UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
As previously reported, due to the uncertainty caused by the COVID-19 pandemic, in May 2020 the Compensation Committee (the “Compensation Committee”) of the Board of Directors (the “Board”) of ExlService Holdings, Inc. (the “Company”) temporarily reduced the base salaries of certain of the Company’s employees, including its named executive officers, and the Board temporarily reduced the cash retainers for the Company’s non-employee directors, in each case, for a period of six months (i.e. until October 31, 2020) subject to adjustment or reversal by the Committee or the Board, as applicable. Effective September 1, 2020, the Compensation Committee has approved the restoration of base salaries to their pre-reduction levels; and the Board has approved the restoration of non-employee director cash retainers to their pre-reduction levels. The restoration of base salaries and director cash retainers take effect two months earlier than originally expected.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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EXLSERVICE HOLDINGS, INC. (Registrant) | ||
| Date: August 21, 2020 | By: | /s/ Ajay Ayyappan |
| Name: | Ajay Ayyappan | |
| Title: | General Counsel and Corporate Secretary | |