INCOME SHARE AGREEMENT
This Income Share Agreement (“ISA” or “Agreement”) is between: Student , (hereinafter referred to as the “Student”, “Trainee”, “You”, or “Your”, and which expression shall mean and includes the legal heirs, executors and administrators of the student) of the ONE PART;
PARENT / GUARDIAN / SPOUSE (hereinafter referred to as the “Parent”, and which expression shall mean and includes the legal heirs, executors and administrators) of the SECOND PART.
Avodha Edutech Private Limited registered under the Ministry of Corporate Affairs as a Private Limited Company with registered address at 726 Cross Cut Road Tatabad Coimbatore Tamil Nadu 641012 India (hereinafter — “the Company”), as the licensor of interactive platform for remote learning Avodha.com (hereinafter — «Avodha.com»)
THIS IS A LEGALLY BINDING CONTRACT . READ IT CAREFULLY BEFORE SIGNING. BY ENTERING INTO THIS AGREEMENT, YOU AGREE THAT IN RETURN FOR RECEIVING THE TRAINING PROVIDED BY Avodha Edutech Private LTD., YOU WILL PAY A PORTION OF YOUR EARNED INCOME TO THE COMPANY IN ACCORDANCE WITH THE TERMS AND CONDITION OF THIS AGREEMENT. THE AMOUNT YOU MUST PAY UNDER THIS AGREEMENT SHALL NOT EXCEED THE PAYMENT CAP (HEREINAFTER DEFINED). YOUR PAYMENT OBLIGATION IS CONTINGENT ON AND SHALL COMMENCE ONCE YOUR EARNED INCOME EXCEEDS THE THRESHOLD PERCENT.
IF YOU ARE UNDER 18 (EIGHTEEN), PLEASE, ASK YOUR REPRESENTATIVES IN LAW (PARENT, CAREGIVER OR LEGAL GUARDIAN) TO REFER TO THE CONDITIONS OF THE CONTRACT
A. The Company is engaged in the business of training students offering various courses; and
B. You have agreed to enroll with the Company for availing the Training on the terms and conditions as stated in this Agreement.
In consideration of the Training provided to You by the Company, and subject to all of the terms, covenants, promises, and conditions contained in this Agreement, You and Company agree as follows:
For purposes of this Agreement:
1.1 “Earned Income” / “CTC” means Your total salary (including variable pay), compensation, and gross income from employment or pursuant to self-employment in the fields in which the company has provided the student with training, reported or required to be reported on an income tax return. Earned income also includes any non-cash consideration received or deemed earned by You, directly or indirectly, including, but not limited to, contributions to qualified and non-qualified deferred compensation and retirement benefit plans, fringe benefits not reported as wages for compensation, income, and distributions from Your active participation in any entity, and equity rights or deferred compensation generated or attributable to the current period of Your employment. In addition, Earned Income includes any amounts earned by or payable to You, directly or indirectly, as a result of Your provision of services to a related party. At its discretion, the Company may estimate Your Earned Income using documentation other than Your income tax return, provided that the documentation is another verifiable source acceptable to Company. It is clarified that any dispute on Your Earned Income (including if the Earned Income was earned pursuant to the skill developed through Training) shall be determined by the Company at its sole discretion and such determination shall be binding on You.
1.2 “Employer” means any person or organisation for which You provide services, either as an employee or as an independent contractor or in any other manner whatsoever.
1.3 “Graduation Date” / “Graduation” shall mean the date on which You have completed and passed all
curriculum-related assessments either listed in the Course or as personally assigned to You by career coaches of the Company and a certificate of graduation from the Course is issued to You by the Company.
1.4 “Income Share” refers to a fixed percentage of Your Earned Income. Your Income Share under this Agreement is 7% (seven percent) of the Earned Income, subject to adjustment for underreporting or overreporting of Earned Income, as described herein.
1.5 “Avodha” refers to a product of the Company
1.6 “Monthly Payment” means the amount of Your Income Share times Your Earned Income.
1.7 “Payment Cap” equals Rs. 2,00,000.
1.8 “Payment Term” refers to the period commencing upon Your Earned Income exceeding the Threshold Percent and during which period You have an obligation to make Monthly Payments to the Company, as provided under this Agreement.
1.9 “Person” means any individual, partnership, corporation, limited liability partnership, trust or unincorporated association, joint venture, or other entity or governmental body.
1.10 “Prepayment Amount” means payment or payments made by You to the Company that will extinguish Your obligations under this Agreement and the Loan Agreement prior to the end of the Payment Term. Prepayment Amount equals the Payment Cap less any Monthly Payments already made under this Agreement, plus any outstanding fees or other amounts that You may owe Company under this Agreement.
1.11 “Threshold Percent” means that upon receiving your offer letter/employment agreement and/or Your CTC / Earned Income exceeding the Threshold Amount, i.e., equals Rs.20,000 (Rupees Twenty Thousand Only) (Gross Income), which is equivalent to Rs. 2,40,000 (Rupees two lakh forty thousand only) annually (CTC), You agree to pay to Avodha Edutech Private Limited the Monthly Payments in the manner as set out in this Agreement . It is certified that CTC will include the total of the fixed salary (+) the variable pay (+) the employment benefits.
1.12 “Training” / “Course” means the course offered by the Company to You.
2. THIS IS NOT A LOAN
2.1. In making monthly payments to Company, you will not be repaying a student loan. In the case of a student loan, a student borrows a set amount and repays the principal amount of the loan plus interest or a finance charge, or both. Under this agreement, you will instead pay a fixed percentage of your income each month for up to a maximum number of payments.
You acknowledge that the income-tax consequences of this agreement need to be explored by You and that Company has not provided you with any tax advice and has not assured you of specific tax consequences. You acknowledge that you have had an opportunity to consult with your own advisors about the tax implications of entering into this agreement.
3. RIGHTS AND OBLIGATIONS UNDER THIS AGREEMENT
3.1 The company agrees to provide You with the Training, subject to the terms and conditions of this Agreement.
3.2 It is clarified that CTC for calculating the “Threshold Percent” will include the total of the fixed salary (+) the variable pay (+) the employment benefits.
3.3 In consideration of the Company providing You the Training, You agree to pay to the Company (a) not longer than a total of 1 (year) continuous Monthly Payments commencing from the month in which Your Earned Income / CTC increased by the Threshold Percent; or (b) until the amounts repaid by You to the Company reaches the Payment Cap, whichever occurs first (“Payment Satisfaction”).
3.4 It is clarified that if You do not make payment of the Monthly Payments for any month after Your Earned Income increased by the Threshold Percent, then the period of 1 (year) as set out in point (a) above shall be extended by such number of months in which You did not make payment
of the Monthly Payment. It is clarified that CTC will include the total of the fixed salary (+) the variable pay (+) the employment benefits.
3.5 It is clarified that Your obligation to pay will commence if You get a job independently or through the placement process of the Company if your CTC is increased higher than by the Threshold Percent. It is clarified that CTC will include the total of the fixed salary (+) the variable pay (+) the employment benefits.
3.6 This Agreement shall be valid for a period of 16 (twelve) months from the Graduation Date.
4. COMPANY AS PROCESSING AGENT
You hereby consent to Company managing and processing all aspects of this Agreement. You further agree to cooperate with all requests made by the Company with respect to Your compliance with terms and conditions of this Agreement, including by providing information, documents, and authorizations, as requested from time to time.
5. OBLIGATIONS OF THE STUDENTS
5.1 Filing of Income-Tax Returns
5.1.1 For the assessment year in which Your Payment Term begins through the assessment year in which Your Payment Term ends, You agree to file your income tax returns no later than the income tax filing deadline of each year, and to timely file any state or local tax returns by the applicable due date. You agree to perform any similar requirements or procedures for any other country’s taxing authority, as applicable.
5.1.2 You shall submit to the Company, on or before the 10 August of every calendar year, the proof of filing of the income tax returns as set out in Clause 5.2.1 above till such time as an amount equal to the Payment Cap has been repaid.
5.1.3 If You fail to file the income tax returns as set out in Clause 5.1.1 above and to submit to the Company the proof of filing of the income tax returns in the manner as set out in Clause
5.1.2 above, the Company shall be entitled to pursue legal proceedings and the Company shall also be entitled to transfer the amounts payable by You from your bank account to the bank account of the Company.
5.2 Information Obligations of the Student
5.2.1 You shall provide to the Company, Your salary slips as provided by the Employer or such other proof of payment as required by the Company on a monthly basis by emailing the same to such email address as designated by the Company.
5.2.2 If You fail to provide the salary slips or such other proof of payment as required by the Company for one calendar quarter, the Company shall issue You a request calling upon you to provide the salary slips or such other proof of payment as required by the Company.
5.2.3 If, however, You fail to provide the salary slips or such other proof of payment as required by the Company for two consecutive months, the Company shall be entitled to take necessary for the recovery of the amount due and payable by You and the Company shall also to transfer the amounts payable by You from Your bank account to the bank account of the Company.
5.2.4 In addition to the salary slips, You shall provide to the Company, the offer letter/employment agreement issued by an Employer along with the bank statement for the Approved Bank Account, and such other bank accounts in which Your Earned Income is deposited.
5.3 Your Obligations in Relation to Securing a Job Offer
5.3.1 For the Company to assist You to secure a job for You, You must have completed and passed all career development tasks either listed in the Course/curriculum in the order they appear in the Course or as personally assigned to you by career coaches of the Company and shall have completed your Graduation. It is clarified that if You do not complete and pass the Graduation, You will not be eligible to appear for placement through the placement services of the Company.
5.3.2 You agree and undertake to make the best efforts to secure a job in the field of training provided to you including by way of making applications to the concerned companies. You agree and undertake that You shall not be dependent solely on the Company for procuring a job offer for You. You further agree and understand that the Company is a Training institute and is not a placement agency.
5.3.3 You hereby agree that:
(a) You agree to accept job offers and to relocate for the purposes of a job secured either through the placement related services of the Company or through your own efforts.
(b) You shall be active in Your job search and reject not more than 5 job opportunities provided to you by the company.
(c) You should actively take guidance from Your mentor from the Company and from the placement services team of the Company and You shall be bound to follow their recommendations including in making applications for such jobs that are appropriate for You as decided by the Company.
(d) When making applications for a job, You should apply for roles that are suited to Your level of experience and areas of expertise and as will be determined by the Company and You shall also maintain realistic expectations about the nature and kind of job that You are likely to be offered considering the level of Your experience and expertise.
(e) You must provide the placement team of the Company with a weekly summary of applications that You have made for securing a job and all other related activities and efforts were undertaken by You for securing a job and shall also provide such further information as required by the representatives of the Company within a period of 3 (three) days from the representatives of the Company requesting for any information.
(f) You must respond to placement-related communications from representatives of the Company within 72 hours by email.
(g) You must always act reasonably and take all necessary efforts in good faith efforts to secure a job.
5.4 Payment of the Payment Cap
Upon the occurrence of the events as set out in this Clause, You shall pay to the Company, the entire Payment Cap within the timelines as set out in this Clause:
5.4.1 If You secure a job that is related to the course you have studied with Avodha within a period of 1 (one) year from the Graduation Date.
5.4.2 If the Company procures an offer for You from an Employer in the field you have studied with Avodha and you reject the offer after issuing of offer letter. In this case, the student is obliged to make full payment of the sum equivalent to 7% of the monthly salary within 90 days from the date of cancellation of the Course or from the moment of dismissal from the current job.
5.4.3 If You do not attend the interviews for the placements offered by the Company for more than 5 interviewsfrom the Graduation Date.
5.4.4 If You decide to pursue any education program or any advanced course in any field within a period of 6 (six) months from the Graduation Date.
5.4.5 You do not put sufficient and consistent effort into securing a job and as more particularly set out in 5.3.3.
5.4.6 You do not communicate with the placement team of the Company consistently throughout Your search for a job and do not notify/inform the Company of any of the offers that You have received.
5.4.7 You do not follow through with the interview process in a timely and professional manner, including but not limited to, not participating as expected by the employer in the interview process by providing responses to employer communications, not showing up on time for interviews and not providing documents or not following up as expected by employers.
5.4.8 You do not apply for jobs that are suitable for your background or experience as discussed in Your calls with Avodha’s career services team.
5.4.9 You are in breach of your obligations as set out in Clause 5.3.3.
5.4.10 In case of 5.4.1, the Payment Cap shall be payable within a period of 15 (fifteen) days from the expiry of the period of 1 (one) year from the Course Completion Date.
5.4.11 In the case of Clause 5.4.2, the Payment Cap shall be payable within a period of 45 (forty-five) days from the date of an offer is made to You by an Employer.
5.4.12 In case of Clause 5.4.3 above, the said Payment Cap shall be payable within a period of 15 (fifteen) days from expiry of the period of 2 (two) months from the Graduation Date.
5.4.13 In the case of Clause 5.4.4 to Clause 5.4.10, the Payment Cap shall be payable within a period of 15 (fifteen) days from the Graduation Date.
5.4.14 If the Payment Cap is not paid in the manner as set out in Clause 5.4, then the Company shall be entitled to take necessary steps for recovery of the amount due. The Company shall also be entitled to sweep from Your designated bank account the amounts payable by You to the Company.
6. MAKING PAYMENTS FROM EARNED INCOME
6.1 Once Your Earned Income Growth, either on account of securing a job or a change in job or on account of an increment granted to You by an Employer, exceeds the Threshold Percent at any time during a period of 1 (one) years from the Graduation Date, the Payment Term will commence and You shall be liable to pay to the Company the Monthly Payments. Such payment to the Company shall be made on or before such day of each calendar month as stipulated in the Agreement (“Payment Due-Date”).
6.2 Once Your Earned Income Growth exceeds the Threshold Percent, You will be liable to pay to the Company the Monthly Payment for a continuous period of not more than 12 (twelve) months.
6.3 In the event of the termination of Your employment or if Your income falls below the Threshold Percent, Your obligations to make the Monthly Payments to the Company from your own income shall cease temporarily till the time your Earned Income Growth exceeds the Threshold Percent.
6.4 If your employment is terminated, the Company shall, on a best effort basis, attempt to secure You a new employment. It is however clarified that there should be no obligation on the Company to secure a new employment offer for You. The provisions of Clause 5.3.3 shall be applicable to You in such case and You shall also be bound by all the placement-related guidelines stipulated by the Company.
6.5 Default in payment of the Monthly Payments – in the event of a delay in making payment of the Monthly Payment, of more than 30 (thirty) days beyond the Payment Due Date (“Payment Default”), the Company shall be entitled to initiate legal actions for recovery of the amounts due and payable to the Company. Further, on account of Payment Default, You will be liable to pay such additional amounts and/or default charges as set out in the Agreement. The Company may, at its discretion, initiate appropriate legal proceedings for recovery of the amounts due and payable under the Agreement. The Company shall also be entitled to sweep from your designated bank account the amounts payable by You to the Company.
7. The obligation of the Student in Event of Withdrawal from Course Training
7.1 If You decide to drop off / Withdraw anytime after 2 weeks of the Course, You shall pay to the Company:
Rs. 8000 for each month of your training
Rs. 8000 for leaving in the first month,
Rs. 16,000 for leaving in the second month,
Rs. 24,000 for leaving in the third month of training,
8. Reporting of all Earned Income – Upon completion of Your Training and throughout the Payment Term, You agree to communicate: (i) Your Earned Income (ii) all employment positions You accept including, if requested, a description of the business and products or services provided by each Employer and the nature of Your position with each Employer; (iii) Your projected annual gross Earned Income; and (iv) any changes in employment. You further agree during the Payment Term to update any changes in Your Earned Income within thirty (30) days of any event giving rise to such change.
9. Deposit of all Earned Income into Bank Account- You agree that during the entire Payment Term You shall deposit all Earned Income received by You from any and all sources directly into Your Bank Account. If You are employed, You agree to cause Your Employer to arrange for the direct deposit of all of Your Earned Income to Your Bank Account. Your refusal or failure to establish the Bank Account for the purpose of making Monthly Payments or other payments hereunder shall not relieve You of any of Your obligations under this Agreement.
10. Survival of Obligations- Expiration of the Payment Term only terminates Your obligation to make Monthly Payments from Earned Income. However, it does not terminate this ISA or any continuing obligations You may have to the Company to this Agreement, including but not limited to the obligation to make an additional payment if the Company determines that You underreported Your Earned Income.
From time to time during the Payment Term, and for a period of one (1) year following the end of the calendar year in which the Payment Term expires, Company shall have the right to examine and audit Your records pertaining to Your employment and to verify your Earned Income at any point to ensure that You have properly reported or projected Your Earned Income and to verify that the Company has properly calculated the Monthly Payments due and payable under this Agreement (“Reconciliation”). You agree to cooperate with the Company in the Reconciliation process.
12. Confirmation of Earned Income and Employment- To permit the Company to perform Reconciliation, You agree that You shall, within thirty (30) days of a request by the Company provide the Company with the name, address, and phone number of any Employers from which You have received Earned Income and authorise each of Your Employers to disclose to the Company all forms of cash and non-cash compensation paid or provided to or earned by You and provide such other documentation (including Your salary slips, a summary of any non-written or oral non-cash consideration, equity or deferred compensation arrangements) as may be reasonably requested by the Company for the purpose of performing the Reconciliation.
13. Underreported Earned Income – If at any time during the Payment Term or pursuant to Reconciliation, whether intentionally or unintentionally, You under-report Your Earned Income, resulting in a lower amount of Monthly Payment being made to the Company, Company will have the right to revise the Monthly Payment, in its discretion, by (A) increasing Your Income Share for Monthly Payments payable to the Company for each subsequent month, to a maximum of 1.5X of Earned Income; or (B) adding a fixed monthly underpayment fee which shall not exceed 10% of Earned Income per month (“Underpayment Fee”), until such time as the discrepancy has been corrected.
Alternatively, if a Reconciliation shows that You underreported Your Earned Income at any time during the Payment Term so that You made one or lower Monthly Payments than Company is entitled to receive under this Agreement, Company shall give You notice within 15 (fifteen) days of completion of the Reconciliation of the amount of the underpayment and reasonable documentation of the underpayment calculation. You agree to pay the Company the aggregate amount of the underpayment within sixty (60) days of receiving such notice. The Company shall also be entitled to sweep from your designated bank account the amounts payable by You pursuant to this Clause.
14. CAP ON PAYMENTS; PREPAYMENT AMOUNT
14.1 Payment Cap – The total Monthly Payments payable by You to the Company under this Agreement shall not exceed the Payment Cap.
14.2 Prepayment Amount – You may at any time pay in full Your obligation to the Company by paying an amount equal to the Prepayment Amount.
15. ADDITIONAL PROVISIONS AFFECTING PAYMENTS
15.1 International Work – If You move out of India during Your Payment Term, You agree to continue to report Earned Income and to continue paying Your Income Share of Earned Income during the Payment Terms. You shall not be in breach of this Agreement so long as You continue to make the required Monthly Payments pursuant to the terms of this Agreement.
15.2 Waiver of ISA Due to Death or Total Disability- We will waive what You owe under this Agreement, including any past due amounts and fees, in the case of any unfortunate event leading to death or permanent total disability; if You would like to assert a waiver based on disability, You will need to provide documentation showing that You have been found to be permanently disabled by the state agency due to a condition that began or deteriorated after the Effective Date.
15.3 Upon your Graduation (i.e., when a graduation certificate is issued to you by the Company) and if you fail to secure employment or pursuant to self-employment in the field in which you received training in Avodha for a period of 3 months from the Graduation Date, Your Income Share Agreement will be waived and terminated, subject to adhering to placement terms and conditions as set out in clause 5.3.3 and such other terms and conditions as stipulated by the Company from time to time.
15.4 In the event you do not secure employment in the field related to the job you have studied with us within 3 months of completing the course at Avodha (i.e when a graduation certificate is issued to you by the Company) you will receive a refund of the fees paid while studying at Avodha, pursuant to the Terms and Conditions outlined in section 25 of this agreement.
15.4. Company has the right to assign the Contract to third parties, namely banks and financial organisations. Student agrees to such an assignment.
16. COVENANTS AND REPRESENTATIONS OF STUDENT
By entering into this Agreement, You represent, warrant, and promise to the Company as follows:
16.1 That You are entering into this Agreement in good faith and with the intention to pay the Company by making Monthly Payments or the Course Fee payment when due;
16.2 That all the information You have provided to Company in connection with entering into this Agreement is true and accurate and that You have not provided any false, misleading, or deceptive statements or omissions of fact;
16.3 That You are an Indian citizen or a permanent resident and the legal right to work in India;
16.4 That You will make reasonable and good faith efforts to seek employment immediately following completion of the Training and during all times during the Payment Term that You are not employed or that You have Earned Income less than the Threshold Percent;
16.5 During the Payment Term, You will timely report to the Company any changes in Your employment status. Further, during the Payment Term, You will not conceal, divert, defer or transfer any of Your Earned Income (including but not limited to any non-cash consideration, equity, or deferred compensation rights granted to You) for the purpose of avoiding or reducing your Monthly Payment obligation or otherwise;
16.6 That You will timely and fully provide all information and documentation required under the terms of this Agreement or as reasonably requested by Company (including any assignee of Company) and that such information or documentation shall be true, complete, and accurate;
16.7 That during the Payment Term, You will file all tax returns and reports as required by law, which shall be true and correct in all material respects, that You will report all of Your Earned Income on such returns, and that You shall pay all taxes and other assessments when due;
16.8 That You shall keep accurate records relating to Your Earned Income for each year of Your Payment Term, including any invoices or payments relating to self-employment services You provide; and
that You will retain all such records for a period of at least one (1) year following the date You fulfil all Your payment obligations under this Agreement.
17.1 This Agreement shall be effective from the Execution Date and shall be valid and binding till an amount equal to the Payment Cap has been repaid by You in the manner as set out in this Agreement.
18. BREACH AND REMEDIES
18.1 Remedies upon Breach – Upon breach by You of this Agreement, the Company shall be entitled to:
(i) collect the amounts due and payable by You under this Agreement; (ii) enforce all legal rights and remedies in the collection of such amount and related fees (including any rights available to Company to garnish wages or set off any tax refund and to sweep from your designated bank account the amounts payable by You to the Company); or (iii) utilise any combination of these remedies. You agree to pay the Company’s costs incurred by the Company for recovery of the amounts due and payable by You under this Agreement, including reasonable attorney fees, collection fees charged by a taxing authority for tax refund set-off, and any other fees or costs.
19. GENERAL PROVISIONS
19.1 Entire Agreement- This Agreement sets forth the entire agreement and understanding of the Parties relating to the subject matter herein and supersedes all prior or contemporaneous discussions, understandings, and agreements, whether oral or written, between You and the Company relating to the subject matter hereof.
19.2 Amendments- This Agreement cannot be modified or amended except with the written consent of both Parties.
19.3 No Waivers- No delay or failure on the part of either Party to require performance of any provision of this Agreement shall constitute a waiver of that provision as to that or any other instance.
19.4 GOVERNING LAW. This agreement is as per Indian law and this law governs all adversarial proceedings arising out of this agreement, your Company tuition, or your payments to Company.
19.5 The parties hereto agree that any suit, action or proceedings under or in connection with or arising out of this Agreement shall be brought solely and shall be confined to the exclusive jurisdiction of courts at Coimbatore, India.
20.1. Arbitration. In the event of there being any dispute or difference among the parties concerning the validity or interpretation of this Agreement or anything contained herein, or in connection therewith or relating to any of the rights, duties, obligations, or the performance thereof, such dispute shall, failing mutual agreement of the parties hereto to settle it in any other way, be referred to arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996 or any statutory modification or re-enactment thereof from time to time. The arbitration proceedings shall be conducted in English and the venue of such arbitration shall be Coimbatore, India. It is expressly agreed that in the event of reference of any dispute to arbitration, the Property Manager and the Lessor together shall be entitled to appoint one arbitrator and the Lessee shall be entitled to appoint one arbitrator and the two arbitrators so appointed shall appoint an umpire.
For any reason related to this agreement, including any amounts you owe, Company may contact you at any physical or electronic addresses or numbers (including wireless cellular telephone numbers, ported landline numbers, VOIP, or other services) you have provided Company or provide Company in the future. Company may use any means of communication, including postal mail, electronic mail, voice calls, text messaging, and recorded message using automatic-dialling devices. You may ask that Company not contact you using one or more of these means of contacting you. Changing Your Contact Information
You must notify Company no later than 30 days after change in your primary residence, your phone number, email address, or any other contact information you previously provided Company.
You agree and understand that as part of the Course, the Company will make available to You various course materials including by way of the online course, assessment material, study modules, and various other information/documents (“Confidential Information”). You agree to treat as confidential the Confidential Information and shall not during the duration of the Course and for a period of 5 (five) years from the Course Completion Date disclose any such Confidential Information to any person, firm, corporation, association or other entity for any reason or purpose whatsoever.
23. Severance – If any provision of this Agreement or part thereof is rendered void, illegal or un-enforceable in any respect under any law, the validity, legally and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.
24. VERIFICATION OF REVIEW AND INDEPENDENT DECISION TO ENTER INTO ISA
By signing below, You acknowledge and agree that this Agreement is entered into voluntarily and as an arms-length transaction. You further acknowledge and agrees with each of the following: (i) that You are of legal age to execute this Agreement; (ii) that You have had the opportunity to read this Agreement and to review its terms and conditions with Your legal and financial advisors of Your choosing; (iii) that Company is not an agent or fiduciary or advisor acting for Your benefit or in Your favor in connection with the execution of this Agreement; (iv) that Company has not provided You with any legal, accounting, investment, regulatory or tax advice with respect to this Agreement; and(v) that Company has not made any promises or assurances to You that are not expressly set forth in writing in this Agreement. You understand that, by entering into this Agreement, You are irrevocably agreeing to share a fixed portion of Your future Earned Income in consideration of receiving the Training / Course, in accordance with the terms and conditions of this Agreement.
25. Exceptions to Refund Policy – The following are some rejections to our refund policy, in the following circumstances you will not receive the refund.
25.1. If you reject more than 5 Interview Oppurutinites or Job Vacancies provided by Avodha Placement Services. Rejection is defined as not applying for a job that Avodha Placement Services has requested you to apply for either via Whatsapp or via Email
OR not attending an Interview that has been scheduled for you by Avodha Placement Team.
25.2 If you take more than 5% leave of absence from classes during your course.
25.3 If you submit more than 30% of projects late to your tutor during your course.
Party 1 Witness 1
Avodha Edutech Private Limited Address
726 Cross Cut Road
Tamil Nadu 641012
Party 2 Witness 2