Schedules forming part of the Financial ... - Thomas Cook India
Schedules forming part of the Financial ... - Thomas Cook India
Schedules forming part of the Financial ... - Thomas Cook India
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22<br />
<strong>Thomas</strong> <strong>Cook</strong> (<strong>India</strong>) Limited<br />
Details <strong>of</strong> fixed component and performance linked incentives paid for <strong>the</strong> financial year ended 31st December, 2011:<br />
Name <strong>of</strong> Director Salary<br />
Fixed (`) Performance Linked Incentives (`)<br />
Mr. Madhavan Menon 19,044,969 –<br />
Mr. Vinayak K. Purohit 16,376,616 –<br />
Mr. Rakshit Desai 28,762,863 –<br />
Total 64,184,448 –<br />
Details <strong>of</strong> Service Contracts, Notice Period, etc. <strong>of</strong> all <strong>the</strong> Directors for <strong>the</strong> financial year ended 31st December, 2011<br />
Sr.<br />
No.<br />
Name <strong>of</strong> Director Contract Period (Tenure) Service<br />
Contract<br />
Notice<br />
Period<br />
Severance fees, if any<br />
1 Mr. Madhavan Menon 1st May, 2009 to 30th April, 2012 Yes 12 months* As decided by <strong>the</strong><br />
management<br />
2 Mr. Vinayak K.<br />
Purohit<br />
14th May, 2007 to 13th May, 2010 Yes 3 months As decided by <strong>the</strong><br />
management<br />
14th May, 2010 to 13th May, 2013 Yes 3 months As decided by <strong>the</strong><br />
management<br />
3 Mr. Rakshit Desai 25th November, 2008 to 24th November, 2010 Yes 3 months As decided by <strong>the</strong><br />
management<br />
25th November, 2010 to 24th November, 2011 Yes 3 months As decided by <strong>the</strong><br />
management<br />
25th November, 2011 to 24th November,2012 Yes 6 months As decided by <strong>the</strong><br />
management<br />
4 Non-Executive<br />
Directors<br />
None. The Non-Executive Directors liable to<br />
retire by rotation, get re-appointed as per <strong>the</strong><br />
provisions <strong>of</strong> Articles <strong>of</strong> Association <strong>of</strong> <strong>the</strong><br />
Company and <strong>the</strong> Companies Act, 1956<br />
*Amended vide Supplemental Agreement dated 11th February, 2011<br />
No None None<br />
Stock option details, if any, and whe<strong>the</strong>r <strong>the</strong> same has been issued at a discount as well as <strong>the</strong> period over which accrued and over<br />
which exercisable:<br />
Note: None <strong>of</strong> <strong>the</strong> Non-Executive Directors were issued / granted employee stock options under <strong>the</strong> <strong>Thomas</strong> <strong>Cook</strong> Employee Stock<br />
Option Plan 2007 (ESOP Scheme 2007) or <strong>the</strong> <strong>Thomas</strong> <strong>Cook</strong> Save As You Earn Scheme 2010 (SAYE Scheme 2010) as on 31st December,<br />
2011.<br />
Name <strong>of</strong> <strong>the</strong> Director<br />
<strong>Thomas</strong> <strong>Cook</strong> Employee Stock Option Plan 2007 (ESOP Scheme 2007)<br />
Grant in 2007 Grant in 2008 Grant in 2009 Grant in 2010 Grant in 2011<br />
Options<br />
accepted<br />
Discount<br />
%<br />
Options<br />
accepted<br />
Discount<br />
%<br />
Options<br />
accepted<br />
Discount<br />
%<br />
Options<br />
accepted<br />
Discount<br />
%<br />
Options<br />
accepted<br />
Discount<br />
%<br />
SAYE Scheme 2010<br />
Options<br />
accepted<br />
*<br />
Mr. Madhavan Menon 205000 5% 205000 5% - - - - - - 16500 10%<br />
Mr. Vinayak K. Purohit 162500 5% 162500 5% - - - - - - 16500 10%<br />
Mr. Rakshit Desai - - - - - - - - - - 16500 10%<br />
Discount<br />
%<br />
Period <strong>of</strong> accrual: In case <strong>of</strong> ESOP Scheme 2007, 1/3rd <strong>of</strong> <strong>the</strong> options granted, vest every year, over three (3) years; in case <strong>of</strong> SAYE<br />
Scheme, <strong>the</strong> vesting would occur at <strong>the</strong> end <strong>of</strong> thirty-six (36) monthly contributions<br />
Exercise Period: In case <strong>of</strong> ESOP Scheme 2007, all <strong>the</strong> vested options are exercisable over a period <strong>of</strong> ten (10) years from <strong>the</strong> respective<br />
grant dates; in case <strong>of</strong> SAYE Scheme 2010, <strong>the</strong> exercise period is one (1) month from vesting.<br />
* The figures <strong>of</strong> options mentioned in this column have changed pursuant to <strong>the</strong> change in <strong>the</strong> interest rate as per <strong>the</strong> terms <strong>of</strong> <strong>the</strong><br />
SAYE Scheme 2010.