PHOTON BENEFITS SUMMARY

JANUARY 2024

PRIVATE & CONFIDENTIAL

CONTENTS

PHOTON BENEFIT SUMMARY ........................................................................................................................... 3

1. MEDICAL INSURANCE................................................................................................................................ 3
2. BCBS - DENTAL INSURANCE ..................................................................................................................... 6
3. VISION INSURANCE – EYE MED PLAN ....................................................................................................... 7
4. DEPENDENT INSURANCE AND PREMIUM DETAILS ................................................................................... 8
5. BASIC LIFE INSURANCE & ACCIDENTAL DEATH & DISMEMBERMENT (AD&D) ......................................... 8
6. VOLUNTARY/ SUPPLEMENTAL LIFE INSURANCE AND AD&D – EMPLOYEE PAID...................................... 9
7. 401K RETIREMENT PLAN ........................................................................................................................... 9
8. COMMUTER BENEFITS ............................................................................................................................ 10
9. LEAVE POLICY .......................................................................................................................................... 10
10. PAY PERIODS ........................................................................................................................................... 12

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 PHOTON BENEFITS SUMMARY

Included below are the details pertaining to the Insurance and other benefits that PHOTON provides to
all its employees.

1. Medical Insurance
2. Dental Insurance
3. Vision Insurance
4. Dependent Insurance and premium details
5. Life Insurance and Accidental death and dismemberment Insurance
6. Voluntary life insurance
7. 401(K) Retirement Plan
8. Commuter Benefits
9. Leave Policy
10. Pay Periods

1. MEDICAL INSURANCE

Photon’s provides employees and their dependents access to medical, dental, and vision care benefits.
Photon pays 100% of the premium for employee and 50% of the premium for any dependents.

Coverage begins from the date of joining and will be active till the end of the month after the last
working day. The option of enrollment is open at the time of joining Photon or at the beginning of the
annual insurance cycle (August 1), at the time of any life event (e.g., birth, marriage, loss of coverage,
etc.), or for dependents traveling to the USA from other countries. Eligible employees may participate in
the health insurance plan and are subject to all terms and conditions of the agreement between Photon
and the insurance carrier.

BCBS TX is the Service Provider for the below

a. Medical & Dental coverage
b. Vision coverage
c. Life insurance and AD&D

Included below is a summary of the Medical, Dental & Vision policies and the premium for dependents'
insurance enrollment:

Photon currently offers 2 medical plans, and you can opt for either:
1.1 BCBS TX PPO $750 Ded
1.2 BCBS TX HDHP HSA $3000 (High deductible plan)

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 1.1 BCBS TX PPO Network - Medical
BCBS TX PPO PLAN IN NETWORK CARE
$750 - Individual
Deductible
$2250 - Family
Coinsurance 20% After Deductible
Annual Out-Of-Pocket $5000 - Individual
Maximum $10000 - Family
Office Visit $30 Copay Deductible Waived
Special Office Visit $30 Copay Deductible Waived
In-Hospital 20% After Deductible
Urgent Care $30 Copay Deductible Waived
Walk-In Clinic $30 Copay Deductible Waived
Preventive Care 0% Deductible Waived
20% After $150 Copay;
Emergency Care Deductible Waived; Copay
Waived If Admitted
X-Rays, Complex Imaging 20% After Deductible
BCBS TX PPO Pharmacy Benefits
BCBS TX PPO PLAN IN NETWORK CARE
Retail: $5 Copay
Preferred Generics
Mail Order: $12.50 Copay
Retail: $20 Copay
Non-Preferred Generics
Mail Order: $50 Copay
Retail: $30 Copay
Preferred Brands
Mail Order: $75 Copay
Retail: $50 Copay
Non-Preferred Brands
Mail Order: $125 Copay
Specialty Medicines 30% (CY. Ded. Waived)
CY- Calendar Year
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OUT-OF- NETWORK CARE
$1500 - Individual
$4500 - Family
40% After Deductible
$10000 - Individual
$20000 - Family
40% After Deductible
40% After Deductible
40% After Deductible
40% After Deductible
40% After Deductible
40% After Deductible
Same as in-Network Care
40% After Deductible
OUT-OF-NETWORK CARE
(MAIL ORDER: NOT APPLICABLE)
Retail: 40% of Submitted Cost;
After Rx Copay
Retail: 40% of Submitted Cost;
After Rx Copay
Retail: 40% of Submitted Cost;
After Rx Copay
Retail: 40% of Submitted Cost;
After Rx Copay
40% of Submitted Cost; After
30% Co-Insurance
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 1.2 BCBS TX HDHP HSA (High Deductible Plan)

HDHP HSA PLAN IN NETWORK CARE OUT-OF- NETWORK CARE

$3000 - Individual
Deductible $6000 - Family
Coinsurance 0% After Deductible
Annual Out-Of-Pocket $3,425 –Individual
Maximum $6,850 –Family
Office Visit 0% After Deductible
Special Office Visit 0% After Deductible
In-Hospital 0% After Deductible
Urgent Care 0% After Deductible
Walk-In Clinic 0% After Deductible
Preventive Care 0% Deductible Waived
Emergency Care 0% After Deductible
X-Rays, Complex Imaging 0% After Deductible
$3000 - Individual
$6000 - Family
30% After Deductible
$7,000 –Individual
$14,000 –Family
30% After Deductible
30% After Deductible
30% After Deductible
30% After Deductible
30% After Deductible
30% After Deductible
Same as in-NetworkCare
30% After Deductible

8/1/23: Calendar Year Deductible changes from $2,800 Individual/$5,600 Family to $3,000 / $6,000

BCBS TX HSA Pharmacy Benefits

BCBS TX PPO PLAN IN NETWORK CARE
Retail: $5 Copay after CY deductible
Preferred Generics Mail Order: $12.50 Copay
Retail: $15 Copay after CY deductible
Non-Preferred Generics
Mail Order: $37.50 Copay
Retail: $40 Copay after CY deductible
Preferred Brands
Mail Order: $100 Copay
Retail: $60 Copay after CY deductible
Non-Preferred Brands
Mail Order: $150 Copay
Specialty Medicines 30% (after CY. Ded. Waived)
CY- Calendar Year
OUT-OF-NETWORK CARE
(MAIL ORDER: NOT APPLICABLE)
Retail: 30% of Submitted Cost;
After Rx Copay & deductible
Retail: 30% of Submitted Cost;
After Rx Copay & deductible
Retail: 30% of Submitted Cost;
After Rx Copay & deductible
Retail: 30% of Submitted Cost;
After Rx Copay & deductible
30% of Submitted Cost; After 30%
Co-Insurance & deductible

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 HSA is linked to the High Deductible plan.

A Health Saving Account (HSA) is a special type of account designed to help you save tax and pay for
certain qualified healthcare expenses.

HSA Process:

Employees enrolled in the HSA plan can open an HSA account with a participating bank and provide
information on the amount to be contributed towards the HSA account. The specified amount will be
deducted from every paycheck by the Company on a pre-tax basis and deposited directly to the
employee’s HSA account.

The HSA account provider will issue a debit card to employees, which can be used to pay for approved
medical expenditures. Please ensure to save your receipts for each year. The HSA account can be used for
trackingthe HSA deductible.

The IRS HSA limits for 2024 are $4,150 for individuals and $8,300 for participants with dependent
coverage.

2. BCBS - DENTAL INSURANCE

Your Dental Plan at a Glance PPO In-Network PPO - Out-Of-Network

$50 Individual $50 Individual
Annual Deductible
$150 Family $150 Family
$1000 Per Covered
Annual Benefit Maximum $1000 Per CoveredIndividual
Individual
Preventive Services 100% DeductibleWaived 100% DeductibleWaived
Basic Services 50% After Deductible 50% After Deductible
Major Services 50% After Deductible 50% After Deductible
Orthodontic Services* Not Covered Not Covered
Orthodontic Lifetime Maximum* N/A N/A

The prices charged by the provider vary if you are in-network or out-of-network, so the total out-of-
pocket will vary.

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3. VISION INSURANCE – EYE MED PLAN

OUT OF NETWORK
VISION CARE SERVICES IN NETWORK
(REIMBURSEMENT)
Exam Copay $20 Upto $40
Materials Copay $20 N/A
BENEFIT FREQUENCY – EXAMS EVERY 12
MONTHS / LENSES & FRAMES EVERY 24
MONTHS
LENSES
Single Vision $25 Copay Upto $30
Bifocal $25 Copay Upto $50
Trifocal $25 Copay Upto $70
Lenticular $25 Copay Upto $70
Progressive - Standard $90 Copay Upto $50
CONTACT LENSES
$0 Copay, $150
Elective Upto $105
Allowance*
$0 Copay, Covered In-
Medically Necessary Upto $210
Full
$0 Copay, $150
Frames Upto $105
Allowance*

*Discount offered on amounts above the allowance

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 4. DEPENDENT INSURANCE AND PREMIUM DETAILS

The table below has the dependents' premium breakdown for the medical, dental, and Vision care
benefits. The cost of the premium for employees and dependents is mentioned below. The below
premium costs are for the plan year August 2023 to July 2024.

BCBS TX BCBS TX BCBSTX BCBSTX

COVERAGE TYPE MEDICAL MEDICAL DENTAL
HDHP -HSA PPO VISION
PPO
Employee Only (Paid by Photon) Free Free Free Free
Employee + Spouse/Domestic Partner $280.35 $251.33 $13.34 $1.83
Employee + Children only $210.48 $188.70 $10.41 $2.04
Employee + Family $455.61 $408.44 $23.75 $3.95

*The rates mentioned above are for a month. Premium contributions will be deducted from each
paycheck on a pre-tax basis unless otherwise requested by you in writing.

5. BASIC LIFE INSURANCE & ACCIDENTAL DEATH & DISMEMBERMENT (AD&D)

Photon offers Life Insurance and AD&D at no additional cost. The plan details are as follows:

LIFE & AD&D LINCOLN FINANCIAL LIFE

Life Insurance & AD&D Benefit $100,000 each

*Benefit reduces by 35% of the original amount at age 65 and an additional 15% at age 70;
coverage terminates at retirement.

Additional Information: (Limitations may apply to these services. Please see your plan document.)

 Benefits are doubled in the event of an accidental death.

 Accelerated Living/ (Terminal Illness) Benefit (75% of your benefit)

 Beneficiary Resource Services - Access to grief counseling, financial and legal support

 Online Will Preparation/Funeral Planning - Call 1 800 769 9187, or visit BeneficiaryResource.com

 Travel Resource Services via Assist America - Access to emergency medical assistance when you’re
on a trip 100+ miles from your home.

 Annual Health Check-ups under preventive care for both PPO and HSA(HDHP) options in medical
coverage.

 Other covered services include Acupuncture and Chiropractic care under both PPO and HSA plans.

 Travel assistance service available 24/7 at (800)872-1414. For employees and/or family members
traveling more than 100 miles from home. Download Mobile App: Assist America. Register using
Reference Number 01-AA-TRS-12201.

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6. VOLUNTARY/ SUPPLEMENTAL LIFE INSURANCE AND AD&D – EMPLOYEE PAID

You may purchase coverage in increments of $10,000 to a maximum benefit of $500,000 or 5X annual
earnings, whichever is less.

You must submit evidence of insurability for you and for your dependents that you wish to enroll in the
plan and Lincoln Financial must approve any amounts. Coverage reduces to 65% of original amount at age
65, and to 50% at age 70.

Optional accidental death and dismemberment insurance benefit: You may purchase Optional AD&D
benefits in addition to Optional Life Insurance

Optional life coverage for your family

You may also choose additional life coverage for your spouse and/or your child(ren):
You may purchase coverage for your spouse in increments of $5,000 up to $250,000
You may purchase coverage for your child(ren) in increments of $5,000 up to $10,000

Dependent coverage may not exceed 50% of the employee’s benefit amount. To cover your dependents,
you must be covered for voluntary term life. Spouse rates are based on the employee’s age.

7. 401(k) RETIREMENT PLAN

 Photon offers a 401(k) Retirement Plan to its employees.

 Employees must bear 100% of the contribution. There are no matching employer
contributionsas of now.
 An employee will be able to register in the 401(k) portal after meeting the 60-day
employmenteligibility requirement.
 The entry date into the plan is the first day of the month coinciding with or next following the
date requirements are met. The employee can register on the 401(k) portal any time after
theirentry date.
 Example: An employee is hired on August 16, 2023. The employee must meet the 60-day
eligibility requirement to register in the 401(k) portal. This employee will meet eligibility
requirements as of October 14th. Employees must then wait for the next entry date into
theplan. That would be November 1.
 The money in your 401(k) account is invested (you choose investment options) and your
accountgrows according to your investment options with tax-free interest earnings.
 The yearly contribution limit is $23,000 for those under 50 and $30,500 for those 50 and older.
 The employee can enroll in 401(k) Plan online or by Phone.

Enrollment:

 To Enroll Online log into www.TA-Retirement.com

 To Enroll by Phone: +1 (800)-401-8726

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8. COMMUTER BENEFITS

By enrolling in a commuter benefit plan, employees can pay for qualified workplace mass transit and
parking expenses with tax-free contributions, meaning that employees will not pay federal income taxes,
social security (FICA) taxes, or state income taxes (may vary by state) on these expenses. When you enroll
in the plan, you will indicate how much you want to contribute to your Mass Transit and/or Parking
Account.

Qualified workplace commuting expenses must be for mass transit and/or parking expenses incurred
between a residence and a place of employment. Qualified mass transit expenses include buses, trains,
subways, ferries, and vanpools. Qualified parking expenses include parking expenses incurred near your
workplace or a location from which you commute to work (e.g. park-and-ride).

When enrolling in a commuter benefit plan, employees need to make separate elections for their monthly
qualified expenses for mass transit and/or parking. The maximum tax-free amount you can contribute to
each account is limited by the IRS and is subject to change each year. For current tax-free maximums,
please refer to your plan documentation or visit www.BenefitResource.com

9. LEAVE POLICY

9.1 Paid Time Off (PTO)

 15 days of PTO is offered to employees every year on a pro-rata basis.

 1.25 PTO will be credited to the employee’s leave account at the beginning of each month.
 1.25 PTO will be credited if an employee joins before the 15 th of a given month.
 No PTO will be credited for that month if an employee joins after the 15 th of a given month.
 No carryover of accrued, unused PTO to the following year will be permitted.
 PTO will be forfeited and will not be paid out at the time of exit, unless applicable state law
mandatespayment for PTO.

9.2 Holidays

Photon offers the below-mentioned holidays for the year 2024:

 New Year’s Day
 Memorial Day
 Independence Day
 Labor Day
 Thanksgiving Day
 Christmas Day

9.3 Compensatory Leave (COFF)

 Compensatory leave can be sanctioned at the discretion of your reporting manager, when either
an employee or a team has gone beyond the call of duty and has given a considerable amount of
personal time (minimum 8 hours on a non-working day) to meet company/project deadlines.
This is applicable only when the Organization makes a decision to ask an employee to work on a
non-working day due to business urgencies.
 A combination of a total of 15 days of accrued, unused PTOs plus accrued, unused comp off as of
December 31st will be eligible for encashment.

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  Compensatory leave shall be logged and approved before availing it.
 No carry-over of accrued, unused Compensatory leave to the following year will be permitted.

9.4 Family and Medical Leave (FML)

 Up to 12 weeks of unpaid family and medical leave as per Family and Medical leave
 The employee must have been on the rolls of Photon Infotech Inc. for 12 months to be able to
avail Family and Medical leave.
 The employee must have worked at least 1250 hours in the preceding 12 months before availing
theFamily and medical leave.
 Employees must be working at a location where the company employs 50 or more employees
within75 miles.

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10. PAY PERIODS

Payroll will be run on a bi-weekly cycle, meaning once every two weeks, in accordance with the
Company’s regular payroll policies and subject to all withholdings and deductions as required or
permitted by law, currently paid on alternate Fridays. Please refer to the table below with the current
payroll schedule that details the pay periods and the pay dates.

S.no Pay period Start Date Pay period End date Pay date

1 17 December 2023 30 December 2023 05 January 2024

2 31 December 2023 13 January 2024 19 January 2024
3 14 January 2024 27 January 2024 02 February 2024
4 28 January 2024 10 February 2024 16 February 2024
5 11 February 2024 24 February 2024 01 March 2024
6 25 February 2024 09 March 2024 15 March 2024
7 10 March 2024 23 March 2024 29 March 2024

8 24 March 2024 06 April 2024 12 April 2024

9 07 April 2024 20 April 2024 26 April 2024
10 21 April 2024 04 May 2024 10 May 2024
11 05 May 2024 18 May 2024 24 May 2024
12 19 May 2024 01 June 2024 07 June 2024
13 02 June 2024 15 June 2024 21 June 2024
14 16 June 2024 29 June 2024 05 July 2024

15 30 June 2024 13 July 2024 19 July 2024

16 14 July 2024 27 July 2024 02 August 2024
17 28 July 2024 10 August 2024 16 August 2024
18 11 August 2024 24 August 2024 30 August 2024
19 25 August 2024 07 September 2024 13 September 2024
20 08 September 2024 21 September 2024 27 September 2024

21 22 September 2024 05 October 2024 11 October 2024

22 06 October 2024 19 October 2024 25 October 2024
23 20 October 2024 02 November 2024 08 November 2024
24 03 November 2024 16 November 2024 22 November 2024
25 17 November 2024 30 November 2024 06 December 2024
26 01 December 2024 14 December 2024 20 December 2024

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