LEASE AGREEMENT

This Agreement of Lease is made and executed at Karachi on the ____________________

BETWEEN
Mrs. Raheela Afandi wife of Mr.Sharik Saeed Afandi, Muslim, adult, having her office at 901, 9th floor, Kashif Centre , Shara-e-Faisal, Karachi, holding CNIC No.42301-4638261-8 , (herein after called the LESSOR which expression shall wherever the context so admits, include her heirs, legal representatives and assigns ) of the ONE PART;

AND
Power-Tronics International through its Chief Executive Mr.Pervez Ajmal having its office at 501, Kashif centre, Shara-e-Faisal, Karachi (hereinafter called the LESSEE which expression shall wherever the context so admits, include his successors,executors,legal representatives and assigns) of the OTHER PART; WHEREAS the Lessor warrants that she is the lawful owner of the premises bearing No. 05/01, having covered area of 993 sq.ft or thereabout on 5th floor, , Kashif Centre, Shara-eFaisal, Karachi, hereinafter referred to as the Demised Premises as per plan delineated and annexed herewith. AND WHEREAS the Lessor has agreed to Lease and the LESSEE has agreed to take on Lease the demised Premises for the use of office only.

NOW THEREOFF THE PARTIES AGREE AS FOLLOWS:1) That the Lessor shall and the Lessee shall take the Demised Premises to hold the same unto the Lessee for a period of one (1) year commencing from 1st July 2010 and ending on 30th June 2011. 2) (a) That the fair rent for the demised Premises as mutually agreed shall be Rs.27,500/-(rupees Twenty seven Thousand five hundred Only) per month payable in advance on quarterly basis on the execution of this Lease Agreement. (b) That the Lessor hereby acknowledges the receipt of Rs.82, 500/-(Rupees eighty two thousand five hundred only) vide Cheque No._____________ dated _____________ drawn on _______________________________________ Branch, Karachi, the receipt whereof the Lessor doth hereby admits and acknowledges. (c) That the Lease Agreement is renewable for a further term of one year with 10% increase in rent per annum.All the terms and conditions will remain the same. 3) The Lessee hereby covenants with the Lessor as follows: (a) That the Lessee shall pay the rent to the Lessor as set forth above. The maintenance charges will be paid to Kashif centre Management Association (G) Ltd., at the prevailing rate. (b) That the Lessee shall pay the telephone , electricity, water and conservancy charges in respect of the Demised Premises for the period of the Lease direct to the agencies concerned and supply the copies of the paid bills to the Lessor regularly. (c) That the Lessee shall not have the right to assign or sublet any part of the Demised Premises except with the prior written permission of the Lessor. (d) That the Lessee shall use the Demised Premises for office purpose only.

(e) That in case the Lessee intends to terminate the Agreement, two months advance notice will be given to the Lessor and vice versa. The Lessee will vacate the Premises upon receiving refund of remaining rent paid, if any.

4)

The Lessor hereby covenants with the Lessee as follows:

(a) That the Lessee paying the rent and observing the covenants on its part to performed shall peacefully enjoy the Demised Premises without any interruption by the Lessor or any person lawfully claiming under her or any one else. (b) That the Lessor shall pay the property tax in respect of the Demised Premises in time except the utility bills mentioned in clause3(b). IN WITNESSENES WHEREOFF the parties above named have set and subscribed their respective hands hereunto o at Karachi on the day month and year first above mentioned.

WITNESSES:

__________________________ NAME: Nasrullah C.N.I.C No: 42201-0721038-1 Address: 375-A, Block-5, Gulshan-e-Iqbal, Karachi.

___________________________ Mrs. Raheela Afandi ( The Lessor)

__________________________ Name: C.N.I.C No: Address: .

__________________________ Mr. Pervez Ajmal for and on behalf of the Power-Tronics International (The Lessee)