Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 121

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 19
Chunk 121
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, that will allow the Company to reserve from time-to-time, out of its authorized unissued
share capital, such number of Shares, as the Board deems appropriate.

The options can be exercised for a
period of up to 10 years from the date of their allotment. An option that is not exercised by that date will expire.

Pursuant to the options plan, the options
for the Company’s employees and officers, other than its former controlling shareholder, will be allocated under Section 102 of the Israeli
Income Tax Ordinance (where the Board can determine the type of option as “ Option 102 in the Non-Trustee Track” or “ Option
102 in the Trustee Track”) and the options for service providers and the former controlling shareholder of the Group, will be allocated
in accordance with Section 3(i) of the Israeli Income Tax Ordinance.

See also A6) above.

  Amendment to the Company’s compensation policy and Restricted Shares and Restricted Share Units  

On January 24, 2023, the Company adopted
an amendment to the Company’s compensation policy, which includes an efficiency plan to decrease expenses and the Company’s
burn rate. The adopted plan allows the Compensation Committee and the Board, subject to certain minimum terms and conditions, to exchange
basic salary (in whole or in part), accrued and unpaid cash salary to Company’s employees and officers, with equity-based compensation
(the “ Efficiency Plan”), by issuing Restricted Shares or Restricted Shares Units (“ RSUs”).

Under the above approved compensation
plan, the Company also granted during 2023 to its employees and service providers: (a) 7,811 RSUs in exchange for employee and service
providers’ salary of NIS 346 thousand (approximately $ 94 thousand); these shares vest mainly over 12 months, (b) bonuses in fully vested
47,315 RS to employees and service providers, with estimated value in the amount of NIS 2,328 thousand ($ 649 thousand), and (c) 9,986
RS in exchange for service providers’ fees of NIS 494 thousand (approximately $ 134 thousand).

During 2024, the Company granted115,635fully vested RS to service providers, valued $158thousand and granted bonuses to employees and service providers, in share based payment
valued under the Black - Scholes pricing model at $482thousand, which included222,034fully vested RS.

As to additional grants made in 2025
 - see