Company can offer shares through employee stock option to their employees through special resolution. Employee means: a. A permanent employee of the company who has been working in India or outside India; or b. A director of the company, whether a whole time director or not but excluding an independent director; or c. An employee as defined in clauses (a) or (b) of a subsidiary, in India or outside India, or of a holding company of the company or of an associate company.
3- 45 days
1. Preparation of notice, agenda and minutes of the Board and General meetings approving the ESOP Scheme. 2. Preparation of separate Special Resolution, if the scheme extends its scope to subsidiaries. 3. Advise on fixing of Exercise price, Grant date, Vesting period and Exercise date. 4. Assistance in issue of communication of grant of stock options. 5. Assistance on exercise of options - opening of demat account etc. 6. Preparation, certification and filing of Form MGT 14 and PAS 3. 7. Advise on post allotment compliance. 8. Drafting of ESOP Report for the Directors' Report.
1. For preparation of ESOP Scheme: a. Remuneration policy of the company. b. Details of permanent and temporary employees of the company. c. Details of employees of subsidiary companies, if the company wishes to extend the scheme to them. d. Historic data - Share price of the company. 2. Form MGT 14: a. Certified copy of the Special Resolution. b. Notice of the General Meeting containing salient features of the scheme or the scheme itself. 3. For drafting of documents relating to ESOP: a. List of option holders for drafting Grant letters. b. Dates of vesting and exercise fixed by the board - Application form for exercise of options. 4. Form PAS 3: a. Certified copy of the board resolution for allotment. b. List of allottees.