Document:

Exhibit 10.3 

 

AIT THERAPEUTICS INC.

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

This Executive Employment Agreement (“Agreement”)
is made and entered into as of June 30, 2018, by and between AIT THERAPEUTICS INC., a Delaware corporation (“Employer”),
and Amir Avniel (“Executive”).

 

1. Employment. Employer employs
Executive, and Executive accepts employment with Employer, on the terms and conditions set forth in this Agreement commencing on June
30, 2018 (“Effective Date”).

 

2. Position; Scope of Employment
The Company agrees to employ and the Executive agrees to serve as the Company’s President and Chief Operating Officer and Member
of the Board. The duties and responsibilities of the Executive shall include the duties and responsibilities as the Company’s Board
of Directors (“Board”) may from time to time assign to the Executive.

 

For so long as Executive is President
and Chief Operating Officer, the Company shall use commercially reasonable efforts, subject to applicable law and regulations of any applicable
stock exchange, to cause Executive to be nominated for election as a director and to be recommended to the stockholders for election as
a director.

 

The Executive shall devote his full-time
efforts and services to the business and affairs of the Company and its subsidiaries. Nothing in this Section 1 shall prohibit the Executive
from: (A) serving as a director or member of any other board, committee thereof of any other entity or organization (except as such position
may be with a directly competing company); (B) delivering lectures, fulfilling speaking engagements, and any writing or publication relating
to his area of expertise; (C) serving as a director or trustee of any governmental, charitable or educational organization; (D) engaging
in additional activities in connection with personal investments and community affairs, including, without limitation, professional or
charitable or similar organization committees, boards, memberships or similar associations or affiliations (E) performing advisory activities,
provided, however, such activities are not in competition with the business and affairs of the Company or would tend to cast executive
of Company in a negative light in the reasonable judgment of the Board.

 

2.1. Rules and Regulations. During his employment with
Employer, Executive agrees to observe and comply with Employer’s rules and regulations (including Employer’s code of ethics
and insider trading policy) as provided by Employer and as may be amended from time to time by Employer and will carry out and perform
faithfully such orders, directions and policies of Employer. To the extent any provision of this Agreement is contrary to an Employer
rule or regulation, as such may be amended from time to time, the terms of this Agreement shall control.

 

3. Employment Term. Executive’s
term of employment (the “Employment Term”) shall commence upon the Effective Date of this Agreement and shall terminate
as provided in Section 5.

 

4. Compensation. During the Employment
Term, Employer shall pay to or provide compensation to Executive as set forth in this Section 4. All compensation of every description
shall be subject to the customary withholding tax and other employment taxes as required with respect to compensation paid to an employee.

 

4.1. Base Salary. Employer shall
pay Executive an annual base salary as established by the Board of Directors from time-to-time (“Base Salary”). Executive’s
Base Salary shall be payable in accordance with Employer’s regular payroll schedule, but not less frequently than twice per month.
The initial Base Salary shall be $400,000.00 per annum.

 

4.2. Review. Executive’s Base
Salary and duties shall be reviewed by the Compensation Committee of the Board of Directors at least annually. During the review, duties
will be outlined and compensation may be adjusted up at the discretion of the Compensation Committee. The Base Salary may not be decreased
during the Employment Term without the consent of the Executive. If Employer has no Compensation Committee, then all references to the
Compensation Committee shall refer to the Board of Directors.

 

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4.3. Short-Term Incentive Compensation.
In addition to the Base Salary provided for in sections 4.1 and 4.2, Executive is eligible to receive a short-term incentive bonus (“STI”)
equal to a percentage of his Base Salary in effect at the end of the fiscal year, based partially on performance weighted bonus objectives
established for Executive by the Board of Directors (which will include both corporate objectives and individual objectives) for the fiscal
year, such objectives to be discussed with Executive prior to being established, and partially based on the discretion of the Board of
Directors. The target STI each fiscal year shall be an amount equal to 60% of the Base Salary in effect at the end of that fiscal year.
However, the actual STI as determined by the Board of Directors may range from 0% to higher than 100% of the Base Salary. STI shall for
any year be payable on or before April 15 of the following year and may include cash, stock options and restricted stock awards. If paid
in stock options or restricted stock awards, STI shall be paid separately from, and independently of, any long term equity incentive award
as described in section 4.4 below. Any and all bonuses provided to Executive pursuant to this paragraph shall be governed by the terms
of a separate management bonus plan as adopted by the Board of Directors in its sole discretion from time to time.

 

4.4. Long Term Incentive Compensation.
Executive shall be eligible to receive awards of stock options or restricted stock grants as may be determined from time to time by the
Board of the Directors or the Compensation Committee of the Board of Directors. On a date to be determined by the Compensation Committee
of the Board of Directors (but no later than March 31, 2018), Executive will be granted options to purchase up to 250,000 shares of Employer’s
Common Stock (“Options”), if appropriate, under Employer’s Stock Option Plan (the “Plan”)
pursuant to an option agreement in the form determined by the Board of Directors (the “Option Agreement”). Subject
to the terms and conditions of the Option Agreement, the Options will vest as to 25% of the shares subject to the Option (the “Option
Shares”) on the Effective Date, and thereafter 25% on December 31, 2018 and December 31st of each of the two ensuing years
thereafter until vested in full (provided that the last vesting date shall occur on a date before the Option expires). The exercise price
of the Options will be equal to 100% of the fair market value of share of Employer Common Stock on the date of grant, not to be less
than $4.25 and the Options will expire on the tenth anniversary of the date of grant. In the event of a conflict between the terms hereof
and the terms of the Option Agreement and/or the Plan, the terms of the Option Agreement and/or the Plan will control. The Board may,
in its absolute discretion, choose to grant Executive additional options in the future.

 

4.5 Tax Matters Relating to Awards.
The Compensation Committee shall be permitted to elect to have Employer cover any tax withholding obligation by net share settlement of
shares equal to the amount of Executive’s tax withholding liability unless a Rule 10b5-1 Plan is a viable option. Otherwise, such
net settlement on vested shares for tax purposes shall be permitted upon finding that a Rule 10b5-1 Plan is not an alternative for Executive.

 

4.6. Vacation and Sick Leave Benefits.
Executive shall be entitled to accrue six (6) weeks of paid vacation annually. While Employer encourages Executive to take vacation, if
he does not use all vacation accrued in each calendar year, Executive may carry it over from year to year; provided, however,
that the maximum accrual of Executive’s vacation shall be capped at two times the annual accrual rate. Once the cap is reached,
Executive shall no longer accrue vacation until such time as he uses accrued vacation and his accrued and unused vacation days fall below
the cap, at which time he will again begin to accrue vacation at the appropriate accrual rate. The value of any amount of vacation that
would otherwise accrue but for the cap would be paid in cash to Executive. Any vacation benefit granted or paid to Executive is based
solely on his Base Salary. Executive shall be entitled to sick leave in accordance with Employer’s sick leave policy, as amended
from time to time.

 

4.7 Other Fringe Benefits. Executive
shall participate in all of Employer’s fringe benefit programs in substantially the same manner and to substantially the same extent
as other similar employees of Employer, excluding only those benefits expressly modified by the terms hereof.

 

4.8 Expenses. Executive shall be
reimbursed for his reasonable business expenses, subject to the presentation of evidence that such expenses are made in accordance with
established policies adopted by Employer from time to time.

 

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4.9 Compensation From Other Sources.
Any proceeds that Executive shall receive by virtue of qualifying for disability insurance, disability benefits, or health or accident
insurance shall belong to Executive. Executive shall not be paid Base Salary in any period in which he receives benefits as determined
and paid under Employer’s long-term disability policy. Benefits paid to Executive under Employer’s short-term disability policy
shall reduce, by the same amount, Base Salary payable to Executive for such period.

 

5. Termination of Employment. Executive’s
employment with Employer shall terminate on the earliest to occur of the following (the date of termination of Executive’s employment
being the “Termination Date”):

 

5.1 upon the mutual agreement of Employer
and Executive in writing;

 

5.2 upon the Executive’s death;

 

5.3 upon delivery to Executive of a written
notice of termination by Employer if Executive should suffer a disability or physical or mental condition, which for the purposes of this
Agreement, means Executive’s inability, for a period of ninety (90) consecutive days, to substantially perform the essential functions
of Executive’s duties as Chief Executive Officer, with or without a reasonable accommodation. For purposes of determining whether
Executive has a disability or physical or mental condition under this Section 5.3, upon request Executive agrees to submit to Employer
a medical certification regarding his health condition from his health care provider, or submit to a medical exam by a health care provider
selected by Employer and Executive for the sole purpose of evaluating Executive’s ability to perform the essential functions of
his position. Employer’s written notice of termination under this Section 5.3 shall coincide with the date Executive qualifies for
total disability payments under Employer’s long-term disability plan.

 

5.4 upon the date set forth in a written
notice of termination for Cause delivered to Executive by Employer.

 

For purposes of this Agreement, “Cause”
is defined as follows: (a) willful or habitual breach of Executive’s duties, provided that Employer shall give Executive notice
of such breach and Executive shall not have cured such breach within thirty (30) days of such notice; (b) fraud, dishonesty, deliberate
injury or intentional material misrepresentation by Executive to Employer or any others; (c) embezzlement, theft or conversion by Executive;
(d) negligent unauthorized disclosure or other use of Employer’s trade secrets, customer lists or confidential information; (e)
habitual misuse of alcohol or any non-prescribed drug or intoxicant; (f) willful misconduct that causes material harm to Employer; (g)
willful violation of any other standards of conduct as set forth in Employer’s employee manual and policies; (h) Executive’s
conviction of or plea of guilty or nolo contendere to a felony or to a misdemeanor involving moral turpitude; (i) continuing failure
to communicate and fully disclose material information to the Board of Directors, the failure of which would adversely impact the Employer
or may result in a violation of state or federal law, including securities laws; or (j) debarment by any federal agency that would limit
or prohibit Executive from serving in his capacity for Employer under this Agreement.

 

5.5 upon the date set forth in a written
notice of resignation delivered to Employer by Executive for Good Reason.

 

For purposes of this Agreement, “Good
Reason” is defined as one or more of the following: (a) without the consent of Executive, Executive is assigned material duties
that are materially inconsistent with Executive’s position, duties, responsibilities or status as Chief Operating Officer of Employer,
including any Change of Control, provided that Executive must advise the Board of Directors in writing within fifteen (15) days of such
assignment of duties that he believes the duties would give him the right to terminate his employment for Good Reason and the Board of
Directors does not withdraw or change such assignment within a reasonable period of time; or (b) without the consent of Executive, Employer
relocates Executive’s principal place of employment to a location further than 35 miles from the Employer’s current principal
offices.

 

5.6 upon the date set forth in (a) a written
notice of termination without Cause delivered to Executive by Employer; or (b) a written notice of resignation for Good Reason delivered
to Employer by Executive, if such written notice is provided within three (3) months prior to a Change of Control or one (1) year following
a Change in Control.

 

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For purposes of this Agreement, “Change
in Control” means an event involving one transaction or a related series of transactions in which one of the following occurs:
(a) Employer issues securities equal to fifty percent 50% or more of Employer’s issued and outstanding voting securities, determined
as a single class, to any individual, firm, partnership or other entity, including a “group” within the meaning of Section
13(d)(3) of the Securities Exchange Act of 1934; (b) Employer issues securities equal to fifty percent 50% or more of the issued and outstanding
common stock of Employer in connection with a merger, consolidation or other business combination; (c) Employer is acquired in a merger
or other business combination transaction in which Employer is not the surviving company; or (d) all or substantially all of Employer’s
assets are sold or transferred to a third party that is not an affiliate of Employer.

 

5.7 upon the date set forth in a written
notice of resignation delivered to Employer by Executive, other than a notice under Section 5.5 (Good Reason) or Section 5.6 (Change in
Control);

 

5.8 upon the date set forth in a written
notice of termination without Cause delivered to Executive by Employer, other than a notice under Section 5.3 (Disability) or Section
5.4 (termination for Cause).

 

6.
Compensation Upon Termination.

 

6.1 Minimum Payments. Upon termination
of Executive’s employment for any reason Executive shall be entitled to: (a) Base Salary accrued through the Termination Date; (b)
reimbursement of expenses incurred prior to termination of employment that are payable in accordance with Section 4.8; (c) any benefits
accrued or earned in accordance with the terms of any applicable benefit plans and programs of Employer, including but not limited to
accrued and unused vacation; and (d) any earned but unpaid STI bonus or other incentive compensation if, and to the extent, the applicable
management bonus plan expressly provides for payment following termination of employment.

 

6.2 Severance Payments for Termination
Without Cause or for Resignation for Good Reason. If Executive’s employment is terminated pursuant to Section 5.5 (Good Reason)
or Section 5.8 (without Cause), in addition to the payments made under Section 6.1, Executive shall be entitled to:

 

(a) Base Salary: a sum equal to twenty-four
(24) months of Base Salary in effect as of the Termination Date, payable in a lump sum cash payment on the Termination Date.

 

(b) STI: a lump sum cash payment equal to
one and a half (1.5) times the Executive’s most recently established and earned annual STI award, and

 

(c) Equity Awards: all of the Executive’s
outstanding options to acquire Employer’s common stock and restricted common stock awards which have not vested as of the Termination
Date shall become immediately vested as of the Termination Date.

 

(d) Health and Welfare Benefits: Provided
that the Executive timely elects continuation coverage (as defined under COBRA) under the Employer’s medical and dental plans as
in effect at the time of the Executive’s termination, the Employer shall pay the COBRA premiums for Executive and his dependents
under such plans (or any successor plans) until the earliest of i) the end of the eighteenth (18th) month following the Executive’s
termination, or ii) the date Executive secures subsequent employment with medical and dental coverage. Executive shall provide
at least five (5) business days advance written notice informing the Employer when Executive becomes eligible for other comparable medical
and dental coverage in connection with subsequent employment. In addition, if periodically requested by the Employer, Executive will provide
the Employer with written confirmation that Executive has not become eligible for comparable medical and dental coverage.

 

6.3 Severance Payments Related to Change
of Control. If Executive’s employment is terminated pursuant to Section 5.6 because Executive has resigned for Good Reason,
or because Employer terminated Executive without Cause, in either case within three (3) months prior to a Change of Control or within
eighteen (18) months following of a Change of Control, in addition to the benefits under Sections 6.1, Executive shall be entitled to:

 

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(a) A one-time grant of 350,000 shares of
common stock,validly issued, fully paid and nonassessable

 

(b) all the Executive’s outstanding
options to acquire the Employer’s common stock or restricted stock awards which have not vested as of the Termination Date shall
become immediately vested as of the Termination Date,

 

(c) Health and Welfare Benefits: Provided
that the Executive timely elects continuation coverage (as defined under COBRA) under the Employer’s medical and dental plans as
in effect at the time of the Executive’s termination, the Employer shall pay the COBRA premiums for Executive and his dependents
under such plans (or any successor plans) until the earliest of i) the end of the twenty-fourth (24th) month following the
Executive’s termination, or ii) the date Executive secures subsequent employment with medical and dental coverage. Executive
shall provide at least five (5) business days advance written notice informing the Employer when Executive becomes eligible for other
comparable medical and dental coverage in connection with subsequent employment. In addition, if periodically requested by the Employer,
Executive will provide the Employer with written confirmation that Executive has not become eligible for comparable medical and dental
coverage.

 

6.4 Timing of Payments. Subject to
the conditions set forth in Sections 6.5 (Release) and Section 13 (409A), all compensation under sections 6.2 and 6.3 earned by and owing
to Executive at the time of his termination of employment shall be paid to him on the Termination Date. Subject to the conditions set
forth in Sections 6.5 (Release) and Section 13 (409A), all other payments made to Executive under this Agreement shall be due and payable
as stated and, if not specified, in installments at least twice monthly at Employer’s sole discretion and election.

 

6.5 Release. Executive acknowledges
and agrees that payments under Section 6.2 or 6.3 shall fully and completely discharge any and all obligations of Employer to Executive
arising out of or related to: (a) Executive’s employment with, and/or separation from employment with Employer; and/or (b) this
Agreement. The payment(s) made hereunder shall constitute liquidated damages in lieu of any and all claims which Executive may have against
Employer or any of its officers, directors, employees, or other agents, except for any obligations under the workers’ compensation
laws including Employer’s liability provisions. Therefore, notwithstanding any provision of this Agreement to the contrary, no payments
or benefits shall be owed to Executive under Section 6.2 or Section 6.3 unless Executive executes and delivers to Employer a release in
the form attached hereto as Exhibit A (“Release”) within forty five (45) days following the Termination Date, and any
applicable revocation period has expired prior to the sixtieth (60th) day following the Termination Date.

 

6.6 No Obligation to Seek Employment.
Executive shall have no obligation to seek other employment following termination of his employment with Employer nor shall any payment
he receives from any subsequent employer reduce the payments to which he is entitled to under this Agreement.

 

6.7 Section 280G. If a payment
(including this tax reimbursement payment) by the Company is determined to be an “excess parachute payment” within the meaning
of Internal Revenue Code (“Code”) §280 and/or §4999, and Treasury Regs. §1.280G-1, and an excise tax is imposed
thereon under Code §4999, the Company shall immediately reimburse Executive for the amount of such excise tax together with any additional
income tax or excise tax attributable to the reimbursement of any excise taxes, as well as any income taxes on the income tax on the excise
tax reimbursement, etc., so that Executive is not out of pocket any excise tax expense nor any income tax expense on such excise tax reimbursement.

 

 7. Proprietary Information; Confidentiality.

 

7.1. Confidential Information. Executive
during the course of his duties will be handling financial, accounting, statistical, marketing and personnel information of Employer and/or
its customers or other third-parties. All such information is confidential and shall not be disclosed, directly or indirectly, or used
by Executive in any way, either during the term of this Agreement or at any time thereafter except as required in the course of Executive’s
employment with Employer. Executive agrees not to disclose to any others, or take or use for Executive’s own purposes or purposes
of any others, during the term of this Agreement, any of Employer’s Confidential Information (as defined below). Executive agrees
that these restrictions shall also apply to (a) Confidential Information belonging to third parties in Employer’s possession; and
(b) Confidential Information conceived, originated, discovered or developed by Executive during the term of this Agreement. “Confidential
Information” means any Employer proprietary information, trade secrets or know-how, and any other information relating to Employer,
its subsidiaries, or affiliates of any kind, type or nature (whether written, stored on magnetic or other media, or oral), including,
but not limited to, research, plans, services, customer lists, Employer’s computer programs or computer software, marketing, finances
or other business information that has been compiled, prepared, devised, developed, designed, discovered, or otherwise learned by Executive
during the course of his employment and/or disclosed to Executive by Employer, either directly or indirectly, in writing, orally, or by
observation of any business conduct. Confidential Information does not include any of the foregoing items that has become publicly known
and made generally available through no wrongful act of Executive. Executive further agrees not to use improperly or disclose or bring
onto the premises of Employer any trade secrets of another person or entity during the term of this Agreement.

 

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7.2. Return of Property. Executive
agrees that upon termination of employment with Employer, Executive will deliver to Employer all devices, records, data, disks, computer
files, notes, reports, proposals, lists, correspondence, materials, equipment, other documents or property, or reproductions of any aforementioned
items developed by Executive pursuant to employment with Employer or otherwise belonging to Employer, its successors or assigns.

 

7.3. Employment Information. Executive
represents and warrants to Employer that information provided by Executive in connection with his employment and any supplemental information
provided to Employer is complete, true and materially correct in all respects. Executive has not omitted any information that is or may
reasonably be considered necessary or useful to evaluate the information provided by Executive to Employer. Executive shall immediately
notify Employer in writing of any change in the accuracy or completeness of all such information.

 

7.4. Other Agreements. Executive
represents that the performance of all the terms of this Agreement will not breach any agreement to keep in confidence proprietary information
acquired by Executive in confidence or in trust prior to employment with Employer. Executive has not and shall not: (a) disclose or use
in the course of his employment with Employer, any proprietary or trade-secret information belonging to another; or (b) enter into any
oral or written agreement in conflict with this Agreement.

 

7.5 Communications with Government Authorities.
Nothing in this in this Agreement is intended to discourage or restrict Executive from communicating with, or making a report with, any
governmental authority regarding a good faith belief of any violations of law or regulations based on information that Executive acquired
through lawful means in the course of his employment, including such disclosures protected or required by any whistleblower law or regulation
of the Securities and Exchange Commission, the Department of Labor, or any other appropriate governmental authority. Furthermore, nothing
in this Agreement is intended to discourage or restrict Executive from reporting any theft of trade secrets pursuant to the Defend Trade
Secrets Act of 2016 (the “DTSA”) or other applicable state or federal law. The DTSA prohibits retaliation against an
employee, contractor or consultant because of whistleblower activity in connection with the disclosure of trade secrets, so long as any
such disclosure is made either (A) in confidence to an attorney or a federal, state, or local government official and solely to report
or investigate a suspected violation of the law, or (B) under seal in a complaint or other document filed in a lawsuit or other proceeding.
Executive agrees that if Executive believes that any Employer employee, consultant, contractor or any third party has misappropriated
or improperly used or disclosed trade secrets or Confidential Information, Executive will report such activity to Employer’s Board
of Directors or otherwise in accordance with any communication protocols or policies established by the Employer.

 

8.
Duty of Loyalty; Fiduciary Duty; Covenant Not to Unfairly Compete.

 

8.1 Obligations During Employment.
During the term of this Agreement, Executive has a duty of loyalty and a fiduciary duty to Employer. Executive shall not, directly or
indirectly, whether as a partner, employee, creditor, stockholder, or otherwise, promote, participate, or engage in any activity or other
business which is directly competitive to the current operations of Employer or the currently contemplated future operations of Employer.
The obligation of Executive not to compete with Employer shall not prohibit Executive from owning or purchasing less than 5% of the outstanding
voting securities of any company whose securities are regularly traded on a recognized stock exchange or on over-the-counter market.

 

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8.2 Obligations Post-Employment.
To the fullest extent permitted by law, upon the termination of Executive’s employment with Employer for any reason, Executive shall
not use any of Employer’s confidential proprietary or trade secrets information to directly or indirectly, either as an employee,
employer, consultant, agent, principal, partner, stockholder, corporate officer, director, or any other individual or representative capacity,
engage or participate in any business, wherever located, that is in direct competition with the business of Employer.

 

9. Inventions; Ownership Rights.
To the fullest extent permitted by law, Executive agrees that all ideas, techniques, inventions, systems, formulas, discoveries, technical
information, programs, know-how, prototypes and similar developments (“Developments”) developed, created, discovered,
made, written or obtained by Executive in the course of or as a result, directly or indirectly, of performance of his duties hereunder,
and all related industrial property, copyrights, patent rights, trade secrets, moral rights and other forms of protection with respect
thereto, shall be and remain the property of Employer. Executive agrees to execute or cause to be executed such assignments and applications,
registrations and other documents and to take such other action as may be requested by Employer to enable Employer to protect its rights
to any such Developments. If Employer requires Executive’s assistance under this Section 9 after termination of this Agreement,
Executive shall be compensated for his time actually spent in providing such assistance at an hourly rate equivalent to the prevailing
rate for such services and as agreed upon by the parties.

 

10.
Non-Solicitation; Post-Termination Cooperation.

 

10.1 Customers. During the term of
this Agreement, Executive has a duty of loyalty and a fiduciary duty to Employer. While employed by Employer, Executive shall not divert
or attempt to divert (by solicitation or other means), whether directly or indirectly, Employer’s customers for the purpose of inducing
or encouraging them to sever their relationship with Employer or to solicit them in connection with any product or service competing with
those products and services offered and sold by Employer. Also, to the fullest extent permissible under applicable law, following termination
of Executive’s employment with Employer for any reason, Executive agrees not use any Confidential Information to directly or indirectly
divert or attempt to divert (by solicitation or other means) Employer’s customers for the purpose of inducing or encouraging them
to sever their relationship with Employer or to solicit them in connection with any product or service competing with those products and
services offered and sold by Employer.

 

10.2 Employees. To the fullest extent
permissible under applicable law, Executive agrees that both during the term of this Agreement, and for a period of one (1) year after
the Termination Date, Executive shall not take any action to induce employees or independent contractors of Employer to sever their relationship
with Employer and accept an employment or an independent contractor relationship with any other business. However, this obligation will
not affect any responsibility Executive may have as an employee of Employer with respect to the bona fide hiring and firing of Employer
personnel.

 

10.3 Post-Termination Cooperation.
For a period of one (1) month following any termination of this Agreement, Executive will make himself available and assist Employer,
as reasonably requested, with respect to prior services, transition of duties, and intellectual property filings and protection.

 

11. Arbitration; Remedies. Executive
and Employer agree that any dispute between the parties (including any affiliate, successor, predecessor, contractors, employees, and
agents of Employer) that may arise from Executive’s employment with Employer or termination of Executive’s employment with
Employer, and/or regarding the rights or obligations of the parties under this Agreement, will be submitted to binding arbitration. The
arbitration requirement applies to all statutory, contractual, and/or common law claims arising from the employment relationship including,
but not limited to, claims arising under Title VII of the Civil Rights Act of 1964; the Age Discrimination in Employment Act; the Equal
Pay act of 1963; New York Labor Law; the Fair Labor Standards Act, the American With Disabilities Act, and other applicable federal and
state employment laws. Both Employer and Executive shall be precluded from bringing or raising in court or another forum any dispute that
was or could have been submitted to binding arbitration. This arbitration requirement does not apply to claims for workers’
compensation benefits, claims arising under ERISA, or claims for any provisional or injunctive relief remedies as set forth in the New
York Code of Civil Procedure (or any statute or law of similar effect concerning provisional or injunctive relief remedies in any other
applicable jurisdiction). The parties agree that, in the event of a breach or threatened breach of Sections 7 through 10 of this Agreement
by Executive, monetary damages alone would not be an adequate remedy to Employer for the injury that would result from such breach, and
that Employer shall be entitled to apply to any court of competent jurisdiction for specific performance and/or injunctive relief (without
posting bond or other security) in order to enforce or prevent any violation of such provisions of this Agreement. Executive further agrees
that any such injunctive relief obtained by Employer shall be in addition to monetary damages.

 

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Binding arbitration under this Agreement shall be conducted
in New York County, New York and shall be conducted before a neutral arbitrator selected by both parties and shall otherwise be conducted
in accordance with the American Arbitration Association’s “National Rules for the Resolution of Employment Disputes”.
Where required by law, Employer shall pay all additional costs peculiar to the arbitration to the extent such costs would not otherwise
be incurred in a court proceeding. Each party shall pay their own attorney’s fees and costs. The parties will be permitted to conduct
discovery as provided by the New York Code of Civil Procedure. The arbitrator shall, within thirty (30) days after the conclusion of
the arbitration, issue a written award setting forth the factual and legal bases for his or her decision and judgment upon the award
rendered by the arbitrator may be entered in any court having jurisdiction thereof.

 

NOTE: THIS ARBITRATION CLAUSE CONSTITUTES A WAIVER OF EXECUTIVE’S
RIGHT TO A JURY TRIAL AND RELATES TO THE RESOLUTION OF ALL DISPUTES RELATING TO ALL ASPECTS OF THE EMPLOYER/EMPLOYEE RELATIONSHIP.

 

12. Actions Contrary to Law; Blue Pencil.
Nothing contained in this Agreement shall be construed to require the commission of any act contrary to law, and whenever there is any
conflict between any provision of this Agreement and any statute, law, ordinance, or regulation, contrary to which the parties have no
legal right to contract, then the latter shall prevail; but in such event, the provisions of this Agreement so affected shall be curtailed
and limited only to the extent necessary to bring it within legal requirements. The parties hereby acknowledge that the restrictions set
forth in Sections 7 through 10 have been specifically negotiated and agreed to by the parties hereto and if the scope or enforceability
of any such section is in any way disputed at any time, and should a court find that such restrictions are overly broad, the court may
modify and enforce the covenant to the extent that it believes to be reasonable under the circumstances.

 

 13. Section 409A Compliance.

 

13.1 Conditions to Payment. Notwithstanding
anything to the contrary set forth herein, any payments and benefits provided under this Agreement that constitute “deferred compensation”
within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (“Code”) and the regulations and other
guidance thereunder and any state law of similar effect (collectively, “Section 409A”) shall not commence in connection with
your termination of employment unless and until you have also incurred a “separation from service” (as such term is defined
in Treasury Regulation Section 1.409A-1(h) (“Separation From Service”), unless the Company reasonably determines that such
amounts may be provided to you without causing you to incur the additional 20% tax under Section 409A. It is intended that each installment
of severance pay provided for in this Agreement is a separate “payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i).
For the avoidance of doubt, it is intended that severance payments set forth in this Agreement satisfy, to the greatest extent possible,
the exceptions from the application of Section 409A provided under Treasury Regulation Sections 1.409A-1(b)(4) and 1.409A-1(b)(9). If
the Company (or, if applicable, the successor entity thereto) determines that any payments or benefits constitute “deferred compensation”
under Section 409A and you are, on the termination of service, a “specified employee” of the Company or any successor entity
thereto, as such term is defined in Section 409A(a)(2)(B)(i) of the Code, then, solely to the extent necessary to avoid the incurrence
of the adverse personal tax consequences under Section 409A, the timing of the payments and benefits shall be delayed until the earlier
to occur of: (a) the date that is six months and one day after your Separation From Service, or (b) the date of your death (such applicable
date, the “Specified Employee Initial Payment Date”). On the Specified Employee Initial Payment Date, the Company (or the
successor entity thereto, as applicable) shall (i) pay to you a lump sum amount equal to the sum of the payments and benefits that you
would otherwise have received through the Specified Employee Initial Payment Date if the commencement of the payment of such amounts had
not been so delayed pursuant to this Section and (ii) commence paying the balance of the payments and benefits in accordance with the
applicable payment schedules set forth in this Agreement. All reimbursements provided under this Agreement shall be subject to the following
requirements: (i) the amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not affect the in-kind
benefits to be provided or the expenses eligible for reimbursement in any other taxable year, (ii) all reimbursements shall be paid as
soon as administratively practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following
the taxable year in which the expense was incurred, and (iii) the right to reimbursement or in-kind benefits is not subject to liquidation
or exchange for any other benefit. It is intended that all payments and benefits under this Agreement shall either comply with or be exempt
from the requirements of Section 409A, and any ambiguity contained herein shall be interpreted in such manner so as to avoid adverse personal
tax consequences under Section 409A.

 

    	Page 8

     

    

 

 14. Miscellaneous.

 

14.1. Notices. All notices and demands
of every kind shall be personally delivered or sent by first class mail to the parties at the addresses appearing below or at such other
addresses as either party may designate in writing, delivered or mailed in accordance with the terms of this Agreement. Any such notice
or demand shall be effective immediately upon personal delivery or three (3) days after deposit in the United States mail, as the case
may be.

 

	EMPLOYER:	AIT THERAPEUTICS INC.
	 	
    500 Mamaroneck Road

    Harrison, New York

	 	 
	EXECUTIVE: 	Amir Avniel
	 	Enter address

 

14.2. Attorneys’ Fees; Prejudgment
Interest. If the services of an attorney are required by any party to secure the performance hereof or otherwise upon the breach or
default of another party to this Agreement, or if any judicial remedy or arbitration is necessary to enforce or interpret any provision
of this Agreement or the rights and duties of any person in relation thereto, to the extent permitted by law, the prevailing party shall
be entitled to reasonable attorneys’ fees, costs and other expenses, in addition to any other relief to which such party may be
entitled. Any award of damages following judicial remedy or arbitration as a result of the breach of this Agreement or any of its provisions
shall include an award of prejudgment interest from the date of the breach at the maximum amount of interest allowed by law.

 

14.3. Choice of Law, Jurisdiction, Venue.
This Agreement is drafted to be effective in the State of New York, and shall be construed in accordance with New York law. The exclusive
jurisdiction and venue of any legal action by either party under this Agreement shall be the County of New York, New York.

 

14.4. Amendment, Waiver. No amendment
or variation of the terms of this Agreement shall be valid unless made in writing and signed by Executive and Employer. A waiver of any
term or condition of this Agreement shall not be construed as a general waiver by Employer. Failure of either Employer or Executive to
enforce any provision or provisions of this Agreement shall not waive any enforcement of any continuing breach of the same provision or
provisions or any breach of any provision or provisions of this Agreement.

 

14.5 Change in the Time and Form of Payment.
Any amendment that proposes to delay the time or form of the payment of any deferred compensation payable pursuant to the terms of this
Agreement shall be subject to the following restrictions:

 

(a) Any election to amend the terms of
this Agreement to defer the time or form of payment of deferred compensation hereunder shall not take effect for twelve (12) months after
the date on which the election to amend the time of form of payment is made: and

 

    	Page 9

     

    

 

(b) Any election to amend the terms of
this Agreement to defer the payment of deferred compensation payable hereunder shall require that the first payment of any deferred compensation
payable hereunder be deferred for a period of not less than five (5) years from the date such payment would have been made but for the
amendment of the Agreement to defer the payment date.

 

14.6. Assignment; Succession. It
is hereby agreed that Executive’s rights and obligations under this Agreement are personal and not assignable. Further, neither
Executive, nor beneficiary, nor any other person entitled to payments hereunder shall have the power to transfer, assign, anticipate,
mortgage or otherwise encumber in advance any of such payments, nor shall such payments be subject to seizure for the payment of public
or private debts, judgment, alimony or separate maintenance or be transferable by operation of law in event of bankruptcy, insolvency
or otherwise. This Agreement contains the entire agreement and understanding between the parties to it and shall be binding on and inure
to the benefit of the heirs, personal representatives, successors and assigns of the parties hereto.

 

14.7. Independent Covenants. All
provisions herein concerning unfair competition and confidentiality shall be deemed independent covenants and shall be enforceable without
regard to any breach by Employer unless such breach by Employer is willful and egregious.

 

14.8. Entire Agreement. This document
constitutes the entire agreement between the parties, all oral agreements being merged herein, and supersedes all prior representations.
There are no representations, agreements, arrangements, or understandings, oral or written, between or among the parties relating to the
subject matter of this Agreement that are not fully expressed herein. This Agreement supersedes and replaces its entirety the employment
letter, dated December 14, 2016, between Executive and Employer, which employment letter shall be terminated effective as of the date
hereof.

 

14.9. Severability. If any provision
of this Agreement is held by a court of competent jurisdiction to be invalid or unenforceable, the remainder of the Agreement which can
be given effect without the invalid provision shall continue in full force and effect and shall in no way be impaired or invalidated.

 

14.10. Captions. All captions of
sections and paragraphs in this Agreement are for reference only and shall not be considered in construing this Agreement.

 

14.11 Certain Definitions. As used
in this Agreement, the term “affiliate” means, with respect to a specified person or entity, any other person or entity
that directly or indirectly controls, is controlled by, or is under common control with the specified person or entity. For purposes of
the preceding sentence, “control” when used with respect to an entity means the power to direct the management and
policies of the entity, directly or indirectly, whether through ownership of voting securities, by contract or otherwise. The terms “affiliated”,
“unaffiliated”, and “non-affiliated” shall have meanings correlative to the foregoing.

 

[SIGNATURE PAGE TO FOLLOW]

 

    	Page 10

     

    

 

THIS AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION
WHICH AFFECTS YOUR LEGAL RIGHTS AND MAY BE ENFORCED BY THE PARTIES.

 

	 	
    EMPLOYER:

     

    AIT THERAPEUTICS.

	 	 
	 	
    /s/

    

    

	 	By:
	 	 
	 	EXECUTIVE:
	 	 
	 	 
	 	
    

    Amir Avniel, Individually

 

    	Page 11Exhibit
10.1

 

 

April
16, 2021

 

Regi
Vengalil

 

I
am pleased to offer you a full-time position with Metromile, Inc. (the “Company” as its Chief Financial Officer commencing
on or before May 24, 2021.

 

Duties
and Responsibilities. You will report to the CEO of the Company. You shall have such job duties and responsibilities commensurate
with and customary for your position, which duties may change from time-to-time as the Company’s business needs and market conditions
change.

 

Compensation.
You will be paid a starting salary of $375,000 per year (less required deductions and withholdings), which will be paid semi-monthly
in accordance with the Company’s normal payroll procedures. Your position is considered “exempt” for purposes of state
and federal wage-and-hour laws, which means you are not eligible for overtime pay.

 

Sign-on
Bonus. Metromile will pay to you a one-time bonus of $50,000 (the “Sign-On Bonus”), less applicable tax withholdings,
payable in the first semi-monthly payroll following your employment start date with the Company. The bonus may be used at your own discretion
and will be considered taxable income. You will earn, and be permitted to retain, the full amount of the Bonus if you remain employed
by the Company on your one-year anniversary of your employment start date with the Company, subject to the terms of this section. By
signing below, you acknowledge and agree that should your employment with the Company terminate prior to your one-year anniversary for
any reason, other than your death or disability, termination for Cause or for Good Reason, you will be required to repay the Company
the full amount of the Bonus. Your signature below authorizes the Company, to the fullest extent permitted by law, to make deductions
from any payment you are owed (including your final paycheck) to repay all or a portion of the sign-on Bonus. You agree that, if such
deductions do not fully cover the repayment of the sign-on Bonus that is owed to the Company under this section, you will pay the Company
the remaining balance within 90 days of your termination of employment.

 

Benefits.
You will be eligible to participate in the Company’s Flexible Time Away policy as outlined in the employee handbook. In addition,
as a regular, full-time employee of the Company, you will be eligible to participate in the employee benefit plans and programs
currently and hereafter maintained by the Company and generally available to similarly situated senior employees of the Company. Your
participation in such plans and programs is subject in each case to the terms and conditions of the plan or program in question, including
any eligibility requirements for the plan or program.

 

    	 

     

    

 

At-Will
Employment. Your employment with the Company is at will. This means that either you or the Company may terminate your employment
at any time, for any reason. Should you choose to resign, the Company appreciates you providing two weeks’ written notice of your
resignation.

 

Restricted
Stock Units. If you decide to join the Company, it will be recommended to our Board of Directors (“Board”) that
the Company grant you the equity awards below, subject to the Board’s approval. For purposes of determining the number of shares
subject to grants denominated in dollars, the number of shares will be determined by dividing the dollar value of the grant by the volume
weighted average pricing of the shares of the Company’s common stock on the Nasdaq Stock Market for the 30-calendar day period
preceding your start date, rounded down to the nearest whole share.

 

(a)
Time-Based Restricted Stock Units. A time-based restricted stock unit award (“Time-Based RSUs”) valued at $2,500,000
granted under the Metromile, Inc. 2021 Equity Incentive Plan (the “Plan”). The Time-Based RSUs shall be subject to
time-based vesting, with a vesting commencement date corresponding to your start date with the Company. The grant shall be satisfied
annually over four (4) years following the grant date, with 25% of the shares vesting in the quarter corresponding to the first anniversary
of your hire date and the remaining 75% vesting quarterly thereafter, in all cases subject to your continued employment with the Company
on each such vesting date.

 

(b)
Performance-Based Restricted Stock Units. A performance-based vesting restricted stock unit award valued at $2,500,000 granted under
the Plan (the “Performance-Based RSUs”). The Performance- shall vest as set forth on Exhibit A, and shall have a term
of five years (from the grant date of such Performance-Based RSUs).

 

The
Time-Based RSUs and Performance-Based RSUs shall provide for an automatic sell-to-cover arrangement in respect of applicable withholding
taxes following the first release of shares from the Lockup (as defined in Exhibit A). Shares in respect of any vested portion of the
Time-Based RSUs and Performance-Based RSUs shall be delivered to you as soon as reasonably practicable following the applicable vesting
date but in no event later than two and one-half months after the end of the calendar year following the calendar year in which such
Time-Based RSUs or Performance-Based RSUs, as applicable, vest. The Time-Based RSUs and Performance-Based RSUs shall also be subject
to the provisions of the Plan and the applicable award agreement, provided, however, that the Company’s standard forms shall be
revised to provide that any clawbacks for RSUs adopted by the Company shall be limited to those required to comply with the Dodd-Frank
Wall Street Reform and Consumer Protection Act or other applicable law.

 

    	-2-

     

    

 

No
right to any RSU or shares is earned or accrued until such time that vesting occurs, and the grant does not confer any right to continued
vesting (except as provided herein) or employment.

 

Background
Check and Form I-9. The Company reserves the right to conduct background checks on all of its potential employees. Your job offer,
therefore, is contingent on your consent to such background check and your clearance of the check. For purposes of federal immigration
law, you will be required to provide to the Company documentary evidence of your identity and eligibility for employment in the United
States. Such documentation must be provided to us within three (3) business days of your date of hire, or our employment relationship
with you may be terminated.

 

Disclosure
of Prior Relevant Agreements. You must disclose to the Company any and all agreements relating to your prior employment that may
affect your eligibility to be employed by the Company or limit the manner in which you may be employed. It is the Company’s understanding
that any such agreements will not prevent you from performing the duties of your position, and you represent that such is the case. Moreover,
you agree that, during the term of your employment with the Company, you will not engage in any other employment, occupation, consulting
or other business activity directly related to the business in which the Company is now involved or becomes involved during the term
of your employment, and you will not engage in any other activities that conflict with your obligations to the Company, other than your
service on the board of directors of Porch and your involvement with not-for-profit, industry, professional and educational activities
to the extent they do not materially interfere with your responsibilities to the Company or your ability to obtain appropriate required
clearance from a regulatory body. Similarly, you agree not disclose any third party confidential information to the Company, including
that of your former employer. You further agree that you will not use any such information in performing your duties for the Company.

 

Agreement
to Abide by Company Policies. As a Company employee, you will be expected to abide by the Company’s policies, rules, and standards.
You will be required to sign an acknowledgment that you have read and understand the Company’s policies and rules of conduct which
are included in the Company Handbook (which the Company will soon distribute).

 

At-Will
Employment, Confidential Information, Invention Assignment and Arbitration Agreement (“Confidential Information and Arbitration
Agreement”). As a condition of your employment, you will be required to sign and comply with the Company’s At-Will Employment, Confidential Information, Invention Assignment and Arbitration Agreement which requires, among other provisions, the
assignment of patent rights to any invention made during your employment at the Company, and non-disclosure of Company proprietary information.
As set forth more fully in the Confidential Information and Arbitration Agreement, in the event of any dispute or claim relating to or
arising out of our employment relationship, you and the Company agree that (i) any and all disputes between you and the Company shall
be fully and finally resolved by binding arbitration, (ii) you are waiving any and all rights to a jury trial (but all court remedies
will be available in arbitration), (iii) all disputes shall be resolved by a neutral arbitrator who shall issue a written opinion, (iv)
the arbitration shall provide for adequate discovery, and (v) the Company shall pay all the arbitration fees, except an amount equal
to the filing fees you would have paid had you filed a complaint in a court of law. Please note that we must receive your executed Confidential
Information and Arbitration Agreement before your first day of employment.

 

    	-3-

     

    

 

Severance
in the Event of Qualifying Termination Absent a Change of Control. If, at any time, the Company terminates your employment without
Cause (other than as a result of your death or disability) or you resign for Good Reason (either such termination referred to as a “Qualifying
Termination”), provided such termination or resignation constitutes a Separation from Service (as defined under Treasury Regulation
Section 1.409A-1(h), without regard to any alternative definition thereunder, a “Separation from Service”), then subject
to Sections below titled “Limitation on Severance Benefits / Clawback and Recovery”, “Conditions to Receipt
of Severance Benefits and Accelerated Vesting” and “Return of Company Property” below and your continued compliance
with the terms of this Agreement (including without limitation the Confidentiality Agreement), the Company will provide you with the
following severance benefits (the “Non-CIC Severance Benefits”):

 

(a)
Cash Severance. The Company will pay you, as cash severance, twelve (12) months of your base salary in effect as of your
Separation from Service date, less standard payroll deductions and tax withholdings (the “Severance”). The
Severance will be paid in installments in the form of continuation of your base salary payments, paid on the Company’s
ordinary payroll dates, commencing on the Company’s first regular payroll date that is more than sixty (60) days following
your Separation from Service date, and shall be for any accrued base salary for the sixty (60)-day period plus the period from the
sixtieth (60th) day until the regular payroll date, if applicable, and all salary continuation payments thereafter, if any, shall be
made on the Company’s regular payroll dates.

 

(b)
COBRA Severance. The Company will continue to pay the cost of your health care coverage in effect at the time of your Separation
from Service for a maximum of twelve (12) months, either by reimbursing you for or paying directly (at the Company’s
discretion) your COBRA premiums to continue such coverage (the “COBRA Severance”). The Company’s obligation to
pay the COBRA Severance on your behalf will cease if you obtain health care coverage from another source (e.g., a new employer or
spouse’s benefit plan), unless otherwise prohibited by applicable law. You must notify the Company within two (2) weeks if you
obtain coverage from a new source. This payment of COBRA Severance by the Company would not expand or extend the maximum period of
COBRA coverage to which you would otherwise be entitled under applicable law. Notwithstanding the above, if the Company determines
in its sole discretion that it cannot provide the foregoing COBRA Severance without potentially violating applicable law (including,
without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to you a taxable
monthly payment in an amount equal to the monthly COBRA premium that you would be required to pay to continue your group health
coverage in effect on the date of your termination (which amount shall be based on the premium for the first month of COBRA
coverage), which payments shall be made on the last day of each month regardless of whether you elect COBRA continuation coverage
and shall end on the earlier of (x) the date upon which you obtain other coverage or (y) the last day of the twelfth (12th) calendar
month following your Separation from Service date.

 

    	-4-

     

    

 

Severance
in the Event of Qualifying Termination in Connection with a Change of Control. In the event of a Qualifying Termination that occurs
within three (3) months prior to or within twelve (12) months following the closing of a Change of Control (as defined below), provided
such Qualifying Termination constitutes a Separation from Service, then subject to Sections below “Limitation on Severance Benefits
/ Clawback and Recovery”, “Conditions to Receipt of Severance Benefits and Accelerated Vesting” and “Return
of Company Property” and your continued compliance with the terms of this Agreement (including without limitation the Confidentiality
Agreement), then the Company will provide you with the following severance benefits (the “CIC Severance Benefits”):
(i) the Severance in the form and as set forth in Section above titled “Severance in the Event of Qualifying Termination Absent
a Change of Control” (ii) the COBRA Severance, in the form and as set forth in Section above titled “Severance in
the Event of Qualifying Termination Absent a Change of Control”; and (iii) the Company shall accelerate the vesting of any
then-unvested Time-Based RSUs such that one hundred percent (100%) of such shares shall be deemed satisfied as of your Separation from
Service date (the “Accelerated Vesting”).

 

Limitation
on Severance Benefits / Clawback and Recovery. Under no circumstances will you be able to receive both the Non-CIC Severance Benefits
and the CIC Severance Benefits. Any and all Non-CIC Severance Benefits and CIC Severance Benefits provided under this Agreement will
be subject to recoupment in accordance with any clawback policy that the Company is required to adopt pursuant to the listing standards
of any national securities exchange or association on which the Company’s securities are listed or as is otherwise required by
the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable law. In addition, the Board may impose such other clawback,
recovery or recoupment provisions as the Board determines necessary to comply with the Dodd-Frank Wall Street Reform and Consumer Protection
Act or other applicable law, including but not limited to a reacquisition right in respect of previously acquired shares of common stock
of the Company or other cash or property upon the occurrence of a termination of employment for Cause.

 

Resignation
Without Good Reason; Termination for Cause; Death or Disability. If, at any time, you resign your employment without Good Reason,
or the Company terminates your employment for Cause, or if either party terminates your employment as a result of your death or disability,
you will receive your base salary accrued through your last day of employment, as well as any unused vacation (if applicable) accrued
through your last day of employment. Under these circumstances, you will not be entitled to any other form of compensation from the Company,
including any Non-CIC Severance Benefits, CIC Severance Benefits, or Accelerated Vesting, as applicable, other than your rights to the
vested portion of your Options or RSUs for the common stock of the Company, as the case may be, and any other rights to which you are
entitled under the Company’s benefit programs.

 

    	-5-

     

    

 

Conditions
to Receipt of Severance Benefits and Accelerated Vesting. Prior to and as a condition to your receipt of the Non-CIC Severance Benefits,
the CIC Severance Benefits, or the Accelerated Vesting, you shall execute and deliver to the Company an effective release of claims in
favor of and in a form acceptable to the Company (the “Release”) within the timeframe set forth therein, but not later
than forty-five (45) days following your Separation from Service date, and allow the Release to become effective according to its terms
(by not invoking any legal right to revoke it) within any applicable time period set forth therein (such latest permitted

effective
date, the “Release Deadline”).

 

Return
of Company Property. Upon the termination of your employment for any reason, as a precondition to your receipt of the Non-CIC Severance
Benefits, the CIC Severance Benefits, and the Accelerated Vesting, as applicable (if and as applicable), within five (5) business days
after your Separation from Service Date (or earlier if requested by the Company), you must return to the Company all Company documents
(and all copies thereof) and other Company property in your possession, custody or control, including, but not limited to, Company files,
notes, financial and operational information, password and account information, customer lists and contact information, prospect information,
product and services information, research and development information, drawings, records, plans, forecasts, pipeline reports, sales
reports or other reports, payroll information, spreadsheets, studies, analyses, compilations of data, proposals, agreements, sales and
marketing information, personnel information, specifications, code, software, databases, computer-recorded information, tangible property
and equipment (including, but not limited to, computers, facsimile machines, mobile telephones, tablets, handheld devices, and servers),
credit cards, entry cards, identification badges and keys, and any materials of any kind which contain or embody any proprietary or confidential
information of the Company, and all reproductions thereof in whole or in part and in any medium, other than any document you would be
required to retain by applicable law or produce in any investigation by a regulatory or governmental agency or court of competent jurisdiction.
You further agree that you will make a diligent search to locate any such documents, property and information and return them to the
Company within the timeframe provided above. You also must provide the Company all passwords, log-ins, administrative access, and any
other information or access for and relating to any Company computer or other device that you have used to access or use the Company’s
network, as well as any Company database or Company accounts with third parties which you established, administered, or to which you
had access, and must terminate your access to such network and accounts and otherwise comply with any Company requests regarding all
such access and accounts. In addition, if you have used any personal computer, server, or email system to receive, store, review, prepare
or transmit any confidential or proprietary data, materials or information of the Company, then within five (5) business days after your
Separation from Service date (or earlier if requested by the Company) you must provide the Company with a computer-useable copy of such
information and permanently delete and expunge such confidential or proprietary information from those systems without retaining any
reproductions (in whole or in part); and you agree to provide the Company access to that portion of your system containing or which contained
such information, as requested, to verify that the necessary copying and deletion is done. If requested, you shall deliver to the Company
a signed statement certifying compliance with this Section prior to the receipt of the Non-CIC Severance Benefits, the CIC Severance
Benefits, or the Accelerated Vesting, as applicable.

 

    	-6-

     

    

 

Definitions.
For purposes of this Agreement, the following terms shall have the following meanings:

 

“Cause”
for termination will mean your: (a) commission or conviction (including a guilty plea or plea of nolo contendere) of any felony or any
other crime involving fraud, dishonesty or moral turpitude; (b) commission or attempted commission of or participation in a fraud or
act of dishonesty or misrepresentation against the Company; (c) material breach of your duties to the Company; (d) intentional damage
to any property of the Company causing material harm to the Company; (e) gross misconduct, or other material violation of Company policy
that causes, or reasonably could be anticipated to cause, harm; (f) material violation of any written and fully executed contract or
agreement between you and the Company, including without limitation, material breach of your Confidentiality Agreement, or of any Company
policy, or of any statutory duty you owe to the Company The determination that a termination is for Cause shall be made by the Company
in its sole discretion.

 

You
shall have “Good Reason” for resigning from employment with the Company if any of the following actions are taken
by the Company without your prior written consent: (a) a material reduction in your base salary (unless pursuant to a salary reduction
program applicable generally to the Company’s similarly situated employees of not more than 25%) or reduction in your eligibility
to the incentive equity grants noted above or for other bonuses and benefits; (b) a material reduction in your duties (including responsibilities
and/or authorities) or title, provided, however, that a change in job position shall not be deemed a “material reduction”
in and of itself unless your new duties are materially reduced from the prior duties; or (c) relocation of your principal place of employment
to a place that increases your one-way commute by more than 25 miles as compared to your then-current principal place of employment immediately
prior to such relocation. In order to resign for Good Reason, you must provide written notice to the Board within 30 days after the first
occurrence of the event giving rise to Good Reason setting forth the basis for your resignation, allow the Company at least 30 days from
receipt of such written notice to cure such event, and if such event is not reasonably cured within such period, you must resign from
all positions you then hold with the Company not later than 30 days after the expiration of the cure period.

 

Entire
Agreement. This letter, along with the Confidential Information and Arbitration Agreement, the Plan and any applicable Plan award
agreement, set forth the entire agreement between you and the Company regarding the terms of your employment. By signing below, you are
agreeing to these terms, and you acknowledge and agree that you are not relying on any representations, promises or statements, oral
or written, other than those contained in this letter and the Confidential Information and Arbitration Agreement. This letter, including,
but not limited to, its at-will employment provision, may not be modified or amended except by a written agreement signed by the CEO
of the Company and you. This offer of employment will terminate if it is not accepted, signed and returned by April 20, 2021.

 

    	-7-

     

    

 

To
accept the Company’s offer, please sign and date this letter in the space provided below. We look forward to your acceptance of
this offer and to working with you at Metromile, Inc.

 

Sincerely,

 

	/s/
    Dan Preston	 
	Dan
    Preston, CEO 	 

 

ACCEPTED
AND AGREED:

 

	/s/
    Regi Vengalil	 	2021-04-16	 	May
    24, 2021
	Regi
    Vengalil	 	Date	 	Anticipated
    Start Date

 

	Mailing
    Address:	7557
    Earl Ave NW Seattle, WA 98117

 

    	-8-

     

    

 

Exhibit A

 

Performance-Based RSU Terms

 

Capitalized
terms that are not otherwise defined in this Exhibit A or the corresponding agreement shall have the meanings set forth in the Plan.

 

The
terms below shall apply to your Performance-Based RSUs subject to your Continuous Service through the applicable vesting date:

 

 1) $416,666 of the value of the Performance-Based RSUs shall vest upon the date on which the Company first achieves an active number of “policies in force” greater than or equal to 250,000, as determined by the Board in its sole discretion.

 

 2) $416,666 of the value of the Performance-Based RSUs shall vest upon the date on which the Company first achieves an active number of “policies in force” greater than or equal to 500,000, as determined by the Board in its sole discretion.

 

 3) $833,334 of the value of the Performance-Based RSUs shall vest upon the date on which the Company first achieves a positive operating cashflow (excluding marketing expenses, device expenses, new business underwriting expenses and reinsurance expenses) for a period of at least one financial quarter, as determined by the Board in its sole discretion and based on the Company’s books and records.

 

 4) $833,334 of the value of the Performance-Based RSUs shall all vest upon the achievement of a $25 per share price of the Company’s common stock for any twenty (20) Trading Days within any thirty (30) Trading Day period (the “Share-Based Milestone”). Notwithstanding the foregoing, the Share-Based Milestone shall be deemed satisfied as set forth in the table below in connection with a Change of Control (as defined in the Plan) that occurs prior to February 15, 2025 in connection with which the price per share shall be the per share value paid for all of the shares of each class of common stock of the Company or any successor entity in connection with a Change of Control as of the date thereof. In the event of a stock-for-stock acquisition, the value of the acquiror’s shares shall be valued based on the volume weighted average closing price over the 60-day period ending on and including the trading day occurring on the day prior to consummation of such Change of Control.

 

	Price per share	 	Percentage of Performance-Based RSUs Subject to the Share-Based Milestone Vesting	 
	At least $25 but less than $30	 	 	33	%
	At least $30 but less than $35	 	 	66	%
	At least $35	 	 	100	%

 

    	-9-

     

    

 

If
the Share-Based Milestone is not met on or before February 15, 2025, all Performance-Based RSUs that are subject to the Share-Based Milestone
will be forfeited. In the event of a Change of Control, the vesting conditions for all Performance-Based RSUs, other than the Performance-Based RSUs subject to the Share-Based Milestone (which shall vest in accordance with (4) above), shall be deemed to have been achieved
as of the closing of such Change of Control in the proportion set forth in the table above (e.g. if the price per share is less than
$25, none of the Performance-Based RSUs shall be deemed to have been achieved, if the price per share is $35 or more, all of the Performance-Based
RSUs shall be deemed to have been achieved etc.).

 

Notwithstanding
anything in this Exhibit A to the contrary, if vesting conditions for Performance-Based RSUs are otherwise met prior to the first release
of shares from any applicable lockup agreement restricting shares of the Company’s common stock (the “Lockup”),
the Performance-Based RSUs will not vest until following the first release of shares from the Lockup.

 

Any
of the share amounts and share prices for Performance-Based RSUs shall be automatically adjusted in the event of stock splits, any extraordinary
dividend or other extraordinary distribution, combinations and the like occurring prior to the date of grant.

 

 

-10-

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