Document:

Letter Agreement dated January 28, 2010 regarding the Shareholders Agreement

 Exhibit 10.29 
 State Street® 
 January 28, 2010 
 Syntel Delaware, Inc.

 State Street Syntel Services (Mauritius) Limited 
 c/o Syntel, Inc. 
 Chief Administrative Officer 
 525 E. Big Beaver Rd., 3rd Floor 
 Troy, Michigan
48083 
 United States of America 
 Gentlemen: 
 Reference is hereby made to the Shareholders Agreement dated February 1, 2005 between State Street International
Holdings (“SSIH”), Syntel Delaware, Inc. (“Syntel”) and State Street Syntel Services (Mauritius) Limited (formerly Syntel Solutions (Mauritius) Limited)) (the “Company”), as amended by a First Amendment to Shareholders
Agreement dated August 30, 2006 (as so amended, the “Shareholders Agreement”). Defined terms used in this letter with definition shall have the meanings ascribed thereto in the Shareholders Agreement. 
 SSIH, Syntel and the Company are presently engaged in good faith negotiations to amend and restate the Shareholders Agreement in connection with an
extension of the term of the MSA. In accordance with and subject to the terms of the Shareholder Agreement, SSIH shall, effective on February 1, 2010, have the right to purchase all of the Shares of the Company owned by Syntel, its Affiliates
or its designees and all of the nominee shares of SSI held by Syntel, its Affiliates, its designees, or nominees (collectively the “Call Option”). In consideration for the commitment of Syntel and the Company to use their commercially
reasonable efforts to conclude negotiations on an amended and restated Shareholders Agreement as soon as reasonably practicable, SSIH hereby irrevocably agrees to waive its right to exercise the Call Option between February 1, 2010 and
March 31, 2010 (the “Waiver Period”), subject to compliance by Syntel and the Company with the terms and conditions of the Shareholders Agreement during such Waiver Period. At its discretion, SSIH may extend the Waiver Period for one
or more additional periods of 30 days by written notice to Syntel and the Company. 
 Please acknowledge your agreement with the terms of this
letter by signing in the space provided below and returning an original countersigned copy to David P. Keohane, State Street Bank and Trust Company, One Lincoln Street, Boston, MA 02111. 

 Syntel Delaware, Inc. 
 State Street Syntel Services (Mauritius) Limited 
 January 28, 2010 
 Page 2 of 2 
 If you have any questions regarding
this waiver, please do not hesitate to contact Mr. Keohane at 617-664-0901. 
 STATE STREET INTERNATIONAL HOLDINGS 

			
		
	By:	 	/S/    SIMON ZORNOZA        

			
	Name:	 	Simon Zornoza

			
	Title:	 	Senior Vice President

 Acknowledged and Agreed; 

SYNTEL DELAWARE, LLC 

			
		
	By:	 	/S/    DANIEL M. MOORE        

			
	Name:	 	Daniel M. Moore

			
	Title:	 	Member

			
	Date:	 	January 31, 2010

 STATE STREET SYNTEL SERVICES
(MAURITIUS) LIMITED 

			
		
	By:	 	/S/    DANIEL M. MOORE        

			
	Name:	 	Daniel M. Moore

			
	Title:	 	Director

			
	Date:	 	January 31, 2010Summary of compensatory arrangements for non-employee directors

 Exhibit 10.17 
 BARRETT BUSINESS SERVICES, INC. 
 SUMMARY OF
COMPENSATION ARRANGEMENTS FOR 
 NON-EMPLOYEE DIRECTORS 
 As of March 15, 2010, compensation arrangements for non-employee directors of Barrett Business Services, Inc. (the “Company”), consist of (a) an annual retainer of $24,000 payable in
cash in two equal installments on January 1 and July 1 and (b) stock options for 2,000 shares of Company common stock with an exercise price equal to fair market value at the date of grant (March 4, 2010), vesting in four equal annual
installments beginning one year following the date of grant and expiring on March 4, 2020. Each non-employee director is expected to purchase Company common stock in the open market with 40% of his or her annual retainer.Lease Agreement between the Registrant and the Black Pearl on the Columbia, LLC,

 Exhibit 10.18 
 LEASE AGREEMENT 
  

					
	 Effective Date:    
	  	December 23, 2009	  	
			
	 Between:
	  	 Barrett Business Services, Inc.
 8100 NE Parkway Drive, Suite 200
 Vancouver WA 98662-6735
	  	(“Landlord”)
			
	 And:
	  	 Black Pearl on the Columbia, LLC
 8100 NE Parkway Drive, Suite 200
 Vancouver WA 98662-6735
	  	(“Tenant”)

 Landlord leases to
Tenant and Tenant leases from Landlord the following described property (the “Premises”) on the terms and conditions stated below: 56 S. 1st Street, Washougal WA 98671, see Exhibit A attached hereto for legal description. 

Section 1. Occupancy 
 1.1 Original Term. The term of this lease shall commence December 23, 2009, and continue through December 22, 2020, unless sooner terminated as hereinafter provided. 
 1.2 Possession. Tenant is currently in possession of the Premises. 
 Section 2. Rent 
 2.1 Annual Rent. During the original term,
Tenant shall pay to Landlord as annual rent the sum of $25,000.00 per year through December 22, 2011. Thereafter, the rent shall be five percent (5%) of Tenant’s gross income through the remainder of the term. 
 Section 3. Use of the Premises 
 3.1 Permitted Use. The Premises shall be used for any lawful purpose, including but not limited to, the operation of a restaurant. 
 Section 4. Repairs and Maintenance 
 4.1 Landlord’s Obligations. Landlord shall be under no
obligation to make or perform any repairs, maintenance, replacements, alterations, or improvements on the Premises. 
 4.2
Tenant’s Obligations. Tenant, at its expense, shall be responsible for repairs, operating condition, working order, and appearance of the Premises. Tenant shall be responsible for maintenance costs, utilities and all obligations incurred in
connection with the operation of the Premises and any improvements thereon. 
 Section 5. Insurance 
 5.1 Insurance Required. Tenant shall keep the Premises insured at Tenant’s expense against fire and other risks covered by a
standard fire insurance policy with an endorsement for extended coverage. 
  

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 Section 6. Taxes; Utilities 
 6.1 Property Taxes. Tenant shall pay as due all taxes on its personal property located on the Premises and shall pay as due all taxes
on any improvements made to the Premises by Tenant. Landlord shall pay as due all real property taxes levied against the Premises. 
 Section 7. Indemnity and Insurance 
 7.1 Indemnification. Tenant shall indemnify and defend Landlord
from, and reimburse Landlord for, any cost, claim, loss, or liability suffered directly or from a third-party claim arising out of or related to any negligent activity of Tenant on the Premises or any condition of the Premises in the possession or
under the control of Tenant. 
 7.2 Liability Insurance. Tenant shall procure and thereafter during the term of the lease
shall continue to carry the following insurance at Tenant’s cost: commercial general liability policy in a responsible company with coverage for bodily injury and property damage liability, personal and advertising injury liability, and medical
payment with a general aggregate limit of not less than $500,000 and a per occurrence limit of not less than $1,000,000. Such insurance shall cover all risks arising directly or indirectly out of Tenant’s activities on or any condition of the
Premises. Such insurance shall name Landlord as an additional insured. 
 Section 8. Default 
 The following shall be events of default: 
 8.1 Default in Rent. Failure of Tenant to pay any rent or other charge within 10 days, after written notice, that it is due. 
 8.2 Default in Other Covenants. Failure of Tenant to comply with any term or condition or fulfill any obligation of the lease (other
than the payment of rent or other charges) within 20 days after written notice by Landlord specifying the nature of the default with reasonable particularity. If the default is of such a nature that it cannot be completely remedied within the 20-day
period, this provision shall be complied with if Tenant begins correction of the default within the 20-day period and thereafter proceeds with reasonable diligence and in good faith to effect the remedy as soon as practicable. 
 Section 9. Remedies on Default 
 9.1 Termination. In the event of a default the lease may be terminated at the option of Landlord by written notice to Tenant. Whether or not the lease is terminated by the election of Landlord or otherwise, Landlord shall be entitled
to recover damages from Tenant for the default, and Landlord may reenter, take possession of the Premises, and remove any persons or property by legal action or by self-help with the use of reasonable force and without liability for damages and
without having accepted a surrender. 
 9.2 Reletting. Following reentry or abandonment, Landlord may relet the Premises
and in that connection may make any suitable alterations or refurbish the Premises, or both, or change the character or use of the Premises, but Landlord shall not be required to relet for any use or purpose other than that specified in the lease or
which Landlord may reasonably consider injurious to the Premises, or to any tenant that Landlord may reasonably consider objectionable. Landlord may relet all or part of the Premises, alone or in conjunction with other properties, for a term longer
or shorter than the term of this lease, on any reasonable terms and conditions, including the granting of some rent-free occupancy or other rent concession. 
  

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 9.3 Damages. In the event of termination or retaking of possession following default,
Landlord shall be entitled to recover immediately, without waiting until the due date of any future rent or until the date fixed for expiration of the lease term, the following amounts as damages: 
 (1) The loss of rental from the date of default until a new tenant is, or with the exercise of reasonable efforts could have been, secured
and paying out. 
 (2) The reasonable costs of reentry and reletting including without limitation the cost of any cleanup,
refurbishing, removal of Tenant’s property and fixtures, costs incurred under this Section 9, or any other expense occasioned by Tenant’s default including but not limited to, any remodeling or repair costs, attorney fees, court
costs, broker commissions, and advertising costs. 
 (3) Any excess of the value of the rent and all of Tenant’s other
obligations under this lease over the reasonable expected return from the premises for the period commencing on the earlier of the date of trial or the date the premises are relet, and continuing through the end of the term. The present value of
future amounts will be computed using a discount rate equal to the prime loan rate of major Oregon banks in effect on the date of trial. 
 Section 10. Miscellaneous 
 10.1 Nonwaiver. Waiver by either party of strict performance of any
provision of this lease shall not be a waiver of or prejudice the party’s right to require strict performance of the same provision in the future or of any other provision. 
 10.2 Attorney Fees. If suit or action is instituted in connection with any controversy arising out of this lease, the prevailing
party shall be entitled to recover in addition to costs such sum as the court may adjudge reasonable as attorney fees at trial, on petition for review, and on appeal. 
 10.3 Proration of Rent. In the event of commencement or termination of this lease at a time other than the beginning or end of one of the specified rental periods, then the rent shall be prorated
as of the date of commencement or termination and in the event of termination for reasons other than default. 
 10.4 No
Partnership. Landlord is not by virtue of this section a partner or joint venturer with Tenant in connection with the business carried on under this lease, and shall have no obligation with respect to Tenant’s debts or other liabilities,
and no interest in Tenant’s profits. 
  

											
		 	Barrett Business Services, Inc.	 	Black Pearl on the Columbia, LLC
						
		 	By:	 	 /s/ James D. Miller
	 		 	By:	 	 /s/ William W. Sherertz

		 	Its:	 	V.P.-Finance and CFO	 		 	Its:	 	CEO

  

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