Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 144

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 3
Chunk 144
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 the limitations on variable compensation components which
are set out in the Compensation Policy. In all events, the weight of all the variable components (out of the total compensation amount
which is to be granted for any year) will not be greater than 80% for each office holder and may vary from one office holder to the other.

79

According to the Companies Law, our Compensation Policy provides
that in the event of an accounting restatement, we shall be entitled to recover from office holders’ bonus compensation granted,
earned or vested based on a pre-accounting restatement of our financial results in the amount of the excess over what would have been
paid under the accounting restatement, with a three-year look-back period. However, the compensation recovery will not be triggered in
the event of a financial restatement required due to changes in applicable financial reporting standards. In addition, in November
2023 we adopted an Executive Officer Clawback Policy in accordance with the rules of the SEC and Nasdaq.

All compensation arrangements of office holders are to be approved
in the manner prescribed by applicable law. Our Compensation Committee will review the Compensation Policy on an annual basis, and monitor
its implementation, and recommend to our board of directors and shareholders to amend the Compensation Policy as it deems necessary from
time to time.

Investment Monitoring Committee

Our board of directors has established an Investment Monitoring
Committee which currently consists of the following three members: our directors Dr. Sandra Panem (Chairperson) and Mr. Rami Dar; Ms.
Mali Zeevi, our Chief Financial Officer; and Mr. Raziel Fried, our Treasurer and Budgetary Control Director. The role of the Investment
Monitoring Committee includes providing recommendations to our board of directors regarding investment guidelines and performing an on-going
review of the fulfillment of established investment guidelines. The Investment Monitoring Committee convenes for meetings in accordance
with our needs, but in any event at least twice per year.

Internal Auditor

Under the Companies Law, the board of directors of an Israeli public
company must appoint an internal auditor recommended by the audit committee and nominated by the board of directors. An internal auditor
may not be:

  a person (or a relative of a person) who holds more than 5% of the company’s  

  a person (or a relative of a person) who has the power to appoint a director or the  

  an executive officer or director of the company (or a relative thereof); or  

  a member of the company’s independent accounting firm