Company: BWAY
Filing Date: 2025-04-22
Form Type: F-3
Source: 0001171843-25-002378
Chunk: 35

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: F-3
Chunk 35
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 An Israeli company may exculpate an office holder in advance
from liability to the company, in whole or in part, for damages caused to the company as a result of a breach of the office holder’s
duty of care but only if a provision authorizing such exculpation is included in its articles of association. A company may not exculpate
in advance a director from liability arising due to the breach of his or her duty of care in connection with dividend or distribution
to shareholders.

Under the Israeli Companies Law, the Israeli Securities
Law, 5728-1968 (the “Securities Law”), and the Israeli Economic Competition Law, 5748-1988 (the “Economic Competition
Law”) a company may indemnify an office holder in respect of the following liabilities, payments and expenses incurred for acts
performed by him or her as an office holder, either in advance of an event or following an event, provided its articles of association
include a provision authorizing such indemnification:

| ● | a monetary liability incurred by or imposed on the office holder in favor of another person pursuant to a court judgment, including pursuant to a settlement confirmed as judgment or arbitrator’s decision approved by a competent court. However, if an undertaking to indemnify an office holder with respect to such liability is provided in advance, then such an undertaking must be limited to events which, in the opinion of the board of directors, can be foreseen based on the company’s activities when the undertaking to indemnify is given, and to an amount or according to criteria determined by the board of directors as reasonable under the circumstances, and such undertaking shall detail the abovementioned foreseen events and amount or criteria; |

| ● | reasonable litigation expenses, including reasonable attorneys’ fees, which were incurred by the office holder as a result of an investigation or proceeding filed against the office holder by an authority authorized to conduct such investigation or proceeding, provided that such investigation or proceeding was either (i) concluded without the filing of an indictment against such office holder and without the imposition on him of any monetary obligation in lieu of a criminal proceeding; (ii) concluded without the filing of an indictment against the office holder but with the imposition of a monetary obligation on the office holder in lieu of criminal proceedings for an offense that does not require proof of criminal intent; or (iii) in connection with a monetary sanction; |

| ● | a monetary liability imposed on the office holder in favor of a payment for a breach offended at