Document:

Guarantee and Indemnity, dated as of August 26, 2004

  
 Exhibit 10.9

  
 DATED 26 August 2004 
  

	(1)	NORWICH UNION LIFE HOLDINGS LIMITED 

  

	(2)	EXLSERVICE HOLDINGS, INC 

  
 GUARANTEE AND INDEMNITY 
  

  
 LIST OF CONTENTS

  

					
	 Clause

	  	 	  	Page

	 1
	  	DEFINITIONS AND INTERPRETATION	  	 
	 2
	  	GUARANTEE AND INDEMNITY	  	 
	 3
	  	PAYMENTS	  	 
	 4
	  	REPRESENTATIONS AND WARRANTIES	  	 
	 5
	  	COVENANTS	  	 
	 6
	  	GENERAL PROVISIONS	  	 
	 7
	  	LAW, JURISDICTION AND SERVICE	  	 

  

 GUARANTEE AND INDEMNITY 
  

Dated: 26 August 2004 
  
 BETWEEN: 
  

	(1)	Norwich Union Life Holdings Limited, a company registered in England with registered number 2403518 and whose registered office is at 2 Rougier Street, York YO90 1UU (the
“Guarantor”); and 

  

	(2)	Exlservice Holdings, Inc. a company registered in the State of Delaware and whose principal office is at 350 Park Avenue, 10th Floor, New York, NY10022 (“EXL Holdings
(US)”). 

  

	1	DEFINITIONS AND INTERPRETATION 

  
 In this Deed, unless inconsistent with the context or otherwise specified: 
  

	1.1	the following expressions shall have the following meanings: 

  

					
	 “Client”
	 	:	  	Norwich Union Customer Services (Singapore) Pte Ltd, a company registered in Singapore with registered number 20030345R whose registered office is at 4 Shenton Way, #27-02 SGX Centre 2,
Singapore 068807;
			
	 “this Deed”
	 	 :
	  	this Guarantee and Indemnity, as varied from time to time in accordance with its terms;
			
	 “Guaranteed Obligations”
	 	 :
	  	the due and punctual discharge by the Client of all its payment obligations under or in connection with the Relevant ISWO or the ISFA (insofar as those obligations relate to a Relevant ISWO)
including, for the avoidance of doubt, any obligations of the Client to pay damages or compensation to EXL Holdings (US) pursuant to the ISFA;
			
	 “ISFA”
	 	 :
	  	the Insurance Services Framework Agreement dated the same day as this Deed between the Client and EXL Holdings (US);
			
	 “Relevant ISWO”
	 	 :
	  	any Insurance Services Work Order entered into between the Client and EXL Holdings (US) pursuant to the ISFA and whether entered into prior to, or on or about the date of this Deed or
subsequently and which identifies Norwich Union Life Services Limited as the “Client UK” for the purposes of that Work Order;
			
	 “Umbrella Agreement”
	 	 :
	  	an agreement between the Client, EXL Holdings (US), EXL India and SPV dated the same day as this Deed.

  

	1.2	references to clauses are to clauses of this Deed; 

  

	1.3	words importing gender include each gender; 

  

	1.4	references to persons include bodies corporate, firms and unincorporated associations and that person’s legal personal representatives and successors; 

 

	1.5	the singular includes the plural and vice versa; 

  

	1.6	clause headings are included for the convenience of the Parties only and do not affect its interpretation; 

  

	1.7	references to statutory provisions shall be construed as references to those provisions as respectively amended, consolidated, extended or re-enacted from time to time and shall be
construed as including references to the corresponding provisions of any earlier legislation directly or indirectly amended, consolidated, extended or replaced by those statutory provisions or re-enacted and shall include any orders, regulations,
instruments or other subordinate legislation made under the relevant statute; 

  

	1.8	references to any English legal or accounting term for any action, remedy, method of judicial proceeding, legal or accounting document, legal or accounting status, insolvency
proceeding, event of incapacity, court, governmental or administrative authority or agency, accounting body, official or any legal or accounting concept, practice or principle or thing shall in respect of any jurisdiction other than England be
deemed to include what most approximates in that jurisdiction to the English legal or accounting term concerned; and 

  

	1.9	any undertaking by either of the parties not to do any act or thing shall be deemed to include an undertaking not to permit or suffer or assist the doing of that act or thing.

  

	2	GUARANTEE AND INDEMNITY 

  

	2.1	In consideration of EXL Holdings (US) agreeing to enter into each Relevant ISWO the Guarantor unconditionally and guarantees to EXL Holdings (US) the Guaranteed Obligations and
promises to pay on demand each sum which the Client is liable to pay in respect of the Guaranteed Obligations in the event that the Client does not so pay PROVIDED THAT the total amounts recoverable by EXL Holdings (US) from the Guarantor in respect
of the Guaranteed Obligations shall not exceed £8,000,000 (eight million pounds sterling). 

  

	2.2	Without prejudice to the rights of EXL Holdings (US) against the Client as primary obligor, the Guarantor shall be deemed a principal debtor in respect of its obligations under this
Deed and not merely a surety and, accordingly, the Guarantor shall not be discharged nor shall its liability hereunder be affected by any act or thing or means whatsoever by which its said liability would not have been discharged if it had been a
principal debtor. 

  

	2.3	Save as provided in clause 2.1 above and clauses 2.6, 2.7 and 2.8 below, this Deed shall be a continuing guarantee. EXL Holdings (US) may make claims and demands under this Deed
without limit of number. 

  

	2.4	The Guarantor’s liability to EXL Holdings (US) under this Deed shall not be discharged, impaired or affected by reason of: 

  

	 	2.4.1 	Any amendment to or variation of the terms of any Relevant ISWO or the ISFA unless such amendment or variation expressly provides for the discharge, waiver or reduction of the
Client’s liability in respect of a Guaranteed Obligation; 

  

	 	2.4.2 	any intermediate payment or discharge of the Client’s obligations to EXL Holdings (US) under the Relevant ISWO or of any of the Guaranteed Obligations hereunder;

  

	 	2.4.3 	any time, waiver or indulgence which EXL Holdings (US) may grant to or composition EXL Holdings (US) may enter into with the Client or any other person; 

  

	 	2.4.4 	any legal limitation, disability or incapacity or other circumstances relating to the Client, or any amendment to or variation of any of the terms of the Relevant ISWO or the ISFA
or of any Guaranteed Obligation; 

  

	 	2.4.5 	any defect in the obligations of the Client; 

  

	 	2.4.6 	 the liquidation, dissolution, amalgamation, reconstruction or reorganisation of the Client or the appointment of a receiver, administrative receiver or
administrator of any of the Client’s assets (or the equivalent of any of such matters occurring in any other jurisdiction) or the 

  

	 	 
occurrence of any circumstance affecting the liability of the Client to discharge any Guaranteed Obligation; 

  

	 	2.4.7 	any compromise or arrangement sanctioned under the Insolvency Act 1986 or Section 425 of the Companies Act 1985 (whether EXL Holdings (US) has agreed to such compromise or
arrangement or not) and where by virtue of any such compromise or arrangement the liability of the Client to EXL Holdings (US) or any part of such liability is transferred to any other person this Deed shall take effect as if the expression the
“Client” included such other person; 

  

	 	2.4.8 	any agreement with the Client and EXL Holdings (US) whereby any person assumes all or any part of the liability of the Client to EXL Holdings (US) in substitution for the Client in
which case this Deed shall take effect as if the expression the “Client” included such person; or 

  

	 	2.4.9 	any other act, omission, matter or circumstance whereby, but for this provision, the Guarantor would or might be discharged (in whole or in part) from liability under this Deed

  
 notwithstanding that the same may have been
known to or discoverable by EXL Holdings (US). 
  

	2.5	The Guarantor hereby agrees to indemnify EXL Holdings (US) upon demand against all losses, claims, costs, charges and expenses (and any taxes thereon) to which it may be subject or
which it may incur whilst acting in good faith under or pursuant to the Relevant ISWO or this Deed as a result of any default by the Client in performing any Guaranteed Obligation or by the Guarantor in performing this Deed.

  

	2.6	Notwithstanding anything to the contrary, this Deed shall terminate: 

  

	 	2.6.1 	in the event that the ISFA is terminated for whatever reason and all the Guaranteed Obligations have been paid to EXL Holdings (US); or 

  

	 	2.6.2 	in accordance with clause 3.5 of the Umbrella Agreement on the termination of that Agreement. 

  

	2.7	At any time after the termination of the ISFA for any reason, the Guarantor shall be entitled to serve written notice on EXL Holdings (US) stating that it reasonably believes that
all of the Guaranteed Obligations to have been discharged. Within 30 days of receipt of such notice EXL Holdings (US) shall serve a reply on the Guarantor, specifying in as much detail as it is reasonably able to give, which of the Guaranteed
Obligations is still outstanding, failing which this Deed, and all of the Guarantor’s obligations hereunder, shall forthwith terminate. 

  

	2.8	The Guarantor shall not be liable for any claim for payment due under this Deed unless EXL Holdings (US) has given written notice of such claim to the Guarantor within 12 months of
the termination for whatever reason, of the Relevant ISWO to which such claim relates or within 12 months of the termination for whatever reason of the ISFA. 

  

	3	PAYMENTS 

  

	3.1	All payments made by or on behalf of the Guarantor hereunder shall be made: 

  

	 	3.1.1 	without set-off or counterclaim or any condition or restriction; and 

  

	 	3.1.2 	free and clear of any withholding or deduction on account of any taxes 

  
 If the Guarantor is compelled by law to make such withholding or deduction, the amounts payable by it shall be increased to such extent that the net
amounts received by EXL Holdings (US) after such withholdings or deductions shall equal the full amount provided for in this Deed. The Guarantor shall account to the appropriate authority for any taxes withheld or deducted and shall not later than
30 days after each deduction and/or withholding provide EXL Holdings (US) with such evidence that it has done so as may be required by EXL Holdings (US). If payment of any amount by the Guarantor under this Deed is initially made on the basis that
it is not subject to taxes in the hands of EXL Holdings (US) and it is subsequently determined that it is, or vice versa, such adjustment shall be 

  

 
made between EXL Holdings (US) and the Guarantor as EXL Holdings (US) shall determine to be appropriate in order to restore its after-tax position to that
which it would have been had the adjustment not been necessary. 
  

	3.2	All payments due under this Deed to EXL Holdings (US) shall be calculated and made in immediately available funds in the currency and the manner provided for in the ISFA.

  

	4	REPRESENTATIONS AND WARRANTIES 

  
 The Guarantor represents and warrants to EXL Holdings (US) that it has full power, authority and right to enter into and carry out its obligations
hereunder and that this Deed constitutes the valid, legally binding and enforceable obligations of the Guarantor. 
  

	5	COVENANTS 

  
 The Guarantor agrees, acknowledges and declares that: 
  

	5.1	if any payment received by EXL Holdings (US) in respect of monies due or owing to EXL Holdings (US) from the Client shall, on the subsequent insolvency or liquidation of the Client
be avoided under any laws relating to bankruptcy, insolvency or liquidation and the amount thereof repaid by EXL Holdings (US), such payment shall not be considered as discharging or diminishing the liability of the Guarantor and this Deed shall
continue to apply as if such payment had at all times remained owing by the Client to EXL Holdings (US) and the Guarantor shall indemnify EXL Holdings (US) in respect thereof; and 

  

	5.2	after demand has been made by EXL Holdings (US) hereunder and until the amount so demanded has been paid in full EXL Holdings (US) may take such action as it (in its own discretion)
considers appropriate against the Client or otherwise to recover all sums due and payable to it under the Guaranteed Agreements, the Guarantor however remaining liable under this Deed for performance of the Guaranteed Obligations.

  

	6	GENERAL PROVISIONS 

  

	6.1	A certificate or determination of EXL Holdings (US) as to the money and liabilities for the time being due to or incurred by EXL Holdings (US) and payable by the Guarantor under
this Deed shall be conclusive (save in the case of manifest error) of the liability of and binding upon the Guarantor. 

  

	6.2	This Deed shall be binding upon the Guarantor and its successors. However, the Guarantor shall not be able to assign its obligations hereunder to any other person without the prior
consent of EXL Holdings (US), such consent not to be unreasonably withheld or delayed in the case of assignment to any Associated Company (as that term is defined in the Umbrella Agreement) having a net asset value which is not more than 20% less
than the net asset value of the Guarantor at the relevant time. 

  

	6.3	EXL Holdings (US) may not without the prior specific written approval of the Guarantor (which in its absolute discretion the Guarantor shall be entitled to withhold), assign or
transfer any of its rights or obligations under this Deed to any of the companies listed in Schedule 8 of the ISFA or any holding company, subsidiary or other subsidiary of a holding company of a company listed therein.:- 

 

	6.4	No delay or failure by the Guarantor to exercise any of its powers, rights or remedies under this Deed shall operate as a waiver of them, nor shall any single or partial exercise of
any such powers, rights or remedies preclude any other or further exercise of them. The remedies provided in this Deed are cumulative and not exclusive of any remedies provided by law. No waiver by the parties of any provision of this Deed shall be
deemed to be a waiver of any subsequent breach of that or any other provision of this Deed. 

  

	6.5	Save as provided in clause 2.7, no failure by EXL Holdings (US) to give any notice which it is otherwise required to give under this Deed or in respect of any of the Guaranteed
Obligations shall affect or impair the liability of the Guarantor to EXL Holdings (US) under this Deed. 

  

	6.6	If any term or provision hereof shall be determined to be or become invalid, illegal or unenforceable, all other terms and provisions hereof shall nevertheless remain valid and
effective and shall be enforceable to the fullest extent permitted by law. 

  

	6.7	Any notice or other communication to be given under this Deed shall either be delivered by hand or sent by first class post pre-paid recorded delivery (or by air mail if overseas)
or by a generally recognised international courier service (with relevant fees prepaid) or by facsimile transmission (provided that, in the case of facsimile transmission, the notice is confirmed by being delivered by hand or sent by first class
post or by a recognised international courier service within two Business Days after transmission) as follows: 

  

	 	6.7.1 	for the Guarantor to: 

  

			
	 Title:
	  	Director of Legal Services
		
	 Address:
	  	 Norwich Union
 Wellington Row 4
 York
 YO90 1WR

		
	 Fax Number:
	  	01904 452856

  

	 	6.7.2	  for EXL Holdings (US) to: 

  

			
	 Name:
	  	Rohit Kapoor, President and CFD
		
	 Address:
	  	 350 Park Avenue
 10th Floor
 New York
 NY 10022

  
 A Party may change
the address or facsimile number or the name of the person for whose attention notices are to be addressed by serving a notice on the other. 
  

	6.8	In the absence of evidence of earlier receipt, all notices shall be deemed to have been served: 

  

	 	6.8.1	if delivered by hand, at the time of delivery; 

  

	 	6.8.2	if sent by post within the UK, two Business Days after the envelope containing it was posted; 

  

	 	6.8.3	if sent by international post, seven Business Days after the envelope containing it was posted; 

  

	 	6.8.4	if sent (with relevant fees prepaid) by a generally recognised international courier service, three Business Days after the envelope containing it was delivered to the relevant
international courier; and 

  

	 	6.8.5	if sent by facsimile, on completion of transmission; 

  
 provided that where such delivery or transmission occurs after 5.00 pm on a Business Day or on a day which is not a Business Day, service shall be deemed
to occur at 9.00 am on the next following Business Day. 
  

	6.9	Any waiver by EXL Holdings (US) of any of the terms of this Deed or any consent given by EXL Holdings (US) under this Deed shall only be effective if given in writing and then only
for the purpose for which and upon the terms under which it is given. 

  

	6.10	The rights, powers and remedies provided in this Deed are cumulative and not exclusive of any rights, powers and remedies provided by law and may be exercised from time to time as
often as EXL Holdings (US) may (in its absolute discretion) consider expedient. 

  

	7	LAW, JURISDICTION AND SERVICE 

  

	7.1	This Agreement is governed by and shall be construed in accordance with English law. 

  

	7.2	Any dispute or difference arising out of or in connection with this Deed shall be determined by the appointment of a single arbitrator to be agreed between the Parties, or failing
agreement within fourteen days, after either Party has given to the other a written request to concur in the appointment of an arbitrator, by an arbitrator to be appointed by the President, Vice President or Registrar of the London Court of
International Arbitration (“LCIA”) and such arbitration shall be conducted in accordance with the order of the LCIA. 

  

 IN WITNESS whereof this Deed has been executed and delivered on the day and year first above written 

 

							
	 EXECUTED AS A DEED on behalf of
	 	 	 	 	 	 
	Guarantor	 	 )
	 	 Authorised Signatory
	 	/s/ Michael Ulmsen
	 	 	 )
	 	 	 	 
	 	 	 )
	 	 	 	 
	 	 	 )
	 	 Authorised Signatory
	 	/s/ Peter Robert Hayes
				
	 EXECUTED AS A DEED on behalf of
	 	 	 	 	 	 
	EXL Holdings (US)	 	 )
	 	 Director
	 	 
	 	 	 )
	 	 	 	 
	 	 	 )
	 	 	 	 
	 	 	 )
	 	 Director/SecretaryMaster Agreement, effective as of November 1, 2002

  
 Exhibit 10.10

  
 MASTER AGREEMENT 
  
 This Master Agreement by and between ExIService Holdings, Inc. (“Provider”), a
corporation registered in Delaware and located at 350 Park Avenue, 10th Floor, New York, NY 10022, and Dell Products L.P.,
a Texas limited partnership, located at One Dell Way, Round Rock, Texas 78682 is effective as of November 1, 2002, (“Effective Date”). This Master Agreement and any Schedules, Addenda, Exhibits, and Attachments, as so identified and
agreed, shall be hereinafter collectively referred to as the “Agreement.” 
  

	1.	INTRODUCTION 

  
 This Agreement sets forth the terms and conditions under which Dell Products L.P. and Dell Computer Corporation’s (“DCC”) subsidiaries and affiliates (hereinafter collectively referred to as
“Dell”) shall purchase products and/or services from Provider (the “Products”). For the purpose of this Agreement, Products include any software and/or documentation accompanying the sale of the Product, or any necessary
deliverables provided in performance of the services. The terms and conditions of this Agreement shall apply to all purchase orders (Dell PO(s)”) issued by Dell for the purchase of Products. 
  

	2.	TERM 

  
 The initial term of this Agreement shall be three (3) years beginning on the Effective Date. This Agreement will automatically renew for additional successive one-year terms unless one party informs the other of its
intent to let the Agreement expire one hundred and eighty (180) days before the end of the then-current term. 
  

	3.	PAYMENT 

  
 3.1 Unless otherwise agreed in writing, all payments shall be stated (and payments made) in United States dollars and are exclusive of applicable sales, use or similar taxes for which Dell shall be obligated to pay
Provider. Dell will have no liability for any taxes based on Provider’s net assets or income or for which Dell has an appropriate resale or other exemption. All invoices for Products provided to Dell will be accumulated, upon receipt, for a
period from the 16th day of a month to the 15th day of the following month (the “Accumulation Period”). [*] 
  

3.2 Provider acknowledges and agrees that Dell has the right to withhold any applicable taxes from any royalties or other payments due under this Agreement if required
by any government authority. 
  
 3.3 Provider represents and warrants that the
prices for Products shall be not be less favorable than prices applicable to sales by Provider to any other customer purchasing like quantities of materially comparable products. If at any time during the term of this Agreement, Provider accords to
any other such customer more favorable prices, Provider shall immediately offer to sell the Products to Dell at equivalent prices accorded to such other customer. 
  

	4.	WARRANTY 

  
 Provider represents and warrants on an ongoing basis that: 
  
 (a) Dell will acquire good and marketable title to the Products, and that all Products will be free and clear of all liens, claims, encumbrances and other restrictions; 
  
 (b) If applicable, all Products will be new and unused and shall not contain used or repaired
parts unless requested by Dell in writing, in which case, such Products shall be clearly labeled as refurbished; 
  
 (c) All Products will: (i) if applicable, be free from defects in design, materials and workmanship, including but not limited to, cosmetic defects, and (ii) will conform
to Provider’s Product specifications and specifications provided by Dell; for thirty six (36) months from the date of delivery to Dell or, if applicable, performance of service. 
  
 (d) Services provided will be performed in good and workmanlike manner by a skilled and qualified staff in accordance with highest industry
standards; 
  

	(e)	It has all the rights and licenses in the Products necessary to allow Dell to use the Products without restriction or additional charge; 

  
 (f) This Agreement (including without limitation the delivery of Products) does not violate
any applicable law (including without limitation all applicable import or export regulations and all licensing or permitting requirements) or breach any other Agreement to which Provider is a party or bound. 
  

	5.	INDEMNITY 

  
 5.1 Provider agrees to defend, indemnify, and hold harmless Dell and any of its subsidiaries or affiliates, and their respective directors, officers, employees, representatives, and agents (the
“Indemnitees”) from and against any and all claims, actions, demands, legal proceedings, liabilities, damages, losses, judgments, authorized settlements, costs or expenses, including without limitation 

	*	Indicates redacted information. 

  

 Master Agreement 
 Page 1 

 
reasonable attorneys’ fees, (the “Damages”) arising out of or in connection with any alleged or actual: 
  
 (i) infringement by Provider and/or a Product(s) of a copyright, patent, trademark, trade
secret or other proprietary or intellectual property right of any third party; 
  
 (ii) claim that Provider and/or Product provided under this Agreement has caused bodily injury (including death) or has damaged real or tangible personal property; 
  
 (iii) violation by Provider of any governmental laws, rules, ordinances, or regulations; and/or, 
  
 (iv) claim by or on behalf of Provider’s subcontractors, suppliers, or employees for
salary, wages, benefits or other compensation. 
  
 5.2 Notwithstanding anything
else to the contrary in this Agreement and subject to section 5.3 below, Provider shall assume full responsibility for any and all damages related to its indemnification obligation under this section 5 with respect to third parties. 
  
 5.3 Provider will provide the above indemnity even if losses are due, or alleged to be due,
in part to any lndemnitee’s concurrent negligence or other fault, breach of contract or warranty, or strict liability without regard to fault; provided, however, that Provider’s contractual obligation of indemnification shall not extend to
the percentage of the third party claimant’s damages or injuries or the settlement amount attributable to the lndemnitee’s negligence or other fault, breach of contract or warranty, or to strict liability imposed upon Indemnitee as a
matter of law. 
  
 5.4 In the event of any such claims, Dell shall: (1) promptly
notify Provider, (2) at Provider’s expense, reasonably cooperate with Provider in the defense thereof, and (3) not settle any such claims without Provider’s consent which Provider agrees not to unreasonably withhold. Provider shall keep
Dell informed at all times as to the status of Provider’s efforts and consult with Dell (or Dell’s counsel) concerning Provider’s efforts; and, Provider shall not settle the claim without Dell’s prior written consent, which shall
not be unreasonably withheld. 
  
 5.5 In addition to Provider’s obligations
and liabilities above, if an infringement claim is made or appears likely to be made about a Product, Provider shall, at Dell’s option, either: procure for Dell the right to continue to use the Product; modify the Product so that it is no
longer infringing; or replace it with a non-infringing Product. If none of these alternatives is commercially reasonable, Dell shall return or destroy, at Provider’s option, any Products possessed by Dell for a full refund of the purchase price
for the Product. 
  

	6.	LIMITATION OF LIABILITY 

  
 EXCEPT FOR BREACH OF THE TERMS SET FORTH IN SECTION 8.3 (“CONFIDENTIALITY”), NEITHER DELL NOR PROVIDER WILL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, OR
CONSEQUENTIAL DAMAGES OF ANY TYPE, INCLUDING LOST PROFITS, OR LOST DATA, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR THE SERVICES, EVEN IF A PARTY HAS BEEN ADVISED BY THE OTHER PARTY OF THE POSSIBILITY OF THE DAMAGE AND EVEN IF A PARTY
ASSERTS OR ESTABLISHES A FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED REMEDY PROVIDED IN THIS AGREEMENT. 
  

	7.	TERMINATION 

  
 7.1 Unless expressly set forth in an applicable Addendum or Schedule, Dell may terminate for convenience this Agreement, any Addendum or portion of Addendum, any Schedule or portion of Schedule, Order or Services
performed under an Order at any time for any reason upon thirty (30) days advance written notice to Provider 
  
 7.2 Provider may terminate this Agreement in the event Dell defaults in the performance of any of its duties and obligations and the default is not cured within thirty (30) days after written notice is given to the
Dell. 
  
 7.3 Either party may immediately terminate this Agreement by giving
written notice to the other party if the other party is insolvent or has a petition brought by or against it under the insolvency laws of any jurisdiction; if the other party makes an assignment for the benefit of creditors; if a receiver, trustee
or similar agent is appointed with respect to any property or business of either party. 
  

	8.	GENERAL 

  
 8.1 Disputes: Before initiating a lawsuit against the other relating to a dispute or claim herein, Dell and Provider agree to first work in good faith to resolve between themselves such dispute or claim arising
out of or relating to this Agreement. To this end, either party may request that each party designate an officer or other management employee with authority to bind the party to meet to resolve the dispute or claim. If, after meeting, the parties
are still unable to resolve the dispute or claim, then the parties agree to submit the matter to mandatory mediation. During this resolution process, each party will honor the other’s reasonable requests for non-privileged and relevant
information. This paragraph will not apply if: (i) the expiration of 

  

 Master Agreement 
 Page 2 

 
the statute of limitations for a cause of action is imminent; or (ii) injunctive or other equitable relief is necessary to mitigate damages. 
  
 8.2 Survival of Terms: Regardless of the circumstances of termination or expiration of
this Agreement or any Addendum or Schedule or portion thereof, the provisions of Sections 4 (“Warranty”), 5 (“Indemnity”), 6 (“Limitation of Liability”), and 8 (“General”) will survive the termination or
expiration and continue according to their terms. 
  
 8.3 Confidentiality:
Any confidential information that will be disclosed by either party related to this Agreement shall be disclosed pursuant to the terms and conditions of the Standard, Evergreen Non-disclosure Agreement (#02101605) between Dell and EXL Service, Inc.
Notwithstanding anything contrary in the terms of the applicable Non-disclosure Agreement, any trade secrets or other proprietary information of Dell, whether oral, visual or written, shall constitute confidential information of Dell even if not
marked as such. Further, Provider’s obligation to preserve the confidentiality of such trade secrets or proprietary information shall continue in perpetuity. The terms and conditions of this Agreement shall be deemed to be confidential
information. Provider will not use the name of Dell nor any Dell trademarks, trade names, service marks, or quote the opinion of any Dell employee in any advertising, presentations or otherwise without first obtaining the prior written consent of an
officer of Dell. 
  
 8.4 Insurance: Provider will obtain and at all times
during the term of this Agreement maintain at its own expense, with insurance companies acceptable to Dell, the minimum insurance coverages stated in Exhibit A to this Agreement. Furthermore, Provider shall, within ten (10) days of the Effective
Date of this Agreement, provide Dell with Certificates of Insurance evidencing compliance with this paragraph. 
  
 8.5 Compliance: (A) Dell is an Affirmative Action/Equal Opportunity Employer. Since Dell transacts business with the United States Government, the Equal Opportunity Clauses at 41 CFR sections 60-1.4(a),
60-250.5(a) and 60-741.5(a) are hereby incorporated and, if applicable, Provider shall comply with FAR 52.212-3, Offer or Representations and Certifications-Commercial Items, and FAR 52-219-8, Utilization of Small Business Concerns; and (B) if
subcontractors are engaged to provide any Products pursuant to this Agreement, Provider will use commercially reasonable efforts to engage businesses that are, (i) certified as minority or women owned by a third party certification agency acceptable
by Dell, or 
  
 (ii) small business concerns that are fifty-one (51%) percent
owned, controlled, operated and managed by women or members of a minority group including African Americans, Hispanic Americans, Native Americans, Asian Indian Americans, Asian-Pacific Americans. 
  
 8.7 Records: Provider will maintain accurate and legible records for a period of three
(3) years and will grant to Dell reasonable access to and copies of, any information reasonably requested by Dell with respect to Provider’s performance under this Agreement, including without limitation information regarding Provider’s
efforts to comply with Section 8.5(b). 
  
 8.8 Remedies: Except as may be
otherwise provided in this Agreement, the rights or remedies of the parties hereunder are not exclusive, and either party shall be entitled alternatively or cumulatively, subject to the other provisions of this Agreement, to damages for breach, to
an order requiring specific performance, or to any other remedy available at law or in equity. 
  
 8.9 Independent Contractors: The parties are independent contractors and neither party is an employee, agent, servant, representative, partner, or joint venturer of the other or has any authority to assume or
create any obligation or liability of any kind on behalf of the other. 
  
 8.10
Amendments: Waivers: No waiver of any term or condition is valid unless in writing and signed by authorized representatives of both parties, and will be limited to the specific situation for which it is given. No amendment or modification to
this Agreement shall be valid unless set forth in writing and signed by authorized representatives of both parties. 
  
 8.11 GOVERNING LAW: THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS, EXCLUSIVE OF ANY PROVISIONS OF THE
UNITED NATIONS CONVENTION ON THE INTERNATIONAL SALE OF GOODS AND WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. PROVIDER HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE FEDERAL AND STATE COURTS OF THE STATE OF TEXAS, U.S.A. AND
HEREBY AGREES THAT ANY SUCH COURT SHALL BE 

  

 Master Agreement 
 Page 3 

 
A PROPER FORUM FOR THE DETERMINATION OF ANY DISPUTE ARISING HEREUNDER. 
  
 8.12 Notices: Any notice required or permitted by this Agreement shall be in writing in English and delivered by certified or
registered mail, return receipt requested, postage prepaid and addressed as follows or to such other addresses as may be designated by notice from one party to the other, all such notices being effective on the date received or, if mailed as set
forth above, three (3) days after the date of mailing: 
  
 If to
Dell: 
  
 Dell Products, L.P. 
 One Dell Way 
 Round Rock, Texas 78682

 Attn: VP, General Procurement 
 cc: General Counsel 
  
 If to Provider: 
  
 8.13 Severance: Whenever possible, each provision of this Agreement will be
interpreted in such a manner as to be effective and valid under applicable law, but if any provision of this Agreement is found to violate a law, it will be severed from the rest of the Agreement and ignored and a new provision deemed added to this
Agreement to accomplish to the extent possible, the intent of the parties as evidenced by the provision so severed. The headings used in this Agreement have no legal effect. 
  
 8.14 Non-Exclusive: Nothing in this Agreement shall require Dell to purchase from Provider any or all of its requirements for
products or services that are the same or similar to the Products provided hereunder. Furthermore, Provider agrees to cooperate and work with Dell and any other providers that Dell may engage in connection with the provision of the Products.

  
 8.15 Assignment: This Agreement may not be assigned by Provider in
whole or in part, even by operation of law, in a merger or stock or asset sale, without the express written permission of Dell. Such consent shall not be unreasonably withheld. Any attempt to do so will be null and void. 
  
 8.16 Offset Obligations: Orders issued by Dell pursuant to this Agreement are placed
with the expectation of potential acquisition of credit for current and/or anticipated future offset obligations of Dell or Dell Computer Corporation, or their designated assignees to various governments around the world. Supplier agrees to
reasonably assist Dell or Dell Computer Corporation, or their designated assignees in their efforts to secure offset credit from these governments in an amount equal to the value of the applicable in-country content of the orders placed under this
Agreement. 
  
 8.17 Entire Agreement: This Agreement any related Addenda,
Exhibits, Attachments, and Schedules, as so designated, set forth the entire agreement and understanding of the parties relating to the subject matter contained herein, and merges all prior discussions and agreements, both oral and written, between
the parties. Each party agrees that use of pre-printed forms, including, but not limited to email, purchase orders, acknowledgements or invoices, is for convenience only and all pre-printed terms and conditions stated thereon, except as specifically
set forth in this Agreement, are void and of no effect. Unless expressly amended in an Addendum, Exhibit, Attachment or Schedule, as so designated, in the event of conflict between this Master Agreement and any Addendum, Exhibit, Attachment or
Schedule, the terms of this Master Agreement shall prevail. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the day and year first written herein. 
  

									
	DELL PRODUCTS L.P.	 	 	 	ExlService Holdings, Inc.
					
	 By:
	 	 /s/ Dagoberto Quintana
	 	 	 	 By:
	 	 /s/ Rohit Kapoor

	 Printed Name: Dagoberto Quintana
	 	 	 	 Printed Name: ROHIT KAPOOR

	 Title: VP Consumer Solutions Center
	 	 	 	 Title: CFO & PRESIDENT

	 Date: November 1, 2002
	 	 	 	 Date:
	 	 

  

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