> ## Documentation Index
> Fetch the complete documentation index at: https://legal.belang.org/llms.txt
> Use this file to discover all available pages before exploring further.

# 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%`.  |