Document:

Exhibit 10.1

    

     

    

    
      EVOGENE LTD.

        $50.0 Million of Ordinary Shares

      (par value NIS 0.02 per share)

       

      Controlled Equity OfferingSM

       

      Sales Agreement

       

      February 19, 2021

       

      Cantor Fitzgerald & Co.

      499 Park Avenue

      New York, NY 10022

      

      

      Ladies and Gentlemen:

       

      Evogene Ltd., a company organized under the laws of the State of Israel (the “Company”), confirms its agreement (this “Agreement”) with Cantor Fitzgerald & Co. (the “Agent”), as follows:

       

      1.          Issuance and Sale of Shares.  The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set
        forth herein, it may issue and sell through the Agent, ordinary shares (the “Placement Shares”) of the Company, NIS 0.02 par value (the “Shares”), for an
        aggregate amount of up to $50.0 million; provided, however, that in no event shall the Company issue or sell through the Agent such number or dollar amount of
        Placement Shares that would (a) exceed the number or dollar amount of Shares registered on the effective Registration Statement (defined below) pursuant to which the offering is being made, (b) exceed the number of authorized but unissued Shares
        (less Shares issuable upon exercise, conversion or exchange of any outstanding securities of the Company or otherwise reserved from the Company’s authorized capital stock), (c) exceed the number or dollar amount of Shares permitted to be sold under
        Form F-3 (including General Instruction I.B.5 thereof, if applicable) or (d) exceed the number or dollar amount of Shares for which the Company has filed a Prospectus Supplement (defined below) (the lesser of (a), (b), (c) and (d), the “Maximum Amount”).  Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this Section 1 on the amount of Placement
        Shares issued and sold under this Agreement shall be the sole responsibility of the Company and that the Agent shall have no obligation in connection with such compliance.  The offer and sale of Placement Shares through the Agent will be effected
        pursuant to the Registration Statement (as defined below) filed by the Company upon such Registration Statement being  declared effective by the Securities and Exchange Commission (the “Commission”),
        although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue Placement Shares.

       

      
        
          

      

      
      The Company will file, in accordance with the provisions of the Securities Act of 1933, as amended (the “Securities Act”) and the
        rules and regulations thereunder (the “Securities Act Regulations”), with the Commission a registration statement on Form F-3, including a base prospectus, relating to certain securities, including the
        Placement Shares to be issued from time to time by the Company, and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations thereunder.  The Company has prepared a prospectus or a prospectus supplement to the base prospectus included as part of the registration statement, which
        prospectus or prospectus supplement relates to the Placement Shares to be issued from time to time by the Company (the “Prospectus Supplement”).  The Company will furnish to the Agent, for use by the
        Agent, copies of the prospectus included as part of such registration statement, as supplemented, by the Prospectus Supplement, relating to the Placement Shares to be issued from time to time by the Company.  The Company may file one or more
        additional registration statements from time to time that will contain a base prospectus and related prospectus or prospectus supplement, if applicable (which shall be a Prospectus Supplement), with respect to the Placement Shares.  Except where
        the context otherwise requires, such registration statement(s), including all documents filed as part thereof or incorporated by reference therein, and including any information contained in a Prospectus (as defined below) subsequently filed with
        the Commission pursuant to Rule 424(b) under the Securities Act Regulations or deemed to be a part of such registration statement pursuant to Rule 430B of the Securities Act Regulations, is herein called the “Registration

            Statement.”  The base prospectus or base prospectuses, including all documents incorporated therein by reference, included in the Registration Statement, as it may be supplemented, if necessary, by the Prospectus Supplement, in the
        form in which such prospectus or prospectuses and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule 424(b) under the Securities Act Regulations, together with the then issued Issuer Free
        Writing Prospectus(es), is herein called the “Prospectus.”

       

      Any reference herein to the Registration Statement, any Prospectus Supplement, Prospectus or any Issuer Free Writing Prospectus (defined below) shall be deemed to refer to and
        include the documents, if any, incorporated by reference therein (the “Incorporated Documents”), including, unless the context otherwise requires, the documents, if any, filed as exhibits to such
        Incorporated Documents. Any reference herein to the terms “amend,” “amendment” or “supplement” with respect to the Registration Statement, any Prospectus Supplement, the Prospectus or any Issuer Free Writing Prospectus shall be deemed to refer to
        and include the filing of any document under the Exchange Act on or after the most-recent effective date of the Registration Statement, or the date of the Prospectus Supplement, Prospectus or such Issuer Free Writing Prospectus, as the case may be,
        and incorporated therein by reference.  For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto shall be deemed to include the most recent copy filed with the Commission
        pursuant to its Electronic Data Gathering Analysis and Retrieval system, or if applicable, the Interactive Data Electronic Application system when used by the Commission (collectively, “EDGAR”).

       

      2.          Placements.  Each time that the Company wishes to issue and sell Placement Shares hereunder (each, a “Placement”),

        it will notify the Agent by email notice (or other method mutually agreed to by the parties) of the number of Placement Shares to be issued, the time period during which sales are requested to be made, any limitation on the number of Placement
        Shares that may be sold in any one day and any minimum price below which sales may not be made (a “Placement Notice”), the form of which is attached hereto as Schedule 1.  The Placement Notice
        shall originate from any of the individuals from the Company set forth on Schedule 3 (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from the Agent
        set forth on Schedule 3, as such Schedule 3 may be amended from time to time.  The Placement Notice shall be effective unless and until (i) the Agent declines to accept the terms contained therein for any reason, in its sole
        discretion, (ii) the entire amount of the Placement Shares thereunder have been sold, (iii) the Company suspends or terminates the Placement Notice or (iv) this Agreement has been terminated under the provisions of Section 12.  The amount
        of any discount, commission or other compensation to be paid by the Company to Agent in connection with the sale of the Placement Shares shall be calculated in accordance with the terms set forth in Schedule 2.  It is expressly acknowledged
        and agreed that neither the Company nor the Agent will have any obligation whatsoever with respect to a Placement or any Placement Shares unless and until the Company delivers a Placement Notice to the Agent and the Agent does not decline such
        Placement Notice pursuant to the terms set forth above, and then only upon the terms specified therein and herein.  In the event of a conflict between the terms of this Agreement and the terms of a Placement Notice, the terms of the Placement
        Notice will control.

       

      
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      3.          Sale of Placement Shares by the Agent.  Subject to the provisions of Section 5(a), the Agent, for the period specified in the Placement Notice, will
        use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of the Nasdaq Stock Market (the “Exchange”),

        to sell the Placement Shares up to the amount specified, and otherwise in accordance with the terms of such Placement Notice.  The Agent will provide written confirmation to the Company no later than the opening of the Trading Day (as defined
        below) immediately following the Trading Day on which it has made sales of Placement Shares hereunder setting forth the number of Placement Shares sold on such day, the compensation payable by the Company to the Agent pursuant to Section 2
        with respect to such sales, and the Net Proceeds (as defined below) payable to the Company, with an itemization of the deductions made by the Agent (as set forth in Section 5(b)) from the gross proceeds that it receives from such sales. 
        Subject to the terms of the Placement Notice, the Agent may sell Placement Shares by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) of the Securities Act Regulations, including sales made directly
        on or through the Exchange or any other existing trading market for the Shares, in negotiated transactions (with the prior written consent of the Company) at market prices prevailing at the time of sale or at
        prices related to such prevailing market prices and/or any other method permitted by law.  “Trading Day” means any day on which the Shares are traded on the Exchange.

       

      4.          Suspension of Sales.  The Company or the Agent may, upon notice to the other party in writing (including by email correspondence to each of the individuals of
        the other party set forth on Schedule 3, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable
        facsimile transmission or email correspondence to each of the individuals of the other party set forth on Schedule 3), suspend any sale of Placement Shares (a “Suspension”); provided, however, that such Suspension shall not affect or impair any party’s obligations with respect to any Placement Shares sold hereunder prior to the receipt of
        such notice.  While a Suspension is in effect any obligation under Sections 7(l), 7(m), and 7(n) with respect to the delivery of certificates, opinions, or comfort letters to the Agent, shall be waived. Each of the parties
        agrees that no such notice under this Section 4 shall be effective against any other party unless it is made to one of the individuals named on Schedule 3 hereto, as such Schedule may be amended from time to time.

       

      
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      5.          Sale and Delivery to the Agent; Settlement.

       

      (a)          Sale of Placement Shares.  On the basis of the representations and warranties herein contained and subject to the
        terms and conditions herein set forth, upon the Agent’s acceptance of the terms of a Placement Notice, and unless the sale of the Placement Shares described therein has been declined, suspended, or otherwise terminated in accordance with the terms
        of this Agreement, the Agent, for the period specified in the Placement Notice, will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable law and regulations to sell such Placement Shares up
        to the amount specified, and otherwise in accordance with the terms of such Placement Notice.  The Company acknowledges and agrees that (i) there can be no assurance that the Agent will be successful in selling Placement Shares, (ii) the Agent will
        incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Shares for any reason other than a failure by the Agent to use its commercially reasonable efforts consistent with its normal trading and
        sales practices and applicable law and regulations to sell such Placement Shares as required under this Agreement and (iii) the Agent shall be under no obligation to purchase Placement Shares on a principal basis pursuant to this Agreement, except
        as otherwise agreed by the Agent and the Company.

       

      (b)          Settlement of Placement Shares.  Unless otherwise specified in the applicable Placement Notice, settlement for sales
        of Placement Shares will occur on the second (2nd) Trading Day (or such earlier day as is industry practice for regular-way trading) following the date on which such sales are made (each, a “Settlement Date”). 

        The Agent shall notify the Company of each sale of Placement Shares no later than the opening of the Trading Day immediately following the Trading Day on which it has made sales of Placement Shares hereunder.  The amount of proceeds to be delivered
        to the Company on a Settlement Date against receipt of the Placement Shares sold (the “Net Proceeds”) will be equal to the aggregate sales price received by the Agent, after deduction for (i) the
        Agent’s commission, discount or other compensation for such sales payable by the Company pursuant to Section 2 hereof, and (ii) any transaction fees imposed by any Governmental Authority in respect of such sales.

       

      (c)           Delivery of Placement Shares.  On or before each Settlement Date, the Company will, or will cause its transfer agent
        to, electronically transfer the Placement Shares being sold by crediting the Agent’s or its designee’s account (provided the Agent shall have given the Company written notice of such designee at least one Trading Day prior to the Settlement Date)
        at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradable, transferable, registered
        shares in good deliverable form.  On each Settlement Date, the Agent will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement Date.  The Company agrees that if the Company, or
        its transfer agent (if applicable), defaults in its obligation to deliver Placement Shares on a Settlement Date, the Company agrees that in addition to and in no way limiting the rights and obligations set forth in Section 10(a) hereto, it
        will (i) hold the Agent harmless against any direct loss, claim, damage, or expense (including reasonable legal fees and expenses), as incurred, arising out of or in connection with such default by the Company or its transfer agent (if applicable)
        and (ii) pay to the Agent any commission, discount, or other compensation to which it would otherwise have been entitled absent such default.

       

      
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      (d)          Denominations; Registration.  Certificates for the Placement Shares, if any, shall be in such denominations and
        registered in such names as the Agent may request in writing at least one full Business Day (as defined below) before the Settlement Date.  The certificates for the Placement Shares, if any, will be made available by the Company for examination and
        packaging by the Agent in The City of New York not later than noon (New York time) on the Business Day prior to the Settlement Date.

       

      (e)          Limitations on Offering Size.  Under no circumstances shall the Company cause or request the offer or sale of any
        Placement Shares if, after giving effect to the sale of such Placement Shares, the aggregate gross sales proceeds of Placement Shares sold pursuant to this Agreement would exceed the lesser of (A) together with all sales of Placement Shares under
        this Agreement, the Maximum Amount and (B) the amount authorized from time to time to be issued and sold under this Agreement by the Company’s board of directors, a duly authorized committee thereof or a duly authorized executive committee, and
        notified to the Agent in writing.  Under no circumstances shall the Company cause or request the offer or sale of any Placement Shares pursuant to this Agreement at a price lower than the minimum price authorized from time to time by the Company’s
        board of directors, a duly authorized committee thereof or a duly authorized executive committee.  Further, under no circumstances shall the Company cause or permit the aggregate offering amount of Placement Shares sold pursuant to this Agreement
        to exceed the Maximum Amount.

       

      6.          Representations and Warranties of the Company.  The Company represents and warrants to, and agrees with Agent that as of the date of this Agreement and as of
        each Applicable Time (as defined below):

       

      (a)          Registration Statement and Prospectus.  The Company and the transactions contemplated by this Agreement meet the requirements for and comply with the
        applicable conditions set forth in Form F-3 (including General Instructions I.A and I.B) under the Securities Act.  The Registration Statement has been filed with the Commission and will be declared effective by the Commission under the Securities
        Act prior to the issuance of any Placement Notices by the Company. The Prospectus Supplement will name the Agent as the agent in the section entitled “Plan of Distribution.” The Company has not received, and has no written notice of, any order of
        the Commission preventing or suspending the use of the Registration Statement, or threatening or instituting proceedings for that purpose.  The Registration Statement and the offer and sale of Placement Shares as contemplated hereby meet the
        requirements of Rule 415 under the Securities Act and comply in all material respects with said Rule.  Any statutes, regulations, contracts or other documents that are required to be described in the Registration Statement or the Prospectus or to
        be filed as exhibits to the Registration Statement have been so described or filed.  Copies of the Registration Statement, the Prospectus, and any such amendments or supplements and all documents incorporated by reference therein that were filed
        with the Commission on or prior to the date of this Agreement have been delivered, or are available through EDGAR, to Agent and its counsel.  The Company has not distributed and, prior to the later to occur of each Settlement Date and completion of
        the distribution of the Placement Shares, will not distribute any offering material in connection with the offering or sale of the Placement Shares other than the Registration Statement and the Prospectus and any Issuer Free Writing Prospectus (as
        defined below) to which the Agent has consented.  The Shares are registered pursuant to Section 12(b) of the Exchange Act and is currently listed on the Exchange under the trading symbol “EVGN.”  The Company has taken no action designed to, or
        reasonably likely to have the effect of, terminating the registration of the Shares under the Exchange Act, delisting the Shares from the Exchange, nor has the Company received any written notification that the Commission or the Exchange is
        contemplating terminating such registration or listing.  To the Company’s knowledge, it is in compliance with all applicable listing requirements of the Exchange.

       

      
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      (b)          No Misstatement or Omission.  The Registration Statement, when it became or becomes effective, did not, and will not, contain an untrue statement of a
        material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading.  The Prospectus and any amendment and supplement thereto, on the date thereof and at each Applicable Time
        (defined below), did not or will not include an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.  The documents
        incorporated by reference in the Prospectus or any Prospectus Supplement did not, and any further documents filed and incorporated by reference therein will not, when filed with the Commission, contain an untrue statement of a material fact or omit
        to state a material fact required to be stated in such document or necessary to make the statements in such document, in light of the circumstances under which they were made, not misleading.  The foregoing shall not apply to statements in, or
        omissions from, any such document made in reliance upon, and in conformity with, information furnished to the Company by Agent specifically for use in the preparation thereof.

       

      (c)          Conformity with Securities Act and Exchange Act.  The Registration Statement, the Prospectus, any Issuer Free Writing Prospectus or any amendment or
        supplement thereto, and the documents incorporated by reference in the Registration Statement, the Prospectus or any amendment or supplement thereto, when such documents were or are filed with the Commission under the Securities Act or the Exchange
        Act or became or become effective under the Securities Act, as the case may be, conformed or will conform in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable.

       

      (d)          Financial Information.  The consolidated financial statements of the Company included or incorporated by reference in the Registration Statement and the
        Prospectus, if any, together with the related notes and schedules, present fairly, in all material respects, the consolidated financial position of the Company and the Subsidiaries (as defined below) as of the dates indicated and the consolidated
        results of operations, cash flows and changes in stockholders’ equity of the Company for the periods specified and have been prepared in material compliance with the requirements of the Securities Act and Exchange Act and in material conformity
        with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board applied on a consistent basis during the periods involved; there are no financial
        statements (historical or pro forma) that are required to be included or incorporated by reference in the Registration Statement and the Prospectus that are not included or incorporated by reference as required; the Company and the Subsidiaries (as
        defined below) do not have any material liabilities or obligations, direct or contingent (including any off-balance sheet obligations), not described in the Registration Statement (excluding the exhibits thereto) and the Prospectus; and all
        disclosures contained or incorporated by reference in the Registration Statement and the Prospectus and the Issuer Free Writing Prospectuses, if any, regarding “non-GAAP financial measures” (as such term is defined by the rules and regulations of
        the Commission) comply in all material respects with Regulation G of the Exchange Act and Item 10 of Regulation S-K under the Securities Act, to the extent applicable. The financial data set forth in each of the Registration Statement and the
        Prospectus under the caption “Capitalization” fairly presents, in all material respects, the information set forth therein on a basis consistent with that of the audited financial statements contained in the Registration Statement and the
        Prospectus. The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement and the Prospectus fairly presents the information called for in all material respects and has been
        prepared materially in accordance with the Commission’s rules and guidelines applicable thereto.

       

      
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      (e)          Conformity with EDGAR Filing.  The Prospectus delivered to the Agent for use in connection with the sale of the Placement Shares pursuant to this Agreement
        will be identical to the version of the Prospectus created to be transmitted to the Commission for filing via EDGAR, except to the extent permitted by Regulation S‐T.

       

      (f)          Organization.  The Company and each of its subsidiaries (as defined in Rule 405 under the Securities Act) (“Subsidiaries”)

        are duly organized, validly existing as a corporation and in good standing under the laws of their respective jurisdictions of organization.  The Company and each of its Subsidiaries are duly licensed or qualified as a foreign corporation for
        transaction of business and in good standing under the laws of each other jurisdiction in which their respective ownership or lease of property or the conduct of their respective businesses requires such license or qualification, and have all
        corporate power and authority necessary to own or hold their respective properties and to conduct their respective businesses as described in the Registration Statement and the Prospectus, except where the failure to be so qualified or in good
        standing or have such power or authority would not, individually or in the aggregate, have a material adverse effect or would reasonably be expected to have a material adverse effect on or affecting the assets, business, operations, earnings,
        properties, condition (financial or otherwise), prospects, stockholders’ equity or results of operations of the Company and the Subsidiaries taken as a whole, or prevent or materially interfere with the consummation of the transactions contemplated
        hereby (a “Material Adverse Effect”). The Company has not been designated as a “breaching company,” within the meaning of the Israeli Companies Law 5759-1999 and the rules and regulations promulgated
        thereunder (the “Companies Law”), by the Registrar of Companies of the State of Israel, nor has a proceeding been instituted by the Registrar of Companies in Israel for the dissolution of the Company.

       

      (g)          Subsidiaries.  Except as set forth in the Registration Statement, the Prospectus and Schedule 6(g), the Company owns, directly or indirectly, all of
        the equity interests of the Subsidiaries free and clear of any lien, charge, security interest, encumbrance, right of first refusal or other restriction, and all the equity interests of the Subsidiaries are validly issued and are fully paid,
        nonassessable and free of preemptive and similar rights.  Subject to applicable law, and except as disclosed in the Registration Statement and the Prospectus, no Subsidiary is currently prohibited, directly or indirectly, from paying any dividends
        to the Company, from making any other distribution on such Subsidiary’s share capital, from repaying to the Company any loans or advances to such Subsidiary from the Company or from transferring any of such Subsidiary’s property or assets to the
        Company or any other Subsidiary of the Company.

       

      (h)          No Violation or Default.  Neither the Company nor any of its Subsidiaries is (i) in violation of its charter or by‐laws or similar organizational documents;
        (ii) in default, and no event has occurred that, with written notice or lapse of time or both, would constitute such a default, in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of
        trust, loan agreement or other agreement or instrument to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound or to which any of the property or assets of the Company or any of its
        Subsidiaries are subject; or (iii) in violation of any law of any Governmental Authority, except, in the case of each of clauses (ii) and (iii) above, for any such violation or default that would not, individually or in the aggregate, reasonably be
        expected to have a Material Adverse Effect.  To the Company’s knowledge, no other party under any material contract or other agreement to which it or any of its Subsidiaries is a party is in default in any respect thereunder where such default
        would reasonably be expected to have a Material Adverse Effect.

       

      
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      (i)          No Material Adverse Effect.  Subsequent to the respective dates as of which information is given in the Registration Statement, the Prospectus and the Free
        Writing Prospectuses, if any (including any document deemed incorporated by reference therein), there has not been (i) any Material Adverse Effect or the occurrence of any development that the Company reasonably expects will result in a Material
        Adverse Effect, (ii) any transaction which is material to the Company and the Subsidiaries taken as a whole, (iii) any obligation or liability, direct or contingent (including any off-balance sheet obligations), incurred by the Company or any
        Subsidiary, which is material to the Company and the Subsidiaries taken as a whole, (iv) any material change in the share capital or outstanding long-term indebtedness of the Company or any of its Subsidiaries or (v) any dividend or distribution of
        any kind declared, paid or made on the share capital of the Company or any Subsidiary, other than in each case above in the ordinary course of business or as otherwise disclosed in the Registration Statement or Prospectus (including any document
        deemed incorporated by reference therein).

        

      

      (j)          Capitalization.  The issued and outstanding share capital of the Company (i) have been validly issued, are fully paid and nonassessable, (ii) other than as
        disclosed in the Registration Statement or the Prospectus, are not subject to any preemptive rights, rights of first refusal or similar rights, except as have been duly waived, satisfied or terminated prior to the date hereof and (iii) were issued
        in compliance with the Companies Law and the Israeli Securities Law 5728-1968 and the rules and regulations promulgated thereunder including any rules promulgated by the Tel Aviv Stock Exchange (respectively, “TASE”
        and “Securities Law”).  The Company has an authorized, issued and outstanding and fully diluted capitalization as set forth in the Registration Statement and the Prospectus as of the dates referred to
        therein (other than the grant of additional options under the Company’s existing stock option plans, or changes in the number of outstanding Shares of the Company due to the issuance of shares upon the exercise or conversion of securities
        exercisable for, or convertible into, Shares outstanding on the date hereof) and such authorized share capital conforms to the description thereof set forth in the Registration Statement and the Prospectus. The description of the securities of the
        Company in the Registration Statement and the Prospectus is complete and accurate in all material respects.  Except as disclosed in or contemplated by the Registration Statement or the Prospectus, as of the date referred to therein, the Company
        does not have outstanding any options to purchase, or any rights or warrants to subscribe for, or any securities or obligations convertible into, or exchangeable for, or any contracts or commitments to issue or sell, any Shares or other securities
        of the Company.

       

      
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      (k)          Authorization; Enforceability.  The Company has full legal right, power and authority to enter into this Agreement and perform the transactions contemplated
        hereby.  This Agreement has been duly authorized, executed and delivered by the Company and is a legal, valid and binding agreement of the Company enforceable in accordance with its terms, except to the extent that enforceability may be limited by
        bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and by general equitable principles.

       

      (l)          Authorization of the Placement Shares.  The Placement Shares have been duly authorized for issuance and sale pursuant to this Agreement and, when issued and
        delivered by the Company against payment therefor pursuant to this Agreement, will be duly and validly issued, fully paid and nonassessable, free and clear of any pledge, lien, encumbrance, security interest or other claim, including any statutory
        or contractual preemptive rights, resale rights, rights of first refusal or other similar rights, and will be registered pursuant to Section 12 of the Exchange Act. The Placement Shares, when issued, will conform in all material respects to the
        description thereof set forth in or incorporated into the Registration Statement and the Prospectus.

       

      (m)          No Consents Required. No consent, approval, authorization, order, registration or qualification of or with any Governmental Authority is required for the
        execution, delivery and performance by the Company of this Agreement, the issuance and sale by the Company of the Placement Shares, except for (i) such consents, approvals, authorizations, orders, registrations with or qualifications as may be
        required under applicable state securities laws, the rules of Financial Industry Regulatory Authority Inc. (“FINRA”), The Nasdaq Global Market (the “Nasdaq”)

        and the approval of the TASE in connection with the sale of the Placement Shares and (ii) such consents, approvals, authorizations, orders and registrations or qualifications as have been obtained or made prior to the date of this Agreement and
        remain in full force and effect as of the date of this Agreement.

       

      (n)          Israeli Government Grants. Neither the Company nor any of its Subsidiaries is in violation with respect to any instrument of approval or grant which has been
        granted to it by the Israel Innovation Authority of the Israeli Ministry of Economy and Industry.

       

      (o)          No Preferential Rights.  Except as set forth in the Registration Statement and the Prospectus, (i) no person, as such term is defined in Rule 1‐02 of
        Regulation S‐X promulgated under the Securities Act (each, a “Person”), has the right, contractual or otherwise, to cause the Company to issue or sell to such Person any Shares or shares of any other
        share capital or other securities of the Company, (ii) no Person has any preemptive rights, resale rights, rights of first refusal, rights of co-sale, or any other rights (whether pursuant to a “poison pill” provision or otherwise) to purchase any
        Shares or shares of any other share capital or other securities of the Company, (iii)  no Person has the right to act as an underwriter or as a financial advisor to the Company in connection with the offer and sale of the Placement Shares, and
        (iv) no Person has the right, contractual or otherwise, to require the Company to register under the Securities Act any Shares or shares of any other share capital or other securities of the Company, or to include any such shares or other
        securities in the Registration Statement or the offering contemplated thereby, whether as a result of the filing or effectiveness of the Registration Statement or the sale of the Placement Shares as contemplated thereby or otherwise.

       

      
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      (p)          Independent Public Accounting Firm.  Kost Forer Gabay & Kasierer, a member firm of Ernst & Young Global (the “Accountant”),

        whose report on the consolidated financial statements of the Company is filed with the Commission as part of the Company’s most recent Annual Report on Form 20-F filed with the Commission and incorporated by reference into the Registration
        Statement and the Prospectus, are and, during the periods covered by their report, were an independent registered public accounting firm within the meaning of the Securities Act and the Public Company Accounting Oversight Board (United States).  To
        the Company’s knowledge (based solely on the Accountant's confirmation to the Company), the Accountant is not in violation of the auditor independence requirements of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley

            Act”) with respect to the Company.

       

      (q)          Enforceability of Agreements.  All agreements between the Company and third parties expressly referenced in the Prospectus are legal, valid and binding
        obligations of the Company enforceable in accordance with their respective terms, except to the extent that (i) enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights
        generally and by general equitable principles and (ii) the indemnification provisions of certain agreements may be limited by federal or state securities laws or public policy considerations in respect thereof.

       

      (r)          No Litigation.  Except as set forth in the Registration Statement or the Prospectus, there are no actions, suits or proceedings by or before any Governmental
        Authority pending, nor, to the Company’s knowledge, any audits or investigations by or before any Governmental Authority, to which the Company or a Subsidiary is a party or to which any property of the Company or any of its Subsidiaries is the
        subject that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect and, to the Company’s knowledge, no such actions, suits, proceedings, audits or investigations are threatened or contemplated by any
        Governmental Authority or threatened by others; and (i) there are no current or pending audits, investigations, actions, suits or proceedings by or before any Governmental Authority that are required under the Securities Act to be described in the
        Prospectus that are not so described; and (ii) there are no contracts or other documents to which the Company is a party and which are required under the Securities Act to be filed as exhibits to the Registration Statement that are not so filed.

       

      (s)          [RESERVED].

       

      
        - 10 -

        
          

      

      (t)          Consents and Permits.  Except as disclosed in the Registration Statement and the Prospectus, the Company and its Subsidiaries have made all filings,
        applications and submissions required by, possesses and is operating in compliance with, all approvals, licenses, certificates, certifications, clearances, consents, grants, exemptions, marks, notifications, orders, permits and other authorizations
        issued by, the appropriate federal, state or foreign Governmental Authority (including the United States Department of Agriculture, the United States Food and Drug Administration (the “FDA”), the
        United States Drug Enforcement Administration, the Israeli Medical Cannabis Agency (the “IMCA”), or any other foreign, federal, state, provincial or local Government Authorities engaged in the
        regulation of clinical trials, pharmaceuticals, biologics or biohazardous substances or materials) necessary for the ownership or lease of their respective properties or to conduct its businesses as described in the Registration Statement and the
        Prospectus (collectively, “Permits”), except for such Permits the failure of which to possess, obtain or make the same would not have a Material Adverse Effect; the Company and its Subsidiaries are in
        compliance with the terms and conditions of all such Permits, except where the failure to be in compliance would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect; all of the Permits are valid and in
        full force and effect, except where any invalidity, individually or in the aggregate, would not be reasonably expected to have a Material Adverse Effect; and neither the Company nor any of its Subsidiaries has received any written notice relating
        to the limitation, revocation, cancellation, suspension, modification or non-renewal of any such Permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would reasonably be expected to have a Material
        Adverse Effect, or has any reason to believe that any such license, certificate, permit or authorization will not be renewed in the ordinary course.  To the extent required by applicable rules of the FDA, the Company or the applicable Subsidiary
        has submitted to the FDA an Investigational New Drug Application or amendment or supplement thereto for each clinical trial it has conducted or sponsored or is conducting or sponsoring; all such submissions were in material compliance with
        applicable laws when submitted and no material deficiencies have been asserted by the FDA with respect to any such submissions.  The Company and each Subsidiary possess such valid and current certificates, authorizations or permits issued by the
        appropriate state, federal or foreign regulatory agencies or bodies necessary to conduct their respective businesses, and neither the Company nor any Subsidiary has received, or has any reason to believe that it will receive, any written notice of
        proceedings relating to the revocation or modification of, or non-compliance with, any such certificate, authorization or permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would reasonably be
        expected to result in a Material Adverse Effect. The Company has not applied for “approved enterprise”, “benefited enterprise” or “preferred enterprise” status with respect to any of the Company’s facilities or operations or with respect to any
        grants or benefits from the Israeli Innovation Authority or the Investment Center, except as otherwise stated in the Prospectus.

       

      (u)          Regulatory Filings. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor any of its Subsidiaries has failed to file
        with the applicable Governmental Authority (including the TASE, the Israeli Securities Authority, IMCA, FDA, or any foreign, federal, state, provincial or local Governmental Authority performing functions similar to those performed by the FDA) any
        required filing, declaration, listing, registration, report or submission, except for such failures that, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect; except as disclosed in the Registration
        Statement and the Prospectus, all such filings, declarations, listings, registrations, reports or submissions were in compliance with applicable laws when filed and no deficiencies have been asserted by any applicable regulatory authority with
        respect to any such filings, declarations, listings, registrations, reports or submissions, except for any deficiencies that, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect.  The Company has
        operated in the last five full financial years and currently is, in all material respects, in compliance with the United States Federal Food, Drug, and Cosmetic Act, the IMCA, all applicable rules and regulations of the FDA and other federal,
        state, local and foreign Governmental Authority exercising comparable authority.  The Company has no knowledge of any studies, tests or trials not described in the Registration Statement and the Prospectus the results of which reasonably call into
        question in any material respect the results of the studies, tests and trials described in the Registration Statement and the Prospectus. Each individual employed by the Company and the Subsidiaries in a key position who is required to hold
        security clearance under the rules of the IMCA in order to maintain any material authorizations holds, or is in the process of securing, such clearance, and in the event of any failure by any such individual to obtain a required security clearance,
        the Company will ensure the prompt removal of such individual from the applicable key position.

       

      
        - 11 -

        
          

      

      (v)          Intellectual Property.  Except as disclosed in the Registration Statement and the Prospectus, the Company and its Subsidiaries own, possess, license or have
        other rights to use all foreign and domestic patents, patent applications, trade and service marks, trade and service mark registrations, trade names, copyrights, licenses, inventions, trade secrets, technology, Internet domain names, know-how and
        other intellectual property (collectively, the “Intellectual Property”), necessary for the conduct of their respective businesses as now conducted except to the extent that the failure to own, possess,
        license or otherwise hold adequate rights to use such Intellectual Property would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.  Except as disclosed in the Registration Statement and the Prospectus
        (i) to the Company’s knowledge, there are no rights of third parties to any such Intellectual Property owned by the Company and its Subsidiaries; (ii) to the Company’s knowledge, there is no infringement by third parties of any such Intellectual
        Property; (iii) there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or claim by others challenging the Company’s and its Subsidiaries’ rights in or to any such Intellectual Property and the Company’s officers are
        unaware of any facts which could form a reasonable basis for any such action, suit, proceeding or claim ; (iv) there is no pending or, to the Company’s knowledge,
        threatened action, suit, proceeding or claim by others challenging the validity or scope of any such Intellectual Property; (v) there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or claim by others that the
        Company and its Subsidiaries infringe or otherwise violate any patent, trademark, copyright, trade secret or other proprietary rights of others; (vi) to the Company’s knowledge, there is no third-party U.S. patent or published U.S. patent
        application which contains claims for which an Interference Proceeding (as defined in 35 U.S.C. § 135) has been commenced against any patent or patent application described in the Registration Statement, the Prospectus as being owned by or licensed
        to the Company; and (vii) the Company and its Subsidiaries have complied with the material terms of each agreement pursuant to which Intellectual Property has been licensed to the Company or such Subsidiary, and all such agreements are in full
        force and effect, except, in the case of any of clauses (i)-(vii) above, for any such restrictions pursuant to third party rights, infringement by third parties or any such pending or threatened suit, action, proceeding or claim as would not
        reasonably be expected individually or in the aggregate, to result in a Material Adverse Effect.

       

      (w)          Clinical Studies.  The preclinical studies and tests and clinical trials described in the Registration Statement and the Prospectus, if any, were, and, if
        still pending, are being conducted in all material respects in accordance with the experimental protocols, procedures and controls pursuant to, where applicable, accepted professional and scientific standards for products or product candidates
        comparable to those being developed by the Company; the descriptions of such studies, tests and trials, and the results thereof, contained in the Registration Statement, the Prospectus are accurate and complete in all material respects; the Company
        is not aware of any tests, studies or trials not described in the Registration Statement and the Prospectus, the results of which reasonably call into question in any material respect the results of the tests, studies and trials described in the
        Registration Statement and the Prospectus; and the Company has not received any written notice or correspondence from the FDA or any foreign, state or local Governmental Authority exercising comparable authority or any institutional review board or
        comparable authority requiring the termination, suspension, clinical hold or material modification of any tests, studies or trials. For the avoidance of doubt, the Company makes no representation or warranty that the results of any studies, tests
        or preclinical or clinical trials conducted by or on behalf of the Company or the Subsidiary will be sufficient to obtain governmental approval from the FDA or any foreign (including Israeli), state or local governmental body exercising comparable
        authority.

       

      
        - 12 -

        
          

      

      (x)          No Material Defaults.  Neither the Company nor any of the Subsidiaries has defaulted on any installment on indebtedness for borrowed money or on any rental on
        one or more long-term leases, which defaults, individually or in the aggregate, would reasonably be expected to have, a Material Adverse Effect.  The Company has not filed a report pursuant to Section 13(a) or 15(d) of the Exchange Act since the
        filing of its last Annual Report, indicating that it (i) has failed to pay any dividend or sinking fund installment on preferred stock or (ii) has defaulted on any installment on indebtedness for borrowed money or on any rental on one or more
        long-term leases, which defaults, individually or in the aggregate, would have a Material Adverse Effect.

       

      (y)          Certain Market Activities.  Neither the Company nor any of its subsidiaries has taken, directly or indirectly, any action designed to or that might cause or
        result in stabilization or manipulation of the price of the Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act (“Regulation M”)) with respect to the
        Shares, whether to facilitate the sale or resale of the Placement Shares, whether on the TASE or otherwise, and has taken no action which would directly or indirectly violate Regulation M and the Securities Law.

       

      (z)          Broker/Dealer Relationships.  Neither the Company nor any of the Subsidiaries (i) is required to register as a “broker” or “dealer” in accordance with the
        provisions of the Exchange Act or (ii) directly or indirectly through one or more intermediaries, controls or is a “person associated with a member” or “associated person of a member” (within the meaning set forth in the FINRA Manual).

       

      (aa)         No Reliance.  The Company has not relied upon the Agent or legal counsel for the Agent for any legal, tax, business or accounting advice in connection with
        the offering and sale of the Placement Shares.

       

      (bb)        Taxes.  The Company and each of its Subsidiaries have filed all federal, state, local and foreign tax returns which have been required to be filed and paid
        all taxes shown thereon through the date hereof, to the extent that such taxes have become due and are not being contested in good faith, except where the failure to so file or pay would not reasonably be expected to have individually or in the
        aggregate, a Material Adverse Effect.  Except as otherwise disclosed in or contemplated by the Registration Statement or the Prospectus, no tax deficiency has been determined adversely to the Company or any of its Subsidiaries which has had, or
        would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.  The Company has no knowledge of any federal, state or other governmental tax deficiency, penalty or assessment which has been or might be asserted
        or threatened against it which would have a Material Adverse Effect.

       

      
        - 13 -

        
          

      

      (cc)         Title to Real and Personal Property.  Except as set forth in the Registration Statement or the Prospectus, the Company and its Subsidiaries have good and
        marketable title in fee simple to all items of real property owned by them, good and valid title to all personal property described in the Registration Statement or the Prospectus as being owned by them that are material to the businesses of the
        Company or such Subsidiary, in each case free and clear of all liens, encumbrances and claims, except those matters that (i) do not materially interfere with the use made and proposed to be made of such property by the Company and any of its
        Subsidiaries or (ii) would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.  Any real or personal property described in the Registration Statement or the Prospectus as being leased by the Company or
        any of its Subsidiaries is held by them under valid, existing and enforceable leases, except those that (A) do not materially interfere with the use made or proposed to be made of such property by the Company or any of its Subsidiaries or (B) would
        not be reasonably expected, individually or in the aggregate, to have a Material Adverse Effect.  Each of the properties of the Company and its Subsidiaries complies with all applicable laws (including building and zoning laws and laws relating to
        access to such properties), except if and to the extent disclosed in the Registration Statement or the Prospectus or except for such failures to comply that would not, individually or in the aggregate, reasonably be expected to interfere in any
        material respect with the use made and proposed to be made of such property by the Company and its Subsidiaries or otherwise have a Material Adverse Effect.  None of the Company or its Subsidiaries has received from any Governmental Authorities any
        written notice of any condemnation of, or zoning change affecting, the properties of the Company and its Subsidiaries, and the Company knows of no such condemnation or zoning change which is threatened, except for such that would not reasonably be
        expected to interfere in any material respect with the use made and proposed to be made of such property by the Company and its Subsidiaries or otherwise have a Material Adverse Effect, individually or in the aggregate.

       

      (dd)        Environmental Laws.  Except as set forth in the Registration Statement or the Prospectus, the Company and its Subsidiaries (i) are in compliance with any and
        all applicable federal, state, local and foreign laws relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental

            Laws”); (ii) have received and are in compliance with all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses as described in the Registration Statement or
        the Prospectus; and (iii) have not received written notice of any actual or potential liability for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, except, in the
        case of any of clauses (i), (ii) or (iii) above, for any such failure to comply or failure to receive required permits, licenses, other approvals or liability as would not, individually or in the aggregate, reasonably be expected to have a Material
        Adverse Effect.

       

      (ee)        No Illegal Cannabis Activities. Neither the Company nor any of the Subsidiaries nor, to the Company’s knowledge, any director, officer or employee acting on behalf of
        the Company or any Subsidiary (collectively, “Covered Persons”) nor, to the Company’s knowledge, any entity in which the Company holds an equity interest, has cultivated, produced, processed, imported or
        distributed any cannabis or cannabinoid product or has otherwise engaged in any direct or indirect dealings or transactions, in each case, involving the purchase or sale of cannabis or cannabinoid product by the Company or any of its controlled
        Subsidiaries in or to any jurisdiction where such activity is illegal (including the United States of America, its territories and possessions, any state of the United States and the District of Columbia), except in each case for any such
        illegality that would not, individually or in the aggregate with other such illegalities, reasonably be expected to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries has any current intention to engage in any of the
        foregoing actions.

       

      
        - 14 -

        
          

      

      (ff)        Disclosure Controls.  The Company and each of its Subsidiaries maintain systems of internal accounting controls compliant in all material respects with all
        applicable laws (including the Securities Law) and sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to
        permit preparation of financial statements in conformity with IFRS as issued by the International Accounting Standards Board and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or
        specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.  As of the most recent date evaluated, the
        Company’s internal control over financial reporting is effective and the Company is not aware of any material weaknesses in its internal control over financial reporting (other than as set forth in the Registration Statement or Prospectus).  Since
        the date of the latest audited financial statements of the Company included in the Prospectus, there has been no change in the Company’s internal control over financial reporting that has materially affected, or is reasonably likely to materially
        affect, the Company’s internal control over financial reporting (other than as set forth in the Registration Statement or Prospectus).  The Company has established disclosure controls and procedures (as defined in Exchange Act Rules 13a‐15 and
        15d‐15) for the Company and designed such disclosure controls and procedures to ensure that material information relating to the Company and each of its Subsidiaries is made known to the certifying officers by others within those entities.  The
        Company’s certifying officers evaluated the effectiveness of the Company’s disclosure controls and procedures as of a date within 90 days prior to the filing date of the Form 20-F for the year ended December 31, 2019 (such date, the “Evaluation Date”).  The Company presented in its Form 20-F for the year ended December 31, 2019, the conclusions of the certifying officers about the effectiveness of the disclosure controls and procedures
        based on their evaluations as of the Evaluation Date and the disclosure controls and procedures are effective.  Since the Evaluation Date, there have been no significant changes in the Company’s internal controls (as such term is defined in Item
        307(b) of Regulation S‐K under the Securities Act) or, to the Company’s knowledge, in other factors that would reasonably be expected to significantly affect the Company’s internal controls.

       

      (gg)        Sarbanes-Oxley.  There is and has been no failure on the part of the Company or any of the Company’s directors or officers, in their capacities as such, to
        comply in all material respects with any applicable provisions of the Sarbanes-Oxley Act and the rules and regulations promulgated thereunder.  Each of the principal executive officer and the principal financial officer of the Company (or each
        former principal executive officer of the Company and each former principal financial officer of the Company as applicable) has made all certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act with respect to all reports,
        schedules, forms, statements and other documents required to be filed by it or furnished by it to the Commission.  For purposes of the preceding sentence, “principal executive officer” and “principal financial officer” shall have the meanings given
        to such terms in the Sarbanes-Oxley Act.

       

      (hh)       Brokers.  Neither the Company nor any of the Subsidiaries has incurred any liability for any finder’s fees, brokerage commissions or similar payments in
        connection with the transactions herein contemplated, except as may otherwise exist with respect to or pursuant to this Agreement.

       

      (ii)          Labor Disputes.  No labor disturbance by or dispute with employees of the Company or any of its Subsidiaries exists or, to the knowledge of the Company, is
        threatened which would reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect.

       

      
        - 15 -

        
          

      

      (jj)         Investment Company Act.  Neither the Company nor any of the Subsidiaries is, or will be, either after receipt of payment for the Placement Shares or after
        the application of the proceeds therefrom as described under “Use of Proceeds” in the Registration Statement or the Prospectus, required to register as an “investment company” as such terms are defined in the Investment Company Act of 1940, as
        amended (the “Investment Company Act”).

       

      (kk)       Operations.  The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance in all material respects with applicable
        financial record keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, the money laundering laws of all jurisdictions to which the Company or its Subsidiaries are subject, the rules and regulations
        thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any Governmental Authority (collectively, the “Money Laundering Laws”); and no action, suit
        or proceeding by or before any Governmental Authority involving the Company or any of its Subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened.

       

      (ll)          Off-Balance Sheet Arrangements.  There are no transactions, arrangements and other relationships between and/or among the Company, and/or any of its
        affiliates and any unconsolidated entity, including any structural finance, special purpose or limited purpose entity (each, an “Off-Balance Sheet Transaction”) that would reasonably be expected to
        affect materially the Company’s liquidity or the availability of or requirements for its capital resources, including those Off-Balance Sheet Transactions described in the Commission’s Statement about Management’s Discussion and Analysis of
        Financial Conditions and Results of Operations (Release Nos. 33‐8056; 34‐45321; FR‐61), required to be described in the Prospectus which have not been described as required.

       

      (mm)      Agent Purchases.  The Company acknowledges and agrees that Agent has informed the Company that the Agent may, to the extent permitted under the Securities Act
        and the Exchange Act, purchase and sell Shares for its own account while this Agreement is in effect, provided, that (i) no such purchase or sales shall take place while a Placement Notice is in effect (except to the extent the Agent may engage in
        sales of Placement Shares purchased or deemed purchased from the Company as a “riskless principal” or in a similar capacity) and (ii) the Company shall not be deemed to have authorized or consented to any such purchases or sales by the Agent.

       

      (nn)        Forward-Looking Statements.  Each financial or operational projection or other “forward-looking statement” (as defined by Section 27A of the Securities Act or
        Section 21E of the Exchange Act) contained in the Registration Statement or the Prospectus was so included by the Company in good faith and with reasonable basis after due consideration by the Company of the underlying assumptions, estimates and
        other applicable facts and circumstances. No such statement was made with the knowledge of an executive officer or director of the Company that is was false or misleading.

       

      (oo)        Margin Rules.  Neither the issuance, sale and delivery of the Placement Shares nor the application of the proceeds thereof by the Company as described in the
        Registration Statement and the Prospectus will violate Regulation T, U or X of the Board of Governors of the Federal Reserve System or any other regulation of such Board of Governors.

       

      
        - 16 -

        
          

      

      (pp)        Insurance.  The Company and each of its Subsidiaries carry, or are covered by, insurance in such amounts and covering such risks as the Company and each of
        its Subsidiaries reasonably believe are adequate for the conduct of their properties and as is customary in the businesses in which the Company and the Subsidiaries are engaged.

       

      (qq)        No Improper Practices.  (i) Neither the Company nor the Subsidiaries, nor any director, or officer, employee of the Company or any Subsidiary (in each case,
        in such capacity) nor, to the Company’s knowledge, any agent, affiliate or other person acting on behalf of the Company or any Subsidiary has, in the past five years, made any unlawful contributions to any candidate for any political office (or
        failed fully to disclose any contribution in violation of applicable law) or made any contribution or other payment to any official of, or candidate for, any federal, state, municipal, or foreign office or other person charged with similar public
        or quasi-public duty in violation of any applicable law or of the character required to be disclosed in the Prospectus; (ii) no relationship, direct or indirect, exists between or among the Company or any Subsidiary or any affiliate of any of them,
        on the one hand, and the directors, officers and shareholders of the Company or any Subsidiary, on the other hand, that is required by the Securities Act to be described in the Registration Statement and the Prospectus that is not so described;
        (iii) no relationship, direct or indirect, exists between or among the Company or any Subsidiary or any affiliate of them, on the one hand, and the directors, officers, or shareholders of the Company or any Subsidiary, on the other hand, that is
        required by the rules of FINRA or the Securities Law to be described in the Registration Statement and the Prospectus that is not so described; (iv) except as described in the Registration Statement and the Prospectus, there are no material
        outstanding loans or advances or material guarantees of indebtedness by the Company or any Subsidiary to or for the benefit of any of their respective officers or directors or any of the members of the families of any of them; (v) the Company has
        not offered, or caused any placement agent to offer, Shares to any person with the intent to influence unlawfully (A) a customer or supplier of the Company or any Subsidiary to alter the customer’s or supplier’s level or type of business with the
        Company or any Subsidiary or (B) a trade journalist or publication to write or publish favorable information about the Company or any Subsidiary or any of their respective products or services; and (vi) neither the Company nor any Subsidiary nor
        any director, officer or employee of the Company or any Subsidiary nor, to the Company’s knowledge, any agent, affiliate or other person acting on behalf of the Company or any Subsidiary has (A) violated or is in violation of any applicable
        provision of the U.S. Foreign Corrupt Practices Act of 1977, or any other applicable anti-bribery or anti-corruption law (collectively, “Anti-Corruption Laws”), (B) promised, offered, provided,
        attempted to provide or authorized the provision of anything of value, directly or indirectly, to any person for the purpose of obtaining or retaining business, influencing any act or decision of the recipient or securing any improper advantage in
        violation of Anti-Corruption Laws, or (C) made any payment of funds of the Company or any Subsidiary or received or retained any funds in violation of any Anti-Corruption Laws.

       

      (rr)          No Conflicts.  Neither the execution of this Agreement, nor the issuance, offering or sale of the Placement Shares as contemplated by the Registration
        Statement or the Prospectus, nor the consummation of any of the transactions contemplated herein and therein, nor the compliance by the Company with the terms and provisions hereof and thereof will conflict with, or will result in a breach of, any
        of the terms and provisions of, or has constituted or will constitute a default under, or has resulted in or will result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company pursuant to the
        terms of any contract or other agreement to which the Company may be bound or to which any of the property or assets of the Company is subject, except (i) such conflicts, breaches or defaults as may have been waived and (ii) such conflicts,
        breaches and defaults that would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect; nor will such action result (x) in any violation of the provisions of the organizational or governing documents of the
        Company, or (y) in any material violation of the provisions of any statute or any order, rule or regulation applicable to the Company or of any Governmental Authority having jurisdiction over the Company.

       

      
        - 17 -

        
          

      

      (ss)          Sanctions.

       

      (i)          The Company represents that, neither the Company nor any of its Subsidiaries (collectively, the “Entity”) or to the
        Company’s knowledge, any director, officer, employee, agent, affiliate or representative of the Entity, is a government, individual, or entity (in this paragraph (qq), “Person”) that is, or is owned or
        controlled by a Person that is:

       

      (A)  the subject of any sanctions administered or enforced by the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”), the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authorities, including designation on OFAC’s Specially Designated Nationals and Blocked Persons List or
        OFAC’s Foreign Sanctions Evaders List (as amended, collectively, “Sanctions”), nor(B)  located, organized or resident in a country or territory that is the subject of Sanctions that broadly prohibit
        dealings with that country or territory (including Cuba, Iran, North Korea, Sudan, Syria and the Crimea Region of the Ukraine) (the “Sanctioned Countries”).

       

      (ii)          The Entity represents and covenants that it will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available
        such proceeds to any subsidiary, joint venture partner or other Person:

       

      (A)  to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation,
        is the subject of Sanctions or is a Sanctioned Country; or(B)  in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or
        otherwise).

       

      (iii)          The Entity represents and covenants that, except as detailed in the Registration Statement and the Prospectus, for the past 5 years, it has not engaged in and is
        not now engaging in any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions or is or was a Sanctioned Country.

       

      
        - 18 -

        
          

      

      (tt)        Compliance with Laws.  Each of the Company and its Subsidiaries: (A) is and at all times has been in compliance with all laws (including, without limitation,
        the Securities Law and all Environmental Laws) statutes, rules, or regulations applicable to the ownership, testing, development, manufacture, packaging, processing, use, distribution, marketing, labeling, promotion, sale, offer for sale, storage,
        import, export or disposal of any product manufactured or distributed by the Company or its Subsidiaries (“Applicable Laws”), except as would not, individually or in the aggregate, reasonably be
        expected to result in a Material Adverse Effect; (B) has not received any FDA Form 483, written notice of adverse finding, warning letter, untitled letter or other correspondence or written notice from the FDA or any other Governmental Authority
        alleging or asserting noncompliance with any Applicable Laws or any licenses, certificates, approvals, clearances, authorizations, permits and supplements or amendments thereto required by any such Applicable Laws (“Authorizations”);

        (C) possesses all material Authorizations and such Authorizations are valid and in full force and effect and are not in material violation of any term of any such Authorizations; (D) has not received written notice of any claim, action, suit,
        proceeding, hearing, enforcement, investigation, arbitration or other action from any Governmental Authority or third party alleging that any product operation or activity is in violation of any Applicable Laws or Authorizations (except for any
        such written notice regarding an action (A) that would not reasonably be expected to have a Material Adverse Effect and (B) that the Company believes has been resolved to the satisfaction of such Governmental Authority as of the date hereof) and
        has no knowledge that any such Governmental Authority or third party is considering any such claim, litigation, arbitration, action, suit, investigation or proceeding; (E) has not received written notice that any Governmental Authority has taken,
        is taking or intends to take action to limit, suspend, modify or revoke any Authorizations and has no knowledge that any such Governmental Authority is considering such action; (F) has filed, obtained, maintained or submitted all material reports,
        documents, forms, written notices, applications, records, claims, submissions and supplements or amendments as required by any Applicable Laws or Authorizations and that all such reports, documents, forms, written notices, applications, records,
        claims, submissions and supplements or amendments were complete and correct on the date filed (or were corrected or supplemented by a subsequent submission); and (G) has not, either voluntarily or involuntarily, initiated, conducted, or issued or
        caused to be initiated, conducted or issued, any recall which had or expected to have a Material Adverse Effect, market withdrawal or replacement, safety alert, post-sale warning, “dear healthcare provider” letter, or other written notice or action
        relating to the alleged lack of safety or efficacy of any product or any alleged product defect or violation and, to the Company’s knowledge, no third party has initiated, conducted or intends to initiate any such written notice or action.

       

      (uu)        Statistical and Market-Related Data.  All statistical, demographic and market‐related data included in the Registration Statement or the Prospectus are based
        on or derived from sources that the Company believes to be reliable and accurate in all material respects or represent the Company’s good faith estimates that are made on the basis of data derived from such sources.

       

      (vv)        Stock Exchange Listing.  The Shares are registered pursuant to Section 12(b) or 12(g) of the Exchange Act and are listed on the Nasdaq, and to its knowledge,
        the Company has taken no action designed to, or likely to have the effect of, terminating the registration of the Shares under the Exchange Act or delisting the Shares from the Nasdaq, nor has the Company received any notification that the
        Commission or the Nasdaq is contemplating terminating such registration or listing.  To the Company’s knowledge, it is in compliance with all applicable listing requirements of Nasdaq.

       

      
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      (ww)      Israeli Companies Law and Securities Law. Without limitation to any other representation hereunder (i) the Company, and to the Company's knowledge, each of its
        directors, office holders and shareholders (which are considered as "interest parties" as such term is defined in the Securities law) to the extent related to the Company, are in compliance with the Companies Law and Securities Law; (ii) since the
        first time of registration of its shares on the TASE, at all times and in particular in relation to the filing of the Registration Statement and the Prospectus, the Company complied and will have complied in all material respects with all of its
        obligations, including any disclosure requirements, under the Securities Law; (iii) all of the directors of the Company have been duly appointed in compliance with the Companies Law and the Securities Law; and (iv) neither the Company nor anyone
        acting on its behalf has engaged in any form of solicitation, advertising or any other action constituting an offer under the Securities Law, in Israel in connection with the transactions contemplated hereby which would require the Company to
        publish a prospectus in the State of Israel under the laws of the State of Israel; except with respect to clauses (i)-(iii) as would not be reasonably expect to result in a Material Adverse Effect.

       

      (xx)       Related-Party Transactions.  There are no business relationships or related-party transactions involving the Company or any of its subsidiaries or any other
        person required to be described in the Registration Statement or the Prospectus that have not been described as required.

       

      (yy)        FINRA Matters.  All of the information provided to the Agent or to counsel for the Agent by the Company and to the Company’s knowledge, its counsel, its
        officers and directors and the holders of any securities (debt or equity) or options to acquire any securities of the Company in connection with the offering of the Placement Shares is true, complete, correct and compliant with FINRA’s rules and
        any letters, filings or other supplemental information provided to FINRA by the Company pursuant to FINRA Rules is true, complete and correct.

       

      (zz)        Cybersecurity. Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, the Company and its 
        subsidiaries’ information technology assets and equipment, computers, systems, networks, hardware, software, websites, applications, and databases (collectively, “IT Systems”) are reasonably believed
        by the Company to be adequate for, and operate and perform in all material respects as required in connection with the operation of the business of the Company as currently conducted, free and  to the Company’s knowledge, are clear of all material
        bugs, errors, defects, Trojan horses, time bombs, malware and other system malfunctions. The Company and its subsidiaries have implemented and maintained commercially reasonable measures to maintain and protect their material confidential
        information and the integrity, continuous operation, redundancy and security of all IT Systems and data, including all “Personal Data” (defined below) and all sensitive, confidential or regulated data (“Confidential

            Data”) used in connection with their businesses.  “Personal Data” means (i) a natural person’s name, street address, telephone number, e-mail address, photograph, social security number
        or tax identification number, driver’s license number, passport number, credit card number, bank information, or customer or account number; (ii) any information which would qualify as “personally identifying information” under the Federal Trade
        Commission Act, as amended; (iii) “personal data” as defined by the European Union General Data Protection Regulation (“GDPR”) (EU 2016/679); (iv) any information which would qualify as “protected
        health information” under the Health Insurance Portability and Accountability Act of 1996, as amended by the Health Information Technology for Economic and Clinical Health Act (collectively, “HIPAA”);
        (v) any “personal information” as defined by the California Consumer Privacy Act (“CCPA”); and (vi) any other piece of information that allows the identification of such natural person, or his or her
        family, or permits the collection or analysis of any data related to an identified person’s health or sexual orientation.  There have been no material breaches, violations, outages or unauthorized uses of or accesses to same, except for those that
        have been remedied without material cost or liability or the duty to notify any other person, nor any material incidents under internal review or investigations relating to the same. The Company and its Subsidiaries are presently in material
        compliance with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority, internal policies and contractual obligations relating to the privacy and security
        of IT Systems, Confidential Data, and Personal Data and to the protection of such IT Systems, Confidential Data, and Personal Data from unauthorized use, access, misappropriation or modification.

       

      
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      (aaa)          Compliance with Data Privacy Laws. The Company and its Subsidiaries are, and have been during the five last full financial years of the Company, in material
        compliance with all applicable state and federal data privacy and security laws and regulations, including without limitation HIPAA, CCPA, and the GDPR (collectively, the “Privacy Laws”). The Company
        further certifies that neither it nor any Subsidiary: (i) has received written notice of any actual or potential liability under or relating to, or actual or potential violation of, any of the Privacy Laws, and has no knowledge of any event or
        condition that would reasonably be expected to result in any such written notice; (ii) is currently conducting or paying for, in whole or in part, any investigation, remediation, or other corrective action pursuant to any Privacy Law; or (iii) is a
        party to any order, decree, or agreement that imposes any obligation or liability under any Privacy Law.

       

      Any certificate signed by any officer of the Company or any of its subsidiaries and delivered to the Agent or to counsel for the Agent in connection with the offering, or the
        purchase and sale, of the Placement Shares shall be deemed a representation and warranty by the Company to the Agent as to the matters covered thereby.

       

      7.          Covenants of the Company.  The Company covenants and agrees with Agent that:

       

      (a)         Registration Statement Amendments.  After the date of this Agreement and during any period in which a Prospectus relating to any Placement Shares is
        required to be delivered by Agent under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act or similar rule), (i) the Company will notify the Agent promptly of the
        time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any subsequent supplement to the Prospectus has been filed and of
        any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information, (ii) the Company will prepare and file with the Commission, promptly upon the Agent’s request, any amendments
        or supplements to the Registration Statement or Prospectus that, in the Agent’s reasonable opinion, may be necessary or advisable in connection with the distribution of the Placement Shares by the Agent (provided,
        however, that the failure of the Agent to make such request shall not relieve the Company of any obligation or liability hereunder, or affect the Agent’s right to rely on the representations and warranties
        made by the Company in this Agreement and provided, further, that the only remedy the Agent shall have with respect to the failure to make such filing shall be to
        cease making sales under this Agreement until such amendment or supplement is filed); (iii) the Company will not file any amendment or supplement to the Registration Statement or Prospectus relating to the Placement Shares or a security convertible
        into the Placement Shares unless a copy thereof has been submitted to Agent within a reasonable period of time before the filing and the Agent has not objected thereto (provided, however, that the failure of the Agent to make such objection shall not relieve the Company of any obligation or liability hereunder, or affect the Agent’s right to rely on the representations and warranties made by the Company in
        this Agreement and provided, further, that the only remedy the Agent shall have with respect to the failure by the Company to obtain such consent shall be to cease
        making sales under this Agreement) and the Company will furnish to the Agent at the time of filing thereof a copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for
        those documents available via EDGAR; and (iv) the Company will cause each amendment or supplement to the Prospectus to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act or, in the
        case of any document to be incorporated therein by reference, to be filed with the Commission as required pursuant to the Exchange Act, within the time period prescribed (the determination to file or not file any amendment or supplement with the
        Commission under this Section 7(a), based on the Company’s reasonable opinion or reasonable objections, shall be made exclusively by the Company).

       

      
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      (b)          Notice of Commission Stop Orders.  The Company will advise the Agent, promptly after it receives notice of the issuance or threatened issuance by the
        Commission of any stop order suspending the effectiveness of the Registration Statement, of the suspension of the qualification of the Placement Shares for offering or sale in any jurisdiction, or of the initiation or threatening of any proceeding
        for any such purpose; and it will promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to obtain its withdrawal if such a stop order should be issued.  The Company will advise the Agent promptly after it
        receives any request by the Commission for any amendments to the Registration Statement or any amendment or supplements to the Prospectus or any Issuer Free Writing Prospectus or for additional information related to the offering of the Placement
        Shares or for additional information related to the Registration Statement, the Prospectus or any Issuer Free Writing Prospectus.

       

      (c)          Delivery of Prospectus; Subsequent Changes.  During any period in which a Prospectus relating to the Placement Shares is required to be delivered by the Agent
        under the Securities Act with respect to the offer and sale of the Placement Shares, (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act or similar rule), the Company will comply with
        all requirements imposed upon it by the Securities Act, as from time to time in force, and to file on or before their respective due dates all reports and any definitive proxy or information statements required to be filed by the Company with the
        Commission pursuant to Sections 13(a), 13(c), 14, 15(d) or any other provision of or under the Exchange Act.  If the Company has omitted any information from the Registration Statement pursuant to Rule 430B under the Securities Act, it will use its
        best efforts to comply with the provisions of and make all requisite filings with the Commission pursuant to said Rule 430B and to notify the Agent promptly of all such filings.  If during such period any event occurs as a result of which the
        Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances then existing, not misleading, or if during
        such period it is necessary to amend or supplement the Registration Statement or Prospectus to comply with the Securities Act, the Company will promptly notify the Agent to suspend the offering of Placement Shares during such period and the Company
        will promptly amend or supplement the Registration Statement or Prospectus (at the expense of the Company) so as to correct such statement or omission or effect such compliance.

       

      
        - 22 -

        
          

      

      (d)          Listing of Placement Shares.  Prior to the date of the first Placement Notice, the Company will use its reasonable best efforts to cause the Placement Shares
        to be listed on the Exchange.

       

      (e)          Delivery of Registration Statement and Prospectus.  The Company will furnish to the Agent and its counsel (at the expense of the Company) copies of the
        Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or Prospectus that are filed with the Commission during any period in which a
        Prospectus relating to the Placement Shares is required to be delivered under the Securities Act (including all documents filed with the Commission during such period that are deemed to be incorporated by reference therein), in each case as soon as
        reasonably practicable and in such quantities as the Agent may from time to time reasonably request and, at the Agent’s request, will also furnish copies of the Prospectus to each exchange or market on which sales of the Placement Shares may be
        made; provided, however, that the Company shall not be required to furnish any document (other than the Prospectus) to the Agent to the extent such document is
        available on EDGAR.

       

      (f)          Earning Statement.  The Company will make generally available to its security holders as soon as practicable, but in any event not later than 15 months after
        the end of the Company’s current fiscal quarter, an earning statement covering a 12-month period that satisfies the provisions of Section 11(a) and Rule 158 of the Securities Act.

       

      (g)          Use of Proceeds.  The Company will use the Net Proceeds as described in the Prospectus in the section entitled “Use of Proceeds.”

       

      (h)          Notice of Other Sales.  Without the prior written consent of the Agent, the Company will not, directly or indirectly, offer to sell, sell, contract to sell,
        grant any option to sell or otherwise dispose of any Shares (other than the Placement Shares offered pursuant to this Agreement) or securities convertible into or exchangeable for Shares, warrants or any rights to purchase or acquire, Shares during
        the period beginning on the fifth (5th) Trading Day immediately prior to the date on which any Placement Notice is delivered to Agent hereunder and ending on the fifth
        (5th) Trading Day immediately following the final Settlement Date with respect to Placement Shares sold pursuant to such Placement Notice (or, if the Placement Notice
        has been terminated or suspended prior to the sale of all Placement Shares covered by a Placement Notice, the date of such suspension or termination); and will not directly or indirectly in any other “at the market” or continuous equity transaction
        offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Shares (other than the Placement Shares offered pursuant to this Agreement) or securities convertible into or exchangeable for Shares, warrants or any
        rights to purchase or acquire, Shares prior to the sixtieth (60th) day immediately following the termination of this Agreement; provided,
        however, that such restrictions will not be required in connection with the Company’s issuance or sale of (i) Shares, options to purchase Shares or Shares issuable upon the exercise of options, pursuant to
        any employee, consultant or director stock option or benefits plan, stock ownership plan or dividend reinvestment plan (but not Shares subject to a waiver to exceed plan limits in its dividend reinvestment plan) of the Company whether now in effect
        or hereafter implemented, (ii) Shares issuable upon conversion of securities or the exercise of warrants, options or other rights in effect or outstanding, and disclosed in filings by the Company available on EDGAR or otherwise in writing to the
        Agent, (iii) Shares or securities convertible into or exchangeable for Shares as consideration for mergers, acquisitions, other business combinations or strategic alliances occurring after the date of this Agreement which are not issued solely for
        capital raising purposes and (iv) Shares or securities convertible into or exchangeable for Shares as consideration for research, collaboration, technology license, development, marketing or other similar agreements or strategic partnerships.

       

      
        - 23 -

        
          

      

      (i)          Change of Circumstances.  The Company will, at any time during the pendency of a Placement Notice advise the Agent promptly after it shall have received
        notice of any information or fact that would alter or affect in any material respect any opinion, certificate, letter or other document required to be provided to the Agent pursuant to this Agreement.

       

      (j)          Due Diligence Cooperation.  The Company will cooperate with any reasonable due diligence review conducted by the Agent or its representatives in connection
        with the transactions contemplated hereby, including, without limitation, providing information and making available documents and senior corporate officers, during regular business hours and at the Company’s principal offices, as the Agent may
        reasonably request.

       

      (k)          Required Filings Relating to Placement of Placement Shares.  The Company agrees that on such dates as the Securities Act shall require, the Company will
        (i) file a prospectus supplement with the Commission under the applicable paragraph of Rule 424(b) under the Securities Act (each and every filing date under Rule 424(b), a “Filing Date”), which
        prospectus supplement will set forth, within the relevant period, the amount of Placement Shares sold through the Agent, the Net Proceeds to the Company and the compensation payable by the Company to the Agent with respect to such Placement Shares,
        and (ii) deliver such number of copies of each such prospectus supplement to each exchange or market on which such sales were effected as may be required by the rules or regulations of such exchange or market.

       

      (l)           Representation Dates; Certificate.  (1) Prior to the date of the first Placement Notice and (2) each time the Company:

       

      (i) files the Prospectus relating to the Placement Shares or amends or supplements (other than a prospectus supplement relating solely to an offering of securities other than the
        Placement Shares) the Registration Statement or the Prospectus relating to the Placement Shares by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of documents by reference into the Registration
        Statement or the Prospectus relating to the Placement Shares;

       

      (ii) files an annual report on Form 20-F under the Exchange Act (including any Form 20-F/A containing amended financial information or a material amendment to the previously
        filed Form 20-F);

       

      (iii) furnishes its quarterly results of operations on Form 6-K under the Exchange Act; or

       

      
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      (iv) furnishes a current report on Form 6-K containing amended financial information under the Exchange Act which is incorporated by reference to the Registration Statement (each
        date of filing of one or more of the documents referred to in clauses (i) through (iv) shall be a “Representation Date”);

       

      the Company shall furnish the Agent (but in the case of clause (iv) above only if the Agent reasonably determines that the information contained in such Form 6‐K is material) with a certificate
        dated the Representation Date, in the form and substance satisfactory to the Agent and its counsel, substantially similar to the form previously provided to the Agent and its counsel, modified, as necessary, to relate to the Registration Statement
        and the Prospectus as amended or supplemented.  The requirement to provide a certificate under this Section 7(l) shall be waived for any Representation Date occurring at a time a Suspension is in effect, which waiver shall continue until
        the earlier to occur of the date the Company delivers instructions for the sale of Placement Shares hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date.  Notwithstanding
        the foregoing, if the Company subsequently decides to sell Placement Shares following a Representation Date when a Suspension was in effect and did not provide the Agent with a certificate under this Section 7(l), then before the Company
        delivers the instructions for the sale of Placement Shares or the Agent sells any Placement Shares pursuant to such instructions, the Company shall provide the Agent with a certificate in conformity with this Section 7(l) dated as of the
        date that the instructions for the sale of Placement Shares are issued.

       

      (m)         Legal Opinion.  (1) Prior to the date of the first Placement Notice and (2) within five (5) Trading Days of each Representation Date with respect to which the
        Company is obligated to deliver a certificate pursuant to Section 7(l) for which no waiver is applicable and excluding the date of this Agreement, the Company shall cause to be furnished to the Agent a written opinion of (i) Sullivan &
        Worcester LLP, U.S. counsel for the Company, and (ii) Meitar Law Offices, Israeli counsel for the Company, or other counsel satisfactory to the Agent, in form and substance satisfactory to Agent and its counsel, substantially similar to the form
        previously provided to the Agent and its counsel, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented ; provided, however, the Company shall be required to furnish to Agent no more than one opinion hereunder per calendar quarter; provided, further, that in
        lieu of such opinions for subsequent periodic filings under the Exchange Act, counsel may furnish the Agent with a letter (a “Reliance Letter”) to the effect that the Agent may rely on a prior opinions
        delivered under this Section 7(m) to the same extent as if they were dated the date of such letter (except that statements in such prior opinions shall be deemed to relate to the Registration Statement and the Prospectus as amended or
        supplemented as of the date of the Reliance Letter).

       

      (n)          Comfort Letter.  (1) Prior to the date of the first Placement Notice and (2) within five (5) Trading Days of each Representation Date with respect to which
        the Company is obligated to deliver a certificate pursuant to Section 7(l) for which no waiver is applicable and excluding the date of this Agreement, the Company shall cause its independent registered public accounting firm to furnish the
        Agent letters (the “Comfort Letters”), dated the date the Comfort Letter is delivered, which shall meet the requirements set forth in this Section 7(n); provided,
        that if requested by the Agent, the Company shall cause a Comfort Letter to be furnished to the Agent within ten (10) Trading Days of the date of occurrence of any material transaction or event, including the restatement of the Company’s financial
        statements.  The Comfort Letter from the Company’s independent registered public accounting firm shall be in a form and substance satisfactory to the Agent, (i) confirming that they are an independent registered public accounting firm within the
        meaning of the Securities Act and the PCAOB, (ii) stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by accountants’ “comfort letters” to underwriters
        in connection with registered public offerings (the first such letter, the “Initial Comfort Letter”) and (iii) updating the Initial Comfort Letter with any information that would have been included in
        the Initial Comfort Letter had it been given on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter.

       

      
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      (o)          Certificate of Chief Financial Officer. Prior to the date of the first Placement Notice, the Chief Financial Officer of  the Company shall to furnish the
        Agent a  certificate (the “CFO Certificate”), dated the date the CFO Certificate is delivered, in a form and substance reasonably satisfactory to the Agent, confirming the accuracy of the specified
        financial information in the Prospectus.

       

      (p)          Market Activities.  The Company will not, directly or indirectly, (i) take any action designed to cause or result in, or that constitutes or might reasonably
        be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of Shares or (ii) sell, bid for, or purchase Shares in violation of Regulation M, or pay anyone any
        compensation for soliciting purchases of the Placement Shares other than the Agent.

       

      (q)          Investment Company Act.  The Company will conduct its affairs in such a manner so as to reasonably ensure that neither it nor any of its Subsidiaries will be
        or become, at any time prior to the termination of this Agreement, required to register as an “investment company,” as such term is defined in the Investment Company Act.

       

      (r)          No Offer to Sell.  Other than an Issuer Free Writing Prospectus approved in advance by the Company and the Agent in its capacity as agent hereunder, neither
        the Agent nor the Company (including its agents and representatives, other than the Agent in its capacity as such) will make, use, prepare, authorize, approve or refer to any written communication (as defined in Rule 405 under the Securities Act),
        required to be filed with the Commission, that constitutes an offer to sell or solicitation of an offer to buy Placement Shares hereunder.

       

      (s)          Blue Sky and Other Qualifications.  The Company will use its commercially reasonable efforts, in cooperation with
        the Agent, to qualify the Placement Shares for offering and sale, or to obtain an exemption for the Placement Shares to be offered and sold, under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as the
        Agent may designate and to maintain such qualifications and exemptions in effect for so long as required for the distribution of the Placement Shares (but in no event for less than one year from the date of this Agreement); provided, however, that the Company shall not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in
        securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing business in any jurisdiction in which it is not otherwise so subject.  In each jurisdiction in which the Placement Shares have been
        so qualified or exempt, the Company will file such statements and reports as may be required by the laws of such jurisdiction to continue such qualification or exemption, as the case may be, in effect for so long as required for the distribution of
        the Placement Shares (but in no event for less than one year from the date of this Agreement).

       

      
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      (t)           Sarbanes-Oxley Act.  The Company and the Subsidiaries will maintain and keep accurate books and records reflecting their assets and maintain internal
        accounting controls in a manner designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles
        and including those policies and procedures that (i) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company, (ii) provide reasonable assurance
        that transactions are recorded as necessary to permit the preparation of the Company’s consolidated financial statements in accordance with generally accepted accounting principles, (iii) that receipts and expenditures of the Company are being made
        only in accordance with management’s and the Company’s directors’ authorization, and (iv) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets that could have
        a material effect on its financial statements.  The Company and the Subsidiaries will maintain such controls and other procedures, including, without limitation, those required by Sections 302 and 906 of the Sarbanes-Oxley Act, and the applicable
        regulations thereunder that are designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods
        specified in the Commission’s rules and forms, including, without limitation, controls and procedures designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is
        accumulated and communicated to the Company’s management, including its principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure and
        to ensure that material information relating to the Company or the Subsidiaries is made known to them by others within those entities, particularly during the period in which such periodic reports are being prepared.

       

      (u)          Secretary’s Certificate; Further Documentation.  Prior to the date of the first Placement Notice, the Company shall deliver to the Agent a certificate of the
        Secretary of the Company and attested to by an executive officer of the Company, dated as of such date, certifying as to (i) the Amended and Restated Articles of Association of the Company (ii) the resolutions of the Board of Directors of the
        Company authorizing the execution, delivery and performance of this Agreement and the issuance of the Placement Shares and (iii) the incumbency of the officers duly authorized to execute this Agreement and the other documents contemplated by this
        Agreement.  Within five (5) Trading Days of each Representation Date, the Company shall have furnished to the Agent such further information, certificates and documents as the Agent may reasonably request.

       

      8.          Payment of Expenses.  The Company will pay all expenses incident to the performance of its obligations under this Agreement, including (i) the preparation and
        filing of the Registration Statement, including any fees required by the Commission, and the printing or electronic delivery of the Prospectus as originally filed and of each amendment and supplement thereto, in such number as the Agent shall deem
        necessary, (ii) the printing and delivery to the Agent of this Agreement and such other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the Placement Shares, (iii) the preparation, issuance and
        delivery of the certificates, if any, for the Placement Shares to the Agent, including any stock or other transfer taxes and any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance or delivery of the Placement
        Shares to the Agent, (iv) the fees and disbursements of the counsel, accountants and other advisors to the Company, (v) the fees and expenses of Agent including but not limited to the fees and expenses of the counsel to the Agent, payable upon the
        execution of this Agreement, in an amount not to exceed $50,000, (vi) the qualification or exemption of the Placement Shares under state securities laws in accordance with the provisions of Section 7(r) hereof, including filing fees, but
        excluding fees of the Agent’s counsel, (vii) the printing and delivery to the Agent of copies of any Permitted Issuer Free Writing Prospectus and the Prospectus and any amendments or supplements thereto in such number as the Agent shall deem
        necessary, (viii) the preparation, printing and delivery to the Agent of copies of the blue sky survey, (ix) the fees and expenses of the transfer agent and registrar for the Placement Shares, (x) the filing and other fees incident to any review by
        FINRA of the terms of the sale of the Placement Shares including the fees of the Agent’s counsel (subject to the cap, set forth in clause (v) above), and (xi) the fees and expenses incurred in connection with the listing of the Placement Shares on
        the Exchange.

        

      
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      9.          Conditions to Agent’s Obligations.  The obligations of the Agent hereunder with respect to a Placement will be subject to the continuing accuracy and
        completeness of the representations and warranties made by the Company herein, to the due performance by the Company of its obligations hereunder, to the completion by the Agent of a due diligence review satisfactory to it in its reasonable
        judgment, and to the continuing satisfaction (or waiver by the Agent in its sole discretion) of the following additional conditions:

       

      (a)          Registration Statement Effective.  The Registration Statement shall have become effective and shall be available for the sale of all Placement Shares
        contemplated to be issued by any Placement Notice.

       

      (b)         No Material Notices.  None of the following events shall have occurred and be continuing: (i) receipt by the Company of any request for additional information
        from the Commission or any other federal or state Governmental Authority during the period of effectiveness of the Registration Statement, the response to which would require any post-effective amendments or supplements to the Registration
        Statement or the Prospectus; (ii) the issuance by the Commission or any other federal or state Governmental Authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that
        purpose; (iii) receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Placement Shares for sale in any jurisdiction or the initiation or threatening of any
        proceeding for such purpose; or (iv) the occurrence of any event that makes any material statement made in the Registration Statement or the Prospectus or any material document incorporated or deemed to be incorporated therein by reference untrue
        in any material respect or that requires the making of any changes in the Registration Statement, the Prospectus or documents so that, in the case of the Registration Statement, it will not contain an untrue statement of a material fact or omit to
        state any material fact required to be stated therein or necessary to make the statements therein not misleading and, that in the case of the Prospectus, it will not contain an untrue statement of a material fact or omit to state any material fact
        required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.

       

      
        - 28 -

        
          

      

       

      

      (c)          No Misstatement or Material Omission.  Agent shall not have advised the Company that the Registration Statement or Prospectus, or any amendment or supplement
        thereto, contains an untrue statement of fact that in the Agent’s reasonable opinion is material, or omits to state a fact that in the Agent’s reasonable opinion is material and is required to be stated therein or is necessary to make the
        statements therein not misleading..

       

      (d)          Material Changes.  Except as contemplated in the Prospectus, or disclosed in the Company’s reports furnished to or filed with the Commission, there shall not
        have been any material adverse change in the authorized share capital of the Company or any Material Adverse Effect or any development that would cause a Material Adverse Effect, or a downgrading in or withdrawal of the rating assigned to any of
        the Company’s securities (other than asset backed securities) by any rating organization or a public announcement by any rating organization that it has under surveillance or review its rating of any of the Company’s securities (other than asset
        backed securities), the effect of which, in the case of any such action by a rating organization described above, in the reasonable judgment of the Agent (without relieving the Company of any obligation or liability it may otherwise have), is so
        material as to make it impracticable or inadvisable to proceed with the offering of the Placement Shares on the terms and in the manner contemplated in the Prospectus.

       

      (e)          Legal Opinions.  The Agent shall have received the opinions of Company Counsels required to be delivered pursuant to Section 7(m) on or before the
        date on which such delivery of such opinions is required pursuant to Section 7(m).

       

      (f)          Comfort Letter.  The Agent shall have received the Comfort Letter required to be delivered pursuant to Section 7(n) on or before the date on which
        such delivery of such Comfort Letter is required pursuant to Section 7(n).

       

      (g)          Representation Certificate.  The Agent shall have received the certificate required to be delivered pursuant to Section 7(l) on or before the date on
        which delivery of such certificate is required pursuant to Section 7(l).

       

      (h)          No Suspension.  Trading in the Shares shall not have been suspended on the Exchange and the Shares shall not have been delisted from the Exchange.

       

      (i)          Other Materials.  On each date on which the Company is required to deliver a certificate pursuant to Section 7(l), the Company shall have furnished to
        the Agent such appropriate further information, opinions, certificates, letters and other documents as the Agent may reasonably request.  All such opinions, certificates, letters and other documents will be in compliance with the provisions hereof.

       

      (j)          Securities Act Filings Made.  All filings with the Commission required by Rule 424 under the Securities Act to have been filed prior to the issuance of any
        Placement Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule 424.

       

      
        - 29 -

        
          

      

      (k)          Approval for Listing.  Either (i) the Placement Shares shall have been approved for listing on the Exchange, subject only to notice of issuance, or (ii) the
        Company shall have filed an application for listing of the Placement Shares on the Exchange at, or prior to, the issuance of any Placement Notice and the Exchange shall have reviewed such application and not provided any objections thereto.

       

      (l)          FINRA.  If applicable, FINRA shall have raised no objection to the terms of this offering and the amount of compensation allowable or payable to the Agent as
        described in the Prospectus.

       

      (m)          No Termination Event.  There shall not have occurred any event that would permit the Agent to terminate this Agreement pursuant to Section 12(a).

       

      10.          Indemnification and Contribution.

       

      (a)          Company Indemnification.  The Company agrees to indemnify and hold harmless the Agent, its affiliates and their respective partners, members, directors,
        officers, employees and agents and each person, if any, who controls the Agent or any affiliate within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act as follows:

       

      (i)          against any and all loss, liability, claim, damage and expense whatsoever, as incurred, joint or several, arising out of or based upon any untrue statement or
        alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements
        therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact included in any related Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto), or the omission or
        alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading;

       

      (ii)          against any and all loss, liability, claim, damage and expense whatsoever, as incurred, joint or several, to the extent of the aggregate amount paid in settlement
        of any litigation, or any investigation or proceeding by any Governmental Authority, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission; provided that (subject to Section 10(d) below) any such settlement is effected with the written consent of the Company, which consent shall not unreasonably be delayed or withheld; and

       

      (iii)          against any and all expense whatsoever, as incurred (including the fees and disbursements of counsel), reasonably incurred in investigating, preparing or
        defending against any litigation, or any investigation or proceeding by any Governmental Authority, commenced or threatened, or any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission
        (whether or not a party), to the extent that any such expense is not paid under (i) or (ii) above,

       

      provided, however, that this indemnity agreement shall not apply to any loss, liability, claim, damage or expense
        to the extent arising out of any untrue statement or omission or alleged untrue statement or omission made solely in reliance upon and in conformity with the Agent Information (as defined below).

       

      
        - 30 -

        
          

      

      (b)          Agent Indemnification.  Agent agrees to indemnify and hold harmless the Company and its directors and each officer of the Company who signed the Registration
        Statement, and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act against any and all loss, liability, claim, damage and expense described in the indemnity
        contained in Section 10(a), as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any amendments thereto), the Prospectus (or any amendment or
        supplement thereto) or any Issuer Free Writing Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity with information relating to the Agent and furnished to the Company in writing by the Agent expressly for use
        therein.  The Company hereby acknowledges that the only information that the Agent has furnished to the Company expressly for use in the Registration Statement, the Prospectus or any Issuer Free Writing Prospectus (or any amendment or supplement
        thereto) are the statements set forth in the  fifth and eighth paragraphs under the caption “Plan of Distribution” in the Prospectus (the “Agent Information”).

       

      (c)          Procedure.  Any party that proposes to assert the right to be indemnified under this Section 10 will, promptly after receipt of written notice of
        commencement of any action against such party in respect of which a claim is to be made against an indemnifying party or parties under this Section 10, notify each such indemnifying party of the commencement of such action, enclosing a copy
        of all papers served, but the omission so to notify such indemnifying party will not relieve the indemnifying party from (i) any liability that it might have to any indemnified party otherwise than under this Section 10 and (ii) any
        liability that it may have to any indemnified party under the foregoing provision of this Section 10 unless, and only to the extent that, such omission results in the forfeiture of substantive rights or defenses by the indemnifying party. 
        If any such action is brought against any indemnified party and it notifies the indemnifying party of its commencement, the indemnifying party will be entitled to participate in and, to the extent that it elects by delivering written notice to the
        indemnified party promptly after receiving written notice of the commencement of the action from the indemnified party, jointly with any other indemnifying party similarly notified, to assume the defense of the action, with counsel reasonably
        satisfactory to the indemnified party, and after written notice from the indemnifying party to the indemnified party of its election to assume the defense, the indemnifying party will not be liable to the indemnified party for any other legal
        expenses except as provided below and except for the reasonable costs of investigation subsequently incurred by the indemnified party in connection with the defense.  The indemnified party will have the right to employ its own counsel in any such
        action, but the fees, expenses and other charges of such counsel will be at the expense of such indemnified party unless (1) the employment of counsel by the indemnified party has been authorized in writing by the indemnifying party, (2) the
        indemnified party has reasonably concluded (based on advice of counsel) that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, (3) a
        conflict or potential conflict exists (based on advice of counsel to the indemnified party) between the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action
        on behalf of the indemnified party) or (4) the indemnifying party has not in fact employed counsel to assume the defense of such action or counsel reasonably satisfactory to the indemnified party, in each case, within a reasonable time after
        receiving written notice of the commencement of the action; in each of which cases the reasonable fees, disbursements and other charges of counsel will be at the expense of the indemnifying party or parties.  It is understood that the indemnifying
        party or parties shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements and other charges of more than one separate firm (plus local counsel) admitted to
        practice in such jurisdiction at any one time for all such indemnified party or parties.  All such fees, disbursements and other charges will be reimbursed by the indemnifying party promptly as they are incurred.  An indemnifying party will not, in
        any event, be liable for any settlement of any action or claim effected without its written consent.  No indemnifying party shall, without the prior written consent of each indemnified party, settle or compromise or consent to the entry of any
        judgment in any pending or threatened claim, action or proceeding relating to the matters contemplated by this Section 10 (whether or not any indemnified party is a party thereto), unless such settlement, compromise or consent (1) includes
        an express and unconditional release of each indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability arising out of such litigation, investigation, proceeding or claim and (2) does not include
        a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party.

       

      
        - 31 -

        
          

      

      (d)          Settlement Without Consent if Failure to Reimburse.  If an indemnified party shall have requested an indemnifying
        party to reimburse the indemnified party for reasonable fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by Section 10(a)(ii) effected without its written
        consent if (1) such settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (2) such indemnifying party shall have received written notice of the terms of such settlement at least 30 days
        prior to such settlement being entered into and (3) such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement.

       

      (e)          Contribution.  In order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing paragraphs
        of this Section 10 is applicable in accordance with its terms but for any reason is held to be unavailable or insufficient from the Company or the Agent, the Company and the Agent will contribute to the total losses, claims, liabilities,
        expenses and damages (including any investigative, legal and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any claim asserted) to which the Company and the Agent may
        be subject in such proportion as shall be appropriate to reflect the relative benefits received by the Company on the one hand and the Agent on the other hand.  The relative benefits received by the Company on the one hand and the Agent on the
        other hand shall be deemed to be in the same proportion as the total net proceeds from the sale of the Placement Shares (before deducting expenses) received by the Company bear to the total compensation received by the Agent from the sale of
        Placement Shares on behalf of the Company.  If, but only if, the allocation provided by the foregoing sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only
        the relative benefits referred to in the foregoing sentence but also the relative fault of the Company, on the one hand, and the Agent, on the other hand, with respect to the statements or omission that resulted in such loss, claim, liability,
        expense or damage, or action in respect thereof, as well as any other relevant equitable considerations with respect to such offering.  Such relative fault shall be determined by reference to, among other things, whether the untrue or alleged
        untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or the Agent, the intent of the parties and their relative knowledge, access to information and opportunity
        to correct or prevent such statement or omission.  The Company and the Agent agree that it would not be just and equitable if contributions pursuant to this Section 10(e) were to be determined by pro rata allocation or by any other method
        of allocation that does not take into account the equitable considerations referred to herein.  The amount paid or payable by an indemnified party as a result of the loss, claim, liability, expense, or damage, or action in respect thereof, referred
        to above in this Section 10(e) shall be deemed to include, for the purpose of this Section 10(e), any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such
        action or claim to the extent consistent with Section 10(c) hereof.  Notwithstanding the foregoing provisions of this Section 10(e), the Agent shall not be required to contribute any amount in excess of the commissions received by
        it under this Agreement and no person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person who was not guilty of such fraudulent
        misrepresentation.  For purposes of this Section 10(e), any person who controls a party to this Agreement within the meaning of the Securities Act, any affiliates of the Agent and any officers, directors, partners, employees or agents of
        the Agent or any of its affiliates, will have the same rights to contribution as that party, and each director of the Company and each officer of the Company who signed the Registration Statement will have the same rights to contribution as the
        Company, subject in each case to the provisions hereof.  Any party entitled to contribution, promptly after receipt of written notice of commencement of any action against such party in respect of which a claim for contribution may be made under
        this Section 10(e), will notify any such party or parties from whom contribution may be sought, but the omission to so notify will not relieve that party or parties from whom contribution may be sought from any other obligation it or they
        may have under this Section 10(e) except to the extent that the failure to so notify such other party materially prejudiced the substantive rights or defenses of the party from whom contribution is sought.  Except for a settlement entered
        into pursuant to the last sentence of Section 10(c) hereof, no party will be liable for contribution with respect to any action or claim settled without its written consent if such consent is required pursuant to Section 10(c)
        hereof.

       

      
        - 32 -

        
          

      

      11.          Representations and Agreements to Survive Delivery.  The indemnity and contribution agreements contained in Section 10 of this Agreement and all
        representations and warranties of the Company herein or in certificates delivered pursuant hereto shall survive, as of their respective dates, regardless of (i) any investigation made by or on behalf of the Agent, any controlling persons, or the
        Company (or any of their respective officers, directors, employees or controlling persons), (ii) delivery and acceptance of the Placement Shares and payment therefor or (iii) any termination of this Agreement.

       

      12.          Termination.

       

      (a)          The Agent may terminate this Agreement, by written notice to the Company, as hereinafter specified at any time (1) if there has been, since the time of execution of
        this Agreement or since the date as of which information is given in the Prospectus, any change, or any development or event involving a prospective change, in the condition, financial or otherwise, or in the business, properties, earnings, results
        of operations or prospects of the Company and its Subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, which individually or in the aggregate, in the sole reasonable judgment of the Agent has a
        Material Adverse Effect and makes it impractical or inadvisable to market the Placement Shares or to enforce contracts for the sale of the Placement Shares, (2) if there has occurred any material adverse change in the financial markets in the
        United States or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national or international political, financial or
        economic conditions, in each case the effect of which is such as to make it, in the judgment of the Agent, impracticable or inadvisable to market the Placement Shares or to enforce contracts for the sale of the Placement Shares, (3) if trading in
        the Shares has been suspended or limited by the Commission or the Exchange, or if trading generally on the Exchange has been suspended or limited, or minimum prices for trading have been fixed on the Exchange, (4) if any suspension of trading of
        any securities of the Company on any exchange or in the over-the-counter market shall have occurred and be continuing, (5) if a major disruption of securities settlements or clearance services in the United States shall have occurred and be
        continuing, or (6) if a banking moratorium has been declared by either U.S. Federal or New York authorities.  Any such termination shall be without liability of any party to any other party except that the provisions of Section 8 (Payment
        of Expenses), Section 10 (Indemnification and Contribution), Section 11 (Representations and Agreements to Survive Delivery), Section 17 (Governing Law and Time; Waiver of Jury Trial) and Section 18 (Consent to
        Jurisdiction) hereof shall remain in full force and effect notwithstanding such termination.  If the Agent elects to terminate this Agreement as provided in this Section 12(a), the Agent shall provide the required written notice as
        specified in Section 13 (Notices).

       

      
        - 33 -

        
          

      

      (b)          The Company shall have the right, by giving ten (10) days written notice as hereinafter specified to terminate this Agreement in its sole discretion at any time
        after the date of this Agreement.  Any such termination shall be without liability of any party to any other party except that the provisions of Section 8, Section 10, Section 11, Section 17 and Section 18
        hereof shall remain in full force and effect notwithstanding such termination.

       

      (c)          The Agent shall have the right, by giving ten (10) days written notice as hereinafter specified to terminate this Agreement in its sole discretion at any time after
        the date of this Agreement.  Any such termination shall be without liability of any party to any other party except that the provisions of Section 8, Section 10, Section 11, Section 17 and Section 18 hereof
        shall remain in full force and effect notwithstanding such termination.

       

      (d)          This Agreement shall remain in full force and effect until the sale of the Placement Shares covered by the Prospectus Supplement, or unless terminated pursuant to Sections

          12(a), (b), or (c) above or otherwise by mutual agreement of the parties; provided, however, that any such termination by mutual agreement
        shall in all cases be deemed to provide that Section 8, Section 10, Section 11, Section 17 and Section 18 shall remain in full force and effect.

       

      (e)          Any termination of this Agreement shall be effective on the date specified in such written notice of termination; provided,
        however, that such termination shall not be effective until the close of business on the date of receipt of such written notice by the Agent or the Company, as the case may be.  If such termination shall
        occur prior to the Settlement Date for any sale of Placement Shares, such Placement Shares shall settle in accordance with the provisions of this Agreement.

       

      
        - 34 -

        
          

      

      13.          Notices.  All notices or other communications required or permitted to be given by any party to any other party pursuant to the terms of this Agreement shall
        be in writing, unless otherwise specified, and if sent to the Agent, shall be delivered to:

       

      
        	 	
                Cantor Fitzgerald & Co.

              
	 	
                499 Park Avenue

              
	 	
                New York, NY 10022

              
	 	
                Attention:

              	
                Capital Markets

              
	 	
                Facsimile:

              	
                (212) 307-3730

              
	 	 	 
	
                and:

              	 	 
	 	 	 
	 	
                Cantor Fitzgerald & Co.

              
	 	
                499 Park Avenue

              
	 	
                New York, NY 10022

              
	 	
                Attention:

              	
                General Counsel

              
	 	
                Facsimile:

              	
                (212) 829-4708

              
	 	 	 
	
                with a copy (which will not constitute notice) to:

              
	 	 	 
	 	
                Goodwin Procter LLP

              
	 	
                620 8th Avenue

              
	 	
                New York, NY 10018

              
	 	
                Attention: Seo Salimi

              
	 	 	 
	
                If to the Company:

              	
                Evogene Ltd.

              	 
	 	
                13 Gad Feinstein Street, Park Rehovot, Rehovot

              
	 	
                P.O.B 4173, Ness Ziona, 7414002, Israel

              
	 	
                Attention: Ofer Haviv

              
	 	
                Facsimile: (+972)-8-946-6724

              
	 	 	 
	
                with a copy (which will not constitute notice) to:

              
	 	 	 
	 	
                Meitar Law Offices

              
	 	
                16 Abba Hillel Silver Rd.

              
	 	
                Ramat Gan 5250608 Israel

              
	 	
                Attention: Mike Rimon, Adv.; Dr. Shachar Hadar, Adv.

              
	 	
                Email: mrimon@meitar.com; shacharh@meitar.com

              
	 	 	 
	
                

                

              	
                and:

              	 
	 	 	 
	 	
                Sullivan & Worcester LLP

              
	 	
                1633 Broadway

              
	 	
                New York, NY 10019

              
	 	
                Attention: Oded Har-Even

              
	 	
                Email: ohareven@sullivanlaw.com

              

      

       

      

      
        - 35 -

        
          

      

      Each party to this Agreement may change such address for notices by sending to the parties to this Agreement written notice of a new address for such purpose.  Each such written
        notice or other communication shall be deemed given (i) when delivered personally or by verifiable facsimile transmission (with an original to follow) on or before 4:30 p.m., New York City time, on a Business Day or, if such day is not a Business
        Day, on the next succeeding Business Day, (ii) on the next Business Day after timely delivery to a nationally-recognized overnight courier and (iii) on the Business Day actually received if deposited in the U.S. mail (certified or registered mail,
        return receipt requested, postage prepaid).  For purposes of this Agreement, “Business Day” shall mean any day on which the Exchange and commercial banks in the City of New York are open for business.

       

      An electronic communication (“Electronic Notice”) shall be deemed written notice for purposes of this Section 13 if sent to the
        electronic mail address specified by the receiving party under separate cover.  Electronic Notice shall be deemed received at the time the party sending Electronic Notice receives verification of receipt by the receiving party (other than an
        automatic reply).  Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form (“Nonelectronic Notice”)

        which shall be sent to the requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice.

       

      14.          Successors and Assigns.  This Agreement shall inure to the benefit of and be binding upon the Company and the Agent and their respective successors and the
        parties referred to in Section 10 hereof.  References to any of the parties contained in this Agreement shall be deemed to include the successors and permitted assigns of such party.  Nothing in this Agreement, express or implied, is intended to
        confer upon any party other than the parties hereto or their respective successors and permitted assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.  Neither
        party may assign its rights or obligations under this Agreement without the prior written consent of the other party; provided, however, that the Agent may assign
        its rights and obligations hereunder to an affiliate thereof without obtaining the Company’s consent.

       

      15.          Adjustments for Share Splits.  The parties acknowledge and agree that all share-related numbers contained in this Agreement shall be adjusted to take
        into account any stock split, stock dividend or similar event effected with respect to the Placement Shares.

       

      16.          Entire Agreement; Amendment; Severability; Waiver.  This Agreement (including all schedules and exhibits attached hereto and Placement Notices issued pursuant
        hereto) constitutes the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings, both written and oral, among the parties hereto with regard to the subject matter hereof.  Neither this Agreement nor any term
        hereof may be amended except pursuant to a written instrument executed by the Company and the Agent.  In the event that any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or
        unenforceable as written by a court of competent jurisdiction, then such provision shall be given full force and effect to the fullest possible extent that it is valid, legal and enforceable, and the remainder of the terms and provisions herein
        shall be construed as if such invalid, illegal or unenforceable term or provision was not contained herein, but only to the extent that giving effect to such provision and the remainder of the terms and provisions hereof shall be in accordance with
        the intent of the parties as reflected in this Agreement. No implied waiver by a party shall arise in the absence of a waiver in writing signed by such party. No failure or delay in exercising any right, power, or privilege hereunder shall operate
        as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any right, power, or privilege hereunder.

       

      
        - 36 -

        
          

      

      17.          GOVERNING LAW AND TIME; WAIVER OF JURY TRIAL.  THIS AGREEMENT SHALL BE GOVERNED BY
          AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS. SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME.  EACH PARTY HEREBY IRREVOCABLY
          WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

       

      18.          CONSENT TO JURISDICTION. EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE
          JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE CITY OF NEW YORK, BOROUGH OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH ANY TRANSACTION CONTEMPLATED HEREBY, AND HEREBY IRREVOCABLY WAIVES, AND AGREES
          NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT, THAT SUCH SUIT, ACTION OR PROCEEDING IS BROUGHT IN AN INCONVENIENT FORUM OR THAT THE VENUE OF SUCH SUIT, ACTION OR
          PROCEEDING IS IMPROPER.  EACH PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF (CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT
          REQUESTED) TO SUCH PARTY AT THE ADDRESS IN EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF.  NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT
          IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW.

       

      19.          Counterparts.  This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
        constitute one and the same instrument.  Delivery of an executed Agreement by one party to the other may be made by facsimile or electronic transmission.

       

      20.          Construction.  The section and exhibit headings herein are for convenience only and shall not affect the construction hereof. References herein to any law,
        statute, ordinance, code, regulation, rule or other requirement of any Governmental Authority shall be deemed to refer to such law, statute, ordinance, code, regulation, rule or other requirement of any Governmental Authority as amended, reenacted,
        supplemented or superseded in whole or in part and in effect from time to time and also to all rules and regulations promulgated thereunder.

       

      21.          Permitted Free Writing Prospectuses.  The Company represents, warrants and agrees that, unless it obtains the prior written consent of the Agent, and the
        Agent represents, warrants and agrees that, unless it obtains the prior written consent of the Company, it has not made and will not make any offer relating to the Placement Shares that would constitute an Issuer Free Writing Prospectus, or that
        would otherwise constitute a “free writing prospectus,” as defined in Rule 405, required to be filed with the Commission.  Any such free writing prospectus consented to by the Agent or by the Company, as the case may be, is hereinafter referred to
        as a “Permitted Free Writing Prospectus.”  The Company represents and warrants that it has treated and agrees that it will treat each Permitted Free Writing Prospectus as an “issuer free writing prospectus,” as defined in Rule 433, and has complied
        and will comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission where required, legending and record keeping.  For the purposes of clarity, the parties hereto agree
        that all free writing prospectuses, if any, listed in Exhibit 21 hereto are Permitted Free Writing Prospectuses.

       

      
        - 37 -

        
          

      

      22.          Absence of Fiduciary Relationship.  The Company acknowledges and agrees that:

       

      (a)          the Agent is acting solely as agent in connection with the public offering of the Placement Shares and in connection with each transaction contemplated by this
        Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity holders), creditors or employees or any other party, on the one
        hand, and the Agent, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether or not the Agent has advised or is advising the Company on other matters, and the
        Agent has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations expressly set forth in this Agreement;

       

      (b)          it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the transactions contemplated by this Agreement;

       

      (c)          neither the Agent nor its affiliates have provided any legal, accounting, regulatory or tax advice with respect to the transactions contemplated by this Agreement
        and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate;

       

      (d)          it is aware that the Agent and its affiliates are engaged in a broad range of transactions which may involve interests that differ from those of the Company and the
        Agent and its affiliates have no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and

       

      (e)          it waives, to the fullest extent permitted by law, any claims it may have against the Agent or its affiliates for breach of fiduciary duty or alleged breach of
        fiduciary duty in connection with the sale of Placement Shares under this Agreement and agrees that the Agent and its affiliates shall not have any liability (whether direct or indirect, in contract, tort or otherwise) to it in respect of such a
        fiduciary duty claim or to any person asserting a fiduciary duty claim on its behalf or in right of it or the Company, employees or creditors of Company.

       

      
        - 38 -

        
          

      

      23.          Definitions.  As used in this Agreement, the following terms have the respective meanings set forth below:

       

      “Applicable Time” means (i) each Representation Date, (ii) the time of each sale of any Placement Shares pursuant to this Agreement
        and (iii) each Settlement Date.

       

      “Governmental Authority” means (i) any federal, provincial, state, local, municipal,
        national or international government or governmental authority, regulatory or administrative agency, governmental commission, department, board, bureau, agency or instrumentality, court, tribunal, arbitrator or arbitral body (public or private);
        (ii) any self-regulatory organization; or (iii) any political subdivision of any of the foregoing.

       

      “Issuer Free Writing Prospectus” means any “issuer free writing prospectus,” as defined in Rule 433, relating to the Placement
        Shares that (1) is required to be filed with the Commission by the Company, (2) is a “road show” that is a “written communication” within the meaning of Rule 433(d)(8)(i) whether or not required to be filed with the Commission, or (3) is exempt
        from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Placement Shares or of the offering that does not reflect the final terms, in each case in the form filed or required to be filed with the Commission or, if not
        required to be filed, in the form retained in the Company’s records pursuant to Rule 433(g) under the Securities Act Regulations.

       

       “Rule 164,” “Rule 172,” “Rule 405,” “Rule 415,” “Rule 424,” “Rule 424(b),” “Rule 430B,” and “Rule 433” refer to such rules under the Securities Act Regulations.

       

      All references in this Agreement to financial statements and schedules and other information that is “contained,” “included” or “stated” in the Registration Statement or the
        Prospectus (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and other information that is incorporated by reference in the Registration Statement or the Prospectus, as the
        case may be.

       

      All references in this Agreement to the Registration Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed
        with the Commission pursuant to EDGAR; all references in this Agreement to any Issuer Free Writing Prospectus (other than any Issuer Free Writing Prospectuses that, pursuant to Rule 433, are not required to be filed with the Commission) shall be
        deemed to include the copy thereof filed with the Commission pursuant to EDGAR; and all references in this Agreement to “supplements” to the Prospectus shall include, without limitation, any supplements, “wrappers” or similar materials prepared in
        connection with any offering, sale or private placement of any Placement Shares by the Agent outside of the United States.

       

      [Signature Page Follows]

       

      
        - 39 -

        
          

      

      

      

      

      If the foregoing correctly sets forth the understanding between the Company and the Agent, please so indicate in the space provided below for that purpose, whereupon this letter
        shall constitute a binding agreement between the Company and the Agent.

       

      	 	
              Very truly yours,

            	 
	 	 	 
	 	
              Evogene Ltd.

            	 
	 	 	 
	 	
              By:

            	/s/ Ofer Haviv	 
	 	 	
              Name:      Ofer Haviv

            	 
	 	 	
              Title:        Chief Executive Officer

            	 

      

      

      	 	
              ACCEPTED as of the date first-above written:

            	 
	 	 	 
	 	
              CANTOR FITZGERALD & CO.

            	 
	 	 	 
	 	
              By:

            	/s/ Sage Kelly

            	 
	 	 	
              Name:       Sage Kelly

            	 
	 	 	
              Title:         Global Head of Investment Banking

              

            	 

      

      

      
        
          

      

       

      SCHEDULE 1

       

      __________________________

       

      Form of Placement Notice

       

      

      __________________________

       

      

      
        	
                From:

              	
                Evogene Ltd.

                 

                

              
	
                To:

              	
                Cantor Fitzgerald & Co.

              
	
                

                

              	
                
                  Attention: Sameer Vasudev

                

                 

                

              
	
                Subject:

              	
                Placement Notice

                 

                

              
	
                Date:

              	
                [•], 201[•]

              

      

       

      Ladies and Gentlemen:

       

      Pursuant to the terms and subject to the conditions contained in the Sales Agreement between Evogene Ltd., a company organized under the laws of the State of Israel (the “Company”), and Cantor Fitzgerald & Co. (“Agent”), dated February 19, 2021, the Company hereby requests that the Agent sell up to [•] of the Company’s
        ordinary shares, NIS 0.02 par value, at a minimum market price of $[•] per share, during the time period beginning [month, day, time] and ending [month, day, time].

       

      
        
          

      

      

      

      SCHEDULE 2

       

      __________________________

       

      Compensation

       

      __________________________

       

      The Company shall pay to the Agent in cash, upon each sale of Placement Shares pursuant to this Agreement, an amount equal to 3.0% of the aggregate gross proceeds from each sale
        of Placement Shares.

       

      
        
          

      

      

      

      SCHEDULE 3

       

      __________________________

       

      Notice Parties

       

      __________________________

       

      The Company

       

      i. Chief Executive Officer, Ofer Haviv (ofer.haviv@evogene.com)

       

      ii. Chief Financial Officer, Dorit Kreiner (dorit.kreiner@evogene.com)

       

      with copies to:

       

      i. Director of Finance, Ran Bahir (ran.bahir@evogene.com)

       

      ii. VP Legal, Sassi Masliah (sassi.masliah@evogene.com)

       

      The Agent

       

      Sameer Vasudev (svasudev@cantor.com)

       

      With copies to:

      

      

      CFControlledEquityOffering@cantor.com

      
        

        

        
          
            

        

        

        

      

      Form of Representation Date Certificate Pursuant to Section 7(l)

       

      The undersigned, the duly qualified and elected [•], of Evogene Ltd., a company organized under the laws of the State of Israel (the “Company”), does hereby certify in such capacity and on
        behalf of the Company, pursuant to Section 7(l) of the Sales Agreement, dated January 14, 2021 (the “Sales Agreement”), between the Company and Cantor Fitzgerald & Co., that to the best of the knowledge of the undersigned:

       

      (i) The representations and warranties of the Company in Section 6 of the Sales Agreement  are true and correct in all material respects on and as of the date hereof with the same force and
        effect as if expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct in all material respects as of such date; provided, however, that such representations and warranties also shall be qualified by the disclosure included or incorporated by reference in the Registration Statement and Prospectus;
        and

       

      (ii) The Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied pursuant to the Sales Agreement at or prior to the date hereof.

      

      

      Capitalized terms used herein without definition shall have the meanings given to such terms in the Sales Agreement.

      

      

      	 	
              EVOGENE LTD.

               

            	 
	 	
              By:          

            	
               

            	
               

            
	 	 	 	 
	 	
              Name:          

            	 	 
	 	 	 	 
	 	
              Title:          

            	 	 

      

      

      Date: [•]

        

        

        

        

        

      

      
        
          

      

       

      Exhibit 21

       

      Permitted Free Writing Prospectus

       

      None.Exhibit 10.1

 

DIRECTOR AGREEMENT

 

This
DIRECTOR AGREEMENT is made as of this 17th day of February 2021 (the "Agreement"), by and between Urban Tea, Inc., under
the laws of the British Virgin Islands (the "Company") and Yunfei Song (the “Director”).

 

WHEREAS,
the Company wishes to appoint the Director as a non-executive member of the Board of Directors of the Company and enter into an
agreement with the Director with respect to such appointment; and

 

WHEREAS,
the Director wishes to accept such appointment and to serve the Company on the terms set forth herein, and in accordance with,
the provisions of this Agreement.

 

NOW, THEREFORE, in consideration of the mutual covenants
contained herein, the parties hereto agree as follows:

 

1. Position.
Subject to the terms and provisions of this Agreement, the Company shall cause the Director to be appointed as non-executive member
of the Board of Directors (the “Board”) to fill an existing but now vacant directorship and the Director hereby agrees
to serve the Company in that position upon the terms and conditions hereinafter set forth, provided, however, that the Director's
continued service on the Board after the initial term on the Board shall be subject to any necessary approval by the Company's
stockholders.

 

2. Duties.
During the Directorship Term (as defined in Section 5 hereof), the Director shall serve as a member of the Board, and the Director
shall make reasonable business efforts to attend all Board meetings, serve on appropriate subcommittees as reasonably requested
by the Board, make herself available to the Company at mutually convenient times and places, attend external meetings and presentations,
as appropriate and convenient, and perform such duties, services and responsibilities and have the authority commensurate to such
position.

 

The Director
will use her best efforts to promote the interests of the Company. The Company recognizes that the Director (i) is a full-time
executive employee of another entity and that her responsibilities to such entity must have priority and (ii) sits on the Board
of Directors of other entities. Notwithstanding same, the Director will use reasonable business efforts to coordinate her respective
commitments so as to fulfill her obligations to the Company and, in any event, will fulfill her legal obligations as a director.
Other than as set forth above, the Director will not, without the prior written approval of the Board, engage in any other business
activity which could materially interfere with the performance of her duties, services and responsibilities hereunder or which
is in violation of the reasonable policies established from time to time by the Company, provided that the foregoing shall in no
way limit her activities on behalf of (i) her current employer and its affiliates or (ii) the Board of Directors of those entities
on which she sits.

 

3. Board
Committees. The Director hereby agrees to sit in the relevant committees of the Board and to perform all of the duties, services
and responsibilities necessary thereunder.

 

4. Monetary
Remuneration. During the Directorship Term the Director shall receive the following compensation and benefits: An annual salary
of U.S.$15,000.

 

5. Directorship
Term. The "Directorship Term", as used in this Agreement, shall mean the period commencing on the date hereof and terminating
on the earliest of the following to occur:

 

(a) one
(1) year from the date hereof, subject to a one (1) year renewal term upon re-election by a majority of the shareholders of the
Company;

 

 (b) the death of the Director ("Death");

 

(c) the
termination of the Director from the position of member of the Board by the mutual agreement of the Company and the Director;

 

 (d) the removal of the Director from the Board by the shareholders of the Company;

 

(e) the
resignation by the Director from the Board if after the date hereof, the Chief Executive Officer of her current employer determines
that the Director's continued service on the Board conflicts with her fiduciary obligations to her current employer (a "Fiduciary
Resignation"); and

 

(f) the
resignation by the Director from the Board if the board of directors or the Chief Executive Officer of her current employer requires
the Director to resign and such resignation is not a Fiduciary Resignation.

 

6.
Director's Representation and Acknowledgment. The Director represents to the Company that her execution and performance of
this Agreement shall not be in violation of any agreement or obligation (whether or not written) that she may have with or to
any person or entity, including without limitation, any prior employer. The Director hereby acknowledges and agrees that this
Agreement (and any other agreement or obligation referred to herein) shall be an obligation solely of the Company, and the
Director shall have no recourse whatsoever against any stockholder of the Company or any of their respective affiliates with
regard to this Agreement.

 

     

     

    

 

 7. Director Covenants.

 

(a) Unauthorized
Disclosure. The Director agrees and understands that in the Director's position with the Company, the Director has been and will
be exposed to and receive information relating to the confidential affairs of the Company, including but not limited to technical
information, business and marketing plans, strategies, customer information, other information concerning the Company's products,
promotions, development, financing, expansion plans, business policies and practices, and other forms of information considered
by the Company to be confidential and in the nature of trade secrets. The Director agrees that during the Directorship Term and
thereafter, the Director will keep such information confidential and will not disclose such information, either directly or indirectly,
to any third person or entity without the prior written consent of the Company; provided, however, that (i) the Director shall
have no such obligation to the extent such information is or becomes publicly known or generally known in the Company's industry
other than as a result of the Director's breach of her obligations hereunder and (ii) the Director may, after giving prior notice
to the Company to the extent practicable under the circumstances, disclose such information to the extent required by applicable
laws or governmental regulations or judicial or regulatory process. This confidentiality covenant has no temporal, geographical
or territorial restriction. Upon termination of the Directorship Term, the Director will promptly return to the Company all property,
keys, notes, memoranda, writings, lists, files, reports, customer lists, correspondence, tapes, disks, cards, surveys, maps, logs,
machines, technical data or any other tangible product or document which has been produced by, received by or otherwise submitted
to the Director in the course or otherwise as a result of the Director's position with the Company during or prior to the Directorship
Term, provided that, the Company shall retain such materials and make them available to the Director if requested by him in connection
with any litigation against the Director under circumstances in which (i) the Director demonstrates to the reasonable satisfaction
of the Company that the materials are necessary to her defense in the litigation, and (ii) the confidentiality of the materials
is preserved to the reasonable satisfaction of the Company.

 

(b) Non-Solicitation.
During the Directorship Term and for a period of three (3) years thereafter, the Director shall not interfere with the Company's
relationship with, or endeavor to entice away from the Company, any person who, on the date of the termination of the Directorship
Term, was an employee or customer of the Company or otherwise had a material business relationship with the Company.

 

(c) Non-Compete.
The Director shall not, so long as he or she is a member of the Board and for a period of 12 months following termination of this
Agreement for whatever reason, directly or indirectly as owner, partner, joint venture, stockholder, employee, broker, agent principal,
corporate officer, director, licensor or in any other capacity whatsoever, engage in, become financially interested in, be employed
by, or have any connection with any business or venture that is engaged in any activities involving services or products which
compete, directly or indirectly, with the services or products provided or proposed to be provided by the Company or its subsidiaries
or affiliates; provided, however, that the Director may own securities of any public corporation which is engaged in such business
but in an amount not to exceed at any one time, one percent of any class of stock or securities of such company, so long as the
Director has no active role in the publicly owned company as director, employee, consultant or otherwise.

 

(d) Remedies.
The Director agrees that any breach of the terms of this Section 7 would result in irreparable injury and damage to the Company
for which the Company would have no adequate remedy at law; the Director therefore also agrees that in the event of said breach
or any threat of breach, the Company shall be entitled to an immediate injunction and restraining order to prevent such breach
and/or threatened breach and/or continued breach by the Director and/or any and all entities acting for and/or with the Director,
without having to prove damages, in addition to any other remedies to which the Company may be entitled at law or in equity. The
terms of this paragraph shall not prevent the Company from pursuing any other available remedies for any breach or threatened breach
hereof, including but not limited to the recovery of damages from the Director. The Director acknowledges that the Company would
not have entered into this Agreement had the Director not agreed to the provisions of this Section 7.

 

The provisions
of this Section 7 shall survive any termination of the Directorship Term, and the existence of any claim or cause of action by
the Director against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement
by the Company of the covenants and agreements of this Section 7.

 

8. Indemnification.
The Company agrees to indemnify the Director for her activities as a director of the Company to the fullest extent permitted by
law, and to cover the Director under any directors and officers liability insurance obtained by the Company. Further, the Company
and the Director agree to enter into an indemnification agreement substantially in the form of agreement entered into by the Company
and its other Board members.

 

9. Non-Waiver
of Rights. The failure to enforce at any time the provisions of this Agreement or to require at any time performance by the other
party of any of the provisions hereof shall in no way be construed to be a waiver of such provisions or to affect either the validity
of this Agreement or any part hereof, or the right of either party to enforce each and every provision in accordance with its terms.
No waiver by either party hereto of any breach by the other party hereto of any provision of this Agreement to be performed by
such other party shall be deemed a waiver of similar or dissimilar provisions at that time or at any prior or subsequent time.

 

    2

     

    

 

10. Notices.
Every notice relating to this Agreement shall be in writing and shall be given by personal delivery or by registered or certified
mail, postage prepaid, return receipt requested; to:

 

If to the Company:

 

Urban Tea, Inc.

Huakun Times Plaza, Room 1118, Floor 11

No. 200, Erduan, East Xiang Fu Road

Yuhua District, Changsha, China

 

If to the director:

 

Building 10, Songkeyuan, Songshanhu

Libin Road,

Dongguan, Guangdong Province

China

 

Either
of the parties hereto may change their address for purposes of notice hereunder by giving notice in writing to such other party
pursuant to this Section 10.

 

11. Binding
Effect/Assignment. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs,
executors, personal representatives, estates, successors (including, without limitation, by way of merger) and assigns. Notwithstanding
the provisions of the immediately preceding sentence, neither the Director nor the Company shall assign all or any portion of this
Agreement without the prior written consent of the other party.

 

12. Entire
Agreement. This Agreement (together with the other agreements referred to herein) sets forth the entire understanding of the parties
hereto with respect to the subject matter hereof and supersedes all prior agreements, written or oral, between them as to such
subject matter.

 

13. Severability.
If any provision of this Agreement, or any application thereof to any circumstances, is invalid, in whole or in part, such provision
or application shall to that extent be severable and shall not affect other provisions or applications of this Agreement.

 

14. Governing
Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of New York, without reference
to the principles of conflict of laws. All actions and proceedings arising out of or relating to this Agreement shall be heard
and determined in any New York state or federal court and the parties hereto hereby consent to the jurisdiction of such courts
in any such action or proceeding; provided, however, that neither party shall commence any such action or proceeding unless prior
thereto the parties have in good faith attempted to resolve the claim, dispute or cause of action which is the subject of such
action or proceeding through mediation by an independent third party.

 

15. Legal
Fees. The parties hereto agree that the non-prevailing party in any dispute, claim, action or proceeding between the parties hereto
arising out of or relating to the terms and conditions of this Agreement or any provision thereof (a "Dispute"), shall
reimburse the prevailing party for reasonable attorney's fees and expenses incurred by the prevailing party in connection with
such Dispute; provided, however, that the Director shall only be required to reimburse the Company for its fees and expenses incurred
in connection with a Dispute, if the Director's position in such Dispute was found by the court, arbitrator or other person or
entity presiding over such Dispute to be frivolous or advanced not in good faith.

 

16. Modifications.
Neither this Agreement nor any provision hereof may be modified, altered, amended or waived except by an instrument in writing
duly signed by the party to be charged.

 

17. Tense
and Headings. Whenever any words used herein are in the singular form, they shall be construed as though they were also used in
the plural form in all cases where they would so apply. The headings contained herein are solely for the purposes of reference,
are not part of this Agreement and shall not in any way affect the meaning or interpretation of this Agreement.

 

18. Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original but all of which together
shall constitute one and the same instrument.

 

    3

     

    

 

IN WITNESS WHEREOF, the Company has caused this
Director Agreement to be executed by authority of its Board of Directors, and the Director has hereunto set her hand, on the day
and year first above written.

 

URBAN TEA, INC.

 

	By:	/s/ Long Yi	 
	Name:	 Long Yi	 
	Title:	 Chief Executive Officer	 

 

	DIRECTOR	 

 

	/s/ Yunfei Song	 
	Name: Yunfei Song	 

 

 

4

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