LEASE

TR FOW/CO4/38

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1923 (31 Jan)

[Copy]

Party 1: John Fowler & Co., (Leeds) Ltd., - registered in England, with a place of business in Bombay.

Party 2: Glenfield & Kennedy Ltd., - registered under the English Companies Acts. Of the rear portion of the first floor (about 1,000 square feet) of Fowler Building, on the south side of Goa Street, Bombay, with rights to use entrance halls, passages and the lift in the building for egress and regress. The lift is only for use 9.00 a.m. - 6.30 p.m., and not on Sundays and public holidays. Lease is for three years eight months from 1923(1 Jan) at a monthly rent of 350 rupees, payable on the first of each month, commencing 1923(1 Feb). Terms include:

i. Party 2 to pay the rent; maintain and repair the interior, including decoration; to use the premises for business only; not to cause annoyance to other occupants or jeopardise fire insurance policy; not to assign, underlet or part with the premises.

ii. Party 1 to pay rates and taxes, but not gas and electricity charges; to light and clean all entrances and passages; to let Party 2 affix a name plate or board in the main entrance hall; to maintain exterior, approaches and drainage; to provide necessary electric wiring and points, but not fittings and fans.

iii. Provisions for breach of lease, rent arrears and destruction of premises to protect Party 1.

iv. Lease renewable by Party 2 by written statement three months prior to its termination, for a further five years.

v. If any rates increase by the Municipal Corporation of Bombay, such a sum to be divided equally between the two parties.

English