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/Confidential/SI/2023/XYZ 23rd January 2023

Dear XYZ,

We thank you for your continued support and contribution towards the success of .
Based on your current position and commensurate with your 2022 performance, your
compensation has been revised effective 1st January 2023.

Our compensation strategy supports the way we hire, develop, and reward our employees.
Our strategy revolves around paying competitive total compensation based on market
benchmarking and differentiation in salary reflecting individual performance.

In year 2022, you received an Annual Increment of 00% post completion of 1 year with
the company which was based your overall performance.

In addition to this, as part of January increment cycle, we reviewed your market

positioning and as a result of this you will receive an increment of 00% and your revised
Total CTC will be ₹.0000000/- as per the attached salary annexure.

We look forward to your continued contributions with the same vigor and dedication and
wish you all the very best for a mutually beneficial and rewarding career with .

Please be advised that matters relating to salary are highly confidential in nature and
should not be divulged to other employees.

All the other terms and conditions of your appointment remain same.

For……………………