Vesting period.

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....ng period. (1) There shall be a minimum vesting period of one year in case of ESOS: Provided that in case where options are granted by a company under an ESOS in lieu of options held by an employee ....

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....m vesting period of one year shall not be applicable and in such instances, the options shall vest in terms of sub-regulation (4) of regulation 9 of these regulations, on the date of the death or perm....