-------------------------------------------------- DRAFT FOR ATTORNEY REVIEW ONLY — NOT LEGAL OR TAX ADVICE IMPORTANT: This scholarship does NOT guarantee specific academic outcomes or employment. This document is a structured preparation draft only. Income tax treatment of scholarship payments received by Priya Sharma under the Income Tax Act 1961 India including whether the scholarship qualifies as exempt income under Section 10(16) must be confirmed with a qualified Indian Chartered Accountant. Employment law implications of the 2-year service return obligation under the Industrial Employment Standing Orders Act and applicable labour law in Maharashtra must be confirmed with a qualified Indian attorney. Consumer Protection Act 2019 India compliance for repayment obligations, Digital Personal Data Protection Act 2023 India compliance for processing Priya Sharma's personal data, and contract enforceability under the Indian Contract Act 1872 must all be confirmed with a qualified Indian attorney and tax advisor before this agreement is signed. -------------------------------------------------- SCHOLARSHIP AGREEMENT — DRAFT FOR ATTORNEY REVIEW Document Ref: SA-2026-001 Date of Preparation: June 1 2026 PROVIDER: TechCorp India Pvt Ltd Mumbai Maharashtra India Email: [provider email] RECIPIENT: Priya Sharma Age 22 Mumbai Maharashtra India Email: [recipient email] 1. RECITALS 1.1 TechCorp India Pvt Ltd is a large IT services company based in Mumbai Maharashtra India that awards the TechCorp India Merit Scholarship to support academically outstanding engineering students and build a pipeline of qualified technology talent for the company. 1.2 Priya Sharma is an undergraduate engineering student based in Mumbai India enrolled in the Bachelor of Engineering Computer Science program at Mumbai University and has been selected as a recipient of the TechCorp India Merit Scholarship for the academic years 2026 to 2028. 1.3 Both parties confirm their mutual intent to document this scholarship arrangement on the terms set out in this agreement. 2. DEFINITIONS 2.1 Provider: TechCorp India Pvt Ltd. 2.2 Recipient: Priya Sharma. 2.3 Scholarship: The TechCorp India Merit Scholarship awarded to Priya Sharma as described in Section 4. 2.4 Award Amount: INR 1,50,000 per year being INR 75,000 per semester for 2 years as described in Section 10. 2.5 Eligible Expenses: Tuition fees and living allowance as described in Section 5. 2.6 Academic Institution: Mumbai University. 2.7 Program: Bachelor of Engineering Computer Science. 2.8 Academic Conditions: The minimum 7.5 CGPA and full-time enrollment requirements in Section 6. 2.9 Service Return Obligation: The 2-year post-graduation employment commitment at TechCorp India Pvt Ltd as described in Section 8. 2.10 Repayment Obligation: The repayment triggers and amounts in Section 11. 2.11 Deferral: Temporary suspension of scholarship payments as described in Section 12. 2.12 Governing Law: Laws of Maharashtra India. 2.13 Effective Date: The date both parties sign this agreement. 3. SCHOLARSHIP AWARD 3.1 TechCorp India Pvt Ltd awards the TechCorp India Merit Scholarship to Priya Sharma for the Bachelor of Engineering Computer Science program at Mumbai University for the scholarship period from academic year 2026 to academic year 2028. 3.2 The total Award Amount is INR 3,00,000 over 2 years comprising INR 75,000 per semester for 4 semesters. 3.3 The scholarship is awarded subject to all conditions in this agreement being satisfied throughout the scholarship period. 3.4 Note: Income tax treatment of scholarship payments received by Priya Sharma including whether the scholarship qualifies as exempt income under Section 10(16) of the Income Tax Act 1961 must be confirmed with a qualified Indian Chartered Accountant before this agreement is signed. 4. ELIGIBLE AND INELIGIBLE EXPENSES 4.1 The scholarship covers the following Eligible Expenses: 1. University tuition fees charged by Mumbai University for the Bachelor of Engineering Computer Science program. 2. A living allowance contribution toward Priya Sharma's accommodation and subsistence costs during the scholarship period. 4.2 The following expenses are NOT covered by this scholarship: 1. Laptop, personal devices, or electronic equipment. 2. Travel costs except as specifically agreed in writing. 3. Examination recheck or supplementary examination fees. 4. Any fees for any program other than the Bachelor of Engineering Computer Science at Mumbai University. 5. Any personal expenses beyond the living allowance contribution. 4.3 Note: The income tax treatment of tuition fee payments versus living allowance payments under the Income Tax Act 1961 may differ. A qualified Indian Chartered Accountant must confirm the tax position before this agreement is signed. 5. ACADEMIC CONDITIONS AND CONTINUATION 5.1 To continue receiving the scholarship Priya Sharma must maintain the following academic conditions throughout the scholarship period: 1. A minimum Cumulative Grade Point Average of 7.5 or above at the end of each semester. 2. Full-time enrollment in the Bachelor of Engineering Computer Science program at Mumbai University with no unauthorized break in study. 3. Satisfactory academic progress as confirmed by Mumbai University semester results. 5.2 If Priya Sharma's CGPA falls below 7.5 in any semester TechCorp India Pvt Ltd will issue a written academic warning. If CGPA remains below 7.5 for two consecutive semesters TechCorp India Pvt Ltd may suspend or terminate the scholarship in accordance with Section 17. 5.3 TechCorp India Pvt Ltd may request a meeting with Priya Sharma to discuss academic progress at any time during the scholarship period with 7 days written notice. 6. REPORTING AND COMMUNICATION OBLIGATIONS 6.1 Priya Sharma agrees to: 1. Submit her official Mumbai University academic transcript to TechCorp India Pvt Ltd within 30 days of the end of each semester. 2. Notify TechCorp India Pvt Ltd in writing within 7 days of any change in enrollment status, change of program, leave of absence, or intention to withdraw from the program. 3. Submit a written enrollment confirmation from Mumbai University at the start of each semester before the semester scholarship installment is released. 4. Notify TechCorp India Pvt Ltd immediately of any academic misconduct finding or disciplinary action by Mumbai University. 6.2 TechCorp India Pvt Ltd will acknowledge each submitted transcript or report within 14 business days. 7. SERVICE RETURN OBLIGATION 7.1 In consideration of the TechCorp India Merit Scholarship Priya Sharma agrees to join TechCorp India Pvt Ltd as a full-time employee for a minimum period of 2 years immediately after graduating from the Bachelor of Engineering Computer Science program at Mumbai University. 7.2 The service return period commences within 90 days of Priya Sharma's graduation date. TechCorp India Pvt Ltd will extend a formal offer of employment before graduation subject to available positions and Priya Sharma's satisfactory degree completion. 7.3 The terms and conditions of employment during the service return period will be governed by TechCorp India Pvt Ltd's standard employment contract and applicable Indian labour law. 7.4 If Priya Sharma fails to join TechCorp India Pvt Ltd within 90 days of graduation without reasonable cause or voluntarily resigns before completing the 2-year service return period, the pro-rata repayment obligation in Section 11 applies. 7.5 Note: Employment law implications of the service return obligation under Indian labour law, the enforceability of bond-back clauses under the Indian Contract Act 1872, and any applicable standing orders must be confirmed with a qualified Indian attorney before this agreement is signed. 8. INTELLECTUAL PROPERTY 8.1 Priya Sharma retains all intellectual property rights in all academic assignments, projects, dissertations, and research outputs produced during the scholarship period as part of her Bachelor of Engineering Computer Science program at Mumbai University. 8.2 TechCorp India Pvt Ltd makes no claim to any intellectual property in Priya Sharma's academic work produced during the scholarship period. 8.3 Note: IP ownership of student academic outputs may be subject to Mumbai University's own IP and student work policies that must be confirmed with Mumbai University before commencement. 9. PAYMENT SCHEDULE AND METHOD 9.1 The Award Amount is payable in 4 installments of INR 75,000 each: Semester 1: INR 75,000 within 14 days of Semester 1 commencement on submission of Semester 1 enrollment confirmation. Semester 2: INR 75,000 within 14 days of Semester 2 commencement on submission of Semester 2 enrollment confirmation and Semester 1 transcript. Semester 3: INR 75,000 within 14 days of Semester 3 commencement on submission of Semester 3 enrollment confirmation and Semester 2 transcript confirming minimum 7.5 CGPA. Semester 4: INR 75,000 within 14 days of Semester 4 commencement on submission of Semester 4 enrollment confirmation and Semester 3 transcript confirming minimum 7.5 CGPA. 9.2 All payments by NEFT to Priya Sharma's nominated Indian bank account. 9.3 Note: Income tax implications of receiving scholarship installment payments including any TDS obligations on the Provider must be confirmed with a qualified Indian Chartered Accountant. 10. REPAYMENT TRIGGERS AND OBLIGATIONS 10.1 Priya Sharma is required to repay the scholarship amounts received in the following circumstances: 1. Voluntary withdrawal from the program: Full repayment of all scholarship amounts received to the date of withdrawal. 2. Termination for CGPA failure below 7.5 for two consecutive semesters: 50 percent of all scholarship amounts received to the date of termination. 3. Failure to join TechCorp India Pvt Ltd within 90 days of graduation without reasonable cause: Pro-rata repayment calculated as total scholarship received multiplied by the proportion of the 2-year service return period not completed. 4. Early resignation from TechCorp India Pvt Ltd before completing the 2-year service return period: Pro-rata repayment as above. 5. Academic misconduct resulting in program exclusion: Full repayment of all scholarship amounts received. 10.2 No interest will apply to repayment amounts if repaid in full within 6 months of the repayment trigger date. 10.3 Repayment will be made by NEFT to TechCorp India Pvt Ltd's nominated bank account within the agreed period. 10.4 Note: The enforceability of scholarship repayment and bond-back clauses under the Indian Contract Act 1872 and the Consumer Protection Act 2019 India must be confirmed with a qualified Indian attorney before this agreement is signed. 11. DEFERRAL POLICY 11.1 Priya Sharma may apply in writing to defer the scholarship for a maximum period of one academic semester in circumstances of serious medical illness, family emergency, or other exceptional circumstances with supporting documentation. 11.2 Deferral applications must be submitted to TechCorp India Pvt Ltd at least 14 days before the semester commencement. 11.3 Deferral approval is at TechCorp India Pvt Ltd's sole discretion and must be confirmed in writing. During deferral no scholarship payments will be made and the scholarship period is extended by the deferral period. 12. SCHOLARSHIP VARIATION 12.1 Priya Sharma may apply in writing to vary the scholarship conditions covering change of approved elective subjects, extension of the scholarship period due to medical circumstances, or other exceptional grounds. 12.2 All variations require TechCorp India Pvt Ltd's prior written consent. The Provider may impose additional conditions on any approved variation. 13. DATA PROTECTION AND PRIVACY 13.1 TechCorp India Pvt Ltd will collect, store, and process Priya Sharma's personal data including name, contact details, academic results, and bank account details in accordance with the Digital Personal Data Protection Act 2023 India for the purpose of administering this scholarship. 13.2 Personal data will not be shared with third parties except as required by applicable Indian law or Mumbai University's enrollment verification process. 13.3 Note: DPDP Act 2023 compliance obligations for processing scholarship recipient personal data including applicable consent requirements and data retention obligations must be confirmed with a qualified Indian attorney. 14. REPRESENTATIONS AND WARRANTIES 14.1 TechCorp India Pvt Ltd represents it has the authority and funds to award this scholarship and will pay each installment on the agreed schedule subject to conditions being satisfied. 14.2 Priya Sharma represents she has the legal capacity to enter this agreement, that all information provided in her scholarship application was accurate and complete, that she is enrolled in the Bachelor of Engineering Computer Science program at Mumbai University, and that she will fulfil all scholarship conditions throughout the scholarship period. 15. TERM AND EXPIRY 15.1 The scholarship period runs from the commencement of Semester 1 in 2026 to the completion of Priya Sharma's Bachelor of Engineering Computer Science program at Mumbai University or March 2028 whichever is earlier. 15.2 On completion of the scholarship period Priya Sharma must submit a final academic transcript confirming graduation and must fulfil the service return obligation in Section 7. 16. TERMINATION 16.1 TechCorp India Pvt Ltd may terminate the scholarship with 30 days written notice if Priya Sharma: 1. Fails to maintain the minimum 7.5 CGPA for two consecutive semesters. 2. Withdraws voluntarily from the program. 3. Is excluded from Mumbai University for academic misconduct. 4. Provides false or misleading information in the scholarship application. 5. Breaches any material condition of this agreement. 16.2 Priya Sharma may appeal a termination decision by submitting a written appeal to TechCorp India Pvt Ltd's HR Director within 14 days of receiving the termination notice. TechCorp India Pvt Ltd will respond within 21 days. 16.3 On termination the applicable repayment obligation in Section 10 immediately becomes due. 17. GOVERNING LAW AND DISPUTES 17.1 Laws of Maharashtra India and the Consumer Protection Act 2019 govern this agreement. 17.2 Disputes proceed through direct negotiation then binding arbitration in Mumbai. SIGNATURE BLOCK: Note: Both parties must have this agreement reviewed by a qualified Indian attorney and Chartered Accountant before signing. Income tax treatment of scholarship payments under Section 10(16) Income Tax Act 1961, enforceability of bond-back service return clause under Indian Contract Act 1872 and Indian labour law, Consumer Protection Act 2019 repayment compliance, DPDP Act 2023 data compliance, and TDS obligations on scholarship payments must all be confirmed before this agreement is signed. TechCorp India Pvt Ltd (Provider) Signature: ________________ Name: ____________________ Title: ___________________ Date: ____________________ Priya Sharma (Recipient) Signature: ________________ Date: ____________________ -------------------------------------------------- This Scholarship Agreement draft was generated by an AI drafting tool as a structured preparation and documentation aid only. It does not constitute legal or tax advice. Scholarship does NOT guarantee specific academic outcomes or employment. Always have this document reviewed by a qualified attorney before either party signs. --------------------------------------------------