PRIVATE AND CONFIDENTIAL

Date: 25th Apr, 2022

Mr. Vipul Tyagi

F 94/1, Ground Floor,
Sarasvati Lok,
Meerut, Uttar Pradesh - 250002.

Dear Vipul,

1.1 LETTER OF APPOINTMENT: Business Development Manager

I am pleased to welcome you to Smollan India Private Limited and trust that this will be the start of a long and
mutually beneficial association.

1. Appointment

This letter of appointment, upon acceptance by you, together with the applicable laws of the land, will serve as the
contract of employment between the Company and yourself. You will be on probation for six months and this contract
of employment shall come to an end automatically unless your employment is confirmed or period of probation
extended in writing before the expiry of the probation. The company shall have sole discretion to extend your
probation or to confirm your employment based on the review of your performance.

2. Duties

2.1 You are appointed to the position of Business Development Manager in Work Level C1. In addition, you shall work
in such capacity, place and time as the company at its sole discretion may decide.

2.2. Your Headquarter/Field Base will be at Meerut. If the company so deems fit, your services may be transferred to
any associate, subsidiary or group company in India or abroad.

2.3 While in the service of the company, you shall devote the whole of your time to the business of the Company to the
best of your ability and you shall not either directly or indirectly be connected with, concerned in, or employed in
any other business whatsoever.

2.4 You will be medically examined periodically or at any time regarding your fitness to continue to work as directed by
the Company. The examinations will be done by a Medical Officer or any Medical Practitioner of the Company’s
choice and the opinion of such doctor in this regard shall be final and binding on the parties.

Page 1 of 8

Dakshina, 5th Floor, Plot No.2, Sector 11, CBD Belapur, Navi Mumbai – 400 614

+ 91 22 686 31000
Smollan India Private Limited | CIN No.: U74900MH2010FTC211149 contactsipl@smollan.co.in
2.5 You shall keep the Company informed of any changes in respect of your personal data.

2.6 You shall follow all the Health and Safety Environment guidelines and rules laid down by the Company from time
to time. Working safely is a condition of employment and violation of the Safety rules will result in disciplinary
action taken against you.

2.7 In keeping with the established practice, you shall retire from the services of the Company at the end of the month
in which you attain the age of sixty years.

2.8 You have given 1st February, 1992 as your date of birth with proof thereof. Please note that this date of birth will
not be changed for any reason whatsoever.

3. Date of Commencement and Remuneration

3.1 You will commence work on 25th April, 2022.

3.2 Your basic salary will be Rs. 21,000/- (Rupees Twenty One Thousand Only) per month. Please note that this
is a consolidated salary and there will be no separate Cost of living or Dearness Allowance payable. Your monthly
earnings, less applicable deductions, will be credited to your bank account as per the details provided by you.

3.3 In addition to your monthly basic salary, you will be eligible for:

HRA 15750 189000 Monthly

City Compensatory Allowance (CCA) 5250 63000 Monthly

Your gross total emoluments at the start will be Rs. 42,000/- (Rupees Forty Two Thousand Only). Your annual
increments will not be automatic but will be dependent on your performance during the relevant year, as judged
by the Management.

3.4 Your basic salary will be reviewed in April each year, or in accordance with Company policy. The decision to increase
basic salary rests entirely with Management and will be made at its discretion.

Page 2 of 8

Dakshina, 5th Floor, Plot No.2, Sector 11, CBD Belapur, Navi Mumbai – 400 614

+ 91 22 686 31000
Smollan India Private Limited | CIN No.: U74900MH2010FTC211149 contactsipl@smollan.co.in
4. Variable Bonus

Variable bonus may be paid in March of each year. The variable bonus comprise the performance based bonus and
statutory bonus as may be applicable. Payment of bonus is subject to the discretion of the Company and dependent
on your performance during the relevant year as judged by Management. In case any bonus becomes payable to
you in future by virtue of any law, the amount paid under this head shall be deemed to have been paid against such
statutory liability.

5. Rules of Work

5.1 You shall be governed by such rules as are currently in force in the company. Any amendment to such rules will
automatically be applicable to you even though the same may not be individually communicated to you.

5.2 The Company, as a part of its Corporate Governance, has established various policies, including the Safety Policy for
Women at Working Place, in consonance with various State Laws governing the Company's establishments. The
Shops and Establishments Acts of various States regulate the working hours for women employees and in
particulars prohibits their deployment at work place, during restricted hours.

5.3 As per the policy, the women employees are not required to work in the office / establishment beyond the
stipulated time, provided for travelling and business related contingencies, for which the she should obtain a prior
written approval from the line manager in accordance with the safety policy.

6. Leave and Benefits

6.1 You will be entitled to leave as per the leave policy of the company.

6.2 Due to the nature of the Company's business and the environment in which it operates annual leave will need to
be sanctioned by your Line Manager.

6.3 It is mandatory for every employee to obtain pre-sanction for Casual Leave & Annual Leave from his Line Manager
and apply through the Leave Management system. If, for any reason the employee could not file his leave
application through the system, or requires leave on sick/urgency, he should inform his Line Manager within 3 days
of such absence. However, if an employee is found to be absent without due authorization, for a period exceeding
7 days, such employee shall lose his right/lien, on his employment and the Company will have no option but to
proceed accordingly in this matter.

Page 3 of 8

Dakshina, 5th Floor, Plot No.2, Sector 11, CBD Belapur, Navi Mumbai – 400 614

+ 91 22 686 31000
Smollan India Private Limited | CIN No.: U74900MH2010FTC211149 contactsipl@smollan.co.in
7. Company Property

7.1 You will be provided with various items of equipment necessary for the performance of your duties. All such items
remain the property of the Company and you will be held responsible for same.

7.2 In the event that your services with the Company are terminated, all such equipment must be returned to the
Company. Should this not be done, the Company shall have the right to determine the current value of all items of
equipment not returned by you and shall further have the right to offset such value, or any other indebtedness to
the Company against any money that may be due to you from the Company at the date on which your employment
with the Company ceases.

7.3 Should the amount payable by you to the company be more that the dues payable to you by the company, the
company shall have the right to resort to appropriate legal proceedings against you for recovery of money / its
assets. The right of the Company to proceed at law in the recovery of such indebtedness shall not be prejudiced by
anything contained herein.

8. Confidentiality of Information

On acceptance of the terms and conditions of this letter of appointment and commencement of employment with
the Company, you agree, undertake and expressly bind yourself not to disclose at any time, to any Company, firm
or person, any transactions of the Company or its clients or its customers, nor any information concerning the
business or affairs of the Company or its clients or its customers, unless required to do so by the Company or by
Court of Law, whether during the currency of your employment or after its termination.

9. Intellectual Property

All intellectual property, including, but not limited to, patents, trademarks, designs and copyright created or
generated by yourself in the course of your employment (which shall include after hours work performed for the
Company) shall vest in, and be owned by, the Company and insofar as it may be necessary, you shall sign and
execute such deeds of assignment as may be necessary and as called upon by the Company.

Page 4 of 8

Dakshina, 5th Floor, Plot No.2, Sector 11, CBD Belapur, Navi Mumbai – 400 614

+ 91 22 686 31000
Smollan India Private Limited | CIN No.: U74900MH2010FTC211149 contactsipl@smollan.co.in
10. Company Policies and Procedures

10.1 The Company has implemented specific personnel and operational procedures that will be binding on you.
Information about these policies and procedures will be made available and you are expected to fully acquaint
yourself with their provisions. Such policies and procedures may, from time to time, be amended, at the discretion
of the Company.

10.2 It is a specific term of your employment contract that the Company’s Disciplinary Procedure and Code is binding
on you and you acknowledge that you are familiar with and will abide by such Procedure and Code.

11. Notice Period

11.1 During the period of probation, this contract may be terminated by either party by giving to the other, written
notice of not less than One month or salary in lieu of notice. Post confirmation the notice period mentioned here
shall be read as Two Months. Wherever the employee exercises the option of notice pay in lieu of notice, the
Company reserves its right to require such employee to serve out a minimum residence period for handing over the
job responsibilities before getting relieved. Such residence period shall be based on the functional responsibilities
of the employee concerned and solely determined by the company.

11.2 In the event where the employee either fails to serve the notice period and/or fails to serve the residence period
for relieving as stipulated above, the Company reserves its right to refuse issuance of relieving / experience letter
and also initiate appropriate legal action. The Company further reserves its right to terminate the employee without
paying any notice period in case the employee fails to comply with the terms of Notice Period as stated.

11.3 It is the policy of the Company that any leave that may have accrued during the course of employment, may not be
taken during the notice period.

12. Use of the Internet and E-mail

12.1 You hereby acknowledge and agree that in the course of carrying on business the Company makes various
computing and networking resources, Internet access and electronic and other forms of communication available
to you, including but not limited to, e-mail, internet, fixed - line telephone, mobile telephone and telefax for the
sole and exclusive purpose of enabling you to conduct your duties and functions for and on behalf of the Company.
You shall accordingly not utilize the aforesaid computing and networking resources. Internet access and electronic
and other forms of communication made available to you for your own or any other unauthorized purpose, not
associated with the furtherance of the Company’s business interests, without prior written approval from the
Company.

Page 5 of 8

Dakshina, 5th Floor, Plot No.2, Sector 11, CBD Belapur, Navi Mumbai – 400 614

+ 91 22 686 31000
Smollan India Private Limited | CIN No.: U74900MH2010FTC211149 contactsipl@smollan.co.in
12.2 In the event it is established that you have failed to comply with the requirements set out in sub-clause 12.1 above,
the Company will take whatever disciplinary action it deems appropriate.

12.3 You also hereby expressly give the Company permission to intercept, monitor, read, block or act upon any of your
or your use of electronic or other forms of communications (including any communication that is personal in nature)
that shall include, but not limited to, e-mails, Internet, telephonic conversations and any stored files.

12.4 Where you are required to make use of the Company’s computing and networking resources, Internet access and
electronic or other forms of communication, then the Company’s policies governing its computing and networking
resources, Internet access and electronic and other forms of communications shall also apply.

13. Address for Communication

All employees are obliged to provide their temporary and permanent residential address for official
communications and keep the Company intimated of any change(s). Any communication sent by the Company to
the last known/recorded address of the employee in the usual course would be presumed to be a proper service
and delivery of such communication on the employee concerned.

14. Amendments

The Company, at its discretion, may add, alter, replace or annul any of the above, should circumstances so warrant
either as a result of a statute, court order or otherwise.

Page 6 of 8

Dakshina, 5th Floor, Plot No.2, Sector 11, CBD Belapur, Navi Mumbai – 400 614

+ 91 22 686 31000
Smollan India Private Limited | CIN No.: U74900MH2010FTC211149 contactsipl@smollan.co.in
Please indicate your acceptance of and agreement to the terms and conditions contained herein, by signing and returning
the attached copy of this letter.

Yours Faithfully,

_______________________________________
Authorized Signatory

I, ____________________________________________ , hereby accept and agree to the terms and conditions of

employment contained in this letter of appointment.

SIGNATURE: _________________________ DATE:_____________________

Page 7 of 8

Dakshina, 5th Floor, Plot No.2, Sector 11, CBD Belapur, Navi Mumbai – 400 614

+ 91 22 686 31000
Smollan India Private Limited | CIN No.: U74900MH2010FTC211149 contactsipl@smollan.co.in
 Salary Structure

Name: Vipul Tyagi

Position: Business Development Manager
Location: Meerut
Grade C1

Salary Component Amount (P.M.) Amount (P.A.) Pay period

Basic 21000 252000 Monthly
HRA 15750 189000 Monthly
City Compensatory Allowance (CCA) 5250 63000 Monthly
Gross (A) 42000 504000
PF(ER) 2520 30240 Retirals
Gratuity 1010 12121 Retirals
Retirals (B) 3530 42361
Incentive 7000 84000 Quarterly
Variable (C) 7000 84000
CTC (A+B+C) 52530 630361
Medical Insurance Rs.2,00,000 (Covers Self + Spouse+ Two Children + Parents/In laws )
Personal Accident Insurance Rs.6,50,000 (Self Only)
 Salary is paid for the Calendar Month Period.
 Variable bonus / Incentives will be paid on achievement of targets.
 Variable Bonus includes Statutory Bonus as applicable.
 The variable bonus / Incentive schemes will change from time to time based on company’s policy.
 P.F., ESIC, Gratuity & PT will be applicable as per the laws.
 Bonus will be applicable as per the Payment of Bonus Act, 1965.
 The reimbursements as applicable will be communicated to you from time to time.
 Maximum eligibility for parental mediclaim is capped at 50% of the sum insured.
 All parental claims will be reimbursed up to 80% of the entitled claim amount.
 Deduction of Rs.250/- per month will be applicable against Group Health Insurance policy.

For Smollan India Private Limited,

__________________
Authorised Signatory

Page 8 of 8
Dakshina, 5th Floor, Plot No.2, Sector 11, CBD Belapur, Navi Mumbai – 400 614

+ 91 22 686 31000
Smollan India Private Limited | CIN No.: U74900MH2010FTC211149 contactsipl@smollan.co.in