**Form      of Revised Director Indemnity Agreement**

**[Marked      to reflect additions to the Director Indemnity Agreement previously approved      by      the Shareholders Meeting]**

**Company**
**Indemnitee**

| **WHEREAS,**  | Indemnitee                is a director and/or Office Holder of the Company;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
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| **WHEREAS**,       | both                the Company and Indemnitee recognize the risk of litigation and other                claims being asserted against Office Holders of public companies;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| **WHEREAS**,       | the                Articles of Association of the Company authorize the Company to indemnify                directors; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| **WHEREAS**,       | in                recognition of Indemnitee’s need for substantial protection against                personal liability in order to assure Indemnitee’s continued service to                the Company in an effective manner and Indemnitee’s reliance on the                aforesaid Articles of Association and, in part, to provide Indemnitee                with                specific contractual assurance that the protection promised by the                Articles of Association will be available to Indemnitee (regardless                of,                among other things, any amendment to or revocation or any change                in the                composition of the Company’s Board of Directors or acquisition of the                Company), the Company wishes to provide in this Agreement for the                indemnification of and the advancing of expenses to Indemnitee to                the full                extent (whether partial or complete) permitted by law and as set                forth in                this Agreement. |

**NOW,      THEREFORE**

**1.      **
**CERTAIN      DEFINITIONS**

| 1.1 | Change                in Control:                shall be deemed to have occurred if: (i) any “person” (as such term is                used in Section 13(d) and 14(d) of the Securities Exchange Act of                1934, as                amended), other than a trustee or other fiduciary holding securities                under                an employee benefit plan of the Company or a corporation owned directly                or                indirectly by the shareholders of the Company in substantially the                same                proportions as their ownership of shares of the Company, is or becomes                the                “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or                indirectly, of securities of the Company representing 20% or more                of the                total voting power represented by the Company’s then outstanding voting                securities; or (ii) during any period of two consecutive years,                individuals who at the beginning of such period constitute the Board                of                Directors of the Company and any new director whose election by the                Board                of Directors or nomination for election by the Company’s shareholders was                approved by a majority of the directors then still in office who                either                were directors at the beginning of the period of whose election or                nomination for election was previously so approved, cease for any                reason                to constitute a majority thereof; or (iii) the shareholders of the                Company                approve a merger or consolidation of the Company with any other                corporation, other than a merger or consolidation which would result                in                the voting securities of the Company outstanding immediately prior                thereto                continuing to represent (either by remaining outstanding or by being                converted into voting securities of the surviving entity) at least                80% of                the total voting power represented by the voting securities of the                Company                or such surviving entity outstanding immediately after such merger                or                consolidation, or the shareholders of the Company approve a plan                of                complete liquidation of the Company or an agreement for the sale                or                disposition by the Company of all or substantially all the Company’s                assets. |
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|   |   |
|--------|--------|
| 1.2 | Company:                means                Radware Ltd., and for the purpose of section 2 and the Events listed                in                Schedule A shall include subsidiaries, affiliates, local branches                and                representative offices or Radware Ltd. |
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|   |   |
|--------|--------|
| 1.3 | Office                Holder:                as such term is defined in the Companies Law - 5759-1999. |
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|   |   |
|--------|--------|
| 1.4 | Events:                mean events which the Company’s Board of Directors determined, in light of                the Company’s actual operations, to be foreseeable events which may expose                the Indemnitee to liability or expense, as detailed in Schedule A                to this                Agreement. |
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|   |   |
|--------|--------|
| 1.5 | Position:                means the position of an Office Holder in the Company or any subsidiary                of                the Company or any entity in which Indemnitee serves as an Office                Holder                at the request of the Company either prior to or after the date                hereof |
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| **2.** | **INDEMNIFICATION                AND ADVANCEMENT OF                EXPENSES** |
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| 2.1 | The                Company hereby undertakes to indemnify the Indemnitee to the fullest                extent permitted by applicable law, for any liability and expense                that may                be imposed on him/her with respect to the                following: |
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|   | 2.1.1 | monetary                liability imposed on the Indemnitee in favor of a third party in                a                judgment, including a settlement or an arbitral award confirmed by                a                court, for an act that the Indemnitee performed by virtue of being                an                Office Holder of the Company and/or holding any Position;                and |
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|   |   |   |
|--------|--------|--------|
|   | 2.1.2 | reasonable                litigation expenses, including attorney’s fees, expended by the Indemnitee                as a result of an investigation or proceeding instituted against                him or                her by a competent authority, provided that such investigation or                proceeding concluded without the filing of an indictment against                him or                her and either (A) concluded without the imposition of any financial                liability in lieu of criminal proceedings or (B) concluded with the                imposition of a financial liability in lieu of criminal proceedings                but                relates to a criminal offense that does not require proof of criminal                intent; and |
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|   |   |   |
|--------|--------|--------|
|   | 2.1.3   | reasonable                costs of litigation, including attorneys’ fees, expended by the Indemnitee                or for which the Indemnitee has been charged by a court, in an action                brought against the Indemnitee by or on behalf of the Company or                a third                party, or in a criminal action in which the Indemnitee was acquitted,                or                in a criminal offense for which the Indemnitee was convicted and                for which                a proof of criminal intent is not                required. |
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|   |   |   |
|--------|--------|--------|
|   |   | The              above indemnification shall apply to any act performed or failure to              act              by the Indemnitee in his/her capacity as an Office Holder of the Company              or as the holder of any Position. |
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| 2.2 | The                Company’s indemnification undertaking pursuant                to Section 2.1.1                shall cover the Events described in Schedule A hereto, and the                indemnification amount payable by the Company under Section                2.1.1                for each Event shall be limited to the amounts set forth in Schedule                A.                The Company’s                board of directors determined that                the amounts set forth in Schedule A are reasonable considering the                nature                of the event. |
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| 2.3 | If                so requested by Indemnitee, the Company shall advance an amount (or                amounts) estimated by it to cover Indemnitee’s reasonable litigation                expenses, including attorneys’ fees, with respect to which Indemnitee is                entitled to be indemnified under Section 2.1 above. |
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| 2.4 | The                Company’s obligation to indemnify Indemnitee and advance expenses in                accordance with this Agreement shall be for such period as Indemnitee                shall be subject to any possible claim or threatened, pending or                completed                action, suit or proceeding or any inquiry or investigation, whether                civil,                criminal or investigative, arising out of the Indemnitee’s service in the                foregoing positions, whether or not Indemnitee is still an                Office Holder of the Company                or                serving in any Position (the “**Indemnification                Period”**). |
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|   |   |
|--------|--------|
| **3. ** | **GENERAL                LIMITATIONS ON                INDEMNIFICATION** |
|--------------|--------------------------------------------------------------------------|

| 3.1 | If,                when and to the extent that the Indemnitee would not be permitted                to be so                indemnified under applicable law, the Company shall be entitled to                be                reimbursed by Indemnitee (who hereby agrees to reimburse the Company)                for                all such amounts theretofore paid, unless Indemnitee has commenced                legal                proceedings in a court of competent jurisdiction to secure a determination                that Indemnitee should be indemnified under applicable law, in which                event                Indemnitee shall not be required to so reimburse the Company until                a final                judicial determination is made with respect thereto as to which all                rights                of appeal therefrom have been exhausted or lapsed. In addition, in                such                event the Company shall not be obligated to indemnify or advance                any                additional amounts to Indemnitee, unless there has been a determination                by                a court or competent jurisdiction that the Indemnitee would be permitted                to be so indemnified under this Agreement. |
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| 3.2 | The                Company undertakes that in the event of a Change in Control of the                Company, the Company’s obligations under this Agreement shall continue to                be in effect following such Change in Control, such as by ensuring                that                the party acquiring control of the Company shall independently undertake                to continue in effect this Agreement or, if not applicable, enter                into a                similar agreement with Indemnitee on terms and conditions at least                as                favorable to Indemnitee as this Agreement, to maintain the provisions                of                the Articles of Association allowing indemnification, if applicable,                and,                in any event, to indemnify Indemnitee in the event that the Company                shall                not have sufficient funds or otherwise shall not be able to fulfill                its                obligations hereunder. |
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|   |   |
|--------|--------|
| **4.** | **NO MODIFICATION**. |
|--------|----------------------|

|   | No                supplement, modification or amendment 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. |
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| **5.**  | **SUBROGATION**. |
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|   |   |
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|   | 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 take any                  actions                  which may be necessary to secure such rights, including the execution                  of                  such documents necessary to enable the Company to effectively bring                  suit                  to enforce such rights. |
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|   |   |
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| **6.** | **REIMBURSEMENT**. |
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|   |   |
|--------|--------|
|   | 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 received payment (under any insurance policy or otherwise)                  of the amounts indemnified hereunder. Any amounts paid to Indemnitee                  under                  such insurance policy or otherwise after the Company has indemnified                  the                  Indemnitee for such liability or expense shall be repaid to the                  Company                  promptly upon receipt by Indemnitee. |
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|   |   |
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| **7.** | **EFFECTIVENESS**. |
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|   |   |
|--------|--------|
|   | Subject                  to the receipt of all the required approvals in accordance with                  the                  Israeli Law, including the approvals of the audit committee, the                  Board of                  Directors and to the extent required, by the shareholders of the                  Company,                  this Agreement shall be in full force and effect as of the date                  hereof. |
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|   |   |
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| **8.** | **NOTIFICATION                  AND DEFENSE OF CLAIM.** |
|--------|---------------------------------------------------------|
|   |   |
|--------|--------|
| 8.1 | Promptly                  after receipt by Indemnitee of notice of the commencement of any                  action,                  suit or proceeding which may give rise to an indemnity claim by                  Indemnitee                  under this Agreement, Indemnitee will promptly notify the Company                  in                  writing of the commencement hereof; but the omission so to notify                  the                  Company will not release the Company from any liability which it                  may have                  under this Agreement. With respect to any such action, suit or                  proceeding                  of which Indemnitee notifies the Company, and without derogating                  from                  Clause 2.1: |
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|   |   |
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|   | 8.1.1    The Company will be                entitled to participate therein at its own expense;                and |
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|   |   |
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|   | 8.1.2    Except                as otherwise provided below, the Company (jointly with any other                indemnifying party) will be entitled (but is not obligated) to assume                the                defense thereof, with counsel reasonably satisfactory to Indemnitee.                After                notice from the Company to Indemnitee of its election to assume the                defense thereof, the Company will not be liable to Indemnitee under                this                Agreement for any legal or other expenses subsequently incurred by                Indemnitee in connection with the defense thereof other than reasonable                costs of investigation or as otherwise provided below. In the event                the                Company has assumed the defense as provided herein, Indemnitee shall                have                the right to engage a separate counsel in such action, suit or proceeding                at his/her expense. The Company, however, will bear the expense or                indemnify the Indemnitee for the fees of such separate counsel in                the                following events: (i) the engagement of counsel by Indemnitee has                been                authorized by the Company in writing and in advance; or (ii) 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                such action. |
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| 8.2 | The                Company shall not be liable to indemnify the Indemnitee under this                Agreement for any amounts paid in settlement of any action or claim                effected without its written consent. The Company shall not settle                any                action or claim in any manner which would impose any penalty or limitation                on the Indemnitee without the Indemnitee’s written consent. Neither the                Company nor the Indemnitee will unreasonably withhold their consent                to any                proposed settlement. |
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| **9.** | **NON-EXCLUSIVITY**. |
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|   | The                rights of the Indemnitee hereunder shall not be deemed exclusive                of any                other rights he/she may have under the Company’s Articles of Association                or applicable law or otherwise, and to the extent that during the                Indemnification Period the rights of the then existing directors                and                Office Holders are more favorable to such directors or Office Holders                than                the rights currently provided thereunder or under this Agreement                to                Indemnitee, Indemnitee shall be entitled to the full benefits of                such more                favorable rights. |
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| **10.** | **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,                assigns, 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, spouses, heirs and personal and legal                representatives. This Agreement shall continue in effect during the                Indemnification Period, regardless of whether Indemnitee continues                to                serve as an Office Holder or director of the Company or of any other                enterprise at the Company’s request. |
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| **11.** | **SEVERABILITY**. |
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|   |   |
|--------|--------|
|   | The                provisions of this Agreement shall be severable in the event that                any                provision hereof (including any provision within a single section,                paragraph or sentence) is held by a court of competent jurisdiction                to be                invalid, void or otherwise unenforceable, and the remaining provisions                shall remain enforceable to the fullest extent permitted by law. |
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| **12.** | **GOVERNING                LAW, JURISDICTION**. |
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|   |   |
|--------|--------|
|   | This                Agreement shall be governed by and construed and enforced in accordance                with the laws of the State of Israel. The parties hereto irrevocably                submit to the exclusive jurisdiction of the courts of Tel-Aviv in                any                action related to this Agreement. |
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| **13.** | **ENTIRE                AGREEMENT AND TERMINATION**. |
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|   |   |
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|   | This                Agreement represents the entire agreement between the parties; and                there                are no other agreements, contracts or understandings between the                parties                with respect to the subject matter of this Agreement. No termination                or                cancellation of this Agreement shall be effective unless in writing                and                signed by both parties hereto. |
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**Schedule      A**

|  1.       |   |  Negotiations,                execution, delivery and performance of agreements on behalf of the                Company, including, without derogating from the generality of the                foregoing, claims for breach of contract, breach of warranty or false                representations                                                                                                                                                                                                      |   |  $20,000,000  |
|----------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|
|  2.       |   |  Without                derogating from the above, acts and omissions in connection with                the sale                and/or purchase of assets, shares and/or legal entities, including                any                investments, mergers and acquisitions                                                                                                                                                                                                                                 |   |  $20,000,000  |
|  3.       |   |  Anti-competitive                acts and acts of commercial wrongdoing                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |  $20,000,000  |
|  4.       |   |  Acts                in regard of invasion of privacy including, without limitation, with                respect to databases and acts in regard of slander                                                                                                                                                                                                                                                                                                                                                |   |  $20,000,000  |
|  5.  |   |  Acts                in regard of violation of copyrights, patents, trademarks, service                marks,                designs and any other intellectual property rights; Acts in connection                with the intellectual property of the Company and/or Affiliates,                and its                protection, including the registration or assertion of rights to                intellectual property and the defense of claims related to intellectual                property  |   |  $20,000,000  |
|  6.       |   |  Acts                in regard of “Y2K” malfunctions                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |  $5,000,000   |
|  7.       |   |  Approval                of corporate actions including the approval of the   acts                of the Company’s management, their guidance and their                supervision                                                                                                                                                                                                                                                                                                         |   |  $20,000,000  |
|  8.       |   |  Claims                of failure to exercise business judgment and a reasonable level of                proficiency, expertise and care in regard of the Company’s business                                                                                                                                                                                                                                                                                                                         |   |  $20,000,000  |
|  9.       |   |  Violations                of securities laws of any jurisdiction, including without limitation,                fraudulent disclosure claims, failure to comply with SEC and/or Nasdaq                rules and other claims relating to relationships with investors and                the                investment community                                                                                                                                                                           |   |  $30,000,000  |
|  10.      |   |  Without                derogating from the above, any claim in connection with the offering                of                the Company’s securities to the public and/or based on a prospectus any                other public filings made by the Company                                                                                                                                                                                                                                        |   |  $20,000,000  |

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|  11. |   |  Violations                of laws requiring the Company to obtain regulatory and governmental                licenses, permits and authorizations in any jurisdiction                                                                                                                                                                           |   |  $20,000,000                          |
|-----------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------|
|  12. |   |  Claims                in connection with publishing or providing any information, including                any                filings with governmental authorities, on behalf of the Company in                the                circumstances required under applicable laws                                                                 |   |  $20,000,000                          |
|  13. |   |  Violations                of any law or regulation governing domestic and international trade                in any                jurisdiction, including, without limitation, export laws.                                                                                                                                                    |   |  $10,000,000                          |
|  14. |   |  Claims                in connection with employment relationships with Company’s or its                subsidiaries’ employees, including, without limitations, claims for                severance, unfair dismissal, harassment and discrimination                                                                                |   |  $10,000,000                per case  |
|  15. |   |  Acts                or omissions in connection with the management and operation of the                Company, including, without limitation, claims in connection with                the                Company’s relationship with suppliers, customers, distributors, resellers,                subcontractors, lessors and lessees  |   |  $10,000,000                          |
|  16. |   |  Without                derogating from the above, acts and omissions in connection with                the                management and monitoring of the Company’s funds and assets                                                                                                                                                     |   |  $20,000,000                          |
|  17. |   |  Actions                taken pursuant to or in accordance with the policies and procedures                of the                Company, whether such policies and procedures are published or                not.                                                                                                                              |   |  $10,000,000                          |
|  18. |   |  Actions                in connection with product liability, including, without limitation,                the                testing of products developed by the Company and/or in connection                with the                distribution, sale, license or use of such products;                                                     |   |  $10,000,000                          |