Document:

Exhibit 10.2

 

SHARE EXCHANGE AGREEMENT

 

THIS SHARE EXCHANGE
AGREEMENT, dated as of March 11, 2020 (the “Agreement”), is made by and among ALE Group Holding Limited
(the “ALEGH”), all of the individuals listed on the signature page (the “Shareholders”)
who collectively own all the issued and outstanding shares of ALE (BVI) Limited (“ALE BVI”), a company
incorporated in British Virgin Islands (individually a “Party” or collectively “Parties”).

 

RECITALS

 

WHEREAS,
each Shareholders is a shareholder of ALE BVI as listed on Schedule A;

 

WHEREAS,
ALEGH was formed solely for the purpose of serving as the holding company for ALE BVI;

 

WHEREAS,
the Shareholders desire to exchange their equity interest in ALE BVI for ordinary shares of ALEGH, and ALEGH has agreed to issue
its ordinary shares in connection with such exchange, upon the terms and conditions set forth in this Agreement;

 

WHEREAS,
for United States federal income tax purposes, it is intended that the Exchange (as defined below) will qualify as an exchange
under the provisions of Section 351(a) of the Code.

 

WHEREAS,
following the Exchange (as defined below), ALE BVI will become a wholly-owned subsidiary of ALEGH.

 

NOW, THEREFORE,
for and in consideration of the foregoing premises, the mutual covenants and agreements contained herein, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties, intending to be legally bound,
hereby agree as follows:

 

SECTION I

EXCHANGE OF SHARES

 

1.1 On
the terms and subject to the conditions set forth in this Agreement, at the Closing (i) Shareholders will sell, convey, transfer
and assign to ALEGH, free and clear of all liens, pledges, encumbrances, changes, restrictions or known claims of any kind, nature
or description, and ALEGH will purchase and accept from Shareholders, 100% of the equity interest of ALE BVI (the “ALE
BVI Shares”), in the individual percentages as set forth on Schedule A, and (ii) in exchange for
the transfer of such securities by the Shareholders, ALEGH will sell, convey, transfer and assign to Shareholders, and Shareholders
will purchase and accept from ALEGH, Ten Thousand (10,000) newly-issued ordinary shares of ALEGH, par value $1.00 per
share, in the aggregate (the “ALEGH Shares”), in the individual amounts as set forth on Schedule
A (such exchange referred to herein as the “Exchange”). Upon completion of the Exchange, 100%
of the equity interest of ALE BVI shall be held directly by ALEGH.

 

1.2 The
closing of the Exchange shall occur on the date of this Agreement at the offices of ALEGH, Vistra Corporate Services Centre, Wickham
Cay II, Road Town, Tortola, VG1110, or at such other date, time and place or manner as may be agreed upon by the parties.

 

SECTION II

SHAREHOLDERS REPRESENTATIONS AND

WARRANTIES.

 

Each Shareholder severally, and not jointly,
hereby represents and warrants to ALE BVI and ALEGH, all of which representations and warranties are true, complete, and correct
in all respects as of the date hereof and will be as of the Closing, as follows:

 

2.1 Such
Shareholder has the right, power, legal capacity and authority to enter into and perform such Shareholder’s obligations under
this Agreement; and no approvals or consents are necessary in connection with it. All of the ordinary shares of ALE BVI owned by
such Shareholder are owned free and clear of all liens, pledges, encumbrances, changes, restrictions or known claims of any kind,
nature or description.

 

    1

     

    

 

2.2 The
equity interest of ALE BVI owned by such Shareholder will, at the Closing, be validly transferred to ALEGH free and clear of any
encumbrances and from all taxes, liens and charges with respect to the transfer thereof and such ordinary shares of ALE BVI shall
be fully paid and non-assessable with the holder being entitled to all rights accorded to a holder of ordinary shares of ALE BVI.

 

2.3 Each
such Shareholder understands that the ALEGH Shares have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”) or any other applicable securities laws. Each such Shareholder also understands that the ALEGH Shares are being
offered and issued pursuant to an exemption from the registration requirements of the Securities Act, under Section 4(2) and/or
Regulation S of the Securities Act. Each such Shareholder acknowledges that ALEGH will rely on such Shareholder’s representations,
warranties and certifications set forth below for purposes of determining such Shareholder’s suitability as an investor in
the ALEGH Shares and for purposes of confirming the availability of the Section 4(2) and/or Regulation S exemption from the
registration requirements of the Securities Act.

 

2.4 Each
such Shareholder has received all the information such Shareholder considers necessary or appropriate for deciding whether to acquire
the ALEGH Shares. Each such Shareholder understands the risks involved in an investment in the ALEGH Shares. Each such Shareholder
further represents that such Shareholder has had an opportunity to ask questions and receive answers from ALEGH regarding the terms
and conditions of the offering of the ALEGH Shares and the business, properties, prospects, and financial condition of ALEGH and
to obtain such additional information (to the extent ALEGH possessed such information or could acquire it without unreasonable
effort or expense) necessary to verify the accuracy of any information furnished to such Shareholder or to which such Shareholder
had access.

 

2.5 Each
such Shareholder is acquiring the ALEGH Shares for such Shareholder’s own account for investment only and not with a view
towards their resale or “distribution” (within the meaning of the Securities Act) of any part of the ALEGH Shares.

 

2.6 Each
such Shareholder understands that the ALEGH Shares may not be offered, sold or otherwise transferred except in compliance with
the registration requirements of the Securities Act and any other applicable securities laws or pursuant to an exemption therefrom,
and in each case in compliance with the conditions set forth in this Agreement. Each such Shareholder acknowledges and is aware
that the ALEGH Shares may not be sold pursuant to Rule 144 adopted under the Securities Act unless certain conditions are met and
until such Shareholder has held the ALEGH Shares for the applicable holding period under Rule 144.

 

2.7 Each
such Shareholder acknowledges and agrees that each certificate representing the ALEGH Shares shall bear a legend substantially
in the following form:

 

“THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR ANY STATE
SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES FOR THE BENEFIT OF ALE GROUP HOLDING LIMITED (THE “COMPANY”)
THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) TO THE COMPANY, (B) PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE 1933 ACT AND IN COMPLIANCE WITH ANY APPLICABLE LOCAL SECURITIES LAWS AND REGULATIONS, (C) OUTSIDE
THE UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE 1933 ACT AND IN COMPLIANCE WITH ANY APPLICABLE LOCAL SECURITIES
LAWS AND REGULATIONS, (D) IN COMPLIANCE WITH THE EXEMPTION FROM REGISTRATION UNDER THE 1933 ACT PROVIDED BY RULE 144 THEREUNDER,
IF AVAILABLE, AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS OR (E) IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION
UNDER THE 1933 ACT AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS, PROVIDED THAT, IN THE CASE OF (C), (D) OR (E),
THE HOLDER HAS DELIVERED TO THE COMPANY AND THE REGISTRAR AND TRANSFER AGENT AN OPINION OF COUNSEL OF RECOGNIZED STANDING IN FORM
AND SUBSTANCE REASONABLY SATISFACTORY TO THE COMPANY AND THE REGISTRAR AND TRANSFER AGENT TO SUCH EFFECT. HEDGING TRANSACTIONS
INVOLVING THE SECURITIES ARE PROHIBITED EXCEPT IN COMPLIANCE WITH THE 1933 ACT”

 

    2

     

    

 

2.8 Each
such Shareholder has not relied on and is not relying on any representations, warranties or other assurances regarding ALEGH other
than the representations and warranties expressly set forth in this Agreement.

 

SECTION III

ALE BVI REPRESENTATIONS AND

WARRANTIES.

 

ALE BVI hereby represents
and warrants to Shareholders and ALEGH, all of which representations and warranties are true, complete, and correct in all respects
as of the date hereof and will be as of the Closing, as follows:

 

3.1 
ALE BVI is a company formed in British Virgin Islands and duly organized, validly existing and in good standing under the laws
of the jurisdiction of its incorporation.

 

3.2 ALE
BVI has full power and authority to enter into and perform its obligations under this Agreement. This Agreement has been duly executed
by ALE BVI and constitutes the legal, valid, binding and enforceable obligation of ALE BVI, enforceable against ALE BVI in accordance
with its terms. The execution and delivery of this Agreement and the consummation by ALE BVI of the transactions contemplated herein
do not and will not on the Closing (A) conflict with or violate any of the terms of the articles of incorporation and bylaws
of ALE BVI or any applicable law relating to ALE BVI, (B) conflict with, or result in a breach of any of the terms of, or
result in the acceleration of any indebtedness or obligations under, any material agreement, obligation or instrument by which
ALE BVI is bound or to which any property of ALE BVI is subject, or constitute a default thereunder, other than those material
agreements, obligations or instruments for which ALE BVI has obtained consent for the transactions contemplated under this Agreement,
(C) result in the creation or imposition of any lien on any of the assets of ALE BVI, (D) constitute an event permitting
termination of any material agreement or instrument to which ALE BVI is a party or by which any property or asset of ALE BVI is
bound or affected, pursuant to the terms of such agreement or instrument, other than those material agreements or instruments for
which ALE BVI has obtained consent for the transactions contemplated under this Agreement, or (E) conflict with, or result
in or constitute a default under or breach or violation of or grounds for termination of, any license, permit or other governmental
authorization to which ALE BVI is a party or by which ALE BVI may be bound, or result in the violation by ALE BVI of any laws to
which ALE BVI may be subject, which would materially adversely affect the transactions contemplated herein. No authorization, consent
or approval of, notice to, or filing with, any public body or governmental authority or any other person is necessary or required
in connection with the execution and delivery by ALE BVI of this Agreement or the performance by ALE BVI of its obligations hereunder.

 

3.3 The
ALE BVI Shares constitute all of the equity interests of ALE BVI. No securities of ALE BVI are entitled to pre-emptive or similar
rights, and no person has any right of first refusal, pre-emptive right, right of participation, or any similar right to participate
in the transactions contemplated by this Agreement. There are no outstanding options, warrants, rights to subscribe to, calls or
commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exchangeable for,
or giving any person any right to subscribe for or acquire, equity interests of ALE BVI. The issuance of ALE BVI Shares contemplated
by this Agreement will not, immediately or with the passage of time; (A) obligate ALE BVI to issue equity interests of ALE
BVI or other securities to any person, or (B) result in a right of any holder of ALE BVI securities to adjust the exercise,
conversion, exchange or reset price of such securities.

 

 

    3

     

    

 

SECTION IV

 ALEGH REPRESENTATIONS AND WARRANTIES.

 

ALEGH hereby acknowledges, represents and
warrants to, and agrees with the Shareholder and ALE BVI (which representations and warranties will be true and correct as of the
date of the Closing as if they were made on the date of Closing) as follows:

 

4.1 ALEGH
has been duly organized, is validly existing and is in good standing under the laws of British Virgin Islands. ALEGH has full corporate
power and authority to enter into this Agreement and this Agreement, has been duly and validly authorized, executed and delivered
by ALEGH and are valid and binding obligations of ALEGH, enforceable against ALEGH in accordance with their terms.

 

4.2 Subject
to the performance by the Shareholder and ALE BVI of their respective obligations under this Agreement and the accuracy of the
representations and warranties of the Shareholder and ALE BVI, the offering and exchange of the ALEGH Shares will be exempt from
the registration requirements of the Securities Act.

 

4.3 The
execution and delivery by ALEGH of, and the performance by ALEGH of its obligations hereunder in accordance with its terms will
not contravene any provision of the charter documents of ALEGH.

 

4.4 The
ALEGH Shares have been duly authorized and, when issued and delivered as provided by this Agreement, will be validly issued and
fully paid and non-assessable, and the ALEGH Shares are not subject to any preemptive or similar rights.

 

4.5 ALEGH
is not in violation of its memorandum of association or articles of association and is not in material default in the performance
of any bond, debenture, note or any other evidence of indebtedness or any indenture, mortgage, deed of trust, license, contract,
lease or other instrument to which ALEGH is a party or by which it is bound, or to which any of the property or assets of ALEGH
is subject, except such as have been waived or which would not, singly or in the aggregate, prevent ALEGH from discharging its
obligations under this Agreement.

 

SECTION V

GENERAL PROVISIONS

 

5.1 Releases
and Waivers of Shareholders. Each Shareholder on its own behalf hereby acknowledges and agrees that the percentage of ALE
BVI Shares set forth on Schedule A represents the entire ALE BVI Shares held by such Shareholder as of the date of this Agreement
and as of the Closing. Each Shareholder hereby releases ALEGH from all obligations, liabilities and causes of action arising before,
on or after the date of this Agreement, out of or in relation to any entitlement which such Shareholder may have with respect to
any ALE BVI Shares in excess of the number of ALE BVI Shares set forth on Schedule A. Each Shareholder hereby generally, irrevocably,
unconditionally and completely waives any and all rights to receive any anti-dilution protection to which such Shareholder may
be entitled under the articles of incorporation, bylaws or other organizational documents of ALE BVI or under any other agreement
or instrument in connection with the Exchange. Except for the ALEGH Shares to be issued in connection with the Exchange, each Shareholder
hereby generally, irrevocably, unconditionally and completely waives any and all rights existing as of the date hereof to receive
options, depository receipts, warrants, stock appreciation or similar rights to acquire or receive securities in ALE BVI or ALEGH.

 

5.2 Survival. All
representations, warranties, covenants, and obligations in this Agreement shall survive until the expiration of the applicable
statute of limitation with respect to the underlying claim to which such representation, warranty, covenant, or obligation relates.

 

5.3 Written
Changes. Neither this Agreement nor any provision hereof may be changed, waived, discharged or terminated orally,
except by a statement in writing signed by the Party against which enforcement of the change, waiver, discharge or termination
is sought.

 

    4

     

    

 

5.4 Delays
or Omissions. Except as expressly provided herein, no delay or omission to exercise any right, power or remedy
accruing to any party under this Agreement shall impair any such right, power or remedy of such party nor shall it be construed
to be a waiver of any such breach or default, or an acquiescence thereto, or of a similar breach or default thereafter occurring;
nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter
occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party hereto of any breach
or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must
be in writing and shall be effective only to the extent specifically set forth in such writing.

 

5.5 Entire
Agreement. This Agreement constitutes the entire understanding and agreement of the Parties with respect to
the subject matter hereof and supersedes all prior and contemporaneous agreements or understandings, inducements or conditions,
express or implied, written or oral, between the Parties with respect hereto. The express terms hereof control and supersede
any course of performance or usage of the trade inconsistent with any of the terms hereof.

 

5.6 Severability. Should
any one or more of the provisions of this Agreement or of any agreement entered into pursuant to this Agreement be determined to
be illegal or unenforceable, all other provisions of this Agreement and of each other agreement entered into pursuant to this Agreement,
shall be given effect separately from the provision or provisions determined to be illegal or unenforceable and shall not be affected
thereby. The Parties further agree to replace such void or unenforceable provision of this Agreement with a valid and
enforceable provision which will achieve, to the extent possible, the economic, business and other purposes of the void or unenforceable
provision.

 

5.7 Successors
and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon and be enforceable
by the successors and assigns of the Parties.

 

5.8 Governing
Law. The validity, terms, performance and enforcement of this Agreement shall be governed and construed by the
provisions hereof and in accordance with the laws of the State of New York applicable to agreements that are negotiated, executed,
delivered and performed in the State of New York.

 

5.9 Counterparts. This
Agreement may be executed concurrently in two or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument and shall become effective when counterparts have been signed by each Party
and delivered to the other Party.

 

5.10 Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things,
and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably
request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions
contemplated hereby.

 

5.11 Third
Party Beneficiaries. Nothing expressed or implied in this Agreement is intended, or shall be construed, to confer
upon or give any person other than the Parties any rights or remedies under or by reason of this Agreement.

 

4.12 Headings. The
headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this Agreement.

 

[SIGNATURE PAGES TO FOLLOW]

 

    5

     

    

 

IN WITNESS WHEREOF, the parties have executed and delivered
this Share Exchange Agreement as of the date first written above.

 

	ALE BVI 	 	ALEGH:
	 	 	 	 
	ALE (BVI) Limited	 	ALE Group Holding Limited 
	 	 	 
	By:	/s/
Yip Wai Man Raymond	 	By:	/s/
Yip Wai Man Raymond
	Name:	Yip Wai Man Raymond	 	Name:	YIP Wai Man Raymond
	Its:	Director	 	Its:	Director 

 

The Shareholders:

 

	/s/
CHENG Man Kit	 

CHENG Man Kit

 

 

	/s/
POON Tak Ching	 

POON Tak Ching

 

 

	/s/
LEUNG Chung Yin Avan	 

LEUNG Chung Yin Avan

 

 

	/s/
LOK Sau Fung	 

LOK Sau Fung

 

 

	/s/
LEUNG Hok Yin Ajax	 

LEUNG Hok Yin Ajax

 

 

	/s/
CHAN Tsz Kin	 

CHAN Tsz Kin

 

 

	/s/
HO Shu Ming	 

HO Shu Ming

 

 

	/s/
YIP Wai Man Raymond	 

YIP Wai Man Raymond

 

    6

     

    

 

SCHEDULE
A

 

 

 

 

 

 

 

 

 

7Exhibit 10.2

    

     

    

    
      ReWalk Robotics Ltd.

       

      Compensation Policy for Executive Officers and Non-Executive Directors

       

      1.            Preamble

       

      This document states the terms of the ReWalk Robotics Ltd. ("ReWalk") compensation policy for its Executive Officers and Directors (the "Compensation Policy").

       

      The Compensation Policy is designed to motivate our Executive Officers to drive ReWalk's business and financial long term goals and to reward significantly on sustainable performance over the long
        term. Accordingly, the structure of ReWalk's Compensation Policy ties the compensation for each Executive Officer, to ReWalk's financial and strategic long term goals and achievements.

       

      For purposes of this Compensation Policy, “Executive Officers” shall mean "Office Holders" as such term is defined in the Israeli Companies Law, 5759-1999 (as may be amended from time to time) (the "Companies Law"), excluding, unless otherwise expressly indicated, the non-executive members of ReWalk's board of directors (the "Board").

       

      The effective date of this Compensation Policy is the date of its approval by ReWalks’s shareholders. This Compensation Policy will apply to any compensation determined after its effective date and
        will not, and is not intended to, apply to or deemed to amend employment and compensation terms of Executive Officers existing prior to such date.

       

      The adoption of this Compensation Policy will not grant any of ReWalks’s Executive Officers a right to receive any elements of compensation set forth in this Compensation Policy. The elements of
        compensation to which an Executive Officer will be entitled will be exclusively those that are determined specifically in relation to him or her in accordance with the requirements of the Companies Law, and the regulations promulgated thereunder.

       

      2.            Compensation policy goals

       

      ReWalk’s goals in setting the Compensation Policy for the Executive Officers is to attract, motivate and retain highly experienced personnel who will provide leadership for ReWalk’s success and
        enhance stockholder value, and to promote for each Executive Officer an opportunity to advance in a growing organization. The primary goals of the Compensation Policy are, therefore:

       

      2.1          Pay for performance

       

      To closely align the interests of the Executive Officers with those of ReWalk’s stockholders in order to enhance stockholder value;

       

      To offer a collaborative workplace environment where each Executive Officer has the opportunity to impact ReWalk’s long-term success;

       

      To provide increased rewards for superior individual and corporate performance, and substantially reduced or no rewards for average or inadequate performance.

       

      2.2          Risk management

       

      To ensure that while a significant portion of each Executive Officer’s total compensation is at risk and tied to the achievement of financial, corporate, functional performance and other goals
        established by the Board, overall risk taking is managed and maintained;

       

      
        To minimize any personal incentives for taking high-risks that might potentially imperil the underlying value of ReWalk.

      

      
        
          

      

      3.            Compensation elements

       

      ReWalk aims to provide its Executive Officers with a structured compensation package, including competitive salaries and benefits, performance-motivating cash payout and equity incentive programs.
        ReWalk's Executive Officers' compensation package may be composed of the following elements:

       

      3.1         Base salary;

       

      3.2         Benefits and perquisites;

       

      3.3         Cash bonus;

       

      3.4         Equity compensation; and

       

      3.5         Retirement and termination of service arrangements.

       

      4.            Base Salary

       

      	

            	4.1	
              A competitive base salary is essential to ReWalk's ability to attract and retain highly skilled professionals in the long term. The base salary will vary between Executive Officers, and will be individually determined according to their
                performance, educational background, prior business experiences, aptitude, qualifications, role, personal responsibilities and taking into account external salary benchmarking for the specific role using a peer-group of companies.
                Therefore, ReWalk seeks to establish such base salary which will allow it to compete for, and retain, senior executive talent worldwide.

            

       

      To that end, the peer-group companies will be selected and approved by ReWalk's compensation committee, according to part or all of the following characteristics:

       

      Companies that are direct competitors of ReWalk;

       

      Companies with a similar revenue turnover as that of ReWalk;

       

      Companies with a similar market cap as that of the ReWalk;

       

      Companies that compete with ReWalk for executive talent;

       

      Geographical considerations.

       

      	

            	4.2	
              In the event that the services of the Executive Officer are provided via a personal management company and not by the Executive Officer directly as an employee of ReWalk, the fees paid to such personal management company shall reflect,
                to the extent determined by ReWalk in the applicable service agreement, the base salary and the benefits and perquisites (plus applicable taxes such as Value Added Tax), in accordance with the guidelines of the Compensation Policy.

            

       

      	

            	4.3	
              In addition, Executive Officers may be awarded a fixed one-time cash payment upon recruitment or promotion.

            

       

      
        
          

      

      5.            Benefits and perquisites

       

      Benefits and perquisites for ReWalk's Executive Officers will be comparable to customary competitive market entitlements. Certain benefits and perquisites are set forth in
        order to comply with legal requirements, while others serve as an additional component of the Executive Officer compensation package to attract and retain highly skilled professionals at ReWalk.

       

      	

            	5.1	
              Benefits and perquisites which are required or facilitated under local laws or customary in the relevant jurisdiction may include, inter alia, the following:

            

       

      	

            	5.1.1	
              Vacation of up to 30 days per annum;

            

       

      	

            	5.1.2	
              Sick days of up to 30 days per annum (or as required by law);

            

       

      	

            	5.1.3	
              Annual convalescence pay as required by law;

            

       

      	

            	5.1.4	
              Payments to pension funds or other types of pension schemes (e.g. managers' insurance programs, 401K plans in the US);

            

       

      	

            	5.1.5	
              Disability Insurance;

            

       

      	

            	5.1.6	
              Payments to an advanced study fund as afforded by law;

            

       

      	

            	5.1.7	
              Housing (in relevant markets);

            

       

      	

            	5.1.8	
              Travel and/or car allowances and/or company car;

            

       

      	

            	5.1.9	
              Health coverage plans and medical expenses.

            

       

      	

            	5.1.10	
              Relocation costs for Executive Officers (and their families) relocated by ReWalk.

            

       

      	

            	5.2	
              Such benefits and perquisites may vary depending on geographic location and other circumstances.

            

       

      	

            	5.3	
              In certain countries, the above benefits will be increased (when applicable) to meet statutory minimum levels.

            

       

      	

            	5.4	
              Additional benefits intend to complement cash compensation and offer non-monetary rewards to the Executive Officers, and may include, inter alia, the following benefits:

            

       

      	

            	5.4.1	
              Company cellular phone and related expenses;

            

       

      	

            	5.4.2	
              Communication equipment and related expenses;

            

       

      	

            	5.4.3	
              Company car and related expenses;

            

       

      	

            	5.4.4	
              Education allowances;

            

       

      	

            	5.4.5	
              Subscriptions to relevant literature.

            

       

      Such additional benefits will not surpass in value 20% of the base salary of any Executive Officer.

       

      6.             Retirement and termination of service arrangements

       

      Providing certain retirement and/or termination benefits, is designed to attract and motivate highly skilled professionals to join ReWalk and should also contribute in retaining its current Executive
        Officers.

       

      
        
          

      

      The retirement and termination of service arrangements, shall consider the circumstances of such retirement or termination, the term of service or employment of the Executive Officer, his/her
        compensation package during such period, ReWalk’s performance during such period and the Executive Officer's contribution to ReWalk achieving its goals and/or maximization of its profits.

       

      The retirement and/or termination benefits may include the following benefits:

       

      	

            	6.1	
              Advance notice - advance notice upon termination of employment for a certain period of time, which in any case will not exceed a term of 12 months. During such period of time, the Executive Officer may be required to continue his
                employment with ReWalk.

            

       

      	

            	6.2	
              Severance pay - as required or facilitated under local laws in the relevant jurisdiction.

            

       

      	

            	6.3	
              Transition period - Executive Officers may receive up to 12 months of base salary and benefits (i.e., excluding cash bonuses and Equity-based Awards as defined herein), taking into account the period of service or employment of
                the Executive Officer, his/her service and employment conditions in the course of such period, ReWalk's performance during such period, the contribution of the Executive Officer to the achievement of ReWalk's targets and profits and the
                circumstances of the termination of employment.

            

       

      	

            	6.4	
              Health insurance for US or other Executive Officers - payment for up to 12 months of post-termination health insurance upon termination of employment.

            

       

      7.             Cash Bonuses

       

      The cash bonus component aims to ensure that ReWalk's Executive Officers are aligned in achieving ReWalk's long-term strategic, business and financial objectives. Cash bonuses are, therefore,
        determined based on both the financial and business results of ReWalk, as well as individual performance. Cash bonuses are rewarded with distinguishable terms to the following Executive Officer populations:

       

      	

            	7.1	
              CEO

            

       

      	

            	7.1.1	
              The cash bonus will be based on achievement of milestones and targets and the measurable results of the Company, as may be compared to our budget  and work plan for the relevant year (the "Financial
                  Objectives"), and market development and product development objectives as determined by the Board on an annual basis (the “Business Objectives”). Such measurable criteria will initially be
                determined on or about the commencement of each fiscal year and may include (but are not limited to) the following factors:

            

       

      •          revenue;

       

      •          reimbursement;

       

      •          product development;

       

      •          cash management;

       

      •          efficiency metrics;

       

      •          Internal and external customer satisfaction; and

       

      •          execution of projects, etc.

       

      
        
          

      

      	

            	7.1.2	
              A portion of the cash bonus may be granted based on the evaluation of CEO's overall performance by the Compensation Committee and the Board.

            

       

      	

            	7.1.3	
              The annual cash bonus of the CEO shall not exceed in any given year 250% of the CEO's annual base salary.

            

       

      	

            	7.2	
              Non-sales Executive Officers

            

       

      	

            	7.2.1	
              The cash bonus will be based on:

            

       

      	

            	•	
              the measurable Financial Objectives and Business Objectives of ReWalk as compared to ReWalks's budget and work plan for the relevant year.

            

       

      	

            	•	
              the achievement and performance of the individual measurable key performance indicators (KPIs), as initially determined at the commencement of each fiscal year (or start of employment, as applicable).

            

       

      	

            	7.2.2	
              A portion of the cash bonus may be granted at the discretion of the CEO of ReWalk, based on the evaluation of the Executive Officer's overall performance, and subject to the approval of the Compensation Committee and the Board.

            

       

      	

            	7.2.3	
              The annual bonus for the non-sales Executive Officers will not exceed in any given year 200% of the Executive Officer's annual base salary.

            

       

      	

            	7.3	
              Sales Executive Officer

            

       

      	

            	7.3.1	
              The overall compensation of the sales Executive Officers is specifically designed to motivate their performance. Therefore, the variable element of their compensation (with an emphasis on commission bonuses they receive, as will be
                defined below) is relatively larger when compared to the variable element of other Executive Officers' compensation, whereas the fixed element of their compensation is smaller.

            

       

      	

            	7.3.2	
              Executive Officer’s targets will be set at the beginning of each year (the "Sales Targets"). Achieving up to 100% of Sales Targets may correspond to up to 100% of the annual base salary of the
                sales Executive Officer.

            

       

      	

            	7.3.3	
              Up to 25% of the annual base salary of the sales Executive Officer may be granted at the discretion of the CEO of ReWalk, based on the evaluation of the Executive Officer's overall performance and subject to the approval of the
                Compensation Committee and the Board.

            

       

      	

            	7.3.4	
              The annual cash bonus for the sales Executive Officers will not exceed in any given year 200% of the Executive Officer's annual base salary.

            

       

      	

            	7.3.5	
              In the event that all or part of the Sales Targets which were the basis for the payment of the cash bonus were not collected, the excess corresponding bonus may be deducted from a future payment of a cash bonus.

            

       

      	

            	7.4	
              Adjustment of Targets and Goals

            

       

      The Compensation Committee and the Board may approve certain adjustments to the Financial Objectives, Business Objectives, Sales Targets and KPIs that were set at the beginning of the year in the
        event of material changes in the business environment of ReWalk, such as a re-organization of ReWalk, mergers, acquisitions, asset and/or business transfers, and/or material changes to the global business environment in which ReWalk operates.

       

      
        
          

      

      	

            	7.5	
              Bonus for an extraordinary transaction or effort

            

       

      In addition to the bonus payout formulas above, when an extraordinary transaction or effort is expected to take place (e.g. a public offering, a merger, an acquisition, a spin-off, a specific
        task), and subject to the approval of the Compensation Committee and the Board, a special bonus may be determined with respect to all or some of the Executive Officers, provided such special bonus does not exceed 25% of the Executive Officer's
        annual base salary.

       

      	

            	7.6	
              Payout in cash or equity based compensation

            

       

      The Compensation Committee and the Board will have full discretion to convert a portion of an Executive Officer's annual cash  bonus, in lieu of cash, into Equity-based awards and to specify their
        vesting (and other) terms.

       

      	

            	7.7	
              Partial Bonus Payout

            

       

      Subject to the conditions and limitations of this Section 7, an Executive Officer that is employed or provides services to ReWalk for only a portion of any year may be entitled to receive the
        pro-rata portion of any bonus described above, which will be calculated relatively to the period during which the Executive Officer was employed or provided services to ReWalk out of the entire calendar year.

       

      8.             Special Bonuses

       

      	

            	8.1	
              The Board of Directors and the Compensation Committee are authorized, at their discretion and beyond the annual bonuses and any other reward described in this policy, to grant special bonuses reflecting special efforts or exceptional
                achievements of Office Holders. The special bonus shall not exceed three (3) monthly salaries for any Office Holder. Special bonuses will be paid in cash unless the Compensation Committee and the Board of Directors decide that there are
                special circumstances, as specified in their resolutions, for the payment of a special bonus by way of shares of the Company or by way of convertible securities or securities exercisable into shares of the Company, in which case the
                provisions of Section 7.6 shall apply, mutatis mutandis.

            

       

      	

            	8.2	
              If special bonuses are granted in accordance with this Section 8, the Board of Directors and the Compensation Committee shall set the vesting terms of such Special Bonuses, and such vesting terms shall be not be required to accord with
                the vesting periods set forth for Equity-based Awards granted in accordance with Section 9.

            

       

      9.             Equity-based Awards

       

      ReWalk's Equity-based Awards are aimed at enhancing the alignment between the Executive Officers' interests and the long term interests of ReWalk and its stakeholders, and to promote the retention of
        Executive Officers for longer terms.

       

      Considering the potential for appreciation in the value of ReWalk’s stock in public trading markets as ReWalk grows, such element of compensation is regarded as having long-term incentive value. In
        addition, since these equity-based awards are structured to vest over several years, their incentive value to recipients is aligned with longer-term strategic plans.

       

      
        
          

      

      The Equity-based Awards may be in a form of one or more of various types of equity-based instruments, which may include stock options, restricted stock or restricted stock units in different weights
        (the "Equity-based Awards"). The weight of each of the equity-based instruments will be determined periodically by ReWalk's Compensation Committee and Board.

       

      ReWalk may consider arrangements which will enable optimal tax planning for the Executive Officers.

       

      	

            	9.1	
              Executive Officers' Equity-Based Awards

            

       

      	

            	9.1.1	
              Equity-Based Awards may be granted upon recruitment of an Executive Officer or from time to time, and while taking into consideration, inter alia, the educational background, prior business experiences, aptitude, qualifications, role,
                and personal responsibilities of the Executive Officer.

            

       

      	

            	9.1.2	
              The Equity-Based Awards which may be granted to an Executive Officer, will not exceed in value (based on accepted valuation methods), on the date of grant, per vesting annum (calculated on a linear basis), the following amounts:

            

       

      CEO – 500% of the Executive Officer's annual base salary;

       

      Other Executive Officers – 400% of the Executive Officer's annual base salary.

       

      However, the aforementioned restriction will not include a cash bonus which was converted into Equity-based Awards as described above.

       

      	

            	9.1.3	
              The Compensation Committee and the Board also considered setting a cap on value for Equity-based Awards at the time of exercise and concluded that this would not be advisable for ReWalk.

            

       

      	

            	9.1.4	
              Such Equity-based Awards shall vest over a minimum period of 3 years.

            

       

      	

            	9.1.5	
              Equity-based Awards will expire within 10 years as of their grant date.

            

       

      	

            	9.1.6	
              Equity-based Awards in the form of stock options will have an exercise price which is not lower than the fair market value of ReWalk's share on the date of grant.

            

       

      	

            	9.2	
              Acceleration of Equity-based Awards

            

       

      Subject to Section 10, upon the occurrence of certain events, such as a change of control or other corporate transaction (as defined in the applicable equity incentive plan), the vesting of up to
        100% of the unvested Equity-based Awards granted to an Executive Officer may be accelerated. Acceleration of Equity-based Awards may also apply upon certain events of termination of employment or services, all in accordance with the terms of the
        applicable equity incentive plan of ReWalk.

       

      10.          Change of Control

       

      
        	

              	10.1	
                Upon a change of control, if the CEO, the CFO, the General Manager of Israel, or the Vice President of Marketing are thereafter terminated within one year of such change of control, the terminated executives shall be entitled to the
                  following severance: (i) the CEO shall be entitled to severance in the form of 18 months’ salary, and the CEO’s bonus, and (ii) the CFO, General Manager of Israel and the Vice President of Marketing shall be entitled to severance in the
                  form of 12 months’ salary, and such executive’s bonus.

              

         

      

      
        
          

      

      11.           Overall compensation - Ratio between fixed and variable compensation

       

      	

            	11.1	
              We believe that the Compensation Policy must motivate our Executive Officers to drive ReWalk's business and financial results and is designed to reward significantly on sustainable performance over the long term. Accordingly, the
                structure of ReWalk's Compensation Policy is established to tie the compensation of each Executive Officer to ReWalk's financial and strategic achievements and to enhance the alignment between the Executive Officers' interests with the long
                term interests of ReWalk and its stakeholders.

            

       

      	

            	11.2	
              With the above considerations in mind, ReWalk will target a ratio between the fixed compensation (base salary) and the variable compensation (cash Bonus; Equity-based Awards) of up to 1:7.5 for CEO and 1:6 for other Executive Officers.

            

       

      	

            	11.3	
              The ratio above express the targeted range in the event that all performance measures are achieved at target levels.

            

       

      12.           Internal Compensation Ratio

       

      	

            	12.1	
              In the process of composing this Compensation Policy, the Compensation Committee and the Board have examined the ratio between overall compensation of the Executive Officers and the average and median salary of the other employees of
                ReWalk (including agency contractors, if any) (the "Internal Ratio").

            

       

      	

            	12.2	
              The possible ramifications of the Internal Ratio on the work environment in ReWalk were examined, and will be periodically reviewed by the Compensation Committee and the Board, in order to ensure that levels of executive compensation, as
                compared to the overall workforce will not have a negative impact on work relations in ReWalk.

            

       

      13.           Compensation of members of ReWalk's Board

       

      	

            	13.1	
              Compensation of non-executive directors

            

       

      The non-executive members of ReWalk's Board may (and, in the case of external directors, shall) be entitled to remuneration and refund of expenses according to the provisions of the Companies
        Regulations (Rules on Remuneration and Expenses of Outside Directors), 2000, as amended by the Companies Regulations (Relief for Public Companies Traded in Stock Exchange Outside of Israel), 2000, as such regulations may be amended from time to
        time.

       

      In addition, the non-executive members of ReWalk's Board may be eligible to participate in ReWalk’s equity plans. Such Equity-based Awards will not exceed in value (based on accepted valuation
        methods), on the date of grant, $500,000, per vesting annum (calculated on a linear basis). Equity-based awards will vest over a period of not less than 1 year. The provisions of Section 9.2 above regarding acceleration of vesting will apply,
        mutatis mutandis, to Equity-based Awards granted to non-executive members of ReWalk's Board.

       

      
        
          

      

      14.          Exculpation, indemnification and insurance

       

      	

            	14.1	
              Exculpation

            

       

      ReWalk may exculpate the members of its Board and its Executive Officers from a breach of duty of care, to the extent permitted by applicable law.

       

      	

            	14.2	
              Indemnification

            

       

      ReWalk may indemnify the members of its Board and its Executive Officers to the fullest extent permitted by applicable law, for any liability and expense that may be imposed on the Executive
        Officer, all subject to applicable law.

       

      	

            	14.3	
              Insurance

            

       

      ReWalk will provide "Directors and Officers Insurance" the members of its Board and its Executive Officers. The maximum aggregate coverage for any such insurance policy will not exceed USD
        50,000,000, and the annual premium payable for such coverage will not exceed USD 500,000.

       

      15.          Board's discretion to reduce compensation elements

       

      	

            	15.1	
              The Board may, at its sole discretion, approve compensation terms which are lower than the amounts described herein.

            

       

      	

            	15.2	
              The Board has the right to reduce any variable compensation to be granted to an Executive Officer due to special circumstances determined by the Board.

            

       

      16.          Compensation recovery (Claw-back)

       

      	

            	16.1	
              In the event of an accounting restatement, ReWalk shall be entitled to recover from any Executive Officer bonus compensation paid, in the amount of the excess over what would have been paid under the accounting restatement, with a 36
                month (three-year) look-back from the date of the restatement.

            

       

      	

            	16.2	
              The compensation recovery may apply to former Executive Officers of ReWalk. ReWalk will only seek reimbursement from the Executives to the extent such Executives would not have been entitled to all or a portion of such compensation,
                based on the financial data included in the restated financial statements. The Compensation Committee will be responsible for approving the amounts to be recouped and for setting terms for such recoupment from time to time.

            

       

      	

            	16.3	
              Notwithstanding the aforesaid, the compensation recovery will not be triggered in the event of a financial restatement required because of changes in the applicable financial reporting standards.

            

       

      	

            	16.4	
              Nothing in this Section 14 derogates from any other "Claw-back" or similar provisions regarding disgorging of profits imposed on Executive Officers by virtue of applicable securities laws.

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