LETTER OF UNDERTAKING

TO BE OBTAINED FROM THE EMPLOYEE - CANCELLATION OF IRDA LICENSE

Date : …………………..
From
………………..
Employment No…………

To,
The Head, Human Resources,
Chola Business Services Limited.

Dear Sir,
Sub: Undertaking regarding surrender of existing IRDA/Other Licenses.

I,………………………………………….….S/o…………………………….……………aged about……….years, residing

at…………………………………………………………………………………………………………………………………………………
……….………..and employed as…………………………………………….(Emp ID No…………) in Chola Business
Services Limited (CBSL), do hereby solemnly affirm, state and undertake as follows :

1. That I am aware of all terms and conditions of the employment, I shall, so long as in the
service of the Company devote my whole time, attention to the business, interests of the
Company and shall not engage in any other business or occupation whatsoever or be
interested either directly or indirectly or in whatsoever manner in any business or
undertaking having interest opposed to or competitive with the interests of the Company or
in any business or undertaking having transactions with the Company except with the
Company’s consent in writing.

2. I undertake to cancel, de-register, surrender all licenses, permissions, approvals,

consents, etc., if any obtained by me, either directly or indirectly in my name or for my own
benefit, from IRDA or such other authorities or bodies governing insurance, mutual
funds or such other financial products, within 30 days from date of this undertaking.

3. I also undertake that I will not apply or enroll for any licenses, permissions, approvals,
consents, from IRDA or such other authorities or bodies governing insurance or other
financial products, either directly or indirectly during the course of my employment with the
Company.(If CBSL requires only then I will apply)

4. I agree and acknowledge that the restrictions contained herein are necessary to protect
legitimate business interest of the Company and the restrictions are reasonable in all
respects.

5. I undertake to abide by the decision of the Company in the event of any breach of this
undertaking or any misrepresentation of the facts in whatsoever manner.

Yours faithfully,

Signature of employee