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RELATED PARTIES
6 Months Ended
Dec. 31, 2012
RELATED PARTIES [Abstract]  
RELATED PARTIES

NOTE 9 - 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 Company's former CEO at the time, pursuant to which the consultant was to provide sales consulting services. Pursuant to the agreement, the consultant was entitled to a fixed fee of $625 (2,500 NIS) for each full working day and a bonus of up to $10,000 (40,000 NIS) upon the 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 this consultant, pursuant to which the consultant is entitled to options to purchase 60,871 shares of common stock at an exercise price of $5.80 per share. The revised agreement also extended the term of options to purchase 30,435 shares of common stock that were scheduled to expire upon the termination of the First Consultancy Agreement to September 2014.