Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 97

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 6
Chunk 97
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loses his or her personal interest a sufficient time before the approval of such act. Any such approval is subject to the terms of the Companies Law setting forth, among other things, the appropriate bodies of the company required to provide such approval.

Exculpation, Insurance and Indemnification of Office Holders

Under the Companies Law, a company may not exculpate an office holder from liability for a breach of the duty of loyalty. An Israeli company may exculpate an office holder in advance from liability, in whole or in part, for damages caused as a result of a breach of duty of care but only if a provision authorizing such exculpation is included in its articles of association.

An Israeli company may not exculpate a director from liability arising out of a prohibited dividend or other distribution to shareholders. An Israeli company may indemnify an office holder in respect of the following liabilities and expenses incurred for acts performed as an office holder, either in advance of an event or following an event, provided that a provision authorizing such indemnification is contained in its articles of association:

●                                       a financial liability imposed on him or her in favor of another                                     
         person pursuant to a judgment, including a settlement or arbitrator’s award approved by a 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 events and amount or criteria;                               
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●                                       reasonable litigation expenses, including legal fees, incurred                                   
       by the office holder (1) as a result of an investigation or proceeding instituted against him or her by an authority authorized   
        to conduct such investigation or proceeding, provided that (i) no indictment was filed against such office holder as a result    
       of such investigation or proceeding; and (ii) no financial liability, such as a criminal penalty, was imposed upon him or her as  
    a substitute for the criminal proceeding as a result of such investigation or proceeding or, if such financial liability was imposed,
       it was imposed with respect to an offense that does not require proof of criminal intent; and (2) in connection with a monetary