Exhibit 10.8


 





FORM
OF indemnification agreement


 


THIS INDEMNIFICATION AGREEMENT (the “Agreement”),
dated as of ________ __, 2014, is entered into by and between Macrocure Ltd., an Israeli company whose address is 25 Hasivim St.,
Petach Tikva, Israel (the “Company”), and the undersigned Director or Officer of the Company whose
name appears on the signature page hereto officer (the “Indemnitee”).


 


		WHEREAS,	Indemnitee is an Office Holder (“Nosse Misra”),
as such term is defined in the Companies Law, 5759–1999, as amended (the “Companies
Law” and “Office Holder” respectively),
of the Company; 



 


		WHEREAS,	both the Company and Indemnitee recognize the increased risk
of litigation and other claims being asserted against Office Holders of companies and that highly competent persons have become
more reluctant to serve corporations as directors and officers or in other capacities unless they are provided with adequate protection
through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their
service to, and activities on behalf of, companies; 



 


		WHEREAS,	the Articles of Association
of the Company authorize the Company to indemnify and advance expenses to its Office Holders and provide for insurance and exculpation
to its Office Holders, in each case, to the fullest extent permitted by applicable law and this Agreement is provided to Indemnitee
in accordance with applicable law, the Articles of the Association of the Company and all requisite corporate approvals;



 


		WHEREAS,	the Company has determined that (i) the increased difficulty
in attracting and retaining competent persons is detrimental to the best interests of the Company’s shareholders and that
the Company should act to assure such persons that there will be increased certainty of such protection in the future, (ii) and
it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses
on behalf of, such persons to the fullest extent permitted by applicable law, so that they will serve or continue to serve the
Company free from undue concern that they will not be so indemnified; 



 


		WHEREAS,	the Company acknowledges that Indemnitee is relying on the obligations
of the Company set forth in this Agreement in agreeing to serve the Company, which obligations are therefore irrevocable; and



 


		WHEREAS,	in recognition of Indemnitee’s need for substantial protection
against loss arising from the Indemnitee's liability, including costs and expenses incurred by the Indemnitee due to his position
as an Office Holder, in order to assure Indemnitee’s continued service to the Company in an effective manner and, in part,
in order to provide Indemnitee with specific contractual assurance that the indemnification, insurance and exculpation afforded
by the Articles of Association will be available to Indemnitee, the Company wishes to undertake in this Agreement for the indemnification
of and the advancing of expenses to Indemnitee to the fullest extent permitted by applicable law and as set forth in this Agreement
and provide for insurance and exculpation of Indemnitee as set forth in this Agreement.







    	 



    	 



    

 


NOW, THEREFORE, the parties hereto
agree as follows:


 


		1.	INDEMNIFICATION AND INSURANCE.



 


		1.1.	The Company hereby undertakes to indemnify Indemnitee to the fullest extent permitted by applicable
law and the Company's Articles of Association, as each may be amended from time to time, for any liability and expense specified
in Sections ‎1.1.1 through ‎1.1.4 below, imposed on Indemnitee due to or in connection with an act performed by such Indemnitee,
either prior to or after the date hereof, in Indemnitee’s capacity as an Office Holder, including, without limitation, as
a director, officer, employee, agent or fiduciary of the Company, any subsidiary thereof or any other corporation, collaboration,
partnership, joint venture, trust or other enterprise, in which Indemnitee serves at any time at the request of the Company (the
“Corporate Capacity”). The term “act performed in Indemnitee’s capacity as an Office Holder”
shall include, without limitation, any act, omission and failure to act and any other circumstances relating to or arising from
Indemnitee’s service in a Corporate Capacity. Notwithstanding the foregoing, in the event that the Office Holder is the beneficiary
of an indemnification undertaking provided by a subsidiary of the Company or any other entity [(other than a Secondary Indemnitor
(as defined below))],1 with respect to his Corporate
Capacity with such subsidiary or entity, then the indemnification obligations of the Company hereunder with respect to such Corporate
Capacity shall only apply to the extent that the indemnification by such subsidiary or other entity does not actually fully cover
the indemnifiable liabilities and expenses relating thereto. The following shall be hereinafter referred to as “Indemnifiable
Events”:



 


		1.1.1.	Financial liability imposed on Indemnitee in favor of any person pursuant to a judgment, including
a judgment rendered in the context of a settlement or an arbitrator’s award approved by a court. For purposes of Section
‎1 of this Agreement, the term “person” shall include, without limitation, a natural person, firm, partnership,
joint venture, trust, company, corporation, limited liability entity, unincorporated organization, estate, government, municipality,
or any political, governmental, regulatory or similar agency or body;



 


		1.1.2.	Reasonable Expenses (as defined below) expended or incurred by Indemnitee as a result of an investigation
or any proceeding instituted against the Indemnitee by an authority that is authorized to conduct an investigation or proceeding
to the full extent permitted by applicable law.






 





 



1
Only relevant to directors who have an additional indemnification agreement provided by their employers.


 








    	 



    	 



    

 


		1.1.3.	Reasonable Expenses incurred by or charged to Indemnitee by a court, in a proceeding instituted
against him by the Company or on its behalf or by another person, or in a criminal charge from which he was acquitted or in which
he was convicted of an offence that does not require proof of Mens Rea; and



 


		1.1.4.	A financial obligation imposed upon Indemnitee and reasonable Expenses expended Indemnitee as a
result of an administrative proceeding instituted against Indemnitee. Without derogating from the generality of the foregoing,
such obligation or Expense will include a payment which Indemnitee is obligated to make to an injured party as set forth in Section
52(54)(a)(1)(a) of the Israeli Securities Law, 1968 – 5728 (the "Securities Law") and Expenses that Indemnitee
incurred in connection with a proceeding under Chapters H'3, H'4 or I'1 of the Securities Law; and



 


		1.1.5.	Any other event, occurrence, matter or circumstances under any law with respect to which the Company
may, or will be able to, indemnify an Office Holder (including, without limitation, in accordance with Section 56h(b)(1) of the
Israeli Securities Law 5728-1968 (the “Israeli Securities Law”), if applicable, and Section 50P(b)(2)
of the Israeli Restrictive Trade Practices Law, 5758-1988 (the “RTP Law”)).



 


For the purpose of this Agreement,
“Expenses” shall include, without limitation, attorneys’ fees and all other costs, expenses and obligations
paid or incurred by Indemnitee in connection with investigating, defending, being a witness in or participating in (including on
appeal), or preparing to defend, be a witness in or participate in any claim relating to any matter for which indemnification hereunder
may be provided, and costs and expenses paid or incurred by Indemnitee in successfully enforcing this Agreement. Expenses shall
be considered paid or incurred by Indemnitee at such time as Indemnitee is required to pay or incur such cost or expenses, including
upon receipt of an invoice or payment demand. The Company shall pay the Expenses in accordance with the provisions of Section ‎1.3.


 


		1.2.	Notwithstanding anything herein to the contrary, the Company’s undertaking to indemnify the
Indemnitee in advance under Section ‎1.1.1 shall only be with respect to events described in Exhibit A hereto.
The Board of Directors of the Company (the “Board”) has determined that the categories of events listed in Exhibit
A are likely to occur in light of the operations of the Company. The maximum amount of indemnification payable by the Company under
Section ‎1.1.1 of this Agreement with respect to all persons with respect to whom the Company undertook to indemnify under
agreements similar to this Agreement (the “Indemnifiable Persons”), for all events described in Exhibit A, shall
be as set forth in Exhibit A hereto (the “Limit Amount”). If the Limit Amount is insufficient to cover all the
indemnity amounts payable with respect to all Indemnifiable Persons, then such amount shall be allocated to such Indemnifiable
Persons pro rata according to the percentage of their culpability, as finally determined by a court in the relevant claim, or,
absent such determination or in the event such persons are parties to different claims, based on an equal pro rata allocation among
such Indemnifiable Persons. The Limit Amount payable by the Company for each event described in Exhibit A is deemed by the Company
to be reasonable in light of the circumstances. The indemnification provided under Section ‎1.1.1 herein shall not be subject
to the limitations imposed by this Section ‎1.2 and Exhibit A
if and to the extent such limits are no longer required by the Companies Law.



 






    	 



    	 



    

The Company
hereby declares that according to its Articles of Association it is authorized to indemnify the Indemnitee for liability, costs
and expenses arising from events which are not described in Exhibit A, and it undertakes to consider any request made by the Indemnitee
for such indemnification in accordance with the intent and purpose of this Agreement.


 


		1.3.	If so requested by Indemnitee, and subject to the Company’s repayment and reimbursements
rights set forth in Sections ‎3 and ‎5 below, the Company shall pay amounts to cover Indemnitee’s Expenses with respect
to which Indemnitee is entitled to be indemnified under Section ‎1.1 above, as and when incurred. The payments of such amounts
shall be made by the Company directly to the Indemnitee’s legal and other advisors, as soon as practicable, but in any event
no later than fifteen (15) days after written demand by such Indemnitee therefor to the Company, and any such payment shall be
deemed to constitute indemnification hereunder. All amounts paid as indemnification hereunder shall be grossed-up to cover any
tax payment that Indemnitee may be required to make if the indemnification payments are taxable, subject to the Limit Amount if
required by applicable law. As part of the aforementioned undertaking, the Company will make available to Indemnitee any security
or guarantee that Indemnitee may be required to post in accordance with an interim decision given by a court, governmental or administrative
body, or an arbitrator, including for the purpose of substituting liens imposed on Indemnitee’s assets.



 


		1.4.	The Company’s obligation to indemnify Indemnitee and advance Expenses in accordance with
this Agreement shall apply to any actual, possible or threatened claim, action, suit, demand or proceeding or any inquiry or investigation,
whether civil, criminal or investigative, arising out of the Indemnitee’s service in the Corporate Capacity as described
in Section ‎1.1 above, whether or not Indemnitee is still serving in such position.



 


		1.5.	Without derogating from the Company’s obligations to indemnify Indemnitee as provided herein,
the Company undertakes that, subject to the mandatory limitations under applicable law, as long as it may be obligated to provide
indemnification and advance Expenses under this Agreement and as long as the Indemnitee is exposed to any actual or potential claim,
action, suit, demand, proceeding or any inquiry or investigation, due to the Indemnitee's position as an Office Holder, the Company
will purchase and maintain in effect directors and officers liability insurance, which will include coverage for the benefit of
the Indemnitee, providing coverage in amounts as determined by the Board. The Company hereby undertakes to notify the Indemnitee
30 days prior to the expiration or termination of the directors' and officers’ liability insurance.



 



    	 



    	 



    




		1.6.	Without derogating from the Company’s obligations to indemnify Indemnitee as provided herein,
the Company undertakes to give prompt written notice of the commencement of any claim hereunder to the insurers in accordance with
the procedures set forth in each of the policies. The Company shall thereafter diligently take all actions reasonably necessary
under the circumstances to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such action,
suit, proceeding, inquiry or investigation in accordance with the terms of such policies. The above shall not derogate from Company’s
authority to freely negotiate or reach any compromise with the insurer which is reasonable at the Company’s sole discretion
provided that the Company shall act in good faith and in a diligent manner.



 


Despite the
above, the Company shall not reach a compromise which releases the insurer from its duty to reimburse the Indemnitee for Expenses
which Indemnitee personally incurred, without the Indemnitee's prior written approval.


 


		1.7.	In making a determination with respect to entitlement to indemnification hereunder, the person
or persons or entity making such determination shall presume that Indemnitee is entitled to indemnification under this Agreement
if Indemnitee has requested it, and the Company shall have the burden of proof to overcome that presumption in connection with
the making of any determination contrary to that presumption.



 


		2.	SPECIFIC LIMITATIONS ON INDEMNIFICATION.



 


Notwithstanding anything to
the contrary in this Agreement, the Company shall not indemnify or advance Expenses to Indemnitee with respect to (i) any act,
event or circumstance with respect to which it is prohibited to do so under applicable law, or (ii) a counter claim made by the
Company or in its name in connection with a claim against the Company filed by the Indemnitee.


 


		3.	REPAYMENT OF EXPENSES.



 


		3.1.	In the event that the Company provides or is required to provide indemnification with respect to
Expenses hereunder and at any time thereafter the Company determines, based on advice from its legal counsel, that the Indemnitee
was not entitled to such payments, the amounts so indemnified by the Company will be promptly repaid by Indemnitee, unless the
Indemnitee disputes the Company’s determination, in which case the Indemnitee’s obligation to repay to the Company
shall be postponed until such dispute is resolved by a court of competent jurisdiction in a final and non-appealable order.



 


		3.2.	Indemnitee’s obligation to repay to the Company for any Expenses or other sums paid hereunder
shall be deemed as a loan given to Indemnitee by the Company subject to the minimum interest rate prescribed by Section 3(9) of
the Income Tax Ordinance [New Version], 1961, or any other legislation replacing it, which is not considered a taxable benefit.



 



    	 



    	 



    




		4.	SUBROGATION.



 


		4.1.	[Except as set forth in Section ‎4.2 below,] 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 Indemnitee, who shall execute
all documents required and shall do everything that may be necessary to secure such rights, including the execution of such documents
necessary to enable the Company effectively to bring suit to enforce such rights.



 


		4.2.	[The Company hereby acknowledges that Indemnitee has certain rights to indemnification, advancement
of Expenses and/or insurance provided by [venture capital fund] OR [parent company of the Company] OR [shareholder(s) of the Company]
and certain of [its]/[their] affiliates] (collectively, the “Secondary Indemnitors”). The Company hereby agrees (i)
that it is the indemnitor of first resort (i.e., its obligations to Indemnitee are primary and any obligation of the Secondary
Indemnitors to advance Expenses or to provide indemnification for the same Expenses or liabilities incurred by Indemnitee are secondary),
(ii) that it shall be required to advance the full amount of Expenses incurred by Indemnitee and shall be liable for the full amount
of all Expenses, judgments, penalties, fines and amounts paid in settlement to the extent legally permitted and as required by
the terms of this Agreement and the Articles of Association of the Company (or any other agreement between the Company and Indemnitee),
without regard to any rights Indemnitee may have against the Secondary Indemnitors, and, (iii)that it irrevocably waives, relinquishes
and releases the Secondary Indemnitors from any and all claims against the Secondary Indemnitors for contribution, subrogation
or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the Secondary
Indemnitors on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company
shall affect the foregoing and the Secondary Indemnitors shall have a right of contribution and/or be subrogated to the extent
of such advancement or payment to all of the rights of recovery of Indemnitee against the Company. The Company and Indemnitee agree
that the Secondary Indemnitors are express third party beneficiaries of the terms of this Section ‎4.2.]



 


		5.	REIMBURSEMENT.



 


[Except as set forth in Section
‎4.2 above,] The Company shall not be liable under this Agreement to make any payment in connection with any Indemnifiable
Event to the extent Indemnitee has otherwise actually received payment under any insurance policy or otherwise (without any obligation
of Indemnitee to repay any such amount) of the amounts otherwise indemnifiable hereunder. Any amounts paid to Indemnitee under
such insurance policy or otherwise after the Company has indemnified Indemnitee for such liability or Expense shall be repaid to
the Company promptly upon receipt by Indemnitee, in accordance with the terms set forth in Section ‎3.2.


 


		6.	EFFECTIVENESS.



 


The Company represents and
warrants that this Agreement is valid, binding and enforceable in accordance with its terms and was duly adopted and approved by
the Company, and shall be in full force and effect immediately upon its execution.






    	 



    	 



    

 


		7.	NOTIFICATION AND DEFENSE OF CLAIM.



 


Indemnitee shall notify the
Company of the commencement of any action, suit or proceeding, and of the receipt of any notice or threat that any such legal proceeding
has been or shall or may be initiated against Indemnitee (including any proceedings by or against the Company and any subsidiary
thereof), promptly upon Indemnitee first becoming so aware; but the omission so to notify the Company will not relieve the Company
from any liability which it may have to Indemnitee under this Agreement unless and to the extent that such failure to provide notice
materially and adversely prejudices the Company’s ability to defend such action. Notice to the Company shall be directed
to the Chief Executive Officer or Chief Financial Officer of the Company at the address shown in the preamble to this Agreement
(or such other address as the Company shall designate in writing to Indemnitee). With respect to any such action, suit or proceeding
as to which Indemnitee notifies the Company of the commencement thereof and without derogating from Sections ‎1.1 and ‎2:


 


		7.1.	Subject to Section 7.2, the Company will be entitled to participate therein at its own expense.



 


		7.2.	Except as otherwise provided below, the Company, alone or jointly with any other indemnifying party
similarly notified, will be entitled to assume the defense thereof, with counsel selected by the Company which counsel is reasonably
reputable with experience in the relevant field. In such case, the fees and expenses of such counsel shall be paid by the Company.
Indemnitee shall have the right to employ his or her own counsel in such action, suit or proceeding, but the fees and expenses
of such counsel incurred after notice from the Company of its assumption of the defense thereof shall be at the expense of Indemnitee,
unless: (i) the employment of counsel by Indemnitee has been authorized in writing by the Company; (ii) Indemnitee reasonably
claims that there may be a conflict of interest between the Company and Indemnitee in the conduct of the defense of such action;
or (iii) the Company has not in fact employed counsel to assume the defense of such action, in which case the reasonable fees
and expenses of counsel shall be at the expense of the Company. The Company shall not be entitled to assume the defense of any
action, suit or proceeding brought by or on behalf of the Company or as to which Indemnitee shall have reached the conclusion specified
in (ii) above.



 


		7.3.	The Company shall not be liable to indemnify Indemnitee under this Agreement for any amounts or
expenses paid in connection with a settlement of any action, claim or otherwise, effected without the Company’s prior written
consent.



 


		7.4.	Without derogating from Section 7.2, the Company shall have the right to conduct the defense as
it sees fit in its sole discretion (provided that the Company shall conduct the defense in good faith and in a diligent manner),
including the right to settle or compromise any claim or to consent to the entry of any judgment against Indemnitee without the
consent of the Indemnitee, provided that, the amount of such settlement, compromise or judgment does not exceed the Limit Amount
(if applicable) and is fully indemnifiable pursuant to this Agreement (subject to Section ‎1.2 of this Agreement) and/or applicable
law, and any such settlement, compromise or judgment does not impose any penalty or limitation on Indemnitee without the Indemnitee’s
prior written consent. The Indemnitee’s consent shall not be required if the settlement includes a complete release of Indemnitee,
does not contain any admission of wrong-doing by Indemnitee, and includes monetary sanctions only as provided above. In the case
of criminal proceedings the Company and/or its legal counsel will not have the right to plead guilty or agree to a plea-bargain
in the Indemnitee’s name without the Indemnitee’s prior written consent. Neither the Company nor Indemnitee will unreasonably
withhold or delay their consent to any proposed settlement.



 



    	 



    	 



    




		7.5.	Indemnitee shall fully cooperate with the Company and shall give the Company all information and
access to documents, files and to his advisors and representatives as shall be within Indemnitee’s power, in every reasonable
way as may be required by the Company with respect to any claim which is the subject matter of this Agreement and in the defense
of other claims asserted against the Company (other than claims asserted by Indemnitee), provided that the Company shall cover
all expenses, costs and fees incidental thereto such that the Indemnitee will not be required to pay or bear such expenses, costs
and fees.



 


		8.	EXCULPATION.



 


Subject to the provisions of
the Companies Law, the Company hereby releases, in advance, the Office Holder from liability to the Company for any damage that
arises from the breach of the Office Holder’s duty of care to the Company (within the meaning of such terms under Sections
252 and 253 of the Companies Law), other than breach of the duty of care towards the Company in a distribution (as such term is
defined in the Companies Law).


 


		9.	NON-EXCLUSIVITY.



 


The rights of the Indemnitee
hereunder shall not be deemed exclusive of any other rights Indemnitee may have under the Company’s Articles of Association,
applicable law or otherwise, and to the extent that during the Indemnification Period the indemnification rights of the then serving
directors and officers are, in any way, in whole or in part, are more favorable to such Indemnitee than the indemnification rights
provided under this Agreement to Indemnitee, Indemnitee shall be entitled to the full benefits of such more favorable indemnification
rights to the extent permitted by law.


 


		10.	PARTIAL INDEMNIFICATION.



 


If Indemnitee is entitled under
any provision of this Agreement to indemnification by the Company for some or a portion of the Expenses, judgments, fines or penalties
actually or reasonably incurred by Indemnitee in connection with any proceedings, but not, however, for the total amount thereof,
the Company shall nevertheless indemnify Indemnitee for the portion of such Expenses, judgments, fines or penalties to which Indemnitee
is entitled under any provision of this Agreement. Subject to the provisions of Section ‎5 above, any amount received by Indemnitee
(under any insurance policy or otherwise) shall not reduce the Limit Amount hereunder and shall not derogate from the Company’s
obligation to indemnify the Indemnitee in accordance with the provisions of this Agreement up to the Limit Amount, as set forth
in Section ‎1.2.






    	 



    	 



    

 


		11.	BINDING EFFECT.



 


This Agreement shall be binding
upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors , permitted assigns (including
any direct or indirect successor in the event of a Transaction) and a receiver, liquidator or the like of the Company, heirs, executors
and personal and legal representatives. In the event of a reorganization, acquisition, change of control merger or consolidation
of the Company or a transfer or disposition of all or substantially all of the business or assets of the Company (each a "Transaction"),
the Company shall, or cause its successor (if applicable) to undertake toward the Indemnitee to, fulfill and honor in all respects
the obligations of the Company pursuant to this Agreement.


 


In the event that the Company
consolidates with or merges into any other entity and shall not be the continuing or surviving company or entity of such consolidation
or merger or transfers or conveys all or a majority of its properties and assets, then, and in each such case, proper provisions
shall be made so that the successors and assigns of the Company, as applicable, shall succeed to the obligations of the Company
set forth in this Section 11.


 


In the event that in connection
with a Transaction the Company purchases a directors and officers’ “tail” or “run-off” policy for
the benefit of its then serving Office Holders, then such policy shall cover Indemnitee and such coverage shall be deemed to be
in satisfaction of the insurance requirements under this Agreement. This Agreement shall continue in effect regardless of whether
Indemnitee continues to serve in a Corporate Capacity.


 


Any amendment to the Companies
Law, the Israeli Securities Law, the RTP Law or other applicable law adversely affecting the right of the Indemnitee to be indemnified,
insured or released pursuant hereto shall be prospective in effect, and shall not affect the Company’s obligation or ability
to indemnify or insure the Indemnitee for any act or omission occurring prior to such amendment, unless otherwise provided by applicable
law.


 


		12.	SEVERABILITY.



 


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






    	 



    	 



    

 


		13.	NOTICE.



 


All notices and other communications
pursuant to this Agreement shall be in writing and shall be deemed provided if delivered personally, telecopied, sent by electronic
facsimile, email, reputable overnight courier or mailed by registered or certified mail (return receipt requested), postage prepaid,
to the parties at the addresses shown in the preamble to this Agreement, or to such other address as the party to whom notice is
to be given may have furnished to the other party hereto in writing in accordance herewith. Any such notice or communication shall
be deemed to have been delivered and received (i) in the case of personal delivery, on the date of such delivery, (ii) in the case
of telecopier or an electronic facsimile or email, one business day after the date of transmission if confirmation of receipt is
received, (iii) in the case of a reputable overnight courier, three business days after deposit with such reputable overnight courier
service, and (iv) in the case of mailing, on the seventh business day following that on which the mail containing such communication
is posted.


 


		14.	GOVERNING LAW; JURISDICTION.



 


This Agreement shall be governed
by and construed and enforced in accordance with the laws of the State of Israel, without giving effect to the conflicts of law
provisions of those laws. The Company and Indemnitee each hereby irrevocably consent to the exclusive jurisdiction and venue of
the courts of Tel Aviv, Israel for all purposes in connection with any action or proceeding which arises out of or relates to this
Agreement.


 


		15.	ENTIRE AGREEMENT AND TERMINATION.



 


This Agreement represents the
entire agreement between the parties and supersedes any other agreements, contracts or understandings between the parties, whether
written or oral, with respect to the subject matter of this Agreement.


 


For the avoidance of doubt,
it is hereby clarified that nothing contained herein derogates from the Company’s right upon its sole discretion, subject
to applicable law and the Articles of Association of the Company, to indemnify Indemnitee post factum for any amounts which Indemnitee
may be obligated to pay as set forth herein without the limitations set forth in Exhibit A below (which limitations, for the
avoidance of doubt, apply only to paragraph 1.1.1).


 


		16.	NO MODIFICATION AND NO WAIVER.



 


No supplement, modification
or amendment, termination or cancellation of this Agreement shall be binding unless executed in writing by both of the parties
hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions
hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. Any waiver shall be in writing. The Company
hereby undertakes not to amend its Articles of Association in a manner which will adversely affect the provisions of this Agreement.


 


		17.	ASSIGNMENTS; NO THIRD PARTY RIGHTS



 


Neither party hereto may assign
any of its rights or obligations hereunder except with the express prior written consent of the other party. Nothing herein shall
be deemed to create or imply an obligation for the benefit of a third party, other than as provided under Section 4.2 above. Without
limitation of the foregoing, nothing herein shall be deemed to create any right of any insurer that provides directors' and officers’
liability insurance, to claim, on behalf of Indemnitee, any rights hereunder.


 



    	 



    	 



    




		18.	INTERPRETATION; DEFINITIONS.



 


The obligations
of the Company as provided hereunder shall be interpreted broadly and in a manner that shall facilitate its execution, to the extent
permitted by law, and for the purposes for which it was intended.


 


Unless the
context shall otherwise require: words in the singular shall also include the plural, and vice versa; any pronoun shall include
the corresponding masculine, feminine and neuter forms; the words “include”, “includes” and “including”
shall be deemed to be followed by the phrase “without limitation”; the words “herein”, “hereof”
and “hereunder” and words of similar import refer to this Agreement in its entirety and not to any part hereof; all
references herein to Sections or clauses shall be deemed references to Sections or clauses of this Agreement; any references to
any agreement or other instrument or law, statute or regulation are to it as amended, supplemented or restated, from time to time
(and, in the case of any law, to any successor provisions or re-enactment or modification thereof being in force at the time);
any reference to “law” shall include any supranational, national, federal, state, local, or foreign statute or law
and all rules and regulations promulgated thereunder; any reference to a “day” or a number of “days” (without
any explicit reference otherwise, such as to business days) shall be interpreted as a reference to a calendar day or number of
calendar days; reference to month or year means according to the Gregorian calendar; reference to a “company”,
“corporate body” or “entity” shall include a, partnership, firm, company, corporation, limited liability
company, association, joint venture, trust, unincorporated organization, estate, or a government municipality or any political,
governmental, regulatory or similar agency or body, and reference to a “person” shall mean any of the foregoing or
a natural person.


 


		19.	COUNTERPARTS



 


This Agreement may be executed
in any number of counterparts, each of which shall be deemed an original and enforceable against the parties actually executing
such counterpart, and all of which together shall constitute one and the same instrument; it being understood that parties need
not sign the same counterpart. The exchange of an executed Agreement (in counterparts or otherwise) by facsimile or by electronic
delivery in pdf format shall be sufficient to bind the parties to the terms and conditions of this Agreement, as an original.


 


[SIGNATURE PAGE FOLLOWS]






    	 



    	 



    

 


IN WITNESS WHEREOF,
the parties, each acting under due and proper authority, have executed this Indemnification Agreement as of the date first mentioned
above, in one or more counterparts.


 


	Macrocure Ltd.
	By:	 	 
	Name and title:	 	 


	Indemnitee:	 
	Name:	 	 
	Signature:	 	 
	Address:	 






    	 



    	 



    

EXHIBIT
A*


 


	 	CATEGORY OF INDEMNIFIABLE EVENT	LIMIT AMOUNT PER EACH SPECIFIC EVENT WITHIN THIS CATEGORY OF EVENTS
	1.	Claims in connection with employment relationships with and/or by employees of the Company, and in connection with business relations between the Company and its employees, independent contractors, customers, suppliers and various service providers.	The greater of (a) twenty-five percent (25%) of the Company’s total shareholders’ equity according to the Company’s most recent financial statements as of the time of the actual payment of indemnification and (b) $25,000,000 (the “Maximum Amount”)
	2.	Negotiations, execution, delivery and performance of agreements of any kind or nature, anti-competitive acts,acts of commercial wrongdoing, approval of corporate actions including the approval of the acts of the Company’s management, their guidance and their supervision, actions concerning the approval of transactions with Office Holders or shareholders, including controlling persons and claims of failure to exercise business judgment and a reasonable level of proficiency, expertise and care with respect to the Company’s business.  	The Maximum Amount
	3.	Violation, infringement and other misuse of copyrights, patents, designs, trade secrets and any other intellectual property rights, breach of confidentiality obligations, acts in regard of invasion of privacy including with respect to databases or personal information, acts in connection with slander and defamation, and claims in connection with publishing or providing any information, including any filings with any governmental authorities, whether or not required under any applicable laws.	The Maximum Amount
	




    	 



    	 



    


	 	CATEGORY OF INDEMNIFIABLE EVENT	LIMIT AMOUNT PER EACH SPECIFIC EVENT WITHIN THIS CATEGORY OF EVENTS
	4.	Liabilities related to the violation, infringement and other misuse of copyrights, patents, designs, trade secrets and any other intellectual property rights of the Company and/or any Subsidiary and its protection, including the registration or assertion of rights to intellectual property and the defense of claims related to intellectual property. 	The Maximum Amount
	5.	Violations of securities laws of any jurisdiction, including without limitation, fraudulent disclosure claims, failure to comply with any securities authority or any stock exchange disclosure or other rules and any other claims relating to relationships with investors, debt holders, shareholders and the investment community and any claims related to the Sarbanes-Oxley Act of 2002, as amended from time to time; claims relating to or arising out of financing arrangements, any breach of financial covenants or other obligations towards lenders or debt holders of the Company, class actions, violations of laws requiring the Company to obtain regulatory and governmental licenses, permits and authorizations in any jurisdiction; actions taken in connection with the issuance of any type of securities of Company, including, without limitation, the grant of options to purchase any of the same.	The Maximum Amount
	6.	Liabilities arising from the conduct of clinical trials and/or testing, development or manufacturing of products developed or services provided by the Company and/or any Subsidiary or in connection with the distribution, sale, marketing, license or use of such products or services, including without limitations in connection with professional liability and product liability claims.	The Maximum Amount
	7.	The offering of securities by the Company to the public and/or to private investors or the offer by the Company to purchase securities from the public and/or from private investors or other holders pursuant to a prospectus, agreements, notices, reports, tenders and/or other proceedings.	The Maximum Amount
	8.	Events in connection with change in ownership or in the structure of the Company, its reorganization, dissolution, or any decision concerning any of the foregoing, including but not limited to, merger, sale or acquisition of assets, division or change in capital.     	The Maximum Amount
	9.	Any claim or demand made in connection with any transaction not in the ordinary course of business of the Company, including the sale, lease or purchase of any assets or business.	The Maximum Amount



 



    	 



    	 



    



	 	CATEGORY OF INDEMNIFIABLE EVENT	LIMIT AMOUNT PER EACH SPECIFIC EVENT WITHIN THIS CATEGORY OF EVENTS
	10.	Any claim or demand made by any third party suffering any personal injury and/or bodily injury or damage to business or personal property or any other type of damage through any act or omission attributed to the Company, or its employees, agents or other persons acting or allegedly acting on its behalf, including, without limitation, failure to make proper safety arrangements for the Company or its employees and liabilities arising from any accidental or continuous damage or harm to the Company’s employees, its contractors, its guests and visitors as a result of an accidental or continuous event, or employment conditions, permanent or temporary, in the Company’s offices.	The Maximum Amount
	11.	Any claim or demand made directly or indirectly in connection with complete or partial failure, by the Company or its directors, officers and employees, to pay, report, keep applicable records or otherwise, of any foreign, federal, state, county, local, municipal or city taxes or other compulsory payments of any nature whatsoever, including, without limitation, income, sales, use, transfer, excise, value added, registration, severance, stamp, occupation, customs, duties, real property, personal property, capital stock, social security, unemployment, disability, payroll or employee withholding or other withholding, including any interest, penalty or addition thereto, whether disputed or not.	The Maximum Amount
	12.	Any administrative, regulatory, judicial or civil actions orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance or violation by any governmental entity or other person alleging potential responsibility or liability (including potential responsibility or liability for costs of enforcement investigation, cleanup, governmental response, removal or remediation, for natural resources damages, property damage, personal injuries or penalties or for contribution, indemnification, cost recovery, compensation or injunctive relief) arising out of, based on or related to (a) the presence of, release, spill, emission, leaning, dumping, pouring, deposit, disposal, discharge, leaching or migration into the environment (each a “Release”) or threatened Release of, or exposure to, any hazardous, toxic, explosive or radioactive substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing material, polychlorinated biphenyls (“PCBs”) or PCB-containing materials or equipment, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any environmental law, at any location, whether or not owned, operated, leased or managed by the Company or any of its subsidiaries, or (b) circumstances forming the basis of any violation of any environmental law or environmental permit, license, registration or other authorization required under applicable environmental law and/or public health law.	The Maximum Amount



 


    	 



    	 



    

	 	CATEGORY OF INDEMNIFIABLE EVENT	LIMIT AMOUNT PER EACH SPECIFIC EVENT WITHIN THIS CATEGORY OF EVENTS
	13.	Any administrative, regulatory or judicial actions, orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance or violation by any governmental entity or other person alleging the failure to comply with any statute, law, ordinance, rule, regulation, order or decree of any governmental entity applicable to the Company or any of its businesses, assets or operations, or the terms and conditions of any operating certificate or licensing agreement.	The Maximum Amount
	14.	Participation and/or non-participation at the Company’s Board meetings, bona fide expression of opinion and/or voting and/or abstention from voting at the Company’s Board meetings.	The Maximum Amount
	15.	Review and approval of the Company’s financial statements, including any action, consent or approval related to or arising from the foregoing, including, without limitations, execution of certificates for the benefit of third parties related to the financial statements.  	The Maximum Amount
	16.	All actions, consents and approvals relating to a distribution of dividends, in cash or otherwise.	The Maximum Amount
	17.	Liabilities arising out of advertising, including misrepresentations regarding the Company's products and unlawful distribution of emails.	The Maximum Amount
	18.	An announcement, a statement, including a position taken, or an opinion or representation made in good faith by the Office Holder in the course of his duties and in conjunction with his duties, whether in public or in private, including during a meeting of the Board of Directors of the Company or any of the committees of the Board of Directors of the Company.	The Maximum Amount
	19.	Money management, management of the Company’s bank accounts in the areas of activity in which the Company is engaged at banks, including foreign currency deposits, securities, loans and credit facilities, credit cards, bank guarantees, letters of credit, consultation agreements concerning investments including with portfolio managers, hedging transactions, options, futures, and the like.	The Maximum Amount



 


    	 



    	 



    

	 	CATEGORY OF INDEMNIFIABLE EVENT	LIMIT AMOUNT PER EACH SPECIFIC EVENT WITHIN THIS CATEGORY OF EVENTS
	20.	Any action or decision in relation to protection of work safety and/or working conditions, including with respect to provisions of the law, procedures or standards as applicable in or outside of Israel with relating to protection of work safety, pertaining, inter alia, to contamination, health protection, production processes, distribution, use, treatment, storage and transportation of certain materials, including in connection with corporal damage, property and environmental damages.	The Maximum Amount
	21.	Any liability arising under any administrative, regulatory, judicial or civil actions orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance or violation of Section 50P(b)(2) of the Israeli Restrictive Trade Practices Law, 5758-1988 	The Maximum Amount
	 	Aggregate Limit Amount for all events together: The greater of (a) twenty-five percent (25%) of the Company’s total shareholders’ equity according to the Company’s most recent financial statements as of the time of the actual payment of indemnification and (b) $25,000,000	The Maximum Amount


 
 

		*	Any reference in this Exhibit A to the Company shall include the Company and any entity in which the
Indemnitee serves in a Corporate Capacity.