Terms and Conditions for Managed Payroll

Fees are inclusive of submission of payroll reports, accounting entries and statutory reports as enumerated in page 2 of this document
Fees are exclusive of Value Added Tax (VAT)
Fees assume a lock-in period of one year
For Payroll and Time & Attendance Processing = in the event that the number of employees per month will decrease, we require a minimum monthly billing of Php15,000 which is applicable for payroll processing that covers up to 50 employees with 2 payroll runs per month.

In addition, Asticom may bill <Company Name> for out-of-pocket, expenses (OPEs) that are based on actual usage (if any) including, but not limited to:

Phone Usage charges for long distance calls
Office Supplies required for extra requirements, e.g. CDs, papers, diskettes, etc.
Transportation and meal allowances for personal meeting and appearance requests made to Asticom, subject to <Company Name>’s prior approval.
Overtime pay and night differential based on actual hours and activities rendered for the delivery of <Company Name>‘s special request
Travel and accommodation expenses for trainings outside of Metro Manila Items enumerated above are subject to <Company Name>’s approval.

Items enumerated above are subject to <Company Name>’s approval.

Confidentiality

ASTICOM and <Company Name> shall hold in trust and confidence all Confidential Information relating to the other Party. “Confidential Information” shall mean all information disclosed or obtained by either Party to the other as a result of the relationship between the Parties existing by virtue of this Agreement, whether orally, visually, in writing or in any other tangible form, and includes, but is not limited to, payroll, economic and business data, business plans, and the like, but shall not include:

information which becomes generally available other than by release in violation of this Section,
information which becomes available on a non-confidential basis to a Party from a source other than the other Party to this Agreement provided the Party in question reasonably believes that such source is not or was not bound to hold such information confidential,
information acquired or developed independently by a Party without violating this Section, and
information that any Party hereto reasonably believes it is required to disclose by law, provided that it first notifies the other Party hereto of such requirement and allows such Party a reasonable opportunity to seek a protective order or other appropriate remedy to prevent such disclosure.

Project Implementation

Data Gathering	:	to be agreed by both parties
System Configuration	:	to be agreed by both parties
Test Run	:	to be agreed by both parties
Users Training	:	to be agreed by both parties
Parallel Run	:	to be agreed by both parties

Note: Above timeline is based on Asticom’s standard implementation process and subject to change after the full scoping of customer requirements.

Effectivity of Proposal

This proposal shall be effective for a period of thirty (30) days from its date, and shall be considered withdrawn if Asticom does not receive <Company Name>’s acceptance within such period.

Services Agreement

After Company Name’s acceptance of this proposal, the parties shall promptly meet and mutually determine the specific scope of services necessary and appropriate <Company Name>’s outsourcing of its Timekeeping and Payroll functions. The parties shall then execute a Services Agreement which shall define the mutually agreed scope of services as well as the terms and conditions governing the provision of such services.

Agreement between the Parties

This Engagement Letter and the Services Agreement, taken together, shall comprise the agreement between Asticom and <Company Name> in relation to this engagement.

If you are amenable to the foregoing proposed terms, please affix your signature in the space provided below. Once signed, this will serve as our basis to proceed with the engagement. Your conformance shall be treated as our meeting of minds on the general terms of this Engagement Letter.