Incredimail 2012 Annual Report Download - page 172

ISRAELI SHARE OPTION PLAN
For avoidance of any doubt, if termination of employment or service is for Cause, any outstanding unexercised Option
(whether vested or non-
vested), will immediately expire and terminate, and the Optionee shall not have any right in
connection to such outstanding Options.
10.5
Notwithstanding anything to the contrary hereinabove and unless otherwise determined in the Optionee
’
s Option Agreement,
an Option may be exercised after the date of termination of Optionee's employment or service with the Company or any
Affiliates during an additional period of time beyond the date of such termination, but only with respect to the number of
Vested Options at the time of such termination according to the Vesting Dates, if :
(i) termination is without Cause, in which event any Vested Option still in force and unexpired may be exercised within a
period of ninety (90) days after the date of such termination; or-
(
ii) termination is the result of death or disability of the Optionee, in which event any Vested Option still in force and
unexpired may be exercised within a period of twelve (12) months after the date of such termination; or -
(
iii) at any time, the Committee shall authorize an extension of the terms of all or part of the Vested Options beyond the date of
such termination for a period not to exceed the period during which the Options by their terms would otherwise have been
exercisable.
10.6
Notwithstanding the foregoing provisions of Section 10.3 to 10.5, unless determined otherwise by the Committee, and for the
avoidance of doubt, the transfer of an Optionee from the employ or service of the Company to the employ or service of an
Affiliate, or from the employ or service of an Affiliate to the employ or service of the Company or another Affiliate, shall not
be deemed a termination of employment or service for purposes hereof.
10.7
In the event of termination of employment or service of an Optionee of Unapproved 102 Option, than such Optionee shall be
required, as a condition to his right to exercise the option granted to him, to secure the due, timely and complete payment of
any tax duty imposed upon him (including in accordance with section 20 below), by the submission to the Company of any
security or guaranty approved, in advance, by the Board or the Committee.
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