Document:

Escrow Agreement

 Exhibit 10.1 

 

	 DATED 
	 April 29, 2011 

 
 iGATE CORPORATION

 as Grantor 
 and 
 WILMINGTON TRUST FSB 

as Trustee 

and 

STANDARD CHARTERED BANK 
 as Escrow Agent 
 ESCROW AGREEMENT 

 CONTENTS 

 

							
	 Clause
	  	 	  	Page	 
	1.	  	DEFINITIONS AND INTERPRETATION	  	 	1	  
	2.	  	APPOINTMENT	  	 	4	  
	3.	  	ESCROW AGENCY FEES AND CHARGES	  	 	5	  
	4.	  	ESCROW ACCOUNT	  	 	5	  
	5.	  	RELEASE OF ESCROW PROPERTY	  	 	7	  
	6.	  	INSTRUCTIONS	  	 	8	  
	7.	  	RESPONSIBILITY OF ESCROW AGENT	  	 	9	  
	8.	  	REPRESENTATIONS AND WARRANTIES	  	 	11	  
	9.	  	TERMINATION	  	 	13	  
	10.	  	EXPENSES	  	 	13	  
	11.	  	VALUE ADDED TAX	  	 	13	  
	12.	  	TAXES	  	 	13	  
	13.	  	SURVIVAL	  	 	14	  
	14.	  	CONFIDENTIALITY	  	 	14	  
	15.	  	RESIGNATION OF ESCROW AGENT	  	 	14	  
	16.	  	NOTICES	  	 	15	  
	17.	  	ASSIGNMENT	  	 	17	  
	18.	  	PARTIAL INVALIDITY	  	 	17	  
	19.	  	AMENDMENTS AND WAIVERS	  	 	17	  
	20.	  	RIGHTS OF THIRD PARTIES	  	 	17	  
	21.	  	COUNTERPARTS	  	 	17	  
	22.	  	ENTIRE AGREEMENT	  	 	17	  
	23.	  	THE TRUSTEE	  	 	18	  
	24.	  	GOVERNING LAW AND JURISDICTION	  	 	18	  
		
	SCHEDULE	  			
			
	1.	  	Form of Transfer Instruction	  	 	1	  
	2.	  	Form of Acquisition Completion Certificate	  	 	3	  
	3.	  	Form of Special Mandatory Redemption Certificate	  	 	4	  
	4.	  	Authorized Signatories	  	 	7	  
	5.	  	Conditions Precedent to the Effective date	  	 	8	  
	6.	  	Form of Enforcement Notice	  	 	9	  

 THIS AGREEMENT is dated April 29, 2011 (this “Agreement”) 

AMONG: 
  

	(1)	iGATE Corporation, a corporation incorporated under the laws of the Commonwealth of Pennsylvania (the “Grantor”); 

 

	(2)	Wilmington Trust FSB, not in its individual capacity, but solely in its capacity as trustee under the indenture described below along with any successor trustee
(the “Trustee”); and 

  

	(3)	Standard Chartered Bank, in its capacity as escrow agent (the “Escrow Agent”). 

WHEREAS: 
  

	(1)	Pursuant to that certain indenture (the “Indenture”), dated as of April 29, 2011, among the Grantor, the guarantor named therein and the
Trustee, the Grantor will issue US$770,000,000 in aggregate principal amount of its 9% Senior Notes due 2016 (the “Notes”). The Notes are being issued in a private placement (the “Offering”) pursuant to that certain
purchase agreement (the “Purchase Agreement”), dated as of April 14, 2011, among the Grantor, the guarantor named therein and Jefferies & Company, Inc. and RBC Capital Markets, LLC (the “Initial
Purchasers”), and in connection with the Offering, the Grantor prepared a preliminary offering memorandum, dated April 4, 2011 (the “Preliminary Offering Memorandum”), and an offering memorandum, dated April 14,
2011 (the “Offering Memorandum”). 

  

	(2)	As described under the caption “Use of Proceeds” of the Offering Memorandum, the Grantor intends to use the proceeds of the Offering to finance the
acquisition (the “Acquisition”) of a majority stake of Patni Computer Systems Limited (“Patni”) and related transactions. As of the Issue Date, the Acquisition has not yet been consummated. 

 

	(3)	On May 3, 2011, the Trustee will deposit, or cause to be deposited, with the Escrow Agent, in the Escrow Account (as defined below) US$775,775,000 (the
“Initial Deposit”), which amount will be sufficient to redeem the Notes at a redemption price of 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, May 29, 2011.

  

	(4)	The Grantor, the Trustee and the Escrow Agent hereby agree that, in consideration of the mutual promises and covenants contained herein, the Escrow Agent will open and
operate the Escrow Account, hold in escrow and will distribute the Escrow Property (as defined below) in accordance with and subject to this Agreement. 

 IT IS AGREED as follows: 
  

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	Definitions 

 In this
Agreement: 
 “Acquisition Completion Certificate” means an acquisition completion certificate substantially in
the form of Schedule 2 (Form of Acquisition Completion Certificate) signed by an Authorized Signatory of the Grantor. 

“Affiliate” means, in relation to a person: 

 

	 	(a)	its Subsidiary; 

	 	(b)	its Holding Company; or 

  

	 	(c)	any other Subsidiary of that Holding Company. 

 “Authority” means any government, quasi-government, administrative, regulatory or supervisory body or authority, court or tribunal. 

“Authorized Signatory” means, in relation to each of the Grantor and the Trustee: 

 

	 	(a)	each person set out in Schedules 4-1 and 4-2 (Authorized Signatories) as the authorized signatory for that Party; or 

 

	 	(b)	any other person who is notified to the Escrow Agent in accordance with this Agreement. 

“Banking Day” means a day (other than a Saturday or a Sunday) on which banks are open for general business in the City of
New York and London. 
 “Control” and “Controlled” means: 

 

	 	(a)	the power (whether by way of ownership of shares, proxy, contract, agency or otherwise) to: 

 

	 	(i)	cast, or control the casting of, more than 50% of the maximum number of votes that might be cast at a general meeting of the company; 

 

	 	(ii)	appoint or remove all, or the majority, of the directors or other equivalent officers of the company; or 

 

	 	(iii)	give directions with respect to the operating and financial policies of the company with which the directors or other equivalent officers of the company are obliged to
comply; or 

  

	 	(b)	the holding beneficially of more than 50% of the issued share capital of the company (excluding any part of that issued share capital that carries no right to
participate beyond a specified amount in a distribution of either profits or capital). 

 “Effective
Date” means the date on which the Escrow Agent has issued the notification referred to in Clause 2.1 (Appointment). 
 “Enforceable Order” means: 
  

	 	(a)	an order, judgment, decree, ruling, award or decision of arbitrators ordering the release of any part of the Escrow Property (as defined below); or

  

	 	(b)	the decision of any other third party appointed by the Grantor and the Trustee to resolve any dispute in connection with the Escrow Property. 

“Enforcement Notice” means a notice substantially in the form set out in Schedule 6 (Form of Enforcement Notice).

 “Escrow Account” has the meaning set forth in Clause 4.1. 

“Escrow Property” has the meaning set forth in Clause 4.4. 

 “Holding Company” means, in relation to a person, any other person in
respect of which the first named person is a Subsidiary. 
 “Issue Date” means the date the Notes are issued.

 “Legal Opinion” means a legal opinion satisfactory to the Escrow Agent to the effect that: 

 

	 	(a)	the Enforceable Order represents a final adjudication or award of the rights of the parties by a court of competent jurisdiction or arbitration tribunal; and

  

	 	(b)	the time for appeal from that Enforceable Order has expired without an appeal having been made; or 

 

	 	(c)	the Enforceable Order has been validly made by a person appointed to do so by the Grantor and the Trustee in accordance with the terms of his appointment and is final
and conclusive. 

 “Party” means a party to this Agreement. 

“Special Mandatory Redemption Certificate” means a special mandatory redemption certificate substantially in the form of
Schedule 3 (Form of Special Mandatory Redemption Certificate) signed by an Authorized Signatory of the Grantor and acknowledged by an Authorized Signatory of the Trustee. 

“Subsidiary” means in relation to a person, any other person: 

 

	 	(a)	that is Controlled, directly or indirectly, by the first named person; 

  

	 	(b)	more than half the issued share capital of which is beneficially owned, directly or indirectly, by the first named person; or 

 

	 	(c)	that is a Subsidiary of another Subsidiary of the first named person. 

 “Tax” means any tax, levy, impost duty or other charge or withholding of a similar nature (including any related penalty or interest). 

“Transfer Instruction” means a transfer instruction substantially in the form of Schedule 1 (Form of Transfer
Instruction) signed by an Authorized Signatory of the Grantor and acknowledged by an Authorized Signatory of the Trustee. 
  

	1.2	Interpretation 

  

	 	(a)	Any reference in this Agreement to: 

  

	 	(i)	an “amendment” includes a supplement, variation, novation, restatement or re-enactment and “amended” will be construed accordingly;

  

	 	(ii)	an “authorization” includes an authorization, consent, approval, resolution, licence, exemption, filing, registration or notarization;

  

	 	(iii)	“know your customer requirements” are the identification checks that the Escrow Agent requests in order to meet its obligations under any applicable
law or regulation to identify a person who is (or is to become) its customer; 

  

	 	(iv)	 a “regulation” includes any regulation, rule, official directive, request or guideline (whether or not having the force of law but, if
not having the force of 

	 	 
law, being of a type with which any person to which it applies is accustomed to comply) of any governmental, inter-governmental or supranational body, agency, department or regulatory,
self-regulatory or other Authority or organisation; 

  

	 	(v)	any statute or any section of any statute will be deemed to include reference to any statutory modification or re-enactment of it for the time being in force;

  

	 	(vi)	a “person” includes any individual, company, corporation, unincorporated association or body (including a partnership, trust, joint venture or
consortium), government, state, agency, organisation or other entity whether or not having separate legal personality; and 

  

	 	(vii)	a currency is to the lawful currency for the time being of the relevant country. 

 

	 	(b)	A reference in this Agreement to this Agreement or any other document is a reference to this Agreement or document as amended, novated, supplemented, extended, replaced
or restated. 

  

	 	(c)	The headings in this Agreement do not affect its interpretation. 

  

	 	(d)	Unless the context otherwise requires, a gender includes all other genders and words denoting the singular will include the plural and vice versa.

  

	 	(e)	General words will not be given a restrictive meaning by reason of the fact that they are followed by particular examples intended to be embraced by the general words.

  

	 	(f)	Clause and schedule headings are for ease of reference only and will be ignored in construing this Agreement. 

 

	 	(g)	References to clauses and schedules are to clauses of and schedules to this Agreement and references to this Agreement include its schedules. 

 

	 	(h)	Unless a contrary indication appears, a reference to a party or a person will be construed as including its and any subsequent successors in title, permitted
transferees and permitted assigns, in each case in accordance with their respective interests. 

  

	2.	APPOINTMENT 

  

	2.1	Appointment 

 The Grantor
hereby designates and appoints the Escrow Agent as escrow agent under and on the terms of this Agreement and the provisions of this Agreement shall take effect on and from the date that the Escrow Agent notifies to the Grantor that: 

 

	 	(a)	it has received all the documents and other evidence listed in Schedule 5 (Conditions Precedent to the Effective Date) in form and substance satisfactory to the
Escrow Agent; and 

  

	 	(b)	it has opened the Escrow Account (as defined below). 

  

	2.2	Acceptance 

 The Escrow
Agent accepts its designation and appointment as escrow agent pursuant to the terms of this Agreement. 

	3.	ESCROW AGENCY FEES AND CHARGES 

  

	3.1	Fees 

 The Grantor must
pay to the Escrow Agent a set-up fee of US$20,000.00 payable within 10 days of the opening of the Escrow Account. 
  

	3.2	[Reserved] 

  

	3.3	Liability 

 The Grantor is
solely liable for payment of any fees, expenses and other sums payable to the Escrow Agent pursuant to this Agreement. The Escrow Agent may debit any amounts due to it in respect of the operation of the Escrow Account from the Escrow Account and
shall be entitled to retain that proportion of the Escrow Property equal to any unpaid fees and other charges due to the Escrow Agent under this Agreement until all such fees and charges have been paid in full. The Grantor shall replenish the Escrow
Account for any amounts debited or retained by the Escrow Agent so that the Escrow Property is at least equal to the Initial Deposit. 
  

	4.	ESCROW ACCOUNT 

  

	4.1	Escrow Account 

 The
Grantor requests and the Escrow Agent confirms that, subject to receipt of the documents and other evidence referred to in Schedule 5 (Conditions Precedent to the Effective Date), it shall open the following account (the “Escrow
Account”), in the name of the Grantor: 
 Escrow Account details: 

 

			
	Correspondent Bank:	  	
		
	SWIFT Code:	  	
		
	Chips ABA Number:	  	
		
	Fedwire Routing No:	  	
		
	Beneficiary Bank:	  	
		
	SWIFT Code:	  	
		
	Beneficiary:	  	
		
	IBAN:	  	
		
	Account Number:	  	
		
	OBI:	  	

  

	4.2	Operation 

 The Escrow
Account must be operated in accordance with the terms of this Agreement. 

	4.3	Credit Balance 

 The
Escrow Account shall in no circumstances be overdrawn. 
  

	4.4	Escrow Property 

  

	 	(a)	The Initial Deposit will be credited to the Escrow Account by the Escrow Agent on receipt from the Trustee. The Initial Deposit and all funds hereafter credited to the
Escrow Account, less any funds distributed or paid in accordance with this Agreement, are collectively referred to herein as “Escrow Property.” 

 

	 	(b)	All funds delivered to the Escrow Agent for crediting to the Escrow Account shall be promptly credited to the Escrow Account by the Escrow Agent. The Escrow Agent
agrees not to enter into any control agreement or any other agreement relating to the Escrow Account or the Escrow Property with any third party. 

  

	 	(c)	It shall be a term and condition of the Escrow Account, notwithstanding any term or condition to the contrary in this Agreement or any other agreement relating to the
Escrow Account, that no amount shall be paid or released from the Escrow Account to or for the account of, or withdrawn by or for the account of, the Grantor or any other person unless specifically provided for in this Agreement.

  

	 	(d)	As security for the due and punctual payment when due of all amounts that may be payable from time to time under the Indenture and the Notes, now or hereafter arising,
the Grantor shall enter into an English law bank account security deed (the “Account Security Deed”). The Grantor represents and warrants that the security interest of the Trustee arising pursuant to the Account Security Deed will
at all times be valid, perfected and enforceable as a first-priority security interest by the Trustee against the Grantor and all third parties in accordance with the terms of the Account Security Deed. The aforementioned pledge, lien, assignment
and security interest (first priory or otherwise) granted by the Grantor to the Trustee (for the ratable benefit of the holders of the Notes (the “Holders”)) over the Escrow Property shall nevertheless be subject to the prior
payment of all amounts owing (including all fees, charges and expenses) by the Grantor to the Escrow Agent in relation to this Agreement. 

  

	 	(e)	This Agreement constitutes written notice to the Escrow Agent of the Trustee’s security interest arising pursuant to the Account Security Deed and the Escrow Agent
hereby acknowledges notice of such security interest. 

  

	 	(f)	Notwithstanding anything to the contrary contained herein, neither the Trustee nor the Escrow Agent shall have any responsibility for the preparing, recording, filing,
re-recording, or re-filing of any financing statement, continuation statement or other instrument in any public office. 

  

	 	(g)	Upon the release of any Escrow Property in accordance with Clause 5 (Release of Escrow Property) the security interest of the Trustee will terminate in
accordance with the terms of the Account Security Deed and such Escrow Property will be delivered to the recipient free and clear of any and all liens, claims or encumbrances of any person, including, without limitation, the Trustee and the Holders
but subject to any rights the Escrow Agent has with respect to any amounts owing to it pursuant to this Agreement. 

  

	4.5	Interest 

 Interest
accrual on the Escrow Property shall be effective from the day the Escrow Property is deposited into the Escrow Account. Interest shall accrue at 0.14% per annum for the benefit 

 
of the Grantor provided the Initial Deposit stays in the Escrow Account for a minimum period of seven (7) days. If the Initial Deposit is released on or before seven (7) days of the
date of its deposit into the Escrow Account, then standard rates would apply. Interest earned on the Escrow Property shall be calculated and paid in accordance with the Escrow Agent’s standard terms of business and will be credited to the
Escrow Account. 
  

	5.	RELEASE OF ESCROW PROPERTY 

  

	5.1	Authorization to Release 

  

	 	(a)	Each of the Parties agrees that the Escrow Property shall not be released, in whole or in part, by the Escrow Agent from the Escrow Account unless such release is in
accordance with (1) the terms of this Clause 5 (Release of Escrow Property) and Clause 6.2 (Call Back) or (2) the terms of an Enforceable Order; provided that an Enforceable Order must be accompanied by a Legal
Opinion. 

  

	 	(b)	If the Escrow Agent shall have received (i) an Acquisition Completion Certificate (any such certificate to be copied to the Trustee), (ii) a Transfer
Instruction and (iii) confirmation pursuant to Clause 6.2 (Call Back), then the Escrow Agent shall promptly release and transfer from the Escrow Account such amounts as set out in the Transfer Instruction; provided such Transfer
Instruction is received by the Escrow Agent no later than 4:00 P.M. U.K. Time (11:00 A.M. New York Time) on the one Business Day before the time at which the payments are to be made. 

 

	 	(c)	If the Escrow Agent shall have received (i) a Special Mandatory Redemption Certificate (any such certificate to be copied to the Trustee), (ii) a Transfer
Instruction and (iii) confirmation pursuant to Clause 6.2 (Call Back), then the Escrow Agent shall promptly release and transfer from the Escrow Account such amounts as set out in the Transfer Instruction; provided such Transfer
Instruction is received by the Escrow Agent no later than 4:00 P.M. U.K. Time (11:00 A.M. New York Time) on the one Business Day before the time at which the payments are to be made. 

 

	5.2	Transfer Instruction 

Subject to any applicable general legal principles, the Escrow Agent shall promptly comply with any notice or instructions delivered
pursuant to Clause 5.1 (Authorization to Release), including any Transfer Instruction or the terms of an Enforceable Order. For the avoidance of doubt, the Escrow Agent shall only be obliged to make payments pursuant to a valid Transfer
Instruction on a day that is a Banking Day. 
  

	5.3	Enforcement Event Under the Account Security Deed 

 Notwithstanding anything contained elsewhere in this Clause 5 (Release of Escrow Property), any or all of the amount of the Escrow Property shall not be released (other than to pay the Escrow
Agent’s own fees, charges, costs and expenses incurred pursuant to this Agreement) if (prior to such release) an Enforcement Notice is served on the Escrow Agent by an Authorised Signatory of the Trustee in accordance with the terms of the
Account Security Deed, whereupon the Escrow Agent shall, pursuant to the Enforcement Notice, either (i) hold the Escrow Property to the order of the Trustee in accordance with the Account Security Deed until directed otherwise in writing by the
Authorised Signatory of the Trustee or by an Enforceable Order or (ii) upon confirmation pursuant to Clause 6.2 (Call Back), release and transfer the Escrow Property from the Escrow Account to the Trustee in accordance with the
Enforcement Notice, provided, in the case of clause (ii), such Enforcement Notice is received by the Escrow Agent no later than 4:00 P.M. U.K. Time (11:00 A.M. New York Time) on the one Business Day before the time at which the payments are
to be made. 

	6.	INSTRUCTIONS 

  

	6.1	Payments 

  

	 	(a)	Subject to there being sufficient sums in the Escrow Account, a request to make a Transfer Instruction (the “Instruction”) must be:

  

	 	(i)	sent by fax; 

  

	 	(ii)	in accordance with Schedule 1 (Form of Transfer Instruction); and 

  

	 	(iii)	signed by an Authorized Signatory of the Grantor and acknowledged by an Authorized Signatory of the Trustee. 

 

	 	(b)	The Escrow Agent shall incur no liability to either the Grantor or the Trustee as a consequence of making or not making the payments referred to in a Transfer
Instruction in accordance with this Agreement. 

  

	6.2	Call Back 

 Upon receipt
of the Transfer Instruction, the Escrow Agent shall seek confirmation of the same by telephone from one of the Authorized Signatories of each of the Grantor and the Trustee, and in the case of the Grantor, other than the Authorized Signatory that
provided the Instruction, on the evening immediately preceding the date on which the payments will be made pursuant to the Transfer Instruction. 
 Upon receipt of the Enforcement Notice, the Escrow Agent shall seek confirmation of the same by telephone from one of the Authorized Signatories of the Trustee within one Business Day or on the evening
immediately preceding the date on which the payments will be made pursuant to the Enforcement Notice, as the case may be, and provide notice in writing of the receipt of such Enforcement Notice to the Grantor within one Business Day. 

 

	6.3	Other Instructions 

 If
the Grantor and the Trustee agree that instructions (other than a Transfer Instruction) in relation to the Escrow Account may be given to the Escrow Agent by letter or fax (or in any other way) and the Escrow Agent agrees to accept instructions
given in that form, the Escrow Agent may make payments accordingly. 
  

	6.4	Change of Authorized Signatories 

  

	 	(a)	Subject to the approval of the Escrow Agent, each of the Grantor and the Trustee may at any time replace one or more of its Authorized Signatories.

  

	 	(b)	Any change under paragraph (a) above will not take effect until the Escrow Agent actually receives: 

 

	 	(i)	a written notice from the relevant Party providing, in relation to each replacement Authorized Signatory, the details specified in Schedule 4 (Authorized
Signatories); 

  

	 	(ii)	a board resolution, incumbency certificate or other documentation of the relevant Party satisfactory to the Escrow Agent conferring the necessary authority on the
replacement Authorized Signatory, which must be provided in accordance with the terms of this Agreement; and 

	 	(iii)	any documentation or other evidence that is reasonably requested by the Escrow Agent to enable the Escrow Agent to carry out and be satisfied with the results of all
applicable know your customer requirements. 

  

	7.	RESPONSIBILITY OF ESCROW AGENT 

  

	7.1	Responsibility 

  

	 	(a)	The Escrow Agent has only those duties expressly set out in this Agreement. 

 

	 	(b)	The Escrow Agent is not bound by (and will be deemed not to have notice of) the provisions of any agreement between the Grantor and the Trustee except this Agreement
and any Transfer Instruction and any implied duties or obligations of the Escrow Agent are excluded to the fullest extent permitted by law. 

  

	 	(c)	The Escrow Agent shall not be under any duty or obligation to exercise any greater degree of care in respect of moneys standing to the credit of the Escrow Account than
it gives to its own similar property. For the avoidance of doubt, credit is deposited with, and held by, the Escrow Agent as banker. 

  

	 	(d)	The Escrow Agent shall not be responsible in any manner whatsoever for the correctness of any recitals, statements, representations or warranties contained in this
Agreement or in any document issued by the Grantor or the Trustee. 

  

	 	(e)	The Escrow Agent is under no duty or obligation to: 

  

	 	(i)	ensure that any funds withdrawn from the Escrow Account are actually applied for the purpose for which they are withdrawn; 

 

	 	(ii)	ensure that any Transfer Instruction or other instruction, direction or notice by the Grantor and/or the Trustee is accurate, correct or duly authorized, other than as
set forth in Clause 6.2; or 

  

	 	(iii)	verify or ascertain whether the Grantor and/or the Trustee have fulfilled their obligations under this Agreement or any other agreements relating to the Escrow Account
or any moneys in the Escrow Account, other than this Agreement. 

  

	7.2	Reliance 

 The Escrow
Agent may: 
  

	 	(a)	rely on any Enforceable Order, notice, document or other written instrument delivered to it under this Agreement without being required to determine the legality,
validity, effectiveness, adequacy, completeness or enforceability of that notice or document, provided that an Enforceable Order is accompanied by a Legal Opinion; 

 

	 	(b)	rely on any Transfer Instruction or other instruction, direction, notice instrument or signature believed by it to be genuine; provided, in the case of Transfer
Instruction, a confirmation of the same is obtained as set forth in Clause 6.2; 

  

	 	(c)	assume that any person purporting to give any direction, make any statement or execute any document in connection with this Agreement has been duly authorized to do so
and that such direction, statement and/or document are accurate and correct; 

	 	(d)	engage, pay and rely on counsel or professional advisers selected by it in relation to any matter arising from this Agreement (and is not liable for any action taken or
not taken in accordance with the advice of those professional advisers); and 

  

	 	(e)	if requested and authorized, but not obliged, by an Authorized Signatory, to accept and act in accordance with any notice, instruction, confirmation or other
communication other than a Transfer Instruction subject to Clause 7.5 (Refusal to Act), which may be, or purport to be, given by letter or fax on behalf of the Grantor or the Trustee by any one of the Authorized Signatories without enquiry on
the part of the Escrow Agent as to the authority or identity of such person. 

  

	7.3	Exclusion of Liability 

  

	 	(a)	The Escrow Agent is not liable to any person for any action taken or not taken by it under or in connection with this Agreement, (including any losses, damages, claims
liabilities, costs (including but not limited to legal costs) and any other expense of any kind) unless directly caused by its gross negligence or wilful misconduct. 

 

	 	(b)	In addition, the Escrow Agent is not liable to either the Grantor or the Trustee for any consequential loss or damage whether in contract, tort or otherwise (including
but not limited to, loss of business goodwill opportunity or project) even if advised of the possibility of such loss or damage. 

  

	 	(c)	The liability of the Escrow Agent under this Agreement shall be limited to an amount equal to the Escrow Property. 

 

	 	(d)	The Escrow Agent will not be liable for any failure or delay in acting upon any communication by reason of any cause beyond the Escrow Agent’s control, including
(without limitation) any breakdown or failure of transmission, or where such transmission is corrupted, lost, delayed or incomplete, in any way or form, and for any reason. 

 

	7.4	Indemnity 

  

	 	(a)	The Grantor shall reimburse and indemnify the Escrow Agent (and its directors, officers, agents and employees) on demand for any cost, claim, action, proceeding,
demand, damages, loss or liability (including, but not limited to legal fees and disbursements) arising out of or in connection with this Agreement, unless caused by the Escrow Agent’s gross negligence or wilful misconduct.

  

	 	(b)	The Grantor acknowledges its approval for any losses incurred under paragraph (a) above which may be sustained as a result of the risks to which the Internet or
the relevant electronic transmission may be subjected. 

  

	 	(c)	The Escrow Agent shall not be required to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties or the
exercise of any right, power or authority under this Agreement. 

  

	7.5	Refusal to Act 

  

	 	(a)	The Escrow Agent shall not be obliged to make any payment under any Transfer Instruction or otherwise to act on any request or instruction notified to it under this
Agreement: 

	 	(i)	if, in the Escrow Agent’s reasonable opinion, it conflicts with any provision of this Agreement or otherwise does not comply with the requirements of this
Agreement; 

  

	 	(ii)	in the event of any disagreement between the Grantor and the Trustee resulting in conflicting claims or demands being made in connection with the Escrow Property;

  

	 	(iii)	in the event that the Escrow Agent in good faith is in doubt as to what action it should take under this Agreement; or 

 

	 	(iv)	in the event that the amount or amounts that the Escrow Agent is required to pay from the Escrow Account exceeds the Escrow Property. 

 

	 	(b)	If the Escrow Agent refuses to make any payment or otherwise to act on any request or instruction given to it under this Agreement, it must, as soon as reasonably
practicable, notify the Grantor and the Trustee in writing of the decision not to act and thereafter its sole obligation shall be to retain the Escrow Property until directed otherwise in writing by the Authorized Signatories of the Grantor and the
Trustee or by an Enforceable Order. 

  

	7.6	No Trust 

 This Agreement
shall not be deemed to create a trust or fiduciary relationship between the Parties. The Escrow Agent acts in the capacity of agent or banker only and is acting in a purely administrative capacity. 

 

	7.7	Force Majeure 

 The Escrow
Agent shall not be required to perform any of its obligations under this Agreement if it is prevented from so doing by the occurrence of any event due to any cause beyond its reasonable control or if such performance would result in the Escrow Agent
or its immediate or ultimate Holding Company being in breach of any law, regulation, ordinance, rule, directive, judgment, order or decree (collectively, the “Rules”) binding on the Escrow Agent or its property or on its immediate
or ultimate Holding Company. The Escrow Agent may act or refrain from acting under this Agreement and may do anything that (in its reasonable opinion after consultation with counsel) is necessary to comply with such Rules. The Escrow Agent may use
(and its performance will be subject to the rules of) any communications, clearing or payment systems, intermediary bank or other system. 
  

	7.8	Other Business 

 The
Escrow Agent may accept deposits from, lend money to and generally engage in any kind of banking or other business with the Grantor and/or the Trustee. 
  

	8.	REPRESENTATIONS AND WARRANTIES 

  

	8.1	Representations and Warranties of the Grantor 

 The Grantor represents and warrants to the Escrow Agent and the Trustee as follows for the duration of the Agreement: 
  

	 	(a)	it is corporation, duly incorporated and validly existing under the laws of its jurisdiction of incorporation; 

	 	(b)	it has the power to enter into and perform, and has taken all necessary action to authorize the entry into and performance of, this Agreement and the transactions
contemplated by this Agreement; 

  

	 	(c)	this Agreement constitutes its legal, valid, binding and enforceable obligations; 

 

	 	(d)	the entry into and performance by it of this Agreement and the transactions contemplated by this Agreement do not and will not conflict with: 

 

	 	(i)	any law or regulation or any official or judicial order applicable to it; 

  

	 	(ii)	its constitutional documents; or 

  

	 	(iii)	any agreement or instrument binding upon it or any of its assets, except for any such conflict that could not, individually or in the aggregate, reasonably be expected
to have a material adverse effect.; 

  

	 	(e)	all authorizations required or desirable: 

  

	 	(i)	to enable it to lawfully enter into, exercise its rights and comply with its obligations in this Agreement to which it is a party; and 

 

	 	(ii)	to make this Agreement admissible in evidence in its jurisdiction of incorporation, 

 

	 	have	been obtained or effected and are in full force and effect; 

  

	 	(f)	(i) the choice of New York law as the governing law of this Agreement; 

  

	 	(ii)	its irrevocable submission under this Agreement to the jurisdiction of the Specified Courts (as defined below); 

 

	 	(iii)	its agreement not to claim any immunity to which it or its assets may be entitled; and 

 

	 	(iv)	any judgment obtained in relation to this Agreement in New York, 

  

	 	will	each be recognized and enforced in its jurisdiction of incorporation; 

  

	 	(g)	the entry into this Agreement and the exercise by it of its rights and performance of its obligations under this Agreement will constitute private and commercial acts
performed for private and commercial purposes; 

  

	 	(h)	it will not be entitled to claim immunity from suit, execution, attachment or other legal process in any proceedings taken in its jurisdiction of incorporation in
relation to this Agreement; and 

  

	 	(i)	the security interest of the Trustee will at all times be valid, perfected and enforceable as a first-priority security interest by the Trustee against the Grantor and
all third parties in accordance with the terms of the Account Security Deed. 

	9.	TERMINATION 

  

	9.1	Termination 

 This
Agreement will terminate (subject to Clause 13 (Survival)), and the Escrow Agent will be discharged from all obligations under this Agreement, upon the occurrence of any of the following events: 

 

	 	(a)	The Escrow Agent has distributed all of the Escrow Property pursuant to the receipt of a Transfer Instruction(s) in accordance with the terms of this Agreement; or

  

	 	(b)	The Escrow Agent has resigned subject to and in accordance with Clause 15 (Resignation of Escrow Agent). 

 

	9.2	Closure of Escrow Account 

On termination of this Agreement, the Escrow Agent shall promptly close the Escrow Account. 

 

	9.3	Termination Without Prejudice 

 Termination will be without prejudice to the completion of transactions already initiated. 
  

	10.	EXPENSES 

 The Grantor
must on demand pay the Escrow Agent all reasonable, documented and out-of-pocket costs and expenses (including legal fees and any Tax) the Escrow Agent incurs in connection with: 

 

	 	(a)	the preparation, negotiation, execution or perfection of this Agreement; and/or 

 

	 	(b)	any amendment to, waiver of or consent under (or any evaluation of a request for the same) this Agreement; and/or 

 

	 	(c)	enforcement of or the preservation of any rights under this Agreement. 

  

	11.	VALUE ADDED TAX 

 Any
amount payable under this Agreement by the Grantor is exclusive of any value added tax or a similar Tax that may be payable in connection with that amount. If any such Tax is chargeable, the Grantor must pay to the Escrow Agent (in addition to and
at the same time as paying that amount) an amount equal to the amount of that Tax. 
  

	12.	TAXES 

  

	12.1	Tax gross-up 

  

	 	(a)	All payments to be made to the Escrow Agent under this Agreement must be made without any set-off or counterclaim and free from any deduction or withholding for or on
account of any Tax; 

  

	 	(b)	If the Grantor is required by law to make any such deduction or withholding, it must: 

 

	 	(i)	pay to the Escrow Agent any additional amount as may be necessary to ensure that the Escrow Agent receives the full amount of the relevant payment as if that deduction
or withholding had not been made; and 

	 	(ii)	supply promptly to the Escrow Agent evidence satisfactory to the Escrow Agent that it has accounted to the relevant Authority for the withholding or deduction.

  

	12.2	Tax Indemnity 

 The
Grantor must indemnify the Escrow Agent against any Tax liability that has actually been suffered by the Escrow Agent in respect of this Agreement, except for where the Tax liability is on the net income of the Escrow Agent imposed by the law of the
jurisdiction under which the Escrow Agent is incorporated or treated as resident for Tax purposes, or the law of the jurisdiction in which the Escrow Agent’s lending office is located. 

 

	12.3	Deductions by Escrow Agent 

The Escrow Agent is authorized to: 
  

	 	(a)	make all such withholdings and deductions as are required by applicable law or regulation to be made by it from any payments required to be made by it under this
Agreement and to account to the relevant Authority in respect of the same; and 

  

	 	(b)	to retain in the Escrow Account such amount as it reasonably considers sufficient to cover any such Taxes. 

 

	13.	SURVIVAL 

 Clauses 7.3
(Exclusion of Liability), 7.4 (Indemnity), 10 (Expenses), 14 (Confidentiality), 20 (Rights of Third Parties) and 24 (Governing Law and Jurisdiction) will survive any termination of this Agreement or the
resignation or removal of the Escrow Agent. 
  

	14.	CONFIDENTIALITY 

 Each
Party must keep confidential any information supplied to it by or on behalf of any other Party in connection with this Agreement. However, each of the Escrow Agent and the Trustee is hereby authorized to disclose any information that it has
regarding the other Parties: 
  

	 	(a)	to any of its Affiliates; 

  

	 	(b)	to any of its or its Affiliates’ service providers or professional advisers, who are under a duty of confidentiality to the discloser to keep such information
confidential; 

  

	 	(c)	to any actual or potential transferee of its rights or obligations under this Agreement (or any of its agents or professional advisers) and any other person in
connection with a transaction or potential transaction in connection with this Agreement; 

  

	 	(d)	to any rating agency, insurer or insurance broker, or direct or indirect provider of credit protection; or 

 

	 	(e)	as required by any law or Authority, including, without limitation, to any governmental or regulatory authority having jurisdiction over it. 

 

	15.	RESIGNATION OF ESCROW AGENT 

  

	 	(a)	 Unless this Agreement is terminated earlier in accordance with the terms of this Agreement, the initial term of this Agreement will be from
April 29, 2011 to May 31, 2011. The Escrow Agent may resign and be discharged from its duties or obligations 

	 	 
under this Agreement at any time by giving ten Banking Days notice in writing of such resignation to the Grantor and the Trustee. 

 

	 	(b)	the Grantor, through its Authorized Signatories, will within five Banking Days of receipt of the Escrow Agent’s resignation notice, nominate and inform the Escrow
Agent in writing of a replacement escrow agent (together with details of the account to which the Escrow Property will be transferred), any such replacement escrow agent to be reasonably satisfactory to the Trustee. If the Escrow Agent does not
receive any nomination notice within such period, the Escrow Agent will nominate another bank or financial institution of reasonable repute and any such nomination and resulting appointment of a replacement escrow agent will be binding upon the
Parties. The Parties will forthwith take all necessary steps to novate this Agreement to the replacement escrow agent or the Grantor and the Trustee will enter into another escrow agreement with such replacement agent and discharge the Escrow Agent
from its obligations under this Agreement. 

  

	 	(c)	If the Grantor and the Trustee have not entered into any replacement escrow agreement or have failed to novate this Agreement by the expiry of five Banking Days
following the Escrow Agent’s resignation notice, the Escrow Agent will be relieved of its responsibilities and liabilities under this Agreement and shall continue to hold the balance of the Escrow Property until the Grantor and the Trustee,
through their Authorized Signatories, provide to the Escrow Agent details of a bank account for the Escrow Property to be remitted to. 

  

	 	(d)	The Grantor will pay to the Escrow Agent any fee due and owing to the Escrow Agent, plus any reasonable, documented and out-of-pocket costs and expenses the Escrow
Agent reasonably incurs in connection with the transfer of the Escrow Property to the replacement escrow agent. No compensation or fees paid to the Escrow Agent hereunder will be refundable notwithstanding the resignation, replacement or other
termination of the appointment of the Escrow Agent for any reason whatsoever. 

  

	16.	NOTICES 

  

	16.1	In writing 

 Any
communication to be made under or in connection with this Agreement must be in English and shall be made in writing and, unless otherwise stated, may, subject to Clause 6 (Instructions), be made by letter or fax. 

 

	16.2	Contact details 

  

	 	(a)	The contact details for each Party for all communications under this Agreement are: 

the Grantor: 

 iGATE Corporation 
 6528 Kaiser Drive 
 Fremont, California 94555 

Fax number: (510) 896-3010 
 Attention: General Counsel 
 with a copy to: 

Kirkland & Ellis LLP 
 601 Lexington Avenue 
 New York, New York 10022 

Fax number: (212) 446-6460 
 Attention: Joshua N. Korff 
 the Trustee: 

Wilmington Trust FSB 
 Corporate Capital Markets 
 50 South Sixth Street, Suite 1290 

Minneapolis, Minnesota 55402-1544 
 Fax number: (612) 217-5651 
 Attention: iGATE Corporation Administrator

 Standard Chartered Bank: 
 1 Basinghall Ave. 
 London, EC2v 5DD 

Fax number: +44 20 7885 8070 
 Attention: Robert Smith 
 or, as otherwise notified to the other Parties by not
less than five Banking Days’ notice. 
  

	16.3	Effectiveness 

  

	 	(a)	Any communication or document made or delivered to the Grantor or the Trustee in connection with this Agreement will only be effective: 

 

	 	(i)	if by way of fax, when receipt is acknowledged by the addressee; 

  

	 	(ii)	if delivered personally, at the time of delivery; and 

  

	 	(iii)	if sent by post, three Banking Days after posting, postage prepaid. 

 if a particular department or officer is specified as part of its address details provided under Clause 16.2 (Contact details), if addressed to that department or officer. 

 

	 	(b)	Any communication or document given to the Escrow Agent will be effective only when actually received by the Escrow Agent. 

 

	16.4	English Language 

  

	 	(a)	Any notice given under or in connection with this Agreement must be in English. 

	 	(b)	All other documents provided under or in connection with this Agreement must be: 

 

	 	(i)	in English; or 

  

	 	(ii)	if not in English, and if so required by the Escrow Agent, accompanied by a certified English translation and, in this case, the English translation will prevail unless
the document is a constitutional, statutory or other official document. 

  

	17.	ASSIGNMENT 

 No Party may
assign any of its rights or obligations under this Agreement without the prior consent of the other Parties. 
  

	18.	PARTIAL INVALIDITY 

 If
any provision (or any part of any provision) of this Agreement is or becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions (or
remaining parts of any provision) nor the legality, validity or enforceability of such provision (or parts of such provision) under the law of any other jurisdiction will in any way be affected or impaired. 

 

	19.	AMENDMENTS AND WAIVERS 

  

	19.1	Procedure 

 No term of
this Agreement may be waived or amended except in a writing signed by all Parties. 
  

	19.2	Waivers and remedies cumulative 

 The failure of any Party to exercise or delay in exercising any right or remedy under this Agreement will not operate as a waiver, nor will any single or partial exercise of any right or remedy prevent
any further or other exercise or the exercise of any other right or remedy. The rights and remedies provided in this Agreement are cumulative and not exclusive of any rights or remedies provided by law. 

 

	20.	RIGHTS OF THIRD PARTIES 

  

	 	(a)	A person who is not a party to this Agreement has no right to enjoy or enforce any benefit under it; and 

 

	 	(b)	the consent of any person who is not a party to this Agreement is not required to amend this Agreement. 

 

	21.	COUNTERPARTS 

 This
Agreement may be executed in any number of counterparts, and this has the same effect as if the signatures on the counterparts were on a single copy of this Agreement. 
  

	22.	ENTIRE AGREEMENT 

 This
Agreement constitutes the entire agreement of the parties with respect to the subject matter of this Agreement and supersedes all prior oral or written agreements in regards thereto. 

	23.	THE TRUSTEE 

 In
connection with its execution hereof and in the performance of its obligations hereunder, the Trustee shall be entitled to all of the rights, benefits, protections, indemnities and immunities afforded to it pursuant to the Indenture. 

 

	24.	GOVERNING LAW AND JURISDICTION 

  

	 	(a)	THIS AGREEMENT AND ANY DISPUTE ARISING HEREFROM SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. EACH OF THE PARTIES TO THIS
AGREEMENT WAIVES THE RIGHT TO TRIAL BY JURY. 

  

	 	(b)	Each Party irrevocably agrees that any legal suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated hereby
(“Related Proceedings”) may be instituted in the federal courts of the United States of America located in the City of New York or the courts of the State of New York in each case located in the Borough of Manhattan in the
City of New York (collectively, the “Specified Courts”), and irrevocably submits to the jurisdiction of such courts in any such suit, action or proceeding. The Parties further agree that service of any process, summons,
notice or document by mail to such Party’s address set forth above shall be effective service of process for any lawsuit, action or other proceeding brought in any such court. The Parties hereby irrevocably and unconditionally waive any
objection to the laying of venue of any lawsuit, action or other proceeding in the Specified Courts, and hereby further irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such lawsuit, action or other
proceeding brought in any such court has been brought in an inconvenient forum. 

 IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be executed by a duly authorized
officer as of the day and year first written above. 
  

					
	 iGATE CORPORATION,

as Grantor

		
	By:	 	/s/ Prashanth Idgunji
		 	Name:	 	Prashanth Idgunji
		 	Title:	 	Vice President Finance

  

					
	 WILMINGTON TRUST FSB,
 not in its individual capacity, but solely as Trustee

		
	By:	 	 /s/ Jane Schweiger

		 	Name:	 	Jane Schweiger
		 	Title:	 	Vice President

  

					
	 STANDARD CHARTERED BANK,
 as Escrow Agent

		
	By:	 	 /s/ Doug Davidson

		 	Name:	 	Doug Davidson
		 	Title:	 	Director, Transaction Banking

 SCHEDULE 1 
 FORM OF TRANSFER INSTRUCTION 
 To:    STANDARD CHARTERED BANK (the
“Escrow Agent”) 
 Attention: [            ] 

[            ], 2011 
 Re: Escrow Agreement 
 We refer to the Escrow Agreement dated as of April 29, 2011
among iGATE Corporation, Wilmington Trust FSB, as trustee, and the Escrow Agent (the “Escrow Agreement”). Terms defined in the Escrow Agreement have the same meaning in this notice. This is a Transfer Instruction. 

The Grantor hereby requests that the Escrow Agent transfer US$[            ] of the
Escrow Property from the Escrow Account by wire transfer of immediately available funds in accordance with the following wire transfer instructions: 
  

			
	 Beneficiary Bank:
	  	[            ]
		
	 SWIFT Code/Sort Code/(if sterling):
	  	[            ]
		
	 Beneficiary Name:
	  	[            ]
		
	 Account Number
	  	[            ]
		
	 Reference:
	  	[            ]
		
	 Amount:
	  	[in words]
		
	 Currency:
	  	[            ]
		
	 IBAN Number:
	  	[            ]

 IN WITNESS WHEREOF, the Grantor, through the undersigned officer, has signed this Transfer Instruction this
[    ] day of [                    ], 2011. 

 

			
	iGATE CORPORATION
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	ACKNOWLEDGED BY:
	
	 WILMINGTON TRUST FSB,
 not in its individual capacity, but solely as Trustee

		
	By:	 	 
		 	Name:
		 	Title:

 SCHEDULE 2 
 FORM OF ACQUISITION COMPLETION CERTIFICATE 
 This certificate, dated as of
                    , 2011, is being delivered to the Escrow Agent pursuant to Clause 5.1(b) (Authorization to Release) of the Escrow
Agreement dated as of April 29, 2011 (the “Escrow Agreement”), among iGATE Corporation (the “Grantor”), Standard Chartered Bank, as escrow agent (the “Escrow Agent”) and Wilmington Trust FSB,
as trustee (the “Trustee”). Capitalized terms used but not defined herein have the respective meanings specified in the Escrow Agreement. The Grantor hereby certifies the following: 

 

	 	(i)	all conditions precedent (other than the payment of consideration) to the consummation of the Acquisition (including the receipt of all governmental approvals or
consents necessary in connection with the Acquisition) have been satisfied or waived in accordance with the terms of the agreements governing the Acquisition; 

 

	 	(ii)	the Acquisition will be consummated on substantially the terms described in the Offering Memorandum substantially concurrently with the release of the Escrow Property
in the amount specified in such Transfer Instruction; 

  

	 	(iii)	the Escrow Property will be applied, directly or through intercompany transfers, in the manner described under the caption “Use of Proceeds” of the Offering
Memorandum and following such application, the Acquisition will be completed; 

  

	 	(iv)	no provision of any agreement governing the Acquisition has been amended or waived in a manner materially prejudicial to the Holders; and 

 

	 	(v)	no Default or Event of Default under the Indenture has occurred or will result from the release of the Escrow Property and application of the funds as described in
clause (iii) above. 

 IN WITNESS WHEREOF, the Grantor, through the undersigned officer, has signed this Certificate as of
the date first set out above. 
  

			
	iGATE CORPORATION
		
	By:	 	 
	Name:
	Title:

 SCHEDULE 3 
 FORM OF SPECIAL MANDATORY REDEMPTION CERTIFICATE 
 This certificate, dated as of
                    , 2011, is being delivered to the Escrow Agent pursuant to Clause 5.1(c) (Authorization to Release) of the Escrow
Agreement dated as of April 29, 2011 (the “Escrow Agreement”), among iGATE Corporation (the “Grantor”), Standard Chartered Bank, as escrow agent (the “Escrow Agent”) and Wilmington Trust FSB,
as trustee (the “Trustee”). Capitalized terms used but not defined herein have the respective meanings specified in the Escrow Agreement. The Grantor hereby certifies the following: 

 

	 	(vi)	[the Acquisition has not been completed on or prior to May 29, 2011] [the Acquisition will not be consummated] [a Special Mandatory Redemption (as such term is
defined in the Indenture) will be made in accordance with the terms and conditions of the Indenture]; and 

  

	 	(vii)	following the release of the Escrow Property, such Escrow Property will be applied to effect a Special Mandatory Redemption in accordance with Section 5.8 of the
Indenture. 

 IN WITNESS WHEREOF, the Grantor, through the undersigned officer, has signed this Certificate as of the date first
set out above. 
  

			
	iGATE CORPORATION
		
	By:	 	 
	Name:
	Title:

 SCHEDULE 4-1 
 AUTHORIZED SIGNATORIES – iGATE CORPORATION 
 iGATE CORPORATION 

 

									
	 Name:
	  	 Position
	  	 Specimen
signature
	  	 Email address
	  	 Phone number

(Landline and

mobile)

					
	 1.      Phaneesh Murthy
	  	Chief Executive Officer	  	*	  		  	
					
	 2.      Sujit Sircar
	  	Chief Financial Officer	  	*	  		  	
					
	 3.      Prashanth Idgunji
	  	Vice President—Finance	  	*	  		  	
					
	 4.      Mukund Srinath
	  	Vice President Legal & Corporate Secretary	  	*	  		  	
					
	 5.      Nagesh Kumar
	  	Senior Group Manager—Finance	  	*	  		  	

  

	*	Specimen signature is set forth in Annex A to this Schedule 4-1 

 Annex A 
 iGate Corporation – Specimen Signature 

 SCHEDULE 4-2 
 AUTHORIZED SIGNATORIES – TRUSTEE 
 WILMINGTON TRUST FSB 

 

									
	 Name:
	 	 Position
	  	 Specimen

signature
	  	 Email address
	  	 Phone number

(Landline and

mobile)

					
	 Jane Y. Schweiger
	 	Vice President	  		  		  	
					
	 Tim Mowdy
	 	Vice President	  		  		  	

 SCHEDULE 5 
 CONDITIONS PRECEDENT TO THE EFFECTIVE DATE 
  

	1.1	 A copy of resolution of the board of directors1 of the Grantor: 

  

	 	(a)	approving the terms of, and the transactions contemplated by, this Escrow Agreement and resolving that it execute, deliver and perform the Escrow Agreement;

  

	 	(b)	authorizing a specified person or persons to execute this Escrow Agreement on its behalf; and 

 

	 	(c)	authorizing a specified person or persons to be signatories to the Escrow Account. 

 

	1.2	A copy of the bylaws of the Trustee and duly adopted by the board of directors of the Trustee regarding the signing authority of the person or persons to execute this
Escrow Agreement and a copy of an assistant secretary’s certificate authorizing a specified person or persons to be signatories to the Escrow Account. 

 

	1.3	This Escrow Agreement, duly executed by the parties thereto. 

  

	1.4	A list of authorized signatories as specified in Schedule 4. 

  

	1.5	Evidence required by the Escrow Agent to satisfy its know your customer requirements. 

 

	1.6	A copy of any other authorization or other document, opinion or assurance that the Escrow Agent considers to be necessary or desirable (if it has notified the Grantor
and/or the Trustee as applicable). 

  

	1 	Board resolution to set out: (i) approval of Agreement, (ii) Specimen signatures, (iii) who is authorized to operate the account and sign payment
instructions. 

 SCHEDULE 6 
 Form of Enforcement Notice 
 From: The Trustee 

Wilmington Trust FSB, as Trustee 
 Corporate
Capital Markets 
 50 South Sixth Street, Suite 1290 
 Minneapolis, Minnesota 55402-1544 
 Fax number: (612) 217-5651 

To: The Escrow Agent 
 Standard Chartered Bank,
as Escrow Agent 
 1 Basinghall Ave. 

London, EC2v 5DD 
 Fax number: +44 20 7885
8070 
 And: The Company 
 iGATE
Corporation 
 6528 Kaiser Drive 

Fremont, California 94555 
 Fax number:
(510) 896-3010 

                    , 2011

 Dear Sirs, 
 ENFORCEMENT NOTICE

 We refer to the escrow agreement dated April 29, 2011 between iGATE Corporation, Wilmington Trust FSB, as Trustee and Standard
Chartered Bank, as Escrow Agent (the “Escrow Agreement”). 
 Capitalised terms used but not defined in this Enforcement Notice have
the respective meanings specified in the Escrow Agreement. 
 In accordance with the terms of Clause 5.3 (Enforcement Event under the Account
Security Deed) of the Escrow Agreement and the applicable provisions of the Indenture and the Account Security Deed we hereby notify you that an Enforcement Event as defined under the Account Security Deed has occurred and the Escrow Property are
therefore to be [held to the order of the Trustee] [immediately transferred to the Trustee in accordance with the following wire instructions: [insert wire instructions]]. 
 Yours faithfully 
 Wilmington Trust FSB, 
 not in its individual capacity, 
 but solely as Trustee 

 

			
		
	By:	 	 
		 	Name:
		 	Title:Account Security Deed

 Exhibit 10.2 
 EXECUTION VERSION 
 DATED 3 MAY 2011 

IGATE CORPORATION AS CHARGOR 
 AND 
 WILMINGTON TRUST FSB AS CHARGEE 

 
  

ACCOUNT SECURITY DEED 
  

 

 CONTENTS 

 

							
	Clause	  	 	  	Page	 
			
	 2.
	  	Covenant to pay	  	 	1	  
			
	 3.
	  	Charge	  	 	1	  
			
	 4.
	  	Operation of the Charged Account	  	 	1	  
			
	 5.
	  	Chargor representations, Warranties and Undertakings	  	 	2	  
			
	 6.
	  	Scope of the Charge	  	 	3	  
			
	 7.
	  	Discharge of the Charge	  	 	4	  
			
	 8.
	  	Chargee’s Duties	  	 	4	  
			
	 9.
	  	Enforcement and Use of Proceeds	  	 	4	  
			
	 10.
	  	Expenses	  	 	5	  
			
	 11.
	  	Chargee as Trustee	  	 	5	  
			
	 12
	  	Counterparts	  	 	5	  
			
	 13.
	  	Applicable Law	  	 	6	  
		
	Schedule 1 Description of the Charged Account	  	 	9	  

 THIS DEED is made on 3 May 2011 
 BETWEEN: 
  

	(1)	iGATE Corporation, a corporation incorporated under the laws of the Commonwealth of Pennsylvania (the “Chargor”); and 

 

	(2)	Wilmington Trust FSB, not in its individual capacity, but solely in its capacity as trustee for and on behalf of itself and the holders of the Notes under and in
relation to an indenture as described more particularly in the Escrow Agreement (as such term is defined below) (the “Chargee”). 

 NOW THEREFORE IT IS HEREBY AGREED as follows: 
  

	 	1.1	This Deed is the Account Security Deed referred to in the escrow agreement entered into on or around the date of this Deed between the Chargor, the Chargee and Standard
Chartered Bank (the “Escrow Agreement”). 

  

	 	1.2	Capitalised terms in this Agreement shall, except where the context otherwise requires and save where otherwise defined in this Agreement, have the meanings given to
them in the Escrow Agreement. 

  

	2.	Covenant to pay 

 The
Chargor covenants with the Chargee to pay or discharge all amounts that may be payable by it from time to time under the Indenture and the Notes (the “Secured Liabilities”) in accordance with their respective terms. 

 

	3.	Charge 

  

	 	3.1	The Chargor by way of first fixed security for the payment or discharge of the Secured Liabilities hereby charges to and in favour of the Chargee by way of first fixed
charge and with full title guarantee all of its right, title and interest in each credit balance (the “Credit Balances”) from time to time standing to the credit of the bank account details of which are set out in Schedule 1 to this
Deed (the “Charged Account”) and to the Charged Account (the Credit Balances and the Charged Account, together the “Charged Assets”). 

 

	 	3.2	The Chargor represents and warrants to the Chargee that Schedule 1 to this Deed contains an accurate and complete description of the Charged Account.

  

	 	3.3	The terms of the documents under which the Secured Liabilities arise and of any side letters relating thereto between the Chargor and any of the entities to which such
Secured Liabilities are owed are incorporated herein to the extent required for any purported disposition of the Charged Assets contained in this Deed to be a valid disposition in accordance with section 2(1) of the Law of Property (Miscellaneous
Provisions) Act 1989. 

  

	4.	Operation of the Charged Account 

  

	 	4.1	The parties to this Deed acknowledge and agree that the Charged Assets may only be dealt with in accordance with the terms of the Escrow Agreement and, in particular,
that payments from the Charged Account may only be made in accordance with the terms of the Escrow Agreement. 

  
 - 1 -

	 	4.2	On the date of this Deed, the Chargor shall, by way of entry into the Escrow Agreement, be deemed to notify the Escrow Agent that the Charged Account is charged
pursuant to this Deed and of the arrangements under this Deed, and the Escrow Agent shall, by way of entry into the Escrow Agreement, be deemed to acknowledge receipt of the notification and acceptance of the terms thereof. 

 

	5.	Chargor representations, Warranties and Undertakings 

  

	 	5.1	The Chargor represents and warrants to the Chargee that: 

  

	 	(a)	the Chargor is duly incorporated with limited liability and validly existing under the laws of the Commonwealth of Pennsylvania and (i) is duly qualified to do
business in every jurisdiction where the nature of its business requires it to be so qualified and (ii) is duly qualified to do business in all other jurisdictions where the nature of its business requires it to be so qualified;

  

	 	(b)	the execution, delivery and performance by the Chargor of this Deed and any other documents to be delivered by it hereunder (i) are within the Chargor’s
corporate powers, (ii) have been duly authorised by all necessary corporate action, (iii) do not contravene (A) the Chargor’s articles of incorporation, (B) any law, rule or regulation applicable to the Chargor, (C) any
material contractual restriction binding on or affecting the Chargor or its property or (D) any order, writ, judgement, award, injunction or decree binding on or affecting the Chargor or its property, and (iv) do not result in or require
the creation of any encumbrance upon or with respect to any of its properties other than with respect to the Charged Account. This Deed has been duly executed and delivered by the Chargor; 

 

	 	(c)	the Chargor will own the Charged Assets free and clear of any liens, pledges, charges, privileges or any other encumbrances, other than the security created herein;

  

	 	(d)	all information in respect of the Charged Assets set out in this Deed or which shall be subsequently provided to the Chargee pursuant to this Deed is, or as the case
may be, shall be materially accurate and complete as at the date provided to the Chargee; 

  

	 	(e)	all Charged Assets owing to it are freely assignable and are capable of being charged hereunder without the consent of any third party and are free and clear of any
liens, pledges, charges or any other encumbrances; 

  

	 	(f)	there is no floating charge in existence on the Charged Account nor any mandate with a view to the creation thereof; 

 

	 	(g)	the security created hereby does not violate any contractual or other obligation binding upon the Chargor; and 

  
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	 	(h)	this Deed constitutes legally valid and binding obligations of the Chargor, enforceable in accordance with its terms and creates those encumbrances it purports to
create. 

  

	 	5.2	The Chargor undertakes to the Chargee that the representations and warranties contained in Clause 5.1 shall at all times remain true and correct until all Secured
Liabilities shall have been finally discharged or until the security created hereunder is released in accordance with Clause 7. 

  

	 	5.3	The Chargor hereby undertakes to the Chargee as follows: 

  

	 	(a)	to the extent that information in respect of the Charged Assets is provided to the Chargor by third parties, the Chargor shall provide such information in the same form
to the Chargee; 

  

	 	(b)	it shall not dispose of the Charged Assets, shall not create any other pledge, charge or encumbrance, other than the security hereby created, in respect of the Charged
Assets (irrespective of whether ranking behind the security created hereby) and shall not permit the existence of any such pledge, charge or encumbrance in respect of the Charged Assets other than the security hereby created;

  

	 	(c)	it shall cooperate with the Chargee and sign or cause to be signed all such further documents and take all such further actions that may be necessary, or that the
Chargee may reasonably request, to perfect and protect the security created hereby whether under English law or under any other law that may be applicable, or to enable the Chargee to exercise and enforce its rights and remedies under this Deed; and

  

	 	(d)	the Chargor shall not close the Charged Account save as contemplated under the Escrow Agreement. 

 

	6.	Scope of the Charge 

  

	 	6.1	The security created hereby shall be a continuing security, shall remain in force until released in accordance with Clause 7, and shall in particular not be discharged
by reason of the circumstance that there is at any time no Secured Liability currently owing from the Chargor. 

  

	 	6.2	The security created hereby is in addition to and shall not impair or prejudice the other personal or collateral security that the Chargee now has or in the future will
have as security for the Secured Liabilities. The Chargee is entitled at its full discretion to release, reduce, amend or enforce any other encumbrances or guarantees and it may do so without notice to the Chargor and this will not reduce the
obligations of the Chargor hereunder in any way. 

  

	 	6.3	The security created hereby shall not be discharged by the entry of any Secured Liabilities into any current account, in which case the security created hereby shall
secure any provisional or final balance of such current account up to the amount in which such Secured Liabilities were entered therein. 

  
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	 	6.4	The Chargee may at any time without discharging or in any way affecting this Charge: 

 

	 	(a)	grant the Chargor any time or indulgence; 

  

	 	(b)	concur in any moratorium of the Secured Liabilities; 

  

	 	(c)	amend the terms and conditions of the Secured Liabilities; 

  

	 	(d)	abstain from taking or perfecting any other security and discharge any other security; or 

 

	 	(e)	abstain from exercising any right or recourse or from proving or claiming any debt and waive any right or recourse. 

 

	7.	Discharge of the Charge 

  

	 	7.1	The Chargee agrees to release the security created hereby upon the release of all of the Escrow Property in accordance with the terms of Clause 5 (Release of Escrow
Property) of the Escrow Agreement. 

  

	 	7.2	Following release of the security pursuant to 7.1 above, the Chargee shall cooperate with all reasonable requests from the Chargor in order to promptly remove all
registrations and filings in respect of such security (including signing such deeds of release and official forms to effect or record release as may be reasonably requested by the Chargor). 

 

	 	7.3	Any release of the security created hereby shall be null and void without effect if any payment received by the Chargee and applied toward satisfaction of all or part
of the Secured Liabilities (a) is avoided or declared invalid as against the creditors of the maker of such payment, or (b) becomes repayable by the Chargee to a third party, or (c) proves not to have been effectively received by the
Chargee. 

  

	8.	Chargee’s Duties 

The Chargee shall not be liable for any acts or omissions including, without limitation, acts or omissions with respect to the Charged
Assets, except in case of its gross negligence or wilful misconduct. The Chargee shall be under no obligation to take any steps necessary to preserve any rights in the Charged Assets against any other parties but may do so at its option, and all
reasonable expenses incurred in connection therewith shall be for the account of the Chargor and shall be part of the Secured Liabilities. 
  

	9.	Enforcement and Use of Proceeds 

  

	 	9.1	The power of sale or other disposal or other powers conferred on the Chargee under this Deed shall operate as a variation and extension of the statutory power of sale
and other powers conferred on mortgagees under section 101 of the Law of Property Act 1925 and such powers shall arise on the date of this Deed free from the restrictions imposed by section 103 of the Law of Property Act 1925, which shall apply to
the charges created hereunder. 

  
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	 	9.2	Upon the acceleration of the maturity of all or part of the Notes (an “Enforcement Event”), the Chargee may (but is not required to) serve a notice on
the Chargor and enforce at its discretion the security created hereby as permitted by law and this Deed. 

  

	 	9.3	The Chargor acknowledges the right of the Chargee to enforce the Charge without the need for a prior authorisation from the court, in accordance with the terms of this
Deed. 

  

	 	9.4	The Chargee will apply all proceeds of enforcement of the security created hereby to the Secured Liabilities in accordance with the terms of the Indenture and the Notes
(and such other applicable ancillary or supplementary transaction documentation as may be entered into by the relevant parties). The right to thus apply the proceeds against the Secured Liabilities shall apply, irrespective of currency denominations
of any such proceeds or the amounts standing from time to time to the credit of the Charged Account. The Chargee shall be entitled to use an exchange rate published by any major commercial bank as the exchange rate prevailing for the relevant
currency on the date of receipt of the enforcement proceeds. 

  

	 	9.5	The Chargor by way of security irrevocably appoints the Chargee as its attorney to do all acts and things which the Chargor is obliged to do under this Deed but has
failed to do and in its name and on its behalf to exercise any right conferred on the Chargee in relation to the Charged Assets under this Deed or by law after such right has become exercisable. The Chargor agrees to ratify and confirm whatever any
such attorney shall do in the exercise or purported exercise of the power of attorney granted under this clause 9.5. 

  

	 	9.6	The Chargor shall, at its own expense, do all such acts and things as the Chargee may require to give effect to, maintain, protect, perfect and facilitate the
realisation of the security created, or intended to be created, by or pursuant to this Deed. 

  

	10.	Expenses 

 All reasonable
and properly documented expenses and duties in connection with this Deed, in particular with regard to the establishment and perfection of the security created hereby and the granting of any release, shall be borne by the Chargor in accordance with
the terms of the Escrow Agreement. 
  

	11.	Chargee as Trustee 

 In
connection with its execution hereof and in the performance of its obligations hereunder, the Chargee shall be entitled to the rights, benefits, protections, indemnities and immunities afforded it pursuant to the Indenture. 

 

	12.	Counterparts 

 This Deed
may be executed in any number of counterparts, and this has the same effect as if the signatures on the counterparts were on a single copy of the Deed. 

  
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	13.	Applicable Law 

  

	 	13.1	This Deed and all non-contractual obligations arising out of or in connection with it shall be governed by, and construed in accordance with, English law.

 Without prejudice to any other mode of service allowed under any relevant law, the Chargor irrevocably appoints
CT Corporation of 116 Pine Street, Suite 320, Harrisburg, PA 17101 as its agent for the service of process before the English courts in connection with this Deed. 

  
 - 6 -

 IN WITNESS WHEREOF the parties to this Deed have executed this Deed on the date specified above with
affect from that date. 
  

					
	The Chargor	 		  	
			
	EXECUTED and DELIVERED as a DEED	 	)	  	
	by iGATE Corporation	 	)	  	
	a company incorporated in	 	)	  	
	the Commonwealth of Pennsylvania, acting by	 	)	  	
		 	)	  	/s/ Sujit Sircar
	being a person who, in accordance with the	 	)	  	
	laws of its territory of incorporation,	 	)	  	
	is acting under the	 	)	  	
	authority of the company	 	)	  	

  

	
	Witness: /s/ Suesh Nair
	
	Name: Suesh Nair
	
	Address:

  
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	The Chargee	  		  	
			
	EXECUTED and DELIVERED as a DEED	  	)	  	
	by Wilmington Trust FSB	  	)	  	/s/ Jane Schweiger
	in its capacity as trustee for and on behalf	  	)	  	
	of itself and the holders of the Notes, acting by	  	)	  	    Jane Schweiger
		  	)	  	
	being a person who, in accordance with the	  	)	  	  Vice President
	laws of its territory of organization,	  	)	  	
	is acting under the	  	)	  	
	authority of the savings bank	  	)	  	

  

			
	Witness:	 	/s/ Timothy Moudy
		
	Name:	 	Timothy Moudy
		
	Address:	 	50 South Sixth Street, Suite 1290
		 	Minneapolis, MN 55402

  
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 SCHEDULE 1 
 DESCRIPTION OF THE CHARGED ACCOUNT 
  

							
	 	  	Name	  	 Account Number
	  	 Location

	1.	  	iGATE
CORP
ESCROW
ACCOUNT	  		  	Standard Chartered Bank, London

  
 - 9 -

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