Company: ALAR
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0001213900-25-025287
Chunk: 99

Company: Alarum Technologies Ltd.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 6
Chunk 99
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 duty of loyalty, but may exculpate
in advance an office holder from his or her liability to the company, in whole or in part, for damages caused to the company as a result
of a breach of his or her duty of care (other than in relation to distributions), but only if a provision authorizing such exculpation
is included in its articles of association. Our amended and restated articles of association provide that we may exculpate, in whole or
in part, any office holder from liability to us for damages caused to the company as a result of a breach of his or her duty of care,
but prohibit an exculpation from liability arising from a company’s transaction in which our controlling shareholder or officer
has a personal interest. Subject to the aforesaid limitations, under the indemnification agreements, we exculpate and release our office
holders 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.

Limitations

The Israeli Companies Law
provides that we may not exculpate or indemnify an office holder 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 office holder of his or her duty of loyalty unless (in
the case of indemnity or insurance only, but not exculpation) the office holder acted in good faith and had a reasonable basis to believe
that the act would not prejudice us; (2) a breach by the office holder of his or her duty of care if the breach was carried out intentionally
or recklessly (as opposed to merely negligently); (3) any act or omission committed with the intent to derive an illegal personal benefit;
or (4) any fine, monetary sanction, penalty or forfeit levied against the office holder.

Under the Israeli Companies
Law, exculpation, indemnification and insurance of office holders 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 Israeli 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 to be in accordance with the company’s compensation policy
that was approved by the shareholders by the same special majority required