eclipse java heap git clone

When I try to clone a git repository using eclipse (kepler + EGit 3.0.3) and I ask to have the project imported into eclipse after the clone, I get a message that eclipse has run out of memory - Java Heap.

This can be fixed by changing the jvm parameter, shown in red below, in the eclipse configuration file.

-startup
plugins/org.eclipse.equinox.launcher_1.3.0.v20130327-1440.jar
--launcher.library
plugins/org.eclipse.equinox.launcher.win32.win32.x86_64_1.1.200.v20130807-1835
-product
org.eclipse.epp.package.standard.product
--launcher.defaultAction
openFile
--launcher.XXMaxPermSize
256M
-showsplash
org.eclipse.platform
--launcher.XXMaxPermSize
256M
--launcher.defaultAction
openFile
--launcher.appendVmargs
-vmargs
-Dosgi.requiredJavaVersion=1.6
-Xms40m
-Xmx1024m