Document:

EX-4.3

 Exhibit 4.3 

ESOP Scheme 2012 
 Objective: 

To build a strong organization founded on engaging competent employees who are aligned with company’s objectives. To have in place an appropriate holistic
reward mechanism that will incentivize and motivate these employees, besides other initiatives to attract and retain the best talent and also to provide opportunities for wealth creation and building strong emotional connect. 

Salient Features of the proposal: 
 In order to achieve
the above stated objectives, we propose ESOP scheme that reflects rewarding of performance on pre-defined criteria linked to Business Performance. This scheme proposes to bring in greater ownership in achievement of business targets and imbibes high
performance culture. 
  

	 	a.	Eligibility for coverage: M7 and above employees will be eligible for coverage in ESOP scheme based on the potential, individual performance and criticality of role. 

Employees who have joined as Freshers in M6 grade will be eligible for ESOP scheme on completion of a minimum of 1 year service with the Group
and freshers who have joined in M7 grade will be eligible on completion of minimum service period of 2 years with the Group. 
 Employees due
to retire within 6 months of the date of grant will not be eligible for coverage. 
  

	 	b.	Coverage: Select employees in M7 and above grades across Group will be covered including Executive Directors. 

  

	 	c.	Grant of options: VR Plc Options will be awarded to employees under ESOP scheme 2012 effective 24th September 2012. For vesting condition, the performance
period considered will be FY 2012-13. 

 The tranche shall vest based on the achievement of business performance in the
performance period as defined and applicable to the eligible participants. The vesting schedule will be staggered at 50% vesting at the end of 1st year, 30% at the end 2nd year and balance 20% at the end of the 3rd year subject to continuation of employment at the time of vesting. 

 

	 	d.	Determining number of options: In order to determine the number of options, the grant value will be divided by the average share price of the last thirty days from date of grant. The exercise price will be 10
cents per share of VR Plc. 

  

	 	e.	Ceiling: The aggregate quantum of options that may be granted by the company under this Plan over a period of ten years shall be limited to 10% of the company’s ordinary share capital. 

 

	 	f.	Performance conditions: 

  

	 	•	 	For Businesses - The vesting of options will be dependent on the achievement of business performance measured against BOA and enablers. 

 

			
	 Performance Condition for Businesses
	  	 Parameters

	Operational Deliverables	  	Volume
	  	COP
	  	Free Cash Flow
	  	HSE Scorecard
	Enablers	  	Company Specific

  

	 	•	 	For projects like TSPL, VGCB, Fujairah Gold and WCL - For projects the performance parameters would be the achievement of milestones as mentioned in respective Business Plans. 

 

	 	•	 	For EDs and Corporate Team based in Mumbai, Delhi and London – The performance conditions considered for EDs and Corp Team is weighted average score of businesses, financial aspects and
Sustainability. 

 It may be noted that for EDs, Sustainability will be considered as an separate parameter, in addition to
the already inbuilt sustainability component forming part of weighted average score of businesses. 

  

			
		  	Page 1 of 5

	 	g.	Population distribution of covered employees and weightage of performance conditions: Employees will be categorized on the basis of performance, potential, market pull, and criticality of current and expected
role for award of options. The categories of population distribution will have differing weightages to operational deliverables and Enablers considering their role and impact on each of these parameters. 

 

							
	Distribution of population for award of options	 	  

Value of Options
	 	Weightage of Operational 
Deliverables & Enablers
	 	(Not exceeding)	 	 A

(Sr Mgmt)
	 	 B

(Others)

	Category I - 25% of 
covered population	 	100% of individual CTC *	 	 70% - Operational deliverables 

30% - Enablers
	 	100% - Operational deliverables
	Category II - 50% of covered population	 	75% of individual CTC *	 	 
	Category III - 25% of covered population	 	50% of individual CTC *	 	 

  

	* a)	‘CTC’ refers to fixed CTC and excludes variable pay, production incentives, vehicle reimbursements and location specific allowances. 

	   b)	For overseas locations, options will be granted based on equivalent work levels. 

  

	 	h.	Business Performance Score - The combined score of operational deliverables and enablers will result in the Business Performance Score. 

 

	 	i.	Details on Performance Conditions: 

  

	 	(i)	For Businesses: The entities will have varying weightages to the operational deliverables and Enablers based on the entities’ business drivers as follows: 

Operational Deliverables: 
  

																																													
	 Parameters
	  	HZL	 	 	ZI	 	 	KCM	 	 	CMT	 	 	SGL	 	 	Balco	 	 	VAL-J	 	 	VAL-L	 	 	SEL	 	 	S Cu	 	 	Malco	 
	 Volume
	  	 	40	% 1 	 	 	33	% 	 	 	40	%3 	 	 	50	% 	 	 	50	%4 	 	 	40	%5 	 	 	35	% 	 	 	50	% 	 	 	30	% 	 	 	20	%7 	 	 	30	% 
	 COP
	  	 	20	% 2 	 	 	20	% 	 	 	30	% 	 	 	30	% 	 	 	10	% 	 	 	30	%6 	 	 	35	% 	 	 	30	% 	 	 	30	% 	 	 	20	% 	 	 	30	% 
	 Free Cash Flow
	  	 	30	% 	 	 	20	% 	 	 	20	% 	 	 	10	% 	 	 	30	% 	 	 	20	% 	 	 	20	% 	 	 	10	% 	 	 	30	% 	 	 	50	% 	 	 	30	% 
	 HSE
	  	 	10	% 	 	 	27	% 	 	 	10	% 	 	 	10	% 	 	 	10	% 	 	 	10	% 	 	 	10	% 	 	 	10	% 	 	 	10	% 	 	 	10	% 	 	 	10	% 

 Note: 
  

	1 	Volume weightage of 40% comprises 30% for MIC volume and 10% for Integrated Silver volume. 

	2	COP weightage of 20% comprises 15% for Zn COP and 5% for Pb COP 

	3 	Volume refers to integrated production 

	4 	Volume refers to Iron Ore sales 

	5 	Volume weightage of 40% comprises 20% for Al volume and 20% for power sales 

	6 	COP weightage of 30% comprises 15% for Al COP and 15% for commercial power COP 

	7 	Volume refers to production of fresh anode 

 Enablers: 

 

																																													
	 Parameter
	  	HZL	 	 	ZI	 	 	KCM	 	 	CMT	 	 	SGL	 	 	BALCO	 	 	VAL - J	 	 	VAL - L	 	 	SEL	 	 	S Cu	 	 	MALCO	 
	 PR *
	  	 	15	% 	 	 	33	% 	 	 	10	% 	 	 	10	% 	 	 	20	% 	 	 	25	% 	 	 	40	% 	 	 	40	% 	 	 	40	% 	 	 	25	% 	 	 	50	% 
	 HR
	  	 	15	% 	 				 	 	15	% 	 	 	10	% 	 	 	15	% 	 	 	15	% 	 	 	15	% 	 	 	10	% 	 	 	10	% 	 	 	15	% 	 	 	25	% 
	 Asset Optimization
	  	 	15	% 	 	 	—  	  	 	 	20	% 	 	 	10	% 	 	 	—  	  	 	 	20	% 	 	 	10	% 	 	 	—  	  	 	 	—  	  	 	 	20	% 	 	 	25	% 
	 Growth **
	  	 	20	% 	 				 	 	20	% 	 	 	—  	  	 	 	50	% 	 	 	40	% 	 	 	40	% 	 	 	50	% 	 	 	50	% 	 	 	40	% 	 	 	—  	  
	 Mine Development
	  	 	15	% 	 	 	67	% 	 	 	20	% 	 	 	30	% 	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
	 Exploration
	  	 	10	% 	 				 	 	15	% 	 	 	40	% 	 	 	15	% 	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
	 Market Cap
	  	 	10	% 	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  

  

			
	*      PR refers to a)	  	Media (local, State and National level), Community Relations and CSR initiatives
	b)	  	Effective relationship at all levels for smooth operation and growth mission like PCB, MOEF, Industry depts., SEBs, Coal Ministry, Power Ministry, Mines Ministry, etc.

	
	

	**	Growth Includes Projects / Approvals / Coal block / Coal Linkage / Bauxite / Karnataka / Zawar / etc. 

  

			
		  	Page 2 of 5

	 	(ii)	For EDs and Corporate Team based in Mumbai, Delhi and London – The performance conditions considered for EDs and Corp Team is as follows: 

 

 For EDs 
  

							
	 Sl No
	  	 Parameter
	  	Weightage	 
	 1
	  	 Weighted Average Score of Businesses *
	  	 	30	% 
	 2
	  	 Market Capitalization of VR Plc**
	  	 	60	% 
	 3
	  	 Sustainability
	  	 	10	% 
		  		  	  
	  
	 
		  	 Total
	  	 	100	% 
		  		  	  
	  
	 

 

 For Corp Team at Mumbai, Delhi and London 

 

							
	 Sl No
	  	 Parameter
	  	Weightage	 
	 1
	  	 Weighted Average Score of Businesses *
	  	 	50	% 
	 2
	  	 Market Capitalization of VR Plc**
	  	 	20	% 
	 3
	  	 Sesa Sterlite Merger
	  	 	20	% 
	 4
	  	 Sesa Sterlite Valuation
	  	 	10	% 
		  		  	  
	  
	 
		  	 Total
	  	 	100	% 
		  		  	  
	  
	 

 
 

  

	*	Weightages for Business Scores of entities will be as follows: 

  

																	
	 Company
	  	 HZL
	  	SGL	  	KCM	  	Av of Balco, VAL & SEL	  	 ZI
	  	S Cu	  	Malco	  	CMT
	 Score
	  	Simple average of above entities’ Business Score	  	Simple average of above entities’ Business Score
	 Weightage
	  	80%	  	20%

  

	**	The Comparator Group comprises of 14 companies as in Alcoa, Anglo American, Antofagasta, BHP Billiton, ENRC, First Quantum, FMG – Fortescue, Glencore, Khazamkhys, Rio Tinto, Teck, Tullow, Vale and Xstrata. The
score against market capitalization parameter for (ii) above shall be determines using the table below relying upon the relative ranking in the comparator Group. The relative ranking will be calculated on the basis of last 30 days average share
price at the beginning and at end of performance period (1st April to 31st March). 

  

			
	 Relative Ranking
	  	 Score

	1	  	100
	2	  	100
	3	  	100
	4	  	90
	5	  	85
	6	  	80
	7	  	75
	8	  	70
	9	  	60
	10	  	50
	11	  	40
	12	  	30
	13	  	Nil
	14	  	Nil
	15	  	Nil

 While at the top 3 ranking, with the score of 100, the vesting would be at 100%, whereas at the median (8th
Rank) the score will be 70 which will result in corresponding vesting of 30%. 
  

	 	j.	Vesting proportion: The vesting proportion will be dependent on achievement of pre-determined performance conditions as follows: 

 

			
	 Business Performance Score
	  	Vesting %
	 Above 100%
	  	100% plus 2% for every additional 1% score above 100
(upto a max vesting of 120%)*
	 95% - 100%
	  	100%
	 Below 95%
	  	100% minus 2% for every 1% fall in score below 95
	 Below 90%
	  	90% minus 3% for every 1% fall in score below 90
	 At 70%
	  	30%
	 Below 70%
	  	Nil

  

	*	For EDs vesting will be upto a maximum of 100% 

  

			
		  	Page 3 of 5

	 	k.	Financial Implication: The average number of options per employee is 1,818 and the total financial impact is Rs 424 cr approx. Table below details out the cost implication of the proposed tranche as well as
previous tranches: 

  

																					
	 Details
	  	LTIP 2006	 	 	LTIP 2007	 	 	LTIP 2009	 	 	LTIP 2011	 	 	Proposed for ESOP 2012	 
	 No of employees covered
	  	 	1330	  	 	 	2148	  	 	 	2246	  	 	 	2684	  	 	 	2820	  
	 Total no. of eligible employees
	  	 	2699	  	 	 	5986	  	 	 	7576	  	 	 	8896	  	 	 	7234	  
	 %age of eligible population covered
	  	 	49	% 	 	 	36	% 	 	 	30	% 	 	 	30	% 	 	 	39	% 
	 No of options allocated
	  	 	2,531,350	  	 	 	1,692,349	  	 	 	2,478,000	  	 	 	2,862,100	  	 	 	5,127,240	  
	 Share Price (in GBP)
	  	 	9.9	  	 	 	20	  	 	 	15	  	 	 	19	  	 	 	9.5	  
	 Exchange rate
	  	 	82.06	  	 	 	77.18	  	 	 	80	  	 	 	72	  	 	 	87	  
	 Average no of options per employee
	  	 	1,903	  	 	 	788	  	 	 	1,103	  	 	 	1,066	  	 	 	1,818	  
	 Average share value per employee
	  	 	Rs 15.45 lacs	  	 	 	Rs 12.16 lacs	  	 	 	Rs 13.24 lacs	  	 	 	Rs 14.58 lacs	  	 	 	Rs 15.02 lacs	  
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total Financial Impact
	  	 	Rs 205.64 cr	  	 	 	Rs 261.20 cr	  	 	 	Rs 297.36 cr	  	 	 	Rs 391.53 cr	  	 	 	Rs 423.78 cr	  
	  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	  	$	45.69 m	  	 	$	 58.04 m	  	 	$	 66.08 m	  	 	$	 86.90 m	  	 	$	 77.05 m	  
	  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 

 AT / 24.09.2012 

Enclosed: 
 Annexure A – Business Plan numbers for
Operational Deliverables (excluding HSE) 
 Annexure B – Vesting percentage for various Business Performance score scenarios 

Annexure C – Vesting percentage for various Performance score scenarios for Corp Team and EDs 

  

			
		  	Page 4 of 5

 Annexure A: Business Plan figures for OD parameters for each Business 

Target figures for 2012-13 as per Business Plan 
  

																																																									
	 Parameters
	 	SGL	 	 	HZL *	 	 	VAL-J	 	 	VAL-L	 	 	SEL	 	 	Balco **	 	 	S Cu	 	 	Malco	 	 	KCM	 	 	ZI	 	 	BMM	 	 	LM	 	 	SZ	 	 	CMT	 
	 Volume (in MT)
	 	 	21	1 	 	 
 	Refer
below table	  
  	 	 	665,529	  	 	 	1,200,000	  	 	 	14702	2 	 	 
 	Refer
below table	  
  	 	 	350,830	  	 	 	869	  	 	 	203,230	  	 	 	419,519	  	 	 	82,994	  	 	 	186,275	  	 	 	150,250	  	 	 	27,070	  
	 COP (in $/MT)
	 	 	22	  	 				 	 	1,900	  	 	 	310	  	 	 	1.83	3 	 				 	 	0.32	4 	 	 	3.55	3 	 	 	169	  	 	 	1,262	  	 	 	1,406	  	 	 	1,233	  	 	 	1,213	  	 	 	207	  
	 Free Cash Flow (in $ Mn)
	 	 	725	  	 	 	1,385	  	 	 	–33	  	 	 	–22	  	 	 	380	  	 	 	285	  	 	 	249	  	 	 	37	  	 	 	604	  	 	 	265	  	 	 	57	  	 	 	82	  	 	 	125	  	 	 	52	  

 

 Note: 

	1	Sesa Goa volume is in mt 

	2	SEL Volume is in MU 

	3 	SEL & MALCOCOP is in Rs./kwh 

	4	Copper COP is in c/lb

					
	 ‡ HZL
	  	 	 
	 Zinc MIC (in MT)
	  	 	815,049	  
	 Lead MIC (in MT)
	  	 	115,691	  
	 Integrated Silver (in kg)
	  	 	354,702	  
	 Zinc COP (in $/MT)
	  	 	800	  
	 Lead COP (in $/MT)
	  	 	745	  

 

					
	 ‡‡ BALCO
	  	 	 
	 Aluminium (in MT)
	  	 	359241	  
	 Power Sales (in MU)
	  	 	6,116	  
	 Aluminium COP (in $/MT)
	  	 	1,795	  
	 Power COP (n Rs/Kwh)
	  	 	2.15	  

 
 

  
 Annexure B: Vesting percentage for
various Business Performance score scenarios 
 To have a better understanding on the calculation of vesting proportions for different business
performance score, below table demonstrates the actual vesting proportion for sample business scores. 
  

							
	 Business Performance Score
	  	 Particulars
	  	Calculation	  	Vesting Proportion
	 105%
	  	5% more than 100%	  	100% + (5% * 2)	  	110%
	 100%
	  	—	  	—	  	100%
	 95%
	  	—	  	—	  	100%
	 90%
	  	5% less than 95%	  	100% - (5% * 2)	  	90%
	 85%
	  	5% less than 90%	  	90% - (5% * 3)	  	75%
	 80%
	  	10% less than 90%	  	90% - (10% * 3)	  	60%
	 75%
	  	15% less than 90%	  	90% - (15% * 3)	  	45%
	 70%
	  	20% less than 90%	  	90% - (20 * 3)	  	30%

 Annexure C: Vesting percentage for various Performance score scenarios for Corp Team and EDs 

Hypothetical projection of vesting for Group (ii) namely Corporate Team and EDs under different performance conditions as follows: 

 

 Scenario 1 
  

																					
	 Parameters
	 	Score	 	 	For EDs	 	 	For Others in
Corp Team	 
	 	 	Weightage	 	 	Final
Score	 	 	Weightage	 	 	Final
Score	 
	 Weighted Avg Business Score
	 	 	90	  	 	 	30	% 	 	 	27.00	  	 	 	50	% 	 	 	45	  
	 Market Cap Score (Rank 3)
	 	 	100	  	 	 	60	% 	 	 	60.00	  	 	 	20	% 	 	 	20	  
	 Sesa Sterlite Merger
	 	 	90	  	 	 	—  	  	 	 	—  	  	 	 	20	% 	 	 	18	  
	 Sesa Sterlite Valuation
	 	 	90	  	 	 	—  	  	 	 	—  	  	 	 	10	% 	 	 	9	  
	 Sustainability
	 	 	80	  	 	 	10	% 	 	 	8.00	  	 	 	—  	  	 	 	—  	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total
	 	 	—  	  	 	 	—  	  	 	 	95.00	  	 	 	—  	  	 	 	92.00	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Vesting percentage
	 	 	—  	  	 	 	—  	  	 	 	100	% 	 	 	—  	  	 	 	94	% 

 

 Scenario 2 
  

																					
	 Parameters
	 	Score	 	 	For EDs	 	 	For Others in
Corp Team	 
	 	 	Weightage	 	 	Final
Score	 	 	Weightage	 	 	Final
Score	 
	 Weighted Avg Business Score
	 	 	90	  	 	 	30	% 	 	 	27.00	  	 	 	50	% 	 	 	45	  
	 Market Cap Score (Rank 4)
	 	 	90	  	 	 	60	% 	 	 	54.00	  	 	 	20	% 	 	 	18	  
	 Sesa Sterlite Merger
	 	 	80	  	 	 	—  	  	 	 	—  	  	 	 	20	% 	 	 	16	  
	 Sesa Sterlite Valuation
	 	 	80	  	 	 	—  	  	 	 	—  	  	 	 	10	% 	 	 	8	  
	 Sustainability
	 	 	50	  	 	 	10	% 	 	 	5.00	  	 	 	—  	  	 	 	—  	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total
	 	 	—  	  	 	 	—  	  	 	 	86.00	  	 	 	—  	  	 	 	87.00	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Vesting percentage
	 	 	—  	  	 	 	—  	  	 	 	78	% 	 	 	—  	  	 	 	81	% 

 
 

 

 Scenario 3 
  

																					
	 Parameters
	 	Score	 	 	For EDs	 	 	For Others in
Corp Team	 
	 	 	Weightage	 	 	Final
Score	 	 	Weightage	 	 	Final
Score	 
	 Weighted Avg Business Score
	 	 	85	  	 	 	30	% 	 	 	25.50	  	 	 	50	% 	 	 	42.5	  
	 Market Cap Score (Rank 5)
	 	 	85	  	 	 	60	% 	 	 	51.00	  	 	 	20	% 	 	 	17	  
	 Sesa Sterlite Merger
	 	 	70	  	 	 	—  	  	 	 	—  	  	 	 	20	% 	 	 	14	  
	 Sesa Sterlite Valuation
	 	 	70	  	 	 	—  	  	 	 	—  	  	 	 	10	% 	 	 	7	  
	 Sustainability
	 	 	25	  	 	 	10	% 	 	 	2.50	  	 				 			
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total
	 	 	—  	  	 	 	—  	  	 	 	79.00	  	 	 	—  	  	 	 	80.50	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Vesting percentage
	 	 	—  	  	 	 	—  	  	 	 	57	% 	 	 	—  	  	 	 	62	% 

 

 Scenario 4 
  

																					
	 Parameters
	 	Score	 	 	For EDs	 	 	For Others in
Corp Team	 
	 	 	Weightage	 	 	Final
Score	 	 	Weightage	 	 	Final
Score	 
	 Weighted Avg Business Score
	 	 	70	  	 	 	30	% 	 	 	21.00	  	 	 	50	% 	 	 	35	  
	 Market Cap Score (Rank 9)
	 	 	60	  	 	 	60	% 	 	 	36.00	  	 	 	20	% 	 	 	12	  
	 Sesa Sterlite Merger
	 	 	75	  	 	 	—  	  	 	 	—  	  	 	 	20	% 	 	 	15	  
	 Sesa Sterlite Valuation
	 	 	75	  	 	 	—  	  	 	 	—  	  	 	 	10	% 	 	 	7.5	  
	 Sustainability
	 	 	75	  	 	 	10	% 	 	 	7.50	  	 	 	—  	  	 	 	—  	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total
	 	 	—  	  	 	 	—  	  	 	 	64.50	  	 	 	—  	  	 	 	69.50	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Vesting percentage
	 	 	—  	  	 	 	—  	  	 	 	Nil	  	 	 	—  	  	 	 	Nil	  

 
 

  

			
		  	Page 5 of 5EX-4.8

 Exhibit 4.8 

Dated May 20, 2014 
 (1) Vedanta Resources Plc 

(2) Sesa Sterlite Limited 
 MANAGEMENT SERVICES
AGREEMENT 

 AGREEMENT dated May 20, 2014 

BY AND BETWEEN 
 Vedanta Resources Plc (Reg
No. 04740415) , a company incorporated under the laws of England & Wales and having its registered office at 2nd Floor, Vintners Place, 68 Upper Thames Street, London EC4V 3BJ (hereinafter referred to as VR Plc which
expression shall, unless repugnant to the context or meaning thereof, be deemed to include its successors); 
 AND 

Sesa Sterlite Limited, a company registered under the laws of India and having its registered office at Sesa Ghor, 20 EDC Complex, Patto,
Panaji, Goa -403001 (hereinafter referred to as SSL which expression shall, unless repugnant to the context or meaning thereof, be deemed to include its successors). 

VR Plc and SSL shall individually be referred to as Party and collectively as Parties. 

WITNESSETH: 
 WHEREAS VR Plc is a
London listed, metals and mining company and is the ultimate parent company of SSL and various other group companies in India and across the world. VR Plc has qualified and well experienced managerial and operating personnel. 

WHEREAS SSL is BSE, NSE and NYSE listed company which is the result of the Group consolidation and has world-class assets across iron-ore, copper,
aluminium, zinc-lead-silver, oil & gas and commercial power. It also has downstream investment in Bharat Aluminium Company Limited, Hindustan Zinc Limited and Cairn India Limited. 

WHEREAS SSL has requested and VR Plc is willing to provide strategic planning and consultancy services to SSL and each of its subsidiaries in varied
areas of business such that each of the companies is able to finalise and implement plans of growth (both generic and acquisitions), raise finance, and enhance profile. 

WHEREAS the Parties have agreed that VR Plc shall render such services to SSL on the terms and conditions hereinafter contained. 

NOW IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS: 
  

	1.	Services 

  

	1.1	The scope of services to be rendered by VR Plc to SSL will include, but not be limited to, the services listed in the Appendix 1 (the Services). In the event SSL’s requirement is of services
other than as listed in Appendix 1, VR Plc shall render such services on such terms as may be mutually agreed between the Parties. 

  

	1.2	 The Services shall be rendered by VR Plc solely and on a need-be basis to SSL and its subsidiaries as per the requirements of SSL. SSL shall keep VR
Plc informed of the 

  
 2 

	 	
development if its programmes, projects etc., and the Services shall be rendered and supplied by VR Plc upon SSL’s request. 

 

	1.3	VR Plc agrees to put at SSL’s disposal skilled employees and its knowledge and experience in which SSL is engaged in order to provide the Services. VR Plc agrees to provide SLL with oral and written expert advice,
as warranted and with factual information, results of studies and services relating to business activities and management of SSL and recommendations, to enable it to promote and improve its business. 

 

	2.	Fees 

  

	2.1	In consideration of the aforementioned Services, SSL shall pay to VR Plc fees a maximum fee of US$ 3 million in any financial year based on a cost allocation methodology established. 

 

	2.2	Unless agreed by the Parties to the contrary, VR Plc shall issue the invoices to SSL in September and March in each year during the Term (hereinafter defined) for the fee in arrears. SSL shall pay each invoice
within 45 days following receipt of the invoice. In case of any dispute on the fee, SSL shall ensure payment of the undisputed portion of the fee and the Parties shall attempt to resolve the disputed items as soon as practicable in good-faith.

  

	2.3	SSL shall pay the gross fee to VR Plc and in case of any withholding taxes, SSL shall increase the fee amount to such extent that net fee after deduction of withholding tax shall equal the gross fee as calculated under
this Agreement. In the event of withholding tax, SSL shall provide VR Plc with the necessary vouchers certifying the tax withheld. 

  

	2.4	The fee payable by SSL under clause 2.1 above is the full and complete compensation for all obligations assumed by VR Plc under this Agreement and for all Intellectual Property it assigns to SSL under or pursuant to
clause 4.2 below. 

  

	2.5	All gross fee and all amounts payable under this Agreement are exclusive of VAT (or any similar tax) which SSL shall forthwith pay at the rate from time to time prescribed by law. VR Plc shall provide SSL with a valid
VAT invoice. VR Plc shall provide reasonable assistance to SSL to enable it to recover any VAT so charged. 

  

	2.6	If SSL fails to make any payment due to you under this Agreement, without prejudice to any other right or remedy available to it, VR Plc may charge interest on the amount outstanding, at the rate of three per cent
(3%) per annum. Such interest will be calculated from the date or last date for payment to the actual date of payment, both dates inclusive, and will be compounded quarterly. SSL shall pay interest upon demand. 

 

	3.	Confidentiality 

  

	3.1	The Parties shall keep confidential, and not use for any purpose other than for the Services, any information that either VR Plc, SSL or its subsidiaries may have access to or that comes to their knowledge during the
course of Services being rendered, and neither Party shall disclose the same to any third party (other than to its employees and other professional advisors on a need-be basis and undertaking the confidentiality obligations as hereunder) without
first obtaining the other Party’s prior written consent. 

  

	3.2	At the end of the Term, both Parties shall immediately deliver to the other Party all materials, records, databases, documents and other papers that are in its possession, custody or control and that are the other
Party’s property, or that otherwise relates to the other Party’ business. 

  
 3 

	4.	Intellectual Property 

  

	4.1	VR Plc shall disclose to SSL promptly the factual information, results of studies and services relating to business activities and management of SSL and recommendations, including any improvements that VR Plc makes or
conceives, either alone or jointly with others, in the course of, or as a direct result of, the work done for SSL, or as a consequence of information SSL or its subsidiaries have supplied to VR Plc for the purposes of this Agreement.

  

	4.2	To the extent that any Intellectual Property in the work VR Plc does for SSL is capable of prospective assignment, VR Plc now assigns those Intellectual Property to SSL; and to the extent any Intellectual Property in
that work cannot prospectively be assigned, VR Plc shall assign that Intellectual Property to SSL as and when it is are created, at SSL’s request. 

  

	4.3	The expression “Intellectual Property” means patents, trade marks, service marks, registered designs, copyrights, database rights, design rights, confidential information, applications for any of the above,
and any similar right recognised from time to time in any jurisdiction, together with all rights of action in relation to the infringement of any of the above. 

  

	5.	Independent Contractor Relationship 

 VR Plc agree that it shall be working for SSL as an
independent contractor and that nothing in this Agreement shall be construed as constituting the relationship of employer and employee, or principal and agent. Similarly, nothing herein contained shall be construed to constitute a joint venture,
arrangement for sharing profits or partnership between the Parties. 
  

	6.	Term and Termination 

  

	6.1	This Agreement shall be effective from 1st April 2013 and shall be valid for a period of five (5) years i.e. up to 31st March 2018 (Term), unless terminated in advance by mutual consent or as provided in clause 6.2 below. 

 

	6.2	Either Party may terminate this Agreement by giving notice to the other if: 

  

	 	6.1.1	the other is in breach of any provision of this Agreement and (if it is capable of remedy) the breach has not been remedied within 60 days after receipt of written notice specifying the breach and requiring its remedy;
or 

  

	 	6.1.2	the other becomes insolvent, or if an order is made or a resolution is passed for its winding up (except voluntarily for the purpose of solvent amalgamation or reconstruction); or 

 

	 	6.1.3	a delay in performance under clause 7 lasts for more than 6 months. 

  

	6.3	All clauses, which by their very intent require to survive the termination or expiry, shall survive the termination or expiry of this Agreement for any reason and continue indefinitely. 

 

	7.	Force Majeure 

  
 4 

 If the performance by either Party of any obligation under this Agreement (except a payment
obligation) is delayed or prevented by circumstances beyond its reasonable control, the affected Party shall not be in breach of this Agreement because of that delay in performance. 

 

	8.	Liability 

  

	8.1	VR Plc makes no representation nor gives any warranty to SSL that any advice or information given by VR Plc, or the content or use of any materials, works or information it provides in connection with this Agreement,
will not constitute or result in any infringement of third-party rights. 

  

	8.2	Notwithstanding anything contained herein, neither Party’s liability for any breach of this Agreement or the termination hereunder shall extend to any compensation, reimbursement or damages or losses, or any loss
of prospective profits, loss of revenue, loss of anticipated sales, loss of data, and including but not limited to expenditure, investment, lease, commitment, loss of contracts or opportunity, whether direct or indirect, even if the possibility of
those losses were within contemplation. 

  

	9.	General 

  

	9.1	Notices: Any notice to be given under this Agreement must be in writing, may be delivered to the other Party by speed post/registered post/courier or any means of recorded delivery, and will be deemed to be
received on the date of receipt or latest within two (2) business days of posting. 

  

	9.2	Headings: The headings in this Agreement are for ease of reference only; they do not affect its construction or interpretation. 

 

	9.3	Assignment: Neither Party may assign or transfer this Agreement as a whole, or any of our rights or obligations under it, without first obtaining the written consent of the other Party. 

 

	9.4	Severability: If any part of any provision of this Agreement is void or unenforceable in any jurisdiction, the validity, legality and enforceability of the other provisions of this Agreement shall not be affected
or impaired. 

  

	9.5	Entire Agreement: This Agreement constitutes the entire agreement between the Parties relating to its subject matter and each acknowledges that it has not entered into this Agreement on the basis of any warranty,
representation, statement, agreement or undertaking except those expressly set out in this Agreement. 

  

	9.6	Formalities: Each Party shall take any action and execute any document reasonably required by the other Party to give effect to any of its rights under this Agreement, or to enable their registration in any
relevant territory provided the requesting Party pays the other Party’s reasonable expenses. 

  

	9.7	Amendments: No variation or amendment of this Agreement shall be effective unless it is made in writing and signed by both Parties. 

  
 5 

	9.8	Third parties: No one except the Parties has any right to prevent the amendment of this Agreement or its termination, and no one except you or us may enforce any benefit conferred by this Agreement, unless this
Agreement expressly provides otherwise. 

  

	9.9	Governing Law and Dispute Resolution: This Agreement is governed by, and is to be construed in accordance with the laws of England & Wales. Any dispute which has arisen or may arise out of, or in
connection with, this Agreement shall be referred to a single arbitrator to be finally resolved by arbitration under the Rules of Arbitration of the London Court of International Arbitration (LCIA), which rules are deemed to be
incorporated by reference into this clause. The seat, or legal place, of arbitration shall be London, England and the language of arbitration shall be English. The decision of the arbitrator shall be final and binding to the fullest extent permitted
by law. Subject to the foregoing, either Party may bring proceedings for an injunction before any competent English courts. 

IN WITNESS WHEREOF this Agreement has been entered into the day and year first written above. 

 

							
		 	SIGNED for and on behalf of	  		  	)
				
		 	VEDANTA RESOURCES PLC	  		  	)
				
		 	Director	  		  	)
				
		 	Director/Company Secretary	  		  	) /s/ Tom Albanese
				
		 	SIGNED for and on behalf of	  		  	)
				
		 	SESA STERLITE LIMITED	  		  	)
				
		 	Director	  		  	)
				
		 	Director/Company Secretary	  		  	) /s/ D. D. Jalan

  
 6 

 APPENDIX 1 

Management Services 
  

	1.	Strategic advice 

  

	 	a)	Advice on developing a global profile, particularly relevant to the metals and mining businesses of the SSL group of companies 

  

	 	b)	advice and assistance in formulating and implementing short, medium and long term plans and strategies for growth and diversification, and also consolidation so as to enhance and make effective use of corporate
resources in the form of personnel, finance and goods and services. 

  

	 	c)	Advice and assistance on all opportunities for growth through mergers and acquisitions including identification, evaluation, negotiating and closing. 

 

	 	d)	Advice on all plans for new ventures, business and facilities (including mines and refining and manufacturing facilities) including evaluation of proposals and their implementation. 

 

	 	e)	Assistance in sourcing international consultants including specialists in mining and metallurgical, suppliers, vendors and customers and negotiation with these parties. 

 

	 	f)	Advice on globalisation including in particular advice on best practices in all forms of production, marketing distribution, administration, human resources, and so forth. 

 

	2.	Financial, Treasury and Legal Advice 

  

	 	a)	Advice on financial structure of SSL including advice and assistance in relation to raising of financial resources by private and/or public placements of debt and/or equity. This advice will include consideration of new
and/or different instruments or arrangements which are evolved in the international markets and their applicability to the companies. 

  

	 	b)	Assistance in short, medium and long term financial planning and forecasting. 

  

	 	c)	Assistance in investment appraisal. 

  

	 	d)	Support for implementation of financial systems. 

  

	 	e)	Internal audit 

  

	 	f)	Assistance in cash management and cash flow planning. 

  

	 	g)	Advice on banking arrangements and particularly in the international sector including foreign exchange exposure. 

  

	 	h)	Advice on taxation matters. 

  

	 	i)	Advice on legal matters, including trademark, license, domain name, and contractual issues. 

  

	3.	Marketing 

  

	 	a)	Advice on public relations, marketing and customer service provision. 

  

	 	b)	Provision of corporate marketing material. All such material will become the property of SSL subject to agreed fee. 

  

	4.	Training 

  

	 	a)	Assistance with the provision of staff training. 

  
 7 

	5.	IT support 

  

	 	a)	Assistance with the provision of IT software support. 

  

	 	b)	Provision of software and systems advice. 

  

	6.	Human Resource Management 

  

	 	a)	Advice on short, medium and long term HR planning. 

  

	 	b)	Advice on establishing HR policies, selection and training of personnel and in other organisational matters. 

  

	 	c)	Advice on executive development programmes, incentives, retirements, and other benefit programmes. 

  

	7.	Sustainability 

  

	 	a)	Advice on diagnostics or assessment of energy efficiencies, and development or oversee of sustainability evaluation or monitoring systems. 

 

	 	b)	Advice on sustainability program operations to ensure compliance with environmental or governmental regulations in line with corporate sustainability strategy. 

 

	 	c)	Communicate and coordinate with management, shareholders, customers, and employees to address sustainability issues. 

  

	8.	Corporate Communications 

  

	 	a)	Advice on development of a corporate communications strategy and effectively communicating with internal and external stakeholders. 

  

	 	b)	Advice on streamlining communications among business functions, helping management, human resources and marketing maintain a unified voice and consistent messages. 

  
 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00234-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00234-of-00352.parquet"}]]