Common use of Method of grant Clause in Contracts

Method of grant. Stock options shall be granted in any of the following methods as to be determined later by the board of directors of the Company (the “BOD”) pursuant to resolution of the BOD meeting dated March 14, 2003, approving the grant of stock options to the Grantee: (i) issuance of new shares; (ii) purchase and delivery of treasury shares; or (iii) payment of cash for the difference (between the exercise price of the stock option ad the market price of such shares, multiplied by the number of exercised options).

Method of grant. Stock options shall be granted in any of the following methods as to be determined later by the board of directors of the Company (the “BOD”) pursuant to resolution of the BOD extraordinary general meeting of shareholders dated March 14December 10, 20032004, approving the grant of stock options to the Grantee: (i) issuance of new shares; (ii) purchase and delivery of treasury shares; or (iii) payment of cash for the difference (between the exercise price of the stock option ad the market price of such shares, multiplied by the number of exercised options).