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EXHIBIT 10.12

AMENDMENT TO CREDIT AGREEMENT

This agreement is dated as of August 23, 2005 by and between Syntel, Inc. (the
"Borrower") and JPMorgan Chase Bank, N.A. (the "Bank"), and its successors and
assigns. The provisions of this agreement are effective on the date that this
agreement has been executed by all of the signers and delivered to the Bank
("Effective Date").

WHEREAS, the Borrower and the Bank entered into a credit agreement dated October
15, 2002, as amended (if applicable) (the "Credit Agreement"); and

WHEREAS, the Borrower has requested and the Bank has agreed to amend the Credit
Agreement as set forth below;

NOW, THEREFORE, in mutual consideration of the agreements contained herein and
for other good and valuable consideration, the parties agree as follows:

1.   DEFINED TERMS. Capitalized terms not defined herein shall have the meaning
     ascribed in the Credit Agreement.

2.   MODIFICATION OF CREDIT AGREEMENT. The Credit Agreement is hereby amended as
     follows:

     2.1  From and after the Effective Date, the provision in the Credit
          Agreement under Section 1.2 captioned "Facility A (Line of Credit)" is
          hereby amended and restated to read as follows:

          1.2  FACILITY A (LINE OF CREDIT). The Bank has approved a credit
               facility to the Borrower in the principal sum not to exceed
               $15,000,000.00 in the aggregate at any one time outstanding
               ("Facility A"). Credit under Facility A shall be repayable as set
               forth in a Line of Credit Note dated August 19, 2004, and any
               renewals, modifications or extensions thereof. The proceeds of
               Facility A shall be used for the following purpose: working
               capital.

               LETTER OF CREDIT SUB-LIMIT. At any time the Borrower is entitled
               to an advance under Facility A, the Bank agrees to issue letters
               of credit for the account of the Borrower in an amount not in
               excess of the maximum advance that the Borrower would then be
               entitled to obtain under Facility A, provided that (a) the
               aggregate maximum amount which is drawn and remains unreimbursed
               under all letters of credit plus the aggregate maximum available
               amount which may be drawn under all letters of credit which are
               outstanding at any time, including without limitation all letters
               of credit issued for the account of the Borrower which are
               outstanding on the date of the Line of Credit Note, shall not
               exceed $5,000,000.00, (b) the issuance of any letter of credit
               with an expiration date beyond the maturity date of the Line of
               Credit Note shall be entirely at the discretion of the Bank, (c)
               any letter of credit shall be a standby letter of credit and the
               form of the requested letter of credit shall be satisfactory to
               the Bank, in the Bank's sole discretion, and (d) the Borrower
               shall have executed an application and reimbursement agreement
               for any letter of credit in the Bank's standard form. While any
               letter of credit is

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               outstanding, the maximum amount of advances that may be
               outstanding under the Line of Credit Note shall be automatically
               reduced by the maximum amount available to be drawn under any and
               all such letters of credit plus the aggregate of the amounts
               which have been drawn and remain unreimbursed under all letters
               of credit. The Borrower shall pay the Bank a fee for each standby
               letter of credit that is issued, calculated at the rate of 1.00%
               per annum of the original maximum amount available of such
               standby letter of credit, with such fee being calculated on the
               basis of a 360-day year and the actual number of days in the
               period during which the standby letter of credit will be
               outstanding; provided, however, that such fee shall not be less
               than $500.00 for each letter of credit. No credit shall be given
               for fees paid due to early termination of any letter of credit.
               The Borrower shall also pay the Bank's standard transaction fees
               with respect to any transactions occurring on an account of any
               letter of credit. Each fee shall be payable when the related
               letter of credit is issued, and transaction fees shall be payable
               upon completion of the transaction as to which they were charged.
               All fees may be debited by the Bank to any deposit account of the
               Borrower carried with the Bank without further authority and, in
               any event, shall be paid by the Borrower within ten (10) days
               following billing.

3.   RATIFICATION. The Borrower ratifies and reaffirms the Credit Agreement and
     the Credit Agreement shall remain in full force and effect as modified
     herein.

4.   BORROWER REPRESENTATIONS AND WARRANTIES. The Borrower represents and
     warrants that (a) the representations and warranties contained in the
     Credit Agreement are true and correct in all material respects as of the
     date of this agreement, (b) no condition, act or event which could
     constitute an event of default under the Credit Agreement or any promissory
     note or credit facility executed in reference to the Credit Agreement
     exists, and (c) no condition, event, act or omission has occurred, which,
     with the giving of notice or passage of time, would constitute an event of
     default under the Credit Agreement or any promissory note or credit
     facility executed in reference to the Credit Agreement.

5.   FEES AND EXPENSES. The Borrower agrees to pay all fees and out-of-pocket
     disbursements incurred by the Bank in connection with this agreement,
     including legal fees incurred by the Bank in the preparation, consummation,
     administration and enforcement of this agreement.

6.   EXECUTION AND DELIVERY. This agreement shall become effective only after it
     is fully executed by the Borrower and the Bank.

7.   ACKNOWLEDGEMENTS OF BORROWER. The Borrower acknowledges that as of the date
     of this agreement it has no offsets with respect to all amounts owed by the
     Borrower to the Bank arising under or related to the Credit Agreement on or
     prior to the date of this agreement. The Borrower fully, finally and
     forever releases and discharges the Bank and its successors, assigns,
     directors, officers, employees, agents and representatives from any and all
     claims, causes of action, debts and liabilities, of whatever kind or
     nature, in law or in equity, of the Borrower, whether now known or unknown
     to the Borrower, which may have arisen in connection with the Credit
     Agreement or the actions or omissions of the Bank related to the Credit
     Agreement on or prior to the date hereof. The Borrower acknowledges and
     agrees that this agreement is

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     limited to the terms outlined above, and shall not be construed as an
     agreement to change any other terms or provisions of the Credit Agreement.
     This agreement shall not establish a course of dealing or be construed as
     evidence of any willingness on the Bank's part to grant other or future
     agreements, should any be requested.

8.   NOT A NOVATION. This agreement is a modification only and not a novation.
     Except for the above-quoted modification(s), the Credit Agreement, any loan
     agreements, credit agreements, reimbursement agreements, security
     agreements, mortgages, deeds of trust, pledge agreements, assignments,
     guaranties, instruments or documents executed in connection with the Credit
     Agreement, and all the terms and conditions thereof, shall be and remain in
     full force and effect with the changes herein deemed to be incorporated
     therein. This agreement is to be considered attached to the Credit
     Agreement and made a part thereof. This agreement shall not release or
     affect the liability of any guarantor of any promissory note or credit
     facility executed in reference to the Credit Agreement or release any owner
     of collateral granted as security for the Credit Agreement. The validity,
     priority and enforceability of the Credit Agreement shall not be impaired
     hereby. To the extent that any provision of this agreement conflicts with
     any term or condition set forth in the Credit Agreement, or any document
     executed in conjunction therewith, the provisions of this agreement shall
     supersede and control. The Bank expressly reserves all rights against all
     parties to the Credit Agreement.

                                        Borrower: Syntel, Inc.

                                        By: /S/ Bharat Desai
                                            ------------------------------------
                                            Bharat Desai   CEO
                                            Printed Name   Title
                                        Date Signed: August 26, 2005

                                        By: /S/ R. S. Ramdas
                                            ------------------------------------
                                            R.S. Ramdas    V.P. Finance
                                            Printed Name   Title
                                        Date Signed: August 26, 2005

                                        Bank:
                                        JPMorgan Chase Bank, N.A.

                                        By: /S/ Jane E. Bowman
                                            ------------------------------------
                                            Jane E. Bowman   SVP
                                            Printed Name     Title

                                        Date Signed: August 26, 2005

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                                                                   EXHIBIT 10.36

                                BUSINESS PURPOSE
                                CONVERTIBLE NOTE

$6,000,000.00                                  Southfield, Michigan

                                               Dated: December 20, 2005

                                      TERMS

Principal Sum:                    Six Million and no/100 ($6,000,000.00) Dollars

Effective Interest Rate:          Three Month LIBOR plus 5.20%

Commencement Date:                December 20, 2005

Due Date:                         December 20, 2010

         FOR VALUE RECEIVED and as provided in this Convertible Note ("Note")
the undersigned, including all endorsers ("Debtor"), jointly and severally
promise(s) to pay to the order of MEADOWBROOK INSURANCE GROUP, INC., a Michigan
corporation (or any holder of this Note, which collectively are referred to as
"Lender") at its offices located at 26255 American Drive, Southfield, Michigan
48034 or such other place as Lender may designate in writing, the Principal Sum
together with interest as provided in this Note.

         The unpaid indebtedness under this Note shall be repayable to Lender in
lawful money of the United States of America, and all principal indebtedness
shall bear interest on the basis of a year of 360 days for the actual number of
days elapsed at a rate of interest equal to the "Effective Interest Rate" before
demand, and at the Effective Interest Rate plus three (3%) percent per annum
("Maturity Rate") after an Event of Default (as defined in that certain Loan and
Security Agreement dated December 20, 2005 between Borrower and Lender [the
"Loan Agreement"]). Interest shall accrue from the date the Lender disburses the
loan proceeds, whether disbursed to the Debtor, for the benefit of Debtor, or to
a third party designated by Debtor.

         Beginning on the Commencement Date and continuing on the same day (or,
if there is no "same day," the last day of the month) of each subsequent month
until an Event of Default, Debtor shall pay Lender interest on the unpaid
principal balance of the loan at the Effective Interest Rate.

         ALL OUTSTANDING PRINCIPAL, LATE PAYMENT CHARGES AND ACCRUED AND UNPAID
INTEREST SHALL BE DUE AND PAYABLE ON THE DUE DATE.

         This Note may not be prepaid, in full or in part, at any time, except
as provided in the Loan Agreement without the express written consent of Lender,
which consent may be withheld in Lender's sole and absolute discretion.

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         All payments made under this Note shall be applied in the following
order: First to late payment charges, then to interest, then to advances and
last to principal. The Debtor acknowledges the payments required under this Note
might not fully amortize the indebtedness evidenced by the Note and the final
payment due at the Due Date accordingly might be a balloon payment comprising
all the outstanding principal, late payment charges, advances and interest then
due.

         The Lender will credit any payment made by mail or night depository
only upon the day of actual receipt by Lender, whether or not Lender has
authorized payment by mail. Debtor expressly assumes all risks of loss or
liability resulting from non-delivery or delay in delivery of any payment
transmitted by mail, and no course of conduct or dealing shall affect Debtor's
assumption of these risks.

         If any payment due under this Note shall become overdue for a period in
excess of five (5) days and for which the Maturity Rate is not in effect, the
Debtor shall pay to the Lender a "late payment charge" equal to four (4%)
percent of the delinquent payment to defray the expense incidental to handling
such delinquent payment and not as a penalty. Acceptance of payment of a late
payment charge shall not waive any default under this Note.

         Upon the occurrence of an Event of Default (as defined in the Loan
Agreement), this Note and all other obligations and indebtedness of the Debtor
to the Lender, whether absolute or contingent, direct, present or future, and
however evidenced, shall become and shall be immediately due and payable.

         If: (a) this Note or any loan document is referred to an attorney after
demand for collection or enforcement or is collected or enforced through any
legal proceeding; (b) an attorney is retained to represent the Lender in any
bankruptcy, reorganization, receivership or other proceedings affecting
creditors' rights and involving a claim under this Note or any loan document;
(c) an attorney is retained to protect or enforce any mortgage or lien securing
this Note; or (d) an attorney is retained to represent the Lender in any action
arising out of any claim by Debtor or any other person against the Lender which
would not have been asserted were it not for Lender's relationship with the
Debtor, then the Debtor shall pay to the Lender all costs and expenses and
actual attorney fees incurred by the Lender in addition to all other amounts due
under this Note.

         Acceptance by Lender of any payment in an amount less than the amount
then due shall be deemed an acceptance on account only. No forbearance by Lender
in enforcing any of its rights under this Note, nor any renewal, extension, or
modification of any payment to be made under this Note, nor any acceptance by
Lender of any payment in an amount less than the amount then due under this Note
shall constitute a waiver of any of the terms of this Note or of any of Lender's
rights under this Note. The Lender shall not by any act of omission or
commission be deemed to waive any of its rights or remedies under this Note
unless such waiver is in writing and signed and delivered by an authorized
officer of the Lender and then only to the extent specifically set forth in the
writing. No waiver shall operate as a waiver of the same right or remedy on a
future occasion.

         The rights, remedies, and benefits provided to the Lender in this Note
and in documents given to secure the payment of this Note shall be cumulative,
and shall not be exclusive of any other rights, remedies or benefits allowed by
law or equity, and may be exercised either successively or concurrently.

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         It is the intention of Debtor and Lender to conform strictly to state
and federal usury laws applicable to this loan transaction in permitting the
highest rate of interest. Accordingly, the aggregate of all interest as
determined under applicable law, chargeable or receivable under this Note or
otherwise in connection with this loan transaction shall under no circumstances
exceed the maximum amount of interest permitted by law. If any excess of
interest in such respect is provided for, or shall be adjudicated to be so
provided for in this Note, or in any of the documents securing payment of this
Note or otherwise relating to this loan transaction then in such event (a) the
provisions of this paragraph shall govern and control, (b) neither the Debtor
nor the Debtor's successors and assigns or any other party liable for the
payment of this Note shall be obligated to pay the amount of such interest to
the extent that it is in excess of the maximum permitted by law and (c) the
Effective Interest Rate shall be automatically subject to reduction to the
maximum lawful contract rate allowed under such laws, as now or subsequently
construed by courts of appropriate jurisdiction.

         The term "Lender" includes any holder of this Note. If more than one
party signs, guarantees or acts as a surety for this Note, then the term
"Debtor" shall mean all of them and any one of them and their obligations under
this Note shall be joint and several.

         The Debtor jointly and severally waives valuation and appraisement,
demand, notice of protest or protest, presentment for payment, notice of
nonpayment, dishonor and notice of dishonor and all other notices in connection
with the exercise or enforcement of the Lender's rights or remedies, or any
defense by reason of extension of time, renewals or other indulgences granted by
Lender with respect to the Debtor or any of the collateral securing this Note.
Debtor consents to any and all extensions of time, renewals, waivers, or
modifications that may be granted by the Lender with respect to the payment or
other provisions of this Note and consents to the release of any collateral
given to secure the payment of this Note or of any part thereof, with or without
substitution. Debtor agrees that additional makers, accommodation parties, or
guarantors may become parties to this Note without notice to Debtor or affecting
Debtor's liability under this Note. The liability to Lender of each person or
entity signing this Note shall be absolute and unconditional, without regard to
the liability of any other person or entity.

         The invalidity of any of the provisions in this Note shall not affect
any remaining provisions which can be given effect without the invalid
provision. To this end, the provisions of this Note are declared to be
severable.

         This Note is secured by the Loan Agreement, the Unlimited Personal
Guaranty of J. Bruce Cochrane and Janet H. Cochrane, his wife and the Unlimited
Guaranty of Cochrane & Porter Insurance Agency, Inc. and Renaissance Insurance
Agency, Inc.

         Reference is also made to the security documents for additional terms
relating to the transaction giving rise to this Note, the security given for the
Note, and additional terms, agreements, representations and conditions of the
loan evidenced by this Note including, but not limited to, certain conversion
rights granted to the holder. If there is any express conflict between the terms
and provisions of this Note and those contained in any security document, the
terms and provisions of this Note shall govern and control.

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         This Note has been delivered for value in Michigan, and shall be deemed
executed in the State of Michigan. The liability of the Debtor shall be governed
by, construed and enforced according to the laws of the State of Michigan.

                             "DEBTOR"

                             RIG, LLC, a Massachusetts limited liability company

                             By:   /s/ J. Bruce Cochrane
                                   -----------------------------------

                             Its:  President
                                   -----------------------------------

                             Federal Tax I.D. No.:
                                                   -------------------

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