Document:

EX-10.1

 Exhibit 10.1 
 Reliable Exports – Lionbridge Technologies Private Limited 

Lease Agreement 
  

 
 AGREEMENT FOR LEASE 

M/s. RELIABLE EXPORTS 
 (“LESSOR”) 
 AND 

LIONBRIDGE TECHNOLOGIES PRIVATE LIMITED 
 (“LESSEE”) 

  
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[GRAPHIC APPEARS HERE] 
 AGREEMENT FOR LEASE 
 THIS AGREEMENT FOR LEASE (“Agreement”) is
made and entered into at MUMBAI on this the 18th day of March, 2013, 
 BETWEEN: 

M/S RELIABLE EXPORTS, a sole proprietary concern, through its sole proprietor Mr. Raphael Sequeira, adult, Indian inhabitant, carrying on the
business as Builder and 

  
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Developers having its office at Reliable Business House, Hanuman Silk Mill Compound, Kanjurmarg West, Mumbai-400 078, hereinafter referred to as the
“Lessor” (which expression shall unless it be repugnant to the context or the meaning thereof be deemed to mean and include its heirs, executors, administrators and assigns ), of the One Part; 

AND 

LIONBRIDGE TECHNOLOGIES PRIVATE LIMITED, a company registered under Companies Act, 1956 and having its registered office at,
6th Floor, Spectra Building. Hiranandani Business Park,
Powai, Mumbai – 400 076, through its authorized signatory Sarath Divella authorized through Board Resolution dated
18th March 2013, hereinafter referred to as the “Lessee” (which expression shall, unless it be repugnant to the context or the meaning thereof be deemed to mean and include its permitted assigns and
successor/s in title) of the Other Part; 
 The term “Lessor” and “Lessee” are hereinafter for the sake of
brevity and convenience individually referred to as the “Party” and collectively as ‘‘Parties”. 

WHEREAS: 
  

	A.	Pursuant to a Development Agreement dated 2 December 2005 (“DA”) and a Power of Attorney dated 22 September 2006, executed between Mr. Babu
Govind Gavte & Ors. as the land owners therein and the Lessor, the landowners granted development rights to the Lessor (therein referred to as the Developer) for the development of all the piece and parcel of land admeasuring about 73,850 sq.
mtrs at plot bearing Survey No. 31, lying situate at Mouje Elthan, Taluka & District Thane within the jurisdiction of Airoli Sub-Registrar & within the Jurisdiction of Navi Mumbai Municipal Corporation (referred to as the “said
Land”) with authority to deal with the same including sale or lease after completion of the development; 

  

	B.	Pursuant to the aforesaid and after having obtained all the necessary governmental approvals, the Lessor has constructed the building by name of Reliable Tech
Park” situate on the said Land, comprising of stilt plus eleven upper floors (the said “Building”) in due compliance of law and as per the plans sanctioned by the Navi Mumbai Municipal Corporation (“NMMC”).
A copy of the property card register is annexed as Annexure A. The Building is complete in all respects, and the Lessor has obtained the occupation certificate from NMMC and all other necessary approvals from all the concerned authorities
with respect to the Building. A copy of the occupation certificate is annexed as Annexure A-l. 

  
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	C.	By a Letter of Intent dated 29 November 2008 issued by the Office of the General Manager, District Industries Centre, Thane (DIC), the DIG has recognized
the Building as a private IT Park under the IT/ITES Policy 2003 and granted permission to the Lessor for carrying on Information Technology/Information Technology Enabled Services (“IT/ITES services”) in the Building which was valid
up to 10 November 2011 ( “LOI”) and was subsequently extended up to 9 November 2012, and has thus expired. The Lessor represents that it has made an application for renewal of the LOI/obtaining an IT& ITES Certificate
and further represents that the same will be renewed by the Lessor from time to time for as long as this Agreement is in effect, at its own cost and expense, without any default or delay on the part of the Lessor. 

 

	D.	 The Lessor represents that it is accordingly adequately seized, possessed of and sufficiently entitled to the premises bearing Unit Nos. 301, 302,
303 & 304 admeasuring about 61,623 sq. ft. carpet area equivalent to 82,164 sq. ft. chargeable area on the 3rd Floor of the said Building known as “Reliable
Tech Park” (“Demised Premises”) and shown in the plan annexed as Annexure A-2 together with 41 (forty one) car parking spaces on stilt or basement of the said Building (hereinafter referred to as “Car Parks
1”), as more particularly described in the First Schedule hereunder written. The Lessor has also obtained for Lessee a legal opinion on its title to the Demised Premises issued by M/s. Padiyar & Co. (Advocates) dated 24 December
2012 and a search at the Sub-registrar’s office (from year 1983-2012) issued by Mr. Suryakant C. More, also dated 24 December 2012 inter alia certifying its title to the said Building and the Demised Premises (collectively
“Title Report”). 

  

	E.	Save and except a mortgage/charge created in favour of Bank of Baroda, the Lessor represents that it has not created any other mortgage, charge or other encumbrance in
respect of the Demised Premises and Car Parks 1 or dispose of the said Building/said Land, including the Demised Premises or any part thereof and shall not in future do so, in any manner which may adversely affect or prejudice Lessee’s interest
or rights created herein. In accordance with the provisions of the mortgage deeds, the Lessor has also obtained a written no objection certificate (“NOC”) from Bank of Baroda recording that the Bank has no objection to Lessor giving
on lease, the said Demised Premises and the said Car Parks 1 to the Lessee. 

  
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A copy of NOC dated
                         from Bank of Baroda is annexed as Annexure B. 

 

	F.	The Lessor further represents that it is also absolutely seized, possessed of and well and sufficiently entitled to 41 (forty one) car parking spaces in the building
adjacent to the Building, known by the name of “Empire Tower” building (hereinafter referred to as “Car Parks 2”) which is currently being constructed by the Lessor in due compliance with applicable laws and as per
sanctioned plans by NMMC, on plot bearing Gut No.31, lying being and situate at Mouje Elthan, Taluka & District Thane within the jurisdiction of Airoli Sub-Registrar and NMMC; 

 

	G.	The Lessor has represented that it is as such the legal owner of the Demised Premises and has absolute right, title, interest and authority to grant lease of the
Demised Premises together with right to use the Car Parks 1 and the Car Parks 2. 

  

	H.	Thus, the Lessee has requested the Lessor to allow it to use and occupy the Demised Premises on a lease-hold basis together with right to use Car Parks 1 and Car Parks
2, without creating any other right, title or interest, in favor of the Lessee with respect to the Demised Premises, to carry on the business of development and sale of computer software, localization, other IT/ITES related services and exports
thereof (“Business”). 

  

	L.	The Lessee has inspected the documents of the Lessor’s title pertaining to the said Land and the said Building and based on the Lessor’s representations that
the Lessor is adequately seized and possessed of the Demised Premises and the said Building and in particular the right of the Lessor to develop, deal and dispose of the Demised Premises and the said Building confirms that the Lessor has permitted
the Lessee use of the Demised Premises on limited Lease for use during limited hours on such days as the said Building is open, subject to compliance of this Agreement. 

 

	J.	Relying on the various representations, warranties and information, made and provided by each party to the other, the Lessor has agreed to grant to the Lessee a Lease
to use the Demised Premises together with the Car Parks 1 and Car Parks 2 and the Lessee has agreed to take the same on lease on the terms and conditions and in the manner hereinafter appearing. 

  
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NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERE TO AS FOLLOWS:- 

The recitals shall form an integral part of this Agreement. 
  

	1.	GRANT OF LEASE AND PERMITTED USE 

  

	 	a.	Based on the declaration and assurances, given by the Lessee to the Lessor, the Lessee hereby agrees, assures, confirms, declares, and undertakes to avail of the
facility to use of the Demised Premises as Lessee only (and not in any other capacity or as acquiring any interest either as a tenant or irrevocable Lessee or any other right of any nature whatsoever or otherwise howsoever) and subject to the due
performance and observance/compliance of all terms, conditions and covenants herein contained and subject to the payment of the lease rent and all other payments to be made by the Lessee as mentioned herein and/or any other document in pursuance
hereto, the Lessor hereby permits the Lessee, to use and occupy under the Lease of the Lessor, the Demised Premises for the Lease Period on the terms and conditions contained in this Agreement. 

 

	 	b.	In addition to the Demised Premises, the Lessor shall also provide to the Lessee dedicated 82 (eighty two) reserved car parking slots for the Lessee being Car Parks 1
in the said Building and Car Parks 2 in the adjoining building known as “Empire Tower”. These said car parking slots (i.e. Car Parks 1 and Car Parks 2) shall be provided by the Lessor free of cost to the Lessee. Out of total car
parking, 50% of the car park i.e. 41 car parks shall be allocated in the said Building & balance 41 car parks shall be provided in Empire Tower adjacent to Reliable Tech Park. The Lessor shall provide the dedicated parking slot numbers to
the Lessee no later than the Lease Rent Commencement Date. However, if, for any reason the Lessor is unable to allocate the 41 Car Parks in Empire Tower building i.e. Car Parks 2, by 31 October 2013, then the Lessor shall allocate the balance
41 car parks in the said Building so that all the 82 car parking spaces are allotted in the said Building i.e. Reliable Tech Park Building free of cost and take all the necessary steps and obtain all the requisite approvals, permits, NOCs etc., if
any, in this regard. Failure to allocate the specified total 82 (eighty two) car parking spaces 

  
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within Gut No. 31 or adjoining Lessor’s properties by the Lease Rent Commencement Date (defined below), the Lessee shall be entitled to deduct a sum of Rs. 2,500 per month for each
car parking space not so provided by the Lessor, from the amount of the monthly rent for the duration of time that the said car parking spaces are not provided. 

 

	 	c.	The Lessee shall have access to the Demised Premises together with the Car Parks 1 and Car Parks 2 at all times during 24*7 during the subsistence of this Agreement.

  

	 	d.	The Lease contemplated in this Agreement is confined to the possession, use, and occupation of the Demised Premises along with the right to use Car Parks 1 and Car
Parks 2 and access to the common areas of the Building by the Lessee, as set out in this Agreement and neither amounts to, nor is it intended to create any rights other than as specifically provided in this Agreement. By this Agreement, the Lessee
gets a bare lease for the Lease period to use the Demised Premises together with the Car Parks 1 and Car Parks 2 during the subsistence of this Agreement and which permission is personal to the Lessee. 

 

	 	e.	The lease contemplated in this Agreement is personal in nature and is specific to the Lessee alone and its permitted assigns and at no time shall the Lessee be entitled
to transfer the benefits of this Agreement to any third party nor shall the Lessee be entitled to allow any third party to use the Demised Premises and/or any part thereof except to its sister companies, affiliates and group companies who agree to
abide by the terms of this Agreement or as otherwise provided in this Agreement; 

  

	2.	LEASE PERIOD AND THE LOCK-IN PERIOD 

  

	 	a.	Lease Period 

 The Lease granted herein by the Lessor is limited for a period of 108 months (i.e. 9 (nine) years) (“Lease Period”) commencing from the date possession of the Demised Premises is
handed over to the Lessee to commence its fit out works (“Handover Date). The Handover Date shall be on a date mutually agreed between the parties but shall not be later than 1st October 2013. The Lease Period shall accordingly end on the close of Business Hours on a date 108 months after
Handover Date but shall not be later than 30th September,
2022, during which the Lessee shall be permitted to use the Demised Premises together with the Car Parks 1 (and Car Parks 2 no later than 31 October 2013). 

  
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	 	b.	Lock-in Period 

 Out of
the entire Lease Period of 108 months (Nine years), the initial term of 60 Months (5 years) shall be the Lessee lock-in period and that during the said Lessee lock-in period, the Lessee shall not have the right to terminate and/or cancel this
Agreement for any reason whatsoever (except on grounds of material breach of this Agreement not remedied by the Lessor within stipulated Cure Period as defined in clause 11 below or on the occurrence of a Force Majeure event as stipulated below. The
Lessee may terminate the Agreement at the end of the lock-in period or any time upon or after the completion of the lock-in period by giving 6 (Six) months advance written notice to Lessor or lease rent in lieu of the notice to the Lessor. In the
event the Lessee terminates this Agreement during the Lock-in Period then the Lessee shall be liable to pay the lease rent for unexpired Lock-in Period, except where the Lessee terminates the lease Agreement on grounds of material breach of the
Agreement, non-performance of covenants or warranties or misrepresentation by Lessor or on ground of force majeure, in which case, the Lessee shall not be liable to make any payments of future lease rent in the Lessee lock-in period. 

 

	3.	FIT-OUT WORKS, HANDOVER DATE AND FIT-OUT PERIOD 

  

	 	a.	 The Lessee shall be given uninterrupted access to the Demised Premises to start the fit-out works from the Handover Date of this Agreement and shall
try to complete the fit-out works by 31st December 2013
(the period of time from the Handover Date to
31st December 2013 shall be known as the
“Fit-Out Period”). The lease rent shall commence from 1st January, 2014 (“Lease Rent Commencement Date”) irrespective of
whether the Lessee has completed the fit outs by that date or not. 

  

	 	b.	Upon termination or sooner determination of this Agreement the Lessee shall remove the entire fit-out works from the Demised Premises and shall hand over the Demised
Premises in the same state and condition along with permitted improvements which the Lessee wishes to leave behind (normal wear and tear excepted) to the Lessor, subject to receiving a refund of the Security Deposit as provided below.

  

	 	c.	 In the event the Lessee fails to complete the fit-out works at the end of the Fit-Out Period due to any reason whatsoever, the Lessee shall start
paying the Lease Rent from 1st January 2014.

  
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	 	d.	The Lessee shall pay all the Utility Charges and CAM Charges (as defined hereinafter) during the Fit-out Period. The Lessor shall provide electricity connection already
existing along with electric meter which shall be used during the Fit-Out Period in the Demised Premises by the Lessee and the Lessee shall pay for such electricity consumed at actuals. The Lessee will also be liable to pay water charges on actuals.

  

	4.	LEASE RENT, FIT-OUT FEES AND CHARGES PAYABLE BY LESSEE  

  

	 	a.	Lease Rent and Escalation 

  

	 	i.	 From the Lease Rent Commencement Date i.e. 1st January, 2014 till the expiry or sooner determination of the Lease granted hereunder, whichever is later, the Lessee
shall pay to the Lessor, as monthly lease rent sum aggregating to Rs 31,63,314/- (Rupees Thirty One Lacs Sixty Three Thousand Three Hundred Fourteen Only) (“Lease Rent”) plus applicable service tax for the
use and occupation of the Demised Premises together with the Car Parks 1 and Car Parks 2. 

  

	 	ii.	 The Lessee shall regularly pay to the Lessor, the Lease Rent in advance, on or before the 7th (Seventh) day of every calendar month through RTGS into a
designated Bank Account of the Lessor as specified by the Lessor from time to time in writing, provided that, the Lessor furnishes to the Lessee an invoice on or before the 3rd (third) day of every calendar month, containing particulars of the monthly Lease Rent, CAM charges and other utility
charges and applicable service tax, if any, payable in respect of the Demised Premises for such calendar month. The Lessor shall issue a receipt of the Lease Rent in favor of the Lessee on or before 10th (tenth) day of every calendar month.

  

	 	iii.	The payment of the Lease Rent and CAM charges is subject to the deduction of tax at source (TDS) as per the prevailing provisions of the Income Tax Act, 1961, as
amended from time to time. 

  

	 	iv.	It is mutually agreed between the Parties that the Lease Rent (as mentioned herein) shall increase by 15% (Fifteen Per cent) on the last rent paid after
completion of every 36 months (thirty six) from the Handover Date over and above the Lease Rent for the then immediate previous year of the Lease Period. 

  
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	 	v.	 It is hereby agreed by and between the Parties that in the event of the Lessor having any arrangement with any Bank or Financial Institution for
discounting the amount of Lease Rent or any part or portion thereof receivable by it under this Agreement, the Lessee upon receipt of written instructions from Lessor shall pay the amount of the Lease Rent or such part or portion thereof payable
under this Agreement to such Bank or Financial Institution as the case may be, and as may be directed by the Lessor. The Lessor hereby confirms and agrees that such payment to the designated Bank or Financial Institution shall be a proper valid and
effective discharge of the Lessee’s obligation for payment of Lease Rent or any part or portion thereof, as the case may be, under this Agreement. The Lessor unconditionally hereby agrees to indemnify and keep indemnified the Lessee or its
representatives, against any claims in respect of such payments, if any, made by the Lessee to the Bank or Financial Institution. The Lessee shall abide by all further and modified written instructions by the Lessor in relation to such payments.
Notwithstanding such arrangement, the Lessor shall still be required to issue an invoice to the Lessee as provided hereinabove on or before the 3rd day of each calendar month and a receipt for the Lease Rent and other payments made by the Lessee, on or before 10th
(tenth) day of every calendar month. 

  

	 	vi.	The Lessor hereby agrees and confirms that if any additional car parking slots are required by the Lessee (i.e. over and above 82 (eighty two) car parking spaces which
are provided by the Lessor to the Lessee free of cost), the Lessor shall, subject to availability of the car parking spaces in the said Building and/or any adjacent building, provide such additional car parking spaces to the Lessee at a cost of
Rs.2,500/- (Rupees Two Thousand Five Hundred only) per car parking space per month. 

  

	 	b.	Service Tax 

 The Lessee
agrees that, if there is any amendment in the law relating to the service tax payable on the Lease Rent and the service tax is increased and or replaced by any new tax/charge/cess, and /or if any new tax, cess or duty (in the nature of indirect tax)
is imposed on the Lease Rent, by any government or municipal authorities then the same will also be paid by the Lessee or reimbursed by the Lessee to the Lessor, as the case may be 

  
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	 	c.	CAM Charges 

 In addition
to the Lease Rent and other charges payable under this Agreement, applicable on the Demised Premises, the Lessee shall pay to the Lessor common area maintenance (“CAM”) charges exclusive of service tax for the use of the common
areas from the Handover Date of the Demised Premises @ Rs. 5.50 per sq. ft. on total chargeable area amounting to Rs. 4,51,902/- (Rupees Four Lacs Fifty One Thousand Nine Hundred Two only). The CAM Charges in respect of each calendar month
shall be paid by the Lessee along with the Lease Rent, in advance, on or before the 7th (Seventh) day of every calendar month subject to receipt by the Lessee of an appropriate invoice in this regard. Any increase in the CAM charges shall be borne
by the Lessee as per the actual, provided that such increase shall not exceed 15% every 36 months from the Handover Date and if it does, the excess amount shall be charged as per the mutual consent. The Lessor shall provide documentary evidence to
show the increase in CAM charges. 
  

	 	d.	Property Tax 

 It is
agreed by and between the Lessor and Lessee that present property taxes, cess, duties and impositions levies, related to the Demised Premises shall be borne by the Lessor and be paid in a timely manner to the concerned authorities during the Lease
Period. It has been represented by the Lessor that current property tax is @ Rs. 1.50/- (Rupee One and Fifty Paisa Only) per sq. ft. However, in case of any future increase in the rate of property tax, the incremental value shall be paid by the
Lessee to the Lessor within 7 (seven) days of the Lessor raising the invoice with supporting documents to the Lessee in this regard. If the Lessor fails to make timely payment of the property tax to the governmental authorities, Lessee may pay the
same on the Lessor’s behalf and deduct it from the Lease rent or other dues payable to the Lessor. Provided that if the property taxes increases to more than Rs. 3/- (Rupees Three only) per square feet, the Parties hereto shall pay the Property
Tax in equal proportion. 
  

	 	e.	Utility Charges 

  

	 	i.	 In addition to the Lease Rent and CAM charges payable under this Agreement, the Lessee shall be required to pay water and electricity consumption
charges (“Utility Charges”) from Handover Date which shall be exclusively borne by the Lessee at actuals. The Lessee will ensure prompt payment to the Lessor or the concerned service provider (as the case may be) to ensure smooth
Business operations from the Demised Premises. The Lessor shall furnish documentary 

  
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evidence of timely payment of the utility bills to the Lessee every month. Should the Lessee wish to obtain its own electricity meter, the Lessor shall not object to any application made by the
Lessee for procuring a separate electricity meter/ direct electricity connection from the service provider and if required, provide its no objection for the same. 

 

	 	ii.	The Lessor shall provide an uninterrupted power back up through a diesel generator of             
KVA to the Lessee to enable the Lessee smooth operation of its Business and the cost of the power backup shall be borne by Lessee at actuals be 

  

	 	iii.	In the event that the Lessee pays the Utility Charges directly to the local authority or other supplier, then the Lessor shall be entitled to require the Lessee to
provide it with written proof/receipts of such payment from time to time and the Lessee shall furnish such proof to the Lessor within 5 (five) days of such payment being made. 

 

	 	f.	Default in payment of above charges 

 Timely payment of the Lease Rent, CAM charges and other payments as stipulated above in this Agreement is the essence of this Agreement. Without prejudice to the Lessor’s rights and remedies in law,
in equity and under this Agreement, where the Lessee fails and/or neglects to pay and/or delays in paying the Lease Rent and/or any part thereof for more than 15 days from it becoming due, or any other dues or amount payable under this Agreement,
the Lessee shall be liable to pay to the Lessor interest on the due/outstanding amount @ 15% (fifteen percent) p.a. from the date the same becomes due till the date of payment. It is expressly agreed by the Lessee that the Lessor shall be entitled
to at any time subsequent to any interest payment becoming due, to firstly appropriate any amount as may be tendered/paid (under whatever description) towards the outstanding interest. 

 

	5.	INTEREST FREE REFUNDABLE SECURITY DEPOSIT 

  

	 	a.	As and by way of assurance to the Lessor, for the due and proper performance of all its obligations including vacating and handing over the vacant and peaceful
possession and charge of the Demised Premises on the expiry or sooner termination of this Agreement, the Lessee shall, till the date the Lessee hands over the vacant and 

  
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peaceful possession of the Demised Premises in the same state and condition along with permitted improvements which the Lessee wishes to leave behind (reasonable wear and tear excepted), maintain
with the Lessor, a refundable non-interest bearing Security Deposit, equivalent to 6 (Six) months of Lease Rent (which is inclusive of existing/ present CAM charges) total aggregating to Rs. 44/- per sq. ft. on total chargeable area amounting to
Rs. 2,16,91,296/- (Rupees Two Crores Sixteen Lacs Ninety One Thousand Two Hundred and Ninety Six Only) (hereinafter referred to as “Security Deposit”). The Security Deposit shall be paid to the Lessor by the Lessee in the
manner setout herein below: 

  

	 	i.	One Month Security Deposit amounting to Rs. 36,15,216/- (Rupees Thirty Six Lacs Fifteen Thousand Two Hundred and Sixteen Only) has been paid simultaneously on the
execution of Letter of Intent (“LOI”) dated 7th February, 2013; 

  

	 	ii.	Two Months Security Deposit amounting to Rs. 72,30,432/- (Rupees Seventy Two Lacs Fifteen Thousand Two Hundred Sixteen Only) to be paid simultaneously on the execution
of this Agreement; 

  

	 	iii.	Balance Three Months Security Deposit amounting to Rs. 1,08,45,648/- (Rupees One Crore Eight Lacs Forty Five Thousand Six Hundred and Forty Eight) to be paid on the
Handover Date. 

  

	 	b.	The Security Deposit shall be refunded only on expiry of the Lease Period or earlier determination of this Agreement, subject to and simultaneously upon the Lessee
irrevocably and unconditionally vacating the Demised Premises and removing itself, its employees, staff and all other person/s from the Demised Premises and their respective belongings, chattels, articles and movable/ removable fittings and fixtures
which the Lessee had brought into/ carried out in the Demised Premises; without any damage to the Demised Premises (normal wear and tear is excepted), and only on the performance of each and all of the obligations of the Lessee. Upon the Lessee
complying with all its obligations, the Lessor shall refund the amount of Security Deposit after deducting therefrom the outstanding dues, if any, payable by the Lessee to the Lessor. 

 

	 	c.	 In the event of expiry of the Lease Period or sooner determination of this Agreement, if the Lessor is ready and willing to return the Security Deposit
and the Lessee fails 

  
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and neglects to hand over quiet and peaceful possession of the Demised Premises to the Lessor, then the occupation of the Demised Premises by the Lessee shall be illegal and unauthorized and in
this event without prejudice to the right of the Lessors, the Lessee shall be liable to pay double the amount of Lease Rent for the use and occupation of the Demised Premises post the expiry or termination of this Agreement and by way of liquidated
damages, during the period of such occupation and this may be adjusted from the amount of Security Deposit. 

  

	 	d.	In the event of expiry or sooner determination of this Agreement, if the Lessee is willing to vacate and handover the peaceful possession the Demised Premises to the
Lessor and the Lessor fails to refund the Security Deposit to the Lessee, the Lessee shall be lawfully entitled to use, occupy and continue to be in possession of the Demised Premises together with the right to use the Car Parks 1 and Car Parks 2
without being liable to pay any further Lease Rent or any other charges payable under this Agreement to the Lessor. The Lessor shall also be liable to pay an interest @ 15% p.a. on the total Security Deposit outstanding, from the date of termination
or expiry of this Agreement, till the date of payment of the Security Deposit. It is hereby agreed that the Lessee shall have a charge on the Demised Premises to the extent of the outstanding Security Deposit till such period the Lessor has paid to
the Lessee the entire Security Deposit. 

 It is hereby agreed between the Parties that at least 6 (six) months
before the expiry of the Lease Period or if the Lessee gives 6 (six) month’s termination notice to the Lessor at any time, the Lessee may in its sole discretion, give instructions in writing to the Lessor, to adjust the amount of Security
Deposit towards last 6 (six) month’s Lease Rent payable by the Lessee, in which case the Lessee shall not be liable to pay any further Lease Rent for such period, and the Lessor shall not be liable to refund the Security Deposit to the Lessee.

  

	6.	REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE LESSOR 

The Lessor represents to the Lessee as follows: 

 

	 	a.	The Lessor is absolutely seized and possessed of the Demised Premises together with the right to use the Car Parks 1 and Car Parks 2 has full authority and power
to enter into this Agreement; 

  
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	 	b.	The said Building is an IT park and permitted to be used for IT/ITES or related activities as per the IT policy of the government and the Lessor shall obtain/ renew all
the necessary licenses, permissions approvals in respect thereof and ensure that the same is renewed and remain valid throughout the entire Lease Period; 

  

	 	c.	The Lessor has constructed the said Building in full compliance with sanctioned building plans by NMMC and in compliance with the applicable laws and shall continue to
comply with the same; 

  

	 	d.	The Lessor is entitled to and has full right to grant Car Parks 2 in the Empire Tower Building or to make alternate arrangements for providing remaining 41 (Forty one)
car parking spaces in the said Building; 

  

	 	e.	There are no proceedings pending or threatened litigations against or in respect of the said Building and/or Demised Premises or ‘Empire Towers’ Building and
the same is not under any restriction, lis pendense or attached under any order of a Court; 

  

	 	f.	That the said Building has been adequately insured by the Lessor against all usual risks and such insurance is in full force and effect; 

 

	 	g.	The Lessor has duly paid all rents, rates, taxes, duties, assessments and other outgoings, Central, State or Municipal assessed, charged, imposed, levied or payable in
respect of the said Building and/or the Demised Premises to the concerned statutory/ local or governmental authorities and also duly paid the electricity charges, maintenance charges and other outgoing payable in respect thereof till date and shall
continue to pay the same in a timely manner throughout the Lease Period; 

  

	 	h.	The common areas and amenities in the said Building are in usable condition and shall be maintained by the Lessors to be so during the subsistence of the Agreement;

  

	 	i.	On the Lessee paying the Lessor, the Lease Rent and other charges mentioned in this Agreement regularly and on observing and performing all the terms, conditions and
covenants hereof, the Lessee shall be entitled to peacefully conduct Business from the Demised Premises during the Lease Period; 

  

	 	j.	 The Lessor has not entered into any agreement for sale/transfer/lease/leave and license of the Demised Premises or entered into any agreement otherwise
in favor of any third party or parties or any other agreement of any nature whatsoever in respect of the 

  
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Demised Premises or any part thereof so as to prejudice its right to give the Demised Premises on lease basis to the Lessee and shall not do so throughout the Lease Period;

  

	 	k.	The Lessor shall, subject to the Lessee being in full compliance of its financial and other obligations under the Agreement, keep/maintain the said Building in good
order and condition and shall ensure that water and all critical services (lift, electricity and air conditioning, adequate fire fighting systems) including security of the said building are provided without any unreasonable disruption.

  

	 	l.	The Lessor shall, subject to compliance with the terms of this Agreement (including timely and full payment by the Lessee to the Lessor of all dues under this
Agreement), provide all other services as required under this Agreement; 

  

	 	m.	The representations and warranties of the Lessor shall remain valid during the subsistence of this Agreement. 

 

	7.	RIGHTS/OBLIGATIONS RETAINED WITH/OF THE LESSOR 

  

	 	In addition to and without prejudice to the rights available to the Lessor under this Agreement, the Lessor shall have the following rights and obligations:

  

	 	a.	The Lessor or its designated representative shall have the right from time to time during the Business Hours on any working day with 2(two) days prior written
notice/intimation to the Lessee to enter upon the Demised Premises for the purpose of inspecting the service and maintenance in the Demised Premises subject to Lessee’s reasonable security and confidentiality requirements.

  

	 	b.	The Lessor, in its sole discretion, may carry out safety inspection from time to time and it is clarified that such inspections shall not transfer any liability upon
the Lessor arising solely because of contravention of safety norms by the Lessee. It is however understood and acknowledged by the Lessee that safety of all occupants of the said Building and the said Building itself are of paramount importance and
the Lessee will not knowingly or willingly do anything which may jeopardize safety of the Building and shall cooperate with Lessor in all acts, necessary for complying with the safety requirements. 

 

	 	c.	 The Conduits which pass and/or have access through the Demised Premises shall always be in the possession and use of the Lessor alone and the Lessor
shall be entitled 

  
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at all times to maintain, repair and make use of the same without any interference or obstruction by or from the Lessee, subject to non interference by the Lessor on the Lessee’s right to
full access to the Demised Premises and carrying on its Business smoothly without any disruption or interference by the Lessor or his representatives. 

  

	 	d.	The Lessor shall be entitled to affect any repairs, alterations or improvements and additions to Demised Premises and to install all necessary equipment lo bring about
such work as may be required. The Lessor shall be entitled to enter upon the Demised Premises in order to do such work without causing any unreasonable disruption to the Lessee’s Business and without damaging any of the Lessee’s property
lying in the Demised Premises upon seeking at least (one) working days prior written approval from the Lessee subject to Lessee’s reasonable security and confidentiality requirements and the Lessee shall not have any claim for compensation,
damages or remission of Lease Rent. 

  

	 	e.	In case of any defect in the structure of the Demised Premises on notice of such defect the Lessor shall promptly rectify such defects. The Lessor at its own cost
shall, at all times during the Lease Period, perform all structural repairs that may become necessary to maintain the Demised Premises in safe and habitable condition. 

 

	 	f.	In the event the Lessor fails to carry out the rectification of defect and/or structural repairs in the Demised Premises upon intimation from the Lessee, within a
period of 30 (thirty) days or such other period as mutually agreed, the Lessee shall have the right (but not the obligation) to undertake such rectification and/or structural repairs on Lessor’s behalf and at the Lessor’s costs and
expenses. Provided that, the Lessee shall act in reasonable prudence and make best efforts so that no damage or destruction is caused to the said Building during such repair works. The Lessee shall provide to the Lessor with copy(ies) of such
payment receipts, bills and other supporting documents relating to costs incurred for such repairs. If the Lessor fails to make such payment to the Lessee within 7 (seven) days of being notified, the Lessee shall be entitled to deduct such costs
from the Lease Rent. The Lessor shall not contest such amount deducted from the Lease Rent. 

  

	 	g.	 The Lessee agrees that during the term of this Agreement the Lessor shall always be entitled to sell, mortgage and/or charge and/or create any third
party rights in the said 

  
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Building or said Land, which includes the Demised Premises, however, the Lessor shall ensure that, while effecting such sale/mortgage/ charge, the same will be subject to the Lessee’s rights
under this Agreement and shall not result in vacation of the Lessee from the Demised Premises and shall not prejudice or adversely affect the Lessee’s interest under this Agreement or in any manner vary the terms conditions recorded herein. The
Lessee shall continue to pay the Lease Rent and perform its obligations under this Agreement to any assignee or transferee as the case may be. If a fresh Agreement is required to be entered into between such purchaser, assignee or transferee in
respect of the Demised Premises, the same shall be executed on the same terms and conditions as in this Agreement for the residual Lease Period and any further costs and expenses incurred towards stamp duty, registration including legal expenses
shall be borne and paid by the Lessor and/or such purchaser, assignee or transferee. 

  

	 	h.	In the event the Lessor seeks to securitize the Lease Rent the Lessee agrees that it shall, in substitution of its obligation to pay Lease Rent to the Lessor, undertake
to pay such Lease Rent to the assignee with whom such Lease Rent are securitized. The Lessee further undertakes to execute all necessary documents the assignee may reasonably require the Lessee to execute in respect thereof at the cost and expense
of the Lessor and/or such assignee. The Lessor shall ensure that the securitization is subject to the Lessee’s right under this Agreement and shall not prejudice or adversely affect the Lessee’s interest. Any payments made by Lessee to
such assignee will be assumed to be made in good faith as part of Lessee’s obligations to Lessor under this Agreement. 

  

	8.	EXTENT OF LESSOR’S LIABILITY 

  

	 	a.	Neither the Lessor nor its agents or employees are liable for any loss of any nature suffered by the Lessee (including loss of profits) or damage to any of the assets
of the Lessee including but not limited to stock-in-trade, fixtures, fittings, books and papers and other goods, or be liable for any injury or loss of life to the person of the Lessee or the Lessee’s employees or invitees as a result of
failure of water supply works by the NMMC or by reason of the elements of the weather or any Force Majeure events as defined in clause 10 (d). 

  

	 	b.	 The Lessor further agrees to indemnify the Lessee from and against all losses (including business and consequential losses), costs, expenses incurred
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the Lessee by reason of or resulting from any creation of a charge, mortgage, encumbrance, securitization, lien or other third party rights created by the Lessor over the demised Premises or the
car parking spaces allotted to the Lessor. 

  

	9.	THE LESSEE’S ASSURANCES 

 Without prejudice to any of the confirmations / obligations on part of the Lessee under this Agreement, the Lessee covenants with the Lessor to observe and perform all its obligations under this
Agreement. It is hereby acknowledged by the Parties that the Parties have executed this Agreement based on and relying upon the covenants, representations and warranties of the Parties, however, without prejudice to the generality of the foregoing
the Lessee covenants, represents, declares, confirms and acknowledges as follows: 
 a. Covenant regarding Licenses and
Approvals 
  

	 	i.	The Lessee shall comply with and not contravene or permit the contravention of the applicable laws, bye-laws and regulations (if any), those relating to the Lessee or
occupiers of Demised Premises or the conduct of any Business carried on in the Demised Premises. In particular but without derogating from the generality of the foregoing, it shall be the Lessee’s responsibility to ensure that its electrical,
fire protection and plumbing installations in the Demised Premises are such as to comply with the requirements of the local and/or other authority having jurisdiction. 

 

	 	ii.	The Lessee at its own cost and expense shall, if required, obtain all necessary and requisite statutory approvals, licenses and NOC (No Objection Certificate) etc. from
all the concerned Government or statutory authorities, departments etc., with respect to the carrying on of the Business from the Demised Premises. 

  

	 	iii.	The Lessee will be obliged to comply with all written laws, by-laws, rules and regulations and directives of the Appropriate Authority (affecting the Demised Premises
or for the health, safety and welfare of persons employed to work in the Demised Premises. 

  
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b. Covenant against improper use of the Demised Premises 
 The Lessee agrees and undertakes to use the Demised Premises for the Business only and shall not specifically, in the course of its Business or otherwise: 

 

	 	i.	carry on or permit to be carried on in the Demised Premises or in any part thereof, any activity which shall be or is likely to be unfair, illegal, unlawful, or the
like; 

  

	 	ii.	create any nuisance or disturbance to the Lessor or any other occupants of the said Building or cause any unreasonable/unwarranted treatment or jeopardize their
reputation in any manner whatsoever,; 

  

	 	iii.	bring, cause, permit, transport, exchange, store or allow to be stored, keep, sell, use, produce, process, discharged, dispose, deliver etc. in or about the Demised
Premises/said Building through any means by any person claiming through, under or in trust with the Lessee including its agents, employees or contractors etc., any material, or substance which alone or together with any material or substance, is or
likely to be of hazardous, explosive, toxic combustible, dangerous or hazardous material in nature that may imperil the safety of the said Building, or goods which may be illegal or prohibited by law, including, but not limited to, any counterfeit
smuggled, pirated or contraband items, narcotics, weapons and so on; 

  

	 	iv.	do anything, which may in any manner interfere with the use of any common area of the said Building and its neighbourhood; 

 

	 	v.	permit or use the Demised Premises or any part thereof for residential purpose; 

 

	 	vi.	not to damage the walls, ceilings or any other portion of the Demised Premises; 

 

	 	vii.	to use the Demised Premises with due care and diligence and to duly and regularly maintain the Demised Premises and Fit-outs in just and proper manner;

 c. Covenant regarding payment of Lease Rent and other charges under this Agreement 

 

	 	i.	The Lessee shall pay the Lease Rent CAM Charges and other charges in the manner set out in this Agreement and the Lessee shall not exercise or seek to exercise any
right or claim to withhold the Lease Rent and other Charges except to the extent as provided in this Agreement; 

  
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	 	ii.	to pay interest on all delayed and/or outstanding Lease Rent payments at the rate of 15% (fifteen percent) per annum in the circumstances as provided in the Agreement;

 d. Covenant relating to Insurance 

 

	 	i.	The Lessee agrees and undertakes that it shall obtain and maintain insurance cover for its merchandise, property, goods, installations and Fit-Outs Works in the Demised
Premises for the duration of this Agreement. 

 The Lessee acknowledges that under no circumstances will the Lessor
be responsible or liable for any loss or damage to the Lessee’s property, goods, merchandise, furniture and fixtures, equipment and appliances, personnel etc. in the Demised Premises, except if caused due to negligence or default by the Lessor
or its employees, agents or contractors in performing its obligations under this Agreement or due to Lessor or its employees, agents or contractors wilful misconduct. 
 e. Covenant relating to Employee and Lessee’s related Obligations 
  

	 	i.	The Business in the Demised Premises shall be operated by the Lessee alone, either by itself or through its employees, agents, contractors, independent consultants or
representatives or by the employees, agents, contractors, independent consultants or representatives of the Lessee’s affiliates, its group companies or associated entities. The Lessee shall at all times be responsible for the act/s, omission/s
and/or commission/s conduct of such employees (by whatever name called) and persons. 

  

	 	ii.	The Lessee agrees that the Lessee shall be responsible for act/s, omission/s and/or commission/s in respect of the Demised Premises or in said Building committed by its
employees and/or anyone else acting under the authority of the Lessee. 

 f. Covenant relating to the Title of
the Demised Premises 
  

	 	i.	The Lessee has, relying on representations of the Lessor that it has good title clear of all encumbrances, except as stated herein, accepted the title and status of the
Demised Premises. 

  
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	 	ii.	The Lessee agrees and confirms that except for the limited use and occupation of the Demised Premises as per this Agreement, the ownership rights and title in respect
of the Demised Premises shall always remain with the Lessor, unless the Lessor assigns the same in favour of any third party. 

  

	 	iii.	Save as otherwise provided in this Agreement, no other right, title or interest in the Demised Premises shall pass to the Lessee by virtue of this Agreement. It is
agreed and accepted between the Parties that this lease is exclusively for the right to use and occupy the Demised Premises and may not in any way be treated as any sale, agreement to sell, transfer, etc. 

 

	 	iv.	The Lessee also agrees that it shall neither transfer nor assign nor permit any other person/s to enter the Demised Premises, nor Sub-Let or License the Demised
Premises to any third party other than to the Lessee’s sister concerns, associated entities, affiliates and group companies. The Lease permission herein granted is personal to the Lessee and the same is non-transferable in any manner
whatsoever. It is agreed by the Lessee that the lease herein created in favour of the Lessee is personal in nature and is restricted for the enjoyment of the Lessee only as mentioned aforesaid. Provided that after the Lock-in Period, the Lessee may
at any time by giving 6 (six) months prior notice, return a portion of the Demised Premises, which shall not be less than the area of one unit and which shall have an independent access and is saleable / leasable as an independent premises. In such
event, the Lease Rent shall reduce proportionately for the remainder of the Lease Period. 

  

	10.	TERMINATION 

 This
Agreement may be terminable under all or any of the following circumstances, namely: 
  

	 	a.	The validity of this Agreement will come to an end and the Agreement will expire ipso facto by efflux of time at the end of the Lease Period; 

 

	 	b.	On happening of the Breach and/or a Material Breach event and if the non-defaulting party elects to terminate the Agreement in such event, in the manner provided
hereinbelow; 

  
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	 	c.	By mutual consent of the Parties; 

  

	 	d.	Upon the occurrence of any of the Force Majeure events like fire, accident, riots, flood, earthquake, storm, terrorist activities, war, Act of God, which results in
closure of Business of me Lessee in the Demised Premises it shall be declared an event of “Force Majeure”. It is clarified that a Force Majeure event will be declared as such only if such as event affects the physical condition of
the Demised Premises resulting in the Lessee being unable to use or have safe access to the Demised Premises but such event shall not include any other event such as but not limited to Business recession, economic breakdown or strikes. If such event
of Force Majeure continues for a period of more than 30 (thirty) days, the Lessee may, at its option, give to Lessor a termination notice to immediately terminate the Agreement and forthwith refund the Security Deposit to the Lessee. It is expressly
clarified that on happening of the Force Majeure event, the Lessee shall also be entitled to immediately suspend the payment of Lease Rent and other charges under this Agreement; 

 

	 	e.	After expiry of 54(fifty four) months from the Handover Date i.e. with effect from the expiry of the Lock-in Period and thereafter, the Lessee can terminate/cancel this
Agreement at any time by giving 6 (six) months advance written notice to terminate the Agreement. 

  

	11.	CONSEQUENCES OF BREACH 

 In the event of a breach of a representation, warranty, undertaking or covenant (not specified as being a Material Breach) by either Party or a breach of any of the terms and conditions of this Agreement,
the other Party (“Non Defaulting Party”) may, if it wishesgive the Party in default (“Defaulting Party”) a notice of such breach. The Defaulting Party shall rectify such breach within a period of 30 (thirty) days
(“Cure Period”). Further, in case the Defaulting Party fails to cure the breach within the Cure Period, the breach will then constitute a Material Breach and the consequences of Material Breach shall follow. If in the event such
breach -is cured by the Defaulting Party within the Cure Period (including by payment of any compensation), the Agreement shall continue as envisaged herein. 

  
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	12.	CONSEQUENCES OF MATERIAL BREACH 

 In the event of a Material Breach by either Party, the Non-Defaulting Partymay, if it wishes, give the Defaulting Party a notice of such breach. The Defaulting Party shall rectify such breach within a
period of 15(fifteen) working days (“Material Breach Cure Period”) of receipt of such notice, failing which it shall be lawful, but not obligatory, for the Non-Defaulting Party to pre-determine and terminate this Agreement.

  

	13.	RIGHTS AND OBLIGATIONS OF THE LESSEE ON EXPIRY OR SOONER DETERMINATION OF LEASE PERIOD 

 

	 	a.	The Lessee shall, on or before the last day of the Lease Period, subject to receiving a refund of the Security Deposit or the Security Deposit had been adjusted:

  

	 	i.	cease to carry on the Business in and from the Demised Premises and every part thereof and shall cease to use the Demised Premises; 

 

	 	ii.	remove its signage(s) from the reception/office front/ the Demised Premises and vacate it; 

 

	 	iii.	remove and/or cause to be removed itself, its employees, servants, representatives, (by whatever name called) and their respective belongings, chattels, articles and
things from the Demised Premises; 

  

	14.	INDEMNITY 

 Without
prejudice to the other rights which the other Party may have against it, the Defaulting Party agrees to indemnify, defend and hold harmless the other party Non Defaulting Party from and against any and all claims, actions, demands, losses, damages,
liability and judgments including such costs, reasonable attorney’s fees and expenses as may be awarded by a court/arbitral tribunal, incurred by the Non Defaulting Party by reason of or resulting from any inaccuracy in the representations, or
due to the non-performance, non-compliance, non-observance or breach of any of its obligations, covenants, conditions under this Agreement or to the applicable laws by the Defaulting Party in respect of the Demised Premises or arising out of or
relating to and/or resulting from activities in, on or about the common areas. It is clarified that the Defaulting Party shall indemnify the Non Defaulting Party even after the termination of the Agreement, for a cause of action which has arisen
prior to the termination of the Agreement. 

  
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	15.	SIGNAGE 

 The
Lessee agrees and accepts to install only its own identity/brand signage i.e. “LIONBRIDGE” on the front facade of the Demised Premises strictly in accordance with the statutory rules, regulations and guidelines and bye-laws
of the said Building (if any) and also at the ground floor directory in the atrium of the said Building and entrance of the Demised Premises, without any additional rent and charges and cost or expense for affixation thereof. 

 

	16.	STAMP DUTY AND REGISTRATION CHARGES 

 The Lessee hereby confirm that all payments, required to be made under the provisions of the Bombay Stamp Act and the Indian Registration Act, like payment of the stamp duty and registration charges etc.,
in respect of this Agreement shall be borne and paid by the Lessee alone. 
  

	17.	NOTICE 

 All
communications, notices, consents, orders or other matters between the Parties under this Agreement may be served in writing by registered post acknowledgement due and/or, Courier service and/or Fax or e-mail with delivery receipts or Hand delivery
with acknowledgment receipt. 
 All such notices and other matters shall be sent at the addresses of the Parties mentioned herein
above in the Name Clause and shall be deemed delivered on receipt of acknowledgement / delivery receipt / delivery confirmation, as the case may be. 
 In the event of any change of address mentioned herein above, either Party shall inform the other Party promptly about the same. 

 

	18.	DISPUTE RESOLUTION / ARBITRATION 

  

	 	a.	Both Parties shall make best endeavours to settle by mutual consultation any claim, dispute or controversy (“Dispute”) arising out of, or relating to
or under this Agreement, including any Dispute with respect to the existence or validity of this Agreement, the interpretations hereof, the performance of the obligations hereunder, or the breach or alleged breach of this Agreement or any part
thereof. 

  
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	 	b.	If the foregoing procedures fail to resolve the Dispute within 30 (thirty) working days of referral for mediation, such Dispute shall be referred to and finally settled
by arbitration at Mumbai, India, in accordance with laws of India as set forth below: 

 The arbitration
proceedings shall be conducted in English. 
  

	 	i.	The arbitral court shall comprise of a sole arbitrator appointed under the provisions of the Arbitration and Conciliation Act, 1996. In the event that the parties are
unable to agree on to identity of the sole arbitrator mutually, then both the Parties shall appoint the Arbitrator as per the provisions of the Arbitration and Conciliation Act, 1996. 

 

	 	ii.	The provisions of the Arbitration and Conciliation Act, 1996 shall be applicable for the procedure of arbitration. 

 

	19.	GOVERNING LAW AND JURISDICTION 

 This Agreement shall be governed by and construed in accordance with the laws of India. Subject to arbitration, courts in Thane shall have exclusive jurisdiction on all matters arising out of this
Agreement. 
  

	20.	GENERAL 

  

	 	a.	The Parties hereto agree that if at any time, any of the terms, conditions and/ or provisions of this Agreement is/are declared to be invalid or unenforceable to any
extent under the applicable laws or under directions or orders of any judicial or other competent authority, the validity or enforceability of the remaining terms, conditions and provisions of this Agreement shall not be impaired and this Agreement
shall continue to be valid to the fullest extent permitted by law, construed as if it had been executed without such invalid or unenforceable terms, conditions or provisions; 

 

	 	b.	This Agreement shall not constitute or imply any partnership, joint venture, agency, fiduciary relationship or relationship between the Parties other than as expressly
provided by this Agreement. Neither Party shall have nor represent that it has, any authority to make any commitment on behalf of the other Party; 

  
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	 	c.	This Agreement may be executed in two counterparts but all counterparts together shall constitute one and the same instrument. The original document adequately stamped
and registered under law shall be retained by the Lessor for being provided to the bank and a counterpart thereof i.e. certified true copy shall be retained by the Lessee. The Lessor shall provide to the Lessee, a copy of the letter bearing the
acknowledgement stamp of the Bank of Baroda, acknowledging the receipt of the original Agreement; 

  

	 	d.	Any variation, additions and/or modifications of this Agreement between the Parties shall be valid only by way of Deed of Addendum i.e. the same must be reduced in
writing and duly executed by and between the Parties hereto. 

  

	 	e.	The provisions of this Agreement with respect to any obligation of the Lessee to pay any sum owing at or prior to the expiration or termination of this Lease shall
survive the expiration or prior termination of this Lease. Similarly, the indemnity provisions relating to any act prior to expiry or earlier termination of the Agreement to survive termination of the Agreement. 

 

	 	f.	This Agreement shall be binding upon and inure to the benefit of each of the Parties hereto; 

 

	 	g.	Each Party shall bear its own fees and expenses incurred by it incidental to the negotiation, preparation, execution and delivery of this Agreement including fees and
expenses relating to each Party’s counsel, accountants and experts. 

  

	 	h.	Any indulgence shown by Lessor to the Lessee or by the Lessee to the Lessor at any time shall be without prejudice to any rights of the parties under the terms of this
Agreement and shall not be used as a ground of defence by the party to whom indulgence is shown, in a court of law. 

  

	 	i.	The right and obligation of the parties under this Agreement, which by their nature survive the termination of this Agreement, shall not be extinguished by termination
of this Agreement. 

  
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	 	j.	The Lessor may transfer its right, title, interest or management in the said Building, plot or pan thereof, without any prior consent of the Lessee subject lo the terms
of this Agreement including, without limitation, the obligation to refund the Security Deposit and without in any manner adversely affecting the Lessee’s rights contained herein. 

 

	 	k.	The Lease granted by the Lessor to the Lessee is for permissive occupation and use of the Demised Premises, and all terms and conditions of this Agreement dates upon
between the parties have been truly, fully and completely set out herein. 

  

	 	1.	Any and all Fit-out work will be in accordance with the permissions obtained by the Lessee from the local municipal authorities and other statutory authorities, if
required. Upon request, a copy of all such permission shall be marked as true copy and handed over to the Lessor prior to commencement of Fit-out Work. 

  

	 	m.	If as a result of any legislation. Lessee becomes entitled to continue the use and occupation of the Demised Premises beyond the Lease Period, this Agreement shall be
deemed to have been terminated prior to such legislation coming into force. 

  

	 	n.	Both the parties to this Agreement agree, undertake and covenant to abide by and perform the present Agreement both in letter and in spirit and not to cause any breach
of the same. 

 FIRST SCHEDULE HEREINABOVE REFERRED TO: 

ALL THAT Office Premises being Unit Nos. 301, 302, 303 & 304 totally admeasuring about
61,623 sq. ft. carpet area equivalent to 82,164 sq. ft. chargeable area on the 3rd Floor of the Private Information Technology Park building known as “Reliable Tech Park” situated at Gut No 31, Village – Elthan, Airoli, within the municipal limits of Navi Mumbai
Municipal Corporation, Taluka, District and 

  
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Registration District Thane, off. Thane Belapur Road, Navi Mumbai – 400 708, along with 41 (forty one) car parking spaces in the
stilt/compound of the Reliable Tech Park building. 
 IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their
respective hand and seal the day and year first hereinabove written. 
  

							
			
	 SIGNED, SEALED AND DELIVERED BY
	  	)	  			
			
	 THE WITHINNAMED LESSOR
	  	)	  			
			
	 M/s RELIABLE EXPORTS
	  	)	  			
			
	 BY THE HAND OF ITS PROPRIETOR
	  	)	  			
			
	 MR. RAPHAEL SEQUEIRA
	  	)	  	 	/s/    MR. RAPHAEL SEQUEIRA	  
			
	 in the presence of
	  	)	  			
			
	 1.
	  	)	  			
			
	 2.
	  	)	  			
			
	 SIGNED, SEALED AND DELIVERED BY
	  	)	  			

  
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	 THE WITHINNAMED LESSEE
	  	)	  			
			
	 LIONBRIDGE TECHNOLOGIES PRIVATE LIMITED
	  	)	  			
			
	BY HAND OF ITS AUTHORISED SIGNATORY	  	)	  			
			
	 MR.SARATH DIVELLA
	  	)	  	 	/s/    MR. SARATH DIVELLA	  
			
	 Authorised by board resolution dated
	  	)	  	 	18TH MARCH, 2013	  
			
	in the presence of	  	)	  			
			
	 1.      MR. RAMESH SHAH
	  	)	  	 	/s/    MR. RAMESH SHAH	  
			
	 2.      MR. VINAYAK CHOUHULE
	  	)	  	 	/s/    MR. VINAYAK CHOUHULE	  

  
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RECEIPT 
 Received from withinnamed Lessee,                     , a sum of Rs. 36,15,216/- (Rupees Thirty
Six Lacs Fifteen Thousand Two Hundred and Sixteen Only) paid on the execution of Letter of Intent dated 7th February, 2013 by a Demand Draft / Pay Order / Cheque No. 17488 drawn on HSBC Bank, Fort Branch, M.G. Road, dated 6th February 2013 in favour of the Lessor and a sum of Rs. 72,30,432/- (Rupees Seventy Two Lacs Fifteen Thousand Two
Hundred Sixteen Only) paid on the execution of this Agreement by a Demand Draft Pay Order / Cheque No.                      drawn on
                     Bank,
                     Branch,
                    , dated
                     in favour of the Lessor, totalling to Rs. 1,08,45,648/- (Rupees One Crore Eight Lacs Forty Five Thousand Six Hundred and
Forty Eight Only), being 3 (three) month’s Lease Rent. 
 I Say Received: 
 For M/S RELIABLE EXPORTS, 
 Mr. Raphael Sequeira 

Sole Proprietor 
 Witness: 

1. 
 2. 

  
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Annexure A 

Property Card Register 
 Annexure A-1 
 Occupation Certificate 

Annexure A-2 
 Plan of the Demised Premises along with 41 car parking space in the Building 

Annexure B 

NOC Bank of Baroda 

  
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************************************ 
 Dated this          day of March, 2013 
 ************************************* 
 M/s. RELIABLE EXPORTS

 (“LESSOR”) 
 AND 
 LIONBRIDGE TECHNOLOGIES 

PRIVATE LIMITED 
 (“LESSEE”) 
 ******************************** 

  
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 AGREEMENT FOR LEASE 

******************************** 
  

			
		  	 Prepared By
  

ABA LEGAL

Advocates & Consultants
 22/372, Adarsh Nagar Suchita C.H.S. Ltd,
 Veer Nariman Road, Adarsh
Nagar,
 Worli, Mumbai – 400 030

  
 34EX-10.1

 Exhibit 10.1 
 PLATING PROCESSING AGREEMENT 
 This PLATING PROCESSING AGREEMENT (this
“Agreement”) is made as of February 8, 2013 (the “Effective Date”), by and between Zetex (Chengdu) Electronic Company Limited (Party A- the licensed subcontractor), with its registered address at No. 66 East
Rainbow Road, Chenghua District, Chengdu, Sichuan Province, China and Diodes Technology (Chengdu) Company Limited (Party B- the customer), with its registered address at No. 1 Standard Workshop, No. 8 Kexin Road, Chengdu Hi-Tech Zone (West
Park), Chengdu, Sichuan Province, China 611731. Party A and Party B are collectively refer to as “Parties” or individually refer to as “Party” hereinafter. 
 Recital 
 WHEREAS, Party A has already obtained the appropriate plating equipment with
technology and required quality to meet Party B’s demand and to conduct plating for Party B’s products; 
 WHEREAS, Party B wishes to
contract with Party A to utilize Party A’s licensed capacity and equipment for electric plating processing; 
 WHEREAS, Party A hereby
agree to continue to cooperate with Party B for the electric plating of SOT23-18R and other semiconductor products, and both Parties agree to enhance the cooperation, make full use of resources, and improve the efficiency; and 

NOW, THEREFORE, in consideration of the terms and conditions of this Agreement, the receipt and sufficiency of which is hereby mutual acknowledged, both
Parties hereby unanimously agree to the following, in which after the Effective Date of this Agreement, this Agreement shall supercede any other previous agreements between both Parties: 
 1. Party A (Subcontractor) to Party B’s Obligations and Responsibilities 
 1.1 Party A
shall provide the following as cooperation pre-conditions: 
  

	 	(1)	Party A shall provide the necessary workshop and office (including associated supporting area) within Party A; 

 

	 	(2)	Party A shall provide all the necessary electric plating technology and equipments for the plating process; 

 

	 	(3)	Party A shall provide all necessary labor and material for the plating process; 

 

	 	(4)	Party A shall, provide all the necessary public utilities, including water, electricity supply and relevant facilities, for plating of the products;

  

	 	(5)	Party A shall provide qualified employees to insure the technical standards provided by Party B are met; 

 

	 	(6)	Party A shall be responsible for the compliance of the technology, labor, waste treatment and environment protection requirements in connection with plating of the
Products; 

  

	 	(7)	Party A shall be responsible for the compliance of the processing procedure stipulated by Party B and without Party B’s previous written notice, Party A shall not
make any change to such processing procedure during the term of this Agreement; 

  
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	 	(8)	In the event that additional equipment for increased production is needed, Party A shall provide necessary premises and employees in response to that addition (and any
fees incurred shall be paid by Party B). 

  

	 	(9)	Party A is responsible for all aspects of managing its plant facility and operations, including supervision of employees, managing the equipment operations and
performance, facility and equipment maintenance, proper waste treatment, and respective implementation of recommendations resulting from technical audits by Party B or any other audit requiring quality improvements. 

 

	1.2	Party B (Customer) to Party A’s Obligations and Responsibilities 

 

	 	(1)	Party B shall be responsible for providing technology specifications to assure quality; 

 

	 	(2)	Party B shall be responsible for quality examination and technical audit of plating processes; 

 

	 	(3)	Party B shall pay the processing fees according to the provisions in the Appendix 1, attached hereto and made a part of this Agreement. However, either Party
shall have the right to require in written form for adjustment of the processing fee in the event that significant changes occur in the market situation, processing procedure and raw material costs. After both Parties’ negotiation and agreement
upon such adjustment and according to the subsequent written amendment executed by both Parties, the processing fee can be increased or decreased as the case may be. 

 2. Agreement Term 
 The duration of this Agreement commences on
February 1, 2013 and terminates on December 31, 2013. In the event that either party intends to terminate this Agreement, such Party should notify the other Party in writing two (2) months prior to the termination date of this
Agreement; otherwise, this Agreement shall automatically extend for one (1) year each time upon the termination date of this Agreement. If either party intends to give early termination of this Agreement, both Parties should negotiate and then
sign an early termination agreement. 
 3. Payment 
 For the plating under this Agreement, Party B shall make the payment to Party A. And the calculation of the payment shall be based on the aggregate volume of qualified plated products provided by Party A
to determine the unit price in accordance with the way set forth in the Appendix 1. 
  

	3.1	The payment shall be made according to the way as set forth below: 

 Party A shall deliver respectively to Party B within three (3) working days after the end of each calendar month a written report setting forth in reasonable detail, the calculation of the monthly
qualified volume of the plated Products for such calendar month, after the confirmation in three (3) working days of Party B, the aggregate monthly qualified volume confirmed shall be used as the basis to determine the unit price for
calculation of the payment. The Parties agree that the monthly payment shall be made within thirty (30) days as of date on which Party B receives Party A’s invoice. All payments due hereunder shall be made in United States Dollar
(“USD”) for plating processing fee, and shall be made through Telegraphic Transfer (T/T). In the event that any payments that are not paid without reasonable cause on the day such payments are due under this Agreement, Party B shall be
responsible for the interest as a result of the late payment fee, calculated, if late for less than three months, in accordance with the current lending rate of the Bank of China during the same period, and if late for more than three months, in
accordance with the fixed lending rate of the Bank of China during the same period. 

  
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	3.2	Both Parties agree that the unit price listed in the Appendix 1, attached hereto and made a part of this Agreement, shall be reviewed and negotiated by both
Parties once every year during the term of this Agreement. In the event both Parties cannot reach a new unit price for the subsequent year, the unit price which is in effect in the current year shall still be applicable in the subsequent year.

 4. Daily Management and Quality Control 
 Party A shall be responsible for the overall management of the operations under this Agreement. The quality control of the plating shall follow the rules and standards as set forth by Party B. Party A
shall not change the rules and standards of the quality control without Party B’s prior written consent. 
 5. Party A’s
Representation and Warranty 
  

	5.1	Party A has lawful and full rights and authority to provide all of the conditions (workshop, plating license, equipments, employees and necessary utilities) under this
Agreement. 

  

	5.2	The aforementioned rights and authority of Party A to all the agreement conditions are, at present, free and clear of any mortgages, liens, security interests, or other
encumbrances that would nullify this Agreement. 

  

	5.3	There shall be no order or decision by a judicial or administrative body to seal up or to limit the rights to Party A’s agreement terms and conditions in any way.

  

	5.4	All operational conditions are in accordance with the safety standard set by the government. 

 

	5.5	The execution of this Agreement will not (i) violate any constitution, statute, regulation, rule, injunction, judgment, order, decree, ruling, charge, or other
restriction of any government, governmental agency, or court to which Party A is subject or any provision of the articles of association of Party A, or (ii) conflict with, result in a breach of; constitute a default under, result in the
acceleration of, or create in any party the right to accelerate, terminate, modify, or cancel, or require any notice under any material agreement, contract, lease, license, permit, authorization, approval, consent, instrument, or other arrangement
to which Party A is a party or by which it is bound or to which any of its conditions under this Agreement are subject. 

  

	5.6	Party A has full right and authority to operate all of its equipments and facilities and processing conditions and to carry on its business as its presently being
conducted and has all necessary government approval to carry on its business. There is no order, action, investigation or proceeding pending against Party A that may reasonably be expected to adversely affect such licenses, permits, authorizations,
approvals and consents, and Party A has not received notice of any such investigation or pending proceeding. 

  

	5.7	Party A has duly complied in all material respects with, and all of its facilities, business assets, property, leaseholds and equipment used in the conduct of its
business are in compliance with, the provisions of all applicable environmental laws and all rules and regulations thereunder, as well as all similar local laws, rules and regulations. Party A has all of the required environmental permits and is not
in default thereunder and there have been no outstanding citations, notices or orders of noncompliance issued to Party A relating to its business under any such laws, rules or regulations. 

 

	5.8	Party A has not received any notice of expropriation of all or any of its operating conditions. And Party A is not aware of any expropriation proceedings pending or
threatening against or affecting any of Party A’s conditions and terms of this Agreement. 

  
 -3-

 6. Responsibility of Party A 

 

	6.1	Party A shall provide all the workshops, equipments and its accessory facilities in reasonably good condition and with all systems in good working order. In the event
that an overhaul to the workshops, equipments and the related accessory facilities by Party A is necessary to keep a proper working condition, Party A shall inform Party B of the overhaul plan in reasonable detail forty-five (45) days prior to
the proposed overhaul to allow Party B to make necessary arrangement and to provide Party B necessary assistance if requested. 

  

	6.2	Party A shall maintain necessary electric plating capacity for the performance of this Agreement during the term of this Agreement and shall provide copies of relevant
government or government agency permits and other related documents to Party B for Party B’s record retention. Unless otherwise agreed by Party B’s previous written consent, Party A shall not use the plating specifications, know-how or
other similar technical and/or trade secrets provided by Party B during the term of this Agreement for the purposes that may be beyond the purposes of this Agreement. 

 

	6.3	Party A shall be responsible for real estate taxes and insurance associated with the buildings. 

 

	6.4	Party A shall be solely responsible to deal with waste materials and other environmental issues at its own sole expense, in accordance with all applicable laws and
regulations. However, during the term of this Agreement, should the environmental expenses substantially increase due to the compliance with new People’s Republic of China laws governing waste management and regulations or the special
requirement by Party B, both Parties shall negotiate in good faith for adjustment of the unit price of the plated products for the increased expenses subject to Section 3.2. 

 

	6.5	Party A shall be responsible for providing repairs and maintenance at its expense for all equipments and facilities under normal usage. 

 

	6.6	Party A shall follow the ISO-9000 requirements for Party A’s quality control system. And Party A further agrees that in the event there exists higher technical
requirements than the aforesaid ISO-9000, Party A will make all efforts required to follow the higher requirements. 

  

	6.7	Party A shall compensate Party B for damages suffered due to unqualified and defective products as a result of the mistakes or mis-operation by Party A’s staff
during the process of production. 

  

	6.8	Party A hereby promises that if during the term of this Agreement there is any transfer of any kinds in all or partial shares or assets of Party A, this Agreement shall
be binding to the assignee and the assignee shall continue to perform this Agreement. 

  

	6.9	Party A should provide Party B a copy of the approval documents for the plating environmental report obtained by Party A. 

7. Responsibility of Party B 
  

	7.1	Party B shall make the payment set forth in Section 3 of this Agreement. 

 

	7.2	Party B should promise to provide products that require plating process of not less than 10kk per month; otherwise, Party B should pay RMB 5,000 per month as
the minimum maintenance fee for the plating line and plating line employees. 

  

	7.3	Regarding processing wastes and all other environmental problems, the fee shall be split between Party A and Party B in proportion with the manufacturing quantity.

  
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 8. Termination and Cancellation 

 

	8.1	In accordance with Section 2 of this Agreement, Party B shall inform Party A of the intention to terminate this Agreement two (2) months before the expiration
of this Agreement. 

  

	8.2	In the event that one Party wants to terminate this Agreement during the term for special reasons, the terminating party shall notify the other Party by written notice
two (2) months before the proposed termination date. Unless based on both Parties’ mutual written agreement or because of an event of Force Majeure, any sooner termination by any Party shall constitute a breach of this Agreement.

 9. Breach of Agreement and Compensation 
  

	9.1	Party A agree to indemnify Party B all its losses, including but without limitation, any and all reasonable profits, out-of-pocket costs, legal fees, accounting fees
and removal or relocation fees, totaling not exceed two (2) times of the plating fees already received, in relation to, arising from or in connection with the following matters: 

 

	 	(a)	breach of representations or warranties of such Party A as contained in this Agreement; and 

 

	 	(b)	any failure by such Party A to comply with any of its obligations herein. 

  

	9.2	Should Party B breach this Agreement during the term of this Agreement, Party B shall compensate Party A’s losses, and the compensation by Party B shall not exceed
two (2) times of the plating fees it already received. 

  

	9.3	The provisions of Section 9 herein are valid only between both Parties. 

 

	9.4	If Party A due to Party A’s shareholders’ unanimous agreement to cease Party A’s business or operation and caused Party A to breach any of its
obligations under this Agreement, Party A may avoid bear the burden of compensating for any Party B’s loss. 

 10. Force
Majeure 
 Neither party shall be liable for any failure of performance of this Agreement caused by Force Majeure. Each Party
shall bear the respective economic losses caused by the Force Majeure during this Agreement. Party A, except for a re-construction of the premises, shall repair the damaged part of the premises and facilities to a usable condition, to Party B’s
satisfaction within thirty (30) days after the event of Force Majeure (except factory and reset the equipment); otherwise, Party B may suspend the performance of this Agreement or terminate this Agreement. 

Both Parties hereby acknowledge and agree that any expropriation by any government authority of the cooperation condition shall not be
regarded as a Force Majeure event under this Agreement. 
 11. Disputes and Arbitration 

In the event that any disputes arise concerning the performance of this Agreement, both Parties may settle the disputes through friendly
negotiation. Should no settlement be reached within thirty (30) days from the commencing date of such friendly negotiation, the dispute shall be submitted to the branch office of the China Council for the Promotion of International Trade
(“Arbitration Association”) in the jurisdiction of 

  
 -5-

 
Party B’s offices to be settled by arbitration through such Arbitration Association’s rules. The decision of the Arbitration Association shall be final and be binding on both Parties.
Except as otherwise determined by the Arbitration Association, the losing Party shall bear the arbitration fee. Arbitration Association shall appoint no more than three (3) arbitrators, including at least one (1) foreign arbitrator, and
the arbitration shall proceed in both Chinese and English languages. 
 12. Anti-Bribery Laws 

 

	12.1.	Party A acknowledges that Party B is a corporation with substantial presence and affiliation in the United States and, as such, is subject to the provisions of the
Foreign Corrupt Practices Act of 1977 of the United States of America, 15 U.S.C. §§ 78dd-1, et seq., which prohibits the making of corrupt payments (the “FCPA”). Under the FCPA, it is unlawful to pay or to offer to pay anything
of value to foreign government officials, or employees, or political parties or candidates, or to persons or entities who will offer or give such payments to any of the foregoing in order to obtain or retain business or to secure an improper
commercial advantage. 

  

	12.2	Party A further acknowledges that it is familiar with the provisions of the FCPA and hereby agrees that Party A shall take or permit no action which will either
constitute a violation under, or cause Party B to be in violation of, the provisions of the FCPA. 

  

	12.3	Chinese Anti-Bribery Laws. Party A acknowledges and agrees that the Party B operates and interacts with Party A mostly in the People’s Republic of China; and
therefore, both parties are subject to the Chinese anti-bribery laws of the Chinese Criminal Code and related regulations under the Chinese government. Under the Chinese anti-bribery laws, it is unlawful to offer valuable property to any state or
government personnel in return for securing certain improper benefits for the offering party. Party A further acknowledges that Party A is familiar with the provisions of the Chinese anti-bribery laws of the Chinese Criminal Code and related
regulations and hereby agrees that Party A shall not take or permit no action which will either constitute a violation under, or cause Party B to be in violation of, the provisions of the Chinese anti-bribery laws of the Chinese Criminal Code and
related regulations. 

 13. Miscellaneous 
  

	13.1	This Agreement comes into effect upon being jointly signed by both Parties. This Agreement shall not be modified, amended, canceled or altered in any way, except by an
instrument in writing signed by both Parties. 

  

	13.2	In connection with matters that are not set forth in this Agreement, both Parties may reach a supplementary agreement through friendly negotiation, in accordance with
the relevant regulations the People’ s Republic of China. 

  

	13.3	Severability. Should any term, clause or provision of this Agreement be judged to be invalid for any reason whatsoever, such invalidity shall not affect the validity or
operation of any other term, clause or provision, and such invalid term, clause or provision shall be deemed to have been deleted from this Agreement. 

  

	13.4	Governing Law. This Agreement is governed by, and shall be construed and interpreted in accordance with, the law of the People’s Republic of China.

  

	13.5	Integrity. This Agreement and all of the attachments, amendments, and modifications hereunder constitutes the complete and only contract among both Parties on the
subject matter of this Agreement. This Agreement and all of the attachments, amendments, and modifications replace all previous oral or written agreements, contracts, understandings, and communications of both Parties in respect to the subject
matter of this Agreement and all of the attachments, amendments, and modifications. 

  
 -6-

	13.6	No Partnership or Agency. No party shall have the right, power or authority to create or assume any obligation or duty, expressly or implied, on behalf of any other
parties. 

  

	13.7	This Agreement is written in Chinese and in English and has two originals for each language. Each Party shall keep one Chinese version and one English version and both
languages are equally authentic. 

  

	13.8	Except as required and requested from court orders, laws and regulations of the United States of America, People’s Republic of China and other relevant countries
to disclose this Agreement, both Parties shall make the contents of this Agreement completely confidential. 

  

	13.9	This Agreement comprises the entire understanding between the Parties with respect to its subject matters and supersedes any previous or contemporaneous communications,
representations, or agreements, whether oral or written. For purposes of construction, this Agreement will be deemed to have been drafted by both Parties. No modification of this Agreement will be binding on either Party unless in writing and signed
by an authorized representative of each Party. 

  

									
					
	Party A:	 	 Zetex (Chengdu) Electronic
 Company Limited
  
	 		 	Party B:	 	 Diodes Technology (Chengdu)
 Company Limited
  

		 		 		 		 	
	Signature:	 	/s/ Shi Zhi Ming	 		 	Signature:	 	/s/ Justin Kong
		 		 		 		 	
	Date:                          
                       	 		 	Date:                          
                       

  
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 APPENDIX 1 
 Both Parties agreed that the plating process unit price for Party B’s products is as follows: 
 1. After logistic department gets the Customs to complete the review, then immediately the cooperation method shall be in USD, and the pricing in USD shall be USD0.4376/KP. The currency exchange rate
shall be the averaged rate to be 6.3. If the currency exchange rate varies by plus or minus two percent (2%), then both Parties shall proceed with negotiation for adjustment accordingly. Both Parties’ logistic departments shall cooperate in
RMB, and the pricing in RMB shall be RMB2.7568/KP, prior to the completion of Customs’ review, 
 2. Products shipment flow from CAT to
ZCEL, it shall be DDU as the shipping business term. 
 3. Products shipment flow from ZCEL to CAT, it shall be EXW as the shipping business
term. 
 4. This Appendix 1’s effective period is from January 1, 2013 to December 31, 2013. 

5. This Appendix 1 comprises the entire understanding between the Parties with respect to its subject matters and supersedes any previous or
contemporaneous communications, representations, or agreements, whether oral or written. No modification of or negotiation to revise this Appendix 1 will be binding on either Party unless in writing and signed by a legal representative or an
authorized representative of each Party. 
  

									
					
	Party A:	 	 Zetex (Chengdu) Electronic
 Company Limited
  
	 		 	Party B:	 	 Diodes Technology (Chengdu)
 Company Limited
  

		 		 		 		 	
	Signature:	 	/s/ Shi Zhi Ming	 		 	Signature:	 	/s/ Justin Kong
		 		 		 		 	
	Date:                          
                       	 		 	Date:                          
                       

  
 -8-

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