Compensation Committee

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nd the company constitutes a Compensation Committee for administration and superintendence of the ESOS.] 5.2 The Compensation Committee shall be a Committee of the Board of directors consisting of a majority of independent directors. 5.3 The Compensation Committee shall, inter alia, formulate the detailed terms and conditions of the ESOS including; (a) the quantum of option to be granted ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssues, bonus issues ,merger, sale of division and others. In this regard following shall be taken into consideration by the compensation committee: (i) the number and the price of ESOS shall be adjusted in a manner such that total value of the ESOS remains the same after the corporate action (ii) for this purpose global best practices in this area including the procedures followe....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... no. SEBI/PMD/MBD/ESOP/2/2003/30/06 dated June 30, 2003, for all options granted on or after June 30, 2003. Prior to its substitution, clause 5.1 read as under: "5.1 No ESOS shall be offered unless the company constitutes a Compensation Committee for administration and superintendence of the ESOS." [2] Substituted vide circular no. SEBI/PMD/MBD/ESOP/2/2003/30/06 dated June 30, 2003, for all ....