Company: GAUZ
Filing Date: 2025-07-03
Form Type: F-3
Source: 0001213900-25-061387
Chunk: 45

Company: Gauzy Ltd.
Filing Date: 2025-07-03
Form: F-3
Chunk 45
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8-1988, or, the Competition     
 Law.                                                                                                                                          |

An Israeli company may
insure an office holder against the following liabilities incurred for acts performed as an office holder if and to the extent provided
in the company’s articles of association:

| ● | a breach of the duty of loyalty to the company, to the extent                                                                  
 that the office holder acted in good faith and had a reasonable basis to believe that the act would not prejudice the company; |

| ● | a breach of the duty of care to the company or to a third party,              
 including a breach arising out of the negligent conduct of the office holder; |

| ● | financial liabilities imposed on the office holder in favor 
 of a third party;                                           |

| ● | financial liabilities imposed in an administrative proceeding                                                                           
 on the office holder in favor of a third party harmed by a breach, pursuant to certain provisions of the Israeli Securities Law and the 
 Competition Law; and                                                                                                                    |

<div align='center'>II-1</div>

| ● | expenses, including reasonable litigation expenses and attorneys’                                                                             
 fees, incurred by the office holder as a result of an administrative proceeding instituted against him or her, pursuant to certain provisions 
 of the Israeli Securities Law and the Competition Law.                                                                                        |

An Israeli company may
not indemnify, insure or exculpate an office holder against any of the following:

| ● | a breach of the duty of loyalty, except to the extent that the                                                        
 office holder acted in good faith and had a reasonable basis to believe that the act would not prejudice the company; |

| ● | a breach of the duty of care committed intentionally or recklessly,           
 excluding a breach arising out of the negligent conduct of the office holder; |

| ● | an act or omission committed with intent to derive illegal personal 
 benefit; or                                                         |

| ● | a fine, monetary sanction or forfeit levied against the office 
 holder.                                                        |

Under the Companies Law,
exculpation, indemnification and insurance of office holders must be approved by the compensation committee and the board of directors
(and, with respect to directors and the chief executive officer, also by the shareholders). However, under regulations promulgated under
the Companies Law, the insurance of office holders does 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 stated compensation policy, which was approved
by the shareholders by the same special majority required to approve a compensation