Outcome of Remuneration & Compensation Committee Meeting

Hexaware Technologies Ltd has informed BSE that the Remuneration & Compensation Committee of the Board at its meeting held on January 10, 2011 have considered and approved the exercise of 89,500 options by employees under the Employee Stock Option Scheme 2002 and 2007.

The Committee also considered and approved the grant of 6,65,000 options under Employee Stock Option Scheme 2007 at a price of Rs. 118.50, the closing price on the National Stock Exchange recording the highest volume of trade on the day before the date of the Committee Meeting i. e. closing price on January 07, 2011 on the National Stock Exchange which was Rs.118.50. These options are convertible into equivalent number of equity shares of the company with equal vesting over four years @ 25% at the end of each year and first vesting at the end of first year as per the scheme. The options shall be exercised over a period of 7 years from the date of grant.