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| Exchange Received Time 27/11/2017 18:35:36 Exchange Disseminated Time 27/11/2017 18:35:38 Time Taken 00:00:02 | This is to inform you that the Nomination and Remuneration Committee of the Board of Directors its meeting held on November 24, 2017 has approved Grant of 25000 Performance Award Units (PAUs) under the Employees Performance Award Unit Plan 2016 (EPAP 2016), at an exercise price of Rs. 10/- per share to Mr. Sandeep Kishore, Managing Director and Chief Executive Officer of the Company on the following terms:
- The options shall vest over a period of 1 to 5 years from the date of grant;
- The PAUs granted may be exercised by a PAU Grantee at any time within the period determined by the Committee from time to time subject to a maximum period of two and half months from the end of calendar year in which vesting happens for the respective PAUs;
- Each option shall carry the right to be issued one equity share of the Company.
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