Selection of the faculty members for the exchange program will be done jointly by the Deans of AIM & XLRI.

Each selected member must spend at least one academic term at the 'host' institute.

During this period, each selected member will be expected to teach at least one course in a full-time program of the host institute. Depending on one's interests, one may also participate in other activities such as short-term executive development programs, research projects and seminars.

The 'parent' institute will continue to pay salary to its nominee for the exchange period.

The 'host' institute will provide free board and lodge facilities, and pay an honorarium for the teaching done by a visiting exchange professor.

B. Joint Executive Development Programs: AIM and XLRI agree to jointly design, market, and conduct short-duration executive development programs in 3rd countries - especially in the Asian region. All responsibility, costs, and revenues will be shared on a 50:50 basis.

C. Joint Research: AIM and XLRI agree to identify research themes of international, particularly Asian, relevance and to form joint teams for carrying out research on them. The findings of such research projects will be published jointly by the two institutes.

D. Case Development: AIM and XLRI agree to launch a concerted drive to develop Asia-based cases and, thereafter, publish jointly a compilation on an annual basis. In view of its greater expertise in case writing, AIM agrees to conduct a workshop on the subject exclusively for XLRI faculty on dates to be finalized according to mutual convenience. XLRI will bear the travel expenses of AIM faculty deputed for this purpose.

E. XAT: In order to attract Indian applicants for admission, AIM agrees to join the group of business schools that accept XAT (XLRI's Aptitude Test) for admission purposes - and to pay the standard annual fee applicable to other member institutions. Furthermore, AIM undertakes to explore the possibility of promoting and conducting XAT on behalf of XLRI in the ASEAN region.

F. Joint Management Journal: AIM and XLRI agree to jointly launch a new, international-class management journal by January 2010. A joint 'project team' will be formed for this purpose; it will be ready to begin its preparatory work by April 2008.

G. Student Exchange: AIM and XLRI agree to continue student exchange as per the agreement signed between them earlier on December 13, 2004.

Concluded.

Contributed by -
Akshay Sinha,
External Linkages,
XLRI, Jamshedpur.