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Compensation in units to align AMC key employees' interests with unitholders, including lock in and clawback safeguards. Require a minimum of 20% of gross annual CTC net of income tax and statutory contributions for Key Employees of AMCs to be paid as units of schemes they oversee, allocated proportionately to scheme AUM (excluding ETFs, index funds, overnight funds and existing close ended schemes), paid over 12 months, locked in for three years or scheme tenure, subject to redemption restrictions, limited loan provisions, clawback for misconduct with proceeds credited to the scheme, trustee monitoring, disclosure of aggregate unit compensation, and defined scope of Key Employees with specified exclusions.
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Provisions expressly mentioned in the judgment/order text.
Compensation in units to align AMC key employees' interests with unitholders, including lock in and clawback safeguards.
Require a minimum of 20% of gross annual CTC net of income tax and statutory contributions for Key Employees of AMCs to be paid as units of schemes they oversee, allocated proportionately to scheme AUM (excluding ETFs, index funds, overnight funds and existing close ended schemes), paid over 12 months, locked in for three years or scheme tenure, subject to redemption restrictions, limited loan provisions, clawback for misconduct with proceeds credited to the scheme, trustee monitoring, disclosure of aggregate unit compensation, and defined scope of Key Employees with specified exclusions.
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