Document:

Exhibit 10.1

 

INDEMNIFICATION AGREEMENT

 

AGREEMENT,
dated as of                        ,
200  between Yahoo! Inc., a Delaware corporation (the “Company”), and                                     (“Indemnitee”).

 

RECITALS

 

WHEREAS, it is
essential to the Company to retain and attract as directors and officers the
most capable persons available.

 

WHEREAS,
Indemnitee is a director and/or officer of the Company.

 

WHEREAS, both
the Company and Indemnitee recognize the increased risk of litigation and other
claims being asserted against directors and officers of public companies in
today’s environment.

 

WHEREAS, basic
protection against undue risk of personal liability of directors and officers
heretofore has been provided through insurance coverage providing reasonable
protection at reasonable cost, and Indemnitee has relied on the availability of
such coverage; but as a result of substantial changes in the marketplace for
such insurance it has become increasingly more difficult to obtain such
insurance on terms providing reasonable protection at reasonable cost.

 

WHEREAS, the Certificate
of Incorporation and Bylaws of the Company contemplate indemnification and
advancement of expenses to its directors and officers to the fullest extent
permitted by law and the Indemnitee has been serving and continues to serve as
a director and/or officer of the Company in part in reliance on such Certificate
of Incorporation and Bylaws.

 

WHEREAS, the
current difficulty in obtaining adequate director and officer liability
insurance coverage at a reasonable cost and uncertainties as to the
availability of indemnification created by recent court decisions have
increased the risk that the Company will be unable to retain and attract as
directors and officers the most capable persons available.

 

WHEREAS, the
Board of Directors of the Company has determined that the inability of the
Company to retain and attract as directors and officers the most capable
persons would be detrimental to the interests of the Company and that the
Company therefore should seek to assure such persons that indemnification and
insurance coverage will be available in the future.

 

WHEREAS, in
recognition of Indemnitee’s need for substantial protection against personal
liability in order to enhance Indemnitee’s continued service to the Company in
an effective manner, and Indemnitee’s reliance on the Company’s Certificate of
Incorporation and Bylaws, and in part to provide Indemnitee with specific
contractual assurance that the protection promised by such Certificate of
Incorporation or Bylaws will be available to Indemnitee (regardless of, among
other things, any amendment to or revocation of such Certificate of
Incorporation or Bylaws or any change in the

 

 

composition of the Company’s Board of Directors or acquisition
transaction relating to the Company), the Company wishes to provide in this
Agreement for the indemnification of and the advancing of expenses to
Indemnitee to the fullest extent (whether partial or complete) permitted by law
and as set forth in this Agreement, and, to the extent insurance is maintained,
for the continued coverage of Indemnitee under the Company’s directors’ and
officers’ liability insurance policies.

 

AGREEMENT

 

In
consideration of the premises and of Indemnitee continuing to serve the Company
directly or, at its request, another enterprise, and intending to be legally
bound hereby, the parties hereto agree as follows:

 

1.                                      Certain Definitions. 
In addition to terms defined elsewhere herein, the following terms have
the following meanings when used in this Agreement:

 

(a)                                 Change in Control: 
shall be deemed to have occurred if (i) any “person” (as such term
is used in Sections 13(d) and 14(d) of the Securities Exchange Act of
1934, as amended), other than a trustee or other fiduciary holding securities
under an employee benefit plan of the Company or a corporation owned directly
or indirectly by the stockholders of the Company in substantially the same
proportions as their ownership of stock of the Company, is or becomes the “beneficial
owner” (as defined in Rule 13d-3 under said Act), directly or indirectly,
of securities of the Company representing twenty percent (20%) or more of the
total voting power represented by the Company’s then outstanding Voting
Securities, or (ii) during any period of two consecutive years,
individuals who at the beginning of such period constitute the Board of
Directors of the Company and any new director whose election by the Board of
Directors or nomination for election by the Company’s stockholders was approved
by a vote of at least two-thirds (2/3) of the directors then still in office
who either were directors at the beginning of the period or whose election or
nomination for election was previously so approved, cease for any reason to
constitute a majority thereof, or (iii) the stockholders of the Company
approve a merger or consolidation of the Company with any other corporation,
other than a merger or consolidation which would result in the Voting
Securities of the Company outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into Voting
Securities of the surviving entity) at least sixty percent (60%) of the total
voting power represented by the Voting Securities of the Company or such
surviving entity outstanding immediately after such merger or consolidation, or
the stockholders of the Company approve a plan of complete liquidation of the
Company or an agreement for the sale or disposition by the Company of (in one
transaction or a series of transactions) all or substantially all the Company’s
assets.

 

(b)                                 Claim: 
means any threatened, asserted, pending or completed action, suit or
proceeding, or appeal thereof, or any inquiry or investigation, whether
instituted by the Company or any governmental agency or any other party, that
Indemnitee in good faith believes might lead to the institution of any such
action, suit or proceeding, whether civil, criminal, administrative,
investigative or other, including any arbitration or other alternative dispute
resolution mechanism.

 

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(c)                                  Expenses: 
include attorneys’ fees and all other costs, expenses and obligations
(including, without limitation, experts’ fees, court costs, retainers,
transcript fees, duplicating, printing and binding costs, as well as
telecommunications, postage and courier charges) paid or incurred in connection
with investigating, defending, being a witness in or participating in, or
preparing to investigate, defend, be a witness in or participate in, any Claim
relating to any Indemnifiable Event.

 

(d)                                 Indemnifiable Amounts: 
means any and all Expenses, damages, judgments, fines, penalties, excise
taxes and amounts paid in settlement (including all interest, assessments and
other charges paid or payable in connection with or in respect of such
Expenses, judgments, fines, penalties, excise taxes or amounts paid in
settlement) arising out of or resulting from any Claim relating to an
Indemnifiable Event.

 

(e)                                  Indemnifiable Event: 
means any event or occurrence, whether occurring before, on or after the
date of this Agreement, related to the fact that Indemnitee is or was a
director and/or officer or fiduciary of the Company, or is or was serving at
the request of the Company as a director, officer, employee, trustee, agent or
fiduciary of another corporation, limited liability company, partnership, joint
venture, employee benefit plan, trust or other entity or enterprise, or by
reason of anything done or not done by Indemnitee in any such capacity.

 

(f)                                   Independent Legal Counsel: 
means an attorney or firm of attorneys, selected in accordance with the
provisions of Section 3 hereof, who is experienced in matters of corporate
law and who shall not have otherwise performed services for the Company or
Indemnitee within the last five years (other than with respect to matters
concerning the rights of Indemnitee under this Agreement, or of other
indemnitees under similar indemnity agreements).

 

(g)                                  Reviewing Party: 
means any appropriate person or body consisting of a member or members
of the Company’s Board of Directors or any other person or body appointed by
the Board who is not a party to the particular Claim for which Indemnitee is
seeking indemnification, or Independent Legal Counsel.

 

(h)                                 Voting Securities: 
means any securities of the Company which vote generally in the election
of directors.

 

2.                                      Basic Indemnification Arrangement;
Advancement of Expenses.

 

(a)                                 In the event Indemnitee was, is or
becomes a party to or witness or other participant in, or is threatened to be
made a party to or witness or other participant in, a Claim by reason of (or
arising in part out of) an Indemnifiable Event, the Company shall indemnify
Indemnitee to the fullest extent permitted by law as soon as practicable but in
any event no later than thirty days after written demand is presented to the
Company, against any and all Indemnifiable Amounts.

 

(b)                                 If so requested by Indemnitee, the Company
shall advance (within five (5) business days of such request) any and all
Expenses incurred by Indemnitee (an “Expense Advance”).  The Company shall, in accordance with such
request (but without

 

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duplication), either (i) pay
such Expenses on behalf of Indemnitee, or (ii) reimburse Indemnitee for
such Expenses.  Subject to the
limitations contained in Sections 2(c) and 2(d), Indemnitee’s right to an
Expense Advance is absolute and shall not be subject to any prior determination
by the Reviewing Party or any other person, that the Indemnitee has satisfied
any applicable standard of conduct for indemnification.

 

(c)                                  Notwithstanding anything in this
Agreement to the contrary, Indemnitee shall not be entitled to indemnification
or advancement of Expenses pursuant to this Agreement in connection with any
Claim initiated by Indemnitee unless (i) the Company has joined in or
Company’s Board of Directors has authorized or consented to the initiation of
such Claim or (ii) the Claim is one to enforce Indemnitee’s rights under
this Agreement.

 

(d)                                 Notwithstanding anything in this
Agreement to the contrary, (i) the indemnification obligations of the
Company under Section 2(a) shall be subject to the condition that the
Reviewing Party shall not have determined (in a written opinion, in any case in
which the Independent Legal Counsel referred to in Section 3 hereof is
involved) that Indemnitee would not be permitted to be indemnified under
applicable law, and (ii) the obligation of the Company to make an Expense
Advance pursuant to Section 2(b) shall be subject to the condition
that, if, when and to the extent that the Reviewing Party determines that
Indemnitee would not be permitted to be so indemnified under applicable law,
the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees
to reimburse the Company) for all such amounts theretofore paid (it being
understood and agreed that the foregoing agreement by Indemnitee shall be
deemed to satisfy any requirement that Indemnitee provide the Company with an
undertaking to repay any Expense Advance if it is ultimately determined that
the Indemnitee is not entitled to indemnification under applicable law); provided, however, that
if Indemnitee has commenced or thereafter commences legal proceedings in a
court of competent jurisdiction to secure a determination that Indemnitee
should be indemnified under applicable law, any determination made by the
Reviewing Party that Indemnitee would not be permitted to be indemnified under
applicable law shall not be binding and Indemnitee shall not be required to
reimburse the Company for any Expense Advance until a final judicial
determination is made with respect thereto (as to which all rights of appeal
therefrom have been exhausted or lapsed). 
Indemnitee’s undertaking to repay such Expense Advances shall be
unsecured and interest-free.  If there
has not been a Change in Control, the Reviewing Party shall be selected by the
Company’s Board of Directors, and if there has been such a Change in Control,
the Reviewing Party shall be the Independent Legal Counsel referred to in Section 3
hereof.  If there has been no
determination by the Reviewing Party within thirty days after written demand is
presented to the Company or if the Reviewing Party determines that Indemnitee
would not be permitted to be indemnified in whole or in part under applicable
law, Indemnitee shall have the right to commence litigation in any court in the
States of California or Delaware having subject matter jurisdiction thereof and
in which venue is proper seeking an initial determination by the court or
challenging any such determination by the Reviewing Party or any aspect
thereof, including the legal or factual bases therefor, and the Company hereby
consents to service of process and to appear in any such proceeding.  Any determination by the

 

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Reviewing Party
otherwise shall be conclusive and binding on the Company and Indemnitee.

 

3.                                      Change in Control. 
The Company agrees that if there is a Change in Control of the Company
then with respect to all matters thereafter arising concerning the rights of
Indemnitee to indemnity payments and Expense Advances under this Agreement or
any provision of the Company’s Certificate of Incorporation or Bylaws now or
hereafter in effect, the Company shall seek legal advice only from Independent
Legal Counsel selected by Indemnitee and approved by the Company (which
approval shall not be unreasonably delayed, conditioned or withheld).  Such counsel, among other things, shall
render its written opinion to the Company and Indemnitee as to whether and to
what extent the Indemnitee would be permitted to be indemnified under
applicable law.  The Company agrees to
pay the reasonable fees and disbursements of the Independent Legal Counsel and
to indemnify fully such counsel against any and all expenses (including
attorneys’ fees), claims, liabilities and damages arising out of or relating to
this Agreement or its engagement pursuant hereto.

 

4.                                      Indemnification for Additional
Expenses.  The Company shall indemnify Indemnitee
against any and all Expenses and, if requested by Indemnitee, shall advance
such Expenses to Indemnitee subject to and in accordance with Section 2(b),
which are incurred by Indemnitee in connection with any action brought by
Indemnitee for (i) indemnification or an Expense Advance by the Company
under this Agreement or any provision of the Company’s Certificate of
Incorporation or Bylaws now or hereafter in effect and/or (ii) recovery
under any directors’ and officers’ liability insurance policies maintained by
the Company, regardless of whether Indemnitee ultimately is determined to be
entitled to such indemnification, Expense Advance or insurance recovery, as the
case may be.

 

5.                                      Partial Indemnity, Etc. 
If Indemnitee is entitled under any provision of this Agreement to
indemnification by the Company for some or a portion of the Expenses or other
Indemnifiable Amounts in respect of a Claim but not, however, for all of the
total amount thereof, the Company shall nevertheless indemnify Indemnitee for
the portion thereof to which Indemnitee is entitled.  Moreover, notwithstanding any other provision
of this Agreement, to the extent that Indemnitee has been successful on the
merits or otherwise in defense of any or all Claims relating in whole or in
part to an Indemnifiable Event or in defense of any issue or matter therein,
including dismissal without prejudice, Indemnitee shall be indemnified against
all Expenses incurred in connection therewith.

 

6.                                      Burden of Proof. 
In connection with any determination by the Reviewing Party or otherwise
as to whether Indemnitee is entitled to be indemnified hereunder the Reviewing
Party or court shall presume that the Indemnitee has satisfied the applicable
standard of conduct and is entitled to indemnification, and the burden of proof
shall be on the Company to establish, by clear and convincing evidence, that
Indemnitee is not so entitled.

 

7.                                      Reliance as Safe Harbor. 
For purposes of this Agreement, Indemnitee shall be deemed to have acted
in good faith and in a manner he or she reasonably

 

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believed to be in or
not opposed to the best interests of the Company if Indemnitee’s actions or
omissions to act are taken in good faith reliance upon the records of the
Company, including its financial statements, or upon information, opinions,
reports or statements furnished to Indemnitee by the officers or employees of
the Company in the course of their duties, or by committees of the Company’s
Board of Directors, or by any other person (including legal counsel,
accountants, consultants and financial advisors) as to matters Indemnitee
reasonably believes are within such other person’s professional or expert
competence and who has been selected with reasonable care by or on behalf of
the Company.  In addition, the knowledge
and/or actions, or failures to act, of any director, officer, agent or employee
of the Company shall not be imputed to Indemnitee for purposes of determining
the right to indemnity hereunder.

 

8.                                      No Other Presumptions. 
For purposes of this Agreement, the termination of any claim, action,
suit or proceeding, by judgment, order, settlement (whether with or without
court approval) or conviction, or upon a plea of nolo
contendere, or its equivalent, shall not create a presumption that
Indemnitee did not meet any particular standard of conduct or have any
particular belief or that a court has determined that indemnification is not
permitted by applicable law.  In addition,
neither the failure of the Reviewing Party to have made a determination as to
whether Indemnitee has met any particular standard of conduct or had any
particular belief, nor an actual determination by the Reviewing Party that
Indemnitee has not met such standard of conduct or did not have such belief,
prior to the commencement of legal proceedings by Indemnitee to secure a
judicial determination that Indemnitee should be indemnified under applicable
law shall be a defense to Indemnitee’s claim or create a presumption that
Indemnitee has not met any particular standard of conduct or did not have any
particular belief.

 

9.                                      Nonexclusivity, Etc. 
The rights of the Indemnitee hereunder shall be in addition to any other
rights Indemnitee may have under the Company’s Certificate of Incorporation or Bylaws
or the Delaware General Corporation Law or otherwise.  To the extent that a change in applicable law
(whether by statute or judicial decision) permits greater indemnification by
agreement than would be afforded currently under the Company’s Certificate of
Incorporation or Bylaws or this Agreement, it is the intent of the parties
hereto that Indemnitee shall enjoy by this Agreement the greater benefits so
afforded by such change.

 

10.                               Liability Insurance. 
To the extent the Company maintains an insurance policy or policies
providing directors’ and officers’ liability insurance, Indemnitee shall be
covered by such policy or policies, in accordance with its or their terms, to
the maximum extent of the coverage available for any Company director or officer.

 

11.                               Period of Limitations. 
No legal action shall be brought and no cause of action shall be
asserted by or in the right of the Company against Indemnitee, Indemnitee’s
spouse, heirs, executors or personal or legal representatives after the expiration
of two years from the date of accrual of such cause of action, and any claim or
cause of action of the Company shall be extinguished and deemed released unless
asserted by the timely filing of a legal action within such two-year period; provided,

 

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however, that if any shorter period of limitations is
otherwise applicable to any such cause of action such shorter period shall
govern.

 

12.                               Amendments, Etc. 
No supplement, modification or amendment of this Agreement shall be
binding unless executed in writing by both of the parties hereto.  No waiver of any of the provisions of this
Agreement shall be deemed or shall constitute a waiver of any other provisions
hereof (whether or not similar) nor shall such waiver constitute a continuing
waiver.

 

13.                               Subrogation. 
In the event of payment under this Agreement, the Company shall be
subrogated to the extent of such payment to all of the rights of recovery of
Indemnitee, who shall execute all papers reasonably required and shall do
everything that may be reasonably necessary to secure such rights, including
the execution of such documents necessary to enable the Company effectively to
bring suit to enforce such rights.

 

14.                               No Duplication of Payments. 
The Company shall not be liable under this Agreement to make any payment
in connection with any Claim made against Indemnitee to the extent Indemnitee
has otherwise actually received payment (under any insurance policy, Certificate
of Incorporation or Bylaws provision or otherwise) of the amounts otherwise
indemnifiable hereunder.

 

15.                               Defense of Claims. 
The Company shall be entitled to participate in the defense of any Claim
relating to an Indemnifiable Event or to assume the defense thereof, with
counsel reasonably satisfactory to the Indemnitee; provided
that if Indemnitee believes, after consultation with counsel selected by
Indemnitee, that (i) the use of counsel chosen by the Company to represent
Indemnitee would present such counsel with an actual or potential conflict of
interest, (ii) the named parties in any such Claim (including any
impleaded parties) include both the Company and Indemnitee and Indemnitee
concludes that there may be one or more legal defenses available to him or her
that are different from or in addition to those available to the Company, or (iii) any
such representation by such counsel would be precluded under the applicable
standards of professional conduct then prevailing, then Indemnitee shall be
entitled to retain separate counsel (but not more than one law firm plus, if
applicable, local counsel in respect of any particular Claim) at the Company’s
expense.  The Company shall not be liable
to Indemnitee under this Agreement for any amounts paid in settlement of any
Claim relating to an Indemnifiable Event effected without the Company’s prior
written consent.  The Company shall not,
without the prior written consent of the Indemnitee, effect any settlement of
any Claim relating to an Indemnifiable Event which the Indemnitee is or could
have been a party unless such settlement solely involves the payment of money
and includes a complete and unconditional release of Indemnitee from all
liability on all claims that are the subject matter of such Claim.  Neither the Company nor Indemnitee shall unreasonably
withhold its or his or her consent to any proposed settlement; provided that Indemnitee may withhold consent to any
settlement that does not provide a complete and unconditional release of
Indemnitee.

 

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16.                               Binding Effect, Etc. 
This Agreement shall be binding upon and inure to the benefit of and be
enforceable by the parties hereto and their respective successors, (including
any direct or indirect successor by purchase, merger, consolidation or otherwise
to all or substantially all of the business and/or assets of the Company),
assigns, spouses, heirs, executors and personal and legal representatives.  The Company shall require and cause any
successor (whether direct or indirect by purchase, merger, consolidation, or
otherwise) to all or substantially all of the business and/or assets of the
Company, by written agreement in form and substance satisfactory to Indemnitee
and his or her counsel, expressly to assume and agree to perform this Agreement
in the same manner and to the same extent that the Company would be required to
perform if no such succession had taken place. 
This Agreement shall continue in effect regardless of whether Indemnitee
continues to serve as an officer and/or director of the Company or of any other
entity or enterprise at the Company’s request.

 

17.                               Security. 
To the extent requested by Indemnitee and approved by the Company’s
Board of Directors, the Company may at any time and from time to time provide
security to Indemnitee for the obligations of the Company hereunder through an
irrevocable bank line of credit, funded trust or other collateral or by other
means.  Any such security, once provided
to Indemnitee, may not be revoked or released without the prior written consent
of such Indemnitee.

 

18.                               Severability. 
The provisions of this Agreement shall be severable in the event that
any of the provisions hereof (including any provision within a single section,
paragraph or sentence) are held by a court of competent jurisdiction to be
invalid, void or otherwise unenforceable in any respect, and the validity and
enforceability of any such provision in every other respect and of the
remaining provisions hereof shall not be in any way impaired and shall remain
enforceable to the fullest extent permitted by law.

 

19.                               Specific Performance, Etc. 
The parties recognize that if any provision of this Agreement is
violated by the Company, Indemnitee may be without an adequate remedy at
law.  Accordingly, in the event of any
such violation, Indemnitee shall be entitled, if Indemnitee so elects, to
institute proceedings, either in law or at equity, to obtain damages, to
enforce specific performance, to enjoin such violation, or to obtain any relief
or any combination of the foregoing as Indemnitee may elect to pursue.

 

20.                               Counterparts. 
This Agreement may be executed in counterparts, each of which shall for
all purposes be deemed to be an original but all of which together shall
constitute one and the same agreement. 
Only one such counterpart signed by the party against whom
enforceability is sought needs to be produced to evidence the existence of this
Agreement.

 

21.                               Headings. 
The headings of the sections and paragraphs of this Agreement are
inserted for convenience only and shall not be deemed to constitute part of
this Agreement or to affect the construction or interpretation thereof.

 

22.                               Governing Law. 
This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Delaware applicable to contracts

 

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made and to be
performed in such state without giving effect to the principles of conflicts of
laws.

 

23.                               Entire Agreement. 
This Agreement constitutes the entire agreement between the parties with
respect to the subject matter hereof and supersedes all prior understandings
and agreements between the parties, whether written or oral, with respect to
the subject matter hereof.

 

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IN WITNESS
WHEREOF, the parties hereto have executed this
Agreement as of the date first above written.

 

	
   

  	
  YAHOO!
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Indemnitee

  

 

10Exhibit 10.59

[RUPEE GRAPHIC]

 

LEASE
DEED

 

THIS
LEASE DEED is executed at Chennai this 01st day of February, 2006

 

Between:

 

Transpacific
Business Service Private Limited, a company registered under the provisions of the Companies Act, 1956
and having its registered office at 1005, Maker Chambers V, Nariman Point,
Mumbai 400 021 and represented herein by its Authorised Signatories Mr. C S
Ilangovan, Director, Mr. Dipesh Desai Chief Accounts Officer and Mr. Salai
Kumaran, Chief operating Officer, each of them duly authorized severally in
this behalf by a Board Resolution dated 20th January 2006,
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) of the One Part;

 

AND

 

 At Road
Software India Private Limited, a company incorporated under the provisions of the Companies Act 1956
and having its offfice currently at Third Floor, ELNET Software City, CPT Road,
Taramani, Chennai - 600-113 and represented herein by its authorized signatory,
Mr. Rajan S. Aiyer, and duly
authorized in this behalf by a Board Resolution dated February 1, 2006,
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 its
successors-in-interest and assigns)  of
the Other Part :

 

1

 

WHEREAS:

 

	
   

  	
  a.

  	
  The Lessor is the absolute owner of the premises
  bearing No. 901(A1) and No. 902(A2) admeasuring in the aggregate 37,262
  Square Feet and Corridor Area admeasuring 648 Square Feet, that is, in the
  aggregate admeasuring 37,910 Square Feet on the 9th Floor of the
  building known as TIDEL Park situated on the land at TIDEL Park, No. 4, Canal
  Bank Road, Taramani, Chennai 600 113, in the Kanagam Village, Mambalam -
  Guindy Taluk, Chennai District which premises are more fully described in the
  First Schedule hereunder written and hereinafter referred to as the ‘said
  Premises’ with the amenities therein which amenities are described in the
  Second Schedule below.

  
	
   

  	
   

  	
   

  
	
   

  	
  b.

  	
  AND WHEREAS the Lessor has represented that the
  Lessor had last leased the said Premises to M/s Sutherland Technologies Ltd.
  and the said lease has expired on 15th Oct 2005 and no person or party has
  now any right, title, interest or claim to the said Premises except the
  Lessors.

  
	
   

  	
   

  	
   

  
	
   

  	
  c.

  	
  The Lessee is desirous of taking the said Premises
  with the said amenities therein on Lease from the Lessor for an initial lease
  period of 36 months, with an option to renew the lease for further two terms
  of 3 years each;

  
	
   

  	
   

  	
   

  
	
  d.

  	
   

  	
  The Lessor has agreed to give the said Premises
  with the said amenities therein on Lease to the Lessee for a period of 36
  months with an option for renewal as aforesaid subject to the Lessee
  observing and complying with the terms and conditions mentioned herein.

  

 

NOW
THIS LEASE DEED WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES
HERETO AS FOLLOWS:

 

	
   

  	
  1.

  	
  The Lease: In
  consideration of the Lease Rent to be paid as mentioned herein and in
  consideration of due observance of the terms and conditions set out herein,
  by the Lessee, the Lessor hereby grants on Lease basis, to the Lessee and the
  Lessee hereby accepts on Lease basis, from the Lessor, the said Premises (more
  particularly described in the First Schedule hereto), for running its office
  and for carrying on its business along with equipments, fittings and
  amenities therein (more particularly described in the Second Schedule hereto)
  for an initial lease period of 36 months from February 1, 2006. The parties
  to the deed covenant that under this deed a lease to use and occupy the said
  Premises with the said amenities alone is given to the Lessee on the terms
  and conditions herein contained and to be observed and performed by the
  parties and no other right is created in favour of the Lessee in respect of
  the said Premises.

  

 

2

 

2.     Lease  Rentals:
The Lessee shall pay to the Lessor as lease rent for the use and occupation of
the said Premises @ Rs. 50/- per sq. ft. per month in respect of 37,910 Square
Feet super built-up areas as specified in the First Schedule hereunder written,
payable in advance by 5th day of every English calendar month after
deducting Income Tax at source, as applicable

 

3.     Escalation: Subject to Clause 4
below. Lease rentals shall escalate @ 3% cumulative every year, including on
further renewals.  Therefore, the yearly
lease rentals from 1st February, 2007 onwards shall be as mentioned
in the Third Schedule hereunder written.

 

4.     Revision  of
Lease  Rentals:
Above Lease Rentals shall be mutually renegotiated during the subsistence of
this Lease Deed if the rentals in TIDEL Park fluctuates plus or minus 20% of
its existing or the then prevailing rentals and such derived / new rentals
shall be in force for the balance tenure of the Lease and the subsequent
escalations / deductions shall be paid on such derived / new rentals.

 

5.     Delay  in
Payments: Subject to the provisions of
Clause 21 below, if the Lessee fails to pay the rentals as aforesaid, for a
continuous period of three months, it will have to immediately vacate the said
premises. Provided that in the event of the Lessee failing to pay the rental
for any month as agreed, the Lessee shall pay interest on the unpaid amount at
the rate of 15 % till payment without prejudice to the right of the Lessor to
obtain the vacant possession of the premises in case of failure to pay the rent
for a continuous period of three months.

 

6.     Security  Deposit:
The Lessee has paid an  Interest  Free Security Deposit of Rs. 1,51,64,000/-
(Rupees One Crore Fifty One Lakhs Sixty Four Thousand only) on or prior to
signing of this Lease Deed and the 
Lessor has thereupon handed over the possession of the said Premises to
the Lessee to hold, use and enjoy the said Premises in terms hereof.

 

7.     Refund  of
Security  Deposit:
Subject to clause 21 below, this Security Deposit shall be refunded by the
Lessor to the Lessee, upon the Lessee debonding the said Premises and the
Lessee shall hand over the keys to the said Premises simultaneously upon expiry
of the period of this Lease Deed or sooner determination thereof or upon expiry
of the period of renewal thereof.  If the
Lessee is interested to hand over the said Premises and the Lessor does not
refund the Security Deposit, the Lessee shall hold the said Premises as
Security and will not be liable to pay the lease rent and other charges from
that date till the date of the refund of the full Security Deposit with
interest to the Lessee.  In

 

3

 

addition to allowing the Lessee to continue to remain in possession of
the said premises as aforesaid, the Lessor shall also pay interest on the
Security Deposit at the rate of 15% from the date the Lessee was ready to
handover the possession till the full refund. On the other hand,   if the
Lessor is ready to refund  the full Security
Deposit but the Lessee does not vacate the said Premises and handover the
possession thereof to the Lessor, then the Lessee is liable to pay twice the
prevailing lease rental  per month till
the Lessee vacates the premises and simultaneously with such vacation of the
premises and debonding of the space Security Deposit shall be refunded by the
Lessor to the Lessee  Provided that the
provisions hereinabove contained are without prejudice to the rights and
remedies of the Lessor to take back the possession of the said premises and of
the Lessee to receive the refund of the Security Deposit at the cost of the
defaulting party.

 

8.               Consumption Charges: The Lessee
shall pay electricity and telephone charges on the actual basis directly to the
authorities concerned as per the electricity and telephone bills received in
respect of the said premises.

 

9.               Taxes and  Statutory  Levies: The
Lessor shall alone bear and pay all existing and future rates, taxes, cesses,
assessments and other statutory levies by whatever name called including
property tax and sewerage tax  and
payable in respect of   the said
Premises.  In the event of the Lessor
failing to pay any of the statutory levies aforesaid in time, the Lessee shall
be entitled (but not bound to do so) to pay and discharge the same and to
deduct the amounts paid by it from the monies payable to the Lessor.

 

10.         Lock In  Period: Except
as provided herein, it has been expressly agreed by and between the parties
hereto that neither party shall have the right to terminate the Lease hereby
given for the initial period of 36 (Thirty six) months i.e. up to January 31,
2009 (“Lock In Period”).  In the event
that the Lessee terminates the lease under this Deed during the Lock In Period,
the Lessee will pay the Lease rentals that will be payable under this Deed, for
the unexpired portion of the Lock In Period and the Lessor shall refund to the Lessee
the balance security deposit after deducting from it the rent for the unexpired
lease term i.e. up to 31st January 2009. Provided that if the
security deposit is less than the amount of the lease rent payable by the
Lessee to the Lessor, including the lease rent for the unexpired Lock-in-Period,
the Lessee shall, simultaneously on 
vacating the Leased Premises but no later than fifteen (15) days from
the date of such termination, pay the balance amount payable to the Lessor.
Failure to pay so within the said time frame of fifteen (15) days, the Lessee
shall be liable to pay as penal charges, an amount equal to twice the amount of
the prevailing lease rent for the unexpired Lock-in-Period.

 

4

 

11.         Lease Tenure: This Lease Deed shall be initially valid for a
period of 36 (Thirty six) months commencing from February 1, 2006 and renewable
at the option of the Lessee for a further two periods of 3 (three) years each.
In case the lease is renewed, the lease rentals shall continue with the
cumulative escalation as mentioned in Clause No. 3 & 4 above and each lease
term shall be terminable by the Lessee by giving a three months written notice
to the Lessor. It is agreed that each renewal option given to the Lessee shall
be subject to the same terms and conditions as herein contained except the
increase in rent as provided in Clauses 3 & 4 above and the subsequent Lock
In Period which shall be agreed upon mutually at the time of such renewals.
Further, after the Lessee has exhausted its option for renewal for two further
terms of three years each, any further renewal shall be on mutually agreed
terms.

 

12.         Obstruction or  Hindrance: The
Lessee shall not in any manner obstruct or hinder the other occupants (i.e.,
other lessees) of the premises on the same floor or in the same building from
using the common areas. The Lessee shall not commit any act, which may cause unreasonable
nuisance to the other occupants. The Lessee shall ensure that no belonging of
the Lessee shall be kept in the common areas. Lessor agrees that other
occupants have agreed to the same provisions of this Clause 8. The Lessor shall
ensure that no obstruction or hindrance is caused by any of the other
occupants, obstructing free access or enjoyment of the said Premises by the
Lessee.

 

13.         Usage of  Premises & Interiors:

 

a.               The Lessee shall keep the interior of the
said Premises in the same condition as they were in when the Lessee had taken
the said premises and amenities from the Lessor, subject to normal wear and
tear and subject to repairs and renovations carried out by the Lessee.

 

b.              Subject to what is contained herein, the
Lessee shall at its sole cost repair and maintain the interior of the said
Premises and the internal electrical, water, drainage, sewerage and other
systems in the said Premises to keep it in good and tenantable condition.

 

c.               Except for the Lessee’s responsibilities as
provided herein, the Lessor at its cost and expense shall keep the entire
premises wind and watertight at all times, for the proper use of the said
Premises and amenities including without limitation the building’s roof,
foundation, structure, walls, external plumbing, drainage systems, sewerage
lines, air conditioning, electricals of the building etc., provided however, in
the event of the Lessor failing to 

 

5

 

carry out any repairs, the Lessee shall be entitled to undertake and
complete the required repairs and to deduct the costs thereof from the monies
payable by the Lessee to the Lessor.

 

14.         Fit-outs in  the  Premises: The Lessee shall be entitled to:

 

a.               Do up the interior of the said Premises at
the discretion and as required by the Lessee and to install such fixtures,
fittings and furniture as the Lessee deems fit;

 

b.              To make any additions or alterations to light
points, wiring, electrical fixtures and fittings;

 

c.               To erect partitions, to make cabins, install
room air-conditioners or central air-conditioning plant and related accessories
including cooling towers subject to approval from the Lessor/TIDEL Park Ltd.;

 

d.               To fix or install such other devices, gadgets
and equipments as the Lessee may deem fit from time to time for the purpose of
carrying on its business in the said Premises other than the specified common
areas;

 

e.               To remove, at its discretion, such additions,
alterations, air-conditioners, internal partitions, cabins, devices, gadgets,
carpets, electrical fittings, furniture and fixtures and other equipments
installed by the Lessee and whether or not affixed to the earth or to the
building. However, the addition/deletion in furnishings, fittings and fixtures
shall be informed to the Lessor as a matter of course in writing. Any
additions/deletions/alterations/modifications shall conform to all the specifications
as prescribed by TIDEL Park Limited and already conveyed by the Lessor to the
Lessee in writing.

 

15.         Tower Space  in  Terrace: The Lessor shall facilitate and help the Lessee to
provide access and permission to utilize area on the terrace of the TIDEL Park,
which is subject to the approval and payment of charges if any to TIDEL Park
Ltd for the purpose of installation of an antenna or other telecom device(s)
needed for Business Purposes.

 

16.         Insurance by  Lessee: The
Lessee may insure and keep insured in such adequate amounts to cover
replacements or loss and with reputable insurance companies the following:

 

a.               Such fixtures and fittings for the
replacement of which the lessee is responsible

 

6

 

b.              All liabilities of the lessee and its
authorized agents, employees and/or representatives arising out of and in
connection with the lessee’s use and occupation of the said premises.

 

c.               Any other risk or matter in Lessee’s sole
discretion.

 

17.         Observe and Perform Actions based on Bye-Laws: The Lessee shall observe and perform the
bye-laws and other regulations, if any, of the TIDEL Park Limited as far as the
said Premises are concerned, a copy of which existing bye-laws has been handed
over to the Lessee and which bye-laws are uniformly applicable to all occupants
in the said building TIDEL Park.

 

18.         Insurance by  Lessor: The
Lessor shall take out necessary insurance with respect to the said Premises and
copies of the same shall be provided to Lessee. The Lessor shall maintain the
already existing comprehensive general liability and all peril insurance
covering the Building including the said premises and all machineries and
equipments, installations and systems etc. Copies of the insurance policies
shall be furnished to the Lessee.  The
insurance covers, inter alia, riots, floods, tempests, fire, earthquake and all
kinds of natural calamities.

 

19.         Sub-Lease  Option: Except
as provided herein, the Lessee shall not assign, transfer, sublet or part with
possession of the said premises and amenities or any portion thereof. However
it is provided that the Lessee may during the lease tenure, sublet the entire
or a part of the said premises to any person, subject to obtaining prior
approval of the Lessor in writing in this regard which approval shall not be
unreasonably withheld. Further it is expressly agreed that the Lessor shall
continue to receive the prevailing lease rental from the Lessee notwithstanding
the fact that the Lessee receives a sub-lease rental below the prevailing lease
rental under the sub-lease agreement entered into by it. The sub-lease
agreement entered into by the Lessee shall automatically stand terminated once
the Lease Deed between the Lessor and the Lessee expires or is terminated or
sooner determined, provided, however, and it is hereby expressly agreed that
the Lessee shall be entitled to assign the Lease hereby granted in part or in
full to any its parent/associate/affiliate companies in which the Lessee has a
majority equity stake or which has a majority equity stake in the Lessee
without any consent from or any additional payment to the Lessor but the Lessee
shall give prompt written notice and obtain confirmation from Lessor of any
such assignment to the Lessor, and which confirmation shall not be unreasonably
withheld provided, further and it is hereby also agreed that the Lessee shall
be entitled without any consent from or any additional payment to the Lessor to
allow the joint use of the said premises to any of its parent/associate/affiliate
companies as aforesaid.

 

7

 

20.         Action against Law: Neither
Lessee nor Lessor shall commit any act, which is prohibited under the laws.

 

21.         Breach of  Contract: If a
party commits a material breach of the terms and conditions of this Deed, the
other party shall issue a notice upon the party in breach, requiring it to
remedy the breach within 30 (thirty) days from the date of receipt of the
notice. In the event the party in breach fails to remedy the breach within the
aforesaid 30 (thirty) days, the other party will be entitled to forthwith
terminate this Deed. In an event, the Lessee commits a material breach of the
terms and conditions of this Deed, it shall vacate the said Premises and hand
over vacant possession thereof to the Lessor if the Lessee fails to remedy the
breach within 30 (thirty) days from the receipt of the notice in that behalf
from the Lessor and the Lessor shall refund the Security Deposit immediately
after adjusting the unpaid lease rentals, if any / any other defaults on Lessee’s
part, as mentioned in clause 6.

 

22.         Return of Possession of Space: At the expiry of the Lease period or any extension thereof or on
earlier termination of the Lease in accordance with the provisions hereof, the
Lessee shall deliver to the Lessor vacant possession of the said Premises in
the same condition in which it had taken the same, subject to natural wear and
tear, damage by riot, strike, war, earth quake, tempest, flood or other act of
God and subject also to the repairs and renovations by the Lessee. At the
expiry of the Lease or sooner determination thereof, if the Lessee handsover
the said Premises to the Lessor in a damaged condition, the Lessor shall be
entitled to adjust the interest free Security Deposit towards the cost of
repair / or replacement of parts of the said Premises; such cost to be
certified by a reputed architect reasonably selected by the parties.

 

23.         Inspection by Lessor:
The Lessor or its authorized representatives shall be entitled to inspect the
said Premises, whenever necessary within reasonable hours in day time upon
giving prior intimation of at least 1 business day (except in case of
emergency) to the Lessee.

 

24.         Repairs in the Premises:
The Lessee shall not carry out any structural additions or alterations to the
said Premises. The minor day to day repairs such as replacement of fuses,
fixing of leaking water, taps, minor repairs shall be carried out by the Lessee
at its own cost, but all major repairs relating to bursting of sanitary pipes,
changes in the electrical system, crack in construction etc. shall be the
responsibility of the Lessor and shall be repaired/replaced by the Lessor at
its own cost upon the Lessee giving the Lessor 3(three) days to carry out such
works.  In case the Lessor fails to take
any timely action, the Lessee shall be 

 

8

 

entitled but not bound to do the same and deduct the costs from the
monies payable to the Lessor.

 

25.         Power: The Lessee
shall be provided with 350 KVA power from TIDEL Park Ltd. If the Lessee
requires additional power, it shall be entitled to apply for and obtain at its
own cost, power supply from TNEB or from any other source and the Lessor shall
extend all possible assistance and co-operation in this behalf without any
financial liability.

 

26.         Payments to Lessor: All
payments to be made hereunder by the Lessee to the Lessor shall be made by
cheque/DD payable at Chennai.

 

27.         Stamp Duty & Registration of the Lease: The Lessee shall pay for the Stamp Duty and
Registration Charges as applicable to the Concerned Authorities at the time of
Lease Registration. However, for any subsequent Lease Registration due to Sale
/ Transfer of Ownership of the subject premises, Lessor shall be responsible to
get the New Owner to agree on the terms and conditions mentioned herein and for
such fresh Lease Registration, Lessor shall bear all charges relating to
documentation and registration.

 

28.         Force Majure: Notwithstanding
anything to the contrary, in case of any violence, civil  commotion, tempest, flood, earthquake, or any
inevitable accident or any act beyond the Lessor or the Lessee’s reasonable
control causing damage to the Premises or the Building housing the Premises, or
in the event of the Premises or the Building housing the Premises or any part
thereof is sealed or prohibited to be used by any municipal / governmental/
judicial/ quasi-judicial or local authority resulting in the Lessee, being
unable to use and enjoy the Premises for its business for a continuous
period  of 30 days and the same not being
rectified by the Lessor within 30 days of the same arising, the Lessee shall be
entitled to terminate this Lease, without penalty, by giving 30 days written
notice to the Lessor without assigning any reason thereof. The Lessor shall
thereupon refund in full the Security Deposit after deducting any unpaid Lease
Rentals / Default of Payments on Lessee’s part within 30 days thereafter. It is
agreed that the Lessee shall not be liable to pay any rent or other charges for
the period the Lessee is not in a position to use the said Premises.

 

29.         Dispute Resolution:.
In the event of any dispute arising under or by virtue of this Agreement or any
difference of opinion between the parties concerning their rights and
obligations under the Agreement the parties shall use their best efforts to
resolve such disputes or differences amicably by discussion and mutual accord.
If the dispute cannot be resolved in this manner within fifteen (15) days, the
parties shall arrange a meeting between appropriate representatives 

 

9

 

designated by each Party, who shall have an additional 15 (fifteen)
days to resolve the dispute or difference. If the dispute or difference is not
resolved within the thirty (30) days period then, unless the parties otherwise
agree in writing, either party may serve written notice on the other party
stating its intention to proceed to arbitration. The unresolved dispute or
difference shall be finally settled by arbitration under the Arbitration and
Conciliation Act 1996. Such arbitration shall be the sole and exclusive remedy
between the parties with respect to such dispute. In the event of a dispute or
difference being referred to arbitration, this contract will continue to be
enforced.

 

30.         Arbitration: The
arbitration shall take place in Chennai, Tamil Nadu.

 

10

 

THE FIRST SCHEDULE ABOVE REFERRED TO :

 

(Details of the demised premises)

 

TIDEL
Park, 9th Floor, No.4, Canal Bank Road, Taramani, Chennai 600 113
situated in  Kanagam Village, Mambalam -
Guindy Taluk, Chennai District on .Land admeasuring an extent of 8.01 Acres,
comprised in T.S. No.4/2 in Block 6 and T/S No. 4/3 in Block No. 7 in Kanagam Village,
Mambalam Guindy Circle, Chennai dist., comprised in T.S. No. 2/1 in Block No. 6
& T.S. No. 4/2 in Block No. 6 in Mylapore Triplicane Village, Thiruvanmiyur
Dist and situated within the Sub-Registration District of Saidapet and
Registration District of Chennai bounded on the

 

North
by MGR Film City,

East
by Canal Bank Road,

South
by ITTI Campus and

West
by CSIR Campus

 

The following modules of the above property:

 

Module
901 (A1) measuring 1731.26 Square meters (18,628 Square Feet)

Module
902 (A2) measuring 1731.74 Square meters (18,634 Square Feet)

Corridor
area admeasuring 648 Square Feet

Total (37,910 Square Feet)

 

11

 

THE SECOND SCHEDULE ABOVE REFERRED TO :

 

Amenities

 

All
amenities will be Centralized and provided by TIDEL Park Ltd., the maintenance
management company

 

These
include the facilities on the lines of the below mentioned items (indicative)

Centralized
Air-conditioning (I.e. up to the AHU’s)

100%
Power Back up

Centralized
Fire protection system

Data
& Voice connectivity enabled (However Lessee has to install his own system
to tap this)

House
keeping of Common areas

Access
Control in all common lift lobbies

Other
General Integrated Building Management systems forming part of overall facilities
management

More
details about the above are also available on their website - www.tidelpark.com

 

12

 

THE THIRD SCHEDULE ABOVE REFERRED TO :

(Particulars of Increased Rentals)

I. Rental Scehdule

 

	
  Area to let out
  (in sft.)

  	
   

  	
  37,910

  	
   

  	
  37,910

  	
   

  	
  37,910

  	
   

  	
  37,910

  	
   

  	
  37,910

  	
   

  	
  37,910

  	
   

  

 

	
  Particulars

  	
   

  	
  Year 1

  	
   

  	
  Year 2

  	
   

  	
  Year 3

  	
   

  	
  Year 4

  	
   

  	
  Year 5

  	
   

  	
  Year 6

  	
   

  
	
  Rent agreed per
  month per sq. ft. (Rs.)

  	
   

  	
  50.00

  	
   

  	
  51.50

  	
   

  	
  53.05

  	
   

  	
  54.64

  	
   

  	
  56.28

  	
   

  	
  57.96

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Rental amount
  per month (Rs.)

  	
   

  	
  1,895,500

  	
   

  	
  1,952,365

  	
   

  	
  2,010,936

  	
   

  	
  2,071,264

  	
   

  	
  2,133,402

  	
   

  	
  2,197,404

  	
   

  

 

13

 

IN
WITNESS WHEREOF the parties hereto have signed this Deed (in Duplicate) at the
place, day, month and year first hereinabove mentioned.

 

	
  SIGNED
  SEALED AND DELIVERED

  
	
  by
  the within named LESSOR

  
	
  Transpacific Business Services Private Limited

  
	
  By
  the Hands of its Authorised Signatory

  
	
  /s/  C.S. ILANGOVAN

  
	
  Mr. C.S. ILANGOVAN

  
	
  Director

  
	
   

  
	
  Witness:

  
	
  1.  /s/ 
  J. SUNDAR RAJAN

  
	
  J. Sundar Rajan - CB
  Richard Ellis

  
	
  c/o R. Jagannathan, Plat 9
  Door No. 10

  
	
  L.H. Nagar, II Layout,
  Adambakkam

  
	
  Chennai 600088

  
	
   

  
	
  SIGNED SEALED AND
  DELIVERED

  
	
  by the within named LESSEE

  
	
  At Road
  Software India Private Limited

  
	
  by the Hands of its duly
  Authorised Signatory

  
	
  /s/ RAJAN S. AIYER

  
	
  Mr. Rajan S. Aiyer

  
	
   

  
	
  Witness:

  
	
  1. /s/  J. BELAJI

  
	
  J. Belaji

  
	
  c/o T. R. Jadaraman

  
	
  4th  Floor, Elnet Software City

  
	
  C.P.T. Road, Tasamani

  
	
  Chennai - 600113

  

 

 

14

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