Company: BWAY
Filing Date: 2025-04-22
Form Type: F-3
Source: 0001171843-25-002378
Chunk: 37

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: F-3
Chunk 37
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nify, exculpate or insure an office holder against any of the following:

| ● | a breach of the fiduciary duty, except for indemnification and insurance for a breach of the fiduciary duty 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 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 or forfeit levied against the office holder. |

Under the Israeli 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
or controlling shareholders, their relatives and third parties in which controlling shareholders have a personal interest, also by the
shareholders.

Our articles of association and compensation policy
permit us to exculpate, indemnify and insure our office holders to the fullest extent permitted or to be permitted by law. Our office
holders are currently covered by a directors’ and officers’ liability insurance policy. As of the date of this registration
statement, no claims for directors’ and officers’ liability insurance have been filed under this policy and we are not aware
of any pending or threatened litigation or proceeding involving any of our office holders, including our directors, in which indemnification
is sought.

We have entered into agreements with each of our current
office holders exculpating them from a breach of their duty of care to us to the fullest extent permitted by law, subject to limited exceptions,
and undertaking to indemnify them to the fullest extent permitted by law, subject to limited exceptions, including, with respect to liabilities
resulting from this offering, to the extent that these liabilities are not covered by insurance. This indemnification is limited, with
respect to any monetary liability imposed in favor of a third party, to events determined as foreseeable by the board of directors based
on our activities. The maximum aggregate amount of indemnification that we may pay to our office holders based on such indemnification
agreement with respect to any monetary liability imposed in favor of a third party is the greater of (1) 25% of our shareholders’
equity less the minority rights pursuant to our audited or reviewed consolidated financial statements at the time the indemnification
is