Offer Letter Akhilesh

7/18/2019 Offer Letter Akhilesh

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July 16, 2015

Akhilesh Shukla

Kurnool

LETTER OF OFFER

Dear Akhilesh

Following the various meetings with the team and our conversations, we think you would be an excellent additionto our team and it will be a privilege to have you on board.

We are pleased to make you an offer to join our TEACHFORCE as Education Sales Specialist. You will conceive,develop, and execute sales in this region. The role requires diverse skills in planning, business development,closing deals, and partnering with a team. Additionally, you will contribute to the broader sales strategy of theschools team.

Mission

TEACHFORCE mission is to create an education that helps each human-being realize their real potential i.e.unleash their mind. The TEACHFORCE program specifically provides a quality foundation in the early years ofschooling, making them confident life-long learners. We believe this is possible for all children.

Goal

Our current goal is to have close to three million children in over 5000 schools across India by the end of 2015-16.

Your Collaborators

You will be responsible to your Manager for your deliverables.

Our organization is evolving rapidly, and in general we are not hung up about levels and hierarchy and are drivenby authentic work and relationships. The position is based in Kurnool and will require frequent travel. Basis ourdiscussions we are looking forward to your joining on or earlier than 20-07-2015.

This is an excellent opportunity to join a group of passionate and deeply committed people. As you are aware, wehave substantial plans for growth and there will be no dearth of opportunities across our areas of work - forpeople who are keen, committed and add consistent value. Hence, the upside on your own growth and that ofyour role and compensation is likely to be considerable.

The compensation and standard terms of employment are enclosed in Appendix I, II, & III. Please return theduplicate copy of the employment letter and the attachment duly signed as your acceptance.

Congratulations and wish you a great year ahead!

Warm Regards

Satyendra Pattnaik Rahul JainHuman Resources Manager Vice President



APPENDIX-I

Terms & Conditions of Employment:

1.

The management can at its sole discretion terminate your appointment after giving you one month noticeor salary in lieu of notice. Similarly, you can resign from the services of the company after giving one month

notice or salary in lieu of notice.

2. You are eligible for leave of 20 working days in a financial year (July – June). You will not be entitled forleave for the first 3 months after the date of joining. Any leave taken in this duration will be unpaidleave.

3. Your offer is subject to the fact that all personal and professional information provided by you to us is

authentic (including the reference check that will be done as part of the hiring process)

4. You will be on probation for a period of six months in the first instance. During this period you will be

expected to attain the standard required by the Company as to your work, attendance and conduct andwe should also receive satisfactory references. Failing this, the Company may, at its discretion, extendthe probationary period for a further term up to three months or terminate your services by giving you 15days’ notice. Similarly, during your probationary period, you will be at liberty to resign from service aftergiving 15 days’ notice.

5. On satisfactory completion of your probation period, you will be confirmed in the services of the companyby default unless otherwise mentioned.

6. The management can at its sole discretion terminate your appointment after giving you one month noticeor salary in lieu of notice. Similarly, you can resign from the services of the company after giving onemonth notice or salary in lieu of notice. This clause is not applicable during your probation period which

will be governed by Clause 4 mentioned above.

7. You will be required to sign the Non-Disclosure / Confidentiality Agreement which is in Appendix-II. All

information, data relating to the business activities and operations of the Company including customers

and clientele is the sole proprietary of the company. Any work produces during the period of employment

is the property of Teachforce only and cannot be used for any other reference work.

8. You have agreed that upon commencement of this arrangement, you will not engage in any activity that

can be deemed to be in competition with the Company’s Business covered under this arrangement.

“Competition” shall include but not be limited to any activity (undertaken through any kind of entity or

individual) in India or abroad, which directly or indirectly provides (or plans to provide within a period of

two years from the date of determination) any of the following: Educational material and educationalcontent, including curriculum or educational publication in the pre-K to standard 12 space, regardless of

the medium, i.e., whether digital or not; Teachers’ Training; Digital educational solutions for Pre-K to 12; K

12 school management/ownership; Supplementary programs from pre k to 12; Pre K to 12 assessments;

Pre-Schools: or Branding and/or franchising of any of the above.

9.

Teachforce aspires to a culture rooted in truth, transparency, quality, and love for people. In general we

tend to be informal yet performance focused



APPENDIX-II

CONFIDENTIALITY AND IP RIGHTS AGREEMENT

This letter sets out, in relation to the said Arrangement, the terms which will apply to information andmaterials communicated between the Company and yourselves during such Arrangement and to the

ownership of rights to any intellectual property rights, etc., which may arise out of the said Arrangement.

In this letter:

"Company Information" means any information whatsoever emanating from the Company which is

imparted to or acquired by you or which comes to your knowledge, during the course of the said

collaboration, including all:

(i) commercial information including, but without limitation, information relating to the business,financial position, strategies, plans, contracts, transactions and negotiations;

(ii) technical information including, but without limitation, information relating to any trade

secrets, know how, services, specifications, processes and IP Rights, or any developments or

improvements to any of them.

and in particular, all such information relating to the Arrangement described above.

The Company Information may be in verbal, documentary, graphic, model, electronic or any form

whatsoever; may be disclosed orally, in documentation, on computer disc, by computer data transfer, or

otherwise; and may belong to the Company or any other affiliate(s) or group company (ies) of the

Company.

“Company Material” means any materials embodying the Company Information, including documents,

drawings, designs, photographs, samples, substances, and computer disks programs or files or any other

physical form or manifestation of Company Information whatsoever transferred during, resulting from or

generated by our dealings with each other.

“IP Rights” means all copyright, design rights (whether registered or unregistered), moral rights, rights in

trade names, logos and get up and trade and service marks (whether registered or unregistered) and any

other intellectual property rights including the right to apply for and obtain registration of the foregoing

as well as the benefit of all such applications and registrations;

1. Confidentiality of Company Information

In consideration of such disclosure of Company Information by the Company, you undertake:

a) to treat the Company Information as strictly confidential at all times;

b) on our request at any time to deliver to us all Company Material in your possession, custody or

control and to delete all computer programs containing the Company Information from allhardware in your possession, custody or power;



c) to restrict disclosure of Company Information to only those other employees of the Company to

whom disclosure is necessary for the purposes of the said Arrangement and who are bound by

obligations of confidentiality with respect to the Company Information

d) not to copy or disclose any Company Information to any third party without written consent of the

Company;

e) not to use the Company Information other than for the said Arrangement and such other

purposes as may be authorized by the Company;

You agree to indemnify the Company against all loss, damages, costs and expenses incurred by the

Company as a consequence of any unauthorized use of Company Information by you or any breach of the

above undertakings.

The above undertakings do not apply to any Company Information which you can show:

i) was published or otherwise generally available to the public at the time of disclosure;

ii) is subsequently published or becomes generally available to the public otherwise than through

any act or omission on your part

iii) Was already in your possession at the date of this Agreement and was not acquired directly or

indirectly from the Company.

2. Your Information

If you should communicate to us during our Arrangement any information or material, it is agreed that;

i) Any such communication will be made on a non-confidential basis without giving rise to any

obligation on our part and without restriction on our future use and disclosure of such to third

parties. Any exception to this term must be expressly agreed to in writing by the Company in

advance, and the information and/or materials excluded must be clearly identified in that written

agreement;

ii) should any such information or material belong to another party, or be subject to any IP Rights,

whether owned by you or (to your knowledge) by a third party, you will inform us of this at thetime of communication.

iii) you will indemnify the Company against all loss, damages, costs and expenses incurred by the

Company, as a consequence of any third party claim for ownership of or for infringement of any IP

Right in respect of, any information or material which you communicate to the Company in the

course of the Arrangement, and where you have failed to inform us of the existence of such

ownership or IP Right in respect of such information or materials in accordance with paragraph

2(ii) above.



3. Ownership of IP Rights

In consideration of the remuneration or other benefit which accrues or may accrue to you under this

Arrangement, it is agreed that:

(i) ownership of all IP Rights in respect of any invention, idea, design or other original work which

arises as a consequence of, or results from, your activities with the Company, whether embodied

in the Materials or not, shall vest solely in the Company;

(ii) that the Company shall have the absolute and unrestricted right to register, use, license or

otherwise deal with those IP Rights world-wide; and

(iii) that such IP Rights and ownership thereof are hereby assigned to the Company.

(iv)

such things that may be necessary to perfect title of the Company, or its nominee, in all such IPRights in India and any country and, at our request and expense, you will provide all reasonable

assistance to the Company or its nominee in order to secure and maintain the registration of any

such IP Rights.

This agreement shall be governed by and construed in accordance with Indian law and subject to the

jurisdiction of the courts at Delhi only.



APPENDIX-III

1.

Your appointment will be effective from the date of joining.2.

Compensation at Teachforce comprises of three parts: Fixed Salary, Annual Performance bonus/

Incentive & benefits viz. PF, Gratuity, and Mediclaim Insurance

a. Your Fixed salary will be Rs. 4,06,520/- per annum for the operating year 2015-16 payable

monthly. Apart from that you can claim up-to Rs. 15,000 per annum on submission of bills

(Medical 15,000)

b. For Operating year 2015-16, your annual incentives which will be calculated as per the Sales

Incentive Plan applicable.

c. Additionally, the Company will make following payments/ provision annually to provide

medical insurance benefits & other statutory contributions.

Rs. 4,000/- as premium for covering medical health insurance up-to Rs. 2 Lakhs for

you and your dependent family (Spouse and two children).

Rs. 18,480/- as annual contribution towards provident fund.

Rs.7,404/- as annual provision towards Gratuity payable after completion of 5 years of

service with the company.

3.

Reimbursements for business travel and accommodation and mobile expenses will be given as per

company policy

Akhilesh Shukla: Education Sales SpecialistCompensation Structure - Year 2015– 16

Total fixed

cost (TFC)

Maximum

amounts (in

Rs.)/ LimitsDetailed description of the components of the compensation structure

Amount

(in Rs.)

Annual

Basic35% of Total

Fixed CostThis amount is paid to the employee along with the monthly payroll and is fully taxable. 1,54,000

Conveyanc

e

Fixed

amountThis amount is paid to the employee along with the monthly payroll and is not taxable. 19,200

House rent

allowance

House rent

allowance -

limited to

50% of basic

salary.

This is paid on a monthly basis along with the salary. Tax-concession on HRA is

provided, subject to submission of appropriate rent receipts and in accordance with

prevailing IT regulations.

77,000

Special

allowance

No

maximum

limit

Special allowance is arrived at after deduction of amounts towards HRA/ CLA, medical

and LTA from the employee's Flexible Compensation Plan. The same is payable along

with the monthly payroll and is fully taxable.

1,56,320

TOTAL FIXED COST 4,06,520

Note:

The unclaimed reimbursement amount for Medical, LTA, Flexi Pay is paid to the employee at the end of the financial year, post appropriate tax

deductions.

Strictly Confidential Human Resources

Offer Letter Akhilesh

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