Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 141

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 3
Chunk 141
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 required             
  to periodically examine the implementation of the compensation policy; and                                                                  
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  to approve transactions relating to terms of office and employment of company office                                                           

In addition, our Compensation Committee makes recommendations to
the board of directors regarding equity compensation (with the board also approving the compensation of our executive officers) and administers
our share incentive plan.

Compensation Policy

Under the Companies Law, the board of directors of a publicly traded
company is required to adopt a compensation policy according to which the compensation of the company’s office holders will be determined.
The compensation policy must be approved at least once every three years by the board of directors, after considering the recommendations
of the compensation committee, and subject to limited exceptions, by the shareholders of the company by a majority vote of the shares
present and voting at a shareholder meeting on the matter, subject to a certain special majority requirement, or the Special Majority
for Compensation, as set forth in the Companies Law, pursuant to which one of the following must be met:

  the majority of the votes voted in favor includes at least a majority of all the votes                                                        

  the total of opposing votes from among the shareholders who are non-controlling shareholders                                    

Nonetheless, even if the shareholders of the company do not approve
the compensation policy, the board of directors may still approve the compensation policy, provided that the compensation committee and,
thereafter, the board of directors determine, based on detailed, documented, reasons and after further discussion of the compensation
policy, that despite the objection of shareholders, the approval of the compensation policy is in the best interests of the company.

Our current Compensation Policy was approved at the annual general
meeting of our shareholders held in 2022. Below is a summary discussion of the main provisions of our Compensation Policy:

The Compensation Policy includes (among other things) a framework
for establishing the terms of office and employment of our office holders, a recoupment policy and guidelines with respect to the structure
of the variable pay of our office holders.

Compensation is considered performance-based to the extent that
a direct link is maintained between compensation and performance and that rewards are consistent with long-term stakeholder value creation.
At the company level, we analyze the overall compensation trends of the market in order to make informed decisions about our compensation
approach.

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According to the Compensation Policy, the fixed components of our
office holder compensation will be examined