BUSINESS DEVELOPMENT AGREEMENT

(Sec-1)

This Agreement is made and entered at Hyderabad, Telangana on the 22-11-2018.

BETWEEN

PENCAP TECHNOLOGIES PVT LTD. A Web-Design, Software Development & Digital Marketing
Company incorporated under the Companies Act 1956, having its
registered office at 2-629/K, 2nd floor, Shivalik plaza, Road No.1 Banjara Hills, Hyderabad.
Telangana-500034. referred to as the“COMPANY” the party of the FIRST part;

AND

GROWTECH SERVICES, a partnership firm incorporated under partnership act ,India, having its
principal place of business at D.NO. 7-33/9 & 9/A, 2nd floor, Near Petrol Pump, Srinivas Colony,
Mahabub Nagar. Referred to as the “COMPANY” the party of the SECOND part;

AND WHEREAS the COMPANY ‘ PENCAP TECHNOLOGIES PVT LTD. is going to open outlets in
various areas to control/manage the operations and sales to its customers located in that area
and to collect the payments from its customers in that area. And to operate/manage the above
said outlets the COMPANY is going to appoint BUSINESS PARTNERS all over the India. AND
WHEREAS PENCAP TECHNOLOGIES PVT LTD. has approached GROWTECH SERVICES for office
space and sales/operating/ managing the business of the Outlet
Situated at “Growtech Services, D.NO. 7-33/9 & 9/A, 2nd floor, Near Petrol Pump, Srinivas
Colony, Mahaboob Nagar, , and both the parties has accepted BUSINESS PARTNER AGREEMENT,
on the terms and conditions hereinafter mentioned. The Parties will act in accordance with good
faith and fair dealing. The provisions of this Agreement shall be interpreted in good faith.

TENURE
The duration of this Agreement shall be for a period of 5(five) years from the date of signing of
this Agreement (“Term”). Upon expiry of the term of this Agreement, the Parties may mutually
decide to renew the Agreement.

SCOPE
a. GROWTECH SERVICES shall generate business leads to PENCAP TECHNOLOGIES PVT LTD.
b. Any conversion of lead managed by GROWTECH SERVICES will sent to the PENCAP
TECHNOLOGIES PVT LTD. for project completion and delivery.
c. All the Cheque/Cash Payments should be in favor of Pencap Technologies Pvt Ltd.
d. GST (18%) applicable on all payments.
e. Successful project signup shall mean signing of Letter of Intent/MoU/Agreement and/or
receipt of token money by the Pencap Technologies Pvt Ltd.
f. All the payments under this are non refundable once work has been initiated.
g. Employee salaries will be paid by both parties dividing equal share.
h. Business revenue, Salaries, project cost, profits, applicable only on projects outsourced by
Growtech Services.

PROFIT SHARE
a. Design/development cost, domain cost, server & maintenance charges will be calculated as
project cost and remaining will be considered as profit.
b. Pencap Technologies Pvt Ltd. will share 50% profit with Growtech Services as channel
Partner Commission
c. Profit will be shared on monthly basis on first week of every month.
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d. Last date of every month will be business cut of date and profit will be shared based on
previous month revenue closure.
e. GST paid by customers will not be included in profit share.

RENTAL AGREEMENT:
a. Growtech Services should provide rental agreement for providing office space to Pencap
Technologies Pvt Ltd.
b. Rs. 10,000/- Rent payment will be divided equally between both parties.

TERMINATION
Termination for Convenience: PENCAP TECHNOLOGIES PVT LTD. can terminate this Agreement
for convenience by giving 30 days prior written notice as per terms and conditions on
Termination document. (Sec-2)

GENERAL TERMS
This Agreement constitutes the entire Agreement between the Parties and revokes and
supersedes all previous discussions/correspondence and arrangements/Agreements
between the Parties, if any, concerning the matters covered herein whether written, oral or
implied.
This Agreement shall not be changed or modified, except by amendment(s) in writing duly
agreed to and executed by the Parties hereto.
This Agreement shall benefit and bind the Parties and their respective successors and
permitted assigns.

PENCAP TECHNOLOGIES PVT LTD GROWTECH SERVICES

through its duly authorised signatory through its duly authorised signatory

Name: Shiva Kumar Name: Syed Shadjl

Address: 2-629K, 2nd Floor, Shivalik
Plaza, Road No.1, Banjara Hills,
Hyderabad – 500034. Telangana.
Email: Info@pencaptech.com
Contact Number: 9703311290
GROWTECH SERVICES ,D.NO. 7-33/9 &
9/A, 2nd floor, Near Petrol Pump, Srinivas
Colony, Mahabub Nagar 509001.
Email: shadjilsyed@growtech.info
Contact Number: 8374230735

…………………………………………………. .............................................................
(Authorized Signatory) (Authorized Signatory)

Date: Date:

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