Appointment Letter of Independent Director
4. Other Terms and Conditions
The performance evaluation of every Director, including yourself,will be conducted on an annual basis, based on the parameters and guidelines as framed by the Nomination & Remuneration Committee and approved by the Board.
- You may resign from your position at any time and should you wish to do so,you are requested to serve a reasonable written notice to the Board stating out the reason for your resignation as a director of the Company.
- At the end of Term, and in case you are not re-appointed by the shareholders of the Company, you will not be entitled to anycompensation with regard to your separation.
- Your appointment may terminate or cease in accordance with applicable law, including the Act, the Listing Agreement and the provisions of the articles of association of the Company from time to time as may be in force.
All information acquired during your tenure as director of the Company is confidential to the company and should not be released, either during your tenure or following separation to third parties without prior clearance from the Chairman of the Company unless specifically required underlaw or by the rules of any regulatory body. On reasonable request, you shall surrender any of such documents and other materials made available to you by the Company.As a director, you are also subject to and bound by the prohibition and restrictions against insider trading and disclosure of unpublished price sensitive information, as prescribed under the Act and the regulations issued by the Securities and Exchange Board of India ("SEBI"). You would have to strictly abide by the Code of Conduct for Prevention of Insider Trading of the Company under SEBI (Prohibition of Insider Trading) Regulations, 1992 (as amended or replaced from time to time).
While it is expected that in the performance of your duties you will exercise all diligence and care, please be informed that you will be liable in respect of such acts of omission or commission by the Company which had occurred with your knowledge, attributable through Board processes and with your consent or connivance or where you had not acted diligently, which lead to penal consequences and damages for the Company
- Your appointment is also subject to the maximum permissible directorships that one can hold under applicable law.
- This letter of appointment does not constitute a contract of employment in any manner and should be treated accordingly.
- As a first time, you will be invited to attend an initial induction session and, thereafter, ongoing training and familiarization sessions, including briefings from management and site visits. Please avail yourself of these opportunities as fully as is appropriate to your personal circumstances.
- We are enclosing an Induction Kit capturing the details of our Board members, Senior Management Team, Organisation Chart, Board Committees, Financial performance, Applicable Policies/Codes etc. We trust you will find these useful and informative.
8. Contact Person
Mr.Muthiah Ganapathy, Company Secretary, email id:firstname.lastname@example.org, phone no: (022)43567225 shall remain in regular touch with you to provide all required clarifications/information, as you may require relating to our Company.
Kindly confirm your acceptance of these terms by signing and returning to us the enclosed copy of this letter.