|
|
|
|
Document Preview Share Option Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Share Option Agreement |
|||
|
Entities: |
||||
|
Date: |
2002 |
|||
|
Size: |
Preview shows 7KB of 25KB total |
|||
|
Price: |
$33 |
|||
|
ID: |
#365245 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
SHARE OPTION AGREEMENT
(Section 102 to the Income Tax Ordinance)
Made and entered as of the ___ day of ______, 2001
By and between
NUR Macroprinters Ltd.
(previously, NUR Advanced Technologies Ltd.)
ID # 52-003986-8, of
12 Abbba Hilel Silver, LOD
(the "Company")
of the first part
and
Mr./Ms.___________________
ID # _________, of
___________ St.
(the "Optionee")
of the second part
PREAMBLE
Whereas The Company has adopted it's______ Stock Option Plan, as amended,
a copy of which is attached hereto as Appendix A (the "Plan"); and
Whereas The Company has determined that the Optionee be granted under the
Plan options exercisable into Ordinary Shares NIS1.0 par value of
the Company ("Shares"); and
Whereas the Optionee has elected to have options, in a number as set forth
in Appendix B, granted to him under the 102 Plan, as defined in
the Plan, all subject to the terms and conditions hereinafter
provided (the "Options").
NOW, THEREFORE, it is agreed as follows:
1. Interpretation
1.1 The Preamble and the Appendices to this Agreement constitute an
integral part hereof.
1.2 Unless otherwise defined herein, capitalized terms used herein shall
have the meaning ascribed to them in the Plan.
2. Grant of Option
{PAGE}
2.1 The Company hereby grants the Optionee the Options exercisable into up
to the number of Shares as set forth in Appendix B (the "Option
Shares") against payment of an exercise price per Share as set forth in
such Appendix B (the "Exercise Price"), on the terms and subject to the
conditions hereinafter provided.
The Exercise Price will be paid in NIS, in accordance with the
representative rate of exchange of the U.S. dollar published by the
Bank of Israel and known on the date of giving the notice of exercise
(as set forth in Section 5.1 hereinafter).
2.2 The Optionee is aware that the Company intends to issue additional
Shares or other securities convertible into Shares, in the future to
various entities and individuals, as the Company in its sole discretion
shall determine.
3. Period of Option and Conditions for Exercise
3.1 The term of this Agreement shall commence on the date hereof (the "Date
of Grant") and terminate at the Expiration Date (as defined in Section
6 below), or at the time at which the Option is completely terminated
pursuant to the terms of the Plan or pursuant to this Agreement.
3.2 The Options may be exercised by the Optionee in whole at any time or in
part from time to time, as determined by the Board of Directors of the
Company (the "Board"), and to the extent that the Options become vested
and exercisable, prior to the Expiration Date, and provided that,
subject to the provisions of Section 3.4 below, the Optionee is an
employee of the Company or any of its subsidiaries, at all times during
the period beginning with the granting of the Option and ending upon
the date of exercise.
3.3 Subject to the provisions of Section 3.4 below, in the event of
termination of the Optionee's employment with the Company or any of its
subsidiaries, all Options granted to him will immediately be expired. A
notice of termination of employment by either the Company or the
Optionee shall be deemed to constitute termination of employment.
3.4 Notwithstanding anything to the contrary hereinabove, an Option may be
exercised within an additional period after the date of termination of
Optionee's employment with the Company or any subsidiary of the
Company, but only with respect to the number of Options already vested
at the time of such termination, as set forth in Section 4 below, and
provided such period shall not exceed the period during which the
Options by their terms would otherwise have been exercisable, if: (i)
prior to the date of such termination, the Board shall authorize an
extension of the terms of all or part of the Options beyond the date of
such termination, (ii) termination is without Cause (as defined below),
in which event any Options still in force and unexpired may be
exercised within a period of three (3) months from the date of such
termination, but only with respect to the number of Option Shares
purchasable at the time of such termination, according to the vesting
periods of the Options, (iii) termination is the result of death or
disability of the Optionee, in which event the vested Options may be
exercised within a period of 12 (twelve) months from the date of
termination. The term "Cause" shall mean any action, omission or state
of affairs related to the Optionee, which the Board or the Board
decides, in its sole discretion, is against the interests of the
Company.
3.5 The Options may be exercised only to purchase whole Shares, and in no
case may a fraction of a Share be purchased. If any fractional Shares
would be deliverable upon exercise, such fraction shall be rounded up
one-half or more, or otherwise rounded down, to the nearest whole
number.
4. Vesting
Subject to the requirements as to the number of Option Shares for which
|
End of Preview |
Home Intelligence Services Subscriptions News About Us