Procedure

01
step


Hold a Board Meeting to consider and approve ESOP and formation of Compensation Committee.

02
step


Compensation committee shall plan draft the scheme of ESOP

03
step

Hold Board meeting to adopt the final scheme, appoint the Merchant banker and approve the notice of the General meeting for shareholders approval

04
step


Hold General Meeting for approval of shareholders

05
step


Make an application to the stock exchange for obtaining in-principal approval of the stock exchange

06
step


Issue of letter of grant of option to the eligible employees alongwith the letter of acceptance of option

07
step

On receipt of letter of acceptance of option alongwith upfront payment (if any), from the employee issue the option certificates

08
step

After expiry of vesting period,not less than one year the options shall vest in the employee. At that time, the Company shall issue a letter of vesting alongwith the letter of exercise of options

09
step


Receipt to letter of exercise from the employee

10
step

Hold a Board Meeting at the suitable Interval during the exercise period for allotment of shares on options exercised by the optioness

11
step

Dispatch of letter of allotment alongwith the share certificates or credit the shares so allotted with the Depositories

12
step


Make an application to the Stock exchange for listing of the Shares so allotted

13
step


Receipt of Listing of the shares from the Stock exchange

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