UPEES"= TRO LgeL Di Sa\ Sb ‘oidto § SEGT. Pip Cs nam AAEAE TN niguocar shin en 09) TIMOLONTAS IVT. LTO PHP First Amendment ‘To the Agreement for the Provision of Civil Works between Kerneos india Aluminate Technologies Private Limited and Coromandel Engineering Company Ltd THIS FIRST AMENDMENT to the Agreement for the Provision of Civil Works (the “First Amendment”) dated as of May 31, 2017, is entered into by and between : KERNEOS INDIA ALUMINATE TECHNOLOGIES PVT.LTD, a Company registered under the Companies het of 1956 (CIN : U26933W82011PTC163141) having its registered office at #4B-PS Arcadia Central, ‘ith floor, 4A Camac Street, Kolkata 700017, India, duly represented by Mr. Segi P. Idicula, its director, hereinafter referred to as the “Client” or “KERNEOS'” (which expression shall, whenever the context permits, mean and include its successors and assigns), on the one part, AND COROMANDEL ENGINEERING COMPANY LIMITED, a Company registered under the Companies Act ff 1956 {CIN ; L74910TN1947PLCO00343 } having its registered office at Parry House, Vth Floor, 43 Moore Street, Chennai Tamil Nadu - 600 001 India, duly represented by Mr. G. Viswanath, Precutive Vice President hereinafter referred to as the “Service Provider” or “CEC’, on the other part, ‘The Client and the Service Provider shall be hereinafter referred to individually as the “Party” and collectively as the “Parties”. WHEREAS, the Service Provider and the Client entered into an Agreement for Provision of Cw ‘Works dated 10th day of March 2017 (the “Agreement”); and : 4 Page 1 of 3WHEREAS, the Ser Provider and the Client desire to amend the Agreement to reflect certain new understanding between the Parties as set forth below; NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties hereto agree as follows: 1 ‘Terms of Payment for Lot B ‘The Parties wish to modify the terms of payment for Lot 8 in order to provide for an advance payment of the price of Lot B before said price has been agreed upon and become final in accordance to clause 5.1.2 of the Agreement. The Parties agree that the advance payment shall be made on the basis of the estimated price of Lot B as set forth in clause 5.12 (the “Provisional Price of Lot B). ‘As a consequence, the Parties agree that 10% of the Provisional Price of Lot B shall be paid as advance payment on submission of invoice and an Advance Bank Guarantee for an amount corresponding to 10% of Provisional Price of Lot 8, in accordance with Article 6.3 The Advance Bank Guarantee shall be in the form set out in Annexure 1 to this First ‘Amendment and shall be submitted within seven (7) days of the signature of this First ‘Amendment. Until finalization of Lot 8 Price, invoicing and payment shall be made based on the estimated price of each of the parts and/or sub-parts of Lot B as set forth in Annexure 2 to thi Amendment. (On submission of each and every invoice upon completion of a milestone, 10% of invoice value shall be reduced to take into account the 10% advance payment made by KERNEOS pursuant to the above paragraph. Until finalization of Lot B Price, the Parties agree that the Advance Bank Guarantee shall not be reduced. ‘Once Lot 8 Price has been finalized, the Parties will adjust the amounts invoiced and paid accordingly. The Advance Bank Guarantee shall then be reduced so that the remaining guaranteed amount under the Advance Bank Guarantee represent 10 % of the remaining part of Lot B Price (after deduction of the amounts already paid in compliance with the above). Thereafter, the Advance Bank Guarantee shall be reduced proportionally to the invoice value submitted upon completion of respective milestones thereof and shall be reduced to zero payment against Final Certificate. Effective Date ‘The First Amendment shall come into effect as from the date of signature. Wie3. Miscellaneous : i, This First Amendment shall be executed in two (2) counterparts, each of which shall be deemed an original, but both of which when taken together shall constitute one and the same instrument, ji, Except as amended and/or modified by this First Amendment, the Agreement is hereby ratified and confirmed and all other terms of the Agreement shall remain in full force and effect, unaltered and unchanged by this First Amendment. Whether or not specifically ‘amended by this First Amendment, all of the relevant terms and provisions of the ‘Agreement are hereby amended to the extent necessary to give effect to the purpose and intent of this First Amendment. ‘COROMANDEL ENGINEERING COMPANY LIMITED Gp G VISWANATH, EXECUTIVE VICE | PRESIDENT KERNEOS INDIA ALUMINATE. TECHNOLOGIES PVT. LTD. wh | SEGIP IDICULA, DIRECTOR ‘Annexure 1 - Advance Bank Guarantee for Lot B ‘Annexure 2 ~ Split of the Provisional Price Page 3 of 3