Escom (HK) Limited

14F, Hollywood Plaza

610 Nathan Road,
Mongkok KL, Hong Kong

(Senior) Business Partner Agreement

Partner: ID Number or Passport Number：

Date of Embark:

1, General
1.1 Overall
This agreement is signed between________________(hereinafter referred as “Partner”) and Escom Co.,
Limited (hereinafter referred as “Mavplus” or “the company”), a company registered in Hong Kong SAR
China in 2014, registered business address: 1319, Hollywood Plaza, 610 Nathan Road, Mongkok KL, Hong
Kong SAR. registration number: 2185574; Tax Code (Hong Kong): 64235542.
The subject of this Partnership Agreement is to define the organisation of the partnership by regulating the
rights and obligations of Mavplus and the partner in order to successfully implement the Cooperation on
Executive Search businesses.

1.2 Description of the Goal

Mavplus and its partner work jointly to ensure the success of the executive search business operations and
team growth. Mavplus strive to provide full support in Team recruitment, training & retraining, team
engagement and management, IT system Support, financial and legal related matters, New clients generation,
Business Development (to other countries or Region, such as Singapore, Indonesia, Hong Kong, China,
Japan, Middle East, India). Partner is the direct leader, co-owner of is team. Partner plays an integral role in
contributing to the successful execution of executive search services for our clients and building the team’s
reputation for quality. Partner is also the primary responsible person of each team member’s (staff) personal
career advancement.

1.3 Obligations of Each party (* is for both two parties)

Mavplus:
A: Pre-opening Set up of the business
B: Recruiting of the team *
C: Training/Team Building/Team Engagement *
D: IT Systems/ KPI Management/ Staff Engagement / Team Management Structure
E: Legal/ Financial/ Tax Related Affairs with Staff/Clients and business partners
F: Business Development/New Clients Acquisition*
G: International business Development and International Team Growth
H: Tax avoidance for its partners and staff
I: Financial Risk Control (In an event that the business fails, the debt(s) occurred by the team or any
other financial obligation the team generates, Mavplus to bear all risk(s)/debt(s)/cost(s))
Partner:
A: Recruiting of the team *
B: Training/Team Building/Team Engagement *
C: Business Development/New Clients Acquisition* Client relationship maintenance and
development
D: Daily Review of the Staff’s Work
E: Team Internal Training
F: Staff’s Individual Career Growth
G: Client Services
H: Full cycle management of the Executive search processes

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Signature (Partner)： Signature or (Mavplus)
Date: Date：
(Stamp)
 Escom (HK) Limited
14F, Hollywood Plaza
610 Nathan Road,
Mongkok KL, Hong Kong

1.4 Qualification of the Partner

Partner certify that he/she meets the following qualifications and will provide the necessary proof(s) or
deviance(s) in case of need:
A. Five years experiences in executive search sector
B. Team management experiences: managed 5+ team members and able to undertake the full cycle
of the executive search tasks
C. The Partner has officially ended contract or other work commitment with any other executive
search firms/ headhunting firms/ HR services firms or entities or other kinds in the same or
similar scope of business
D. The Partner agrees this Partnership role as his/her Exclusive executive search business. Partner
is not directly or indirectly involved in any other executive search business of any kind.

2, The Definition Revenue, Cost and Team Profit

(1) Team Profit=Team Revenue*(100%-16.5%)-Team Labor Cost
(2) Team Labor Cost Include:
A: Basic Salary
B: All Commission and Bonus (including the 13th month pay)
C: Internet Connection and Phone Bills Reimbursement
D: Training Courses Per Head Cost
E: Team entertainment activities, team trip and team building
Team Labor Cost DOES NOT include:
A: IT Systems and Logistic Support (Email Account, Software Account etc,.)
B: Company-wide team building or annual party
C: Laptop Cost (Laptop is provided for staff who worked for Mavplus for 6 months, in case of
need)
D: All other unspecified Cost
(3) Team Revenue = the gross check-in (the paid service fee from clients).
(4) Team Basic Operations Cost: The Team Revenue will be, and only be, deducted the basic Operations
Cost (16.5% of the received amount), to cover all costs related to international transaction losses, tax
cost, bank charges, business auditing and registration related cost and all others.

3, Share Mechanism and Payment Terms

3.1 Share Structure
The Partner is the co-owner and shareholder of its team. The partner collects the team profit according to the
following rate:
Team Total Yearly Profit (in Partner’s
Example
Peso) Share Rate

Less than 2200000 60% Glen Florence joined as business partner in August 15th 2019, he leads a team
of 10 people. His Team Achieved the total profit of 9900000 (peso) for one
2200000=<Profit<4400000 70% calendar year (August 15 2019- August 14 2020) and Glen’s total share
should be:
44000000=<Profit<6600000 75%
2200000*0.6+(4400000-2200000)*0.7+(6600000-4400000)*0.75+(9900000-
Revenue>=6600000 80% 6600000)*0.8=7150000

3.2 the release of the share

A. Each team should reserve the sum basic salary of all team staffs for the next calendar
month(one month only) as the team-sustainability-fund, and the remaining profits will be
distributed to partner.
B. The team profit share is the ONLY source of income for partners. Partners will not be offered
any basic salary, project bonus, yearly bonus. In an unlikely event that the team makes no
profit or the profit is a negative figure, the partner does not collect share.
C. Partner collects the profit on a monthly basis. The team profit will be computed on every last
working day of the month.
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Signature (Partner)： Signature or (Mavplus)
Date: Date：
(Stamp)
 Escom (HK) Limited
14F, Hollywood Plaza
610 Nathan Road,
Mongkok KL, Hong Kong

D. for the ease of the monthly calculation, Partner Collects the monthly Profit share on a fixed
rate of 72% (the actual year-end rate could varies from 60%-80% as stated in term 3.1). A
detailed profit and share report will be generated by the end of one calendar year and the due
balance with be released annually.
E. Here is an example of how to compute the monthly share for partner: Glen Florence, business
partner, started his team on August 15th 2019. The team basic info and profit figures as
following
Monthly
Timepoint (the
Nett Labor Team Glen's Glen's Glen's
last working Number Monthly
Revenue Cost Profit Share Monthly Accumulated
day of each of Staff Revenue
(=revenue monthly (Monthly) Rate Share Share
month)
*83.5%)
Aug 30th 2019 4 0 0 200000 -200000 72% -144000 0
Sept 30th 2019 7 1000000 835000 400000 435000 72% 313200 169200
Oct 31st 2019 8 1175000 981125 470000 511125 72% 368010 537210
Nov 29th 2019 8 1245000 1039575 498000 541575 72% 389934 927144
Dec 31st 2019 9 1495000 1248325 598000 650325 72% 468234 1395378
Jan 31st 2020 14 2425000 2024875 970000 1054875 72% 759510 2154888
*Clarification:
1) Monthly Nett Revenue= Monthly Revenue(check-in)*83.5%
2) Labour Cost: Including basic Salary+Commission+Internet and Phone Cost Reimbursement +
Training and Team building Cost(if any)
3) Team profit =Nett Revenue- LaborCost
4) In an event that the Team profit is a negative number, the Partner will not be released any
profit until the profit figure makes to a positive number. However the Partner will also not
bear any loss/debt.

3.3 Payment
A. Payment of the partner’s revenue shall be made on monthly basis by Online Bank Transfer.
B. Payment shall be made by Bank Transfer. Partner is aware that Mavplus is a Hong Kong
company and the services fee paid by Clients shall be settled in USD, regardless of the
location or root country of the clients. Mavplus will make payment to its partner in USD
dollar. In case the partner’s bank account does not support USD, but only Philippines Peso,
then the due amount shall be converted to PESO according to the exchange rate stated on this
link (on the day of the transfer):
https://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=PHP

4, Partner’s Rights and Obligations

4.1 Partners are entitled the following privileges and rights
A. Project Overall management and Controlling
B. Recruiting and management of its team/staff(s) (Including hiring and firing staff(s), the
salary/paycheck package/ career growth plan and target for its staff(s), staff(s) bonus standards
settings, team structures, team training, team building etc.,)
C. Business Development and Client Development, Client Relationship Management (On behalf
of the Mavplus brand to develop new clients, manage existing clients’ relationship etc.,)
D. Explore executive search business development opportunities in other vertical markets
E. Explore executive search business development opportunities in other countries/regions
F. Financial Management and Vendor Management (Including purchasing work related
equipment/facilities or services from vendors/ making payment to vendors).
G. To develop junior partners (Partners can develop its top performing staff as junior partner and
collect a certain rate (*to be discussed) of the partner’s share).
H. Financial reward: Partner’s share (as agreed in the above terms) shall be released on a monthly
basis and yearly basis.
I. Business risk immunity: In an unlikely event that the partner’s team fail to achieve position
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Signature (Partner)： Signature or (Mavplus)
Date: Date：
(Stamp)
 Escom (HK) Limited
14F, Hollywood Plaza
610 Nathan Road,
Mongkok KL, Hong Kong

figure profit and partner chose to terminate this contract, the debt (if any) will be solely bore by
Mavplus. Mavplus ensure the full payment to its staff and suppliers shall be cleared on time.
J. Access to Mavplus’ Work-related Facilities and logistic support. (Including the IT systems/
Business cards/ Email account/ CRM Systems/ Training/ Laptop/Team engagement and team
building support)

4.2 Partners Duties, obligations and responsibilities

A. Exclusivity and prohibition of business strife: While the partner maintain its partnership status
with Mavplus, Partners must not serve any other executive search firms or individuals or
secretly run any of its own similar headhunting/executive search/ human resource businesses.
In an event this term is violated the partner does not entitled to earn its share. However upon
the official ending/closure of the partnership, the prohibition of business strife terms expire.
B. Full time Full resource dedication to this role: Partner agrees this is a full time job, although
partner has flexibility in managing its own working hours, partner is aware that he/she is the
direct team manager/director of its team and all the team members work on a 9AM-6PM per
work day daily shift hence whenever the condition permits, partner are obliged to be on work
during 9AM-6PM.
C. Team Management: Partner is obliged to impose strong team management and team
engagement efforts, including but not limit to (1) Check the staff’s KPI on a daily basis and
ensure all staff meet the basic KPI standards, otherwise partner shall be offering further
coaching/training or alternatively terminate the employment contract with the underperformed
staff(s).(2) Partner aware the importance of regular trainings and actively initiate or participate
in the team training and skills development courses.
D. Service Quality Assurance: Partner is the direct responsible person for delivering high quality
services to clients.
E. Business Risk Control: Partner, as the CoOwner of the team, is fully aware the importance of
the risk management and is deploying all possible measures to manage the risks, including but
not limit to: managing the staff retention risks, managing the staff health/safety risks, managing
the client under-serviced risks, managing the client service fee payment failure risks.
F. Tax avoidance: Mavplus strive to pay Partner’s share directly to its personal accounts and try
all possible measures to avoid tax for its partners and staffs in the Philippines, and partner agrees
that his/her full cooperation may be needed to comply with regulations/terms from the local tax
authority. Partner understands that if due to very strict tax regulations/laws that makes Mavplus,
with all possible methods tried, to be unable to avoid the income tax for its partner, partner is
to bear its own personal income tax.
G. Intellectual property: Partner agrees that the intellectual property of the Mavplus brands or other
business assets is owned by Mavplus.
H. Confidentiality: Partner agrees that, regardless of the status of partnership, all the
terms/conditions of this contract and all business operations related information/document is
confidential and it is strictly prohibited from disclosing to any 3 rd party or individual.

5, Contract Length, Renewal and Termination Terms

5.1 Contract Length and Renewal Terms
This contract is effective immediately with the signature of two parties. The Electronic copy of the contract
serve the same legal validity as of the original copy. The contract length is 2 (two) calendar years from the first
effective date.
The contract will be automatically renewed (without the re-sign of the paperwork) every 30 days before it
expires, unless either party terminate the contract or the contract encountered one or many of the following
conditions listed on term 6.2 of this file.

5.2 Termination of the Contract

A: One Party (either Partner or Mavplus) officially request to terminate the contract by paperwork (including
email), then it will be terminated after 60 days. During the 60 days if the party withdraw the termination request
and acquired the consent from the other party, then the termination request will be immediately closed and the
contract validity is unaffected.
B: Mavplus reserves the right to immediately terminate the contract (not biding the 60 days term as of the 6.2-
A of this file) if one or more of the following events arise: (1) Partner’s team total profit is in negative number
of 1400000.00peso. (2) Partner violated the terms specified in 4.2 of this file.
C: In an event that the contract is terminated, Mavplus must generate a team profit report (cutoff date, the last
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Signature (Partner)： Signature or (Mavplus)
Date: Date：
(Stamp)
 Escom (HK) Limited
14F, Hollywood Plaza
610 Nathan Road,
Mongkok KL, Hong Kong

day of the contract period) according the relevant terms of this contract to the date, and as long as the team
profit figure is positive, Mavplus must release the full share to its partner within 15 working days.
D: In an event that the Partner made an request to terminate the contract, the Partner is still obliged to commit
fully in all work related duties before the contract terminate date, and to ensure all clients are properly served
or transferred to other colleagues.

6, Principles of Handling Disputes/Disagreements

In case of disagreement/dispute occurs, the following principles shall be applied:
A. All business partners and the management board of Mavplus shall host partners meeting not
less than 3months a time to discuss business related issues and set common practice standards,
code of conducts and services standards that applicable for all team. Both two parties agree that
all teams shall promote a unified team management mode, a unified corporate identify and
culture and a unified client services standards.
B. Partner is the primary responsible person for its team growth hence Partner is been granted with
a highly level of flexibility and decision power when comes to its own team management: In
terms of any disagreement occurs for the team growth, Mavplus respect the role of its partner
and as long as the partner’s decision does not violate the company’s basic business rules the
partner’s decision or preference should be supported.
C. Performance as Priority: In an event the partner and Mavplus dispute over the work resources
allocation (including but not limit to human resources and financial resources), all must respect
that the revenue(performance) shall be the top priority and the resources shall be primarily used
to drive revenue performance.
D. In case of any other disputes arise, both two parties agree to handle it in accordance with the
principle of amity, sincerity, mutual benefit.

7, Others
A. Any waiver, modification or amendment of any provision of this Agreement will be effective
only if in writing and signed by duly authorized representatives of both parties.
B. This Agreement is governed by and construed in accordance with the laws of Hong Kong SAR.
The Parties submit to the non-exclusive jurisdiction of the courts of Hong Kong, SAR. Any
dispute, controversy or claim arising out of or relating to this agreement, breach or termination
thereof, shall be settled by arbitration in Hong Kong under the Hong Kong International
Arbitration Centre Administered Arbitration Rules in force when the Notice of Arbitration is
submitted in accordance with these Rules.

Signature of both parties

Partner print Name: Mavplus Director’s Name: Mike Lee

Signature: Signature:
Date of Signing: Date of Signing:
Stamp:

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Signature (Partner)： Signature or (Mavplus)
Date: Date：
(Stamp)