Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 153

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 3
Chunk 153
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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 compensation policy was approved by the shareholders by the same special
majority required to approve a compensation policy, and 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.

Our Articles of Association permit us to exculpate, indemnify and
insure our office holders to the fullest extent permitted by law. We have entered into agreements with each of our directors and executive
officers exculpating them, to the fullest extent permitted by law, from liability to us for damages caused to us as a result of a breach
of duty of care, and undertaking to indemnify them to the fullest extent permitted by law. The indemnification for a monetary liability
imposed in favor of another person pursuant to a judgment, including a settlement or arbitrator’s award approved by a court, is
limited to events determined as foreseeable by the board of directors based on our activities, and to an amount determined by the board
of directors as reasonable under the circumstances. The maximum indemnification amount for all office holders, cumulatively, for
one or more of such events, shall be equal to the higher of (i) 25% of our total shareholders’ equity as reflected in our audited
annual financial statements for the year preceding the year in which the event for which the indemnity is sought occurred, and (ii) $5
million. The terms of such agreements are consistent with the provisions of our Compensation Policy that was approved by our shareholders
in July 2022. However, in the opinion of the SEC, indemnification of office holders for liabilities arising under the Securities
Act is against public policy and therefore unenforceable.

Our office holders are currently covered by a directors’
and officers’ liability insurance policy. The terms of such directors’ and officers’ insurance are consistent with the
provisions of our current Compensation Policy that was approved by our shareholders in July 2022.

As of the date of this Annual Report on Form 20-F, except as disclosed
in Item 8. A below, no claims have been filed under our directors’ and officers’ liability insurance policy, there is no pending
litigation or proceeding against any of our directors or officers as to which indemnification is being sought, nor are we aware of any
pending