March 2004. An Option Agreement signed in the place provided at the end hereof should be delivered to the Secretary of the Company no later than fourteen days following delivery of this Option Agreement to you. Unless otherwise defined herein, capitalized terms used herein shall have the meaning ascribed to them in the Plan. The decision to grant you the Options has been made as an integral part of the Company's policy to employ and retain persons who are valuable to the Company and to its subsidiaries, to encourage the sense of proprietorship as well as to create an active interest in the development and financial success of the Company and its subsidiaries. The Options are Non Qualified Stock Options. The Options are granted pursuant to the Plan and are in all respects governed by the Plan and subject to all terms and conditions as detailed in the Plan. A copy of the Plan is attached hereto as Appendix A. This Option Agreement highlights certain elements of the Plan but in the event there is any inconsistency between the provisions of this agreement and the Plan, the provisions of the Plan shall prevail. Should you require any further assistance please do not hesitate to contact ▇▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇. The Number of Options --------------------- You are granted XXX Options to purchase up to XXX Shares. The Exercise Price ------------------
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Sources: Non Qualified Stock Option Agreement (Viryanet LTD)
March 2004. An Option Agreement signed in the place provided at the end hereof should be delivered to the Secretary of the Company no later than fourteen days following delivery of this Option Agreement to you. Unless otherwise defined herein, capitalized terms used herein shall have the meaning ascribed to them in the Plan. The decision to grant you the Options has been made as an integral part of the Company's policy to employ and retain persons who are valuable to the Company and to its subsidiaries, to encourage the sense of proprietorship as well as to create an active interest in the development and financial success of the Company and its subsidiaries. The Options are Non Qualified Stock Optionsintended (but not warranted) to be incentive stock options within the meaning of Section 422 of the U.S. Internal Revenue Code to the extent of the number of Shares first becoming exercisable by you each year having an aggregate fair market value at the date of grant not in excess of $100,000. The portion, if any, of the Options not constituting incentive stock options pursuant to the foregoing sentence shall be treated as nonqualified stock options. The Options are granted pursuant to the Plan and are in all respects governed by the Plan and subject to all terms and conditions as detailed in the Plan. A copy of the Plan is attached hereto as Appendix A. This Option Agreement highlights certain elements of the Plan but in the event there is any inconsistency between the provisions of this agreement and the Plan, the provisions of the Plan shall prevail. Should you require any further assistance please do not hesitate to contact ▇▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇. The Number of Options --------------------- You are granted XXX Options to purchase up to XXX Shares. The Exercise Price ------------------
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