Exhibit 4.4





Convenience translation – the binding
version is the Hebrew version





Israel
Chemicals Ltd.(“ICL” or the “Company”)



Equity Compensation Plan (2014)



|1. | Title                                                                                                                                             
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                   
|   | This
        plan, as updated from time to time, shall be entitled “Israel Chemicals Ltd. – Equity Compensation Plan
        (2014)” (the “Plan”).
|   |                                                                                                                                                   
|   |                                                                                                                                                   
|2. | Purpose
    of the Plan                                                                                                                           
|   |                                                                                                                                                   
|   | 2.1                                                                                                                                               
|   | 2.2                                                                                                                                               
|   |                                                                                                                                                   
|   |                                                                                                                                                   
|3. | The
    Offerees                                                                                                                                  
|   |                                                                                                                                                   
|   | 3.1                                                                                                                                               










Convenience translation – the binding version is the Hebrew version










|4. | Terms
    of the Options
|-- | ------------------------
|   |                         
|   | 4.1                     
|   |                         
|   | 4.2                     
|   |                         
|   | 4.3                     










Convenience translation – the binding version is the Hebrew version




| |  | 4.3.1 | The
    number of Exercise Shares to which each Offeree shall be entitled at the time of exercise of Option Warrants (as defined in
    Section 6.5 hereafter), shall be calculated according to the difference between:
| |  | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | 4.3.1.1 | The
        closing rate at the Stock Exchange of the Company's share on the trading day immediately preceding the time of exercise
        (hereinafter: the “Effective Rate”), multiplied by the number of shares underlying the Option Warrants
        respecting which the exercise notice was given.
        
        And
        between:
| |  |  | ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  |  |         |                                                                                                                                                                                                                                                                                                                                                 
| |  |  | 4.3.1.2 | The Exercise Price
    multiplied by the number of shares underlying the Option Warrants respecting which the exercise notice was given.                                                                                                                                                                                                        



| |  |       | In
        the event of the cases specified in Sections 13.1-13.4 hereafter, the required adjustments shall be made.
        
        The
        said difference shall constitute the benefit amount stemming for the Offeree at the time of exercise (hereinafter: the
        “Benefit Amount”).                                                                                                                                                                                                                          
| |  | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  |       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| |  | 4.3.2 | The Company shall
    allocate to the Offerees, or transfer unto them Shares held, or to be held, by the Company or another company controlled by
    it, a quantity of Shares whose market value at the Stock Exchange on the trading day immediately preceding the time of exercise
    (minus the nominal value of the Company share, inasmuch as actually paid by the Offerees) equaling the Benefit Amount alone.
    A share fraction resulting from the aforesaid calculation shall be rounded up to a complete share.



| |  | In
        the case of Share allocation according to this Section, the following terms shall apply: the Company shall transform into
        share capital a portion of its profits or of a premium on shares or of any other source included in its equity according
        to its financial statements, up to the rate of the nominal value of the Exercise Shares, all as provided in Section 304
        of the Companies Law, 5759-1999 (the “Companies Law”). If that is not possible, the Offeree shall pay
        only the nominal value of the Exercise Shares. It is hereby clarified that in any case of Share allocation according to
        this Section, the exercise shall be executed in a manner whereby the nominal value of the Shares is paid (or capitalized,
        as the case may be) by the Company or by the Offeree, subject to any law, including the provisions of the Companies Law,
        respecting distribution.
| |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------










Convenience translation – the binding version is the Hebrew version






|5. | Vesting
    of the Options, restricted share units and\or Shares in the hands of a trustee
|-- | ------------------------------------------------------------------------------------------





|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   | The
        Option Warrants, restricted share units and\or restricted shares, shall be allocated to a trustee in accordance with the
        terms of the capital gains via trustee route as provided in Section 12.4 hereafter (the “Trustee”),
        on behalf of the Offerees, following and subject to receipt of all approvals required by law.
        
        The
        allocation date shall be the later date of either the date on which the Board approved allocation of the Option Warrants,
        restricted share units and\or restricted shares to the Offeree (or a later date as determined by the Board) or the date
        of fulfilment of all contingent conditions for the performance of such allocation (including approval by the shareholders
        meeting, to the extent required by law) (the “Allocation Date”).
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|6. | The
    exercise right, restriction and manner of exercise of the Option Warrants, restricted share units and restricted shares                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         



| | 6.1 | All
    Option Warrants, restricted share units or restricted shares allocated to the Offerees shall become exercisable (“matured”)
    over a period as determined by the Board.                                                                                                                                                                                                                                                                                                                                                                                                                        
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | 6.2 | Unless otherwise
    determined by the Board, each Offeree may exercise, according to the terms of the Plan (including as specified in Section
    9 hereafter) the Option Warrants, in whole or in part, as of the date of “maturity” of each tranche and until
    the lapse of 7 years after the Allocation Date (the “Final Exercise Date”). In case the Final Exercise
    Date occurs on a day which is not a business day in Israeli banks and on the Stock Exchange – the Final Exercise Date
    shall be postponed to the nearest next date which is also a business day of the Stock Exchange.
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | 6.3 | An Offeree who wishing
    to exercise into Shares the Option Warrants to which they are entitled, according to all terms of the Plan, shall deliver
    to the Company and the Trustee a written notice, signed by them, in the format determined by the Company (the “Exercise
    Notice”). The Exercise Notice shall include, among other things, the identity of the Offeree and the number of Option
    Warrants they seek to exercise. Discretion as to whether or not to exercise and the timing of payment of the Exercise Price
    is given to each and every Offeree and not to the Trustee.
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | 6.4 | The Offeree shall
    pay the Company the consideration owed to the Company for the Exercise Shares allocated to the Offeree according to the Exercise
    Notice in a manner determined by the Company, except in case the Company elects to exercise its right according to Section
    4.3 above.                                                                                                                                                                                                                                                                                                     
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | 6.5 | On the first trading
day after the Company receives the Exercise Notice, complete and signed by the Offeree and after the latter has paid the consideration
as provided in Section 6.3 above (the “Exercise Date”), the                                                                                                                                                                                                                                                                                                                                                                                  








Convenience translation – the binding version is the Hebrew version




| |     | Company shall allocate the Exercise Shares to the Trustee,1while, in case the Company elects to exercise its right according to Section 4.3 above, the provisions of said Section
    4.3 shall apply.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | 6.6 | Option Warrants
    not exercised by the Final Exercise Date (as provided in Section 6.2 above) shall expire, shall not grant any right to compensation
    or indemnification and shall become invalid.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | 6.7 | Exercise of the
    restricted share units into Exercise Shares shall be executed as detailed in Section 15.2 hereafter.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | 6.8 | Despite
        the aforesaid, it is hereby clarified that according to the Tel Aviv Stock Exchange Ltd. regulations, the exercise
        of Options or restricted share units into Shares shall not be executed on the effective date for the distribution of bonus
        shares, an offering by way of rights, distribution of dividend, share consolidation, share split or equity reduction (any
        one of the foregoing shall be referred to in this Section a “Company Event”), and such exercise shall
        be deferred to the subsequent trading day. Additionally, in case the X day of a Company Event occurs prior to the effective
        date of a Company Event (as these terms are defined in Stock Exchange regulations), an exercise of Options or restricted
        share units into Shares shall not be executed on such X day and the exercise shall be deferred to the subsequent trading
        day.



|7. | Rights
    attached to Exercise Shares stemming from the exercise of Option Warrants and restricted share units
|-- | ---------------------------------------------------------------------------------------------------------------



| | 7.1 | The
    Exercise Shares shall bear, immediately upon allocation thereof, equal rights for all intents and purposes, to the ordinary
    shares existing in the Company’s share capital at the time of this Plan, and shall grant, among other things, the same
    rights to receive notices and participate in general meetings of the Company, to receive dividends or any other distribution
    and to receive surplus assets in case of liquidation.                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
| | 7.2 | In any event where,
according to the terms of the Plan, an Offeree is entitled to be granted rights and\or bonus shares and\or any other right by
virtue of the Option Warrants and\or restricted share units and\or Exercise Shares (hereinafter: the “Rights”),
and at the effective date for the distribution of such Rights the Option Warrants and\or restricted share units and\or Exercise
Shares are held by the Trustee, the Rights shall be transferred unto the Trustee, who shall withhold tax according to any law,
inasmuch as applicable, and all such Rights shall be allocated to the Trustee on behalf of the Offerees and held by the Trustee
until the lapse of the minimal trust period (as defined in Section 12.4 hereafter) of the Options and\or restricted share units
for which the Rights were allocated, and the terms of the tax route shall apply to such additional Rights.










1It is
hereby clarified that, wherever in this Plan reference is made to the granting of Exercise Shares to an Offeree or the Trustee
on their behalf, as the case may be, it signifies the registration of the Shares in favor of the Offeree or Trustee, as the case
may be, with a member of the Stock Exchange, in a manner whereby such Shares are registered in the Company's Shareholders Registry
on the name of the nominee company.








Convenience translation – the binding version is the Hebrew version




| | 7.3 | In
        any case where the Company shall distribute a cash dividend and, at the effective date for such dividend distribution,
        the Trustee held Exercise Shares on behalf of any Offeree, the Company shall transfer unto the Trustee dividend amounts
        for the Exercise Shares held by the Trustee as aforesaid for each Offeree, the Trustee shall withhold tax by law, inasmuch
        as required, and thereafter transfer the dividend amounts (after tax withholding) unto the Offeree. Notwithstanding the
        provisions of Section 7.1 above, as long as, according to the terms of the Plan, Exercise Shares are held by the Trustee
        on behalf of the Offerees and have not been transferred to the Offerees, such Shares shall not grant any right to receive
        notices and to participate in general meetings of the Company.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               



|8. | Restrictions
    on execution of actions respecting the Option Warrants, restricted share units, restricted shares and Exercise Shares
|-- | --------------------------------------------------------------------------------------------------------------------------------------



| | 8.1 | Unless
    otherwise determined by the Board, the Option Warrants, restricted share units and restricted shares, as the case may be,
    constitute a personal right which cannot be transferred, assigned, encumbered, whether voluntarily or otherwise (except to
    the inheritors of a deceased Offeree by way of a last will or inheritance laws, provided that they consent to the terms thereof).
    The Option Warrants and restricted share units shall not be listed for trade on the Stock Exchange. The restricted shares
    and the Shares stemming from exercise of the Option Warrants and restricted share units shall be listed for trade on the Stock
    Exchange.
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | 8.2 | The Option Warrants,
    restricted share units and restricted shares, as the case may be, granted to Offerees who are residents of Israel, shall be
    allocated to the Trustee according to Section 102 of the Income Tax Ordinance. Accordingly, the Option Warrants, restricted
    share units and restricted shares, or the Exercise shares, as the case may be, shall be held by the Trustee, according to
    the provisions of Section 102 of the Income Tax Ordinance, for the duration of the minimal trust period, all as provided in
    Section 12 hereafter.                                                                                                            
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | 8.3 | The Trustee may
    not transfer the Option Warrants, restricted share units and restricted shares, granted according to this Plan to any third
    party, including an Offeree, except in accordance with instructions received from the Company and subject to applicable law.                                                                                                                                                                                                                                                                                                                                                                                                        
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | 8.4 | The transfer of
    rights to Option Warrants and\or restricted share units and\or restricted shares and\or Exercise Shares according to a last
    will or according to inheritance laws shall be valid and bind the Company only after the Company has been delivered the following
    approvals, signed and certified by a notary:                                                                                                                                                                                                                                                                                                                                                  



| |  | [a] | A written
    request for transfer and a copy of a legal document creating and affirming the right of such person to act with respect to
    the estate of the Offeree and which creates or affirms the right of the transferee;
| |  | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------








Convenience translation – the binding version is the Hebrew version




| |  | [b] | A written consent
    of the transferee to pay any amount respecting the Option Warrants, restricted share units and\or restricted shares in accordance
    with the Plan and consent to pay any required amount pursuant to the provisions of the Plan, as well as consent to comply
    with all provisions of the Plan;
| |  | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  |     |                                                                                                                                                                                                                                                                                                                           
| |  | [c] | Any other evidence
    required, in the view of the Board, in order to establish the right for the transfer of Option Warrants, restricted share
    units and\or restricted shares and\or Exercise Shares, and the validity of such transfer.                                                                            



| |  | The
        Exercise Shares and the restricted shares (subject to the provisions of Section 14 hereafter) are subject to restrictions
        according to the provisions of the Company’s articles of association.
| |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|9. | Terms
    of the Plan in case of termination of employment relations
|-- | --------------------------------------------------------------------



| | 9.1 | In case
    of termination of employment relations due to disability or death - the Offeree (or inheritors or transferee thereof) shall
    be entitled to exercise the matured Option Warrants which have not been exercised into Shares during a period of twelve (12)
    months following the termination of employment relations.                                                                                                                                                                 
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | 9.2 | In case of termination
    of employment relations under circumstances which, in the Company’s view, grant it legal right to terminate the employee
    without severance pay, including the perpetration of criminal offenses and breach of trust, all Option Warrants offered to
    the Offeree according to this Plan shall immediately expire at the date of giving notice of termination, including those that
    have matured and which have yet to be exercised in actuality.                 
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | 9.3 | In case of termination
    of employment relations and provided that the sum of years the Offeree’s age and period of employment with the Company
    equals or exceeds 75 years, all Option Warrants and\or restricted share units and\or restricted shares allocated thereto which
    have yet to mature by the said date of termination of employment relations, shall become mature, and may be exercised into
    Shares within 12 months after such termination of employment relations.        
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | 9.4 | In case of termination
    of employment relations on any grounds not described in Subsections 9.1-9.3 above, the Offeree shall be entitled to exercise
    only the Option Warrants which have matured until the date of their termination which have yet to be exercised into Shares,
    and which have yet to expire, and these may be exercised within a period of 90 days after such termination date. The remainder
    of Option Warrants shall expire upon the date of employment termination.






Convenience translation – the binding version is the Hebrew version




| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 9.5  | The Offeree’s
    right to Option Warrants granted them under this Plan or to the exercise thereof shall not end or expire or be accelerated
    solely due to the fact that such Offeree has transferred from the Company to a new position as an employee or officeholder
    of a company controlled by the Company, or vice versa.                                                                                                                                                                                      
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | 9.6  | The Board may change
    the provisions of this Section 9 (and\or any one thereof) at its absolute discretion.                                                                                                                                                                                                                                                                                                                                                                                                              
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | 9.7  | In this Section
    9, the date of termination of employment relations is the end date of the employee-employer relations between the Offeree
    and the Company, or the lapse of the advance notice period (or adaptation period, if any), according to the later.                                                                                                                                                                                                                                                        
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | 9.8  | In case the engagement
    with the Company of an Offeree who served as director in the Company at the time of allocation is terminated, for any reason
    whatsoever, the provisions of Sections 9.1-9.7 above shall apply, mutatis mutandis. For purposes of Section 9.7 –
    the “date of employment relations termination” shall be viewed, as pertains to directors - as the day of termination
    of a director’s term of office, for whatever reason.                                                             
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | 9.9  | The Board may determine
    that, in case of termination of an engagement with a director, in exclusion of circumstances determined by the Board, all
    Option Warrants and\or restricted share units and\or restricted shares allocated thereto which have yet to mature by the said
    date of termination of engagement, shall become mature, and also determine the period during which such Option Warrants and\or
    restricted share units may be exercised into Shares after the date of engagement termination.
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | 9.10 | In the case of termination
    of employment relations with an Offeree in the Company who was granted restricted shares, the provisions of Section 14.7 hereafter
    shall apply.                                                                                                                                                                                                                                                                                                                                          
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | 9.11 | In
the case of termination of employment relations with an Offeree in the Company who was granted restricted share units, the provisions
of Section 15.4 hereafter shall apply.                                                                                                                                                                                                                                                                                                                                             



|10. | Transfer
    of control
|--- | -----------------------



| | 10.1 | In case
    of termination of employment relations, for any reason whatsoever, except in the case specified in Section 9.2 above, during
    a period of 365 days after completion of a transfer of control over the Company, the right of the Offerees to exercise all
    Option Warrants and\or restricted share units allocated them, including those that have yet to “mature”, as the
    case may be, shall be established immediately prior to the date of termination of employment relations as aforesaid, and they
    may exercise them as of such date and until their Exercise Date as provided in Section 6.1 above. Furthermore, in the case
    specified in this Section, the restricted shares shall mature immediately prior to such termination of employment relations.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------










Convenience translation – the binding version is the Hebrew version






| | 10.2 | Subject to any law,
    the Company Board is authorized, at its sole discretion, to determine that all or part of the Option Warrants and\or restricted
    share units and\or restricted shares allocated to the Offerees, including those that have yet to mature, shall mature upon
    the date of transfer of control over the Company.
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                             
| |      | “Transfer
        of Control” – including by way of sale of shares (including in return for an exchange of shares), distribution
        of dividend in kind or allocation of shares to a third party.
        
        “Control”
        – for the purposes of this Section – as defined in the Securities Law.                            







|11. | Restructuring
    or merger                                                                                                                                                                                                                                                                                                                                                                                                                                               
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|    | In case of merger
    of the Company with or into another company, whether by way of an exchange of shares, purchase in cash or otherwise, or sale
    of all (or the vast majority) of Company assets or activity or its issued share capital or any other occurrence of a similar
    corporate nature and any similar action (all of these jointly: “Restructuring or Merger”) and subject to
    any law, the Board shall determine one of the following alternatives:



| | 11.1 | Each
    Option and\or restricted share unit shall be replaced by or converted into an option and\or restricted share unit of equal
    value in the new company resulting from the Merger or sale, and the Board may make for such purpose changes in the Exercise
    Price, if and inasmuch as required, all subject to the Board’s discretion; or                                                                                                                 
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | 11.2 | Each Option and\or
    restricted share unit shall be adopted by the new company so that it may be exercised into a share of the new company, subject
    to adjustments and changes as determined by the Board; or                                                                                                                                                                                                                                                   
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | 11.3 | Each Option and\or
    restricted share unit shall be cancelled or returned to the Company, and the Company shall pay the entitled employee a pecuniary
    compensation for the cancellation or return of such Option and\or restricted share unit, provided that the value of the benefit
    entailed in such compensation is no less than the value entailed in such benefit as measured at the time of cancellation or
    return, as the case may be; as well as
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | 11.4 | Any action and\or
    similar adjustment respecting the Options and\or restricted share units and the terms thereof, to the extent required according
    to its discretion.                                                                                                                                                                                                                                                                                          
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | 11.5 | Upon completion
    of such Restructuring or Merger, the Options and\or restricted share units shall expire.                                                                                                                                                                                                                                                                                                                                                          
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | 11.6 | Treatment of the
    restricted shares shall be according to the treatment of ordinary Company shares in the case of Restructuring or Merger, subject to the maturity periods of the restricted shares.                                                                                                                                                                                                                                                               










Convenience translation – the binding version is the Hebrew version




| | For
        purposes of this Section, the term “new company” shall refer to the company with which a merger is
        executed, with which a sale transaction is executed or which would come in the stead of the Company following such Restructuring
        or Merger or any similar transaction. For the removal of doubt it is hereby clarified that, in case that control over
        the Company is transferred as a result of a Restructuring or Merger event, the provisions of Section 10 above shall apply.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|12. | Tax
    implications and allocation to the Trustee with respect to Offerees residing in Israel                                                                                                
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    | Following are the
    details of certain provisions respecting taxation for the allocation of the Options and\or restricted share units and\or restricted
    shares and the exercise thereof:



| | 12.1 | Any
    tax liability for the allocation of the Options and\or restricted share units and\or restricted shares to the Offerees (including
    income tax, capital gains tax, national insurance and health tax) and any other compulsory payment applicable due to the granting
    of the Option Warrants and\or restricted share units and\or restricted shares, the exercise thereof or the sale of Exercise
    Shares and\or restricted share units and\or restricted shares and\or released shares, shall apply to the Offerees. The Trustee
    and the Company may withhold any amount that must be withheld by law.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | 12.2 | The Option Warrants
    and\or restricted share units and\or restricted shares allocated to Offerees in Israel shall be subject to the provisions
    of Section 102 of the Income Tax Ordinance and all Regulations promulgated by virtue thereof (jointly, above and below: “Section
    102”). The Company has elected that the allocation of Offerees who are residents of Israel shall be via a trustee,
    in the capital gains route.                                                                                                                                                                               
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | 12.3 | The provisions of
    Section 102 respecting the capital gains route provide, among other things, as of the time of this Plan, as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  



| |  | ·The Options and\or restricted share units and\or restricted shares and the Shares received by the exercise of the Options
        and\or restricted share units shall be held by a trustee for a period of no less than two years after the Allocation Date;
        
        ·The income obtained by the Offeree from the allocation of the Options and\or restricted share units and\or restricted
        shares shall not be taxable at the time of allocation;
        
        ·The tax liability in the hands of the employee respecting the “benefit value portion” at the Allocation Date of the
Options and\or restricted share units and\or restricted shares shall be calculated according to the tax rate applying to the employee.
For this purpose, the “benefit value portion” shall be calculated according to the average value of the Company share
at the Stock Exchange in the 30 trading days preceding the Allocation Date of the Options and\or restricted share units and\or
restricted shares, after
deduction of the cost of exercising the Options and\or restricted share units and\or restricted shares, as the case may be;
| |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------










Convenience translation – the binding version is the Hebrew version




| |      | ·      
The remaining benefit value shall be liable to tax at the rate applying to capital gains according to Section 102 (currently 25%);



·      
In the allocation of Options and\or restricted share units and\or restricted shares as aforesaid, the company employing the Offeree
may enter a salary expense at the amount of the employee’s income, to which tax shall apply according to the marginal tax
rate. With respect to the employee’s benefit value subject to the tax rate applying to capital gains according to Section
102 (currently 25%), the company may not enter an expense for tax purposes.



The aforesaid should not be viewed as taxation
advice, and each Offeree should examine the taxation status applicable to thereto and decide whether and how to act according to
their specific personal circumstances.                                                                                                                                                                                                                                                
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | 12.4 | Accordingly:
        
        ·Allocation to Offerees shall not take place except after the requirements of the capital gains route provided in Section
        102 of the Income Tax Ordinance have been met.
        
        ·Prior to the allocation of the Options and\or restricted share units and\or restricted shares to
        the Offerees, the Company         shall engage with a trustee (the “Trustee”), who shall hold the Option
        Warrants and\or restricted share         units and\or restricted shares in trust on behalf of the Offerees until exercise of
        the Option Warrants and\or restricted         share units (or the expiration thereof, as the case may be), or until the lapse
        of the restriction of the restricted shares,         as the case may be, and shall also hold the Exercise Shares received by
        the exercise of the Option Warrants and\or restricted         share units as well as the restricted shares until the lapse of
        at least 24 months after the Allocation Date (the “Minimal         Trust Period”).
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | 12.5 | Notwithstanding
    any other provision in this Section, it is clarified that the transfer of Exercise Shares and\or restricted shares and\or
    released shares from the Trustee unto an Israeli Offeree or from an Israeli Offeree to any third party (including the sale
    thereof) shall only be possible after the lapse of the Minimal Trust Period and payment of the applicable tax. Despite the
    aforesaid, a transfer of Exercise Shares and\or restricted shares and\or the released shares may be allowed even prior to
    the lapse of the Minimal Trust Period, after payment or withholding of tax inasmuch as required, and shall be executed in
    accordance with the provisions, terms and arrangements as agreed upon between the Company and the Trustee and subject to the
    provisions of Section 102 or the provisions of any law and to any agreement with tax authorities.                                                                                                                                                                                     
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | 12.6 | Despite all of the
    above and below statements, Offerees according to this Plan may also include Offerees whose place of residence and employment
    is outside Israel, and therefore the provisions of Section 102 may be                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     








Convenience translation – the binding version is the Hebrew version






| |  |                                                                                                                                                                                                                                                                                                                                                                                       
| |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  | inapplicable to them. The Options and\or restricted
    share units and\or restricted shares for such Offerees shall be vested at the Allocation date in the hands of the Trustee,
    and exercise of Options and\or restricted share units shall be done through the Trustee in the same manner provided in this
    Plan without the application of restrictions under Section 102.



| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | The
        contents of this Section 12 does not presume to be an authorized interpretation of legal provisions relating to the taxes
        which may apply in connection with the granting of offered Options, restricted share units and restricted shares to the
        Offerees, and does not substitute legal and professional advice in the matter. Each of the Offerees (including Offerees
        as specified in Section 12.6 above) should consider the various taxation implications and aspects and consult their professional
        advisors, including legal and taxation advice, taking into account their particular circumstances.





|13. | Adjustments
    due to distribution of bonus shares and\or allocation by way of rights and\or split or consolidation of capital and\or distribution
    of dividend
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 13.1 | In case
    the Company distributes bonus shares after the allocation of Option Warrants or restricted share units according to this Plan,
    then the number of Exercise Shares for the exercise of Option Warrants or restricted share units yet to be exercised into
    Shares and yet to expire until the effective date respecting the right to receive bonus shares, shall be increased by way
    of adding the appropriate number, without additional payment, of shares to which the Offeree was entitled as bonus shares
    had they exercised the Options or restricted share units which have yet to be exercised by the effective date respecting the
    right to receive bonus shares, immediately prior to the effective date respecting the distribution of such bonus shares. It
    is hereby clarified that the Exercise Price of the Options or restricted share units (insofar as determined) shall not change
    in the case of distribution of bonus shares; however, the payment for each share shall be reduced accordingly, by virtue of
    the increase in the number of Shares stemming from each Option or restricted share unit.
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | 13.2 | In case the Company
    offers its shareholders securities of any kind by way of issuance of rights, the Exercise Price of the Option Warrants or
    restricted share units (insofar as determined) shall not be adjusted; however, the number or Exercise shares for the exercise
    of Option Warrants or restricted share units yet unexercised at the effective date respecting the right to acquire rights
    in the issuance of rights, shall be adjusted according to the benefit component entailed in the rights, which shall be calculated
    according to Stock Exchange guidelines, as shall be in force at the effective date.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | 13.3 | In any case of split
    or consolidation of the Company’s share capital, or any corporate capital event of a substantially similar nature, the
    Company shall execute the changes or adjustments required in order to prevent dilution or expansion of the rights of an Offeree
    within the framework of this Plan as pertain to the number or class of Exercise Shares underlying                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           










Convenience translation – the binding version is the Hebrew version




| |      | the Options or restricted
    share units yet unexercised by the Offeree and\or as pertain to the Exercise Price of each Option or restricted share unit
    (insofar as determined).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
| | 13.4 | In case the Company
    distributes a cash dividend, the effective date for the distribution thereof shall occur after the allocation of Option Warrants
    according to this Plan, then on the X day the Exercise Price of Option Warrants yet unexercised and yet unexpired until that
    time shall be reduced by the amount of the dividend per share (gross) according to its ILS amount. For the removal of doubt,
    the Exercise Price shall not in any event be reduced below the nominal value per share. It is hereby clarified that the provisions
    of this Section 13.4 shall not apply to Offerees who are residents of the United States and\or subjected to U.S. tax laws.
    Adjustments due to the distribution of a dividend distributed for restricted shares shall be made according to Section 14.5
    hereafter.
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
| | 13.5 | In any case where,
    as a result of the adjustments described in this Section, the Company is required to allocate share fractions, the Company
    shall not allocate share fractions as aforesaid, and the number of Shares allocated to an Offeree shall be rounded up to the
    nearest complete share.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
| | 13.6 | It
        is hereby clarified that an Offeree’s right to additional Exercise Shares as a result of adjustments according to
        the provisions of this Section 13 shall only apply at the time of exercise of the Option Warrants or restricted share
        units.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      





|14. | Shares
    and restricted shares
|--- | --------------------------------



| | 14.1 | Subject
    to the sole discretion of the Board, the Board may grant, according to this Plan, Shares and\or restricted shares, as defined
    hereafter, instead of or in addition to any grant of Options. The Shares and\or restricted shares shall be granted in consideration
    of an amount equal to the nominal value of the Company shares. Despite the aforesaid, the Board may determine at its sole
    discretion, that the Offerees shall not pay the nominal value of the Shares and\or restricted shares upon the granting thereof
    and that the Company shall capitalize a portion of its profits into share capital or take any other action permitted by law
    in the case of issuance of shares for an amount lower than their nominal value, all according to applicable law, including
    in accordance with Section 304 of the Companies Law.
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| | 14.2 | Restricted shares
    are shares subject to restrictions respecting transferability and which may not be transferred or sold until the lapse of
    their maturity period and the lifting of restrictions applying thereto (the “Restricted Shares”). Upon
    the lapse of the maturity period of each Restricted Share, and fulfilment of the other conditions for its maturity, insofar
    as applicable, the restrictions imposed on such share shall be automatically lifted and it shall become an ordinary Company
    share (the “Released Shares”).                                                                                                                                                                                                                                                                                                             
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           








Convenience translation – the binding version is the Hebrew version




| | 14.3 | The Board may grant
    Restricted Shares contingent upon performance, according to parameters as determined by the Board.                                                                                                                                                                                                                                                                                                                                                                                                                           
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | 14.4 | The Restricted Shares
    shall bear, immediately upon allocation, rights equal, for all intents and purposes, to the ordinary shares existing in the
    Company’s share capital at the time of this Plan, and grant, among other things, the same rights to receive notice and
    participate in the general meetings of the Company (subject to the provisions of Section 14.6 hereafter), to receive dividends
    (subject to the provisions of Section 14.5 hereafter) or any other distribution and to receive surplus assets in liquidation.
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | 14.5 | Notwithstanding
    the aforesaid, a dividend distributed for Restricted Shares which have yet to mature shall be held by the Trustee pending
    maturity of the Restricted Shares for which the dividend was distributed, which shall thereafter be transferred to the Offeree,
    after tax has been lawfully withheld by the Trustee. A dividend distributed for matured Restricted Shares shall be transferred
    directly to the Offeree, after tax has been lawfully withheld by the Trustee.                                               
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | 14.6 | Voting rights– as long as the Restricted Shares have not matured according to the provisions of this Plan and the restrictions
    imposed thereupon are not lifted, voting rights respecting them shall be possessed by the Trustee alone. The Trustee shall
    not be obliged to exercise his voting right. After the Shares have matured, the provisions of Section 7 of this Plan shall
    apply.                                                                                                                                              
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | 14.7 | Termination
    of employment relations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              



| |  | 14.7.1 | Unless
    otherwise resolved by the Board, upon termination of employment relations, all Restricted Shares allocated to an Offeree according
    to this Plan and whose maturity period has yet to lapse shall be returned to the Company without consideration. In addition,
    the dividend distributed for such immature Restricted Shares and held by the Trustee shall also be returned to the Company.
    The matured Restricted Shares shall be transferred to the Offeree (and not returned to the Company), and accordingly, the
    dividend distributed for them shall be transferred to the Offeree. Despite the aforesaid, Restricted Shares whose maturity
    is contingent on performance conditions without an undertaking of continued employment or service with the Company, as the
    case may be, shall not be returned to the Company upon termination of employment relations, but rather at the time of failure
    to meet such performance conditions.
| |  | ------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  |        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| |  | 14.7.2 | In case of termination
    of employment relations under circumstances which, in the Company’s view, grant it legal right to terminate the employee’s
    employment without severance pay, including the perpetration of criminal offenses and breach of trust, the matured Restricted
    Shares which have not been sold or transferred and the dividend for them shall also be returned to the Company immediately
    and without consideration.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                








Convenience translation – the binding version is the Hebrew version




| |  | 14.7.3 | The
        provisions of Section 9.3 relating to the maturity acceleration of Restricted Shares shall apply, as the case may be,
        also to Section 14.
| |  | ------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------



|15. | Restricted
    share units
|--- | --------------------------



| | 15.1 | Subject
    to the sole discretion of the Board, the Board may grant, according to this Plan, restricted share units, as defined hereafter
    (“Restricted Share Units”), instead of or in addition to any grant of Options. At the time of exercise
    the Offerees shall pay an amount equal to the nominal value of Company shares stemming from such exercise. Despite the aforesaid,
    the Board may determine at its sole discretion, that the Offerees shall not pay the nominal value of the Restricted Share
    Units at the time of exercise thereof and that the Company shall capitalize a portion of its profits into share capital or
    take any other action permitted by law in the case of issuance of shares for an amount lower than their nominal value, all
    according to applicable law, including in accordance with Section 304 of the Companies Law.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | 15.2 | A Restricted Share
    Unit is a right to receive a Company share, after the lapse of the maturity period of the Restricted Share Unit and the lifting
    of the restrictions applying thereto, without requiring any additional action on the part of the Offeree (without giving an
    Exercise Notice). Upon the lapse of the maturity period of each Restricted Share Unit and the fulfilment of the additional
    conditions for such maturity, if applicable, such Restricted Share Unit shall be automatically exercised and become a Share
    transferrable and released of all restrictions, subject to payment of its nominal value to the Company by the Offeree (“Restricted
    Share Unit”).                                                                                                                                                                         
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | 15.3 | The Board may grant
    Restricted Share Units contingent on performance, according to parameters as determined by the Board.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | 15.4 | Termination
    of employment relations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                



| |  | 15.4.1 | Unless
    otherwise resolved by the Board, in case of termination of employment relations between the Offeree and the Company, for any
    reason whatsoever (including in case of death or disability), all Restricted Share Units granted to an Offeree and whose maturity
    period has yet to lapse until the time of termination of employment relations, shall immediately expire and shall no longer
    be legally valid. Despite the aforesaid, Restricted Share Units whose maturity is contingent on performance conditions without
    an undertaking of continued employment or service with the Company, as the case may be, shall not expire upon termination
    of employment relations, but rather at the time of failure to meet such performance conditions.
| |  | ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------








Convenience translation – the binding version is the Hebrew version




| |  | 15.4.2 | In case of termination
    of employment relations under circumstances which, in the Company’s view, grant it legal right to terminate the employee’s
    employment without severance pay, including the perpetration of criminal offenses and breach of trust, Exercise Shares stemming
    from the exercise of the Restricted Share Units and which have not been sold or transferred and the dividend for them shall
    also be returned to the Company immediately and without consideration.
| |  | ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  |        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| |  | 15.4.3 | The
        provisions of Section 9.3 relating to the maturity acceleration of Restricted Shares shall apply, as the case may be,
        also to Section 15.                                                                                                                                                                                                                                                                                                                                       



|16. | Undertakings
    of the Offerees
|--- | --------------------------------



| | 16.1 | Upon
        allocation of the Option Warrants, Restricted Share Units or Restricted Shares, the Company shall deliver unto each Offeree
        a letter of granting respecting the number of Option Warrants, Restricted Share Units or Restricted Shares which such
        Offeree is entitled to receive within the framework of this Plan. Upon receipt of the Option Warrants, Restricted Share
        Units or Restricted Shares according to the Plan, the Offeree shall undertake and declare as follows: (1) that they consent
        to and approve that they have received and read the Plan and the letter of granting and that they agree to all the terms
        thereof, including and without derogating from the generality of the aforesaid, their consent to bear all tax liabilities
        and other compulsory payments resulting from the allocation of the Option Warrants, Restricted Share Units or Restricted
        Shares, the exercise thereof or the sale of Exercise Shares and\or Released Shares, as the case may be, and including
        their consent and authorization to the Company to withhold any applicable tax as aforesaid (including, if required –
        from the number of Option Warrants, Restricted Share Units or Restricted Shares and\or Exercise Shares and\or Released
        Shares, as the case may be); (2) that they undertake to comply with all the terms specified in Section 102 (including
        provisions pertaining to the tax route), the Rules of Section 102, the Plan, the letter of granting and the Letter of
        Trusteeship; (3) that, subject to the provisions and terms of Section 102 and the Rules, the Offeree undertakes not to
        sell or remove the Exercise Shares or Restricted Shares and\or Released Shares from trusteeship prior to the lapse of
        the Minimal Trust Period; and (4) that the Offeree undertakes to comply with the procedure for the exercise of the Option
        Warrants, Restricted Share Units or Restricted Shares and for the sale of Exercise Shares or Restricted Shares and\or
        Released Shares, as the case may be, as agreed between the Company and the Trustee.
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------








Convenience translation – the binding version is the Hebrew version






|17. | Governing
    law
|--- | -----------------





| | The
        Plan and all documents attached thereto, delivered or signed by the Company or companies under its control with respect
        to the Plan, shall be interpreted, administered and subjected to the laws of the State of Israel.
        
        The
        allocation of Options, Restricted Share Units and Restricted Shares according to this Plan is subject to receipt of the
        approvals and permits required by law.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|18. | Powers
    of the Company Board                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|    | The
        Company Board is authorized to interpret the provisions of the Plan and to issue any complementary or clarifying provision
        with respect to the execution of the Plan, insofar as required according to the Board's discretion.
        
        Without
        derogating from the generality of the aforesaid, it is hereby clarified that, subject to any law,2 the Company
        Board is authorized, at its sole discretion, to exercise all powers required for the purpose of administering the Plan,
        including determining the identity of the Offerees, determining the number of Options, Restricted Share Units and Restricted
        Shares allocated to each Offeree, determining the allocation dates, determining Exercise Price, determining the maturity
        period, expiry date of Option Warrants, conditions for the lifting of restrictions applying to the Restricted Shares,
        and also, in cases as the Board sees fit – to accelerate the maturity dates of the Option Warrants, Restricted Share
        Units and Restricted Shares which have yet to mature (in whole or in part), with respect to all Offerees or any part thereof.
        The Board is also authorized to make any other decision required for or relating to the Plan, whether or not mentioned
        in this Plan.
        
        Furthermore,
        subject to any law, the Company Board is authorized to amend, at its sole discretion, the provisions of the Plan (and
        the documents attached thereto), provided that any such amendment of a provision of the Plan does not contravene the provisions
        of Section 102 and does not violate the rights of the Offerees according to the Plan without first obtaining the consent
        of the Offerees who, at the time of such proposed amendment, have been granted Options, Restricted Share Units which have
        yet to be exercised and have yet to expire according to the Plan and, respecting Restricted Shares, the restriction period
        thereof has yet to lapse.
        
        The
        Board may delegate to its Compensation and Human Resources Committee its powers to designate to specific Offerees (who
        are not officeholders) the Options, Restricted Share Units and Restricted Shares allocated to the Trustee, all in accordance
        with and subject to the provisions of Section 288(b)(1) of the Companies Law and applicable law.





|19. | Duration
    of the Plan and amendments thereto                                                                                                                                                                                                                                                                              
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                              
|    | The
Plan shall expire upon the earliest of: (1) the lapse of 10 years after the date the Plan was adopted by the Board (6 August 2014),
or (2) the expiration of all Options, Restricted Share Units allocated according to the Plan due to Restructuring or Merger, or
as a result of any other event. However, all Options,










2The provisions
of this Section do not derogate from the powers of the Compensation and Human Resources Committee by law and according to Company
procedures.






Convenience translation – the binding version is the Hebrew version




| | Restricted Share Units allocated according
to the Plan and yet to be exercised in the case specified in Paragraph (1) above shall remain in effect according to the provisions
of the Plan, and all instructions in the Plan shall continue to apply to them.



The Board may, from time to time, terminate or alter this Plan
in any way it desires and within that framework, update the maturity periods and exercise dates as it deems fit, as well as resolve
any question of policy, efficiency, interpretation and implementation which may arise following the execution of the Plan.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|20. | No
    undertaking to continue employment                                                                                                                                                                                                                                                                                                                                                                                      
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                
|    | The
        granting of Options, Restricted Share Units and Restricted Shares to the Offerees according to the Plan shall not be interpreted
        as imposing any duty on the Company and\or companies under its control to continue the employment of any Offeree and\or
        as limiting them in the termination of employment of any Offeree and\or as granting an Offeree a right to continue being
        employed.



|21. | Reserved
    shares                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|    | The
        Company shall take care to maintain, within its registered capital, a sufficient number of shares for the purpose of allocating
        Options, Restricted Share Units and Restricted Shares according to this Plan.
        
        The
        Board may determine prior to the allocation of the Option Warrants, Restricted Share Units or Restricted Shares according
        to this Plan that, subject to any law, the Shares stemming from the exercise of the Option Warrants or Restricted Share
        Units and also the Restricted Shares allocated, shall be made out of treasury shares (as defined in Section 308 of the
        Companies Law) held by the Company.



|22. | Notices
    respecting the Plan                                                                                                                                                                                                  
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                  
|    | All notices given
    by the Company to the Offerees shall be given via a written notice delivered to each Offeree at their place of employment
    or at their address as registered with the Company or at their email address.