STAR UNION DAI-ICHI LIFE INSURANCE CO. LTD.

REF: SUD/HR/10114 Date: 1 July 2010 Mr.SARAFARAJ BASAR EC: 10114 AM Dear Mr.SARAFARAJ BASAR,

We take this opportunity to thank you for your valuable contributions to Company’s business performance during the year 2009-2010.

Your revised Total Fixed Pay for 2010-2011 effective from 01st April 2010 is

Rs. 272,160.The components of your CTC structure are reflected in Annexure-I

The year ahead is going to pose several challenges which will require exceptional performance from all of us to continue as India’s fastest growing Life Insurance Company. We are confident that you will rise to this challenge and pool in your energies, competencies and commitment to achieve further milestones of success. We hope that your positive attitude and team spirit will help in achieving substantial growth in revenues and profitability for our Company, setting high standards of Customer Service.

Let us commit ourselves to New Business Targets for FY 2010-2011

Individual Group New Business Premium : 1050 cr 200 cr Persistency Ratio : 75% 80% Claim Settlement Ratio : 90% 90%

Best Regards,

Asst Vice President – Human Resources

Encl: a/a Please sign the duplicate copy of this letter as a token of acknowledgement of the same.

“Creating a Winning Team…….ready to leap forward”

STAR UNION DAI-ICHI LIFE INSURANCE CO. LTD.

ANNEXURE 1

Employee ID: 10114 Name: Mr.SARAFARAJ BASAR

Salary Component Annual Amount (Rs)

Remarks

Basic Salary Rs. 70,150 50% of Fixed Salary

Provident Fund Rs. 8,418 Company’s contribution to PF @12% of Basic.

Variable Salary Rs. 93,460

Mobile & Internet Reimbursement

Rs. 14,400 Will be subject to production of Valid receipts.(Field Staff Only)

Conveyance Reimbursement

Rs. 24,000 Will be subject to production of Declaration forms.

Flexible Components * Rs. 61,732

Flexibility to the employees to plan a tax-effective compensation structure by balancing the Monthly Net Income, Yearly benefits and Income Tax payable.

* ALLOCATED COMPONENTS as per earlier submitted sheet

House Rent Allowance Rs. 35,075 Upto 50% of Basic Salary

Medical Reimbursement Rs. 0 Upto a maximum of Rs.15,000/- p.a

LTA Rs. 0

Upto a maximum of 12.5% of Basic and can be claimed once in a block of two years after completion of one year’s service.

Special Allowance Rs. 26,657 Balance amount of Flexi components will be added to the Special Allowance.

In Addition you are also eligible for:

Group Health Insurance (for those employees who have opted – joined before May 2010)

Group Personal Accident Policy on 24 hour basis. You are requested to sign and return a copy of the Annexure if the above structure is acceptable by you. In case if you need any modification/change you are advised to submit fresh Salary Break up Sheet on/before 15

th July 2010. No request would be entertained thereafter.

Kindly note that Remuneration is a contract between you and the company and should therefore be treated strictly confidential. Signature: ___________________________