THIS AGREEMENT is made on the -- day of June 2008,, BY AND
BETWEEN, --------CONSULTING PRIVATE LIMITED, a company
incorporated under the Companies Act, 1956, having its Registered Office at #-------------------------- (hereinafter referred to as "----------", which expression, where the context admits, shall include its successors and assigns) OF THE ONE PART and ----------------, having its registered office at # ---------------------, India (hereinafter referred to as “--------------", which expression, where the context admits, shall include the heirs, executors and administrators) OF THE OTHER PART. WHEREAS: 1. ------ ----- is a company engaged in providing --------------- and in connection with its business, requires the work and services of ---------------. 2. --------- ----- has the necessary skills and expertise required to undertake and perform such work and services to the satisfaction of ----------. 3. Discussions having been held between the parties, ---------- has retained the services of ----------t from --------- 2008, on certain terms and conditions, which they now desire to reduce to writing by executing this Agreement. NOW THEREFORE THIS AGREEMENT WITNESSETH as follows: 1. SCOPE OF AGREEMENT. 1.1. ----------------- shall, during the term of this Agreement, undertake the obligations specified in this Agreement and provide to -----------------, the work and services of -----------------, for the consideration and upon the other terms and conditions herein provided. 1.2. The consideration payable by ----------------- to ----------------- for the work and services shall be as follows: Particulars Professional Fee Payable Upto Assistant Manager 8.33 % of CTC Upto Senior Manager 10 % of CTC GM & above 12 % of CTC 1.3 a) Annual Gross Salary for the purpose of professional fee calculation will include Basic Salary & any other components that may be a part of the flexible plan or otherwise, including company’s contribution to PF, annual incentive, sign on bonuses and relocation allowances if any. b) Validity: This agreement shall be valid for a period of one year and may be extended for a further period or periods under fresh terms and conditions as may be mutually agreed between parties hereto. c) If ----------------- hires -----------------’s candidate within twelve (12) months from the date of submission of resume to ----------------- , the placement shall be considered a result of -----------------’s referral efforts. d) ----------------- will not approach any ----------------- employee directly or indirectly for other employment opportunities during the tenure of this agreement. e) Invoicing: ----------------- will submit invoices as and when placements are complete and the candidate reports for duty. f) Payment Terms: Payment shall be made within thirty days from the date of invoice. g) If the candidate leaves the company before completing three months of service upto Senior Manager level, ----------------- will provide a replacement candidate within three months or refund the professional fees paid by ----------------- in the following manner; 100% refund if the candidate leaves within 30 days, 66% refund if the candidate leaves within 60 days and 33% refund if the candidate leaves within 90 days. h) If the candidate leaves the company before completing six months of service at GM & above level, ----------------- will provide a replacement candidate within six months or refund the professional fees paid by ----------------- in the following manner; 100% refund if the candidate leaves within 60 days, 66% refund if the candidate leaves within 120 days and 33% refund if the candidate leaves within 180 days. i) Service tax at the rate applicable as on the date of the invoice shall be charged in the invoice separately 2. OBLIGATIONS OF -----------------. ----------------- will ensure full and proper compliance by him/her, of all applicable laws, rules, regulations and other statutory requirements whatsoever, in implementing this Agreement and carrying out his/her duties and obligations hereunder and will obtain all required registrations, licenses, approvals, sanctions etc. Notwithstanding his responsibility to comply with any directions or instructions given by ----------------- or any ----------------- personnel concerned, ----------------- will not, however, for any purposes, be treated or deemed to be an employee or agent of ----------------- but will be an independent contractor without any claims or rights whatsoever for employment with ----------------- and ----------------- will have no obligations or liabilities whatsoever in relation to ----------------- and his/her work and services, save as is herein provided. 3. OBLIGATIONS OF -----------------. ----------------- will, subject to compliance of this Agreement and all statutory requirements and the provision of the work and services to its satisfaction by ----------------- and subject to deduction of tax at source, ensure full and timely payments for the work and services as provided in this Agreement. The work and services provided in pursuance of this Agreement are exclusively in connection with the business and activities of ----------------- and shall not be used for any other purposes without the prior written consent of ----------------- ----------------- will not require ------ ----------- to carry out any duties or functions other than those provided for in this Agreement, without the prior written consent of -----------------. 4. CONFIDENTIALITY. Both the parties shall ensure that he maintains complete confidentiality with regard to all information relating to its premises, business, assets, affairs, employees etc. 5. FORCE MAJEURE. The obligations of ----------------- and ----------------- shall remain suspended if and to the extent that they are unable to carry out such obligations owing to force majeure or reasons beyond their control. In the event of such inability continuing for more than a month, the other party shall have the right to terminate this Agreement without further obligation. 6. INDEMNITY. Notwithstanding anything herein stated, neither party shall be liable to the other for any indirect, consequential, penal, exemplary or like damages even if advised of the possibility of the same. 7. TERM AND TERMINATION. 7.1 This Agreement shall commence/be deemed to have commenced as on and from 13th June 2008 and shall be in force till the period mentioned in clause 1.3(b) mentioned herein before. 7.2 Either party may at any time, without cause, terminate this Agreement by giving to the other thirty (30) days written notice. 7.2 In the event of breach of this Agreement by either party, the other party will be entitled to terminate this Agreement forthwith and without any advance notice. 7.3 Expiry or earlier termination of this Agreement will not prejudice any rights of the parties that may have accrued prior thereto. 8. NO AGENCY. It is clearly understood and accepted by both parties that this Agreement and the contract between the parties evidenced by it are on principal to principal basis and nothing herein contained shall be construed or understood as constituting either party hereto the employee, agent or representative of the other, under any circumstances. 9. ENTIRE AGREEMENT. This Agreement embodies the entire agreement and understanding between the parties as to the subject matter hereof and supersedes all prior negotiations, arrangements, agreements and writings and understandings between the parties. IN WITNESS WHEREOF the parties have caused this Agreement to be executed in duplicate at -----, the day and year first above written. SIGNED and DELIVERED for and on behalf Of ----------------- Consulting Pvt. Ltd., ----------------- aforesaid, by Managing Director SIGNED and DELIVERED for and on behalf Of --------------------. Ltd., ------------- aforesaid, by GM HR