Document:

AMENDMENT TO LEASE

     THIS  AMENDMENT  TO LEASE  (this  "Amendment")  dated as of this 6th day of
August, 2003 (the "Execution Date"), is by and between TRI-VALLEY CAMPUS I, LLC,
as landlord ("Landlord"), and ADEPT TECHNOLOGY, INC., as tenant ("Tenant").

                                    RECITALS

         A. Landlord and Tenant entered into The Kontrabecki  Group Industrial -
R&D Lease,  including an addendum thereto (the "Addendum"),  dated September 18,
2000   (collectively,   the  "Lease"),   for  certain  premises   consisting  of
approximately  Two Hundred Nineteen  Thousand Eight Hundred  Eighteen  (219,818)
square feet of goss leasable area in various  buildings  commonly known as 3011,
3055 and 3077 Triad Drive in the City of Livermore,  County of Alameda, State of
California,   as  more  particularly  described  in  the  Lease  (the  "Original
Premises").  The Original  Premises were defined in the Lease as the "Premises."
Except as expressly set forth herein to the contrary, all capitalized terms used
in the  Amendment  shall have the same meanings as ascribed to such terms in the
Lease.

         B. The Original Premises consist of approximately Seventy Four Thousand
Seven Hundred  Sixty Eight  (74,768)  square feet of gross  leasable area in the
building at 3011 Triad Drive and  approximately  One Hundred Forty Five Thousand
Fifty (145,050)  square feet of gross leasable area in the buildings at 3055 and
3077 Triad Drive (the "Expansion Premises").

         C. Tenant has requested that Landlord  modify the Lease (and subject to
the terms and  conditions  contained  herein  Landlord  is willing to modify the
Lease) to,  among other  things,  (i) reduce the area  comprising  the  Original
Premises by eliminating  the Expansion  Premises from the area  comporising  the
Original Premises, (ii) permit Tenant to reduce the monthly installments of Rent
otherwise  required  to be paid by Tenant,  and (iii)  provide  for  Landlord to
forbear from taking  certain  actions  against Tenant  notwithstanding  Tenant's
prior breach of the Lease.

         D.  Landlord and Tenant now desire to modify and  supplement  the Lease
upon the terms, conditions and covenants hereinafter provided.

     NOW,  THEREFORE,  in consideration  of the terms,  conditions and covenants
contained in this  Amendment and other valuable  consideration,  the receipt and
adequacy of which is hereby  acknowledged,  Landlord and Tenant  hereby agree to
amend the Lease as follows:

                                    AGREEMENT

     1.  Acknowledgments  by Tenant.  Tenant advises Landlord that no default or
event that with the passage of time, the giving of notice,  or both,  that would
constitute a default or breach by Tenant has occurred and is  continuing  except
as  disclosed  on Exhibit "A" to this  Amendment  (collectively,  the  "Existing
Defaults").  Tenant  acknowledges  that,  as  result of the  Existing  Defaults,
Landlord has the right to terminate  the Lease and to recover  possession of the

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Original  Premises and damages for Tenant's  breach in accordance with Paragraph
16 of the  Lease.  Tenant  further  acknowledges  that  by  entering  into  this
Amendment,  Tenant will receive substantial  benefits,  including the following:
(a)  Tenant  desires to retain a portion of the space  comprising  the  Original
Premises  but does not require  all such space and will be allowed to  surrender
such excess  space to Landlord,  (b) if Tenant  timely makes each of the Minimum
Monthly Payments (as defined in Paragraph  4(a)(i) below) on or before the first
(1st) day of each calendar  month during the remainder of the term of the Lease,
Landlord  will  forbear  from  requiring  Tenant's  satisfaction  of the Accrued
Obligations (as defined in Paragraph 4(a)(ii) below), and (c) but for Landlord's
agreements  in this  Amendment,  Tenant  would be subject  to damages  and other
remedies  as a result of the  Existing  Defaults  and for failing to satisfy the
Accrued Obligations as and when due.

     2.  Surrender of Expansion  Premises.  On the Effective Date (as defined in
Paragraph  12),  Tenant shall  surrender to Landlord the  Expansion  Premises in
accordance  with the terms  set  forth in  Paragraph  26 of the  Lease,  and the
parties shall have no further  rights or  obligations to each other with respect
to the Expansion  Premises,  provided that any Rent  (including  Base Rent, Real
Property  Taxes and Direct  Operating  Expenses)  that  otherwise  would  become
payable by Tenant with respect to the  Expansion  Premises  shall be included in
the Accrued  Obligations.  Landlord  shall have the right to relet the Expansion
Space on terms and conditions as Landlord may determine in its sole discretion.

     3. Term. As of the Effective  Date, the Expiration  Date (as defined in the
Lease) of the term of the Lease shall be May 31, 2011,  unless sooner terminated
pursuant to the terms of the Lease and this Amendment.

     4. Minimum Monthly Payment; Forbearance; Deposit; Promissory Note.

          (a) Definitions.

            (i) Minimum Monthly  Payment.  As used in this  Amendment,  the term
"Minimum Monthly Payment" means the sum of the following (A) Eighty Two Thousand
Two Hundred Forty Four and 80/100 Dollars  ($82,244.80)  per month (the "Minimum
Base Monthly  Payment") plus (B) Thirty Three and 88/100 Percent (33.88%) of the
Real Property Taxes and Direct Operating Expenses for the Property (the "Minimum
Additional  Rent").  Until such time as Landlord  provides Tenant with notice of
any change, the Minimum Additional Rent is estimated to be Twenty Seven Thousand
Dollars  ($27,000.00)  per month.  The Minimum  Base  Monthly  Payment  shall be
adjusted once each year, effective as of June 1 of each year to and amount equal
to the  greater of (i) one  hundred  four  percent  (104%) of the  Minimum  Base
Monthly Payment payable during the immediately preceding month and (ii) the fair
market  value for the 74,768 gross  leasable  square feet space  comprising  the
Premises (the "Fair Market Value"), as determines below.  Landlord shall provide
Tenant with notice of the Fair Market Value (the "Notice") on or before May 1 of
each year to be effective  June 1 of each year. If Landlord fails to deliver the
Notice on or before May 1 of any year,  beginning on June 1, Tenant  nonetheless
shall pay to  Landlord  One Hundred  Four  Percent  (104%) of the  Minimum  Base
Monthly  Payment for the previous year until such time as Landlord  delivers the
Notice to Tenant,  at which time  Tenant  shall  begin to pay the  Minimum  Base
Monthly Payment at the Fair Market

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Value and  immediately  pay Landlord the amount by which the monthly Fair Market
Value  exceeds the Minimum  Base  Monthly  Payment paid by Tenant for the period
from June 1 until the date on which Landlord provides Tenant with the Notice. If
Tenant disagrees with Landlord's  determination  of the Fair Market Value,  then
Tenant shall provide Landlord with written objection to Landlord's determination
within  seven (7) days after  Tenant  receives  the Notice.  If Tenant  fails to
provide a written  objection  within the seven (7) day period,  then  Landlord's
determination  shall be used as the Fair Market Value. If Tenant timely provides
Landlord  with a  written  objection,  then  the  Fair  Market  Value  shall  be
determined  in  accordance  with the  appraisal  process set forth in the second
paragraph of Paragraph 1.2 of the Addendum,  provided, however, that in no event
shall the Minimum  Base  Monthly  Payment be less than One Hundred  Four Percent
(104%) of the Minimum  Base Monthly  Payment  payable for the last full month of
the immediately preceding year.

            (ii)  Accrued  Obligations.  As  used in this  Amendment,  the  term
"Accrued  Obligations"  shall mean the sum of the  following:  (A) the Base Rent
obligations  of  Tenant  under  the Lease  from and  after  the  Execution  Date
attributable  to the entire Original  Premises,  plus (B) Tenant's Share of Real
Property Taxes and Direct Operating  Expenses for the entire Original  Premises,
plus (C) four percent  (4.0%)  annual  increases of the amount  specified in the
preceding  clause  (A),  plus (D) the amount by which the Deposit (as defined in
Paragraph  3(c)  below),  plus (E) interest on the unpaid  amounts  specified in
clauses (A), (B), (C) and (D)  outstanding  from time to time at a rate equal to
six percent (6.0%),  compounded on a monthly basis, calculated on the basis of a
three  hundred sixty (360) day year.  Provided  Tenant makes each of the Minimum
Monthly  Payments  when due,  from and after the  Execution  Date,  the  Accrued
Obligations  for the first year  following the Execution Date shall accrue at an
amount equal to  approximately  Three Hundred  Eighteen  Thousand  Seven Hundred
Thirty  Six  and  00/100  Dollars  ($318,736.00)  per  month  (which  amount  is
calculated as the monthly Base Rent) plus Tenant's  Share of Real Property Taxes
and Direct  Operating  Operating  Expenses  attributable  to the entire Original
Premises minus the Minimum Monthly Payment.

          (b) Payments by Tenant:  Forbearance  by Landlord.  From and after the
Effective Date, Tenant shall pay to Landlord the Minimum Monthly Payment,  on or
before the first (1st) day of each calendar  month during the term of the Lease,
without  deduction  or offset any kind.  Provided  that  Tenant  timely pays the
Minimum  Monthly Payment on or before the first (1st) day of each calendar month
during the term of the  Lease,  Landlord  temporarily  and  conditionally  shall
forbear from requiring  payment of the Accrued  Obligations that would otherwise
be required to be  satisfied  or paid under the Lease.  The Accrued  Obligations
shall  accrue but shall not be required to be paid unless and until Tenant fails
to pay the  Minimum  Monthly  Payment as and when  required,  at which time such
amount shall be due and payable in full without  notice or demand.  Furthermore,
if Tenant pays all installments of the Minimum Monthly Payment, then starting on
the first day of the month that is thirteen (13) full calendar  months after the
Effective Date, and on the first day of each month thereafter during the balance
of the term of the  Lease,  Landlord  shall  waive any right that it may have to
require the  satisfaction or payment of the Accrued  Obligations  that relate to
any period that is more than twelve (12) full months prior to such date.  By way
of example,  if the first  installment of the Minimum Monthly Payment is paid on
July 1, 2003, and if Tenant makes all payments thereafter

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due through and  including  July 31, 2004,  then on August 1, 2004,  the Accrued
Obligations  attributable  to the  month  of  July 1,  2003,  shall  be  waived.
Thereafter,  so long as Tenant  continues  to make all  payments  of the Minimum
Monthly Payment required hereby,  as of the first day of each month after August
1, 2004, the Accrued  Obligations  that are attributable to any period more than
twelve (12) full months prior to the month that the Accrued Obligations then due
are to be satisfied  or paid by Tenant  shall be waived.  If Tenant fails to pay
Minimum  Monthly  Payment  when  due  in  any  given  month,  then  the  Accrued
Obligations  that have not  previously  been waived  shall be due and payable in
full.

          (c) Security  Deposit.  From and after the  Execution  Date,  Tenant's
authorizes  Landlord  to apply the Deposit (as defined in the Lease) to defray a
portion of the unpaid Base Rent and Tenant's  Share of Real  Property  Taxes and
Direct Operating  Expenses  attributable to the Original Premises for the period
prior to the Execution Date (collectively,  "Delinquent Obligations").  Landlord
and Tenant acknowledge and agree that the Delinquent Obligations attributable to
the  period  prior to the  Effective  Date  exceed  the  amount of the  Deposit.
Notwithstanding any provision of the Lease to the contrary,  effective as of the
date that is one  hundred  thirty-five  (135)  days  after the  Execution  Date,
provided no default has  occurred by Tenant  under the Lease or this  Amendment,
Tenant shall have no obligation to replenish the Deposit.

     5. No Option to Extend or Right of First Negotiation to Purchase. As of the
Effective  Date and  notwithstanding  Paragraphs  1 and 3 of the Addendum or any
other term, condition or covenant of the Lease to the contrary, Tenant shall not
have an  option to  extend  the term of the  Lease or a right of first  offer or
refusal to purchase the Building, and the provisions of Paragraph 1 and 3 of the
Addendum shall be deemed  deleted  except to the extent that  Paragraph  4(a)(i)
above  incorporates  the appraisal  process set forth in the second Paragraph of
1.2 of the Addendum for determining the Fair Market Value.

     6. Convertible Promissory Note. As additional  consideration for Landlord's
execution of this  Amendment,  Tenant shall  execute and deliver to Landlord  an
unsecured  convertible  promissory note (the "Note") in the face amount equal to
Three  Million  and  00/100  Dollars  ($3,000,000.00).  The  Note  shall  (a) be
convertible  into  capital  stock of Tenant at a price of One and 00/100  Dollar
($1.00) per share, subject to certain adjustments in the event of a stock split,
stock  dividend  or  similar  change in  outstanding  stock or if any of Adept's
stockholder  exercise their redemption rights with respect to Adept's stock, (b)
bear  interest  at six percent  (6%) per annum,  (c) mature on the date which is
three (3) years from the date that the Note is executed, and (d) otherwise be in
the form of Exhibit "B" attached hereto.

     7.  Relocation of Tenant.  At any time after the Effective  Date,  Landlord
shall have the right to require that Tenant vacate the Premises  during the term
of the Lease, in which event Landlord shall relocate Tenant to another  facility
in the "South  Bay Area" or the "East Bay Area" of  California  (defined  as the
region bounded on the south by the City of San Jose, on the north by the City of
Oakland and on the east by the City of Livermore),  provided,  however, Landlord
shall: (a) provided Tenant with reasonable advance notice of the relocation, (b)
provide Tenant with reasonably comparable facility,  (c) pay for Tenant's actual
moving costs and  reasonable

                                      -4-
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tenant  improvements  to the new  facility,  and (d)  relocate  Tenant only once
during the term of the Lease

     8.  Representations  and Warranties by Tenant. In order  to induce Landlord
to execute and deliver this Amendment,  Tenant hereby represents and warrants to
Landlord as  follows,  each of which shall  survive the  Execution  Date and the
Effective Date:

          (a)  Truth  of  Recitals  Statements.  Each  statement  made  in  this
Amendment  including  the  recitals  and each of the other  acknowledgments  and
representations of Tenant herein are true and correct.

          (b) Authority;  No Additional Consent Required.  Tenant has the right,
power and authority to execute,  deliver and perform its obligations  under this
Amendment.  Each of the persons  signing this  Amendment on behalf of Tenant has
full power and authority to do so. The  execution,  delivery and  performance of
this Amendment has been duly  authorized by any necessary  action on the part of
Tenant.

          (c) Validity of Lease. The Lease is a valid and binding  obligation of
Tenant and is legally  enforceable against Tenant in accordance with its express
terms.

          (d) No Event of Default.  Other than the Existing Defaults, no breach,
default  or  defined  event of  default  (and no event  which upon the giving of
notice, the passage of time or both would constitute a breach,  default or event
of default)  presently exists under the Lease.  Landlord has fully performed and
observed  all the  obligations  of  Landlord  under the Lease and  Tenant has no
claims of any kind against Landlord or its employees, agents or representatives.

          (e) Compliance.  To the best of Tenant's  knowledge and belief,  after
due  inquiry  and  investigation,  Tenant has not  violated  any  statute,  law,
ordinance  or  regulation  (including  environmental  laws) of any  governmental
entity or any judgment, decree or order of any court

          (f)  Reaffirmation of Prior  Representations.  Tenant hereby reaffirms
and makes as of the Effective Date each of the  representations,  warranties and
covenants  set forth in the  Lease,  which  shall  survive  any  investigations,
inspections or inquiries made by Landlord or any of its representatives,  except
as expressly modified herein.

          (g)  Solvency.  Tenant  has  not  been  insolvent  (as  defined  under
Subdivision (32) of Section 1 of Title 11 of the United States Code) at any time
since  inception of the Lease through and including the Execution  Date,  Tenant
will not be rendered insolvent by virtue of the Deposit being released by Tenant
to Landlord under Paragraph 4(c) of this  Amendment,  Tenant does not anticipate
being insolvent (as so defined),  if ever, for at least one hundred  thirty-five
(135) days after the Execution  Date, and Tenant,  as of the Execution Date, has
and after the release of the Deposit shall continue to have sufficient assets to
pay all  current and all  foreseeable  obligations.  Tenant does not  anticipate
filing a petition for or having a petition  involuntarily  filed against  Tenant
for any type of  bankruptcy  proceeding  or  action  at any time in the next one
hundred thirty-five (135) days immediately following the Execution Date.

                                      -5-
<PAGE>

          (h)  Deposit.  Landlord is entitled to apply the Deposit to defray the
Delinquent Obligations of Tenant under the Lease.

          (i) Financial Statements. All financial statements delivered by Tenant
to  Landlord  on or prior to the date of this  Amendment  relating  to  Tenant's
financial  condition  were  and are  true  and  correct  as of the  date of such
statements.

          (j) Subleases. Tenant has not assigned or subleased all or any portion
of the Premises.

     9. Release of Claims. As of the Effective Date,  Tenant releases  Landlord,
and its present and former members, agents, attorneys, employees,  predecessors,
successors,  and assigns (collectively,  the "Landlord Parties") of and form any
and all claims, demands,  damages,  liabilities,  losses, costs, and expenses of
every kind and nature  whatsoever,  whether now known or unknown,  suspected  or
unsuspected  which it now has, owns or holds or at any time heretofore ever had,
owned or held or could, shall or may hereafter have, own or hold against any and
all of  Landlord  Parties  based upon any matter,  cause,  fact,  thing,  act or
omission  occurring or existing at any time through and  including the Effective
Date arising out of, in connection  with, or relating to the Lease and any other
agreements between Landlord and Tenant (the "Released Matters").

It is the  intention  of the  parties  in  executing  this  Amendment  that this
Amendment  shall be  effective  as a general  release  of and from all  Released
Matters. In furtherance of the intentions set forth herein,  Tenant acknowledges
that it is  familiar  with  Section  1542 of the  Civil  Code  of the  State  of
California which provides as follows:

     "A GENERAL  RELEASE DOES NOT EXTEND TO CLAIMS  WHICH THE CREDITOR  DOES NOT
     KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE,
     WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE
     DEBTOR."

Tenant, with respect to the Released Matters, hereby waives and relinquishes any
right or benefit  which it has or may have under  Section 1542 of the Civil Code
of the  State  of  California  or any  similar  provision  of the  statutory  or
nonstatutory  law of any  other  jurisdiction,  to the full  extent  that it may
lawfully waive all such rights and benefits.

     10.  Events of Default.  Paragraphs  16.1 (a) and (b) of the Lease shall be
deleted in their entirety and replaced with the following:

          "(a) The  failure  by  Tenant to make any payment  of Base Rent or any
other payment required to be made by Tenant hereunder, as and when due, and such
failure  shall not have been cured within three (3) days after a written  notice
thereof from Landlord;

          (b) Tenant's failure to perform any other term,  covenant or condition
contained in the Lease and such failure  shall have  continued for five (5) days
after written notice of

                                       -6-
<PAGE>
such failure is given to Tenant."

     11.  Brokers.  Landlord and Tenant each  represent and warrant to the other
that they have had no dealings with any real estate  broker,  agent or finder in
connection  with the  negotiation  or  execution of this  Amendment.  Each party
hereto  shall  indemnify  and hold  harmless  the other  party from any  claims,
including  reasonable  attorney's fees,  by a broker,  agent or  finder  for any
leasing  commission  which  may be  claimed  as a result of the  actions  of the
indemnifying party.

     12.  Conditions   Precedent  to  Effectiveness  of  Admendment.  Landlord's
obligations  under  this  Amendment  are  subject  to the  following  conditions
precedent,  each of which is for the sole  benefit  of  Landlord:

         (a) Truth of Representations. Each of the representations,  warranties,
acknowledgments and statements of fact in this Amendment, including those in the
recitals, schedules and exhibits hereto, shall be true, correct and complete.

          (b) No Default.  Other than the Existing Defaults, no default or event
of default shall have  occurred  under the Lease or would exist after the giving
of notice, the passage of time or both.

          (c)  Financial  Condition.  There shall have been no material  adverse
change in the financial  condition of any Tenant from and after the execution of
this Amendment.

          (d) Lender  Approval.  Landlord shall have obtained written consent to
this Amendment from its lenders, Fremont Bank and Lehman Brothers.

          (e) Tenant  Financing.  Tenant shall have entered into agreements with
Silicon  Valley  Bank  ("SVB")  pursuant to which  Tenant  shall have the right,
subject  to terms and  conditions  required  by SVB,  to borrow  under a working
capital line of credit not less than One Million Five  Hundred  Thousand  Dollar
($1,500,000.00).

          (f) Surrender.  Tenant shall have vacated and  surrendered to Landlord
the Expansion Premises in the condition required by Paragraph 26 of the Lease.

          (g)  Convertible  Note.  Tenant shall have  executed and delivered the
Note.

Tenant  shall  use its best  faith  efforts  to  satisfy  each of the  foregoing
conditions  (other than the condition  referred to in Paragraph 12(d),  which is
not under its control).  If for any reason any of the foregoing  conditions  are
not  satisfied  or waived in writing  by  Landlord  on or before  August 7, 2003
(unless such date is extended in Landlord's sole and absolute  discretion), then
this  Amendment  shall be null and void and both  parties  shall be  relieved of
their obligations  hereunder and the Lease shall remain in full force and effect
without  giving  effect  to this  Amendment.  The date  upon  which  each of the
conditions precedent set forth above have been satisfied or waived in writing by
Landlord is referred to herein as the "Effective Date".

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<PAGE>

     13. No Additional  Obligations  of Landlord.  Except as expressly set forth
herein,  Landlord has no obligation to Tenant to extend the terms of the payment
of any  rent or other  indebtedness  owing to  Landlord,  to amend or waive  any
provisions  of the Lease,  or to  otherwise  alter any of  Landlord's  security,
rights or remedies,  except as set forth herein. Tenant acknowledges that it has
been informed by Landlord that Landlord shall be entitled to exercise all of its
rights and  remedies  under the Lease to the maximum  extent  possible  upon the
occurrence of an event of default (other than Exisiting Default).

     14. No Claims.  Tenant acknowledges and agrees that: (a) it has no claim or
cause of action against Landlord arising from or in connection with the Lease or
otherwise;  (b) it has no offset or defense  against  rent or other  obligations
owing to Landlord;  and (c)  Landlord  has  heretofore  properly  performed  and
satisfied  in a timely  manner  all of its  obligations  to and  contracts  with
Tenant.

     15. Effect Of This  Amendment.  Except as expressly  modified  herein,  the
Lease shall remain effective  according to their terms and is hereby  reaffirmed
and  ratified  and  Tenant  shall  comply  with all of the terms and  conditions
thereof.

     16.  Relationship  of Landlord and Tenant.  Landlord and Tenant intend that
the relationship between them shall be solely that of landlord and tenant.

     17. General Conditions.

          (a) No Waiver.  No delay or omission of  Landlord  in  exercising  any
right or power arising from any default by Tenant shall be construed as a waiver
of such default or as an acquiescence  therein,  nor shall any single or partial
exercise  thereof preclude any further  exercise  thereof.  Landlord may, at its
option,  waive any of the  conditions  herein and any such  waiver  shall not he
deemed a waiver of Landlord's rights  hereunder but shall be deemed to have been
made in pursuance of this Amendment and not in modification  thereof.  No waiver
of any event of default shall be construed to be a waiver of or  acquiescence in
or consent to any preceding or subsequent event of default.

          (b) No  Third  Party  Benefits.  This  Amendment  is made for the sole
benefit of Tenant and Landlord, their successors and assigns and no other person
or  persons  shall  have any  rights  or  remedies  under or by  reason  of this
Amendment.

          (c)  Documentation.  In  addition  to the  instruments  and  documents
mentioned  or referred to herein,  Tenant  shall,  at its own cost and  expense,
supply Landlord with such other instruments,  documents, information and data as
may, in Landlord's opinion, be reasonably necessary for the purposes hereof, all
of which shall be in form and content acceptable to Landlord.

          (d) Couse of Dealing;  Waivers. No failure or delay by Landlord or its
officers,  employees  or agents in the  exercise of any right under the Lease or
this  Amendment  shall  operate as a waiver  thereof,  and any single or partial
exercise of any such right  shall not  preclude  any later  exercise of any such
right. Landlord's failure at any time to require strict

                                       -8-
<PAGE>

performance  by Tenant of any provision of this  Amendment  shall not thereafter
affect any right under this  Amendment of Landlord to demand  strict  compliance
and  performance.  Any suspension or waiver of a right under this Amendment must
be in writing signed by an officer of Landlord.

          (e) Headings.  The headings used herein are for the convenience of the
parties only and shall not be used to interpret the terms of this Amendment.

          (f) Attorney's  Fees. If any action or proceeding at law or in equity,
or an arbitration proceeding (collectively an "action"),  shall be brought under
this Amendment for or on account of any breach of or to enforce or interpret any
of the terms, covenants,  or conditions of this Amendment,  the prevailing party
shall be entitled to recover from the other party its reasonable attorneys' fees
and costs and expenses incurred in connection with the prosecution or defense of
such action or the settlement of such controversy.

          (g) Waiver of Jury Trial.  LANDLORD  ANY TENANT EACH  ACKNOWLEDGE  AND
AGREE THAT ANY  CONTROVERSY  WHICH MAY ARISE UNDER THIS  AMENDMENT  OR THE LEASE
WOULD BE BASED UPON  DIFFICULT AND COMPLEX  ISSUES,  AND  THEREFORE,  TENANT AND
LANDLORD  EACH  HEREBY  WAIVE  ANY  RIGHT  TO A TRIAL BY JURY IN ANY  ACTION  OR
PROCEEDING  (INCLUDING ACTIONS SOUNDING IN TORT) TO ENFORCE OR DEFEND ANY RIGHTS
UNDER  THIS  AMENDMENT  OR  THE  LEASE  RELATING  HERETO  OR  ARISING  FROM  THE
TRANSACTION  CONTEMPLATED HEREUNDER OR LANDLORD/TENANT  RELATIONSHIP BETWEEN THE
PARTIES AND AGREE THAT ANY SUCH ACTION OR  PROCEEDING  SHALL BE TRIED IN A COURT
OF COMPETENT JURISDICTION BY A JUDGE AND NOT BY A JURY.

          (h)  Counterparts.  This  Amendment  may be  executed in any number of
counterparts,  each of which shall be deemed to be an original  and all of which
taken together shall be deemed one and the same instrument.

          (i) Severabiltiy.  If any provision of this Amendment or the documents
executed in connection  herewith  conflicts with  applicable law, such provision
shalt be deemed  severed  from  this  Amendment  or the  documents  executed  in
connection herewith, as the case may be, and the balance thereof shall remain in
full force and effect.

          (j)  Advice of  Counsel.  Tenant  acknowledges  that it has sought the
advice of, and has been advised by, legal  counsel of its choice,  in connection
with the  negotiation of this Amendment,  and that Tenant has willingly  entered
into  this  Amendment  with  full  understanding  of  the  legal  and  financial
consequences of this Amendment.

                                       -9-
<PAGE>

        IN WITNESS WHEREOF, Landlord and Tenant have caused this Amendment to be
executed as of the Execution Date.

"LANDLORD"                                    "TENANT"
TRI-VALLEY CAMPUS I, LLC                      ADEPT TECHNOLOGY, INC.

By: /s/ John T. Kontrabecki                   By: /s/ Brian R. Carlisle
   ------------------------------                ------------------------------
Print Name: John T. Kontrabecki               Print Name: Brian R. Carlisle
            ---------------------                        ----------------------
Its: Managing Member                          Its: President
    -----------------------------

                                              By: /s/ Michael W. Overby
                                                 ------------------------------
                                              Print Name: Michael W. Overby
                                                         ----------------------
                                              Its: Vice President

                                      -10-
<PAGE>

                                   EXHIBIT A

                               EXISTING DEFAULTS

Month                  Rent               Triple Net Expense   Total
-----                  ----               ------------------   -----
February 2003          331,485            77,501               408,986
March    2003          331,485            77,501               408,988
Apr11    2003          331,485            77,501               408,986
May      2003          331,485            77,501               408,986
                       -------            ------               -------

Total                  $1,325,940         $310,004             $1,635,944

                                      -11-
<PAGE>

                                   Exhibit B

                          CONVERTIBLE SUBORDINATED NOTE

$3,000,000                                                          July  , 2003

     FOR VALUE RECEIVED, the undersigned,  ADEPT TECHNOLOGY,  INC. ("Borrower"),
hereby  promises to pay to TRI-VALLEY  CAMPUS I, LLC ("Lender"),  or order,  the
principal  sum  or so  much  of  the  principal  sum of  Three  Million  Dollars
($3,000,000) as remains unpaid together with accrued interest as provided herein
on the Maturity Date.

A    Interest. Interest shall accrue on all obligations hereunder at a per annum
     rate  equal to six  percent (6.0%).  Interest  payable  hereunder  shall be
     calculated  on the basis of a three hundred sixty (360) day year for actual
     days  elapsed.   All  accrued  interest  shall  be due and  payable  on the
     Maturity Date.  Notwithstanding the foregoing,  the principal sum hereunder
     shall  bear  interest,  from  and  after  the  occurrence  and  during  the
     continuance of an Event of Default,  at a rate equal to five (5) percentage
     points  above  the  interest  rate  applicable  immediately  prior  to  the
     occurrence of the Event of Default. In no event, however, will the interest
     rate  payable  hereunder  exceed  the  maximum  interest  rate  allowed  by
     applicable  usury  and  other  laws  (the  "Maximum  Legal  Rate")  and the
     Borrower's  obligations under this Note will be reduced if necessary to not
     exceed the Maximum Legal Rate.

B    Payment.

     a.   Principal  Payments.  On the Maturity Date, all outstanding  principal
          and all accrued and unpaid  interest shall become  immediately due and
          payable.

     b.   Prepayment. Borrower shall have the right to prepay all or any portion
          of the amounts outstanding under this Note at the rates stated herein,
          upon providing fifteen business days notice of its intention to repay,
          indicating  the amount of such  prepayment.  Upon  notice Lender would
          have the  right to  convert  this  note  during  such  five  days from
          delivery of notice of Borrower's intention to repay.

     c.   Form of Payment.  Except as otherwise  provided herein,  principal and
          interest and all other  amounts due hereunder are to be paid in lawful
          money of the United States of America in federal or other  immediately
          available funds.

C    Events of Default; Remedies.

     a.   Definition of Event of Default.  The  occurrence of any one or more of
          the following events shall constitute an "Event of Default" hereunder:
<PAGE>

          i.   Payment  Default.  Borrower's breach of the obligation to pay the
               principal  outstanding  and/or interest accrued  hereunder on the
               applicable due date.

          ii.  Bankruptcy. If Borrower becomes insolvent or the  institution  by
               Borrower of an Insolvency  Proceeding or the institution  against
               Borrower of an Insolvency Proceeding;

          iii. Material  Adverse  Change.  If there  occurs a  material  adverse
               effect  on  the  business  operations,  condition  (financial  or
               otherwise) or prospects of Borrower or the ability of Borrower to
               repay or otherwise perform its obligations under this Note.

          iv.  Cross-Acceleration.  The  occurrence of any default or failure to
               perform under any agreements entered into by Borrower  subsequent
               to the date of this note that constitute  material  agreements of
               the  Borrower,  to  which  Borrower  is a party or by which it is
               bound  resulting  in  a  right  by  Lender,   including   without
               limitation  that certain  Lease,  dated  September  18, 2000,  as
               amended,  between  Lender and Borrower,  for premises  located in
               Livermore,  California,  whether or not exercised,  to accelerate
               the maturity of any  indebtedness in an amount in excess of Fifty
               Thousand Dollars ($50,000).  Notwithstanding the foregoing,  such
               default  shall not  constitute  a default  for  purposes  of this
               agreement  if such  default or  failure  to perform is  corrected
               within ten (10)  business  days after  notice of such  default is
               delivered by Lender.

          v.   Change in Control.  If a transaction occurs in which any "person"
               or "group"  (within the meaning of Section  13(d) and 14(d)(2) of
               the Exchange Act) becomes the  "beneficial  owner" (as defined in
               Rule 13d-3 under the Exchange Act), directly or indirectly,  of a
               sufficient  number  of  shares  of  all  classes  of  stock  then
               outstanding  of  Borrower  ordinarily  entitled  to  vote  in the
               election of  directors,  empowering  such  "person" or "group" to
               elect a majority of the Board of Directors  of Borrower,  who did
               not have such power before such transaction.  In any event Lender
               will not unreasonably withhold approval.

          vi.  Remedies.  Upon  the  occurrence  of an Event  of  Default,  upon
               delivery of notice to  Borrower  of the Event of Default,  Lender
               may accelerate payment of the principal  outstanding and interest
               accrued hereunder,  declare all such amounts  immediately due and
               payable, and may exercise all rights and remedies granted by law.
               Upon the occurrence of any Event of Default  described in Section
               C.a.,  payment of the principal  outstanding and interest accrued
               hereunder shall be automatically  accelerated  without any action
               by Lender. Notwithstanding the foregoing, a Change of

<PAGE>

               Control to which Lender has  consented  shall not give rise to an
               Event of Default hereunder, including without limitation, payment
               of the Event of Default interest rate.

D    Conversion Rights.

     a.   Voluntary Conversion.  Lender may, in its sole discretion, at any time
          and from time to time  after the date of this  Note,  elect to convert
          (the "Voluntary Conversion  Right") all or any part of the outstanding
          principal  balance  hereunder  into  such  number  of  fully  paid and
          nonassessable  Shares as determined  by dividing the  principal  being
          converted by the Conversion Price subiect to Section 5 hereof.

     b.   Exercise  of  Conversion  Right.  To  convert  any  of  the  principal
          hereunder into Shares by exercise of the Voluntary  Conversion  Right,
          Lender  shall  deliver to  Borrower a written  notice of  election  to
          exercise the Voluntary  Conversion  Right (the  "Voluntary  Conversion
          Notice"). Borrower shall, as soon as practicable thereafter, issue and
          deliver  to  Lender  a  certificate  or  certificates,  registered  in
          Lender's  name,  for the  number of Shares  to which  Lender  shall be
          entitled  by  virtue  of  such  exercise  (the  "Voluntary  Conversion
          Shares").  The conversion of the outstanding principal hereunder shall
          be deemed to have been  made on the date that  Borrower  receives  the
          Voluntary  Conversion Notice (the "Conversion  Date") and Lender shall
          be treated  for all  purposes  as the record  holder of the  Voluntary
          Conversion  Shares  as of such  date  to the  extent  permitted  under
          applicable law.

     c.   Interest.  If Lender  exercises  its Voluntary  Conversion  Right with
          respect  to  any  outstanding   principal   amount,   Borrower  shall,
          concurrent  with the  issuance  of the  related  Voluntary  Conversion
          Shares,  pay to  Lender  all  interest  accrued  with  respect  to the
          principal converted,  which payment shall be made in the form of cash,
          by converting  such interest into principal  hereunder,  or additional
          Voluntary  Shares.  The form of the payment shall be at the discretion
          of the Borrower.

     d.   Fractional  Shares.  Burrower shall not issue  fractional  Shares upon
          exercise of the Voluntary Conversion Right. As to any fractional Share
          which  Lender  would  otherwise  be entitled to receive,  Lender shall
          receive from borrower an amount in cash equal to an amount  calculated
          by multiplying  such fractional  Share by the fair market value of one
          Share as determined by the closing price of a Share as reported on the
          OTCBB or such other exchange  where shares of Borrower's  common stock
          are traded (or if not traded, as determined in the good faith judgment
          of the Board of  Directors  of Borrower) on the date of exerdse of the
          Voluntary  Conversion  Right.  Payment of such amount shall be made in
          cash or by  check  payable  to the  order  of  Lender  at the  time of
          delivery of any certificate or certificates.EXHIBIT 4.1

                                                          Strictly Confidential
                                                       Private Circulation only

                               [ICICI BANK LOGO]

                             EMPLOYEES STOCK OPTION
                                 SCHEME - 2000

<PAGE>

                               [ICICI BANK LOGO[
                ICICI BANK EMPLOYEES STOCK OPTION SCHEME - 2000

Section I:    Short title, extent and commencement

              1. This Scheme may be called ICICI Bank Employees Stock Option
                 Scheme - 2000.

              2. It applies only to Eligible Employees.

Section II:   Objectives

              The objectives of the Scheme are:

              a) to enhance employee motivation;

              b) to enable employees to participate in the long term growth and
                 financial success of the Bank; and

              c) to act as a retention mechanism, by enabling employee
                 participation in the business as an active stakeholder to
                 usher in an 'owner-manager' culture.

Section III:  Definitions

              1. As used in this Scheme, the following terms shall have the
                 meanings set forth below:

                 a. "Award Confirmation" means a written communication by the
                    Bank to a Participant, evidencing grant of Options.

                 b. "Cause" means (i) act of willful or gross misconduct or
                    neglect (ii) the commission of felony, fraud,
                    misappropriation, embezzlement, breach of trust or an
                    offence involving moral turpitude, (iii) gross or willful
                    insubordination or (iv) any other act detrimental to the
                    interest of the Bank.

                 c. "Committee" means a committee of the Board of Directors of
                    the Bank consisting of a majority of Independent Directors
                    as the Board of Directors of the Bank may constitute from
                    time to time to administer the Scheme.

                 d. "Bank" means ICICI Bank Limited (ICICI Bank) and its
                    successors or its Subsidiary or Holding Company, as the
                    context may require or admit.

                                 Page 2 of 11
<PAGE>

                 e. "Eligible Employee" means permanent employee or a director
                    of the Bank or of a Subsidiary or a Holding Company.

                 f. "Exercise Period" means the period commencing from the date
                    of vesting of Options and ending on the later of (i) the
                    tenth anniversary of the date of grant of Options or (ii)
                    the fifth anniversary of the date of vesting of Options.

                 g. "Exercise Price" means the price payable by the Participant
                    for exercising the Options granted to him.

                 h. "Holding Company" means a holding company of ICICI Bank,
                    hereafter existing, within the meaning of Section 4 of the
                    Companies Act, 1956.

                 i. "Independent Director" means a director of the Bank, not
                    being a whole time director of the Bank.

                 j. "Option" means a right but not an obligation granted to a
                    Participant to apply for a specified number of Shares at a
                    pre-determined price during the Exercise Period subject to
                    the conditions of the Scheme.

                 k. "Participant" means an Eligible Employee selected by the
                    Committee and to whom an Option is granted, or the
                    Successors of the Participant, as the context so requires.

                 l. "Person" means an individual, company, partnership,
                    association, trust, unincorporated organisation, government
                    or political subdivision thereof or any other entity.

                 m. "Scheme" means this Scheme.

                 n. "Shares" mean the equity shares of the Bank or such other
                    securities, as may be designated by the Committee from time
                    to time.

                 o. "Subsidiary" means a subsidiary company of ICICI Bank,
                    whether now or hereafter existing, within the meaning of
                    Section 4 of the Companies Act, 1956.

                 p. "Successors" of a Participant means the legal heirs and/or
                    legal representatives of a deceased Participant.

                 q. "Vesting Confirmation" means a written communication by the
                    Bank to a Participant, evidencing vesting of Options.

                 r. "Vesting Criteria" means criteria as may be stipulated by
                    the Committee for vesting of Options.

                 s. "Vesting Period" means the period during which the vesting
                    of the Options granted to a Participant can take place.

                                 Page 3 of 11
<PAGE>

              2. In the Scheme, unless the contrary intention appears:

                 (a) a reference to "law" includes the constitution, any
                    statute, law rule, regulation, ordinance, judgement, order,
                    decree, authorisation, or any published directive,
                    guideline, requirement or governmental restriction having
                    the force of law, or any determination by, or
                    interpretation of any of the foregoing by, any judicial
                    authority or administrative authority, whether in effect as
                    of the date of the Scheme or thereafter and each as amended
                    from time to time;

                 (b) reference to a gender shall include references to the
                    female, male and neuter genders; and

                 (c) the singular includes the plural (and vice versa).

              3. Words and expressions unless defined herein shall have the
                 same meaning as have been assigned to them under the Companies
                 Act, 1956 or the Securities and Exchange Board of India Act,
                 1992.

Section IV:   Shares subject to the Scheme

              1. The maximum number of Options granted to any Eligible Employee
                 in a financial year shall not exceed 0.05% of the issued
                 equity shares of the Bank at the time of grant of the Options
                 and the aggregate of all such Options granted to all the
                 Eligible Employees shall not exceed five percent of the
                 aggregate number of issued equity shares of the Bank as on
                 March 31, 2000.

              2. The Options granted but not vested and the Options vested but
                 not exercised in accordance with the Scheme or the Award
                 Confirmation or the Vesting Confirmation shall terminate and
                 the Shares covered by such terminated Options shall become
                 available for future grant under the Scheme.

Section V:    Administration of the Scheme

              1. The Scheme shall be administered by the Committee. A member of
                 the Committee to whom the matter under the Scheme specifically
                 relates shall not vote on such matter.

              2. Unless otherwise expressly provided in the Scheme or
                 applicable law, all decisions, determinations and
                 interpretations with respect to, connected with, arising out
                 of or in relation to the Scheme or Award Confirmation or
                 Vesting Confirmation shall be within the sole discretion of
                 the Committee, may be made at any time and shall be final,
                 conclusive and binding upon all Persons including the Bank,
                 any Participants, shareholders and any employees.

                                 Page 4 of 11
<PAGE>

              3. Unless otherwise expressly provided in the Scheme or
                 applicable law, the Scheme shall also be applicable to
                 employees and Directors of the Subsidiaries and Holding
                 Company.

Section VI:   Powers of the Committee

              1. Subject to the provisions of the Scheme and applicable law and
                 in addition to the other express powers and authorisations
                 conferred by the Scheme, the Committee shall have full power
                 and authority to:

                 a. determine, from time to time, eligibility of employees to
                    participate in the Scheme;

                 b. determine the number of Shares subject to each Option;

                 c. determine the minimum and maximum number of Options to be
                    granted under the Scheme per Participant and in aggregate;

                 d. prescribe the Vesting Period and Vesting Criteria;

                 e. prescribe the conditions under which the Options vested in
                    the Participant may lapse (including in case of
                    termination);

                 f. prescribe the Exercise Period within which the Participant
                    should exercise the vested Options in the event of
                    termination or resignation of the Participant;

                 g. prescribe whether the Options vested in a Participant are
                    exercisable at one time or at various points of time within
                    the Exercise Period;

                 h. prescribe the conditions and procedure for the grant, vest
                    and exercise of Options by Participants including
                    Participants who are on long leave, training or otherwise
                    indisposed;

                 i. prescribe, if deemed appropriate and necessary, the
                    procedure for cashless exercise of Options;

                 j. establish, amend, suspend or waive such rules and
                    regulations as it shall deem appropriate for the proper
                    administration of the Scheme;

                 k. Interpret any matter with respect to, connected with,
                    arising out of or in relation to the Scheme, the Award
                    Confirmation and the Vesting Confirmation;

                 l. Appoint such agents as it shall deem necessary for the
                    proper administration of the Scheme;

                                 Page 5 of 11
<PAGE>

                 m. determines or impose other conditions to the grant or
                    exercise of Options under the Scheme as it may deem
                    appropriate;

                 n. make any other determination and take any other action that
                    the Committee deems necessary or desirable for the
                    administration of the Scheme;

                 o. frame suitable policies and systems to ensure that there is
                    no violation of:

                    i.  Securities and Exchange Board of India (Insider Trading)
                        Regulations, 1992; and

                    ii. Securities and Exchange Board of India (Prohibition of
                        Fraudulent and Unfair Trade Practices relating to the
                        Securities Market) Regulations, 1995;

                 by any employee.

Section VII:  Eligibility for grant of Options

              1. The Committee shall have the sole authority to designate any
                 Eligible Employee as Participant.

              2. In determining the Eligible Employee to receive an Option as
                 well as in determining the number of Options to be granted to
                 a Participant, the Committee may consider the position and
                 responsibilities of the Eligible Employee, the nature and
                 value to the Bank of the Eligible Employee's services and
                 accomplishments whether direct or indirect, length of service,
                 grade, performance, merit, present and potential contribution
                 and conduct of the Eligible Employee and such other factors as
                 the Committee may deem relevant.

Section VIII: Vesting of Option

              1. The Options granted to the Participant may vest at one time or
                 at various points of time as stipulated in the Award
                 Confirmation. Provided, however, there shall be a minimum
                 period of one year between the grant of Options and vesting of
                 Options. Unless earlier vested, expired, forfeited or
                 otherwise terminated, each Option shall expire in its entirety
                 upon the third anniversary of the date of grant of Option.

              2. No Option or any part thereof shall vest:

                 a) if the Participant does not fulfill Vesting Criteria as
                    stipulated in the Award Confirmation; or

                 b) if the Participant's employment is terminated by the Bank
                    for Cause; or

                                 Page 6 of 11
<PAGE>

                 c) if the Participant voluntarily terminates employment with
                    the Bank other than on account of death, retirement, or
                    permanent disability,

                 and the Options to the extent not already vested shall lapse
                 and stand terminated and expired forthwith.

              3. If the Participant's employment terminates due to death or
                 permanent disability, whole of the Options shall immediately
                 vest in the Participant's Successors, or the Participant, as
                 the case maybe.

              4. If the Participant's employment terminates due to retirement
                 (including pursuant to any early / voluntary retirement
                 scheme), the whole of the Options shall vest, on the expiry of
                 one year from the date of grant of Options, in the
                 Participant. Provided however that in the event of death or
                 permanent disability of the Participant after retirement but
                 before vesting of Options, the whole of the Options shall
                 immediately vest in the Participant's Successors or the
                 Participant as the case may be.

Section IX:   Exercise Price

              The Exercise Price shall be determined by the Committee on the
              date the Option is granted and shall be reflected in the Award
              Confirmation. The method of payment of Exercise Price shall
              be, determined by the Committee (including by any one or more
              of the following methods of payment).

                 a. Cash

                 b. Cheque

                 c. Promissory Note

                 d. Cash-less exercise programme

Section X:    Exercise of Options

              1. Subject to vesting and other restrictions provided for
                 hereunder or otherwise imposed in accordance herewith, the
                 Participant or Participant's Successors, as the case may be,
                 may exercise the Options by the payment of Exercise Price in
                 full at such time as may be notified during the Exercise
                 Period.

              2. Unless earlier exercised, expired, forfeited or otherwise
                 terminated, each vested Option, if not exercised during the
                 Exercise Period shall lapse and stand terminated and expired
                 forthwith.

              3. If the Participant's employment is terminated by the Bank for
                 the Cause the Participant's vested Options, to the extent then

                                 Page 7 of 11
<PAGE>

              unexercised, shall thereupon cease to be exercisable and shall
              lapse and stand terminated and expired forthwith.

              4. If the Participant voluntarily terminates employment with the
                 Company other than on account of death, retirement, or
                 permanent disability, the vested Options, to the extent then
                 unexercised, shall be exercised by the payment of Exercise
                 Price in full within a period of three months from the date of
                 termination, which period shall be deemed to be the Exercise
                 Period.

              5. If the Participant's employment is terminated due to death,
                 retirement (including pursuant to any early /voluntary
                 retirement scheme) or permanent disability, the vested Option,
                 shall be exercised by the payment of Exercise Price in full at
                 such time as may be notified during the Exercise Period.

              6. Upon receipt of the notice for exercise of the Options (in the
                 form prescribed) and the payment of Exercise Price in a form
                 and manner as may be stipulated by the Committee, the Bank
                 shall issue and allot Shares to the Participant.

Section XI:   General Terms And Conditions

              1. The Committee may at any time amend, discontinue or terminate
                 the Scheme or any part or portion thereof at any time.
                 Provided that any such amendment, discontinuation or
                 termination that would impair the rights of or is detrimental
                 to the interests of the Participant shall not, to that extent,
                 be effective wihout the consent of the affected Participant.

              2. Participation in the Scheme shall not constitute or be
                 construed as a guarantee by the Bank of return on the Shares
                 of the Bank. Any loss/potential loss due to fluctuations in
                 the market price of the Shares or on any other account
                 whatsoever, and the risks associated with such investments
                 will be that of the Participant alone and not of the Bank.

              3. This Scheme shall be subject to all applicable laws and such
                 other terms and conditions, as may be stipulated by the
                 Committee in its absolute discretion.

              4. In the event of issuance of bonus/rights shares,
                 recapitalisation, stock split, reorganisation, merger,
                 consolidation of the Bank or other similar events the number
                 of Shares covered by each outstanding Option and the number of
                 Shares, which have been authorised for issuance under the
                 Scheme but as to which no Options have yet been granted or
                 which have been returned to the Scheme upon the termination of
                 Options as well as the Exercise Price shall be increased or
                 decreased such that the rights of the Participant is
                 substantially proportionate to the rights

                                 Page 8 of 11
<PAGE>

              exisitng prior to such event and to ensure that there is no
              dilution or enlargement of the benefits available under the
              Scheme.

              5. The Committee may at any time waive any conditions or rights
                 under, amend any terms of, or alter, suspend, discontinue,
                 cancel or terminate, any Option theretofore granted,
                 prospectively or retrospectively. Provided that any such
                 waiver, amendment, alteration, suspension, discontinuation,
                 cancellation or termination that would impair the rights of or
                 is detrimental to the interests of the Participant shall not,
                 to that extent be effective without the consent of the
                 affected Participant.

              6. The employees shall maintain the utmost confidentiality
                 regarding the contents of the Scheme and the benefits
                 thereunder at all times and shall not make any announcement to
                 the public or to any third Person regarding the arrangements
                 contemplated by the Scheme and the benefits thereunder except
                 to the extent as may be required by law.

              7. The Bank is entitled to and may, anytime at its discretion,
                 finance the Participant in any manner to the extent permitted
                 by law for the purpose of purchase of Shares or payment of any
                 amount under the Scheme.

              8. The grant of an Option shall not be construed as giving a
                 Participant the right to be retained in the employment of the
                 Bank. Neither the Scheme nor Award Confirmation nor Vesting
                 Confirmation shall form part of any contract of employment
                 between the Bank and the Participant. The rights and
                 obligations of the Participant under the terms of his office
                 or employment with the Bank shall not be affected by his
                 participation in the Scheme. Nothing in the Scheme or any
                 Award Confirmation or any Vesting Confirmation shall confer or
                 be construed as affording a Participant any additional rights
                 as to compensation or damages in consequences of the
                 termination of such office or employment for any reason.

              9. No Participant or holder or beneficiary of any Option shall
                 have any rights as a shareholder with respect to any Shares to
                 be issued pursuant to the Scheme until he has become the
                 holder of such Shares.

              10. The Shares issued pursuant to any Option shall rank pari
                 passu with all the other equity shares of the Bank for the
                 time being issued and outstanding, including payment of full
                 dividend.

              11. Neither the Scheme nor the Option shall create or be
                 construed to create a trust or a separate fund of any kind or
                 a fiduciary relationship between the Bank and a Participant.
                 To the extent that any Person acquires a right to receive
                 payments from the Bank pursuant to any Option, such right
                 shall be no greater than the right of any unsecured general
                 creditor of the Bank.

                                 Page 9 of 11
<PAGE>

              12. No fractional shares shall be issued or delivered pursuant to
                 the Option, and the Committee shall determine whether cash,
                 other securities or other property shall be paid or
                 transferred in lieu of any fractional shares or whether such
                 fractional shares or any rights thereto shall be cancelled,
                 terminated, or otherwise eliminated.

              13. No employee shall have any claim to be granted any Option,
                 and there is no obligation on the part of the Bank for
                 uniformity of treatment of employees or holders or
                 beneficiaries of Options. The terms and conditions of Options
                 need not be the same with respect to each Participant.

              14. No option shall be assigned, alienated, pledged, attached,
                 sold or otherwise transferred or encumbered by the
                 Participant, except to the extent provided under the Scheme or
                 by will or the laws of inheritance.

              15. Nothing contained in the Scheme shall prevent the Bank from
                 adopting or continuing the current or other compensation
                 arrangements and such arrangements may be either generally
                 applicable or applicable only in specific cases.

              16. In the event of any tax liability arising on account of grant
                 of the Options to a Participant, the liability shall be that
                 of the Participant alone and the Bank shall have the right to
                 cause the Shares held by the Participant sold or otherwise
                 alienated to meet the liability on behalf of the Participant.
                 The Bank may, in its discretion, require the Participant to
                 pay to the Bank at the time of exercise of any Option the
                 amount that the Bank deems necessary to satisfy the Bank's
                 obligation to withhold income or other taxes incurred by
                 reason of such exercise.

              17. The Participant shall do all acts necessary and execute all
                 such deeds and documents as may be deemed necessary by the
                 Committee to give effect to the terms of the Scheme.

Section XII:  Award Confirmation

              The grant of Options hereunder shall be evidenced by an Award
              Confirmation which shall be delivered to the Participant and
              shall specify the number of Options granted and the terms and
              conditions of the grant of Options and rules applicable
              thereto.

Section XIII: Vesting Confirmation

              The vesting of Options hereunder, shall be evidenced by a Vesting
              Confirmation which shall be delivered to the Participant and
              shall specify the number of Options vested and the terms and
              conditions of the vesting of Options and rules applicable
              thereto.

                                 Page 10 of 11
<PAGE>

Section XIV:  Effective and Expiry Dates

              This Scheme shall be effective as of the date of its approval by
              the shareholders of the Bank and expire on such date as may be
              notified by the Board of Directors of the Bank.

Section XV:   Headings

              Headings are given to the Sections of the Scheme solely as a
              convenience to facilitate reference. Such headings shall not
              be deemed in any way material or relevant to the construction
              or interpretation of the Scheme or any provision thereof.

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

                                 Page 11 of 11

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