Annual Report 2010-2011 - Gammon India

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(e) Details of Remuneration paid to Directors during the year ended 31 st March, 2011 :
REMUNERATION POLICY :
All Executive Directors receive salary, allowances, perquisites and commission while Non-Executive Directors receive
sitting fees for attending Board and Committee meetings. Payment of remuneration to the Managing Director and the
Executive Directors is governed by an Agreement entered into between the Company and the Managerial personnel,
the terms and conditions of which have been duly approved by the Board and the Shareholders of the Company.
The Remuneration (including perquisites and benefits) paid to the Executive Directors during the year ended
31 st March 2011 is as follows :
Name of the Director Salary (`) Perquisites (`) Commission (`) ## Total
Mr. Abhijit Rajan 42,840,000 3,563 Nil 42,843,563
Mr. Himanshu Parikh 2,492,167 3,563 Nil 2,495,730
Mr. Rajul Bhansali 4,280,000 121,614 Nil 4,401,614
Mr. Rohit Modi 35,944,485 817,443 Nil 36,761,928
Mr. D. C. Bagde 8,482,858 108,564 Nil 8,591,422
Total 94,039,510 1,054,747 Nil 95,094,257
## Payable for the year 2010-11.
SERVICE CONTRACT/SEVERANCE FEES & NOTICE PERIOD :
The terms of employment stipulate a notice period of three months, for termination of appointment of Chairman &
Managing Director and Executive Directors, on either side.
The Chairman & Managing Director and Executive Directors shall be entitled for compensation for loss of office to the
extent permissible under the Companies Act, 1956, if, during the currency of the Agreement their tenure of office is
determined for reasons other than those specified in sub-section (3) of Section 318 or any other applicable provisions
of the Companies Act, 1956. There is no other provision for payment of severance fees.
NON-EXECUTIVE DIRECTORS :
The Non-Executive Directors of the Company do not draw any remuneration from the Company other than sitting
fees for attending Board and Committee meetings.
Details of Sitting Fees paid to Non-Executive Directors for attending Board and Committee Meetings during the year
2010-11 are given below :
Name Board Meeting (`) Committee Meeting (`) ** Total (`)
Mr. C. C. Dayal 100,000 140,000 240,000
Mr. Atul Dayal — — —
Mr. Jagdish Sheth 100,000 40,000 140,000
Ms. Urvashi Saxena 100,000 80,000 180,000
Mr. Atul Kumar Shukla 100,000 — 100,000
Mr. Naval Chaudhary 20,000 40,000 60,000
Dr. Naushad Forbes — — —
Note: (**) includes Audit, Selection, Equity Warrants, and ESOP Compensation Committee Meeting.
3. BOARD COMMITTEES :
In compliance with the Listing Agreement and the applicable laws, the Board constituted the following committees :
(1) Audit Committee (2) Shareholders / Investors’ Grievance Committee (3) ESOP Compensation Committee (4) Selection
Committee (5) Equity Warrants Committee.
The Board determines the constitution of the committees, the terms of reference for committee members including their
roles and responsibilities.
A NNUAL R EPORT I 2010/11