CIN: U74900KA2015PTC082263

Registered office: He li os Busi n ess P ark, Wi ng E, 3 r d Fl o or, K ad ub e esa na ha lli,

K a riya mman a Ag r ah ar a Vil la ge, V art hu r Ho bli, B e ng alu r u East Ta luk,
B e ng alu r u - 56 01 0 3

April 2, 2024

Abhishek Kumar Singh

House no. 66, Nawali, Ghazipur,

Uttar Pradesh - 232333

Dear Abhishek Kumar Singh,

Congratulations!!
We, at Fashnear Technologies Private Limited (hereinafter referred to as the
‘Company’) are pleased to make you an offer subject to the following terms:

1. Your designation shall be “Software Development Engineer - I”.

2. Your initial place of work shall be Bangalore, Karnataka.
3. Your date of joining shall not be later than April 8, 2024.
4. You will be required to abide by the Policies and Code of Conduct of the
Company, which may be modified from time to time by the Company.
5. This offer is made to you for the said position with the Company and is
contingent upon the successful completion of a reference check and/or
background verification.
6. The compensation details applicable to you is set forth in Annexure A
(‘Compensation Details’).
7. Employment Agreement: On the day of your joining, you will be required to
sign an Employment Agreement and Proprietary and Inventions Agreements.
This offer letter together with the Employment Agreement and Proprietary and
Inventions Agreement shall govern your employment with the Company.
8. You will be under probation for a period of three (3) months from the effective
date of your employment with the Company as set out in your Employment
Agreement (hereinafter referred to as the ‘Probation Period’), during which time
your performance will be monitored closely. At any time during, or on
completion of the Probation Period, the Company may either (i) extend the
Probation Period for such period of time that the Company, at its discretion,
deems fit; or (ii) terminate the employment with immediate effect.

+91-9606441771
CIN: U74900KA2015PTC082263
Registered office: He li os Busi n ess P ark, Wi ng E, 3 r d Fl o or, K ad ub e esa na ha lli,
K a riya mman a Ag r ah ar a Vil la ge, V art hu r Ho bli, B e ng alu r u East Ta luk,
B e ng alu r u - 56 01 0 3

9. You or the Company will provide prior written notice of at least 30 days before
terminating your employment.
10. By accepting this offer letter, you consent that the Company or any other third
party (which acts on Company’s behalf) may collect, process and handle your
data, including both personal and sensitive personal data for recruitment,
screening, background verification and other legal and administrative purposes.
Your acceptance would also imply that you consent to the Company further
sharing your data with Company’s third party service providers for legitimate
purposes, including as mentioned above.
11. Joining Documents: At the time of joining, you are required to submit the
following documents:
i. Copy of PAN card
ii. Copy of address proof (Passport / Voters ID / DL / UID)
iii. Copies of all educational certificates (10th, 12th, U.G and P.G)
iv. Copies of relieving and experience letters
v. Passport size photographs
The terms of this Offer Letter are confidential in nature and the Company shall view
any breach with utmost seriousness and such breach shall result in unconditional
withdrawal of this Offer Letter.
You are required to sign and return one copy of the Offer Letter within 2 working
days; failing which the Company reserves the right to withdraw and cancel the Offer
Letter.

Welcome to Fashnear Technologies Private Limited Family!

Yours Sincerely,

Pavan H R
Associate Director - HR
Fashnear Technologies Private Limited

+91-9606441771
CIN: U74900KA2015PTC082263
Registered office: He li os Busi n ess P ark, Wi ng E, 3 r d Fl o or, K ad ub e esa na ha lli,
K a riya mman a Ag r ah ar a Vil la ge, V art hu r Ho bli, B e ng alu r u East Ta luk,
B e ng alu r u - 56 01 0 3

Annexure A :
Part A: Compensation Details

COMPENSATION STRUCTURE INR (PER ANNUM) INR (PER MONTH)

Basic Salary 1,000,000 83,333

HRA 400,000 33,333

Special Allowance / FBP 578,400 48,200

Total Gross 1,978,400 164,866

Provident Fund (Employer's

21,600 1,800
Contribution)

Total Fixed Compensation 2,000,000 166,666

Part B-
• Employee Stock Options

ESOP Grant Value : You will be eligible for an ESOP grant of INR 1,400,000 which
will be vested over 4 years.

Vesting schedule of the ESOP grant will be as follows:

Year 1: Cliff vesting of 25% at the end of year 1
Year 2: Monthly vesting of 2.08% at the end of every month
Year 3: Monthly vesting of 2.08% at the end of every month
Year 4: Monthly vesting of 2.08% at the end of every month

Amount of ESOPs Vesting in Year 1: INR 350,000

• Cost To Company

+91-9606441771
CIN: U74900KA2015PTC082263
Registered office: He li os Busi n ess P ark, Wi ng E, 3 r d Fl o or, K ad ub e esa na ha lli,
K a riya mman a Ag r ah ar a Vil la ge, V art hu r Ho bli, B e ng alu r u East Ta luk,
B e ng alu r u - 56 01 0 3

Based on the compensation components mentioned above, your Annual Total Cost
to Company is as the sum of following components:

● Annual Fixed Compensation : INR 2,000,000

● Amount of ESOPs vesting in Year 1 : INR 350,000

Annual Total Cost To

INR 2,350,000
Company (Year 1)

Note:
Any one time payments/bonuses will not be subject to increments during the
Appraisal Cycle.
Any future ESOP grants will be subject to employees’ performance.

All the compensation stated here under shall be payable subject to the applicable
tax laws, including the deduction of tax at source provisions thereof.

I hereby understand and accept this offer letter proposal.

Abhishek Kumar Singh Date :

April 2, 2024

Appendix: Know Your ESOPs

+91-9606441771
CIN: U74900KA2015PTC082263
Registered office: He li os Busi n ess P ark, Wi ng E, 3 r d Fl o or, K ad ub e esa na ha lli,
K a riya mman a Ag r ah ar a Vil la ge, V art hu r Ho bli, B e ng alu r u East Ta luk,
B e ng alu r u - 56 01 0 3

❖ What is a Grant ?
When the ESOP units are allotted to you by the Company, that amounts to a
grant. Grants may not be transferred or encumbered in any manner.

❖ How to calculate the ESOP units that have been granted to you ?
Your offer letter will typically show the total value of the ESOPs that have been
granted to you in INR. You can calculate the total no. of ESOP units granted in
the manner as described below:

No. of ESOP units = (ESOP Grant in INR)/((FMV) * (USD to INR Conversion

rate))

FMV = fair market value of the shares of the Company as per the last financing
round of the Company.

❖ What is Vesting?
Options granted vest over a period of time in accordance with the vesting schedule.
Details of the vesting schedule have been provided below. Only vested options
may be exercised by the employees at a future date

❖ What is a vesting schedule?

Complete vesting of options granted will take place over a period of 4 years from
the grant of options. The vesting schedule will be as follows:
▪ 25% of your total options will vest on completion of one year from the date
of grant; and
▪ The remaining options will vest on a prorata basis over a period of 36
months

❖ What happens to your options when you resign?

All vested options shall remain with the employee which can be exercised and
transferred when approved by the Company within 10 years from the last date of
employment. All unvested options will lapse.

❖ What happens to options in case the employment is terminated for cause?

+91-9606441771
CIN: U74900KA2015PTC082263
Registered office: He li os Busi n ess P ark, Wi ng E, 3 r d Fl o or, K ad ub e esa na ha lli,
K a riya mman a Ag r ah ar a Vil la ge, V art hu r Ho bli, B e ng alu r u East Ta luk,
B e ng alu r u - 56 01 0 3

In this case, all options (both vested and unvested options) shall stand cancelled
as on the date the employee is first notified of the termination of employment.

❖ What is exercise of options?

The exercise of options means the right to convert the vested options into shares
of the company by paying the exercise price.

❖ When can you exercise and sell your shares?

From time to time, the Company will open windows during which you can exercise
your options (by paying the exercise price) and sell the shares issued to you
upon exercise to the buyer identified by the company. The price at which such
shares may be transferred to the buyer will be communicated to you during such
sale window.

❖ What is an exercise and sale price?

The exercise price is a nominal price paid for converting options into shares.

Sale price is the price at which you will transfer your shares to the identified
buyer and receive such consideration from the buyer.

Both exercise and sale price will be communicated to you at the time of such
event.

❖ Is there an ESOP Management portal where I can view my ESOPs and

when will I get access to the same?
There is an online portal which provides all the information related to ESOPs.
Employees get access to this tool once the options are approved for grant. One
can see all details regarding grant, vesting schedule, break up of vested vs
unvested options, and much more on this portal.

Access to this portal will continue even after termination of employment subject
to the terms of Meesho Stock Incentive Plan. Login ID will change from official
email ID to personal email ID.

+91-9606441771
CIN: U74900KA2015PTC082263
Registered office: He li os Busi n ess P ark, Wi ng E, 3 r d Fl o or, K ad ub e esa na ha lli,
K a riya mman a Ag r ah ar a Vil la ge, V art hu r Ho bli, B e ng alu r u East Ta luk,
B e ng alu r u - 56 01 0 3

Please note that employees get access to this tool within 3 months from the date
of joining or effective date of ESOP grant.

❖ What are the tax implications related to ESOPs?

The tax implications shall be as follows:
▪ when employees exercise options - Perquisite tax will need to be paid by
an employee on the difference between the fair market value on the date
of exercise and the exercise price.
▪ when employees sell their shares - Tax will be paid by the employee on
the taxable gain which is the difference between the sale price and the fair
market value on the date of exercise.
LTCG: If 2 years or more have lapsed since exercise
STCG: If less than 2 years have lapsed since exercise

+91-9606441771