Document:

Exhibit 10.4.1

 

SECURITIES PURCHASE AGREEMENT

 

This Securities Purchase
Agreement (this “Agreement”) is dated as of December 29, 2017, between MedyMatch Technology Ltd., a company
incorporated under the laws of the State of Israel (the “Company”), and each purchaser identified on the signature
pages hereto (each, including its successors and permitted assigns, a “Purchaser” and collectively, the “Purchasers”).

 

WHEREAS, subject to
the terms and conditions set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended
(the “Securities Act”), and Rule 506 promulgated thereunder, the Company desires to issue and sell to each Purchaser,
and each Purchaser, severally and not jointly, desires to purchase from the Company, securities of the Company as more fully described
in this Agreement.

 

NOW, THEREFORE, IN
CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows:

 

ARTICLE I.

DEFINITIONS

 

1.1 Definitions.
In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings set forth in this Section 1.1:

 

“Acquiring
Person” shall have the meaning ascribed to such term in Section 4.14.

 

“Action”
shall have the meaning ascribed to such term in Section 3.1(j).

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Amended Articles”
shall have the meaning ascribed to such term in Section 4.20.

 

“Board of
Directors” means the board of directors of the Company.

 

“Business
Day” means any day except any Saturday, Sunday and any day which is a federal legal holiday in the United States, or
any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to
close.

 

“CLAs”
means (i) the Amended and Restated Convertible Secured Bridge Loan and Credit Facility Agreement dated August 1, 2016, between
the Company and Exigent Management Ltd., an Israeli limited liability private company, as amended by the First Amendment to Amended
and Restated Convertible Secured Bridge Loan and Credit Facility Agreement entered into on April 27, 2017, as further amended by
the Second Amendment to Amended and Restated Convertible Secured Bridge Loan and Credit Facility Agreement entered into on June
1, 2017, and as further amended by the Third Amendment to Amended and Restated Convertible Secured Bridge Loan and Credit Facility
Agreement entered into on or about the date hereof, and (ii) the Convertible Bridge Loan Agreement dated August 28, 2017, by and
between the Company and Eugene Saragnese, and (iii) the Convertible Bridge Loan Agreement dated August 14, 2017, by and between
the Company and Reuven Raz.

 

“Closing”
means a Closing of the purchase and sale of the Securities pursuant to Section 2.1.

 

     

     

    

 

“Closing Date”
means the Business Day on which all of the Transaction Documents have been executed and delivered by the applicable parties thereto,
and all conditions precedent to (i) the Purchasers’ obligation to pay the Subscription Amount at a Closing, and (ii) the
Company’s obligations to deliver the Securities to be issued and sold at such Closing, in each case, have been satisfied
or waived.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Company Counsel”
means Meitar Liquornik Geva Leshem Tal, Law Offices, 16 Abba Hillel Silver Road, Ramat Gan 5250608, Israel, Attn: David S. Glatt,
Adv., facsimile: (972) 3-610-3111.

 

“Companies
Law” shall have the meaning ascribed to such term in Section 3.1(e).

 

“Conversion
Date” means the date the Notes are converted to Ordinary Shares pursuant to the Note.

 

“Conversion
Price” shall have the meaning ascribed to such term in the Note.

 

“Conversion
Shares” means the Company’s Ordinary Shares issuable upon conversion of the Note and interest in accordance with
the terms of the Note.

 

“Disclosure
Schedules” means the Disclosure Schedules of the Company delivered concurrently herewith.

 

“Disqualification
Event” shall have the meaning ascribed to such term in Section 3.1(gg).

 

“End Date”
shall mean the date the Notes are no longer outstanding via mandatory conversion as described in the Note or indefeasible repayment
of all sums due thereunder.

 

“Escrow Agent”
means G&M.

 

“Escrow Agreement”
means the escrow agreement to be employed in connection with the sale of the Securities, a copy of which is annexed hereto as Exhibit
B.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Exempt Issuance”
means the issuance of (a) Ordinary Shares and options (including Ordinary Shares issued upon exercise of options or other convertible
instruments) to officers, directors, employees, or consultants and advisors of the Company after the Closing Date in the amounts
and on the terms set forth on Schedule 3.1(g), (b) securities upon the exercise or exchange of or conversion of Securities
issued hereunder (subject to adjustment for forward and reverse stock splits and the like that occur after the date hereof) and/or
other securities exercisable or exchangeable for or convertible into Ordinary Shares or Ordinary Shares Equivalents issued and
outstanding on the date of this Agreement, provided that such securities and any term thereof have not been amended since the date
of this Agreement to increase the number of such securities or to decrease the issue price, exercise price, exchange price or conversion
price of such securities and which securities and the principal terms thereof are set forth on Schedule 3.1(g), and which
do not increase the amount of Ordinary Shares on a Fully Diluted Basis, (c) Ordinary Shares issuable upon the conversion of the
Company’s Series A Preferred Shares in accordance with the Amended Articles, (d) securities issuable in connection with the
Qualified Offering, (e) additional Notes which may be issued on or before the Termination Date to Exigent as a Purchaser hereunder
in the principal amount of up to $1,500,000 on the same terms and conditions as the Offering and when issued and paid for will
be deemed to constitute part of the Offering, including with respect to security interests ranking pari passu among all
Purchasers (including Exigent) except that (i) Exigent will receive the registration rights under the Exigent Registration Rights
Agreement, and (ii) the Conversion Price (as defined in the Note) (i.e. pre-Qualified Offering, pre-money valuation of the Company)
shall be $27.30, and (f) securities upon the exercise or exchange of or conversion of the additional Notes under subsection (e)
above.

 

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“Exigent”
means Exigent Management Ltd., an Israeli limited liability private company, maintaining an office at 5 Wyndham Deedes St., Jerusalem,
Israel, and/or where it is apparent from the context, its Affiliates and/or funds, special purpose vehicles, accounts, or other
Persons who, directly or indirectly, control or manage, are controlled or managed by, or are under common control with, Exigent
Management Ltd.

 

“Exigent Option”
shall mean the rights available to Exigent as described in part (e) of the definition of Exempt Issuance.

 

“Exigent Registration
Rights Agreement” shall means the Exigent Registration Rights Agreement, dated the date hereof, by and among the Company
Exigent, , Eugene Saragnese and Reuven Raz, in the form of Exhibit E-2 attached hereto.

 

“FCPA”
means the Foreign Corrupt Practices Act of 1977, as amended.

 

“FDA”
shall have the meaning ascribed to such term in Section 3.1(ff).

 

“Financial
Statements” means the financial statements annexed hereto as Schedule 3.1(h).

 

“Fully-Diluted
Basis” means the assumption that all outstanding options, warrants or other convertible securities or instruments or
other rights to acquire Ordinary Shares or any other existing or future classes of share capital have been exercised or converted,
as applicable, in full, regardless of whether any such options, warrants, convertible securities or instruments or other rights
are then vested or exercisable or convertible in accordance with their terms.

 

“GAAP”
shall mean United States generally accepted accounting principles applied on a consistent basis.

 

“Indebtedness”
shall have the meaning ascribed to such term in Section 3.1(w).

 

“Intellectual
Property Rights” shall have the meaning ascribed to such term in Section 3.1(o).

 

“Legend Removal
Date” shall have the meaning ascribed to such term in Section 4.1(d).

 

“Legend Removal
Qualification Event” shall have the meaning ascribed to such term in Section 4.1(d).

 

“Liens”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Lockup Agreement”
shall have the meaning ascribed to such term in Section 4.16.

 

“Majority
in Interest” shall have the meaning ascribed to such term in Section 5.5.

 

“Material
Adverse Effect” shall have the meaning assigned to such term in Section 3.1(b).

 

“Material
Permits” shall have the meaning ascribed to such term in Section 3.1(m).

 

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“Maximum Rate”
shall have the meaning ascribed to such term in Section 5.17.

 

“Money Laundering
Laws” shall have the meaning ascribed to such term in Section 3.1(aa).

 

“Notes”
means the convertible notes, in the form of Exhibit A hereto.

 

“Ordinary
Shares” means the ordinary shares of the Company, NIS 0.01 par value per share, and any other class of securities into
which such securities may hereafter be reclassified or changed.

 

“Ordinary
Shares Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
acquire at any time Ordinary Shares, including, without limitation, any debt, preferred share, right, option, warrant or other
instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to
receive, Ordinary Shares.

 

“OFAC”
shall have the meaning ascribed to such term in Section 3.1(bb).

 

“Palladium”
means Palladium Capital Advisors LLC, having an address at 10 Rockefeller Plaza, Suite 909, New York, NY 10020.

 

“Palladium
Note” shall have the meaning ascribed to such term in Section 2.1(a).

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial
proceeding, such as a deposition, whether commenced or threatened.

 

“Purchaser
Counsel” shall mean Grushko & Mittman, P.C., 515 Rockaway Avenue, Valley Stream, New York 11581, facsimile: (212)
697-3575.

 

“Purchaser
Party” shall have the meaning ascribed to such term in Section 4.6.

 

“Purchaser
Registration Rights Agreement” shall means the Purchaser Registration Rights Agreement, dated the date hereof, among
the Company and the Purchasers (excluding Exigent), in the form of Exhibit E-1 attached hereto.

 

“Qualified
Offering” means the consummation of a firm commitment initial public offering of the Company’s Ordinary Shares
which has an initial closing (if more than one) not later than the later of (i) June 30, 2018, and (ii) six (6) months after the
first Closing Date, at which initial closing the Company receives not less than $7,000,000 of gross cash proceeds (not including
conversion of the Notes or any other outstanding instrument) at a pre-money valuation of the Company of not less than $50,000,000
on a Fully-Diluted Basis, in connection with which immediately upon the closing the Company’s Ordinary Shares including the
Conversion Shares are listed for trading on a Trading Market and the Ordinary Shares are registered pursuant to Section 12(b) or
Section 12(g) under the Exchange Act, and which offering is made pursuant to a prospectus included in a S-1 registration statement
filed with and declared effective by the Commission.

 

“Registration
Rights Agreements” shall mean the Purchaser Registration Rights Agreement and the Exigent Registration Rights Agreement.

 

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“Regulation
D” means Regulation D under the Securities Act.

 

“Required
Approvals” shall have the meaning ascribed to such term in Section 3.1(e).

 

“Required
Minimum” means, as of any date, the maximum aggregate number of Ordinary Shares then issued or potentially issuable in
the future pursuant to the Transaction Documents, including but not limited to any Underlying Shares issuable upon conversion in
full of the Notes and the interest that could accrue through six months after the issue date of the Notes.

 

“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Securities”
means the Notes and the Underlying Shares.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Security
Agreements” means the Security Agreement (Floating Charge) and Security Agreement (Fixed Charge) dated as of the date
of this Agreement, copies of which are annexed hereto as Exhibit C.

 

“Subscription
Amount” means, as to each Purchaser, the aggregate amount to be paid for the Notes purchased hereunder as specified below
such Purchaser’s name on the signature page of this Agreement and next to the heading “Subscription Amount,”
in United States dollars and in immediately available funds.

 

“Subsidiary”
means with respect to any entity at any date, any direct or indirect corporation, limited or general partnership, limited liability
company, trust, estate, association, joint venture or other business entity of which more than 50% of (i) the outstanding
capital stock having (in the absence of contingencies) ordinary voting power to elect a majority of the board of directors or other
managing body of such entity, (ii) in the case of a partnership or limited liability company, the interest in the capital
or profits of such partnership or limited liability company, or (iii) in the case of a trust, estate, association, joint venture
or other entity, the beneficial interest in such trust, estate, association or other entity business is, at the time of determination,
owned or controlled directly or indirectly through one or more intermediaries, by such entity. Representations, undertakings and
obligations set forth in this Agreement shall be applicable only to Subsidiaries which exist or have existed at the applicable
and relevant time.

 

“Termination
Date” shall have the meaning ascribed to such term in Section 2.1.

 

“Trading Day”
means a day on which the principal Trading Market is open for trading.

 

“Trading Market”
means any of the following markets or exchanges: the NYSE MKT LLC, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq
Global Select Market, and the New York Stock Exchange (or any successors to any of the foregoing).

 

“Transaction
Documents” means this Agreement, the Notes, the Escrow Agreement, each Lockup Agreement, the Registration Rights Agreements,
the Security Agreements, and all exhibits and schedules thereto and hereto.

 

“Transfer
Agent” means the transfer agent for the Ordinary Shares, and any successor transfer agent of the Company. As of the Closing
Date, the Company is the Transfer Agent.

 

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“Underlying
Shares” means the Ordinary Shares issued and issuable upon conversion of the Notes and payment of interest on the Notes
in accordance with the terms of the Notes.

 

“Unlegended
Shares” shall have the meaning ascribed to such term in Section 4.1(d).

 

ARTICLE II.

PURCHASE AND SALE

 

2.1 Closing.
On the Closing Dates, upon the terms and subject to the conditions set forth herein, the Company agrees to sell, through Palladium,
and the Purchasers, severally and not jointly, agree to purchase, an aggregate of $4,320,000 (inclusive of the Palladium Note,
as defined below) of principal amount of Notes, each such purchase and sale being a “Closing”. An additional
Note representing the placement agent fee payable to Palladium as described on Schedule 3.1(r) will be issued on the Closing
Date for the placement agent fee payable to Palladium with respect to the Closing (the “Palladium Note”). The
Note issuable to Palladium will be held by the Escrow Agent and delivered to Palladium only upon the closing of the Qualified Offering.
Each Purchaser shall deliver to the Company such Purchaser’s Subscription Amount, and the Company shall deliver to each Purchaser
its respective Note, and the Company and each Purchaser shall deliver the other items set forth in Section 2.2 deliverable at a
Closing. Upon satisfaction of the covenants and conditions set forth in Sections 2.2 and 2.3, each Closing shall occur at the offices
of Purchaser Counsel or such other location as the parties shall mutually agree. Notwithstanding anything herein to the contrary,
the initial Closing must take place on or before December 27, 2017. The Closing Date for the final Closing if Exigent elects to
exercise any portion of the Exigent option described in item (e) of the definition of Exempt Issuance, shall occur on or before
March 5, 2018 (the “Termination Date”). With respect to any Closing not held on or before the Termination Date,
the Escrow Agent shall cause all subscription documents and funds, if any, to be returned, without interest or deduction to each
prospective Purchaser. Notwithstanding the date of any Closing subsequent to the initial Closing, all time effective clauses in
the Transaction Documents shall commence on the initial Closing Date and the Transaction Documents will be deemed modified mutatis
mutandis in connection with such subsequent Closings, if any, including with respect to the exercise of the Exigent Option.
The Maturity Date (as defined in the Notes) of the Notes issued at all Closings subsequent to the initial Closing shall be the
same as the Maturity Date of the Notes issued at the initial Closing. No sale of Notes may be made pursuant to this Agreement except
pursuant to the Company’s agreement with Palladium as placement agent pursuant to a written agreement between the Company
and Palladium. The Exigent Option may be exercised, in one or more occasions, only after ten Business Days’ prior notice
to the Purchasers who must receive details of the exercise, the principal amount in respect of which the Note is to be issued,
and copies of the Transaction Documents to be employed therewith; with respect to Notes issuable to Exigent hereunder, Exhibit
A shall be amended to reflect the Conversion Price per item (e)(2) of the definition of “Exempt Issuance”.

 

THE GROSS PROCEEDS
TO THE COMPANY OF THE INITIAL CLOSING SHALL BE $4,000,000.

 

2.2 Deliveries.

 

(a) On or prior to a
Closing Date, the Company shall deliver or cause to be delivered to each Purchaser the following:

 

(i) this Agreement
duly executed by the Company with the schedules and exhibits thereto current as of each such Closing Date;

 

(ii) (x) in
the initial Closing, the Security Agreements duly executed by the Company, and (y) in each Closing subsequent to the initial Closing,
a duly executed amendment to each Security Agreement to include such Purchaser as a “Lender” thereunder;

 

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(iii) a Note
with a principal amount equal to such Purchaser’s Subscription Amount registered in the name of such Purchaser;

 

(iv) a legal
opinion of Company Counsel, substantially in the form of Exhibit D attached hereto;

 

(v) the Escrow
Agreement duly executed by the Company and the Escrow Agent;

 

(vi) the Purchaser
Registration Rights Agreement (or, if the Purchaser is Exigent, the Exigent Registration Rights Agreement) duly executed by the
Company;

 

(vii)
Lockup Agreements from each Person identified on Schedule 4.16;

 

(viii)
a certificate of the chief executive officer and chief financial officer of the Company, dated as of each Closing Date,
in which such officers shall certify that the conditions set forth in Section 2.3(b) have been fulfilled, and in connection
with Closings following the initial Closing, ratifying the terms of this Agreement;

 

(ix)
a certificate signed by the chief executive officer and chief financial officer of the Company of the Company containing
copies of the text of the resolutions by which the corporate and shareholder actions on the part of the Company and its shareholders
necessary to approve this Agreement and the other Transaction Documents and the transactions and actions contemplated hereby and
thereby, and certifying to the Purchasers that such resolutions and approvals were duly adopted and have not been amended or rescinded;
and

 

(x)
a copy of the Company’s shareholders register accurate as of immediately before the Closing certified by a senior
officer of the Company.

 

(b) On or
prior to a Closing Date, each Purchaser shall deliver or cause to be delivered to the Escrow Agent the following:

 

(i) this Agreement
duly executed by such Purchaser;

 

(ii) Reserved.

 

(iii) such
Purchaser’s Subscription Amount by wire transfer or as otherwise permitted under the Escrow Agreement, to the Escrow Agent;

 

(iv) the Purchaser Registration Rights Agreement
(or, if the Purchaser is Exigent, the Exigent Registration Rights Agreement) duly executed by such Purchaser; and

 

(v) the Escrow Agreement duly executed by
such Purchaser.

 

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2.3 Closing Conditions.

 

(a) The obligations
of the Company hereunder to effect a Closing are subject to the following conditions being met:

 

(i) the accuracy
in all material respects (determined without regard to any materiality, Material Adverse Effect or other similar qualifiers therein,
except for any such representations and warranties qualified by reference to Material Adverse Effect) on the Closing Date of the
representations and warranties of the Purchasers purchasing Securities on such Closing Date contained herein (unless as of a specific
date therein in which case they shall be accurate as of such date);

 

(ii) all obligations,
covenants and agreements of each Purchaser purchasing Securities on such Closing Date required to be performed at or prior to the
Closing Date shall have been performed in all material respects; and

 

(iii) the delivery
by each Purchaser of the items set forth in Section 2.2(b) of this Agreement.

 

(b) The respective
obligations of a Purchaser hereunder to effect a Closing, unless waived by such Purchaser, are subject to the following conditions
being met:

 

(i) the accuracy
in all material respects (determined without regard to any materiality, Material Adverse Effect or other similar qualifiers therein,
except for any such representations and warranties qualified by reference to Material Adverse Effect) on the Closing Date of the
representations and warranties of the Company contained herein (unless as of a specific date therein in which case they shall be
accurate as of such date);

 

(ii) all obligations,
covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been performed;

 

(iii) the Escrow
Agent shall have received executed signature pages to this Agreement with respect to the Subscription Amounts for which such Closing
is to occur;

 

(iv) the delivery
by the Company of the items set forth in Section 2.2(a) of this Agreement;

 

(v) there shall
have been no Material Adverse Effect with respect to the Company since the date hereof; and

 

(vi) from the
date hereof to each respective Closing Date, trading in securities in the United States generally as reported by Bloomberg L.P.
shall not have been suspended or limited, nor shall a banking moratorium have been declared either by the United States or New
York State authorities nor shall there have occurred any material outbreak or escalation of hostilities or other national or international
calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in each case, in the
reasonable judgment of such Purchaser, makes it impracticable or inadvisable to purchase the Securities at the Closing.

 

2.4 Purchaser’s
Right To Terminate. Anything in any of the Transaction Documents to the contrary notwithstanding, each Purchaser has the right
to demand and receive back from the Escrow Agent and Company such Purchaser’s Subscription Amount and Transaction Documents
at any time until a Closing takes place in connection with such Subscription Amount and Transaction Documents. UNDER NO CIRCUMSTANCES
WILL THE PURCHASER’S SUBSCRIPTION AMOUNT BE DELIVERED TO OR UNDER THE CONTROL OR AUTHORITY OF ANY PLACEMENT AGENT OR BROKER,
INCLUDING BUT NOT LIMITED TO PALLADIUM.

 

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ARTICLE III.

REPRESENTATIONS AND WARRANTIES

 

3.1 Representations
and Warranties of the Company. Except as set forth in the Disclosure Schedules, which Disclosure Schedules shall be deemed
a part hereof and shall qualify a representation made herein to which it refers and only such other representation to the extent
such Disclosure Schedule cross-references such particular representation, provided, however, that any information disclosed in
the Disclosure Schedules under any section number, either with or without reference to a specific representation or warranty contained
in this Agreement, whether or not referenced in other sections or other places, shall be deemed to be disclosed and incorporated
into any other section number of, or any other representation or warranty contained in, this Agreement, to the extent the relevance
of such disclosure is reasonably apparent on its face, the Company hereby makes the following representations and warranties to
each Purchaser as of the date hereof and each Closing Date unless as of a specific date therein, in which case they shall be accurate
as of such date:

 

(a) Subsidiaries.
All of the direct and indirect subsidiaries of the Company and the Company’s ownership interests therein as of the date of
this Agreement are set forth on Schedule 3.1(a). The Company owns, directly or indirectly, all of the capital stock or other
equity interests of each Subsidiary free and clear of any Liens, and all of the issued and outstanding shares of capital stock
of each Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive and similar rights to subscribe
for or purchase securities. If the Company has no Subsidiaries relevant to any component of this Agreement as of a particular date,
then such reference shall not be applicable. As of the date of this Agreement and the initial Closing Date the Company’s
only Subsidiary is MedyMatch Inc., a Delaware corporation.

 

(b) Organization
and Qualification. The Company and each Subsidiary is an entity duly incorporated or otherwise organized, validly existing
and, with respect to MedyMatch, Inc., in good standing under the laws of the jurisdiction of its incorporation or organization,
each with the requisite power and authority to own and use its properties and assets and to carry on its business as currently
conducted. Neither the Company nor any Subsidiary is in violation nor default of any of the provisions of its respective articles
of association and articles of incorporation, bylaws or other organizational or charter documents. Each of the Company and the
Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction
in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure
to be so qualified or in good standing, as the case may be, would not reasonably be expected to result in: (i) a material adverse
effect on the legality, validity or enforceability of any Transaction Document, (ii) a material adverse effect on the results of
operations, assets, business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries, taken as a whole,
(iii) a material adverse effect on the Company’s ability to perform on a timely basis its material obligations under any
Transaction Document, or (iv) the occurrence of a Disqualification Event (any of (i), (ii), (iii) or (iv), (each a “Material
Adverse Effect”) and, no Proceeding has been instituted in any jurisdiction revoking, limiting or curtailing or seeking
to revoke, limit or curtail such power and authority or qualification.

 

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(c) Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder.
The execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by
it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company
and no further action is required by the Company, the Board of Directors or the Company’s shareholders and creditors in connection
herewith or therewith other than in connection with the Required Approvals and except those filings required to be made with the
Commission and state agencies after the Closing Date. This Agreement and each other Transaction Document to which it is a party
has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof
and thereof, will constitute the valid and binding obligations of the Company enforceable against the Company in accordance with
their terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium
and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies, and (iii) insofar as indemnification
and contribution provisions may be limited by applicable law.

 

(d) No Conflicts.
The execution, delivery and performance by the Company of this Agreement and the other Transaction Documents, the issuance and
sale of the Securities and the consummation by it of the transactions contemplated hereby and thereby to which it is a party do
not and will not: (i) conflict with or violate any provision of the Company’s or any Subsidiary’s articles of association
or certificate of incorporation, bylaws or other organizational or charter documents, (ii) conflict with, or constitute a default
(or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Lien upon any
of the properties or assets of the Company or any Subsidiary, or give to others any rights of participation, first refusal, termination,
amendment, acceleration, adjustment, repricing or cancellation (with or without notice, lapse of time or both) of, any agreement,
credit facility, debt or other instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding to which
the Company or any Subsidiary is a party or by which any property or asset of the Company or any Subsidiary is bound or affected,
or (iii) conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction
of any court or governmental authority to which the Company or a Subsidiary is subject (including Israeli, U.S. federal and state
securities laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected.

 

(e) Filings, Consents
and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or
make any filing or registration with, any court or Israeli, U.S. federal, state, local, foreign or other governmental authority,
its shareholders, creditors or other Person in connection with the execution, delivery and performance by the Company of the Transaction
Documents, which has not been obtained or which will not have been obtained prior to the initial Closing other than: (i) the filing
of Forms D with the Commission, (ii) the filings to be made pursuant to the Registration Rights Agreements, and (iii) such filings
as are required to be made under the Israeli Companies Law – 1999 and the regulations promulgated thereunder (the “Companies
Law”) or applicable securities laws (collectively, the “Required Approvals”). The Company represents
that neither the Company nor any Subsidiary nor licensor of any Intellectual Property Rights to the Company requires or will require
the approval of the Israel Innovation Authority (formerly the Office of the Chief Scientist) to enter into and fulfill the Company’s
obligations pursuant to the Transaction Documents.

 

(f) Issuance of
the Securities. The Securities are duly authorized and, when issued and paid for in accordance with the applicable Transaction
Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens other than those created
by the Purchaser. The Company has prior to the date hereof reserved from its duly authorized share capital a number of Ordinary
Shares for issuance of the Underlying Shares at least equal to the Required Minimum.

 

    - 10 -

     

    

 

(g) Capitalization.
The capitalization of the Company is as set forth in Schedule 3.1(g). Except as disclosed on Schedule 3.1(g), no Person
has any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions
contemplated by the Transaction Documents. Except as disclosed on Schedule 3.1(g), there are no outstanding options, employee
or incentive share option plans warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating
to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to
subscribe for or acquire any Ordinary Shares, or contracts, commitments, understandings or arrangements by which the Company or
any Subsidiary is or may become bound to issue additional Ordinary Shares or Ordinary Shares Equivalents. There is no share option
plan in effect as of the Closing Date, except as disclosed on Schedule 3.1(g) and all grants of options to employees by
the Company have been made in compliance and conformity with the option plan annexed hereto as Exhibit I. Except as set
forth on Schedule 3.1(g), the issuance and sale of the Securities will not obligate the Company to issue Ordinary Shares
or other securities to any Person (other than the Purchasers) and will not result in a right of any holder of Company securities
to adjust the exercise, conversion, exchange or reset price under any of such securities. All of the outstanding shares of the
share capital of the Company are duly authorized, validly issued, fully paid and nonassessable, have been issued in material compliance
with all Israeli, U.S. federal and state securities laws, and none of such outstanding shares was issued in violation of any preemptive
rights or similar rights to subscribe for or purchase securities. No further approval or authorization of any shareholder, the
Board of Directors or any other Person is required for the issuance and sale of the Securities. Except as disclosed on Schedule
3.1(g), there are no shareholders agreements, voting agreements or other similar agreements with respect to the Company’s
share capital to which the Company is a party or, to the knowledge of the Company, between or among any of the Company’s
shareholders. As of immediately prior to the Closing, the authorized share capital of the Company shall be NIS 100,000 divided
into the amount and type of equity set forth in the Amended Articles, and the issued and outstanding share capital of the Company
shall be divided into the amount and type of equity set forth in Schedule 3.1(g). A copy of the Company’s shareholder
register certified as accurate by a senior officer of the Company is annexed hereto as Exhibit J. Such register is true
and accurate as of the date of this Agreement.

 

(h) Financial Statements.
Annexed hereto as Schedule 3.1(h) is audited and unaudited financial information of the Company (“Financial Statements”).
The audited Financial Statements have been prepared in accordance with GAAP. The Financial Statements fairly present in all material
respects the financial position of the Company and its consolidated Subsidiaries as of and for the dates thereof and the results
of operations and cash flows for the periods then ended, subject to normal year-end adjustments and inclusion of footnotes which
would be required pursuant to GAAP. The Financial Statements include balance sheets as of each of the two most recent fiscal year
ends and as of a month end immediately preceding the relevant Closing date and income statements as of the same dates. The Company
is not a successor to any other Person for financial accounting purposes and will not be required to include or consolidate its
financial statements for GAAP purposes or any securities or other laws and rules, with financial statements or financial information
of any other Person.

 

(i) Material Changes;
Undisclosed Events, Liabilities or Developments. Since September 30, 2017, except as disclosed on Schedule 3.1(i): (i)
there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse
Effect, (ii) the Company has not incurred any material liabilities (contingent or otherwise) other than trade payables and accrued
expenses incurred in the ordinary course of business consistent with past practice, (iii) the Company has not altered its method
of accounting, (iv) the Company has not declared or made any dividend or distribution of cash or other property to its shareholders
or purchased, redeemed or made any agreements to purchase or redeem any shares of its share capital, and (v) the Company has not
issued any equity securities to any officer, director or Affiliate.

 

    - 11 -

     

    

 

(j) Litigation.
There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company,
threatened against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator,
governmental or administrative agency or regulatory authority (Israeli, U.S. federal, state, county, local or foreign) (collectively,
an “Action”) which (i) adversely affects or challenges or could affect or challenge the legality, validity or
enforceability of any of the Transaction Documents or the Securities, or (ii) could, if there were an unfavorable decision, have
or reasonably be expected to result in a Material Adverse Effect. Neither the Company nor any Subsidiary, nor, to the knowledge
of the Company, any director or officer thereof, is or has ever been the subject of any Action involving a claim of violation of
or liability under Israeli, U.S. federal or state securities laws or a claim of breach of fiduciary duty.

 

(k) Labor Relations.
No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees of the Company, which
could reasonably be expected to result in a Material Adverse Effect. None of the Company’s or its Subsidiaries’ employees
is a member of a union that relates to such employee’s relationship with the Company or such Subsidiary, and neither the
Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe
that their relationships with their employees are good. To the knowledge of the Company, no executive officer of the Company or
any Subsidiary, is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure
or proprietary information agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant
in favor of any third party, and the continued employment of each such executive officer does not subject the Company or any of
its Subsidiaries to any liability with respect to any of the foregoing matters. The Company and its Subsidiaries are in compliance
with all Israeli, U.S. federal, state, local and foreign laws and regulations relating to employment and employment practices,
terms and conditions of employment and wages and hours, except where the failure to be in compliance would not, individually or
in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

(l) Compliance.
Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not been
waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the
Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture,
loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is
bound (whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree or order of any
court, arbitrator or other governmental authority, or (iii) is or has been in violation of any statute, rule, ordinance or regulation
of any governmental authority, including without limitation all Israeli, U.S. federal, state and local and foreign laws relating
to taxes, environmental protection, occupational health and safety, product quality and safety and employment and labor matters,
except in each case as would not reasonably be expected to result in a Material Adverse Effect.

 

(m) Regulatory Permits.
The Company and the Subsidiaries possess all certificates, authorizations and permits issued by the appropriate Israeli, U.S. federal,
state, local or foreign regulatory authorities necessary to conduct their respective businesses as presently conducted, and as
contemplated to be conducted, except where the failure to possess such permits could not reasonably be expected to result in a
Material Adverse Effect (“Material Permits”), and neither the Company nor any Subsidiary has received any notice
of proceedings relating to the revocation or modification of any Material Permit.

 

(n) Title to Assets.
Except as would not reasonably be expected to result in a Material Adverse Effect, the Company and the Subsidiaries have good and
marketable title in all personal property owned by them that is material to the business of the Company and the Subsidiaries, in
each case free and clear of all Liens, except for (i) Liens as do not materially affect the value of such property and do not materially
interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries, and (ii) Liens for the
payment of Israeli, U.S. federal, state or other taxes, for which appropriate reserves have been made and, the payment of which
is neither delinquent nor subject to penalties. The Company and Subsidiaries do not own any real property. Any real property and
facilities held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases
with which the Company and the Subsidiaries are in material compliance. The Company occupies office space pursuant to a lease agreement
pursuant to which the Company is not in default.

 

    - 12 -

     

    

 

(o) Intellectual
Property.

 

(i) The term
“Intellectual Property Rights” includes:

 

1. the name of the Company and
each Subsidiary, all fictional business names, trading names, registered and unregistered trademarks, service marks, and applications
of the Company and each Subsidiary (collectively, “Marks’’);

 

2. all patents and patent applications
(collectively, “Patents’’);

 

3. all copyrights in both unpublished
works and published works of the Company and each Subsidiary (collectively, “Copyrights”);

 

4. all know-how, trade secrets,
confidential information, software, technical information, data, process technology, plans, drawings, and blue prints (collectively,
“Trade Secrets’’); owned, used, or licensed by the Company and each Subsidiary as licensee or licensor; and

 

5. the license or right to directly
or indirectly use any of the foregoing, whether perpetually or for a fixed term, whether or not subject to defeasement, and whether
or not reduced to writing or otherwise memorialized.

 

(ii) The term
“Registered Intellectual Property Rights” means all Intellectual Property Rights that are registered, filed,
or issued under the authority of any governmental authority, including all issued patents, registered copyrights and registered
trademarks and all applications for any of the foregoing.

 

(iii) Agreements.
Schedule 3.1(o) contains a complete and accurate list and description of all material Registered Intellectual Property Rights
and of all contracts (including license agreements and oral agreements but excluding intellectual property assignment or undertaking
executed in connection with employment agreements and pursuant to which Company employees assigned to the Company Intellectual
Property Rights developed by such employees pursuant to their employment by the Company) relating to the Intellectual Property
Rights to which the Company is a party or by which the Company is bound, except for any license implied by the sale of a product
and perpetual, paid-up licenses for commonly available software programs with a value of less than $10,000 under which the Company
is the licensee. There are no outstanding and, to Company’s knowledge, no threatened disputes or disagreements with respect
to any such agreement. Exhibit G hereto consists of copies of all such agreements, which are in full force and effect and
no event of default nor an event, which with the giving of notice or the passage of time could become an event of default, exists
thereunder.

 

(iv) Know-How
Necessary for the Business. The Intellectual Property Rights are all those necessary for the operation of the Company’s
businesses as it is currently conducted or currently proposed to be conducted. The Company owns or possesses adequate and enforceable
rights to use, without payment to a third party, all of such Intellectual Property Rights, free and clear of all liens, security
interests, charges, encumbrances, equities, and other adverse claims. To the Company’s knowledge, no employee of the Company
has entered into any contract that restricts or limits in any way the scope or type of work in which the employee may be engaged
or requires the employee to transfer, assign, or disclose information concerning his work to anyone other than of the Company.

 

    - 13 -

     

    

 

(v) Patents.
The Company is the owner of or licensee of all right, title and interest in and to each of the Patents, free and clear of all Liens
and other adverse claims other than as set forth in Schedule 3.1(o). All of the issued Patents are currently in compliance
with formal legal requirements (including payment of filing, examination, and maintenance fees and proofs of working or use), are
valid and enforceable, and are not subject to any maintenance fees or taxes or actions falling due within ninety days after the
Closing Date except in each case as would not reasonably be expected to result in a Material Adverse Effect. No Patent has been
or is now involved in any interference, reissue, reexamination, or opposition proceeding. To the Company’s knowledge: (1)
there is no potentially interfering patent or patent application of any third party, and (2) no Patent is infringed or has been
challenged or threatened in any way. To the Company’s knowledge, none of the products manufactured and sold, nor any process
or know-how used, by the Company infringes or is alleged to infringe any patent or other proprietary right of any other Person.

 

(vi) Trademarks.
The Company is the owner of all right, title, and interest in and to each of the Marks, free and clear of all Liens and other adverse
claims other than as set forth in Schedule 3.1(o). All Marks that have been registered with the United States Patent and
Trademark Office are currently in compliance with all formal legal requirements (including the timely post-registration filing
of affidavits of use and incontestability and renewal applications), are valid and enforceable, and are not subject to any maintenance
fees or taxes or actions falling due within ninety days after the Closing Date except in each case as would not reasonably be expected
to result in a Material Adverse Effect. No Mark has been or is now involved in any opposition, invalidation, or cancellation and,
to the Company’s knowledge, no such action is threatened with respect to any of the Marks. To the Company’s knowledge
no Mark is infringed or has been challenged or threatened in any way. To the Company’s knowledge, none of the Marks used
by the Company infringes or is alleged to infringe any trade name, trademark, or service mark of any third party.

 

(vii) Copyrights.
The Company is the owner of all right, title, and interest in and to each of the Copyrights, free and clear of all Liens and other
adverse claims. All the Copyrights have been registered and are currently in compliance with formal requirements, are valid and
enforceable, and are not subject to any maintenance fees or taxes or actions falling due within ninety days after the date of the
Closing except in each case as would not reasonably be expected to result in a Material Adverse Effect. To the Company’s
knowledge, no Copyright is infringed or has been challenged or threatened in any way. To the Company’s knowledge, none of
the subject matter of any of the Copyrights infringes or is alleged to infringe any copyright of any third party or is a derivative
work based on the work of a third party.

 

(viii) Trade
Secrets. With respect to each Trade Secret, the documentation relating to such Trade Secret is current, accurate, and sufficient
in detail and content to identify and explain it and to allow its full and proper use without reliance on the knowledge or memory
of any individual. The Company has taken all reasonable precautions to protect the secrecy, confidentiality, and value of its Trade
Secrets. To the Company’s knowledge, the Trade Secrets have not been used, divulged, or appropriated either for the benefit
of any Person (other the Company) or to the detriment of the Company, except in each case as would not reasonably be expected to
result in a Material Adverse Effect. No Trade Secret is subject to any adverse claim or has been challenged in writing.

 

    - 14 -

     

    

 

(p) Insurance.
The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and
in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged. Neither the
Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when
such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without
a significant increase in cost.

 

(q) Transactions
With Affiliates and Employees. Except as set forth in the Financial Statements and Transaction Documents, none of the officers
or directors of the Company or any Subsidiary and, to the knowledge of the Company, none of the employees of the Company or any
Subsidiary is presently a party to any transaction with the Company or any Subsidiary (other than for services as employees, officers
and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing
for rental of real or personal property to or from, providing for the borrowing of money from or lending of money to or otherwise
requiring payments to or from any officer, director or such employee or, to the knowledge of the Company, any entity in which any
officer, director, or any such employee has a substantial interest or is an officer, director, trustee, shareholder, member or
partner, except as disclosed on Schedule 3.1(q).

 

(r) Certain Fees.
Except as set forth on Schedule 3.1(r) with respect to Palladium Capital Advisors LLC, no brokerage, finder’s fees,
commissions or due diligence fees are or will be payable by the Company or any Subsidiary to any broker, financial advisor or consultant,
finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by the Transaction
Documents. The Purchasers shall have no obligation with respect to any such fees or with respect to any claims made by or on behalf
of other Persons for fees of a type contemplated in this Section 3.1(r) that may be due in connection with the transactions contemplated
by the Transaction Documents.

 

(s) Investment
Company. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Securities, will
not be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as
amended. The Company shall conduct its business in a manner so that it will not become an “investment company” subject
to registration under the Investment Company Act of 1940, as amended. The Company is not aware of any person (other than Palladium
Capital Advisors LLC) that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection
with the sale of any Securities.

 

(t) Registration
Rights. No Person has any right to cause the Company or any Subsidiary to effect the registration under the Securities Act
of any securities of the Company or any Subsidiary, except for the Purchasers pursuant to the Purchaser Registration Rights Agreement
and Exigent pursuant to the Exigent Registration Rights Agreement. No securities will be included in the registration statement
to be filed on behalf of the Purchasers pursuant to the Purchaser Registration Rights Agreement except on behalf of the Purchasers,
not including Exigent. No securities will be included in the registration statement to be filed on behalf of Exigent pursuant to
the Exigent Registration Rights Agreement except on behalf of Exigent.

 

(u) Application
of Takeover Protections. As of the Closing Date, the Company will have taken all necessary action, if any, is so required in
order to render inapplicable as of the Closing Date and thereafter any control share acquisition, business combination, poison
pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the Company’s Articles
of Association or the laws of Israel or the State of Delaware (other than mandatorily applicable provisions of applicable law which
are not subject to optional waiver or opt out), as applicable, that is or could become applicable to the Purchasers as a result
of the Purchasers and the Company fulfilling their obligations or exercising their rights under the Transaction Documents, including
without limitation as a result of the Company’s issuance of the Securities and the Purchasers’ ownership of the Securities.

 

    - 15 -

     

    

 

(v) Disclosure.
The Company has fully provided each Purchaser with all the information that such Purchaser has requested for deciding whether to
purchase the Securities being purchased by it. All of such information furnished by or on behalf of the Company to the Purchasers
regarding the Company and its Subsidiaries, their respective businesses and the transactions contemplated hereby, including the
Disclosure Schedules to this Agreement, does not contain any untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.
Except as expressly set forth in the Transaction Documents, the Company and the Subsidiaries make no other representation or warranty,
expressed or implied, in connection with this Agreement. The Company acknowledges and agrees that no Purchaser makes or has made
any representations or warranties with respect to the transactions contemplated hereby other than those specifically set forth
in Section 3.2.

 

(w) Solvency and
Indebtedness. Based on the consolidated financial condition of the Company as of the Closing Date, and the Company’s
good faith estimate of the fair market value of its assets, after giving effect to the receipt by the Company of the proceeds from
the sale of the Securities hereunder the current cash flow of the Company, together with the proceeds the Company would receive,
were it to liquidate all of its assets, after taking into account all anticipated uses of the cash, would be sufficient to pay
all amounts on or in respect of its liabilities when such amounts are required to be paid. The Company does not intend to incur
debts beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on
or in respect of its debt). The Company has no knowledge of any facts or circumstances which lead it to believe that it will file
for reorganization or liquidation under the bankruptcy or reorganization laws of any jurisdiction within one year from the Closing
Date. Except as set forth in Schedule 3.1(w) hereto, the Company Financial Statements and Schedule 3.1(i) set forth
all outstanding liens secured and unsecured Indebtedness of the Company and any Subsidiary, or for which the Company or any Subsidiary
has commitments. For the purposes of this Agreement, “Indebtedness” means (y) any liabilities for borrowed money
or amounts owed in excess of $250,000 in the aggregate and (z) the present value of any lease payments in excess of $250,000 due
under leases required to be capitalized in accordance with generally accepted accounting principles. Neither the Company nor any
Subsidiary is in default with respect to any Indebtedness.

 

(x) Tax Status.
Except for matters that would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect,
the Company and its Subsidiaries each (i) has made or filed all Israeli, U.S. federal, state and local income and all foreign income
and franchise tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii) has paid all taxes
and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports
and declarations and (iii) has set aside on its books provision reasonably adequate for the payment of all material taxes for periods
subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount
claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company or of any Subsidiary know of no
basis for any such claim.

 

(y) Foreign Corrupt
Practices. Neither the Company nor any Subsidiary, nor to the knowledge of the Company, any agent or other person acting on
behalf of the Company or any Subsidiary, has: (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment
or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic
government officials or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed
to disclose fully any contribution made by the Company or any Subsidiary (or made by any person acting on its behalf of which the
Company is aware) which is in violation of law or (iv) violated in any material respect any provision of FCPA.

 

    - 16 -

     

    

 

(z) Acknowledgment
Regarding Purchasers’ Purchase of Securities. The Company acknowledges and agrees that each of the Purchasers is acting
solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated
thereby. The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company (or in
any similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any advice given
by any Purchaser or any of their respective representatives or agents in connection with the Transaction Documents and the transactions
contemplated thereby is merely incidental to the Purchasers’ purchase of the Securities. The Company further represents to
each Purchaser that the Company’s decision to enter into this Agreement and the other Transaction Documents has been based
solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives.

 

(aa) Money Laundering.
Except for matters that would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect,
the operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with applicable financial
record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, applicable
money laundering statutes and applicable rules and regulations thereunder and pursuant to Israeli law (collectively, the “Money
Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body
or any arbitrator involving the Company or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge
of the Company or any Subsidiary, threatened.

 

(bb) Office of
Foreign Assets Control. Neither the Company nor any Subsidiary nor, to the Company’s knowledge, any director, officer, agent,
employee or Affiliate of the Company is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control
of the U.S. Treasury Department (“OFAC”).

 

(cc) Private Placement.
Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2, no registration under the
Securities Act is required for the offer and sale of the Securities by the Company to the Purchasers as contemplated hereby.

 

(dd) No General
Solicitation or Integration. To the best knowledge of the Company, neither the Company nor any person acting on behalf of the
Company has offered or sold any of the Securities by any form of general solicitation or general advertising. To the best knowledge
of the Company, the Company has offered the Securities for sale only to the Purchasers and who are “accredited investors”
within the meaning of Rule 501 under the Securities Act.

 

(ee) Indebtedness
and Seniority. Except as set forth on the Company Financial Statements and Schedule 3.1(i), as of the Closing Date,
no Indebtedness, equity, or Ordinary Shares Equivalent is or will be senior to the Notes in right of payment, whether with respect
to interest or upon liquidation or dissolution, or otherwise, except for capital lease obligations which are senior only as to
the property covered thereby. On or before the initial Closing, any indebtedness outstanding under the CLA to Exigent and to Reuven
Raz and Eugene Saragnese will have been irrevocably converted to newly authorized and issued Series A Shares, par value NIS 0.01
each, of the Company in accordance with that certain Conversion and Series A Preferred Subscription Agreement of event date herewith
by and among Exigent, Eugene Saragnese and Reuven Raz, and the CLAs will have been terminated (except for such provisions surviving
termination, in accordance with the terms of the CLAs) and the security interests granted by the Company to Exigent, Eugene Saragnese
and Reuven Raz pursuant to their respective CLAs or any other agreement, irrevocably extinguished.

 

    - 17 -

     

    

 

(ff) FDA. There
is no pending, completed or, to the Company’s knowledge, threatened, action (including any lawsuit, arbitration, or legal or administrative
or regulatory proceeding, charge, complaint, or investigation) against the Company or any of its Subsidiaries, and none of the
Company or any of its Subsidiaries has received any notice, warning letter or other communication from the U.S. Food and Drug Administration
(“FDA”) or any other governmental entity, which (i) contests the premarket clearance, licensure, registration,
or approval of, the uses of, the distribution of, the manufacturing or packaging of, the testing of, the sale of, or the labeling
and promotion of any Pharmaceutical Product, (ii) withdraws its approval of, requests the recall, suspension, or seizure of, or
withdraws or orders the withdrawal of advertising or sales promotional materials relating to, any Pharmaceutical Product, (iii)
imposes a clinical hold on any clinical investigation by the Company or any of its Subsidiaries, (iv) enjoins production at any
facility of the Company or any of its Subsidiaries, (v) enters or proposes to enter into a consent decree of permanent injunction
with the Company or any of its Subsidiaries, or (vi) otherwise alleges any violation of any laws, rules or regulations by the Company
or any of its Subsidiaries, and which, either individually or in the aggregate, would reasonably be expected to have a Material
Adverse Effect. The Company has not been informed by the FDA that the FDA will prohibit the marketing, sale, license or use in
the United States of any product proposed to be developed, produced or marketed by the Company nor has the FDA expressed any concern
as to approving or clearing for marketing any product being developed or proposed to be developed by the Company.

 

(gg) No Disqualification
Events. None of the Company, any of its predecessors, any affiliated issuer, any director, executive officer, other officer
of the Company participating in the offering hereunder, any beneficial owner of 20% or more of the Company’s outstanding
voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under
the Securities Act) connected with the Company in any capacity at the time of sale (each, an “Issuer Covered Person”
and, together, “Issuer Covered Persons”) is subject to any of the “Bad Actor” disqualifications
described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”), except for a
Disqualification Event covered by Rule 506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any
Issuer Covered Person is subject to a Disqualification Event. The Company has complied, to the extent applicable, with its disclosure
obligations under Rule 506(e), and has furnished to the Purchasers a copy of any disclosures provided thereunder. The Company will
notify the Purchasers in writing, prior to the Closing Date of (i) any Disqualification Event relating to any Issuer Covered Person,
and (ii) any event that would, with the passage of time, become a Disqualification Event relating to any Issuer Covered Person.

 

(hh) Survival.
The foregoing representations and warranties shall survive the Closing Date.

 

3.2 Representations
and Warranties of the Purchasers. Each Purchaser, for itself and for no other Purchaser, hereby represents and warrants as
of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein):

 

(a) Organization;
Authority. Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing
under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability
company or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents
and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and
performance by such Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary
corporate, partnership, limited liability company or similar action, as applicable, on the part of such Purchaser. Each Transaction
Document to which it is a party has been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with
the terms hereof, will constitute the valid and legally binding obligation of such Purchaser, enforceable against it in accordance
with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium
and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies, and (iii) to the extent the indemnification
provisions contained in this Agreement may be limited by applicable law.

 

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(b) Understandings
or Arrangements. Such Purchaser understands that the Securities are “restricted securities” and have not been registered
under the Securities Act or any applicable state securities law and is acquiring the Securities as principal for its own account
and not with a view to or for distributing or reselling such Securities or any part thereof in violation of the Securities Act
or any applicable state securities law, has no present intention of distributing any of such Securities in violation of the Securities
Act or any applicable state securities law and has no direct or indirect arrangement or understandings with any other persons to
distribute or regarding the distribution of such Securities in violation of the Securities Act or any applicable state securities
law (this representation and warranty not limiting such Purchaser’s right to sell the Securities pursuant to a registration
statement or otherwise in compliance with applicable U.S. federal and state securities laws). Such Purchaser is acquiring the Securities
hereunder in the ordinary course of its business.

 

(c) Purchaser Status.
At the time such Purchaser was offered the Securities, it was, and as of the date hereof it is, and on each date on which it converts
a Note, it will be either: (i) an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8)
under the Securities Act or (ii) a “qualified institutional buyer” as defined in Rule 144A(a) under the Securities
Act. Such Purchaser is not required to be registered as a broker-dealer under Section 15 of the Exchange Act. Such Purchaser has
the authority and is duly and legally qualified to purchase and own the Securities. Such Purchaser is able to bear the risk of
such investment for an indefinite period and to afford a complete loss thereof. Such Purchaser has provided the information in
the Accredited Investor Questionnaire attached hereto as Exhibit F (the “Investor Questionnaire”). The
information set forth on the signature pages hereto and the Investor Questionnaire regarding such Purchaser is true and complete
in all respects. Except as disclosed in the Investor Questionnaire, such Purchaser has had no position, office or other material
relationship within the past three years with the Company or Persons (as defined below) known to such Purchaser to be Affiliates
of the Company, and is not a member of the Financial Industry Regulatory Authority or an “associated person” (as such
term is defined under the FINRA Membership and Registration Rules Section 1011).

 

(d) Experience of
Such Purchaser. Such Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience
in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities,
and has so evaluated the merits and risks of such investment. Such Purchaser is able to bear the economic risk of an investment
in the Securities and, at the present time, is able to afford a complete loss of such investment.

 

(e) Information on
Company. Purchasers are not deemed to have any knowledge of any information not included in the Financial Statements or the
Transaction Documents unless such information is delivered in the manner described in the next sentence.  Each Purchaser
was afforded (i) the opportunity to ask such questions as such Purchaser deemed necessary of, and to receive answers from, representatives
of the Company concerning the merits and risks of acquiring the Securities; (ii) the right of access to information about the Company
and its financial condition, results of operations, business, properties, management and prospects sufficient to enable such Purchaser
to evaluate the Securities; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire
without unreasonable effort or expense that is necessary to make an informed investment decision with respect to acquiring the
Securities. In addition, such Purchaser may have received in writing from the Company such other information concerning its operations,
financial condition and other matters as such Purchaser has requested, identified thereon as OTHER WRITTEN INFORMATION (such other
information is collectively, the “Other Written Information”), and considered all factors such Purchaser deems
material in deciding on the advisability of investing in the Securities.

 

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(f) Compliance with
Securities Act; Reliance on Exemptions. Such Purchaser understands and agrees that the Securities have not been registered
under the 1933 Act or any applicable state securities laws, by reason of their issuance in a transaction that does not require
registration under the 1933 Act, and that such Securities must be held indefinitely unless a subsequent disposition is registered
under the 1933 Act or any applicable state securities laws or is exempt from such registration. Such Purchaser understands and
agrees that the Securities are being offered and sold to such Purchaser in reliance on specific exemptions from the registration
requirements of United States federal and state securities laws and regulations and that the Company is relying in part upon the
truth and accuracy of, and such Purchaser’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of such Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility
of such Purchaser to acquire the Securities.

 

(g) Communication
of Offer. Such Purchaser is not purchasing the Securities as a result of any “general solicitation” or “general
advertising,” as such terms are defined in Regulation D, which includes, but is not limited to, any advertisement, article,
notice or other communication regarding the Securities published in any newspaper, magazine or similar media or on the internet
or broadcast over television, radio or the internet or presented at any seminar or any other general solicitation or general advertisement.

 

(h) No Governmental
Review. Such Purchaser understands that no United States federal or state agency or any other governmental or state agency
has passed on or made recommendations or endorsement of the Securities or the suitability of the investment in the Securities nor
have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(i) No Conflicts.
The execution, delivery and performance of this Agreement and performance under the other Transaction Documents and the consummation
by such Purchaser of the transactions contemplated hereby and thereby or relating hereto or thereto do not and will not (i) result
in a violation of such Purchaser’s charter documents, bylaws or other organizational documents, if applicable, (ii) conflict
with nor constitute a default (or an event which with notice or lapse of time or both would become a default) under any agreement
to which such Purchaser is a party, nor (iii) result in a violation of any law, rule, or regulation, or any order, judgment or
decree of any court or governmental agency applicable to such Purchaser or its properties (except for such conflicts, defaults
and violations as would not, individually or in the aggregate, have a material adverse effect on such Purchaser). Such Purchaser
is not required to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental
agency in order for it to execute, deliver or perform any of its obligations under this Agreement or perform under the other Transaction
Documents nor to purchase the Securities in accordance with the terms hereof, provided that for purposes of the representation
made in this sentence, such Purchaser is assuming and relying upon the accuracy of the relevant representations and agreements
of the Company herein.

 

(j)
Tax Liability. Such Purchaser has reviewed with its own tax advisors the U.S. federal,
state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. Such Purchaser
understands that it (and not the Company) shall be responsible for its own tax liability that may arise as a result of this investment
or the transactions contemplated by this Agreement.

 

(k) Survival.
The foregoing representations and warranties shall survive the Closing Date.

 

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3.3 Reliance.
The Company acknowledges and agrees that the representations contained in Section 3.2 shall not modify, amend or affect such Purchaser’s
right to rely on the Company’s representations and warranties contained in this Agreement or any representations and warranties
contained in any other Transaction Document or any other document or instrument executed and/or delivered in connection with this
Agreement or the consummation of the transaction contemplated hereby.

 

ARTICLE IV.

OTHER AGREEMENTS OF THE PARTIES

 

4.1 Transfer Restrictions.

 

(a) Disposition of
Securities. The Securities may only be disposed of in compliance with state and U.S. federal securities laws and any other
applicable securities laws. In connection with any transfer of Securities other than pursuant to an effective registration statement
or Rule 144, to the Company or to an Affiliate of a Purchaser or in connection with a pledge as contemplated in Section 4.1(b),
the Company may require the transferor thereof to provide to the Company at the Company’s expense, an opinion of counsel
selected by the transferor and reasonably acceptable to the Company, the form and substance of which opinion shall be reasonably
satisfactory to the Company, to the effect that such transfer does not require registration of such transferred Securities under
the Securities Act. As a condition of transfer, any such transferee shall agree in writing to be bound by the terms of this Agreement
and the applicable Registration Rights Agreement and shall have the rights and obligations of a Purchaser under the Transaction
Documents and registration statement, if any.

 

(b) Legend. The
Purchasers agree to the imprinting, so long as is required by this Section 4.1, of a legend on any of the Securities in the following
form:

 

[NEITHER] THIS SECURITY
[NOR THE SECURITIES INTO WHICH THIS SECURITY IS [EXERCISABLE] [CONVERTIBLE]] HAS [NOT] BEEN REGISTERED WITH THE SECURITIES AND
EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT
TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY
A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.
THIS SECURITY [AND THE SECURITIES ISSUABLE UPON [EXERCISE] [CONVERSION] OF THIS SECURITY] MAY BE PLEDGED IN CONNECTION WITH A BONA
FIDE MARGIN ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR”
AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

(c) Pledge.
The Company acknowledges and agrees that a Purchaser may from time to time following a Qualified Offering pledge pursuant to a
bona fide margin agreement with a registered broker-dealer or grant a security interest in some or all of the Securities to a financial
institution that is an “accredited investor” as defined in Rule 501(a) under the Securities Act and who agrees to be
bound by the provisions of this Agreement and the applicable Registration Rights Agreement and, if required under the terms of
such arrangement, such Purchaser may transfer pledge or secure Securities to the pledgees or secured parties. Such a pledge or
transfer would not be subject to approval of the Company and no legal opinion of legal counsel of the pledgee, secured party or
pledgor shall be required in connection therewith. At such Purchaser’s expense, the Company will execute and deliver such
reasonable documentation as a pledgee or secured party of Securities may reasonably request in connection with a pledge or transfer
of the Securities, including, if the Securities are subject to registration pursuant to the applicable Registration Rights Agreement,
the preparation and filing of any required prospectus supplement under Rule 424(b)(3) under the Securities Act or other applicable
provision of the Securities Act to appropriately amend the list of selling shareholders thereunder.

 

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(d) Legend
Removal. Subsequent to a Qualified Offering, certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended
Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the
resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule
144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance
with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale
restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations
and pronouncements issued by the staff of the Commission) (each such event being a “Legend Removal Qualification Event”).
Upon request by a holder of Underlying Shares, the Company shall cause its counsel to issue a legal opinion to the Transfer Agent,
if required by the Transfer Agent, promptly after a Legend Removal Qualification Event and the delivery to the Company or the
Company’s counsel by such holder of Underlying Shares of reasonable certifications requested by the Company or the Company’s
counsel in connection with the issuance of such opinion to effect the removal of the legend hereunder with respect to any qualifying
Underlying Shares. Following an applicable Legend Removal Qualification Event, the Company will no later than two Trading Days
following the delivery by a Purchaser to the Company or the Transfer Agent (with notice to the Company) of a legended certificate
representing Underlying Shares (endorsed or with stock powers attached, signatures guaranteed, and otherwise in form necessary
to affect the reissuance and/or transfer), with reasonable certifications from the Purchaser requested by the Company in order
to effectuate a legend removal (such second Trading Day, the “Legend Removal Date”), deliver or cause to be
delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends. The Company
may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer
set forth in this Section 4.1.

 

(e) Legend
Removal Default. In addition to such Purchaser’s other available remedies, provided the conditions for legend removal
set forth in Section 4.1(d) exist, the Company shall pay to a Purchaser, in cash, as partial liquidated damages and not as a penalty,
for each $1,000 of Underlying Shares (based on the higher of the actual purchase price of the Ordinary Shares on the date such
Securities are submitted to the Transfer Agent) delivered for removal of the restrictive legend and subject to Section 4.1(d),
$5 per Trading Day for each Trading Day after the Legend Removal Date (increasing to $10 per Trading Day after the fifth Trading
Day) until such certificate is delivered without a legend. Nothing herein shall limit such Purchaser’s right to pursue actual
damages for the Company’s failure to deliver certificates representing any Securities as required by the Transaction Documents,
and such Purchaser shall have the right to pursue all remedies available to it at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief.

 

(f) DWAC.
Commencing after the Conversion Date, in lieu of delivering physical certificates representing the Unlegended Shares, upon request
of a Purchaser, so long as the certificates therefor do not bear a legend and the Purchaser is not obligated to return such certificate
for the placement of a legend thereon, the Company shall cause its transfer agent to electronically transmit the Unlegended Shares
by crediting the account of Purchaser’s prime broker with the Depository Trust Company through its Deposit Withdrawal At
Custodian system, provided that the Company’s Ordinary Shares are DTC eligible and the Company’s transfer agent participates
in the Deposit Withdrawal at Custodian system. Such delivery must be made on or before the Legend Removal Date. 

 

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(g) Resale
Requirements. Each Purchaser, severally and not jointly with the other Purchasers, agrees with the Company that such Purchaser
will sell the Securities pursuant to either the registration requirements of the Securities Act, including any applicable prospectus
delivery requirements, or an exemption therefrom, and that if Securities are sold pursuant to a registration statement, they will
be sold in compliance with the plan of distribution set forth therein, and acknowledges that the removal of the restrictive legend
from certificates representing Securities as set forth in this Section 4.1 is predicated upon the Company’s reliance upon
this understanding.

 

(h) Injunction.
In the event a Purchaser shall request delivery of Unlegended Shares as described in this Section 4.1 and the Company is required
to deliver such Unlegended Shares, the Company may not refuse to deliver Unlegended Shares based on any claim that such Purchaser
or anyone associated or affiliated with such Purchaser has not complied with Purchaser’s obligations under the Transaction
Documents, or for any other reason, unless, an injunction or temporary restraining order from a court, on notice, restraining and
or enjoining delivery of such Unlegended Shares shall have been sought and obtained by the Company and the Company has posted a
surety bond for the benefit of such Purchaser in the amount of 120% of the amount of the aggregate purchase price of the Underlying
Shares intended to be subject to the injunction or temporary restraining order, which bond shall remain in effect until the completion
of arbitration/litigation of the dispute and the proceeds of which shall be payable to such Purchaser to the extent Purchaser obtains
judgment in Purchaser’s favor.

 

(i) Buy-In.
In addition to any other rights available to Purchaser, if the Company fails to deliver to a Purchaser Unlegended Shares as required
pursuant to this Agreement and after the Legend Removal Date the Purchaser, or a broker on the Purchaser’s behalf, purchases
(in an open market transaction or otherwise) Ordinary Shares to deliver in satisfaction of a sale by such Purchaser of the Ordinary
Shares which the Purchaser was entitled to receive in unlegended form from the Company (a “Buy-In”), then the
Company shall promptly pay in cash to the Purchaser (in addition to any remedies available to or elected by the Purchaser) the
amount, if any, by which (A) the Purchaser’s total purchase price (including brokerage commissions, if any) for the Ordinary
Shares so purchased exceeds (B) the aggregate purchase price of the Ordinary Shares delivered to the Company for reissuance as
Unlegended Shares together with interest thereon at a rate of 15% per annum accruing until such amount and any accrued interest
thereon is paid in full (which amount shall be paid as liquidated damages and not as a penalty). For example, if a Purchaser purchases
Ordinary Shares having a total purchase price of $11,000 to cover a Buy-In with respect to $10,000 of purchase price of Shares
delivered to the Company for reissuance as Unlegended Shares, the Company shall be required to pay the Purchaser $1,000, plus interest,
if any. The Purchaser shall provide the Company written notice indicating the amounts payable to the Purchaser in respect of the
Buy-In.

 

4.2 Acknowledgment
of Dilution. The Company acknowledges that the issuance of the Securities may result in dilution of the outstanding Ordinary
Shares, which dilution may be substantial under certain market conditions. The Company further acknowledges that its obligations
under the Transaction Documents, including, without limitation, its obligation to issue the Underlying Shares pursuant to the Transaction
Documents, are unconditional and absolute and not subject to any right of set off, counterclaim, delay or reduction, regardless
of the effect of any such dilution or any claim the Company may have against any Purchaser and regardless of the dilutive effect
that such issuance may have on the ownership of the other shareholders of the Company.

 

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4.3 Furnishing of
Information.

 

(a) The Company covenants
and agrees with the Purchaser that commencing on the initial Closing Date and until the Conversion Date, the Company shall deliver
to the Purchaser: (i) for each of the Company’s first three fiscal quarters unaudited quarterly financial statements within
60 days after each quarter-end, (ii) in addition to the requirements of Section 4.3(b), within 90 days after each of the Company’s
fiscal year ends, annual audited financial statements prepared according to GAAP, and (iii) copies of any documents or data furnished
to the Company’s shareholders in their capacity as Company shareholders regarding the Company or its affairs, simultaneously
with the furnishing of such documents or data to such shareholders. The foregoing obligations will be deemed satisfied if such
financial statements have been timely filed with the Commission and are available on the EDGAR system.

 

(b) Not later than January
15, 2018, the Company will provide to the Purchasers and Palladium audited financial statements prepared according to GAAP by an
auditing firm registered with the PCAOB, for the 2015 and 2016 fiscal years and unaudited stub period financial statements, in
form and substance sufficient to meet the minimum requirements for filing prior to February 14, 2018 a registration statement on
Form S-1 with the Commission pursuant to Regulation S-X and Form S-1.

 

(c) Each Purchaser agrees
that any confidential or proprietary information obtained from the Company (including, without limitation, any information obtained
pursuant to Section 4.3(a) and Section 4.3(b)) by such Purchaser will not be disclosed to any other person or used for any purpose
(other than (i) to evaluate and monitor such Purchaser’s investment in the Company and to enforce such Purchaser’s rights under
any agreement with the Company; or (ii) for the purpose of a potential transfer of some or all of Purchaser’s shares to a
third party transferee, provided that such potential transferee is not a competitor of the Company and signs and delivers to the
Company a non-disclosure and confidentiality agreement with terms substantially similar to those contained in this Section 4.3(c)
prior to such disclosure), without the prior written consent of the Company, unless such information (a) is known or becomes known
to the public in general (other than as a result of a breach of the confidentiality obligation owed to the Company by such party
to the knowledge of such Purchaser), or (b) is or has been made known or disclosed to such party by a third party without a confidentiality
obligation to the Company, or (c) is required to be made known or disclosed by applicable law, rule or regulation or is required
or requested to be made known or disclosed by any regulatory authority, provided that to the extent possible such party promptly
notifies the Company of such request or requirement, takes reasonable steps at the Company’s expense and request, to minimize the
extent of any such required disclosure and only discloses that portion of the confidential or proprietary information that it is
legally obligated to disclose. Notwithstanding the foregoing, a Purchaser may disclose confidential or proprietary information
to its attorneys, accountants, consultants and other professionals to the extent necessary to obtain their services in connection
with monitoring its investment in the Company or performing services for the Purchaser. This Section 4.3(c) shall survive the termination
of this Agreement for one year but not later than the Conversion Date. The Company will cause the Initial Registration Statement
(as defined in the Registration Rights Agreement) to contain disclosure of all confidential and other information given to Purchaser
by Company and its Affiliates so that as of the Conversion Date, the Purchaser will not be in possession of material non-public
information provided by the Company or its Affiliates.

 

4.4 Initial Public
Offering, Registration Requirements and Mandatory Conversion.

 

(a)    The
Company undertakes to use its reasonable best efforts to close the Qualified Offering. The underwriter of the Qualified Offering
will be subject to the reasonable approval of each of the Company, Palladium, and Exigent, which approvals will not be unreasonably
withheld or delayed. The underwriter of the Qualified Offering will not receive compensation in connection with the Qualified Offering
in excess of the amount set forth on Schedule 4.4(a). The Company hereby acknowledges its obligations pursuant to the Registration
Rights Agreement to use its reasonable best efforts to cause a registration statement satisfying the requirements of Form S-1 to
be declared effective contemporaneously with the effectiveness of the registration statement employed in connection with the Qualified
Offering and to maintain such registration statement in each case as required pursuant to the Registration Rights Agreement.

 

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(b)    Provided
the company has timely complied with its undertaking with respect to the Qualified Offering and its obligations pursuant to the
Registration Rights Agreement, the outstanding principal and accrued interest of the Notes shall be mandatorily converted to Ordinary
Shares as more particularly described in the Notes.

 

4.5 Use of Proceeds.
The proceeds of the offering will be employed by the Company substantially for the purposes set forth on Schedule 4.5.

 

4.6 Indemnification
of Purchasers. Subject to the provisions of this Section 4.6, the Company will indemnify and hold each Purchaser and its directors,
officers, shareholders, members, partners, employees and agents (and any other Persons with a functionally equivalent role of a
Person holding such titles notwithstanding a lack of such title or any other title), each Person who controls such Purchaser (within
the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders,
agents, members, partners or employees (and any other Persons with a functionally equivalent role of a Person holding such titles
notwithstanding a lack of such title or any other title) of such controlling persons (each, a “Purchaser Party”)
harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments,
amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation that any such Purchaser
Party may suffer or incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants or
agreements made by the Company in this Agreement or in the other Transaction Documents, or (b) any action instituted against Purchaser
Parties in any capacity, or any of them or their respective Affiliates, by any shareholder of the Company who is not an Affiliate
of such Purchaser Party, with respect to any of the transactions contemplated by the Transaction Documents (unless such action
is based upon a breach of such Purchaser Party’s representations, warranties or covenants under the Transaction Documents
or any agreements or understandings such Purchaser Party may have with any such shareholder or any violations by such Purchaser
Party of state or U.S. federal securities laws or any conduct by such Purchaser Party which constitutes fraud, gross negligence,
willful misconduct or malfeasance). If any action shall be brought against any Purchaser Party in respect of which indemnity may
be sought pursuant to this Agreement, such Purchaser Party shall promptly notify the Company in writing, and the Company shall
have the right to assume the defense thereof with counsel of its own choosing reasonably acceptable to the Purchaser Party. Any
Purchaser Party shall have the right to employ separate counsel in any such action and participate in the defense thereof, but
the fees and expenses of such counsel shall be at the expense of such Purchaser Party except to the extent that (i) the employment
thereof has been specifically authorized by the Company in writing, (ii) the Company has failed after a reasonable period of time
to assume such defense and to employ counsel, or (iii) in such action there is, in the reasonable opinion of counsel, a material
conflict on any material issue between the position of the Company and the position of such Purchaser Party, in which case the
Company shall be responsible for the reasonable fees and expenses of no more than one such separate counsel. The Company will not
be liable to any Purchaser Party under this Agreement (y) for any settlement by a Purchaser Party effected without the Company’s
prior written consent, which shall not be unreasonably withheld or delayed; or (z) to the extent, but only to the extent that a
loss, claim, damage or liability is attributable to any Purchaser Party’s breach of its representations, warranties or covenants
under the Transaction Documents or any written agreements such Purchaser Party may have with any such shareholder or any violations
by such Purchaser Party of state or U.S. federal securities laws or any conduct by such Purchaser Party which constitutes fraud,
gross negligence or willful misconduct. The indemnification required by this Section 4.6 shall be made by periodic payments of
the amount thereof during the course of the investigation or defense, as and when bills are received or are incurred. The indemnity
agreements contained herein shall be in addition to any cause of action or similar right of any Purchaser Party against the Company
or others and any liabilities the Company may be subject to pursuant to law.

 

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4.7 Reservation
of Ordinary Shares.

 

(a) The Company shall
maintain a reserve from its duly authorized Ordinary Shares for issuance pursuant to the Transaction Documents in such amount as
may then be required to fulfill its obligations in full under the Transaction Documents, but not less than the Required Minimum.

 

(b) If, on any date,
the number of authorized but unissued (and otherwise unreserved) Ordinary Shares are less than the Required Minimum on such date,
then the Board of Directors shall use commercially reasonable best efforts to cause the shareholders of the Company to amend the
Company’s Articles of Association to increase the number of authorized but unissued Ordinary Shares to at least the Required
Minimum at such time, as soon as possible and in any event not later than the 90th day after such date. A Mandatory
Conversion (as defined in the Note) will not occur without the Purchaser’s consent if the Required Minimum has not been reserved
as of the date such Mandatory Conversion would otherwise occur.

 

4.8 Securities Laws
Filings. The Company agrees to timely file a Form D with respect to the Securities as required under Regulation D. The Company
shall take such action as the Company shall reasonably determine is necessary in order to obtain an exemption for, or to qualify
the Securities for, sale to the Purchasers at the Closing under applicable securities or “Blue Sky” laws of the states
of the United States, and shall provide evidence of such actions promptly upon request of any Purchaser. The Company agrees to
timely make all such other filings required to be made under Israeli law and any other jurisdiction to cause the Company to be
in compliance with all such applicable laws and fulfill its obligations under the Transaction Documents.

 

4.9 Subsequent Equity
Sales. Except in connection with an Exempt Issuance, without prior written approval of a Majority in Interest, until the End
Date and during any time that an Event of Default (as defined in the Note) is pending, the Company will not, without the consent
of a Majority in Interest, issue nor agree to issue any Ordinary Shares or Ordinary Shares Equivalents except under the employee
and incentive share option plan of the Company, a copy of which is annexed hereto as Exhibit I, and only up to the amounts
set forth on Schedule 3.1(g).

 

4.10 Equal Treatment
of Purchasers. No consideration (including any modification of any Transaction Document) shall be offered or paid to any Person
to amend or consent to a waiver or modification of any provision of any of the Transaction Documents unless the same or substantially
similar consideration is also offered, mutatis mutandis, on a ratable basis to all of the parties to this Agreement. For
clarification purposes, this provision constitutes a separate right granted to each Purchaser by the Company and negotiated separately
by each Purchaser, and is intended for the Company to treat the Purchasers as a class and shall not in any way be construed as
the Purchasers acting in concert or as a group with respect to the purchase, disposition or voting of Securities or otherwise.

 

4.11 Integration.
The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined
in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Securities in a manner that would require
the registration under the Securities Act of the sale or resale of the Securities.

 

4.12 Conduct of
Business. Until the End Date, the Company shall keep all of its property, which is necessary or useful to the conduct of its
business, in good working order and condition, ordinary wear and tear excepted. Until the End Date, the Company will maintain insurance
coverage of the type and not less than the amount in effect as of the Closing Date and such other insurance reasonable for a company
similarly situated as the Company. Until the sooner of the Conversion Date or End Date, the Company will conduct its business in
the ordinary course consistent with past practices.

 

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4.13 Preservation
of Corporate Existence. Until one (1) year after the End Date, each of the Company and each Subsidiary shall preserve and maintain
its corporate existence, rights, privileges and franchises in the jurisdiction of its incorporation, and qualify and remain qualified,
as a foreign corporation in each jurisdiction in which such qualification is necessary in view of its business or operations and
where the failure to qualify or remain qualified would reasonably be expected to have a Material Adverse Effect.

 

4.14 Shareholder
Rights Plan. Subject to the requirements of applicable law, no claim will be made or enforced by the Company or, with the consent
of the Company, any other Person, that any Purchaser is an “Acquiring Person” under any control share acquisition,
business combination, poison pill (including any distribution under a rights agreement) or similar anti-takeover plan or arrangement
in effect or hereafter adopted by the Company, or that any Purchaser could be deemed to trigger the provisions of any such plan
or arrangement, by virtue of receiving Securities under the Transaction Documents.

 

4.15 Reserved.

 

4.16 Lockup Agreements.
Each of the Persons identified on Schedule 4.16 shall deliver to the
Company and Purchasers for the benefit of the Company and Purchasers executed lockup agreements in the forms annexed to Schedule
4.16 (each a “Lockup Agreement”).

 

4.17 Indebtedness.
Until the End Date, except for an Exempt Issuance, the Company may not incur Indebtedness without the consent of the Purchasers
nor grant a security interest or allow a security interest to be taken in any of the Company’s assets if such security interest
would be senior to or pari passu with the security interest granted to the Purchasers pursuant to the Security Agreements
and, in any case, unless such potential security interest grantee enters into an intercreditor and subordination agreement reasonably
acceptable to Purchasers.

 

4.18 Additional
Issuances. Until the sooner of the Conversion Date or End Date neither the company nor anyone acting on behalf of the company
will engage any Person to act as an underwriter or placement agent for the offering of any equity or debt securities of the Company
without the prior approval of a Majority in Interest.

 

4.19 Confidentiality.
Until the sooner of the filing of a registration statement in connection with the Qualified Offering or on behalf of the Purchasers
the Company and the Purchasers will not disclose the existence or terms of the Offering unless required by law, regulation, Trading
Market rules, court process or to their respective Affiliates, attorneys, accountants, advisors, shareholders and agents who are
required or for whom it would be convenient for such disclosure to be made in connection with the conduct of the Offering and compliance
with the terms of the Transaction Documents.

 

4.20 Amended Articles
of Association. As of the initial Closing Date, the Company shall have amended its Articles of Association and adopted the
form of Articles of Association annexed hereto as Exhibit H (the “Amended Articles”).

 

4.21 Filing With
Israel Companies Registrar. The Company will file with the Israel Companies Registrar all filings required to be made with
respect to the Offering, including the registration of security interests pursuant to the Security Agreements, in accordance with
the requisite time periods set forth in the Companies Law.

 

4.22 D&O Insurance.
The Company currently has D&O and is engaged with a broker for appropriate D&O coverage, details of which are described
on Schedule 4.22.

 

    - 27 -

     

    

 

ARTICLE V.

MISCELLANEOUS

 

5.1 Termination. 
This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only and without any effect
whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other parties, if the initial
Closing has not been consummated on or before December 27, 2017; provided, however, that such termination will not
affect the right of any party to sue for any breach by any other party or parties.

 

5.2 Fees and Expenses.
Except as expressly set forth on Schedule 3.1(r), each party shall pay the fees and expenses of its advisers, counsel, accountants
and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery
and performance of this Agreement. The Company shall pay all Transfer Agent fees, stamp taxes and other taxes and duties levied
in connection with the delivery of any Securities to the Purchasers. The Company agrees to pay pursuant to the Escrow Agreement
legal fees of Purchaser Counsel in the amount of $40,000 incurred in connection with the preparation, execution and delivery of
the Transaction Documents and initial Closing and reimburse Purchaser Counsel for filings fees and reasonable out-of-pocket expenses
incurred in connection with the Security Agreements.

 

5.3 Entire Agreement.
The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding of the parties with
respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or written, with respect
to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

5.4 Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery, telegram, email, or facsimile, addressed as set forth below or to such other address as such party shall have
specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall
be deemed effective (a) upon hand delivery or delivery by email or facsimile, with accurate confirmation generated by the transmitting
facsimile machine, at the address or number designated below (if delivered on a business day during normal business hours where
such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during
normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing by express
courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur.
The addresses for such communications shall be: (i) if to the Company, to: MedyMatch Technology Ltd., 76 Yigal Alon Street, Floor
5, Tel Aviv, Israel 6706701, Attn: Michael Rosenberg, co-Founder & CFO, email: mrosenberg@medymatch.com,
with a copy by fax or email only to (which shall not constitute notice): Meitar Liquornik Geva Leshem Tal, Law Offices, 16 Abba
Hillel Silver Road, Ramat Gan 5250608, Israel, Attn: David S. Glatt, Adv., facsimile: (972) 3-610-3111, email: dglatt@meitar.com,
(ii) if to Exigent, to: Exigent Management Ltd., 5 Wyndham Deedes St., Jerusalem, Israel, email: smann@exigentcap.com; ebrender@exigentcap.com,
with a copy by email only to (which shall not constitute notice): Gross, Kleinhendler, Hodak, Halevy, Greenberg & Co., One
Azrieli Center, Round Building, Tel Aviv 6701101, Israel, Attn: Richard J. Mann, Adv., email: rick@gkh-law.com, (iii) if to the
Purchasers, to: the addresses, fax numbers and email addresses indicated on the signature pages hereto, with an additional copy
by fax or email only to (which shall not constitute notice): Grushko & Mittman, P.C., 515 Rockaway Avenue, Valley Stream, New
York 11581, Attn: Edward M. Grushko, Esq., facsimile: (212) 697-3575, email: ed@grushkomittman.com, and (iv) if to the placement
agent, to: Palladium Capital Advisors LLC, 10 Rockefeller Plaza, Suite 909, New York, NY 10020, facsimile: (646) 390-6328, email:
mhartstein@palladiumcapital.com.

 

    - 28 -

     

    

 

5.5 Amendments;
Waivers. Any provision of this Agreement and any other Transaction Document may be waived, modified, supplemented or amended
and consent obtained or approval deemed granted except in a written instrument signed, in the case of an amendment by the Company
and the Purchasers holding at least a majority in interest which for so long as South Florida Biotech Ventures, LLC, or its assigns
holds at least Securities acquired for at least $1,000,000 must include South Florida Biotech Ventures, LLC (“Majority
in Interest”) of the component of the affected Securities then outstanding, or in the case of a waiver, by the party
against whom enforcement of any such waived provision is sought. No waiver of any default with respect to any provision, condition
or requirement of this Agreement nor any other Transaction Document shall be deemed to be a continuing waiver in the future or
a waiver of any subsequent default or a waiver of any other provision, condition or requirement thereof, nor shall any delay or
omission of any party to exercise any right thereunder in any manner impair the exercise of any such right. Any Purchaser may waive
in writing any right or benefit granted to or available to such Purchaser pursuant to the Transaction Documents.

 

5.6 Headings.
The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect
any of the provisions hereof.

 

5.7 Successors and
Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns.
The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Purchaser
(other than by merger). Following the Closing, any Purchaser may assign, on ten (10) Business Day prior notice any or all of its
rights under this Agreement to any Person to whom such Purchaser assigns or transfers any Securities, provided that such transferee
agrees in writing to be bound with respect to the transferred Securities by the provisions of the Transaction Documents that apply
to the “Purchasers” and is able to make each and every representation made by Purchasers in this Agreement. No assignment
by a Purchaser will be allowed if the result would be an increase in the number of actual or beneficial owners of the assigned
securities.

 

5.8 No Third-Party
Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted
assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise explicitly
set forth herein.

 

5.9 Governing Law.
All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents (other than those
mandatorily subject to Israeli law and which may not be waived under Israeli law) shall be governed by and construed and enforced
in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof except
as to corporate law matters which are specifically required by the laws of the State of Israel to be governed by the laws of the
State of Israel. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective Affiliates,
directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and U.S.
federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state
and U.S. federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or
in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement
of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any action, suit or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper
or is an inconvenient venue for such proceeding. 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 via registered or certified mail or overnight
delivery (with evidence of delivery) 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 other manner permitted by law. If either party shall commence an action or
proceeding to enforce any provisions of the Transaction Documents, then, in addition to the obligations of the Company under Section
4.10, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for its reasonable attorneys’
fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

 

    - 29 -

     

    

 

5.10 Reserved.

 

5.11 Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being
understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf”
signature page were an original thereof.

 

5.12 Severability.
If any term, provision, covenant or restriction of any Transaction Document is held by a court of competent jurisdiction to be
invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall
remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their
commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as
that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of
the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of
such that may be hereafter declared invalid, illegal, void or unenforceable.

 

5.13 Rescission
and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of)
any of the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction
Document and the Company does not timely perform its related obligations within the periods therein provided, then such Purchaser
may, at any time prior to the Company’s performance of such obligations, rescind or withdraw, in its sole discretion from
time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part without prejudice
to its future actions and rights; provided, however, that in the case of a rescission of a conversion of a Note,
the applicable Purchaser shall be required to return any Ordinary Shares subject to any such rescinded conversion or exercise notice
concurrently with the return to such Purchaser of the aggregate exercise price paid to the Company for such shares and the restoration
of such Purchaser’s right to acquire such shares pursuant to such Purchaser’s Note.

 

5.14 Replacement
of Securities. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the Company
shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or
in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory
to the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall
also pay any reasonable costs (including customary indemnity) associated with the issuance of such replacement Securities.

 

    - 30 -

     

    

 

5.15 Remedies.
In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of
the Purchasers and the Company will be entitled to specific performance under the Transaction Documents. The parties agree that
monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations contained in the
Transaction Documents and hereby agree to waive and not to assert in any action for specific performance of any such obligation
the defense that a remedy at law would be adequate.

 

5.16 Payment Set
Aside. To the extent that the Company makes a payment or payments to any Purchaser pursuant to any Transaction Document or
a Purchaser enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or exercise
or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged
by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other Person under any
law (including, without limitation, any bankruptcy law, state or U.S. federal law, common law or equitable cause of action), then
to the extent of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived and continued
in full force and effect as if such payment had not been made or such enforcement or setoff had not occurred.

 

5.17 Usury.
To the extent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever claim, and
will resist any and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now or at any
time hereafter in force, in connection with any claim, action or proceeding that may be brought by any Purchaser in order to enforce
any right or remedy under any Transaction Document. Notwithstanding any provision to the contrary contained in any Transaction
Document, it is expressly agreed and provided that the total liability of the Company under the Transaction Documents for payments
in the nature of interest shall not exceed the maximum lawful rate authorized under applicable law (the “Maximum Rate”),
and, without limiting the foregoing, in no event shall any rate of interest or default interest, or both of them, when aggregated
with any other sums in the nature of interest that the Company may be obligated to pay under the Transaction Documents exceed such
Maximum Rate. It is agreed that if the maximum contract rate of interest allowed by law and applicable to the Transaction Documents
is increased or decreased by statute or any official governmental action subsequent to the date hereof, the new maximum contract
rate of interest allowed by law will be the Maximum Rate applicable to the Transaction Documents from the effective date thereof
forward, unless such application is precluded by applicable law. If under any circumstances whatsoever, interest in excess of the
Maximum Rate is paid by the Company to any Purchaser with respect to indebtedness evidenced by the Transaction Documents, such
excess shall be applied by such Purchaser to the unpaid principal balance of any such indebtedness or be refunded to the Company,
the manner of handling such excess to be at such Purchaser’s election.

 

5.18 Independent
Nature of Purchasers’ Obligations and Rights. The obligations of each Purchaser under any Transaction Document are several
and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance
or non-performance of the obligations of any other Purchaser under any Transaction Document. Nothing contained herein or in any
other Transaction Document, and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the
Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers
are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction
Documents. Each Purchaser shall be entitled to independently protect and enforce its rights, including, without limitation, the
rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Purchaser
to be joined as an additional party in any proceeding for such purpose. Each Purchaser has been represented by its own separate
legal counsel in its review and negotiation of the Transaction Documents. The Company has elected to provide all Purchasers with
the same terms and Transaction Documents for the convenience of the Company and not because it was required or requested to do
so by any of the Purchasers. It is expressly understood and agreed that each provision contained in this Agreement and in each
other Transaction Document is between the Company and a Purchaser, solely, and not between the Company and the Purchasers collectively
and not between and among the Purchasers.

 

    - 31 -

     

    

 

5.19 Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

5.20 Currency.
As employed in the Transaction Documents, dollar, Dollar or “$” means United States currency and NIS means New Israeli
Shekels.

 

5.21 Construction.
The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise the Transaction
Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting
party shall not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition, each and
every reference to share prices and Ordinary Shares in any Transaction Document shall be subject to adjustment for reverse and
forward stock splits, stock dividends, stock combinations and other similar transactions of the Ordinary Shares that occur after
the date of this Agreement.

 

5.22 WAIVER OF
JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES
EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY
AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY. 

 

5.23 Equitable Adjustment.
The Conversion Price, trading volume amounts, price/volume amounts and similar figures in the Transaction Documents shall be equitably
adjusted (but without duplication) to offset the effect of stock splits, similar events and as otherwise described in the Transaction
Documents.

 

(Signature Pages Follow)

 

    - 32 -

     

    

IN WITNESS WHEREOF,
the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

	MedyMatch Technology Ltd.	 	Address for Notice:
	 	 	 
	 	 	76 Yigal Alon Street, Floor 5
	 	 	Tel Aviv, Israel 6706701
	 	 	Email: mrosenberg@medymatch.com
	 	 	 
	 	 	 	 
	By:	/s/ Michael Rosenberg	 	 
	 	Name: Michael Rosenberg	 	 
	 	Title: co-Founder and CFO	 	 
	 	 	 
	
        With a copy to (which shall not constitute
        notice):

         

        Meitar Liquornik Geva Leshem Tal, Law Offices

        16 Abba Hillel Silver Road

        Ramat Gan 5250608, Israel

        Attn: David S. Glatt, Adv.

        Fax: (972) 3-610-3111

        Email: dglatt@meitar.com
	 	 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

    - 33 -

     

    

 

[PURCHASER
SIGNATURE PAGE TO MedyMatch Technology Ltd.

SECURITIES
PURCHASE AGREEMENT]

 

IN WITNESS WHEREOF,
the undersigned have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as
of the date first indicated above.

 

Name of Purchaser: ______SOUTH FLORIDA
BIOTECH VENTURES, LLC___________

Signature of Authorized Signatory of
Purchaser: ____/s/ Mark Groussman_______________

Name of Authorized Signatory: _________Mark
Groussman_________________________

Title of Authorized Signatory: ________Managing
Member__________________________

Email Address of Authorized Signatory:
_____________________________________________

Facsimile Number of Authorized Signatory:
__________________________________________

Address for Notice to Purchaser: 445
W. 40th Street_______________________________

Miami Beach, FL
33140__________________________

 

Address for Delivery of Securities to Purchaser
(if not same as address for notice):

 

5154 La Gorca Drive, Miami Beach FL 33140                                                                                                         

 

______________________________________________________________________________

 

______________________________________________________________________________

 

Subscription Amount: US$4,000,000.00

 

Note Principal: ___________________

 

EIN Number, if applicable, will be provided
under separate cover.

 

[SIGNATURE PAGES CONTINUE]

 

    - 34 -

     

    

 

[PURCHASER
SIGNATURE PAGE TO MedyMatch Technology Ltd.

SECURITIES
PURCHASE AGREEMENT]

 

IN WITNESS WHEREOF,
the undersigned have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as
of the date first indicated above.

 

Name of Purchaser: ______PALLADIUM CAPITAL
ADVISORS LLC_______________

Signature of Authorized Signatory of
Purchaser: ____/s/ Joel Padowitz_______________

Name of Authorized Signatory: _________Joel
Padowitz___________________________

Title of Authorized Signatory: ________Managing
Member__________________________

Email Address of Authorized Signatory:
_____________________________________________

Facsimile Number of Authorized Signatory:
________(646) 390-6328_____________________

Address for Notice to Purchaser: 10
Rockefeller Plaza, Suite 909____________________

New York, New York
10020______________________

 

Address for Delivery of Securities to Purchaser
(if not same as address for notice):

 

______________________________________________________________________________

 

______________________________________________________________________________

 

______________________________________________________________________________

 

Subscription Amount: US$320,000

 

Note Principal: ___________________

 

EIN Number, if applicable, will be provided
under separate cover.

 

[SIGNATURE PAGES CONTINUE]

 

    - 35 -

     

    

EXHIBITS AND SCHEDULES

 

	Exhibit A	Form of Note
	Exhibit B	Escrow Agreement
	Exhibit C	Security Agreements
	Exhibit D	Form of Legal Opinion
	Exhibit E-1	Purchaser Registration Rights Agreement
	Exhibit E-2	Exigent Registration Rights Agreement
	Exhibit F	Form of Investor Questionnaire
	Exhibit G	Intellectual Property Agreements
	Exhibit H	Amended Articles
	Exhibit I	Share Option Plan
	Exhibit J	Shareholders Register

 

	Schedule 3.1(a)	Subsidiaries
	Schedule 3.1(g)	Capitalization
	Schedule 3.1(h)	Financial Statements
	Schedule 3.1(i)	Material Changes
	Schedule 3.1(o)	Intellectual Property
	Schedule 3.1(q)	Transactions With Affiliates
	Schedule 3.1(r)	Fees and Commissions
	Schedule 4.4(a)	Underwriting Compensation
	Schedule 4.5	Use of Proceeds
	Schedule 4.16	Lockup Agreement Providers and Forms of Lockup Agreements
	Schedule 4.22	Director and Officer Liability Policy

 

    - 36 -

     

    

 

EXHIBIT F

 

ACCREDITED INVESTOR QUESTIONNAIRE

IN CONNECTION WITH INVESTMENT IN CONVERTIBLE
NOTE

MEDYMATCH TECHNOLOGY LTD.,

AN ISRAELI CORPORATION

PURSUANT TO SECURITIES PURCHASE AGREEMENT
DATED DECEMBER ___, 2017

 

	TO : 	MedyMatch Technology Ltd.
	 	76 Yigal Alon Street, Floor 5
	 	Tel Aviv, Israel 6706701

 

Palladium Capital Advisors LLC

10 Rockefeller Plaza, Suite 909

New York, NY 10020

 

INSTRUCTIONS

 

PLEASE ANSWER ALL QUESTIONS.
If the appropriate answer is “None” or “Not Applicable”, so state. Please print or type your answers to
all questions. Attach additional sheets if necessary to complete your answers to any item.

 

Your answers will be
kept strictly confidential at all times. However, MedyMatch Technology Ltd. and Palladium Capital Advisors LLC (collectively, the
“Company”) may present this Questionnaire to such parties as it deems appropriate in order to assure itself that the
offer and sale of securities of the Company will not result in a violation of the registration provisions of the Securities Act
of 1933, as amended (the “Act”), or a violation of the securities laws of any state.

 

1. Please provide the following information:

 

Name: _______________________________________________________________________________________

 

Name of additional purchaser: _____________________________________________________________________

(Please complete information in Question 5)

 

Date of birth, or if other than an individual,
year of organization or incorporation:

 

____________________________________________________________________________________________

 

2. Residence address, or if other than
an individual, principal office address:

 

____________________________________________________________________________________________

 

____________________________________________________________________________________________

 

____________________________________________________________________________________________

 

Telephone number: _____________________________________________________________________________

 

Social Security Number: _________________________________________________________________________

 

Taxpayer Identification Number: ___________________________________________________________________

 

    - 37 -

     

    

 

3. Business address: ____________________________________________________________________________

 

____________________________________________________________________________________________

 

____________________________________________________________________________________________

 

Business telephone number: ______________________________________________________________________

 

4. Send mail to:                                 Residence ______                                  Business
_______

 

5. With respect to tenants in common, joint
tenants and tenants by the entirety, complete only if information differs from that above:

 

Residence address: _____________________________________________________________________________

 

_____________________________________________________________________________________________

 

_____________________________________________________________________________________________

 

Telephone number: ______________________________________________________________________________

 

Social Security Number: ___________________________________________________________________________

 

Taxpayer Identification Number: _____________________________________________________________________

 

Business address: _______________________________________________________________________________

 

_____________________________________________________________________________________________

 

_____________________________________________________________________________________________

 

Business telephone number: _______________________________________________________________________

 

Send Mail to:                               Residence _______                                     Business
_______

 

6. Please describe your present or most
recent business or occupation and indicate such information as the nature of your employment, how long you have been employed there,
the principal business of your employer, the principal activities under your management or supervision and the scope (e.g. dollar
volume, industry rank, etc.) of such activities:

 

_______________________________________________________________________________________________

 

_______________________________________________________________________________________________

 

_______________________________________________________________________________________________

 

    - 38 -

     

    

 

7. Please state whether you (i) are associated
with or affiliated with a member of the Financial Industry Regulatory Association, Inc. (“FINRA”), (ii) are an owner
of stock or other securities of FINRA member (other than stock or other securities purchased on the open market), or (iii) have
made a subordinated loan to any FINRA member:

 

	 	_______	_______
	 	Yes	No

 

If you answered yes to any of (i) –
(iii) above, please indicate the applicable answer and briefly describe the facts below:

 

	 
	 
	 
	 
	 

 

8A. Applicable to Individuals ONLY. Please
answer the following questions concerning your financial condition as an Accredited Investor (within the meaning of Rule 501 of
Regulation D under the Act). If the purchaser is more than one individual, each individual must initial an answer where the question
indicates a “yes” or “no” response and must answer any other question fully, indicating to which individual
such answer applies. If the purchaser is purchasing jointly with his or her spouse, one answer may be indicated for the couple
as a whole:

 

8.1 Does your net worth* (or joint net worth with your spouse)
exceed $1,000,000?

 

	 	_______	_______
	 	Yes	No

 

8.2 Did you have an individual income**
in excess of $200,000 or joint income together with your spouse in excess of $300,000 in each of the two most recent years and
do you reasonably expect to reach the same income level in the current year?

 

	 	_______	_______
	 	Yes	No

 

8.3 Are you a director or executive officer of the Company?

 

	 	_______	_______
	 	Yes	No

 

8.4 Are you or any of you Affiliates covered
by any of the “Bad Actor” designations described in Rule 506(d)(1)(i) to (viii) under the Securities Act?

 

	 	_______	_______
	 	Yes	No

 

* For purposes hereof, net worth shall
be deemed to include ALL of your assets, liquid or illiquid MINUS any liabilities, provided, however, that your primary residence
shall not be included as an asset, and indebtedness that is secured by your primary residence, up to the estimated fair market
value of the primary residence at the time of the sale of the Notes, shall not be included as a liability (except that if the amount
of such indebtedness outstanding at the time of sale of the Notes exceeds the amount outstanding 60 days before that time, other
than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability).

 

** For purposes hereof, the term “income”
is not limited to “adjusted gross income” as that term is defined for U.S. federal income tax purposes, but rather
includes certain items of income which are deducted in computing “adjusted gross income”. For investors who are salaried
employees, the gross salary of such investor, minus any significant expenses personally incurred by such investor in connection
with earning the salary, plus any income from any other source including unearned income, is a fair measure of “income”
for purposes hereof. For investors who are self-employed, “income” is generally construed to mean total revenues received
during the calendar year minus significant expenses incurred in connection with earning such revenues.

 

    - 39 -

     

    

 

8.B Applicable to Corporations, Partnerships, Trusts, Limited
Liability Companies and other Entities ONLY:

 

The purchaser is an Accredited Investor
because the purchaser falls within at least one of the following categories (Check all appropriate lines):

 

	 	___ 	(i) 	a bank as defined in Section 3(a)(2) of the Act or a savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Act whether acting in its individual or fiduciary capacity;
	 	 	 	 
	 	___ 	(ii) 	a broker-dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934, as amended;
	 	 	 	 
	 	___ 	(iii)	 an insurance company as defined in Section 2(13) of the Act;
	 	 	 	 
	 	___	 (iv) 	an investment company registered under the Investment Company Act of 1940, as amended (the “Investment Act”) or a business development company as defined in Section 2(a)(48) of the Investment Act;
	 	 	 	 
	 	___	 (v) 	a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958, as amended;
	 	 	 	 
	 	___	 (vi) 	a plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, where such plan has total assets in excess of $5,000,000;
	 	 	 	 
	 	___ 	(vii) 	an employee benefit plan within the meaning of Title 1 of the Employee Retirement Income Security Act of 1974, as amended (the “Employee Act”), where the investment decision is made by a plan fiduciary, as defined in Section 3(21) of the Employee Act, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or an employee benefit plan that has total assets in excess of $5,000,000, or a self-directed plan the investment decisions of which are made solely by persons that are Accredited Investors;
	 	 	 	 
	 	___ 	(viii) 	a private business development company, as defined in Section 202(a)(22) of the Investment Advisers Act of 1940, as amended;
	 	 	 	 
	 	___ 	(ix) 	an organization described in Section 501(c)(3) of the Internal Revenue Code, a corporation, a Massachusetts or similar business trust, or a partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000;
	 	 	 	 
	 	___ 	(x) 	a trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a “sophisticated” person, as described in Rule 506(b)(2)(ii) promulgated under the Act, who has such knowledge and experience in financial and business matters that he or she is capable of evaluating the merits and risks of the prospective investment;
	 	 	 	 
	 	___ 	(xi) 	an entity in which all of the equity investors are persons or entities described above (“Accredited Investors”). ALL EQUITY OWNERS MUST COMPLETE “EXHIBIT A” ATTACHED HERETO.

 

    - 40 -

     

    

 

9.A Do you have sufficient knowledge and
experience in financial and business matters so as to be capable of evaluating the merits and risks associated with investing in
the Company?

 

	 	_______	_______
	 	Yes	No

 

ANSWER QUESTION 9B ONLY IF THE ANSWER TO QUESTION 9A WAS “NO.”

 

9.B If the answer to Question 9A was “NO,”
do you have a financial or investment adviser (a) that is acting in the capacity as a purchaser representative and (b) who has
sufficient knowledge and experience in financial and business matters so as to be capable of evaluating the merits and risks associated
with investing in the Company?

 

	 	_______	_______
	 	Yes	No

 

If you have a financial or investment adviser(s),
please identify each such person and indicate his or her business address and telephone number in the space below. (Each such person
must complete, and you must review and acknowledge, a separate Purchaser Representative Questionnaire, which will be supplied at
your request).

 

 

 

 

 

 

 

10. You have the right, will be afforded
an opportunity, and are encouraged to investigate the Company and review relevant factors and documents pertaining to the officers
of the Company, and the Company and its business and to ask questions of a qualified representative of the Company regarding this
investment and the properties, operations, and methods of doing business of the Company.

 

Have you or has your purchaser representative,
if any, conducted any such investigation, sought such documents or asked questions of a qualified representative of the Company
regarding this investment and the properties, operations, and methods of doing business of the Company?

 

	 	_______	_______
	 	Yes	No

 

If so, briefly describe: _____________________________________________________________________________

 

______________________________________________________________________________________________

 

If so, have you completed your investigation
and/or received satisfactory answers to your questions?

 

	 	_______	_______
	 	Yes	No

 

    - 41 -

     

    

 

11. Do you understand the nature of an investment in the Company
and the risks associated with such an investment?

 

	 	_______	_______
	 	Yes	No

 

12. Do you understand that there is no
guarantee of any financial return on this investment and that you will be exposed to the risk of losing your entire investment?

 

	 	_______	_______
	 	Yes	No

 

13. Do you understand that this investment is not liquid?

 

	 	_______	_______
	 	Yes	No

 

14. Do you have adequate means of providing
for your current needs and personal contingencies in view of the fact that this is not a liquid investment?

 

	 	_______	_______
	 	Yes	No

 

15. Are you aware of the Company’s
business affairs and financial condition, and have you acquired all such information about the Company as you deem necessary and
appropriate to enable you to reach an informed and knowledgeable decision to acquire the Interests?

 

	 	_______	_______
	 	Yes	No

 

16. Do you have a “pre-existing,
substantive relationship” with the Company, any of the officers of the Company, or any registered broker-dealer or investment
adviser that is participating in the purchase of the securities?

 

	 	_______	_______
	 	Yes	No

 

(For purposes hereof, “pre-existing,
substantive relationship” means any relationship in which the Company (or a person acting on its behalf) or the registered
broker-dealer or investment adviser (as applicable) has sufficient information to evaluate, and does, in fact, evaluate, your financial
circumstances and sophistication, in determining your status as an accredited or sophisticated investor)

 

If so, please name the individual or other
person or entity with whom you have a pre-existing, substantive relationship and describe the relationship:

 

______________________________________________________________________________________

 

______________________________________________________________________________________

 

    - 42 -

     

    

 

17. Exceptions to the representations
and warranties made in Section 3.2 of the Securities Purchase Agreement (if no exceptions, write “none” – if
left blank, the response will be deemed to be “none”): ___________________________________________________

 

_____________________________________________________________________________

 

Dated: __________________, 2017

 

If purchaser is one or more individuals (all individuals must
sign):

 

 

 

(Type or print name of prospective purchaser)

 

 

 

Signature of prospective purchaser

 

 

 

Social Security Number

 

 

 

(Type or print name of additional purchaser)

 

 

 

Signature of spouse, joint tenant, tenant in common or other
signature, if required

 

 

 

Social Security Number

 

    - 43 -

     

    

Annex A

 

Definition of Accredited Investor

 

The securities will
only be sold to investors who represent in writing in the Securities Purchase Agreement that they are Accredited Investors, as
defined in Regulation D, Rule 501 under the Act, which definition is set forth below:

 

1. A natural person whose net worth, or
joint net worth with spouse, at the time of purchase exceeds $1 million (excluding primary residence as an asset, and excluding
indebtedness that is secured by a primary residence, up to the estimated fair market value of the primary residence at the time
of the sale of the Notes, as a liability (except that if the amount of such indebtedness outstanding at the time of sale of the
securities exceeds the amount outstanding 60 days before that time, other than as a result of the acquisition of the primary residence,
the amount of such excess shall be included as a liability)); or

 

2. A natural person whose individual gross
income exceeded $200,000 or whose joint income with that person’s spouse exceeded $300,000 in each of the last two years,
and who reasonably expects to exceed such income level in the current year; or

 

3. A trust with total assets in excess
of $5 million, not formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated
person described in Regulation D; or

 

4. A director or executive officer of the
Company; or

 

5. The investor is an entity, all of the
owners of which are Accredited Investors; or

 

6. (a) bank as defined in Section 3(a)(2)
of the Act, or any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Act, (b) any broker
or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934, (c) an insurance Company as defined in Section
2(13) of the Act, (d) an investment Company registered under the Investment Company Act of 1940 or a business development Company
as defined in Section 2(a)(48) of such Act, (e) a Small Business Investment Company licensed by the United States Small Business
Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958, (f) an employee benefit plan established
and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions,
if such plan has total assets in excess of $5 million, (g) an employee benefit plan within the meaning of Title I of the Employee
Retirement Income Securities Act of 1974, and the employee benefit plan has assets in excess of $5 million, or the investment decision
is made by a plan fiduciary, as defined in Section 3(21) of such act, that is either a bank, savings and loan institution, insurance
Company, or registered investment advisor, or, if a self-directed plan, with an investment decisions made solely by persons that
are Accredited Investors,

 

7. a private business development company
as defined in Section 202(a)(22) of the Investment Advisers Act of 1940, or

 

8. an organization described in Section
501(c)(3) of the Internal Revenue code, corporation, Massachusetts or similar business trust, or partnership, not formed for the
specific purpose of acquiring the securities offered, with total assets in excess of $5 million.

 

    - 44 -

     

    

 

EXHIBIT “A” TO ACCREDITED INVESTOR
QUESTIONNAIRE

 

ACCREDITED CORPORATIONS, PARTNERSHIPS,
LIMITED LIABILITY COMPANIES, TRUSTS OR OTHER ENTITIES INITIALING QUESTION 8B(xi) MUST PROVIDE THE FOLLOWING INFORMATION.

 

I hereby certify that set forth below
is a complete list of all equity owners in __________________ [NAME OF ENTITY], a ____________________ [TYPE OF ENTITY]
formed pursuant to the laws of the State of . I also certify that EACH SUCH OWNER HAS INITIALED THE SPACE OPPOSITE HIS OR
HER NAME and that each such owner understands that by initialing that space he or she is representing that he or she is
an accredited individual investor satisfying the test for accredited individual investors indicated under “Definition
of Accredited Investor.”

 

	 	 
	 	signature of authorized corporate officer, general partner or trustee

 

	Name of Equity Owner	 	Type of Accredited
    Investor1

 

1.
______________________________________________________________________________________________

2. ______________________________________________________________________________________________ 

3. ______________________________________________________________________________________________

4. ______________________________________________________________________________________________ 

5. ______________________________________________________________________________________________

6. ______________________________________________________________________________________________ 

7. ______________________________________________________________________________________________

8. ______________________________________________________________________________________________ 

9. ______________________________________________________________________________________________

10. _____________________________________________________________________________________________

 

 

1 Indicate which Subparagraph of 8.1 - 8.3 the equity
owner satisfies.

 

 

- 45 -Exhibit
10.4.2

 

NEITHER
THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A
LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO BORROWER.
THIS SECURITY AND THE SECURITIES ISSUABLE UPON CONVERSION OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN
ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR”
AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

Original
Issue Date: December 29, 2017

 

Principal
Amount: $____

 

SECURED
CONVERTIBLE NOTE

DUE
DECEMBER __, 2018

 

THIS
CONVERTIBLE NOTE is one of a series of duly authorized and validly issued Notes of MEDYMATCH TECHNOLOGY LTD., a company
incorporated under the laws of the State of Israel (the “Borrower”), having its principal place of business
at 76 Yigal Alon Street, Floor 5, Tel Aviv, Israel 6706701, due December 29, 2018,
subject to acceleration and extension as described herein (this note, the “Note” and, collectively with
the other notes of such series, the “Notes”).

 

FOR
VALUE RECEIVED, Borrower promises to pay to ___ or its registered assigns (the “Holder”), with an address at:
____, Fax: ____, or
shall have paid pursuant to the terms hereunder, the principal sum of ______ Dollars
($____) on _____ (the
“Maturity Date”) or such earlier date as this Note is required or permitted to be repaid or such later date
if extended by the Borrower as provided hereunder, and to pay interest to the Holder on the aggregate unconverted and then outstanding
principal amount of this Note in accordance with the provisions hereof.

 

The
Holder of this Note has been granted security interests in assets of Borrower, as described in Section 9 below.

 

This
Note is subject to the following additional provisions:

 

Section
1. Definitions. For the purposes hereof, in addition to the terms defined elsewhere in this Note, (a) capitalized terms
not otherwise defined herein shall have the meanings set forth in the Purchase Agreement and (b) the following terms shall have
the following meanings:

 

“Bankruptcy
Event” means any of the following events: (a) Borrower or any material Subsidiary thereof commences a case or other
proceeding under any bankruptcy, reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or
liquidation or similar law of any jurisdiction relating to Borrower or any material Subsidiary thereof, (b) there is commenced
against Borrower or any material Subsidiary thereof any such case or proceeding that is not dismissed within 60 days after commencement,
(c) Borrower or any material Subsidiary thereof is adjudicated insolvent or bankrupt or any order of relief or other order approving
any such case or proceeding is entered, (d) Borrower or any material Subsidiary thereof suffers any appointment of any custodian
or the like for it or any substantial part of its property that is not discharged or stayed within 45 calendar days after such
appointment, (e) Borrower or any material Subsidiary thereof makes a general assignment for the benefit of creditors, (f) Borrower
or any material Subsidiary thereof calls a meeting of its creditors with a view to arranging a composition, adjustment or restructuring
of its debts, or (g) Borrower or any material Subsidiary thereof expressly indicates its consent to, approval of or acquiescence
in any of the foregoing or takes any corporate or other action for the purpose of effecting any of the foregoing.

 

    

     

    

 

“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States, or
any day on which banking institutions in the State of New York are required by law or other governmental action to close.

 

“Change
of Control Transaction” means, other than by means of conversion or exercise of the Notes and the Securities issued
together with the Notes, the occurrence after the date hereof of any of (a) an acquisition after the date hereof by an individual
or legal entity or “group” (as described in Rule 13d-5(b)(1) promulgated under the Exchange Act) of effective control
(whether through legal or beneficial ownership of share capital of Borrower, by contract or otherwise) of in excess of 50% of
the voting securities of Borrower, (b) Borrower merges into or consolidates with any other Person, or any Person merges into or
consolidates with Borrower and, after giving effect to such transaction, the shareholders of Borrower immediately prior to such
transaction own less than 50% of the aggregate voting power of Borrower or the successor entity of such transaction, (c) Borrower
sells or transfers all or substantially all of its assets to another Person and the shareholders of Borrower immediately prior
to such transaction own less than 50% of the aggregate voting power of the acquiring entity immediately after the transaction,
(d) a replacement at one time or within a three year period of more than one-half of the members of the Board of Directors which
is not approved by a majority of those individuals who are members of the Board of Directors on the Original Issue Date (or by
those individuals who are serving as members of the Board of Directors on any date whose nomination to the Board of Directors
was approved by a majority of the members of the Board of Directors who are members on the date hereof), or (e) the execution
by Borrower of an agreement to which Borrower is a party or by which it is bound, providing for any of the events set forth in
clauses (a) through (d) above.

 

“Collateral”
shall have the meaning set forth in Section 9(a).

 

“Conversion
Price” shall have the meaning set forth in Section 4(a).

 

“Conversion
Shares” means, collectively, the Ordinary Shares issuable upon conversion of this Note in accordance with the terms
hereof.

 

“Equity
Conditions” means, at the time in question, unless waived by the Holder, (a) Borrower shall have paid all liquidated
damages and other amounts owing to the applicable Holder in respect of this Note and the other Transaction Documents, (b) there
is an effective registration statement in form and substance consistent with the requirements of the Registration Rights Agreements
pursuant to which, inter alia, the Holders and Investors (as defined in the Purchaser Registration Rights Agreement) are
permitted to utilize the prospectus thereunder to resell all of the Conversion Shares issuable pursuant to the Transaction Documents
and the other Initial Registrable Securities (as defined in the Purchaser Registration Rights Agreement) subject to any lockup
arrangements contemplated by the Transaction Documents and/or entered into by a Holder, and Company counsel has delivered to the
Company’s independent transfer agent in form and substance reasonably acceptable to such transfer agent and Holder a standing,
written opinion that resales may then be made by the Holder of all of the Holders Conversion Shares pursuant to such effective
registration statement, (c) the Ordinary Shares are listed or traded on a Trading Market or approved for listing or trading on
a Trading Market immediately upon the closing of the Qualified Offering, (d) there is a sufficient number of authorized, but unissued
and otherwise unreserved, Ordinary Shares for the issuance of all of the Conversion Shares under all of the Notes, (e) an Event
of Default has not occurred, whether or not such Event of Default has been cured, (f) there is no existing event which, with the
passage of time or the giving of notice, would constitute an Event of Default, (g) there has been no public announcement of a
pending or proposed Fundamental Transaction or Change of Control Transaction that has not been consummated, (h) the applicable
Holder is not in possession of any information provided by Borrower that constitutes, or may constitute, material non-public information
provided to the Holder by the Company, and (i) the Qualified Offering has occurred.

 

    - 2 -

     

    

 

“Event
of Default” shall have the meaning set forth in Section 8(a).

 

“Forward
Split” shall have the meaning set forth in Section 8(a)(xiii).

 

“Fully-Diluted
Basis” means the assumption that all options, warrants or other convertible securities or instruments or other rights
to acquire Ordinary Shares or any other existing or future classes of the share capital of Borrower have been exercised or converted,
as applicable, in full, regardless of whether any such options, warrants, convertible securities or instruments or other rights
are then vested or exercisable or convertible in accordance with their terms.

 

“Fundamental
Transaction” shall have the meaning set forth in Section 5.

 

“Interest
Payment Date” shall have the meaning set forth in Section 2(a).

 

“Mandatory
Conversion” shall have the meaning ascribed to such term in Section 4.

 

“Mandatory
Default Amount” means (a) 110% of the outstanding principal amount of this Note, plus (b) all interest and other amounts,
costs, expenses and liquidated damages due in respect of this Note.

 

“New
York Courts” shall have the meaning set forth in Section 9(d).

 

“Original
Issue Date” means the date of the first issuance of the Notes, regardless of any transfers of any Note and regardless
of the number of instruments which may be issued to evidence such Notes.

 

“Other
Holder” means a holder of one or more Other Notes (collectively, “Other Holders”).

 

“Other
Notes” means Notes identical to this Note issued to other Holders pursuant to the Purchase Agreement.

 

“Permitted
Indebtedness” means: (a) any liabilities for borrowed money or amounts owed not in excess of $250,000 in the aggregate
(other than accounts payable to suppliers and service providers and insurance premium financing incurred in the ordinary course
of business including commissions and offering expenses incurred in connection with the Qualified Offering all of which shall
be deemed Permitted Indebtedness); (b) all guaranties, endorsements and other contingent obligations in respect of indebtedness
of others, whether or not the same are or should be reflected in the Company’s consolidated balance sheet (or the notes
thereto) not affecting more than $250,000 in the aggregate, except guaranties by endorsement of negotiable instruments for deposit
or collection or similar transactions in the ordinary course of business; (c) the present value of any lease payments not in excess
of $250,000 due under leases required to be capitalized in accordance with GAAP; (d) any liabilities for borrowed money that are
junior to this Note pursuant to an intercreditor agreement acceptable to Holders of a majority of the outstanding amounts of this
Note and the Other Notes and the holders of which are not granted any security interest; (e) liabilities for deferred compensation
in the amount set forth on Schedule 3.1(i) to the Purchase Agreement; and (f) liabilities under Other Notes or pursuant to the
Exigent Option.

 

    - 3 -

     

    

 

“Permitted
Lien” means the individual and collective reference to the following: (a) Liens for taxes, assessments and other governmental
charges or levies not yet due or Liens for taxes, assessments and other governmental charges or levies being contested in good
faith and by appropriate proceedings for which adequate reserves (in the good faith judgment of the management of Borrower) have
been established in accordance with GAAP; (b) Liens imposed by law which were incurred in the ordinary course of Borrower’s
business, such as carriers’, warehousemen’s and mechanics’ Liens, statutory landlords’ Liens, and other
similar Liens arising in the ordinary course of Borrower’s business, and which (x) do not individually or in the aggregate
materially detract from the value of such property or assets or materially impair the use thereof in the operation of the business
of Borrower and its consolidated Subsidiaries, or (y) are being contested in good faith by appropriate proceedings, which proceedings
have the effect of preventing for the foreseeable future the forfeiture or sale of the property or asset subject to such Lien;
(c) Liens in connection with Permitted Indebtedness under clauses (a), (b) and (f) thereunder, and Liens incurred in connection
with Permitted Indebtedness under clause (c) thereunder, provided that such Liens are not secured by assets of Borrower or its
Subsidiaries other than the assets so acquired or leased; and (d) Liens referred to in Section 9(b)(i) below.

 

“Purchase
Agreement” means the Securities Purchase Agreement, dated as of December ___, 2017 among Borrower and the Purchasers
(as defined therein) (including the Holder), as amended, modified or supplemented from time to time in accordance with its terms.

 

“Qualified
Offering” means the consummation of a firm commitment initial public offering of the Borrower’s Ordinary Shares
which has an initial closing (if more than one) not later than the later of (i) June 30, 2018, and (ii) six (6) months after the
first Closing Date, at which initial closing the Borrower receives not less than $7,000,000 of gross cash proceeds (not including
conversion of the Notes or any other outstanding instrument) at a pre-money valuation of the Borrower of not less than $50,000,000
on a Fully-Diluted Basis, in connection with which immediately upon the closing the Borrower’s Ordinary Shares including
the Conversion Shares are listed for trading on a Trading Market and the Ordinary Shares are registered pursuant to Section 12(b)
or Section 12(g) under the Exchange Act, and which offering is made pursuant to a prospectus included in a S-1 registration statement
filed with and declared effective by the Commission.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Security
Interests” shall have the meaning set forth in Section 9(a).

 

“Trading
Market” means any of the following markets or exchanges: the NYSE MKT LLC, the Nasdaq Capital Market, the Nasdaq Global
Market, the Nasdaq Global Select Market, and the New York Stock Exchange (or any successors to any of the foregoing).

 

    - 4 -

     

    

 

Section
2. Interest.

 

a)Interest
in Cash. The outstanding principal amount of this Note shall bear simple monthly interest at the annual rate of five percent
(5%) (subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Any such interest
shall be payable on the Maturity Date when all amounts outstanding in connection with this Note shall be due and payable (the
“Interest Payment Date”) (if any Interest Payment Date is not a Business Day, the interest payment shall be
due on the next succeeding Business Day) in cash. In the event of a Mandatory Conversion, interest shall be converted to Ordinary
Shares at the same Conversion Rate as the principal.

 

b)Payment
Grace Period. Except as set forth herein, the Borrower shall not have any grace period to pay any monetary amounts due under
this Note.

 

c) Conversion
Privileges. This Note shall be payable in full on the Maturity Date, unless previously converted into Ordinary Shares in accordance
with Section 4 hereof.

 

d) Application
of Payments. Interest on this Note shall be calculated on the basis of a 360-day year and the actual number of days elapsed.
Payments made in connection with this Note shall be applied first to amounts due hereunder other than principal and interest,
thereafter to interest and finally to principal.

 

e) Pari
Passu. Except as otherwise set forth herein, all payments made on this Note and the Other Notes, all of the Security Interests
granted to the Holder and the Other Holders, and all actions taken by the Borrower with respect to this Note and the Other Notes,
including but not limited to Mandatory Conversion and extension of the Maturity Date, shall be made, granted and taken, as the
case may be, pari passu with respect to this Note and the Other Notes.

 

f)Manner
and Place of Payment. Principal and interest on this Note and other payments in connection with this Note shall be payable
at the Holder’s offices as designated above in lawful money of the United States of America in immediately available funds
without set-off, deduction or counterclaim other than withholding as may be required under applicable law. Upon assignment of
the interest of Holder in this Note, Borrower shall instead make its payment pursuant to the assignee’s instructions upon
receipt of written notice thereof. Except as set forth herein, this Note may not be prepaid or mandatorily converted without the
consent of the Holder.

 

g)Extension
of Maturity Date. Unless an Event of Default which has not been cured during the applicable cure period or an event which
with the passage of time or the giving of notice could become an Event of Default, has occurred or is pending, or a Fundamental
Transaction has occurred or is contemplated by Borrower, Borrower, by written notice to the Holder of this Note and the Other
Notes, given at any time prior to sixty (60) calendar days before the then in effect Maturity Date may, at the Borrower’s
discretion, extend the Maturity Date one time up to sixty (60) days. During such extension period, interest shall accrue on this
Note at the annual rate of twelve percent (12%). The Maturity Date may not be extended beyond the date of a Fundamental Transaction.

 

h)Acceleration
of Maturity Date. The Maturity Date of the Note shall be automatically accelerated to immediately prior to the occurrence
of a Fundamental Transaction.

 

    - 5 -

     

    

 

Section
3. Registration of Transfers and Exchanges.

 

a)
Different Denominations. This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized
denominations, as requested by the Holder surrendering the same. No service charge will be payable for such registration of transfer
or exchange.

 

b)
Investment Representations. This Note has been issued subject to certain investment representations of the original Holder
set forth in the Purchase Agreement and may be transferred or exchanged only in compliance with the Purchase Agreement and applicable
federal and state securities laws and regulations.

 

c)
Reliance on Note Register. Prior to due presentment for transfer to Borrower of this Note, Borrower and any agent of Borrower
may treat the Person in whose name this Note is duly registered on the note register of the Borrower as the owner hereof for the
purpose of receiving payment as herein provided and for all other purposes, whether or not this Note is overdue, and neither Borrower
nor any such agent shall be affected by notice to the contrary.

 

Section
4. Mandatory Conversion.

 

a)
Mandatory Conversion. Provided all of the Equity Conditions are satisfied prior to
or simultaneously with the Qualified Offering then the outstanding principal and accrued interest on this Note and all of the
Other Notes shall automatically convert without the requirement of any further action on behalf of the Holder, into Ordinary Shares
of the Borrower at a conversion price (the “Conversion Price”) representing the lesser of (i) the pre-money
valuation of the Borrower on a Fully Diluted Basis of $42,500,000 immediately prior to the cashless exercise of any outstanding
Series A warrants of the Company identified in Schedule 3.1(g) to the Purchase Agreement and the Qualified Offering, or (ii) 85%
of the valuation of the Borrower in the Qualified Offering (such conversion being the “Mandatory Conversion”).
In the aggregate, the Conversion Shares issuable to the Holder and Other Holders upon Mandatory Conversion shall represent not
less than the amount of the outstanding equity of the Borrower on a Fully Diluted Basis immediately subsequent to the Mandatory
Conversion as set forth on Schedule 1 hereto, excluding from such calculation shares underlying restricted share units
to be granted to members of senior management of the Borrower in amounts no greater than those shown on Schedule 1. Not
later than the closing of the Qualified Offering, the Borrower will deliver to Holder a certificate from the Borrower’s
transfer agent evidencing the electronic issuance to the Holder of the Conversion Shares on the Borrower’s electronic shareholders
stock ledger maintained by such transfer agent. In the event Borrower fails to deliver to the Holder the foregoing certificate,
the Mandatory Conversion shall not occur. Upon Mandatory Conversion of this Note pursuant to this Section 4, all amounts due hereunder
shall be satisfied, discharged and deemed to have been repaid in full, and any outstanding monetary obligations of the Borrower
towards the Holder hereunder shall be deemed satisfied in full.

 

b)
Reservation of Shares Issuable Upon Conversion. Borrower covenants that it will at all times reserve and keep available
out of its authorized and unissued Ordinary Shares for the sole purpose of issuance upon conversion of this Note as herein provided,
free from preemptive rights or any other actual contingent purchase rights of Persons other than the Holder (and the Other Holders),
not less than such aggregate number of shares of the Ordinary Shares as shall (subject to the terms and conditions set forth in
the Purchase Agreement) be issuable upon the conversion of the then outstanding principal amount of this Note and interest which
has accrued and would accrue on such principal amount, assuming such principal amount was not converted through six (6) months
after the Original Issue Date. Borrower covenants that all Ordinary Shares that shall be so issuable shall, upon issue, be duly
authorized, validly issued, fully paid and nonassessable.

 

    - 6 -

     

    

 

c)
Fractional Shares. No fractional shares or scrip representing fractional shares shall be issued upon the conversion of
this Note. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such conversion, Borrower
shall at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied
by the Conversion Price or round up to the next whole share.

 

d)
Transfer Taxes and Expenses. The issuance of certificates for shares of the Ordinary Shares on conversion of this Note
shall be made without charge to the Holder hereof for any documentary stamp or similar taxes that may be payable in respect of
the issue or delivery of such certificates, provided that, Borrower shall not be required to pay any tax that may be payable in
respect of any transfer involved in the issuance and delivery of any such certificate upon conversion in a name other than that
of the Holder of this Note so converted and Borrower shall not be required to issue or deliver such certificates unless or until
the Person or Persons requesting the issuance thereof shall have paid to Borrower the amount of such tax or shall have established
to the satisfaction of Borrower that such tax has been paid.

 

Section
5. Fundamental Transaction. If, at any time while this Note is outstanding, Borrower, directly or indirectly, effects
any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one
or a series of related transactions, or a Change of Control Transaction occurs (each, a
“Fundamental Transaction”), the Borrower will provide notice to Holder of such Fundamental Transaction not
less than fifteen (15) Business Days prior to the consummation of such Fundamental Transaction. Holder may accelerate the Maturity
Date of this Note to be contemporaneous with the consummation of the Fundamental Transaction immediately upon which Borrower will
pay to Holder all outstanding principal, interest and other sums payable in connection with this Note. In the event the consideration
to be received by the Borrower or holders of Borrower’s Ordinary Shares and Ordinary Share Equivalents is $60,000,000 or
less, then the principal amount of this Note shall be automatically increased to 175% of the principal amount outstanding immediately
prior to the consummation of the Fundamental Transaction. If the consideration to be received by the Borrower or holders of Borrower’s
Ordinary Shares and Ordinary Share Equivalents is greater than $60,000,000, then the principal amount of this note shall be increased
to 175% of the principal amount outstanding immediately prior to the consummation of the Fundamental Transaction and an additional
amount equal to the product of (a) Holder’s pro rata portion of the outstanding principal amounts of this Note and the Other
Notes, and (b) the amount equal to 13% of the consideration to be received by the Borrower or holders of Borrower’s Ordinary
Shares and Ordinary Share Equivalents in excess of $60,000,000. The consideration to be received by Borrower or holders of Borrower’s
Ordinary Shares and Ordinary Share Equivalents at any time from the counter-parties to the Fundamental Transaction and directly
or indirectly in connection with the Fundamental Transaction may include, but not be limited to, without duplication, all remuneration
for tangible and intangible assets such as furniture, equipment, supplies, inventory, working capital, receivables, noncompetition
agreements, intellectual property, goodwill, employment and/or consultation agreements (not including post-closing employment
arrangements for which employees and consultants receive compensation reasonably consistent with their pre-Fundamental Transactions
compensation and a reasonable “signing bonus” or other retention mechanism), licenses, customer lists, franchise fees,
assumed liabilities, shares, share options, share redemptions, real estate and leases, royalties, contingent consideration, earn-outs
and future considerations payable to Borrower or holders of Borrower’s Ordinary Shares and Ordinary Share Equivalents, in
each case to the extent actually received by Borrower at the time of the closing of such Fundamental Transaction or subsequent
thereto. 

 

Section
6.Prepayment. The Note may not be paid prior to the Maturity Date without the consent of the Holder, which may
be withheld for any reason.

 

    - 7 -

     

    

 

Section
7. Negative Covenants. As long as any principal or interest amount of this Note and the Other Notes remains outstanding,
unless the Majority in Interest shall have otherwise given prior written consent, Borrower shall not, and shall not permit any
of the Subsidiaries to, directly or indirectly:

 

a)
 other than Permitted Indebtedness, enter into, create, incur, assume or guarantee any
indebtedness for borrowed money of any kind, including, but not limited to, a guarantee, on or with respect to any of its property
or assets now owned or hereafter acquired or any interest therein or any income or profits therefrom;

 

b) other
than Permitted Liens, and the security interest granted to the Holder of this Note and the Other Notes, enter into, create, incur
or assume any Liens of any kind, on or with respect to any of its property or assets now owned or hereafter acquired or any interest
therein or any income or profits therefrom;

 

c) except
with respect to the Forward Split, amend its charter documents, including, without limitation, its Articles of Association, in
any manner that materially and adversely affects any rights of the Holder except as described in the Purchase Agreement;

 

d) repay,
repurchase or offer to repay, repurchase or otherwise acquire more than a de minimis amount of its Ordinary Shares or Ordinary
Shares Equivalents;

 

e) redeem,
defease, repurchase, repay or make any payments in respect of, by the payment of cash or cash equivalents (in whole or in part,
whether by way of open market purchases, tender offers, private transactions or otherwise), all or any portion of any Indebtedness,
whether by way of payment in respect of principal of (or premium, if any) or interest on, such Indebtedness other than (x) scheduled
payments on Permitted Indebtedness, and (y) payment of amounts required to be paid under the Transaction Documents, the foregoing
restriction shall also apply to Permitted Indebtedness on their unamended terms from and after the occurrence of an Event of Default;

 

f) declare
or make any dividend or other distribution of its assets or rights to acquire its assets to holders of Ordinary Shares, preferred
shares, or any other equity security by way of return of capital or otherwise including, without limitation, any distribution
of cash, shares or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement,
scheme of arrangement or other similar transaction;

 

g) enter
into any transaction with any Affiliate of Borrower which would be required to be disclosed in any registration statement that
is required to be filed pursuant to the Transaction Documents with the Commission, unless such transaction is made on an arm’s-length
basis and expressly approved by a majority of the disinterested directors of Borrower (even if less than a quorum otherwise required
for board approval); or

 

h) enter
into any agreement with respect to any of the foregoing.

 

Section
8. Events of Default.

 

a)
“Event of Default” means, wherever used herein, any of the following events (whatever the reason for such event
and whether such event shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or
order of any court, or any order, rule or regulation of any administrative or governmental body):

 

i.
any default in the payment of (A) the principal or interest amount of this Note, or (B) liquidated damages pursuant to any Transaction
Document and other amounts owing to a Holder on any Note, as and when the same shall become due and payable (whether on the Conversion
Date or the Maturity Date or by acceleration or otherwise) which default, solely in the case of a default under clause (B) above,
is not cured within ten (10) Business Days after Borrower has become aware of such default;

 

    - 8 -

     

    

 

ii.
Borrower shall fail to observe or perform any other covenant or agreement contained in the Notes, which failure is not cured,
if possible to cure, within the earlier to occur of (A) seven (7) Business Days after written notice of such failure sent by the
Holder or by any Other Holder to Borrower, and (B) ten (10) Business Days after Borrower has become aware of such failure;

 

iii.
a material default or event of default (subject to any grace or cure period provided in the applicable agreement, document or
instrument) shall occur under any of the Transaction Documents including but not limited to a Registration Failure (as defined
in the Purchaser Registration Rights Agreement) with respect ,but not limited, to the Private Purchase Shares (as defined in the
Purchaser Registration Rights Agreement) included in the Initial Registrable Securities (as defined in the Registration Rights
Agreement);

 

iv. any
representation or warranty made by the Borrower in this Note or any other Transaction Document shall be untrue or incorrect in
any material respect as of the date when made or deemed made; 

 

v.
Borrower or any material Subsidiary shall be subject to a Bankruptcy Event;

 

vi.
Borrower or any Subsidiary shall default on any of its payment obligations under any mortgage, credit agreement or other facility,
indenture agreement, factoring agreement or other instrument under which there may be issued, or by which there may be secured
or evidenced, any indebtedness for borrowed money or money due under any long term leasing or factoring arrangement that (a) involves
an obligation greater than $100,000, whether such indebtedness now exists or shall hereafter be created, and (b) results in such
indebtedness becoming or being declared due and payable prior to the date on which it would otherwise become due and payable;

 

vii. Reserved.

 

viii Borrower
shall fail for any reason to deliver the certificates described in Section 4 of this Note to Holder within five (5) Business Days
following the Mandatory Conversion;

 

ix.
the Company shall breach any material term of any agreement delivered to the initial Holders pursuant to Section 2.2(a) of the
Purchase Agreement, except for any breach which would not reasonably be expected to result in a Material Adverse Effect;

 

x.
any final monetary judgment, writ or similar final process shall be entered or filed against Borrower, any subsidiary or any of
their respective property or other assets for more than $100,000, and such judgment, writ or similar final process shall remain
unvacated, unbonded or unstayed for a period of 45 calendar days;

 

xi. any
dissolution, liquidation or winding up by Borrower or a material Subsidiary of a substantial portion of their business;

 

xii.cessation
of operations by Borrower or a material Subsidiary;

 

    - 9 -

     

    

 

xiii. the
Borrower effectuates a forward or reverse split of its Ordinary Shares without ten (10) calendar days prior written notice to
the Holder, provided that this clause xiii shall not apply to a forward share split in the range of 9:1 to 11:1 currently anticipated
by Borrower in connection with the Qualified Offering (“Forward Split”);

 

xiv.the
occurrence of an Event of Default under any Other Note;

 

xv.any
material provision of any Transaction Document shall at any time for any reason (other than pursuant to the express terms thereof)
cease to be valid and binding on or enforceable against the Borrower, or the validity or enforceability thereof shall be contested
by Borrower, or a proceeding shall be commenced by Borrower or any governmental authority having jurisdiction over Borrower or
Holder, seeking to establish the invalidity or unenforceability thereof, or Borrower shall deny in writing that it has any liability
or obligation purported to be created under any Transaction Document;

 

xvi.the
failure by Borrower or any material Subsidiary to maintain any intellectual property rights, personal, real property, equipment,
leases or other assets which are necessary to conduct its business (whether now or in the future) which failure would reasonably
be expected to result in a Material Adverse Effect and such breach is not cured with thirty (30) days after the first day of such
occurrence; or

 

xvii.the
restatement after the date hereof of any Financial Statements delivered to Holder pursuant to the Purchase Agreement, if the result
of such restatement would, by comparison to the unrestated financial statements, constitute a Material Adverse Effect. For the
avoidance of doubt, any restatement related to new accounting pronouncements shall not constitute a default under this Section.

 

In
the event more than one grace, cure or notice period is applicable to an Event of Default, then the shortest grace, cure or notice
period shall be applicable thereto.

 

b)
Remedies Upon Event of Default. If any Event of Default exists, the outstanding principal amount of this Note, liquidated
damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the election of the Majority
in Interest, immediately due and payable in cash at the Mandatory Default Amount. Commencing on the Maturity Date and also five
(5) days after the occurrence of any Event of Default interest on this Note shall accrue at an interest rate equal to the lesser
of 12% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount,
the Holder shall promptly surrender this Note to, or as directed by, Borrower. In connection with such acceleration described
herein, the Holder need not provide, and Borrower hereby waives, any presentment, demand, protest or other notice of any kind,
and the Holder may immediately (but subject to expiration of any grace, notice or cure period under Section 8(a) above) enforce
any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration
may be rescinded and annulled by Holder with respect to itself only or the Majority in Interest with respect to the Holder and
Other Holders at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Note until such time,
if any, as the Holder receives full payment pursuant to this Section 8(b). No such rescission or annulment shall affect any subsequent
Event of Default or impair any right consequent thereon.

 

    - 10 -

     

    

 

Section
9.Security Interest/Waiver of Automatic Stay.

 

a) As
collateral security for the full repayment or conversion of the outstanding principal,
accrued interest and any other sums payable in connection herewith, this Note
is secured by security interests granted to the Holder pursuant to the Security Agreements, as delivered by Borrower to Holder,
as follows (the “Security Interests”): (i)
a first ranking security interest by way of a floating charge in all of the Borrower’s right, title, and interest in and
to the collateral set forth in the Security Agreement (Floating Charge), and (ii) a first ranking security interest by way of
a fixed charge in all of the Borrower’s right, title, and interest in and to the collateral set forth in the Security Agreement
(Fixed Charge) (the collateral set forth in (i) and (ii) above, collectively, the “Collateral”).

 

b) The
Borrower hereby undertakes to the Holder:

 

(i)to
take all action required to execute, file and deliver all necessary documents and applications
to perfect and record the registration of the Collateral on the initial Closing Date, and, to the extent the Holder is
participating in a Closing subsequent to the initial Closing, to perfect and record amendments
to such registration in accordance with the Security Agreements on the Closing Date of such Closing in order to record the Holder
as an additional beneficiary of the Collateral, in each case by no later than twenty-one (21) days after the applicable date,
with the Israel Registrar of Companies, the Israel Patent Office, the United States Patent and Trademark Office and the European
Patent Office or in any relevant jurisdiction, as applicable, including without limitation the Security Agreements annexed hereto
as Exhibit C, and the applicable filings annexed hereto as Exhibit C-1, and to provide the Holder with evidence
of said registration; and

 

(ii)to
the extent the Holder is participating in the initial Closing, to provide such Holder, on or prior to the initial Closing Date,
with any necessary termination agreements or notices required to be filed with the applicable governmental authorities for the
removal of any and all outstanding security interests on the Borrower’s assets, including, without limitation, with respect
to those certain security interests on the Borrower’s assets held by Exigent, and if applicable, Eugene Saragnese and Reuven
Raz.

 

c) Upon
conversion and repayment of all amounts due under the Notes, the monetary obligations of the Borrower towards the Holder hereunder
with respect to principal, interest and liquidated damages, if any, shall be deemed satisfied in full and the Holder shall promptly
take all action necessary to release the Collateral from the Security Interests, including the execution and delivery of termination
agreements and any notices required to be filed with the applicable governmental authorities to effect the foregoing.

 

d) 
The Borrower acknowledges and agrees that should a proceeding under any bankruptcy or insolvency law be commenced by or against
the Borrower or a Subsidiary, or if any of the Collateral should become the subject of any bankruptcy or insolvency proceeding,
then the Holder should be entitled to, among other relief to which the Holder may be entitled under the Transaction Documents,
the Security Agreements and any other agreement to which the Borrower or a Subsidiary and Holder are parties (collectively, “Loan
Documents”) and/or applicable law, an order from the court granting immediate relief from any automatic stay available
to Borrower to permit the Holder to exercise all of its rights and remedies pursuant to the Loan Documents and/or applicable law.
The Borrower hereby consents to any motion for relief from stay that may be filed by the Holder in any bankruptcy or insolvency
proceeding initiated by or against the Borrower and, further, agrees not to file any opposition to any motion for relief from
stay filed by the Holder. The Borrower represents, acknowledges and agrees that this provision is a specific and material aspect
of the Loan Documents, and that the Holder would not agree to the terms of the Loan Documents if this waiver were not a part of
this Note. The Borrower further represents, acknowledges and agrees that is waiver is knowingly, intelligently and voluntarily
made, that neither the Holder nor any person acting on behalf of the Holder has made any representations to induce this waiver,
that the Borrower has been represented (or has had the opportunity to by represented) in the signing of this Note and the Loan
Documents and in the making of this waiver by independent legal counsel selected by the Borrower and that the Borrower has discussed
this waiver with counsel.

 

    - 11 -

     

    

 

Section
10. Miscellaneous.

 

a)
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid,
or (iv) transmitted by hand delivery, telegram, email or facsimile, addressed as set forth below or to such other address as such
party shall have specified most recently by written notice. Any notice or other communication required or permitted to be given
hereunder shall be deemed effective (a) upon hand delivery or delivery by email or facsimile, with accurate confirmation generated
by the transmitting facsimile machine, at the address or number designated below (if delivered on a business day during normal
business hours where such notice is to be received), or the first business day following such delivery (if delivered other than
on a business day during normal business hours where such notice is to be received) or (b) on the second business day following
the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing,
whichever shall first occur. The addresses for such communications shall be: (i) if to Borrower, to: MedyMatch Technology Ltd.,
76 Yigal Alon Street, Floor 5, Tel Aviv, Israel 6706701, Attn: Michael Rosenberg, co-Founder & CFO, email: mrosenberg@medymatch.com
with a copy by fax or email only to (which shall not constitute notice): Meitar Liquornik Geva Leshem Tal, Law Offices,
16 Abba Hillel Silver Road, Ramat Gan 5250608, Israel, Attn: David S. Glatt, Adv., facsimile: (972) 3-610-3111, email: dglatt@meitar.com,
and (ii) if to the Holder, to: the address, fax number and email address indicated on the front page of this Note, with an additional
copy by fax or email only to (which shall not constitute notice): Grushko & Mittman, P.C., 515 Rockaway Avenue, Valley Stream,
New York 11581, facsimile: (212) 697-3575, email: ed@grushkomittman.com.

 

b)
Absolute Obligation. Except as expressly provided herein, no provision of this Note shall alter or impair the obligation
of Borrower, which is absolute and unconditional, to pay the principal of, liquidated damages and accrued interest, as applicable,
on this Note at the time, place, and rate, and in the coin or currency, herein prescribed. This Note is a direct debt obligation
of Borrower. This Note ranks pari passu with all other Notes now or hereafter issued under the terms set forth herein pursuant
to the Purchase Agreement.

 

c)
Lost or Mutilated Note. If this Note shall be mutilated, lost, stolen or destroyed, Borrower shall execute and deliver,
in exchange and substitution for and upon cancellation of a mutilated Note, or in lieu of or in substitution for a lost, stolen
or destroyed Note, a new Note for the principal amount of this Note so mutilated, lost, stolen or destroyed, but only upon receipt
of evidence of such loss, theft or destruction of such Note, and of the ownership hereof, reasonably satisfactory to Borrower.

 

d)
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Note shall be
governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles
of conflict of laws thereof except as to these matters which are required by the laws of the state of Israel to be governed by
the laws of the State of Israel. Each party agrees that all legal proceedings concerning the interpretation, enforcement and defense
of the transactions contemplated by any of the Transaction Documents (whether brought against a party hereto or its respective
Affiliates, directors, officers, shareholders, employees or agents) shall be commenced in the state and federal courts sitting
in the City of New York, Borough of Manhattan (the “New York Courts”). Each party hereto hereby irrevocably
submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith
or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction
Documents), 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 such New York Courts, or such New York Courts are improper or inconvenient venue for
such proceeding. 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 via registered or certified mail or overnight delivery (with evidence
of delivery) to such party at the address in effect for notices to it under this Note 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 other manner permitted by applicable law. Each party hereto 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
Note or the transactions contemplated hereby. If any party shall commence an action or proceeding to enforce any provisions of
this Note, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorneys fees
and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding. This
Note shall be deemed an unconditional obligation of Borrower for the payment of money and, without limitation to any other remedies
of Holder, may be enforced against Borrower by summary proceeding pursuant to New York Civil Procedure Law and Rules Section 3213
or any similar rule or statute in the jurisdiction where enforcement is sought. For purposes of such rule or statute, any other
document or agreement to which Holder and Borrower are parties or which Borrower delivered to Holder, which may be convenient
or necessary to determine Holder’s rights hereunder or Borrower’s obligations to Holder are deemed a part of this
Note, whether or not such other document or agreement was delivered together herewith or was executed apart from this Note.

 

    - 12 -

     

    

 

e)
Waiver. Any waiver by Borrower or the Holder of a breach of any provision of this Note shall not operate as or be construed
to be a waiver of any other breach of such provision or of any breach of any other provision of this Note. The failure of Borrower
or the Holder to insist upon strict adherence to any term of this Note on one or more occasions shall not be considered a waiver
or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Note on any
other occasion. Any waiver by Borrower or the Holder must be in writing.

 

f)
Severability. If any provision of this Note is invalid, illegal or unenforceable, the balance of this Note shall remain
in effect, and if any provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all
other Persons and circumstances.

 

g)
Usury. If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law
governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate of interest
permitted under applicable law. Borrower covenants (to the extent that it may lawfully do so) that it shall not at any time insist
upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other
law which would prohibit or forgive Borrower from paying all or any portion of the principal of or interest on this Note as contemplated
herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this
Note, and Borrower (to the extent it may lawfully do so) hereby expressly waives all benefits or advantage of any such law, and
covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the
Holder, but will suffer and permit the execution of every such as though no such law has been enacted.

 

h)
Next Business Day. Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day,
such payment shall be made on the next succeeding Business Day.

 

i)
Headings. The headings contained herein are for convenience only, do not constitute a part of this Note and shall not be
deemed to limit or affect any of the provisions hereof.

 

j)
Amendment. Unless otherwise provided for hereunder or in the Purchase Agreement, this Note may not be modified or amended
or the provisions hereof waived without the written consent of Borrower and the Holder.

 

k)
Electronic Signature. In the event that the Borrower’s signature is delivered by facsimile transmission, PDF, electronic
signature or other similar electronic means, such signature shall create a valid and binding obligation of the Borrower with the
same force and effect as if such signature page were an original thereof.

 

l) Permitted
Transfers. Notwithstanding anything to the contrary herein or in the other Transaction Documents, Holder shall be entitled
to sell, transfer or otherwise dispose of this Note and any and all of its rights and obligations hereunder, in one or more occasions,
at its sole discretion, to and between its Affiliates and/or funds, special purpose vehicles, accounts, or other Persons who,
directly or indirectly, control or manage, are controlled or managed by, or are under common control with, Holder, provided such
transferees agree in writing to assume and be bound by all the duties and obligations of the Holder pursuant to the Transaction
Documents.

  

*********************

 

(Signature
Pages Follow)

 

    - 13 -

     

    

 

IN
WITNESS WHEREOF, Borrower has caused this Note to be signed in its name by an authorized officer as of the 29 day of
December, 2017.

 

	 	MEDYMATCH
    TECHNOLOGY LTD.
	 	 	 
	 	By:	 
	 	 	Name:
    Michael Rosenberg
	 	 	Title:
    co-Founder and CFO

 

WITNESS:

 

 

 

 

    - 14 -

     

    

 

Schedule
1

 

 

- 15 -

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