Document:

Amended and Restated Employment Agreement of Rohit Kapoor

 Exhibit 10.11 
 EXECUTION COPY 
 AMENDED AND RESTATED EMPLOYMENT AND NON-COMPETITION 
 AGREEMENT 
 AMENDED AND RESTATED
EMPLOYMENT AND NON-COMPETITION AGREEMENT (this “Agreement”) dated as of December 16, 2008 (the “Effective Date”), by and among EXLSERVICE HOLDINGS, INC., a Delaware corporation
(“Holdings” or the “Company”, and together with any subsidiaries of Holdings, the “Companies”), and Rohit Kapoor (the “Executive”). 
 W I T N E S S E T H : 
 A. The
Companies and Executive are currently parties to an Employment and Non-Competition Agreement dated as of September 30, 2006 (the “Current Employment Agreement”). 
 B. The Company desires to continue to employ Executive, and Executive is willing to continue to be employed by the Company, on the terms and conditions
set forth in this Agreement, which amends and restates the Current Employment Agreement to reflect Executive’s new title and responsibilities, effective the Effective Date. 
 C. Executive acknowledges that (i) Executive’s continued employment with the Company will provide Executive with trade secrets of and
confidential information concerning the Companies and (ii) the covenants contained in this Agreement are essential to protect the business and goodwill of the Companies. 
 Accordingly, in consideration of the premises and the respective covenants and agreements of the parties set forth below, and intending to be legally
bound hereby, the parties agree as follows: 
 Section 1. Employment. The Company hereby continues to employ Executive, and Executive
hereby accepts such continued employment, on the terms and conditions set forth in this Agreement. Executive represents that Executive is not a party to any agreement that restricts Executive’s right or ability to freely carry out
Executive’s duties hereunder. 
 Section 2. Employment Term. Subject to the provisions of Section 7 of this Agreement, this
Agreement shall be effective for a period commencing on the Effective Date and ending on December 31, 2009 (the “Initial Employment Term”); provided, however, that the Initial Employment Term shall be automatically extended for
successive twelve (12) month periods unless, no later than 120 days prior to the expiration of the Initial Employment Term or any extension thereof, either party hereto shall provide written notice to the other party hereto of its or his desire
not to extend the Employment Term hereof (the Initial Employment Term together with any extension shall be referred to hereinafter as the “Employment Term”). 

 Section 3. Duties, Authority, Status and Responsibilities. 
 (a) Executive shall serve as the Chief Executive Officer of the Company, and in such other position as the Board of Directors of the
Company (the “Board”) may from time to time reasonably determine, subject at all times to the direction, supervision and authority of the Board. Executive’s duties shall include such duties as the Board may from time to time
reasonably assign. The Company agrees to provide Executive such assistance and work accommodations as are suitable to the character of his positions with the Company and adequate for the performance of his duties. The Executive shall be based at the
Company’s executive offices in the metropolitan New York City area or metropolitan Delhi, India area, as directed from time to time by the Board. 
 (b) During the Employment Term and except as otherwise agreed by the Company, Executive shall devote Executive’s full employable time, attention and best efforts to the business affairs of the Companies (except
during vacations or illness) and will not actively engage in outside activities, whether or not such activity is pursued for gain, profit or other pecuniary advantage unless such activity (and the amount thereof) is approved by the Board.
Executive’s list of approved outside activities with a description of the nature, scope and time commitment for each of such outside activities is attached hereto as Schedule 3(b) (the “Outside Activities”) (it
being understood that such approval is based on the descriptions set forth in Schedule 3(b) and the level of activity and the nature of the activities remains consistent with the description set forth therein). The Board may request Executive
to take reasonable steps to terminate an affiliation with any entity listed on Schedule 3(b) as promptly as practicable, but, in any event, no later than three (3) months after such request (provided, however, if Executive is required to
divest any equity securities, Executive shall have six (6) months from the date of such request to dispose of such securities), if, in the Board’s reasonable determination, Executive’s affiliation with any such entity listed on
Schedule 3(b) presents, or would present, a material harm to the reputation, business or prospects of the Company. Subject to Executive’s election or appointment as such, Executive further agrees to serve (without additional compensation)
if so designated by the stockholders of the Companies, as applicable, during the Employment Term as a director and a member of any committee of the board of directors of any of the Companies. In addition to the other titles and responsibilities
described in this Section 3, if requested by the Board, Executive shall serve (without additional compensation) during the Employment Term as an officer of any of the subsidiaries of the Company. 
 Section 4. Cash Compensation. 
 (a) Subject to paragraph (b) below, during the Employment Term, Executive shall receive an annual base salary (the “Base Salary”) of FOUR HUNDRED TWENTY THOUSAND AND 00/100 DOLLARS ($420,000) (the “Initial Base
Salary”). Notwithstanding the provisions of Section 4(b), the Base Salary shall be reviewed no less 

  

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frequently than annually during the Employment Term for increase, if any, in the sole discretion of the compensation committee of the Board
(“Compensation Committee”). The Base Salary shall not be decreased at any time, or for any purpose, during the Employment Term, unless a Company-wide decrease in pay is implemented. In such case, any decrease in the Base Salary
shall be no greater, as a percentage of the Base Salary, than the lowest percentage decrease in the base salary of any other member of the Company’s senior management. The Base Salary shall not be less than the base salary of any other employee
of the Company subject to section 16 of the Securities Exchange Act of 1934 (the “Exchange Act”), other than those who become employed by the Company by means of an acquisition of a corporation or business and become employees of
the Company subject to a preexisting employment arrangement. The Base Salary shall be payable in accordance with the customary payroll practices of the Company for salaried employees. 
 (b) Executive shall have an opportunity to receive an annual cash bonus equal to 75% of Base Salary at target, with a maximum payment of
no greater than 150% of Base Salary. The Compensation Committee shall determine the criteria and thresholds at which the target and maximum bonus shall be earned, as well as the level of attainment of the bonus criteria below which no bonus shall be
earned, and the level of attainment at which a bonus of other than 75% or 150% of Base Salary shall be earned. To the extent there are extraordinary events such as acquisitions or dispositions, targets will be amended by the Board to reflect those
events. Executive shall be paid Executive’s annual cash bonus (if any) when bonuses are paid generally to senior officers of the Company following completion of the audited financial statements of the Company. Such bonus shall be paid no later
than December 31 of the calendar year following the year in which such bonus is earned. In the event the Company becomes subject to Section 162(m) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated
thereunder (the “Code”), the Committee may determine to take such action as shall be necessary to preserve the tax deductibility of the bonus. In that event, this Section 4(b) shall construed as necessary to do so. 

Section 5. Reimbursement of Expenses. During the Employment Term, Executive shall be entitled to receive prompt reimbursement for all travel
and business expenses reasonably incurred by Executive (in accordance with the policies and procedures established from time to time by the Company) in performing services hereunder; provided that Executive shall promptly and properly account
therefor in accordance with the Company’s expense policy. 
 Section 6. Other Benefits. 
 (a) Benefit Plans, etc. During the Employment Term, Executive shall (i) be able to participate in all employee benefit plans
and programs that are currently made available to the Company’s senior executives generally or to its employees generally, including, without limitation, pension, profit-sharing, savings and other retirement plans or programs, medical, dental,
hospitalization, short-term and long-term disability and life insurance plans or programs, accidental death and dismemberment protection, travel accident insurance, and any other employee welfare benefit plan or 

  

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program that may be sponsored by the Company from time to time, whether funded or unfunded, and (ii) receive such additional fringe benefits and
perquisites as the Board may, in its sole discretion, from time to time determine; provided, however, that with the exception of the stock option described in Section 6(h) hereunder, such benefits for Executive shall not include
any equity compensation awards during the Initial Employment Term, except as may hereafter be awarded at the discretion of the Compensation Committee. Nothing in this Agreement shall be construed to require the Company to establish or maintain any
such plans, programs, benefits or perquisites. 
 (b) Tax Planning Assistance. The Company shall reimburse Executive up
to $12,000 for expenses incurred during the Employment Term in connection with personal tax and estate planning. 
 (c)
Vacations. Executive shall be entitled to four (4) weeks vacation with pay during each year of the Employment Term. Vacations shall not be taken in a manner which will unreasonably interfere with Executive’s duties hereunder.
Executive shall also be entitled to all paid holidays and personal days given by the Company to its senior executives. 
 (d)
Travel. See Schedule 6 attached hereto. 
 (e) Transportation. See Schedule 6 attached hereto.

 (f) Relocation. If Executive relocates his residence at the request of the Company during the Employment Term, the
Company shall reimburse Executive for the cost of relocating himself and his immediate family, as reasonably determined at such time by the Board. In the event that Executive and his immediate family are relocated with the consent of the Board as
contemplated by this Agreement, then Executive also shall be reimbursed for the after-tax costs of maintaining his existing residence at the Effective Date subsequent to any such relocation so as to permit Executive to have the same after-tax value
as though he were not maintaining said residence; provided that Executive shall use his best efforts to mitigate such costs by either renting his existing residence for a market rent (in which case the Company’s obligation shall be limited to
the costs of maintaining such residence in excess of such rent) or selling such residence at a prevailing market price (in which case the Company’s obligation shall cease as of and following the closing of such sale). 
 (g) Additional Fringe Benefits. During the Employment Term, Executive shall be entitled to additional benefits listed on
Schedule 6 hereto. 
 (h) Equity Awards. Executive shall be eligible to receive stock option and/or restricted
stock awards annually during the Employment Term. The Compensation Committee shall have the sole discretion to determine the amount and form of any such subsequent award; provided that in making such determination it shall take into account
(i) the grant date value of the stock option granted to Executive on July 27, 2006 in respect of 75,000 shares of Series B common stock of Holdings (“Common Stock”) as the “baseline” value for subsequent awards,
(ii) the Company’s performance 

  

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against budget since the grant date of the immediately preceding equity compensation award to Executive and (iii) any changes in market compensation of
similarly situated executives since the grant date of the immediately preceding equity compensation award to Executive. The definitive terms of each such subsequent equity compensation award shall be set forth in a restricted stock or stock option
agreement, as applicable, between Executive and the Company substantially in the form of Exhibit A or Exhibit B attached hereto, as applicable, except that (i) the vesting shall be on an annual ratable basis over four years
commencing on the date of grant of the award, (ii) the exercise price of a stock option shall be the fair market value of the stock subject to such option on the date of grant and (iii) such terms may be changed by the mutual agreement of
Executive and the Company. 
 (i) Timing of Certain Payments. To the extent that any reimbursements pursuant to
Sections 5 or 6 are taxable to Executive, any such reimbursement payment due to Executive shall be paid to Executive as promptly as practicable, and in all events on or before the last day of Executive’s taxable year following the taxable year
in which the related expense was incurred. The reimbursements pursuant to Sections 5 or 6 are not subject to liquidation or exchange for another benefit and the amount of such benefits and reimbursements that Executive receives in one taxable year
shall not affect the amount of such benefits or reimbursements that Executive receives in any other taxable year. 
 Section 7.
Termination. The Employment Term and Executive’s employment hereunder may be terminated under the following circumstances: 
 (a) Death. The Employment Term and Executive’s employment hereunder shall terminate upon Executive’s death. In that event, Executive’s estate shall be entitled to a lump sum payment in cash equal
to the sum of all accrued cash obligations owing to Executive, plus an amount equal to a pro-rata portion of the projected bonus amount for the year during which the death occurs, as reasonably determined by the Compensation Committee. Following any
termination of Executive’s employment hereunder pursuant to this Section 7(a), other than as set forth in Section 7(g) the Company shall have no further obligation to pay any compensation or provide any benefits, except as expressly
set forth herein. 
 (b) Disability. Either Party may terminate Executive’s employment hereunder for
Disability. “Disability” shall mean Executive’s inability, due to physical or mental incapacity, to substantially perform Executive’s duties and responsibilities under this Agreement for a period of 180 consecutive
days. In conjunction with determining Disability for purposes of this Agreement, Executive hereby (i) consents to any such examinations which are relevant to a determination of whether Executive is mentally and/or physically disabled and
(ii) agrees to furnish such medical information as may be reasonably requested, and to waive any applicable physician-patient privilege that may arise because of such examination. Not more than 30 days following any termination of
Executive’s employment hereunder pursuant to this Section 7(b), the Company shall make a lump sum payment in cash to Executive equal to the sum of all accrued cash obligations owing to Executive, plus an amount equal to a pro-rata portion
of the projected bonus amount for the year during which the Disability occurs. 
  

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 In the event of Executive’s physical or mental incapacity which the Board reasonably determines is
likely to result in a Disability, the Company may temporarily remove Executive’s job title and relieve him of his responsibilities until the time when Executive returns to his employment in the same capacity as prior to such incapacity or is
terminated in accordance with this Section 7(b), and such removal of title shall not constitute the removal of title (as contemplated by clause (B) of Section 7(d)) for the purpose of determining “Good Reason’ (as defined
below). Notwithstanding the foregoing, if Executive resumes his duties within 180 days of such incapacity, his title and position shall be reinstated. 
 (c) Termination for Cause; Voluntary Termination; Expiration of the Employment Term. The Employment Term and Executive’s employment hereunder may be terminated (i) by the Company for
“Cause” (as defined below) by written notice, specifying the grounds for Cause in reasonable detail, and (ii) by Executive “voluntarily” (that is, other than for Disability or Good Reason in accordance with Section 7(b)
or 7(d)). Executive’s employment shall be terminated at the end of the Employment Term following either party hereto giving the other a notice of its or his desire not to extend the Employment Term in accordance with Section 2.
“Cause” shall mean: 
 (A) a final non-appealable conviction of, or a pleading of no contest to, (i) a crime of
moral turpitude which causes serious economic injury or serious injury to the Company’s reputation or (ii) a felony; or 
 (B) fraud, embezzlement, gross negligence, self-dealing, dishonesty or other gross and willful misconduct which has caused serious and demonstrable injury to the Company; 
 (C) material violation by Executive of any material Company policy; 
 (D) willful and continuing failure to substantially perform Executive’s duties (other than for reason of physical or mental
incapacity) which failure to perform continues beyond fifteen (15) days after a written demand for substantial improvement in Executive’s performance, identifying specifically and in detail the manner in which improvement is sought, is
delivered to Executive by the Company; provided that a failure to achieve performance objectives shall not by itself constitute Cause and no act or failure to act by Executive shall be considered “willful” unless done or failed to be done
by Executive in bad faith and without a reasonable belief that Executive’s actions or omission was in the best interest of the Company; 
 (E) Executive’s failure to reasonably cooperate in an investigation involving the Company by any governmental authority; 
  

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 (F) Executive’s material, knowing and intentional failure to comply with applicable
laws with respect to the execution of the Company’s business operations, including, without limitation, a knowing and intentional failure to comply with the Prevention of Corruption Act of India, 1988, or the United States Foreign Corrupt
Practices Act of 1977, as amended; provided, that, if all of the following conditions exist, there will be a presumption that Executive has acted in accordance with such applicable laws: Executive is following, in good faith, the written advice of
counsel, such counsel having been approved by the Board as outside counsel to the Company for regulatory and compliance matters, in the form of a legal memorandum or a written legal opinion, and Executive has, in good faith, provided to such counsel
all accurate and truthful facts necessary for such counsel to render such legal memorandum or written legal opinion; 
 (G)
Executive’s failure to follow the lawful directives of the Board which is not remedied within fifteen (15) days after Executive’s receipt of written notice from the Company specifying such failure; 
 (H) Executive’s use of alcohol or drugs which materially interferes with the performance of his duties; or 
 (I) Executive’s failure to take the reasonable steps necessary to terminate his affiliation with any entity listed on
Schedule 3(b) within six months after being requested by the Board, pursuant to Section 3(b) hereof, to take such action. 
 Following any
termination or expiration of the Employment Term and Executive’s employment hereunder pursuant to this Section 7(c), other than as set forth in Section 7(g) Executive shall not be entitled to receive any further compensation or
payments under the Agreement (except for Base Salary relating to Executive’s services prior to the termination date). 
 (d) Termination for Good Reason or Without Cause. The Employment Term and Executive’s employment hereunder may be terminated (i) by Executive for Good Reason and (ii) by the Company “Without Cause” (that is,
other than for Disability or Cause in accordance with Section 7(b) or 7(c)). “Good Reason” shall mean the occurrence, without Executive’s prior written consent, of any of the following events: 
 (A) a substantial reduction of Executive’s duties or responsibilities, or Executive being required to report to any person other than
the Board, provided that, if there is a “Change of Control” (as defined below) and Executive retains similar title and similar authority with the Company or any entity that acquires the Company (or any affiliate or subsidiary of such
entity) following such Change of Control, the parties agree that any change in the title of Executive shall not constitute a significant reduction of Executive’s duties and authorities hereunder; 
 (B) Executive’s job title as an officer of the Company is adversely changed, provided that if there is a Change of Control and
Executive retains similar title and similar authority with the Company or any entity that acquires the Company (or any affiliate or subsidiary of such entity) following such Change of Control, the parties agree that any change in the title of
Executive shall not constitute a significant reduction of Executive’s duties and authorities hereunder; 
  

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 (C) a reduction of Executive’s then Base Salary or annual cash bonus opportunity to
below 75% of Base Salary at target other than that described in Section 4(a); 
 (D) (i) a change in the office or
location in the metropolitan New York City area where Executive is based on the Effective Date of more than thirty (30) miles, which new location is more than thirty (30) miles from Executive’s primary residence in the metropolitan
New York City area; or (ii) following any relocation to the metropolitan Delhi, India area pursuant to Section 3(a), a change in the office or location in the metropolitan Delhi, India area where Executive is then based of more than thirty
(30) miles, which new location is more than thirty (30) miles from Executive’s primary residence in the metropolitan Delhi, India area; provided, however, for the sake of clarity, that any relocation pursuant to Section 3(a) from
the metropolitan New York City area to the metropolitan Delhi, India area (or from the metropolitan Delhi, India area to the metropolitan New York City area) shall not result in Good Reason hereunder, so long as the resulting office or location is
within the thirty (30) mile parameters described in clause (i) or (ii) hereof, as applicable, when compared to the immediately preceding office or location where Executive was based in such metropolitan area (assuming for such purpose
that there had been no intervening relocation pursuant to Section 3(a) between the metropolitan New York City area and the metropolitan Delhi, India area); or 
 (E) a breach by the Company of any material term of the Employment Agreement; 
 provided that, a termination by Executive with Good Reason shall be effective only if, within 30 days following Executive’s first becoming aware of the
circumstances giving rise to Good Reason, Executive delivers a “Notice of Termination” (as defined in Section 7(i)) for Good Reason by Executive to the Company, and the Company within 15 days following its receipt of such notification
has failed to cure the circumstances giving rise to Good Reason. For the avoidance of doubt, a request by the Board that Executive or his family relocate to India shall not constitute Good Reason. 
 Notwithstanding anything in this Section 7(d) to the contrary, if Executive assumes or has assumed the title and/or duties of chief financial officer of the
Company, any subsequent relinquishment or elimination of such title and/or duties shall not constitute Good Reason hereunder. 
  

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 (e) Severance. If Executive’s employment hereunder is terminated pursuant to
Section 7(d) hereof, Executive will be entitled to: 
 (i) 24 months of Base Salary plus payment of Executive’s
actual bonus earned for year of termination as determined in accordance with the Company’s annual incentive plan as if Executive had been employed for the full year in which Executive terminates, such Base Salary to be paid ratably for 24
months in accordance with Company’s existing payroll practices (such payment to begin as soon as practicable, and in all events within 30 days following termination of employment) and such actual bonus, if any, to be paid ratably over the
remaining period and number of Base Salary payments hereunder, commencing after the Compensation Committee has determined such bonus amount (such payment to begin as soon as practicable, and in all events within 30 days following the determination
of the bonus amount), provided that if amounts paid under this Section 7(e) are determined to be “deferred compensation” within the meaning of Section 409A of the Code (“Section 409A”) and Executive is deemed to
be a “specified employee” as defined in Section 409A(a)(2)(B)(i) of the Code and the regulations issued thereunder relating to deferred compensation, then any payments due hereunder in respect of the six months immediately following
Executive’s termination of employment shall be paid in a single lump sum on the Company’s first regularly scheduled pay date occurring more than six months following Executive’s termination of employment; 
 (ii) continuation of life insurance coverage provided pursuant to Section 6(a) for the eighteen (18) month period following
termination of employment so long as such continuation of coverage is permitted under the Company’s benefit plans and applicable law; provided, that, such coverage shall terminate if Executive commences employment with a
subsequent employer within the applicable period; and 
 (iii) the benefits set forth in Section 7(g). 
 (f) Termination Following a Change of Control. Notwithstanding anything in this Section 7 to the contrary, if Executive’s
employment is involuntarily terminated by the Company without Cause or Executive terminates employment for Good Reason within 12 months following a Change of Control, then Executive shall receive, in complete satisfaction of all payments (including
severance) due under this Agreement, (i) Base Salary relating to Executive’s services prior to the termination date and (ii) a lump sum payment of $999,000. The payments referred to in subclauses (i) and (ii) of this
Section 7(f) shall be paid as soon as practicable, and in all events within thirty (30) days following termination of employment; provided that if the Change of Control does not satisfy the definition of a change in the ownership or
effective control of a corporation, or a change in the ownership of a substantial portion of the assets of a corporation pursuant to Section 409A, then the payment referred to in subclause (ii) of this Section 7(f) will be paid
ratably for 24 months in accordance with Company’s existing payroll practices, such payment to begin as soon as practicable, and in all events within 30 days following termination of employment; provided, further, that if amounts paid under
this Section 7(f) are determined to be “deferred compensation” within the meaning of Section 409A and Executive is deemed to be a “specified employee” as defined in Section 409A(a)(2)(B)(i) of the Code and the
regulations issued thereunder 

  

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relating to deferred compensation, then the payment referred to in subclause (i) of this Section 7(f) and the first of the ratable payments
referred to in subclause (ii) of this Section 7(f) shall be paid on the Company’s first regularly scheduled pay date occurring more than six months following Executive’s termination of employment (the remainder of the ratable
payments referred to in subclause (ii) to continue to be paid ratably in accordance with such subclause). In addition, upon a termination of employment described in this Section 7(f), (iii) Executive shall receive the benefits set
forth in Section 7(g) and (iv) all unvested equity awards granted on or after the Effective Date and held by Executive shall become fully vested and, in the case of stock options, exercisable. 
 (g) Post-Termination Health Insurance. Upon the cessation of Executive’s employment hereunder for any reason other than
termination by the Company for Cause or a voluntary termination by Executive (in each case under Section 7(c)), the Company shall pay on behalf of Executive and his eligible dependents the cost of continued coverage under the Company’s
group health plan for eighteen (18) months following such cessation in accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), subject to such persons making timely elections to continue such
coverage pursuant to COBRA and satisfaction of COBRA’s eligibility requirements and other terms, conditions, restrictions and exclusions. Should COBRA coverage become unavailable due to the Company’s failure to maintain a group health
plan, the Company shall reimburse Executive and his dependents for the premium cost of comparable coverage obtained directly by Executive and his dependents for the balance of the 18 month period. The Company’s obligation to pay such premium
costs shall cease at the time Executive (or, in the case of Executive’s death, his eligible dependents) become eligible for comparable health benefits from another employer. For purposes of clarity, it is understood that the preceding two
sentences shall apply if Executive’s employment ceases upon the natural expiration of the Employment Term as described in Section 2. In addition, if Executive elects COBRA coverage following the cessation of his employment for any reason
whatsoever (whether paid by the Company or Executive), the Company will, at the request of Executive, facilitate and use commercially reasonable efforts to cause the conversion of his Company group health insurance coverage to an individual policy
upon the expiration of Executive’s eligibility for COBRA coverage; provided that the foregoing is not intended to be a guarantee by the Company that such conversion will be available to Executive at that time. Any payment made to Executive
under Section 7(e)(ii) or under this Section 7(g) (to the extent such payments are treated as “deferred compensation” within the meaning of Section 409A) shall be paid as soon as practicable following submission of the
claims but in any event not later than the third calendar year following the calendar year in which Executive’s “separation from service” (as defined in Section 409A) occurs. 
 (h) As used in this Agreement, “Change of Control” means 
 (i) the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act (a
“Person”) of beneficial ownership (within the meaning of Rule 13d 3 promulgated under the Exchange Act) of more than 50% (on a fully diluted basis) of either (A) the then outstanding shares of Common Stock, 

  

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taking into account as outstanding for this purpose such Common Stock issuable upon the exercise of options or warrants, the conversion of convertible stock
or debt, and the exercise of any similar right to acquire such Common Stock (the “Outstanding Company Common Stock”) or (B) the combined voting power of the then outstanding voting securities of the Company entitled to vote
generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this Plan, the following acquisitions shall not constitute a Change of Control: (I) any acquisition
by the Company or (i) any entity that directly or indirectly is controlled by, controls or is under common control with the Company and (ii) to the extent provided by the Compensation Committee, any entity in which the Company has a
significant equity interest (“Affiliate”) on the Effective Date, (II) any acquisition by any employee benefit plan sponsored or maintained by the Company or any Affiliate, (III) any acquisition by one or more of Oak Hill Partners
L.P., FTVenture, any affiliate of either of them, or any group of which either of them is a member (a “Designated Holder”) , (IV) any acquisition which complies with clauses (A), (B) and (C) of subsection (v) of this
Section 7(h), or (V) in respect of an Award held by a particular Participant, any acquisition by the Participant or any group of persons including the Participant (or any entity controlled by the Participant or any group of persons
including the Participant); 
 (ii) individuals who, on the date hereof, constitute the Board (the “Incumbent
Directors”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming a director subsequent to the date hereof, whose election or nomination for election was approved by a vote of at least
two-thirds of the Incumbent Directors then on the Board (either by a specific vote or by approval of a registration statement of the Company describing such person’s inclusion on the Board, or a proxy statement of the Company in which such
person is named as a nominee for director, without written objection to such nomination) shall be an Incumbent Director; provided, however, that no individual initially elected or nominated as a director of the Company as a result of an actual or
threatened election contest with respect to directors or as a result of any other actual or threatened solicitation of proxies or consents by or on behalf of any person other than the Board shall be deemed to be an Incumbent Director; 
 (iii) the dissolution or liquidation of the Company; 
 (iv) the sale, transfer or other disposition of all or substantially all of the business or assets of the Company; or 
  

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 (v) the consummation of a reorganization, recapitalization, merger, consolidation,
statutory share exchange or similar form of corporate transaction involving the Company that requires the approval of the Company’s stockholders, whether for such transaction or the issuance of securities in the transaction (a “Business
Combination”), unless immediately following such Business Combination: (A) more than 50% of the total voting power of (x) the entity resulting from such Business Combination (the “Surviving Company”), or
(y) if applicable, the ultimate parent entity that directly or indirectly has beneficial ownership of sufficient voting securities eligible to elect a majority of the members of the board of directors (or the analogous governing body) of the
Surviving Company (the “Parent Company”), is represented by the Outstanding Company Voting Securities that were outstanding immediately prior to such Business Combination (or, if applicable, is represented by shares into which the
Outstanding Company Voting Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the same proportion as the voting power of the Outstanding Company Voting Securities
among the holders thereof immediately prior to the Business Combination, (B) no Person (other than any employee benefit plan sponsored or maintained by the Surviving Company or the Parent Company, or one or more Designated Holders), is or
becomes the beneficial owner, directly or indirectly, of more than 50% of the total voting power of the outstanding voting securities eligible to elect members of the board of directors of the Parent Company (or the analogous governing body) (or, if
there is no Parent Company, the Surviving Company) and (C) at least a majority of the members of the board of directors (or the analogous governing body) of the Parent Company (or, if there is no Parent Company, the Surviving Company) following
the consummation of the Business Combination were Board members at the time of the Board’s approval of the execution of the initial agreement providing for such Business Combination. 
 (i) Notice of Termination. No termination of Executive’s employment by the Company or by Executive (other than Termination
pursuant to Section 7(a)) shall be effective until written notice of termination (the “Notice of Termination”) has been given to the other Party hereto in accordance with Section 8. In the case of a termination by the
Company without Cause, such notice shall be given not less than fifteen (15) business days prior to the termination date. If the Board concludes it is prepared to immediately terminate Executive for Cause (other than due to the conviction of
Executive of a felony), the Board shall put Executive on a leave of absence during which time Executive will forfeit his title and responsibilities but will be provided with an opportunity to appear before the Board, at Executive’s election, to
present arguments and evidence on his own behalf, at a date and time specified in the Notice of Termination. Following such hearing, the Board, by an affirmative vote of a majority of its members (not to include Executive if Executive is a member of
the Board), shall make a final determination that the action or inaction by Executive specified in the Notice of Termination constitutes or does not constitute termination for Cause. If the Board determines that Executive is not terminated for
Cause, the Board shall take any reasonable steps necessary to reinstate Executive in his prior position, with the same title and responsibilities that Executive held prior to receiving the Notice of Termination for Cause described herein.

  

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 (j) Date of Termination. “Date of Termination” shall mean
(i) if Executive’s employment is terminated by Executive’s death, the date of Executive’s death, (ii) if Executive’s employment is terminated for Cause in accordance with Section 7(c), the date specified in the
Notice of Termination, (iii) if Executive’s employment is terminated due to the expiration of the Employment Term as described in Section 7(c), the date that the Employment Term expires, and (iv) if Executive’s employment is
terminated for any other reason, fifteen (15) business days after the date on which a Notice of Termination is delivered. 
 Section 8.
Notice. All notices or other communications hereunder shall be in writing and shall be deemed to have been duly given (a) when delivered personally, (b) on the second business day following the day such notice or other communication
is sent, for next-day or next-business-day delivery, by a nationally-recognized overnight courier, (c) when sent by facsimile if the date of delivery is a business day, or otherwise on the next business day, or (d) on the fifth day
following the date of deposit in the United States mail if sent first class, postage prepaid, by registered or certified mail; provided that in the case of delivery in accordance with Section 7(c) or 7(d), a written acknowledgment of receipt is
obtained. 
 The address for any notice to Executive shall be: 
 Rohit Kapoor 
 8 Cornell Street 

Scarsdale, NY 10583 
 with
a copy to: 
 Thelen Reid & Priest LLP 
 875 Third Avenue 
 New York, NY 10022 
 Main: (212) 603-2000 
 Fax:
(212) 603-2001 
 Attn: Bruce Rich, Esq. 
 to the Company: 
 ExlService Holdings, Inc. 
 350 Park Avenue, 10th Floor 
 New York, NY
10022 
 Fax: (212) 892-1534 
 Attn: General Counsel 
  

 13 

 and to Oak Hill: 
 Oak Hill Partners Inc. 
 One Stamford Plaza

 263 Tresser Blvd., 15th Floor 
 Stamford, CT 06901 
 Fax: (203) 328-1651 
 Attention: Steven Gruber 
 with a copy to: 
 Paul, Weiss, Rifkind, Wharton & Garrison LLP 
 1285 Avenue of the Americas 
 New York, New York 10019-6064 
 Fax: (212) 492-0237 
 Attention:
Lawrence I. Witdorchic, Esq. 
 with a copy to: 
 Oak Hill Capital Management, Inc. 
 Park Avenue Tower 
 65 East 55th Street, 32nd Floor 
 New York, NY 10022 
 Fax: (212) 758-3572 
 Attention: John
R. Monsky, Esq. 
 or such other address or fax number as such Party has designated by notice given to the other Party in accordance with this Section.

 Section 9. Covenant Not To Compete. 
 (a) Executive acknowledges that the services he is to render to the Company are of a special and unusual character, with a unique value to the Company, the loss of which cannot adequately be compensated by damages or
an action at law. In view of the unique value to the Companies of the services of Executive for which the Company has contracted hereunder, because of the confidential information to be obtained by, or disclosed to, Executive as herein above set
forth, and as a material inducement to the Company to enter into this Agreement and to pay to Executive the compensation stated herein and any additional benefits stated herein, and other good and valuable consideration, Executive covenants and
agrees that during the Employment Term and during the “Non-Competition Period,” as defined below, Executive shall not, directly or indirectly, enter into the employment of, tender consulting or other services to, acquire any interest in
(whether for Executive’s own account as an individual proprietor, or as a partner, associate, stockholder, officer, director, trustee or otherwise), or otherwise participate in any business that competes, directly or indirectly, with any of the
Companies (i) in the same lines of business in the business process outsourcing industry that the Companies are engaged in at the time Executive’s employment is terminated, or 

  

 14 

 
if Executive is an employee of any of the Companies, at the time Executive is accused of being in competition with any of the Companies pursuant to this
Section 9; (ii) in the provision of the business processes provided by the Companies at the time Executive’s employment is terminated, or if Executive is an employee of any of the Companies, at the time Executive is accused of being
in competition with any of the Companies pursuant to this Section 9; (iii) in the provision of business processes that any of the Companies have taken substantial steps to provide to customers at the time Executive’s employment is
terminated, or if Executive is an employee of any of the Companies, at the time Executive is accused of being in competition with any of the Companies pursuant to this Section 9; or (iv) in the provision of business processes that any of
the Companies are in the process of marketing to existing or potential clients that any of the Companies are taking measures to retain as clients of the Companies, at the time Executive’s employment is terminated, or if Executive is an employee
of any of the Companies, at the time Executive is accused of being in competition with any of the Companies pursuant to this Section 9, during the Employment Term. Executive and the Company acknowledge that clauses (ii), (iii) and
(iv) in the immediately preceding sentence shall not be deemed or interpreted to narrow or otherwise limit the scope of clause (i) of such sentence. Notwithstanding the foregoing, in the event Executive voluntarily terminates employment
other than for Good Reason, Executive shall be restricted from engaging in any business processing outsourcing business for one year from the Date of Termination. For purposes of this Section 9, the “Non-Competition Period”
shall be the one year period following Executive’s termination of employment for any reason; provided that, notwithstanding the above, if Executive’s employment is terminated at the end of the Employment Term following the Company’s
giving Executive a notice of its desire not to extend the Employment Term in accordance with Section 2, the Non-Competition Period, and this Section 9(a), shall not apply following such termination of employment, unless, in the sole
discretion of the Company, the Company continues to pay Executive the Base Salary in effect at the time of termination for one year following termination. 
 (b) Notwithstanding the foregoing, nothing in this Agreement shall prevent (A) the purchase or ownership by Executive of up to two percent (2%) in the aggregate of any class of securities of any entity if
such securities (i) are listed on a national securities exchange or (ii) are registered under Section 12(g) of the Exchange Act; or (B) the direct or indirect ownership of securities of a private company, provided
that, Executive is only a passive investor in such company (having no role, duty or responsibility whatsoever in the management, operations or direction of such company) and owns no more than five percent (5%) in the aggregate of any
securities of such company. If Executive’s employment with the Company is terminated for any reason, and after such termination Executive wishes to take any action, including without limitation, taking a position with another company, which
action could potentially be deemed a violation of this Section 9, Executive shall have the right, after providing the Board with all relevant information, to request a consent to such action from the Board which consent shall not be
unreasonably withheld. The Board shall respond to Executive’s request by granting or denying such consent within not more than 30 calendar days from the date the Company receives written notice of such request from Executive. If Executive
disagrees with the Board’s decision relating to the consent, then a third-party arbitrator (the “Arbitrator”) shall be appointed within five (5) days of the 

  

 15 

 
date Executive notifies the Company of his disagreement, and the third party Arbitrator shall be instructed to make a determination with respect to whether
Executive’s action would constitute a legally valid and enforceable violation of Section 9 within not more than thirty (30) days of his appointment and such determination shall be binding on all of the parties hereto. The cost of the
Arbitrator shall be borne by the Company; provided, however, if the Arbitrator’s determination is inconsistent with Executive’s position, then the cost of the Arbitrator shall be borne by Executive. 
 Section 10. Confidential Information. 
 (a) Protection of Confidential Information. Executive acknowledges that the Companies have a legitimate and continuing proprietary interest in the protection of their confidential information and that they have
invested substantial sums and will continue to invest substantial sums to develop, maintain and protect such confidential information. During the Employment Term and at all times thereafter, Executive shall not, except with the written consent of
the Company or in connection with carrying out Executive’s duties or responsibilities hereunder, furnish or make accessible to anyone or use for Executive’s own benefit any trade secrets, confidential or proprietary information of any of
the Companies, including their business plans, marketing plans, strategies, systems, programs, methods, employee lists, computer programs, insurance profiles and client lists; provided, however, that such protected information shall
not include either information required to be disclosed under law or pursuant to an order of a court, governmental agency, arbitration panel or other person or body with apparent jurisdiction or information known to the public or otherwise in the
public domain without violation by Executive of this Section 10. 
 (b) Property of the Company. All memoranda, notes,
lists, records and other documents or papers (and all copies thereof) relating to the Companies, whether written or stored on electronic media, made or compiled by or on behalf of Executive in the course of Executive’s employment, or made
available to Executive in the course of Executive’s employment, relating to any of the Companies, or to any entity which may hereafter become an affiliate thereof, but excluding Executive’s personal effects, rolodexes and similar items,
shall be the property of the Company, and shall, except as otherwise agreed by the Company, be delivered to the Company promptly upon the Termination of Executive’s employment with the Company or at any other time upon request. 
 Section 11. Non-Disparagement; Non-Solicit. 
 (a) During the Employment Term and for a period of one (1) year thereafter Executive shall make no unfavorable, disparaging or negative comment, remark or statement, whether written or oral (a
“Disparaging Statement”), about the Company or any of its affiliates, officers, directors, shareholders, consultants, or employees; provided that he may give truthful testimony before a court, governmental agency, arbitration panel,
or similar person or body with apparent jurisdiction and may discuss such matters in confidence with Executive’s attorney(s) and other professional advisors. During the foregoing period, the Company and its officers and directors (acting

  

 16 

 
in their capacity as officers and directors of the Company) shall make no Disparaging Statement about Executive; provided that any officer or director may
give truthful testimony before a court, governmental agency, arbitration panel, or similar person or body with apparent jurisdiction and may discuss such matters in confidence with their or the Company’s attorney(s) and other professional
advisors. 
 (b) For one year following termination of Executive’s employment (i) Executive may not solicit,
encourage, or induce or attempt to solicit, encourage, or induce any (A) current employee, marketing agent, or consultant of any of the Companies to terminate his or her employment, agency, or consultancy with any of the Companies or any
(B) prospective employee with whom the Company has had discussions or negotiations within six months prior to Executive’s termination of employment not to establish a relationship with any of the Companies, (ii) induce or attempt to
induce any current customer to terminate its relationship with any of the Companies or (iii) induce any potential customer with whom the Company has had discussions or negotiations within six months prior to Executive’s termination of
employment not to establish a relationship with any of the Companies. 
 Section 12. Miscellaneous. 
 (a) Mitigation. Executive shall have no duty to mitigate his damages by seeking other employment and, should Executive actually
receive compensation from any such other employment, the payments required hereunder shall not be reduced or offset by any other compensation except as specifically provided herein. 
 (b) Limitation of Shareholder Liability. Executive hereby acknowledges that the shareholders of Holdings are entitled to limited
liability under the laws of the State of Delaware applicable to corporations and as such Executive shall not, nor shall he have the right to, make any claim against the shareholders of Holdings relating to any contest or dispute under this
Agreement. 
 (c) Waiver. No provision of this Agreement may be modified, waived or discharged unless such waiver,
modification or discharge is agreed to in a writing signed by Executive and an officer of the Company (other than Executive) duly authorized by the Board to execute such amendment, waiver or discharge. No waiver by either party to this Agreement at
any time of any breach of the other party of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior
or subsequent time. 
 (d) Successors and Assigns. This Agreement shall be binding on and inure to the benefit of the
successors and assigns of the Company. 
 (e) Governing Law. The validity, interpretation, construction and performance
of this Agreement shall be governed by the laws of the State of New York, without regard to the conflict of laws principles of such State which could cause the application of the laws of any other state. 
  

 17 

 (f) Consent to Jurisdiction and Service of Process. Any claim for
injunctive relief pursuant to Sections 9, 10, 11 or 12(k) under this Agreement shall be instituted exclusively in any Federal court of the Southern District of New York or any state court located in New York County, State of New York, and each
party agrees not to assert, by way of motion, as a defense or otherwise, in any such claim, any claim that it is not subject personally to the jurisdiction of such court, that the claim is brought in an inconvenient forum, that the venue of the
claim is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court. Each party further irrevocably submits to the jurisdiction of such court in any such claim. Any and all service of process and any other
notice in any such claim shall be effective against any party if given personally or by registered or certified mail, return receipt requested, or by any other means of mail that requires a signed receipt, postage prepaid, mailed to such party as
herein provided. Nothing herein contained shall be deemed to affect the right of any party to serve process in any manner permitted by law or to commence legal proceedings or otherwise proceed against any other party in any other jurisdiction.

 (g) Dispute Resolution. Any dispute, controversy or other claim, other than claims solely for injunctive relief
pursuant to Section 9, 10, 11 or 12(k), arising out of or relating to (i) this Agreement, or (ii) Executive’s employment with the Company shall be resolved by binding confidential arbitration, to be held in New York, New York in
accordance with the Commercial Arbitration Rules of the American Arbitration Association. Judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Executive agrees that it shall not bring any
claim or action against the Company’s directors, officers or shareholders and shall not be entitled to any punitive, special or consequential damages in connection with any such claim, dispute or controversy. In connection with any claim or
action brought by any of the Companies or any of their respective directors or, officers or shareholders against Executive, no such person shall be entitled to any punitive, special or consequential damages. 
 (h) Assignment. This Agreement is a personal contract, and the rights and interests of Executive hereunder may not, during the
Employment Term, be sold, transferred, assigned, pledged or hypothecated. This Agreement may not be assigned by the Company other than to a company (i) which, directly or indirectly controls, is controlled by or is under common control with the
Company, or which is a successor in interest to substantially all of the business operations of the Company, and (ii) which assumes in writing or by operation of law, at the time of the assignment, the Company’s obligation to perform this
Agreement; and (iii) which has sufficient capitalization to enable it to meet its assumed obligation to perform this Agreement. 
 (i) Severability of Invalid or Unenforceable Provisions. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement,
which shall remain in full force and effect. 
  

 18 

 (j) Counterparts. This Agreement may be executed in one or more counterparts, each
of which shall be deemed to be an original but all of which together will constitute one and the same instrument. 
 (k)
Injunctive Relief; Damages. Executive acknowledges that damages for any breach of Sections 9 through 11 of this Agreement may be difficult to determine and inadequate to remedy the harm which may be caused and, therefore, consents that
such Sections may be enforced by temporary or permanent injunction. Such injunctive relief shall be in addition to and not in place of any other remedies available at law or equity, including damages. Should any court or tribunal decline to enforce
such sections of this Agreement on the basis that such provisions are overly restrictive of activities of Executive as to time, scope or geography, such provisions shall be deemed to be modified to restrict Executive’s activities to the maximum
extent of time, scope and geography which such court or tribunal shall find enforceable, and such provisions shall be so enforced. 
 (l) Entire Agreement. This Agreement sets forth the entire agreement of the Companies and Executive in respect of the subject matter contained herein and supersedes all prior agreements (including, but not limited to, the Current
Employment Agreement as in effect prior to the Effective Date), promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of either party to this Agreement
hereto and any prior agreement of the parties hereto in respect of the subject matter contained herein. 
 (m)
Beneficiaries/References. Executive shall be entitled, to the extent permitted under any applicable law, to select and change a beneficiary or beneficiaries to receive any compensation or benefit hereunder following Executive’s death by
giving the Company written notice thereof. In the event of Executive’s death or a judicial determination of Executive’s incompetence, reference in this Agreement to Executive shall be deemed, where appropriate, to refer to Executive’s
beneficiary, estate or other legal representative. 
 (n) Withholding; Tax Equalization. The Company shall be entitled
to withhold from any payment due to Executive hereunder any amounts required to be withheld by applicable tax laws or regulations. If relevant, the Company shall provide Executive such additional compensation, if any, as is reasonably necessary to
ensure that Executive’s total compensation, benefits and bonus payments have the same after-tax value as if Executive were employed in and subject to taxation only in the United States; provided, that, the Company shall reimburse
Executive for the amount of the overall increase in his tax liabilities resulting solely from his work-related travel to India; provided, further, however, that if Executive is required to relocate at the request of the Company
from his residence to India, the Company shall reimburse Executive for the amount of the overall increase in his tax liabilities (without duplication of any reimbursement pursuant to the immediately preceding proviso) as a result of his relocation
to India and the fact that he is subject to Indian taxation. These equalization payments shall include a tax restoration payment that takes into account the impact of the reimbursements. Executive agrees that if he receives a refund or other credit
on his taxes, he shall repay the Company any amount in excess of the amount necessary such that the after tax amount retained by Executive is equal to the amount he would have retained had he remained employed in the United States. 
  

 19 

 (o) Registration of Shares. The Company shall, when eligible, register on Form S-8
or such other appropriate form the resale of shares of Common Stock owned by Executive pursuant to the grant or exercise of equity compensation awards held by Executive on the Effective Date or underlying equity compensation awards granted to
Executive during the Employment Term. This is in addition to any registration rights Executive has under any other contract with the Company 
 (p) Directors’ Slate. Executive’s name shall be included on the Company’s recommended slate of directors for each stockholders meeting during the Employment Term at which Executive is eligible
for reelection to the Board; provided, however, that Executive agrees to consult in good faith with the Board regarding Executive’s continued service on the Board if and to the extent the Board determines that prevailing standards of corporate
governance provide that it is not appropriate for an officer of the Company to serve on the Board. Executive agrees to tender resignation from the Board upon termination of employment. In the case of Executive’s termination for any reason other
than by the Company for Cause, if and only if Executive continues to own 4% of the Common Stock, Executive may, subject to the approval of the Board in its sole reasonable determination, designate an individual to be included on the Company’s
recommended slate of directors for the next stockholders’ meeting at which directors of the Company are to be elected; provided that this sentence shall cease to apply on and following the time that any equity securities of the Company become
listed for trading on a national securities exchange or other quotation or trading system. 
 (q) Legal Fees. Upon the
execution of this Agreement, the Company agrees to pay on behalf of Executive all legal fees and expenses incurred by Executive in connection with the negotiation, drafting, and execution of this Agreement which, when aggregated with any similar
fees incurred by Vikram Talwar and paid by the Company in connection with the negotiation, drafting and execution of an employment agreement for Mr. Talwar with the Company, do not exceed $25,000. 
 (r) Indemnification. The Company shall indemnify and defend Executive to the fullest extent permitted by the law of the State of
Company’s incorporation and the By-Laws and Certificate of Incorporation of the Company with respect to any claims that may be brought against Executive arising out of any action taken or not taken in Executive’s capacity as an officer or
director of the Company; provided, that, the Company shall not indemnify and defend Executive with respect to any claims brought against Executive relating to intentional or willful acts of the Executive, or to other acts as to which
indemnification is not allowable under applicable law. In addition, Executive shall be covered, in respect of Executive’s activities as an officer or director of the Company, by the Company’s Directors and Officer liability policy or other
comparable policies obtained by the Company’s successors, to the fullest extent permitted by such policies. Notwithstanding the foregoing, the Company’s responsibilities under this Section 12(r) shall not apply to any claims raised
against 

  

 20 

 
Executive after the sixth anniversary of his termination of employment. It is intended that any indemnification payment or advancement of expenses made
hereunder shall be exempt from Section 409A. Notwithstanding the foregoing, if any indemnification payment or advancement of expenses made hereunder shall be determined to be “deferred compensation” within the meaning of
Section 409A, then (i) the amount of the indemnification payment or advancement of expenses during one taxable year shall not affect the amount of the indemnification payments or advancement of expenses during any other taxable year,
(ii) the indemnification payments or advancement of expenses must be made on or before the last day of Executive’s taxable year following the year in which the expense was incurred, and (iii) the right to indemnification payments or
advancement of expenses hereunder is not subject to liquidation or exchange for another benefit. 
 (s)
Section 409A. 
 (i) The parties intend that any amounts payable hereunder that could constitute “deferred
compensation” within the meaning of Section 409A will be compliant with Section 409A. In light of the uncertainty as of the date hereof with respect to the proper application of Section 409A, the Company and Executive agree to
negotiate in good faith to make amendments to this Agreement as the parties mutually agree are necessary or desirable to avoid the imposition of taxes or penalties under Section 409A. Notwithstanding the foregoing, Executive shall be solely
responsible and liable for the satisfaction of all taxes and penalties that may be imposed on or for the account of Executive in connection with this Agreement (including any taxes and penalties under Section 409A), and neither the Company nor
any affiliate shall have any obligation to indemnify or otherwise hold Executive (or any beneficiary) harmless from any or all of such taxes or penalties. 
 (ii) Notwithstanding anything in this Agreement to the contrary, in the event that Executive is deemed to be a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) and Executive is not
“disabled” within the meaning of Section 409A(a)(2)(C), no payments hereunder that are “deferred compensation” subject to Section 409A shall be made to Executive prior to the date that is six (6) months after the
date of Executive’s “separation from service” (as defined in Section 409A) or, if earlier, Executive’s date of death. Following any applicable six (6) month delay, all such delayed payments will be paid in a single lump
sum on the earliest permissible payment date. For purposes of Section 409A, each of the payments that may be made under Section 4(c)(i) are designated as separate payments for purposes of Treasury Regulations
Section 1.409A-1(b)(4)(i)(F), 1.409A-1(b)(9)(iii) and 1.409A-1(b)(9)(v)(B). 
  

 21 

 (iii) For purposes of this Agreement, with respect to payments of any amounts that are
considered to be “deferred compensation” subject to Section 409A, references to “termination of employment” (and substantially similar phrases) shall be interpreted and applied in a manner that is consistent with the
requirements of Section 409A. 
 [Remainder of Page Left Blank Intentionally; Signature Page Follows] 
  

 22 

 IN WITNESS WHEREOF, the parties to this Agreement have executed this Employment and
Non-Competition Agreement as of the date first above written. 
  

			
	EXLSERVICE HOLDINGS, INC.
		
	By:	 	/s/ Vikram Talwar
	Name:	 	Vikram Talwar
	Title:	 	Executive Chairman
	
	ROHIT KAPOOR
		
	By:	 	/s/ Rohit Kapoor
	Name:	 	Rohit Kapoor

 [Signature Page to Employment Agreement] 

 Schedule 3(b) 
 Outside Activities 
  

	1.	Care Solutions LLC 

 Rohit is a partner of
this nurse recruitment company. Rohit and his spouse – Shikha will have 50% ownership in this company. No material time is presently spent on this company by Rohit, it being primarily a project of his wife. Going forward, Rohit expects to play
no more than an advisory role for this company. 
  

	2.	Arrowhead Advisors LLC 

 Rohit is a partner
of this investment advisory company. Rohit and his spouse – Shikha have a 100% ownership of this company. No material time is presently spent on this company by Rohit, it being primarily a passive advisory company for long time Private Banking
clients of Rohit. Going forward, Rohit does not anticipate spending more than a few days a year on the affairs of this company. 

 Schedule 6 
 Benefits for Rohit Kapoor 
 1. The Executive may make use of and be reimbursed for First Class travel
on company business. Additionally, once each calendar year during the Employment Term during which Executive spends at least 50% of the calendar year in India, the Company will provide, at its expense, round-trip, business-class air travel between
the United States and India for Executive and his immediate family. 
 2. The Company shall at its expense maintain a term life insurance
policy on the life of the Executive in the face amount of Five Hundred Thousand Dollars (US$500,000) payable to such beneficiaries as Executive may designate; provided that, the Executive does not have any special health risks or
conditions that would cause the rate of such life insurance plan to be substantially higher than the average rate for an individual of the same age as the Executive. 
 3. The Company shall (i) maintain one automobile for use by the Executive and shall pay the costs of an automobile for the Executive in the United States, with lease or loan payments not to exceed $1,200 per
month; (ii) pay directly or shall reimburse the Executive for the cost of insurance and fuel for such automobile; and (iii) provide the Executive with an automobile (Mercedes Benz) in India with a driver and shall pay for all costs,
including insurance, repairs and fuel (such fuel payments shall cover the cost of fuel for two automobiles as the Executive uses his own car from time to time for Company business purposes) at a cost not to exceed $12,000 per annum. 
 4. Being that the Company has determined that Executive should have personal security while in India, Executive and his family shall be provided with
personal security while in India and paid for by the Company consistent with practices and procedures. 
 5. The Company shall pay the
initial and yearly membership fees for The Belvedere Club at The Oberoi Hotel. The fee shall be paid directly to the club. The Company shall provide certain items of furniture, telecom lines and computer hardware necessary to maintain a
home office for Executive. 
 For the avoidance of doubt, the benefits provided pursuant to paragraphs 3, 4 and 5 of this Schedule 6 shall be provided
without regard to whether Executive spends at least 50% of the calendar year in India. 
 6. Once each year during the Term during which the
Executive resides in US, the Company will provide, at its expense, round-trip, business-class air travel between the US and India for the Executive and his immediate family. In any given calendar year, Executive shall either receive the air travel
benefit provided in paragraph 1 of this Schedule 6 or the air travel benefit provided in this paragraph 6, but not both. 

 7. During Executive’s travel to India in connection with Company business while Executive’s
domicile is in the United States, Executive shall be provided a $150.00 per diem billeting allowance for each night Executive does not stay in a hotel. 
 8. The Company shall pay for the annual dues for a luncheon club in India for Executive’s benefit amounting to US$1,000 per annum and the sum may be increased marginally year to year. The club membership is in
Executive’s name (and paid for personally) and will remain as such as the initial fee is avoided. 
 9. This paragraph 9 shall apply
only in the event that Executive and his immediate family have relocated their residence to India. In such event, then during the period of Executive’s and his immediate family domicile outside the United States in connection with Company
business, the Company shall pay Executive an education allowance equal to the private school tuition of Executive’s children through secondary school; provided, however, that such education allowance shall not cover any costs associated with
attendance at any post-secondary institution of higher learning.Framework Agreement between Centrica plc, the Company and ExlService.com

 Exhibit 10.37 
 The registrant is claimed confidential treatment with regard to portions of this exhibit. This filing omits confidential information (denoted by asterisks) submitted separately to the Division of Corporation Finance. 
 DATED                                      
                                         
                                         
2005 
  

	 	(1)	CENTRICA PLC (for and on behalf of its Group Companies) 

  

	 	(2)	EXLSERVICE HOLDINGS, INC. 

  

	 	(3)	EXL SERVICE.COM (INDIA) PRIVATE LIMITED 

  
  
 FRAMEWORK AGREEMENT FOR 

 THE PROVISION OF SERVICES 
  
  
 AGREEMENT REFERENCE: 

 CEN/2005/9464/BU 
 Eversheds LLP 
 Cloth Hall Court 
 Infirmary Street 
 Leeds LS1 2JB 
 Tel: +44 (0) 113 243 0391 
 Fax: +44 (0) 113 245 6188 

 CONTENTS 
  

					
	 Clause
	  	 	  	Page
	 1
	  	DEFINITIONS AND INTERPRETATION	  	1
	 2
	  	CONDITIONS PRECEDENT	  	14
	 3
	  	TERM OF AGREEMENT AND OF INDIVIDUAL WORK CONTRACTS	  	15
	 4
	  	NO EXCLUSIVITY	  	17
	 5
	  	FORMATION OF WORK CONTRACTS	  	17
	 6
	  	APPOINTMENT	  	18
	 7
	  	TRANSITION PLAN	  	19
	 8
	  	ACCEPTANCE PROCESS	  	21
	 9
	  	DELAYS IN TRANSITION PLAN AND REMEDIES FOR DELAYS	  	23
	 10
	  	SERVICE PROVISION	  	24
	 11
	  	CONTRACTOR & CLIENT WARRANTIES	  	27
	 12
	  	KPIS AND SERVICE LEVELS	  	30
	 13
	  	CO-OPERATION WITH THIRD PARTIES	  	31
	 14
	  	CHANGE CONTROL	  	32
	 15
	  	REGULATORY COMPLIANCE	  	33
	 16
	  	CONTRACT MANAGEMENT/KEY STAFF	  	34
	 17
	  	MANAGEMENT AND SUPERVISION	  	36
	 18
	  	MONITORING/AUDIT/ACCESS RIGHTS	  	37
	 19
	  	PRICING	  	39
	 20
	  	THIRD PARTY SERVICES	  	40
	 21
	  	PAYMENT	  	40
	 22
	  	***	  	42
	 23
	  	INTELLECTUAL PROPERTY RIGHTS	  	42
	 24
	  	DOCUMENTATION/RECORDS	  	47
	 25
	  	INSURANCE	  	47
	 26
	  	INDEMNITIES AND LIMITATIONS UPON LIABILITY	  	49
	 27
	  	DISASTER RECOVERY	  	52
	 28
	  	SUSPENSION OF SERVICES	  	52
	 29
	  	FORCE MAJEURE	  	56
	 30
	  	***	  	58
	 31
	  	DISPUTE RESOLUTION	  	61
	 32
	  	TERMINATION	  	63
	 33
	  	EFFECT OF TERMINATION	  	66
	 34
	  	***	  	68
	 35
	  	EMPLOYEES	  	69
	 36
	  	CONFIDENTIALITY	  	70

					
	 37
	  	ANNOUNCEMENTS/PUBLICITY	  	74
	 38
	  	ENTIRE AGREEMENT	  	74
	 39
	  	NOTICES	  	74
	 40
	  	WAIVER	  	76
	 41
	  	INVALIDITY AND SEVERABILITY	  	76
	 42
	  	ASSIGNABILITY	  	77
	 43
	  	GROUP BENEFIT	  	78
	 44
	  	SUBCONTRACTING	  	78
	 45
	  	NO PARTNERSHIP	  	78
	 46
	  	AMENDMENT	  	79
	 47
	  	LAW AND JURISDICTION	  	79
	 48
	  	COUNTERPARTS	  	79
	 49
	  	NON-SOLICITATION	  	79

			
	 THIS AGREEMENT (the “Agreement”) is made on
	  	2005

 BETWEEN 
  

	(1)	Centrica plc (registered as a public limited company in England under number 3033654) whose registered office is at Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD
(“Client”) (for and on behalf of Client Group); 

  

	(2)	ExlService Holdings, Inc., a Delaware corporation with its principal office at 350 Park Avenue, 10th Floor, New York, NY 10022, USA ( “EXL US”); and

  

	(3)	exl Service.com (India) Private Limited, an Indian private limited company with its principal office at 48 Sector 58, Noida, UP 201 301, India (“EXL India”).

 BACKGROUND 
  

	(A)	Client wishes to enter into a relationship for the provision from time to time by a third party contractor of certain services to Client. 

  

	(B)	Through a process of competitive tender the Contractor has indicated its willingness to provide services of the type required by Client. The Contractor comprises EXL US and EXL
India which are collectively to provide the Services. 

  

	(C)	The Contractor has agreed to provide certain initial services to Client in accordance with the terms of this Agreement, by entering into a series of Work Contracts with Client (as
defined below). 

 OPERATIVE PROVISIONS 
  

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	In this Agreement the following expressions shall have the following meanings unless the context otherwise requires: 

  

			
	“Acceptance”	  	acceptance for each Testable Output, which shall occur on the day on which an Acceptance Certificate has been issued for such Testable Output
		
	“Acceptance Certificate”	  	a confirmation (which can be in electronic format) to be issued by Client in relation to a Testable Output when the Acceptance Test(s) has been completed, and all the relevant Acceptance
Criteria met or waived, for that Testable Output

  

 1 

			
	“Acceptance Criteria”	  	the criteria to be used to assess each Testable Output, as set out in Annex 1 of each Work Contract
		
	“Acceptance Tests”	  	such tests to be carried out by Client in respect of the Testable Outputs as are set out in the Transition Plan contained in Annex 1 of each Work Contract
		
	“Affiliate”	  	any Subsidiary or Holding Company of a company and any Subsidiary of any such Holding Company. “Subsidiary” and “Holding Company” shall each have the meaning set out in
section 736 of the Companies Act 1985 (as amended)
		
	“Agreed Documents”	  	 (a)     those documents relating to this Agreement, and to Work Contracts generally, contained in the separate bundle
entitled “Agreed Documents Relating to the Framework Agreement for the provision of Services”, such bundle comprising the documents and items listed in Schedule 17 and being signed or initialled by an authorised representative
of each party and dated the same date as this Agreement, as may be varied from time to time by invoking the Change Control Procedure; and

		
		  	 (b)     those documents relating to specific Work Contracts contained in a separate bundle entitled “Agreed
Documents relating to Work Contract Reference:”, such bundle being signed by an authorised representative of each party and which is dated with the same date as the relevant Work Contract, as may be varied from time to time, by invoking the
Change Control Procedure

  

 2 

			
	“Annex”	  	an annexure to a Work Contract
		
	“Anticipated Services”	  	back office processes associated with customer transfers (including meter reading disputes), billing, metering, customer payment processing, Homemove and account maintenance, and electricity
pre-payment
		
	“Assets”	  	any item of equipment, infrastructure, network, hardware and software, premises and furniture which the Contractor uses to perform the Services
		
	“Authorised Representative”	  	the relevant individual having responsibility for the matter in question for each of Client and the Contractor as detailed in paragraph 7 of Schedule 6
		
	“BCP”	  	the business continuity plan designed to ensure the Contractor is able to continue to provide the Services in the event of certain specified disruptive incidents, based on the BCP principles
being set out in Schedule 8
		
	“Business Day”	  	a day (other than a Saturday or Sunday) on which commercial banks are open for deposit taking in London
		
	“Change Control Procedure”	  	the procedure set out in Schedule 4
		
	“Change Notices”	  	those notices issued pursuant to the Change Control Procedure
		
	“Charges”	  	the Implementation Charges and the Service Charges
		
	“Client Competitor”	  	***

  

 3 

			
	“Client Group”	  	any company which on the date of this Agreement or during the term of the Agreement is, in relation to Client, its Affiliate
		
	“Client Materials”	  	the software, hardware and other materials which are to be provided by Client to the Contractor pursuant to this Agreement, together with any other software, hardware and other materials which
are provided or made available by Client and/or its sub-contractors to the Contractor for the purposes of this Agreement
		
	“Confidential Information”	  	will mean and include:
		
		  	 (a)     any information of a confidential nature, including documents, letters, plans, diagrams, sketches, drawings,
photographs, models, specifications, software, programs, data and any other material bearing or incorporating any information relating to the disclosing party and/or its know-how, business, affairs, customers, contractors and/or assets disclosed to
the receiving party, whether in writing, orally or by any other means, by the disclosing party or any third party acting on its behalf, whether before, after or on the Effective Date including for the avoidance of doubt the information contained in
the CD containing the Contractor’s pricing model and formulae included in the Agreed Documents;

		
		  	 (b)     in respect of Client only, analyses, compilations, studies, notes and other documents prepared by the
Contractor which contain or otherwise reflect or are generated from any such information specified in paragraph (a) above; and

  

 4 

			
		  	 (c)    information of a confidential nature obtained by observation during visits to
premises,
  
 but will exclude any part of such information which (and which can be shown
by documentary evidence):

		
		  	 (i)      is or becomes available in the public domain without breach of this Agreement;

		
		  	 (ii)     a party can prove is lawfully in its possession free of any restriction as to its use or disclosure before
the date of the disclosure;

		
		  	 (iii)   is or was received by the Client on the one hand and EXL US and/or EXL India on the other from any third party not
acting on behalf of the other of them where such third party has the right to disclose such information; or

		
		  	 (iv)    subject to clauses 36.2 and 36.3, Authorised Representatives of the parties have agreed in
writing may be disclosed

		
	“Continuation Period”	  	a period following the date of termination of a Work Contract during which Client may elect to continue to receive certain Services, as more specifically described in clause 33.7

		
	“Contractor”	  	each and/or both (as appropriate) of EXL US and EXL India
		
	“Contractor Competitor”	  	***

  

 5 

			
	“Contractor Covenant” or “Contractor Covenants”	  	each (and all, as appropriate) of the covenants contained in Schedule 13
		
	“Contractor Software”	  	Software owned or licensed by the Contractor or its Affiliates (excluding the Client Materials)
		
	“Contract Period”	  	in relation to a Work Contract, the period from the Contract Term Start Date until the date of termination of such Work Contract, in accordance with the terms of this Agreement or such Work
Contract)
		
	“Contract Term Start Date”	  	the date upon which a Work Contract comes into force, such date being specified in each Work Contract
		
	“Contract Year”	  	the period of 12 months commencing on the Effective Date and thereafter each consecutive period of 12 months, and in the final Contract Year the period between the last anniversary of
the Effective Date and the date of expiry or termination of this Agreement
		
	“Control”	  	shall have the meaning set out in section 416 of the Income and Corporation Taxes Act 1988
		
	“Data Protection Agreement”	  	the data protection agreement signed by the parties, substantially in the form set out in Exhibit 1
		
	“Defects Notice”	  	a notice given under clause 7.6 using the pro forma set out in Schedule 10
		
	“Deliverable”	  	a defined output specified in the Transition Plan in Annex 1 of each Work Contract, necessary in order for the Contractor to deliver the Transition Plan in accordance with its
terms
		
	“Dependency” or “Dependencies”	  	any or all of the specific actions to be taken by Client as are set out in this Agreement or the relevant Work Contract

  

 6 

			
	“Direct Costs”	  	has the meaning given to such term in clause 22.2
		
	“Dispute Resolution Procedure”	  	the procedure for the resolution of disputes contained in clause 31
		
	“Effective Date”	  	the date of commencement of this Agreement, being the date upon which all of the conditions set out in clause 2.1 are satisfied
		
	“Emoluments”	  	all and any wages, salaries, bonuses, commissions, PAYE, national insurance contributions and other periodic outgoings (including pensions contributions) (or equivalent payment obligations in a
jurisdiction other than England) attributable to the employment of any employees
		
	“Employment Liabilities”	  	compensation, awards, losses, costs, claims, fines, penalties, damages, expenses (including legal and other professional expenses) or liabilities relating to the employment/termination of
employment
		
	“Exit Plan”	  	an exit plan based on the principles contained in Schedule 9
		
	“Failure”	  	a failure of the Contractor Covenants, as described in paragraph 3.2 of
Schedule 13
		
	“FOIA”	  	the Freedom of Information Act 2000
		
	“Force Majeure”	  	has the meaning given to it in clause 29.4
		
	“Good Industry Practice”	  	using standards, practices, methods and procedures which comply with all applicable Regulations and utilising that degree of skill and care, which would reasonably and ordinarily be expected
from a skilled and experienced person engaged in a similar type of undertaking
		
	“Grouped Work Contract”	  	a Work Contract that is stated to be grouped with one or more other Work Contracts for certain purposes, as set out in such Work Contract, which may include grouping for the purpose of
transition, volume forecasting and/or gain share

  

 7 

			
	“Hardware”	  	any and all computer, telecommunication and network equipment, cabling and any physical asset which relies in any respect on computer hardware or other information technology (whether embedded
or not) used in the provision of the Services
		
	“Implementation”	  	the process of transferring the provision of the Services (or some of them) from Client to the Contractor
		
	“Implementation Charges”	  	the charges payable by Client to the Contractor for the Contractor’s provision of the Implementation Services, as contained in each Transition Plan in Annex 1 of each Work Contract

		
	“Implementation Period”	  	the period between the Contract Term Start Date specified in a Work Contract and Acceptance of the final element of Implementation for the Services the subject of such Work
Contract
		
	“Implementation Services”	  	the services to be provided as part of a Transition Plan as set out in Annex 1 of each Work Contract
		
	“Indian Regulations”	  	all laws and legislation of India applicable to the Services and/or the output from the Services
		
	“Initial Term”	  	the minimum term specified in each Work Contract
		
	“Inscope Change”	  	has the meaning given to it in Schedule 4
		
	“Intellectual Property Rights”	  	patents, trade marks, design rights (whether registrable or otherwise), applications for any of the foregoing, copyrights, database rights, know-how, trade or business names, and other similar
rights or obligations whether registrable or not in England and/or India

  

 8 

			
	“Key Milestone”	  	a key stage in Implementation (whether a Deliverable or an element of the Implementation Services), each Key Milestone being an indicator of whether the Contractor is reaching the required
levels of progress within the timescales set out in the Transition Plan contained in Annex 1 of each Work Contract and collectively indicating the likelihood of the Contractor being able to deliver the Transition Plan in accordance with its terms

		
	“Key Staff”	  	the individuals to be appointed by the Contractor to the roles specified in Schedule 5 and Annex 8 of each Work Contract and any Staff appointed as assistant manager
grade or above
		
	“KPI”	  	the Service Levels described as key performance indicators in Annex 5 of each Work Contract
		
	“Liquidated Damages”	  	liquidated damages payable by the Contractor to Client for failing to achieve Key Milestones during the Implementation Period, as specified for each Work Contract in accordance with the process
in Schedule 2 and more precisely detailed in Annex 1 of each Work Contract
		
	“Minimum Term”	  	the minimum term of this Agreement, being the period from the Effective Date until the date which is three years from the Service Commencement Date of the first Work Contract under which the
Contractor is to supply Services to the Client
		
	“Month”	  	a calendar month (and “Monthly” shall be construed accordingly)
		
	“Outscope Change”	  	has the meaning given to it in Schedule 4

  

 9 

			
	“party”	  	any of Client, EXL US and EXL India
		
	“parties”	  	the Client on the one hand and EXL US and EXL India on the other
		
	“Permitted Contractor”	  	has the meaning given to it in clause 44.1
		
	“Premises”	  	the site(s) from which the Contractor provides the Services to Client as specified in a Work Contract and any other site (or any part thereof) agreed from time to time by the parties in writing
to have Services performed from it for Client
		
	“Pre-Process training”	  	includes induction to the Contractor and Client, introduction to the utilities industry in the UK and includes training on Data Protection Act and Disability Discrimination Act
		
	“Pricing Model”	  	the menu of prices and methodology for translating such menu of prices into individual Work Contracts, as is contained in Schedule 7
		
	“Process Methodology”	  	the process and methodology to agree the specific terms of a Work Contract, set out in Schedule 2
		
	“Process Training”	  	includes training on systems which are used to deliver the processes
		
	“Project Materials”	  	any and all works of authorship, products and materials developed, written or prepared by the Contractor specifically for the purposes of this Agreement including the process and related
documents produced by the Contractor in accordance with the baseline analysis agreement and all computer programs, reports, studies, data, diagrams and charts and all reports and other outputs generated by the Contractor as part of its obligations
(excluding those prepared for internal use), save as otherwise agreed in writing by the parties

  

 10 

			
	“ProMPT”	  	the Contractor’s process management and performance tracking system known as ProMPT
		
	“Regulations”	  	UK Regulations and Indian Regulations
		
	“Regulatory Authority”	  	all relevant governmental, statutory or regulatory bodies in England and/or India or any other competent authority or entity (including, in respect of UK Regulations, the Financial Services
Authority and the Information Commissioner) as the same may be replaced from time to time having responsibility for the regulation or governance of activities which include all or some of the Services or the use or application of the output from the
Services
		
	“Service Charges”	  	the charges payable by Client to the Contractor for the provision of the Services, as set out in Annex 6 of each Work Contract
		
	“Service Commencement Date”	  	in respect of each Work Contract the date upon which the Contractor first starts to perform the Services associated with a Service Element under that Work Contract
		
	“Service Credits”	  	service credits payable by the Contractor to Client in the circumstances and for the sums specified in Annex 5 of each Work Contract
		
	“Service Element”	  	individual components of the Services, as are specified in Annex 2 of each Work Contract
		
	“Service Level” and “Service Levels”	  	any of, or all of, the service levels set out in Schedule 3 and Annex 5 and Annex 7 of each Work Contract
		
	“Services”	  	the services to be performed from time to time by the Contractor as identified in each Work Contract then in force
		
	“Shared Resources”	  	Staff who are not dedicated to performance of the Services, being only those identified as such in Schedule 5 and Annex 8 of each Work Contract

  

 11 

			
	“Software”	  	any and all computer programs and where appropriate licences to use the same, including all modules, routines and subroutines of such programs, used in the provision of the
Services
		
	“Staff”	  	those employees of the Contractor and employees of any Permitted Contractor (in each case whether full time, part time or temporary) delivering the Services from time to time
		
	“Testable Output”	  	each output to be tested in relation to Deliverables and Implementation Services as expressly referred to as a ‘Testable Output’ in Annex 1 of a Work
Contract
		
	“Transition Plan”	  	the plan, including the Deliverables, Implementation Services and Key Milestones, contained in Annex 1 (together with the terms and conditions relating to these), that governs the
way in which the Contractor must prepare for and carry out the migration of the Services from Client to the Contractor
		
	“Transition Project Plan”	  	the plan which sets out the process to manage the transition of the Services to the Contractor
		
	“UK Regulations”	  	all laws and legislation of England applicable to the Services and/or the output from the Services (including, where applicable, the Data Protection Act 1998 and all rules, directions,
regulations and recommendations issued by Regulatory Authorities which are applicable to the Services and in the case of recommendations treated as binding by Client)
		
	“VAT”	  	value added tax imposed by the Value Added Tax Act 1994

  

 12 

			
	“Warranty” and “Warranties”	  	any of, or all of, the warranties contained in clause 11
		
	“Work Contract”	  	a work contract agreed and signed by Client and the Contractor in relation to Services based on the pro forma set out in Schedule 15
		
	“Work Contract Year”	  	in respect of each Work Contract, the period of 12 months commencing on the Service Commencement Date, thereafter each consecutive period of 12 months, and in the final Work Contract
Year the period between the last anniversary of the Service Commencement Date and the date of expiry or termination of the Work Contract
		
	“Year 2000 Compliant”	  	the definition of Year 2000 Compliant as set out in “Amplification of the Definition and Rules” in the British Standards Institution document DISC PD 2000-1:1998

  

	1.2	Schedules 1 to 18 form an integral part of this Agreement and references to this Agreement include the Schedules to this Agreement. 

  

	1.3	References in this Agreement to clauses or Schedules are to clauses of, or Schedules to, this Agreement. For the avoidance of doubt references in a Work Contract to Annexes shall be
to the Annexes of that Work Contract. 

  

	1.4	A reference to this Agreement shall include all Work Contracts entered into pursuant to this Agreement in force from time to time. 

  

	1.5	The headings used in this Agreement are for convenience only and do not affect the construction or interpretation of this Agreement. 

  

	1.6	References to a statute or statutory provision include that provision as from time to time modified or re-enacted or consolidated whether before or after the date of this Agreement
and any subordinate legislation made under it. 

  

	1.7	Unless the context otherwise requires, words importing the singular shall include the plural and vice versa and reference to any gender shall include the other genders.

  

 13 

	1.8	Words importing individuals or persons shall include companies, corporations, firms, unincorporated bodies of persons and partnerships. 

  

	1.9	The words “include”, “including”, “includes”, “in particular” or any similar expression are to be construed as if they were immediately
followed by the words “without limitation”. 

  

	1.10	The obligations of EXL US and EXL India under this Agreement are joint and several. However, complete fulfilment by EXL India of obligations imposed on “the Contractor”
under this Agreement will discharge EXL US of those same obligations and vice versa. Where any consent or agreement is required from the Contractor, EXL US and/or EXL India pursuant to this Agreement the consent or agreement (as appropriate) of
their Authorised Representative (where appropriate) and otherwise either of EXL US or EXL India shall constitute the consent or agreement (as appropriate) of both of them. Where there is any requirement on Client to provide information, support or
carry out activities in relation to the Contractor, and the Agreement is silent as to which entity or person such requirement shall be provided, the fulfilment of that requirement to one of EXL US and EXL India shall constitute fulfilment of that
requirement as regards both of them without further enquiry being necessary by Client. 

  

	1.11	If there is any ambiguity between the terms of a Work Contract, the annexes to a Works Contract, clauses 1 to 49 of this Agreement and the Schedules, the
following order of priority shall prevail: 

  

	 	    1.11.1  	the Work Contract; 

  

	 	    1.11.2  	the annexes to a Works Contract; 

  

	 	    1.11.3  	clauses 1 to 49 of this Agreement; 

  

	 	    1.11.4  	the Schedules; and 

  

	 	    1.11.5  	the Agreed Documents. 

  

	2.	CONDITIONS PRECEDENT 

  

	2.1	The obligations of each party under this Agreement are conditional upon and shall not come into effect until the Contractor has delivered an executed copy of the Data Protection
Agreement dated the same date as this Agreement. 

  

 14 

	2.2	Notwithstanding clause 2.1, the following clauses shall have effect immediately upon the date of signature of this Agreement by all the parties: 1 (to the extent
applicable), 2, 32, 36, 37, 38, 47 and 48. 

  

	2.3	If the condition in clause 2.1 has not been satisfied or waived by Client by August 31, 2005 Client may, at no cost, terminate this Agreement immediately by serving written
notice upon the Contractor. 

  

	3.	TERM OF AGREEMENT AND OF INDIVIDUAL WORK CONTRACTS 

  

	3.1	This Agreement shall commence on the Effective Date and, subject to clauses 32 and 33.7, shall continue for the Minimum Term. 

  

	 	    3.1.1  	No later than six months prior to the expiry of the Minimum Term, Client may notify the Contractor in writing that it wishes to extend the Agreement for a further period of 12
months from the date of expiry of the Minimum Term (such period being the “First Extension Period”). 

  

	 	    3.1.2  	No later than six months prior to the expiry of the First Extension Period Client may notify the Contractor in writing that it wishes to extend the Agreement for a further period of
12 months from the date of expiry of the First Extension Period (such period being the “Second Extension Period”). 

  

	 	    3.1.3  	For the avoidance of doubt, extension of this Agreement pursuant to clauses 3.1.1 and/or 3.1.2 shall extend the term of any Work Contract unless Client advises
the Contractor otherwise in writing in relation to any Work Contract. 

  

	3.2	The expiry or termination of this Agreement shall have the following effect in relation to any Work Contract in force immediately prior to the expiry or termination of this
Agreement: 

  

	 	    3.2.1  	Save where clause 3.2.3 applies, if Client gives notice in writing to the Contractor prior to the date of expiry or termination of this Agreement (the “Termination
Date”) that it wishes any Work Contract that would otherwise then be in force to terminate on the Termination Date any such Work Contract shall terminate on the Termination Date contemporaneously with this Agreement.

  

	 	    3.2.2  	Save where clause 3.2.3 applies, if Client does not give any notice of the type envisaged in clause 3.2.1 then this Agreement shall not terminate on the Termination
Date but shall stay in full force and effect (other than providing for the entering into of any new Work Contract) until expiry or termination of the last Work Contract remaining in force following the Termination Date. 

  

 15 

	 	    3.2.3  	Where the Contractor terminates this Agreement either pursuant to clause 32.4 or, pursuant to clause 29.3.2 in circumstances where all the Services then being provided
under this Agreement are terminated pursuant to that clause, the termination of this Agreement shall terminate any Work Contracts outstanding at the date of such termination. 

  

	3.3	Any Work Contract shall commence on the Contract Term Start Date and, subject to clauses 3.1, 3.2 and 33.7 and elsewhere as specified in this
Agreement, shall continue for the Initial Term and thereafter until terminated by at least three months’ written notice from any party. 

  

	3.4	Notwithstanding the above, Client may terminate a Work Contract within its Initial Term provided that Client serves three (3) months’ prior written notice upon the
Contractor. If Client exercises its right to terminate under this clause 3.4 in respect of a Work Contract, and in relation to each Work Contract so terminated, Client shall pay within 30 days of the date the Work Contract terminates:

  

	 	    3.4.1  	the sum of £385 per FTE (as defined in the relevant Work Contract) engaged in the provision of the Services on a dedicated basis under and in accordance with that Work
Contract and this Agreement as at the date of the termination of the Work Contract; and 

  

	 	    3.4.2  	the unrecovered part of any infrastructure and/or set-up costs specific to the Work Contract (such costs to be amortised on a straight line basis over the original Contract Period
of the Work Contract) and the Contractor’s reasonable demobilisation expenses (being employee severance costs (in such amounts as set out in the appropriate sections of the Agreed Documents) or, if less, the cost of the Contractor in relocating
employees to another site, together with technology and telecoms decommissioning). The Contractor shall mitigate all such costs to the extent reasonable. Any alteration to the Contractor’s separation policy set out in the Agreed Documents in
relation to Staff shall not, unless and to the extent required by Indian Regulations, lead to or give rise to any increase in the severance costs payable by Client under this clause. If Client exercises its rights under this clause the Contractor
shall give notice to Staff at such time, consistent with the separation policy, as Client shall require. 

  

 16 

	3.5	Notwithstanding the above, if the Contractor Covenants are in Failure, Client may terminate this Agreement and all Work Contracts under it on three (3) months prior written
notice without paying any compensation pursuant to clause 3.4 and, if it wishes, exercise its rights under Schedule 14 in which case this Agreement and all Work Contracts shall terminate in accordance with the terms of that Schedule.

  

	3.6	For the avoidance of doubt a Work Contract may be signed on behalf of the Contractor by an Authorised Representative of either EXL India or EXL US. 

  

	4.	NO EXCLUSIVITY 

  

	4.1	Save as Client may expressly agree in writing in a Work Contract, this Agreement grants no exclusivity to the Contractor over any services or gives any commitment to take a specific
volume or minimum volume of the services which Client wishes to procure, whether or not such services are similar to or the same as those supplied by the Contractor to Client pursuant to a current Work Contract. 

  

	4.2	None of the parties has any commitment to enter into any Work Contract with the other parties during the term of this Agreement. 

  

	5.	FORMATION OF WORK CONTRACTS 

  

	5.1	This Agreement sets out the basic uniform terms of each Work Contract and establishes the overarching principles and processes that will apply to the provision of Services by the
Contractor to Client. In respect of the Anticipated Services, Work Contracts shall strictly adhere to the principles contained in the Schedules and the Annexes to the draft Work Contract contained in Schedule 15, save only to the extent
not applicable to the relevant Services or if Client agrees in writing to an express variation. 

  

	5.2	Whenever Client, or any member of Client Group requires, and the Contractor agrees to provide services, a Work Contract substantially similar to the form set out in
Schedule 15 shall be agreed and signed by Authorised Representatives of Client and the Contractor and Client and the Contractor will, acting in good faith, follow the Process Methodology. It is acknowledged by the parties that for
Services, other than Anticipated Services, the terms contained in the Annexes to the Work Contract may need to be varied insofar as the draft provisions are not relevant to such Services. 

  

	5.3	To facilitate the commercial agreement of Work Contracts, Client and the Contractor have agreed the Pricing Model and recognise that, unless agreed in writing to the contrary by
Client, whenever applicable this will be used to determine the appropriate pricing for any Work Contract. Accordingly in relation to any Work Contract Client and the Contractor, acting in good faith and in an open and transparent manner, shall:

  

	 	    5.3.1  	save where agreed to the contrary with Client in writing, apply the Pricing Model to determine the prices properly payable for the Services required under a particular Work
Contract; and 

  

 17 

	 	    5.3.2  	unless agreed in writing to the contrary by Client in writing, adhere strictly to the terms of this Agreement. 

  

	5.4	Where the Pricing Model is not applicable to specific Services the subject of a proposed Work Contract, the parties shall negotiate the charges to be applicable to the new Work
Contract in good faith (and in an open and auditable manner), based always on the underlying principles of the Pricing Model. 

  

	5.5	To facilitate the application of the Agreement the Contractor agrees that it will: 

  

	 	    5.5.1  	respond to a Client request for Services on the basis set out in this Agreement; and 

  

	 	    5.5.2  	promptly provide such explanations and information as Client shall require to demonstrate that it is complying in all respects with the terms of this Agreement including this
clause 5. 

  

	5.6	The provisions of a Work Contract shall override and exclude any other conditions which the Contractor may seek to impose or any contrary or additional terms and conditions as
contained in or referred to in any other documents and/or correspondence from the Contractor in respect of the services which are the subject of the Work Contract. 

  

	6.	APPOINTMENT 

  

	6.1	During the Contract Period of any Work Contract the Contractor shall provide and deliver: 

  

	 	    6.1.1  	the Implementation Services; and 

  

	 	    6.1.2  	the Services, 

 to Client in accordance with and subject to
the terms in such Work Contract and this Agreement. 
  

 18 

	7.	TRANSITION PLAN 

 Implementation Services 

  

	7.1	During the Implementation Period of a Work Contract the Contractor shall provide the Implementation Services and the Deliverables in accordance with the relevant Transition Plan
(including provision of any training modules contained in such Transition Plan, in the manner set out in Annex 10 of each Work Contract) and the technical solution and design obligations set out in Schedule 3 and
Annex 7 of the relevant Work Contract. 

  

	7.2	The Contractor shall carry out the Implementation Services and deliver the Deliverables so that the relevant Implementation Services are fully completed, and the Deliverables are
achieved, all to the standard required by this Agreement within the timescales detailed in Annex 1 of the relevant Work Contract and, where parts of the same are Testable Outputs, Acceptance has occurred for such Testable Outputs before
the Service Commencement Date for that Service Element. 

  

	7.3	The Contractor will perform the Implementation Services and deliver the Deliverables so as to minimise possible disruptions to Client and Client’s customers during the
Implementation Period. 

 Right of Inspection 
  

	7.4	Client shall have, during normal business hours and otherwise on reasonable notice, the right (but not so as to unreasonably delay or impede the progress of the Implementation
Services or Deliverables) itself to inspect and view the state and progress of the Implementation Services and Deliverables (including a physical inspection of the Premises, the systems, Software, records, (including employee records) and training
procedures (to ensure compliance with Annex 10 of each Work Contract)) solely to ascertain whether the Transition Plan is being executed in accordance with this Agreement. If reasonably requested by Client, the Contractor shall provide
copies of any documents and reports in relation to the Implementation Services and Deliverables. 

  

	7.5	Client may at any time during the Implementation Period require the Contractor reasonably to cooperate with Client in the inspection, monitoring and testing of the Implementation
Services and Deliverables. 

  

 19 

 Service of Defects Notice 
  

	7.6	If Client (acting reasonably) considers that any Implementation Service or Deliverable has not been or is not being provided in accordance with this Agreement by the Contractor, it
may at any time serve on the Contractor a Defects Notice specifying the relevant defect(s) in the Implementation Services or Deliverables which require remedy together with a reasonable time period for remedying such defects. If following such
remedial period the Contractor remains in breach of any of its obligations under the Implementation Services or in respect of Deliverables, Client may terminate this Agreement in accordance with clause 32.1. For the avoidance of doubt if
Client serves a Defect Notice then Client may not also terminate this Agreement pursuant to clause 32.1 in respect of the same failure until the period given in the Defects Notice for rectification has expired and then only if the
relevant defect has not been rectified. Client agrees that it shall not exercise its right to terminate this Agreement in accordance with this clause 7.6 for a de minimis failure by the Contractor which has led to a Defects Notice being
issued. 

 Effect of Defects Notice 
  

	7.7	Client shall have due regard to any representations made to it by the Contractor concerning any Defects Notice given under clause 7.6. 

  

	7.8	The Contractor shall as soon as practicable and in any event by the date specified by Client and at its own expense take all such measures as shall be necessary to remedy the
defects of the Contractor specified in the Defects Notice. 

  

	7.9	If the Contractor fails to remedy the matter which is the subject of a Defects Notice (the “Defect”) by the expiry of the time period specified in the Defects
Notice then Client may suspend those Service Elements, or parts thereof, which are affected by the Defects Notice pursuant to clause 28, or may terminate this Agreement for breach in accordance with clause 32.1.1.

  

	7.10	Client’s rights under clauses 7.6 to 7.9 shall be without prejudice to any other rights or remedy Client may have. 

 Consolidation Period 
  

	7.11	 Following the first Service Commencement Date for any Work Contract there shall be a 90 day consolidation period during which time the Contractor shall monitor
the performance under the relevant Work Contract but, save as set out in clause 7.13, 

  

 20 

	 	 
in relation to which period no claim shall be made by Client for Service Credits. If during such consolidation period the level of performance under that
Work Contract is not achieving some or all of the applicable Service Levels then Client at its option may issue a notice to the Contractor (a “Consolidation Period Notice”) that it wishes to suspend the Services (either in part or
whole) pursuant to clause 28. If at the end of such consolidation period the level of performance of the relevant Work Contract fails to achieve some or all of the Service Levels then Client may serve upon the Contractor a notice to
terminate the relevant Work Contract pursuant to clause 32.2.1. Client agrees that it shall not exercise its right to terminate this Agreement in accordance with this clause 7.11 for a de minimis failure by the Contractor
which has led to a Consolidation Period Notice being issued. In addition, if for any Work Contract, there is a Service Element for which the Implementation Period extends beyond the 90 day consolidation period specified in this clause then for that
Service Element only the consolidation period shall be the planned date for completion of Implementation for that Service Element plus seven days. 

  

	7.12	In the event that Client terminates a Work Contract in accordance with clause 7.11, the Contractor shall take such steps as are necessary to return the Services to Client in
accordance with clause 33 and the Exit Plan. Without prejudice to the parties’ rights and remedies arising from any termination of a Work Contract, and as set out in clause 33 and the Exit Plan, the Contractor shall pay its own
costs and charges necessarily and properly incurred in migrating the Services to Client or Client’s nominated third party supplier. 

  

	7.13	Notwithstanding the above, during the Implementation Period Client will monitor the Service Level dealing with “available resource” (ie the number of full time equivalent
employees) set out in Annex 5 of each Work Contract and, if the available resource does not meet the related KPI, Client shall be entitled to claim Service Credits from the Contractor in accordance with Annex 5 of such Work
Contract. 

  

	8.	ACCEPTANCE PROCESS 

 Acceptance Tests and
Acceptance Criteria 
  

	8.1	Testable Outputs for Deliverables and Implementation Services are to be subject to Acceptance Tests in accordance with the Acceptance Criteria. 

  

	8.2	The provisions of Annex 1 of each Work Contract shall determine how the Acceptance Tests and Acceptance Criteria are to be agreed, determined and carried out for
Implementation Services and Deliverables. 

  

 21 

 Client Representations 
  

	8.3	The Contractor shall have due and proper regard to any representations made by Client during or regarding Client’s consideration of any Testable Output against the relevant
Acceptance Criteria and any defects, errors or items to be resolved, improved, amended, varied or completed for the relevant Acceptance Criteria to be met. 

 Issue of Acceptance Certificate 
  

	8.4	Provided that Client, acting reasonably, is satisfied in relation to any Testable Output that: 

  

	 	    8.4.1  	all Acceptance Criteria relating to the same have been met; 

  

	 	    8.4.2  	any incomplete part of the Testable Output (a) will not impact upon the Contractor’s ability to perform the relevant Service Element in accordance with this Agreement and
(b) shall be completed within ten days (or such other period as shall be agreed by the parties) of the issue of the relevant Acceptance Certificate in accordance with the terms of this Agreement; and 

  

	 	    8.4.3  	all documents required to be delivered to Client in relation to that Testable Output in accordance with this Agreement have been provided, 

 Client shall, immediately upon being requested so to do by the Contractor, issue the relevant Acceptance Certificate relating to the Testable Output in
question. 
 Effect of Issue 
  

	8.5	The issue of an Acceptance Certificate in relation to any Testable Output and Acceptance occurring shall confirm acceptance by Client that the relevant Testable Output has met the
relevant Acceptance Criteria. Whilst the issue of an Acceptance Certificate will confirm completion of an element of the Implementation Services, this does not in any other way lessen or affect the obligations of the Contractor under this Agreement
in relation to the Services or signify Client’s approval of the means of delivery of each of the Testable Outputs or Services. 

  

 22 

	9.	DELAYS IN TRANSITION PLAN AND REMEDIES FOR DELAYS 

 Notice of Delay 
  

	9.1	If at any time the Contractor becomes aware that any of the Services (including any Implementation Services and/or Deliverables) will not be, or is unlikely to be, completed
(including any Key Milestone not being delivered in full) in accordance with this Agreement by, or any Acceptance of a Testable Output not been achieved in accordance with any timescales set out in this Agreement (whether or not the delay is caused
by the Contractor, Client or any other reason) the Contractor shall forthwith give notice to Client to that effect specifying: 

  

	 	    9.1.1  	the reason for the delay or likely delay; and 

  

	 	    9.1.2  	an estimate of the likely effect of the delay on the performance of the relevant Services, completion of the relevant Implementation Services, Deliverable or Key Milestone and the
effect on the commencement of the relevant Services (taking into account any measures that the Contractor proposes to adopt to mitigate the consequences of the delay, in accordance with clause 9.3). 

 Supply of Information 
  

	9.2	Following service of a notice by the Contractor pursuant to clause 9.1 the Contractor shall promptly supply to Client any further information relating to the delay which
from time to time: 

  

	 	    9.2.1  	is received by or known to the Contractor; or 

  

	 	    9.2.2  	is reasonably requested by Client (to the extent the Contractor knows of, has the same in its possession at the relevant time or is able to obtain it on reasonable enquiry).

 Duty to Mitigate 
  

	9.3	Each party shall use all reasonable endeavours and take all reasonable steps to mitigate the consequences of any delay which is the subject of a notice pursuant to
clause 9.1 and the Contractor shall implement any steps reasonably requested by Client. This obligation shall be without prejudice to any other rights of Client in respect of, or arising out of, such delay, provided that Client shall not
request steps of the Contractor in respect of any failure which is already the subject of a Defects Notice where any timescale relating to the remedy of such failure in such Defects Notice has not yet expired. For the avoidance of doubt the
Contractor shall not be responsible to the extent that a delay is caused by a Force Majeure which affects only Client’s ability to receive the Services and not the Contractor’s ability to perform the Services, but shall nevertheless
continue to use all reasonable endeavours in accordance with this clause 9.3. Where the Contractor is unable to mitigate its costs as a consequence of Client’s action or inaction, the Contractor shall not be in breach of this
clause 9.3. 

  

 23 

 *** 
  

	9.4	*** 

 *** 
  

	9.5	*** 

 *** 
  

	9.6	*** 

  

	9.7	*** 

  

	10.	SERVICE PROVISION 

  

	10.1	The Contractor shall provide each Service Element from the relevant Service Commencement Date in accordance with: 

  

	 	    10.1.1  	the terms of this Agreement and the relevant Work Contract; 

  

 24 

	 	    10.1.2  	Client’s data security policy as provided to the Contractor in the Agreed Documents and as amended by Client in writing from time to time, provided that where the data security
policy imposes obligations upon the Contractor in addition to those contained in Schedule 18, then the Contractor shall comply with such policy to the extent that it can reasonably do so without necessitating its invocation of the Change
Control Procedure; 

  

	 	    10.1.3  	Good Industry Practice; 

  

	 	    10.1.4  	Client’s reasonable instructions from time to time, provided that if the Contractor reasonably considers such requirements to be an Outscope Change, it may refer such
instructions to the Change Control Procedure; and 

  

	 	    10.1.5  	the information security requirements contained in Schedule 18. 

  

	10.2	The Contractor shall ensure that the Services (including the Implementation Services where applicable) are performed by: 

  

	 	    10.2.1  	members of the Key Staff, where set out in the relevant Work Contracts; and 

  

	 	    10.2.2  	such other members of the Staff who possess suitable skills and experience for the performance of the Services, 

 and that all such Staff (including Key Staff) comply with all the terms of this Agreement applicable to them. 
  

	10.3	The Contractor shall at all times cooperate with and assist Client as Client may properly require in order to enable Client to satisfy its legal and regulatory obligations in
connection with the provision of the Services, provided that if the Contractor reasonably considers such requirements to be an Outscope Change, it may refer such instructions to the Change Control Procedure. In addition, and without prejudice to
clause 36, the Contractor will also make available to Client all relevant information the Contractor maintains for the purpose of complying with its obligations under this Agreement, each Work Contract and the Data Protection Agreement and
which is requested by Client solely to comply with its legal and regulatory obligations. 

  

	10.4	 Client shall perform its obligations identified in this Agreement and each Work Contract. If Client does not perform any such obligation either by the time
specified, or to the reasonable standards required, then the Contractor shall be excused performance of any of its related obligations to the extent that Client’s failure to 

  

 25 

	 	 
perform has given rise to the Contractor’s failure to perform its obligations. This shall, save in the case where injunctive or similar equitable relief
is appropriate, be the Contractor’s sole remedy for a failure by Client to perform its obligations. For the avoidance of doubt any non-payment of or dispute over the amount or payment of the Charges shall not permit the Contractor to cease or
alter the performance of the Services but shall be referred to the Dispute Resolution Procedure. 

  

	10.5 	The Contractor shall perform the Services in accordance with Service Levels set out in Annex 5 of each Work Contract. 

  

	10.6 	Client shall provide to the Contractor volume data and forecasts in the manner, frequency and containing the detail set out in Annex 3 of each Work Contract.

  

	10.7 	Whenever the Contractor provides training to Staff, it shall comply with the training requirements set out in Annex 10 of each Work Contract. 

 

	10.8 	The Contractor shall provide the Services up to the Actual Volume provided by Client fully in accordance with the KPIs and Service Levels applicable to those Actual Volume and the
terms of this Agreement. 

  

	10.9 	Where Client requires Services which are in volume terms outside the scope of the Agreed Tolerance as defined in
 paragraph 24.1 of Annex 3 to Schedule 15
the Contractor shall use its reasonable endeavours, save as otherwise agreed, to provide all such Services which are in excess of the Actual Volumes on equivalent financial terms as the then current Services and in accordance with the terms of this
Agreement and in accordance with the provisions of Annex 3 of each Work Contract. 

  

	10.10 	Client shall provide the Client Materials in a timely manner to enable the Contractor to comply with its obligations pursuant to this Agreement. 

  

	10.11 	Following the prior written consent of Client (not to be unreasonably withheld or delayed), the Contractor’s employees may access such of Client’s premises (subject always
to such supervision as Client believes reasonable) solely to the extent that such access is necessary for the Contractor’s proper performance of the Services. The Contractor’s employees shall comply with all reasonable directions of Client
issued to the Contractor’s employees whilst upon Client’s premises. 

  

	10.12 	 Should the Contractor be unable to perform the Services in accordance with the terms of this Agreement and it reasonably believes that such inability is due to the
actions or inactions of a member of the Client Group, the Contractor shall notify this 

  

 26 

	 	 
to Client without delay and Client and the Contractor agree to use all reasonable endeavours to attempt to resolve any such issue, provided that (save as set
out specifically elsewhere in this Agreement), this clause 10.12 shall not of itself excuse the Contractor from its obligation to provide the Services hereunder, nor shall it of itself place any obligation on Client to carry out any action or
cease any action that are not placed on Client elsewhere in this Agreement. 

  

	10.13 	Save that the Contractor may not make any such reference referred to in this clause 10.13 until Client has made the disclosure to its employees referred to in clause
36.5.3, the Contractor shall, unless and until Client advises otherwise, and subject as stated below, list Client as a reference on all pitches and proposals EXL US or any of its Affiliates makes to undertake business processing services on
behalf of a third party. The Contractor shall advise Client in generic terms whenever it is put forward as a reference provided that it shall only list Client as a reference in relation to pitches or proposals made to Client Competitors with
Client’s prior written consent. 

  

	11.	CONTRACTOR & CLIENT WARRANTIES 

  

	11.1	EXL US warrants and represents to Client that at the Effective Date; 

  

	11.2	EXL US is properly constituted and incorporated under the laws of the State of Delaware and has all necessary authority, power and capacity to enter into this Agreement, the Data
Protection Agreement and, during the term of this Agreement, Work Contracts; 

  

	11.3	EXL US has performed sufficient due diligence to fully satisfy itself in respect of the obligations contained in this Agreement, the Data Protection Agreement and any Services which
may be entered into pursuant to this Agreement on such date; 

  

	11.4	any and all materials, documents, drawings, plans, data, models, financial information or any other information or representations whatsoever provided by EXL US to Client prior to
entering into this Agreement are true, complete and accurate in all respects and are not misleading; 

  

	11.5	all financial information provided to Client is good and consistent with the financial information used in preparing EXL US’s annual audited financial statement; and

  

	11.6	there are no facts or circumstances in relation to the financial position or operation or constitution of EXL US which have not been fully and fairly disclosed to Client in writing
and which, if so disclosed, might reasonably have been expected to affect the decision of Client to enter into this Agreement. 

  

 27 

	11.7	EXL India warrants and represents to Client that at the Effective Date: 

  

	 	    11.7.1  	EXL India is properly constituted and incorporated under the laws of India and has all necessary authority, power and capacity to enter into this Agreement, the Data Protection
Agreement and, during the term of this Agreement, Works Contracts; 

  

	 	    11.7.2  	EXL India has performed sufficient due diligence to fully satisfy itself in respect of the obligations contained in this Agreement, the Data Protection Agreement and any Services
which may be entered into pursuant to this Agreement on such date; 

  

	 	    11.7.3  	that any and all materials, documents, drawings, plans, data, models, financial information or any other information or representations whatsoever provided by EXL India to Client
prior to entering into this Agreement are true, complete and accurate in all respects and are not misleading; and 

  

	 	    11.7.4  	there are no facts or circumstances in relation to the financial position or operation or constitution of EXL India which have not been fully and fairly disclosed to Client in
writing and which, if so disclosed, might reasonably have been expected to affect the decision of Client to enter into this Agreement. 

  

	11.8	The Contractor undertakes to Client that at all times during the Contract Period: 

  

	 	    11.8.1  	it will provide the Services in accordance with each Work Contract and the terms of this Agreement; 

  

	 	    11.8.2  	it has satisfied itself in respect of each Work Contract as to the obligations therein, and the scope and requirements of the Services detailed in each such Work Contract;

  

	 	    11.8.3  	it will comply with the Transition Plan in each Work Contract and achieve all Key Milestones stated in such Transition Plan; 

  

	 	    11.8.4  	it will provide the Services using appropriately qualified, skilled and trained personnel; 

  

	 	    11.8.5  	all Assets are of the requisite quality, adequacy and performance and are appropriate to achieve Client’s requirements set out in this Agreement; 

  

 28 

	 	    11.8.6  	all Hardware or Software (other than software of the Client) used by the Contractor in the performance of this Agreement shall be Year 2000 Compliant; 

  

	 	    11.8.7  	any Contractor Software used by the Contractor in the performance of this Agreement will, to the extent to which it is necessary for the performance of the Services, from such date,
if any, as the United Kingdom enters into Monetary and Economic Union with the EU: 

  

	 	      11.8.7.1  	allow all financial and monetary information and all calculations resulting therefrom to be converted and rounded from Sterling to Euro and Euro to Sterling in accordance with the
rules for conversion and rounding contained in EU Council Regulation 1103/97; and 

  

	 	      11.8.7.2  	be capable of operating in dual currency (and for these purposes “dual currency” means United Kingdom Pounds and the Euro); 

  

	 	    11.8.8  	it shall not knowingly or negligently introduce a software virus, computer worms, software bombs or similar items into the Hardware or Software used by Client or by the Contractor
in the provision of the Services and will not knowingly introduce any logic bombs, Trojan horses or time bombs into the Hardware or Software used by Client or by the Contractor in the provision of the Services; 

  

	 	    11.8.9  	all licences provided or procured by the Contractor for the provision of the Services are adequate and appropriate for the provision of the Services in accordance with this
Agreement; 

  

	 	    11.8.10  	all Permitted Contractors enter into the standard confidentiality agreement with the Contractor in the form of that contained in Schedule 1; 

  

	 	    11.8.11  	all Staff engaged in the provision of the Services will adhere to equivalent confidentiality obligations as are contained in clause 36; and 

  

	 	    11.8.12  	it shall comply with any applicable provisions of the Foreign Exchange Management Act 1999 (“FEMA”) and FEMA regulations made thereunder and ensure that it has all
requisite approvals necessary under FEMA and such FEMA regulations for the operation of this Agreement. 

  

 29 

	11.9	The Client warrants and represents that: 

  

	 	    11.9.1  	it is properly constituted and incorporated under the laws of England and Wales and has all necessary authority, power and capacity to enter into this Agreement, the Data Protection
Agreement and, during the term of this Agreement, Work Contracts; 

  

	 	    11.9.2  	there are no facts or circumstances in relation to the financial position or constitution of Client which have not been fully and fairly disclosed to the Contractor which, if so
disclosed, might reasonably have been expected to affect the decision of the Contractor to enter into this Agreement; 

  

	 	    11.9.3  	all corporate action required by it to authorise the execution and delivery of, and to execute its rights and perform its obligations under this Agreement and all other documents
which are to be executed by it as envisaged by this Agreement have been or will be taken; 

  

	 	    11.9.4  	the Contractor will not be required to purchase any licences or obtain any third party consents to allow it to use Client Materials for the purposes of providing the Services
pursuant to this Agreement; and 

  

	 	    11.9.5  	Client has obtained any governmental consents and/or authorisations necessary under UK Regulations to allow it to contract out the provision of the Services to the Contractor, and
the Contractor will not be required to obtain any separate or further consents and/or authorisation under UK Regulation in order to enable it to provide the Services in the manner contemplated by this Agreement. 

  

	12.	KPIS AND SERVICE LEVELS 

  

	12.1	The Service Levels set the level of performance of each of the Service Elements that are, as a minimum, required of the Contractor. 

  

	12.2	Certain of the Service Levels have a related KPI and in respect of any such Service Level the Contractor will provide the Services in accordance with the KPI.

  

	12.3	The Contractor shall monitor its performance of the Services in accordance with the procedure set out in Schedule 3, Annex 5 and Annex 7 of each Work
Contract and within five days of the end of each month the Contractor shall provide a report to Client of its performance of the Services, in particular identifying its performance of the Services when measured against KPIs.

  

	12.4	If the Contractor fails to achieve KPIs in a month, then, subject to clause 12.5, the default provisions of Schedule 3 and Annex 5 and
Annex 7 of each Work Contract shall apply and Client shall be entitled to claim under the remedies contained in Schedule 3 and Annex 5 and Annex 7 of each Work Contract. 

  

 30 

	12.5	*** 

  

	12.6	If the Contractor fails to achieve a KPI and such failure is caused by a Dependency not being fulfilled, then to the extent that the failure is caused by the Dependency not being
fulfilled the Contractor shall be relieved from any liability in respect of the non-compliance. 

  

	12.7	Client may elect to undertake its own performance monitoring exercise at any stage during the term of this Agreement for any purpose including in order to ensure that the Services
are being provided in accordance with this Agreement. 

  

	12.8	Client’s rights under this clause 12 shall be without prejudice to any other right or remedy which Client may have with regard to any failure to provide the
Services to the levels required by the Service Levels and KPIs. 

  

	13.	CO-OPERATION WITH THIRD PARTIES 

  

	13.1	The Contractor shall co-operate with any sub-contractor of Client which Client notifies to the Contractor from time to time specifying the areas in which cooperation is necessary
and the necessary actions, if any, which the Contractor is requested to undertake. The Contractor may request that the matter be subject to the Change Control Procedure which shall, if applicable, determine what Charge may be made for such
co-operation. If Client requires the Contractor to work with a Contractor Competitor, Client shall procure that the Contractor will not be required to disclose its Intellectual Property Rights or any of its Confidential Information to such
Contractor Competitor, and that such representatives from such Contractor Competitor cannot, without the Contractor’s prior written consent, enter the Premises or give instructions to Staff. 

  

	13.2	Notwithstanding clause 13.1 Client confirms that it is solely responsible for managing and directing its sub-contractors and that the Contractor has no obligation to
manage or direct Client’s sub-contractors. 

  

 31 

	14.	CHANGE CONTROL 

  

	14.1	Either of Client or the Contractor may serve a Change Notice relating to an Inscope Change requiring it (or, if served by the Contractor, requesting) the other of them to make an
Inscope Change to the Services or the Transition Plan in accordance with the Change Control Procedure. 

  

	14.2	Either of Client or the Contractor may serve a Change Notice relating to an Outscope Change upon the other of them requesting changes to the Services or the Transition Plan in
accordance with the Change Control Procedure. 

  

	14.3	Client may serve a notice (a “Regulatory Change Notice”) upon the Contractor requesting the Contractor to make a change to the Services or the Transition Plan
within the timescale specified by Client where there is a change in UK Regulations or a direction by a Regulatory Authority with regard to UK Regulations after the Effective Date. 

  

	14.4	Where Client serves a Regulatory Change Notice, the Contractor shall make and implement such change within the timescale specified in the Regulatory Change Notice. If reasonably
practicable the parties shall determine any necessary variation to the Charges or other terms of this Agreement in accordance with the Change Control Procedure prior to implementation of the change(s) required by the Regulatory Change Notice, but if
this is not reasonably practicable then Client will pay the Contractor all costs and expenses properly and necessarily incurred. Such costs shall be calculated on the Contractor’s standard man day rates as set out in Schedule 7 (the
“Regulatory Costs”), provided that if the capital cost to the Contractor of complying with the Regulatory Change Notice in terms of capital expenditure will exceed ***, then the Contractor shall not be required to incur the
expenditure required to comply with the Regulatory Control Notice unless and until Client agrees in writing to purchase (such purchase to be arranged and managed by the Contractor) such assets to allow the Contractor to utilise the same to provide
the Services. The parties will subsequently use the Change Control Procedure with retrospective effect after implementation of the change(s) required by the Regulatory Change Notice to determine any necessary change to the Charges. To the extent
that capital expenditure is required but does not exceed *** then, unless Client elects to purchase these assets in the manner set out above, the cost of the Contractor funding this prior to the Charges being adjusted to reflect this change will be
included as a specific addition as part of the Change Control Procedure, along with any changes to ongoing costs. 

  

 32 

	14.5	Any changes to Regulations other than changes to or incurrence of UK Regulations shall be at the risk and cost of the Contractor. Without limitation to this the Contractor may serve
a Change Notice where these changes require it to provide Services in a different manner operationally to address the operational impact of the changes. 

  

	15.	REGULATORY COMPLIANCE 

  

	15.1	Subject to clause 14 the Contractor shall carry out the Services in compliance with and shall ensure that all premises, equipment, systems and processes used in the
provision of the Services (other than the Client Materials and all of Client’s equipment and systems) comply (to the extent applicable) with all Regulations in force from time to time. 

  

	15.2	Without prejudice to clause 15.1 the Contractor shall comply with all directions given to it by Client where these are necessary to comply with UK Regulations. The
Contractor shall not be in breach of clause 15.1 if it fully and effectively complies with directions given by Client as to how to comply with a specific UK Regulation and compliance with such directions is not sufficient to comply with
such UK Regulation. 

  

	15.3	If Client directs the Contractor in writing as to a particular methodology or instruction and as a result of the Contractor not complying with Client’s directions Client falls
into breach of UK Regulations then: 

  

	 	    15.3.1  	the Contractor shall at its own cost immediately undertake such measures as Client shall require and which are necessary to establish compliance with the UK Regulations;

  

	 	    15.3.2  	the Contractor shall indemnify Client against any losses, costs, expenses or fines that Client shall incur as a consequence of the Contractor’s non-compliance with
Client’s directions; and/or 

  

	 	    15.3.3  	if the consequence of the Contractor’s breach is material Client may terminate this Agreement, either in respect of part or all of the Service, in accordance with
clause 32.2.1. 

  

	15.4	If the Contractor incurs any additional cost as a result of changes to or incurrence of Regulations following the Effective Date, or as a result of Client’s directions pursuant
to clause 15.2 given after the Effective Date, then the matter shall be addressed in the manner set out in clauses 14.4 and 14.5. 

  

 33 

	16.	CONTRACT MANAGEMENT/KEY STAFF 

  

	16.1	Each of Client and the Contractor shall employ throughout the term of this Agreement and during the Contract Period of each Work Contract an Authorised Representative (or Authorised
Representatives), whose identity will be notified in writing from time to time to the other of them. 

  

	16.2	The Authorised Representatives shall have the full authority to act on behalf of the party which it represents for the purposes of this Agreement or such other additional purposes
as are notified in writing from time to time by Client or the Contractor, as appropriate, to the other in respect of its Authorised Representative. 

  

	16.3	Each of Client and the Contractor shall be entitled to treat any act of the other’s Authorised Representatives in connection with this Agreement as being expressly authorised
by the party or parties which such Authorised Representative represents (save where the Agreement expressly provides or the parties have previously agreed in writing otherwise). 

  

	16.4	The Contractor’s Authorised Representatives shall have day to day responsibility for the implementation of each Transition Plan and the Services and shall attend any meetings
relating to this Agreement that are reasonably requested by Client’s Authorised Representative. 

  

	16.5	In addition to the Authorised Representatives, the parties shall respectively both provide the identity and contact details of the individuals specified in Schedule 6
and ensure that they fulfil the functions specified in Schedule 6. 

  

	16.6	If any member of the Key Staff leaves the employment of the Contractor, the Contractor shall: 

  

	 	    16.6.1  	inform Client of the departure as soon as it becomes irrevocable or the member of Key Staff has given notice to terminate his employment contract; and 

  

	 	    16.6.2  	confirm the name, qualifications and experience of any replacement to Client. 

 It is agreed that the Contractor shall replace each departing member of the Key Staff with an individual of at least equivalent experience and expertise in delivery of projects or services similar to the Transition
Plan, Implementation Services or Services (as applicable) and with equivalent levels of authority as the member of Key Staff being replaced. If Client does not agree (acting reasonably) that the Contractor 

  

 34 

 
has replaced a departing member of the Key Staff with an individual of at least relevant experience and expertise, Client may notify the Contractor in
writing of this concern requiring an explanation and the Contractor’s proposals to remedy the situation. 
  

	16.7	Client may at any time require the Contractor to notify Client in writing within ten days of: 

  

	 	    16.7.1  	the numbers and grades of Staff and Key Staff engaged in the provision of each Service Element; 

  

	 	    16.7.2  	the technical solution employed to deliver each Service Element; and 

  

	 	    16.7.3  	any software and hardware employed to deliver each Service Element. 

 Client shall use its reasonable discretion to render all information provided to it pursuant to this clause 16.7 generic and not identify the Contractor’s precise staffing levels, technical solution
and systems. Provided that it complies with this clause 16.7, Client shall be permitted to use this information in any retendering exercise and may release such information to third party providers, subject to the third party providers
agreeing confidentiality obligations equivalent to those in this Agreement. 
  

	16.8	The Contractor shall not redeploy any of the Key Staff to another of its clients/customers without the prior written consent of Client. The Contractor shall not use any of the
Hardware or Software for the provision of services to a third party (save where the Hardware and Software is identified in this Agreement or a Work Contract as being Hardware or Software shared with third parties). 

  

	16.9	Client reserves the right by notice in writing to the Contractor to require removal from the Services of any individual used by the Contractor in the provision of the Services,
provided that a prior reasonable justification has been provided to the Contractor confirming that this action is appropriate. Following the issue of any such notice the Contractor shall promptly withdraw such individual from provision of the
Services and ensure that any Confidential Information held by such individual is returned to the Contractor or Client (as appropriate). 

  

	16.10 ***	

  

 35 

	16.11 ***	

  

	17.	MANAGEMENT AND SUPERVISION 

  

	17.1	The Contractor shall manage the Services in accordance with the requirements of this Agreement and in particular with Schedule 6. 

  

	17.2	The Contractor shall ensure that all of the Staff are fully supervised at all times and fully comply in all respects with any agreed procedures, all relevant Regulations and conduct
themselves in a manner appropriate to the Services. 

  

 36 

	17.3	The Contractor shall have, or shall work towards obtaining by a date no later than the earliest Service Commencement Date arising pursuant to any Work Contract entered into, a
quality management framework covering such points as: 

  

	 	    17.3.1  	Service performance; 

  

	 	    17.3.2  	KPI and Service Level measures; 

  

	 	    17.3.3  	feedback and coaching for Staff; 

  

	 	    17.3.4  	process improvements; and 

  

	 	    17.3.5  	customer satisfaction measurement. 

  

	17.4	The Contractor shall implement those cultural and house-style policies which are referred to in Schedule 5, and contained in the Agreed Documents together with any other
policies of which Client notifies the Contractor. If the Contractor reasonably believes that such policies of Client conflict with the Contractor’s own policies, then it shall notify Client and the parties shall agree a mutually satisfactory
solution to the conflict (and in the absence of agreement, either party may refer the matter to be resolved pursuant to the Dispute Resolution Procedure). If any policy of which Client notifies the Contractor following the Effective Date (or in
relation to an individual Work Contract, the relevant Contract Term Start Date) causes an increase or looks likely to cause an increase in the Contractor’s costs which the Contractor (acting reasonably) believes to be an Outscope Change, the
Contractor may refer such matter to the Change Control Procedure. 

  

	18.	MONITORING/AUDIT/ACCESS RIGHTS 

  

	18.1	The Contractor shall provide audit and access rights (collectively the “Inspection Rights”; for the avoidance of doubt, the rights granted pursuant to
clauses 7.4 and 7.5 shall also be deemed to be included in the Inspection Rights), on the following basis (where reference is made to an exercise of the Inspection Rights, that is a reference to an exercise of such rights in a
complete or partial manner): 

  

	 	    18.1.1  	Client and/or any Client appointed auditor shall be permitted access to any and all documentation in the possession, custody or control of the Contractor which relates to the
Services and the Contractor shall procure that any person acting on its behalf (including any Permitted Contractor) who has such documents and/or other information shall also provide such access; 

  

 37 

	 	    18.1.2  	the Inspection Rights include the power to interview Staff, Permitted Contractors, staff of Permitted Contractors (provided that a representative of the Contractor may be present
during any such interview), take copies of any and all documentation and have access to and take copies of any computer data held for the purposes of the Services at all reasonable times and upon reasonable notice; 

  

	 	    18.1.3  	each of the parties will be responsible for all of its own costs arising from its exercise of the Inspection Rights; and 

  

	 	    18.1.4  	to the extent and for the period that the Inspection Rights cause any unavoidable disruption to the Services or the Contractor’s obligations under this Agreement, the
Contractor will not be liable for the consequences arising from such disruption. 

 The Inspection Rights shall also extend to
establishing and verifying compliance with the Data Protection Agreement, the Contractor Covenants, the information security requirements set out at Schedule 18 and the organisational structure set out at Schedule 5. 

 

	18.2	If requested by Client, the Contractor shall provide copies of any documents and reports which the Contractor holds in relation to the provision of the Services and the operation of
this Agreement and the Work Contracts made under it. 

  

	18.3	Client agrees that where it, or its appointed auditors, exercises its rights to inspect and/or audit all or any part of the Services under this Agreement, it will use reasonable
endeavours to minimise any disruption caused to the provision of the Services and the Contractor’s compliance with its obligations. 

  

	18.4	The Contractor shall grant to Client (and its employees and authorised agents) access to the Premises together with any other
 site(s) at which the Contractor holds records
relating to the Services at all times without prior notice in order to enable Client to monitor and validate the Contractor’s performance of the Services and of its obligations under this Work Contract. 

  

	18.5	Client or its agent shall be permitted open book access (at any time and with no notice requirements) to all records (including financial records) maintained pursuant to this
Agreement and each Work Contract during the term of this Agreement and the Contract Period of each Work Contract (as applicable) and for a further period of 90 days following the date of termination of this Agreement or Work Contract (as
applicable). 

  

 38 

	18.6	Client shall procure that any of its personnel and authorised agents visiting the Premises shall conform to the reasonable rules laid down by the Contractor from time to time for
visitors to its premises. 

  

	18.7	Client agrees that: 

  

	 	    18.7.1  	where it requires a third party provider to access the Contractor’s premises; or 

  

	 	    18.7.2  	Client provides a third party provider access to the Contractor’s data, 

 it shall prior to such third party having access to the premises or to the data, procure that such third party executes a confidentiality agreement with Client providing that such third party owes duties of
confidentiality to both Client and the Contractor which are at least equivalent to the confidentiality obligations contained in this Agreement and shall contain a prohibition on disclosure of such data. 
  

	18.8	Save where agreed to the contrary by Client in writing, the Contractor shall provide certificates confirming compliance with the standards detailed in this clause 18.8
on an annual basis, such certification to be provided during the month preceding each anniversary of the Effective Date. The certification areas subject to this clause 18.8 are: 

  

	 	    18.8.1  	COPC (business process outsourcing); 

  

	 	    18.8.2  	BS 7799; and 

  

	 	    18.8.3  	ISO 9001. 

  

	19.	PRICING 

  

	19.1	Subject to the other terms of this Agreement, throughout each Contract Period, Client shall pay to the Contractor the Charges specified in each Work Contract, based upon the Pricing
Model specified in Schedule 7. 

  

	19.2	Unless otherwise expressly agreed by the parties in writing or set out in this Agreement, the Charges due under this clause 19 shall constitute Client’s entire
payment obligations for the Services to the Contractor under this Agreement. 

  

 39 

	20.	THIRD PARTY SERVICES 

 For the avoidance of doubt,
save as specifically set out in this Agreement, the Contractor is not precluded from providing services to or doing business with any Client Competitor. 
  

	21.	PAYMENT 

  

	21.1	The Contractor shall issue an invoice to Client for the Services on the basis set out in Schedule 7, Annex 6 of each Work Contract and this clause 21.
Each invoice shall be sent by the Contractor to such address as Client shall notify to the Contractor from time to time. 

  

	21.2	Each invoice submitted to Client for payment must contain the following information: 

  

	 	    21.2.1  	the Work Contract(s) to which the invoice relates (the Charges to be broken down to a per Service Element basis and including or accompanied by such reporting as is sufficient for
Client to reconcile the invoiced volumes and values); 

  

	 	    21.2.2  	the period to which the Charges relate; 

  

	 	    21.2.3  	any Service Credits which have been set against the Charges in accordance with Annex 5 of each Work Contract; and 

  

	 	    21.2.4  	any Liquidated Damages which have been set against the Charges in accordance with Annex 1 of each Work Contract. 

  

	21.3	Subject to clause 21.5, Client shall pay in United Kingdom Pounds Sterling (or, if replaced by the Euro, in Euro (after applying the conversion mechanism determined by
United Kingdom statute, regulation or direction)) by bank transfer to such United Kingdom bank account as the Contractor may notify to Client in writing from time to time all invoices delivered to it in accordance with this clause 21 on
or prior to the date which is 30 days following the date upon which Client receives the invoice. 

  

	21.4	If any sums are due to Client from the Contractor, as agreed by Client and the Contractor or as determined pursuant to the Dispute Resolution Procedure, Client shall, following
prior written notice to the Contractor specifying the sums owing from the Contractor to Client and the invoice against which such sums will be set off, be entitled to set these off against such invoices. 

  

 40 

	21.5	If Client disagrees with any amount invoiced for any genuine reason or requires any further reasonable information with respect to any amount invoiced, it shall notify the
Contractor of the reason(s) for such disagreement or request such further information within 30 days of receiving the invoice; pending the resolution of such dispute Client shall be entitled to withhold payment of such part of the monies which
are in dispute or subject to further investigation in accordance with this clause. If no notification of a dispute is received pursuant to this clause 21.5 in relation to an invoice, then such invoice shall be paid in accordance with
clause 21.3. 

  

	21.6	If the Contractor disputes that Client is entitled to any reduction in the invoiced amount or the amount of any such reduction, then it may implement the Dispute Resolution
Procedure. In the event that it is resolved pursuant to the Dispute Resolution Procedure that there was an overcharge, then the Contractor shall reimburse Client for the amount overcharged if such amount has been previously paid to Contractor.

  

	21.7	Client and the Contractor shall pay the other of them any amounts which are agreed or determined, pursuant to the Dispute Resolution Procedure, as being due to the other of them,
within the later of the original payment date for the invoice and seven days following determination of the sum due. 

  

	21.8	Payment by Client shall be without prejudice to any claims or rights which Client may have against the Contractor and shall not constitute any admission by Client as to the
performance by the Contractor of its obligations under this Agreement. 

  

	21.9	All amounts payable pursuant to this Work Contract are expressed exclusive of VAT properly chargeable in accordance with UK Regulations. If required by UK Regulations, Client shall
pay any VAT at the rate for the time being properly chargeable in respect of the Services, subject to the Contractor providing Client with such valid tax invoices or other documentation as may be required by any relevant statute or regulation. The
Contractor shall be responsible for all taxes and duties imposed upon the Charges other than those imposed pursuant to UK Regulations. 

  

	21.10  	If any sum payable under this Agreement is not paid when due then, without prejudice to that party’s other rights and remedies under this Agreement, that sum will bear interest
from the due date until payment is made in full, both before and after any judgment, at 2% per annum over the Bank of England base rate from time to time. The parties agree that this clause 21.10 is a substantial remedy for late
payment of any sum payable under this Agreement in accordance with clause 8(2) of the Late Payment of Commercial Debts (Interest) Act 1998. 

  

 41 

	22.	 

 *** 
  

	23.	INTELLECTUAL PROPERTY RIGHTS 

  

	23.1	The Contractor acknowledges and agrees that all Intellectual Property Rights in the Project Materials shall belong exclusively and in their entirety to Client.

  

	23.2	The Contractor agrees on request to assign or procure the assignment to Client of all Intellectual Property Rights in the Project Materials. The Contractor shall do all such things
and execute all documents and instruments requested by Client which are necessary to enable Client to obtain, defend or otherwise protect or enforce its Intellectual Property Rights in the Project Materials. 

  

	23.3	Subject to clause 23.4 the parties hereby agree that all Intellectual Property Rights: (i) created by or on behalf of the Contractor prior to the Effective Date in
respect of the Contractor Software to be used primarily for the purposes of performing the Services pursuant to this Agreement; and/or (ii) created after the Effective Date by or on behalf of the Contractor to be used primarily for the purposes
of performing the Services pursuant to this Agreement that are not Project Materials and/or Client Materials (and do not contain or incorporate any aspect of the Client Software) (together “Contractor IPR”) shall belong to the
Contractor. During the term of this Agreement: 

  

	 	    23.3.1  	The Contractor may not use Contractor IPR to provide services to a Client Competitor unless such Contractor IPR has been generically changed to be no longer designed for specific
use with an energy or utilities company. 

  

	 	    23.3.2  	The Contractor grants an unrestricted, irrevocable royalty free licence for the duration of this Agreement for Client to use the Contractor IPR, including the right to sub-license
such Contractor IPR to Affiliates (while they remain Affiliates) and third party contractors in connection with the Services (but, for the avoidance of doubt, not to Contractor Competitors). 

  

 42 

	 	    23.3.3  	If the Contractor believes that it should own or wishes to use for any persons or entity other than Client any Client Materials and/or Project Materials, it may apply in writing to
Client for specific permission to own or use such development. 

  

	23.4	In relation to any Contractor IPR (i) the development of which is specifically paid for by Client, or (ii) which is embedded in the Project Materials and/or Client
Materials as part of the process of actually providing the Services (but not monitoring the provision of the Services (“Developed IPR”)), the Contractor grants an unrestricted, irrevocable royalty free and perpetual licence for
Client to use such Contractor IPR, including the right to sub-license such Contractor IPR to Affiliates and third parties, provided that this licence shall only cover the specific Developed IPR itself and nothing in this clause 23.4
shall be taken as granting Client a licence to or right to use any other Intellectual Property Rights or software of the Contractor, whether or not Contractor IPR, including for the avoidance of doubt the PROMPT package or any other software in
which Contractor IPR or Developed IPR may be embedded. 

  

	23.5	Upon request by Client, and in any event upon termination of this Agreement (howsoever occasioned), the Contractor shall promptly deliver to Client all copies of the Project
Materials in its custody, control or possession. 

  

	23.6	The parties hereby agree that all Intellectual Property Rights arising during the continuance of this Agreement in respect of alterations, modifications and enhancements of Client
Software (being software which is owned by or licensed to Client other than by the Contractor) made by the Contractor or procured by the Contractor specifically in connection with or to deliver the Services shall belong to Client and the Contractor
undertakes as necessary to assign or procure the assignment of all such Intellectual Property Rights to Client, at Client’s expense. For the avoidance of doubt, save as may be agreed pursuant to clause 23.3.3, the Contractor shall
not have the right to use Client Software for the benefit of any company not part of the Client Group. 

  

	23.7	Client shall, subject as stated in clause 23.8, indemnify and hold harmless the Contractor against all damages (including legal costs) that may be awarded or agreed to
be paid to any third party in respect of any claim or action that the use of Client Software and/or the Client Materials by the Contractor or its subcontractors pursuant to this Agreement infringes any Intellectual Property Rights of a third party.
Client shall provide such assistance and take such action as the Contractor shall reasonably require to protect the Contractor’s interest in such eventuality. 

  

 43 

	23.8	If the Contractor becomes aware of a matter which may give rise to a claim under the indemnity given at clause 23.7: 

  

	 	    23.8.1  	the Contractor shall notify Client immediately of the matter (stating in reasonable detail the nature of the matter and, if practicable, the amount claimed) and consult with Client
with respect to the matter; if the matter has become the subject of proceedings, the Contractor shall notify Client as soon as practicable to enable Client jointly to contest the proceedings; 

  

	 	    23.8.2  	the Contractor shall provide to Client and its advisers access to premises and personnel and to all relevant assets, documents and records that it possesses or controls to the
extent necessary for the purposes of investigating the matter and enabling Client to take the action referred to in this clause and Client may take copies of the documents and records solely for this purpose; 

  

	 	    23.8.3  	the Contractor shall take any action and institute any proceedings, and give any information and assistance that Client may reasonably request to dispute, resist, appeal,
compromise, defend, remedy or mitigate the matter or enforce against a person the Contractor’s rights in relation to the matter. In connection with proceedings related to the matter (other than against Client) the Contractor shall use reputable
advisers chosen by Client and, if Client requests, allow Client the exclusive conduct of the proceedings; and 

  

	 	    23.8.4  	the Contractor may not admit liability in respect of or settle the matter without first obtaining Client’s written consent, such consent not to be unreasonably withheld or
delayed. 

  

	23.9	The Contractor shall, subject as stated in clause 23.10, indemnify and hold harmless Client against all damages (including legal costs) that may be awarded or agreed to
be paid to any third party in respect of any claim or action that the use of the Contractor Software by Client pursuant to this Agreement infringes any Intellectual Property Right of any third party. The Contractor shall provide such assistance and
take such action as Client shall reasonably require to protect Client’s interest in such eventuality. 

  

	23.10 	If Client becomes aware of a matter which may give rise to a claim under the indemnity given at clause 23.9: 

  

	 	     23.10.1  	Client shall notify the Contractor immediately of the matter (stating in reasonable detail the nature of the matter and, if practicable, the amount claimed) and consult with the
Contractor with respect to the matter; if the matter has become the subject of proceedings, Client shall notify the Contractor as soon as practicable to enable the Contractor jointly to contest the proceedings; 

  

 44 

	 	     23.10.2  	Client shall provide to the Contractor and its advisers access to premises and personnel and to all relevant assets, documents and records that it possesses or controls to the
extent necessary for the purposes of investigating the matter and enabling the Contractor to take the action referred to in this clause and the Contractor may take copies of the documents and records solely for this purpose;

  

	 	     23.10.3  	Client shall take any action and institute any proceedings, and give any information and assistance that the Contractor may reasonably request to dispute, resist, appeal,
compromise, defend, remedy or mitigate the matter or enforce against a person Client’s rights in relation to the matter. In connection with proceedings related to the matter (other than against the Contractor) Client shall use reputable
advisers chosen by the Contractor and, if the Contractor requests, allow the Contractor the exclusive conduct of the proceedings; and 

  

	 	     23.10.4  	Client may not admit liability in respect of or settle the matter without first obtaining the Contractor’s written consent, such consent not to be unreasonably withheld nor
delayed. 

  

	23.11 	Notwithstanding any provision to the contrary, the Contractor shall retain the Intellectual Property Rights in any materials: 

  

	 	     23.11.1  	which it created prior to the Effective Date; or 

  

	 	     23.11.2  	which it has not created for Client or for the purposes of a Work Contract. 

  

	23.12  	For the avoidance of doubt, the provisions of this clause 23 shall survive the expiration or termination of this Agreement howsoever occasioned.

  

	23.13  	Client may request in writing the Contractor from time to time to procure a licence to use software for use in the Services specifically containing a right to assign such software
to Client upon termination of the Agreement and the Contractor shall use its best endeavours to achieve the same at Client’s cost. 

  

 45 

	23.14 	With effect from the date that the Contractor is appointed under a Work Contract to supply “Substantial Services” (as defined below) to Client the Contractor shall grant a
non-exclusive, royalty-free, non transferable or sub-licensable (save to members of the Client Group) licence in the United Kingdom to use ProMPT for the term of the Work Contract to enable Client, its employees and employees of Client Group to
conduct services of the same or substantially the same kind as the Services being the subject of the relevant Work Contract in the United Kingdom in parallel with the Services provided that Client shall comply with any reasonable and necessary
requests of the Contractor in connection with such use and licence. The licence shall be royalty free save that Client shall be responsible for the following costs and expenses: 

  

	 	     23.14.1  	Client purchasing any necessary servers for ProMPT to run on; 

  

	 	     23.14.2  	the Contractor providing any training required by Client in the UK (as opposed to India) in the use and operation of ProMPT; 

  

	 	     23.14.3  	any data transition costs incurred by the Contractor with Client’s agreement; 

  

	 	     23.14.4  	the Contractor providing such maintenance for ProMPT as Client shall require; and 

  

	 	     23.14.5  	properly and necessarily incurred “out of pocket” expenses specifically relating to Client as agreed by Client (such agreement not to be unreasonably withheld).

 For the purposes of this clause, “Substantial Services” are those Services provided under a Work Contract which
contribute at least 50% of Client’s requirements for services the same or substantially the same as the relevant Services and shall include Services which are specifically planned to reach this 50% level under the terms of the relevant Work
Contract. For the avoidance of doubt if Client cannot pass 50% or more of its requirements for the relevant Services to the Contractor due to and to the extent that some default or failure on the part of the Contractor the Services shall be deemed
to be Substantial Services even though the Contractor’s share of the same or substantially similar services required by Client falls below 50% due to such default or failure. The Contractor shall have the right to terminate this licence should
Client not comply with the terms of this clause 23.14. 
  

 46 

	24.	DOCUMENTATION/RECORDS 

  

	24.1	The Contractor shall maintain the documentation and records required in accordance with and to the standards set out in each Work Contract. 

  

	24.2	Copies of the documentation listed in each Work Contract shall be provided to Client (in electronic format where practicable) in accordance with the procedures set out in each Work
Contract. 

  

	24.3	The Contractor will develop and maintain all operational documentation necessary for provision of the Services, including the Project Materials. 

  

	25.	INSURANCE 

  

	25.1	The Contractor shall maintain throughout the continuance of this Agreement insurance policies with reputable insurers covering the risks and amounts set out in
clause 25.7. Such insurance policies (with the exception of those for automobile, property, crime and foreign liability, as set out below) shall contain a waiver of subrogation rights in favour of Client, save that the Contractor shall
not be obliged to obtain a waiver of subrogation in respect of professional liability and crime policies. The Contractor shall bear any and all excesses, deductibles or franchises incorporated therein. The Contractor warrants that to
the best of its knowledge, information and belief the insurance policies for automobile, property, crime and foreign liability cannot be provided by insurers with a wavier of subrogation rights. 

  

	25.2	The Contractor shall, if requested in writing at any time by Client, provide Client with evidence from its insurance brokers that the required coverage has been implemented and is
in place. Such evidence shall be provided within 21 days of such request. 

  

	25.3	The Contractor shall give written notice to Client as soon as reasonably practicable and without undue delay in the event of cancellation or any change in the said policies which
may affect Client’s interest. 

  

	25.4	Nothing in this clause 25 shall limit or relieve the Contractor or Client of their respective liabilities and obligations under this Agreement generally.

  

	25.5	If the Contractor is in breach of clause 25.1, Client may pay any premiums required to keep such insurance in force or itself procure such insurance, and may in either
case recover such reasonable amounts from the Contractor together with reasonable administration fees incurred forthwith upon written demand. Client may set off any such sums against sums payable to the Contractor at any time under this Agreement.
Any action or inaction by Client under this clause shall not affect the liability of the Contractor pursuant to this Agreement. 

  

 47 

	25.6	The Contractor shall procure that the Client is named as an express or nominated beneficiary under those policies of insurance highlighted with * in the table in
clause 25.7. 

  

	25.7	The insurance policies referred to in clause 25.1 shall cover the following risks with the following minimum limits: 

 *** 
  

 48 

 *** 
  

	26.	INDEMNITIES AND LIMITATIONS UPON LIABILITY 

  

	26.1	 Subject to the limitations of liability contained in this clause 26 the Contractor shall indemnify and keep indemnified Client against any direct
losses, damage, fines, costs and expenses (including third party and customer claims) which arise from the Contractor’s breach of this Agreement (including the Warranties) or from any Work 

  

 49 

	 	 
Contract, or from the negligence of the Contractor, its employees, agents or subcontractors (whether or not Permitted Contractors). The Contractor
acknowledges that such losses shall include: 

  

	 	    26.1.1  	the costs and expenses of migrating all or part of the Services back to Client or a third party; 

  

	 	    26.1.2  	the costs of all reasonable external consultancy, internal or external management, personnel and computer time, acceptance testing together with all reasonable costs associated
therewith in any case necessarily and directly incurred to remedy the default; 

  

	 	    26.1.3  	any loss of revenue directly caused by the Contractor’s default or breach of this Agreement or any Work Contract; 

  

	 	    26.1.4  	express savings set out in a Work Contract which the Contractor has agreed that Client would otherwise have made as a result of the provision of the Services in accordance with this
Agreement or any Work Contract and which will not be realised due to the early termination of this Agreement or the Work Contract; 

  

	 	    26.1.5  	payments made by Client to a third party pursuant to Client’s commitment to such third party (whether contractual or in accordance with Client’s published compensation
policy guidelines) and arising as a result of such breach or neglect by the Contractor; 

  

	 	    26.1.6  	any costs incurred as a result of Client implementing its rights contained in clause 30; 

  

	 	    26.1.7  	any fines imposed by, any Regulatory Authority in connection with any breach by Client of its regulatory requirements resulting from such act or omission by the Contractor; and

  

	 	    26.1.8  	any costs incurred by Client as a result of the Contractor using Intellectual Property of Client for purposes not specified by Client (where this causes Client to be in breach of
obligations to third parties in respect of such Intellectual Property), 

 provided that Client uses its best endeavours to
mitigate any such losses. References above to “Client” shall include any member of the Client Group. 
  

 50 

 Maximum Liability 
 *** 
 General 
  

	26.5	Except for those provisions expressly stated in this Agreement, all warranties, conditions, terms, representations, statements, undertakings and obligations whether express or
implied by statute, common law, custom, usage or otherwise are all hereby excluded to the fullest extent permitted by law. 

  

 51 

	26.6	Nothing in this Agreement shall exclude or limit either Client’s or the Contractor’s liability for: 

  

	 	    26.6.1  	death or personal injury caused by the negligence of Client or the Contractor, as appropriate; 

  

	 	    26.6.2  	any matter which it would be illegal for Client or the Contractor, as appropriate, to limit and/or exclude or to attempt to limit and/or exclude its liability for; and/or

  

	 	    26.6.3  	fraud. 

  

	26.7	The rights and remedies of each party given in this Agreement are cumulative and not exclusive of any rights or remedies granted by law save as otherwise expressly stated in this
Agreement. 

  

	26.8	For the avoidance of doubt, the Contractor’s liability for a breach of this Agreement shall be reduced if and to the extent that a breach of this Agreement by the Contractor
arises directly from a breach by Client of this Agreement, or a negligent act or omission by Client pursuant to this Agreement. However, the Contractor may not use this clause 26.8 to avoid liability where the Contractor could reasonably
have avoided its breach of this Agreement notwithstanding Client’s breach or negligent act or omission. 

  

	27.	DISASTER RECOVERY 

  

	27.1	The Contractor shall with effect from the first Service Commencement Date arising pursuant to this Agreement at all times comply with and maintain the agreed BCP. Prior to this the
Contractor will develop a first version of the BCP as part of the Transition Plan. 

  

	27.2	The parties shall, to the reasonable satisfaction and under the direction of Client, in addition to the requirements of Schedule 8, test the BCP at least once in each
Contract Year to ensure that such plans remain adequate in accordance with the processes set out in Schedule 8. 

  

	28.	SUSPENSION OF SERVICES 

  

	28.1	In the circumstances set out in clause 28.2 Client may at any time during the term of this Agreement serve a notice upon the Contractor using the pro-forma shown in
Schedule 11 (a “Suspension Notice”) stating: 

  

	 	    28.1.1  	that it is Client’s intention to suspend the Services, or certain Service Elements; 

  

 52 

	 	    28.1.2  	the reason for such suspension; 

  

	 	    28.1.3  	the date it wishes to commence such action; and 

  

	 	    28.1.4  	an indication of the time period which at that time it believes will be necessary for such suspension (this time frame shall not be binding upon Client). 

 

	28.2	Client may serve a Suspension Notice in the following circumstances: 

  

	 	    28.2.1  	Client is in breach of Regulations, or reasonably believes it is likely to be in breach of Regulations, as a consequence of the continuance of it receiving Services or the relevant
Service Element; 

  

	 	    28.2.2  	Client reasonably believes that there is a risk to the functioning of Client, or a risk to the confidentiality or probity of the information or data held, processed or utilised by
Client for the performance of the Services; and/or 

  

	 	    28.2.3  	the Contractor has failed to remedy a matter which is the subject of a Defects Notice and clause 7.9 applies; 

  

	 	    28.2.4  	Client has a right to terminate a Work Contract, or this Agreement, as a consequence of the Contractor’s material breach; and/or 

  

	 	    28.2.5  	Client wishes to suspend some or all of the Services in its sole discretion. 

  

	28.3	If Client serves a Suspension Notice, the Contractor will from the date specified in the Suspension Notice suspend the Services or the relevant Service Element(s). In the event that
the Services or a relevant Service Element(s) are suspended, then from the time such suspension takes effect, the Contractor shall take no action in respect of such suspended Services or Service Elements save as reasonably directed or required by
Client. Client agrees that it will minimise the scope of the suspension with regard to the Services to the maximum extent it reasonably can. 

  

	28.4	Client may cease at any time to require a Service or Service Element to be suspended and must do so where the reason in clause 28.1.2 has ceased, to its reasonable
satisfaction, to be operational. The Contractor shall resume such Services or Service Elements as soon as reasonably practicable following such notice from Client and in any event no longer than five Business Days following such notice.

  

 53 

	28.5	If and to the extent that the cause of the suspension does not arise from a breach by the Contractor of any of its obligations under this Agreement (and always where the cause of
suspension is pursuant to clause 28.2.5), in respect of the period during which Client requires the Services or relevant Service Elements to be suspended, Client shall, subject to clause 28.6, continue to pay all Charges that
would otherwise fall due, provided that if and to the extent that the cause of the suspension arises from a breach by the Contractor of its obligations under this Agreement, during the period of suspension Client shall have no obligation to pay the
Charges to the Contractor in respect of the suspended Services or Service Element(s). 

  

	28.6	The Contractor shall, in relation to this clause 28, seek to mitigate its costs to the extent reasonably possible and to the extent it is able to do so shall reduce the
Charges for that period and in respect of those Services which are suspended by the amount of its saving. If the suspension occurs during an Implementation Period, the Contractor shall not incur any further unavoidable expenses with respect to the
relevant Implementation Services without the prior written consent of Client. 

  

	28.7	The rights of each party under this clause 28 are without prejudice to any of its other rights whether under this Agreement or at law. The parties agree that the correct
exercise by Client of its suspension rights does not create any liability for Client other than as expressly provided for in this Agreement in respect of such suspension. 

  

	28.8	If the cause of suspension arises from clause 28.2.5, Client may require the Contractor to reduce staffing levels, Assets and other factors which incur cost, in order to
mitigate the cost to Client of the suspension but Client shall be responsible for any unavoidable costs incurred as a consequence, subject to Contractor advising Client of the amount of such unavoidable costs in advance, to the extent that it is
reasonably possible to determine or estimate such costs in advance. 

  

	28.9	In addition to its rights under clause 28.1 Client shall have the right at its discretion, whereupon it must serve written notice on the Contractor, to delay all or specific
elements of Implementation Services so as to extend the Implementation Period. If Client shall exercise its right in this regard the provisions of clauses 28.5 and 28.6 and, where appropriate, clause 28.10, shall apply in
relation to the Implementation Charges. 

  

	28.10	

  

	 	    28.10.1  	If Client exercises its right to defer the Implementation Services and/or the Services the following provisions of this clause shall operate in relation to the costs relating to the
Premises being made available to provide the Implementation Services and Services. 

  

 54 

	 	    28.10.2  	At any time up to *** Client may give written notice to the Contractor that it does not want the Contractor to keep such Premises available in which case the following provisions
shall apply: 

  

	 	28.10.2.1  	If such notice is given on or before *** then Client shall bear *** from *** in relation to such Premises; 

  

	 	28.10.2.2  	If such notice is given after *** then Client shall pay to the Contractor a sum equal to *** for each week (or part week if the notice is served other than on a 7 day anniversary of
***) that has passed after *** up to the date of service of such notice subject to a maximum payment of ***; and 

  

	 	28.10.2.3  	If Client gives notice under clause 28.10.2 then it shall give the Contractor at least *** written notice that it requires the Contractor to provide new Premises to provide
the Services and the Implementation Services for which the Premises are required. The Contractor shall only be obliged to provide the new Premises for the Services, and for the Implementation Services for which the Premises are required, from the
expiry date of such notice (or such earlier date as the parties agree). Notwithstanding that the Premises may not be available for an agreed period, to the extent that performance of the Implementation Services is not dependant upon the Premises
then the Contractor shall continue to perform those Implementation Services. 

  

	 	    28.10.3  	If Client wishes to defer the Implementation Services and/or Services but keep such Premises available from *** then it can require this of the Contractor by giving written notice
to this effect on or before *** in which case Client shall pay the following sums to the Contractor for the period during which it defers the Implementation Services and/or Services: 

 *** 
  

 55 

 *** 
  

	29.	FORCE MAJEURE 

  

	29.1	Subject to clauses 29.2 and 29.3, if either Client or the Contractor (the “Affected party” with the other of them being the “Other
party” in this clause 29) is prevented, hindered or delayed from or in performing any of its obligations under this Agreement by Force Majeure, then: 

  

	 	    29.1.1  	the Affected party’s specific obligations under this Agreement which are prevented, hindered or delayed by Force Majeure shall be suspended for so long as the Force Majeure
continues (the “Force Majeure Period”) and only to the extent that the Affected party is so prevented, hindered or delayed subject always to complying with this clause 29; 

  

	 	    29.1.2  	as soon as reasonably possible and in any event within one day after commencement of the Force Majeure, the Affected party shall notify the Other party in writing of the occurrence
of the Force Majeure, the date of commencement of the Force Majeure and the effects and likely duration of the Force Majeure on its ability to perform its obligations under this Agreement; 

  

	 	    29.1.3  	the Affected party shall use its reasonable endeavours to mitigate the effects of the Force Majeure upon the performance of its obligations under this Agreement and the Other party
will use its reasonable endeavours to assist the Affected party with the aim of reducing the Force Majeure Period; and 

  

	 	    29.1.4  	as soon as reasonably possible and in any event within one day of cessation of the Force Majeure, the Affected party shall notify the Other party in writing of the cessation of the
Force Majeure and shall resume performance of its obligations under this Agreement as soon as reasonably possible. 

  

 56 

	29.2	Without prejudice to clause 29.3, during or in relation to any Force Majeure Period, Client shall not be obliged to pay to the Contractor any sum due pursuant to
clause 21 in respect of the affected Service Elements to the extent that Client does not or is not able to receive the affected Service Elements. 

  

	29.3	If any Force Majeure preventing the Contractor from providing any or all of the Services in accordance with this Agreement: 

  

	 	    29.3.1  	prevails for a continuous period of three days, then Client shall be entitled to enforce its rights to step in, in accordance with the terms of clause 30, if Client
reasonably believes that by enforcing its rights to step in it might mitigate the consequences of the Force Majeure; and/or 

  

	 	    29.3.2  	prevails for either a continuous period in excess of 45 days or 60 days in aggregate in any period of 365 days, then Client shall be entitled to terminate this
Agreement by giving not less than 20 Business Days’ notice in writing to the Contractor and the Contractor shall be entitled to terminate the provision of the Service Element(s) it is prevented from providing by such Force Majeure under
the relevant Work Contracts on 30 days notice in writing to Client and the Charges payable under the relevant Work Contracts shall be adjusted accordingly through the Change Control Process; 

  

	29.4	“Force Majeure” shall mean any cause preventing a party from performing any or all of its obligations (other than payment) which is beyond its reasonable control
and which arises from or is attributable to an act of God (any act, event, omission or accident which is expressed to be handled by a BCP or which the BCP is practicably capable of addressing, shall not, for the avoidance of doubt, give rise to
Force Majeure) and which cannot be avoided by the party taking reasonable steps. The following causes preventing a party from performing any or all of its obligations shall not be Force Majeure; default or delay of the Affected party or
subcontractors (unless the default or delay of the Affected party or a subcontractor is itself caused by an event of Force Majeure); strikes; lockouts or industrial action of Affected party’s workforce; or any event attributable to the wilful
act or neglect of the Affected party. 

  

 57 

	30.	 

  
 *** 
  

 58 

 *** 
  

 59 

 *** 
  

 60 

 *** 
  

	31.	DISPUTE RESOLUTION 

  

	31.1	If, during the term of this Agreement, a dispute arises between Client and the Contractor relating to this Agreement (including any Work Contract) and they cannot reach agreement,
the unresolved matter will be escalated between them in accordance with this clause 31. 

  

	31.2	A dispute referred for determination under this clause 31 relating to any Work Contract shall be escalated internally for resolution as follows:

  

	 	    31.2.1  	by referral in writing (issued by either of Client and the Contractor) in the first instance to the persons designated as the stage 1 representative in Annex 9 of the
Work Contract the subject of the dispute; 

  

	 	    31.2.2  	if a dispute is not resolved within two Business Days of its referral under clause 31.2.1, or such longer period as may be agreed between the parties, either Client
or the Contractor may refer the dispute in the next instance to the persons designated by each party as the stage 2 representative in Annex 9 of the Work Contract the subject of the dispute; 

  

 61 

	 	    31.2.3  	if a dispute is not resolved within five Business Days of its referral under clause 31.2.2, or such longer period as may be agreed between the parties, either
Client or the Contractor may refer the dispute in the next instance to the persons designated by each party as the stage 3 representative in Annex 9 of the Work Contract the subject of the dispute; and 

  

	 	    31.2.4  	if a dispute is not resolved within five Business Days of its referral pursuant to clause 31.2.3 or such longer period as may be agreed by the parties, either Client or
the Contractor may refer the dispute pursuant to clause 31.4. 

  

	31.3	A dispute referred for determination under this clause 31 relating to this Agreement shall be escalated internally for resolution as follows: 

  

	 	    31.3.1  	by referral in writing (issued by either Client or the Contractor) in the first instance to the persons designated as the stage one representative being: 

 

			
	 Stage one representative
	  	- Client’s Contract Manager
		  	- the Contractor’s Country Manager;

  

	 	    31.3.2  	if a dispute is not resolved within two Business Days of its referral under clause 31.3.1, or such longer period as may be agreed between the parties, either Client or the
Contractor may refer the dispute in the next instance to the persons designated by each party as the stage 2 representative being: 

  

			
	 Stage 2 representative
	  	- Client’s Head of General Procurement
		  	- the Contractor’s General Counsel;

  

	 	    31.3.3  	if a dispute is not resolved within five Business Days of its referral under clause 31.3.2, or such longer period as may be agreed between the parties, either Client or the
Contractor may refer the dispute in the next instance to the persons designated by each party as the stage 3 representative being: 

  

			
	 Stage 3 representative
	  	- Client’s Commercial Director
		  	- the Contractor’s CEO;

  

	 	    31.3.4  	if a dispute is not resolved within five Business Days of its referral pursuant to clause 31.3.3 or in each case such longer period as may be agreed by the parties, either
Client or the Contractor may refer the dispute pursuant to
 clause 31.4. 

  

 62 

	31.4	

  

	 	    31.4.1  	If any dispute has not been resolved pursuant to clause 31.2 or 31.3, as appropriate, then, subject to clause 31.6, either of Client and the
Contractor may by notice in writing to the other of them refer such dispute to the London Court of International Arbitration in accordance with the rules of the London Court of International Arbitration then in force. 

  

	 	    31.4.2  	The number of arbitrators will be three; each of Client and Contractor to appoint an arbitrator and the arbitrators so appointed to appoint the third. 

  

	 	    31.4.3  	The place of arbitration will be London and the language to be used in the arbitral proceedings will be English. 

  

	 	    31.4.4  	The parties hereby waive irrevocably: 

 any right of appeal
under the Arbitration Act 1996 in relation to any award made by the arbitration tribunal appointed in accordance with this clause 31.4; and 
 any right to apply to the High Court under the Arbitration Act 1996 for the determination of any question of law arising in the course of any reference to arbitration under this clause. 
  

	31.5	Notwithstanding clause 31.1 to 31.4, either Client or the Contractor may, if it reasonably regards any dispute as being of sufficient importance, immediately
escalate a dispute to stage 3 (as set out in clauses 31.2.3 and 31.3.3) and any escalation subsequent to such escalation shall be in accordance with clauses 31.2.4, 31.3.4 and 31.4.

  

	31.6	If either Client or the Contractor is unable to implement (or conclude) the arbitration provisions in clause 31.5, or is seeking injunctive or other similar equitable
relief, whether pursuant to clause 36.9 or otherwise, either of Client and the Contractor may resolve the matter pursuant to clause 47.2 in the English courts. 

  

	32.	TERMINATION 

  

	32.1	Subject to clause 33.7, Client may terminate this Agreement by written notice to the Contractor either in its whole, or in relation to one or more Work Contracts, or
Service Elements detailed in a Work Contract, immediately if: 

  

	 	    32.1.1  	the Contractor is in material breach of any of the terms of this Agreement and, where the breach is capable of remedy, the Contractor fails to remedy such breach within 30 days
after service of a written notice from Client specifying the breach and requiring it to be remedied; 

  

 63 

	 	    32.1.2  	the Contractor makes a series of non-material breaches (which in aggregate have a material effect) and, following written notice of this served by Client upon the Contractor, the
Contractor has not prepared and implemented a rectification plan which will prevent the reoccurrence of such non-material breaches within 30 days of the date of Client initial notice pursuant to this clause 32.1.2.

  

	32.2	Client may by seven days’ prior written notice served on the Contractor terminate this Agreement, subject to clause 33.7, either in its whole, or in relation to one
or more of the Work Contracts, or Service Elements detailed in a Work Contract: 

  

	 	    32.2.1  	pursuant to its rights of termination expressly referenced in clauses 7.11, 7.12, 9.4 and 15.3.3, and paragraph 6.3 in Schedule 4;

  

	 	    32.2.2  	subject to clause 32.3, the Contractor has a change in its Control; and/or 

  

	 	    32.2.3  	any Regulatory Authority prohibits Client from receiving Services (or services similar to the Services) and/or places limits or controls on Client which are commercially
unacceptable to Client and such prohibition, limit or control arises from the Contractor’s breach of clause 15.1. 

  

	32.3	It is understood between the parties that the equity securities of the Contractor may be the subject of a public offering during the term of the Agreement and Work Contracts.

  

	 	    32.3.1  	It is agreed that in these circumstances Client may terminate the Agreement, by 60 Business Days’ prior written
 notice, if: 

  

	 	  32.3.1.1  	when the initial public offering is made or at any time thereafter, 30% or more of the equity securities of the Contractor become owned or under the control of a single investor who
is not an investor at the date of this Agreement provided that this shall not apply to holdings of the equity securities of the Contractor by underwriters as a consequence of the initial public offering in their role as such, or holdings maintained
by fund managers on behalf of unconnected groups of individual investors; 

  

 64 

	 	  32.3.1.2  	within the first two years following the Effective Date, either of the senior managers of the Contractor (being for the purposes of this clause 32.3. Vikram Talwar and
Rohit Kapoor) cease to be employed by the business (save in the event of death or incapacitation of such senior managers). 

  

	 	    32.3.2  	The Contractor agrees that it shall monitor shareholdings and senior management and if any of the criteria in clauses 32.3.1.1 to 32.3.1.2 are fulfilled, the
Contractor shall notify Client immediately in writing as soon as the Contractor becomes so aware. 

  

	 	    32.3.3  	Client agrees to exercise or waive its right to terminate pursuant to clause 32.3.1.1 within 30 Business Days following written notice from the Contractor pursuant to
this clause 32.3 that a person or entity has obtained 30% or more of the equity securities of the Contractor. 

  

	 	    32.3.4  	If the Contractor anticipates one of the events in clause 32.3.1.1 to 32.3.1.2 occurring it may approach Client for consent to engage in such transaction, not to
be unreasonably withheld or delayed. In deciding whether to consent and thereby waive its right to terminate pursuant to clauses 32.3.1.1 and 32.3.1.2, Client shall act reasonably. For the avoidance of doubt, Client may consider
the nature of previous relationships with the entity, or the positioning of that entity’s business in comparison with that of Client, when assessing reasonableness. 

  

	32.4	Either of Client and the Contractor (the “Terminating Party”) may by written notice served on the other of them (the “Defaulting Party”) terminate
this Agreement immediately, subject to clause 33.7, if: 

  

	 	    32.4.1  	the Defaulting Party summons a meeting of its creditors, makes a proposal for a voluntary arrangement, becomes subject to any voluntary arrangement, is unable to pay its debts
within the meaning of section 123 Insolvency Act 1986, has a receiver, manager, administrator or administrative receiver appointed over any of its assets, undertakings or income, has passed a resolution for its winding-up (save for the purpose
of a voluntary reconstruction or amalgamation), is subject to a bona fide petition presented to any Court for its winding-up (save for the purpose of a voluntary reconstruction or amalgamation), is subject to a bona fide petition presented to any
Court for its administration, has a provisional liquidator appointed, has a proposal made for a scheme of arrangement under section 425 Companies Act 1985 representing a compromise with its creditors or is the subject of a bona fide notice to
strike off the register at Companies House or is subject to an administration order; 

  

 65 

	 	    32.4.2  	the Defaulting Party has any distraint, execution or other process levied or enforced on any of its property which is not contested or paid out within 20 days of being levied
or enforced; 

  

	 	    32.4.3  	the equivalent of any of the above occurs to the Defaulting Party under any jurisdiction to which that party is subject; or 

  

	 	    32.4.4  	the Defaulting Party ceases to trade. 

  

	33.	EFFECT OF TERMINATION 

  

	33.1	The termination of this Agreement, or of a Work Contract, howsoever arising is without prejudice to the rights and remedies of any party accrued prior to termination.

  

	33.2	The clauses in this Agreement which expressly or impliedly have effect after termination will continue to be enforceable notwithstanding termination. 

  

	33.3	Notwithstanding the service of notice to terminate this Agreement or a Work Contract pursuant to clause 32 or any other express right of termination set out in this
Agreement, the Contractor shall continue to provide the Services in strict accordance with the terms of this Agreement and relevant Work Contract until the date of termination of this Agreement or Work Contract and thereafter as required pursuant to
clause 33.7. 

  

	33.4	Upon cessation of Services hereunder, each of Client and the Contractor shall return to the other all property of the other in its possession including Confidential Information and
shall delete from its systems and/or destroy (as applicable) any Confidential Information which would otherwise remain on the Contractor’s Hardware. In addition, the Contractor shall comply with the handover and confidential destruction
requirements contained in paragraph 14 of Schedule 18. This clause will not operate to the extent that such Confidential Information is required as part of the party’s records for audit purposes, or for regulatory or
legislative purposes subject to that party complying on an ongoing basis with the confidentiality obligation set out in clause 36. 

  

	33.5	The parties shall comply fully with the terms of the Exit Plan (both before and after the date of termination of this Agreement or Work Contract (as applicable)) to facilitate the
handover of the Services (including any necessary migration) to Client or to a third party contractor. The Contractor’s obligations in the Exit Plan shall be performed at no cost to Client save to the extent that costs and/or an incentive fee
are expressed to be payable in the Exit Plan. 

  

 66 

	33.6	In addition to the provisions of clause 33.5, the Contractor shall provide such assistance as Client may reasonably require beyond any actions specified in the Exit Plan
where this is necessary in order to ensure an effective handover of responsibility for the provision of the Services to Client or its nominee. 

  

	33.7	In the event that this Agreement is terminated by Client pursuant to clause 32, then notwithstanding such termination the Contractor shall continue to provide the
Services or Service Elements under this Agreement (whether pursuant to one or more Work Contracts) for such period as Client may specify being a period no greater than 12 months after the relevant date of termination (such period being referred
to as the “Continuation Period”) and Client shall continue to pay the Charges and all sums due in respect of the relevant Services to the Contractor during the relevant Continuation Period at the rates (as varied from time to time
in accordance with the terms of the Agreement) which are or would be applicable under this Agreement as though this Agreement or Work Contract(s) were continuing in full force and effect provided that the Contractor shall have no liability
(financial or otherwise) in relation to any breach or non-performance of any of its obligations under this Agreement (whether caused by its negligence or otherwise) which continues beyond the date of termination of this Agreement or Work Contract
into and during any Continuation Period to the extent that such breach which was pre-existing at the date of termination of this Agreement or Work Contract continues beyond the date of termination of this Agreement or Work Contract.

  

	33.8	The Contractor shall indemnify and keep indemnified Client from and against all claims, liabilities, costs and expenses arising from or in connection with any claim made by the
employees, agents or contractors of the Contractor against Client whether during or after the term of this Agreement. 

  

	33.9	Each clause in this clause 33 shall be applied for: 

  

	 	    33.9.1  	both part termination of a Service Element or Service Elements, in which case this clause 33 shall be applied solely in respect of such Service Element or Service
Elements; 

  

	 	    33.9.2  	termination of the entire Agreement; or 

  

 67 

	 	    33.9.3  	termination of one or more Works Contract, in which case this clause 33 shall be applied solely in respect of such terminated Work Contract(s). 

 

	33.10	

  

	 	    33.10.1  	In the event Client terminates this Agreement pursuant to clause 32.4 or Clause 35, the Client may at its option exercise the rights set out in Schedule 14
and Client and the Contractor shall act in accordance with the terms and principles set out in Schedule 14. 

  

	 	    33.10.2  	The Contractor shall use all reasonable endeavours to arrange its affairs in relation to the provision of the Services so as to ensure that the rights of Client set out in
Schedule 14 may be exercised fully and effectively. 

  

	34.	

  
 *** 
  

 68 

 *** 
  

	35.	EMPLOYEES 

 Client Indemnity upon entry into the
Agreement 
  

	35.1	The Client shall be liable for and shall indemnify the Contractor in respect of all and any Emoluments and Employment Liabilities arising from or in connection with:

  

	 	    35.1.1  	the transfer or purported transfer of employment to the Contractor and/or its subcontractors of any person currently or previously employed or engaged by the Client or its
contractors (other than the Contractor) (collectively referred to as the “Client Staff”) arising by operation of the Transfer of Undertakings (Protection of Employment) Regulations 1981 (as amended) and any equivalent or other laws,
whether in the United Kingdom or India (hereinafter known as “Employment Laws”); and/or 

  

	 	    35.1.2  	any failure by the Client or its contractors to discharge in full any obligation to inform or consult appropriate representatives or employees about the transactions contemplated by
this Agreement or its termination or any other matter. 

  
 *** 
  

 69 

	36.	CONFIDENTIALITY 

  

	36.1	In consideration of the Confidential Information being made available to a party, such party undertakes that it will: 

  

	 	    36.1.1  	use the Confidential Information solely as necessary for the purposes of this Agreement and only disclose the Confidential Information to those persons who are required in the
course of their duties to receive and consider same; 

  

	 	    36.1.2  	treat and safeguard as private and confidential all of the Confidential Information and not by any means whatsoever disclose or allow access to the Confidential Information (or
permit such disclosure or access) to any person whatsoever without the prior written consent of the disclosing party, and in strict accordance with the terms of such consent; 

  

	 	    36.1.3  	not without the prior written consent of the disclosing party copy by any means whatsoever any of the Confidential Information supplied or disclosed to it otherwise than as shall be
necessary to fulfil its obligations under this Agreement; 

  

	 	    36.1.4  	not make any commercial use of the Confidential Information or any part thereof save as agreed in writing or to carry out its obligations under this Agreement;

  

	 	    36.1.5  	procure that any of its advisers, agents, directors or employees to whom disclosure of any Confidential Information is to be made agree prior to such disclosure, to be bound by the
obligations of this Agreement as if they were a party hereto and the party receiving the Confidential Information will be responsible for any breach of such obligations as they apply to such persons; and 

  

	 	    36.1.6  	not reveal to any person other than as permitted by clause 36.1.5, or in accordance with clause 36.3, or make any public announcement: 

 

	 	  36.1.6.1  	of the fact that it has requested or received any Confidential Information; or 

  

	 	  36.1.6.2  	giving details of any terms or conditions of or other facts relating to the Confidential Information, or to its status, 

 save as may be agreed between the parties in writing. 
  

 70 

	36.2	The Contractor undertakes not to use the Confidential Information to provide services to any company that is not Client, and acknowledges that Client will not give consent to any
such use either verbally or in writing. Any such consent purported to be given by any employee or agent of Client will not be valid. 

  

	36.3	In the event that Client or the Contractor as appropriate provides prior written consent to allow the other of them to disclose Confidential Information to a third party, the other
of them will ensure that those third parties execute a confidentiality agreement in the form of that contained in Schedule 1. 

  

	36.4	Within seven days of receipt of a written request from a party hereto, on termination of a Work Contract or this Agreement (as appropriate) each other party will, in relation to the
Confidential Information held in connection with the relevant terminated Work Contract, or all Confidential Information following termination of this Agreement, return to the other parties all physical Confidential Information that is in its
possession or under its custody and control and all copies thereof and will expunge any Confidential Information from any computer, word processor or other device, and all analyses, compilations, notes studies, memoranda or other documents prepared
which contain Confidential Information will be destroyed and each party will deliver to the other parties a certificate signed by a director confirming compliance with the requirements of this clause 36.4. 

  

	36.5	Subject as stated in this clause, the provisions of clause 36.1 to 36.3 will not restrict any disclosure required by or essential to comply with any law or the
requirements of any governmental or regulatory authority acting within the scope of its powers, provided that: 

  

	 	    36.5.1  	if possible, for requirements not falling within the scope of clause 36.5.2 Client or the Contractor, as appropriate, is given not less than five Business Days’
prior written notice of such disclosure by the other of them that is affected, and the affected party in any event takes all necessary steps at its expense to limit disclosure to the minimum required; 

  

	 	    36.5.2  	for requirements arising in connection with an IPO or similar listing relating to the Contractor or any of its Affiliates, Client shall be given not less than five Business
Days’ prior written notice of such disclosure and shall fully consult with and take account of Client’s views as to the nature and requirements for such disclosure so as to in any event take all necessary steps at the Contractor’s
expense to limit disclosure to the minimum required; and 

  

 71 

	 	    36.5.3  	the Contractor shall, in any event, not make any disclosure relating to the entering into of this Agreement and naming or identifying Client or any Affiliate of Client, prior to
Client making such disclosure to its employees, such disclosure to be notified to the Contractor as soon as practicable. 

  

	36.6	Each of Client and the Contractor will be fully responsible for instituting, maintaining, implementing and enforcing all security or other measures to comply with its obligations
under this clause 36. 

  

	36.7	Client makes no representation, express or implied, or gives any warranty with respect to the accuracy or completeness of Confidential Information supplied by Client or any oral
communication in connection therewith. However, where the Contractor specifically advises Client in writing that it, acting reasonably, will be relying on the content of specific Confidential Information in the provision of the Services and Client
acting reasonably confirms its agreement to this then the Contractor shall not be liable for any failure on its part to provide the Services in accordance with this Agreement to the extent that such failure is directly caused by errors or inaccuracy
in such Confidential Information. 

  

	36.8	All Confidential Information supplied or disclosed by a party will remain the property of such party. 

  

	36.9	Without prejudice to any other rights or remedies under this Agreement, the parties acknowledge and agree that damages would not be an adequate remedy for any breach of the
provisions of this clause 36, and an affected party will be entitled without proof of special damage to the remedies of injunction, specific performance and other equitable relief for any threatened or actual breach of any such provision
by any other party. 

  

	36.10  	The Contractor acknowledges that Client may be subject to the FOIA both at the Effective Date and to a greater or lesser degree at a later date. The Contractor will act in
accordance with the FOIA (and any other applicable codes of practice or guidance notified to the Contractor from time to time relating to the supply of information) to the extent that they apply to the Contractor’s performance under this
Agreement. 

  

	36.11  	The Contractor agrees that without prejudice to the generality of this clause 36, the Contractor provisions of this clause 36 are subject to the respective
obligations and commitments of Client under the FOIA and where Client is managing a request thereunder, the Contractor shall co-operate with Client making the request and shall respond within five Business Days of any request by it for assistance in
determining how to respond to a request for disclosure. 

  

 72 

	36.12  	The Contractor shall and shall procure that its sub-contractors shall: 

  

	 	    36.12.1  	transfer any request for information, as defined under section 8 of the FOIA or the Environmental Information Regulations 2004, to Client as soon as practicable after receipt
and in any event within five Business Days of receiving a request for information (and Client shall provide such explanations as the Contractor shall require to allow the Contractor to understand what information it needs to supply);

  

	 	    36.12.2  	provide Client with a copy of all information in its possession or power in the form that Client requires within five Business Days (or such other period as Client may specify) of
Client requesting that Information; and 

  

	 	    36.12.3  	provide all necessary assistance as reasonably requested by Client to enable Client to respond to a request for information within the time for compliance set out in section 10
of the FOIA or the Environmental Information Regulations 2004. 

  

	36.13  	The restrictions upon Confidential Information contained in this clause 36 will continue to apply after the termination of this Agreement without limit in time until the
relevant Confidential Information is no longer confidential (other than as a result of a breach by any party of their obligations under this Agreement). 

  

	36.14  	Each of the parties warrant that it has not made or published any statement relating to, or disclosed any Confidential Information prior to the date of this Agreement which would
constitute a breach of the duty of confidentiality under this Work Contract if it had occurred after the date of this Agreement. 

  

	36.15  	During the final six months of the term of a Work Contract and/or the Agreement including during the period of any extension, or following a notice of termination of this Agreement
or a Work Contract as appropriate being issued by either of Client or Contractor, Client may reveal Confidential Information to any third party to whom it is considering transferring the Service, provided that Client shall procure that any such
third party first agrees in writing to comply with confidentiality obligations in terms equivalent to those contained in this clause 36 for the benefit of the Contractor. 

  

 73 

	37.	ANNOUNCEMENTS/PUBLICITY 

 Save as otherwise set out
in this Agreement, no announcement, circular, advertisement or other publicity in connection with this Agreement, its subject matter, the fact that the parties are parties to it or any ancillary matter, including relating to a Work Contract, will be
made or issued by or on behalf of Client or the Contractor (save, subject to what is set out in clause 36.5, as required by law) without the prior written consent of the Authorised Representative of the other of them (such consent not to be
unreasonably withheld or delayed). 
  

	38.	ENTIRE AGREEMENT 

  

	38.1	This Agreement and the Data Protection Agreement and all Work Contracts made under this Agreement contain all terms which the parties have agreed in relation to the subject matter
of this Agreement, and supersede any prior written or oral agreements, representations or understandings between the parties in relation to such subject matter. 

  

	38.2	The parties acknowledge that this Agreement, the Data Protection Agreement and all Work Contracts made under this Agreement have not been entered into wholly or partly in reliance
on, nor has any party been given any warranty, statement, promise or representation made by or on their behalf and other than as expressly set out in this Agreement, the Data Protection Agreement and all Work Contracts made under this Agreement. To
the extent that any such warranties, statements, promises or representations have been given, the recipient party unconditionally and irrevocably waives any claims, rights or remedies which it might otherwise have in relation to them.

  

	38.3	Nothing in this clause 38 will exclude nor limit any liability which a party would otherwise have to another of the parties in respect of any statements made
fraudulently. 

  

	39.	NOTICES 

 Services of Contractual Notices 

  

	39.1	Any notice, demand or communication in connection with this Agreement will be in writing and may be delivered by hand, Special Delivery post or facsimile (but not by email),
addressed to the recipient at its registered office or its address or facsimile number as the case may be stated in clause 39.4 below and will be marked for the attention of the individual(s) stated in clause 39.4 (or such
other address or facsimile number or person which the recipient has notified in writing to the sender in accordance with this clause 39, to be received by the sender not less than seven Business Days before the notice is despatched).

  

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	39.2	The notice, demand or communication will be deemed to have been duly served: 

  

	 	    39.2.1  	if delivered by hand, at the time of delivery; 

  

	 	    39.2.2  	if delivered by Special Delivery post, 48 hours after being posted or in the case of Airmail, ten Business Days after being posted; 

  

	 	    39.2.3  	if delivered by facsimile, at the time of transmission, provided that a confirming copy is sent by Special Delivery or Airmail post to the other party within 24 hours after
transmission; 

 provided that, where in the case of delivery by hand or transmission by facsimile, such delivery or
transmission occurs either after 4.00 pm on a Business Day, or on a day other than a Business Day, service will be deemed to occur at 9.00 am on the next following Business Day (such times being local time at the address of the recipient).

  

	39.3	Service by facsimile is a valid means of service only where service of the original notice, demand or communication is not required. 

  

	39.4	The addresses and facsimile numbers for the parties are as follows: 

  

			
	Client	  	Contractor
		
	FAO The Company Secretary	  	FAO The President
		
	Centrica plc	  	EXL US
		
	 Millstream, Maidenhead Road,
 Windsor, Berkshire, SL4 5GD

	  	 350 Park Avenue, 10th Floor,
 New York, NY 10022, USA

		
	Facsimile: +44 1753 494602	  	Facsimile: (+1) 212-277-7111

  

	39.5	For the avoidance of doubt the service of any notice in accordance with the above provisions on EXL US addressed to 350 Park Avenue, 10th Floor, New York, NY 10022, USA shall
constitute effective service of such nature on the Contractor. 

  

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 Service of Court Documents 
  

	39.6	For the avoidance of doubt, where proceedings have been issued in the Courts of England and Wales, the provisions of the Civil Procedure Rules must be complied with in respect of
the service of documents in connection with those proceedings. 

  

	39.7	EXL US and EXL India irrevocably agrees that any claim form, order, judgment or other process (“Service Document”) may be sufficiently and effectively served on
both EXL US and EXL India in connection with any proceedings in England and Wales arising out of or in any way connected after this Agreement (“proceedings”) by service on the United Kingdom service agent at ExlService (UK) Limited,
Russell Bedford House, City Forum, 250 City Road, London EC1V 2QQ (the “agent” for service). 

  

	39.8	If the agent referred to in clause 39.7 (or any replacement agent notified by EXL US and EXL India to Client in writing from time to time) ceases for any reason to act
as such, EXL US and EXL India will forthwith appoint a replacement agent having an address for service in England or Wales and immediately notify Client of this change in writing. 

  

	40.	WAIVER 

  

	40.1	The failure or delay by any party to this Agreement in exercising any right, power or remedy of that party under this Agreement will not in any circumstances impair such right,
power or remedy nor operate as a waiver of it. 

  

	40.2	Subject as expressly provided in this Agreement the rights, powers and remedies provided in this Agreement are exclusive of any rights, powers and remedies provided by law.

  

	40.3	Any waiver of a breach of, or default under, any of the terms of this Agreement will not be deemed a waiver of any subsequent breach or default and will in no way affect the other
terms of this Agreement. 

  

	41.	INVALIDITY AND SEVERABILITY 

 If at any time any
clause or part of this Agreement or any Work Contract is found by any court, tribunal or administrative body of competent jurisdiction to be wholly or partly illegal, invalid or unenforceable in any respect under the law of England and Wales or
India: 
  

	41.1	that will not affect any other provisions of this Agreement or Work Contract which will remain in full force and effect except where it deprives one of the parties of a substantial
part of the benefit intended to be derived by it from this Agreement or Work Contract without providing any corresponding benefit; 

  

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	41.2	the parties will in good faith amend and, if necessary, novate this Agreement or Work Contract to reflect as nearly as possible the spirit and intention behind that illegal, invalid
or unenforceable provision so that the amended clause complies with the laws of that jurisdiction; and 

  

	41.3	if the parties cannot agree upon the terms of any amendment or novation within six months of the date upon which a clause was determined to be wholly or partly illegal, invalid or
unenforceable, then the parties agree to submit the terms of the amendment or novation to a mediator at the Centre for Effective Dispute Resolution for determination. The parties agree that the mediator’s decision in this respect will be final
and binding. 

  

	42.	ASSIGNABILITY 

  

	42.1	The Contractor may not assign, delegate, transfer or otherwise dispose of any of its rights or responsibilities under this Agreement without the prior written consent of Client,
such consent not to be unreasonably withheld or delayed. 

  

	42.2	Subject to clause 42.4, Client may without consent assign, delegate or transfer its rights or responsibilities under this Agreement to any member of the Client Group
company from time to time provided that there is no change to the jurisdiction to which the Client must provide the Services and no change to the nature of Services being provided by the Contractor. Client will serve a written notice upon the
Contractor prior to exercising its right pursuant to this clause 42.2. 

  

	42.3	Subject to clause 42.4, in the event that clause 42.2 does not apply, Client may assign, delegate, transfer or otherwise dispose of its rights or
responsibilities under this Agreement to any company from time to time provided that such company’s most recently published balance sheets and a current credit rating (procured from Standard & Poors or an equivalent reputable
international credit reference agency acceptable to both Client and the Contractor) collectively indicate to the reasonable satisfaction of Client and the Contractor that such company is sufficiently creditworthy to carry out the obligations of
Client under this Agreement. Client will serve a written notice seeking consent from the Contractor prior to exercising its right pursuant to this clause 42.3, such consent not to be unreasonably withheld or delayed.

  

 77 

	42.4	Client may not assign or transfer its rights or responsibilities under this Agreement to any of the ten largest UK-based entities whose sole or primary activities are the carrying
on of the business of the provision of life insurance services or the ten largest UK-based entities whose sole or primary activities are the carrying on of the business of the provision general insurance services. 

  

	43.	GROUP BENEFIT 

  

	43.1	Companies which are a member of the Client Group have the right to enforce any terms of this Agreement which confer a benefit upon them in accordance with the Contracts (Rights of
Third Parties) Act 1999. 

  

	43.2	The parties reserve the right to rescind or vary this Agreement or waive, modify or vary any term of it without the consent of any Client Group companies (save for Client).

  

	44.	SUBCONTRACTING 

  

	44.1	The Contractor shall not be entitled to appoint a contractor or an agent for the provision of any part of the Services without the prior written consent of Client and, if Client
grants such consent, the agent or contractor so appointed will be a “Permitted Contractor”. 

  

	44.2	In the event that the Contractor appoints a Permitted Contractor the Contractor shall, as between Client and the Contractor, be liable for the acts or omissions of the Permitted
Contractor as if they were the Contractor’s own acts or omissions including compliance with the KPIs. 

  

	44.3	Each Permitted Contractor must enter into a confidentiality agreement with the Contractor for the benefit of Client, strictly in the form set out in Schedule 1. Until
such a confidentiality agreement is signed the Permitted Contractor shall not commence its services for the Contractor and shall not be granted any access to any Confidential Information. 

  

	45.	NO PARTNERSHIP 

  

	45.1	Nothing contained in this Agreement, and no action taken by the parties pursuant to this Agreement, will be deemed to constitute a relationship between the parties of partnership,
joint venture, principal and agent or employer and employee. Neither of Client or the Contractor has, nor may it represent that it has, any authority to act or make any commitments on the other’s behalf, other than as expressly stated in this
Agreement or as required for the purposes of providing the Services pursuant to this Agreement. 

  

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	46.	AMENDMENT 

  

	46.1	No amendment to the Agreement will be effective unless it is agreed in writing and signed by a duly Authorised Representative of each of Client and the Contractor (who is in each
case an individual of escalation stage 2 or higher in clause 31.3.) 

  

	47.	LAW AND JURISDICTION 

  

	47.1	The formation, existence, construction, performance, validity and all aspects whatsoever of this Agreement or of any term of this Agreement or of any Work Contract entered into
pursuant to this Agreement will be governed by English law. 

  

	47.2	Subject to clause 31.4, the courts of England will have exclusive jurisdiction to settle any disputes which may arise out of or in connection with this Agreement. The
parties irrevocably agree to submit to that jurisdiction. 

  

	48.	COUNTERPARTS 

 This Agreement may be entered into by
the execution by the parties of this document, or by the execution by the parties of two or more identical copies of this document including by facsimile (in this latter case, each copy will be deemed to be a counterpart, and all such documents
taken together will be deemed to form one contract). 
  

	49.	NON-SOLICITATION 

 Save where agreed pursuant to an
Exit Plan or where expressly permitted pursuant to clause 33.10 and Schedule 14, Client agrees that it shall not during the term of this Agreement solicit for the purposes of employment members of staff of the Contractor
engaged in the performance of the Services. For the avoidance of doubt this shall not preclude Client offering employment to any person approaching Client in response to a published advertisement (not specifically directed at Staff) with no
inducement or solicitation on the part of Client. 
 AS WITNESS the hands of the duly authorised representatives of the parties on the date stated at
the beginning of this Agreement. 
  

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	SIGNED by Mark Clare	  	)
	duly authorised to sign for and on behalf of	  	)
	CENTRICA plc	  	)
	in the presence of:	  	)
		
	SIGNED by Rohit Kapoor	  	)
	duly authorised to sign for and on behalf of	  	)
	EXLSERVICE HOLDINGS, INC.	  	)
	in the presence of:	  	)
		
	SIGNED by Vikram Talwar	  	)
	duly authorised to sign for and on behalf of	  	)
	exl Service.com (India) Private Limited	  	)
	in the presence of:	  	)

  

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