PARTNERSHIP DEED

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THIS DEED OF PARTNERSHIP is made at (Karachi) this 24th May of Saturday, 2009,
BETWEEN :

1) Mr. Ali an Muslim Inhabitant, hereinafter referred to as the Party of the FIRST PART,

2) Mr. Zohaib also an Muslim Inhabitant hereinafter referred to as the Party of the SECOND
PART,

3) Mr. Waqas, also an Muslim Inhabitant, hereinafter referred to as the Party of the THIRD
PART,

4) Mr. Ahmad, also an Muslim Inhabitant, hereinafter referred to as the Party of the FOURTH
PART

WHEREAS the parties hereto of the First, and Second Parts were carrying on business in
partnership under the name and style of "M/s Terrific as per Deed of Partnership dated Same
date and Addendum thereto dated 24th May.

AND WHEREAS the parties hereto of the Third and Fourth part have expressed their desire
to join as partners with effect from Saturday of May 24th., 2009

AND WHEREAS the parties hereto of the 1st part and 2nd. Parts have agreed to admit the
parties hereto of the 1st part, and 2nd. Part as partner’s w.e.f. 24th day and have decided to
carry on business in partnership on certain terms and conditions as stated herein under.

NOW IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS UNDER :

That the partnership hereby re-constituted has commenced its business from Saturday day of
May, 1990.

The duration of the partnership shall be "AT WILL".

That the re-constituted partnership business shall continue to be carried on under the name
and style of "M/S.Terrific- and/or such other name or names as the partners may agree upon
from time to time.

That the re-constituted partnership business shall continue to be carried on at Rawalpindi or

at such other place or places as may be decided by the partners from time to time.

(a) That the party hereto of the First Part is a working partner and is actively engaged in
conducting the affairs of the business of the firm. The party of the 1st Part shall be entitled to a
yearly remuneration to the extent of Rs1,00,000/- (Rupees One lacs Only) per annum.

(b) The yearly remuneration payable to the party hereto of the 1st Part shall be credited to his
account at the close of accounting year when the final accounts of the partnership are made
up.

(c) The above partner shall be entitled to draw the above yearly remuneration only after the
end of the relevant accounting year. However, nothing herein contained shall preclude any of
the partners from withdrawing any amount from the partnership firm against the amount
standing to his capital and/or current or loan account or his share of profit for the relevant
accounting period in such manner as may be decided by the partners by mutual consent.

The credit balance in the capital accounts of all the partners as on Their share 2ppp shall be
treated as their capital and the additional funds required for the purpose of the partnership
business shall be introduced or contributed by the partners in such manner as may be
mutually agreed upon. The simple interest at the rate of 16% per annum shall be payable by
the partnership firm on the amount standing to the credit of the capital and/or current or loan
accounts of the partners. If there is any debit balance in the account of any partner, interest at
the above rate shall be payable by him to the partnership firm.

The net profit of the partnership business as per the accounts maintained by the partners
after deducting all expenses relating to business activities of the partnership including rent
salaries and other establishment expenses shall be divided and/or distributed amongst the
partners in the following proportion.

Name of the Partners

Share of Profit

1 Mr. Ali 40%

2 Mr. Zohaib 35%

3 Mr. Waqas 20%

4 Mr. Ahmad 5%

Total

100%

The loss if any including the loss of capital suffered in any year shall also be apportioned in
the above stated proportions.

That the existing bank account/s of the firm shall be continued to be maintained and operated
in the manner prevailing on the date of this indenture and/or new account or accounts of the
partnership business shall be opened with any bank or banks as may be mutually agreed
upon. Such account or accounts shall be operated by any of partners or as may be decided
by them as per mutual consent.

That all the necessary and proper books of accounts together with all letters, papers or writing
concerning or belonging to the partnership shall be regularly maintained and any of the
partner or his/her authorized agent shall at all times have free access to and the right to
inspect and copy the same.

That each partner shall :

a) forthwith pay all his/her separate debts and indemnify and keep indemnified the other
partners and assets of the firm against the same and all expenses thereof ;

b) forthwith pay in and deposit with the firm all moneys, cheques and negotiable instruments
received by him on account of the firm;

c) afford every assistance and co-operation in his/her power and use his/her skill and
endeavor in the conduct and promotion of the business of the firm for their mutual mutual
advantage and benefit.

That no partner shall without the consent in writing of all the other partners assign or
mortgage his/her share or interest in the partnership firm.

That the parties hereto shall be entitled to carry on any business of any nature either
individually or in partnership with others, either in their own names or in the name of any other
concern or firms and each such business carried on in any such name or names shall be
distinctly separate and independent business.

That the parties hereto agree that the death, retirement or insolvency of any of the partners
shall not dissolve the partnership firm as to the surviving or continuing partners.

That no good will shall be payable on the death or retirement of any of the partner/s.

In the event of any disputes or differences arising between the partners with regard to the
interpretation of the terms hereof or with regard to the duties of the partners or with regard to
the conduct of the business or otherwise howsoever, whether during or after the partnership
the same will be referred to Arbitration under the provisions of the Indian Arbitration Act, and
the decision of such Arbitrator or Arbitrators as the case may be will be final and binding upon
the partners.

Notwithstanding anything stated here or provided herein the partners shall have full powers
and discretion to modify, alter or vary the terms and conditions of this partnership deed, in any
manner whatsoever they think fit by mutual agreement which shall be reduced into writing and
signed by all the partners, thereupon such writing shall become appendage and part of this
Deed.

ANYTHING NOT STIPULATED HERE shall be decided by mutual consent of the partners.

IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their
respective hands on the day and the year first hereinabove written.

SIGNED, SEALED AND DELIVERED by the )

within named Mr. Ali )

in the presence of ............................ )

SIGNED, SEALED AND DELIVERED by the )

within named Mr Zohaib )

in the presence of ............................ )

SIGNED, SEALED AND DELIVERED by the )

within named Mr. Waqas) _________________

in the presence of ............................ )

SIGNED, SEALED AND DELIVERED by the )

within named Mr. Ahmad) _________________

in the presence of ............................ )

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