0001185185-08-000006 Sample Contracts

WARRANT CLARIFICATION AGREEMENT

Warrant Clarification Agreement • January 7th, 2008 • India Globalization Capital, Inc. • Heavy construction other than bldg const - contractors • Maryland

• Contract Type
  Warrant Clarification Agreement
• Filed
  January 7th, 2008
• Company
  India Globalization Capital, Inc.
• Industry
  Heavy construction other than bldg const - contractors
• Jurisdiction
  Maryland

This Warrant Clarification Agreement (this ‘‘Agreement’’), dated January 4, 2008, is to the Warrant Agreement, dated as of March 3, 2006 (the ‘‘Warrant Agreement’’), by and between India Globalization Capital, Inc., a Delawarecorporation (‘‘Company’’), and Continental Stock Transfer & Trust Company, a New Yorkcorporation (‘‘Warrant Agent’’).

AMENDMENT TO UNIT PURCHASE OPTIONS

Unit Purchase Options • January 7th, 2008 • India Globalization Capital, Inc. • Heavy construction other than bldg const - contractors

• Contract Type
  Unit Purchase Options
• Filed
  January 7th, 2008
• Company
  India Globalization Capital, Inc.
• Industry
  Heavy construction other than bldg const - contractors

This AMENDMENT TO UNIT PURCHASE OPTIONS (this ‘‘Amendment’’), dated January 4, 2008, is made by and between India Globalization Capital, Inc. (the ‘‘Company’’) and Ferris, Baker Watts, Incorporated (‘‘FBW’’).