Date: 28 March, 2022
Mr. Atsushi Terada
Tokyo, Japan
Email: atsushi.terada@summit-centre.com
Mobile: +01321-160194
Subject: Letter of Re-Appointment
Dear Mr. Atsushi Terada
After having your consent, we are pleased to re-appoint you as “Deputy to Deputy Chief Executive Officer” at Summit Meghnaghat II Power Company Limited (“SMIIPCL”) under the terms and conditions explained below. Your re-appointment commences from SMIIPCL or on 16 May 2022 and expires on 30th April 2024 unless until extended by SMIIPCL.
Please read all the conditions set forth in this letter of appointment before consenting.
i) Reporting and Responsibilities
You will report to the Deputy Chief Executive Officer and the board of the SMIIPCL-broadly to undertake the following:
Duties and Responsibilities
1. To support Deputy Chief Executive Officer and the team at SMIIPCL
2. To analyze and evaluate troubles and unplanned outages
3. To check and review progress on construction plans and O&M plans
4. To support for technical issues regarding CCGT
5. Other necessary works for SMIIPCL
Please note, that, your appointment and responsibilities will be included but not limited to the above and may be changed anytime in the future as deemed necessary by SMIIPCL's management and upon mutual agreement between you and SMIIPCL.
ii) Compensation package
In consideration of your services to SMIIPCL, you will be paid a compensation package as detailed below:
a) You will receive a consolidated gross salary of USD 4,000/month (or equivalent BDT)
only being 62.5% as basic and the remainder as 40% house rent of basic, 10% Medical Allowance of basic and 10% Transport Allowance of basic, per month. You will however be responsible for your own income taxes on your salary. SMIIPCL will deduct applicable AIT prior to disbursement of monthly salary.
b) You will be entitled to two festival bonuses annually, each equal to your one-month basic pay and Life & Medical Insurance benefit as per Company Rule.
iii) Place of Work
Your main workplace will be Summit-Centre, our Head Office; however, the management of SMIIPCL might assign you to work in other sites/offices as and when needed subject to mutual agreement between you and SMIIPCL.
iv) Acknowledgement of Summit's commitment to anti-bribery and corruption at the workplace
a) Summit Corporation Limited and its subsidiaries strongly discourage the act of bribery, either directly or through third parties, in any circumstances.
b) Such acts shall be treated as an act of gross misconduct, employees are therefore requested to avoid such situations and report any knowledge or suspicions of the offering, request for, receipt or payment of a bribe. A failure to do so may amount to gross misconduct.
c) By signing this letter of re-appointment, you acknowledge that you are aware and will abide by such regulations as well as you have maintained till now.
v) Non-disclosure of confidential information
a) In accepting this letter of re-appointment, you agree that certain confidential information you obtain during your re appointment period with SMIIPCL which relates to intellectual property, financial information, personnel projections, strategic planning or any other work product not readily available to the public to be trade secret and confidential information (the “Information”).
b) You also recognize and agree that it is reasonable and necessary to protect SMIIPCL's information and that you will take reasonable steps to maintain the confidentiality of the Information, both during and following you re-appointment at SMIIPCL. Notwithstanding the foregoing, you may disclose the Information to JERA Co., Inc., its affiliates and their respective representatives where such disclosure is for a purpose related to the services hereunder or the operation of this letter of re appointment.
vi) Complying with all employment rules, policies and regulations
You agree that you are not an employee of Summit Corporation Limited or of SMIIPCL. You further agree to conduct yourself in a manner which is not prejudicial to the SMIIPCL's interest to abide by SMIIPCL's rules and regulations which are generally applicable to SMIIPCL's employees. All other matters not mentioned herein will be governed by all the rules, policies and regulations of SMIIPCL in effect which you will be informed of from time to time. You are required to read and acknowledge that you will abide by them.
If you find the terms favorable, please sign the duplicate copy of the letter as a token of your acceptance. Please note that you may be requested to sign a similar letter of appointment under SMIIPCL, which would replace this letter.
We welcome you to our Summit family and trust your association with us would be a long term and meaningful one.
Yours sincerely,
_________________
Faisal Khan
Additional Managing Director
Accepted and agreed to this 28 March, 2022
____________________
Mr. Atsushi Terada
Deputy to Deputy Chief Executive Officer
Email: atsushi.terada@summit-centre.com
Mobile: +01321-160194
Copy to:
1. Personal file
2. Director (Finance)
3. Head of HR/ HR Department