Statement of Work #01

Purpose: To provide recruitment services as a

vendor: Vertex HR Services

Period of Performance (W.e.f.): 1 April-2024

WHEREAS, master professional services agreement has been entered into by and between TM Inputs & Services
Private Limited, (herein after referred to as “TMI”), a company incorporated under the Companies Act, 1956, having its
registered office at Unit No:102,103, 104 & 105, First Floor, Ashoka My home Chambers, 1-8-301 to 303, S P Road,
Secunderabad Telangana – 500003, INDIA and Insert name of the vendor registered in the state of Enter State of
Registration, having its registered office at Enter Registered Address of the Vendor herein after referred to as
“Vendor”, which term shall also include its Affiliates on date of MSA

WHEREAS, TMI desires to engage the services of the Vendor for the purpose and for the period stated above, for the
scope, timelines, specific terms and commercials defined herein under and pursuant to the others terms and
conditions set forth in the MSA signed between the parties.

Basis mutual discussions, the parties hereby agree as follows -

A. Scope, timelines & terms of Work –

1. Vendor herewith agrees to support TMI in the placement of Front-Line Sales Executives (viz. BDM, SAM, AM,
AAM and other such designations as may be nomenclated)

2. Client wise requirement to be fulfilled.

3. Vendor agrees to appoint single point of contact (SPOC) within 1 day of signing this Statement of Work and the
contact details shall be shared with TMI. The SPOC shall be responsible for all the assignments, covenants and
decisions being made with TMI on behalf of the Vendor, even if different individuals are executing the
assignments. Vendor shall be responsible to communicate the change of SPOC to TMI within 1 working day of
such change, failing which the vendor will be solely responsible for the acts, time and monetary considerations
that are affected due to the discussions with/by the earlier SPOC with TMI.

4. The candidate profile will only be considered valid only on uploading the profile (Curriculum Vitae/Resume) into
the TMI ATS (TMI Applicant Tracking System), hereinafter referred to as “ATS”, subject to the candidate being
informed, assessed for the role, briefed about the job description and the candidate expressing his/her interest
for the position for which the profile was shared.

5. Credit/ownership of a candidate profile will remain with the Vendor on fulfilling all the below conditions:
5.1 Subject to upload of the profile against a specific position with a specific client of TMI
5.2 Subject to profiles being uploaded in ATS. No ownership claim will be entertained if the profile is shared
through email or any other offline method.
5.3 Subject to the candidate attending the client interview
5.4 Subject to the candidate record being unique in TMI and client’s ATS/HR database.

6. In case, the candidates profile uploaded in ATS, is rejected by TMI or by the client of TMI for whatsoever reason,
such candidates shall be made available for the Vendor for re-assignment towards a new indent.

7. The validity period for the profile uploaded in “ATS” would be 45 days from the date of upload. In case the
candidate is rejected by TMI or by the client, the profile can be redirected to any other indent as per the request
of the vendor within 30 days from the date of rejection. If there is no such request by the vendor, TMI can move
the candidate as per its requirement and discretion and the vendor will not have ownership or claim towards the
candidate profile.

8. In case, the candidate whose profile is uploaded in ATS, fails to attend the interview with the client, the
candidate shall be made available for the Vendor for re-assignment towards other active indents based on
eligibility of the candidate. The Vendor shall be intimated through an email about the reassignment.

9. Candidates/profiles introduced to TMI without a designated assignment/open position for future, such profiles
shall be considered out of ambit of the SOW. No credit shall be given for unsolicited profiles.

10. Vendor is responsible to verify the representations made by the candidates on their backgrounds, qualifications,
 and compensation details by conducting reference check (discreet and formal/informal) for all candidates
processed for the search. The curriculum vitae submitted to TMI should be based on the information provided by
the candidate and the referees. In case the information provided by the candidate is found to be false or
incorrect at any time during his/her employment and the candidate is terminated for this reason. In such cases,
the Vendor is required to make a 100% refund.

11. Vendor shall be responsible to provide 1 free replacement for each candidate who joins the client but fails to
complete the retention period as specified by the client.

12. There shall be a categorization of the Vendors based on the degree of support that has been provided on two
counts, i.e measurable on the quantity and the quality of the services.

B. Payment Schedule & Terms –

1. TMI agrees to pay the vendor the following professional fee for each such joined candidate against as specified
against each such client, subject to the confirmation that the candidate is from the candidates/profiles
introduced by the vendor with unique ID of TMI and is further subject to such candidate successfully completing
the retention period of the client.

Axis Bank Ltd -

Kotak Mahindra Bank - Vendor Commercial (90 days
IDFC Commercial (90 days replacement clause) Vendor
replacement clause)
Commercial

Flat 5000 per

joiner (60 days
CTC range Commercials Replacement CTC From Commercial Replacement
replacement
clause)

Up to 4 Lacs 10,000 90 Days Up to 400000 8000 90 Days

400001 to 600000 18,000 90 Days 400001 to 600000 18000 90 Days
600001 to 900000 20,000 90 Days 600001 to 900000 20000 90 Days

If any candidates hire in EO grade then partner is not

900001 to 1200000 30,000 90 Days
eligible for the payout

1200001 to 1500000 40,000 90 Days

1500001 to 2000000 55,000 90 Days

Insurance Vertical
Payouts per joiner Positions Clients Replacement Clause (In Days)
10,000 Banca Other Insurance Clients 90
15,000 Banca IndiaFirst Life 90
15,000 Team Leader 90
10,000 Telesales Executives 90
Shriram Life Insurance
15,000 Field Sales 90
5% of CTC FLM (CTC above 5 lakhs) 90
 NBFC Commercials
Payouts per joiner Positions Clients Replacement Clause (In Days)
10,000 Executive Sales Sharekhan 90
15,000 Relationship Manager Sharekhan 90
10,000 Branch Relationship officer Sarvagram 90

Lateral Vertical
CTC RANGE Commercials
Upto 4 lac 10,000
400001-600000 18,000
600001-900000 20,000
900001-1200000 30,000
1200001-1500000 40,000
1500001-2000000 55,000
>2000000 75,000

BAJAJ AUTO CREDIT LTD

If you opt for 90 days payout then below If you opt for 180 days payout then below
Conditions apply
commercial will be applied commercial will be applied

Position Payout with 90 days Replacement Payout with 180 days Replacement

Collection Officer/
7,500 12,000
Assistant Manager

*Metro: Delhi – NCR, Mumbai, Bangalore, Hyderabad, Kolkata, Chennai

2. Applicable taxes at the prevailing rate will be paid over the professional fee.

3. TDS shall be deducted at prevailing rates, wherever applicable.

4. Vendor is required to raise invoices with correct GST details within 30 days from the date of intimation of the
details of the joinees, failing which TMI shall not be responsible for any delay in processing the payments.

5. No invoices shall be accepted after a period of 60 days from the date of intimation of the details of the joinees.

6. All undisputed payments shall become payable within 45 days.

7. In cases, where payments are released by TMI and the joined candidate does not complete the retention period
of 90 days, the Vendor is liable to repay the fees paid forthwith and not later than 15 days from the date of
intimation. Further, TMI reserves the right to recover such payment (including incentives, if any) made against
each such candidate from the Vendor, either in lumpsum or adjusted against future payments, the decision of
which rests with TMI that shall be final and binding upon the Vendor. Credit note for all such cases must be
issued by the Vendor within 7 days from the date of intimation, to close the entry in books of accounts of TMI
and Vendor.

8. Vendors agrees to file GST returns in time, failing to do so, the Vendor understands the liability to indemnify TMI
on the loss incurred due to non-remittance of GST & non-disclosure or wrong disclosure in GST returns.

9. 100% of the payment made is liable to be reimbursed by the Vendor in case of termination of a candidate for the
reason of any false, incorrect information or misrepresentation at any point of time during his/her tenure of
employment with client of TMI.

C. Warranties -
 1. The Vendor warrants TMI that it has the requisite skills, expertise and resources required for providing services
and has the proven competence to perform the Services.

2. The Vendor further represents and warrants that it will promptly provide Services at the highest professional
standard and in a responsive manner.

3. The Vendor warrants not to charge any of the candidates sent to TMI for recruitment, at any stage of recruitment.

4. Vendor warrants that the goods and/or services delivered and rendered hereunder conform to the requirements,
are free of latent defects, and are merchantable and fit for use for the particular purpose described in the
purchase requirement (or, if no such requirement is specifically described, for the purposes for which the goods
or services, as applicable, are ordinarily used).

D. DISPUTES –

In the event of any claims or disputes arising from or relating to this Contract, the parties shall use their best
efforts to settle the claims or disputes. To this effect, they shall consult and negotiate with each other in good
faith and, recognizing their mutual interests, attempt to reach a just and equitable solution satisfactory to both
parties. If they fail to reach such a solution within sixty (60) days, either Party may refer the matter to arbitration,
which shall be the exclusive method of resolving such disputes. In case of Dispute or difference arising between
the Client and Consultant relating to any matter arising out of or connected with this contract, such disputes or
difference shall be settled in accordance with the Arbitration and Conciliation Act, 1996. The arbitral tribunal
shall consist of 3 arbitrators one each to be appointed by the Client and the Vendor/Consultant. The third
Arbitrator shall be chosen by the two Arbitrators so appointed by the Parties and shall act as presiding arbitrator.
In case of failure of the two arbitrators appointed by the parties to reach upon a consensus within a period of 30
days from the appointment of the arbitrator appointed subsequently, appointment of Presiding Arbitrator shall
be made in terms of clause 11 of chapter III of The Arbitration and Conciliation Act, 1996. The Arbitration and
Conciliation Act of 1996 the rules herewith and any statutory modification or re-enactment thereof shall apply to
arbitration proceedings. The decision of the majority of arbitrators shall be final and binding upon parties. In case
there is no majority decision, the decision of the Presiding arbitrator shall be final. The cost and expenses of
Arbitration proceedings will be paid as determined by the arbitral tribunal. However, the expenses incurred by
each party in connection with the preparation, presentation, etc. of its proceedings as also the fees and expenses
paid to the Counsel appointed by such party or on its behalf shall be borne by each party itself. The venue of
Arbitration shall be Delhi, the place from where the contract is issued, and the language of the arbitration
proceedings and that of all councils and communications between the parties shall be English.

E. Changes -

Changes in the terms and conditions of this statement of work may be made only by written amendment issued by TMI.

F. Compliance with Laws –

Vendor explicitly warrants that it is in compliance with all applicable national, state and local laws, as amended, If
this is a Purchase Order for services, Vendor also shall not discriminate against any of the intended beneficiaries
of the program for which services are provided, such as, but not limited to, by withholding, adversely impacting,
or denying equitable access to the benefits provided through the program on the basis of any factor not
expressly stated in this agreement.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

TMInputs & Services Pvt Ltd For Vendor