Vodafone paid Rs 3.87 cr for Sarin's relocation to US

According to Vodafone’s annual report, for the year ended March 2009, Sarin received a renumeration of 1.42 million pounds (Rs 10.99 crore), which includes basis salary, cash incentives and other benefits.
The company stated that the benefits and other category in the renumeration “includes 5,00,000 pounds in respect of relocation for Arun Sarin.”
In the financial year 2009, Sarin collected 4,36,000 pounds in basic salary, 4,34,000 pounds in incentive schemes, 5,53,000 pounds in other benefits and awards, including the relocation fee of 500,000 pounds in 2009, the data available in the company’s annual report reveals.
Overall, Sarin’s pay package stood at 8.1 million pounds in the year to March 31. It included 6.1 million pounds in shares and dividend of 564,000 pounds.
The company also stated that Sarin had an contractual entitlement to 500,000 pounds in connection with his relocation to the US.
In the previous financial year 2008, the firm said Sarin had received 3.59 million pounds as renumeration from Vodafone.
Sarin, who stepped down from the board on July 29, 2008 and later retired from the business on February 28, 2009, was available for consultation during this seven months period, over which, he “received a nominal base salary of one pound and no bonus or new GLTI (Global Long Term Incentive Plan) grant in July 2008,” the company said.
However, incidentally, on retirement, his long-term incentive awards vested on a pro-rated basis (for both time and performance), the company further said.

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