LEAVE AND LICENSE AGREEMENT

THIS LEAVE AND LICENSE AGREEMENT executed at Mumbai on this the 5 March, 2018
between

ESSEL INFRAPROJECTS LIMITED, CIN No. U74999MH1987P 044006, having its

registered office at 513, 5" Floor, A-Wing, Kohinoor City Mall, Vidyavihar Kirol ‘Road, Off: L
B S Road, Kurla (W), Mumbai - 400070 (hereinafter called the “LICENSOR”, which expression
shall mean and includes its executors, attorneys, administrators and assignees) of the ONE PART

AND

FLY-BY-WIRE INTERNATIONAL PRIVATE LIMITED, CIN No. U62200KA2012PTC064650, a Company

incorporated under Companies Act, 1956 and having its Registered Office at 39, United Mansions, 3rd Floor,
M.G Road, Bangalore 560 001. India, (hereinafter called the “LICENSEE”, which expression shall mean and
includes its executors, attorneys, administrators and assignees) of the SECOND PART

WHEREAS the LICENSOR is absolutely and possessed of and otherwise well and sufficient
entitled to a fully furnished property located at Unit No. 309, 3rd Floor, Kohinoor City, Kirol
Road, LBS Road, Off. BKC, Kurla (West), Mumbai — 400079 having total build-up area of
4,624 sq. ft. (hereinafter referred to as “the said Premises’).

AND WHEREAS the Licensor hereby agrees to allow to use the part area admeasuring 1,500
sq. ft. of the said Demised Premises and the Licensee agrees to take the part of the said Premises
on Leave and License basis as per the terms of this Leave and License Agreement.

NOW BOTH THE PARTIES HAVE DECIDED TO PUT THE FOLLOWING TERMS
AND CONDITIONS IN WRITING.

1. DURATION:

THAT the duration of the Agreement shall be for a period of 2 years commencing from 1st April,
2018. This Agreement can be renewed for a period after the expiry of initial period on such terms
as may be mutually agreed by the parties.

2. LICENSE FEE:
 (a) THAT the License Fee for part of the Demised Premises being allowed for use by the
Licensee shall be Rs. 1,12,500/- (Rupees One Lakh Twelve Thousand Five Hundred
Only) per month.
(b) THAT the License Fees is subject to yearly escalation of 5%.
(c) THAT the agreed amount as stated above shall be paid on or before 10" day of every
calendar month in advance or by way of raising debit notes for this purpose.

3. USE OF PREMISES:

THAT the Licensee shall use the said premises for official purposes only and if there is any
breach by the Licensee on the terms and conditions of this Agreement, the Licensor shall be
entitled to terminate the Agreement with immediate effect. The Licensee is further permitted to
use the part of demised premises as its Registered Office.

4. TAXES:

THAT the property tax shall be paid by the owner of the said premises. However, Goods &
Service Tax if any, on the License Fee shall be borne by the Licensee.

BAR ON SUB-LICENSE:

THAT the Licensee shall not allow to sub-license or part with possession of the demised
property or any part thereof to anyone else or assign or transfer it licensed rights in any manner,
except with prior approval of the Licensor.

PROVISION FOR EARLIER TERMINATION:

THAT if the amount of License Fee as stated in Clause 2 is in arrears for a period of two months
after the same has fallen due or if there is any breach of any terms and conditions of the
Agreement by the Licensee, the Licensor shall issue a notice to the Licensee to clear such arrear
or cure the said breach within 15 days from the receipt of the notice and if the Licensee fails to
comply the same within such stipulated time, in such case the Licensor shall be entitled to
terminate the Agreement with immediate effect.
THAT the either party have the option to terminate the Agreement by giving 1 (One) month
advance notice in writing to the other party.

LICESNOR’S COVENANT:

THAT the Licensor covenant that the Licensee, on duly paying the license Fee hereby reserved
in this Agreement and observing the terms and conditions of this Agreement, shall be entitled to
peaceful possession and quiet enjoyment of the demised premises during the subsistence of the
Agreement.

ARBITRATION:

THAT In case of dispute arising out of the terms and conditions of this Agreement, the matter
shall be referred to a sole arbitrator to be appointed by the consent of both the parties and the
decision of the arbitrator shall be final and binding upon both the parties.

09. JURISDICTION:

This Agreement shall be governed by and interpreted in accordance with the laws of India and
the courts in Mumbai, India shall have the jurisdiction to adjudicate all matters pertaining to this
Agreement in exclusion to any other courts.

IN WITNESS WHEREOF THE PARTIES HERETO HAVE SIGNED THIS

AGREEMENT IN THE PRESENCE OF FOLLOWING WITNESSES ON THE DATE,
MONTH AND YEAR MENTIONED ABOVE.

For Essel Infraprojects Limit

(Licensor)

Witness: aS Witness: Ara.

name: Qnwtty nrev7kA tame: ANN AD HWA

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