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Ossur Hf : New Share Option Program

Announcement from Össur hf. No.24/2015
Reykjavik, 27 May 2015

Össur - New Share Option Program

Today, Össur hf. implemented a new share option program for the CEO and
Executive Management, and managers in strategic positions. The purpose of the
share incentive program is to attract and retain management team and key
leaders and reward for the delivery of long-term strategy. That way the
interest of the shareholders and management are aligned and the Company is
provided with competitive compensation tool to drive and motivate team
performance culture. The key terms and conditions of the new share option
program were approved by the Annual General Meeting on 12thMarch 2015 in
accordance with the Company's Remuneration Policy.

Up to 6,000,000 share options may be issued and outstanding at each time under
the share option program, exercisable into the same amount of shares,
corresponding to approximately 1.3 % of the total share capital of the
Company. At this time 1,800,000 share options have been granted; 1,300,000 to
the President&CEO and Executive Management and 500,000 share options have
been granted to managers in strategic positions. The exercise price is DKK
21.88 determined in accordance with the terms of the share option program,
i.e. the Company's average share price on NASDAQ Copenhagen 20 trading days
prior to the grant date. The options shall vest in 3 years from the grant
date and can be exercised for a period of one year during open trading

Details of the share options granted to the President&CEO and Executive

| Name Position Options Price Vesting date Total options* Current shares** |
| |
|Jón Sigurðsson |
| President&CEO 625,000 21.88 27 May 2018 1,875,000 539,806 |
| Egill Jónsson Executive VP M&O 225,000 21.88 27 May 2018 725,000 818,499 |
| Ólafur Gylfason Executive VP Sales&Marketing 225,000 21.88 27 May 2018 375,000 6,539 |
| Þorvaldur Ingvarsson Executive VP R&D 225,000 21.88 27 May 2018 725,000 0 |

* Previously granted options have all vested.
** In addition Mr. Sigurðsson's financially linked parties hold 3,324 shares and Mr. Jónsson's financially linked parties hold 4,250 shares.Other key terms and conditions:

* If the share options cannot be settled with shares, e.g. due to currency
restrictions, the Company shall pay to the participants the difference of
the exercise price and the market price on the day of exercise.
* Participants are required to hold shares, corresponding to 5% of the profit
gained of the share options after deduction of taxes, until their
employment with the Company is terminated (if share settlement is
* In general, the share options will lapse if the participants are no longer
employed with the Company. The Company may decide to waive this condition,
including if a participant becomes disabled or dies.
* The Company shall not grant any loans or guarantees to participants in
connection with the share options.

The Company's cost of the new share option program is estimated to be USD 1.17
million a year for the next three years based on the option pricing model of

About Össur

Össur (NASDAQ: OSSR) is a global leader in non-invasive orthopaedics that
helps people live a life without limitations. Its business is focused on
improving people's mobility through the delivery of innovative technologies
within the fields of braces, supports, prosthetic limbs and compression
therapy. A recognized "Technology Pioneer", Össur invests significantly in
research and product development; its award-winning designs ensuring a
consistently strong position in the
market.Successful patient and clinical outcomes are further empowered via
educational programs and business solutions. Headquartered in Iceland, Össur
has major operations in the Americas, Europe and Asia, with additional
distributors worldwide.

Forward-Looking Statements

This press release includes "forward-looking statements" which involve risks
and uncertainties that could cause actual results to differ materially from
results expressed or implied by these statements. Össur hf. undertakes no
obligation and does not intend to update these forward-looking statements to
reflect events or circumstances occurring after this press release. You are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. All forward-looking
statements are qualified in their entirety by this cautionary statement.


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ossur Hf via Globenewswire


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