Company: EVGN
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001178913-25-001092
Chunk: 158

Company: Evogene Ltd.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 4A
Chunk 158
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 Chief Executive Officer, by a special majority, as described
above under “ - Approval of Related Party Transactions under Israeli Law - Disclosure of Personal Interests of an Officer
Holder and Approval of Certain Transactions”, unless an applicable exemption applies).

Our articles of association allow us to indemnify and insure our
office holders for any liability imposed on them as a consequence of an act which was performed by virtue of being an office holder. Our
shareholders have approved an amendment to our articles of association that extends such indemnification and insurance to cover omissions
by our office holders (in their role as such) as well. Our office holders are currently covered by a directors’ and officers’
insurance policy.

We have entered into agreements with each of our directors and
executive officers. Each such agreement exculpates our director or officer, 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. This indemnification is limited to events determined as foreseeable by the board of directors based on our activities, and to
an amount or according to criteria determined by the board of directors as reasonable under the circumstances.

The maximum indemnification amount set forth in such agreements
is limited to an amount equal to 25% of our shareholders’ equity as reflected in our most recent consolidated financial statements
prior to the date on which the indemnity payment is made. If the amount equal to 25% of our shareholders’ equity is insufficient
to cover all indemnity amounts payable with respect to all indemnifiable directors and executive officers, such amount will be allocated
among our directors and executive officers pro rata, in accordance with their relative culpabilities, as finally determined by a court
with respect to a particular claim. The maximum amount set forth in such agreements is in addition to any amount paid (if paid) under
insurance and/or by a third party pursuant to an indemnification arrangement. In the opinion of the SEC, indemnification of directors
and office holders for liabilities arising under the Securities Act is against public policy and therefore unenforceable.

93

D. Employees

The total number of employees in Evogene and its subsidiaries as
of December 31, 2022,2023 and 2024 was 137,142 and 117 respectively. As of December 31, 2024, our research and development activities
involved 75 employees amounting to approximately