Company: BWAY
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001171843-25-002347
Chunk: 177

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: 20-F
Item: Item 7
Chunk 177
---
 an exercise price based on the closing price of the Company on the last trading day prior to the date of the Board approval, namely August 7, 2023, subject to standard terms in the company’s Amended and Restated 2019 Share Incentive Plan and compliance with all applicable laws. The options are subject to our standard 4 year vesting period, with acceleration in the event of a change of control; Mr. Marom undertook not to compete with the products and services offered by the Company and not to do any interfering activities during the term of his employment and for 12 months of the date of termination of his employment for any reason.

 134 
-----
 

Engagement with executive directors
 
We have engaged with each of our executive directors for compensation paid to them with respect to the services provided to the Company, for more information please see “Item 6.B.—Compensation—Director Compensation.”
 
Consulting Agreement with Prof. Abraham Zangen
 
In April 2009, we entered into a consulting agreement, which was last amended in May 2014, with Prof. Abraham Zangen, our scientific founder and a member of our Board, under which Prof. Zangen provides advisory services to us in the field of neurobiology. Prof. Zangen’s monthly consulting fee is NIS 19,375. This agreement provides for a notice period of 180 days for termination of the agreement by Prof. Zangen and 30 days for termination of the agreement by us.
 
Sponsorship of an Obesity Study at BGU
 
In 2021, we entered into an addendum to a July 2012 agreement with Ben Gurion Negev Technology and Applications Ltd. which operates a lab associated with Prof. Zangen, a director of the Company. Under the terms of the addendum, we agreed to sponsor a 40-patient obesity study involving Deep TMS.
 
Option Grants
 
Each of our directors and members of senior management are participants in our Share Incentive Plan, pursuant to which they receive from time to time grants of options to purchase our Ordinary Shares. For more information, see “Item 6. Directors, Senior Management and Employees—Share Ownership—Award Plans.”
 
Since January 1, 2022, we granted options to purchase 1,768,000 Ordinary Shares to employees and directors, with a weighted average exercise price of approximately $1.7 per share, or approximately NIS 5.97 per share (based on the exchange rate reported