This excerpt taken from the LUX 20-F filed Jun 28, 2006.
Eligibility. The Board shall determine, within the limits of the express provisions of the Plan and any Shareholder Action, those Key Employees to whom, and the time or times at which, Options shall be granted. Each Key Employee who has been selected by the Board to receive Options shall become a Participant in the Plan. Subject to the provisions of the Plan, all Shareholder Action and local law, the Board also shall determine the number of Ordinary Shares to be subject to each such Option, the duration of each Option, the exercise price under each Option, the time or times within which (during the
term of the Option) all or portions of each Option may be exercised, and any other terms and conditions of such Options. In making such determinations, the Board may take into account the nature of the services rendered by the Key Employee, his present and potential contributions to the success of the Company and its Subsidiaries, and such other factors as the Board, in its sole discretion, deems relevant.