Annual Report cb smile - Jet Airways

Notice (contd.)
f) Ensure that the pricing strategy maintains the competitiveness of Jet Airways’ in the market place at all times.
g) Closely monitor competitors’ pricing activities, market trends, evaluate pricing recommendations, suggest pricing promotions
and devising creative pricing strategies for both domestic and international markets.
h) Oversee route network planning and re-structuring activities.
i) Recommend and approve new markets / routes on the basis of data available from the business intelligence unit.
j) Evaluate under-performing markets with a time frame to improve or prepare for exit.
k) Oversee the Scheduling unit to ensure fleet rationalization and optimum fleet utilization.
l) Promote the image of the Company by continuously liaising and interacting with travel bodies, institutions, corporate
bodies and influential opinion makers.
m) Recruit, select, develop and motivate key executive team members and put in place a succession plan.
n) Serve on planning and policy-making committees.
Location:
In view of the global nature of the work, Mrs. Goyal will be located at the Company’s office at London, U. K.
Notice Period:
The contract of employment may be terminated by giving three months’ notice in writing by the Company or Mrs. Goyal.
Salary, Perquisites and Benefits:
a) Basic Salary of Rs.1,38,72,000 (Rupees One Crore Thirty Eight Lakhs Seventy Two Thousand only) per annum equivalent
to £204,000 (Pounds Sterling Two Hundred and Four Thousand only) per annum in the scale of £204,000 – £293,760
or such Rupee amount equivalent to the Pounds Sterling payable according to the then applicable exchange rate with
authority to the Board of Directors of the Company to give an annual increment not exceeding 20% of the immediately
previously drawn Basic Salary.
b) Mrs. Goyal will also be entitled to perquisites and benefits, the monetary value of which will be subject to a ceiling of
25% of the Basic Salary.
c) Mrs. Goyal will also be entitled to retirement benefits subject to a ceiling of 5% of the Basic Salary.
Since Mrs. Goyal has the requisite expertise and experience for the position, the Board of Directors recommends Resolution
No. 5 for your approval.
None of the Directors of the Company, except Mr. Naresh Goyal, is in any way concerned or interested in the Resolution.
Item No. 6
At the Extraordinary General Meeting held on 24th September, 2009, the Members had accorded their approval for raising
capital through a Qualified Institutions Placement (QIP) / Global Depositary Receipts (GDRs) / American Depository Receipts
(ADRs) / Foreign Currency Convertible Bonds (FCCBs) / other Securities up to an amount not exceeding US$ 400 Million
(United States Dollars Four Hundred Million) in the course of one or more domestic and / or international offering(s). The
proceeds of the offering(s) were to be utilized to capitalize the Company adequately besides meeting the working requirements
of the Company.
However, due to the uncertain market conditions it has not been possible to implement this proposal.
According to the provisions of Chapter VIII of the Securities and Exchange Board of India (SEBI) (Issue of Capital and
Disclosure Requirements) Regulations, 2009, the Special Resolution passed by the Members for approving the proposal is
valid for a period of twelve months from the date of passing the Special Resolution. Therefore, the Special Resolution passed
at the Extraordinary General Meeting held on 24 th September, 2009, is due to expire on 23 rd September, 2010. Since the
Company proposes to raise capital, an enabling Resolution is being proposed to give adequate flexibility and discretion to the
Board of Directors to finalise the terms of the issue, subject to compliance with all applicable laws, rules, regulations,
guidelines and approvals.
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