Model Project Development Agreement Page 50
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88seconded personnel on a materially similar basis and amount as any such allowances
which are provided to the Company's personnel.
Bonus and housing facilities
15.10
15.10.1
Bonus and housing facilities
(A)
The Company shall set aside ten (10) percent (%) of its Net Profit for
contributions to the Bonus Amount and welfare funds.
(B)
The Company shall establish a Staff Welfare Fund which shall be
operated in accordance with the criteria established by the Company
and the Laws of Nepal.
(C)
As an annual bonus, the Company shall distribute to its workers and
staff the lesser of (i) ten (10) percent (%) of its Net Profit in each fiscal
Year and (ii) the aggregate annual salaries payable to all workers and
staff (the "Bonus Amount"), provided that the Company shall not be
required to make bonus payments which exceed the aggregate annual
salary of each worker/member of staff in such Year.
(D)
The Company shall deposit any amounts remaining from the Bonus
Amount following full distribution in accordance with Section
15.10.1(C)into the Staff Welfare Fund and the Welfare Fund at National
Level in the proportion prescribed by the Labour Act 2048 (1992) or
equivalent legislation in force in Nepal from time to time.
15.10.2
Where required at the Project site, the Company shall provide
accommodation facilities for its workers and staff at its own cost and expense.
Consideration should be given, in consultation with Project Affected People, to
construct a proportion of this housing to permanent standards based on meeting the
wishes of the Project Affected People who may wish to move into these accommodation
facilities once the Project construction is completed.
Responsibilities of the Company
15.11
15.11.1 The Company shall be solely responsible for, among others:
(A)
implementing the Project;
(B)
planning, scheduling, monitoring, reporting and cost control;
(C)
establishing the procedures by which drawings, specifications and
technical documents are to be prepared by the Contractors, equipment
manufacturers, and any other relevant Persons;
(D)
procuring, negotiating the contracts with, and managing the
Construction Contractor and the O&M Contractor (and any other
Contractors required for the Project from time to time);
(E)
arranging financing for the Project;
(F)
supervision of the Project Area;
(G)
quality assurance;
(H)
obtaining performance guarantees for individual equipment items from
the relevant equipment suppliers;
(I)
monitoring overall performance of the Project; and
(J)
liaising between the GON and the Company's employees, Contractors
and advisers.
44
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