POLICY AND PROCEDURE

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Employee Car Lease Policy

This procedure does not alter the Firm’s at-will employment policy
and may be changed or replaced at any time with or without notice.
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Purpose

The objective of this policy is to facilitate JLL employees to avail a company leased car which would be used
by the employee in the course of his/her employment with JLL for his/her official / business purposes and
optionally for personal purposes if any.

Scope

This policy applies to all eligible employees as identified in the section “Eligibility” across all JLL entities in
India.

The policy scope is restricted to JLL India employees who are citizens of India and resident in India.

Procedures

1. Standard Definition

1.1 This policy is effective May 01, 2019.

1.2 Lease Cost is defined as lease rental paid to leasing company plus Goods and Service Tax (“GST”)
Including cess (if any)

1.3 The Company reserves the right to withdraw this Scheme at any given point in time. In such case,
all existing Car leases would survive until the end of lease term subject to conditions specified in
Master Service Agreement between the Company (JLL) and Car Leasing Company.

1.4 Agreement refers to the contract signed between the Company and employee.

1.5 Modification refers to changing parts of the leased car including, but not limited, to the internal
parts of the leased car such as the engine, fuel pump, filters or other parts of the machine, or
external changes such as changing the tires, color of the body of the car, lights, audio system,
navigation system, installation of accessories, putting up stickers or any other change to the
physical appearance of the leased car being used by an employee. An employee is required to take
consent in writing from the Car Leasing Company before carrying out any changes on the leased
car.

1.6 Car Leasing Company refers to the entity, which is offering such cars on lease against payment of
a monthly lease rental basis.

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2. Policy Contents

This policy encompasses the following:

 Eligibility
 Lease tenure and lease rental
 End of lease tenure
 Termination of lease before completion of lease tenure
 Additional Terms
 Return conditions
 Taxation on lease transaction

3. Eligibility

3.1 Employee with CF level as mentioned below are eligible* to avail a company leased car have an
option to avail the benefit of a company-leased car for official / business and optionally for personal
purposes.

CF Band Applicable Levels

Leadership (L) All Levels
Management (M) All Levels
Producer (PR) PR4+
Professional (P) P4+

3.2 An eligible employee can avail only one car at a time under this scheme

3.3 The leased car should be in the same location where the employee is based.

3.4 The value of the car lease that can be availed will be restricted to 20% of the annual base salary
of one year (excluding commissions and bonus).

4. Lease tenure and lease rental

4.1 The lease tenure for the company leased car may be three (3) or four (4) years and shall be specified
in the agreement entered into by and between the employee and Company.

4.2 Once the lease tenure is finalized in the agreement, it cannot be modified for the pending lease
duration.

4.3 The lease tenure of the car starts from the commencement date, as determined by the lease
schedule for each individual car in the agreement.

4.4 It is the responsibility of the employee to close the lease transaction at the end of the lease tenure.

Eligible*: All employees who were in grades AD or above as of 30th September, 2018
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4.5 Any charges, including any rental/penal claim from the Car Leasing Company, arising out of delay
in closing the transaction, shall be borne by the employee.

4.6 Once the employee opts for a car under this policy after signing all the relevant documents and an
order for the vehicle has been placed, JLL shall not be in a position to cancel, once such order is
placed with Car Leasing Company.
If the employee wishes to cancel once the order is placed with Car Leasing Company, then only
option is to foreclose the car by paying the foreclosure charges.

4.7 Once the employee has opted for a car lease option, and is under any suspension, leave of absence
resulting in loss of pay or any other disciplinary proceedings, etc., as the case may be, cost
equivalent of the lease rental paid by the company will be recovered from the employees and any
taxes if applicable shall be charged accordingly.

5. End of lease tenure

5.1 The leasing company will send a written notification, intimating the employee using a lease car,
ninety (90) days prior to end of the lease tenure and shall follow up on the said notification sixty
(60) days prior to end of the lease tenure.

5.2 Upon intimation from Leasing Company regarding the impending end of lease tenure, the
employee will have to notify the Leasing Company in writing regarding his/her intent to return the
car forty-five (45) days prior to the end of the term for the car. If the employee fails to provide a
written notification to the Company, the employee shall be liable to pay a penalty as determined
in the agreement.

5.3 The employee shall return the car to the Car Leasing Company at the end of lease tenure as per
the individual lease schedule (location of return to be any place within the city of registration as
determined by Car Leasing Company). Please refer to the agreement for more details.

5.4 Subject to the JLL agreement with the Car Leasing Company, the maximum extension possible
towards returning the car is two (2) months (from the date of end of lease tenure). The employee
shall be liable to pay the additional two (2) months rental as per the last lease rental. The employee
shall also be liable to pay an additional lease rental for one (1) month as penalty for failure to return
the car at the end of the lease tenure. Upon failing to return the car at the end of the additional
two (2) months period, the employee shall be liable to pay the termination value as determined by
the leasing company.

6. Termination of lease before completion of lease tenure (Foreclosure)

6.1 Lease cannot be terminated prior to completion of the lease tenure or a minimum of six(6) months.
In such cases, the employee must complete all formalities towards closing of the lease transaction
and obtaining NDC (No Dues Certificate) to facilitate an early termination of the lease with the Car
Leasing Company. The employee shall bear all costs towards termination of the lease, GST,
foreclosure charges or any other applicable costs. Full and final settlement would be effected only
after the receipt of NDC.

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7. Additional Terms

7.1 Insurance Claims: In case of theft or extensive damage to the leased car due to an accident, the
employee must file an FIR at the nearest police station immediately. The employee shall be
required to inform the logistics/administration department immediately (within 1 working day)
who will then initiate necessary action for insurance claims. Any difference not paid through insurer
shall be settled by the employee. The lease agreement with respect to the said vehicle will be
treated as terminated thereafter.

7.2 Traffic fines & violations: Parking violations, traffic tickets, safety inspection violations, summons,
expired registration forms or any other form of violations, including associated administrative
costs, shall be the responsibility of the employee and shall not be reimbursed by the Company. The
Company holds no responsibility whatsoever for non-payment or late payment of fines. The
employee shall settle any dispute arising due to any violation by an employee as included in Term
8.2 independently. Failure or refusal to comply with traffic rules and regulations may lead to
disciplinary action as per the statutory regulations and shall also be treated as non-compliance with
the Policies of the Company and the employee shall be penalized accordingly.

7.3 Alcohol and medicine: Consumption of alcohol prior to or while driving a vehicle is prohibited by
law and punishable with fine and imprisonment. It is also forbidden to use narcotics prior to or
while driving. While driving, caution should be taken by an employee who is under medication and
in such a situation, an employee should drive the leased car only after consulting a doctor.

7.4 Taxes: Tax implications, if any, will be borne by the employee.

8. Return conditions

A. On Return of Car:

8.1 The car needs to be maintained in accordance with the fair wear and tear maintenance provisions.

8.2 Statutory documents like RTO registration, insurance, PUC certificate, service records, and
operation & maintenance manual are required to be returned. Any other documents provided by
the Car Leasing Company at the time of delivery of the car on the commencement date or written
permissions granted for modifications during the lease tenure shall be returned to the Car Leasing
Company upon return of the car at the end of the lease tenure.

8.3 The car is required to be returned with all requisite forms duly signed.

B. Employee shall ensure that on return of the car to leasing company:

8.4 The car needs to be cleaned and cosmetically acceptable; all rust, corrosion, decals, numbers,
customer identification, glue and adhesives installed by the employee should be properly removed
and/or treated without damage to paint of the goods. All material (i.e. dirt, refuse, asphalt, gravel,
etc.) are required to be removed from the car.

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8.5 The leasing company shall not be obliged to accept the return of the car in event of non-availability
of original registration certificate and insurance policy.

8.6 In order to determine whether each and every item of the car meets return conditions, the leasing
company shall arrange for a suitably qualified authorized OEM dealer or designated valuators to
inspect the car at the employee’s cost.

C Others.

8.7 Employee will return the vehicle only at specified locations listed as mentioned in the agreement.

8.8 Employee will return original keys, remotes and security system and shall ensure that the same
are in a functional condition.

8.9 Employee shall be liable to pay for all costs of transportation and repositioning to specified
location.

8.10 Employee shall be liable to make good any damages caused to the lease car by way of
reimbursement of expenses incurred by the Car Leasing Company in restoring the leased car to its
original state as far as possible after taking into consideration the wear and tear and depreciation
resulting from the same, for any material deficiency as per the inspection report. However, the
employee shall have an option to make good the damages to the car on its own to Car Leasing
Company’s satisfaction and return the car to the Car Leasing Company within a maximum period
of two (2) months from the date of such inspection report.

8.11 Employee shall provide an undertaking, that no regulatory claim(s) / legal case(s) that may have
arisen during the lease tenure are pending in relation to the leased car. Further, if any claim(s)
pertaining to any event(s) that occurred during the lease tenure arises at a later date, the employee
will be liable to settle such claim(s) independently.

8.12 Employee shall be liable to remove personal information or confidential data from the car prior to
surrendering the car at the end of tenure, including resetting navigation system (GPRS), removal
of physical documents such as pan card, driving license, ID cards etc.

D Usage Provisions

8.13 The car usage shall be exclusively covered in the agreement entered with the employee.

9. Taxation on lease transaction

9.1 Employee would be liable for perquisite taxation on usage of lease car. The perquisite value for
official / business and optionally for personal usage would be based on the cubic capacity and will
be calculated as below:

a) If cubic capacity is more than 1.6 liters or more = INR 2,400 per month.
b) If cubic capacity is less than 1.6 liters = INR 1,800 per month.

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9.2 The perquisite value will be taxed in the employees’ hands as per the applicable tax slab rates.

9.3 The lease rental will include all incidence of Goods and Service Tax (GST) and any other taxes and
duties applicable at the time of entering into lease transaction.

9.4 Any changes in GST or perquisite values due to change in law would be applicable with effect
from the effective date of change.

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Exceptions/Revisions.
This policy has been reviewed and approved by Human Resources Legal, and tax teams. Exceptions or
changes to this policy require the approval of the Chief Human Resources Officer and the Business Unit
Leader. To the extent that any law or regulation conflicts with this policy, that law or regulation will apply.

The firm reserves the right to review, edit and modify this policy from time to time.
Revision History

Date Description
May 1, 2019 Policy issued

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