Document:

Exhibit 10.1

 

AMENDED AND RESTATED PERSONAL EMPLOYMENT
AGREEMENT

 

THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT
(the “Agreement”) is made and entered into this 25 day of July 2017 (the “Effective Date”)
by and between LabStyle Innovation Ltd., a company incorporated under the laws of the State of Israel, with its offices at Halamish
9 Caesarea, Israel (the “Company”), and Erez Raphael (Israeli I.D. No. 025423351) residing at Tavor 135 Nofit,
Israel (the “Executive”) (the Company and the Executive, collectively, the “Parties”).

 

WHEREAS, the Parties are parties to a Personal
Employment Agreement entered into and effective as of October 11, 2012 (the “2012 Agreement”);

 

WHEREAS, the Parties amended the Original
Agreement three (3) times: as of April 13, 2013, August 30, 2013, and August 1, 2014;

 

WHEREAS, the Parties desire to fully restate
and further amend the 2012 Agreement, as amended;

 

NOW THEREFORE, in consideration of
the promises and mutual covenants and agreements of the Parties set forth herein, the Parties agree as follows:

 

1.            Employment.

 

a.             Term.

 

i.            The
term of this Agreement shall begin on the Effective Date and shall continue until the date set forth in Schedule A annexed
hereto (the “Scheduled Term”), unless earlier terminated by either party or extended as hereinafter provided.
The period commencing on the Effective Date and ending on the date on which the Executive’s employment ends pursuant to this
Agreement is referred herein as the “New Employment Term”.

 

ii.            Except
as the Parties otherwise agree in writing, if the Parties do not mutually agree in writing to extend or terminate this Agreement
on or prior to the end of the Scheduled Term, the Executive’s employment with the Company shall renew and continue for additional
one (1) year terms following expiration of the Scheduled Term, subject to the terms and conditions set forth in this Agreement.

 

b.             Title
and Duties.

 

i.            The
Executive shall continue to serve as President, Chief Executive Officer, and Chairman of the Board of Directors (the “Board”)
of the Company and Parent Company, DarioHealth Corporation (the “Parent Company”), with duties responsibilities
and authority commensurate therewith. The Executive shall report to the Board. The Executive shall perform all duties and accept
all responsibilities incident to such position as may be reasonably assigned to him by the Board, consistent with his positions.
In addition, during the New Employment Term, without compensation other than that herein provided, the Executive shall continue
to be elected and serve as a member of the Board of the Parent Company.

 

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ii.           The
Executive represents that he is not subject to or a party to any employment agreement, non-competition covenant, understanding
or restriction that would be breached by or prohibit the Executive from executing this Agreement and performing fully his duties
and responsibilities hereunder.

 

c.             Best
Efforts.

 

i.            The
Executive will be employed on a full-time basis (i.e., 45 hours per workweek). The Executive’s weekly rest day shall
be Saturday, unless otherwise determined by the Company in a written notice to the Executive. Except as provided herein, the Executive
shall devote his full time and attention to promote the business of the Company, and shall be engaged in other business activities
only to the extent that such activities do not materially interfere with his obligations to the Company or materially breach this
Agreement.

 

ii.         Notwithstanding
Section 1(c)(i) herein, nothing in this Agreement shall prohibit the Executive from (a) serving on civic, educational, philanthropic,
or charitable boards or committees; (b) serving on other corporate boards or committees, so long as such activities do not materially
violate this Agreement; (c) making and managing personal investments so long as such activities do not materially violate this
Agreement, and (d) participate as a passive co-founder of other businesses that do not materially interfere with the Executive’s
obligations to the Company or materially breach this Agreement. Further, the Company expressly acknowledges and agrees that the
affiliations and activities set forth in Schedule B annexed hereto are expressly permitted.

 

d.             Location.
Executive shall perform his duties hereunder at the Company’s facilities in Israel, but understands and agrees that his position
may involve significant domestic and international travel.

 

2.            Special
Agreement; Salary and Special Compensation; Insurance.

 

a.             Special
Agreement. The Parties agree that this Agreement is a personal agreement, and that the position the Executive holds within
the Company is a senior position which requires a special measure of personal trust, as such terms are defined in the Working Hours
and Rest Law 5711 - 1951, as amended (the “Law’). The provisions of any collective bargaining agreement which
exist or shall exist do not, and will not, apply to the employment of the Executive, whether such agreement was signed among the
government, the General Federation of Labor and Employers organizations, or any of such parties, or whether signed by others, in
relation to the field or fields of the business of the Company or in relation to the position held by or the profession of the
Executive. In light of this relationship of trust, the provisions of the Law, or any other law which may apply, will not apply
to the performance by the Executive of his duties hereunder. Thus, the Executive may be required, from time to time and according
to the work load demanded of his, to work beyond the regular working hours and the Executive shall not be entitled to any further
compensation other than as specified in this Agreement.

 

b.            Salary;
Deferred Salary.

 

i.            The
Company shall pay to the Executive as compensation for the employment services an aggregate base salary at the monthly rate set
forth in Schedule A annexed hereto (the “Salary”).

 

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ii.           The
Company shall pay the Executive the Salary or Deferred Salary, as applicable, no later than the ninth (9th) day of each
calendar month after the month for which the Salary, after deduction of applicable taxes and like payments. The Executive’s
Salary or Deferred Salary, as applicable, shall be reviewed periodically for increase by the Board (or a committee of the Board)
pursuant to the Board’s normal performance review policies for senior level executives.

 

c.             Bonus.
The Executive shall receive a cash bonus payments to the extent determined by the Board (or, as applicable, the Compensation Committee
of the Board), which additional bonus payments (if any) shall be based on the attainment of certain individual and corporate performance
goals and targets as mutually agreed between the Parties, the achievement of which will be determined by the Board (the “Bonus”).
Such Bonus shall be targeted at sixty percent (60%) of your Salary. Promptly after the Board’s receipt of the financial information
on which any such performance goals are based after the end of the fiscal year, the Board shall review actual performance against
the applicable performance goals and targets and shall notify the Executive of the amount of his Bonus. Each Bonus shall be paid
to the Executive not later than sixty (60) days following the end of the preceding fiscal
year, subject to applicable taxes and like payments. 

 

d.            Equity
Grants.

 

i.            Prior
Stock Option Grants. The Parent Company previously granted the Executive options to purchase shares of common stock of LabStyle
Innovations Corp. and its successor, DarioHealth Corp., as identified in Schedule C annexed hereto. These award and grants
shall remain in full force and effect pursuant to the applicable award documents, except to the extent otherwise specified in this
Agreement.

 

ii.         Future
Stock Option Grants. The Company may, from time to time, at its sole discretion, also grant the Executive options to purchase
additional shares of common stock in DarioHealth Corp., and/or in other entities (the “Options”). The Options
shall be subject to the terms of the DarioHealth Corp. 2012 Equity Incentive Plan and the 2012 Israeli Sub Plan thereto, as may
be amended from time to time, or any successor plans, and an Option Agreement to be executed between Parent and the Executive.
The Executive acknowledges that he may be required to execute additional documents in compliance with the applicable tax laws and/or
other applicable laws. In no event, however shall the Executive be offered Options at any less favorable basis than other senior
Company executives.

 

3.           Insurance
and Social Benefits.

 

The Company will insure the Executive under a “Manager's
Insurance Scheme” and/or a pension plan, as per the Executive’s request (the “Insurance Scheme”)
as follows: (i) the Company will pay an amount equal to five percent (5%) of the Salary towards a fund for life insurance and pension;
(ii) the Company will pay an amount of up to two and one-half percent (2.5%) of the Salary for a fund for the event of loss of
working ability ("Ovdan Kosher Avoda"); and (iii) the Company will pay an amount equal to eight and one third
percent (8 1/3%) of the Salary towards a fund for severance compensation (the “Company’s Severance Contribution”).
Similarly, at the beginning of each month the Company shall deduct from the Salary an amount equal to five percent (5%) of the
Salary for the preceding month, and shall pay such amount as premium payable in respect of the provident compensation component
of the Insurance Scheme. Additionally, the Company together with the Executive will maintain an advanced study fund (“Keren
Hishtalmut”) and the Executive and the Company shall contribute to such fund an amount equal to two and one half percent
(2.5%) of the Salary and seven and one half percent (7.5%) of the Salary, respectively. All of the Executive’s aforementioned
contributions shall be transferred to the above referred to plans and funds by the Company by deducting such amounts from each
monthly Salary payment.

 

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4.           Vacation;
Holidays; Sick Leave; Convalescence Pay.

 

a.             Executive
shall be entitled to the number of vacation days per year as set forth in Schedule A annexed hereto, as coordinated with
the Company (with unused days to be accumulated up to the limit set pursuant to applicable law). The Executive shall be entitled
to the paid time off for observance of national holidays pursuant to Schedule A annexed hereto.

 

b.             The
Executive shall be entitled to an annual medical executives’ checkup at the expense of the Company.

 

c.             The
Executive shall be entitled to a fully paid sick leave until the end of the waiting period for coverage against disability or incapacity
as defined in the Executive’s medical insurance policy.

 

d.             The
Executive shall be entitled to that number of paid sick leave per year as set forth in Schedule A (with unused days to be
accumulated up to the limit set pursuant to applicable law), and also to Convalescence Pay (“Dmei Havra’a”)
pursuant to applicable law.

 

5.           Additional
Employment Benefits.

 

a.             Expenses.
The Company shall pay or reimburse the Executive for all business expenses borne by the Executive, provided that such expenses
were approved in advance by the Company, and against valid invoices therefore furnished by the Executive to the Company, all in
accordance with the Company's policy as amended from time to time. Notwithstanding any other Company policy, all expense reimbursements
under this Agreement shall be made no later than ninety (90) days from when expenses are incurred and properly submitted for reimbursement.

 

b.             Company
Car. The Company will continue to provide the Executive with a car of make and model pursuant to the Company's car policy,
as adopted, as may be amended from time to time by the Company (the “Car”). The Car shall belong to or be leased
by the Company and shall be registered in the Company’s name for use by the Executive during the period of his employment
with the Company. The Car will be returned to the Company by the Executive following Executive’s separation from employment.
The Executive shall use the Car only in a manner that is consistent with Company policy, as the Company may be amend from time
to time. The Company shall bear all the fixed and variable costs of the Car, including licenses, insurance, gasoline, regular maintenance
and repairs. The Company shall not, at any time, bear the costs of any tickets, traffic offense or fines of any kind and insurance
self-participation payment. The Executive shall bear all the personal tax consequences of the allocation of the Car to his benefit.
Any expenses, payments or other benefits that are made in connection with the Car are not part of the Salary, for any purpose or
matter, and no social benefits or other payments shall be paid on its account. It is hereby agreed that the Executive may waive
his right to receive the Car in consideration for the receipt of additional salary in the amount determined by the Company. In
addition, the Executive will be reimbursed for his train expenses. The Company will gross up for tax purposes the employee’s
tax benefit charged to his salary for using the Company car.

 

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c.             Mobile
Phone. At the request of the Executive, the Company shall provide the Executive with a Company mobile phone for use in connection
with his duties hereunder, pursuant to Company's policy, as adopted and as may be amended from time to time by the Company (the
“Mobile Phone”). The Company shall bear all expenses relating to the Executive’s use and maintenance of
the Mobile Phone attributed to the Executive under this Section. The Executive shall bear all the personal tax consequences of
the allocation of the Mobile Phone his benefit. Any expenses, payments or other benefits that are made in connection with the Mobile
Phone shall not be regarded as part of the Salary, for any purpose or matter, and no social benefits or other payments shall be
paid on its account.

 

d.             Attorneys’
and Accountants’ Fees and Costs. The Company shall reimburse the Executive or pay directly to such attorney(ies) and
accountant(s) of the Executive’s choosing the fees and costs he incurs for legal and accounting advice and representation
with respect to formulation and execution of this Agreement. The Company shall reimburse or pay directly such fees and costs within
thirty (30) days of receipt of any invoice.

 

6.            Employment
Termination; Non-Renewal; Change of Control.

 

a.             Employment
Termination Without Cause; Resignation for Good Reason; Change of Control. If the Executive’s employment is terminated
by the Company without Cause, if the Executive resigns for Good Reason, or if the Company terminates the Executive’s employment
pursuant to or in anticipation of Change of Control (all as defined in Section 9 herein), then the following provisions of this
Section 6(a) shall apply.

 

i.            The
Company may terminate the Executive’s employment with the Company at any time without Cause upon written notice to the Executive
of not less than the duration of the Notice Period set forth in Schedule A annexed hereto. If the Company notifies the Executive
of termination without Cause, such separation from employment shall not be effective until the end of the Notice Period, and the
Executive shall be under no obligation to render any additional services to the Company and shall be allowed to seek other employment
during the Notice Period.

 

ii.            The
Executive may resign his employment with the Company for Good Reason. In such case, the Notice Period shall not apply, but the
cure period as provided in the definition of “Good Reason” shall apply.

 

iii.           The
Company may terminate the Executive’s employment pursuant to or in anticipation of a Change of Control upon the same terms
and conditions as set forth in Section 6(a)(i) herein.

 

iv.           As
of the effective termination of employment as described in Sections 6(a)(i) - (iii) herein (the “Separation Date”),
the Executive agrees to resign all positions with the Company, including as an officer and, if applicable, as a director or member
of the Board, related to the Company and its parents, subsidiaries and affiliates.

 

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v.           If
the Executive fails to provide notice of resignation for Good Reason pursuant to Section 9(d) herein, the Executive shall be entitled
to receive only the amount due to the Executive under the Company’s then current severance pay plan or arrangement for employees,
if any, but only to the extent not conditioned on the execution of a release by the Executive or such greater amount as may be
required pursuant to applicable law. Except as expressly provided herein, no other payments or benefits shall be due under this
Agreement to the Executive, but the Executive shall be entitled to receive any amounts earned, accrued and owing but not yet paid
to him and any benefits accrued and due under any applicable benefit plans and programs of the Company, in each case, subject to
and in accordance with the terms thereof.

 

vi.         Upon
the Separation Date pursuant to Sections 6(a)(i) – (iii) herein, if, within sixty (60) days following the Separation Date,
the Executive timely executes and delivers to the Company written release of claims against the Company and related parties with
respect to all matters arising out of the Executive’s employment by the Company or the termination thereof (other than claims
for any entitlements under the terms of this Agreement), in substantially the form set forth in Exhibit A hereto (the “Release”),
the Executive shall be entitled to receive the following payments and benefits in lieu of the payment described in Section 6(a)(v)
and in lieu of any other payments due under any severance plan or program for employees or executives (the “Severance
Benefits”):

 

(a)          From
the Separation Date through the balance of the Scheduled Term (if any), the Executive shall continue to receive an amount equal
to his Salary (at the rate in effect immediately before the Separation Date), provided, however, that such payments in lieu
of salary shall continue for a maximum of twenty-four (24) months (the “Salary Continuation”). Salary Continuation
shall be paid in installments during the Severance Period no less frequently than and pursuant to terms no less favorable than
the Company’s normal payroll practices. Salary Continuation payments shall commence no later than the sixtieth (60th)
day following the Separation Date.

 

(b)          Notwithstanding
Section 6(a)(vi)(a) herein, if the Executive’s employment is terminated pursuant to Sections 6(a)(i) – (iii)
herein either during the final year of the Scheduled Term or during the final six (6) months of any subsequently renewed one (1)-year
term, then the duration of Severance Period shall be twelve (12) months.

 

(c)          The
Company shall pay the Executive any earned but unpaid Bonus applicable to any past fiscal year in one (1) lump sum payment no later
than the sixtieth (60th) day following the Separation Date.

 

(d)          At
the end of the Severance Period, and simultaneous with the Company’s payment of the Executive’s final Salary Continuation
payment, the Company shall make the Executive whole with respect to any unpaid Bonus for the Scheduled Term by paying the Executive
an amount equal to any unpaid Bonus or Bonuses applicable to the remaining applicable Severance Period. For purposes of such Bonus
“make whole” payment, the Bonus shall be calculated using the Bonus the Company paid the Executive for the fiscal year
prior to the Executive’s employment termination without Cause or resignation for Good Reason.

 

(e)          Beginning
on the sixtieth (60th) day following the Separation Date, and on the first payroll date of each month thereafter during
the remainder of the Scheduled Term (if any), the Company shall pay the Executive a monthly payment equal to the premium cost for
the long and short-term disability coverage that was in effect for the Executive under plans of the Company immediately before
his termination or resignation. To the extent requested by the Executive no later than the sixtieth (60th) day following
the Separation Date, the Company shall take all action necessary, if any, to facilitate the Executive’s exercise of all conversion
and/or portability privileges, if any, under such long and short-term disability coverage.

 

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(f)          Beginning
on the sixtieth (60th) day following the Separation Date, and on the first payroll date of each month thereafter during the remainder
of the Scheduled Term (if any), the Company shall pay the Executive a monthly payment equal to the full cost of any Company life
insurance coverages in effect for the Executive immediately before his termination or resignation to maintain life insurance coverage.
To the extent requested by the Executive no later than the sixtieth (60th) day following the Separation Date, the Company shall
take all action necessary, if any, to facilitate the Executive’s exercise of all conversion privileges, if any, under such
life insurance program or policy.

 

vii.         Notwithstanding
any provision to the contrary in any applicable plan, program or agreement, all outstanding equity awards held by the Executive
as of the date of his termination of employment pursuant to this Section 6(a) shall become fully vested and exercisable as of the
Separation Date, and the Company shall ensure that such associated plan documents, agreements, Option awards, and other grant agreements
accurately reflect this understanding. In addition, any outstanding stock options held by the Executive, including any stock options
that previously became exercisable and have not expired or been exercised, shall remain exercisable, notwithstanding any provision
to the contrary in any other agreement governing such options, for the shorter of (i) the 60-month period following the date of
the Executive’s termination pursuant to this Section 6(a) and (ii) the then remaining term of such stock option, and, as
above, the Company shall ensure that such associated plan documents, agreements, Option awards, and other grant agreements accurately
reflect this understanding.

 

b.             Non-Renewal.
If the Executive’s employment terminates due to the Company’s decision not to renew this Agreement as provided in Section
1(a)(ii) herein, then the Executive shall be entitled to the Severance Benefits set forth in Section 6(a)(v) herein, except that
the Severance Period shall be twelve (12) months.

 

c.             Termination
for Cause; Resignation without Good Reason.

 

i.             The
Company may terminate the Executive for Cause, in which case the Notice Period shall not be required (but the cure period as provided
in the definition of “Cause” shall apply).

 

ii.           The
Executive may voluntarily terminate his employment for any reason upon written notice to the Company of not less than the duration
of the Notice Period set forth in Schedule A annexed hereto. During the Notice Period, the Executive shall faithfully perform
his duties for the Company unless otherwise instructed by the Company or agreed by the Parties.

 

iii.           In
the event of termination for Cause or resignation for Good Reason, the Executive’s entitlement to severance pay will be subject
to Sections 16 and 17 of the Severance Law. The Executive shall not receive any other salary or compensation except as required
by law.

 

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7.            Disability.

 

a.           If
the Executive incurs a Disability (as defined below), the Company may terminate the Executive’s employment on account of
Disability subject to the requirements of applicable law.

 

b.           If
the Company terminates the Executive’s employment on account of his Disability, the Executive shall be entitled to receive
any amounts earned, accrued and owing but not yet paid under Section 2 above and any benefits accrued and due under any applicable
benefit plans and programs of the Company, payable in accordance with the terms and conditions thereof.

 

c.           Notwithstanding
any provision to the contrary in any applicable plan, program or agreement, all outstanding equity awards held by the Executive
as of the date of his employment termination due to Disability shall become fully vested and exercisable as of such date, and the
Company shall ensure that such associated plan documents, agreements, Option awards, and other grant agreements accurately reflect
this understanding. In addition, any outstanding stock options held by the Executive, including any stock options that previously
became exercisable and have not expired or been exercised, shall remain exercisable, notwithstanding any provision to the contrary
in any other agreement governing such options, for the shorter of (i) the 60-month period following the date of the Executive’s
termination or resignation, as applicable, and (ii) the then remaining term of such stock option, and the Company shall ensure
that such associated plan documents, agreements, Option awards, and other grant agreements accurately reflect this understanding.

 

d.           If
the Executive’s employment is terminated due to Disability, payments due to the Executive pursuant to this Paragraph 7 shall
be offset by payments the Executive receives pursuant to the applicable disability insurance plans and programs that provide continuation
of Salary, Bonus, health insurance, or the like.

 

8.            Death.

 

a.           If
the Executive dies while employed by the Company, the Executive’s employment shall terminate on the date of death and the
Company shall pay to the Executive’s executor, legal representative, administrator or designated beneficiary, as applicable,
any amounts earned, accrued and owing but not yet paid under Section 2 above and any benefits accrued and due under any applicable
benefit plans and programs of the Company, payable in accordance with the terms and conditions thereof.

 

b.           Notwithstanding
any provision to the contrary in any applicable plan, program or agreement, all outstanding equity awards held by the Executive
as of the date of his employment termination due to Disability shall become fully vested and exercisable as of such date, and the
Company shall ensure that such associated plan documents, agreements, Option awards, and other grant agreements accurately reflect
this understanding. In addition, any outstanding stock options held by the Executive, including any stock options that previously
became exercisable and have not expired or been exercised, shall remain exercisable, notwithstanding any provision to the contrary
in any other agreement governing such options, for the shorter of (i) the 60-month period following the date of the Executive’s
termination or resignation, as applicable, and (ii) the then remaining term of such stock option, and the Company shall ensure
that such associated plan documents, agreements, Option awards, and other grant agreements accurately reflect this understanding.

 

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c.           Except
as provided in this Section 8(c), the Company shall have no further liability or obligation under this Agreement to the Executive’s
executors, legal representatives, administrators, heirs or assigns or any other person claiming under or through the Executive

 

d.           If
the Executive’s employment is terminated due to Death, payments due to the Executive pursuant to this Paragraph 7 shall be
offset by payments the Executive receives pursuant to the applicable Company-provided insurance plans and programs that provide
continuation of Salary, Bonus, health insurance, or the like.

 

9.            Definitions.

 

a.           For
purposes of this Agreement, “Cause” shall mean any of the following grounds for termination of the Executive’s
employment:

 

i.            conviction
of any felony by the Executive involving moral turpitude affecting the Company or its affiliates or any crime involving fraud;

 

ii.           action
taken by the Executive intentionally to materially harm the Company;

 

iii.           embezzlement
of funds of the Company or its affiliates by the Executive;

 

iv.           falsification
of the Company’s or affiliates’ records or reports by the Executive;

 

v.           failure
to follow the lawful instruction of the Board, as authorized by a majority of the Board;

 

vi.          any
material breach of the Executive’s fiduciary duties or duties of care to the Company (except for conduct taken in good faith)
which, to the extent such breach is curable, has not been cured by the Executive within fifteen (15) days after its receipt of
notice thereof from Company containing a description of the breach or breaches alleged to have occurred;

 

vii.          any
material breach of the Proprietary Information, Assignment of Inventions and Non-Competition Agreement attached as Exhibit B
by the Executive; and

 

viii.         any
other act or omission that constitutes “cause” under the laws of the State of Israel.

 

b.             Change
of Control. For purposes of this Agreement, a “Change of Control” shall be deemed to have occurred if:

 

i.            Any
“person,” as such term is used in sections 13(d) and 14(d) of United States Securities Exchange Act of 1934, as amended
(the “Exchange Act”) (other than a person who is a stockholder of the Parent Company on the effective date of
the Plan), becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly,
of securities of the Company representing more than 50% of the voting power of the then outstanding securities of the Company;
provided that a Change of Control shall not be deemed to occur as a result of a transaction in which the Company becomes a subsidiary
of another corporation and in which the stockholders of the Company, immediately prior to the transaction, will beneficially own,
immediately after the transaction, shares entitling such stockholders to more than 50% of all votes to which all stockholders of
the parent corporation would be entitled in the election of directors; or

 

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ii.          
During any period of two consecutive years, individuals who at the beginning of such period were members of the Board of Directors
of the Company cease for any reason to constitute at least a majority thereof (unless the appointment, election, or the nomination
for election by the Company’s stockholders, of each director elected during such consecutive two-year period was approved
by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of such period); or

 

iii.          The
consummation of (a) a merger or consolidation of the Company with another corporation where the stockholders of the Company, immediately
prior to the merger or consolidation, will not beneficially own, immediately after the merger or consolidation, shares entitling
such stockholders to more than 50% of all votes to which all stockholders of the surviving corporation would be entitled in the
election of directors, (b) a sale or other disposition of all or substantially all of the assets of the Company, or (c) a liquidation
or dissolution of the Company.

 

c.            Disability.
Disability shall be defined as the Executive’s permanent inability to perform his job duties to the Company. Such Disability
shall be verified by a medical professional at the request of the Company.

 

d.            Good
Reason. The occurrence of one or more of the following actions; provided, however, that the Executive shall give the Company
not less than 30 days’ prior written notice of such resignation setting forth in reasonable specificity the event that constitutes
Good Reason, which written notice, to be effective, must be provided to the Company within thirty (30) days following initial notification
of its occurrence or proposed occurrence, and during such thirty (30) day notice period, the Company shall have a cure right (if
curable), and if not cured within such period and which action is not then rescinded within 30 days after delivery of such notice,
the Executive’s termination will be effective upon the expiration of such cure period:

 

i.             A
change of the principal office or work place assigned to the Executive to a location more than 35 miles distant from its location
immediately prior to such change.

 

ii.           A
material reduction by the Company of the Executive’s title, duties, responsibilities, authority, status, reporting relationship
or the Executive’s position.

 

iii.           A
material reduction of the Executive’s Salary, Bonus, or other compensation, unless pursuant to a reduction in such items
applicable proportionally to all senior management and members of the Board of Directors.

 

iv.           Any
breach of this Agreement or other agreement between you and the Company by the Company, without limitation, a material failure
to pay Executive’s Salary in accordance with the terms and conditions of Sections 2(a) and (b) of this Agreement.

 

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v.           Any
reason or no reason following a Change of Control, provided that the Executive’s notice of resignation under this subsection
9(c)(v) is provided to the surviving entity following the Change of Control, within the 30-day period following the closing of
such Change of Control.

 

10.          Covenants;
Compensation for Non-Competition Obligations.

 

a.             The
Proprietary Information, Assignment of Inventions and Non-Competition Agreement, as amended and restated, annexed hereto as Exhibit
B shall govern the Executive’s obligations with respect to such matters, subject to the terms and conditions of this
Agreement.

 

b.             The
Parties acknowledge and agree that the Company’s Proprietary Information, Assignment of Inventions and Non-Competition Agreement
does not prohibit the Executive from the activities set forth in Schedule B annexed hereto.

 

c.             Executive
acknowledges that twenty percent (20%) of the Salary is paid as special supplementary monthly compensation in consideration for
Executive’s non-competition undertakings and obligations set forth in Exhibit B hereto (the “Special Non-Competition
Monthly Compensation”). Executive warrants and represents that the Special Non-Competition Monthly Compensation constitutes
a real, appropriate and full consideration to any prejudice he may suffer due to his non-competition undertakings and obligations
set forth in Exhibit B hereto, including but not limited to restriction of his freedom of employment.

 

11.          Miscellaneous.
The laws of the State of Israel shall apply to this Agreement and the sole and exclusive place of jurisdiction in any matter arising
out of or in connection with this Agreement shall be the Tel-Aviv Regional Labor Court. The provisions of this Agreement are in
lieu of the provisions of any collective bargaining agreement, and therefore, no collective bargaining agreement shall apply with
respect to the relationship between the parties hereto (subject to the applicable provisions of law). No failure, delay or forbearance
of either party in exercising any power or right hereunder shall in any way restrict or diminish such party's rights and powers
under this Agreement, or operate as a waiver of any breach or nonperformance by either party of any terms or conditions hereof.
In the event it shall be determined under any applicable law that a certain provision set forth in this Agreement is invalid or
unenforceable, such determination shall not affect the remaining provisions of this Agreement, unless the business purpose of this
Agreement is substantially frustrated thereby. The preface, exhibits, and schedules to this Agreement constitute an integral and
indivisible part hereof. This Agreement constitutes the entire understanding and agreement between the parties hereto, supersedes
any and all prior discussions, agreements and correspondence with regard to the subject matter hereof, and may not be amended,
modified or supplemented in any respect, except by a subsequent writing executed by both parties hereto. The Executive acknowledges
and confirms that all terms of the Executive’s employment are personal and confidential, and undertake to keep such terms
in confidence and refrain from disclosing such terms to any third party. All references to applicable law are deemed to include
all applicable and relevant laws and ordinances and all regulations and orders promulgated there under, unless the context otherwise
requires. The Parties agree that this Agreement constitutes, among others, notification in accordance with the Notice to Employees
(Employment Terms) Law, 2002. Nothing in this Agreement shall derogate from the Executive’s rights according to any applicable
law, extension order, collective agreement or other agreement with respect to the terms of Executive’s employment.

 

    	Page 11 of 12	 	 

     

    

 

IN WITNESS WHEREOF the parties hereto have signed this Agreement
as of the date first hereinabove set forth.

 

	LABSTYLE INNOVATION LTD.	 	EREZ RAPHAEL
	 	 	 
	/s/ Dennis M. McGrath	 	/s/ Erez Raphael
	By: Dennis M. McGrath	 	 
	Title: Chairman of the Compensation 	 	 
	Committee of the Board of Directors	 	 

 

    	Page 12 of 12	 	 

     

    

 

SCHEDULE A

 

To the Amended and Restated Personal
Employment Agreement by and between

LabStyle Innovation Ltd. and the Employee
Whose Name is Set Forth Herein

 

	1.	Name of Employee:	Erez Raphael
	 	 	 
	2.	I.D. No. of Employee:	025423351 
	 	 	 
	3.	Address of Employee:	Tavor 135, Nofit, ISRAEL
	 	 	 
	4.	Position in the Company:	Chairman, President and Chief Executive Officer of the Company and of the parent Company DarioHealth Corp
	 	 	 
	5.	Under the Direct Direction of:	Board of Directors of Dario Health Corp
	 	 	 
	6.	Employment Commencement Date:	August 17th, 2012
	 	 	 
	7.	Agreement Effective Date:	July 25, 2017
	 	 	 
	8.	Agreement Termination Date:	December 31, 2020
	 	 	 
	9.	Notice Period:	180 days
	 	 	 
	10.	Salary:	NIS 80,000
	 	 	 
	11.	Vacation Days Per Year:	The greater of what is authorized pursuant to applicable law or 24 days per year
	 	 	 
	12.	Sick Leave Days Per Year:	Pursuant to applicable law
	 	 	 
	13.	Holidays Per Year:	The greater of what is authorized pursuant to applicable law or 10 days per year

 

     

     

    

 

SCHEDULE B

 

To the Amended and Restated Personal
Employment Agreement by and between

LabStyle Innovation Ltd. and the Employee
Whose Name is Set Forth Herein

  

	Name of Employee:	Erez Raphael
	 	 
	I.D. No. of Employee:	025423351 
	 	 
	Date:	July 25, 2017

 

Board Seat – Precise Bio

Board Seat - Mavrin Health

 

     

     

    

 

SCHEDULE C

 

To the Amended and Restated
Personal Employment Agreement by and between

LabStyle Innovation Ltd. and the Employee
Whose Name is Set Forth Herein

  

	Name of Employee:	Erez Raphael
	 	 
	I.D. No. of Employee:	025423351 
	 	 
	Date:	July 25, 2017

  

Option grants outstanding

 

	Grant date	 	Options Granted	 	 	Exercise Price	 
	15/3/13	 	 	2,001	 	 	$	121.50	 
	6/6/13	 	 	223	 	 	$	270.00	 
	29/8/13	 	 	3,334	 	 	$	240.30	 
	7/1/14	 	 	889	 	 	$	166.50	 
	7/7/14	 	 	4,667	 	 	$	88.20	 
	3/9/15	 	 	168,904	 	 	$	5.76	 
	30/1/17	 	 	143,164	 	 	$	3.202	 

 

     

     

    

 

EXHIBIT A

 

To the Personal Employment Agreement
by and between

LabStyle Innovation
Ltd. and the Employee whose name is set forth herein

 

 

     

     

    

 

EXHIBIT B

 

To the Personal Employment
Agreement by and between

LabStyle Innovation
Ltd. and the Employee whose name is set forth herein

  

	Name of Employee:	Erez Raphael
	 	 
	I.D. No. of Employee:	025423351 
	 	 
	Date:	July 25, 2017 (the “Effective Date”)

 

General

 

		1.	Capitalized terms herein shall have the meanings ascribed
to them in the Agreement to which this Exhibit is attached (the "Agreement"). For purposes of any undertaking
of the Employee toward the Company, the term "Company" shall include any parent company, subsidiaries and affiliates
of the Company. The Employee's obligations and representations and the Company's rights under this Exhibit shall apply as of the
Effective Date, regardless of the date of execution of the Agreement.

 

Confidentiality; Proprietary Information

 

		2.	"Proprietary Information" means confidential
and proprietary information concerning the business and financial activities of the Company, including, without limitation, patents,
patent applications, trademarks, copyrights and other intellectual property, and information relating to the same, technologies
and products (actual or planned), know how, inventions, research and development activities, inventions, trade secrets and industrial
secrets, and also confidential commercial information such as investments, investors, employees, customers, suppliers, marketing
plans, etc., all the above - whether documentary, written, oral or computer generated. Proprietary Information shall also include
information of the same nature which the Company may obtain or receive from third parties.

 

		3.	Proprietary Information shall be deemed to include any
and all proprietary information disclosed by or on behalf of the Company and irrespective of form but excluding information that
(i) was known to Employee prior to Employee's association with the Company, as evidenced by written records; (ii) is or shall
become part of the public knowledge except as a result of the breach of the Agreement or this Exhibit by Employee; (iii) reflects
general skills and experience; or (iv) reflects information and data generally known in the industries or trades in which the
Company operates.

 

		4.	Employee recognizes that the Company received and will
receive confidential or proprietary information from third parties, 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. In connection with such duties, such information shall be
deemed Proprietary Information hereunder, mutatis mutandis.

 

     

     

    

 

		5.	Employee agrees that all Proprietary Information, and patents,
trademarks, copyrights and other intellectual property and ownership rights in connection therewith shall be the sole property
of the Company and its assigns. At all times, both during the employment relationship and after the termination of the engagement
between the parties, Employee will keep in confidence and trust all Proprietary Information, and will not use or disclose any
Proprietary Information or anything relating to it without the written consent of the Company, except as may be necessary in the
ordinary course of performing Employee's duties under the Agreement.

 

		6.	Upon termination of Employee's engagement with the Company,
Employee will promptly deliver to the Company all documents and materials of any nature pertaining to Employee's engagement with
the Company, and will not take with him any documents or materials or copies thereof containing any Proprietary Information.

 

		7.	Employee's undertakings set forth in Section 1 through
Section 6 shall remain in full force and effect after termination of the Agreement or any renewal thereof.

 

Disclosure and Assignment of Inventions

 

		8.	"Inventions" means any and all inventions,
improvements, designs, concepts, techniques, methods, systems, processes, know how, computer software programs, databases, mask
works and trade secrets, whether or not patentable, copyrightable or protectable as trade secrets; "Company Inventions"
means any Inventions that are made or conceived or first reduced to practice or created by Employee, whether alone or jointly
with others, during the period of Employee's engagement with the Company, and which are: (i) developed using equipment, supplies,
facilities or Proprietary Information of the Company, (ii) result from work performed by Employee for the Company, or (iii) related
to the field of business of the Company, or to current or anticipated research and development.

 

		9.	Employee hereby confirms that all rights that he may have
had at any time in any and all Company's Inventions, are and have been from inception in the sole ownership of the Company, including
during the process of its incorporation. If ever any doubt shall arise as to the Company’s rights or title in any Invention
and it shall be asserted that the Employee, allegedly, is the owner of any such rights or title, then Employee hereby irrevocably
transfer and assign in whole to the Company without any further royalty or payment any and all rights, title and interest in any
and all Inventions. Employee has listed below in this Section 9 a complete list of all inventions to which he claim ownerships
(the "Prior Inventions") and that he desires to remove from the operation of this Agreement, and acknowledges
and agrees that such list is complete. If no such list is attached to this Agreement, Employee represents that he has no such
Inventions at the time of signing this Agreements. The Prior Inventions, if any, patented or unpatented, are excluded from the
scope of this Agreement. If, in the course of employment with the Company, Employee incorporates a Prior Invention into a Company
product, process or machine, the Company is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual,
worldwide license (with rights to sublicense through multiple tiers of sublicensees) to make, have made, modify, use and sell
such Prior Invention. Notwithstanding the foregoing, Employee agrees that he will not incorporate, or permit to be incorporated,
Prior Inventions in any Company Inventions without the Company's prior written consent. Employee hereby represents and undertakes
that none of his previous employers or any entity with whom he was engaged, has any rights in the Inventions or Prior Inventions
and such employment with the Company will not grant any of them any right in the results of the Employee’s work.

 

     

     

    

 

		 	Prior Inventions: [fill-in, if any.]

  

		 	None.
		 	 

 

		10.	Employee undertakes and covenants he will promptly disclose
in confidence to the Company all Inventions deemed as Company Inventions. The Employee agrees and undertakes not to disclose to
the Company any confidential information of any third party and, in the framework of his employment by the Company, not to make
any use of any intellectual property rights of any third party.

 

		11.	Employee hereby irrevocably transfers and assigns to the
Company all worldwide patents, patent applications, copyrights, mask works, trade secrets and other intellectual property rights
in any Company Invention, and any and all moral rights that he may have in or with respect to any Company Invention. For the removal
of any doubt, it is hereby clarified that the provisions concerning assignment of Inventions contained in Section 8 and this Section
‎11 will apply also to any "Service Inventions" as defined in the Israeli Patent Law, 1967 (the "Patent
Law"). However, in no event will such Service Invention become the property of the Employee and the provisions contained
in Section 132(b) of the Patent Law shall not apply unless the Company provides in writing otherwise. The Employee will not
be entitled to royalties or other payment with regard to any Prior Inventions, Company Inventions, Service Inventions or any of
the intellectual property rights set forth above, including any commercialization of such Prior Inventions, Company Inventions,
Service Inventions or other intellectual property rights. The Employee irrevocably confirms that the consideration explicitly
set forth in the employment agreement is in lieu of any rights for compensation that may arise in connection with the Inventions
under applicable law and the employee hereby expressly and irrevocably confirms that the provisions contained in Section 134 of
the Patent Law shall not apply and he waives any right to claim royalties or other consideration with respect to any Invention.

 

     

     

    

  

		12.	Employee agrees to assist the Company, at the Company's
expense, in every proper way to obtain for the Company and enforce patents, copyrights, mask work rights, and other legal protections
for the Company Inventions in any and all countries. Employee will execute any documents that the Company may reasonably request
for use in obtaining or enforcing such patents, copyrights, mask work rights, trade secrets and other legal protections. Such
obligation shall continue beyond the termination of Employee's engagement with the Company. Employee hereby irrevocably designates
and appoints the Company and its authorized officers and agents as Employee's agent and attorney in fact, coupled with an interest
to act for and on Employee's behalf and in Employee's stead to execute and file any document needed to apply for or prosecute
any patent, copyright, trademark, trade secret, any applications regarding same or any other right or protection relating to any
Proprietary Information (including Company Inventions), and to do all other lawfully permitted acts to further the prosecution
and issuance of patents, copyrights, trademarks, trade secrets or any other right or protection relating to any Proprietary Information
(including Company Inventions), with the same legal force and effect as if executed by Employee himself.

 

Non-Competition

 

		13.	In consideration of Employee's terms of employment hereunder,
which include special compensation for his undertakings under this Section 13 and the following Section 14, and in order to enable
the Company to effectively protect its Proprietary Information, Employee agrees and undertakes that he will not, so long as the
Agreement is in effect and for a period of twelve (12) months following termination of the Agreement, for any reason whatsoever,
directly or indirectly, in any capacity whatsoever, engage in, become financially interested in, be employed by, or have any connection
with a business or venture that is engaged in glucose monitoring and is competitive with the activities of the Company. Employee
hereby acknowledges and agrees that the Salary and social benefits to which the Employee is or shall be entitled to, if any, as
set forth in the Agreement, is set to a level which reflects adequate compensation sufficient to reimburse prejudice, if any,
including but not limited to any of Employee's legitimate rights and interests. Employee further warrants and represents that
the Special Non-Competition Monthly Compensation (as defined in the Agreement) constitutes a real, appropriate and full consideration
to any prejudice Employee may suffer due to his non-competition undertakings and obligations set forth in this Exhibit, including
but not limited to restriction of his freedom of employment.

 

		14.	Employee agrees and undertakes that during the employment
relationship and for a period of twelve (12) months following termination of this engagement for whatever reason, Employee will
not, directly or indirectly, including personally or in any business in which Employee may be an officer, director or shareholder,
solicit for employment any person who is employed by the Company, or any person retained by the Company as a consultant, advisor
or the like who is subject to an undertaking towards the Company to refrain from engagement in activities competing with the activities
of the Company (for purposes hereof, a "Consultant"), or was retained as an employee or a Consultant during the
six months preceding termination of Employee's employment with the Company.

 

     

     

    

 

Reasonableness of Protective Covenants

 

		15.	Insofar as the protective covenants set forth in this Exhibit
are concerned, Employee specifically acknowledges, stipulates and agrees as follows: (i) the protective covenants are reasonable
and necessary to protect the goodwill, property and Proprietary Information of the Company, and the operations and business of
the Company; and (ii) the time duration of the protective covenants is reasonable and necessary to protect the goodwill and the
operations and business of Company, and does not impose a greater restrain than is necessary to protect the goodwill or other
business interests of the Company. Nevertheless, if any of the restrictions set forth in this Exhibit is found by a court having
jurisdiction to be unreasonable or overly-broad as to geographic area, scope or time or to be otherwise unenforceable, the parties
hereto intend for the restrictions set forth in this Exhibit to be reformed, modified and redefined by such court so as to be
reasonable and enforceable and, as so modified by such court, to be fully enforced.

 

Remedies for Breach

 

		16.	Employee acknowledges that the legal remedies for breach
of the provisions of this Exhibit may be found inadequate and therefore agrees that, in addition to all of the remedies available
to Company in the event of a breach or a threatened breach of any of such provisions, the Company may also, in addition to any
other remedies which may be available under applicable law, obtain temporary, preliminary and permanent injunctions against any
and all such actions.

 

Intent of Parties

 

		17.	Employee recognizes and agrees: (i) that this Exhibit is
necessary and essential to protect the business of Company and to realize and derive all the benefits, rights and expectations
of conducting Company’s business; (ii) that the area and duration of the protective covenants contained herein are in all
things reasonable; and (iii) that good and valuable consideration exists under the Agreement, for Employee's agreement to be bound
by the provisions of this Exhibit.

 

IN WITNESS WHEREOF the Employee has signed this Agreement
as of the date first hereinabove set forth.

 

	 	 
	 	 
	Erez Raphael	 

 

     

     

    

 

EXHIBIT
C

 

GENERAL APPROVAL REGARDING
PAYMENTS BY EMPLOYERS TO A PENSION FUND AND INSURANCE FUND IN LIEU OF SEVERANCE PAY UNDER THE SEVERANCE PAY LAW, 5723-1963Exhibit 10.2

 

PERSONAL
EMPLOYMENT AGREEMENT

 

THIS PERSONAL EMPLOYMENT AGREEMENT (the
"Agreement") is made and entered into this 22 day of September, 2013 by and between LabStyle Innovation Ltd.,
a company incorporated under the laws of the State of Israel, with its offices at 7 Menachem Begin St., Ramat Gan 52681, Israel
(the "Company"), and Dror Bacher (Israeli I.D. No.32068470) residing at Mishol Ha Bostan 17, Moshav Geva
Carmel Israel, 30855 (the "Employee").

 

WHEREAS,the Company wishes to
employ the Employee, and the Employee wishes to be employed by the Company, as of the Commencement Date (as such term is defined
hereunder); and

 

WHEREAS,the parties hereto desire
to state the terms and conditions of the Employee's employment by the Company, as set forth below.

 

NOW, THEREFORE, in consideration
of the mutual premises, covenants and other agreements contained herein, the parties hereby agree as follows:

 

General

 

1.           Position.
The Employee shall serve in the position described in Exhibit A attached hereto. In such position the Employee shall
report regularly and shall be subject to the direction and control of the Company's management and specifically under the direction
of the person specified in Exhibit A. The Employee shall perform his duties diligently, conscientiously and in furtherance
of the Company's best interests. The Employee agrees and undertakes to inform the Company, immediately after becoming aware of
any matter that may in any way raise a conflict of interest between the Employee and the Company. During his employment by the
Company, the Employee shall not receive any payment, compensation or benefit from any third party in connection, directly or indirectly,
with his position in the Company.

 

2.           Full
Time Employment. The Employee will be employed on a full time basis (i.e. 45 hours per work week). The Employee shall devote
his entire business time and attention to the business of the Company and shall not undertake or accept any other paid or unpaid
employment or occupation or engage in any other business activity, except with the prior written consent of the Company. The Employee’s
weekly rest day shall be Saturday, unless otherwise determined by the Company in a notice to the Employee.

 

3.           Location.
The Employee shall perform his duties hereunder at the Company's facilities in Israel, but he understands and agrees that his position
may involve significant domestic and international travel.

 

4.           Employee's
Representations and Warranties. The Employee represents and warrants that the execution and delivery of this Agreement and
the fulfillment of its terms: (i) will not constitute a default under or conflict with any agreement or other instrument to which
he is a party or by which he is bound; and (ii) do not require the consent of any person or entity. Further, with respect to any
past engagement of the Employee with third parties and with respect to any permitted engagement of the Employee with any third
party during the term of his engagement with the Company (for purposes hereof, such third parties shall be referred to as "Other
Employers"), the Employee represents, warrants and undertakes that: (a) his engagement with the Company is and/or will
not be in breach of any of his undertakings toward Other Employers, and (b) he will not disclose to the Company, nor use, in provision
of any services to the Company, any proprietary or confidential information belonging to any Other Employer.

 

     

     

    

 

Term of Employment

 

5.           Term.
The Employee's employment by the Company shall commence on the date set forth in Exhibit A (the "Commencement
Date"), and shall continue until it is terminated pursuant to the terms set forth herein.

 

6.           Termination
at Will. Either party may terminate the employment relationship hereunder at any time, without the obligation to provide any
reason, by giving the other party a prior written notice as set forth in Exhibit A (the "Notice Period").
Notwithstanding the Notice Period provided under Exhibit A, it is hereby agreed that, if, pursuant to a decision of the Company's
Board of Directors, the Company has reached the "zone of insolvency", then the Employee shall be entitled to a Notice
Period pursuant to the terms of applicable law. The Employee acknowledges and agrees that he has been given ample opportunity to
consider the aforesaid waiver and further acknowledges that the Salary includes due consideration for such waiver. Notwithstanding
the foregoing, the Company is entitled to terminate this Agreement with immediate effect upon a written notice to Employee and
to pay the Employee a one time amount equal to the Salary that would have been paid to the Employee during the Notice Period, in
lieu of such prior notice.

 

The
Company and Employee agree and acknowledge that the Company’s Severance Contribution to the Insurance Scheme in accordance
with Section 11 below, shall, provided contribution is made in full, be instead of severance payment to which the Employee (or
his beneficiaries) is entitled with respect to the Salary upon which such contributions were made and for the period in which they
were made ("Exempt Salary"), pursuant to Section 14 of the Severance Pay Law 5723 – 1963 (the "Severance
Law"). The parties hereby adopt the General Approval of the Minister of Labor and Welfare, which is attached hereto as
Exhibit C. The Company hereby forfeits any right it may have in the reimbursement of sums paid by Company into the
Insurance Scheme, except: (i) in the event that Employee withdraws such sums from the Insurance Scheme, other than in the event
of death, disability or retirement at the age of 60 or more; or (ii) upon the occurrence of any of the events provided for in Sections
16 and 17 of the Severance Law. Nothing in this Agreement shall derogate from the Employee’s rights to severance payment
in accordance with the Severance Law or agreement or applicable ministerial order including the General Approval of the Minister
of Labor and Welfare, as set forth in this Section 6, in the event contributions to the Insurance Scheme in accordance with Section
11 below have not been made in full.

 

7.           Termination
for Cause. The Company may immediately terminate the employment relationship for Cause, and such termination shall be effective
as of the time of notice of the same. "Cause" means (a) conviction of any felony by the Employee involving moral
turpitude affecting the Company or its affiliates or any crime involving fraud; (b) action taken by the Employee intentionally
to materially harm the Company; (c) embezzlement of funds of the Company or its affiliates by the Employee; (d) falsification of
Company's or affiliates' records or reports by the Employee; (e) ownership by the Employee, direct or indirect, of an interest
in a person or entity (other than a minority interest in a publicly traded company) in competition with the products or services
of the Company or its affiliates, including those products or services contemplated in a plan adopted by the Company or its affiliates;
(f) any material breach of the Employee's fiduciary duties or duties of care to the Company (except for conduct taken in good faith)
which, to the extent such breach is curable, has not been cured by Employee within fifteen (15) days after its receipt of notice
thereof from Company containing a description of the breach or breaches alleged to have occurred; (g) any material breach of the
Proprietary Information, Assignment of Inventions and Non-Competition Agreement attached as Exhibit B by the Employee;
and (i) any other act or omission that constitutes "cause" under the laws of the State of Israel. In the event of termination
for Cause, the Employee’s entitlement to severance pay will be subject to Sections 16 and 17 of the Severance Law.

 

    	 	- 2 -	 

     

    

 

8.           Notice
Period; End of Relations. During the Notice Period and unless otherwise determined by the Company in a written notice to the
Employee, the employment relationship hereunder shall remain in full force and effect, the Employee shall be obligated to continue
to discharge and perform all of his duties and obligations with Company, and the Employee shall cooperate with the Company and
assist the Company with the integration into the Company of the person who will assume the Employee's responsibilities.

 

Covenants

 

9.           Proprietary
Information; Assignment of Inventions and Non-Competition. Upon the execution of this Agreement, the Employee will execute
the Company's Proprietary Information, Assignment of Inventions and Non-Competition Agreement attached hereto as Exhibit
B. Exhibit B hereto shall survive the expiration or other termination of this Agreement.

 

Special Agreement; Salary and Special
Compensation; Insurance

 

10.         (a)
Special Agreement. It is agreed between the parties hereto that this Agreement is a
personal agreement, and that the position the Employee is to hold within the Company is a senior position which requires a special
measure of personal trust, as such terms are defined in the Working Hours and Rest Law 5711 - 1951, as amended (the "Law").
The provisions of any collective bargaining agreement which exist or shall exist do not, and will not, apply to the employment
of the Employee, whether such agreement was signed among the government, the General Federation of Labor and Employers organizations,
or any of such parties, or whether signed by others, in relation to the field or fields of the business of the Company or in relation
to the position held by or the profession of the Employee. In light of this relationship of trust, the provisions of the Law, or
any other law which may apply, will not apply to the performance by the Employee of his duties hereunder. Thus, the Employee may
be required, from time to time and according to the work load demanded of his, to work beyond the regular working hours and the
Employee shall not be entitled to any further compensation other than as specified in this Agreement and the Appendixes hereto.

 

(b) Salary.
The Company shall pay to the Employee as compensation for the employment services an aggregate base salary in the amount set forth
in Exhibit A (the "Salary"). In addition, until the Company will provide the Employee with the Car
as set forth in Section 16 below - the Company shall pay the Employee for any and all daily travel costs to which he may be entitled
under any applicable law. Except as specifically set forth herein, the Salary includes any and all payments to which the Employee
is entitled from the Company hereunder and under any applicable law, regulation or agreement. The Employee's Salary and other terms
of employment may be reviewed and updated by the Company's management, from time to time, at the Company's discretion. The Salary
is to be paid to the Employee no later than the 9th day of each calendar month after the month for which the Salary
is paid, after deduction of applicable taxes and like payments.

 

(c) Special Compensation
for Non-Competition Obligations. The Employee acknowledges that 20% of the Salary is paid as special supplementary monthly
compensation in consideration for the Employee's non-competition undertakings and obligations set forth in Exhibit B
hereto (the "Special Non-Competition Monthly Compensation"). The Employee warrants and represents that the Special
Non-Competition Monthly Compensation constitutes a real, appropriate and full consideration to any prejudice he may suffer due
to his non-competition undertakings and obligations set forth in Exhibit B hereto, including but not limited to restriction
of his freedom of employment.

 

11.         Insurance
and Social Benefits. The Company will insure the Employee under a "Manager's Insurance Scheme" and/or a pension plan,
as per the Employee’s request (the "Insurance Scheme") as follows: (i) the Company will pay an amount equal
to 5% (five percent) of the Salary towards a fund for life insurance and pension; (ii) the Company will pay an amount of up to
2.5% (two percent and one half of a percent) of the Salary for a fund for the event of loss of working ability ("Ovdan Kosher
Avoda"); and (iii) the Company will pay an amount equal to 8 1/3% (eight percent and one third of a percent) of the Salary
towards a fund for severance compensation (the "Company’s Severance Contribution"). Similarly, at the beginning
of each month the Company shall deduct from the Salary an amount equal to 5% of the Salary for the preceding month, and shall pay
such amount as premium payable in respect of the provident compensation component of the Insurance Scheme. Additionally, the Company
together with the Employee will maintain an advanced study fund ("Keren Hishtalmut") and the Employee and the
Company shall contribute to such fund an amount equal to 2.5% (two percent and one half of a percent) of the Salary and 7.5% (seven
percent and one half of a percent) of the Salary, respectively. All of the Employee's aforementioned contributions shall be transferred
to the above referred to plans and funds by the Company by deducting such amounts from each monthly Salary payment.

 

    	 	- 3 -	 

     

    

 

Additional Benefits

 

12.         Expenses.
The Company will reimburse the Employee for business expenses borne by the Employee, provided that such expenses were approved
in advance by the Company, and against valid invoices therefore furnished by the Employee to the Company, all in accordance with
the Company's policy as amended from time to time.

 

13.         Vacation.
The Employee shall be entitled to the number of vacation days per year as set forth in Exhibit A, as coordinated
with the Company (with unused days to be accumulated up to the limit set pursuant to applicable law).

 

14.         Sick
Leave; Convalescence Pay. The Employee shall be entitled to that number of paid sick leave per year as set forth in Exhibit
A (with unused days to be accumulated up to the limit set pursuant to applicable law), and also to Convalescence Pay ("Dmei
Havra'a") pursuant to applicable law.

 

15.          Options.
The Company may, from time to time, at its sole discretion, grant the Employee options (the "Options") to purchase
shares of common stock of the Company's parent company, LabStyle Innovations Corp., a Delaware corporation (the "Parent").
The Options shall be subject to the terms of the Parent’s 2012 Equity Incentive Plan and the 2012 U.S. Sub Plan thereto,
as may be amended from time to time, or any successor plans, and an Option Agreement to be executed between Parent and the Employee.
The Employee acknowledges that he will be required to execute additional documents in compliance with the applicable tax laws
and/or other applicable laws.

 

16.          Travel
Expenses / Car. During the term of this Agreement, The Employee shall be entitled to reimbursement for his travel expenses
at the monthly amount as set forth in Exhibit A. HOWEVER, the employee will be entitled to waive to receive the
reimbursement for his travel expenses and to receive -instead of such travel expenses reimbursement and following agreement with
the company regarding the reduce of the employee’s salary - a car from the Company. In such a case, the Company will provide
the Employee with a car of make and model pursuant to Company's car policy, as adopted, as may be amended from time to time by
the Company (the "Car"). The Car shall belong to or be leased by the Company and shall be registered in the Company’s
name for use by the Employee during the period of his employment with the Company. The Car will be returned to the Company by
the Employee immediately after termination of the Employee's employment by the Company. Use by the Employee of the Car shall be
made at all times only in accordance with the provisions of the Company's Car policy, as may be amended from time to time by the
Company. The Company shall bear all the fixed and variable costs of the Car, including licenses, insurance, gasoline, regular
maintenance and repairs. The Company shall not, at any time, bear the costs of any tickets, traffic offense or fines of any kind
and insurance self-participation payment. The Employee shall bear all the personal tax consequences of the allocation of the Car
to his benefit. Any expenses, payments or other benefits that are made in connection with the Car shall not be regarded as part
of the Salary, for any purpose or matter, and no social benefits or other payments shall be paid on its account. It is hereby
agreed that the Employee may waive his right to receive the Car in consideration for the receipt of additional salary in the amount
determined by the Company.

 

    	 	- 4 -	 

     

    

 

17.         Mobile
Phone. During the term of this Agreement the Company may provide the Employee with a Company's mobile phone, for use in connection
with Employee's duties hereunder, pursuant to Company's policy, as adopted, as may be amended from time to time by the Company
(the "Mobile Phone"). The Company shall bear all expenses relating to the Employee’s use and maintenance
of the Mobile Phone attributed to the Employee under this Section. The Employee shall bear all the personal tax consequences of
the allocation of the Mobile Phone his benefit. Any expenses, payments or other benefits that are made in connection with the Mobile
Phone shall not be regarded as part of the Salary, for any purpose or matter, and no social benefits or other payments shall be
paid on its account.

 

Miscellaneous

 

18.         The
laws of the State of Israel shall apply to this Agreement and the sole and exclusive place of jurisdiction in any matter arising
out of or in connection with this Agreement shall be the Tel-Aviv Regional Labor Court. The provisions of this Agreement are in
lieu of the provisions of any collective bargaining agreement, and therefore, no collective bargaining agreement shall apply with
respect to the relationship between the parties hereto (subject to the applicable provisions of law). No failure, delay or forbearance
of either party in exercising any power or right hereunder shall in any way restrict or diminish such party's rights and powers
under this Agreement, or operate as a waiver of any breach or nonperformance by either party of any terms or conditions hereof.
In the event it shall be determined under any applicable law that a certain provision set forth in this Agreement is invalid or
unenforceable, such determination shall not affect the remaining provisions of this Agreement, unless the business purpose of this
Agreement is substantially frustrated thereby. The preface and exhibits to this Agreement constitute an integral and indivisible
part hereof. This Agreement constitutes the entire understanding and agreement between the parties hereto, supersedes any and all
prior discussions, agreements and correspondence with regard to the subject matter hereof, and may not be amended, modified or
supplemented in any respect, except by a subsequent writing executed by both parties hereto. The Employee acknowledges and confirms
that all terms of the Employee's employment are personal and confidential, and undertake to keep such terms in confidence and refrain
from disclosing such terms to any third party. All references to applicable law are deemed to include all applicable and relevant
laws and ordinances and all regulations and orders promulgated there under, unless the context otherwise requires. The parties
agree that this Agreement constitutes, among others, notification in accordance with the Notice to Employees (Employment Terms)
Law, 2002. Nothing in this Agreement shall derogate from the Employee’s rights according to any applicable law, extension
order, collective agreement or other agreement with respect to the terms of Employee’s employment.

 

[Remainder of page intentionally left
blank]

 

    	 	- 5 -	 

     

    

 

IN WITNESS WHEREOF the parties hereto
have signed this Agreement as of the date first hereinabove set forth.

 

	/s/ Erez Raphael	 	/s/ Dror Bacher
	LabStyle Innovation Ltd.	 	Dror  Bacher

 

	By:	Erez Raphael
	 	CEO and President

 

    	 	- 6 -	 

     

    

 

Exhibit A

 

To the Personal Employment Agreement
by and between

LabStyle Innovation
Ltd. and the Employee whose name is set forth herein

 

	1.	 	Name of Employee:	 	Dror  Bacher
	 	 	 	 	 
	2.	 	I.D. No. of Employee:	 	32068470
	 	 	 	 	 
	3.	 	Address of Employee:	 	Mishol Ha Bostan 17, Moshav Geva Carmel, Israel, 30855
	 	 	 	 	 
	4.	 	Position in the Company:	 	R&D Software
	 	 	 	 	 
	5.	 	Under the Direct Direction of:	 	CEO
	 	 	 	 	 
	6.	 	Commencement Date:	 	November 1st, 2013
	 	 	 	 	 
	7.	 	Notice Period:	 	30 days
	 	 	 	 	 
	8.	 	Salary:	 	NIS 32,000
	 	 	 	 	 
	9.	 	Travel expenses	 	Pursuant to applicable law
	 	 	 	 	 
	10.	 	Vacation Days Per Year:	 	21 days
	 	 	 	 	 
	11.	 	Sick Leave Days Per Year:	 	Pursuant to applicable law

 

    	 	- 7 -	 

     

    

 

Exhibit B

 

To the Personal Employment Agreement
by and between

LabStyle Innovation
Ltd. and the Employee whose name is set forth herein

 

	Name of Employee:	Dror Bacher
	 	 
	I.D. No. of Employee:	32068470
	 	 
	Date:	November 1st, 2013 (the "Commencement Date")

 

General

 

		1.	Capitalized terms herein shall have the meanings ascribed to them
in the Agreement to which this Exhibit is attached (the "Agreement"). For purposes of any undertaking of the Employee
toward the Company, the term "Company" shall include any parent company, subsidiaries
and affiliates of the Company. The Employee's obligations and representations and the Company's rights under this Exhibit shall
apply as of the Commencement Date, regardless of the date of execution of the Agreement.

 

Confidentiality; Proprietary Information

 

		2.	"Proprietary Information" means confidential and proprietary information concerning
the business and financial activities of the Company, including, without limitation, patents, patent applications, trademarks,
copyrights and other intellectual property, and information relating to the same, technologies and products (actual or planned),
know how, inventions, research and development activities, inventions, trade secrets and industrial secrets, and also confidential
commercial information such as investments, investors, employees, customers, suppliers, marketing plans, etc., all the above -
whether documentary, written, oral or computer generated. Proprietary Information shall also include information of the same nature
which the Company may obtain or receive from third parties.

 

		3.	Proprietary Information shall be deemed to include any and all proprietary information disclosed
by or on behalf of the Company and irrespective of form but excluding information that (i) was known to Employee prior to Employee's
association with the Company, as evidenced by written records; (ii) is or shall become part of the public knowledge except as a
result of the breach of the Agreement or this Exhibit by Employee; (iii) reflects general skills and experience; or (iv) reflects
information and data generally known in the industries or trades in which the Company operates.

 

		4.	Employee recognizes that the Company received and will receive confidential or proprietary information
from third parties, 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. In connection with such duties, such information shall be deemed Proprietary Information hereunder,
mutatis mutandis.

 

		5.	Employee agrees that all Proprietary Information, and patents, trademarks, copyrights and other
intellectual property and ownership rights in connection therewith shall be the sole property of the Company and its assigns. At
all times, both during the employment relationship and after the termination of the engagement between the parties, Employee will
keep in confidence and trust all Proprietary Information, and will not use or disclose any Proprietary Information or anything
relating to it without the written consent of the Company, except as may be necessary in the ordinary course of performing Employee's
duties under the Agreement.

 

    	 	- 8 -	 

     

    

 

		6.	Upon termination of Employee's engagement with the Company,
Employee will promptly deliver to the Company all documents and materials of any nature pertaining to Employee's engagement with
the Company, and will not take with him any documents or materials or copies thereof containing any Proprietary Information.

 

		7.	Employee's undertakings set forth in Section 1 through
Section 6 shall remain in full force and effect after termination of the Agreement or any renewal thereof.

 

Disclosure and Assignment of Inventions

 

		8.	"Inventions" means any and all inventions,
improvements, designs, concepts, techniques, methods, systems, processes, know how, computer software programs, databases, mask
works and trade secrets, whether or not patentable, copyrightable or protectable as trade secrets; "Company Inventions"
means any Inventions that are made or conceived or first reduced to practice or created by Employee, whether alone or jointly
with others, during the period of Employee's engagement with the Company, and which are: (i) developed using equipment, supplies,
facilities or Proprietary Information of the Company, (ii) result from work performed by Employee for the Company, or (iii) related
to the field of business of the Company, or to current or anticipated research and development.

 

		9.	
        Employee hereby confirms that all rights that
        he may have had at any time in any and all Company's Inventions, are and have been from inception in the sole ownership of the
        Company, including during the process of its incorporation. If ever any doubt shall arise as to the Company’s rights or title
        in any Invention and it shall be asserted that the Employee, allegedly, is the owner of any such rights or title, then Employee
        hereby irrevocably transfer and assign in whole to the Company without any further royalty or payment any and all rights, title
        and interest in any and all Inventions. Employee has listed below in this Section 9 a complete list of all inventions to which
        he claim ownerships (the "Prior Inventions") and that he desires to remove from the operation of this Agreement,
        and acknowledges and agrees that such list is complete. If no such list is attached to this Agreement, Employee represents that
        he has no such Inventions at the time of signing this Agreements. The Prior Inventions, if any, patented or unpatented, are excluded
        from the scope of this Agreement. If, in the course of employment with the Company, Employee incorporates a Prior Invention into
        a Company product, process or machine, the Company is hereby granted and shall have a nonexclusive, royalty-free, irrevocable,
        perpetual, worldwide license (with rights to sublicense through multiple tiers of sublicensees) to make, have made, modify, use
        and sell such Prior Invention. Notwithstanding the foregoing, Employee agrees that he will not incorporate, or permit to be incorporated,
        Prior Inventions in any Company Inventions without the Company's prior written consent. Employee hereby represents and undertakes
        that none of his previous employers or any entity with whom he was engaged, has any rights in the Inventions or Prior Inventions
        and such employment with the Company will not grant any of them any right in the results of the Employee’s work.

         

        Prior Inventions: [fill-in, if
        any.]

 

	 	None.
	 	 

 

    	 	- 9 -	 

     

    

 

		10.	Employee undertakes and covenants he will promptly disclose
in confidence to the Company all Inventions deemed as Company Inventions. The Employee agrees and undertakes not to disclose to
the Company any confidential information of any third party and, in the framework of his employment by the Company, not to make
any use of any intellectual property rights of any third party.

 

		11.	Employee hereby irrevocably transfers and assigns to the
Company all worldwide patents, patent applications, copyrights, mask works, trade secrets and other intellectual property rights
in any Company Invention, and any and all moral rights that he may have in or with respect to any Company Invention. For the removal
of any doubt, it is hereby clarified that the provisions concerning assignment of Inventions contained in Section 8 and this Section
‎11 will apply also to any "Service Inventions"
as defined in the Israeli Patent Law, 1967 (the "Patent Law"). However, in no event will such Service
Invention become the property of the Employee and the provisions contained in Section 132(b) of the Patent Law shall not
apply unless the Company provides in writing otherwise. The Employee will not be entitled to royalties or other payment with regard
to any Prior Inventions, Company Inventions, Service Inventions or any of the intellectual property rights set forth above, including
any commercialization of such Prior Inventions, Company Inventions, Service Inventions or other intellectual property rights.
The Employee irrevocably confirms that the consideration explicitly set forth in the employment agreement is in lieu of any rights
for compensation that may arise in connection with the Inventions under applicable law and the employee hereby expressly and irrevocably
confirms that the provisions contained in Section 134 of the Patent Law shall not apply and he waives any right to claim royalties
or other consideration with respect to any Invention.

 

		12.	Employee agrees to assist the Company, at the Company's
expense, in every proper way to obtain for the Company and enforce patents, copyrights, mask work rights, and other legal protections
for the Company Inventions in any and all countries. Employee will execute any documents that the Company may reasonably request
for use in obtaining or enforcing such patents, copyrights, mask work rights, trade secrets and other legal protections. Such
obligation shall continue beyond the termination of Employee's engagement with the Company. Employee hereby irrevocably designates
and appoints the Company and its authorized officers and agents as Employee's agent and attorney in fact, coupled with an interest
to act for and on Employee's behalf and in Employee's stead to execute and file any document needed to apply for or prosecute
any patent, copyright, trademark, trade secret, any applications regarding same or any other right or protection relating to any
Proprietary Information (including Company Inventions), and to do all other lawfully permitted acts to further the prosecution
and issuance of patents, copyrights, trademarks, trade secrets or any other right or protection relating to any Proprietary Information
(including Company Inventions), with the same legal force and effect as if executed by Employee himself.

 

Non-Competition

 

		13.	In consideration of Employee's terms of employment hereunder,
which include special compensation for his undertakings under this Section 13 and the following Section 14, and in order to enable
the Company to effectively protect its Proprietary Information, Employee agrees and undertakes that he will not, so long as the
Agreement is in effect and for a period of twelve (12) months following termination of the Agreement, for any reason whatsoever,
directly or indirectly, in any capacity whatsoever, engage in, become financially interested in, be employed by, or have any connection
with any business or venture that is engaged in any activities competing with the activities of the Company. Employee hereby acknowledges
and agrees that the Salary and social benefits to which the Employee is or shall be entitled to, if any, as set forth in the Agreement,
is set to a level which reflects adequate compensation sufficient to reimburse prejudice, if any, including but not limited to
any of Employee's legitimate rights and interests. Employee further warrants and represents that the Special Non-Competition Monthly
Compensation (as defined in the Agreement) constitutes a real, appropriate and full consideration to any prejudice Employee may
suffer due to his non-competition undertakings and obligations set forth in this Exhibit, including but not limited to restriction
of his freedom of employment.

 

    	 	- 10 -	 

     

    

 

		14.	Employee agrees and undertakes that during the employment
relationship and for a period of twelve (12) months following termination of this engagement for whatever reason, Employee will
not, directly or indirectly, including personally or in any business in which Employee may be an officer, director or shareholder,
solicit for employment any person who is employed by the Company, or any person retained by the Company as a consultant, advisor
or the like who is subject to an undertaking towards the Company to refrain from engagement in activities competing with the activities
of the Company (for purposes hereof, a "Consultant"), or was retained as an employee or a Consultant during the
six months preceding termination of Employee's employment with the Company.

 

Reasonableness of Protective Covenants

 

		15.	Insofar as the protective covenants set forth in this Exhibit
are concerned, Employee specifically acknowledges, stipulates and agrees as follows: (i) the protective covenants are reasonable
and necessary to protect the goodwill, property and Proprietary Information of the Company, and the operations and business of
the Company; and (ii) the time duration of the protective covenants is reasonable and necessary to protect the goodwill and the
operations and business of Company, and does not impose a greater restrain than is necessary to protect the goodwill or other
business interests of the Company. Nevertheless, if any of the restrictions set forth in this Exhibit is found by a court having
jurisdiction to be unreasonable or overly-broad as to geographic area, scope or time or to be otherwise unenforceable, the parties
hereto intend for the restrictions set forth in this Exhibit to be reformed, modified and redefined by such court so as to be
reasonable and enforceable and, as so modified by such court, to be fully enforced.

 

Remedies for Breach

 

		16.	Employee acknowledges that the legal remedies for breach
of the provisions of this Exhibit may be found inadequate and therefore agrees that, in addition to all of the remedies available
to Company in the event of a breach or a threatened breach of any of such provisions, the Company may also, in addition to any
other remedies which may be available under applicable law, obtain temporary, preliminary and permanent injunctions against any
and all such actions.

 

Intent of Parties

 

		17.	Employee recognizes and agrees: (i) that this Exhibit is
necessary and essential to protect the business of Company and to realize and derive all the benefits, rights and expectations
of conducting Company’s business; (ii) that the area and duration of the protective covenants contained herein are in all
things reasonable; and (iii) that good and valuable consideration exists under the Agreement, for Employee's agreement to be bound
by the provisions of this Exhibit.

 

IN WITNESS WHEREOF the Employee has
signed this Agreement as of the date first hereinabove set forth.

 

	 	 
	Dror  Bacher	 

 

    	 	- 11 -	 

     

    

 

Exhibit C

 

GENERAL APPROVAL REGARDING PAYMENTS
BY EMPLOYERS TO A PENSION FUND AND INSURANCE FUND IN LIEU OF SEVERANCE PAYUNDER THE SEVERANCE PAY LAW, 5723-1963

 

 

    	 	- 12 -	 

     

    

 

FIRST AMENDMENT TO PERSONAL EMPLOYMENT
AGREEMENT

 

This FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
(this “Amendment”) is executed as of August 11, 2014 and made effective as of August 1, 2014 (the “Effective
Date”), by and between LabStyle Innovation Ltd., a company organized under the laws of the State of
Israel (the “Company”) and Dror Bacher (the "Employee").

 

WHEREAS, Employee
and Company have entered into a Personal Employment Agreement dated September 22, 2013 (the “Employment Agreement”);
and

 

WHEREAS, Employee
has agreed to decrease his Salary by 20% (the “Decrease Amount”) for the period which begins on the Effective
date and ends at the earliest of i) Three (3) proceeding months or; ii) untill such time the Company raises funds (in any form)
from current or new investors (this period shall be refered to as the “Decrease Period”).

 

NOW, THEREFORE,
in consideration of the respective agreements of the parties contained herein, the parties agree as follows:

 

		1.	Capitalized Terms. Any capitalized terms not defined
in this Amendment shall have the meaning ascribed to it in the Employment Agreement.

 

		2.	Amendments to the Employment Agreement.

 

The following Amendment to the Employment
Agreement shall be effective as of the Effective Date:

 

		2.1	Section 8 of Exhibit A to the Employment
Agreement is hereby amended to reflect monthly Salary of 25,600. It is hereby agreed that this monthly Salary shall be valid only
for the Decrease Period. Following such period, this Amendment shall be canceled and Employee will be reimbursed for his entire
Decrease Amount accrued through the Decrease Period.

 

		3.	No Other Amendments. Upon the execution hereof,
this Amendment shall have the effect of amending the Employment Agreement only in so far as required to give effect to the provisions
herein. Unless otherwise specifically provided for herein, all other terms and conditions of the Employment Agreement shall remain
in full force and effect.

 

		4.	Entire Agreement. Upon execution, this Amendment
shall be deemed an integral part of the Employment Agreement, and the Agreement shall be read as one amended agreement for all
purposes.

 

IN WITNESS WHEREOF, the Company and
the Employee have executed this Amendment effective as of the Effective Date.

 

	 	Employee:	 	The Company:	 
	 	 	 	 	 
	 	/s/ Dror Bacher	 	/s/ Erez Raphael	 
	 	Dror Bacher	 	LabStyle Innovation Ltd.	 
	 	 	 	Name: Erez Raphael	 
	 	 	 	Title: CEO & President	 

 

     

     

    

 

 

 

LabStyle Innovation Ltd

 

Strictly Private & Confidential

 

April 27, 2015

 

To: Dror Bacher

 

Dear Dror,

 

		Re:	Salary Increase

 

		1.	As previously discussed with you, we are happy to inform
you that in appreciation of your contribution to the Company, effective as of the salary for April 2015 (“Effective Date”),
your monthly Salary will increase to the total gross amount of NIS 35,000 which, notwithstanding section 10(a) of your employment
agreement, shall be comprised of the two following components (that shall be also presented in your pay slip):

 

		-	A gross monthly base salary in the amount of NIS 28,000;
and

 

		-	A gross monthly global compensation for overtime hours
in the amount of NIS 7,000, which represents payment for 37.5 overtime hours per month.

 

		2.	The provisions of your employment agreement shall remain
in full force and effect. In the event of any inconsistency between the provisions of this letter and the terms of your employment
agreement, the provisions of this letter shall prevail.

 

		3.	We appreciate your commitment to the Company and we look
forward to your continued contributions.

 

Please sign the below confirmation and return
the signed copy to the undersigned by no later than April 30, 2015.

 

Yours sincerely,

 

	/s/Erez Raphael	 
	Erez Raphael	 
	CEO and President	 

	 

 

CONFIRMATION

 

I acknowledge receipt of the above letter and
my agreement with its terms.

 

	/s/ Dror Bacher	 	April 27, 2017	 
	Signature	 	Date	 

 

     

     

    

 

 

 

LabStyle
Innovation Ltd

 

Strictly Private & Confidential

 

May 1, 2016

 

To: Dror Bacher

 

Dear Dror,

 

		Re:	Salary Increase

 

As previously discussed with you, we hereby
wish to confirm that, in appreciation of your contribution to the Company, effective as of the salary for the month of April 2016
(which is paid on May 1, 2016), your total monthly compensation (including car benefit in the monthly value of NIS 4,000) has been
increased to the total gross amount of NIS 52,000 ("Total Compensation"). Out of the Total Compensation, an amount
of NIS 39,000 will be paid to you as Salary. Accordingly, your Base Salary is NIS 31,200 and your Additional Compensation is NIS
7,800.

 

The shortfall between the Total Compensation
and the Salary ("Shortfall") shall be replaced with alternative compensation in accordance with the resolutions
of the Board of Directors of Labstyle Innovations Corp. dated April 3, 2015 (including the Shares for Salary Program) and April
17, 2016. For the avoidance of any doubt, the Shortfall shall not constitute a salary component for all intents and purposes.

 

Except as set out herein, there are no further
changes to your employment agreement, which shall continue to apply and remain in full force and effect.

 

Any capitalized terms not defined in this letter
shall have the meaning ascribed to it in your employment agreement.

 

We thank you for your continuous contribution
to the Company.

 

Yours sincerely,

 

	/s/Erez Raphael	 
	Erez Raphael	 
	CEO and President	 

	 

 

CONFIRMATION

 

I acknowledge receipt of the above letter and
my agreement with its terms.

 

	/s/ Dror Bacher	 	July 14, 2016	 
	Signature	 	Date

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