Give the disclosures that required to be made in the explanatory statement annexed to the notice for special resolution to be passed by shareholders of a company for approving scheme of Employee Stock Option.

Disclosures in Explanatory Statement annexed to notice for passing of the resolution for approving scheme of Employee Stock Option Following are the disclosures in the explanatory statement annexed to the notice for passing of the resolution: The total number of stock options to be granted; Identification of classes of employees entitled to participate in the ESOP; The appraisal process for determining the eligibility of employees to the ESOP; The requirements of vesting and period of vesting; The maximum period within which the options shall be vested; The exercise price or the formula for arriving at the same; The exercise period and process of exercise; The Lock-in period, if any; The maximum number of options to be granted per employee and in aggregate. The method which the company shall use to value its options; The conditions under which option vested in employees may lapse e.g. in case of termination of employment for misconduct; The specified time period within which the employee shall exercise the vested options in the event of a proposed termination of employment or resignation of employee; and a statement to the effect that the company shall comply with the applicable accounting standards.