SERVICE AGREEMENT

2022-02-12
This Service Agreement ("Agreement") is made and entered into as of ________________(“Execution Date”)

BY AND BETWEEN

SAMA SCHOOL (ANDO TECHNOLOGIES PRIVATE LIMITED), a private limited company incorporated and existing
under Companies Act, 2013, having its registered o ce at 567, PLA, Hisar, Haryana 125001 (hereinafter referred to
as “Company”, which expression shall, unless it be repugnant to the subject or context thereof, be deemed to
mean and include its successors and permitted assigns) of the FIRST PART;

AN
I[ SATODAL KARMAKAR ], a India citize
an residin a addres [
80, RK CHATTERJEE ROAD, OLD POLICE STATION MORE, KASBA, KOLKATA- ]
700042, WEST BENGAL
(hereinafter referred to as "You" or "Your" or “Participant” which expression shall, unless it be repugnant to
the subject or context thereof, include heirs, legal representatives, successors and permitted assigns) of
the SECOND PART

● The Company and You are hereinafter collectively referred to as the “Parties” and individually as a “Party”.

WHEREAS:

A. The Company is in the business of training students, helping them nd employment and helping them
avail nancial assistance for the same
B. You have approached the Company to help with the training, placement and nancial assistance for the
trainin
C. In consideration to receiving the Training being offered by the Company, You irrevocably agrees to pay a
xed fee to the Company post completion of Training in accordance with the terms and conditions of this
Agreement (“Fees Payable”)
D. This Agreement is not a loan or other credit instrument. It represents Your obligation to make payments of
the Fees Payable
E. The Parties wish to record the terms and conditions of the services and Fees Payable as set out in this
Agreement

NOW THEREFORE IT IS AGREED BY AND AMONG THE PARTIES HERETO AS FOLLOWS

1. TERMS OF THE AGREEMENT

1. The Fee Payable is a xed amount of money You will owe based on your Earned Income. It is not an interest
rate
2. The Payout Amount will be xed at Rs 24,999
3. You are not required to make any payments during Your Training period
4. You may be granted a grace period under very special circumstances to start the monthly payment,
which will only be granted by the Company at its sole discretion
5. You agree that you have not and will not enter into additional income-based agreements with another
Person and shall not undertake any other training which is in con ict or in addition to the Training and/
or the Payment Term.
2. You will ensure to reach the Prescribed Income Threshold of 3 LPA, after the the Training Completion
Date, in the event this is not achieved within the aforesaid time, this Agreement stands void;

2. PAYMENT OF FEES PAYABLE

2.1. Payment Term: The Participant’s payment is due as soon as the offer letter is handed out to the
participant.


I. Trigger Event: The payment term shall commence once get your offer letter
from the Training Completion Date with Prescribed Income Threshold

Document Ref: 4DXQC-68SNX-RNENG-J2DY4 Page 1 of 3

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 2.2. Payout Amount: The Participant’s payout amount shall be calculated as Rs 24,999 only, once the
participant joins with earned income greater than prescribed income threshold. The total payout will be
calculated as per below illustrations.

2.3. Payout in EMI’s and Timeline: The participant will pay a total 3 EMI’s of 8,333/- each at 0% interest
rat

EMI 1 - To be paid from from your rst salar

EMI 2 - At subsequent 30 days cycl
EMI 3 - At subsequent 30 days cycl

Illustration 1: The Earned Income is equal to Prescribed Income Threshold i.e INR 3,00,000

Annual Payment term Total Payout

Compensation Amount

TBD
INR 3,00,000 INR

24,999

Illustration 2: The Earned Income is INR 5,00,000

Annual Payment term Total Payout Amount

Compensation

TBD
INR 5,00,000 INR

24,999

Illustration 3: The Earned Income is INR 7,00,000

Annual Payment term Total Payout Amount

Compensation

INR 7,00,000 TBD

INR

24,999

3. OBLIGATIONS OF THE PARTICIPANT

1. Company as Processing Agent: You hereby consent to the Company or authorized Third Party Financial
Institution managing and processing all aspects of this Agreement, including but not limited to monitoring
your Earned Income in your Approved Bank Account, processing payments, and performing

Document Ref: 4DXQC-68SNX-RNENG-J2DY4 Page 2 of 3

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 reconciliations. You further agree to cooperate with all requests made by the Company in connection with
your compliance with the terms and conditions of this Agreement, including by providing information,
documents, and authorizations including of eNach, as requested from time to time.

2. Conversion of the Agreement: It is hereby agreed and con rmed by the Parties that the Company shall
be entitled to convert this Agreement into a loan agreement once the Participant gets into an Employment.
In such an event, the Third Party Financial Institution shall pay the Company the entire Fees Payable
(both accrued and outstanding) upfront and such Third Party Financial Institution shall be entitled to collect
the Fees Payable from the Participant as per the terms of this Agreement.

3. If to Company: -

Attention: VanshTaneja

Address: Ando Technologies Private Limited, PLA, Hisar, Haryana 125001

Email : hello@samaschool.in


The parties have entered into this Service Agreement as of the Execution Date.

For COMPANY

Authorized Signator

For PARTICIPAN

Ando technologies private limite

Document Ref: 4DXQC-68SNX-RNENG-J2DY4 Page 3 of 3

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Signature Certificate
Reference number: 4DXQC-68SNX-RNENG-J2DY4

Signer Timestamp Signature

Email: satodalkarmakarsayan@protonmail.com

Sent: 12 Feb 2022 09:29:14 UTC

Viewed: 12 Feb 2022 09:41:08 UTC
IP address: 223.223.138.152
Signed: 12 Feb 2022 09:43:48 UTC
Location: Kolkata, India

Document completed by all parties on:

12 Feb 2022 09:43:48 UTC

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