Date: 24-FEB-2024

Ref No: 183579

Anshul Singh
HOUSE NUMBER D-473 D SECTOR COLONY NEHRU NAGAR BHOPAL MADHYA PRADESH

OFFER LETTER & APPOINTMENT LETTER

Dear Anshul,

We take great pleasure in extending an offer to you to be a part of Kotak Mahindra Bank. We welcome you to the bank, which values and embraces
qualities based on simplicity, prudence, humility and integrity.

When you sign this letter, you would have agreed to be a part of the Kotak family and uphold the 'Kotak DNA'. Kotak DNA includes our values, norms, ideology,
beliefs, character, personality, and culture originated by our founding team at Kotak and has evolved over the years with new members joining. Our DNA is
what defines the firm, and is the most powerful driver of our performance, which differentiates us from others in the industry.

Please find enclosed the Appointment letter.

We wish you a long and enriching career with Kotak!

In case of any queries please feel free to write to us on [email protected]

Manoj Phadnis Anshul Singh

Executive Vice President – Human Resources
Date: 24-FEB-2024
Ref No: 183579

Anshul Singh
HOUSE NUMBER D-473 D SECTOR COLONY NEHRU NAGAR BHOPAL MADHYA PRADESH

Dear Anshul,

We are delighted to appoint you as Associate, M1 with effect from 28-FEB-2024, or from your date of reporting to work whichever is earlier. This letter
ofappointment will cease to have effect if you do not join by 28-FEB-2024.

1. Remuneration - The details of your remuneration are enumerated in Annexure A. Your remuneration will be paid at such time and in such manner
as set forth in the policies, rules and regulations of Kotak Mahindra Bank Limited (herein referred to as the Bank).

2. Location - You will initially be posted at your work at Kotak Mahindra Bank Ltd ,1359-Work-From-Home (WFH), but you may be deputed at any
other office / branch of the Bank or any of its associate companies or any other location and your services are liable to be transferred to any subsidiary
or associate or affiliate company. As a Kotak Lite, you will perform such duties as are assigned to you by the Bank from time to time relating to the position
to which you are now appointed and to which you may be transferred/ promoted in future.

3. Conditions of appointment:
3.1 Your appointment is subject to your providing, inter alia:
a. A relieving letter from your previous employer relieving you from your duties.
b. A copy of the last pay slip from the previous employer.
c. Proof of date of birth.
d. Photocopies of Qualification documents
e. The Bank's application form completes with photograph.
f. Proof of identity (either Adhaar card, passport or voter's id)
g. Satisfactory Background Verification report conducted by the Bank upon your joining.
h. Copy of AMFI/NISM certification (if applicable)
i. Copy of IRDA certification (if applicable)
3.2 Your appointment is also subject to your submitting a 'self- certified medical fitness declaration', format of which will be issued by the Bank.

4. Probation - Your appointment is subject to a probation period of 12 Months. Permanent placement with us is contingent upon your successful
completion of the probation. During this period, your employment may be terminated by the Bank or by yourself by giving 1 months' notice to the other.

5. Working hours, Leave and Holidays:

5.1 You may be required to work on staggered timings / shifts, the timings for which may be altered from time to time or in case your role determines,
you may be required to work remotely either fully or partially, or full time from office or field working, as per the Bank's 'Remote Working' policy
and 'Shift Allowance' policy.
5.2 As a Kotak Lite and in view of your position and role, you must effectively, diligently and to the best of your ability perform all responsibilities
and ensure results. There may be times when you will be expected to work extra hours when the job so requires.
5.3 The hours of work, holidays and paid leave will be in accordance with the Bank's rules and policies. Please note, that if your absent yourselffrom
the services of the Bank without prior written permission of the appropriate authority or overstay sanctioned leave, for the number of days
defined in the absconding clause of the Bank's 'Exit Policy', you will be deemed to have abandoned the services of the Bank and your services
shall be liable to be terminated by the Bank forthwith.
5.4 Absence from work or disability in performing your duties beyond the period of leave to which you are entitled to under the r ules, shall be at
the discretion of the management, and the same will be without any remuneration. You shall faithfully observe all the rules and regulations of
the Bank and comply with all reasonable orders of your managers and attend to your duties punctually at such place or places, as you may be
required.

6. Governance and Code of Conduct:

6.1 As a Kotak Lite, you shall abide by the Kotak "Code of Conduct" which is built over 4 Pillars of Care, upholding the foundation of Trust. The 4
Pillars are:
a. Care for my Colleagues – You shall ensure that you foster equal opportunity, observe diversity and inclusion, create a harassment free
and productive workplace. You shall refrain from financial dealings between colleagues, relatives and others and ensure disclosure of
personal relationships and relatives from time to time as mandated under the policy.
 b. Care for my Customers, Partners, investors and Public – According to this pillar you are expected to be sensitive and always act in the
interest of Kotak and ensure that any business or personal association including close personal relationships which you may h ave, do
not create a conflict of interest with your role and duties in Kotak or its operations. You owe a sense of loyalty to Kotak by the fact that
you have voluntarily accepted employment with Kotak. This duty carries obligation that refrains you from placing yourself in a position
that could produce a conflict between your self-interest and interest of Kotak. This includes dealing with gifts and favours, encouraging
anti-bribery and corruption free business, anti-money laundering, prohibiting financial interests and declaring the same, disclosing
personal investments and avoiding insider trading, personal lending and control on borrowing.
c. Care for my Company Assets – You shall protect Personal, Confidential and Proprietary Information of Kotak and its employees,
customers, partners, etc., safeguard Material Information and Non-Public data and Information. You shall maintain confidentiality in
office areas and when you are working remotely. You shall practice accurate record keeping and operate within the delegation of
authority.
d. Care for my Company Reputation and Community – You shall follow defined protocols on engaging with Press, Digital, social media
Relations and other engagements including Government and Political Involvement or lobbying. You shall procure valid licenses and
copyrights. You shall exhibit responsibility towards community and environment and ensure you follow protocols on respecting human
rights.
6.2 Besides, you must also abide by all other internal policies, rules and procedures, as implemented from time- t o - t i m e throughout t the term
of your employment. Consequently, you are required to understand the scope and intent behind these policies and to comply with the same.
These policies are updated / modified on a periodic basis and new policies may be introduced and notified to employees through various
communication channels. You will be governed by the same from time to time as and when the said changes are made. It is your responsibility
to keep yourself updated with the changes, read and comply with the same.
6.3 Since the nature of your work requires you to handle confidential information, you shall not, at any time during your employm ent or after your
separation from the Bank, without the prior consent of the Bank in writing, divulge, directly or indirectly, any confidential, proprietary, material
and non-public information related to the Bank for any purpose whatsoever.
6.4 You shall not without prior consent of the Bank in writing, which will not be unreasonably withheld, publish any book or broc hure or article or
blog/vlog or use social media, concerning any matter, which relates to any activity of the Bank.
6.5 In case of violation of the Code of Conduct and/or any other Bank's policies, rules and regulations, the Bank reserves the ri ght to take appropriate
action. Apart from this, if any financial loss is caused to the Bank due to proven acts of misconduct committed by you, such financial loss
caused to the Bank, can also be recovered from your terminal benefits and/or from any other relationship maintained by you with the Bank.

7. Declarations and mandatory certifications - On joining, and thereafter every year and whenever required by the Bank, you must fill and sign
declaration modules applicable to you from time to time. You must also comply with all mandatory training modules and get certified from time to time.
Likewise, you must update disclosures proactively every time there is a change during your employment with the Bank.

8. Separation:
8.1 Superannuation - The age of superannuation i.e. the age of retirement will be as per the Bank's 'Exit policy'. Your date of birth has been
recorded as 05/09/1998 in the records of the Bank.
8.2 Notice Period - Subject to the right of the Bank to terminate your services in accordance with clause 8.3, it may be terminated either by the
Bank or yourself by giving 3 Month(s) notice to the other. The Bank alone, at its discretion, may opt to make / accept payment in lieu of notice
period, which will be calculated as per Bank's 'Exit policy'.
8.3 Your employment can be terminated by the Bank, without any notice or payment of any kind in lieu of notice, in the following cases:
a. Any incorrect information furnished by you or on suppression of any material information and/or;
b. Any act, which in the opinion of the management is an act of dishonesty, disobedience, insubordination, incivility, intemperance, irregularity
in attendance or other misconduct or neglect of duty or incompetence in the discharge of duty on your part or the breachon your part
of any of the terms, conditions or stipulations contained in this letter of appointment or a violation on your part of any of the Bank's rules
and policies and/or;
c. You being adjudged an insolvent or applying to be adjudged an insolvent or making a composition or arrangement with your creditors
or being held guilty by a competent court of any offence involving moral turpitude and/or;
d. You being convicted of a serious criminal offence or a criminal offence which, in the Bank's opinion compromises your ability to
perform your duties; and/or;
e. The results of any background/reference checks or searches conducted by the Bank are found to be unsatisfactory in the opinion of
the Bank in its absolute discretion and/or;
f. Any misconduct pertaining to moral turpitude, riotous/disorderly behavior, theft, misappropriation, conviction by any court of law
and/or;
g. Any act or omission, which could be construed as loss of confidence in you by the Management and/or;
h. Any act subversive of discipline or any conduct prejudicial to the interest and reputation of the Bank.
8.4 Garden Leave – While serving notice, the Bank may require you to take Garden Leave, at the sole discretion of the Management, for all or
part of the remaining period of employment. Garden leave may be applicable if you are in grade M5 and above, under certain circumstances
or if you are working in sensitive roles, as defined in the Bank's 'Garden Leave Policy'.
8.5 Inducing/influencing an employee to leave – Whilst you are in service of the Bank or upon your separation, you will, not directly or
 indirectly, either on your own account or on behalf of or in conjunction with any other person, firm or company induce/influence or attempt
to induce/influence any employee of the Bank, to leave the employment of the Bank. Failure to observe this would be considered as a breach
of contract on your part.
8.6 Joining Competitor – As per the 'Exit policy', on your separation from the Bank you will declare if you are joining any Banking or Financial
Services Company.

9. Jurisdiction - If any term or provision of this appointment letter or any application thereof shall be declared or held invalid, illegal or unenforceable, in
whole or in part, whether generally or in any particular jurisdiction, such provision shall be deemed excluded to that extent , and the validity, legality or
enforceability, of the remaining provisions, both generally and in every other jurisdiction, shall not in any way be affected or impaired thereby.

10. This appointment letter shall be governed by, and construed in accordance with, the laws of the Republic of India. Courts of Mumbai shall have exclusive
jurisdiction in respect of any disputes arising at out of or in connection with this contract.

11. This letter constitutes the entire understanding between you and the Bank relating to your employment by the Bank and supersedes and cancels all prior
written and oral agreements and understandings with respect to the subject matter of this appointment. This appointment letter may be amended by a
subsequent written agreement between you and the Bank.

You are requested to send us a copy of this letter signed and dated by way of acceptance of the terms and conditions contained therein.

We look forward to your having a long and happy career with us.

Yours faithfully,

For Kotak Mahindra Bank Ltd.,

Manoj Phadnis
Executive Vice President – Human Resources

I have read all the terms and conditions of the offer and would like to confirm my acceptance.

Anshul Singh
 Annexure – A

Compensation Structure
Components P.M. P.A. Frequency Remarks
a. Basic Basic Salary 15,000 1,80,000 Monthly Minimum 40% of Fixed Pay excluding Section d
(Insurances Premiums) & Additional HRA (If any)
b. Housing House Rent 7,500 90,000 Monthly Up to 50% of Basic Salary
Allowance
c. Allowances Fitness Allowance 1,000 12,000 Monthly Amount paid per month under Health and Fitness related
and Benefits Benefit. You can enter your fitness goals by visiting on
Kotak's site: Health to the power infinity
Statutory Bonus 1,000 12,000 Monthly Payable as per Payment of Bonus Act

Professional 3,000 36,000 Monthly Paid out as a supplementary allowance

Allowance
d. Insurances Mediclaim 7,750 Annual This denotes average Premium for covering you and
Premiums dependents (partner and 2 children) for 4 Lakhs family
floater. Additional cover of 2Lakhs for employees post
completion of 5 years.
You will be covered by default, coverage of the
dependents as per your declaration. More details in
Kotak Mediclaim Policy.
Policy is renewed in April every year. Voluntary top-up
and parents’ policies cover premium is paid by you.

Kotak Term Life + 2,200 Annual This denotes average premium for the grade calculated
GPA as per Term Life cover for the grade. Life Insurance
Policy: 1.5 times of CTC or grade-wise limit whichever is
higher.
Group Personal Accident Policy (GPA): 3L or 1 time
CTC, whichever is higher
Refer Term Life Insurance Policy & Group Personal
Accident Policy.
e. Retirals Contribution to 8,658 Annual This amount is 4.81% of Basic Salary. However, gratuity
Gratuity Fund is payable after 5 years of continuous service as per The
Payment for Gratuity Act.
As per current gratuity policy of the company, extrait is
paid on pro-rata basis at the time of separation even if
length of service is less than 5 years.

Contribution to 10,800 Annual Company's contribution towards PF @ 12% of Basic

Provident Fund
f. Total Fixed 27,500 3,59,408
Pay
(a+b+c+d+e)
Other Benefits
Role Based - Shift Allowance - for employees working in shift as per Shift Working policy
Allowances/ - Reimbursement towards Remote Working expenses - for the roles as per Remote working Policy.
Benefits - Corporate Mobile SIM - for the roles as per Mobile Policy
- Corporate Credit Card - In case your role and grades defined as per Corporate Credit Card policy
- Laptop/ Desktop - as per the role eligibility and company policy.
Other Benefits - Emergency Loan - Refer to Emergency loan policy for eligibility amount and other details.

Joining Bonus In addition, we hereby offer you a Confirmation Bonus of amount INR. 50000/- (Rupees Fifty Thousand Only) to be paid to you
on Confirmation upon successful confirmation of your services with us, on following terms and conditions:
• Having no disciplinary issues as per the terms & conditions of service
• Continuing to be in the employment of Kotak Mahindra Bank Ltd.
 Not having tendered resignation or you serving notice period
The amount will be paid post deduction of applicable taxes
The payout is solely at the discretion of the management at the time of payout
In the event of your ceasing to be an employee of the company before completion of 12 months from the date of payment of the
above-mentioned amounts, you shall be liable to pay the entire amount. The Company has the right to set off the amount not paid
against any dues payable to you