Document:

Exhibit 10.1

 

PERSONAL
EMPLOYMENT AGREEMENT

 

Signed
and entered on the 27th day of the month of January 2022

 

By
and Between:

 

My
Size Israel 2014 Ltd.,

I.D. No. ____________

Of 4 Hayarden St., Airport city

(the “Employer” and / or the “Company”)

 

of
the one part;

 

And

 

Javier
Brandwain I.D. No. ____________

Of Amnon Lipkin Shahak,1, Natanya

(the “Employee”)

 

of
the second part;

 

	Whereas	 	the
                                            Company is a subsidiary of My Size Inc.(the “Parent”), and is engaged
                                            in the development of dedicated applications for mobile devices, which will allow the user
                                            to make measurements of a wide range of items using the smartphone; and

     

     

	Whereas	 	The
    Employer and the Employee (the “Parties”) desire to enter in writing the terms and conditions of the Employee’s
    employment, as set forth in this agreement (the “Agreement”).

 

THEREFORE
THE PARTIES HERETO AGREE AS FOLLOWS:

 

	1.	Recitals
                                            

 

	1.1	The
                                            preamble to this Agreement, including the declarations constitute an integral part hereof,
                                            and are considered as the conditions of the Agreement.

 

	1.2	The
                                            headings in this Agreement are for convenience only and are not to be used to interpret or
                                            construe its provisions.

 

	1.3	All
                                            words used in this Agreement and its appendixes in masculine include feminine, unless the
                                            specific context of the Agreement requires otherwise.

 

	2.	The
                                            Position

 

	2.1	The
                                            employee will be employed as a Chief Commercial Officer (hereinafter: “the job”)
                                            and as part of the job will perform the tasks involved, including but not limited to __________,
                                            and will fulfill other tasks assigned to him in his role by Ronen Luzon, CEO and / or on
                                            his behalf.

 

    	 

     

    

 

	2.2	The
                                            employee will be subject to the instructions and guidelines of the supervisor and will obey
                                            his instructions as well as provide him with a report according to the employer’s procedures
                                            and at any time requested.

 

	3.	Employee’s
                                            Undertakings and Declarations

 

	3.1	The
                                            Employee undertakes that, in order to duly fulfill the Position, he shall devote his time,
                                            and his desire, know-how, efforts, expertise and talents required for the proper performance
                                            thereof and he shall act with loyalty and dedication in order to maintain the property and
                                            rights of the Company.

 

	3.2	The
                                            Employee warrants that in performing his duties he will act in accordance with the policies
                                            of the Company and/or in accordance with specific instructions and approvals of the Company.

 

	3.3	The
                                            Employee hereby undertakes to act in accordance with the Employer’s safety regulations
                                            in effect from time to time, including the Employer’s anti sexual-harassment regulations.

 

	3.4	The
                                            Employee confirms and declares that he has been informed that the use of the computer and/or
                                            the electronic mailbox he was provided by the Employer is solely for purposes of his work
                                            and he may not use them for private purposes. The Employee confirms and declares that he
                                            been advised that he may make reasonable use of the internet network also for private purposes.
                                            The Employee further declares that he has been advised that, in order to maintain a safe
                                            working environment, for the purposes of data security and in order to protect the Employer’s
                                            interests, data and information, the Employer conducts, from time to time, monitoring, maintenance
                                            and backup activities with respect to the use of the internet network, as well as the data
                                            stored on the Employer’s servers and email boxes, and as those means are provided to
                                            the Employee for the purpose of fulfilling his Position; the Employee declares that such
                                            actions by the Employer shall not be considered an infringement of his privacy. In the event
                                            of the occurrence of an irregular incident, in which a reasonable suspicion arises that the
                                            Employer has been compromised, in respect of an unauthorized act carried out by one of the
                                            Employer’s employees or an act that exposes the Employer to a law suit filed by any
                                            entity whatsoever, the Employer will conduct an investigation of the incident and, as required,
                                            will be entitled to carry out examinations and monitoring of the Employee’s personal
                                            computers and/or emails.

 

    	-2-

     

    

 

	3.5	The
                                            Employee confirms and declares that during or as a result of his employment he has provided
                                            and/or shall provide to the Employer, personal and private information about him, such as
                                            CV, employment terms and conditions, personal data, medical data, bank account information,
                                            biometric data as well as possible additional information (the “Private Information”).
                                            The Employee further confirms that he has been informed that such Private Information is
                                            collected, held and processed by the Employer and/or someone on its behalf during his employment,
                                            for the purposes of the ordinary course of business, including managing human resources and
                                            payroll by the Employer and the Employee confirms that the abovementioned shall not be considered
                                            an infringement of his privacy. In addition, the Employee confirms and declares that he has
                                            been informed and hereby expressly agrees that the Employer will be entitled to transfer
                                            the Private Information (in whole or in part) as part of the Employer’s needs as mentioned
                                            above, to the following: (a) Public Entities as defined in the Privacy Protection Act - 1981;
                                            (b) Entities related to the Employer, in Israel and abroad, including but not limited to
                                            any parent Employer, subsidiary, or affiliate of the Employer; (c) Legal advisors and tax
                                            consultants of the Employer, as well as external entities that provide services of managing
                                            human resources and payroll to the Company; (d) Third parties in the framework of any legal
                                            or economic due diligence; (e) Other entities that are not mentioned in sections (a) to (d)
                                            above, subject to a prior written notice of the Company addressed to the Employee concerning
                                            its intention to disclose any information about the Employee provided that the Employee does
                                            not oppose such delivery of information within 7 days after receiving such notice from the
                                            Employer. Such notice shall include the specific name of the entity and the purpose for which
                                            the Employer is willing to deliver such information.

 

	3.6	The
                                            Employee hereby undertakes that, during the term of his employment, he shall not engage,
                                            or be involved with, any additional and/or other work without the prior written consent of
                                            the Company.

 

	3.7	The
                                            Employee hereby warrants and represents that he is in a condition of good health and fit
                                            for working and that he does not suffer from any disability that might limit his ability
                                            to act in the Position and that the Employee will inform the Employer regarding any change
                                            that may occur regarding his state of health.

 

	3.8	The
                                            Employee hereby undertakes that upon termination of the employment of the Employee by the
                                            Employer for any reason whatsoever, whether at the initiative of the Employee or of the Employer,
                                            the Employer shall hand over in an orderly manner according to a procedure to be determined,
                                            his Position and matters under his care to whomever the Employer shall determine, in a manner
                                            which shall enable such person to continue with the performance of the Position in an orderly
                                            manner.

 

	3.9	The
                                            Employee undertakes, that upon the termination of his employment with the Employer, for any
                                            reason whatsoever, the Employee will return any asset, equipment, Employer’s document,
                                            that may be in the Employee’s possession, and that the Employee will not have any right
                                            of lien in respect of any asset or property belonging to the Employer.

 

	4.	Salary
                                            and Employment Benefits 

 

	4.1	Working
                                            days and hours

 

		4.1.1	The
                                            Employee shall work on a full time basis, at least 42 hours per week; the weekly day of rest
                                            of the Employee shall be Saturday.

 

		4.1.2	The
                                            working hours shall be as may be required in accordance with his Position and tasks and the
                                            Employee acknowledges that he will be required to work overtime.

 

    	-3-

     

    

 

		4.1.3	As
                                            the terms of the Employee employment does not allow the Company to supervise his work and
                                            rest hours, at least a substantial part of the working hours, the Company cannot manage and
                                            record his work and rest hours in the attendance recording system. The pay slip of the Employee
                                            will contain an appropriate comment on the subject in accordance with the applicable law.
                                            Notwithstanding, the Employee shall report his attendance whenever it possible.

 

	4.2	Salary
                                            

 

		4.2.1	In
                                            consideration for work carried out during a full month, the Employee shall receive a monthly
                                            salary in the amount of NIS 45,000 (gross) (the “Salary”).

 

		4.2.2	According
                                            at Section 3.4 the Employee acknowledges that the provisions of the Hours Law will not apply
                                            to the Employee and the Employee shall not be entitled to compensation for the necessity
                                            to work on irregular hours, overtime, and on weekly rest days, other than his Salary. The
                                            Employee confirms and declares that his Salary and his term of employment were determined
                                            based on the aforesaid.

 

		4.2.3	The
                                            Employee shall be entitled to a monthly commissions, in respect of the fulfillment of goals
                                            to be determined exclusively by the Company (the “Commissions”).

 

		4.2.4	According
                                            to the Company’s sole discretion, the Commissions model, including the objectives,
                                            eligibility conditions for the Commissions, and payment schedule, may change from time to
                                            time. The change/vary in line with an annual company goals established between CEO and CCO
                                            as part of the corporate process.

 

		4.2.5	Based
                                            on the Company’s current Commissions model, the Employee will be entitled to Commissions
                                            on the overall company’s sales of up to 5% of each direct sale of the Company’s
                                            products/services, up to 2% indirect sale of the company products/services

 

		4.2.6	Elimination
                                            of the Commissions or any change in its terms of payment or eligibility will not constitute
                                            material worsening of the Employee’s terms of employment pursuant to the provisions
                                            of the Severance Payment Law, 1963.

 

		4.2.7	The
                                            Company shall pay the Employee the Salary by the 9th day of each month for the
                                            previous month.

 

		4.2.8	The
                                            Employee shall bear all governmental taxes and other payments which every employee is required
                                            to pay according to law.

 

		4.2.9	The
                                            Employee hereby approves that the Company shall be entitled to set off from the Employee’s
                                            Salary any debt the Employee owes and/or may owe to the Company (the “Debt”),
                                            subject to the Company informing the Employee in writing of the Debt, and the Employee has
                                            not explicitly in writing objected to the Debt within 3 days of the Company’s notice.

 

    	-4-

     

    

 

	4.3	Annual
                                            Leave

 

		4.3.1	The
                                            Employee shall be entitled to 18 working days as paid annual leave.

 

		4.3.2	The
                                            timing of the Employee’s leave will be coordinated with the Company.

 

		4.3.3	The
                                            Employee can accumulate up to 36 days of his annual leave days.

 

		4.3.4	The
                                            redemption of annual leave days shall be in accordance with the Annual Leave Law, 5711-1951,
                                            and only upon termination of Employee’s employment with the Company.

 

	4.4	Sick
                                            Leave

 

		4.4.1	The
                                            Employee shall be entitled to sick leave, according to the provisions of the Sick Pay Law,
                                            1976, as long as he provides the Company an appropriate medical confirmation and is not paid
                                            for the sick leave money from the National Insurance Institute and/or pension insurance and/or
                                            from any other party. On an ex-gratia basis, the Employee shall be entitled to his full Salary
                                            as of the first day of illness.

 

		4.4.2	The
                                            Employee may accrue up to 90 days of sick leave. Accrued sick leave days are not redeemable,
                                            and the Employee will not be entitled to any kind of payment for unused sick days.

 

	4.5	Convalescence
                                            

 

The
Employee shall be entitled to convalescence payment according to the applicable law.

 

	4.6	Pension
                                            Scheme and Severance pay

 

		4.6.1	On
                                            the Effective Date, the Employee is insured and will continue to be insured by the Company,
                                            as of his choice (“Pension Scheme”), as follows:

 

NIS
(gross) of the salary is covered by managers’ insurance policy in the “Migdal” Insurance Company”, and NIS (gross)
of the salary is covered by pension fund in the “ __ __”.

 

		4.6.2	The
                                            payments for the Pension Scheme will continue to be based on the Employee’s Salary
                                            as set forth in Section 4.2.1 above and shall not include any other benefits and/or additional
                                            compensation, such as incentives of any kind. In the event that the Employee shall choose
                                            to insure his Salary in more pension programs, in any event, the insured salary in all such
                                            programs shall not exceed the Employee’s Salary as set forth in Section 4.2.1 above.

 

		4.6.3	Should
                                            the Employee choose to insure his Salary, fully or partially, in a managers’ insurance
                                            policy, the Company will pay to such policy an amount equal to 14.83% of the part of the
                                            Salary insured in the managers’ insurance policy: 8.33% for severance payments and
                                            6.5% for both pension component and disability insurance to cover 75% of the Salary insured
                                            in the managers’ insurance policy, subject to the pension component being no less than
                                            5%. In the event that the cost of the disability insurance will be higher than 1.5%, the
                                            Company shall bear such costs, subject to the pension component together with a disability
                                            component being of a maximum cost of 7.5%

 

    	-5-

     

    

 

		4.6.4	Should
                                            the Employee choose to insure his Salary, fully or partially, in a pension fund, the Company
                                            will pay to such fund an amount equal to 14.83% of the part of the Salary insured in the
                                            pension fund: 8.33% for severance payments and 6.5% for pension component.

 

		4.6.5	In
                                            addition, the Company will continue to deduct from the Employee’s Salary an amount
                                            equal to 6% for the Employee’s part of the Pension Scheme to be forwarded to the Pension
                                            Scheme, and the Employee hereby approve such deduction.

 

		4.6.6	The
                                            Company’s contributions to the Pension Scheme for severance component of 8.33% shall
                                            be in lieu of 100% of the severance compensation according to clause 14 of the Severance
                                            Pay Law, 1963.

 

		4.6.7	The
                                            Parties hereby declare that they wish to continue to adopt all the of the terms and conditions
                                            detailed in the general approval of the Minister of Labor regarding payments by employers
                                            to a pension fund and insurance fund in lieu of severance pay (the “General Permit”),
                                            in accordance with section 14 of the Severance Pay Law, 1963, attached as Appendix
                                            A to this Agreement, as will be updated from time to time. These terms and conditions
                                            oblige the Parties to this agreement. For the avoidance of doubt, it is hereby clarified
                                            that the above conditions do not derogate from the rights and/or benefits granted to the
                                            Employee in accordance with this Agreement.

 

		4.6.8	The
                                            Company waives all rights for return of the sums paid by it to the Pension Scheme for severance,
                                            unless the Employee’s right for severance was denied by court ruling under clauses
                                            16-17 to the Severance Pay Law, 1963 or in the event that the Employee withdrew monies from
                                            the Pension Scheme without “Entitling Event”, as defined by the General Permit.

 

		4.6.9	The
                                            Employer shall bear all applicable taxes for any of the Employer’s and the Employee’s
                                            contributions to the Pension Scheme exceeding the maximum amount exempt from income tax for
                                            such payments

 

		4.6.10	The
                                            Employee hereby warrants and represents that he fully approves the aforesaid conditions detailed
                                            in this Section 4.6.

 

	4.7	Education
                                            Fund

 

		4.7.1	The
                                            Employee will continue to be entitled to an education fund of his choice in “Migdal”
                                            (the “Education Fund”).

 

    	-6-

     

    

 

		4.7.2	The
                                            contribution towards the Education Fund will be limited to the maximum amount exempt from
                                            income tax for such payments.

 

		4.7.3	The
                                            Employer’s monthly contributions shall be 7.5% and the Employee’s monthly contributions
                                            shall be 2.5% (by way of withholding from the Salary).

 

	4.8	Additional
                                            Benefits

 

The
Employee shall be entitled to a Company’s car, Company’s cell phone and reimbursement for lunch expenses, all in accordance
with the Company’s policy.

 

	4.9	Expenses
                                            

 

The
Employee shall be entitled to reimbursement from the Company for all reasonable expenses and disbursements incurred by him in carrying
out his duties under this Agreement subject to Company’s policy, including any reasonable expenses associated with traveling overseas
(flights, accommodation and travel insurance).

 

	4.10	The
                                            terms and conditions of this Agreement shall be in effect as of 1.2.2022 (the “Effective
                                            Date”).

 

	4.11	The
                                            term of employment is for an unlimited period, until the termination of the Agreement as
                                            described below.

 

	4.12	Each
                                            of the Parties will be allowed to terminate this Agreement, for any reason, by giving the
                                            other a written notice according to the applicable law (the “Notice Period”).

 

	4.13	The
                                            Company has the right to determine whether, during the prior Notice Period, the Employee
                                            shall continue to actually work for the Company or whether the Company shall waive the actual
                                            work of the Employee during such period, all without derogating from the Employee’s
                                            right to receive a payment in lieu of notice period, according to law.

 

	4.14	In
                                            the event that the Employee terminates his employment without providing prior notice, the
                                            Company may deduct the amount equal to the Salary to which the Employee would have been entitled
                                            had he continued to work during the Notice Period from his Salary or from any other sum due
                                            to the Employee.

 

	4.15	Notwithstanding
                                            anything to the contrary herein, and without derogating from the causes of action available
                                            under the law, the Company may terminate this Agreement at any time during the term of this
                                            Agreement, without prior notice (or payment in lieu of such), in any of the following events
                                            (each cause for such termination, pursuant to the following and/or any applicable law shall
                                            be referred herein as: “Cause”):

 

		4.15.1	The
                                            Employee has been convicted of a criminal offence involving moral turpitude;

 

		4.15.2	The
                                            Employee has acted in bad faith and/or acted dishonestly and/or disloyally -6- and/or has
                                            provided a false report and/or caused the Company malicious damage and/or broke the discipline
                                            code;

 

    	-7-

     

    

 

		4.15.3	The
                                            Employee has breached Chapter 6 and/or Appendix B of this Agreement.

 

	5.	Loyalty,
                                            Confidentiality, Proprietary Information and Non-Competition

 

Concurrently
with the execution of this Agreement, the Employee shall sign the Loyalty, Confidentiality, Intellectual Property and Non-Compete undertaking
attached hereto as Appendix B to this Agreement, such letter of undertaking shall form an integral part of this Agreement.

 

	6.	Miscellaneous
                                            

 

	6.1	This
                                            Agreement constitutes the entire understanding between the Parties, both oral and written,
                                            in relation to the employment of the Employee by the Company and this Agreement supersedes
                                            any previous agreements and understandings, whether explicit or implied, existing between
                                            the parties prior to their signature hereof, including the Original Agreement . As of signature
                                            hereunder, parties shall only be subject to this Agreement. Any change and/or addition to
                                            this Agreement, in writing or in conduct, will not be valid unless drafted in writing and
                                            signed by the Parties.

 

	6.2	The
                                            Employer is not a member of any Employers union and provisions of any agreement and/or collective
                                            agreement shall not apply to the relations between the Parties, and such relations shall
                                            be governed solely by the provisions of this Agreement.

 

	6.3	The
                                            payments according to the Agreement constitute the full consideration for all of Employee’s
                                            undertakings towards the Company and that he does not have, nor will have, any right to any
                                            additional payment of any kind whatsoever, whether monetary or its equivalent.

 

	6.4	The
                                            Company shall be entitled to transfer its rights under this Agreement to another company
                                            and/or person, provided that such transfer shall not prejudice the rights of the Employee
                                            as detailed in this Agreement and such transfer shall not give rise to a cause for resignation
                                            which will award him severance.

 

	6.5	Upon
                                            termination of employment relations, the Company shall be entitled to offset from any amount
                                            due to the Employee the total amount of monetary debts owed by the Employee to the Company.
                                            By signing this Agreement the Employee gives an irrevocable instruction to the Company to
                                            deduct and/or offset from any amount due to him from the Company upon termination of the
                                            employment relations, all his debts to the Company and he also undertakes to sign any document
                                            required on the date of termination of the employment for the purpose of allowing the Company
                                            to collect the all of the Employee’s debts.

 

    	-8-

     

    

 

	6.6	Shall
                                            the Company waive its right to any of its rights as described in this Agreement such waiver
                                            will not be used as precedent to that right or any other right. It will not be referred to
                                            in the future either for cases that are alike or similar.

 

	6.7	The
                                            addresses of the Parties for the purposes of this Agreement shall be as first written above.
                                            Any notice shall be delivered via certified mail and shall be considered delivered to the
                                            other party at the earlier of receipt or 72 hours following the date of the post office authorization
                                            regarding receipt.

 

	6.8	The
                                            Employee confirms and declares that he had thoroughly read and understood this Agreement
                                            and he had thus signed this Agreement with full understanding of its content and significance.

 

IN
WITNESS THEREOF THE PARTIES HAVE SIGNED:

 

	/s/
    Or Kles (MySize Israel 2014 Ltd.)	 	/s/
    Javier Brandwain
	Employer	 	Employee

 

    	-9-

     

    

 

Appendix
A

 

GENERAL
APPROVAL REGARDING PAYMENTS BY EMPLOYERS TO A PENSION

FUND AND INSURANCE FUND IN LIEU OF SEVERANCE PAY

 

By
virtue of my power under section 14 of the Severance Pay Law, 1963 (hereinafter: the “Law”), I certify that payments
made by an employer commencing from the date of the publication of this approval publication for its employee to a comprehensive pension
benefit fund that is not an insurance fund within the meaning thereof in the Income Tax (Rules for the Approval and Conduct of Benefit
Funds) Regulations, 1964 (hereinafter: the “Pension Fund”) or to managers insurance including the possibility of an
insurance pension fund or a combination of payments to an annuity fund and to a non-annuity fund (hereinafter: the “Insurance
Fund”), including payments made by him by a combination of payments to a Pension Fund and an Insurance Fund, whether or not
the Insurance Fund has an annuity fund (hereinafter: the “Employer’s Payments”), shall be made in lieu of the
severance pay due to the said employee in respect of the salary from which the said payments were made and for the period they were paid
(hereinafter: the “Exempt Salary”), provided that all the following conditions are fulfilled:

 

	(1)	The
                                            Employer’s Payments -

 

		(a)	To
                                            the Pension Fund are not less than 141/3% of the Exempt Salary or 12%
                                            of the Exempt Salary if the employer pays for its employee in addition thereto also payments
                                            to supplement severance pay to a benefit fund for severance pay or to an Insurance Fund in
                                            the employee’s name in an amount of 21/3% of the Exempt Salary.
                                            In the event the employer has not paid an addition to the said 12%, its payments shall be
                                            only in lieu of 72% of the employee’s severance pay;

 

		(b)	To
                                            the Insurance Fund are not less than one of the following:

 

		(i)	131/3%
                                            of the Exempt Salary, if the employer pays for its employee in addition thereto also payments
                                            to secure monthly income in the event of disability, in a plan approved by the Commissioner
                                            of the Capital Market, Insurance and Savings Department of the Ministry of Finance, in an
                                            amount required to secure at least 75% of the Exempt Salary or in an amount of 21/2%
                                            of the Exempt Salary, the lower of the two (hereinafter: “Disability Insurance”);

 

		(ii)	11%
                                            of the Exempt Salary, if the employer paid, in addition, a payment to the Disability Insurance,
                                            and in such case the Employer’s Payments shall only replace 72% of the Employee’s
                                            severance pay; In the event the employer has paid in addition to the foregoing payments to
                                            supplement severance pay to a benefit fund for severance pay or to an Insurance Fund in the
                                            employee’s name in an amount of 21/3% of the Exempt Salary, the
                                            Employer’s Payments shall replace 100% of the employee’s severance pay.

 

    	-10-

     

    

 

	(2)	No
                                            later than three months from the commencement of the Employer’s Payments, a written
                                            agreement is executed between the employer and the employee in which -

 

		(i)	The
                                            employee has agreed to the arrangement pursuant to this approval in a text specifying the
                                            Employer’s Payments, the Pension Fund and Insurance Fund, as the case may be; the said
                                            agreement shall also include the text of this approval;

 

		(ii)	The
                                            employer waives in advance any right, which it may have to a refund of monies from its payments,
                                            unless the employee’s right to severance pay has been revoked by a judgment by virtue
                                            of Section 16 or 17 of the Law, and to the extent so revoked and/or the employee has withdrawn
                                            monies from the Pension Fund or Insurance Fund other than by reason of an entitling event;
                                            in such regard “Entitling Event” means death, disability or retirement at or
                                            after the age of 60.

 

	(3)	This
                                            approval is not such as to derogate from the employee’s right to severance pay pursuant
                                            to any law, collective agreement, extension order or employment agreement, in respect of
                                            salary over and above the Exempt Salary.

 

	/s/
    Or Kles (MySize Israel 2014 Ltd.) 	 	/s/
    Javier Brandwain
	Employer	 	Employee

 

    	-11-

     

    

 

Appendix
B

 

Loyalty,
Confidentiality, Non-Competition and Intellectual Property Undertakings

 

To:

My Size Israel 2014 Ltd

(the “Company”)

 

I,
the undersigned, Javier Brandwain I. D. No. ____________, hereby declare, authorize and undertake towards the Company, as follows:

 

	1.	Loyalty
                                            

 

	1.1	I
                                            undertake to act in good faith and in a skilled and professional manner in order to achieve
                                            the objectives of my employment and for the benefit of the Company, and I undertake to divulge
                                            to the Company, any item of news and to hand over any document related to its business, that
                                            will come into my possession as a result of my position in the Company.

 

	1.2	I
                                            undertake to exercise practical and business consideration in the fulfillment of my duties,
                                            aimed exclusively to benefit the interests of the Company and I undertake to not be in a
                                            situation of a conflict between my personal interests and the interests of the Company and
                                            I am aware of the fact that the obligation of full disclosure applies to in respect of a
                                            personal conflict that I may have in any matter related to the company.

 

	1.3	I
                                            undertake to not receive any hidden proceeds, including commissions, rights and benefits
                                            of any kind whatsoever, as a result of my status in the Company or arising therefrom, and
                                            even should I receive such proceeds, in a way that I believe I am acting in good faith, that
                                            there is nothing improper in any way of receiving such, and the Company will be entitled
                                            to receive the proceeds or benefits or rights created or produced under these circumstances,
                                            in addition to any other remedy or relief permitted under the law.

 

	1.4	I
                                            undertake to refrain from transferring to myself and/or to anyone acting on my behalf, directly
                                            and/or indirectly, business activities and/or business opportunities that the Company is
                                            interested in within the ambit of the business of the Company and/or its affiliated corporations,
                                            and this during the duration of my period of employment and also for a period of 6 months
                                            from the date of the termination of my employment at the Company, unless I have received
                                            prior written approval from the Company.

 

	1.5	I
                                            undertake that during the period of my employment at the Company and also for a period of
                                            6 months after the termination of my employment, I will not approach, in any manner whatsoever,
                                            the Company’s customers and/or the Company’s employees and/or the Company’s
                                            service providers and/or the Company’s affiliated corporations (the “Entities
                                            Affiliated to the Company”) and neither to anyone who was an Entity Affiliated
                                            with the Company during the last year of my employment, in order to solicit them and/or encourage
                                            them to carry out any work and/or to provide any service in the field of the Company products/services
                                            and/or in order to solicit them to terminate their engagement with the Company and/or with
                                            its affiliated corporations. The above mentioned in this paragraph will not apply in the
                                            case that the Company authorized such an engagement and/or approach as stated, in advance
                                            and in writing.

 

    	-12-

     

    

 

	2.	Confidentiality

 

	2.1	I
                                            recognize that as part of my employment with the Company, I may be exposed to, have access
                                            to and be engaged in the development of any information or knowledge directly or indirectly
                                            related to the Company’s business and/or activity and/or products, including, without
                                            limitation, all data pertaining to the Company’s technical, professional data, technological
                                            developments, commercial/trade secrets, lists of customers and suppliers, price lists, method
                                            of determining prices, the Company’s policy regarding its customers and suppliers,
                                            methods of marketing and sales, financial information, training methods of the Company’s
                                            employees, information pertaining to transactions entered into or negotiated by the Company,
                                            security matters, and any technical, commercial or other information related to the Company
                                            which I learned of and/or came into my possession during or due to my employment (hereinafter:
                                            the “Confidential Information”). The Confidential Information will not
                                            include: information that is public knowledge through no wrongful act on my behalf; information
                                            that has or will become part of my professional skills. I acknowledge that the Company has
                                            received and may receive from time to time from third parties, information that is confidential
                                            or proprietary to such third party, as long as I received it as a result of my employment
                                            (hereinafter: the “Third-Party Information”).

 

	2.2	I
                                            acknowledge that the Confidential Information is a valuable and unique asset of the Company’s
                                            business and that its use or disclosure would cause the Company substantial loss and damages.

 

	2.3	Accordingly,
                                            I hereby declare and undertake that, for the duration of my employment and for an unlimited
                                            period of time after termination of my employment, I shall maintain in absolute confidence
                                            and shall make no use and shall not deliver, disclose or publish in any manner whatsoever
                                            the Confidential Information.

 

	2.4	I
                                            undertakes not to make any self-use or other of the Confidential Information in any manner
                                            whatsoever, whether for consideration or not, without the prior written consent of the Company.

 

	2.5	Upon
                                            the termination of my employment at the Company, for any reason whatsoever, I undertake to
                                            return to the Company, without delay, any information and/or software program that has come
                                            into my possession, including information and/or software programs prepared by me. Likewise,
                                            I undertake to not keep any photocopy and/or other form of copy of the information and the
                                            software in my possession.

 

	2.6	Upon
                                            the termination of the employer-employee relations, for any reason, I hereby undertake to
                                            destroy any material, information, reports, forms or anything else that I received from the
                                            Company or that I created for the Company, including materials that I created for the Company’s
                                            customers and which were saved or stored by me on my home computer and/or anywhere else that
                                            is not the Company’s server and/or the Company’s computers.

 

    	-13-

     

    

 

	3.	Non-Competition
                                            

 

	3.1	I
                                            undertake that during a period of 6 months from the date of the termination of employer-employee
                                            relations for any reason whatsoever, I will not compete with the Company and/or I will not
                                            work and/or I will not be associated, whether for remuneration or nor for remuneration, whether
                                            as an employee or whether as a self-employed, whether as a partner or whether as a shareholder,
                                            whether as a consultant or whether in any other manner, in an Israeli or foreign organization,
                                            that competes with the Company and that engagement will reasonably give rise to the exposure
                                            of the Confidential Information of the Company, and this will in all probability cause damage
                                            to the Company. This limitation will apply throughout Israel and outside thereof, as long
                                            as such organization competes with the Company and is interested in its Confidential Information
                                            at the relevant time.

 

	3.2	I
                                            take this undertaking upon myself out of the recognition of my rights to work in my profession
                                            after the termination of employer-employee relations with the Company, and also with the
                                            recognition of the right of the Company to protect its vital business interests. The limitation
                                            period and the scope thereof have been agreed upon between me and the Company, after I had
                                            taken into account the totality of concurrences between me and the Company, the terms of
                                            my Salary, and after I decided that my undertaking will not constitute an unreasonable limitation
                                            to my capability to continue being employed in my profession also outside of the Company’s
                                            field of operations.

 

	4.	Intellectual
                                            Property

 

	4.1	It
                                            is hereby agreed that any patents, models, names or commercial marks, copyright, as well
                                            as inventions, developments, enhancements or improvements, or other intellectual property
                                            of any kind whatsoever, that were made, invented or implemented by me, on my own and/or in
                                            conjunction with others, during the course of my work at the Company, and due to my employment
                                            at the Company (the “Intellectual Property”), will be the sole property
                                            and possession of the Company.

 

	4.2	I
                                            undertake to promptly disclose to the Company, any Intellectual Property and to assist the
                                            Company, to the best of my ability, to materialize its rights regarding the Intellectual
                                            Property and to sign any application or other document that will be required by the Company
                                            in order to materialize its rights and in order to register the Company as the owner of the
                                            above stated rights, as long as I will not be obligated to bear any expenses whatsoever in
                                            this regard.

 

	4.3	I
                                            am aware of the fact that I will not be eligible to a Service Invention, as its meaning
                                            in the Patents Law, 1967 (the “Patents Law”), and such will not be my
                                            property and the provisions of Article 132 (b) of the Patents Law will not apply to me and
                                            to the Company, in such a manner that even if I dispatch a notification to the Company regarding
                                            the Service Invention and even if the Company does not respond to me within 6 months
                                            – the Company will not be considered, under any circumstances, as having waived the
                                            rights to such invention.

 

    	-14-

     

    

 

	4.4	I
                                            agree that I will not be entitled to any additional compensation and/or royalties and/or
                                            payment of any kind whatsoever for any Intellectual Property whatsoever, as defined above,
                                            over than the amounts paid by the Company, including Salary and all the rest of the terms
                                            of my employment.

 

	4.5	Without
                                            derogating from the generality of the above stated, I hereby explicitly waive any right,
                                            claim, or demand related to the eligibility for any payment, compensation or royalties related
                                            to any Intellectual Property, including with respect of any claim for consideration regarding
                                            Service Invention, under Article 134 of the Patents Law. I hereby declare that my
                                            Salary and all the rest of the accompanying terms of my employment paid and/or granted to
                                            me by the Company, constitute the full and final consideration for any intellectual property
                                            that I am likely to develop and/or compose and/or achieve by any other means as stated above
                                            in this letter of undertaking.

 

	4.6	In
                                            addition, I hereby waive the right to assert any claim or demand regarding the eligibility
                                            to receive royalties, compensation or rewards related to intellectual property before the
                                            Compensation and Royalties Committee set up at the Office of the Patents Registrar.

 

	5.	Miscellaneous

 

	5.1	For
                                            purposes herein the term “Company” shall include the Parent and any affiliates
                                            of the Company.

 

	5.2	I
                                            am aware of the fact that this letter of undertaking is an appendix to the employment Agreement
                                            between me and the Company and it constitutes an inseparable part thereof, to all intents
                                            and purposes.

 

	5.3	My
                                            undertakings in accordance with the this letter of undertaking will also apply in the case
                                            of the termination of employer-employee relations between the Parties and also in the case
                                            of the termination and/or annulment of the employment Agreement, to which this letter of
                                            undertaking constitutes an appendix.

 

	5.4	Despite
                                            the fact that the limitations detailed in this appendix are acceptable to me and I find them
                                            to be reasonable under the circumstances, if, in the event of, and for any reason whatsoever,
                                            a judicial instance will rule that the limitations are unreasonable, but they would have
                                            been reasonable should the terms and conditions have been altered, such as a change in the
                                            wording, a shortening of the time period, a reduction in the scope of the fields, and such
                                            other changes, then such changes will obligate me and the Company as if such were agreed
                                            between us from the outset, in such a manner that the validity of this document will be upheld.

 

	5.5	I
                                            acknowledge that this appendix constitutes my independent undertakings with regard to that
                                            stated in the appendix. Without derogating from the aforementioned, I acknowledge that any
                                            claim and/or demand and/or argument which I have and/or may have against the Company shall
                                            not constitute protection against the fulfilment of my obligations under this appendix.

 

		5.6	Nothing
                                            in this document shall be deemed to derogate from any remedy and/or right available to the
                                            Company as prescribed by law.

 

	E.
    Javier Brandwain	 	January
    27, 2022	 	/s/
    Javier Brandwain
	Name
    of the Employee 	 	Date	 	Signature

 

    	-15-Exhibit 10.1

  

EMBARK TRUCKS INC.

424 Townsend St, San Francisco, CA

 

May 15, 2021

 

Stephen Houghton

19621
N. 96th Pl.

Scottsdale, AZ 85255

 

Dear Stephen:

 

Embark Trucks Inc., a Delaware corporation
(the “Company”), is pleased to offer you employment with the Company on the terms described below.

 

1.            Position. You will start in a full-time position as Chief Operations and Fleet Officer and you will initially report to
the Company’s Chief Executive Officer. By signing this letter, you confirm with the Company that you are under no contractual or
other legal obligations that would prohibit you from performing your duties with the Company.

 

2.            Place
of Performance. You will not be required to relocate your primary residence to the metropolitan area of the Company’s headquarters
or operations center; provided that you understand and agree that you will be required to travel from time to time for business purposes
(including, without limitation, to the Company’s headquarters as appropriate to fulfill the duties set forth above in Section 1),
and that at times, the Company may require extended stays away from your primary residence.

 

3.            Base Salary. You will be paid a starting salary at the rate of $300,000 per year, which will be paid in accordance with
the Company’s standard payroll policies and subject to applicable withholdings and other required deductions.

 

4.
           Retention Bonus. The Company will advance you $50,000 as
a retention bonus (the “Retention Bonus”) on or about the first regularly scheduled payday of your employment. Such
bonus will only be earned if you complete 12 months of employment following your employment start date (the “Retention Period”).
If your employment terminates prior to the completion of such Retention Period, you acknowledge and agree that you will immediately return
a prorated amount of the Retention Bonus (that is, an amount equal to 1/12th multiplied by  (i)  12 less (ii) the number of
whole months of employment you have completed with the Company) to the Company in a check made payable to the Company.

 

5.            Equity
Award. Subject to the approval of the Company’s Board of Directors (the “Board”), you will be granted an
option or other equity award covering 250,000 shares of the common stock of the Company (or a successor thereto) (such award, the
 “Equity Award”). The Equity Award will vest and become exercisable at the rate of 25% of the total number of shares
subject to the Equity Award on the 1-year anniversary of your start date of employment with the Company and 1/48th of the total
number of shares subject to the Equity Award on each monthly anniversary thereafter, subject to your continuous service with the
Company through each vesting date. You will vest in 50% of your remaining unvested Equity Award shares if (a) the Company is subject
to a Change in Control before your service with the Company terminates and (b) you are subject to an Involuntary Termination
(as defined below) within 12 months after that Change in Control.

 

    	 	 	 

     

    

 

The exercise price per share
of the Equity Award, if applicable, will be equal to the fair market value per share of the common stock of the Company (or successor
thereto) on the date the Equity Award is granted, as determined by the Board in its discretion. There is no guarantee that the Internal
Revenue Service will agree with this value. You should consult with your own tax advisor concerning the tax consequences associated with
accepting the Equity Award. The Equity Award will be subject to the terms and conditions set forth in the Company’s 2016 Stock
Plan (or any successor equity plan of the Company) and the Company’s standard form of award agreement.

 

6.            Employee Benefits. As a regular employee of the Company, you will be eligible to participate in those Company-sponsored
benefits generally made available to all full-time employees, including health, vision and dental insurance for you and your dependents
(spouse and children), life insurance, vacation, sick leave and 401k. Notwithstanding the foregoing, the Company reserves the right to
modify or terminate benefits from time to time as it deems necessary or appropriate. The Company’s employee handbook and/or benefits
policy will set forth the applicable benefits plan and any changes to it.

 

7.            Confidential
Information and Invention Assignment Agreement. Like all Company employees, you will be required, as a condition of your
employment with the Company, to sign the Company’s enclosed standard Confidential Information and Invention Assignment
Agreement, a copy of which is attached hereto as Attachment A.

 

8.            Employment
Relationship. Employment with the Company is for no specific period of time. Your employment with the Company will be “at
will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause
or notice. Any contrary representations which may have been made to you are superseded by this offer. This is the full and complete agreement
between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company’s
personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed
in an express written agreement signed by you and the Company’s Chief Executive Officer.

 

 9.            Severance Pay.

 

(a)          General.
If you are subject to an Involuntary Termination, then you will be entitled to the benefits described in this Section 9. However,
this Section 9 will not apply unless you (i) have returned all Company property in your possession, (ii) have resigned as a member
of the Boards of Directors of the Company and all of its subsidiaries, to the extent applicable, and (iii) have executed a general
release of all claims that you may have against the Company or persons affiliated with the Company. The release must be in the form
prescribed by the Company, without alterations. You must execute and return the release on or before the date specified by the
Company in the prescribed form (the “Release Deadline”). The Release Deadline will in no event be later than 50 days
after your Separation. If you fail to return the release on or before the Release Deadline, or if you revoke the release, then you
will not be entitled to the benefits described in this Section 9.

 

    	 	-2-	 

     

    

 

(b)         Salary Continuation. If you
are subject to an Involuntary Termination, then the Company will continue to pay your Base Salary for a period of 6 months after your
Separation. Your Base Salary will be paid at the rate in effect at the time of your Separation and in accordance with the Company’s
standard payroll procedures. The salary continuation payments will commence within 60 days after your Separation and, once they commence,
will include any unpaid amounts accrued from the date of your Separation. However, if the 60-day period described in the preceding sentence
spans two calendar years, then the payments will in any event begin in the second calendar year.

 

10.          Outside Activities. During the period of your employment, you agree that you will not engage in any other employment, consulting
or other business activity without the written consent of the Company. In addition, you will not assist any person or entity in competing
with the Company, in preparing to compete with the Company or in hiring any employees or consultants of the Company during your period
of employment.

 

 11.          Tax Matters. 

 

(a)          Withholding. All forms of compensation
referred to in this letter agreement are subject to reduction to reflect applicable withholding and payroll taxes and other deductions
required by law.

 

(b)         Section 409A. For purposes of
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), each salary continuation payment under Section
9(b) is hereby designated as a separate payment. If the Company determines that you are a “specified employee” under Section
409A(a)(2)(B)(i) of the Code at the time of your Separation, then (i) the salary continuation payments under Section 9(b), to the extent
that they are subject to Section 409A of the Code, will commence on the first business day following (A) expiration of the six-month period
measured from your Separation or (B) the date of your death and (ii) the installments that otherwise would have been paid prior to such
date will be paid in a lump sum when the salary continuation payments commence.

 

(c)          Tax Advice. You are encouraged
to obtain your own tax advice regarding your compensation from the Company. You agree that the Company does not have a duty to design
its compensation policies in a manner that minimizes your tax liabilities, and you will not make any claim against the Company or its
Board related to tax liabilities arising from your compensation.

 

    	 	-3-	 

     

    

 

12.          Miscellaneous.

 

(a)          Definitions. The following
terms have the meaning set forth below wherever they are used in this letter agreement:

 

(i)           “Cause” means (A) your unauthorized use or disclosure
of the Company’s confidential information or trade secrets, which use or disclosure causes material harm to the Company, (B) your
material breach of any agreement between you and the Company, (C) your material failure to comply with the Company’s written policies
or rules, (D) your conviction of, or your plea of “guilty” or “no contest” to, a felony under the laws of the
United States or any State, (E) your gross negligence or willful misconduct, (F) your failure to perform assigned duties from the Company’s
Board of Directors or (G) your failure to cooperate in good faith with a governmental or internal investigation of the Company or its
directors, officers or employees, if the Company has requested your cooperation.

 

(ii)          “Change in Control” means (A) the consummation
of a merger or consolidation of the Company with or into another entity or (B) the dissolution, liquidation or winding up of the Company.
The foregoing notwithstanding, a merger or consolidation of the Company does not constitute a “Change in Control” if immediately
after the merger or consolidation a majority of the voting power of the capital stock of the continuing or surviving entity, or any direct
or indirect parent corporation of the continuing or surviving entity, will be owned by the persons who were the Company’s stockholders
immediately prior to the merger or consolidation.

 

(iii)         “Involuntary Termination” means either (A)
your Termination Without Cause or (B) your Resignation for Good Reason.

 

(iv)         “Resignation for Good Reason” means a Separation
as a result of your resignation within 12 months after one of the following conditions has come into existence without your consent:
(A) A reduction in your base salary by more than 10% (other than in connection with similar decreases of other officers of the Company);
(B) A material diminution of your authority, duties or responsibilities; provided however, that neither: (1) a change in your manager
to an executive designated by the Chief Executive Officer to be responsible for your function shall constitute Good Reason or (2) a change
in your position following a Change in Control shall constitute Good Reason so long as you retain substantially the same duties and responsibilities
of a division, subsidiary or business unit that constitutes substantially the same business of the Company following the Change in Control;
or (C) A material change in your role or responsibilities requiring a relocation of your principal workplace by more than 50 miles. A
Resignation for Good Reason will not be deemed to have occurred unless you give the Company written notice of the condition within 45
days after the condition comes into existence and the Company fails to remedy the condition within 30 days after receiving your written
notice.

 

(v)          “Permanent Disability” means that you are unable
to perform the essential functions of your position, with or without reasonable accommodation, for a period of at least 120 consecutive
days because of a physical or mental impairment.

 

(vi)         “Separation” means a “separation from
service,” as defined in the regulations under Section 409A of the Internal Revenue Code of 1986, as amended.

 

(vii)        “Termination Without Cause” means a Separation
as a result of a termination of your employment by the Company without Cause, provided you are willing and able to continue performing
services within the meaning of Treasury Regulation 1.409A-1(n)(1).

  

    	 	-4-	 

     

    

 

(b)          Governing Law. The validity,
interpretation, construction and performance of this letter, and all acts and transactions pursuant hereto and the rights and obligations
of the parties hereto shall be governed, construed and interpreted in accordance with the laws of state of California, without giving
effect to principles of conflicts of law.

 

(c)          Entire Agreement. This
letter sets forth the entire agreement and understanding of the parties relating to the subject matter herein and supersedes all prior
or contemporaneous discussions, understandings and agreements, whether oral or written, between them relating to the subject matter hereof.

 

(d)         Counterparts. This letter
may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and all of which
together shall constitute one and the same agreement. Execution of a facsimile copy will have the same force and effect as execution of
an original, and a facsimile signature will be deemed an original and valid signature.

 

(e)          Electronic Delivery.
The Company may, in its sole discretion, decide to deliver any documents or notices related to this letter, securities of the Company
or any of its affiliates or any other matter, including documents and/or notices required to be delivered to you by applicable securities
law or any other law or the Company’s Certificate of Incorporation or Bylaws by email or any other electronic means. You hereby
consent to (i) conduct business electronically (ii) receive such documents and notices by such electronic delivery and (iii) sign documents
electronically and agree to participate through an on-line or electronic system established and maintained by the Company or a third party
designated by the Company.

  

[Signature Page Follows]

  

    	 	-5-	 

     

    

 

If you wish to accept this offer, please
sign and date this letter and the attached Confidential Information and Invention Assignment Agreement and return them to me. As required
by law, your employment with the Company is also contingent upon your providing legal proof of your identity and authorization to work
in the United States as well as passing a background check and providing references as may be required by the Company. This offer, if
not accepted, will expire at the close of business on May 18, 2021.

 

We look forward to your favorable reply and to working with
you at Embark!

  

	 	Very truly yours,
	 	 
	 	EMBARK TRUCKS INC.
	 	 
	 	/s/ Alex Rodrigues
	 	Alex Rodrigues, CEO

 

 

	ACCEPTED AND AGREED:	 
	 	 
	Stephen Houghton	 	 
	 	 	 
	/s/ Stephen Houghton		 
	(Signature)	 
	 	 
	5/15/2021	 	 
	Date	 
	 	 
	Anticipated Start Date: May 31, 2021	 
	 	 
	 	 
	Attachments:
	Attachment A: Confidential Information and Invention Assignment Agreement

  

    	 	-6-

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