Document:

Exhibit 10.21

 

indemnification
agreement

 

THIS INDEMNIFICATION AGREEMENT (the “Agreement”),
dated as of __________, 20__, is entered into by and between Nuvo Group Ltd., an Israeli company whose address is 94 Yigal Alon Street,
Tel-Aviv, Israel (the “Company”), and the undersigned Director or Officer of the Company whose name appears on the
signature page hereto officer (the “Indemnitee”).

 

		WHEREAS,	Indemnitee is an Office Holder (“Nosse Misra”), as
such term is defined in the Companies Law, 5759–1999, as amended (the “Office Holder”
and the “Companies Law” respectively), of the Company; 

 

		WHEREAS,	both the Company and Indemnitee recognize the increased risk of litigation
and other claims being asserted against Office Holders of companies and that highly competent persons have become more reluctant to serve
corporations as directors and officers or in other capacities unless they are provided with adequate protection through insurance or adequate
indemnification against inordinate risks of claims and actions against them arising out of their service to, and activities on behalf
of, companies; 

 

		WHEREAS,	the Amended and Restated Articles of Association of the Company (the
“Articles of Association”) authorize the Company to indemnify and advance expenses
to its Office Holders and provide for insurance and exculpation to its Office Holders, in each case, to the fullest extent permitted by
applicable law; 

 

		WHEREAS,	the Company has determined that (i) the increased difficulty in attracting
and retaining competent persons is detrimental to the best interests of the Company’s shareholders and that the Company should act
to assure such persons that there will be increased certainty of such protection in the future, and (ii) it is reasonable, prudent and
necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest
extent permitted by applicable law, so that they will serve or continue to serve the Company free from undue concern that they will not
be so indemnified; and

 

		WHEREAS,	in recognition of Indemnitee’s need for substantial protection
against personal liability in order to assure Indemnitee’s continued service to the Company in an effective manner and, in part,
in order to provide Indemnitee with specific contractual assurance that the indemnification, insurance and exculpation afforded by the
Articles of Association will be available to Indemnitee, the Company wishes to undertake in this Agreement for the indemnification of
and the advancing of expenses to Indemnitee to the fullest extent permitted by applicable law and as set forth in this Agreement and provide
for insurance and exculpation of Indemnitee as set forth in this Agreement.

 

NOW, THEREFORE, the parties hereto agree
as follows:

 

		1.	INDEMNIFICATION AND INSURANCE.

 

		1.1.	The Company hereby undertakes to indemnify Indemnitee to the fullest extent permitted by applicable law
for any liability and expense specified in Sections ‎1.1.1 through ‎1.1.4 below, imposed on Indemnitee due to or in connection
with an act performed by such Indemnitee, either prior to or after the date hereof, in Indemnitee’s capacity as an Office Holder,
including, without limitation, as a director, officer, employee, agent or fiduciary of the Company, any subsidiary thereof or any other
corporation, collaboration, partnership, joint venture, trust or other enterprise, in which Indemnitee serves at any time at the request
of the Company (the “Corporate Capacity”). The term “act performed in Indemnitee’s capacity as an Office
Holder” shall include, without limitation, any act, omission or failure to act and any other circumstances relating to or arising
from Indemnitee’s service in a Corporate Capacity. Notwithstanding the foregoing, in the event that the Office Holder is the beneficiary
of an indemnification undertaking provided by a subsidiary of the Company or any other entity with respect to his or her Corporate Capacity
with such subsidiary or entity, then the indemnification obligations of the Company hereunder with respect to such Corporate Capacity
shall only apply to the extent that the indemnification by such subsidiary or other entity does not actually fully cover the indemnifiable
liabilities and expenses relating thereto. The following shall be hereinafter referred to as “Indemnifiable Events”:

 

		1.1.1.	Financial liability imposed on Indemnitee in favor of any person pursuant to a judgment, including a judgment
rendered in the context of a settlement or an arbitrator’s award approved by a court. For purposes of Section ‎1 of this Agreement,
the term “person” shall include, without limitation, a natural person, firm, partnership, joint venture, trust, company,
corporation, limited liability entity, unincorporated organization, estate, government, municipality, or any political, governmental,
regulatory or similar agency or body;

 

     

     

    

 

		1.1.2.	Reasonable Expenses (as defined below) expended by Indemnitee as a result of an investigation or any proceeding
instituted against the Indemnitee by an authority that is authorized to conduct such investigation or proceeding, and that was concluded
without filing an indictment against the Indemnitee and without imposing on the Indemnitee a financial liability in lieu of a criminal
proceeding, or that was concluded without filing an indictment against the Indemnitee but imposing a financial liability in lieu of a
criminal proceeding in an offence that does not require proof of mens rea, or in connection with a financial sanction. In this
section “conclusion of a proceeding without filing an indictment in a matter in which a criminal investigation has been instigated”
and “financial liability in lieu of a criminal proceeding” shall have the meaning assigned to such terms under the Companies
Law, and the term “financial sanction” shall mean such term as referred to in Section 260(a)(1a) of the Companies Law;

 

		1.1.3.	Reasonable Expenses expended by or imposed on Indemnitee by a court, in a proceeding instituted against
Indemnitee by the Company or on its behalf or by another person, or in a criminal charge from which Indemnitee was acquitted or in which
Indemnitee convicted of an offence that does not require proof of mens rea; and

 

		1.1.4.	Any other event, occurrence, matter or circumstances under any law with respect to which the Company may,
or will be able to, indemnify an Office Holder (including, without limitation, in accordance with Section 56h(b)(1) of the Israeli Securities
Law 5728-1968 (the “Israeli Securities Law”), if applicable, and Section 50P(b)(2) of the Israeli Economic Competition
Law, 5758-1988 (the “Economic Competition Law”)).

 

For the purpose of this Agreement,
“Expenses” shall include, without limitation, legal fees and all other costs, expenses and obligations paid or incurred
by Indemnitee in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing
to defend, be a witness in or participate in any claim, action, suit, proceeding, alternative dispute resolution mechanism, hearing, inquiry
or investigation relating to any matter for which indemnification hereunder may be provided. Expenses shall be considered paid or incurred
by Indemnitee at such time as Indemnitee is required to pay or incur such cost or expenses, including upon receipt of an invoice or payment
demand. The Company shall pay the Expenses in accordance with the provisions of Section‎1.3.

 

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		1.2.	Notwithstanding anything herein to the contrary, the Company’s undertaking to indemnify the Indemnitee
under Section ‎1.1.1 shall only be with respect to events described in Exhibit A hereto. The Board of Directors of the
Company (the “Board”) has determined that the categories of events listed in Exhibit A are foreseeable in light of
the operations of the Company. The maximum amount of indemnification payable by the Company under Section ‎1.1.1 with respect to the
specific events described in Exhibit A during any period of five years, shall be as set forth in Exhibit A hereto (the “Limit
Amount”). If the Company undertook to indemnify multiple persons under agreements similar to this Agreement (the “Indemnifiable
Persons”) the Limit Amount for the five year period commencing on the closing of the first issuance and sale of the Company’s
ordinary shares to the public, pursuant to an effective registration statement under the United States Securities Act 1933, as amended,
or the securities law of any other jurisdiction, and for every subsequent five year period, shall apply to all Indemnifiable Persons,
in the aggregate, and if the Limit Amount is insufficient to cover all the indemnity amounts payable with respect to all Indemnifiable
Persons during the relevant five year period, then such amount shall be allocated to such Indemnifiable Persons pro rata according to
the percentage of their culpability, as finally determined by a court in the relevant claim, or, absent such determination or in the event
such persons are parties to different claims, based on an equal pro rata allocation among such Indemnifiable Persons. The Limit Amount
payable by the Company as described in Exhibit A is deemed by the Company to be reasonable in light of the circumstances. The indemnification
provided under Section ‎1.1.1 herein shall not be subject to the limitations imposed by this Section ‎1.2 and Exhibit A if
and to the extent such limits do not or are no longer required by the Companies Law.

 

		1.3.	If so requested by Indemnitee in writing, and subject to the Company’s repayment and reimbursements
rights set forth in Sections ‎3 and ‎5 below, the Company shall pay amounts to cover Indemnitee’s Expenses with respect
to which Indemnitee is entitled to be indemnified under Section ‎1.1 above, as and when incurred. The payments of such amounts shall
be made by the Company directly to the Indemnitee’s legal and other advisors, as soon as practicable, but in any event no later
than fifteen (15) days after written demand by such Indemnitee therefor to the Company, and any such payment shall be deemed to constitute
indemnification hereunder. As part of the aforementioned undertaking, the Company will make available to Indemnitee any security or guarantee
that Indemnitee may be required to post in accordance with an interim decision given by a court, governmental or administrative body,
or an arbitrator, including for the purpose of substituting liens imposed on Indemnitee’s assets.

 

		1.4.	The Company’s obligation to indemnify Indemnitee and advance Expenses in accordance with this Agreement
shall be for such period (the “Indemnification Period”) as Indemnitee shall be subject to any actual, possible or threatened
claim, action, suit, demand or proceeding or any inquiry or investigation, whether civil, criminal or investigative, arising out of the
Indemnitee’s service in the Corporate Capacity as described in Section ‎1.1 above, whether or not Indemnitee is still serving
in such position.

 

		1.5.	The Company undertakes that, subject to the mandatory limitations under applicable law, as long as it
may be obligated to provide indemnification and advance Expenses under this Agreement, the Company will purchase and maintain in effect
directors and officers liability insurance, which will include coverage for the benefit of the Indemnitee, providing coverage in amounts
as reasonably determined by the Board; provided that, the Company shall have no obligation to obtain or maintain directors and officers
insurance policy if the Company determines in good faith that such insurance is not reasonably available, the premium costs for such insurance
are disproportionate to the amount of coverage provided, or the coverage provided by such insurance is so limited by exclusions that it
provides an insufficient benefit. The Company hereby undertakes to notify the Indemnitee 30 days prior to the expiration or termination
of the directors and officers liability insurance.

 

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		1.6.	The Company undertakes to give prompt written notice of the commencement of any claim hereunder to the
insurers in accordance with the procedures set forth in each of the policies. The Company shall thereafter diligently take all actions
reasonably necessary under the circumstances to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of
such action, suit, proceeding, inquiry or investigation in accordance with the terms of such policies. The above shall not derogate from
Company’s authority to freely negotiate or reach any compromise with the insurer which is reasonable at the Company’s sole
discretion provided that the Company shall act in good faith and in a diligent manner.

 

		2.	SPECIFIC LIMITATIONS ON INDEMNIFICATION.

 

Notwithstanding anything to the contrary
in this Agreement, the Company shall not indemnify or advance Expenses to Indemnitee with respect to (i) any act, event or circumstance
with respect to which it is prohibited to do so under applicable law, or (ii) a counter claim made by the Company or in its name in connection
with a claim against the Company filed by the Indemnitee.

 

		3.	REPAYMENT OF EXPENSES.

 

		3.1.	In the event that the Company provides or is required to provide indemnification with respect to Expenses
hereunder and at any time thereafter the Company determines, based on advice from its legal counsel, that the Indemnitee was not entitled
to such payments, the amounts so indemnified by the Company will be promptly repaid by Indemnitee, unless the Indemnitee disputes the
Company’s determination, in which case the Indemnitee’s obligation to repay to the Company shall be postponed until such dispute
is resolved.

 

		3.2.	Indemnitee’s obligation to repay to the Company for any Expenses or other sums paid hereunder shall
be deemed as a loan given to Indemnitee by the Company subject to the minimum interest rate prescribed by Section 3(9) of the Income Tax
Ordinance [New Version], 1961, or any other legislation replacing it, which is not considered a taxable benefit.

 

		4.	SUBROGATION.

 

In the event of payment
under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who
shall execute all documents required and shall do everything that may be necessary to secure such rights, including the execution of such
documents necessary to enable the Company effectively to bring suit to enforce such rights.

 

		5.	REIMBURSEMENT.

 

The Company shall not be liable under
this Agreement to make any payment in connection with any Indemnifiable Event to the extent Indemnitee has otherwise actually received
payment under any insurance policy or otherwise (without any obligation of Indemnitee to repay any such amount) of the amounts otherwise
indemnifiable hereunder. Any amounts paid to Indemnitee under such insurance policy or otherwise after the Company has indemnified Indemnitee
for such liability or Expense shall be repaid to the Company promptly upon receipt by Indemnitee, in accordance with the terms set forth
in Section ‎3.2.

 

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The Company hereby acknowledges that
the Indemnitee has now or may have in the future certain rights to indemnification, advancement of expenses and/or insurance provided
by third parties (the “Third Party Indemnitor”), and the Company hereby agrees (i) that the Company is the indemnitor
of first resort (i.e., its obligations to the Indemnitee are primary and any obligation of any Third Party Indemnitor to advance expenses
or to provide indemnification for the same expenses or liabilities incurred by the Indemnitee are secondary), (ii) it shall be required
to advance the full amount of expenses incurred by the Indemnitee and shall be liable for the full amount of all expenses, judgments,
penalties, fines and amounts paid in settlement to the fullest extent legally permitted and as required by the terms of this Agreement
and/or the Articles of Association (or any other agreement between the Company and the Indemnitee), without regard to any rights
the Indemnitee may have against the Third Party Indemnitors, and (iii) that it irrevocably waives, relinquishes and releases any
Third Party Indemnitor from any and all claims against any Third Party Indemnitor for contribution, subrogation or any other recovery
of any kind of respect of the subject matters of this Agreement. Without altering or expanding any of the Company’s indemnification
obligations hereunder, the Company further agrees that no advancement or payment by any Third Party Indemnitor on the Indemnitee’s
behalf with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and any Third
Party Indemnitor shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights
of recovery of the Indemnitee against the Company. The Company and the Indemnitee agree that the Third Party Indemnitors are express third
party beneficiaries of the terms of this Section 5.

 

		6.	EFFECTIVENESS.

 

The Company represents and warrants
that this Agreement is valid, binding and enforceable in accordance with its terms and was duly adopted and approved by the Company, and
shall be in full force and effect immediately upon its execution.

 

		7.	NOTIFICATION AND DEFENSE OF CLAIM.

 

Indemnitee shall notify the Company
of the commencement of any action, suit or proceeding, and of the receipt of any notice or threat that any such legal proceeding has been
or shall or may be initiated against Indemnitee (including any proceedings by or against the Company and any subsidiary thereof), promptly
upon Indemnitee first becoming so aware; but the omission so to notify the Company will not relieve the Company from any liability which
it may have to Indemnitee under this Agreement unless and to the extent that such failure to provide notice prejudices the Company’s
ability to defend such action. Notice to the Company shall be directed to the Chief Executive Officer or Chief Financial Officer of the
Company at the address shown in the preamble to this Agreement (or such other address as the Company shall designate in writing to Indemnitee).
With respect to any such action, suit or proceeding as to which Indemnitee notifies the Company of the commencement thereof and without
derogating from Sections ‎1.1 and ‎2:

 

		7.1.	The Company will be entitled to participate therein at its own expense.

 

		7.2.	Except as otherwise provided below, the Company, alone or jointly with any other indemnifying party similarly
notified, will be entitled to assume the defense thereof, with counsel selected by the Company. Indemnitee shall have the right to employ
his or her own counsel in such action, suit or proceeding, but the fees and expenses of such counsel incurred after notice from the Company
of its assumption of the defense thereof shall be at the expense of Indemnitee, unless: (i) the employment of counsel by Indemnitee
has been authorized in writing by the Company; (ii) the Company, in good faith, reasonably concluded that there may be a conflict of interest
between the Company and Indemnitee in the conduct of the defense of such action; or (iii) the Company has not in fact employed counsel
to assume the defense of such action within reasonable time, in which cases the reasonable fees and expenses of Indemnitee’s counsel
shall be at the expense of the Company. The Company shall not be entitled to assume the defense of any action, suit or proceeding brought
by or on behalf of the Company or as to which Indemnitee and the Company shall have reached the conclusion specified in (ii) above.

 

		7.3.	The Company shall not be liable to indemnify Indemnitee under this Agreement for any amounts or expenses
paid in connection with a settlement of any action, claim or otherwise, effected without the Company’s prior written consent.

 

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		7.4.	The Company shall have the right to conduct the defense as it sees fit in its sole discretion (provided
that the Company shall conduct the defense in good faith and in a diligent manner), including the right to settle or compromise any claim
or to consent to the entry of any judgment against Indemnitee without the consent of the Indemnitee, provided that, the amount of such
settlement, compromise or judgment does not exceed the Limit Amount (if applicable) and is fully indemnifiable pursuant to this Agreement
(subject to Section ‎1.2 of this Agreement) and/or applicable law, and any such settlement, compromise or judgment does not impose
any penalty or limitation on Indemnitee without the Indemnitee’s prior written consent. The Indemnitee’s consent shall not
be required if the settlement includes a complete release of Indemnitee, does not contain any admission of wrong-doing by Indemnitee,
and includes monetary sanctions only as provided above. In the case of criminal proceedings the Company and/or its legal counsel will
not have the right to plead guilty or agree to a plea-bargain in the Indemnitee’s name without the Indemnitee’s prior written
consent. Neither the Company nor Indemnitee will unreasonably withhold or delay their consent to any proposed settlement.

 

		7.5.	Indemnitee shall fully cooperate with the Company and shall give the Company all information and access
to documents, files and to his or her advisors and representatives as shall be within Indemnitee’s power, in every reasonable way
as may be required by the Company with respect to any claim which is the subject matter of this Agreement and in the defense of other
claims asserted against the Company (other than claims asserted by Indemnitee), provided that the Company shall cover all expenses, costs
and fees incidental thereto such that the Indemnitee will not be required to pay or bear such expenses, costs and fees.

 

		8.	EXCULPATION.

 

Subject to the provisions of the Companies
Law, the Company hereby releases, in advance, the Office Holder from liability for any damage that arises from the breach of the Office
Holder’s duty of care (within the meaning of such terms under Sections 252 and 253 of the Companies Law), other than breach of the
duty of care towards the Company in a distribution (as such term is defined in the Companies Law).

 

		9.	NON-EXCLUSIVITY.

 

The rights of the Indemnitee hereunder
shall not be deemed exclusive of any other rights Indemnitee may have under the Articles of Association, applicable law or otherwise,
and to the extent that during the Indemnification Period the indemnification rights of the then serving directors and officers
are more favorable to such directors or officers than the indemnification rights provided under this Agreement to Indemnitee, Indemnitee
shall be entitled to the full benefits of such more favorable indemnification rights to the extent permitted by law.

 

		10.	PARTIAL INDEMNIFICATION.

 

If Indemnitee is entitled under any
provision of this Agreement to indemnification by the Company for some or a portion of the expenses, judgments, fines or penalties actually
or reasonably incurred by Indemnitee in connection with any proceedings, but not, however, for the total amount thereof, the Company shall
nevertheless indemnify Indemnitee for the portion of such expenses, judgments, fines or penalties to which Indemnitee is entitled under
any provision of this Agreement. Subject to the provisions of Section ‎5 above, any amount received by Indemnitee (under any insurance
policy or otherwise) shall not reduce the Limit Amount hereunder and shall not derogate from the Company’s obligation to indemnify
the Indemnitee in accordance with the provisions of this Agreement up to the Limit Amount, as set forth in Section ‎1.2.

 

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		11.	BINDING EFFECT.

 

This Agreement shall be binding upon
and inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns. In the event
of a merger or consolidation of the Company or a transfer or disposition of all or substantially all of the business or assets of the
Company, the Indemnitee shall be entitled to the same indemnification and insurance provisions as the most favorable indemnification and
insurance provisions afforded to the then-serving Office Holders of the Company. In the event that in connection with such transaction
the Company purchases a directors and officers’ “tail” or “run-off” policy for the benefit of its then serving
Office Holders, then such policy shall cover Indemnitee and such coverage shall be deemed to be in satisfaction of the insurance requirements
under this Agreement. This Agreement shall continue in effect during the Indemnification Period regardless of whether Indemnitee continues
to serve in a Corporate Capacity.

 

Any amendment to the Companies Law,
the Israeli Securities Law, the Economic Competition Law or other applicable law adversely affecting the right of the Indemnitee to be
indemnified, insured or released pursuant hereto shall be prospective in effect, and shall not affect the Company’s obligation or
ability to indemnify or insure the Indemnitee for any act or omission occurring prior to such amendment, unless otherwise provided by
applicable law.

 

		12.	SEVERABILITY.

 

The provisions of this Agreement shall
be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other
provisions hereof. If any provision of this Agreement, or the application thereof or any circumstance, is invalid or unenforceable, (a)
a suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent
and purpose of such invalid or unenforceable provision and (b) the remainder of this Agreement and the application of such provision or
circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity
or enforceability of such provision, or the application thereof, in any other jurisdiction.

 

		13.	NOTICE.

 

All notices and other communications
pursuant to this Agreement shall be in writing and shall be deemed provided if delivered personally, telecopied, sent by electronic facsimile,
email, reputable overnight courier or mailed by registered or certified mail (return receipt requested), postage prepaid, to the parties
at the addresses shown in the preamble to this Agreement, or to such other address as the party to whom notice is to be given may have
furnished to the other party hereto in writing in accordance herewith. Any such notice or communication shall be deemed to have been delivered
and received (i) in the case of personal delivery, on the date of such delivery, (ii) in the case of telecopier or an electronic facsimile
or email, one business day after the date of transmission if confirmation of receipt is received, (iii) in the case of a reputable overnight
courier, three business days after deposit with such reputable overnight courier service, and (iv) in the case of mailing, on the seventh
business day following that on which the mail containing such communication is posted.

 

		14.	GOVERNING LAW; JURISDICTION.

 

This Agreement shall be governed by
and construed and enforced in accordance with the laws of the State of Israel, without giving effect to the conflicts of law provisions
of those laws. The Company and Indemnitee each hereby irrevocably consent to the exclusive jurisdiction and venue of the courts of Tel
Aviv, Israel for all purposes in connection with any action or proceeding which arises out of or relates to this Agreement.

 

		15.	ENTIRE AGREEMENT.

 

This Agreement represents the entire
agreement between the parties and supersedes any other agreements, contracts or understandings between the parties, whether written or
oral, with respect to the subject matter of this Agreement.

 

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		16.	NO MODIFICATION AND NO WAIVER.

 

No supplement, modification or amendment,
termination or cancellation of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of
any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar)
nor shall such waiver constitute a continuing waiver. Any waiver shall be in writing. The Company hereby undertakes not to amend its Articles
of Association in a manner which will adversely affect the provisions of this Agreement.

 

		17.	ASSIGNMENTS; NO THIRD PARTY RIGHTS

 

Neither party hereto may assign any
of its rights or obligations hereunder except with the express prior written consent of the other party. Nothing herein shall be deemed
to create or imply an obligation for the benefit of a third party, except as set forth in Section 5. Without limitation of the foregoing,
nothing herein shall be deemed to create any right of any insurer that provides directors and officers’ liability insurance, to
claim, on behalf of Indemnitee, any rights hereunder.

 

		18.	INTERPRETATION; DEFINITIONS.

 

Unless the context
shall otherwise require: words in the singular shall also include the plural, and vice versa; any pronoun shall include the corresponding
masculine, feminine and neuter forms; the words “include”, “includes” and “including” shall be deemed
to be followed by the phrase “without limitation”; the words “herein”, “hereof” and “hereunder”
and words of similar import refer to this Agreement in its entirety and not to any part hereof; all references herein to Sections or clauses
shall be deemed references to Sections or clauses of this Agreement; any references to any agreement or other instrument or law, statute
or regulation are to it as amended, supplemented or restated, from time to time (and, in the case of any law, to any successor provisions
or re-enactment or modification thereof being in force at the time); any reference to “law” shall include any supranational,
national, federal, state, local, or foreign statute or law and all rules and regulations promulgated thereunder; any reference to a “day”
or a number of “days” (without any explicit reference otherwise, such as to business days) shall be interpreted as a reference
to a calendar day or number of calendar days; reference to month or year means according to the Gregorian calendar; reference to a “company”,
“corporate body” or “entity” shall include a, partnership, firm, company, corporation, limited liability company,
association, joint venture, trust, unincorporated organization, estate, or a government municipality or any political, governmental, regulatory
or similar agency or body, and reference to a “person” shall mean any of the foregoing or a natural person.

 

		19.	COUNTERPARTS

 

This Agreement may be executed in
any number of counterparts, each of which shall be deemed an original and enforceable against the parties actually executing such counterpart,
and all of which together shall constitute one and the same instrument; it being understood that parties need not sign the same counterpart.
The exchange of an executed Agreement (in counterparts or otherwise) by facsimile or by electronic delivery in pdf format shall be sufficient
to bind the parties to the terms and conditions of this Agreement, as an original.

 

[SIGNATURE PAGE TO FOLLOW]

 

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IN WITNESS WHEREOF,
the parties, each acting under due and proper authority, have executed this Indemnification Agreement as of the date first mentioned above,
in one or more counterparts.

 

	Nuvo Group Ltd.	 
	 	 
	By:	 	 
	Name and title:	 	 

 

	Indemnitee:	 
	 	 
	Name:	 	 
	Signature:	 	 
	Address:	 	 

 

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EXHIBIT
A*

 

	
     

     
	CATEGORY OF INDEMNIFIABLE EVENT
	1.	Matters, events, occurrences or circumstances in connection or associated with employment relationships with employees or consultants or any employee union or similar or comparable organization. 
	 	 
	2.	Matters, events, occurrences or circumstances in connection or associated with business relations of any kind between the Company and its employees, independent contractors, customers, suppliers, partners, distributors, agents, resellers, representatives, licensors, licensees, service providers and other business associates.
	 	 
	3.	Negotiations, execution, delivery and performance of agreements of any kind or nature and any decisions or deliberations relating to actions or omissions relating to the foregoing; any acts, omissions or circumstances that do or may constitute or are alleged to constitute anti-competitive acts, acts of commercial wrongdoing, or failure to meet any standard of conduct which is or may be applicable to such acts, omissions or circumstances.
	 	 
	4.	Approval of and recommendation or information provided to shareholders with respect to any and all corporate actions, including the approval of the acts of the Company’s management, their guidance and their supervision, matters relating to the approval of transactions with Office Holders (including, without limitation, all compensation related matters) or shareholders, including controlling persons and claims and allegations of failure to exercise business judgment, reasonable level of proficiency, expertise, care or any other applicable standard, with respect to the foregoing or otherwise with respect to the Company’s business, strategy, operations and prospective outlook, and any discussions, deliberations, reviews or other preparatory or preliminary phases relating to any of the foregoing.  
	 	 
	5.	Violation, infringement, misappropriation, dilution and other misuse of copyrights, patents, designs, trade secrets, confidential information, proprietary information and any intellectual property rights, acts in connection with the registration, assertion or protection of rights to intellectual property and the defense of claims related to intellectual property, breach of confidentiality obligations, acts in regard of invasion of privacy or any violation of privacy or privacy related right or regulation, including with respect to databases or handling, collection or use of private information, acts in connection with slander and defamation, and claims in connection with publishing or providing any information, including any filings with any governmental authorities, whether or not required under any applicable laws.
	 	 
	6.	Violations of or failure to comply with securities laws, and any regulations or other rules promulgated thereunder, of any jurisdiction, including without limitation, claims under the U.S. Securities Act of 1933 or the U.S. Exchange Act of 1934 or under the Israeli Securities Law, fraudulent disclosure claims, failure to comply with any securities authority or any stock exchange disclosure or other rules and any other claims relating to relationships with investors, debt holders, shareholders, optionholders, holders of any other equity or debt instrument of the Company, and otherwise with the investment community (including without limitation any such claims relating to a merger, acquisition, change in control transaction, issuance of securities, restructuring, spin out, spin off, divestiture, recapitalization or any other transaction relating to the corporate structure or organization of the Company); claims relating to or arising out of financing arrangements, any breach of financial covenants or other obligations towards investors, lenders or debt holders, class actions, violations of laws requiring the Company to obtain regulatory and governmental licenses, permits and authorizations in any jurisdiction, including in connection with disclosure, offering or other transaction related documents; actions taken in connection with the issuance, purchase, holding or disposition of any type of securities of Company, including, without limitation, the grant of options, warrants or other rights to purchase any of the same or any offering of the Company’s securities (whether on behalf of the Company or on behalf of any holders of securities of the Company) to private investors, underwriters, resellers or to the public, and listing of such securities, or the offer by the Company to purchase securities from the public or from private investors or other holders, and any undertakings, representations, warranties and other obligations related to any of the foregoing or to the Company’s status as a public company or as an issuer of securities.

 

    	 	- 10 -	 

     

    

 

	7.	Liabilities arising in connection with any products or services developed, distributed, rendered, sold, provided, licensed or marketed by the Company or any Affiliate thereof, and any actions or omissions in connection with the distribution, provision, sale, marketing, license or use of such products or services, including without limitation in connection with professional liability and product liability claims or regulatory or reputational matters.
	 	 
	8.	The offering of securities by the Company (whether on behalf of itself or on behalf of any holder of securities and any other person) to the public and/or to offerees or the offer by the Company to purchase securities from the public and/or from private investors or other holders pursuant to a prospectus, offering documents, agreements, notices, reports, tenders and/or other processes.
	 	 
	9.	Events, facts or circumstances in connection with change in ownership or in the structure of the Company, its reorganization, dissolution, winding up, any other arrangements concerning creditors rights, merger, change in control, issuances of securities, restructuring, spin out, spin off, divestiture, recapitalization or any other transaction relating to the corporate structure or organization of the Company, and the approval of failure to approve of any corporate actions and any matters relating to corporate governance, capital structure, articles of association or other charter or governance documents, appointment or dismissal of office holders or compensation thereof and appointment or dismissal of auditors, internal auditor or any other person performing any services for the Company.     
	 	 
	10.	Any claim or demand made in connection with any transaction not in the ordinary course of business of the Company, as well as the sale, lease, purchase or acquisition of, or the receipt or grant of any rights with respect to, any assets or business.
	 	 
	11.	Any claim or demand made by any third party suffering any personal injury and/or bodily injury or damage to business or personal property or any other type of damage through any act or omission attributed to the Company, or its employees, agents or other persons acting or allegedly acting on its behalf, including, without limitation, failure to make proper safety arrangements for the Company or its employees and liabilities arising from any accidental or continuous damage or harm to the Company’s employees, its contractors, its guests and visitors as a result of an accidental or continuous event, or employment conditions, permanent or temporary, in the Company’s offices.
	 	 
	12.	Any claim or demand made directly or indirectly in connection with complete or partial failure, by the Company or its directors, officers and employees, to pay, report, keep applicable records or otherwise, of any local or foreign federal, state, county, municipal or city taxes or other taxes or compulsory payments of any nature whatsoever, including, without limitation, income, sales, use, transfer, excise, value added, registration, severance, stamp, occupation, customs, duties, real property, personal property, capital stock, social security, unemployment, disability, payroll or employee withholding or other withholding, including any interest, penalty or addition thereto, whether disputed or not.

 

    	 	- 11 -	 

     

    

 

	13.	Any administrative, regulatory, judicial or civil actions orders,decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance or violation by any governmental entity or other person alleging potential responsibility or liability (including potential responsibility or liability for costs of enforcement investigation, cleanup, governmental response, removal or remediation, for natural resources damages, property damage, personal injuries or penalties or for contribution,  indemnification, cost recovery, compensation or injunctive relief) arising out of, based on or related to (a) the presence of, release, spill, emission, leaning, dumping, pouring, deposit, disposal, discharge, leaching or migration into the environment (each a “Release”) or threatened Release of, or exposure to, any hazardous, toxic, explosive or radioactive substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing material, polychlorinated biphenyls (“PCBs”) or PCB-containing materials or equipment, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any environmental law, at any location, whether or not owned, operated, leased or managed by the Company or any of its subsidiaries, or (b) circumstances forming the basis of any violation of any environmental law or environmental permit, license, registration or other authorization required under applicable environmental law.
	 	 
	14.	Any administrative, regulatory or judicial actions, orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance or violation by any governmental or regulatory entity or authority or any other person alleging the failure to comply with any statute, law, ordinance, rule, regulation, order or decree of any governmental entity applicable to the Company or any of its businesses, assets or operations, or the terms and conditions of any operating certificate or licensing agreement.
	 	 
	15.	Participation and/or non-participation at Company Board meetings,  expression of opinion or view and/or voting and/or abstention from voting at Company Board meetings, including, in each case, any committee thereof, as well as expression of opinion publicly in connection with the service as an Office Holder.
	 	 
	16.	Review and approval of the Company’s financial statements and any specific items or matters within, including any action, consent or approval related to or arising from the foregoing, including, without limitations, engagement of or execution of certificates for the benefit of third parties related to the financial statements.  
	 	 
	17.	Violation of laws, rules or regulations requiring the Company to obtain regulatory and governmental licenses, permits and authorizations (including without limitation relating to export, import, encryption, antitrust or competition authorities) or laws related to any governmental grants in any jurisdiction. 
	 	 
	18.	Resolutions and/or actions relating to investments in the Company and/or its subsidiaries and/or affiliated companies and/or investment in corporate or other entities and/or investments in other traded or non-traded securities and/or any other form of investment.   
	 	 
	19.	Liabilities arising out of advertising, including misrepresentations regarding the Company's products or services and unlawful distribution of emails.
	 	 
	20.	Management of the Company’s bank accounts, including money management, foreign currency deposits, securities, loans and credit facilities, credit cards, bank guarantees, letters of credit, consultation agreements concerning investments including with portfolio managers, hedging transactions, options, futures, and the like.
	 	 
	21.	All actions, consents and approvals, including any prior discussions, reviews and deliberations, relating to a distribution of dividends, in cash or otherwise, or to any other "distribution" as such term is defined under the Companies Law.
	 	 
	22.	Any administrative, regulatory, judicial, civil or criminal, actions orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance, violation or breaches alleging potential responsibility, liability, loss or damage (including potential responsibility or liability for costs of enforcement, investigation, cleanup, governmental response, removal or remediation, property damage or penalties, or for contribution,  indemnification, cost recovery, compensation or injunctive relief), whether alleged or claimed by customers, consumers, regulators, shareholders or others, arising out of, based on or related to: (a) cyber security, cyber attacks, data loss or breaches, unauthorized access to information, data, or databases (including but not limited to any personally identifiable information or private health information) and use or disclosure of information contained therein, not preventing or detecting the breach or failing to otherwise disclose or respond to the breach; (b) circumstances forming the basis of any violation of any law, permit, license, registration or other authorization required under applicable law governing data security, data protection, network security, information systems, privacy or any cyber environment (including, users, networks, devices, software, processes, information systems, databases, information in storage or transit, applications, services, and systems that can be connected directly or indirectly to networks); (c) failure to implement a reporting system or control, or failure to monitor or oversee the operation of such a system; (d) data destruction, extortion, theft, hacking, and denial of service attacks; losses or liabilities to others caused by errors and omissions, failure to safeguard data or defamation; or (e) security-audit, post-incident public relations and investigative expenses, criminal reward funds, data breach/privacy crisis management (including, management of an incident, investigation, remediation, data subject notification, call management, credit checking for data subjects, legal costs, court attendance and regulatory fines), extortion liability (including, losses due to a threat of extortion, professional fees related to dealing with the extortion), or network security liability (including, losses as a result of denial of access, costs related to data on third-parties and costs related to the theft of data on third-party systems).

 

    	 	- 12 -	 

     

    

 

	 	
    The Limit Amount for all Indemnifiable Persons
    during each relevant period referred to in Section 1.2 of the Indemnification Agreement for all events described in this Exhibit A (in
    Sections 1-22 (inclusive) above), shall be the greater of:

     

    (a) twenty-five
    percent (25%) of the Company’s total shareholders’ equity according to the Company’s most recent financial statements
    as of the time of the actual payment of indemnification;

     

    (b) US$100 million;

     

    (c) ten percent (10%)
    of the Company Total Market Cap (which shall mean the average closing price of the Company’s ordinary shares over the 30 trading
    days prior to the actual payment of indemnification multiplied by the total number of issued and outstanding shares of the Company as
    of the date of actual payment); and

     

    (d) in connection
    with or arising out of a public offering of the Company’s securities, the aggregate amount of proceeds from the sale by the Company
    and/or any shareholder of Company’s securities in such offering.

 

		*	Any reference in this Exhibit A to the Company shall include the Company and any entity in which the Indemnitee
serves in a Corporate Capacity.

 

    	 	- 13 -Exhibit 10.22

 

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 [***].

 

	 	

 

MEMORANDUM
OF UNDERSTANDING

 

Nuvo
and Babyscripts

 

Dated:
September __, 2021 (“Effective Date”)

 

	Item	Description
	Background
    on Nuvo	NUVO
    Group Ltd. (“Nuvo”) has developed proprietary remote patient monitoring tools which are designed to advance pregnancy
    care into the 21st century. Nuvo’s flagship FDA-cleared solution, INVU by Nuvo (“INVU”), which
    enables self-administered fetal viability checks, embraces the mother as the point of care and allows data to travel to an
    OB/Extended Care team through a self-administered, connected remote pregnancy monitoring and management platform. In addition
    to the foregoing, Nuvo has unique competencies in big data/AI tools, research partnerships and clinical validation, and a
    robust set of medical and strategic advisors.
	Background
    on Babyscripts	1EQ
    Inc. (“Babyscripts”) has sought to rethink the delivery of pregnancy care through the power of technology and
    remote patient monitoring to address the critical shortage of obstetrical providers in the U.S. Babyscripts utilizes a three-tiered
    approach focused on unique engagement and compliance pathways, triage protocols, and collaborative care models that allows
    providers to deliver risk-specific care to pregnant mothers at any time, in any place, through a mobile app and internet-connected
    monitoring devices. Babyscripts’ solutions are installed in over 73 healthcare systems throughout the US, and it has
    been involved in the management of over 200,000 pregnancies to date. In addition to the foregoing, Babyscripts has demonstrated
    strong commercial capabilities in selling, research, clinical validation, workflow integration, enterprise contracting, logistics,
    and customer care/support.
	Joint
    Vision/Scope	The
    parties desire to build a collaboration that seeks to combine Nuvo’s technology together with Babyscripts’ commercial
    ecosystem with the singular goal of advancing pregnancy care delivery and improving health/economic outcomes and the patient
    experience, by providing a comprehensive remote pregnancy care platform that consists of [***]. The consummation
    of the transactions described in this Memorandum of Understanding (“MoU”) is subject to the negotiation and execution
    of at least one definitive pilot agreement among Nuvo, Babyscripts and the pilot partner (the “Pilot Agreement”),
    and, following the expiration of the term of the last Pilot Agreement undertaken by the Parties (if executed by the parties),
    and provided that the parties agree that the transactions undertaken pursuant to the Pilot Agreement(s) have been mutually
    beneficial, the negotiation and execution of a definitive long-term value-added reseller agreement (“VAR Agreement”
    and, collectively, with the Pilot Agreement(s), the
    “Definitive Agreements”), each as described below. The parties shall endeavor to enter into at least one Pilot
    Agreement on or before the date that is 60 days after the Effective Date, as such date may be extended by mutual written agreement
    of the parties (the “Pilot Negotiation Period”).

 

    1

    
	 	

 

    

 

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 [***]. 

 

	First
    Pilot Module	After
                                         the parties sign the MOU, Nuvo and BabyScripts would agree on the following (or substantially
                                         similar terms) for the first pilot modules thereunder, as well as other terms which are
                                         standard and customary for agreements of such nature:

     

    -
    Babyscripts would promote a pilot joint technology services offering to certain mutually agreed-upon third parties (each a
    “Pilot”) consisting of Nuvo’s INVU (remote patient management solution) [***].

     

    - [***].

     

    - [***].

     

    -
    The     objectives of the Pilot would be to: [***].

     

    -
    BabyScripts     and Nuvo have jointly identified the following parties as potential Pilot partners (“Pilot
    Partners”) under one     or more Pilot Agreements (if executed) among possible healthcare systems and private practice
    networks:

     

	 	 	●	[***]
	 	 	●	[***]
	 	 	●	[***]
	 	

                                                                                 

                                                                                - In order to onboard the first patient, the parties will enter into the Pilot Agreement and if the Pilot is approved by one of the prospective Pilot Partners referenced above (or others that are mutually added by the parties), Nuvo and Babyscripts would carry out a basic integration of INVU within Babyscripts’ environment under the Pilot Agreement to endeavor to ensure viability of the INVU solution as delivered by Babyscripts and supported by Nuvo. The parties expect that such integration would take approximately [***] to complete.

	 	 

                                                                                - [***] would pay for all costs and expenses [***] arising from any integration of the Babyscripts’ solution with/into the Pilot partner’s system.

 

    2

    
	 	

 

    

 

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 [***]. 

 

	Long-Term
    Business Sustainability Model; VAR Agreement	Following
                                         a successful Pilot under one or more Pilot Agreements with [***] evidence
                                         supporting the adoption of INVU, Babyscripts and Nuvo would endeavor [***] to
                                         negotiate and enter into a VAR Agreement under which they would jointly approach third-party
                                         payers for their endorsement of INVU (which is intended to facilitate easier adoption
                                         by such providers).

     

    Under
    the VAR Agreement (if executed by the parties), the evidence-based results that Nuvo and Babyscripts would endeavor to deliver
    to third-party payers would be intended to include the following:

     

    - [***] 

     

    - [***]

     

    - [***]

     

    - [***]

     

    Under
the VAR Agreement, Babyscripts and Nuvo would also continue to market the combined (Babyscripts/INVU) offering to providers [***].

	Defining
    Success under the Pilot Agreement	Under
the terms of the MOU, the Pilot would be deemed successful by the parties [***]:

	 	 	1.	[***]
	 	 	2.	[***]
	 	 	3.
    	[***]
	 	 	4.
    	[***]

 

    3

    
	 	

 

    

 

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 [***]. 

 

	Term
    of Pilot Agreement	Nuvo and Babyscripts envision their collaboration under the MOU and
Pilot Agreement(s) to run for an [***]. The Initial Term would be comprised of approximately: [***].

 

    During
    the Pilot Negotiation Period:

     

    -
    [***]

 

    -
[***]

     

    -
[***]

	Ownership	-
Under the Definitive Agreements, each party would retain ownership over the technology solutions (the “IP”) that it owned
prior to the start of the collaboration hereunder, [***].

     

    -
In the event new technologies are jointly developed by the parties under the Definitive Agreement(s) (which do not constitute derivative
works, improvements or modifications of either party’s existing IP) (the “New IP”) during the course of the Pilot or
VAR Agreement, as applicable, the parties [***].

	NDA	The
    parties agree to the terms of the Mutual Non-Disclosure Agreement (the “NDA”) set forth in Exhibit A attached
    hereto which is incorporated herein by reference.
    The NDA supersedes any prior confidentiality agreements executed by the parties.

 

    4

    
	 	

 

    

 

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 [***]. 

 

	PR/Marketing	Following
    the parties’ execution of this MOU, they shall issue a mutually- approved joint press release announcing the Pilot described
    above. Each party shall also be permitted to place the other’s logo on its marketing materials and collateral (e.g.,
    website) for as long as the Pilot is ongoing.

 

Following
the Effective Date, the parties shall endeavor in good faith to negotiate the terms of, and enter into, one or more Pilot Agreements,
including the applicable terms generally described in this MoU, as well as indemnification, intellectual property-related terms,
representations and warranties, restrictions, disclaimers, and other provisions that are customary for agreements of such nature.
Notwithstanding anything to the contrary stated in this MoU, except for the parties’ obligations during the Pilot Negotiation
Period only with respect to the Lockup Restrictions and the parties’ obligations under the NDA (the “Binding Provisions”),
this MoU shall be deemed to be non-binding and, except for the Binding Provisions, neither party shall have any obligation to
the other party under this MoU, including, without limitation, any obligation to consummate the transactions contemplated hereunder
or enter into the Pilot Agreement and/or the VAR Agreement. The parties hereby agree that their respective obligations with respect
to the Lockup Restrictions during the Pilot Negotiation Period only and their obligations under the NDA shall be binding, contractual
obligations of the parties.

 

	NUVO
  GROUP LTD.	 	1EQ
  INC., d/b/a Babyscripts®
	 	 	 
	By:	/s/ Kelly Londy	 	By:	[***]

	 	 	 	 	 
	Name:	Kelly Londy	 	Name:	[***]
	 	 	 	 	 
	Title:
  	CEO	 	Title:	[***]

 

    5

    
	 	

 

    

 

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 [***]. 

 

MUTUAL
NON-DISCLOSURE AGREEMENT

 

[***]

 

    6

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