Document:

EX-10.13 Lease Deed

 

Exhibit 10.13

LEASE DEED

by and between

VITP PRIVATE LIMITED

and

SPHERIS INDIA PRIVATE LIMITED

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	Section 1

	 	Exhibits
	 	 	1	 
	Section 2

	 	Demised Premises
	 	 	2	 
	Section 3

	 	Term & Termination
	 	 	2	 
	Section 4

	 	Rent
	 	 	3	 
	Section 5

	 	Reimbursements
	 	 	3	 
	Section 6

	 	Entire Agreement/Survival
	 	 	4	 
	Section 7

	 	Order of precedence
	 	 	4	 
	Section 8

	 	Applicable Laws
	 	 	4	 
	Section 9

	 	Partial Invalidity
	 	 	5	 
	Section 10

	 	Pronouns
	 	 	5	 
	Section 11

	 	Captions and Section Numbers
	 	 	5	 

 

 

LEASE DEED

This Lease Deed (“Lease”) is made as of the 5th day of July, 2007, by and between

VITP PRIVATE LIMITED a Company within the meaning of the Companies’ Act 1956 and having its
registered office at The V, Admin Block, Mariner, Plot No. 17, Software Units Layout, Madhapur,
Hyderabad — 500081, represented by its authorized signatory Mr. M. Bharani, (hereinafter referred
to as “LESSOR” which expression shall include its successors and assigns,) of the one part;

And

SPHERIS INDIA PRIVATE LIMITED a Company within the meaning of the Companies Act, 1956 and having
its registered office at One Spheris Plaza, Koramangala Block 8, Bangalore, Karnataka — 560095,
represented by its authorized signatory Mr. Suresh Nair, CEO & Managing Director, (hereinafter
referred to as “LESSEE” which expression include its successors and assigns) of the other part;

RECITALS

Lessor is the absolute owner of the property located at Plot No. 17, Software Units Layout,
Madhapur, Serilingampally Municipality, RR District (the “Property”), free from all claims and
encumbrances.

Lessor and Lessee wish to enter into a lease arrangement for the “Demised Premises” as described in
Exhibit ‘D’ attached hereby with this Lease Deed for the term and subject to the conditions and
agreements herein contained.

Now therefore, in consideration of the mutual promises and agreements set forth in this Lease Deed
together with the Exhibits and any Addenda attached hereto, Lessor and Lessee agree as follows:

SECTION 1. EXHIBITS

This Lease together with the Exhibits annexed hereto and hereinafter described are by reference
incorporated herein and made a part hereof as though fully set forth in the text of this Lease. The
Exhibits consist of the following:

      Exhibit A — Definitions

      Exhibit B — General Terms & Conditions (GTC)

      Exhibit C — Special Terms & Conditions (STC)

      Exhibit D — Demised Premises & Rent

      Exhibit E — Operating Expenses

1

 

      Exhibit F — Lessor Fixtures

      Exhibit G — Lessee Fixtures

SECTION 2. DEMISED PREMISES

Lessor hereby demises and leases unto Lessee, and Lessee does lease and take from Lessor, the
Demised Premises (as defined in Exhibit ‘D’) together with easements, rights and advantages of
Lessee thereof, for setting up their office premises and together with the right of Lessee, its
employees, agents, contractors and servants to the use of the Demised
Premises.

SECTION 3. TERM & TERMINATION

	a)	 	This Lease and all of the parties’ respective rights, obligations and liabilities hereunder
shall commence on 1st June 2007 (the “Lease Commencement Date”).

	b)	 	The term of this Lease shall be for a period of 9 (Nine) Years (the “Term”) commencing from
the Lease Commencement Date. The Lease may be renewed for a further period on the Lessee’s
sole option and subject to mutually agreed terms and conditions their upon by Lessor and
Lessee. Lessee shall inform the Lessor in writing of its intent to renew at least 6 months
prior to the expiry of the Lease term.

	c)	 	The Lock in period shall be for three (3) years from the Lease Commencement Date and the
Lessee shall not terminate the Lease during the Lock in period, subject to force majeure and
breach of any of the terms by the Lessor and subject to section 4(f), demised premises
described in exhibit ‘D’.

	d)	 	After the Lock in Period, either party may terminate the Lease anytime by giving a six (6)
months notice in writing to the other party.

	e)	 	The Lessor shall have the right to terminate this Lease in case of default by Lessee in the
performance and observance of the covenants and conditions as contained in GTC 30 on its Part
to be observed and performed in accordance with the procedure specified in GTC 30

	f)	 	The Lessee or Lessor shall be entitled to terminate the Lease in the event of any breach or
default by the either of the parties in performance or observance of any or all of the
covenants and conditions as specified in this Lease deed and in the GTC. In the event of such
breach or default by the Lessor or Lessee, (a), Lessee or Lessor shall give a written notice
of the nature of the default or breach; (b) Upon receipt of the notice of default, Lessor or
Lessee shall be entitled to remedy the default within a period of 30 days; (c) Upon the expiry
of the cure period, Lessee or Lessor shall be entitled to terminate the Lease forthwith
without any recourse.

2

 

SECTION 4. RENT

The obligation of the Lessee to pay Rent shall commence on 1st October 2007 or the Lessor obtaining
Provisional Occupation Certificate for the Demised Premises whichever is earlier. Lessee covenants
and agrees to pay to Lessor a monthly Rent as follows:

	a)	 	Rs. 9,83,250/- (Rupees Nine Lakh Eighty Three Thousand and Two Hundred Fifty only) as
consideration for the lease of the Demised Premises (hereinafter “Base Rent”) inclusive of
current property tax and based on the computations described in Exhibit ‘D’ and subject to the
conditions described in GTC-13 of Exhibit ‘B’. The Base Rent shall be increased by 10% per
annum at the end of 2 (Two) years from the Lease Commencement Date, and thereafter shall be
increased by 5% per annum at each anniversary of this Lease.

	b)	 	The Lessee is entitled to a rent free fit out period of three (3) months starting from the
Lease Commencement Date and ending on 31st August 2007. All consumption during fit out period
shall be chargeable at actuals and on production of bills.

	c)	 	Rs. 1,00,000/- (Rupees One Lakh Only) for the use of the cafeteria (hereinafter “Cafeteria
Usage Charges”) based on the computation described in of Exhibit ‘D’ and subject to the
conditions described in GTC-13 of Exhibit ‘B’. The Cafeteria Usage Charges shall be increased
by 10% per annum at the end of 2 (Two) years from the Lease Commencement Date and thereafter
shall be increased by 5% per annum at each anniversary of this Lease.

	d)	 	Rs. 58,000/- (Rupees Fifty Eight Thousand Only) towards Parking Charges, as computed in
detail in Exhibit B and subject to the conditions described in GTC 9 of Exhibit B & Exhibit D.
As a special arrangement Lessee is exempted from paying rental towards 5 (five) out of 25
(Twenty Five) four Wheeler Parking and 15 out of 75 two wheeler for first five years of the
Lease. Thereafter rentals at the then prevailing campus rates would be applicable.

	e)	 	Rs. 1,29,375/- (Rupees One Lakh Twenty Nine Thousand and Three Hundred Seventy five Only) for
common area and equipment maintenance as described in GTC-3 (a) of Exhibit ‘B’ (hereinafter
“Maintenance Charges”) based on the computations described in Exhibit ‘D’. The Maintenance
Charges shall be reviewed every financial year and shall be increased in accordance with the
provision of GTC-3 (c) of Exhibit ‘B’.

	f)	 	Notwithstanding anything contained herein, if the Lessee terminates this Lease prematurely
before completion of the Lock In Period (called the “Early Termination Date”), then Lessee
agrees at all times to pay an early termination compensation of an amount equivalent to the
Base Rent, that would have been payable for the remaining period from date of termination o
the end of Lock in Period.

SECTION 5. REIMBURSEMENTS

	a)	 	Lessee shall pay to Lessor, as Reimbursements hereunder, Lessee’s proportion of Operating
Expenses (as defined in Exhibit “E”), in the manner as set forth below. Lessor shall prepare a
report summarizing the actual expenditures by the Lessor for Operating

3

 

Expenses for the Demised Premises (such report, the “Operating Expenses Statement’). Lessee
shall pay the Reimbursements within Seven (7) days after Lessee’s receipt of the Operating
Expenses Statement.

	b)	 	If the provisions of any law now or hereafter imposes any tax, assessment, levy or other
charge directly upon (i) Lessor with respect to this Lease (ii) Lessee’s use occupancy of the
Demised Premises, or (iv) this transaction, except if and to the extent that such tax,
assessment, levy or other charge is or may be included in the Operating Expenses, Lessor and
Lessee shall discuss and mutually agree upon the sharing of any additional amount. Lessee
shall pay the mutually agreed to amount thereof as Reimbursements to Lessor upon written
demand.

	c)	 	Lessee shall pay to Lessor, as Reimbursements hereunder, expenses and costs described in
GTC-15, GTC-19, GTC-22, GTC-25 and GTC-30 of Exhibit ‘B’ or any other expenses and costs
incurred by Lessor on behalf of Lessee due to Lessee’s negligence or misconduct.

SECTION 6. ENTIRE AGREEMENT/SURVIVAL

This Lease, together with the Exhibits and any Addenda attached hereto, contain and embody the
entire agreement of the parties hereto, and no representations, inducements or agreements, oral or
otherwise, between the parties not contained in this Lease and Exhibits and Addenda, shall be of
any force or effect This Lease Deed shall supercede all prior deeds, agreements, and communications
both written and oral between the parties. This Lease Deed may not be modified or terminated by
Lessor or Lessee, other than by an agreement in writing signed by both parties hereto (“Addenda”).

SECTION 7. ORDER OF PRECEDENCE.

In the event of a conflict, contradiction or ambiguity between the terms and conditions of the body
of this Lease Deed and the General Terms & Conditions in Exhibit ‘B’, the terms of the body of this
Lease Deed shall prevail over the General Terms & Conditions in Exhibit ‘B’ and the relevant terms
and conditions described in the General Terms & Conditions in Exhibit ‘B’ shall be considered
inoperative for such period and to the extent that the terms and conditions of the body of this
Lease Deed conflict with or contradict the General Terms & Conditions in Exhibit ‘B’. In the event
of a conflict, contradiction or ambiguity between the conditions in the General Terms & Conditions
in Exhibit ‘B’ and the Special Terms & Conditions in Exhibit ‘C’, the Special Terms & Conditions in
Exhibit ‘C’ prevail over the Genera1 Terms & Conditions in Exhibit ‘B’ and the relevant terms and
conditions described in the General Terms & Conditions m Exhibit ‘B’ shall be considered
inoperative for such period and to the extent that the terms and conditions described in the
General Terms & Conditions in Exhibit ‘B’ conflict with or contradict specified in the Special
Terms & Conditions in Exhibit ‘C’, if applicable.

SECTION 8. APPLICABLE LAWS

This Lease shall be governed by and construed in accordance with the laws of India.

4

 

SECTION 9. PARTIAL INVALIDITY

If any provision of this Lease or the application thereof to any person or circumstances shall to
any extent be held void, unenforceable or invalid, then the remainder of this Lease or the
application of such provision to persons or circumstances other than those as to which it is held
void, unenforceable or invalid shall not be affected thereby, and each provision of this Lease
shall be valid and enforced to the full extent permitted by law.

SECTION 10. PRONOUNS

Feminine or neuter pronouns shall be substituted for those of the masculine form, and the plural
shall be substituted for the singular number,, in any place in which the context may require such
substitution.

SECTION 11. CAPTIONS AND SECTION NUMBERS

The captions, section numbers and index appearing in this Lease and the attached exhibits are for
convenience of reference only, and shall not be deemed to define, limit, describe, explain, modify
or amplify the interpretation or construction of any provision of this Lease.

IN WITNESS WHEREOF, Lessor and Lessee have read and understood this Lease along with the Exhibits
attached and have executed the same in duplicate under seal as of the day and year first above
written.

	 	 	 	 	 	 	 
	SPHERIS,
INDIA PRIVATE LIMITED

	 	VITP PRIVATE LIMITED
	 
	 	 	 	 	 	 
	By:

	 	/s/ Suresh Nair	 	By:	 	/s/ M. Bharani
	 

	 	 
	 	 	 	 
	Name:

	 	Suresh Nair	 	Name:	 	M. Bharani
	 

	 	 
	 	 	 	 
	Title:

	 	CEO and Managing Director	 	Title:	 	City Head
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ R. Krishnamoorthi	 	By:	 	/s/ Naveen Nachel
	 

	 	 
	 	 	 	 
	Name:

	 	R. Krishnamoorthi	 	Name:	 	Naveen Nachel
	 

	 	 
	 	 	 	 
	Title:

	 	Manager-Accounts	 	Title:	 	Legal-Ascendas
	 

	 	 
	 	 	 	 

	 	 	 	 	 	 	 
	By:	 	/s/ Mahesh Chandra	 	By:	 	/s/ Malathi
	 

	 	 
	 	 	 	 
	Name:	 	Mahesh Chandra	 	Name:	 	Malathi
	 

	 	 
	 	 	 	 
	Title:

	 	Lawyer	 	Title:	 	Customer Services
	 

	 	 
	 	 	 	 

5

 

EXHIBIT “A”

LEASE DEED BETWEEN

VITP PRIVATE LIMITED (LESSOR)

AND

SPHERIS INDIA PRIVATE LIMITED (LESSEE)

DEFINITIONS

As used in the Lease Deed between VITP PRIVATE LIMITED as Lessor, and SPHERIS INDIA PRIVATE LIMITED
as Lessee, the capitalized terms have the following meanings:

“Alterations” shall have the meaning ascribed thereto in GTC-19(a) of Exhibit ‘B’.

“Another Lessee” shall mean any person or entity leasing and/or occupying a portion of the Land or
one or more of the Buildings or portions thereof

“Applicable Law” shall mean all local, state, and federal statutes, acts, codes, ordinances, rules,
regulations, or orders applicable to the Property or any portion thereof or the conduct of Lessee’s
business, as the case may be.

“Base Rent” shall have the meaning ascribed thereto in Section 4(a) of the Lease Deed.

“Building” shall have the meaning ascribed to it in Exhibit “D”.

“Campus” shall have the same meaning as the Property.

“Common Area Maintenance” shall mean the common area maintenance to be provided by Lessor with
respect to the areas of the Property that are not a part of the Demised Premises or in space for
the exclusive use and occupancy of Another Lessee.

“Demised Premises” shall have the meaning ascribed to in Exhibit “D”.

“Financial Year” shall mean period of twelve (12) months commencing on the first day of April in a
calendar year and ending on the thirty first day of March in the next calendar year.

“Hazardous Materials” shall mean any hazardous or toxic substance, material or waste which is or
becomes regulated by any local governmental authority, the State of Andhra Pradesh, Municipality of
Serilingampally or the Government of India including without limitation, any material or substance
which is (i) defined or listed as a “hazardous waste,” “extremely hazardous waste,” “restricted
hazardous waste,” “hazardous substance,” or “hazardous material” under any applicable federal,
state or local law or administrative code promulgated thereunder, (ii) petroleum or any derivative
thereof, (iii) asbestos, (iv) PCB’s, or (v) lead.

“Impositions” shall mean and include: (i) taxes, excises and levies on all personal property owned
by Lessor and used in the maintenance and operation of the Property; (ii) real estate taxes

 

 

and assessments, general or special, imposed on the Property; (iii) any taxes, excises and levies
in addition thereto or in substitution thereof imposed by reason of the ownership, leasing,
operation or occupancy of the Property, and incurred by Lessor, any tax against Lessor on rent from
the Property (excluding (x) all federal, state, municipal or other local income and excess profits
taxes, and (y) all franchise, capital stock, estate and inheritance taxes), and license, inspection
and permit fees including costs and expenses incurred by Lessor in connection with any contest or
appeal of the amount thereof; (iv) any water service assessments and/or sewer rents which may be
assessed, levied confirmed, or imposed on or in respect of the Property; (v) service charges with
respect to police protection, fire protection, street and highway construction, maintenance and
lighting, sanitation and water supply; (vi) any fines, penalties and other similar or like
governmental charges applicable to the foregoing, together with any interest or costs with respect
to the foregoing; and (vii) any other governmental levies, fees, rents, assessments, taxes and
charges, general and special, ordinary and extraordinary, foreseen and unforeseen, of any kind and
nature whatsoever, together with any fines and penalties and any interest or costs with respect
thereto imposed upon the Property or relating to the operation and maintenance of the Property.

“Land” shall mean the real properly described on Exhibit ‘D’ attached hereto.

“Lessor’s Work” shall mean such modifications and alterations to the Demised Premises mutually
agreed upon in writing by both parties.

“Lease Commencement Date” shall have the meaning ascribed thereto in Section 3(a) of the Lease
Deed.

“Notice Period” shall have the meaning ascribed thereto in Section 3(d).

“Office Space” shall have the same meaning as the Demised Premises.

“Operating Expenses” shall have the meaning ascribed thereto in Section 5(a).

“Operating Expense Statement” shall have the meaning ascribed thereto in Section 5(a).

“Property” shall mean the Land, Buildings, Site Improvements and all other structures, facilities
and equipment thereon that is not the property of Lessee or Another Lessee.

“Reimbursements” shall have the meaning ascribed thereto in GTC-13 of Exhibit ‘B’.

“Rent” shall collectively refer to the components of the Rent set forth in Section 4(a), 4(c), 4(d)
and 4(d) of the Lease.

“Rules and Regulations” shall have the meaning ascribed thereto in Exhibit ‘B’ or any other Rules
and Regulations that is framed by Lessor from time to time.

“Security Services” shall have the meaning ascribed thereto in GTC-3(a)(1) of Exhibit ‘B’.

“Site Improvements” shall mean all future enhancements and improvements inside and/or outside the
Buildings and on the Property appur Lessee to the Buildings.

 

 

“Supplementary Air Conditioning System” shall mean air conditioning system other than that provided
by Lessor under GTC-1 and GTC-7 of Exhibit ‘B’.

“Lessee’s Proportion” shall be calculated as follows:

“Area of the Demised Premises as described in Exhibit ‘D’ (25875 square feet) / Total Area of
Property (359,554) square feet)

“Term” shall have the meaning ascribed thereto in Section 3(b).

“Working Days” shall have the meaning as ascribed thereto in GTC-7(b) of Exhibit “B”.

“The V” shall mean the name of the Park in which the Building forms the part and parcel of the
Property.

 

 

GENERAL TERMS & CONDITIONS

TABLE OF CONTENTS

	 	 	 	 	 
	FACILITIES & AMENITIES
	 	 	1	 
	GTC-1: FACILITIES & AMENITIES TO BE PROVIDED BY LESSOR
	 	 	1	 
	GTC-2: FACILITIES, AMENITIES, EQUIPMENT AND FIXTURES
TO BE PROVIDED BY LESSEE
	 	 	2	 
	GTC-3: MAINTENANCE
	 	 	2	 
	GTC-4: ELECTRICITY
	 	 	3	 
	GTC-5: WATER
	 	 	4	 
	GTC-6: DIESEL GENERATOR SET
	 	 	4	 
	GTC-7: AIR CONDITIONING
	 	 	5	 
	GTC-8: CAFETERIA
	 	 	5	 
	GTC-9: PARKING
	 	 	5	 
	GTC-10: SUSPENSION OF FACILITIES
	 	 	6	 
	 
	 	 	 	 
	RENTS, REIMBURSEMENTS, TERM & TERMINATION
	 	 	6	 
	GTC-11: TERM & TERMINATION
	 	 	6	 
	GTC-12: HOLDING OVER
	 	 	7	 
	GTC-13: RENT & REIMBURSEMENT
	 	 	7	 
	GTC-14: SURRENDER OF DEMISED PREMISES
	 	 	8	 
	 
	 	 	 	 
	RULES & REGULATION FOR USE OF PREMISES
	 	 	9	 
	GTC-15: USE OF PREMISES
	 	 	9	 
	GTC-16: RULES & REGULATIONS
	 	 	10	 
	GTC-17: ASSIGNMENT AND SUBLETTING
	 	 	11	 
	GTC-18: IMPROVEMENTS
	 	 	11	 
	GTC-19: ALTERATIONS
	 	 	11	 
	GTC-20: CONDITION OF DEMISED PREMISES
	 	 	13	 
	GTC-21: FURNITURE AND EQUIPMENT
	 	 	13	 
	GTC-22: REPAIRS AND INSPECTION
	 	 	13	 
	GTC-23: LESSEE’S INSURANCE
	 	 	14	 
	GTC-24: CHANGES TO BUILDING SYSTEMS/ LESSEE EQUIPMENT
	 	 	14	 
	GTC-25: DAMAGE TO PROPERTY
	 	 	14	 
	GTC-26: DAMAGE TO PERSONAL PROPERTY AND PERSON
	 	 	14	 
	GTC-27: FIRE AND OTHER CASUALTY DAMAGE TO
DEMISED PREMISES
	 	 	15	 
	 
	 	 	 	 
	MISCELLANEOUS
	 	 	15	 
	GTC-28: LESSOR’S COVENANTS
	 	 	15	 
	GTC-29: WAIVER OF SUBROGATION; INDEMNITY
	 	 	17	 
	GTC-30: DEFAULT OF LESSEE
	 	 	18	 
	GTC-31: WAIVER
	 	 	20	 
	GTC-32: CONDEMNATION
	 	 	20	 
	GTC-33: RIGHT OF LESSOR TO CURE LESSEE’S DEFAULT; LATE
PAYMENTS
	 	 	21	 
	GTC-34: NO REPRESENTATION BY LESSOR
	 	 	21	 

 

 

	 	 	 	 	 
	GTC-35: BROKERS
	 	 	21	 
	GTC-36: NOTICES
	 	 	21	 
	GTC-37: FINANCING REQUIREMENTS
	 	 	22	 
	GTC-38: PEACEFUL ENJOYMENT OF DEMISED PREMISES
	 	 	22	 
	GTC-39: SUCCESSORS AND ASSIGNS
	 	 	22	 
	GTC-40: NAME OF PROPERTY
	 	 	22	 
	GTC-41: SIGNS
	 	 	22	 
	GTC-42: EXONERATION
	 	 	23	 
	GTC-43: ARBITRATION
	 	 	23	 
	GTC-44: TIME OF THE ESSENCE
	 	 	23	 
	GTC-45: STAMP DUTY, REGISTRATION CHARGES AND
OTHER EXPENSES
	 	 	23	 
	GTC-46: NO PARTNERSHIP
	 	 	23	 
	GTC-48: AUTHORITY
	 	 	24	 

 

 

EXHIBIT “B”

TO LEASE DEED BETWEEN

VITP PRIVATE LIMITED (LESSOR)

AND

SPHERIS INDIA PRIVATE LIMITED (LESSEE)

GENERAL TERMS & CONDITIONS

FACILITIES & AMENITIES

GTC-1: FACILITIES & AMENITIES TO BE PROVIDED BY LESSOR

The Lessor agrees to provide the following amenities and facilities apart from the super built-up
areas described in Exhibit ‘D’ for which sums mentioned in Section 4(a), Section 4(b) and Section
4(c) of the Lease Deed shall be payable by the Lessee.

(a) Demised Premises with

Central Air-conditioning system from 5 x 280 TR Air-cooled screw chillers with ducting is
done in the Demised Premises upto and for plenum. (Subject to the conditions described in
GTC-7 of Exhibit ‘B’).

Raw power supply upto the floor distribution boards of the Demised Premises.

Functional Toilets

Building Management System (Air conditioning controls, Fire alarm control)

Fire escape staircases (external)

6 nos. 16-passengers Elevators & 1 Service Lift

(b) Other Utilities and amenities

33 KV Electrical Sub-station with 5 MVA connected load

100% power back-up with 4 x 1500 KVA synchronized Diesel Generating Sets

Sewerage Line

Complete Fire Fighting system with hydrants with single layer upright fire sprinkler system
inside the office area.

Parking for four-wheelers and two-wheelers (subject to the conditions described in GTC-9 of
Exhibit ‘B’)

 

 

GTC-2: FACILITIES, AMENITIES, EQUIPMENT AND FIXTURES TO BE PROVIDED BY LESSEE

Lessee understands and agrees to provide and install the facilities, amenities, equipment and
fixtures at his own cost in the Demised Premises described hereunder but not limited to:

(a) Computers, computer peripherals, computer hardware and consumables

(b) Network Switches and Local Area Network Equipment

(c) Servers or any other related hardware

(d) Satellite Link and related equipment

(e) UPS, EPABX and Telephone instruments

(f) The required fire dampers along with contactor / relay.

(g) Access Control systems for demised premises.

(h) Fire alarm system and downward sprinklers inside the demised premises

(i) Drinking water in the demised premises.

GTC-3: MAINTENANCE

	 	(a)	 	The following facilities Shall be provided by Lessor as part of the Maintenance
of the Campus for which the sum defined in Section 4(e) as Maintenance Charges shall be
payable by Lessee
	 
	 	(i)	 	Twenty-Four hour Security Guards at all entry and exit points from the Campus.
These security Guards shall perform routine checks for all inward and outward movement
of men, material and machinery.
	 
	 	(ii)	 	Housekeeping shall be carried out and limited to common areas (Lobbies,
Cafeteria and Other Common Areas) and cleaning facilities for external areas (Roads,
Pathways, parking areas, fountains & landscape gardens etc.). Lessee shall carry out
housekeeping in the Demised Premises.
	 
	 	(iii)	 	general pest and rodent control measures shall be carried out in the common
areas and around the Buildings. Lessee shall arrange for general pest and rodent
control activities in the Demised Premises.
	 
	 	(iv)	 	Civil Maintenance of the structures, roads and pathways shall be carried out
from time to time or as and when required to maintain them for regular use. Such
maintenance shall normally include waterproofing, painting, plastering, flooring,
plumbing etc. Any damages caused by the Lessee to Lessor’s building and equipment shall
be rectified by Lessee at his own cost. In the event Lessor

2

 

undertakes the rectification of such damages caused by Lessee, the cost of such
rectification shall be reimbursed by Lessee to be included in Reimbursements.

	 	(v)	 	Maintenance of all the Equipment provided by Lessor are part of facilities and
amenities in the Monthly Rent mentioned in this agreement. This includes preventive
maintenance, routine maintenance, annual maintenance, spares etc. Lessor will ensure
minimum breakdown of the equipment and restore the services at the earliest. Lessee is
in no way entitled to claim compensation for the time loss on account of machinery
failure.
	 
	 	(vi)	 	Lessee should allow the Lessor representative to carryout all the preventive
maintenance as and when required.
	 
	 	(vii)	 	Regular maintenance in respect of common electrical installations provided by
Lessor as part of facilities and amenities in the Rent. The work generally includes
replacement of electrical consumables, replacement of light fittings and consumables
etc. in common areas.
	 
	 	(b)	 	The Maintenance Charges for each month as determined in Exhibit ‘D’, shall be
payable by Lessee in advance on or before the tenth day working day of each calendar
month during the term of this lease.
	 
	 	(c)	 	Lessor reserves the right to review and revise Maintenance Charges from time to
time. Generally, Maintenance Charges shall be reviewed once in a Financial Year by
Lessor. Lessor shall review of the Maintenance Charges on a transparent basis and any
increase or decrease in the Maintenance Charges shall app1y to all occupants of the
Property. Lessor may revise and intimate to Lessee the revised Maintenance Charges and
the date on which such revision shall come into effect. Lessee agrees to pay such
revised Maintenance Charges at such terms intimated by Lessor.

GTC-4: ELECTRICITY

	 	(a)	 	5 MVA (2 x 2.5 MVA transformers) power supply shall be made available for the
entire Vega Block from the electric utility company. The Lessee shall be entitled to
power supply proportionate to the office areas allotted i.e. 1.1KVA / 100Sqft of
built-up area which includes A/C, Lighting, Lifts, UPS, and all common equipments of
the building Lessee shall provide a dedicated sub meter for the Demised Premises.
	 
	 	(b)	 	The necessary deposit and charges to provide the power supply connection shall
be borne by the Lessor. The Lessee will not be entitled to any income or a share of any
income that may be received on such deposits and charges. In the event Lessee requires
additional connected load beyond the load described above, the Lessee shall reimburse
the additional deposits and charges to the Lessor.
	 
	 	(c)	 	Lessee shall pay Lessor, monthly charges for electricity used in the Demised
Premises at a rate equal to the rate which Lessee would otherwise pay for such

3

 

service if the same were furnished to Lessee by the electric utility company
supplying electricity to the Property (“utility’s prevailing rate”). The supply of
electricity to Lessee will be governed by the separate sub-meters linked to the
master meter(s) of the Buildings. Wherever the common facilities electricity
consumption cannot be separately measured, then the total electricity costs shall be
Shared in proportion to the office area occupied by Lessee. Any deposit to be paid
to the utility company shall be the sole responsibility of Lessor.

GTC-5: WATER

	 	(a)	 	Adequate water supply will be made available by the Lessor from APIIC. In case
of disruption in water supply from the APIIC water shall be arranged by the Lessor from
alternate sources.
	 
	 	(b)	 	The necessary deposit and charges to provide the water supply connection shall
be borne by the Lessor. The Lessee will not be entitled to any income or a share of any
income that may be received on such deposits and charges.
	 
	 	(c)	 	The total expenditure incurred for water consumption will be reimbursable by
the Lessee to the Lessor in proportion to the office area occupied by the Lessee on
actuals and on production of bills in accordance with Exhibit E.

GTC-6: DIESEL GENERATOR SET

	 	(a)	 	The Lessor shall at his own cost provide 100% power back up by 4 x 1500 KVA DG
sets running in synchronization in case of power failure.
	 
	 	(b)	 	The total expenditure incurred on purchase of fuel for the DG Sets will be
reimbursable by the Lessee to the Lessor, to be included in Reimbursements, in
proportion to the Office Area occupied by the Lessee at actuals and in accordance with
Exhibit E.

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from original]

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	 	(f)	 	Lessee shall avoid haphazard parking of vehicles so as to not cause any damage
to either person or property of the occupants of the Campus. Lessee covenants and
agrees to indemnify Lessor and other Lessees for any liability or claims arising out
of such haphazard parking by Lessee or its employees.
	 
	 	(g)	 	Lessee understands and agrees that parking vehicles in the Campus will be at
the sole responsibility of the owner of the vehicle. Lessor shall not be responsible
for any theft or damages or any other liability arising out of parking of vehicles in
the Campus unless the said theft or damage can be solely attributable to the Lessor.

GTC-10: SUSPENSION OF FACILITIES

	 	(a)	 	Lessor may suspend, delay or discontinue providing any of the facilities to be
provided by Lessor wider this Lease whenever necessary by reason of fire, storm,
explosion, strike, lockout, labor dispute, casualty or accident, lack or failure of
sources of supply of fuel inability in the exercise of reasonable diligence to obtain
any required fuel), acts of God or the public enemy, interference by civil or military
authorities, compliance with the laws of the Government of India or with the laws,
orders or regulations of any other governmental authority, or by reason of any other
cause or emergency beyond Lessor’s control or at the request of Lessee. Lessor shall,
at its own cost, arrange to restore the facilities as soon as practicable. In the event
that the suspension, delay or discontinuity of any of the facilities under this clause
extends for a period of more than 2 months, the Lessee shall be entitled to immediately
and forthwith terminate the lease without any liability.
	 
	 	(b)	 	Lessor also reserves the right to temporarily suspend, delay or discontinue
furnishing any of the facilities to be provided by Lessor under this Lease, without any
liability to Lessee as a result thereof, for such inspections, cleaning, repairs,
replacements, alterations, improvements or renewals as may, in Lessor’s judgment, be
desirable or necessary to be made for enhancement of these facilities; provided, that
such facilities shall not, to the extent reasonably feasible, be suspended for such
purposes during Lessee’s normal business hours or unless Lessor shall, to the extent
reasonably possible under the circumstances, have given Lessee advance notice of any
proposed suspension of facilities. Lessor shall arrange to restore facilities as soon
as practicable at the expense of the Lessor.

RENTS, REIMBURSEMENTS, TERM & TERMINATION

GTC-11: TERM & TERMINATION

	 	(a)	 	In case the Lessee would like to extend the Lease beyond the term in Section
3(b) of the Lease Deed, then a fresh Lease Deed shall be executed and registered to
reflect the mutually agreed terms agreed upon by both parties.

	 	(b)	 	In the event the Lessee is not desirous of seeking extension of the Lease after
expiry of the Term then Lessee shall hand over the possession of the Demised

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Premises in reasonable good condition, excepting normal wear and tear. Lessee
clearly understands and agrees that the Demised Premises shall at all times be the
property of Lessor and shall not get transferred, at any time or at the end of the
term of this Lease, to Lessee.

	 	(c)	 	Lassie will be liable for all the monthly Rent, Charges and Reimbursements as
described in Section 4 of the Lease Deed during the notice period as described in
Section 3(d) of the Lease Deed or till such time Lessee has handed over possession of
Demised Premises as described in GTC- 11(b) hereinabove, whichever is later.

GTC-12: HOLDING OVER

If Lessee shall, without the prior written consent of Lessor, remain in the Demised Premises after
the expiration of the term of this Lease, then Lessee shall become a Lessee by the month, subject
to all of the terms and conditions of this Lease, at a monthly rental rate equal to one hundred
twenty percent (120%) of the greater of: (i) the then prevailing Rent, maintenance and other
reimbursement agreed by Lessee to be paid as aforesaid, or (ii) the prevailing market rate for
space comparable to the Demised Premises without taking into account any market rate Lessee
concessions (in addition to all other sums, costs and fees otherwise due and payable hereunder).
The said monthly tenancy shall commence with the first day next after the end of the term above
described. Lessee shall indemnify and hold harmless Lessor and its partners, and their respective
officers, directors, agents and employees, from and against any and all claims, losses, actions,
damages, liabilities and expenses (including reasonable attorneys’ fees) resulting from Lessee’s
hold-over of possession of the Demised Premises (including claims of prospective Lessees of all or
part of the Demised Premises).

GTC-13: RENT & REIMBURSEMENT

	 	(a)	 	The Rent and Charges described in Section 4 of the Lease Deed shall be payable
in advance on or before the tenth (10”) day of each calendar month during the term of
this Lease.
	 
	 	(b)	 	Except as provided in this Deed, the Lessee shall compensate Lessor for all
future taxes such as Service Tax, cesses, and property tax in connection with Lease and
other than corporate income Tax and wealth Tax shall be reimbursed by Lessee at actuals
as applicable and duties assessed or payable in respect of the Demised Property or this
Lease, in proportion to the area occupied by Lessee, to the Municipal Corporation or
any other government body or authority as shall become due from and payable by Lessee
to Lessor (collectively, “Reimbursements”). Unless otherwise specified herein, Lessee
shall pay Reimbursements within 7 (Seven) days of receipt of Lessor’s Statement of
Expense. The covenant to pay Rent shall be independent of any other covenant set forth
in this Lease. Lessor shall have the same remedies for default for the payment of
Reimbursements as are available to Lessor in the case of a default in the payment of
Rent.

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	 	(c)	 	If the Lease Commencement Date occurs on a day other than on the first day of a
month, rent from the Lease Commencement Date until the first day of the following month
shall be prorated at the rate of one-thirtieth (1/30) of the Rent, payable in advance
on the Lease Commencement Date.
	 
	 	(d)	 	The Rent, Charges and all Reimbursements shall be paid promptly when due, in
Indian Rupees, without notice or demand and without deduction, diminution, abatement,
counterclaim or set-off of any amount, other than withholding taxes. The Rent, Charges
and the Reimbursements shall be paid to Lessor at the following address: Plot # 17,
Software Units Layout, Madhapur, Hyderabad — 500 081, or at such other address or to
such other person as Lessor may designate by adequate written notice to Lessee from
time to time. If Lessor shall at any time accept Rent and/or Reimbursements after it
shall become due and payable, such acceptance shall not excuse delay upon subsequent
occasions, or constitute a waiver of Lessor’s rights hereunder. If Lessee makes any
payment to Lessor by cheque, the same shall be by cheque drawn by the Lessee only, and
Lessor shall not be required to accept a cheque drawn by any other person. Any cheque
received by Lessor shall be deemed received subject to collection.

GTC-14: SURRENDER OF DEMISED PREMISES

	 	(a)	 	Upon termination of this Lease by lapse of time or otherwise, Lessee shall
surrender the debonded Demised Premises to Lessor upon simultaneous refund of the
Deposit, in broom-clean condition and in good order and repair, except for ordinary
wear and tear and damage which Lessee is not obligated to repair, failing which Lessor
may restore Demised Premises to such condition at Lessee’s expense.

	 	(b)	 	That at the time of vacating the Demised Premises Lessee shall, at his own
cost, remove all additions, alterations, improvements and installations thereto
installed by Lessee, either permanent or temporary in nature. Lessee shall promptly
repair any damage caused by any such removal and shall restore the Demised Premises in
good order and condition reasonable wear and tear excepted, failing which Lessor may
restore Demised Premises to such condition at Lessee’s expense.

	 	(c)	 	Provided however, and it is hereby expressly agreed and understood that if
after the expiry or sooner determination of the Lease, Lessor is unable for any reason
whatsoever to refund the Deposit, Lessee shall be entitled to continue to use or occupy
the Demised Premises without payment of any Rent, Reimbursements or other charges until
the Deposit is refunded. Upon such termination, Lessee’s trade fixtures and furniture
shall remain Lessee’s property, and Lessee shall have the right prior to such
termination to remove the same. Lessee shall promptly repair any damage caused by any
such removal and shall restore the Demised Premises in good order and condition
reasonable wear and tear excepted. Lessee shall surrender the Demised Premises to
Lessor at the end of the Term without notice of any kind, and Lessee hereby waives all
right to any such notice as may be provided under any present or future law.

8

 

	 	(d)	 	That at the time of vacating the Demised Premises upon termination of the lease
or otherwise, Lessee shall deposit a sum equivalent to Three (3) months average
consumption charges with Lessor to meet the arrears of electricity, telephone, water
and all other dues required to be paid by Lessee under this Lease Deed to all the
concerned authorities including but not limited to local electricity/utility company,
Municipality, etc. The balance amount, if any, shall be returned to Lessee within Seven
(7) days of receipt of the last bill by Lessor. However, if Lessor has to pay any extra
amount over and above what Lessee had paid as advance deposit then Lessor shall inform
Lessee the details of such amount and Lessee shall reimburse such extra amount to
Lessor within Seven (7) days of such information.
	 
	 	(e)	 	That at the time of surrender of Demised Premises upon termination of the lease
or otherwise, Lessee shall, at his own cost. Lessee shall de-bond the Demised Premises
at his own cost and discharge all duties and taxes arising thereon and surrender the
de-bonded Demised Premises to Lessor.

RULES & REGULATION FOR USE OF PREMISES

GTC-15: USE OF PREMISES

	 	(a)	 	Lessee shall use and occupy the Demised Premises solely for general office
purposes and training of personnel and uses incident thereto as permitted under
applicable zoning regulations, and but for no other business or purpose.
	 
	 	(b)	 	Lessee shall comply with all present and future laws, statutes, ordinances,
regulations, and requirements of any and all governmental authorities and with the
Rules and Regulations of Exhibit ‘B’ hereof.
	 
	 	(c)	 	Except for ordinary supplies and materials reasonably related to Lessee’s
permitted uses set forth in GTC-15(a) hereof, Lessee shall not cause or permit any
Hazardous Materials (as defined in Exhibit ‘A’) to be brought upon, stored, used,
handled, generated, released or disposed of on, in, under or about the Demised
Premises, the Buildings, or other part of the Property or any portion thereof by
Lessee, its agents, employees, sub Lessees, assignees, contractors, or invitees. Lessee
agrees to indemnify, defend and hold Lessor and its officers, directors, agents,
employees, advisors, attorneys and affiliates harmless from any and all claims,
actions, administrative proceedings judgments, damages, penalties, fines, costs,
liabilities, interest or losses, reasonable attorney’s fees and expenses, consultant
fees, and expert fees, costs of investigation, monitoring, cleanup, containment,
restoration, removal or other remedial work, together with all other costs and expenses
of any kind or nature that arise during or after the term of the Lease from any
Hazardous Materials permitted on the Demised Premises pursuant to this GTC-l5(d) or
from any breach of Lessee’s obligations set forth in GTC-15(c); provided that the
foregoing indemnification shall not apply to any Hazardous Materials which another
Lessee or Lessor or any of its agents,

9

 

representatives or contractors brings, stores, uses, handles, generates, releases or
disposes of in, on, under or about the Buildings, the Land or any portion thereof.

	 	(d)	 	Lessee shall not commit or allow to be committed any waste upon the Demised
Premises or elsewhere on the Property, or any public or private nuisance or other act
or thing which disturbs the quiet enjoyment of Another Lessee, and Lessee shall not,
without the prior written consent of Lessor, use any apparatus, machinery or device in
or about the Demised Premises which will cause any substantial noise or vibration or
fumes.
	 
	 	(e)	 	Lessee shall, at its expense, keep the Demised Premises and all improvements,
fixtures and other property contained therein in a neat, clean, safe and sanitary
condition, and in good order and repair, reasonable wear and tear excepted, and will
surrender the Demised Premises at the expiration or other termination of the term of
this Lease in good order and condition, ordinary wear and tear, and casualties and
damages caused by the elements, fire and other insured casualty excepted.

GTC-16: RULES & REGULATIONS

	 	(a)	 	Lessee, its employees, agents, invitees, contractors and subcontractors shall
observe and strictly comply with the Rules and Regulations follows (but not limited to)
and with such other and further reasonable rules and regulations as Lessor may, after
notice to Lessee, from time to time adopt. Lessor shall include in leases of space in
Buildings a similar requirement obligating Lessees to comply with rules and regulations
adopted by Lessor. Lessor shall exercise its best efforts to enforce said rules and
regulations, to the extent applicable, and to enforce the terms, covenants or
conditions in any other lease against any other Lessee; provided, however, that Lessor
shall not be liable to Lessee for violation of the same by any other Lessee, its
servants, employees, agents, invitees or licensees.

The facilities extended by the Lessor will be available 24X7, 365 days a year. In case the
Lessee requires to work on Saturdays, Sundays & holidays, the Lessee shall pay additional
charges for usage of the facilities beyond the normal hours as follows:

If the Lessee uses additional Air conditioning beyond normal hours lessee shall pay Rs.4/per
unit as current charges on actual consumption plus Rs.250/per hour for actual additional
hours. Apart from above no additional charges for any other facilities shall be charged.

	 	(b)	 	The air-conditioning plant and emergency power (DG sets) will be available all
days including Sundays & all public holidays.
	 
	 	(c)	 	Elevator will be available on all days including Sundays & holidays except
during preventive maintenance period.
	 
	 	(d)	 	Walking / trespassing through the Demised Premises of another Lessee should be
avoided.

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	 	(e)	 	The common utility areas, i.e., electrical sub-station, DG Room, AHU Rooms,
Sewerage Treatment Plant and other utility areas, will be restricted areas. Lessee, its
officers, directors, agents, employees, advisors, attorneys and affiliates should avoid
unauthorized entry or access to such areas.
	 
	 	(f)	 	The maintenance facilities provided by Lessor are for the general maintenance
of the Campus. Lessee shall not utilize the maintenance facilities for any of his
personal work.
	 
	 	(g)	 	General rules and regulations for proper administration of the Campus shall be
drafted by Lessor from time to time and shall be binding on the Lessee and their
representatives, nominees and assignees.
	 
	 	(h)	 	Lessees will permit the Security & Maintenance staff deputed by lessee for all
preventive maintenance works & complaint related activities, regular checkup as and
when required subject to them providing reasonable prior notice to the Lessee and
provided that the security and maintenance staff abide by Lessee’s access control and
security measures.
	 
	 	(i)	 	Lessee will permit the Lessor or its representative to carry out the regular
inspections of the Demised Premises subject to the Lessor providing Lessee with
reasonable prior written notice for such inspection and subject to the Lessor or its
representative abiding by the Lessee’s access control and security measures.

GTC-17: ASSIGNMENT AND SUBLETTING

Lessee shall not assign, sublease, transfer or encumber this Lease or the Demised Premises, or any
part thereof to any third party except for sharing Demised premises with any of its
subsidiaries/affiliates or any entity belonging to Lessee group of Companies with prior written
approval of Lessor which approval shall not be unreasonably withheld.

GTC-18: IMPROVEMENTS

Lessee does accept the Demised Premises in “as is” condition, subject to the improvement of the
Demised Premises by Lessor as mutually agreed upon in writing by both parties (“Lessor’s Work”).
Lessor shall cause the Lessor’s Work to be accomplished at its expense. It is understood and agreed
that Lessor is under no obligation to accomplish or to cause to be accomplished, any construction,
improvements, alterations, decorations, or similar matter prior to the Lease Commencement Date
except as set forth in this Section.

GTC-19: ALTERATIONS

	 	(a)	 	Lessee shall not make or permit anyone to make any alterations, additions,
improvements, installations or other changes of a permanent or structural nature in or
to the Demised Premises (collectively, “Alterations”) without the prior written consent
of Lessor in each and every instance and consent shall not be unreasonably withheld.
Failure of Lessee to obtain and comply with the terms and conditions of such consent
shall constitute a default hereunder. If any Alterations

11

 

are made without the prior written consent of Lessor, Lessor may correct or remove
the same, and Lessee shall be liable for any and all expenses incurred by Lessor in
this respect, as Reimbursements. In such event, Lessee shall also be solely liable
for consequential losses caused to Another Lessee and/or to Lessor.

	 	(b)	 	When performing any Alterations permitted under the provisions of GTC-19(a)
hereof, Lessee shall comply with the following conditions and shall undertake the
following obligations. At least thirty (30) days before any Alterations work is done or
any materials are delivered, Lessee shall provide Lessor with plans, specifications,
names and addresses of all contractors and sub-contractors and copies of all contracts,
necessary approvals and permits. All Alterations, improvements and installations shall
conform with the requirement of all insurance policies of the parties hereto, and with
all applicable laws, statutes, ordinances, regulations and rules of all governmental
authorities. Lessee agrees to permit Lessor to supervise all such work, which shall be
performed so as not to interfere with or impair the use and enjoyment of any portion of
the Property used or occupied by Lessor or Another Lessee. Any Alterations by Lessee
shall be at Lessee’s sole cost and expense and shall be performed by properly licensed
and bonded contractors approved by Lessor, which such approval shall not be
unreasonably withheld, but shall be based upon such contractors’ financial condition,
experience and previous job performance. Any such contractors shall also be required to
waive in writing any rights they may have to file any and all mechanic’s and
material-men’s liens against the Demised Premises prior to commencing any work. Lessor
or its agents shall be entitled to reimbursement of all expenses and costs in actuals
that are spent in connection with any Alterations or work performed by Lessor or its
agents at the request of Lessee. Spheris to comment.

	 	(c)	 	In the event any mechanic’s or material-men’s lien is filed against the Demised
Premises and/or any other part of the Property for work claimed to have been done for,
or materials claimed to have been furnished to Lessee, such lien shall be discharged by
Lessee within ten (10) days thereafter, at Lessee’s sole cost and expense, by the
payment thereof or by filing any bond required by law. If Lessee shall fail to
discharge any such mechanic’s or material-men’s lien, Lessor may discharge the same and
treat the cost thereof as Reimbursements payable with the monthly installment of rent
next becoming due; provided that such discharge by Lessor shall not be deemed to waive
or release the default of Lessee in not discharging the same. Lessee promptly will
indemnify and hold harmless Lessor from and against any and all claims, damages and
expenses incurred by Lessor, arising from any liens placed against the Demised
Premises, the Property, or any part thereof. This indemnity shall survive any
termination or expiration of this Lease.

	 	(d)	 	All Alterations of a permanent and structural nature, (including, without
limitation, Lessor’s Work), made by Lessor at his expense, shall become and remain the
property of Lessor. All Alterations of a permanent and structural nature

12

 

made by Lessee at his expense, shall become and remain the property of Lessee
subject to the provisions of GTC-14 of Exhibit ‘B’.

GTC-20: CONDITION OF DEMISED PREMISES

Lessee acknowledges and agrees that, except as expressly set forth in this Lease, there have been
no representations or warranties made by or on behalf of Lessor with respect to the Demised
Premises or the Property with respect to the suitability thereof for the conduct of Lessee’s
business. The taking of possession of the Demised Premises by Lessee shall conclusively establish
that the Demised Premises are in satisfactory condition, order and repair.

GTC-21: FURNITURE AND EQUIPMENT

A typical floor in the building is designed for a floor loading capacity of 350 kgs per square
meter. Lessee shall not be allowed to exceed the floor loading limit in the Demised Premises. All
damage done to the Demised Premises or the Property by taking in or removing a safe or any other
article of Lessee’s office freight, furniture, or equipment, or due to its being in the Demised
Premises, shall be repaired at the expense of Lessee.

GTC-22: REPAIRS AND INSPECTION

	 	(a)	 	Lessee shall after receiving prior written notice, permit Lessor, its
employees, agents, contractors, and representatives, to enter the Property, the
Buildings, and the Demised Premises at reasonable times and in a reasonable manner to
inspect and protect the same, and to make such alterations or repairs as Lessor may
deem necessary subject to Lessee’s access control and security measures., or to exhibit
the same to prospective purchasers. In the event of an emergency, Lessor may enter the
Property and any part thereof with a shorter notice and make whatever repairs are
necessary to protect the same; provided, however, that Lessor is required and shall act
carefully and reasonably when exercising any right of access to the Demised Property
and ensure that any repairs or inspection undertaken by Lessor shall not interfere with
the business of Lessee. Lessor shall use reasonable efforts to minimize interference to
Lessee’s business when making repairs, but Lessor shall not be required to perform such
repairs at a time other than during normal working hours. There shall be no abatement
of Rent and no liability by reason of any injury or inconvenience to or interference
with Lessee’s business arising from the making of any repairs, alterations or
improvements in or to any portion of the Property, unless caused by the gross
negligence or willful misconduct by Lessor, its agents, contractors, representatives or
employees.

	 	(b)	 	Lessee shall take good care of the Demised Premises and the fixtures and
appurtenances therein. Lessee shall, at its expense, repair all damage thereto and any
fixtures and equipment therein and otherwise to the Property to Lessor’s reasonable
satisfaction caused directly or indirectly by Lessee, its employees, agents, invitees,
licensees, subLessees, or contractors. If Lessee fails to make such repairs, the same
may be made by Lessor and the expense thereof shall be deemed

13

 

Reimbursements due and payable by Lessee within fifteen (15) days after the sending
of a statement thereof by Lessor to Lessee.

GTC-23: LESSEE’S INSURANCE

During the term of the Lease, Lessee shall, at its expense, insure its own personal property in the
Demised Premises.

GTC-24: CHANGES TO BUILDING SYSTEMS/ LESSEE EQUIPMENT

	 	(a)	 	The design, installation, operation, maintenance and repair of the fixtures and
equipment installed in the Demised Premises whether by Lessee or by Lessor on behalf of
Lessee, shall be the responsibility of Lessee, and Lessor shall have no obligation in
connection therewith.

	 	(b)	 	Lessee shall not install any equipment of any kind or nature whatsoever in the
Demised Premises which will or may necessitate any change, replacement or addition to,
or in the use of, the electrical system, water system, heating system, plumbing system,
air conditioning system, or any other system of the Building without first obtaining
the prior written consent of the Lessor which consent shall not be unreasonably
withheld.

GTC-25: DAMAGE TO PROPERTY

All injury, breakage or damage to the Demised Premises, the Buildings, the Property, or any part
thereof caused by or arising from any willful negligence of Lessee, its agents, employees,
contractors, servants, permitted sub Lessees or assignees, invitees, or licensees, or by persons or
individuals making deliveries to or from the Demised Premises, shall be repaired by Lessee at the
sole expense of Lessee. In the event that Lessee shall fail to do so, then Lessee shall have the
right to make such necessary repairs, alterations and replacements (structural and nonstructural)
and any cost incurred by Lessor shall be paid by Lessee as Reimbursements, payable with the
installment of rent next becoming due under this Lease This provision shall be construed as an
additional remedy granted to Lessor and not in limitation of any other rights and remedies which
Lessor may have in said circumstances.

GTC-26: DAMAGE TO PERSONAL PROPERTY AND PERSON

	 	(a)	 	All property of Lessee, its agents, employees, contractors, servants, invitees,
or of any other person, in or on the Demised Premises, the Buildings, the Property, or
any part thereof, shall be at the sole risk of Lessee or such other person or party.
Lessor shall not be liable to Lessee or any such person or party for any damage to or
theft or loss of such property whether or not caused by the act (including theft) or
failure to act of any person except where the same is solely attributable to the
Lessor.

	 	(b)	 	As and As and when Lessee becomes aware of any such situations like leaking of
any roof, or other part of the Demised Premises, the Buildings, the Property, or any
part thereof, or by the bursting, leaking or overflowing of water, sewer, steam

14

 

or sprinkler pipes, or heating or plumbing fixtures, air conditioning or heating
failure, gas, noxious odors or noise, or any other act or thing, including the
malfunction of electrical wires or fixtures or security and protective systems, it
should immediately and promptly inform Lessor about the same and Lessor shall attend
to it as part of its covenant as enumerated in GTC-28(a).

	 	(c)	 	However, Lessor shall not under any circumstances be liable for the
interruption of or any loss to Lessee’s business that may result from any of the acts
or causes described above.

	 	(d)	 	Lessor shall not be liable for any injury to Lessee, its agents, employees,
contractors, servants, invitees, permitted subLessees or assignees, or licensees, or to
any other person, arising from the use, occupancy or condition of the Demised Premises,
the Buildings, or the Property other than liability for personal injuries resulting
directly from the negligence or misconduct of Lessor, and then such liabilities shall
be subject to the release set forth in GTC-29(a).

GTC-27: FIRE AND OTHER CASUALTY DAMAGE TO DEMISED PREMISES

If the Demised Premises shall be damaged by fire or other casualty Lessor shall as soon as
practicable after such damage occurs (taking into account the time necessary to effectuate a
satisfactory settlement with any insurance company) repair such damage at the expense of Lessor,
and the Rent payable by Lessee hereunder shall be reduced in proportion to the gross floor area of
the Demised Premises which is unusable by Lessee, as reasonably determined by Lessor, until such
repairs are completed; provided, however, that Lessor shall only be required to repair or rebuild
items comprising the facilities and amenities to be provided by Lessor as described in Exhibit ‘B’
and any additional improvements shall be made at Lessee’s sole cost and expense, and provided
further, that any policy of insurance maintained by Lessor will not be invalidated in whole or in
part by reason of such abatement of such damage which shall have been caused by Lessee or any of
its agents, representatives, employees or invitees.

MISCELLANEOUS

GTC-28: LESSOR’S COVENANTS

Lessor hereby covenants with Lessee that

	 	(a)	 	Lessor has good title and is the absolute owner of the Demised Premises and it
has the full right, absolute power and authority to deal with the Demised Premises and
to grant a lease in respect of the Demised Premises upon such terms as it deems fit,
free from all claims and encumbrances. In the event there being any defect or
deficiency or inadequacy in Lessor’s right to execute this Lease, Lessor undertakes to
indemnify Lessee against all consequences arising there from including damages, losses,
costs or any other claims/actions, or proceedings by others in respect of quiet and
peaceful use, occupation and possession of the Demised Premises.

15

 

	 	(b)	 	The Demised Premises can be used for general office purposes as a bonded area
for an export only unit.
	 
	 	(c)	 	The Demised Premises is free from all encumbrances, charges and liens
whatsoever and Lessor has not entered into any similar agreement or arrangement with
any person/persons for providing use and occupation of the Demised Premises to which
Lessee is entitled to under this Lease.
	 
	 	(d)	 	Lessor has obtained all requisite statutory and other approvals from
governmental/local authorities, if any, to let out the Demised Premises for the
purposes of Lessee and that the Demised Premises is fit for use of Lessee for its
business, and Lessor has obtained all necessary governmental approvals and permits for
the use of the Demised Premises by Lessee.
	 
	 	(e)	 	Lessor has paid and shall pay and discharge all existing and future taxes,
rates, cesses, duties, charges, levies, fines, penalties, and other outgoings that may
be levied, imposed or charged in respect of the Demised Premises and existing and
future surcharges, and the Municipal Corporation tax. If there is any default in
payment of taxes etc. Lessee is entitled to make the payments and recover the same from
Lessor. Any such amount to be paid by Lessee will be adjusted against the Maintenance
Charges Lessee has to pay to Lessor as mentioned in Section 4(e).
	 
	 	(f)	 	Lessor shall maintain the Demised Premises in good Lesseeable condition and
execute at its expense all structural repairs to the Demised Premises and maintain the
Demised Premises in habitable condition for the use and enjoyment of Lessee.
	 
	 	(g)	 	In case of any legal problem pertaining to the Demised Premises or for using or
occupying of same for office by the Lessee, the total liability will be that of Lessor.
If due to any such problem the Demised Premises or any part thereof cannot be used by
Lessee, then Lessee will not be liable to make any payment for the period the Demised
Premises remained unused. However, such legal problem should not arise out of any act
or omission on part of Lessee. In that case Lessor shall not have any liability
whatsoever towards Lessee.
	 
	 	(h)	 	Lessor is free to dispose of or encumber its interest in the Demised Premises
whether by way of sale, transfer, charge, mortgage, or otherwise, with prior intimation
to Lessee. In the event Lessor disposes of or encumbers its interest in the Demised
Premises in any manner whatsoever, Lessor covenants to obtain an unconditional written
acknowledgement from the transferee/mortgagee/charge, as the case may be, to be bound
by the terms and conditions of this Lease Deed. In the event of a transfer of the
rights of Lessor, Lessor shall in addition obtain a written confirmation that the
transferee shall fully assume the obligations and covenants herein on the part of
Lessor to be performed.

16

 

	 	(i)	 	Lessor shall maintain insurance for the Property, the Demised Premises and the
fittings, interior and fixtures within the Demised Premises insuring the Lessor’s
interest in such property in the event of fire, casualty or other loss and damage.

GTC-29: WAIVER OF SUBROGATION; INDEMNITY

	 	(a)	 	Except as otherwise set forth in this Lease, Lessor and Lessee hereby release
each other from any loss, damage or liability sustained, but only to the extent of any
insurance proceeds actually received by the releasing party on account of any such
loss, damage or liability. Such release shall be effective notwithstanding that any
such loss, damage or liability arose out of the negligent or intentionally tortuous act
or omission of the other party, its agents or employees; provided that inch release
shall be effective only with respect to any loss or damage occurring during such time.
as the appropriate policy of insurance of the releasing party provides that such
release shall not impair the effectiveness of such policy or the insured’s ability to
recover thereunder. Both Lessor and Lessee shall include in their respective insurance
policies a clause to such effect, and shall promptly notify the other in writing if
such clause cannot be included in any such policy.
	 
	 	(b)	 	Each party shall be responsible for, and shall indemnify and hold the other
harmless from and against all liability arising out of any injury to or death of any
person or loss of or damage to any property sustained or occurring in, on, or about the
Demised Premises as a result of willful negligence of the other party. In the event
that Lessor or its agents or employees shall, without fault on its part, be made a
party to any litigation relating to Lessee or the Demised Premises, Lessee shall
indemnify and hold Lessor harmless from and shall pay all costs, expenses and
reasonable attorneys’ fees incurred or paid in connection with such litigation. Lessee
shall promptly pay, satisfy and discharge any and all judgments, orders and decrees,
which may be recovered against Lessor in connection with the foregoing.
	 
	 	(c)	 	In the event of the Lessee incurring any liability arising out of GTC-15 of
Exhibit ‘B’ (Use of Premises) or any activity on the Demised Premises, Lessee shall
indemnify Lessor against any, or all, such liabilities which might be directed towards
Lessor arising out of Court Orders/ Government Notices/ any or all claims, actions by
statutory authorities for such demised premises. In the event of such liability
(Government Notices/ any or all claims, actions by statutory authorities) not being
indemnified by Lessee as provided in this Section, it would constitute a default by
Lessee and attract provisions of GTC-30 of Exhibit ‘B’ (Default of Lessee). In the
event of Lessor incurring any liability arising out of GTC-28 of Exhibit ‘B’ (Covenants
of Lessor) or any other obligation of Lessor under the Lease, Lessor shall indemnify
Lessee against any, or all, such liabilities which might be directed towards Lessee
arising out of Court Orders/ Government Notices/ any or all claims, actions by
statutory authorities for such Demised Premises. In the event of such liability
(Government Notices/ any or all claims, actions by statutory authorities) not being
indemnified by Lessor as provided in this Section, it would constitute a breach by
Lessor and Lessee shall be entitled to

17

 

recover the amounts by deducting it from the Rent and any such other amount payable
terminate the Lease with immediate effect.

	 	(d)	 	The Lessor shall defend, indemnify and hold harmless the Lessee from and
against any claim, liability, demand, loss, damage, judgment or other obligation or
right of action, which may arise as a result of
	 
	 	(i)	 	breach of any of the representations and warranties provided in this Deed by
the Lessor;
	 
	 	(ii)	 	misrepresentation by the Lessor;
	 
	 	(iii)	 	Breach of any of the provisions of this lease by the Lessor.
	 
	 	(e)	 	Lessor shall keep the Lessee indemnified against all claims including, demands,
governmental actions, charges, suit, litigations, proceedings, penalties, losses
including but not limited to business losses, costs, charges, consequences, damages and
dispossession of the Premises that Lessee may incur or suffer due to the non-issuance
of the Occupancy Certificate for the Premises. Lessor further covenants that in the
event of dispossession of the Premises or in the event Lessee is prevented from using
the Premises, due to non issuance of the occupancy certificate, Lessor shall reimburse
Lessee for all capital expenditure incurred by Lessee in relation to the Premises
including but not limited to the cost of fitting out the Premises and all expenses
involved in moving to an alternate location. In such an event Lessor shall take the
possession and ownership of all equipment and material cost of which has been
reimbursed by the Lessor.

GTC-30: DEFAULT OF LESSEE

I) The following events shall be a default (“Default”) of Lessee under this Lease:

	 	(i)	 	Failure of Lessee to pay Rents and Reimbursements for a continuous period of 2
months after same shall be due and payable,
	 
	 	(ii)	 	Failure of Lessee to perform, observe, or comply with any term, covenant,
condition, agreement or provision of this Lease to be performed, observed or complied
with by Lessee, other than as set forth in GTC-30(a)(i) above, where such failure shall
continue for a period of Thirty (30) days after written notice thereof has been
delivered by Lessor to Lessee at the Demised Premises; or
	 
	 	(iii)	 	The taking of this Lease or the Demised Premises, or any part thereof, upon
execution or by other process of law directed against Lessee, or upon or subject to any
attachment at the instance of any creditor of or claimant against Lessee, which shall
not be discharged or disposed of within thirty (30) days after the levy thereof; or
	 
	 	(iv)	 	The involvement of Lessee in financial difficulties as evidenced by: (a) its
admitting in writing its inability to pay its debts generally as they become due, or

18

 

(b) its filing a petition in bankruptcy under the Provincial Insolvency Act (as now
existing or in the future amended), or (c) its filing a petition seeking to take
advantage of any other law relating to bankruptcy, insolvency, or winding-up (“Other
Bankruptcy Laws”), or (d) its making an assignment of all or a substantial part of
its property for the benefit of its creditors, or (e) its seeking or consenting to
or acquiescing in the appointment of a receiver or trustee for all or a substantial
part of the Demised Premises, or (f) its being adjudicated a bankrupt or insolvent,
or (g) the entry of a court order without its consent, which order shall not be
vacated or stayed within thirty (30) days from the date of entry, approving a
petition filed against it for an arrangement in bankruptcy.

	 	(a)	 	Upon occurrence of any of the default events set out in sub-clause (a), Lessor
shall give Lessee a written notice of the nature of the default.
	 
	 	(b)	 	Upon receipt of the notice of default, Lessee shall be entitled to remedy the
default within a period of 30 days.
	 
	 	(c)	 	Upon the expiry of the cure period, Lessor shall have the right then or at any
time thereafter to give Lessee written notice of thirty (30) days of Lessor’s intent to
terminate this lease.

Lessee’s right to possession of the Demised Premises shall cease and this lease shall
thereupon terminate. Subject to the above, any notice to vacate or notice of Lessor’s
intention to re-enter is being hereby expressly waived by Lessee.

	 	(d)	 	The provisions of this Section GTC-30 of Exhibit ‘B’ shall apply
notwithstanding the continued willingness and ability of Lessee to pay Rent and
otherwise perform hereunder. The receipt by Lessor of payments of Rent, as such,
accruing subsequent to the time of Lessee’s default under this Section GTC-30(e) of
Exhibit ‘B’ and before Lessor has actual notice of the occurrence of an event of
default under this Section GTC-30(e) of Exhibit ‘B’ shall not be deemed a waiver by
Lessor of the provisions of this Section.
	 
	 	(e)	 	If Lessor terminates this Lease or enters and takes possession of the Demised
Premises pursuant to GTC-30(c) of Exhibit ‘B’ above, Lessee shall remain liable (in
addition to accrued liabilities) for adjusted Rent, Reimbursements and any other sums
provided for in this Lease until the date of such termination.
	 
	 	(f)	 	Lessee on behalf of itself and all persons claiming through Lessee, including
all creditors, does hereby waive any and all rights and privileges, so far as is
permitted by law, which Lessee and all such persons might otherwise have under any
present or future law: (1) to the service of any notice of intention to reenter, (2) to
reenter or repossess the Demised Premises, or (3) to restore the operation of this
Lease, with respect to any dispossession of Lessee by judgment or warrant of any court,
whether such dispossession, reentry, expiration or termination be by operation of law
or pursuant to the provisions of this Lease.

19

 

	 	(g)	 	In the event of any breach or threatened breach by either party of any of the
provisions contained in this Lease, the other party shall be entitled to enjoin such
breach or threatened breach and to invoke any right or remedy allowed at law, equity or
otherwise as if reentry, summary proceedings or other specific remedies were not
provided in this Lease.
	 
	 	(h)	 	All rights and remedies of the parties under this Lease shall be cumulative and
shall not be exclusive of any other rights and remedies provided to the parties now or
hereafter existing under law.

GTC-31: WAIVER

If either party shall institute legal or administrative proceedings and a compromise or settlement
thereof shall be made, the same shall not constitute a waiver of any covenant herein contained nor
of any of rights hereunder. No waiver by the parties of any breach of any covenant, condition or
agreement herein contained shall operate as an invalidation or as a continual waiver of such
covenant, condition or agreement, or of any subsequent breach thereof.

GTC-32: CONDEMNATION

	 	(a)	 	In the event that all of the Property is taken for any public or quasi-public
use or purpose in eminent domain proceedings, or in the event the Property is conveyed
to a governmental authority or other entity having the power of eminent domain
(“condemning authority”) in lieu of such proceedings, this Lease shall terminate upon
the date when the possession shall be surrendered to said condemning authority. Any
prepaid Rent attributable to periods after such termination date shall be refunded to
Lessee. Lessee shall not be entitled to share in or receive any part of such
condemnation award or payment in lieu thereof, the same being hereby assigned to Lessor
by Lessee.

	 	(b)	 	In the event eminent domain proceedings shall be instituted in order to take a
portion of the Property, so that the continued use and occupancy of the Demised
Premises by Lessee will be substantially and materially impaired, Lessee may elect to
terminate this Lease by giving Lessor, not less than ninety (90) days’ notice of
termination prior to a termination date specified in such notice, and any prepaid Rent
attributable to periods after such termination date specified in such notice shall be
refunded to Lessee. If Lessee does not so elect to terminate this Lease, this Lease
shall be and remain in full force and effect for the balance of the Term, except that
Rent shall be proportionately abated to the extent of any portion of the Demised
Premises taken.

	 	(c)	 	Lessee shall not share in such condemnation award or payment in lieu thereof or
in any award for damages resulting from any grade change, the same being hereby
assigned to Lessor by Lessee; provided, however, that nothing herein shall preclude
Lessee from separately claiming and receiving from the condemning authority, if legally
payable, compensation for the taking of Lessee’s tangible

20

 

property, for Lessee’s removal and relocation costs and/or for Lessee’s loss of
business and/or business interruption.

GTC-33: RIGHT OF LESSOR TO CURE LESSEE’S DEFAULT; LATE PAYMENTS

If Lessee fails to make any payment due hereunder, other than Rent, or fails to perform any act
herein required to be performed by Lessee, then after thirty (30) days notice from Lessor, Lessor
may, but shall not be required to, make such payments or perform such act, and the amount of the
expense thereof, with interest at the rate of eighteen Percent (18%) per annum accruing from the
date paid by Lessor, shall be paid by Lessee to Lessor, as Reimbursements hereunder due and payable
with the next monthly installment of Rent; but the making of such payment or the performing of such
act by Lessor shall not operate to cure such default or to stop Lessor from the pursuit of any
remedy to which Lessor would otherwise be entitled. In the event of default of payment of Rent or
any other reimbursements as per this Lease Deed, Lessee shall be liable to pay interest @ 18% from
the due date of such payment till the actual date of payment and this remedy is in addition to any
other remedies available to Lessor under this Lease Deed under GTC 30.

GTC-34: NO REPRESENTATION BY LESSOR

Neither Lessor nor any agent or employee of Lessor has made any representation, warranty, or
promise with respect to the Demised Premises, the Buildings, or the Property except as herein
expressly set forth, and no rights, privileges, easements or licenses are granted to Lessee except
as herein set forth. Lessee, by taking possession of the Demised Premises, shall accept the same
“as is,” and such taking of possession shall be conclusive evidence that the Demised Premises are
in good and satisfactory condition at the time of such taking of possession.

GTC-35: BROKERS

Lessor shall indemnify and hold Lessee harmless, and Lessee shall indemnify and hold Lessor
harmless, from and against any claim for brokerage services relating to this Lease.

GTC-36: NOTICES

All notices or other communications hereunder shall be in writing and shall be deemed duly given if
delivered personally and evidenced by a receipt signed by the party receiving such notice or sent
by prepaid recognized international courier service, if sent internationally, or by recognized
domestic courier service or certified or registered mail, return receipt requested, first class
postage prepaid, if sent domestically: (a) if to Lessor, Plot No. 17, Software Units Layout,
Madhapur, Serilingampally Municipality, RR District, and (b) if to Lessee, at the Demised Premises
at Building “Phase five”, The V, Plot No. 17, Software Units Layout, Madhapur, Serilingampally
Municipality, RR District unless notice of a change of address is given pursuant to the provisions
of this Section. Such notices shall be deemed given as of the date received, or the date such
notices would have been received but for the addressee’s refusal thereof. Lessee hereby elects
domicile at the Registered Office: One Spheris Plaza, Koramangala Block 8, Bangalore 560095 for the
purpose of service of all notices, writs or other legal documents, or process, in any action or
proceeding which Lessor may undertake under this Lease.

21

 

GTC-37: FINANCING REQUIREMENTS

In the event that any bank, insurance company, or other financial institution providing mortgage
financing for the Property or any part thereof at any time requires, as a condition of such
financing, that modification to this Lease be obtained, and provided that such modifications (a)
are reasonable, (b) do not affect Lessee’s use of the Demised Premises as herein permitted or the
Term of the Lease, and (c) do not increase the rentals and other sums required to be paid by Lessee
hereunder, then Lessor shall submit such required modifications to Lessee, and Lessee shall execute
an amendment hereto incorporating such modifications within reasonable time after the same has been
submitted to Lessee (provided, however, that Lessee shall not have the benefit of the cure period
set forth in GTC-30(c) of Exhibit ‘B’ above).

GTC-38: PEACEFUL ENJOYMENT OF DEMISED PREMISES

Lessor covenants that it has the right to make this Lease, and that if Lessee shall pay the rental
and perform all of Lessee’s obligations under this Lease, Lessee shall, during the term hereof,
freely, peaceably and quietly occupy and enjoy the Demised Premises without molestation or
hindrance by Lessor or any party claiming through or under Lessor, subject, however, to all
provisions of this Lease.

GTC-39: SUCCESSORS AND ASSIGNS

Subject to the provisions of GTC-17 of Exhibit ‘B’ above, the terms, covenants and conditions
hereof shall be binding upon and inure to the benefit of the parties hereto and their respective
successors in interest and assigns; provided, however, that Lessor, its successors and assigns
shall be obligated to perform Lessor’s agreements and covenants under this Lease only during and in
respect of their respective successive periods as Lessor during the Term. Lessor may freely and
fully assign its interest hereunder.

GTC-40: NAME OF PROPERTY

Lessor shall have the right to change the name of the Property, the Buildings, and any part
thereof, during the Term or any extension thereof and shall have no obligation for any loss or
damage to Lessee by reason thereof.

GTC-41: SIGNS

Lessor and Lessee have agreed that signs relating to Lessee’s business and occupancy of the Demised
Premises may be installed and maintained on the Property at Lessee’s expense as mutually agreed
upon in writing by both parties. All signs shall be installed and maintained by Lessee in
compliance with all applicable laws, statutes, ordinances, rules and agencies. Lessee shall pay all
expenses, and all license and permit fees relating to the installation and maintenance of
authorized signs, and shall pay all expenses of removal and costs of repairs resulting therefrom.

22

 

GTC-42: EXONERATION

It is agreed, covenanted and understood by Lessee that all of the covenants, undertakings,
obligations and agreements of Lessor herein are made solely on behalf of Lessor and that Lessee
shall have recourse against only its interest in the Property, for the recovery of any damages
resulting from the failure of Lessor to perform any covenant, understanding, obligation and
agreement of Lessor herein. Lessee also covenants and agree that no personal liability or
responsibility is assured by, nor shall at any time be asserted or enforceable against, any present
or future officers of Lessor or its agents on account of any covenant, undertaking, obligation or
agreement contained herein, all such personal liability and responsibility, if any, being expressly
waived and released.

GTC-43: ARBITRATION

In the event of any dispute, difference, claim or controversy arising out of or relating to this
Lease, the parties agree that the matter will be first referred to one or more executive officers
(or the equivalent) of each party to attempt a mutually agreeable resolution. If the executive
officers do not reach a mutually agreeable resolution within thirty (30) days of such referral of
the matter to them, the parties shall seek arbitration of such dispute, claim or controversy as
follows:

The dispute, difference, claim or controversy between the parties relating to this Lease shall be
referred to a panel of three arbitrators, one to be appointed by Lessor, one to be appointed by
Lessee and the two arbitrators so appointed shall on their entering upon reference appoint a
Presiding Arbitrator and the majority decision of the arbitral panel shall be final and binding on
the parties. The arbitration shall be conducted in accordance with the Arbitration and Conciliation
Act, 1996 and the venue of arbitration shall be at Hyderabad. All the rights and obligations of
Lessee and Lessor will continue during the period of arbitration. Subject to the above, the courts
of Hyderabad shall have exclusive jurisdiction over any matter arising out of this Lease.

GTC-44: TIME OF THE ESSENCE

Time is of the essence in the performance of all Lessee’s obligations under this Lease.

GTC-45: STAMP DUTY, REGISTRATION CHARGES AND OTHER EXPENSES

Lessee shall register this Lease Deed within a period of 4 (four) months from the execution of this
Lease Deed. The stamp duty, registration charges and all other expenses in respect of this Lease
Deed and any amendment thereof shall be borne and paid by Lessee.

GTC-46: NO PARTNERSHIP

Nothing contained in this Lease along with the exhibits shall be deemed or construed to create a
partnership or joint venture of or between Lessor and Lessee, or to create any relationship between
the parties hereto other than that of Lessor and Lessee.

23

 

GTC-48: AUTHORITY

Each Party shall, concurrently with the signing of this Lease, furnish to the other Party certified
copies of the resolutions of its board of directors (or of the executive committee of its board of
directors) authorizing that Party to enter into this Lease; In Addition Lessee shall furnish to
Lessor evidence (reasonably satisfactory to Lessor and its counsel) that Lessee is a duly organized
corporation under the laws of the state of its incorporation, is qualified to do business in India
is in good standing under the laws of the place of its incorporation and Lessee has the power and
authority to enter into this Lease, and that all corporate action requisite to authorize Lessee to
enter into this Lease has been duly taken. Each party shall also furnish evidence to the other
Party (which such evidence shall be reasonably satisfactory to that Party and its counsel) that the
person or persons executing this Lease on behalf of that Party is an officer or are officers of
that Party, and that such person or persons as such officers were duly authorized to sign and
execute this Lease.

24

 

EXHIBIT “C”

LEASE DEED BETWEEN

VITP PRIVATE LIMITED (LESSOR)

AND

SPHERIS INDIA PRIVATE LIMITED (LESSEE)

SPECIAL TERMS AND CONDITIONS

Not applicable

 

 

EXHIBIT “D”

LEASE DEED BETWEEN

VITP PRIVATE LIMITED (LESSOR)

AND

SPHERIS INDIA PRIVATE LIMITED (LESSEE)

DEMISED PREMISES & RENT

The Demised Premises, referred hereunder is a part of the Vega Block of The V, built on the
Property to house software professionals for IT and IT Enabled Services and, is described below:

	 	 	 	 	 
	Building Vega	 	Super Built Area (sft)
	10th (Tenth) Floor Right Wing
	 	 	25,875	 

ALL THAT piece and parcel of constructed portion admeasuring super built up floor area of 25,875sq.
ft of the Vega Building, The V, situated on Plot No. 17, Software Units Layout, Madhapur,
Serilingampally Municipality, Ranga Reddy District.

Basis and Computation of Monthly Rent

1. Base Rent

The initial monthly rent payable would be Rs.38/- (Rupees Thirty Eight only) per square foot
towards Base Rent, inclusive of current property tax of approximately Rs.0.62/- sq foot per month,
on Super Built Area of 25875 square foot subject to the increase in rent defined in Section 4(a) of
the Lease Deed.

2. Common Area and Equipment Maintenance Charges

The initial monthly charges payable would be Rs.5/- (Rupees Five only) per square foot on Super
Built Areas of 25875 square foot for the Common Maintenance and upkeep of the Campus and Common
Areas as described and subject to the provisions of GTC-3 of Exhibit ‘B’.

3. Charges for Canteen Usage

The monthly charges payable would be at an initial rate of Rs. 1,00,000/- (Rupees One Lakh only)
for usage of Cafeteria. The initial rate shall escalate as defined in Section 4(c).

4. Parking Charges

The monthly Rent payable for Parking areas will be computed as follows, subject to the provisions
of GTC-9 of Exhibit ‘B’:

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Covered Four-Wheeler
	 	 	2000	 	 	 	25	 	 	 	20	 	 	 	40000	 
	Covered Two-Wheeler
	 	 	300	 	 	 	75	 	 	 	60	 	 	 	18000	 
	Total
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	58,000/-	 

 

 

EXHIBIT “E”

LEASE DEED BETWEEN

VITP PRIVATE LIMITED (LESSOR)

AND

SPHERIS INDIA PRIVATE LIMITED (LESSEE)

OPERATING EXPENSES

The Lessee will be the Lessee’s Proportion of the actual expenditure incurred by the Lessor as per
the methodology or procedures mentioned in the Lease Deed together with its Exhibits and Addenda,
for the following, which are collectively referred to as the “Operating Expenses”:

1. Electricity Charges as per conditions in GTC-4 of Exhibit ‘B’.

2. Water Charges as per conditions in GTC-5 of Exhibit ‘B’.

3. Diesel Generator Set Running Expenses as per conditions in GTC-6 of Exhibit ‘B’.

4. Impositions related to the Property which Includes Property & Municipal Taxes.

 

 

EXHIBIT “F”

LEASE DEED BETWEEN

VITP PRIVATE LIMITED (LESSOR)

AND

SPHERIS INDIA PRIVATE LIMITED (LESSEE)

LESSOR FIXTURES

Detailed description of Lessor’s Fixtures as and when received shall become Exhibit ‘F’.

 

 

EXHIBIT “G”

LEASE DEED BETWEEN

VITP PRIVATE LIMITED (LESSOR)

AND

SPHERIS INDIA PRIVATE LIMITED (LESSEE)

LESSEE FIXTURES

Detailed description of Lessee’s Fixtures as and when received shall become Exhibit ‘G’.EX-10.14 Executive and Director Compensation.

 

Exhibit 10.14

EXECUTIVE AND DIRECTOR COMPENSATION

Fiscal 2007 Executive Bonuses. The fiscal 2007 bonuses for the Named Executive Officers under the
2007 executive cash incentive program were approved by the Compensation Committee as follows, based
upon the achievement of specified Company EBITDA goals and/or individual performance objectives:

	 	 	 	 	 	 	 
	Name	 	Title	 	Bonus Amount
	Steven E. Simpson

	 	President and Chief Executive Officer
	 	$	303,030	 
	Brian P. Callahan

	 	Chief Financial Officer
	 	$	107,500	 
	Anthony D. James

	 	Chief Operating Officer
	 	$	110,000	 
	Gregory T. Stevens

	 	Chief Administrative Officer, General Counsel and Secretary
	 	$	98,800	 
	J. Alan Whorton

	 	Senior Vice President, Sales and Marketing
	 	$	20,000	 

Fiscal 2008 Executive Base Salaries. The 2008 base salary levels of the persons who are
anticipated to constitute the Company’s Named Executive Officers for 2008 were set by the
Compensation Committee, effective March 2008, as follows:

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	2008 Base	 	2007 Base
	Name	 	Title	 	Salary	 	Salary
	Steven E. Simpson

	 	President and Chief Executive Officer
	 	$	350,000	 	 	$	336,700	 
	Brian P. Callahan

	 	Chief Financial Officer
	 	$	225,750	 	 	$	215,000	 
	Anthony D. James

	 	Chief Operating Officer
	 	$	231,000	 	 	$	220,000	 
	Gregory T. Stevens

	 	Chief Administrative Officer, General Counsel and Secretary
	 	$	220,000	 	 	$	197,600	 
	J. Alan Whorton

	 	Senior Vice President, Sales and Marketing
	 	$	180,250	 	 	$	175,000	 

2008 Spheris Executive Incentive Program. The Company’s 2008 Spheris Executive Incentive Program
(the “Executive Incentive Program”), which was approved by the Compensation Committee, is intended
to provide incentives to members of senior management, including the Named Executive Officers, in
the form of cash bonus payments for achieving certain Company and individual performance goals
established by the Compensation Committee. For the Named Executive Officers (other than the Senior
Vice President, Sales and Marketing), the performance awards will be based upon achievement of
established Company EBITDA and new business goals, as well as achievement of individual objectives.
Actual awards range from zero to 50% of such participant’s base salary, except that awards for the
Chief Executive Officer range from zero to 100% of his base salary. In accordance with the
Executive Incentive Program, these awards may be increased in the event of significant
overachievement of the Company and individual goals. The performance award to the Senior Vice
President, Sales and Marketing will be based upon achieving certain new customer revenue goals
established by the Compensation Committee. Actual awards range from zero to 100% of his base
salary. The Compensation Committee will administer and make all determinations under the Executive
Incentive Program.

Equity Awards to Named Executive Officers. There were no additional equity awards granted to the
Named Executive Officers at the first quarter 2008 Compensation Committee meeting.

Outside Director Compensation Program. Set forth below is a summary of the 2008 compensation
program for our outside directors. Employees who also serve as directors and directors appointed
to the Board of Directors as representatives of Warburg Pincus and Towerbrook currently are not
eligible to receive compensation for their service as directors, other than reimbursement of
expenses incurred in connection with their services.

Annual Retainer. Each outside director receives $20,000 as an annual retainer.

Meeting Fees. For each meeting of the Board of Directors attended in person an outside director
receives $1,500. An outside director also receives $1,000 for each Committee and special Board
meeting not in conjunction with a regular quarterly Board meeting attended in person. An outside
director receives $500 for each Board and Committee meeting attended by telephone. Directors are
also reimbursed for expenses incurred in connection with their services as directors.

 

 

Committee Chairmen. The chair of the Audit Committee receives an annual retainer of $15,000 and
the chairs of the Compensation Committee and the Nominating and Corporate Governance Committee
receive an annual retainer of $7,500 each. Members of the Audit, Compensation and Nominating and
Corporate Governance Committees each receive an annual retainer of $5,000.

Equity Incentives. Each outside director receives an award of 30,000 shares of restricted common
stock under the Stock Incentive Plan upon his or her initial election to the Board of Directors,
vesting in one-third increments on each anniversary of the date of grant, and 10,000 shares of
restricted common stock annually following his or her re-election to the Board of Directors,
vesting on the first anniversary of the date of re-election.

Election. In lieu of receiving the retainers and fees set forth above in cash, an outside director
may elect to receive the retainers and fees in shares of Series A Convertible Preferred Stock of
Spheris Holding III based on a ratio to be set by the Board of Directors each year. Such election
must be made prior to December 31st of the year prior to the year in which such
retainers and fees will be earned.

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