Test “ESOP Grant Letter (India)” with your own key

You are issuing an ESOP grant letter from an Indian private limited company to an employee. The ESOP scheme is already board-approved (refer to it as the Scheme).

## Inputs
- Company name: {{company_name}}
- ESOP scheme name + date of board approval: {{scheme_name}}
- Employee name + designation: {{employee_name}}, {{designation}}
- Number of options granted: {{options_granted}}
- Exercise price per option (₹): {{exercise_price}}
- Grant date: {{grant_date}}
- Vesting schedule: {{vesting}}
- Cliff (months): {{cliff_months}}
- Exercise window post-vesting (years): {{exercise_window_years}}
- Leaver treatment: {{leaver_treatment}}
- Authorised signatory: {{signatory_name}}, {{signatory_designation}}

## Output
A formal grant letter with these sections:
1. Letterhead (company name + CIN [placeholder]).
2. Date {{grant_date}}, addressed to {{employee_name}}.
3. Subject: "Grant of Stock Options under {{scheme_name}}".
4. Opening paragraph — confirm grant of {{options_granted}} options at ₹{{exercise_price}} exercise price, pursuant to the Scheme.
5. **Vesting Schedule** — {{vesting}}, with a {{cliff_months}}-month cliff from {{grant_date}}.
6. **Exercise** — options must be exercised within {{exercise_window_years}} years of vesting. Past this window, options lapse.
7. **Leaver Treatment** — {{leaver_treatment}}. Reference the Scheme for definitions of good leaver / bad leaver / change-of-control.
8. **Cashless Exercise** — only at the company's discretion; primary method is cash payment of {{exercise_price}}.
9. **Tax Footnote (India)** — at exercise, the difference between FMV and {{exercise_price}} is taxable as perquisite (salary income); the company will withhold TDS. At sale of shares, the further gain is capital gains (LTCG/STCG depending on holding from allotment). DPIIT-recognised startups have a 5-year tax deferral on exercise perquisite under Section 192(1C) — note applicability.
10. **Confidentiality** — terms of this grant are confidential.
11. **Acceptance** — employee to sign and return within 30 days.
12. **Governing Law** — Indian law; the Scheme prevails in case of conflict.

Close with signature block ({{signatory_name}}, {{signatory_designation}}) and an acceptance line for the employee.

No emoji. No hype around "wealth creation". Stick to facts.