LEASE AGREEMENT

This Lease Agreement (“AGREEMENT “) is made on this 14th March 2016

BY AND BETWEEN

Jitendra D Majethia and Kashyap J Majethia, both residing at “Aalishan” Krishna Nagar,
Hubli-580029, “LESSORS” which expression shall unless repugnant to the context or meaning
thereof include their heirs, executors, administrators and assigns of the ONE PART.

AND
M/s. Logistimo India Private Limited a company incorporated under companies act 1956
having its registered office at resgitered office : CROWN POINT, #36, Ground Floor, , Lavella
Road, Kasturba cross Road, Bangalore –560 001 and represented by its Director & CEO Mr.
Anup Akkihal, “LESSEE” which term, wherever the context permits include its heirs,
executors, administrators and assigns of the OTHER PART.

The LESSORS and the LESSEE are hereinafter individually referred to as “PARTY” and
collectively referred to as the “PARTIES”

WHEREAS

1. The LESSORS are joint and absolute owners of the fully furnished premises at
CROWN POINT, #36, Second Floor, , Lavella Road, Kasturba cross Road, Bangalore –
560 001, more fully described in the schedule hereto and referred to as the
“PREMISES”

2. The LESSORS represent that the PREMISES is free from all encumbrances whatsoever
and that they have a clean and unrestricted right and title thereto and are legally
permitted and competent to enter into this AGREEMENT.

3. The LESSEE is desirous of taking the PREEMISES on lease from the LESSORS and the
LESSORS have agreed to lease the PREMISES to the LESSEE subject to the terms and
conditions mentioned below :

NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN

THE PARTIES HERETO AS FOLLOWS

1. Period of lease :
1.1 The lease for the Premises shall be for a period of Five (5) years from
14.03.2016 to 28.02.2021

1.2 Proposed Lessee shall have an option to renew the term of the lease for
another three (3) years (second term). However, a fresh lease deed will be
entered into for each renewal before the expiry of respective terms. The terms
for the renewal terms shall be mutually discussed and agreed between both the
parties.

1.3 Lock in period is 36 Months ( 3 Years) effective from Rent commencement date. i,e
after completion of interior.
 1.4 The effective rent commencement date is after 15th May 2016 and before 1st June
2016 whichever is early while handing over pocession of premises.

1.5 The Lessee shall be solely entitled to terminate the lease for convenience, by
providing 3 months written notice to the Lessors after the Lock-in period.

2. Rent :

2.1 The LESSEE shall pay a sum of Rs.3,56,250/- ( Rupees Three Lakh Fifty Six
Thousand Two Hundred Fifty Only ) plus applicable service tax per month as rent &
inclusive if maintenance towards the lease of the PREMISES which shall be paid, on
or before 10th of every month to the LESSORS in the following manner:

Rs.1,78,125/- ( Rupees One Lakh Seventy Eight Thousand One Hundred

Twenty Five Only) shall be paid to Mr.Jitendra D Majethia and

Rs.1,78,125/- (Rupees One Lakh Seventy Eight Thousand One Hundred Twenty
Five Only) shall be paid to Mr.Kashyap J Majethia

2.2 The Lessors will issue every month Rent Invoice in favour of Lessee.

2.3 The rent payable shall be subject to the deduction of income tax at Source, if any, at
such rate as is required by law

2.4 The LESSORS shall on request by the LESSEE give a duly stamped receipt
acknowledging due payment by the LESSEE of the monthly rent.

2.5 The escalation in Rent is 5% after completion of one year on last rent paid

3. Other Costs :

3.1 In addition, the LESSEE shall be liable to pay the charges for electricity/
Generator consumed by the LESSEE at actual as per the sub meter installed in the
PREMISES. The LESSORS represent that 35 KVA power supply is available for the
premises & 100% DG Backup Power Provided.

4. Security Deposit :

4.1 The Lessee would pay an interest free refundable security deposit of
Rs.33,75,000/- (Rupees Thirty Three Lakh Seventy Five Thousand only)
equivalent to 10 months gross rent in favor of Mr.Jitendra D. Majethia &
Mr.Kashayp J. Majethia.
4.2 The Lessee paid by way of RTGS equally while signing the Lease Agreement in
favor of Mr.Jitendra D. Majethia Rs.16,87,500/- ( Rupess Sixteen Lakh Eighty
Seven Thousand Five Hundred Only) & Mr.Kashyap J. Majethia Rs.16,87,500/-
(Rupees Sixteen Lakh Eighty Seven Thousand Five Hundred Only) The Lessors
acknowledge the same.
5. Parking :
The lessor will provide 3 Car Park within Premises at No Extra Cost.

6. Scope of Maintenance:
The following are Scope of Maintenance outside Leased Premises and within
the building area.
 Building Management (HouseKeeping, Security, EM, Pest control, Gardenin etc)
 AMC for Lifts, Fire Protection Systems,Transformers,L T Panels,Mechanical
Ventilation systems etc , Repair & Maintenance: Civil Works-building repairs,
paintings, Carpentry works, Fabrication, Landscaping, Fire Services spares,
Electrical Inspection /Licence /Testing,etc, Consumables- Electrical & plumbing,
Electromechanical works, Façade Cleaning.
 Common Area Elecricity charges,
 Common Area DG Charges,
 Water charges
 Administrative cost

7. Other Terms :

7.1 The LESSEE shall use the PREMISES for office purpose only and for no other purpose
whatsoever. The LESSEE may use the PREMISES for the conduct of all legal business
which the company is authorized to carry on.

7.2 If the monthly rent payable stated in Clause 2 herein is in arrears for a period of 3
months after the same has fallen due the LESSORS shall be entitled to terminate the
AGREEMENT with immediate effect and re-enter upon the PREMISES.

8. LESSORS’ Covenants :

8.1 The LESSORS hereby agrees to bear and pay and discharge all existing and future taxes,
charges, Water charges, assessments or outgoing whatsoever in respect of the
PREMISES including land revenue. On request the LESSORS shall provide the LESSEE
with copies of receipt for payments made under this sub – clause

8.2 The LESSORS hereby covenants that the LESSEE paying the rent hereby reserved
and observing and performing the several covenants on the LESSEE’S part herein
contained, shall quietly enjoy the PREMISES during the term of lease without
interruption by the LESSORS or any person claiming under or in trust for the
LESSORS or otherwise howsoever.

9. LESSEE’S Covenants :

9.1 The LESSEE shall keep and maintain the PREMISES in good condition and shall repair
and make good at its own expense any minor damages or loss to the PREMISES
reasonable wear and tear excepted.

9.2 No structural alterations or additions shall be carried out by the LESSEE without the
prior written consent of the LESSORS However, the LESSEE shall be at lliberty to have
any extra fittings and fixtures on the PREMISES including air-conditioning,
 installation of pipes, cables, etc., remove them on termination/ determination of the
lease as contained in this AGREEMENT.

9.3 The LESSEE shall not part with possession of the PREMISES or any part thereof
without the consent of the LESSORS. The LESSEE shall not sublet the PREMISES to any
third party without prior written approval from the LESSORS. However, allowing sister
companies, or associate concerns to use the PREMISES shall not be deemed to be
subletting of the PREMISES.

9.4 The LESSEE shall use the PREMISES in a reasonable manner without being a nuisance or
annoyance to its neighbors.

9.5 The LESSEE shall not keep or store in or upon any part of the PREMISES any goods of
combustible or explosive nature.

9.6 The LESSEE shall permit the LESSORS or their agents or representative at all
reasonable times during the period of Lease to enter upon the PREMISES for
inspection of state and condition of the same after giving at least 24 hours prior
written notice to the Lessee.

10 Force Majeure :

In the event that the PREMISES or part thereof becomes unfit for possession or
occupation or use by the LESSEE due to any unforeseen circumstances, tempest, flood,
earthquake, act of God or caused not due to any acts of commission, omission or
negligence of the LESSEE, so as to become unfit for occupation or use, the LESSORS
shall set right the defect and make the PREMISES fit for possession or occupation or
use within the mutually agreed time frame, which in any case shall not exceed 30
(Thirty) days. The LESSEE acknowledges that this AGREEMENT shall continue to
survive the remaining period of term of lease. However, the LESSEE shall not pay rent
from the date of notice up to the date when PREMISES becomes fit for occupation or
use. If the LESSORS fail to remedy the defect within the said time limit, the LESSEE is
free to terminate this AGREEMENT and claim the refund of the SECURITY DEPOSIT.

11 Notice :

Any notice to be served at the address first mentioned above to the LESSORS or the
LESSEE shall be deemed to be properly served if sent by registered post
acknowledgement due or certified mail. Notices shall be deemed effective upon receipt
or, if delivery is not effected by reason of some fault of the addressee, when tendered.

12 Governing Law and Jurisdiction :

Any disputes differences or claims arising between the PARTIES in connection with
this AGREEMENT or the construction or interpretation of any of the Clauses hereof or
anything done or omitted to be done pursuant thereto, shall be governed by and
construed in accordance with the laws of India and the courts at Bangalore alone will
have jurisdiction to try any such suit or proceedings.

13 General Provisions :
 13.1 Entire Agreement: This AGREEMENT along with the schedule set forth forms the
entire agreement and understanding between the PARTIE relating to the subject
matter hereof and supersedes and merges all prior discussions between the
PARTIES. No modification of or amendments to this AGREEMENT, nor any waiver of
any rights under this AGREEMENT will be effective unless agreed to in writing and
signed by both the parties.

13.2 Severability: If one or more of the provisions in this AGREEEMNT are deemed
unenforceable by law then the remaining previsions will continue in full force and
effect.

13.3 Waiver: No waiver by a Party of any breach of this AGREEMENT shall be a waiver of
any preceding or succeeding breach. No waiver by either Parties of any right under
this AGREEMENT shall be constructed as a waiver of any other right

SCHEDULE

LEASED PREMISES

All that pieces and parcels of immovable property situated in the Second Floor
measuring 3750 Sq.ft of super built up area which are fully fitted and furnished with the
fixtures and fittings as provided hereunder together with two (3 )car parks and the
portion of the terrace for use of cafeteria together with the right in proportionate common
area of the building popularly known as “ CROWN POINT” which is constructed on the
on the land bearing Municipal No.36 (Old No.19), Kasturba Cross Road, Lavella Road,
Bangalore 560001 and bounded:

 East by : Lavella Road,

 West by : Premises ( Old No. 19K and New No.37)
 North by : Kasturba Cross Road,
 South by : Property bearing Municipal No.26/1, Lavella Road.

15

Lessors: ______________ Lessee: __________________

Name : Mr. Jitendra D.Majethia
Name : Mr. Anup Akkihal

Signature : _______________________ Designation : Director & CEO

M/s.Logistimo India Private
Limited.

Name : Mr. Kashyap J.Majethia

Signature : _________________________ Signature : ________________________

Date : _________________________ Date : __________________________