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John, a resident of USA has joined an Indian startup (an unlisted company) as a technical expert as a part of the founding team. In a short span of time, John has exhibited excellent skills and due to his personal labour, the company has earned a significant amount of profit within a short span of time. The startup in order of incentivise John to stay back with them, the founders have agreed to grant John ESOPs worth 6 % of the paid up capital of the company. Can a startup issue such shares to John?