Document:

Exhibit
4.1

 

DESCRIPTION
OF SECURITIES

 

General

 

The
following description of our capital stock is a summary. This summary is subject to the DGCL and the complete text of our Amended and
Restated Certificate of Incorporation and Amended and Restated Bylaws.

 

Our
authorized capital stock consists of shares made up of 200,000,000 shares of common stock, par value $0.01 per share and 5,000,000 shares
of undesignated preferred stock, par value $0.01 per share.

 

Common
stock

 

Each
share of our common stock outstanding is entitled to one vote on all matters on which our stockholders generally are entitled to vote.
However, holders of our common stock are not be entitled to vote on any amendment to the Amended and Restated Certificate of Incorporation
that relates solely to the terms of one or more outstanding classes or series of preferred stock if the holders of such affected classes
or series are entitled, either separately or together with the holders of one or more other such class or series, to vote thereon pursuant
to the Amended and Restated Certificate of Incorporation or the DGCL.

 

Generally,
the Amended and Restated Bylaws provide that, subject to applicable law or the Amended and Restated Certificate of Incorporation and/or
the Amended and Restated Bylaws, all corporate actions to be taken by vote of the stockholders are authorized by a majority of the votes
cast by the stockholders entitled to vote thereon who are present in person, or by remote communication, if applicable, or represented
by proxy, and where a separate vote by class or series is required, a majority of the votes cast by the stockholders of such class or
series who are present in person, or by remote communication, if applicable, or represented by proxy will be the act of such class or
series. Directors are elected by a plurality of the votes cast at a meeting of our stockholders for the election of directors at which
a quorum is present.

 

Subject
to the rights of holders of any then outstanding class or series of preferred stock, holders of our common stock are entitled to receive
dividends and other distributions in cash, stock or property as the board of directors may declare thereon from time to time, and share
equally on a per share basis in all such dividends and other distributions. In the event of our dissolution, whether voluntary or involuntary,
after the payment in full of the amounts required to be paid to the holders of any outstanding class or series of preferred stock, our
remaining assets and funds available for distribution will be distributed pro rata to the holders of our Common stock in proportion to
the number of shares held by them and to the holders of any class or series of preferred stock entitled to a distribution. Holders of
our Common stock do not have preemptive rights to purchase shares of our Common stock. All outstanding shares of our Common stock are
be fully paid and non- assessable. The rights, preferences and privileges of holders of our Common stock are subject to those of the
holders of any outstanding class or series of our preferred stock that we may issue in the future.

 

Blank
Check Preferred Stock

 

Our
board of directors may, from time to time, authorize the issuance of one or more classes or series of preferred stock without stockholder
approval. The Amended and Restated Certificate of Incorporation permits us to issue up to 5,000,000 shares of preferred stock. The number
of authorized shares of preferred stock may be increased or decreased (but not below the number of shares thereof then outstanding) by
the affirmative vote of the holders of a majority of our capital stock entitled to vote thereon, without a separate class vote of the
holders of preferred stock, or any separate series votes of any series thereof, unless a vote of any such holders is required pursuant
to the terms of any preferred stock certificate of designations.

 

    	 

     

    

 

Subject
to the provisions of the Amended and Restated Certificate of Incorporation and limitations prescribed by law, our board of directors
is expressly authorized, by resolution or resolutions, to provide, out of the unissued shares of preferred stock, for classes and series
of preferred stock. The board of directors may fix the number of shares constituting such class or series and the designation of such
class or series and the powers (including voting, if any), preferences and relative, participating, optional or other special rights,
if any, and any qualifications, limitations or restrictions thereof, of the shares of such class or series. Each class or series is appropriately
designated by a distinguishing designation prior to the issuance of any shares thereof. The powers (including voting, if any), preferences
and relative, participating, optional and other special rights of each series of preferred stock, and the qualifications, limitations
or restrictions thereof, if any, may differ from those of any and all other classes and series of preferred stock at any time outstanding.

 

The
issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, may adversely
affect the rights our common stockholders by, among other things:

 

	 	●	restricting
    dividends on the common stock;
	 	 	 
	 	●	diluting
    the voting power of the common stock;
	 	 	 
	 	●	impairing
    the liquidation rights of the common stock; or
	 	 	 
	 	●	delaying
    or preventing a change in control without further action by the stockholders.

 

As
a result of these or other factors, the issuance of preferred stock could have an adverse impact on the market price of our common stock.
There is no current intention for us to issue any shares of preferred stock.

 

Anti-takeover
Effects of Certain Provisions of the Amended and Restated Certificate of Incorporation and the Amended and Restated Bylaws

 

General

 

The
Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws contains provisions that are intended to enhance the
likelihood of continuity and stability in the composition of our board of directors and that could make it more difficult to acquire
control of us by means of a tender offer, open market purchases, a proxy contest or otherwise. A description of these provisions is set
forth below.

 

Delaware
Anti-Takeover Law

 

We
are subject to Section 203 of the Delaware General Corporation Law. Section 203 generally prohibits a public Delaware corporation from
engaging in a “business combination” with an “interested stockholder” for a period of three years after the date
of the transaction in which the person became an interested stockholder, unless:

 

	 	●	prior
    to the date of the transaction, the board of directors of the corporation approved either the business combination or the transaction
    which 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, excluding specified shares;
    or
	 	 	 
	 	●	at
    or subsequent to the date of the transaction, the business combination is approved by the board of directors and authorized at an
    annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 662/3% of the
    outstanding voting stock which is not owned by the interested stockholder.

 

    	 

     

    

 

Section
203 defines a “business combination” to include:

 

	 	●	any
    merger or consolidation involving the corporation and the interested stockholder;
	 	 	 
	 	●	any
    sale, lease, exchange, mortgage, pledge, transfer or other disposition of 10% or more of the assets of the corporation to or with
    the interested stockholder;
	 	 	 
	 	●	subject
    to exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the
    interested stockholder;
	 	 	 
	 	●	subject
    to exceptions, any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of
    any class or series of the corporation beneficially owned by the interested stockholder; or
	 	 	 
	 	●	the
    receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided
    by or through the corporation.

 

In
general, Section 203 defines an “interested stockholder” as any person that is:

 

	 	●	the
    owner of 15% or more of the outstanding voting stock of the corporation;
	 	 	 
	 	●	an
    affiliate or associate of the corporation who was the owner of 15% or more of the outstanding voting stock of the corporation at
    any time within three years immediately prior to the relevant date; or
	 	 	 
	 	●	the
    affiliates and associates of the above.

 

Under
specific 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, by adopting an amendment to the corporation’s certificate
of incorporation or bylaws, elect not to be governed by Section 203. The election not to be governed by Section 203 is effective (i)
upon the filing of the certificate of amendment with the Secretary of State of the State of Delaware or the adoption of the amendment
to the bylaws, as applicable, for a corporation that does not have a class of voting stock listed on a national securities exchange or
held of record by more than 2,000 stockholders or (ii) 12 months after such action for all other corporations.

 

Our
Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws do not exclude it from the restrictions of Section
203. We anticipate that the provisions of Section 203 might encourage companies interested in acquiring it to negotiate in advance with
its board of directors since the stockholder approval requirement would be avoided if a majority of the directors then in office approve
either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder.

 

No
Cumulative Voting

 

Under
Delaware law, the right to vote cumulatively does not exist unless the certificate of incorporation specifically authorizes cumulative
voting. The Amended and Restated Certificate of Incorporation does not grant stockholders the right to vote cumulatively.

 

    	 

     

    

 

Blank
Check Preferred Stock

 

We
believe that the availability of the preferred stock under the Amended and Restated Certificate of Incorporation provides us with flexibility
in addressing corporate issues that may arise. Having these authorized shares available for issuance allows us to issue shares of preferred
stock without the expense and delay of a special stockholders’ meeting. The authorized shares of preferred stock, as well as shares
of common stock, is available for issuance without further action by our stockholders, with the exception of any actions required by
applicable law or the rules of any stock exchange on which our securities may be listed. The board of directors has the power, subject
to applicable law, to issue classes or series of preferred stock that could, depending on the terms of the class or series, impede the
completion of a merger, tender offer or other takeover attempt.

 

Advance
Notice Procedure

 

The
Amended and Restated Bylaws provide an advance notice procedure for stockholders to nominate director candidates for election or to bring
business before an annual meeting of stockholders, including proposed nominations of persons for election to the board of directors.

 

The
Amended and Restated Bylaws provide that as to the notice of stockholder proposals of business to be brought at the annual meeting of
stockholders, notice must be delivered to our secretary (i) not less than 90 days nor more than 120 days prior to the first anniversary
of the preceding year’s annual meeting or (ii) (x) if the date of the annual meeting is advanced by more than 30 days or delayed
by more than 60 days from the first anniversary of the preceding year’s annual meeting, or (y) with respect to the first annual
meeting held after the issuance of securities pursuant to the registration statement of which this prospectus forms a part, not more
than 120 days nor less than 90 days prior to the date of such annual meeting or, if later, the 10th day following the day on which public
announcement of the date of such meeting is first made by us. In addition, any proposed business other than the nomination of persons
for election to our board of directors must constitute a proper matter for stockholder action.

 

The
Amended and Restated Bylaws provide that in the case of nominations for election at an annual meeting, notice must be delivered to, or
mailed and received at, our principal executive offices (i) not less than 90 days nor more than 120 days prior to the first anniversary
of the preceding year’s annual meeting or (ii) (x) if the date of the annual meeting is advanced by more than 30 days or delayed
by more than 60 days from the first anniversary of the preceding year’s annual meeting, or (y) with respect to the first annual
meeting held after the issuance of securities pursuant to the registration statement of which this prospectus forms a part, not more
than 120 days nor less than 90 days prior to the date of such annual meeting or, if later, the 10th day following the day on which public
announcement of the date of such annual meeting is first made by us. In the case of nominations for election at a special meeting of
stockholders called for the election of directors, notice must be delivered to, or mailed and received at, our principal executive offices
(i) not less than 90 days nor more than 120 days prior to the first anniversary of the preceding year’s annual meeting or (ii)
if later, the 10th day following the day on which public announcement of the date of such special meeting is first made by us. In addition,
each such stockholder’s notice must include certain information regarding the stockholder and the director nominee as set forth
in the Amended and Restated Bylaws as described under the section entitled “Differences in Shareholder Rights.”

 

Staggered
Board

 

Our
Amended and Restated Certificate of Incorporation provides that our board of directors is be divided into three classes of directors,
with the classes as nearly equal in number as possible. At each annual meeting of the stockholders, a class of directors will be elected
for a three-year term to succeed the directors of the same class whose terms are then expiring. As a result approximately one-third of
our directors is elected each year. The initial term of office of the directors of Class I shall expire as of our first annual meeting
of stockholders; the initial term of office of the directors of Class II shall expire as of our second annual meeting; and the initial
term of office of the directors of Class III shall expire as of the third annual meeting of our stockholders.

  

    	 

     

    

 

Our
Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws provide that the number of directors shall be fixed
from time to time by a resolution of the majority of its board of directors. Any additional directorships resulting from an increase
in the number of directors will be distributed among the three classes so that, as nearly as possible, each class shall consist of one-third
of the board of directors.

 

The
division of our board of directors into three classes with staggered three-year terms may delay or prevent stockholder efforts to effect
a change of its management or a change in control.

 

Action
by Written Consent; Special Meetings of Stockholders.

 

Our
Amended and Restated Certificate of Incorporation provide that stockholder action can be taken only at an annual or special meeting of
stockholders and cannot be taken by written consent in lieu of a meeting. Our Amended and Restated Certificate of Incorporation and Amended
and Restated Bylaws provides that, except as otherwise required by law, special meetings of the stockholders can be called only by the
board of directors, the chairperson of the board of directors, our chief executive officer or our president (in the absence of a chief
executive officer). Except as provided above, our stockholders are not to be permitted to call a special meeting or to require the board
of directors to call a special meeting.

 

Removal
of Directors.

 

Our
Amended and Restated Certificate of Incorporation does not provide for the removal of directors by stockholders.

 

Exclusive
Forum

 

Our
Amended and Restated Certificate of Incorporation provide that unless we consent in writing to the selection of an alternative forum,
the Court of Chancery of the State of Delaware shall be, to the fullest extent permitted by law, the sole and exclusive forum for any
derivative action or proceeding brought on its behalf, any action asserting a claim for breach of a fiduciary duty owed by any of its
directors and officers to it or its stockholders, any action asserting a claim arising pursuant to any provision of the DGCL, its Amended
and Restated Certificate of Incorporation, its Amended and Restated Bylaws, or any action asserting a claim governed by the internal
affairs doctrine. This exclusive forum provision would not apply to suits brought to enforce any liability or duty created by the Securities
Act or the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction. To the extent that any such claims
may be based upon federal law claims, Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to
enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder.

 

These
choice of forum provisions may limit a stockholder’s ability to bring a claim in a judicial forum that it finds favorable for disputes
with us or its directors, officers or other team members, which may discourage such lawsuits against us and our directors, officers and
other team members.

 

Federal
Forum for Securities Act Claims

 

Section
22 of the Securities Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability
created by the Securities Act or the rules and regulations thereunder. However, our Amended and Restated Certificate of Incorporation
contains a federal forum provision which provides that unless we consent in writing to the selection of an alternative forum, the federal
district courts of the United States of America will be the exclusive forum for the resolution of any complaint asserting a cause of
action arising under the Securities Act. Any person or entity purchasing or otherwise acquiring any interest in our shares of capital
stock are deemed to have notice of and consented to this provision. The Supreme Court of Delaware has held that this type of exclusive
federal forum provision is enforceable. There may be uncertainty, however, as to whether courts of other jurisdictions would enforce
such a provision, if applicable.

 

This
choice of federal forum for Securities Act claims may limit a stockholder’s ability to bring a claim in a judicial forum that it
finds favorable, which may discourage such lawsuits against us and our directors, officers and other team members.

 

Stock
Exchange Listing

 

Our
common stock is listed on the Nasdaq Capital Market under the trading symbol “INDP.”

 

Transfer
Agent and Registrar

 

The
transfer agent
and registrar for our common stock is VStock Transfer, LLC, 18 Lafayette Pl, Woodmere, NY 11598.Exhibit
10.6

 

EMPLOYMENT
AGREEMENT

 

This Employment Agreement
(this “Agreement”), effective as of January 1, 2022 (the “Effective Date”), is between Intec Pharma
Ltd. an Israeli company number 51-3022780 (the “Company”), the wholly-owned subsidiary of Indaptus Therapeutics, Inc.
(the “Indaptus”) and Nir Sassi, ID [***] whose address is [***] (the “Executive”).

 

WITNESSETH

 

WHEREAS,
the Company desires to employ the Executive to act as the Chief Financial Officer (the “Position”) and to perform
any such duties as shall be directed by the Company in accordance with any supply of services agreement it has or may have with any related
party including Indaptus, and the Executive desires to accept such employment, on the terms and conditions set forth in this Agreement.
Within the scope of his duties, Executive may be required to hold the title of CFO of any such related company and initially will be
entitled as the CFO of Indaptus.

 

NOW,
THEREFORE, in consideration of the promises and the mutual covenants and agreements contained herein and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

 

	 	1.	EMPLOYMENT;
    START DATE. Subject to the terms and conditions set forth herein, the Company hereby employs the Executive, and the Executive hereby
    accepts such employment by the Company commencing on the Effective Date. The Executive shall commence employment with the Company
    on January 1, 2022.

 

	 	2.	SCOPE
    AND PLACE OF EMPLOYMENT.

 

	 	A.	Position.
    During the term of this Agreement, Executive shall hold the Position and shall have those duties and responsibilities customarily
    associated with the title of Chief Financial Officer, including service as an officer with the title as CFO for Indaptus, plus any
    additional duties as may reasonably be assigned to him from time to time by the Company. The executive shall report to the Chief
    Executive Officer. The Executive shall be employed in a senior management position which requires a special degree of personal trust,
    as defined in the Working Hours and Rest Law (the “Management Position”). Therefore, the provisions of the aforementioned
    law shall not apply to Executive’s employment conditions. The Executive acknowledges that he may be required to travel and
    stay abroad from time to time and shall be required to work beyond regular working hours, including on late hours and during holidays
    and weekly rest hours and shall not be granted any other compensation for working on such hours. Executive acknowledges that the
    economic result of this provision has been taken into account by the parties for the purpose of determine the Salary and for their
    decision to be engaged under this Employment Agreement. Nothing herein shall derogate from any right the Executive may have, in accordance
    with any law, expansion order, collective bargaining agreement, employment agreement or any other agreement with respect to the terms
    of the Executive’s employment.

 

    	1

     

    

 

	 	B.	Business
    Time. The Executive will devote substantially all of Executive’s business time, attention, energy, skill and efforts to
    the business and affairs of the Company, and shall use his reasonable best efforts to perform the duties assigned to the Executive
    hereunder and to promote the Company’s interests. It is agreed that the Executive may devote limited business time and efforts
    on Outside Activities (as defined below) provided that such activities, either individually or in the aggregate, do not materially
    interfere with the performance of the Executive’s duties hereunder, violate any restrictive covenants and/or create a conflict
    of interest. “Outside Activities” for this purpose means (i) serving on civic or charitable boards or committees or,
    with prior approval of the board of directors of Indaptus (the “Board”), on corporate boards or committees, (ii)
    delivering lectures, (iii) fulfilling speaking engagements, (iv) teaching at educational institutions and (v) providing consulting
    services. All determinations under this Section 2 shall be made by the Company’s Chief Executive Officer in good faith.
	 	 	 
	 	C.	Place
    of Employment. The Executive’s normal place of employment will be in Israel. The Company shall provide Executive with such
    other systems or technology as may be reasonably required to perform the Executive’s duties from remote locations. The Executive
    acknowledges and agrees Executive will be required to undertake travel to fulfill the duties and responsibilities set forth under
    this Agreement as deemed necessary or appropriate by the Company.
	 	 	 
	 	D.	Compliance
    with Company Policies. The Executive shall be subject to and comply with the Company’s policies, procedures and approval
    practices as generally in effect at any time and from time to time.

 

	 	3.	PREVIOUS
    OBLIGATIONS. To the best of Executive’s knowledge, the Executive represents that his employment by the Company and the performance
    of his duties on behalf of the Company and Indaptus does not, and shall not, breach any agreement that obligates the Executive to
    keep in confidence any trade secrets or confidential or proprietary information of any other party or to refrain from competing,
    directly or indirectly, with the business of any other party.
	 	 	 
	 	4.	 COMPENSATION.
    As full compensation for all services to be rendered by Executive during the term of this Agreement, the Company will compensate
    the Executive as follows.

 

	 	A.	Base Salary. The Company shall pay the Executive a base salary at the annualized rate of $345,000 (the “Base Salary”) beginning on the Effective Date. Payment of Salary shall be subject to customary withholdings and authorized deductions and shall be payable in equal installments in accordance with the Company’s customary payroll practices in place from time to time. The Executive’s Base Salary shall be subject to review for an upward adjustment on at least an annual basis. The Executive’s Base Salary may not be adjusted downward without the Executive’s prior written consent. The Base Salary shall be paid in NIS based on the last known $/NIS exchange rate at the time of each payment as published by the Bank of Israel. For avoidance of doubt, no additional compensation shall be paid by the Company for any services provided to Indaptus or any of its subsidiaries within the scope of this Agreement.

 

	 	B.	Annual
    Bonus.

 

The
Executive will be eligible to participate in an annual executive bonus plan pursuant to which Executive may earn a bonus (“Bonus”)
equal to up to 40% of his Base Salary (such maximum bonus may be referred to as the “Target Bonus”) beginning in the
2022 calendar year.

 

Prior
to the commencement of each calendar year, the Board will establish and approve the Target Bonus for such calendar year, provided that
such Target Bonus shall not be less than 40% of the Executive’s Base Salary. Achievement of the Target Bonus will be based on the
Executive meeting individual objectives and Indaptus meeting company-wide objectives (collectively, the “Performance Criteria”).

 

    	2

     

    

 

The
Board may, in its discretion, grant the Executive a Bonus in excess of the Target Bonus if the Performance Criteria are exceeded or for
such additional contributions that the Board may choose to recognize.

 

Following
the close of each calendar year but in no event after the later of January 30th of the year following the year for which the
Bonus is payable or ten business days after completion of Indaptus’s audited financial statements, the Board will meet and determine
in its reasonable discretion the extent to which the Performance Criteria have been achieved for such year and the amount of the Bonus.
Based on that determination, payment of the Bonus (if any) shall be made at the same time annual Bonuses are generally paid to other
senior executives of Indaptus (generally the first regular payroll date following the Board’s certification of the achievement
of applicable Performance Criteria) (the “Bonus Payment Date”). If the Executive is eligible to receive a Bonus, such
Bonus will not be deemed to be fully earned unless Executive is employed by the Company and in good standing on the last day of the fiscal
year to which the Bonus relates. The Bonus shall be paid to the Executive no later than March 15th of the year following the
year for which the bonus is payable.

 

	 	C.	Stock
    Option Grants.

 

During
the Term, subject to the terms of the Indaptus Therapeutics, Inc. 2021 Stock Incentive Plan (the “Stock Incentive Plan”)
or any successor equity compensation plan as may be in place from time to time and separate award agreements, the Executive shall be
eligible to receive from time to time stock options or other equity awards in amounts, if any, to be approved by the Board or the Compensation
Committee of Indaptus in its discretion. The Executive agrees that any equity grants awarded to him as compensation for services as Chief
Financial Officer shall be subject to any clawback policy that Indaptus established from time to time that is applicable to Indaptus’
executive officers.

 

	 	5.	BENEFITS.
    During his employment and subject to any contribution therefore generally required of employees of the Company, the Executive shall
    be entitled to participate in any and all employee benefit plans from time to time in effect for executive employees of the Company
    generally and as described in Appendix A. Such participation shall be subject to (i) the terms of the applicable plan documents,
    (ii) generally applicable policies of the Company and (iii) the discretion of the Board or any administrative or other committee
    provided for in or contemplated by such plan. The Company may alter, modify, add to or delete its employee benefit plans at any time
    as it, in its sole judgment, deems appropriate. During the term of his employment, the Executive shall be entitled to 20 paid days
    off (all of which may be carried over from one year to the next, provided, however that Executive will use at least 5 consecutive
    vacation days each year) as well as those paid public holidays provided for in the Company’s standard policies, as they may
    be amended from time to time. The 20 paid days off will be the Executive’s vacation days available to be used during regular
    business days (e.g. when normal business activity would occur).
	 	 	 
	 	6.	EXPENSES.
    The Executive shall be entitled to reimbursement by the Company for all necessary and reasonable travel, entertainment and other
    business expenses incurred by him in connection with his duties hereunder. The Company shall reimburse the Executive for all such
    expenses upon presentation of an itemized account and appropriate supporting documentation, all in accordance with the Company’s
    generally applicable policies as in effect from time to time.

 

    	3

     

    

 

	 	7.	CONFIDENTIALITY
    AND NONSOLICITATION.

 

	 	A.	Confidential
    Information. During the term of his employment, the Executive will have access to the Company’s confidential business information
    (the “Confidential Information”). The definition of Confidential Information includes any information regarding
    the Company or its affiliates that is not generally available to the public. By way of example not limitation, Confidential Information
    includes inventions, designs, data, computer code, works of authorship, know-how, trade secrets, formulas, compounds, indications,
    techniques, ideas, discoveries, products and services under development, employee, investor, customer and vendor information of any
    kind, marketing and business plans and financial information of any kind including pricing and profit margins.
	 	 	 
	 	B.	Ownership
    of Confidential Information. The Confidential Information (and all documents containing Confidential Information) is and will,
    as between the Executive and the Company, be the sole property of the Company.
	 	 	 
	 	C.	 
      Protection and Use of Confidential Information. The Executive shall preserve and protect the confidentiality and security
    of the Confidential Information. At all times during his employment by the Company and thereafter, the Executive will protect and
    not disclose to any third party any Confidential Information. The Executive shall not use the Confidential Information or make any
    use of, the Confidential Information, except (i) in connection with the performance of his duties for the Company or as otherwise
    required in connection with court process or requested by a governmental or regulatory body; (ii) as may be required by law (with
    advance notice to the Company prior to any such disclosure to the extent legally permitted); or (iii) to Executive’s personal
    legal advisors for the purposes of enforcing or interpreting this Agreement (or in the case of any other litigation between the Executive
    and the Company), or to a court or arbitrator for the purpose of enforcing or interpreting this Agreement (or in the case of any
    other litigation between the Executive and the Company), and who in each case have been informed as to the confidential nature of
    such Confidential Information and, as to advisors, their obligation to keep such Confidential Information confidential. “Confidential
    Information” will not include any information which is in the public or industry domain during the Executive’s employment,
    provided that such information is not in the public or industry domain as a consequence of any action or inaction by the Executive
    in violation of this Agreement.
	 	 	 
	 	D.	Return
    of Confidential Information. Upon request of the Company, the Executive will promptly (i) deliver to the Company all documents
    and other tangible media in the Executive’s possession or control that evidence, contain or reflect Confidential Information
    (including all copies, reproductions, digests, abstracts, analyses, and notes) and (ii) destroy any intangible materials that evidence,
    contain or reflect Confidential Information on equipment or media not owned by the Company, provided Executive may retain personal
    financial, insurance, identification and health records or documents and the contact information of the Executive’s personal
    contacts and any portion of the Executive’s personal correspondence to the extent such retained portion does not contain Confidential
    Information.
	 	 	 
	 	E.	Nonsolicitation
    of Employees and Certain Other Third Parties. At all times during the twelve (12) months period immediately following termination
    of employment, the Executive shall not, directly or indirectly, for himself or for any other person, firm, corporation, partnership,
    association or other entity (i) employ or attempt to employ or enter into any contractual arrangement with any employee performing
    services for the Company or any of its affiliates and/or (ii) persuade or encourage or attempt to persuade or encourage any persons
    or entities with whom the Company or any of its affiliates does business or has some business relationship to cease doing business
    or terminate its business relationship with the Company or any of its affiliates.

 

    	4

     

    

 

Notwithstanding
any provisions of this Agreement or otherwise, nothing contained in this Agreement limits the Executive’s ability to file a charge
or complaint with the Securities and Exchange Commission (“SEC”) or prevents the Executive from providing truthful testimony
in response to a lawfully issued subpoena or court order. Further, nothing in this Agreement shall (1) prohibit the Executive from making
reports of possible violations of federal law or regulation to the SEC, in accordance with the provisions of and rules promulgated under
Section 21F of the Securities Exchange Act of 1934, as amended, or Section 806 of the Sarbanes-Oxley Act of 2002, or of any other whistleblower
protection provisions of federal law or regulation, or (2) require notification or prior approval by the Company of any such report;
provided that the Executive is not authorized to disclose communications with counsel that were made for the purpose of receiving legal
advice or that contain legal advice or that are protected by the attorney work product or similar privilege. Further, this Agreement
does not limit the Executive’s ability to communicate with the SEC or otherwise participate in any investigation or proceeding
that may be conducted by the SEC, including providing documents or other information, without notice to the Company. This Agreement does
not limit the Executive’s right to seek an award pursuant to Section 21F of the Securities Exchange Act of 1934.

 

In
this Section 7, the term “Company” shall mean the Company and Indaptus, collectively.

 

	 	8.	ASSIGNMENT
    OF WORK PRODUCT.

 

	 	A.	Definitions.
    The following capitalized terms shall have the meanings assigned to them below:

 

“Intellectual
Property” means collectively all Work Product and all Intellectual Property Rights relating to all Work Product.

 

“Intellectual
Property Rights” means all copyrights, copyright registrations and copyright applications, trademarks, service marks, trade
dress, trade names, trademark registrations and trademark applications, patents and patent applications, trade secret rights, and all
other rights and interests existing, created or protectable under any intellectual property or other law of any nation.

 

“Work
Product” means any and all inventions, discoveries, original works of authorship, developments, improvements, formulas, compounds,
indications, techniques, concepts, data and ideas (whether or not patentable or registerable under patent, copyright, or similar statute)
made, conceived, prepared, created, discovered, or reduced to practice by the Executive, either alone or jointly with others during the
period of his employment, that (i) result from work performed by the Executive for the Company, (ii) are made by use of the Company’s
equipment, supplies, facilities or Confidential Information, or are made, conceived or completed, wholly or in part, within the scope
of the Executive’s services or duties to the Company, or (iii) are related to the business of the Company or the actual or demonstrably
anticipated business of the Company.

 

	 	B.	Property
    of the Company. All Intellectual Property is and will be the sole property of the Company.

 

    	5

     

    

 

	 	C.	 
      Copyrights; Assignment. The Executive agrees that all copyrightable materials that fall within the definition of Work Product,
    will be, to the maximum extent permitted by law, works-made-for-hire for the Company under copyright law, and to the extent not works-made-for-hire,
    the Executive hereby assigns to the Company, without royalty or further consideration to the Executive, all right, title, and interest
    he may have, or may acquire, in and to all Intellectual Property.
	 	 	 
	 	D.	Disclosure.
    The Executive will promptly disclose in writing all Work Product to the Company. The Executive agrees to keep adequate and current
    written records of all such Work Product, in the form of notes, sketches, drawings, electronic records and/or other reports, which
    records are, and will remain, the sole property of the Company and will be available to the Company at all times.
	 	 	 
	 	E.	Execution
    of Documents. Whenever requested by the Company, both during the period of the Executive’s employment and thereafter, the
    Executive will promptly sign and deliver to the Company any and all applications, assignments and other documents that the Company
    considers necessary or desirable in order to: (a) assign, apply for, obtain, and maintain any Intellectual Property Rights in the
    United States and for other countries relating to any Work Product, (b) assign and convey to the Company or its designee the sole
    and exclusive right, title, and interest in and to all Intellectual Property, (c) provide evidence regarding the Intellectual Property
    that the Company considers necessary or desirable, and (d) confirm the Company’s ownership of the Intellectual Property, all
    without royalty or any other further consideration to the Executive.
	 	 	 
	 	F.	Assistance
    to the Company. Whenever requested by the Company, both during the period of the Executive’s employment and thereafter,
    the Executive will, at the Company’s expense, assist the Company in assigning, obtaining, maintaining, defending, registering
    and from time to time enforcing, in any and all countries, the Company’s right to the Intellectual Property. This assistance
    may include, without limitation, testifying in a suit or other proceeding. If the Company requires assistance from the Executive
    after termination of his employment, the Executive will be compensated for time actually spent in providing assistance at an hourly
    rate equivalent to his compensation at the time his employment was terminated together with his reasonable, actual out-of-pocket
    expenses incurred in providing such assistance.
	 	 	 
	 	G.	Power
    of Attorney. For use in the case that the Company cannot obtain the Executive’s signature on any document that the Company
    considers necessary or desirable in order to assign, apply for, prosecute, obtain, or enforce any Intellectual Property, whether
    due to the Executive’s non-cooperation, unavailability, or any other reason, the Executive hereby irrevocably designates and
    appoints the Company and each of its duly authorized officers and agents as his agent and attorney-in-fact to act for, and on the
    Executive’s behalf, to execute and file any such document and to do all other lawfully permitted acts to further the assignment,
    transfer to the Company, application, registration, prosecution, issuance, and enforcement of all Intellectual Property, with the
    same force and effect as if executed and delivered by the Executive.

 

    	6

     

    

 

	 	H.	Prior
    Inventions. The Executive represents that any inventions, original works of authorship, discoveries, concepts or ideas, if any,
    to which the Executive presently has any right, title or interest, and which were previously conceived either wholly or in part by
    the Executive, and that the Executive desires to exclude from the operation of this Agreement are identified on Schedule A of this
    Agreement (each a “Prior Invention”). The Executive represents that the list contained in Schedule A is complete
    to the best of his knowledge and to the extent any such Prior Invention is not listed, it is agreed that Company has and is hereby
    granted a nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to make, have made, modify, display, perform sell
    and otherwise use such Prior Invention as part of or in connection with any Company product, process or service. If during the Executive’s
    retention with the Company, the Executive incorporates a Prior Invention into a Company product, process or service or its use, the
    Executive shall be deemed to have automatically granted to the Company a nonexclusive, royalty-free, irrevocable, perpetual, worldwide
    license to make, have made, modify, display, perform sell and otherwise use such Prior Invention as part of or in connection with
    any Company product, process or service.

 

In
this Section 8, the term “Company” shall mean the Company and Indaptus, collectively.

 

	 	9.	TERM;
    TERMINATION.

 

	 	A.	Term.
    Both the Company and the Executive shall have the right to terminate this Agreement and the Executive’s employment at any time
    subject to the notice provisions set forth below (the “Notice Period”). Any notice of termination shall be in
    writing, however, in the event the Executive fails to provide a written notice of resignation, despite the Company’s request
    for the same, the Company shall consider the Executive as having resigned upon the Executive having provided a clear and unequivocal
    notice. During the Notice Period, whether notice has been given by the Executive or by the Company, the Executive shall continue
    to exercise the Executive’s regular responsibilities and duties unless instructed otherwise by the Company, and shall cooperate
    with the Company and use the Executive’s best efforts to assist the integration into the Company organization of the person
    or persons who will assume the Executive’s responsibilities and duties.
	 	 	 
	 	B.	Death.
    Upon the death of the Executive, the Executive’s employment with the Company shall terminate.
	 	 	 
	 	C.	Termination
    by the Executive. The Executive may terminate this Agreement and his employment hereunder (i) without Good Reason (as defined
    below) upon thirty 1 (one) month written notice to the Executive or (ii) immediately for Good Reason.
	 	 	 
	 	D.	Termination
    by Company. The Company may terminate this Agreement and the Executive’s employment hereunder (i) without Cause (as defined
    below) upon thirty 1 (one) month written notice to the Executive or (ii) immediately for Cause.
	 	 	 
	 	E.	Certain
    Definitions. The following capitalized terms shall have the meanings assigned to them below:

 

“Cause”
means: (i) the Executive’s chronic failure to perform those material duties assigned to him pursuant to Section 2 above after written
notice thereof and a reasonable opportunity to respond and/or cure of not less than 30 days; (ii) the Executive’s material and
repeated gross negligence or willful misconduct (including but not limited to acts of fraud or theft or the violation of applicable laws)
in connection with the performance of his duties after written notice thereof and a reasonable opportunity to respond and/or cure of
not less than 30 days; (iii) the Executive’s material breach of Section 7 or 8 above after written notice thereof and a reasonable
opportunity to respond and/or cure of not less than 30 days; (iv) the Executive’s conviction of, or entry of a plea of guilty or
nolo contendere to a felony or any other crime that involves fraud, dishonesty, or serious moral turpitude under the laws of the
United States or any state thereof; or (v) the Executive’s alcohol abuse or use of controlled substances (other than prescription
drugs taken in accordance with a physician’s prescription), in each case, to the extent such activities under this clause (v) materially
interfere with Executive’s duties.

 

    	7

     

    

 

“Good
Reason” means the voluntary termination by the Executive within thirty (30) days following: (i) a requirement imposed on or
after a Change in Control that the Executive physically relocates to another office that is more than 30 miles from the office location
that the Executive reported to at the commencement of his employment with the Company; (ii) a reduction in the Executive’s Salary
or Target Bonus in violation of this Agreement; (iii) a material adverse change in the Executive’s title or job description or
a significant reduction of the scope of the Executive’s authority or responsibilities as Chief Financial Officer, or (iv) or any
other material breach of this Agreement by the Company, provided that no act or omission in (i) through (iv) of this definition shall
constitute Good Reason unless (x) Executive provides the Company with written notice within ninety (90) days after Executive first become
aware of, or reasonably should have become aware of, the occurrence or existence of such event or circumstance, which notice identifies
the event or circumstance that Executive believes constitutes Good Reason, (y) the Company fails to cure such act or omission within
thirty (30) days after delivery of such notice to the Company and (z) Executive terminates Executive’s employment with the Company
within thirty (30) days after the expiration of the cure period referred to in the preceding clause (y).

 

	 	10.	EFFECT
    OF TERMINATION

 

	 	A.	Payments
    Upon Termination. In the event that the Executive’s employment with the Company is terminated for any reason, the Executive
    shall have the right to receive (i) the compensation and reimbursable expenses then accrued and/or earned and unpaid under Sections
    4 and 5 of this Agreement through the date of termination (including, if the Executive is entitled to a Bonus for the year immediately
    preceding the year of such termination but for not being employed on the Bonus Payment Date, the Company shall pay the Bonus based
    on achievement of pre-determined performance goals on the same basis as other participants in the plan who are employed on the Bonus
    Payment Date), and (ii) payment for unused vacation days accrued through the date of termination. In addition, in the event that
    the Executive’s employment with the Company is terminated due to Executive’s death (as described in Section 9(B) above)
    or disability, if the Executive is entitled to a Bonus for the year of termination based on achievement of pre-determined performance
    goals (and ignoring any continuation of employment requirements), the Company shall pay such Bonus on the same basis as other participants
    in the plan except that the Bonus amount shall be prorated (based on the percentage of days the Executive was employed relative to
    the total number of days in the bonus earning period).
	 	 	 
	 	B.	Additional
    Payments. (a) Subject to Sections 10 D and 10 E, in the event that the Executive’s employment with the Company is terminated
    by the Company without Cause or by the Executive for Good Reason during the term of this Agreement other than during the Change in
    Control Period (as defined below), (A) the Company shall (i) continue to pay the Executive his Base Salary for twelve (12) months
    (less applicable withholdings and authorized deductions) in accordance with the Company’s customary payroll practices, and
    (B) if the Executive is entitled to a Bonus for the year of termination based on achievement of pre-determined performance goals
    (and ignoring any continuation of employment requirements), the Company shall pay such Bonus on the same basis as other participants
    in the plan except that the Bonus amount shall be prorated (based on the percentage of days the Executive was employed relative to
    the total number of days in the bonus earning period).

 

    	8

     

    

 

	 	C.	Subject
    to Sections 10 D and 10 E, in the event that the Executive’s employment is terminated by the Company without Cause or by the
    Executive for Good Reason during the term of this Agreement and within 6 months immediately preceding and 12 months immediately following
    a Change in Control (as defined below) (the “Change in Control Period”), then in lieu of the payments set forth
    in subsection 10 B above, the Company shall (i) pay to the Executive the sum of his Base Salary and Target Bonus over twelve (12)
    months in substantially equal installments (less applicable withholdings and authorized deductions)in accordance with the Company’s
    customary payroll practices, (ii) pay the current year Bonus at the Target Bonus level on a prorated basis (using the percentage
    of days the Executive was employed relative to the total number of days in the bonus earning period), which payment shall be made
    within 30 days of termination, and (iii) fully accelerate vesting of all of the Executive’s outstanding stock options, restricted
    stock and other equity incentive awards upon the later of (x) the Change in Control or (y) the Executive’s termination of employment
    with the Company. For the avoidance of doubt, any equity incentive awards with performance vesting conditions shall be deemed achieved
    at the greater of target performance or the actual or projected actual level of Company performance on the applicable performance
    measures as determined in the Board’s sole discretion.

 

As
used in this Agreement, “Change in Control” means (x) a change in ownership of Indaptus under clause (i) below or
(y) a change in the ownership of a substantial portion of the assets of Indaptus under clause (ii) below:

 

	 	i.	 
      Change in the Ownership of Indaptus. A change in the ownership of Indaptus shall occur on the date that any one person, or
    more than one person acting as a group (as defined in clause (iii) below), acquires ownership of capital stock of Indaptus that,
    together with capital stock held by such person or group, constitutes more than 50 percent of the total fair market value or total
    voting power of the capital stock of Indaptus. However, if any one person or more than one person acting as a group, is considered
    to own more than 50 percent of the total fair market value or total voting power of the capital stock of Indaptus, the acquisition
    of additional capital stock by the same person or persons shall not be considered to be a change in the ownership of Indaptus. An
    increase in the percentage of capital stock owned by any one person, or persons acting as a group, as a result of a transaction in
    which Indaptus acquires capital stock in Indaptus in exchange for property will be treated as an acquisition of stock for purposes
    of this paragraph.
	 	 	 
	 	ii.	Change
    in the Ownership of a Substantial Portion of Indaptus’ Assets. A change in the ownership of a substantial portion
    of the Indaptus’ assets shall occur on the date that any one person, or more than one person acting as a group (as defined
    in clause (iii) below), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by
    such person or persons) assets from Indaptus that have a total gross fair market value equal to or more than 80 percent of the total
    gross fair market value of all of the assets of Indaptus immediately prior to such acquisition or acquisitions. For this purpose,
    gross fair market value means the value of the assets of Indaptus, or the value of the assets being disposed of, determined without
    regard to any liabilities associated with such assets. There is no Change in Control under this clause (ii) when there is a transfer
    to an entity that is controlled by the shareholders of Indaptus immediately after the transfer, as provided below in this clause
    (ii). A transfer of assets by Indaptus is not treated as a change in the ownership of such assets if the assets are transferred to
    (a) a shareholder of Indaptus (immediately before the asset transfer) in exchange for or with respect to its capital stock, (b) an
    entity, 50 percent or more of the total value or voting power of which is owned, directly or indirectly, by Indaptus, (c) a person,
    or more than one person acting as a group, that owns, directly or indirectly, 50 percent or more of the total value or voting power
    of all the outstanding capital stock of Indaptus, or (d) an entity, at least 50 percent of the total value or voting power of which
    is owned, directly or indirectly, by a person described in clause (ii)(c) of this paragraph. For purposes of this clause (ii), a
    person’s status is determined immediately after the transfer of the assets.

 

    	9

     

    

 

	 	iii.	Persons
    Acting as a Group. For purposes of clauses (i) and (ii) above, persons will not be considered to be acting as a group solely
    because they purchase or own capital stock or purchase assets of Indaptus at the same time. However, persons will be considered to
    be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of assets
    or capital stock, or similar business transaction with Indaptus. If a person, including an entity, owns stock in both corporations
    that enter into a merger, consolidation, purchase or acquisition of assets or capital stock, or similar transaction, such shareholder
    is considered to be acting as a group with other shareholders in a corporation only with respect to the ownership in that corporation
    before the transaction giving rise to the change and not with respect to the ownership interest in the other corporation. For purposes
    of this paragraph, the term “corporation” shall have the meaning assigned such term under Treasury Regulation section
    1.280G-1, Q&A-45.

 

	 	D.	Release
    Agreement. In order to receive the payments and benefits set forth in Sections 10(B) or (C), as applicable (collectively referred
    to herein as the “Severance Payments”), the Executive must timely execute (and not revoke) a separation agreement
    and general release (the “Release Agreement”) in a customary form as is determined to be reasonably necessary
    by the Company in its good faith and reasonable discretion. If the Executive is eligible for Severance Payments pursuant to Section
    10, the Company will deliver the Release Agreement to the Executive (which Release Agreement will not contain any new restrictive
    covenants (i.e., it may restate covenants contained herein, but will not include additional covenants) within seven (7) calendar
    days following the date of termination of employment. The Severance Payments are subject to the Executive’s execution and delivery
    of such Release Agreement and such Release Agreement becoming irrevocable within thirty (30) days following the date of termination
    of employment (such 30-day period, the “Release Period”). If the Release Period spans two calendar years, Severance
    Payments shall not commence earlier than January 1st of the second calendar year (with the first payment containing all
    amounts which should have been paid, but were not paid, prior to such date).
	 	 	 
	 	E.	Post-Termination
    Breach. Notwithstanding anything to the contrary contained in this Agreement, the Company’s obligation to provide the Severance
    Payments will immediately cease if the Executive breaches any of the provisions of Sections 7 or 8, the Release Agreement or any
    other Agreement the Executive has with the Company.

 

	 	11.	COMPANY
    COMPUTERS; CELLULAR PHONE; PRIVACY

 

	 	A.	For
    the performance of the Executive’s duties, the Company may allow the Executive to use the Company’s computer equipment
    and systems, including any desktop computer, laptop, software, hardware, Internet server and professional e-mail account (the “Computers”).
    The Executive acknowledges and agrees that the Company may allow others to use the Computers.
	 	 	 
	 	B.	Subject
    to the Company’s policies as may be in effect from time to time, the Executive: (i) shall not store personal files on the Computers
    (except on folders clearly labeled by the Executive as “Personal”); and (ii) the Executive may not store the Company’s
    files on personal or external storage space.

 

    	10

     

    

 

	 	C.	The
    e-mail account assigned to the Executive is strictly a professional one and shall be strictly used for professional matters. For
    personal matters the Executive may use external email services (such as Gmail).
	 	 	 
	 	D.	The
    Executive acknowledges and agrees that in order to maintain the security of the Computers and to protect the Company’s legitimate
    interests, the Company shall have the right to monitor, inspect and review the Executive’s activity on the Computers, including
    usage habits and content transmission and distribution through all kinds of the Company’s internal media platforms (including
    professional WhatsApp groups [such as groups opened by the employees themselves for the purposes of professional discussions], Slack,
    HiBob, intranet, the Company website, etc.), and to collect, copy, transfer and examine any and all of the foregoing content stored
    on the Computers or transmitted or distributed through the Company’s internal media platforms, including emails, text messages,
    posts, electronic communications, documents and other files, and all findings of which shall be admissible as evidence in any legal
    proceedings. In light of the Executive’s understanding of the above, the Executive shall have no right to privacy in any content
    of the Computers, except with respect to folders which contain private information and which are clearly labeled by the Executive
    as “Personal”.
	 	 	 
	 	E.	Sections
    11B through 11D above shall apply also with respect to any cellular phone provided by the Company to the Executive (if provided)
    as well as to the Executive’s personal cellular phone when used for the purpose of performing the Executive’s work to
    the extent pertains to unique professional apps, to professional WhatsApp groups or other professional media (including the internal
    media platforms referred to above) or messaging groups, and to a connection to the Executive’s professional e-mail account.
	 	 	 
	 	F.	Executive
    acknowledges and agrees that during the course of the Executive’s employment by the Company, the Company shall collect, receive
    and make use of certain personal information related to the Executive and the Executive’s terms of employment at the Company
    (such as Executive’s contact details, family status, salary, bank account-related information, etc.), as shall be received
    and held by the Company (the “Information”). Collecting, receiving, using and processing the Information shall
    be at the minimum extent required to manage the Company’s employees or to meet the Company’s legal obligations. Such
    Information may be transferred to third parties service providers, to affiliates of the Company, including those located abroad,
    for the aforesaid purposes or to a third party in the course of a potential transaction (such as acquisition, merger or sale of asset)
    subject to: (a) that such transfer shall be made only in order for the Company to comply with any relevant legal requirements or
    due to business purposes of the Company; (b) that the transferred Information shall be limited to the reasonable and necessary scope;
    and (c) that the receiver of the Information shall undertake, to the extent possible, to preserve the privacy of the Information,
    at least at the level of privacy kept by the Company itself regarding the Information.

 

	 	12.	NO
    OTHER PAYMENTS OR BENEFITS. The Executive acknowledges and agrees that upon the termination of his employment, then other than any
    payment due to him under this Agreement or applicable law, no other benefits, compensation or remuneration of any kind is owed by
    the Company to the Executive other than as set forth in this Section 10.
	 	 	 
	 	13.	SURVIVAL.
    Notwithstanding anything to the contrary set forth herein, Sections 7, 8, 9, 10 and 11 of this Agreement and any remedies for the
    breach thereof, shall survive the termination of this Agreement under the terms hereof. Termination of this Agreement shall not relieve
    or release either party from any rights, liabilities or obligations which it/he has accrued prior the effective date of such termination.

 

    	11

     

    

 

	 	14.	RETURN
    OF COMPANY PROPERTY; EXIT INTERVIEW. Upon termination of the Executive’s employment with the Company for any reason, the Executive
    will promptly:

 

Deliver
to the Company all documents and other tangible media in the Executive’s possession or control that evidence, contain or reflect
(A) Confidential Information or (B) Work Product, in each case whether prepared by the Executive or otherwise coming into the Executive’s
possession or control;

 

Destroy
any intangible materials that evidence, contain or reflect Confidential Information or Work Product on equipment or media not owned by
the Company; and

 

Return
to the Company all equipment, files, software programs and other personal property belonging to the Company.

 

Upon
termination of the Executive’s employment with the Company for any reason, the Executive will attend an exit interview with a representative
of the Company to review the Executive’s continuing obligations under this Agreement.

 

Notwithstanding
the foregoing, Executive may retain personal financial, insurance, identification and health records or documents and the contact information
of his personal contacts and any portion of his personal correspondence to the extent such retained portion does not contain Confidential
Information.

 

	 	15.	ENTIRE
    AGREEMENT. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes
    all contemporaneous and prior agreements and understandings between the Company, its predecessors and any subsidiary, as to such
    subject matter, including but not limited to the Prior Agreement. For the avoidance of doubt, the Prior Agreement shall be of no
    further force or effect. Except as otherwise expressly provided herein, this Agreement may not be amended except by an instrument
    in writing executed by the Company and the Executive.
	 	 	 
	 	16.	ASSIGNMENT.
    The Executive shall not be permitted to assign this Agreement or any rights or obligations hereunder without the prior written consent
    of the Company.
	 	 	 
	 	17.	GOVERNING
    LAW; JURISDICTION. This Agreement shall be construed and enforced in accordance with and governed by the laws of the State of Israel.
    .
	 	 	 
	 	18.	MISCELLANEOUS.
    No waiver by either party of any term or condition of this Agreement, whether by conduct or otherwise, in any one or more instance,
    shall be deemed a continuing waiver of any such term or condition, or a waiver of any other term or condition of this Agreement.
    Headings set forth in this Agreement are solely for the convenience of the parties and have no legal effect. If any provision of
    this Agreement shall be found to be invalid by any court having competent jurisdiction, the invalidity of such provision shall not
    affect the validity of the remaining provisions hereof. This Agreement shall be (i) binding upon, and will inure to the benefit of,
    the parties and their permitted respective successors and assigns, (ii) construed without presumption of any rule requiring construction
    to be made against the party causing it to be drafted and (iii) executed in any number of counterparts, each of which will for all
    purposes be deemed to be an original, and all of which are identical.
	 	 	 
	 	19.	TAX.
    All payments and benefits according to this Agreement are gross payments. The Executive shall bear taxes and other compulsory payments
    in accordance with applicable law, which amounts shall be deducted by the Company from the Salary, as required by law.

 

    	12

     

    

 

IN
WITNESS WHEREOF, the undersigned have executed this Agreement on this 1 day of February 2022.

 

	INTEC
    PHARMA LTD.	 
	 	 	 
	By:	/s/
    Jeffrey A. Meckler	 
	Title:	Chief
    Executive Officer	 
	 	 	 
	By:	/s/
    Nir Sassi	 
	 	 	 
	Address:	[***]	 
	 	 	 

 

    	13

     

    

 

Schedule
A

 

	Prior
    Inventions	 
	 	 
	LIST
    IF ANY	 
	 	 
	 	 

 

    	14

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