SERVICE AGREEMENT

This service agreement is entered into an agreement between: Electronica Finance Ltd.
(hereinafter referred to as “Company”) having its office at Audumber,101/1, Erandwane, Dr.
Ketkar Road,Pune-411004 (Maharashtra, India)

And ____________________________ (here in after referred to as “Consultant”) having its

office at ______________________________, Maharashtra, India. Whereas Company means
the Human Resources representing the and all its business and has agreed to avail services
on the terms and conditions mentioned herein below:

1. Agreement:
- The parties have entered into this Agreement for the regulation of the appointment of
the Consultant for a period from 01-Oct-2022______________ are valid for duration of
12 months or till further notice and are subject to change from time to time. Changes, if
any would be incorporated with mutual agreement and in writing. Either party may
terminate this agreement in whole or in part by serving thirty (30) days advance notice in
writing.

- The purpose of this Agreement includes identifying and submitting candidate profiles
matching the requirements communicated by the Company to the Consultant.

- The parties acknowledge that this Agreement contains the whole agreement between
the parties and that neither party has relied on any oral or written representations (other
than set out expressly in this Agreement) made to the agreement by the other or any of
its employees or agents having made its own investigations into all relevant matters.

2. Services:
- The Company pursuant to this agreement engages the Consultant to provide Recruitment
Services to the Company and the Consultant agrees to provide the Services for the
duration of the contract subject to the conditions of this Agreement.

- The Company will provide the Consultant with the required documents and timely
information to complete the Services within time as per the Agreement.

- The Consultant will appoint a single point of contact, who would be responsible for all
assignments being done for the Company, even if different individuals are executing the
assignments.

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- During the term of this Agreement, as and when mandated by the Company, the
consultant shall shortlist qualified individuals as per the details provided against a
particular position /assignment for possible employment opportunities. The Consultant
shall refer the candidates to Electronica Finance Limited and subsequently the candidates
would be interviewed by the Company. Upon being satisfied with the shortlisted
candidates, the Company may recruit one or more of the shortlisted individuals.

3. Terms of Engagement:
- The parties agree that the Service fees shall be as follows:

Job Band Fee for the candidate (as a % of Annual Compensation)

For all levels (India) 7% of annual CTC

- The parties have agreed that the Annual Compensation package will include Fixed CTC.
For the purpose of calculation or any other onetime payment will not be included in the
calculate on.

- The search fees will be payable upon the successful completion of the search. The search
will be deemed as completed upon joining of the candidate.

- In addition to the search fees, GST at the prevailing rate will be payable. All invoices will
be paid after 30 days of date of joining.

4. Validity Clause:

- The validity of any referral provided by Consultant with Company shall remain active for a
period of Three (3) months after referral and if the candidate submitted by a Consultant is
recruited by some other unit of the Company other than where the Consultant has
introduced the candidate, the consultant will be paid if the profile has been submitted in
the Common Database for Company. on the terms agreed as per the Addendum, based
on the information of the time and date of submission of the profile.

- In case a candidate profile is sent by a Consultant against a specific assignment, the

company will revert to the consultant within 7 working days in case the same profile
already exists in the company database.

- If the candidate resigns within 90 days from the employment commencement date, the
Consultant would be responsible to provide free replacement within 15 Days from the
date of advising you of the separation. In case consultant fails to provide the suitable
replacement, the said fee shall be adjusted from the future billing and/or any due and

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 outstanding payable to the consultant else the service fees will be refunded back to
company within seven working days.

- In the event, the Company decides not to hire a replacement for the candidate who has
resigned within the stipulated time frame mentioned above and fees has been paid to the
consultant, the consultant will be liable to do alternate search for any other alternate
open position for the fees already paid within 3 months of the candidate leaving the
Company.

5. Replacement Clause:

- In the Event, the candidate referred by Consultant resigns/leaves Company within 90 days
, Company should communicate to Consultant
through mail within 15 days from the date of candidate leaving.
On intimation, if Consultant is unable to provide replacement,
then any fee payment made by Company for the attired candidate will be reimbursed or
adjusted to future Invoice.

- If, the candidate is being hired by some other resource expect you the billing amount will
be replaced by some other position hiring or will get adjusted with a credit note. And if the
replacement candidate cost is lower than it will get adjusted with the new /replaced hiring

6. No Poaching Clause:

- Consultant will not hire any employee of Company.

- Consultant will not hire any employee for their any other client.

7. Governing Law and Jurisdiction:

This agreement will be governed by the laws of India. The courts of Pune shall have an
exclusive jurisdiction over any disputes between the parties arising out of or in relation to
this Agreement. In case such dispute is not resolved by mutual discussion within 14 days
or
extended time then it shall be referred to and finally settled by arbitration.

8. Arbitration Clause:

All the disputes and differences arising between the parties here to as to the interpretation
of this Agreement or any covenants or conditions thereof or as to the rights, duties, or
liabilities of any party hereunder or as to any act, performance or non-performance of any
act, deed or thing as agreed under this Agreement or matter or thing arising out of or
relating to or under this Agreement (even though the Agreement may have been

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terminated), the same shall be referred to the Sole Arbitrator to be appointed by Electronica
Finance Limited., according to the provisions of Arbitration and Conciliation Act 1996, and
rules there under and any amendment thereto from time to time. The Language of
Arbitration shall be English. All cost of Arbitration including the Arbitrator’s fees, Advocate
Fees, travelling cost other miscellaneous expenses shall be borne equally by the parties
hereto. The award of the Arbitrator shall be a Speaking award and shall be final, conclusive
and binding on all the parties whether on question of law or of fact. In the event of death,
refusal, negligence, inability, incapability of the person so appointed to act as the Sole
Arbitrator, a new Arbitrator shall be appointed by Electronica Finance Limited. The venue of
the Arbitration shall be Pune.

IN WITNESS WHEREOF HAVE CAUSED THIS AGREEMENT TO BE EXECUTED BY THEIR DULY

AUTHORISED OFFICERS AS OF THE DATE SET FORTH ABOVE

Signed on behalf of Signed on behalf of

Electronica Finance Ltd.

Signature – Authorized Person Signature – Authorized Person

Name: Name: Mr.

Designation: HR Head Designation:

WITNESSES:

1.

2.

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