Eligibility to participate in ESOS

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..... is a director nominated by an institution as its representative on the Board of Directors of the company (i) the contract/ agreement entered into between the institution nominating its employee as the director of a company and the director so appointed shall, inter-alia, specify the following: (a) whether options granted by the company under its ESOS can be accepted by the said employee i .....

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..... rticipate in the ESOS. 4.3 A director who either by himself or through his relative or through any body corporate, directly or indirectly holds more than 10% of the outstanding equity shares of the company shall not be eligible to participate in the ESOS. ********* [1] Inserted vide circular no. SEBI/CFD/DIL/ESOP/4/2008/04/08 dated August 4, 2008, w. e. f. August 4, 2008. - - sta .....

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