Document:

exv10w4

Exhibit 10.4

Execution
Copy

 

CONSTRUCTION AGENCY AGREEMENT

Dated as of May 14, 2008

between

Spirit AeroSystems, Inc.,

as Construction Agent

and

The North Carolina Global TransPark Authority,

as Landlord

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	 	Page	 
	ARTICLE I DEFINITIONS; RULES OF USAGE
	 	 	1	 
	 
	 	 	 	 
	1.1. Definitions
	 	 	1	 
	1.2. Interpretation
	 	 	1	 
	 
	 	 	 	 
	ARTICLE II APPOINTMENT OF THE CONSTRUCTION AGENT
	 	 	1	 
	 
	 	 	 	 
	2.1. Appointment
	 	 	1	 
	2.2. Construction Contracts and Plans and Specifications
	 	 	2	 
	2.3. Acceptance and Undertaking
	 	 	3	 
	2.4. Term
	 	 	4	 
	2.5. Scope of Authority
	 	 	4	 
	2.6. Delegation of Duties
	 	 	5	 
	2.7. Covenants of Construction Agent
	 	 	5	 
	2.8. Appointment of Construction Consultant
	 	 	6	 
	 
	 	 	 	 
	ARTICLE III INSURANCE
	 	 	6	 
	 
	 	 	 	 
	3.1. General Contractor’s Insurance
	 	 	6	 
	3.2. General Liability Insurance
	 	 	7	 
	3.3. Automobile Liability Insurance
	 	 	7	 
	3.4. Workers Compensation
	 	 	7	 
	3.5. Umbrella or Excess Liability Insurance; Errors
and Omissions Insurance
	 	 	7	 
	3.6. Builder’s Risk Insurance
	 	 	8	 
	3.7. Bonding
	 	 	9	 
	3.8. Endorsements
	 	 	9	 
	3.9. Waiver of Subrogation
	 	 	9	 
	3.10. Conditions
	 	 	10	 
	3.11. Insurance Premiums and Deductibles
	 	 	11	 
	3.12. Contractors’ Equipment Insurance
	 	 	11	 
	 
	 	 	 	 
	ARTICLE IV THE CONSTRUCTION
	 	 	12	 
	 
	 	 	 	 
	4.1. Construction
	 	 	12	 
	4.2. Amendments; Modifications
	 	 	12	 
	4.3. Payment of Construction Costs
	 	 	12	 
	4.4. Completion Date
	 	 	13	 
	4.5. Final Plans and Specifications
	 	 	13	 
	 
	 	 	 	 
	ARTICLE V PAYMENT OF FUNDS
	 	 	14	 
	 
	 	 	 	 
	5.1. Release of Construction Allowance
	 	 	14	 
	5.2. Applications for Advances
	 	 	14	 
	5.3. Payment of Vendors
	 	 	15	 

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	 	 	 	Page	 
	5.4. Procedures for Applications for Payment
	 	 	15	 
	5.5. Construction Dispute Resolution
	 	 	15	 
	 
	 	 	 	 
	ARTICLE VI CONSTRUCTION PERIOD EVENTS OF DEFAULT
	 	 	16	 
	 
	 	 	 	 
	6.1. Construction Period Events of Default
	 	 	16	 
	6.2. Actions on Termination
	 	 	17	 
	 
	 	 	 	 
	ARTICLE VII CONSTRUCTION FORCE MAJEURE EVENTS
	 	 	17	 
	 
	 	 	 	 
	7.1. Construction Force Majeure Events
	 	 	17	 
	 
	 	 	 	 
	ARTICLE VIII MISCELLANEOUS
	 	 	18	 
	 
	 	 	 	 
	8.1. Notices
	 	 	18	 
	8.2. Successors and Assigns
	 	 	18	 
	8.3. GOVERNING LAW
	 	 	18	 
	8.4. Remedies of Construction Agent
	 	 	18	 
	8.5. Amendments and Waivers
	 	 	18	 
	8.6. Counterparts
	 	 	18	 
	8.7. Severability
	 	 	19	 
	8.8. Headings and Table of Contents
	 	 	19	 
	8.9. Approvals By Landlord
	 	 	19	 
	8.10. Termination of Agreement
	 	 	19	 
	8.11. Additional Definitions
	 	 	19	 

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CONSTRUCTION AGENCY AGREEMENT

     THIS CONSTRUCTION AGENCY AGREEMENT (this “Agreement”), dated as of May 14, 2008 (the
“Effective Date”), between The North Carolina Global TransPark Authority, a body politic
and corporate of the State of North Carolina (the “Landlord”) and Spirit AeroSystems, Inc.,
a Delaware corporation (the “Construction Agent”).

PRELIMINARY STATEMENT

     A. Landlord and Construction Agent are parties to that certain Lease Agreement dated as of May
14, 2008 (as amended, modified, extended, supplemented, restated and/or replaced from time to time,
the “Lease”), pursuant to which Construction Agent, as tenant (in such capacity, the
“Tenant”) has agreed to lease that certain Land and Improvements (collectively, the
“Leased Premises”) located at the Global TransPark, in Lenoir County, North Carolina.

     B. In connection with the Lease and subject to the terms and conditions hereof, (i) Landlord
desires to appoint Construction Agent as its sole and exclusive agent in connection with the
construction of the Improvements and (ii) Construction Agent desires to accept such appointment in
accordance with the terms and conditions hereof.

     NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
covenant and agree as follows:

ARTICLE I

DEFINITIONS; RULES OF USAGE

     1.1. Definitions.

     For purposes of this Agreement, capitalized terms used in this Agreement and not otherwise
defined herein shall have the meanings assigned to them in the Lease. Unless otherwise indicated,
references in this Agreement to articles, sections, paragraphs, clauses, appendices, schedules and
exhibits are to the same contained in this Agreement.

     1.2. Interpretation.

     The rules of usage set forth in Section 35 of the Lease shall apply to this Agreement.

ARTICLE II

APPOINTMENT OF THE CONSTRUCTION AGENT

     2.1. Appointment.

     Subject to the terms and conditions hereof, Landlord hereby designates and appoints
Construction Agent as its exclusive agent, and Construction Agent accepts such appointment, in

 

 

connection with the construction of Landlord’s Alterations more particularly described in the
preliminary drawings for Project Alpha, an aerospace manufacturing facility, copies of which are
attached hereto as Exhibit “A” (collectively, the “Initial Plans and
Specifications”). For purposes hereof, the “Work” means all construction services, work of all
trades, all labor materials, equipment and services provided or to be provided by the GC under the
Construction Agreement and as is otherwise necessary to complete the improvements described in the
Plans and Specifications.

     2.2. Construction Contracts and Plans and Specifications.

     (a) In connection with the prosecution of the Work, Construction Agent, acting as agent for
the benefit of Landlord, agrees to retain The Haskell Company (the “GC”) to prepare the
plans and specifications for the Work and to act as the general contractor for the prosecution of
the Work. The Work will be performed pursuant to a design-build, guaranteed maximum price
agreement (the “Construction Agreement”) with the GC in form and substance reasonably
acceptable to Landlord and Construction Agent. The Construction Agreement will include a covenant
that GC will use commercially reasonable efforts to comply with Section 63A-19 of the North
Carolina General Statutes concerning goals for participation by minorities, women and the disabled.

     (b) Upon execution of this Agreement, Construction Agent shall cause the GC to prepare (i)
detailed schematic architectural drawings and specifications for the Work (together with the
Initial Plans and Specifications, the “Schematic Plans and Specifications”), (ii) a
detailed budget based on the Schematic Plans and Specifications (the “Schematic Budget”)
and (iii) an estimate for a guaranteed maximum price (the “Estimated GMP”). Upon
completion of a draft Construction Agreement that Construction Agent and the GC are prepared to
execute, the Schematic Plans and Specifications, the Schematic Budget and the Estimated GMP
(collectively, “Construction Deliverables”), Construction Agent shall forward such
Construction Deliverables to Landlord for its review and approval. Landlord shall have a right to
object to only those matters set forth in the Construction Deliverables which would (i) violate any
material term of this Agreement or any of the other Operative Documents, (ii) violate applicable
federal, state or county law, (iii) violate the terms and conditions of the agreements between
Landlord and Lenoir County, North Carolina that are listed on Exhibit “B” to this Agreement
(collectively, the “County Agreements”), or (iv) violate the terms of the GLF Grant
Agreement. The Construction Agent acknowledges that Landlord’s approvals of the Construction
Deliverables under Section 2.2(b) above are subject to obtaining the approval of GLF. If Landlord
or GLF fail to object within fifteen (15) business days of receipt of the Contract Deliverables,
Landlord and GLF shall be deemed to have approved the Construction Deliverables.

     (c) Anything herein to the contrary notwithstanding, upon Landlord’s and GLF’s approval of the
Construction Deliverables, Landlord will authorize Construction Agent in writing to execute, acting
as the agent for the benefit of Landlord, (i) the Construction Agreement and (ii) such other
construction agreements necessary for the prosecution and completion of the Work (collectively, the
“Work Agreements”), solely as agent for Landlord up to the amount of the Construction
Allowance and for its own account for any amount in excess thereof. The

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Work Agreements may provide that Landlord shall be solely responsible for performance by
Landlord as “owner” thereunder; provided, however, the GC and all other applicable
contractors shall agree that any claim for breach and/or damages under each Work Agreement shall be
limited to a liquidated amount not to exceed the Construction Allowance. Construction Agent will
agree to be obligated for all Additional Costs. Copies of all Work Agreements shall be provided to
Landlord promptly following execution thereof.

     (d) Within 120 days of approval of the Construction Deliverables and Construction Agent’s
execution of the Construction Agreement, Construction Agent, acting as agent for the benefit of
Landlord, shall (i) cause the GC to complete and finalize the bidding of the Work, (ii) develop the
Schematic Plans and Specifications into design, plans and drawings and construction plans and
drawings (the approved plans, drawings and specifications for Landlord’s Alterations being referred
to herein as the “Plans and Specifications”), (iii) develop and refine the Schematic Budget
until a final guaranteed maximum price (the “GMP”) and a final budget (the
“Budget”) is agreed between Construction Agent and the GC and (iv) provide evidence that
the insurance required hereunder is being maintained by the GC in the form required hereunder.

     (e) As long as the Plans and Specifications do not constitute a Material Modification of the
Schematic Plans and Specifications, and as long as the final GMP is within ten percent (10%) of the
Estimated GMP, then the Construction Agent shall not need to obtain further consents or approvals
from the Landlord or the GLF in respect of the Plans and Specifications, the GMP and the Budget;
provided, that, Construction Agent shall provide copies of final Plans and
Specifications and the final Budget to the Landlord when complete. Otherwise, if the final Plans
and Specifications constitute a Material Modification from the approved Schematic Plans and
Specifications or if the final GMP is greater or less than the Estimated GMP by more than ten
percent (10%), then final Plans and Specifications, final Budget and final GMP shall be subject to
the approval of the Landlord (and the GLF), which approval shall not be unreasonably withheld,
conditioned or delayed. Thereafter, prior to making any material changes or amendments to the
Construction Agreement, the Plans and Specifications or the Budget, Construction Agent shall
forward the proposed change or amendment to Landlord for its review and approval. Landlord shall
have a right to object to only those changes or amendments to the Construction Agreement, the Plans
and Specifications or the Budget which would (i) violate any material term of this Agreement or any
of the other Operative Documents, (ii) violate applicable federal, state or county law, (iii)
violate the terms and conditions of any of the County Agreements, (iv) violate the terms of the GLF
Grant Agreement or (v) result in a Material Modification of the Work as described in the Plans and
Specifications. The failure of Landlord to object within ten (10) business days of receipt of the
proposed change or amendment shall be deemed acceptance thereof.

     2.3. Acceptance and Undertaking.

     Construction Agent hereby unconditionally accepts the agency appointment and undertakes, for
the benefit of Landlord, to cause to be completed the Work in accordance with this Agreement, the
Lease and the Work Agreements (collectively, the “Operative Documents”). To the extent of
Escrow Funds available, Landlord agrees to cooperate with all of Construction

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Agent’s reasonable requests for information and to sign any applications reasonably required
for the prosecution of the Work.

     2.4. Term.

     This Agreement shall commence on the Effective Date and shall expire on the Completion Date
(the “Construction Period”), except with respect to those obligations which by their terms
survive termination or expiration hereunder.

     2.5. Scope of Authority.

     (a) Upon authorizing the Construction Agent to execute and deliver the Construction Agreement
as provided in Section 2.2(e) above, Landlord hereby expressly authorizes Construction Agent, or
any authorized agent of Construction Agent, and Construction Agent unconditionally agrees for the
benefit of Landlord, subject to Section 2.5(b), to take all action necessary or desirable
for the performance and satisfaction of any and all of Landlord’s obligations under any Work
Agreement and to fulfill all of the obligations of Construction Agent including:

     (i) all design and supervisory functions relating to the Work;

     (ii) negotiating, executing, performing and enforcing all contracts and arrangements to
develop, install, construct and test the Work;

     (iii) obtaining all necessary permits, licenses, consents, approvals, entitlements and
other authorizations from all Governmental Authorities in connection with the development,
acquisition, installation, construction and testing of the Work; and

     (iv) maintaining all books and records with respect to the Leased Premises, the Work
and the construction, operation and management thereof.

     (b) No such Work Agreement executed by Construction Agent, as agent for Landlord hereunder,
will increase the obligations of Landlord beyond the obligations of Landlord as are expressly set
forth in Section 4(a) of the Lease. All Work Agreements shall comply with the provisions
of this Agreement.

     (c) Subject to the terms and conditions of the Operative Documents and this Agreement,
Construction Agent shall have sole management, responsibility and control over the installation,
construction and testing means, methods, sequences and procedures with respect to the Work.

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     2.6. Delegation of Duties.

     Construction Agent may execute any of its duties under this Agreement by or through agents,
contractors, employees or attorneys-in-fact; provided, however, that no such delegation shall limit
or reduce in any way Construction Agent’s duties and obligations under this Agreement.

     2.7. Covenants of Construction Agent.

     Subject to Landlord’s deposit of the Construction Allowance with the Escrow Agent (as
hereinafter defined) and approval of the payment of the Advances (as hereinafter defined) but only
to the extent of the Escrow Funds (as hereinafter defined) available, Construction Agent hereby
covenants and agrees that it will:

     (a) following the Effective Date, cause the Work to be diligently prosecuted in a good and
workmanlike manner, in accordance with the Operative Documents and otherwise in accordance with
Section 4.1 hereof;

     (b) use commercially reasonable efforts to cause the Completion Date (as hereinafter defined)
to occur on or before the Construction Deadline (as hereinafter defined);

     (c) use commercially reasonable efforts to cause the completion of the Work to occur on or
before the Outside Completion Date, free and clear (by removal or bonding) of Liens or claims for
materials supplied or labor or services performed in connection with the development, acquisition,
installation, construction or testing thereof;

     (d) notify Landlord in writing not more than ten (10) business days after Construction Agent
obtains knowledge of, or its receipt of oral or written notification of, the occurrence of any
event which, in the reasonable judgment of Construction Agent is reasonably likely to (i) prevent
completion of the Work prior to the Outside Completion Date, (ii) cause the costs for the Work to
exceed the Construction Allowance or (iii) any abandonment of the Work by the GC;

     (e) include in the Budget all deductible amounts, less any deductibles that are paid directly
by the GC, if any, regarding insurance policies related to the Work in place from time to time
pursuant to the Work Agreements (including, without limitation, all insurance required to be
maintained pursuant to Article III of this Agreement);

     (f) cause all outstanding punch list items with respect to Work to be completed by the earlier
of the Outside Completion Date or the date any such items are required to be complete by any
applicable Legal Requirements;

     (g) take all commercially reasonable and lawful measures in its role as Construction Agent
necessary to defend against any Taking regarding the Leased Premises prior to the Completion Date;

5

 

     (h) subject to receipt of a portion of the Escrow Funds in reimbursement thereof, prior to and
as a condition of commencing and continuing the Work, as agent for Landlord, to the fullest extent
commercially available, procure insurance for the Leased Premises during the Construction Period
(i) in accordance with the provisions of Article III hereof and (ii) as Landlord shall otherwise
reasonably request from time to time, for such other insurable risks which Landlord determines are
not otherwise sufficiently covered.

     2.8. Appointment of Construction Consultant

     Landlord shall appoint a construction consultant reasonably acceptable to Construction Agent
and the GLF (the “Construction Consultant”) to consult with Landlord with respect to the
construction, development and equipping of the Leased Premises, to perform inspections of the Work
to determine the percentage of completion of construction in accordance with the Plans and
Specifications, to review the Plans and Specifications to determine if there has been any Material
Modification of the Work as described in the Plans and Specifications, to review any proposed
amendments or modifications to the Plans and Specifications to determine if such amendments or
modifications would result in a Material Modification of the Work as described in the Plans and
Specifications and to review each Application for Payment. At Landlord’s request, Construction
Agent shall promptly deliver to Construction Consultant copies of all documents, instruments,
notices, Applications for Payment and other communications to be delivered to Landlord under this
Agreement and/or the Work Agreements. All fees and expenses of the Construction Consultant in
performing such services shall be provided for in the Budget based on information provided by
Landlord.

ARTICLE III

INSURANCE

     3.1. General Contractor’s Insurance

     To the fullest extent commercially available, Construction Agent shall cause the GC to
maintain and to cause Subcontractors to maintain regarding the Leased Premises in full force and
effect at all times during the Construction Period, insurance policies with (i) responsible
insurance companies authorized to do business in the State of North Carolina (if so required by law
or regulation) and that are in compliance with the insurance laws of the State of North Carolina,
with an A.M. Best’s Key Rating Guide rating of A or better and a financial size category of X or
higher, unless otherwise approved by Construction Agent and Landlord or (ii) other companies
acceptable to Construction Agent and Landlord, in all cases with regard to subsection (i) or (ii)
above with limits and coverage provisions sufficient to satisfy the requirements set forth in
Section 3.2 through 3.12 below. With the exception of deductible amounts covered
and paid by the GC pursuant to the Construction Agreement, all loss payments due under any
deductible shall be included by Construction Agent in the Budget and made from the Escrow Funds.
Any liability insurance policy shall name the Construction Agent and Landlord as an “Additional
Insured” and any property policy shall name the Construction Agent and Landlord as a “Loss Payee”
as their interests may appear.

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     3.2. General Liability Insurance

     Throughout the period when work is performed and until final acceptance by Construction Agent
and Landlord, GC shall carry and maintain General Liability insurance with available limits of not
less than Two Million Dollars ($2,000,000) per occurrence for bodily injury, including death, and
property damage combined for Claims against Construction Agent, each contractor and each
subcontractor. GC shall ensure that all Subcontractors carry and maintain General Liability
insurance with available limits of not less than One Million Dollars ($1,000,000) per occurrence
for bodily injury, including death, and property damage combined for Claims against Construction
Agent and Landlord, each contractor and each subcontractor. Such insurance shall be in an
occurrence form, with insurers reasonably acceptable to the Construction Agent and Landlord, and
contain coverage for all premises and operations (which coverage shall remain in effect for a
period of at least five (5) years following the Completion Date), broad form property damage,
blanket contractual liability and products and completed operations with limits of not less than
One Million Dollars ($1,000,000) per occurrence. Such insurance shall also provide coverage for
personal injury insurance and independent contractors with a $1,000,000 minimum limit per
occurrence for combined bodily injury and property damage provided that policy aggregates, if any,
shall apply separately to claims occurring with respect to the Improvements and shall cover any
loss sustained due to the accidental interruption or failure of supplies of electricity, gas,
sewers, water or telecommunication up to the terminal point of the utility supplier with the Leased
Premises.

     3.3. Automobile Liability Insurance

     Automobile liability insurance for any liability arising out of claims for bodily injury and
property damage covering all owned (if any), leased (if any) and hired vehicles used in the
performance of GC’s obligations under the Construction Agreement with a $1,000,000 minimum limit
per accident for combined bodily injury and property damage and containing appropriate no-fault
insurance provisions wherever applicable.

     3.4. Workers Compensation

     Providing statutory coverage required by the workers compensation laws of the state in which
the Work is located and including “employers liability” with limits of: $1,000,000 “bodily injury
each accident”, $1,000,000 “bodily injury by disease”, each employee; $1,000,000 “bodily injury by
disease” policy limit. Such policies shall include “stop gap” and “voluntary coverage”.

     3.5. Umbrella or Excess Liability Insurance; Errors and Omissions Insurance

     (a) Umbrella or excess liability insurance on an occurrence basis covering claims in excess of
the underlying insurance described above, with a $5,000,000 minimum limit per occurrence. Such
insurance shall contain a provision that it will not be more restrictive than the primary
insurance, provided that aggregate limits of liability, if any, shall apply separately to claims
occurring with respect to the Improvements.

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     (b) Construction Agent shall cause the GC to procure, maintain and pay for errors and
omissions insurance with limits of no less than Two Million Dollars ($2,000,000) per occurrence.

     3.6. Builder’s Risk Insurance

     During the Construction Period with respect to the Leased Premises, property damage insurance
in the amount of not less than 100% of the guaranteed maximum price set forth in the Construction
Agreement on an “all risk” basis insuring Construction Agent and Landlord, as their interests may
appear, including coverage for the perils of earth movement (including but not limited to
earthquake, landslide, subsidence and volcanic eruption), wind, flood, terrorist acts, if
commercially available for similar operations in the Southeast region of the United States, at
commercially reasonable cost, and boiler and machinery accidents.

     (a) Generally. The builder’s risk policy shall provide coverage for (i) the
buildings, all fixtures, materials, supplies, and machinery of every kind to be used in, or
incidental to, the Work if the acquisition of any such item was funded with one or more Advances,
(ii) the Improvements, (iii) property of others in the care, custody or control of GC or of a
contractor to the extent GC is under obligation to insure for physical loss or damage, (iv) all
preliminary works and temporary works, and (v) electronic equipment and media.

     (b) Additional Coverages. The builder’s risk policy shall insure (i) inland transit
with sub-limits sufficient to insure the largest single shipment to or from the Leased Premises
from anywhere within the United States, Canada or other anticipated point of shipment, (ii)
attorney’s fees, architect’s fees and other consulting costs, and permit fees directly incurred in
order to repair or replace damaged insured property in an aggregate amount up to Two Million
Dollars ($2,000,000), (iii) expediting expenses, (iv) off-site storage within one hundred (100)
feet of the Leased Premises with sub-limits sufficient to insure the full replacement value of any
property or equipment not stored on the Leased Premises, (v) the removal of debris, and (vi)
demolition and increased costs of construction due to the operation of building laws or ordinances.

     (c) Special Clauses. The builder’s risk policy shall include (i) a storm/earthquake
clause, (ii) a requirement that the insurer pay losses within thirty (30) days after receipt of an
acceptable proof or loss or partial proof of loss, (iii) a clause making this insurance primary
over any other insurance (except any such builder’s risk policy placed and maintained by
Construction Agent or Landlord or an Affiliate of Landlord which covers the Leased Premises) and
(iv) a clause stating that the policy shall not be subject to cancellation by the insurer except
after thirty (30) days prior written notice for non-payment of premium or for fraud or material
misrepresentation by Construction Agent or Landlord.

     (d) Access and Equipment Coverages. The builder’s risk policy shall (i) include an
interim payments (or partial payment) clause allowing for the monthly payment of a claim pending
final determination of the full claim amount, (ii) cover loss sustained when access to the Leased
Premises is prevented due to an insured peril at premises in the vicinity of the Leased Premises,
(iii) cover loss sustained due to the action of a public authority preventing access to the

8

 

Leased Premises due to imminent or actual loss or destruction arising from an insured peril at
premises in the vicinity of the Leased Premises and (iv) not contain any form of a coinsurance
provision or include a waiver of such provision.

     (e) Prohibited Exclusions. The builder’s risk policy shall not contain any (i)
coinsurance provisions, or (ii) exclusion for loss or damage resulting from freezing or mechanical
breakdown.

     (f) Sum Insured. The builder’s risk policy shall (i) be on a completed value form,
with no periodic reporting requirements, (ii) insure 100% of the replacement value of the
Improvements, and (iii) value losses at replacement cost, without deduction for physical
depreciation or obsolescence including custom duties, taxes and fees (if rebuilt or repaired).

     3.7. Bonding

     Landlord and Construction Agent have had the opportunity to review financial statements of the
GC and have each made independent decisions to not require payment and performance bonds for the
GC; provided, that, the GC shall be required pursuant to the terms of the Construction Contract to
maintain a sub-guard insurance program (which program must comply with all applicable North
Carolina insurance laws) with respect to all of its subcontractor, materialmen and other vendors in
form, term and amount reasonably acceptable to Landlord and Construction Agent.

     3.8. Endorsements

     All policies of liability insurance required to be maintained by GC shall be endorsed as
follows:

     (a) With the exception of insurance maintained in accordance with Section 3.4 hereof,
if not already named, to name Construction Agent and Landlord as an additional insured and loss
payee as specified by Construction Agent and Landlord;

     (b) To provide a severability of interests and cross liability clause; and

     (c) That the insurance shall be primary and not excess to or contributing with any insurance
or self-insurance maintained by Landlord, Construction Agent or any other person or entity.

     3.9. Waiver of Subrogation.

     Construction Agent shall cause the GC to waive and shall cause its subcontractors and its or
their insurers to waive any and every claim for recovery from Construction Agent or Landlord for
any and all loss or damage covered by any of the insurance policies to be maintained under this
Agreement to the extent that such loss or damage is recovered under any such policy. Inasmuch as
the foregoing waiver will preclude the assignment of any such claim to the extent of such recovery,
by subrogation (or otherwise), to an insurance company (or other person), GC and

9

 

all contractors and subcontractors shall give written notice of the terms of such waiver to
each insurance company which has issued, or which may issue in the future, any such policy of
insurance (if such notice is required by the insurance policy) and shall cause each such insurance
policy to be properly endorsed by the issuer thereof to, or to otherwise contain one or more
provisions that, prevent the invalidation of the insurance coverage provided thereby by reason of
such waiver.

     3.10. Conditions.

     (a) Loss Notification. GC shall promptly notify Construction Agent and Landlord of
any single loss or event likely to give rise to a claim against an insurer for an amount in excess
of $5,000,000 covered by any insurance maintained pursuant to this Agreement.

     (b) Loss Adjustment and Settlement. A loss under any insurance required to be carried
pursuant to this Agreement shall be adjusted with the insurance companies, including the filing in
a timely manner of appropriate proceedings, by GC, subject to the approval of Construction Agent
and Landlord if such loss is in excess of $5,000,000. In addition Construction Agent may in its
reasonable judgment consent to the settlement of any loss, provided that in the event that the
amount of the loss exceeds $5,000,000 the terms of such settlement is concurred with by Landlord.

     (c) Policy Cancellation and Change. All policies of insurance required to be
maintained pursuant to this Agreement shall be endorsed so that if at any time should they be
canceled, or coverage be reduced (by any party including the insured) which affects the interests
of Construction Agent and Landlord, if applicable, such cancellation or reduction shall not be
effective as to such parties for 30 days, except for non-payment of premium which shall be for 10
days, after receipt by Construction Agent and Landlord of written notice from such insurer of such
cancellation or reduction. Any party required to carry insurance pursuant to this Agreement must
obtain insurance coverage, within 15 days of such notice to Construction Agent and Landlord of the
insurance reduction or cancellation which is equal to the amount of insurance coverage which that
party carried prior to the cancellation or reduction. Each policy shall also provide evidence of
such insurance to Construction Agent and Landlord on an ACORD 28 form or equivalent; provided, that
in the event that such form is no longer available, such evidence of insurance is in a form
reasonably satisfactory to Construction Agent and Landlord.

     (d) Miscellaneous Policy Provisions. All policies of insurance required to be
maintained pursuant to this Agreement shall (i) not include any annual or term aggregate limits of
liability except as regards the insurance applicable to the perils of flood and earth movement and
pollutant clean up of land and water at the Leased Premises (project site), (ii) with the exception
of insurance maintained in accordance with Section 3.4 hereof, shall include Construction
Agent and Landlord as either a loss payee or an additional insured, as applicable and as their
respective interest may appear, and (iii) include a clause requiring the insurer to make final
payment on any claim within 30 days after the submission of proof of loss and its acceptance by the
insurer.

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     (e) Separation of Interests. All policies (other than in respect to liability or
workers compensation insurance) shall insure the interests of Construction Agent and Landlord
regardless of any breach or violation by GC or any other party of warranties, declarations or
conditions contained in such policies, any action or inaction of GC or any subcontractors.

     (f) Acceptable Policy Terms and Conditions. All policies of insurance required to be
maintained pursuant to this Agreement shall contain terms and conditions reasonably acceptable to
Construction Agent and Landlord.

     (g) Waiver of Subrogation. All policies of insurance to be maintained by the
provisions of this Agreement shall provide for waivers of subrogation in favor of Construction
Agent and Landlord.

     (h) No Duty of Agent to Verify or Review. No provision of this Agreement shall impose
on Landlord any duty or obligation to verify the existence or adequacy of the insurance coverage
maintained by GC, nor shall Landlord be responsible for any representations or warranties made by
or on behalf of GC to any insurance company or underwriter. Any failure on the part of
Construction Agent and Landlord to pursue or obtain the evidence of insurance required by this
Agreement from GC and/or failure of Construction Agent or Landlord to point out any non-compliance
of such evidence of insurance shall not constitute a waiver of any of the insurance requirements in
this Agreement.

     3.11. Insurance Premiums and Deductibles.

     Subject to the prior approval of Landlord prior to any payment by Construction Agent,
Construction Agent shall be permitted to submit requisitions for reimbursement from the Escrow
Funds of all amounts expended by Construction Agent or General Contractor for insurance premiums
and deductibles for the insurance policies required pursuant to this Agreement. Landlord shall
deliver written authorization to Escrow Agent to disburse all such amounts to Construction Agent
within ten (10) days of Landlord’s receipt of such requisition and supporting documentation.

     3.12. Contractors’ Equipment Insurance.

     Construction Agent shall cause GC to maintain and GC shall ensure that all subcontractors
maintain all risks contractors’ equipment insurance covering construction machinery and equipment
owned and/or leased by the GC and used for the performance of the Work.

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ARTICLE IV

THE CONSTRUCTION

     4.1. Construction.

     Construction Agent shall use commercially reasonably efforts to cause the Work to be completed
in compliance with the Plans and Specifications, the Operative Documents, all Legal Requirements
and all Insurance Requirements, and Construction Agent shall use reasonable commercial efforts to
enforce all warranties and guaranties of the Work.

     4.2. Amendments; Modifications.

     Construction Agent may at any time revise, amend or modify the Plans and Specifications or the
Budget without the consent of Landlord; provided, that any such amendment or modification
to the Plans and Specifications or the Budget: (i) does not result in the delay of the Outside
Completion Date, and (ii) is not otherwise a Material Modification of the Work as described in the
Plans and Specifications.

     4.3. Payment of Construction Costs.

     (a) Prior to commencement of construction, the Construction Agent, Landlord, GLF and a
mutually acceptable escrow agent shall enter into a Construction Escrow Agreement in substantially
the form set forth on Exhibit C attached hereto and incorporated herein (the “Escrow
Agreement”) pursuant to which GLF shall deposit, at Landlord’s direction, with the Escrow Agent
(as defined in the Escrow Agreement) the entire amount of the Construction Allowance (the
“Escrow Funds”). The Escrow Funds shall be disbursed by the Escrow Agent in accordance
with the Escrow Agreement to pay the costs of the Work as provided in the Budget, until all of the
Escrow Funds have been disbursed. Thereafter, Construction Agent shall pay for any costs of the
Work that are Additional Costs. Landlord shall have no obligation to pay for any costs or expenses
that exceed the Construction Allowance. As used herein, “Additional Costs” shall mean (i) any
amount in excess of the Construction Allowance that Construction Agent determines during the
prosecution of the Work is necessary to complete the Work and (ii) any amount paid or cost incurred
by Spirit in connection with the acquisition and installation of the fixtures listed on Exhibit
“E” to this Agreement. In the event either party receives notice of a potential Additional
Cost, such party shall send the other notice thereof setting forth the amount of such Additional
Cost, such notice to be given in the manner provided for in Paragraph 21 of the Lease. All
Additional Costs shall be considered eligible “Capital Improvements” as contemplated by the
Inducement Agreement.

     (b) In the event requested by the Construction Agent, Landlord agrees to (i) issue requested
purchase orders directly to first-tier subcontractors of the GC and (ii) thereafter pursue
applicable statutory sales tax refunds. Upon receipt of any such refunds, Landlord will deposit
all such refunds with the Escrow Agent to be held and delivered as Escrow Funds. All invoices
resulting from such purchase orders will be paid with an Advance as provided in Article V.

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     4.4. Completion Date.

     The Work shall be deemed substantially complete at such time as either a temporary or
permanent certificate of occupancy has been issued for the Leased Premises (the “Completion
Date”). Within one hundred one-hundred twenty (120) days after the Completion Date,
Construction Agent shall deliver to Landlord, (i) a copy of the final, unconditional certificate of
occupancy for the Improvements (the “Final C/O”), which shall evidence Tenant’s right to
occupy the Improvements and allow Tenant to operate the business prescribed in the Lease, (ii)
originals or true and complete photocopies of all other final and unconditional certificates of
occupancy, governmental licenses, regulatory approvals, permits, consents, certificates of
compliance with zoning and other land use (if required), health and safety and/or other
requirements that are applicable and/or required in connection with the construction, use and/or
occupation of the Leased Premises (collectively, the “Other Permits” and, together with the
Final C/O, the “Final Permits”), (iii) all final lien waivers from all contractors and
subcontractors, and copies of all warranties and guaranties, (iv) an as-built survey reasonably
acceptable to Landlord (hard copy as well as on a cd with Auto-Cad software), (v) if requested by
Landlord, a date-down endorsement to Landlord’s title insurance policy acceptable in form and
substance to Landlord, and (vi) written certifications from the GC stating that the Improvements
have been completed in substantial accordance with the Plans and Specifications. In the event on
the Completion Date (x) the Final C/O has not been issued, (y) any other Final Permits have not
been issued, and/or (z) any punchlist items remain uncompleted or uncorrected, Construction Agent
shall, and shall cause the GC to, diligently prosecute completion of all Work necessary to obtain
all Final Permits and shall obtain all Final Permits and complete and correct all punchlist items
as soon as possible after the Completion Date and in any event prior to the earlier of (i) the
Outside Completion Date or (ii) such earlier date as may be required in order to comply with any
applicable Legal Requirements. The requirement to deliver all items to Landlord and complete and
correct all punchlist items and other work pursuant to this Section 4.4 shall survive the
expiration of this Agreement and be deemed an obligation of Tenant under the Lease.

     4.5. Final Plans and Specifications.

     As soon as is reasonably practicable after completion of the Improvements, Construction Agent
shall furnish Landlord with two (2) full sets of the final construction plans and specifications
for the Improvements (together with a statement from the GC of material changes, if any, from the
Plans and Specifications). The approval by Landlord of the Plans and Specifications and/or the
final construction plans and specifications for the Improvements or any other action taken by
Landlord with respect thereto under the provisions of this Lease shall not constitute an opinion or
representation by Landlord as to the sufficiency of such plans and specifications nor impose any
present or future liability or responsibility upon Landlord. The requirement to deliver the final
construction plans and specifications to Landlord shall survive the expiration of this Agreement
and be deemed an obligation of Tenant under the Lease.

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     4.6. Escrow Agent Fees.

     All Escrow Agent fees payable pursuant to the Escrow Agreement shall be payable as part of the
Budget annually and in advance.

ARTICLE V

PAYMENT OF FUNDS

     5.1. Release of Construction Allowance.

     Provided that Construction Agent has complied with Section 5.2 of this Agreement,
Landlord shall provide instruction to the Escrow Agent for the release of the Escrow Funds as
hereinafter provided in this Agreement.

     5.2. Applications for Advances.

     Construction Agent shall make applications for Advances from the Escrow Funds (each, an
“Application for Payment”) for the Work performed by the GC and any other contractors,
subcontractors or materialmen (collectively, the “Vendors”) engaged by Construction Agent,
acting as agent for the benefit of Landlord or Construction Agent, on a basis to be agreed between
the GC and the Construction Agent in the Construction Agreement, subject to a ten percent (10%)
retainage as provided in the Construction Agreement and other applicable Work Agreements.
Construction Agent shall provide the following, in form and substance reasonably acceptable to
Landlord and the Construction Consultant, twenty (20) days prior to the date requested by
Construction Agent for approval of each disbursement by the Escrow Agent of each progress payment
(“Advance”) to the Vendors, which Advance request shall be in the form attached hereto as
Exhibit “D” and shall be provided to Landlord on the same date as the following submittals:

     (a) A certificate of Construction Agent certifying (i) that all construction prior to the date
of such draw request has been done substantially in accordance with the Plans and Specifications;
and (ii) the amount requested will be utilized for the Work;

     (b) Copies of all bills or statements for expenses for which the disbursement is requested,
initialed and approved by Construction Agent, including the application for payment from the GC,
made by the GC in accordance with the requirements and schedule under the Construction Agreement;

     (c) Partial and/or final mechanics’ lien waivers, as applicable, for all amounts previously
paid to the GC, or any other Vendors, including any subcontractors and suppliers of the GC; and

     (d) A Disbursement Authorization to be executed and delivered to Escrow Agent for release and
disbursement of the Advance from the Escrow Funds, in substantially the form set forth as Exhibit A
to the Escrow Agreement (the “Disbursement Authorization”).

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     5.3. Payment of Vendors.

     Within twenty (20) days of the receipt of an Application for Payment and all submittals
specified in Section 5.2, all in the form and substance as required hereunder and under the
other Operative Documents and to the extent of available Escrow Funds, Landlord shall execute and
deliver to the Escrow Agent the Disbursement Authorization.

     5.4. Procedures for Applications for Payment.

     Construction Agent shall periodically submit Applications for Payment for costs incurred by
Landlord in connection with the Work in accordance with the Budget, including but not limited to,
expenses associated with insurance required under this Agreement. No more than one Application for
Payment shall be submitted each month for disbursements of the Escrow Funds under the Escrow
Agreement.

     5.5. Construction Dispute Resolution.

     (a) In the event Landlord or the Construction Consultant fails to approve the Application for
Payment, Landlord, within twenty (20) days following receipt of such Application for Payment, shall
provide written notice to Construction Agent, specifying in reasonable detail Landlord’s reason(s)
for rejection of all or any portion of the requested Advance. Upon receipt of such notice,
Construction Agent shall have five (5) business days to either (x) accept the recommendation of
Landlord and the Construction Consultant or (y) provide Landlord with a written request for the
matter to be resolved by the Construction Consultant and Construction Agent’s construction
inspector. In the event Construction Agent gives Landlord notice pursuant to clause (y) above,
such disagreement shall be referred to the Construction Consultant and Construction Agent’s
construction inspector within five (5) business days after Landlord’s receipt of such notice for
resolution by the Construction Consultant and such construction inspector. In the event that the
Construction Consultant and Construction Agent’s construction inspector are unable to resolve the
matter within five (5) business days after both have received written notice of such disagreement,
the matter shall be referred to a third party construction consultant acceptable to Landlord and
Construction Agent, and the decision of such third party consultant shall be binding on Landlord
and Construction Agent absent manifest error. Pending resolution of any such dispute, the portion
of any Advance requested by Construction Agent that is not in dispute will be authorized by
Landlord and Construction Agent for payment by Escrow Agent in accordance with the provisions of
this Article V. Upon resolution of any such dispute, the portion of any requested Advance which
was in dispute or the agreed upon portion thereof, as appropriate, Landlord and Construction Agent
shall authorize the Escrow Agent to make such payment from the Escrow Funds in accordance with the
provisions of this Article V.

     (b) Upon resolution of any dispute pursuant to subparagraph (a) above, if it is determined
that there was no reasonable basis for Landlord to withhold approval of the disbursement of any
portion of an Advance requested by Construction Agent and that the

15

 

withholding of such approval caused an actual delay in the construction of the Work, the
Outside Completion Date shall automatically be extended for the period of any such delay.

ARTICLE VI

CONSTRUCTION PERIOD EVENTS OF DEFAULT

     6.1. Construction Period Events of Default.

     If any one (1) or more of the following events (each a “Construction Period Event of
Default”) shall occur:

     (a) subject to Section 7.1, the Completion Date does not occur on or before the
Construction Deadline;

     (b) subject to Section 7.1, Construction Agent fails to complete the Work by the
Outside Completion Date;

     (c) any Event of Default shall have occurred under the Lease and not be cured within any cure
period expressly permitted under the terms of the Lease; and

     (d) subject to Section 7.1, Construction Agent shall fail to observe or perform any
term, covenant or condition of this Agreement or the Work Agreements in any material respect and
such failure to observe or perform any such term, covenant or condition shall continue uncured for
more than sixty (60) days after Construction Agent has received written notice thereof (or such
longer period as is necessary to effect a cure if Construction Agent is diligently pursuing such
cure during such extended period);

then, in any such event, Landlord may, as its sole and exclusive remedy, all other rights and
remedies being hereby released and waived, terminate this Agreement by giving Construction Agent
written notice of such termination (and upon the expiration of the time fixed in such notice, this
Agreement shall terminate) and demand payment of the Liquidated Damages Amount as contemplated by
the Inducement Agreement. In the event Landlord terminates this Agreement and the Lease upon the
occurrence of a Construction Period Event of Default, the parties acknowledge that it would be
extremely difficult to determine precisely the amount of actual damage that would be suffered by
Landlord due to such Event of Default but that the Liquidated Damages Amount is a fair and
reasonable determination of the amount of actual damages that would be suffered by Landlord for
such event of default and that these liquidated damages do not constitute a penalty. The remedies
set forth in this Section 6.1 are the sole and exclusive remedy of the Landlord for a Construction
Period Event of Default (other than Landlord’s rights under the indemnities contained in the Lease
which, by the express terms thereof, are to survive the termination of the Lease).

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     6.2. Actions on Termination.

     In the event Landlord terminates this Agreement as provided in Section 6.1,
Construction Agent shall, (i) surrender and return the Leased Premises to Landlord, (ii) take such
action as Landlord may reasonably request in order to transfer, assign and deliver to Landlord (or
its designee) all of Construction Agent’s and Tenant’s rights and claims in and to all construction
contracts, architect contracts, plans and specifications, warranties, guaranties, bonds, permits,
entitlements and other rights and agreements with respect to the Improvements and/or the
construction thereof, including, without limitation, all Work Agreements, and (iii) instruct Escrow
Agent in writing to disburse any remaining Escrow Funds to Landlord.

ARTICLE VII

CONSTRUCTION FORCE MAJEURE EVENTS

     7.1. Construction Force Majeure Events.

     (a) If a Construction Force Majeure Event prevents, or could reasonably be expected to
prevent, Construction Agent from completing the Improvements prior to the Outside Completion Date,
Construction Agent shall promptly provide Landlord with written notice thereof within fifteen (15)
days of Construction Agent’s knowledge of the occurrence thereof (the “Construction Force
Majeure Declaration”). Upon receipt of the Construction Force Majeure Declaration, Landlord
and Construction Agent shall consult with each other as to what steps, if any, are to be taken to
remediate such Construction Force Majeure Event, including consulting as to the appropriateness of
an extension of the Outside Completion Date to the extent reasonably necessary to address such
Construction Force Majeure Event. Construction Agent shall take all commercially reasonable and
lawful measures in its role as Construction Agent necessary to minimize the disruption of the
construction process and to prevent further damage arising from such Construction Force Majeure
Event. Construction Agent shall be entitled to reimbursement for any costs directly related to
minimizing the disruption and to preventing further damage of such Construction Force Majeure
Event, and Landlord shall authorize Escrow Agent to fund such reimbursement from the Escrow Funds.
Construction Agent shall, within twenty (20) days of the delivery of the Construction Force Majeure
Declaration, submit to Landlord a budget detailing the costs that would be incurred in remediating
such Construction Force Majeure Event and a schedule for effecting the same. Landlord may object
to the Construction Agent’s remediation plan only for the reasons Landlord could object to the
Plans and Specification as set forth in Section 2.2. Construction Agent will commence such
remediation upon Landlord’s approval of the remediation plan.

     (b) When Landlord authorizes Construction Agent’s remediation plan, Landlord shall make
available to Construction Agent the Net Award or Net Proceeds payable to Landlord with respect to
such event to the extent necessary to remediate such event upon presentation of evidence reasonably
satisfactory to Landlord and the Construction Consultant that the work contemplated by the
remediation plan has been performed.

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     (c) The Outside Completion Date and the Basic Rent Commencement Date shall be automatically
extended until such date that the Improvements are completed in accordance with the Plans and
Specifications (as modified by, as necessary, to implement the remediation plan).

ARTICLE VIII

MISCELLANEOUS

     8.1. Notices.

     All notices required or permitted to be given under this Agreement shall be in writing and
delivered as provided in Paragraph 21 of the Lease.

     8.2. Successors and Assigns.

     This Agreement shall be binding upon and inure to the benefit of Landlord, Construction Agent
and the respective successors and the permitted assigns of either party. Construction Agent may
not assign this Agreement or any of its rights or obligations hereunder or with respect to the
Leased Premises in whole or in part to any Person other than an Affiliate, without the prior
written consent of Landlord.

     8.3. GOVERNING LAW.

     THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE
GOVERNED BY, AND CONSTRUED, INTERPRETED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE
STATE WHERE THE LEASED PREMISES ARE LOCATED (WITHOUT GIVING EFFECT TO THE PRINCIPLES THEREOF
RELATING TO CONFLICTS OF LAW).

     8.4. Remedies of Construction Agent.

     In the event of any breach by Landlord of the terms hereof, Construction Agent shall have all
rights and remedies afforded it at law or equity; provided, however, that any such claim is
expressly limited to the amount of undisbursed Escrow Funds, and Landlord shall not have any
responsibility or liability for any punitive, incidental or consequential damages (including strict
liability in tort) related to such breach.

     8.5. Amendments and Waivers.

     This Agreement may not be terminated, amended, supplemented, waived or modified except in
accordance with the provisions of Paragraph 35(d) of the Lease.

     8.6. Counterparts.

     This Agreement may be executed in any number of separate counterparts and all of said
counterparts taken together shall be deemed to constitute one (1) and the same instrument.

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     8.7. Severability.

     Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction.

     8.8. Headings and Table of Contents.

     The headings and table of contents contained in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

     8.9. Approvals By Landlord.

     Any approval by Landlord of or consent by Landlord to any plans, specifications or other items
to be submitted to and/or reviewed by Landlord pursuant to this Agreement shall be deemed to be
strictly limited to an acknowledgment of approval or consent by Landlord thereto and such approval
or consent shall not constitute the assumption by Landlord of any responsibility for the accuracy,
sufficiency or feasibility of any plans, specifications or other such items and shall not imply any
acknowledgment, representation, warranty or covenant by Landlord that the design is safe, feasible,
structurally sound or will comply with any legal or governmental requirements, and the GC shall be
responsible for all of the same.

     8.10. Termination of Agreement.

     Upon any return of the Leased Premises to Landlord pursuant to the terms of this Agreement, in
addition to all other obligations of Construction Agent provided for or contemplated herein,
Construction Agent shall take such action as Landlord may reasonably request in order to transfer,
assign and deliver to Landlord (or its designee) all of Construction Agent’s and Tenant’s rights
and claims in and to all Work Agreements and all plans and specifications, warranties, guaranties,
bonds, permits, entitlements and other rights and agreements with respect to the Improvements
and/or the construction thereof (collectively, “Contracts”).

     8.11. Additional Definitions.

     “Construction Force Majeure Event” means, with respect to the Leased Premises:

     (A) a flood, earthquake, hurricane, cyclone, tornado or other act of God
arising during the Construction Period; or

     (B) any change in any state or local law, regulation or other legal requirement
arising during the Construction Period and relating to the use of the Site or the
construction of the Improvements; or

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     (C) strikes, lockouts, labor troubles, unavailability of materials (including
delays in delivery), riots, civil unrest or insurrections or other similar causes
beyond Construction Agent’s control that occur during the Construction Period; or

     (D) the occurrence of a casualty loss or Taking during the Construction Period;
or

     (E) any other event not caused by or the result of any act(s) or omissions
either directly or indirectly, and is beyond the control of, Construction Agent,
which causes damage to the Leased Premises or which prevents Construction Agent from
completing the Improvements prior to the Outside Completion Date and which could not
have been avoided or which cannot be remedied by Construction Agent through the
exercise of commercially reasonable efforts, including, without limitations, acts of
Landlord and the GC.

     “Liquidated Damages Amount” shall have the meaning assigned to that term in the
Inducement Agreement.

     “Material Modification” means any revision, amendment or modification that (i) is
reasonably likely to result in (w) completion of any of the Work after the Outside Completion Date,
(x) a violation of applicable State law, (y) a violation of any County Agreement or the GLF Grant
Agreement or (z) any material adverse change in the fair market value, utility or useful life of
the Landlord Alterations, or (ii) is reasonably likely to have a material adverse effect on the
ability of the Construction Agent to perform its collective obligations under, or the validity and
enforceability of the Operative Documents.

[Signature page follows.]

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     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered by their proper and duly authorized officers as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	Spirit AeroSystems, Inc.,

as Construction Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	The North Carolina Global TransPark

Authority, as Landlord	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

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	SPIRIT ALPHA
	 	May 12, 2008

EXHIBIT “A”

INITIAL PLANS AND SPECIFICATIONS

SUMMARY — SCOPE OF WORK

The work shall be as stated in the Contract Documents of the request for proposal for the Spirit
AeroSystems, ALPHA project.

The scope of work shall include but not be limited to:

	 	*	 	Design/Construct building and site development meeting LEED Silver Certification
	 
	 	*	 	Provisions for customer provided Enhanced Commissioning — LEED Certification
	 
	 	*	 	Architectural renderings
	 
	 	*	 	Partial design releases for fast track design/build construction
	 
	 	*	 	Final construction documents
	 
	 	*	 	Shop drawing submittals
	 
	 	*	 	Construction
	 
	 	*	 	Testing and Reports
	 
	 	*	 	As-built drawings and O&M Manuals

The site shall provided with all infrastructure support for the people and processes required for
the program. The building shall be of a size, height and configuration to meet manufacturing needs
for the program requirements. It is expected that the design/build firm will specify materials and
systems which are locally supported by trades and suppliers. The requirements for design,
materials and construction that is illustrated will not be inclusive for all elements required for
completion of the project. Drawing layout attachments are provided to graphically illustrate the
physical space required, physical relationships, and anticipated location on property. Specific
project requirements will be established as a separate document.

A. DESIGN

	1.	 	Completion of all discipline’s (architectural, civil, structural, mechanical, electrical,
fire protection) construction documents including drawings and specifications shall be
supervised and sealed by licensed Architects/Engineers (A/E). Documents shall include but not
be limited to structural calculations, surveys, construction plans/details and material
specifications.
	 
	2.	 	The Design/Build Contractor is encouraged to propose, at any time, innovations which may
result in early occupancy or lower; construction, operations, and maintenance costs.
Particular emphasis shall be placed on green strategies for

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	SPIRIT ALPHA
	 	May 12, 2008

	 	 	our intent to LEED Certify for New Construction. Such strategies shall be submitted, in
writing, to Spirit AeroSystems for consideration and approval prior to proceeding.
	 
	3.	 	The Design/Build Contractor shall resolve any conflicts involving design with local, state
and federal jurisdictions in obtaining all required permits and certificates of occupancy.
Any changes in design shall be submitted to Spirit AeroSystems in writing for our written
approval.
	 
	4.	 	The Design/Build Contractor shall be responsible for any additional required information for:

	 	a.	 	Soils testing as required for the foundation design, from an independent
testing laboratory.
	 
	 	b.	 	Surveys for topographical information.
	 
	 	c.	 	Site inspection for utility location verification.
	 
	 	d.	 	Construction testing program.
	 
	 	e.	 	Training for building equipment and systems.

	 	 	Spirit Aerosystems shall receive five (5) copies of all tests results and audiovisual
recordings made for training.
	 
	5.	 	Submission of design development drawings for Spirit AeroSystems review and approval for each
discipline with meetings at 30%, 60%, 90%, 100%. All revisions, comments and required
information shall be resolved for incorporation into the drawings and/or specifications prior
to the next review meeting. Final post 100% submittal for construction shall be complete with
all comment incorporations.
	 
	6.	 	Color presentation renderings depicting multiple aerial views will be required for the 30%
and 60% and 100% design review periods.

B. 
CONSTRUCTION

	1.	 	Vendor certified shop drawings (SD) and data sheets shall be provided for all materials,
assemblies and equipment. Contractor approval and Spirit review is required before start of
fabrication. They shall provide all pertinent data and information necessary to evaluate each
item. Irrelevant information on drawings and data sheets shall be completely marked out,
leaving only data that pertains to the items submitted for Spirit review. Contractor approved
submittals shall include six (6) hard copies and one
(1) reproducible (if larger
than 11” x
17”)
	 
	2.	 	Before shop drawings or brochures are submitted for Spirit review, the contractor shall
certify that each separate drawing or each item of equipment complies with the specifications
and will fit the physical operational/maintenance clearances for the area. Certification may
be in the form of a stamp which states:

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	SPIRIT ALPHA
	 	May 12, 2008

“This shop drawing has been checked prior to submittal and complies in all respects, except
as noted, with requirements of the plans, specifications, and physical space limitations of
the area.”

Other Certifications/Reports from a testing laboratory shall be provided to the Spirit
representative for the following:

	 	a.	 	Mill analysis, tensile and bending tests for reinforcing steel in concrete.
	 
	 	b.	 	Concrete compressive tests for every 50 cubic yards.

	 	*	 	Beam tests for concrete flatwork.
	 
	 	*	 	Cylinder method for foundations.

	 	c.	 	Masonry units meet required ACI Standards.
	 
	 	d.	 	Wood preservative treatment
	 
	 	e.	 	Finish materials requiring a Flame spread rating of 25 or less.
	 
	 	f.	 	Insulation ‘U’ values and permability values for vapor transmission.
	 
	 	g.	 	Roofing membrane conformance to manufacturers claims for strength and
thickness.
	 
	 	h.	 	Skylight impact resistance and UV resistance to color change
	 
	 	i.	 	Sealants and caulking for conformance to manufacturers requirements and
application.
	 
	 	j.	 	Glazing for strength, fire assembly rating, safety glazing, etc.
	 
	 	k.	 	Sound rated door assemblies for conformance to door manufacturer’s stated
properties.

	3.	 	Control shop drawings shall be submitted as hardware and exact electrical conditions become
known. The documents initial release of the 500 series control drawings shall be identified as
preliminary. The documents shall be revised by the vendor at the shop drawing review and
reissued by the A/E. This process is repeated after all hardware arrives and electrical
connections are verified.

C. PROJECT CLOSEOUT SUBMITTALS

Project closeout submittal information shall include but not be limited to the following:

Spare Parts List

Installation Manual

Operations/Maintenance Manual

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	SPIRIT ALPHA
	 	May 12, 2008

Systems Manual

Trouble Shooting

As-Built Engineering Drawings

Wiring Diagrams

Manufactures Contacts Directory

Warranties

Test Reports

Certifications

Training Videos

	1.	 	Record drawings (redlines) shall be one complete set of prints kept at the job site showing
all approved field changes and deviations from the contract drawings and specifications as
they occur. This record must be accurate, complete with sufficient detail to be intelligible.
	 
	 	 	A complete set of “As-built” (AB) drawings shall be provided by the design build firm’s A/E
firm within 30 working days of project completion. As-builts shall be based on the record
set of drawings and revisions made by approved shop drawing submittals and field/change
orders. All revisions shall receive a mark w/ description in title block. Drafting
standards of the original drawings shall be maintained for delivery to Spirit. Completed
submittal to Spirit shall consist of one (1) hard copy, one (1) full size mylar reproducible
copy and one CDROM copy meeting the Spirit CAD requirements.
	 
	2.	 	Validation of performance from manufacturers representative shall be provided to the Spirit
representative for acceptance of installation:

	 	a.	 	Drop or operational tests for fire rated doors.
	 
	 	b.	 	Motorized door operation including but not limited to controls, speed, and
safety features.
	 
	 	c.	 	Elevator operation including but not limited to controls, speed, and safety
features.
	 
	 	d.	 	Pedestrian door hardware.
	 
	 	e.	 	Roofing (uplift and mil thickness)
	 
	 	f.	 	Secondary containment coating systems
	 
	 	g.	 	Waterproofing
	 
	 	h.	 	Access flooring

A - 4

 

			
	 	 	 
	SPIRIT ALPHA
	 	May 12, 2008

	 	i.	 	Operable partitions
	 
	 	j.	 	Fire suppression systems
	 
	 	k.	 	Access flooring

	3.	 	Certifications/Reports from a testing laboratory shall be provided to the Spirit
representative for the following:

	 	a.	 	Lighting level conformance
	 
	 	b.	 	Motor full load amperes and housepower, efficiency and power factor.
	 
	 	c.	 	Electrical — Starter line to line voltage on all phases.
	 
	 	d.	 	Completion of Electrical UL Master Label and LPI Systems Certification Forms
175A and 175B.
	 
	 	e.	 	Test Electrical Cables (megger test)
	 
	 	f.	 	Balancing of hydraulics
	 
	 	g.	 	Water balancing
	 
	 	h.	 	Water analysis
	 
	 	i.	 	Balancing of air flow
	 
	 	j.	 	Exhaust conformance to specification for fumes/smoke

	 	 	Additional tests shall be provided at no additional costs to Spirit for re-testing after
necessary adjustments to an installation. This will provide maintenance operational
baselines.
	 
	4.	 	Four (4) copies of completed manuals for “Operation and Maintenance” along with Systems
Manuals shall be provided to Spirit thirty (30) days before project completion for
“Instructional Period for Spirit Personnel”. Each manual shall be identified by project
description, project number(s). The manuals shall include:

	 	a.	 	Manufacturers certified technical product data including rated capacities,
pressure drops, operative parameters, material specifications, weights (shipping,
installed, & operative), and dimensioned drawings.
	 
	 	b.	 	Shop drawings shall indicate asemblies including dimensions, weight loadings,
required clearances, wiring diagrams and methods of assembly of components. The
following electrical items shall be included as a minimum:

	 	 	 	 	 	 	 
	 

	 	Transformers
	 	5KV switchgear
	 	15KV switchgear
	 

	 	Motor Control Centers
	 	Distribution Panels
	 	Branch Circuit Panels
	 

	 	Disconnects
	 	Starters
	 	Light Fixtures
	 

	 	Fire Alarm System
	 	P.A. System
	 	Lighting Control System
	 

	 	Lightning Protection System	 	 	 	 

A - 5

 

			
	 	 	 
	SPIRIT ALPHA
	 	May 12, 2008

	 	 	 	Wiring diagrams shall indicate power supply wiring and ladder type diagrams for
interlock and control wiring. Field installed and factory wiring shall be clearly
differentiated.
	 
	 	c.	 	Maintenance data shall include operating and maintenance instructions for each
piece of mechanical equipment. Include spare parts list for each unit, control, and
accessory. Include anticipated man-hour labor maintenance requirements.
	 
	 	d.	 	Equipment shall be identified as to location by general narative or column I.D.

Indicate in technical specifications the following: “Instructional Period for Spirit
Personnel”: Prior to final acceptance of the mechanical systems, an instructional period
shall be provided for the Spirit personnel. Items to be covered and responsibilities are as
follows:

	 	•	 	Demonstration of operation of each piece of equipment by Contractor.
	 
	 	•	 	Maintenance procedures for each piece of mechanical equipment by the Contractor
and/or manufacturer.
	 
	 	•	 	Operation and maintenance of entire temperature control system by Controls
Subcontractor.

	 	 	Spirit representative to coordinate training with Spirit zone maintenance supervisor.
	 
	5.	 	Manufacturer warranty/guarantees shall be provided by the Contractor within thirty (30) days
of project completion and/or installed product acceptance for any products warranted longer
than the general construction guarantee. They shall include but not be limited to the
following:

	 	a.	 	Roofing
	 
	 	b.	 	Door Equipment
	 
	 	c.	 	Mechanical Equipment
	 
	 	d.	 	Electronic Equipment
	 
	 	e.	 	Coatings/Paint

	 	 	Warranty/guarantees and service agreements shall clearly stated exclusions and start/end
dates.
	 
	6.	 	Non-standard tools required in the normal maintenance, adjustment and operation of the
equipment shall be provided to Spirit by the Contractor at project completion.

D. ALTERNATES

A - 6

 

			
	 	 	 
	SPIRIT ALPHA
	 	May 12, 2008

None at this time.

E. ALLOWANCES

	1.	 	Landscaping — $50,000 including all plantings.

F. SPECIAL PROJECT REQUIREMENTS

	1.	 	Full coverage underhung 35’H hook height crane bridges.

END

A - 7

 

			
	 	 	 
	SPIRIT ALPHA
	 	May 12, 2008

A - 8

 

EXHIBIT “B”

COUNTY AGREEMENTS

     1. Agreement dated April 6, 2006 by and between Lenior County, North Carolina and the GTPA.

     2. Agreement for Fire Protection Services dated September, 2007, by and between the City of
Kinston and the GTPA.

     3. Airport Joint Use Agreement between Lenoir County/City of Kinston Airport Commission,
Lenoir County, City of Kinston, the GTPA and the Air Force Reserve.

B - 1

 

EXHIBIT “C”

FORM ESCROW AGREEMENT

C - 1

 

EXHIBIT “D”

FORM OF APPLICATION FOR PAYMENT

North Carolina Global TransPark Authority

	 	 
	 

	 

	 

	 

	 

							
	 

	, 	North Carolina	 	 	 	 
	 

	 	 	 	 

	 	 

		
	Attention:

	 

	 

	Date:

	 

	 

	Project:

	 

REQUEST FOR AN ADVANCE

     This Request For An Advance (this “Request”) is made under that certain Construction
Agency Agreement, dated as                     , 200_, by and between Spirit AeroSystems, Inc., as
Construction Agent (the “Construction Agent”), and Global TransPark Authority, as Landlord
(the “Landlord”)

     The total amount of the costs incurred in connection with the Work for which an Advance from
the Construction Allowance is hereby requested is specified below as the “Total Amount of Requested
Advance.” The Construction Agent hereby requests that Landlord execute and deliver the enclosed
Disbursement Authorization to Escrow Agent on the date as specified below as the “Requested Date
for Approval” at least twenty (20) days after the date of receipt of this Request.

     The costs incurred in connection with the Work that are included within this Request are
listed below and are attached to this Request:

							
	 	 	 	 	 	 	 
	VENDOR (Scope)
	 	DRAW/INVOICE NO.
	 	DATE
	 	AMOUNT

 

 

 

Total Amount of Requested Approval 
     $                    

D - 1

 

     Requested Date for Advance (i.e. 20 days after receipt by Landlord) 
                              

D - 2

 

     The Construction Agent, pursuant to Section 5.2 of the Construction Agency Agreement,
submits this Request and certifies the following (all capitalized terms used in this Request but
not defined herein shall have the meanings given to such terms in the Construction Agency
Agreement):

     1. All conditions precedent to the requested Advance contained in the Construction Agency
Agreement have been satisfied.

     2. The proceeds of the Advance requested herein shall be used solely to pay costs incurred in
connection with the Work.

     3. No part of the costs incurred in connection with the Work paid with the funds advanced
under any previous Request for an Advance is a basis for this Request.

     4. Attached to this Request is a copy of AIA Application for Payment Form that the
Construction Agent received from the GC for the portion of Work for which the Construction Agent is
seeking payment pursuant to this Request. If no AIA Application for Payment Form is attached, then
either no costs were incurred on the part of the GC since the last the date of the last Request For
An Advance, or the GC did not submit for payment in a timely manner.

     5. Construction of all Improvements to date has been performed in a good and workmanlike
manner and in accordance with the requirements set forth in the Construction Agency Agreement.

     6. The Disbursement Authorization attached hereto sets for the name, address and wire
instructions for the disbursement of the requested Advance, and the Landlord is hereby requested to
execute and deliver the Disbursement Authorization to the Escrow Agent on or before the date set
forth above.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	Spirit AeroSystems, Inc., in its capacity

as Construction Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

D - 3

 

EXHIBIT “E”

	 	•	 	Overhead Cranes
	 
	 	•	 	Overhead Specialized Material Handling Equipment
	 
	 	•	 	Autoclave
	 
	 	•	 	Cold Storage Facility
	 
	 	•	 	Nitrogen Generation and Storage Equipment

E - 1exv10w1

Exhibit 10.1

LEASE DEED

THIS LEASE DEED (‘Lease Deed’) is made at Chennai on this 21st day of
2008.

BY AND BETWEEN

DLF Assets Private Limited, a company incorporated under the Companies Act, 1956 and having its
registered office at 1-E, Jhandewalan Extension, Naaz Cinema Complex, New Delhi 110 055
(hereinafter referred to as “THE LESSOR” which expression shall, unless it be repugnant to the
context or meaning thereof, be deemed to mean and include its successors and assigns) acting
through its signatory, Mr. A.C. Sachdev vide Board Resolution dated 02.05.2007 of the First
Part.

AND

M/s Virtusa Software Services Private Limited, a company incorporated under the Companies Act,
1956 and presently having its office in India at 6-3-1192, 3rd Floor, My Home Tycoon, Begumpet,
Hyderabad 500 016 (hereinafter referred to as “THE LESSEE” which expression shall, unless it
be repugnant to the context or meaning thereof, be deemed to mean and include M/s Virtusa
Software Services Private Limited and its successors and assigns) acting through its authorized
signatory Mr. Sumit Chatterjee vide Board Resolution dated 28.03.2008 of the Other Part

(Both THE LESSOR and THE LESSEE are collectively referred to as “the Parties”)

1

 

	A.	 	WHEREAS DLF Info City Developers (Chennai) Limited, as owners of the said
Plot described below, has been granted approval for and notified as Developers
at SEZ situated at Chennai (SEZ unit) vide notification F-2/124/2006-SEZ dated
16th November, 2006 and approval letter No. F-2/124/2005- EPZ dated
22nd
June, 2006.
	 
	B.	 	AND WHEREAS subsequently DLF Info City Developers (Chennai) Limited
has executed Co-Development Agreement dated 29th November, 2006 for the
purpose of development of the said SEZ unit with THE LESSOR as well as a
perpetual lease of the said Plot in favour of THE LESSOR.
	 
	C.	 	AND WHEREAS the Govt. of India, Ministry of Commerce and Industry,
Department of Commerce, SEZ Section vide their letter No. F 2 / 124 / 2005 —
EPZ dated 14th February, 2007 has also approved THE LESSOR as a Co-Developer of the said SEZ unit.
	 
	D.	 	AND WHEREAS THE LESSOR is seized and possessed of the said Plot and the
building to be constructed thereon, as per the Master Plan to be approved by the
CMDA and such other authorities as may be required and THE LESSOR being
competent to lease office spaces in the said building on the said plot has agreed
to give on lease, office space in the said Building as per detailed terms stipulated
in this Lease Deed and Annexures from I to X forming part of this Lease Deed.
	 
	E.	 	AND WHEREAS THE LESSOR is constructing multi-storeyed buildings
comprising of approx. 10 blocks with basements and named as ‘DLF IT Park @
Chennai’ (hereinafter referred to as the “said complex”) on immovable property
bearing No. 1/124, Shivaji Gardens, Moonlight Stop, Nandambakkam Post,
Ramapuram, Mount Poonamallee Road, Chennai 600 089 (more fully described
in the Schedule hereunder and hereinafter referred to as the “Scheduled
Property”) in accordance with the building plans as shall be approved by the
Chennai Metropolitan Development Authority (CMDA) or from such other
authorities as may be needed to form the same as a Special Economic Zone
under the rules framed by the Government of India from time to time for its
approval.
	 
	F.	 	AND WHEREAS THE LESSEE being in need of premises approximately
60,022 sq.ft. on the First Floor in Block 5 of the said complex (hereinafter
referred to as “the said Building”) to house its offices, has sought from THE
LESSOR a lease of the office space in the said building being constructed having
a total area admeasuring approx. 7,039,168 sq.ft. more or less at site as described
in Annexure III, from the Lease Commencement Date, as per the terms stipulated
herein.
	 
	G.	 	AND WHEREAS based on the above representations made by THE LESSOR
and after due inspection and verification of the said Plot, said Building,
ownership record of the said Plot, building and other documents relating to the
title, competency and all other relevant details, THE LESSEE is satisfied in all
respects with regard to the right, title and authority of THE LESSOR to enter
into this Lease Deed.

2

 

	H.	 	AND WHEREAS THE LESSOR when permits THE LESSEE to carry out the interior works in the
Demised Premises, THE LESSEE, agrees to pay THE LESSOR at 1.2 times of the actual cost
of electricity, water, charges for security services and other direct expenses incurred
by THE LESSOR on account of THE LESSEE during the fit out period. In the event the
building is already operational and THE LESSEE is carrying out the fit out works but
does not utilize the central air-conditioning for the Demised Premises during the
fit-out period; THE LESSEE shall be liable to pay fifty percent of the normal
maintenance charges for the same in addition to the power consumed in the Demised
Premises on Cost +20% basis.
	 
	 	 	THE LESSEE hereby confirms that it shall carry out, implement and execute all interior
works/designs of the Demised Premises in compliance/adherence with the approval/
guidelines issued by THE LESSOR from time to time for carrying out such interior works
in the Demised Premises.
	 
	 	 	THE LESSEE further confirms that it shall obtain/has obtained all pre-requisite
sanctions, approvals, licences, from all the Statutory/Competent Authorities, which may
be necessary for commencement of its business in the Demised Premises. Upon assurances of
THE LESSEE that it shall strictly abide by the stipulations contained in this Deed, THE
LESSOR has agreed to give on lease to THE LESSEE the Demised Premises on the terms and
conditions recorded herein.
	 
	I.	 	On THE LESSEE’s behalf, Mr. M. Hari Raju has negotiated the Lease Deed through Legal
counsel/ Advocate namely M/S ALMT Legal Bangolore.
	 
	 	 	On THE LESSOR’s behalf, the lease has been negotiated through Mr. Amit Grover Vice
President — Corporate Marketing.
	 
	J.	 	AND WHEREAS both the Parties have agreed to enter into this Lease Deed on the terms and
conditions stipulated in this Lease Deed and Annexures I to X annexed hereto:

NOW THEREFORE IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:

	1.	 	THE LESSOR hereby leases out to THE LESSEE and THE LESSEE takes on lease from the Date of
Possession /Lease Commencement Date (as specified in Annexure-H), office space admeasuring an
aggregate super built up area of 5576.136 sq. mtrs (60,022 sq.ft.) in Block 5 of the said
Building as more detailed in Annexure — II (hereinafter referred to as the “Demised
Premises”), the area calculations for which are defined in Annexure — IV to this Lease Deed,
and also obtains the right to use only the common areas in the said Building/said Plot to be
used by THE LESSEE together with other occupants in the said Building and the right to park
cars in terms of this Lease Deed, in the car parking spaces earmarked in the
basement(s)/surface/mechanical car parking spaces by THE LESSOR and the right to use only,
along with other occupants in the said

3

 

Building, areas in the basement reserved for common services and common circulation.

	2.	 	The rent as specified in this Lease Deed shall commence from the Date of Rent
Commencement as specified in Annexure — II

The car parking space charges, maintenance and other charges as specified in this Lease
Deed shall commence from the Date of Possession which date shall hereinafter be
alternatively referred to as the ‘Date of Lease Commencement’ as specified in Annexure
—II.

The detailed calculations of rent, car parking space charges & security deposits payable
by THE LESSEE during the period of this lease are given in Annexure — V to this Lease Deed.

	3.	 	During Lock-in-period as given in Annexure — II (the ‘Lock-in period”), starling
from the Date of Lease Commencement, THE LESSEE confirms that THE
LESSEE shall not terminate the Lease Deed during the Lock-in-period. However,
THE LESSEE can terminate the Lease Deed without cause, at any time after the
expiry of the Lock-in period of lease by giving notice in writing or payment of
rent and other dues in lieu of the notice to THE LESSOR as per the notice period
mentioned in Annexure — II. In the event of THE LESSEE terminating the Lease
Deed before the expiry of Lock- in- period, THE LESSOR shall also be entitled to
payment of rent, car parking space charges and maintenance charges, taxes, etc.,
if any, for the entire unexpired period of the Lock- in- period, from THE LESSEE
and THE LESSEE undertakes to pay the said charges without any objections
whatsoever. THE LESSOR’s sole right of terminating this Lease Deed shall be as
contained in clause 41 of the Annexure -1 appended to the lease deed.
	 
	4.	 	THE LESSOR shall charge and THE LESSEE shall pay an initial rent of Rs. 42/-
(Rupees Forty Two only) per sq.ft. per month as detailed in Annexure — II on the
super built — up area of the Demised Premises to be paid fully without any and all
deductions whatsoever save and except the deduction of tax at source, if
applicable. The liability towards payment of Service Tax as applicable shall be
borne by THE LESSEE.
	 
	5.	 	In addition to the rent payable for the Demised Premises as stipulated in
this Lease Deed, THE LESSEE shall also be liable to reimburse on its
sole account the entire part of any and all levies, duties, taxes on demised
property, land and building, charges, rates, cesses, fees, wealth-tax, penalties
thereof etc. imposed/demanded by the Central or the State Government/any
local body and/ or other authorities and all increases and/ or fresh impositions
thereof as applicable and attributable to the Demised Premises, on a pro-rata
basis, on and from the Date of Possession/ Lease Commencement, i.e., 1st July,
2008. THE LESSEE shall also be liable to fulfill any and all procedural
requirements as may be prescribed by the Central or the State Government/any
local body/all other authorities in connection with the subject matter hereof, as
THE LESSEE of the Demised Premises in the said Building.

4

 

In case of renewal, any taxes on property, levies, rates, cesses, charges and fees,
wealth tax, etc levied retrospectively during the entire occupancy period shall be
reimbursed by THE LESSEE on actual.

	6.	 	In the event, any such fresh imposition and/or increase as stated above in Clause 5
hereof is levied retrospectively, the liability of THE LESSEE shall relate only to
the period on and from the Date of Possession/ Lease Commencement, i.e. 1st
July, 2008. The said amount shall be paid separately by THE LESSEE to THE
LESSOR as indicated below and shall not be adjustable from the rent and other
sums due and payable by THE LESSEE to THE LESSOR in terms of this Lease
Deed. All such fresh impositions and/or increases as above stated shall be paid by
THE LESSEE to THE LESSOR within fifteen (15) days of written demand by
THE LESSOR to THE LESSEE, giving details thereof duly supported with copies
of the relevant documents, if any, from the Central or State Government/local
body / any and all authorities, as the case may be. In the event any all such levies,
duties, taxes on property, charges, rates, cesses, fees, wealth-tax, penalties etc.,
referred to above and/or such fresh imposition and/or increase is payable by THE
LESSEE to the Central or State Government/local body/any and all authorities as
the case may be. THE LESSEE shall pay the same within fifteen (15) days of the
receipt of written demand. Any default made by THE LESSEE in complying
with the terms of the clause under reference and clause 5, shall be entirely
at the costs and consequences of THE LESSEE and THE LESSEE shall be
liable for payment/s of penalties, outstanding dues arising therefrom, except
when the delay is due to THE LESSOR.
	 
	7.	 	At present various maintenance services, facilities and amenities within the said
Plot / said Building/Demised Premises and civic amenities in the DLF IT Park @
Chennai where the Demised Premises/said Building are located are being
maintained by THE LESSOR. Maintenance services are as set out in Annexure — VI to this Lease Deed, charges of which are payable to THE LESSOR or any
other nominees/ assigns of THE LESSOR by THE LESSEE as per bills raised by
THE LESSOR or any of its nominees/assigns calculated at 1.2 times the actual
expenditure being incurred. Additional charges towards service tax (es) as
applicable, shall also be payable by THE LESSEE.

However, the maintenance charges are charged for normal office operational hours i.e. from
8.00 A.M. to 8.00 P.M. (Monday to Friday) and from 8.00 A.M. to 2.00 P.M. on Saturdays,
except Sundays and Public Holidays, presently estimated at Rs.
12.50/- per sq. ft. per
month, as on 01.04.2006, subject to deduction of income tax at source, as applicable, and
also to increase in prices of petroleum products, electricity rates, taxes, wages and
salaries.

All operating and maintenance services for operating 365 days in a year, 7 days in a week
on 24 hours basis is also available at cost plus 20%. The Service Tax as applicable shall
be additional.

For working beyond normal office hours, additional charges will be calculated on the basis
of cost plus 20% presently estimated at Rs 0.15/-per sq. ft. per hour as on 1.4.2006,
subject to increase in prices of diesel &

5

 

	 	 	petroleum products, electricity rates, wages and salaries during the lease tenure/renewed
lease tenure. The above extra hour charges shall be charged on the super built up area of
the full floor even if the area of Demised Premises is less than the full floor area. The
maintenance charges shall be subject to deduction of income tax at source as applicable,
from time to time.
	 
	 	 	
At the completion of the fiscal year THE LESSOR will provide THE LESSEE complete audited
reports of the respective year or as soon as the audited report is over reviewed by an
external auditor and any other support documents as required by THE LESSEE.

	 
	8.	 	THE LESSEE agrees that, in consideration of THE LESSOR granting lease and
THE LESSEE in consideration of taking on lease the Demised Premises and due
performance of all its obligations stipulated in this Lease Deed, THE LESSEE
shall pay and always maintain with THE LESSOR during the entire term of this
Lease Deed, an interest free refundable security deposit (“Interest Free
Refundable Security Deposit”) for an amount as mentioned in Annexure — II.
	 
	9.	 	THE LESSEE has paid the amounts as mentioned in Annexure II, the receipt of
which is hereby acknowledged by THE LESSOR as the portions of the Interest
Free Refundable Security Deposit. The balance sum as mentioned in Annexure —
II being the balance of the Interest Free Refundable Security Deposit which shall
be paid by THE LESSEE simultaneously with the signing of this Lease Deed.
	 
	10.	 	Upon increase in rent as mentioned in Annexure — II, the aforesaid Interest Free
Refundable Security Deposit shall automatically stand increased proportionately
as mentioned in Annexure — II. The increased amount of Interest Free
Refundable Security Deposit shall be paid by THE LESSEE along with the rent
due for the month succeeding the month in which the term of the Lease Deed is
renewed.
	 
	11.	 	The entire amount paid by THE LESSEE as Interest Free Refundable Security
Deposit during the lease period shall be kept by THE LESSOR which shall be
refunded by THE LESSOR to THE LESSEE without any interest simultaneous to
THE LESSEE surrendering peaceful, vacant and physical possession of the
Demised Premises in bare shell condition on expiry or earlier termination of this
Lease Deed, if any and subject to adjustment or deduction of arrears of rent,
charges and any other dues, if any, due and payable under this Lease Deed or
renewal thereof.
	 
	12.	 	THE LESSEE shall not pay to THE LESSOR any amount as Interest Free
Refundable Maintenance Security Deposit for Normal Office Hour Operations or for 24*7 operations.
	 
	13.	 	THE LESSEE agrees, that in consideration of THE LESSOR granting the right to
use car parking spaces as mentioned in Annexure — II earmarked in the
basement(s)/surface/mechanical car parking spaces (plan attached as Annexure —
VII to this Lease Deed) to perform all its obligations under this Lease Deed
pertaining to use of car parking spaces.

6

 

	14.	 	THE LESSEE shall not have the right to terminate this Lease Deed and vacate the
Demised Premises until the expiry of the Lock in period as mentioned in
Annexure — II starting from the Date of Lease Commencement.
	 
	 	 	Thereafter, THE LESSEE shall have an option to renew the Lease Deed for the term as mentioned
in Annexure — II by giving six (6) months’ advance notice in writing prior to the expiry of
the first term of the Lease Deed. THE LESSOR may pursuant to the notice of renewal received
by THE LESSOR, execute and cause the renewed Lease Deed to be registered, at the cost of
THE LESSEE, and the renewed Lease Deed shall be, to the extent possible, on the same lines
hereof except only that the rent (and correspondingly, the security deposits and car parking
charges, if any) shall be enhanced as mentioned in Annexure — II.
	 
	 	 	THE LESSEE agrees that in case THE LESSEE terminates the Lease Deed prior to the expiry of
Lock- in - period as mentioned in Annexure — II to this Lease Deed, then THE LESSEE hereby
authorizes THE LESSOR to deduct from the deposits lying with THE LESSOR, the entire rent
and any other sums due and payable under this Lease Deed for the unexpired period of the
Lock- in- period and such other sums due and payable under this Lease Deed as on that
date. Further, THE LESSEE undertakes to pay the balance, if any, remaining after such
adjustments, deductions on or before the expiry of notice of termination.
	 
	 	 	In the event THE LESSEE terminates the Lease Deed prior to the expiry of the lock-in
period and has also availed any rent free period (period between the Lease Commencement
Date and Rent Commencement Date) during the lock-in period, an amount equivalent to the
proportionate rent free period extended for the unexpired lock-in period shall be refunded
by THE LESSEE to THE LESSOR or deducted from the deposits lying with THE LESSOR.
	 
	15.	 	After the said Lock- in- period, THE LESSEE may terminate the lease by giving six (6) months’ prior notice in writing to THE LESSOR or by payment of
proportionate equivalent rent and all other charges / sums stipulated under this
Lease Deed in lieu of the notice period stipulated herein. Upon the expiry of six
(6) months from the date of notice, as aforesaid, the lease shall stand terminated
subject to THE LESSEE paying THE LESSOR till the date of vacation of the
Demised Premises, the entire rent, car parking charges, maintenance charges,
other charges, taxes etc. as set out in this Lease Deed and handing over vacant,
peaceful physical possession of the Demised Premises.
	 
	 	 	That upon the expiry of initial lease period as mentioned in Annexure — II or upon expiry
or earlier termination during the renewed period as stipulated above, this Lease Deed will
expire and come to an end subject to THE LESSEE paying to THE LESSOR till the date of
vacation of the Demised Premises, the entire rent, car parking space charges, maintenance
charges, other charges, taxes etc. as set out in this Lease Deed and handing over vacant,
peaceful physical possession of the Demised Premises. If THE LESSEE fails to pay as
aforesaid or hand over

7

 

	 	 	peaceful and vacant physical possession of the Demised Premises on the date of expiry of
the last day of lease, THE LESSEE agrees to pay to THE LESSOR additional rent calculated @
Rs. 4,20,154/- (Rupees Four Lakhs Twenty Thousand One Hundred and Fifty Four only) per day
for occupation of the Demised Premises by THE LESSEE and in such an event THE LESSEE hereby
authorises THE LESSOR to withhold without any interest the refund of all the refundable
security deposits lying with THE LESSOR. THE LESSEE further agrees and authorizes THE
LESSOR, in the event of such occupation of the Demised Premises exceeding a period of three
(3) months beyond the expiry or last day of earlier termination of the lease, to forfeit
all the refundable security deposits lying with THE LESSOR and in addition to continue to
be liable and pay additional rent calculated @ Rs. 4,20,154/- (Rupees Four Lakhs Twenty
Thousand One Hundred and Fifty Four only) per day for the number of days of such occupation
beyond the expiry or earlier termination of the Lease Deed.
	 
	16.	 	Simultaneous to THE LESSEE paying all its dues under this Lease Deed and
delivering peaceful, vacant and physical possession of the Demised Premises on
or before the last day of the validity of the Lease Deed, THE LESSOR shall
refund all the refundable security deposits without any interest thereon under this
Lease Deed deposited by THE LESSEE only after adjusting outstanding dues, if
any. In case of delay by THE LESSOR in refunding the refundable security
deposits, THE LESSOR shall pay interest to THE LESSEE at the rate of 15% p.a.
for the period of delay and THE LESSEE shall be entitled to retain possession of
the Demised Premises without use and without payment of rent and other charges
for such period of delay.
	 
	17.	 	All costs, charges, expenses including penalties, payable on or in respect of
execution and registration of this Lease Deed and on all other instruments and
deeds to be executed pursuant to this Lease Deed, shall be borne and paid solely
by THE LESSEE who shall be responsible for compliance of the provisions of
Indian Stamp Act, 1899.
	 
	18.	 	The Lease Deed along with the Annexures annexed hereto constitutes the entire
agreement between the Parties and revokes and supersedes all previous
discussions, correspondence and deeds between the Parties, if any concerning the
matters covered herein whether written, oral or implied. This Lease Deed shall
not be changed or modified except by written amendment duly agreed by the
Parties.
	 
	19.	 	The original Lease Deed duly executed and registered in terms of this Lease Deed
shall be retained by THE LESSEE and copy of the same certified to be a true
copy will be provided to THE LESSOR by THE LESSEE. The original Lease
Deed shall be produced by THE LESSEE as and when required by THE
LESSOR.

8

 

	20.	 	Failure of either Party to enforce at any time or for any period of time the
provisions hereof shall not be construed to be waiver of any provisions or of the
right thereafter to enforce each and every provision hereof.
	 
	21.	 	THE LESSOR shall not be held responsible for any consequences or liabilities
under this Lease Deed if it is prevented in performing its obligations under the
terms of this Lease Deed by reason of laws or regulations, action by any local
body or authority, local or otherwise, riots, insurrection, war, terrorist action, acts
of God and unforeseen circumstances beyond its control. The performance of
THE LESSOR’s obligation under this Lease Deed shall be subject to the regular
payment of rent including other payments as stipulated in this Lease Deed.
	 
	22.	 	Any and all disputes or differences between THE LESSOR and THE LESSEE
arising out of or in connection with this Agreement or its performance shall be
settled amicably within 15 days through consultation between the Parties.
Thereafter, if the Parties have failed to reach an amicable settlement on any or
all disputes or differences arising out of or in connection with this Agreement or
its performance, such disputes or differences shall be submitted to Arbitration for
final adjudication. Arbitration proceedings shall be conducted by a Sole Arbitrator
who shall be appointed by the mutual consent of both the Parties. Such arbitration
shall be in accordance with the Indian (Arbitration and Conciliation) Act, 1996
(“Arbitration Act”) and the rules made there under and/or any amendments
thereof.
	 
	 	 	The decision of the Arbitrator shall be final and binding upon the Parties.
	 
	 	 	The arbitration proceedings shall be held in Chennai and shall be in English language. The
cost of such arbitration shall be borne equally by both the Parties.
	 
	 	 	The Civil Courts and High Court at Chennai, alone shall have jurisdiction for the purposes
of this agreement.
	 
	23.	 	That this Lease Deed and the rights and obligations of the Parties under or arising
out of this Lease Deed shall be construed and enforced in accordance with the
laws of India.

The terms and conditions agreed between THE LESSOR and THE LESSEE containing interalia a)
covenants and conditions to be observed and performed by THE LESSEE, and b) covenants and
conditions to be observed and performed by THE LESSOR are as per
Annexures I to X of this Lease
Deed. These Annexures I to X shall form an integral part of this Lease Deed and shall be binding on
THE LESSOR and THE LESSEE.

IN WITNESS WHEREOF THE LESSOR DLF Assets Private Limited through its Authorised Signatory Shri A.C.
Sachdev authorised to execute lease deeds etc. This Deed will be presented for registration before
the Registering Authority and got registered by Shri Ernest David, who has been authorised vide
Power of Attorney dated 18.03.2008 of

9

 

the company to appear before the registering authority and present for registration,
acknowledge and get registered any deed or documents executed by Shri A.C. Sachdev on behalf of
THE LESSOR.

IN WITNESS WHEREOF the Parties hereto have set their hands and seal to these presents on the day,
month and year first and above mentioned.

SIGNED AND DELIVERED on behalf of the above named DLF Assets Private Limited acting through Mr. A.
C. Sachdev, Authorized Signatory:

	 	 	 	 
	In the presence of:

WITNESSES:

	 	For and on behalf of

DLF Assets Private Limited
	 
	 
	 	 	 
	1.

	 	/s/ A.C. Sachdev

	2.

	 	(A. C. Sachdev)

AUTHORISED SIGNATORY	 

SIGNED AND DELIVERED on behalf of the above named M/s. Virtusa Software Services Private
Limited by its Authorized Signatory, Mr. Sumit Chatterjee:

	 	 	 	 
	In the presence of:

WITNESSES:

	 	For and on behalf of

Virtusa Software Services Private Limited
	 
	 
	 	 	 
	1.

	 	/s/ Sumit Chatterjee
	 
	2.

	 	(Sumit Chatterjee)

AUTHORISED SIGNATORY	 

10

 

ANNEXURES

	 	 	 	 	 
	I

	 	—
	 	Detailed Terms and Conditions between THE LESSOR and THE LESSEE
	 
	 	 	 	 
	II

	 	—
	 	Commercial Terms and Conditions
	 
	 	 	 	 
	III

	 	—
	 	Description of the Plot
	 
	 	 	 	 
	IV

	 	—
	 	Super area calculations
	 
	 	 	 	 
	V

	 	—
	 	Statement of rent and Interest Free Refundable Security
Deposit payable by THE LESSEE to THE LESSOR during the lease period.
	 
	 	 	 	 
	VI

	 	—
	 	Maintenance charges
	 
	 	 	 	 
	VII

	 	—
	 	Car parking spaces earmarked for use by THE LESSEE
	 
	 	 	 	 
	VIII

	 	—
	 	Specifications
	 
	 	 	 	 
	IX

	 	—
	 	Condition of the Demised Premises at the time of handover for occupation
	 
	 	 	 	 
	X

	 	—
	 	THE LESSEE’S responsibility during interior
fitouts work, additions/modifications/alterations of
interior works and during the Lease Tenure/Lease Renewal

11

 

ANNEXURE—I

Terms and conditions forming an integral part of the Lease Deed dated                 2008 between DLF Assets
Private Limited and Virtusa Software Services Private Limited, while not derogating from the
mutual promises set out therein and are incorporated in, and form a part of the Lease Deed:

COVENANTS AND CONDITIONS TO BE OBSERVED AND PERFORMED BY THE LESSEE:

	1.	 	To pay to THE LESSOR or its nominees/permitted assigns, by cheque / bank
draft/transfer payable at New Delhi the rent and all other sums payable under this Lease
Deed. In case the Rent Commencement Date is other than the first of the month, in such
case THE LESSEE shall pay proportionate Rent and other sum payable under the lease Deed in
advance for the portion of the month i.e. from the Rent Commencement Date to last day of
the month and also for the following month. Thereafter the rent and all other sums payable
under this Lease Deed shall be paid on the 1st day of each calendar month (due
date) but not later than the 7th day, in advance for the month in respect of
which such sums are payable.

	2.	 	To be liable to pay interest @ 15% per annum on all amounts due and payable by THE
LESSEE under this Lease Deed for the period of delay beyond the due date. This is in
addition to the rights of THE LESSOR under Clause 41 of this Annexure—I given hereunder.

	3.	 	To pay all amounts agreed to be paid in Clauses 4, 5 and 6 of the Lease Deed,
provided, however, that the liability of THE LESSEE for such payments shall be calculated
proportionately to the super built-up area of the Demised Premises and provided further
that such liability shall commence from the date such revision / imposition/increase is
effective from the Date of Lease Commencement or any subsequent date.

	4.	 	To pay THE LESSOR or its nominees or assigns, the actual charges incurred by THE
LESSOR for consumption of electricity and power in the Demised Premises and to pay by the
due date the bills for consumption of water, power and electricity. In case of meters
provided separately, THE LESSEE shall pay by due date the meter hire charges and also the
bills for consumption of water, power and electricity in the Demised Premises as recorded
in the meters or as demanded by THE LESSOR or its nominees or assigns. In case of there
being common meter(s) for recording the consumption by THE LESSEE jointly with the other
tenants or occupants of the said Building, THE LESSEE shall pay the proportionate cost of
water, power and electricity charges calculated on the super built-up area of the Demised
Premises. THE LESSOR shall, as and when required, provide THE LESSEE with the facility and
use of their stand by generators as a back up for their internal power and electricity
requirements at a charge which shall be 1.2 times of the expenditure incurred by THE
LESSOR. Provided, however, that THE LESSEE shall plan and distribute its electrical loads
in conformity with the electrical systems installed by THE LESSOR and get these works
executed after due approval in writing from THE LESSOR. Provided further that, should

12

 

	 	 	modifications, additions, alterations be required in the fire-fighting, electrical and other
systems already installed, THE LESSOR shall, if feasible make such changes and be entitled to
recover from THE LESSEE, all additional cost incurred on this account at a charge which shall
be 1.2 times of actual costs.
	 
	5.	 	To carry out day-to-day maintenance of the Demised Premises and the fixtures and fittings
installed therein and the normal maintenance, minor repairs, including painting and
distempering and polishing the interior of the Demised Premises at its own cost.
	 
	6.	 	To pay every month in advance, along with the aforesaid rent, proportionate charges for the
operation / maintenance / service charges (more specifically detailed in Annexure —VI) in
respect of the central air-conditioning / heating plant, the cost of running, maintenance and
servicing of the service / utility lifts, generators, the cost of cleaning the said Plot and
said Building, maintenance of lawn/grounds, cost of security services, electricity charges,
water charges and such other necessary/ancillary expenses of and incidental to the
preservation and maintenance of the said Building/ Plot in which the Demised Premises is
located and for the adequate provision of common services and facilities at a charge which
shall be 1.2 times the actual expenditure on a calculation based on pro rata basis
corresponding to the super built-up area of the Demised Premises.
	 
	 	 	If THE LESSEE fails to make payments of Maintenance Charges of any kind payable by THE LESSEE
in terms of this Lease within 7 days of its due date, THE LESSOR shall be entitled, in its sole
discretion and without notice, to stop supplying to THE LESSEE electricity / air conditioning/
water and / or all other services in addition to any other remedies/ actions THE LESSOR may
take in its sole discretion. By doing so, THE LESSOR shall have no responsibility or liability
for any loss and damage, if any, suffered by THE LESSEE and THE LESSEE shall not be entitled to
lodge any claim whatsoever against THE LESSOR as a result of such action.
	 
	 	 	The common areas, facilities and amenities within the said Building shall be available for use
only subject to the timely payment of maintenance charges and THE LESSEE agrees that in the
event of failure to pay maintenance charges on or before the due date, THE LESSEE shall not
have the right to use such common areas and facilities. THE LESSEE shall have no ownership
rights, title, interest or claim whatsoever in the said Plot, common areas, facilities and
amenities within the said Building.
	 
	7.	 	To permit THE LESSOR and its agents at the normal working hours of THE LESSEE, except in case
of emergency, but after intimating in writing to that effect, to enter into the Demised
Premises for the purpose of inspection or for any other purposes connected with or incidental
to the terms of the Lease Deed.
	 
	8	 	To hand over the Demised Premises together with THE LESSOR’s fixtures and fittings therein,
in good order and condition (reasonable wear and tear excepted) on the expiry /earlier
termination of the Lease, which ever is earlier.

13

 

	9.	 	Not to do or permit to be done any act or thing which may render void or voidable any
insurance relating to or in respect of a part or the whole of the said Plot, the said Building
or the Demised Premises, or cause any increase in premium payable in respect thereof.
	 
	10.	 	To use the Demised Premises for office purposes only and not to carry on or permit to be
carried on in the Demised Premises or in any part thereof any activities which shall be or are
likely to be unlawful, obnoxious or of nuisance, annoyance or disturbance to other
tenants/occupants of the said Building wherein the Demised Premises are situated or store any
goods of hazardous or combustible nature or which are heavy so as to affect the construction
or the structure of the said Building or any part thereof or in any manner interfere with
common usage. The usage of the Demised Premises for office use shall be unrestricted and
uninterrupted and shall be made available at all times of day and night to THE LESSEE, its
employees, servants, representatives, customers, visitors and invitees.
	 
	 	 	THE LESSEE shall get the Unit Approvals for the Demised Premises before handover of Demised
Premises for fitout works. THE LESSEE shall arrange to get their Unit Approvals for the
Demised Premises terminated and complete all formalities with regards to such termination at
its cost and expenses prior to the expiry of the Lease term / or renewal term thereof.
	 
	 	 	In case of THE Lessee’s failure to get the unit approvals terminated within the aforesaid
period, it will be assumed that the peaceful, vacant and physical possession of the Demised
Premises have not been handed over by THE LESSEE to THE LESSOR on the expiry of the Lease Term
and THE LESSOR shall be entitled to claim damages, payments, dues in accordance with the terms
of the Lease Deed.
	 
	11.	 	Subject to all local laws applicable, THE LESSOR shall, through its architect identify the
location(s) and provide space for signage at the atrium /floor occupied by THE LESSEE, as
approved by the architect and THE LESSEE will be allowed to put signage on such location(s).
All taxes including service tax, duties, rates, cesses, costs and charges relating to the
signages payable to the authorities concerned shall be borne and paid by THE LESSEE directly.
	 
	12.	 	The Demised Premises shall be used by THE LESSEE only and THE LESSEE shall not assign,
transfer, mortgage, sublet or underlet or grant leave & license or transfer or part with or
share possession in any manner whatsoever, of any portion of the Demised Premises, except as
permitted under this Lease Deed.
	 
		 	a) However, THE LESSEE shall have the option to sublet any portion of the Demised Premises to
any of its subsidiaries / group companies, without any approval from THE LESSOR but with prior
written intimation to THE LESSOR. A Lease Deed on similar terms will then be executed between
THE LESSEE and such Sub- Lessee(s).

14

 

	 	 	b) In the event, THE LESSEE merges / amalgamates / consolidates or transfer its assets with/to
any entity on account of any merger/amalgamation/consolidation, then a fresh Lease Deed shall be
executed between THE LESSOR and the new entity.
	 
		 	c) However, such sublessee/ new entity shall not be a competitor of THE LESSOR or be in the same
line of business as that of THE LESSOR, i.e., in real estate business. Further, THE LESSEE shall
have the option to sublet any portion of the Demised Premises to any third party after obtaining
the prior specific written approval of THE LESSOR, which shall not be unreasonably withheld.
However, such subletting to the third party shall occur only within the lock in period of the
Lease and the tenure of the sublease shall not exceed such lock in period. Alternatively, in
such a scenario, THE LESSOR, at its sole discretion, may waive off the lock in period and take
the possession of such portion/ entire Demised Premises back from THE LESSEE.
	 
		 	d) All costs, charges, expenses including penalties, payable on or in respect of execution and
registration of the fresh Lease Deed or Sublease Deed and on all other instruments and deeds to
be executed pursuant to the fresh Lease Deed or Sublease Deed, shall be borne and paid solely by
new entity/transferee who shall be responsible for compliance of the provisions of Indian Stamp
Act, 1899 or such other applicable laws.
	 
		 	e) However, at all times, including when the Demised Premises are sub-let by THE LESSEE in
accordance with the above stated, LESSEE alone shall be responsible for enforcement / compliance
of the terms and conditions of the Lease Deed to be executed in all the above cases.
	 
		 	f) A copy of sub-lease shall be given to THE LESSOR for record purpose by THE LESSEE in all the
above cases.

	 
		 	
g) The right of sublet will be subject to SEZ Acts and Rules but within the above procedure.
	 
	13.	 	Subject to clause 22, THE LESSEE shall not make any structural changes, additions or
alterations in the Demised Premises without prior consent of THE LESSOR in writing.
	 
	14.	 	Upon its taking possession of the Demised Premises from THE LESSOR, THE LESSEE is satisfied
that the construction work as also various installations as per Annexure-IX like
electrification work, sanitary fittings, water, sewerage connections, fire fighting
equipment and detection systems etc. are in good working condition and any issues, if any,
with respect thereto, have been got removed and rectified before its taking possession from
THE LESSOR and that it shall not require THE LESSOR to perform any construction work,
installations etc in the Demised Premises (except structural repairs, if any ) and there
shall be no obligation whatsoever on the part of THE LESSOR to repair, renovate, improvise or
to do anything concerning the Demised Premises, the said Building and the said Plot in any
manner whatsoever. However, after taking possession of the Demised Premises, THE LESSEE may
provide a snag list for THE LESSOR

15

 

	 	 	for rectification. However, this shall not amount to shifting of the respective Lease and
Rent Commencement Date.
	 
	15.	 	THE LESSOR has provided the fire fighting and fire detection system in accordance with the
Amendment no.3 to the National Building Code of 1983 (SP7): 1983 Part IV on each floor, common
areas and basements of the building.
	 
	 	 	When the Demised Premises are handed over to THE LESSEE for interior fit-out works or when
THE LESSEE carries any additional interior works/modifications/alterations during the
Lease period, THE LESSEE agrees that it shall carry out such work(s), without altering/
tampering with the fire fighting systems as installed therein. However, any modifications
/ additions / alterations to the existing fire fighting system shall be made by THE LESSEE
with the prior written approval of THE LESSOR and by providing alternative and standby
fire fighting system in the building. Any lapse/violation/negligence on the part of THE
LESSEE or its contractors/ agents during any such interior works or
additions/modifications/alterations resulting in any kind of hazard or fire in the Demised
Premises/ Building, loss of life/ property including third party, damage to the Demised
Premises / building structure etc. and all financial and legal consequences arising there
from shall be the sole responsibility of THE LESSEE and THE LESSEE shall not impose any
legal and financial liability on THE LESSOR.
	 
	 	 	THE LESSEE’S responsibility during interior fitout work(s) and any subsequent,
additions/modifications/alterations of interior works during the Lease Tenure/Lease
Renewal is more specifically detailed in Annexure X hereto.

COVENANTS AND CONDITIONS TO BE OBSERVED AND PERFORMED BY THE LESSOR:

	16.	 	During the term of the Lease Deed, THE LESSOR shall at its own cost, design and install a
continuous and proper air conditioning / heating system and shall use its best efforts to
maintain the same in good order and shall operate and run the same to ensure air-conditioning
/heating facilities to the Demised Premises throughout the year and shall be entitled to
recover from THE LESSEE, charges on the basis as are stipulated in this Lease Deed. Provided,
however, that should THE LESSEE require any changes, additions, alterations, in the system,
due to its interior layouts, THE LESSOR may, if possible, make such changes and be entitled to
recover from THE LESSEE, all additional costs incurred on this account at a rate which shall
be 1.2 times of the actual costs incurred.

	17.	 	Except in the event of a mechanical defect and / or electrical failure, THE LESSOR shall
provide air-conditioning / heating facilities to the Demised Premises during the normal office
hours i.e. from 8 a.m. to 8 p.m. on all week days except Saturdays, Sundays and Public
Holidays. On Saturdays, the air-conditioning will be provided from 8 a.m. to 2 p.m. only.
Provided, however, that on receiving twenty four (24) hours’ notice, in writing, should THE
LESSEE so desires, THE LESSOR, if possible (subject to availability of sufficient power load
and associated infrastructure to meet THE LESSEE’s requirement on working on

16

 

	 	 	additional hours), and permissible (subject to THE LESSEE obtaining the requisite
approvals from the competent authorities to operate on Public Holidays), may at the
exclusive cost of THE LESSEE, provide air — conditioning facilities, on the second half of
Saturday and also Sundays and /or Public Holidays, calculated at a rate which shall be 1.2
times the actual cost incurred on this account, to the Demised Premises beyond the timings
fixed, as aforesaid for the provision of such facilities.
	 
	18.	 	Except to the extent of a mechanical defect and/ or electrical failure, THE LESSOR shall
maintain the lifts in the said Building serving the Demised Premises and operate and run the
same during the normal office hours as specified above, on all week days except on Saturdays,
Sundays and Public Holidays. On Saturdays, the lifts shall operate for first half of the day
only. These timings shall, however, be subject to such restrictions as may be imposed by any
competent authority/ies in this behalf. One of the lifts in the said Building shall, however,
operate even after normal office hours as well as in the second half on Saturdays and also on
Sundays and/or Public Holidays.
	 
	 	 	Provided, however, THE LESSEE may by giving twenty four (24) hours’ notice in writing,
should THE LESSEE so requires, THE LESSOR may provide lift facilities to THE
LESSEE calculated at a rate which shall be 1.2 times the actual cost incurred on this
account, beyond the timings fixed as aforesaid for the provision of such lift facility to
the Demised Premises, on the second half of Saturdays and also on Sundays and Public
Holidays.

	19.	 	To carry out at its own costs, all major and structural repairs to the Demised Premises and
also to the said Building.
	 
	20.	 	To supply and maintain regular supply of electricity and water to the Demised Premises.
	 
	21.	 	To keep the Demised Premises in wind and watertight condition.
	 
	22.	 	To permit to carry out at the cost of THE LESSEE, but without in any way damaging the main
structure of the Demised Premises or the said Building, erection of internal partitions and
other internal alterations and additions which are not visible from outside, as may be
necessary for the business of THE LESSEE provided THE LESSEE shall give prior written
intimation of thirty (30) days to THE LESSOR in writing and with prior written approval of THE
LESSOR’s architect, THE LESSEE shall before commencing such alteration(s) or addition(s),
provided, further that if any such additions or alterations, require the prior approval or
permission of any Municipality or any other local body or authority, local or otherwise, or
are governed by any rules or regulations. THE LESSEE shall not carry out such additions or
alterations or erections without obtaining the prior permission or approval aforesaid and
complying with such rules and regulations of such Municipal or local body or Government
Authority. Provided further, that THE LESSEE shall upon vacating the Demised Premises remove
such fixtures and fittings and restore the Demised Premises to THE LESSOR in its original
condition excepting reasonable wear and tear.

17

 

	23.	 	To allow during the term of the Lease Deed, peaceful and uninterrupted enjoyment of the
Demised Premises, subject to THE LESSEE performing all its obligations under this Lease
Deed.

	24.	 	After the Handover of the Demised Premises by THE LESSOR to THE LESSEE for Occupation, in
case there is any penalty and/ or levy (ies) imposed by any of the statutory authorities in
the event of THE LESSEE’s occupation of the Demised Premises without THE LESSOR having
obtained the Partial Completion Certificate (as per Chennai norms), such aforesaid penalty/
levy (ies) shall be solely to THE LESSOR’s account. THE LESSOR shall endevour to obtain the
Partial Completion Certificate within Twenty Four (24) months from Lease Commencement Date.
	 
	 	 	In the interim, THE LESSOR shall provide THE LESSEE at the time of Handover for
Occupation, a copy of Certificate from the Architect mentioning that the extent of Built
up area to be built by THE LESSOR is forming part of the submitted/ approved/ sanctioned
plan by the Chennai Metropolitan Development Authority.
	 
	25.	 	THE LESSOR will allow the respective telecom companies to use the service shafts (if space is
available) in the said Building to bring telecom fiber and cables to THE LESSEE’s premises
after payment of access charges by the respective telecom companies. There will not be any
access charge to THE LESSEE. However, the Service Provider (s) shall pay the rent and access
charges as decided by THE LESSOR, as applicable. Further, THE LESSEE shall directly deal with
the Service Providers for accessing the telecom services at its own cost.

COVENANTS AND CONDITIONS TO BE OBSERVED AND PERFORMED BY THE PARTIES:

	26.	 	The super built — up area calculations are as provided in Annexure — IV hereto. All payments
by THE LESSEE towards rent, interest free refundable security deposit, maintenance and other
charges etc. shall be determined and payable by THE LESSEE in terms of the final super
built-up area to be determined on the Date of Possession.
	 
	27.	 	In the event any local body / authority takes over the maintenance of such services and
facilities / amenities and the payment for such services and facilities / amenities of DLF IT
Park @ Chennai (more particularly set out in Annexure — VI) to the local body / authority is
to be made by THE LESSOR, then THE LESSEE agrees to reimburse all such costs and charges as
may be levied in respect of the Demised Premises to THE LESSOR at actuals duly supported by
relevant documents, if available.
	 
	28.	 	THE LESSOR has provided electrical wiring only up to the main distribution board on each
floor in the said Building and shall not provide any electric wiring, fixtures, fans, electric
and water meters etc., inside the office spaces which shall be installed by THE LESSEE at its
own cost. Similarly air conditioning is provided by THE LESSOR up to air handling unit on
each floor of the said

18

 

	 	 	Building. The internal distribution system of air conditioning in the Demised Premises
shall be the sole responsibility of THE LESSEE.
	 
	29.	 	THE LESSEE shall not pay any deposit for supply of power load of 360 KVA for the Demised
Premises. THE LESSEE agrees to reimburse to THE LESSOR or any other nominees or assigns,
costs, charges, deposits, etc. as may be demanded by Tamil Nadu Electricity Board or any other
agency supplying power to the Demised Premises from time to time and paid by THE LESSOR or its
nominee / assign for arranging bulk electricity supply to the said Plot / said Building /
Demised Premises and such reimbursement is to be payable to THE LESSOR on the basis of
proportionate electricity load provided to the Demised Premises and proportionate load
attributable to THE LESSEE in respect of common areas of the said
Plot / said Building. Out of
the above sums, any deposit to be refunded by Tamil Nadu Electricity Board shall, be refunded
by THE LESSOR to THE LESSEE simultaneously with the expiry and / or earlier termination of
this Lease Deed and on handing over the peaceful physical and vacant possession of the Demised
Premises by THE LESSEE.
	 
	30.	 	The fire fighting and fire detection system which is provided by THE LESSOR in accordance
with Amendment no.3 to the National Building Code of 1983 (SP7): 1983 Part IV is limited to
installation of sprinklers and fire detection system in the basement(s) and common areas of
the said Building such as lobbies, staircases corridors, etc. and service shaft for fire
fighting and sprinkler services on each floor.
	 
	 	 	If, however, due to any subsequent legislation, Government orders, directives or guidelines
or due to any change in the National Building Code, additional fire safety measures are
undertaken, then THE LESSEE agrees to pay on demand additional expenditure incurred thereon
for installing additional fire safety measures as determined by THE LESSOR which shall be
final and binding on THE LESSEE. THE LESSEE agrees that, in case THE LESSEE so desires, it
shall at its own cost and responsibility install fire fighting equipment and systems within
the Demised Premises which shall be in compliance with the fire fighting regulations and
safety systems as prevalent and approved by the Competent Authorities.
	 
	 	 	However, it is made clear that any lapse on the part of THE LESSEE in installing safe and
adequate fire fighting systems within the Demised Premises or any fire, electrical or
otherwise, or any kind of hazard originating from the Demised Premises shall not impose any
legal and financial liability on THE LESSOR and THE LESSEE agrees to keep THE LESSOR
indemnified and harmless in this regard. Similarly THE LESSEE shall ensure that the
internal air-conditioning electrical systems and any other work done internally within the
Demised Premises shall not pose any fire, electrical, structural, pollution and health
hazards. THE LESSEE shall be solely responsible for all legal and financial consequences
arising therefrom and THE LESSEE agrees to keep THE LESSOR indemnified and harmless in this
regard.

19

 

	31.	 	If THE LESSEE requires any extra fire fighting systems to be installed in the Demised
Premises, including but not limited to extending fire fighting system in the Demised
Premises, then the same shall be installed by THE LESSOR at a cost which shall be 1.2 times
the actual costs, to be payable by THE LESSEE to THE LESSOR.
	 
	32.	 	In the event THE LESSOR suggests additional fire safety measures, though not statutorily
required, for installation by THE LESSEE within the Demised Premises and THE LESSEE fails to
implement THE LESSOR’s suggestion either fully or in part, then THE LESSEE alone shall be
liable and responsible for all consequences arising from such inaction/decision on its part.
	 
	33.	 	It is abundantly made clear to THE LESSEE that the cost incurred by THE LESSEE, during the
lease period, to install fire fighting and fire detection systems within the Demised Premises,
shall be to its account solely and shall not be borne or refunded by THE LESSOR or deducted
from the rent payable to THE LESSOR under any circumstances whatsoever.
	 
	34.	 	The specifications and information as to the materials used in construction of the Demised
Premises are set out in Annexure — VIII and any change in the Specifications as set out in
Annexure — VIII, if desired by THE LESSEE, shall be implemented by THE LESSOR at a rate which
shall be 1.2 times the actual cost which shall be paid by THE LESSEE to THE LESSOR.
	 
	35.	 	THE LESSOR has provided to THE LESSEE car parking spaces in the basement/surface/mechanical
car parking spaces as earmarked in Annexure — VII subject to payment of rent and maintenance
charges as per details mentioned in Annexure — II. In the event additional car parking spaces
are required by THE LESSEE, THE LESSEE shall pay to THE LESSOR additional car parking space
charges as may be mutually agreed between the Parties hereto for every additional car parking
space provided by THE LESSOR, if available, on the same terms and conditions applicable to
rent including rate of escalation, interest free refundable security deposit, maintenance
charges stipulated in this Lease Deed.
	 
	 	 	In the event of THE LESSOR providing electro mechanical system for car parking spaces, the
car parking spaces as earmarked in Annexure —VII may be re-allocated, provided, however,
the number of car parking spaces shall remain the same in terms of this Lease Deed.
	 
	 	 	The liability towards payment of Service Tax as applicable shall be borne by THE LESSEE.
	 
	36.	 	The use of car parking spaces in the basement(s)/surface/mechanical car parking spaces in the
said Building shall be allowed to THE LESSEE only from 8 a.m. to 8 p.m. from Monday to Friday
and from 8 a.m. to 2.p.m. on Saturday except Sundays and Public Holidays. The above timings
shall, however, be subject to such restrictions as may be imposed by any statutory authority
or for security reason. THE LESSEE shall use the parking spaces only for the purposes of
parking its cars and for no other use. THE LESSEE undertakes that it shall not

20

 

	 	 	make any constructions on the car parking spaces or create obstruction of any kind on it
or around these spaces to hinder the movement of vehicles and persons. Further, without
prior permission in writing of THE LESSOR, overnight parking of vehicles shall not be
permitted for security reasons. Any usage of car parking spaces from 8 p.m. to 8 a.m. on
weekdays and after 2 p.m. on Saturdays and any usage thereof on Sundays and Public
Holidays would entail additional maintenance charges as determined by
THE LESSOR.
	 
	37.	 	During the term of the Lease Deed, THE LESSOR shall obtain fire and special peril insurance
coverage of the entire said Building, including third-party liability and shall make timely
payment of all insurance premiums. For record purposes, THE LESSOR shall give THE LESSEE,
copies of the insurance policy and the receipts of the premiums paid.
	 
	38.	 	During the term of the Lease Deed, THE LESSEE shall obtain comprehensive insurance coverage,
including third-party coverage, of all interior works, renovations, furniture, equipment
and/or other items kept or stored in the Demised Premises and shall make timely payments of
all insurance premia. THE LESSOR shall in no way be responsible for any loss occasioned by THE
LESSEE on account of not obtaining comprehensive insurance coverage of all renovations,
furniture, equipment and/or other items kept or stored in the Demised Premises. For record
purposes, on written request, THE LESSEE shall give THE LESSOR, copies of the insurance policy
and the receipts of the premiums paid.
	 
	39.	 	However, it is made clear that in the event of an accident or fire or damages taking place in
or arising from the said Building for any other reason resulting in any loss, financial or
otherwise to either party or to third parties, both Parties agree to take up the matter with
their respective insurance companies through the insurance cover including third party
liability.
	 
	40.	 	That if at any time during the occupation by THE LESSEE of the Demised Premises, the lifts or
the air conditioning system fails to function or fails to maintain the required temperature
levels, THE LESSEE will be entitled to call upon and require THE LESSOR to remedy and rectify
the system within a reasonable time. Provided, however, that THE LESSOR will ensure that
there will not be total absence of lifts and air-conditioning for more than one day at a time.
	 
	41.	 	That if any amount payable by THE LESSEE to THE LESSOR by way of rent or otherwise under this
Lease Deed shall be in arrears and unpaid for a period of thirty (30) days after the same has
become due, or if THE LESSEE shall omit to perform, observe any covenant or condition to be
observed and performed on the part of THE LESSEE and shall continue to do so or fails to
remedy the breach within thirty (30) days after written notice is received in respect thereof
by THE LESSEE, or THE LESSEE is adjudicated as insolvent, THE LESSOR may forthwith re-enter
upon the Demised Premises or upon any part thereof and this Lease Deed shall thereupon stand
determined but without prejudice to any claim which THE LESSOR may have against THE LESSEE in
respect of any breach, non — performance or non — observance of the covenants or conditions
herein

21

 

contained. It is further agreed by THE LESSEE that THE LESSOR shall be entitled to adjust
all and any sums due to THE LESSOR including rent, car parking space charges and
maintenance charges for the unexpired period of lease, taxes, interests, damages etc.,
against all deposits made by THE LESSEE with THE LESSOR under this Lease Deed and refund
the balance amount, if any, after such adjustment, to THE LESSEE. In the event the
aggregate of arrears of rent, any other sum due and payable and the above mentioned costs
exceed the amount deposited as security deposit with THE LESSOR and maintenance security
deposit, then THE LESSEE shall pay to THE LESSOR such amounts due to THE LESSOR, over and
above such sums deposited by THE LESSEE with THE LESSOR.

	42.	 	That if the Demised Premises or any part thereof be destroyed or damaged by fire (not caused by any willful act or negligence of THE LESSEE), earthquake,
tempest, flood, lightning, violence of any army or mob or enemies of the country
or by any other irresistible force so as to render the Demised Premises unfit for
the purpose for which the same was let, THE LESSEE may, temporarily vacate
the whole or such portion of the Demised Premises as may be required to enable
THE LESSOR to carry out repairs in order to restore the Demised Premises as it
was then existing at the time of THE LESSEE entering into the Demised
Premises (reasonable wear and tear excepted) and in such event, the payment of
rent, other charges and maintenance/service charges till the affected area of the
Demised Premises or portion thereof are repaired and restored to the state as
specified above shall be deferred.
	 
	 	 	However, if such force majeure conditions persist for more than 120 days, the LESSEE shall
have the option to terminate the Lease Deed by giving 30 days written notice to the LESSOR
and the security deposits paid under the MOU and the Lease Deed would be refunded to the
LESSEE.
	 
	43.	 	THE LESSEE undertakes that during the term of this Lease Deed or any extension thereof, it shall maintain its corporate existence and shall not dissolve
or liquidate or enter into an agreement with any party, including but not restricted
to a compromise with its creditor(s) such that its corporate existence is or may be
questioned, in which event, this Lease Deed shall automatically terminate.
	 
	44.	 	THE LESSOR shall have the right to install any displays of
multimedia/visual format in the common areas like lift lobbies, atrium(s), lifts etc. of the said Building.
	 
	45.	 	THE LESSEE agrees and consents that it would have no objection to THE LESSOR mortgaging or creating a third party charge on the Demised Premises
subject to, however, that the creation of such mortgage / charge of the Demised
Premises shall not affect the rights of THE LESSEE to use the Demised Premises
during the lease period or any renewal thereof.
	 
	46.	 	THE LESSEE agrees and consents that it would have no objection for transfer either by way of sale, mortgage or in any other manner howsoever, of the
Demised Premises and/or the said Building, provided, the rights of THE LESSEE
in the Demised Premises remain unaffected vis-à-vis the transferee.

22

 

	47.	 	THE LESSEE agrees and commits that THE LESSOR shall have sole and absolute right to make additions, raise storeys or put up additional structures as may be permitted by
competent authorities and such additional structures and stories shall be the sole
property of THE LESSOR, which THE LESSOR will be entitled to dispose of in any way it
chooses without any interference on the part of THE LESSEE by itself or with one or more
of the rest of occupants of the said Building. Further all the terraces of the said
Building including the parapet walls of the terraces shall always be the property of THE
LESSOR and THE LESSOR shall be entitled to use the same for any purpose as it may deem
fit. However, the same shall not affect the peaceful operations of THE LESSEE from the
Demised Premises.
	 
	48.	 	That if during the term of the Lease Deed, the Demised Premises or any part thereof be
lawfully acquired or requisitioned by the Government or any local body or authority, local or
otherwise, THE LESSOR alone shall be entitled to any and all compensation payable and THE
LESSEE shall not raise any claim in respect thereof and THE LESSOR’s and THE LESSEE’s
obligations shall be as per such requisition notice.
	 
	49.	 	That if any provision of this Lease Deed shall be determined to be void or unenforceable
under applicable law such provisions shall be deemed amended or deleted to the extent
necessary to conform to applicable law and the remaining provisions of this Lease Deed shall
remain valid and enforceable.
	 
	50.	 	That THE LESSEE and THE LESSOR shall abide by the laws of the land and any and all local
enactments in respect of this Lease Deed of the Demised Premises. THE LESSOR may, with 24
hours intimation in writing to THE LESSEE, inspect the Demised Premises during the normal
working hours of THE LESSEE [except in case of emergency (ies)], from time to time at
frequencies considered necessary by THE LESSOR and should there be any violations,
contraventions as are observed by THE LESSOR, THE LESSEE will ensure compliance with the
requirements as per applicable laws. Any penalties levied by the Government, State, Municipal
Body etc. as a result of non-compliance by either Party will be borne by the defaulting party
in respect of the Demised Premises.
	 
	51.	 	That any notice, letter or communication to be made, served or communicated unto THE LESSOR
under these presents shall be in writing and shall be deemed to be duly made, served or
communicated only if the notice or letter or communication is addressed to THE LESSOR at the
address given below or such other addresses as may be intimated in writing by THE LESSOR in
this behalf and sent by registered post/fax or delivered personally with acknowledgement.
Similarly any notice letter or communication to THE LESSEE shall be deemed to be made, served
or communicated only if the same in writing is addressed to the below mentioned address of THE
LESSEE or to the address of the Demised Premises after THE LESSEE has shifted to the same, by
registered post/fax or

23

 

	 	 	delivered personally with acknowledgement. The communication is to be
addressed to the following:

     For lease related matters

	 	 	 
	For THE LESSOR
	 	For THE LESSEE
	Amit Grover
	 	M Hari Raju
	Vice President — Corporate Marketing
	 	Finance Director
	10th Floor, DLF Gateway Tower,
	 	3rd Floor My Home Tycoon
	‘R’ Block, DLF City Ph — III,
	 	Begumpet, Hyderabad (AP)
	Gurgaon — 122002
	 	Phone-040-23414200
	Phone 91-124-4057410
	 	Fax-040-23412310
	Fax 91-124-4057414
	 	 
	 
	 	 
	For
rent/maintenance invoices and related matters:

	 
	 	 
	For THE LESSOR
	 	For THE LESSEE
	Rishabh Khare
	 	Siva Kumar Lakshminarasimhan
	 
	 	 
	10th Floor, DLF Gateway Tower,
	 	Asst Manager Admin
	‘R’Block, DLF City Ph-III,
	 	‘The Lords’ , PlotNo l&2
	Gurgaon — 122002
	 	Thiru-Vi-Ka Industrial
	Estate
	 	 
	Phone 91-124-4057410
	 	Ekkattuthangal, Guindy
	Chn
	 	 
	Fax 91-124-4057414
	 	Ph No:044-52002700

This Annexure forms an integral part of the Lease Deed.

	 	 	 	 
	For and on behalf of 
 DLF Assets Private Limited	 	For and on behalf of 
 Virtusa Software Services Private Limited
	 	 
	/s/ A. C. Sachdev	 	 /s/ Sumit Chatterjee
	(A. C. Sachdev)	 	(Sumit Chatterjee)
	AUTHORISED SIGNATORY	 	AUTHORISED SIGNATORY

24

 

ANNEXURE II

Commercial Terms And Conditions forming integral part of Lease Deed dated                      between DLF
Assets Private Limited and Virtusa Software Services Private
Limited.

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Cross Reference
	 	 	 	 	 	 	(For convenience
	 	 	 	 	 	 	only)
	 	 	 	 	 	 	Reference Clause
	S.N	 	Item	 	Description	 	of
	 
	 	 	 	 	 	 
	a)

	 	Building
	 	DLF IT Park @ Chennai	 	 
	 
	 	 	 	 	 	 
	b)

	 	Floor and Block
	 	First Floor, Block 5
	 	1 of Lease Deed
	 
	 	 	 	 	 	 
	c)

	 	Aggregate super built up

area under this Lease Deed
	 	5576.136 Sq. Mtr.
	 	1 of Lease Deed
	 
	 	 	 	 	 	 
	 

	 	 	 	60,022 Sq. ft.
	 	1 of Lease Deed
	 
	 	 	 	 	 	 
	d)

	 	Number of car parks in
basement/surface/mechanical
car parking spaces free of
parking charges but on
payment of maintenance
charges. The service tax,
as applicable, shall be
additional.
	 	(Sixty Thousand and
Twenty Two) Square ft.)

60 (Sixty)
	 	13 of Lease Deed
& 35 of Annexure
-I
	 
	 	 	 	 	 	 
	 

	 	Additional Car Parking
Spaces at the rate of Rs.
3,000/- per car park per
month. The Service Tax as
applicable shall be
additional.	 	NIL	 	 
	 
	 	 	 	 	 	 
	 

	 	TOTAL
	 	60 (Sixty)	 	 
	 
	 	 	 	 	 	 
	e)

	 	Date of Possession
	 	1st July, 2008
	 	2 of Lease Deed
	 
	 	 	 	 	 	 
	f)

	 	Date of Lease Commencement
	 	1st July, 2008
	 	2 of Lease Deed
	 
	 	 	 	 	 	 
	g)

	 	Date of Rent Commencement
for Bare Shell Rentals
	 	15th
September, 2008
	 	2 of Lease Deed
	 
	 	 	 	 	 	 
	 

	 	 	 	However, the rent for
car parking	 	 

25

 

	 	 	 	 	 	 	 
	 

	 	 	 	spaces, if any,
shall commence
from Lease
Commencement Date
only.	 	 
	 
	 	 	 	 	 	 
	h)

	 	Initial lease
period from the
Date of Lease
Commencement
	 	The initial Lease
will be for a period
of 5 years with
THE
LESSEE having the
sole option to
renew the lease for
one term of 5
Years.
	 	15 of Lease Deed
	 
	 	 	 	 	 	 
	 

	 	 	 	In the event THE
LESSEE has not
obtained the unit
approvals for its
operations from
the Demised
Premises by the
original Lease
Commencement Date,
the lease
shall commence from
the date when
THE LESSEE obtains
such unit
approvals. However,
THE LESSEE
shall be liable to
pay compensation
equivalent to the
rentals, 50% of the
maintenance
charges including
service tax etc for
such intervening
period. In any
event, the rent &
security deposit
escalation shall be
in accordance with
the original
Lease
Commencement/
corresponding
escalation Dates
only.	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	All
incidental/out of
pocket
expenses with
respect to obtaining
SEZ unit approvals
by THE
LESSEE shall be
borne and paid
solely by THE LESSEE.	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	Both parties shall
comply with the
SEZ related rules
and procedures
and shall keep their
SEZ approvals
valid during the
entire lease tenure/renewed
lease tenure.	 	 
	 
	 	 	 	 	 	 
	i)

	 	Option to renew
Lease Deed for
further period
	 	The renewal shall be
at the sole
option of THE
LESSEE to be
exercised by giving
LESSOR 6
(six) months prior
notice in writing
before the end of
lease term of
Sixty (60) months
from the Date of
	 	14 of Lease Deed

26

 

	 	 	 	 	 	 	 
	 

	 	 	 	Lease Commencement for
another term of Sixty (60)
months.	 	 
	 
	 	 	 	 	 	 
	j)

	 	Rent Payable on super

builtup area for initial

lease period
	 	Rs. 42/- (Rupees Forty Two)
Per Sq. Ft. Per Month
amounting to Rs. 25,20,924/-
(Rupees Twenty Five Lakhs
Twenty Thousand Nine Hundred
and Twenty Four) per month.
	 	4 of Lease Deed
	 
	 	 	 	 	 	 
	k)

	 	Increase in rent,
Interest Free Security
Deposit & Car Parking
Charges for subsequent
period of Lease
	 	The rent and car parking
charges will be enhanced by
fixed 15% over the last paid
rent at the end of Thirty
Six (36) months, Seventy Two
(72) months and One Hundred
and Eight (108)
months respectively from the
date of Lease Commencement.
	 	10 & 14 of Lease Deed
	 
	 	 	 	 	 	 
	 

	 	 	 	The interest free security
will be enhanced to be
always equal to Ten (10)
months rent and shall
increase by 15% at the end
of the Thirty Six (36)
Months, Seventy Two (72)
months and One Hundred and
Eight (108) months
respectively from the date
of Lease Commencement.	 	 
	 
	 	 	 	 	 	 
	l)

	 	Car parking space charges
	 	One Parking space per 1000
sq.ft. of leased area will
be provided in
basements/surface/mechanical
car parking spaces free
of parking charges but
on payment of
maintenance charges.
	 	35 of Annex-I
	 
	 	 	 	 	 	 
	 

	 	 
	 	
Any additional car parking
spaces will be
provided in
basements/surface/mechanical
car parking spaces,
subject to
availability, on payment of
Rs. 3,000/- per car park per
month.
	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	Car park maintenance charges
for additional car parks
shall be included in the
overall maintenance charges.	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	The Service Tax as
applicable shall be
additional.	 	 

27

 

	 	 	 	 	 	 	 
	 

	 	 	 	For subsequent period of lease, the
amount shall stand increased by
such percent as mentioned in item
(k) above.	 	 
	 
	 	 	 	 	 	 
	m)

	 	Bulk Electricity Supply Deposit
for 360 KVA of Power Load.
	 	NIL
	 	29 of Annex-I
	 
	 	 	 	 	 	 
	 

	 	 	 	Any additional bulk electricity load
beyond above, required by THE
LESSEE shall be provided, subject
to availability and on payment of
non-refundable deposit of
Rs.10,000/- per KVA of power load
in addition to the refundable deposit
of Rs.3,000/- per KVA of power
load. However, any infrastructure
cost required for the same shall be
borne by THE LESSEE at Cost +
20% basis.	 	 
	 
	 	 	 	 	 	 
	n)

	 	Interest Free Refundable
Security Deposit always
equivalent to rent of Ten
(10) months at any
given point of lease.
	 	Rs. 2,52,09,240/- (Rupees Two
Crores Fifty Two Lakhs Nine
Thousand Two Hundred and Forty
only) for the initial period of lease.
	 	8, 9, 10 & 14 of
Lease Deed
	 
	 	 	 	 	 	 
	 

	 	 	 	For subsequent period of lease, the
amount shall stand increased by such
percent as mentioned in Clause (k)
above.	 	 
	 
	 	 	 	 	 	 
	 

	 	• Paid at the time of signing of MOU
	 	Interest free refundable security
deposit amounting to Rs.
75,30,642/- (Rupees Seventy Five
Lakhs Thirty Thousand Six Hundred and
Forty Two only)	 	 
	 
	 	 	 	 	 	 
	 

	 	• Paid on Signing of Addendum to the MOU
	 	Rs. 54,600/- (Rupees Fifty Four
Thousand and Six Hundred only).	 	 
	 
	 	 	 	 	 	 
	 

	 	• Paid towards initialing of this Lease Deed.
	 	Interest free refundable security
deposit amounting to Rs. 50,20,428/-
(Rupees Fifty Lakhs Twenty Thousand
Four Hundred and Twenty Eight only)	 	 
	 
	 	 	 	 	 	 
	 

	 	• Payable on signing of this Lease Deed.
	 	Interest free refundable security
deposit amounting to Rs.
1,26,03,570/- (Rupees One Crore	 	 

28

 

	 	 	 	 	 	 	 
	 

	 	 	 	Twenty Six Lakhs Three Thousand Five Hundred and Seventy only)	 	 
	 
	 	 	 	 	 	 
	o)

	 	Interest Free
Refundable
Maintenance Security
Deposit for normal
office hours i.e.
from 8.00 a.m. to
8.00 p.m. from Monday
to Friday and from
8.00 a.m. to 2.00
p.m. on Saturday
except Sundays and
Public Holidays or
for 24*7 operations.
	 	NIL	 	 
	 
	 	 	 	 	 	 
	 

	 	The above rates are
estimations as on
1st April
2006 and will depend
on the relevant rates
of petroleum
products, taxes,
wages & salaries
during the Lease
Tenure/ Renewed Lease
Tenure.	 	 	 	 
	 
	 	 	 	 	 	 
	p)

	 	Lock- in- period from
the Date of Lease
Commencement.
	 	Thirty Six (36) months
	 	3 & 14 of Lease Deed
	 
	 	 	 	 	 	 
	q)

	 	Notice period for
termination of Lease
Deed
	 	Six (6) months
	 	3 of Lease Deed

This
Annexure forms an integral part of the Lease Deed.

	 	 	 
	For and on behalf of

	 	For and on behalf of
	DLF Assets Private Limited

	 	Virtusa Software Service Private Limited
	 
	 	 
	/s/ A. C. Sachdev

	 	/s/ Sumit Chatterjee
	 

	 	 
	(A. C. Sachdev)

	 	(Sumit Chatterjee)
	AUTHORISED SIGNATORY

	 	AUTHORISED SIGNATORY

29

 

ANNEXURE III

SCHEDULE A — (Description of the Plot)

Item I

All those pieces and parcels of lands admeasuring a total area of 12.3808 hectares
comprised in

	 	 	 	 	 
	Sl. No.	 	Survey Number	 	Area in Hectares
	1.
	 	58/5	 	0.3650
	2.
	 	58/2B	 	0.3050
	3.
	 	58/2A	 	0.2550
	4.
	 	58/6B	 	0.3400
	5.
	 	57/14	 	0.1039
	6.
	 	58/6A	 	0.1100
	7.
	 	57/5C	 	0.0600
	8.
	 	57/2	 	0.3050
	9.
	 	57/7B	 	0.0037
	10.
	 	57/4	 	0.3350
	11.
	 	57/6	 	0.0290
	12.
	 	57/5A	 	0.0600
	13.
	 	57/5B	 	0.0600
	14.
	 	58/3	 	0.3400
	15.
	 	58/4	 	0.3450
	16.
	 	59/2	 	0.2350
	17.
	 	59/3A2A	 	0.0600
	18.
	 	61/3B	 	0.1050
	19.
	 	61/3C	 	0.0250
	20.
	 	55/6A1	 	0.6397
	21.
	 	59/3A3	 	0.4050
	22.
	 	59/3A4	 	0.4050
	23.
	 	59/3A2B	 	0.3168
	24.
	 	59/3A2C	 	0.9450
	25.
	 	57/15A	 	0.2450
	26.
	 	58/7B2	 	0.0300
	27.
	 	58/8	 	0.0960
	28.
	 	57/15B	 	0.4054
	29.
	 	58/7 A1	 	0.0600
	30.
	 	58/7B1	 	0.0300
	31.
	 	56/2B2	 	0.0850
	32.
	 	56/2C	 	0.3011
	33.
	 	59/3A1	 	0.4050
	34.
	 	58/9	 	0.0575
	35.
	 	59/1	 	0.0636
	36.
	 	59/3B	 	0.5271
	37.
	 	60/2	 	0.8950
	38.
	 	60/1A	 	0.0250
	39.
	 	60/1B	 	0.0150
	40.
	 	60/1D	 	0.5700
	41.
	 	60/1E	 	0.3150
	42.
	 	60/1F	 	0.3450
	43.
	 	58/7B2	 	0.0200
	44.
	 	58/8	 	0.0700
	45.
	 	58/9	 	0.0720
	46.
	 	58/10	 	0.0810
	47.
	 	59/1	 	0.4870
	48.
	 	59/3B	 	0.0600
	49.
	 	56/2C	 	0.1000
	50.
	 	56/2E	 	0.0280
	51.
	 	56/2F	 	0.0280
	52.
	 	56/2G	 	0.0490
	53.
	 	56/3	 	0.0210
	54.
	 	56/4	 	0.0320
	55.
	 	57/6	 	0.0120
	56.
	 	57/7B	 	0.0890
	57.
	 	57/10B	 	0.0890
	58.
	 	57/13	 	0.0400
	59.
	 	57/14	 	0.0740
	60.
	 	57/15A	 	0.3130
	61.
	 	57/15B	 	0.0890
	62.
	 	59/3A2B	 	0.0030

Mugalivakkam
Village, Sriperumbudur Taluk, Kancheepuram District, and
situated within the sub-registration district of Kunrathur, and registration
district of South Chennai.

Item II

All those pieces and parcels of lands admeasuring a total area of 4.35012
hectares comprised in Survey Nos.55 (0.07500 Hec), 57 (0.10445 Hec), 58/1
(3.38925 Heel, 58/2 (0.19538 Hec) and 58/3 (0.58604 Hec). Manapakkam Village,
Sriperumbudur Village, Kancheepuram District, and situated within the
sub-registration district of Joint-I, South Chennai and registration district
of South Chennai. 

Item I and Item II in all measuring 16.73092 hectares

Situated in DLF IT PARK @ Chennai, 1/124 Shivaji Gardens, Moonlight Stop,
Nandambakkam Post, Ramapuram, Mount-Poonamallee Road, Chennai 600 089

SCHEDULE
B

(Description of leased Premises)

60,022 sq.ft of super built up area on
1st Floor of Block 5 situated in the
Schedule A Property.

DLF IT Park @ Chennai is a
Special Economic Zone IT Park notified vide
official gazette numbers F- 2/124/2006 dated
16th November 2006 and F-2/124/2005
dated 14th February 2007 approved by
Ministry of Commerce.

30

 

ANNEXURE—IV

SUPER BUILT UP AREA CALCULATIONS

BLOCK— 5,OFFICE COMPLEX, MANAPAKKAM, CHENNAI

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	TOTAL SUPER	 
	 	 	OFFICE AREA	 	 	SUPER AREA	 	 	TERRACE AREA	 	 	BUILT UP AREA	 
	FLOOR/ OFFICE NO.	 	(SQM)	 	 	(SFT)	 	 	(SQM)	 	 	(SFT)	 	 	(SQM)	 	 	(SFT)	 	 	(SQM)	 	 	(SFT)	 
	FIRST/IF
	 	 	4460.909	 	 	 	48017	 	 	 	5576.136	 	 	 	60022	 	 	 	—	 	 	 	—	 	 	 	5576.136	 	 	 	60022	 
	TOTAL
	 	 	4460.909	 	 	 	48017	 	 	 	5576.136	 	 	 	60022	 	 	 	—	 	 	 	—	 	 	 	5576.136	 	 	 	60022	 

The Super
built up area shall be the sum of Office areas, the Common areas and useble
terrace(s) area attached to Office area, in the entire said building, i.e., Block-5. The
aforesaid areas are tentative and are subject to change, the final
Super built up areas
shall be confirmed by the DLF Assets Private Limited on the date of possession upon
completion of construction of above said building after accounting for changes, if any,
during construction.

Whereas the Office are on a floor shall mean the entire area enclosed by its periphery
walls including area under walls, wall cladding, columns, toilets, pantries, lift lobbies,
AHU, Electrical rooms, which form integral part of said office floor and the Common areas
shall mean all such parts / areas in said building which the M/s Virtusa Software Services
Private Limited / Occupants of one floor shall use by sharing with the Occupants of other
floors, including entrance canopy, corridors and passages, area of
cooling towers and
chillers, security / fire control room(s), lift shafts, all
electrical shafts. D.G.
shafts, A.C. shafts, pressurisation shafts, plumbing and fire shafts on all floors and rooms,
staircases, mumties, lift machine rooms, over head water tanks and services area on roof of
said building. In addition prorata share of common services area in the basement and on
surface of the said plot, including but not limited to electric substation, transformers,
D.G. set rooms, Underground water and other storage tanks, A.C. Plant room, Pump rooms,
Sewage treatment plant, maintenance and services rooms, far rooms, circulation areas etc.
shall be counted towards common area. Office area to Super area ratio shall be 80%.

Area of terrace(s), attached to Office area, if any, shall be counted 50% and added to
the total Super built up area. However, lessee shall not be allowed to cover such
terrace(s) and shall use same as open areas only and in no other manner whatsoever.

31

 

ANNEXURE—V

STATEMENT OF RENT, INTEREST FREE SECURITY DEPOSIT, INTEREST FREE MAINTENANCE SECURITY DEPOSIT & CAR
PARKING CHARGES PAYABLE BY THE LESSEE TO THE LESSOR DURING THE PERIOD OF THE LEASE AT DLF IT PARK @
CHENNAI.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	CAR PARKING
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	60 Nos. of	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	INTEREST	 	 	 	 	 	Car Parking	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	MONTHLY	 	FREE	 	 	 	 	 	free of	 	 
	 	 	 	 	 	 	 	 	 	 	Rent	 	RENT	 	SECURITY (IN	 	 	 	 	 	parking	 	0 Nos. of Car
	 	 	 	 	 	 	 	 	 	 	(Rs per	 	PAYMENT OF	 	RS)	 	 	 	 	 	charges but	 	Parking @
	 	 	 	 	 	 	 	 	 	 	sq.ft.	 	THE SUPER	 	EQUIVALENT	 	INTEREST	 	on payment	 	Rs. 3,000 per
	BEGINNING	 	ENDING	 	AREA	 	per	 	BUILT-UP	 	TO 10 MONTHS	 	FREE MAINTENANCE	 	of	 	Car Park per
	FROM	 	ON	 	(in Sq.ft.)	 	mth)	 	AREA (Rs.)	 	PREVAILING RENT	 	SECURITY	 	maintenance charges.	 	month
	01.07.2008
	 	 	30.06.2011	 	 	 	60,022	 	 	 	42.00	 	 	 	25,20,924.00	 	 	 	2,52,09,240.00	 	 	NIL	 	NIL	 	NA
	01.07.2011
	 	 	30.06.2014	 	 	 	60,022	 	 	 	48.30	 	 	 	28,99,062.60	 	 	 	2,89,90,626.00	 	 	NIL	 	NIL	 	NA
	01.07.2014
	 	 	30.06.2017	 	 	 	60,022	 	 	 	55.54	 	 	 	33,33,621.88	 	 	 	3,33,36,218.80	 	 	NIL	 	NIL	 	NA
	01.07.2017
	 	 	30.06.2018	 	 	 	60,022	 	 	 	63.87	 	 	 	38,33,605.14	 	 	 	3,83,36,051.40	 	 	NIL	 	NIL	 	NA

 

			
	NOTE:	 	All terms as per the Lease Deed shall be applicable.

32

 

ANNEXURE—VI

MONTHLY MAINTENANCE AND SERVICE EXPENDITURE (INDICATIVE)

	A.	 	The operating and maintenance services to be provided by THE LESSOR or its nominees/
assigns to THE LESSEE in the said Building and the expected monthly maintenance and service
expenditure shall be calculated at 1.20 times the sum total of the following expenditure
calculated on sq.ft. of super built — up area basis and shall be charged every month. The
expenditure shall include but shall not be limited to the following:
	 
	1.	 	Service contract expenditure including taxes & statutory levies as applicable, lease rentals
and other charges for operation and maintenance of all electro-mechanical equipments and all
equipment additionally installed by THE LESSOR / maintenance agency.
	 
	2.	 	Cost of water for all purposes.
	 
	3.	 	Cost of electricity for central air-conditioning and all services provided including in the
parking, common and external areas.
	 
	4.	 	Cost of maintenance of landscaped areas, compound wall, tube well, electrification sewerage,
roads and paths and any other services within the boundary of the said Plot.
	 
	5.	 	Cost of maintenance, cleaning, painting and necessary replacements of a revenue nature in
common areas including cost of maintenance of basements and common services therein.
	 
	6.	 	Cost of security services.
	 
	7.	 	Cost of administrative staff, maintenance staff of the said Building and the manager,
directly related to the maintenance of the said Building.
	 
	8.	 	Cost of all consumables for all services in common areas.
	 
	9.	 	Annual fees of various authorities.
	 
	10.	 	Cost of diesel and lubricants for DG sets.
	 
	11.	 	Cost of all replacements/refurnishings of parts.
	 
	12.	 	Cost of insurance of the said Building and fitouts when fitted out space is provided.
	 
	13.	 	Township maintenance charges till the services of the colony are handed over to a local
body or authority,
	 
	14.	 	Depreciation / sinking fund/lease rentals of all electro-mechanical equipments, including
but not limited to chillers, D.G. Sets and lifts.
	 
	15.	 	Maintenance Charges for Additional Car Parking Spaces

	 	B.	 	Cost of exclusive services, if any, provided to the occupant shall be additional.
	 
	 	C.	 	Service Tax, as applicable, shall be additional.

33

 

ANNEXURE—VII 

CAR PARKING SPACES EARMARKED FOR USE BY THE LESSEE

Number of car parking spaces earmarked in the basement/surface/mechanical car parking spaces for
use by Virtusa Software Services Private Limited

60 (Sixty) Numbers

34

 

ANNEXURE VIII

TENTATIVE
SPECIFICATIONS FOR COMMERCIAL BUILDINGS AT BLOCK 5,
DLF IT PARK@CHENNAI

	 	 	 
	STRUCTURE

	 	RCC framed structure
	 
	 	 
	Finishes
	 	 
	 
	 	 
	External Façade

	 	Combination of Clear Float Glass and/or
Reflective floats glass with Granite / Metal
Cladding / Exterior paint / any other.
	 
	 	 
	Atrium, Lift Lobbies
Floors & Walls.

	 	Combination of Indian marbles and / or granites.
	 
	 	 
	Main staircase(s) / Fire 

Escape staircase(s)

	 	Terrazzo / Kota Stone / Good concrete.
	 
	 	 
	Elevators

	 	High Speed Passenger Elevators. Service Elevator
	 
	 	 
	Parking

	 	Stilt/Surface/Basements
	 
	 	 
	Amenities

	 	Centrally Air Conditioned Building — Provision
for office area Air Conditioning provided upto
AHU on each floor. The internal distribution
system of Air Conditioning shall be sole
responsibility of the tenant.
	 
	 	 
	Power Back up

	 	100% power back-up including power back up for AC
system also.
	 
	 	 
	Fire Fighting

	 	Sprinkler and fire detection system will be
provided in the basement area and common area
only as per NBC. For fire fighting & sprinkler
services in Office area, provisions will be made
upto service shaft on each floor.
	 
	 	 
	Wash room

	 	Gents / Ladies Toilet on each floor as per
statutory norms, CI/GI piping will be provided,
but no CP fittings, Fixtures Wall / Floor
finishes. Door & shutters will be provided.
	 
	 	 
	Electricity/Telephone

	 	Provision on each floor up to the shaft
Connections have to be arranged by respective
owners/users. No Electric conduits or wiring
shall be provided in the slab.

NOTE:

	A.	 	Materials specially the imported ones are subject to availability as per
prevalent policies of Govt. of India.
	 
	B.	 	Larger floor heights provided are due to architectural reasons.
However, from the viewpoint of air conditioning load, the height of false
ceiling to be done by the Occupants shall not exceed 3 mtrs. from the finished
floor level.
	 
	C.	 	The above-mentioned specifications are for common area only. The office
area will be in “BARE SHELL” condition only i.e. cement flooring, no plaster on
concrete columns, walls or ceiling except on brick walls wherever provided. All
fittings, A.C.

35

 

Ducts, Electrical distribution and Fire Fighting etc. shall be the sole responsibility of the
Occupants.

	D.	 	Plumbing provision for extra toilets may be given at one / two different locations
	 
	E.	 	The above specifications are tentative and are subject to change at the sole discretion of
THE LESSOR.

36

 

ANNEXURE IX

Condition of the Demised Premises on Handover Date for Occupation At The Time of 

Hand Over For
Occupation

Completion
status of the Demised Premises to be achieved at the time of building operation date:

	 	1.	 	The Demised Premises shall be operational along with all services such as Air-conditioning, power back up, water supply to start operations.
	 
	 	2.	 	Passenger and service lifts to support THE LESSEE’s operations
	 
	 	3.	 	Cables of telephone service provider shall be terminated to the basement of the said
building. Service provider to discuss all other last mile connectivity issues with the
THE LESSEE’s IT team and THE LESSOR to provide all possible assistance for the
same.
	 
	 	4.	 	AHU’s, DG’s and chillers shall be operational for servicing the Demised Premises.

37

 

ANNEXURE
X

THE LESSEE’s Responsibility during interior fitouts work,

additions/modifications/alterations of interior works (referred hereinafter as interior

works) and during the Lease Tenure / Lease Renewal

THE LESSOR has provided the fire detection systems as elaborated in Part B. These systems are as
per NBC norm.

	A 	 	THE LESSEE will be responsible to ensure that:
	 
	1.	 	The existing sprinkler systems provided is not to be isolated or closed at any point of
time during interior works. For providing sprinklers below false ceiling a separate
network of sprinklers to be installed.
	 
	2.	 	THE LESSOR has provided the electrical tap-off in electrical room alongwith a sub-meter
installed. THE LESSEE to tap-off electricity through proper distribution panel
/ board properly earthed. The distribution of electricity inside the premises during the
interior works shall be responsibility of THE LESSEE.
	 
	3.	 	While doing any hot works, THE LESSEE is to ensure that adequate standby fire-fighting
mechanism in place, which includes fire extinguishers, sand buckets etc.
	 
	4.	 	Zonal fire detection panels are provided on all floors. THE LESSEE to ensure that at
any point of time there would be some smoke detectors spread over the Demised
Premises operational and connected to the Zonal panel.
	 
	5.	 	THE LESSEE to use fire retardant material in the design of their interior works.
	 
	6.	 	During interior works, THE LESSEE to ensure proper signages and fire escape routes
are prominently displayed inside their premises.
	 
	7.	 	THE LESSEE to ensure that the electro-mechanical systems installed in the Demised
Premises is properly maintained during their interior works and at the time of
operations. THE LESSEE to also ensure that no fire spreads from the premises.
	 
	8.	 	While designing of interior works, it should be kept in mind that the access to the fire
hydrants is not restricted in any way.
	 
	9.	 	For flushing of water closets only cisterns/concealed cisterns are to be used. No
flushing valves to be installed.
	 
	10.	 	During normal office hours, no noisy interior works such as drilling, hammering,
cutting, chisilling etc is to be carried out by THE LESSEE. The same can be done
after normal office hours. However, works other than the above can be carried on
which cause no disturbance to the occupied floors.

38

 

	11.	 	Security Guards professionally trained in fire fighting systems to be deployed on each
floor during all shifts round the clock. They should be capable of handling the fire-
fighting equipments provided on the floors such as fire hydrants etc.
	 
	12.	 	The entire building is a no smoking zone. THE LESSEE to ensure that even during
interior works no person smokes inside the building.
	 
	13.	 	No items of any nature to be stored in Electrical Control /
Panel Room. A stray
electrical spark may result in such items catching fire; moreover, presence of such
items may impede access to Control Panel in times of emergency.
	 
	14.	 	Please refrain from use of cooking gas in your pantries / kitchens.
	 
	15.	 	No Parking of CNG / LPG powered cars in basements as the chances of occurrence of
fire / explosion in such vehicles are very high.
	 
	16.	 	No storage of any material / records in basement, to enable free movement.
	 
	17.	 	THE LESSEE’s Security Personnel should not remain inside the offices after they
have been closed for the day. Unauthorised smoking by such staff can also contribute
to major fire. After closing hours, your Security be stationed outside the office (and
not within), and the interiors of the offices can be monitored by then over closed
circuit video cameras.
	 
	18.	 	Fire detection, alarm systems and fire fighting systems must not be closed or isolated
during the period when interior works are carried out or during the lease period or
lease renewal period.
	 
	19.	 	All outgoing feeders single phase & 3 phase in Panels & DBs outlets shall be suitable
of individual equipment rating and out going feeders must have a protection
arrangement so that it should trip in the event of overload, short
circuit & earth fault.
	 
	20.	 	All electrical installation shall be carried by authorised licensed contractor and client
shall submit installation test certificate issued by same contractor and certificate of
verification of these installations by a reputed electrical consultant.
	 
	21.	 	THE LESSEE to have the audit of their entire Electrical and HVAC systems done on
a yearly basis by a reputed Electrical and HVAC consultant and provide a certificate
certifying that all THE LESSEE’s installations are in good and safe working condition
and does not have any possibility of short circuit and becoming a fire source,
	 
	B 	 	The following fire-detection and alarm system are provided as per NBC norms inside the
premises:

Fire Detection & Alarm System:

	 	1.	 	Main control / Alarm panel located in security room connected with the
floor-wise zonal panel located near the staircase.
	 
	 	2.	 	The Smoke / Heat Detectors installed by the floor occupant
are connected to
the zonal panels located on the floors.

39

 

	 	3.	 	The main panel has inbuilt zone-wise fire detector and automatic alarm on all
floors, through an amplifier.
	 
	 	4.	 	All AHUs and other ventilation / pressurization systems are operationally
hooked-up with fire alarm / detection system.

Fire Fighting System

The following fire fighting systems are provided along with:

	 	•	 	Fire Pumps (Hydrants & sprinkler)
	 
	 	•	 	Jockey pumps
	 
	 	•	 	Diesel Driven engine pump
	 
	 	•	 	Fire Hydrants
	 
	 	•	 	Hose reels
	 
	 	•	 	Fire extinguishers in common areas
	 
	 	•	 	Sprinkler systems
	 
	 	•	 	Public address and Alarm System
	 
	 	•	 	Automatic / manual Fire Alarm system

The Fire Hydrant systems comprises of internal fire hydrant system available on all the floors and
the external hydrant system around the building.

Sprinkler system is provided in basement, Lift lobby and service area and office areas as per NBC
norms.

40

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