Date: 27-Jun-2020

APPOINTMENT LETTER

Date of Joining – 26-Jun-2020

Mr.Dinesh Kannan Kumar

Dear Dinesh,

Welcome aboard!

With reference to our Interview and discussions, we are pleased to appoint you as FL IV in MFI OFFICER in
our MICRO LOANS division of the Company. Your date of joining is 26-Jun-2020. The following terms and
conditions will be applicable to you:

1. PLACE OF POSTING:

Your posting will be presently at ARANTHANGI. However, during employment of the Company, you may be
posted / transferred to any of the offices / projects / divisions / departments / units / subsidiaries / sister
concerns of the Company, existing or to be set up at any other location in India or abroad, without any
additional remuneration, in the interest of the Company without assigning any reasons.

2. COMPENSATION & BENEFITS:

Your Cost to Company [CTC] per Rs. 172,650/- (Rupees One Lac Seventy Two Thousand Six Hundred
and Fiftyonly), which will be inclusive of Basic Salary, Allowances and such other elements as may be
applicable from time to time. Compensation and career progression shall be dependent on performance /
conduct and in no case shall be construed to be a matter of right.

You will be governed at all times by the policies, procedures and rules of the Company related to the salary,
allowances, benefits and perquisites which are applicable to you. Further, the Company, at its sole discretion,
may modify or change such allowances, benefits and perquisites from time to time in accordance with its
policies.

Your compensation review / increments and future prospects in the Company shall entirely depend on your
performance and other relevant factors as Company may deem fit and in no case, they shall be automatic
and / or a matter of right.

It is agreed between the Company and you that the incentive, payable if any, based on your performance
and/or productivity is in lieu of any other bonus payable, including the bonus based on profits payable under
any law. It is also expressly/ mutually agreed between the Company and you that the incentive payable if
any, based on your performance and/or productivity shall be set off against the bonus payable based on
profits under any law to the extent permissible under any law.

3. PROVIDENT FUND SCHEME :

You shall become a member of the Provident Fund immediately on joining and as per the rules in force from
time to time. The Company contribution under this scheme is fixed at 12% of your basic with a matching
compulsory contribution from you. You will be required to submit necessary forms to the Human Resources
Department upon your joining.
4. LEAVE :

The Privilege Leave entitlement for the 1st year of service would be 20 days. Thereafter it would be as per
the prevailing Company's leave policy.

5. MEDICAL FITNESS :

You will be required to undergo the periodical medical checkup/ examination by a doctor appointed by the
Company. This appointment letter is valid subject to you being physically fit. Your appointment, continuation
and permanency in the employment are also subject to you remaining physically fit.

Your appointment is subject to your declaration of medical fitness to perform the job assigned to you by the
Company. The Company, as and when necessary, may require you to be medically examined by Company
appointed medical practitioner at any time, during the period of your service. The Company reserves the right
to initiate necessary actions, including termination of employment, in any of the following situations :

1. A false declaration of medical fitness by you.

2. Being found medically unfit to continue with the job, by the Company appointed medical
practitioner. In such an event, you will be given 30 days time to regain your fitness.

3. Infectious diseases – in case you acquire any infectious diseases which are likely to be a
risk to other employees.

6. DUTIES AND RESPONSIBILITIES :

i) Your duties are entirely managerial in nature and the Company will expect you to work
with a high standard of initiative, efficiency and economy and encourage and motivate
people under you to achieve optimum output. You will perform, observe and confirm to
such duties, directions and instructions assigned or communicated to you by the
Company and those in authority over you.

ii) You will devote your entire time to the work of the Company and will not undertake any
direct / indirect business or work, honorary or remuneratory except with the written
permission of the Company in each case. Contravention of this will lead to the
termination of your service without any notice or any compensation in lieu of such notice.

iii) You shall not seek membership of any local or public bodies without first obtaining
written permission from the Company.

iv) You shall neither divulge nor give out information to any unauthorized person (including
media) during the period of your service or even afterwards by word of mouth or
otherwise, particulars or details of our processes, know-how, security arrangements,
administrative and / or organizational matters of a confidential / secret nature, which may
be your privilege to know by virtue of your being our employee and which shall bring
disrepute to the Company or its group companies.

v) You shall keep confidential all the information and material provided to you by the
Company or by its clients concerning their affairs, in order to enable the Company to
perform the service. This also includes such information as is already known to the
public which also you will not release, use or disclose except with the prior written
permission of the Company. Your obligation to keep such information confidential shall
remain even on termination or cancellation of this employment.
 vi) You will not enter into any commitments or dealings on behalf of the Company for which
you have no clear authority nor alter or be a party to any alteration of any principle or
policy of the Company or exceed the authority or discretion vested in you without the
previous sanction of the Company or those in authority over you.

vii) You will be responsible for the safe keeping and return in good condition and order of all
the properties of the Company, which may be in your use, custody, care or charge. For
the loss of any property of the Company in your possession, the Company will have a
right to assess on its own basis and recover the damages of all such materials from you
and to take such other action as it deems proper in the event of your failure to account
for such material or property to its satisfaction.

7. TERMINATION OF PERMANENT SERVICE :

i) You will automatically retire from the service of the Company on attaining the
superannuation age of 58 years.

ii) If you absent yourself without intimation / sanctioned leave or remain absent beyond the
period originally granted or subsequently extended, you shall be considered as having
voluntarily abandoned your employment without giving any notice unless you resume your
duties within 8 days from the commencement of such absence and provide explanation to
the satisfaction of the Company for such absence.

iii) Your services are liable to be terminated without any notice or salary in lieu thereof in case
of misconduct, including loss of confidence, arising out of misconduct, disloyalty, commission
of an act involving moral turpitude and act of indiscipline or inefficiency.

iv) During the service, either party to this contract shall be at liberty to terminate the same by
giving to the other 30 days notice in writing or compensation (on Basic Salary basis) in lieu
thereof. It shall not be necessary for either party to assign any reason for termination of the
contract. Provided that, such notice or compensation in lieu of shall not be payable by the
Company to you in the event of any contravention or violation by you, of any of the
provisions set forth in this appointment letter. Final decision on relieving an employee
and determining the notice period or compensation in lieu or in relation thereof, or the
decision to waive the notice period vests with the Company. Company reserves the right to
relieve the employee with immediate effect and without any kind of compensation
whatsoever, if it deems fit in the interests of the Company, or if the Company, in its sole
discretion, determines that the employee may pose a threat, immediate or foreseeable, for
breach of the conditions of the appointment letter, and in  particular the conditions relating to
the Company’s know-how, security arrangements, administrative and/or organizational
matters, or it is deemed that continuation in notice period may possibly be disruptive to the
operations of the company. Upon dismissal, the employee shall receive payment only till
their last date of service, no compensation or remuneration beyond the date of dismissal
shall be due from the Company.. Any unutilized leave, as per the Company’s leave policy,
may be set-off against the notice period of 30 days, at the discretion of the Company.

8. GENERAL CONDITIONS :

i) You may be selected and sponsored by the Company for familiarization / training
assignments or any other institutions / organizations in India and / or abroad. You will
diligently and beneficially take part in the training and such assignments. The cost of such
training including the travel fare and related expenses will be borne by the Company subject
to agreements to be drawn up and signed by the Company and you specifying minimum
 number of years you will serve the Company after such training and providing for payment of
liquidated damages by you to the Company proportionate to the years of service remaining
to be rendered, in the event you voluntarily terminate the contract of service or this
appointment, as the case may be, prior to the expiry of the agreed period of service referred
to herein above.

ii) You will be required to comply with BYOD Policy (Bring Your Own Device Policy) of the
Company and consequently, you will be allowed to bring personally owned devices
(adhering to the Company’s acceptable use policy) to the workplace and use the said
devices to gain access to the application, network & IT resources of the Company. A
onetime only advance shall be extended by the Company to you pursuant to the said policy,
the amount of which shall be recovered from you prorated basis if your employment is
terminated for any reason whatsoever within 364 days of your date of joining.

iii) You will be covered by the service rules and regulations including conduct, discipline and
administrative orders and any such other rules or orders of the Company that may come in
force from time to time.

iv) Your age mentioned in the Matriculation / Higher Secondary Certificate will be deemed to be
the conclusive proof of your date of birth.

v) You will intimate in writing to the Company any change of address within a week from
change of the same, failing which, any communication sent on your last recorded address
shall be deemed to have been served on you.

vi) You will hand over the charge of Letter of Authority or Power of Attorney issued to you or any
property / material of the Company in your possession at the time of cessation of your
employment with the Company.

vii) The present designation is subject to change depending upon work assignment from time to
time.

viii) You shall abide by the rules and regulations which the Company has at this level and shall
undertake to sign such declarations that the Policy may demand from time to time.

ix) Unless otherwise specified, any reimbursements, in the form of relocation expenses, will be
fully recovered if your employment with the Company ceases within two years of joining. Any
payment made, in the form of relocation expenses / notice pay or payment of sign-on bonus
will be taxed as per income tax rules.

x) The information and documents provided by you are subject to verification, and upon your
acceptance of this appointment grant the Company the right to conduct such verification,
including through external agencies. This would include but not be limited to, your
employment history, educational / professional credentials, CIBIL & other background
checks. You hereby agree, consent and authorize the Company to access, use and share
such information provided by you, with internal and external agencies, for the purpose of
carrying out verification at any and all points of time, whether during or after your
employment with the Company. The Company has the policy of sharing all relevant
employee employment information with applicable external agencies

xi) Your appointment is also liable to termination in the event of the verification of your
character, antecedents and testimonials are not found satisfactory. In case particulars
 mentioned in your application are found false or unsatisfactory, your services would be liable
for termination at any time without any notice or any compensation in lieu thereof.

xii) In case you join the Company in the absence of the relieving order from your previous
employer, you shall do so at your own risk and undertake to keep the Company indemnified
for all loss / damage by your such act.

xiii) Any dispute or difference or claims arising out of or in connection with this contract shall be
resolved by reference to arbitration by a sole arbitrator appointed by L&T Finance Limited, at
its sole discretion. The arbitration proceedings shall be governed by the provisions of the
Arbitration & Conciliation Act, 1996 and the Rules framed there under and any amendments
thereto. The language of arbitration shall be English. The venue of arbitration shall be at
Mumbai and courts at Mumbai shall have exclusive jurisdiction. The award of the arbitrator
shall be final and binding on the parties. The governing law shall be the laws of India

xiv) Any Dispute between yourself and the Company concerning with or relating to or arising out
of this employment shall be subject to the jurisdiction in Greater Mumbai only.

xv) Please note that you are required to keep the salary & other perquisites / benefits offered to
you strictly confidential and not to share information regarding the same with any one.

xvi) You shall not be entitled to any salary in the event you leave the Company within 20 working
days of your joining.

xvii) This appointment is subject to the rules, regulations and policies made by the Company and
detailed in the HR manual or any other circular/intimation issued by the HR team as in force
at present or as may be amended, altered, modified or extended from time to time and shall
be binding upon you whether or not you have signed off on such amendment or modification
.If acceptable to you, please carry a duplicate copy of this letter duly signed by you in token
of your acceptance of offer on your date of joining.

xviii)The risk management practices and/or policies applicable upon the Company could require
the disclosure of information regarding bank account of employees working at employee
grades FL I to FL IV in the Micro Loans business of the Company, and consequently you
may be required to provide such information and/or declarations regarding the same. Failure
or inability to disclose the above information and/or furnishing any incorrect or incomplete
declaration shall be a violation of the Company's Code of Conduct. Such information may
include information regarding financial transactions, if sought.

You are requested to initial (on all pages) and sign (in the space herein below) and return the
enclosed copy in acceptance of the terms and conditions incorporated herein above

With best wishes for your assignment,

Yours sincerely,

For L&T FINANCE LIMITED.

SUDEEP BANERJEE
CHIEF HUMAN RESOURCES OFFICER

ACKNOWLEDGEMENT & ACCEPTANCE

I have read and understood the above terms and conditions and hereby sign in acceptance of the same.

NAME: __________________________

SIGNATURE: ____________________ DATE: ______________

 Annexure I
Name Mr.Dinesh Kannan Kumar
Grade FL IV Designation MFI OFFICER

Sr. No. Heads Per Month (Rs.) Per Annum (Rs.)

Monthly Components
Basic 5,755 69,060
House Rent Allowance 3,453 41,436
A.
Leave Travel Allowance 3,790 45,476
Sub-Total (A) 12,998 155,972
Statutory Benefits & Retirals
Provident Fund (Employer Contribution 12% of Basic) 691 8,287
ESI (Employer Contribution of 3.25% of monthly gross) 422 5,069
B.
Gratuity (4.81% of Basic) 277 3,322
Sub Total (B) 1,390 16,678
Total Fixed Pay (A + B) 14,388 172,650
Rs. One Lac Seventy Two Thousand Six Hundred and Fifty Only
# You are also eligible to participate in the company’s incentive schemes, through which you may earn
incentive based on your performance. Please note the incentive payable in any accounting year under the
scheme, will be inclusive of amount to be paid in lieu of any other bonus payable, including the bonus based
on profits payable under any statutory law. Thus, you will be eligible for a minimum amount of 0per month
and your maximum potential to earn incentive would be 5,270 per month. The Company reserves its rights to
amend the incentive schemes from time to time.

In addition to the above, you will be covered under the following Group benefits:
1. Group Life Insurance Cover
2. Family Mediclaim Cover
3. Group Personal Accident Cover

For L&T FINANCE LIMITED.

SUDEEP BANERJEE
CHIEF HUMAN RESOURCES OFFICER