Annual Report cb smile - Jet Airways

Corporate Governance Report (contd.)
iii. Meetings and attendance during the financial year 2009-10
During the financial year 2009-10, two Meetings of the Remuneration and Compensation Committee were held
viz. on 17th August, 2009 and 25th January, 2010. All the Members and the Company Secretary were present at the
Meetings.
The Minutes of the Remuneration and Compensation Committee Meetings are noted at the subsequent Board
Meetings.
The Chairman of the Remuneration and Compensation Committee, Mr. Aman Mehta, was present at the Seventeenth
Annual General Meeting held on 17th August, 2009.
iv. Remuneration Policy
1. For the Non-executive Directors
The Non-executive Directors are paid remuneration by way of Sitting Fees and Commission.
Sitting Fees
The Non-executive Directors are entitled to Sitting Fees of Rs.20,000 for each Board / Committee Meeting
attended. The aforesaid Sitting Fees is within the limits prescribed under the Companies Act, 1956.
Commission
Due to the loss made by the Company for the year ended 31st March, 2010, no Commission is payable to the
Non-executive Directors for the financial year 2009-10.
Details of remuneration paid to Non-executive Directors for the financial year 2009-10
(Rs.)
Name Sitting Fees Commission
Payable
Total
Mr. Naresh Goyal 1,00,000 Nil 1,00,000
Mr. Ali Ghandour 1,60,000 Nil 1,60,000
Mr. Victoriano P. Dungca 2,20,000 Nil 2,20,000
Mr. Javed Akhtar 2,60,000 Nil 2,60,000
Mr. I. M. Kadri 1,60,000 Nil 1,60,000
Mr. Aman Mehta 2,60,000 Nil 2,60,000
Mr. Yash Raj Chopra 2,20,000 Nil 2,20,000
Mr. Charles A. Adams* Nil Nil Nil
Dr. Pierre J. Jeanniot ** 20,000 Nil 20,000
Mr. Shah Rukh Khan*** Nil Nil Nil
*Ceased to be a Director with effect from 7 th July, 2009
**Ceased to be a Director with effect from 21 st July, 2009
***Ceased to be a Director with effect from 17 th August, 2009
None of the Non-executive Directors has any other pecuniary interest in the Company.
2. For the Executive Director
The Remuneration and Compensation Committee recommends the remuneration of the Executive Director, subject
to the approval of the Members and Central Government, if required.
At the 16 th Annual General Meeting held on 29 th September, 2008, the Members had, subject to the approval of the
Central Government, approved the re-appointment of Mr. Saroj K. Datta for a period of three years with effect from
30 th September, 2008, on a revised remuneration. The approval of the Central Government was received vide letters
No.SRN/A45958436/3/2009 CL.VII dated 22 nd June, 2009, 17 th July, 2009, 31 st August, 2009, 29 th January, 2010
and 22 nd March, 2010.
30