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EXHIBIT 10.3

			
	NON-COMPETITION AGREEMENT

This Non-Competition Agreement ( “Agreement”) is between Steven C. Cooper (“Employee”) and TrueBlue, Inc. or a TrueBlue, Inc. subsidiary, affiliate, related business entity, successor, or assign (collectively “TrueBlue” or “Company”) and is effective as of July 8, 2022. 

In consideration of TrueBlue, Inc., or the TrueBlue, Inc. subsidiary, affiliate, related business entity, successor, or assign (collectively TrueBlue, Inc. and all of its present and future subsidiaries, affiliates, related business entities, success and assigns are referred to herein as “TrueBlue” or “Company”) employing me, compensating me, providing me with benefits, providing me with administrative support, providing me with the benefit of Company’s research, know-how, market strategies and business plans, and other confidential information, and specifically in consideration of the additional consideration provided in the Employment Agreement executed on or about the date set forth below, the adequacy, sufficiency and receipt of which is hereby acknowledged, and intending to be legally bound, Employee hereby acknowledges that he/she understands and agrees that the provisions hereof are part of and a condition of Employee’s employment with Company, and are effective as of the date set forth above.  I also understand that I may be required to execute additional non-competition agreement(s) relating to the Company’s business outside of the United States, and that any such agreement(s) will be supplemental to, and not replace, this Agreement.

I.  NON-COMPETITION, NON-INTERFERENCE, NON-SOLICITATION, AND CONFIDENTIALITY
    A.  Definitions.
1.“Business Area” means any state, county or city in the United States and any foreign country, state or province in which, during the period of Employee’s employment with Company, Company conducts or is seriously evaluating whether to conduct business, including expansion of its business lines or services domestically or internationally.  Employee acknowledges that as a member of the Company’s senior leadership team, Employee’s services are integral to conducting business and expanding business domestically and internationally.  
2. “Candidate” means, any individual who has applied for and/or accepted placement in a job by Company with a Client, and (i) about whom Employee obtained information, or (ii) with whom Employee interacted on behalf of Company.
3.“Client” means, any individual, business or other entity to which Company provided any services, prior to Employee’s last date of employment with Company.
4.“Colleague” means any Company employee who has been employed by Company during the six months prior to the termination of Employee’s employment with Company. 
5.“Confidential Information” means, whether original, duplicated, computerized, memorized, handwritten, or in any other form, and all information contained therein, including, without limitation: (a) the ideas, methods, techniques, formats, specifications, procedures, designs, strategies, systems, processes, data and software products which are unique to Company; (b) all of Company’s business plans, present, future or potential customers or clients (including the names, addresses and any other information concerning any customer or client), marketing, marketing strategies, pricing and financial information, research, training, know-how, operations, processes, products, inventions, business practices, databases and information contained therein, its wage rates, margins, mark-ups, finances, banking, books, records, contracts, agreements, principals, vendors, suppliers, contractors, employees, applicants, Candidates, skill sets of applicants, skill sets of Candidates, marketing methods, costs, prices, price structures, methods for calculating and/or determining prices, contractual relationships, business relationships, compensation paid to employees and/or contractors, and/or other terms of employment, employee evaluations, and/or employee skill sets; (c) the content of all of Company’s operations, sales 
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and training manuals; (d) all other information now in existence or later developed which is similar to the foregoing; (e) all information which is marked as confidential or explained to be confidential or which, by its nature, is confidential or otherwise constitutes the intellectual property or proprietary information of Company; and/or (f) any of Company’s “trade secrets,” as defined by applicable law.  For the purposes of this Section, all references to, and agreements regarding, Confidential Information or Confidential Information of Company also apply to Confidential Information belonging to any affiliate of Company, and to any confidential or proprietary information of third party clients that Company has an obligation to keep confidential.  Employee’s covenants in this Section shall protect affiliates and clients of Company to the same extent that they protect Company. Confidential Information shall not include any portion of the foregoing which (i) is or becomes generally available to the public in any manner or form through no fault of Employee, or (ii) is approved for Employee’s disclosure or use by the express written consent of the Chief Legal Officer of Company. 
6. “Conflicting Organization” means, any person, entity or organization engaged (or about to become engaged) in a business similar to, or that competes with, the business of Company, including without limitation any person or organization that provides any product, process or service that is similar to or competes with any product, process or service provided by Company during Employee’s employment with Company.  The term “Conflicting Organization” specifically includes without limitation any person, entity or organization that provides temporary and/or permanent staffing services, outsourced human capital services focused on recruitment (RPO), workforce management, managed service providers (MSP), a technology provider that provides temporary staffing through electronic means, or applicant process outsourcing.  
    B.  Confidentiality, Non-Disclosure and Non-Use Obligations.  

    1.    Employee agrees that all records and Confidential Information obtained by Employee as a result of Employee’s employment with Company, whether original, duplicated, computerized, memorized, handwritten, or in any other form, and all information contained therein, are confidential and the sole and exclusive property of Company.  Employee understands and agrees that the business of Company and the nature of Employee’s employment will require Employee to have access to Confidential Information of and about Company, its business, its Candidates, and its Clients.  During Employee’s employment and thereafter, Employee will not use Confidential Information or remove any such records from the offices of Company except for the sole purpose of conducting business on behalf of Company.  Employee further agrees that during Employee’s employment and thereafter, Employee will not divulge or disclose this Confidential Information to any third party and under no circumstances will Employee reveal or permit this information to become known by any Conflicting Organization.

    2.     Employee agrees and acknowledges that all Confidential Information is to be held in confidence and is the sole and exclusive property of Company and/or its affiliates or clients.  Employee recognizes the importance of protecting the confidentiality and secrecy of Confidential Information.  Employee agrees to use Employee’s best efforts to protect Confidential Information from unauthorized disclosure to others.  Employee understands that protecting Confidential Information from unauthorized disclosure is critically important to Company’s success and competitive advantage, and that the unauthorized use or disclosure of Confidential Information would greatly damage Company.  Employee recognizes and agrees that taking and using Confidential Information, including trade secrets, by memory is no different from taking it on paper or in some other tangible form, and that all of such conduct is prohibited.  Employee agrees that, prior to use or disclosure, Employee will request clarification from Company’s legal department if Employee is at all uncertain as to whether any information or materials are “Confidential Information.” 

    3.    During Employee’s employment and in perpetuity after the termination of Employee’s employment for any or no cause or reason, Employee agrees:  (a) not to use any Confidential Information for the benefit of any person (including, without limitation, Employee’s benefit) or entity other than Company; and (b) not to, except as necessary or appropriate for Employee to perform Employee’s job responsibilities, disclose any Confidential Information to others, or remove any such records from the offices of Company except for the sole purpose of conducting business on behalf of Company.  If at any 
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time Employee ever believes that any person has received or disclosed or intends to receive or disclose Confidential Information without Company’s consent, Employee agrees to immediately notify Company.

    4.    At any time during Employee’s employment upon Company’s request, and at the end of Employee’s employment with Company, even without Company’s request, Employee covenants, agrees to, and shall immediately return to Company, at its headquarters or other location designated by Company, all Confidential Information as defined herein, and all other material and records of any kind concerning Company’s business, and all other property of Company that Employee may possess or control (including (including, without limitation, such Confidential Information or Company property contained on Employee’s personal computers, laptops, iPads, tablets, cell phones, e-mail, cloud-based storage, or other electronic storage devices).  

    5.    At all times, Employee agrees not to directly or indirectly take, possess, download, allow others to take or possess or download, provide to others, delete or destroy or allow others to delete or destroy, any of Company’s Confidential Information or other property, other than in the normal course of business.

    6.    Employee agrees that these covenants are necessary to protect Company’s Confidential Information, and Company’s legitimate business interests (including, without limitation, the confidentiality of Company’s business information and other legitimate interests), in view of Employee’s key role with each branch of Company and its affiliates and the extent of confidential and proprietary information about the entire Company and its affiliates and clients to which Employee has information.  Company and Employee agree that the provisions of this Section do not impose an undue hardship on Employee and are not injurious to the public; that they are necessary to protect the business of Company and its affiliates and clients; that the nature of Employee’s responsibilities with Company under this Agreement and Employee’s former responsibilities with Company provide and/or have provided Employee with access to Confidential Information that is valuable and confidential to Company; that Company would not employ or continue to employ Employee if Employee did not agree to the provisions of this Section; that this Section is reasonable in its terms and that consideration supports this Section, including new consideration as set forth in the Employee Employment Agreement. 

7.    Employee agrees to notify Company (Human Resources) if he becomes aware that others are using, wrongfully disclosing, downloading, making copies of, taking, possessing, downloading, deleting or destroying Confidential Information.  

8    The misappropriation of trade secrets (a form of intellectual property) is a violation of law, like the theft of any property.  In addition to state law remedies, the Defend Trade Secrets Act of 2016 (the “DTSA”) enables a trade secret owner to bring a trade secret misappropriation case in federal court.  Notwithstanding any other provision of this Agreement to the contrary, pursuant to the DTSA, Employee understands that Employee will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made (i) in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law, or (ii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  In addition, Employee understands that the DTSA generally permits an individual to disclose trade secrets to the individual’s attorney in the course of pursuing a lawsuit where the individual alleges retaliation for reporting a suspected violation of the law (or uses the trade secret information in such lawsuit, if the individual files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order).  The DTSA does not, however, preclude the trade secret owner from seeking breach of contract remedies. Employee understands the foregoing is a very generalized summary of the immunity provisions of the DTSA intended to satisfy the notification requirements of the DTSA and that Employee has been advised to seek legal counsel before disclosing any trade secrets if Employee intends to seek immunity under the DTSA.

C.  Duty of Loyalty.  

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1.     Employee agrees that at all times during Employee’s employment with Company; Employee owes Company a duty of loyalty and a duty to act in good faith.  Employee agrees that during Employee’s employment, Employee will not individually, or in combination with any other employee, individual, or Conflicting Organization, violate or breach the terms of this Agreement.

    2.    Employee agrees to devote all time that is reasonably necessary to execute and complete Employee’s duties to Company.  During the time necessary to execute Employee’s duties, Employee agrees to devote Employee’s full and undivided time, energy, knowledge, skill and ability to Company’s business, to the exclusion of all other business and sideline interests.  Because of the agreement in the preceding sentence, during Employee’s employment with Company, Employee also agrees not to be employed or provide any type of services, whether as an advisor, consultant, independent contractor or otherwise in any capacity elsewhere unless first authorized, in writing, by a proper representative of Company.  Notwithstanding the foregoing, nothing in this Agreement shall be deemed to prohibit Executive from serving on corporate, industry, civic or charitable boards or committees, or authoring articles/books, so long as such activities do not interfere in any respect with the performance of Executive’s responsibilities as an employee of the Company in accordance with this Agreement. In no event will Employee allow other activities to conflict or interfere with Employee’s duties to Company.  Employee agrees to faithfully and diligently perform all duties to the best of Employee’s ability.  Employee recognizes that the services to be rendered under this Agreement require certain training, skills and experience, and that this Agreement is entered into for the purpose of obtaining such service for Company.  Upon request, Employee agrees to provide Company with any information which Employee possesses relating to Company business and which will be of benefit to Company.  Employee agrees to perform Employee’s duties in a careful, safe, loyal and prudent manner.  Employee agrees to conduct himself in a way which will be a credit to Company’s reputation and interests, and to otherwise fulfill all fiduciary and other duties Employee has to Company.

    D.  Return of Information, Records, and Materials.  

1.Employee agrees that upon the termination of Employee’s employment with Company or at the request of Company at any time, Employee will immediately deliver to Company all Company property, including without limitation all information, records, materials, and copies thereof in any form whatsoever, that are related in any way to Company or its business, or which are otherwise referred to in Sections I.A.5 and I.B. above.
2.Employee acknowledges and agrees that unless otherwise expressly prohibited by law, Company has the complete right to review, inspect and monitor all Company property, including, without limitation, data sent over Company networks, email, voicemail, instant messages, and computer property of Company, and to review, inspect and monitor Employee’s use of the internet, Company networks, or other electronic-related transmission of information, including, without limitation, the identity and use of USB and other electronic-related drives.  Employee acknowledges that Employee has no expectation of privacy in Company’s property, including, without limitation, email, instant messages, voicemail, electronic devices, and computer property.
    E.   Non-Competition Covenant.  

    1.      Employee agrees that during Employee’s employment with Company and for a period of twelve (12) months following the termination of Employee’s employment for any reason, Employee shall not, directly or indirectly, in any Business Area, engage in, work for, provide services to, own, manage, operate, control or otherwise engage or participate in, or be connected as an owner, partner, principal, creditor, salesman, guarantor, advisor, member of the board of directors of, employee of, independent contractor of, or consultant to, any Conflicting Organization.  The restrictions in this Section I.E.1 include without limitation the solicitation on behalf of a Conflicting Organization of any Client located in any Business Area (e.g., Employee may not on behalf of a Conflicting Organization solicit a Client located within a Business Area by telephoning the Client from a site located outside the Business Area).

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1.Notwithstanding the foregoing provisions of Section I.E and the restrictions set forth therein, Employee may own securities in any publicly held corporation that is covered by the restrictions set forth in Section I.E, but only to the extent that Employee does not own, of record or beneficially, more than 5% of the outstanding beneficial ownership of such corporation.
    F.  Non-Solicitation/Non-Interference with Employees/Candidates.  
    1.      Employee acknowledges that Company has a legitimate protectable interest in maintaining a stable and undisrupted workforce.  Employee agrees that during Employee’s employment and for a period of twenty-four (24) months following the termination of Employee’s employment for any reason, Employee will not, directly or indirectly, on behalf of himself, or on behalf of any other person, entity, or organization, employ, solicit for employment, or otherwise seek to employ or retain any Colleague, or in any way assist or facilitate any such employment, solicitation, or retention effort.  
2.      Employee agrees that during Employee’s employment and for a period of twenty-four (24) months following the termination of Employee’s employment for any reason, Employee shall not, directly or indirectly, engage in any conduct intended or reasonably calculated to induce or urge any Colleague to discontinue, in whole or in part, his/her/their employment relationship with Company.
3.      Employee agrees that during Employee’s employment and for a period of twenty-four (24) months following the termination of Employee’s employment for any reason, Employee will not directly or indirectly, on behalf of himself, or on behalf of any other person, entity, or organization, initiate contact with any Candidate for the purpose of employing, soliciting for employment, or otherwise seeking to employ or retain any Candidate.
    G.  Non-Solicitation/Non-Interference with Clients.  
1.      During Employee’s employment and for a period of twenty-four (24) months following the termination of Employee’s employment for any reason, Employee shall not, directly or indirectly, solicit any Client for the purpose of providing temporary and/or permanent staffing services on behalf of a Conflicting Organization.  Employee’s agreement “not to solicit” as set forth in this Section I.G.1 means that Employee will not, either directly or indirectly, for any reason, initiate any contact or communication with any Client for the purpose of soliciting, inviting, encouraging, recommending or requesting any Client to do business with Employee and/or a Conflicting Organization in connection with the provision of temporary and/or permanent staffing services.
2.      During Employee’s employment and for a period of twenty-four (24) months following the termination of Employee’s employment for any reason, Employee shall not, directly or indirectly, engage in any conduct intended or reasonably calculated to induce or urge any Client to discontinue, in whole or in part, its patronage or business relationship with Company.  
3.      During Employee’s employment and for a period of twenty-four (24) months following the termination of Employee’s employment for any reason, Employee shall not, directly or indirectly, accept any business from, or do any business with, any Client in connection with the provision of temporary and/or permanent staffing services.  
    H.  Representations and Acknowledgments of Employee.  
Employee represents that: 
1.  Employee is familiar with the covenants not to compete and not to interfere with Clients, Candidates and Employees set forth in Article I of this Agreement;
2.  Company has a legitimate business interest in enforcement of the restrictions contained in Article I, including without limitation, Company’s need to protect the goodwill of Company, its 
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investment in training of the Employee, the client relationships of Company, the stability of Company’s workforce, and the confidentiality of Company’s business information and other legitimate interests;
    3.  Employee is fully aware of Employee’s obligations under this Agreement, including, without limitation, the length of time, scope and geographic coverage of these covenants and has had an opportunity to consult an attorney and Company and Employee agree that the provisions of Article I do not impose an undue hardship on Employee and are not injurious to the public; that they are necessary to protect the business of Company and its affiliates and clients; that the nature of Employee’s responsibilities with Company under this Agreement and Employee’s former responsibilities with Company provide and/or have provided Employee with access to Confidential Information that is valuable and confidential to Company; that Company would not employ or continue to employ Employee if Employee did not agree to the provisions of Article I; that Article I is reasonable in its terms and that consideration supports Article I, including new consideration as set forth in the Employee Employment Agreement; 
    4.  Employee’s execution of this agreement, and Employee’s employment by Company, does not violate any agreement that Employee has entered into with a third party, and Employee acknowledges that any inaccuracy in this representation and warranty will constitute grounds for Employee’s immediate termination by Company which will, upon any such termination, have no further obligation to Employee.  Employee agrees to indemnify and hold Company harmless from any and all suits and claims arising out of any breach of any terms and conditions contained in any such agreements entered into by Employee; and
    5.  Employee understands that the identity of Company’s Clients sometimes may be ascertainable by observation or through publicly available resources.  Nonetheless, Employee acknowledges that as a result of Employee’s employment with Company, Employee will be acting as a representative of Company and will be utilizing Company’s assets, resources and will be benefiting from Company’s goodwill, name recognition, reputation, and experience in regard to these Clients, and Employee will gain Confidential Information about these Clients, and consequently, the covenants set forth above are reasonable and necessary to protect Company’s legitimate business interests. 
    I.  Injunctive Relief; Further Remedies.  In the event that Employee breaches or threatens to breach, or Company reasonably believes that Employee is about to breach, any of the covenants of Sections I.B, I.C, I.D, I.E, I.F, or I.G, Employee understands that Company make seek injunctive relief, equitable accounting of all earnings, profits and other benefits arising out of this agreement, as well as any other rights or remedies to which Company may be entitled to under law or equity.  Employee understands that Company may seek and, upon proper evidence as determined in the appropriate Court of Law, may obtain a restraining order and injunction ordering: 
1.  that Employee immediately return to Company all Confidential Information as defined in this Agreement, and any other Company property described in Section I.B above, in any form whether original, copied, computerized, handwritten, or recreated, and that Employee be permanently enjoined and restrained from using or disclosing all said Confidential Information and records; 

    2.  that, during Employee’s employment with Company and for the twelve (12) months following the termination of Employee’s employment for any reason, Employee be enjoined from engaging in, working for, providing services to, owning, managing, operating, controlling or otherwise engaging or participating in, or being connected as an owner, partner, principal, creditor, salesman, guarantor, advisor, member of the board of directors of, employee of, independent contractor of, or consultant to, any Conflicting Organization and/or any Client within any Business Area;
3.  that, during Employee’s employment with Company and for a period of twenty-four (24) months following the termination of Employee’s employment for any reason, Employee be enjoined from employing, soliciting for employment, or otherwise seeking to employ, retain, divert or take away any Colleague, or in any other way assisting or facilitating any such employment, solicitation or retention effort; and further that Employee be enjoined from engaging in any conduct intended or reasonably 
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calculated to induce or urge any Colleague to discontinue, in whole or in part, his/her/their employment relationship with Company;

4.  that, during Employee’s employment and for a period of twenty-four (24) months following the termination of Employee’s employment for any reason, Employee be enjoined from directly or indirectly, on behalf of himself, or on behalf of any other person, entity, or organization, initiating contact with any Candidate for the purpose of employing, soliciting for employment, or otherwise seeking to employ or retain any Candidate; and

5.  that, during Employee’s employment with Company and for a period of twenty-four (24) months following the termination of Employee’s employment for any reason, Employee be enjoined from soliciting any Client for the purpose of providing temporary and/or permanent staffing services, including without limitation that Employee be enjoined from initiating any contact or communication with any Client for the purpose of soliciting, inviting, encouraging, recommending or requesting any Client to do business with a Conflicting Organization in connection with the provision of temporary and/or permanent staffing services; and further, that Employee be enjoined from accepting or doing business with any Client in connection with the provision of temporary and/or permanent staffing services; and further that Employee be enjoined from engaging in any conduct intended or reasonably calculated to induce or urge any Client to discontinue, in whole or in part, its patronage or business relationship with Company.

Employee hereby agrees that the duration of any injunction shall be increased in an amount equal to any period of time during which Employee failed to comply with the covenants contained in this Agreement.

    J.  Notice of Agreement to Subsequent Employers, Business Partners, and/or Investors.   Employee agrees that Employee will tell any prospective new employer, business partners, and/or investors, prior to accepting employment or engaging in a business venture that this Agreement exists, and further, Employee agrees to provide a true and correct copy of this Agreement to any prospective employer, business partner and/or investor prior to accepting employment or engaging in any business venture.  Employee further authorizes Company to provide a copy of this Agreement to any new employer, business partner and/or investor.    
    K.  Severability.  Company and Employee stipulate that, in light of all of the facts and circumstances of the relationship between Employee and Company, the agreements referred to in Sections I.B, I.C, I.D, I.E, I.F, or I.G (including, without limitation their scope, duration and geographic extent) are fair and reasonably necessary for the protection of Company, or any of its affiliates’ or subsidiaries’ confidential information, goodwill and other protectable interests.  Employee acknowledges and agrees that the covenants in I.B, I.C, I.D, I.E, I.F, or I.G of this Agreement are reasonable and valid in geographical and temporal scope and in all other respects, as are all terms and conditions set forth in this Agreement.  If any arbitrator or court determines that any of the covenants, terms, or conditions set forth herein, or any part thereof, is invalid or unenforceable, the remainder of the covenants, terms, and conditions shall not be affected thereby and shall be given full effect, without regard to the invalid portions.  If any arbitrator or court determines that any of the covenants, or any part thereof, is unenforceable because of the duration, geographic or other scope of such provision, such arbitrator or court shall have the power to and should, and Employee and Company request the arbitrator or court to, reform these provisions to restrict Employee’s use of confidential information and Employee’s ability to compete with Company, to the maximum extent, in time, scope of activities, and geography, the court finds enforceable, and, in its reduced form, such provision shall then be enforceable. 
II.  MISCELLANEOUS PROVISIONS
    A.  Choice of Law.  Company and Employee agree that this Agreement and all interpretations of the provisions of this Agreement shall be governed by, construed, interpreted, and its validity determined under the law of the State in which Employee resides at the time of execution of this document. 
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    B.  Jurisdiction and Venue.  Employee and Company hereby irrevocably and unconditionally submit to the jurisdiction of the State in which Employee resides. 

C.  Binding Effect and Assignability.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, personal representatives, successors, assigns, affiliated entities, and any party-in-interest.  Employee agrees and understands that, should Company be acquired by, merge with, or otherwise combine with another corporation or business entity, the surviving entity will have all rights to enforce the terms of this Agreement as if it were Company itself enforcing the Agreement.  Company reserves the right to assign this Agreement to its affiliates, an affiliated company or to any successor in interest to Company’s business without notifying Employee, and Employee hereby consents to any such assignment.  All terms and conditions of this Agreement will remain in effect following any such assignment.  Notwithstanding the foregoing, Employee may not assign this Agreement.  
    D.  No Waiver of Rights.  A waiver by Company of the breach of any of the provisions of this Agreement by Employee shall not be deemed a waiver by Company of any subsequent breach, nor shall recourse to any remedy hereunder be deemed a waiver of any other or further relief or remedy provided for herein.  No waiver shall be effective unless made in writing and signed by the Chief Legal Officer.  This Agreement shall be enforceable regardless of any claim Employee may have against Company.
    E.  Employment at Will.  Nothing by way of this Agreement is intended to, nor shall it, affect the at-will nature of Employee’s employment with Company.  Employee’s employment with Company shall terminate at the will of either Employee or Company, with or without cause and with or without notice at any time.  This at-will relationship cannot be changed or altered in any way unless expressly modified in writing by the Chief Legal Officer of the Company.  Employee agrees that if Employee elects to terminate Employee’s employment with Company, Employee will provide Company with two week’s prior notice of termination.  
F.  Attorneys’ Fees. In any suit or proceeding to enforce the terms of this Agreement, Employee and Company agree that the prevailing party in any such dispute shall be paid and indemnified by the non-prevailing party for and against all expenses of every nature and character incurred by in pursuing such suit or proceeding including, without limitation, all reasonable attorneys’ fees, costs and disbursements.

G.  Headings for Convenience Only.  The headings contained in this Agreement are for the convenience of the parties and for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.
H.  Survival.  This Agreement shall survive the termination of Employee’s employment, however caused.
I.  Counterparts; Electronic Signatures.  This Agreement may be executed in any number of counterparts, either manually or electronically, each of which when so executed and delivered will be deemed an original, and all of which together will constitute one and the same agreement. The parties mutually agree that either party may use electronic signature technology to expedite the execution of this Agreement, pursuant to the Electronic Signatures in Global National Commerce Act, the Uniform Electronic Transaction Act, and any other applicable state or local law, and such electronic signatures will be enforceable as if the signatures were handwritten.
EMPLOYEE ACKNOWLEDGES AND AGREES THAT EMPLOYEE HAS READ AND UNDERSTANDS THIS AGREEMENT, THAT EMPLOYEE HAS BEEN GIVEN AN OPPORTUNITY TO CONSULT WITH LEGAL COUNSEL CONCERNING THE TERMS OF THIS AGREEMENT, AND THAT EMPLOYEE AGREES TO THE TERMS OF THIS AGREEMENT.

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IN WITNESS WHEREOF, and intending to be legally bound hereby, the parties hereto have executed this Agreement as of the date first written below.

        EMPLOYEE                    COMPANY

By:                              By:                          

Name:      Steven C. Cooper                Name:      Garrett Ferencz                

Date:      July 8, 2022                    Title:  Chief Legal Officer and General Counsel
    
                            Date:      July 8, 2022                

    9Exhibit 4.1

 

PROTALIX BIOTHERAPEUTICS, INC.

AMENDED AND RESTATED 2006 STOCK INCENTIVE PLAN,
AS AMENDED

(June 30, 2022)

 

1.            Purposes
of the Plan. The purposes of this Plan are to attract and retain the best available personnel, to provide additional incentives to
Employees, Directors and Consultants and to promote the success of the Company’s business.

 

2.            Definitions.
The following definitions shall apply as used herein and in the individual Award Agreements except as defined otherwise in an individual
Award Agreement. In the event a term is separately defined in an individual Award Agreement, such definition shall supercede the definition
contained in this Section 2.

 

(a)            “3(I) Option”
means Award granted under Section 3(I).

 

(b)            “102
Option” means Award granted under Section 102.

 

(c)            “Administrator”
means the Board or any of the Committees appointed to administer the Plan.

 

(d)            “Affiliate”
and “Associate” shall have the respective meanings ascribed to such terms in Rule 12b-2 promulgated under the
Exchange Act.

 

(e)            “Applicable
Laws” means the legal requirements relating to the Plan and the Awards under applicable provisions of federal securities laws,
state corporate and securities laws, the Code, the rules of any applicable stock exchange or national market system, and the rules of
any non-U.S. jurisdiction applicable to Awards granted to residents therein.

 

(f)            “Assumed”
means that pursuant to a Corporate Transaction either (i) the Award is expressly affirmed by the Company or (ii) the contractual
obligations represented by the Award are expressly assumed (and not simply by operation of law) by the successor entity or its Parent
in connection with the Corporate Transaction with appropriate adjustments to the number and type of securities of the successor entity
or its Parent subject to the Award and the exercise or purchase price thereof which at least preserves the compensation element of the
Award existing at the time of the Corporate Transaction as determined in accordance with the instruments evidencing the agreement to assume
the Award.

 

(g)            “Award”
means the grant of an Option, SAR, Dividend Equivalent Right, Restricted Stock, Restricted Stock Unit or other right or benefit under
the Plan.

 

(h)            “Award
Agreement” means the written agreement evidencing the grant of an Award executed by the Company and the Grantee, including any
amendments thereto.

 

(i)            “Board”
means the Board of Directors of the Company.

 

(j)            “Cause”
means, with respect to the termination by the Company or a Related Entity of the Grantee's Continuous Service, that such termination is
for “Cause” as such term (or word of like import) is expressly defined in a then-effective written agreement between the Grantee
and the Company or such Related Entity, or in the absence of such then-effective written agreement and definition, is based on, in the
determination of the Administrator, the Grantee’s: (i) performance of any act or failure to perform any act in bad faith which
is materially detrimental to the Company or a Related Entity as reasonably determined in good faith by a unanimous decision of members
of the Board entitled to vote thereon; (ii) dishonesty, intentional misconduct or material
breach of any agreement with the Company or a Related Entity; (iii) commission of a crime involving dishonesty, breach of trust,
or physical or emotional harm to any person; (iv) embezzlement of funds of the Company or a Related Entity; (v) ownership, direct
or indirect (i.e., by means of a holding company or family member), of an interest in a person or entity (other than a minority interest
in a publicly traded company) in competition with the products or services of the Company or a Related Entity, including those products
or services contemplated in a plan adopted by the Board; (vi) any breach of the Grantee’s fiduciary duties or duties of care
to the Company or a Related Entity (except for conduct taken in good faith); (vii) any material failure to carry out a reasonable
and legitimate directive of the Board; or (viii) any material breach of an Employee's
undertakings of confidentiality and non competition.

 

    

    

    

 

(k)            “Change
in Control” means a change in ownership or control of the Company effected through either of the following transactions:

 

(i)            the
direct or indirect acquisition by any person or related group of persons (other than an acquisition from or by the Company or by a Company-sponsored
employee benefit plan or by a person that directly or indirectly controls, is controlled by, or is under common control with, the Company)
of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than fifty percent (50%)
of the total combined voting power of the Company’s outstanding securities pursuant to a tender or exchange offer made directly
to the Company’s stockholders which a majority of the Continuing Directors who are not Affiliates or Associates of the offeror do
not recommend such stockholders accept, or

 

(ii)            a
change in the composition of the Board over a period of twelve (12) months or less such that a majority of the Board members (rounded
up to the next whole number) ceases, by reason of one or more contested elections for Board membership, to be comprised of individuals
who are Continuing Directors.

 

(l)            “Code”
means the Internal Revenue Code of 1986, as amended.

 

(m)            “Committee”
means any committee composed of members of the Board appointed by the Board to administer the Plan.

 

(n)            “Common
Stock” means the common stock of the Company.

 

(o)            “Company”
means Protalix BioTherapeutics, Inc., a Delaware corporation, or any successor entity that adopts the Plan in connection with a Corporate
Transaction.

 

(p)            “Consultant”
means any person (other than an Employee or a Director, solely with respect to rendering services in such person’s capacity as a
Director) who is engaged by the Company or any Related Entity to render consulting or advisory services to the Company or such Related
Entity.

 

(q)            “Continuing
Directors” means members of the Board who either (i) have been Board members continuously for a period of at least twelve
(12) months or (ii) have been Board members for less than twelve (12) months and were elected or nominated for election as Board
members by at least a majority of the Board members described in clause (i) who were still in office at the time such election
or nomination was approved by the Board.

 

(r)            “Continuous
Service” means that the provision of services to the Company or a Related Entity in any capacity of Employee, Director or Consultant
is not interrupted or terminated. In jurisdictions requiring notice in advance of an effective termination as an Employee, Director or
Consultant, Continuous Service shall be deemed terminated upon the actual cessation of providing services to the Company or a Related
Entity notwithstanding any required notice period that must be fulfilled before a termination as an Employee, Director or Consultant can
be effective under Applicable Laws. A Grantee’s Continuous Service shall be deemed to have terminated either upon an actual termination
of Continuous Service or upon the entity for which the Grantee provides services ceasing to be a Related Entity. Continuous Service shall
not be considered interrupted in the case of (i) any approved leave of absence, (ii) transfers among the Company, any Related
Entity, or any successor, in any capacity of Employee, Director or Consultant, or (iii) any change in status as long as the individual
remains in the service of the Company or a Related Entity in any capacity of Employee, Director or Consultant (except as otherwise provided
in the Award Agreement). An approved leave of absence shall include sick leave, military leave, or any other authorized personal leave.
For purposes of each Incentive Stock Option granted under the Plan, if such leave exceeds three (3) months, and reemployment upon
expiration of such leave is not guaranteed by statute or contract, then the Incentive Stock Option shall be treated as a Non-Qualified
Stock Option on the day three (3) months and one (1) day following the expiration of such three (3) month period.

 

(s)            “Corporate
Transaction” means any of the following transactions, provided, however, that the Administrator shall determine under parts
(iv) and (v) whether multiple transactions are related, and its determination shall be final, binding and conclusive:

 

(i)            a
merger or consolidation in which the Company is not the surviving entity, except for a transaction the principal purpose of which is to
change the state in which the Company is incorporated;

 

(ii)            the
sale, transfer or other disposition of all or substantially all of the assets of the Company;

 

(iii)            the
complete liquidation or dissolution of the Company;

 

    2

    

    

 

(iv)            any
reverse merger or series of related transactions culminating in a reverse merger (including, but not limited to, a tender offer followed
by a reverse merger) in which the Company is the surviving entity but (A) the shares of Common Stock outstanding immediately prior
to such merger are converted or exchanged by virtue of the merger into other property, whether in the form of securities, cash or otherwise,
or (B) in which securities possessing more than forty percent (40%) of the total combined voting power of the Company’s outstanding
securities are transferred to a person or persons different from those who held such securities immediately prior to such merger or the
initial transaction culminating in such merger; or

 

(v)            acquisition
in a single or series of related transactions by any person or related group of persons (other than the Company or by a Company-sponsored
employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more
than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities but excluding any such transaction
or series of related transactions that the Administrator determines shall not be a Corporate Transaction (provided however that the Administrator
shall have no discretion in connection with a Corporate Transaction for the purchase of all or substantially all of the shares of the
Company unless the principal purpose of such transaction is to change the state in which the Company is incorporated).

 

(t)            “Covered
Employee” means an Employee who is a “covered employee” under Section 162(m)(3) of the Code.

 

(u)            “Director”
means a member of the Board or the board of directors of any Related Entity.

 

(v)            “Disability”
means as defined under the long-term disability policy of the Company or the Related Entity to which the Grantee provides services regardless
of whether the Grantee is covered by such policy. If the Company or the Related Entity to which the Grantee provides service does not
have a long-term disability plan in place, “Disability” means that a Grantee is unable to carry out the responsibilities and
functions of the position held by the Grantee by reason of any medically determinable physical or mental impairment for a period of not
less than ninety (90) consecutive days. A Grantee will not be considered to have incurred a Disability unless he or she furnishes proof
of such impairment sufficient to satisfy the Administrator in its discretion.

 

(w)            “Dividend
Equivalent Right” means a right entitling the Grantee to compensation measured by dividends paid with respect to Common Stock.

 

(x)            “Employee”
means any person, including an Officer or Director, who is in the employ of the Company or any Related Entity, subject to the control
and direction of the Company or any Related Entity as to both the work to be performed and the manner and method of performance. The payment
of a director’s fee by the Company or a Related Entity shall not be sufficient to constitute “employment” by the Company.

 

(y)            “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

(z)            “Fair
Market Value” means, as of any date, the value of Common Stock determined as follows:

 

(i)            If
the Common Stock is listed on one or more established stock exchanges or national market systems, including without limitation the American
Stock Exchange, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported)
as quoted on the principal exchange or system on which the Common Stock is listed (as determined by the Administrator) on the date of
determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on the last trading date such closing
sales price or closing bid was reported), as reported in The Wall Street Journal or such other source as the Administrator deems reliable;

 

(ii)            If
the Common Stock is regularly quoted on an automated quotation system (including the OTC Bulletin Board) or by a recognized securities
dealer, its Fair Market Value shall be the closing sales price for such stock as quoted on such system or by such securities dealer on
the date of determination, but if selling prices are not reported, the Fair Market Value of a share of Common Stock shall be the mean
between the high bid and low asked prices for the Common Stock on the date of determination (or, if no such prices were reported on that
date, on the last date such prices were reported), as reported in The Wall Street Journal or such other source as the Administrator deems
reliable; or

 

    3

    

    

 

(iii)            In
the absence of an established market for the Common Stock of the type described in (i) and (ii), above, the Fair Market Value thereof
shall be determined by the Administrator in good faith.

 

(aa)     “Grantee”
means an Employee, Director or Consultant who receives an Award under the Plan.

 

(bb)     “Incentive
Stock Option” means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the
Code.

 

(cc)     “Israeli
Employee” means Employees, office holders of the Company or a Related Company (“Nosei Misra” - as such term is defined
in the Israeli Companies Law 1999) and Directors (excluding those who are considered a “Controlling Shareholder” pursuant
to Section 32(9) of the Tax Ordinance or otherwise excluded by the Tax Ordinance).

 

(dd)     “Israeli
Grantee” means Grantees who are residents of the State of Israel or those who are deemed to be residents of the State of Israel
for the payment of tax (whether such grantee is entitled to the tax benefits under Section 102 or not).

 

(ee)     “ITA”
means Israeli Tax Authorities.

 

(ff)     “Non-Employee”
means Consultants or any other person who is not an Israeli Employee.

 

(gg)     “Non-Qualified
Stock Option” means an Option not intended to qualify as an Incentive Stock Option.

 

(hh)     “Non-Trustee
102 Option” shall mean a 102 Option granted pursuant to Section 102(c) of the Tax Ordinance and not held in trust
by the Trustee.

 

(ii)            “Officer”
means a person who is an officer of the Company or a Related Entity within the meaning of Section 16 of the Exchange Act and the
rules and regulations promulgated thereunder.

 

(jj)     “Option”
means an option to purchase Shares pursuant to an Award Agreement granted under the Plan.

 

(kk)     “Parent”
means a “parent corporation”, whether now or hereafter existing, as defined in Section 424(e) of the Code.

 

(ll)     “Performance-Based
Compensation” means compensation qualifying as “performance-based compensation” under Section 162(m) of
the Code.

 

(mm)     “Plan”
means this Amended and Restated 2006 Stock Incentive Plan.

 

(nn)     “Related
Entity” means any Parent or Subsidiary of the Company. With respect to Israeli Grantees of 102 Options, the definition shall
further include any entity permitted under Section 102 (a) of the Tax Ordinance.

 

(oo)     “Replaced”
means that pursuant to a Corporate Transaction the Award is replaced with a comparable stock award or a cash incentive program of
the Company, the successor entity (if applicable) or Parent of either of them which preserves the compensation element of such Award existing
at the time of the Corporate Transaction and provides for subsequent payout in accordance with the same (or a more favorable) vesting
schedule applicable to such Award. The determination of Award comparability shall be made by the Administrator and its determination shall
be final, binding and conclusive.

 

(pp)     “Restricted
Stock” means Shares issued under the Plan to the Grantee for such consideration, if any, and subject to such restrictions on
transfer, rights of first refusal, repurchase provisions, forfeiture provisions, and other terms and conditions as established by the
Administrator.

 

(qq)     “Restricted
Stock Units” means an Award which may be earned in whole or in part upon the passage of time or the attainment of performance
criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares
or other securities as established by the Administrator.

 

    4

    

    

 

(rr)     “Rule 16b-3”
means Rule 16b-3 promulgated under the Exchange Act or any successor thereto.

 

(ss)     “SAR”
means a stock appreciation right entitling the Grantee to Shares or cash compensation, as established by the Administrator, measured by
appreciation in the value of Common Stock.

 

(tt)     “Section 3(I)”
means section 3(I) of the Tax Ordinance as may be amended from time to time.

 

(uu)     “Section 102”
means section 102 of the Tax Ordinance as may be amended from time to time.

 

(vv)     “Share”
means a share of the Common Stock.

 

(ww)     “Subsidiary”
means a “subsidiary corporation”, whether now or hereafter existing, as defined in Section 424(f) of the Code.

 

(xx)     “Tax
Ordinance” means the Israeli Income Tax Ordinance [New Version], 1961 (including as amended pursuant to Amendment 132 thereto)
and to the extent not specifically indicated hereunder also the rules, regulations and orders or procedures promulgated thereunder from
time to time, as amended or replaced from time to time.

 

(yy)     “Trustee”
means any individual appointed by the Company to serve as trustee and approved by the ITA, in accordance with the provisions of Section 102(a) of
the Tax Ordinance and the regulations promulgated thereunder.

 

(zz)     “Trustee
102 Option” means a 102 Option granted pursuant to Section 102(b) of the Tax Ordinance and held in trust by the Trustee
for the benefit of an Israeli Grantee.

 

3.            Stock
Subject to the Plan.

 

(a)            Subject
to the provisions of Section ‎10, below, the maximum aggregate number of Shares which may be issued pursuant to all Awards (including
Incentive Stock Options) under the Plan is 8,475,171 Shares. Notwithstanding the foregoing, any Shares issued from and after November 10,
2014 in connection with Awards other than Options and SARs shall be counted against the limit set forth herein as one and one-half (1.5)
Shares for every one (1) Share issued in connection with such Award (and shall be counted as one and one-half (1.5) Shares for every
one (1) Share returned or deemed not have been issued from the Plan pursuant to Section 3(b) below in connection with Awards
other than Options and SARs). The Shares to be issued pursuant to Awards may be authorized, but unissued, or reacquired Common Stock.

 

(b)            Any
Shares covered by an Award (or portion of an Award) which is forfeited, canceled or expires (whether voluntarily or involuntarily) shall
be deemed not to have been issued for purposes of determining the maximum aggregate number of Shares which may be issued under the Plan.
Shares that actually have been issued under the Plan pursuant to an Award shall not be returned to the Plan and shall not become available
for future issuance under the Plan, except that if unvested Shares are forfeited, or repurchased by the Company at the lower of their
original purchase price or their Fair Market Value at the time of repurchase, such Shares shall become available for future grant under
the Plan. Notwithstanding anything to the contrary contained herein: (i) Shares tendered or withheld in payment of an Option exercise
price shall not be returned to the Plan and shall not become available for future issuance under the Plan; (ii) Shares withheld by
the Company to satisfy any tax withholding obligation shall not be returned to the Plan and shall not become available for future issuance
under the Plan; and (iii) all Shares covered by the portion of an SAR that is exercised (whether or not Shares are actually issued
to the Grantee upon exercise of the SAR) shall be considered issued pursuant to the Plan.

 

4.            Administration
of the Plan.

 

(a)            Plan
Administrator.

 

(i)            Administration
with Respect to Directors and Officers. With respect to grants of Awards to Directors or Employees who are also Officers or Directors
of the Company, the Plan shall be administered by (A) the Board or (B) a Committee designated by the Board, which Committee
shall be constituted in such a manner as to satisfy the Applicable Laws and to permit such grants and related transactions under the Plan
to be exempt from Section 16(b) of the Exchange Act in accordance with Rule 16b-3. Once appointed, such Committee shall
continue to serve in its designated capacity until otherwise directed by the Board.

 

    5

    

    

 

(ii)            Administration
With Respect to Consultants and Other Employees. With respect to grants of Awards to Employees or Consultants who are neither Directors
nor Officers of the Company, the Plan shall be administered by (A) the Board or (B) a Committee designated by the Board, which
Committee shall be constituted in such a manner as to satisfy the Applicable Laws. Once appointed, such Committee shall continue to serve
in its designated capacity until otherwise directed by the Board. The Board may authorize one or more Officers to grant such Awards and
may limit such authority as the Board determines from time to time.

 

(iii)            Administration
With Respect to Covered Employees. Notwithstanding the foregoing, grants of Awards to any Covered Employee intended to qualify as
Performance-Based Compensation shall be made only by a Committee (or subcommittee of a Committee) which is comprised solely of two or
more Directors eligible to serve on a committee making Awards qualifying as Performance-Based Compensation. In the case of such Awards
granted to Covered Employees, references to the “Administrator” or to a “Committee” shall be deemed to be references
to such Committee or subcommittee.

 

(iv)            Administration
With Respect to Israeli Grantees. With respect to grants of Awards to Israeli Grantees, the Plan shall be administered by (A) the
Board or (B) a Committee or one or more Officers designated by the Board, which Committee or Officers shall be constituted or appointed
in such a manner as to satisfy the ITA and the Applicable Laws applicable to Awards for Israeli Grantees. Once appointed, such Committee
or Officer shall continue to serve in its/his/her designated capacity until otherwise directed by the Board.

 

(v)            Administration
Errors. In the event an Award is granted in a manner inconsistent with the provisions of this subsection (a), such Award shall
be presumptively valid as of its grant date to the extent permitted by the Applicable Laws.

 

(b)            Powers
of the Administrator. Subject to Applicable Laws and the provisions of the Plan (including any other powers given to the Administrator
hereunder), and except as otherwise provided by the Board, the Administrator shall have the authority, in its discretion:

 

(i)            to
select the Employees, Directors and Consultants to whom Awards may be granted from time to time hereunder;

 

(ii)           to
determine whether and to what extent Awards are granted hereunder;

 

(iii)          to
determine the number of Shares or the amount of other consideration to be covered by each Award granted hereunder;

 

(iv)          to
approve forms of Award Agreements for use under the Plan;

 

(v)           to
determine the terms and conditions of any Award granted hereunder;

 

(vi)          to
amend the terms of any outstanding Award granted under the Plan, provided that (A) any amendment that would adversely affect the
Grantee’s rights under an outstanding Award shall not be made without the Grantee’s written consent, provided, however, that
an amendment or modification that may cause an Incentive Stock Option to become a Non-Qualified Stock Option shall not be treated as adversely
affecting the rights of the Grantee, (B) the reduction of the exercise price of any Option awarded under the Plan and the base appreciation
amount of any SAR awarded under the Plan shall be subject to stockholder approval and (C) canceling an Option or SAR at a time when
its exercise price or base appreciation amount (as applicable) exceeds the Fair Market Value of the underlying Shares, in exchange for
another Option, SAR, Restricted Stock, or other Award or for cash shall be subject to stockholder approval, unless the cancellation and
exchange occurs in connection with a Corporate Transaction. Notwithstanding the foregoing, canceling an Option or SAR in exchange for
another Option, SAR, Restricted Stock, or other Award or for cash with an exercise price, purchase price or base appreciation amount (as
applicable) that is equal to or greater than the exercise price or base appreciation amount (as applicable) of the original Option or
SAR shall not be subject to stockholder approval;

 

(vii)         to
construe and interpret the terms of the Plan and Awards, including without limitation, any notice of award or Award Agreement, granted
pursuant to the Plan;

 

    6

    

    

 

(viii)        to
grant Awards to Employees, Directors and Consultants employed outside the United States on such terms and conditions different from those
specified in the Plan as may, in the judgment of the Administrator, be necessary or desirable to further the purpose of the Plan; and

 

(ix)           to
designate Awards as 102 Options (whether through a trustee or not) or 3(I) Options subject to the limitations under the ITA or any
other Applicable Law and to determine the type and route of the Trustee 102 Options.

 

(x)            to
take such other action, not inconsistent with the terms of the Plan, as the Administrator deems appropriate.

 

The express grant in the Plan of any specific power to the Administrator
shall not be construed as limiting any power or authority of the Administrator; provided that the Administrator may not exercise any right
or power reserved to the Board. Any decision made, or action taken, by the Administrator or in connection with the administration of this
Plan shall be final, conclusive and binding on all persons having an interest in the Plan.

 

(c)            Indemnification.
In addition to such other rights of indemnification as they may have as members of the Board or as Officers or Employees of the Company
or a Related Entity, members of the Board and any Officers or Employees of the Company or a Related Entity to whom authority to act for
the Board, the Administrator or the Company is delegated shall be defended and indemnified by the Company to the extent permitted by law
on an after-tax basis against all reasonable expenses, including attorneys’ fees, actually and necessarily incurred in connection
with the defense of any claim, investigation, action, suit or proceeding, or in connection with any appeal therein, to which they or any
of them may be a party by reason of any action taken or failure to act under or in connection with the Plan, or any Award granted hereunder,
and against all amounts paid by them in settlement thereof (provided such settlement is approved by the Company) or paid by them in satisfaction
of a judgment in any such claim, investigation, action, suit or proceeding, except in relation to matters as to which it shall be adjudged
in such claim, investigation, action, suit or proceeding that such person is liable for gross negligence, bad faith or intentional misconduct;
provided, however, that within thirty (30) days after the institution of such claim, investigation, action, suit or proceeding, such person
shall offer to the Company, in writing, the opportunity at the Company’s expense to defend the same.

 

5.            Eligibility.
Awards other than Incentive Stock Options may be granted to Employees, Directors and Consultants. Incentive Stock Options may be granted
only to Employees of the Company or a Parent or a Subsidiary of the Company. An Employee, Director or Consultant who has been granted
an Award may, if otherwise eligible, be granted additional Awards. Awards may be granted to such Employees, Directors or Consultants who
are residing in non-U.S. jurisdictions as the Administrator may determine from time to time, provided however that Awards to Israeli Grantees
under Section 102 or Section 3(I) of the Tax Ordinance shall be subject to Section 20 below.

 

The Company does not warrant that the Plan will
be recognized by the income tax authorities in any jurisdiction or that future changes will not be made to the provisions of applicable
laws or rules or regulations which are promulgated from time to time thereunder, or that any exemption or benefit currently available,
whether by the ITA pursuant to Section 102 or otherwise, will not be abolished.

 

6.            Terms
and Conditions of Awards.

 

(a)            Types
of Awards. The Administrator is authorized under the Plan to award any type of arrangement to an Employee, Director or Consultant
that is not inconsistent with the provisions of the Plan and that by its terms involves or might involve the issuance of (i) Shares,
(ii) cash or (iii) an Option, a SAR, or similar right with a fixed or variable price related to the Fair Market Value of the
Shares and with an exercise or conversion privilege related to the passage of time, the occurrence of one or more events, or the satisfaction
of performance criteria or other conditions. Such awards include, without limitation, Options, SARs, sales or bonuses of Restricted Stock,
Restricted Stock Units or Dividend Equivalent Rights, and an Award may consist of one such security or benefit, or two (2) or more
of them in any combination or alternative.

 

(b)            Designation
of Award. Each Award shall be designated in the Award Agreement. In the case of an Option, the Option shall be designated as either
an Incentive Stock Option or a Non-Qualified Stock Option and with respect to Israeli Grantees may be further designated as 102 Options
or 3(I) Options under the Tax Ordinance subject to the qualifications described in Section 20 below. However, notwithstanding
such designation, an Option will qualify as an Incentive Stock Option under the Code only to the extent the $100,000 dollar limitation
of Section 422(d) of the Code is not exceeded. The $100,000 limitation of Section 422(d) of the Code is calculated
based on the aggregate Fair Market Value of the Shares subject to Options designated as Incentive Stock Options which become exercisable
for the first time by a Grantee during any calendar year (under all plans of the Company or any Parent or Subsidiary of the Company).
For purposes of this calculation, Incentive Stock Options shall be taken into account in the order in which they were granted, and
the Fair Market Value of the Shares shall be determined as of the grant date of the relevant Option. In the event that the Code or the
regulations promulgated thereunder are amended after the date the Plan becomes effective to provide for a different limit on the Fair
Market Value of Shares permitted to be subject to Incentive Stock Options, then such different limit will be automatically incorporated
herein and will apply to any Options granted after the effective date of such amendment.

 

    7

    

    

 

(c)            Conditions
of Award. Subject to the terms of the Plan, the Administrator shall determine the provisions, terms, and conditions of each Award
including, but not limited to, the Award vesting schedule, repurchase provisions, rights of first refusal, forfeiture provisions, form
of payment (cash, Shares, or other consideration) upon settlement of the Award, payment contingencies, and satisfaction of any performance
criteria. The performance criteria established by the Administrator may be based on any one of, or combination of, the following: (i) increase
in share price, (ii) earnings per share, (iii) total stockholder return, (iv) operating margin, (v) gross margin,
(vi) return on equity, (vii) return on assets, (viii) return on investment, (ix) operating income, (x) net operating
income, (xi) pre-tax profit, (xii) cash flow, (xiii) revenue, (xiv) expenses, (xv) earnings before interest,
taxes and depreciation, (xvi) economic value added and (xvii) market share. The performance criteria may be applicable to the
Company, Related Entities and/or any individual business units of the Company or any Related Entity. Partial achievement of the specified
criteria may result in a payment or vesting corresponding to the degree of achievement as specified in the Award Agreement. In addition,
the performance criteria shall be calculated in accordance with generally accepted accounting principles, but excluding the effect (whether
positive or negative) of any change in accounting standards and any extraordinary, unusual or nonrecurring item, as determined by the
Administrator, occurring after the establishment of the performance criteria applicable to the Award intended to be performance-based
compensation. Each such adjustment, if any, shall be made solely for the purpose of providing a consistent basis from period to period
for the calculation of performance criteria in order to prevent the dilution or enlargement of the Grantee’s rights with respect
to an Award intended to be performance-based compensation.

 

(d)            Acquisitions
and Other Transactions. The Administrator may issue Awards under the Plan in settlement, assumption or substitution for, outstanding
awards or obligations to grant future awards in connection with the Company or a Related Entity acquiring another entity, an interest
in another entity or an additional interest in a Related Entity whether by merger, stock purchase, asset purchase or other form of transaction.

 

(e)            Deferral
of Award Payment. The Administrator may establish one or more programs under the Plan to permit selected Grantees the opportunity
to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event that absent
the election would entitle the Grantee to payment or receipt of Shares or other consideration under an Award. The Administrator may establish
the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other earnings, if any,
on amounts, Shares or other consideration so deferred, and such other terms, conditions, rules and procedures that the Administrator
deems advisable for the administration of any such deferral program.

 

(f)            Separate
Programs. The Administrator may establish one or more separate programs under the Plan for the purpose of issuing particular forms
of Awards to one or more classes of Grantees on such terms and conditions as determined by the Administrator from time to time.

 

(g)            Individual
Limitations on Awards.

 

(i)            Individual
Limit for Options and SARs. The maximum number of Shares with respect to which Options and SARs may be granted to any Grantee in any
calendar year shall be 8,475,171 Shares. Shares which shall not count against the limit set forth in the previous sentence. The foregoing
limitations shall be adjusted proportionately in connection with any change in the Company’s capitalization pursuant to Section ‎10,
below. To the extent required by Section 162(m) of the Code or the regulations thereunder, in applying the foregoing limitations
with respect to a Grantee, if any Option or SAR is canceled, the canceled Option or SAR shall continue to count against the maximum number
of Shares with respect to which Options and SARs may be granted to the Grantee. For this purpose, the repricing of an Option (or in the
case of a SAR, the base amount on which the stock appreciation is calculated is reduced to reflect a reduction in the Fair Market Value
of the Common Stock) shall be treated as the cancellation of the existing Option or SAR and the grant of a new Option or SAR.

 

    8

    

    

 

(ii)           Individual
Limit for Restricted Stock and Restricted Stock Units. For awards of Restricted Stock and Restricted Stock Units that are intended
to be Performance-Based Compensation, the maximum number of Shares with respect to which such Awards may be granted to any Grantee in
any calendar year shall be 8,475,171 Shares. The foregoing limitation shall be adjusted proportionately in connection with any change
in the Company’s capitalization pursuant to Section ‎10, below.

 

(iii)          Deferral.
If the vesting or receipt of Shares under an Award is deferred to a later date, any amount (whether denominated in Shares or cash) paid
in addition to the original number of Shares subject to such Award will not be treated as an increase in the number of Shares subject
to the Award if the additional amount is based either on a reasonable rate of interest or on one or more predetermined actual investments
such that the amount payable by the Company at the later date will be based on the actual rate of return of a specific investment (including
any decrease as well as any increase in the value of an investment).

 

(h)            Early
Exercise. The Award Agreement may, but need not, include a provision whereby the Grantee may elect at any time while an Employee,
Director or Consultant to exercise any part or all of the Award prior to full vesting of the Award. Any unvested Shares received pursuant
to such exercise may be subject to a repurchase right in favor of the Company or a Related Entity or to any other restriction the Administrator
determines to be appropriate.

 

(i)            Term
of Award. The term of each Award shall be the term stated in the Award Agreement, provided, however, that the term of an Award shall
be no more than ten (10) years from the date of grant thereof. However, in the case of an Incentive Stock Option granted to
a Grantee who, at the time the Option is granted, owns stock representing more than ten percent (10%) of the voting power of all
classes of stock of the Company or any Parent or Subsidiary of the Company, the term of the Incentive Stock Option shall be five (5) years
from the date of grant thereof or such shorter term as may be provided in the Award Agreement.

 

(j)            Transferability
of Awards. Incentive Stock Options or Options to Israeli Grantees may not be sold, pledged, assigned, hypothecated, transferred, or
disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the
Grantee, only by the Grantee. Other Awards shall be transferable (i) by will and by the laws of descent and distribution and (ii) during
the lifetime of the Grantee, to the extent and in the manner authorized by the Administrator but only to the extent such transfers are
made to family members, to family trusts, to family controlled entities, to charitable organizations, and pursuant to domestic relations
orders or agreements, in all cases without payment for such transfers to the Grantee. Notwithstanding the foregoing, the Grantee may designate
one or more beneficiaries of the Grantee’s Award in the event of the Grantee’s death on a beneficiary designation form provided
by the Administrator.

 

(k)            Time
of Granting Awards. The date of grant of an Award shall for all purposes be the date on which the Administrator makes the determination
to grant such Award, or such other date as is determined by the Administrator.

 

7.            Award
Exercise or Purchase Price, Consideration and Taxes.

 

(a)            Exercise
or Purchase Price. The exercise or purchase price, if any, for an Award shall be as follows:

 

(i)            In
the case of an Incentive Stock Option:

 

(A)            granted
to an Employee who, at the time of the grant of such Incentive Stock Option owns stock representing more than ten percent (10%) of the
voting power of all classes of stock of the Company or any Parent or Subsidiary of the Company, the per Share exercise price shall be
not less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant; or

 

(B)            granted
to any Employee other than an Employee described in the preceding paragraph, the per Share exercise price shall be not less than one hundred
percent (100%) of the Fair Market Value per Share on the date of grant.

 

(ii)           In
the case of a Non-Qualified Stock Option, the per Share exercise price shall be not less than one hundred percent (100%) of the Fair Market
Value per Share on the date of grant.

 

(iii)          In
the case of Awards intended to qualify as Performance-Based Compensation, the exercise or purchase price, if any, shall be not less than
one hundred percent (100%) of the Fair Market Value per Share on the date of grant.

 

    9

    

    

 

(iv)          In
the case of SARs (other than with respect to Israeli Grantees), the base appreciation amount shall not be less than one hundred percent
(100%) of the Fair Market Value per Share on the date of grant.

 

(v)           In
the case of other Awards, such price as is determined by the Administrator.

 

(vi)          Notwithstanding
the foregoing provisions of this Section ‎7‎(a), in the case of an Award issued pursuant to Section ‎6(d), above,
the exercise or purchase price for the Award shall be determined in accordance with the provisions of the relevant instrument evidencing
the agreement to issue such Award.

 

(b)            Consideration.
Subject to Applicable Laws, the consideration to be paid for the Shares to be issued upon exercise or purchase of an Award including the
method of payment, shall be determined by the Administrator. In addition to any other types of consideration the Administrator may determine,
the Administrator is authorized to accept as consideration for Shares issued under the Plan the following:

 

(i)            cash;

 

(ii)           check;

 

(iii)          surrender
of Shares or delivery of a properly executed form of attestation of ownership of Shares as the Administrator may require which have a
Fair Market Value on the date of surrender or attestation equal to the aggregate exercise price of the Shares as to which said Award shall
be exercised;

 

(iv)          with
respect to Options, payment through a broker-dealer sale and remittance procedure pursuant to which the Grantee (A) shall provide
written instructions to a Company designated brokerage firm to effect the immediate sale of some or all of the purchased Shares and remit
to the Company sufficient funds to cover the aggregate exercise price payable for the purchased Shares and (B) shall provide written
directives to the Company to deliver the certificates for the purchased Shares directly to such brokerage firm in order to complete the
sale transaction; or

 

(v)           with
respect to Options, payment through a “net exercise” such that, without the payment of any funds, the Grantee may exercise
the Option and receive the net number of Shares equal to (i) the number of Shares as to which the Option is being exercised, multiplied
by (ii) a fraction, the numerator of which is the Fair Market Value per Share (on such date as is determined by the Administrator)
less the Exercise Price per Share, and the denominator of which is such Fair Market Value per Share (the number of net Shares to be received
shall be rounded down to the nearest whole number of Shares);

 

(vi)          any
combination of the foregoing methods of payment.

 

The Administrator may at any time or from time to time, by adoption
of or by amendment to the standard forms of Award Agreement described in Section 4(b)(iv), or by other means, grant Awards which
do not permit all of the foregoing forms of consideration to be used in payment for the Shares or which otherwise restrict one or more
forms of consideration.

 

(c)            Taxes.
No Shares shall be delivered under the Plan to any Grantee or other person until such Grantee or other person has made arrangements acceptable
to the Administrator for the satisfaction of any non-U.S., federal, state, or local income and employment tax withholding obligations,
including, without limitation, obligations incident to the receipt of Shares. Upon exercise or vesting of an Award the Company shall withhold
or collect from the Grantee an amount sufficient to satisfy such tax obligations, including, but not limited to, by surrender of the whole
number of Shares covered by the Award sufficient to satisfy the minimum applicable tax withholding obligations incident to the exercise
or vesting of an Award (reduced to the lowest whole number of Shares if such number of Shares withheld would result in withholding a fractional
Share with any remaining tax withholding settled in cash).

 

8.            Exercise
of Award.

 

(a)            Procedure
for Exercise; Rights as a Stockholder.

 

(i)            Any
Award granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator under the terms
of the Plan and specified in the Award Agreement provided however that the standard vesting schedule for Israeli Grantees shall be as
set forth in Section 20.

 

    10

    

    

 

(ii)           An
Award shall be deemed to be exercised when written notice of such exercise has been given to the Company in accordance with the terms
of the Award by the person entitled to exercise the Award and full payment for the Shares with respect to which the Award is exercised
has been made, including, to the extent selected, use of the broker-dealer sale and remittance procedure to pay the purchase price as
provided in Section 7(b).

 

(b)            Exercise
of Award Following Termination of Continuous Service. In the event of termination of a Grantee’s Continuous Service for any
reason other than Cause, Disability or death, such Grantee may, but only within twelve (12) months from the date of such termination
(or such longer or shorter period as specified in the Award Agreement but in no event later than the expiration date of the term of such
Award as set forth in the Award Agreement), exercise the portion of the Grantee’s Award that was vested at the date of such termination
or such other portion of the Grantee’s Award as may be determined by the Administrator. To the extent that the Grantee’s Award
was unvested at the date of termination, or if Grantee does not exercise the vested portion of the Grantee’s Award within the time
specified herein, the Award shall terminate.

 

(c)            Exercise
of Award Following Termination of Continuous Service for Cause. In the event of termination of a Grantee’s Continuous Service
for Cause, such Grantee may, but only within fourteen (14) days from the date of such termination (or such longer or shorter period
as specified in the Award Agreement but in no event later than the expiration date of the term of such Award as set forth in the Award
Agreement), exercise the portion of the Grantee’s Award that was vested at the date of such termination or such other portion of
the Grantee’s Award as may be determined by the Administrator. To the extent that the Grantee’s Award was unvested at the
date of termination, or if Grantee does not exercise the vested portion of the Grantee’s Award within the time specified herein,
the Award shall terminate.

 

(d)            Disability
of Grantee. In the event of termination of a Grantee’s Continuous Service as a result of his or her Disability, such Grantee
may, but only within twelve (12) months from the date of such termination (or such longer or shorter period as specified in the Award
Agreement but in no event later than the expiration date of the term of such Award as set forth in the Award Agreement), exercise the
portion of the Grantee’s Award that was vested at the date of such termination or such other portion of the Grantee’s Award
as may be determined by the Administrator. To the extent that the Grantee’s Award was unvested at the date of termination, or if
Grantee does not exercise the vested portion of the Grantee’s Award within the time specified herein, the Award shall terminate.

 

(e)            Death
of Grantee. In the event of a termination of the Grantee’s Continuous Service as a result of his or her death, or in the event
of the death of the Grantee during the post-termination exercise periods following the Grantee’s termination of Continuous Service
specified in this Section 8, above, the Grantee’s estate or a person who acquired the right to exercise the Award by bequest
or inheritance may exercise the portion of the Grantee’s Award that was vested as of the date of termination or such other portion
of the Grantee’s Award as may be determined by the Administrator, within twelve (12) months from the date of death (or such longer
or shorter period as specified in the Award Agreement but in no event later than the expiration of the term of such Award as set forth
in the Award Agreement). To the extent that, at the time of death, the Grantee’s Award was unvested, or if the Grantee’s estate
or a person who acquired the right to exercise the Award by bequest or inheritance does not exercise the vested portion of the Grantee’s
Award within the time specified herein, the Award shall terminate.

 

(f)            The
holder of an Option shall have none of the rights of a stockholder with respect to the Shares subject to the Option until such shares
are transferred to the holder (or the Trustee, if applicable) upon the exercise of the Option.

 

9.            Conditions
Upon Issuance of Shares.

 

(a)            If
at any time the Administrator determines that the delivery of Shares pursuant to the exercise, vesting or any other provision of an Award
is or may be unlawful under Applicable Laws, the vesting or right to exercise an Award or to otherwise receive Shares pursuant to the
terms of an Award shall be suspended until the Administrator determines that such delivery is lawful and shall be further subject to the
approval of counsel for the Company with respect to such compliance. The Company shall have no obligation to effect any registration or
qualification of the Shares under federal or state laws or other Applicable Laws.

 

(b)            As
a condition to the exercise of an Award, the Company may require the person exercising such Award make such representations and warranties
which, in the opinion of the Company, are required to ensure that such exercise, or a subsequent sale or disposition of any Shares obtained
upon such exercise, does not contravene any Applicable Law, including inter alia, representations and warranties 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 if,
in the opinion of counsel for the Company, such a representation is required by any Applicable Laws.

 

    11

    

    

 

(c)            Unless
otherwise set forth in an Award Agreement, Shares issued to a Grantee or the Trustee, as applicable, shall be subject to such restrictions
as required by the appropriate securities’ law and in the event that the Company's shares shall be registered for trading in any
public market, Grantee'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 Grantee by executing an Award Agreement unconditionally agrees and accepts any such limitations
and undertakes to further execute any agreement as may be requested by the Company or its underwriters from time to time.

 

10.            Adjustments
Upon Changes in Capitalization. Subject to any required action by the stockholders of the Company, the number of Shares covered by
each outstanding Award, and the number of Shares which have been authorized for issuance under the Plan but as to which no Awards have
yet been granted or which have been returned to the Plan, the exercise or purchase price of each such outstanding Award, the maximum number
of Shares with respect to which Awards may be granted to any Grantee in any calendar year, as well as any other terms that the Administrator
determines require adjustment shall be proportionately adjusted for (i) any increase or decrease in the number of issued Shares resulting
from a stock split, reverse stock split, stock dividend, combination or reclassification of the Shares, or similar transaction affecting
the Shares, (ii) any other increase or decrease in the number of issued Shares effected without receipt of consideration by the Company,
or (iii) any other transaction with respect to Common Stock including a corporate merger, consolidation, acquisition of property
or stock, separation (including a spin-off or other distribution of stock or property), reorganization, liquidation (whether partial or
complete) or any similar transaction; provided, however that conversion of any convertible securities of the Company shall not be deemed
to have been “effected without receipt of consideration.” In the event of any distribution of cash or other assets to stockholders
other than a normal cash dividend, the Administrator shall also make such adjustments as provided in this Section 10 or substitute,
exchange or grant Awards to effect such adjustments (collectively “adjustments”). Any such adjustments to outstanding Awards
will be effected in a manner that precludes the enlargement of rights and benefits under such Awards. In connection with the foregoing
adjustments, the Administrator may, in its discretion, prohibit the exercise of Awards or other issuance of Shares, cash or other consideration
pursuant to Awards during certain periods of time. Except as the Administrator determines, 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 hereof shall be made with respect
to, the number or price of Shares subject to an Award.

 

11.            Corporate
Transactions and Changes in Control.

 

(a)            Termination
of Award to Extent Not Assumed in Corporate Transaction. Effective upon the consummation of a Corporate Transaction, all outstanding
Awards under the Plan shall terminate. However, all such Awards shall not terminate to the extent they are Assumed in connection with
the Corporate Transaction.

 

(b)            Acceleration
of Award Upon Corporate Transaction or Change in Control.

 

(i)            Corporate
Transaction. Except as provided otherwise in an individual Award Agreement, in the event of a Corporate Transaction and:

 

(A)            for
the portion of each Award that is Assumed or Replaced, then such Award (if Assumed), the replacement Award (if Replaced), or the cash
incentive program (if Replaced) automatically shall become fully vested, exercisable and payable and be released from any repurchase or
forfeiture rights (other than repurchase rights exercisable at Fair Market Value) for all of the Shares (or other consideration) at the
time represented by such Assumed or Replaced portion of the Award, immediately upon termination of the Grantee’s Continuous Service
if such Continuous Service is terminated by the successor company or the Company without Cause within twelve (12) months after the Corporate
Transaction; and

 

(B)            for
the portion of each Award that is neither Assumed nor Replaced, such portion of the Award shall automatically become fully vested and
exercisable and be released from any repurchase or forfeiture rights (other than repurchase rights exercisable at Fair Market Value) for
all of the Shares (or other consideration) at the time represented by such portion of the Award, immediately prior to the specified effective
date of such Corporate Transaction, provided that the Grantee’s Continuous Service has not terminated prior to such date.

 

(ii)            Change
in Control. Except as provided otherwise in an individual Award Agreement, following a Change in Control (other than a Change in Control
which also is a Corporate Transaction) and upon the termination of the Continuous Service of a Grantee if such Continuous Service is terminated
by the Company or Related Entity without Cause within twelve (12) months after a Change in Control, each Award of such Grantee which is
at the time outstanding under the Plan automatically shall become fully vested and exercisable and be released from any repurchase or
forfeiture rights (other than repurchase rights exercisable at Fair Market Value), immediately upon the termination of such Continuous
Service.

 

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(c)            Effect
of Acceleration on Incentive Stock Options. Any Incentive Stock Option accelerated under this Section ‎11 in connection with
a Corporate Transaction or Change in Control shall remain exercisable as an Incentive Stock Option under the Code only to the extent the
$100,000 dollar limitation of Section 422(d) of the Code is not exceeded.

 

12.            Effective
Date and Term of Plan. The Plan shall become effective upon the earlier to occur of its adoption by the Board or its approval by the
stockholders of the Company. It shall continue in effect until December 31, 2028 unless sooner terminated. Subject to Section ‎17,
below, and Applicable Laws, Awards may be granted under the Plan upon its becoming effective.

 

13.            Amendment,
Suspension or Termination of the Plan.

 

(a)            The
Board may at any time amend, suspend or terminate the Plan; provided, however, that no such amendment shall be made without the approval
of the Company’s stockholders to the extent such approval is required by Applicable Laws, or if such amendment would lessen the
stockholder approval requirements of Section 4(b)(vi) or this Section 13(a).

 

(b)            No
Award may be granted during any suspension of the Plan or after termination of the Plan.

 

(c)            No
suspension or termination of the Plan (including termination of the Plan under Section ‎11, above) shall adversely affect any
rights under Awards already granted to a Grantee.

 

14.            Reservation
of Shares.

 

(a)            The
Company, during the term of the Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to satisfy
the requirements of the Plan.

 

(b)            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 and sale 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.

 

15.            No
Effect on Terms of Employment/Consulting Relationship. The Plan shall not confer upon any Grantee any right with respect to the Grantee’s
Continuous Service, nor shall it interfere in any way with his or her right or the right of the Company or any Related Entity to terminate
the Grantee’s Continuous Service at any time, with or without cause, including but not limited to, Cause, and with or without notice.
The ability of the Company or any Related Entity to terminate the employment of a Grantee who is employed at will is in no way affected
by its determination that the Grantee’s Continuous Service has been terminated for Cause for the purposes of this Plan.

 

16.            No
Effect on Retirement and Other Benefit Plans. Except as specifically provided in a retirement or other benefit plan of the Company
or a Related Entity, Awards shall not be deemed compensation for purposes of computing benefits or contributions under any retirement
plan of the Company or a Related Entity, and shall not affect any benefits under any other benefit plan of any kind or any benefit plan
subsequently instituted under which the availability or amount of benefits is related to level of compensation. The Plan is not a “Pension
Plan” or “Welfare Plan” under the Employee Retirement Income Security Act of 1974, as amended.

 

17.            Stockholder
Approval. The grant of Incentive Stock Options under the Plan shall be subject to approval by the stockholders of the Company within
twelve (12) months before or after the date the Plan is adopted excluding Incentive Stock Options issued in substitution for outstanding
Incentive Stock Options pursuant to Section 424(a) of the Code. Such stockholder approval shall be obtained in the degree and
manner required under Applicable Laws. The Administrator may grant Incentive Stock Options under the Plan prior to approval by the stockholders,
but until such approval is obtained, no such Incentive Stock Option shall be exercisable. In the event that stockholder approval is not
obtained within the twelve (12) month period provided above, all Incentive Stock Options previously granted under the Plan shall be exercisable
as Non-Qualified Stock Options.

 

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18.            Unfunded
Obligation. Grantees shall have the status of general unsecured creditors of the Company. Any amounts payable to Grantees pursuant
to the Plan shall be unfunded and unsecured obligations for all purposes, including, without limitation, Title I of the Employee
Retirement Income Security Act of 1974, as amended. Neither the Company nor any Related Entity shall be required to segregate any monies
from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall
retain at all times beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment
obligations hereunder. Any investments or the creation or maintenance of any trust or any Grantee account shall not create or constitute
a trust or fiduciary relationship between the Administrator, the Company or any Related Entity and a Grantee, or otherwise create any
vested or beneficial interest in any Grantee or the Grantee’s creditors in any assets of the Company or a Related Entity. The Grantees
shall have no claim against the Company or any Related Entity for any changes in the value of any assets that may be invested or reinvested
by the Company with respect to the Plan.

 

19.            Construction.
Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of the
Plan. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular.
Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise.

 

20.            Israeli
Grantees. This Section shall apply only to Israeli Grantees and is intended to enable the Company to grant Awards under the Plan
pursuant and subject to Section 102 and Section 3(I) of the Tax Ordinance. Accordingly, the Plan is designated to comply
with the Tax Ordinance and the rules, regulations and orders or procedures promulgated thereunder from time to time, as amended or replaced
from time to time and shall be submitted to the ITA as required thereunder.

 

In any case of contradiction, whether explicit or implied, between
the provisions of this Section and the Plan, the provisions set out in this Section shall prevail unless the Administrator decides
otherwise to ensure compliance with the Tax Ordinance and other Applicable Laws.

 

(a)            Eligibility.
102 Options may be granted only to Israeli Employees. Non-Employees may only be granted 3(I) Options. The grant of an Award hereunder
shall neither entitle the Grantee to participate nor disqualify the Israeli Grantee from participating in, any other grant of Awards pursuant
to the Plan or any other option or stock plan of the Company or any Related Company.

 

(b)            Grant
of Awards in Trust

 

(i)            Grants
Made Under Section 102.

 

The Company may designate 102 Options as Trustee
102 Options or Non-Trustee 102 Options. The designation of Non-Trustee 102 Options and Trustee 102 Options shall be subject to the terms
and conditions set forth in Section 102 of the Tax Ordinance and the regulations promulgated thereunder.

 

(ii)            Grant
of Trustee 102 Options.

 

(1) The grant of the Trustee 102 Options shall
be made under the Plan and shall be conditional upon the approval of the Plan by the ITA. Trustee 102 Options may be granted at any time
after the passage of thirty (30) days following the delivery by the Company to the ITA of a notice pertaining to the appointment of the
Trustee and the adoption of the Plan, unless otherwise determined by the ITA. Options which shall be granted pursuant to Section 102
and/or any Shares issued upon exercise of such Options and/or other shares received subsequently following any realization of rights,
shall be issued to the Trustee. Each Israeli Grantee in respect of whom a Trustee 102 Option is granted and held in trust by the Trustee
shall be referred to as a “beneficial optionee” hereunder.

 

(2) Trustee 102 Option(s) may either be
classified as Capital Gain Option(s) or Ordinary Income Option(s):

 

(A)            Trustee
102 Option(s) elected and designated by the Company to qualify under the capital gain tax treatment in accordance with the provisions
of Section 102(b)(2) shall be referred to herein as “Capital Gain Option(s)” or “CGO”.

 

(B)            Trustee
102 Option(s) elected and designated by the Company to qualify under the ordinary income tax treatment in accordance with the provisions
of Section 102(b)(1) shall be referred to herein as “Ordinary Income Option(s)” or “OIO”.

 

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(3) The Company’s election of the type
of Trustee 102 Options as CGO or OIO granted to Employees (the “Election”) shall be appropriately filed with the ITA 30 days
before the date of grant of a Trustee 102 Option, unless otherwise determined by the ITA. Such Election shall become effective beginning
the first date of grant of a Trustee 102 Option under this Plan and shall remain in effect until the end of the year following the year
during which the Company first granted Trustee 102 Options. The Election shall obligate the Company to grant only the type of Trustee
102 Option it has elected, and shall apply to all Israeli Grantees who were granted Trustee 102 Options during the period indicated herein
or therein, all in accordance with the provisions of Section 102(g) of the Tax Ordinance. Notwithstanding, such Election shall
not prevent the Company from granting Non-Trustee 102 Options simultaneously.

 

(4) All Trustee 102 Options must be held in
trust by and issued on the name of the Trustee, as described below.

 

(5) With respect to Trustee 102 Options, the
provisions of the Plan and/or an Award Agreement shall be subject to the provisions of Section 102 and the ITA’s permit, and
the said provisions and permit shall be deemed an integral part of this Section and of the Award Agreement for the respective Grantees
thereof. Any provision of Section 102 and/or the said permit which is necessary in order to receive and/or to keep any tax benefit
pursuant to Section 102, which is not expressly specified in the Plan or the Award Agreement, shall be considered binding upon the
Company and the Israeli Grantee.

 

(iii)           Issuance
to Trustee.

 

(1) All Trustee 102 Options granted under the
Plan and/or any Shares allocated or issued upon exercise of such Trustee 102 Options and/or other and all rights deriving from or in connection
therewith, including, without limitation, in accordance with Section 10 above or any bonus shares or stock dividends issued in connection
therewith shall be granted by the Company to the Trustee, and the Trustee shall hold each such Trustee 102 Option and the Shares issued
upon exercise thereof in trust for such period of time as required by Section 102 or any regulations, rules or orders or procedures
promulgated thereunder (the “Holding Period”), for the benefit of the Grantees in respect of whom such Trustee 102 Option
was granted. All certificates representing Shares issued to the Trustee under the Plan shall be deposited with the Trustee, and shall
be held by the Trustee until such time that such Shares are released from the Trust as herein provided.

 

(2) In event the requirements for Trustee 102
Options are not met for any reason whatsoever, then the Trustee 102 Options may be treated as Non-Trustee 102 Options, all in accordance
with the provisions of Section 102 and regulations promulgated thereunder.

 

(3) With respect to any Trustee 102 Option,
subject to the provisions of Section 102 and any rules or regulations or orders or procedures promulgated thereunder, an Israeli
Grantee shall not be entitled to sell or release from Trust the Trustee 102 Option, the Shares received upon the exercise of such Option
and/or any right deriving from or in connection therewith, including, without limitation, in accordance with Section 10 above or
any bonus shares or stock dividends issued in connection therewith, until the later of: (i) the lapse of the Holding Period required
under Section 102, and (ii) the vesting of such Options set forth in the respective Award Agreement (such later date being hereinafter
referred to as the “Release Date”). Notwithstanding the foregoing, if such sale or release occurs during the Holding period,
the provisions of Section 102 and the rules or regulations promulgated thereunder shall apply and any expenses and/or tax consequences
therefrom shall be borne by the Israeli Grantee.

 

(4) Subject to the terms hereof, at any time
after the Release Date with respect to any Trustee 102 Options or Shares the following shall apply:

 

(A)            Trustee
102 Options granted, and/or Shares or rights issued to the Trustee shall continue to be held by the Trustee, on behalf of the beneficial
optionee. From and after the Release Date, upon the written request of any beneficial optionee, the Trustee shall release from the Trust
the Trustee 102 Options granted, and/or the Shares or rights issued, on behalf of such beneficial optionee, by executing and delivering
to the Company such instrument(s) as the Company may require, giving due notice of such release to such beneficial optionee, provided,
however, that the Trustee shall not so release any such Trustee 102 Options and/or Shares and/or rights to such beneficial optionee unless
the latter, prior to, or concurrently with, such release, provides the Trustee with evidence, satisfactory in form and substance to the
Trustee, that all taxes, if any, required to be paid upon such release have, in fact, been paid.

 

    15

    

    

 

(B)            Alternatively,
from and after the Release Date, upon the written instructions of the beneficial optionee to sell any Shares and rights issued upon exercise
of Trustee 102 Options, the Trustee shall use its best efforts to effect such sale and shall transfer such Shares to the purchaser thereof
concurrently with the receipt, or after having made suitable arrangements to secure the payment, of the purchase price in such transactions.
The Trustee shall withhold from such proceeds any and all taxes required to be paid in respect of such sale, shall remit the amount so
withheld to the appropriate tax authorities and shall pay the balance thereof directly to the beneficial optionee, reporting to such beneficial
optionee and to the Company the amount so withheld and paid to said authorities.

 

(C)            Notwithstanding
the foregoing, in the event the underwriters of securities of the Company impose restrictions on the transferability of the Shares during
a lock-up period, the beneficial optionee shall not be entitled to release from Trust the Trustee 102 Options granted and/or the Shares
issued and/or to instruct the Trustee to effect a sale of same, for as long as the restrictions are in effect. In the event the Trustee
102 Options granted and/or the Shares issued have been released from trust the restrictions imposed on the transferability of same shall
nevertheless apply to said optionee’s Trustee 102 Options and/or Shares in the same manner. Consequently, the Israeli Grantee shall
sign any documents required in order to effect the restrictions, for as long as the restrictions are in effect.

 

(D)            Upon
receipt of the Award, the Israeli Grantee will sign an undertaking to release the Trustee from any liability in respect of any action
or decision duly taken and bona fide executed in relation with the Plan, or any Option or Share or rights granted to same thereunder.
The Trustee may establish additional terms and conditions in connection with Awards held in trust by the Trustee.

 

(iv)          Grant
of Non-Trustee 102 Options

 

(1) Awards granted pursuant to this subsection
are intended to constitute Non-Trustee 102 Options and shall be subject to the general terms and conditions of the Plan and Section 20,
except for provisions of the Plan applying to Trustee 102 Awards or Options under a different tax law or regulation.

 

(2) With respect to Non-Trustee 102 Options,
if the Grantee ceases to be employed by or of service to the Company or a Related Company, the Grantee may be required to extend to the
Company a security or guarantee for the payment of tax due at the time of sale of Shares or other rights, all in accordance with the provisions
of Section 102 and the rules, regulation or orders promulgated thereunder.

 

(v)            Grants
Made Under Section 3(I). Awards granted pursuant to this subsection are intended to constitute 3(I) Options and shall be
subject to the general terms and conditions of the Plan and Section 20 thereof, except for said provisions of the Plan applying to
Awards under a different tax law or regulation. The Administrator may choose to deposit the Awards granted pursuant to Section 3(I) of
the Tax Ordinance with a trustee. In such event, said trustee shall hold such Option in trust, until exercised by the Grantee, pursuant
to the Company's instructions from time to time. If determined by the Administrator, the trustee shall be responsible for withholding
any taxes to which a Grantee become liable upon the exercise of Options.

 

(c)            Award
Agreement. Without derogating from the powers of the Administrator under the Plan, the Administrator shall adopt the form of Award
Agreement for Israeli Grantees in form acceptable by the ITA and in compliance with the Tax Ordinance. The Award Agreement shall further
indicate the type of Options (102, 3(I), Trustee, Non-Trustee etc.) granted thereunder.

 

(d)            Vesting.
Without derogating from the terms of any Award Agreement or the discretionary authority of the Administrator, the standard vesting for
Options to Israeli Grantees shall be as follows:

 

(i)            Twenty
five percent (25%) of the Options granted under each Award Agreement shall vest on the end of the first year of Continuous Service following
the vesting commencement date determined by the Administrator and if not specified the date of the grant of an Option (the “First
Anniversary”); and

 

(ii)            The
remaining 75% of the Options shall vest on a quarterly basis over a period of three years commencing as of the First Anniversary in twelve
(12) equal portions subject to Continuous Service of the Grantee.

 

    16

    

    

 

(e)            With
respect to all Shares (in contrast to unexercised Options) allocated or issued upon the exercise of Options by the Israeli Grantee, the
Grantee shall be entitled to receive dividends in accordance with the quantity of such Shares, subject however to any applicable taxation
on distribution of dividends. Subject to the Tax Ordinance and any restrictions imposed by the Trustee or the ITA, during the period in
which Shares are held by the Trustee on behalf of the Israeli Grantee, the cash dividends paid with respect thereto shall be paid directly
to the Grantee after deduction of withholding tax applicable thereto.

 

(f)            Without
derogating from anything in the Plan, to the extent permitted by Applicable Laws, any tax consequences, attributable to the Israeli Grantee,
arising from the grant or exercise of any Option, from the payment for Shares covered thereby or from any other event or act (of the Company,
a Related Company, the Trustee or the Grantee), hereunder, shall be borne solely by the Grantee. The Company and/or or a Related 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, to the extent permitted by Applicable Law, the Grantee shall agree to indemnify the Company and/or a Related
Company and/or the Trustee 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 from any payment made
to the Grantee. The Administrator and/or the Trustee shall not be required to release any Share certificate to a Grantee until all required
payments have been fully made.

 

The Plan, to the extent applicable to Israeli Grantees, shall be governed
by and construed and enforced in accordance with the laws of the State of Israel applicable to contracts made and to be performed therein,
without giving effect to the principles of conflict of laws. The competent courts of Tel-Aviv, Israel shall have sole jurisdiction
in any matters pertaining to Israeli Grantees.

 

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