ashutosh sharma agreement

8/14/2019 Ashutosh Sharma Agreement

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TVS Interconnect Systems Limited

No 65/2, B Block, 6th Floor,Bagmane Laurel, Bagmane Tech Park,CV Raman Nagar, Bangalroe -560093

Email: [email protected]

Website: www.tvsics.com

TVS GROUP

TVSICS/HR/RT/20090826/08

26th August 2009

Mr. ASHUTHOSH SHARMA,

H. NO.-10/548Kayasthan,

Distt: Saharanpur (247001)

Dear Mr.. ASHUTHOSH SHARMA

Sub: Engagement as OPTIMIZATION ENGINEER - CHANDIGARHRef: Our discussions

Referring above, you have represented to us that you have the contacts, ability, resources and professional competence to co-ordinate the efforts with regard to and provide professional guidence to the Management of TVS Interconnect SystemsLimited (TVSICS) with regard to all matters related to Competency building through Project Management. In providing theServices, you will exercise the degree of professional competence, care, skill, diligence and prudence as is normallyexercised by a Professional in this field. You have agreed to conduct yourself at all times for the benefit of TVSICS andnever knowingly take any action inconsistent with the best interest of TVSICS.

Relying on such representations and pursuant to discussions with you we are pleased to engage your services as Consultantfor the aforesaid purposes with a view to facilitate Project activities as per following terms and conditions.

1. Scope of understanding

You will use your best efforts to develop and implement suitable systems and procedures required by TVSICS to providesupport to the team.

Such works will be undertaken by you initially for a period of one year. The progress will be reviewed by the Managementteam every quarter (three months). If Management team considers, after such time as it may consider appropriate, such workunder this arrangement has been satisfactory and successful, TVSICS may, in its sole and absolute discretion, decide toextend the tenure of this Arrangement or utilize similar work of the in other areas.

2. Consideration

a) In consideration of the services rendered, you shall be paid a monthly retainer amount of Rs. 32200/-(Rupees

THIRTY TWO THOUSAND TWO HUNDRED ONLY),which is exclusive of service tax as applicable andwill be on pro-rata basis for durations of absence. TDS shall be deducted as applicable. You will not be eligible for anyother statutory benefits during the consultancy period. You will invoice TVSICS at the end of every month for Servicesrendered and such invoice will detail the nature of the Services performed.
mailto:[email protected]:[email protected]://www.tvsics.com/http://www.tvsics.com/http://www.tvsics.com/mailto:[email protected]


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Registered Office 7B West Veli Street Fax (0452)2341587 Madurai 625 001


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b) If the necessity arises to travel on TVSICS related work, you shall be eligible for travel claims (travel, boarding &lodging) as applicable forGrade 10 in the companys travel policy. However, before proceeding on such travel, youshall take written approval from

c) You will be reimbursed for the expenses related with your mobile phone rentals and official calls made for businesspurpose, not exceeding Rs.1500/- per month, subject to production of bills.

3. Obligations of TVSICS

TVSICS shall arrange all that documents, brochures, equipments and other information etc., as considered necessary by it toenable you to discharge your work. On terms to be agreed upon, and all queries raised by conslutant on business aspect,TVSICS shall promptly deal with it.

4. Obligations of Consultant

You shall undertake all obligations, works and services as herein provided, with all due diligence and with a view toachieving maximum productivity. The initial assignment will be at Bangalore. The below mentioned are some of the specificobligations that are expected out of you:

1. Reporting to CFO2. Taking up responsibility of preparing the schedules relating to payroll and AS 15 compliance

3. Taking up the responsibility of preparing the final accounting of smaller group companies. Etc.4. Planning for migrating to new ERP in association with the IS department.5. Any other work given to you in connection with account closing.

5. Term

The term of this Arrangement will be from 1ST JULY 2009 TO 30TH JUNE 2010 subject to the provisions ontermination. This Arrangement can only be renewed with the written consent of both parties.

6. Termination

a) This Arrangement can be terminated by either party by giving the other party thirty (30) days priorwritten notice. You will be paid only for Services rendered and expenses incurred prior to the date thisArrangement is terminated. You will, upon termination or expiration of this Arrangement, promptly

return to TVSICS all information, furnished to the Project Activities by TVSICS and will not make orretain any copies or excerpts of such information or materials.

b)


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TVS Interconnect Systems Limited

No 65/2, B Block, 6th Floor,Bagmane Laurel, Bagmane Tech Park,CV Raman Nagar, Bangalroe -560093

Email: [email protected]

Website: www.tvsics.com

TVS GROUP

b) During the review with the Management team, which will be done every quarter, if Management team considers,after such deliberations as it may consider appropriate, such work under this arrangement has been unsatisfactoryand unsuccessful, TVSICS may, in its sole and absolute discretion, terminate this Arrangement as per clause 6 (a).

c) In the event that, in the opinion of TVSICS, the Consultant is in default of any of its obligations or undertakings, or

acts in a manner detrimental to the interests of TVSICS, or is ineffective, this Arrangement may be terminated byTVSICS forthwith, without further obligation other than to pay to the Consultant any amounts that may have

already accrued to the Consultant.

7. Confidentiality

All information whatsoever pertaining to TVSICS, its employees, customers, business, activities, products, plans etc. whichcomes into the possession of the Consultant and/ or any of its personnel, employees, agents, representatives or any others

who obtain thesame

through the Consultant oron account of the arrangement herein contemplated, in connection with

this Arrangementand its implementation will be deemed to be confidential and shall not be divulged to any parties who

have no need to know the same, save to the extent specifically permitted in advance and in writing by TVSICS. TheConsultant shall be fully responsible to take all steps required to ensure such confidentiality, including but not limited to,the execution of appropriate Arrangements by various parties, taking action for any breach thereof etc.

8. Indemnity

The Consultant hereby indemnifies and shall keep indemnified, TVSICS and its directors, officers, employees, agents andcustomers, from and against any claims, demands, losses, damages or other consequences whatsoever, arising from or onaccount of the Consultant's conduct or any acts or omissions of the Consultant or any personnel hired, employed orauthorized by the Consultant in relation to this arrangement or any breach of any of the terms and conditions of thisArrangement, including from any consequences that may arise out of any act, omission, dishonesty, negligence ormisconduct on his part, whether willful or not and in any matter which the Consultant failed to suitably advise TVSICS orto take appropriate actions as required.

9. Independent contractor

The Consultant will, for all purposes, be deemed to be an independent Consultant, contracting with TVSICS on aprincipal-to-principal basis. No employment is created by virtue of this Arrangement between TVSICS and the Consultantor any of his employees, agents or representatives and nothing contained in this Arrangement is intended to or will resultin either party becoming or being treated as a representative, agent or partner of the other.
mailto:[email protected]:[email protected]://www.tvsics.com/http://www.tvsics.com/mailto:[email protected]://www.tvsics.com/


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Registered Office 7B West Veli Street Fax (0452)2341587 Madurai 625 001


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ashutosh sharma agreement

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