20 November 2013
Make changes in below mentioned resolution accordingly:
RESOLUTION FOR INCREASE IN DIRECTOR REMUNERATION;
The Chairman invited the attention of the members of the Board to the fact that the terms and conditions of the appointment and remuneration of Mr. …………., Managing Director was approved by the members of the Company in the ……General Meeting held on September 20, 20. He further apprised that the performance of the Company has improved substantially under his guidance. So it is desirable that the fixed component of remuneration payable to Mr. …… be increased from Rs. 1 lac to Rs. 5 lac per month with effect from February 1, 20.
The matter was discussed and the following resolutions were passed unanimously
“RESOLVED THAT the Board of Directors of the Company hereby approve & recommend the alteration in the remuneration structure payable to Shri ….l, Managing Director of the Company for the remaining tenure of his present term with effect from 1st February, 20 with such terms and conditions as given in the draft agreement as placed before this committee and initialed by the chairman for the purpose of identification.”
“RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorised to do all such acts, deeds, matters and things as may be considered necessary, desirable or expedient for the purpose of giving effect to these resolutions.”
CAclubindia
