In the context of employee benefits in India, which of the following statements best describes the term "Employee Stock Option Plan (ESOP)"?

1
A retirement savings plan that provides employees with tax-deferred investment options.
2
A health insurance plan offering comprehensive coverage to employees and their families.
3
A benefit plan that offers employees the right to buy company shares at a predetermined price.
4
A flexible work arrangement allowing employees to choose their work hours.

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