HTML Preview Independent Director Appointment Letter page number 1.
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LETTER OF APPOINTMENT
Date
Dear Mr./ Ms. ____________,
I am writing to confirm that the Board and the Members have approved your appointment
as an Independent Director on the Board of Directors of ________________________
(hereinafter referred to as ‘the Company’) for a period of five years with effect from
_________________ to ____________________. This letter of appointment sets out the terms
and conditions covering your appointment, which are as follows:
1. Appointment
1.1 You will be appointed as a Non-Executive Independent Director on the Board of
Directors of the Company with effect from _______________. Your appointment is
subject to the extant provisions of the Companies Act, 2013, as amended from time
to time.
1.2 The term “Independent Director” should be construed as defined under the
Companies Act, 2013 and the listing agreement.
1.3 The Company has adopted the provisions with respect to appointment and tenure
of Independent Directors as are consistent with the Companies Act, 2013 and the
listing agreement. The Company is at liberty to disengage a Non-Executive
Independent Director earlier subject to compliance of the relevant provisions of the
Companies Act, 2013 and the listing agreement.
1.4 As an Independent Director you are not liable to retire by rotation.
2. Committees
You are currently a member/ Chairman of the ___________ and the ____________
Committee, of the Company. The Board of Directors (the Board) may invite you for
being appointed on one or more of the existing Board Committees or any Committee(s)
that may be set up in the future. Your appointment on such Committee(s) will be
subject to the applicable legal requirements.
3. Time Commitment
3.1 As a Non-Executive Director Independent Director you are expected to bring
objectivity and independence to the Board’s discussions and help provide the Board
with effective leadership in relation to the Company’s strategy, performance, and risk
management, as well as ensuring high standards of financial probity and corporate