Document:

AMENDMENT TO CREDIT MODIFICATION AGREEMENT

 

IT IS, ON THIS 28th DAY
OF OCTOBER, 2011, HEREBY AGREED by and among STATE BANK OF INDIA, NEW YORK BRANCH (“SBI”), 460 Park Avenue,
New York, NY 10022, as Facility Arranger, Administrative Agent, and Senior Lender, JUBILANT CADISTA PHARMACEUTICALS INC.(“Borrower”),
a Delaware corporation formerly known as Cadista Pharmaceuticals Inc., 207 Kiley Drive, Salisbury, MD 21801, CADISTA HOLDINGS INC
(“Cadista”), a Delaware corporation located at 207 Kiley Drive, Salisbury, MD 21801, as guarantor, JUBILANT PHARMA
PTE LTD. (“JPPL”), 42 B Horne Road, Singapore, 209066, as Current Pledgor of the shares of stock of Cadista, GENERIC
PHARMACEUTICALS HOLDINGS INC, a Delaware corporation with a mailing address 1 Crossroads Drive, Building A, 2nd floor,
Bedminster, NJ 07921, New Pledgor of the shares of stock of Cadista, that

 

WHEREAS Borrower,
SBI, Bank of Baroda (“BOB”), a Participating Lender, Cadista, and JPPL entered into certain written documentation on
or about September 22, 2006 evidencing the grant of various credit facilities to Borrower by SBI and BOB, and

 

WHEREAS said documentation
was amended to the extent set forth in a written Amendment of September 25,2007, and

 

WHEREAS the said
parties agreed to a continuation and enhancement of certain credit facilities pursuant to written documentation, including, among
others, a Credit Modification Agreement dated February 24, 2010, and

 

WHEREAS JPPL pledged
its shares of stock in Cadista to SBI and BOB pursuant to the terms and conditions of a Pledge Agreement, Pledge Modification Agreement,
and Second Pledge Modification Agreement, as referenced, inter alia,  in Clause 8 (D) of the said Credit Modification Agreement,
and

 

    	 

    	 

    

 

WHEREAS various
share certificates representing a total of 49,824,988 shares of stock in Cadista were pledged by JPPL to SBI and BOB on a pari
passu basis, and share certificates constituting an additional 12,735,827 shares of stock in Cadista, were pledged to SBI by
JPPL, for a total of 62,560,815 pledged shares, and

 

WHEREAS Borrower
has requested that SBI and BOB each consent to the transfer by JPPL of all said shares pledged to SBI and BOB, to Jubilant Life
Sciences Holdings, Inc., a Delaware corporation, and immediately following such transfer, to the further transfer of all said shares
by Jubilant Life Sciences Holdings Inc. to Generic Pharmaceuticals Holdings Inc., and

 

WHEREAS SBI and
BOB consent to the said transfers, conditioned on all the shares being re-pledged to SBI by Generic Pharmaceuticals Holdings, Inc.,
and having the same first, general, secured status and lien, as existing, and

 

WHEREAS the Borrower,
Cadista, JPPL, Generic Pharmaceuticals Holdings, Inc., and each of them, unconditionally agree to the re-pledging of all the said
shares pursuant to written documentation described herein below, and

 

WHEREAS Borrower
has presented a certified copy of its filing with the Delaware Department of State, a Certificate of Amendment, changing its name
from Cadista Pharmaceuticals Inc., to JUBILANT CADISTA PHARMACEUTICALS INC. and,

 

WHEREAS all credit
facilities extended to Borrower by Bank of Baroda have been repaid in full to Bank of Baroda. Therefore, Bank of Baroda is not
a party to this Amendment, and any and all right and interest of Bank of Baroda in the pledged shares passes to SBI in their entirety.

  

    	 

    	 

    

  

NOW THEREFORE, for
valuable consideration, the receipt and sufficiency of which is expressly acknowledged, the parties hereby agree as follows:

 

1.          Borrower’s
new name, Jubilant Cadista Pharmaceuticals Inc. will be substituted in the place and stead of Cadista Pharmaceuticals Inc., wherever
that name appears in each and every document executed by Cadista Pharmaceuticals Inc, formerly known as Jubilant Pharmaceuticals
Inc., in connection with the subject credit facilities, and each and every continuation and/or enhancement thereof.

 

2.          Borrower
shall assist SBI, if necessary, in filing the appropriate documents, changing the name of Borrower with respect to the various
security pledged to SBI in connection with the said credit facilities, including, inter alia, filing appropriate UCC-3 Amendments
for change of name.

 

3.          Borrower
shall provide equivalent replacement shares of stock, pledged by Cadista, to be issued under Borrower’s new name.

 

4.          The
parties will execute, acknowledge and deliver a Third Pledge Modification Agreement in a form satisfactory to SBI, setting forth
the terms and conditions of the re-pledging of all the said shares in accordance with the requirements of the said Third Pledge
Modification Agreement.

 

5.          Clause
8 (D) of the said Credit Modification Agreement will be modified by this Amendment, only to the extent that JPPL will no longer
be a pledgor of Cadista’s shares of stock, that the new pledgor in place of JPPL, shall be Generic Pharmaceuticals Holdings,
Inc,. and that the Third Pledge Modification Agreement shall be fully binding and incorporated therein.

 

    	 

    	 

    

 

6.          Borrower,
Cadista, JPPL Generic Pharmaceuticals Holdings, Inc., and each of them, shall provide their respective corporate secretary’s
certificates, in a form acceptable to SBI, as proof of their own authority and capacity to enter into this transaction, and to
execute, acknowledge, and deliver the documents in connection therewith.

 

7.          All
other terms and conditions in the said Credit Modification Agreement and each and every other credit document executed, acknowledged
and delivered in connection with the grant, continuation, enhancement, etc. of the said credit facilities to the Borrower shall
REMAIN IN FULL FORCE AND EFFECT, except that Bank of Baroda is no longer a Participant Lender therein.

 

IN WITNESS WHEREOF,
the parties hereto have executed this Amendment to the Credit Modification Agreement as of the date first indicated.

  

	STATE BANK OF INDIA, NEW YORK BRANCH
	Facility Arranger/Administrative Agent/Senior Lender
	 	 
	By;	/s/ Gopal Chakrapani
	Name:	Gopal Chakrapani
	Title:	Vice President & Head (Credit)
	 	 
	JUBILANT CADISTA PHARMACEUTICALS INC.
	Borrower
	 	 
	By:	/s/ Kamal Mandan
	Name:	Kamal Mandan
	Title:	Chief Financial Officer

 

    	 

    	 

    

 

	CADISTA HOLDINGS INC.
	Guarantor
	 	 
	By; 	/s/ Kamal Mandan
	Name:	Kamal Mandan
	Title:	Chief Financial Officer

  

	JUBILANT PHARMA PTE LTD.
	Current Pledgor
	 
	By;	/s/ Liana, Cheng Lian Siang
	Name: Liana, Cheng Lian Siang
	Title: Secretary

 

	GENERIC PHARMACEUTICALS HOLDINGS, INC.
	New Pledgor
	 
	By;	/s/ Kamal Mandan
	Name: KAMAL MANDAN
	Title: Director

  

STATE OF NEW YORK         ) 

COUNTY OF NEW
YORK               )   ss

  

On the 28th day of
October, 2011, before me personally came GOPAL CHAKRAPANI, personally known to me or proved to me on the basis of
satisfactory evidence, to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he
executed the same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of
which the individual acted, executed the instrument.

 

	 	 	 
	 	/s/	 
	 	Notary Public	 

  

STATE OF NEW
YORK ) 

COUNTY OF NEW YORK)                       ss

  

    	 

    	 

    

 

On the 28th day of October,
2011, before me personally came KAMAL MANDAN, personally known to me or proved to me on the basis of satisfactory evidence, to
be the individual whose name is subscribed to the within instrument, and acknowledged to me that he executed the same in his capacity,
and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed
the instrument.

  

	 	 	 
	 	/s/	 
	 	Notary Public	 

  

STATE OF NEW
YORK) 

COUNTY OF NEW YORK)                       ss

  

On the 28th day of October,
2011, before me personally appeared KAMAL MANDAN personally known to me or proved to me on the basis of satisfactory evidence,
to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he executed the same in his
capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted,
executed the instrument.

  

	 	 	 
	 	/s/	 
	 	Notary Public	 

  

STATE OF NEW
YORK                                                   ) 

COUNTY OF NEW YORK                                                                  )
              ss

 

On the 28th day of
October, 2011, before me personally appeared KAMAL MANDAN personally known to me or proved to me on the basis of satisfactory
evidence, to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he executed the
same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the
individual acted, executed the instrument.

  

	 	 	 
	 	/s/	 
	 	Notary Public	 

  

CITY OF SINGAPORE                                                                                                     ) 

REPUBLIC OF SINGAPORE                                                                                           )
             ss

 

    	 

    	 

    

  

On the 31st day of
October, 2011 Liana, Cheng Lian Siang before me personally came personally known to me, or proved to me on the basis of
satisfactory evidence to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he
executed the same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of
which the individual acted, executed the instrument.

  

	 	 	 
	 	/s/	 
	 	Notary PublicTHIRD PLEDGE MODIFICATION AGREEMENT OF

JUBILANT PHARMA PTE. LTD. et al

 

This Third Pledge Modification
Agreement made this 28th day of October, 2011 among JUBILANT PHARMA PTE. LTD. ("Current Pledgor"), a Singapore corporation,
with its registered address at 3 Phillip Street, 18-00 Commerce Point, Singapore, 948693, STATE BANK OF INDIA, NEW YORK BRANCH,
a banking corporation duly licensed by the Superintendent of Banks of the State of New York and having its place of business at
460 Park Avenue, New York, N.Y. 10022, Facility Arranger, Administrative Agent, and Senior Lender (“SBI”) JUBILANT
CADISTA PHARMACEUTICALS INC., a Delaware corporation with its principal place of business at 207 Kiley Drive, Salisbury MD,21801
formerly known as Cadista Pharmaceuticals Inc. and Jubilant Pharmaceuticals Inc., (“Borrower”), CADISTA HOLDINGS INC.
(“Cadista”) formerly known as Trigen Laboratories Inc, a Delaware corporation, having its principal place of business
at 207 Kiley Drive, Salisbury, MD. 21801, and a pledgor of Borrower’s shares, and a corporate guarantor of the facilities
being granted to Borrower, and GENERIC PHARMACEUTICALS HOLDINGS INC. (“New Pledgor”), a corporation duly organized
and existing under the laws of the State of Delaware, with a mailing address at 1 Crossroads Drive, Building A, 2nd
floor, Bedminster, NJ 07921.

 

WHEREAS SBI and
Bank of Baroda (“BOB”), with offices at 1 Park Avenue, New York, a Participating Lender, have each granted certain
credit facilities to Borrower pursuant to a written Credit Agreement, Notes, and other documentation dated September 22, 2006,
and

 

WHEREAS the names
of certain parties to the original documentation were changed, among other changes, by Amendment to Credit documentation, executed
on or about September 25, 2007, and

 

WHEREAS Current
Pledgor had duly executed, acknowledged and delivered to SBI and to BOB, a Pledge Agreement of September 22, 2006 with respect
to certain shares of stock, and, thereafter, duly executed, acknowledged and delivered to SBI and to BOB, a Pledge Modification
Agreement, dated September 25, 2007,wherein Current Pledgor unconditionally pledged certain shares of stock in Cadista to SBI and
to BOB on a pari passu basis, and

 

WHEREAS at the specific
instance and request of Borrower, SBI agreed to enhance the revolving credit facilities to $6,500,000.00 pursuant to the terms
and conditions of a Credit Modification Agreement dated February 24, 2010, and

 

WHEREAS Current
Pledgor pledged additional shares to SBI, pursuant to a Second Pledge Modification Agreement dated February 24, 2010, and

 

WHEREAS Current
Pledgor has transferred ownership of all of said pledged shares to Jubilant Life Sciences Holdings, Inc., a Delaware corporation
(“Jubilant Holdings”), which immediately transferred ownership of such shares to New Pledgor, and

 

    	 

    	 

    

 

WHEREAS New Pledgor
agrees to continue the said pledge of all shares of stock to SBI, and to SBI for the additional shares pledged under the said Second
Pledge Modification Agreement, and pursuant to the terms and conditions set forth herein, and

 

WHEREAS New Pledgor
expressly and specifically WARRANTS and REPRESENTS to SBI, that it is in New Pledgor’s best interest to enter
into and perform this Third Pledge Modification Agreement, as it has and/or will receive and derive a substantial economic benefit,
directly and/or indirectly, from the said credit facilities extended to Borrower, as well as other benefits and consideration,
the sufficiency and value of which is expressly acknowledged by New Pledgor, and

 

WHEREAS SBI agrees
to the said transfer of shares by Current Pledgor to Jubilant Holdings, and from Jubilant Holdings to New Pledgor, pursuant to
the terms and conditions set forth herein, and

 

WHEREAS all credit
facilities extended by BOB to Borrower have been repaid in full to BOB, and therefore, BOB is not a party to this agreement.

 

NOW THEREFORE, for
valuable consideration, the terms and conditions of this Third Pledge Modification Agreement are as follows:

 

1.          TRANSFER
OF SHARES:

 

A total of 62,560,815 shares
of common stock of Cadista were held by Current Pledgor, and were represented by the following respective Share Certificates numbers
(collectively, the “Formerly Pledged Certificates”):

 

C 1160 for 36,532,069 shares;

C 2000 for 4,461,885 shares;

C 2005 for 8,831,034 shares;

C 2026 for 6,562,788 shares;
and

C 2027 for 6,173,039 shares.

 

All said 62,560,815 shares
of common stock have been transferred to Jubilant Holdings, which immediately transferred such shares, in their entirety to New
Pledgor.

 

SBI hereby reconfirms its
consent to the transfer of said 62,560,815 shares from the Current Pledgor to Jubilant Holdings, and the subsequent transfer of
such shares to New Pledgor, pursuant to these terms and conditions.

 

    	 

    	 

    

 

2.          COLLATERAL
AND GRANT OF SECURITY INTEREST:

 

New Pledgor (i) hereby
grants to SBI a first, priority security interest in and LIEN upon 49,824,988 shares of stock in Cadista, that are now owned by
New Pledgor, AND ALL PROCEEDS THEREOF, which shall CONTINUE AND REMAIN IN FULL FORCE AND EFFECT, and (ii) hereby further
pledges 12,735,827 additional shares, and ALL PROCEEDS THEREOF, which shall CONTINUE AND REMAIN IN FULL FORCE AND EFFECT, as partial
security for the repayment of the said enhanced facility to Borrower in each case.

 

TOGETHER with all bonus
and/or additional shares, options, instruments, and other rights which may be issued from time to time by Cadista to New Pledgor,
with respect to said shares.

 

Said 62,560.815 shares
being pledged by New Pledgor, are represented by Stock Certificate No. C 0236 (the “New Stock Certificate’).
All said shares are collectively referred to herein as the COLLATERAL.

 

It is understood that
BOB, having been repaid in full for its credit facilities extended to Borrower, has no further right and interest in any of the
said 49,824,988 shares pledged to SBI and BOB, and full right and interest passes to SBI entirely.

 

3.          DESCRIPTION
OF OBLIGATIONS SECURED:

 

The security interest granted
by this instrument represents New Pledgor’s CONSENT and agreement that the said existing shares which it owns and
pledges herein, shall continue to be applied by SBI to repayment of $6,500,000 in the Revolving Credit Working Capital Demand Loan
credit facility, with applicable interest, and the balance remaining on the Term Loan, original limit being $5,000,000, as granted
to Borrower, all with interest thereon at the rates set forth in the credit documentation referred to above, and as further set
forth in respective Notes, signed, acknowledged, and delivered by Borrower to SBI.

 

New Pledgor agrees that
it is a condition precedent to the continuation of the said credit facilities, that the New Pledgor shall have created this Pledge
and granted a first, priority security interest in the Collateral in order to partially secure the prompt payment, observance,
and performance of all of the Borrower’s obligations to SBI under the Credit Modification Agreement, Notes, etc.

 

4.          DELIVERY
OF THE COLLATERAL:.

 

The original New Stock
Certificate, representing the full Collateral, which is registered in New Pledgor’s name will be delivered to SBI to hold
as security accordingly. It is an express condition precedent to the continuation of credit facilities to Borrower, that SBI
shall have all original share certificates constituting the entire Collateral, in its sole possession, custody and control. Delivery
of the Collateral shall constitute perfection of SBI’s security interest therein. Upon delivery of the New Stock Certificate
to SBI, SBI agrees to promptly return all of the Formerly Pledged Certificates to Cadista, and Cadista agrees that it shall cancel
on its books and records, all the Formerly Pledged Certificates, upon receipt from SBI.

 

    	 

    	 

    

 

CADISTA REPRESENTS
AND WARRANTS THAT ALL STOCK CERTIFICATES REPRESENTING THE PLEDGED SHARES THAT WERE ISSUED TO JUBILANT HOLDINGS HAVE BEEN CANCELLED,
AND THAT ITS BOOKS AND RECORDS REFLECT THAT ALL RIGHT, TITLE AND INTEREST IN AND TO THE PLEDGED SHARES HAVE BEEN TRANSFERRED TO
THE NEW PLEDGOR.

 

5.          NEW
PLEDGOR’S REPRESENTATIONS:

 

New Pledgor is the sole
legal and beneficial owner of the Collateral, in its entirety, free and clear of any claim, right, or interest of any third party.
No one except New Pledgor has any ownership or security interest in the Collateral, except the security interests being created
herein in favor of SBI.

 

New Pledgor has full authority
to enter into this Third Pledge Modification Agreement and the creation of a first priority security interest in favor of SBI.
Such creation does not in any way or manner, violate any contractual, legal or other obligations of New Pledgor under any contract
or under any law, nor violate any shareholder or other agreement, nor violate any by-laws, certificates of incorporation, any amendments
thereto, or any other documents..

 

New Pledgor has the right
to vote, pledge, and/or grant this security interest in the Collateral, and transfer such Collateral to SBI, FREE AND CLEAR OF
ANY LIENS, ENCUMBRANCES, CLAIMS, OR OTHER INTERESTS WHATSOEVER.

 

The Collateral, and all
parts thereof, have been validly issued, fully paid, and nonassessable.

 

No authorization, approvals,
or other actions by, and no notice to or filing with any governmental or regulatory agency is required for this pledge, for execution,
acknowledgment and delivery of this Third Pledge Modification Agreement, or for exercise by SBI of any right or remedies herein.

 

The pledge as set forth
in this Third Pledge Modification Agreement creates a valid and PERFECTED first priority security interest in the said Collateral
in its entirety, and is recognized as such by New Pledgor and by Cadista, and Borrower and each of them as well.

 

Current Pledgor Jubilant
Holdings, and each of them, shall have no further right, interest, claim of any sort, legal, equitable, or otherwise, in the Collateral,
or any part thereof.

New Pledgor will not sell,
assign, transfer, issue any irrevocable proxy, or create or permit the creation of any lien, charge, pledge, security interest,
encumbrance, purchase right, nor any other type of claim, interest, etc in the Collateral, or any parts thereof. New Pledgor will
not vote the Collateral or otherwise act in any way whatsoever which will materially adversely affect the Collateral’s value.

 

The Collateral is not “margin
stock” as set forth in Regulations U and X of the Board of Governors of the Federal Reserve Bank.

 

    	 

    	 

    

 

New Pledgor will pay SBI
for any and all costs and expenses reasonably incurred by SBI with respect to the Collateral.

 

6.          NEW
PLEDGOR TO HELP MAINTAIN VALID SECURITY INTEREST HEREIN.

 

New Pledgor shall do such
acts as SBI may reasonably require from time to time to maintain a valid security interest in the Collateral by SBI, free of all
other liens and claims, to secure payment of Borrower’s indebtedness, including, subject to mutual agreement between the
New Pledgor and SBI, depositing and increasing the amount of this pledge, and executing any additional agreements to cover any
shortfall in the security, as may reasonably be required by SBI.

 

7.          EVENTS
OF DEFAULT.

 

The following are, without
exclusive effect, events of default under this Third Pledge Modification Agreement:

 

(a)          Failure
by Borrower to pay any amount payable to SBI on the date due, plus any applicable grace period, and/or default by Borrower in any
of the terms, conditions, covenants, obligations, etc. under the Credit Agreement and Credit Modification Agreement;

 

(b)          Any
other default under any terms of any of the subject Notes, or any other agreements or documents signed by the Borrower in connection
with the indebtedness described herein.

 

(c)          Any warranty
or representation set forth in this Third Pledge Modification Agreement which is materially false.

 

(d)          Levy,
attachment or seizure of the Collateral, or any part thereof.

 

(e)          The
voluntary filing by New Pledgor of any petition for reorganization, liquidation, or the like, under any insolvency or bankruptcy
law, or New Pledgor’s having made an assignment for benefit of creditors, or New Pledgor’s becoming the subject of
any involuntary bankruptcy or insolvency proceeding, which has not been dismissed or unstayed within ninety (90) days from date
of filing seeking to adjudicate it a bankrupt or insolvent, or seeking the liquidation, winding up, reorganization, arrangement,
adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization
or relief of debtors, or seeking an entry of an order for relief or the appointment of a receiver, trustee, or other similar official
for it, or for any substantial part of its property.

 

    	 

    	 

    

 

(f)          Any
event of default that remains uncured for more than fifteen (15) business days after notice, under any terms of the documents signed
by New Pledgor in connection with the indebtedness described herein.

 

8.          RIGHTS
ON DEFAULT.

 

SBI has all the rights
of a secured creditor under Article 9 of the Uniform Commercial Code of the State of New York. It may, without limitation, market,
sell, cause to be sold, etc, in its sole discretion, at any exchange, broker’s board, public auction, private sale, or in
other commercially reasonable manner, in any one or more sales, at such prices as the Agent may decide best, for cash, credit,
or otherwise, all or part of the said Collateral. Such sale(s) shall be free from any claim, encumbrance, or right of New Pledgor.
SBI may, in its own name, or the name of its designee, buy any part of the Collateral. New Pledgor shall be liable for all costs,
disbursements, reasonable attorneys’ fees, Court costs, broker’s commissions, referee’s or auctioneer’s
fees, advertisement expenses, and any other costs, expenses, etc., in connection therewith.

 

SBI shall have all rights
available at law or in equity. These rights and remedies shall be cumulative, and may be exercised singularly or together with
other rights and available remedies.

 

New Pledgor appoints SBI,
as its Attorney-in Fact, in the event of default, with full authority in the name of New Pledgor or its own name or otherwise,
to take any action and to execute any instrument which SBI may deem necessary to accomplish the purposes of this Agreement.

 

IT IS EXPRESSLY UNDERSTOOD
AND AGREED THAT, DURING THE CONTINUATION OF AN EVENT OF DEFAULT, (i)TITLE TO ALL OF THE SAID SHARES SHALL VEST IN THE NAME OF SBI
AS OWNER THEREOF, and (ii) THE COLLATERAL WILL BE TRANSFERRED TO SBI’S NAME AND SBI MAY EXERCISE ALL RIGHTS
OF OWNERSHIP IN THE COLLATERAL, INCLUDING, WITHOUT LIMITATION, THE RIGHT TO VOTE AND TO RECEIVE ALL DIVIDENDS AND OTHER DISTRIBUTIONS.

 

9.          NOTICE
OF DISPOSITION OF COLLATERAL:

 

If any notification of
an intended disposition of the Collateral or any parts thereof, is required by law, such notification shall be deemed reasonably
and properly given if mailed seven (7) days before this disposition, postage prepaid, addressed to the New Pledgor at its address
shown above, or at any other address that New Pledgor may duly advise SBI.

 

    	 

    	 

    

 

10.         TERM:

 

This Third Pledge Modification
Agreement shall remain in full force and effect until ALL the obligations of New Pledgor, Borrower, Guarantor, have been fully
performed and satisfied, and the said Credit Agreement, Credit Modification Agreement, Notes, etc., and any and all further agreements
that may be executed with respect to credit facilities being granted to Borrower, have terminated pursuant to their terms and conditions.
Upon termination of this Third Pledge Modification Agreement as provided above, other than as a result of SBI’s application
of the Collateral, SBI will release the security interest created hereunder, and will deliver the Collateral to New Pledgor.

 

11.         CONTINUITY
OF APPLICATION:

 

This Third Pledge Modification
Agreement, and all terms and conditions therein, shall apply to, and cover any and all other shares, bonus shares, options, rights,
instruments, etc. that may be pledged or required to be pledged by New Pledgor to SBI, as part of the Collateral herein.

 

12.         GOVERNING
LAW.

 

This Third Pledge Modification
Agreement shall be governed by the laws of the State of New York, and enforceable in the Courts of the State of New York and/or
the United States District Court for the Southern District of New York. New Pledgor waives any defenses based on lack of personal
jurisdiction, improper service of process, improper venue, and/or forum nonconveniens, and ALL PARTIES, TO THE FULLEST
EXTENT PERMITTED BY LAW, UPON FULL KNOWLEDGE OF THE CONSEQUENCES, IRREVOCABLY WAIVE RIGHT TO TRIAL BY JURY OF ANY AND ALL ISSUES
ARISING THEREIN.

 

13.         ENTIRE
AGREEMENT

 

This Third Pledge Modification
Agreement represents the full and final understanding of the parties with respect to the subject matter herein, incorporating all
discussions and prior negotiations. There are no oral promises or representations. This Third Pledge Modification Agreement shall
be binding on the parties hereto, their respective heirs, successors and assigns. It can only be modified in any way by a writing
signed by all the parties hereto. No alleged oral statements, alleged course of conduct, custom, practice, etc., shall have any
effect herein.

 

14.         NO
LIABILITY OF SBI/ INDEMNIFICATION OF SBI:

 

SBI, as holder of the said
shares of stock, shall not be liable for any acts, omissions, errors of fact or law, with respect to the Collateral, or any parts
thereof, their handling, disposition, sale, etc. except for willful misconduct or gross negligence. SBI is not liable in any manner
for the genuineness, sufficiency, validity, accuracy of the Collateral or any part thereof, being deposited with it. New Pledgor
shall indemnify SBI and hold it harmless against any and all claims arising therefrom, and/or from any person or entity claiming
any interest, legal or equitable in the Collateral, or any part thereof, etc.

 

    	 

    	 

    

 

15.         ENFORCEMENT:

 

The invalidity or unenforceability
of any provision herein shall not be deemed to affect the validity or enforceability of any other provisions of this Agreement,
all of which provisions are hereby declared to be severable.

 

16.         FURTHER
ASSURANCES:

 

New Pledgor agrees to take
any further action and to execute and deliver any further written instruments which may be reasonably required to carry out the
terms, conditions, intent, and purposes of the Third Pledge Modification Agreement.

 

This Third Pledge Modification
Agreement may be signed in counterparts, each being considered one and the same original.

 

All other terms and conditions
of the said Pledge Agreement, Pledge Modification Agreement, and Second Pledge Modification Agreement are incorporated herein to
the extent not modified, and wherever applicable.

 

IN WITNESS WHEREOF,
the parties have executed this Third Pledge Modification Agreement as of the date first indicated.

 

	 	CURRENT PLEDGOR:
	 	JUBILANT PHARMA PTE. LTD
	 	 
	 	By:	/s/ Liana, Cheng Lian Siang
	 	Name: Liana, Cheng Lian Siang
	 	Title: Secretary
	 	 
	 	ADMINISTRATIVE AGENT/ FACILITY
	 	ARRANGER/SENIOR LENDER:
	 	STATE BANK OF INDIA, NEW YORK BRANCH
	 	 
	 	By:	/s/ Gopal Chakrapani
	 	Name: Gopal Chakrapani
	 	Title: Vice President & Head (Credit)

 

    	 

    	 

    

 

	 	BORROWER:
	 	JUBILANT CADISTA PHARMACEUTICALS INC.
	 	 
	 	By:	/s/ Kamal Mandan
	 	Name: Kamal Mandan
	 	Title:Chief Financial Officer
	 	 
	 	PLEDGOR/GUARANTOR:
	 	CADISTA HOLDINGS INC.
	 	 
	 	By:	/s/ Kamal Mandan
	 	Name: Kamal Mandan
	 	Title: Chief Financial Officer
	 	 
	 	NEW PLEDGOR:
	 	GENERIC PHARMACEUTICALS HOLDINGS INC
	 	 
	 	By:	/s/ Kamal Mandan
	 	Name: Kamal Mandan
	 	Title: Director

 

STATE OF NEW YORK               )

COUNTY OF NEW
YORK           )        ss

 

On the 28th day of October,
2011, before me personally appeared GOPAL CHAKRAPANI, personally known to me or proved to me on the basis of satisfactory evidence,
to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he executed the same in his
capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted,
executed the instrument.

 

	 	/s/	 
	 	Notary Public	 

 

STATE OF NEW YORK          )

COUNTY OF NEW
YORK      )        ss

 

On the 28th day of October,
2011, before me personally appeared KAMAL MANDAN, personally known to me or proved to me on the basis of satisfactory evidence,
to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he executed the same in his
capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted,
executed the instrument. ,

 

    	 

    	 

    

 

	 	/s/	 
	 	Notary Public	 

 

STATE OF NEW YORK          )

COUNTY OF NEW
YORK                )        ss

 

On the 28th day of
October, 2011, before me personally appeared KAMAL MANDAN personally known to me or proved to me on the basis of satisfactory
evidence, to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he executed the
same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the
individual acted, executed the instrument.

 

	 	/s/	 
	 	Notary Public	 

 

STATE OF NEW
YORK                  )

COUNTY OF NEW YORK                        )      
ss

 

On the 28th day of
October, 2011, before me personally came KAMAL MANDAN personally known to me, or proved to me on the basis of satisfactory
evidence, to be the individual whose name is subscribed to the within instrument, and acknowledged to me that he executed the
same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the
individual acted, executed the instrument.

 

 

	 	/s/
	 	Notary Public

 

CITY OF SINGAPORE                                                                           )

REPUBLIC OF SINGAPORE                                                                 )      
ss

 

    	 

    	 

    

 

On the 31st day
of October , 2011, before me personally appeared Liana, Cheng Lian Siang      , personally known to
me, or proved to me on the basis of satisfactory evidence, to be the individual whose name is subscribed to the
within instrument, and acknowledged to me that he executed the same in his capacity, and that by his signature on the
instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.

 

	 	/s/
	 	Notary Public

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