Board of Directors
Board of Directors

Employee Stock Compensation Committee

The Compensation Committee assists the Company's Board of Directors in carrying out its responsibilities with respect to:

  1. Director compensation programs;
  2. Executive compensation programs;
  3. Employee compensation programs
  4. Employee qualified benefit plans and employee stock programs.

Terms of Reference : The Committee was formed inter alia to formulate detailed terms and conditions of the Employees Stock Option Scheme including :

  1. The quantum of options to be granted under Employees Stock Option Scheme per employee and in aggregate;
  2. The conditions under which option vested in employees may lapse in case of termination of employment for misconduct;
  3. The exercise period within which the employee should exercise the option and that the option would lapse on failure to exercise the option within the exercise period;
  4. The specified time period within which the employee shall exercise the vested options in the event of termination or resignation of an employee;
  5. The right of an employee to exercise all the options vested in him at one time or at various points of time within the exercise period;
  6. The procedure for making a fair and reasonable adjustment to the number of options and to the exercise price in case of corporate actions such as rights issues, bonus issues, merger, sale of division and others;
  7. The grant, vest and exercise of option in case of employees who are on long leave
  8. The procedure for cashless exercise of options, if any.
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