On June 28, 2022, the Board of Directors of StarTek, Inc. (the “Company”) appointed Sudip Bannerjee to serve as a director of the Company effective as of July 1, 2022. Mr. Bannerjee has also been appointed to serve as a member of the Nominating and Governance Committee of the Board effective as of July 1, 2022. Mr. Bannerjee fills a vacancy on the Board created on June 28, 2022, when Aparup Sengupta notified the Company of his resignation from the Board effective as of July 1, 2022.

Mr. Sengupta's decision to resign from the Board was a result of his desire to focus his attention on other business matters and was not due to any disagreement with the Company. Sudip Banerjee is an Operating Partner of Capital Square Partners. He is currently on the board of directors of L&T Technologies Ltd, Kesoram Industries Limited and IFB Industries Limited.

He is also a member of the advisory board of TAPMI Business School, Jaipur, India. He was the chief executive officer of Larsen & Toubro Infotech Limited between 2008-2011. Prior to that, he worked with Wipro Limited (“Wipro”) from 1983 to 2008 and was the President of the Enterprise Solutions Division at Wipro and a member of the Corporate Executive Council of Wipro between 2002 and 2008.

He was a member of the Executive Council of National Association of Software and Service Companies of India during 2000 to 2002 and again from 2009 to 2011. He also served as a member on the Board of Governors of Indian Institute of Information Technology, Allahabad, India. Mr. Banerjee holds a graduate degree in Arts (honours course) in economics from University of Delhi, New Delhi, and a diploma in management from the All India Management Association, New Delhi.

In his capacity as a director of the Company, Mr. Bannerjee will be entitled to compensation in accordance with the Company's policy regarding the compensation of directors and its 2008 Equity Incentive Plan. The Company's policy regarding the compensation of directors provides for compensation entirely with equity awards. At the start of each quarter, members of the Board, at their option, may elect to receive (1) stock options to purchase shares of common stock with a fair value equivalent to $90,000 (calculated using the Black-Scholes pricing model), (2) common stock with a grant date fair value of $90,000, (3) deferred stock units with a fair value equivalent to $90,000 or (4) any combination of options, stock and deferred stock units.

Upon the date of grant, the members of the Board are immediately vested in the stock options, stock and deferred stock units.