Document:

exv4w8

 

Exhibit 4.8

FORM OF AGREEMENT FOR APPOINTMENT/RE-APPOINTMENT OF EXECUTIVE DIRECTORS

This Agreement made this ________day of ____________ between WIPRO LIMITED, a public limited
company incorporated under the Companies Act,1913 and deemed to be registered under the Companies
Act, 1956 and having its registered office at Doddakannelli, Sarjapur Road, Bangalore hereinafter
referred to as the “Company” (which expression shall unless it be repugnant to the context, be
deemed to include its successors and assigns) of the ONE PART and Mr. ___________, residing at
________________________ hereinafter referred to as (Designation) of the OTHER PART;

WHEREAS

	1.  	At the Annual General Meeting held on ______, the members of the Company had approved
the appointment/re-appointment of Mr. ______as (Designation) of the Company for a
period of ______years with effect from ______(date) as per the terms and conditions as well
as the remuneration and perquisites to be determined by the Board of Directors of the Company.
	 
	2.  	In terms of the Corporate Governance guidelines and pursuant to the approval of the
Nomination and Corporate Governance Committee and Compensation & Benefits Committee the Board
of Directors of the Company at their meeting held on ______, had resolved to appoint/
re-appoint Mr. ______(name and designation of the Executive Director) for a further
period of ______with effect from ______on the terms and conditions as well as the
remuneration and perquisites as contained in an agreement to be executed between the Company
and the ______(designation) subject to the approval of the members in a General Meeting.
	 
	3.  	The parties are now desirous of recording the said terms and conditions as well as the terms and
conditions as well as the terms of remuneration and perquisites in an agreement.
	 
	   	NOW IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS:
	 
	1.  	Mr. ______shall hold the office of the ______for a period of
______from ______. The said ______shall however be entitled for
re-appointment or extension of his term of office by further periods not exceeding
______.
	 
	2.  	That the ______shall faithfully, diligently and honestly and to the best of his ability and
power manage all business affairs of the Company and in particular all the business affairs of
the Company and do and execute all such acts, deeds and things for carrying out its objects as
may from time to time be assigned to him by the Directors of the Company or as may be vested
in him by the Directors of the Company or as may be vested in him as such ______under these
presents, and he shall in all respects conform to and comply with all lawful orders and
directions issued and given by them to him and shall well and faithfully serve the company and
use his best endeavors to promote its interests.
	 
	3.  	The ______shall be entitled to the following remuneration and perquisites which are
in accordance with Schedule XIII of the Companies Act, 1956.

	 	i.  	Salary :
	 
	 	ii.  	Special Allowance :
	 
	 	iii.  	Commission :
	 
	 	Perquisites : 

The ______shall be entitled to all the perquisites listed herein below in addition to
the salary and commission mentioned above;

	 	a.  	Housing :
	 
	 	b.  	Medical Reimbursement :
	 
	 	c.  	Leave Travel Concession :
	 
	 	d.  	Club Fees :
	 
	 	e.  	Personal Accident Insurance/Group Life Insurance :
	 
	 	f.  	Provident Fund/Pension :

 

 

	 	g.  	Gratuity :
	 
	 	h.  	Use of Car with Driver :
	 
	 	i.  	Telephone facility at residence :
	 
	 	j.  	Servant :
	 
	 	k.  	Watchman :
	 
	 	l.  	Gardener :

Other terms and conditions:

	 	a.  	In the event of absence or inadequacy of profits in any financial year during
the tenure of the ______, salary and perquisites subject to the limits stipulated
under Schedule XIII read with Section 269 and 309 of the Companies Act, 1956, is
payable.
	 
	 	b.  	“Family” means the spouse and dependent children of

	 
	 	c.  	Leave with full pay and allowances shall be allowed as per the Company’s rules.
	 
	 	d.  	Reimbursement of entertainment expenses actually and properly incurred in the
course of business of the Company shall be allowed.
	 
	 	e.  	No sitting fees shall be paid to the ______for attending the meetings of the
Board of Directors or Committees thereof.
	 
	 	f.  	The ______shall not be liable to retire by rotation.

	4.  	Subject to the supervision, control and direction of the Board of Directors of the Company
and subject to the provisions of the Companies Act, 1956 the ______of the Company
shall have the power to do all acts, matters and things deemed necessary, proper or expedient
for carrying on the business affairs of the Company and shall have all powers as may be
delegated to him under separate power of attorney to be executed by the Company in his favor
and generally to act for the Company and may delegate all or any of the powers to any
Directors, Managers, Agents or other persons as he may think fit and he shall have the power
to grant to any such person such powers of attorney as he may deem expedient and he may at
pleasure revoke such powers.

	5.  	That the ______shall not exercise any of the following powers on behalf of the
Company namely;

	 	a.  	make any calls on the shareholders in respect of any moneys
remaining unpaid on their shares
	 
	 	b.  	borrow any moneys or make any loans except within the limits and
for the purpose fixed by the Directors of the Company at a Board meeting, and
	 
	 	c.  	Invest any funds of the Company except up to the limits specified
in a resolution passed by the Directors of the Company at a Board meeting, and
that the nature of the investments which may be made by him shall be such as may
be specified in such resolution of the Board.

	6.  	The remuneration and perquisites specified in this agreement shall, however, be increased by
the Board of Directors from time to time at their discretion.

IN WITNESS WHEREOF the Common Seal of the Company has been hereunto affixed and Mr. ____________
has hereunto set and subscribed his hand the day and year first hereinabove written.

The Common Seal of Wipro Limited was hereunto

Affixed pursuant to a resolution passed by the Board

of Directors in that behalf on ______________ in the

Presence of Mr. _____________ and countersigned

by Mr. _______________

SIGNED, SEALED AND DELIVERED BY THE ABOVE

NAMED Mr. ____________________

in presence of Mr.                                         .exv4w9

 

Exhibit 4.9

Sample Letter of appointment to Non Executive Directors

Mr.____________________

Dear Mr._____________

I wish to inform you that the Nominating & Corporate Governance Committee of the Board has
recommended your appointment as a Non Executive Independent Director of the Board of Directors of
Wipro Limited (the Company) and the Board at its meeting held on ___________ approved the same.

It is indeed our privilege to have you on our Board and with your expertise in ____________matters;
we believe that our Company would be able to achieve greater success in the coming years.

I am writing this letter to you to set out the terms of your appointment. It is agreed that this
is a contract for services and is not a contract of employment.

Appointment

Your appointment will be for an initial term of three years commencing on_____ (date), unless
otherwise terminated earlier by and at the discretion of either party upon (one month’s) written
notice. Continuation of your contract of appointment is contingent on satisfactory performance and
you are eligible for election as a director at the forthcoming Annual General Meeting and, if
elected, will be subject to retirement by rotation under the Companies Act, 1956 as well as the
Memorandum and Articles of Association of the Company.

At any time during your tenure including re-election time under the Company’s Memorandum and
Articles of Association or the law, your performance as a director may be reviewed in accordance
with processes agreed to by the Board from time to time. A recommendation as regarding
re-appointment may be made in notices of meeting or other materials provided to shareholders. You
may be required to agree to participate in such reviews.

Time Commitment

Overall, we anticipate a time commitment of (number) of days per year after the induction phase.
Currently, that would typically comprise attendance at;

	 	–  	4 scheduled board meetings. All the meetings would be held in Bangalore, India.
Normally, the Board meeting will take place over two days. Travel time will be in addition
to the meeting time mentioned herein.
	 
	 	–  	Annual General Meeting
	 
	 	–  	Committee meetings which occur at times other than those days set aside for Board meetings.

In addition, you will be expected to devote appropriate preparation time ahead of each meeting.

By accepting this appointment, you have confirmed that you are able to allocate sufficient time to
meet the expectations of your role. The consent of the Chairman is required to be sought before
accepting additional commitments that might affect the time you are able to devote to your role as
a non-executive director of the Company.

The heavy travel burden associated with attending meetings is recognized and directors are, with
the consent of the Chairman, permitted to attend meetings “electronically” when necessary.
However, attendance through audio/video conference will not be taken into consideration for the
purpose “attendance/ quorum” at a Board meeting as this has not been approved under the Companies
Act, 1956.

Technology

By consent to become a director, you consent to the use of video, telephone, electronic mail, any
other technology which permits each director to communicate with every other director.

Role

The management and control of the business of the Company is vested with the Board. The Board
reserves for their own decision the adoption of the strategic direction of the Company, the
appointment of key senior executives, approval of accounts, approval of the business plan and the
budget, approval of financial policies, review of operating results, risk management strategy,
ensuring the effectiveness of governance practices, succession planning and capital

 

 

expenditure. The Board has delegated responsibility for the management, through the Chairman and
Managing Director, to executive management.

As a non-executive director of the Company, you will be expected to participate as a member of the
Board in;

	 	–  	constructively challenging and helping to develop proposals on strategy of the
Company
	 
	 	–  	setting values and standards for the Company and establishing systems for their
communication and monitoring
	 
	 	–  	monitoring the performance of management in meeting agreed goals and objectives
	 
	 	–  	satisfying yourself as to the adequacy and integrity of financial and other
reporting to the Board and Shareholders and that there are adequate systems of internal
control, and
	 
	 	–  	satisfying yourself that systems for identification and management of risks are
robust and appropriate

For detailed duties of the Board, you are requested to refer the attached Corporate Governance
Guidelines of the Company.

Fees

You will be paid a commission of (amount) on a quarterly basis, which will be subject to an annual
review by the Board. In addition, the Company will pay you the following;

	 	–  	Rs.___for attendance at a scheduled board meeting. Where a Board meeting
occurs outside the schedule, an addition fee may be paid.
	 
	 	–  	Rs.___per annum for attendance at a committee meeting (as a Committee
Chairman/Member)

The Company will reimburse you for all reasonable and properly documented expenses in connection
with your travel for attending the Board meeting.

Outside Interests

It is accepted and acknowledged that you have business interests other than those of the Company
and have declared any conflicts that are apparent at present. In the event that you become aware
of any potential conflicts of interest, you are requested to disclose the same to the Chairman and
Company Secretary as soon as apparent.

The Board of the Company has determined you to be independent in terms of “Independence”
requirements as stipulated by the Indian Stock Exchanges and NYSE.

If your circumstances change in any way which may affect your status as an independent director,
you must immediately disclose this to the Board.

You are requested to be aware that under the law, you will generally not be entitled to participate
at the decision at a Board meeting, or to vote, on any matter on which you have a material person
interest unless the other directors unanimously decide otherwise.

Confidentiality

All information acquired during your appointment is confidential to the Company and you are
requested not to release, either during your appointment or following termination (by whatever
means) to third parties without prior clearance of the Chairman. In this connection, you are also
requested to sign the confidentiality agreement enclosed herewith.

Your attention is also drawn to the requirements under both legislation and regulation as to the
disclosure of price sensitive information. Consequently, you are requested to avoid making any
statements that might risk a breach of these requirements without prior clearance from the Chairman
or Company Secretary.

Director orientation/Induction

Immediately after appointment, the Company will provide a comprehensive and formal induction. This
will include the “New Director Tool Kit” as detailed in the Corporate Governance Guidelines of the
Company. We will also arrange for site visits and meetings with key senior and middle management
personnel of our Company.

Review Process

 

 

The performance of individual directors and the whole Board and its Committees is evaluated
annually. You agree that you will participate in;

	 	–  	Continuous improvement programs from time to time determined by the Board as
being appropriate for directors
	 
	 	–  	Participate in processes of internal and external review of director, board and
committee performance as may be determined to be appropriate by the Board from time to
time.

You acknowledge that such process may result in positive or negative recommendations in relation to
your candidature for re-appointment to the Board.

If in the interim, there are any matters which cause you concern about your role, you are requested
to discuss them with the Chairman as soon as is appropriate.

Insurance

The Company has Directors’ & Officers’ liability insurance and it is intended to maintain such
cover for the full term of your appointment. The current indemnity limit is _______(amount); Gist
of the policy document is attached for your reference. In this connection, you are also requested
to sign the indemnification agreement as per the enclosed annexure.

Notification of personal interests

Under the Indian Companies Act, 1956, Indian Stock Exchange Listing Requirements and NYSE Listing
Standards, the Company is required to provide information about the Directors to those stock
exchanges. Filings concerning Directors must also be made with various government authorities.

You agree that you will provide to the Company Secretary promptly (and within required timeframes
for filing that information) all information about you which may be required for this purpose
including (without limitation)

	 	–  	details of your name, address, father’s name, date and place of birth, nationality
	 
	 	–  	details of companies in which you are acting as a director
	 
	 	–  	details of committees of other companies in which you are acting as Chairman or Member
	 
	 	–  	details of companies in which your shareholding is more than 2%
	 
	 	–  	details of shares of the company held by you and your relatives and
transactions in such shares from time to time.

Committees

This letter refers to your appointment as a non-executive director of the Company. In the event
that you are also asked to serve on one or more of the Board committees, this will be covered in a
separate communication setting out the Committee’s terms of reference, any specific
responsibilities and any additional fees that may be payable.

Other corporate documents

You are provided with the following corporate documents which you are requested to go through as
soon as possible.

	 	1.  	Vision statement of the Company
	 
	 	2.  	Composition of the current Board of Directors
	 
	 	3.  	Composition of the Committees of the Board
	 
	 	4.  	Charters of the Committees
	 
	 	5.  	Corporate Governance guidelines
	 
	 	6.  	Code of Business Conduct and Ethics
	 
	 	7.  	Annual Report for the last three years
	 
	 	8.  	Calendar of Board meetings
	 
	 	9.  	Earlier agenda of the Board and Committee meetings (last three quarters)
	 
	 	10.  	Insider Trading Policy
	 
	 	11.  	An executive summary on Directors & Officer insurance

 

 

	 	12.  	Confidentiality Agreement
	 
	 	13.  	Indemnification Agreement
	 
	 	14.  	Any other material that may be relevant

Announcement of your appointment

I will seek your clearance to enable us to make an announcement to the Indian Stock Exchanges and
NYSE of your appointment to the Board of the company.

We look forward to welcoming you to our Board. Please feel free to contact me on (phone number) or
the Company Secretary on (phone number) if you have any queries in relation to the above.

Chairman of the Board

ACKNOWLEDGMENT AND CONSENT

The undersigned has read and understands the foregoing terms of appointment dated ______________
and agrees to abide by the terms contained therein.

	 	 	 	 	 	 	 
	

	 	Signature:	 	 	 	 
	

	 	 	

	 	 
	

	 	Printed Name:

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