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RELATED PARTIES
3 Months Ended
Sep. 30, 2012
RELATED PARTIES [Abstract]  
RELATED PARTIES

NOTE 8 - RELATED PARTIES:

 

On July 2, 2012, effective August 1, 2012, InspireMD Ltd. (a wholly-owned subsidiary of the Company) entered into a consultancy agreement (the "First Consultancy Agreement") with a member of the immediate family of the CEO, pursuant to which the consultant would be retained for sales services. Pursuant to the agreement, she would be entitled to a fixed fee of $625 (2,500 NIS) for each full working day and a bonus fee up to $10,000 (40,000 NIS) upon 100% achievement of set objectives. The First Consultancy Agreement was terminated on September 30, 2012.

 

On August 27, 2012, InspireMD Ltd. entered into a revised consultancy agreement (the "Second Consultancy Agreement") with a member of the immediate family of the CEO, pursuant to which, the consultant would be retained for sales and marketing services. Pursuant to the agreement, she is entitled to options to purchase 243,483 shares of common stock at an exercise price of $1.45 per share. The revised agreement also extended to September 2014 the exercise date on 121,740 options scheduled to expire upon the termination of the First Consultancy Agreement