Document:

Exhibit 10.9

 

2019

 

 

 

 

CELLEBRITE MOBILE SYNCHRONIZATION LTD.

 

2019 SHARE OPTION PLAN

 

 

 

 

    

    

    

 

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TABLE OF CONTENTS

 

	 	 	Page
	1.	Purpose	1
	2.	Definitions	1
	3.	Administration of the Plan	4
	4.	Designation of Optionees	5
	5.	Shares subject to the plan	5
	6.	Term of Option	6
	7.	Option Exercise Price and Consideration	6
	8.	Vesting of the Options	6
	9.	Exercise of Option; Right as a Shareholder	7
	10.	Termination of Employment	10
	11.	Adjustments	12
	12.	Designation of Options Pursuant to Section 102	15
	13.	Trustee	16
	14.	Purchase For Investment; Limitations Upon IPO; Representations	17
	15.	Dividends	18
	16.	Restrictions On Assignability and Sale of Options/Shares	18
	17.	Amendment and Termination of the Plan	18
	18.	Integration of Section 102 And Tax Commissioner’s Permit	20
	19.	General Provisions	20
	20.	Date of Grant	21
	21.	Tax Consequences	22
	22.	Non-Exclusivity of the Plan	22
	23.	Inability to Obtain Authority	22
	24.	Multiple Agreements	22

 

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Cellebrite Mobile Synchronization LTD.

 

2019 SHARE OPTION PLAN

 

 

This plan, as amended from time
to time, shall be known as the Cellebrite Mobile Synchronization 2019 Share Option Plan (the “Plan”).

 

		1.	Purpose

 

The Plan is intended to increase shareholder
value and to advance the interests of the Company by furnishing economic incentives designed to provide an incentive to attract, motivate,
and retain, in the employ of the Company, persons of training, experience, and ability, to attract employees, directors, office holders,
consultants, service providers and any other entity which the Board or the Committee shall decide their services are considered valuable
to the Company, to encourage the sense of proprietorship of such persons, and to stimulate the active interest of such persons in the
development and financial success of the Company by providing them with opportunities to purchase shares in the Company, pursuant to the
Plan.

 

		2.	Definitions

 

For purposes of interpreting the Plan
and related documents (including the Option Agreement and its appendices), the following definitions shall apply:

 

		(a)	“Applicable Laws” - means the requirements relating to the administration of
employee stock share option plans under the laws of the State of Israel and any stock exchange or quotation system on which the shares
shall be listed or quoted.

 

		(b)	“Approved 102 Option” - means an Option issued pursuant to Section 102(b) of
the Tax Ordinance and held in trust by the Trustee for the benefit of the Optionee.

 

		(c)	“Board” - means the Board of Directors of the Company.

 

		(d)	“Cause”- unless defined otherwise in the Optionees’ Employment terms (which
in such event, such definition will apply), means, (i) conviction of any felony involving moral turpitude or affecting the Company; (ii)
any failure (as a result of gross negligence or willful misconduct) to carry out, as an employee of the Company or its Subsidiaries, a
reasonable directive of the chief executive officer of the Company, as applicable, the Board or the Optionee’s direct supervisor,
which involves the business of the Company or its Subsidiaries and which was capable of being lawfully performed by Optionee; (iii) embezzlement
or theft of funds of the Company or its Subsidiaries; (iv) any breach of the Optionee’s fiduciary duties or duties of care towards
the Company or of its Subsidiaries; including, without limitation, self-dealing, prohibited disclosure of confidential information of,
or relating to, the Company or its Subsidiaries, or engagement in any business competitive to the business of the Company; (v) any conduct
(other than conduct in good faith) reasonably determined by the Board to be materially detrimental to the Company; and (vi) any other
event defined as “Cause” under the Optionees’ employment or engagement agreement with the Company.

 

		(e)	“Chairman” - means the chairman of the Board.

 

		(f)	“Committee” shall mean a committee established or appointed by the Board to
administer this Plan, subject to Section 3.

 

		(g)	“Company” - shall mean Cellebrite Mobile Synchronization Ltd. P.C. 51-276657-7,
an Israeli corporation, and any successor thereto.

 

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		(h)	“Controlling Shareholder” - shall have the meaning ascribed to it in Section
32(9) of the Tax Ordinance.

 

		(i)	“Date of Grant”- shall have the meaning set forth in section 20 below.

 

		(j)	“Director” - means a member of the Board.

 

		(k)	“Disability” - unless defined otherwise in the Optionees’ Employment terms
(which in such event, such definition will apply), means an Optionee’s inability to perform his or her duties with the Company,
for a consecutive period of at least 120 days or for an aggregate period of 180 days in any 360 days, by reason of any medically determinable
physical or mental impairment, as determined by a physician selected by the Optionee and acceptable to the Company.

 

		(l)	“Effective Date” - shall mean the date on which the Plan is approved by the
Board.

 

		(m)	“Employee” – shall mean a person who is employed by the Company, including
an individual who is serving as a director or an office holder, but excluding a Controlling Shareholder.

 

		(n)	“Employment” - shall mean, for purposes of section 10, continuous and regular
salaried employment with the Company, which shall include (unless the Board shall otherwise determine) any period of paid vacation, paid
maternity leave in accordance with the law and any approved leave of absence which the Board has approved will not cease vesting.

 

		(o)	“Exercise Price” – shall mean the price for each Share subject to an Option.

 

		(p)	“Expiration Date” – Shall mean the date that the options can no longer
be exercisable as set forth in Section 6.

 

		(q)	“Fair Market Value” - means, as of any date, the value
of a Share determined as follows:

 

		(i)	If the Shares are listed on any established stock exchange or a national market system, their Fair Market
Value shall be the closing sales price for such Shares (or the closing bid, if no sales were reported) as quoted on such exchange or system
for the last market trading day prior to the time of determination;

 

		(ii)	In the absence of an established market for the Shares, the Fair Market Value thereof shall be determined
in good faith by the Board.

 

		(r)	“IPO” - means the Initial Public Offering of the Company’s shares pursuant
to a registration statement filed with and declared effective under the Israeli Securities Law, 1968, under the U.S. Securities Act of
1933, as amended, or under any similar law of any other jurisdiction.

 

		(s)	“Option” - shall mean the right to purchase the number of Shares specified by
the Board or the Committee, at a price and for the term fixed by the Board or the Committee in accordance with the Plan and subject to
any other limitations and restrictions as this Plan and the Board or the Committee shall impose.

 

		(t)	“Option Agreement” - means a written agreement between the Company and an Optionee
evidencing the terms and conditions of an individual Option issuance. The Option Agreement shall state, inter alia, the number of Shares
covered thereby, the dates when it may be exercised (subject to section 8), the Exercise Price per Share subject to the Option and such
other terms as the Board or the Committee in its discretion may prescribe. The Option Agreement is subject to the terms and conditions
of the Plan, unless otherwise specifically provided in such Option Agreement (provided that any deviation from the terms of this Plan
shall be, in case of 102 Options, in accordance with Section 102 of the Tax Ordinance).

 

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		(u)	“Optionee” - means any person who receives or holds an Option under the Plan.

 

		(v)	“Share” - shall mean the ordinary shares, nominal value NIS 0.00001 per share,
of the Company, as may be adjusted pursuant to section 11 of the Plan.

 

		(w)	“Successor Company” - means any entity into and with which the Company is merged
pursuant to a Transaction in which the Company is not the surviving entity.

 

		(x)	“Tax Ordinance” - means the Israeli Income Tax Ordinance [New Version]-1961
and the regulations, rules, orders or procedures promulgated thereunder as now in effect or as hereafter amended.

 

		(y)	“Transaction” – means (i) a sale of all or substantially all of the assets
of the Company, or a sale (including an exchange) of all or substantially all of the shares of the Company, to any person, or a purchase
by a shareholder of the Company or by an Affiliate of such shareholder, of all the shares of the Company held by all or substantially
all other shareholders or by other shareholders who are not Affiliated with such acquiring party; (ii) a merger (including, a reverse
merger and a reverse triangular merger), consolidation, amalgamation or like transaction of the Company with or into another corporation;
(iii) a scheme of arrangement for the purpose of effecting such sale, merger, consolidation, amalgamation or other transaction; (iv) approval
by the shareholders of the Company of a complete liquidation or dissolution of the Company, or (v) such other transaction or set of circumstances
that is determined by the Board, in its discretion, to be a transaction subject to the provisions of this definition excluding any of
the above transactions in clauses (i) through (v) if the Board determines that such transaction should be excluded from the definition
hereof and the applicability of this definition.

 

		(z)	“Trustee” - means any person or entity appointed by the Company to serve as
a trustee and approved according to applicable law.

 

		(aa)	“Vesting Dates” - means, with respect to any Option, the date as of which the
Optionee shall be entitled to exercise such Option, as set forth in section ‎8 of the Plan.

 

		(bb)	“Unapproved 102 Option” - means an Option issued pursuant to Section 102(c)
of the Tax Ordinance and not held in trust by a Trustee.

 

		(cc)	“102 Option” means an Option that the Board intends it to be a “102 Option”
which shall only be issued to Employees who are not Controlling Shareholders, and shall be subject to and construed consistently with
the requirements of Section 102 of the Tax Ordinance and as described hereunder. The Company shall have no liability to any other party,
if an Option (or any part thereof), which is intended to be a 102 Option, is not a 102 Option.

 

Approved 102 Options
may either be classified as Capital Gain Options (“CGO”) or Ordinary Income Options (“OIO”).

 

Approved 102 Options
elected and designated by the Company to qualify under the capital gain tax treatment in accordance with the provisions of Section 102(b)(2)
of the Tax Ordinance shall be referred to herein as CGO.

 

Approved 102 Options
elected and designated by the Company to qualify under the ordinary income tax treatment in accordance with the provisions of Section
102(b)(1) of the Tax Ordinance shall be referred to herein as OIO.

 

Unless otherwise
agreed by the Board or the Committee, the Company’s election of the type of Approved 102 Options as CGO issued to Employees (the
“Election”) shall be appropriately filed with the Israeli Tax Authorities before the Date of Grant of any Approved
102 Option.

 

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		(dd)	“3(i) Options” - means Options that do not contain such terms as will qualify
under Section 102 of the Tax Ordinance. Such options are available for issuance to any person which the Board or the Committee determined
to be eligible for such options.

 

		3.	Administration of the Plan

 

		(a)	The Plan shall be administered by the Board or the Committee. The Board or the Committee shall have the
authority in its sole discretion, subject to the Applicable Law, to administer the Plan and to exercise all the powers and authorities
specifically granted to it under the Plan as necessary and advisable in the administration of the Plan.

 

		(b)	The Board or the Committee shall have the full power and authority to: (i) designate Optionees; (ii) determine,
on the Date of Grant, the terms and provisions of the respective Option Agreements (which need not be identical), including, but not limited
to, the number of Options to be issued to each Optionee, the number of Shares to be covered by each Option, provisions concerning the
time and extent to which the Options may be exercised, and the nature and duration of restrictions as to the transferability, or restrictions
constituting substantial risk of forfeiture upon occurrence of certain events; (iii) if applicable, determine the Fair Market Value of
the Shares covered by each Option; (iv) designate the type of Options (subject to any Applicable Laws); and (v) cancel or suspend Options,
as necessary.

 

		(c)	Subject to the provisions of the Plan, the Applicable Laws and subject to the approval of any relevant
authorities, the Board or the Committee shall have the authority, in its discretion:

 

		(i)	to construe and interpret the terms of the Plan and any Option Agreements pursuant to the Plan;

 

		(ii)	to designate the service providers to whom Options may from time to time be issued hereunder;

 

		(iii)	to determine the number of Shares to be covered by each such Option issued hereunder;

 

		(iv)	to prescribe forms of Option Agreement for use under the Plan;

 

		(v)	to determine performance conditions for the vesting of Options;

 

		(vi)	to determine the terms of any Option and/or Option Agreement issued hereunder;

 

		(vii)	to determine the Exercise Price of any Option issued hereunder;

 

		(viii)	to amend, modify, waive or supplement the terms of any outstanding Option (with the consent of the applicable
Optionee, if such amendments refers to the increase of the Exercise Price of Options or reduction of the number of shares underlying an
Option (but, in each case, other than as a result of an adjustment or exercise of rights in accordance with Section 11(c))) unless otherwise
provided under the terms of the Plan, and

 

		(ix)	to take all other actions and make all other determinations necessary for the administration of the Plan.

 

		(d)	No member of the Board or the Committee shall be liable for any action taken or determination made in
good faith with respect to the Plan or any Option issued hereunder.

 

		(e)	Any member of the Board or the Committee shall be eligible to receive Options under the Plan while serving
on the Board or the Committee.

 

		(f)	All decisions, determinations and interpretations of the Board or the Committee shall be final and binding
on all Optionees.

 

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		4.	Designation of Optionees

 

		(a)	Options issued under this Plan shall contain such terms as will qualify the Options as 102 Options, 3(i)
Options or Unapproved 102 Options.

 

		(b)	Each Option issued pursuant to the Plan, shall be evidenced by an Option Agreement, in such form as the
Board or the Committee shall from time to time approve. Each Option Agreement shall state, among other matters, the number of Shares to
which the Option relates, the type of Option issued thereunder (whether CGO, OIO, Unapproved 102 Option or a 3(i) Option), the Vesting
Dates, the Exercise Price per share, the expiration date and such other terms and conditions as the Board or the Committee in its discretion
may prescribe, provided that they are consistent with this Plan. The Option Agreement shall be delivered to the Optionee and shall incorporate
the terms of the Plan by reference and specify the terms and conditions thereof and any rules applicable thereto.

 

		(c)	The persons eligible for participation in the Plan as Optionees shall include any Employees of the Company
and any other person which the Board or the Committee determines to be eligible for the issuance of options; provided, however,
that Options qualified under Section 102 of the Tax Ordinance shall be issued only to Employees of the Company.

 

		(d)	Neither this Plan nor any Option Agreement nor any offer of Options to an Optionee shall impose any obligation
on the Company to continue to employ or to engage the services of any Optionee, and nothing in the Plan, in any Option Agreement or in
any Option issued pursuant thereto shall give any Optionee any right to continue its employment or service of the Company or restrict
the right of the Company to terminate such employment or services at any time. Further, the Company expressly reserves the right at any
time to dismiss an Optionee free from any liability, or any claim under the Plan, except as provided herein or in the Option Agreement.

 

		(e)	The issuance of an Option to an Optionee hereunder, shall neither entitle such Optionee to participate,
nor disqualify him from participating, in any other issuance of Options pursuant to this Plan or any other incentive plan of the Company.

 

		(f)	Anything in the Plan to the contrary notwithstanding, all issuances of Options to directors and other
office holders of the Company shall be authorized and implemented in accordance with the provisions of Chapter 5 of Section 6 of the Israeli
Companies Law – 1999, or any successor act or regulation, as in effect from time to time.

 

		5.	Shares Subject to the Plan

 

		(a)	Maximum Number of Shares The Company has reserved a total of 21,637,955 Shares for the purposes
of the Plan and for the purposes of any other equity incentive plans which may in the future be adopted by the Company, subject to adjustment
as set forth in section ‎11 below. Any Shares which remain unissued and which are not subject to the outstanding Options at the termination
of the Plan shall cease to be reserved for the purpose of the Plan, but until termination of the Plan the Company shall at all times reserve
sufficient number of Shares to meet the requirements of the Plan. Should any Option for any reason expire or be canceled prior to its
exercise or relinquishment in full, the Shares subject to such Option shall become available for issuance or sale under the Plan or under
the Company’s other equity incentive plans, provided, however, that Shares that have actually been issued under the Plan
shall not be returned to the Plan and shall not become available for future distribution under the Plan.

 

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		(b)	Shares Available for Issuance. Any Shares (a) underlying an Option granted hereunder or an option
granted under the Cellebrite Mobile Synchronization Ltd. 2008 Share Option Plan (and any subplans) (the “Prior Plans”)
(in an amount not to exceed 16,921,120 Shares under the Prior Plan(s)) that has expired, or was cancelled, terminated, forfeited or settled
in cash in lieu of issuance of Shares, for any reason, without having been exercised; (b) if permitted by the Company, tendered to pay
the Exercise Price of an Option (or the exercise price or other purchase price of any option or other award under the Prior Plan(s)),
or withholding tax obligations with respect to an Option (or any options under the Prior Plan(s)); or (c) if permitted by the Company,
subject to an Optoin (or any award under the Prior Plan(s)) that are not delivered to a Optionee because such Shares are withheld to pay
the Exercise Price of such Option (or of any option under the Prior Plan(s)), or withholding tax obligations with respect to such Option
(or such other option); shall automatically, and without any further action on the part of the Company or any Optionee, again be available
for grant of Options and Shares issued upon exercise of (if applicable) vesting thereof for the purposes of this Plan (unless this Plan
shall have been terminated) or unless the Board determines otherwise. Such Shares may, in whole or in part, be authorized but unissued
Shares.

 

		(c)	Prior Plans. From and after the Effective Date, no further grants or awards shall be made under
the Prior Plan(s); however, Options granted under the Prior Plan(s) before the Effective Date shall continue in effect in accordance with
their terms.

 

		6.	Term of Option

 

Without derogating from the rights
and powers of the Board or the Committee, if not previously exercised, each Option shall expire upon the tenth (10th) anniversary
of the Date of Grant thereof or, upon the earlier termination of the Optionee’s Employment (or, if applicable, on the day following
the last day on which such Option is exercisable under section ‎10 below), provided that the Board or the Committee may establish
a shorter term for an Option at the time of the issuance of such Option.

 

		7.	Option Exercise Price and Consideration

 

		(a)	Each Option Agreement will contain the Exercise Price determined for each Option covered thereby (but
in any event, not less than the nominal value of the Share issuable upon exercise thereof).

 

		(b)	The consideration to be paid for the Shares to be issued upon exercise of an Option, including the currency
and the method of payment, shall be determined by the Board or the Committee and may consist entirely of (1) cash, (2) check
(3) any combination of the foregoing methods of payment, or (4) as provided under Section 9(j) hereto.

 

		(c)	The proceeds received by the Company from the issuance of Shares subject to the Options, to the extent
received, will be added to the general funds of the Company and used for its corporate purposes.

 

		8.	Vesting of the Options

 

		(a)	Subject to the provisions of the Plan, each Option shall vest and become exercisable commencing on the
Vesting Date thereof, as determined by the Board or the Committee, for the number of Shares as shall be provided in the Option Agreement.
However, no Option shall be exercisable after the Expiration Date. Unless otherwise determined by the Board or the Committee with respect
to any, some or all Options, each Option shall vest over a 4-year period from the Date of Grant, with one quarter of such Option becoming
vested on the first anniversary of such date, and the remaining portion in equal parts every quarter from the first anniversary and until
the fourth anniversary of such date or as otherwise indicated in the Optionee’s Option Agreement (“Vesting Period”).

 

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		(b)	An Option may be subject to such other terms and conditions on the time or times when it may be exercised
(including by way of performance conditions), as the Board or the Committee may deem appropriate. The vesting provisions of individual
Options may vary.

 

		9.	Exercise of Option; Right as a Shareholder

 

		(a)	Options shall be exercised by the Optionee by giving written notice to the Company and/or to any third
party designated by the Company (the “Representative”), in such form and method as may be determined by the Board or
the Committee and when applicable, by the Trustee in accordance with the requirements of Section 102 of the Tax Ordinance (the “Exercise
Notice”), which exercise shall be effective upon receipt of such notice by the Company and/or the Representative and the full
payment of the Exercise Price at the Company’s principal office. The Exercise Notice shall specify the number of Shares with respect
to which the Option is being exercised. The Exercise Notice is irrevocable and may not be rescinded or revised once it has been delivered
to the Company or to the Representative.

 

		(b)	The Options may be exercised by the Optionee in whole at any time or in part from time to time, to the
extent that the Options become vested and exercisable, prior to the Expiration Date, and provided that, subject to the provisions of section
‎10 below, the Optionee is employed by or providing services to the Company at all times during the period beginning with the Date
of Grant and ending upon the date of exercise.

 

		(c)	Shares issued upon exercise of an Option shall be issued in the name of the Optionee, except for shares
issued following the exercise of Approved 102 Options, which shall be issued to the Trustee for the benefit of the Optionee and held by
the Trustee at least during the restricted period specified in Section 102 of the Tax Ordinance until sold by the Optionee or otherwise
instructed by the Optionee. Prior to exercise and until the registration of the Optionee as holder of such Shares in the Company’s
register of shareholders, an Optionee, as such, shall have no right to vote or receive dividends or any other rights of or as a shareholder.

 

		(d)	An Option may not be exercised unless, at the time the Optionee gives the Exercise Notice, the Optionee
includes with such notice payment in cash or by bank check of all withholding taxes due, if any, on account of its acquired Shares under
the Option or gives other assurance satisfactory to the Board or the Committee and the Trustee of the payment of those withholding taxes.

 

		(e)	Shares shall not be issued pursuant to the exercise of an Option unless the exercise of such Option, the
method of payment and the issuance and delivery of such Shares shall comply with Applicable Laws.

 

		(f)	Until the consummation of an IPO, unless the Company determines otherwise, the Shares to be issued pursuant
to an Option or any other Securities, shall, unless otherwise determined by the Committee, be subject to an irrevocable proxy and power
of attorney, coupled with an interest, by the Optionee or the Trustee (if so requested from the Trustee), as the case may be, to the Company,
which shall designate such person or persons (with a right of substitution) from time to time as determined by the Committee (and in the
absence of such determination, the Chief Executive Officer of the Company or the Chairman of the Board, ex officio), which shall not be
revocable by the Optionee in any manner or for any reason. The Trustee is deemed to be instructed by the Optionee to sign such proxy,
as requested by the Company. The proxy shall entitle the holder thereof to receive notices, vote and take such other actions in respect
of the Shares or other Securities. Any person holding or exercising such voting proxies shall do so solely in his capacity as the proxy
holder and not individually. All Options granted hereunder shall be conditioned upon the execution of such irrevocable proxy in substantially
the form prescribed by the Committee from time to time. So long as any such Shares are subject to such irrevocable proxy and power of
attorney or held by a Trustee (and unless a proxy was given by the Trustee as aforesaid), (i) in any shareholders meeting or written consent
in lieu thereof, such Shares shall be voted by the proxy holder (or the Trustee, as applicable), unless directed otherwise by the Board,
in the same proportion as the result of the vote at the shareholders’ meeting (or written consent in lieu thereof) in respect of
which the Shares are being voted (whether an extraordinary or annual meeting, and whether of the share capital as one class or of any
class thereof), and (ii) or in any act or consent of shareholders under the Company’s Articles of Association or otherwise, such
Shares shall be cast by the proxy holder (or the Trustee, as applicable), unless directed otherwise by the Board, in the same proportion
as the result of the shareholders’ act or consent.

 

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		(g)	Optionee shall not have any of the rights or privileges of shareholders of the Company in respect of any
Shares purchasable upon the exercise of any Options, until the Optionee shall have exercised the Option, paid the Exercise Price and applicable
tax thereof and been registered as holder of such Shares in the Company’s register of shareholders upon exercise of the Options
in accordance with the provisions of the Plan, but in case of Options and Shares held by the Trustee, subject to the provisions of Section
13 below.

 

		(h)	If any law or regulation requires the Company to take any action with respect to the Shares specified
in the Exercise Notice before the issuance thereof, then the date of their issuance shall be extended for the period necessary to take
such action.

 

		(i)	Exercise of an Option in any manner shall result in a decrease in the number of Shares thereafter available,
both for purposes of the Plan and for exercise under the Option, by the number of Shares as to which the Option is exercised.

 

		(j)	The Optionee shall have the right to elect to receive, without the payment by the Optionee of the Exercise
Price, Shares of the Company equal to the value of the Options or any portion thereof by the surrender of the Options or such portion
to the Company, with the Exercise Notice annexed thereto, at the office of the Company. Thereupon, the number of fully paid Shares that
shall be issued to the Optionee shall be computed using the following formula:

 

	 	X =	Y(A-B)	 
	 	 	    A	 

 

	 	where	X =	the number of Shares to be issued to the Optionee pursuant to this Section 9(j);
	 	 	Y =	the number of Shares covered by this Option in respect of which the Exercise Notice is made pursuant to this Section 9(j);
	 	 	A =	the Fair Market Value of one Share;
	 	 	B =	the per share exercise price in effect at the time the Exercise Notice is made pursuant to this Section 9(j);

 

For the avoidance
of doubt, if it is forbidden pursuant to chapter 2 to Section 7 to the Companies Law to issue Company’ Shares in consideration which
is lower than the nominal value of the Shares, then the Optionee shall have the right to elect to receive, in consideration for the nominal
value of the Shares (but without the payment by the Optionee of the Exercise Price), Shares of the Company equal to the value of the Options
or any portion thereof by the surrender of the Options or such portion to the Company, with the Exercise Notice annexed thereto, at the
office of the Company. Thereupon, the number of fully paid Shares that shall be issued to the Optionee shall be computed using the formula
set forth above, provided that the “B” definition shall be adjusted to read as follows: “B =the per share exercise
price in effect at the time the Exercise Notice is made pursuant to this Section 9(j) minus the outcome of multiplying X by the nominal
value of each Share”.

 

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		(k)	Market Stand-Off. 

 

		i.	In connection with any underwritten public offering of equity securities of the Company pursuant to an
effective registration statement filed under the Securities Act or equivalent law in another jurisdiction, the Optionee shall not directly
or indirectly, without the prior written consent of the Company or its underwriters, (i) lend, offer, pledge, sell, contract to sell,
sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise
transfer or dispose of, directly or indirectly, any Shares or Options, any securities of the Company (whether or not such Shares were
acquired under this Plan), or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Shares or securities
of the Company and any other shares or securities issued or distributed in respect thereto or in substitution thereof (collectively, “Securities”),
or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of the Securities, whether any such transaction described in the foregoing clauses (i) or (ii) is to be settled by delivery of Securities,
in cash or otherwise. The foregoing provisions of this Section 9(k) shall not apply to the sale of any shares to an underwriter pursuant
to an underwriting agreement. Such restrictions (the “Market Stand-Off”) shall be in effect for such period of time
(the “Market Stand-Off Period”): (A) following the first public filing of the registration statement relating to the
underwritten public offering until the expiration of 180 days following the effective date of such registration statement relating to
the Company’s initial public offering or 90 days following the effective date of such registration statement relating to any other
public offering, in each case, provided, however, that if (1) during the last 17 days of the initial Market Stand-Off Period, the Company
releases earnings results or announces material news or a material event or (2) prior to the expiration of the initial Market Stand-Off
Period, the Company announces that it will release earnings results during the 15-day period following the last day of the initial Market
Stand-Off Period, then in each case the Market Stand-Off Period will be automatically extended until the expiration of the 18-day period
beginning on the date of release of the earnings results or the announcement of the material news or material event; or (B) such other
period as shall be requested by the Company or the underwriters. Notwithstanding anything herein to the contrary, if the underwriter(s)
and the Company agree on a termination date of the Market Stand-Off Period in the event of failure to consummate a certain public offering,
then such termination shall apply also to the Market Stand-Off Period hereunder with respect to that particular public offering.

 

		ii.	In the event of a subdivision of the outstanding share capital of the Company, the distribution of any
securities (whether or not of the Company), whether as bonus shares or otherwise, and whether as dividend or otherwise, a recapitalization,
a reorganization (which may include a combination or exchange of shares or a similar transaction affecting the Company’s outstanding
securities without receipt of consideration), a consolidation, a spin-off or other corporate divestiture or division, a reclassification
or other similar occurrence, any new, substituted or additional securities which are by reason of such transaction distributed with respect
to any Shares subject to the Market Stand-Off, or into which such Shares thereby become convertible, shall immediately be subject to the
Market Stand-Off.

 

		iii.	In order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect
to the Shares acquired under this Plan until the end of the applicable Market Stand-Off period.

 

		iv.	The underwriters in connection with a registration statement so filed are intended third party beneficiaries
of this Section ‎9(k) and shall have the right, power and authority
to enforce the provisions hereof as though they were a party hereto. Each Optionee shall execute such separate agreement(s) as may be
requested by the Company or the underwriters in connection with such registration statement and in the form required by them, relating
to Market Stand-Off (which need not be identical to the provisions of this Section ‎9(k),
and may include such additional provisions and restrictions as the underwriters deem advisable) or that are necessary to give further
effect thereto. The execution of such separate agreement(s) may be a condition by the Company to the exercise of any Option.

 

		v.	Without derogating from the above provisions of this Section 9(k) or elsewhere in this Plan, the provisions
of this Section 9(k) shall apply to the Optionee and the Optionee’s heirs, legal representatives, successors, assigns, and to any
purchaser, assignee or transferee of any Options or Shares.

 

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		(l)	Data Privacy; Data Transfer. Information related to Optionees and Options hereunder, as shall be
received from an Optionee or others, and/or held by, the Company or its Affiliates from time to time, and which information may include
sensitive and personal information related to Optionees (“Information”), will be used by the Company or its Affiliates
(or third parties appointed by any of them, including the Trustee) to comply with any applicable legal requirement, or for administration
of the Plan as they deem necessary or advisable, or for the respective business purposes of the Company or its Affiliates (including in
connection with transactions related to any of them). The Company and its Affiliates shall be entitled to transfer the Information among
the Company or its Affiliates, and to third parties for the purposes set forth above, which may include persons located abroad (including,
any person administering the Plan or providing services in respect of the Plan or in order to comply with legal requirements, or the Trustee,
their respective officers, directors, employees and representatives, and the respective successors and assigns of any of the foregoing),
and any person so receiving Information shall be entitled to transfer it for the purposes set forth above. The Company shall use commercially
reasonable efforts to ensure that the transfer of such Information shall be limited to the reasonable and necessary scope. By receiving
an Option hereunder, each Optionee acknowledges and agrees that the Information is provided at such Optionee’s free will and such
Optionee consents to the storage and transfer of the Information as set forth above.

 

		10.	Termination of Employment

 

		(a)	In the event that the employment or service of an Optionee shall terminate (other than by reason of death,
Disability or Retirement), all Options of such Optionee that are unvested at the time of such termination shall terminate on the date
of such termination, and all Options of such Optionee that are vested and exercisable at the time of such termination may be exercised
within up to three (3) months after the date of such termination (or such different period as the Committee shall prescribe), but in any
event no later than the date of expiration of the Options’ term as set forth in the Option Agreement or pursuant to this Plan; provided,
however, that if the Company (or the Subsidiary or Affiliate, when applicable) shall terminate the Optionee’s employment or service
for Cause (whether occurring prior to or after termination of employment or service), all Options theretofore granted to such Optionee
(whether vested or not) shall terminate, unless otherwise determined by the Committee, and any Shares issued upon exercise or (if applicable)
vesting of Options (including other Shares or securities issued or distributed with respect thereto), whether held by the Optionee or
by the Trustee for the Optionee’s benefit, shall be deemed to be irrevocably offered for sale to the Company, any of its Affiliates
or any person designated by the Company to purchase, at the Company’s election and subject to Applicable Law, either for no consideration,
for the par value of such Shares (if shares bear a par value) or against payment of the Exercise Price previously received by the Company
for such Shares upon their issuance, as the Committee deems fit, upon written notice to the Optionee at any time prior to, at or after
the Optionee’s termination of employment or service. Such Shares or other securities shall be sold and transferred within 30 days
from the date of the Company’s notice of its election to exercise its right. If the Optionee fails to transfer such Shares or other
securities to the Company, the Company, at the decision of the Committee, shall be entitled to forfeit or repurchase such Shares and to
authorize any person to execute on behalf of the Optionee any document necessary to effect such transfer, whether or not the share certificates
are surrendered. The Company shall have the right and authority to affect the above either by: (i) repurchasing all of such Shares or
other securities held by the Optionee or by the Trustee for the benefit of the Grantee, or designate the purchaser of all or any part
of such Shares or other securities, for the Exercise Price paid for such Shares, the par value of such Shares (if shares bear a par value)
or for no payment or consideration whatsoever, as the Committee deems fit; (ii) forfeiting all or any party of such Shares or other securities;
(iii) redeeming all or any party of such Shares or other securities, for the Exercise Price paid for such Shares, the par value of such
Shares (if shares bear a par value) or for no payment or consideration whatsoever, as the Committee deems fit; (iv) taking action in order
to have all or any part of such Shares or other securities converted into deferred shares entitling their holder only to their par value
(if shares bear a par value) upon liquidation of the Company; or (v) taking any other action which may be required in order to achieve
similar results; all as shall be determined by the Committee, at its sole and absolute discretion, and the Optionee is deemed to irrevocably
empower the Company or any person which may be designated by it to take any action by, in the name of or on behalf of the Optionee to
comply with and give effect to such actions (including, voting such shares, filling in, signing and delivering share transfer deeds, etc.).

 

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		(b)	If the Optionee’s employment with the Company, or if applicable, the rendering of services by the
Optionee to the Company is terminated because of Optionee’s death, retirement or Disability, then Optionee’s Options may be
exercised, only to the extent that such Options are vested and exercisable by Optionee on the termination date or as otherwise determined
by the Board or the Committee. Such Options must be exercised by Optionee (or Optionee’s legal representative or authorized assignee),
if at all, as to all or some of the then vested option calculated as of the termination date or such other date determined by the Board
or the Committee, within twelve (12) months after the termination date. If, on the date of termination, there are Options, which have
not vested, the Shares covered by the unvested portion of the Options shall revert to the Plan. If the Option is not so exercised within
the time specified herein, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. For the avoidance
of doubt - in the event that in connection therewith any Approved 102 Options are still held by the Trustee, the trust with respect thereto
shall ipso facto expire and all of the Shares covered by the vested and unvested portion of such unexercised Approved 102 Options shall
revert to the Plan and be subject to issuance.

 

		(c)	Except as otherwise provided in the applicable Option Agreement or other agreement between the Optionee
and the Company, if the exercise of an Option following the termination of the Optionee’s employment or service (other than for
Cause) would be prohibited at any time solely because the issuance of Shares would violate the registration requirements under the Securities
Act or equivalent requirements under equivalent laws of other applicable jurisdictions, then the Options shall remain exercisable and
terminate on the earlier of (i) the expiration of a period of three (3) months (or such longer period of time as determined
by the Board, in its discretion) after the termination of the Optionee’s employment or service during which the exercise of the
Options would not be in such violation, or (ii) the expiration of the term of the Options as set forth in the Option Agreement or
pursuant to this Plan. In addition, unless otherwise provided in a Optionee’s Option Agreement, if the sale of any Shares received upon
exercise or (if applicable) vesting of an Option following the termination of the Optionee’s employment or service (other than for
Cause) would violate the Company’s insider trading policy, then the Options shall terminate on the earlier of (i) the expiration
of a period equal to the applicable post-termination exercise period after the termination of the Optionee’s employment or service
during which the exercise of the Options would not be in violation of the Company’s insider trading policy, or (ii) the expiration
of the term of the Options as set forth in the applicable Option Agreement or pursuant to this Plan.

 

		(d)	A termination of employment or service of a of Optionee shall not be deemed to occur in case of (i) a
transition or transfer of an Optionee among the Company and its Affiliates, (ii) a change in the capacity in which the of Optionee is
employed or renders service to the Company or any of its Affiliates or a change in the identity of the employing or engagement entity
among the Company and its Affiliates, provided, in case of (i) and (ii) above, that the of Optionee has remained continuously employed
by and/or in the service of the Company and its Affiliates since the date of grant of the grant and throughout the vesting period; or
(iii) if the Optionee takes any unpaid leave.

 

		(e)	With respect to Unapproved 102 Option, if the Optinee ceases to be employed by the Company, the Optionee
shall extend to the Company a security or guarantee for the payment of tax due at the time of sale of Shares, all in accordance with the
provisions of Section 102 and the rules, regulations or orders promulgated thereunder as now in effect or as hereafter amended.

 

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		11.	Adjustments

 

		(a)	Changes in Capitalization. Subject to any required action by the Company, the number of Shares
                                                                                     covered by each outstanding Option, the number of Shares which have been reserved for issuance under the Plan but as to which no
                                                                                     Options have yet been issued or which have been returned to the Plan upon cancellation or expiration of an Option, as well as the
                                                                                     Exercise Price per share of Shares covered by each such outstanding Option, shall be proportionately adjusted for any increase or
                                                                                     decrease in the number of issued Shares resulting from a share split, reverse share split, bonus shares (stock dividend),
                                                                                     combination or reclassification of the Shares, all only if such triggering event generally applies to all Shares; provided, however
                                                                                     that fractions of a Share will not be issued but will be rounded down to the nearest whole Share; and provided, further, that the
                                                                                     Exercise Price of any Option may not be decreased to below the nominal value of the Shares. Such adjustment shall be made by the
                                                                                     Board, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance
                                                                                     by the Company of shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment by reason
                                                                                     thereof shall be made with respect to the number or the Exercise Price per Share subject to an Option. If the Options or the Shares
                                                                                     issued upon the exercise of such Options will be deposited with a Trustee, as determined by the Board or the Committee, all of the
                                                                                     Shares formed by these adjustments also will be deposited with the Trustee in the same terms and conditions as the original Options
                                                                                     or Shares(b) Dissolution or Liquidation. In the event of a dissolution or liquidation of the Company (whether voluntary or
                                                                                     involuntary) (the “Event”), the Board or the Committee shall notify each Optionee who holds unexercised Options
                                                                                     as soon as practicable prior to the effective date of such Event. The Board or the Committee in its sole discretion may allow the
                                                                                     exercise of any or all outstanding Options, whether or not vested, within a reasonable period of time prior to the Event and subject
                                                                                     to the provisions of the Applicable Laws. To the extent it has not been previously exercised, an Option will terminate immediately
                                                                                     prior to the Event.

 

		(c)	Merger, Acquisition, Shares sale, Assets Sale. In the event of a Transaction, then, without derogating
from the general authority and power of the Board or the Committee under this Plan, without the Optinee’s consent and action and without
any prior notice requirement:

 

		(i)	Unless otherwise determined by the Committee in its sole and absolute discretion, any Option then outstanding
shall be assumed or be substituted by the Company, or by the successor corporation in such Transaction or by any parent or Affiliate thereof,
as determined by the Committee in its discretion (the “Successor Corporation”), under terms as determined by the Committee
or the terms of this Plan applied by the Successor Corporation to such assumed or substituted Options.

 

		(ii)	For the purposes of this Section 11(c), the Option shall be considered assumed or substituted if, following
a Transaction, the Option confers on the holder thereof the right to purchase or receive, for each Share underlying an option immediately
prior to the Transaction, either (A) the consideration (whether stock, cash, or other securities or property, or any combination thereof)
distributed to or received by holders of Shares in the Transaction for each Share held on the effective date of the Transaction (and if
holders were offered a choice or several types of consideration, the type of consideration as determined by the Committee), or (B) regardless
of the consideration received by the holders of Shares in the Transaction, solely shares or any type of Options (or their equivalent)
of the Successor Corporation at a value to be determined by the Committee in its discretion, or a certain type of consideration (whether
stock, cash, or other securities or property or rights, or any combination thereof) as determined by the Committee. Any of the above consideration
referred to in clauses (A) and (B) shall be subject to the same vesting and expiration terms of the Options applying immediately prior
to the Transaction, unless determined by the Committee in its discretion that the consideration shall be subject to different vesting
and expiration terms, or other terms, and the Committee may determine that it be subject to other or additional terms. The foregoing shall
not limit the Committee’s authority to determine, in its sole discretion, that in lieu of such assumption or substitution of Options of
the Successor Corporation, such Option will be substituted for any other type of asset or property, including as set forth in Section
11(c)(iii) hereunder.

 

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		(iii)	Regardless of whether or not Options are assumed or substituted, the Committee may (but shall not be obligated
to), in its sole discretion:

 

		A.	provide for the Optionee to have the right to exercise the Options in respect of Shares covered by the
Options which would otherwise be exercisable or vested, under such terms and conditions as the Committee shall determine, and the cancellation
of all unexercised Options (whether vested or unvested) upon or immediately prior to the closing of the Transaction, unless the Committee
provides for the Optionee to have the right to exercise the Option, or otherwise for the acceleration of vesting of such Option, as to
all or part of the Shares covered by the Option which would not otherwise be exercisable or vested, under such terms and conditions as
the Committee shall determine; and/or

 

		B.	provide for the cancellation of each outstanding Option at or immediately prior to the closing of such
Transaction, and payment to the Optionee of an amount in cash, shares or other securities of the Company, the acquiror or of a corporation
or other business entity which is a party to the Transaction cash or other property or rights, or any combination thereof, as determined
by the Committee to be fair in the circumstances, and subject to such terms and conditions as determined by the Committee. The Committee
shall have full authority to select the method for determining the payment (being the intrinsic (“spread”) value of the option,
Black-Scholes model or any other method). Inter alia, and without limitation of the following determination being made in other
circumstances, the Committee’s determination may further provide that payment shall be set to zero if the value of the Shares is
determined to be less than the Exercise Price or in respect of Shares covered by the Options which would not otherwise be exercisable
or vested, or that payment may be made only in excess of the Exercise Price.

 

		C.	provide that the terms of any Option shall be otherwise amended, modified or terminated, as determined
by the Committee to be fair in the circumstances and without any liability to the Company or its Affiliates and to their respective officers,
directors, employees and representatives and the respective successors and assigns of any of the foregoing in connection with the method
of treatment or chosen course of action permitted hereunder.

 

		(iv)	The Committee may, in its sole discretion, determine: (i) that any payments made in respect of an Option
shall be made or delayed to the same extent that payment of consideration to the holders of the Shares in connection with the Transaction
is made or delayed as a result of escrows, indemnification, earn outs, holdbacks or any other contingencies or conditions; (ii) the terms
and conditions applying to the payment made or payable to the Optionees, including participation in escrow, indemnification, releases,
earn-outs, holdbacks or any other contingencies; and (iii) that any terms and conditions applying under the applicable definitive transaction
agreements shall apply to the Grantees (including, appointment and engagement of a shareholders or sellers representative, payment of
fees or other costs and expenses associated with such services, indemnifying such representative, and authorization to such representative
within the scope of such representative’s authority in the applicable definitive transaction agreements).

 

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		(v)	The Committee may, in its sole discretion, determine to suspend the Optionee’s rights to exercise any
vested portion of an Option for a period of time prior to the completion of a Transaction.

 

		(vi)	Without limiting the generality of this Section 11(c), if the consideration in exchange for Options in
a Transaction includes any securities and due receipt thereof by any Optionee (or by the Trustee for the benefit of such Optionee) may
require under applicable law (i) the registration or qualification of such securities or of any person as a broker or dealer or agent
with respect to such securities; or (ii) the provision to any Optionee of any information under the Securities Act or any other securities
laws, then the Committee may determine that the Optionee shall be paid in lieu thereof, against surrender of the Shares or cancellation
of any other Options, an amount in cash or other property, or rights, or any combination thereof, as determined by the Committee to be
fair in the circumstances, and subject to such terms and conditions as determined by the Committee. Nothing herein shall entitle any Optionee
to receive any form of consideration that such Optionee would be ineligible to receive as a result of such Optionee’s failure to
satisfy (in the Committee’s sole determination) any condition, requirement or limitation that is generally applicable to the Company’s
shareholders, or that is otherwise applicable under the terms of the Transaction, and in such case, the Committee shall determine the
type of consideration and the terms applying to such Optionees.

 

		(vii)	Neither the authorities and powers of the Committee under this Section 11(c), nor the exercise or implementation
thereof, shall (A) be restricted or limited in any way by any adverse consequences (tax or otherwise) that may result to any holder of
an Option, and (B) as, inter alia, being a feature of the Option upon its grant, be deemed to constitute a change or an amendment of the
rights of such holder under this Plan, nor shall any such adverse consequences (as well as any adverse tax consequences that may result
from any tax ruling or other approval or determination of any relevant tax authority) be deemed to constitute a change or an amendment
of the rights of such holder under this Plan, and may be effected without consent of any Optionee and without any liability to the Company
or its Affiliates and to their respective its officers, directors, employees and representatives and the respective successors and assigns
of any of the foregoing. The Committee need not take the same action with respect to all Options or with respect to all Service Providers.
The Committee may take different actions with respect to the vested and unvested portions of an Option. The Committee may determine an
amount or type of consideration to be received or distributed in a Transaction which may differ as among the Optionees, and as between
the Optionees and any other holders of shares of the Company.

 

		(viii)	The Committee may determine that upon a Transaction any Shares held by Optionees (or for Optionees’
benefit) are sold in accordance with instructions issued by the Committee in connection with such Transaction, which shall be final, conclusive
and binding on all Optionees.

 

		(ix)	The Committee’s determinations pursuant to this Section 11(c) shall be at its sole and absolute discretion,
and shall be final, conclusive and binding on all Optionees (including, for clarity, as it relates to Shares issued upon exercise or vesting
of any Options, unless otherwise determined by the Committee) and without any liability to the Company or its Affiliates, or to their
respective officers, directors, employees, shareholders and representatives, and the respective successors and assigns of any of the foregoing,
in connection with the method of treatment, chosen course of action or determinations made hereunder.

 

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		(x)	If determined by the Committee, the Optionees shall be subject to the definitive agreement(s) in connection
with the Transaction as applying to holders of Shares including, such terms, conditions, representations, undertakings, liabilities, limitations,
releases, indemnities, appointing and indemnifying shareholders/sellers representative, participating in transaction expenses, shareholders/sellers
representative expense fund and escrow arrangement, in each case as determined by the Committee. Each Optionee shall execute such separate
agreement(s) or instruments as may be requested by the Company, the Successor Corporation or the acquiror in connection with such in such
Transaction and in the form required by them. The execution of such separate agreement(s) may be a condition to the receipt of assumed
or substituted Options, payment in lieu of the Option or the exercise of any Option or otherwise to be entitled to benefit from shares
or other securities, cash or other property, or rights, or any combination thereof, pursuant to this Section 11(c) (and the Company (and,
if applicable, the Trustee) may exercise its authorization above and sign such agreement on behalf of the Grantee or subject the Grantee
to the provisions of such agreements). Without limitation of the foregoing, the proxy pursuant to Section 9(f) includes an authorization
of the holder of such proxy to sign, by and on behalf of any Grantee, such documents and agreements required to be signed under this Section
11(c).

 

		(d)	Dividend Distributions

 

The Exercise Price shall be adjusted
for any dividend distributions between the Grant Date and the relevant date of exercise, such that the Exercise Price shall be reduced
by an amount equal to dividend amount per share that would have been distributed to the Optionee if the Options were exercised prior to
the dividend distribution date.

 

		(e)	Reservation of Rights. Except as expressly provided in this Section 11 (if any), the Optionee
of an Option hereunder shall have no rights by reason of any recapitalization of shares of any class, any increase or decrease in the
number of shares of any class, or any dissolution, liquidation, reorganization (which may include a combination or exchange of shares,
spin-off or other corporate divestiture or division, or other similar occurrences), or Transaction. Any issue by the Company of shares
of any class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall
be made with respect to, the number, type or price of shares subject to an Option. The grant of an Option pursuant to this Plan shall
not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital
or business structures or to merge or to consolidate or to dissolve, liquidate or sell, or transfer all or part of its business or assets
or engage in any similar transactions.

 

		12.	Designation of Options Pursuant to Section 102

 

		(a)	The Board or the Committee may designate Options issued to Employees pursuant to Section 102 of the Tax
Ordinance as either CGO or OIO.

 

		(b)	The Company’s Election (as defined in Section 2(cc) above) of the type of Approved 102 Options to
be issued to Employees, shall become effective beginning the first Date of Grant of an Approved 102 Option under the Plan and shall remain
in effect until at least the end of the year following the year during which the Company first issued Approved 102 Options. The Election
shall obligate the Company to issue only the type of Approved 102 Option it has elected, and shall apply to all Approved 102 Options issued
during the period indicated herein, all in accordance with the provisions of Section 102(g) of the Tax Ordinance. For the avoidance of
doubt, such Election shall not prevent the Company from issuing Unapproved 102 Options or 3(i) Options, simultaneously.

 

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		(c)	No Approved 102 Options may be issued under this Plan to any person, unless and until, the Plan and the
Company’s Election shall be appropriately filed with the Israeli Tax Authorities at least thirty (30) days before the first Date
of Grant of an Approved 102 Option under this Plan.

 

		(d)	Each Option Agreement shall state, inter alia, the type of Option issued thereunder (whether a
CGO, OIO, Unapproved 102 Option or a 3(i) Option), the vesting provisions and the Exercise Price.

 

		(e)	All Approved 102 Options must be held in trust by a Trustee, as described in Section 13 below.

 

		(f)	For the avoidance of doubt, the designation of Unapproved 102 Options and Approved 102 Options shall be
subject to the terms and conditions set forth in Section 102 of the Tax Ordinance.

 

		(g)	With regard to Approved 102 Options, the provisions of the Plan and the Option Agreement shall be subject
to the provisions of Section 102 of the Tax Ordinance and the Tax Assessing Officer’s permit, and the said provisions and permit
shall be deemed an integral part of the Plan and of the Option Agreements. Any provision of Section 102 of the Tax Ordinance and/or the
said permit which is necessary in order to receive and/or to keep any tax benefit pursuant to Section 102 of the Tax Ordinance, which
is not expressly specified in the Plan or the Option Agreement, shall be considered binding upon the Company and the Optionees.

 

		13.	Trustee

 

		(a)	The Board or the Committee may choose to deposit any or all Options issued pursuant to the Plan with a
Trustee. In such event, the Trustee shall hold such Options, and any Shares issued upon the exercise of any of such Options, in trust
pursuant to the Company’s instructions from time to time. The Trustee shall be entitled to make such provisions and take such steps
as it may deem necessary or appropriate for the withholding of all taxes required by law to be withheld with respect to the exercise of
the Options or their sale to a third party. The Company shall deliver the Trustee all the necessary information required by it/him.

 

		(b)	Anything herein to the contrary notwithstanding, Approved 102 Options issued under the Plan and/or all
Shares allocated or issued upon exercise of such Approved 102 Options and/or all other shares received subsequently following any realization
of rights in connection with such Approved 102 Options or Shares and all rights attached to shares described above or Approved 102 Options,
shall be allocated or issued to the Trustee and held for the benefit of the Optionee for such period of time as required by Section 102
of the Tax Ordinance or any Rules promulgated thereunder as now in effect or as hereafter amended (the “Restricted Period Per
Section 102”). All of the rights attached to Shares issued upon exercise of Approved 102 Options, including without limitation
dividend in shares, shall be subject to the same tax treatment as the treatment to which such Options are subject to.

 

		(c)	Notwithstanding anything to the contrary, the Trustee shall not make any transaction or take any action
with respect to Approved 102 Options or Shares issued upon exercise thereof, will not transfer, assign, release, pledge, mortgage voluntarily,
or grant in connection therewith any proxy or assignment deed, whether immediately effective or effective at a future date, other than
by will or by operation of law, until after the full payment of the Optionee’s tax liabilities arising from the issuance of such
Options or their exercise or release or transfer by the Trustee or after guarantying the payment of said taxes. If such Options or Shares
have been transferred by will or by operation of law, the provisions of Section 102 of the Tax Ordinance will apply with respect to the
heirs or the transferees of the Optionee or shareholder, as the case may be.

 

		(d)	Subject to the provisions of Section 102 of the Tax Ordinance during the
Restricted Period per Section 102 an Optionee may not release the Approved 102 Options or Shares issued upon exercise thereof from trust
or sell such Options or Shares while they are held by the Trustee. At any time thereafter
each Optionee may require (but shall not be obligated to require) the Trustee to sell upon
Optionee’s direction, or transfer to the Optionee, any Approved 102 Options or Shares issued pursuant to the exercise of
such Approved 102 Options, provided that (1) such transfer is in compliance with all Applicable
Laws, and (2) all applicable tax due pursuant to such a sale or transfer has been paid in accordance with Section 102 of the Tax
Ordinance and the Trustee has received an acknowledgment from the Israeli Tax Authorities that the Optionee has paid any applicable tax
due pursuant to the Tax Ordinance. Notwithstanding the above, if any such sale or release occurs during the Restricted
Period per Section 102, the sanctions under Section 102 of the Tax Ordinance shall apply to and shall be borne by such Optionee.

 

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		14.	Purchase for Investment; Limitations Upon IPO; Representations

 

		(a)	The Company’s obligation to issue or allocate Shares upon exercise of an Option issued under the
Plan is expressly conditioned upon: (a) the Company’s completion of any registration or other qualifications of such Shares under
all applicable laws, rules and regulations or (b) representations and undertakings by the Optionee (or his legal representative, heir
or legatee, in the event of the Optionee’s death) to assure that the sale of the Shares complies with any registration exemption
requirements which the Company in its sole discretion shall deem necessary or advisable. Such required representations and undertakings
may include representations and agreements that such Optionee (or his legal representative, heir, or legatee) is purchasing such Shares
for investment and not with any present intention of selling or otherwise disposing thereof.

 

		(b)	The Optionee acknowledges that in the event that the Company’s shares shall be registered for trading
in any stock exchange or public market, Optionee’s rights to sell the Shares may be subject to certain limitations (including a
lock-up period), as will be requested by the Company or its underwriters, and the Optionee unconditionally agrees and accepts any such
limitations.

 

		(c)	Upon the issuance of Options to an Optionee or the issuance of Shares upon the exercise thereof, the Company
shall be entitled to obtain from such the representations and undertakings as follows, as well as such other representations and undertakings
the Board or the Committee deems necessary:

 

		(i)	That the Optionee is familiar with the Company, its activity and its financial and commercial forecast,
and that the Optionee knows that there is no certainty that the exercise of the Options will be financially worthwhile. The Optionee hereby
undertakes not to have any claim against the Company or any of its directors, Employees, shareholders or advisors if it emerges, at the
time of exercising the Options, that the Optionee’s investment in the Company’s Shares was not worthwhile, for any reason
whatsoever.

 

		(ii)	That the Optionee knows that his rights regarding the Options and the Shares are subject for all intents
and purposes to the instructions of the Company’s documents of incorporation and to the agreements of the shareholders in the Company.

 

		(iii)	That the Optionee knows that in addition to the allocations set forth above, the Company has allocated
and/or is entitled to allocate Options and Shares to other Employees and other people, and the Optionee shall have no claim regarding
such allocations, their quantity, the relationship among them and between them and the other shareholders in the Company, exercising of
the options or any matter related to or stemming from them.

 

		(iv)	That the Optionee knows that neither the Plan nor the issuance of Option or Shares thereunder shall impose
any obligation on the Company to continue the engagement of the Optionee, and nothing in the Plan, in his respective Option Agreement
or in any Option or Shares issued pursuant thereto shall confer upon any Optionee any right to continue being engaged by the Company,
or restrict the right of the Company to terminate such engagement at any time.

 

    17

     

    

 

ESOP 2019

 

		15.	Dividends

 

With respect to all Shares (but excluding,
for avoidance of any doubt, any unexercised Options) allocated or issued upon the exercise of Options purchased by the Optionee and held
by the Optionee or by the Trustee, as the case may be, the Optionee shall be entitled to receive dividends in accordance with the quantity
of such Shares, subject to the provisions of the Company’s Articles of Association (and all amendments thereto) and subject to any
applicable taxation on distribution of dividends, and, when applicable, subject to the provisions of Section 102 of the Tax Ordinance.

 

		16.	Restrictions on Assignability and Sale of Options/Shares

 

		(a)	All Options granted under this Plan by their terms shall not be transferable, other
than by will or by the laws of descent and distribution, unless otherwise determined by the Committee or under this Plan, provided that
with respect to Shares issued upon exercise, the restrictions on transfer shall be the restrictions referred to in Section 18 (Conditions
upon Issuance of Shares) hereof. Subject to the above provisions, the terms of such Options, this Plan and any applicable Option Agreement
shall be binding upon the beneficiaries, executors, administrators, heirs and successors of such Optionee. Options may be exercised or
otherwise realized, during the lifetime of the Optionee, only by the Optionee or by his guardian or legal representative, to the extent
provided for herein. Any transfer of an Option not permitted hereunder (including transfers pursuant to any decree of divorce, dissolution
or separate maintenance, any property settlement, any separation agreement or any other agreement with a spouse) and any grant of any
interest in any Option to, or creation in any way of any direct or indirect interest in any Option by, any party other than the Optionee
shall be null and void and shall not confer upon any party or person, other than the Optionee, any rights. An Optionee may file with the
Committee a written designation of a beneficiary, who shall be permitted to exercise such Optionee’s Options or to whom any benefit
under this Plan is to be paid, in each case, in the event of the Optionee’s death before he or she fully exercises his or her Option
or receives any or all of such benefit, on such form as may be prescribed by the Committee and may, from time to time, amend or revoke
such designation. If no designated beneficiary survives the Optionee, the executor or administrator of the Optionee’s estate shall
be deemed to be the Optionee’s beneficiary. Notwithstanding the foregoing, upon the request of the Optionee and subject to Applicable
Law, the Committee, at its sole discretion, may permit the Optionee to transfer the Option to a trust whose beneficiaries are the Optionee
and/or the Optionee’s immediate family members (all or several of them).

 

		(b)	So long as Options and/or Shares are held by the Trustee on behalf of the Optionee,
all rights of the Optionee over the Shares are personal, can not be transferred, assigned, pledged or mortgaged, other than by will or
pursuant to the laws of descent and distribution.

 

		(c)	No Optionee shall have a right of first refusal in relation with any sale of Shares
in the Company.

 

		(d)	The Shares issued to an Optionee pursuant to an Option exercise shall be subject
to the right of first refusal of the other shareholders of the Company.

 

		17.	Amendment and Termination of the Plan

 

		(a)	The Board at any time and from time to time may suspend, terminate, modify or amend this Plan, whether
retroactively or prospectively. Any amendment effected in accordance with this Section shall be binding upon all Optionees and all Options,
whether granted prior to or after the date of such amendment, and without the need to obtain the consent of any Optionee. No termination
or amendment of this Plan shall affect any then outstanding Options unless expressly provided by the Board. In no event may any action
of the Company materially and adversely alter or impair the rights of any Optionee.

 

    18

     

    

 

ESOP 2019

 

		(b)	Options may be granted pursuant to this Plan from time to time within a period of ten (10) years from
the Effective Date, which period may be extended from time to time by the Board. From and after such date (as extended), no grants of
Options may be made.

 

		(c)	Termination of the Plan shall not affect the Board’s or the Committee’s ability to exercise
the powers granted to it hereunder with respect to Options issued under the Plan prior to the date of such termination.

 

		18.	Conditions Upon Issuance of Shares; Governing Provisions.

 

		(a)	Legal Compliance. The grant of Options and the issuance of Shares upon exercise
or settlement of Options shall be subject to compliance with all Applicable Law as determined by the Company, including, applicable requirements
of federal, state and foreign law with respect to such securities. The Company shall have no obligations to issue Shares pursuant to the
exercise or settlement of an Option and Options may not be exercised or settled, if the issuance of Shares upon exercise or settlement
would constitute a violation of any Applicable Law as determined by the Company, including, applicable federal, state or foreign securities
laws or other law or regulations or the requirements of any stock exchange or market system upon which the Shares may then be listed.
In addition, no Option may be exercised unless (i) a registration statement under the Securities Act or equivalent law in another jurisdiction
shall at the time of exercise or settlement of the Option be in effect with respect to the shares issuable upon exercise of the Option,
or (ii) in the opinion of legal counsel to the Company, the shares issuable upon exercise of the Option may be issued in accordance with
the terms of an applicable exemption from the registration requirements of the Securities Act or equivalent law in another jurisdiction.
The inability of the Company to obtain authority from any regulatory body having jurisdiction, if any, deemed by the Company to be necessary
to the lawful issuance and sale of any Shares hereunder, and the inability to issue Shares hereunder due to non-compliance with any Company
policies with respect to the sale of Shares, shall relieve the Company of any liability in respect of the failure to issue or sell such
Shares as to which such requisite authority or compliance shall not have been obtained or achieved. As a condition to the exercise of
an Option, the Company may require the person exercising such Option to satisfy any qualifications that may be necessary or appropriate,
to evidence compliance with any Applicable Law or regulation and to make any representation or warranty with respect thereto as may be
requested by the Company, including to represent and warrant at the time of any such exercise that the Shares are being purchased only
for investment and without any present intention to sell or distribute such Shares, all in form and content specified by the Company.

 

		(b)	Provisions Governing Shares. Shares issued pursuant to an Option shall be
subject to this Plan (unless otherwise determined by the Committee), and shall be subject to the Articles of Association of the Company,
any limitation, restriction or obligation included in any shareholders agreement applicable to all or substantially all of the holders
of shares (regardless of whether or not the Optionee is a formal party to such shareholders agreement), any other governing documents
of the Company, all policies, manuals and internal regulations adopted by the Company from time to time, in each case, as may be amended
from time to time, including any provisions included therein concerning restrictions or limitations on disposition of Shares (such as,
but not limited to, right of first refusal and lock up/market stand-off) or grant of any rights with respect thereto, forced sale and
bring along/drag along provisions, any provisions concerning restrictions on the use of inside information and other provisions deemed
by the Company to be appropriate in order to ensure compliance with Applicable Law. Each Optionee shall execute (and authorizes any person
designated by the Company to so execute, as well as (if applicable) the Trustee holding any Shears for the Optionee’s behalf) such
separate agreement(s) as may be requested by the Company relating to matters set forth in or otherwise for the purpose of implementing
this Section 18(b). The execution of such separate agreement(s) may be a condition by the Company to the exercise of any Option and the
Company (and, if applicable, the Trustee) may exercise its authorization above and sign such agreement on behalf of the Optionee or subject
the Optionee to the provisions of such agreements. Without limitation of the foregoing, the proxy pursuant to Section 9(f) includes an
authorization of the holder of such proxy to sign, by and on behalf of any Optionee, such documents and agreements.

 

    19

     

    

 

ESOP 2019

 

		(c)	Share Purchase Transactions; Forced Sale. In the event that the Board approves
a Transaction effected by way of a forced or compulsory sale (whether pursuant to the Company’s Articles of Association, pursuant
to Section 341 of the Companies Law or any shareholders agreement or otherwise) or in the event of a transaction for the sale of all shares
of the Company, then, without derogating from such provisions and in addition thereto, the Optionee shall be obligated, and shall be deemed
to have agreed to the offer to effect the Transaction (and the Shares held by or for the benefit of the Optionee shall be included in
the shares of the Company approving the terms of such Transaction for the purpose of satisfying the required majority), and shall sell
all of the Shares held by or for the benefit of the Optionee on the terms and conditions applying to the holders of Shares, in accordance
with the instructions then issued by the Board, whose determination shall be final. No Optionee shall contest, bring any claims or demands,
or exercise any appraisal rights related to any of the foregoing. Each Optionee shall execute (and authorizes any person designated by
the Company to so execute, as well as (if applicable) the Trustee holding any Shares for the Optionee’s behalf) such documents and
agreements, as may be requested by the Company relating to matters set forth in or otherwise for the purpose of implementing this Section
‎18(c). The execution of such separate agreement(s) may be a condition by the Company to the exercise of any Option and the Company
(and, if applicable, the Trustee) may exercise its authorization above and sign such agreement on behalf of the Grantee or subject the
Grantee to the provisions of such agreements. Without limitation of the foregoing, the proxy pursuant to Section 9(f) includes an authorization
of the holder of such proxy to sign, by and on behalf of any Grantee, such documents and agreements as are required to affect the sale
of Shares and otherwise in connection with such Transaction and waivers of any contest, claims, demands or any appraisal rights.

 

		19.	Integration of Section 102 And Tax Commissioner’s Permit

 

		(a)	With regard to Approved 102 Options, the provisions of the Plan and/or the Option Agreement shall be subject
to the provisions of Section 102 of the Tax Ordinance and the Income Tax Commissioner’s permit, and the said provisions and permit
shall be deemed an integral part of the Plan and of the Option Agreement.

 

		(b)	Any provision of Section 102 of the Tax Ordinance and/or the said permit which is necessary in order to
receive and/or to keep any tax benefit pursuant to Section 102 of the Tax Ordinance, which is not expressly specified in the Plan or the
Option Agreement, shall be considered binding upon the Company and the Optionees.

 

		20.	General Provisions

 

		(a)	Withholding. The Company shall have the right to deduct from all amounts payable to an Optionee
in cash (whether under this Plan or otherwise) any taxes required by law to be withheld in respect of Options under this Plan. In the
case of any Option satisfied in the form of Shares, no shares shall be issued unless and until arrangements satisfactory shall have been
made to satisfy any withholding tax obligations applicable with respect to such Option. Without limiting the generality of the foregoing
and subject to such terms and conditions as the Board or the Committee may impose, the Company shall have the right to retain, or the
Board or the Committee may, subject to such terms and conditions as it may establish from time to time, permit Optionees to elect to tender,
Shares (including Shares issuable in respect of an Option) to satisfy, in whole or in part, the amount required to be withheld.

 

		(b)	Condition to Exercise. As a condition to the exercise of an Option, the Board or the Committee
may require the person exercising such Option to represent and warrant at the time of such exercise that the Shares are being purchased
only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company,
such a representation is required. The Company may place a legend on each share certificate to the effect that such shares were acquired
pursuant to an investment representation and are subject to limitations on offers, transfers and sales as the case may be.

 

    20

     

    

 

ESOP 2019

 

		(c)	Compliance with Legal and Exchange Requirements. The Plan, the issuing and exercising of Options
thereunder, and the other obligations of the Company under the Plan, shall be subject to all Applicable Laws, rules and regulations, and
to such approvals by any regulatory or governmental agency as may be required. To the extent required in order to comply with Applicable
Law, the Company, in its discretion, may postpone the issuing and exercising of Options, the issuance or delivery of Shares under any
Option, or any other action permitted under the Plan. The Company may be permitted, with reasonable diligence, to complete such stock
exchange, or similar listing, registration, qualification of such Shares or other required action under any Applicable Law, rules, or
regulations. The Company may require any Optionee to make such representations and furnish such information, as it may consider appropriate
in connection with the issuance or delivery of Shares in compliance with Applicable Laws, rules, and regulations. The Company shall not
be obligated by virtue of any provision of the Plan to recognize the exercise of any Option or to otherwise sell or issue Shares in violation
of any such laws, rules, or regulations.

 

Notwithstanding any other provision
in this Plan, the Company will have no obligation to issue or deliver certificates for Shares under this Plan prior to (i) obtaining any
approvals from governmental agencies that the Company determines are necessary or advisable, and/or (ii) compliance with any exemption,
completion of any registration or other qualification of such Shares under any applicable laws or ruling of any governmental body that
the Company determines to be necessary or advisable. The Company will be under no obligation to register the Shares with the Securities
and Exchange Commission or to effect compliance with the exemption, registration, qualification or listing requirements of any state securities
laws, stock exchange or automated quotation system, and the Company will have no liability for any inability or failure to do so.

 

 

		(d)	Gender and Number. Except when otherwise indicated by the context, words in the masculine gender
used in the Plan shall include the feminine gender, the singular shall include the plural, and the plural shall include the singular.

 

		(e)	Governing Law and Jurisdiction. The validity, construction, interpretation,
administration and effect of the Plan and any rules, regulations and actions relating to the Plan will be governed by and construed exclusively
in accordance with the laws of the State of Israel, notwithstanding the conflicts of laws principles of any jurisdiction. The competent
courts in Tel Aviv shall have sole and exclusive jurisdiction over any dispute with regard to any controversy or claim arising under,
out of, or in connection with this Plan, its validity, its interpretation, its execution or any breach or claimed breach thereof.

 

		21.	Date of Grant

 

Subject to Applicable Laws, the Date
of Grant of an Option shall, for all purposes, and unless determined otherwise in the Optionee’s Option Agreement, be the date on which
the Board or the Committee makes the determination issuing such Option or such other date as shall be determined by the Board or the Committee.

 

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ESOP 2019

 

		22.	Tax Consequences

 

Any tax consequences and/or obligations
regarding other compulsory payments arising from the issuance or exercise of any Option, from the payment for or from the disposition
of Shares covered thereby or from any other event or act (whether of the Optionee, of the Company, of any Subsidiaries or of the Trustee)
hereunder, shall be borne solely by the Optionee. The Company and/or the Trustee shall withhold taxes according to the requirements under
the Applicable Laws, rules, and regulations, including withholding taxes at source. Furthermore, such Optionee shall agree to indemnify
the Company and/or the Trustee, and/or the Company’s shareholders and/or directors and/or office holders if applicable, and hold
them harmless against and from any and all liability for any such tax or interest or penalty thereon, including without limitation, liabilities
relating to the necessity to withhold, or to have withheld, any such tax (and compulsory payment, if any) from any payment made to the
Optionee. Except as otherwise required by law, the Company shall not be obligated to honor the exercise of any Option by or on behalf
of an Optionee until all tax consequences (if any) arising from the exercise of such Options are resolved in a manner reasonably acceptable
to the Company.

 

		23.	Non-Exclusivity of the Plan

 

The adoption of the Plan by the Board
shall not be construed as creating any limitations on the power of the Board or the Committee to adopt such other incentive arrangements
as it may deem desirable, including, without limitation, the issuing of Options otherwise than under the Plan, and such arrangements may
be either applicable generally or only in specific cases.

 

		24.	Inability to Obtain Authority

 

The inability of the Company to obtain
authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the
lawful issuance of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares
as to which such requisite authority shall not have been obtained.

 

		25.	Multiple Agreements

 

The terms of each Option may differ
from other Options issued to each Optionee under the Plan at the same time or at any other time. The Board may also issue more than one
Option to a given Optionee during the term of the Plan, either in addition to, or in substitution for, one or more Options previously
issued to that Optionee.

 

	 	Adopted by the Board on ______, 2019
	 	 
	 	Signed
	 	 
	 	 
	 	Title
	 	 
	 	Cellebrite Mobile Synchronization Ltd.

 

 

22Exhibit 10.10

 

	 	 	 
	 	Cellebrite
        Mobile Synchronization Ltd

     
	 
	 	2019
    Restricted Share and Restricted Share Units Plan	 
	 	 	 

 

Unless
otherwise defined, terms used herein shall have the meaning ascribed to them in Section ‎1 hereof.

 

		1.	PURPOSE;
                                            TYPES OF AWARDS; CONSTRUCTION.

 

1.1.
Purpose. The purpose of this 2019 Restricted Share and Restricted Share Units Plan (as amended, this “Plan”) is to
afford an incentive to Service Providers of Cellebrite Mobile Synchronization Ltd., an Israeli company (together with any successor corporation
thereto, the “Company”), or any Affiliate of the Company, which now exists or hereafter is organized or acquired by the Company
or its Affiliates, to continue as Service Providers, to increase their efforts on behalf of the Company or its Affiliates and to promote
the success of the Company’s business, by providing such Service Providers with opportunities to acquire a proprietary interest
in the Company by the issuance of Shares or restricted Shares (“Restricted Shares”) of the Company, and by the grant of Restricted
Share Units (“RSUs”) and other Share-based Awards pursuant to Sections ‎8 through ‎‎9 of this Plan.

 

1.2.
Types of Awards. This Plan is intended to enable the Company to issue Awards under various tax regimes, including:

 

(i)
pursuant and subject to the provisions of Section 102 of the Ordinance (or the corresponding provision of any subsequently enacted statute,
as amended from time to time), and all regulations and interpretations adopted by any competent authority, including the Israel Tax Authority
(the “ITA”), including the Income Tax Rules (Tax Benefits in Stock Issuance to Employees) 5763-2003 or such other rules so
adopted from time to time (the “Rules”) (such Awards that are intended to be (as set forth in the Award Agreement) and which
qualify as such under Section 102 of the Ordinance and the Rules, “102 Awards”);

 

(ii)
pursuant to Section 3(9) of the Ordinance or the corresponding provision of any subsequently enacted statute, as amended from time to
time (such Awards, “3(9) Awards”);

 

(iii)
pursuant to the Code, or the corresponding provision of any subsequently enacted United States federal tax statute, as amended from time
to time, to be granted to Service Providers who are deemed to be residents of the United States, for purposes of taxation, or are otherwise
subject to U.S. Federal income tax (“U.S. Taxpayers”); and

 

		2.	In
                                            addition to the issuance of Awards under the relevant tax regimes in the United States of
                                            America and the State of Israel, and without derogating from the generality of Section ‎24,
                                            this Plan contemplates issuances to Grantees in other jurisdictions or under other tax regimes
                                            with respect to which the Committee is empowered, but is not required, to make the requisite
                                            adjustments in this Plan and set forth the relevant conditions in an appendix to this Plan
                                            or in the Company’s agreement with the Grantee in order to comply with the requirements
                                            of such other tax regimes.

 

     

     

    

 

2.1.
Company Status. This Plan contemplates the issuance of Awards by the Company, both as a private and public company.

 

2.2.
Construction. To the extent any provision herein conflicts with the conditions of any relevant tax law, rule or regulation which
are relied upon for tax relief in respect of a particular Award to a Grantee, the Committee is empowered, but is not required, hereunder
to determine that the provisions of such law, rule or regulation shall prevail over those of this Plan and to interpret and enforce such
prevailing provisions.

 

		3.	DEFINITIONS.

 

3.1.
Terms Generally. Except when otherwise indicated by the context, (i) the singular shall include the plural and the plural
shall include the singular; (ii) any pronoun shall include the corresponding masculine, feminine and neuter forms; (iii) any definition
of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or
other document as from time to time amended, restated, supplemented or otherwise modified (subject to any restrictions on such amendments,
restatements, supplements or modifications set forth therein or herein), (iv) references to any law, constitution, statute, treaty,
regulation, rule or ordinance, including any section or other part thereof shall refer to it as amended from time to time and shall include
any successor thereof, (v) reference to a “company” or “entity” shall include a, partnership, corporation,
limited liability company, association, trust, unincorporated organization, or a government or agency or political subdivision thereof,
and reference to a “person” shall mean any of the foregoing or an individual, (vi) the words “herein”, “hereof”
and “hereunder”, and words of similar import, shall be construed to refer to this Plan in its entirety, and not to any particular
provision hereof, (vii) all references herein to Sections shall be construed to refer to Sections to this Plan; (viii) the words
“include”, “includes” and “including” shall be deemed to be followed by the phrase “without
limitation”; and (ix) use of the term “or” is not intended to be exclusive.

 

3.2.
Defined Terms. The following terms shall have the meanings ascribed to them in this Section 2:

 

3.2.1.
“Affiliate” shall mean, (i) with respect to any person, any other person that, directly or indirectly through one
or more intermediaries, controls, is controlled by, or is under common control with, such person (with the term “control”
or “controlled by” within the meaning of Rule 405 of Regulation C under the Securities Act),, including, without limitation,
any parent or Subsidiary, or (ii) for the purpose of 102 Awards, “Affiliate” shall only mean an “employing company”
within the meaning and subject to the conditions of Section 102(a) of the Ordinance.

 

3.2.2.
“Applicable Law” shall mean any applicable law, rule, regulation, statute, pronouncement, policy, interpretation,
judgment, order or decree of any federal, provincial, state or local governmental, regulatory or adjudicative authority or agency, of
any jurisdiction, and the rules and regulations of any stock exchange, over-the-counter market or trading system on which the Company’s
shares are then traded or listed.

 

3.2.3.
“Award” shall mean Restricted Share, RSUs or any other Share-based award granted under this Plan.

 

3.2.4.
“Board” shall mean the Board of Directors of the Company.

 

3.2.5.
“Code” shall mean the United States Internal Revenue Code of 1986, and any applicable regulations promulgated thereunder,
all as amended.

 

3.2.6.
“Committee” shall mean a committee established or appointed by the Board to administer this Plan, subject
to Section ‎4.1.

 

    2

     

    

 

3.2.7.
“Companies Law” shall mean the Israel Companies Law, 5759-1999, and the regulations promulgated thereunder, all as
amended from time to time.

 

3.2.8.
“Controlling Shareholder” shall have the meaning set forth in Section 32(9) of the Ordinance.

 

3.2.9.
“Cause” shall mean unless defined otherwise in the Grantee’s Employment agreement (which in such event, such definition
will apply), means, (i) conviction of any felony involving moral turpitude or affecting the Company; (ii) any failure (as a result of
gross negligence or willful misconduct) to carry out, as an employee of the Company or its Subsidiaries, a reasonable directive of the
chief executive officer of the Company, as applicable, the Board or the Grantee’s direct supervisor, which involves the business
of the Company or its Subsidiaries and which was capable of being lawfully performed by Grantee; (iii) embezzlement or theft of funds
of the Company or its Subsidiaries; (iv) any breach of the Grantee’s fiduciary duties or duties of care towards the Company or
of its Subsidiaries; including, without limitation, self-dealing, prohibited disclosure of confidential information of, or relating to,
the Company or its Subsidiaries, or engagement in any business competitive to the business of the Company; (v) any conduct (other than
conduct in good faith) reasonably determined by the Board to be materially detrimental to the Company; and (vi) any other event defined
as “Cause” under the Grantee’s employment or engagement agreement with the Company.

 

3.2.10.
“Disability” shall mean unless defined otherwise in the Grantee’s Employment agreement, shall mean (i) the inability
of a Grantee to engage in any substantial gainful activity or to perform the major duties of the Grantee’s position with the Company
or its Affiliates by reason of any medically determinable physical or mental impairment which has lasted for a continuous period of not
less than 6 months (or such other period as determined by the Committee), as determined by a qualified doctor acceptable to the Company,
(ii) if applicable, a “permanent and total disability” as defined in Section 22(e)(3) of the Code or Section 409A(a)(2)(c)(i)
of the Code, as amended from time to time, or (iii) as defined in a policy of the Company that the Committee deems applicable to this
Plan, or that makes reference to this Plan, for purposes of this definition. Notwithstanding the foregoing, for Awards that are subject
to Section 409A of the Code, Disability shall mean that a Participant is disabled under Section 409A(a)(2)(C)(i) or (ii) of the Code.

 

3.3.
“Employee” shall mean any person treated as an employee (including an officer or a director who is also treated as
an employee) in the records of the Company or any of its Affiliates; provided, however, that neither service as a director nor payment
of a director’s fee shall be sufficient to constitute employment for purposes of this Plan. The Company shall determine in good
faith and in the exercise of its discretion whether an individual has become or has ceased to be an Employee and the effective date of
such individual’s employment or termination of employment, as the case may be. For purposes of a person’s rights, if any,
under this Plan as of the time of the Company’s determination, all such determinations by the Company shall be final, binding and
conclusive, notwithstanding that the Company or any court of law or governmental agency subsequently makes a contrary determination.

 

3.3.1.
“employment”, “employed” and words of similar import shall be deemed to refer to the employment
of Employees or to the services of any other Service Provider, as the case may be.

 

3.3.2.
“Global Co-CEOs” shall mean Yossi Carmil and Ron Serber.

 

3.3.3.
“Grantee” shall mean a person who has been granted an Award(s) under this Plan.

 

    3

     

    

 

3.3.4.
“Ordinance” shall mean the Israeli Income Tax Ordinance (New Version) 1961, and the regulations and rules (including
the Rules) promulgated thereunder, all as amended from time to time.

 

3.3.5.
“Retirement” shall mean a Grantee’s retirement pursuant to Applicable Law or in accordance with the terms of
any tax-qualified retirement plan maintained by the Company or any of its Affiliates in which the Grantee participates or is subject
to.

 

3.3.6.
“Securities Act” shall mean the U.S. Securities Act of 1933, and the rules and regulations promulgated thereunder,
all as amended from time to time.

 

3.3.7.
“Service Provider” shall mean an Employee, director, officer, consultant, advisor and any other person or entity who
provides services to the Company or any parent, Subsidiary or Affiliate thereof. Service Providers shall include prospective Service
Providers to whom Awards are granted in connection with written offers of an employment or other service relationship with the Company
or any parent, Subsidiary or any Affiliates thereof, provided however that such employment or service shall have actually commenced.

 

3.3.8.
“Shares” shall mean Ordinary Shares, nominal value NIS 0.00001 of the Company (as adjusted for stock split, reverse
stock split, bonus shares, combination or other recapitalization events). “Shares” include any securities, property or rights
issued or distributed with respect thereto.

 

3.3.9.
“Subsidiary” shall mean any company (other than the Company), which now exists or is hereafter organized or acquired
by the Company in an unbroken chain of companies beginning with the Company if, at the time of granting an Award, each of the companies
other than the last company in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting power
of all classes of stock in one of the other companies in such chain.

 

3.4.
“tax(es)” shall mean (a) all federal, state, local or foreign taxes, charges, fees, imposts, levies or other assessments,
including all income, capital gains, alternative or add-on minimum, transfer, value added tax, real and personal property, withholding,
payroll, employment, escheat, social security, disability, national security, health tax, wealth surtax, stamp, registration and estimated
taxes, customs duties, fees, assessments and charges of any similar kind whatsoever (including under Section 280G of the Code) or other
tax of any kind whatsoever, (b) all interest, indexation differentials, penalties, fines, additions to tax or additional amounts imposed
by any taxing authority in connection with any item described in clause (a), (c) any transferee or successor liability in respect of
any items described in clauses (a) or (b) payable by reason of contract, assumption, transferee liability, successor liability, operation
of Applicable Law, or as a result of any express or implied obligation to assume Taxes or to indemnify any other person, and (d) any
liability for the payment of any amounts of the type described in clause (a) or (b) payable as a result of being a member of an affiliated,
consolidated, combined, unitary or aggregate or other group for any taxable period, including under U.S. Treasury Regulations Section
1.1502-6(a) (or any predecessor or successor thereof of any analogous or similar provision under Law) or otherwise.

 

3.4.1.
“Trustee” shall mean the trustee appointed by the Board to hold the Awards (and, in relation with 102 Awards, approved
by the ITA), if so appointed.

 

		4.	ADMINISTRATION.

 

4.1.
To the extent permitted under Applicable Law, the Articles of Association and any other governing document of the Company, this Plan
shall be administered by the Committee. In the event that the Board does not appoint or establish a committee to administer this Plan,
this Plan shall be administered by the Board, and, accordingly, any and all references herein to the Committee shall be construed as
references to the Board. In the event that an action necessary for the administration of this Plan is required under Applicable Law to
be taken by the Board without the right of delegation, or if such action or power was explicitly reserved by the Board in appointing,
establishing and empowering the Committee, then such action shall be so taken by the Board. In any such event, all references herein
to the Committee shall be construed as references to the Board. Even if such a Committee was appointed or established, the Board may
take any actions that are stated to be vested in the Committee, and shall not be restricted or limited from exercising all rights, powers
and authorities under this Plan or Applicable Law.

 

    4

     

    

 

4.2.
The Board shall appoint the members of the Committee, may from time to time remove members from, or add members to, the Committee, and
shall fill vacancies in the Committee, however caused, provided that the composition of the Committee shall at all times be in compliance
with any mandatory requirements of Applicable Law, the Articles of Association and any other governing document of the Company. The Committee
may select one of its members as its Chairman and shall hold its meetings at such times and places as it shall determine. The Committee
may appoint a Secretary, who shall keep records of its meetings, and shall make such rules and regulations for the conduct of its business
as it shall deem advisable and subject to mandatory requirements of Applicable Law.

 

4.3.
Subject to the terms and conditions of this Plan, any mandatory provisions of Applicable Law and any provisions of any Company policy
required under mandatory provisions of Applicable Law, and in addition to the Committee’s powers contained elsewhere in this Plan,
the Committee shall have full authority, in its discretion, from time to time and at any time, to determine any of the following, or
to recommend to the Board any of the following if it is not authorized to take such action according to Applicable Law:

 

(i)
eligible Grantees,

 

(ii)
grants of Awards and setting the terms and provisions of Award Agreements (which need not be identical) and any other agreements or instruments
under which Awards are made, including, but not limited to, the number of Shares underlying each Award,

 

(iii)
the time or times at which Awards shall be granted,

 

(iv)
the terms, conditions and restrictions applicable to each Award (which need not be identical) and any Shares acquired upon the grant
or (if applicable) vesting thereof, including, without limitation, (1) designating Awards under Section ‎1.2; (2) the vesting schedule,
the acceleration thereof and terms and conditions upon which Awards may become vested, (3) the method of payment for Shares purchased
upon the grant or (if applicable) vesting of the Awards, (4) the method for satisfaction of any tax withholding obligation arising in
connection with the Awards or such Shares, including by the withholding or delivery of Shares, (5) the time of the expiration of the
Awards, (6) the effect of the Grantee’s termination of employment with the Company or any of its Affiliates, and (7) all other
terms, conditions and restrictions applicable to the Award or the Shares not inconsistent with the terms of this Plan,

 

(v)
to accelerate vesting (including, but not limited to electing whether to accelerate vesting in the event of a Merger/Sale, Death or Disability
and/or termination without a Cause), continue, extend or defer the exercisability of any Award or the vesting thereof, including with
respect to the period following a Grantee’s termination of employment or other service,

 

(vi)
the interpretation of this Plan and any Award Agreement and the meaning, interpretation and applicability of terms referred to in Applicable
Laws,

 

(vii)
policies, guidelines, rules and regulations relating to and for carrying out this Plan, and any amendment, supplement or rescission thereof,
as it may deem appropriate,

 

    5

     

    

 

(viii)
to adopt supplements to, or alternative versions of, this Plan, including, without limitation, as it deems necessary or desirable to
comply with the laws of, or to accommodate the tax regime or custom of, foreign jurisdictions whose citizens or residents may be granted
Awards,

 

(ix)
the tax track (capital gains, ordinary income track or any other track available under the Section 102 of the Ordinance) for the purpose
of 102 Awards,

 

(x)
the authorization and approval of conversion, substitution, cancellation or suspension under and in accordance with this Plan of any
or all Awards or Shares,

 

(xi)
the amendment, modification, waiver or supplement of the terms of each outstanding Award (with the consent of the applicable Grantee,
if such amendments refers to reduction of the number of Shares underlying an Award (but, in each case, other than as a result of an adjustment
or grant of rights in accordance with Section ‎13)) unless otherwise provided under the terms of this Plan,

 

(xii)
without limiting the generality of the foregoing, and subject to the provisions of Applicable Law, to grant to a Grantee, who is the
holder of an outstanding Award, in exchange for the cancellation of such Award, a new Award containing such other terms and conditions
as the Committee may prescribe in accordance with the provisions of this Plan,

 

(xiii)
to correct any defect, supply any omission or reconcile any inconsistency in this Plan or any Award Agreement and all other determinations
and take such other actions with respect to this Plan or any Award as it may deem advisable to the extent not inconsistent with the provisions
of this Plan or Applicable Law, and

 

(xiv)
any other matter which is necessary or desirable for, or incidental to, the administration of this Plan and any Award thereunder.

 

4.4.
The authority granted hereunder includes the authority to modify Awards to eligible individuals who are foreign nationals or are individuals
who are employed outside Israel to recognize differences in local law, tax policy or custom, in order to effectuate the purposes of this
Plan but without amending this Plan.

 

4.5.
The Board and the Committee shall be free at all times to make such determinations and take such actions as they deem fit. The Board
and the Committee need not take the same action or determination with respect to all Awards, with respect to certain types of Awards,
with respect to all Service Providers or any certain type of Service Providers and actions and determinations may differ as among the
Grantees, and as between the Grantees and any other holders of securities of the Company.

 

4.6.
All decisions, determinations, and interpretations of the Committee, the Board and the Company under this Plan shall be final and binding
on all Grantees (whether before or after the issuance of Shares pursuant to Awards), unless otherwise determined by the Committee, the
Board or the Company, respectively. The Committee shall have the authority (but not the obligation) to determine the interpretation and
applicability of Applicable Laws to any Grantee or any Awards. No member of the Committee or the Board shall be liable to any Grantee
for any action taken or determination made in good faith with respect to this Plan or any Award granted hereunder.

 

4.7.
Any officer or authorized signatory of the Company shall have the authority to act on behalf of the Company with respect to any matter,
right, obligation, determination or election which is the responsibility of or which is allocated to the Company herein, provided such
person has apparent authority with respect to such matter, right, obligation, determination or election. Such person or authorized signatory
shall not be liable to any Grantee for any action taken or determination made in good faith with respect to this Plan or any Award granted
hereunder.

 

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		5.	ELIGIBILITY.

 

5.1.
Awards may be granted to Service Providers of the Company or any Affiliate thereof, taking into account, at the Committee’s discretion
and without an obligation to do so, the qualification under each tax regime pursuant to which such Awards are granted. A person who has
been granted an Award hereunder may be granted additional Awards, if the Committee shall so determine, subject to the limitations herein.
However, eligibility in accordance with this Section ‎5 shall not entitle any person to be granted an Award, or, having been granted
an Award, to be granted an additional Award.

 

5.2.
Awards may differ in number of Shares covered thereby, the terms and conditions applying to them or on the Grantees or in any other respect
(including, that there should not be any expectation (and it is hereby disclaimed) that a certain treatment, interpretation or position
granted to one shall be applied to the other, regardless of whether or not the facts or circumstances are the same or similar).

 

		6.	SHARES.

 

6.1.
The maximum aggregate number of Shares that may be issued pursuant to Awards under this Plan (the “Pool”) shall initially
be 6,000,000 authorized but unissued Shares (except and as adjusted pursuant to Section ‎13.1 of this Plan), or such other
number as the Board may determine from time to time (without the need to amend the Plan in case of such determination).

 

6.2.
Any Shares under the Pool that are not subject to outstanding or granted Awards at the termination of this Plan shall cease to be reserved
for the purpose of this Plan.

 

		7.	TERMS
                                            AND CONDITIONS OF AWARDS.

 

Each
Award granted pursuant to this Plan shall be evidenced by a written or electronic agreement between the Company and the Grantee or a
written or electronic notice delivered by the Company (the “Award Agreement”), in substantially such form or forms and containing
such terms and conditions, as the Committee shall from time to time approve. The Award Agreement shall comply with and be subject to
the following general terms and conditions and the provisions of this Plan (except for any provisions applying to Awards under different
tax regimes), unless otherwise specifically provided in such Award Agreement, or the terms referred to in other Sections of this Plan
applying to Awards under such applicable tax regimes, or terms prescribed by Applicable Law. Award Agreements need not be in the same
form and may differ in the terms and conditions included therein.

 

7.1.
Number of Shares. Each Award Agreement shall state the number of Shares covered by the Award.

 

7.2.
Type of Award. Each Award Agreement may state the type of Award granted thereunder, provided that the tax treatment of any Award,
whether or not stated in the Award Agreement, shall be as determined in accordance with Applicable Laws.

 

7.3.
Purchase Price. Each Award Agreement shall state the purchase price, if applicable.

 

7.4.
Term and Vesting of Awards.

 

7.4.1.
Each Award Agreement shall provide the vesting schedule for the Award as determined by the Committee. The Committee shall have the authority
to determine the vesting schedule and accelerate the vesting of any outstanding Award at such time and under such circumstances as it,
in its sole discretion, deems appropriate. Unless otherwise resolved by the Committee and stated in the Award Agreement, and subject
to Sections ‎7.5 and ‎‎7.6 hereof, Awards shall vest under the following schedule: twenty-five percent (25%) of the Shares
covered by the Award, on the first anniversary of the vesting commencement date determined by the Committee (and in the absence of such
determination, of date on which such Award was granted), and six and one-quarter percent (6.25%) of the Shares covered by the Award at
the end of each subsequent three-month period thereafter over the course of the following three (3) years; provided that the Grantee
remains continuously as a Service Provider of the Company or its Affiliates throughout such vesting dates.

 

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7.5.
Termination.

 

7.5.1.
Unless otherwise determined by the Committee, and subject to Section ‎‎7.6 hereof, an Award may not be issued unless the Grantee
is then a Service Provider of the Company or an Affiliate thereof and unless the Grantee has remained continuously so employed since
the date of grant of the Award and throughout the vesting dates.

 

7.5.2.
In the event that the employment or service of a Grantee shall terminate (other than as specifically set in the Grantee’s employment
agreement or in the event the Board or the Committee decides otherwise), all Awards of such Grantee that are unvested at the time of
such termination shall terminate on the date of such termination; provided, however, that if the Company (or the Subsidiary or Affiliate,
when applicable) shall terminate the Grantee’s employment or service for Cause (as defined below), all Awards theretofore shall
terminate on the date of such notice of termination (or on such subsequent date on which such facts or circumstances arise or are discovered,
as the case may be) unless otherwise determined by the Committee; and any Shares issued (including other Shares or securities issued
or distributed with respect thereto), whether held by the Grantee or by the Trustee for the Grantee’s benefit, shall be deemed
to be irrevocably offered for sale to the Company, any of its Affiliates or any person designated by the Company to purchase, at the
Company’s election and subject to Applicable Law, either for no consideration, for the nominal value of such Shares (if shares
bear a nominal value) or against payment as the Committee deems fit, upon written notice to the Grantee at any time after the Grantee’s
termination of employment or service. Such Shares or other securities shall be sold and transferred within 30 days from the date of the
Company’s notice of its election to grant its right. If the Grantee fails to transfer such Shares or other securities to the Company,
the Company, at the decision of the Committee, shall be entitled to forfeit or repurchase such Shares and to authorize any person to
execute on behalf of the Grantee any document necessary to effect such transfer, whether or not the share certificates are surrendered.
The Company shall have the right and authority to affect the above either by: (i) repurchasing all of such Shares or other securities
held by the Grantee or by the Trustee for the benefit of the Grantee, or designate any other person who shall have the right and authority
to purchase all of Such Shares or other securities, for the nominal value of such Shares (if shares bear a nominal value) or for no payment
or consideration whatsoever, as the Committee deems fit; (ii) forfeiting all such Shares or other securities; (iii) redeeming all such
Shares or other securities, for no payment or consideration whatsoever, as the Committee deems fit; (iv) taking action in order to have
such Shares or other securities converted into deferred shares entitling their holder only to their nominal value (if shares bear a nominal
value) upon liquidation of the Company; or (v) taking any other action which may be required in order to achieve similar results; all
as shall be determined by the Committee, at its sole and absolute discretion, and the Grantee is deemed to irrevocably empower the Company
or any person which may be designated by it to take any action by, in the name of or on behalf of the Grantee to comply with and give
effect to such actions (including, voting such shares, filling in, signing and delivering share transfer deeds, etc.).

 

7.5.3.
Notwithstanding anything to the contrary, the Committee, in its absolute discretion, may, on such terms and conditions as it may determine
appropriate, extend the periods for which Awards held by any Grantee may continue to vest; it being clarified that such Awards may lose
their entitlement to certain tax benefits under Applicable Law as a result of the modification of such Awards.

 

7.5.4.
For purposes of this Plan:

 

7.5.4.1.
a termination of employment or service of a Grantee shall not be deemed to occur in case of (i) a transition or transfer of a Grantee
among the Company and its Affiliates, (ii) a change in the capacity in which the Grantee is employed or renders service to the Company
or any of its Affiliates or a change in the identity of the employing or engagement entity among the Company and its Affiliates, provided,
in case of (i) and (ii) above, that the Grantee has remained continuously employed by and/or in the service of the Company and its Affiliates
since the date of grant of the Award and throughout the vesting period; or (iii) if the Grantee takes any unpaid leave as set forth in
Section ‎‎7.7(i) below.

 

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7.5.4.2.
An entity or an Affiliate thereof assuming an Award or issuing in substitution thereof in a transaction to which constitutes a “corporate
transaction” within the meaning of Section 1.424 of the Treasury Regulations issued under the Code applies or in a Merger/Sale
in accordance with Section ‎13.2 shall be deemed as an Affiliate of the Company for purposes of this Section ‎7.5, unless the
Committee determines otherwise.

 

7.5.4.3.
In the case of a Grantee whose principal employer or service recipient is a Subsidiary or Affiliate, the Grantee’s employment shall
also be deemed terminated for purposes of this Section ‎7.5.4.3 as of the date on which such principal employer or service recipient
ceases to be a Subsidiary or Affiliate.

 

7.6.
Death, Disability or Retirement of Grantee.

 

7.7.
If a Grantee shall die while employed by, or performing service for, the Company or its Affiliates, or if the Grantee’s employment
or service shall terminate by reason of Disability, all unvested Awards theretofore granted to such Grantee shall be immediately vested
to the Grantee or by the Grantee’s estate. In the event that the employment or service of a Grantee shall terminate on account
of such Grantee’s Retirement, all Awards of such Grantee that are unvested at the time of such Retirement shall, unless earlier
terminated in accordance with their terms, be immediately vested.

 

7.8.
Suspension of Vesting. Unless the Committee provides otherwise, vesting of Awards granted hereunder shall be suspended during
any unpaid leave of absence, other than in the case of any (i) leave of absence which was pre-approved by the Company explicitly for
purposes of continuing the vesting of Awards, or (ii) transfers between locations of the Company or any of its Affiliates, or between
the Company and any of its Affiliates, or any respective successor thereof. For clarity, for purposes of this Plan, military leave, paid
maternity or paternity leave or paid sick leave are not deemed unpaid leave of absence.

 

7.9.
Securities Law Restrictions. Except as otherwise provided in the applicable Award Agreement or other agreement between the Service
Provider and the Company, if the issuance of a Share following the termination of the Service Provider’s employment or service
(other than for Cause) would be prohibited at any time solely because the issuance of Shares would violate the registration requirements
under the Securities Act or equivalent requirements under equivalent laws of other applicable jurisdictions, then the Shares shall be
issued once all approvals are received and there are no limitations on such issuance, provided that such Award shall terminate on the
earlier of (i) the expiration of a period of three (3) months (or such longer period of time as determined by the Board,
in its discretion) after the termination of the Service Provider’s employment or service during which the exercise of the Award
would not be in such violation, or (ii) the expiration of the term of the Award as set forth in the Award Agreement or pursuant
to this Plan. In addition, unless otherwise provided in a Grantee’s Award Agreement, if the vesting of an Award following the termination
of the Grantee’s employment or service (other than for Cause) would violate the Company’s insider trading policy, then the
Award shall terminate on the earlier of (i) the expiration of a period equal to the applicable post-termination exercise period
after the termination of the Grantee’s employment or service during which the exercise of the Award would not be in violation of
the Company’s insider trading policy, or (ii) the expiration of the term of the Award as set forth in the applicable Award
Agreement or pursuant to this Plan.

 

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7.10.
Voting Proxy. Until immediately after the listing for trading on a stock exchange or market or trading system of the Company’s
(or the Successor Corporation’s) shares, the Shares subject to an Award or to be issued pursuant to an Award or any other Securities,
other than Shares subject to an Award to be issued to each of the Global Co-CEOs shall, unless otherwise determined by the Committee
and/or in the Award Agreement, be subject to an irrevocable proxy and power of attorney, coupled with an interest, by the Grantee or
the Trustee (if so requested from the Trustee), as the case may be, to the Company, which shall designate such person or persons (with
a right of substitution) from time to time as determined by the Committee (and in the absence of such determination, the Chief Executive
Officer of the Company or the Chairman of the Board, ex officio), which shall not be revocable by the Grantee in any manner or for any
reason. The Trustee is deemed to be instructed by the Grantee to sign such proxy, as requested by the Company. The proxy shall entitle
the holder thereof to receive notices, vote and take such other actions in respect of the Shares or other Securities. Any person holding
or exercising such voting proxies shall do so solely in his capacity as the proxy holder and not individually. All Awards, other than
Awards to the Company’s Global Co-CEOs, granted hereunder shall be conditioned upon the execution of such irrevocable proxy in
substantially the form prescribed by the Committee from time to time. So long as any such Shares are subject to such irrevocable proxy
and power of attorney or held by a Trustee (and unless a proxy was given by the Trustee as aforesaid), (i) in any shareholders meeting
or written consent in lieu thereof, such Shares shall be voted by the proxy holder (or the Trustee, as applicable), unless directed otherwise
by the Board, in the same proportion as the result of the vote at the shareholders’ meeting (or written consent in lieu thereof)
in respect of which the Shares are being voted (whether an extraordinary or annual meeting, and whether of the share capital as one class
or of any class thereof), and (ii) or in any act or consent of shareholders under the Company’s Articles of Association or otherwise,
such Shares shall be cast by the proxy holder (or the Trustee, as applicable), unless directed otherwise by the Board, in the same proportion
as the result of the shareholders’ act or consent. The provisions of this Section shall apply to the Grantee and to any purchaser,
assignee or transferee of any Shares therefrom.

 

7.11.
Other Provisions. The Award Agreement evidencing Awards under this Plan shall contain such other terms and conditions not inconsistent
with this Plan as the Committee may determine, at or after the date of grant, including provisions in connection with the restrictions
on transferring the Awards or Shares covered by such Awards, which shall be binding upon the Grantees and any purchaser, assignee or
transferee of any Awards, and other terms and conditions as the Committee shall deem appropriate.

 

		8.	102
                                            AWARDS.

 

Awards
granted pursuant to this Section ‎8 are intended to constitute 102 Awards and shall be granted subject to the following special terms
and conditions, the general terms and conditions specified in Section ‎7 hereof and other provisions of this Plan, except for any
provisions of this Plan applying to Awards under different tax laws or regulations. In the event of any inconsistency or contradictions
between the provisions of this Section ‎8 and the other terms of this Plan, this Section ‎8 shall prevail.

 

8.1.
Tracks. Awards granted pursuant to this Section ‎8 are intended to be granted pursuant to Section 102 of the Ordinance
pursuant to either (i) Section 102(b)(2) or (3) thereof (as applicable), under the capital gain track (“102 Capital Gain Track
Awards”), or (ii) Section 102(b)(1) thereof under the ordinary income track (“102 Ordinary Income Track Awards”,
and together with 102 Capital Gain Track Awards, “102 Trustee Awards”). 102 Trustee Awards shall be granted subject
to the special terms and conditions contained in this Section ‎8, the general terms and conditions specified in Section ‎7 hereof
and other provisions of this Plan, except for any provisions of this Plan applying to Awards under different tax laws or regulations.

 

8.2.
Election of Track. Subject to Applicable Law, the Company may grant only one type of 102 Trustee Awards at any given time to all
Grantees who are to be granted 102 Trustee Awards pursuant to this Plan, and shall file an election with the ITA regarding the type of
102 Trustee Awards it elects to grant before the date of grant of any 102 Trustee Awards (the “Election”). Such Election
shall also apply to any other securities, including bonus shares, received by any Grantee as a result of holding the 102 Trustee Awards.
The Company may change the type of 102 Trustee Awards that it elects to grant only after the expiration of at least 12 months from the
end of the year in which the first grant was made in accordance with the previous Election, or as otherwise provided by Applicable Law.
Any Election shall not prevent the Company from granting Awards, pursuant to Section 102(c) of the Ordinance without a Trustee (“102
Non-Trustee Awards”).

 

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8.3.
Eligibility for Awards.

 

8.3.1.
Subject to Applicable Law, 102 Awards may only be granted to an “employee” within the meaning of Section 102(a) of the Ordinance
(which as of the date of the adoption of this Plan means (i) individuals employed by an Israeli company being the Company or any of its
Affiliates, and (ii) individuals who are serving and are engaged personally (and not through an entity) as “office holders”
by such an Israeli company), but may not be granted to a Controlling Shareholder (“Eligible 102 Grantees”). Eligible 102
Grantees may receive only 102 Awards, which may either be granted to a Trustee or granted under Section 102 of the Ordinance without
a Trustee.

 

8.4.
102 Award Grant Date.

 

8.4.1.
Each 102 Award will be deemed granted on the date determined by the Committee, subject to Section ‎8.4.2, provided that (i) the Grantee
has signed all documents required by the Company or pursuant to Applicable Law, and (ii) with respect to 102 Trustee Award, the Company
has provided all applicable documents to the Trustee in accordance with the guidelines published by the ITA, and if an agreement is not
signed and delivered by the Grantee within 90 days from the date determined by the Committee (subject to Section ‎8.4.2), then such
102 Trustee Award shall be deemed granted on such later date as such agreement is signed and delivered and on which the Company has provided
all applicable documents to the Trustee in accordance with the guidelines published by the ITA. In the case of any contradiction, this
provision and the date of grant determined pursuant hereto shall supersede and be deemed to amend any date of grant indicated in any
corporate resolution or Award Agreement.

 

8.4.2.
Unless otherwise permitted by the Ordinance, any grants of 102 Trustee Awards that are made on or after the date of the adoption of this
Plan or an amendment to this Plan, as the case may be, that may become effective only at the expiration of thirty (30) days after the
filing of this Plan or any amendment thereof (as the case may be) with the ITA in accordance with the Ordinance shall be conditional
upon the expiration of such 30-day period, such condition shall be read and is incorporated by reference into any corporate resolutions
approving such grants and into any Award Agreement evidencing such grants (whether or not explicitly referring to such condition), and
the date of grant shall be at the expiration of such 30-day period, whether or not the date of grant indicated therein corresponds with
this Section. In the case of any contradiction, this provision and the date of grant determined pursuant hereto shall supersede and be
deemed to amend any date of grant indicated in any corporate resolution or Award Agreement.

 

8.5.
102 Trustee Awards.

 

8.5.1.
Each 102 Trustee Award, each Share issued pursuant to the grant or vesting of any 102 Trustee Award, and any rights granted thereunder,
including bonus shares, shall be issued to and registered in the name of the Trustee and shall be held in trust for the benefit of the
Grantee for the requisite period prescribed by the Ordinance or such longer period as set by the Committee (the “Required Holding
Period”). In the event that the requirements under Section 102 of the Ordinance to qualify an Award as a 102 Trustee Award
are not met, then the Award may be treated as a 102 Non-Trustee Award or 3(9) Award or an Award subject to Section 2 of the Ordinance,
all in accordance with the provisions of the Ordinance. After expiration of the Required Holding Period, the Trustee may release such
Shares, provided that (i) the Trustee has received an acknowledgment from the ITA that the Grantee has paid any applicable taxes due
pursuant to the Ordinance, or (ii) the Trustee and/or the Company and/or its Affiliate withholds all applicable taxes and compulsory
payments due pursuant to the Ordinance arising from the 102 Trustee Awards and/or any Shares issued upon grant or (if applicable) vesting
of such 102 Trustee Awards. The Trustee shall not release any 102 Trustee Awards or Shares issued upon grant or (if applicable) vesting
thereof prior to the payment in full of the Grantee’s tax and compulsory payments arising from such 102 Trustee Awards and/or Shares
or the withholding referred to in (ii) above.

 

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8.5.2.
Each 102 Trustee Award shall be subject to the relevant terms of the Ordinance, the Rules and any determinations, rulings or approvals
issued by the ITA, which shall be deemed an integral part of the 102 Trustee Awards and shall prevail over any term contained in this
Plan or Award Agreement that is not consistent therewith. Any provision of the Ordinance, the Rules and any determinations, rulings or
approvals by the ITA not expressly specified in this Plan or Award Agreement that are necessary to receive or maintain any tax benefit
pursuant to Section 102 of the Ordinance shall be binding on the Grantee. The Grantee granted a 102 Trustee Awards shall comply with
the Ordinance and the terms and conditions of the trust agreement entered into between the Company and the Trustee. The Grantee shall
execute any and all documents that the Company and/or its Affiliates and/or the Trustee determine from time to time to be necessary in
order to comply with the Ordinance and the Rules.

 

8.5.3.
During the Required Holding Period, the Grantee shall not release from trust or sell, assign, transfer or give as collateral, the Shares
issuable upon the grant or (if applicable) vesting of a 102 Trustee Awards and/or any securities issued or distributed with respect thereto,
until the expiration of the Required Holding Period. Notwithstanding the above, if any such sale, release or other action occurs during
the Required Holding Period it may result in adverse tax consequences to the Grantee under Section 102 of the Ordinance and the Rules,
which shall apply to and shall be borne solely by such Grantee. Subject to the foregoing, the Trustee may, pursuant to a written request
from the Grantee, but subject to the terms of this Plan, release and transfer such Shares to a designated third party, provided that
both of the following conditions have been fulfilled prior to such release or transfer: (i) payment has been made to the ITA of all taxes
and compulsory payments required to be paid upon the release and transfer of the Shares, and confirmation of such payment has been received
by the Trustee and the Company, and (ii) the Trustee has received written confirmation from the Company that all requirements for such
release and transfer have been fulfilled according to the terms of the Company’s corporate documents, any agreement governing the
Shares, this Plan, the Award Agreement and any Applicable Law.

 

8.5.4.
If a 102 Trustee Award is granted or (if applicable) vested, the Shares issued upon such grant or (if applicable) vesting shall be issued
in the name of the Trustee for the benefit of the Grantee.

 

8.5.5.
Upon or after receipt of a 102 Trustee Award, if required, the Grantee may be required to sign an undertaking to release the Trustee
from any liability with respect to any action or decision duly taken and executed in good faith by the Trustee in relation to this Plan,
or any 102 Trustee Awards or Share granted to such Grantee thereunder.

 

8.6.
102 Non-Trustee Awards. The foregoing provisions of this Section ‎8 relating to 102 Trustee Awards shall not apply with respect
to 102 Non-Trustee Awards, which shall, however, be subject to the relevant provisions of Section 102 of the Ordinance and the applicable
Rules. The Committee may determine that 102 Non-Trustee Awards, the Shares issuable upon the grant or (if applicable) vesting of a 102
Non-Trustee Awards and/or any securities issued or distributed with respect thereto, shall be allocated or issued to the Trustee, who
shall hold such 102 Non-Trustee Awards and all accrued rights thereon (if any), in trust for the benefit of the Grantee and/or the Company,
as the case may be, until the full payment of tax arising from the 102 Non-Trustee Awards, the Shares issuable upon the grant or (if
applicable) vesting of a 102 Non-Trustee Awards and/or any securities issued or distributed with respect thereto. The Company may choose,
alternatively, to force the Grantee to provide it with a guarantee or other security, to the satisfaction of each of the Trustee and
the Company, until the full payment of the applicable taxes.

 

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8.7.
Written Grantee Undertaking. To the extent and with respect to any 102 Trustee Award, and as required by Section 102 of the Ordinance
and the Rules, by virtue of the receipt of such Award, the Grantee is deemed to have undertaken and confirm in writing the following
(and such undertaking is deemed incorporated into any documents signed by the Grantee in connection with the employment or service of
the Grantee and/or the grant of such Award). The following written undertaking shall be deemed to apply and relate to all 102 Trustee
Awards granted to the Grantee, whether under this Plan or other plans maintained by the Company, and whether prior to or after the date
hereof.

 

8.7.1.
The Grantee shall comply with all terms and conditions set forth in Section 102 of the Ordinance with regard to the “Capital Gain
Track” or the “Ordinary Income Track”, as applicable, and the applicable rules and regulations promulgated thereunder,
as amended from time to time;

 

8.7.2.
The Grantee is familiar with, and understands the provisions of, Section 102 of the Ordinance in general, and the tax arrangement under
the “Capital Gain Track” or the “Ordinary Income Track” in particular, and its tax consequences; the Grantee
agrees that the 102 Trustee Awards and Shares that may be issued upon exercise or (if applicable) vesting of the 102 Trustee Awards (or
otherwise in relation to the 102 Trustee Awards), will be held by a trustee appointed pursuant to Section 102 of the Ordinance for at
least the duration of the “Holding Period” (as such term is defined in Section 102) under the “Capital Gain Track”
or the “Ordinary Income Track”, as applicable. The Grantee understands that any release of such 102 Trustee Awards or Shares
from trust, or any sale of the Share prior to the termination of the Holding Period, as defined above, will result in taxation at marginal
tax rate, in addition to deductions of appropriate social security, health tax contributions or other compulsory payments; and

 

8.7.3.
The Grantee agrees to the trust deed signed between the Company, his employing company and the trustee appointed pursuant to Section
102 of the Ordinance.

 

		9.	3(9)
                                            AWARDS.

 

9.1.
RSUs granted pursuant to this Section ‎9 are intended to constitute 3(9) Awards and shall be granted subject to the general terms
and conditions specified in Section ‎7 hereof and other provisions of this Plan, except for any provisions of this Plan applying
to Awards under different tax laws or regulations. In the event of any inconsistency or contradictions between the provisions of this
Section ‎9 and the other terms of this Plan, this Section ‎9 shall prevail.

 

9.2.
To the extent required by the Ordinance or the ITA or otherwise deemed by the Committee to be advisable, the 3(9) Awards and/or any shares
or other securities issued or distributed with respect thereto granted pursuant to this Plan shall be issued to a Trustee nominated by
the Committee in accordance with the provisions of the Ordinance. In such event, the Trustee shall hold such Awards and/or any shares
or other securities issued or distributed with respect thereto in trust, until exercised or (if applicable) vested by the Grantee and
the full payment of tax arising therefrom, pursuant to the Company’s instructions from time to time as set forth in a trust agreement,
which will have been entered into between the Company and the Trustee. If determined by the Board or the Committee, and subject to such
trust agreement, the Trustee shall be responsible for withholding any taxes to which a Grantee may become liable upon issuance of Shares,
whether due to the exercise or (if applicable) vesting of Awards.

 

9.3.
Shares pursuant to a 3(9) Award shall not be issued, unless the Grantee delivers to the Company payment in cash or by bank check or such
other form acceptable to the Committee of all withholding taxes due, if any, on account of the Grantee acquired Shares under the Award
or gives other assurance satisfactory to the Committee of the payment of those withholding taxes.

 

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		10.	RESTRICTED
                                            SHARES.

 

The
Committee may award Restricted Shares to any eligible Grantee, including under Section 102 of the Ordinance. Each Award of Restricted
Shares under this Plan shall be evidenced by a written agreement between the Company and the Grantee (the “Restricted Share
Agreement”), in such form as the Committee shall from time to time approve. The Restricted Shares shall be subject to all applicable
terms of this Plan, which in the case of Restricted Shares granted under Section 102 of the Ordinance shall include Section ‎8 hereof,
and may be subject to any other terms that are not inconsistent with this Plan. The provisions of the various Restricted Shares Agreements
entered into under this Plan need not be identical. The Restricted Share Agreement shall comply with and be subject to Section ‎7
and the following terms and conditions, unless otherwise specifically provided in such Agreement and not inconsistent with this Plan,
or Applicable Law:

 

10.1.
Each Restricted Share Agreement shall state an amount of purchase Price to be paid by the Grantee, if any, in consideration for the issuance
of the Restricted Shares and the terms of payment thereof, which may include payment in cash or, subject to the Committee’s approval,
by issuance of promissory notes or other evidence of indebtedness on such terms and conditions as determined by the Committee.

 

10.2.
Restrictions. Restricted Shares may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, except
by will or the laws of descent and distribution (in which case they shall be transferred subject to all restrictions then or thereafter
applicable thereto), until such Restricted Shares shall have vested (the period from the date on which the Award is granted until the
date of vesting of the Restricted Share thereunder being referred to herein as the “Restricted Period”). The Committee
may also impose such additional or alternative restrictions and conditions on the Restricted Shares, as it deems appropriate, including
the satisfaction of performance criteria (which, in case of 102 Trustee Awards, may be subject to obtaining a specific tax ruling or
determination from the ITA). Such performance criteria may include, but are not limited to, sales, earnings before interest and taxes,
return on investment, earnings per share, any combination of the foregoing or rate of growth of any of the foregoing, as determined by
the Committee or pursuant to the provisions of any Company policy required under mandatory provisions of Applicable Law. Certificates
for shares issued pursuant to Restricted Share Awards, if issued, shall bear an appropriate legend referring to such restrictions, and
any attempt to dispose of any such shares in contravention of such restrictions shall be null and void and without effect. Such certificates
may, if so determined by the Committee, be held in escrow by an escrow agent appointed by the Committee, or, if a Restricted Share Award
is made pursuant to Section 102 of the Ordinance, by the Trustee. In determining the Restricted Period of an Award, the Committee may
provide that the foregoing restrictions shall lapse with respect to specified percentages of the awarded Restricted Shares on successive
anniversaries of the date of such Award. To the extent required by the Ordinance or the ITA, the Restricted Shares issued pursuant to
Section 102 of the Ordinance shall be issued to the Trustee in accordance with the provisions of the Ordinance and the Restricted Shares
shall be held for the benefit of the Grantee for at least the Required Holding Period.

 

10.3.
Forfeiture; Repurchase. Subject to such Grantee’s Restricted Share Agreement exceptions as may be determined by the Committee,
if the Grantee’s continuous employment with or service to the Company or any Affiliate thereof shall terminate for any reason prior
to the expiration of the Restricted Period of an Award or prior to the timely payment in full of the purchase price of any Restricted
Shares, any Shares remaining subject to vesting or with respect to which the purchase price has not been paid in full, shall thereupon
be forfeited, transferred to, and redeemed, repurchased or cancelled by, as the case may be, in any manner as set forth in Section ‎7.5.2(i)
through (v), subject to Applicable Laws and the Grantee shall have no further rights with respect to such Restricted Shares.

 

10.4.
Ownership. During the Restricted Period the Grantee shall possess all incidents of ownership of such Restricted Shares, subject
to Section ‎7.10 and Section ‎10.1, including the right to vote and receive dividends with respect to such Shares. All securities,
if any, received by a Grantee with respect to Restricted Shares as a result of any stock split, stock dividend, combination of shares,
or other similar transaction shall be subject to the restrictions applicable to the original Award.

 

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		11.	RESTRICTED
                                            SHARE UNITS.

 

11.1.
An RSU is an Award covering a number of Shares that is settled, if vested and (if applicable) exercised, by issuance of those Shares.
An RSU may be awarded to any eligible Grantee, including under Section 102 of the Ordinance, provided that, to the extent required by
Applicable Laws, a specific ruling is obtained from the ITA to grant RSUs as 102 Trustee Awards. The Award Agreement relating to the
grant of RSUs under this Plan (the “Restricted Share Unit Agreement”), shall be in such form as the Committee shall
from time to time approve. The RSUs shall be subject to all applicable terms of this Plan, which in the case of RSUs granted under Section
102 of the Ordinance shall include Section ‎8 hereof, and may be subject to any other terms that are not inconsistent with this Plan.
The provisions of the various Restricted Share Unit Agreements entered into under this Plan need not be identical.

 

11.2.
Purchase Price. No payment of purchase price shall be required as consideration for RSUs, unless included in the Award Agreement
or as required by Applicable Law (including, Section 304 of the Companies Law), and Section ‎7.4 shall apply, if applicable.

 

11.3.
Shareholders’ Rights. Until such time as the shares underlying RSUs are issued to the Grantee (in exchange for the agreed
upon consideration), a Grantee shall not possess or own any ownership rights in the Shares underlying the RSUs and no rights as a shareholder
shall exist prior to the actual issuance of Shares in the name of the Grantee. Upon issuance of Shares, Grantee shall have all rights
and benefits of a shareholder of the Company, pursuant to the Company’s Articles of Associations or any other shareholders agreement.

 

11.4.
Settlements of Awards. Settlement of vested RSUs shall be made in the form of Shares. Subject to Sections ‎11.5 and ‎‎23.2
hereof in the case of a Grantee that is a U.S. Taxpayer who receives an Award other than a 102 Trustee Award, the settlement of the RSUs
shall be as detailed in the Award Agreement.

 

11.5.
RSUs, Granted to U.S. Taxpayers. Notwithstanding anything to the contrary set forth herein, and as required under Section 23.2
hereof, any RSUs granted under this Plan to a U.S. Taxpayer shall contain such restrictions or other provisions so that such RSUs shall
either be exempt from, or will comply with, the requirements of Section 409A of the Code. Such provisions, if any, shall be determined
by the Committee and contained in the Restricted Share Unit Agreement evidencing such RSU. By way of example, and not limitation, dividend
equivalents may be credited or paid in respect of Shares covered by an RSU, as determined by the Committee and contained in the Restricted
Stock Unit Award Agreement and the Committee at the time of the grant of an RSU, as it deems appropriate, may impose under the Restricted
Share Unit Agreement such restrictions or conditions that delay the delivery of the Shares (and/or dividend equivalents) to a specified
time or event after the vesting of such RSUs as permitted under Section 409A of the Code. For the avoidance of doubt, in the event
that the employment or service of a Grantee shall terminate for any reason other than Cause, vested RSUs shall continue in full force
and effect until settled in accordance with this Plan and any applicable Restricted Share Unit Agreement.

 

		12.	OTHER
                                            SHARE OR SHARE-BASED AWARDS.

 

12.1.
The Committee may grant other Awards under this Plan pursuant to which Shares (which may, but need not, be Restricted Shares pursuant
to Section 11 hereof), cash (in settlement of Share-based Awards) or a combination thereof, are or may in the future be acquired or received,
or Awards denominated in stock units, including units valued on the basis of measures other than market value.

 

12.2.
The Committee may also grant stock appreciation rights without the grant of an accompanying option, which rights shall permit the Grantees
to receive, at the time of any exercise of such rights, cash equal to the amount by which the fair market value of the Shares in respect
to which the right was granted is so exercised exceeds the exercise price thereof. The exercise price of any such stock appreciation
right granted to a Grantee who is subject to U.S. federal income tax shall be determined in compliance with Section ‎‎8.2.

 

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12.3.
Such other Share-based Awards as set forth above may be granted alone, in addition to, or in tandem with any Award of any type granted
under this Plan (without any obligation or assurance that that such Share-based Awards will be entitled to tax benefits under Applicable
Law or to the same tax treatment as other Awards under this Plan).

 

		13.	EFFECT
                                            OF CERTAIN CHANGES.

 

13.1.
General. In the event of a division or subdivision of the outstanding share capital of the Company, any distribution of bonus
shares (stock split), consolidation or combination of share capital of the Company (reverse stock split), reclassification with respect
to the Shares or any similar recapitalization events (each, a “Recapitalization”), a merger (including, a reverse merger
and a reverse triangular merger), consolidation, amalgamation or like transaction of the Company with or into another corporation, a
reorganization (which may include a combination or exchange of shares, spin-off or other corporate divestiture or division, or other
similar occurrences), the Committee shall have the authority to make, without the need for a consent of any holder of an Award, such
adjustments as determined by the Committee to be appropriate, in its discretion, in order to adjust (i) the number and class of shares
reserved and available for grants of Awards, (ii) the number and class of shares covered by outstanding Awards, (iii) the purchase price
per share covered by any Award, (iv) the terms and conditions concerning vesting, and (v) any other terms of the Award that in the opinion
of the Committee should be adjusted. Any fractional shares resulting from such adjustment shall be treated as determined by the Committee,
and in the absence of such determination shall be rounded down to the nearest whole share, and the Company shall have no obligation to
make any cash or other payment with respect to such fractional shares. No adjustment shall be made by reason of the distribution of subscription
rights or rights offering to outstanding shares or other issuance of shares by the Company, unless the Committee determines otherwise.
The adjustments determined pursuant to this Section ‎13.1 (including a determination that no adjustment is to be made) shall be final,
binding and conclusive.

 

13.2.
Merger/Sale of Company. In the event of (i) a sale of all or substantially all of the assets of the Company, or a sale (including
an exchange) of all or substantially all of the shares of the Company, to any person, or a purchase by a shareholder of the Company or
by an Affiliate of such shareholder, of all the shares of the Company held by all or substantially all other shareholders or by other
shareholders who are not Affiliated with such acquiring party; (ii) a merger (including, a reverse merger and a reverse triangular merger),
consolidation, amalgamation or like transaction of the Company with or into another corporation; (iii) a scheme of arrangement for the
purpose of effecting such sale, merger, consolidation, amalgamation or other transaction; (iv) approval by the shareholders of the Company
of a complete liquidation or dissolution of the Company, or (v) such other transaction or set of circumstances that is determined by
the Board, in its discretion, to be a transaction subject to the provisions of this Section ‎13.2 excluding any of the above transactions
in clauses (i) through (v) if the Board determines that such transaction should be excluded from the definition hereof and the applicability
of this Section ‎13.2 (such transaction, a “Merger/Sale”), then, without derogating from the general authority and power
of the Board or the Committee under this Plan, without the Grantee’s consent and action and without any prior notice requirement,
the Committee may make any determination as to the treatment of Awards, in its sole and absolute discretion, as provided herein:

 

13.2.1.
Unless otherwise determined by the Committee, any Award then outstanding shall be assumed or be substituted by the Company, or by the
successor corporation in such Merger/Sale or by any parent or Affiliate thereof, as determined by the Committee in its discretion (the
“Successor Corporation”), under terms as determined by the Committee or the terms of this Plan applied by the Successor Corporation
to such assumed or substituted Awards.

 

13.3.
For the purposes of this Section ‎13.3, the Award shall be considered assumed or substituted if, following a Merger/Sale, the Award
confers on the holder thereof the right to purchase or receive, for each Share underlying an Award immediately prior to the Merger/Sale,
either (i) the consideration (whether stock, cash, or other securities or other property, or rights, or any combination thereof) distributed
to or received by holders of Shares in the Merger/Sale for each Share held on the effective date of the Merger/Sale (and if holders were
offered a choice or several types of consideration, the type of consideration as determined by the Committee), or (ii) regardless of
the consideration received by the holders of Shares in the Merger/Sale, solely shares or any type of Awards (or their equivalent) of
the Successor Corporation at a value to be determined by the Committee in its discretion, or a certain type of consideration (whether
stock, cash, or other securities or property, or any combination thereof) as determined by the Committee. Any of the above consideration
referred to in clauses (i) and (ii) shall be subject to the same vesting and expiration terms of the Awards applying immediately prior
to the Merger/Sale, unless determined by the Committee in its discretion that the consideration shall be subject to different vesting
and expiration terms, or other terms, and the Committee may determine that it be subject to other or additional terms. The foregoing
shall not limit the Committee’s authority to determine, in its sole discretion, that in lieu of such assumption or substitution
of Awards for Awards of the Successor Corporation, such Award will be substituted for any other type of asset or property, including
as set forth in Section ‎13.2 hereunder.

 

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13.3.1.
Regardless of whether or not Awards are assumed or substituted, the Committee may (but shall not be obligated to):

 

13.3.1.1.
Accelerate all unvested Awards; and/or

 

13.3.1.2.
provide for the Grantee to have the right to exercise the Award in respect of Shares covered by the Award which would otherwise be exercisable
or vested, under such terms and conditions as the Committee shall determine, and the cancellation of all unexercised Awards (whether
vested or unvested) upon or immediately prior to the closing of the Merger/Sale, unless the Committee provides for the Grantee to have
the right to exercise the Award, or otherwise for the acceleration of vesting of such Award, as to all or part of the Shares covered
by the Award which would not otherwise be exercisable or vested, under such terms and conditions as the Committee shall determine; and/or

 

13.3.1.3.
provide for the cancellation of each outstanding Award at or immediately prior to the closing of such Merger/Sale, and if and to the
extent payment shall be made to the Grantee of an amount in cash, shares or other securities of the Company, the acquiror or of a corporation
or other business entity which is a party to the Merger/Sale or other property, or rights, or any combination thereof, as determined
by the Committee to be fair in the circumstances, and subject to such terms and conditions as determined by the Committee. The Committee
shall have full authority to select the method for determining the payment (being the intrinsic (“spread”) value of the option,
Black-Scholes model or any other method). Inter alia, and without limitation of the following determination being made in other circumstances,
the Committee’s determination may provide that payment shall be set to zero if the value of the Shares is determined to be less
than any applicable purchase price, or in respect of Shares covered by the Award which would not otherwise be exercisable or vested,
or that payment may be made only in excess of the Exercise Price; and/or

 

13.3.1.4.
provide that the terms of any Award shall be otherwise amended, modified or terminated, as determined by the Committee to be fair in
the circumstances and without any liability to the Company or its Affiliates and to their respective officers, directors, employees and
representatives and the respective successors and assigns of any of the foregoing in connection with the method of treatment or chosen
course of action permitted hereunder..

 

13.3.2.
The Committee may, determine: (i) that any payments made in respect of Awards shall be made or delayed to the same extent that payment
of consideration to the holders of the Shares in connection with the Merger/Sale is made or delayed as a result of escrows, indemnification,
earn outs, holdbacks or any other contingencies or conditions; (ii) the terms and conditions applying to the payment made or payable
to the Grantees, including participation in escrow, indemnification, releases, earn-outs, holdbacks or any other contingencies; and (iii)
that any terms and conditions applying under the applicable definitive transaction agreements shall apply to the Grantees (including,
appointment and engagement of a shareholders or sellers representative, payment of fees or other costs and expenses associated with such
services, indemnifying such representative, and authorization to such representative within the scope of such representative’s
authority in the applicable definitive transaction agreements).

 

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13.3.3.
The Committee may, in its sole discretion, determine to suspend the Grantee’s rights to exercise any vested portion of an Award
for a period of time prior to the signing or consummation of a Merger/Sale transaction.

 

13.3.4.
Without limiting the generality of this Section ‎14, if the consideration in exchange for Awards in a Merger/Sale includes any securities
and due receipt thereof by any Grantee (or by the Trustee for the benefit of such Grantee) may require under applicable law (i) the registration
or qualification of such securities or of any person as a broker or dealer or agent with respect to such securities; or (ii) the provision
to any Grantee of any information under the Securities Act or any other securities laws, then the Committee may determine that the Grantee
shall be paid in lieu thereof, against surrender of the Shares or cancellation of any other Awards, an amount in cash or other property,
or rights, or any combination thereof, as determined by the Committee to be fair in the circumstances, and subject to such terms and
conditions as determined by the Committee. Nothing herein shall entitle any Grantee to receive any form of consideration that such Grantee
would be ineligible to receive as a result of such Grantee’s failure to satisfy (in the Committee’s sole determination) any
condition, requirement or limitation that is generally applicable to the Company’s shareholders, or that is otherwise applicable
under the terms of the Merger/Sale, and in such case, the Committee shall determine the type of consideration and the terms applying
to such Grantees.

 

13.3.5.
Notwithstanding anything to the contrary, in the event of a Merger/Sale, the Committee may determine, that upon consummation of such
Merger/Sale the terms of any Award shall be otherwise amended, modified or terminated, as the Committee shall deem in good faith to be
appropriate and without any liability to the Company or its Affiliates and to their respective officers, directors, employees and representatives
and the respective successors and assigns of any of the foregoing in connection with the method of treatment or chosen course of action
permitted hereunder.

 

13.3.6.
Neither the authorities and powers of the Committee under this Section 13.3.6, nor the exercise or implementation thereof, shall (i)
be restricted or limited in any way by any adverse consequences (tax or otherwise) that may result to any holder of an Award, and (ii)
as, inter alia, being a feature of the Award upon its grant, be deemed to constitute a change or an amendment of the rights of
such holder under this Plan, nor shall any such adverse consequences (as well as any adverse tax consequences that may result from any
tax ruling or other approval or determination of any relevant tax authority) be deemed to constitute a change or an amendment of the
rights of such holder under this Plan, and may be effected without consent of any Grantee and without any liability to the Company or
its Affiliates and to their respective its officers, directors, employees and representatives and the respective successors and assigns
of any of the foregoing. The Committee need not take the same action with respect to all Awards or with respect to all Service Providers.
The Committee may take different actions with respect to the vested and unvested portions of an Award. The Committee may determine an
amount or type of consideration to be received or distributed in a Merger/Sale which may differ as among the Grantees, and as between
the Grantees and any other holders of shares of the Company.

 

13.3.7.
The Committee may determine that upon a Merger/Sale any Shares held by Grantees (or for Grantee’s benefit) are sold in accordance
with instructions issued by the Committee in connection with such Merger/Sale, which shall be final, conclusive and binding on all Grantees.

 

13.3.8.
All of the Committee’s determinations pursuant to this Section ‎13 shall be at its sole and absolute discretion, and shall
be final, conclusive and binding on all Grantees (including, for clarity, as it relates to Shares issued upon vesting of any Awards or
that are Awards, unless otherwise determined by the Committee) and without any liability to the Company or its Affiliates, or to their
respective officers, directors, employees, shareholders and representatives, and the respective successors and assigns of any of the
foregoing, in connection with the method of treatment, chosen course of action or determinations made hereunder.

 

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13.3.9.
If determined by the Committee, the Grantees shall be subject to the definitive agreement(s) in connection with the Merger/Sale as applying
to holders of Shares including, such terms, conditions, representations, undertakings, liabilities, limitations, releases, indemnities,
appointing and indemnifying shareholders/sellers representative, participating in transaction expenses, shareholders/sellers representative
expense fund and escrow arrangement, in each case as determined by the Committee. Each Grantee shall execute (and authorizes any person
designated by the Company to so execute, as well as (if applicable) the Trustee holding any Shares for the Grantee’s behalf) such
separate agreement(s) or instruments as may be requested by the Company, the Successor Corporation or the acquiror in connection with
such in such Merger/Sale or otherwise under or for the purpose of implementing this Section 13.3.9, and in the form required by them.
The execution of such separate agreement(s) may be a condition to the receipt of assumed or substituted Awards, payment in lieu of the
Award, the exercise of any Award or otherwise to be entitled to benefit from shares or other securities, cash or other property, or rights,
or any combination thereof, pursuant to this Section ‎14.2 (and the Company (and, if applicable, the Trustee) may exercise its authorization
above and sign such agreement on behalf of the Grantee or subject the Grantee to the provisions of such agreements). Without limitation
of the foregoing, the proxy pursuant to Section ‎6.10 includes an authorization of the holder of such proxy to sign, by and on behalf
of any Grantee, such documents and agreements required to be signed under this Section ‎14.2.

 

13.4.
Reservation of Rights. Except as expressly provided in this Section ‎13 (if any), the Grantee of an Award hereunder shall
have no rights by reason of any Recapitalization of shares of any class, any increase or decrease in the number of shares of any class,
or any dissolution, liquidation, reorganization (which may include a combination or exchange of shares, spin-off or other corporate divestiture
or division, or other similar occurrences), Merger/Sale. Any issue by the Company of shares of any class, or securities convertible into
shares of stock of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number, type or
price of shares subject to an Award. The grant of an Award pursuant to this Plan shall not affect in any way the right or power of the
Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structures or to merge or to consolidate
or to dissolve, liquidate or sell, or transfer all or part of its business or assets or engage in any similar transactions.

 

		14.	NON-TRANSFERABILITY
                                            OF AWARDS; SURVIVING BENEFICIARY.

 

14.1.
All Awards granted under this Plan by their terms shall not be transferable other than by will or by the laws of descent and distribution,
unless otherwise determined by the Committee or under this Plan, provided that with respect to Shares issued upon grant or (if applicable)
the vesting of Awards the restrictions on transfer shall be the restrictions referred to in Section ‎15 (Conditions upon Issuance
of Shares) hereof. Subject to the above provisions, the terms of such Award, this Plan and any applicable Award Agreement shall be binding
upon the beneficiaries, executors, administrators, heirs and successors of such Grantee. Awards may be exercised or otherwise realized,
during the lifetime of the Grantee, only by the Grantee or by his guardian or legal representative, to the extent provided for herein.
Any transfer of an Award not permitted hereunder (including transfers pursuant to any decree of divorce, dissolution or separate maintenance,
any property settlement, any separation agreement or any other agreement with a spouse) and any grant of any interest in any Award to,
or creation in any way of any direct or indirect interest in any Award by, any party other than the Grantee shall be null and void and
shall not confer upon any party or person, other than the Grantee, any rights. A Grantee may file with the Committee a written designation
of a beneficiary, to whom any benefit under this Plan is to be paid, in each case, in the event of the Grantee’s death before he
or she fully receives any or all of such benefit, on such form as may be prescribed by the Committee and may, from time to time, amend
or revoke such designation. If no designated beneficiary survives the Grantee, the executor or administrator of the Grantee’s estate
shall be deemed to be the Grantee’s beneficiary. Notwithstanding the foregoing, upon the request of the Grantee and subject to
Applicable Law the Committee, at its sole discretion, may permit the Grantee to transfer the Shares subject to payment of applicable
tax to a trust whose beneficiaries are the Grantee and/or the Grantee’s immediate family members (all or several of them).

 

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14.2.
Notwithstanding any other provisions of the Plan to the contrary, no Award may be sold, transferred, pledged, assigned or otherwise alienated
or hypothecated, other than by will or by the laws of descent and distribution or in accordance with a beneficiary designation pursuant
to Section ‎14.1.

 

14.3.
As long as the Shares are held by the Trustee in favor of the Grantee, all rights possessed by the Grantee over the Shares are personal,
and may not be transferred, assigned, pledged or mortgaged, other than by will or laws of descent and distribution.

 

14.4.
If and to the extent a Grantee is entitled to transfer an Award and/or Shares underlying an Award in accordance with the terms of the
Plan and any other applicable agreements, such transfer shall be subject (in addition, to any other conditions or terms applying thereto)
to receipt by the Company from such proposed transferee of a written instrument, on a form reasonably acceptable to the Company, pursuant
to which such proposed transferee agrees to be bound by all provisions of the Plan and any other applicable agreements, including without
limitation, any restrictions on transfer of the Award and/or Shares set forth herein (however, failure to so deliver such instrument
to the Company as set forth above shall not derogate from all such provisions applying on any transferee).

 

14.5.
The provisions of this Section ‎‎14 shall apply to the Grantee and to any purchaser, assignee or transferee of any Shares.

 

		15.	CONDITIONS
                                            UPON ISSUANCE OF SHARES; GOVERNING PROVISIONS.

 

15.1.
Legal Compliance. The grant of Awards and the issuance of Shares upon grant or issuance or settlement of Awards shall be subject
to compliance with all Applicable Laws as determined by the Company, including, applicable requirements of federal, state and foreign
law with respect to such securities. The Company shall have no obligations to issue Shares pursuant to the grant or settlement of an
Award and Awards may not be granted or settled, if the issuance of Shares upon exercise or settlement would constitute a violation of
any Applicable Laws as determined by the Company, including, applicable federal, state or foreign securities laws or other law or regulations
or the requirements of any stock exchange or market system upon which the Shares may then be listed. In addition, no Award may be granted
or unless (i) a registration statement under the Securities Act or equivalent law in another jurisdiction shall at the time of such grant
or settlement of the Award be in effect with respect to the shares issuable upon exercise of the Award, or (ii) in the opinion of legal
counsel to the Company, the shares issuable upon such grant or settlement of the Award may be issued in accordance with the terms of
an applicable exemption from the registration requirements of the Securities Act or equivalent law in another jurisdiction. The inability
of the Company to obtain authority from any regulatory body having jurisdiction, if any, deemed by the Company to be necessary to the
lawful issuance and sale of any Shares hereunder, and the inability to issue Shares hereunder due to non-compliance with any Company
policies with respect to the sale of Shares, shall relieve the Company of any liability in respect of the failure to issue or sell such
Shares as to which such requisite authority or compliance shall not have been obtained or achieved. As a condition to the grant of an
Award, the Company may require the person receiving such Award to satisfy any qualifications that may be necessary or appropriate, to
evidence compliance with any Applicable Law or regulation and to make any representation or warranty with respect thereto as may be requested
by the Company, including to represent and warrant at the time of any such grant that the Shares are being purchased only for investment
and without any present intention to sell or distribute such Shares, all in form and content specified by the Company.

 

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15.2.
Provisions Governing Shares. Shares issued pursuant to an Award shall be subject to this Plan (unless otherwise determined by
the Committee), and shall be subject to the Articles of Association of the Company, any limitation, restriction or obligation included
in any shareholders agreement applicable to all or substantially all of the holders of shares (regardless of whether or not the Grantee
is a formal party to such shareholders agreement), any other governing documents of the Company, all policies, manuals and internal regulations
adopted by the Company from time to time, in each case, as may be amended from time to time, including any provisions included therein
concerning restrictions or limitations on disposition of Shares (such as, but not limited to, right of first refusal and lock up/market
stand-off) or grant of any rights with respect thereto, forced sale and bring along provisions, any provisions concerning restrictions
on the use of inside information and other provisions deemed by the Company to be appropriate in order to ensure compliance with Applicable
Laws. Each Grantee shall execute (and authorizes any person designated by the Company to so execute, as well as (if applicable) the Trustee
holding any Shears for the Grantee’s behalf) such separate agreement(s) as may be requested by the Company relating to matters
set forth in this Section ‎15.2. The execution of such separate agreement(s) may be a condition by the Company to the grant of any
Award and the Company (and, if applicable, the Trustee) may exercise its authorization above and sign such agreement on behalf of the
Grantee or subject the Grantee to the provisions of such agreements. Without limitation of the foregoing, the proxy pursuant to Section
‎6.10 includes an authorization of the holder of such proxy to sign, by and on behalf of any Grantee, such documents and agreements.

 

15.3.
Forced Sale. In the event the that Board approves a Merger/Sale effected by way of a forced or compulsory sale (whether pursuant
to the Company’s Articles of Association or pursuant to Section 341 of the Companies Law), then, without derogating from such provisions
and in addition thereto, the Grantee shall be obligated, and shall be deemed to have agreed to the offer to effect the Merger/Sale on
the terms approved by the Board (and the Shares held by or for the benefit of the Grantee shall be included in the shares of the Company
approving the terms of such Merger/Sale for the purpose of satisfying the required majority), and shall sell all of the Shares held by
or for the benefit of the Grantee on the terms and conditions applying to the holders of Shares, in accordance with the instructions
then issued by the Board, whose determination shall be final. No Grantee shall contest, bring any claims or demands, or exercise any
appraisal rights related to any of the foregoing. Each Grantee shall execute (and authorizes any person designated by the Company to
so execute, as well as (if applicable) the Trustee holding any Shares for the Grantee’s behalf) such documents and agreements,
as may be requested by the Company relating to matters set forth in or otherwise for the purpose of implementing this Section ‎16.3.
The execution of such separate agreement(s) may be a condition by the Company to the grant of any Award and the Company (and, if applicable,
the Trustee) may exercise its authorization above and sign such agreement on behalf of the Grantee or subject the Grantee to the provisions
of such agreements. Without limitation of the foregoing, the proxy pursuant to Section ‎6.10 includes an authorization of the holder
of such proxy to sign, by and on behalf of any Grantee, such documents and agreements as are required to affect the sale of Shares and
otherwise in connection with such Merger/Sale and waivers of any contest, claims, demands or any appraisal rights.

 

15.4.
Data Privacy; Data Transfer. Information related to Grantees and Awards hereunder, as shall be received from Grantee or others,
and/or held by, the Company or its Affiliates from time to time, and which information may include sensitive and personal information
related to Grantees (“Information”), will be used by the Company or its Affiliates (or third parties appointed by any of
them, including the Trustee) to comply with any applicable legal requirement, or for administration of the Plan as they deems necessary
or advisable, or for the respective business purposes of the Company or its Affiliates (including in connection with transactions related
to any of them). The Company and its Affiliates shall be entitled to transfer the Information among the Company or its Affiliates, and
to third parties for the purposes set forth above, which may include persons located abroad (including, any person administering the
Plan or providing services in respect of the Plan or in order to comply with legal requirements, or the Trustee, their respective officers,
directors, employees and representatives, and the respective successors and assigns of any of the foregoing), and any person so receiving
Information shall be entitled to transfer it for the purposes set forth above. The Company shall use commercial reasonable efforts to
ensure that the transfer of such Information shall be limited to the reasonable and necessary scope. By receiving an Award hereunder,
Grantee acknowledges and agrees that the Information is provided at Grantee’s free will and Grantee consents to the storage and
transfer of the Information as set forth above.

 

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15.5.
Share Transfer Restrictions. Any transfer or other disposition of Shares or any interest therein is subject to the prior approval
of the Board, which, if granted (without any obligation to do so), may be subject to such terms, conditions and restrictions, as it deems
appropriate. The terms, conditions and restrictions of any approval may differ from one Grantee to another, and need not be the same.
Any transfer or otherwise grant of any interest in any Shares to any third party that does not comply with this Section shall be null
and void and shall not confer upon any person, other than the Grantee, any rights. This Section shall terminate immediately after the
public offering of securities of the Company pursuant to an effective registration statement filed under the Securities Act or equivalent
law in another jurisdiction and the listing for trading on a stock exchange or market or trading system. This Section shall apply in
addition to any other limitation, restriction and/or condition in this Plan (including, without limitation, after the application of
Section ‎15), any Award Agreement, shareholders agreement, Company’s Articles of Association or other instrument between the
Grantee and the Company or by which the Grantee is bound. This Section shall not apply to a transfer of Shares in a sale of all or substantially
all of the shares of the Company which was approved by the Board or pursuant to the Company’s Articles of Association or upon a
Merger/Sale.

 

		16.	MARKET
                                            STAND-OFF

 

16.1.
In connection with any underwritten public offering of equity securities of the Company pursuant to an effective registration statement
filed under the Securities Act or equivalent law in another jurisdiction, the Grantee shall not directly or indirectly, without the prior
written consent of the Company or its underwriters, (i) lend, offer, pledge, sell, contract to sell, sell any option or contract
to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose
of, directly or indirectly, any Shares or other Awards, any securities of the Company (whether or not such Shares were acquired under
this Plan), or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Shares or securities of the
Company and any other shares or securities issued or distributed in respect thereto or in substitution thereof (collectively, “Securities”),
or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of the Securities, whether any such transaction described in clauses (i) or (ii) is to be settled by delivery of Securities,
in cash or otherwise. The foregoing provisions of this Section ‎16.1 shall not apply to the sale of any shares to an underwriter
pursuant to an underwriting agreement. Such restrictions (the “Market Stand-Off”) shall be in effect for such period of time
(the “Market Stand-Off Period”): (A) following the first public filing of the registration statement relating to the underwritten
public offering until the expiration of 180 days following the effective date of such registration statement relating to the Company’s
initial public offering or 90 days following the effective date of such registration statement relating to any other public offering,
in each case, provided, however, that if (1) during the last 17 days of the initial Market Stand-Off Period, the Company releases earnings
results or announces material news or a material event or (2) prior to the expiration of the initial Market Stand-Off Period, the Company
announces that it will release earnings results during the 15-day period following the last day of the initial Market Stand-Off Period,
then in each case the Market Stand-Off Period will be automatically extended until the expiration of the 18-day period beginning on the
date of release of the earnings results or the announcement of the material news or material event; or (B) such other period as shall
be requested by the Company or the underwriters. Notwithstanding anything herein to the contrary, if the underwriter(s) and the Company
agree on a termination date of the Market Stand-Off Period in the event of failure to consummate a certain public offering, then such
termination shall apply also to the Market Stand-Off Period hereunder with respect to that particular public offering.

 

16.2.
In the event of a subdivision of the outstanding share capital of the Company, the distribution of any securities (whether or not of
the Company), whether as bonus shares or otherwise, and whether as dividend or otherwise, a recapitalization, a reorganization (which
may include a combination or exchange of shares or a similar transaction affecting the Company’s outstanding securities without
receipt of consideration), a consolidation, a spin-off or other corporate divestiture or division, a reclassification or other similar
occurrence, any new, substituted or additional securities which are by reason of such transaction distributed with respect to any Shares
subject to the Market Stand-Off, or into which such Shares thereby become convertible, shall immediately be subject to the Market Stand-Off.

 

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16.3.
In order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect to the Shares acquired under
this Plan until the end of the applicable Market Stand-Off period.

 

16.4.
The underwriters in connection with a registration statement so filed are intended third party beneficiaries of this Section ‎16.4and
shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Each Grantee shall execute
such separate agreement(s) as may be requested by the Company or the underwriters in connection with such registration statement and
in the form required by them, relating to Market Stand-Off (which need not be identical to the provisions of this Section ‎16, and
may include such additional provisions and restrictions as the underwriters deem advisable) or that are necessary to give further effect
thereto. The execution of such separate agreement(s) may be a condition by the Company to the grant of any Award.

 

16.5.
Without derogating from the above provisions of this Section ‎16 or elsewhere in this Plan, the provisions of this Section ‎16
shall apply to the Grantee and the Grantee’s heirs, legal representatives, successors, assigns, and to any purchaser, assignee
or transferee of any Awards or Shares.

 

		17.	AGREEMENT
                                            REGARDING TAXES; DISCLAIMER.

 

If
the Committee shall so require, as a condition of grant of an Award, the release of Shares by the Trustee or the expiration of the Restricted
Period, a Grantee shall agree that, no later than the date of such occurrence, the Grantee will pay to the Company (or the Trustee, as
applicable) or make arrangements satisfactory to the Committee and the Trustee (if applicable) regarding payment of any applicable taxes
and compulsory payments of any kind required by Applicable Law to be withheld or paid.

 

17.1.
TAX LIABILITY. ALL TAX CONSEQUENCES UNDER ANY APPLICABLE LAW WHICH MAY ARISE FROM THE GRANT OF ANY AWARDS OR THE SETTLEMENT THEREOF,
THE SALE OR DISPOSITION OF ANY SHARES GRANTED HEREUNDER OR ISSUED UPON SETTLEMENT OR (IF APPLICABLE) THE VESTING OF ANY AWARD, THE ASSUMPTION,
SUBSTITUTION, CANCELLATION OR PAYMENT IN LIEU OF AWARDS OR FROM ANY OTHER ACTION IN CONNECTION WITH THE FOREGOING (INCLUDING WITHOUT
LIMITATION ANY TAXES AND COMPULSORY PAYMENTS, SUCH AS SOCIAL SECURITY OR HEALTH TAX PAYABLE BY THE GRANTEE OR THE COMPANY IN CONNECTION
THEREWITH) SHALL BE BORNE AND PAID SOLELY BY THE GRANTEE, AND THE GRANTEE SHALL INDEMNIFY THE COMPANY, ITS SUBSIDIARIES AND AFFILIATES
AND THE TRUSTEE, AND SHALL HOLD THEM HARMLESS AGAINST AND FROM ANY LIABILITY FOR ANY SUCH TAX OR PAYMENT OR ANY PENALTY, INTEREST OR
INDEXATION THEREON. EACH GRANTEE AGREES TO, AND UNDERTAKES TO COMPLY WITH, ANY RULING, SETTLEMENT, CLOSING AGREEMENT OR OTHER SIMILAR
AGREEMENT OR ARRANGEMENT WITH ANY TAX AUTHORITY IN CONNECTION WITH THE FOREGOING WHICH IS APPROVED BY THE COMPANY.

 

17.2.
NO TAX ADVICE. THE GRANTEE IS ADVISED TO CONSULT WITH A TAX ADVISOR WITH RESPECT TO THE TAX CONSEQUENCES OF RECEIVING, SELLING
OR DISPOSING OF AWARDS HEREUNDER. THE COMPANY DOES NOT ASSUME ANY RESPONSIBILITY TO ADVISE THE GRANTEE ON SUCH MATTERS, WHICH SHALL REMAIN
SOLELY THE RESPONSIBILITY OF THE GRANTEE.

 

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17.3.
TAX TREATMENT. THE COMPANY AND ITS AFFILIATES DO NOT UNDERTAKE OR ASSUME ANY LIABILITY OR RESPONSIBILITY TO THE EFFECT THAT ANY
AWARD SHALL QUALIFY WITH ANY PARTICULAR TAX REGIME OR RULES APPLYING TO PARTICULAR TAX TREATMENT, OR BENEFIT FROM ANY PARTICULAR TAX
TREATMENT OR TAX ADVANTAGE OF ANY TYPE AND THE COMPANY AND ITS AFFILIATES SHALL BEAR NO LIABILITY IN CONNECTION WITH THE MANNER IN WHICH
ANY AWARD IS EVENTUALLY TREATED FOR TAX PURPOSES, REGARDLESS OF WHETHER THE AWARD WAS GRANTED OR WAS INTENDED TO QUALIFY UNDER ANY PARTICULAR
TAX REGIME OR TREATMENT. THIS PROVISION SHALL SUPERSEDE ANY TYPE OF AWARDS OR TAX QUALIFICATION INDICATED IN ANY CORPORATE RESOLUTION
OR AWARD AGREEMENT, WHICH SHALL AT ALL TIMES BE SUBJECT TO THE REQUIREMENTS OF APPLICABLE LAW. THE COMPANY AND ITS AFFILIATES DO NOT
UNDERTAKE AND SHALL NOT BE REQUIRED TO TAKE ANY ACTION IN ORDER TO QUALIFY ANY AWARD WITH THE REQUIREMENT OF ANY PARTICULAR TAX TREATMENT
AND NO INDICATION IN ANY DOCUMENT TO THE EFFECT THAT ANY AWARD IS INTENDED TO QUALIFY FOR ANY TAX TREATMENT SHALL IMPLY SUCH AN UNDERTAKING.
THE COMPANY AND ITS AFFILIATES DO NOT UNDERTAKE TO REPORT FOR TAX PURPOSES ANY AWARD IN ANY PARTICULAR MANNER, INCLUDING IN ANY MANNER
CONSISTENT WITH ANY PARTICULAR TAX TREATMENT. NO ASSURANCE IS MADE BY THE COMPANY OR ANY OF ITS AFFILIATES THAT ANY PARTICULAR TAX TREATMENT
ON THE DATE OF GRANT WILL CONTINUE TO EXIST OR THAT THE AWARD WOULD QUALIFY AT THE TIME OF SETTELEMENT OR DISPOSITION THEREOF WITH ANY
PARTICULAR TAX TREATMENT. THE COMPANY AND ITS AFFILIATES SHALL NOT HAVE ANY LIABILITY OR OBLIGATION OF ANY NATURE IN THE EVENT THAT AN
AWARD DOES NOT QUALIFY FOR ANY PARTICULAR TAX TREATMENT, REGARDLESS WHETHER THE COMPANY COULD HAVE OR SHOULD HAVE TAKEN ANY ACTION TO
CAUSE SUCH QUALIFICATION TO BE MET AND SUCH QUALIFICATION REMAINS AT ALL TIMES AND UNDER ALL CIRCUMSTANCES AT THE RISK OF THE GRANTEE.
THE COMPANY DOES NOT UNDERTAKE OR ASSUME ANY LIABILITY TO CONTEST A DETERMINATION OR INTERPRETATION (WHETHER WRITTEN OR UNWRITTEN) OF
ANY TAX AUTHORITIES, INCLUDING IN RESPECT OF THE QUALIFICATION UNDER ANY PARTICULAR TAX REGIME OR RULES APPLYING TO PARTICULAR TAX TREATMENT.
IF THE AWARDS DO NOT QUALIFY UNDER ANY PARTICULAR TAX TREATMENT IT COULD RESULT IN ADVERSE TAX CONSEQUENCES TO THE GRANTEE.

 

17.4.
The Company or any Subsidiary or Affiliate may take such action as it may deem necessary or appropriate, in its discretion, for the purpose
of or in connection with withholding of any taxes and compulsory payments which the Trustee, the Company or any Subsidiary or Affiliate
is required by any Applicable Law to withhold in connection with any Awards (collectively, “Withholding Obligations”).
Such actions may include (i) requiring a Grantees to remit to the Company in cash an amount sufficient to satisfy such Withholding Obligations
and any other taxes and compulsory payments, payable by the Company in connection with the Award or the settlement or (if applicable)
the vesting thereof; (ii) subject to Applicable Law, allowing the Grantees to provide Shares to the Company, in an amount that at such
time, reflects a value that the Committee determines to be sufficient to satisfy such Withholding Obligations; (iii) withholding Shares
otherwise issuable upon the settlement of an Award at a value which is determined by the Committee to be sufficient to satisfy such Withholding
Obligations; or (iv) any combination of the foregoing. The Company shall not be obligated to allow the issuance of any Award by or on
behalf of a Grantee or allow the issuance of any Shares, until all tax consequences arising from the issuance of such Award are resolved
in a manner acceptable to the Company

 

17.5.
Each Grantee shall notify the Company in writing promptly and in any event within ten (10) days after the date on which such Grantee
first obtains knowledge of any tax bureau inquiry, audit, assertion, determination, investigation, or question relating in any manner
to the Awards granted or received hereunder or Shares issued thereunder and shall continuously inform the Company of any developments,
proceedings, discussions and negotiations relating to such matter, and shall allow the Company and its representatives to participate
in any proceedings and discussions concerning such matters. Upon request, a Grantee shall provide to the Company any information or document
relating to any matter described in the preceding sentence, which the Company, in its discretion, requires.

 

17.6.
With respect to 102 Non-Trustee Award, if the Grantee ceases to be employed by the Company or any Affiliate, the Grantee shall extend
to the Company and/or its Affiliate with whom the Grantee is employed a security or guarantee for the payment of taxes due at the time
of sale of Shares, all in accordance with the provisions of Section 102 of the Ordinance and the Rules.

 

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17.7.
If a Grantee makes an election under Section 83(b) of the Code to be taxed with respect to an Award as of the date of transfer of Shares
rather than as of the date or dates upon which the Grantee would otherwise be taxable under Section 83(a) of the Code, such Grantee shall
deliver a copy of such election to the Company upon or prior to the filing such election with the U.S. Internal Revenue Service. Neither
the Company nor any Affiliate shall have any liability or responsibility relating to or arising out of the filing or not filing of any
such election or any defects in its construction.

 

		18.	RIGHTS
                                            AS A SHAREHOLDER; VOTING AND DIVIDENDS.

 

18.1.
Subject to Sections ‎10.3 and ‎11.5, a Grantee shall have no rights as a shareholder of the Company with respect to any Shares
covered by an Award until the Grantee becomes the record holder of the subject Shares. In the case of 102 Awards or 3(9) Awards (if such
Awards are being held by a Trustee), the Trustee shall have no rights as a shareholder of the Company with respect to the Shares covered
by such Award until the Trustee becomes the record holder for such Shares for the Grantee’s benefit, and the Grantee shall not
be deemed to be a shareholder and shall have no rights as a shareholder of the Company with respect to the Shares covered by the Award
until the date of the release of such Shares from the Trustee to the Grantee and the transfer of record ownership of such Shares to the
Grantee (provided however that the Grantee shall be entitled to receive from the Trustee any cash dividend or distribution made on account
of the Shares held by the Trustee for such Grantee’s benefit, subject to any tax withholding and compulsory payment). No adjustment
shall be made for dividends (ordinary or extraordinary, whether in shares or other securities, cash or other property, or rights, or
any combination thereof) or distribution of other rights for which the record date is prior to the date on which the Grantee or Trustee
(as applicable) becomes the record holder of the Shares covered by an Award, except as provided in Section 14 hereof.

 

18.2.
With respect to all Awards issued in the form of Shares hereunder or upon the grant or (if applicable) the vesting of Awards hereunder,
any and all voting rights attached to such Shares shall be subject to Section ‎7.8, and the Grantee shall be entitled to receive
dividends distributed with respect to such Shares, subject to the provisions of the Company’s Articles of Association, as amended
from time to time, and subject to any Applicable Law.

 

18.3.
The Company may, but shall not be obligated to, register or qualify the sale of Shares under any applicable securities law or any other
Applicable Law.

 

		19.	NO
                                            REPRESENTATION BY COMPANY.

 

By
granting the Awards, the Company is not, and shall not be deemed as, making any representation or warranties to the Grantee regarding
the Company, its business affairs, its prospects or the future value of its Shares and such representations and warranties are hereby
disclaimed. The Company shall not be required to provide to any Grantee any information, documents or material in connection with the
Grantee’s considering an grant of an Award. To the extent that any information, documents or materials are provided, the Company
shall have no liability with respect thereto. Any decision by a Grantee to grant an Award shall solely be at the risk of the Grantee.

 

		20.	NO
                                            RETENTION RIGHTS.

 

Nothing
in this Plan, any Award Agreement or in any Award granted or agreement entered into pursuant hereto shall confer upon any Grantee the
right to continue in the employ of, or be in the service of the Company or any Subsidiary or Affiliate thereof as a Service Provider
or to be entitled to any remuneration or benefits not set forth in this Plan or such agreement, or to interfere with or limit in any
way the right of the Company or any such Subsidiary or Affiliate to terminate such Grantee’s employment or service (including,
any right of the Company or any of its Affiliates to immediately cease the Grantee’s employment or service or to shorten all or
part of the notice period, regardless of whether notice of termination was given by the Company or its Affiliates or by the Grantee).
Awards granted under this Plan shall not be affected by any change in duties or position of a Grantee, subject to Sections ‎ 7.5
through ‎7.7. No Grantee shall be entitled to claim and the Grantee hereby waives any claim against the Company or any Subsidiary
or Affiliate that he or she was prevented from continuing to vest Awards as of the date of termination of his or her employment with,
or services to, the Company or any Subsidiary or Affiliate. No Grantee shall be entitled to any compensation in respect of the Awards
which would have vested had such Grantee’s employment or engagement with the Company (or any Subsidiary or Affiliate) not been
terminated.

 

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		21.	PERIOD
                                            DURING WHICH AWARDS MAY BE GRANTED.

 

Awards
may be granted pursuant to this Plan from time to time within a period of ten (10) years from the Effective Date, which period may be
extended from time to time by the Board. From and after such date (as extended) no grants of Awards may be made and this Plan shall continue
to be in full force and effect with respect to Awards or Shares issued thereunder that remain outstanding.

 

		22.	AMENDMENT
                                            OF THIS PLAN AND AWARDS.

 

22.1.
The Board at any time and from time to time may suspend, terminate, modify or amend this Plan, whether retroactively or prospectively.
Any amendment effected in accordance with this Section shall be binding upon all Grantees and all Awards, whether granted prior to or
after the date of such amendment, and without the need to obtain the consent of any Grantee. No termination or amendment of this Plan
shall affect any then outstanding Award unless such amendment does not adversely affect the rights of Grantees under this Plan.

 

22.2.
The Board or the Committee at any time and from time to time may modify or amend any Award theretofore granted, including any Award Agreement,
whether retroactively or prospectively.

 

		23.	APPROVAL.

 

23.1.
This Plan shall take effect upon its adoption by the Board (the “Effective Date”).

 

23.2.
102 Awards are conditional upon the filing with or approval by the ITA, if required, as set forth in Section ‎8.4‎. Failure to
so file or obtain such approval shall not in any way derogate from the valid and binding effect of any grant of an Award, which is not
a 102 Award.

 

		24.	RULES
                                            PARTICULAR TO SPECIFIC COUNTRIES; SECTION 409A.

 

24.1.
Notwithstanding anything herein to the contrary, the terms and conditions of this Plan may be supplemented or amended with respect to
a particular country or tax regime by means of an appendix to this Plan, and to the extent that the terms and conditions set forth in
any appendix conflict with any provisions of this Plan, the provisions of such appendix shall govern. Terms and conditions set forth
in such appendix shall apply only to Awards granted to Grantees under the jurisdiction of the specific country or such other tax regime
that is the subject of such appendix and shall not apply to Awards issued to a Grantee not under the jurisdiction of such country or
such other tax regime. The adoption of any such appendix shall be subject to the approval of the Board or the Committee, and if determined
by the Committee to be required in connection with the application of certain tax treatment, pursuant to applicable stock exchange rules
or regulations or otherwise, then also the approval of the shareholders of the Company at the required majority.

 

24.2.
This Section ‎24.2 shall only apply to Awards granted to Grantees who are subject to United States Federal income tax.

 

24.3.
It is the intention of the Company that no Award shall be deferred compensation subject to Code Section 409A unless and to the extent
that the Committee specifically determines otherwise as provided in Section ‎24.4, and the Plan and the terms and conditions of all
Awards shall be interpreted and administered accordingly.

 

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24.4.
The terms and conditions governing any Awards that the Committee determines will be subject to Section 409A of the Code, including any
rules for payment or elective or mandatory deferral of the payment or delivery of Shares or cash pursuant thereto, and any rules regarding
treatment of such Awards in the event of a change in control, shall be set forth in the applicable Award Agreement and shall be intended
to comply in all respects with Section 409A of the Code, and the Plan and the terms and conditions of such Awards shall be interpreted
and administered accordingly.

 

24.5.
The Company shall have complete discretion to interpret and construe the Plan and any Award Agreement in any manner that establishes
an exemption from (or compliance with) the requirements of Code Section 409A.  If for any reason, such as imprecision in drafting,
any provision of the Plan and/or any Award Agreement does not accurately reflect its intended establishment of an exemption from (or
compliance with) Code Section 409A, as demonstrated by consistent interpretations or other evidence of intent, such provision shall
be considered ambiguous as to its exemption from (or compliance with) Code Section 409A and shall be interpreted by the Company
in a manner consistent with such intent, as determined in the discretion of the Company. If, notwithstanding the foregoing
provisions of this Section ‎24.5, any provision of the Plan or any such agreement would cause a Grantee to incur any additional tax
or interest under Code Section 409A, the Company shall reform such provision in a manner intended to avoid the incurrence by such Grantee
of any such additional tax or interest; provided that the Company shall maintain, to the extent reasonably practicable, the original
intent and economic benefit to the Grantee of the applicable provision without violating the provisions of Section 409A of the Code.
For the avoidance of doubt, no provision of this Plan shall be interpreted or construed to transfer any liability for failure to comply
with the requirements of Section 409A from any Grantee or any other individual to the Company or any of its affiliates, employees or
agents.

 

24.6.
Notwithstanding any other provision in the Plan, any Award Agreement, or any other written document establishing the terms and conditions
of an Award, if any Grantee is a “specified employee,” within the meaning of Section 409A of the Code, as of the date of
his or her “separation from service” (as defined under Section 409A of the Code), then, to the extent required by Treasury
Regulation Section 1.409A-3(i)(2) (or any successor provision), any payment made to such Grantee on account of his or her separation
from service shall not be made before a date that is six months after the date of his or her separation from service. The Committee may
elect any of the methods of applying this rule that are permitted under Treasury Regulation Section 1.409A-3(i)(2)(ii) (or any successor
provision).

 

24.7.
Notwithstanding any other provision of this Section ‎‎24.7 to the contrary, although the Company intends to administer the Plan
so that Awards will be exempt from, or will comply with, the requirements of Code Section 409A, the Company does not warrant that any
Award under the Plan will qualify for favorable tax treatment under Code Section 409A or any other provision of federal, state, local,
or non-United States law. The Company shall not be liable to any Grantee for any tax, interest, or penalties the Grantee might owe as
a result of the grant, holding, vesting, exercise, or payment of any Award under the Plan.

 

		25.	GOVERNING
                                            LAW; JURISDICTION.

 

This
Plan and all determinations made and actions taken pursuant hereto shall be governed by the laws of the State of Israel, except with
respect to matters that are subject to tax laws, regulations and rules of any specific jurisdiction, which shall be governed by the respective
laws, regulations and rules of such jurisdiction. Certain definitions, which refer to laws other than the laws of such jurisdiction,
shall be construed in accordance with such other laws. The competent courts located in Tel-Aviv-Jaffa, Israel shall have exclusive jurisdiction
over any dispute arising out of or in connection with this Plan and any Award granted hereunder. By signing any Award Agreement or any
other agreement relating to an Award, each Grantee irrevocably submits to such exclusive jurisdiction.

 

		26.	NON-EXCLUSIVITY
                                            OF THIS PLAN.

 

The
adoption of this Plan shall not be construed as creating any limitations on the power or authority of the Company to adopt such other
or additional incentive or other compensation arrangements of whatever nature as the Company may deem necessary or desirable or preclude
or limit the continuation of any other plan, practice or arrangement for the payment of compensation or fringe benefits to employees
generally, or to any class or group of employees, which the Company or any Affiliate now has lawfully put into effect, including any
retirement, pension, savings and stock purchase plan, insurance, death and disability benefits and executive short-term or long-term
incentive plans.

 

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		27.	MISCELLANEOUS.

 

27.1.
Survival. The Grantee shall be bound by and the Shares issued upon grant or (if applicable) the vesting of any Awards granted
hereunder shall remain subject to this Plan after the grant or (if applicable) the vesting of Awards, in accordance with the terms of
this Plan, whether or not the Grantee is then or at any time thereafter employed or engaged by the Company or any of its Affiliates.

 

27.2.
Additional Terms. Each Award awarded under this Plan may contain such other terms and conditions not inconsistent with this Plan
as may be determined by the Committee, in its sole discretion.

 

27.3.
Fractional Shares. No fractional Share shall be issuable upon grant or vesting of any Award and the number of Shares to be issued
shall be rounded down to the nearest whole Share, with any Share remaining at the last vesting date due to such rounding to be issued
upon grant at such last vesting date.

 

27.4.
Severability. If any provision of this Plan, any Award Agreement or any other agreement entered into in connection with an Award
shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and thereof
shall be severable and enforceable in accordance with their terms, and all provisions shall remain enforceable in any other jurisdiction.
In addition, if any particular provision contained in this Plan, any Award Agreement or any other agreement entered into in connection
with an Award shall for any reason be held to be excessively broad as to duration, geographic scope, activity or subject, it shall be
construed by limiting and reducing such provision as to such characteristic so that the provision is enforceable to fullest extent compatible
with Applicable Law as it shall then appear.

 

27.5.
Captions and Titles. The use of captions and titles in this Plan or any Award Agreement or any other agreement entered into in
connection with an Award is for the convenience of reference only and shall not affect the meaning or interpretation of any provision
of this Plan or such agreement.

 

*     *     *

 

 

28

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