Notice of Grant of Stock Option

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Notice of Grant of Stock Option

Notice of Grant of Stock Option

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Date: {{date}}

NOTICE OF GRANT OF STOCK OPTION

To: {{option_holder_name}}

Address: {{option_holder_address}}

1. Grant of Option

This Notice of Grant of Stock Option (the “Notice”) confirms that as of {{grant_date}} (the “Grant Date”), {{company_name}} (the “Company”) has granted to {{option_holder_name}} (the “Option Holder”) an option (the “Option”) to purchase {{number_of_shares}} ordinary shares of the Company (the “Shares”), subject to the terms and conditions set forth in this Notice and the Company’s Stock Option Plan (the “Plan”). A copy of the Plan is attached hereto as Annex A and incorporated herein by reference.

2. Option Price

The exercise price per Share (the “Option Price”) is {{exercise_price_per_share}} ({{currency}}). This Option Price is determined in accordance with the Plan and is not less than the fair market value of one Share on the Grant Date.

3. Vesting Schedule

The Option shall vest and become exercisable as follows:

Subject to the Option Holder's continuous service with the Company, {{vesting_percentage_initial}}% of the Shares subject to this Option shall vest on {{initial_vesting_date}}, and thereafter, an additional {{vesting_percentage_subsequent}}% of the Shares subject to this Option shall vest on each successive {{vesting_frequency}} until {{fully_vested_date}}, provided the Option Holder remains continuously employed or engaged by the Company.

In the event of a Change of Control (as defined in the Plan), any unvested portion of the Option may accelerate as per the terms of the Plan.

4. Expiration Date

This Option shall expire on {{expiration_date}} (the “Expiration Date”), unless sooner terminated in accordance with the terms of the Plan. No portion of the Option may be exercised after the Expiration Date.

5. Exercise of Option

The vested portion of the Option may be exercised by providing written notice to the Company, specifying the number of Shares to be purchased and accompanied by full payment of the Option Price. Payment can be made in cash, by cheque, by wire transfer, or by such other means as permitted by the Plan and approved by the Company’s Board of Directors.

6. Forfeiture and Transferability

Any unvested portion of the Option shall be forfeited immediately upon cessation of the Option Holder’s service with the Company for any reason. This Option is not transferable by the Option Holder other than by will or the laws of descent and distribution, and is exercisable during the Option Holder’s lifetime only by the Option Holder.

7. Governing Law

This Notice and the Option granted hereunder shall be governed by and construed in accordance with the laws of {{governing_law_jurisdiction}}.

8. Acceptance

By signing below, the Option Holder acknowledges receipt of this Notice and Annex A (the Plan), understands the terms and conditions contained herein and in the Plan, and agrees to be bound by all such terms and conditions.

_____________________________

{{company_name}}

By: _____________________________

Name: {{company_representative_name}}

Title: {{company_representative_title}}

Date: {{signature_date}}

_____________________________

Option Holder Signature

Name: {{option_holder_name}}

Date: {{signature_date}}