Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 38

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 3
Chunk 38
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from to third parties unless otherwise approved in advance by the IIA and the Israeli Ministry of
Energy. Such prior approval may be subject to payment of increased royalties. Although such restrictions do not apply to the export from
Israel of the Company’s products developed with such Financed Know-How, they may prevent us from engaging in transactions involving
the sale, outsource or transfer of such Financed Know-How or of manufacturing activities with respect to any product or technology-based
on Financed Know-How, outside of Israel, which might otherwise be beneficial to us. Furthermore, the consideration available to our shareholders
in a transaction involving the transfer outside of Israel of Financed Know-How (such as a merger or similar transaction) may be reduced
by any amounts that we are required to pay to the IIA.

We may not be able
to enforce covenants not-to-compete to their fullest extent under current Israeli law that might result in added competition for our products.

We
have non-competition agreements with certain of our employees, such as those employees engaged in our research and development activities
or management positions, all of which are governed by Israeli law. These agreements prohibit our employees from competing with or working
for our competitors, generally during their employment and for up to 12 months after termination of their employment. However, Israeli
courts are reluctant to enforce non-compete undertakings of former employees and tend, if at all, to enforce those provisions for relatively
brief periods of time in restricted geographical areas, and only when the employee has obtained unique value to the employer specific
to that employer’s business and not just regarding the professional development of the employee. If we are not able to enforce non-compete
covenants, we may be faced with added competition.

Provisions of Israeli
law, our amended and restated articles of association and certain of our agreements may delay, prevent or otherwise impede a merger with,
or an acquisition of, us, which could prevent a change of control, even when the terms of such a transaction are favorable to us and our
shareholders.

Israeli
corporate law regulates mergers, requires tender offers for acquisitions of shares above specified thresholds, requires special approvals
for transactions involving directors, officers, or significant shareholders, and regulates other matters that may be relevant to such
types of transactions. For example, a merger may not be consummated unless at least 50 days have passed from the date on which a merger
proposal is filed by each merging