Document:

Relationship Agreement, dated as of December 16, 2009

 Exhibit 10.1 
 Relationship Agreement 
 This relationship agreement (the
“Agreement”) is made effective as of the 16th day of Dec 2009 (the “Effective Date”), by and between: 
  

	1.	Eros International Media Limited, a company established and existing under the laws of the Republic of India (“EIML”), 

 

	2.	Eros International plc, a company established and existing under the laws of Isle of Man (“Eros plc”), and 

 

	3.	Eros Worldwide FZ LLC, a company established and existing under the laws of Dubai (“EWW”). 

For purposes of this Agreement, EIML and its existing subsidiaries, Big Screen Entertainment Private Limited, Eyeqube Studios Private Limited, Eros
International Films Private Limited, Copsale Limited, Eros Animation Private Limited, Eros Music Publishing Private Limited, and any other subsidiaries of EIML as may exist from time to time, shall collectively be referred to as the “Eros
India Group”. For the avoidance of doubt, the Eros India Group shall exclude Ayngaran International Limited and its subsidiaries (the “Ayngaran Group”). Eros plc and EWW, together with Eros International Limited, a company
established and existing under the laws of England and Wales, Eros Network Limited, a company established and existing under the laws of England and Wales, Eros Pacific Limited, a company established and existing under the laws of Fiji, Eros
Australia Pty Limited, a company established and existing under the laws of Australia and Eros Entertainment Inc., a company established and existing under the laws of the State of Delaware, shall collectively be referred to as the “Eros
International Group”. Each of these expressions shall, unless repugnant or contrary to the context or meaning thereof, be deemed to mean and include their respective successors and permitted assigns. 

Each of EIML, Eros plc, and EWW shall each individually be referred to as “Party” and collectively be referred to as
“Parties”. 
 WHEREAS 
  

	1.	The Eros India Group is primarily engaged in, inter alia, the business of acquiring rights to Indian Film (as defined herein) content by producing, co-producing
and acquiring Indian Films and the distribution of such Indian Film content within the Territory (as defined herein) in a variety of formats. 

  

	2.	The Eros International Group is primarily engaged in, inter alia, the business of distributing Indian film content globally in a variety of formats by typically
acquiring the Film Rights (as defined herein), including all applicable Intellectual Property Rights (as defined herein), of Indian Films, from the Eros India Group for distribution in geographies outside the Territory. 

 

	3.	The Parties have now agreed to enter into this Agreement to record the principal terms of their relationship and the manner in which their respective expertise and
resources shall be shared beginning as of the Effective Date. 

 Now, therefore, in consideration of the mutual covenants and
agreements set forth herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereto agree as follows: 

 

	1.	Definition and Interpretation: 

 In this
Agreement, unless the context otherwise requires, the following expressions shall have the following meaning: 
 “Applicable
Taxes” shall mean all taxes (direct or indirect), withholdings, cess, levies, octroi, duties, claims, demands etc. 

  
 1 

 “Business Opportunity” has the meaning attributed to it in clause 5 of this
Agreement. 
 “Confidential Information” shall mean: 

 

	(i)	the contents of this Agreement; 

  

	(ii)	any information concerning the organization, business, technology, trade secrets, know-how, finance, transactions or affairs of a Party or any of its affiliates,
directors, officers or employees (whether conveyed in written, oral or in any other form and whether such information is furnished before, on or after the Effective Date); 

 

	(iii)	any material or information, which results in the violation of any terms and conditions of this Agreement and disclosed to a Party by another Party for the purpose of
this Agreement, including any information of any kind whatsoever which is made known to a Party as being confidential in nature; and 

  

	(iv)	any information or materials prepared by a Party or its representatives that contains or otherwise reflects, or is generated from such confidential information.

 “Distribution Expenses” shall mean and include all actual direct out-of-pocket costs and expenses
accrued or otherwise in connection with the exploitation of Film Rights, in accordance with and subject to the terms and conditions of this Agreement, including, without limitation, the following costs: 

 

	(i)	manufacturing of prints, subtitling, dubbing and editing; 

  

	(ii)	advertising, promoting and publicizing the Indian Films in publications, radio and television, previews, displays and other media; 

 

	(iii)	third party commissions; 

  

	(iv)	freight, insurance (if any), storage; and 

  

	(v)	permit fees and sales, use, remittance, transfer and other taxes on goods, however denominated. 

 “Distribution Rights” shall mean any and all commercial and non-commercial rights, to distribute, supply, license, market and exploit the Indian Films through all forms of media,
whether existing as of the Effective Date or arising thereafter, including but not limited to (i) theatrical rights and non-theatrical rights in all formats (including 70mm / 35min / 16mm / 8mm), including theatrical / home video rights;
(ii) ship, high seas, surface transport rights, including railways rights; (iii) internet, multimedia and broadband rights; (iv) videogram rights including video copyrights, video digital versatile disc, compact disc, delivery on any
format, laser disc video compact disc including visual songs or any other mode of video; (v) computer game rights; (vi) Indian Film clippings and clip rights ; (vii) merchandising rights; (viii) rental rights;
(ix) terrestrial television rights; (x) pay-per-view; (xi) hotel rights; (xii) mechanical synchronization rights; (xiii) broadcasting rights; (xiv) video on demand; (xv) synchronized songs / music rights; and
(xvi) non-exclusive satellite television rights, but excluding only India Television Rights (as defined herein). 
 “Film
Rights” shall mean: 
  

	(i)	all applicable Intellectual Property Rights and all other rights of any kind in, and to the Indian Films, including, screenplays, soundtracks and music for such Indian
Films, including all footage shots in relation to such Indian Films; 

  

	(ii)	Sound Recording Rights associated with each Indian Film; and 

  

	(iii)	Distribution Rights. 

 “Gross
Proceeds” shall mean all monies received from the exploitation of the Film Rights or Non-Film Music Publishing Rights, as the case may be, or any related ancillary Film Rights or Non-Film Music Publishing Rights. 

“Indian Film(s)” shall mean cinematographic films produced, co-produced or acquired within the Territory, in Hindi or any other
Indian regional language (excluding Tamil language films), for exhibition within and outside the Territory. 

  
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 “India Television Rights” shall mean the right to exploit the Indian Films through
all forms of television including but not limited to cable television, terrestrial television, internet protocol television (“IPTV”) and direct to home (“DTH”) television, as well as airborne rights (meaning the
right to show or play the Indian Films in any manner or means as approved by any airline anywhere) within and outside the Territory, and satellite television for India and the non-exclusive right to allow licensing to channels within India to
broadcast the films on their international feeds. 
 “Intellectual Property Rights” shall mean all patents, trade marks,
service marks, logos, trade names, rights in designs, copyrights and moral rights, database rights, utility models, rights in know-how, re-make rights and other intellectual property rights, in each case whether registered or unregistered and
including applications for registration, and all rights or forms of protection having equivalent or similar effect anywhere in the world which are held, beneficially owned or licensed. 
 “Minimum Guarantee Fee” has the meaning attributed to it in clause 2.1.3 of this Agreement. 
 “Non-Film Music Publishing Rights” shall mean and include the rights, held by the Eros India Group outside the Territory, other than with respect to Indian Films for which they
hold Film Rights, to record, print, perform, broadcast, reproduce, distribute and sell musical compositions / songs / albums, in whatever form, including, without limitation, physical recordings such as CDs, DVDs, audio / video cassettes, online and
wireless downloads, mobile phone ringtones, public broadcast of music on television, radio, cable and satellite, live performance at a concert or other venue and online and wireless streaming, including all applicable Intellectual Property Rights in
relation thereto. 
 “Payment Reports” has the meaning attributed to it in clause 6.2 of this Agreement. 

“Production Costs” shall mean all the costs, including Applicable Taxes, levies, interest charges or other costs of financing and
all other amounts incurred in connection with the acquisition, pre-production, production and post-production of an Indian Film. 

“Sound Recording Rights” shall with respect to any sound recording of any musical compositions / songs / albums / sound tracks,
mean and include, the right to reproduce the sound recording, sell or give on hire or offer for sale or hire any copy of the sound recording, communicating the sound recording to the public in any form whatsoever, including, without limitation,
physical recordings such as CDs, DVDs, audio / video cassettes. 
 “Territory” shall mean India, Nepal and Bhutan.

 In this Agreement, the headings are inserted for convenience only and shall not affect the construction of this Agreement. 

Unless the context requires otherwise, words incorporating the singular shall include the plural and vice versa and words importing a gender shall
include every gender. 
  

	2.	Assignment of Rights 

  

	2.1	Assignment of Film Rights 

  

	2.1.1	With respect to Indian Films for which the Eros India Group holds Film Rights outside the Territory, EWW hereby agrees to acquire from EIML, and EIML agrees to grant,
such Film Rights, and to cause the other entities within the Eros India Group to grant to EIML such Film Rights to enable it to assign and transfer such Film Rights to EWW, absolutely and unconditionally, on an exclusive basis, with a right to
further assign and transfer such Film Rights to other entities within the Eros International Group for exploitation outside the Territory. 

 Provided, however, that nothing contained herein shall apply to the commitments made by the Eros India Group for the assignment of Film Rights to EWW and / or the Eros International Group companies, which
are existing as of the Effective Date. 

  
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	2.1.2	For the abundance of clarity, the Eros India Group shall retain the Film Rights and the India Television Rights for all Indian Films within the Territory.

  

	2.1.3	For each Indian Film for which the Eros International Group has been assigned rights pursuant to clause 2.1.1 above, EWW shall provide a lump sum minimum guarantee fee
(the “Minimum Guarantee Fee”) to EIML, which Minimum Guarantee Fee shall be an amount equal to 30% of the Production Cost of each such Indian Film borne by the Eros India Group with an additional markup of 30% thereon.

  

	2.1.4	The Gross Proceeds received by the Eros International Group from the exploitation of Film Rights outside the Territory, shall be shared between the Eros International
Group on the one hand, and the Eros India Group on the other hand, in the ratio of seventy percent (70%) and thirty per cent (30%), respectively, provided that the Eros International Group shall first be entitled to retain:

  

	(a)	The Minimum Guarantee Fee with respect to each Indian Film; 

  

	(b)	A commission of 20% of the Gross Proceeds; and 

  

	(c)	Distribution Expenses incurred by the Eros International Group, if any, and the Distribution Expenses reimbursed by EWW pursuant to clause 2.1.5 below.

  

	2.1.5	The Distribution Expenses, if any, incurred by the Eros India Group and pre-approved by the Eros International Group, shall be reimbursed by EWW, on behalf of the Eros
International Group, within ninety (90) days, or such further period as may be mutually agreed, of such request for reimbursement being made by the Eros India Group. In addition to the reimbursement of such Distribution Expenses, the Eros India
Group shall be entitled to receive a markup of thirty percent (30%) of such pre-approved Distribution Expenses. 

  

	2.1.6	EWW and the applicable Eros India Group company shall enter into a Film Rights Acquisition Agreement for each Indian Film, in the form set forth in Exhibit A to this
Agreement. 

  

	2.1.7	The validity of the Film Rights assigned and transferred to EWW shall be co-terminus with such rights held by the Eros India Group. 

 

	2.2	Non-Film Music Publishing Rights 

  

	2.2.1	With respect to Non-Film Music Publishing Rights outside the Territory, EWW hereby agrees to acquire such rights from EIML, and EIML agrees to grant and to cause other
entities within the Eros India Group to grant to EIML such rights to enable it to assign and transfer such rights to EWW, absolutely and unconditionally, on an exclusive basis, with a right to further assign such Non-Film Music Publishing Rights to
the other Eros International Group companies. 

  

	2.2.2	The Gross Proceeds received by the Eros International Group from the exploitation of the Non-Film Music Publishing Rights shall be shared between the Eros India Group
on the one hand, and the Eros International Group on the other hand, in the ratio of seventy five per cent (75%) and twenty five per cent (25%), respectively, provided that the Eros International Group shall first be entitled to retain
Distribution Expenses incurred by the Eros International Group in connection with such Music Publishing Rights, if any, and the Distribution Expenses reimbursed by EWW pursuant to clause 2.2.3 below. Where Non-Film Music Publishing Rights are
distributed on a commission only basis, the Eros International Group will act as a sub-agent outside of India and retain the lower of 25% of Gross Proceeds or 75% of the commission due to Eros India Group. 

 

	2.2.3	The Distribution Expenses in respect of such Non-Film Music Publishing Rights, if any, incurred by the Eros India Group and pre-approved by the Eros International
Group, shall be reimbursed by EWW, on behalf of the Eros International Group, within ninety (90) days, or such further period as may be mutually agreed, of such request for reimbursement being made by the Eros India Group. In addition to the
reimbursement of such Distribution Expenses, the Eros India Group shall be entitled to receive a markup of thirty percent (30%) of such pre-approved Distribution Expenses. 

  
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	3.	Other expenses 

 EWW, on
behalf of the Eros International Group, shall reimburse the Eros India Group for all pre-approved expenses incurred by the Eros India Group, on behalf of the Eros International Group from time to time, within ninety (90) days, or such further
period as may be mutually agreed, of such request for reimbursement being made by the Eros India Group. 
  

	4.	Withholding Taxes 

 If
either Party is required to pay withholding or other taxes on any payments made pursuant to this Agreement, then such Party shall pay to the other Party an amount sufficient to gross-up such withholding or other tax so that the other Party’s
net payments received under this Agreement are not diminished by any such taxes that are imposed with respect to such payments. 
  

	5.	Non-Compete 

 Except in
the manner contemplated in this Agreement and subject to any commitments to third parties existing as of the Effective Date, each of EWW and Eros plc agrees that neither it nor its subsidiaries or affiliates shall produce, co-produce or acquire Film
Rights in any Indian Film and Tamil language films or any Non-Film Music Publishing Rights, for exploitation within the Territory in any manner or engage in developing, broadcasting or otherwise distributing content thereof (including, without
limitation, any pre-production, production, post-production, animation, gaming or television broadcasting activities) (each, a “Business Opportunity”), unless they have first provided EIML the right to independently participate in,
or acquire, as the case may be, such Business Opportunity. In the event EIML expresses in writing its intention not to participate in any such Business Opportunity, the Eros International Group shall be entitled to engage in such Business
Opportunity; provided, however that, the applicable Film Rights and the India Television Rights for the Territory for such Indian Films or Non-Film Music Publishing Rights, as the case may be, shall first be offered to the Eros India Group. The
non-compete provisions of this Agreement shall not apply to English language films. EIML further agrees that the Ayngaran Group shall only produce, co-produce and acquire Tamil language films, and shall not produce, co-produce or acquire Film Rights
in any Indian Film(s). 
  

	6.	Reporting, Accounting and Payment Procedures 

  

	6.1	Payments of Minimum Guarantee Fee, as provided in clause 2.1.3 of this Agreement, shall be made by EWW to EIML on the earlier of (i) delivery of the applicable
Indian Films or relevant music recording(s) pursuant to this Agreement, or (ii) the expiry of the date stipulated in the invoice issued in respect of the relevant Film Rights or Non-Film Music Publishing Rights, which has been duly accepted by
EWW. 

  

	6.2	EWW and EIML shall furnish (on behalf of the Eros International Group and the Eros India Group, respectively) to each other, on a quarterly basis, within forty five
(45) days, or such further period as may be mutually agreed, from the end of each quarter, revenue and payment detail reports (the “Payment Reports”) for payments to be made pursuant to this Agreement, in a format approved by
the other Party, which format may change from time to time on the basis of the other Party’s good faith and discretion. The Payment Reports shall (with respect to EWW), among other things, indicate with specificity, on a territory-by-territory
basis, all Gross Proceeds with respect to each Indian Film and the payments and fees generated from, and attributable to, the exploitation of the Film Rights and Non-Film Music Publishing Rights outside the Territory, as per the terms and conditions
of this Agreement. The Payment Reports may be corrected, adjusted or supplemented, from time-to-time to reflect adjustments, uncollectible amounts or errors. No Payment Reports need to be rendered for any accounting period during which there are no
Gross Proceeds to be reported. 

  
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	6.3	Payments as per the Payment Reports prepared and furnished as provided in clause 6.2 of this Agreement, i.e., excluding payments of the Minimum Guarantee Fee as per
clause 6.1 of this Agreement, shall be made by each of EWW and EIML, respectively, as the case may be, within ten (10) days, or such further period as may be mutually agreed including by reason of any correction, adjustment or supplemented as
specified in clause 6.2 of this Agreement, from the date of receipt by it of each such Payment Report. 

  

	6.4	Each of EWW or EIML may retain a mutually acceptable recognized independent auditor to review and audit the other party’s relevant records to confirm the
performance of payment obligations in respect of Payment Reports prepared and furnished under this Agreement upon thirty (30) days prior written notice. Such audit shall: (a) be subject to the auditee’s reasonable security and
confidentiality requirements including under this Agreement; (b) occur no more than once per year and not during the first or last three (3) weeks of a calendar quarter, and (c) transpire during the auditee’s normal business
hours. If such audit shows an underpayment for any period of time, such auditee shall, within 30 days after completion of such audit, pay or credit such underpaid amounts to the auditing party and, in the event that such audit shows an underpayment
to the auditing party of 10% or more, the auditee will reimburse the auditing party its reasonable costs actually incurred for carrying out such audit. If the audit shows an overpayment to the auditing party for any period of time, such auditing
party shall, within 30 days after completion of such audit, pay such overpaid amounts to the auditee. Except as otherwise set forth above, all expenses associated with such audit shall be paid by the auditing party. 

 

	6.5	All amounts payable under this Agreement shall be subject to applicable transfer pricing laws, and shall be set-off against any amounts owed or payable at such time by
EIML to EWW. 

  

	7.	Local Currency 

 All
amounts payable under this Agreement by EIML to EWW and / or the Eros International Group shall be paid in United States Dollars, as converted from Indian Rupees and all amounts payable by EWW and / or the Eros International Group to EIML and / or
the Eros India Group shall be in United States Dollars, as converted from British Pound Sterling. All amounts shall be payable using the applicable exchange rate on the date of invoice and the Party receiving the payment shall bear all risk from
fluctuation of such currencies. 
  

	8.	Indemnity 

 The Parties
mutually undertake to indemnify the other against all liabilities, claims, demands, actions, costs, damages or loss arising out of any breach by any Party of any of the terms of this Agreement. 

 

	9.	Term 

 This Agreement
shall be valid for an initial term of five (5) years, from the Effective Date. Thereafter, this Agreement shall be automatically renewed for successive two (2) year terms unless terminated by any Party by ninety (90) days written
notice given to the other Parties on or before the commencement of any such renewal term, provided that the terms of this Agreement (including any renewed form thereof) may be reviewed on an annual basis as is reasonable and to the mutual
satisfaction of the Parties for the purpose of determining the terms upon which this Agreement shall be so renewed. 
  

	10.	Termination 

Notwithstanding anything contained to the contrary in clause 9 above, each of the Parties shall be entitled, at any time, by giving thirty
(30) days prior written notice to the other Parties, to terminate this Agreement forthwith in any of the following events: 
  

	 	(a)	if any Party commits a material breach of any of the terms or conditions of this Agreement and fails to remedy the same within thirty (30) days of being required
in writing by the non-breaching Party / Parties so to do; or 

  
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	 	(b)	if the shareholding of Eros plc, directly or indirectly, in EIML falls below 50.1%; or 

 

	 	(c)	if any of the Parties goes into voluntary or involuntary liquidation or where either of the Parties is declared insolvent either in bankruptcy proceedings or other
legal proceedings. 

 Neither the expiration nor termination of this Agreement shall release any of the Parties
from the obligation to perform any other duty or to discharge any other liability that had been incurred prior thereto. Upon termination of this Agreement, the terms and conditions of this Agreement shall continue to apply to the Indian Films which
have been delivered by the Eros India Group to the Eros International Group as of the date of such termination. Upon such termination, this Agreement shall terminate as to any of the Indian Films or relevant music recording(s), as the case may be,
which have not been delivered to the Eros International Group as of the date of such termination, whether or not in development or production. 
  

	11.	Confidentiality 

 Each
Party undertakes that it shall not reveal, and shall use its best efforts to ensure that its representatives do not reveal to any third party, any Confidential Information without the prior written consent of the other Party. The provisions of this
clause 11 shall not apply to: 
  

	 	(a)	disclosure of Confidential Information that is, or becomes generally available to the public, other than as a result of disclosure by or at the direction of a Party or
any of its representatives in violation of this Agreement; or 

  

	 	(b)	disclosure by a Party to its representatives provided such representatives are bound by similar confidentiality obligations; or 

 

	 	(c)	disclosure, after giving prior notice to the other Parties to the extent required under law. 

Provided that each Party hereby agrees and acknowledges that disclosure of this Agreement may be required in connection with the
preparation of a prospectus, private placement memorandum / information memorandum or other similar securities offer document and not withstanding the confidentiality provisions contained herein, such disclosures are expressly permitted under this
clause 11. 
  

	12.	Miscellaneous 

  

	12.1	The Parties shall ensure that the respective companies procure all consents, authorizations, approvals, licenses and permits as may be required, from any regulatory,
statutory and governmental authorities, and other relevant third parties, for consummation of the transactions contemplated herein. 

  

	12.2	This Agreement shall be governed and interpreted by, and construed in accordance with the law of the England and Wales and shall be subject to the jurisdiction of the
courts in England. 

  

	12.3	 In the event a dispute arises in connection with the validity, interpretation, implementation or breach of any provision of this Agreement, the Parties
shall attempt, in the first instance, to resolve such dispute through negotiations within thirty (30) days from a Party making a written request there for. In the event that the dispute is not resolved through negotiations, or such negotiations
do not commence within thirty (30) days of a written request in this behalf, either Party may refer the dispute to arbitration. Each of EIML on the one hand, and EWW and Eros plc on the other hand, shall nominate one arbitrator and in the event
of any difference between the two arbitrators, a third arbitrator / umpire shall be appointed. The arbitration proceedings shall be in accordance with the Rules of Conciliation and Arbitration of the London Court of International Arbitration. The
law governing the present arbitration agreement shall be the laws of United Kingdom. Proceedings in such arbitration shall be conducted in the English language. The arbitration award shall be substantiated in writing and shall be final and binding
on the Parties. The venue of arbitration shall be London, United Kingdom. Each Party shall bear its own costs in connection with such arbitration. The existence of a dispute between the Parties, or the commencement or continuation of

  
 7 

	 	
arbitration proceedings shall not, in any manner, prevent or postpone the performance of those obligations of Parties under this Agreement which are not in dispute, and the arbitrator(s) shall
give due consideration to such performance, if any, in making their final award. 

  

	12.4	Any provision of this Agreement which shall be held invalid, void or illegal shall in no way affect, impair or invalidate any of the other provisions hereof and such
other provisions shall remain in full force and effect. 

  

	12.5	Any notice between the Parties relating to this Agreement shall, except as otherwise expressly provided herein, be sent by hand delivery, by registered post or airmail,
or by facsimile transmission addressed to the Parties at the following addresses and facsimile addresses: 

 If to the EIML or the
Eros India Group: 
 Satya Dev Building, 2nd Floor 
 Off New Link Road, Andheri West 
 Mumbai 400 053 

India 
 Phone:
+91 22 4053 8500 
 Fax: +91 22 4053 8540 
 If to Eros plc: 
 15-19 Athol Street 

Douglas, Isle of Man, IM1 1LB 
 Phone: +44 8700 418 211 
 Fax: +44 8700 418 212 

If to EWW: 
 529 Building
No. 8 
 Dubai Media City 
 P.O. Box 502121 
 Phone: +971 4390 2825 

Fax: +971 4390 8867 
  

	12.6	Except as may be provided in this Agreement, no Party shall assign its rights or obligations under this Agreement without the prior written consent of each of the other
Parties. Any amendment or alteration to this Agreement must be in writing and signed by an authorized signatory of each Party; provided, however, that the Parties hereby agree that in the event that the Eros International Group enters into any
agreement or other arrangement with a third party with respect to the exploitation of the Film Rights of Indian Films for a region outside the Territory, the Parties shall in good faith negotiate and seek to enter into an amendment to this Agreement
providing such third party with the rights and obligations necessary to facilitate such exploitation of the Film Rights. 

  

	12.7	Neither Party shall be liable to the other for any breach of, or failure of performance under this Agreement caused by or resulting from any act of god, strikes,
lock-outs, insurrection, war, riots, terrorist acts, man-made disasters or any other cause beyond its reasonable control (each an event of “force majeure”). If one Party is affected by an event of force majeure it shall forthwith
notify the other of the occurrence of such event. 

  

	12.8	Nothing expressed or implied in this Agreement is intended, or shall be construed, to confer upon or give any person other than the Parties hereto and their respective
successors and permitted assigns, any rights or remedies under or by reason of this Agreement. 

  
 8 

 IN WITNESS WHEREOF the parties hereto have signed and executed this Agreement on the day and date
hereinabove written. 
  

									
	 For and on behalf of Eros

International Media

Limited
	  		  	 For and on behalf of

Eros International plc
	  		  	 For and on behalf of Eros Worldwide
 FZ LLC

					
	/s/ Sunil Lulla	  		  	/s/ Dilip J. Thakkar	  		  	/s/ Surender Sadhwani
	 Authorised Signatory

Name:
 Designation:

Date:
	  		  	 Authorised Signatory
 Name:
Dilip J. Thakkar
 Designation: Director

Date:
	  		  	 Authorised Signatory
 Name:
Surender Sadhwani
 Designation: Director

Date:

  
 9 

 Exhibit A 
 Form of Film Rights Acquisition Agreement 
 FILM RIGHTS ACQUISITION
AGREEMENT 
 This Agreement dated the 16th Dec 2009 is made between 
  

			
	 	  	Between
		
	 Eros International Media Limited

Satya Dev Building, 2nd Floor
 Off New Link Road,
Andheri West
 Mumbai 400 053

India
 Phone: +91 22 4053 8500

Fax: +91 22 4053 8540
	  	 Eros Worldwide FZ LLC
 529
Building No. 8 Dubai Media City
 P.O. Box 502121
 Phone: +971 4390 2825
 Fax: +971 4390 8867

		
	The “Owner” which expression shall be deemed to include the successors in title and assigns of the assignor where the context so admits.	  	The “Company” which expression shall be deemed to include the successors in title and assigns of the Company where the context so admits.

 WHEREAS 
  

	 	1.	EIML, Eros plc and EWW have entered into a relationship agreement dated [•], 2009 (the “Relationship Agreement”), to record the principle terms of
their relationship and the manner in which their respective expertise and resources shall be shared. 

  

	 	2.	The Owner and the Company hereby wish to enter into this Film Rights Acquisition Agreement relating to the acquisition of the Film Rights, with respect to Indian
Film(s), as detailed below. 

  

	 	3.	The capitalized terms used herein, but that are not defined, shall have the meaning assigned to such term in the Relationship Agreement dated [•].

 IT IS AGREED AS FOLLOWS: The Owner by its signature agrees to and assigns to the Company the Film Rights in the Indian
Film as more particularly set out in this Agreement, the particulars, the Exhibits hereto and the attached Terms and Conditions. 
 The Owner
acknowledges and confirms that the Owner has read and accepts the attached Terms and Conditions which shall together with the particulars set out in the Relationship Agreement, this Agreement and the Exhibits to this Agreement constitute a full and
binding legal Agreement between the parties. 
  

	1.	Particulars of the Indian Film(s) 

  

					
	Name of the Indian Film	  	:	  	_______________ Hindi (colour)
	Name of the Producer	  	:	  	
	Name of the Director	  	:	  	
	Name of the Music Director	  	:	  	
	Star cast	  	:	  	

  
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	2.	Assigned Rights 

  

	 	(i)	All applicable Intellectual Property Rights and all other rights of any kind in, and to the Indian Film, including, screenplays, soundtracks and music for such Indian
Film, including all footage shots in relation to such Indian Film; 

  

	 	(ii)	Sound Recording Rights associated with each Indian Film, where the Owner holds such rights; and 

 

	 	(iii)	Distribution Rights. 

 All the
aforesaid rights shall be in all sizes, modes and formats, sub-titling in any language and shall include the existing and known rights and rights which may be discovered, invented, introduced or come into existence in future during the term of this
Agreement 
  

					
	3) Assigned Territory	  	:	  	As set forth in the Relationship Agreement.
			
	4) Term (No. of years)	  	:	  	[•] years from the date of this Agreement, subject to the attached Terms and Conditions of this Agreement.
			
	5) Minimum Guarantee Fee	  	:	  	US$ [•].
			
	6) Additional markup retained by EWW/ Group Company with respect to Film Rights	  	:	  	[•]% of the Minimum Guarantee Fee.

 IN WITNESS THEREOF THE PARTIES HAVE EXECUTED THIS AGREEMENT AS A DEED 

 

									
	SIGNED AND DELIVERED AS A DEED	 		 	SIGNED AND DELIVERED AS A DEED
	By [•]	 		 		 	By [•]	 	
			
	 	 		 	 
	AUTHORISED SIGNATORY	 		 	AUTHORISED SIGNATORY

  
 11 

 TERMS AND CONDITIONS 

 

	1.	Owner’s Warranties/obligations: 

 The Owner irrevocably agrees, affirms, declares, warrants and undertakes as follows: 
  

	 	i.	It owns the sole and exclusive, unencumbered and effective rights in and to the said Indian Film(s) for the Assigned Territory(ies) hereby granted and / or assigned and
has not, prior to the signing of this Agreement, granted or in any way transferred the said rights to any other person, company or organization whatsoever. 

 

	 	ii.	It shall not during the period of this Agreement grant in any other way or transfer the rights to the said Indian Film(s) in the Assigned Territory(ies) to any other
person, company or organization whatsoever, and acknowledges that the validity of the Film Rights assigned and transferred to EWW under this Agreement shall be co-terminus with such rights held by the Eros India Group. 

 

	 	iii.	To the best of its knowledge, nothing in the said Indian Film(s) infringes the copyright or any other right of any third party and there are no claims, actions or
proceedings whether actual, pending or threatened affecting the Owner’s copyrights therein or thereto or otherwise in the said Indian Film(s); 

  

	 	iv.	The Owner hereby further unconditionally and irrevocably agrees that it shall not sell, dispose of, distribute, exhibit, exploit or deal or so cause to be so done in
respect of the said Indian Film(s) in any manner whatsoever directly or indirectly in any part of the Assigned Territory(ies). 

  

	 	v.	The Company as against the Owner and all copyright owners (if any) of any other copyrights material included in the said Indian Film(s) shall have the right to defend
or initiate any legal or arbitral proceedings to effect its sole and exclusive right to recover and receive any and all sums payable by way of damages or otherwise in respect of any infringement of copyright in such Indian Film(s) in the Assigned
Territory(ies) during the Term to the extent such infringement involved the media in which the Company has been granted rights in this Agreement. 

  

	2.	Indemnity: 

 The Parties
undertake to keep each other at all times fully indemnified from and against all actions, proceedings, claims, demand costs, legal proceedings, and awards however arising, directly or indirectly, as a result of any beach or non-performance by them
of any of their respective undertakings, warranties or obligations under this Agreement. 
  

	3.	Company’s Warranties and Obligations: 

 The Company shall not distribute, exhibit and exploit the said Indian Film(s) outside the Assigned Territory(ies). 
  

	4.	Further documents: 

 The
Parties hereto agree to execute such further and other documents / instruments /declarations that may be necessary for the purpose of effectually carrying out the purpose and intendments of this Agreement. 

 

	5.	Agreement Final and Complete: 

 This Agreement and the Relationship Agreement contain the full and complete understanding between the parties and supersede all other prior arrangements and understanding whether written or oral
appertaining to the Indian Film(s) detailed in Clause I of this Film Rights Acquisition Agreement. 

  
 12 

	6.	No Partnership: 

 The
Agreement shall not be deemed to constitute a partnership or joint venture or contract of employment between the Parties hereto. 
  

	7.	Jurisdiction: 

 This Film
Rights Acquisition Agreement shall be governed and interpreted by, and construed in accordance with the law of England and Wales and shall be subject to the jurisdiction of the courts in England. 

 

	8.	Assignment: 

 The terms
Owners and Company wherever used in the foregoing paragraphs are intended to mean and include and shall be read and understood respectively as their Assignors and Assignees. 
 IN WITNESS WHEREOF THE PARTIES HAVE EXECUTED THIS AGREEMENT AS A DEED. 
  

					
	SIGNED AND DELIVERED AS A DEED BY [•]	 		 	SIGNED AND DELIVERED AS A DEED BY [•]
			
	  	 		 	  
	AUTHORISED SIGNATORY	 		 	AUTHORISED SIGNATORY

  
 13Shareholders' Agreement, dated as of January 13, 2007

 Exhibit 10.2 

 
  

 
 SHAREHOLDERS’ AGREEMENT

 BETWEEN 
 EROS MULTIMEDIA PRIVATE LIMITED 
 AND 

THE GROUP 

AND 

BIGSCREEN ENTERTAINMENT PRIVATE LIMITED 

Dated as of 13th January 2007 
  

 
  

 This Agreement is made this 13th day of January 2007 by and Between Eros Multimedia Pvt. Ltd., a Company incorporated under Companies Act, 1956 having
its Registered Office at 201, Kallash Plaza, Plot A-12, Opp.Laxmi Indl. Estate, Link Road, Andheri (W), Mumbai 400 053 hereinafter referred to as “EROS” which expression shall, unless repugnant to the subject or context thereof, include
its successors, affiliates and permitted assigns; AND Big Screen Entertainment Pvt. Ltd., a Company incorporated under Companies Act, 1956 having its Registered Office at 301-302/B, Brook Hill Tower, 3rd Cross Lane, Lokhandwala Complex, Andheri (W), Mumbai 400 053
(hereinafter referred to as “the Company”, which expression shall, unless repugnant to the context or meaning thereof be deemed to include its successors) AND (i) Kumar Mangat Pathak and (ii) Neelam Pathak,
(iii) Abhishek Pathak, (iv) Amita Pathak and (v) Sanjeev Joshi, the shareholders of the Company, hereinafter jointly 

  
 2 

 INDEX 

 

							
	 Sr. No.
	  	 Particulars
	  	Article	  	Page No.
	 1
	  	 Preliminary
	  	—  	  	
				
	 2
	  	 Definitions
	  	I	  	4
				
	 3
	  	 Company and its Share Capital, Shareholdings and Completion
	  	II	  	5 – 6
				
	 4
	  	 Corporate Governance and Management of Company
	  	III	  	7 – 10
				
	 5.
	  	 Obligation of Shareholders
	  	IV	  	10 – 12
				
	 6.
	  	 Transfer of Shares
	  	V	  	14 – 14
				
	 7.
	  	 Financing
	  	VI	  	14 – 14
				
	 B.
	  	 Intention to List
	  	VII	  	15
				
	 8.
	  	 Representations, Warranties and Covenants
	  	VIII	  	15 – 16
				
	 9.
	  	 Term and Termination
	  	IX	  	16 – 17
				
	 10.
	  	 Miscellaneous
	  	X	  	17 – 21
				
	 11.
	  	 Schedule 1 – The Company
	  		  	22
				
	 12.
	  	 Schedule 2 – Deed of Adherence
	  		  	23
				
	 13.
	  	 Schedule 3 – Broad terms of Agreement
	  		  	24 – 25

  
 3 

 referred to as “the Group” and individually as “KM”, “NP”,
“Abhishek”, “Amita” and “Sanjeev” which expression shall, unless repugnant to the subject or context thereof, include its successors, affiliates and permitted assigns. 

WHEREAS 
  

	(a)	EROS is a Private Limited Company incorporated under the Companies Act, 1956 (limited by shares) the main object whereof is to carry on in all parts of the World the
business of producing, co-producing, exhibiting, distributing and otherwise exploiting cinematograph and television films and motion pictures of all kinds including advertisement commercial films and to plan, prepare, estimate, develop, supply,
execute and otherwise deal with Internet content, creation and delivery services, commerce, e-commerce, delivery systems, technology related development, audio and or visual, multimedia development , software and hardware development etc. as set out
in its Memorandum of Association; 

  

	(b)	The Company is a Private Limited Company incorporated under the Companies Act, 1956 (limited by shares) the main object whereof is to carry on in India or elsewhere the
business to produce, promote, project, participate, manufacture, exhibit, make, remake, buy, sell, import, export of all kinds of big screen cine films, video films, tele films, documentary films, advertising films, feature films, animation films,
tv serials, slides and other entertainment software in all languages prevailing in India and abroad with its entire shareholding being 10000 paid up equity shares held by the Group free from encumbrances as set out in Schedule 1.

  

	(c)	In accordance with the provision of this agreement the Group desires to sell 64% of its fully paid equity shares to EROS who has agreed to purchase the same at a
mutually agreed price (“purchase price”) free from encumbrances, lien and charge of any nature whatsoever such that the entire management and control of the Company vests with EROS who shall have the exclusive right to appoint the
Chairman, Managing Director and majority of Directors of the Company, 

  

	(d)	The Parties prior to execution hereof have inter alia already entered into a Memorandum of Agreement dated 02.08.2006 wherein some of the terms of this Agreement have
been incorporated. 

 ARTICLE I 

 

	 	a.	DEFINITIONS “Affiliate” shall mean with respect to each party a Person directly or indirectly controlling, controlled by or under joint control with
such Party. As used herein, “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or
otherwise. 

  

	 	b.	“Articles of Association” shall mean the Articles of Association of the Company. 

  
 4 

	 	c.	“Act” or the “said Act” means The Companies Act, 1958 or any statutory modification or re-enactment thereof for the time being in force;

  

	 	d.	“Deed of Adherence” means a deed of adherence to this Agreement substantially in the form contained in Schedule 2. 

 

	 	e.	“Interpretation and References” References to this Agreement shall include Recitals and schedules to this Agreement 

 

	 	f.	“Month” means a calendar month according to the English calendar, 

 

	 	g.	“Memorandum of Association” shall mean the Memorandum of Association of the Company. 

 

	 	h.	“Purchase Price” means the price per share, free from all claims, encumbrances, lien, charge or pledge, of the Company mutually agreed between the parties.

  

	 	i.	“Share” means the equity shares of the Company having the face value of Rs. 10/- each constituting share Capital of the Company; 

 

	 	j.	“Share Capital” shall mean the entire share capital of the Company. 

 

	 	k.	“Shareholders” shall mean EROS and its promoters and the Group. 

  

	 	l.	“Year” means the calendar year 

  

	 	m.	Words importing the masculine gender also include the feminine gender; 

  

	 	n.	Words importing the singular number include, where the context admits or requires, the plural number and vice versa; 

Save as aforesaid any words or expressions defined in the Act shall, if not inconsistent with the subject or context, bear the same
meaning in this Agreement 
 NOW THEREFORE, in consideration of the foregoing premises and the mutual covenants and conditions
contained herein, the parties hereby agree as follows. 
 ARTICLE II 

 

	1.	THE COMPANY AND ITS SHARE CAPITAL 

 The Company “BIG SCREEN ENTERTAINMENT PRIVATE LIMITED” was incorporated as a Private Limited Company limited by shares registered under the Companies Act, 1956 with Authorized Share Capital of
Rs. 10,00,000/- (Rupees Ten Lakhs only) divided into 1,00,000 (One Lakh Only) Equity Shares of Rs. 10/- (Rupees Ten Only) each. The Authorised Capital of the Company shall be increased to Rs.1,10,00,000/- (Rupees One Crore Ten Lakhs only) divided
into 11,00,000 (Eleven Lakhs Only) Equity Shares of Rs. 10/- (Rupees Ten Only) each. The Paid-up Share Capital of the Company shall be Rs.1,01,00,000/- (Rupees One Crore One Lakh Only) divided into 10,10,000 (Ten Lakhs Ten Thousand) Equity Shares of
Rs.10/- (Rupees Ten Only). 

  
 5 

	2.	SHAREHOLDING 

  

	 	(a)	It is agreed between both the parties that EROS shall purchase the 64% of fully paid equity shams of the Company from the Group (which shall include the entire
shareholding of “Amita” and “Sanjeev”) at a mutually agreed price (“purchase price’) free from encumbrances, lien and charge of any nature whatsoever consequent to which the Paid-up Share of the Company shall be held in
the following proportion : 

  

	 	(i)	EROS - EA% of the Paid-up Share Capital divided into 8,400 Equity shares of Rs. 10/- each (hereinafter referred to as “EROS shareholding”) and the Company
shall issue the same to EROS credited and fully Paid-up 

  

	 	(ii)	KM, NP and Abhishek - 36% of the Paid-up Share Capital divided into 3,600 Equity shares of Rs. 10/- each (hereinafter referred to as “the KM, NP and Abhishek
shareholding”) and the Company shall issue the same to KM,NP and Abhishek credited and fully Paid-up 

  

	 	(b)	If at any time further shares are issued by the Company, same shall be first offered to each Party hereto, in proportion to the then existing shareholding ratio of the
Parties with a right to each Party not to accept the shares so offered and in the event of any Party so not accepting the shares the other Party shall have the right to subscribe for the shares so not accepted at the price at which such shares were
offered. 

  

	 	(c)	EROS has in furtherance of this Agreement already paid towards the Purchase Price of the 64% of the Paid up Share Capital of the Company a sum of Rs64,000/- to the
Group, the receipt whereof the Grog admits and acknowledges. 

  

	3.	COMPLETION 

  

	 	(a)	Completion shall take place immediately on signing of this Agreement with the Group in addition to their obligations in clause 15 hereto, undertaking and agreeing to do
the following acts, deeds and things: 

  

	 	(i)	execute transfer in respect of 64% of all the shares of the Company as stated in clause 3 hereof in favour of EROS and their nominees as EROS may desire free from
encumbrances, charge, lien, equity or third party rights 

  

	 	(ii)	deliver all relevant share Certificates and other documents of title and other benefits in respect of the shares together with the books of accounts and all other
papers and record. 

  

	 	(iii)	sign the letters or intimation addressed to the Registrar of Companies in the prescribed forms intimating their transfer of shares in favour of EROS.

  

	 	(iv)	(i) Amita and (ii) Sanjeev shall cease to be the Directors of the Company, 

 

	 	(b)	The Articles of Association of the Company reflects the transfer of 64% of Paid-up Share Capital in favour of EROS and other provisions contained herein with the Group
directing their representatives on the Board of the Company to pass the necessary resolution adopting, confirming, ratifying and signing this Agreement. 

  
 6 

 ARTICLE III 
 CORPORATE GOVERNANCE AND MANAGEMENT OF THE COMPANY 
  

	4.	POWERS AND COMPOSITION OF THE BOARD OF DIRECTORS 

  

	 	a)	Except as otherwise required by Indian law, this Agreement or the Articles of Association, all powers to manage, direct and control the Company shall vest the Board of
Directors. 

  

	 	b)	The number of Directors shall not be less than 3 (three) and not more than 7 (Seven). The Company shall have 7 (Seven) directors as its First Directors of which 4
(four) Directors shall be nominated by EROS, and 3 (three) Directors shall be nominated by KM and NP. In the event the number of Directors of the Company are altered, changed or notified, the Directors shall be nominated in the same proportion as
the initial nominations. 

  

	 	c)	is agreed between both the parties that, the following individuals shall hold the position of the first Board of Directors as the representatives of EROS:

  

	 	i.	Mr. Sunil A Lulla as Chairman 

  

	 	ii.	Mr. Surender K Sood as Director 

  

	 	iii.	Mr. Vikram Rajani as Director 

  

	 	iv.	Mr. Bipinchandra K Talati as Director 

  

	 	d)	It is agreed between both the parties that, the following individuals shall hold the position of the first Board of Directors as the representatives of the Group:

  

	 	i.	Mr. Kumar Mangat Pathak as Managing Director 

  

	 	ii.	Ms. Neelam Pathak as Director 

  

	 	iii.	Mr. Abhishek Pathak as Director 

  

	5.	MEETINGS OF THE BOARD OF DIRECTORS 

  

	 	a)	The Directors may meet together as a Board for dispatch of business from time to time, and shall so meet at least once in every three months and at least four such
meetings shall be held in every year. The Directors may adjourn and other wise regulate their meetings as they think fit. 

  

	 	b)	At least fourteen days notice of every meeting of the Board shall be given in writing to every Director for the time being in India and at his usual address in India to
every other Director provided however that in the case of a Director resident outside India, notice of every meeting of the Board shall also be given to such Director at his address outside India and to his alternate, if any, in India at his usual
address in India Such notice shall be accompanied by the agenda setting out the business proposed to be transacted at the meeting of the Board. 

  
 7 

 Directors shall be entitled to a sitting fees in accordance with the Articles of
Association, Companies (Central Government’s) Rules and Forms 1958 or in accordance with the Resolutions passed in the General Meeting of the Company. 
  

	6.	QUORUM AND GENERAL ACTIONS OF THE BOARD OF DIRECTORS 

  

	 	(a)	Subject to Section 287 of the Ad, the Quorum for a meeting of the 2oard shall be one-third of its total strength (excluding Directors, if any, whose place may be
vacant at the time and any fraction contained in that one-third being rounded of as one) or four Directors, whichever is higher, provided, 

  

	 	(b)	Notwithstanding what is stated above, every board meeting shall consist of at least 3 (three) representatives of EROS 

 

	 	(c)	If a meeting of the Board could not be held for want of quorum then the meeting shall automatically stand adjourned to such other date and time (if any) as may be fixed
by the Chairman not being later than seven days from the date originally fixed for the meeting. 

  

	7.	RESPONSIBILITIES OF THE BOARD OF DIRECTORS 

 Subject to sections 291 and 292 of the Companies Act, the Board of Directors shall supervise the management and the proper arrangement of the operations of the Company and shall carry out such other
functions as required under the Companies Act. 
  

	8.	FUNDAMENTAL ACTIONS OF THE BOARD OF DIRECTORS 

 The Company shall not, and the shareholders shall ensure that the Company does not take any action in connection with any of the following matters unless such matter is approved at a meeting of the Board
of Directors where all the directors present and voting have voted affirmatively for such matter: 
  

	 	I.	the Project plan, business plan, and any interim material revisions thereto; 

 

	 	II.	Change in the authorized Share Capital of the Company; 

  

	 	III.	the authorization or issuance of any shares or other equity related Securities; 

 

	 	IV.	the transfer by the Company of any material business, assets or properties, including all Intellectual property rights, held by it; 

 

	 	V.	any purchase, redemption or acquisition by the Company of any shares or equity related securities of the Company; 

 

	 	VI.	any reorganization, re-capitalization or similar transaction, or the making of any petition under any applicable bankruptcy, insolvency or other similar law;

  

	 	VII.	board shall do the borrowings as per the sanctions obtained at the Annual General meeting or the Extraordinary General meeting as the case may be.

  
 8 

	 	VIII.	Amalgamation, Merger or dissolution of the company; and 

  

	 	IX.	the entering into by the Company of any contract that (i) has a value, an aggregate payment or a commitment in excess of Rs.5,00,000/- (Rupees five lace only ) (or
its equivalent in any other currency), and (ii) continues over a period of more than we (1) year. 

  

	9.	MANAGEMENT OF THE COMPANY 

 The Company shall be managed and operated by the Managing Director and the management of the Company shall be supervised, monitored and subject to superintendence and control by the Board of Directors of
the Company. 
  

	10.	MANAGING DIRECTOR 

  

	 	a.	EROS shall solely and exclusively have the power to appoint, from time to time any of its nominee as Managing Director or Managing Directors of the Company for a fixed
term not exceeding five years at a time and upon such terms and conditions as the Board thinks fit. Likewise EROS shall have the sole and exclusive power and rights to suspend and remove the Managing Director/ Managing Directors Subject to the
provisions of Articles of the Association the Board may by resolution vest in such Managing Director or Managing Directors such of the powers hereby vested in the Board generally as it thinks fit and such powers may be made exercisable for such
period or periods and upon such conditions and subject to such restrictions as it may determine. 

  

	 	b.	The remuneration of a Managing Director may be by way of monthly payment, fee for such meeting or participation in profits or by any or all of these modes or any other
mode not expressly prohibited by the Act. 

  

	 	c.	The Managing Director or Managing Directors shall not exercise the powers to do following things without a prior permission from the Board of Directors:

  

	 	I.	make calls on shareholders in respect of money unpaid on the shares in the Company; 

 

	 	II.	issue debentures: 

  

	 	d.	Except to the extent mentioned in the resolution passed in the Board Meeting under section 292 of the Act, the Managing Director or Managing Directors shall not
exercise the powers to: 

  

	 	I.	borrow money otherwise than on Debenture; 

  

	 	II.	invest the fund of the Company; 

  

	 	III.	take loans 

  
 9 

	11.	RETIREMENT OF MANAGING DIRECTOR 

 In the event the Managing Director ceases to hold the office of Director, he shall ipso facto and immediately cease to be a Managing Director. 

 

	12	CHAIRMAN 

  

	 	a.	EROS shall have at all times the exclusive right to nominate the Chairman of the Board and Vice — Chairman of the Board. The First Chairman shall be Mr. Sunil
Lulla. 

  

	 	b.	The Chairman of the Board shall be entitled to take the chair at every meeting of the Board. If at any meeting of the Board the Chairman shall not be present within
fifteen minutes of the time appointed for holding the same or if he be unable or unwilling to take the chair then the Vice Chairman shall be entitled to take the chair at such Board Meeting, and failing him the Board may elect one of their members
to act as the Chairman of that meeting 

  

	 	c.	The Chairman shall have the casting vote. 

  

	13.	SHAREHOLDERS’ ACTIONS 

 Any of the Shareholders may authorize any person to act as its proxy at any meeting of the Shareholders, and such proxy shall be entitled to exercise all of the powers of such Shareholder on its behalf.

 ARTICLE IV 
 OBLIGATIONS OF THE SHAREHOLDERS 
  

	14.	OBLIGATIONS OF THE GROUP I THE COMPANY 

 The Group jointly, severally and covenant represent and warrant as follows: 
  

	 	i.	Out of the 10000 fully paid equity shares of the Company they hold 10000 equity shares fully paid free from encumbrances, charge, lien equity or third party rights.

  

	 	ii.	There are no properties immoveable or moveable held by them or anybody else as benamidar for the Company and that there are no other debts and liabilities of the
Company 

  

	 	iii	All income tax, sales tax, property tax excise duty and other taxes and dues payable to the Government or any local body have been paid up to the date hereof.

  

	 	iv.	On execution and completion hereof execute transfer forms in respect of all the shares held by them in the Company in favour of EROS and their nominees as EROS may
desire free from encumbrances, charge, lien, equity or third party rights and deliver all relevant share certificates and other documents of title and other benefits in respect of the shares together with the books of accounts and all other papers
and record. 

  
 10 

	 	v.	Shall sign the letters or intimation addressed to the Registrar of Companies in the prescribed forms intimating their transfer of shares in favour of EROS.

  

	 	vi.	In the event of it being found that the Company is indebted to any person whose liability is not disclosed including liability for payment of income tax and other
taxes, the Group shall pay the same and agree hereby to indemnify and keep indemnified the company and EROS against any such liability If necessary the Group shall execute documents of indemnity for the same. 

 

	 	vii.	Shall pay the Capital Gains Tax, if any, in respect of the said shares transferred to EROS and shall indemnify and keep indemnified EROS against such liability.

  

	 	viii.	Agree and undertake to execute all documents, assurances, papers, letters as may be necessary to give proper effect to the transfer of shares as aforesaid and
consequential transfer of management and control including the change in the operation of the Bank accounts of the Company to Me Group. 

  

	 	ix.	If any Departing Shareholder fails to execute the relevant documents necessary to transfer his/her shares when such transfer has been agreed or is required under this
Agreement then in such an event EROS or its nominees is hereby irrevocably appointed as his/her lawful attorney and authorized to do all things and execute all documents necessary to effect such transfer or sale in their favour with the acts of the
attorney fully valid and binding on the departing shareholder as if the Departing shareholders had performed the same itself with the departing shareholder undertaking at all times to confirm and ratify the same. 

 

	 	x.	The Articles of Association of the Company reflects the transfer of 64% of Paid up Share Capital in favour of EROS and other provisions contained herein with the Group
directing their representatives on the Board of the Company to pass the necessary resolution adopting, confining, ratifying and signing this Agreement complying with all laws, rules, regulations and notifications that are necessary to give effect to
this agreement passing all resolutions that are necessary to give effect to this Agreement. 

  

	 	xi.	The Company shall deliver the loan Agreement to EROS duly signed. 

  

	 	xii.	KM shall deliver duly signed Service Agreements to the Company. 

  

	 	xiii.	KM agrees to provide exclusive services to the best of his skill and ability using best efforts, diligence in the production, completion and release of the said films
and shall not do anything which is contrary to this Agreement, by reason whereof the rights of EROS is in any manner adversely, affected, impaired or prejudiced ensuring that there is no encumbrance, lien and charge on the said films.

  

	 	xiv.	The Company undertakes with each of the other parties to this Agreement to be bound by and comply with the terms of this Agreement insofar as they relate to the Company
and to act in all respects as contemplated by this Agreement insofar as it is able by law to do so. 

  
 11 

	 	xv.	The Company with the prior written approval of EROS shall exclusively produce all the cinematograph films and feature films for EROS or its subsidiaries/nominees with
the entire cost of production and completion of the films up to production of positive films as per budget provided and borne by EROS stone with all the copyrights, intellectual property rights, audio rights and all rights of exhibition,
broadcasting, distribution in respect thereof shall be exclusively assigned and transferred to EROS or its subsidiaries/nominees throughout the World at mutually agreed price with power to re-assign all or any of the rights.

  

	 	xvi.	Broad terms relating to Budget, Cost of Production, Engagement of artistes, musicians, Directors, technicians, etc., Pre-production, Production Schedule, Cash Flow
Schedule, Completion of film(s), Assignment, Sale, License, Distribution and exploitation of all copyrights, intellectual property and all other rights in the film including audio rights, Price and consideration of the rights including the Minimum
Guarantee terms, recoupment of investment, cost, charges and expenses of distribution, Prints, Trailors, publicity, Commission, Re-assignment of rights, Profit sharing ratios etc. are set out in Schedule - 3 hereto. 

 

	15.	OBLIGATIONS OF EROS 

  

	 	(i)	EROS shall pay to the Group the purchase price of Rs. 64,0001- towards the 64% of fully paid equity shares of the Company from the Group (which shall include the entire
shareholding of “Amite” and “Sanjeev”) of Rs.10/- each free from all encumbrances, lien, charge, equity or third party claims. 

  

	 	(ii)	EROS shall bear and provide the entire cost of production and completion of the cinematograph films as per budget provided by the Company and duly approved by EROS with
all audio rights and all rights of exhibition, broadcasting, distribution, re-assignment in respect thereof exclusively and irrevocably assigned and transferred to EROS or its subsidiaries/nominees throughout the World who shall exploit the same at
a mutually agreed price for a specified period. 

 ARTICLE V 

TRANSFER OF SHARES 
  

	16.	RIGHT OF FIRST REFUSAL 

  

	 	a)	In the event that the Group or any of them (referred to as “Offeror” for the purpose of this Article) herein above wishes to dispose off their shares, in part
or as a whole, the said shares shall first be offered to Eros (referred to as “Offeree” for the purpose of this Article). Eros is entitled to offer its shares to any party of whatsoever kind and shall be entitled to determine the price of
such shares in its sole discretion. 

  

	 	b)	The price of such shares shall be determined as under” 

  
 12 

	 	i)	If the Company is not listed, then based on Net Asset value Method decided by an independent valuer. 

 

	 	ii)	If the Company is listed, then on the basis of average of last six months as the price prevailing at the Stock Exchange. 

 

	 	c)	If Offeree does not wish to take up such additional shareholding in the Company, it shall inform the Offeror of such decision within a period of 90 (ninety) days,
whereupon the Offeror may offer the shares to a third party on the same terms and conditions as had been presented to the Offeree. In case of failure to respond to the Offer from the Offeror within 90 days of the Offer, it shall be deemed that
Offeror has waived his right of first refusal and Offeror may offer the shares to a third party on the same terms and conditions as had been presented to the Offeree. 

 

	17.	PUT AND CALL OPTION 

Under Put and Cali option, Eros has right but not the obligation to buy or sell its shares specific number of shares at the specific price

  

	 	a)	PUT OPTION 

 The
holder of the Shares shall have the right (the “Put Option”) to sell all or some of the of the Shares (the “Put Shares”) in the following manner: 

 

	 	(iii)	The Put Option shall be exercised by the holder of the shares through a written notice (the “Put Notice”) specifying their wish to exercise the Put
Option at the fair market price of the Put Shares (for purposes of this Section, the “Put Price”). Upon receipt of the notice, the Recipient may exercise the option to buy the Put Shares. 

 

	 	(iv)	The Recipient shall within 60 days of receipt of the Put Notice shall intimate to the holder of the Shares offered for the Put Option, about their acceptance or denial
of the Put Option. 

  

	 	(v)	The completion of the sale and purchase pursuant to the Put Notice shall take place not later than sixty (60) days after the date on which reply to Put Notice as
per clause (i) is received by the holder of Shares. 

  

	 	b)	CALL OPTION 

 The
holder of shares shall have the right (the “Call Option”) to buy all or some of the of the Shares (the “Call Shares”) in the following manner: 

 

	 	(i)	The Call Option shall be exercised by the holder of the shares through a written notice (the “Call Notice”) specifying their wish to exercise the Call
Option at the fair market price of the Call Shares (for purposes of this Section, the “Call Price”). Upon receipt of the notice, the Recipient may exercise the option to buy the Call Shares. 

  
 13 

	 	(ii)	The Recipient shall within 60 days of receipt of the Call Notice shall intimate to the holder of the Shares offered for the Cali Option, about their acceptance or
denial of the Call Option. 

  

	 	(iii)	The completion of the sale and purchase pursuant to the Call Notice shall take place not later than sixty (60) days after the date on which reply to Call Notice as
per clause (ii) is received by the holder of Shares. 

 In the event the other Party fails to reply to the Put
or Call Notice as specified in Clause (i) and (iii), then the other Party shall waive its right to exercise right to first refusal as per clause 7. 
 In case of simultaneous Put or Call options the price of the Higher Option shall prevail. In case, if the other Parties do not exercise their right under the abovementioned Options then the Shareholders
making the put option will name prospective persons who are willing to buy the shares the same shall be approved by the remaining shareholders, unless compelling and legitimate reasons are given in writing within 15 (fifteen) days of receipt of such
names, If the remaining shareholders fait to respond within 15 (fifteen) days (unless a mutually agreed extension is granted) deemed that the remaining shareholders have approved the prospective person. 

ARTICLE VI 

[FINANCING] 
  

	18.	DISTRIBUTIONS BY THE COMPANY 

 All distributions pertaining to profits and other expenses from the Company to the Shareholders shall be made in accordance with each Shareholder’s Shareholding percentage at the time of
distribution, 
  

	19.	FINANCIAL AND BORROWING POWERS 

  

	 	a.	The Parties shall together cause the Directors of the Company to compile on a monthly basis, information concerning its finances, operations and accounts In particular,
the Company shall compile a balance sheet and a profit and loss statement, all in sufficient detail to reflect accurately the financial position of the Company. All such information shall be provided to each Party within Forty Five (45) days of
the conclusion of each month. 

  

	 	b.	Subject to the provisions of Sections 292 and 293 of the Act, the Board may, from time to time at its discretion by a resolution passed at a meeting of the Board,
accept unsecured loans from members of the Company either in advance of calls or otherwise and generally from any source or raise for the purpose of the Company, borrow or secure the payment of such sums as it thinks fit. 

  
 14 

 ARTICLE VII 
 INTENTION TO LIST 
  

	20.	It is agreed between all the Parties that the shares of the Company shall be listed on the Indian Stock Exchange as and when EROS proposed for listing of Shares.

  

	21.	It is further agreed that none of the Parties will directly or indirectly or through its representatives on the Board to cause to impede or obstruct the listing of the
Company shares on the Stock Exchange 

 ARTICLE VIII 

 

	22.	OBLIGATIONS, REPRESENTATIONS AND WARRANTIES OF PARTIES 

 The Shareholders hereto represent and warrant that as of the date hereof: 
  

	 	(a)	This Agreement constitutes a legal, valid and binding obligation on them to perform their duties under this Agreement and is enforceable against them in accordance with
its terms, except as limited by events such as bankruptcy and any other similar event and/or affecting its creditors’ rights generally and limitations on the availability of equitable remedies; and 

 

	 	(b)	all actions required to be taken by it to authorize the execution, delivery and performance of this Agreement by it have been property taken, and this Agreement
constitutes its valid, legal and binding obligation, enforceable against it in accordance with its terms, except as limited by bankruptcy and other similar laws affecting creditors’ rights generally and limitations on the availability of
equitable remedies; 

  

	 	(c)	the execution, delivery and performance of this Agreement by them will not: 

 

	 	(i)	conflict with or violate any applicable law, rule, regulation, order, injunction or decree of any governmental authority presently in effect, or

  

	 	(ii)	result in a breach of, or constitute a default (or an event which with the giving of notice or lapse of time, or both, would become a default) under, or give to others
any rights of termination, acceleration or cancellation of, or require any consent under, or result in the imposition or creation of any lien pursuant to, any provisions of any agreement or instrument to which they are a party or by which any of
their properties or assets are bound, 

  

	23.	NON-COMPETE 

 The
Group agree and guarantee as under: 
  

	 	a)	that the Group is free to offer its services to Mr. Ajay Devgan or his related concerns in any manner and non compete clause shall not form part with respect to
services being provided to Mr. Ajay Devgan and his related concerns 

  

	 	b)	that till the Group are the shareholder of the Company or 

  

	 	c)	that after the termination of this Agreement as per clause 26 and 27 or 

  
 15 

	 	d)	that from the date they have completely disposed of their Shares 

  

	 	e)	which ever is earlier, they shall not, directly or indirectly, except as stated in clause 24(a), or pen-nit their Affiliates to, as an individual, consultant, partner
shareholder or in any other capacity, have an interest in any entity conducting film production business which is the same as or competitive for a period of 2 (two) years (at the time this non-competition obligation arose) with the business of the
Company, without obtaining the prior written consent of the remaining EROS. 

  

	24.	ACCOUNTING, REPORTING AND AUDITING 

  

	 	a.	The Shareholders shall cause the Company to maintain and keep all books, records and accounts in the English language as are required to he maintained by the Company
under the Companies Act, 1956 and in accordance with all applicable laws. 

 ARTICLE IX 

TERM AND TERMINATION 
  

	25.	TERM 

 This
Agreement shall come into effect upon the execution and shall continue in effect until: 
  

	 	(a)	One party owns hundred (100%) percent of the issued and outstanding Shares; 

 

	 	(b)	It is terminated pursuant to the provisions of Clause 27 this Agreement; 

  

	 	(c)	the dissolution and liquidation of the Company; or 

  

	 	(d)	terminated by mutual agreement of the Parties. 

  

	26.	TERMINATION 

  

	 	i)	Termination by Effect: 

It is agreed between the parties that this Agreement shall be terminated by any Party giving 15 (fifteen) days written notice to the other
party in case: 
  

	 	a)	Any of the Party enters into liquidation, becomes insolvent, admits in writing his inability to pay his debts as they mature, or becomes party to a bankruptcy or
similar proceeding brought against him; 

  

	 	b)	In the event of fraudulent, criminal or dishonest action of the representatives of Eros or the Group; 

 

	 	c)	In the event of occurrence of any of the events as depicted in clause 26. 

  
 16 

	 	ii)	Termination by cause: 

 It
is agreed between the parties that this Agreement shall forthwith be terminated by any Party by giving 30 (thirty) days written notice to the other party in case there is material breach of the obligations of the Other Party (Breaching Party) as
provided under this Agreement or any other Agreement entered into by the Parties hereto and such breath, if capable of remedy, has not been remedied to the reasonable satisfaction of the Party (Non Breathing Party) within a period of thirty
(30) days following written notice to that effect having been served; 
  

	27.	EFFECT OF TERMINATION 

  

	a)	It is agreed between both the Parties that in the event of termination as per clause 27(i) and 27(ii), the Parties receiving terminating notice shall surrender its
entire shareholding to the Company within 30 days of the receipt of the notice. The Company shall pay the price of the shares determined as under to the Party surrendering its Shares within 30 (thirty) days from the date of actual surrender of the
Shares: 

  

	 	i)	if the Company is not listed, then based on Net Asset value Method, calculated by the independent valuer. 

 

	 	ii)	If the Company is listed, then on the basis of the six months average price at the Stock Exchange. 

 

	b)	Its is agreed between both the parties , that in case the Party receiving the notice has failed to surrender its shares as per Clause 28(a) herein above, then the Party
surrendering its shares shall waive its right to receive consideration for the surrender as per clause 28(a) herein above. It is further agreed between both the Parties that, the said shares held by the Party receiving the notice shall automatically
be cancelled and these shares can be reissued to such other person as the Board of Directors, may deem fit. 

  

	28.	SURVIVAL OF OBLIGATIONS AFTER TERMINATION 

 If Either of the Party terminates this Agreement on the happening of any of the events mentioned in Clause 26 and 27 herein above, all obligations undertaken hereunder by the Parties under this Agreement
shall cease with immediate effect, save and except: 
  

	 	(i)	Clause 27 and 28 [Term & termination] 

  

	 	(ii)	Clause 24 [Non-compete], 

  

	 	(iii)	Clause 33 [Confidentiality] 

 In
case after the termination of the Agreement by any party, voluntarily or not, the remaining shareholder may change the name of the Company. 

  
 17 

 ARTICLE X 
 MISCELLANEOUS 
  

	29.	NOTICES 

  

	 	(a)	notice given hereunder to either shareholders or the Company shalt be in writing and shall be served by hand, or shall be sent by facsimile transmission, prepaid post
or courier with acknowledgement receipt to, the following addresses and numbers 

  

	 	(1)	If to EROS 

  

 

			
	[Address]	  	
		
	 Telephone:
	  	[•]
		
	 Facsimile:
	  	[•]
		
	 Attention:
	  	[•]

  

	 	(2)	If to the Group: 

  

			
	[Address]	  	
		
	 Telephone:
	  	[•]
		
	 Facsimile:
	  	[•]
		
	 Attention:
	  	[•]

  

	 	(3)	If to the Company 

  

			
	[Address]	  	
		
	 Telephone:
	  	[•]
		
	 Facsimile:
	  	[•]
		
	 Attention:
	  	[•]

  

	 	(b)	 Any such notice shall be deemed to be served at the time of delivery (if delivered by hand), at the time of transmission (if sent by facsimile) or on
the tenth (10th) Business Day immediately after the
date of posting or courier (if sent by prepaid post or courier) Evidence that the notice was properly addressed, stamped and put into the post shall be conclusive evidence of posting Without prejudice to the effectiveness thereof, a notice sent by
facsimile shell be confirmed promptly in writing delivered by hand or sent by prepaid post. 

  

	30.	SALE OF SHARES 

  

	 	a)	It is agreed between both the parties that in case any of the shareholder desires to sell his shares not through public offering then it will first give the right to
the existing Share Holders in the proportion of their Shareholding at that point of time, 

  
 18 

	 	b)	If in case any of the share holders decide not to opt to purchase the fresh issue the company then shall offer the same to the remaining share holders in the proportion
of their shareholding, at that point of time. 

  

	 	c)	In the event during such private placements if the company has not been able to receive adequate capital from the existing share holder then the company shall have a
right to offer such placement to a third party approved by both EROS and Big Screen Entertainment Private Limited. 

  

	31.	THIRD PARTY TRANSACTIONS 

 It is agreed between all the parties that in case of fresh issue of shares or transfer of shares through private equity placement to any third party The said third party is required to sign this agreement
and shall be bound by all the terms and conditions of this agreement. 
  

	32.	CONFIDENTIALITY 

All information, documentation and data disclosed or to be disclosed by one party to another in connection with this Agreement or any of
the transactions contemplated hereunder shall be kept confidential by the receiving party and shall not be used otherwise than in connection with the transactions contemplated by this Agreement, except 

 

	 	(a)	to the extent that it was lawfully in the possession of the receiving party when received by the receiving party; 

 

	 	(b)	to the extent that it is obtained by the receiving party from other sources without such duty as to confidentiality or non-use; 

 

	 	(b)	to the extent such information is generally available to the public when received by the receiving party or thereafter becomes generally available to the public through
no fault of the receiving party; 

  

	 	(c)	to the extent such duty as to confidentiality and non-use is waived by the disclosing party; or 

 

	 	(d)	as may be required by any governmental authority or by any regulations or rules of a governmental authority to which the receiving party is subject.

 The foregoing obligation as to confidentiality and non-use shall survive any termination of this Agreement. Upon
termination, each party shall use its best efforts to return to the other party or parties all documents (and all reproductions and copies thereof) that have been received from such other party or parties or that include information not within the
exceptions contained in the first sentence of this Article; provided, however, that such obligation to return documents shall not be construed to prohibit a party from retaining copies of documents and information reasonably necessary to enable such
party to respond to or comply with the requirements of applicable law or any Governmental Authority. 

  
 19 

	33.	ACCESS TO ALL INFORMATION 

 Both parties shall have complete access to all documents, statements, financial reports and other records of the Company as and when they require. 

 

	34.	ENTIRE AGREEMENT 

This Agreement and any attachments hereto shall, as of the date of execution hereof, supersede all previous representations,
understandings or agreements, oral or written, among the parties with respect to the subject matter hereof. 
  

	35.	AMENDMENT AND WAIVER 

 No amendment or waiver hereto shall be effective or binding on any of the parties hereto unless in writing and signed by each of the parties. Any waiver by any of the parties hereto of any right hereunder
or any breach hereof by another party shall not constitute a waiver of any other right or any other breach by such other party, whether of a similar or different nature thereto. 

 

	36.	SEVERABILITY 

 If
any term or provision of this Agreement is for any reason found invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the validity of any remaining portion of this Agreement, which shall
remain in full force and effect as if the invalid, illegal or unenforceable portion was never a part of this Agreement when it was executed; provided, that in such event the parties shall use their reasonable efforts to achieve the purpose of such
invalid, illegal or unenforceable portion by replacing it with a new legally valid and enforceable provision. 
  

	37.	ASSIGNMENT 

 No
party shall transfer all or any part of its rights or obligations under this Agreement, other than in accordance with the terms of this Agreement, without the prior written consent of the other parties. No assignment shall relieve, release or
discharge the assigning party of its obligations under this Agreement, except as expressly provided in the written consent. 
  

	38.	REMEDIES 

 In the
event of any breach or threatened breach of this Agreement by any party hereto, the other parties shall be entitled to equitable relief through an injunction in addition to any other rights and remedies available to them. 

 

	39.	EXPENSES 

 Each
Party shall bear alt costs and expenses which it has incurred in connection with the transactions contemplated hereby. 

  
 20 

	40.	ARBITRATION 

 In
case of any dispute or difference arising out of or in connection with this Agreement the same shall initially be resolved by mutual consultation failing which the same shall be referred to arbitration of a Sole Arbitrator appointed mutually by the
Group and EROS (who shall be former Judge of the Supreme Court of India or Ex-Judge of the high Court of Judicature at Bombay), and such arbitration shall be governed by the provisions of Arbitration and Conciliation Act, 1996 The Arbitration
proceedings shall be in English and held in Mumbai and the Court in Mumbai alone shall have jurisdiction. 
  

	41.	GOVERNING LAW 

This Agreement shall be construed and governed by the laws of India and shall be subject to the exclusive jurisdiction of the Courts in
Mumbai. 
  

	42.	ARTICLES OF ASSOCIATION 

  

	 	a)	The Articles of Association of the Company shall incorporate all the provisions made in this Shareholders Agreement within two months from the date of execution of
Shareholders Agreement, for the purpose of good governance of the Company. 

  

	 	b)	Each shareholder agrees that he/she will, if so requested by the other shareholders, exercise all rights available to him as a shareholder of the company to approve any
necessary amendments to the Articles of remove this conflict. 

  

	43.	TERMS 

 All terms
not defined in this Agreement, but defined in the Articles of Association shall have the same meaning as the definition given to it in the Articles of Association 
  

	44.	FORCE MAJEURE 

Neither party shall be responsible to the other for non-performance of the obligations hereunder due to natural disasters, labour
disruptions, any change in law, government policies or other causes beyond the control of the said party, PROVIDED, that the party so prevented from complying with its obligations shall promptly give notice thereof to the other party and continue to
take all actions reasonably within its power to comply as fully as possible herein The party not so prevented may elect to terminate this Agreement it the non-performance of the other party continues for one (1) month or longer 

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed and delivered as of the date and year first set forth above. 

 

	
	/s/ Sunil Lulla
	For EROS MULTIMEDIA PRIVATE LIMITED
	
	/s/ Kumar Mangat
	For BIGSCREEN ENTERTAINMENT PRIVATE LIMITED
	
	/s/Kumar Mangat    /s/Neelam Pathak    /s/Abhishek Pathak
	KUMAR MANGAT PATHAK, NEELAM PATHAK AND ABHISHEK

  
 21 

 SCHEDULE 1 — THE COMPANY 

Part 1 
  

			
	Name of Company:	  	Big Screen Entertainment Pvt. Ltd.
		
	Registered Number:	  	
		
	Authorised Share Capital:	  	Rs. 10,00,000/- divided into 1,00,000 Ordinary Shares
		
	Issued and Paid-up Share Capital:	  	Rs.1,00,000/- divided into 10,000 Ordinary Shares
		
	Shareholders:	  	 Kumar Mangat Pathak
  

Neelam Pathak
  
 Abhishek Pathak
  
 Amita
Pathak
  
 Sanjeev Joshi

		
	Registered Office:	  	301-302/B, Brook Hill Tower, 3rd Cross Lane, Lokhandwala Complex, Andheri (W), Mumbai 400 053
		
	Directors:	  	
		
	Secretary:	  	
		
	Accounting Reference pate:	  	

  
 22 

 SCHEDULE 2 - DEED OF ADHERENCE 

IT IS HEREBY AGREED between the Parties as follows: 
  

	1.	Words and phrases defined in the Shareholders agreement shall have the same meaning when used in this Deed of Adherence. 

 

	2.	EROS hereby undertakes to and covenants with all the parties to the Shareholders agreement to observe, perform and be bound by all the terms of the Shareholders’
Agreement which are capable of applying to EROS and which have not been performed at the date hereof to the intent and effect that EROS shall be deemed with effect from the date on which EROS is registered as a member of the Company to be a party to
the Shareholders’ Agreement (as if named as a party to the Shareholders’ Agreement). 

  

	3.	In case of any dispute or difference arising out of or in connection with this Adherence Agreement the same shall initially be resolved by mutual consultation failing
which the same shall be referred to arbitration of a Sole Arbitrator appointed mutually by the Group and EROS (who shall be former Judge of the Supreme Court of India or Ex-Judge of the High Court of Judicature at Bombay), and such arbitration shall
be governed by the provisions of Arbitration and Conciliation Act, 1996. The Arbitration proceedings shall be in English and held in Mumbai and the Court in Mumbai alone shall have jurisdiction. 

 

	4.	This Deed of Adherence shall be governed by and construed in accordance with laws of India and EROS hereby submits irrevocably to the exclusive jurisdiction of the
courts in Mumbai which shall be the Court of competent jurisdiction. 

 IN WITNESS thereof this Deed of Adherence has been duly
executed as a deed by Eros Multimedia Pvt. Ltd. and by Kumar Mangat Pathak and Neelam Pathak on its behalf and as attorney for each of the other parties to the Shareholders’ Agreement on the date stated above. 

 

					
	 Signed by within named

Eros Multimedia Pvt. Ltd.
	  	 )
 )
	  	 /s/  Sunil Lulla

 

			
	 Signed by within named

Kumar Mangat Pathak
	  	 )
 )
	  	 /s/  Kumar Mangat

			
	 Signed by within named

Neelam Pathak
	  	 )
 )
	  	 /s/  Neelam Pathak

			
	 Signed by within named

Abhihek Pathak
	  	 )
 )
	  	 /s/  Abhishek Pathak

  
 23 

 SCHEDULE 3 — BROAD TERMS OF AGREEMENT 

IT IS HEREBY AGREED between the Parties as follows: 
  

	1)	The Company with the prior written approval and sanction of EROS shall produce all cinematograph films and feature films exclusively for EROS, its subsidiaries or
nominees with the budget / entire cost of production and completion of the films (finance invested) being borne and provided by EROS alone. 

  

	2)	All the sound track in the film, audio / visual rights and all rights of exhibition, broadcasting, distribution in the cinematograph and feature films in clause 1
hereof shall exclusively stated assigned / transferred to EROS or its subsidiaries/nominees throughout the World at a price and term mutually agreed between the parties for a specified period with EROS being absolute power to reassign all or any of
the rights In the above films. 

  

	3)	Separate Agreements shall be executed between EROS and the Company for each film aforesaid inter alia stipulating the Budget, Cost of Production, Cash Flow Schedule,
Engagement of artistes, Directors, musicians, technicians etc., Production Schedule, Post Production, Accounts, Joint Production Account, Revenue Sharing, Completion of film(s), Assignment, Sale, License, Distribution and exploitation of all
copyrights, intellectual property and all other rights in the film including audio/visual rights, Price / Minimum Guarantee terms, recoupment of investment, cost, charges and expenses of distribution, Prints, Trailors, publicity, Commission,
Re-assignment of rights, Profit sharing ratios etc. 

  

	4)	All distribution in the films for the Whole World shall exclusively vest with EROS on Minimum Guarantee Terms plus an additional 15%, 20% and 25% respectively (for big,
medium and small budget films ) of the cost of production. 

  

	5)	On approval and sanction of each of the film by EROS, EROS will, in accordance with the Production Schedule mutually agreed between the Parties, endeavour to
punctiliously infuse funds in the production and completion of the film. With a view to firm up, commit and settle the project EROS may at its discretion however release lumpsum amounts for signing artistes, technicians, performers etc.

  

	6)	Further since EROS is also the distributor of the films throughout the World for the Company, EROS in its capacity as Distributor shall release funds under-production
from time to time in favour of the Company to the extent of 25% of the cost of production against each film 

  

	7)	EROS will not claim or demand any interest on finance invested in the Production and completion of the film(s) up to 50% of the total cost of each film. Thereafter,
EROS shall charge and demand 12% p.a. simple interest and will form part of cost of production. 

  

	8)	Publicity cost of each film for India shall be borne by EROS and the Company in the ratio of 50% - 50%. 

  
 24 

	9)	The Company shall pay to KM and/or his nominees, director’s remuneration aggregating to Rs.5 Lakhs per month and / or his nominees for handling production and
completion of the films for the company. 

 If the Company on or before 31.12.2009 attains, earns or makes a Pre
tax Profit of Rs.25 to 30 Crores KM and/or his nominees will get a commission of Rs.5 Crores separately which will be first appropriated towards his advance, if any, unpaid on that date and balance amount paid to him by the Company. 

Until recoupment of the entire funds and investment by EROS in the said films the negative rights of all the cinematograph films to be
co-produced between EROS and the Company shall exclusively vest with EROS. Thereafter the negatives of the film shall vest jointly and equally in the names of EROS and KM in the ratio of 50% - 50% with laboratory being intimated accordingly;

 KM has represented to EROS that he needs an advance of Rs.9.50 Crores agreeing that the said amount of Rs.9.50 be recouped as
set out in clause 13 hereof from his share of profits from the exploitation of the rights of the films. EROS, while accepting the foregoing request of KM has out of advance of Rs.9.50 Crores, already paid a sum of Rs.6.72 Crores with the balance of
Rs.0.78 Crores to be paid to KM as under: 
  

	 	(i)	Rs.0.78 Crores after signing of the Agreement and 

  

	 	(ii)	Rs.2 Crores to be released in suitable tranches 

 It is agreed that until the entire advance of Rs 9.51) Crores to KM shall be recouped by EROS out of KM’s share of profits from the films in the following manner: 

 

	 	(i)	First towards the sum of Rs.4.50 Crores being the share of profits of KM from the exploitation of the rights in the said film and until recoupment of the said sum of Rs
4.50 Crores KM shall not be claim much less be entitled to any amount from his share of profit from the Company. 

  

	 	(ii)	After recoupment of Rs.4 50 Crores as stated in clause 13(i) hereinabove, KM is entitled to withdraw 35% of his share of profit from the Company with the balance 65%
shall be held by the Company till such time that the time entire advance of Rs.9.50 Crores is recouped and recovered either by appropriating as per clause 12 hereinabove or by repayment by KM. 

  
 25

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