Agreement on Project Execution with Investment along

with Chennai Care

Pre amble:

To Share the working load in Management and to stream line the project execution
following has been agreed.

Chennai Care services private limited, a private limited Company constituting the
Directors as per MOA & AOA herein after called as Party one or Company

Sheikh M sherfuddeen s/o Sheikh Mohideen , presently the COO of the company
here after called as Party Two or Investor

This agreement are to be followed by the signatories of this document in the Project
Execution of Chennai Care Services Private Limited with joint participation in
funding and project execution.

These guidelines will be followed for any project which has participation by the
investor with investment to run the project. Based on the monthly review by the
Company and the investor of the project ,the guidelines will be extended/ modified
to other projects on mutual agreements.

Modalities:

1. It is mutually agreed to follow these principles for the execution of School

building Construction at Alivalam, Tiruvarur.

2. The working of these guidelines in the execution of this project will be studied
for the initial period of 2 to 3 months and a mutual decision will be taken to
apply these as it is or with further improvements to subsequent projects.

3. It is mutually agreed to fund this project in the ratio of 50% to 50% by the
company and the investor and thereafter the funding will be done then &
there by both parties as per the requirement of the site and on need based.
This is to cover the operating expenses. Capital expenditure will be
accounted separately and the same will be utilized by the future projects of
same modalities

4. The day to day requirement will be approved by the Investor and MD on

recommendation from the Execution Head (at present Sr.G M) of the
Company with mutual intimation to the other. A separate Project Code is to
be allotted to this work and all the related expenses shall be booked in this
project code. All relevant expenses shall be approved or put to the
information of the investor.
5. The whole project will be managed by the Investor in coordination Sr.General
Manager/ GM/ Site Engineer who is to be employed by the Company with the
agreement of the Investor.The salary and other expenses for this site
engineer shall be booked on this project code.

6. Mr. Annadurai is proposed to be co coordinating in Tiruvarur for the

procurement of local materials and other contingencies that may arise at
Tiruvarur. A suitable compensation shall be decided and paid under this
Project code.

7. An account person will be deployed at site and every expenses will be routed
through him. The salary and incidentals pertaining this person shall be
booked in this project code. He will be in Charge of Stores activities also with
the guide line issued by Sr,GM and Investor

8. The job is proposed to be executed as below

Major procurements (approvals by Sr GM and Investor)

Civil Works (preferably through Labor and if feasible through a sub Contractor

Shuttering, Electrical and plumbing through a sub Contractor

Selection of SlC shall be managed with company’s team (GMs) along with the
Investor.

Delegation of authorities will be drawn and issued in due course

9. The day to day co ordination of the work shall be done by the company
executives with then and there posting of information to the Investor.

10.The indirect expenses towards the use of other office personnel like client
care and accounts shall be booked under this project code after assessing
their contribution through a methodology to be arrived at.

11.On the best interests of Chennai Care and the Investor both the Parties are
agreeing to ensure smooth fund flow to this project. To start with both the
Parties agree to deposit in Rs.20 lacs in total and which may be enhanced
need based then & there.

12.The profit/loss sharing shall be done on mutually agreed terms and conditions
at the end of the project.

13.Separate account on the name of Chennai Care will be opened for the project
& will be operated by both Managing Director & the Investor as Signatories. It
is proposed to use/ amend the ICICI account of Chennai Care for this purpose.
For practical purposes this account does not have any relevance/ liabilities to
other accounts operated by the company.
 14.To understand the costs in a better fashion sub division of cost codes will be
implemented

15.Any funds from this account will be drawn or utilized only for the project
under consideration. Payments realized from this project also to be
deposited in this account.

16.An accounts personnel will be named to deal these accounts and for
interactions

17.If both the parties agree due to some reason or other which necessitate
additional investment compared to other, period of additional funding will
bear an interest rate of 16% and will be booked as expenditure periodically.

18.Since this is a trial model implementation will be aimed with open

Management, Fair approach in every aspect by all concerned.

19.The whole aim of such understanding is to enhance Chennai Care operating

profits and sales.

20.Any necessary assistance from others concerned will be taken (GMD, GM)
where ever necessary.

21. Capital Good:

Capital Goods purchased in this project will be utilized for future projects or
taken over by Chennai Care with depreciation deducted.

Any equipment of Chennai Care is used for this project, a nominal rental
value shall be arrived at and booked on the project expenses.

22.Proportionate salary of COO/ Chennai Care team is to be booked on this

project and will be based on the contribution levels.

23.Both the parties agree to discuss and sort out any issues that required clarity
pertaining to this agreement.

For CHENNAI CARE SERVICES PRIVATE LIMITED

Sheikh M Sherifuddeen

Witness:
1.

2.