APPENDIX TO THE EMPLOYMENT OFFER LETTER FOR Mohammed Safvan

Monthly Compensation and Benefits

Salary Breakdown Monthly CTC in AED Annual CTC in AED

Basic Salary 250 3,000
HRA(Accommodation) 200 2,400
Travel Allowance 50 600
Gross Salary 500 6000
Insurance 50 600
Retention Bonus 3,450 41,400
Total Compensation 4000 48000

Notes to the Employment Terms

1. The United Arab Emirates Labour Contract for the candidate will be processed by the Company upon
successful completion of a medical examination by a licensed medical practitioner authorised by the
relevant United Arab Emirates authority and the results of background checks and references obtained
to the satisfaction of the Company.

2. The gross monthly salary for the employee will be AED 500 which will be set out in the Square Yards
Real Estate Employment Contract and the United Arab Emirates Limited Term Labour Contract. In
addition, the employee will be entitled to a Retention Bonus of AED 3450 per month.

3. In addition to the above, the candidate will also be entitled to a variable incentive earned as a
percentage of the revenue generated by the candidate on achieving the minimum required revenue
target. The percentage will be determined in the incentive model which will be shared with the
employee along with the Job Description. The incentive percentage and slabs will be subject to change
from time to time at the sole discretion of the Company.

4. In addition to the above, the candidate will also be entitled to a variable incentive earned on the basis
of the revenues genertated by the candidate. The variable incentive is linked to achieving the minimum
required monthly revenue targets andcan also be negtive in case the targets are not achieved. The
variable incentives can also be negtive in case the targets are not achieved. The basis of calculating the
variable incentives (both positive & negetive) shall be mentioned in the Compensation & Benefits Policy
which shall be made available on the company intranet – Square Beats to the candidate. The
Compensation & Benefits Policy, will be subjected to change from time to time at the sole descretion of
the company.

5. For the purposes of performance management, the Company will include the revenue generated by the
candidate in the month when the sale is closed by the candidate, however, the pay out of the variable
incentive will be made in proportion to the actual commissions received by the company from
its customers against the completed sale transactions. In case the candidate resigns from the Company
or is terminated by the Company before the commission is received against the sale transaction by the
company, then the candidate will not be eligible for the outstanding variable incentive due from the
customers at the time of candidate’s resignation. Further, any negative balance in the variable incentive
ledger of the candidate shall be recovered from the candidate upon the termination of this contract.

6. The Company will process the monthly gross salary of AED 500 as per the United Arab Emirates Labour
Law through the Wage Protection System (‘WPS’) before 10th of the next month. The variable incentive,
if any, earned by the employee and the monthly Retention Bonus will be paid by the Company directly
into the employee’s bank account or by cheque or in cash, where necessary.
 7. In line with the United Arab Emirates Labour Law, the probation period will be 6 months from the date
of joining as per the Labour Contract that will be issued by the United Arab Emirates Ministry of Human
Resources & Emiratisation.

8. Based on the performance of the candidate and the recommendation from the Reporting Manager, the
employment will be confirmed at the end of the probation period.

9. An Employment Contract between Square Yards Real Estate LLC and the candidate must be signed
before the joining date. The Employment Contract will be shared with the candidate after signing this
Employment Offer Letter and employment contract must be signed by the candidate prior to the
Company processing the employment visa and labour card for the candidate.

10. This Employment Contract will cover the job description for this role, candidate’s day to day
responsibilities, the terms of employment, code of conduct, confidentiality and non-solicitation clauses
and adherance to compliance confirmations.

11. The candidate will be hired under a Limited Labour Contract and the notice period for resignation will
be as per the applicable United Arab Emirates Labour Law regulations.

12. The employee shall not work in a business in the United Arab Emirates which competes with business
of the employer for the period of two years from the date of leaving the company if the employee has
breached/terminated the employment contract or if their employment contract had expired as per
Federal Law of United Arab Emirates without prejudice to the employer’s legal or contractual
obligations.

13. In case the candidate wishes to resign before the two years term of the Limited Labour Contract, the
Company shall reserve the right to take suitable action as per the United Arab Emirates Labour Law and
may require the candidate to refund the Company AED 10,000 related to the internal training
expenses incurred by the company for the candidate. In addition, the candidate shall reimburse the
Company, either in full or partially, all expenses related to the candidate’s onboarding including legal,
professional, government fees and travel expenses incurred.

14. If the employee resigns from work without any valid reason or absconds before the completion of the
term of the Limited Term Employment contract, a labour ban for one year can be imposed on the
employee and henceforth employeeshall not be granted another work permit to join another
employment in UAE for a period of one year from the date of the resigning/absconding from work in
accodance wih Article 50 of the Federal Decree-Law No. (33) of 2021.

15. Employee is required to initiate the process of degree attestation, which is imperative for obtaining the
requisite work permit in UAE, within 72 hours of the acceptance of this offer. A valid proof to this effect
has to be submitted to the Company by the Employee , failing which company reserves the right to
withdraw the offer letter.

By clicking the “I Agree” button on the accompanying email, I hereby confirm that I accept all the terms and conditions
of this offer of employment.

Mohammed Safvan
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