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Consultancy Agreement Format

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CONSULTANCY AGREEMENT

This Consultancy Agreement (the “Agreement”) is made and entered into this of , (the “Effective Date”) by and between with its principal place of business located at (the “Company”) through it's Authorised Representative and with its principal place of business located at (the “Consultant”) (hereinafter referred to individually as a “Party” and collectively as “the Parties”).

WHEREAS, the Company desires to engage the Consultant to provide certain services in the area of Consultant’s expertise and the Consultant is willing to provide such services to the Company;

NOW, THEREFORE, the Parties hereby agree as follows:

1. Engagement and Services

(a) Engagement: The Company hereby engages the Consultant to provide and perform the services set forth in Exhibit A attached hereto (the “Services”), and the Consultant hereby accepts the engagement.

(b) Standard of Services: All Services to be provided by Consultant shall be performed with promptness and diligence in a workmanlike manner and at a level of proficiency to be expected of a consultant with the background and experience that Consultant has represented it has. The Company shall provide such access to its information, property and personnel as may be reasonably required in order to permit the Consultant to perform the Services.

(c) Tools, Instruments and Equipment: Consultant shall provide Consultant’s own tools, instruments and equipment and place of performing the Services, unless otherwise agreed between the Parties.

(d) Representation and Warranty: Consultant represents and warrants to the Company that it is under no contractual or other restrictions or obligations which are inconsistent with the execution of this Agreement or which will interfere with the performance of the Services.

2. Consultancy Period

(a) Commencement: This Agreement shall commence on the Effective Date and shall remain in effect until the completion of the Services or the earlier termination of this Agreement as provided in Article 2 (b) (the “Consultancy Period”).

(b) Termination: This Agreement may be terminated by the Company, without cause and without liability, by giving calendar days written notice of such termination to the Consultant. This Agreement may be terminated by either Party by giving calendar days written notice of such termination to the other Party in the event of a material breach by the other Party. “Material breach” shall include: (i) any violation of the terms of Articles 1 (d), 3, 4, 5, 6, 8, 10 and 11,
(ii) the death or physical or mental incapacity of Consultant or any key person performing the Services on its behalf as a result of which the Consultant or such key person becomes unable to continue the proper performance of the Services, (iii) an act of gross negligence or wilful misconduct of a Party, and (iv) the insolvency, liquidation or bankruptcy of a Party.

(c) Effect of Termination: Upon the effective date of termination of this Agreement, all legal obligations, rights and duties arising out of this Agreement shall terminate except for such legal obligations, rights and duties as shall have accrued prior to the effective date of termination and except as otherwise expressly provided in this Agreement.

3. Consultancy Fee and Expenses

(a) Consultancy Fee: In consideration of the Services to be rendered hereunder, the Company shall pay Consultant a Consultancy fee Rs. payable at the time and pursuant to the procedures set forth in Exhibit A] (the “Consultancy Fee").

(b) Expenses: Consultant shall be entitled to reimburs

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