Company: INCR
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-007971
Chunk: 131

Company: Intercure Ltd.
Filing Date: 2025-05-01
Form: 20-F
Item: Item 6
Chunk 131
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 indemnification, the lower of (i) an amount equal to 25% of InterCure’s equity on a consolidated basis, based on our most recent financial statements made publicly available before the date on which the indemnity payment is made and (ii) $20 million.
 

D.   Employees.
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Our employees are classified as either production workers or administrative workers. As of December 31, 2024, we employed approximately 100 production workers and 70 administrative employees, and approximately 150 retail and distribution employees.
 
None of our employees are represented by a labor organization or are party to a collective bargaining arrangement.
 
We pay substantial attention to the ongoing training of our employees, which we believe plays a significant role in strengthening the leadership and efficiency of our company. Our training focuses on strengthening technical knowledge, building efficiency and improve other aspects of professional development. Our training programs also support the various certifications that we are required to maintain, such as IMC-GAP and IMC-GSP.
 

E.     Share   
     Ownership.
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Equity Incentive Plan
 
The Equity Incentive Plan was originally adopted by the Board in March 2015. The 2022 Israeli Option Plan was adopted during InterCure’s annual general meeting held on September 15, 2022, and on March 20, 2025 the expiration of the Equity Incentive Plan was extended by the Board from September 15, 2025 until March 31, 2026. The Equity Incentive Plan provides for the grant of options to InterCure’s directors, officers, employees, nonemployee service providers and controlling shareholders (as defined the Israeli Income Tax Ordinance [New Version], 5721-1961) (the “Tax Ordinance”).
 
As of December 31, 2024, options to purchase 2,783,512 shares were outstanding. Of such outstanding options, options to purchase 2,413,662 shares were vested as of December 31, 2024, with a weighted average exercise price of NIS 9.97 per share. 
 

95
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The Equity Incentive Plan provides that no options can be issued thereunder if the aggregate number of options outstanding under the plan at the time of the grant exceeds 15% of the issued and outstanding ordinary shares of InterCure at the time. The Equity Incentive Plan provides for options to be granted at the determination of the Board (which is entitled to delegate its powers