The Options Granted Clause Samples

The Options Granted. The Employee will be granted 3,000,000 options of the Company, pursuant to the provisions of the Company's option plan for Employees, officers, directors and consultants from 2005 (the "Option Plan") which will be vested as follows: 1.1. 1 000,000 options for the purchase of 1,000,000 shares of the Company of NIS 0.01 par value each ("Ordinary Shares"), which will vest over 4 years, 50% of the time based options will vest upon the expiration of two years following the date of allocation thereof and the remaining 50% will vest in portions of 6.25% in the end of each quarter during two additional years, and will be exercisable against the exercise price which will be equal to the average price of the Company's share on TASE during the thirty trading days which preceded the date of approval of the decision by the Company's board of directors.