STRICTLY PRIVATE & CONFIDENTIAL

9 December, 2021

Iftkhar Ahmad Khan

House No. 184-13,
Hamdard Nagar B Jamalpur,
Near Kallu Halwai,
Aligarh - Uttar Pradesh,
202001

Dear Iftkhar Ahmad Khan,

We would like to thank you for meeting us to discuss a career opportunity with YES BANK LTD (YBL).

Based on our discussions, we are pleased to appoint you as Manager and Relationship Manager Yes
Premia :Retail Banking in YES BANK at Aligarh. You will be expected to carry out duties appropriate
to this appointment.

Although your normal work will consist of the duties assigned to you from time to time, you may be
called upon to discharge any other duties which in the opinion of the Bank are within capacity to
discharge and you will forthwith undertake to discharge those duties with diligence and care.

1) Compensation

Your Gross Annual Total Fixed Pay will be ₹ 725000.00 (Rupees Seven Lakh Twenty Five Thousand
Only), paid on the last day of each month. The Break-up of your compensation and details is attached as
Annexure I & II.

Your salary will be revised annually in accordance with the Bank's policy.

The Bank operates on a performance based Bonus/Incentive pay plan for employees, the payment and
level of which is as per the Bank's policy. Any such payment is contingent upon your performance on
the job and in accordance with the scheme established by the Bank.

Your salary is confidential and should be discussed only with your Functional Head and Human Capital
Management Department.

Iftkhar Ahmad Khan : 1167440 Page 1 of 11

2) Hours of Work

Actual hours may vary and will be subject to change from time to time; depending on the nature of your
work and the department you work in. You may be required to work on staggered timings/ shifts, the
timings for which may be altered from time to time. You should discuss details on specific working
hours with your Functional Head / Leader.

3) Probation Period

You will be on probation for an initial period of six months from the date of your joining. The probation
period can be extended at the discretion of the Bank. Your probation period will be deemed to be
extended at the end of the probation period, unless you are informed in writing stating that (i) your
probation period has ended; and (ii) you have been confirmed in the services of the Bank. Your
confirmation will be subject to satisfactory performance, as per the policy of the Bank. The Bank may at
its sole discretion issue such confirmation from retrospective effect.

4) Leave

You will be governed by YBL's Leave and Attendence Policy announced from time to time. Please note
that your employment is liable to be terminated if you absent yourself from the services of the Bank,
without prior written permission or overstay sanctioned leave for a period exceeding seven days, except
in cases of medical exigencies (which will need to be supported by a medical certificate).

5) Notice Period / Separation/Termination

It is understood and agreed that this engagement may be terminated by either party by giving to the
other at anytime, notice in writing of 30 days. The termination shall take effect at the end of such notice
period.

Termination with immediate effect, may be made by either party by paying to the other an amount
equivalent to 30 days of Salary in Lieu of notice. In the event the termination with notice is at the
instance of the Employee, the Bank at its sole discretion reserves the right to relieve the Employee on
any date during the notice period by waiving the notice period in full or part without paying any
amount towards the balance notice period.

Iftkhar Ahmad Khan : 1167440 Page 2 of 11

6) After Confirmation

It is understood and agreed that this engagement may be terminated by either party by giving to the
other at anytime, notice in writing of 90 days. The termination shall take effect at the end of such notice
period. Termination with immediate effect, may be made by either party by paying to the other an
amount equivalent to 90 days of Salary in Lieu of notice. In the event the termination with notice is at
the instance of the Employee, the Bank at its sole discretion reserves the right to relieve the Employee on
any date during the notice period by waiving the notice period in full or part without paying any
amount towards the balance notice period.

7) Termination Without Notice

At the sole discretion of the Bank your services are liable to be terminated without any notice or salary
in lieu thereof in the event of your involvement in any serious misconduct, misdemeanour or any
offence which may or may not be directly connected with the business of the Bank.

8) Leave during notice period

You will not be entitled to avail privilege leave while serving the notice period.

Note - For the purpose of calculating Salary in lieu of notice period, "Salary" means Fixed Pay less retiral
components (PF and Gratuity).

On leaving the services of the Bank, for whatsoever reason, you will immediately handover all the
documents, data or any article / property of the Bank entrusted to you to enable the Bank to settle your
dues.

9) Mobility

In view of the nature of our business, it may become necessary to require you to work in different
divisions, associate companies, concerns, sections, subsidiaries, entities, offices or locations of YES Bank.
Acceptance of our offer of employment is acceptance of this obligation of flexibility on your part.

10) Retirement

The age of retirement in the Bank is 60 years. Your date of birth, as confirmed by you has been recorded
as 01-05-1982 in the Bank's records.

Iftkhar Ahmad Khan : 1167440 Page 3 of 11

11) Other Terms and Conditions

During your employment, you will be subject to the service rules, regulations and policy of the Bank
applicable from time to time.

The terms and conditions contained herein shall be read along with the instructions, guidelines, policies,
etc. and amendments thereof as presently applicable to you and as may be amended from time to time
and as may be made applicable to you by the Bank subsequently during the course of your employment.

Any other terms, conditions, stipulations not specifically mentioned herein shall be governed by HR
Manual and other Policies and procedures of the Bank as presently applicable and as may be amended
from time to time.

You will not, during the continuance of your employment undertake or carry on either alone or in
partnership nor be directly or indirectly employed in or concerned with as principal agent, clerk,
assistant, consultant, servant or otherwise in any other business, trade, or profession [Link]
will devote your whole time and attention to your duties with the Bank.

Post your acceptance of this offer and employment with YES BANK Ltd., you authorize the Bank to
deposit the amounts due to you from the Bank into your salary account with YES BANK Ltd. You
further authorize the Bank to debit your salary account for all amounts due to the Bank in case of the
dues not being cleared by you.

You shall not during the course of your employment engage, participate, whether directly or indirectly
in any business competitive to the business of the Bank.

You shall not do anything or cause to do anything, which shall bring dishonor and/or disrepute to the
Bank or engage in unlawful/immoral activities.

If at any time you are involved in any legal / administrative / quasi- judicial proceeding(s) you shall
immediately inform the Bank the details thereof. You shall not at anytime use your association with the
Bank to gain unfair advantage for personal purposes. You shall follow all
directions,instructions,guidelines and policies of the Bank issued from time to time in discharge of your
duties.

In case you leave the services of the Bank on your own accord within 2 years of joining the Bank, then
joining financial commitments like notice period takeover, relocation expense, bonus paid at the time of
the joining and performance bonus or any other financial amount paid to you, other than your fixed pay,
paid during the period of employment with the Bank etc. will be recovered in full. For the purpose of
reckoning the period of 2 years, the date of resignation or last date of employment with the bank will be
considered, whichever is earlier.
Iftkhar Ahmad Khan : 1167440 Page 4 of 11
12) Reservation of Rights

In the event of your leaving the service of the Bank for any reason, you shall immediately repay all
outstanding amounts due from you to the Bank and return all documents and assets belonging to the
Bank. Similarly you shall discharge all obligations (as applicable) in terms of vacating Bank's Leased
accommodation, obtaining refund of house deposit (if applicable).

In the event of severance of your employment with the Bank without settling amounts due from you to
the Bank or fulfilling your obligations, the Bank reserves the right to take appropriate remedial action to
protect its interest, including institution of legal proceedings.

The Bank at all times reserves the rights to have a lien over the dues payable to you for recovery of cash
advances/loans advanced to you by the Bank and which are outstanding against your name.

13) Professional Ethics & Confidentiality

You acknowledge that the business of the Bank is highly competitive and that any information
concerning the Bank's business (including but not limited to strategies, methods, books, records and
documents, technical information concerning its products, equipment, services and processes, customer
lists, procurement procedures, pricing techniques and credit and financial data concerning Bank's
customers and business affiliates) all comprise confidential business information and trade secrets, vital
to the business of the Bank.

You hereby agree that you will not, at any time during or after your employment with the Bank, make
any unauthorized disclosure of any confidential business information or trade secrets of the Bank, or
make any use thereof, except for the benefit of and on behalf of, the Bank. For the purpose of this
paragraph, the term Bank" shall also include all affiliates of the Bank.

Any disclosure which has not been expressly authorized by the Bank shall be called 'unauthorized
disclosure'. For the purpose of this paragraph; the term "Bank" shall also include all affiliates of the
Bank.

Unauthorized Disclosure and use of confidential information constitutes a serious misconduct & the
Bank shall be entitled to take appropriate disciplinary action against you including termination of
service. Disclosure and use of Confidential information of the Bank after the termination of your
relationship with the Bank shall entitle the Bank to initiate appropriate legal proceedings, including but
not limited to seeking an order of injunction".

Iftkhar Ahmad Khan : 1167440 Page 5 of 11

Where disclosure of Confidential information is made by you in observance of order of a competent
court or may be required to made under any applicable law you shall inform the Bank either before or
immediately thereafter the nature and extent of disclosures made and the circumstances under which
those disclosures were required to be made by you.

During the period of your association with the Bank you will safeguard all matters, documents, manuals
etc. relating to the Bank's operations and you will not be permitted to undertake any other business,
work of public office, honorary or remunerative, except with the written permission of the Bank in each
case.

The Insider Trading Policy of YES Bank prohibits its employees from using confidential price sensitive
or material non-public information in any transaction, personal or otherwise. The definition of insider
dealing, its prohibitions and highlights are detailed in the Insider Trading Policy which is a part of the
joining documentation.

While you are in the service of the Bank, you will also adhere to the Bank's Code of Conduct, IT Security
Practice & Procedures & other guidelines/policies as prescribed by the Bank and as applicable at present
and as may be modified from time to time. You are required to acknowledge that you have read &
understood the same and undertake to abide by them at all times.

14) Intellectual Property

All Works developed by you during the course of your employment with the Bank, shall belong
exclusively to the Bank and you hereby assign the ownership of copyrights of such works and those of
any other derivative works, to the Bank. You will promptly provide to the Bank a complete written
disclosure for each such work identifying the features or concepts you or the Bank believe to be new or
different. You grant to the Bank an irrevocable, nonexclusive, worldwide, perpetual, paid-up license
under these Works. The license scope is to make, have made, use, have used, sell, license or transfer
items of such Works and to practice and have practiced methods pertaining to such Works. You are
specifically made aware that you will not be liable to any compensation for such acts of yours, and that
any rewards which the Bank may choose to bestow will not be deemed to confer any rights towards that
invention, discovery or improvement in system or method, for you. You shall promptly upon intimation
by the Bank, sign and execute such document, papers, declarations including deed of assignment as
may be required by the Bank from time to time.

Iftkhar Ahmad Khan : 1167440 Page 6 of 11

15) Indemnity

You shall indemnify the Bank against any loss, damage, proceeding which the Bank might suffer due to
any wrongful acts, mala fide acts, negligence and /or gross dereliction of duties on your part. Such
indemnity shall not prejudice the right of the Bank to terminate your services on such count or the right
of the Bank to seek other remedies which the Bank may have to make good the Loss or damage.

16) Conditions of Employment

Your appointment and your continuation in employment are subject to:

1. The Bank receiving satisfactory references as per the existing YES BANK Ltd. reference
check policy.
2. Subject to receiving a Medical Fitness Declaration from you;this has to be submitted online
while completing your joining formalities. During the course of your employment the Bank
may require you to undergo medical examination if need so arises. The Bank reserves the
right to terminate your employment in the event you are no longer fit to dicharge your
duties effectively or in the event of prolonged absence on medical grounds.
3. The Bank receiving the attested copies of all your age, educational and professional
qualifications.
4. The Bank receiving the original relieving letter from your previous employer.
5. The Bank is proceeding on your candidature based on the documents/ declaration/
information furnished by you in the Pre Hire Reference Check Form and during the
discussion/ interview which you have declared as being true and correct. The Bank reserves
the right to cancel your candidature or withdraw employment offer made to you at any
stage during the selection and offer process and/or terminate your employment in the event
any information furnished by you is found to be false/ misleading or incorrect.

You will be subject to the rules and regulations framed by the Bank from time to time.

Iftkhar Ahmad Khan : 1167440 Page 7 of 11

17) Validity

The offer of employment shall be valid till 16 December, 2021 [Link] PM IST and you are required to
communicate your acceptance of the same in writing on or before the said date by signing and returning
a copy of this offer letter. You should join duties latest by 31 December, 2021.

In case you do not communicate your acceptance of the offer or do not join duties on the date mentioned
above, the offer contained in this letter shall stand automatically cancelled, unless specifically extended
by the Bank, in writing. Upon your joining duties this letter of offer shall be deemed to be your
appointment letter. Please sign and return a copy of this communication in acknowledgement of
receipt and acceptance.

We welcome you as a member of our team and wish you a successful career with YES Bank.

Yours sincerely,

Digitally signed by PRADHAN SANGRAM KESHARI

Date: 2021.12.10 [Link] +05:30
Reason: YES BANK Ltd. Offer/Appointment Letter Digital Sign

Sangram Pradhan
HR Head - Support Services

Enclosures : Annexure I & II

I acknowledge that I have read and understood each and every term and condition set out in this
Appointment letter & the enclosed Annexures and hereby agree, accept and undertake to abide by all
the aforesaid terms and conditions.

Accepted by:

Name: Iftkhar Ahmad Khan

Signature:

Date:

Iftkhar Ahmad Khan : 1167440 Page 8 of 11

ANNEXURE – I
Break up of Total Cost to Company (TCC)

Employee Name : Iftkhar Ahmad Khan

Candidate ID: 1167440-REL0003M9
Business Unit : Retail Banking
Designation : Manager and Relationship Manager Yes Premia
Location : Aligarh
Total Cost to Company : ₹ 725000.00
Total Cost to Company : Rupees Seven Lakh Twenty Five Thousand Only

Details of salary Structure Annual (₹ P.A.)

Basic Salary
1. Basic 217500.00
2. HRA 108750.00
3. Supplementary Allowance 300813.00
4. Conveyance 19200.00
5. Medical Allowance 15000.00
Reimbursements
6. LTA 18125.00
Retirals
7. Provident Fund 26100.00
8. Gratuity 10462.00
Benefits
9. Group Life Insurance 3085.00
10. Group Mediclaim 5965.00
Total TCC 725000.00
NB : Group Life Insurance & Critical Illness scheme is compulsory and covers only the
employee.

Group Mediclaim coverage is compulsory for the employees. Inclusion of direct dependents (i.e. spouse
and children) is optional. The premium amount mentioned above is only for single/ unmarried
employee with default coverage of Rs. 5 Lakh as per the current Group Mediclaim Policy (Please refer
the Group Mediclaim Policy 2020-21 for details). Employee can enroll his / her dependent (Spouse / up
to 3 Children till the age of 21 years) with additional premium. Additional top up option can be opted at
a minimal premium of sum Insured of Rs. 3 Lakhs or 5 Lakhs over the base cover of 5 Lakhs.

Iftkhar Ahmad Khan : 1167440 Page 9 of 11

ANNEXURE - II

Compensation

Basic
Basic salary is 30% of the TCC. It will be paid monthly through payroll and is subject to tax as per the
prevailing Income Tax rules.

House Rent Allowance (HRA)

HRA is 50% of Basic. It will be paid monthly through payroll. Tax exemption may be claimed on
submission of the rent receipt / lease agreement as per the prevailing Income Tax rules.

Conveyance
Conveyance of ₹ 1,600/- per month will be paid through payroll. The total annual amount of ₹ 19,200/-
per annum is exempt from tax as per the prevailing Income Tax rules. Employees who have availed
the Company car benefit will not be eligible for this allowance.

Supplementary Allowance
It will be paid monthly through payroll and will be subject to tax as per the prevailing Income Tax rules.
(This allowance amount is arrived at after deducting all other compensation components from the TCC).

Bonus
The Bonus amount is paid monthly. This amount will be considered as Bonus Payable under the
Payment of Bonus Act 1965, if applicable.

Medical Allowance
Medical Allowance is paid monthly and it is taxable.

Reimbursements

LTA
You are eligible for one month's basic as LTA. LTA can be claimed upon submission of the original bill
and tickets. Only Domestic Travel is considered. An employee needs to avail minimum 3 days leave to
avail LTA. This amount is exempt from tax subject to your submitting the bills and also as per the
prevailing Income Tax rules. Any unclaimed amount will be paid net of tax at the end of the financial
year (i.e. with March salary).

Iftkhar Ahmad Khan : 1167440 Page 10 of 11

Note:
Basic Salary and other allowances are paid on pro-rata basis for the days payable for each month. These
are not payable for any days of Leave without pay.

Retirals

Provident Fund (PF)

The company's contribution towards PF would be 12% of the basic salary. Your contribution of 12% will
also be deducted every month through payroll. You can increase your PF contribution to more than 12%
but upto maximum of 88% voluntarily which is called as Voluntary Provident Fund (VPF). The amount
will be tax exempt as per the prevailing Income Tax Rules.

Gratuity
The company contributes 4.81% of the basic salary as Gratuity. This amount is payable to you upon
your resignation / retirement. The same is computed on 15 day's basic salary for each completed year of
service.

Benefits

Group Life Insurance / Critical Illness

Your coverage will be 3 times your TCC. This coverage is only for the employee. In the event of your
death the same will be paid to your family. The premium for the same will be adjusted from your TCC.

Group Mediclaim Insurance

Group Mediclaim coverage is compulsory for the employees. Inclusion of direct dependents (i.e. spouse
and children) is optional. The premium amount mentioned above is only for single/ unmarried
employee with default coverage of Rs. 5 Lakh as per the current Group Mediclaim Policy (Please refer
the Group Mediclaim Policy 2020-21 for details). Employee can enroll his / her dependent (Spouse / up
to 3 Children till the age of 21 years) with additional premium. Additional top up option can be opted at
a minimal premium of sum Insured of Rs. 3 Lakhs or 5 Lakhs over the base cover of 5 Lakhs.

*If you wish to enroll your dependents, kindly do the needful within 30 days of joining.

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