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Exhibit 10.1
 
March 22, 2016
 
Leslie Seff
PO Box 59, 40 Hellbrook Lane
Ulster Park, NY 12487
 
Dear Mr. Seff,
 
On behalf of Integrity Applications, Inc., a Delaware corporation (the
“Company”), I am pleased to invite you to join the Board of Directors of the
Company (the “Board”) as a director and a member of the Nominating and Corporate
Governance Committee of the Board.
 
As a member of the Board, you will be entitled to compensation under the Board’s
recently approved compensation package for non-employee directors, consisting
of: (a) an annual cash fee in the amount of $15,000, payable in four equal
quarterly installments of $3,750 each on the last day of each calendar quarter
commencing with the second quarter of 2016, subject to your continued service as
of each such date; and (b) a grant of a one-time award of options to purchase up
to an aggregate of 26,666 shares of the Company’s common stock, par value $0.001
per share, at an exercise price of $4.50 per share, under and pursuant to the
Company’s 2010 Incentive Compensation Plan, which options shall vest in eight
equal quarterly installments of 3,333.25 each, subject to your continued service
as of each such date, commencing with the second quarter of 2016.  You will also
be entitled to reimbursement for reasonable out-of-pocket expenses incurred in
connection with your service on the Board, in accordance with the Company’s
reimbursement policies, which the Company may amend from time to time. In
addition, as a member of the Board, you will be added to the Company’s Director
and Officer Liability Policy.  A copy of such policy is available for your
review upon request.
 
The Board has already approved your appointment.  If you agree to serve on the
Board, your term as a director will commence on the date on which you
communicate such acceptance (or such later date indicated in such
acceptance).  Your initial term of office will continue until the 2016 Annual
Meeting of Stockholders.  At such time you will be eligible to be nominated for
election to an additional 1-year term. If you are not re-elected, your term of
office will expire at the 2016 Annual Meeting and when your successor is elected
and qualified.
 
This letter sets forth the entire compensation you will receive for your service
on the Board. Nothing in this letter should be construed as an offer of
employment. If the foregoing terms are agreeable, please indicate your
acceptance by signing the letter in the space provided below and returning this
letter to the Company.
 

 
Sincerely,
 
Integrity Applications, Inc.
         
 
By:
/s/ Avner Gal       Name: Avner Gal       Title: Chief Executive Officer        
 

Accepted as of March 23, 2016 by:
 

/s/ Leslie Seff  
Leslie Seff
 

 
 

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