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In these Terms, the following capitalized terms shall have the meanings set out below:
TermDefinition
PartiesThe Issuer and the Option Holder, collectively.
IssuerName of Issuer, registered with the trade register under number Chamber of Commerce number of Issuer.
Option HolderThe natural or legal person to whom Options have been granted under these Terms.
Underlying RightsDepository Receipts / Shares in the capital of for example, the Issuer.
Exercise PriceThe 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 DateThe date on which the Options are formally granted to the Option Holder.
Vesting PeriodThe period over which the Options become gradually exercisable, being for example, 4 years, starting from the Grant Date.
Vesting Cliff PeriodThe initial period during which no Options become exercisable, being for example, 1 year, starting from the Grant Date.
Vesting Cliff PercentageThe percentage of the total Options that become vested in one instance on the first day following the Vesting Cliff Period, being for example, 25%.