28 August, 2023

13/A, 4th A Cross Rd, KEB Colony, New Gurappana

Palya, 1st Stage, BTM 1st Stage, Bengaluru, Karnataka,
560029, India

Dear Mohammed Raiyan Ali Qureshi,

Here at Navi, we believe that a company should be measured by the quality of its people. That’s
why we invest significant time and resources in hiring the best.

With that in mind, it gives me great pleasure to say: Welcome Aboard!

Navi is on a mission to make financial services simple, accessible and affordable and in doing so,
we hope to positively impact millions of lives.

In the following pages, you will see the key terms and conditions that govern your employment
and the details of your compensation and benefits.

Please note that this offer is subject to the successful completion of background and credential
checks. We look forward to a mutually rewarding, positively challenging and meaningful
relationship.

We hope that this opportunity gives you the chance to do some of the best work of your life.

Sincerely,

Navi Finserv Limited

E: [email protected] | T: +91 80 4511 3400 | www.navi.com | CIN: U65923KA2012PLC062537
Office Address - 2nd Floor, Vaishnavi Tech Square, Ibbaluru, Bellandur, Bengaluru, Karnataka 560102, India
 Your employment with Navi Finserv Limited (“ ”) shall be on the following terms and
conditions:

● Your date of joining will be on or before (“

”).
● You will be employed in the position of .
● Your initial place of posting will be Bengaluru. However, you may be
posted/transferred/seconded to any other place or offices of the Company or its affiliates
including other group companies, subsidiaries, joint venture companies etc., as the
Company may from time to time deem necessary, either in India or abroad. On such
posting, you will be governed by the terms and conditions of service applicable to the new
assignment, which shall however not be in any manner detrimental to the terms and
conditions applicable to you immediately prior to such transfer.
● You may be transferred to the rolls of a third party as the Company may deem
necessary, provided the Company shall ensure that: (i) any such transfer shall be in
compliance with applicable laws; (ii) your services to the Company shall not be interrupted
by and upon such transfer; (iii) your compensation package shall not be curtailed or
reduced or in any manner be unfavorably affected due to such transfer; (iii) such third
party shall acknowledge your continuity of service for the purpose of computation of
compensation and other applicable allowances and statutory benefits; and (iv) there shall
be no material change in your role and responsibilities. You hereby consent to such
transfer and agree to promptly execute all documents in connection hereof with the
Company and/or the third party and do all such acts, deeds and things as might, in the
opinion of the Company, be necessary to give full effect to the terms of the transfer,
including resigning from the Company.
● Your employment with the Company is on a full-time basis. While you
are in the services of the Company, you are not permitted to directly or indirectly, engage
yourself or devote any time or attention to any full time or part time employment, trade,
business or occupation, with or without remuneration, for any third person or concern
(including self-employment) unless otherwise agreed by the Company.

● Details of your annual gross compensation, along with benefits and other
allowances are detailed in .
● You will be eligible for leave as specified in the Company Leave Policy which is in
force and as may be modified from time to time.

Navi Finserv Limited

E: [email protected] | T: +91 80 4511 3400 | www.navi.com | CIN: U65923KA2012PLC062537
Office Address - 2nd Floor, Vaishnavi Tech Square, Ibbaluru, Bellandur, Bengaluru, Karnataka 560102, India
 ● The Company shall be entitled to conduct background and reference checks at any time,
and your employment shall always be conditional on the result of such checks. In the
event the results of such checks are unsatisfactory on any account, the Company may, in
its sole discretion, terminate your employment without any notice.
● For this purpose, you explicitly consent to independent background checks by the
Company or third-parties appointed by the Company, which will include the collection and
transfer of your data by the Company for purposes related to your employment and agree
to take all reasonable steps the Company may seek to facilitate the same.
● You must at all times keep your manager notified of any information about you with
respect to: (i) any criminal conviction that may arise (excluding traffic violations), including,
without limitation, bribery or fraud; (ii) any adverse claims that may be passed by a court
of law against You; or (iii) any other proceedings that will make You personally liable
before a court or a tribunal.

● The first 90 (Ninety) days from your Joining Date, will be the period during which your
suitability for the position to which you have been appointed will be assessed
(“ ”). The Company reserves the right to extend your Probationary
Period if in its opinion such extension is necessary. If you fail to meet the Company’s
criteria to the satisfaction of your manager, during the Probationary Period, the Company
shall be entitled to terminate this Agreement with a 7 (seven) days’ prior notice, without
making any payment in lieu of the remaining period. The Company’s internal policies will
apply to you during your Probationary Period.
● After satisfactory completion of the Probationary Period, your services may be confirmed
based on the feedback (attitude and aptitude) from your reporting authority and the same
will be communicated to you in writing. Your probation may also be extended or may be
terminated, should it deem fit in the interest of the organization or the employee and the
same shall also be communicated to you in writing. Your performance will be reviewed
periodically during the Probation Period, which might not be communicated to you.

● You agree that the ownership of all existing and future intellectual property rights
(including patents, copyright and related rights) in any invention, discovery or other work,
including without limitation, any new or advanced methods, designs or improvements,
processes/systems (collectively, the “ ”) in relation to the business or
operation of the Company, or which results from any work performed on Company
premises or by use of the Company’s resources, or which is developed during your tenure
at the Company, whether or not patentable or registrable under copyright or similar
statutes in India or any other country, and discovered by you individually or jointly with
any other person(s) during the course of your employment shall be deemed ‘work-for-hire’

Navi Finserv Limited

E: [email protected] | T: +91 80 4511 3400 | www.navi.com | CIN: U65923KA2012PLC062537
Office Address - 2nd Floor, Vaishnavi Tech Square, Ibbaluru, Bellandur, Bengaluru, Karnataka 560102, India
 and is hereby assigned in perpetuity and on a worldwide basis and without any additional
consideration, solely to the Company, who will be entitled to deal with them in any manner
in the Company’s sole discretion and will continue to remain the sole property of the
Company. You shall immediately disclose to the Company any such Developments and
promptly execute all documents and do all things as might, in the opinion of the
Company, be necessary to enable the Company to give effect to the terms hereof. You
hereby agree to waive any and all moral rights with respect to any such Developments,
including without limitation any and all rights of identification of authorship and/or rights
of approval, restriction or limitation on use of or any subsequent modifications thereto.
● You will indemnify the Company against any and all damages, losses and expenses
arising to the Company from your unauthorised use of any intellectual property of the
Company or infringement of a third party's intellectual property during the course of your
employment.

● You should assume that all information or data regarding the Company or third-parties
that you obtain during the course of your employment is confidential in nature unless
otherwise specifically indicated by the management. If you have any questions about
what constitutes confidential information and appropriate disclosures, please contact the
Company’s Legal or HR departments.
● Confidential information refers to: (a) any data or information that you obtain during the
course of your employment at the Company, including, but not limited to, algorithms,
business plans, business strategies, reports, projections, customer data, customer lists,
documents, drawings, engineering information, financial analysis, forecasts, formulas,
hardware configuration information, know-how, ideas, inventions, market information,
marketing plans, processes, products, product plans, research, specifications, software,
source code, trade secrets of the Company and/or its clients, affiliates or of any third party
to whom the Company or its affiliates owe a duty of confidentiality or any other
information which by its very nature may be deemed to be confidential; and (b) any
information that contains, reflects, or is derived from any of the foregoing (“
”).
● You shall at all times, whether during your employment with the Company or in perpetuity
thereafter, keep in strictest confidence and trust and not disclose, divulge, report or use,
for any purpose, the Confidential Information, including that which you may have created
or which you have obtained or which may have come to your knowledge, in the course of
your employment except as expressly authorised by the Company or as required by law.
● You acknowledge that any Confidential Information, whether or not formally marked or
identified as confidential is the exclusive property of the Company and you will fully
indemnify the Company and its employees and agents against any losses, expenses and

Navi Finserv Limited

E: [email protected] | T: +91 80 4511 3400 | www.navi.com | CIN: U65923KA2012PLC062537
Office Address - 2nd Floor, Vaishnavi Tech Square, Ibbaluru, Bellandur, Bengaluru, Karnataka 560102, India
 damages suffered by the Company arising from any unauthorised disclosure and/or use
of any part of Confidential Information by you.
● You will comply with the Data Security; Confidentiality and any other related policies of
the Company as may be adopted / amended from time to time. You shall keep the
Company duly and promptly informed, in writing, if you are bound by any confidentiality,
non-compete or other similar agreements with any of your previous employers / clients.

● You acknowledge that you must not collect, process, publish or disclose or otherwise use
any Personal Data without authorization, except your own personal data or any personal
data to which you may have lawful rights, (“ ” means any information
relating to an identified or identifiable natural person; in particular by reference to an
identification number or to one or more factors specific to his/her physical, physiological,
mental, economic, cultural or social identity), and use the same only in accordance with
applicable laws and regulations and as per the instructions provided by the Company.

● Your employment shall be terminable by either party, without cause, by giving the other
party notice. The Company shall at its discretion either pay or recover
salary in lieu of the notice period or waive the requirement for you to serve notice without
making any payment in lieu of the notice period. The decision of the Company shall be
final and binding on you. For the purpose of this clause, “salary” shall hereinafter be
interpreted as the Total Fixed Cost offered by the Company as mentioned under
. The Company reserves the right to terminate your employment immediately and
without notice, on grounds of breach of any applicable laws, material breach of the terms
of this offer letter, substantial or continued unwillingness or inability to perform duties
assigned, company’s policy, misconduct, fraud or moral turpitude, providing false
information. Further, the Company reserves the right to terminate your employment
without notice for absence of a continuous period of 7 (seven) days without prior approval
of your supervisors (including overstay of leave/ training).
● You shall not claim any leave and shall not be entitled to any leave from the date of
resignation until the end of the notice period.

● You will indemnify the Company in respect of any loss or liability incurred as a
consequence of your negligence, breach of the terms and conditions herein, breach of the
Company rules, regulations, instructions, policies, practices and procedures and of any
applicable law.

Navi Finserv Limited

E: [email protected] | T: +91 80 4511 3400 | www.navi.com | CIN: U65923KA2012PLC062537
Office Address - 2nd Floor, Vaishnavi Tech Square, Ibbaluru, Bellandur, Bengaluru, Karnataka 560102, India
 ● On termination of your employment with the Company, irrespective of the circumstances,
you are bound to return to the Company (and will not keep in your possession, recreate
or deliver to anyone else) any and all devices, records, data, notes, reports, proposals, lists,
correspondence, specifications, drawings, blueprints, sketches, materials, equipment,
other documents or property, or reproductions of any aforementioned items developed
by you pursuant to your employment with the Company or otherwise belonging to the
Company, its successors or assigns, including, without limitation, those records
maintained for and on behalf of the Company.

● You agree at all times during the period of employment and for 1 (one) year thereafter,
you will not directly or indirectly in any capacity: (a) engage or participate in any business
anywhere else in the world, which is in competition with the business of the Company
(including that of its affiliates); (b) recruit, solicit, or induce, or attempt to recruit, solicit, or
induce, any employee or contractor of the Company, to terminate their employment or
engagement with the Company; and/or (c) cause, influence, solicit or induce any actual
or prospective client or customer of the Company to circumvent the Company or
affect/damage in anyway their business relationship with the Company.
● The foregoing restrictions shall not apply to investments made by you into any: (a) mutual
funds; (b) discretionary investment portfolios; and/or (c) listed companies, which are not:
(I) grey-listed by the Company from time to time; and/or (II) specifically excluded from
being invested into by a certain class of employees of the Company (as designated by the
Company from time to time). In the event during the term of your employment the
Company introduces an investment policy for its employees, the terms thereof shall
override the aforementioned exception.

● The Terms and Conditions set out hereunder shall be construed with and be governed by
the laws of India. Any dispute or controversy arising hereunder shall be subject to the
jurisdiction of courts at Bengaluru. Notwithstanding the foregoing, nothing contained
herein shall be deemed to prevent either you or the Company from seeking and obtaining
injunctive and equitable relief from any court of competent jurisdiction without the posting
of any bond or other security.

Navi Finserv Limited

E: [email protected] | T: +91 80 4511 3400 | www.navi.com | CIN: U65923KA2012PLC062537
Office Address - 2nd Floor, Vaishnavi Tech Square, Ibbaluru, Bellandur, Bengaluru, Karnataka 560102, India
 ● Any notice that maybe required to be given to you shall be deemed to be duly and
properly given, if hand delivered to you personally, or sent by registered post to you at
your address or your personal email address, as per the records available with the
Company.
● Any change in communication address should be intimated to your HR BP in writing
within 7 days from the date of such changes. Your address as indicated shall be the
correct address for sending all communications to you unless otherwise intimated in
writing by you.
● The letter of appointment, read with these Terms and Conditions, the Company Code of
Conduct and other Company Policies (including, without limitation, the Leave Policy, IT
Policy, Policy for the Prohibition, Prevention and Redressal of Sexual Harassment at the
Workplace and other applicable policies) shall be the documents governing our
relationship and supersedes all other letters of appointment previously issued and/or all
other agreements, memoranda, documents and discussions.

I, hereby state that I have read, understood and agree to all the Terms
and Conditions mentioned herein and shall comply with the same, as required by me, during the
period of my employment with the Company and thereafter.

Signature Date
: :

Date: 28 August, 2023

Navi Finserv Limited

E: [email protected] | T: +91 80 4511 3400 | www.navi.com | CIN: U65923KA2012PLC062537
Office Address - 2nd Floor, Vaishnavi Tech Square, Ibbaluru, Bellandur, Bengaluru, Karnataka 560102, India
 Mohammed Raiyan Ali Qureshi
Senior Executive
Customer Experience
S3

The breakup of your annual compensation is:

Components ₹ Amount
Basic Salary 2,53,800
House Rent Allowance 1,26,900
Leave Travel Allowance 25,380
Other Allowance 1,36,320
Statutory Bonus 0
Annual Gross Salary 5,42,400
Provident Fund 21,600
Total Fixed Cost to Company 5,64,000

You will be eligible for the Company group medical insurance and accident insurance policies, details of which
shall be provided to you.
You will be entitled to payment of Gratuity after 5 (five) years of continuous service with the Company. Gratuity will
be paid out in accordance with the Payment of Gratuity Act, 1972.

● Your contribution to Provident Fund (“ ”) shall be deducted and deposited with the PF Authorities, along
with the Company’s contribution, as per the statutory requirements.
● Professional Tax and all incidence of income tax will be borne by you as per applicable Income tax rules.
● As per the Bonus Act 1965, the Statutory Bonus mentioned in Annexure A will be applicable if the Basic Salary
is less than or equal to Rs 2,52,000 else it will reflect 0.
● All amounts shall be paid after deducting tax at source, as applicable.
You acknowledge and agree that your emolument package is a matter purely between yourself and the
Company and you are to keep this information and any changes thereto, strictly confidential. Your salary/
emoluments will be periodically reviewed as per the Company’s policies.

Navi Finserv Limited

E: [email protected] | T: +91 80 4511 3400 | www.navi.com | CIN: U65923KA2012PLC062537
Office Address - 2nd Floor, Vaishnavi Tech Square, Ibbaluru, Bellandur, Bengaluru, Karnataka 560102, India