ICICI Bank 2014 Annual Report Download - page 23
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The details of the composition of the Committee and attendance at its Meetings are set out in the
followingtable:
Name of Member Number of meetings attended
HomiKhusrokhan, Chairman (Alternate Chairman upto
April 29, 2013 and Chairman w.e.f. April 30, 2013)
6/6
SridarIyengar, Chairman (upto April 29, 2013) 1/1
DileepChoksi,Alternate Chairman(w.e.f. April 30, 2013) 5/5
M.S.Ramachandran 6/6
V. Sridar 6/6
III. Board Governance, Remuneration & Nomination Committee
Terms of Reference
ThefunctionsoftheCommitteeincludeidentificationofpersonsqualifiedtobecomedirectorsandwho
maybe appointed in senior managementandrecommendation of their appointmentsandremoval to
theBoard,evaluationoftheperformanceoftheManagingDirector&CEOandwholetimeDirectorson
pre-determinedparameters,recommendationtotheBoardoftheremuneration(includingperformance
bonusandperquisites)towholetimeDirectors,approvalofthepolicyforandquantumofbonuspayable
tothemembersofthestaff,recommendationtotheBoardofapolicyrelatingtotheremunerationfor
theDirectors,keymanagerialpersonnelandotheremployees,framingofguidelinesfortheEmployees
Stock Option Scheme and recommendation of grant of ICICI Bank stock options to the employees
andwholetimeDirectorsofICICIBankanditssubsidiarycompaniesandformulationofthecriteriafor
determiningqualifications,positiveattributesandindependenceofaDirector.
Composition
At March 31, 2014, the Board Governance, Remuneration & Nomination Committee comprised three
independentDirectorsandwaschairedbyK.V. Kamath,anindependentDirector.TherewerefiveMeetings
oftheCommitteeduringtheyear.ThedetailsofthecompositionoftheCommitteeandattendanceatits
Meetingsaresetoutinthefollowingtable:
Name of Member Number of meetings attended
K.V. Kamath, Chairman (Chairman w.e.f. April 30, 2013
upto April 25, 2014)
5/5
SridarIyengar(Chairman upto April 29, 2013) 1/1
HomiKhusrokhan 3/5
M.S.Ramachandran(w.e.f. April 30, 2013) 4/4
The Board of Directors at its Meeting held on April 25, 2014 re-constituted the Board Governance
Remuneration&NominationCommitteepursuanttowhichHomiKhusrokhanwasappointedasChairman
oftheCommitteeinplaceofK.V. KamatheffectivecloseofbusinesshoursonApril25,2014.
Remuneration policy
The Board Governance, Remuneration & Nomination Committee determines and recommends to
the Board the amount of remuneration, including performance bonus and perquisites, payable to the
wholetimeDirectors.