Company: WIT
Filing Date: 2025-05-22
Form Type: 20-F
Source: 0000950170-25-076303
Chunk: 107

Company: WIPRO LTD
Filing Date: 2025-05-22
Form: 20-F
Item: Item 6
Chunk 107
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 of all executive directors. Each of our executive directors has signed an agreement containing the terms and conditions of employment, including a monthly salary, performance bonus and benefits including vacation, medical reimbursement and pension fund contributions. These agreements have varying terms, but either we or the executive director may generally terminate the agreement upon six months’ notice to the other party.
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The terms of our employment arrangements with Mr. Rishad A. Premji, Mr. Srinivas Pallia and Ms. Aparna C. Iyer provide for up to a 180-day notice period, and country-specific leave allowances in addition to statutory holidays, and an annual compensation review. Additionally, these officers are required to relocate as we may determine, and to comply with confidentiality provisions. Service contracts with our executive directors and officers provide for our standard retirement benefits that consist of a pension and gratuity which are offered to all of our employees, but no other benefits upon termination of employment except as mentioned below.
Pursuant to the terms of the employment arrangement with Mr. Pallia, if his employment is terminated by the Company, the Company is required to pay Mr. Pallia severance pay equivalent of 12 months’ base salary.
We also indemnify our directors and officers for claims brought under any rule of law to the fullest extent permitted by applicable law.
Among other things, we agree to indemnify our directors and officers for certain expenses, judgments, fines and settlement amounts incurred by any such person in any action or proceeding, including any action by or in the right of the Company, arising out of such person’s services as our director or officer, including claims which are covered by the director’s and officer’s liability insurance policy taken by the Company.
Board Committee Information
Audit, Risk and Compliance Committee
The Audit, Risk and Compliance Committee of our Board reviews, acts on and reports to our Board of Directors with respect to various auditing and accounting matters. The roles and responsibilities include overseeing:
•Auditing and accounting matters, including recommending the appointment of our independent auditors to the shareholders; 
•Integrity of the Company’s financial statements and discussions with the independent auditors regarding the scope of the annual audits and fees to be paid to the independent auditors; 
•Performance of the Company’s internal audit function, independent auditors and accounting practices; 
•Compliance with legal and statutory requirements; 
•Review of related party transactions and functioning of whistle blower mechanism; 
•Implementation of the applicable provisions of the Sarbanes-Oxley Act, including