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| Exchange Disseminated Time | Oracle Financial Services Software Ltd has informed BSE that the Nomination and Remuneration Committee of the Board has approved the grant of 750 Restricted Stock Units (RSUs) to an employee of the Company under the OFSS Stock Plan 2014 at an exercise price of INR. 5 per unit, subject to such approvals. If and to the extent required, on the following terms and conditions.
1. Date of Grant: April 1, 2016;
2. The RSU’s will vest over a period of 4 years from the Date of Grant in ratio of 25% per year;
3. The RSUs carry the right to apply for equivalent number of equity shares of the Company of face value of Rs. 5/- each; and
4. The RSUs shall be exercisable within a period of 10 years from the date of grant and shall be governed by the terms and conditions of the OFSS Stock Plan 2014.
5. Employees to bear and pay all the applicable taxes, such as perquisite tax, at the time of vesting / exercise |
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