Document:

Exhibit
10.11

 

NOTICE
OF OPTION GRANT 

 

You
have been granted the following options (the “Options”) to purchase shares of common stock par value US$ 0.001
each (the “Shares”) of ScoutCam Inc. (the “Company”), pursuant and subject to the terms
and conditions of the Company’s 2020 Share Incentive Plan, a copy of which is attached hereto as Exhibit A (as may
be amended from time to time, the “Plan”), and the additional terms and conditions contained herein. Unless
otherwise defined, capitalized terms used herein shall have the meaning ascribed to them under the Plan.

 

	Grantee:	 	
	 	 	 
	Date of Grant:	 	 
	such date being subject to Section 9.4 of the Plan and Section 10.2 of this Agreement 
	 	 	 
	Intended Type of Award: 	 	______ Incentive Stock
    Option (U.S.)
	(✔
    check one):	 	______Nonqualified Stock Option (U.S.)
	 	 	______Option designated as 102 Capital Gains Track Award (with Trustee) (Israel)
	 	 	______Option designated as 102 Ordinary Income Track Award (with Trustee) (Israel)
	 	 	______Option designated as 102 Non-Trustee Award (Israel)
	 	 	______Option designated as 3(9) Award (Israel)
	 	 	______Other
	 	 	 
	the above being subject to Section  ‎9 of the Option Agreement, Section 18.4 of the Plan and applicable law
	 
	Exercise Price 	 	(US$
    / NIS / Other) ______ per Share
	 	 	 
	Number of Shares underlying the Options:	 	 
	 	 	 
	Vesting Commencement Date:	 	 
	 	 	 
	Vesting Schedule:	 	Subject to the terms of the Plan (including Sections 6.6 and 6.7 thereof), the Options shall vest and become exercisable under the following schedule: 25% of the Shares covered by the Options, on the first anniversary of the date on the Vesting Commencement Date, and 6.25% of the Shares covered by the Options at the end of each subsequent three-month period thereafter over the course of the subsequent 3 years; provided, in each case, that the Grantee remains continuously as a Service Provider of the Company or its Affiliates throughout each such vesting date.
	 	 	 
	Exercise Period:	 	The date determined in accordance with and subject to Section ‎8 of the Option Agreement and the provisions of the Plan.

 

The
Options are governed by this Notice of Option Grant and by the provisions of the Plan and the Option Agreement, both of which
are attached to and made an integral part of this Notice. By signing the Option Agreement, the Grantee acknowledges receipt of
copies of the Plan and the Option Agreement, represents that the Grantee read and is familiar with their provisions, and hereby
accepts the Options subject to all of their terms and conditions.

 

    	 	 	 

    	 

    

 

THIS
OPTION AGREEMENT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THE OPTIONS HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”) OR SUCH APPLICABLE LAWS OF OTHER JURISDICTIONS, OR QUALIFIED UNDER ANY SECURITIES
LAW OR ANY OTHER JURISDICTION, AND, SUBJECT TO THEIR TERMS, MAY NOT BE OFFERED, SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED
UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH APPLICABLE LAWS OF OTHER JURISDICTIONS COVERING
THIS AGREEMENT AND/OR SUCH SECURITIES, OR THE HOLDER RECEIVES AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY STATING THAT SUCH
OFFERING, SALE, TRANSFER, ASSIGNMENT, PLEDGE OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS
OF THE SECURITIES ACT AND THE QUALIFICATION REQUIREMENTS UNDER APPLICABLE LAW.

 

OPTION
AGREEMENT

 

The
Company has granted to the Grantee named in the Notice of Option Grant (“Notice”) to which this Option Agreement
(this “Agreement”) is attached Options upon the terms and conditions set forth in the Notice and this Agreement.
The Options have been granted pursuant to and shall in all respects be subject to the terms and conditions of the Notice, this
Agreement and the Plan, the provisions of which are incorporated herein by reference and made an integral part of this Agreement.

 

By
signing this Agreement, the Grantee: (a) represents that the Grantee has received copies of, and has read and is familiar with
the terms and conditions of, the Notice, the Plan and this Agreement, (b) accepts that the Options, the Shares issued upon the
exercise thereof and/or any securities issued or distributed with respect thereto are subject to all of the terms and conditions
of the Notice, the Plan this Agreement, the Trust Agreement (as defined below) and any other documents ancillary hereto or thereto,
and (c) agrees to accept as binding, conclusive and final all decisions and interpretations of the Board or the Committee upon
any questions arising under the Notice, the Plan or this Agreement (whether before or after the issuance of Shares pursuant to
the Options). While certain terms and conditions are included in this Agreement, such terms and conditions shall not in any way
derogate from the applicability of all other terms and conditions set forth in the Plan. The Grantee acknowledges that the terms
and conditions of the Plan may be amended from time to time as set forth therein, and therefore, any reference to the Plan shall
be deemed to refer to the Plan as amended from time to time, including any amendments adopted after the date of grant. Unless
otherwise stated, in the event of any inconsistency or contradiction between any of the terms of this Agreement and the provisions
of the Plan, the terms and provisions of this Agreement shall prevail.

 

1.
No Disposition of Options. The Options shall not be sold, pledged or otherwise transferred (whether by operation
of law or otherwise), and shall not be subject to sale under execution, attachment, levy or similar process (each of the foregoing,
a “Transfer”) other than by will or by the laws of descent and distribution.

 

2.
Issuance and Disposition of Shares.

 

2.1.
Legal Compliance. The Company shall have no obligations to issue Shares pursuant to the exercise or settlement of Options
and Options may not be exercised or settled (even if vested), if the issuance of Shares upon exercise or settlement would constitute
a violation of any Applicable Laws as determined by the Company, including, applicable federal, state or foreign securities laws
or other law or regulations or the requirements of any stock exchange or market system upon which the Shares may then be listed.
THE GRANTEE IS CAUTIONED THAT THE OPTIONS MAY NOT BE EXERCISED UNLESS THE FOREGOING CONDITIONS AND THOSE SET FORTH IN THE PLAN
ARE SATISFIED. ACCORDINGLY, THE OPTIONEE MAY NOT BE ABLE TO EXERCISE THE OPTIONS WHEN DESIRED EVEN THOUGH THE OPTION IS VESTED.

 

    	 	2	 

    	 

    

 

2.2.
Provisions Governing Shares. Shares issued upon exercise of Options shall be subject to the restrictions referred to in
Section 16 of the Plan (Conditions upon Issuance of Shares; Governing Provisions) and in this Agreement, the Articles of Incorporation
of the Company, any limitation, restriction or obligation included in any stockholders agreement applicable to all or substantially
all of the holders of Shares (regardless of whether or not the Grantee is a formal party to such stockholders agreement), any
other governing documents of the Company, and all policies, manuals and internal regulations adopted by the Company from time
to time, in each case, as may be amended from time to time, including, without limitation, any provisions included therein concerning
restrictions or limitations on disposition of Shares (such as, but not limited to, right of first refusal and lock-up/market stand-off)
or grant of any rights with respect thereto, forced sale and bring along provisions, any provisions concerning a restrictions
on the use of inside information and other provisions deemed by the Company to be appropriate in order to ensure compliance with
Applicable Laws and with the requirements of any transaction entered into or proposed to be entered into by the Company. By exercising
an Option the Grantee is deemed to have undertaken to comply with all the foregoing provisions. The Grantee shall execute (and
authorizes any person designated by the Company to so execute, as well as (if applicable) the Trustee holding any Shares for the
Grantee’s behalf) such separate agreement(s) as may be requested by the Company relating to matters set forth in or otherwise
for the purpose of implementing this Section ‎2.2. The execution of such separate agreement(s) may be a condition by the Company
to the exercise of any Award and the Company (and, if applicable, the Trustee) may exercise its authorization above and sign such
agreement on behalf of the Grantee or subject the Grantee to the provisions of such agreements.

 

2.3.
Waiver. As a material precondition to the Company’s grant of Options and issuance of any Shares under the Plan, the
Grantee hereby irrevocably waives any right of first refusal, pre-emptive, co-sale, participation rights or other similar rights
with respect to any prior or future Transfer of any shares in the Company by other stockholders or the issuance of securities
by the Company, if such right was so provided in any agreement between the Company and any of its stockholders, in the Articles
of Incorporation or in any other governing document of the Company. The Grantee acknowledges and agrees that the Company and its
stockholders are entitled to rely on this irrevocable waiver.

 

2.4.
Additional or Substituted Securities. In the event that in connection with the declaration of a share dividend (bonus shares),
a share split, a reverse share split, a reorganization (which may include a combination or exchange of shares), a consolidation,
a spin-off or other corporate divestiture or division, a recapitalization, a reclassification or other similar occurrence affecting
the Company’s outstanding securities without receipt of consideration (or in consideration for the par value, if shares
bear par value), any new, substituted or additional securities or other property (other than cash dividend) are distributed by
reason of such occurrence with respect to any Shares which are subject to this Section ‎2, or into which such Shares thereby
become convertible, then such substituted or additional securities or other property (if distributed) shall immediately be subject
to this Section ‎2. Any adjustments to reflect the distribution of such securities or other property shall be conclusively
determined by the Company. The terms and conditions contained herein and in the Plan in respect of the Option and/or the Shares
shall apply to any new, substituted or additional securities or other property resulting from the above adjustments.

 

2.5.
Market Stand-Off. As a material precondition to the grant of Options and the issuance of any Shares in accordance with
the Plan, and without limitation of Section 17 of the Plan, the Grantee hereby agrees that in connection with any underwritten
public offering of equity securities of the Company pursuant to an effective registration statement filed under the U.S. Securities
Act of 1933, as amended, or equivalent law in another jurisdiction, and in recognition of the benefit that such an offering will
confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the undersigned agrees with the Company and each underwriter, during the Lock Up Period (as
defined below), that the undersigned will not, without the prior written consent of the Company or the underwriters (or the lead
underwriter, as the underwriters shall agree among themselves), directly or indirectly, (i) lend, offer, pledge, sell, contract
to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant
for the sale of, or otherwise dispose of or transfer any shares of the Company or any securities convertible into or exchangeable
or exercisable for shares or securities of the Company, whether now owned or hereafter acquired by the undersigned or with respect
to which the undersigned has or hereafter acquires the power of disposition (including, without limitation, awards under any Company
share or equity plan) and any shares or other securities issued or distributed with respect to or in substitution of any of the
foregoing (collectively, the “Lock Up Securities”), (ii) exercise any right with respect to the registration
of any of the Lock Up Securities, or file or cause to be filed any registration statement in connection therewith, under the U.S.
Securities Act of 1933, as amended, or equivalent law in another jurisdiction, or (iii) enter into any swap or any other agreement
or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of the Lock
Up Securities, whether any such swap or transaction in this clause (iii) or (i) above is to be settled by delivery of shares or
other securities of the Company, in cash or otherwise. The foregoing shall not apply to the sale of any shares to an underwriter
pursuant to an underwriting agreement. The Lock Up Period shall be: (A) until the expiration of 90 days following the effective
date of such registration statement relating to any other public offering; or (B) as shall be requested by the Company or the
underwriter(s). Notwithstanding anything herein to the contrary, if the underwriter(s) and the Company agreed on a termination
date of the Lock Up Period in the event of failure to consummation a certain public offering, then such termination shall apply
also to the Lock Up Period hereunder with respect to that particular public offering.

 

    	 	3	 

    	 

    

 

2.6.
Data Privacy; Data Transfer. Information related to the Grantee and Award(s) hereunder, as shall be received from Grantee
or others, and/or held by, the Company or its Affiliates from time to time, and which information may include sensitive and personal
information related to the Grantee (“Information”), will be used by the Company or its Affiliates (or third
parties appointed by any of them, including the Trustee) to comply with any applicable legal requirement, or for administration
of the Plan as they deems necessary or advisable, or for the respective business purposes of the Company or its Affiliates (including
in connection with transactions related to any of them). The Company and its Affiliates shall be entitled to transfer the Information
among the Company or its Affiliates and to third parties for the purposes set forth above, which may include persons located abroad
(including, any person administering the Plan or providing services in respect of the Plan or in order to comply with legal requirements,
or the Trustee, their respective officers, directors, employees and representatives, and the respective successors and assigns
of any of the foregoing), and any person so receiving Information shall be entitled to transfer it for the purposes set forth
above. The Company shall use commercially reasonable efforts to ensure that the transfer of such Information shall be limited
to the reasonable and necessary scope. By receiving an Award hereunder, Grantee acknowledges and agrees that the Information is
provided at Grantee’s free will and that Grantee hereby consents to the storage and transfer of the Information as set forth
above.

 

3.
Exercise Procedures.

 

3.1.
The Grantee may exercise Options that have become exercisable by giving a signed written notice to the Company, delivered in person
or by mail (or such other methods of delivery prescribed by the Company) to the Chief Financial Officer of the Company or to such
other person as determined by the Committee, or in any other manner as the Committee shall prescribe from time to time. The exercise
notice shall be in a form prescribed by the Company from time to time. The Grantee shall specify in the notice the election to
exercise Options, the number of Shares for which it is being exercised (which may be equal to or lower than the aggregate number
of Shares that have become exercisable at such time, subject to the last sentence of this Section), accompanied by payment of
the aggregate Exercise Price for such Shares in the manner permitted by the Plan. In the event that Options are being exercised
by the representative of the Grantee, if permitted under the Plan, the notice shall be accompanied by proof (satisfactory to the
Company) of the representative’s right to exercise such Options.

 

3.2.
After receiving a proper and duly executed notice of exercise in the form prescribed by the Company, the Company shall cause to
be issued a certificate or certificates for the Shares as to which the Options have been exercised, registered in the name of
the person exercising such Options, except that in case of Options designated as 102 Trustee Awards, the Shares shall be issued
to and in the name of the Trustee for the benefit of the Grantee. The issuance shall be subject to the payment of any and all
applicable taxes and compulsory payments by the Grantee. Subject to Section 19 of the Plan, the Grantee shall have no rights as
a stockholder with respect to any Shares subject to Options until the Grantee shall have duly exercised the Options, paid the
full Exercise Price therefor, if required, paid all applicable taxes and compulsory payments therefor and becomes the record holder
of the subject Shares.

 

3.3.
Without derogating from the provision of the Plan, in the event that the Company or, with respect to 102 Trustee Awards, the Trustee,
determines that it is required to withhold any tax as a result of the exercise of Options, the Grantee, as a condition to the
exercise of Options, shall make arrangements satisfactory to the Company and the Trustee, if applicable, to enable it to satisfy
all withholding requirements. The Grantee shall also make arrangements satisfactory to the Company and the Trustee, if applicable,
to enable it to satisfy any withholding requirements that may arise in connection with the vesting or disposition of Shares acquired
pursuant to the grant of an Option under the Plan. Furthermore, the Grantee shall indemnify the Company and the Trustee, if applicable,
and hold them harmless against and from any and all liability for any such tax or interest or penalty thereon, including without
limitation, liabilities relating to withholding.

 

    	 	4	 

    	 

    

 

4.
Payment of Exercise Price. The Exercise Price shall be paid in cash or in such other manner as determined in accordance
with the Plan.

 

5.
Repurchase Right. Grantee agrees that all Shares issued pursuant to the exercise of the Options shall be subject
to certain repurchase rights in favor of the Company or its assigns as provided in the Plan.

 

6.
Restricted Securities. Grantee acknowledges and understands that, unless the issuance of Shares that may be acquired
upon exercise of the Options is registered under the Securities Act of 1934, as amended (the “Securities Act”),
before any exercise of the Options, the Shares acquired upon exercise of the Options will be characterized as “restricted
securities” under the federal securities laws, as the shares will be acquired from the Company in a transaction not involving
a public offering, and that under such laws and applicable regulations the Shares may not be resold without registration under
the Securities Act, except in certain limited circumstances. The Grantee represents to the Company that he or she is either familiar
with Rule 144 promulgated under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby
and by the Securities Act, or has sought counsel from someone with such knowledge.

 

The Grantee acknowledges that if an exemption from registration or qualification is available, it may be conditioned on various
requirements, including, but not limited to, the time and manner of sale, the holding period for the Shares, and on requirements
relating to the Company that are outside the Grantee’s control, and which the Company is under no obligation to satisfy
and may not be able to satisfy. Prior to any transfer of the Shares by the Grantee, the Company retains the right to request and
receive from the Grantee an opinion of counsel that the proposed transfer may be completed in compliance with all applicable federal
and state securities laws.

 

7.
Legend. Unless the issuance of Shares that may be acquired upon exercise of the Options is registered under the
Securities Act, the Company may at any time place legends referencing the restriction imposed on the Shares (including, without
limitation, right of first refusal and right of repurchase) and any applicable federal, state or foreign securities law restrictions
on all certificates representing Shares subject to the provisions of this Agreement. The Grantee shall, at the request of the
Company, promptly present to the Company any and all certificates representing Shares acquired pursuant to Options in the possession
of the Grantee in order to carry out the provisions of this Section. Unless otherwise specified by the Company, legends placed
on such certificates may include, but shall not be limited to, the following:

 

7.1.
THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”) OR SUCH APPLICABLE LAWS OF OTHER JURISDICTIONS, OR QUALIFIED UNDER ANY SECURITIES LAW OR ANY OTHER JURISDICTION, AND,
SUBJECT TO THEIR TERMS, MAY NOT BE OFFERED, SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH APPLICABLE LAWS OF OTHER JURISDICTIONS COVERING SUCH SECURITIES, OR THE
COMPANY RECEIVES AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY, STATING THAT SUCH OFFERING, SALE, TRANSFER, ASSIGNMENT, PLEDGE
OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION OR PROSPECTUS DELIVERY REQUIREMENTS OF THE SECURITIES ACT OR THE QUALIFICATION
REQUIREMENTS UNDER APPLICABLE LAW.

 

7.2.
THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE COMPANY’S ARTICLES OF INCORPORATION, THE COMPANY’S SHARE
INCENTIVE PLAN AND THE OPTION AGREEMENT WITH THE COMPANY, EACH AS AMENDED FROM TIME TO TIME, A COPY OF WHICH IS ON FILE AT THE
PRINCIPAL OFFICE OF THIS COMPANY.

 

8.
Term and Expiration. The Options shall expire in accordance with the Plan, including in case the Grantee’s
employment or service terminates for any reason.

 

    	 	5	 

    	 

    

 

9.
Tax Matters and Consultation.

 

9.1.
THE GRANTEE IS ADVISED TO CONSULT WITH A TAX ADVISOR WITH RESPECT TO THE TAX CONSEQUENCES OF RECEIVING OR EXERCISING OPTIONS HEREUNDER.
THE COMPANY DOES NOT ASSUME ANY RESPONSIBILITY TO ADVISE THE GRANTEE ON SUCH MATTERS, WHICH SHALL REMAIN SOLELY THE RESPONSIBILITY
OF THE GRANTEE. Without derogating from Section 18 of the Plan, and notwithstanding anything to the contrary, including the indication
under “Intended Type of Award” above, the Company shall be under no duty to ensure, and no representation or commitment
is made, that the Options qualify or will qualify under any particular tax treatment (such as Section 102, ISO or any other treatment),
nor shall the Company be required to take any action for the qualification of any Option under such tax treatment. If the Options
do not qualify under any particular tax treatment it could result in adverse tax consequences to the Grantee. By signing below,
Grantee agrees that the Company and its Affiliates and their respective employees, directors, officers and stockholders shall
not be liable for any tax, penalty, interest or cost incurred by Grantee as a result of such determination, nor will any of them
have any liability of any kind or nature in the event that, for any reason whatsoever, an Option does not qualify for any particular
tax treatment.

 

9.2.
Without limitation of the foregoing, with respect to Incentive Stock Option and Nonqualified Stock Option, there is no guarantee
that the Internal Revenue Service (“IRS”) will determine that the Exercise Price of these Options represent
the fair market value thereof as of the Date of Grant in compliance with the requirements of Section 409A of the Code. If the
IRS determines that the Exercise Price is less than such fair market value it could result in adverse tax consequences to Grantee.

 

9.3.
In case of Incentive Stock Options, adjustments made pursuant to the Plan with respect to Incentive Stock Options could constitute
a “modification” of such Incentive Stock Options (as that term is defined in Section 424(h) of the Code) or could
cause adverse tax consequences for the Grantee and the Grantee should consult with his or her tax advisor regarding the consequences
of such “modification” on his or her income tax treatment with respect to the Incentive Stock Option.

 

10.
Section 102 Awards.

 

10.1.
Eligibility for Awards. Subject to Applicable Law, 102 Awards may only be granted to an “employee” within the
meaning of Section 102(a) of the Ordinance (which as of the date hereof means (i) individuals employed by an Israeli company being
the Company or any of its Affiliates, and (ii) individuals who are serving and are engaged personally (and not through an entity)
as “office holders” by such an Israeli company), but may not be granted to a Controlling Shareholder (“Eligible
102 Grantees”). Eligible 102 Grantees may receive only 102 Awards, which may either be granted to a Trustee or granted
under Section 102 of the Ordinance without a Trustee.

 

10.2.
102 Award Grant Date.

 

10.2.1.
Each 102 Award will be deemed granted on the date determined by the Committee, subject to Section ‎10.2.2, provided that (i)
the Grantee has signed all documents required by the Company or pursuant to Applicable Law, and (ii) with respect to 102 Trustee
Awards, the Company has provided all applicable documents to the Trustee in accordance with the guidelines published by the ITA,
and if this Agreement is not signed and delivered by the Grantee within 90 days from the date determined by the Committee (subject
to Section ‎10.2.2), then such 102 Trustee Award shall be deemed granted on such later date as this Agreement is signed and
delivered and on which the Company has provided all applicable documents to the Trustee in accordance with the guidelines published
by the ITA. In the case of any contradiction, this provision and the date of grant determined pursuant hereto shall supersede
and be deemed to amend any date of grant indicated in the Notice or in any corporate resolution or any agreement.

 

10.2.2.
Unless otherwise permitted by the Ordinance, any grants of 102 Trustee Awards that are made on or after the date of the adoption
of this Plan or an amendment to this Plan, as the case may be, that may become effective only at the expiration of thirty (30)
days after the filing of this Plan or any amendment thereof (as the case may be) with the ITA in accordance with the Ordinance
shall be conditional upon the expiration of such 30-day period, such condition shall be read and is incorporated by reference
into any corporate resolutions approving such grants and into this Agreement and any agreement evidencing such grants (whether
or not explicitly referring to such condition), and the date of grant shall be at the expiration of such 30-day period, whether
or not the date of grant indicated therein corresponds with this Section ‎10.2. In the case of any contradiction, this provision
and the date of grant determined pursuant hereto shall supersede and be deemed to amend any date of grant indicated in the Notice
or in any corporate resolution or any agreement.

 

    	 	6	 

    	 

    

 

10.3.
To the extent and with respect to 102 Trustee Awards, the Grantee acknowledges, undertakes and confirms that: (i) the Grantee
fully understands that Section 102 Ordinance and the rules and regulations enacted thereunder apply to the Options, and (ii) the
Grantee understands the provisions of Section 102 of the Ordinance, the tax track chosen thereunder and the implications thereof.
If applicable, the terms of such Options shall also be subject to the terms of the Trust Agreement made between the Company and
the Trustee for the benefit of the Grantee (as amended, the “Trust Agreement”), and the Grantee shall sign
all documents requested by the Company or the Trustee, in accordance with and under the Trust Agreement. A copy of the Trust
Agreement is available for the Grantee’s review, during normal working hours, at the Company’s offices.

 

10.4.
Grantee Undertaking. Without derogating from the generality of the foregoing, to the extent and with respect to any Options
that are 102 Capital Gain Track Awards, and as required by Section 102 of the Ordinance and the Rules, the Grantee acknowledges,
undertakes and confirms in writing the following (which shall be apply and relate to all Awards granted to the Grantee, whether
under this Plan or other plans maintained by the Company, and whether prior to or after the date hereof, if any):

 

10.4.1.
The Grantee shall comply with all terms and conditions set forth in Section 102 of the Ordinance with regard to the “Capital
Gain Track” and the applicable rules and regulations promulgated thereunder, as amended from time to time;

 

10.4.2.
The Grantee is familiar with, and understands the provisions of, Section 102 of the Ordinance in general, and the tax arrangement
under the “Capital Gain Track” in particular, and its tax consequences; the Grantee agrees that the Options and Shares
that may be issued upon exercise of the Options (or otherwise in relation to the Options), will be held by a trustee appointed
pursuant to Section 102 of the Ordinance for at least the duration of the Holding Period, as defined in Section 102 under the
“Capital Gain Track”. The Grantee understands that any release of such Options or Shares from trust, or any sale of
the Share prior to the termination of the Holding Period, will result in taxation at marginal tax rates, in addition to deductions
of appropriate social security, health tax contributions or other compulsory payments; and

 

10.4.3.
The Grantee agrees to the trust agreement signed between the Company, his employing company and the trustee appointed pursuant
to Section 102 of the Ordinance and shall sign all documents requested by the Company or the Trustee, in accordance with and under
the trust agreement.

 

11.
Plan Termination or Amendment. The Board may terminate
or amend the Plan or the Options at any time, subject to the Plan and any such amendment shall apply on the Grantee and this Option
Agreement (including the Options and Shares issuable or issued pursuant thereto), without any required consent of the Grantee.
Except as set forth above, this Agreement shall not be amended without the consent of the parties hereto.

 

12.
Miscellaneous.

 

12.1.
Further Assurances. The Grantee shall perform such further acts and execute such further documents as may reasonably be
necessary by the Company to carry out and give full effect to the provisions of this Agreement and the Plan.

 

12.2.
Fractional Shares. No fractional Share shall be issuable upon exercise or vesting of any Options and the number of Shares
to be issued shall be rounded down to the nearest whole Share, with any Share remaining at the last vesting date due to such rounding
to be issued upon exercise at such last vesting date.

 

12.3.
Entire Agreement. This Agreement (together with the Notice and all Exhibits) and the Plan constitutes the full and entire
understanding and agreement between the parties with regard to the subject matters hereof and thereof, and supersede all prior
agreements and understandings, both written and oral (with no concession being made as to the existence of any such agreements
and understandings).

 

12.4.
Governing Law; Jurisdiction. This Agreement shall be governed by and construed according to the laws of the State of Israel,
without regard to the conflict of law provisions thereof. Any dispute arising under or proceeding in relation to this Agreement
shall be resolved exclusively in the competent court in Tel Aviv-Jaffa, and each of the parties hereby irrevocably submits to
the exclusive jurisdiction of such court.

 

12.5.
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and
enforceable against the parties, and all of which together shall be considered one and the same agreement, it being understood
that all parties need not sign the same counterpart. The exchange of an executed Agreement (in counterparts or otherwise) by facsimile
transmission, electronic transmission or electronic signature shall be sufficient to bind the parties to the terms and conditions
of this Agreement, as an original.

 

-
Signature Pages Following -

 

    	 	7	 

    	 

    

 

IN
WITNESS WHEREOF, the parties have duly executed and delivered this OPTION AGREEMENT as of the date last written below.

 

	Grantee:	 	SCOUTCAM
    INC.
	 	 	 
	Name:	 	 	Name:
    	                
	ID
    No.: 	 	 	Title:
    	 
	Date:
    	 	 	Date:shsp_ex44

Exhibit
4.4

DESCRIPTION OF THE REGISTRANT’S SECURITIES

REGISTERED PURSUANT TO SECTION 12 OF THE

SECURITIES EXCHANGE ACT OF 1934

 

SharpSpring,
Inc. (the “Company” or “we” or
“our”) has one class of securities registered under
Section 12 of the Securities Exchange Act of 1934, our common
stock, par value $0.001 per share (the “common
stock”).

 

Description of Common Stock

 

The
following description of our common stock is a summary and does not
purport to be complete. It is subject to and qualified in its
entirety by reference to our Certificate of Incorporation, as
amended (the “certificate of incorporation”) and our
Bylaws (the “bylaws”), each of which are incorporated
by reference as an exhibit to the Annual Report on Form 10-K of
which this exhibit is a part. We encourage you to read our
certificate of incorporation, our bylaws and the applicable
provisions of the Delaware General Corporation Law (the
“DGCL”) for additional information.

 

Authorized Share
Capital. The
Company’s authorized capital stock consists of 50,000,000
shares of common stock, par value $0.001 per share and 5,000,000
shares of preferred stock, par value $0.001 per
share.

 

Voting. Holders of our common stock are entitled to one
vote for each share held of record on all matters to be voted on by
stockholders. There is no cumulative voting with respect to the
election of directors, with the result that directors will be
elected by a plurality of the votes cast.

 

Dividend
Rights. Holders of our common
stock are entitled to receive dividends when, as and if declared by
our board of directors out of funds legally available for this
purpose.

 

Liquidation
Preferences. In the event of
our liquidation, dissolution or winding up, holders of our common
stock are entitled to receive on a proportional basis any assets
remaining available for distribution after payment of our
liabilities.

 

Other Terms. Holders of common stock have no conversion,
preemptive or other subscription rights and there are no sinking
fund or redemption provisions applicable to the common stock. All
outstanding shares of the common stock are fully paid and
non-assessable.

 

Anti-Takeover Provisions

 

Certain
of our charter, statutory and contractual provisions could make the
removal of our management and directors more difficult and may
discourage transactions that otherwise could involve payment of a
premium over prevailing market prices for our common stock.
Furthermore, the existence of the foregoing provisions, as well as
the significant common stock beneficially owned by our executive
officers, and certain members of our board of directors, could
lower the price that investors might be willing to pay in the
future for shares of our common stock. They could also deter
potential acquirers of our Company, thereby reducing the likelihood
that you could receive a premium for your common stock in an
acquisition.

 

 

 

 

 

Charter and Bylaw Provisions

 

In
addition to the board of directors’ ability to issue shares
of preferred stock, our amended certificate of incorporation and
bylaws contain the following provisions that may have the effect of
discouraging unsolicited acquisition proposals:

 

●

prohibit
cumulative voting in the election of directors, which would
otherwise allow less than a majority of stockholders to elect
director candidates;

●

empower
our board of directors to fill any vacancy on our board of
directors, whether such vacancy occurs as a result of an increase
in the number of directors or otherwise;

●

provide
that our board of directors is expressly authorized to adopt, amend
or repeal our bylaws; and

●

provide
that our directors will be elected by a plurality of the votes cast
in the election of directors.

 

These provisions could lower the price that future investors might
be willing to pay for shares of our common stock.

 

Delaware Law

 

Section
203 of the DGCL is applicable to takeovers of certain Delaware
corporations, including us. Subject to exceptions enumerated in
Section 203, Section 203 provides that a corporation shall not
engage in any business combination with any “interested
stockholder” for a three-year period following the date that
the stockholder becomes an interested stockholder
unless:

 

●

prior
to that date, the board of directors of the corporation approved
either the business combination or the transaction that resulted in
the stockholder becoming an interested stockholder;

●

upon
consummation of the transaction that resulted in the stockholder
becoming an interested stockholder, the interested stockholder
owned at least 85% of the voting stock of the corporation
outstanding at the time the transaction commenced, though some
shares may be excluded from the calculation; or

●

on
or subsequent to that date, the business combination is approved by
the board of directors of the corporation and by the affirmative
votes of holders of at least two-thirds of the outstanding voting
stock that is not owned by the interested stockholder.

 

Except
as specified in Section 203, an interested stockholder is generally
defined to include any person who, together with any affiliates or
associates of that person, beneficially owns, directly or
indirectly, 15% or more of the outstanding voting stock of the
corporation, or is an affiliate or associate of the corporation and
was the owner of 15% or more of the outstanding voting stock of the
corporation, any time within three years immediately prior to the
relevant date. Under certain circumstances, Section 203 makes it
more difficult for an interested stockholder to effect various
business combinations with a corporation for a three-year period,
although the stockholders may elect not to be governed by this
section, by adopting an amendment to the certificate of
incorporation or bylaws, effective 12 months after adoption. Our
certificate of incorporation, as amended, and bylaws do not opt out
from the restrictions imposed under Section 203. We anticipate that
the provisions of Section 203 may encourage companies interested in
acquiring us to negotiate in advance with the board because the
stockholder approval requirement would be avoided if a majority of
the directors then in office excluding an interested stockholder
approve either the business combination or the transaction that
resulted in the stockholder becoming an interested stockholder.
These provisions may have the effect of deterring hostile takeovers
or delaying changes in control, which could depress the market
price of our common stock and deprive stockholders of opportunities
to realize a premium on shares of common stock held by
them.

 

 

 

 

 

 

Contractual Provisions

 

Our
employee stock option agreements include change-in-control
provisions that allow us to grant options or stock purchase rights
that may become vested immediately upon a change in control. The
terms of change of control provisions contained in certain of our
senior executive employee agreements may also discourage a change
in control of our Company.

 

Our
board of directors also has the power to adopt a stockholder rights
plan that could delay or prevent a change in control of our Company
even if the change in control is generally beneficial to our
stockholders. These plans, sometimes called “poison
pills,” are oftentimes criticized by institutional investors
or their advisors and could affect our rating by such investors or
advisors. If our board of directors adopts such a plan, it might
have the effect of reducing the price that new investors are
willing to pay for shares of our common stock.

 

Together,
these charter, statutory and contractual provisions could make the
removal of our management and directors more difficult and may
discourage transactions that otherwise could involve payment of a
premium over prevailing market prices for our common stock.
Furthermore, the existence of the foregoing provisions, as well as
the significant common stock beneficially owned by our founder,
executive officers, and certain members of our board of directors,
could limit the price that investors might be willing to pay in the
future for shares of our common stock. They could also deter
potential acquirers of our Company, thereby reducing the likelihood
that you could receive a premium for your common stock in an
acquisition.

 

Preferred Stock

 

The
common stock is subject to the express terms of the Company’s
preferred stock and any series thereof. The board of directors may
issue preferred stock with voting, dividend, liquidation and other
rights that could adversely affect the relative rights of the
holders of the common stock.

 

Listing

 

Our shares of common stock are listed on
the NASDAQ under the symbol
“SHSP.”

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