Nomination & Remuneration Policy

Purpose:

OIT’s Nomination &Remuneration Policy is prepared in accordance with the requirements of the Companies Act, 2013 (“Act”), SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR”) and industry best practices. The Policy aims to align OIT’s business objectives with individual objectives and targets of Directors, Key Management Personnel (KMPs) and Employees serving the business.
Scope:
This Policy is applicable to the Directors, KMPs, and Employees of OIT and SPVs.

Policy Statement:

• OIT shall determine individuals who are qualified to hold the position of Director and who may represent them in key management roles as per the criteria laid down. Their appointment and removal, and the means for performance evaluation shall be carried out by the Board or by an independent external agency.
• OIT shall determine and set remuneration scales for employees’ basis their qualification, performance, skills, experience, and expertise.
• OIT shall ensure Board Diversity to meet OIT’s objective of good governance.
• The remuneration structure to the Executive Directors and KMPs shall include the following components:
• Basic Pay
• Stock Options
• Commission (Applicable in case of Executive Directors)
• Retirement Benefits
• Severance Benefits
• Annual Performance Bonus
• Allowances
• OIT shall ensure a balance between fixed, and incentive pay in accordance with short-and long-term performance objectives set up in accordance with the company’s objectives and goals.
• OIT shall review the objectives and goals set for the Directors and KMP’s of the business entity and its SPVs. Annual variable incentives shall be awarded based on achievement of these objectives and goals.

Dissemination and Review of the Policy

The Nomination and Remuneration Policy shall be made available on the OIT’s website. It is subject to review as may be deemed necessary as per any regulatory amendments.