Exhibit
10.10 


 


FORM
OF INDEMNIFICATION AGREEMENT


 


THIS
INDEMNIFICATION AGREEMENT (this “Agreement”) is made as of, by and between
eToro Group Ltd., a company incorporated under the laws of the British Virgin Islands with company number 1550822 (the “Company”),
and [Name], a Covered Person (as defined below) (the “Indemnitee”).


 


WHEREAS,
the Indemnitee has agreed to serve as a Covered Person of the Company and in such capacity will render valuable services to the Company;


 


WHEREAS,
the substantial increase in corporate litigation subjects directors and officers to expensive litigation risks at the same time that
the availability of directors’ and officers’ liability insurance and coverage available thereunder has been severely limited;


 


WHEREAS,
in order to induce and encourage highly experienced and capable persons such as the Indemnitee to serve as directors and officers of
the Company, the board of directors of the Company (the “Board”) has determined
that it is reasonably prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on
behalf of, such persons;


 


WHEREAS,
the Company does not regard the protection currently available to the Indemnitee as adequate in the present circumstances, and realizes
that the Indemnitee may not be willing to serve as a Covered Person without adequate protection and cover from potential liability arising
in performing tasks and functions as a Covered Person, and the Company desires the Indemnitee to serve in such capacity; and


 


WHEREAS,
this Agreement is a supplement to and in furtherance of the indemnification provided in the M&As or otherwise by law or statute applicable
to the Company, any resolution adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any
rights of each Indemnitee thereunder.


 


NOW,
THEREFORE, in consideration of the premises and mutual agreements hereinafter set forth, and other good and valuable consideration, including,
without limitation, the service of the Indemnitee, the receipt of which hereby is acknowledged, and in order to induce the Indemnitee
to serve, or continue to serve, as a Covered Person of the Company, the Company and the Indemnitee hereby agree as follows:


 


1. Definitions.
As used in this Agreement:


 


a. “M&As”
shall mean the memorandum and articles of association of the Company (as amended from time to time).


 


b. “Change
in Control” shall mean:


 


(i) any
“person” (as such term is used in Sections 13(d) and 14(d) of the United States Securities Exchange Act of 1934, as amended,
and the rules and regulations promulgated thereunder (collectively, the “Act”)),
but excluding (1) the Company, (2) any trustee or other fiduciary holding securities pursuant to an employee benefit or welfare plan
or employee share plan of the Company or any subsidiary or affiliate of the Company, or any entity organized, appointed, established
or holding securities of the Company with voting power for or pursuant to the terms of any such plan and (3) any entity owned, directly
or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of stock of the Company, becomes
the “beneficial owner” (as defined in Rule 13d-3 under the Act), directly or indirectly, of securities of the Company representing
25% or more of the combined voting power of the Company’s then outstanding securities without the prior approval of at least majority
of the directors in office immediately prior to such person’s attaining such interest;


 






     


     


    

 


(ii) any
merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting securities
of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding
or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities
of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of
the Board or other governing body of such surviving entity;


 


(iii) the
approval by the shareholders of the Company of a complete liquidation of the Company or an agreement for the sale or disposition by the
Company, in one transaction or a series of related transactions, of all or substantially all of the Company’s assets;


 


(iv) during
any period of two (2) consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning
of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement
with the Company to effect a transaction described in clause (i), (ii) or (iii) of this definition of Change in Control) whose election
by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors
then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously
so approved, cease for any reason to constitute a majority of the members of the Board; and


 


(v) any
other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response
to any similar item or any similar or successor schedule or form) promulgated under the Act whether or not the Company is then subject
to such reporting requirements.


 


c. “Claim”
shall mean any threatened, asserted, pending or completed action, suit or proceeding, whether civil, criminal, administrative, investigative
or other, including any arbitration or other alternative dispute resolution mechanism, or any appeal of any kind thereof, or any inquiry
or investigation, in each case whether instituted by (or in the right of) the Company or any other party, in which Indemnitee was, is,
may be or will be involved as a party, witness or otherwise.


 


d. “Covered
Person” shall have the meaning given to such term in the M&As.


 


e. “Disinterested
Director” with respect to any request by the Indemnitee for indemnification or advancement of expenses hereunder shall
mean a director of the Company who neither is nor was a party to the Proceeding (as defined below) in respect of which indemnification
or advancement is being sought by the Indemnitee.


 


f. The
term “Expenses” includes reasonable attorneys’ fees and all other reasonable
costs, expenses and obligations paid or incurred by an Indemnitee in good faith in connection with investigating, defending, being a
witness in or participating in (including on appeal), or preparing to investigate, defend, be a witness in or participate in, any Claim
relating to any Proceeding.


 






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g. The
term “Independent Legal Counsel” shall mean any firm of attorneys that is
experienced in matters of applicable law and reasonably selected by the Board, so long as such firm is not presently representing and
has not in the preceding five (5) years represented the Company, the Company’s subsidiaries or affiliates, the Indemnitee, any
entity controlled by the Indemnitee, or any party adverse to the Company in any matter material to any such party (other than with respect
to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements). Notwithstanding
the foregoing, the term “Independent Legal Counsel” shall not include any person who, under applicable standards of professional
conduct then prevailing, would have a conflict of interest in representing either the Company or the Indemnitee in an action to determine
the Indemnitee’s right to indemnification or advancement of expenses under this Agreement, the M&As, which became effective
immediately after the Company’s initial public offering, applicable law or otherwise.


 


h. The
term “Proceeding” shall mean any threatened, pending or completed action,
suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, hearing or any other proceeding (including, without
limitation, an appeal therefrom), formal or informal, whether brought in the name of the Company or otherwise, whether of a civil, criminal,
administrative or investigative nature, and whether by, in or involving a court or an administrative, other governmental or private entity
or body (including, without limitation, an investigation by the Company or its Board), in which the Indemnitee was, is or will be involved
as a party or otherwise, by reason of (i) the fact that the Indemnitee is or was a director (or a director appointee) or an executive
officer of the Company, or is or was serving at the request of the Company as an agent of another enterprise, (ii) any actual or alleged
act or omission or neglect or breach of duty, including, without limitation, any actual or alleged error or misstatement or misleading
statement, which the Indemnitee commits or suffers while acting in any such capacity, or (iii) the Indemnitee attempting to establish
or establishing a right to indemnification or advancement of expenses pursuant to this Agreement, the M&As, applicable law or otherwise,
in each case whether or not the Indemnitee is acting or serving in any such capacity at the time any liability or expense is incurred
for which indemnification can be provided under this Agreement.


 


i. The
phrase “serving at the request of the Company as an agent of another enterprise”
or any similar terminology shall mean, unless the context otherwise requires, serving at the request of the Company as a director, officer,
employee or agent of another corporation, partnership, joint venture, limited liability company, trust, employee benefit or welfare plan
or other enterprise, foreign or domestic. The phrase “serving at the request of the Company” shall include, without limitation,
any service as a director or an executive officer of the Company which imposes duties on, or involves services by, such director or executive
officer with respect to the Company or any of the Company’s subsidiaries, affiliates, employee benefit or welfare plans, such plan’s
participants or beneficiaries or any other enterprise, foreign or domestic. In the event that the Indemnitee shall be a director, officer,
employee or agent of another corporation, partnership, joint venture, limited liability company, trust, employee benefit or welfare plan
or other enterprise, foreign or domestic, 50% or more of the ordinary shares, combined voting power or total equity interest of which
is owned by the Company or any subsidiary or affiliate thereof, then it shall be presumed conclusively that the Indemnitee is so acting
at the request of the Company.


 






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2. Indemnification.
Subject to Section 6 below, the Company hereby agrees to hold harmless and indemnify the Indemnitee to the fullest extent permitted by
law, as such may be amended from time to time. In furtherance of the foregoing indemnification and without limiting the generality thereof:


 


a. Proceedings
by or in the Right of the Company. The Company shall indemnify the Indemnitee if the Indemnitee is a party to or threatened to be
made a party to or is otherwise involved in any Proceeding by or in the right of the Company to procure a judgment in its favor against
all Expenses which are actually and reasonably incurred by the Indemnitee in connection with such a Proceeding, if the Indemnitee acted
in good faith and in a manner the Indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company;
except that no indemnification under this subsection shall be made in respect of any claim, issue or matter as to which the Indemnitee
shall have been adjudicated by final judgment by a court of competent jurisdiction to be liable to the Company for dishonesty, willful
default or fraud in the performance of his/her duty to the Company, unless and only to the extent that the court in which such Proceeding
was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the
case, the Indemnitee is fairly and reasonably entitled to indemnity for such amounts which such court shall deem proper.


 


b. Proceedings
Other than Proceedings by or in the Right of the Company. The Company shall indemnify the Indemnitee if the Indemnitee is a party
to or threatened to be made a party to or is otherwise involved in any Proceeding (other than a Proceeding by or in the right of the
Company) against all Expenses which are actually and reasonably incurred by the Indemnitee in connection with such a Proceeding, if the
Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in, or not opposed to, the best interests of
the Company.


 


c. Indemnification
for Expenses of Witness. Notwithstanding any other provision of this Agreement, to the extent that the Indemnitee, has prepared to
serve or has served as a witness or is made to respond to discovery requests in any Proceeding to which the Indemnitee is not a party,
the Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by the Indemnitee in connection therewith.


 


d. Partial
Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a
portion of Expenses incurred in connection with any Proceedings, but not, however, for all of the total amount thereof, the Company shall
nevertheless indemnify Indemnitee for the portion of such Expenses to which Indemnitee is entitled.


 


3. Contribution.
If the indemnification provided in Section 2 above is unavailable to Indemnitee for any reason (other than those set forth in Section
6 below) in connection with a Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding),
the Company, in lieu of indemnifying Indemnitee thereunder, shall contribute to the amount of Expenses which are actually and reasonably
incurred and paid or payable by the Indemnitee in such proportion as is deemed fair and reasonable, in the sole discretion of the Company,
in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and the
Indemnitee and/or (ii) the relative fault of the Company and such Indemnitee in connection with the transaction or events from which
such Proceeding arose. The relative fault of the Company and the Indemnitee shall be determined, in the sole discretion of the Company,
by reference to, among other things, the parties’ relative intent, knowledge, access to information and opportunity to correct
or prevent the circumstances resulting in such Expenses.


 


4. Advancement
of Expenses. The Expenses incurred by the Indemnitee in any Proceeding shall be paid promptly by the Company in advance of the
final disposition of the Proceeding at the written request of the Indemnitee to the fullest extent permitted by applicable law;
provided, however, that the Indemnitee shall set forth in such request reasonable evidence that such Expenses have been incurred by the
Indemnitee in connection with such Proceeding and an undertaking in writing to repay any advances if it is ultimately determined as provided
in subsection 5(b) of this Agreement that the Indemnitee is not entitled to indemnification under this Agreement, the M&As, applicable
law or otherwise.


 






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5. Indemnification
Procedure; Determination of Right to Indemnification.


 


a. Promptly
after receipt by the Indemnitee of notice of the commencement of any Proceeding, the Indemnitee shall, if a claim for indemnification
in respect thereof is to be made against the Company under this Agreement, notify the Company of the commencement thereof in a written
request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably
necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The omission to so notify the Company will
not relieve the Company from any liability which the Company may have to the Indemnitee under this Agreement unless the Company shall
have lost significant substantive or procedural rights with respect to the defense of any Proceeding as a result of such omission to
so notify.


 


b. The
Indemnitee shall be conclusively presumed to be entitled to indemnification under this Agreement unless a determination is made that
the Indemnitee is not entitled to indemnification under this Agreement, the M&As, applicable law or otherwise by one of the following
two methods, which, if there has not been a Change in Control, shall be at the election of the Board: (i) by a majority vote of the Board
of a quorum consisting of Disinterested Directors or (ii) if a quorum of the Board consisting of Disinterested Directors is not obtainable
or, even if obtainable, said Disinterested Directors so direct, by Independent Legal Counsel in a written opinion to the Board, a copy
of which shall be delivered to the Indemnitee. If a Change of Control shall have occurred and the Indemnitee so requests in writing,
such determination shall be made only by Independent Legal Counsel in the manner set forth in this subsection.


 


c. If
(i) a determination is made that the Indemnitee is not entitled to indemnification under this Agreement or (ii) a claim for indemnification
or advancement of Expenses under this Agreement is not paid by the Company within thirty (30) days after receipt by the Company of written
notice thereof, the Indemnitee is entitled to an adjudication in any court of competent jurisdiction. Such judicial proceeding shall
be made de novo. The burden of proving that indemnification or advances are not appropriate shall be on the Company. Neither the failure
of the directors of the Company or Independent Legal Counsel to have made a determination prior to the commencement of such action that
indemnification or advancement of Expenses is proper in the circumstances because the Indemnitee has met the applicable standard of conduct,
if any, nor an actual determination by the directors of the Company or Independent Legal Counsel that the Indemnitee has not met the
applicable standard of conduct shall be a defense to an action by the Indemnitee or create a presumption for the purpose of such an action
that the Indemnitee has not met the applicable standard of conduct. The termination of any Proceeding by judgment, order, settlement
or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself (i) create a presumption that the Indemnitee
did not act in good faith and in a manner which he reasonably believed to be in the best interests of the Company and/or its shareholders,
and, with respect to any criminal Proceeding, that the Indemnitee had reasonable cause to believe that his conduct was unlawful or (ii)
otherwise adversely affect the rights of the Indemnitee to indemnification or advancement of Expenses under this Agreement, except as
may be provided herein.


 


d. If
a court of competent jurisdiction shall determine that the Indemnitee is entitled to any indemnification or advancement of Expenses hereunder,
the Company shall pay all Expenses actually and reasonably incurred by the Indemnitee in connection with such adjudication (including,
but not limited to, any appellate proceedings).


 


e. With
respect to any Proceeding for which indemnification or advancement of Expenses is requested, the Company will be entitled to participate
therein at its own expense and, except as otherwise provided below, to the extent that it may wish, the Company may assume the defense
thereof, with counsel reasonably satisfactory to the Indemnitee. After notice from the Company to the Indemnitee of its election to assume
the defense of a Proceeding, the Company will not be liable to the Indemnitee under this Agreement for any Expenses subsequently incurred
by the Indemnitee in connection with the defense thereof, other than as provided below. The Company shall not settle any Proceeding in
any manner which would impose any penalty or limitation on the Indemnitee without the Indemnitee’s written consent. The Indemnitee
shall have the right to employ his own counsel in any Proceeding, but the fees and expenses of such counsel incurred after notice from
the Company of its assumption of the defense of the Proceeding shall be at the expense of the Indemnitee, unless (i) the employment of
counsel by the Indemnitee has been authorized by the Company, (ii) the Indemnitee shall have reasonably concluded that there may be a
conflict of interest between the Company and the Indemnitee in the conduct of the defense of a Proceeding, or (iii) the Company shall
not in fact have employed counsel to assume the defense of a proceeding, in each of which cases the fees and expenses of the Indemnitee’s
counsel shall be advanced by the Company. The Company shall not be entitled to assume the defense of any Proceeding brought by or on
behalf of the Company or as to which the Indemnitee has reasonably concluded that there may be a conflict of interest between the Company
and the Indemnitee.


 






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f. Indemnitee
shall give the Company such information and cooperation as it may reasonably require and as shall be within Indemnitee’s power.
Subject to Section 3, the Company shall not be liable to indemnify the Indemnitee under this Agreement with regard to any judicial action
if the Company was not given a reasonable and timely opportunity, at its expense, to participate in the defense, conduct and/or settlement
of such action.


 


6. Limitations
on Indemnification. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement
to make any indemnity in connection with any claim made against the Indemnitee:


 


a. in
connection with any Proceeding initiated or brought voluntarily by the Indemnitee and not by way of defense, unless (i) the Board authorized
the Proceeding prior to its initiation or (ii) the Proceeding is to enforce indemnification rights under this Agreement, the M&As,
applicable law or otherwise and either (A) Indemnitee is successful in such Proceeding in establishing Indemnitee’s right, in whole
or in part, to indemnification or advancement of Expenses hereunder (in which case such indemnification or advancement shall be to the
fullest extent permitted by this Agreement) or (B) the court in such Proceeding shall determine that, despite Indemnitee’s failure
to establish his or her right to indemnification, Indemnitee is entitled to indemnity for such expenses (in which case such indemnification
or advancement shall be to the extent provided by such court);


 


b. in
connection with the Indemnitee preparing to serve or serving, prior to a Change in Control, as a witness in voluntary cooperation with
any non-governmental or non-regulatory party or entity who or which has threatened or commenced any action or proceeding against the
Company, or any director, officer, employee, trustee, agent, representative, subsidiary, parent corporation or affiliate of the Company,
but such indemnification may be provided by the Company if the Board finds it to be appropriate;


 


c. for
which payment has actually been made to the Indemnitee under a valid and collectible insurance policy, except in respect of any excess
beyond the amount of payment under such insurance policy;


 


d. for
an accounting of profits made from the purchase or sale by the Indemnitee of securities of the Company pursuant to the provisions of
Section 16(b) of the Act or similar provisions of any foreign or United States federal, state or local statute or regulation;


 


e. for
which the Indemnitee is indemnified and actually paid other than pursuant to this Agreement;


 


f. for
conduct that is finally adjudged by a court of competent jurisdiction to have been caused by the Indemnitee’s dishonesty, willful
default or fraud, including, without limitation, breach of the duty of loyalty, unless and only to the extent that the court in which
such Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances
of the case, the Indemnitee is fairly and reasonably entitled to indemnity for such amounts which such court shall deem proper;


 






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g. if
a court of competent jurisdiction finally determines that such indemnification is unlawful. In this respect, the Company and the Indemnitee
have been advised that the Securities and Exchange Commission (the “SEC”)
takes the position that indemnification for liabilities arising under securities laws is against public policy and is, therefore, unenforceable
and that claims for indemnification should be submitted to appropriate courts for adjudication;


 


h. in
connection with the Indemnitee’s personal tax matters;


 


i. subject
to the proviso in Section 6(a) hereof, in connection with any dispute or breach arising under any contract or similar obligation between
the Company or any of its subsidiaries or affiliates and such Indemnitee; or


 


j. in
connection with any reimbursement made by Indemnitee to the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley
Act”), Section 306 of the Sarbanes-Oxley Act or Section 954 of the Dodd–Frank Wall Street Reform and Consumer
Protection Act and the rules promulgated by the SEC thereunder.


 


7. Insurance.
To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees,
or agents or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise that such person serves at the request of the Company, the Indemnitee shall be covered by such policy or policies in accordance
with its or their terms to the maximum extent of the coverage available for any director, officer, employee, agent or fiduciary under
such policy or policies. If, at the time of the receipt of a notice of a Proceeding pursuant to the terms hereof, the Company has directors’
and officers’ insurance in effect, the Company shall give prompt notice of the commencement of such Proceeding to the insurers
in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable
action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such Proceeding in accordance with
the terms of such policies.


 


8. No
Employment Rights. Nothing in this Agreement is intended to create in the Indemnitee any right to continued employment with the
Company.


 


9. Continuation
of Indemnification. All agreements and obligations of the Company contained herein shall continue during the period that the
Indemnitee is a Covered Person (or is or was serving at the request of the Company as an agent of another enterprise, foreign or domestic)
and shall continue thereafter so long as the Indemnitee shall be subject to any Proceeding by reason of the fact that the Indemnitee
is or was a Covered Person or is or was serving in any other capacity referred to in this Section 9. This Agreement shall continue in
effect regardless of whether the Indemnitee continues to serve as a Covered Person or as an agent of another enterprise at the Company’s
request.


 


10. Indemnification
Hereunder Not Exclusive. The indemnification provided by this Agreement shall not be deemed to be exclusive of any other rights
to which the Indemnitee may be entitled under the M&As, any agreement, vote of shareholders or vote of Disinterested Directors, provisions
of applicable law, or otherwise, both as to action or omission in the Indemnitee’s official capacity and as to action or omission
in another capacity on behalf of the Company while holding such office.


 


11. Coverage
of Indemnification. The indemnification provided by this Agreement
shall cover the Indemnitee’s service as a Covered Person of the Company (or service at the request of the Company as an agent of
another enterprise, foreign or domestic) prior to or after the date of this Agreement.


 






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12. Other
Indemnity Agreement. Other than this Agreement, the Company has not entered into as of the date hereof, and shall not enter into
following the date hereof, any indemnification agreement or side letter or other similar agreement or arrangement (collectively, an “Indemnity
Agreement”), or amend any existing Indemnity Agreement, with any existing or future director/executive officer of the
Company that has the effect of establishing rights or otherwise benefiting such director/executive officer in a manner more favorable
in any respect than the rights and benefits established in favor of the Indemnitee by this Agreement, unless, in each such case, the
Indemnitee is offered the opportunity to receive the rights and benefits of such Indemnity Agreement. All Indemnity Agreements shall
be in writing.


 


13. Assignment;
Successors and Assigns. Neither this Agreement nor any of the rights or obligations hereunder may be assigned by either party
thereto without the prior written consent of the other party, except that the Company may, without such consent, assign all such rights
and obligations to a successor in interest to the Company which assumes all obligations of the Company under this Agreement in a written
agreement in form and substance satisfactory to the Indemnitee. Notwithstanding the foregoing, this Agreement shall be binding upon and
inure to the benefit of and be enforceable by and against the parties hereto and the Company’s successors (including any direct
or indirect successor by purchase, merger, consolidation, or otherwise to all or substantially all of the business and/or assets of the
Company) and assigns, as well as the Indemnitee’s spouses, heirs, and personal and legal representatives.


 


14. Subrogation.
In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery
of the Indemnitee, who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to
enable the Company effectively to bring suit to enforce such rights.


 


15. No
Duplication of Payments. The Company shall not be liable under this Agreement to make any payment in connection with any Claim
made against Indemnitee to the extent Indemnitee has otherwise actually received payment (under any insurance policy, the M&As or
otherwise) of the amounts otherwise indemnifiable hereunder.


 


16. Severability.
Each and every section, sentence, term and provision of this Agreement is separate and distinct so that if any section, sentence, term
or provision thereof shall be held to be invalid, unlawful or unenforceable for any reason, such invalidity, unlawfulness or unenforceability
shall not affect the validity, lawfulness or enforceability of any other section, sentence, term or provision hereof. To the extent required,
any section, sentence, term or provision of this Agreement may be modified by a court of competent jurisdiction to preserve its validity
and to provide the Indemnitee with the broadest possible indemnification permitted under applicable law. The Company’s inability,
pursuant to a court order or decision, to perform its obligations under this Agreement shall not constitute a breach of this Agreement.


 


17. Savings
Clause. If this Agreement or any section, sentence, term or provision hereof is invalidated on any ground by any court of competent
jurisdiction, the Company shall nevertheless indemnify the Indemnitee as to any Expenses which are incurred with respect to any Proceeding
to the fullest extent permitted by any (a) applicable section, sentence, term or provision of this Agreement that has not been invalidated
or (b) applicable law.


 






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18. Interpretation;
Governing Law. This Agreement shall be construed as a whole and in accordance with its fair meaning and any ambiguities shall
not be construed for or against either party. Headings are for convenience only and shall not be used in construing meaning. This Agreement
shall be governed and interpreted in accordance with British Virgin Islands laws without regard to the conflict of laws principles thereof.
Each of the parties to this Agreement irrevocably agrees that the courts of the British Virgin Islands shall have nonexclusive jurisdiction
to hear and determine any claim, suit, action or proceeding, and to settle any disputes, which may arise out of or are in any way related
to or in connection with this Agreement, and, for such purposes, irrevocably submits to the nonexclusive jurisdiction of such courts.


 


19. Amendments.
No amendment, waiver, modification, termination or cancellation of this Agreement shall be effective unless in writing signed by the
party against whom enforcement is sought. The indemnification rights afforded to the Indemnitee hereby are contract rights and may not
be diminished, eliminated or otherwise affected by amendments to the M&As, or by other agreements, including directors’ and
officers’ liability insurance policies, of the Company.


 


20. Counterparts.
This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become
effective when one or more counterparts have been signed by each party and delivered to the other.


 


21. Notices.
Any notice required to be given under this Agreement shall be directed to the General Counsel of the Company at c/o eToro Group Ltd.,
30 Sheshet Hayamim St., Bnei Brak, Israel 5120261, and to the Indemnitee at or to such other address as the Indemnitee shall designate
to the Company in writing.


 


22. Entire
Agreement. This Agreement constitutes the entire agreement and supersedes all prior agreements and understandings, both written
and oral, between the parties with respect to the subject matter hereof.


 


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IN
WITNESS WHEREOF, the parties have executed this Indemnification Agreement as of the date first written above.


 





	 	ETORO GROUP LTD.
	 	 	 
	 	By:	 
	 		Name:	 
	 		Title:	 
	 	 	 
	 	INDEMNITEE
	 	 	 
	 	By:	 
	 		Name:	 
	 		Title:	 


 


 


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