December 07, 2009

Mr. Ramesh Chaugule

Kolhapur

Dear Ramesh,

With reference to your application and subsequent discussions you had with us, we are pleased to appoint you
as “ Assistant Product Manager” Tieiqa Financial Solutions Co. Ltd. to be based at Kolhapur.

1. DATE OF JOINING

You are required to join the services of the Company within but not later than October 10, 2009
and your appointment shall be effective from the first day that you join the services of the Company. Failure to
report for duty on the aforesaid date will make this offer invalid
automatically employment and it will be
deemed to be withdrawn, with immediate effect, without any further reference to you.

2. REMUNERATION
Your Cost to company(‘CTC’) will be Rs. per annum, of all an non-
224,000 inclusive taxable d taxable
emoluments, allowances, perquisites and benefits and statutory contributions.

* Employee’s PF Contribution is @ 12% of Basic.

The detailed policies/procedures/rules and regulations governing the salary administration as well as
finalization of salary components under Flexible Benefit Plan would be provided to you after you join the
company. Your remuneration would be subject to statutory deductions / contributions as appropriate
and consistent with the laws and regulations of India.

In addition to the above compensation, you may be awarded a performance bonus/ incentive, in a
given financial year, by the Company, in its sole discretion and in keeping with its policies.

3. GRATUITY

You will be eligible for gratuity as per the Payment of Gratuity Act, 1972.

4. EXCLUSIVE SERVICE

Unless the Company otherwise consents in its sole discretion, you will devote your entire resources and full and
undivided attention exclusively to the business of the company during the term of your employment with
the Company and shall not accept any other employment or engagement (honorary or otherwise).

5. CONFIDENTIALITY

The Company considers the protection of its confidential information and proprietary materials to be very
important. All work or material developed by you during the course of your employment with the Company will
remain the sole and exclusive property of the company. Any unauthorized disclosure of confidential or
copyrighted materials of the company would attract stern action from the company including and not limited to
termination of your employment and legal prosecutionnecessary. You shall disclose or o
as not divulge r
cause to be disclosed or divulged confidential information even when you are no longer in the employment of
the company.