TEL AVIV, Sept 13 (Reuters) - Bank Hapoalim, Israel’s largest bank, has extended the terms of its chief executive, Zion Kenan, and its chairman, Yair Seroussi, by five years to the end of 2017.
The board decided to tighten the conditions for the stock options package granted to the CEO and chairman, if the bank’s financial results entitle them to such compensation, Hapoalim said on Thursday. As a result, the lock-up on exercising the options will be extended to two years from four.
Otherwise there will be no changes in the compensation package from the present contract, the bank said. (Reporting by Tova Cohen)