Board resolution for grant of employee stock options under Companies Act, 2013 with ESOP compliance, governance and allotment clauses.
“RESOLVED THAT pursuant to the provisions of Section 62(1)(b) and other applicable provisions, if any, of the Companies Act, 2013 read with Rule 12 of the Companies (Share Capital and Debentures) Rules, 2014 and subject to the approval of the shareholders and such other approvals as may be required, consent of the Board be and is hereby accorded to grant stock options to eligible employees of the Company under the Employee Stock Option Scheme (“ESOP Scheme”) on such terms and conditions as may be determined in accordance with the approved scheme.
RESOLVED FURTHER THAT the stock options granted shall entitle eligible employees to subscribe to or acquire Equity Shares of the Company upon vesting and exercise of such options in accordance with the provisions of the ESOP Scheme and applicable law.
RESOLVED FURTHER THAT any Director and/or Company Secretary and/or Chief Financial Officer of the Company be and are hereby severally authorised to take all necessary actions, execute documents and do all such acts, deeds and things as may be necessary for giving effect to this resolution.”