Document:

Exhibit 10.1

      CONSENT TO EXTEND PAYMENT

      THIS CONSENT TO EXTEND PAYMENT ("Consent") is dated as of the 15th day of August, 2008, and is made by and among NOVA Chemicals Inc. ("NCI"), a Delaware corporation, having offices at 1550 Coraopolis Heights Road, Moon Township, Pennsylvania 15108, Envirokare Tech, Inc., a Nevada corporation ("ENVK") having offices at 641 Lexington Avenue, 14th Floor, New York, New York 10022 and Envirokare Composite Corp. ("ECC"), a Delaware corporation having an office at 641 Lexington Avenue, 14th Floor, New York, New York 10022, and the wholly owned subsidiary of ENVK. (All terms not otherwise defined herein shall have the meanings specified in the U.S. Five Hundred Thousand (US $500,000.00) dollar Convertible Promissory Note dated May 15, 2006, executed by ECC and countersigned by ENVK with respect to Section 8 and Section 10 thereof (the "Executed and Countersigned Note"))

      W I T N E S S E T H:  

      WHEREAS, in connection with a U.S. Five Hundred Thousand (US $500,000.00) dollar loan from NCI to ECC, there was delivered to NCI: (i) the Executed and Countersigned Note, (ii) a Pledge and Security Agreement dated May 15, 2006 and executed by ECC in which ECC pledged and assigned to NCI and granted NCI a first priority security interest in the Collateral defined therein (the "Pledge Agreement"), and (iii) a Guaranty dated May 15, 2006 (the "Guaranty") executed by ENVK in which ENVK guaranteed payment and performance of the ECC Guaranteed Obligations defined therein (collectively the Executed and Countersigned Note, the Pledge Agreement and the Guaranty are referred to herein as the "Loan Documents");   

      WHEREAS, the Maturity Date of the Executed and Countersigned Note was initially May 15, 2008 but the parties previously agreed to extend the Maturity Date until August 15, 2008; and 

      WHEREAS, ECC has requested an additional two (2) month extension of the Maturity Date and NCI is agreeable to accepting its request subject to the terms and conditions set forth below; 

      NOW THEREFORE, in consideration of the sum of one dollar and other good and valuable consideration by each of the parties to the other in hand paid, the receipt of which is hereby acknowledged and in further consideration of the representations, covenants and conditions set forth herein, it is agreed as follows: 

      
        	NCI hereby accepts the request of ECC to extend the Executed and Countersigned Note's Maturity Date from August 15, 2008 to October 15, 2008 (the "Extended Maturity Date") under the following representations of ECC and ENVK:

      

      That no Event of Default has occurred under the Executed and Countersigned Note. 

      Except for the within change in the Maturity Date of the Executed and Countersigned Note to the Extended Maturity Date, that all terms and conditions of the Loan Documents are valid and binding and the Loan Documents each be and remain in full force and effect as of the date hereof.  

      
        	This Consent may not be modified, amended, supplemented, extended, waived or terminated except by an instrument in writing signed by all of the parties hereto.

      

      
        	All notices, requests, instructions or other communications pertaining to this Consent shall be in writing and delivered by personal delivery, overnight courier, mail, electronic facsimile addressed to the receiving party at the address set forth herein. All such communications shall be effective when received.

      

      
        Notices to ECC:

        
 Envirokare Composite Corp.  

        641 Lexington Avenue, 14th Floor

        New York, New York 10022

        Attention:  President

        Fax: 212-634-6339

        Notices to ENVK: 

        Envirokare Tech, Inc.  

        641 Lexington Avenue, 14th Floor

        New York, New York 10022

        Attention:  President

        Fax: 212-634-6339 

        Notices to NCI: 

        NOVA Chemicals Inc.

        1550 Coraopolis Heights Road

        Moon Township, Pennsylvania  15108

        Attention:  Senior Vice President and Chief Legal Officer

        Fax: 412-490-4531

        Any party may change the address set forth above by notice to each other party given as provided herein.

      

      
        	This Consent shall be governed by, construed and enforceable in accordance with the laws of the State of New York, excluding its conflict of laws rules.

      

      
        	This Consent may be validly executed and delivered (including by facsimile transmission or portable document format) in counterparts, each of which taken together shall constitute one and the same agreement and each of which shall constitute an original.

      
IN WITNESS WHEREOF, each of the undersigned has executed this Consent on the day and year above written. 

      

      Envirokare Composite Corp.   Envirokare Tech, Inc. 

      By:________________________   By:_________________________

            Name: George E. Kazantzis         Name: Paul G. Gillease

            Title:   President          Title:   Chairman 

       

      NOVA Chemicals Inc. 

       

      By:_________________________

             Name: Jack Mustoe

               Title:  Senior Vice President and Chief Legal Officer 

       

      By:_________________________

             Name:  William C. Mitchell

               Title:    Vice President, LegalS-8

Exhibit 4.4  

NICE SYSTEMS LTD. 

2008 SHARE INCENTIVE
PLAN 

      A. NAME AND PURPOSE 

     1.    
          Name: This plan, as amended from time to time, shall be known as the
          “Nice Systems Ltd. 2008 Share Incentive Plan”. 

     2.    
          Purpose: The purpose and intent of the Plan is to provide incentives to
          employees, directors, consultants and/or contractors of the Company, by
          providing them with opportunities to purchase Shares, pursuant to a plan
          approved by the Board which is designed to enable the Company to issue equity
          related awards. 

        Incentives
under the Plan will only be issued to Grantees (as defined below) subject to the
applicable law in their respective country of residence for Tax or other purposes. 

      B. DEFINITIONS 

“Administrator”
means (i) the Board, or (ii) the Company’s Compensation Committee or a committee of
the Board appointed by the Board for the purpose of the administration of the Plan, if
appointed, to the extent acting in accordance with specific authorization and guidelines
provided by the Board for such purpose and subject to any restriction under applicable
law. 

“Adoption Date”
means the Date of Grant, or any other date of commencement of vesting of an Award, for the
purposes of the Plan, that is determined by the Administrator for a given grant of an
Award. 

“Affiliate” means
any company in which Nice Systems Ltd. holds, directly or indirectly, at least 10% of the
issued share capital or voting power. 

“Award” means any
equity related award, including any type of an Option and/or Share Appreciation Right
and/or Share and/or Restricted Share and/or Restricted Share Unit and/or other Share unit
and/or other Share-based award and/or other right or benefit under the Plan. 

“Board” means the
Board of Directors of the Company. 

“Cause” means (i) breach
of the Grantee’s duty of loyalty towards the Company, or (ii) breach of the
Grantee’s duty of care towards the Company, or (iii) the commission of any flagrant
criminal offense by the Grantee, or (iv) the commission of any act of fraud, embezzlement
or dishonesty towards the Company by the Grantee, or (v) any unauthorized use or
disclosure by the Grantee of confidential information or trade secrets of the Company, or
(vi) involvement in a transaction in connection with the performance of duties to the
Company which transaction is adverse to the interests of the Company and which is engaged
in for personal profit, or (vii) any other intentional misconduct by the Grantee (by
act or omission) adversely affecting the business or affairs of the Company in a material
manner, or (viii) any act or omission by the Grantee which would allow for the termination
of the Grantee’s employment without severance pay, according to the Israeli Severance
Pay Law, 1963, or any similar provision of law in the jurisdiction in which the Grantee is
employed. 

“Cessation of
Service” means (i) the cessation of the employee-employer relationship between
the Grantee, who was an employee of the Company on the Date of Grant of any Awards to him
or her, and the Company, for any reason; or (ii) the cessation of service of a Grantee,
who was a director of the Company on the Date of Grant of any Awards to him or her, as a
director of the Company, for any reason; or (iii) the termination or expiration of an
agreement between the Company and a Grantee who was a consultant or contactor of the
Company on the Date of Grant of any Awards to him or her, for any reason. 

“Companies Law”
means the Israeli Companies Law, 1999. 

“Company” means Nice Systems Ltd., a company organized under the laws of the State of Israel, or any
Affiliate thereof. 

“Corporate
Transaction” means the occurrence, in a single transaction or in a
series of related transactions, of any one or more of the following events: 

         (i)       
          a sale or other disposition of all or substantially all, as determined by the
          Board in its discretion, of the consolidated assets of the Company and its
          subsidiaries; 

         (ii)       
          a sale or other disposition of at least eighty percent (80%) of the outstanding
          securities of the Company; 

         (iii)       
          a merger, consolidation or similar transaction following which the Company is
          not the surviving corporation; or 

         (iv)       
          a merger, consolidation or reorganization following which the Company is the
          surviving corporation but the Ordinary Shares of the Company outstanding
          immediately preceding the merger, consolidation or reorganization are converted
          or exchanged by virtue of the merger, consolidation or reorganization into other
          property, whether in the form of securities, cash or otherwise. 

        Whether
a transaction is a “Corporate Transaction” as defined above, shall be finally
and conclusively determined by the Administrator in its absolute discretion. 

“Date of Grant”
means the effective date of grant of an Award, as detailed in Section 5.1 below. 

“Date of Cessation”
means the effective date of a Cessation of Service. 

“Disability” means
the inability to engage in any substantial gainful occupation for which the Grantee is
suited by education, training or experience, by reason of any medically determinable
physical or mental impairment that is expected to result in such person’s death or to
continue for a period of six (6) consecutive months or more. 

“Exercise
Conditions” means a Vesting Period and/or Performance Conditions. 

“Exercise Price”
means (i) the purchase price per Share subject to an Award, or (ii) the nominal value
per Share to be paid upon the vesting of an Award that does not require exercise by the
Grantee, to the extent the Grantee is required to pay such nominal value hereunder, as
applicable. 

“Exercised Share”
means a Share issued upon exercise of an Award or vesting of an Award, as applicable, or,
if applicable, a freely transferable Share issued to a Grantee not resulting from another
type of Award. 

“Grantee” means the
person to whom an Award shall be granted under the Plan. 

“Notice of Exercise”
means a written notice of exercise of an Award, delivered by a Grantee to the Company. 

“Notice of Grant”
means a written notice of the grant of an Award, accompanied by an applicable agreement
between the Company and the Grantee relating to the terms of grant of said Award. 

“Option” means an
option to purchase a Share or Shares. 

“Performance Based
Award” means a performance based Award as defined in Section 10.1 below. 

“Performance
Conditions” as defined in Section 10.1 below. 

“Plan” means this
“Nice Systems Ltd. 2008 Share Incentive Plan”, as amended from time to time. 

“Representative”
means any third party designated by the Company for the purpose of the exercise of Awards,
as provided in Section 8.2 below. 

“Restricted Share”
means a Share issued under the Plan to a Grantee for such consideration, if any, and
subject to such restrictions as established by the Company, as detailed in Section 9A
below. 

“RSU” means
Restricted Share Unit, as defined in Section 9 below. 

“Sale” means the
sale of all or substantially all of the issued and outstanding share capital of the
Company. 

“Share” means an
Ordinary Share, nominal value of NIS 1.00 each of the Company. 

“Share Appreciation Right (SAR)”
means a right entitling the Grantee to Shares, measured by appreciation in value of a
Share during the period from the Adoption Date or Date of Grant to date of exercise of
such right, as detailed in Section 9B below. 

“Stock Market”
means a stock exchange or an electronic securities trading system (such as
NASDAQ). 

“Successor Entity
Award” means securities of any successor entity, as provided in Section 11.5
below. 

“Tax” means any and
all federal, provincial, state and local taxes of any applicable jurisdiction, and other
governmental fees, charges, duties, impositions and liabilities of any kind whatsoever,
including social security, national health insurance or similar compulsory payments,
together with all interest, linkage for inflation, penalties and additions imposed with
respect to such amounts. 

“Vesting Period” of
an Award means, for the purpose of the Plan and its related instruments, the period
between the Adoption Date and the date on which (i) the Grantee may exercise the Award
into Exercised Shares; or (ii) if said Award does not require the Grantee to exercise it,
the date on which the Award vests into an Exercised Share; or (iii) the date on which a
Share (not resulting from another type of Award) may be freely transferred by the Grantee
(subject to any other restrictions prescribed herein or by law). 

      C.  GENERAL TERMS AND CONDITIONS OF THE PLAN 

	3.  	Administration:  

     3.1        The
Plan will be administered by the Administrator, subject to applicable law, including but
not limited to the instructions of the Companies Law.  

     3.2        Subject
to the general terms and conditions of the Plan, the Administrator shall have the full
authority in its discretion, from time to time and at any time to determine (i) the
Grantees under the Plan, (ii) the number of Shares subject to each Award, the type of
Award, and the Exercise Price per Share, (iii) the time or times at which the same shall
be granted, (iv) the schedule and conditions, including Performance Conditions (as
defined in Section 10 below), if applicable, on which Awards may vest or be exercised and
on which Shares shall be paid for, (v) the method of payment for Shares purchased
pursuant to any Award, (vi) the method for satisfaction of any tax withholding
obligation arising in connection with an Award, including by the withholding, delivery or
sale of Shares, (vii) rules and provisions, as may be necessary or appropriate to
permit eligible Grantees resident or employed in any specific jurisdiction to participate
in the Plan and/or to receive preferential tax treatment in their country of residence,
with respect to Awards granted hereunder, and/or (viii) any other matter which is
necessary or desirable for, or incidental to, the administration of the Plan.  

     3.3        The
Administrator may, from time to time, adopt such rules and regulations for carrying out
the Plan, as it may deem necessary.  

     3.4        The
interpretation and construction by the Administrator of any provision of the Plan or of
any Award thereunder shall be final and conclusive and binding on all parties who have an
interest in the Plan or any Award or Exercised Share, unless otherwise determined by the
Board.  

	4.  	Eligible
Grantees: 

     4.1        The
Administrator, at its discretion, may grant Awards to any employee, director, consultant
and/or contractor of the Company. Anything in the Plan to the contrary notwithstanding,
all grants of Awards shall be authorized and implemented only in accordance with the
provisions of applicable law.  

     4.2        The
grant of an Award to a Grantee hereunder, shall neither entitle such Grantee to
participate, nor disqualify him from participating, in any other grant of Awards pursuant
to the Plan or any other incentive plan of the Company.  

	5.  	Date
of Grant and Shareholder Rights:  

     5.1        Date
of Grant. Subject to Sections 7.1 and 7.2 hereof and to any applicable law, the Date
of Grant shall be the date the Administrator resolves to grant such Award, or any later
date, if so specified by the Administrator in its determination relating to the grant of
such Award. The Company shall promptly give the Grantee a Notice of Grant following such
resolution.  

     5.2        Shareholder
Rights. A Grantee holding of an Award shall have no shareholder rights with respect
to the Shares subject to such Award until such Grantee (i) shall have exercised such
Award or such Award has vested, as applicable, and (ii) shall have all restrictions
applicable to any Shares issued to him removed, if applicable; and (iii) has paid the
applicable Exercise Price, if any; and (iv) has become the record holder of the Exercised
Shares.  

	6.  	Reserved
Shares:  

     6.1        The
maximum number of Shares that may be subject to Awards granted under the Plan shall be an
amount per calendar year, commencing on the 2008 calendar year, equal to 3.5% of the
Company’s issued and outstanding Share capital as of the 31st of December
of the preceding calendar year, subject to adjustments as provided in Section 11 hereof.
The amount stated above shall be re-set for each calendar year.  

        For
the avoidance of doubt, any balance of such amount not utilized in a certain calendar year
cannot be utilized in any following calendar year. 

        Notwithstanding
the above, for the 2008 calendar year the aforementioned amount will be reduced by the
number of Shares subject to Awards granted by the Company during the 2008 calendar year
under its “2003 STOCK OPTION PLAN”. 

     6.2        Without
derogating from the foregoing in Section 6.1, all Shares under the Plan, in respect of
which the right of a Grantee to hold or purchase or be issued the same shall, for any
reason, terminate, expire or otherwise cease to exist, shall again be available for grant
through Awards under the Plan, and under any sub-plans of the Plan, as the Administrator
may determine at its own discretion, from time to time. Notwithstanding the above, Shares
withheld or reacquired by the Company in satisfaction of tax withholding obligations
pursuant to Section 14.2 below shall not be taken into account for the purposes of
calculating the maximum number of Shares that may be subject to Awards pursuant to
Section 6.1 above.  

     6.3        Without
derogating from the foregoing, the Committee shall have full authority in its discretion
to determine that the Company may issue, for the purposes of the Plan, previously issued
Shares that are held by the Company, from time to time, as Dormant Shares (as such term
is defined in the Companies Law).  

     6.4        Notwithstanding
the foregoing, (i) a Grantee may elect, or (ii) the Company may determine at its sole and
absolute discretion, at the time of exercise (or vesting) of an Award, that the Company
shall issue, in lieu of Ordinary Shares, an equal number of the Company’s American
Depositary Receipts (“ADRs”), each of which represents one American
Depositary Share which, in turn, represents one Share. For the avoidance of doubt, Awards
may not be exercised for a combination of Shares and ADRs.  

	7.  	Required
Approvals; Notice of Grant; Vesting:  

     7.1        The
implementation of the Plan and the granting of any Award under the Plan shall be subject
to the Company’s procurement of all approvals and permits required by applicable
laws or regulatory authorities having jurisdiction over the Plan, the Awards granted
under it, and the Shares issued pursuant to it.  

     7.2        The
Notice of Grant shall state, inter alia, the number of Shares subject to each
Award, the type of Award, the vesting schedule, the dates when the Award may be exercised
and/or will vest (as applicable), any restrictions upon transfer or sale of Shares (if
applicable), the Exercise Price, the tax treatment to which the Award is subject and such
other terms and conditions as the Administrator at its discretion may prescribe, provided
that they are consistent with the Plan.  

     7.3        Vesting
of Awards. Unless determined otherwise by the Administrator, the Vesting Period
pursuant to which Awards shall vest, shall be such that all Awards shall be fully vested
on the first business day following the passing of four (4) years from the Adoption Date,
such that twenty five percent (25%) of the Shares subject to the Awards shall vest on the
first anniversary of the Adoption Date, and 6.25% of the Shares subject to the Awards
shall vest on the last day of each consecutive calendar quarter following the first
anniversary of the Adoption Date (a total of 12 calendar quarters). Specifically with
respect to RSUs, unless determined otherwise by the Administrator, the Vesting Period
shall be such that RSUs shall be fully vested on the first business day following the
passing of four (4) years from the Adoption Date, such that twenty five percent (25%) of
the Shares subject to the RSUs shall vest on each of the four consecutive annual
anniversaries following the Adoption Date.  

        Unless
determined otherwise by the Administrator, a period in which the Grantee shall not be
employed by the Company, or in which the Grantee shall have taken an unpaid leave of
absence that is longer than 30 consecutive days (excluding a leave for military reserves
duty or the mandatory maternity leave determined by law), or in which the Grantee shall
not serve as a director, consultant or contractor of the Company, or in which the
Grantee’s average hourly position decreases by more than 50%, shall not be included
in the Vesting Period. Notwithstanding the aforesaid, it is hereby clarified that the
Vesting Period shall continue in any of the foregoing events that is the result of a
Grantee’s Disability, subject to the provisions of the Plan relating to Disability. 

    7.4        Acceleration
of Vesting. 

		    (a)        Anything
herein to the contrary in the Plan notwithstanding, the Administrator           shall
have full authority to determine at any time any provisions regarding the
          acceleration of the Vesting Period of any Award (including, without limitation,
          accelerating the vesting schedule of any outstanding unvested Award upon a
          Corporate Transaction), or the cancellation of all or any portion of any
          outstanding restrictions or Exercise Conditions with respect to any Award or
          Share upon certain events or occurrences, and to include such provisions in the
          Notice of Grant on such terms and conditions as the Administrator shall deem
          appropriate.  

		    (b)        Without
deviating from the generality of the foregoing, the Board shall have           full
authority to determine with respect to Awards granted to certain executive
          officers of the Company, that in the event of the occurrence of both (i) a
          Corporate Transaction, excluding a transaction included solely in clause (iv)
of           the definition of such term in Article B above, and (ii) either (A) the
          Cessation of Employment of the Grantee by the Company (i.e. not voluntarily by
          the Grantee), other than for Cause, within 12 months following the closing of
          said Corporate Transaction, or (B) a demotion in such Grantee’s position
or           any other material adverse change in such Grantee’s functions, duties
or           responsibilities, initiated by the Company or the Board within 12 months
          following the closing of said Corporate Transaction; then all Awards granted to
          said Grantee and not yet exercised or expired will immediately become fully
          vested and/or exercisable (as applicable).  

	8.  	Options:  

     8.1        Exercise
Price. The Exercise Price per Share subject to each Option shall be determined by the
Administrator in its sole and absolute discretion, subject to applicable law and to
guidelines adopted by the Board, from time to time. In the event the Exercise Price is
not determined by the Administrator, and provided the Company’s shares are listed on
any Stock Market, the Exercise Price of an Option shall be equal to the closing price of
one ADR of the Company, as quoted on the NASDAQ market on the Date of Grant, or if a
closing sales price is not quoted on the Date of Grant – the closing price of one
ADR of the Company as quoted on the NASDAQ market on the first date following the Date of
Grant for which a closing sales price is quoted.  

     8.2        Exercise
of Options. Options shall be exercisable pursuant to the terms under which they were
awarded and subject to the terms and conditions of the Plan. The exercise of an Option
shall be made by a written Notice of Exercise delivered by the Grantee to the Company at
its principal executive office, and/or to a Representative, in such form and method as
may be determined by the Company, specifying the number of Shares to be purchased and
accompanied by the payment of the Exercise Price, at the Company’s or the
Representative’s principal office, and containing such other terms and conditions as
the Administrator shall prescribe from time to time.  

        Each
payment for Exercised Shares shall be in respect of a whole number of Shares, and shall be
effected in cash or by a bank’s check payable to the order of the Company, or such
other method of payment acceptable to the Company. 

     8.3        Net
Exercise. Notwithstanding the provisions of Section 8.2 above, the Board may
determine that instead of issuing one Exercised Share as a result of the exercise of each
one Option (subject to adjustments under Section 11 herein), any Options shall be
exercised using the following method (the “Net Exercise”):  

		    (a)        The
Company shall issue to the Grantee a number of Shares having an aggregate
          Market Value (as defined below) equal to the Benefit Amount (the “Net
          Exercise Shares”);  

	 	        For
the purposes of this section:  

		    (i)        The
“Benefit Amount” shall mean the difference between:  

		    (A)        the
product of (x) the Market Value and (y) the number of Shares subject to the
          Options for which a Notice of Exercise has been delivered to the Company; and  

		    (B)        the
product of (x) the Exercise Price and (y) the number of Shares subject to           the
Options for which a Notice of Exercise has been delivered to the Company.  

		    (ii)        “Market
Value” shall mean the closing price for a Share on the           last trading
day prior to the date of exercise, as reported or quoted on NASDAQ           (or on any
other Stock Market on which Shares are traded, if so determined by           the
Administrator).  

		    (b)        The
Grantee shall not be required to pay to the Company any sum with respect to           the
exercise of such Options, other than a sum equal to the aggregate nominal           value
of the Net Exercise Shares (which shall be paid in a manner provided in           Section
8.2 above) (the “Nominal Value Sum”). The Board, in its           sole
discretion, shall determine procedures from time to time for payment of           such
nominal value by the Grantee or for collection of such amount from the           Grantee
by the Company. However, the Company shall have the full authority in           its
discretion to determine at any time that the Nominal Value Sum shall not be
          paid and that the Company shall capitalize applicable profits or take any other
          action to ensure that it meets any requirement of applicable law regarding
          issuance of Shares for consideration that is lower than the nominal value of
          such Shares;  

		    (c)        In
any event, no fractional Shares will be issued to the Grantee and the number           of
Shares granted to the Grantee under the Plan shall be rounded off (upward or
          downward, as the Administrator shall determine) to the nearest whole number.  

     8.4        Term
of Options. Unless otherwise determined by the Administrator, anything herein to the
contrary notwithstanding, but without derogating from the provisions of Section 8.6
below, if any Option has not been exercised and the Shares subject thereto not paid for
within six (6) years after the Date of Grant (or any shorter or longer period set forth
in the Notice of Grant), such Option and the right to acquire such Shares shall
terminate, all interests and rights of the Grantee in and to the same shall ipso facto expire,
and the Shares subject to such Options shall again be available for grant through Options
under the Plan, any sub-plans of the Plan, as provided for in Section 6 herein.  

     8.5        The
exercise of the Options shall be subject to any applicable law, including when
applicable, the limitations in connection with the use of nonpublic information.  

         8.6.       
          Cessation of Service. 

		    (a)        Employees.
In the event of a Cessation of Service, all Options           theretofore granted to such
Grantee when such Grantee was an employee of the           Company, unless determined
otherwise by the Administrator, shall terminate as           follows:  

		    (i)        All
such Options that are not vested on the Date of Cessation shall terminate
          immediately, except as detailed in sub-section (iii) below.  

		    (ii)        If
the Grantee’s Cessation of Service is by reason of such Grantee’s
          Disability, such Options (to the extent vested at the Date of Cessation) shall
          be exercisable by the Grantee or the Grantee’s guardian, legal
          representative, estate or other person to whom the Grantee’s rights are
          transferred by will or by laws of descent or distribution, at any time until
the           lapse of twelve (12) months from the Date of Cessation (but in no event
after           the expiration date of such Options), and shall thereafter terminate.  

		    (iii)        If
the Grantee’s Cessation of Service is by reason of such Grantee’s
          death, then (A) the vesting of the Grantee’s Options which are not vested
          and exercisable as of the Date of Cessation shall be accelerated and such
          Options shall become immediately vested and exercisable as of the Date of
          Cessation, and (B) such Options (to the extent vested at the Date of Cessation
          due to sub-section (A) or otherwise) shall be exercisable by the Grantee or the
          Grantee’s guardian, legal representative, estate or other person to whom
          the Grantee’s rights are transferred by will or by laws of descent or
          distribution, at any time until the lapse of twelve (12) months from the Date
of           Cessation (but in no event after the expiration date of such Options), and
shall           thereafter terminate.   

		    (iv)        If
the Grantee’s Cessation of Service is due to any reason other than those
          stated in Sections 8.6(a)(ii), 8.6(a)(iii) and 8.6(a)(v) herein, such Options
          (to the extent vested on the Date of Cessation) shall be exercisable at any
time           until the lapse of three (3) months from the Date of Cessation (but in no
event           after the expiration date of such Options), and shall thereafter
terminate; provided, however, that if the Grantee dies within such period,
          such Options (to the extent vested on the Date of Cessation) shall be
          exercisable by the Grantee’s legal representative, estate or other person
          to whom the Grantee’s rights are transferred by will or by laws of descent
          or distribution at any time until the lapse of twelve (12) months from the Date
          of Cessation (but in no event after the expiration date of such Options), and
          shall thereafter terminate.  

		    (v)        Notwithstanding
the aforesaid, if the Grantee’s Cessation of Service is for           Cause, all of
the Options whether vested or not shall ipso facto expire           immediately
and be of no legal effect.  

		    (vi)        Whether
the Cessation of Service of a particular Grantee is by reason of           “Disability” for
the purposes of paragraph 8.6(a) hereof, or is for           Cause as set forth in
paragraph 8.6(a)(v) hereof, shall be finally and           conclusively determined by the
Administrator in its absolute discretion.  

		    (vii)        Notwithstanding
the aforesaid, under no circumstances shall any Option be           exercisable after the
specified expiration of the term of such Option.  

		    (b)        Directors,
Consultants and Contractors. In the event of Cessation of           Service of a
Grantee, who is a director, consultant or contractor of the           Company, the
provisions of Section 8.6(a) above shall apply, mutatis           mutandis.  

		    (c)        Notwithstanding
the foregoing provisions of this Section 8.6, the Administrator           shall have the
discretion, exercisable either at the time an Option is granted           or thereafter,
to:  

		    (i)        Extend
the period of time for which the Option is to remain exercisable           following the
Date of Cessation to such greater period of time, as the           Administrator shall
deem appropriate, but in no event beyond the specified           expiration of the term
of the Option; and/or  

		    (ii)        Permit
the Option to be exercised, during the applicable exercise period           following the
Date of Cessation, not only with respect to the number of Shares           for which such
Option is exercisable at the Date of Cessation but also with           respect to one or
more additional installments in which the Grantee would have           vested under the
Option had the Grantee continued in the employ or service of           the Company.  

		    (d)        Notwithstanding
the foregoing provisions of this Section 8.6, unless determined           otherwise by
the Administrator, “Cessation of Service” shall not           include: (i) a
change in status from an employee, director, consultant and/or           contractor to
another such status, provided that the individual remains in the           service of the
Company in any capacity of employee, director, consultant and/or           contractor,
and (ii) the transfer of a Grantee from the employ or service of the           Company to
the employ or service of an Affiliate, or from the employ or service           of an
Affiliate to the employ or service of the Company or another Affiliate.  

     8.7        Re-pricing
of Options. Subject to applicable law, the Administrator shall have full authority
to, at any time and from time to time, (i) grant in its discretion to the holder of an
outstanding Option, in exchange for the surrender and cancellation of such Option, a new
Option having an Exercise Price lower than provided in the Option so surrendered and
canceled and containing such other terms and conditions as the Administrator may
prescribe in accordance with the provisions of the Plan, or (ii) effectuate a decrease in
the Exercise Price (see Section 8.1 above) of outstanding Options.  

	9.  	Restricted
Share Units:  

     9.1        Subject
to the sole and absolute discretion and determination of the Administrator, the
Administrator may decide to grant under the Plan, Restricted Share Unit(s) (“RSU(s)”).
A RSU is a right to receive a Share of the Company, under certain terms and conditions,
for a consideration of no more than the underlying Share’s nominal value. Upon the
lapse of the Exercise Conditions of a RSU, such RSU shall automatically vest into an
Exercised Share of the Company (subject to adjustments under Section 11 herein) and the
Grantee shall pay to the Company its nominal value. The Board, in its sole discretion,
shall determine procedures from time to time for payment of such nominal value by the
Grantee or for collection of such amount from the Grantee by the Company. However, the
Company shall have the full authority in its discretion to determine at any time that
said nominal value shall not be paid and that the Company shall capitalize applicable
profits or take any other action to ensure that it meets any requirement of applicable
law regarding issuance of Shares for consideration that is lower than the nominal value
of such Shares.  

     9.2        Unless
determined otherwise by the Administrator, in the event of a Cessation of Service, all
RSUs theretofore granted to such Grantee when such Grantee was an employee, director,
consultant or contractor of the Company, as the case may be, that are not vested on the
Date of Cessation, shall terminate immediately and have no legal effect.  

     9.3        All
other terms and conditions of the Plan applicable to Options, shall apply to RSUs, mutatis
mutandis. It is clarified, that without deviating from the foregoing in Sub-Section
9.2, the provisions of Section 8.6 herein shall, mutatis mutandis, apply to RSUs
in any event of Cessation of Service.  

	9A.  	Restricted
Shares.  

     9A.1        Restricted
Share Awards may be granted upon such terms and conditions, as the Administrator shall
determine.  

     9A.2        Purchase
Price. No monetary payment (other than payments made for applicable Taxes) shall be
required as a condition of receiving Shares pursuant to a grant of Restricted Shares.
Notwithstanding the foregoing, the Grantee shall furnish consideration in the form of
cash having a value not less than the nominal value of the Shares subject to an award of
Restricted Shares. The Board, in its sole discretion, shall determine procedures from
time to time for payment of such nominal value by the Grantee or for collection of such
amount from the Grantee by the Company. However, the Company shall have the full
authority in its discretion to determine at any time that said nominal value shall not be
paid and that the Company shall capitalize applicable profits or take any other action to
ensure that it meets any requirement of applicable law regarding issuance of Shares for
consideration that is lower than the nominal value of such Shares.  

     9A.3        Vesting
and Restrictions on Transfer. Shares issued pursuant to any Restricted Shares may
(but need not) be made subject to Exercise Conditions as described herein, as shall be
established by the Administrator and set forth in the applicable Notice of Grant
evidencing such Award. During any restriction period in which Shares acquired pursuant to
an award of Restricted Shares remain subject to Exercise Conditions, such Shares may not
be sold, exchanged, transferred, pledged, assigned or otherwise disposed of unless
otherwise provided in the Plan. If the satisfaction of Exercise Conditions with respect
to any Shares subject to such award of Restricted Shares would otherwise occur in a Quiet
Period, then the satisfaction of the Exercise Conditions will automatically be deemed to
occur on the next day on which the sale of such Shares would not violate the Quiet
Period. Upon request by the Company, each Grantee shall execute any agreement evidencing
such transfer restrictions prior to the receipt of Shares hereunder and shall promptly
present to the Company any and all certificates representing Shares acquired hereunder
for the placement on such certificates of appropriate legends evidencing any such
transfer restrictions.  

     9A.4        Voting
Rights; Dividends and Distributions. Except as provided in this section and any
Notice of Grant, during any restriction period applicable to Shares subject to an award
of Restricted Shares, the Grantee shall have all of the rights of a shareholder of the
Company holding Shares, including the right to vote such Shares and to receive all
dividends and other distributions paid with respect to such Shares. However, in the event
of a dividend or distribution paid in Shares or other property or any other adjustment
made upon a change in the capital structure of the Company as described in Section 11.1,
any and all new, substituted or additional securities or other property (other than
normal cash dividends) to which the Grantee is entitled by reason of the Grantee’s
award of Restricted Shares shall be immediately subject to the same Exercise Conditions
as the Shares subject to the award of Restricted Shares with respect to which such
dividends or distributions were paid or adjustments were made.  

     9A.5        Cessation
of Service. Unless otherwise provided by the Administrator, in the event of Cessation
of Service of a Grantee, for any reason, whether voluntary or involuntary (including the
Grantee’s death or disability), then the Grantee shall forfeit to the Company any
Shares acquired by the Grantee pursuant to an award of Restricted Shares which remain
subject to Exercise Conditions as of the Date of Cessation.  

     9A.6        All
other terms and conditions of the Plan applicable to Options, shall apply to Restricted
Shares, mutatis mutandis. It is clarified, that without deviating from the
foregoing in Section 9A.5, the provisions of Section 8.6 herein shall, mutatis
mutandis, apply to Restricted Shares in any event of Cessation of Service.  

	9B.  	Share
Appreciation Rights.  

     9B.1        SARs
may be granted upon such terms and conditions, as the Administrator shall determine.  

     9B.2        Exercise
Price. The exercise price for each SAR shall be established in the discretion of the
Administrator.  

     9B.3        Exercisability
and Term of SARs. SARs shall be exercisable at such time or times, or upon such event
or events, and subject to such terms, conditions, performance criteria and restrictions
as shall be determined by the Administrator and set forth in the Notice of Grant
evidencing such SAR; provided, however, that no SAR shall be exercisable after the
expiration of six (6) years after the effective date of grant of such SAR.  

     9B.4        Exercise
of SARs. Upon the exercise of a SAR, the Grantee shall be entitled to receive payment
of an amount for each Share with respect to which the SAR is exercised equal to the
excess, if any, of (i) the closing price for a Share on the last trading day prior to the
date of exercise, as reported or quoted on NASDAQ, over (ii) the exercise price. Payment
of such amount shall be made solely in Shares, based on the said closing price, in a lump
sum following the date of exercise of the SAR. For the avoidance of doubt, a SAR shall be
deemed exercised on the date on which the Company receives Notice of Exercise from the
Grantee.  

     9B.5        All
other terms and conditions of the Plan applicable to Options, shall apply to SARs, mutatis
mutandis.  

	10.  	Performance
Based Awards:  

     10.1        Subject
to the sole and absolute discretion and determination of the Administrator, the
Administrator may decide to grant Awards under the Plan, the exercise or vesting of
which, as applicable, shall be conditional upon the performance of the Company and/or an
Affiliate and/or a division or other business unit of the Company or of an Affiliate
and/or upon the performance of the Grantee, over such period and measured against such
objective criteria as shall be determined by the Administrator and notified to the
Grantee (“Performance Based Award(s)”). In granting each Performance
Based Award, the Administrator shall establish in writing the applicable performance
period (“Performance Period”), performance formula (“Performance
Formula”) and one or more performance goals (“Performance Goal(s)”)
which, when measured at the end of the Performance Period, shall determine on the basis
of said Performance Formula the extent to which the Performance Based Award has vested
and/or become exercisable (collectively, the “Performance Conditions”).
For the avoidance of doubt, Performance Conditions may be determined for an Award either
in addition to, or in substitution for, a Vesting Period.  

     10.2        After
a Performance Based Award has been granted, the Administrator may, in appropriate
circumstances, amend any Performance Condition, at its sole and absolute discretion.  

     10.3        If,
in consequence of the applicable Performance Conditions being met a Performance Based
Award becomes vested and/or exercisable in respect of some, but not all of the number of
Shares underlying such Award it shall thereupon lapse and cease to be exercisable in
respect of the balance of the Shares over which it was held.  

     10.4        Performance
Conditions shall not be automatically waived merely due to an event of (i) a Cessation of
Service, (ii) a Corporate Transaction, (iii) any other adjustment under Section 11 below,
or (iv) a Sale under Section 11.5 below.  

     10.5        Measurement
of Performance Goals. Performance Goals shall be established by the
Administrator on the basis of targets to be attained with respect to one or more measures
of business or financial performance that shall have the same meanings as used in the
Company’s financial statements, or, if such terms are not used in the Company’s
financial statements, they shall have the meaning applied pursuant to generally accepted
accounting principles, or as used generally in the Company’s industry (“Performance
Measures”). For purposes of the Plan, the Performance Measures applicable to a
Performance Based Award shall be calculated in accordance with generally accepted
accounting principles, excluding the effect (whether positive or negative) of any change
in accounting standards or any extraordinary, unusual or nonrecurring item, as determined
by the Administrator, occurring after the establishment of the Performance Goals
applicable to the Performance Based Award. Each such adjustment, if any, shall be made
solely for the purpose of providing a consistent basis from period to period for the
calculation of Performance Measures in order to prevent the dilution or enlargement of
the Grantee’s rights with respect to a Performance Based Award. Performance Measures
may be one or more of the following, as determined by the Administrator: revenue; sales;
expenses; operating income; gross margin; operating margin; earnings before any one or
more of: share-based compensation expense, interest, taxes, depreciation and
amortization; pre-tax profit; net operating income; net income; economic value added;
free cash flow; operating cash flow; share price; earnings per share; return on
shareholder equity; return on capital; return on assets; return on investment; employee
satisfaction; employee retention; balance of cash, cash equivalents and marketable
securities; market share; customer satisfaction; product development; research and
development expenses; completion of an identified special project; and completion of a
joint venture or other Corporate Transaction.  

     10.6        All
other terms and conditions of the Plan applicable to Awards, shall apply to Performance
Based Awards, mutatis mutandis.  

	11.  	Adjustments,
Liquidation and Corporate Transaction:  

     11.1        Adjustments.
Subject to any required action under any applicable law, the number of Shares subject to
each outstanding Award, and the number of Shares which have been authorized for issuance
under the Plan but as to which no Awards have yet been granted or which have been
returned to the Plan upon cancellation or expiration of an Award, as well as the price
per share of Shares subject to each outstanding Award, shall be proportionately adjusted,
as the Board deems necessary or appropriate, for any increase or decrease in the number
of issued Shares resulting from a share split, reverse share split, stock dividend,
combination or reclassification of the Shares, or any other increase or decrease in the
number of issued Shares effected without receipt of consideration by the Company, such
that an adjustment is appropriate in order to prevent dilution or enlargement of the
rights of a Grantee under the Plan,; provided, however, that conversion of
any convertible securities of the Company shall not be deemed to have been “effected
without receipt of consideration.” Except as expressly provided in this Section 11,
no issuance by the Company of shares of any class, or securities convertible into shares
of any class, shall affect, and no adjustment by reason thereof shall be made with
respect to, the number or price of Shares subject to an Award.  

        Except
as expressly provided in this Section 11, the grant of Awards under the Plan shall in no
way affect the right of the Company to distribute bonus shares, to offer rights to
purchase its securities, or to distribute dividends. 

     11.2        Adjustments
to Options’ Exercise Price due to Distribution of Dividends. If the Company
distributes cash dividends with respect to all Shares issued to its shareholders, and the
record date for determining the right to receive such dividends (the “Determining
Date”) is earlier than the Exercise Date of any Options granted hereunder, then the
Exercise Price for each Option granted but not exercised prior to the Determining Date,
shall be reduced by an amount equal to the gross amount of the dividend per Share
distributed. If such distribution is in a currency different than the currency in which
the Exercise Price is stated, said amount of reduction will be calculated in the same
currency as the Exercise Price according to the representative rate of exchange as of the
Determining Date, if applicable. Unless determined otherwise by the Board, the Exercise
Price shall not be reduced to less than the nominal value of a Share.  

     11.3        Liquidation.
Unless otherwise provided by the Board, in the event of the proposed dissolution or
liquidation of the Company, all outstanding Awards will terminate immediately prior to
the consummation of such proposed action. In such case, the Board may declare that any
Award shall terminate as of a date fixed by the Board and give each Grantee the right to
exercise his Award or have it vested, including Award that would not otherwise vest or be
exercisable.  

     11.4        Corporate
Transaction.  

		    (a)        In
the event of a Corporate Transaction, immediately prior to the effective date
          of such Corporate Transaction, each Award may, among other things, at the sole
          and absolute discretion of the Board, either:  

		    (i)        Be
substituted for a Successor Entity Award such that the Grantee may exercise           the
Successor Entity Award or have it become vested, as the case may be, for           such
number and class of securities of the successor entity which would have           been
issuable to the Grantee in consummation of such Corporate Transaction, had           the
Award vested or been exercised (as applicable), immediately prior to the
          effective date of such Corporate Transaction, given the exchange ratio or
          consideration paid in the Corporate Transaction, the Vesting Period and
          Performance Conditions (if any) of the Awards and such other terms and factors
          that the Administrator determines to be relevant for purposes of calculating
the           number of Successor Entity Awards granted to each Grantee; or  

		    (ii)        Be
assumed by any successor entity such that the Grantee may exercise the Award           or
have his/her Award vest (as applicable), for such number and class of
          securities of the successor entity which would have been issuable to the
Grantee           in consummation of such Corporate Transaction, had the Award vested or
been           exercised immediately prior to the effective date of such Corporate
Transaction,           given the exchange ratio or consideration paid in the Corporate
Transaction, the           Vesting Period and Performance Conditions (if any) of the
Awards and such other           terms and factors that the Board determines to be
relevant for this purpose.  

		    (iii)        Determine
that the Awards shall be cashed out for a consideration equal to the           difference
between the price received by the shareholders of the Company in the           Corporate
Transaction and the Exercise Price, purchase price, or nominal value,           as the
case may be, of such Award.  

		    In  the
event of a clause (i) or clause (ii) action, appropriate adjustments shall be made to the
Exercise Price per Share to reflect such action.  

		    (b)        Immediately
following the consummation of the Corporate Transaction, all           outstanding Awards
shall terminate and cease to be outstanding, except to the           extent assumed by a
successor entity.  

		    (c)        Notwithstanding
the foregoing, and without derogating from the power of the           Board or
Administrator pursuant to the provisions of the Plan, the Board shall           have full
authority and sole discretion to determine that any of the provisions           of
Sections 11.4(a)(i) or 11.4(a)(ii) above shall apply in the event of a
          Corporate Transaction in which the consideration received by the shareholders
of           the Company is not solely comprised of securities of a successor entity, or
in           which such consideration is solely cash or assets other than securities of a
          successor entity.  

     11.5        Sale.
Subject to any provision in the Articles of Association of the Company and to the Board’s
sole and absolute discretion, in the event of a Sale, each Grantee shall be obligated to
participate in the Sale and sell his or her Shares and/or Awards in the Company, provided,
however, that each such Share or Award shall be sold at a price equal to that of
any other Ordinary Share sold under the Sale (and, unless determined otherwise by the
Board, less the applicable Exercise Price), while accounting for changes in such price
due to the respective terms of any such Award, and subject to the absolute discretion of
the Board.  

        For
purposes of a Sale, whether “all or substantially all of the issued and outstanding
share capital of the Company is to be sold”, shall be finally and conclusively
determined by the Board in its absolute discretion. 

     11.6        The
grant of Awards under the Plan shall in no way affect the right of the Company to adjust,
reclassify, reorganize or otherwise change its capital or business structure or to merge,
consolidate, dissolve, liquidate or sell or transfer all or any part of its business or
assets.  

	12.  	Limitations
on Transfer:  

     12.1        Unless
determined otherwise by the Administrator, no Award shall be assignable or transferable
by the Grantee to whom granted otherwise than by will or the laws of descent and
distribution, and an Award shall vest or may be exercised (as applicable) during the
lifetime of the Grantee only by such Grantee or by such Grantee’s guardian or legal
representative. The terms of such Award shall be binding upon the beneficiaries,
executors, administrators, heirs and successors of such Grantee. Any ADRs or Shares
acquired upon exercise or vesting of Awards shall be transferable only in accordance with
applicable securities and other local laws, and may be subject to substantial statutory
or regulatory restrictions on transfer, except to the extent exemptions (whether by
registration or otherwise) are available.  

     12.2        Underwriter’s
Lock-up and Limitations on the Use of Nonpublic Information. The Grantee’s
rights to sell Exercised Shares may be subject to certain limitations (including a
lock-up period), as will be requested by the Company or its underwriters, from time to
time, or upon a specific occurrence, and the Grantee unconditionally agrees and accepts
any such limitations. Furthermore, the Grantee’s right to sell Exercised Shares is
subject to applicable law, including in connection with limitation relating to the use of
non-public information, if and when applicable.  

	13.  	Term
and Amendment of the Plan:  

     13.1        The
Plan shall continue until terminated by the Board. All Awards outstanding at the time of
termination, as aforementioned, shall continue to have full force and effect in
accordance with the provisions of the Plan and the documents evidencing such Awards.  

     13.2        Subject
to applicable laws and regulations, the Board in its discretion may, at any time and from
time to time, amend, alter, extend or terminate the Plan, as it deems advisable,
including without limitation, change the vesting and exercise periods.In addition,
the Administrator may adopt, as part of the Plan and based on it, sub-plans, in order to
comply with all relevant and applicable laws and regulations of the country of residence
of any Grantees.  

	14.  	Withholding
and Tax Consequences:  

     14.1        All
Tax consequences and obligations arising from the grant, vesting, or exercise of any
Award (as applicable), or the subsequent disposition of, Shares subject thereto or from
any other event or act (of the Company or of the Grantee) hereunder, shall be borne
solely by the Grantee, and the Grantee shall indemnify the Company and hold it harmless
against and from any and all liability for any such Tax, including without limitation,
monetary liabilities relating to the necessity to withhold, or to have withheld, any such
Tax payment from any payment made to the Grantee. Notwithstanding the above, the Company’s
obligation to deliver Shares upon the exercise or vesting of any Awards granted under the
Plan shall be subject to the satisfaction of all applicable Tax withholding requirements
as governed by applicable law or practice.  

     14.2        Withholding
in Shares. The Company shall have the right, but not the obligation, to deduct from
the Shares issuable to a Grantee upon the exercise or vesting of an Award, or to accept
from the Grantee the tender of, a number of whole Shares having a fair market value, as
determined by the Company, that will enable the Company to satisfy any Tax withholding
obligations of the Company.  

     14.3        The
Company shall not be required to release any Shares (or Share certificate) to a Grantee
until all required payments have been fully made or secured.  

     14.4        The
Grantee shall, if requested at any time by the Company, provide to the Company within 10
calendar days of such request, any information regarding the transfer or other
disposition of Shares reasonably required by the Company in order for the Company to
comply with applicable local laws and regulations or to obtain any benefits thereunder.  

	15.  	Miscellaneous:  

     15.1        Continuance
of Employment. Neither the Plan nor the grant of an Award thereunder shall impose any
obligation on the Company to continue the employment or service of any Grantee. Nothing
in the Plan or in any Award granted thereunder shall confer upon any Grantee any right to
continue in the employ or service of the Company for any period of specific duration, or
interfere with or otherwise restrict in any way the right of the Company to terminate
such employment or service at any time, for any reason, with or without cause.  

     15.2        Notwithstanding
anything to the contrary in the Plan, it is hereby clarified, that any income attributed
(or deemed to be attributed) to the Grantee as a result of the Plan, the grant, vesting
or exercise of Awards thereunder, or the sale of Exercised Shares, shall not be taken
into account for the purpose of calculating the Grantee’s eligibility for any rights
deriving from the employee-employer or service provider-client relationship between the
Grantee and the Company.  

     15.3        Governing
Law. The Plan and all instruments issued thereunder or in connection therewith, shall
be governed by, and interpreted in accordance with, the laws of the State of Israel,
excluding the choice of law rules thereof. 

     15.4        Application
of Funds. Any proceeds received by the Company from the sale of Shares pursuant to
the exercise or vesting of Awards granted under the Plan, as applicable, shall be used
for general corporate purposes of the Company.  

     15.5        Multiple
Agreements. The terms of each Award may differ from other Awards granted under the
Plan at the same time, or at any other time. The Administrator may also grant more than
one grant of Awards to a given Grantee during the term of the Plan, either in addition
to, or in substitution for, one or more Awards previously granted to that Grantee. The
grant of multiple Awards may be evidenced by a single Notice of Grant or multiple Notices
of Grant, as determined by the Administrator.  

     15.6        Non-Exclusivity
of the Plan. The adoption of the Plan by the Board shall not be construed as
amending, modifying or rescinding any previously approved incentive arrangement or as
creating any limitations on the power of the Board to adopt such other incentive
arrangements as it may deem desirable, including, without limitation, the granting of
share-based Awards otherwise than under the Plan, and such arrangements may be either
applicable generally or only in specific cases.  

	16.  	The
provisions of the Plan shall not be construed as deviating from any           applicable
laws, rules and regulations. 

NICE SYSTEMS LTD.  

ADDENDUM TO THE 2008
SHARE INCENTIVE PLAN 
FOR ISRAELI GRANTEES  

	1.  	General  

     1.1        This
addendum (the “Addendum”) shall apply only to Grantees who are residents
of the State of Israel or those who are deemed to be residents of the State of Israel for
tax purposes (collectively, “Israeli Grantees”). The provisions
specified hereunder shall form an integral part of the Nice Systems Ltd. 2008 Share
Incentive Plan (the “Plan”), which applies to the grant of Awards. 

     1.2        This
Addendum is to be read as a continuation of the Plan and only modifies the terms of
Awards granted to Israeli Grantees so that they comply with the requirements set by the
Israeli law in general, and in particular with the provisions of the Israeli Tax
Ordinance (as defined below), as may be amended or replaced from time to time. For the
avoidance of doubt, this Addendum does not add to or modify the Plan in respect of any
other category of Grantees.  

     1.3        The
Plan and this Addendum are complimentary to each other and shall be deemed as one. In any
case of contradiction with respect to Awards granted to Israeli Grantees, whether
explicit or implied, between the provisions of this Addendum and the Plan, the provisions
set out in this Addendum shall prevail.  

     1.4        Any
capitalized term not specifically defined in this Addendum shall be construed according
to the definition or interpretation given to it in the Plan.  

	2.  	Definitions  

“102 Award” means a
grant of an Award to an Israeli employee, director or other office holder of the Company,
other than to a Controlling Shareholder, pursuant to the provisions of Section 102 of the
Tax Ordinance, the 102 Rules, and any other regulations, rulings, procedures or
clarifications promulgated thereunder, or under any other section of the Tax Ordinance
that will be relevant for such issuance in the future. 

     “102(c)
          Award” means a 102 Award that will not be subject to a Taxation Route,
          as detailed in Section 102(c) of the Tax Ordinance. 

     “3(i)
          Award” means a grant of an Option or RSU to an Israeli consultant,
          contractor or a Controlling Shareholder of the Company pursuant to the
          provisions of Section 3(i) of the Tax Ordinance and the rules and regulations
          promulgated thereunder, or any other section of the Tax Ordinance that will be
          relevant for such issuance in the future. 

“Beneficial Grantee”
means the Grantee for the benefit of whom the Trustee holds an Award in Trust. 

“Capital Gains
Route” means the capital gains tax route under Section 102(b)(2) of the Tax
Ordinance. 

“Controlling
Shareholder” means a “controlling shareholder” of the Company, as such
term is defined in Section 32(9)(a) of the Tax Ordinance. 

“Minimum Trust
Period” means the minimum period of time required under a Taxation Route for
Awards and/or Exercised Shares to be held in Trust in order for the Beneficial Grantee to
enjoy to the fullest extent the tax benefits afforded under such Taxation Route, as
prescribed at any time by Section 102 of the Tax Ordinance. 

“Ordinary Income
Route” means the ordinary income route under Section 102(b)(1) of the Tax
Ordinance. 

“Rights” means
rights issued in respect of Exercised Shares, including bonus shares. 

“102 Rules” means
the Israeli Income Tax Rules (Tax Relief in Issuance of Shares to Employees), 2003. 

“Taxation Route”
means each of the Ordinary Income Route or the Capital Gains Route. 

“Tax
Ordinance” means the Israeli Income Tax Ordinance [New Version], 1961, as
amended. 

“Trust” means the
holding of an Award or Exercised Share by the Trustee in Trust for the benefit of the
Beneficial Grantee, pursuant to the instructions of a Taxation Route. 

“Trustee” means a
trustee designated by the Administrator in accordance with the provisions of Section 3
below and, with respect to 102 Awards, approved by the Israeli Tax Authorities. 

	3.  	Administration:  

     3.1        Subject
to the general terms and conditions of the Plan, the Tax Ordinance, and any other
applicable laws and regulations, the Administrator shall have the full authority in its
discretion, from time to time and at any time, to determine:  

		    (a)        With
respect to grants of 102 Awards – whether the Company shall elect the
          Ordinary Income Route or the Capital Gains Route for grants of 102 Awards, and
          the identity of the trustee who shall be granted such 102 Awards in accordance
          with the provisions of the Plan and the then prevailing Taxation Route.  

	 	        In
the event the  Administrator  determines that the Company shall elect one of the Taxation
Routes for grants of 102 Awards, all grants of 102 Awards made following such election,
shall be subject to the elected Taxation Route and the Company shall be entitled to
change such election only following the lapse of one year from the end of the tax year in
which 102 Awards are first granted under the then prevailing Taxation Route or following
the lapse of any shorter or longer period, if provided by law; and  

		    (b)        With respect
to the grant of 3(i) Awards – whether or not 3(i) Awards shall           be granted
to a trustee in accordance with the terms and conditions of the Plan,           and the
identity of the trustee who shall be granted such 3(i) Awards in           accordance
with the provisions of the Plan.  

             3.2        Notwithstanding
 the  aforesaid,  the  Administrator  may,  from time to time and at any time, grant
102(c) Awards. 

	4.  	Grant
of Awards and Issuance of Shares:  

        Subject
to the provisions of the Tax Ordinance and applicable law: 

		    (a)        All
grants of Awards to Israeli employees, directors and office holders of the
          Company, other than to a Controlling Shareholder, shall be of 102 Awards; and  

		    (b)        All
grants of Awards to Israeli consultants, contractors or Controlling
          Shareholders of the Company shall be of 3(i) Awards.  

	5.  	Trust:  

     5.1        General.  

		    (a)        In
the event Awards are deposited with a Trustee, the Trustee shall hold each           such
Award and any Exercised Shares in Trust for the benefit of the Beneficial
          Grantee.  

		    (b)        In
accordance with Section 102, the tax benefits afforded to 102 Awards (and any
          Exercised Shares) in accordance with the Ordinary Income Route or Capital Gains
          Route, as applicable, shall be contingent upon the Trustee holding such 102
          Awards for the applicable Minimum Trust Period.  

		    (c)        With
respect to 102 Awards granted to the Trustee, the following shall apply:  

		    (i)        A
Grantee granted 102 Awards shall not be entitled to sell the Exercised Shares
          or to transfer such Exercised Shares (or such 102 Awards) from the Trust prior
          to the lapse of the Minimum Trust Period; and  

		    (ii)        Any
and all Rights shall be issued to the Trustee and held thereby until the           lapse
of the Minimum Trust Period, and such Rights shall be subject to the           Taxation
Route which is applicable to such Exercised Shares.  

		    (d)        Notwithstanding
the aforesaid, Exercised Shares or Rights may be sold or           transferred, and the
Trustee may release such Exercised Shares or Rights from           Trust, prior to the
lapse of the Minimum Trust Period, provided however, that           tax is paid or
withheld in accordance with Section 102 of the Tax Ordinance and           Section 7 of
the 102 Rules, and any other provision in any other section of the           Tax
Ordinance and any regulation, ruling, procedure and clarification           promulgated
thereunder, that will be relevant, from time to time.  

		    (e)        The
Company shall register the Exercised Shares issued to the Trustee pursuant           to
the Plan, in the name of the Trustee for the benefit of the Israeli Grantees,
          in accordance with any applicable laws, rules and regulations, until such time
          that such Shares are released from the Trust as herein provided.  

	 	        If
the Company shall issue any certificates representing Exercised Shares deposited with the
Trustee under the Plan, then such certificates shall be deposited with the Trustee, and
shall be held by the Trustee until such time that such Exercised Shares are released from
the Trust as herein provided.  

		    (f)        Subject
to the terms hereof, at any time after the Awards are exercised or           vested, with
respect to any Exercised Shares the following shall apply:  

		    (i)        Upon
the written request of any Beneficial Grantee, the Trustee shall release           from
the Trust the Exercised Shares issued, on behalf of such Beneficial           Grantee, by
executing and delivering to the Company such instrument(s) as the           Company may
require, giving due notice of such release to such Beneficial           Grantee, provided,
however, that the Trustee shall not so release           any such Exercised Shares
to such Beneficial Grantee unless the latter, prior           to, or concurrently with,
such release, provides the Trustee with evidence,           satisfactory in form and
substance to the Trustee, that payment of all taxes, if           any, required to be
paid upon such release has been secured.  

		    (ii)        Alternatively,
subject to the terms hereof, provided the Shares are listed on a           Stock Market,
upon the written instructions of the Beneficial Grantee to sell           any Exercise
Shares, the Company and/or the Trustee shall use their reasonable           efforts to
effect such sale and shall transfer such Shares to the purchaser           thereof
concurrently with the receipt of, or after having made suitable           arrangements to
secure, the payment of the proceeds of the purchase price in           such transaction.
The Company and/or the Trustee, as applicable, shall withhold           from such
proceeds any and all taxes required to be paid in respect of such           sale, shall
remit the amount so withheld to the appropriate tax authorities and           shall pay
the balance thereof directly to the Beneficial Grantee, reporting to           such
Beneficial Grantee the amount so withheld and paid to said tax authorities.  

     5.2        Voting
Rights. Unless determined otherwise by the Administrator, as long as the Trustee
holds the Exercised Shares, the voting rights at the Company’s general meeting
attached to such Exercised Shares will remain with the Trustee. However, the Trustee
shall not be obligated to exercise such voting rights at general meetings nor notify the
Grantee of any Shares held in the Trust, of any meeting of the Company’s
shareholders.  

	 	        Without
derogating from the above, with respect to 102 Awards, such shares shall be voted in
accordance with the provisions of Section 102 and any rules, regulations or orders
promulgated thereunder.  

     5.3        Dividends.
Subject to any applicable law, tax ruling or guidelines of the Israeli Tax Authority, as
applicable, for so long as Shares deposited with the Trustee on behalf of a Beneficial
Grantee are held in Trust, the cash dividends paid or distributed with respect thereto
shall be distributed directly to such Beneficial Grantee, subject further to any
applicable taxation on distribution of dividends, and when applicable subject to the
provisions of Section 102 of the Tax Ordinance, the 102 Rules and the regulations or
orders promulgated thereunder.  

     5.4        Notice
of Exercise. With respect to a 102 Award held in the Trust, a copy of any Notice of
Exercise shall be provided to the Trustee, in such form and method as may be determined
by the Trustee in accordance with the requirements of Section 102 of the Tax Ordinance.  

	6.  	Notice
of grant:  

     6.1        The
Notice of Grant shall state, inter alia, whether the Awards granted to Israeli
Grantees are 102 Awards (and in particular whether the 102 Awards are granted under the
Ordinary Income Route, the Capital Gains Route or as 102(c) Awards), or 3(i) Awards. Each
Notice of Grant evidencing a 102 Award shall be subject to the provisions of the Tax
Ordinance applicable to such awards.  

     6.2        Furthermore,
each Grantee of a 102 Award under a Taxation Route shall be required: (i) to execute a
declaration stating that he or she is familiar with the provisions of Section 102 of the
Tax Ordinance and the applicable Taxation Route; and (ii) to undertake not to sell or
transfer the Awards and/or the Exercised Shares prior to the lapse of the applicable
Minimum Trust Period, unless he or she pays all taxes that may arise in connection with
such sale and/or transfer.  

	7.  	Sale:  

        In
the event of a Sale described in Section 11.5 of the Plan, with respect to Shares held in
Trust the following procedure will be applied: The Trustee will transfer the Shares held
in Trust and sign any document in order to effectuate the transfer of Shares, including
share transfer deeds, provided, however, that the Trustee receives a notice from
the Board, specifying that: (i) all or substantially all of the issued outstanding share
capital of the Company is to be sold, and therefore the Trustee is obligated to transfer
the Shares held in Trust under the provisions of Section 11.5 of the Plan; and (ii) the
Company is obligated to withhold at the source all taxes required to be paid upon release
of the Shares from the Trust and to provide the Trustee with evidence, satisfactory to the
Trustee, that such taxes indeed have been paid; and (iii) the Company is obligated to
transfer the consideration for the Shares (less applicable tax and compulsory payments)
directly to the Grantees.  

	8.  	Limitations
of Transfer:  

        In
addition to the provisions of Section 12 of the Plan, as long as Awards and/or Shares are
held by the Trustee on behalf of the Grantee, all rights of the Grantee over the Shares
are personal, can not be transferred, assigned, pledged or mortgaged, other than by will
or pursuant to the laws of descent and distribution. 

	9.  	Taxation:  

     9.1        Without
derogating from the provisions of Section 14 of the Plan, the provisions of Section 14.1
of the Plan shall apply also to actions taken by the Trustee. Accordingly, without
derogating from the provisions of Section 14.1 of the Plan, the Grantee shall indemnify
the Trustee and hold it harmless against and from any and all liability for any such Tax,
including without limitation, monetary liabilities relating to the necessity to withhold,
or to have withheld, any such Tax from any payment made to the Grantee.  

     9.2        The
Trustee shall not be required to release any Share (or Share certificate) to a Grantee
until all required Tax payments have been fully made or secured.  

     9.3        With
regards to 102 Awards, any provision of Section 102 of the Tax Ordinance, the 102 Rules
and the regulations or orders promulgated thereunder, which is necessary in order to
receive and/or to preserve any Tax treatment pursuant to Section 102 of the Tax
Ordinance, which is not expressly specified in the Plan or in this Addendum, shall be
considered binding upon the Company and the Israeli Grantee.  

     9.4        Guarantee.
In the event a 102(c) Award is granted to a Grantee, if the Grantee’s employment or
service is terminated, for any reason, such Grantee shall provide the Company, to its
full satisfaction, with a guarantee or collateral securing the future payment of all
Taxes required to be paid upon the sale of the Exercised Shares received upon exercise of
such 102(c) Award, all in accordance with the provisions of Section 102 of the Tax
Ordinance, the 102 Rules and the regulations or orders promulgated thereunder.  

APPENDIX “A”  

NICE SYSTEMS LTD.  

ADDENDUM TO THE 2008
SHARE INCENTIVE PLAN 
FOR GRANTEES WHO ARE CITIZENS OF THE UNITED STATES OR RESIDENT
ALIENS  

        Notwithstanding
anything to the contrary contained in the Plan, for an Award granted to a Grantee who is
subject to federal income tax under the laws of the United States, the following
requirements shall apply: 

        1.
          The exercise price per share under each Option shall be not less than 100% of
          the fair market value of a Share on the date of grant of such Option.  

        2.
          For all purposes of this Appendix A, the term “fair market value”          shall
mean the closing sales price of the Company’s American Depositary           Receipts
(“ADRs”) on the date of grant of such Option, as quoted on           NASDAQ,
or, if there has been no quoted closing sales price with respect to the           ADRs on
such date or if NASDAQ is not open for business on such date, the           closing price
of one ADR of the Company as quoted on the NASDAQ on the first           date following
the date of grant of such Award for which a closing sales price           is quoted.  

        3.
          Such Award shall be made, construed and administered in all respects to comply
          with the requirements of Section 409A of the Internal Revenue Code of 1986, as
          amended. Without limiting the generality of the foregoing, and notwithstanding
          Section 11.2 of the Plan to the contrary, or otherwise, the exercise price per
          share under any Option shall not be reduced after such Option is granted if
such           reduction would cause noncompliance with the requirements of Section 409A.

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