Document:

Exhibit 10.22

 

***Text Omitted and Filed Separately with the Securities and Exchange Commission Confidential Treatment Requested Under 17
C.F.R. Sections 200.80(b)(4) and 240.24b-2

 

GLOBAL AGREEMENT

 

This Global Agreement (“Agreement”)
is effective as of 1 July 2012 (“Effective Date”) and is between:

 

Amadeus IT Group, S.A., a Spanish
company with principal offices at Salvador de Madrigal, 1 - 28027 Madrid, Spain ( “Amadeus”), and

 

Yatra Online Private Limited, an
Indian company having its registered office at Unit No. 208/209, 2nd Floor, C-Wing, Trade World Centre, Kamala Mills, Senapati
Bapat Marg, Lower Parel (W), Mumbai-400 013, Maharashtra, India (“Customer”)

 

(each a “Party” and collectively
the “Parties”)

 

RECITALS

 

WHEREAS, the Amadeus Group
has developed and is operating a fully automated global reservations and distribution system known as the Amadeus System (defined
below), with the ability to perform comprehensive information, communications, reservations, ticketing and related functions;

 

WHEREAS, Customer desires
to utilize the Amadeus System and other related products and services;

 

IT IS AGREED:

 

		1.	DEFINITIONS

 

The following definitions shall
apply to the terms used in this Agreement unless the context otherwise requires:

 

		1.1	“Agreement” means this Global Agreement, and any Exhibit attached hereto, as
amended or supplemented from time to time.

 

		1.2	“Amadeus Group” means the group of legal entities established in order to organize,
develop, operate, and market the Amadeus System, including Amadeus IT Group, S.A., its subsidiaries and affiliated companies.

 

		1.3	“Amadeus ACO” means an Amadeus Commercial Organization distributing the Amadeus
System within a specified market.

 

		1.4	“Amadeus System” or “System” means the global distribution system
(GDS) being developed, operated and distributed by the Amadeus Group. 

 

		1.5	“Amadeus Web Services” means the application program interface, which consists
of a platform-neutral offering that adheres to cross-platform Web services standards, and related infrastructure, including but
not limited to Amadeus System connectivity, software and services, made available by the Amadeus Group to Customer for the development
of Client Applications as referenced in Exhibit 4 hereto.

 

		1.6	“Booking” means an individual air, car or hotel reservation entry in the itinerary
portion of a PNR processed and booked in the Amadeus System which has not been cancelled, unconfirmed or unfulfilled and which
are billable to the Provider. “Net Bookings” are calculated as Bookings less cancellations. Such calculation shall
be done on a monthly basis.

 

		1.7	“Content” means all airline, car or hotel computerised travel information containing
information about schedules, availability, fares and related services, and through which reservations can be made and/or tickets
issued through the Amadeus System.

 

     

     

    

 

		1.8	“Customer Locations” means Customer and its wholly owned and majority owned
locations, all of which are identified on Exhibit 1 hereto. Additional Customer Locations may be added by mutual written agreement
in accordance with Exhibit 5, and at mutually agreed commercial terms.

 

		1.9	“Customer Equipment” means equipment, hardware, software and any other material
that is not provided by Amadeus or an Amadeus ACO.

 

		1.10	“Eligible Booking” means those Net Bookings that have been paid for by the Provider
to Amadeus.

 

		1.11	“Equipment” means hardware provided to Customer by Amadeus or an Amadeus ACO.

 

		1.12	“GDS” shall mean a global distribution system (commonly referred to as a computerized
reservation system). A GDS (i) collects, stores, processes, displays and/or distributes information through computer terminals
and other devices concerning air and/or ground transportation, lodging and other travel related products and services offered by
travel suppliers; (ii) enables travel agencies, corporations and/or travel wholesalers to reserve or otherwise confirm the use
of, or make inquiries or obtain information in relation to, such products and services and/or (iii) processes transactions for
the acquisition or use of such products and services. For the avoidance of doubt, GDS shall include but not be limited to each
of the global distribution systems operated by Abacus, Amadeus, Axess, Farelogix, G2 Switchworks, Infini, ITA, Sabre, Sirena, Topas,
Travelport, Travelsky, and their respective affiliates, successors and assigns, and any other system with multi-provider content
offering such content to travel agencies, corporations and/or travel wholesalers.

 

		1.13	“Location” means a physical travel service management location identified by
a specific physical street address and office ID.

 

		1.14	“Master Pricer" means an automated low fare search tool especially adapted to
online travel agents. Master Pricer is designed to allow many interactions in the flight and fare search and is only available
via Amadeus Web Services.

 

		1.15	“PNR” means passenger name record.

 

		1.16	“Preferred GDS” means [...***...] or more of Customer’s total
GDS Bookings will be made on the Amadeus System. For the purpose of this definition, bookings which Amadeus has indicated in writing
would not be Eligible Bookings shall not be counted among Customer’s total GDS Bookings.

 

		1.17	“Provider” means a provider of travel related services that makes its data available
through the Amadeus System. 

 

		1.18	“Review Period” means a period of every twelve months, the first such Review
Period commencing on the Effective Date, and subsequent Review Periods commencing on each anniversary of the Effective Date during
the Term and any Extension.

 

		1.20	“Software” means software and related documentation provided by Amadeus or an
Amadeus ACO.

 

		1.21	“Subscriber Agreement” means an agreement between Amadeus or an Amadeus ACO
and a customer covering the provision of Amadeus and/or Amadeus ACO related products and services.

 

		1.22	“Taxes” means any VAT, federal, state
or local tax, surcharge, education charge, levy, duty or similar charge that is imposed on the sale, lease, transfer or use of
any products or services made available to Customer or a Customer Location pursuant to this Agreement.

 

    ***Confidential Treatment Requested***

     

    

 

		1.23	“Transaction” or “Central System Transaction” means a request
to process data that is transmitted to the Amadeus System. Multiple data elements transmitted to the Amadeus System in a string
will be counted as one Transaction. Data elements transmitted via wizards, macros, robotics and similar means may result in multiple
Transactions that are not apparent to the Amadeus System user. A “Central System Transaction” means a Transaction on
the Amadeus System not including low fare search transactions (e.g Master Pricer).

 

		1.24	“User” or “Users” means individuals that access the Amadeus System
over a Web-Site.

 

		1.25	“Web-Site” means any internet web-site or mobile application owned and operated
by Customer that is made available to Users.

 

		2.	TERM

 

			This Agreement, unless terminated earlier
by mutual consent of both the Parties, shall be effective from 1 July 2012 for a period of four (4) years and six (6) months, expiring
on 31 December 2016 (the “Term”), at which point this Agreement will automatically terminate without further action
by the Parties unless: (i) the Parties mutually agree in writing to an extension of this Agreement or (ii) the Customer fails to
fulfill its obligation pursuant to Clause 3.3 hereof, in which case the Agreement will automatically extend for additional one
month periods until such time as the Customer has created [...***...]
Net Bookings from its Customer Locations (sub-sections (i) or (ii) of this Clause 2 referred to herein as an “Extension”).
Subject to the aforementioned, Parties may enter into a new agreement based on mutual discussions. 

 

		3.	ESSENTIAL CONDITIONS OF THE AGREEMENT / CONTRACTING

 

			The following conditions agreed between the Parties form the base of this Agreement:

 

		3.1	Customer agrees that, as a material condition of this Agreement, Amadeus shall be used as its Preferred
GDS during any Review Period (including where airline direct connections may exist) for its reservations and air ticketing requirements
at its present or future Customer Locations, except where:

 

		(i)	certain content is not available on the Amadeus System;
or

 

		(ii)	upon reasonable evidence from Customer that due solely
to technical or other deficiencies with the Amadeus connection or Equipment (and not that of Customer), that the Amadeus System
is not connected to Customer Locations or Web-Site, but only for the limited period that such defect has not been corrected.

 

		3.2	In case of non-compliance with Clause 3.1 above, Amadeus will have the right to obtain an injunction
to prohibit Customer from using any other GDS other than Amadeus amongst other remedies.

 

		3.3	Customer shall create [...***...]
Net Bookings from all its Customer Locations combined during the Term together with any Extension. 

 

		3.4	This Agreement applies only to the Customer Locations listed
in Exhibit 1, and as may otherwise be agreed by the Parties in writing from time to time and upon completion and execution of
an Amendment to the Agreement (Exhibit 5).

 

		3.5	Where shareholdings in a new business in India are majority or wholly owned by Customer,
Bookings from such business shall automatically be counted under this Agreement. If, however, shareholdings in a business are not
majority owned by Customer, Bookings from such business will not automatically be counted under this Agreement.

 

		3.6	Notwithstanding the foregoing, in the event Customer or a Customer Location acquires business that
is already utilizing the Amadeus System and Customer desires Bookings from such business to be counted under this Agreement then
such Bookings will be counted and covered under this Agreement, but only subject to such business fulfilling all of its contractual
obligations under its existing Amadeus contract, and upon completion and execution of an Amendment to the Agreement (Exhibit 5).

 

    ***Confidential Treatment Requested***

     

    

 

		3.7	A breach of Clause 3.1 above shall be considered a material
breach of the Agreement in addition to other matters that may be material breaches under Clause 10 of this Agreement.

 

		4.	PRODUCTS AND SERVICES

 

		4.1	Generally. Customer Locations will be provided
access to the System and may order the products and services reflected on the attached Exhibits and/or as otherwise provided by
Amadeus and the Amadeus ACOs. Customer Locations will order all products and services directly from Amadeus unless otherwise directed.
In the event that Customer Locations wish to order products and services from an ACO then such Customer Location must enter into
a Subscriber Agreement with that ACO, even if such Customer Location is already a party to this Agreement.

 

		4.2	The System

 

		A.	System Access. Amadeus will grant access to the Amadeus System to all Customer Locations.

 

		B.	Ownership/Use. The System is Amadeus’ proprietary information and a trade secret.

 

		C.	System Modifications. Amadeus or its licensors may, in its discretion modify, replace,
substitute and/or upgrade or enhance the functions and components of, and data provided through, the System without any obligation
to Customer or any Customer Location.

 

		D.	Interference with System Performance. If Customer Equipment degrades or interferes
with System performance, or is an unauthorized modification thereto, Customer understands that all resulting downtime and costs
will be Customer’s or the applicable Customer Location’s sole responsibility.

 

		E.	Suspension of Access. Amadeus may suspend System access for a particular Customer
Location without liability if:

 

		(1)	Amadeus reasonably believes that an abuse or misuse of the System is being caused, permitted or
enabled by such particular Customer Location or on such particular Customer Location’s behalf; or

 

		(2)	Such particular Customer Location attempts unauthorized modifications to the System; or

 

		(3)	Such particular Customer Location's access causes degradation to the System or interference with
use of the System by other users, or causes a condition which may place Amadeus in potential or actual breach of its agreements
with other parties (e.g., in the event of robotic software causing an inordinate amount of Transactions to hit the System).

 

			If System access is suspended pursuant to E(1), E(2) or E(3) above, Amadeus will notify the Customer
Location as soon as reasonably possible. The particular affected Customer Location will have thirty (30) days to cure the degradation,
interference or other problem. If the cure is not effected within said period, then this Agreement may be terminated as to such
affected Customer Location without liability to the Customer Location or any other party.

 

     

     

    

 

		5.	CHARGES FOR PRODUCTS AND SERVICES

 

		5.1	Generally. Charges for products and services
provided to Customer Locations are as stated in the attached Exhibits and Taxes thereon will be as agreed under Clause 7 below.
Charges for other products and services will be at Amadeus’ or the applicable Amadeus ACO’s then prevailing rates.
Only Customer Locations are entitled to the pricing identified in the attached Exhibits.

 

		5.2	Payment of Charges. Unless otherwise agreed between the Parties, Amadeus will invoice
Customer for Amadeus centrally provided products and services. Any sums due to Customer by Amadeus may be offset by Amadeus against
charges invoiced and owed by Customer.

 

			Amadeus may impose a late charge for any
payments not received by the due date. Said late charge shall not exceed amounts authorized by applicable law. 

 

		6.	ADVANCE INCENTIVE AND LOYALTY SIGNING BONUS

 

In
exchange for Customer’s use of the System in the Customer Locations as detailed under Exhibit 1, Customer will qualify for
the Advance Incentive and Loyalty Signing Bonus identified on and subject to Exhibit 2. Any repayments of the Advance Incentive
or Loyalty Signing Bonus or as referenced in Exhibit 2 will be along with interest at a compounded annual rate of [...***...]
from the date the payment was made by Amadeus. 

 

		7.	TAXES

 

The Parties agree to comply
with any and all applicable Tax laws and regulations. Charges for products and services and payment of the Loyalty Signing Bonus,
Advance Incentive and Loyalty Incentives are exclusive of Taxes. For the transactions contemplated hereunder, Amadeus shall be
liable for any Taxes which must be paid to Spanish tax authorities and Customer shall be liable for any Taxes which must be paid
to Indian tax authorities. Should Customer be required under applicable law to withhold or deduct any portion of the payments due
to Amadeus as repayment of any portion of either the Loyalty Signing Bonus or Advance Incentive, then the sum payable to Amadeus
will be increased by the amount necessary to yield to Amadeus an amount equal to the sum it would have received had no withholdings
or deductions been made. Payment to Amadeus for products and services (such as those described in Exhibit 3 hereof) shall be subject
to statutory withholding, and the Customer shall provide Amadeus with formal withholding certificates for all amounts withheld.
The Parties will cooperate in good faith to obtain refunds of any taxes paid to the authorities that should not have been charged
and/or paid. The Parties’ agreement to this clause is based on tax laws and regulations effective as of the Effective Date.
Should there be a material change in tax laws or regulations which affect the transactions hereunder, the Parties shall discuss
in good faith possible changes to their respective tax obligations pursuant this clause.

 

		8.	WARRANTIES DISCLAIMER/LIMITATIONS

 

		8.1	DISCLAIMER OF ALL OTHER WARRANTIES AND REMEDIES.
AMADEUS MAKES NO WARRANTIES TO CUSTOMER UNDER THIS AGREEMENT INCLUDING, WITHOUT LIMITATION, ANY EXPRESS OR IMPLIED WARRANTY OF
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, ACCURACY OR COMPLETENESS OF THE DATA DERIVED FROM THE SYSTEM, NON-INFRINGEMENT,
OR ANY IMPLIED WARRANTIES ARISING OUT OF COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE OF TRADE, OR THAT AMADEUS OR THE AMADEUS
ACO WILL MAKE THE DATA OF ANY PARTICULAR PROVIDER AVAILABLE TO CUSTOMER OR CUSTOMER LOCATIONS ON THE SYSTEM.

 

    ***Confidential Treatment Requested***

     

    

 

		8.2	LIABILITY LIMITATIONS

 

		A.	Dishonored Reservations. IF A PROVIDER DOES
NOT HONOR A RESERVATION BOOKED THROUGH THE SYSTEM DUE TO OVER SALE OR LACK OF A RECORD OF THE RESERVATION, THE SOLE REMEDY WILL
BE AS SET FORTH IN THE PROVIDER’S TARIFF OR THE PROVIDER’S APPLICABLE POLICIES AND PROCEDURES.

 

		B.	Limitation of Liability. EXCEPT FOR (A) ACCRUED SUMS EXPRESSLY OWED UNDER THIS AGREEMENT
BY EITHER PARTY TO THE OTHER; (B) ANY EXPRESS INDEMNITY OBLIGATIONS HEREIN; (C) ANY PAYMENT OBLIGATIONS PURSUANT TO AN EXHIBIT;
AND (D) DIRECT DAMAGES FOR BREACHES OF CONFIDENTIALITY, GROSS NEGLIGENCE OR WILFUL MISCONDUCT, NEITHER PARTY WILL BE LIABLE TO
THE OTHER, UNDER ANY THEORY OF LIABILITY OR ANY FORM OF ACTION FOR ANY OTHER DAMAGE INCLUDING LOSS OF PROFITS OR BUSINESS OR ANY
INCIDENTAL, SPECIAL, PUNITIVE, EXEMPLARY, INDIRECT, CONSEQUENTIAL, INTEREST, REVENUE, SAVINGS OR ANY OTHER ECONOMIC LOSS, OR THE
COMPILATION, COMMUNICATION, DELIVERY OR LOSS OF USE OF ANY DATA, EVEN IF THE DEFAULTING PARTY HAD BEEN ADVISED OF, KNEW, OR SHOULD
HAVE KNOWN OF THE POSSIBILITY THEREOF.

 

TO THE EXTENT THAT EITHER PARTY
HAS ANY OTHER LIABILITY UNDER THIS AGREEMENT OR IN RELATION TO THIS AGREEMENT UNDER ANY THEORY OF LIABILITY, INCLUDING CONTRACT
AND TORT, THEN EACH PARTY'S LIABILITY FOR DAMAGES TO THE OTHER HEREUNDER, EXCEPT IN THE CASE OF WILFUL MISCONDUCT OR GROSS NEGLIGENCE
OF THE PARTY, WILL BE LIMITED TO ONE HUNDRED THOUSAND (100,000) U.S. DOLLARS.

 

		9.	CONFIDENTIALITY

 

The Parties will not disclose
any of the terms and conditions of this Agreement, including but not limited to pricing, loyalty bonus or incentive terms, to any
third party without the other Party’s written consent. Further, both Parties agree not to disclose the other Party’s
or any Customer Location’s Confidential Information without written consent. “Confidential Information” includes
the terms and conditions of this Agreement and otherwise means information, not generally known in the relevant trade or industry,
which was received by a Party (the “Receiving Party”) from the other Party or a Customer Location (the “Disclosing
Party” as applicable), and which is information relating to: (1) trade secrets of the Disclosing Party; (2) existing or contemplated
products, services, technology, designs, processes, formulae, computer systems, algorithms, research or developments of the Disclosing
Party; or (3) business plans, sales or marketing methods, methods of doing business, customer lists or requirements, and supplier
information of the Disclosing Party. “Confidential Information” does not include information (1) already known to the
Receiving Party at the time of disclosure (unless under a pre-existing obligation of confidence); (2) that becomes publicly available
(other than due to a breach by the Receiving Party); (3) is rightfully received by the Receiving Party from a third party without
an obligation of confidentiality; (4) is independently developed by the Receiving Party without reference to the Disclosing Party’s
Confidential Information, or (5) relates to data generated through the System which is disclosed by Amadeus to or as required by
third parties in the normal and customary course of Amadeus’ business (for example MIDT data).

 

     

     

    

 

		10.	TERMINATION/EFFECT OF TERMINATION

 

		10.1	Termination. The Agreement will be terminated in accordance with Clause 2 above.
Neither Party may terminate this Agreement for convenience. In addition to any other termination rights expressly provided for
in this Agreement, this Agreement may be terminated by either Party:

 

		(i)	for a material breach of any term of the Agreement by the other Party, in the event that the other
Party fails to cure such breach within thirty (30) days after receipt of notice;

 

		(ii)	upon notice if the other Party breaches Clause 9 above and fails to cure all consequences arising
from such breach within five (5) days’ notice of the breach;

 

		(iii)	if the other Party becomes insolvent, makes an assignment for the benefit of creditors, suffers
the appointment of a receiver, a trustee, a creditors committee, or a petition in bankruptcy or seeks reorganization, or readjustment
of its debts or its dissolution or liquidation or for any other relief under any bankruptcy or insolvency law, or has entered against
it a judgement or decree for its dissolution which remains undismissed or undischarged or unbonded for a period of thirty (30)
days, or if the other party shall take any step leading to the cessation as a going concern, or ceases operations for reasons other
than a strike.

 

		10.2	Effect of Termination.

 

		(i)	In the event of termination of this Agreement, (a) the Parties will promptly return all Confidential
Information to the Disclosing Party, and (b) Customer Locations will no longer be entitled to the pricing or any incentives that
may be identified in this Agreement.

 

		(ii)	A. In the event that this Agreement is terminated during the Term or any Extension by (a) Customer
for any reason other than pursuant to Clause 10.1 (i), (ii) or (iii) or 13.2 below or (b) Amadeus, pursuant to Clause 10.1 (i)
or (ii) above, and Customer has created less than [...***...] Net Bookings, Customer agrees to pay back to Amadeus, without
the requirement for notice or demand, and within ten (10)days following the termination of this Agreement: [...***...].

 

B. In the event that this Agreement
is terminated during the Term or any Extension by (a) Customer for any reason other than pursuant to Clause 10.1 (i), (ii) or (iii)
or 13.2 below or (b) Amadeus, pursuant to Clause 10.1 (i) or (ii) above, and Customer has created [...***...] Net Bookings
or more, Customer agrees to pay back to Amadeus, without the requirement for notice or demand, and within ten (10) days following
the termination of this Agreement: [...***...].

 

		(iii)	In the event that this Agreement is terminated during the Term or any Extension by Amadeus pursuant
to Clause 10.1 (iii) above or by either Party pursuant to Clause 13.2 or 13.6, or this Agreement is mutually terminated in writing
by both Parties, then Customer shall refund to Amadeus the amount equal to the sum of: [...***...] Net Bookings made
by the Customer on the Amadeus System from the Effective Date until the date of termination of this Agreement. Any such payment
will be paid within ten (10) days following termination of the Agreement along with interest at a compounded annual rate of [...***...]
from the date the Loyalty Signing Bonus and the Advance Incentive was paid.

 

    ***Confidential Treatment Requested***

     

    

 

		11.	NOTICES

 

Notices and consents under
this Agreement must be in writing, and will be deemed delivered: (1) five (5) business days after being sent by first class mail
to the address below (or identified on the form attached as Exhibit 1); or (2) two (2) business days after being sent by way of
a nationally recognized overnight delivery service to the address below (or identified on the form attached as Exhibit 1); or (3)
immediately upon hand delivery, in each case to the person identified below.

 

	
        To: Amadeus IT Group, S.A.

         

        Same address as above.

         

         

         

        Attn: Global Customers IT Solutions

         

        For any claims hereunder, a copy
        to General Counsel.
	
        To: Yatra Online Private Limited 

         

        1101-03, Tower B,

        11th Floor, Unitech Cyber Park

        Sector – 39, Gurgaon – 122 001

         

        Attn: Mr. Dhruv Shringi

 

Either Party may give written
notice to the other Party of such other address(es) to which notices shall be sent, and thereafter notices shall be sent to such
new or additional addresses.

 

		12.	ARBITRATION 

 

Any question
concerning the existence, validity, or termination of this Agreement, and any other dispute arising out of or relating to this
Agreement, that cannot be resolved by agreement between the Parties shall be finally settled by arbitration according to the ICC
Rules and the following:

 

		12.1	The number of arbitrators shall be three (3). Each Party
shall nominate one (1) arbitrator for confirmation by the ICC. If a Party fails to nominate an arbitrator within the time period
specified by the ICC Rules, the ICC Court of Arbitration shall appoint an arbitrator for that Party. The arbitrators nominated
by (or on behalf of) the Parties shall, within twenty-one (21) days after their confirmation by the ICC Court of Arbitration,
agree on a third arbitrator who shall act as the chairman.

 

		12.2	The language of the arbitration shall be English.

 

		12.3	The decision of the arbitrators shall be final, conclusive
and binding on the Parties. Any award rendered by the arbitrators may be enforced by any court or authority of competent jurisdiction.

 

		12.4	The place of the arbitration shall be Singapore.

 

		12.5	Any monetary award shall be denominated in U.S Dollars.

 

		12.6	The arbitrators shall be bound to follow the terms and conditions of this Agreement including,
but not limited to, all limitations of liability provided herein.

 

     

     

    

 

		13.	GENERAL PROVISIONS

 

		13.1	Assignment. Customer may not assign this Agreement or any right or obligation under
this Agreement without Amadeus’ consent, which will not be unreasonably withheld. If Amadeus permits an assignment, the assignee
will be deemed to have assumed and be bound by all of Customer obligations under this Agreement. Subject to prior written approval
given by the Customer, which will not be unreasonably withheld, Amadeus may assign this Agreement to (i) a company within the Amadeus
Group, and (ii) to any entity that acquires substantially all of Amadeus’ assets.

 

		13.2	Force Majeure. Neither Party shall be responsible for, nor be deemed to be in default
under this Agreement on account of, any failure to perform or delay in performance hereunder caused directly or indirectly by any
fact beyond such Party’s reasonable control including, but not limited to, acts of God, war, terrorism, criminal acts of
third parties, embargo, strikes or other labour disputes, work stoppages, riots, civil unrest, fires or acts of government (“Force
Majeure”). The Party claiming that Force Majeure has occurred shall without unnecessary delay notify the other Party in writing
of the cause and effect of the Force Majeure. The Parties shall use their best efforts to avoid, overcome and offset the effects
of any cause or potential cause of an event of Force Majeure. The Party claiming Force Majeure shall notify the other Party immediately
of the cessation of the Force Majeure. Upon cessation of the cause of the Force Majeure, this Agreement shall again become fully
operative, provided that should such Force Majeure event continue for greater than thirty (30) days, either Party may terminate
this Agreement upon written notice to the other Party, and the provisions of Clause 10 will apply.

 

		13.3	IP/Tradenames/Trademarks. The owner of all patent, trademark, copyright and any other
intellectual property right will continue to be the owner of such property rights. No right to such property is granted by one
Party to the other by virtue of this Agreement. Except for Amadeus’ right to identify Customer as a customer of Amadeus,
the Parties will not use one another’s tradename or trademarks without prior written consent of the owner. Amadeus will own
all development provided or funded by Amadeus or its contractors except solely as otherwise agreed in writing.

 

		13.4	Governing Law. This Agreement is governed by and construed in accordance with the
laws of England and Wales, exclusive of conflicts of law principles.

 

		13.5	Material Revenue Change. Should there be a decrease of chargeable booking fee from
Amadeus to any Provider, Amadeus upon receiving intimation to this effect, shall notify Customer of such change. The Parties agree
to negotiate in good faith any adjustments necessary to the Loyalty Incentive rates for such Eligible Bookings resulting from such
change. In the event that the Parties cannot agree to such adjustments after reasonable consultations and escalation to senior
management within their respective organizations during a period of no less than forty-five (45) days, Amadeus may reduce the Loyalty
Incentive on such segments. In such cases and at Customer’s request, Amadeus shall facilitate a certificate issued by an
independent third party auditor or accounting firm confirming that the reduction in the Loyalty Incentive to Customer is in proportion
to the reduction in the booking fee from the applicable Provider.

 

		13.6	Change in Law/Regulation. The Parties understand that the travel industry in which
they operate is constantly evolving due to technological advancements, regulatory overview and changes in Provider distribution
policies. The Parties desire the flexibility to address material changes in the industry. Accordingly, in the event there is a
material change in any law or regulation governing or applying to GDSs, Providers or travel agency companies which have or will
have a direct or indirect material adverse effect upon the benefits of this Agreement to either Party, then the affected Party
may notify the other Party of such material change in law or regulation, as well as proposed changes to this Agreement (the “Notice”).
The Parties will then meet as appropriate with the goal of addressing the proposed changes in good faith. If the Parties do not
agree to such changes within forty-five (45) days after the date of the Notice, then the affected Party may terminate this Agreement
upon ninety (90) days written prior notice to the other Party and the provisions of Clause 10 will apply.

 

     

     

    

 

		13.7	Booking and Transaction Counts. Amadeus relies
on automated records for Booking and Transaction data. In the event Customer disputes the Booking volume, Customer must prove
and substantiate such claim with proper records (electronic or otherwise) of all Bookings made within sixty (60) days from date
of intimation of Booking volumes by Amadeus to Customer failing which Amadeus' calculations will be final and binding.

 

		13.8	Waiver. No waiver of any provision or of
any breach of this Agreement shall constitute a waiver of any other provision or of any subsequent breach.

 

		13.9	Independence. In no event shall either Party
act as an agent of the other. The Parties are entirely independent from the other and this Agreement in no manner creates a partnership,
joint venture or similar relationship.

 

		13.10	Entire Agreement / Modification. This Agreement constitutes the entire agreement
between the Parties with respect to this subject matter and supersedes and cancels all prior agreements or understandings, oral
or written. This Agreement may not be modified or amended except in writing, signed by authorized representatives of each Party.

 

		13.11	Third Party Beneficiary. This Agreement is for the benefit of the Parties only. It
does not confer any rights or benefits on any other party.

 

		13.12	Identification of Customer and Customer Locations. Customer agrees, and will cause
Customer Locations to agree as necessary, to their identification in any marketing, booking and sales data that Amadeus, Amadeus
IT Group, S.A. or any other company of the Amadeus Group decides to make available.

 

		13.13	Severability. If any provision of this Agreement shall be invalid, illegal, or unenforceable
in any respect, it shall be ineffective only to the extent of such invalidity, illegality or unenforceability and shall not in
any way affect or impair the validity, legality and enforceability of the balance of such provision or any other provision of this
Agreement. The Parties shall endeavour in good faith negotiations to replace the invalid, illegal or unenforceable provision(s)
or such portion thereof with such valid, legal and enforceable provision(s) the economic effect or which is as close as possible
to that of the invalid, illegal or unenforceable provision(s).

 

		13.14	Captions. The captions appearing in this Agreement have been inserted as a matter
of convenience and in no way define, limit or enlarge the scope of any provision of this Agreement.

 

		13.15	Counterparts. This Agreement may be executed
in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the
same instrument.

 

     

     

    

 

IN WITNESS THEREOF, the Parties
hereto have executed this Agreement as of the dates below.

 

	Amadeus IT Group, S.A.	 	Yatra Online Private Limited
	 	 	 
	Name:	Holger Taubmann	 	Name:	Dhruv Shringi
	 	 	 	 	 
	Title:	SVP Distribution	 	Title:	CEO
	 	 	 	 	 
	Date:	Sept 14, 2012	 	Date:	Sept 14, 2012

 

	/s/ Holger Taubmann	 	/s/ Dhruv Shringi 
	Signature	 	SignatureExhibit 10.25

 

SUBSCRIPTION AGREEMENT

 

Yatra Online, Inc.

1101-03, 11th Floor, Tower-B

Unitech Cyber Park

Sector 39, Gurgaon, Haryana 122002

India

 

Ladies and Gentlemen:

 

Subject to the terms
and conditions set forth herein, the undersigned proposes to purchase the Ordinary Shares, par value $0.0001 per share (the “Shares”),
from Yatra Online, Inc., a Cayman Islands exempted company limited by shares (the “Company”) for a purchase
price of $10.00 per share. In connection therewith, the undersigned and the Company agree as follows:

 

1.                 
The undersigned hereby irrevocably subscribes for and agrees to purchase from the Company such number of Shares as is set
forth on the signature page of this Subscription Agreement on the terms provided for herein. The undersigned understands and agrees
that the Company reserves the right to accept or reject the undersigned’s subscription for the Shares for any reason or for
no reason, in whole or in part, at any time prior to its acceptance by the Company, and the same shall be deemed to be accepted
by the Company only when this Subscription Agreement is signed by a duly authorized person by or on behalf of the Company; the
Company may do so in counterpart form. In the event of rejection of the entire subscription by the Company or the termination of
this subscription in accordance with the terms hereof, the undersigned’s payment hereunder will be returned promptly to the
undersigned along with this Subscription Agreement, and this Subscription Agreement shall have no force or effect. In the event
that the Company rejects the subscription in part, the undersigned may terminate this Subscription Agreement by providing notice
to the Company within one business day of receiving notification that its subscription was rejected in part.

 

2.                 
The closing of the sale of Shares contemplated hereby (the “Closing”) is contingent upon the consummation
of the Company’s proposed business combination (the “Transaction”) with Terrapin 3 Acquisition Corporation,
a Delaware corporation (“Terrapin 3”). The Company intends to hold the Closing immediately following the closing
of the Transaction. Upon (i) satisfaction of the conditions set forth in Section 3 below and (ii) not less than three (3) business
days’ written notice from (or on behalf of) the Company to the undersigned (the “Closing Notice”), that
the Company reasonably expects all conditions to the closing of the Transaction to be satisfied on a date that is not less than
five (5) business days from the date of the Closing Notice, the undersigned shall deliver to the Company on the closing date specified
in the Closing Notice (the “Closing Date”) the subscription amount for the Shares subscribed by wire transfer
of United States dollars in immediately available funds to the account set forth on Exhibit A attached hereto (or such other
account specified by the Company in the Closing Notice) against delivery to the undersigned of the Shares in book entry form as
set forth in the following sentence. The Company shall deliver (or cause the delivery of) the Shares in book entry form to the
undersigned or to a custodian designated by undersigned, as applicable, as indicated below. This Subscription Agreement shall terminate
and be of no further force or effect, without any liability to either party hereto, if the Company notifies the undersigned in
writing that it has abandoned its plans to move forward with the Transaction and/or terminates the undersigned’s obligations
without the delivery of the Shares having occurred.

 

     
 

     

    

 

3.                 
The Closing is also subject to the closing condition that, on the Closing Date, no suspension of the qualification of the
Shares for offering or sale or trading in any jurisdiction, or initiation or threatening of any proceedings for any of such purposes,
shall have occurred.

 

4.                 
The undersigned acknowledges and agrees that, without the prior written consent of the Company, during the period commencing
on the Closing Date and continuing until the expiration of the ninety (90) day period commencing on the date of the closing of
the Transaction, the undersigned shall not (a) sell, assign, transfer (including by operation of law), incur any liens, charges,
security interests, options, claims, mortgages, pledges, proxies, voting trusts or agreements, obligations, understandings or arrangements
or other restrictions on title or transfer of any nature whatsoever, dispose of or otherwise encumber (each, a “Transfer”),
(b) make any short sale of, grant any option for the purchase of, or (c) enter into any hedging or similar transaction with the
same economic effect as a Transfer of, any of the Shares. The Company may impose stop-transfer instructions and may stamp each
certificate representing the Shares with an appropriate legend to enforce the provisions of the foregoing sentence. Any purported
Transfer or other transaction in violation of this Section 4 shall be null and void.

 

5.                 
The undersigned is (i) a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of
1933, as amended (the “Securities Act”)) or (ii) an “accredited investor” (within the meaning of
Rule 501(a) under the Securities Act), in each case, satisfying the requirements set forth on Schedule A, and is acquiring
the Shares only for his, her or its own account and not for the account of others, and not on behalf of any other account or person
or with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act (and shall
provide the requested information on Schedule A following the signature page hereto). The undersigned is not an entity formed
for the specific purpose of acquiring the Shares.

 

6.                 
The Company represents and warrants that:

 

		a.	The Company has been duly incorporated, is validly existing and is in good standing under the laws
of the Cayman Islands, with corporate power and authority to own, lease and operate its properties and conduct its business as
presently conducted.

 

		b.	The Shares have been duly authorized and, when issued and delivered to the undersigned against
full payment therefor in accordance with the terms of this Subscription Agreement, the Shares will be validly issued, fully paid
and non-assessable and will not have been issued in violation of or subject to any preemptive or similar rights created under the
Company’s Articles of Association or under the law of the Cayman Islands.

 

		c.	This Subscription Agreement has been duly authorized, executed and delivered by the Company and
is enforceable in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles
of equity, whether considered at law or equity.

 

    	 	2	 

     

    

 

		d.	The issuance and sale of the Shares and the compliance by the Company with all of the provisions
of this Subscription Agreement and the consummation of the transactions herein will not conflict with or result in a breach or
violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien,
charge or encumbrance upon any of the property or assets of the Company or any of its subsidiaries pursuant to the terms of (i)
any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which the Company or
any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property
or assets of the Company is subject, which would have a material adverse effect on the business, properties, financial condition,
stockholders’ equity or results of operations of the Company (a “Material Adverse Effect”) or affect the
validity of the Shares or the legal authority of the Company to comply with the terms of this Subscription Agreement; (ii) result
in any violation of the provisions of the organizational documents of the Company or any of its subsidiaries; or (iii) result in
any violation of any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or
foreign, having jurisdiction over the Company or any of its subsidiaries or any of its properties which would have a Material Adverse
Effect or affect the validity of the Shares or the legal authority of the Company to comply with this Subscription Agreement; subject,
in the case of the foregoing clauses (i) and (iii) with respect to the consummation of the transactions therein contemplated.

 

7.                 
The undersigned understands that the Shares are being offered in a transaction not involving any public offering within
the meaning of the Securities Act and that the Shares have not been registered under the Securities Act. The undersigned understands
that the Shares may not be resold, transferred, pledged or otherwise disposed of by the undersigned absent an effective registration
statement under the Securities Act except (i) to the Company or a subsidiary thereof, (ii) to non-U.S. persons pursuant to offers
and sales that occur outside the United States within the meaning of Regulation S under the Securities Act or (iii) pursuant to
another applicable exemption from the registration requirements of the Securities Act, and in each of cases (i) and (iii) in accordance
with any applicable securities laws of the states and other jurisdictions of the United States, and that any certificates representing
the Shares shall contain a legend to such effect. The undersigned acknowledges that the Shares will not be eligible for resale
pursuant to Rule 144 promulgated under the Securities Act. The undersigned understands and agrees that the Shares will be subject
to transfer restrictions and, as a result of these transfer restrictions, the undersigned may not be able to readily resell the
Shares and may be required to bear the financial risk of an investment in the Shares for an indefinite period of time. The undersigned
understands that it has been advised to consult legal counsel prior to making any offer, resale, pledge or transfer of any of the
Shares.

 

    	 	3	 

     

    

 

8.                 
The Company agrees that, within 30 days after the Closing Date, the Company will file with the Securities and Exchange Commission
(the “SEC”) a registration statement registering (among other securities) the resale of the Shares (the “Registration
Statement”), and the Company shall use its commercially reasonable efforts to have the Registration Statement declared
effective as soon as practicable after the filing thereof; provided, however, that the Company’s obligations to include the
Shares in the Registration Statement are contingent upon the undersigned furnishing in writing to the Company such information
regarding the undersigned, the securities of the Company held by the undersigned and the intended method of disposition of the
Shares as shall be reasonably requested by the Company to effect the registration of the Shares, and shall execute such documents
in connection with such registration as the Company may reasonably request that are customary of a selling stockholder in similar
situations.

 

9.                 
The undersigned understands and agrees that the undersigned is purchasing Shares directly from the Company. The undersigned
further acknowledges that there have been no representations, warranties, covenants and agreements made to the undersigned by the
Company, or its officers or directors, expressly or by implication, other than those representations, warranties, covenants and
agreements included in this Subscription Agreement.

 

10.             
The undersigned represents and warrants that its acquisition and holding of the Shares will not constitute or result in
a non-exempt prohibited transaction under Section 406 of the Employee Retirement Income Security Act of 1974, as amended, Section
4975 of the Internal Revenue Code of 1986, as amended (the “Code”), or any applicable similar law (a “Prohibited
Transaction”).

 

11.             
The undersigned acknowledges and agrees that the undersigned has received such information as the undersigned deems necessary
in order to make an investment decision with respect to the Shares. Without limiting the generality of the foregoing, the undersigned
acknowledges that it has reviewed the documents provided to the undersigned by the Company and listed on Schedule B hereto
(the “Disclosure Package”). The undersigned represents and agrees that the undersigned and the undersigned’s
professional advisor(s), if any, have had the full opportunity to ask such questions, receive such answers and obtain such information
as the undersigned and such undersigned’s professional advisor(s), if any, have deemed necessary to make an investment decision
with respect to the Shares. The undersigned further acknowledges that the information contained in the Disclosure Package is preliminary
and subject to change, and that any changes to the information contained in the Disclosure Package, including, without limitation,
any changes based on updated information or changes in terms of the Transaction, shall in no way affect the undersigned’s
obligation to purchase the Shares hereunder.

 

12.             
The undersigned became aware of this offering of the Shares solely by means of direct contact between the undersigned and
the Company, and the Shares were offered to the undersigned solely by direct contact between the undersigned and the Company. The
undersigned did not become aware of this offering of the Shares, nor were the Shares offered to the undersigned, by any other means.
The undersigned acknowledges that the Company represents and warrants that the Shares (i) were not offered by any form of general
solicitation or general advertising and (ii) are not being offered in a manner involving a public offering under, or in a distribution
in violation of, the Securities Act, or any state securities laws.

 

    	 	4	 

     

    

 

13.             
The undersigned acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of
the Shares, including those set forth in the Disclosure Package.

 

14.             
The undersigned has such knowledge and experience in financial and business matters as to be capable of evaluating the merits
and risks of an investment in the Shares, and the undersigned has sought such accounting, legal and tax advice as the undersigned
has considered necessary to make an informed investment decision.

 

15.             
Alone, or together with any professional advisor(s), the undersigned represents and acknowledges that the undersigned has
adequately analyzed and fully considered the risks of an investment in the Shares and determined that the Shares are a suitable
investment for the undersigned and that the undersigned is able at this time and in the foreseeable future to bear the economic
risk of a total loss of the undersigned’s investment in the Company. The undersigned acknowledges specifically that a possibility
of total loss exists.

 

16.             
In making its decision to purchase the Shares, the undersigned represents that it has relied solely upon independent investigation
made by the undersigned.

 

17.             
The undersigned understands and agrees that no federal or state agency has passed upon or endorsed the merits of the offering
of the Shares or made any findings or determination as to the fairness of this investment.

 

18.             
The execution, delivery and performance by the undersigned of this Subscription Agreement are within the powers of the undersigned,
have been duly authorized and will not constitute or result in a breach or default under or conflict with any order, ruling or
regulation of any court or other tribunal or of any governmental commission or agency, or any agreement or other undertaking, to
which the undersigned is a party or by which the undersigned is bound, and, if the undersigned is not an individual, will not violate
any provisions of the undersigned’s charter documents, including, without limitation, its incorporation or formation papers,
bylaws, indenture of trust or partnership or operating agreement, as may be applicable. The signature on this Subscription Agreement
is genuine, and the signatory, if the undersigned is an individual, has legal competence and capacity to execute the same or, if
the undersigned is not an individual the signatory has been duly authorized to execute the same, and this Subscription Agreement
constitutes a legal, valid and binding obligation of the undersigned, enforceable against the undersigned in accordance with its
terms.

 

19.             
Neither the due diligence investigation conducted by the undersigned in connection with making its decision to acquire the
Shares nor any representations and warranties made by the undersigned herein shall modify, amend or affect the undersigned's right
to rely on the truth, accuracy and completeness of the Company's representations and warranties contained herein.

 

    	 	5	 

     

    

 

20.             
The undersigned represents and warrants that the undersigned is not (i) a person or entity named on the List of Specially
Designated Nationals and Blocked Persons administered by the U.S. Treasury Department’s Office of Foreign Assets Control
(“OFAC”) or in any Executive Order issued by the President of the United States and administered by OFAC (“OFAC
List”), or a person or entity prohibited by any OFAC sanctions program, (ii) a Designated National as defined in the
Cuban Assets Control Regulations, 31 C.F.R. Part 515, or (iii) a non-U.S. shell bank or providing banking services indirectly to
a non-U.S. shell bank (collectively, a “Prohibited Investor”). The undersigned agrees to provide law enforcement
agencies, if requested thereby, such records as required by applicable law, provided that the undersigned is permitted to do so
under applicable law. The undersigned represents that if it is a financial institution subject to the Bank Secrecy Act (31 U.S.C.
Section 5311 et seq.) (the “BSA”), as amended by the USA PATRIOT Act of 2001 (the “PATRIOT Act”),
and its implementing regulations (collectively, the “BSA/PATRIOT Act”), that the undersigned maintains policies
and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act.  The undersigned also
represents that, to the extent required, it maintains policies and procedures reasonably designed for the screening of its investors
against the OFAC sanctions programs, including the OFAC List. The undersigned further represents and warrants that, to the extent
required, it maintains policies and procedures reasonably designed to ensure that the funds held by the undersigned and used to
purchase the Shares were legally derived.

 

21.             
Neither this Subscription Agreement nor any rights that may accrue to the undersigned hereunder (other than the Shares acquired
hereunder, if any) may be transferred or assigned.

 

22.             
The Company may request from the undersigned such additional information as the Company may deem necessary to evaluate the
eligibility of the undersigned to acquire the Shares, and the undersigned shall provide such information as may reasonably be requested,
to the extent readily available and to the extent consistent with its internal policies and procedures.

 

23.             
The undersigned acknowledges that the Company and others will rely on the acknowledgments, understandings, agreements, representations
and warranties contained in this Subscription Agreement. Prior to the Closing, the undersigned agrees to promptly notify the Company
if any of the acknowledgments, understandings, agreements, representations and warranties set forth herein are no longer accurate.
The undersigned agrees that each purchase by the undersigned of Shares from the Company will constitute a reaffirmation of the
acknowledgments, understandings, agreements, representations and warranties herein (as modified by any such notice) by the undersigned
as of the time of such purchase.

 

24.             
The Company is entitled to rely upon this Subscription Agreement and is irrevocably authorized to produce this Subscription
Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to
the matters covered hereby.

 

25.             
The Company shall not publicly disclose the name of any undersigned or any affiliate or investment adviser of the undersigned,
or include the name of any undersigned or any affiliate of the undersigned in any filing with the SEC (other than in any filings
made in respect of this transaction or in accordance with periodic filing requirements under the Securities Exchange Act of 1934,
as amended, or in connection with the registration statement that the Company is required to file pursuant to the terms of this
Subscription Agreement, in each case to the extent such disclosure is required by law or regulations) or any regulatory agency,
without the prior written consent of such undersigned, except to the extent such disclosure is required by law or regulations,
in which case the Company shall provide the undersigned with prior notice of such disclosure, to the extent such notice is practicable.

 

    	 	6	 

     

    

 

26.             
Other than with respect to the transactions contemplated herein, since the time that the undersigned was first contacted
by the Company or any other Person regarding the transactions contemplated hereby, neither the undersigned nor any affiliate of
the undersigned has directly or indirectly, nor has any person or entity acting on behalf of or pursuant to any understanding with
the undersigned, effected or agreed to effect any purchases or sales of the securities of Terrapin 3 (including, without limitation,
any short sales involving Terrapin 3’s securities). “Short Sales” includes, without limitation, (i) all
“short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, whether or not against
the box, and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, short sales, swaps,
“put equivalent positions” (as defined in Rule 16a-1(h) under the Securities Exchange Act or 1934, as amended) and
similar arrangements (including on a total return basis), and (ii) sales and other transactions through non-U.S. broker dealers
or foreign regulated brokers.

 

THIS SUBSCRIPTION
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES
OF CONFLICTS OF LAWS THAT WOULD OTHERWISE REQUIRE THE APPLICATION OF THE LAW OF ANY OTHER STATE.

 

    	 	7	 

     

    

 

IN WITNESS WHEREOF,
the undersigned has executed or caused this Subscription Agreement to be executed by its duly authorized representative as of the
date set forth below.

 

	Signature of Investor:	Signature of Joint Investor, if applicable:
	 	 
	Name of Investor	Name of Joint Investor, if applicable:
	 	 
	(Please print. Please indicate name and capacity of person signing above) 	(Please Print.  Please indicate name and capacity of person signing above)
	 	 
	Name in  which shares are to be registered (if different):	Date: ______________, 2016 

	 	 
	Email Address:	 
	 	 
	 	 

If there are joint investors, please check
one:

 

 ̈Joint
Tenants with Rights of Survivorship

 

 ̈Tenants-in-Common

 

 ̈Community
Property

 

    	 	8	 

     

    

 

 

	Investor’s EIN:	Joint Investor’s EIN:
	 	 
	Business Address-Street:	Mailing Address-Street (if different):
	 	 
	City, State, Zip:	City, State, Zip:
	 	 
	Attn:__________________	Attn:__________________
	 	 
	Telephone No.:	Telephone No.:
	 	 
	Facsimile No.:	Facsimile No.:
	 	 
	Number of Shares subscribed for:	 
	 	 
	Aggregate Subscription Amount: $	Price Per Share: $10.00

 

You must pay the Subscription
Amount by wire transfer of United States dollars in immediately available funds to the account set forth on Exhibit A attached
hereto (or to such other account specified by the Company in the Closing Notice). To the extent the offering is oversubscribed,
the number of Shares received may be less than the number of Shares subscribed for.

  

    	 	9	 

     

    

 

IN WITNESS WHEREOF,
Yatra Online, Inc. has accepted this Subscription Agreement as of the date set forth below.

 

 

	 	YATRA ONLINE, INC.
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

  

Date:                        , 2016

 

 

    	 	10	 

     

    

 

SCHEDULE A

ELIGIBILITY REPRESENTATIONS OF THE INVESTOR

 

A.        QUALIFIED
INSTITUTIONAL BUYER STATUS

(Please check the applicable
subparagraphs):

 

		 ̈	The Investor is a “qualified institutional buyer” (as defined in Rule 144A under the
Securities Act).

 

B.        ACCREDITED
INVESTOR STATUS

:

 

		 ̈	The Investor is an “accredited investor” (within the meaning of Rule 501(a) under the
Securities Act) for one or more of the following reasons (Please check the applicable subparagraphs):

 

		 ̈	The Investor is an individual (not a partnership, corporation,
etc.) whose individual net worth (excess of total assets at fair market value, including homes, automobiles and personal property,
over total liabilities), or joint net worth with his or her spouse, presently exceeds US$1,000,000. The undersigned further certifies
that all liabilities necessary to make a determination of net worth will be disclosed.

 

		 ̈	The Investor is an individual (not a partnership, corporation,
etc.) who had an income in excess of US$200,000 in each of the two (2) most recent years, or joint income with his or her spouse
in excess of US$300,000 in each of those years (in each case including foreign income, tax exempt income and full amount of capital
gains and losses but excluding any income of other family members and any unrealized capital appreciation) and has a reasonable
expectation of reaching the same income level in the current year.

 

		 ̈	The Investor is a bank, as defined in Section 3(a)(2)
of the Securities Act or any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities
Act, whether acting in an individual or a fiduciary capacity.

 

		 ̈	The Investor is a broker or dealer registered under
Section 15 of the Securities Exchange Act of 1934, as amended.

 

		 ̈	The Investor is an insurance company, as defined in
Section 2(13) of the Securities Act.

 

		 ̈	The Investor is an investment company registered under
the Investment Company Act of 1940 or a business development company, as defined in Section 2(a)(48) of that act.

 

		 ̈	The Investor is a Small Business Investment Company
licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958.

 

		 ̈	The Investor is a plan established and maintained by
a state, its political subdivisions or any agency or instrumentality of a state or its political subdivisions for the benefit
of its employees, if the plan has total assets in excess of $5 million.

 

    	 	Schedule A	 

     

    

 

		 ̈	The Investor is an employee benefit plan within the
meaning of Title I of the Employee Retirement Income Security Act of 1974, if the investment decision is being made by a plan
fiduciary, as defined in Section 3(21) of such act, and the plan fiduciary is either a bank, an insurance company, or a registered
investment adviser, or if the employee benefit plan has total assets in excess of $5 million.

 

		 ̈	The Investor is a private business development company,
as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.

 

		 ̈	The Investor is a corporation, Massachusetts or similar
business trust, or partnership, or an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended,
that was not formed for the specific purpose of acquiring the Securities, and that has total assets in excess of $5 million.

 

		 ̈	The Investor is a trust with total assets in excess
of $5 million not formed for the specific purpose of acquiring the Securities, whose purchase is directed by a sophisticated person
as described in Rule 506(b)(2)(ii) under the Securities Act.

 

		 ̈	The Investor is an entity in which all of the equity
owners are accredited investors.

  

C.        AFFILIATE
STATUS

 

(Please check the applicable
box)

 

THE INVESTOR:

 

		 ̈	is:

 

		 ̈	is not:

 

an
“affiliate” (as defined in Rule 144 under the Securities Act) of the Company or acting on behalf of an affiliate of
the Company.

 

This page should
be completed by the Investor and constitutes a part of the Subscription Agreement.

 

    	 	Schedule A	 

     

    

 

 

SCHEDULE B

DISCLOSURE PACKAGE

 

 

 

    	 	Schedule B	 

     

    

 

 

Exhibit A

 

Wire Transfer Instructions

 

 

 

    	 	Exhibit A

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