Eligibility for share based employee benefits: compensation committee decides; institutional nominee directors must disclose and file nomination contracts. Participation in share based employee benefit schemes is determined by the compensation committee. For institution nominated directors the nomination contract must state whether such grants may be accepted, prohibit renunciation in favor of the nominating institution, and specify conditions for accepting fees or incentives; the nominating institution must file the contract with the company, which must file it with listed stock exchanges, and the director must furnish a copy at the first board meeting attended after nomination.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Eligibility for share based employee benefits: compensation committee decides; institutional nominee directors must disclose and file nomination contracts.
Participation in share based employee benefit schemes is determined by the compensation committee. For institution nominated directors the nomination contract must state whether such grants may be accepted, prohibit renunciation in favor of the nominating institution, and specify conditions for accepting fees or incentives; the nominating institution must file the contract with the company, which must file it with listed stock exchanges, and the director must furnish a copy at the first board meeting attended after nomination.
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