<SEC-DOCUMENT>0000880266-17-000025.txt : 20170727
<SEC-HEADER>0000880266-17-000025.hdr.sgml : 20170727
<ACCEPTANCE-DATETIME>20170727172149
ACCESSION NUMBER:		0000880266-17-000025
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20170724
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170727
DATE AS OF CHANGE:		20170727

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AGCO CORP /DE
		CENTRAL INDEX KEY:			0000880266
		STANDARD INDUSTRIAL CLASSIFICATION:	FARM MACHINERY & EQUIPMENT [3523]
		IRS NUMBER:				581960019
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12930
		FILM NUMBER:		17987121

	BUSINESS ADDRESS:	
		STREET 1:		4205 RIVER GREEN PKWAY
		CITY:			DULUTH
		STATE:			GA
		ZIP:			30096
		BUSINESS PHONE:		7708139200

	MAIL ADDRESS:	
		STREET 1:		4205 RIVER GREEN PARKWAY
		CITY:			DULUTH
		STATE:			GA
		ZIP:			30096
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a8-k2017tafeagreements.htm
<DESCRIPTION>8-K
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2017 Workiva -->
		<title>Document</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="sC4B73FDBFAC15FECA702184F67118421"></a></div><div style="line-height:120%;"><hr></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:inherit;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:inherit;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:inherit;font-size:15pt;font-weight:bold;">UNITED STATES</font></div><div style="line-height:120%;text-align:center;font-size:16pt;"><font style="font-family:inherit;font-size:16pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WASHINGTON, D.C. 20549</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">___________________________</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">FORM 8-K</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Current Report</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Dated July 24, 2017 </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">of</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:20pt;"><font style="font-family:inherit;font-size:20pt;font-weight:bold;">AGCO CORPORATION</font></div><div style="line-height:120%;text-align:center;font-size:16pt;"><font style="font-family:inherit;font-size:16pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">A Delaware Corporation</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">IRS Employer Identification No. 58-1960019</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SEC File Number 1-12930</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">4205 River Green Parkway</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Duluth, Georgia  30096</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">(770) 813-9200</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;"><hr></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">o</font><font style="font-family:inherit;font-size:12pt;">&#32;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">o</font><font style="font-family:inherit;font-size:12pt;">&#32;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">o</font><font style="font-family:inherit;font-size:12pt;">&#32;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">o</font><font style="font-family:inherit;font-size:12pt;">&#32;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;"><hr></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sA5532300A7435A03B4498CD30B7F3494"></a></div><div><br></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Item 1.01.&#160;&#160;&#160;&#160;Entry into a Material Definitive Agreement.  </font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">On July 24, 2017, a subsidiary of AGCO Corporation (the &#8220;Company&#8221;) entered into a letter agreement with Tractors and Farm Equipment Limited (&#8220;TAFE&#8221;) providing for the supply of certain MF Heritage tractors for certain southeast Asian markets, including Vietnam, Indonesia, Philippines, Thailand, Malaysia, Fiji and Papua New Guinea.  The letter agreement expires in February 2020, and is terminable in advance of that date under certain circumstances.  A copy of this letter agreement is attached to this report as Exhibit 10.1 and is incorporated by reference.  </font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">On July 24, 2017, a subsidiary of the Company entered into a letter agreement with TAFE providing for the supply of certain MF Heritage tractors for Mexico.  The letter agreement expires in October 2019, and is terminable in advance of that date under certain circumstances.  A copy of this letter agreement is attached to this report as Exhibit 10.2 and is incorporated by reference.  </font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">On July 24, 2017, a subsidiary of the Company entered into a letter agreement with TAFE providing for the supply of certain MF Heritage tractors for Australia and New Zealand.  The letter agreement expires in February 2020, and is terminable in advance of that date under certain circumstances.  A copy of this letter agreement is attached to this report as Exhibit 10.3 and is incorporated by reference.  </font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">On July 24, 2017, a subsidiary of the Company entered into an amendment to a prior letter agreement with TAFE providing for the supply of certain MF Heritage tractors for certain countries in Africa.  The amendment narrows the territory covered by the agreement to Angola, Kenya, Malawi, Morocco, Nigeria and South Africa (from the entirety of Africa).  A copy of the amendment is attached to this report as Exhibit 10.4 and is incorporated by reference.  </font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The terms and conditions governing the pricing and other details of the products supplied under these agreements are specified in existing agreements between a subsidiary of the Company and TAFE.  </font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Item 9.01.&#160;&#160;&#160;&#160;Financial Statements and Exhibits. </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(d)&#160;&#160;&#160;&#160;Exhibits</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">10.1&#160;&#160;&#160;&#160;Letter Agreement for Far East Markets, dated July 24, 2017, between AGCO International GmbH and Tractors and Farm Equipment Limited</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">10.2&#160;&#160;&#160;&#160;Letter Agreement for Mexico, dated July 24, 2017, between AGCO International GmbH and Tractors and Farm Equipment Limited</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">10.3&#160;&#160;&#160;&#160; Letter Agreement for Australia/New Zealand, dated July 24, 2017, between AGCO International GmbH and Tractors and Farm Equipment Limited </font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">10.4&#160;&#160;&#160;&#160;Amendment to the Letter Agreement for Africa, dated July 24, 2017, between AGCO International GmbH and Tractors and Farm Equipment Limited</font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><div><br></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">SIGNATURES</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:11pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:right;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;text-align:-moz-right;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:47.64957264957265%;border-collapse:collapse;text-align:left;margin-left:auto;margin-right:0;"><tr><td colspan="2"></td></tr><tr><td style="width:16%;"></td><td style="width:84%;"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">AGCO Corporation</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By:</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">/s/ Andrew H. Beck</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Andrew H. Beck</font></div><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Senior Vice President and Chief Financial Officer</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Dated: July 27, 2017</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div>	</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex101-agcoxletteragreement.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2017 Workiva -->
		<title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s71FB0464D1F0CB40C42085088C8193E2"></a></div><div></div><div><br></div><div style="line-height:180%;text-align:right;text-indent:480px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.1</font></div><div style="line-height:180%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Letter Agreement for Far East Markets</font></div><div style="line-height:180%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Between</font></div><div style="line-height:180%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AGCO International GmbH, Neuhausen, Switzerland (&#8220;AGCO&#8221; which <br>expression shall include its successors and assigns)</font></div><div style="line-height:180%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">and</font></div><div style="line-height:180%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Tractors and Farm Equipment Limited (collectively referred to as <br>&#8220;TAFE&#8221; which expression shall include its successors and assigns)</font></div><div style="line-height:180%;padding-left:0px;text-align:justify;text-indent:0px;"><font style="text-align:justify;font-family:inherit;font-size:12pt;padding-right:28px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">PURCHASE AND SALE</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE agrees to supply the MF Heritage (including MF 2600 series) tractors 35HP to 85HP range (appropriate for the market in the Territory as mutually agreed upon between the parties) (&#8220;MF Heritage Products&#8221;) exclusively to AGCO (or any of its subsidiary/associate companies) for resale in certain specified Far East Markets covered as detailed (&#8220;Territory&#8221;) solely through the AGCO distribution network. The markets covered by this Letter Agreement are Indonesia, Philippines, Thailand, Malaysia, Pacific Islands including Fiji and Papua New Guinea (as per Annexure-I).</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE may supply MF Heritage Products directly to AGCO&#8217;s distributor in Vietnam subject to terms agreed with AGCO and payment to AGCO of an agreed commission.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AGCO agrees to consider sourcing Centurion Global Series Tractors G1 and G2 (licensed products) from TAFE, India subject to competitive prices.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AGCO agrees to consider sourcing 90 HP to 100 HP tractors developed by TAFE, subject to competitive prices.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE agrees to incorporate in the MF Heritage Products, features, improvements and innovations designed and developed by TAFE that are outside of the MF Heritage Products series, in line with the specifications and market needs that are mutually agreed upon between the parties.                                       &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div><br></div><div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">BRAND</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The MF Heritage Products will be sold by AGCO or any of its subsidiary companies in the Massey Ferguson brand only with such branding and model numbering to be determined by AGCO. Spare parts shall be branded as AGCO. TAFE will not sell MF Heritage Products in TAFE or any other brand in the Territory. TAFE shall comply with all instructions issued by AGCO relating to the form and manner in which AGCO trademarks shall be used and shall discontinue immediately upon notice from AGCO any practice relating to the use of AGCO trade marks in the Territory.</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">NATURE OF ARRANGEMENT</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The arrangement between the parties shall be exclusive for MF Heritage Products. The parties agree that they shall not have any similar arrangements with any other person during the currency of this agreement for sale of MF Heritage tractors within the Territory save that this arrangement shall not cover any tractors built in AGCO proprietary sites or supported by other AGCO brands.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In the event of AGCO deciding to source the MF Heritage Products from its own manufacturing locations, it shall serve upon TAFE 60 days&#8217; notice in writing of its intent to do so. Within 120 days of receipt of such notice, TAFE shall have the option to terminate this Letter Agreement by the issue of three months&#8217; notice in writing.</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">4.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">PROCEDURES AND PRICE</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE will supply and invoice MF Heritage Products to AGCO free on board (Indian port) Shipment of products and spare parts shall be directly to appropriate AGCO centres. Payment shall be made by AGCO within 60 days from the bill of lading in USD.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;text-indent:528px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><br></div><div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">5.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">REVIEW</font><font style="font-family:inherit;font-size:12pt;">: </font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AGCO and TAFE will form an &#8220;Operational Review&#8221; team with two members nominated from each party, which shall, on a monthly basis, review performance, forecasting, orders and fulfilment, etc. A &#8220;Steering Committee&#8221;, with senior level participants of both parties shall review at quarterly basis the progress of business.</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">6.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">OTHER TERMS AND CONDITIONS</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE and AGCO agree that the terms and conditions such as conditions of Sale Standards of Quality, Parts, Warranty and After Sales Responsibilities are mutually agreed in a separate agreement named &#8220;Terms and Conditions agreed between Tractors and Farm Equipment Limited (&#8220;TAFE&#8221;) and AGCO Corporation (&#8220;AGCO&#8221;) for Heritage Tractors dated 29th October 2009&#8221;.</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">7.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">INDIAN LINE OF CREDIT BUSINESS</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE would be solely responsible for India Line of Credit business in these markets. Where direct invoicing is mandatory, the payment of commission and dealer margins to AGCO to be mutually agreed to.</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">8.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">TERM AND TERMINATION</font><font style="font-family:inherit;font-size:12pt;">:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:29px;"><font style="font-family:inherit;font-size:12pt;">a)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Letter Agreement shall be deemed to have come into effect on 1st March 2015 and shall be valid for a period of 5 years (this is upto Feb. 2020) unless terminated by either party giving 2 years (two years) prior written notice of termination to the other party except in circumstances mentioned in Clause 8 (b) below. Thereafter this Letter Agreement may be renewed by mutual consent for a further period of five years.</font></div></td></tr></table><div><br></div><div></div><hr style="page-break-after:always"><div></div><div><br></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:29px;"><font style="font-family:inherit;font-size:12pt;">b)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Agreement may be terminated at TAFE&#8217;s sole discretion by the issue of three months&#8217; notice in writing, in the event of AGCO issuing to TAFE 60 days&#8217; notice also in writing of its intention to source the MF Heritage Products from its own manufacturing locations, as stated in Clause 3 above.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:29px;"><font style="font-family:inherit;font-size:12pt;">c)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In the event of change in beneficial ownership or control of AGCO or TAFE, the respective other party shall have the option to terminate this Letter Agreement by giving six months&#8217; written notice.</font></div></td></tr></table><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">M/s. Tractors and Farm Equipment Limited</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">M/s. AGCO International GmbH</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By:/s/ Mallika Srinivasan</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By: /s/ Fr&#233;d&#233;ric Devienne</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Vice President Finance, EME &amp;APA</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Its Authorised signatory</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Its Authorised signatory</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date: 14th July 2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date: 19th July 2017, Neuhausen</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Chennai</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By:/s/ R.N. Batkin</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Its Authorised signatory</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date: 24th July 2017</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div><br></div><div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:180%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Annexure-I</font></div><div style="line-height:180%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TERRITORY AGREED IN FAR EAST MARKETS AS PER LETTER AGREEMENT.</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.&#160;&#160;&#160;&#160;Indonesia</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.&#160;&#160;&#160;&#160;Philippines</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.&#160;&#160;&#160;&#160;Thailand</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">4.&#160;&#160;&#160;&#160;Malaysia</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">5.&#160;&#160;&#160;&#160;Pacific Islands including Fiji and</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">6.&#160;&#160;&#160;&#160;Papua New Guinea</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">/s/ Mallika Srinivasan</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">/s/ Fr&#233;d&#233;ric Devienne</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Ms/. Tractors and Farm Equipment Limited</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Vice President Finance, EME &amp;APA</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">M/s. AGCO International GmbH</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">/s/ R.N. Batkin</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">24 July 2017</font></div></td></tr></table></div></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><br></div><div></div>	</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex102-agcoxletteragreement.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2017 Workiva -->
		<title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s813554EB31F20473DC42850978337EBC"></a></div><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:180%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.2</font></div><div style="line-height:180%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Letter Agreement for Mexico</font></div><div style="line-height:180%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Between</font></div><div style="line-height:180%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AGCO International GmbH, Neuhausen, Switzerland (&#8220;AGCO&#8221; <br>which expression shall include its successors and assigns)</font></div><div style="line-height:180%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">and</font></div><div style="line-height:180%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Tractors and Farm Equipment Limited (collectively referred to as <br>(&#8220;TAFE&#8221; which expression shall include its successors and assigns)</font></div><div style="line-height:180%;padding-left:0px;text-align:justify;text-indent:0px;"><font style="text-align:justify;font-family:inherit;font-size:12pt;padding-right:28px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">PURCHASE AND SALE</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE agrees to supply MF Heritage (including 2600 series) tractors from 35HP to 80HP range (appropriate for the market in the territory as mutually agreed upon, between the parties) (&#8220;MF Heritage Products&#8221;) together with spare parts exclusively to AGCO (or any of its subsidiary/associate companies) for resale in Mexico market (&#8220;Territory&#8221;) solely through the AGCO distribution network.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AGCO agrees to consider sourcing Centurion Global Series Tractors G1 and G2 (licensed products) from TAFE, India subject to competitive prices.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AGCO agrees to consider sourcing 90 HP to 100 HP tractors developed by TAFE, subject to competitive prices.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE agrees to incorporate in the MF Heritage Products, features, improvements and innovations designed and developed by TAFE that are outside of the MF Heritage Products, in line with the specifications and market needs that are mutually agreed upon between the parties.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;text-indent:528px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div><br></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">BRAND</font><font style="font-family:inherit;font-size:12pt;">: </font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The MF Heritage Products will be sold by AGCO or any of its subsidiary companies in Massey Ferguson brand only with model numbering to be determined by AGCO. Spare parts shall be branded as AGCO. TAFE will not sell MF Heritage Products in TAFE or any other brand in the Territory. TAFE shall comply with all instructions issued by AGCO relating to the form and the manner in which AGCO trademarks shall be used and shall discontinue immediately upon notice from AGCO any practice relating to the use of AGCO trade marks in the Territory. TAFE shall obtain no rights in/ to the Massey Ferguson trade marks in the Territory.</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">NATURE OF ARRANGEMENT</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The arrangement between the parties shall be exclusive for MF Heritage Products. The parties agree that they shall not have any similar arrangements with any other person during the currency of this Letter Agreement for sale of tractors within the Territory save that this arrangement shall not cover any tractors built in AGCO proprietary sites or supported by other AGCO brands.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In the event of AGCO deciding to source the MF Heritage Products from its own manufacturing locations, it shall serve upon TAFE 60 days&#8217; notice in writing of its intent to do so. Within 120 days of receipt of such notice, TAFE shall have the option to terminate this Letter Agreement by the issue of three months&#8217; notice in writing.</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">4.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">PROCEDURES AND PRICE</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE will supply and invoice MF Heritage Products to AGCO free on board (Indian Port). Shipment of products and spare parts shall be directly to appropriate AGCO, Mexico. Payment shall be made by AGCO within 60 days from bill of lading in U S Dollars.</font></div><div><br></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">5.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">REVIEW</font><font style="font-family:inherit;font-size:12pt;">: </font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AGCO and TAFE will form an &#8220;Operational Review&#8221; team with two members nominated from each party, which shall, on a monthly basis, review performance, forecasting, orders and fulfillment, etc. A &#8220;Steering Committee&#8221;, with senior level participants of both parties shall review at quarterly basis the progress of business.</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">6.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">OTHER TERMS AND CONDITIONS</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE and AGCO agree that the terms and conditions such as conditions of Sale Standards of Quality, Parts, Warranty and After Sales Responsibilities are mutually agreed in a separate agreement named &#8220;Terms and Conditions agreed between Tractors and Farm Equipment Limited (&#8220;TAFE&#8221;) and AGCO Corporation (&#8220;AGCO&#8221;) for Heritage Tractors dated 29th October 2009&#8221;.</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">7.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">INDIAN LINE OF CREDIT BUSINESS</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE would be solely responsible for India Line of Credit business in these markets. Where direct invoicing is mandatory, the payment of commission and dealer margins to AGCO to be mutually agreed to.</font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">8.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">TERM AND TERMINATION</font><font style="font-family:inherit;font-size:12pt;">:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:29px;"><font style="font-family:inherit;font-size:12pt;">a)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This agreement shall be deemed to have come into effect on 29th Oct.2014 and shall be valid for a period of 5 years (this is upto Oct. 2019) unless terminated by either party giving 2 years (two years) prior written notice of termination to the other party except in circumstances mentioned in clause 8 (b) below. Thereafter this Letter Agreement may be renewed by mutual consent for a further period of five years.</font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:-19px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">b) This Letter Agreement may be terminated at TAFE&#8217;s sole discretion by the issue of three months&#8217; notice in writing, in the event of AGCO issuing to TAFE 60 days&#8217; notice also in writing of its intention to source the MF Heritage Products from its own manufacturing locations as stated in Clause 3 above.</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:29px;"><font style="font-family:inherit;font-size:12pt;">c)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In the event of change in beneficial ownership or control of AGCO or TAFE, the respective other party shall have the option to terminate this Letter Agreement by giving six months written notice.</font></div></td></tr></table><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">M/s. Tractors and Farm Equipment Limited</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">M/s. AGCO International GmbH</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By:/s/ Mallika Srinivasan</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By: /s/ Fr&#233;d&#233;ric Devienne</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Vice President Finance, EME &amp;APA</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Its Authorised signatory</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Its Authorised signatory</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date: 14th July 2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date:</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Chennai</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By:/s/ R.N. Batkin</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Its Authorised signatory</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date: 24 July 2017</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:left;padding-left:360px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div>	</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex103-agcoxletteragreement.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2017 Workiva -->
		<title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s7590926D1A62FFA649BE8507EF729FDC"></a></div><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:180%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.3</font></div><div style="line-height:180%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Letter Agreement for Australia/New Zealand</font></div><div style="line-height:180%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Between</font></div><div style="line-height:180%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AGCO International GmbH, Neuhausen, Switzerland (&#8220;AGCO&#8221; <br>which expression shall include its successors and assigns)</font></div><div style="line-height:180%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">and</font></div><div style="line-height:180%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Tractors and Farm Equipment Limited (collectively referred to as <br>(&#8220;TAFE&#8221; which expression shall include its successors and assigns)</font></div><div style="line-height:240%;padding-left:0px;text-align:justify;text-indent:0px;"><font style="text-align:justify;font-family:inherit;font-size:12pt;padding-right:28px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">PURCHASE AND SALE</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE agrees to supply MF Heritage (including 2600 series) tractors from 35HP to 80HP range (appropriate for the market in the territory as mutually agreed upon, between the parties) (&#8220;MF Heritage Products&#8221;) together with spare parts exclusively to AGCO (or any of its subsidiary/associate companies) for resale in Australia/New Zealand markets (&#8220;Territory&#8221;) solely through the AGCO distribution network.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AGCO agrees to consider sourcing Centurion Global Series Tractors G1 and G2 (licensed products) from TAFE, India subject to competitive prices.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AGCO agrees to consider sourcing 90 HP to 100 HP tractors developed by TAFE, subject to competitive prices.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE agrees to incorporate in the MF Heritage Products, features, improvements and innovations designed and developed by TAFE that are outside of the MF Heritage Products, in line with the specifications and market needs that are mutually agreed upon between the parties.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;text-indent:528px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div><br></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:240%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">BRAND</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The MF Heritage Products will be sold by AGCO or any of its subsidiary companies in Massey Ferguson brand only with model numbering to be determined by AGCO. Spare parts shall be branded as AGCO. TAFE will not sell MF Heritage Products in TAFE or any other brand in the Territory. TAFE shall comply with all instructions issued by AGCO relating to the form and the manner in which AGCO trademarks shall be used and shall discontinue immediately upon notice from AGCO any practice relating to the use of AGCO trade marks in the Territory. TAFE shall obtain no rights in/to the Massey Ferguson trade marks in the Territory.</font></div><div style="line-height:240%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">NATURE OF ARRANGEMENT</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The arrangement between the parties shall be exclusive for MF Heritage Products. The parties agree that they shall not have any similar arrangements with any other person during the currency of this Letter Agreement for sale of tractors within the Territory save that this arrangement shall not cover any tractors built in AGCO proprietary sites or supported by other AGCO brands.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In the event of AGCO deciding to source the MF Heritage Products from its own manufacturing locations, it shall serve upon TAFE 60 days&#8217; notice in writing of its intent to do so. Within 120 days of receipt of such notice, TAFE shall have the option to terminate this Letter Agreement by the issue of three months&#8217; notice in writing.</font></div><div style="line-height:240%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">4.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">PROCEDURES AND PRICE</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE will supply and invoice MF Heritage Products to AGCO free on board (Indian Port). Shipment of products and spare parts shall be directly to appropriate AGCO Australia /New Zealand centres. Payment shall be made by AGCO within 60 days from bill of lading in U S Dollars.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;text-indent:528px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div><br></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:240%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">5.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">REVIEW</font><font style="font-family:inherit;font-size:12pt;">: </font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AGCO and TAFE will form an &#8220;Operational Review&#8221; team with two members nominated from each party, which shall, on a monthly basis, review performance, forecasting, orders and fulfillment, etc. A &#8220;Steering Committee&#8221;, with senior level participants of both parties shall review at quarterly basis the progress of business.</font></div><div style="line-height:240%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">6.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">OTHER TERMS AND CONDITIONS</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE and AGCO agree that the terms and conditions such as conditions of Sale Standards of Quality, Parts, Warranty and After Sales Responsibilities are mutually agreed in a separate agreement named &#8220;Terms and Conditions agreed between Tractors and Farm Equipment Limited (&#8220;TAFE&#8221;) and AGCO Corporation (&#8220;AGCO&#8221;) for Heritage Tractors dated 29th October 2009&#8221;.</font></div><div style="line-height:240%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">7.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">INDIAN LINE OF CREDIT BUSINESS</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">TAFE would be solely responsible for India Line of Credit business in these markets. Where direct invoicing is mandatory, the payment of commission and dealer margins to AGCO to be mutually agreed to.</font></div><div style="line-height:240%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">8.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">TERM AND TERMINATION</font><font style="font-family:inherit;font-size:12pt;">:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:57px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:28px;"><font style="font-family:inherit;font-size:12pt;">a)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This agreement shall be deemed to have come into effect on 1st March 2015 and shall be valid for a period of 5 years (this is upto Feb.2020) unless terminated by either party giving 2 years (two years) prior written notice of termination to the other party except in circumstances mentioned in clause 8 (b) below. Thereafter this Letter Agreement may be renewed by mutual consent for a further period of five years.</font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:57px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:28px;"><font style="font-family:inherit;font-size:12pt;">b)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Letter Agreement may be terminated at TAFE&#8217;s sole discretion by the issue of three months&#8217; notice in writing, in the event of AGCO issuing to TAFE 60 days&#8217; notice also in writing of its intention to source the MF Heritage Products from its own manufacturing locations as stated in Clause 3 above.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:57px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:28px;"><font style="font-family:inherit;font-size:12pt;">c)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In the event of change in beneficial ownership or control of AGCO or TAFE, the respective other party shall have the option to terminate this Letter Agreement by giving six months written notice.</font></div></td></tr></table><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">M/s. Tractors and Farm Equipment Limited</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">M/s. AGCO International GmbH</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By:/s/ Mallika Srinivasan</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By: /s/ Fr&#233;d&#233;ric Devienne</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Vice President Finance, EME &amp;APA</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Its Authorised signatory</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Its Authorised signatory</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date: 14th July 2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date: 19th July 2017, Neuhausen</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Chennai</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By:/s/ R.N. Batkin</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Its Authorised signatory</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date: 24th July 2017</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:left;padding-left:360px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;padding-left:360px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:180%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div>	</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>ex104-agcoxamendletteragre.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2017 Workiva -->
		<title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s22031507D3C5B5FC92EA85070434B6CD"></a></div><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:180%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.4</font></div><div style="line-height:180%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Amendment to the Letter Agreement for Africa <br>between <br>AGCO International GmbH, Neuhausen, Switzerland <br>(&#8220;AGCO&#8221; which expression shall include its successors and assigns) <br>and <br>Tractors and Farm Equipment Limited <br>(&#8220;TAFE&#8221; which expression shall include its successors and assigns)</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">AGCO and TAFE hereby agree to amend certain provisions of the Letter Agreement for Africa previously signed on 29.10.2009 (&#8220;Letter Agreement for Africa&#8221;) as follows:</font></div><div style="line-height:180%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:0px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:11pt;padding-right:28px;">1.</font><font style="font-family:inherit;font-size:11pt;">In the first line of Para &#8212; 1 under the caption &#8220;PURCHASE AND SALE&#8221; for the existing words &#8220;tractors </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">45HP</font><font style="font-family:inherit;font-size:11pt;">&#32;to </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">105 HP</font><font style="font-family:inherit;font-size:11pt;">&#32;range&#8221;, the same shall be replaced with the words &#8220;tractors </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">45 HP</font><font style="font-family:inherit;font-size:11pt;">&#32;to </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">85 HP</font><font style="font-family:inherit;font-size:11pt;">&#32;range&#8221;.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">In the first paragraph of Clause 1, the word &#8220;Africa&#8221; shall be replaced with &#8220;Angola, Kenya, Malawi, Morocco, Nigeria and South Africa&#8221; such that the term &#8220;Territory&#8221; used in the Letter Agreement for Africa shall mean Angola, Kenya, Malawi, Morocco, Nigeria and South Africa.</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">3.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">All the amendments shall be applicable from the date on which this amended agreement is executed by the parties.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">All references to the term &#8220;Phase 1 Markets&#8221; shall be replaced with the term &#8220;Territory&#8221;.</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:11pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div><br></div><div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">4.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The following paragraphs and clauses shall be deleted:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:11pt;padding-left:72px;"><font style="font-family:inherit;font-size:11pt;">a.</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The second paragraph of Clause 1 commencing &#8220;In the first phase&#8221; to &#8220;upon signing this agreement&#8221;,</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:11pt;padding-left:72px;"><font style="font-family:inherit;font-size:11pt;">b.</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">in the third paragraph of Clause 1, all words other than &#8220;TAFE will continue its existing operations in other territories of Africa&#8221;;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:11pt;padding-left:72px;"><font style="font-family:inherit;font-size:11pt;">c.</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Clauses 6.b and 6.c;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:11pt;padding-left:72px;"><font style="font-family:inherit;font-size:11pt;">d.</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Clause 7.c;</font></div></td></tr></table><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">5.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The following paragraph shall be added at the end of Clause 4:</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;AGCO agrees not to purchase MF Heritage tractors from Millat Tractors Limited for sale into the Territory which are proven to contain, and which AGCO is made aware contain, patents or designs solely developed as well as commercially implemented by TAFE into MF Heritage tractors (including MF2600 series) in the range of 35 to 85 HP and which patents or designs have not been licensed, directly or indirectly, to Millat Tractors Limited.&#8221;</font></div><div style="line-height:180%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">6.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Apart from the amendments to the Letter Agreement for Africa stated herein, all other provisions of the Letter Agreement for Africa shall be valid and binding on AGCO and TAFE.</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">M/s. Tractors and Farm Equipment Limited</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">M/s. AGCO International GmbH</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By:/s/ Mallika Srinivasan</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By: /s/ Fr&#233;d&#233;ric Devienne</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Vice President Finance, EME &amp;APA</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Its Authorised signatory</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Its Authorised signatory</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Place: Chennai</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Place: Neuhausen</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date: 14th July 2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date: 19th July 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">/s/ R.N. Batkin</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">24th July 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:180%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div>	</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
