Document:

Exhibit 10.1

 

COST
SHARING AGREEMENT

 

This AGREEMENT is entered into on this
16th day of March 2020, effective as of 1 April 2019, between:

 

Majesco Limited, a company registered
and operating under the laws of India having its registered office at MNDC, MBP-P-136, Mahape, Navi Mumbai - 400 710, India, hereinafter
called as “Majesco Ltd”;

 

AND

 

Majesco Software and Solutions India Private
Limited, a company registered and operating under the laws of India having its registered office at MNDC, P-136, Millenium Business
Park, Mahape, Navi Mumbai, Thane, Maharashtra – 400 710, India hereinafter called as “MSSIPL”.

 

Jointly referred to as “the parties”
or “parties”.

 

WITNESSETH 

 

WHEREAS, Majesco Ltd is engaged in the
business of leasing of immovable and movable properties of all kinds and also monitoring of its investment in subsidiary, namely
Majesco, USA. Majesco Ltd was engaged in the business of software services to insurance companies (‘Onshore business’)
in India till 31 March 2019. Majesco Ltd has transferred the Onshore business on an on-going concern basis with effect from 1 April
2019 to MSSIPL.

 

WHEREAS, MSSIPL is engaged in providing
offshore software development and related Information Technology services and is a step down subsidiary of Majesco, US. Further,
from 1 April, 2019, MSSIPL renders software services to insurance companies (‘Onshore business’) in Indian;

 

WHEREAS, Majesco Ltd and MSSIPL are part
of the Majesco GROUP;

 

WHEREAS, Majesco Ltdhas already transferred
its employees relating to Onshore business to MSSIPL but continue to employ personnel with experience in the areas of Finance,
Legal and Corporate compliances who continue to work for the purpose of business operations Majesco Ltd. Further, Majesco Ltd allows
to and MSSIPL proposes to utilise aforesaid personnel in the areas of finance, legal and corporate compliances for the mutual benefits
of their respective business;

 

     

     

    

 

WHEREAS, in order to leverage the efforts,
economies of scale, to carry on its business more efficiently and for its own commercial benefit, Majesco Ltd and MSSIPL have agreed
to share the services of aforesaid personnel employed by Majesco Ltd;

 

WHEREAS, Majesco Ltd is willing to share
the services of these personnel with MSSIPL upon the terms and conditions hereinafter set forth.

 

NOW, THEREFORE, IT HAS BEEN HEREBY AGREED
AS FOLLOWS: 

 

		I.	NATURE OF ARRANGEMENT

 

Majesco Ltd hereby agrees to
share with MSSIPL PERSONNEL as agreed in Annexure 1.

 

The parties
agree that upon the terms and subject to the conditions contained herein, additional personnel which are not currently contemplated
under this AGREEMENT may be added as a separate Appendix from time-to-time.

 

		II.	COST SHARING ARRANGEMENT 

 

		a.	In consideration for the personnel employed by Majesco Ltd, MSSIPL shall pay a proportion of the
total salary costs incurred by Majesco Ltd as defined under this AGREEMENT, based on a percentage agreed between the parties from
time to time. Such percentage would be agreed between the parties based on the estimation of time spent by the aforesaid personnel
in undertaking their respective functions for Majesco Ltd and for MSSIPL. There will be no mark up and will be a reimbursement
for the proportion of the actual costs.

 

		b.	The total salary costs for the purpose of this AGREEMENT shall mean,

 

		-	Cost to company ( CTC ) (of the employees mentioned in
Annexure A) to the Majesco Ltd, and

 

		-	All direct cost relating to such personnel such as employee welfare expense, performance bonus,
etc

 

		c.	MSSIPL shall separately reimburse all other costs like travelling cost, local conveyance etc. paid
by Majesco Ltd to the personnel, after due approval from MSSIPL.

 

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		d.	The total costs shall be determined based on the books of accounts maintained by Majesco Ltd.

 

		e.	Majesco Ltd shall maintain records and reasonable details as agreed between the parties. At the
request of MSSIPL, Majesco Ltd shall provide reasonable documentation of the costs taken into account in calculating the amount
of cost charged to MSSIPL.

 

		f.	Majesco Ltd shall raise invoice for the agreed cost from the period 1 April 2019 to 31 March 2020
on 31 March 2020 and shall raise invoice on monthly basis from 1 April 2020 onwards to MSSIPL under this AGREEMENT.

 

		g.	MSSIPL will pay the amount along with appropriate indirect taxes within 60 days of the date of
issue of an invoice received from Majesco Ltd.

 

		III.	LIABILITY

 

Majesco Ltd
agrees to use its best efforts to the terms agreed under this arrangement, and shall endeavour to provide information and data,
of the highest calibre. However, MSSIPL agrees that Majesco Ltd shall have no liability to MSSIPL, its creditors, successors or
assigns, arising under this arrangement, information, knowledge or data which Majesco Ltd performs or communicates to MSSIPL hereunder,
or arising out of the manner in which MSSIPL may use such personnel, information, knowledge or data.

 

		IV.	TERM OF AGREEMENT

 

This AGREEMENT shall have effect
from 01 day of April 2019 and shall remain in effect until terminated mutually by the parties hereto.

 

		V.	TERMINATION

 

Either
party to this AGREEMENT may terminate this AGREEMENT, at any time upon sixty (60) days prior written notice to the other party
hereto.

 

In the event of the dissolution,
liquidation, bankruptcy or insolvency of the MSSIPL / Majesco Ltd, or in the event that its business or assets or any portion thereof
are seized, confiscated or expropriated by judicial or administrative process of otherwise or in the event of any involuntary or
compulsory change in the ownership or administrative control of MSSIPL / Majesco Ltd, then this AGREEMENT shall terminate forthwith
on the happening of such event.

 

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Upon termination
of the AGREEMENT, Majesco Ltd shall render an account of all unpaid cost to MSSIPL and MSSIPL shall settle such account within
30 days of receipt of this invoice.

 

This AGREEMENT
shall terminate with respect to any party hereto that breaches its obligations or fails to perform any obligations herein, if such
breach or failure remains uncured for thirty (30) days after such party receives written notice of the other party.

 

		VI.	FORCE MAJEURE

 

No party shall be deemed to
be in breach of this AGREEMENT by reason of any delay in performing, or any failure to perform any of their respective obligations
in relation to this AGREEMENT, if the delay or failure was due to a Force Majeure Event.

 

If either party suffers delay
in the execution of its contractual obligations due to the occurrence of a Force Majeure Event, it shall promptly give the other
party notice of the cause of the delay and the expected duration thereof. The parties shall use their best efforts to avoid or
minimize the effects upon their obligations assumed hereunder of such Force Majeure Event and shall perform their contractual obligations
as promptly as reasonably practicable after removal of the Force Majeure Event and its effects without prejudice to the right of
the parties to terminate under the conditions set above under termination clause.

 

		VII.	ENTIRE AGREEMENT

 

This AGREEMENT constitutes
the entire AGREEMENT between the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings
and communications (if any), whether written or oral, between the parties with respect to the subject matter hereof.

 

Both the parties will continuously
review this AGREEMENT as to the reasonableness of its terms. If at any time the parties discover that this AGREEMENT does not provide
for a fair balance between the interests of the parties, either of the parties to this AGREEMENT shall then agree upon such amendments
as are required to reflect the change of circumstances.

 

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Any amendment to the AGREEMENT
must be made in writing in order to become effective, unless a stricter form is legally required. This shall also apply to any
amendment, supplement or cancellation of any clause of the AGREEMENT.

 

		VIII.	TAXES AND COMPLIANCE WITH OTHER LAWS

 

Each party shall undertake
the necessary compliances related to withholding tax if applicable and required under the provisions of Indian Income-tax Act,
1961, as applicable.

 

Majesco Ltd shall be responsible
for payments to the said Personnel of salary / remuneration, deduction on account of taxes and payment of all statutory contributions
and benefits applicable under the Indian laws including settlement of full and final dues.

 

Each party shall be liable
for and shall pay and discharge any taxes, duties or any other levies of any kind whatsoever in connection with the execution and
performance under this Agreement in accordance with the applicable laws and regulations in India.

 

The respective parties shall
at all times and at its own expense undertake the necessary compliances related to:

 

		a.	Comply with all applicable laws, rules, regulations and order relating to performance of this AGREEMENT;

 

		b.	Pay all fees and other charges as required by such laws, rules, regulations and orders;

 

		c.	Maintain in full force and effect all licences, permits, authorisation and registration from all
applicable government department to perform its obligation hereunder.

 

		IX.	ASSIGNMENT

 

Majesco Ltd
shall be entitled to assign the AGREEMENT or delegate the performance of its obligations hereunder without the express written
consent of MSSIPL, although any assignment will be communicated to MSSIPL in writing.

 

No assignment
by MSSIPL shall be permitted except with the written agreement of Majesco Ltd.

 

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		X.	APPLICABLE LAW

 

The validity, performance and
construction of the AGREEMENT shall be governed and interpreted in accordance with the laws of India.

 

		XI.	WAIVER

 

Except as otherwise provided
in this AGREEMENT, any failure of any of the parties hereto to comply with any obligation, covenant, AGREEMENT or condition herein
may be waived by the party entitled to the benefits thereof only by a written instrument signed by the party granting such waiver.
Such waiver or failure to insist upon strict compliance with obligation, covenant, AGREEMENT or condition shall not operate as
a waiver of, or estoppel with respect to, any subsequent or other failure.

 

		XII.	NO AGENCY OR PARTNERSHIP

 

Nothing in this agreement shall
be deemed to constitute a partnership / joint venture between the parties to this AGREEMENT. The relationship which subsists between
the parties is that which arises under this arrangement

 

IN WITNESS WHEREOF the parties
have caused this AGREEMENT to be executed by their duly recognised officers as of the date above stated.

 

Signed on behalf of the Majesco Limited

 

	/s/ Radhakrishnan Sundar 	 
	Name: Radhakrishnan Sundar	 
	Capacity: Executive Director	 

 

AND

 

Signed on behalf of the Majesco Software and Solutions India
Private Limited

 

	/s/ Farid Kazani	 
	Name: Farid Kazani	 
	Capacity: Director	 

 

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Annexure 1

 

	Sr. No.	 	Name & Designation of the Employee of the Company	 	Portion of cost to be charged

 from MSSIPL
	1.	 	Mr. Kunal Karan, Chief Financial Officer	 	75% of CTC
	2.	 	Mrs. Varika Rastogi, Company Secretary	 	50% of CTC
	3.	 	Mr. N. P. Pai, Director – Finance	 	90% of CTC
	4.	 	Ms. Neha Sangam, Administrator - Legal	 	50% of CTC

 

 

7kodk-ex410_259.htm

Exhibit (4.10)

 

EASTMAN KODAK COMPANY
DESCRIPTION OF COMMON STOCK

Eastman Kodak Company, a New Jersey corporation (the “Company”), has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): its common stock, par value $0.01 per share (“Common Stock”).

General

The Company is authorized to issue up to 500,000,000 shares of Common Stock and 60,000,000 shares of preferred stock, no par value per share. The rights of holders of the Common Stock are subject to the rights of holders of any series of preferred stock that may be issued from time to time (including the 2,000,000 shares of the Company’s currently outstanding 5.50% Series A Convertible Preferred Stock, no par value per share (the “Series A Preferred Stock”)), including liquidation rights, special voting rights and preferences with respect to payment of dividends. For a more detailed description of the terms of our capital stock, please refer to the Company’s Second Amended and Restated Certificate of Incorporation and amendments thereto (collectively, the “Certificate”) and the Fourth Amended and Restated By-Laws (the “By-Laws”) filed as exhibits to the report to which this description is filed as an exhibit.

Dividends

Subject to applicable law and to the designated preferential rights of any outstanding series of preferred stock that the Board of Directors of the Company (the “Board”) may cause to be issued, from time to time, the holders of Common Stock will be entitled to dividends as may be declared from time to time by the Board.

Holders of Series A Preferred Stock are entitled to receive cash dividends in an amount equal to the dividend rate of 5.50% of the liquidation preference of $100.00 per share of Series A Preferred Stock (the “liquidation preference”). Dividends on the Series A Preferred Stock will be paid in cash if the Company has funds legally available for payment and the Board, or an authorized committee thereof, declares a cash dividend payable.

Prior to the mandatory redemption date of the Series A Preferred Stock, unless all accumulated and unpaid dividends on the Series A Preferred Stock have been paid in full or a sum for such amounts has been set aside for payment, the Company may not declare dividends on shares of Common Stock or any other shares of the Company’s stock ranking junior or equal to the Series A Preferred Stock and may not purchase, redeem or otherwise acquire such shares, subject to certain customary exceptions.

Ranking

The Common Stock ranks junior to the Series A Preferred Stock as to payment of dividends and distributions of assets upon the liquidation, dissolution or winding up of Company.

Voting Rights

Each share of Common Stock entitles the holder thereof to one vote on all matters, including the election of directors, and, except as otherwise required by law or provided in any resolution adopted by our Board with respect to any series of preferred stock, the holders of the shares of Common Stock will possess all voting power. Generally, all matters to be voted on by the shareholders must be approved by a majority of the votes cast at a meeting at which a quorum is present, subject to state law and any voting rights granted to any of the holders of preferred stock.  Holders of Series A Preferred Stock are entitled to vote upon all matters upon which holders of Common Stock have the right to vote, and will be entitled to the number of votes equal to the number of full shares of Common Stock into which such shares of Series A Preferred Stock could be converted at the then applicable conversion rate, at the record date, such votes to be counted together with shares of Common Stock and not separately as a class. The Certificate provides for certain limitations on the voting rights of holders of Common Stock with respect to amendments to the Certificate that affect the terms of outstanding preferred stock, including the Series A Preferred Stock.

 

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Directors

The number of directors shall be no fewer than seven and not more than 13, or as otherwise fixed pursuant to the Fourth Amended and Restated By-laws of the Company.  Holders of Common Stock do not have cumulative voting rights with respect to the election of directors. A nominee for director shall be elected to the Board if the nominee receives a majority of the votes cast at a meeting at which a quorum is present. A nominee receives a majority of the votes cast if the votes “for” such nominee’s election exceed the votes “against” such nominee’s election. However, directors shall be elected by a plurality of the votes cast in any contested election for directors. A “contested election” is any election in which the number of nominees seeking election is more than the number of directors to be elected. Shareholders will be permitted only to vote “for” or “withhold” authority in a contested election. 

The holders of the Series A Preferred Stock currently have the contractual right to nominate two individuals for election as members of the Board.  If and when dividends on the Series A Preferred Stock are in arrears for six or more dividend periods, the holders of Series A Preferred Stock (voting with holders of all other classes of preferred stock of the Company whose voting rights are then exercisable) are entitled to vote for the election of two additional directors in the next annual meeting and all subsequent meetings until all accumulated dividends on such Series A Preferred Stock and other voting preferred stock have been paid or set aside, during which period the number of individuals the holders of the Series A Preferred Stock are contractually entitled to nominate will be reduced by two.  If and when all accumulated dividends have been paid on the Series A Preferred Stock and other voting preferred stock, such rights of such holders of Series A Preferred Stock and other voting preferred stock will immediately cease and the contractual nomination right of the holders of the Series A Preferred Stock will be reinstated.

Except as may otherwise be required by law or by the Certificate, the By-Laws may be amended, altered, or repealed, in whole or in part, by the affirmative vote of a majority of the Board.  The stockholders, by a majority of the votes cast at a meeting of the stockholders called for such purpose, may adopt, alter, amend or repeal the By-Laws whether made by the Board or otherwise; such amendments adopted by the stockholders may not be amended or repealed by action of the Board without (i) the affirmative vote of a majority of the votes cast at a meeting of the stockholders called for such purpose or (ii) approval by written consent of the stockholders.

Other

The holders of Common Stock do not have preemptive rights. There are no subscription, redemption, conversion or sinking fund provisions with respect to the Common Stock.

Pursuant to section 1123(a)(6) of chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”), the Company is prohibited from issuing any non-voting equity securities for so long as section 1123 of the Bankruptcy Code is in effect and applicable to the Company. This restriction on the issuance of non-voting equity securities is included in the Certificate.

The transfer agent and registrar for the Common Stock, which is listed on the New York Stock Exchange under the symbol KODK, is Computershare Shareowner Services.

Anti-Takeover Provisions

Various provisions contained in the Certificate, the By-Laws, and New Jersey law could delay or discourage some transactions involving an actual or potential change in control of the Company or its management. Provisions in the Certificate and the By-Laws:

 

	
 
	
•
	
provide that only a majority of the Board, the Chairman or the President may call a special meeting of the stockholders, except that a special meeting must be called upon the request from at least 20% of the total number of votes represented by the entire amount of capital stock of the Company issued and outstanding and entitled to vote at the meeting;

 

	
 
	
•
	
provide an advanced written notice procedure with respect to stockholder proposals and stockholder nomination of candidates for election as directors; and

 

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•
	
provide that directors may fill any vacancies on the Board, including vacancies resulting from an increase the number of directors.

 

In addition, the Company is subject to Section 14A-10A of the New Jersey Shareholders Protection Act, a type of anti-takeover statute designed to protect stockholders against coercive, unfair or inadequate tender offers and other abusive tactics and to encourage any person contemplating a business combination with the Company to negotiate with the Board for the fair and equitable treatment of all stockholders. Subject to certain qualifications and exceptions, the statute prohibits an interested stockholder of a corporation from effecting a business combination with the corporation for a period of five years unless the corporation’s board of directors approved the combination prior to the stockholder becoming an interested stockholder or after the stockholder becoming an interested stockholder if the corporation’s board of directors approved both the transaction causing a person to become an interested stockholder and the subsequent business combination. In addition, but not in limitation of the five-year restriction, if applicable, corporations covered by the New Jersey statute may not engage at any time in a business combination with any interested stockholder of that corporation unless the combination is approved by the board of directors prior to the interested stockholder’s stock acquisition date, the combination receives the approval of two-thirds of the voting stock of the corporation not beneficially owned by the interested stockholder or the combination meets minimum financial terms specified by the statute.

An “interested stockholder” is defined to include any beneficial owner of 10% or more of the voting power of the outstanding voting stock of the corporation and any affiliate or associate of the corporation who within the prior five year period has at any time owned 10% or more of the voting power of the then outstanding stock of the corporation.

The term “business combination” is defined to include a broad range of transactions including, among other things:

 

	
 
	
•
	
 
	
the merger or consolidation of the corporation with the interested stockholder or any corporation that is or after the merger or consolidation would be an affiliate or associate of the interested stockholder,

 

	
 
	
•
	
 
	
the sale, lease, exchange, mortgage, pledge, transfer or other disposition to an interested stockholder or any affiliate or associate of the interested stockholder of 10% or more of the corporation’s assets, or

 

	
 
	
•
	
 
	
the issuance or transfer to an interested stockholder or any affiliate or associate of the interested stockholder of 5% or more of the aggregate market value of the stock of the corporation.

The effect of the statute is to protect non-tendering, post-acquisition minority stockholders from mergers in which they will be “squeezed out” after the merger, by prohibiting transactions in which an acquirer could favor itself at the expense of minority stockholders. The statute generally applies to corporations that are organized under New Jersey law.

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