Company: SVREW
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001013762-25-001028
Chunk: 94

Company: SaverOne 2014 Ltd.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 6
Chunk 94
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Equity
Incentive Plan

In
August 2015, our board of directors adopted the SaverOne 2014 Ltd. 2015 Share Incentive Plan, or the 2015 Plan, which provides for the
grant of options to our directors, employees, officers and consultants. A total of 3,000,000 ordinary shares are reserved but unissued
under our 2015 Plan as of March 25, 2024, following the approval our board of directors on March 24, 2024.

The
2015 Plan is administered by our board of directors, which, on its own or upon the recommendation of a remuneration committee or any
other similar committee of the board of directors, shall determine, subject to applicable law, the identity of grantees of awards and
various terms of the grant. With respect to those grantees subject to Israeli taxation, the 2015 Plan provides for granting options in
compliance with Section 102 of the Israeli Income Tax Ordinance, 1961, or the Ordinance, under the capital gains track, and for grants
to non-employee Israeli service providers, consultants and shareholders who hold 10% or more of our total share capital or are otherwise
controlling shareholders pursuant to section 3(9) of the Ordinance, as further detailed below.

Section
102 of the Ordinance allows employees, directors and officers who are not controlling shareholders and are considered Israeli residents
to receive favorable tax treatment for compensation in the form of shares or options. Our non-employee service providers and controlling
shareholders may only be granted options under section 3(9) of the Ordinance, which does not provide for similar tax benefits. Section
102 includes two alternatives for tax treatment involving the issuance of options or shares to a trustee for the benefit of the grantees
and also includes an additional alternative for the issuance of options or shares directly to the grantee. Section 102(b)(2) of the Ordinance,
the most favorable tax treatment for the grantee, permits the issuance to a trustee under the “capital gain track.” However,
under this track we are not allowed to deduct an expense with respect to the issuance of the options or shares.

Generally,
options will not be exercisable before the first anniversary of the date of grant of options, with respect to the 25.0% of the option
shares, and with respect to each additional 6.25% of the