Document:

Exhibit 10.18

 

Amended
and Restated Employment Agreement

 

Duly
made and executed on the date set forth in Appendix 1

 

By
and Between

 

Pluristem
Ltd.

Company
number 513371666

(hereinafter
the “Company”)

 

and

 

Yaacov
(Yaky) Yanay I.D. 28621605

(hereinafter
the “Employee”)

(other
details as set forth in Appendix 1)

 

WHEREAS,
the Employee has been employed by the Company since October 15, 2006 and the Employee and the Company seek to enter into this
Employment Agreement (the “Agreement”) to set forth the terms of the Employee’s employment as the Company’s
Chief Financial Officer; and

 

WHEREAS,
this Amended and Restated Employment Agreement amends and restated that certain Employment Agreement dated September 12, 2018;

 

WHEREAS,the
Employee represents that, he has the requisite skills and training to fulfill his obligations as set forth herein;

 

NOW,
THEREFORE, in consideration of the undertakings of the parties, it is hereby agreed:

 

1. DUTIES
AND RESPONSIBILITIES

 

1.1 Position.
The Employee shall serve in the position set forth in Appendix 1 hereto, and shall report to the Board the Directors or as set
forth in Appendix 1.

 

1.2 Exclusivity.
unless Company agrees otherwise (in advance and in writing), the Employee (i) shall devote his full working time (as defined herein),
attention, energies, skills, knowledge and experience to the faithful, responsible, competent, diligent, and conscientious performance
of his duties and responsibilities hereunder and best efforts to the business and affairs of the company; (ii) shall not engage
in or be associated with, directly or indirectly, any business which is competitive, directly or indirectly, with the business
of the Company, as more fully described in Appendix 2 attached hereto, and (iii) shall not undertake or accept any other paid
or unpaid employment or occupation;

 

1.3 Traveling.
The Employee’s employment may require travel outside Israel and the Employee agrees to such travel as may be necessary in order
to fulfill his duties hereunder. The employee shall engage in such travel as may reasonably be required in connection with the
performance of his duties. All reasonable travel and other expenses incurred by the employee (in accordance with the policies
as established from time to time) in carrying out his duties hereunder will be reimbursed by the Company on presentation to it
of expense accounts and appropriate documentation in accordance with the customary procedures of the Company for reimbursement
of employee expenses.

 

     

     

    

 

1.4 Compliance.
Without derogating from the above, the Employee shall act in accordance with the Company’s policies, regulations and general instructions
as shall be published and updated from time to time, including, but not limited to, the Company’s Sexual Harassment Policies,
the Company’s Insider Trade Policy, the Company’s whistle blowing policy, the Company’s Ethic Code etc. Without derogating
from the provisions of Section 2.4 below, in the event of a breach of this Section 1.4 or any of the policies mentioned herein,
Company shall have the right to immediately terminate this Agreement without prior notice, based on Company’s sole discretion.

 

1.5 Exclusivity
of Agreement. This Agreement is personal and special, and exclusively defines the entire relationship between the Company
and the Employee and all compensation and/or benefits to which the Employee is entitled from the Company. This Agreement supersedes
any prior agreements, understandings and arrangements, oral or written, applied, exchanged or signed between the parties hereto
with respect to the subject matter hereof. The Employee shall not be entitled to, and shall not demand, any other compensation
and/or benefit from the Company, unless explicitly provided for hereunder, and no practice and/or custom existing between the
Company and other employees, if any, shall apply to the relationship between the Employee and the Company, unless explicitly incorporated
into this Agreement, and then only to the extent so incorporated. This Agreement shall be considered as a notification of the
terms of employment as required by law.

 

1.6
 Capacity and Working Week. Employee shall work on a full time basis (constituting
182 monthly hours). Employee shall be entitled to a half-hour break every day, which will not be counted towards Employee’s
working time. The weekly rest day shall be Saturday. The customary working week at the Company is Sunday through Thursday, and
the customary work day is between 9:00am to 18:00pm (such that it shall consist of 9 hours per working day, except for a one fixed
day of the week, to be determined by the Company, that shall consist of only 8 working hours). Notwithstanding the foregoing,
it is hereby clarified that due to Employee’s duties, he may be required to perform overtime work, as further described
herein.

 

2. TERM
AND TERMINATION

 

2.1 Term
of Engagement. This Agreement shall become effective on the date set forth in Appendix 1 (the “Commencement Date”),
and will remain in force until terminated by a party at any time by giving a prior written notice of termination or resignation
(the “Term”), of a period as set forth in Appendix 1 (the “Notice Period”).

 

2.2 Notice
Period. During the Notice Period, the Employee shall continue to provide all services per this Agreement in full and in
a proper manner and shall cooperate with the Company and use his best efforts to assist in the integration into the Company’s
organization of the person or persons who will assume the Employee’s responsibilities. Notwithstanding the above, the Company
shall be entitled to waive the Employee’s services with the Company during the Notice Period or any part thereof and/or terminate
the employer-employee relationship prior to the completion of the Notice Period. In such event, , the Company shall pay the Employee
the amount equal to the compensatory payment as required by the Prior Notice Law, and the Employee shall immediately return to
the Company any and all equipment provided to him by the Company (including any car, computer, documents, data, etc.).

 

    2

     

    

 

2.3 Adjustment
Period- The parties agree that in the event of the termination of the employment for any reason (other than for Justifiable
Cause), or in the event of a Change of Control (as defined herein) during or following which (and up to 12 months of such Change
of Control) the employment terms of Employee (including position, authority, etc.) and/or the rights he is entitled to under this
Agreement will be subject to an adverse change by Company (regardless of whether or not the employment of Employee was actually
terminated), or Change in Control which led to the termination of employment by either party, regardless of reason (the “Change
in Control Trigger Event”), the Employee will be entitled to an adjustment period commencing on the date of termination
of the Notice Period and ending six (6) months from the date of termination of the advance notice, in addition to the advance
notice period (the “Adjustment Period”). Employee will accumulate additional one month to the Adjustment Period,
per each employment year commencing September 2018 the date of signing the original Co-CEO employment agreement, but in any case
the Adjustment Period will not exceed nine (9) months. During the Adjustment Period, the Employee will be entitled to receive
Base Salary from the Company, including maintenance of vehicle, maintenance of telephone, Pension Insurance and Education Fund,
and any other elements of compensation entitled under this employment agreement as adjustment fees (hereinafter: “Adjustment
Fee”) that will be paid on a monthly basis. During the Adjustment Period the Employee will be available to the Company
reasonably, as will be mutually agreed between the Employee and the Company. In order to clarify- (i) in a Change of Control Trigger
Event, Employee shall also be entitled to amounts equivalent to those that would have been payable to Employee under the Notice
Period; (ii) if the Adjustment Fee is paid to Employee pursuant to the Change in Control Trigger Event, and Employee’s employment
is terminated during 12 months from the Change of Control, no additional Adjustment Fee will be paid, (iii) if Adjustment Fee
is payable to Employee pursuant to a Change in Control Trigger Event, then the salary to be taken into account for this calculation
shall be the salary prior to its reduction (if applicable).

 

2.4 Termination
for Justifiable Cause. Notwithstanding the provisions of Sections 2.2 above, the Company shall have the right to terminate
this Agreement and the employer-employee relationship hereunder at any time for a Justifiable Cause (as defined below), by giving
the Employee a notice of termination for cause.

 

The
term “Justifiable Cause” shall mean (a) indictment or conviction of the Employee for committing a crime; or (b)
a serious breach of trust including but not limited to theft, fraud, disclosure to unauthorized persons or entities of confidential
or proprietary information of the Company and/or the engaging by the Employee in any business competitive to the business of the
Company; or (c) any breach of Sections 4 or 5 of this Agreement; or (d) any sexual harassment; or (e) violent behavior; or (f)
consistent noncompliance with Company’s policies, orders and regulations; or (g) performance, by the Employee, of any act that
entitles the Company to dismiss him without paying him any or partial severance pay in connection with such dismissal under applicable
law.

 

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2.5 Final
Settling. At the end of the employer-employee relationship, the Company and the Employee shall conduct a final settling
of the Employee’s accounts to be held according to the Company’s records. Such settling of accounts shall be final and no party
shall have any further claim or demand from the other party. It is agreed that, subject to the applicable laws, the Company shall
be entitled to deduct any amount the Employee shall owe the Company at such time from the amounts he shall be entitled to.

 

2.6 Release
of Funds. It is hereby agreed between the parties that in case of resignation (other than upon termination in circumstances
justifying dismissal without any or partial severance pay under applicable law), all sums accumulated in the Employee’s Pension
Insurance policies (after completion of payment of all premiums previously due with respect to such Pension Insurance Policies),
shall be released and transferred to the Employee. In case of dismissal the employee will be entitled to severance payment as
defined in the Severance Pay Law1963.

 

2.7 Return
of Equipment. At the end of the employer-employee relationship the Employee shall return to the Company any and all documents,
professional literature, equipment and property belonging to the Company, which may be in Employee’s possession at such time.
Should the Employee refuse and/or fail to do so, the Company shall have the right, in addition to any other remedy available under
any law, to offset the value of such property (as shall be determined solely by the Company) from the amounts (if any) that the
Employee might be entitled to.

 

2.8 Degree
of Trust. Employee understands and acknowledges that due to the nature of his work and duties, he may be required to work
during overtime hours. Employee further acknowledges that since his positions involved a high and special degree of trust, and
since the Company cannot keep specific track of all of the Employee’s overtime hours, the provisions of Work and Rest Law, 5711-1951
regarding overtime pay shall not apply to Employee, and that the Base Salary has been determined while taking into account reasonable
capacity of overtime work by Employee.

 

3. BASE
SALARY AND BENEFITS

 

3.1 Base
Salary

 

3.1.1
General. The Company shall pay the Employee a Base monthly salary in the amount set forth in Appendix 1 (the “Base
Salary”). As detailed below, the Base Salary is inclusive of overtime payment and special non-competition monthly compensation
(as such terms are defined below). It is clarified that the Base Salary alone shall be taken into account in calculating and determining
Employees social and/or fringe benefits (including with respect to any allocation in favor of pension, severance and/or education
fund).

 

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The
Base Salary shall be comprehensive and all-inclusive and it shall be deemed to embody any and all compensation the Employee shall
be entitled to in connection with his employment by the Company.

 

3.1.2
Payment. The Base Salary for each month shall be payable until the 9th calendar day of the following calendar month.

 

3.1.3 Occasional
Benefits. Any benefit, of any kind, granted to the Employee by the Company and which is not specified in this Agreement
(a “Benefit”), shall be deemed as a non-recurring event, and shall neither give rise to any new right of the Employee,
nor constitute a practice and/or custom and/or precedent between the parties which shall obligate the Company on any additional
and/or other occasions. It is hereby agreed, that any such Benefit shall be a supplement above and beyond the Employee’s Base
Salary, and shall not to be taken into account for the purpose of calculating the Employee’s social entitlements or rights.

 

3.1.4
Tax Deductions. The Company shall legally deduct and withhold income tax payments and any other obligatory payments,
such as social security and health insurance, from all the payments, which shall be paid to the Employee in accordance with this
Agreement and as required by law at such time.

 

3.2 Non-Competition
Compensation. The Employee acknowledges that an amount equal to 10% of the Base Salary is paid to him as a special supplementary
monthly compensation in consideration for the Employee’s obligation not to perform any Competitive Activity (as stated in Section
4 to Appendix 2 hereto; the “Special Non-Competition Compensation”). The specific amount of Non-Competition Compensation
(which may be updated pursuant to any change in the Base Salary amount) is detailed in Appendix 1. The Employee warrants and represents
that the Special Non-Competition Compensation amount constitutes real, appropriate and full compensation for any prejudice he
may suffer due to his obligation not to engage with any competitive activity, including but not limited to restriction of his
freedom of employment.

 

3.3 Recuperation
Pay. The Employee shall be entitled to Recuperation Pay (“Dmey Havra’a”) in accordance with the applicable law.

 

3.4 Vacation.
The Employee shall be entitled to the number of work days’ vacation in each calendar year, as set forth in Appendix 1. The Employee
is obligated to use at least seven (7) consecutive vacation days during each calendar year, commencing on the Commencement Date
(as defined in Appendix 1) and during each calendar year thereafter. To the extent permitted by law, unused vacation days may
be carried forward from one calendar year to the next. Any vacation days that are unused within two (2) years following the year
in which they were accumulated, shall expire.

 

3.5 Sick
Leave. The Employee shall be entitled to paid sick leave according to the law or in accordance with the Company’s
policies, as amended from time to time.

 

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3.6 Pension
Insurance. The Company and the Employee will obtain and maintain Managers Insurance and/or a comprehensive Pension Fund
according to the Employee’s choice (“Pension Insurance”). The Employee is entitled to receive the Company’s contribution
for his Pension Insurance Policies (Pension Funds and/or Managers Insurance) from the date indicated in Appendix 1:

 

3.6.1
The Company shall affect a Pension Insurance Policy (the “Policy”) for the Employee, and shall pay the percentages
detailed in Appendix 1 towards such Policy, on account of severance pay and Tagmulim.

 

3.6.2
In case Employee elects to be insured in a manager insurance scheme, the Company shall make additional payments, as detailed in
Appendix 1, on account of disability insurance, in accordance with Company’s policies.

 

3.6.3
Unless otherwise is indicated in Appendix 1, the Company shall deduct the percentage set forth in Appendix 1 from the Base Salary
for Pension Insurance to be paid on behalf of the Employee towards such Policy.

 

It
is clarified that the Employee shall bear any and all taxes, which may apply with respect to any contribution, which exceeds the
recognized tax ceilings with respect to the Pension Insurance.

 

3.6.4
In the event that the Company’s allocations to Employee’s Pension Insurance, which is a pension scheme, exceed the maximum exempted
amount under law, then Employee may elect to either: A. obtain an additional managers insurance toward the Company will allocate
the percentages detailed in Appendix 1 which shall reflect only the balance Base Salary amount of which such allocation under
the pension scheme exceeded the maximum exempted amount (“Alternative A”), or B. waive any such additional
allocation altogether (“Alternative B”).

 

In
case Employee choses Alternative A, upon termination by the Company or resignation by the Employee, Employee shall be solely entitled
to all amounts accrued under all Pension Insurance. In case Employee choses Alternative B then Employee shall be entitled, if
applicable, in addition to the Pension Insurance amounts, to receive severance pay based on Severance Pay Law calculated on the
basis of the Base Salary amounts per which the Company did not make any allocation to Pension Insurance. In the event that Employee
choses Alternative B but his employment is terminated without any additional right to severance pay according to Severance Pay
Law, then Employee shall nevertheless be entitled to an amount reflecting his final Base Salary multiplied by the number of years
of actual employment, minus the severance allocations accrued to him under the Pension Insurance.

 

3.7 Education
Fund. The Employee is entitled to Education Fund payments from the date indicated in Appendix 1 (if at all) as follows:

 

3.7.1
The Company shall pay a sum equal to a percentage that is detailed in Appendix 1 of the Base Salary for Education Fund and (ii)
shall deduct a percentage that is detailed in Appendix 1 from the Base Salary for Education Fund to be paid on behalf of the Employee
toward a further education fund. Use of this fund shall be in accordance with the policies of the relevant fund.

 

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3.7.2
With respect to Education Fund payment, Employee may elect that the salary base of calculation shall be less than the Base Salary.
In such event, the balance between the amounts that would have be allocated by the Company towards such Education Fund had the
entire Base Salary would have been taken into account, and the amount actually allocated by the Company pursuant to Employees
request shall be paid as an additional compensation (gross) (“Additional Compensation’) together with the Base Salary and
shall not be taken into account with respect to any social or fringe benefit such as pension, severance payments, education fund
etc., and will not be considered as part of the Base Salary for all intents and purposes. In such case, Employee will inform the
Company of such request and will sign a written consent.

 

3.8 Military
Reserve Duty. Employee shall inform the company of any military reserve duty employee has been ordered to perform, immediately
after he has been notified of the same. Employee undertakes to provide company with proper confirmation of active military reserve
duty, so that company may collect from the national insurance institute all amounts to which employee or company is entitled in
connection with such service.

 

3.9 Cellular
Phone. The Company will provide the Employee with a personal cellular phone and shall bear expenses associated with the
usage of the employee’s personal cellular phone as indicated in Appendix 1. Any tax withholding arising out of this reimbursement
shall be solely borne by the employee.

 

3.10 Vehicle.
In order to fulfill its duties, the Company will provide the Employee with a private car as indicated in Appendix 1 or a similar
executive vehicle as agreed from time to time with the compensation committee. The Company will bear all the payments to the leasing
company as well as all the current expenses involved in the maintenance of the vehicle, including fuel, parking, insurance, a
subscription to travel on toll roads and the like. The full tax liability that will arise from the position of the vehicle to
the Employee will apply to the Company (“full grossing up”). It is hereby clarified that the Employee shall be entitled
to continue to hold and use the vehicle during the period of prior notice, whether in the event of dismissal or in the event of
resignation, whether he worked during these periods or not. The Employee may waive his right to be provided with a private car
from the Company pursuant to this Agreement, in which case the Company shall pay the Employee an additional monthly compensation
which shall not be taken into account with respect to any social or fringe benefit such as pension, severance payments, education
fund etc. at the amount equal to the value of the benefit of such company’s car prior to such waiver and as determined from time
to time by the Compensation Committee.

 

3.11 Stock
based awards. During the term of this Agreement, subject to the below approvals, Employee shall be entitled to participate
in any of Pluristem Therapeutics Inc.’s (the Parent Company) equity compensation plans, whether currently in existence or
as may be adopted in the future by the Parent Company’s shareholders, from time to time (the “Plan”), and may be granted
such awards, pursuant to any relevant grant instruments, that may be granted in accordance with the Plan (the “Awards”)
as shall be determined by the Board and/or the Parent Company’s Compensation Committee.

 

It
is hereby clarified that the grant of the Awards is subject to (a) the approval of the Parent Company’s Board of Directors and/or
Compensation Committee and (b) execution of any documents required pursuant to applicable law and the terms of the Plan, including
execution of a grant Award agreement, and an irrevocable proxy. The terms of the Award, including but not limited to, the number
of Awards granted, the exercise price, vesting period, adjustments and exercise period shall be determined in accordance with
the provisions of the Plan and the executed grant Award agreement.

 

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Employee
shall be entitled to immediate acceleration of the of unvested Awards in the following circumstances: (i) in case of the termination
of the Company of this Employment Agreement, 100% of any unvested Awards; (ii) in case of the termination of Employee of this
Employment Agreement, 50% of any unvested Awards; and (iii) in the event of a Change of Control (as hereinafter defined) of the
Parent Company (or the Company), 100% of any unvested Awards.

 

For
purposes of this Agreement, “Change of Control” shall mean the occurrence of any of the following: (i) any
one person, or more than one person acting as a group or in concert, acquires beneficial ownership of stock of the Parent Company
that, together with stock held by such person or group, constitutes more than thirty percent (30%) of the total voting power of
the stock of the Parent Company; (ii) any consolidation or merger of the Parent Company into another corporation or entity where
the stockholders of the Parent Company, immediately prior to the consolidation or merger, would not, immediately after the consolidation
or merger, beneficially own, directly or indirectly, securities representing in the aggregate more than fifty percent (50%) of
the combined voting power of all the outstanding securities of the surviving corporation (or of its ultimate parent corporation,
if any); (iii) the sale, lease or other transfer of all or substantially all of the Parent Company’s assets to an independent,
unaffiliated third party in a single transaction or a series of related transactions; or (iv) the date that fifty percent (50%)
or more of the members of the Parent Company’s Board of Directors is replaced during any twelve (12) month period by directors
whose appointment or election is not endorsed by fifty percent (50%) or more of the Parent Company’s Board of Directors
prior to the date of the appointment or election.

 

Any
tax imposed on Employee with respect to the grant and/or the exercise of the Award shall be borne by the Employee.

 

3.12 Special
Bonus. Employee shall be entitled to receive performance based bonus of 1.5% of the sums actually received by the Company
during the Term, as well as the Notice Period and Adjustment Period, in case of: (i) consummation of a merger, acquisition or
sale of all or substantially all of the outstanding securities or assets of the Company; (ii) non-diluting funding; and (iii)
any other significant corporate transactions, including the equity component of such transaction, as determined by the Parent
Company’s Board of Directors. Employee is entitled to receive such Special Bonus on events that materialized during the
Notice Period and during the Adjustment Period. In addition, the Employee shall be entitled to up to the equivalent of three times
the Base Salary at the discretion of the Board for extraordinary performance or achievements.

 

3.13 Target
Bonus. Subject to meeting milestones determined annually by the Company’s Compensation Committee and/or the Board,
the Employee shall be entitled to a performance bonus in a gross amount of up to seven times the Base Salary.

 

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3.14. D&O
Insurance and indemnification. The Company agree to continue and maintain a directors’ and officers’ liability
insurance policy covering the Employee at a level, and on terms and conditions, no less favorable to him than the coverage the
Company provides other similarly-situated executives or directors until such time as suits against the Employee are no longer
permitted by law. Furthermore, the Company shall act to provide indemnification to the Employee in his capacity as an officer
of the Company.

 

4. PROPRIETARY
INFORMATION AND WORK PRODUCT; EQUIPMENT

 

4.1 Non-Disclosure
and Non-Competition Agreement. Concurrently with the execution of this Agreement, the Employee is executing the Non-Disclosure
and Non-Competition Agreement, which is attached hereto as Appendix 2, and which is an integral part hereof.

 

4.2 Monitoring
of Systems. The Company’s Systems (as defined below) or access which is provided to the Employee are and shall remain
the sole property of the Company. The Employee shall use such Systems for business purposes only. To ensure the security of such
Systems and to protect the Company’s confidential and proprietary information, the Company reserves the right, and the Employee
hereby agrees that the Company and anyone on its behalf may, at any time and for any purpose, monitor the Employee’s use of the
Systems and monitor, copy, transfer and disclose all electronic communications and content transmitted by or stored in such Systems,
regardless of the location, time or purpose of such use (other than protected private use in accordance to law). For the purposes
of this Section 4.2, “Systems” include any equipment and software of any kind, including Employee’s computer, Company’s
mailbox, Company’s and/or Employee’s telephone, etc. Employee acknowledges and approves that the provisions of this Section 4.2
are reasonable in light of the Employee’s position with the Company, in the course of which the Employee has and shall gain broad
knowledge of the Company’s Proprietary Information.

 

4.3 Employee
understands and acknowledges that for internal corporate, HR, finance and enterprise reasons, Company may share, transfer, convey
and make available certain personal information of the Employee (such as personal and demographic information, financial, personal
records, or other personally identifiable information) (collectively: the “Employee Information”) to the Parent
and its respective personnel, consultants, advisors and officers. Employee further understands that Parent is operating outside
the EEA and as such is not subject to privacy rules applicable in Israel and/or EEA. Nevertheless, Company shall take all reasonable
efforts to make sure that the Parent maintains and treats the Employee Information in standards no less stringent than the privacy
standards and requirements which apply to the Company.

 

4.4 Survival.
Sections 4 above will remain in full force and effect after termination of this Agreement.

 

5. WARRANTIES

 

5.1 The
Employee has the knowledge, abilities and skills required to perform the duties of his position.

 

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5.2 The
Employee shall inform the Company, immediately upon becoming aware of any matter in which he or a member of his immediate family
or affiliate has a personal interest or which might create a conflict of interests with his duties under this Agreement.

 

5.3 In
carrying out his duties under this Agreement, the Employee shall not make any representations, or give any guaranties on behalf
of the Company, except as authorized to do.

 

5.4 The
Employee represents and warrants that he is aware of the Condition Precedent and the fact that this Agreement might not become
effective if the Condition Precedent will not be satisfied. Notwithstanding the above, the Employee represents and warrants that
on the effective date he will be free to provide services to the Company upon the terms contained in this Agreement and that there
are nor will be no employment contracts, consulting contracts or restrictive covenants preventing full performance of his duties
hereunder.

 

5.5 The
Employee represents and warrants that he will not use during the course of his employment with the Company any trade secrets or
proprietary information that is the property of his previous employer(s) in such a manner that may breach any confidentiality
or noncompetition agreement or other obligation the Employee may have with such former employer(s).

 

6. GENERAL
PROVISIONS

 

6.1 In
this Agreement words importing the masculine gender shall include the feminine gender.

 

6.2 This
Agreement shall not be amended, modified or varied by any oral agreement or representation or otherwise than by written instrument
executed by either parties or their duly authorized representatives.

 

6.3 This
Agreement is personal to the Employee, and the Employee shall not assign or delegate his rights or duties to a third party, whether
by contract, will or operation of law, without the Company’s prior written consent.

 

6.4 This
Agreement shall inure to the benefit of the Company’s successors and assigns.

 

6.5 Each
notice and/or demand given by one party pursuant to this Agreement shall be given in writing and shall be sent by registered mail
to the other party at the address appearing in the caption of this Agreement, and such notice and/or demand shall be deemed given
at the expiration of seven (7) days from the date of mailing by registered mail or immediately if delivered by hand. Such address
shall be effective unless notice of a change in address is provided by registered mail to the other party.

 

6.6 It
is hereby agreed between the parties that the laws of the State of Israel shall apply to this Agreement. The legally authorized
courts in the district of Tel Aviv, Israel, shall have exclusive jurisdiction over the parties hereto and subject matter hereof.

 

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6.7 No
Waiver. No delay, failure, or forbearance to exercise any right, power, or remedy accruing to either party upon breach or default
under this Agreement shall be deemed a waiver of any prior or subsequent breach or default of this Agreement, nor affect the validity
of any provision of this Agreement.

 

6.8 Integration.
This Agreement sets forth the entire agreement between the parties on the subject hereof and supersedes any previous oral or written
agreements, understandings, memoranda, emails, letters or representations on the subject matter hereof.

 

6.9 Severance.
If any one or more of the terms of this Agreement shall for any reason be held to be invalid or unenforceable, such term shall
be construed in a manner to enable it to be enforced to the extent compatible with applicable law. Any determination of the invalidity
or unenforceability of any provision of the Agreement shall not affect the remaining provisions hereof unless the business purpose
of this Agreement is substantially frustrated thereby.

 

6.10. The
Company is not a party to any Collective Agreement.

 

6.11. The
above and the said in the appendixes shall be without prejudice to any right conferred to the Employee by any law, Extension Order
or Collective Agreement.

 

[signature
page follows]

 

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IN
WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written:

 

	/s/ Zami Aberman /s/ Chen Franco-Yehuda	 	/s/ Yaacov (Yaky) Yanay
	Pluristem Ltd.	 	Yaacov (Yaky) Yanay
		 	 
	Date: September 10, 2020	 	Date: September 10, 2020

 

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Appendix
1

 

	1	Employee
    Personal Details	Full
                                         Name: Yaacov (Yaky) Yanay

        I.D.
        Number: 28621605, Date of Birth: 22/06/1971, Address: Shimshit, Israel

	2	Position
    in the Company	CEO
    & President, reporting to the  Board of Directors of the Company
	3	Commencement
    Date	September
    10, 2020
	4	Period
    of prior notice (mutual)	180
    days
	 	Adjustment
    Period	6
    months, and up to additional 3 months as defined at Section 2.3
	5	Base
    Salary:	80,000
    NIS, increasing to 99,000 NIS effective January 1, 2021
	6	Yearly
    Vacation Days	24
    Days
	7	Pension
    Insurance	Entitled
	      For
severance pay	8.33
    % of Base Salary, unless Employee decides that such percentage will be calculated on a lower amount of Base Salary as described
    at 3.6.4.
	      For Tagmulim	6.5
                                         % of Base Salary for Pension Fund

        No
        less than 6.5% and not more than 7.5% of Base Salary for Mangers Insurance,

        Unless
        Employee decides that such percentage will be calculated on a lower amount of Base Salary as described at 3.6.4

	      For
disability pension	Not
    more than 2.5 % of Base Salary but in accordance with the applicable plan that was selected by the Company, unless Employee
    decides that such percentage will be calculated on a lower amount of Base Salary as  described at 3.6.4
	 	      Deduct
from Employee (on account of Tagmulim)
	6
    % of Base Salary for Manager’s Insurance or Pension Fund, unless Employee decides that such percentage will be calculated
    on a lower amount of Base Salary as  described at 3.6.4
	8	Education
    Fund	Entitled
	      Payment
by Company	7.5%
    of Base Salary for Education Fund , unless Employee decides that such percentage will be calculated on a lower amount of Base
    Salary as  described at 3.7.2
	      Deduct
from Employee (on account of education fund)
	2.5%
    of Base Salary for Education Fund , unless Employee decides that such percentage will be calculated on a lower amount of Base
    Salary as  described at 3.7.2
	9	Cellular
    Telephone	Entitled
    to Cellular phone and reimbursement relevant expenses
	10	Vehicle	Subaru
    Forester or a model equivalent, in accordance with company policy.  The full tax liability that will arise from the position
    of the vehicle to the Employee will apply to the Company
	11	Target
    Bonus	Subject
    to meeting milestones determined annually by the Company’s Compensation Committee and/or the Board, the Employee shall
    be entitled to a performance bonus in a gross amount of up to seven times the Base Salary.
	12	Special
    Bonus	Upon
    the completion of each non-dilutive funding and other transaction as defined in Section 3.12, which may include, among other
    things, corporate partnering and strategic deals, after the date hereof, a special bonus equal to 1.5% of the amounts actually
    received during the term, as the Notice Period and Adjustment Period, in such funding. In addition, the Employee shall be
    entitled to up to the equivalent of three times the Base Salary at the discretion of the Board for extraordinary performance
    or achievements.

 

	/s/
    Zami Aberman /s/ Chen Franco-Yehuda	 	/s/
    Yaacov (Yaky) Yanay
	Pluristem
    Ltd.	 	THE
    EMPLOYEE, Yaacov (Yaky) Yanay
		 	 
	Date: September 10,
    2020	 	Date: September 10,
    2020

 

    13

     

    

 

Appendix
2

 

Non-Disclosure
and Non-Competition Agreement

 

I
acknowledge that as a result of my employment by Pluristem Ltd. (the “Company”), I may develop, receive,
or otherwise have access to confidential or proprietary information that is of value to the Company. I therefore agree, as a condition
of my employment, as follows:

 

		1.	Non
- disclosure

 

		1.1.	Recognition
of Company’s Rights; Non - disclosure. At all times during my employment and thereafter, I will hold in strictest confidence
and will not disclose, disseminate, use, copy, lecture upon or publish in any manner or fashion whatsoever, any of the Company’s
Proprietary Information (as such term is defined below), except as such disclosure, use or publication may be required in connection
with my work for the Company, or unless an officer of the Company expressly authorizes such in writing in advance. I will obtain
the Company’s written approval before publishing or submitting for publication any material (written, verbal, or otherwise) that
relates to my work at the Company and/or incorporates any Proprietary Information. I hereby assign to the Company any rights I
may have or acquire in such Proprietary Information and recognize that all Proprietary Information shall be the sole property
of the Company and its assigns.

 

		1.2.	Proprietary
                                         Information. The term “Proprietary Information” shall mean any and
                                         all confidential and/or proprietary knowledge, data or information of the Company. By
                                         way of illustration but not limitation, “Proprietary Information” includes
                                         (a) trade secrets, inventions, pending patents, mask works, ideas, processes, formulas,
                                         source and object codes, data, programs, other works of authorship, know-how, improvements,
                                         inventions, discoveries, developments, designs and techniques (excluding inventions that
                                         are not assignable under Section 2.4, hereinafter collectively referred to as “Inventions”);
                                         and (b) information regarding plans for research, development, new products, marketing
                                         and selling, business plans, budgets and any unpublished financial statements and/or
                                         information, licenses, strategies, forecasts and projections, prices and costs, suppliers
                                         and customers; (c) information regarding the skills and compensation of other employees,
                                         management or other personnel of the Company; and (d) information that is disclosed in
                                         the furtherance of the business of the Company including, without limitation, the area
                                         of activity in which the Company is involved, the Company’s technical, business
                                         and financial information, documentation, records, files, memoranda, reports, drawings,
                                         plans, price lists, customer lists, and the like. Notwithstanding the foregoing, it is
                                         understood that, at all such times, I am free to use information which is generally known
                                         in the trade or industry, which is not gained as result of a breach of this Agreement,
                                         to whatever extent and in whichever way I wish.

 

    14

     

    

 

 

		1.3.	Third
                                         Party Information. I understand, in addition, that the Company has received and in
                                         the future will receive from third parties confidential or proprietary information (“Third
                                         Party Information”) subject to a duty on the Company’s part to maintain the
                                         confidentiality of such information and to use it only for certain limited purposes.
                                         During the term of my employment and thereafter, I will hold Third Party Information
                                         in the strictest confidence and will not disclose to anyone (other than Company personnel
                                         who need to know such information in connection with their work for the Company) or use,
                                         except in connection with my work for the Company, Third Party Information unless expressly
                                         authorized by an officer of the Company in writing.

 

		1.4.	No
                                         Improper Use of Information of Prior Employers and Others. During my employment with
                                         the Company, I will not improperly use or disclose any Proprietary Information and/or
                                         confidential information or trade secrets, if any, of any former employer or any other
                                         person to whom I have an obligation of confidentiality, and I will not bring onto the
                                         premises of the Company any unpublished documents or any property belonging to any former
                                         employer or any other person to whom I have an obligation of confidentiality unless consented
                                         to in writing by that former employer or person.

 

		2.	Assignment
of Inventions

 

		2.1.	Proprietary
                                         Rights. The term “Proprietary Rights” shall mean all trade secret,
                                         patent, copyright, mask work and other intellectual property rights throughout the world.

 

		2.2.	Prior
                                         Inventions. I hereby confirm that I have transferred and assigned in whole to the
                                         Company any and all of my rights, title and interest in any and all Inventions, which
                                         are currently being used or contemplated to be used by the Company on the date hereof.
                                         Notwithstanding the foregoing, other than inventions referred to in the immediately preceding
                                         sentence, inventions, if any, patented or unpatented, which I made prior to the commencement
                                         of my employment with the Company (“Prior Inventions”) are excluded
                                         from the scope of this Agreement. If, in the course of my employment with the Company,
                                         I incorporate a Prior Invention into a Company product, process or machine, the Company
                                         is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual,
                                         unlimited worldwide license (with rights to sublicense through multiple tiers of sublicenses)
                                         to make, have made, modify, use and/or sell and/or otherwise use as the Company may wish,
                                         such Prior Invention. Without derogating from the foregoing, I agree that I will not
                                         incorporate, or permit to be incorporated, Prior Inventions in any Company Inventions
                                         without the Company’s prior written consent.

 

Prior
Inventions: _________ [Please List all Prior Inventions (if any)]

 

    15

     

    

 

		2.3.	Assignment
                                         of Inventions. I will promptly disclose to the Company, or any persons designated
                                         by it, all Inventions made or conceived or reduced to practice or learned by me, either
                                         alone or jointly with others, during the employment term, as a result of tasks assigned
                                         by the Company or as a result of the use of premises and/or equipment owned, leased,
                                         or contracted for by the Company. Furthermore, subject to Section 2.4, I hereby assign
                                         and agree to assign in the future (when any such Inventions or Proprietary Rights are
                                         first reduced to practice or first fixed in a tangible medium, as applicable) to the
                                         Company all my right, title and interest in and to any and all Inventions (and all Proprietary
                                         Rights with respect thereto) whether or not patentable or registrable under copyright
                                         or similar statutes, made or conceived or reduced to practice or learned by me, either
                                         alone or jointly with others, during the period of my employment with the Company and
                                         which are connected and/or related to the Company’s business and which have been created
                                         or developed as part of my work for the Company. Inventions assigned to the Company,
                                         or to a third party as directed by the Company pursuant to this Section 2, are hereinafter
                                         referred to as “Company Inventions”.

 

		2.4.	Government
                                         or Third Party. I also agree to assign all my right, title and interest in and to
                                         any particular Company Invention to any third party, including without limitation government
                                         agency, as directed by the Company.

 

		2.5.	Works
                                         made for Hire. I further acknowledge that all original works of authorship which
                                         are made by me (solely or jointly with others) within the scope of and during my employment
                                         with the Company are “works made for hire” as contemplated under Chapter
                                         H of the Patents Law of 1967 (the “Patents Law”), that all such “works
                                         made for hire” are owned by the Company, its successors, assigns or nominees, and
                                         that I shall not be entitled to any compensation, other than the Base Salary, for creation
                                         or assignment of the same to the Company, its successors, assigns or nominees; it being
                                         acknowledged and agreed that the Base Salary and all other employment terms under the
                                         Employment Agreement shall constitute the sole consideration and remuneration for any
                                         Inventions, including, without limitation, “works made for hire”, regardless
                                         of the current or future value of the Invention. I understand and agree that the decision
                                         whether or not to commercialize or market any invention developed by me (including the
                                         Inventions), solely or jointly with others, is within the Company’s sole and unfettered
                                         discretion and for the Company’s sole benefit and that no royalty will be due to
                                         me as a result of the Company’s efforts to commercialize or market any such invention
                                         (including the Inventions). This Section 2.5 shall be deemed as an “agreement”
                                         for purposes of Section 134 of the Patents Law. Furthermore, Employee waives any right
                                         to receive any notice by Company regarding any Inventions pursuant to Section 132 of
                                         the Patents Law.

 

    16

     

    

 

		2.6.	I
                                         acknowledge and agree that in event that, notwithstanding the agreement stipulated herein,
                                         it will be decided by a competent authority, court or any other competent tribunal, either
                                         due to my application or any other source, that I may deserve additional compensation
                                         for Company Inventions, in addition to any amounts paid to me by the Company under and
                                         according to my employment agreement (a “Claim”), my Base Salary (as
                                         defined in the Agreement) shall be reduced, retroactively effective as of the date of
                                         the beginning of my employment by the Company to an amount equal to 80% (eighty percent)
                                         of the Base Salary actually paid to me by the Company (the “Agreed Alternative
                                         Payment”) and I shall be obligated to return to the Company, on the day the
                                         Claim was made and/or the demand which contradicts this Agreement was made, all additional
                                         amounts that I received from the Company beyond the Agreed Alternative Payment, retroactively
                                         from my employment Start Date onward (the “Excess Amount”), plus interest
                                         as of the original date of payment thereof. I acknowledge that the Company shall be entitled
                                         to set off such Excess Amounts against all amounts that I shall be entitled to under
                                         the Agreement, or under the decision of the Court or of any other competent tribunal
                                         or authority. Such set-off shall not derogate from the Company’s right to collect any
                                         additional amounts from me.

 

In
addition, I undertake, by signing this Agreement that I will not, directly or indirectly, make a claim and /or sue and/or demand,
from the Company and/or any of its officers, employees and shareholders any additional compensation for creation or assignment
of Inventions beyond the amounts paid to me by the Company according to my Employment Agreement.

 

		2.7.	Copyright
                                         Works. Without derogating from the forgoing, I acknowledge that all original works
                                         of authorship which are made by me (solely or jointly with others) within the scope of
                                         my employment and which are protectable by copyright are the property of the Company
                                         pursuant to applicable copyright law.

 

		2.8.	Enforcement
                                         of Proprietary Rights. I will assist the Company in every proper way to obtain, and
                                         from time to time enforce, any Proprietary Rights relating to Company Inventions in any
                                         and all countries. To that end I will execute, verify and deliver such documents and
                                         perform such other acts (including appearances as a witness) as the Company may reasonably
                                         request for use in applying for, obtaining, perfecting, evidencing, sustaining and enforcing
                                         such Proprietary Rights and the assignment thereof. In addition, I will execute, verify
                                         and deliver assignments of such Proprietary Rights to the Company or its designee. My
                                         obligation to assist the Company with respect to Proprietary Rights relating to such
                                         Company Inventions in any and all countries shall continue beyond the termination of
                                         my employment, but the Company shall compensate me at a reasonable rate, to be discussed
                                         with the Company, after my termination for the time actually spent by me at the Company’s
                                         request on such assistance, subject to my consent, which will not be withheld for unreasonable
                                         reasons.

 

		2.9.	Power
                                         of Attorney. In the event the Company is unable for any reason, after reasonable
                                         effort, to secure my signature on any document needed in connection with the actions
                                         specified in Section 2.8 hereof, I hereby irrevocably designate and appoint the Company
                                         and its duly authorized officers and agents as my agent and attorney in fact, which appointment
                                         is coupled with an interest, to act for and in my behalf to execute, verify and file
                                         any such documents and to do all other lawfully permitted acts to further the purposes
                                         of the preceding paragraph with the same legal force and effect as if executed by me.
                                         I hereby waive and quitclaim to the Company any and all claims, of any nature whatsoever,
                                         which I now or may hereafter have for infringement of any Proprietary Rights assigned
                                         hereunder to the Company.

 

    17

     

    

 

		3.	Records

  

I
agree to keep and maintain adequate and current records (in the form of notes, sketches, drawings and in any other form that may
be required by the Company) of all Proprietary Information developed by me and all Inventions made by me during the period of
my employment at the Company, which records shall be available to and remain the sole property of the Company at all times.

 

		4.	Competitive
Activities

 

I
acknowledge that I have carefully reviewed the provisions of this Agreement, the Employment Agreement and the appendices thereof,
fully understand the consequences thereof, and have assessed the respective advantages and disadvantages to me in entering into
this Agreement. In light of the aforesaid, I agree that, during the period of my employment by the Company and for a period of
one (1) year thereafter, I will not, directly or indirectly, carry on or engage in any employment or business activity, or hold
an interest in any business, either as an employee, owner, partner, agent, shareholder, director, consultant or otherwise, which
is competitive with the business of the Company (“Competitive Activity”). I agree further that for the period
of my employment by the Company and for a period of one (1) year thereafter, I will not induce, solicit, employ or entice away
or endeavor to solicit, employ or entice away any employee of the Company to leave the employ of the Company or to perform any
Competitive Activity. In addition, I agree not to solicit, canvass or approach or endeavor to solicit, canvass or approach any
person who was provided with services by the Company or its subsidiaries, or has provided services to the Company or its subsidiaries,
at any time during the twelve (12) months immediately prior to the termination date of this Agreement, for the purpose of offering
services which are competitive with those provided by the Company. I acknowledge that due to my position, the Proprietary Information
I am and shall be exposed to and the nature of the business of the Company - any Competitive Activity performed by me will severely
harm the legitimate rights and interests of the Company, including but not limited to its Proprietary Rights. In light of all
the foregoing I acknowledge that this non-competition undertaking is reasonable, proportional and does not exceed the minimum
required to protect the Company’s legitimate rights and interests. I warrant and represent that the Special Non-Compensation Monthly
Compensation (as such term is defined in the Employment Agreement) constitutes a real, appropriate and full consideration to any
prejudice I may suffer due to my undertaking not to engage with any Competitive Activity, including but not limited to any restriction
to my freedom of employment.

 

		5.	No
Conflicting Obligation

 

I
represent that my performance of all the terms of this Agreement and as an employee of the Company does not and will not breach
any agreement to keep in confidence information acquired by me in confidence or in trust prior to my employment by the Company.
I have not entered into, and I agree not to enter into, any agreement, written or oral in conflict herewith.

 

    18

     

    

 

		6.	Return
                                         of Company Documents

  

When
I leave the employ of the Company, I will deliver to the Company any and all drawings, notes, memoranda, specifications, devices,
formulas, and documents, together with all copies thereof, and any other material containing or disclosing any Company Inventions,
Third Party Information or Proprietary Information of the Company.

 

		7.	Notification
of New Employer

 

In
the event that I leave the employ of the Company, I hereby consent to the notification of my new employer of my rights and obligations
under this Agreement.

 

		8.	General
Provisions

 

		8.1.	Severability.
                                         I acknowledge that the provisions of this Agreement serve as an integral part of the
                                         terms of my employment and reflect the reasonable requirements of the Company in order
                                         to protect its legitimate interests with respect to the subject matter hereof. In case
                                         any one or more of the provisions contained in this Agreement shall, for any reason,
                                         be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality
                                         or unenforceability shall not affect the other provisions of this Agreement, and this
                                         Agreement shall be construed as if such invalid, illegal or unenforceable provision had
                                         never been contained herein. If moreover, any one or more of the provisions contained
                                         in this Agreement shall for any reason be held to be excessively broad as to duration,
                                         geographical scope, activity or subject, it shall be construed by limiting and reducing
                                         it, so as to be enforceable to the extent compatible with the applicable law as it shall
                                         then appear.

 

		8.2.	Successors
                                         and Assigns. This Agreement will be binding upon my heirs, executors, administrators
                                         and other legal representatives and will be for the benefit of the Company, its successors,
                                         and its assigns.

 

		8.3.	Survival.
                                         The provisions of this Agreement shall survive the termination of my employment and the
                                         assignment of this Agreement by the Company to any successor in interest or other assignee.

 

		8.4.	Waiver.
                                         No waiver by the Company of any breach of this Agreement shall be a waiver of any preceding
                                         or succeeding breach. No waiver by the Company of any right under this Agreement shall
                                         be construed as a waiver of any other right. The Company shall not be required to give
                                         notice to enforce strict adherence to all terms of this Agreement.

 

		8.5.	Entire
                                         Agreement. The obligations pursuant to Sections 1 and 2 of this Agreement shall apply
                                         to any time during which I was previously employed (if at all), am or will be in the
                                         future employed, by the Company, including as a consultant if no other agreement governs
                                         nondisclosure and assignment of inventions during such period. This Agreement is the
                                         final, complete and exclusive agreement of the parties with respect to the subject matter
                                         hereof and supersedes and merges all prior discussions or agreements between us with
                                         respect to the subject matter hereof. No modification of or amendment to this Agreement,
                                         nor any waiver of any rights under this Agreement, will be effective unless in writing
                                         and signed by the party to be charged. Any subsequent change or changes in my duties,
                                         salary or compensation will not affect the validity or scope of this Agreement.

 

    19

     

    

 

		8.6.	Governing
                                         Law. This Agreement shall be governed by, and construed in accordance with the laws
                                         of the State of Israel, without giving effect to the rules respecting conflict-of-law.

 

		8.7.	Jurisdiction.
                                         The legally authorized courts in the district of Tel Aviv, Israel, shall have exclusive
                                         jurisdiction over the parties hereto and subject matter hereof.

 

This
Agreement shall be effective as of the date the Employment Agreement of the Employee was made effective.

 

I
HAVE READ THIS AGREEMENT CAREFULLY AND UNDERSTAND ITS TERMS.

 

ACCEPTED
AND AGREED TO:

 

	/s/
    Zami Aberman /s/ Chen Franco-Yehuda	 	/s/
    Yaacov (Yaky) Yanay
	Pluristem
    Ltd.	 	THE
    EMPLOYEE, Yaacov (Yaky) Yanay
		 	 
	Date: September 10,
    2020	 	Date: September 10,
    2020

 

 

20Exhibit 10.19

 

Amended and Restated
Employment Agreement

 

Duly made and executed
on the date set forth in Appendix 1

 

By and Between

 

Pluristem Ltd.

Company number
513371666

(hereinafter the
“Company”)

 

and

 

Chen Franco Yehuda
I.D. 038749859 

(hereinafter
the “Employee”)

(other details as
set forth in Appendix 1)

 

WHEREAS, the Employee has been
employed by the Company since May 1, 2013 and the Employee and the Company seek to enter into this Employment Agreement (the
“Agreement”) to set forth the terms of the Employee’s employment as the Company’s Chief Financial
Officer; and

 

WHEREAS, this Amended and Restated
Employment Agreement amends and restated that certain Employment Agreement dated May 6, 2019;

 

WHEREAS, the Employee
represents that, she has the requisite skills and training to fulfill her obligations as set forth herein;

 

NOW, THEREFORE, in consideration
of the undertakings of the parties, it is hereby agreed:

 

		1.	duties
                                         and responsibilities

 

		1.1	Position. The Employee
                                         shall serve in the position of Chief Financial Officer, as set forth in Appendix 1
                                         hereto, and shall report to Company’s CEO, or as set forth in Appendix 1.

 

		1.2	Exclusivity.
                                         Unless the Company agrees otherwise (in advance and in writing), the Employee
                                         (i) shall devote her full working time (as defined herein), attention, energies, skills,
                                         knowledge and experience to the faithful, responsible, competent, diligent, and conscientious
                                         performance of her duties and responsibilities hereunder and best efforts to the business
                                         and affairs of the company; (ii) shall not engage in or be associated with, directly
                                         or indirectly, any business which is competitive, directly or indirectly, with the business
                                         of the Company, as more fully described in Appendix 2 attached hereto;
                                         and (iii) shall not undertake or accept any other paid or unpaid employment or occupation.

 

		1.3	Traveling. The Employee’s
                                         employment may require travel outside Israel and the Employee agrees to such travel as
                                         may be necessary in order to fulfill her duties hereunder. The Employee shall engage
                                         in such travel as may reasonably be required in connection with the performance of her
                                         duties. All reasonable travel and other expenses incurred by the employee (in accordance
                                         with the policies as established from time to time) in carrying out her duties hereunder
                                         will be reimbursed by the Company on presentation to it of expense accounts and appropriate
                                         documentation in accordance with the customary procedures of the Company for reimbursement
                                         of employee expenses.

 

     

     

    

 

		1.4	Compliance. Without
                                         derogating from the above, the Employee shall act in accordance with the Company’s
                                         policies, regulations and general instructions as shall be published and updated from
                                         time to time, including, but not limited to, the Company’s Sexual Harassment Policies,
                                         the Company’s Insider Trade Policy, the Company’s whistle blowing policy,
                                         the Company’s Ethic Code etc. Without derogating from the provisions of Section
                                         2.4 below, in the event of a breach of this Section 1.4 or any of the policies mentioned
                                         herein, Company shall have the right to immediately terminate this Agreement without
                                         prior notice, based on Company’s sole discretion.

 

		1.5	Exclusivity of Agreement.
                                         This Agreement is personal and special, and exclusively defines the entire relationship
                                         between the Company and the Employee and all compensation and/or benefits to which the
                                         Employee is entitled from the Company. This Agreement supersedes any prior agreements,
                                         understandings and arrangements, oral or written, applied, exchanged or signed between
                                         the parties hereto with respect to the subject matter hereof. The Employee shall not
                                         be entitled to, and shall not demand, any other compensation and/or benefit from the
                                         Company, unless explicitly provided for hereunder, and no practice and/or custom existing
                                         between the Company and other employees, if any, shall apply to the relationship between
                                         the Employee and the Company, unless explicitly incorporated into this Agreement, and
                                         then only to the extent so incorporated. This Agreement shall be considered as a notification
                                         of the terms of employment as required by law.

 

		1.6	Capacity and
                                         Working Week. Employee shall work on a full time basis (constituting 182 monthly
                                         hours). Employee shall be entitled to a half-hour break every day, which will not be
                                         counted towards Employee’s working time. The weekly rest day shall be Saturday.
                                         The customary working week at the Company is Sunday through Thursday, and the customary
                                         work day is between 9:00am to 18:00pm (such that it shall consist of 9 hours per working
                                         day, except for a one fixed day of the week, to be determined by the Company, that shall
                                         consist of only 8 working hours). Notwithstanding the foregoing, it is hereby clarified
                                         that due to Employee’s duties, she may be required to perform overtime work, as
                                         further described herein.

 

		2.	TERM
                                         AND TERMINATION

 

		2.1	Term of Engagement.
                                         This Agreement shall become effective on the date set forth in Appendix 1 (the “Commencement
                                         Date”), and will remain in force until terminated by a party at any time by giving
                                         a prior written notice of termination or resignation (the “Term”), of a
                                         period as set forth in Appendix 1 (the “Notice Period”).

 

		2.2	Notice Period. During
                                         the Notice Period, the Employee shall continue to provide all services per this Agreement
                                         in full and in a proper manner and shall cooperate with the Company and use her best
                                         efforts to assist in the integration into the Company’s organization of the person
                                         or persons who will assume the Employee’s responsibilities. Notwithstanding the
                                         above, the Company shall be entitled to waive the Employee’s services with the
                                         Company during the Notice Period or any part thereof and/or terminate the employer-employee
                                         relationship prior to the completion of the Notice Period. In such event, , the Company
                                         shall pay the Employee the amount equal to the compensatory payment as required by the
                                         Prior Notice Law, and the Employee shall immediately return to the Company any and all
                                         equipment provided to her by the Company (including any car, computer, documents, data,
                                         etc.).

 

    2

     

    

 

		2.3	Adjustment Period-
                                         The parties agree that in the event of the termination of the employment for any reason
                                         (other than for Justifiable Cause), or in the event of a Change of Control (as
                                         defined herein) during or following which (and up to 12 months of such Change of Control)
                                         the employment terms of Employee (including position, authority, etc.) and/or the rights
                                         she is entitled to under this Agreement will be subject to an adverse change by Company
                                         (regardless of whether or not the employment of Employee was actually terminated), or
                                         Change in Control which led to the termination of employment by either party, regardless
                                         of reason (the “Change in Control Trigger Event”), the Employee will be
                                         entitled to an adjustment period commencing on the date of termination of the Notice
                                         Period and ending three (3) months from the date of termination of the advance notice,
                                         in addition to the advance notice period (the “Adjustment Period”). Employee
                                         will accumulate additional one month to the Adjustment Period, per each employment year
                                         commencing June 30, 2020, but in any case the Adjustment Period will not exceed six (6)
                                         months. During the Adjustment Period, the Employee will be entitled to receive an amount
                                         equal to the Base Salary from the Company, including maintenance of vehicle, maintenance
                                         of telephone, and amounts equal to those that would have been paid as Pension Insurance
                                         and Education Fund to the Employee had she still been employed by Company, and any other
                                         elements of compensation entitled under this employment agreement as adjustment fees
                                         (hereinafter: “Adjustment Fee”) that will be paid on a monthly basis. During
                                         the Adjustment Period the Employee may be available to the Company reasonably, as will
                                         be mutually agreed between the Employee and the Company. In order to clarify- (i) in
                                         a Change of Control Trigger Event, Employee shall also be entitled to amounts equivalent
                                         to those that would have been payable to Employee under the Notice Period; (ii) if the
                                         Adjustment Fee is paid to Employee pursuant to the Change in Control Trigger Event, and
                                         Employee’s employment is terminated during 12 months from the Change of Control,
                                         no additional Adjustment Fee will be paid, (iii) if Adjustment Fee is payable to Employee
                                         pursuant to a Change in Control Trigger Event, then the salary to be taken into account
                                         for this calculation shall be the salary prior to its reduction (if applicable).

 

		2.4	Termination for Justifiable
                                         Cause. Notwithstanding the provisions of Sections 2.2 above, the Company shall
                                         have the right to terminate this Agreement and the employer-employee relationship hereunder
                                         at any time for a Justifiable Cause (as defined below), by giving the Employee a notice
                                         of termination for cause.

 

The term “Justifiable
Cause” shall mean (a) indictment or conviction of the Employee for committing a crime; or (b) a serious breach of trust
including but not limited to theft, fraud, disclosure to unauthorized persons or entities of confidential or proprietary information
of the Company and/or the engaging by the Employee in any business competitive to the business of the Company; or (c) any breach
of Sections 4 or 5 of this Agreement; or (d) any sexual harassment; or (e) violent behavior; or (f) consistent noncompliance
with Company’s policies, orders and regulations; or (g) performance, by the Employee, of any act that entitles the Company
to dismiss her without paying her any or partial severance pay in connection with such dismissal under applicable law.

 

    3

     

    

 

		2.5	Final
                                         Settling. At the end of the employer-employee relationship, the Company and the
                                         Employee shall conduct a final settling of the Employee’s accounts to be held according
                                         to the Company’s records. Such settling of accounts shall be final and no party
                                         shall have any further claim or demand from the other party. It is agreed that, subject
                                         to the applicable laws, the Company shall be entitled to deduct any amount the Employee
                                         shall owe the Company at such time from the amounts she shall be entitled to.

 

		2.6	Release of funds.
                                         It is hereby agreed between the parties that at the end of the employment relationship,
                                         other than upon termination in circumstances justifying dismissal without any or partial
                                         severance pay under applicable law, all sums accumulated in the Employee’s pension
                                         insurance policies (after completion of payment of all premiums previously due with respect
                                         to such pension insurance policies), shall be released and transferred to the Employee.
                                         The Company and Employee agree and acknowledge that in the event the Company transfers
                                         ownership of Employee’s pension insurance policies to the Employee, the severance
                                         portion thereof shall constitute full and final payment towards any severance pay the
                                         Company may be required to pay to the Employee pursuant to the Severance Pay Law 5727-1963,
                                         and that this section is in accordance with the provisions of section 14 of the Severance
                                         Pay Law 5727-1963, and with the general approval of the labor minister, dated June 30,
                                         1998 (issued in accordance with the said section 14).

 

		2.7	Return of Equipment.
                                         At the end of the employer-employee relationship the Employee shall return to the Company
                                         any and all documents, professional literature, equipment and property belonging to the
                                         Company, which may be in Employee’s possession at such time. Should the Employee
                                         refuse and/or fail to do so, the Company shall have the right, in addition to any other
                                         remedy available under any law, to offset the value of such property (as shall be determined
                                         solely by the Company) from the amounts (if any) that the Employee might be entitled
                                         to.

 

		2.8	Degree
                                         of Trust. Employee understands and acknowledges that due to the nature of his
                                         work and duties, she may be required to work during overtime hours. Employee further
                                         acknowledges that since her positions involved a high and special degree of trust, and
                                         since the Company cannot keep specific track of all of the Employee’s overtime
                                         hours, the provisions of Work and Rest Law, 5711-1951 regarding overtime pay shall not
                                         apply to Employee, and that the Base Salary has been determined while taking into account
                                         reasonable capacity of overtime work by Employee.

 

    4

     

    

 

		3.	Base
                                         Salary and benefits

 

		3.1	Base Salary

 

3.1.1
General. The Company shall pay the Employee a Base monthly
salary in the amount set forth in Appendix 1 (the “Base Salary”). As detailed below, the Base Salary is inclusive
of overtime payment and special non-competition monthly compensation (as such terms are defined below). It is clarified that the
Base Salary alone shall be taken into account in calculating and determining Employees social and/or fringe benefits (including
with respect to any allocation in favor of pension, severance and/or education fund).

 

The Base Salary shall be comprehensive
and all-inclusive and it shall be deemed to embody any and all compensation the Employee shall be entitled to in connection with
her employment by the Company.

 

3.1.2 Payment. The
Base Salary for each month shall be payable until the 9th calendar day of the following calendar month.

 

3.1.3
Occasional Benefits. Any benefit, of any kind, granted to the Employee by the Company and which is not specified
in this Agreement (a “Benefit”), shall be deemed as a non-recurring event, and shall neither give rise to any new
right of the Employee, nor constitute a practice and/or custom and/or precedent between the parties which shall obligate the Company
on any additional and/or other occasions. It is hereby agreed, that any such Benefit shall be a supplement above and beyond the
Employee’s Base Salary, and shall not to be taken into account for the purpose of calculating the Employee’s social
entitlements or rights.

 

3.1.4 Tax Deductions.
The Company shall legally deduct and withhold income tax payments and any other obligatory payments, such as social security and
health insurance, from all the payments, which shall be paid to the Employee in accordance with this Agreement and as required
by law at such time.

 

		3.2	Non-Competition
                                         Compensation. The Employee acknowledges that an amount equal to 10% of the Base
                                         Salary is paid to her as a special supplementary monthly compensation in consideration
                                         for the Employee’s obligation not to perform any Competitive Activity (as stated
                                         in Section 4 to Appendix 2 hereto; the “Special Non-Competition Compensation”).
                                         The specific amount of Non-Competition Compensation (which may be updated pursuant to
                                         any change in the Base Salary amount) is detailed in Appendix 1. The Employee
                                         warrants and represents that the Special Non-Competition Compensation amount constitutes
                                         real, appropriate and full compensation for any prejudice she may suffer due to her obligation
                                         not to engage with any competitive activity, including but not limited to restriction
                                         of her freedom of employment.

 

		3.3	Recuperation Pay.
                                         The Employee shall be entitled to Recuperation Pay (“Dmey Havra’a”)
                                         in accordance with the applicable law.

 

		3.4	Vacation. The Employee
                                         shall be entitled to the number of work days’ vacation in each calendar year, as
                                         set forth in Appendix 1. The Employee is obligated to use at least seven (7) consecutive
                                         vacation days during each calendar year, commencing on the Commencement Date (as defined
                                         in Appendix 1) and during each calendar year thereafter. To the extent permitted by law,
                                         unused vacation days may be carried forward from one calendar year to the next. Any vacation
                                         days that are unused within two (2) years following the year in which they were accumulated,
                                         shall expire.

 

		3.5	Sick
                                         Leave. The Employee shall be entitled to paid sick leave according to the law
                                         or in accordance with the Company’s policies, as amended from time to time.

 

    5

     

    

 

		3.6	Pension Insurance.

 

The Company and the Employee will
obtain and maintain Managers Insurance and/or a comprehensive Pension Fund according to the Employee’s choice (“Pension
Insurance”). The Employee is entitled to receive the Company’s contribution for her Pension Insurance Policies (Pension
Funds and/or Managers Insurance) from the date indicated in Appendix 1:

 

3.6.1 The Company shall affect
a Pension Insurance Policy (the “Policy”) for the Employee, and shall pay the percentages detailed in Appendix
1 towards such Policy, on account of severance pay and Tagmulim.

 

3.6.2 The Company shall make additional
payments, as detailed in Appendix 1, on account of disability insurance, in accordance with Company’s policies.

 

3.6.3 Unless otherwise is indicated
in Appendix 1, the Company shall deduct the percentage set forth in Appendix 1 from the Base Salary for Pension Insurance
to be paid on behalf of the Employee towards such Policy.

 

It is clarified that the Employee
shall bear any and all taxes, which may apply with respect to any contribution, which exceeds the recognized tax ceilings with
respect to the Pension Insurance.

 

		3.7	Education
                                         Fund. The Employee is entitled to Education Fund payments from the date indicated
                                         in Appendix 1 (if at all) as follows:

 

3.7.1 The Company shall pay a
sum equal to a percentage that is detailed in Appendix 1 of the Base Salary for Education Fund and (ii) shall deduct a
percentage that is detailed in Appendix 1 from the Base Salary for Education Fund to be paid on behalf of the Employee
toward a further education fund. Use of this fund shall be in accordance with the policies of the relevant fund.

 

3.7.2 With respect to Education
Fund payment, the Employee may elect that the salary base of calculation shall be less than the Base Salary. In such event, the
balance between the amounts that would have be allocated by the Company towards such Education Fund had the entire Base Salary
would have been taken into account, and the amount actually allocated by the Company pursuant to the Employee’s request
shall be paid as an additional compensation (gross) together with the Base Salary and shall not be taken into account with respect
to any social or fringe benefit such as pension, severance payments, education fund etc., and will not be considered as part of
the Base Salary for all intents and purposes. In such case, the Employee will inform the Company of such request and will sign
a written consent.

 

    6

     

    

 

		3.8	Military
                                         Reserve Duty. The Employee shall inform the Company of any military reserve duty
                                         the Employee has been ordered to perform, immediately after she has been notified of
                                         the same. The Employee undertakes to provide the Company with proper confirmation of
                                         active military reserve duty, so that the Company may collect from the national insurance
                                         institute all amounts to which the Employee or the Company is entitled in connection
                                         with such service.

 

		3.9	Cellular Phone. The
                                         Company will provide the Employee with a personal cellular phone and shall bear expenses
                                         associated with the usage of the employee’s personal cellular phone as indicated
                                         in Appendix 1. Any tax withholding arising out of this reimbursement shall be
                                         solely borne by the employee.

 

		3.10	Vehicle. In order
                                         to fulfill its duties, the Company will provide the Employee with a private car as indicated
                                         in Appendix 1 or a similar executive vehicle at the Company’s sole discretion or
                                         reimburse the Employee’s car expenses in a fix amount as indicated in Appendix
                                         1 in case the Employee will decide to use her personal car. The Company will bear all
                                         the payments to the leasing company as well as all the current expenses involved in the
                                         maintenance of the vehicle, including fuel, parking, insurance, a subscription to travel
                                         on toll roads and the like. It is hereby clarified that the Employee shall be entitled
                                         to continue to hold and use the vehicle during the period of prior notice, whether in
                                         the event of dismissal or in the event of resignation, whether she worked during these
                                         periods or not.

 

		3.11	Stock based awards.

 

During the term of this Agreement,
subject to the below approvals, the Employee shall be entitled to participate in any of Pluristem Therapeutics Inc.’s (the
“Parent Company”) equity compensation plans, whether currently in existence or as may be adopted in the future by the Parent
Company’s shareholders, from time to time (the “Plan”), and may be granted such awards, pursuant to any relevant
grant instruments, that may be granted in accordance with the Plan (the “Awards”) as shall be determined by the Board
and/or the Parent Company’s Compensation Committee. It is hereby clarified that the grant of the Awards is subject to (a)
the approval of the Parent Company’s Board of Directors and/or Compensation Committee and (b) execution of any documents
required pursuant to applicable law and the terms of the Plan, including execution of a grant Award agreement, and an irrevocable
proxy. The terms of the Award, including but not limited to, the number of Awards granted, the exercise price, vesting period,
adjustments and exercise period shall be determined in accordance with the provisions of the Plan and the executed grant Award
agreement.

 

Employee shall be entitled to
immediate acceleration of the unvested Awards in the following circumstances: (i) in case of the termination of the Company of
this Employment Agreement, 100% of any unvested Awards; (ii) in case of the termination of Employee of this Employment Agreement,
50% of any unvested Awards; and (iii) in the event of a Change of Control (as hereinafter defined) of the Parent Company (or the
Company), 100% of any unvested Awards.

 

    7

     

    

 

For purposes of this Agreement,
“Change of Control” shall mean the occurrence of any of the following: (i) any one person, or more than one person
acting as a group, acquires ownership of stock of the Parent Company that, together with stock held by such person or group, constitutes
more than thirty percent (30%) of the total voting power of the stock of the Parent Company; (ii) any consolidation or merger
of the Parent Company into another corporation or entity where the stockholders of the Parent Company, immediately prior to the
consolidation or merger, would not, immediately after the consolidation or merger, beneficially own, directly or indirectly, securities
representing in the aggregate more than fifty percent (50%) of the combined voting power of all the outstanding securities of
the surviving corporation (or of its ultimate parent corporation, if any); (iii) the sale, lease or other transfer of all or substantially
all of the Parent Company’s assets to an independent, unaffiliated third party in a single transaction or a series of related
transactions; or (iv) the date that a majority of the members of the Parent Company’s Board of Directors is replaced during
any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Parent
Company’s Board of Directors prior to the date of the appointment or election.

 

Any tax imposed on Employee with
respect to the grant and/or the exercise of the Award shall be borne by the Employee.

 

		3.12	[RESERVED]

 

		3.11	Target Bonus. Subject
                                         to meeting milestones determined annually by the Company’s Compensation Committee
                                         and/or the Board, the Employee shall be entitled to a performance bonus in a gross amount
                                         of up to five and a half times the Base Salary.

 

		3.12	Special Bonus. Employee
                                         shall be entitled to receive performance based bonus of 0.5% of the sums actually received
                                         by the Company during the Term, as well as the Notice Period and Adjustment Period, in
                                         case of: (i) consummation of a merger, acquisition or sale of all or substantially all
                                         of the outstanding securities or assets of the Company; (ii) non-diluting funding; and
                                         (iii) any other significant corporate transactions, including the equity component of
                                         such transaction, as determined by the Parent Company’s Board of Directors. Employee
                                         is entitled to receive such Special Bonus on events that materialized during the Notice
                                         Period and during the Adjustment Period. In addition, the Employee shall be entitled
                                         to up to the equivalent of three times the Base Salary at the discretion of the Board
                                         for extraordinary performance or achievements. 

 

		3.14.	D&O Insurance and indemnification.
                                         The Company agree to continue and maintain a directors’ and officers’ liability
                                         insurance policy covering the Employee at a level, and on terms and conditions, no less
                                         favorable to her than the coverage the Company provides other similarly-situated executives
                                         or directors until such time as suits against the Employee are no longer permitted by
                                         law. Furthermore, the Company shall act to provide indemnification to the Employee in
                                         his capacity as an officer of the Company.

 

    8

     

    

 

		4.	proprietary
                                         information AND WORK PRODUCT; EQUIPMENT

 

		4.1	Non-Disclosure and Non-Competition
                                         Agreement. Concurrently with the execution of this Agreement, the Employee is
                                         executing the Non-Disclosure and Non-Competition Agreement, which is attached hereto
                                         as Appendix 2, and which is an integral part hereof.

 

		4.2	Monitoring of Systems.
                                         The Company’s Systems (as defined below) or access which is provided to the Employee
                                         are and shall remain the sole property of the Company. The Employee shall use such Systems
                                         for business purposes only. To ensure the security of such Systems and to protect the
                                         Company’s confidential and proprietary information, the Company reserves the right,
                                         and the Employee hereby agrees that the Company and anyone on its behalf may, at any
                                         time and for any purpose, monitor the Employee’s use of the Systems and monitor,
                                         copy, transfer and disclose all electronic communications and content transmitted by
                                         or stored in such Systems, regardless of the location, time or purpose of such use (other
                                         than protected private use in accordance to law). For the purposes of this Section 4.2,
                                         “Systems” include any equipment and software of any kind, including
                                         Employee’s computer, Company’s mailbox, Company’s and/or Employee’s
                                         telephone, etc. Employee acknowledges and approves that the provisions of this Section
                                         4.2 are reasonable in light of the Employee’s position with the Company, in the
                                         course of which the Employee has and shall gain broad knowledge of the Company’s
                                         proprietary information.

 

		4.3	Employee understands and acknowledges
                                         that for internal corporate, HR, finance and enterprise reasons, Company may share, transfer,
                                         convey and make available certain personal information of the Employee (such as personal
                                         and demographic information, financial, personal records, or other personally identifiable
                                         information) (collectively: the “Employee Information”) to the Parent and
                                         its respective personnel, consultants, advisors and officers. Employee further understands
                                         that Parent is operating outside the EEA and as such is not subject to privacy rules
                                         applicable in Israel and/or EEA. Nevertheless, Company shall take all reasonable efforts
                                         to make sure that the Parent maintains and treats the Employee Information in standards
                                         no less stringent than the privacy standards and requirements which apply to the Company.

 

		4.4	Survival. Sections 4
                                         above will remain in full force and effect after termination of this Agreement.

 

		5.	warranties

 

		5.1	The Employee has the knowledge,
                                         abilities and skills required to perform the duties of her position.

 

		5.2	The Employee shall inform the Company,
                                         immediately upon becoming aware of any matter in which she or a member of her immediate
                                         family or affiliate has a personal interest or which might create a conflict of interests
                                         with her duties under this Agreement.

 

    9

     

    

 

		5.3	In carrying out her duties under
                                         this Agreement, the Employee shall not make any representations, or give any guaranties
                                         on behalf of the Company, except as authorized to do.

 

		5.4	The Employee represents and warrants
                                         that on the effective date she will be free to provide services to the Company upon the
                                         terms contained in this Agreement and that there are no employment contracts, consulting
                                         contracts or restrictive covenants preventing full performance of her duties hereunder.

 

		5.5	The Employee represents and warrants
                                         that she will not use during the course of her employment with the Company any trade
                                         secrets or proprietary information that is the property of her previous employer(s) in
                                         such a manner that may breach any confidentiality or noncompetition agreement or other
                                         obligation the Employee may have with such former employer(s).

 

		6.	general
                                         provisions

 

		6.1	In this Agreement words importing
                                         the masculine gender shall include the feminine gender.

 

		6.2	This Agreement shall not be amended,
                                         modified or varied by any oral agreement or representation or otherwise than by written
                                         instrument executed by either parties or their duly authorized representatives.

 

		6.3	This Agreement is personal to the
                                         Employee, and the Employee shall not assign or delegate her rights or duties to a third
                                         party, whether by contract, will or operation of law, without the Company’s prior
                                         written consent.

 

		6.4	This Agreement shall inure to the
                                         benefit of the Company’s successors and assigns.

 

		6.5	Each notice and/or demand given
                                         by one party pursuant to this Agreement shall be given in writing and shall be sent by
                                         registered mail to the other party at the address appearing in the caption of this Agreement,
                                         and such notice and/or demand shall be deemed given at the expiration of seven (7) days
                                         from the date of mailing by registered mail or immediately if delivered by hand. Such
                                         address shall be effective unless notice of a change in address is provided by registered
                                         mail to the other party.

 

		6.6	It is hereby agreed between the
                                         parties that the laws of the State of Israel shall apply to this Agreement. The legally
                                         authorized courts in the district of Tel Aviv, Israel, shall have exclusive jurisdiction
                                         over the parties hereto and subject matter hereof.

 

		6.7	No Waiver. No delay, failure, or
                                         forbearance to exercise any right, power, or remedy accruing to either party upon breach
                                         or default under this Agreement shall be deemed a waiver of any prior or subsequent breach
                                         or default of this Agreement, nor affect the validity of any provision of this Agreement.

 

    10

     

    

 

		6.8	Integration. This Agreement sets
                                         forth the entire agreement between the parties on the subject hereof and supersedes any
                                         previous oral or written agreements, understandings, memoranda, emails, letters or representations
                                         on the subject matter hereof.

 

		6.9	Severance. If any one or more of
                                         the terms of this Agreement shall for any reason be held to be invalid or unenforceable,
                                         such term shall be construed in a manner to enable it to be enforced to the extent compatible
                                         with applicable law. Any determination of the invalidity or unenforceability of any provision
                                         of the Agreement shall not affect the remaining provisions hereof unless the business
                                         purpose of this Agreement is substantially frustrated thereby.

 

		6.10.	The Company is not a party to any Collective
                                         Agreement.

 

		6.11.	The above and the said in the
                                         appendices shall be without prejudice to any right conferred to the Employee by any law,
                                         Extension Order or Collective Bargaining Agreement which apply to the Employee.

 

[signature page follows]

 

    11

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Agreement as of the day and year first above written:

 

	/s/
    Yaky Yanay   /s/ Zami Aberman	 	/s/
    Chen Franco-Yehuda
	Pluristem
    Ltd.	 	Chen
    Franco-Yehuda
	 	 	 
	Date:
    September 10, 2020	 	Date:
    September 10, 2020

 

    12

     

    

 

Appendix 1

 

	1	Employee
    Personal Details	Full
        Name: Chen Franco

        I.D. Number:
        038749859,

        Date of
        Birth: 13 August 1983,

	2	Position
        in the Company

        Direct manager
	CFO, Secretary
        and Treasurer

        CEO

	3	Commencement
    Date	September
    10, 2020
	4	Period
    of prior notice (mutual) 	90
    days 
	 	Adjustment
    Period	3
    months, and up to additional 3 months as defined at Section 2.3
	5	Base
    Salary:	42,000
    NIS; increasing to 65,000 NIS effective January 1, 2021
	6	Yearly
    Vacation Days	23
    Days
	7	Pension
    Insurance 	Entitled
    
	Ø    For
    severance pay	8.33%
    of Base Salary
	Ø    For
    Tagmulim	6.5% of
        Base Salary for Pension Fund

        No less
        than 6.5% and not more than 7.5% of Base Salary for Mangers Insurance

	Ø    For
    disability insurance	Not
    more than 2.5% of Base Salary but in accordance with the applicable plan that was selected by the Company.
	 	Ø    Deduct
    from Employee (on account of Tagmulim)	6% of Base
        Salary for Manager’s Insurance or Pension Fund

         

	8	Education
    Fund	Entitled
    
	Ø    Payment
    by Company	7.5 % of
        Base Salary for Education Fund, unless the Employee decides that such percentage will be calculated on a lower amount
        of Base Salary as described at 3.7.2

	Ø    Deduct
    from Employee (on account of education fund)	2.5 % of
        Base Salary for Education Fund, unless the Employee decides that such percentage will be calculated on a lower amount
        of Base Salary as described at 3.7.2

	9	Cellular
    Telephone	Entitled
    to Cellular phone and reimbursement relevant expenses
	10	Vehicle	Mazda
    CX-5 or a model equivalent, in accordance with company policy or a fixed amount of NIS 4,000
	11	Special
    Bonus	Upon the
        completion of each non-dilutive funding and other transaction as defined in Section 3.12, which may include, among other
        things, corporate partnering and strategic deals, after the date hereof, a special bonus equal to 0.5% of the amounts
        actually received in such funding. In addition, the Employee shall be entitled to up to the equivalent of three times
        the Base Salary at the discretion of the Board for extraordinary performance or achievements.

	13.
    	Target
    Bonus	Subject
    to meeting milestones determined annually by the Company’s Compensation Committee and/or the Board, the Employee shall
    be entitled to a performance bonus in a gross amount of up to five and a half times the Base Salary.

 

	/s/
    Yaky Yanay   /s/ Zami Aberman	 	/s/
    Chen Franco-Yehuda 
	Pluristem
    Ltd.	 	THE EMPLOYEE
    Chen Franco-Yehuda
	 	 	 
	Date: September
    10, 2020	 
	Date: September
    10, 2020

 

    13

     

    

 

Appendix 2

 

Non-Disclosure and Non-Competition Agreement

 

I acknowledge that as a result of my employment
by Pluristem Ltd. (the “Company”), I may develop, receive, or otherwise have access to confidential or proprietary
information that is of value to the Company. I therefore agree, as a condition of my employment, as follows:

 

		1.	Non
                                         - disclosure

 

		1.1.	Recognition of Company’s
                                         Rights; Non - disclosure. At all times during my employment and thereafter, I will
                                         hold in strictest confidence and will not disclose, disseminate, use, copy, lecture upon
                                         or publish in any manner or fashion whatsoever, any of the Company’s Proprietary
                                         Information (as such term is defined below), except as such disclosure, use or publication
                                         may be required in connection with my work for the Company, or unless an officer of the
                                         Company expressly authorizes such in writing in advance. I will obtain the Company’s
                                         written approval before publishing or submitting for publication any material (written,
                                         verbal, or otherwise) that relates to my work at the Company and/or incorporates any
                                         Proprietary Information. I hereby assign to the Company any rights I may have or acquire
                                         in such Proprietary Information and recognize that all Proprietary Information shall
                                         be the sole property of the Company and its assigns.

 

		1.2.	Proprietary Information.
                                         The term “Proprietary Information” shall mean any and all confidential
                                         and/or proprietary knowledge, data or information of the Company. By way of illustration
                                         but not limitation, “Proprietary Information” includes (a) trade secrets,
                                         inventions, pending patents, mask works, ideas, processes, formulas, source and object
                                         codes, data, programs, other works of authorship, know-how, improvements, inventions,
                                         discoveries, developments, designs and techniques (excluding inventions that are not
                                         assignable under Section 2.4, hereinafter collectively referred to as “Inventions”);
                                         and (b) information regarding plans for research, development, new products, marketing
                                         and selling, business plans, budgets and any unpublished financial statements and/or
                                         information, licenses, strategies, forecasts and projections, prices and costs, suppliers
                                         and customers; (c) information regarding the skills and compensation of other employees,
                                         management or other personnel of the Company; and (d) information that is disclosed in
                                         the furtherance of the business of the Company including, without limitation, the area
                                         of activity in which the Company is involved, the Company’s technical, business
                                         and financial information, documentation, records, files, memoranda, reports, drawings,
                                         plans, price lists, customer lists, and the like. Notwithstanding the foregoing, it is
                                         understood that, at all such times, I am free to use information which is generally known
                                         in the trade or industry, which is not gained as result of a breach of this Agreement,
                                         to whatever extent and in whichever way I wish.

 

		1.3.	Third Party Information.
                                         I understand, in addition, that the Company has received and in the future will receive
                                         from third parties confidential or proprietary information (“Third Party Information”)
                                         subject to a duty on the Company’s part to maintain the confidentiality of such
                                         information and to use it only for certain limited purposes. During the term of my employment
                                         and thereafter, I will hold Third Party Information in the strictest confidence and will
                                         not disclose to anyone (other than Company personnel who need to know such information
                                         in connection with their work for the Company) or use, except in connection with my work
                                         for the Company, Third Party Information unless expressly authorized by an officer of
                                         the Company in writing.

 

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		1.4.	No Improper Use of Information
                                         of Prior Employers and Others. During my employment with the Company, I will not
                                         improperly use or disclose any Proprietary Information and/or confidential information
                                         or trade secrets, if any, of any former employer or any other person to whom I have an
                                         obligation of confidentiality, and I will not bring onto the premises of the Company
                                         any unpublished documents or any property belonging to any former employer or any other
                                         person to whom I have an obligation of confidentiality unless consented to in writing
                                         by that former employer or person.

 

		2.	Assignment
                                         of Inventions

 

		2.1.	Proprietary Rights. The
                                         term “Proprietary Rights” shall mean all trade secret, patent, copyright,
                                         mask work and other intellectual property rights throughout the world.

 

		2.2.	Prior Inventions. I hereby
                                         confirm that I have transferred and assigned in whole to the Company any and all of my
                                         rights, title and interest in any and all Inventions, which are currently being used
                                         or contemplated to be used by the Company on the date hereof. Notwithstanding the foregoing,
                                         other than inventions referred to in the immediately preceding sentence, inventions,
                                         if any, patented or unpatented, which I made prior to the commencement of my employment
                                         with the Company (“Prior Inventions”) are excluded from the scope of this Agreement.
                                         If, in the course of my employment with the Company, I incorporate a Prior Invention
                                         into a Company product, process or machine, the Company is hereby granted and shall have
                                         a nonexclusive, royalty-free, irrevocable, perpetual, unlimited worldwide license (with
                                         rights to sublicense through multiple tiers of sublicenses) to make, have made, modify,
                                         use and/or sell and/or otherwise use as the Company may wish, such Prior Invention. Without
                                         derogating from the foregoing, I agree that I will not incorporate, or permit to be incorporated,
                                         Prior Inventions in any Company Inventions without the Company’s prior written
                                         consent.

 

Prior
Inventions: _________ [Please List all Prior Inventions (if any)]

 

		2.3.	Assignment of Inventions.
                                         I will promptly disclose to the Company, or any persons designated by it, all Inventions
                                         made or conceived or reduced to practice or learned by me, either alone or jointly with
                                         others, during the employment term, as a result of tasks assigned by the Company or as
                                         a result of the use of premises and/or equipment owned, leased, or contracted for by
                                         the Company. Furthermore, subject to Section 2.4, I hereby assign and agree to assign
                                         in the future (when any such Inventions or Proprietary Rights are first reduced to practice
                                         or first fixed in a tangible medium, as applicable) to the Company all my right, title
                                         and interest in and to any and all Inventions (and all Proprietary Rights with respect
                                         thereto) whether or not patentable or registrable under copyright or similar statutes,
                                         made or conceived or reduced to practice or learned by me, either alone or jointly with
                                         others, during the period of my employment with the Company and which are connected and/or
                                         related to the Company’s business and which have been created or developed as part
                                         of my work for the Company. Inventions assigned to the Company, or to a third party as
                                         directed by the Company pursuant to this Section 2, are hereinafter referred to
                                         as “Company Inventions”.

 

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		2.4.	Government or Third Party.
                                         I also agree to assign all my right, title and interest in and to any particular Company
                                         Invention to any third party, including without limitation government agency, as directed
                                         by the Company.

 

		2.5.	Works made for Hire.
                                         I further acknowledge that all original works of authorship which are made by me (solely
                                         or jointly with others) within the scope of and during my employment with the Company
                                         are “works made for hire” as contemplated under Chapter H of the Patents
                                         Law of 1967 (the “Patents Law”), that all such “works made for hire”
                                         are owned by the Company, its successors, assigns or nominees, and that I shall not be
                                         entitled to any compensation, other than the Base Salary, for creation or assignment
                                         of the same to the Company, its successors, assigns or nominees; it being acknowledged
                                         and agreed that the Base Salary and all other employment terms under the Employment Agreement
                                         shall constitute the sole consideration and remuneration for any Inventions, including,
                                         without limitation, “works made for hire”, regardless of the current or future
                                         value of the Invention. I understand and agree that the decision whether or not to commercialize
                                         or market any invention developed by me (including the Inventions), solely or jointly
                                         with others, is within the Company’s sole and unfettered discretion and for the
                                         Company’s sole benefit and that no royalty will be due to me as a result of the
                                         Company’s efforts to commercialize or market any such invention (including the
                                         Inventions). This Section 2.5 shall be deemed as an “agreement” for purposes
                                         of Section 134 of the Patents Law. Furthermore, Employee waives any right to receive
                                         any notice by Company regarding any Inventions pursuant to Section 132 of the Patents
                                         Law.

 

		2.6.	I acknowledge and agree that
                                         in event that, notwithstanding the agreement stipulated herein, it will be decided by
                                         a competent authority, court or any other competent tribunal, either due to my application
                                         or any other source, that I may deserve additional compensation for Company Inventions,
                                         in addition to any amounts paid to me by the Company under and according to my employment
                                         agreement (a “Claim”), my Base Salary (as defined in the Agreement) shall
                                         be reduced, retroactively effective as of the date of the beginning of my employment
                                         by the Company to an amount equal to 80% (eighty percent) of the Base Salary actually
                                         paid to me by the Company (the “Agreed Alternative Payment”) and I shall
                                         be obligated to return to the Company, on the day the Claim was made and/or the demand
                                         which contradicts this Agreement was made, all additional amounts that I received from
                                         the Company beyond the Agreed Alternative Payment, retroactively from my employment Start
                                         Date onward (the “Excess Amount”), plus interest as of the original date
                                         of payment thereof. I acknowledge that the Company shall be entitled to set off such
                                         Excess Amounts against all amounts that I shall be entitled to under the Agreement, or
                                         under the decision of the Court or of any other competent tribunal or authority. Such
                                         set-off shall not derogate from the Company’s right to collect any additional amounts
                                         from me.

 

In
addition, I undertake, by signing this Agreement that I will not, directly or indirectly, make a claim and /or sue and/or demand,
from the Company and/or any of its officers, employees and shareholders any additional compensation for creation or assignment
of Inventions beyond the amounts paid to me by the Company according to my Employment Agreement.

 

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		2.7.	Copyright Works. Without
                                         derogating from the forgoing, I acknowledge that all original works of authorship which
                                         are made by me (solely or jointly with others) within the scope of my employment and
                                         which are protectable by copyright are the property of the Company pursuant to applicable
                                         copyright law.

 

		2.8.	Enforcement of Proprietary
                                         Rights. I will assist the Company in every proper way to obtain, and from time to
                                         time enforce, any Proprietary Rights relating to Company Inventions in any and all countries.
                                         To that end I will execute, verify and deliver such documents and perform such other
                                         acts (including appearances as a witness) as the Company may reasonably request for use
                                         in applying for, obtaining, perfecting, evidencing, sustaining and enforcing such Proprietary
                                         Rights and the assignment thereof. In addition, I will execute, verify and deliver assignments
                                         of such Proprietary Rights to the Company or its designee. My obligation to assist the
                                         Company with respect to Proprietary Rights relating to such Company Inventions in any
                                         and all countries shall continue beyond the termination of my employment, but the Company
                                         shall compensate me at a reasonable rate, to be discussed with the Company, after my
                                         termination for the time actually spent by me at the Company’s request on such
                                         assistance, subject to my consent, which will not be withheld for unreasonable reasons.

 

		2.9.	Power of Attorney. In
                                         the event the Company is unable for any reason, after reasonable effort, to secure my
                                         signature on any document needed in connection with the actions specified in Section
                                         2.8 hereof, I hereby irrevocably designate and appoint the Company and its duly authorized
                                         officers and agents as my agent and attorney in fact, which appointment is coupled with
                                         an interest, to act for and in my behalf to execute, verify and file any such documents
                                         and to do all other lawfully permitted acts to further the purposes of the preceding
                                         paragraph with the same legal force and effect as if executed by me. I hereby waive and
                                         quitclaim to the Company any and all claims, of any nature whatsoever, which I now or
                                         may hereafter have for infringement of any Proprietary Rights assigned hereunder to the
                                         Company.

 

		3.	Records

 

I agree to keep and maintain
adequate and current records (in the form of notes, sketches, drawings and in any other form that may be required by the Company)
of all Proprietary Information developed by me and all Inventions made by me during the period of my employment at the Company,
which records shall be available to and remain the sole property of the Company at all times.

 

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		4.	Competitive
                                         Activities 

 

I acknowledge that I have carefully
reviewed the provisions of this Agreement, the Employment Agreement and the appendices thereof, fully understand the consequences
thereof, and have assessed the respective advantages and disadvantages to me in entering into this Agreement. In light of the
aforesaid, I agree that, during the period of my employment by the Company and for a period of one (1) year thereafter, I will
not, directly or indirectly, carry on or engage in any employment or business activity, or hold an interest in any business, either
as an employee, owner, partner, agent, shareholder, director, consultant or otherwise, which is competitive with the business
of the Company (“Competitive Activity”). I agree further that for the period of my employment by the Company and for a
period of one (1) year thereafter, I will not induce, solicit, employ or entice away or endeavor to solicit, employ or entice
away any employee of the Company to leave the employ of the Company or to perform any Competitive Activity. In addition, I agree
not to solicit, canvass or approach or endeavor to solicit, canvass or approach any person who was provided with services by the
Company or its subsidiaries, or has provided services to the Company or its subsidiaries, at any time during the twelve (12) months
immediately prior to the termination date of this Agreement, for the purpose of offering services which are competitive with those
provided by the Company. I acknowledge that due to my position, the Proprietary Information I am and shall be exposed to and the
nature of the business of the Company - any Competitive Activity performed by me will severely harm the legitimate rights and
interests of the Company, including but not limited to its Proprietary Rights. In light of all the foregoing I acknowledge that
this non-competition undertaking is reasonable, proportional and does not exceed the minimum required to protect the Company’s
legitimate rights and interests. I warrant and represent that the Special Non-Compensation Monthly Compensation (as such term
is defined in the Employment Agreement) constitutes a real, appropriate and full consideration to any prejudice I may suffer due
to my undertaking not to engage with any Competitive Activity, including but not limited to any restriction to my freedom of employment.

 

		5.	No
                                         Conflicting Obligation

 

I represent that my performance
of all the terms of this Agreement and as an employee of the Company does not and will not breach any agreement to keep in confidence
information acquired by me in confidence or in trust prior to my employment by the Company. I have not entered into, and I agree
not to enter into, any agreement, written or oral in conflict herewith.

 

		6.	Return
                                         of Company Documents

 

When I leave the employ of
the Company, I will deliver to the Company any and all drawings, notes, memoranda, specifications, devices, formulas, and documents,
together with all copies thereof, and any other material containing or disclosing any Company Inventions, Third Party Information
or Proprietary Information of the Company.

 

		7.	Notification
                                         of New Employer 

 

In the event that I leave the
employ of the Company, I hereby consent to the notification of my new employer of my rights and obligations under this Agreement.

 

		8.	General
                                         Provisions

 

		8.1.	Severability. I acknowledge
                                         that the provisions of this Agreement serve as an integral part of the terms of my employment
                                         and reflect the reasonable requirements of the Company in order to protect its legitimate
                                         interests with respect to the subject matter hereof. In case any one or more of the provisions
                                         contained in this Agreement shall, for any reason, be held to be invalid, illegal or
                                         unenforceable in any respect, such invalidity, illegality or unenforceability shall not
                                         affect the other provisions of this Agreement, and this Agreement shall be construed
                                         as if such invalid, illegal or unenforceable provision had never been contained herein.
                                         If moreover, any one or more of the provisions contained in this Agreement shall for
                                         any reason be held to be excessively broad as to duration, geographical scope, activity
                                         or subject, it shall be construed by limiting and reducing it, so as to be enforceable
                                         to the extent compatible with the applicable law as it shall then appear.

 

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		8.2.	Successors and Assigns.
                                         This Agreement will be binding upon my heirs, executors, administrators and other legal
                                         representatives and will be for the benefit of the Company, its successors, and its assigns.

 

		8.3.	Survival. The provisions
                                         of this Agreement shall survive the termination of my employment and the assignment of
                                         this Agreement by the Company to any successor in interest or other assignee.

 

		8.4.	Waiver. No waiver by
                                         the Company of any breach of this Agreement shall be a waiver of any preceding or succeeding
                                         breach. No waiver by the Company of any right under this Agreement shall be construed
                                         as a waiver of any other right. The Company shall not be required to give notice to enforce
                                         strict adherence to all terms of this Agreement.

 

		8.5.	Entire Agreement. The
                                         obligations pursuant to Sections 1 and 2 of this Agreement shall apply to any time during
                                         which I was previously employed (if at all), am or will be in the future employed, by
                                         the Company, including as a consultant if no other agreement governs nondisclosure and
                                         assignment of inventions during such period. This Agreement is the final, complete and
                                         exclusive agreement of the parties with respect to the subject matter hereof and supersedes
                                         and merges all prior discussions or agreements between us with respect to the subject
                                         matter hereof. No modification of or amendment to this Agreement, nor any waiver of any
                                         rights under this Agreement, will be effective unless in writing and signed by the party
                                         to be charged. Any subsequent change or changes in my duties, salary or compensation
                                         will not affect the validity or scope of this Agreement.

 

		8.6.	Governing Law. This Agreement
                                         shall be governed by, and construed in accordance with the laws of the State of Israel,
                                         without giving effect to the rules respecting conflict-of-law.

 

		8.7.	Jurisdiction. The legally
                                         authorized courts in the district of Tel Aviv, Israel, shall have exclusive jurisdiction
                                         over the parties hereto and subject matter hereof.

 

This Agreement shall be effective as of
the date the Employment Agreement of the Employee was made effective.

 

I HAVE READ THIS AGREEMENT CAREFULLY AND
UNDERSTAND ITS TERMS.

ACCEPTED AND AGREED TO:

 

	 /s/
    Yaky Yanay   /s/ Zami Aberman	 	      /s/
    Chen Franco-Yehuda 
	Pluristem
    Ltd.	 	  THE
    EMPLOYEE, Chen Franco-Yehuda
	 	 	 
	Date:
    September 10, 2020	 	Date:
    September 10, 2020

 

 

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