Definitions

In these Terms, the following capitalized terms shall have the meanings set out below:

Term	Definition
Parties	The Issuer and the Option Holder, collectively.
Issuer	`Name of Issuer`, registered with the trade register under number `Chamber of Commerce number of Issuer`.
Option Holder	The natural or legal person to whom Options have been granted under these Terms.
Underlying Rights	`Depository Receipts / Shares` in the capital of `for example, the Issuer`.
Exercise Price	The price payable by the Option Holder to the Issuer per Underlying Right upon exercising the Options. This price is agreed upon at the time of grant.
Option(s)	The right to acquire Underlying Rights under the conditions set out in these Terms, against payment of the Exercise Price.
Grant Date	The date on which the Options are formally granted to the Option Holder.
Vesting Period	The period over which the Options become gradually exercisable, being `for example, 4 years`, starting from the Grant Date.
Vesting Cliff Period	The initial period during which no Options become exercisable, being `for example, 1 year`, starting from the Grant Date.
Vesting Cliff Percentage	The percentage of the total Options that become vested in one instance on the first day following the Vesting Cliff Period, being `for example, 25%`.