Explain with reference to the provisions of the Companies Act, 2013 whether an independent director is entitled to: (iii) Employees stock option.

Section 149(9) clearly states that notwithstanding anything contained in any other provision of this Act, but subject to the provisions of sections 197 and 198, an independent director shall not be entitled to any stock option and may receive remuneration by way of fee provided under sub-section (5) of section 197 i.e. sitting fee for attending meetings, reimbursement of expenses for participation in the Board and other meetings and profit related commission as may be approved by the members. Therefore, an independent director is not entitled to Employees Stock Option (ESOP) .