ESOP GRANT AGREEMENT
This Agreement is made on [Date] between [Company Name], having its registered office at [Address] ("Company"), and [Employee Name], residing at [Address] ("Grantee").
- Grant. Pursuant to the Company's [Scheme Name] approved by the shareholders, the Company grants the Grantee [Number] stock options with effect from the grant date of [Effective Date].
- Exercise Price. The exercise price per option shall be Rs. [Amount], determined in accordance with the Scheme.
- Vesting Schedule. The options shall vest over [Number] years, subject to a minimum cliff of one year, as per the schedule: [Vesting Schedule].
- Continued Service. Vesting is conditional on the Grantee's continued employment on each vesting date.
- Exercise. Vested options may be exercised within [Number] days of vesting by paying the exercise price; on exercise, equity shares shall be allotted.
- Lapse. Unvested options shall lapse on cessation of employment; treatment of vested options shall be governed by the Scheme.
- Non-Transferable. The options are personal to the Grantee and cannot be transferred, pledged or assigned.
- Taxation. The Grantee shall bear all taxes, including perquisite tax and TDS, arising on exercise and sale.
- Scheme Governs. In case of conflict, the terms of the Scheme and applicable SEBI/Companies Act rules shall prevail.
- Governing Law & Jurisdiction. This Agreement is governed by Indian law and subject to the jurisdiction of the courts at [City].
- Dispute Resolution. Disputes shall be referred to arbitration seated at [City].
IN WITNESS WHEREOF, the parties have executed this Agreement on the date first written above.
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For [Company Name]
For [Company Name]
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[Employee Name]
[Employee Name]
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Witness 1
Witness 1
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Witness 2
Witness 2