Proposal-cum-Agreement for Executive Search

Malladi Drugs And Pharmaceuticals

Limited
 Proposal cum - Agreement for Executive Search

Table of Contents

1. Introduction 3
2. Executive Search Process 4
3. Timeline for Recruitment 6
4. Randstad Advantage
7
5. Annexure - Agreement for Recruitment Services
8

Confidential Randstad Executive Search 2

 Proposal cum - Agreement for Executive Search

Introduction

Date: 16 th May,
2017

Dear Ms. Sruthi,

We would like to thank you for your interest in partnering with us for your
Executive Search needs.

Randstad India Pvt Ltd is one of the leading Executive Search firms
specializing in the business of EXECUTIVE SEARCH for domestic and
international corporations. Randstad India Pvt Ltd is part of the Randstad
Group the 2nd largest HR Services Company in the world. Randstad India Pvt
Ltd has a larger candidate base to select from, a more balanced geographical
spread throughout 53 countries and a wider service offering.

Randstad India Pvt Ltd also leverages upon the strength and spread of its
parent company Randstad. Randstad was founded in 1960 and is
headquartered in Diemen, the Netherlands. Randstad Holding NV listed on
the NYSE, Euronext Amsterdam exchange.

Randstad India Pvt Ltd has a team of Principal and Senior Consultants who
handle Search assignments across various industries supported by a team of
Consultants, Coordinators and Researchers who are spread across various
locations. Our core members who come from premier academic institutions
bring with them a wealth of experience from organizations of repute.

Our purpose is to identify well-qualified and motivated candidates and select

those best suited through comprehensive, quality assured search processes.
Effective communication, outstanding quality and integrity have been the
guiding principles when serving our clients enabling us to have a trustful
business relationship

We have successfully completed 3500 Executive search assignments in

Industries as diverse as
FMCG / Retail Pharma
Manufacturing Power
IT Enabled Services Infrastructure
Information Technology Banking/Financial Services

HIGHLIGHTS OF THE ASSIGNMENTS

More than 47% of assignments handled for multinational

corporations
Have
Confidential Randstad Executive Searcha strong domain experience with leading MNCs with
3
emphasis on Consumer Retail and Services sectors
 Proposal cum - Agreement for Executive Search

Executive Search Process

Our process is custom-tailored to the unique needs and style of each

client

The process starts with the consultant team understanding the clients
needs, the current organization structure, styles of operation, culture
and role linkages.

The coordinates of the assignment are frozen with mutual consent and
an elaborate Search Brief is written which is approved by the client.
However, amendments to the Search Brief are always possible in case
we need to course correct. The Search Brief has details on job
responsibility, critical attributes for the position, personal profile
required, the reporting relationship and a brief on the career
movement for that candidate. The consultants also try to understand
macro details such as the outlook for the industry, the growth pattern
and the micro details like the selection process, the recruitment time-
frame etc.

The search strategy is worked out by the Search Head, the relevant
companies both locally and internationally are clearly identified and a
list of the candidates to be headhunted generated.

If the search entails headhunting or requirement to look at talent from

overseas, Randstad gets in touch with its partners in UK, USA, UAE,
Singapore, Thailand, Hong Kong, China, Bahrain, Oman, Malaysia and
Sri Lanka.

The candidates are spoken to about the position at length and the
Consultants also understand the perspective of the candidate. If the
candidate is interested and if he is located at any of the major cities
where we have an office a senior member of our team meets him to
understand the softer aspects of the candidate.

An in-depth evaluation of the candidates is done to choose the right fit

and a psychometric profiling is also done if the client requires it.

On receiving the shortlist from the client, the meetings between the
client and the candidates are coordinated.

Additional candidates are developed, while interviews are in progress,

to ensure that a continuous stream of viable candidates is in process.

Verification of references and credentials done at the stage of the

candidate being offered.

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 Proposal cum - Agreement for Executive Search

Timeline for The Process

Recruitment

A typical executive search assignment takes 5-6 weeks to identify the right
SCHEDULE FOR A TYPICAL candidate.
SEARCH ASSIGNMENT
Wee Wee Wee Wee Wee Wee Wee Wee
BelowActivities
is the Activity schedule that
k1 goes
k2 in k3
for the
k4Search
k5 Mandates.
k6 k7 k8
Orientation with clients and understanding
the requirements
Preparation of Position Description: Search
Brief and Search Plan
Client Approval of Specifications: Search
Brief & Search Plan
Begin Research & Market/ Industry Scan
Research & Prospective Candidate
ACTIVITY Identification
Review with the client on Market scanning

Sourcing / Headhunting Candidates

Review with Client on the status of the
assignment
Meeting & Assessment of Prospective
Candidates
Presentation of Short listed Profiles to Client

Meeting of candidates with Clients

Client to decide and make an offer to the
selected candidates
Reference Checks and Offer formalities

Confidential Randstad Executive Search 5

 Proposal cum - Agreement for Executive Search

The Randstad Advantage

Breadth
Geographic Spread through Own Offices, Business Partner network,
Randstad network and other executive search networks.
Technology Backbone KEY INTEGRATOR ACROSS ALL LOCATIONS

Depth
Depth VERTICALISED TEAM STRUCTURE
Domain Expertise
Consultants professionally qualified with experience in the respective
domains

Process
Quality Documentation
Dyads anchoring each position

Research
Strong Research Team with exceptional Market Intelligence
Internal Knowledge Management Framework
Robust Assignment Tracking Process (Automated ASP Version)

Looking forward to a meaningful association.

Yours truly,

Mr. Kartik Rajamani

AVP and Centre Head
Randstad India Private Limited
Randstad House, Old No 5 & 5A, New No 9,
Pycrofts Garden Road,
Chennai - 600 006.

Confidential Randstad Executive Search 6

 Proposal cum - Agreement for Executive Search

Annexure Agreement for Executive Search Services

This Agreement is entered on this 16th day of May, 2017 at Chennai

1. The obligations of both parties is detailed as below

a. RANDSTADS OBLIGATION

Recording of Client Requirement - Search Brief

Provide the Client with suitable bio-data of potential candidates as per
the requirements of the Client as intimated to Randstad from time to
time.
Ensure that the potential candidates are given fair and accurate
information about the Client and the Clients requirements.
Provide to the Client any information about a potential candidate that
is in the knowledge of Randstad and disclosure of which information
may be considered to be relevant to the recruitment process and in
the interest of the Client.
Communicate and coordinate between the Client and the potential
candidate in fixing the venue, time or such other matters relating to
meetings between the Client and potential candidate.
The Client will handle the offer process. Randstad shall assist the
Client with the co-ordination of acceptance of job offers by and
between the potential candidate and the Client as required.

b. CLIENTS OBLIGATION
In the Search Brief, a clear and comprehensive description of the
requirements it seeks in a potential candidate. This would include
description of the position for which recruitment is sought, person and
qualification specifications, relevant organization details, CTC bracket
per position, etc, as is necessary for Randstad to effectively perform its
obligations under this Agreement
Give to Randstad true, fair and accurate information about itself to be
furnished by Randstad to the potential candidate
Intimate Randstad within 2 days of receiving the bio-data of a potential
candidate if the Client is already in possession of or has already
considered the bio-data of the said candidate
In the event that a potential candidate comes to your attention
through a reference, the same would be referred to Randstad, for
evaluation in concurrence with the process and other candidates that
Randstad develops
Exercise abundant care and caution in handling the bio-data and
information provided to the Client by Randstad - such that - no
Confidential Randstad Executive Search 7
unauthorised use or misuse is made of the same
Upon recruitment of a potential candidate, intimate the fact of such
recruitment and hand over a copy of the Appointment Letter within 7
 Proposal cum - Agreement for Executive Search

Annexure Terms of Engagement and Fee

2. Professional Fee: India Position Schedule

The standard fee for Randstads professional service is 20% of the total
annualized compensation on a 1/3rd model i.e The standard payment on
the professional fee is on a 1/3rd 1/3rd 1/3rd model (On Start On
Offer Acceptance On Candidate Joining).
The compensation would include the basic salary, all committed
allowances, incentives and benefits.

3. Payment Terms
a. The non-refundable Retainer Fee equivalent to 1/3rd of the estimated
Professional Fee will be taken in advance, immediately upon sharing the
requirement. Work as per agreement will commence only upon receipt of
the full retainer fee.
b. Upon offer being made to the candidate, 50% of the balance payment
(hereinafter referred to as second installment) will be payable within
Fifteen (15) working days of the invoice date and the final payment (of
balance 50%) will be reconciled based on the actual CTC offered to the
candidate.
c. This final payment shall be payable by the Client within 15 working days
of the invoice raised by Randstad after joining of the candidate.
d. The Client shall reimburse all travel, food, accommodation and other
related expenses incurred by Randstad for the purpose of this Agreement.
e. The Client shall engage Randstad as an exclusive service provider and
no other service provider by whatsoever name called shall be engaged by
the Client to work on the mandates/positions in India or Abroad for a
period of 6 weeks.
f. Where a mandate is withdrawn or closed by the Client for any reason
whatsoever, the retainer amount received shall be squared off against the
work done by Randstad.

4. Taxes
Service tax, GST or any other applicable tax/Cess at applicable rates shall
be charged separately on the invoices which shall be borne by the Client.

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 Proposal cum - Agreement for Executive Search

5. Client Speak
In case you intend to voice your concern, suggestion or appreciation for
the work / the assignment being handled currently, please feel free to mail
to client.speak@randstad.in

6. Additional Understanding

a. Search Brief details will be communicated by the Client stating the

requirements of the Client, including description of the position for which
recruitment is sought, person and qualification specifications, relevant
organization details, CTC bracket per position, etc., as is necessary for
Randstad to effectively perform its obligations under this Agreement.
b. In the event that a potential candidate is recruited by the Client for any
position/post/vacancy other than which he was originally intended for,
within 20 months of Randstad providing his bio data to the Client, then the
terms of this agreement shall apply as if the potential candidate was
intended for the position/post/vacancy that he has actually been recruited
to.
c. The Retainer Fee paid is non-refundable if the Client chooses to
withdraw the assignment.
d. Randstad will not offer a placement opportunity to a candidate
recruited by the Client in pursuance of this Agreement for the period that
the contract is valid and provided that the recruited candidates
employment is not affected by conditions of redundancy, closure,
restructuring, change of management or such circumstances of the Client.
e. Randstad shall not be held liable for any inadequacies or inaccuracies in
information (as provided to Randstad by Client to be communicated to the
potential candidates) as provided to or understood by the potential
candidates
f. The ultimate decision on recruitment of personnel and of the completion
of the recruitment process rests solely with the Client, to be exercised at
its discretion or pleasure or in accordance with its policies.

7. Replacement

a. In the unlikely event of the candidate leaving within 4 months

(120 days) of joining duty, Randstad would provide a free
replacement candidate in lieu of the service fee charged.
b. The replacement clause will be considered null and void if the
payment is not made by the Client within the stipulated time frame.

8. Limitation of Liability

a. Under any circumstance, for any reason whatsoever, neither party

shall be liable for any incidental, ancillary, direct, indirect, special,
punitive or consequential damages, including, but not limited to lost
profits or injury or death, whether in tort or contract or based on
any theory of liability. Notwithstanding anything contrary contained
in this Agreement, in no event shall the aggregate maximum
liability of Randstad for direct damages under this Agreement
Confidential Randstad Executive Search
exceed a sum equivalent to 5% of the fees paid by the Client in the9
immediately preceding twelve (12) months of the date of the cause
of action.
 Proposal cum - Agreement for Executive Search

9. Confidentiality Clause

It is further understood by and between Randstad and the Client that:

a. Randstad will not disclose information that may be classified as

confidential, that it may receive or obtain as a result of entering
into this Agreement

b. The Appointment Letter and the terms contained therein are

confidential information and shall be used by Randstad only for
the purposes of billing and accounting

10. Validity

a. This Agreement shall come into force and effect from 16 th May,
2017 and shall remain in effect for a period of One (1) year from such
date. Randstad or Client may terminate the Agreement without any
cause by providing the other party a thirty (30) day prior written
notice.

b. Any departure from the terms as specified in this contract for a new
position will necessitate the drawing of a new contract for that new
position provided such departure is communicated in writing to the
Client.

11. Applicable Law and Jurisdiction

This Agreement shall be construed, and the legal relations between

the parties hereto shall be determined, in accordance with the laws of
India, and the Parties consent to the jurisdiction of the courts of
Chennai, India for settlement of any disputes that may arise under this
Agreement.

12. Force Majeure

No failure or omission by either party to perform any of the
obligations of this Agreement by any of the Party shall give the other
Party a claim against such Party, or be deemed a breach of this
Agreement, if and to the extent that such failure or omission arises
due to Force Majeure conditions. The term Force Majeure, shall
include, without limitation, earthquake, fire, flood, epidemic, act of
Confidential Randstad Executive Search 10
war, whether declared or undeclared, blockade, epidemic, terrorism,
 Proposal cum - Agreement for Executive Search

13. Dispute Resolution

All disputes arising out of or in connection with this Agreement shall be
attempted to be settled through negotiation between senior
management of both the Parties. If any Dispute arising between the
parties is not amicably settled within reasonable period of one
month of commencement of attempt to settle the same, the
Disputes shall be referred to arbitration under the provisions of the
Indian Arbitration and Conciliation Act 1996 as amended from time
to time. The parties agree (i) that the Arbitration proceedings will
be conducted in Chennai and (ii) the panel of arbitration shall
consist of three (3) members, one each appointed by the parties
and the third appointed by the nominee arbitrators by consensus

14. Business Ethics

Both the Parties shall continue to perform the obligations under this
Agreement without breaching the terms and conditions and shall follow
the general business ethics of the market. When there are some non
adherences from a Party, the other Party shall be at liberty to point out
the same and shall allow the Party to rectify the same within
reasonable period of time. Such non adherences shall include but not
limited to recruitment terms, payment terms etc.

IN WITNESS WHEREOF, the Parties have caused this Agreement to be

executed by and through their duly authorized representatives as of
the date written herein.

PARTIES TO THE AGREEMENT

For Malladi Drugs And For Randstad India Pvt. Ltd.
Pharmaceuticals Limited
signature
signature Mr. Kartik Rajamani
[Name ] AVP and Centre Head
Randstad House,
[Designation]
9, G S T ROAD, ST. THOMAS MOUNT CHENNAI
Old No 5 & 5A, New No 9,
TN 600016 IN Pycrofts Garden Road, Chennai -
600 006.
SealSearch
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