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Allotment Letter from Employee to Company applying for allotment of issuance of shares of the Company (usually after the satisfaction of certain conditions pursuant to the employment contract).
The letter is used by the employee to apply for subscription to the respective Company share.
It details that the subscription price of the shares in the scheme should be consistent with [subscription price] and should be paid in full to the [company].
This document should be carefully read by the Individual Employee and Company.
An Allotment Letter may be used when an employee wishes to apply for allotment of issuance of shares of the company they work for. Thus, applying to enter into an employee shares scheme.
Both parties should sign and return a copy, and once signed, both parties should get a copy. To avoid any future disputes, both parties may wish to have their signatures witnessed.
The Number of Shares, Par value currency, Par value share and Subscription Price should all be clearly stated in the Shares subscription.
If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.