ESOP Grant Letter (India)

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.