From Innovations to Solutions.

Camelot ITLab Private

Limited
97 Varsha, Plot no. 96/2+97,
CTS no. 1132-1133, Anand Park,
<<CurrentDate>> Aundh, Pune, MH
India, 411007

GSTIN: 27AAHCC3863D1ZQ
<<FullName>> CIN: U72900PN2018FTC174526
PAN: AAHCC3863D
<<Address1>>,
<<Address2>>, Phone +91 20 4104 7100
<<Address3>>, office-pune@camelot-itlab.com
www.camelot-itlab.com
<<Address4>>,

Dear <<Firstname>>,

Subject: Offer cum Appointment Letter for Employment “Letter”

Pursuant to your application for employment with us, and the subsequent selection process, it gives us
great pleasure to offer you employment for the position of <<Designation>> with Camelot ITLab Private
Limited (the “Company”) under the terms and conditions set forth in this Letter.

1. Date of Joining
a) Your date of joining the Company will be <<JoiningDate>> (“Joining Date”) or earlier, except if
otherwise extended by the Company and communicated to you in writing.

b) As part of our onboarding process, please submit all the documents mentioned in Annexure A (List of
Documents) at the time of joining.

2. Remuneration
Your annual compensation will be <<TotalInWords>> (INR <<Total>>) (“CTC”) from your Joining Date, which
also includes your Base Pay, Target Utilization Pay, and Annual MBO Bonus which are more particularly
described in Annexure ‘B’ and Annexure ‘C’.

a) In the event of any change in any existing law or introduction of new law, the Company reserves the
right to adjust your existing salary components to ensure that the payments are made in compliance
with such applicable laws.

b) Your monthly salary will be subject to applicable statutory deductions and withholding tax.

c) As explained to you earlier, your remuneration package is strictly confidential and should not be
discussed with any colleague, manager, senior nor divulged to anyone in any manner (or for any
reason) whatsoever.
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3. Place of Work:
a) Your base location shall be Pune and your work location shall be 7th Floor, 97 Varsha, Anand Park,
Aundh, Pune 411007. However, you may be required to \ from a remote location for a period, as
determined by the Company. During the period of remote work, the Company may request your
physical attendance at occasional meetings or to work from the office for a few days, as per the
business needs and requirements of the Company.

b) You may also be expected to travel to any other location and at times work outside of your official
working hours.

c) In the interest of a particular project, the Company may expect you to work from any of its or its
customer’s offices. Although the Company will endeavor to ensure that such transfers do not cause
any disruption to you or your family, the continuation of any specific facility or perquisite may or may
not be available in the new location. In all such cases of transfer, you will be governed by the
Company's transfer policy.

4. Hours of Work
a) You are expected to work for at least nine (9) hours a day, and up to forty-five (45) hours in a week
including lunch and tea breaks, from Monday through Friday.

b) With the intention of promoting a healthy work-life balance, we have a ‘Flexible Working hours policy’
(referred to as Flex Work), which gives each employee the comfort of deciding their log-in and log-off
time, and as an additional benefit, depending on case-to-case basis, the Company shall give
compensatory off or compensation, if you are requested to work on any declared holiday. Please refer
to the Company’s Working Hours and Leave Policy for more details.

c) Depending on project/ work contingencies, at any given time you may be required to work outside of
your standard working hours, including on weekends. Your annual compensation is structured to
address all such contingencies, and therefore we do not have a policy for overtime payment, or
payment of any hardship allowances.

5. Probation
a) You will be on probation for a period of six (6) months from your actual date of joining. At the
discretion of the Company, the probation period may be extended, if it is found that the services
provided by you are interrupted or not satisfactory.

b) On successful completion of the probation period, if in the opinion of the Company, you are found
suitable for the appointed post, your appointment will be confirmed and communicated to you in
writing by the Company.

6. No Dual Employment
During the course of your employment with the Company, you shall devote your full time and
attention to fulfilling your responsibility towards the Company. For this, you are refrained from taking
up any other employment, consultancy, or any other job (with or without remuneration), without the
prior written consent of the Company.
From Innovations to Solutions.

7. Annual Leave
You will be entitled to 21 days of paid leave which are governed by the Working Hours and Leave
Policy of the Company, as applicable from time to time.

8. Background Verification Report

Upon your joining, the Company or Company’s client may directly or through a third party, carry out a
detailed background verification to validate the information and credentials submitted by you. The
Company reserves the right to terminate your employment without notice, at any point during the
course of employment, if the Background Verification Report is found incongruent with the
information and credentials provided by you. Additionally, in such an eventuality, the Company shall
require you to refund the salary /remuneration paid including employee benefits availed amongst any
other benefits, till such date.

9. Accountability
a) You agree to use all tools including but not limited to software applications and other copyrighted
material provided by the Company, for official purposes only. Internet and email access are provided
to you as business communication tools for appropriate internal and external business uses.
Generation, transmission, or storage of potentially offensive information is not allowed. You also agree
to always act in the best interest of the Company.

b) During the period of your employment, you shall be governed by all the different Company policies
that are in force currently and that may be implemented from time to time (collectively referred to as
“Policies”) and they shall form a part of the terms of your employment. Subject to compliance with the
applicable laws, the Company’s decisions on all the matters contained in the policies will be final and
binding on you. Any violation of such policies could lead to a disciplinary action against you, which may
lead up to termination of your employment. It is clarified that the onus will be on you to familiarize
yourself with all the Policies and ignorance of any of the Policies by you will not be accepted as a valid
defence for the breach or non-compliance with any requirements thereunder.

c) In addition to compliance with the Company’s Code of Conduct, you are expected to adhere to the
highest level of ethical conduct in dealing with customers, dealers, vendors, suppliers, subcontractors,
employees, staff, or the like by whatever name called. We have a zero-tolerance attitude towards any
verbal abuse, sexual harassment, gender discrimination, racism towards anyone engaged with the
Company or otherwise.

10. Non- Solicitation and Non-Competition

a) You agree that you will be exposed to crucial Confidential Information of the Company that will
provide you with a unique competitive advantage. It is a fact that your engagement with an
establishment carrying out similar activities as the Company will inevitably result in the use/disclosure
of Confidential Information prejudicial to the interests of the Company. Therefore, in consideration of
the remuneration promised to you during your employment, you agree that during the term of this
employment and for a period of at least six (6) months after the termination of the employment, you
shall not (directly or indirectly), either by yourself or through any firm, company, or person, without
the Company’s prior written consent:
From Innovations to Solutions.

i. solicit or entice or endeavor to solicit or entice away from the Company, any of its existing or
prospective consultant(s) or existing or prospective employee(s);

ii. solicit, entice, or endeavor to solicit or entice away from the Company any customer or trade
connection of the Company whether or not such customer or trade connection would commit a
breach of contract by reason of terminating such relationship.

iii. take up any job or assignment, full time or otherwise, with any current client of the Company
without the express written consent of the Company.

b) You agree that the restrictions contained in this clause are reasonable and necessary for the protection
of the confidential information and business of the Company and shall survive the termination of this
employment. In the event of breach or threatened breach of the covenant set forth herein, the
Company will suffer irreparable harm and therefore, the Company will be entitled to an injunction
restraining you from committing such breach and/or claim for damages. Nothing contained herein
shall be construed as prohibiting the Company from pursuing any other remedies available to it for
such breach or threatened breach.

11. Consent Regarding Personal Data

a) This clause relates to the Personal Data that you may be requested to provide in connection with your
employment. Personal Data includes any information related to a natural person that is, in
combination of other information or otherwise, is capable of identifying such person notably including
financial information such as Bank account or credit card or debit card or other payment instrument
details, physical, physiological and mental health condition, sexual orientation, medical records,
history, group/individual photographs biometric information, any information or detail relating to
previous employment details, educational qualifications and criminal record.

b) You hereby understand and consent to Company, without any reservations, to (i) collect any of your
Personal Data or other data from your last employer or through any internal or external agencies
appointed for this purpose, (ii) use or process such data in connection with your employment with the
Company or any matters arising from such employment, (iii) share such data with any outside agencies
or third parties including Company’s client for verification and validation of this information,
processing in relation to employment or matters arising from such employment, or in compliance with
the Company’s contractual or statutory obligations and (iv) share or display your group/individual
photographs on the Company website or any social media account of the Company, even after your
separation from the Company.

c) You understand that you may withdraw the consent by informing in writing to Company’s designated
representative for this purpose. You also consent and accept that if such withdrawal of consent affects
the purpose for which your Personal Data was sought, Company reserves the right to take steps as it
deems appropriate. You understand that this consent is obtained by the Company to ensure
compliance of The Information Technology (Reasonable Security Practices and Procedures and
Sensitive Personal Data or Information) Rules, 2011 and any successor laws regarding the subject.
From Innovations to Solutions.

12. Changes in Personal Details

Any change in your residential address, telephone numbers, marital status, and academic
qualifications should be notified in writing to the Company. All communication will be addressed to
you on the last address notified by you and it will be presumed that you have received such
communication addressed to you.

13. Representations and Warranties

You represent and warrant to the Company that:

a) You have been provided with a copy of this Letter for review prior to signing and accepting it.

b) You have reviewed this Letter and understand the terms, purposes, and effects of this Letter.

c) You have accepted this Letter only after having had the opportunity to seek clarifications, and that you
have not been subjected to duress or undue influence of any kind to execute this Letter.

d) You have executed this Letter of your own free will and without relying upon any statements made by
the Company or any of its representatives, agents, or employees.

e) You have all the requisite power and authority, and do not require the consent of any third party to
accept the terms and conditions under this Letter and grant the rights provided herein.

f) The execution, delivery, and performance of this Letter by you does not and will not conflict with,
breach, violate or cause a default under any contract, agreement, instrument, order, judgment, or
decree to which you are party or by which you are bound.

g) Any notice period that you are required to give or to serve with a previous employer has expired as of
the Joining Date.

h) You represent that you are legally permitted to be employed in India.

14. Retirement Age

The age of retirement from the Company shall be attainment of sixty (60) years. For this purpose, the
date of birth considered will be as per the certificate of proof of age submitted by you on the Joining
Date to the Company. In case the last day of your employment falls on a non-working day, your last
day of employment shall be the immediately preceding working day. The Company may extend your
retirement age at its sole discretion after mutually discussing it with you.

15. Termination/Resignation
a) Resignation by Employee: In case of resignation during the Probation Period, you will be required to
serve a prior written notice of at least fourteen (14) calendar days. In case of resignation after the
Probation Period, you will be required to serve a prior written notice of at least ninety (90) calendar
days.
In case of resignation, the Company reserves the right to:
From Innovations to Solutions.

i. relieve you from your services prior to completion of the notice period, without any additional
compensation;
ii. decide whether the Notice Period shall run concurrently with the period of any leave which may
be granted to you;
iii. direct you not to perform any of your duties and to remain away from the Company premises
and/or not to contact clients or other employees of the Company for all or part of the Notice
Period;
iv. recover any shortfall in the Notice Period by claiming payment of an amount equivalent to the
gross salary for the remaining Notice Period.

Resignation should be submitted before the closing hours on the working day. Any resignation
submitted after the working hours shall be considered to have been received by the Company on the
next working day.

Please note that the Company does not accept any retrospective or back dated resignation, and in
such case, the notice period shall start on the date of acceptance of the resignation.

b) Termination by Company: During the Probation Period the Company has reserved the right to
terminate your service for convenience by giving prior written notice of at least fourteen (14) calendar
days or payment of gross salary in lieu thereof. After completion of the Probation Period, the Company
may terminate your services for convenience by giving a minimum of ninety (90) calendar days or
payment of gross salary in lieu thereof. Such termination does not amount to ‘Retrenchment’ under
any law and does not entitle you to claim any severance pay.

c) Termination by the Company without Cause: Notwithstanding anything contained anywhere else, your
employment with the Company may be terminated without notice or without any compensation if in
the opinion of the Company, you, at any time:

i. commits any serious or persistent breach of any of the terms and conditions of this Letter or
other documents incorporated by reference in this document.
ii. do or cause to be done any act, deed, matter, or thing adverse to the Company’s interests.
iii. are guilty of any misconduct or neglect in the discharge of your duties or exercise of your
powers hereunder or otherwise vested in you from time to time.
iv. fail to or neglect in observing and complying fully with all resolutions, regulations, instructions,
and directions from time to time made or given to you by the Company.
v. become of unsound mind.
vi. are convicted of any criminal offense.
vii. abscond from the services of the Company for a consecutive period of ten (10) or more days.

The Company is not obliged to pay you any variable remuneration if the Company has terminated
your employment in accordance with this clause and you irrevocably agree to forfeit any such
amounts.

d) Any incentive-based compensation, performance bonus, variable payment, or any other voluntary
benefit extended by the Company pursuant to this Letter or any other agreement or arrangement will
From Innovations to Solutions.

be subject deductions and claw back as the Company may decide (at its discretion) in any event where
you are found to be guilty of misconduct, or breach of any terms of your employment or the policies of
the Company.
16. Effect of Termination
Upon termination of your employment with the Company for any reason:

a) You shall hand over charge to such person(s) as informed to you;

b) You shall unconditionally surrender all of the Company’s and its customer’s property including but not
limited to any Confidential Information, hardware, software, documents, books, or any other articles
and /or copies thereof belonging to the Company which may be in your use, occupation, control or
possession and must not retain any copies, extracts or reproductions of all or any part of that property
or Confidential Information for any reason whatsoever;

c) You should not make any statements (whether oral or written) or do anything which might damage the
reputation of the Company or interfere with Company’s relationship with its customers.

d) Without prejudice to Company’s other rights and remedies, the Company shall be entitled to deduct
from your emoluments, the amount of any claims which the Company may have against you.

e) The Service and Experience Certificate will be issued only if you have served the entire Notice Period
and/or complied with the Company’s exit formalities.

17. Indemnification
You shall, at all times, indemnify and keep indemnified the Company against all sums whether by way
of claims, demands, damages, costs, charges or expenses paid or incurred by the Company in or in
connection with any action, claim proceedings or demand instituted or made against the Company
caused or occasioned by your breach, failure, default or neglect.

18. Governing Laws and Dispute Resolution

This Letter shall be governed under the laws of India and subject to the exclusive jurisdiction of courts
in Pune, Maharashtra.

19. Invention Assignment and Confidentiality Agreement

a) For the purpose of this Letter, “Confidential Information” shall mean and include includes but is not
limited to, any and all technical and non-technical information including any intellectual property,
patent, copyright, trade secret, proprietary information, technique, sketches, drawings, models,
inventions, innovations, know-how, processes, apparatus, equipment, algorithms, software programs,
software source documents, and formulae related to the current, future and proposed services and
products of the Company or its clients, details of the Company and its clients suppliers and customers,
and includes, without limitation, the Company or its clients innovations, property and information
concerning research, experimental work, development, design details and specifications, engineering,
financial information, procurement requirements, purchasing, manufacturing, business forecasts, sales
and merchandising and marketing plans and information which according to the Company or its clients
are necessarily confidential and form valuable property of the Company or its clients. If any
From Innovations to Solutions.

information is disclosed orally, it shall at the time of disclosure be identified as confidential or shall be
summarized and designated in writing by the Company and delivered within 30 (thirty) days of
disclosure to you to qualify it as Confidential Information.

However, Confidential Information does not include:

i. is publicly known or available in public domain without breach of any of the terms and conditions
of this Letter;
ii. received from third party;
iii. is permitted for disclosure in writing by the Company;
iv. was already in you possession prior to disclosure by the Company; and/or
v. required to be disclosed pursuant to any order, decree, judgement or notice of court of justice or
a government authority provided that a prompt notice of such order, decree, notice or judgment
or required is communicated by you to the Company before disclosing such Confidential
Information.

b) Assignment of Intellectual Property: You understand and acknowledge that no license is granted to
you in and to the Confidential Information nor is any intellectual property right implied to be granted
by this Letter. You understand and acknowledge that the Company shall be the exclusive owner of all
rights pertaining to the any intellectual property created or developed by you during the course of
your employment with the Company. You agree to assign and does hereby assign to the Company all
your rights, titles, and interests in and to all such intellectual property and all related patents, patent
applications, copyrights, and copyright applications. You understand and acknowledge that all
intellectual property shall be the property of the Company and, to the greatest extent permitted by
law, shall be ‘works made for hire.’ Further, you hereby permanently and perpetually waive all
paternity, integrity, special, moral, or similar rights, if any, that vest or may vest in you as of the date of
this Letter in any intellectual property developed by you commensurate with and course of your
employment with the Company.

c) Confidentiality and Non-Disclosure: You acknowledge that the Confidential Information is the
exclusive property of the Company, and you shall make use, make copies, modify, reverse engineer,
decompile, create other works from or disassemble anything in the Company’s Confidential
Information unless permitted in writing by the Company and only for the purpose of carrying out
obligations as commensurate with you position under this Letter and for no other purpose. During
your term of employment with the Company and thereafter, you agrees not to disclose Confidential
Information to any third parties and restrict disclosure of Confidential Information only to Company’s
directors, concerned officers, employees, attorneys, subcontractors or professional advisors who need
to have access to the Confidential Information and each of whom shall be informed by you of the
confidential nature of Confidential Information and agree to observe the same terms and conditions
set forth herein as if specifically named a party hereto.

d) The obligations under this clause shall survive perpetually irrespective of termination of your services
for any reason whatsoever.
From Innovations to Solutions.
From Innovations to Solutions.

20. Conditional Offer

This Letter is conditional upon:

a) You executing this Letter and/or any other agreement as may be requested by the Company at the
time of joining;

b) You clearing the all the medical examinations, if any required, commensurate with the terms and
conditions of this Letter; and/or

c) You clearing the background verification, if any conducted by the Company commensurate with the
terms and conditions of this Letter.

On failure to fulfill any of the conditions mentioned in this clause or otherwise required by any other
term or condition of this Letter, the Company shall have the right to withdraw this the offer of
employment under this Letter at any time and terminate your service in accordance with the terms of
this Letter.

21. Revocation of Offer

The Company may revoke this Letter of employment any time before execution of this Letter. Similarly,
after accepting this Letter, if you do not intend to join the Company, you shall have a right to inform
your intentions any-time before your Joining Date.

22. Confidentiality
The contents of this Letter are strictly confidential to the Company and the Company treats the
contents of this Letter as its confidential information. Irrespective of whether or not you accept the
offer of employment under this Letter, you shall at all times maintain absolute confidentiality of the
content of this Letter as well as any information which was disclosed to you pursuant to your
discussions with the Company. Any disclosure of the contents of this Letter to any third-party will be
construed as a serious breach and the Company may initiate appropriate legal action against you.

23. Non-Disparagement:
a) You shall not act in any manner that might damage the business or reputation of the Company. You
must also refrain from encouraging, counselling, or assisting any attorneys or his clients in the
presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints by
any third party against the Company.

b) You shall refrain from any defamation of the Company and any tortuous interference with the
contracts, relationships, and prospective economic advantage of the Company. This prohibition
extends to statements (written or verbal), made to anyone or through any medium, including but not
limited to the media (including on social media websites such as Facebook, Twitter, LinkedIn etc.),
current or potential investors, industry analysts, competitors, strategic partners, vendors, suppliers,
licensors, employees, clients and third parties. The terms of this clause shall continue to operate and
apply after the cessation of his employment (whether due to termination, resignation, separation, or
superannuation) without limitation in time.
From Innovations to Solutions.

24. Other Terms and Conditions

a) Severability: The Company and you mutually agree that the provisions of this Letter are severable,
and if any one provision is found to be invalid or unenforceable in whole or in part, the remainder of
the agreement will remain valid and enforceable. The Company and you further agree that the court
may modify any provision to make it valid and enforceable.

b) Successors and Assigns: The Company will have the right to transfer and assign this agreement and all
covenants and agreements herein will inure to the benefit of and be enforceable by such successors
and assigns. This agreement is personal to you, and you will not be entitled to transfer or assign it in
whole or in part.

c) Miscellaneous: Headings are for ease of reference only and do not affect the meaning of the
agreement set out in this Letter. Unless expressly indicated otherwise, references to monetary
amounts are references to an amount expressed in the currency of India.

This Letter contains the entire understanding between you and the Company concerning the subject
matter hereof and is in addition to any and all prior and contemporaneous negotiations,
correspondence, understandings, and agreements, whether oral or written, respecting that subject
matter.

Please return a signed copy of this Letter as a token of your acceptance of the terms and conditions
mentioned above within three (3) working days.

All of us are excited about working with you and look forward to a mutually rewarding relationship.

Yours faithfully,

For Camelot ITLab Private Limited

Hrishikesh Rajadhyaksha
Managing Director
From Innovations to Solutions.

ACCEPTANCE OF OFFER

I, <<FullName>>, have read and understood all the terms and conditions contained in this Letter. It
accurately reflects my understanding of the terms and conditions of my employment with the Company.
I understand and agree that any changes in the terms of employment described in this Letter must be set
forth in a written document signed by a duly authorized officer of the Company.

Name: __________________

Signature: __________________

Place: ___________________

Date: ___________________
From Innovations to Solutions.

ANNEXURE A
List of Documents

1. Latest/updated Resume

2. Identity Proof (Any One)

a. Passport (Mandatory)
b. Driving License (in case Passport is not available)

3. Current and Permanent Address Proof (Any One)

a. AADHAR card (Mandatory)

4. PAN Card (Mandatory)

5. Date of Birth Proof (Any One)

a. Passport
b. Birth Certificate

6. Educational Information (As applicable)

a. SSC mark sheet & certificate
b. HSC mark sheet & certificate
c. School leaving and Domicile certificate
d. Graduation (if applicable): Semester (if applicable): Semester wise mark sheets or a consolidated
mark sheet and Certificate (Passing Certificate / Convocation Certificate / Provisional Passing
Certificate)
e. Post-graduation (if applicable): Semester wise mark sheets or a consolidated mark sheet and
Certificate (Passing Certificate / Convocation Certificate / Provisional Passing Certificate)

7. Professional Information (As applicable)

a. Previous employment Appointment letter
b. Previous employment Relieving Letter/Experience Certificate / Service Certificate from all previous
employers (if applicable)
c. Resignation Acceptance Letter / Email / Relieving Letter / Experience Certificate from current
employer (if not currently available, it is mandatory to submit the same on the date of Joining)
d. Last three (3) months salary slip/salary certificate
From Innovations to Solutions.

ANNEXURE B
Details of Annual Cost to the Company

Earnings Monthly (INR) Yearly (INR)

Base Salary Components
Basic Salary <<BasicMonthly>> <<BasicYearly>>
House Rental Allowance <<HRAMonthly>> <<HRAYearly>>
Leave Travel Allowance <<LTAMonthly>> <<LTAYearly>>
Child Education Allowance <<ChildEduMonthly>> <<ChildEduYearly>>
Special Allowance <<SpecialAlwMonthly>> <<SpecialAlwYearly>>
Base Salary – A <<BaseSalaryMonthly>> <<BaseSalaryYearly>>
Reimbursements
Telephone Reimbursement <<TelReimbMonthly>> <<TelReimbYearly>>
Uniform Reimbursement <<UniReimbMonthly>> <<UniReimbYearly>>
Sodexo Meal Vouchers <<SodexoMonthly>> <<SodexoYearly>>
Total Reimbursements – B <<TotReimbMonthly>> <<TotReimbYearly>>
Retirals – Employer’s Contributions
Employer PF** <<EmployerPFmonthly>> <<EmployerPFyearly>>
Employer NPS** <<EmployerNPSmonthly>> <<EmployerNPSyearly>>
Total Retirals – C <<TotRetiralsMonthly>> <<TotRetiralsYearly>>
Total Base Salary (A+B+C) <<TotBaseMonthly>> <<TotBaseYearly>>
Deductions – Employee Contributions
Employee PF** <<EmployeePFmonthly>> <<EmployeePFyearly>>
Employer PF** <<EmployerPFmonthly>> <<EmployerPFyearly>>
Employer NPS** <<EmployerNPSmonthly>> <<EmployerNPSyearly>>
Profession Tax <<ProfesnTaxMonthly>> <<ProfesnTaxYearly>>
Sodexo Meal Voucher – Recovery <<SodexRecvryMonthly>> <<SodexRecvryYearly>>
Total Deductions – D <<TotDedMonthly>> <<TotDedYearly>>
Net Base Salary (A+B+C-D) <<NetBaseMonthly>> <<NetBaseYearly>>
Utilization Pay (details in Annexure C)
MBO Bonus (details in Annexure C)
* Tax deduction will be as per the Income tax Act
** If employee does not opt for PF and NPS then the amount will be added in Special Allowance and
would add up in the net payout net of tax effect

* The monthly salary will be subject to applicable statutory deductions and withholding of taxes as per the
investment declarations and proof submitted by the individual.
From Innovations to Solutions.

ANNEXURE C
Details of Utilization Pay and MBO Bonus

Utilization Pay:

You are eligible to earn a Utilization Pay in addition to your Total Base Salary (“Utilization Pay”). The
Utilization Pay will be paid quarterly and is subject to the following terms:

a) Calculation of Utilization Pay:

You will earn Utilization Pay at the rate of <<UtilizFact>> percent (<<UtilizFactor>>%) of your monthly
Total Base Salary (“Utilization Factor”) for each day of work done by you. This will be calculated pro-
rata based on the total utilizable hours worked.

Example calculation:

If utilization days in the month = 1, you will receive additional utilization pay of Rs <<UtilizPay1>>
If utilization days in the month = 10, you will receive additional utilization pay of Rs <<UtilizPay10>>
If utilization days in the month = 20, you will receive additional utilization pay of Rs <<UtilizPay20>>

The Company uses a target utilization of 175 days in a calendar year. On this basis, your Target Annual
Utilization Pay = <<UtilizPay175inWords>> (Rs <<UtilizPay175>>) in addition to your Total Base Salary

b) Double Utilization Pay:

If you work more than 175 days in a calendar year, you will earn an additional Utilization Pay at the rate
of 2x of your Utilization Factor for the excess work. For example, if you work for 190 days, you will earn
2x Utilization Pay for the excess 15 days of work.

c) Payout:

The Utilization Pay will be paid out along with the salary of the next month following completion of the
respective quarter every calendar year.

Annual MBO Bonus:

You will also be eligible for performance based annual bonus of <<AnnualMBObonusInWords>> (Rs
<<AnnualMBObonus>>)

The Annual MBO Bonus will be calculated based on your achievement of the objectives set by the
Company. Payout of the Annual MBO Bonus will happen annually.

The Company reserves the right to make changes to the Annual MBO Bonus eligibility, amount, payout
mechanism etc. at its discretion from time to time.
From Innovations to Solutions.