Document:

Exhibit 10.18

 

FINAL VERSION

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

DATA TRANSFER AND REVENUE SHARING AGREEMENT

 

This
DATA TRANSFER and revenue sharing Agreement (the “Agreement”)
is made as of September 24, 2019, by and among Nuvo Group Ltd., a company incorporated under the laws of the State of Israel, with offices
at 94 Yigal Alon Street, Alon Tower 1, Tel-Aviv 6789155 Israel (the “Company”)
and Hadasit Medical Research Services & Development, Ltd. (“Hadasit”), with offices at Jerusalem Bio Park,
Hadassah Ein-Kerem Medical Center, P.O.B. 12000, Jerusalem 9112001, Israel (“Hadasit”).
Each of the Company and Hadasit shall be sometimes referred to as a “Party” and collectively as the “Parties”.

 

		Whereas,	the Company is engaged in the development of
fetal monitoring solutions and is interested in access to certain data collected at Hadassah Medical Organization (“HMO”)
according to the terms and conditions of this Agreement; and 

 

		WHEREAS:	Hadasit is the wholly-owned subsidiary of HMO and serves
as its commercial arm; and

 

		WHEREAS:	Hadasit is fully authorized by the HMO to enter into this
Agreement.

 

NOW, THEREFORE, in consideration of the
premises, the mutual covenants and agreements herein contained, and intending to be legally bound, the Parties hereby agree as follows:

 

		1.	Definitions. 

 

Terms capitalized
herein and not elsewhere defined in this Agreement shall have the meanings set forth below.

 

		1.1.	“Access Fee” shall bear the meaning ascribed to such term in Section 9.2 below.

 

		1.2.	“Access Rights” shall have the meaning ascribed thereto in Section 5.1 below.

 

		1.3.	“Affiliate” means, with respect to any Person, any other Person which directly or indirectly
Controls, is Controlled by or is under common Control with such Person.

 

		1.4.	“Algorithms” means software
algorithms developed by or for the Company and/or its Affiliates based on the Qualified Data received from HMO and/or Hadasit hereunder,
and which are used for artificial intelligence purposes.

 

		1.5.	“Applicable Law” means the Ministry Guidelines, Israeli Patient’s Rights Law,
1996, the Israeli Protection of Privacy Law, 1981 and any other applicable laws, regulations or guidelines, including those governing
the confidentiality and privacy of individually identifiable personal and health information, including, without limitation, the guidelines
of and terms of the approval issued by HMO’s Helsinki Committee for the Access Rights granted hereunder, as may be amended, updated,
varied, supplemented or superseded from time to time.

 

		1.6.	“Calendar Quarter” means each of the periods of three (3) consecutive calendar months
ending on March 31, June 30, September 30 and December 31, for so long as this Agreement is in effect.

 

		1.7.	“Company Background IP” means any intellectual property rights owned by or licensed
to Company prior to the date of this Agreement and/or developed independently hereof.

 

     

     

    

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		1.8.	“Company Inventions” means any Know-How, whether patentable or not, whether relating
to the Products or otherwise, which is conceived or reduced to practice:

 

		a)	by or on behalf of the Company and/or its Affiliates; and

 

		b)	[***].

 

For
the avoidance of doubt, the display of data or information in a certain
form or order shall not be considered a Company Invention.

 

		1.9.	“Company Patents” means any patents or patent applications claiming Company Inventions.

 

		1.10.	“Control” means the possession, directly or indirectly, of the power to direct or cause
the direction of the management and policies of a Person, whether through the ownership of voting securities or otherwise. Without limiting
the foregoing, Control will be presumed to exist when a person, organization or entity (a) owns or directly controls 50% (fifty percent)
or more of the outstanding voting securities, capital stock or other comparable equity or ownership interest of the other organization
or entity or (b) possesses, directly or indirectly, the power to elect or appoint 50% (fifty percent) or more of the members of the governing
body of the other organization or entity.

 

		1.11.	“Data” means maternal, fetal and/or neonatal records including cardiotocography (CTG)
recordings and other pre-delivery and post-delivery data.

 

		1.12.	“Data Sharing Period” means the period commencing January 1, 2019 and ending December
31, 2021, unless extended pursuant to Section 2.8.

 

		1.13.	“Derivative” means any revision, error correction, enhancement or modification of an
Algorithm or any part thereof; any porting to, or application in any software program or software environment; or any other activities
in respect of an Algorithm in which an Algorithm may be transformed, adapted and/or reduced to practice with or through any technology
or technological system now known or later developed.

 

		1.14.	“Effective Date” means the later of (a) the date upon which HMO receives approval from
its Helsinki Committee to grant the Access Rights to the Company, or (b) the date of signature of this Agreement.

 

		1.15.	“First Commercial Sale” means, the date of the first sale for end use of a Product
by Company or an Affiliate of Company, following receipt of Regulatory Approval in the country in which such Product is Sold.

 

		1.16.	“Hadasit Personnel” means any employee, student, consultant, contractor or other researcher
of HMO, or Hadasit (including without limitation, part-time employment, Sabbaticals and leave of absence, and Professor Emeritus status),
during the term of their employment and during a period of [***] thereafter, whether such work is undertaken as an independent contractor
or as an employee of the Company), who may become involved in the development or research activities of the Company or its Affiliate and
does not solely provide services to the Company (such as laboratory services, labeling, technicians etc.) under a separate agreement with
Hadasit providing ownership of the results of such services to the Company or its Affiliate, as applicable.

 

		1.17.	“Initial Data” shall have the meaning ascribed thereto in Section ‎2.5
below.

 

		1.18.	“IT Costs” shall have the meaning ascribed thereto in Section ‎2.9
below.

 

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CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		1.19.	“Know-How” means any confidentially maintained proprietary tangible and intangible:
methods, inventions, techniques, processes, specifications, materials, recipes, formulae, preparations, designs, plans, drawings, data,
trade secrets, software, algorithms, devices, products, materials, compounds, compositions, substances, findings or other technical or
scientific information, and any intellectual property rights covering the foregoing.

 

		1.20.	“Liquidation Event”
means the insolvency of the Company, or the commencement by or against the Company of any case or proceeding under any bankruptcy,
reorganization, insolvency or moratorium law, or any other law or laws for the relief of debtors, or the appointment of any receiver,
trustee or assignee (interim or permanent) to take possession of the properties of the Company, if the Company makes arrangements with
or for the benefit of its creditors or similar arrangements, or the liquidation or dissolution of the Company.

 

		1.21.	“Ministry Guidelines” shall mean the MOH Guidelines titled “Collaborations
based on Secondary Use of Health Information" issued January 17th, 2018, including all exhibits thereto as may
be amended from time to time or superseded by successor laws, rules, regulations or guidelines.

 

		1.22.	“Person” means any individual, corporation, partnership, joint venture, limited liability
company, association, joint-stock company, trust, unincorporated organization or any other entity or organization.

 

		1.23.	“Products” means any existing or new product, kit, process or service that is developed
with the use of or incorporates the Algorithms and/or any Derivatives or any sub-set of either of the foregoing. [***].

 

		1.24.	“Qualified Data” shall have the meaning ascribed thereto in Section 2.3 below.

 

		1.25.	“Regulatory Approval” means all approvals from the relevant Regulatory Authority necessary
to Sell a Product (including the rendering and sale of any service included within the definition of Products) in a country.

 

		1.26.	“Regulatory Authority” means any applicable government regulatory authority having
jurisdiction over the granting of approvals for the manufacturing and/or Sale of a Product, including, in the United States, the FDA.

 

		1.27.	“Researcher” means [***].

 

		1.28.	“Revenue Sharing Period” means the period starting on January 1, 2019 and ending 7
(seven) years after the First Commercial Sale. If, however, the Company exercises its option(s) to receive Access Rights to new Qualified
Data pursuant to Section 2.7 below, the Revenue Sharing Period shall be automatically extended by one (1) year in respect to each year
as to which such option is exercised.

 

		1.29.	“Revenues” means the total revenues of any nature invoiced by the Company and/or its
Affiliates (in each case, the “Invoicing Entity”) by reason of Sales less the following to the extent applicable with
respect to such Sales and not previously deducted from the gross invoice price: [***]. If a Product is bundled together with another standalone
product commercialized by the Company and/or its Affiliates or in collaboration with a third party (“Bundled Product”),
then the Parties shall negotiate in good faith to determine what portion of the Revenues should be attributed to the Product, provided
that such portion shall not be less than (a) the sales price of the Algorithms and Derivatives in a bona-fide arms-length transaction
to an unrelated third party; or (b) if the Algorithms and Derivatives are not sold separately, the portion of the Bundled Product that
is attributable to the Algorithms and Derivatives. In the event of any dispute, the provisions of Section 15.3 shall apply.

 

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CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		1.30.	“Sales” or “Sold” means the license or sale of, or the provision
of services with, a Product.

 

		1.31.	“Start Date” shall have the meaning ascribed thereto in Section ‎2.5.1
below.

 

		2.	Background; Basic Understandings.

 

		2.1.	HMO has started recording the Data in early 2018, which is collected as more fully described in Annex
A attached hereto.

 

		2.2.	Pursuant to this Agreement, Hadasit shall cause HMO to feed the Data into a designated secured server
at HMO (the “Designated Server”) for onwards transfer to the Company’s designated server (the “Company’s
Server”) in the form of Qualified Data, as provided below. Hadasit will [***] cooperate, [***], with Maccabi Healthcare Services
or any third party agreeable to Hadasit [***] to provide additional data which shall be fed into the Designated Server [***]. [***].

 

		2.3.	Hadasit shall use [***] efforts to operate and maintain the Designated Server so that the resulting Data
transferred to the Company Server hereunder shall be anonymous as per the standard for anonymization set out in Section 2.4 below (the
“Qualified Data”).

 

		2.4.	Hadasit will use reasonable commercial efforts not to provide the Company with any Data that contains
any information which readily identifies a patient, can be used to identify a patient using reasonable measures or pursuant to which a
patient may be traced (“Personally Identifying Information”).
Notwithstanding, each Party undertakes that should it find that any of the Data transferred to Company hereunder contains Personally Identifying
Information, it shall promptly notify the other Party in writing and Company shall immediately take all measures to irrevocably and irretrievably
destroy such Personally Identifying Information. The Company shall not be responsible for any third party claims directly arising from
any transfer of Personally Identifying Information by Hadasit to Company in breach of Applicable Law or otherwise due to the negligence
or willful misconduct of Hadasit, unless and to the extent arising from the breach of this Agreement, negligence, reckless or willful
misconduct of the Company and/or its Affiliates and/or their respective officers, directors, employees, agents, service providers, collaborators
and/or any third party acting on behalf of any of the foregoing. 

 

		2.5.	It is agreed that, subject to payment of the IT Costs, Hadasit will first provide, within [***] of the
Effective Date, an initial set of Qualified Data for sampling purposes, which shall be no less than [***] and not exceed [***] datasets
(the “Initial Data”). Company shall review such Initial Data and notify Hadasit in writing (such decision to be at
Company’s sole discretion) either that it wishes:

 

		2.5.1.	to proceed with the activities set out in this Agreement, in which case:

 

		a)	the provisions of this Agreement shall continue to apply; and

 

		b)	Company shall notify Hadasit (upon no less than [***] written notice) of the requested commencement date
(such date, the "Start Date"). The Start Date will be no later than March 31, 2020, without Hadasit's prior written consent;
or

 

		2.5.2.	to terminate this Agreement with immediate effect, in which case the provisions of Section 13 shall apply
and, for clarity:

 

		a)	Hadasit shall not be required to provide any more Qualified Data;

 

		b)	Company shall be prohibited from using the Qualified Data; and

 

		c)	Company shall not be subject to any additional payment obligations.

 

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CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		2.6.	Hadasit will provide the rest of the Qualified Data collected in 2018 and 2019 (or the relevant part thereof
if the Start Date commences before the end of 2019) to Company as soon as reasonably practicable, acting in good faith, and shall use
reasonable commercial efforts to transfer such Qualified Data to the Company within [***] of the Start Date, subject to receipt of the
first installment of the Access Fee. Thereafter, unless this Agreement is terminated pursuant to Section 12 and subject to fulfillment
of Company’s payment obligations hereunder, Hadasit will transfer the Qualified Data collected in each calendar year during the
Data Sharing Period to the Company, using [***] efforts to do so during the first Calendar Quarter of the subsequent year. If the Start
Date commences during 2019, Hadasit shall use [***] efforts to transfer the remainder of the Qualified Data from 2019 during the first
Calendar Quarter of 2020.

 

		2.7.	The Company is not permitted to allow access or to transfer the Qualified Data to any third party other
than its Affiliates and/or consultants or contractors on a need-to-know basis for the purposes of or as envisaged under this Agreement,
without Hadasit’s prior written consent, subject to Section 11.2 below. Any such recipient or transferee (each, a “Permitted
Recipient”) shall first undertake in writing to comply with the Company’s undertakings in relation to the Qualified Data,
under this Agreement and a copy of such undertaking shall promptly be provided to Hadasit upon Hadasit’s request. Prior to transferring
or allowing access to any Qualified Data to a Permitted Recipient (other than the employees of the Company as permitted in Section 11.2),
Company shall provide Hadasit with prior written notice of such transfer or access, as appropriate.

 

		2.8.	Provided that the Company is at all times in compliance with its obligations pursuant to this Agreement,
the Company shall have the option, to expand the volume of the Data by new Data, by written notice(s) to Hadasit, for up to [***] extension
periods, provided that such notice is received by Hadasit at least [***] prior to the expiration of the current Data Sharing Period. Immediately
upon such extension going into force and effect, Hadasit shall cause HMO to feed all Data compiled during the preceding calendar year
into the Designated Server, for further transfer to the Company Server, and all of the provisions of this Agreement shall continue to
apply throughout the Revenue Sharing Period, as may be so extended.

 

		2.9.	The Company will compensate Hadasit for the initial
set-up expenses caused to it in order to facilitate the collaboration envisaged hereunder, the Company shall pay Hadasit non-refundable
payments of (a) [***]; and (b) Hadasit’s out-of-pocket costs of
Data pulling via an external IT service provider (currently estimated at approximately [***],
and which may be increased subject to Company's written consent) (“External IT Service Costs”), within [***]
of the execution of this Agreement (collectively, the “IT Costs”).
The External IT Service Costs shall be deducted from the first instalment of the Access Fee set forth in Section 9.2 below. In the event
of extensions of the Revenue Sharing Period pursuant to the preceding Section 2.8, the Company shall cover all [***] expenses
incurred by Hadasit in feeding new Data into the Designated Server and transfer to the Company Server, provided such costs are pre-approved
by the Company in writing. For clarity, such costs shall only relate to the additional expense due to the extensions of the Revenue Sharing
Period pursuant to Section 2.8, including, no more than [***] times during
the [***] extensions, paying for any IT changes at Hadasit or HMO requiring
rewriting of code that extracts the Qualified Data during such time, and shall
not relate to costs incurred for any other reason by Hadasit or HMO.

 

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CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		3.	Use of Qualified Data; No Re-Identification.

 

		3.1.	The Company undertakes that:

 

		3.1.1.	it shall access and use the Qualified Data only as permitted under this Agreement and as specifically
authorized by the approval of the Helsinki Committee and in accordance with Applicable Law;

 

		3.1.2.	it shall allow access to and use of the Qualified Data by Permitted Recipients solely for the purpose
of performing research, developing and/or commercializing the Product and for
no other purpose whatsoever; 

 

		3.1.3.	it shall comply with any and all reasonable requests or instructions it shall receive from Hadasit, provided
that such requests or instructions derive from Applicable Law, in connection with
the anonymity of and/or access to the Qualified Data and the use thereof; 

 

		3.1.4.	it shall not, and shall not allow a Permitted
Recipient or any third party, take any action which may result in (i) the re-identification of any patient or individual reflected in
the Data; (ii) the de-anonymization of any of the Qualified Data or any aspect thereof; (iii) the re-introduction of any identifying features
into or with respect to any of the Qualified Data; or (iv) linking any facial or indirect identifiers to any other information;

 

		3.1.5.	neither it nor any Permitted Recipient shall engage in any research, study or any other use of the Qualified
Data that directly or indirectly involves developing a plan or actually attempting to reidentify an individual;

 

		3.1.6.	neither it nor any Permitted Recipient shall use the information in the Qualified Data to contact any
individual patient or individual;

 

		3.1.7.	it will implement reasonable technical and organizational security measures to protect the Qualified Data
from accidental or unlawful destruction, loss, alteration, unauthorized disclosure of, or access to, Qualified Data transmitted, stored
or otherwise processed by the Company and/or its Permitted Recipients, consistent with the requirements of Applicable Law and the Ministry
Guidelines; and

 

		3.1.8.	it will promptly inform Hadasit, within [***] after obtaining knowledge of any security breach or potential
breach it becomes aware of regarding the Qualified Data or Data. The Company will use its best efforts to mitigate the breach and prevent
its reoccurrence.

 

		3.2.	For the avoidance of doubt, the Company shall be responsible for the actions or omissions of its Permitted
Recipients, or other third parties to whom it disclosed or provided access to the Qualified Data in relation to the use of the Qualified
Data pursuant to this Agreement.

 

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CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		4.	Proprietary Rights.

 

		4.1.	All title and ownership rights in and to (i) the Products, any specifications thereof and any Know-How
relating thereto; (ii) the Company Inventions; and (iii) the Company Patents shall be the sole and exclusive property of the Company.

 

		4.2.	Subject only to the Access Rights, all title and ownership rights in and to any and all Data and Qualified
Data provided to the Company hereunder from time to time in all forms and media, including derivative work, databases, reports, calculations
based thereon (excluding the Products) and any intellectual property rights and title in and to any of the foregoing shall vest exclusively
in Hadasit.

 

		4.3.	Except as expressly provided in this Agreement, nothing in this Agreement shall be construed to confer
any ownership interest, license or other rights upon either Party by implication, estoppel or otherwise as to any technology, intellectual
property rights, products or biological materials of the other Party, or any other entity. For clarity, Company shall retain ownership
of Company Background IP.

 

		4.4.	Without prejudice to the generality of the preceding sentence, in the event that the development, production,
marketing, distribution or Sale of Products require certain licenses to be granted by third parties, the Company shall be solely responsible
to obtain such licenses at its own expense.

 

		5.	Access Rights.

 

		5.1.	Subject to the terms and conditions set forth in this Agreement and as of the Start Date, Hadasit shall
grant the Company with personal, non-transferable (except pursuant to Section 15.5 below), non-exclusive, non-sublicenseable, access and
use right to the Qualified Data for the sole purpose of performing research, developing and/or commercializing Products (the “Access
Rights”).

 

		5.2.	In case of any act or omission by a Permitted Recipient that would have constituted a material breach
of this Agreement entitling Hadasit to terminate this Agreement according to Section 12.3(i) to this Agreement, had it been an act or
omission by Company hereunder, shall be treated as a material breach of this Agreement.

 

		6.	Diligence; Exclusivity.

 

		6.1.	The Company undertakes to use [***] efforts
to develop and introduce the Products into the market, subject to Section 8.2 below.

 

		6.2.	Nothing in this Agreement shall bar the Company from entering into similar agreements and arrangements
with other medical and research institutions.

 

		6.3.	[***].

 

		7.	Representations and Warranties of Hadasit; Disclaimer.

 

		7.1.	Hadasit represents, warrants and undertakes as follows, and the Company is entering into this Agreement
based on such representations and warranties:

 

		7.1.1.	that Hadasit has the full power and authority to enter into and perform this Agreement and to grant the
Access Rights, and has taken all necessary action to authorize the entry into and performance of this Agreement;

 

		7.1.2.	it shall use its best efforts to obtain Helsinki Committee approval for the Access Rights prior to the
transfer of the Qualified Data, and shall not transfer the Qualified Data until such approval has been obtained;

 

		7.1.3.	that it shall comply with all Applicable Laws in the performance of its duties and obligations hereunder;

 

		7.1.4.	it will use its best commercial efforts to maintain during the term of the Agreement, all necessary approvals
from the relevant authorities required (if at all) for the transfer of the Qualified Data in accordance with the terms hereof and shall
notify Company in writing without any undue delay should such approvals be revoked; and

 

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CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		7.1.5.	that the delivery by Hadasit of the Qualified Data in accordance with the terms hereof, and the execution
and delivery of this Agreement and the fulfillment of the terms hereof, does not constitute a default under, or breach of, any agreement
and/or undertaking and/or other instrument to which it is currently a party, and, do not require the consent of any person or entity which
has not been obtained. 

 

		7.2.	Other than explicitly provided herein, any and all Data to be fed into the Designated Server as well as
the Qualified Data provided under this Agreement is and shall be so provided “As-Is”, without any representations or warranties
whatsoever, whether express or implied, relating to the quality of the Data or Qualified Data or fitness for a particular purpose, completeness,
accuracy, merchantability, non-infringement, or otherwise. Nothing herein shall constitute a representation or warranty that Helsinki
Committee approval or any other required approvals will be obtained for the grant of the Access Rights.

 

		8.	Representations and Warranties of the Company; Disclaimer.

 

		8.1.	Company represents and warrants, and Hadasit is entering into this Agreement based on such representations
and warranties, as follows:

 

		8.1.1.	that the execution and delivery of this Agreement and the fulfillment of the terms hereof will not constitute
a default under, or breach of, any agreement and/or undertaking and/or other instrument to which it is a party and do not require the
consent of any person or entity which has not been obtained by the Company;

 

		8.1.2.	that it shall comply with Applicable Law and its contractual obligations in connection with use and utilization
of the Qualified Data, and the development and Sale of the Products;

 

		8.1.3.	Company acknowledges that it was brought to its attention that the Applicable Law with respect to the
Qualified Data and/or the interpretation or implementation thereof may vary during the term of this Agreement, and that such variation
may require Hadasit to (a) terminate this Agreement, provided that to the extent permitted by Applicable Law, Hadasit will provide Company
at least [***] written notice prior to such termination and shall work with Company in good faith to agree any necessary changes in order
to avoid terminating the Agreement; or (b) make changes hereto, provided that in the event Hadasit considers such changes are required,
(i) it shall notify Company in writing, (ii) discuss such changes with Company [***], and (iii) if Company, acting reasonably, does not
agree to such changes, Company shall have the right to terminate this Agreement in writing. Each Party represents and warrants that it
shall have no claim against the other Party in connection with such termination or alteration of this Agreement in accordance with this
Section 8.1.3; and

 

		8.1.4.	that it will not make use of or provide any information which it is restricted from disclosing or using
due to contractual undertakings (such as non-disclosure agreements) or by law,

 

		8.2.	No warranties are given by the Company regarding the development, novelty or the patentability or the
applicability of the Products and/or as to the merits or feasibility thereof, nor does the Company warrant the feasibility of the technological
or commercial success of the Products (if any).

 

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CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		9.	Consideration; Payments.

 

		9.1.	In consideration for the transfer of the Qualified Data to the Company’s Server as provided herein
and the Access Rights, the Company shall pay Hadasit the fixed sum and royalties, as provided in this Section 9, and as provided in Section
2.9 above.

 

		9.2.	The Company shall pay Hadasit a non-refundable, non-creditable access fee of $100,000 (One Hundred Thousand
US Dollars) less the External IT Service Costs actually reimbursed to Hadasit
by the Company (the “Access Fee”) which shall be divided into [***] instalments, which shall be due and payable
within 10 (ten) days of the Start Date and on the first and second anniversary of the Start Date. The Parties may agree in writing to
switch to quarterly payments by the Company and quarterly transfers of Qualified Data by Hadasit, in case both are agreed: (a) the remaining
Access Fee shall be divided into equal instalments, which shall be due and payable on a quarterly basis within 30 (thirty) days following
the end of each Calendar Quarter, and (b) Hadasit shall transfer the Qualified Data collected in each Calendar Quarter using reasonable
commercial efforts to do so within 10 (ten) business days of receipt of the applicable calendar payment, all unless the Agreement is terminated
pursuant to Section 12 and subject to fulfillment of Company’s payment obligations hereunder.

 

		9.3.	The Company shall pay Hadasit amounts equivalent to 2% (two percent) of Revenues generated throughout
the Revenue Sharing Period (the “Revenue Share”).

 

		9.4.	Within [***] days following the end of each Calendar Quarter, Company shall issue Hadasit a report setting
out Revenues generated that quarter. Hadasit shall then issue an invoice accordingly. The Revenue Share payable to Hadasit pursuant to
this Section 9 shall be paid to Hadasit on a quarterly basis within [***] days after the receipt of invoice from Hadasit, following the
end of each Calendar Quarter.

 

		9.5.	All payments made hereunder to Hadasit shall be made by wire transfer to the following bank account or
to any other bank account designated by Hadasit: [***].

 

		9.6.	Save for the payments pursuant to Section 2.9 above which shall be made in New Israeli Shekels and Euros
respectively, all payments due under this Agreement shall be payable in US dollars, except in the event of Revenues which are invoiced,
billed or received in New Israeli Shekels, Euro, or Pounds Sterling, with respect to which payments to Hadasit will be made in New Israeli
Shekels, Euro, or Pounds Sterling respectively. Conversion of foreign currency to U.S. dollars shall be made at the conversion rate existing
in the US (as reported in the Wall Street Journal) last published prior to the actual date of payment.

 

		9.7.	Any amount payable hereunder, which has not been made upon its due date of payment, shall bear interest
from the date such payment is due until the date of its actual payment at an interest rate charged by Leumi Bank of Israel Ltd. for a
loan of the said amount in the said currency plus an annual compounded interest at a rate of [***].

 

		9.8.	All amounts referred to in this Agreement are exclusive of Value Added Tax. The Company shall pay to Hadasit
all amounts of Value Added Tax imposed on Hadasit in connection with the transactions under this Agreement, in accordance with applicable
law, to the extent listed separately by Hadasit as a separate line item on the applicable invoice.

 

		9.9.	Save for the deduction of withholding tax as required by law unless Hadasit provides the Company with
an exemption from deduction of withholding tax, all payments to be made to Hadasit hereunder shall be made free and clear of, and without
any deduction for or on account of, any set-off, counterclaim or tax.

 

    9

     

    

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		9.10.	If the Company or its Affiliates, if incorporated outside of Israel, elect to make payments net of any
withholding tax that they may be required to deduct at source under law other than the law of Israel, the Company and its Affiliates will
provide Hadasit with reasonable assistance with Hadasit’s efforts to claim an exemption from or reduction in any applicable tax
withholdings and (if applicable) a refund of tax withheld, or to obtain a credit with respect to the tax paid.

 

		9.11.	Within [***] of receipt of each payment,
Hadasit shall submit to Company a valid tax receipt.

 

		10.	Reports and Records; Audit.

 

		10.1.	Within [***] after the end of each Calendar Quarter, commencing from the First Commercial Sale, the Company
shall furnish Hadasit with a full and detailed report [***], setting out (i) all amounts owing to Hadasit in respect of such previous
Calendar Quarter to which the report refers; (ii) any deductions applicable as provided in the definition of Revenues, and (iii) the exchange
rates, if any, used in determining the amount payable to Hadasit in US Dollars and in any calculations of Revenues.

 

		10.2.	Company shall keep complete and accurate books of account and records, consistent with sound business
and accounting principles and practices and in such form and in such details as to enable the determination of the amounts due to Hadasit
in terms hereof. The Company shall retain the foregoing books of account relating to a given Calendar Quarter for [***] after the end
of that Calendar Quarter.

 

		10.3.	Following the First Commercial Sale, and upon reasonable prior written notice, Hadasit shall have the
right, should Hadasit find it necessary, at its sole discretion and at its own expense but no more than once in any calendar year, to
have the books, ledgers, and records examined by an independent accounting firm which is one of the “Big Four” accounting
firms, provided that such independent accounting firm signs a confidentiality
and non-use agreement in a form acceptable to Company, [***], for the sole purpose of verifying the accuracy of all financial, accounting
and numerical information and calculations provided, and payments made, under this Agreement. For clarity, such independent accounting
firm, shall not disclose to Hadasit any information other than information relating to the accuracy of reports and payments delivered
under this Agreement. The Company shall permit and fully cooperate with such audit. If any amounts due to Hadasit in respect of any year
are determined to have been underpaid, in an amount equal to or greater than [***] of the amount actually paid by the Company to Hadasit
in respect of such year, then the Company shall (in addition to paying Hadasit the shortfall along with applicable interest), bear the
reasonable costs of such inspection.

 

		10.4.	Moreover, once a year during the term of this Agreement and during the Revenue Sharing Period (if longer),
the Company agrees to permit Hadasit or its representatives, upon reasonable prior written notice and at a time mutually agreed by the
Parties, to audit the Company for the purpose of determining the Company’s use of the Qualified Data in accordance with the permitted
uses approved hereunder and in accordance with Applicable Law (including the approval issued by HMO’s Helsinki Committee) and the
Company’s compliance with the provisions of the privacy, data protection, confidentiality and anonymization provisions of this Agreement.
Within the framework of such audit, the Company shall provide Hadasit and its authorized representatives with (i) access to the Company’s
premises and records; and (ii) assistance and cooperation of the Company’s relevant personnel.

 

    10

     

    

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		11.	Confidentiality. Publications.

 

		11.1.	All information designated by either Party as confidential, or any information that has not been identified
as "confidential" but should be reasonably assumed to be confidential due to its nature or circumstances of its disclosure,
which is disclosed or made available by such Party or on its behalf or by any of its employees, officers, agents, contractors or consultants,
or otherwise obtained or produced in connection with, relating to or arising from this Agreement, or such Party’s Proprietary Rights
(as defined below), whether in written, oral, electronic or any other form (respectively “Discloser” and “Confidential
Information”) shall be treated by the other Party and its employees and/or associated staff (each, a “Recipient”),
as confidential both during the term of this Agreement and thereafter following termination of this Agreement, and shall not be used (other
than for the purpose of this Agreement and as permitted herein) without the Discloser’s prior written consent. The Recipient shall
safeguard such Confidential Information with the same degree of care that Recipient maintains or protects its own confidential information,
but in any event, no less than a reasonable degree of care.

 

		11.2.	Recipient may not disclose any of the Discloser’s Confidential Information to any third party without
prior written approval from the Discloser, except (i) to Recipient’s employees and/or associated staff involved in
the performance of Recipient’s duties and obligations hereunder and/or exercise of rights hereunder (including Company’s Permitted
Recipients) who have a need-to-know, and who are bound by confidentiality and non-use undertakings similar to those contained herein;
and (ii) to the extent required by law and/or court order and/or any national Regulatory Authority, provided that Recipient promptly
notifies the Discloser thereof in order to enable it to seek an appropriate protective order or other reliable assurance that confidential
treatment will be accorded to such information (with Recipient’s assistance, if necessary). The confidentiality restrictions shall
not apply to [***].

 

		11.3.	At the request of the Discloser, the Recipient shall return to the Discloser, or destroy (at the Discloser’s
election) all Confidential Information and all copies or other manifestations of Confidential Information in the possession or control
of the Recipient, except for documents or materials that Recipient is required to retain pursuant to any Applicable Law or the terms of
this Agreement (which shall remain subject to the provisions of this Section 11).

 

		11.4.	Neither Party shall disclose this Agreement and the terms hereof, or use the name of the other Party or
any of their Affiliates or their respective employees in any manner whatsoever, including marketing, advertising, press release or other
promotional literature or any other publicity, without the other Party’s prior written consent, all except for any
mention in any applications to official authorities for Regulatory Approval (to the extent necessary), or in the fulfillment of any duty
owed (if any) to any competent authority. In case of an official press release or any other media publication, the Parties shall act in
a manner agreed upon by the Parties. The Company shall be entitled to provide a copy of this Agreement as part of a due diligence process
by a potential investor or potential business partner, provided that the counterparty executes a confidentiality undertaking with obligations
and restrictions that are no less stringent than those provided herein.

 

    11

     

    

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		11.5.	Hadasit and the Researcher shall have the right to publish findings connected with or arising from the
utilization of the Products (each, a “Publication”) in any scientific journals, manuscripts, book chapters or at any
scientific conferences or meetings or to give oral presentations (including lectures or seminars) to third parties relating thereto, but
shall not do so, in whole or in part, without obtaining the prior consent of Company in writing, not to be unreasonably withheld.

 

Notwithstanding the
foregoing, any such Publication shall be on the condition that the said contemplated Publication shall have been furnished to the Company
in advance and in writing at least [***] prior to publication or disclosure, for Company to examine and to determine if the proposed Publication
includes non-public information that should be protected by a patent application or constitutes a Company Invention or Company Confidential
Information. Should the Company notify Hadasit that it would like to file a patent application accordingly, then Hadasit shall postpone
such Publication for a cumulative period of [***] (as of the submission of Hadasit's written notification as provided herein above), or,
at Company's election, the relevant non-public information shall be deleted from such Publication. If the Company identifies in the proposed
Publication non-public information which is a Company Invention or Company Confidential Information, the Company will be entitled to request
the deletion of such Company Invention or Company Confidential Information from the Publication and Hadasit will accede to such request.
Notwithstanding the above, in the event that the Company believes, at its reasonable discretion, that such information that Hadasit wishes
to disclose in the Publication will harm the interests of the Company, and it does not wish to file a patent application (or believes
that such patent application will not be granted), Hadasit agrees not to publish the applicable information in the Publication.

 

		11.6.	Nothing in the foregoing shall be construed from derogating from either Party's obligations in relation
to the Qualified Data pursuant to this Agreement or from either Party’s obligations under Applicable Law.

 

		12.	Term and Termination. 

 

		12.1.	The term of this Agreement shall commence as of the Effective Date and shall continue in full force and
effect, unless prematurely terminated pursuant to any of the provisions hereof, until the expiration of the Revenue Sharing Period.

 

		12.2.	The Company may terminate this Agreement by written notice to Hadasit at any time prior to January 1,
2021 subject to [***] prior written notice. Termination hereunder shall be without penalty or liability therefor on the part of the Company
or the payment of any compensation, subject to the provisions of Section 13 below.

 

		12.3.	In the event of early termination of this Agreement for any reason, the Company shall not be relieved
from making any Revenue Share payments that are due pursuant to Section 9.3 above.

 

		12.4.	Either Party may terminate this Agreement by written notice to the other Party at any time upon or after:
(i) the commitment of a material breach of this Agreement which was not cured (if it may be cured) within [***] of written notice specifying
such breach; or (ii) a Liquidation Event.

 

		12.5.	Hadasit shall have the right to terminate this Agreement immediately upon written notice to Company pursuant
to Section 8.1.3 above, i.e. pursuant to Applicable Law or pursuant to an express instruction from a competent authority.

 

		12.6.	Company shall have the right to terminate this Agreement immediately upon written notice to Hadasit pursuant
to Section 2.5.2 above. 

 

    12

     

    

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		13.	Effect of Termination. 

 

		13.1.	Upon the expiration or termination of this Agreement for any reason (including as a result of expiry of
the Revenue Sharing Period), the Qualified Data and any other Data provided to the Company hereunder, including any copies thereof, shall
be - simultaneously with said termination - deleted or transferred to Hadasit, in accordance with Hadasit’s written instructions,
[***].

 

		13.2.	Other than provided under this Agreement, termination of this Agreement shall not affect any of the rights
and obligations of the Parties which shall have accrued prior to the effective date of such termination.

 

		13.3.	Without derogating from the generality of the above, the provisions of Sections 3, 4, 5.1 (but only to
the extent that this Agreement expires by reason of the lapse of the Revenue Sharing Period), 6.2, 6.3, 7.2, 8.2, 9.3-9.11, 10.2, 10.3,
10.4, 11, 12.3, 13, 14 and 15 shall survive the termination or expiration of this Agreement for any reason.

 

		14.	Indemnification; Limitation of Liability; Insurance.

 

		14.1.	The Company shall defend, indemnify and hold harmless the Researcher, Hadasit, HMO, and their respective
officers, directors, employees, and agents (hereinafter collectively, the “Indemnitees”) from and against any claim,
demand or action (a “Claim”) brought by any third party (including product liability claims), and any and all liabilities,
losses, damages, court costs, reasonable attorney's fees, or other costs or expenses resulting therefrom which result from the use and/or
exploitation and/or transfer by Company, its Affiliates and/or any of their respective subcontractors, distributors or sublicensees of
the Qualified Data and/or the Products, and/or the manufacture of the Products, by the Company, its Affiliates and/or any of their respective
subcontractors, distributors or sublicensees, provided, that such damages are not as a result of a material breach of this Agreement or
negligence or wrongful acts or omissions by Hadasit or any Indemnitees.

 

		14.2.	The Company shall have full authority and control over the defense and settlement of any such Claim. If
the Company fails to take action to contest a Claim (or to inform Hadasit that it plans to do so within the requisite time limits) at
least 14 (fourteen) days before the time limit, if any, set forth in the applicable laws and regulations for the filing of such action,
Hadasit shall have the right to bring and control any action or proceeding with respect to such Claim at the reasonable expense of the
Company and by counsel of Hadasit’s own choice. Hadasit shall not compromise or settle such litigation without the prior written
consent of the Company, which consent shall not be unreasonably withheld or delayed.

 

		14.3.	Hadasit shall: (i) promptly provide the Company with prompt written notice (in any event within 30 (thirty)
days after an Indemnitee’s receipt of written notice) of any Claim for which it and/or any of its Indemnitees seek to be indemnified,
defended or held harmless under this Agreement; and (ii) reasonably cooperate (and use reasonable efforts to ensure that its Indemnitees
reasonably cooperate) with the Company and its agents in defense of any such Claim, at the Company’s expense.

 

		14.4.	In no event shall either Party be liable to the other party for any incidental, indirect, special, exemplary,
or consequential damages including, but not limited to, damages for loss of profits, business interruption, and the like, in each case
even if such Party has been advised of the possibility of such damages.

 

    13

     

    

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		14.5.	In no event shall the total liability of Hadasit and/or HMO under or in relation to this Agreement exceed
an amount equal to two (2) times the amounts actually paid or payable to Hadasit by the Company under this Agreement prior to the event
giving rise to the claim. The foregoing limitation of liability shall not apply to (i) liability which cannot be limited by virtue of
applicable law, (ii) losses arising as a result of third party claims due to the transfer of Personally Identifying Information by Hadasit
in breach of Ministry Guidelines, or to (iii) Hadasit’s willful misconduct or gross negligence.

 

		14.6.	The Company shall maintain, at its cost, insurance against legal liability and other risks reasonably
associated with its activities and obligations under this Agreement and in relation to the Products (but commencing only on initiation
of clinical trials (if applicable), or if no clinical trials are required, following the First Commercial Sale). The Researcher, Hadasit
and HMO and the respective employees, officers and directors of Hadasit and HMO shall be listed as additional insureds to those policies.
The Company shall notify Hadasit at least 30 (thirty) days in advance of the expiry or cancellation of the policy or policies. The Company
shall furnish Hadasit with evidence of such insurance at Hadasit’s request.

 

		15.	Governing law; Dispute Resolution.

 

		15.1.	The laws of the State of Israel shall govern this Agreement, and save as provided in this Section 15 below,
the competent courts located in the Tel Aviv-Jaffa shall have exclusive jurisdiction in any matter arising out of or relating to this
Agreement.

 

		15.2.	Any dispute between the Parties as to whether a product or service constitutes a Product or Bundled Product
pursuant to this Agreement and/or in connection with the portion of the Revenues due to Hadasit in connection with the Sale of a Bundled
Product shall be referred to an independent expert, jointly selected by the Parties, or in the event of failure to agree on the identity
of such expert within 30 (thirty) days, by the patent attorneys of the Parties (“Expert”). The Expert shall act as
an expert and not as an arbitrator, and his/her decision shall be final and binding upon the Parties. The Parties shall fully cooperate
with the Expert proceedings, including providing all relevant information, documentation and access to personnel. The cost of the Expert
shall be borne in equal portions by the Parties.

 

		16.	Miscellaneous.

 

		16.1.	The Parties are independent contractors. Nothing herein shall be deemed to create any principal/agent,
employee-employer, joint venture or other business relationship between the Parties. No Party shall be deemed an employee, agent, partner
or legal representative of the other Party, for any purpose, and neither shall have any right, power or authority to create any obligation
or responsibility on behalf of the other.

 

		16.2.	Except where expressly stated otherwise, nothing in this Agreement shall create or be construed as any
obligation, express or implied on the part of either Party to enter into any other agreement.

 

		16.3.	This Agreement represents the entire understanding and agreement between the Parties with respect to the
subject matter hereof and thereof, and supersedes all prior communications, agreements and understandings relating to the subject matter
hereof and thereof.

 

    14

     

    

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

		16.4.	No change, modification or amendment of this Agreement, will be valid unless executed by all Parties.
The observance of any term hereof or thereof may be waived (either prospectively or retroactively and either generally or in a particular
instance) only with the written consent of the Party from which the waiver is being sought; no failure or delay in enforcing any right
will be deemed a waiver.

 

		16.5.	This Agreement shall bind and inure to the benefit
of the Parties and their successors and permitted assigns. This Agreement may not be assigned by either Party without the consent
of the other, which consent shall not be unreasonably withheld, except that each Party may, without such consent,
assign this Agreement and the rights, obligations and interests of such Party, in whole or in part, to any of its Affiliates, to any purchaser
of all or substantially all of its assets, or to any successor corporation resulting from any merger or consolidation of such Party with
or into such corporation, provided that any such assignee agrees in writing to be bound by the terms of this Agreement.

 

		16.6.	Each notice and/or demand given by a Party pursuant to this Agreement shall be in writing to the other
Party at the address appearing below and such notice and/or demand shall be deemed given upon the earlier of: (i) the expiration of five
(5) days from the date of mailing by registered mail, (ii) the first business days following transmission by e-mail, or (iii) upon delivery
if delivered by hand.

 

To the Company:

NuvoGroup Ltd

94 Yigal Alon Street Tower 1, 26th floor

Tel Aviv

6789155

Email: [***]

[***]

 

If to Hadasit:

Hadasit Medical Research and Development
Ltd.

POB 12000

Jerusalem Israel

Email:
[***]

[***]

 

With a copy (which will not constitute
notice):

Pearl Cohen Zedek Latzer Baratz

Attorneys-at-Law & Notaries

121 Derech Menachem Begin

Tel-Aviv 6701203

Email: [***]

 

		16.7.	In the event that any of the provisions of this Agreement shall be held by a court or other tribunal of
competent jurisdiction to be illegal, invalid or unenforceable, such provisions shall be limited or eliminated to the minimum extent necessary
so that this Agreement shall otherwise remain in full force and effect.

 

[THE Remainder
of this page was intentionally left blank]

 

    15

     

    

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT
BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE IDENTIFIED
AS [***].

 

[Signature Page to Agreement]

 

IN WITNESS WHEREOF the Parties have executed
this Agreement as of the date first hereinabove set forth.

 

	/s/ Oren Oz	 	/s/ Authorized Signatory
	NUVO GROUP Ltd.	 	HADASIT MEDICAL RESEARCH SERVICES & DEVELOPMENT, LTD.
	 	 	 
	By: 	Oren Oz	 	By: 	[***]                                
	Title: 	Founder & CEO	 	Title: 	[***]

 

Annex A: Data

 

[***]Exhibit
10.19

 

 

 

	Nuvo
    Group Ltd.
	2021
    Share Incentive Plan

 

 

 

Unless
otherwise defined, terms used herein shall have the meaning ascribed to them in Section 2 hereof.

 

1.
PURPOSE; TYPES OF AWARDS; CONSTRUCTION.

 

1.1. Purpose.
The purpose of this 2021 Share Incentive Plan (as amended, this “Plan”) is to afford an incentive to Service Providers
of Nuvo Group Ltd., an Israeli company (together with any successor corporation thereto, the “Company”), or any Affiliate
of the Company, which now exists or hereafter is organized or acquired by the Company or its Affiliates, to continue as Service Providers,
to increase their efforts on behalf of the Company or its Affiliates and to promote the success of the Company’s business, by providing
such Service Providers with opportunities to acquire a proprietary interest in the Company by the issuance of Shares or restricted Shares
(“Restricted Shares”) of the Company, Options, Restricted Share Units (“RSUs”), share appreciation
rights and other Share-based Awards pursuant to Sections 11 through 13 of this Plan. 

 

1.2. Types
of Awards. This Plan is intended to enable the Company to issue Awards under various tax regimes, including:

 

(i) pursuant
and subject to the provisions of Section 102 of the Ordinance (or the corresponding provision of any subsequently enacted statute, as
amended from time to time), and all regulations and interpretations adopted by any competent authority, including the Israel Tax Authority
(the “ITA”), including the Income Tax Rules (Tax Benefits in Stock Issuance to Employees) 5763-2003 or such other
rules so adopted from time to time (the “Rules”) (such Awards that are intended to be (as set forth in the Award Agreement)
and which qualify as such under Section 102 of the Ordinance and the Rules, “102 Awards”);

 

(ii) pursuant
to Section 3(i) of the Ordinance or the corresponding provision of any subsequently enacted statute, as amended from time to time (such
Awards, “3(i) Awards”);

 

(iii) Incentive
Stock Options within the meaning of Section 422 of the Code, or the corresponding provision of any subsequently enacted United States
federal tax statute, as amended from time to time, to be granted to Employees who are deemed to be residents of the United States, for
purposes of taxation, or are otherwise subject to U.S. Federal income tax (such Awards that are intended to be (as set forth in the Award
Agreement) and which qualify as an incentive stock option within the meaning of Section 422(b) of the Code, “Incentive Stock
Options”);

 

(iv) Options
not intended to be (as set forth in the Award Agreement) or which do not qualify as Incentive Stock Options (“Nonqualified Stock
Options”)

 

(v) Share
appreciation rights; and

 

(vi) Restricted
Shares, RSUs and other forms of Share-based Awards.

 

In
addition to the issuance of Awards under the relevant tax regimes in the United States of America and the State of Israel, and without
derogating from the generality of Section 24, this Plan contemplates issuances to Grantees in other jurisdictions or under other tax
regimes with respect to which the Committee is empowered, but is not required, to make the requisite adjustments in this Plan, to adopt
sub-plans under this Plan and/or to set forth the relevant conditions in an appendix to this Plan or in the Company’s agreement
with the Grantee in order to comply with Applicable Law of such other jurisdictions or the requirements of such other tax regimes.

 

     

     

    

 

1.3. Construction.
To the extent any provision herein conflicts with the conditions of any relevant tax law, rule or regulation which are relied upon for
tax relief in respect of a particular Award to a Grantee, the Committee is empowered, but is not required, hereunder to determine that
the provisions of such law, rule or regulation shall prevail over those of this Plan and to interpret and enforce such prevailing provisions.
With respect to 102 Awards, if and to the extent any action or the exercise or application of any provision hereof or authority granted
hereby is conditioned or subject to obtaining a ruling or tax determination from the ITA, to the extent required by Applicable Law, then
the taking of any such action or the exercise or application of such section or authority with respect to 102 Awards shall be conditioned
upon obtaining such ruling or tax determination, and, if obtained, shall be subject to any condition set forth therein; it being clarified
that there is no obligation to apply for any such ruling or tax determination (which shall be in the sole discretion of the Committee)
and no assurance is made that if applied any such ruling or tax determination will be obtained (or the conditions thereof).

 

2. DEFINITIONS.

 

2.1. Terms
Generally. Except when otherwise indicated by the context, (i) the singular shall include the plural and the plural shall include
the singular; (ii) any pronoun shall include the corresponding masculine, feminine and neuter forms; (iii) any definition of or reference
to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document
as from time to time amended, restated, supplemented or otherwise modified (subject to any restrictions on such amendments, restatements,
supplements or modifications set forth therein or herein), (iv) references to any law, constitution, statute, treaty, regulation, rule
or ordinance, including any section or other part thereof shall refer to it as amended from time to time and shall include any successor
thereof, (v) reference to a “company” or “entity” shall include a, partnership, corporation, limited liability
company, association, trust, unincorporated organization, or a government or agency or political subdivision thereof, and reference to
a “person” shall mean any of the foregoing or an individual, (vi) the words “herein”, “hereof” and
“hereunder”, and words of similar import, shall be construed to refer to this Plan in its entirety, and not to any particular
provision hereof, (vii) all references herein to Sections shall be construed to refer to Sections to this Plan; (viii) the words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”; and
(ix) use of the term “or” is not intended to be exclusive.

 

2.2.
Defined Terms. The following terms shall have the meanings ascribed to them in this Section 2:

 

2.3. “Affiliate”
shall mean, (i) with respect to any person, any other person that, directly or indirectly through one or more intermediaries, controls,
is controlled by, or is under common control with, such person (with the term “control” or
“controlled by” within the meaning of Rule 405 of Regulation C under the Securities Act), including, without limitation,
any Parent or Subsidiary, or (ii) Employer.

 

2.4. “Applicable
Law” shall mean any applicable law, rule, regulation, statute, pronouncement, policy, interpretation, judgment, order or decree
of any federal, provincial, state or local governmental, regulatory or adjudicative authority or agency, of any jurisdiction, and the
rules and regulations of any stock exchange, over-the-counter market or trading system on which the Company’s shares are then traded
or listed.

 

2.5. “Award”
shall mean any issuance of Shares or Restricted Shares, Options, RSUs, share appreciation rights and other Share-based Awards granted
under this Plan.

 

2.6. “Board”
shall mean the Board of Directors of the Company.

 

2.7. “Change
in Board Event” shall mean any time at which individuals who, as of the Effective Date, constitute the Board (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual
becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company’s shareholders,
was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such
individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office
occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or
threatened solicitation of proxies or consents by or on behalf of a Person other than the Board.

 

    2

     

    

 

2.8. “Code”
shall mean the United States Internal Revenue Code of 1986, and any applicable regulations promulgated thereunder, all as amended.

 

2.9. “Committee”
shall mean a committee established or appointed by the Board to administer this Plan, subject to Section 3.1. 

 

2.10. “Companies
Law” shall mean the Israel Companies Law, 5759-1999, and the regulations promulgated thereunder, all as amended from time to
time.

 

2.11.
“Controlling Shareholder” shall have the meaning set forth in Section 32(9) of the
Ordinance.

 

2.12. “Disability”
shall mean (i) the inability of a Grantee to engage in any substantial gainful activity or to perform the major duties of the Grantee’s
position with the Company or its Affiliates by reason of any medically determinable physical or mental impairment which has lasted or
can be expected to last for a continuous period of not less than 12 months (or such other period as determined by the Committee), as
determined by a qualified doctor acceptable to the Company, (ii) if applicable, a “permanent and
total disability” as defined in Section 22(e)(3) of the Code or Section 409A(a)(2)(c)(i) of the Code, as amended from time to time,
or (iii) as defined in a policy of the Company that the Committee deems applicable to this Plan, or that makes reference to this Plan,
for purposes of this definition.

 

2.13. “Employee”
shall mean any person treated as an employee (including an officer or a director who is also treated as an employee) in the records of
the Company or any of its Affiliates (and in the case of 102 Awards, subject to Section 9.3 or in the case of Incentive Stock Options,
who is an employee for purposes of Section 422 of the Code); provided, however, that neither service as a director nor
payment of a director’s fee shall be sufficient to constitute employment for purposes of this Plan. The Company shall determine
in good faith and in the exercise of its discretion whether an individual has become or has ceased to
be an Employee and the effective date of such individual’s employment or termination of employment, as the case may be. For purposes
of a person’s rights, if any, under this Plan as of the time of the Company’s determination, all such determinations by the
Company shall be final, binding and conclusive, notwithstanding that the Company or any court of law or governmental agency subsequently
makes a contrary determination. 

 

2.14. “Employer”
means, for purpose of a 102 Trustee Award, the Company or an Affiliate, Subsidiary or Parent thereof, which is an “employing company”
within the meaning and subject to the conditions of Section 102(a) of the Ordinance. 

 

2.15. “employment”,
“employed” and words of similar import shall be deemed to refer to the employment of Employees or to the services
of any other Service Provider, as the case may be.

 

2.16. “Exchange
Act” shall mean the U.S. Securities Exchange Act of 1934, as amended, and all regulations, guidance and other interpretative
authority issued thereunder.

 

2.17. “exercise,”
“exercised” and words of similar import, when referring to an Award that does not require exercise or that is settled
upon vesting (such as may be the case with RSUs or Restricted Shares, if so determined in their terms), shall be deemed to refer to the
vesting of such an Award (regardless of whether or not the wording included reference to vesting of such an Awards explicitly).

 

2.18. “Exercise
Period” shall mean the period, commencing on the date of grant of an Award, during which an Award shall be exercisable, subject
to any vesting provisions thereof (including any acceleration thereof, if any) and subject to the termination provisions hereof.

 

2.19. “Exercise
Price” shall mean the exercise price for each Share covered by an Option or the purchase price for each Share covered by any
other Award.

 

    3

     

    

 

2.20. “Fair
Market Value” shall mean, as of any date, the value of a Share or other securities, property or rights as determined by the
Board, in its discretion, subject to the following: (i) if, on such date, the Shares are listed on any securities exchange, the closing
sales price per Share on the securities exchange on which the Shares are principally traded on such date, or if no sale occurred on such
date, the last day preceding such date on which a sale occurred, as reported in The Wall Street Journal or such other source as the Company
deems reliable; (ii) if, on such date, the Shares are then quoted in an over-the-counter market, the average of the closing bid and asked
prices for the Shares in that market on such date, or if there are no bid and asked prices on such date, the last day preceding such
date on which there are bid and asked prices, as reported in The Wall Street Journal or such other source as the Company deems reliable;
or (iii) if, on such date, the Shares are not then listed on a securities exchange or quoted in an over-the-counter market, or in case
of any other securities, property or rights, such value as the Committee, in its sole discretion, shall determine, with full authority
to determine the method for making such determination and which determination shall be conclusive and binding on all parties, and shall
be made after such consultations with outside legal, accounting and other experts as the Committee may deem advisable; provided,
however, that, if applicable, the Fair Market Value of the Shares shall be determined in a manner that is intended to satisfy
the applicable requirements of and subject to Section 409A of the Code, and with respect to Incentive Stock Options, in a manner that
is intended to satisfy the applicable requirements of and subject to Section 422 of the Code, subject to Section 422(c)(7) of the Code.
The Committee shall maintain a written record of its method of determining such value. If the Shares are listed or quoted on more than
one established stock exchange or over-the-counter market, the Committee shall determine the principal
such exchange or market and utilize the price of the Shares on that exchange or market (determined as per the method described in clauses
(i) or (ii) above, as applicable) for the purpose of determining Fair Market Value.

 

2.21. “Grantee”
shall mean a person who has been granted an Award(s) under this Plan.

 

2.22. “Option”
shall mean a grant of options to purchase Shares, including, for the avoidance of doubt, Incentive Stock Options and Nonqualified Stock
Options. 

 

2.23. “Ordinance”
shall mean the Israeli Income Tax Ordinance (New Version) 5271-1961, and the regulations and rules (including the Rules) promulgated
thereunder, all as amended from time to time.

 

2.24. “Parent”
shall mean any company (other than the Company), which now exists or is hereafter organized, (i) in an unbroken chain of companies ending
with the Company if, at the time of granting an Award, each of the companies (other than the Company) owns stock possessing fifty percent
(50%) or more of the total combined voting power of all classes of stock in one of the other companies in such chain, or (ii) if applicable
and for purposes of Incentive Stock Options, that is a “parent corporation” of the Company, as defined in Section 424(e)
of the Code.

 

2.25. “Retirement”
shall mean a Grantee’s retirement pursuant to Applicable Law or in accordance with the terms of any tax-qualified retirement plan
maintained by the Company or any of its Affiliates in which the Grantee participates or is subject to.

 

2.26. “Securities
Act” shall mean the U.S. Securities Act of 1933, and the rules and regulations promulgated thereunder, all as amended from
time to time.

 

2.27. “Service
Provider” shall mean an Employee, director, officer, consultant, advisor and any other person, who provides services to the
Company or any Parent, Subsidiary or other Affiliate thereof. Service Providers shall include prospective Service Providers to whom Awards
are granted in connection with written offers of an employment or other service relationship with the Company or any Parent, Subsidiary
or any other Affiliates thereof, provided, however, that such employment or service shall have actually commenced. Notwithstanding
the foregoing, unless otherwise determined by the Committee, each Service Provider shall be an “employee” as defined in the
General Instructions to Form S-8 Registration Statement under the Securities Act (or any successor form thereto) at the time the Award
is granted to the Service Provider. 

 

2.28.
“Share(s)” shall mean Ordinary Share(s), of no par value, of the Company (including
Ordinary Shares resulting or issued as a result of share split, reverse share split, bonus shares, combination or other recapitalization
events), or shares of such other class of shares of the Company as shall be designated by the Board in respect of the relevant Award(s).
“Shares” include any securities or property issued or distributed with respect thereto.

 

2.29. “Subsidiary”
shall mean any company (other than the Company), which now exists or is hereafter organized or acquired by the Company, (i) in an unbroken
chain of companies beginning with the Company if, at the time of granting an Award, each of the companies other than the last company
in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in
one of the other companies in such chain, or (ii) if applicable and for purposes of Incentive Stock Options,
that is a “subsidiary corporation” of the Company, as defined in Section 424(f) of the Code.

 

    4

     

    

 

2.30.
“tax(es)” shall mean (a) all federal, state, local or foreign taxes, charges, fees,
imposts, levies or other assessments, including all income, capital gains, alternative or add-on minimum, transfer, value added tax,
real and personal property, withholding, payroll, employment, escheat, social security, disability, national security, health tax, wealth
surtax, stamp, registration and estimated taxes, customs duties, fees, assessments and charges of any similar kind whatsoever (including
under Section 280G of the Code) or other tax of any kind whatsoever, (b) all interest, indexation differentials, penalties, fines, additions
to tax or additional amounts imposed by any taxing authority in connection with any item described in clause (a), (c) any transferee
or successor liability in respect of any items described in clauses (a) or (b) payable by reason of contract, assumption, transferee
liability, successor liability, operation of Applicable Law, or as a result of any express or implied obligation to assume Taxes or to
indemnify any other person, and (d) any liability for the payment of any amounts of the type described in clause (a) or (b) payable as
a result of being a member of an affiliated, consolidated, combined, unitary or aggregate or other group for any taxable period, including
under U.S. Treasury Regulations Section 1.1502-6(a) (or any predecessor or successor thereof of any analogous or similar provision under
Applicable Law) or otherwise.

 

2.31. “Ten
Percent Shareholder” shall mean a Grantee who, at the time an Award is granted to the Grantee, owns shares possessing more
than ten percent (10%) of the total combined voting power of all classes of shares of the Company or any Parent or Subsidiary, within
the meaning of Section 422(b)(6) of the Code.

 

2.32. “Trustee”
shall mean the trustee appointed by the Committee to hold the Awards (and, in relation with 102 Trustee Awards, approved by the ITA),
if so appointed.

 

2.33. Other
Defined Terms. The following terms shall have the meanings ascribed to them in the Sections set forth below:

 

	 	Term	Section
	 	102
    Awards	1.2(i)
	 	102
    Capital Gains Track Awards	9.1
	 	102
    Non-Trustee Awards	9.2
	 	102
    Ordinary Income Track Awards	9.1
	 	102
    Trustee Awards	9.1
	 	3(i)
    Awards	1.2(ii)
	 	Award
    Agreement	6
	 	Cause	6.6.4.4
	 	Company	1.1
	 	Effective
    Date	24.1
	 	Election	9.2
	 	Eligible
    102 Grantees	9.3.1
	 	Incentive
    Stock Options	1.2(iii)
	 	Information	‎16.4
	 	ITA	1.1(i)
	 	Merger/Sale	14.2
	 	Nonqualified
    Stock Options	1.2(iv)
	 	Plan	1.1
	 	Prior
    Plan(s)	5.2
	 	Pool	‎5.1
	 	Recapitalization	14.1
	 	Required
    Holding Period	9.5
	 	Restricted
    Period	11.2
	 	Restricted
    Share Agreement	11
	 	Restricted
    Share Unit Agreement	12
	 	Restricted
    Share	1.1
	 	RSUs	1.1
	 	Rules	1.1(i)
	 	Successor
    Corporation	14.2.1
	 	Withholding
    Obligations	17.5

 

    5

     

    

 

3. ADMINISTRATION.

 

3.1. To
the extent permitted under Applicable Law, the Company’s Amended and Restated Articles of Association (as may be amended and supplemented
from time to time, the “Articles of Association”) and any other governing document of the Company, this Plan shall
be administered by the Committee. In the event that the Board does not appoint or establish a committee to administer this Plan, this
Plan shall be administered by the Board and, accordingly, any and all references herein to the Committee shall be construed as references
to the Board. In the event that an action necessary for the administration of this Plan is required under Applicable Law to be taken
by the Board without the right of delegation, or if such action or power was explicitly reserved by the Board in appointing, establishing
and empowering the Committee, then such action shall be so taken by the Board. In any such event, all references herein to the Committee
shall be construed as references to the Board. Even if such a Committee was appointed or established, the Board may take any actions
that are stated to be vested in the Committee, and shall not be restricted or limited from exercising all rights, powers and authorities
under this Plan or Applicable Law.

 

3.2.
The Board shall appoint the members of the Committee, may from time to time remove members from, or add
members to, the Committee, and shall fill vacancies in the Committee, however caused, provided that the composition of the Committee
shall at all times be in compliance with any mandatory requirements of Applicable Law, the Articles of Association and any other governing
document of the Company. The Committee may select one of its members as its Chairman and shall hold its meetings at such times and places
as it shall determine. The Committee may appoint a Secretary, who shall keep records of its meetings, and shall make such rules and regulations
for the conduct of its business as it shall deem advisable and subject to mandatory requirements of Applicable Law.

 

3.3. Subject
to the terms and conditions of this Plan, any mandatory provisions of Applicable Law and any provisions of any Company policy required
under mandatory provisions of Applicable Law, and in addition to the Committee’s powers contained elsewhere in this Plan, the Committee
shall have full authority, in its discretion, from time to time and at any time, to determine any of the following, or to recommend to
the Board any of the following if it is not authorized to take such action according to Applicable Law:

 

(i) eligible
Grantees,

 

(ii) grants
of Awards and setting the terms and provisions of Award Agreements (which need not be identical) and any other agreements or instruments
under which Awards are made, including, the number of Shares underlying each Award and the class of Shares underlying each Award (if
more than one class was designated by the Board),

 

(iii) the
time or times at which Awards shall be granted,

 

(iv) the
terms, conditions and restrictions applicable to each Award (which need not be identical) and any Shares acquired upon the exercise or
(if applicable) vesting thereof, including, (1) designating Awards under Section 1.2; (2) the vesting schedule, the acceleration thereof
and terms and conditions upon which Awards may be exercised or become vested, (3) the Exercise Price, (4) the method of payment for Shares
purchased upon the exercise or (if applicable) vesting of the Awards, (5) the method for satisfaction of any tax withholding obligation
arising in connection with the Awards or such Shares, including by the withholding or delivery of Shares, (6) the time of the expiration
of the Awards, (7) the effect of the Grantee’s termination of employment with the Company or any of its Affiliates, and (8) all
other terms, conditions and restrictions applicable to the Award or the Shares not inconsistent with the terms of this Plan,

 

(v) to
accelerate, continue, extend or defer the exercisability of any Award or the vesting thereof, including with respect to the period following
a Grantee’s termination of employment or other service,

 

    6

     

    

 

(vi) the
interpretation of this Plan and any Award Agreement and the meaning, interpretation and applicability of terms referred to in Applicable
Law,

 

(vii) policies,
guidelines, rules and regulations relating to and for carrying out this Plan, and any amendment, supplement or rescission thereof, as
it may deem appropriate,

 

(viii) to
adopt supplements to, or alternative versions of, this Plan, including, without limitation, as it deems necessary or desirable to comply
with the laws of, or to accommodate the tax regime or custom of, foreign jurisdictions whose citizens or residents may be granted Awards,

 

(ix) the
Fair Market Value of the Shares or other securities, property or rights,

 

(x) the
tax track (capital gains, ordinary income track or any other track available under the Section 102 of the Ordinance) for the purpose
of 102 Awards,

 

(xi) the
authorization and approval of conversion, substitution, cancellation or suspension under and in accordance with this Plan of any or all
Awards or Shares,

 

(xii) unless
otherwise provided under the terms of this Plan, the amendment, modification, waiver or supplement of the terms of any outstanding Award
(including reducing the Exercise Price of an Award), provided, however, that if such amendments increase the Exercise Price of an Award
or reduce the number of Shares underlying an Award, then such amendments shall require the consent of the applicable Grantee, unless
such amendment is made pursuant to the exercise of rights or authorities in accordance with Sections 14 or 24,

 

(xiii) without
limiting the generality of the foregoing, and subject to the provisions of Applicable Law, to grant to a Grantee, who is the holder of
an outstanding Award, in exchange for the cancellation of such Award, a new Award having an Exercise Price lower than that provided in
the Award so canceled and containing such other terms and conditions as the Committee may prescribe in accordance with the provisions
of this Plan or to set a new Exercise Price for the same Award lower than that previously provided in the Award, in each case, without
the consent of the Company’s shareholders,

 

(xiv) to
correct any defect, supply any omission or reconcile any inconsistency in this Plan or any Award Agreement and all other determinations
and take such other actions with respect to this Plan or any Award as it may deem advisable to the extent not inconsistent with the provisions
of this Plan or Applicable Law, and

 

(xv) any
other matter which is necessary or desirable for, or incidental to, the administration of this Plan and any Award thereunder.

 

3.4. The
authority granted hereunder includes the authority to modify Awards to eligible individuals who are foreign nationals or are individuals
who are employed outside the State of Israel or the United States of America, to recognize differences in local law, tax policy or custom,
in order to effectuate the purposes of this Plan but without amending this Plan.

 

3.5. The
Board and the Committee shall be free at all times to make such determinations and take such actions as they deem fit. The Board and
the Committee need not take the same action or determination with respect to all Awards, with respect to certain types of Awards, with
respect to all Service Providers or any certain type of Service Providers and actions and determinations may differ as among the Grantees,
and as between the Grantees and any other holders of securities of the Company.

 

3.6. All
decisions, determinations, and interpretations of the Committee, the Board and the Company under this Plan shall be final and binding
on all Grantees (whether before or after the issuance of Shares pursuant to Awards), unless otherwise determined by the Committee, the
Board or the Company, respectively. The Committee shall have the authority (but not the obligation) to determine the interpretation and
applicability of Applicable Law to any Grantee or any Awards. No member of the Committee or the Board shall be liable to any Grantee
for any action taken or determination made in good faith with respect to this Plan or any Award granted hereunder.

 

    7

     

    

 

3.7. Any
officer or authorized signatory of the Company shall have the authority to act on behalf of the Company with respect to any matter, right,
obligation, determination or election which is the responsibility of or which is allocated to the Company herein, provided such person
has apparent authority with respect to such matter, right, obligation, determination or election. Such person or authorized signatory
shall not be liable to any Grantee for any action taken or determination made in good faith with respect to this Plan or any Award granted
hereunder.

 

4. ELIGIBILITY.

 

Awards
may be granted to Service Providers of the Company or any Affiliate thereof, taking into account, at the Committee’s discretion
and without an obligation to do so, the qualification under each tax regime pursuant to which such Awards are granted, subject to the
limitation on the granting of Incentive Stock Options set forth in Section 8.1. A person who has been granted an Award hereunder may
be granted additional Awards, if the Committee shall so determine, subject to the limitations herein. However, eligibility in accordance
with this Section 4 shall not entitle any person to be granted an Award, or, having been granted an Award, to be granted an additional
Award.

 

Awards
may differ in number of Shares covered thereby, the terms and conditions applying to them or on the Grantees or in any other respect
(including, that there should not be any expectation (and it is hereby disclaimed) that a certain treatment, interpretation or position
granted to one shall be applied to the other, regardless of whether or not the facts or circumstances are the same or similar).

 

5. SHARES.

 

5.1. The
maximum aggregate number of Shares that may be issued pursuant to Awards under this Plan (the “Pool”) shall be the
sum of (a) 1,250,000 Shares plus (and without the need to further amend the Plan); plus (b) on January 1st, 2022 and
on January 1st of each calendar year thereafter through and including January 1, 2031, a number of Shares equal to the lesser
of: (i) five percent (5%) of the total number of Shares outstanding as of the end of the last day of the immediately preceding calendar
year, and (ii) such smaller amount of Shares as is determined by the Board, if so determined prior to the January 1st of the
calendar year in which the increase will occur (in each case, without the need to amend the Plan in case of such determination); plus
(c) any Shares underlying awards under the Prior Plans as of the Effective Date which, following the Effective Date, become available
for issuance under the Plan pursuant to Section 5.2 below, in all events subject to adjustment as provided in Section 14.1. Notwithstanding
the foregoing, the total number of Shares that may be issued pursuant to Incentive Stock Options granted under this Plan shall be 1,250,000,
subject to adjustment as provided in Section 14.1. The Board may, at its discretion, reduce the number of Shares that may be issued pursuant
to Awards under this Plan, at any time (provided that such reduction does not derogate from any issuance of Shares in respect of Awards
then outstanding).

 

5.2. Any
Shares (a) underlying an Award granted hereunder or an award granted under the Company’s 2015 Share Incentive Plan, as amended
(the “Prior Plan(s)”) that has expired, or was cancelled, terminated, forfeited, or
settled in cash in lieu of issuance of Shares, for any reason, without having been exercised; (b) if permitted by the Company, tendered
to pay the Exercise Price of an Award (or the exercise price or other purchase price of any option or other award under the Prior
Plan(s)), or withholding tax obligations with respect to an Award (or any awards under the Prior Plan(s));
or (c) if permitted by the Company, subject to an Award (or any award under the Prior Plan(s)) that are not delivered to a Grantee because
such Shares are withheld to pay the Exercise Price of such Award (or any award under the Prior Plan(s)), or withholding tax obligations
with respect to such Award (or such other award); shall automatically, and without any further action on the part of the Company or any
Grantee, again be available for grant of Awards and for issuance upon exercise or (if applicable) vesting thereof for the purposes of
this Plan (unless this Plan shall have been terminated), unless the Board determines otherwise. Such Shares may be, in whole or in part,
authorized but unissued Shares, (and, subject to obtaining a ruling as it applies to 102 Awards) treasury shares (dormant shares) or
otherwise Shares that shall have been or may be repurchased by the Company (to the extent permitted pursuant to the Companies Law).

 

    8

     

    

 

5.3. Unless
determined otherwise by the Board or Committee, any Shares under the Pool that are not subject to outstanding or exercised Awards at
the termination of this Plan shall cease to be reserved for the purpose of this Plan.

 

5.4. From
and after the Effective Date, no further grants or awards shall be made under the Prior Plan(s); however, Awards made under the Prior
Plan(s) before the Effective Date shall continue in effect in accordance with their terms.

 

6. TERMS
AND CONDITIONS OF AWARDS.

 

Each
Award granted pursuant to this Plan shall be evidenced by a written or electronic agreement between the Company and the Grantee or a
written or electronic notice delivered by the Company (the “Award Agreement”), in substantially such form or forms
and containing such terms and conditions, as the Committee shall from time to time approve. The Award Agreement shall comply with and
be subject to the following general terms and conditions and the provisions of this Plan (except for any provisions applying to Awards
under different tax regimes), unless otherwise specifically provided in such Award Agreement, or the terms referred to in other Sections
of this Plan applying to Awards under such applicable tax regimes, or terms prescribed by Applicable Law. Award Agreements need not be
in the same form and may differ in the terms and conditions included therein.

 

6.1. Number
of Shares. Each Award Agreement shall state the number of Shares covered by the Award.

 

6.2. Type
of Award. Each Award Agreement may state the type of Award granted thereunder, provided that the tax treatment of any Award, whether
or not stated in the Award Agreement, shall be as determined in accordance with Applicable Law. 

 

6.3. Exercise
Price. Each Award Agreement shall state the Exercise Price, if applicable. Unless otherwise set forth in this Plan, an Exercise Price
of an Award of less than the par value of the Shares (if shares bear a par value) shall comply with Section 304 of the Companies Law.
Subject to Sections 3, 7.2 and 8.2 and to the foregoing, the Committee may, without the consent of the Company’s shareholders,
reduce the Exercise Price of any outstanding Award, on terms and subject to such conditions as it deems advisable. The Exercise Price
shall also be subject to adjustment as provided in Section 14 hereof. The Exercise Price of any Award granted to a Grantee who is subject
to U.S. federal income tax shall be determined in accordance with Section 409A of the Code.

 

6.4. Manner
of Exercise. 

 

6.4.1 An
Award may be exercised, as to any or all Shares as to which the Award has become exercisable, (a) by written notice delivered in person
or by mail (or such other methods of delivery prescribed by the Company) to the Stock Administrator/Manager of the Company or, if no
such role is then incumbent, to the Chief Financial Officer of the Company or to such other person as determined by the Committee, (b)
by way of an exercise order submitted via the online service operated and maintained by the Company or any of its service providers,
or (c) or in any other manner as the Committee shall prescribe from time to time, specifying the number of Shares with respect to which
the Award 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
specified in the following sentence. The Exercise Price shall be paid in full with respect to each Share, at the time of exercise and
as a condition therefor, either (i) in cash, (ii) if the Company’s shares are listed for trading on any securities exchange or
over-the-counter market, and if the Committee so determines, all or part of the Exercise Price and any withholding taxes may be paid
by the delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell
Shares and to deliver all or part of the sales proceeds to the Company or the Trustee, (iii) if the Company’s shares are listed
for trading on any securities exchange or over-the-counter market, and if the Committee so determines, all or part of the Exercise Price
and any withholding taxes may be paid by the delivery (on a form prescribed by the Company) of an irrevocable direction to pledge Shares
to a securities broker or lender approved by the Company, as security for a loan, and to deliver all or part of the loan
proceeds to the Company or the Trustee, (iv) by applying the Cashless Exercise Mechanism set forth in Section 6.4.3 below, or (v) in
such other manner as the Committee shall determine, which may include procedures for cashless exercise. 

 

    9

     

    

 

6.4.2 The
application of Cashless Exercise Mechanism with respect to any 102 Awards shall be subject to obtaining a ruling from the ITA, to the
extent required by Applicable Law.

 

6.4.3 Unless
otherwise determined by the Committee, any and all Options (other than Incentive Stock Options) may be exercised using a cashless exercise
mechanism, in which case the number of the Shares to be issued by the Company upon such exercise shall be calculated pursuant to the
following formula (the “Cashless Exercise Mechanism”):

 

X
= Y * (A – B)

A

 

		Where:	X = 	the number of Shares to be issued to the Grantee.

 

		Y
                                            =	the
                                            number of Shares, as adjusted to the date of such calculation, underlying the number of Options
                                            being exercised.

 

		A
                                            =	the
                                            fair market value, as determined in the tax ruling mentioned in Section 6.4.2 above, of one
                                            Share at the exercise date.

 

		B
                                            =	the
                                            Exercise Price of the Options being exercised.

 

Upon
the completion of the calculation, if X is a negative number, then X shall be deemed to equal 0 (zero).

 

6.5. Term
and Vesting of Awards.

 

6.5.1 Each
Award Agreement shall provide the vesting schedule for the Award as determined by the Committee. The Committee shall have the authority
to determine the vesting schedule and accelerate the vesting of any outstanding Award at such time and under such circumstances as it,
in its sole discretion, deems appropriate. Unless otherwise resolved by the Committee and stated in the Award Agreement, and subject
to Sections 6.6 and 6.7 hereof, Awards shall vest and become exercisable under the following schedule: twenty-five percent (25%) of the
Shares covered by the Award, on the first anniversary of the vesting commencement date determined by the Committee (and in the absence
of such determination, of date on which such Award was granted), and six and one-quarter percent (6.25%) of the Shares covered by the
Award at the end of each subsequent three-month period thereafter over the course of the following three (3) years; provided that the
Grantee remains continuously as a Service Provider of the Company or its Affiliates throughout such vesting dates.

 

6.5.2 The
Award Agreement may contain performance goals and measurements (which, in case of 102 Trustee Awards, may, if then required, be subject
to obtaining a specific tax ruling or determination from the ITA), and the provisions with respect to any Award need not be the same
as the provisions with respect to any other Award. Such performance goals may include, but are not limited to, revenues, sales, operating
income, earnings before interest and taxes, return on investment, earnings per share, any combination of the foregoing or rate of growth
of any of the foregoing, as determined by the Committee. The Committee may adjust performance goals pursuant to Awards previously granted
to take into account changes in law and accounting and tax rules and to make such adjustments as the Committee deems necessary or appropriate
to reflect the inclusion or the exclusion of the impact of extraordinary or unusual items, events or circumstances.

 

6.5.3 The
Exercise Period of an Award will be ten (10) years from the date of grant of the Award, unless otherwise determined by the Committee
and stated in the Award Agreement, but subject to the vesting provisions described above and the early termination provisions set forth
in Sections 6.6 and 6.7 hereof. At the expiration of the Exercise Period, any Award, or any part thereof, that has not been exercised
within the term of the Award and the Shares covered thereby not paid for in accordance with this Plan and the Award Agreement shall terminate
and become null and void, and all interests and rights of the Grantee in and to the same shall expire.

 

    10

     

    

 

6.6. Termination.

 

6.6.1 Unless
otherwise determined by the Committee, and subject to this Section 6.6 and Section 6.7 hereof, an Award
may not be exercised unless the Grantee was, since the date of grant of the Award throughout the vesting dates, and is then (at the time
of exercise), a Service Provider.

 

6.6.2 In
the event that the employment or service of a Grantee shall terminate (other than by reason of death, Disability or Retirement), such
that Grantee is no longer a Service Provider, all Awards of such Grantee that are unvested at the time of such termination shall terminate
on the date of such termination, and all Awards of such Grantee that are vested and exercisable at the time of such termination may be
exercised within up to three (3) months after the date of such termination (or such different period as the Committee shall prescribe,
in general or on a case-by-case basis), but in any event no later than the date of expiration of the Award’s term as set forth
in the Award Agreement or pursuant to this Plan; provided, however, that if the Company (or its Subsidiary or other Affiliate
thereof, as applicable) shall have terminated the Grantee’s employment or service for Cause (as defined below) (whether the facts
or circumstances that constitute such Cause occur prior to or after termination of employment or service), or if facts or circumstances
arise or are discovered with respect to the Grantee that would have constituted Cause, then all Awards theretofore granted to such Grantee
(whether vested or not) shall terminate and be subject to recoupment by the Company on the date of such termination (or on such subsequent
date on which such facts or circumstances arise or are discovered, as the case may be) unless otherwise determined by the Committee,
and any Shares issued upon exercise or (if applicable) vesting of Awards (including other Shares or securities issued or distributed
with respect thereto, and including the gross amount of any proceeds, gains or other economic benefit the Grantee actually or constructively
receives upon receipt or exercise of any Award or the receipt or resale of any Shares underlying the Award), whether held by the Grantee
or by the Trustee for the Grantee’s benefit, shall be deemed to be irrevocably offered for sale to the Company, any of its Affiliates
or any person designated by the Company to purchase, at the Company’s election and subject to Applicable Law, either for no consideration,
for the par value of such Shares (if such Shares bear a par value) or against payment of the Exercise Price previously received by the
Company for such Shares upon their issuance, as the Committee deems fit, upon written notice to the Grantee at any time prior to, at
or after the Grantee’s termination of employment or service. Such Shares or other securities shall be sold and transferred within
30 days from the date of the Company’s notice of its election to exercise its right. If the Grantee fails to transfer such Shares
or other securities to the Company, the Company, at the decision of the Committee, shall be entitled to forfeit or repurchase such Shares
and to authorize any person to execute on behalf of the Grantee any document necessary to effect such transfer, whether or not the share
certificates are surrendered. The Company shall have the right and authority to effect the above either by: (i) repurchasing all of such
Shares or other securities held by the Grantee or by the Trustee for the benefit of the Grantee, or designate the purchaser of all or
any part of such Shares or other securities, for the Exercise Price paid for such Shares, the par value of such Shares (if such Shares
bear a par value) or for no payment or consideration whatsoever, as the Committee deems fit; (ii) forfeiting
all or any part of such Shares or other securities; (iii) redeeming all or any part of such Shares or other securities, for the Exercise
Price paid for such Shares, the par value of such Shares (if such Shares bear a par value) or for no payment or consideration whatsoever,
as the Committee deems fit; (iv) taking action in order to have all or any part of such Shares or other securities converted into deferred
shares entitling their holder only to their par value (if such Shares bear a par value) upon liquidation of the Company; or (v) taking
any other action which may be required in order to achieve similar results; all as shall be determined by the Committee, at its sole
and absolute discretion, and the Grantee is deemed to irrevocably empower the Company or any person which may be designated by it to
take any action by, in the name of or on behalf of the Grantee to comply with and give effect to such actions (including, voting such
shares, filling in, signing and delivering share transfer deeds, etc.). 

 

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6.6.3 Notwithstanding
anything to the contrary, the Committee, in its absolute discretion, may, on such terms and conditions as it may determine appropriate,
extend the periods for which Awards held by any Grantee may continue to vest and be exercisable; it being clarified that such Awards
may lose their entitlement to certain tax benefits under Applicable Law (including, without limitation, qualification of an Award as
an Incentive Stock Option) as a result of the modification of such Awards and/or in the event that the Award is exercised beyond the
later of: (i) three (3) months after the date of termination of the employment or service relationship; or (ii) the applicable period
under Section 6.7 below with respect to a termination of the employment or service relationship because of the death, Disability or Retirement
of Grantee.

 

6.6.4 For
purposes of this Plan:

 

6.6.4.1. A
termination of employment or service relationship of a Grantee shall not be deemed to occur (except to the extent required by the Code
with respect to the Incentive Stock Option status of an Option) in case of (i) a transition or transfer of a Grantee among the Company
and its Affiliates, (ii) a change in the capacity in which the Grantee is employed or renders service to the Company or any of its Affiliates
or a change in the identity of the employing or engagement entity among the Company and its Affiliates, provided, in case of the
foregoing clauses (i) and (ii) above, that the Grantee has remained continuously employed by and/or in the service of the Company and
its Affiliates since the date of grant of the Award and throughout the vesting period; or (iii) if the Grantee takes any unpaid leave
as set forth in Section 6.8 below.

 

6.6.4.2. An
entity or an Affiliate thereof assuming an Award or issuing in substitution thereof in a transaction to which Section 424(a) of the Code
applies or in a Merger/Sale in accordance with Section 14 shall be deemed as an Affiliate of the Company for purposes of this Section
6.6, unless the Committee determines otherwise.

 

6.6.4.3. In
the case of a Grantee whose principal employer or service recipient is a Subsidiary or other Affiliate thereof, the Grantee’s employment
or service relationship shall also be deemed terminated for purposes of this Section 6.6 as of the date on which such principal employer
or service recipient ceases to be a Subsidiary or other Affiliate thereof. 

 

6.6.4.4. The
term “Cause” shall mean (irrespective of, and in addition to, any definition included in any other agreement or instrument
applicable to the Grantee, and unless otherwise determined by the Committee) any of the following: (i) any theft, fraud, embezzlement,
dishonesty, willful misconduct, breach of fiduciary duty for personal profit, falsification of any documents or records of the Company
or any of its Affiliates, felony or similar act by the Grantee (whether or not related to the Grantee’s relationship with the Company);
(ii) an act of moral turpitude by the Grantee, or any act that causes significant injury to, or is otherwise adversely affecting, the
reputation, business, assets, operations or business relationship of the Company (or a Subsidiary or other Affiliate thereof, when applicable);
(iii) any breach by the Grantee of any material agreement with or of any material duty of the Grantee to the Company or any Subsidiary
or other Affiliate thereof (including breach of confidentiality, non-disclosure, non-use non-competition or non-solicitation covenants
towards the Company or any of its Affiliates) or failure to abide by code of conduct or other policies (including, without limitation,
policies relating to confidentiality and reasonable workplace conduct); (iv) any act which constitutes a breach of a Grantee’s
fiduciary duty towards the Company or a Subsidiary or other Affiliate thereof, including disclosure of confidential or proprietary information
thereof or acceptance or solicitation to receive unauthorized or undisclosed benefits, irrespective of their nature, or funds, or promises
to receive either, from individuals, consultants or corporate entities with whom the Company or a Subsidiary or other Affiliate thereof
conducts business; (v) the Grantee’s unauthorized use, misappropriation, destruction, or diversion of any tangible or intangible
asset or corporate opportunity of the Company or any of its Affiliates (including, without limitation, the improper use or disclosure
of confidential or proprietary information); or (vi) any circumstances that constitute grounds for termination for cause under the Grantee’s
employment or service agreement with the Company or Affiliate, to the extent applicable. For the avoidance of doubt, the determination
as to whether a termination is for Cause for purposes of this Plan, shall be made in good faith by the Committee and shall be final and
binding on the Grantee.

 

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6.7. Death,
Disability or Retirement of Grantee.

 

6.7.1 If
a Grantee shall die while employed by, or performing service for, the Company or any of its Affiliates,
or within the three (3) month period (or such longer period of time as determined by the Board, in its discretion) after
the date of termination of such Grantee’s employment or service (or within such different
period as the Committee may have provided pursuant to Section 6.6 hereof), or if the Grantee’s
employment or service with the Company or any of its Affiliates shall terminate by reason of Disability,
all Awards theretofore granted to such Grantee may (to the extent otherwise vested and exercisable
and unless earlier terminated in accordance with their terms) be exercised by the Grantee or by
the Grantee’s estate or by a person who acquired the legal right to exercise such Awards by bequest or inheritance, or by a person
who acquired the legal right to exercise such Awards in accordance with applicable law in the case of Disability of the Grantee, as the
case may be, at any time within one (1) year (or such longer period of time as determined by the Committee, in its discretion)
after the death or Disability of the Grantee (or such different period as the Committee shall prescribe),
but in any event no later than the date of expiration of the Award’s term as set forth in the Award Agreement or pursuant
to this Plan. In the event that an Award granted hereunder shall be exercised as set forth above by any
person other than the Grantee, written notice of such exercise shall be accompanied by a certified copy of letters testamentary or proof
satisfactory to the Committee of the right of such person to exercise such Award.

 

6.7.2 In
the event that the employment or service of a Grantee shall terminate on account of such Grantee’s Retirement, all Awards of such
Grantee that are exercisable at the time of such Retirement may, unless earlier terminated in accordance with their terms, be exercised
at any time within the three (3) month period after the date of such Retirement (or such different period as the Committee shall prescribe).

 

6.8. Suspension
of Vesting. Unless the Committee provides otherwise, vesting of Awards granted hereunder shall be suspended during any unpaid leave
of absence, other than in the case of any (i) leave of absence which was pre-approved by the Company explicitly for purposes of continuing
the vesting of Awards, or (ii) transfers between locations of the Company or any of its Affiliates, or between the Company and any of
its Affiliates, or any respective successor thereof. For clarity, for purposes of this Plan, military leave, statutory maternity or paternity
leave or sick leave are not deemed unpaid leave of absence, unless otherwise determined by the Committee.

 

6.9. Securities
Law Restrictions. Except as otherwise provided in the applicable Award Agreement or other agreement between the Service Provider
and the Company, if the exercise of an Award following the termination of the Service Provider’s employment or service (other than
for Cause) would be prohibited at any time solely because the issuance of Shares would violate the registration requirements under the
Securities Act or equivalent requirements under equivalent laws of other applicable jurisdictions, then the Award shall remain exercisable
and terminate on the earlier of (i) the expiration of a period of three (3) months (or such longer period of time as determined by the
Committee, in its discretion) after the termination of the Service Provider’s employment or service during which the exercise of
the Award would not be in such violation, or (ii) the expiration of the term of the Award as set forth
in the Award Agreement or pursuant to this Plan. In addition, unless otherwise provided in a Grantee’s Award Agreement, if the
sale of any Shares received upon exercise or (if applicable) vesting of an Award following the termination of the Grantee’s employment
or service (other than for Cause) would violate the Company’s insider trading policy, then the Award shall terminate on the earlier
of (i) the expiration of a period equal to the applicable post-termination exercise period after the termination of the Grantee’s
employment or service during which the exercise of the Award would not be in violation of the Company’s insider trading policy,
or (ii) the expiration of the term of the Award as set forth in the applicable Award Agreement or pursuant to this Plan.

 

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6.10. Other
Provisions. The Award Agreement evidencing Awards under this Plan shall contain such other terms and conditions not inconsistent
with this Plan as the Committee may determine, at or after the date of grant, including provisions in connection with the restrictions
on transferring the Awards or Shares covered by such Awards, which shall be binding upon the Grantees and any purchaser, assignee or
transferee of any Awards, and other terms and conditions as the Committee shall deem appropriate.

 

7. NONQUALIFIED
STOCK OPTIONS.

 

Awards
granted pursuant to this Section 7 are intended to constitute Nonqualified Stock Options and shall be subject to the general terms and
conditions specified in Section 6 hereof and other provisions of this Plan, except for any provisions of this Plan applying to Awards
under different tax laws or regulations. In the event of any inconsistency or contradictions between the provisions of this Section 7
and the other terms of this Plan, this Section 7 shall prevail.

 

7.1. Certain
Limitations on Eligibility for Nonqualified Stock Options. Nonqualified Stock Options may not be granted to a Service Provider who
is deemed to be a resident of the United States for purposes of taxation or who is otherwise subject to United States federal income
tax unless the Shares underlying such Options constitute “service recipient stock” under Section 409A of the Code or unless
such Options comply with the payment requirements of Section 409A of the Code.

 

7.2. Exercise
Price. The Exercise Price of a Nonqualified Stock Option shall not be less than 100% of the Fair Market Value of a Share on the date
of grant of such Option unless the Committee specifically indicates that the Awards will have a lower Exercise Price and the Award complies
with Section 409A of the Code. Notwithstanding the foregoing, a Nonqualified Stock Option may be granted with an exercise price lower
than the minimum exercise price set forth above if such Award is granted pursuant to an assumption or substitution for another option
in a manner qualifying under the provisions of that complies with Section 424(a) of the Code 1.409A-1(b)(5)(v)(D) of the U.S. Treasury
Regulations or any successor guidance.

 

8. INCENTIVE
STOCK OPTIONS.

 

Awards
granted pursuant to this Section 8 are intended to constitute Incentive Stock Options and shall be granted subject to the following special
terms and conditions, the general terms and conditions specified in Section 6 hereof and other provisions of this Plan, except for any
provisions of this Plan applying to Awards under different tax laws or regulations. In the event of any inconsistency or contradictions
between the provisions of this Section 8 and the other terms of this Plan, this Section 8 shall prevail. However, if for any reason any
Award granted pursuant to this Section ‎8 (or portion thereof) does not qualify as an Incentive Stock Option, then, to the extent
of such non-qualification, such Option (or portion thereof) shall be regarded as a Nonqualified Stock Option granted under this Plan.
In no event will the Board, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability
to Grantee (or any other person) due to the failure of the Option to qualify for any reason as an Incentive Stock Option.

 

8.1. Eligibility
for Incentive Stock Options. Incentive Stock Options may be granted only to Employees of the Company, or to Employees of a Parent
or Subsidiary, determined as of the date of grant of such Options. An Incentive Stock Option granted to a prospective Employee upon the
condition that such person become an Employee shall be deemed granted effective on the date such person commences employment, with an
exercise price determined as of such date in accordance with Section 8.2.

 

8.2. Exercise
Price. The Exercise Price of an Incentive Stock Option shall not be less than one hundred percent (100%) of the Fair Market Value
of the Shares covered by the Awards on the date of grant of such Option or such other price as may be determined pursuant to the Code.
Notwithstanding the foregoing, an Incentive Stock Option may be granted with an exercise price lower than the minimum exercise price
set forth above if such Award is granted pursuant to an assumption or substitution for another option in a manner that complies with
the provisions of Section 424(a) of the Code.

 

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8.3. Date
of Grant. Notwithstanding any other provision of this Plan to the contrary, no Incentive Stock Option may be granted under this Plan
after 10 years from the date this Plan is adopted, or the date this Plan is approved by the shareholders, whichever is earlier.

 

8.4. Exercise
Period. No Incentive Stock Option shall be exercisable after the expiration of ten (10) years after the effective date of grant of
such Award, subject to Section 8.6. No Incentive Stock Option granted to a prospective Employee may become exercisable prior to the date
on which such person commences employment.

 

8.5. $100,000
Per Year Limitation. The aggregate Fair Market Value (determined as of the date the Incentive Stock Option is granted) of the Shares
with respect to which all Incentive Stock Options granted under this Plan and all other “incentive stock option” plans of
the Company, or of any Parent or Subsidiary, become exercisable for the first time by each Grantee during any calendar year shall not
exceed one hundred thousand United States dollars ($100,000) with respect to such Grantee. To the extent that the aggregate Fair Market
Value of Shares with respect to which such Incentive Stock Options and any other such incentive stock options are exercisable for the
first time by any Grantee during any calendar year exceeds one hundred thousand United States dollars ($100,000), such options shall
be treated as Nonqualified Stock Options. The foregoing shall be applied by taking options into account in the order in which they were
granted. If the Code is amended to provide for a different limitation from that set forth in this Section 8.5, such different limitation
shall be deemed incorporated herein effective as of the date and with respect to such Awards as required or permitted by such amendment
to the Code. If an Option is treated as an Incentive Stock Option in part and as a Nonqualified Stock Option in part
by reason of the limitation set forth in this Section 8.5, the Grantee may designate which portion of such Option the Grantee is exercising.
In the absence of such designation, the Grantee shall be deemed to have exercised the Incentive Stock Option portion of the Option first.
Separate certificates representing each such portion may be issued upon the exercise of the Option.

 

8.6. Ten
Percent Shareholder. In the case of an Incentive Stock Option granted to a Ten Percent Shareholder, notwithstanding the foregoing
provisions of this Section 8, (i) the Exercise Price shall not be less than one hundred and ten percent (110%) of the Fair Market Value
of a Share on the date of grant of such Incentive Stock Option, and (ii) the Exercise Period shall not exceed five (5) years from the
effective date of grant of such Incentive Stock Option.

 

8.7. Payment
of Exercise Price. Each Award Agreement evidencing an Incentive Stock Option shall state each alternative method by which the Exercise
Price thereof may be paid.

 

8.8. Leave
of Absence. Notwithstanding Section 6.8, a Grantee’s employment shall not be deemed to have terminated if the Grantee takes
any leave as set forth in Section 6.8(i) or as otherwise permitted by the Administrator.

 

8.9. Exercise
Following Termination. Notwithstanding anything else in this Plan to the contrary, Incentive Stock Options that are not exercised
within three (3) months following termination of the Grantee’s employment with the Company or its Parent or Subsidiary or with
a corporation (or a parent or subsidiary of such corporation) issuing or assuming an Option of such Grantee in a transaction to which
Section 424(a) of the Code applies, or within one (1) year in case of termination of the Grantee’s employment with the Company
or its Parent or Subsidiary due to a Disability (within the meaning of Section 22(e)(3) of the Code), shall be deemed to be Nonqualified
Stock Options.

 

8.10. Notice
to Company of Disqualifying Disposition. Each Grantee who receives an Incentive Stock Option must agree to notify the Company in
writing immediately after the Grantee makes a Disqualifying Disposition of any Shares received pursuant to the exercise of Incentive
Stock Options. A “Disqualifying Disposition” is any disposition (including any sale) of such Shares before the later
of (i) two years after the date the Grantee was granted the Incentive Stock Option, or (ii) one year after the date the Grantee acquired
Shares by exercising the Incentive Stock Option. If the Grantee dies before such Shares are sold, these holding period requirements do
not apply and no disposition of the Shares will be deemed a Disqualifying Disposition.

 

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9. 102
AWARDS.

 

Awards
granted pursuant to this Section 9 are intended to constitute 102 Awards and shall be granted subject to the following special terms
and conditions, the general terms and conditions specified in Section 6 hereof and other provisions of this Plan, except for any provisions
of this Plan applying to Awards under different tax laws or regulations. In the event of any inconsistency or contradictions between
the provisions of this Section 9 and the other terms of this Plan, this Section 9 shall prevail.

 

9.1. Tracks.
Awards granted pursuant to this Section 9 are intended to be granted pursuant to Section 102 of the Ordinance pursuant to either (i)
Section 102(b)(2) or (3) thereof (as applicable), under the capital gain track (“102 Capital Gain Track Awards”),
or (ii) Section 102(b)(1) thereof under the ordinary income track (“102 Ordinary Income Track
Awards”, and together with 102 Capital Gain Track Awards, “102 Trustee Awards”). 102 Trustee Awards shall
be granted subject to the special terms and conditions contained in this Section 9, the general terms and conditions specified in Section
6 hereof and other provisions of this Plan, except for any provisions of this Plan applying to Options under different tax laws or regulations.

 

9.2. Election
of Track. Subject to Applicable Law, the Company may grant only one type of 102 Trustee Awards at any given time to all Grantees
who are to be granted 102 Trustee Awards pursuant to this Plan, and shall file an election with the ITA regarding the type of 102 Trustee
Awards it elects to grant before the date of grant of any 102 Trustee Awards (the “Election”). Such Election shall
also apply to any other securities, including bonus shares, received by any Grantee as a result of holding the 102 Trustee Awards. The
Company may change the type of 102 Trustee Awards that it elects to grant only after the expiration of at least 12 months from the end
of the year in which the first grant was made in accordance with the previous Election, or as otherwise provided by Applicable Law. Any
Election shall not prevent the Company from granting Awards, pursuant to Section 102(c) of the Ordinance without a Trustee (“102
Non-Trustee Awards”).

 

9.3. Eligibility
for Awards.

 

9.3.1 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 of the adoption of this Plan 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.

 

9.4. 102
Award Grant Date.

 

9.4.1 Each
102 Award will be deemed granted on the date determined by the Committee, subject to Section 9.4.2, 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 Award, the Company
has provided all applicable documents to the Trustee in accordance with the guidelines published by the ITA, and if an agreement is not
signed and delivered by the Grantee within 90 days from the date determined by the Committee (subject to Section 9.4.2), then such 102
Trustee Award shall be deemed granted on such later date as such 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 any
corporate resolution or Award Agreement.

 

9.4.2 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 any Award 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. 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 any corporate resolution or Award Agreement.

 

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9.5. 102
Trustee Awards.

 

9.5.1 Each
102 Trustee Award, each Share issued pursuant to the exercise of any 102 Trustee Award, and any rights granted thereunder, including
bonus shares, shall be issued to and registered in the name of the Trustee and shall be held in trust for the benefit of the Grantee
for the requisite period prescribed by the Ordinance (the “Required Holding Period”). In the event that the requirements
under Section 102 of the Ordinance to qualify an Award as a 102 Trustee Award are not met, then the Award may be treated as a 102 Non-Trustee
Award or 3(9) Award, all in accordance with the provisions of the Ordinance. After expiration of the Required Holding Period, the Trustee
may release such 102 Trustee Awards and any such Shares, provided that (i) the Trustee has received an acknowledgment from the
ITA that the Grantee has paid any applicable taxes due pursuant to the Ordinance, or (ii) the Trustee and/or the Company and/or the Employer
withholds all applicable taxes and compulsory payments due pursuant to the Ordinance arising from the 102 Trustee Awards and/or any Shares
issued upon exercise or (if applicable) vesting of such 102 Trustee Awards. The Trustee shall not release any 102 Trustee Awards or Shares
issued upon exercise or (if applicable) vesting thereof prior to the payment in full of the Grantee’s tax and compulsory payments
arising from such 102 Trustee Awards and/or Shares or the withholding referred to in (ii) above.

 

9.5.2 Each
102 Trustee Award shall be subject to the relevant terms of the Ordinance, the Rules and any determinations, rulings or approvals issued
by the ITA, which shall be deemed an integral part of the 102 Trustee Awards and shall prevail over any term contained in this Plan or
Award Agreement that is not consistent therewith. Any provision of the Ordinance, the Rules and any determinations, rulings or approvals
by the ITA not expressly specified in this Plan or Award Agreement that are necessary to receive or maintain any tax benefit pursuant
to Section 102 of the Ordinance shall be binding on the Grantee. Any Grantee granted a 102 Trustee Awards shall comply with the Ordinance
and the terms and conditions of the trust agreement entered into between the Company and the Trustee. The Grantee shall execute any and
all documents that the Company and/or its Affiliates and/or the Trustee determine from time to time to
be necessary in order to comply with the Ordinance and the Rules.

 

9.5.3 During
the Required Holding Period, the Grantee shall not release from trust or sell, assign, transfer or give as collateral, the Shares issuable
upon the exercise or (if applicable) vesting of a 102 Trustee Awards and/or any securities issued or distributed with respect thereto,
until the expiration of the Required Holding Period. Notwithstanding the above, if any such sale, release or other action occurs during
the Required Holding Period it may result in adverse tax consequences to the Grantee under Section 102 of the Ordinance and the Rules,
which shall apply to and shall be borne solely by such Grantee. Subject to the foregoing, the Trustee may, pursuant to a written request
from the Grantee, but subject to the terms of this Plan, release and transfer such Shares to a designated third party, provided
that both of the following conditions have been fulfilled prior to such release or transfer: (i) payment has been made to the ITA of
all taxes and compulsory payments required to be paid upon the release and transfer of the Shares, and confirmation of such payment has
been received by the Trustee and the Company, and (ii) the Trustee has received written confirmation from the Company that all requirements
for such release and transfer have been fulfilled according to the terms of the Company’s corporate documents, any agreement governing
the Shares, this Plan, the Award Agreement and any Applicable Law.

 

9.5.4 If
a 102 Trustee Award is exercised or (if applicable) vested, the Shares issued upon such exercise or (if applicable) vesting shall be
issued in the name of the Trustee for the benefit of the Grantee.

 

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9.5.5 Upon
or after receipt of a 102 Trustee Award, if required, the Grantee may be required to sign an undertaking to release the Trustee from
any liability with respect to any action or decision duly taken and executed in good faith by the Trustee in relation to this Plan, or
any 102 Trustee Awards or Share granted to such Grantee thereunder.

 

9.6. 102
Non-Trustee Awards. The foregoing provisions of this Section 9 relating to 102 Trustee Awards shall not apply with respect to 102
Non-Trustee Awards, which shall, however, be subject to the relevant provisions of Section 102 of the Ordinance and the applicable Rules.
The Committee may determine that 102 Non-Trustee Awards, the Shares issuable upon the exercise or (if applicable) vesting of a 102 Non-Trustee
Awards and/or any securities issued or distributed with respect thereto, shall be allocated or issued to the Trustee, who shall hold
such 102 Non-Trustee Awards and all accrued rights thereon (if any), in trust for the benefit of the Grantee and/or the Company, as the
case may be, until the full payment of tax arising from the 102 Non-Trustee Awards, the Shares issuable upon the exercise or (if applicable)
vesting of a 102 Non-Trustee Awards and/or any securities issued or distributed with respect thereto. The Company may choose, alternatively,
to force the Grantee to provide it with a guarantee or other security, to the satisfaction of each of the Trustee and the Company, until
the full payment of the applicable taxes.

 

9.7. Written
Grantee Undertaking. To the extent and with respect to any 102 Trustee Award, and as required by Section 102 of the Ordinance and
the Rules, by virtue of the receipt of such Award, the Grantee is deemed to have provided, undertaken and confirmed the following written
undertaking (and such undertaking is deemed incorporated into any documents signed by the Grantee in
connection with the employment or service of the Grantee and/or the grant of such Award), which undertaking shall be deemed to apply
and relate to all 102 Trustee 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.

 

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

 

9.7.2 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” or the “Ordinary Income Track” in particular, and its tax consequences; the Grantee agrees
that the 102 Trustee Awards and Shares that may be issued upon exercise or (if applicable) vesting of the 102 Trustee Awards (or otherwise
in relation to the 102 Trustee Awards), will be held by the Trustee appointed pursuant to Section 102 of the Ordinance for at least the
duration of the “Holding Period” (as such term is defined in Section 102) under the “Capital Gain Track” or the
“Ordinary Income Track”, as applicable. The Grantee understands that any release of such 102 Trustee Awards or Shares from
trust, or any sale of the Share prior to the termination of the Holding Period, as defined above, will result in taxation at marginal
tax rate, in addition to deductions of appropriate social security, health tax contributions or other compulsory payments; and

 

9.7.3 The
Grantee agrees to the trust agreement signed between the Company, the Employer and the Trustee appointed pursuant to Section 102 of the
Ordinance.

 

10. 3(i)
AWARDS.

 

Awards
granted pursuant to this Section 10 are intended to constitute 3(i) Awards and shall be granted subject to the general terms and conditions
specified in Section 6 hereof and other provisions of this Plan, except for any provisions of this Plan applying to Awards under different
tax laws or regulations. In the event of any inconsistency or contradictions between the provisions of this Section 10 and the other
terms of this Plan, this Section 10 shall prevail.

 

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10.1. To
the extent required by the Ordinance or the ITA or otherwise deemed by the Committee to be advisable, the 3(i) Awards and/or any shares
or other securities issued or distributed with respect thereto granted pursuant to this Plan shall be issued to the Grantee and shall
be supervised by a Trustee nominated by the Committee in accordance with the provisions of the Ordinance or the terms of a trust agreement,
as applicable. In such event, the Trustee shall hold such Awards and or other securities issued or distributed with respect thereto in
trust, until exercised or (if applicable) vested by the Grantee and the full payment of tax arising therefrom, pursuant to the Company’s
instructions from time to time as set forth in a trust agreement, which will have been entered into between the Company and the Trustee.
If determined by the Board or the Committee, and subject to such trust agreement, the Trustee shall be responsible for withholding any
taxes to which a Grantee may become liable upon issuance of Shares, whether due to the exercise or (if applicable) vesting of Awards.

 

10.2. Shares
pursuant to a 3(I) Award shall not be issued, unless the Grantee delivers to the Company payment in cash or by bank check or such other
form acceptable to the Committee of all withholding taxes due, if any, on account of the Grantee acquired Shares under the Award or gives
other assurance satisfactory to the Committee of the payment of those withholding taxes.

 

11. RESTRICTED
SHARES.

 

The
Committee may award Restricted Shares to any eligible Grantee, including under Section 102 of the Ordinance. Each Award of Restricted
Shares under this Plan shall be evidenced by a written agreement between the Company and the Grantee (the “Restricted Share
Agreement”), in such form as the Committee shall from time to time approve. The Restricted Shares shall be subject to all applicable
terms of this Plan, which in the case of Restricted Shares granted under Section 102 of the Ordinance shall include Section 9 hereof,
and may be subject to any other terms that are not inconsistent with this Plan. The provisions of the various Restricted Shares Agreements
entered into under this Plan need not be identical with respect to any two Awards or Grantees. The Restricted Share Agreement shall comply
with and be subject to Section 6 and the following terms and conditions, unless otherwise specifically provided in such Agreement and
not inconsistent with this Plan or Applicable Law:

 

11.1. Purchase
Price. Section 6.4 shall not apply. Each Restricted Share Agreement shall state an amount of Exercise Price to be paid by the Grantee,
if any, in consideration for the issuance of the Restricted Shares and the terms of payment thereof, which may include payment in cash
or, subject to the Committee’s approval, by issuance of promissory notes or other evidence of indebtedness on such terms and conditions
as determined by the Committee.

 

11.2. Restrictions.
Restricted Shares may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, except by will or the laws
of descent and distribution (in which case they shall be transferred subject to all restrictions then or thereafter applicable thereto),
until such Restricted Shares shall have vested (the period from the date on which the Award is granted until the date of vesting of the
Restricted Shares thereunder being referred to herein as the “Restricted Period”). The Committee may also impose such
additional or alternative restrictions and conditions on the Restricted Shares, as it deems appropriate, including the satisfaction of
performance criteria (which, in case of 102 Trustee Awards, may be subject to obtaining a specific tax ruling or determination from the
ITA). Such performance criteria may include, but are not limited to, sales, earnings before interest and taxes, return on investment,
earnings per share, any combination of the foregoing or rate of growth of any of the foregoing, as determined by the Committee or pursuant
to the provisions of any Company policy required under mandatory provisions of Applicable Law. Certificates for shares issued pursuant
to Restricted Share Awards, if issued, shall bear an appropriate legend referring to such restrictions, and any attempt to dispose of
any such shares in contravention of such restrictions shall be null and void and without effect. Such certificates may, if so determined
by the Committee, be held in escrow by an escrow agent appointed by the Committee, or, if a Restricted Share Award is made pursuant to
Section 102 of the Ordinance, by the Trustee. In determining the Restricted Period of an Award the Committee may provide that the foregoing
restrictions shall lapse with respect to specified percentages of the awarded Restricted Shares on successive anniversaries of the date
of such Award. To the extent required by the Ordinance or the ITA, the Restricted Shares issued pursuant to Section 102 of the Ordinance
shall be issued to the Trustee in accordance with the provisions of the Ordinance and the Restricted Shares shall be held for the benefit
of the Grantee for at least the Required Holding Period.

 

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11.3. Forfeiture;
Repurchase. Subject to such exceptions as may be determined by the Committee, if the Grantee’s continuous employment with or
service to the Company or any Affiliate thereof shall terminate (such that Grantee is no longer a Service Provider of either the Company
or any Affiliate thereof) for any reason prior to the expiration of the Restricted Period of an Award or prior to the timely payment
in full of the Exercise Price of any Restricted Shares, any Restricted Shares remaining subject to vesting or with respect to which the
purchase price has not been paid in full, shall thereupon be forfeited, transferred to, and redeemed, repurchased or cancelled by, as
the case may be, in any manner as set forth in Section 6.6.2(i) through (v), subject to Applicable Law and the Grantee shall have no
further rights with respect to such Restricted Shares.

 

11.4. Ownership.
During the Restricted Period the Grantee shall possess all incidents of ownership of such Restricted Shares, subject to Section 6.10
and Section 11.2, including the right to vote and receive dividends with respect to such Shares. All securities, if any, received by
a Grantee with respect to Restricted Shares as a result of any stock split, stock dividend, combination of shares, or other similar transaction
shall be subject to the restrictions applicable to the original Award. Notwithstanding anything to the contrary herein, dividends which
are paid to the Company’s shareholders prior to the vesting date of any Restricted Shares shall only be paid to the Grantee of
such Restricted Shares to the extent the vesting conditions applicable to such Restricted Shares are subsequently satisfied (and any
such dividends will be paid no later than March 15 of the calendar year following the calendar year in which the right to the dividend
payment becomes nonforfeitable)).

 

12. RESTRICTED
SHARE UNITS.

 

An
RSU is an Award covering a number of Shares that is settled, if vested and (if applicable) exercised, by issuance of those Shares or,
in the discretion of the Committee, an amount of cash equal to the aggregate Fair Market Value of the Shares underlying the Award (other
than with respect to 102 Trustee Awards). An RSU may be awarded to any eligible Grantee, including under Section 102 of the Ordinance.
The Award Agreement relating to the grant of RSUs under this Plan (the “Restricted Share Unit Agreement”), shall be
in such form as the Committee shall from time to time approve. The RSUs shall be subject to all applicable terms of this Plan, which
in the case of RSUs granted under Section 102 of the Ordinance shall include Section 9 hereof, and may be subject to any other terms
that are not inconsistent with this Plan. The provisions of the various Restricted Share Unit Agreements entered into under this Plan
need not be identical. RSUs may be granted in consideration of a reduction in the recipient’s other compensation.

 

12.1. Exercise
Price. No payment of Exercise Price shall be required as consideration for RSUs, unless included in the Award Agreement or as required
by Applicable Law (including, Section 304 of the Companies Law), and Section 6.4 shall apply, if applicable.

 

12.2. Shareholders’
Rights. The Grantee shall not possess or own any ownership rights in the Shares underlying the RSUs and no rights as a shareholder
shall exist prior to the actual issuance of Shares in the name of the Grantee.

 

12.3. Settlements
of Awards. Settlement of vested RSUs shall be made in the form of Shares or, in the discretion of the Committee, cash (other than
with respect 102 Trustee Awards). Distribution to a Grantee of an amount (or amounts) from settlement of vested RSUs can be deferred
to a date after vesting as determined by the Committee. The amount of a deferred distribution may be increased by an interest factor
or by dividend equivalents. Until the grant of RSUs is settled, the number of Shares underlying such RSUs shall be subject to adjustment
pursuant hereto.

 

12.4. Section
409A Restrictions. Notwithstanding anything to the contrary set forth herein, any RSUs granted under this Plan that are not exempt
from the requirements of Section 409A of the Code shall contain such restrictions or other provisions
so that such RSUs will comply with the requirements of Section 409A of the Code, if applicable to the Grantee. Such restrictions, if
any, shall be determined by the Committee and contained in the Restricted Share Unit Agreement evidencing such RSU. For example, such
restrictions may include a requirement that any Shares that are to be issued in a year following the year in which the RSU vests must
be issued in accordance with a fixed, pre-determined schedule.

 

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13. OTHER
SHARE OR SHARE-BASED AWARDS.

 

13.1. The
Committee may grant other Awards under this Plan pursuant to which Shares (which may, but need not, be Restricted Shares pursuant to
Section 11 hereof), cash (in settlement of Share-based Awards) or a combination thereof, are or may in the future be acquired or received,
or Awards denominated in stock units, including units valued on the basis of measures other than market value.

 

13.2. The
Committee may also grant stock appreciation rights without the grant of an accompanying option, which rights shall permit the Grantees
to receive, at the time of any exercise of such rights, cash equal to the amount by which the Fair Market Value of the Shares in respect
to which the right was granted is so exercised exceeds the exercise price thereof. The exercise price of any such stock appreciation
right granted to a Grantee who is subject to U.S. federal income tax shall be determined in compliance with Section 7.2.

 

13.3. Such
other Share-based Awards as set forth above may be granted alone, in addition to, or in tandem with any Award of any type granted under
this Plan (without any obligation or assurance that that such Share-based Awards will be entitled to tax benefits under Applicable Law
or to the same tax treatment as other Awards under this Plan).

 

14. EFFECT
OF CERTAIN CHANGES.

 

14.1. General.
In the event of a division or subdivision of the outstanding share capital of the Company, any distribution of bonus shares (stock
split), consolidation or combination of share capital of the Company (reverse stock split), reclassification with respect to the Shares
or any similar recapitalization events (each, a “Recapitalization”), a merger (including, a reverse merger and a reverse
triangular merger), consolidation, amalgamation or like transaction of the Company with or into another corporation, a reorganization
(which may include a combination or exchange of shares, spin-off or other corporate divestiture or division, or other similar occurrences,
the Committee shall make, without the need for a consent of any holder of an Award, such adjustments as determined by the Committee to
be appropriate, in its discretion, in order to adjust (i) the number and class of shares reserved and available for grants of Awards,
(ii) the number and class of shares covered by outstanding Awards, (iii) the Exercise Price per share covered by any Award, (iv) the
terms and conditions concerning vesting and exercisability and the term and duration of the outstanding Awards, (v) the type or class
of security, asset or right underlying the Award (which need not be only that of the Company, and may be that of the surviving corporation
or any affiliate thereof or such other entity party to any of the above transactions), and (vi) any other terms of the Award that in
the opinion of the Committee should be adjusted. Subject to Applicable Law, any fractional shares resulting from such adjustment shall
be treated as determined by the Committee, and in the absence of such determination shall be rounded to the nearest whole share, and
the Company shall have no obligation to make any cash or other payment with respect to such fractional shares. No adjustment shall be
made by reason of the distribution of subscription rights or rights offering to outstanding shares or other issuance of shares by the
Company, unless the Committee determines otherwise. The adjustments determined pursuant to this Section
14.1 (including a determination that no adjustment is to be made) shall be final, binding and conclusive.

 

Notwithstanding
anything to the contrary included herein, and subject to Applicable Law and the applicable accounting standards, in the event of a distribution
of cash dividend by the Company to all holders of Shares, the Committee shall have the authority to determine, without the need for a
consent of any holder of an Award, that the Exercise Price of any Award, which is outstanding and unexercised on the record date of such
distribution, shall be reduced by an amount equal to the per Share gross dividend amount distributed by the Company, and the Committee
may determine that the Exercise Price following such reduction shall be not less than the par value of a Share (if such Shares bear a
par value). The application of this Section with respect to any 102 Awards shall be subject to obtaining a ruling from the ITA, to the
extent required by applicable law and subject to the terms and conditions of any such ruling.

 

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14.2. Merger/Sale
of Company. In the event of (i) a sale of all or substantially all of the assets of the Company, or a sale (including an exchange)
of all or substantially all of the shares of the Company, to any person, or a purchase by a shareholder of the Company or by an Affiliate
of such shareholder, of all the shares of the Company held by all or substantially all other shareholders or by other shareholders who
are not Affiliated with such acquiring party; (ii) a merger (including, a reverse merger and a reverse triangular merger), consolidation,
amalgamation or like transaction of the Company with or into another corporation; (iii) a scheme of arrangement for the purpose of effecting
such sale, merger, consolidation, amalgamation or other transaction; (iv) approval by the shareholders of the Company of a complete liquidation
or dissolution of the Company, (v) Change in Board Event, or (vi) such other transaction or set of circumstances that is determined
by the Board, in its discretion, to be a transaction subject to the provisions of this Section ‎14.2 excluding any of the foregoing
transactions in clauses (i) through (iv) if the Board determines that such transaction should be excluded
from the definition hereof and the applicability of this Section 14.2 (each of the foregoing transactions, a “Merger/Sale”),
then, without derogating from the general authority and power of the Board or the Committee under this Plan, without the Grantee’s
consent and action and without any prior notice requirement, the Committee may make, in its sole and absolute discretion, any determination
as to the treatment of Awards including, without limitation, as provided herein:

 

14.2.1 Unless
otherwise determined by the Committee, any Award then outstanding shall be assumed or be substituted by the Company, or by the successor
corporation in such Merger/Sale or by any parent or Affiliate thereof, as determined by the Committee in its discretion (the “Successor
Corporation”), under terms as determined by the Committee or the terms of this Plan applied by the Successor Corporation to
such assumed or substituted Awards.

 

For
the purposes of this Section 14.2.1, the Award shall be considered assumed or substituted if, following a Merger/Sale, the Award confers
on the holder thereof the right to purchase or receive, for each Share underlying an Award immediately prior to the Merger/Sale, either
(i) the consideration (whether shares or other securities, cash or other property, or rights, or any combination thereof) distributed
to or received by holders of Shares in the Merger/Sale for each Share held on the effective date of the Merger/Sale (and if holders were
offered a choice or several types of consideration, the type of consideration as determined by the Committee, which need not be the same
type for all Grantees), or (ii) regardless of the consideration received by the holders of Shares in the Merger/Sale, solely shares or
any type of Awards (or their equivalent) of the Successor Corporation at a value to be determined by the Committee in its discretion,
or a certain type of consideration (whether shares or other securities, cash or other property, or rights, or any combination thereof)
as determined by the Committee. Any of the consideration referred to in the foregoing clauses (i) and (ii) shall be subject to the same
vesting and expiration terms of the Awards applying immediately prior to the Merger/Sale, unless determined by the Committee in its discretion
that the consideration shall be subject to different vesting and expiration terms, or other terms, and the Committee may determine that
it be subject to other or additional terms. The foregoing shall not limit the Committee’s authority to determine, that in lieu
of such assumption or substitution of Awards for Awards of the Successor Corporation, such Award will be substituted for shares or other
securities, cash or other property, or rights, or any combination thereof, including as set forth in Section 14.2.2 hereof.

 

14.2.2 Regardless
of whether or not Awards are assumed or substituted, the Committee may (but shall not be obligated to):

 

14.2.2.1. provide
for the Grantee to have the right to exercise the Award in respect of Shares covered by the Award which would otherwise be exercisable
or vested, under such terms and conditions as the Committee shall determine, and the cancellation of all unexercised Awards (whether
vested or unvested) upon or immediately prior to the closing of the Merger/Sale, unless the Committee provides for the Grantee to have
the right to exercise the Award, or otherwise for the acceleration of vesting of such Award, as to all or part of the Shares covered
by the Award which would not otherwise be exercisable or vested, under such terms and conditions as the Committee shall determine; 

 

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14.2.2.2. provide
for the cancellation of each outstanding Award at or immediately prior to the closing of such Merger/Sale, and if and to what extent
payment shall be made to the Grantee of an amount in, shares or other securities of the Company, the acquirer or of a corporation or
other business entity which is a party to the Merger/Sale, in cash or other property, in rights, or in any combination thereof, as determined
by the Committee to be fair in the circumstances, and subject to such terms and conditions as determined by the Committee. Subject to
Applicable Law, the Committee shall have full authority to select the method for determining the payment (being the intrinsic (“spread”)
value of the option, Black-Scholes model or any other method). Inter alia, and without limitation of the following determination
being made in other circumstances, the Committee’s determination may provide that payment shall be set to zero if the value of
the Shares is determined to be less than the Exercise Price or in respect of Shares covered by the Award which would not otherwise be
exercisable or vested, or that payment may be made only in excess of the Exercise Price; and/or

 

14.2.2.3. provide
that the terms of any Award shall be otherwise amended, modified or terminated, as determined by the Committee to be fair in the circumstances.

 

14.2.3 Subject
to Applicable Law, the Committee may, determine: (i) that any payments made in respect of Awards shall be made or delayed to the same
extent that payment of consideration to the holders of the Shares in connection with the Merger/Sale is made or delayed as a result of
escrows, indemnification, earn outs, holdbacks or any other contingencies or conditions; (ii) the terms and conditions applying to the
payment made or payable to the Grantees, including participation in escrow, indemnification, releases, earn-outs, holdbacks or any other
contingencies; and (iii) that any terms and conditions applying under the applicable definitive transaction agreements shall apply to
the Grantees (including, appointment and engagement of a shareholders or sellers representative, payment of fees or other costs and expenses
associated with such services, indemnifying such representative, and authorization to such representative within the scope of such representative’s
authority in the applicable definitive transaction agreements).

 

14.2.4 The
Committee may, determine to suspend the Grantee’s rights to exercise any vested portion of an Award for a period of time prior
to the signing or consummation of a Merger/Sale transaction.

 

14.2.5 Without
limiting the generality of this Section ‎14, if the consideration in exchange for Awards in a Merger/Sale includes any securities
and due receipt thereof by any Grantee (or by the Trustee for the benefit of such Grantee) may require under applicable law (i) the registration
or qualification of such securities or of any person as a broker or dealer or agent with respect to such securities; or (ii) the provision
to any Grantee of any information under the Securities Act or any other securities laws, then the Committee may determine that the Grantee
shall be paid in lieu thereof, against surrender of the Shares or cancellation of any other Awards, an amount in cash or other property,
or rights, or any combination thereof, as determined by the Committee to be fair in the circumstances, and subject to such terms and
conditions as determined by the Committee. Nothing herein shall entitle any Grantee to receive any form of consideration that such Grantee
would be ineligible to receive as a result of such Grantee’s failure to satisfy (in the Committee’s sole determination) any
condition, requirement or limitation that is generally applicable to the Company’s shareholders, or that is otherwise applicable
under the terms of the Merger/Sale, and in such case, the Committee shall determine the type of consideration and the terms applying
to such Grantees. 

 

14.2.6 Neither
the authorities and powers of the Committee under this Section 14.2, nor the exercise or implementation thereof, shall (i) be restricted
or limited in any way by any adverse consequences (tax or otherwise) that may result to any holder of an Award, and (ii) as, inter
alia, being a feature of the Award upon its grant, be deemed to constitute a change or an amendment of the rights of such holder
under this Plan, nor shall any such adverse consequences (as well as any adverse tax consequences that may result from any tax ruling
or other approval or determination of any relevant tax authority) be deemed to constitute a change or an amendment of the rights of such
holder under this Plan, and may be effected without consent of any Grantee and without any liability to the Company or its Affiliates
or to its or their respective officers, directors, employees and representatives and the respective successors and assigns of any of
the foregoing. The Committee need not take the same action with respect to all Awards or with respect to all Service Providers. The Committee
may take different actions with respect to the vested and unvested portions of an Award. The Committee may determine an amount or type
of consideration to be received or distributed in a Merger/Sale which may differ as among the Grantees, and as between the Grantees and
any other holders of shares of the Company.

 

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14.2.7 The
Committee may determine that upon a Merger/Sale any Shares held by Grantees (or for Grantee’s benefit) are sold in accordance with
instructions issued by the Committee in connection with such Merger/Sale, which shall be final, conclusive and binding on all Grantees.

 

14.2.8 All
of the Committee’s determinations pursuant to this Section 14 shall be at its sole and absolute discretion, and shall be final,
conclusive and binding on all Grantees (including, for clarity, as it relates to Shares issued upon exercise or vesting of any Awards
or that are Awards, unless otherwise determined by the Committee) and without any liability to the Company or its Affiliates, or to their
respective officers, directors, employees, shareholders and representatives, and the respective successors and assigns of any of the
foregoing, in connection with the method of treatment, chosen course of action or determinations made hereunder.

 

14.2.9 If
determined by the Committee, the Grantees shall be subject to the definitive agreement(s) in connection with the Merger/Sale as applying
to holders of Shares including, such terms, conditions, representations, undertakings, liabilities, limitations, releases, indemnities,
appointing and indemnifying shareholders/sellers representative, participating in transaction expenses, shareholders/sellers representative
expense fund and escrow arrangement, in each case as determined by the Committee. Each 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) or instruments as may be requested by the Company, the Successor Corporation or the acquirer in connection with
such in such Merger/Sale or otherwise under or for the purpose of implementing this Section ‎14.2, and in the form required by them.
The execution of such separate agreement(s) may be a condition to the receipt of assumed or substituted Awards, payment in lieu of the
Award, the exercise of any Award or otherwise to be entitled to benefit from shares or other securities, cash or other property, or rights,
or any combination thereof, pursuant to this Section ‎14.2 (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). 

 

14.3. Reservation
of Rights. Except as expressly provided in this Section 14 (if any), the Grantee of an Award hereunder shall have no rights by reason
of any transaction or event referred to in this Section ‎14 (including, Recapitalization of shares of any class, any increase or
decrease in the number of shares of any class, or any dissolution, liquidation, reorganization, business combination, exchange of shares,
spin-off or other corporate divestiture or division, or other similar occurrences, or Merger/Sale). Any issue by the Company of shares
of any class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall
be made with respect to, the number, type or price of shares subject to an Award. The grant of an Award pursuant to this Plan shall not
affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital
or business structures or to merge or to consolidate or to dissolve, liquidate or sell, or transfer all or part of its business or assets
or engage in any similar transactions.

 

15. NON-TRANSFERABILITY
OF AWARDS; SURVIVING BENEFICIARY.

 

15.1. All
Awards granted under this Plan by their terms shall not be transferable other than by will or by the laws of descent and distribution,
unless otherwise determined by the Committee or under this Plan, provided that with respect to Shares issued upon exercise of
Awards, Shares issued upon the vesting of Awards or Awards that are Shares, the restrictions on transfer
shall be the restrictions referred to in Section 16 (Conditions upon Issuance of Shares)
hereof. Subject to the above provisions, the terms of such Award, this Plan and any applicable Award
Agreement shall be binding upon the beneficiaries, executors, administrators, heirs and successors of such Grantee. Awards may be exercised
or otherwise realized, during the lifetime of the Grantee, only by the Grantee or by his guardian or legal representative, to the extent
provided for herein. Any transfer of an Award not permitted hereunder (including transfers pursuant to any decree of divorce, dissolution
or separate maintenance, any property settlement, any separation agreement or any other agreement with a spouse) and any grant of any
interest in any Award to, or creation in any way of any direct or indirect interest in any Award by, any party other than the Grantee
shall be null and void and shall not confer upon any party or person, other than the Grantee, any rights. A Grantee may file with the
Committee a written designation of a beneficiary, who shall be permitted to exercise such Grantee’s Award or to whom any benefit
under this Plan is to be paid, in each case, in the event of the Grantee’s death before he or she fully exercises his or her Award
or receives any or all of such benefit, on such form as may be prescribed by the Committee and may, from time to time, amend or revoke
such designation. If no designated beneficiary survives the Grantee, the executor or administrator of the Grantee’s estate shall
be deemed to be the Grantee’s beneficiary. Notwithstanding the foregoing, upon the request of the Grantee and subject to Applicable
Law, the Committee, at its sole discretion, may permit the Grantee to transfer the Award to a trust whose beneficiaries are the Grantee
and/or the Grantee’s immediate family members (all or several of them).

 

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15.2. Notwithstanding
any other provisions of the Plan to the contrary, no Incentive Stock Option may be sold, transferred, pledged, assigned or otherwise
alienated or hypothecated, other than by will or by the laws of descent and distribution or in accordance with a beneficiary designation
pursuant to Section 15.1. Further, all Incentive Stock Options granted to a Grantee shall be exercisable during his or her lifetime only
by such Grantee.

 

15.3. As
long as the Shares are held by the Trustee in favor of the Grantee, all rights possessed by the Grantee over the Shares are personal,
and may not be transferred, assigned, pledged or mortgaged, other than by will or laws of descent and distribution.

 

15.4. If
and to the extent a Grantee is entitled to transfer an Award and/or Shares underlying an Award in accordance with the terms of the Plan
and any other applicable agreements, such transfer shall be subject (in addition, to any other conditions or terms applying thereto)
to receipt by the Company from such proposed transferee of a written instrument, on a form reasonably acceptable to the Company, pursuant
to which such proposed transferee agrees to be bound by all provisions of the Plan and any other applicable agreements, including without
limitation, any restrictions on transfer of the Award and/or Shares set forth herein (however, failure to so deliver such instrument
to the Company as set forth above shall not derogate from all such provisions applying on any transferee).

 

15.5. The
provisions of this Section 15 shall apply to the Grantee and to any purchaser, assignee or transferee of any Shares.

 

16. CONDITIONS
UPON ISSUANCE OF SHARES; GOVERNING PROVISIONS.

 

16.1. Legal
Compliance. The grant of Awards and the issuance of Shares upon exercise or settlement of Awards
shall be subject to compliance with all Applicable Law as determined by the Company, including, applicable requirements of federal, state
and foreign law with respect to such securities. The Company shall have no obligations to issue Shares pursuant to the exercise or settlement
of an Award and Awards may not be exercised or settled, if the issuance of Shares upon exercise or settlement would constitute a violation
of any Applicable Law 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. In addition, no Award may be exercised
unless (i) a registration statement under the Securities Act or equivalent law in another jurisdiction shall at the time of exercise
or settlement of the Award be in effect with respect to the shares issuable upon exercise of the
Award, or (ii) in the opinion of legal counsel to the Company, the shares issuable upon exercise
of the Award may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities
Act or equivalent law in another jurisdiction. The inability of the Company to obtain authority from any regulatory body having jurisdiction,
if any, deemed by the Company to be necessary to the lawful issuance and sale of any Shares hereunder, and the inability to issue Shares
hereunder due to non-compliance with any Company policies with respect to the sale of Shares, shall relieve the Company of any liability
in respect of the failure to issue or sell such Shares as to which such requisite authority or compliance shall not have been obtained
or achieved. As a condition to the exercise of an Award, the Company may require the person exercising such Award to satisfy any qualifications
that may be necessary or appropriate, to evidence compliance with any Applicable Law or regulation and to make any representation or
warranty with respect thereto as may be requested by the Company, including to represent and warrant at the time of any such exercise
that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares, all in form
and content specified by the Company.

 

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16.2. Provisions
Governing Shares. Shares issued pursuant to an Award shall be subject to this Plan and shall be subject to the Articles of Association
of the Company, and any other governing documents of the Company and all policies, manuals and internal regulations of the Company, as
in effect from time to time. 

 

16.3. Share
Purchase Transactions; Forced Sale. In the event that the Board approves a Merger/Sale effected by way of a forced or compulsory
sale (whether pursuant to the Company’s Articles of Association or pursuant to Section 341 of the Companies Law or otherwise) or
in the event of a transaction for the sale of all shares of the Company, then, without derogating from such provisions and in addition
thereto, the Grantee shall be obligated, and shall be deemed to have agreed to the offer to effect the Merger/Sale (and the Shares held
by or for the benefit of the Grantee shall be included in the shares of the Company approving the terms of such Merger/Sale for the purpose
of satisfying the required majority), and shall sell all of the Shares held by or for the benefit of the Grantee on the terms and conditions
applying to the holders of Shares, in accordance with the instructions then issued by the Board, whose determination shall be final.
No Grantee shall contest, bring any claims or demands, or exercise any appraisal or dissenters’ rights related to any of the foregoing.
Each 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 documents and agreements, as may be requested by the Company relating to matters
set forth in or otherwise for the purpose of implementing this Section‎16.3. 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. 

 

16.4. Data
Privacy; Data Transfer. Information related to Grantees and Awards 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 Grantees (“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 Grantee consents to the storage and
transfer of the Information as set forth above.

 

16.5. Prohibition
on Executive Officer Loans. Notwithstanding any other provision of the Plan to the contrary, no Grantee who is a member of the Board
or an “executive officer” of the Company within the meaning of Section 13(k) of the Exchange Act shall be permitted to make
payment with respect to any Awards granted under the Plan, or continue any extension of credit with respect to such payment, with a loan
from the Company or a loan arranged by the Company in violation of Section 13(k) of the Exchange Act.

 

16.6. Clawback
Provisions. All Awards (including the gross amount of any proceeds, gains or other economic benefit the Grantee actually or constructively
receives upon receipt or exercise of any Award or the receipt or resale of any Shares underlying the Award) will be subject to recoupment
by the Company to the extent required to comply with Applicable Law or any policy of the Company (subject to Applicable Law) providing
for the reimbursement of incentive compensation, whether or not such policy was in place at the time of grant of an Award.

 

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17. AGREEMENT
REGARDING TAXES; DISCLAIMER.

 

17.1. If
the Company shall so require, as a condition of exercise or (if applicable) vesting of an Award, the release of Shares by the Trustee
or the vesting or settlement of an Award, a Grantee shall agree that, no later than the date of such occurrence, the Grantee will pay
to the Company (or the Trustee, as applicable) or make arrangements satisfactory to the Company and the Trustee (if applicable) regarding
payment of any applicable taxes and compulsory payments of any kind required by Applicable Law to be withheld or paid.

 

17.2. TAX
LIABILITY. ALL TAX CONSEQUENCES UNDER ANY APPLICABLE LAW WHICH MAY ARISE FROM THE GRANT OF ANY AWARDS OR THE EXERCISE OR (IF APPLICABLE)
VESTING THEREOF, THE SALE OR DISPOSITION OF ANY SHARES GRANTED HEREUNDER OR ISSUED UPON EXERCISE OR (IF APPLICABLE) THE VESTING OF ANY
AWARD, THE ASSUMPTION, SUBSTITUTION, CANCELLATION OR PAYMENT IN LIEU OF AWARDS OR FROM ANY OTHER ACTION IN CONNECTION WITH THE FOREGOING
(INCLUDING WITHOUT LIMITATION ANY TAXES AND COMPULSORY PAYMENTS, SUCH AS SOCIAL SECURITY OR HEALTH TAX PAYABLE BY THE GRANTEE OR THE
COMPANY IN CONNECTION THEREWITH) SHALL BE BORNE AND PAID SOLELY BY THE GRANTEE, AND THE GRANTEE SHALL INDEMNIFY THE COMPANY, ITS SUBSIDIARIES
AND AFFILIATES AND THE TRUSTEE, AND SHALL HOLD THEM HARMLESS AGAINST AND FROM ANY LIABILITY FOR ANY SUCH TAX OR PAYMENT OR ANY PENALTY,
INTEREST OR INDEXATION THEREON. EACH GRANTEE AGREES TO, AND UNDERTAKES TO COMPLY WITH, ANY RULING, SETTLEMENT, CLOSING AGREEMENT OR OTHER
SIMILAR AGREEMENT OR ARRANGEMENT WITH ANY TAX AUTHORITY IN CONNECTION WITH THE FOREGOING WHICH IS APPROVED BY THE COMPANY.

 

17.3. NO
TAX ADVICE. THE GRANTEE IS ADVISED TO CONSULT WITH A TAX ADVISOR WITH RESPECT TO THE TAX CONSEQUENCES OF RECEIVING, EXERCISING OR
DISPOSING OF AWARDS HEREUNDER. THE COMPANY DOES NOT ASSUME ANY RESPONSIBILITY TO ADVISE THE GRANTEE ON SUCH MATTERS, WHICH SHALL REMAIN
SOLELY THE RESPONSIBILITY OF THE GRANTEE.

 

17.4. TAX
TREATMENT. THE COMPANY AND ITS AFFILIATES (INCLUDING THE EMPLOYER) DO NOT UNDERTAKE OR ASSUME ANY LIABILITY OR RESPONSIBILITY TO
THE EFFECT THAT ANY AWARD SHALL QUALIFY WITH ANY PARTICULAR TAX REGIME OR RULES APPLYING TO PARTICULAR TAX TREATMENT, OR BENEFIT FROM
ANY PARTICULAR TAX TREATMENT OR TAX ADVANTAGE OF ANY TYPE AND THE COMPANY AND ITS AFFILIATES (INCLUDING THE EMPLOYER) SHALL BEAR NO LIABILITY
IN CONNECTION WITH THE MANNER IN WHICH ANY AWARD IS TREATED FOR TAX PURPOSES, REGARDLESS OF WHETHER THE AWARD WAS GRANTED OR WAS INTENDED
TO QUALIFY UNDER ANY PARTICULAR TAX REGIME OR TREATMENT. THIS PROVISION SHALL SUPERSEDE ANY TYPE OF AWARDS OR TAX QUALIFICATION INDICATED
IN ANY CORPORATE RESOLUTION OR AWARD AGREEMENT, WHICH SHALL AT ALL TIMES BE SUBJECT TO THE REQUIREMENTS OF APPLICABLE LAW. THE COMPANY
AND ITS AFFILIATES (INCLUDING THE EMPLOYER) DO NOT UNDERTAKE AND SHALL NOT BE REQUIRED TO TAKE ANY ACTION IN ORDER TO QUALIFY ANY AWARD
WITH THE REQUIREMENT OF ANY PARTICULAR TAX TREATMENT AND NO INDICATION IN ANY DOCUMENT TO THE EFFECT THAT ANY AWARD IS INTENDED TO QUALIFY
FOR ANY TAX TREATMENT SHALL IMPLY SUCH AN UNDERTAKING. THE COMPANY AND ITS AFFILIATES (INCLUDING THE EMPLOYER) DO NOT UNDERTAKE TO REPORT
FOR TAX PURPOSES ANY AWARD IN ANY PARTICULAR MANNER, INCLUDING IN ANY MANNER CONSISTENT WITH ANY PARTICULAR TAX TREATMENT. NO ASSURANCE
IS MADE BY THE COMPANY OR ANY OF ITS AFFILIATES (INCLUDING THE EMPLOYER) THAT ANY PARTICULAR TAX TREATMENT ON THE DATE OF GRANT WILL
CONTINUE TO EXIST OR THAT THE AWARD WOULD QUALIFY AT THE TIME OF EXERCISE, VESTING OR DISPOSITION THEREOF WITH ANY PARTICULAR TAX TREATMENT.
THE COMPANY AND ITS AFFILIATES (INCLUDING THE EMPLOYER) SHALL NOT HAVE ANY LIABILITY OR OBLIGATION OF ANY NATURE IN THE EVENT THAT AN
AWARD DOES NOT QUALIFY FOR ANY PARTICULAR TAX TREATMENT, REGARDLESS WHETHER THE COMPANY COULD HAVE OR SHOULD HAVE TAKEN ANY ACTION TO
CAUSE SUCH QUALIFICATION TO BE MET AND SUCH QUALIFICATION REMAINS AT ALL TIMES AND UNDER ALL CIRCUMSTANCES AT THE RISK OF THE GRANTEE.
THE COMPANY DOES NOT UNDERTAKE OR ASSUME ANY LIABILITY TO CONTEST A DETERMINATION OR INTERPRETATION (WHETHER WRITTEN OR UNWRITTEN) OF
ANY TAX AUTHORITIES, INCLUDING IN RESPECT OF THE QUALIFICATION UNDER ANY PARTICULAR TAX REGIME OR RULES APPLYING TO PARTICULAR TAX TREATMENT.
IF THE AWARDS DO NOT QUALIFY UNDER ANY PARTICULAR TAX TREATMENT IT COULD RESULT IN ADVERSE TAX CONSEQUENCES TO THE GRANTEE.

 

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17.5. The
Company or any Subsidiary or other Affiliate thereof (including the Employer) may take such action as it may deem necessary or appropriate,
in its discretion, for the purpose of or in connection with withholding of any taxes and compulsory payments which the Trustee, the Company
or any Subsidiary or other Affiliate thereof (including the Employer) (or any applicable agent thereof) is required by any Applicable
Law to withhold in connection with any Awards, including, without limitations, any income tax, social benefits, social insurance, health
tax, pension, payroll tax, fringe benefits, excise tax, payment on account or other tax-related items related to the Grantee’s
participation in the Plan and applicable by law to the Grantee (collectively, “Withholding Obligations”). Such actions
may include (i) requiring a Grantees to remit to the Company or the Employer in cash an amount sufficient to satisfy such Withholding
Obligations and any other taxes and compulsory payments, payable by the Company or the Employer in connection
with the Award or the exercise or (if applicable) the vesting thereof; (ii) subject to Applicable Law, allowing the Grantees to surrender
Shares to the Company, in an amount that at such time, reflects a value that the Committee determines to be sufficient to satisfy such
Withholding Obligations; (iii) withholding Shares otherwise issuable upon the exercise of an Award at a value which is determined by
the Company to be sufficient to satisfy such Withholding Obligations; (iv) allowing Grantees to satisfy all or part of the Withholding
Obligations by the delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker approved by the
Company to sell Shares and to deliver all or part of the sales proceeds to the Company or the Trustee; or (iv) any combination of the
foregoing. The Company shall not be obligated to allow the exercise or vesting of any Award by or on behalf of a Grantee until all tax
consequences arising therefrom are resolved in a manner acceptable to the Company.

 

17.6. Each
Grantee shall notify the Company in writing promptly and in any event within ten (10) days after the date on which such Grantee first
obtains knowledge of any tax authority inquiry, audit, assertion, determination, investigation, or question relating in any manner to
the Awards granted or received hereunder or Shares issued thereunder and shall continuously inform the Company of any developments, proceedings,
discussions and negotiations relating to such matter, and shall allow the Company and its representatives to participate in any proceedings
and discussions concerning such matters. Upon request, a Grantee shall provide to the Company any information or document relating to
any matter described in the preceding sentence, which the Company, in its discretion, requires.

 

17.7. With
respect to 102 Non-Trustee Options, if the Grantee ceases to be employed by the Company, Parent, Subsidiary or any Affiliate (including
the Employer), the Grantee shall extend to the Company and/or the Employer a security or guarantee for the payment of taxes due at the
time of sale of Shares, all in accordance with the provisions of Section 102 of the Ordinance and the Rules.

 

17.8. If
a Grantee makes an election under Section 83(b) of the Code to be taxed with respect to an Award as of the date of transfer of Shares
rather than as of the date or dates upon which the Grantee would otherwise be taxable under Section 83(a) of the Code, such Grantee shall
deliver a copy of such election to the Company upon or prior to the filing such election with the U.S.
Internal Revenue Service. Neither the Company nor any Affiliate (including the Employer) shall have any liability or responsibility relating
to or arising out of the filing or not filing of any such election or any defects in its construction.

 

18. RIGHTS
AS A SHAREHOLDER; VOTING AND DIVIDENDS.

 

18.1. Subject
to Section 11.4, a Grantee shall have no rights as a shareholder of the Company with respect to any Shares covered by an Award until
the Grantee shall have exercised or (as applicable) vests in the Award, paid any Exercise Price therefor and becomes the record holder
of the subject Shares. In the case of 102 Awards, the Trustee shall have no rights as a shareholder of the Company with respect to the
Shares covered by such Award until the Trustee becomes the record holder for such Shares for the Grantee’s benefit, and the Grantee
shall not be deemed to be a shareholder and shall have no rights as a shareholder of the Company with respect to the Shares covered by
the Award until the date of the release of such Shares from the Trustee to the Grantee and the transfer of record ownership of such Shares
to the Grantee (provided, however, that the Grantee shall be entitled to receive from the Trustee any cash dividend or
distribution made on account of the Shares held by the Trustee for such Grantee’s benefit, subject to any tax withholding and compulsory
payment). No adjustment shall be made for dividends (ordinary or extraordinary, whether in shares or other securities, cash or other
property, or rights, or any combination thereof) or distribution of other rights for which the record date is prior to the date on which
the Grantee or Trustee (as applicable) becomes the record holder of the Shares covered by an Award, except as provided in Section 14
hereof.

 

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18.2. With
respect to all Awards issued in the form of Shares hereunder or upon the exercise or (if applicable) the vesting of Awards hereunder,
any and all voting rights attached to such Shares shall be subject to Section 18.1, and the Grantee shall be entitled to receive dividends
distributed with respect to such Shares, subject to the provisions of the Company’s Articles of Association, as amended from time
to time, and subject to any Applicable Law.

 

18.3. The
Company may, but shall not be obligated to, register or qualify the sale of Shares under any applicable securities law or any other Applicable
Law.

 

19. NO
REPRESENTATION BY COMPANY.

 

By
granting the Awards, the Company is not, and shall not be deemed as, making any representation or warranties to the Grantee regarding
the Company, its business affairs, its prospects or the future value of its Shares and such representations and warranties are hereby
disclaimed. The Company shall not be required to provide to any Grantee any information, documents or material in connection with the
Grantee’s considering an exercise of an Award. To the extent that any information, documents or materials are provided, the Company
shall have no liability with respect thereto. Any decision by a Grantee to exercise an Award shall solely be at the risk of the Grantee.

 

20. NO
RETENTION RIGHTS.

 

Nothing
in this Plan, any Award Agreement or in any Award granted or agreement entered into pursuant hereto shall confer upon any Grantee the
right to continue in the employ of, or be in the service of the Company or any Subsidiary or other Affiliate thereof as a Service Provider
or to be entitled to any remuneration or benefits not set forth in this Plan or such agreement, or to interfere with or limit in any
way the right of the Company or any such Subsidiary or other Affiliate thereof to terminate such Grantee’s employment or service
(including, any right of the Company or any of its Affiliates to immediately cease the Grantee’s employment or service or to shorten
all or part of the notice period, regardless of whether notice of termination was given by the Company or its Affiliates or by the Grantee).
Awards granted under this Plan shall not be affected by any change in duties or position of a Grantee, subject to Sections 6.6 through
6.8. No Grantee shall be entitled to claim and the Grantee hereby waives any claim against the Company or any Subsidiary or other Affiliate
thereof that he or she was prevented from continuing to vest Awards as of the date of termination of his or her employment with, or services
to, the Company or any Subsidiary or other Affiliate thereof. No Grantee shall be entitled to any compensation in respect of the Awards
which would have vested had such Grantee’s employment or engagement with the Company (or any Subsidiary or other Affiliate thereof)
not been terminated.

 

21. PERIOD
DURING WHICH AWARDS MAY BE GRANTED.

 

Awards
may be granted pursuant to this Plan from time to time from the Effective Date and until this Plan is terminated by the Board, except
that Incentive Stock Options shall not be granted following the ten (10) year anniversary of the earlier of the date this Plan was approved
by (x) the Board or (y) the shareholders of the Company. From and after the date the Board terminates this Plan, no grants of Awards
may be made and this Plan shall continue to be in full force and effect with respect to Awards or Shares issued thereunder that remain
outstanding.

 

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22. AMENDMENT
OF THIS PLAN AND AWARDS.

 

22.1. The
Board at any time and from time to time may suspend, terminate, modify or amend this Plan, whether retroactively or prospectively. Any
amendment effected in accordance with this Section shall be binding upon all Grantees and all Awards, whether granted prior to or after
the date of such amendment, and without the need to obtain the consent of any Grantee. No termination or amendment of this Plan shall
affect any then outstanding Award unless expressly provided by the Board.

 

22.2. Subject
to changes in Applicable Law that would permit otherwise, without the approval of the Company’s shareholders, there shall be (i)
no increase in the maximum aggregate number of Shares that may be issued under this Plan as Incentive Stock Options (except by operation
of the provisions of Section 14.1), (ii) no change in the class of persons eligible to receive Incentive Stock Options, and (iii) no
other amendment of this Plan that would require approval of the Company’s shareholders under any Applicable Law or the rules of
the applicable stock market or exchange, if any, on which the Shares are principally quoted or traded. Unless not permitted by Applicable
Law, if the grant of an Award is subject to approval by shareholders, the date of grant of the Award shall be determined as if the Award
had not been subject to such approval. Failure to obtain approval by the shareholders shall not in any way derogate from the valid and
binding effect of any grant of an Award that is not an Incentive Stock Option. 

 

22.3. The
Board or the Committee at any time and from time to time may modify or amend any Award theretofore granted, including any Award Agreement,
whether retroactively or prospectively.

 

23. APPROVAL.

 

23.1. This
Plan shall take effect upon its adoption by the Board and approval by the shareholders within twelve (12) months before or after adoption
by the Board (the “Effective Date”).

 

23.2. 102
Awards are conditional upon the filing with or approval by the ITA, if required, as set forth in Section 9.4. Failure to so file or obtain
such approval shall not in any way derogate from the valid and binding effect of any grant of an Award, which is not a 102 Award.

 

24. RULES
PARTICULAR TO SPECIFIC COUNTRIES; SECTION 409A.

 

24.1. Notwithstanding
anything herein to the contrary, the terms and conditions of this Plan may be supplemented or amended with respect to a particular country
or tax regime by means of a sub-plan or an appendix to this Plan, and to the extent that the terms and conditions set forth in any sub-plan
or appendix conflict with any provisions of this Plan, the provisions of such sub-plan or appendix shall govern with respect to Awards
made pursuant thereto. Terms and conditions set forth in such sub-plan or appendix shall apply only to Awards granted to Grantees under
the jurisdiction of the specific country or such other tax regime that is the subject of such sub-plan or appendix and shall not apply
to Awards issued to a Grantee not under the jurisdiction of such country or such other tax regime. The adoption of any such sub-plan
or appendix shall be subject to the approval of the Board or the Committee, and if and to the extent determined by the Committee to be
required by Applicable Law in connection with the application of certain tax treatment, pursuant to applicable stock exchange rules or
regulations or otherwise, then also the approval of the shareholders of the Company at the required majority.

 

24.2. This
Section 24.2 shall only apply to Awards granted to Grantees who are subject to United States Federal income tax.

 

24.2.1 It
is the intention of the Company that no Award shall be deferred compensation subject to Section 409A of the Code unless and to the extent
that the Committee specifically determines otherwise as provided in Section 24.2.2, and the Plan and the terms and conditions of all
Awards shall be interpreted and administered accordingly.

 

24.2.2 The
terms and conditions governing any Awards that the Committee determines will be subject to Section 409A of the Code, including any rules
for payment or elective or mandatory deferral of the payment or delivery of Shares or cash pursuant thereto,
and any rules regarding treatment of such Awards in the event of a Merger/Sale, shall be set forth in the applicable Award Agreement
and shall be intended to comply in all respects with Section 409A of the Code, and the Plan and the terms and conditions of such Awards
shall be interpreted and administered accordingly.

 

    30

     

    

 

24.2.3 The
Company shall have complete discretion to interpret and construe the Plan and any Award Agreement in any manner that establishes an exemption
from (or compliance with) the requirements of Section 409A of the Code. If for any reason, such as imprecision in drafting, any provision
of the Plan and/or any Award Agreement does not accurately reflect its intended establishment of an exemption from (or compliance with)
Section 409A of the Code, as demonstrated by consistent interpretations or other evidence of intent,
such provision shall be considered ambiguous as to its exemption from (or compliance with) Section 409A of the Code and shall be interpreted
by the Company in a manner consistent with such intent, as determined in the discretion of the Company. If, notwithstanding the foregoing
provisions of this Section 24.2.3, any provision of the Plan or any such agreement would cause a Grantee to incur any additional tax
or interest under Section 409A of the Code, the Company may reform such provision in a manner intended to avoid the incurrence by such
Grantee of any such additional tax or interest; provided that the Company shall maintain, to the extent reasonably practicable,
the original intent and economic benefit to the Grantee of the applicable provision without violating the provisions of Section 409A
of the Code. For the avoidance of doubt, no provision of this Plan shall be interpreted or construed to transfer any liability for failure
to comply with the requirements of Section 409A from any Grantee or any other individual to the Company or any of its affiliates, employees
or agents.

 

24.2.4 Notwithstanding
any other provision in the Plan, any Award Agreement, or any other written document establishing the terms and conditions of an Award,
if any Grantee is a “specified employee,” within the meaning of Section 409A of the Code, as of the date of his or her “separation
from service” (as defined under Section 409A of the Code), then, to the extent required by Treasury Regulation Section 1.409A-3(i)(2)
(or any successor provision), any payment made to such Grantee on account of his or her separation from service shall not be made before
a date that is six months after the date of his or her separation from service. The Committee may elect any of the methods of applying
this rule that are permitted under Treasury Regulation Section 1.409A-3(i)(2)(ii) (or any successor provision).

 

24.2.5 Notwithstanding
any other provision of this Section 24.2 to the contrary, although the Company intends to administer the Plan so that Awards will be
exempt from, or will comply with, the requirements of Section 409A of the Code, the Company does not warrant that any Award under the
Plan will qualify for favorable tax treatment under Section 409A of the Code or any other provision of federal, state, local, or non-United
States law. The Company shall not be liable to any Grantee for any tax, interest, or penalties the Grantee might owe as a result of the
grant, holding, vesting, exercise, or payment of any Award under the Plan.

 

25. GOVERNING
LAW; JURISDICTION.

 

This
Plan and all determinations made and actions taken pursuant hereto shall be governed by the laws of the State of Israel, except with
respect to matters that are subject to tax laws, regulations and rules of any specific jurisdiction, which shall be governed by the respective
laws, regulations and rules of such jurisdiction. Certain definitions, which refer to laws other than the laws of such jurisdiction,
shall be construed in accordance with such other laws. The competent courts located in Tel-Aviv-Jaffa, Israel shall have exclusive jurisdiction
over any dispute arising out of or in connection with this Plan and any Award granted hereunder. By signing any Award Agreement or any
other agreement relating to an Award, each Grantee irrevocably submits to such exclusive jurisdiction.

 

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26. NON-EXCLUSIVITY
OF THIS PLAN.

 

The
adoption of this Plan shall not be construed as creating any limitations on the power or authority of the Company to adopt such other
or additional incentive or other compensation arrangements of whatever nature as the Company may deem necessary or desirable or preclude
or limit the continuation of any other plan, practice or arrangement for the payment of compensation or fringe benefits to employees
generally, or to any class or group of employees, which the Company or any Affiliate now has or will lawfully put into effect, including
any retirement, pension, savings and stock purchase plan, insurance, death and disability benefits and executive short-term or long-term
incentive plans.

 

27. MISCELLANEOUS.

 

27.1. Survival.
The Grantee shall be bound by and the Shares issued upon exercise or (if applicable) the vesting of any Awards granted hereunder shall
remain subject to this Plan after the exercise or (if applicable) the vesting of Awards, in accordance with the terms of this Plan, whether
or not the Grantee is then or at any time thereafter employed or engaged by the Company or any of its Affiliates.

 

27.2. Additional
Terms. Each Award awarded under this Plan may contain such other terms and conditions not inconsistent with this Plan as may be determined
by the Committee, in its sole discretion.

 

27.3. Fractional
Shares. No fractional Share shall be issuable upon exercise or vesting of any Award and the number of Shares to be issued shall be
rounded down to the nearest whole Share (and the Company shall have liability to compensate for such fractional shares at any time),
with in any Share remaining at the last vesting date due to such rounding to be issued upon exercise at such last vesting date.

 

27.4. Severability.
If any provision of this Plan, any Award Agreement or any other agreement entered into in connection with an Award shall be determined
to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and thereof shall be severable
and enforceable in accordance with their terms, and all provisions shall remain enforceable in any other jurisdiction. In addition, if
any particular provision contained in this Plan, any Award Agreement or any other agreement entered into in connection with an Award
shall for any reason be held to be excessively broad as to duration, geographic scope, activity or subject, it shall be construed by
limiting and reducing such provision as to such characteristic so that the provision is enforceable to fullest extent compatible with
Applicable Law as it shall then appear.

 

27.5. Captions
and Titles. The use of captions and titles in this Plan or any Award Agreement or any other agreement entered into in connection
with an Award is for the convenience of reference only and shall not affect the meaning or interpretation
of any provision of this Plan or such agreement.

 

 

*          *          *

 

    32

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