Procedures

01
step


Hold a Board Meeting to consider ESOP Formation of compensation committee

02
step


Hold General Meeting to pass Ordinary resolution to approve the scheme.

03
step

On receipt of letter of acceptance of option alongwith upfront payment,from the employee, issue the option certificates

04
step

After expiry of vesting period, 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

05
step


Receipt of letter of exercise from employee during the exercise period

06
step

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

07
step


Dispatch of letter of allotment alongwith share certificates

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