Which of the following is a difference between employee share options and exchange-traded options?

Question 10 options:

a)	Exchange-traded options typically include a vesting period, whereas employee share options do not.

b)	Employee share options are offered on a no-charge basis to employees by the company that is the counterparty, whereas exchange-traded options have to be purchased from an independent counterparty.

c)	Employee share options can be traded on any exchange, whereas exchange-traded options cannot.

d)	Exchange-traded options provide the holder with the right to purchase shares in a company at a pre-established price for a specified period of time, whereas employee share options do not.