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T.C.I agreement

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6 views

T.C.I agreement

Uploaded by

worldwide3706351
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Agreement

1. Usman Bashir (President) and Mrs. Kamal Usman (CEO) will remain the same until major
shareholder decided to change by voting.
2. T.C.I Management will own 74% and Leaders Group will own 26% of the T.C.I College R.Y.K
location only.
3. The Leaders Group will own 26% share of T.C.I College R.Y.K only and will not be part of T.C.I
group of School system.
4. The Leaders Group will hand over all the assets and transfer all students to T.C.I Management
against their share payment.
5. The Leaders Group will not issue any vouchers to students for tuition fees or any other matter
starting from 27 SEP/2017.
6. The Leaders Group and T.C.I Management both will liable to pay their own liabilities due till Sep
30/2017.
7. The Leaders Group will not authorize to claim any fees from student’s right after signing of this
contract.
8. The Leaders Group will provide all the Board access passwords and detail of university affiliation
to T.C.I Management team.
9. T.C.I College R.Y.K has right to operate 9th and 10thclasses but only in allowed Territory.
10. For 9th and 10th classes territory map is attached.
11. T.C.I College R.Y.K will not take student’s admissions from outside the territory limit unless
approved from T.C.I School system Management.
12. T.C.I School system has fully rights to open a school location up to 8 thclass in a T.C.I College
R.Y.K territory map.
13. T.C.I management team will remain the management of T.C.I College R.Y.K.
14. Only T.C.I Management Team has authority to make changes in College operation.
15. Any new policy introduce where finance required more than R.S 50,000 T.C.I College
Management will discuss with The Leaders Group but have a right to make a final decision.
16. Any decisions will be made for Institute by T.C.I Management Team The Leaders Group has to
honor that.
17. The Leaders Group will not interfere in College operational changing unless asks by T.C.I
Management.
18. The Leaders Group will fully support in admission campaign but managed by T.C.I Management.
19. The Leaders Group will remain as a sleeping partner.
20. Only C.E.O of The Leaders Group has a right to ask for accounts audit with one month written
notice.
21. Every 4th month of the fiscal year Audit has to be done by both parties to ensure account
accuracy.
22. All partners will deposit money in college account according to their percentage if extra cash
needed for college operation.
23. Fiscal year will be May to following year of April.
24. All accounts will be settled in May of every year.
25. If The Leaders Group wants to withdraw from the agreement within 5 years there share
percentage will go zero because of the agreement breech then T.C.I Management will not be
liable to pay anything to The Leaders Group.
26. If T.C.I Management Breech the agreement within 5 years then T.C.I Management will be liable
to pay 3 times of their current share value within 1 year of time.
27. If The Leaders Group wants to withdraw from the agreement after 5 years of the agreement
then T.C.I Management will only liable to pay half of their current share value within 1 year of
time.
28. If T.C.I Management Breech the agreement after 5 years then T.C.I Management will liable to
pay 2 times of their current share value within 1 year of time.
29. To evaluate share value we will use Revenue + T.C.I College R.Y.K assets as share value.
30. The Leaders Group cannot sell their share to any third party except T.C.I College management.
31. T.C.I management will not liable for any legal action against The Leaders Group.

1. Usman Bashir 2. MR.RIZWAN MAJEED

(President TCI) (The Leaders Group)

WITNESSES:
1. SAJID ALI S/o Jabir Ali 2. Numan Bashir S/o Bashir Ahmed
R/o Hassan Colony Rahim Yar Khan Gulshan Iqbal Rahim Yar Khan

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