OFFER OF EMPLOYMENT
Regd. Office:
Xxxxx Fargo Centre, Building 1A, Divyasree NSL SEZ, Survey No. 66/1 Raidurga Village, Serilingampalli, Hyderabad, India - 500032
Tes: x00 00 0000 0000
Fax: x00 00 0000 0000
CIN: U72200TG2006PTC051001
xxxxxxxxxx.xxx
Xxxxx Fargo International Solutions Private Limited (formerly known as Xxxxx Fargo EGS (India) Private Limited)
Embassy Tech Village Deverabeesanahalli, Outer Ring Road Varthur Hobli, Bengaluru, India 560103
xxxxxxxxxx.xxx
July 6, 2021
Dhaatri XxxxxxxXxxxxxxx
Flat 411, Manjeera Majestic Homes
Near JNTU, KPHB Phase1, kukatpally, Hyderabad Hyderabad, Telangana
OFFER OF EMPLOYMENT
Dear Xxxxxxx,
We are pleased to offer you a position at Xxxxx Fargo International Solutions Private Limited (formerly known as Xxxxx Fargo EGS (India) Private Limited) ("Xxxxx Fargo" or "Company"), and your employment shall be effective from the Date of Joining as mentioned below, on the following terms and conditions:
• Designation: You will be designated as Operations Accountant 2. Notwithstanding anything herein, this offer is conditional on Xxxxx Fargo receiving a satisfactory reference and background check on you, as well as not having an outside activity that is in conflict with Xxxxx Fargo's interests. On your first day of employment August 16, 2021 (DOJ) you will need to report before 7:30 a.m. at Xxxxx Fargo International Solutions Private Limited (formerly known as Xxxxx Fargo EGS (India) Private Limited),Xxxxx Fargo Centre, Embassy Tech Village, Devarabeesanahalli, Outer Ring Road, Varthur Hobli, Bengaluru, India 560103.
• Compensation: Your total annual fixed compensation (inclusive of contributions to be made towards various social security schemes such as Xxxxx Fargo's contribution to Provident Fund), would be INR 400000/-(Rupees Four Lakh Only). Please note that tax will be deducted at source from your gross compensation above in compliance with prevailing tax regulations. In addition, you will be covered by Wells Fargo’s Variable Performance Pay plan, with an annual target of INR 20000/-(Rupees Twenty Thousand Only). The detailed break-up of the compensation offered to you is outlined in Annexure ‘A’ to this letter.
• Place of Work: You will be initially based at the Xxxxx Fargo office in Bengaluru. However, Xxxxx Fargo reserves the right to transfer you from one office to another, at its discretion during the term of your service. You may be required to work from different offices and in different shifts from time to time. Xxxxx Fargo further reserves the right to change your shift timings, job title, designation, corporate title, reporting lines and reporting manager, in line with applicable laws, during the term of your service.
• Duties: You will perform all acts, duties and obligations and comply with such instructions as may be specified by Xxxxx Fargo and which are reasonably consistent with your job title and profile. Xxxxx Fargo may require you to undertake the duties of another position, either in addition to or instead of the above duties, it being understood that you will not be required to perform duties, which are not reasonably within your capabilities. Xxxxx Fargo may also require you (as part of your duties of employment) to perform duties or services not only for Xxxxx Fargo but also for any Group Company where such duties or services are of a similar status to or consistent with your position with Xxxxx Fargo. For the purposes of this agreement, “Group Company” means any subsidiary or holding company of the Company, any subsidiary of such holding company, and any company in which the Company or any such holding company holds or controls directly or indirectly not less than 20% of the issued share capital.
• Confidentiality: As an employee of Wells Fargo, you will have access to Xxxxx Fargo’s Confidential Information. The Confidential Information remains the sole property of Xxxxx Fargo or any Group Company.
You must not, either during (except in the proper course of the your duties) or after the termination of your employment, without the prior written consent of the Company, directly or indirectly, divulge, use or otherwise disclose to any person whatsoever, the Confidential Information, either for your own or for another's benefit. You must use your best endeavors to protect the Confidential Information and prevent unauthorized disclosure or misuse of the Confidential Information. You must immediately notify the Company should you suspect unauthorized disclosure or misuse of the Confidential Information and, where required, assist the Company in any proceedings taken by the Company for alleged unauthorized disclosure and/or misuse of the Confidential Information. You must enter into any other confidentiality agreement or provide confidentiality undertakings as required by the Company from time to time to protect its business interests and those of its customers and any Group Company. For the purpose of this clause, “Confidential Information” means any trade secrets or confidential information relating to or belonging to the Company or any Group Company, in any form or format, including but not limited to: (i) business strategy, plans and dealings; (ii) product lines, services, price and cost information, marketing plans; (iii) staff salaries and terms and conditions, personnel history; (iv) secrets, dealings, transactions, lists or affairs of any clients of the Company or any Group Company; (v) business accounts, finances, profit margins and financial records;
(vi) business forms and operating procedures, policies and practices; (vii) technical data and software; (viii) intellectual property and inventions; (ix) any information in respect of which the Company or any Group Company is bound by an obligation of confidentiality to a third party; and (x) any information classified as private, internal use, confidential or restricted (or similar) under Xxxxx Fargo’s Information Classification Matrix (or any such document or policy from time to time in place); but does not include: (i) information that is within the public domain; (ii) information required to be disclosed by law; (iii) information which the Company has consented to being disclosed; and (iv) information required to be disclosed as a necessary part of the your duties. You are directed not to bring any confidential or proprietary material of any former employer. Also, you represent that you are not subject to any restrictions that prevent you from working for Xxxxx Fargo.
• Intellectual Property: For the purpose of this section, “Work” means any invention, discovery, design, improvement, formula, process, technique, literary or artistic work, or any other item in which Intellectual Property Rights subsist or are capable of subsisting and is wholly or partly created, made or discovered by you either: (i) in the course of your employment with the Company; or (ii) otherwise using the facilities, resources, time or any other opportunity provided by the Company. “Intellectual Property Rights” means all existing and future rights which are capable of protection by copyright, patent, design, trademark or other registration or other forms of protection available in India or elsewhere. The Work and all Intellectual Property Rights in the Work will belong absolutely to the Company, and you agree to do all things necessary and execute any document required to give effect to this ownership. You shall communicate to the Company any Work created, made or discovered during your employment with the Company. You hereby consent to the use of all existing and future Works made by you in the course of your employment, and agree to waive any moral rights you may have in them, and consent to any act which amounts to an infringement of any such moral right, in favour of the Company. You also agree that this consent and waiver extends to any licensees and successors in title to the Company in respect of such works, as well as to any persons who are authorised by the Company or by its licensees and successors in title to do acts compromising the copyright of such works. You agree to execute any further document necessary to give effect to this. For the purpose of this clause, the expression "moral rights" includes the right to be identified as the author of the work, the right not to have any other person identified as the author of the work and the right not to have the work subjected to any derogatory treatment.
• Non-Solicitation: You acknowledge that during your employment with the Company, you: (i) have or will become possessed of Confidential Information regarding the business of the Company and Group Companies, and their respective employees and officers; and/or (ii) have developed or will develop influence over employees and officers of the Company and Group Companies; and/or (iii) have developed or will develop commercially valuable relationships with the suppliers and stakeholders of the Company and Group Companies. You shall not during the Restricted Period (as defined below), directly or indirectly on your account or on behalf of or in association with any other Person induce, solicit, entice or procure, or seek to induce, solicit, entice or procure any Protected Employee (as defined below) to leave the employment of the Company or Group Company. You also agree that you shall not during the Restricted Period, directly or indirectly on your account or on behalf of or in association with any other Person, directly or indirectly in relation to any contract or arrangement which the Company has with any supplier for the exclusive supply of goods or services to the Company and/or to Group Company for the duration of such contract or arrangement, interfere with the supply of goods or services to the Company from any supplier and/or induce any supplier of goods or services to the Company to cease or decline supply such goods or services in the future. Your obligations under this clause will continue notwithstanding the termination of your employment with the Company. You agree that the post-employment restrictions set out above are
reasonable and necessary for the protection of the business of the Company and the Group Companies. The restrictions in this section shall only apply with respect to Group Companies to which you have provided services, supervision or management within the last 12 months prior to the end of your employment with the Company. With respect to the Group Companies to which the restrictions apply, the Company contracts as trustee and agent for the benefit of each such Group Company, and you will promptly execute any agreement to give effect to this arrangement at the Company’s request.
For purposes of this section, the following definitions shall apply: “Person” includes any person, company, partnership, business entity or other organization. “Protected Employee” means an employee of the Company or Group Company: (i) with whom you had material contact or dealings with in the course of your performance of the duties in the twelve (12) months immediately preceding the final day of your employment with the Company; or (ii) who, as of your final day of employment, is in your line of business and has a corporate title of Vice President or above; or (iii) who, as of your final day of employment, belongs to the same team as you (i.e. both report to the same manager). “Restricted Period” means the period of 12 months from the final day of your employment. “Prohibited Area” means India.
• Exclusivity of Service: You represent and warrant that you are not subject to any agreement, arrangement, contract, understanding, court order or otherwise, which in any way directly or indirectly restricts or prohibits you from fully performing any of the duties of your employment, in accordance with the terms and conditions of this letter. You are required to devote your full time, attention and abilities to your job duties during working hours, and to act in the best interests of Xxxxx Fargo and/or its Group Companies at all times during the course of your employment with Xxxxx Fargo. You must not carry on, during the term of your employment, without the prior express permission of Xxxxx Fargo or any person so authorized by Wells Fargo obtained in writing, any lecturing assignments or any business either alone or in partnership, nor be directly or indirectly employed or concerned with as principal, agent or otherwise in any business, trade or profession whatsoever.
• Required Absence: Certain positions in the Company are covered by Required Absence from Sensitive Positions Policy (RA Policy). You will be separately informed if the Position is covered or will be covered by RA Policy. If your Position is covered by RA Policy, you will be required to be away from the role for a minimum period of two consecutive (2) weeks or ten (10) consecutive working days per year on a qualifying period of absence, during which time you will not be permitted to perform sensitive task work associated with the Position, including, but not limited to, accessing Xxxxx Fargo systems or devices, remotely or otherwise, in relation to such sensitive task work. Other mandatory time away requirements may apply even if the Position is not covered by RA Policy, as set out in the Handbook. Working with HR and your manager, you may use a combination of the following absences or assignments (only if such absences or assignments are applicable to your Position) to comply with the RA Policy:
o Paid Time Off (scheduled or unscheduled)
o Compensatory Time Off
o Leave of absence
o Other Paid Time Away
o Off-site training or professional conferences
o On-site training, temporary job reassignments or temporary assignments specifically designated and approved by line-of-business senior management and the group risk officer
o Unpaid time off, as appropriate
• Provisional Certificate: This offer of employment is subject to successful submission of your provisional certificate /final year mark sheet without any arrears on or before - 15 February 2022. In the event you fail to submit the provisional certificate/mark sheet substantiating the fact that you hold the required qualification, Xxxxx Fargo, at its discretion, shall revoke this offer of employment in its entirety.
• Separation with No Cause: Either party may give notice of separation of employment at any time, subject to two (2) months' notice in writing. Xxxxx Fargo, at its sole discretion has a right to waive the notice period on payment of a sum of money equal to two (2) month's salary in lieu thereof. Following any termination of the period of Employment, you shall fully cooperate with Xxxxx Fargo in all matters relating to the winding up of pending work on behalf of Xxxxx Fargo and the orderly transfer of work to other employees of Xxxxx Fargo. You agree that all property, including, without limitation, all equipment, tangible proprietary information documents, books, records, reports, notes, contracts, lists, computer disks (and other computer-generated files and data) and copies thereof, created on any medium and furnished to, obtained by, or prepared by you in the course of or incident to your Employment, belongs to Xxxxx Fargo and
shall be returned promptly to Xxxxx Fargo in good, intact condition on or before the final day of Employment, or earlier, if instructed by Xxxxx Fargo.
• Separation for Cause: Xxxxx Fargo reserves the right to terminate your employment without prior notice or payment in lieu of notice in the following circumstances: (a) if you are guilty of dishonesty or other gross misconduct, or gross incompetence or wilful neglect of duty, or if you commit any other serious breach of any of the provisions of this letter; (b) if you neglect or fail (otherwise than by reason of accident or ill health), or refuse to carry out the lawful instructions of the Company, within the scope of your duties; (c) if you are guilty of a criminal offence; (d) if you commit any unlawful act of discrimination or harassment; (e) if you report to work under the influence of alcohol, narcotics or unlawful controlled substances; (f) if you breach the rules of any regulatory authority or any Company policies (such as the Code of Conduct); (g) if you engage in any civil wrong or conduct of a criminal nature (including but not limited to assault, theft and fraud) or any other conduct which in the reasonable opinion of the Company may seriously impact on your ability to perform the duties or is likely to significantly damage the reputation or business of the Company;
(h) if there are grounds to terminate summarily under the handbook, policies applicable to the Company or under applicable law.
• Code of Conduct: Your appointment at Xxxxx Fargo would require you to be bound by the prevailing code of conduct, rules, regulations, policies, procedures and guidelines of the Xxxxx Fargo. Xxxxx Fargo reserves the right to modify, replace or eliminate any of its policies, procedures and guidelines, at any time without notice.
• Xxxxx Fargo’s Employee Handbook: The provisions of the Xxxxx Fargo International Solutions Private Limited (formerly known as Xxxxx Fargo EGS (India) Private Limited) Team Member (employee) handbook (as amended from time to time) shall govern your employment except so far as they are inconsistent with the terms of this letter. You will be provided access to Xxxxx Fargo’s Team Member handbook via the Xxxxx Fargo intranet once you have joined Xxxxx Fargo. Your appointment with Wells Fargo would require you to be bound by all rules, regulations, policies and guidelines issued by Wells Fargo from time to time, in relation to personal and professional conduct, and discipline. You are also required to sign the “Code of Ethics and Business Conduct.” Your acceptability of these agreements and compliance to rules, regulations and policies shall also be deemed to be a part of employment terms at Xxxxx Fargo.
• Miscellaneous: As a new hire, you are required to submit to a comprehensive background screening to the extent permitted by applicable laws. In instances wherein background check is not completed by joining date, the Company may allow you to start your employment but it reserves its right to continue with the background check and take action, including employment termination, accordingly. Your start of employment prior to completion of your background checks shall not be considered as a waiver or an exception of completion of your background checks. Xxxxx Fargo assumes that the information provided by you in all aspects related to your background check or otherwise is accurate and comprehensive. In the event, the information provided by you is found to be false or fraudulent, Xxxxx Fargo shall have right including but not limited to revoke this offer letter or terminate your employment with Xxxxx Fargo, as the case may be. In case any provisions or part thereof in this letter is held to be invalid or unenforceable by any court of competent jurisdiction, it will not affect the validity or enforceability of the remaining provisions or parts thereof. The information contained in this letter of appointment is ‘Personal & Confidential’. This letter contains sensitive, personal and confidential information and its contents are not to be shared with or divulged to other Xxxxx Fargo employees excepting your supervisor(s) or the Human Resources Department.
For Xxxxx Fargo International Solutions Private Limited (formerly known as Xxxxx Fargo EGS (India) Private Limited)
Xxxxxxxxxxxxx Xxxxxxxx Xxxxxx
Authorized Signatory Agreed to and accepted by:
Dhaatri XxxxxxxXxxxxxxx
Printed Name and Signature/Date
Xxxxx Fargo International Solutions Private Limited (formerly known as Xxxxx Fargo EGS
(India) Private Limited)
Xxxxx Fargo Centre Embassy Tech Village Deverabeesanahalli, Outer Ring Road Varthur Hobli, Bengaluru, India 560103
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Annexure 'A'
Compensation and Benefits Summary
July 6, 2021
Team Member Name: Xxxxxxx XxxxxxxXxxxxxxx
Designation: Operations Accountant 2
Grade Code: OAC2
Your total annual compensation package is as follows:
Salary Head | Monthly INR |
Basic @ 50% of Total Annual Fixed Compensation | 16667 |
Provident Fund (Employer Contribution, 12% of Gross Basic) | 2000 |
Gratuity (4.81% of Gross Basic) | 802 |
Flexible Allowance | 13865 |
Total Monthly Gross | 33333 |
Annual INR | |
Total Annual Fixed Compensation | 400000 |
Variable Performance Pay * | 20000 |
Total Cost to Company | 420000 |
Insurance Benefits and other benefits shall be provided to team members, as per the existing Company policy and may be amended from time to time. Any statutory benefits (including, but not limited to maternity leaves where applicable) that may be provided under the applicable laws will also be available to eligible team members.
Notwithstanding anything herein, Xxxxx Fargo may at its sole discretion amend or repeal discretionary benefits without giving any notice to team members. It is hereby declared that benefits provided to team members (except Total fixed Compensation) are not the consideration of the employment. Currently, Insurance Benefits are as under:
• Group Medical Insurance = INR 5,00,000 for all Team Members (Coverage for Team member, Spouse, Children and Parents). Parental Medical insurance limit would be INR 200,000. This is a sub-limit of the overall annual benefit limit and will cover either one or both parents.
• Personal Accident Cover = 3 times total annual fixed compensation
• Term life cover = 3 times total annual fixed compensation
• Please note that the above mentioned sum towards the Variable Performance Pay (“VPP”) is not an entitlement but a discretionary pay out and therefore, an indicative number, which will vary from year to year based on your performance and the performance of the Company and parent company. This variation
will also impact the Total Cost To Company and the figure will change accordingly. You may further note that payout of VPP shall be on pro-rata basis for partial year worked.
• The Variable Performance Pay (VPP) mentioned in the offer is only an indicative number. The actual VPP pay-out is subject to change basis several factors, and shall be decided by Xxxxx Fargo at its discretion. In order to be eligible for VPP payout, you should be employed for more than 3 (three) months of the performance period. Team members that are no longer on company payroll or are serving notice period as on the VPP payout date will not be eligible for the VPP payout.
Xxxxx Fargo International Solutions Private Limited (formerly known as Xxxxx Fargo EGS
(India) Private Limited)
Xxxxx Fargo Centre Embassy Tech Village Deverabeesanahalli, Outer Ring Road Varthur Hobli, Bengaluru, India 560103
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Annexure 'B
List of Documents to be submitted prior to joining Xxxxx Fargo
S No. | Description |
1 | Education provisional certificate and xxxx xxxxxx of the highest qualified degree / professional qualification. |
2 | Experience Certificate and Relieving Letter (and/or Acceptance of resignation letter) of last two employers. |
3 | Copy of passport (first and last pages) |
4 | Two (2) passport size photographs |
5 | A self-attested copy of the PAN (Permanent Account Number) card. |
July 6, 2021
Xxxxx Fargo International Solutions Private Limited (formerly known as Xxxxx Fargo EGS (India) Private
Limited)
Human Resources
Team Member Name: Xxxxxxx XxxxxxxXxxxxxxx
Location: Hyderabad, Telangana Dear Xxxxxxx,
As per Xxxxx Fargo International Solutions Private Limited (formerly known as Xxxxx Fargo EGS (India) Private Limited) (“Xxxxx Fargo” or "Company") relocation policy, you will be provided limited reimbursement of expenses related to travel and transportation of personal belongings from your current city of work to the Xxxxx Fargo joining location.
The Xxxxx Fargo relocation policy covers:
• Reimbursement of the expenses incurred towards one-way economy class airfare for employee, spouse (or) domestic partner and children from current location to Xxxxx Fargo office location - if not previously paid by the business.
• Upon acceptance of offer and post confirming the date of joining, the company will provide you with an opportunity to visit the Xxxxx Fargo office location for a pre-joining visit including 2 nights and 3 days of stay at the company guest house for employee and one family member.
• If you are unable to make immediate arrangements for stay in the new location at the time of your joining, the company will provide you accommodation at the company guest house for a maximum of 3 weeks from the day of reaching the joining location.
• Reimbursement of expenses incurred towards shipment of household goods & one vehicle up to a maximum of INR 100,000 or the actual cost incurred, whichever is lower.
• Reimbursement of expenses incurred towards road tax & registration of one vehicle at Xxxxx Fargo office location up to a maximum of INR 50,000 or the actual cost incurred, whichever is lower.
• During the stay in the guest house, pick-up/drop will be provided for employee to commute to/from the guest house to office.
• The company will provide 2 days of relocation leave to be availed within 60 days from date of joining.
• Provision of house deposit advance for up to 6 months of rent paid or INR 2,00,000, whichever is lower. If availed, the advance amount will be recovered from your salary in 12 equal monthly installments.
• Reimbursement of onetime expense incurred towards house search for 1 month of rent paid or INR 50,000, whichever is lower.
• Reimbursement of expense incurred towards one time non-refundable school deposit paid or INR 50,000 per child, whichever is lower.
• As per the company policy, you are required to submit all relocation assistance expense bills for reimbursement. You have to claim the relocation expenses through E-Pay within 3 months from date of joining.
• Notwithstanding anything to the contrary herein, you agree to repay the amount reimbursed to you as part of relocation assistance if within 12 months of the date of joining (a) your employment is voluntarily terminated by you for any reason; or (b) your employment is involuntarily terminated by the Company for Cause in accordance with the terms of your employment agreement or other applicable policies and procedures. You agree that the amount of relocation expense to be returned (as mentioned above) may be by way of deduction from amounts the Company is to pay you, subject to applicable law. If no such deductions are made, or if the deductions made are insufficient to repay the entire amount, you shall be obliged to pay the Company all outstanding amounts. The Company shall be entitled to take all reasonable steps to recover any amounts that you fail to repay.
As per the Xxxxx Fargo policy, you are required to keep all compensation related information confidential.
For Xxxxx Fargo International Solutions Private Limited (formerly known as Xxxxx Fargo EGS (India) Private Limited)
Xxxxxxxxxxxxx Xxxxxxxx Xxxxxx
Authorized Signatory