Document:

STOCK PURCHASE AGREEMENT

 

This STOCK PURCHASE AGREEMENT, dated as
of August 31, 2013 (this “Agreement”), is by and among Spencer Tucker and Richard Backus (collectively, the
“Sellers”); and Homeowners of America Holding Company, Inc., a Delaware corporation (the “Purchaser”);

 

WHEREAS, the Sellers are the owners of an
aggregate of 900,000 shares of Common Stock, par value $0.0001 per share, of the Purchaser (“Common Stock”);

 

WHEREAS, the Sellers desires and is willing
to sell to the Purchaser, and the Purchaser desires and is willing to purchase 540,000 of Sellers’ shares of Common Stock
((the “Shares”) from the Sellers as set forth in more detail in Exhibit A, upon and subject to the terms
and conditions set forth in this Agreement.

 

NOW, THEREFORE, in consideration of the
foregoing and the covenants, agreements and warranties contained herein, the sufficiency of which is hereby acknowledged, the parties
agree as follows:

 

1.Definitions. When used
herein, the following terms shall have the meanings set forth below:

 

(a) “Affiliate” means,
with respect to any Person, any other Person that, directly or indirectly, through one or more intermediaries, controls, or is
controlled by, or is under common control with, such Person, and the term “control” (including the terms “controlled
by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or
cause the direction of the management and policies of such Person, whether through ownership of voting securities, by contract
or otherwise.

 

(b) “Encumbrance” means
any pledge, hypothecation, assignment, lien, restriction, charge, claim, security interest, option, preference, priority or other
preferential arrangement of any kind or nature whatsoever.

 

(c) “Organizational Documents”
means: (a) in the case of a Person that is a corporation, its articles or certificate of incorporation and its by-laws, regulations
or similar governing instruments required by the laws of its jurisdiction of formation or organization; (b) in the case of
a Person that is a partnership, its articles or certificate of partnership, formation or association, and its partnership agreement
(in each case, limited, limited liability, general or otherwise); (c) in the case of a Person that is a limited liability
company, its articles or certificate of formation or organization, and its limited liability company agreement or operating agreement;
and (d) in the case of a Person that is none of a corporation, partnership (limited, limited, general or otherwise), limited
liability company or natural person, its governing instruments as required or contemplated by the laws of its jurisdiction of organization.

 

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(d) “Person” means any
individual, corporation, partnership, limited liability company, firm, joint venture, association, joint-stock company, trust,
unincorporated organization, governmental body or authority or any other entity.

 

(e) "Shareholder Documents"
means (a) the Amended and Restated Certificate of Incorporation of Homeowners of America Holding Corporation dated November 8,
2005, as amended, (b) that certain Stockholders' Agreement by and among the Purchaser and the Sellers dated September 15, 2005,
(c) Amendment No. 1 to Stock Purchase Agreement by and among the Purchaser and the Sellers dated November 11, 2005.

 

(e) “Transfer Restriction”
means, with respect to any security or other property, any condition to or restriction on the ability of the holder thereof to
sell, assign or otherwise transfer such security or other property or to enforce the provisions thereof or of any document related
thereto, whether set forth in such security or other property itself or in any document related thereto or arising by operation
of law, including, without limitation, such conditions or restrictions arising under federal, state or foreign laws or under any
contracts, arrangements or agreements.

 

2.Sale and Purchase. On
the date hereof, the Sellers will sell the Shares to the Purchaser, and the Purchaser will purchase the Shares from the Sellers
at an aggregate purchase price of $5,400 or a purchase price per Share equal to One Cent ($0.01) (the aggregate purchase price
for all the Shares is referred to herein as the “Purchase Price”) (the foregoing transaction is referred to
herein as the “Transaction”).

 

3.Representations, Warranties
and Agreements of the Sellers.

 

The Sellers hereby represent, warrant and
agree on the date hereof:

 

(a) The Sellers have the power and capacity
to enter into this Agreement and to consummate the Transaction. The execution, delivery, and performance by the Sellers of this
Agreement and the consummation by the Sellers of their obligations hereunder have been duly authorized by all necessary action
in respect thereof by the Sellers. This Agreement has been duly and validly executed and delivered by the Sellers and constitutes
the legal, valid and binding obligation of the Sellers, enforceable in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar laws from time to time in effect that
affect creditors’ rights generally, and by legal and equitable limitations on the availability of specific remedies. Any
Person signing this Agreement on behalf of the Sellers has been duly and validly authorized and empowered to do so and has the
authority to bind the Sellers and to effectuate the Transaction contemplated by this Agreement.

 

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(b) The execution, delivery and performance
by the Sellers of this Agreement and consummation by the Sellers of the Transaction do not and will not: (i) violate any decree
or judgment of any court or other governmental authority applicable to or binding on the Sellers; (ii) violate any provision
of any federal or state statute, rule or regulation which is, to the Sellers’ knowledge, applicable to the Sellers; or (iii) violate
or result in a default under any contract to which the Sellers or any of the Sellers’ assets or properties are bound. No
consent or approval of, or filing with, any governmental authority or other Person not a party hereto is required for the execution,
delivery and performance by the Sellers of this Agreement or the consummation of the Transaction.

 

(c) The Sellers are the record and beneficial
owner of the Shares. Upon the transfer of the Shares to the Purchaser, the Purchaser will acquire good and marketable title thereto,
free and clear of any Encumbrances or Transfer Restrictions other than (i) those set forth in the Shareholder Documents, and (ii)
Transfer Restrictions arising solely under the Securities Act of 1933, as amended (the “Securities Act”), the
rules and regulations of the Securities and Exchange Commission (the “Commission”) promulgated thereunder, or
under similar state securities laws (the “Permitted Securities Law Restrictions”).

 

(d) No proceedings relating to the Shares
are pending or, to the knowledge of the Sellers, threatened, before any court, arbitrator or administrative or governmental body
or authority that would adversely affect the Sellers’ right to transfer the Shares to the Purchaser.

 

(e) The Sellers, by reason of, among other
things, (i) their full access to information about the Purchaser and (ii) its business and financial experience, is capable of
evaluating the merits and risks of the transfer of the Shares pursuant to this Agreement and of protecting its own interests in
connection with the Transaction. Sellers are aware of the Purchaser’s business affairs and financial condition, and have
acquired sufficient information about the Purchaser to reach an informed and knowledgeable decision to sell the Shares. Sellers
have conducted an independent evaluation of Purchaser to determine whether to engage in the transfer of the Shares pursuant to
this Agreement, and Sellers are desirous of consummating such transfer.

 

4.Representations, Warranties
and Agreements of the Purchaser.

 

The Purchaser hereby represents, warrants
and agrees as of the date hereof and on the Trade Date and the Settlement Date:

 

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(a) The Purchaser has the power and capacity
to enter into this Agreement and to consummate the Transaction. This Agreement has been duly and validly executed and delivered
by the Purchaser and constitutes the legal, valid and binding obligation of the Purchaser, enforceable in accordance with its terms,
except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar laws from
time to time in effect that affect creditors’ rights generally, and by legal and equitable limitations on the availability
of specific remedies.

 

(b) The execution, delivery and performance
by the Purchaser of this Agreement and consummation by the Purchaser of the Transaction do not and will not: (i) violate any
decree or judgment of any court or other governmental authority applicable to or binding on the Purchaser; (ii) violate any
provision of any federal or state statute, rule or regulation which is, to the Purchaser’s knowledge, applicable to the Purchaser;
(iii) conflict with, or result in any violation of, any provision of any Organizational Document of the Purchaser; or (iv) violate
or result in a default under any material contract to which the Purchaser or any of the Purchaser’s assets or properties
are bound. No consent or approval of, or filing with, any governmental authority or other Person not a party hereto is required
for the execution, delivery and performance by the Purchaser of this Agreement or the consummation of the Transaction.

 

5.Closing Conditions and Deliveries.

 

(a)Conditions Precedent to Obligations of Purchaser:

 

(i) The Sellers shall deliver to the Purchaser
the Shares against payment by Purchaser of the Purchase Price.

 

(ii) The representations and warranties
of the Sellers contained herein shall be true and correct as of this date and the Purchaser shall have complied with all of the
Sellers’ covenants and agreements contained herein.

 

(v) The Sellers shall, upon the reasonable
request, execute and deliver all other such documents and instruments reasonably deemed necessary or desirable by the other party
to fully effect the Transaction contemplated hereby, including with respect to any documents or approvals required by regulatory
authorities.

 

(b)Conditions Precedent to Obligations of Sellers:

 

(i)The Purchaser shall deliver to the Sellers the Purchase
Price by wire transfer of immediately available funds.

 

(ii)The representations and warranties of the Purchaser
contained herein shall be true and correct as of the date hereof and the Purchaser shall have complied with all of the Purchaser’s
covenants and agreements contained herein.

 

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(iii) The Stock Restriction Agreement
between Spencer Tucker and the Purchaser, dated as of November 11, 2005, and any restrictions to the Shares thereunder shall have
been terminated.

 

(iv) The Amendment No. 1 to Stock Purchase
Agreement between Richard Backus and the Purchaser, dated as of November 11, 2005, and any restrictions to the Shares thereunder
shall have been terminated.

 

(c)Conditions Precedent to Obligations of Both Parties

 

(i) Any consents necessary to consummate
the sale of the Shares shall have been received.

 

(ii) There must not be in effect any legal
requirement or any injunction or other order that (a) prohibits the sale of the Shares by the Sellers to the Purchaser and (b)
has been adopted or issued, or has otherwise become effective.

 

6.Indemnities.

 

(a) Subject to the terms and conditions
of this Agreement, from and after the Closing, the Sellers shall, jointly and severally, indemnify, defend and hold harmless the
Purchaser from and against and in respect of all Losses that the Purchaser shall incur, suffer, sustain or become subject to, arising
from, based on or resulting from (i) any breach of, or inaccuracy in, the representations and warranties of the Sellers made in
Section 3 of this Agreement or any certificate delivered by or on behalf of each Seller in connection herewith (in each case without
regard to any materiality qualifications contained in any such representation or warranty) and (ii) any breach of or non-fulfillment
of any agreement or covenant of the Sellers in this Agreement.

 

(b) Subject to the terms and conditions
of this Agreement, from and after the Closing, the Purchaser shall indemnify, defend and hold harmless the Sellers from and against
and in respect of all Losses that the Sellers shall incur, suffer, sustain or become subject to, arising from, based on or resulting
from (i) any breach of, or inaccuracy in, the representations and warranties of the Purchaser made in Section 4 of this Agreement
or any certificate delivered by or on behalf of the Purchaser in connection herewith (in each case without regard to any materiality
qualifications contained in any such representation or warranty) and (ii) any breach of or non-fulfillment of any agreement or
covenant of the Purchaser in this Agreement.

 

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7.Notices. Any notice,
request, instruction or other document to be given hereunder by a party hereto shall be in writing and shall be deemed to have
been given, (a) when received, if given in person or by a courier or a courier service, (b) on the date of transmission,
if sent by facsimile transmission or other means of electronic transmission (provided that the sending party retains written
evidence of confirmed transmission), or (c) when actually received, if mailed by first-class certified or registered United
States mail or recognized overnight courier service, postage-prepaid and return receipt requested, and all legal process with regard
hereto shall be validly served when served in accordance with applicable law, in the case of the Purchaser, to 1333 Corporate Drive,
Suite 325, Irving, TX 75238 Attention: Mr. Michael Rosentraub and, in the case of the Sellers, to Mr. Spencer Tucker at 5201 Briar
Tree Dallas, TX 75248 , and to Mr. Richard Backus at 2100 Delaford Drive Arlington, TX 76002, or, in either case, at such other
address as the recipient party may designate for such party in writing by notice to the other parties, given as herein provided.

 

8.Counterparts; Facsimile or Electronic
Signatures. This Agreement may be executed in two or more counterparts. Each such counterpart shall be deemed to be an
original, but all of which together shall constitute one and the same document. Executed counterparts to this Agreement transmitted
by facsimile or by electronic transmission of portable document format (PDF) files or tagged image file format (TIF) files
shall be deemed to be original signatures for all purposes.

 

9.GOVERNING LAW; VENUE. THIS
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO PRINCIPLES
OF CONFLICTS OF LAWS.

 

10.Entire Agreement. This
Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings between such parties with respect to such subject matter.

 

11.Severability. If any
provision of this Agreement shall be held invalid, illegal or unenforceable, the validity, legality and enforceability of the other
provisions hereof shall not be affected thereby.

 

12.Specific Performance.
Each party hereto acknowledges that it would be impossible to determine the amount of damages that would result from a breach
of any of the provisions of this Agreement and that the remedy at law for any breach, or threatened breach, of any of such provisions
would likely be inadequate and, accordingly, each other party shall, in addition to any other rights or remedies that it may have,
be entitled to seek such equitable and injunctive relief as may be available from any court of competent jurisdiction to compel
specific performance of, or restrain any party from violating, any of such provisions. In connection with any action or proceeding
for injunctive relief, each party hereto hereby waives the claim or defense that a remedy at law alone is adequate and, to the
maximum extent permitted by law, consents to have each provision of this Agreement specifically enforced against such party, without
the necessity of posting bond or other security against him or it, and consents to the entry of injunctive relief against him or
it enjoining or restraining any breach or threatened breach of any provision of this Agreement.

 

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13.Consent of the Issuer.
The Issuer hereby consents to the transfer of the Shares pursuant to this Agreement and undertakes to obtain any necessary
government or regulatory approvals.

 

 

 

[Signature Page Follows]

 

 

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IN WITNESS WHEREOF, the parties hereto
have caused this Agreement to be executed and delivered as of the date first above written.

 

 

	PURCHASER:
	 	 	 
	Homeowners of America Holding Company, Inc.
	 	 	 
	By:	 /s/ Michael Rosentraub	 
	Name:	 Michael Rosentraub	 
	Title:	 Chief Financial Officer	 

 

	SELLERS:	 
	 	 
	SPENCER TUCKER	 
	/s/ Spencer Tucker	 
	 	 
	RICHARD BACKUS	 
	/s/ Richard Backus	 

  

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Exhibit A

 

	Name of Seller	 	Number of Shares Sold 
	 	 	 
	Spencer Tucker	 	480,000
	 	 	 
	Rickard Backus	 	60,000

 

    	9Exhibit 10.1

 

PERSONAL EMPLOYMENT AGREEMENT

 

THIS PERSONAL
EMPLOYMENT AGREEMENT (the "Agreement") is made and entered into this 11th day of October, 2012 by
and between LabStyle Innovation Ltd., a company incorporated under the laws of the State of Israel, with its offices at
7 Menachem Begin St., Ramat Gan 52681, Israel (the "Company"), and Erez Raphael (Israeli I.D. No. _____________)
residing at Tavor 135, Nofit, Israel (the "Employee").

 

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

 

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

 

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

 

General

 

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

 

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

 

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

 

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

 

    	 

    	 

    

 

Term of Employment

 

 

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

 

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

 

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

 

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

 

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

 

Covenants

 

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

 

Special Agreement; Salary and Special
Compensation; Insurance

 

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

 

(b) Salary.
The Company shall pay to the Employee as compensation for the employment services an aggregate base salary in the amount set forth
in Exhibit A (the "Salary"). In addition, until October 1, 2012 (at such time the Company will
provide the Employee with the Car as set forth in Section 16 below) the Company shall pay the Employee for any and all daily travel
costs to which he may be entitled under any applicable law. Except as specifically set forth herein, the Salary includes any and
all payments to which the Employee is entitled from the Company hereunder and under any applicable law, regulation or agreement.
The Employee's Salary and other terms of employment may be reviewed and updated by the Company's management, from time to time,
at the Company's discretion. The Salary is to be paid to the Employee no later than the 9th day of each calendar month
after the month for which the Salary is paid, after deduction of applicable taxes and like payments.

 

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

 

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

 

Additional Benefits

 

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

 

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

 

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

 

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

 

16.            Company Car. As of October
1, 2012 the Company will provide the Employee with a car of make and model pursuant to Company's car policy, as adopted, as may
be amended from time to time by the Company (the "Car"). The Car shall belong to or be leased by the Company
and shall be registered in the Company’s name for use by the Employee during the period of his employment with the Company.
The Car will be returned to the Company by the Employee immediately after termination of the Employee's employment by the Company.
Use by the Employee of the Car shall be made at all times only in accordance with the provisions of the Company's Car policy,
as may be amended from time to time by the Company. The Company shall bear all the fixed and variable costs of the Car, including
licenses, insurance, gasoline, regular maintenance and repairs. The Company shall not, at any time, bear the costs of any tickets,
traffic offense or fines of any kind and insurance self participation payment. The Employee shall bear all the personal tax consequences
of the allocation of the Car to his benefit. Any expenses, payments or other benefits that are made in connection with the Car
shall not be regarded as part of the Salary, for any purpose or matter, and no social benefits or other payments shall be paid
on its account. It is hereby agreed that the Employee may waive his right to receive the Car in consideration for the receipt
of additional salary in the amount determined by the Company.

 

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

 

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Miscellaneous

 

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

 

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

 

	/s/ Shilo Ben
    Zeev	 	/s/ Erez Raphael
	LabStyle Innovation Ltd.	 	Erez Raphael
	By: 	Shilo Ben Zeev	 	 
	Title: 	President and COO	 	 

 

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Exhibit A

 

To the Personal Employment Agreement
by and between

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

 

	1.	Name of Employee:	Erez Raphael  	 
	 	 	 	 
	2.	I.D. No. of Employee:	 	 
	 	 	 	 
	3.	Address of Employee:	Tavor 135, Nofit, Israel	 
	 	 	 	 
	4.	Position in the Company:	VP Software Development   	 
	 	 	 	 
	5.	Under the Direct Direction of:	COO 	 
	 	 	 	 
	6.	Commencement Date:	October 11, 2012	 
	 	 	 	 
	7.	Notice Period:	30 days	 
	 	 	 	 
	8.	Salary:	NIS 30,000	 
	 	 	 	 
	9.	Vacation Days Per Year:	Pursuant to applicable law	 
	 	 	 	 
	10.	Sick Leave Days Per Year:	Pursuant to applicable law	 

 

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Exhibit B

 

To the Personal Employment Agreement
by and between

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

 

	Name of Employee:	Erez Raphael	 
	 	 	 
	I.D. No. of Employee:	 	 

 

	Date:	October 11, 2012 (the "Commencement Date")	 

 

General

 

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

 

Confidentiality; Proprietary Information

 

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

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

		4.	Employee recognizes that the
                                                                 Company received and will receive confidential or proprietary
                                                                 information from third parties, subject to a duty on the Company's
                                                                 part to maintain the confidentiality of such information and
                                                                 to use it only for certain limited purposes. In connection with
                                                                 such duties, such information shall be deemed Proprietary Information
                                                                 hereunder, mutatis mutandis.
	 	 	 

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

 

 

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

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

 

Disclosure and Assignment of Inventions

 

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

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

 

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

 

	None.	 
	 	 

 

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

		11.	Employee hereby irrevocably
                                                                  transfers and assigns to the Company all worldwide patents,
                                                                  patent applications, copyrights, mask works, trade secrets and
                                                                  other intellectual property rights in any Company Invention,
                                                                  and any and all moral rights that he may have in or with respect
                                                                  to any Company Invention. For the removal of any doubt, it is
                                                                  hereby clarified that the provisions concerning assignment of
                                                                  Inventions contained in Section 8 and this Section 0 will apply
                                                                  also to any "Service Inventions" as defined in the
                                                                  Israeli Patent Law, 1967 (the "Patent Law").
                                                                  However, in no event will such Service Invention become the
                                                                  property of the Employee and the provisions contained in Section 132(b)
                                                                  of the Patent Law shall not apply unless the Company provides
                                                                  in writing otherwise. The Employee will not be entitled to royalties
                                                                  or other payment with regard to any Prior Inventions, Company
                                                                  Inventions, Service Inventions or any of the intellectual property
                                                                  rights set forth above, including any commercialization of such
                                                                  Prior Inventions, Company Inventions, Service Inventions or
                                                                  other intellectual property rights. The Employee irrevocably
                                                                  confirms that the consideration explicitly set forth in the
                                                                  employment agreement is in lieu of any rights for compensation
                                                                  that may arise in connection with the Inventions under applicable
                                                                  law and the employee hereby expressly and irrevocably confirms
                                                                  that the provisions contained in Section 134 of the Patent Law
                                                                  shall not apply and he waives any right to claim royalties or
                                                                  other consideration with respect to any Invention.
	 	 	 

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

 

Non-Competition

 

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

 

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

 

Reasonableness of Protective Covenants

 

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

 

Remedies for Breach

 

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

 

Intent of Parties

 

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

 

 

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

 

	/s/ Erez Raphael	 
	Erez Raphael	 

 

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