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For the two-zone cloudy annulus transmission model, assume a uniform stellar disc, an opaque planet below $R_p$, $0\le H_c\le H$, and constant total slant optical depth within each radial zone. Neglect scattered light entering the beam and the planet's own emission. A ray transmits the fraction $e^{-\tau }$, so each zone blocks its projected area multiplied by $1-e^{-\tau }$.

The opaque disc, cloudy annulus and clear annulus have areas $\pi R_p^2$, $\pi [(R_p+H_c{)}^2-R_p^2]$ and $\pi [(R_p+H{)}^2-(R_p+H_c{)}^2]$, respectively. Thus the exoplanet transmission spectrum, expressed as total transit depth, isHere ${\tau }_{\lambda ,c}$ means the total optical depth on rays assigned to the cloudy zone. If it denotes cloud extinction alone, its exponent must instead contain the sum of cloud and gas optical depths. For a geometrically thin exoplanet atmosphere, the two atmospheric prefactors become $2R_p{H}_c/R_s^2$ and $2R_p(H-H_c)/R_s^2$.

An opaque exoplanet cloud deck gives the simpler expressionThe exoplanet cloud deck raises the wavelength-independent occulting radius and suppresses the clear atmospheric contribution. If $H_c=H$, the spectrum is flat at $(R_p+H{)}^2/R_s^2$; if $H_c=0$, the ordinary annulus model for transmission spectroscopy is recovered. Stellar limb darkening and varying tangent-ray optical depth would require an intensity-weighted radial integral rather than this constant-depth model.