Company: BNRG
Filing Date: 2025-06-13
Form Type: POS AM
Source: 0001213900-25-054302
Chunk: 71

Company: Brenmiller Energy Ltd.
Filing Date: 2025-06-13
Form: POS AM
Chunk 71
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 but only if a provision authorizing such exemption is included
in its articles of association. Our amended and restated articles of association provide that we may exempt, in whole or in part, any
officeholder from liability to us for damages caused to the company as a result of a breach of his or her duty of care. Subject to the
aforesaid limitations, under the indemnification agreements, we exempt and release our officeholders from any and all liability to us
related to any breach by them of their duty of care to us to the fullest extent permitted by law.

Exemption letters were
granted to each of our officeholders and were approved for any future officeholders.

Limitations

The Companies Law provides
that we may not exempt or indemnify an officeholder nor enter into an insurance contract that would provide coverage for any liability
incurred as a result of any of the following: (1) a breach by the officeholder of his or her duty of loyalty unless (in the case of indemnity
or insurance only, but not exemption) the officeholder acted in good faith and had a reasonable basis to believe that the act would not
prejudice us; (2) a breach by the officeholder of his or her duty of care if the breach was carried out intentionally or recklessly (as
opposed to merely negligently); (3) an act committed with the intention of making a personal profit unlawfully; or (4) any fine, monetary
sanction, penalty or forfeit levied against the officeholder.

Under the Companies Law,
exemption, indemnification and insurance of officeholders in a public company must be approved by the compensation committee and the
board of directors (and, with respect to directors and the chief executive officer, by the shareholders). However, under regulations
promulgated under the Companies Law, the insurance of office holders shall not require shareholder approval and may be approved by only
the compensation committee, if the engagement terms are determined in accordance with the company’s compensation policy that was
approved by the shareholders by the same special majority required to approve a compensation policy, provided that the insurance policy
is on market terms and the insurance policy is not likely to materially impact the company’s profitability, assets or obligations.
In addition, under regulations promulgated under the Companies Law, the insurance of office holders of a company in which there is a
controlling shareholder who is also an office holder, a board approval is also required, subject to meeting the a