Document:

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                    AMENDED AND RESTATED CONSULTING AGREEMENT

     THIS CONSULTING AGREEMENT is entered into and made effective this 21st day
of December, 2001 between NORTH COUNTRY FINANCIAL CORPORATION (the "Company"),
with its principal executive offices at 1011 Noteware Drive, Traverse City,
Michigan, and RONALD G. FORD (the "Executive").

                                    RECITALS

     The Executive has over 24 years of experience with the Company, NORTH
COUNTRY BANK & TRUST (the "Bank"), and/or their affiliates and is currently
employed as Chairman of the Board and Chief Executive Officer of the Company and
the Bank. The Executive possesses intimate knowledge of the business and affairs
of the Company, the Bank, and their affiliates and their respective policies,
markets and financial and human resources. By virtue of his employment, the
Executive has acquired certain confidential information and data (as described
further herein) with respect to the Company, the Bank, and their affiliates.

     The Company and the Bank desire to assure the continued services of the
Executive on their own behalf and/or on behalf of their affiliates following
termination of his employment by the Company and the Bank for the period
provided in this Agreement, and the Executive is willing to continue to provide
certain services to the Company, the Bank, and/or their affiliates for such
period, upon the terms and conditions hereinafter set forth. In addition, the
Company and the Bank wish to prevent the Executive from competing with them for
the period provided in this Agreement and the Executive is willing to consent to
such a limitation.

     The Company and the Executive expressly acknowledge that, on or about
September 15, 1999 and on or about July 3, 2000, the Company and the Executive
entered into binding Consulting Agreements. It is further acknowledged by the
Company and the Executive that, subsequent to the date of execution of the July
3, 2000 Consulting Agreement, certain circumstances changed such that the
Company and the Executive desire to restate and amend, in the form of this
Amended and Restated Consulting Agreement, the terms and conditions of said July
3, 2000 Consulting Agreement. The Company and the Executive intend that,
subsequent to the execution of this Amended and Restated Consulting Agreement,
the July 3, 2000 Consulting Agreement (and the September 15, 1999 Consulting
Agreement) shall have no further binding force and effect.

     NOW, THEREFORE, in consideration of the premises and the mutual covenants
herein contained, the parties agree as follows:

     1.   Consulting. As of the Retirement Date, as defined herein, the
Executive agrees to provide the services described in Paragraph 3 hereof for the
period stated in

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Paragraph 2 hereof, subject to the other terms and conditions herein provided.
For the purposes of this Agreement, "Retirement Date" means the day after the
date the Executive leaves the full-time employ of the Company other than because
of death or Disability (as defined in Paragraph 5A hereof).

     2.   Term. The term shall commence as of the Retirement Date and shall
continue until the tenth anniversary of such date, unless this Agreement is
sooner terminated as hereinafter set forth (the "Term").

     3.   Duties. During the Term, the Executive shall devote his best efforts
and such of his business time, attention, skill and efforts as are necessary to
consult with the executive officers and Board of Directors of the Company and
the Bank with respect to such matters as may be reasonably requested by the
Company and the Bank; provided, however, that nothing in this Agreement shall
preclude the Executive from devoting reasonable periods required for serving as
a director or consultant to any business organization which does not involve a
material conflict of interest with the Company's business, from engaging in
charitable and community activities, and from managing his personal investments,
so long as such activities do not negatively impact on the Executive's
availability and ability to provide services to the Company hereunder. The
parties hereto acknowledge and agree that (i) the Executive shall be free to
reside and work at any location of his choice within the direct geographical
service area of the Company and the Bank, (ii) in certain circumstances, the
Executive may respond to the Company's requests for his services by telephone,
mail, facsimile or similar means of communication, (iii) in requiring the
Executive's services hereunder, the Company shall consider the reasonable
convenience of the Executive and the demands of his other commitments; (iv) the
conduct and control of the consulting services to be performed hereunder shall
be the sole responsibility of the Executive; (v) the Company and the Executive
shall reasonably agree upon the Executive's schedule and the hours during which
he shall be required to perform consulting services hereunder, and (vi) nothing
in this Agreement requires the Executive to devote his full time efforts to or
on behalf of the Company. The Company hereby acknowledges and agrees that the
Executive shall continue to receive compensation and benefits pursuant to this
Agreement as set forth in Paragraph 4 hereof notwithstanding the failure or
refusal of the Company to request the performance of consulting services by the
Executive hereunder. The Company may terminate this Agreement only for Cause as
set out in Paragraph 5B hereof.

     4.   Compensation. As compensation for the services to be provided pursuant
to this Agreement, the Executive shall receive from the Company or its
affiliates the compensation, expense reimbursement and other benefits set forth
below:

          A. Cash Compensation. The Company will pay to the Executive Seven
     Thousand Dollars ($7,000.00) per month for the Term. The payments shall be
     made on a monthly basis in arrears.

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          B. Reimbursement of Expenses. The Company shall pay or reimburse the
     Executive for all reasonable travel and other expenses incurred by the
     Executive in the performance of his duties hereunder. Upon the Executive's
     request, the Company shall, during the Term and at its expense, furnish the
     Executive with secretarial services and office space sufficient for the
     Executive to perform his duties hereunder at a location mutually convenient
     for the Company and the Executive.

          C. Benefits. For the Term and the Company's sole cost and expense
     (i.e., without any co-pay or cost sharing from the Executive), the Company
     shall provide comprehensive medical and dental insurance benefits to the
     Executive and/or the Executive's spouse and dependents; provided, however,
     that (1) if the Executive becomes re-employed with another employer and is
     eligible to receive medical or other benefits under another employer
     provided plan, the medical and other benefits described herein shall be
     secondary to those provided under such other plan during such applicable
     period of eligibility, provided that the aggregate coverage of the combined
     benefit plans is no less favorable to the Executive, in terms of amounts,
     deductibles and costs to him, than the coverage required hereunder, and (2)
     that if the Executive and/or the Executive's spouse qualifies for coverage
     by Medicare or any successor program, the Company may require that the
     Executive and/or the Executive's spouse fully participate in Medicare and
     pay the premiums therefor personally.

          D. Company Car. For the Term and the Company's expense, the Company
     shall provide the Executive with a vehicle that is similar in quality to
     those provided by the Company to the Executive while the Executive was
     employed as Chairman of the Board and Chief Executive Officer of the
     Company and the Bank. In addition, at the Company's choice, the Company
     shall either reimburse the Executive for the Executive's consulting service
     related out-of-pocket vehicle expenses, or shall pay the Executive the
     Company's then current mileage reimbursement allowance for all miles
     traveled by the Executive while performing consulting services pursuant to
     this Agreement. The Executive agrees to provide the Company with whatever
     reasonable information and documentation that the Company may require
     regarding consulting related vehicle usage. At such times as the Company
     and the Executive shall agree, but not less frequent than every forty-eight
     (48) month period during the Term, the Company shall replace and update the
     Executive's vehicle.

     5.   Consequences of the Executive's Death or Disability, Voluntary
          Termination or Termination by the Company for Cause.

          A. Death or Disability. The Executive's obligations under this
     Agreement shall terminate upon the death or Disability of the Executive.
     The Company's obligations to pay the cash compensation discussed in
     Paragraph 4A shall also terminate upon the death or Disability of the
     Executive. The Company

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     will have the obligation to reimburse the Executive for expenses allowed
     under Paragraph 4B hereof which were incurred prior to the date of death or
     Disability. Thereafter, the Company's obligations under Paragraph 4B will
     cease. The health benefits discussed in Paragraph 4C will continue for ten
     years from the Retirement Date, notwithstanding the death or Disability of
     the Executive or, if shorter, until the death of the last to die of the
     Executive or his spouse. For purposes of this Agreement, the Executive
     shall have suffered a "Disability" if he is disabled within the meaning of
     the Company's long-term disability plan. If the Company does not have such
     a plan, the Executive shall have suffered a "Disability" if he is unable to
     perform his duties with or without reasonable accommodation for ninety (90)
     consecutive business days or one hundred twenty (120) business days in the
     aggregate during a 365-day period as a result of incapacity due to mental
     or physical illness which is determined to be total and permanent by a
     physician selected by the Company or its insurers and acceptable to the
     Executive or the Executive's legal representative, provided if the parties
     are unable to agree, the parties shall request that the President of the
     Schoolcraft County Medical Society choose such physician.

          B. Termination by the Company for Cause. The Company may terminate the
     Executive's services hereunder for Cause. There will be Cause for
     termination under any of the following circumstances: (i) any act of
     Personal Dishonesty (as hereinafter defined) by the Executive; (ii) any act
     of Willful Misconduct (as hereinafter defined) by the Executive; (iii) any
     act by the Executive constituting a breach of his fiduciary duty to the
     Company which results or is intended to result in gain to, or personal
     enrichment of, the Executive at the Company's expense; or (iv) any breach
     by the Executive of Paragraph 6A through 6D of this Agreement
     (noncompetition, confidential information, and nonsolicitation). For
     purposes of this Agreement: "Personal Dishonesty" means conduct on the part
     of the Executive which evinces a want of integrity or an intentional breach
     of trust and which directly causes (or the Board of Directors determines is
     reasonably likely to cause) material injury to the Company; and "Willful
     Misconduct" means conduct on the part of the Executive which evinces a
     deliberate disregard of the interest of the Company and which causes (or
     the Board of Directors determines is reasonably likely to cause) material
     injury to the Company. The Executive acknowledges and agrees that after the
     Termination Date, he shall no longer be entitled to receive any of the
     compensation provided under Paragraph 4 hereof but that Paragraphs 6A
     through 6D hereof shall continue to apply to the extent provided therein.

          C. Termination by the Executive. The Executive may terminate this
     Agreement at any time by giving eighteen (18) months prior written notice
     to the Company. In such event, the Executive shall receive no further
     compensation hereunder after the Termination Date as defined herein. After
     the Termination Date, the provisions of Paragraphs 6A through 6D hereof
     shall continue to apply to the extent provided therein. The term
     "Termination Date" shall mean (A) the

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     date the Company notifies the Executive that his duties hereunder are being
     terminated for Cause; (B) the day after expiration of the eighteen (18)
     month period specified in Paragraph 5C if this Agreement is terminated by
     the Executive pursuant to Paragraph 5C unless the Executive and the Company
     agree on an earlier date; provided, however, that (1) any such Notice of
     Termination shall be given in accordance with Paragraph 5D hereof, and (2)
     if a dispute exists concerning the termination, the Termination Date shall
     be the date on which the dispute is finally settled, either by mutual
     written agreement of the parties, or by arbitration as provided in
     Paragraph 7F hereof.

          D. Termination Notice and Procedure. Any termination by the Company
     for Cause as provided under Paragraph 5B hereof or by the Executive as
     provided under Paragraph 5C hereof, shall be made by written Notice of
     Termination to the other party delivered by hand or certified mail (postage
     prepaid), return receipt requested, addressed, if to the Company, at its
     main office at 1011 Noteware Drive, Traverse City, MI 49686, or if to the
     Executive, at the address set forth on the signature page of this Agreement
     (or such other address as shall be specified in writing by either party to
     the other). Any such Notice of Termination shall be made in accordance with
     the following procedures:

               (i) Any Notice of Termination for Cause under Paragraph 5B shall
          indicate the specific termination provision in this Agreement relied
          upon and shall set forth in reasonable detail the facts and
          circumstances alleged to provide a basis for termination. Any
          termination of employment by the Executive under Paragraph 5C shall
          state such fact therein.

               (ii) Any Notice of Termination by the Company for Cause under
          Paragraph 5B hereof shall be approved by a resolution duly adopted by
          a majority of the Directors of the Company (or any successor
          corporation) then in office, specifying in detail the basis for such
          termination.

               (iii) In the event of a purported termination by the Company for
          Cause, if within thirty (30) days following the date of receipt of the
          Notice of Termination, one party notifies the other that a dispute
          exists concerning the basis for termination, this Agreement shall not
          be terminated until the dispute is finally resolved either by mutual
          written agreement of the parties, or by arbitration as provided in
          Paragraph 7F hereof.

     6.   Obligations of the Executive During and After the Term.

          A. Competition. The Executive agrees that during the Term, and for the
     two-year period following the Term, he shall not, either directly or
     indirectly, as an agent, stockholder, employee, officer, director, trustee,
     partner, member, proprietor or otherwise, render advice or assistance to
     (other than on behalf of the Company) or be employed by or render services
     to any person, company,

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     business entity, or other organization which is engaged in the business of
     providing banking or financial services within a sixty (60) mile radius of
     any branch office of the Bank or any other affiliated entity of the
     Company. The terms "banking" and "financial services" shall be defined as
     only those services that are being offered by the Bank at the time that
     this Agreement is signed by the parties. The Company, Bank and any other
     affiliated entity of the Company are hereafter referred to as the "Company
     Affiliated Group."

          B. Confidential Information. The Executive shall not make any
     Unauthorized Disclosure. For purposes of this Agreement, "Unauthorized
     Disclosure" shall mean disclosure by the Executive without the consent of
     the Board of Directors to any person, other than an employee of the Company
     Affiliated Group or a person to whom disclosure is reasonably necessary or
     appropriate in connection with the performance by the Executive of his
     duties hereunder or as may be legally required, of any confidential
     information obtained by the Executive while rendering services to the
     Company Affiliated Group (including, but not limited to, any confidential
     information with respect to any of the Company Affiliated Group's customers
     or methods of operation) the disclosure of which he knows or has reason to
     believe will be materially injurious to the Company Affiliated Group;
     provided, however, that such term shall not include the use or disclosure
     by the Executive, without consent, of any information known generally to
     the public (other than as a result of disclosure by him in violation of
     this Paragraph 6B) or any information not otherwise considered confidential
     by a reasonable person engaged in the same business as that conducted by
     the Company Affiliated Group.

          C. Solicitation of Employees. The Executive will not, during the Term
     and for the two-year period following the Term, directly or indirectly,
     induce, solicit, entice or procure any person who is an employee of the
     Company Affiliated Group, or has been such an employee within the three
     months preceding such contact by the Executive, to terminate his or her
     employment with the Company Affiliated Group so as to accept employment
     with any person, company, business entity, or other organization
     whatsoever.

          D. Solicitation of Customers. During the Term and for the two-year
     period following the Term, the Executive will not, directly or indirectly,
     contact any customer or prospective customer of the Company Affiliated
     Group with whom the Executive has had contact on behalf of the Company
     Affiliated Group during the two-year period preceding the date of
     termination of the Term or any customer or prospective customer about whom
     the Executive has obtained confidential information in connection with the
     Executive's services to the Company Affiliated Group during such two-year
     period so as to cause or attempt to cause such customer or prospective
     customer of the Company Affiliated Group not to do business or to reduce
     such customer's business with the Company Affiliated Group or divert any
     business from the Company Affiliated Group.

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          E. Enforcement of Covenants. The Executive recognizes that irreparable
     and incalculable injury will result to the Company Affiliated Group, its
     businesses or properties in the event of his breach of any of the
     restrictions imposed by this Section 6. The Executive therefore agrees
     that, in the event of any such actual, impending or threatened breach, the
     Company or any affiliate thereof will be entitled, in addition to any other
     remedies and damages, to temporary and permanent injunctive relief (without
     the necessity of posting a bond or other security) restraining the
     violation, or further violation, of such restrictions by the Executive and
     by any other person or entity for whom the Executive may be acting or who
     is acting for the Executive or in concert with the Executive.

     7.   General Provisions.

          A. Successors and Assigns. (i) This Agreement shall be binding upon
     and shall inure to the benefit of the Company, its successors and assigns,
     and the Company shall require any successor or assign (whether direct or
     indirect, by purchase, merger, consolidation or otherwise) to expressly
     assume and agree to perform this Agreement in the same manner and to the
     same extent that the Company would be required to perform if no such
     succession or assignment had taken place. The term "Company" as used herein
     shall include such successors and assigns. The term "successors and
     assigns" as used herein shall mean a corporation or other entity acquiring
     all or substantially all the assets and business of the Company (including
     this Agreement) whether by operation of law or otherwise.

                  (ii) Neither this Agreement nor any right or interest
     hereunder shall be assignable or transferable by the Executive, nor shall
     the Executive's rights hereunder be subject to encumbrance or to the claims
     of the Executive's creditors. This Agreement and all rights of the
     Executive hereunder shall inure to the benefit of and be enforceable by the
     Executive's personal or legal representatives, Estate, executors,
     administrators, heirs and beneficiaries.

          B. Enforcement. The provisions of this Agreement shall be regarded as
     divisible, and if any of said provisions or any part hereof are declared
     invalid or unenforceable by a court of competent jurisdiction, the validity
     and enforceability of the remainder of such provisions or parts hereof and
     the applicability thereof shall not be affected thereby.

          C. Amendment. This Agreement may not be amended or modified except by
     written instrument executed by the Company and the Executive.

          D. Independent Contractor. The parties hereto acknowledge and agree
     that the Executive shall be an independent contractor during the Term and
     that he shall not be deemed an employee of the Company. In acknowledging
     that he is providing services as an independent contractor, the Executive
     acknowledges and agrees that, except as specifically provided in
     Paragraph 4

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     hereof, he shall not be entitled to participate in any insurance, qualified
     or nonqualified benefit plans or other fringe benefits provided by the
     Company to its employees and that, except as required by federal, state or
     local law, the Company shall not be required to withhold nor shall the
     Company withhold any income, social security, unemployment or other taxes
     or similar payments from the amounts payable to the Executive hereunder. In
     the event the Company shall be required by law to withhold any such taxes
     or payments from amounts payable to the Executive under Paragraph 4 hereof,
     the amounts payable to the Executive thereunder shall be reduced
     accordingly.

          E. Governing Law. This Agreement and the rights and obligations
     hereunder shall be governed by and construed in accordance with the
     internal laws of the State of Michigan without giving effect to its
     principles of conflicts of laws.

          F. Arbitration. Any controversy or claim arising out of or relating to
     this Agreement, or the breach thereof, other than a controversy or claim
     arising in connection with Section 6 hereof (the noncompetition,
     confidentiality and nonsolicitation provisions) where the Company is
     seeking injunctive relief, shall be settled exclusively by arbitration by a
     single arbitrator mutually agreed to by the disputing parties in accordance
     with the Commercial Arbitration Rules of the American Arbitration
     Association as then in effect. Such arbitration will be held in Manistique,
     Michigan or such other place as is mutually agreed to by the disputing
     parties. Judgment on the award rendered by the arbitrator may be entered in
     any court having jurisdiction thereof. The arbitrator may award costs and
     reasonable attorneys' fees to the prevailing party in any arbitration
     conducted pursuant to this Agreement.

          G. Notice. Notices given pursuant to this Agreement shall be in
     writing and shall be considered to be given and received in all respects
     when personally delivered, when transmitted by facsimile or on the second
     business day following the date deposited in the United States mail,
     certified mail, postage pre-paid, return receipt requested, addressed to
     the parties as set forth below or at such other address as each party may
     specify by notice to the other party, or in the case of a facsimile, to the
     facsimile number indicated:

          If to the Company:     North Country Financial Corporation
                                 1011 Noteware Drive
                                 Traverse City, Michigan 49686
                                 Attention:  Compensation Committee Chairperson

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          If to the Executive:

                                  Attention: Ronald G. Ford
                                  1385 Opal Lake Road
                                  Gaylord, MI  49735

          H. No Waiver. No waiver by either party at any time of any breach of
     the other party of, or compliance with, any condition or provision of this
     Agreement to be performed by the other party shall be deemed a waiver of
     similar or dissimilar provisions or conditions at the same time or any
     prior or subsequent time.

          I. Headings. The headings herein contained are for reference only and
     shall not affect the meaning or interpretation of any provision of this
     Agreement.

          J. Effect on Previous Agreements. It is expressly agreed by and
     between the Company and the Executive that the execution hereof by the
     parties renders null and void all terms, conditions and the continuing
     effectiveness of the September 15, 1999 and the July 3, 2000 Consulting
     Agreements between the parties. The Company and the Executive declare and
     acknowledge that it was their express intention to replace the September
     15, 1999 Consulting Agreement with the July 3,2000 Consulting Agreement and
     it is their express intention to replace the July 3, 2000 Agreement with
     this Amended and Restated Consulting Agreement.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first above written.

                                      COMPANY: NORTH COUNTRY BANK AND TRUST:

                                      By: /s/ Sherry Littlejohn
                                          --------------------------------------
                                          Sherry Littlejohn, its President &
                                          Authorized Signatory

                                      EXECUTIVE: RONALD G  FORD:

                                      /s/ Ronald G. Ford
                                      ------------------------------------------
                                      Ronald G. Ford

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EXHIBIT 10.1

Line of Credit Agreement

Bank One, Michigan (the "Bank"), whose address is 611 Woodward Avenue, Detroit,
Michigan 48226-3947, has approved the credit facilities listed below
(collectively, the "Credit Facilities," and, individually, as designated below)
to Syntel, Inc. (the "Borrower"), whose address is 2800 Livernois, Suite 400,
Troy, MI 48083 subject to the terms and conditions set forth in this agreement.

1.0      Credit Facilities.

         1.1  Facility A (Including Letters of Credit). The Bank has approved a
              credit facility to the Borrower in the principal sum not to exceed
              $20,000,000.00 in the aggregate at any one time outstanding
              ("Facility A"). Facility A shall include the issuance of standby
              letters of credit not exceeding $5,000,000.00 in the aggregate at
              any one time outstanding, expiring not later than February 28,
              2003 (the "Letters of Credit"). Each Letter of Credit shall be in
              form acceptable to the Bank and shall bear a fee of 1% per year of
              the face amount payable annually in advance. Credit under Facility
              A shall be in the form of disbursements evidenced by credits to
              the Borrower's account and shall be repayable as set forth in a
              Revolving Business Credit Note executed concurrently (referred to
              in this agreement both singularly and together with any other
              promissory notes referenced in this Section 1 as the "Notes") or
              by issuance of a Letter of Credit upon completion of an
              application acceptable to the Bank. The proceeds of Facility A
              shall be used for the following purpose: working capital. Facility
              A shall expire on August 31, 2002 unless earlier withdrawn.

         1.2  Liabilities. The Term "Liabilities" in this agreement means all
              obligations, indebtedness and liabilities of the Borrower to any
              one or more of the Bank, BANK ONE CORPORATION, and any of their
              subsidiaries, affiliates or successors, now existing or later
              arising, including, without limitation, all loans, advances,
              interests, costs, overdraft indebtedness, credit card
              indebtedness, lease obligations, or obligations relating to any
              Rate Management Transaction, all monetary obligations incurred or
              accrued during the pendency of any bankruptcy, insolvency,
              receivership or other similar proceedings, regardless of whether
              allowed or allowable in such proceeding, and all renewals,
              extensions, modifications, consolidations or substitutions of any
              foregoing, whether the Borrower may be liable jointly with others
              or individually liable as a debtor, maker, co-maker, drawer,
              endorser, guarantor, surety or otherwise, and whether voluntarily
              or involuntarily incurred, due or not due, absolute or contingent,
              direct or indirect, liquidated or unliquidated. The term "Rate
              Management Transaction" in this agreement means any transaction
              (including an agreement with respect thereto) now existing or
              hereafter entered into among the Borrower, the Bank or BANK ONE
              CORPORATION, or any of its subsidiaries or affiliates or their
              successors, which is a rate swap, basis swap, forward rate
              transaction, commodity swap, commodity option, equity or equity
              index swap, equity or equity index option, bond option, interest
              rate option, foreign exchange transaction, cap transaction, floor
              transaction, collar transaction, forward transaction, currency
              swap transaction, cross-currency rate swap transaction, currency
              option or any similar transaction (including any option with
              respect to any of these transactions) or any combination thereof,
              whether linked to one or more interest rates, foreign currencies,
              commodity prices,

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equity prices or other financial measures.

2.0      Conditions Precedent.

         2.1  Conditions Precedent to Initial Extension of Credit. Before the
              first extension of credit under this agreement, whether by
              disbursement of a loan, issuance of a letter of credit, the
              funding of a Lease or otherwise, the Borrower shall deliver to the
              Bank, in form and substance satisfactory to the Bank:

              A.      Loan Documents. The Notes, and if applicable, the Leases,
                      the letter of credit applications, the security agreement,
                      financing statements, mortgage, guaranties, subordination
                      agreements and any other loan documents which the Bank may
                      reasonably require to give effect to the transactions
                      described by this agreement or to any Liabilities being
                      entered into concurrently;

              B.      Evidence of Due Organization and Good Standing. Evidence
                      satisfactory to the Bank of the due organization and good
                      standing of the Borrower and every other business equity
                      that is a party to this agreement or any other loan
                      document required by this agreement;

              C.      Evidence of Authority to Enter into Loan Documents.
                      Evidence satisfactory to the Bank that (i) each party to
                      this agreement and any other loan document required by
                      this agreement is authorized to enter into the
                      transactions described by this agreement and the other
                      loan documents, and (ii) the person signing on behalf of
                      each party is authorized to do so; and

         2.2  Conditions Precedent to Each Extension of Credit. Before any
              extension of credit under this agreement, whether by disbursement
              of a loan, issuance of a letter of credit, the funding of a Lease
              or otherwise, the following conditions shall have been satisfied;

              A.      Representations. The Representations contained in this
                      agreement shall be true on and as of the date of the
                      extension of credit;

              B.      No Event of Default. No event of default shall have
                      occurred and be continuing or would result from the
                      extension of credit;

              C.      Additional Approvals, Opinions, and Documents. The Bank
                      shall have received such other approvals, opinions and
                      documents as it may reasonably request.

3.0      Fees and Expenses.

         3.1  Out-of-Pocket Expenses. The Borrower shall reimburse the Bank for
              its out-of-pocket expenses, and reasonable attorney's fees
              (including the fees of in-house counsel) allocated to the Credit
              Facilities.

4.0      Security.

         4.1  [Deleted].

         4.2  No forbearance or extension of time granted any subsequent owner
              of the Collateral shall release the Borrower from liability.

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         4.3  Additional Collateral/Setoff. To further secure payment of the
              borrowings and all other obligations under the Credit Facilities
              and all other Liabilities, the Borrower grants to the Bank a
              continuing security interest in: (i) all securities and other
              property of the Borrower in the custody, possession or control of
              the Bank (other than property held by the Bank solely in a
              fiduciary capacity) and (ii) all balances of deposit accounts of
              the Borrower with the Bank ("deposit account" having the meaning
              given to it in the UCC). The foregoing shall be considered to be
              part of the Collateral for the Credit Facilities and all other
              Liabilities and is included whenever the term "Collateral" is used
              in this agreement. The Bank shall have the right at any time to
              apply its own debt or liability to the Borrower, or to any other
              party liable for payment of the obligations under the Credit
              Facilities or any other Liabilities, in whole or partial payment
              of such obligations or other Liabilities, without any requirement
              of mutual maturity.

         4.4  Cross Lien. Any of the Borrower's other property in which the Bank
              has a security interest to secure payment or performance of any
              other Liabilities, shall also secure payment of and be part of the
              Collateral for the Credit Facilities.

5.0      Affirmative Covenants. The Borrower, and each of its subsidiaries, if
         any, shall:

         5.1  Insurance. Maintain insurance with financially sound and reputable
              insurers covering its properties and business against those
              casualties and contingencies and in the types and amounts as shall
              be in accordance with sound business and industry practices.

         5.2  Existence. Maintain its existence and business operations as
              presently in effect in accordance with all applicable laws and
              regulations, pay its debts and obligations when due under normal
              terms, and pay on or before their due date, all taxes,
              assessments, fees and other governmental monetary obligations,
              except as they may be contested in good faith if they have been
              properly reflected on its book and, at the Bank's request,
              adequate funds or security has been pledged to insure payment.

         5.3  Financial Records. Maintain proper books and records of account,
              in accordance with generally accepted accounting principles where
              applicable, and consistent with financial statements previously
              submitted to the Bank. The Bank retains the right to inspect the
              Collateral and business records related to it at such times and at
              such intervals as the Bank may reasonably require.

         5.4  Notice. Give prompt notice to the Bank of the occurrence of (i)
              any Event of Default, and (ii) any other development, financial or
              otherwise, which would affect the Borrower's business, properties
              or affairs in a materially adverse manner.

         5.5  Financial Reports. Furnish to the Bank whatever information,
              books, and records the Bank may reasonably request, including at a
              minimum: (If the Borrower has subsidiaries, all financial
              statements required will be provided on a consolidated and on a
              separate basis.)

         5.6  Financial Reports. Furnish to the Bank whatever information,
              books, and records the Bank may reasonably request, including at a
              minimum: If the Borrower has subsidiaries, all financial
              statements required will be provided on a consolidated and on a
              separate basis.

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              A.      Within 45 days after each quarterly period, a balance
                      sheet as of the end of that period and statements of
                      income, cash flows, and retained earnings from the
                      beginning of that fiscal year to the end of that period,
                      certified as correct by one of its authorized agents.

              B.      Within 180 days after, and as of the end of, each of its
                      fiscal years, a detailed financial statement including a
                      balance sheet and statements of income, retained earnings,
                      and cash flows audited by an independent certified public
                      accountant of recognized standing.

6.0      Negative Covenants.

         6.1  Definitions. As used in this agreement, the following terms shall
              have the following respective meanings:

              A.      "Debt Service" means for any period, principal and
                      interest payments either paid or due during that period on
                      all debt of the Borrower.

              B.      "EBITDA" means for any period, net income plus to the
                      extent deducted in determining net income, interest
                      expense (including but not limited to imputed interest on
                      capital leases), tax expense, depreciation, and
                      amortization.

              C.      "Subordinated Debt" means debt subordinated to the Bank in
                      manner and by agreement satisfactory to the Bank.

              D.      "Tangible Net Worth" means total assets less intangible
                      asses, total liabilities, and all sums owing from
                      stockholders, members, or partners, as the case may be,
                      and from officers, managers, and directors. Intangible
                      assets include goodwill, patents, copyrights, mailing
                      lists, catalogs, trademarks, bond discount and
                      underwriting expenses, organization expenses, and all
                      other intangibles.

         6.2  Unless otherwise noted, the financial requirements set forth in
              this section shall be computed in accordance with generally
              accepted accounting principles applied on a basis consistent with
              financial statements previously submitted by the Borrower to the
              Bank.

         6.3  Without the written consent of the Bank, the Borrower shall not:
              (where appropriate, covenants apply on a consolidated basis).

              A.      Dividends. Acquire or retire any of its shares of capital
                      stock, or declare or pay dividends or make any other
                      distributions upon any of its share of capital stock or
                      percentage ownership interests, except dividends payable
                      in its capital stock and dividends payable to "Subchapter
                      S" corporation shareholders and distributions payable to
                      LLC members in amounts sufficient to pay the shareholders'
                      or members' income tax obligations related to the
                      Borrower's taxable income.

              B.      Sale of Shares. Issue, sell or otherwise dispose of any
                      shares of its capital stock or other securities, or
                      rights, warrants or options to purchase or acquire any
                      such shares or securities.

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<PAGE>

              C.      Debt. Incur, or permit to remain outstanding, debt for
                      borrowed money or installment obligations, except debt
                      reflected in the latest financial statement of the
                      Borrower furnished to the Bank prior to execution of this
                      agreement and not to be paid with proceeds of borrowings
                      or leases under the Credit Facilities. For purposes of
                      this covenant, the sale of any accounts receivable shall
                      be deemed the incurring of debt for borrowed money.

              D.      Guaranties. Guarantee or otherwise become or remain
                      secondarily liable on the undertaking of another, except
                      for endorsement of drafts for deposit and collection in
                      the ordinary course of business.

              E.      Liens. Create or permit to exist any lien on any of its
                      property, real or personal, except: existing liens known
                      to the Bank; liens to the Bank; liens incurred in the
                      ordinary course of business securing current nondelinquent
                      liabilities for taxes, worker's compensation, unemployment
                      insurance, social security and pension liabilities; and
                      liens for taxes being contested in good faith.

              F.      Advances and Investments. Purchase or acquire any
                      securities of, or make any loans or advances to, or
                      investments in, any person, firm or corporation, except
                      obligations of the United States Government, open market
                      commercial paper rated one of the top two ratings by a
                      rating agency of recognized standing, or certificates of
                      deposit in insured financial institutions.

              G.      Use of Proceeds. Use, or permit any proceeds of the Credit
                      Facilities to be used, directly or indirectly, for the
                      purpose of "purchasing or carrying any margin stock"
                      within the meaning of Federal Reserve Board Regulation U.
                      At the Bank's request, the Borrower shall furnish to the
                      Bank a completed Federal Reserve Board Form U-1.

              H.      Tangible Net Worth. Permit its Tangible Net Worth to be
                      less than $70,000,000.00.

              I.      Leverage Ratio. Permit the ratio of its total liabilities
                      to its Tangible Net Worth to exceed 1.00 to 1.00*.

              J.      Borrowing capabilities not to exceed $60,000.00.

*Tangible     Net Worth defined as total assets less intangible
              assets, less all sums owing from stockholders, officers,
              directors, employees, and investments in related entities, less
              total liabilities.

7.0      Representations by Borrower. Each Borrower represents that: (a) the
         execution and delivery of this agreement, the Notes, and the Leases and
         the performance of the obligations they impose do not violate any law,
         conflict with any agreement by which the Borrower is bound, or require
         the consent or approval of any governmental authority or other third
         party; (b) this agreement, the Notes, and the Leases are valid and
         binding agreements, enforceable in accordance with their terms; and (c)
         all balance sheets, profit and loss statements, and other financial
         statements furnished to the Bank are accurate and fairly reflect the
         financial condition of the organizations and persons to which they
         apply on their effective dates, including contingent liabilities of
         every type, which financial condition has not changed materially and
         adversely since those dates. Each Borrower, if other than a natural
         person, further represents that: (a) it is duly organized, existing and
         in good standing under the

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         laws of the jurisdiction under which it was organized; and (b) the
         execution and delivery of this agreement, the Notes, and the Leases
         and the performance of the obligations they impose (i) are within its
         powers; (ii) have been duly authorized by all necessary action of its
         governing body; and (iii) do not contravene the terms of its articles
         of incorporation or organization, its bylaws, or any partnership,
         operating or other agreement governing its affairs.

8.0      Events of Default/Acceleration.

         8.1  Events of Default/Acceleration. If any of the following events
              occurs, the Credit Facilities shall terminate and all borrowings
              and other obligations under them shall be due immediately, without
              notice, at the Bank's option whether or not the Bank has made
              demand.

              A.      The Borrower or any guarantor of any of the Credit
                      Facilities, the Notes, the Leases or any other Liabilities
                      (each, a "Guarantor") fails to pay when due any amount
                      payable under the Credit Facilities, under any other
                      Liabilities, or under any agreement or instrument
                      evidencing debt to any creditor;

              B.      The Borrower or any Guarantor (a) fails to observe or
                      perform any other term of this agreement, the Notes, or
                      the Leases; (b) makes any materially incorrect or
                      misleading representation, warranty, or certificate to the
                      Bank; (c) makes any materially incorrect or misleading
                      representation in any financial statement or other
                      information delivered to the Bank; or (d) defaults under
                      the terms of any agreement or instrument relating to any
                      debt for borrowed money (other than borrowings under the
                      Credit Facilities) such that the creditor declares the
                      debt due before its maturity;

              C.      There is a default under the terms of any loan agreement,
                      mortgage, security agreement or any other document
                      executed as part of the Credit Facilities or any other
                      Liabilities, or any guaranty of the obligations under the
                      Credit Facilities or any other Liabilities becomes
                      unenforceable in whole or in part, or any Guarantor fails
                      to promptly perform under its guaranty;

              D.      A "reportable  event" (as defined in the Employee
                      Retirement Income Security Act of 1974 as amended)
                      occurs that would  permit the Pension  Benefit  Guaranty
                      Corporation  to terminate  any  employee  benefit  plan of
                      the  Borrower  or any  affiliate  of the Borrower;

              E.      The Borrower or any  Guarantor  becomes  insolvent or
                      unable to pay its debts as they become due;

              F.      The Borrower or any  Guarantor (a) makes an  assignment
                      for the benefit of  creditors;  (b) consents to the
                      appointment  of a  custodian,  receiver or trustee for it
                      or for a substantial  part  of its  assets;  or  (c)
                      commences  any  proceeding  under  any bankruptcy,
                      reorganization, liquidation or similar laws of any
                      jurisdiction;

              G.      A custodian, receiver or trustee is appointed for the
                      Borrower or any Guarantor or for a substantial part of its
                      assets without its consent and is not removed within 60
                      days after such appointment;

              H.      Proceedings are commenced against the Borrower or any
                      Guarantor under any bankruptcy, reorganization,
                      liquidation, or similar laws of any jurisdiction, and such
                      proceedings remain undismissed for 60 days after
                      commencement; or the Borrower or Guarantor consents to the
                      commencement of such proceedings;

              I.      Any judgment is entered against the Borrower or any
                      Guarantor, or any attachment, levy or garnishment is
                      issued against any property of the Borrower or any
                      Guarantor;

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<PAGE>

              J.      The Borrower or any Guarantor dies;

              K.      The Borrower or any Guarantor, without the Bank's written
                      consent, (a) is dissolved, (b) merges or consolidates with
                      any third party, (c) leases, sells or otherwise conveys a
                      material part of its assets or business outside the
                      ordinary course of business, (d) leases, purchases, or
                      otherwise acquires a material part of the assets of any
                      other corporation or business entity, except in the
                      ordinary course of business, or (e) agrees to do any of
                      the foregoing, (notwithstanding the foregoing, any
                      subsidiary may merge or consolidate with any other
                      subsidiary, or with the Borrower, so long as the Borrower
                      is the survivor);

              L.      The loan-to-value ratio of any pledged securities at any
                      time exceeds N/A%, and such excess continues for five (5)
                      days after notice from the Bank to the Borrower;

              M.      There is a substantial change in the existing or
                      prospective financial condition of the Borrower or any
                      Guarantor which the Bank in good faith determines to be
                      materially adverse; or

              N.      The Bank in good faith shall deem itself insecure.

         8.2  Remedies. If the borrowings and all other obligations under the
              Credit Facilities are not paid at maturity, whether by
              acceleration or otherwise, the Bank shall have all of the rights
              and remedies provided by any law or agreement. Any requirement of
              reasonable notice shall be met if the Bank sends the notice to the
              Borrower at least ten (10) days prior to the date of sale,
              disposition or other event giving rise to the required notice. The
              Bank is authorized to cause all or any part of the Collateral to
              be transferred to or registered in its name or in the name of any
              other person, firm or corporation, with or without designation of
              the capacity of such nominee. The Borrower shall be liable for any
              deficiency remaining after disposition of any Collateral. The
              Borrower is liable to the Bank for all reasonable costs and
              expenses of every kind incurred in the making or collection of the
              Credit Facilities, including, without limitation, reasonable
              attorney's fees and court costs (whether attributable to the
              Bank's in-house or outside counsel). These costs and expenses
              shall include, without limitation, any costs or expenses incurred
              by the Bank in any bankruptcy, reorganization, insolvency or other
              similar proceeding.

9.0      Miscellaneous.

         9.1  Notice from one party to another relating to this agreement shall
              be deemed effective if made in writing (including
              telecommunications) and delivered to the recipient's address,
              telex number or fax number set forth under its name below by any
              of the following means: (a) hand delivery, (b) registered or
              certified mail, postage prepaid, with return receipt requested,
              (c) first class or express mail, postage prepaid, (d) Federal
              Express or like overnight courier service or (e) fax, telex or
              other wire transmission with request for assurance of receipt in a
              manner typical with respect to communication of that type. Notice
              made in accordance with this section shall be deemed delivered
              upon receipt if delivered by hand or wire transmission, 3 business
              days after mailing if mailed by first class, registered or
              certified mail, or one business day after mailing or deposit with
              an overnight courier service if delivered by express mail or
              overnight courier.

         9.2  No delay on the part of the Bank in the exercise of any right or
              remedy shall operate as a waiver. No single or partial exercise by
              the Bank of any right or remedy shall preclude any other future
              exercise of it or the exercise of any other right

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<PAGE>

              or remedy. No waiver or indulgence by the Bank of any default
              shall be effective unless in writing and signed be the Bank, nor
              shall a waiver on one occasion by construed as a bar to or waiver
              of that right on any future occasion.

         9.3  This agreement, the Notes, the Leases and any related loan
              documents embody the entire agreement and understanding between
              the Borrower and the Bank and supersede all prior agreements and
              understandings relating to their subject matter. If any one or
              more of the obligations of the Borrower under this agreement, the
              Notes or the Leases shall be invalid, illegal or unenforceable in
              any jurisdiction, the validity, legality and enforceability of the
              remaining obligations of the Borrower shall not in any way be
              affected or impaired, and such invalidity, illegality or
              unenforceability in one jurisdiction shall not affect the
              validity, legality or enforceability of the obligations of the
              Borrower under this agreement, the Notes or the Leases in any
              other jurisdiction.

         9.4  The Borrower, if more than one, shall be jointly and severally
              liable.

         9.5  This agreement is delivered in the State of Michigan and governed
              by Michigan law. This agreement is binding on the Borrower and its
              successors, and shall inure to the benefit of the Bank, its
              successors and assigns.

         9.6  Section headings are for convenience of reference only and shall
              not affect the interpretation of this agreement.

10.0          Information Sharing. The Bank may provide, without any limitation
         whatsoever, any information or knowledge the Bank may have about the
         undersigned or any matter relating to this agreement and any related
         documents to BANK ONE CORPORATION, or any of its subsidiaries or
         affiliates or their successors, or to any one or more purchasers or
         potential purchasers of this agreement or any related documents, and
         the undersigned waives any right to privacy the undersigned may have
         with respect to such matters. The Borrower agrees that the Bank may at
         any time sell, assign or transfer one or more interests or participants
         in all or any part of its rights or obligations in this agreement to
         one or more purchasers whether or not related to the Bank.

11.0          Waiver of Jury Trial. The Bank and the Borrower knowingly and
         voluntarily waive any right either of them have a trial by jury in any
         proceeding (whether sounding in contract or tort) which is in any way
         connected with this or any related agreement, or the relationship
         established under them. This provision may only be modified in a
         written instrument executed by the Bank and the Borrower.

Executed by the parties on: August 31, 2001.

Bank One, Michigan                               Borrower: Syntel, Inc.

BY:      /s/ Bryndon C. Skelton         BY:      /s/ R. S. Ramdas
    --------------------------------        -------------------------------
         Bryndon C. Skelton                      R. S. Ramdas
Its:     Loan Officer                   Its:     Sr., Director of Internal
Audit

Address for Notices:
2155 W. Big Beaver                               2800 Livernois Road, Suite 400
Troy, Michigan  48084                            Troy, Michigan  48083
Fax No. (249) 816-0254                           Fax/Telex No.

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