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G ACUMENZ-, DREAM ̂ PLAN ̂ ACHIEVE

ACML/AD/2009-20 l 0/ l 800

Mr- Jigar Vyas.F la t No C-101 ,shanry Niketan Complex,opp. J.M.C. Nagar.Nf Raiya Circle,Raila Road, Itajkol - 360005

Deaf. l igaf,

With reference to the disclrssions you had with us, we are pleased to appoint your seryrces lorbLrsiness development at our company. You will currently be altached to our Rajkot branch andin order to effectively canJ out your functions. we designate you as Business DcvelapnentManager at o0r 'coirpany. Your sdrviaa-s wi l l be governed by lhehles & regulat iont: tnd pol ic ies

oflhe company, which are already framed or amended from tjme to tinre.

This letter of appointment shall take effeci from the date which you statt rendefiDg theservice as Business Development Manager In auy case if you do nol lake up theassignment withii 30 days of this lefter it will be presumed that you have declined ttreoffcr ard accordingly this letter of appoiDtmeDt will be treated as irfr ctttous and noti i ' u e d a t a l l .

Appoin|menl of your services as l lusiness Development M,rn:rger is nol onc oI nasterand servant and is pufely contractual iD nalure.

You shal l be responsible to pedbrn fhe fol lowing funct ions i

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. Dealirrg with clients ofthe company and or its associates.

. Marketing and Business development ofthe company and or its associate enlitiesin Raikot.Back office functions.Any other dLrtics ihat are or may be assigned by the company fi

ACUMEN CAPITAL MARKET {INDIA) LIMITEDS.l Reddiar & Sons Buiiding, Vedkshanam Road, Cochin - 682 035

Tel: 0484 3079100, Fax: 0484 2367030 E-mail: admin@acmlmail.com, Web: www.acumengroup.inMember: NSE, BSE, NSDL

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,1. This conlracl is valid for a pedod of six rnonths ltorn the daie ofcommencemcnt as stated abov€anl : l a l the end eyery month you wi l l be ent i l led to revenLre l inked compensal ion in the manner

l ' ' Month

2"' N4onrlr

Wishingl ,ou a good luck

i Its. I 7,000/' subject to your achieving a Det brckenge revenue ofRs. 17,000i-

: Rs. l?.000/- subject to your achieving net brokerage revenue ofRs 34,000/- any shortfall whereofwill entail prcportionate reductronofthe compensat ion ofRs.17, 000/- payable lo you.

r Rs 17,000/- subject o your achieving a nel brok€fage rc!enLIe 01'Rs. 5l.000l,any shorlfall whereofwill entail propo$ionate reduclionofthe compensat ion of l ls 17,000/ ' payable 1o you.

If drfing the contracr period youf pedbnnance, conduct and characler are found good and youachieve lhe rafgets as staled hercin, )ou lv i l l be takc. as an employee ofthe company withappropriate desigrnr ion amd wi l l bc duly conf inned as such in dre scNices ofthe coDrpany. Unlesscont jnrcd in wri t ing ei thef duf ing oL at the expiral ion ofthe pcr iod atbfesaid, this conlract shal lccase to be eliective on and iiom the dale of expiry'.

) . ] i c o , , p d r ) i r ; 1 ' . r u . , ' r . r , ) " 1 ' . i - i . l i r r l - : h . , o . _ : ( i r r o J!vilhoul assigning aoy reasons thereof: In any case your services \{ill be terrninaledl

lnl For an), act ofdishonesty, disobedience, insubordination, infidelity, imperinence,irregularity or other nrisconduct or neglect ofduty of incompelence on your parlin the discharge oftlre functions assigncd lo you or non or bad or ineffectivePedofrnance or the brcach on your parl ofany oflhe temrs, conditions orst ipulat ions conlained in lhis agreement ora violat ion on yourpad ofany ol theCompanl s Rules;

lbl If),ou are held guilty blr a competent coud ofany offence involving mofalrurprtude.

Icl For your disability that would affect lhe nonnal working

ldl lfyou absent ),ourscllcs lrom the duty 'vithour oblainirg appfovrl fof suclr absence.

lel l l you l i iL ro pass the |equircd cxarninat ions stared beiow:

I t is obl igatofy on your pal1 to qual i f ) youfselves of the nandatory fequiremenls of passing therequired examinat ions relat ing to al l the segments in capital market ( including derivat ive) and al lseSments in the commodity mafkel (including derivativet. Flence your confinnation in servrce rsalso subject to your qualirying the examinations as stated above.

Kindly si$ and return one copy ofthis lettef [allached] as a token ofyour acceplance for our records.

F n r / \ L u m c n C i t i t a l M r

l losy Shib i V M(ALrhorised Signalory)

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ACUMENDREAM ̂ PLAN ̂ ACHEIVE

ACMU AD | 20 1 0 :20 1 | / 2 43 9

Mr. Jigar Vyas ,Flat no C-101,,Shanty Niketan Complex,Opp. J.M.C. Nagar,Nr. Raiya Circle, Raiya Road,Rajkot-360005.

12.03.20t0

Deaf Jigar,

Confir$ati0n ofS€rvice

Witl reference to the discussions and the interview you had with us, we are pleas€d to ofter you appointmenr asBusiness Development Manager at our Rajkot branch. Effective fom the date ofjoining , your services willbe govemed by the rules & regulations and policies of the company , which are based on and subject toprovisions of the respective regulatory auihorities set fo(h or amended from time to time, and also by the termsofemployee welfare schemes, applicableto the company.

1. Your appointment will take effect film the date on which you join the dufy of the company. In anycase if you do not report for duty within 30 days of this letter it will be presumed that you havedeclined the offer and accordjngly tbis letter of appointment will be treated as in fiuctuous and notissued ai all.

2. Your duties and responsibilities shall include:

. Dealing with clients ofthe company and or its associates.

. Business development ofthe company and or its associate.

. Back office tunctions.

. Any other duties that are or may be assigned by the company ftom time to tim€.

3. You will be entitled xo the salary & benefits as mentioned in the attached Salary Breakup.

4. As discussed and agreed to between us, this appointment is valid only ifyou are able to achieve atarget revenue eaming (i.e., net brokerage eaming to the company meaning gross brokerage (nolincluding stalutoiy or oth€r mandatory leviet minus conmission payable to others) per nonthequivaient to three tiines of the CTC per nr'nll! as per the s2rary br.ik ri-, aili:hr.l. Ilcrce ur'lcss yciiachieve the target as stated above your service is liableto be terminated.

The company, however reserves ils right to terminate your ser.'7ices wjthout assigning any reason. lnany case your services will be terminated;

al for any act ofdishonesty, disobedience, insubordination, incivility, intemp€rance, inegularity rnattendance or other misconduct or neglect of duty or incompetence on your part in the discharge ofyour duties or non or bad or ineflective performarce or the breach on you| pa$ of any of lheterms, conditions or stipulrtions coutained in this agreement of a violation on your pari of any ofthe Company's Rules;

lbl ifyou are held guilty by a competent cout of any offence involving

ACUMEN CAPITAL MARKET ONDIA) LTD.S.l Reddiar & Sons Building, Veekshanam Road, Cochin - 682 035

Tel: +91-484-3079100 Fax: +91-484-2367030, E-mail: admin@acmlmail.com Web: www.lVember: NSE, BSE, NSDL, l \ rCX - SX.

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[c] for your disabitiry rhat would affbct rhe normal working.

ldl ifyou absenr yourselves from the duts/ wirhout obtaining approval for such absenoe.

lel ifyou fait to pass the required examinations staled below:

l:^:,"::rri::_t_-..1 l:*,fl( 19 o,.lril yourserves of the mandatory requirements of passins therequueq exammatrons relar ing ro al l lhe segmenls in capital ourker ( inctuding def l tat ; !el ard al lsegments in the coinmodiBr market (including derivativeq. Hence your confirma;on in seNrce ,s alsosubJect to your qualirying Xhe examinations as stated above.

t l":1,*ll 1.-:"llll:g lo rhe,satary.& benefirs as menrioned in rhe anached sarar) B,earup. whrcn arcDaseo on and subJect to lhe poticies. rule. and_ regularions of lhe Compan) and of lne respefl !eregulaLor) aurhorilres sel fonh of amended tsom l:me ro rime

6. You shall rerire on anaining the age of60 years withour any notice /advice. However, tbe companymay at its discretion, extend or reduce the age ofrerirement.

7. The hours ofwork and hotidays will be in accordance rvirh the Company,s Ruies ftom time-ro-time.

8. The_management reserves rh€ righr ro transfer you fiom one depafiment to another or liom oneoca on roanother or to any brancheg ofthe company presenfly owned or may be owned at a futuledate, any where in India or abroad

9. Dur-ing th€ pedod,of your emptoyment with th€ company you will neither mderlake any part timeemployment elsewhere nor engage in any business or orher vocation directly or indirectly.

10. It is understcod thar all dara and information including figures, srrategies, pians and client lists whichy.ou :9Te ro know or pursue during tbe course of your emplo),rnent ari Comp_y.s property anclshould be treated as confidential and shal nor be diwfe.a to _ip".ron our"ide ifr"'"*ir"".r.

"case ofdefautt-byyou in this regard, you sha be tiaUreio, ana *,.'Co_punl ,r,ril" *i,r"o t" "r"i.,compensation for loss or damage the Company is put to suslain in that regar;.

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conpan) sitholrr delay ofany act of dishoresty, flaud or cheatins or anyoamage _ro.rhe company-s properq rhat you may come to know of whether rhe same is undercontemplarion or is taking place orhas already taken place.

12. Upon retirement or termination ofyoxr enployment by the Company, you shall prornprly retum to ihecompany all documents, and win not retain exrracts or summaries, oi duplicates in ihe rorm ormracopyorsoft copy or in any electronic or other fotm. you shall also promprly rourn afi"yr lo.ig.ul Aduplicate), credit cards, computer discs, recordjngs, p,int-"t., i**ingr, unJ ,i," l]i" fi""r"ai"ewithout limitation, any propert). or asseis of the oo-pany oi mut".iair'."n""ting__o, "ontuln,ngconfidential information) that may be in your poss"ssion'or *aer yo* cont oi_l-8ui."o," . ,n"operation and business ofthe Comnanv

,r 3,,lgll1^.::lT:1.; tenainins

ro lour dcidem,c quatrficarions dare or binJl and e\perience on rhe robsnouro De produced roget]ler $ irh lieir respec \ e phorocopjes on lhe dale of) o|.rjolning.

14 In all matters including rhose not specificatv covered by this letter such as leave lbcilities, navenngetc. you w^ill be.governed by rules as applicable to orher enployees of your grade and category rn rrecompany ftom time to time.

SALARY BREAKUP

You will be entitled to the salary and benefits as details below, which are based onrules and regulations of the Conpany and of the respective regulatory authoritiestime to tlm€:

Monthlt/ YearhBasic 6,50CDA 65CHRA 1.30(Educational AllowanceConvevance Allowance 65(;Decial Allowance 7,90(fotal Salarv 17.00(2.04.00(

ComDanv contribution to EPF 78C

SomDanv conkibution to ESIOn ConfirmalionMediclaim (aoDrox)' 1 .50C

L Encashment' 6.80C

:TC 17,7402.25.781

* Entitlem€nt is subject to minimum qualirying period as per rule and is encashable onlv as per the

** Subject to the provisions ofthe r€ t, but will be paid only on supemnnuation/retiement as the case may be of the paym€fl ofcratuity act.

For Acumen Capital Merket

and subject io the polici€s,set forth or amended from

Rosy Shibi VM(Authorized Signatory)

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