We manage your employee s benefits, to ensure you a guaranteed peace of mind

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1 We manage your employee s benefits, to ensure you a guaranteed peace of mind Exide Life Group Traditional Employee Benefit Plan Ÿ Guaranteed growth in fund Ÿ Tax benefits Ÿ Gratuity liability management services exidelife.in

2 Exide Life Group Traditional Employee Benefit Plan Exide Life Group Traditional Employee Benefit Plan is a non-participating, non-linked variable insurance plan which creates retirement corpus through guaranteed returns wherein the employer/trustee is the policyholder & employees are the scheme members. The objective of the Exide Life Group Traditional Employee Benefit Plan is to manage employee benefits like leave encashment and gratuity for the employees, and helps in building a substantial fund, to ensure hassle free discharge of the liabilities as a responsible employer. Key Features Minimum Floor Rate (MFR): Get a minimum guaranteed interest rate of 1.5%p.a. for the entire term of the Policy. Additional Interest Rate (AIR): The Company shall also declare a non-zero-positive additional interest rate at beginning of every quarter and will remain guaranteed for that quarter. Tax Benefits: Tax benefits for employer and employees as per the applicable tax laws. Gratuity Liability Management Services: The Company will assist employer/trustees in managing gratuity liabilities. Parameters Type of Group Minimum Size of the Group Maximum Size of the Group Minimum / Maximum Age at Entry Minimum / Maximum Maturity Age Minimum Policy Term Maximum Policy Term Minimum / Maximum Sum Assured of a Member Minimum Balance in the Policy Account Maximum Balance in the Policy Account Mode of Contribution Employer Employee Groups 10 members No Limit 18 years 84 years age last birthday or As per Scheme Rules 85 years or As per Scheme Rules 1 Year (Yearly Renewable) The policy will be renewed at Policy Anniversary date every year and will be in force unless it is specifically terminated by Master Policyholder or Exide Life Insurance. `1,000 `1,00,000 No Limit Annual, Quarterly, Half Yearly, Monthly How does the plan work? Step 1 Step 2 The Contribution with respect to defined benefit group fund based Schemes shall be made in accordance with the Actuary's certificate as per AS 15 (Revised) obtained by the Employer. The Company will earmark assets for this product separately and the Policy Account under the product shall be disclosed on a daily basis in the company's website through specifically assigned identification number (SAIN) for the fund for this product Step 3 The contributions may be made monthly, quarterly, half-yearly or yearly. Step 4 A Policy Account will be maintained in respect of every scheme as a whole. Step 5 Step 6 Shadow policy account value shall be maintained on daily basis. Such shadow policy account shall be computed based on the actual accruals of all income elements like premiums, income from investments as and when received and all actual debits from the policy account value as and when debited, to arrive at the actual gross investment return and reduction in yield to the policy account value, at the end of each policy year. An insurance cover of `1,000 shall be provided under this plan and the mortality charges for the same shall be deducted from Policy Account Value at the start of every year.

3 Benefits Product Features Events Death of a member Retirement / Resignation / Disability / Exit due to other reasons as mentioned in the scheme rules Amount of Benefits Accrued benefit in accordance with the scheme rules of the employer plus Sum Assured of `1,000 is payable. Accrued benefit in accordance with the scheme rules of the employer is payable On Full Surrender / Winding up of scheme Payment of the above mentioned Benefits (except for the Sum Assured of `1,000) is made, provided that the Policy Account Value on the date that the payment becomes due is sufficient for the payment to be made. If the Policy Account Value is not sufficient to pay the accrued Benefit the Employer shall bear the shortfall entirely. The master Policy has an indefinite term and hence does not have a specified maturity/vesting date. Policies opted for Additional Funding: Policy Account Value less unrecovered charges for additional funding less surrender charge of 0.05% of Policy Account Value less MVA. Surrender charge is subject to a maximum of `5,00,000. Policies not opted for Additional Funding: Policy Account Value less surrender charge of 0.05% of Policy Account Value less MVA. Surrender charge is subject to a maximum of `5,00,000. Policy Account and Interest Additions The Company will maintain a pooled fund at Master Policy level for every Scheme and is referred to as Policy Account. The Policy Account Value will be calculated by crediting all Contributions received and interest credited less all applicable Charges and withdrawals, as per Rules of the Scheme. The benefit on various events (like resignation, death, retirement, termination or disability) will be paid from the respective Policy Account as per scheme rules in consultation with Master Policyholder. The Policy Account is credited with following interest rates at the end of each policy year: a. Minimum Floor Rate: The policy account will 1.5% p.a. compounded interest for the entire policy term. The interest will be accumulated on the balance of the Policy Account at a quarterly frequency. b. Additional Interest Rate: In addition to MFR, the Company shall also declare a non-zero-positive Additional Interest Rate (AIR) over and above the MFR declared at beginning of every quarter and will remain guaranteed for that quarter. The AIR shall be credited to the policy account on a quarterly basis. The AIR is calculated as 70% of the Gross yields to be earned on the backing assets less the MFR. c. Residual Addition (RA): In addition to the above two rates, Non-negative Residual Addition, if any, for that policy year shall be credited to the policy account starting from the end of policy year 1 and will be such that it meets at least the reduction in yield criteria at the end of each year starting from policy year 5. The maximum reduction in yield in this product is capped at 200bps. The Gross Yield will be calculated in the following manner: Gross yield as on the date of valuation, is calculated as the yield earned in the policy account calculated using the money weighted rate of return method at the end of each quarter. The MFR and AIR will be accumulated on a frequency of not less than quarterly on the balance of the policy account at the beginning of each quarter. In addition, MFR, AIR and RA will allow for additional premiums / contributions net of withdrawals received into the policy account during the quarter on a pro rata basis. Contributions The Employer shall pay to the Company, in respect of each continuing Member, a contribution of such amounts as are sufficient to secure the Benefits (the Ordinary Contribution ). The Ordinary Contribution shall be paid in monthly, quarterly or semi-annual installments, as may be mutually agreed between the Company and the Employer. Past service gratuity liability contribution may be made in lump sum or in installments by Master Policyholder spread over not more than 5 years. No Top-up is allowed, unless required as per Actuary's certificate in accordance with the AS 15 (Revised) to address the underfunding of the Schemes. The contribution with respect to defined benefit group fund based schemes shall be made in accordance with the Actuary's certificate as per AS 15 (Revised) obtained by the employer. In case the Policy Account Value is overfunded as per such certificate, the Company may allow "nil contribution" under the schemes until further contribution is required. In all such cases of nil contribution, the scheme shall not be treated as discontinued. Even in cases where requisite contribution is not received, as long as sufficient balance is maintained in the fund, the policy will continue and get annually renewed. No top-up is allowed under defined benefit schemes, unless required as per Actuary's certificate in accordance with the AS 15 (Revised) to address the underfunding of the schemes.

4 Additional funding options The policyholder has an option to choose additional funding on the contributions made. This additional funding refers to extra amounts of money funded by the Company over and above the initial contributions. Such funding are recovered over a period of time in the form of deductions from the policy account value. This can be opted on the initial contribution made during the first policy year. The additional funding can be up to maximum of 3% of the initial contribution. In the instances where a policyholder has availed of additional funding, the additional funding will be recovered through a deduction from the policy account value. This deduction will be equal to 0.55% p.a. of initial contribution on which the additional funding has been opted till end of policy year in which the recovery is completed. The recovery period for various levels of funding is illustrated in the table below: Additional Funding as a % of the initial contributions 3% 2% 1% Deduction (in % p.a.) of the initial contributions 0.55% 0.55% 0.55% Recovery Period (in years) In case of the surrender of the policy before the above mentioned recovery period, the unrecovered additional funding will be deducted from the policy account balance before paying the surrender benefits. Charges Mortality Charges There will be a mortality cover of Rs 1,000 per member. The mortality charge for the same will be `1 for the life cover offered in this Policy. Surrender Charges There will be a surrender charge of 0.05% of the policy account value less unrecovered additional funding (if applicable) with a maximum of `5,00,000, if there is surrender in the first 3 years of the policy. There will be no surrender charges after 3 years except MVA where applicable. Bulk Exits If the total amount on exit, due to any event, as defined in the scheme rules, in a policy year, exceeds 25% of the balance in the Policy Account, such an exit will be termed as Bulk exit. Market Value Adjustment (MVA) shall be applied only to the amount which is over & above the amount representing bulk exit. MVA losses (if any) shall be adjusted from Policy Account. Market Value Adjustment The market value adjustment is a factor to cover the market value losses of the underlying investment in relation to the balance in the Policy Account. MVA is applicable on complete surrender and Bulk Exits. Formula to arrive at the Market Value Adjustment (MVA) is: MVA amount = [Maximum (0, Policy Account Value Market Value) / Policy Account Value] * (Net amount which is over $ and above the amount representing Bulk Exit ) $ Net amount would represent full account value in case of complete surrender Where, Market Value is derived from the revaluation of assets at the time when MVA is carried out. The assets will be earmarked separately for this product. The MVA amount, if any, will be deducted from the Policy Account Value. Example: If the book value of the policy account is 10, 00,000 and the Market Value at the time of bulk exits is 9, 00,000, The MV loss is 10%. Let's say the requested amount for withdrawal is 4, 00,000 then the amount representing bulk exit will be (4, 00,000 25%* 10, 00,000) = 1, 50,000 MVA = ((10,00,000-9,00,000)/10, 00,000)*(1, 50,000) = 15,000

5 Terms and conditions Tax Benefits Policyholder will be eligible for tax benefits as per the prevailing Income Tax laws. Tax laws are subject to amendments from time to time and interpretations. You are advised to consult a tax expert. Free Look Period The Policyholder shall have a period of 15 days (30 days if the Policy is sourced through Distance Marketing#) from the date of receipt of the Policy document to review the terms and conditions of this Policy and if the Policyholder disagrees with any of the terms and conditions, he/she has the option to return the Policy stating the reasons for the objections upon which the Company shall return the Premium paid subject to deduction of proportionate risk Premium for the period of insurance cover in addition to the expenses incurred on medical examination (if any) and the stamp duty Charges. All Benefits and rights under this Policy shall immediately stand terminated on the cancellation of the Policy. # Distance Marketing includes solicitation through all modes other than in person. Suicide exclusion Not applicable Nomination Nomination should be in accordance with provisions of Section 39 of the Insurance Act 1938 as amended from time to time. This is a Group Insurance policy and the Insured Member shall appoint the nominee, therefore reference to Policyholder in the Annexure A to be read as Insured Member. MWP Act shall not be applicable to this Policy. [A Leaflet containing the simplified version of the provisions of Section 39 is enclosed as Annexure (A) for reference.] Risk Factors a) Exide Life Group Traditional Employee Benefit Plan is a Non- Linked, Non-Participating Variable Insurance Product. b) Exide Life Insurance Company Limited is only the name of the Company and Exide Life Group Traditional Employee Benefit Plan is only the name of the product and does not in any way indicate the quality of the product, its future prospects or returns. c) The purpose of this brochure is only to provide a general overview about this policy. The information herein is indicative of the terms, conditions, warranties and exceptions contained in the policy terms and conditions of Exide Life Group Traditional Employee Benefit Plan. Please refer to the policy terms and conditions to understand in detail the associated risks, benefits, charges etc. about the plan. d) In the event of any inconsistency/ambiguity between the terms contained herein and the policy terms and conditions, the policy terms and conditions shall prevail. Section 41 - Prohibition of Rebate (1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer. (2) Any person making default in complying with the provisions of this section shall be punishable with fine which may extend to ten lakh rupees. About Exide Life Insurance Company Limited (As on March 2017) Exide Life Insurance Company Limited, an established and profitable life insurance company, commenced operations in and is head quartered in Bengaluru. The company is 100% owned by Exide Industries Limited. The company serves over 15 lakh customers and manages assets of over `11,000 Crores. During the financial year , the company achieved Total Premium Income of over `2,400 crores and delivered `112 crores in Profits (PBT). Exide Life Insurance distributes its products through multi-channels viz. Agency, Banc assurance, Corporate Agency & Broking as well as Direct Channels. The Agency channel comprises of 50,000+ advisors who are attached to over 200 company offices across the country. The company also offers group life insurance solutions. The company is focused on providing long term protection and savings solution plans and has a strong traditional product portfolio with a consistent bonus track record. The company has ISO 9001:2008 quality certification for all Customer Service processes and the ISO/ IEC 27001:2013 for information security management. Our Shareholders About Exide Industries Limited - Exide is India s largest manufacturer of electric storage batteries and its biggest power-storage solutions provider with a market capitalization of over `19,000 crores*. Since its introduction in India more than a hundred years ago, Exide remains the foremost and the most trusted battery brand in India. The century old brand equity is backed by a robust nationwide network of 18,000-plus dealers. (*As on 31st March 2017) With 7 world-class battery manufacturing factories across India, the range of products offered by the company covers everything from the smallest batteries required in motorcycles to the giant batteries powering submarines. After all, India moves on Exide.

6 Annexure - (A) Section 39 - Nomination by policyholder: Provisions regarding nomination of a Policy in terms of Section 39 of the Insurance Act, 1938, as amended from time to time are as follows: 01. The policyholder of a life insurance on his own life may nominate a person or persons to whom money secured by the policy shall be paid in the event of his death. 02. Where the nominee is a minor, the policyholder may appoint any person to receive the money secured by the policy in the event of policyholder's death during the minority of the nominee. The manner of appointment to be laid down by the insurer. 03. Nomination can be made at any time before the maturity of the policy. 04. Nomination may be incorporated in the text of the policy itself or may be endorsed on the policy communicated to the insurer and can be registered by the insurer in the records relating to the policy. 05. Nomination can be cancelled or changed at any time before policy matures, by an endorsement or a further endorsement or a will as the case may be. 06. A notice in writing of Change or Cancellation of nomination must be delivered to the insurer for the insurer to be liable to such nominee. Otherwise, insurer will not be liable if a bonafide payment is made to the person named in the text of the policy or in the registered records of the insurer. 07. Fee to be paid to the insurer for registering change or cancellation of a nomination can be specified by the Authority through Regulations. 08. On receipt of notice with fee, the insurer should grant a written acknowledgement to the policyholder of having registered a nomination or cancellation or change thereof. 09. A transfer or assignment made in accordance with Section 38 shall automatically cancel the nomination except in case of assignment to the insurer or other transferee or assignee for purpose of loan or against security or its reassignment after repayment. In such case, the nomination will not get cancelled to the extent of insurer's or transferee's or assignee's interest in the policy. The nomination will get revived on repayment of the loan. 10. The right of any creditor to be paid out of the proceeds of any policy of life insurance shall not be affected by the nomination. 11. In case of nomination by policyholder whose life is insured, if the nominees die before the policyholder, the proceeds are payable to policyholder or his heirs or legal representatives or holder of succession certificate. 12. In case nominee(s) survive the person whose life is insured, the amount secured by the policy shall be paid to such survivor(s). 13. Where the policyholder whose life is insured nominates his a. parents or b. spouse or c. children or d. spouse and children e. or any of them the nominees are beneficially entitled to the amount payable by the insurer to the policyholder unless it is proved that policyholder could not have conferred such beneficial title on the nominee having regard to the nature of his title. 14. If nominee(s) die after the policyholder but before his share of the amount secured under the policy is paid, the share of the expired nominee(s) shall be payable to the heirs or legal representative of the nominee or holder of succession certificate of such nominee(s). 15. The provisions of sub-section 7 and 8 (13 and 14 above) shall apply to all life insurance policies maturing for payment after the commencement of Insurance Laws (Amendment) Ordinance, 2014 (i.e ). 16. If policyholder dies after maturity but the proceeds and benefit of the policy has not been paid to him because of his death, his nominee(s) shall be entitled to the proceeds and benefit of the policy. 17. The provisions of Section 39 are not applicable to any life insurance policy to which Section 6 of Married Women's Property Act, 1874 applies or has at any time applied except where before or after Insurance Laws (Ordinance) 2014, a nomination is made in favour of spouse or children or spouse and children whether or not on the face of the policy it is mentioned that it is made under Section 39. Where nomination is intended to be made to spouse or children or spouse and children under Section 6 of MWP Act, it should be specifically mentioned on the policy. In such a case only, the provisions of Section 39 will not apply. [Disclaimer: This is not a comprehensive list of amendments. Policyholders are advised to refer to Section 39 of the Insurance Act, 1938, as amended from time to time for complete and accurate details].

7 To know more about this product, please contact our nearest Branch Office. Or call us at or SMS EXL to or visit exidelife.in Exide Life Group Traditional Employee Benefit Plan UIN: 114N075V01. For more details on risk factors, terms and conditions please read the sales brochure of products carefully before concluding a sale. Goods & Services Tax (GST) shall be levied as per prevailing tax laws which are subject to change from time to time. Exide Life Insurance Company Limited is a wholly owned subsidiary of Exide Industries Limited. The trademark Exide is owned by Exide Industries Limited and licensed to Exide Life Insurance vide Trademark license agreement dated 30th October Exide Life Insurance Company Limited. IRDAI Registration number: 114, CIN: U66010KA2000PLC028273, Registered Office: 3rd Floor, JP Techno Park, No.3/1, Millers Road, Bengaluru ; Toll Free: ; Visit: exidelife.in; ARN : EXL/ /COLL/133 IRDAI Notice: Beware of spurious phone calls and fictitious/ fraudulent offers. IRDAI clarifies to public that IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with the details of phone call number.