Non transferability of option

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Full Text of the Document

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....m the option is granted shall be entitled to exercise the option. (b) Under the cashless system of exercise, the company may itself fund or permit the empanelled stock brokers to fund the payment of exercise price which shall be adjusted against the sale proceeds of some or all the shares, subject to the provision of the Companies Act. 11.3 The option granted to the employee shall not be ple....