1. The present petition has been filed under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the ‘Act’) challenging the award dated 16.03.2015 passed by the Sole Arbitrator appointed by the Indian Council of Arbitration.

2. The disputes between the parties arise out of two agreements, the first one is Appointment & Employment Agreement (hereinafter referred to as the ‘Appointment Agreement’) dated 17.09.2008 and the second one being Stock Issuance Agreement (hereinafter referred to as the ‘SIA’) dated 01.12.2008.

3. The respondent was appointed as the President of Petitioner No.1 Company under Letter of Appointment & Employment dated 17.09.2008. The letter inter-alia provided as under:

“The terms and conditions of the said employment are annexed hereto and also in the accompanying Stock Issuance Agreement to be entered between you and our parent company Astonfield Renewable Resources Limited.”

It is important to note here that the so-called ‘Appointment Agreement’ was, in fact, an Annexure to this letter.

4. Clause 1.4 of the Appointment Agreement further provides that the respondent shall be eligible to participate in the Employee Stock Au