Infosys Technologies shareholders passed a special resolution approving the company's new employee stock option plan (ESOP). Under the new plan, 3.3 m equity shares (Rs 10 each) will be allotted to company employees.
The resolution passed at Infosys' 18th AGM further states that the shares could be allotted to employees of an Indian subsidiary or a foreign one, including executives, and non-executive directors but excluding promoter directors.
Each option granted to eligible employees shall entitle the employee to 1 equity share for nominal value of Rs 10 each at a fair market price to be determined by the directors or by the compensation committee to be appointed for this purpose subject to SEBI guidelines in regard to pricing of options.
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