ESLT » Topics » Background

This excerpt taken from the ESLT 6-K filed Dec 7, 2006.


On November 13, 2006, the Audit Committee and the Board of Directors of Elbit Systems, respectively, approved the Elbit Systems Ltd. 2007 Stock Option Plan (the “Plan”), subject to shareholder approval. The Plan authorizes the issuance of up to a maximum of 2,500,000 of Elbit Systems’ ordinary shares, par value New Israeli Shekel (“NIS”) 1.0 per share (“Ordinary Shares”) as a result of the exercise of options under the Plan. Pursuant to the Plan, Elbit Systems may grant to key employees of Elbit Systems and its wholly-owned subsidiaries (“Eligible Employees”) up to 1,250,000 regular options (the “Regular Options”) and up to 1,250,000 options with a “cashless” exercise mechanism (the “Cashless Options”) (collectively, the “Options”), to purchase Elbit Systems’ Ordinary Shares.

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