EFU LIFE ASSURANCE LTD

EFU Life House, Plot No 112, 8th East Street, Phase I, DHA, Karachi
E-mail: [email protected], [email protected]

SALES CONSULTANT AGREEMENT (164680)

AND
Mr. Dheraj lal S/o Herjivan Lal CNIC NO. 4230123680401 Resident of House No 3 Hindu Colony NearDriving License Old
Clifton Karachi (here in referred to as the "Sales Consultant").

The term "Sales Consultant" shall mean any person acting as an Insurance Agent in order to procure Life Insurance business
on behalf of the company.

This Agreement witnesseth as under:

1. Agency

The Company hereby authorizes the Sales Consultant to solicit and procure Life Insurance business and to provide Services to
Clients. By virtue of this agreement a relationship of "Principal & Agent" is created where the Sales Consultant is the Agent and
the Company is the Principal. This "Principal and Agent" relationship shall not in any context or meaning be deemed to be of
"Employer & Employee". During the course of this Agreement, The Company shall provide the printed material to Agent, such
as approved application, form, policies which shall be used by the agent in the transactions of business on behalf of the
company.

2. Responsibilities of Sales Consultant:

The Sale Consultant shall have the following duties and obligation under the Agreement:

a) Report to Mr. Aroon Kumar, Senior Unit Manager, Karachi Paradise

b) Solicit and procure life insurance business and other financial services products offered by the Company and provide
efficient services to policyholders.

c) To faithfully perform all duties required hereunder, to cooperate with the Company in all matters pertaining to the
issuance of policies, cancellations, and adjustments of losses, and to promote the best interests of the Company

d) Meet business, persistency and other quality targets informed by the company from time to time.

e) Open a bank account or share details of existing bank account, whichever bank, with the Company for the purpose of all
payments.

f) Submit at least two (2) new proposals for life assurance in a month and meet business, persistency and other quality
targets fixed by the Company.

g) Deposit with the Company any premiums collected by him/her as soon as practicable and until such amounts are lodged
with the Company, the money collected will be deemed to be held on Trust for the Company.

h) To submit to the Company complete, signed, original policy applications and all other documentation
necessary to process the policy application.

i) Attend mandatory product / other training sessions arranged by the Company.

j) Not advertise, issue circulars or letters to prospects/policyholders without obtaining the Company's written
approval.
 k) On behalf of the Company, not make any commitment, modify or discharge any contract and incur any liability or debt.

l) Abide by the Company's procedures, training material, manuals, and underwriting guidelines issued by means of
letters, procedural manuals or otherwise.

m) Abide by the Insurance Ordinance, 2000 and other applicable insurance rules and regulations, relating to Sales
Consultants / Agents in force at present, and any changes made therein from time to time.

n) Not enter into an Agency Agreement with any other life insurance company during the course of this agreement with
the Company.

o) Not offer directly or indirectly any rebate of the remuneration payable to him as an inducement to take a life insurance
policy.

p) Immediately notify the Company of any complaint against Agent or Company arising from performance, or lack thereof,
of this Agreement.

q) Be responsible for the his/her acts, omission, commissions and in addition to those of the Agent's subagents, as fully as
though said acts were performed by the Agent.

r) To not conduct business in such a manner as to adversely affect the revenue, good standing or reputation of Company.
If any mis selling complaint is received from a policyholder after the Agent resigns and/or this Agreement is terminated,
the Agent shall be held responsible by the Company for any monetary losses incurred.

3. Commission of the Sales Consultant

The Company hereby agrees to pay commission, for so long as this contract is in force, on adjustment of amounts
collected by the Sales Consultant towards New Business and / or Renewal Premiums. The commission schedule
(SA/3/053) which is currently applicable is attached herewith and may be changed from time to time by the Company at its
discretion.

All Commission payments by the Company to the Sales Consultant shall be subject to deduction of the applicable tax at
source, if any, levied from time to time by the competent authority. All such payments shall only be deposited / paid into the
provided bank account belonging to the Sales Consultant.

The Company shall have the right to offset against any Commission due to the Sales Consultant and to withhold therefrom,
the amount of any debt, obligation or liability due to owning or to become due or owing or likely to become due or owing by
Sales Consultant to the Company, and such withholding and offset shall not create any cause of action against the
Company.

4. Termination

This Agreement may be terminated by a mutual written agreement between the parties, or by either party serving the other
with a 30-day written notice by registered mail. In absence of the above stated conditions, the Agreement shall only be
terminated as a result of:

a) The Sales Consultant failing to meet the agreed performance requirement as given in the Sales Consultant Career
Path (attached herewith). The performance will be reviewed on a regular basis.

b) The Sales Consultant not fulfilling the requirements and / or breaching any of the conditions stipulated in Clause (2) set
hereinabove.

c) The Sales Consultant misappropriating funds, having been found guilty of willful misconduct, gross
negligence or breach of trust.

d) Death or permanent disability of the Sales Consultant.

(a) immediately cease all marketing activities including soliciting applications for Policies; and

(b) within thirty (30) days after termination of this Agreement, transfer to Company all materials, books, accounts,
correspondence, and records relating to this Agreement, including, without limitation, sales brochures and other
items bearing any of the marks and any copies thereof.

This Agreement shall not extend to the benefit of any successor in interest of the Agent, nor may any interest under this
Agreement be assigned by the Agent without the prior written consent of the Company.

5. MISCELLANEOUS

a) Prior Agreements. This Agreement (including all attachments) supersedes, terminates, and otherwise renders null
and void any and all previous agreements.

b) Severability. If any of the provisions of this Agreement are declared to be unenforceable or invalid, such provisions
shall be severed from this Agreement and the other provisions hereof shall remain in full force and effect.

c) Waiver. Failure of Company to insist upon strict compliance by Agent with any of the items or conditions of this
Agreement shall not be construed as a waiver of such terms and conditions with respect to any subsequent default or
failure of performance.

d) Entire Agreement. The provisions of this Agreement constitute the whole and entire agreement between Company
and Agent and may be modified and altered only by mutual agreement, reduced to writing, executed by authorized
representatives, and delivered to each other.

IN WITNESS WHEREOF, the parties have set and subscribed their representative hands on the date, as mentioned above.

Countersigned
Witness 1
Signed for and on behalf of
Name: EFU Life Assurance Ltd

Signature:

Address:
Signature of Sales Consultant
(As per CNIC)

Witness 2
Name:
Sales Consultant's Code: 164680
Branch Name: Karachi Paradise
Signature: Branch Code: 785

Address: Print Date: 28 December