Document:

EX-10.1

 Exhibit 10.1 

SENIOR EXECUTIVE EMPLOYMENT AGREEMENT 

BETWEEN 
 iGATE
Technologies, Inc. 
 AND 

Ashok Vemuri 

 SENIOR EXECUTIVE EMPLOYMENT AGREEMENT 

This Senior Executive Employment Agreement is made as of the 28th day of August 2013 (the “Employment Agreement”) by and between
iGATE Technologies, Inc., a company incorporated in the Commonwealth of Pennsylvania with its registered office at CT Corporation System, 116 Pine Street, Suite 320, Harrisburg, PA 17101 (“iGTI”) and Ashok Vemuri (“Executive”).

 NOW THEREFORE, in consideration of the premises and the agreements and covenants set forth herein, and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, iGTI and Executive agree as follows: 

1. Definitions. As used herein: 

(a) “Action” shall mean any action, suit or legal, administrative or arbitral proceeding or investigation before any
governmental or regulatory authority; 
 (b) “Affiliate” with respect to a specified Person, means any other Person
directly or indirectly controlling, controlled by or under common control with such specified Person; provided, however, that, for purposes of this definition, the terms “controlling”, “controlled by” or “under common
control with” mean the possession, directly or indirectly, 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, or the power to
elect or appoint a majority of the directors, managers, partners or other individuals exercising similar authority with respect to such Person; 

(c) “Code” shall mean the Internal Revenue Code of 1986, as amended and the regulations promulgated thereunder; 

(d) “Company” shall mean iGATE Corporation, a Pennsylvania corporation and a parent company of iGTI
(“iGATE”), iGTI and any Affiliate or joint venture of iGATE or iGTI, including any direct or indirect holding company or subsidiary of iGATE or iGTI, as well as any of their respective operating divisions; 

(e) “Company Business” shall mean the business conducted by the Company; 

(f) “Confidential Information” shall include, but is not necessarily limited to, any information which may include, in
whole or part, information concerning the Company’s accounts, sales, sales volume, sales methods, sales proposals, customers or prospective customers, prospect lists, Company manuals, formulae, products, processes, methods, financial
information or data, compositions, ideas, improvements, inventions, research, computer programs, computer related information or data, system documentation, software products, patented products, copyrighted information, know how and operating
methods and any other trade secret or proprietary information belonging to the Company or relating to the Company’s affairs that is not public information; 

(g) “Competing Business” shall mean any business which provides, designs, develops, markets, engages in, invests in,
produces or sells any products, services, or businesses which are the same or similar to the Company Business or those provided, designed, developed, marketed, engaged in, invested in, produced or sold by the Company; 

  
 - 2 - 

 (h) “Customer(s)” shall mean any individual, corporation, partnership,
business or other entity, whether for-profit or not-for-profit (i) whose existence and business is known to Executive as a result of Executive’s access to the Company’s business information, Confidential Information, customer lists or
customer account information (including any Person to whom the Company makes a written proposal to provide services during the term of this Agreement); (ii) that is a business entity or individual with whom the Company has a valid and
subsisting contract as of the date of this Agreement; or (iii) a business entity or individual with whom the Company enters into a valid contract during the term of this Agreement; and 

(i) “Person” shall mean any individual, sole proprietorship, corporation, company, partnership, limited liability
company, joint venture, unincorporated society, governmental authority, association or trust or any other entity or organization. 

2. Employment. iGTI hereby employs the Executive and Executive hereby accepts full time employment with iGTI on the terms
and conditions contained in this Employment Agreement. Except as set forth in Schedule 1 hereto, Executive confirms that there are no Actions pending against him and, to the best knowledge of Executive, there are no Actions threatened
against him.  
 3. Term. This Employment Agreement shall commence on the date that Executive commences his employment
with the Company which shall be on or before September 30, 2013 (the “Effective Date”) and continue for a five (5) year period ending on the fifth (5th) anniversary of the Effective Date (the “Initial Term”). Upon
expiration of the Initial Term, this Employment Agreement shall automatically renew for additional successive five (5) year terms unless and until either iGTI or Executive provides written notice of nonrenewal at least 180 days prior to the end
of the then-current term (each a “Renewal Term” and together with the Initial Term, the “Term”), or unless and until sooner terminated as provided hereunder. If the Term is renewed for any Renewal Term(s) pursuant to this
Section, the terms and conditions of this Agreement during each such Renewal Term shall be the same as the terms in effect immediately prior to such renewal. In the event either IGTI or Executive provides timely notice of its or his intent not to
renew this Employment Agreement, then, unless otherwise terminated in accordance with its terms, this Employment Agreement shall terminate on the expiration of the then-current Term. 

4. Duties. 
 (a)
Executive shall serve iGTI as President and Chief Executive Officer and agrees to serve in the same positions with iGATE and to promote the Company’s interests, be responsible for such duties as are commensurate with and required by such
positions, and any other duties as may be assigned to Executive by the board of directors of iGATE (the “Board”) from time to time. Executive will be responsible for the day-to-day business operations of the Company, subject to the
supervision and direction of the board of directors of iGTI or the Board. 
 (b) As of the Effective Date, Executive shall be appointed to
serve as a member of the Board and thereafter shall be nominated for reelection as a member of the Board as Executive’s term as director expires. 

  
 - 3 - 

 (c) Executive agrees to perform his duties in a diligent, trustworthy, loyal, businesslike,
productive, and efficient manner and to use his best efforts to advance the business and goodwill of the Company. Executive agrees to devote all of his business time, skill, energy and attention exclusively to the business of the Company except for
(i) positions on the board of directors of other companies or organizations currently held by Executive and disclosed on Schedule 2 hereto, and (ii) positions on the board of directors of other companies proposed to be taken up by
Executive and disclosed to iGTI and in respect of which iGTI grants its approval in writing. 
 (d) During the time Executive is employed
with iGTI, he will not engage in any other business for his own account or be employed by any other Person, or render any services, give any advice or serve in a consulting capacity, whether gratuitously or otherwise, to or for any other Person
without the prior written approval of iGTI. 
 5. Place of Work. Executive will be based in the New York/New Jersey
Metropolitan Area, United States of America, but may be relocated to other locations, based on mutual agreement. Executive’s duties will include travel in the [United States of America, India and other countries], often at short notice.
Executive confirms that he has a valid passport and that iGTI has entered into this Employment Agreement on that understanding.  

6. Compensation. Executive’s annual salary and other compensation as of the date of this Employment Agreement are as
set forth on Attachment A hereto. The salary and compensation are subject to being reviewed and modified annually by iGTI. iGTI shall be entitled to withhold from any payments due to Executive pursuant to the provisions of this
Employment Agreement, any amounts required to be withheld by/under any applicable taxing or other statutory provision or authority, or any amounts loaned to Executive by the Company.  

7. Policies and Practices. Executive agrees to abide by all the Company rules, regulations, instructions, policies,
practices and procedures as amended from time to time and as posted on the Company’s intranet and to indemnify the Company for any loss suffered as a consequence of a breach by Executive of such Company rules, regulations, instructions,
policies, practices and procedures.  
 8. Non-Competition. In order to protect the Company’s legitimate
and protectable business interest, including, but not limited to, its goodwill, customer relationships, and Confidential Information, Executive covenants and agrees that for the entire period of his employment with iGTI, and for an additional twelve
(12) month period following the termination of Executive’s employment with iGTI, whether by Executive or by the Company, for any reason, Executive shall not either directly or indirectly, except as provided in Sections 4(c) and 4(d) above,
engage in any Competing Business or to own, manage, operate, control or participate in, or have any ownership interest in (except an ownership not exceeding two percent (2%) of the stock of a listed public company), or make loans to, or promote
or assist financially or otherwise aid or advise as an agent, consultant, officer, partner, director, employee, independent contractor or otherwise, whether directly or indirectly, any Person who is engaged in, or operates, or attempts to operate
any business or service which is a Competing Business anywhere in the world, including the United States of America or any political sub-division thereof.  

9. Non-Solicitation. In order to protect the business interest and goodwill of the Company with respect to Customers and
accounts, and to protect Confidential Information, 

  
 - 4 - 

 
Executive covenants and agrees that for the entire period of his employment with iGTI, and for a period of one (1) year following termination of Executive’s employment with iGTI, either
by Executive or by the Company, for any reason, Executive shall not: 
 (a) directly or indirectly solicit, induce, or attempt to induce,
any Customer of the Company to purchase, lease or license a product or service that is the same as, similar to, or in competition with those products and/or services provided, rendered, offered or under development by the Company; or 

(b) directly or indirectly interfere with or attempt to disrupt the relationship, contractual or otherwise, between the Company and any of its
employees or solicit, induce or attempt to induce employees of the Company to terminate employment with the Company and become self-employed or employed with others, or knowingly permit any Person or business directly or indirectly controlled by him
to do any of the foregoing. 
 10. Nondisclosure and Nonuse of Confidential Information. Executive covenants and agrees
that during Executive’s employment or any time after the termination of such employment, whether by Executive or by the Company, for any reason, Executive will not communicate or divulge to any Person, either directly or indirectly, and will
hold in strict confidence for the benefit of the Company, all Confidential Information; except that Executive may disclose such Confidential Information to Persons who need to know such Confidential Information during the course and within the scope
of Executive’s employment for the benefit of the Company. Executive will not use any Confidential Information for any purpose or for Executive’s personal benefit other than in the course and within the scope of Executive’s employment.
Executive agrees to sign and abide by the terms and conditions of the Confidential Information and Intellectual Property Protection Agreement, a copy of which is attached hereto as Attachment B and incorporated as though fully set forth
herein. Notwithstanding the foregoing, the confidentiality obligations of this Section 10 will not apply to information which: (a) Executive is compelled to disclose pursuant to any applicable law or any order of any court of competent
jurisdiction or any competent judicial, governmental or regulatory body; (b) can be shown to have been generally available to the public other than as a result of a breach by Executive of his confidentiality obligations herein contained; or
(c) can be shown to have been provided to Executive by a third party who obtained such information other than from Executive or other than as a result of a breach by Executive of his confidentiality obligations herein contained.  

11. Termination. 

(a) Involuntary Termination. iGTI may terminate Executive’s employment with or without cause under the following conditions: 

(i) With Cause. iGTI may, immediately and without notice, terminate Executive from employment with “Cause”.
“Cause” shall mean (i) the commission of a crime involving moral turpitude, theft, fraud or deceit; (ii) conduct that has or is likely to have an adverse effect on the Company’s reputation, (iii) substantial or
continued unwillingness to perform duties as reasonably directed by the board of directors of iGTI; (iv) gross negligence or deliberate misconduct; or (v) any material breach of Section 7 and any breach of Sections 2, 4, 8, 9, 10, or
15 of this Employment Agreement, or the Confidential Information and Intellectual Property Protection Agreement. Executive 

  
 - 5 - 

 
acknowledges that he has continuing obligations under this Employment Agreement including, but not limited to Sections 8, 9, and 10, in the event that he is terminated with Cause; provided that
if Executive’s employment is terminated pursuant to Section 11(a)(ii), then Executive will be paid six (6) months (“Severance Period”) severance pay based on Executive’s last Annual Base Salary (as defined in
“Attachment A”). 
 (ii) Without Cause. In the event that Executive’s employment is terminated
without Cause, Executive will be given not less than six (6) months prior written notice of such termination. In the event iGTI desires to terminate Executive’s employment without Cause, without prior notice as set out in this
Section 11(a)(ii), then Executive will be paid severance pay for the Severance Period based on Executive’s last Annual Base Salary. Severance pay under this Section 11(a)(ii) is conditioned upon Executive first signing an irrevocable
agreement and release of all claims against the Company in accordance with the Company’s policies, as amended from time to time, within 60 days following the termination. All severance payments under this Section 11(a)(ii) will be paid on
a monthly basis with the first payment date commencing on the 65th day following the termination. Executive acknowledges Executive’s continuing obligations under this Employment Agreement
including, but not limited to Sections 8, 9 and 10, in the event that Executive is terminated without Cause. 
 (b) Voluntary
Termination. Executive may terminate his employment by giving not less than three (3) months prior written notice of his intention to terminate, provided, however, that iGTI may decide to end his employment at any time during
those three (3) months, upon payment to Executive of the salary due to Executive for the remainder of the said three (3) months notice period based on Executive’s last basic salary. Severance pay under this Section 11(b) is
conditioned upon Executive first signing an irrevocable agreement and release of all claims against the Company in accordance with the Company’s policies, as amended from time to time, within 60 days following the termination. All severance
payments under this Section 11(b) will be paid on a monthly basis with the first payment date commencing on the 65th day following the termination. Executive acknowledges his continuing
obligations under this Employment Agreement including, but not limited to Sections 8, 9 and 10, in the event that Executive terminates his employment with iGTI. 

(c) Except as otherwise set forth in Section 24 hereof, this Employment Agreement will terminate upon the expiration of the Term. 

(d) If, on the date that Executive’s employment is terminated, Executive is a member of the Board, or holds any other position with the
Company, Executive shall be deemed to have resigned from all such positions as of the date of termination. Executive agrees to execute such documents and take such other actions as the Company may request to reflect such resignation. 

12. Section 409A. 

(a) Interpretation. This Employment Agreement is intended to comply with the requirements of section 409A of the Code, and
specifically, with the “short-term deferral exception” under Treas. Reg. section 1.409A-1(b)(4) and the “separation pay exception” under Treas. Reg. section 1.409A-1(b)(9)(iii), and shall in all respects be administered and
construed in accordance with section 409A of the Code. If any payment or benefit hereunder cannot be 

  
 - 6 - 

 
provided or made at the time specified herein without incurring sanctions on Executive under section 409A of the Code, then such payment or benefit shall be provided in full at the earliest time
thereafter when such sanctions will not be imposed. For purposes of section 409A of the Code, all payments to be made upon a termination of Executive’s employment under this Employment Agreement may only be made upon a “separation from
service” (within the meaning of such term under section 409A of the Code), each payment made under this Employment Agreement shall be treated as a separate payment, the right to a series of installment payments under this Employment Agreement
is to be treated as a right to a series of separate payments, and if a payment is not made by the designated payment date under this Employment Agreement, the payment shall be made by December 31 of the calendar year in which the designated
date occurs. To the extent that any payment provided for hereunder would be subject to additional tax under section 409A of the Code, or would cause the administration of this Employment Agreement to fail to satisfy the requirements of section 409A
of the Code, such provision shall be deemed null and void to the extent permitted by applicable law, and any such amount shall be payable in accordance with Section 12(b) below. In no event shall Executive, directly or indirectly, designate the
calendar year of payment. 
 (b) Payment Delay. Notwithstanding anything herein to the contrary, if it is necessary to postpone the
commencement of any payments or benefits otherwise payable under this Employment Agreement as a result of Executive’s “separation from service” with the Company to prevent the imposition of any accelerated or additional tax under
section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to Executive) that are not otherwise
paid within the “short-term deferral exception” under Treas. Reg. section 1.409A-1(b)(4) and the “separation pay exception” under Treas. Reg. section 1.409A-1(b)(9)(iii), until the first payroll date that occurs after the date
that is six months following Executive’s “separation of service” with the Company. If any payments are postponed due to such requirements, such postponed amounts will be paid to Executive in a lump sum on the first payroll date that
occurs after the date that is six months following Executive’s “separation of service” with the Company. If Executive dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of
section 409A of the Code shall be paid to the personal representative of Executive’s estate within sixty (60) days after the date of the Executive’s death. 

(c) Reimbursements. All reimbursements provided under this Employment Agreement shall be made or provided in accordance with the
requirements of section 409A of the Code, including, where applicable, the requirement that (i) any reimbursement is for expenses incurred during Executive’s lifetime (or during a shorter period of time specified in this Executive
Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or
before the last day of the taxable year following the year in which the expense is incurred, and (iv) the right to reimbursement is not subject to liquidation or exchange for another benefit. 

13. Equitable Relief; Fees and Expenses. Executive stipulates and agrees that any breach of this Employment Agreement by him
will result in immediate and irreparable harm to the Company, the amount of which will be extremely difficult to ascertain, and that the Company 

  
 - 7 - 

 
could not be reasonably or adequately compensated by damages in an action at law. For these reasons, iGTI shall have the right, without objection from Executive, to obtain such preliminary,
temporary or permanent injunctions or restraining orders or decrees as may be necessary to protect the Company against, or on account of, any breach by Executive of the provisions of this Employment Agreement without the need to post bond. Such
right to equitable relief is in addition to all other legal remedies iGTI may have to protect its rights. In the event iGTI obtains any such injunction, order, decree or other relief, in law or in equity, for any breach by Executive of the
provisions of this Employment Agreement, Executive shall be responsible for reimbursing iGTI for all costs associated with obtaining the relief, including reasonable attorneys’ fees, and expenses and costs of suit. 

14. Amendments. No supplement, modification, amendment or waiver of the terms of this Employment Agreement shall be binding on
the parties hereto unless executed in writing by the party to be bound thereby. No waiver of any of the provisions of this Employment Agreement shall be deemed to or shall constitute a waiver of any other provisions hereof (whether or not similar),
nor shall such waiver constitute a continuing waiver unless otherwise expressly provided. Any failure to insist upon strict compliance with any of the terms and conditions of this Employment Agreement shall not be deemed a waiver of any such terms
or conditions. 
 15. Acknowledgments of Executive. 

(a) Executive hereby acknowledges and agrees that: (i) this Employment Agreement is necessary for the protection of the legitimate
business interests of the Company, including, but not limited to, its goodwill, customer relationships, and Confidential Information; (ii) the restrictions contained in this Employment Agreement may be enforced in a court of law whether or not
Executive is terminated with or without Cause; (iii) Executive has no intention of competing with the Company within the limitations set forth above; (iv) Executive has received adequate and valuable consideration for entering into this
Employment Agreement; (v) Executive’s covenants shall be construed as independent of any other provision in this Employment Agreement and the existence of any claim or cause of action Executive may have against the Company, whether
predicated on this Employment Agreement or not, shall not constitute a defense to the enforcement by the Company of these covenants; and (vi) the execution and delivery of this Employment Agreement is a mandatory condition precedent to
Executive’s receipt of the consideration provided herein. 
 (b) Executive acknowledges that the Company is engaged in business in the
United States of America, as well as in other countries and that the marketplace for the Company’s products and services is worldwide. Executive further covenants and agrees that the length of term and types of activities restricted
(non-competition and non-solicitation restrictions) contained in this Employment Agreement are reasonable and necessary to protect the legitimate business interests of the Company because of the scope of the Company’s business. 

(c) In the event that a court of competent jurisdiction shall determine that one or more of the provisions of Sections 8 or 9 are so broad as
to be unenforceable, then such provision shall be deemed to be reduced in scope or length, as the case may be, to the extent required to make Section 8 or 9, as applicable, enforceable. If Executive violates the provisions

  
 - 8 - 

 
of Section 9, the period described therein shall be extended by that number of days which equals the aggregate of all days during which at any time any such violations occurred. Executive
acknowledges that the offer of employment by iGTI and the compensation payable for entering into this Employment Agreement is sufficient consideration for Executive’s agreement to the restrictive covenants set forth in Sections 8 and 9. 

16. Full Understanding. Executive acknowledges that he has been afforded the opportunity to seek legal counsel, he has carefully
read and fully understands all of the provisions of this Employment Agreement and that he, in consideration for the compensation set forth herein, is voluntarily entering into this Employment Agreement. 

17. Severability. This Employment Agreement supersedes all prior agreements, written or oral, between the parties hereto
concerning the subject matter hereof. Whenever possible, each provision of this Employment Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Employment Agreement is held to
be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or any other jurisdiction, but this Employment Agreement
shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. The restrictive covenants stated herein may be read as if separate and apart from this Employment
Agreement and shall survive the termination of Executive’s employment with iGTI for any reason. 
 18. Entire Agreement.
This Employment Agreement, the other agreements provided for herein and the Attachments and Schedules attached hereto, set forth the entire understanding of the parties with respect to the subject matter hereof, and supersedes all prior contracts,
agreements, arrangements, communications, discussions, representation and warranties, whether written or oral, between iGTI and Executive. 

19. Governing Law; Jurisdiction. The parties agree that this Employment Agreement shall be construed and enforced in accordance
with, and the rights of parties shall be governed by the laws of the State of New Jersey, without giving effect to the conflict of law provisions thereof. The courts in New Jersey shall have exclusive jurisdiction to entertain any suit, dispute,
litigation or legal proceedings in respect of or under this Employment Agreement. 
 20. Assignment. The Company shall have
the right to assign this Employment Agreement to any Affiliate or to any other Person in connection with a merger, consolidation or restructuring involving the Company, or a sale or transfer of the business or substantially all of the assets of the
Company, and Executive agrees to be obligated by this Employment Agreement to any such assignee. In the event that the Company assigns this Employment Agreement and Executive is terminated without Cause, Executive shall be entitled to receive
severance pay for the Severance Period based on Executive’s last Annual Base Salary. Executive may not assign this Employment Agreement. 

  
 - 9 - 

 21. Notices. Any notice or other communication required or permitted to be given
under this Employment Agreement shall be in writing and shall be duly given if delivered, or if sent by prepaid registered mail or if transmitted by facsimile to a party at its address set forth below: 

 

	 	(a)	to the Company at: 

  

			
	Address:	  	iGTI
		  	1000 Commerce Drive,
		  	Fifth Floor,
		  	Pittsburgh, PA 15275
		  	Facsimile: 412-291-1188
		  	Attention: Sunil Wadhwani

  

	 	(b)	to Executive at: 

  

			
	Address:	  	1000 Commerce Drive,
		  	 Fifth Floor,

		  	Pittsburgh, PA 15275
		  	Facsimile: 412-291-1188
		  	Attention: Ashok Vemuri

 or to such other address as the party to whom such notice is to be given shall have last notified the party giving the notice
in the manner provided in this Section 21. Any notice delivered to the party to whom it is addressed in the manner provided in this Section 21 shall be deemed to have been given and received on the day it is so delivered at such address,
provided that if such day is not a business day, then the notice shall be deemed to have been given and received on the next business day, then the notice shall be deemed to have been given and received on the next business day. Any notice sent by
prepaid registered mail shall be deemed to have been given and received on the fifth business day following the date of its mailing. Any notice transmitted by facsimile shall be deemed given and received upon receipt of a confirmed answer back
following transmission. 
 22. Counterparts. This Employment Agreement may be executed in counterparts, each of which will be
deemed an original, but both of which together will constitute one and the same instrument. 
 23. Headings. The headings used
in this Employment Agreement are for convenience only and are not to be considered in construing or interpreting this Employment Agreement. 

24. Survival. The provisions of Sections 8, 9, 10, 11, 13, 15, 19 and this Section 24 of this Employment Agreement shall
survive the expiration of the Term and termination of Executive’s employment with the Company for any reason. 
 25.
Indebtedness. If the Executive becomes indebted to the Company for any reason, the Company may, if it so elects, set off the whole or part of such outstanding amount from any amount due and payable to the Executive. 

26. Waiver. No waiver of any of the provisions of this Agreement by the Company shall be deemed to or shall constitute a waiver
of any other provisions of this Agreement nor shall such waiver constitute a continuing waiver unless otherwise expressly provided. Any failure on the part of the Company to insist upon strict compliance with any of the terms and conditions of this
Agreement shall not be deemed a waiver of any of the terms contained in this Agreement. 
 27. Conflicts. The Executive’s
performance of the provisions of this Agreement shall not breach and/or constitute a breach of the Executive obligations to any other person or entity and the Executive has not and will not at any time hereafter enter into any oral/written agreement
in conflict with the provisions of this Agreement. 

  
 - 10 - 

 28. Company Policies. The Executive agrees that he has been given the opportunity
to read the terms and conditions of the various policies, procedures and processes of the Company (collectively the “Company Policies”) including the Human Resource Policy of the Company and Information Technology Policy of the Company.
The Executive further agrees that the Executive will be bound to all the terms and conditions of the Company Policies. The Executive understands that the Company Policies are subject to review and may be modified periodically and all such modified
Company Policies shall be applicable to the Executive. 
 [Signature Page Follows] 

  
 - 11 - 

 I ACKNOWLEDGE THAT I HAVE CAREFULLY READ AND FULLY UNDERSTAND ALL OF THE PROVISIONS OF THIS
EMPLOYMENT AGREEMENT AND THAT I AM VOLUNTARILY ENTERING INTO THIS EMPLOYMENT AGREEMENT. 
  

									
	iGATE Technologies, Inc.	 		 	
				
	By:	 	 /s/ Sunil Wadhwani
	 		 	 /s/ Ashok Vemuri

		 	Name:	 	Sunil Wadhwani	 		 	Ashok Vemuri
		 	Title:	 	Chairman	 		 	
					
	Date:	 		 		 		 	Date: 8/28/2013

  
 - 12 - 

 Compensation 

ATTACHMENT A 
  

	1.	Annual Base Salary. Executive’s annual base salary will be at an annual rate of US$ 1.3 million dollars (or a monthly base salary of US$ 108,333 dollars) (“Annual Base
Salary”); provided that the Board may, at their discretion, review the Annual Base Salary of Executive from time to time and grant such increases, as may be deemed appropriate. The monthly base salary shall be paid on regularly scheduled
monthly payroll dates. Notwithstanding the foregoing, Executive’s Annual Base Salary for 2013 will be prorated based on the number of days employed during the year. 

 

	2.	Annual Performance Based Incentive. For each calendar year occurring during the Term, Executive shall participate in the Company’s annual cash incentive bonus program (“Annual Performance Based
Incentive”) and be entitled to an Annual Performance Based Incentive payment (the “Bonus”) based upon iGATE’s achievement of certain revenue, earnings per share (“EPS”) and earnings before interest, taxes, depreciation
and amortization (“EBITDA”) targets and such other strategic goals or targets set by the Compensation Committee of the Board in conjunction with Executive. The target Bonus shall be US$ 500,000 dollars (the “Target
Bonus”), but the actual Bonus will range from 0% to 200% (US$ 1 million dollars) of the Target Bonus, as determined by measuring iGATE’s actual performance against the predetermined targets. The Bonus will be quantified and
paid within the two and half month period of the year following the year to which it relates. Any future adjustments to the Annual Performance Based Incentive will be prospective. Notwithstanding the foregoing, Executive’s Target Bonus for 2013
will be prorated based on the number of days employed during the year. 

  

	3.	Initial Equity Awards. On the Effective Date, Executive shall be granted the following equity pursuant to iGATE’s 2006 Stock Incentive Plan (the “Plan”): 

 

	 	(a)	150,000 options with the exercise price at the Fair Market Value as defined in the Plan on the Effective Date and a four-year vesting schedule, with 25% of the awards vesting at the end of each year from the date
granted provided that Executive remains an employee of the Company on the applicable vesting date; 

  

	 	(b)	100,000 restricted stock units with a four-year vesting schedule, with 25% of the awards vesting at the end of each year from the date granted provided that Executive remains an employee of the Company on the applicable
vesting date; and 

  

	 	(c)	 300,000 target amount of performance-based restricted shares of iGATE (the “Performance Shares”) vesting upon iGATE’s attainment of a
twelve-month trailing adjusted EBITDA goal of US$ 400 million dollars at any eligible fiscal quarter end on or before June 30, 2017 (the “Target EBITDA”) provided, however, that in the event iGATE attains twelve-month
trailing adjusted EBITDA of US$ 500 million dollars or greater (the “Maximum EBITDA”) during this period, the number of Performance 

	 	
Shares shall be increased to an aggregate amount of 600,000. In the event that iGATE attains twelve-month trailing EBITDA between the Target EBITDA and the Maximum EBITDA, the aggregated number
of Performance Shares earned will be prorated. 

  

	4.	Expenses. iGTI will reimburse all properly documented expenses reasonably related to Executive’s performance of Executive’s duties hereunder in accordance with its standard policy.

  

	5.	Holidays. Executive will be entitled to avail of holidays as per the policies of iGTI in force from time to time. 

  

	6.	Benefits. Executive’s entitlement to the benefit schemes of iGTI shall be in accordance with the applicable law and as per iGTI policies in force from time to time. Executive is entitled to join the
benefit schemes of iGTI, which may include health or other insurance packages, if iGTI decides to offer these to its employees. Executive understands that, if offered, the terms of these schemes may be changed from time to time by iGTI and agrees to
keep himself informed of the same. 

  

	7.	Other Benefits. Executive will be entitled to a company car and golf club membership and will be reimbursed for any related expenses in accordance with Section 12(c) of this Employment Agreement.

  
 - 2 - 

 ATTACHMENT B 

CONFIDENTIAL INFORMATION AND INTELLECTUAL PROPERTY 

PROTECTION AGREEMENT 
 This Agreement is
made as of the 28th day of Auguest 2013 (the “Agreement”) by and between iGATE Technologies, Inc., a company incorporated in the Commonwealth of Pennsylvania with its registered office at CT Corporation System, 116 Pine Street, Suite 320,
Harrisburg, PA 17101 (“iGTI”) and Ashok Vemuri (“Executive”). 
 RECITALS 

WHEREAS, Executive has been employed by the Company as President and Chief Executive Officer of iGTI, and that in the performance of
Executive’s duties in such capacity, Executive will acquire Confidential Information or Trade Secrets (as those terms are defined below) relating to the Company’s business (or that of its Affiliates or Customers) and Executive may develop
copyrightable works, inventions or improvements relating to the Company’s products and business (or that of its Affiliates); and 

WHEREAS, it is the understanding between the Company and Executive that the Company shall have certain rights in such Confidential
Information, Trade Secrets, copyrightable works, inventions and improvements. 
 NOW, THEREFORE, in consideration of the Company’s
agreement to employ Executive and the salary and other compensation paid to Executive by the Company during Executive’s employment by the Company, Executive agrees as follows: 

1. As used herein: 
 (a)
“Affiliate” with respect to a specified Person, means any other Person (a) directly or indirectly controlling, controlled by or under common control with such specified Person; or (b) who is a Relative of such
Person or their Affiliate; provided, however, that, for purposes of this definition, the terms “controlling”, “controlled by” or “under common control with” mean the possession, directly or indirectly, 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, or the power to elect or appoint a majority of the directors, managers, partners or other
individuals exercising similar authority with respect to such Person; 
 (b) “Company” shall mean iGATE Corporation,
a Pennsylvania corporation and a parent company of iGTI (“iGATE”), iGTI and any Affiliate or joint venture of iGTI, including any direct or indirect holding company or subsidiary of iGATE or iGTI, as well as any of their respective
operating divisions; 
 (c) “Confidential Information” shall include, but is not necessarily limited to, any
information which may include, in whole or part, information concerning the Company’s accounts, sales, sales volume, sales methods, sales proposals, customers or prospective 

 
customers, prospect lists, Company manuals, formulae, products, processes, methods, financial information or data, compositions, ideas, improvements, inventions, research, computer programs,
computer related information or data, system documentation, software products, patented products, copyrighted information, know how and operating methods and any other trade secret or proprietary information belonging to the Company or relating to
the Company’s affairs that is not public information; 
 (d) “Customer(s)” shall mean any individual,
corporation, partnership, business or other entity, whether for-profit or not-for-profit (i) whose existence and business is known to Executive as a result of Executive’s access to the Company’s business information, Confidential
Information, customer lists or customer account information (including any Person to whom the Company makes a written proposal to provide services during the term of the Executive’s employment with the Company); (ii) that is a business
entity or individual with whom the Company has a valid and subsisting contract as of the date of this Agreement; or (iii) a business entity or individual with whom the Company enters into a valid contract during the term of this Agreement; 

(e) “Person” means any individual, sole proprietorship, partnership, corporation, limited liability company,
unincorporated society, governmental authority, association or trust or any other entity or organization; and 
 (f) “Trade
Secret” means any useful process, machine or other device or composition of matter which is new and which is being used or studied by the Company and is not described in a patent or described in any literature already published and
distributed externally by the Company; the source code or algorithms of any software developed or owned by the Company; any formula, plan, tool, machine, process or method employed by the Company, whether patentable or not, which is not generally
known to others; business plans and marketing concepts of the Company; marketing or sales information of the Company; financial information or projections regarding the Company or potential acquisition candidates of the Company; financial, pricing
and/or credit information regarding clients or vendors of the Company; a listing of names, addresses or telephone numbers of Customers or clients of the Company; internal corporate policies and procedures of the Company; and any other undisclosed
information protected in accordance with any applicable law. 
 2. Executive hereby acknowledges and agrees that each of the copyrightable works authored by
Executive (including, without limitation, all software and related documentation and all web site designs), alone or with others, during Executive’s employment by the Company shall be deemed to have been to be works prepared by Executive within
the scope of Executive’s employment by the Company and, as such, shall be deemed to be “works made in the course of employment under a contract of service” under Indian copyright laws from the inception of creation of such
copyrightable works. In the event that any of such copyrightable works shall be deemed by a court of competent jurisdiction not to be a “works made in the course of employment under a contract of service”, this Agreement shall operate as
an irrevocable assignment by Executive to the Company of all right, title and interest in, and to, such copyrightable works, including, without limitation, all worldwide copyright interests therein, in perpetuity. The fact that such copyrightable
works are created by Executive outside of the Company’s facilities or other than during Executive’s working hours with the Company shall not diminish the Company’s rights 

  
 - 2 - 

 
with respect to such works which otherwise fall within this paragraph 2. Executive agrees to execute and deliver to the Company such further instruments or documents as may be requested by the
Company in order to effectuate the purposes of this paragraph 2. 
 3. Executive shall promptly and fully disclose to the Company all inventions or
improvements made or conceived by Executive, solely or with others, during Executive’s employment by the Company and, where the subject matter of such inventions or improvements results from or is suggested by any work which Executive may do
for, or on behalf of, the Company or relates in any way to the Company’s products, business or operations (or that of its Affiliates), the Company shall have all rights to such inventions and improvements, whether they are patentable or not.
The fact that such inventions and improvements are made or conceived by Executive outside of the Company’s facilities or other than during Executive’s working hours with the Company shall not diminish the Company’s rights with respect
to such inventions or improvements which otherwise fall within this paragraph 3. 
 4. Notwithstanding anything in this Agreement, the Company shall have no
rights pursuant to this Agreement in any invention of Executive made during the term of Executive’s employment by the Company, if such invention has not arisen out of, or by reason of, Executive’s work with the Company or does not relate
to the products, business or operations of the Company or that of its Affiliates, although Executive shall nonetheless inform the Company of any such invention. 

5. At the request of the Company, either during or after termination of Executive’s employment by the Company, Executive shall execute, or join in
executing, all papers or documents required for the filing of patent applications in India and such foreign countries as the Company may elect, and Executive shall assign all such patent applications to the Company or its nominee, and shall provide
the Company or its agents or attorneys with all reasonable assistance in the preparation and prosecution of patent applications, drawings, specifications and the like, all at the expense of the Company, and shall do all that may be necessary to
establish, protect and maintain the rights of the Company or its nominee in the inventions, patent applications and specifications in accordance with the spirit of this Agreement. 

6. Executive shall treat as confidential all Trade Secrets and Confidential Information belonging to the Company (or information belonging to third parties to
which the Company shall owe an obligation of secrecy), which is disclosed to Executive, or which Executive may acquire or develop, or which Executive may observe in the course of Executive’s employment by the Company and which at the time of
disclosure is not previously known to Executive, and not known or used by others in the trade generally, and Executive shall not disclose, publish or otherwise use, either during or after termination of Executive’s employment by the Company,
any such Trade Secrets or Confidential Information without the prior written consent of the Company except that Executive may disclose such Confidential Information to Persons who need to know such Confidential Information during the course and
within the scope of Executive’s employment. Notwithstanding the foregoing, the confidentiality obligations of this paragraph 6 will not apply to information which: (a) Executive is compelled to disclose pursuant to any applicable law or
any order of any court of competent jurisdiction or any competent judicial, governmental or regulatory body; (b) can be shown to have been generally available to the public other than as a result of a breach by Executive of his confidentiality
obligations herein contained; or (c) can be shown to have been provided to Executive by a third party who obtained such information other than from Executive or other than as a result of a breach by Executive of his confidentiality obligations
herein contained. 

  
 - 3 - 

 7. Upon termination of employment with Company for any reason, Executive shall promptly deliver to Company the
originals and copies of all correspondence, drawings, manuals, computer related or generated information, letters, notes, notebooks, reports, prospect lists, customer lists, flow charts, programs, proposals, and any documents concerning
Company’s business, Customers or suppliers and, without limiting the foregoing, will promptly deliver to Company any and all other documents or materials containing or constituting Confidential Information or Trade Secrets. Executive agrees to
maintain the integrity of all stored computer information and agrees not to alter, damage or destroy said computer information before returning it to Company. 

8. Executive shall keep and maintain adequate and current written records of all Trade Secrets and Confidential Information made by Executive (solely or
jointly with others) during the term of employment (“Records”). The Records may be in the form of notes, sketches, drawings, flow charts, electronic data or recordings, laboratory notebooks and any other format. The Records will be
available to and remain the sole property of the Company at all times. Executive shall not remove such Records from the Company’s place of business except as expressly permitted by the Company. 

9. This Agreement shall in no way alter, or be construed to alter, the terms and conditions of any employment agreement entered into by Executive with the
Company. The Company may utilize any portion of Executive’s employment agreement to enforce the terms and conditions set forth herein and remedy any violation of this Agreement. The Company has the exclusive right to assign this Agreement. 

10. The parties agree that this Agreement shall be governed by the laws of the State of New York. Jurisdiction and venue is exclusively limited in any
proceeding by the Company or Executive to enforce their rights hereunder to the courts of New York. 
 I ACKNOWLEDGE THAT I HAVE CAREFULLY READ AND FULLY
UNDERSTAND ALL OF THE PROVISIONS OF THIS AGREEMENT AND THAT I AM VOLUNTARILY ENTERING INTO THIS AGREEMENT. I UNDERSTAND THAT I AM REQUIRED TO SIGN THIS AGREEMENT AS A CONDITION OF MY EMPLOYMENT. 

 

			
	Signature:	 	 /s/ Ashok Vemuri

	Executive:	 	Ashok Vemuri

 Date: 8/28/2013 

  
 - 4 - 

 SCHEDULE 1 

Actions Pending or Threatened Against Executive 

None 

 SCHEDULE 2 

Directorships currently held by Executive 

Board Member, Duke University Fuqua School of BusinessEX-4.1

 Exhibit 4.1 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED 
(THE “SECURITIES ACT”) OR APPLICABLE STATE
SECURITIES LAWS. THIS SECURITY MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OR APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION
THEREFROM. 
 THIS NOTE IS SUBJECT TO THE TERMS AND CONDITIONS OF THE INTERCREDITOR AND SUBORDINATION AGREEMENT, DATED AS OF SEPTEMBER 13, 2013, TO
BE EFFECTIVE AS OF SEPTEMBER 1, 2013, BY AND AMONG JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT, USMD HOLDINGS, INC. AND THE HOLDER OF THIS NOTE, AS SUCH INTERCREDITOR AND SUBORDINATION AGREEMENT MAY BE AMENDED, RESTATED, REPLACED, REFINANCED,
SUPPLEMENTED OR MODIFIED FROM TIME TO TIME (THE “SUBORDINATION AGREEMENT”). 
 5% CONVERTIBLE SUBORDINATED NOTE DUE
2019 
  

			
	Note No. [            ]	  	$[                    ]

 USMD Holdings, Inc., a Delaware corporation (the “Company”), for value received, hereby
promises to pay to the order of [                                ], or assigns (the
“Holder”), at the time and in the manner hereinafter provided, the principal sum of
[                                ] DOLLARS
($[                    ]). This Note is one of the several 5% Convertible Subordinated Notes Due 2019 (collectively, the “Notes”) in
the aggregate principal amount of $24,341,764.00 issued pursuant to those certain Securities Exchange Agreements, dated as of September 1, 2013, and relating to acquisition by the Company of the Class P Units of USMD Hospital at Arlington, L.P.

 1. Payment. 
 (a)
Principal Amount. The outstanding principal amount of this Note together with all interest accrued thereon, shall be due and payable on March 1, 2019. 

(b) Interest. Interest shall accrue on the unpaid principal balance of this Note at the rate of 5.0% per annum. Accrued and unpaid
interest shall be due and payable on September 30, , 2013, and thereafter on the last day of each month, until the principal amount of this Note, plus all accrued interest thereon, has been paid in full. Interest under this Note shall accrue
based on the actual number of days elapsed in a year assumed to consist of 365 days. Upon the occurrence of an Event of Default (as defined herein), and for so long as such Event of Default continues, interest shall accrue on the outstanding
principal amount of this Note at the rate of 7.00% per annum. 
 (c) Manner of Payment. Payment shall be made in immediately
available funds in accordance with the written wire transfer instructions supplied by the Holder from time to time to the Company. 
 2.
Prepayment. Subject to the terms of the Subordination Agreement, this Note may be prepaid in whole or in part from time to time on and after September 1, 2014 upon 60 days’ prior written notice to the Holder. Any partial prepayment
shall be applied first to accrued but unpaid interest hereon, if any, with the remainder of any such prepayment being applied to the reduction of principal. 

 3. Conversion. 

(a) Right of Conversion; Procedures for Conversion. The Holder shall have the right at any time after September 1, 2014 to convert
all or any part of the unpaid principal balance of this Note into shares of common stock of the Company (“Common Stock”) at the rate (“Conversion Rate”) of one share of Common Stock for each $23.37 of principal,
subject to adjustment pursuant to the provisions hereof. In order to exercise the right of conversion, the Holder shall surrender this Note to the Company at its principal offices, accompanied by a completed Conversion Notice (in the form of
Exhibit A hereto) notifying the Company that the Holder elects to convert all or a portion of this Note into shares of Common Stock (such shares issued upon conversion being referred to herein as the “Conversion Shares”). The
conversion shall be deemed to have been effected as to this Note (or portion thereof) on the date on which the requirements set forth in this Section 3(a) have been satisfied (such date, the “Conversion Date”), and the
person in whose name any Conversion Shares shall be issuable upon such conversion shall be deemed to have become on the Conversion Date the holder of record of the shares represented thereby; provided, however, that any such surrender on any date
when the stock transfer books of the Company shall be closed shall constitute the person in whose name the certificates are to be issued as the record holder thereof for all purposes on the next succeeding day on which such stock transfer books are
open, but such conversion shall be at the Conversion Rate in effect on the date upon which this Note shall be surrendered. 
 (b) Payment
of Interest upon Conversion. The Company shall pay in cash, upon the surrender of this Note or portion thereof for conversion during the period from the close of business on any interest payment date to which interest has been fully paid through
the close of business on the business day preceding the next such interest payment date, accrued and unpaid interest, if any, on this Note or portion thereof surrendered for conversion to, but excluding, the Conversion Date. Any such payment of
interest shall be made with respect to this Note within five business days after the Conversion Date. Except as provided in this Section 3(b), no adjustment shall be made for interest accrued on any of the Notes converted or for
dividends on any shares issued upon the conversion of the Notes as provided in this Section 3. 
 (c) Cash Payments in Lieu of
Fractional Shares. No fractional shares of Common Stock or scrip representing fractional shares shall be issued upon conversion of Notes. If any fractional share of stock otherwise would be issuable upon the conversion of this Note, the Company
shall calculate and pay a cash adjustment in lieu of such fractional share at the current market value thereof to the holder of Notes. The current market value of a share of Common Stock shall be the “Closing Price” on the first trading
day immediately preceding the day on which this Note is deemed to have been converted. As used herein, “Closing Price” shall mean the closing price of the Common Stock on the principal national securities exchange on which the
Common Stock is then quoted or listed or admitted to trading, or (if not so available) in such manner as furnished by any New York Stock Exchange member firm selected from time to time by the Board of Directors for that purpose, or (if no such firm
is able to be selected) a price determined in good faith by the Board of Directors, whose determination shall be conclusive and described in a board resolution. 

  
 2 

 (d) Adjustment of Conversion Rate. The Conversion Rate and the number of Conversion Shares
shall be subject to adjustment from time to time as follows: 
 (i) Consolidation, Merger, Sale, Conveyance. If the Company at any
time shall consolidate or merge with, or sell or convey all or substantially all of its assets to, any other corporation (each of which shall constitute a “Major Event”), the Holder shall thereafter be entitled to purchase at the
Conversion Rate then in effect such number and kind of securities as would have been issuable or distributable on account of such Major Event upon or with respect to this Note immediately prior to such Major Event. The Company shall take such steps
in connection with such Major Event as may be necessary to assure that the provisions hereof shall thereafter be applicable, as nearly as reasonably may be, in relation to any securities or property thereafter deliverable upon the conversion of this
Note. The foregoing provisions shall similarly apply to successive transactions of a similar nature by any such successor or purchaser. Without limiting the generality of the foregoing, the provisions of this Section 3 shall apply to
such securities of such successor or purchaser after a Major Event. 
 (ii) Stock Dividend, Reclassification, etc. If the Company
shall (A) pay a dividend in or make a distribution of shares of its capital stock, (B) subdivide its outstanding Common Stock, (C) combine its outstanding Common Stock into a smaller number of shares of Common Stock, or (D) issue
any securities in a reclassification of its Common Stock (including any such reclassification in connection with a consolidation or merger in which the Company is the continuing corporation), the number of Conversion Shares shall be adjusted so that
the Holder shall be entitled to receive the kind and number of shares or other securities of the Company which the Holder would have owned or would have been entitled to receive after the happening of any of the events described above, had the Note
been converted and the Conversion Shares been issued pursuant to this Section 3 immediately prior to the happening of such event or any record date with respect thereto. 

4. Transfers of Notes by Holders. 

(a) Transfers Generally. This Note may not be transferred to any person other than a “Permitted Transferee” of the Holder
without the prior written consent of the Company, which shall not be unreasonably withheld. As used herein, a “Permitted Transferee” shall mean (i) another holder of the Notes; (ii) in the case of any Holder who is an individual,
the spouse and lineal descendants of such Holder, a trust for the benefit of any of the foregoing or any entity controlled by the Holder, his spouse and his lineal descendants; or (iii) in the case of any Holder which is an entity, any entity
controlled by or controlling such entity. 
 (b) Note Register; Process of Transfer. The Company shall cause to be kept at its
principal executive office a register (the “Note Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of the holders of Notes and of transfers of Notes. If
the Holder of this Note desires to transfer this Note, the Holder shall complete the Certificate of Transfer (in the form of Exhibit B hereto) and the proposed transferee shall complete the Letter of Representations (in the form of Exhibit
C hereto), each of which shall be presented to the Company with the original of this Note. Upon receipt and, if necessary, approval by the Company of such requested transfer, the Company shall execute, in the

  
 3 

 
name of the designated transferee or transferees, one or more new Notes of any authorized denominations and of a like aggregate principal amount and bearing such restrictive legends as may be
required by applicable law. No service charge shall be charged to the Holder for any exchange or registration of transfer of Notes, but the Company may require payment of a sum sufficient to cover any tax, assessments or other governmental charges
that may be imposed in connection therewith. Notwithstanding the foregoing, the Company shall not be required to exchange or register a transfer of (i) any Notes which have been called for redemption or (ii) any Notes surrendered for
conversion. 
 (c) Newly Issued Notes. Any Note issued upon any transfer or exchange of, or in replacement for, this Note shall be the
valid obligation of the Company, evidencing the same debt, and entitled to the same benefits as the Note surrendered upon such registration of transfer or exchange and shall be expressly subject to the terms and conditions of the Subordination
Agreement. 
 (d) Reliance on Named Holder. Prior to due presentment for the registration of a transfer of any Note, the Company may
deem and treat the person in whose name this Note is registered as the absolute owner of this Note for the purpose of receiving payments of principal and interest and for all other purposes. 

(e) Mutilated, Destroyed, Lost or Stolen Notes. In case any Note shall become mutilated or be destroyed, lost or stolen, the Company in
its discretion may execute a new Note in exchange and substitution for the mutilated Note, or in lieu of and in substitution for the Note so destroyed, lost or stolen. The Company may require indemnity to save it harmless from any loss, liability,
cost or expense caused by or connected with such substitution, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company, evidence to its reasonable satisfaction of the destruction, loss or theft of such Note
and of the ownership thereof. 
 5. Subordination. By acceptance of this Note, the Holder unconditionally and irrevocably acknowledges
and agrees that the Company’s obligations and the Holder’s rights hereunder shall be and hereby are at all times and in all respects, and for all purposes, subject to the terms and conditions of the Subordination Agreement. 

6. Events of Default. Should any of the following events (each of which is herein called an “Event of Default”) occur,
the Company shall be in default hereunder: 
 (a) the Company defaults in the payment of the principal of, or interest on, this Note, and
such failure continues for a period of three business days after written notice of such default; or 
 (b) the Company defaults with respect
to any Senior Indebtedness (as defined herein), which default results in the acceleration of Senior Indebtedness in excess of $2,500,000, and such Senior Indebtedness shall not have been discharged or such acceleration shall not have been rescinded
or annulled for a period of 30 days after there shall have been given to the Company a written notice specifying such default and requiring the Company to cause such Senior Indebtedness to be discharged or cause such default to be cured or waived or
such acceleration to be rescinded or annulled; or 

  
 4 

 (c) the Company or any material subsidiary makes an assignment for the benefit of creditors or
admits in writing its inability to pay its debts generally as they become due; or an order, judgment or decree is entered into adjudicating the Company or any material subsidiary bankrupt or insolvent; or any order for relief with respect to the
Company or any material subsidiary is entered under the Federal Bankruptcy Code; or the Company or any material subsidiary petitions or applies to any tribunal for the appointment of a custodian, trustee, receiver or liquidator of the Company or any
material subsidiary or any substantial part of the assets of the Company or any material subsidiary, or commences any proceeding (other than a proceeding for the voluntary liquidation and dissolution of a subsidiary) relating to the Company or any
material subsidiary under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law of any jurisdiction; or any such petition or application is filed, or any such proceeding is commenced, against
the Company or any material subsidiary and either (i) the Company or any such material subsidiary by any act indicates its approval thereof, consent thereto or acquiescence therein or (ii) such petition, application or proceeding is not
dismissed within 60 days. 
 (d) As used herein, “Senior Indebtedness” means the principal of, and premium, if any, and
interest on, reimbursement obligations, indemnification obligations, fees, costs and expenses in connection with and other amounts accrued or due on or in connection with (i) all indebtedness of the Company for monies borrowed, including,
without limitation, commercial paper and accounts receivable sold or assigned by the Company, (ii) all obligations of the Company evidenced by any notes, debentures, bonds or other instruments issued to banks, trust companies, insurance
companies, other financial institutions and other entities that in the ordinary course of business make loans, (iii) all obligations of the Company under any interest or currency swap agreements, hedging agreements, cap, floor and collar
agreements, spot and forward contracts and other similar agreements, (iv) obligations in respect of letters of credit, bank guarantees and bankers acceptances, (v) obligations secured by a mortgage, pledge, security interest, lien or
encumbrance affecting title to any of the Company’s assets, (vi) principal of, and interest on any indebtedness or obligations of others of the kinds described in (i) through (vi) above directly or indirectly assumed or
guaranteed in any manner by the Company, and (vii) deferrals, renewals, increases, extensions, refinancings and refundings of, or amendments, modifications, restatements or supplements to, any such indebtedness or obligations described in
(i) through (vi) above, in each case unless the instrument creating or evidencing the same or pursuant to which the same is outstanding expressly provides that the same is not senior in right of payment to the Notes. Notwithstanding the
foregoing, “Senior Indebtedness” with respect to any Note shall not include (A) indebtedness of the Company evidenced by the other Notes, which shall rank equally and ratably with such Note, (B) any obligation of the Company to
any subsidiary of the Company, (C) any liability for federal, state, local or other taxes owed or owing by the Company, (D) any accounts payable or other liability to trade creditors arising in the ordinary course of business (including
guarantees thereof or instruments evidencing such liabilities), (E) any indebtedness or obligation of the Company (and any accrued and unpaid interest in respect thereof) that by its terms is subordinate or junior in right of payment to any
other indebtedness or obligation of the Company or (F) any obligation with respect to any shares, interest, rights to purchase, warrants, options, participations or other equivalents of, or interests in, the equity of the Company. 

  
 5 

 7. Remedies. 

(a) Subject to the terms of the Subordination Agreement, upon the occurrence of an Event of Default, the holders of at least 50.1% in interest
of the Notes (the “Requisite Holders”) may declare the principal of and premium, if any, on all the Notes and the interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become and
shall be immediately due and payable. Subject to the terms of the Subordination Agreement, the Requisite Holders shall further be entitled and empowered to institute any actions or proceedings at law or in equity for the collection of the sums so
due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company or any other obligor on the Notes and collect in the manner provided by law out of the
property of the Company or any other obligor on the Notes wherever situated the monies adjudged or decreed to be payable. 
 (b) All rights
of action and of asserting claims by the Requisite Holders may be enforced in their own name as trustee of an express trust for the benefit of all holders of the Notes, and any recovery of judgment shall, after provision for the payment of the
reasonable compensation, expenses, disbursements and advances of the Requisite Holders, their agents and counsel, be for the ratable benefit of the holders of the Notes. 

(c) Notwithstanding the foregoing, the Holder of this Note, without the consent of either the Requisite Holders or the holder of any other of
the Notes, in his own behalf and for his own benefit, may enforce, and may institute and maintain any proceeding suitable to enforce, such Holder’s rights of conversion as provided herein. 

8. Company Waivers. The Company and all other parties now or hereafter liable hereon, severally waive grace, demand, presentment for
payment, notice of dishonor, protest and notice of protest, notice of intention to accelerate, notice of acceleration, any other notice and diligence in collecting and bringing suit against any party hereto and agree (a) to all extensions and
partial payments, with or without notice, before or after maturity, (b) to any substitution, exchange or release of any security now or hereafter given for this Note and (c) to the release of any party primarily or secondarily liable
hereon. No delay on the part of the Holder in exercising any power or right under this Note shall operate as a waiver of such power or right, nor shall any single or partial exercise of any power or right preclude further exercise of that power or
right. 
 9. Collection Fees. If an Event of Default occurs hereunder and this Note is placed in the hands of an attorney for
collection (whether or not suit is filed), or if this Note is collected by suit or legal proceedings or through bankruptcy proceedings, the Company agrees to pay in addition to all sums then due hereon, including principal and interest, all expenses
of collection, including, without limitation, reasonable attorneys’ fees. 
 10. Successors and Assigns. All references to the
Company herein shall, and shall be deemed to, include its successors and assigns, and all covenants, stipulations, promises and agreements contained herein by or on behalf of the Company shall be binding upon its successors and permitted assigns,
whether so expressed or not. 

  
 6 

 11. Amendments and Waivers. 

(a) Amendments. The Company and the Requisite Holders may enter into amendments of the Notes; provided, however, that no such amendment
shall: (i)(A) extend the fixed maturity of any Note, (B) reduce the rate or extend the time of payment of interest thereon, (C) reduce the principal amount thereof or reduce any amount payable on redemption or repurchase thereof,
(D) impair or change in any respect adverse to the holder of Notes the terms of the Notes, (E) impair or adversely affect the right of any Noteholder to institute suit for the payment thereof, (F) change the currency in which the
Notes are payable, or (G) subject to the terms set forth herein, impair or change in any respect adverse to the holders of the Note the right to convert the Notes into Common Stock, without the consent of the holder of each Note so affected; or
(ii) reduce the percentage of Notes constituting “Requisite Holders” without the consent of the holders of all Notes then outstanding. 

(b) Waivers. The Requisite Holders may on behalf of the holders of all of the Notes waive any past default or Event of Default and its
consequences except (i) a default in the payment of the principal of the Notes when due, or (ii) a failure by the Company to convert any Note into Common Stock. Any such consent or waiver shall be conclusive and binding upon such holder
and upon all future holders and owners of this Note and any Notes which may be issued in exchange or substitution hereof, irrespective of whether any notation thereof is made upon this Note or such other Notes. 

12. Severability Clause. In case any provision in this Note shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 13. Notice. All notices to the
Company required or permitted by this Note shall be sufficient if given in writing and executed by the Holder. All such notices to the Company shall be delivered by registered or certified mail, return receipt requested, or personally delivered, to
the Company at its principal place of business on the date of the execution of this Note, or such other address as the Company may designate by written notice to the Holder of this Note. 

14. Governing Law and Venue. This Note shall be deemed to be a contract made under the laws of the State of Texas, and for all purposes
shall be governed by and construed in accordance with the laws of the State of Texas, exclusive of any such law under with the law of any other jurisdiction would apply. If any action is brought to enforce or interpret this Note, venue for such
action shall be in Dallas County, Texas. 
 (Signature Page Follows.) 

  
 7 

 IN WITNESS WHEREOF, the Company has caused this Note to be duly executed and delivered as of
September 1, 2013. 
  

			
	USMD Holdings, Inc.
		
	By:	 	 
		 	John M. House, M.D.
		 	Chief Executive Officer

 Signature Page – 5% Convertible Subordinated Note due 2019 

 Exhibit A 

Form of Conversion Notice 

(See attached.) 

 CONVERSION NOTICE 

USMD Holdings, Inc. 
 6333 North State Highway 161, Suite 200

 Irving, Texas 75038 
 Attention: Chief Financial Officer 

Gentlemen: 
 The undersigned registered holder of
this Note hereby irrevocably exercises the option to convert this Note, or the portion hereof (which is $1,000 principal amount or an integral multiple thereof) designated below, into shares of common stock of USMD Holdings, Inc. in accordance with
the terms of this Note. The undersigned further directs that the shares issuable and deliverable upon such conversion, together with a check in payment for any fractional shares and a Note representing any unconverted principal amount of the Note,
if any, be issued and delivered to the registered holder of the Note unless a different name has been indicated below. If shares or any portion of this Note not converted are to be issued in the name of a person other than the undersigned, the
undersigned will pay all transfer taxes payable with respect thereto. 
 Dated:
                                         
            
 Principal amount to be converted: $
                                         
            
 ($1,000 principal amount or an integral multiple thereof): 

 

					
		 		  	 If an individual:

			
		 		  	
Signature:                           
                                         
                                   

			
		 		  	 Printed
Name:                                        
                                         
              

			
		 		  	 If an entity:

			
		 		  	 Name of
entity:                                        
                                         
            

			
		 		  	
Signature:                           
                                         
                                   

			
		 		  	 Printed
Name:                                        
                                         
              

			
		 		  	
Title:                           
                                         
                                         
   

 If shares are to be issued, and Notes if to be delivered, other than to and in the name of the registered holder: 

 

					
	Name:                                     
                                         
                                         
                      	  		  	
			
	Address:                                     
                                         
                                         
                  	  		  	
			
	                                      
                                         
                                         
                               	  		  	
		
	Taxpayer Identification Number):                             
                                         
                                         
                                         
  	  	

 Exhibit B 

Form of Certificate of Transfer 

(See attached.) 

 CERTIFICATE OF TRANSFER 

USMD Holdings, Inc. 
 6333 North State Highway 161, Suite 200

 Irving, Texas 75038 
 Attention: Chief Financial Officer 

Gentlemen: 
 Re: 5% Convertible Subordinated
Note due 2019 
 Reference is hereby made to the 5% Convertible Subordinated Note due 2019 (the “Note”) issued by USMD
Holdings, Inc. (the “Company”). Capitalized terms used but not defined herein shall have the meanings given to them in the Note. 

                     (the
“Transferor”) owns and proposes to transfer the Note, in the principal amount of $            , to
                     (the “Transferee”). Transferor hereby certifies that it has complied with the terms and conditions of the
Subordination Agreement and that (please check the appropriate spaces): 
  

	 	            	Approval of the transfer by the Company is not required because the Transferee is a “Permitted Transferee” by virtue of being: 

 

	 	            	An existing holder of a 5% Convertible Subordinated Note due 2019; or 

  

	 	            	In the case of a Transferor who is an individual, the spouse or lineal descendent of the Transferor, a trust for the benefit of any of the foregoing, or any entity controlled by the Transferor, his spouse and his lineal
descendants; or 

  

	 	            	In the case of a Transferor which is an entity, any entity controlled by or controlling such entity. 

  

	 	            	Approval of the transfer by the Company is required. 

  

			
		  	 If an individual:

		
		  	
Signature:                           
                                         
                                   

		
		  	 Printed
Name:                                        
                                         
              

		
		  	 If an entity:

		
		  	 Name of
entity:                                        
                                         
            

		
		  	
Signature:                           
                                         
                                   

		
		  	 Printed
Name:                                        
                                         
              

		
		  	
Title:                           
                                         
                                         
   

 Exhibit C 

Form of Letter of Representations 

(See attached.) 

 Letter of Representations 

USMD Holdings, Inc. 
 6333 North State Highway 161, Suite 200

 Irving, Texas 75038 
 Attention: Chief Financial Officer 

Gentlemen: 
 Re: 5% Convertible Subordinated
Notes due 2019 
 Reference is hereby made to the 5% Convertible Subordinated Note due 2019 (the “Note”) issued by USMD
Holdings, Inc. (the “Company”). Capitalized terms used but not defined herein shall have the meanings given to them in the Note.
                     owns and proposes to transfer the Note, in the principal amount of
$                    , to us. We are delivering this letter in connection with such transfer and we hereby confirm that: 

 

	 	(i)	We are an “accredited investor” within the meaning of Rule 501(a) under the Securities Act of 1933, as amended (the “Securities Act”); 

 

	 	(ii)	Any purchase or receipt of the Note by us will be for investment purposes and for our own account, not as a nominee or agent; 

  

	 	(iii)	We have such knowledge and experience in financial and business matters that we are capable of evaluating the merits and risks of purchasing or receiving the Note; 

 

	 	(iv)	We do not have need for liquidity in our investment in the Note, we have the ability to bear the economic risks of our investment in the Note for an indefinite period of time and we are able to afford the complete loss
of our investment in the Note; 

  

	 	(v)	We are not acquiring the Note with a view to any distribution thereof in a transaction that would violate the Securities Act or the securities laws of any state of the United States or any other applicable jurisdiction,
and we have no present intention of selling, granting any participation in, or otherwise distributing the same; 

  

	 	(vi)	We have had access to such information regarding the Company necessary in order for us to make an informed decision and any such information which we have requested have been made available for us or our attorney,
accountant, or advisor; and 

  

	 	(vii)	We or our attorney, accountant, or advisor have had a reasonable opportunity to ask questions of and receive answers from a person or persons acting on behalf of the Company concerning the business, management and
financial affairs of the Company and the terms and conditions of the acquisition by us of the Note and all such questions have been answered to our full satisfaction, and we have acquired sufficient information about the Company to make an informed
and knowledgeable decision to acquire the Note. 

 We understand that the Note has not been registered under the Securities Act, and we agree, on
our own behalf and on behalf of each account for which we acquire any Note, that such Note may be offered, resold, pledged or otherwise transferred only (a) in accordance with an exemption from the registration requirements of the Securities
Act, (b) to the Company or (c) pursuant to an effective registration statement, and, in each case, in accordance with any applicable securities laws of any state of the United States or any other applicable jurisdiction. 

We acknowledge that the Company and others will rely upon our confirmations, acknowledgements and agreements set forth herein, and we agree to
notify you promptly in writing if any of our representations or warranties herein ceases to be accurate and complete. 
  

					
	
	If an individual:
		
	Signature:  	 	 

  

			
		
	Printed Name:  	 	 
		
	Address:	 	 
		
		 	 

  

			
	Social Security No.:  	 	 

  

			
	
	If an entity:
		
	Name of entity:	 	 

  

			
	Signature:	 	 
		
	Printed Name:	 	 
		
	Title:	 	 
		
	Address:	 	 
		
		 	 
		
	Taxpayer ID No.:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}]]