Date: 15th April, 2019

Mr. Sunil Hukumchand Sadhwani,

Mr Samir Kalyani,
Flat No A -412, Godrej Horizon,
Near Corianthans Resort, Undri
Pune – 411060
sunilhsadhwani1@gmail.com

Sub: LOI for flagship store franchise rights at Pune, Maharashtra

THIS LOI (the “intent”) is offered on 15th Apr 2019 by,

1. iTraveller Technologies Private Limited, a company duly organized under the laws of the
place of its incorporation, and whose registered address is PSARA 72, Thundathil, Kakkanad
PO, Kochi (“Company”), to
2. Mr Sunil Hukumchand Sadhwani & Mr Samir Kalyani, professionals who are keen to pursue
the franchise business of iTraveller Technologies Private Limited, and Flat No A-412, Godrej
Horizon, Near Corianthans Resort, Undri Pune 411060 (“Franchisee”), and

RECITALS: The Franchisee has offered his interest in setting up the flagship store of Company, as part
of Company’s offline expansion initiative. Owing to the specific set of deliverables and
premises-of-work that are agreed upon, the below terms are laid,

 The franchise rights are non-exclusive and Company reserves the right to appoint additional
franchisees for similar and/or different products as and when it deems fit.
 The franchise is being offered to you for a period of 1 year only, effective from 15th May,
2019
 The franchise is being offered to you for the following products (Domestic & International) –
flights, hotels, car rentals, tours and activities, cruises, holidays, travel insurance, visa &
documentation services
 A comprehensive Franchise Agreement is to be signed between us and will be the basis for
all terms & conditions during the tenure of this franchise.

The commercial business model for the franchise location is as follows:

 10% of the Gross Travel Value (GTV) shall be paid to the franchise as commissions
 90% of the Gross Travel Value (GTV) will be allotted against the cost of providing the services

The fees for the franchise location with reference to the subject are as follows:

Refundable Franchise Fees : Rs. 1,50,000 + Service Tax @18%.

PRE LAUNCH OFFER DISCOUNT (-) : Rs. 1,00,000

_______________________________________________________________
TOTAL : Rs 50,000 (Fifty Thousand Only) + Service Tax @18%

The franchise fee payment schedule is as follows:

1. Rs. 25,000/- on signing of this LOI.

2. Rs. 25,000/- on signing of the Franchise Agreement not later than 90 Days of the date of this LOI.

iTraveller Technologies Private Limited

Kochi: PSARA 72, Thundathil, Kakkanad PO, Kochi, Kerala, 682030, India
Tel: 99161 07071. eMail: india.enquiry@lastminute.com Web: www.in.lastminute.com
Please note the deadlines under which this LOI is operative:

1. The store to be identified & approved within 15 days from the effective date as mentioned on
this LOI.
2. The Store to be launched not later than 60 days from the effective date as mentioned on this LOI.
3. Name of your company (either proprietorship or partnership) which will hold the franchise rights
with constitution & registered address to be firmed up & informed to us not later than 30 days
from the effective date as mentioned on this LOI.
4. Franchise Agreement to be signed not later than 90 days from the effective date as mentioned on
this LOI.
5. Manpower to be identified approved & employed not later than 45 days from the effective date
as mentioned on this LOI.
6. Hardware to be installed and commissioned not later than 45 days from the effective date as
mentioned on this LOI.

The initial payment of Rs. 25000/- will be forfeited in case you are not able to sign the Agreement
within the scheduled time and launch the center, or due to any other reason, you are unable to go
ahead with the project.

This LOI is to be signed & returned with the initial payment on or before 25th of Apr, 2019. The failure
to do so will lead to the cancellation of this LOI and the company has the right to proceed with any
other company for the franchise location with reference to the subject.

Your acceptance of this LOI is invalid unless it is signed & sealed & accompanied with a DD of
Rs.25000/- drawn in favor of “iTraveller Technologies Private Limited” payable at Bangalore.

This LOI is revocable till the date of signing of Agreement.

For iTraveller Technologies Private Limited

VP – Offline Revenue Sunil Hukumchand Sadhwani

Sanjay Kumar Franchise Partner

Shiju Radhakrishnan Samir Kalyani

Chief Executive Officer Franchise Partner

Date:
Place:

iTraveller Technologies Private Limited

Kochi: PSARA 72, Thundathil, Kakkanad PO, Kochi, Kerala, 682030, India
Tel: 99161 07071. eMail: india.enquiry@lastminute.com Web: www.in.lastminute.com