Exhibit 10.02


 


FORM OF SUPPORT AGREEMENT


 


THIS
SUPPORT AGREEMENT, dated as of June 17, 2021 (this “Agreement”), is between Rafael Pharmaceuticals, Inc., a Delaware
corporation (the “Company”), and the undersigned (the “Stockholder”).


 


WHEREAS,
concurrently with the execution of this Agreement, the Company, Rafael Holdings, Inc., a Delaware corporation (“Parent”),
RH Merger I, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Parent (“Merger Sub I”), and RH
Merger II, LLC, a Delaware limited liability company and a direct, wholly owned subsidiary of Parent (“Merger Sub II”),
are entering into an Agreement and Plan of Merger (the “Merger Agreement”), providing for, among other things,
the merger of Merger Sub I with and into the Company (the “Merger”), with the Company surviving the Merger and becoming
a direct, wholly owned subsidiary of Parent, followed by the merger of the Company with and into Merger Sub II (the “Subsequent
Merger”), with Merger Sub II surviving the Subsequent Merger as a direct, wholly owned subsidiary of Parent, in each case on
the terms and subject to the conditions set forth in the Merger Agreement;


 


WHEREAS,
as of the date hereof, the Stockholder and the Stockholders Family Members are the record and beneficial owner of the number of shares
of Parent Class A Common Stock and Parent Class B Common Stock set forth opposite such Stockholder’s and Family Member’s name
on Schedule A (such shares of Parent Common Stock, together with any other shares of capital stock of Parent acquired by the
Stockholder after the date hereof and during the term of this Agreement, being collectively referred to as the “Subject Shares”
of the Stockholder); and


 


WHEREAS,
as a condition to its willingness to enter into the Merger Agreement, the Company has requested that the Stockholder enter into this Agreement,
and the Stockholder desires to enter into this Agreement to induce the Company to enter into the Merger Agreement.


 


NOW,
THEREFORE, the parties hereto, intending to be legally bound hereby, agree as follows:


 


ARTICLE I


 


Definitions; Interpretation


 


SECTION
1.01. Definitions. (a) For purposes of this Agreement, the following terms shall have the following meanings:


 


“Agreement”
has the meaning set forth in the preamble.


 


“Company”
has the meaning set forth in the preamble.


 


“Merger”
has the meaning set forth in the recitals.


 


“Merger
Agreement” has the meaning set forth in the recitals.


 


“Merger
Sub I” has the meaning set forth in the recitals.


 






     


     


    

 


“Merger
Sub II” has the meaning set forth in the recitals.


 


“Parent”
has the meaning set forth in the recitals.


 


“Stockholder”
has the meaning set forth in the preamble.


 


“Subject
Shares” has the meaning set forth in the recitals.


 


“Subsequent
Merger” has the meaning set forth in the recitals.


 


“Transfer”
has the meaning set forth in Section 3.03.


 


(b)
Capitalized terms used but not defined herein shall have the meanings given to such terms in the Merger Agreement.


 


SECTION
1.02. Interpretation. When a reference is made in this Agreement to an Article, Section, recital, preamble or Schedule, such
reference shall be to an Article, Section, recital, preamble or Schedule of this Agreement unless otherwise indicated. The headings herein
are for convenience of reference only, do not constitute part of this Agreement and shall not be deemed to limit or otherwise affect any
of the provisions hereof. Unless the express context otherwise requires: (i) whenever the words “include,” “includes”
or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”;
(ii) the words “hereto,” “hereof,” “herein” and “hereunder” and words of similar import
when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement; (iii) the
terms defined in the singular have a comparable meaning when used in the plural and vice versa; (iv) any pronoun used in this Agreement
shall include the corresponding masculine, feminine and neutral forms; (v) the term “or” is not exclusive and has the
meaning represented by the phrase “and/or”; (vi) the word “extent” in the phrase “to the extent” shall
mean the degree to which a subject or other thing extends and such phrase shall not mean simply “if” and (vii) except
as otherwise specifically provided herein, all references in this Agreement to any statute include the rules and regulations promulgated
thereunder, in each case as amended, re-enacted, consolidated or replaced from time to time and in the case of any such amendment, re-enactment, consolidation
or replacement, reference herein to a particular provision shall be read as referring to such amended, re-enacted, consolidated
or replaced provision and also include, unless the context otherwise requires, all applicable guidelines, bulletins or policies made in
connection therewith. The parties have participated jointly in negotiating and drafting this Agreement. In the event that an ambiguity
or a question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties, and no presumption
or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement. As used
in this Agreement, a Stockholder’s undertaking to use “reasonable best efforts” to cause any trust to take any action
or to refrain from taking any action shall specifically mean recommending such course of action to the trustee(s) of such trust as being
in the best interest of the trust and its beneficiaries, recognizing that whether or not a trustee determines to adopt such course of
action remains a decision to be made by such trustee in the exercise of its fiduciary duties to the applicable trust.


 


ARTICLE II


 


Representations and
Warranties of Each Stockholder


 


The
Stockholder represents and warrants to the Company that:


 


SECTION
2.01. Organization. In the event that such Stockholder is an entity, such Stockholder is duly organized, validly existing
and in good standing under the laws of its jurisdiction of its organization (in the case of good standing, to the extent such jurisdiction
recognizes such concept).


 






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SECTION
2.02. Ownership of Subject Shares. As of the date hereof, Stockholder or its Family Members, as applicable, is the record
and beneficial owner of, and has good and valid title to, the Subject Shares that are indicated opposite its name or the names of its
Family Members on Schedule A, free and clear of all Liens, except for any Liens created by this Agreement. Stockholder does
not own, of record or beneficially, any shares of capital stock of Parent other than the Subject Shares set forth on Schedule
A. Stockholder or each of its Family Members set forth on Schedule A, as applicable, has the sole right to vote its Subject
Shares.


 


SECTION
2.03. Authority; Execution and Delivery; Enforceability. In the event that such Stockholder is an individual, such Stockholder
has full power and capacity to execute and deliver this Agreement and to perform their obligations hereunder. This Agreement has been
duly executed and delivered by such Stockholder, and, in the event such Stockholder is an individual and is married and the Subject Shares
constitute community property or otherwise require spousal approval in order for this Agreement to be a legally valid and binding obligation
of such Stockholder, this Agreement has been duly executed and delivered by such Stockholder’s spouse. In the event such Stockholder
is an entity, such Stockholder has all requisite power and authority and has taken all action necessary to execute and deliver this Agreement
and to perform its obligations hereunder. The execution and delivery by such Stockholder of this Agreement and the performance by such
Stockholder of its obligations hereunder have been duly authorized by all necessary action, and no other proceedings on the part of such
Stockholder (or such Stockholder’s governing body, members, stockholders, partners, trustees or similar Persons, as applicable)
are necessary to authorize this Agreement or the performance by such Stockholder of its obligations hereunder. This Agreement has been
duly executed and delivered by such Stockholder, and, assuming due authorization, execution and delivery by the Company, this Agreement
constitutes the legal, valid and binding agreement of such Stockholder, enforceable against such Stockholder in accordance with its terms.


 


SECTION
2.04. No Conflicts; Governmental Approvals.


 


(a) The
execution, and delivery by such Stockholder of this Agreement do not, and the performance by such Stockholder of its obligations hereunder
will not, constitute or result in (i) in the event that such Stockholder is an entity, a conflict with, a breach or violation of,
or a default under, the certificate of incorporation and the bylaws, the limited liability company agreement, the partnership or trust
agreement or comparable organizational documents of such Stockholder, (ii) with or without notice, lapse of time or both, a breach
or violation of, a termination (or right of termination) of or a default under, the loss of any benefit under, the creation, modification
or acceleration of any obligations under or the creation of any Lien on any of the properties, rights or assets of such Stockholder pursuant
to any Contract binding upon such Stockholder or under any applicable Law to which such Stockholder is subject or (iii) any change
in the rights or obligations of any party under any Contract legally binding upon such Stockholder, except in the case of each of clauses
(ii) and (iii) directly above, for any such conflict, breach, violation, termination, default, loss, creation, modification, acceleration
or change that would not, individually or in the aggregate, reasonably be expected to prevent or materially delay or impair the ability
of such Stockholder to perform its obligations hereunder.


 


(b)
No approval by any Governmental Body is required to be obtained or made by or with respect to such Stockholder in connection with the
execution, delivery and performance of this Agreement, other than compliance by such Stockholder with and filings under Sections 13(d)
and 16 of the Exchange Act.


 


SECTION
2.05. Litigation. There is no Legal Proceeding pending or, to the knowledge of such Stockholder, any claim that has been asserted
against or affecting such Stockholder with respect to a Legal Proceeding (and such Stockholder is not aware of any basis for any such
Legal Proceeding or claim), nor is there any order outstanding against such Stockholder or to which any of its properties or assets is
subject that would, individually or in the aggregate, reasonably be expected to prevent or materially delay or impair the ability of such
Stockholder to perform its obligations hereunder.


 






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ARTICLE III


 


Covenants of the Stockholders


 


SECTION
3.01. Agreement to Vote.


 


(a)
From the period commencing with the execution and delivery of this Agreement and continuing until the termination of this Agreement pursuant
to Section 4.11, the Stockholder agrees that:


 


(i)
at any meeting of the stockholders of Parent called to seek the Parent Stockholder Approval or in any other circumstances upon which a
vote, consent or other approval of such Stockholder with respect to the Merger Agreement and the issuance of the Parent Class B Common
Stock pursuant to the Merger (the “Parent Share Issuance”) or any of the other transactions contemplated by
the Merger Agreement is sought, such Stockholder shall cause its Subject Shares to be present in person or by proxy for purposes of constituting
a quorum and vote, or cause to be voted, including by executing a written consent if requested by the Company, its Subject Shares in favor
of granting the Parent Stockholder Approval and the Required Parent Stockholder Vote and any other actions presented to the stockholders
of Parent as necessary or desirable in connection with the Parent Stockholder Approval, the Required Parent Stockholder Vote and the Merger
Agreement, the Parent Share Issuance or any of the other transactions contemplated by the Merger Agreement; and


 


(ii)
at any meeting of the stockholders of Parent or in any other circumstances upon which a vote, consent or other approval of such Stockholder
is sought, such Stockholder shall cause its Subject Shares to be present in person or by proxy for purposes of constituting a quorum and
vote, or cause to be voted, including by executing a written consent if requested by the Company, its Subject Shares against (A) any
action, agreement or proposal made in opposition to or in competition with the consummation of the Parent Share Issuance or any of the
other transactions contemplated by the Merger Agreement, (B) any action, agreement or proposal involving Parent or any of its Subsidiaries
that would reasonably be expected to result in a breach of any covenant, representation or warranty of Parent, Merger Sub I or Merger
Sub II under the Merger Agreement and (C) any amendment of the certificate of incorporation or bylaws of Parent or any other action,
agreement or proposal involving Parent or any of its Subsidiaries that would in any manner impede, frustrate, prevent or nullify any provision
of the Merger Agreement, the Parent Share Issuance or any of the other transactions contemplated by the Merger Agreement or change in
any manner the voting rights of any class of the capital stock of Parent.


 


(b)
The Stockholder shall not commit or agree to take any action inconsistent with any provision of Section 3.01(a).


 


(c)
The Stockholder will use reasonable best efforts to cause each of its Family Members who hold any Parent Common Stock (whether directly
or indirectly, as listed on Schedule A) to comply with the provisions of Section 3.01(a)(i) hereof as though such person were a
party hereto.


 






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SECTION
3.02. Irrevocable Proxy. The Stockholder hereby irrevocably grants to, and appoints, each officer of the Company, and any
other individual designated in writing by the Company, and each of them individually, as the Stockholder’s proxy and attorney-in-fact (with
full power of substitution), for and in the name, place and stead of the Stockholder, to vote its Subject Shares, or grant a consent or
approval in respect of its Subject Shares, in a manner consistent with Section 3.01 if such Stockholder has not voted or caused to
be voted such Subject Shares in a manner consistent with Section 3.01 at least five (5) Business Days prior to the applicable
voting deadline. The Stockholder understands and acknowledges that the Company is entering into the Merger Agreement in reliance upon
such Stockholder’s execution and delivery of this Agreement. The Stockholder hereby affirms that the irrevocable proxy set forth
in this Section 3.02 is given in connection with the execution of the Merger Agreement, and that such irrevocable proxy is given
to secure the performance of the duties of such Stockholder under this Agreement. The Stockholder hereby further affirms that the irrevocable
proxy set forth in this Section 3.02 is coupled with an interest and may under no circumstances be revoked. The Stockholder hereby
ratifies and confirms all that such irrevocable proxy may lawfully do or cause to be done by virtue hereof. Such irrevocable proxy is
executed and intended to be irrevocable in accordance with the provisions of Section 212(e) of the DGCL. Notwithstanding the foregoing,
the proxy and appointment granted hereby shall be automatically revoked, without any action by the Stockholder, upon any termination of
this Agreement pursuant to Section 4.11.


 


SECTION
3.03. Transfer and Other Restrictions. Except pursuant to this Agreement, the Stockholder shall not, directly or indirectly,
(i) sell, transfer, pledge, assign or otherwise dispose of (including by gift, merger or otherwise by operation of law) (collectively,
“Transfer”), or enter into any Contract, option or other arrangement or understanding with respect to the Transfer
of, any of its Subject Shares to any Person, (ii) enter into any voting arrangement, whether by proxy, voting agreement or otherwise,
with respect to any of its Subject Shares, (iii) take any other action that would make any representation or warranty of such Stockholder
contained herein untrue or incorrect or would in any way restrict, limit or interfere with the performance of such Stockholder’s
obligations hereunder or (iv) commit or agree to take any of the foregoing actions; provided, however, that,
notwithstanding the foregoing, nothing in this Agreement shall be deemed to prohibit Stockholder from selling or disposing of Subject
Shares to any Permitted Transferee (as defined below) so long as such Permitted Transferee executes a signature page to this Agreement
and delivers the same to the Company, pursuant to which such Permitted Transferee agrees to be a “Stockholder” pursuant to
this Agreement with respect to such Subject Shares that are the subject of such Transfer. “Permitted Transferee” means
(i) any other Stockholder, (ii) a spouse, lineal descendant or antecedent, brother or sister, adopted child or grandchild or
the spouse of any child, adopted child, grandchild or adopted grandchild of such Stockholder, (iii) any trust, the trustees of which
include only the persons named in clauses (i) or (ii) and the beneficiaries of which include only the persons named in clauses (i) or
(ii), (iv) any corporation, limited liability company or partnership, the stockholders, members or general or limited partners of which
include only the persons named in clauses (i) or (ii), or (v) any person by will, for estate or tax planning purposes, for charitable
purposes or as charitable gifts or donations. The Stockholder hereby authorizes and will instruct Parent or its counsel to notify Parent’s
transfer agent that there is a stop transfer order with respect to all of the Subject Shares of such Stockholder (and that this Agreement
places limits on the voting and transfer of such Subject Shares), subject to the provisions hereof. Notwithstanding the foregoing, any
such stop transfer order and notice will immediately be withdrawn and terminated upon any termination of this Agreement pursuant to Section 4.11.


 


SECTION
3.04. Directors and Officers. Notwithstanding any provision of this Agreement to the contrary, nothing in this Agreement shall
limit or restrict the Stockholder (or an affiliate or designee of any Stockholder) who is a director or officer of Parent or the Company
from acting in such capacity or fulfilling the obligations of such office (including, for the avoidance of doubt, exercising their fiduciary
duties), including by voting, in their capacity as a director or officer of Parent or the Company, in such Stockholder’s (or its
affiliate’s or designee’s) sole discretion on any matter as a director or officer (it being understood that this Agreement
shall apply to the Stockholder solely in such Stockholder’s capacity as a stockholder of Parent or the Company). In this regard,
the Stockholder shall not be deemed to make any agreement or understanding in this Agreement in the Stockholder’s capacity as a
director or officer of Parent or the Company.


 






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SECTION
3.05. Joinder of Family Members. The Stockholder will use reasonable best efforts to cause each of its Family Members who hold
any Parent Common Stock (whether directly or indirectly, as listed on Schedule A) to execute and deliver a joinder to this Agreement
within five days of the date hereof affirming such person’s agreement to be bound by the covenants, agreements and acknowledgments
of this Agreement as a Stockholder and agreeing to be bound by the terms of that certain Lockup Agreement executed by the Stockholder
on the date hereof. For purposes of this Agreement, “Family Members” shall mean a Stockholder’s spouse, parents,
children, grandchildren, siblings, mothers and fathers-in-law, sons and daughters-in-law, brothers and sisters-in-law, anyone (other than
domestic employees) who shares Stockholder’s home and any trust established for the benefit of any of the foregoing.


 


ARTICLE IV


 


General Provisions


 


SECTION
4.01. Notices. All notices, requests, claims, demands, waivers and other communications under this Agreement shall be in writing
(including, for the avoidance of doubt, via email) and shall be addressed to a party at the following address for such party:


 


(a) if to the Company,
to:


 


Rafael Pharmaceuticals,
Inc. 


1 Duncan Drive 


East Windsor, NJ 08512 


Attention: Sanjeev
Luther 


Email: sanjeev.luther@rafaelpharma.com


 


with a copy to:


 


Orrick Herrington & Sutcliffe LLP

1152 15th Street, N.W.

Washington, DC 20005 – 1706


Attention: David E. Schulman

E-mail: dschulman@orrick.com


 


(b) if to the Stockholder,
to:


 


c/o Rafael Holdings, Inc. 


520 Broad Street 


Newark, NJ 07102 


Attention: David Polinsky,
Chief Financial Officer 


E-mail: david.polinsky@rafaelholdings.com


 


or to such other address(es)
as shall be furnished in writing by any such party to the other parties hereto in accordance with the provisions of this Section 4.01.


 






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SECTION
4.02. Severability. The provisions of this Agreement shall be deemed severable and the illegality, invalidity or unenforceability
of any provision shall not affect the legality, validity or enforceability of any other provision hereof. If any provision of this Agreement,
or the application thereof to any Person or any circumstance, is illegal, invalid or unenforceable, (a) a suitable and equitable
provision shall be substituted therefor in order to carry out, so far as may be legal, valid and enforceable, the intent and purpose of
such illegal, invalid or unenforceable provision, and (b) the remainder of this Agreement and the application of such provision to
other Persons or circumstances shall not be affected by such illegality, invalidity or unenforceability, nor shall such illegality, invalidity
or unenforceability affect the legality, validity or enforceability of such provision, or the application thereof, in any other jurisdiction.


 


SECTION
4.03. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original
and 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 of the parties hereto and delivered to the other parties. A signed copy of this Agreement delivered by facsimile, email or other
means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.


 


SECTION
4.04. Entire Agreement; No Third Party Beneficiaries. This Agreement, together with the Merger Agreement to the extent referenced
herein, constitutes the entire agreement, and supersedes all prior agreements and understandings, both written and oral, between the parties
hereto with respect to the subject matter hereof and is not intended to confer upon any Person other than the parties hereto any rights
or remedies.


 


SECTION
4.05. Governing Law. This Agreement shall be deemed to be made in and in all respects shall be interpreted, construed and
governed by and in accordance with the Law of the State of Delaware without regard to the conflicts of laws, rules or principles thereof
(or any other jurisdiction) to the extent that such laws, rules or principles would direct a matter to another jurisdiction.


 


SECTION
4.06. Venue. The parties hereby irrevocably submit to the exclusive jurisdiction of the Court of Chancery of the State
of Delaware, or, only if such court declines to accept jurisdiction over a particular matter, any state or federal court within the State
of Delaware, solely in respect of the interpretation and enforcement of the provisions of this Agreement and of the documents referred
to in this Agreement, and in respect of the transactions contemplated hereby and thereby, and hereby waive, and agree not to assert, as
a defense in any Legal Proceeding for the interpretation or enforcement hereof or of any such document, that it is not subject thereto
or that such Legal Proceeding may not be brought or is not maintainable in said courts or that the venue thereof may not be appropriate
or that this Agreement or any such document may not be enforced in or by such courts, and the parties irrevocably agree that all claims
relating to such Legal Proceeding or transactions shall be heard and determined in such a Delaware state or federal court. The parties
hereby consent to and grant any such court jurisdiction over the person of such parties and, to the extent permitted by Law, over the
subject matter of such dispute and agree that mailing of process or other papers in connection with any such Legal Proceeding in the manner
provided in Section 4.01 or in such other manner as may be permitted by Law shall be valid and sufficient service thereof.


 






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SECTION
4.07. Waiver of Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS
LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY
ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE DOCUMENTS REFERRED TO HEREIN OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH
PARTY CERTIFIES AND ACKNOWLEDGES THAT (i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) EACH PARTY UNDERSTANDS AND
HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii) EACH PARTY MAKES THIS WAIVER VOLUNTARILY AND (iv) EACH PARTY HAS BEEN
INDUCED BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS CONTEMPLATED IN THIS SECTION 4.07, TO ENTER INTO THIS AGREEMENT,
THE AGREEMENTS CONTEMPLATED BY THE DOCUMENTS REFERRED TO HEREIN AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY, AS APPLICABLE.


 


SECTION
4.08. Assignment. Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assignable
or delegable (as the case may be), in whole or in part, by operation of Law or otherwise, and any attempted or purported assignment or
delegation in violation of this Section 4.08 shall be null and void. Subject to the immediately preceding sentence, this Agreement
will be binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective successors and assigns.


 


SECTION
4.09. Enforcement. The parties hereto agree that irreparable damage would occur in the event that any of the provisions of
this Agreement were not performed in accordance with their specific terms or were otherwise breached. Accordingly, each party agrees that,
in addition to any other available remedies the parties may have in equity or at law, each party shall, unless this Agreement has been
terminated in accordance with its terms, be entitled to specific performance and injunctive relief as a remedy for any such breach including
an injunction restraining any breach or violation or threatened breach or violation of the provisions of this Agreement and to enforce
specifically the terms and provisions of this Agreement exclusively in the courts specified in Section 4.06, in each case without
necessity of posting a bond or other form of security. In the event that any Legal Proceeding should be brought in equity to enforce the
provisions of this Agreement, no party shall allege, and each party hereby waives the defense, that there is an adequate remedy at law.


 


SECTION
4.10. Amendment; Waiver. This Agreement may be amended by the parties hereto at any time. Any amendment to this Agreement
shall be valid only if set forth in an instrument in writing signed on behalf of each of the parties hereto. The parties hereto may, to
the extent permitted under applicable Law, waive compliance with any of the terms or conditions contained in this Agreement. Any agreement
on the part of a party to any such waiver shall be valid only if set forth in an instrument in writing signed on behalf of such party.
The failure of any party to this Agreement to assert any of its rights hereunder or otherwise shall not constitute a waiver of such rights.


 


SECTION
4.11. Termination. This Agreement, and all obligations of the parties hereunder shall automatically terminate, without further
action by any party hereto, upon the earliest of (i) the Effective Time, (ii) the termination of the Merger Agreement pursuant
to Article 9 thereof, (iii) any amendment of the Merger Agreement which would materially increase the number of Merger Shares issuable
pursuant to the Merger or the other consideration payable by Parent under the Merger Agreement, unless the Stockholder has consented in
writing to such amendment, and (iv) the mutual written agreement of the Stockholder and the Company. In the event of any such termination
of this Agreement, this Agreement shall forthwith become void and have no effect, without any liability or obligation on the part of the
Company or the Stockholder, other than (A) this Article IV, which provisions shall survive such termination, and (B) liability for
any breach of this Agreement prior to such termination.


 


[Signature Page Follows]


 




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





 


	 	RAFAEL PHARMACEUTICALS, INC.
	 	 
	 	By:	
                 
	 	 	Name:	                                  
	 	 	Title:	 


  


[Signature Page to Voting Agreement]


 




     


     


    

 


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


  


	 	STOCKHOLDER:
	 	 
	 	Howard S. Jonas
	 	 
	 	 


 


[Signature Page to Voting Agreement]


 




     


     


    

 


Schedule A