Document:

EX-4.6

 Exhibit 4.6 

Vedanta Resources plc 
  

 
 DEFERRED
SHARE BONUS PLAN 
  
  

Approved and adopted by the Board of Directors of the Company on 13 May 2015 

The Plan is a discretionary benefit offered by the Vedanta group for the benefit of its employees and employees within the group. Its main purpose is to
increase the interest of the employees in Vedanta’s long term business goals and performance through share ownership. The Plan is an incentive for the employees’ future performance and commitment to the goals of the Vedanta group. 

Shares received under the Plan, any cash received under the Plan and any gains obtained under the Plan are not part of salary for any purpose except to
any extent required by statute. 
 The Plan is being offered for the first time in 2015 and the remuneration committee of the board of Vedanta shall have
the right to decide, in its sole discretion, whether or not further awards will be granted in the future and to which employees those awards will be granted. 

The detailed rules of the Plan are set out overleaf. 
  

 

 CONTENTS 
  

							
	Rule	  	 	  	Page	 
	1.	  	 DEFINITIONS AND INTERPRETATION
	  	 	1	 
			
	2.	  	 ELIGIBILITY
	  	 	3	 
			
	3.	  	 GRANT OF AWARDS
	  	 	4	 
			
	4.	  	 VALUE OF SHARES FOR AWARDS
	  	 	6	 
			
	5.	  	 VESTING OF AWARDS
	  	 	6	 
			
	6.	  	 CONSEQUENCES OF VESTING
	  	 	8	 
			
	7.	  	 EXERCISE OF OPTIONS
	  	 	9	 
			
	8.	  	 CASH ALTERNATIVE
	  	 	10	 
			
	9.	  	 LAPSE OF AWARDS
	  	 	12	 
			
	10.	  	 LEAVERS
	  	 	12	 
			
	11.	  	 TAKEOVERS AND OTHER CORPORATE EVENTS
	  	 	14	 
			
	12.	  	 ADJUSTMENT OF AWARDS
	  	 	16	 
			
	13.	  	 CLAWBACK
	  	 	16	 
			
	14.	  	 ALTERATIONS
	  	 	18	 
			
	15.	  	 MISCELLANEOUS
	  	 	18	 
		
	 APPENDIX: GRANT OF A FORFEITABLE SHARES AWARD
	  	 	21	 

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	In the Plan, unless the context otherwise requires: 

 “Award” means an Option,
a Conditional Award or a Forfeitable Shares Award; 
 “Board” means the board of directors of the Company or a duly
authorised committee appointed by them or a duly authorised person; 
 “Bonus” means a bonus payable under a discretionary
bonus arrangement operated by a Participating Company, which in the case of a bonus to a director of the Company is payable in respect of service and/or performance in a period not exceeding the length of the relevant financial year to which the
bonus relates1; 
 “Clawback” means an obligation to repay the amounts
referred to in Rule 13.3; 
 “Committee” means the remuneration committee of the Board or, on and after the occurrence of a
corporate event described in Rule 11 (Takeovers and other corporate events), the remuneration committee of the Board as constituted immediately before such event occurs; 

“Company” means Vedanta Resources plc (registered in England and Wales with registered number 04740415); 

“Conditional Award” means a conditional right to acquire Shares which is designated as a conditional award by the Committee
under Rule 3.2 (Type of Award); 
 “Control” means control within the meaning of section 995 of the Income Tax Act
2007; 
 “Dividend Equivalent” means a benefit calculated by reference to dividends paid on Shares as described in Rule 6.4;

 “Exercise Period” means the period referred to in Rule 6.1 during which an Option may be exercised; 

“Forfeitable Shares” means Shares comprised in a Forfeitable Shares Award which are subject to certain restrictions and
forfeiture under the Plan; 
 “Forfeitable Shares Award” means the transfer of the beneficial interest in Forfeitable Shares
to a Participant and the subsequent holding of that interest in accordance with the Plan; 
 “Grant Date” means the date on
which an Award is granted; “Group Member” means: 
  

	1	In the case of directors of the Company the Plan can only be used to defer a bonus (or portion of bonus) that has been earned over a period no longer than one
financial year of the Company. If the bonus relates to performance and/or service over more than one financial year, the Plan must first be approved by shareholders in general meeting. 

  
 1 

	 	(a)	a Participating Company or a body corporate which is the Company’s holding company (within the meaning of section 1159 of the Companies Act 2006) or a Subsidiary of the Company’s holding company;

  

	 	(b)	a body corporate which is a subsidiary undertaking (within the meaning of section 1162 of the Companies Act 2006) of a body corporate within paragraph (a) above and has been designated by the Board for this
purpose; and 

  

	 	(c)	any other body corporate in relation to which a body corporate within paragraph (a) or (b) above is able (whether directly or indirectly) to exercise 20% or more of its equity voting rights and has been designated
by the Board for this purpose; 

 “ITEPA” means the Income Tax (Earnings and Pensions) Act 2003; 

“Listing Rules” means the Listing Rules published by the United Kingdom Listing Authority; 

“London Stock Exchange” means London Stock Exchange plc or any successor to that company; 

“Option” means a conditional right to acquire Shares with a nil option price which is designated as an option by the Committee
under Rule 3.2 (Type of Award); 
 “Participant” means a person who holds an Award including his personal
representatives;  
 “Participating Company” means the Company or any Subsidiary of the Company;2 
 “Plan” means the Vedanta Resources Deferred Share Bonus Plan as amended
from time to time; 
 “Rule” means a rule of the Plan; 

“Shares” means fully paid ordinary shares in the capital of the Company; 

“Subsidiary” means a body corporate which is a subsidiary (within the meaning of section 1159 of the Companies Act 2006);3 
 “Tax Liability” means any amount of tax or social security
contributions (or their equivalent) for which a Participant would or may be liable and for which any Group Member or former Group Member would or may be obliged to (or would or may suffer a disadvantage if it were not to) account to any relevant
authority; 
  

	2	For these purposes “Subsidiary” means a subsidiary company that is under the control of the Company. Please see footnote 3 below for the definition of
“Subsidiary”. 

	3	In accordance with section 1159 of the CA 2006, a company is a “subsidiary” of another company if that company (a) holds a majority of the voting
rights in it, or (b) is a member of it and has the right to appoint or remove a majority of its board of directors, or (c) is a member of it and controls alone, pursuant to an agreement with other members, a majority of the voting rights
in it, or if it is a subsidiary of a company that is itself a subsidiary of that other company. 

  
 2 

 “Vest” means: 

 

	 	(a)	in relation to an Option; it (or a proportion of it) becoming exercisable; 

  

	 	(b)	in relation to a Conditional Award, a Participant becoming entitled to have Shares transferred to him (or his nominee) subject to the Rules; 

 

	 	(c)	in relation to a Forfeitable Shares Award, the restrictions imposed on the Forfeitable Shares under the Plan ceasing to apply 

and Vesting shall be construed accordingly; 

“Vesting Date” means the date or dates (as applicable) on which the Award, or a proportion of it, normally Vests as determined
by the Committee under Rule 3.2(c) (Type of Award and Vesting Date(s)) and “Vesting Dates” shall be construed accordingly; 

“Vested Shares” means those Shares in respect of which an Award Vests or where an Award Vests in part on more than one Vesting
Date, those Shares in respect of which the relevant proportion of the Award Vests. 
  

	1.2	Any reference in the Plan to any enactment includes a reference to that enactment as from time to time modified, extended or re-enacted. 

 

	1.3	Where the context admits, a reference to the singular includes the plural and a reference to the male includes the female. 

  

	1.4	Expressions in italics, headings and any footnotes are for guidance only and do not form part of the Plan. 

  

	1.5	Where an Award has been structured so as to Vest in part on more than one Vesting Date, references in these Rules to an “Award Vesting”, the “Date of Vesting”, or where an “Award Vests” or
similar shall be construed as meaning and referring to where the relevant proportion of the Award Vests. 

  

	2.	ELIGIBILITY 

 An individual is eligible to be granted an Award only if he is an employee
(including, for the avoidance of doubt, the executive Chairman and an executive director of the Company) of a Participating Company and the Committee has decided that part of his Bonus shall be deferred into an Award.4 
  

	4	Please note that Awards must only be granted to employees of the Company or to employees of a subsidiary company that is under the control of the Company i.e. where
Vedanta Resources plc holds a majority of the voting rights in that subsidiary. See footnotes 2 and 3 above. 

  
 3 

	3.	GRANT OF AWARDS 

  

	3.1	Terms of grant 

 Subject to Rule 3.5 (Timing of grant) and Rule 3.6 (Approvals
and consents), the Committee may resolve to grant an Award on: 
  

	 	(a)	the terms set out in the Plan; and 

  

	 	(b)	such additional terms5 as the Committee may specify 

to any person who is eligible to be granted an Award under Rule 2 (Eligibility). 

 

	3.2	Type of Award, Vesting Date(s) and Dividend Equivalent 

 On or before the Grant Date, the
Committee shall determine: 
  

	 	(a)	The proportion of a Bonus that shall be deferred under the Plan and where a bonus is made in a currency other than sterling, the amount to be deferred shall be treated as equal to the equivalent amount of sterling
determined by using any rate of exchange which the Committee may reasonably select6; 

  

	 	(b)	whether an Award shall be an Option, a Conditional Award or a Forfeitable Shares Award provided that if the Committee does not specify the type of an Award on or before the Grant Date then an Award shall be an Option;
and 

  

	 	(c)	the Vesting Date or Vesting Dates and where an Award is to Vest in part on different Vesting Dates the percentage of the Award that will Vest on each Vesting Date provided that if the Committee does not specify the
Vesting Dates and percentage of Award capable of Vesting on each date, then an Award shall Vest on the Vesting Dates and over the percentage of Shares set out in the table in this Rule 3.2 below. 

 

					
	 Vesting Date
	  	Percentage of Award that will
Vest on the Vesting Date	 
	 First anniversary of Grant Date
	  	 	40	% 
	 Second anniversary of Grant Date
	  	 	30	% 
	 Third anniversary of Grant Date
	  	 	30	% 

 The Committee may also determine at this time whether or not a Dividend Equivalent shall accrue and be paid on
an Award provided that if the Committee makes no such determination on or prior to the Grant Date it may still decide whether or not a Dividend Equivalent shall apply to an Award provided that such determination is made before that Award Vests, in
accordance with Rule 6.4 (Dividend Equivalent). 
  

	5	Please note that Awards should not be subject to additional performance conditions. 

	6	It is recommended that the rate of exchange is calculated by reference to the same days over which the ‘market value’ of a share is calculated under Rule
4.2 (Market Value of Shares). 

  
 4 

	3.3	Method of grant 

 An Award shall be granted as follows: 

 

	 	(a)	an Option or a Conditional Award shall be granted by deed executed by the Company; 

  

	 	(b)	a Forfeitable Shares Award shall be granted by the procedure set out in the appendix to the Plan. 

  

	3.4	Timing of grant 

 Subject to Rule 3.6 (Approvals and consents)7, an Award may be granted: 
  

	 	(a)	within the period of 6 weeks beginning with: 

  

	 	(i)	the dealing day after the date on which the Company announces its results for any period; or 

  

	 	(ii)	the date of payment of that part of a Bonus which has not been deferred; or 

  

	 	(iii)	the date that the Committee determines and approves the final value of a Bonus; or 

  

	 	(b)	at any other time when the Committee considers that circumstances are sufficiently exceptional to justify its grant. 

but an Award may not be granted after 12 May 2025 (that is, the expiry of the period of 10 years starting on the date on which the Plan is
approved and adopted by the Board). 
  

	3.5	Approvals and consents 

 The grant of any Award shall be subject to obtaining any
approval or consent required under the Listing Rules, any relevant share dealing code of the Company, the City Code on Takeovers and Mergers, or any other relevant UK or overseas regulation or enactment. 

 

	3.6	Non-transferability and bankruptcy 

 An Award
granted to any person: 
  

	 	(a)	shall not be transferred, assigned, charged or otherwise disposed of (except on his death to his personal representatives) and shall lapse immediately on any attempt to do so; and 

 

	 	(b)	shall, unless the Committee decides otherwise, lapse immediately if he is declared bankrupt. 

  

	7	Notwithstanding 3.4(a) and (b) below, no Award may be granted when the directors are prohibited from dealing in shares under the Model Code, the Company’s
share dealing code or otherwise. 

  
 5 

	4.	INDIVIDUAL LIMIT AND VALUE OF SHARES FOR AWARDS 

  

	4.1	Individual limit 

 The maximum total market value of shares (calculated as set out in
Rule 4.2 (Market Value of Shares) below) over which an Award may be granted to any employee may not exceed 100% of the total value of the relevant Bonus, which is to be deferred under the Plan as determined by the Committee
under Rule 3.2(a). 
 For the purposes of calculating the total number of Shares over which an Award is granted, the Committee shall divide
the value of Bonus to be deferred under the Plan as determined by the Committee under Rule 3.2(a) by the market value of a share, as determined by the Committee under Rule 4.2 below. 

 

	4.2	Market Value of Shares 

 The market value of a Share over which an Award is to be granted
shall be determined by the Committee, in its discretion, acting fairly and reasonably being an amount equal to either the closing middle-market quotation of a Share (as derived from the London Stock Exchange Daily Official List) on a dealing day, or
the average of the closing middle market quotations of such Shares during a period determined by the Committee not exceeding the period of 5 dealing days, either: 
  

	 	(a)	ending on the dealing day immediately before: 

  

	 	(i)	the Grant Date; or 

  

	 	(ii)	the date that the Committee determines the Bonus to which the Award relates; or 

  

	 	(iii)	the date of payment of the relevant Bonus; or 

  

	 	(b)	starting immediately following the date of announcement of the first set of results of the Company following the end of the relevant Bonus performance period; or 

 

	 	(c)	in respect of an Award to be granted to an eligible employee who is not a director of the Company, ending on or starting immediately after any date determined by the Committee, in its discretion 

provided such dealing day(s) do not fall within any period when dealings in Shares are prohibited under the Company’s share dealing code.

  

	5.	VESTING OF AWARDS 

  

	5.1	Timing of Vesting 

 Subject to Rule 5.3 (Restrictions on Vesting: regulatory and tax
issues), an Award or such percentage of an Award as specified by the Committee under Rule 3.2(b) (Type of Award and Vesting Date(s)) shall Vest on the Vesting Date applicable to that Award or, where there is more than one
Vesting Date, percentage of an Award except where earlier Vesting occurs under Rule 10 (Leavers) or Rule 11 (Takeovers and other corporate events). 

  
 6 

	5.2	Extent of Vesting 

 An Award shall only Vest to the extent that any term imposed on the
Vesting of the Award and operation of Clawback permits. 
  

	5.3	Restrictions on Vesting: regulatory and tax issues 

 An Award shall not Vest unless and
until the following conditions are satisfied: 
  

	 	(a)	the Vesting of the Award and the transfer of Shares after such Vesting would be lawful in the relevant jurisdictions for that Award and in compliance with the Listing Rules, any relevant share dealing code of the
Company, the City Code on Takeovers and Mergers and any other relevant UK or overseas regulation or enactment; 

  

	 	(b)	if, on the Vesting of the Award, a Tax Liability would arise by virtue of such Vesting and the Board decides that such Tax Liability shall not be satisfied by the sale of Shares pursuant to Rule 5.5 (Payment of Tax
Liability) then the Participant must have entered into arrangements acceptable to the Board that the relevant Group Member will receive the amount of such Tax Liability; 

 

	 	(c)	the Participant has entered into such arrangements as the Committee requires (and where permitted in the relevant jurisdiction) to satisfy a Group Member’s liability to social security contributions in respect of
the Vesting of the Award; and 

  

	 	(d)	where the Committee requires, the Participant has entered into, or agreed to enter into, a valid election under Part 7 of ITEPA (Employment income: elections to disapply tax charge on restricted
securities) or any similar arrangement in any overseas jurisdiction. 

 For the purposes of this Rule 5.3,
references to Group Member include any former Group Member. 
  

	5.4	Tax liability before Vesting 

 If a Participant will, or is likely to, incur any Tax
Liability before the Vesting of an Award then that Participant must enter into arrangements acceptable to any relevant Group Member to ensure that it receives the amount of such Tax Liability. If no such arrangement is made then the Participant
shall be deemed to have authorised the Company to sell or procure the sale of sufficient of the Shares subject to his Award on his behalf to ensure that the relevant Group Member receives the amount required to discharge the Tax Liability and the
number of Shares subject to his Award shall be reduced accordingly. 
 For the purposes of this Rule 5.4, references to Group Member include
any former Group Member. 
  

	5.5	Payment of Tax Liability 

 The Participant authorises the Company to sell or procure the
sale of sufficient Vested Shares on or following the Vesting of his Award on his behalf to ensure that any relevant Group Member or former Group Member receives the amount required to discharge any Tax Liability which arises on Vesting except to the
extent that the Board decides that all or part of that Tax Liability shall be funded in a different manner. 

  
 7 

	6.	CONSEQUENCES OF VESTING 

  

	6.1	Options 

 An Option shall, subject to Rule 7.1 (Restrictions on the exercise of an
Option: regulatory and tax issues), be exercisable in respect of Vested Shares during the period commencing on the date on which the Option Vests and ending on the day before the tenth anniversary of the Grant Date (or such other
shorter period as the Committee shall determine on or before the Grant Date) subject to it lapsing earlier under Rules 10.1 to 10.4 (Leavers) or Rules 11.1 to 11.3 (Corporate events). 

 

	6.2	Conditional Awards 

 On or as soon as reasonably practicable after the Vesting of a
Conditional Award, the Board shall, subject to Rule 5.5 (Payment of Tax Liability) and any arrangement made under Rules 5.3 (b) and 5.3(c) (Restrictions on Vesting: regulatory and tax issues), procure the transfer of the Vested Shares
to the Participant (or a nominee for him). 
 Conditional Awards shall only be satisfied with existing Shares other than treasury Shares.

 No unissued Shares shall be used to satisfy Conditional Awards. 
  

	6.3	Forfeitable Shares Award 

 On the Vesting of a Forfeitable Shares Award, the Vested
Shares shall cease to be subject to the restrictions imposed on the Forfeitable Shares under the Plan and the Board shall, subject to Rule 5.5 (Payment of Tax Liability) and any arrangement made under Rules 5.3(b) and 5.3(c) (Restrictions
on Vesting: regulatory and tax issues), transfer or procure the transfer of: 
  

	 	(a)	the legal title to the Vested Shares; and/or 

  

	 	(b)	any documents of title relating to the Vested Shares 

 to the Participant (or a nominee for him)
on or as soon as reasonably practicable after Vesting. 
  

	6.4	Dividend equivalent 

 The Committee may decide on or at any time before the Vesting of an
Award that a Participant (or his nominee) shall be entitled to cash and/or Shares (as determined by the Committee) of a value determined by reference to the dividends that would have been paid on the Vested Shares in respect of dividend record dates
occurring during the period between the Grant Date (or, if the Committee determines, a deemed Grant Date)8 and the The Committee, acting fairly and reasonably, may decide to exclude the value of
all or part of a special dividend or any other dividend from the amount of the Dividend Equivalent. 
  

	8	The Committee should only use a deemed Grant Date where the grant of awards has been delayed, for example, in relation to awards relating to the Financial Year ended
31 March 2015. Where a deemed Grant Date is used it should not be earlier than the date on which a bonus was paid or fall in a prohibited period (i.e. when the Company is prohibited from granting awards), furthermore the deemed Grant Date
should (to the extent possible) be the day on which awards would have been granted were it not for the fact that the grant was delayed; accordingly, for awards granted in respect of performance over the year ended 31 March 2015, it is proposed
that a deemed Grant Date of 22 May 2015. date of Vesting. The Committee shall decide the basis on which the value of such dividends shall be calculated which may assume the reinvestment of dividends. 

  
 8 

 The provision of the Dividend Equivalent to the Participant shall be made as soon as practicable
after the transfer of Vested Shares following the Vesting of a Conditional Award or the exercise of an Option and: 
  

	 	(a)	in the case of a cash payment, shall be subject to such deductions (on account of tax or similar liabilities) as may be required by law or as the Board may reasonably consider to be necessary or desirable;

  

	 	(b)	in the case of a provision of Shares, Rule 5.3 (Restrictions on Vesting: regulatory and tax issues) shall apply as if such provision was the Vesting of an Award. 

 

	6.5	Satisfying Vested Awards 

 An Award may only be satisfied by the transfer of existing
Shares (other than the transfer of Treasury Shares). 
  

	7.	EXERCISE OF OPTIONS 

  

	7.1	Restrictions on the exercise of an Option: regulatory and tax issues 

 An Option which
has Vested may not be exercised unless the following conditions are satisfied: 
  

	 	(a)	the exercise of the Option and the issue or transfer of Shares after such exercise would be lawful in all relevant jurisdictions and in compliance with the Listing Rules, any relevant share dealing code of the Company,
the City Code on Takeovers and Mergers and any other relevant UK or overseas regulation or enactment; 

  

	 	(b)	if, on the exercise of the Option, a Tax Liability would arise by virtue of such exercise and the Board decides that such Tax Liability shall not be satisfied by the sale of Shares pursuant to Rule 7.4 (Payment of
Tax Liability) then the Participant must have entered into arrangements acceptable to the Board that the relevant Group Member shall receive the amount of such Tax Liability; 

 

	 	(c)	the Participant has entered into such arrangements as the Committee requires (and where permitted in the relevant jurisdiction) to satisfy a Group Member’s liability to social security contributions in respect of
the exercise of the Option; and 

  

	 	(d)	where the Committee requires, the Participant has entered into, or agreed to enter into, a valid election under Part 7 of ITEPA (Employment income: elections to disapply tax charge on restricted
securities) or any similar arrangement in any overseas jurisdiction. 

  
 9 

 For the purposes of this Rule 7.1, references to Group Member include any former Group Member.

  

	7.2	Exercise in whole or part 

 An Option may be exercised in full or in multiples of 1000
Shares, or such other multiple permitted by the Committee or the Board, unless it is being exercised to the full extent outstanding. 
  

	7.3	Method of exercise 

 The exercise of any Option shall be effected in the form and manner
prescribed by the Board. Unless the Board, acting fairly and reasonably determines otherwise, any notice of exercise shall, subject to Rule 7.1 (Restrictions on the exercise of an Option: regulatory and tax issues), take effect only
when the Company receives it. 
  

	7.4	Payment of Tax Liability 

 The Participant authorises the Company to sell or procure the
sale of sufficient Vested Shares on or following the exercise of his Option on his behalf to ensure that any relevant Group Member receives the amount required to discharge any Tax Liability which arises on such exercise except to the extent that
the Board decides that all or part of the Tax Liability shall be funded in a different manner. 
  

	7.5	Transfer timetable 

 As soon as reasonably practicable after an Option has been
exercised, the Company shall, subject to Rule 7.4 (Payment of Tax Liability) and any arrangement made under Rules 7.1(b) and 7.1(c) (Restrictions on exercise: regulatory and tax issues), transfer or procure the transfer to him (or a
nominee for him) the number of Shares in respect of which the Option has been exercised. 
 Awards may only be satisfied with existing Shares
(other than treasury Shares). No unissued Shares shall be used to satisfy Awards. 
  

	7.6	Lapse of Options 

 An Option (or, where the Option Vests in part on more than one Vesting
Date, the relevant part of an Option) which has become exercisable shall lapse at the end of the Exercise Period to the extent it has not been exercised unless it lapses earlier under Rule 10 (Leavers) or Rule 11 (Takeovers and other
corporate events). 
  

	8.	CASH ALTERNATIVE 

  

	8.1	Committee determination 

 Where an Option has been exercised or where a Conditional Award
Vests and Vested Shares have not yet been transferred to the Participant (or his nominee), the Committee may determine that, in substitution for his right to acquire such number of Vested Shares as the Committee may decide (but in full and final
satisfaction of that right to acquire those Shares), he shall be paid by way of additional employment income a sum equal to the cash equivalent (as defined in Rule 8.3) of that number of Shares in accordance with the following provisions of this
Rule 8. 

  
 10 

	8.2	Limitation on the use of this Rule 

 Rule 8.1 shall not apply in relation to an Award
made to a Participant in any jurisdiction where the presence of Rule 8.1 would cause: 
  

	 	(a)	the grant of the Award to be unlawful or for it to fall outside any applicable securities law exclusion or exemption; or 

  

	 	(b)	adverse tax or social security contribution consequences for the Participant or any Group Member as determined by the Board. 

  

	8.3	Cash equivalent 

 For the purpose of this Rule 8, the cash equivalent of a Share is: 

 

	 	(a)	in the case of a Conditional Award the market value of a Share on the day when the Award Vests; and 

  

	 	(b)	in the case of an Option, the market value of a Share on a day when the Option is exercised. 

Market value on any day shall be determined as follows: 
  

	 	(c)	if on the day of Vesting or exercise, Shares are quoted in the London Stock Exchange Daily Official List, the middle-market quotation of a Share, as derived from that List, on that day; or 

 

	 	(d)	if Shares are not so quoted, such value of a Share as the Committee reasonably determines. 

  

	8.4	Payment of cash equivalent 

 As soon as reasonably practicable after the Committee has
determined under Rule 8.1 that a Participant shall be paid a sum in substitution for his right to acquire any number of Vested Shares the Company shall pay to him or procure the payment to him of that sum in cash. 

 

	8.5	Deductions 

 There shall be deducted from any payment under this Rule 8 such amounts (on
account of tax or similar liabilities) as may be required by law or as the Board may reasonably consider to be necessary or desirable. 

  
 11 

	9.	LAPSE OF AWARDS  

 An Award shall lapse: 

 

	 	(a)	in accordance with the Rules; or 

  

	 	(b)	to the extent it ceases to be capable of Vesting under these Rules. 

 On the lapse of all or any
part of a Forfeitable Shares Award, the beneficial interest (and, if appropriate, the legal interest) in the Forfeitable Shares in respect of which such Award has lapsed shall be transferred for no (or nominal) consideration to any person specified
by the Board. 
  

	10.	LEAVERS 

  

	10.1	Good leavers before a Vesting Date 

 If a Participant ceases to be a director or an
employee of a Group Member before the 
 Vesting Date by reason of: 
  

	 	(a)	death; 

  

	 	(b)	retirement with the agreement of the Committee; 

  

	 	(c)	injury or disability evidenced to the satisfaction of the Committee; 

  

	 	(d)	redundancy (within the meaning of the Employment Rights Act 1996) or any overseas equivalent; 

  

	 	(e)	his office or employment being with either a company which ceases to be a Group Member or relating to a business or part of a business which is transferred to a person who is not a Group Member; or 

 

	 	(f)	for any other reason, if the Committee so decides then, 

  

	 	(i)	subject to Rule 5.3 (Restrictions on Vesting: regulatory and tax issues) and the Participant’s agreement to be bound by any other additional terms and conditions that the Committee may, in its discretion,
impose on the Award, his Award shall Vest on the date of cessation; unless 

  

	 	(ii)	the Committee decides that, subject to Rule 5.3 (Restrictions on Vesting: regulatory and tax issues), Rule 10.6 (Death following cessation of employment), Rule 11 (Takeovers and other corporate
events) and the Participant’s agreement to be bound by any other additional terms and conditions that the Committee may, in its discretion, impose on the Award, his Award shall Vest on the Normal Vesting Date.9 

 An Award in the form of an Option which Vests under this Rule may, subject
to Rule 7.1 (Restrictions on exercise) and Rule 11 (Takeovers and other corporate events), be exercised in respect of the Vested Shares within the period of 6 months (12 months in the case of death) commencing on the date of Vesting
(or, if shorter, until the expiry of the Exercise Period) and, to the extent that the Option is not exercised, it shall lapse at the end of that period. 
  

	9	For example, the Committee may determine that a Participant must retain the Vested Shares (less any sold for tax) until the original Vesting Date(s).

  
 12 

	10.2	Expiry of fixed term contracts of employment before a Vesting Date 

 If a Participant
ceases to be a director or an employee of a Group Member before the Vesting Date by reason of his fixed term employment contract expiring at the end of the fixed term and not being renewed, and the Participant has not ceased to be a director or
employee for one of the reasons under Rule 10.1(a) to (e) inclusive above, the Committee may, in its absolute discretion, decide to treat that Participant as though he had ceased to be a director or employee for one of the ‘good
leaver’ reasons specified under Rule 10.1(Good leavers before a Vesting Date). 
 If the Committee determines under this Rule
10.2 to treat a Participant whose fixed term contract has expired as though they were a good leaver under Rule 10.1 then, 
  

	 	(a)	subject to Rule 5.3 (Restrictions on Vesting: regulatory and tax issues) and the Participant’s agreement to be bound by any other additional terms and conditions that the Committee may, in its discretion,
impose on the Award, his Award shall Vest on the date of cessation; unless 

  

	 	(b)	the Committee decides that, subject to Rule 5.3 (Restrictions on Vesting: regulatory and tax issues), Rule 10.6 (Death following cessation of employment), Rule 11 (Takeovers and other
corporate events) and the Participant’s agreement to be bound by any other additional terms and conditions that the Committee may, in its discretion, impose on the Award, his Award shall Vest on the Normal Vesting Date. 

 

	10.3	Good leavers after a Vesting Date 

 If a Participant who holds an Option ceases to be a
director or an employee of a Group Member on or after a Vesting Date for a reason specified in Rule 10.1 or for a reason permitted under Rule 10.2 then, subject to Rule 7.1 ( Restrictions on exercise) and Rule 11 (Takeovers and other
corporate events), that Option shall continue to be exercisable for a period of 6 months (12 months in the case of death) commencing on the date of cessation (or, if shorter, until the expiry of the Exercise Period) and, to the extent that the
Option is not exercised, it shall lapse at the end of that period. 
  

	10.4	Cessation of employment in other circumstances 

 If a Participant ceases to be a director
or an employee of a Group Member for any reason other than those specified in Rule 10.1 (Good leavers) or for a reason permitted under Rule 10.2 then any Award (including any Vested but unexercised Options) held by him shall lapse immediately
on such cessation. 
  

	10.5	Meaning of ceasing employment 

 A Participant shall not be treated for the purposes of
this Rule 10 as ceasing to be a director or employee of a Group Member until such time as he is no longer a director or employee of any Group Member. If any Participant ceases to be such a director or employee before the Vesting of his Award in
circumstances where he retains a statutory right to return to work then he shall be treated as not having ceased to be such a director or employee until such time (if at all) as he ceases to have such a right to return to work while not acting as an
employee or director. 

  
 13 

 The reason for the termination of office or employment of a Participant shall be determined by
reference to Rules 10.1, 10.2 and 10.4 regardless of whether such termination was lawful or unlawful. 
  

	11.	TAKEOVERS AND OTHER CORPORATE EVENTS 

  

	11.1	General offers 

 In the event that any person (or group of persons acting in concert):

  

	 	(a)	obtains Control of the Company as a result of making a general offer to acquire Shares; or 

  

	 	(b)	having obtained Control of the Company makes such an offer and such offer becomes unconditional in all respects; or 

  

	 	(c)	who has Control of the Company makes a general offer to acquire all of the Shares not already held by the person who has Control of the Company and such offer becomes unconditional in all respects 

the following provisions shall apply: 
  

	 	(i)	subject to Rule 5.3 (Restrictions on Vesting: regulatory and tax issues) and Rule 11.4 (Internal reorganisations), all Awards shall Vest on the date of such event to the extent they have not Vested; and

  

	 	(ii)	any Option may, subject to Rule 7.1 (Restrictions on exercise), be exercised within one month of the date of such event (or, if shorter, until the expiry of the Exercise Period), but to the extent that an Option
is not exercised within that period, that Option shall (regardless of any other provision of the Plan) lapse at the end of that period. 

  

	11.2	Schemes of arrangement and winding up 

 In the event that: 

 

	 	(a)	a compromise or arrangement is sanctioned by the Court under section 899 of the Companies Act 2006 in connection with or for the purposes of a change in Control of the Company; or 

 

	 	(b)	any person (or group of persons acting in concert) who has Control of the Company proposes a compromise or arrangement described in Rule 11.2(a) to acquire all the Shares that such person or persons do not already own
and such compromise or arrangement is sanctioned by the Court under section 899 of the Companies Act 2006; or 

  
 14 

	 	(c)	the Company passes a resolution for a voluntary winding up of the Company; or 

  

	 	(d)	an order is made for the compulsory winding up of the Company 

 all Awards shall, subject to
Rule 5.3 (Restrictions on Vesting: regulatory and tax issues) and Rule 11.4 (Internal reorganisations), Vest on the date of such event if they have not then Vested. 

If an event as described in this Rule occurs then an Option may, subject to Rule 7.1 (Restrictions on exercise) and Rule 11.4
(Internal reorganisations), be exercised within one month of such event (or, if shorter, until the expiry of the Exercise Period), but to the extent that the Option is not exercised within that period, it shall (regardless of any other
provision of the Plan) lapse at the end of that period. 
  

	11.3	Demergers and similar events 

 If a demerger, special dividend or other similar event
(the “Relevant Event”) is proposed which, in the opinion of the Committee, would affect the market price of Shares to a material extent, then the Committee may, at its discretion, decide that the following provisions shall apply:

  

	 	(a)	the Committee shall, as soon as reasonably practicable after deciding to apply these provisions, notify a Participant that, subject to earlier lapse under Rule 10 (Leavers), his Award Vests and, if relevant, his
Option may, subject to Rule 7.6 (Lapse of Options) and Rule 10 (Leavers), be exercised on such terms as the Committee may determine and during such period preceding the Relevant Event or on the Relevant Event as the Committee may
determine and shall (regardless of any other provision of the Plan) lapse at the end of that period to the extent unexercised; 

  

	 	(b)	if an Award Vests, or an Option is exercised, conditional upon the Relevant Event and such event does not occur then the conditional Vesting or exercise shall not be effective and the Award shall continue to subsist.

  

	11.4	Internal reorganisations 

 In the event that: 

 

	 	(a)	a company (the “Acquiring Company”) is expected to obtain Control of the Company as a result of an offer referred to in Rule 11.1 (General offers) or a compromise or arrangement referred to in
Rule 11.2 (a) (Schemes of arrangement and winding up); and 

  

	 	(b)	the Committee, acting fairly and reasonably, considers that, in its opinion, the change of Control is an internal reconstruction or reorganisation under which the ultimate Control of the Company is expected to be held
by, in the reasonable opinion of the Committee, substantially the same person(s) who immediately before the obtaining of Control of the Company were shareholders in the Company 

then the Committee, with the consent of the Acquiring Company, may decide before the obtaining of such Control that an Award shall not Vest
under Rule 11.1 or Rule 11.2 but shall be automatically surrendered in consideration for the grant of a new award which the Committee determines is equivalent to the Award it replaces except that it will be over shares in the Acquiring Company or
some other company. 

  
 15 

 The Rules will apply to any new award granted under this Rule 11.4 as if references to Shares
were references to shares over which the new award is granted and references to the Company were references to the company whose shares are subject to the new award. 
  

	12.	ADJUSTMENT OF AWARDS  

 In the event of: 

 

	 	(a)	any variation of the share capital of the Company; or 

  

	 	(b)	a demerger, special dividend or other similar event which affects the market price of Shares to a material extent 

then the Committee may make such adjustments as it considers appropriate to the number of Shares comprised in an Award. 

 

	13.	CLAWBACK 

  

	13.1	Applicability of Clawback 

 This Rule 13 shall apply to all Awards unless and until the
Company is subject to an event described in Rules 11.1 or 11.2 (Takeovers and other corporate events) and Awards are not exchanged for new awards under Rule 11.4 (Internal reorganisations). 

 

	13.2	Clawback 

 The Committee may decide at any time within three years of the grant of an
Award that the individual (the “relevant individual”) to whom the Award was granted (the “relevant Award”), shall be subject to Clawback if it forms the view that: 

 

	 	(a)	the Company materially misstated its financial results for the financial year to which the relevant Award relates for whatever reason and that such misstatement resulted either directly or indirectly in that Award
having been granted over a higher number of Shares than would have been the case had that misstatement not been made; or 

  

	 	(b)	the size of the Bonus to which the relevant Award relates was based on any other kind of error or on the basis of any information or assumption that the Committee subsequently discovers to have been inaccurate or
misleading for any reason and which resulted either directly or indirectly in the Award having been granted over a higher number of Shares than would otherwise have been the case. 

Any reduction of an Award pursuant to this Rule 13.2 shall take effect immediately prior to the Award Vesting unless the Committee decides it
shall take effect at such earlier time as it decides. 

  
 16 

	13.3	Amount to be subject to Clawback 

 The Committee shall decide on the amount to be
subject to Clawback which shall be all or part of the additional value which the Committee considers has been granted to, Vested and/or received by the relevant individual as referred to in Rule 13.2 and in deciding on such amount, the Committee
may: 
  

	 	(a)	determine the amount of such additional value on such basis as it decides including, without limitation, as to the time of assessment of the value which constitutes such additional value; and 

 

	 	(b)	if the relevant individual is required to repay all or part of such additional value pursuant to Rule 13.4(b) then the Committee may consider whether that amount should take into account any income tax and national
insurance contributions paid by the relevant individual and any possibility of him reclaiming such income tax and national insurance contributions. 

  

	13.4	Satisfaction of the Clawback 

 The Clawback shall be satisfied as set out in Rules
13.4(a) and/or 13.4(b). 
  

	 	(a)	The Committee may reduce (including, if appropriate, reducing to zero) any of the following elements of the remuneration of the relevant individual: 

 

	 	(i)	the number of Shares subject to the relevant Award; and/or 

  

	 	(ii)	the amount of any future bonus which would, but for the operation of the Clawback, be payable to the relevant individual under any bonus plan operated by any Group Member; and/or 

 

	 	(iii)	the extent to which any rights to acquire Shares granted to the relevant individual under any share incentive plan (other than the Plan, any other deferred bonus plan not approved by the Company’s shareholders and
any tax-advantaged share plan that meets the requirements of Schedules 2, 3 or 4 of ITEPA) operated by any Group Member vest or become exercisable notwithstanding the extent to which any conditions imposed on
such rights to acquire Shares have been satisfied; and/or 

  

	 	(iv)	the number of Shares subject to any vested but unexercised right to acquire Shares granted to the relevant individual under any share incentive plan (other than the Plan, any deferred bonus plan not approved by the
Company’s shareholders and any tax-advantaged share plan that meets the requirements of Schedules 2, 3 or 4 of ITEPA) operated by any Group Member. 

 

	 	(b)	The Committee may require the relevant individual to pay to such Group Member as the Committee may direct, and on such terms as the Committee may direct (including, but without limitation to, on terms that the relevant
amount is to be deducted from the relevant individual’s salary or from any other payment to be made to the relevant individual by any Group Member), such amount as is required for the Clawback to be satisfied in full. 

  
 17 

	13.5	Reduction in Awards to give effect to clawback provisions in linked bonus plan 

The Committee may decide at any time to reduce the number of Shares subject to an Award (including, if appropriate, reducing to zero) to give
effect to a clawback provision of any form contained in the terms of the Bonus to which the Award relates. The value of the reduction shall be in accordance with the clawback provision in the Bonus terms or, in the absence of any relevant term, on
such basis as the Committee, acting fairly and reasonably, decides is appropriate. 
  

	14.	ALTERATIONS 

  

	14.1	General rule on alterations 

 Except as described in Rule 14.2 (Alterations to
disadvantage of Participants), the Committee may at any time alter the Plan or the terms of any Award. 
  

	14.2	Alterations to disadvantage of Participants 

 No alteration to the material disadvantage
of Participants shall be made under Rule 14.1 unless: 
  

	 	(a)	the Board shall have invited every relevant Participant to indicate whether or not he approves the alteration; and 

  

	 	(b)	the alteration is approved by a majority of those Participants who have given such an indication. 

  

	15.	MISCELLANEOUS 

  

	15.1	Employment 

 The rights and obligations of any individual under the terms of his office
or employment with any Group Member shall not be affected by his participation in the Plan or any right which he may have to participate in it. An individual who participates in the Plan waives any and all rights to compensation or damages in
consequence of the termination of his office or employment for any reason whatsoever insofar as those rights arise or may arise from him ceasing to have rights under an Award as a result of such termination. Participation in the Plan shall not
confer a right to continued employment upon any individual who participates in it. The grant of any Award does not imply that any further Award will be granted nor that a Participant has any right to receive any further Award. 

 

	15.2	Disputes 

 In the event of any dispute or disagreement as to the interpretation of the
Plan, or as to any question or right arising from or relating to the Plan, the decision of the Committee shall be final and binding upon all persons. 

  
 18 

	15.3	Exercise of powers and discretions 

 The exercise of any power or discretion by the
Committee shall not be open to question by any person and a Participant or former Participant shall have no rights in relation to the exercise or omission to exercise any such power or discretion. 

 

	15.4	Share rights 

 Where Vested Shares are transferred to Participants (or their nominee) or,
in the case of Forfeitable Shares, released from their restrictions under the Plan, Participants (or their nominee) shall be entitled to all rights attaching to such Shares by reference to a record date on or after the date of such transfer or
release of such restrictions. 
  

	15.5	Notices 

 Any notice or other communication under or in connection with the Plan may be
given: 
  

	 	(a)	by personal delivery or by internal or ordinary post, in the case of a company to the company secretary at its registered office or to such other address as may from time to time be notified to an individual, and in the
case of an individual to his last known address, or, where he is a director or employee of a Group Member, either to his last known address or to the address of the place of business at which he performs the whole or substantially the whole of the
duties of his office or employment; 

  

	 	(b)	in an electronic communication to their usual business address or such other address for the time being notified for that purpose to the person giving the notice; or 

 

	 	(c)	by such other method as the Board determines. 

 Where a notice or document is sent to an
eligible employee or Participant by ordinary or internal post, it shall be treated as being received 72 hours after it was put into the post properly addressed and, where relevant, stamped. In all other cases, the notice or document shall be treated
as received when it is given. A notice or document sent to the Company shall only be effective once it is received by the Company, unless otherwise agreed by the Company. All notices and documents given or sent to the Company shall be given or sent
at the risk of the sender. 
  

	15.6	Third parties 

 No third party has any rights under the Contracts (Rights of Third
Parties) Act 1999 to enforce any term of the Plan. 
  

	15.7	Benefits not pensionable 

 Benefits provided under the Plan shall not be pensionable.

  
 19 

	15.8	Data Protection 

 Each Participant consents to the collection, processing and transfer of
his personal data for any purpose relating to the operation of the Plan. This includes: 
  

	 	(a)	providing personal data to any Group Member and any third party such as trustees of any employee benefit trust, administrators of the Plan, registrars, brokers and any of their respective agents; 

 

	 	(b)	processing of personal data by any such Group Member or third party; 

  

	 	(c)	transferring personal data to a country outside the European Economic Area (including a country which does not have data protection laws equivalent to those prevailing in the European Economic Area); and

  

	 	(d)	providing personal data to potential purchasers of the Company, the Participant’s employer or the business in which the Participant works. 

 

	15.9	Governing law 

 The Plan and all Awards shall be governed by and construed in accordance
with the law of England and Wales and the Courts of England and Wales have exclusive jurisdiction to hear any dispute. 

  
 20 

 APPENDIX 

GRANT OF A FORFEITABLE SHARES AWARD 
 On
or before the grant of a Forfeitable Shares Award, each employee selected for such an Award must enter into an agreement with the Company under the terms of which the employee agrees both in respect of the Shares comprised in the Award at the Grant
Date and any additional Shares that may become subject to the Award under Rule 3.4 (Treatment of Dividends): 
  

	(a)	to have full beneficial ownership of the Shares; 

  

	(b)	unless the Committee decides otherwise, to waive his right to all cash and scrip dividends on his Forfeitable Shares until Vesting; 

  

	(c)	that he will not assign, transfer, charge or otherwise dispose of any Forfeitable Shares or any interest in such Forfeitable Shares until Vesting save as otherwise required by the Rules; 

 

	(d)	if required by the Committee, to enter into any elections under Part 7 of ITEPA and any election to transfer, or any agreement to pay, secondary Class 1 National Insurance contributions in relation to his
Forfeitable Shares; and 

  

	(e)	to sign any documentation to give effect to the terms of the Forfeitable Shares Award. 

 The date of such
agreement shall be the Grant Date of the Forfeitable Shares Award. 
 On the Grant Date (or as soon as practicable after the payment date of the relevant
dividend in the case of additional Shares that are to become subject to the Forfeitable Shares Award under Rule 3.4) either the legal ownership of the Forfeitable Shares shall be held on the Participant’s behalf by a nominee as chosen from time
to time by the Committee or the Participant shall deposit the share certificate (or any other document of title) relating to the Forfeitable Shares together with a signed but otherwise uncompleted instrument of transfer with such person as the
Committee may from time to time decide. 
 Only existing shares which are not treasury Shares may be used for Forfeitable Shares Awards. No unissued shares
may be used for Forfeitable Shares Awards. 

  
 21EX-4.7

 Exhibit 4.7 

Vedanta Limited Share Plan: Employee Stock Option Scheme (ESOS) 2016 

Employee Stock Option Scheme 2016 is a conditional share plan for rewarding performance on pre-determined performance criteria and continued employment with
the Company1. The pre-determined performance criteria shall focus on rewarding employees for company performance vis-à-vis competition and also for
achievement of internal operational metrics. This document highlights the proposed scheme structure along with salient features of the plan for the consideration of Senior Management of Vedanta Ltd. 

 

	 	a.	Vesting: The number of options granted shall have both performance based and tenure based vesting component. The performance period for performance based option (TSR) will be a maximum of 36 months from the date
of approval of the scheme i.e., 28th Oct 2016 to 27th Oct 2019 and the performance period for tenure based option shall be 36 months from the date of grant i.e., 15th Dec 2016 to 15th Dec 2019. 

 However, the overall vesting basis TSR & Tenure will
be on completion of 36 months from the date of grant i.e., 15th Dec 2019. However, for an employee to be eligible for performance – based vesting, he/she should continue to be in employment
as on the date of vesting i.e., 15th Dec 2019. 
 The percentage of performance and tenure based grant shall vary by the management level.
The proposed bifurcation is as under: 
  

									
	 	  	Vedanta Limited Plan	 
	 Grade
	  	Performance
(Basis TSR)	 	 	Tenure
(3 Years)	 
	 EXCO
	  	 	100	% 	 	 	0	% 
	 Business Exco
	  	 	100	% 	 	 	0	% 
	 Non Ex Co - P, M1,M2
	  	 	80	% 	 	 	20	% 
	 M3-M7
	  	 	60	% 	 	 	40	% 

 The number of shares required and the cost estimates are presented in the table below. Note that these numbers assume full
vesting: 
  

			
	 Share Usage and Cost
	  	Details
	 Total # of Vedanta Ltd. Shares Required for First Cycle
	  	80,00,000
	 Current Paid – Up Shares
	  	2,965,004,871
	 % of Current Paid up # of Shares
	  	0.25%
	 Total Employee Covered
	  	1116

  

	2.	Performance Condition 

 Performance conditions as proposed for the scheme: 

Relative Total Shareholder Return (RTSR): It is proposed to have the Group’s relative Total Shareholder Return (“TSR”)
performance against the peer group of resource companies and continued employment with the Group as conditions of performance 
  

 

 The vesting of ESOS options will be dependent on the Company’s performance - measured in terms of Total
Shareholder Return (‘TSR’) (being the movement in a company’s share price plus reinvested dividends), compared over the performance period with the performance of the companies in Comparator basket given below. 

The extent to which an award vests will depend on the Company’s TSR performance against a group of peer companies (“Comparator Group”) at the
end of the performance period defined above. 
 In the event of de-listing of a particular comparator company during the performance measurement period, the
remuneration committee holds the right to either introduce a new company to the comparator group or modify the payout matrix based on ranking. 

Comparators Basket : 
  

													
	 	  	ZINC
(2)	  	Oil & Gas
(2)	  	Aluminium
(2)	  	Copper
(2)	  	Iron Ore
(2)	  	Diversified
(5)
	 Global Group – 15 Companies
	  	Bolliden	  	CNOOC
Limited	  	Alcoa	  	First Quantum	  	Vale	  	BHP Billiton
							
		  	Korean Zinc Inc	  	Santos	  	Rusal	  	Antofagasta	  	Fortescue	  	Anglo American
							
		  		  		  		  		  		  	South32
							
		  		  		  		  		  		  	Glencore Xstrata
							
		  		  		  		  		  		  	Rio Tinto
							
	 Indian Group – 6 Companies
	  	Hindalco	  	Tata Steel	  	JSW	  	Adani Power	  	Reliance
 Industries
	  	ONGC

  

	3.	Weighting % for Vesting 

 Vesting shall be contingent on relative TSR performance
against two peer groups: 
  

			
	 Comparator Group
	  	Vedanta Limited
	 Global Group
	  	60%
	 Indian Group
	  	40%
	 Performance Indicator
	  	Relative TSR Performance

 The number of Performance Shares vesting basis this performance measure will depend on the ranking of Vedanta
Ltd. vis-à-vis aforementioned comparator groups. In the event of de-listing of a particular comparator company during the performance measurement period, the remuneration committee holds the right to either introduce a new company to the
comparator group or modify the payout matrix based on ranking. 

  

			
	LTIP Scheme / Vedanta Limited	  	2

 
 Global Group : 
  

			
	 Rank
	  	 % of Shares That

Vest

	 1 to 2
	  	100%
	 3
	  	90%
	 4
	  	75%
	 5
	  	60%
	 6-7
	  	45%
	 8
	  	30% (Median)
	 9 to 16
	  	0%

 

 Indian Group : 
  

			
	Rank	  	 % of Shares That

Vest

	 1
	  	100%
	 2
	  	75%
	 3
	  	50%
	 4
	  	30% (Median)
	 5 - 7
	  	0%

 
 

  

	4.	Exercise Price: The exercise payable by employee shall be face value of the share i.e. INR 1.00. 

  

	5.	Exercise Period: Employees shall have 6 months to exercise the vested Performance Shares. Any Performance Shares that are not exercised within this period shall lapse and be available for future grants

  

	6.	Administration: It is proposed that the scheme is managed through an ESOP trust in India. The trust shall be funded by the company to purchase shares from the secondary market. A summary of SEBI
Guidelines on Trust has been presented in Annexure 1 of this document. The scheme shall be administered through a third party appointed by the Company (i.e., ESOP Direct) 

 

	7.	Employee Selection: The selection of plan participants shall be done basis employee grade, function, performance, potential (similar to current process using a 9 box grid) and any other criteria which in
the view of NRC should be considered in determining the grant size for an employee. 

  

	8.	Accounting: Accounting of the plan will be as per SEBI Share Based Employee Regulations, 2014. Under IND-AS, the accounting shall be done on fair value basis. Expensing will be done on a fair-value basis.

  

	9.	Termination Provisions: Treatment of unvested and vested but unexercised options is summarized below: 

  

					
	 	  	 Unvested
	  	 Vested but Unexercised

	Death	  	Vest in full	  	Full term to exercise
	Disability	  	Vest in full	  	Full term to exercise
	Retirement	  	Vest on prorated basis.	  	Full term to exercise
	Resignation	  	Forfeited	  	Forfeited
	Termination for Cause	  	Forfeited	  	Forfeited
	Change in Control	  	To be decided by NRC	  	To be decided by NRC
	Leaver Policy	  	Policy of Good Leaver / Bad Leaver will be applicable in the event of death, disability, retirement, resignation, transfer etc.

  

			
	LTIP Scheme / Vedanta Limited	  	3

 Annexure 1: 
  

	•	 	Trust and Trustees: Any person who is a director, key managerial personnel (KMP) or promoter of the company or its holding, subsidiary or associate company or any relative of such director, KMP or promoter or
anyone who beneficially holds 10% or more of the paid-up share capital of the company cannot be appointed as a trustee. 

  

	 	•	 	In case individuals or “one person companies” as defined under the Companies Act – 2013 are appointed as trustees, there shall be minimum of two such trustees 

 

	 	•	 	In case a corporate entity is appointed as trustee, it may be a sole trustee 

  

	 	•	 	Trustees of the trust which is governed under these regulations shall not vote in respect of shares held by such trust 

  

	 	•	 	Trustees to ensure appropriate approvals are taken to implement scheme(s) and undertake secondary market acquisition for the purpose of such scheme(s) 

 

	 	•	 	Trust shall not deal in derivatives and shall undertake delivery based transactions for the purpose of secondary acquisition as permitted by these regulations 

 

	 	•	 	Company can lend money to the trust on appropriate terms and conditions to acquire the shares either through fresh issue or secondary market acquisition for the purpose of implementation of scheme(s) subject to
requirements of Companies Act, 2013 read with Companies (Share Capital and Debenture) Rules, 2014, as amended from time to time 

  

	 	•	 	Shareholding of trust shall be shown as “Non-Promoter and Non-Public” shareholding. Shares held by the trust shall not form part of public holdings which needs to be maintained at minimum of 25%
as prescribed under Securities Contracts (Regulations) Rules, 1957 

  

	 	•	 	Secondary acquisition in a financial year by the trust shall not exceed 2% (two percent) of the paid up equity capital as at the end of previous financial year 

 

	 	•	 	The total number of shares under secondary market acquisition held by the trust shall at no time exceed the following limits as a percentage of the paid up equity capital as at the end of the financial year immediately
prior to the year in which the shareholder approval is obtained for such secondary acquisition: 

  

					
	 Particulars
	  	Limit	 
	 Employee Stock Option Scheme (ESOS) + Employee Stock Purchase Scheme + Stock Appreciation Rights
Scheme (SARS)
	  	 	5	% 
	 General Employee Benefit Scheme (GEBS) or Retirement Benefit Scheme (RBS)
	  	 	2	% 
	For all the schemes in aggregate	  	 	5	% 

  

	 	•	 	The above limits shall automatically include within their ambit the expanded capital of the company where such expansion has taken place on account of any corporate action including issue of bonus shares, split or right
issues 

  

	 	•	 	In case the company has multiple trusts/schemes, the above limits are applicable for all trusts and schemes taken together at company level and not at the level of individual trust or scheme 

 

	 	•	 	The above limits are not applicable where shares are allotted to the trust by way of new issue or gift from promoter or promoter group or other shareholders 

 

	 	•	 	In the event of options, shares, SAR granted under any of the schemes exceeds the number of shares that the trust may acquire through secondary acquisition, then such shortfall of shares shall be made up by the company
through new issue of shares in accordance with the provisions of new issue of shares under applicable laws 

  

			
	LTIP Scheme / Vedanta Limited	  	4

	 	•	 	The un-appropriated inventory of shares which are not backed by grants, acquired through secondary acquisition by the trust under ESOS, ESPS, SAR, GEBS and RBS, shall be appropriated within a reasonable period which
shall not extend beyond the end of the subsequent financial year. If trust(s) existing as on the date of notification of these regulations are not able to appropriate the un-appropriated inventory within one year from such notification, the same
shall be disclosed to the stock exchange(s) at the end of such period and then the same shall be sold on the recognized stock exchange(s) where shares of the company are listed, within a period of 5 (Five) Years from the date of notification
of these regulations 

  

	 	•	 	The trust shall be required to hold the shares acquired through secondary acquisition for a minimum period of six months except where they are required to be transferred under following circumstances: 

 

	 	•	 	Participating in open offer under SEBI (Substantial Acquisition if Shares and Takeovers), Regulations, 2011, or 

  

	 	•	 	When participating in buy-back, delisting or any other exit offered by the company generally to its shareholders 

  

	 	•	 	Trust shall be permitted to undertake off-market transfer of shares only under following: 

  

	 	•	 	Transfer to employees pursuant to scheme(s) 

  

	 	•	 	Participating in open offer under SEBI (Substantial Acquisition if Shares and Takeovers), Regulations, 2011, or 

  

	 	•	 	When participating in buy-back, delisting or any other exit offered by the company generally to its shareholders 

  

	 	•	 	The trust shall not become a mechanism for trading in shares and hence shall not sell the shares in secondary market except under following circumstances: 

 

	 	•	 	Cashless exercise under ESOS 

  

	 	•	 	Vesting or exercise as the case may be of SAR 

  

	 	•	 	In case of emergency for implementing the schemes under GEBS and RBS and for this purpose: 

  

	 	•	 	The trustee shall record the reasons for such sale 

  

	 	•	 	Money so realized on sale of shares shall be utilized within a definite time period as stipulated under the scheme or trust deed 

  

	 	•	 	Participation in buy-back or open offers or delisting offers or any other exit offered by the company generally to its shareholders, if required 

 

	 	•	 	For repaying the loan, if the up-appropriated inventory of shares held by the trust is not appropriated within the timeline as discussed above 

 

	 	•	 	Winding up of the scheme(s) 

  

	 	•	 	Based on approval granted by SEBI to an applicant, for the reasons recorded in writing in respect of the schemes covered by ESOS, ESPS, SAR, GEBS and RBS, upon payment of a non-refundable fee of INR 100,000 (Rupees one
lakh) along with the application by way of a banker’s cheque or demand draft payable at Mumbai in favor of the Board 

The trust shall be required to make disclosures and comply with the other requirements applicable to insiders or promoters under the SEBI
(Prohibition of Insider Trading) Regulations, 1992 or any modification or re-enactment thereto. 

  

			
	LTIP Scheme / Vedanta Limited	  	5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}]]