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Eligibility to participate in ESOS

: ESOS 4. : 4.1 An employee shall be eligible to participate in ESOS of the company. [1][Explanation: Where such employee 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, spec .....

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ion.] 4.2 An employee who is a promoter or belongs to the promoter group shall not be eligible to participate 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. SEB .....

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