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Notes forming part of consolidated onancial statements (Contd.)
Annual Report 2016-17
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215
Scheme VII
1,784,975
Apr 30, 2007
Apr 30, 2007
10 Years
Scheme VIII
42,000
Jul 24, 2007
Jul 24, 2007
3 Years
Scheme IX
1,374,462
Jun 29, 2009
Jun 29, 2009
10 Years
Scheme X
3,062,272
Jun 10, 2010
Oct 29, 2010
3 Years
Scheme XI **
492,000
Jul 26, 2014
Nov 03, 2014
1 Year
Scheme XII ***
67,300
Feb 04, 2016
Apr 08, 2016
2.5 Months
# Adjusted for bonus issue of shares.
*
No contractual life is deoned in the scheme.
** The options under Scheme XI, which is a performance based ESOP scheme will vest after 3 years in proportion of
credit points earned by the employees every quarter based on performance. The maximum options which can be
granted under this scheme are 2,000,000.
*** The options under Scheme XII, ESOP scheme will vest after 1 year. The maximum options granted under this
scheme are 50 per employee.
The vesting period and conditions of the above ESOP schemes is as follows:
All the above ESOP schemes have service condition, which require the employee to complete a specioed period of
service, as a vesting condition. The vesting pattern of various schemes has been provided below:
(i) Scheme I to V, VII, VIII and X:
Service period from the date of grant
% of Options vesting
Scheme I to V & X
Scheme VII
Scheme VIII
12 Months
10%
20%
25%
24 Months
30%
40%
50%
36 Months
60%
60%
75%
48 Months
100%
80%
100%
60 Months
NA
100%
NA
(ii) Scheme VI:
Service period from the date of grant
% of Options vesting
18 Months
30%
Every quarter thereafter
5%
(iii) Scheme IX:
Service period from the date of grant
% of Options vesting
30– 60 Months varying from employee to employee
100%
(iv) Scheme XI:
Service period from the date of grant
% of Options vesting
3 years
Based on credit points earned
(v) Scheme XII:
Service period from the date of grant
% of Options vesting
1 year
100%