Document:

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                                                                   Exhibit 10.13

                                                        [TRANSLATED FROM HEBREW]

                          ASIC TRANSMITTER DEVELOPMENT,
                         DESIGN AND PRODUCTION AGREEMENT

                 Made in Yoqneam this 13th day of December 1998

BETWEEN:          GIVEN IMAGING LTD.

                  of PO Box 258, Yokneam Elite 20692

                  (hereinafter referred to as "Given Imaging")

                                                                 OF THE ONE PART

AND:              ASICOM TECHNOLOGIES LTD

                  of Matam Industrial Park, Haifa 31905

                  (hereinafter referred to as "Asicom")

                                                               OF THE OTHER PART

WHEREAS           Given Imaging has know-how, expertise and experience in a
                  single-use, disposable, ingestible capsule and wishes to order
                  the development, design and manufacture of an ASIC transmitter
                  (hereinafter referred to as "the Product") in accordance with
                  the specification annexed hereto as an integral part hereof
                  and marked Appendix "A" (hereinafter referred to as "the
                  Specification");

AND WHEREAS       Asicom has the know-how, expertise, experience, manpower and
                  ability to develop and design the Product as required by the
                  Specification and it has submitted to Given Imaging Ltd a
                  price quotation for the development, design and manufacture of
                  ASIC, which is numbered 980058 and annexed hereto as Appendix
                  "B".

NOW THEREFORE IT IS WARRANTED, PROVIDED AND AGREED BETWEEN THE PARTIES AS
FOLLOWS:
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1.       RECITALS, APPENDICES AND HEADINGS

         1.1        Given Imaging Ltd orders from Asicom the development and
                    manufacture of ASIC components in accordance with the
                    Specification (Appendix "A"), the price quotation in
                    Appendix "B" and the provisions of this agreement.

         1.2        The recitals hereto, including all the warranties contained
                    therein, constitute an integral part hereof.

         1.3        The appendices hereto constitute an integral part hereof.

         1.4        The headings are solely for the sake of convenience and
                    shall not be applied for interpretation purposes.

         1.5        In the event of a discrepancy between the provisions of this
                    agreement and previous, written and/or oral arrangements
                    between the parties, the provisions of this agreement shall
                    prevail.

         1.6        In the event of a discrepancy between the provisions of this
                    agreement and the price quotation (Appendix "B"), the price
                    quotation shall prevail.

2.       DETAILS OF IMPLEMENTATION

         The performance details are set out in the Specification: (Appendix
         "A") and in this agreement shall be done pursuant to them. Given
         Imaging Ltd reserves the right to alter particulars in the course of
         development as necessary. Alterations shall be made subject to the
         provisions in Appendix "B" (the price quotation).

3.       THE CONSIDERATION AND PAYMENT DATES

         3.1        For the Product's development and design Given Imaging Ltd
                    undertakes to pay Asicom $ * , plus an incentive of $ *
                    subject to meeting the targets, as set out in the price
                    quotation (Appendix "B").

         3.2        The payment shall be made in accordance with the work's
                    progress, as certified in writing by Given Imaging Ltd's
                    authorised representative, Dr.

----------
*     Omitted pursuant to a confidential treatment request. The confidential
      information has been filed separately with the SEC.

                                                                               2
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                    Arkadi Glukhovski, and it shall be made against a tax
                    invoice on 30 day payment terms.

                    Details of the work that is to be executed for each
                    milestone and the dates for its completion are set out in
                    Appendix "B" (the price quotation).

         3.3        Asicom warrants that none of its activity that is being
                    performed subject to this agreement is supported by any
                    government entity. Given Imaging Ltd may exercise its
                    entitlement to support from the Chief Scientist in its
                    discretion and in accordance with its legal rights.

4.       The parties shall cooperate in the course of the work's progress.
         Asicom shall permit Given Imaging Ltd's personnel to inspect the
         documents relating to the work's performance and to review the course
         thereof and Asicom's compliance with the specifications, all by prior
         arrangement between the parties.

         4.1        An alteration to the specification that requires additional
                    work shall be charged at $ * per hour, including alterations
                    that derive from discrepancies within the Specification.

         4.2        Design alterations due to Asicom's errors - without
                    consideration.

5.       DESIGN CORRECTIONS

         Asicom undertakes to make corrections that are required during the
         course of the development and warranty period. The design corrections
         shall be dealt with by Asicom within a reasonable time, with the
         proposed technical solution to the problems presented by Given Imaging
         Ltd shall be submitted within the shortest possible time. The cost of
         the corrections - in accordance with clauses A and B.

6.       WARRANTY FOR THE DESIGN

         Asicom undertakes that its warranty for faulty design will endure for
         12 months from the date of the project's completion. During that period
         Asicom shall make design changes, as necessary and at Given Imaging
         Ltd's request, without further consideration for the design or the
         change.

7.       CONFIDENTIALITY

----------
*     Omitted pursuant to a confidential treatment request. The confidential
      information has been filed separately with the SEC.

                                                                               3
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         The parties undertake to keep confidential all information that comes
         to their knowledge from the other party hereto. Such information shall
         be regarded as belonging to its owner and the other party undertakes to
         keep it confidential and prevent its being brought to the knowledge of
         any third party. The parties shall sign a confidentiality undertaking,
         which shall be annexed hereto as Appendix "C" and constitute an
         integral part hereof. The confidentiality document shall also be signed
         by the employees who are engaged in the project. Confidentiality shall
         not apply if the information was in the public domain and/or comes to
         the knowledge of the other party through a party who was entitled to do
         so.

8.       ASSIGNMENT OF RIGHTS

         8.1        Asicom may not assign and/or transfer all or any of its
                    rights under this agreement, directly or indirectly, save
                    for work to sub-contractors, which work shall be agreed in
                    writing between the parties.

         8.2        An "Assignment of Rights" letter is annexed hereto (Appendix
                    "D"). Given Imaging Ltd may only use the said document if
                    Asicom cannot meet the delivery of the products in
                    accordance with procurement orders.

9.       TERMINATION OF AGREEMENT

         9.1        Subject as provided below, this agreement is in force until
                    completion of all the obligations of the parties that derive
                    herefrom, save for clause 15.

         9.2        Given Imaging Ltd reserves the right to terminate the
                    project in the course of development for any cause without
                    compensation. The aforegoing shall not prejudice Given
                    Imaging Ltd's duty to bear the defined payments for those
                    milestones that have been completed by the project's
                    cancellation.

         9.3        Given Imaging Ltd shall be entitled to receive all the
                    know-how and technology relevant to the project that is in
                    Asicom's possession solely in the development stage, on the
                    fulfilment of either of the following conditions:

                    9.3.1       Asicom ceases work on the project for 30 days or
                                more (unless the stoppage derives from Given
                                Imaging Ltd's failure to meet the payments or
                                its other obligations);

                    9.3.2       Asicom's inability to complete the development.

10.      MODIFICATIONS TO THE AGREEMENT

                                                                               4
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         Any modification to this agreement shall only be effective if made in
         writing and signed by both parties.

11.      MASTER AND SERVANT RELATIONSHIP

         It is hereby agreed and declared that Asicom shall perform its duties
         pursuant to this agreement as an independent contractor and this
         agreement does not create an employer-employee relationship between
         Given Imaging Ltd and Asicom and/or any of its employees and it does
         not grant them any right to severance pay or other social benefits.

12.      INSURANCE

         Asicom warrants that it is covered by third party liability insurance
         and employers' insurance and that the said insurance applies to the
         work involved in this agreement. It is agreed that Given Imaging Ltd
         and its employees are also INTER ALIA deemed a third party for the
         purpose of the said insurance when visiting Asicom.

         Given Imaging Ltd warrants that it is covered by third party liability
         insurance and employers' insurance and that the said insurance applies
         to the work involved in this agreement. It is agreed that Asicom and
         its employees are also INTER ALIA deemed a third party for the purpose
         of the said insurance when visiting Given Imaging Ltd.

13.      RIGHTS IN THE DEVELOPMENT RESULTS

         13.1       THE DEVELOPMENT RESULTS

                    13.1.1      Given Imaging Ltd has the whole and exclusive
                                right to use the Product and its applications.
                                Asicom shall not market or contract any third
                                party for the purpose of marketing the Product.

                    13.1.2      Asicom declares that it is not aware that the
                                technology applied in the Product or in the
                                development pursuant to this agreement
                                constitutes an infringement of any third party's
                                patent right, copyright or trade secret.

                    13.1.3      Any patents in respect of the Product's
                                development  shall be for the benefit of Given
                                Imaging Ltd.

                                                                               5
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14.      KEY PERSONNEL

         The project managers shall be:

         A key person on behalf of Asicom for the purpose of this agreement's
         performance is Dr Aharon Onikovski, who shall devote the whole time
         required from him for the work relating to the project. His absence
         from the project for a period of more than 30 successive days during
         the development period, save for absences beyond Asicom's control,
         shall be deemed a breach of the agreement.

         Key personnel on behalf of Given Imaging Ltd: Dr. Arkadi Glukhovski.

15.      NOTICES

         It is agreed that any notice that is sent by one party to the other by
         registered mail in accordance with the addresses set out in the heading
         hereto shall be deemed to have been delivered within seven days of the
         date of posting.

16.      ARBITRATION

         Differences in any respect deriving from this agreement shall be
         referred for the decision of an arbitrator agreed between the parties.
         In the absence of agreement, an arbitrator shall be appointed by the
         President of the Israel Bar in Haifa.

         The parties' signature on this agreement shall be equivalent to the
         signature of an arbitration deed.

                       AS WITNESS THE HANDS OF THE PARTIES

----------------                                                ----------------
Given Imaging Ltd (the Customer)                                       Asicom

                                                                               6
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                            ASICOM Technologies Ltd.

TO:           Gavriel Meron            FROM:       Yoav Shoham

              GIVEN Imaging Ltd.                   Asicom Technologies Ltd.

                                                   MATAM Industrial Park

                                                   Haifa 31905

                                                   Israel

Phone:        049599517                Email:      asicom@netvision.net.il

Fax Phone:    049592466                Phone:      972-4-8550449

                                       Fax Phone:  972-4-8550441

                                       Date:       3 December. 1998

REF:                                               Number of pages including
                                                   cover sheet: ___

SUBJECT:      Quotation 980058 for development and supply of Transmitter/
              Controller - ASIC

Dear Gabi:

After review of your electrical specifications (Version 1.2 from 24.9.98, we can
offer to you the following budgetary quotation.

TECHNICAL DESCRIPTION

                    1.2 with the following exceptions:

Item 2.2.1.1 Transmitter requirements

         Frequency accuracy: will be defined on top of XTL performance

         Spurious levels: will be discussed and agreed with Dr. Aharon Unikovski

NRE

NRE PRODUCTS:

25 samples in ceramic package
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Evaluation Board for ASIC specification test.

Documented Block Diagram, and ASIC User Manual.

N.R.E. TIME TABLE (ESTIMATION OF WEEKS FROM CUSTOMER PO OR ASIC SPECIFICATIONS
UP TO PIN DESCRIPTION LEVEL):

a)       ASIC Block level design and simulation at high level models software
         (Cadence AHDL-Verilog) 10 weeks. DRI at the end of that step.

b)       Schematic design of all the modeled blocks and verification of
         performance in modeled block environment: 22 weeks.

c)       _____________:  27 weeks

d)       Masks DRC (Design Rule Check), LVS (Layout vs. Schematic Check) and ERC
         (Electrical Rule Check). 29 weeks. DR2 at the end of that step.

e)       Prototypes batch at the FAB (production of 2 wafers with 2 backup
         wafers will be held before metal connection fabrication): 35 weeks.

f)       Testing (parametric) and packaging of 25 samples:  36 weeks.

g)       Optional on separate P/O for 1 untested wafer (contain >1000 dies): 36
         weeks.

h)       Documentation delivery to customer:  44 weeks

i)       Special effort will be done to deliver the prototypes after 34 weeks.

NRE

NRE cost: In case of prototypes deliver within 36 weeks from P/O * US$.

          In case of prototypes deliver after 36 weeks from P/O * US$.

NRE Payment Schedule:

1)       *        US$ at P/O

2)       *        US$ at DRI.

3)       *        US$ at DR2.

4)       *        US$ at prototypes delivery (+ * US$ in case of prototypes
         delivery within 36 weeks from P/O).

* Omitted pursuant to a confidential treatment request. The confidential
information has been filed separately with the SEC.
<Page>

5)       *        US$ at delivery of Documentation.

6)       Optional for additional untested prototypes units on 1 wafer (is
         greater than 1000 dies) at cost of * US$

In case of spec. modifications that affect the design work period, the related
extra work period      wi__                  36                         4).

PRODUCTION

1)       The price list base on assumption that the minimum accumulative
         production volume, for the first two years, will be at average level of
         * US$/year.

2)       Production unit delivery period after prototypes confirmation: 14 16
         weeks.

3)       The production units will be at dies format (scribed wafers) and 100%
         DC tested.

4)       Minimum shipment of 10% of the ordered quantity or 10,000 units
         whichever is higher.

5)       supply Given with production units, then Given can buy the units at the
         same price from * via third neutral party that will be selected by
         Given.

PRODUCTION UNTIS PRICE LIST

Production unit price for 800,000 units at single P/O:  *   US$/Unit

Production unit price for 400,000 units at single P/O:  *   US$/Unit

Production unit price for 200,000 units at single P/O:  *   US$/Unit

Production unit price for 100,000 units at single P/O:  *  US$/Unit

Production unit price for 50,000 units at single P/O:   *  US$/Unit

Production unit price for 10,000 units at single P/O:   *  US$/Unit

ASICOM GENERAL TERMS AND CONDITIONS

1.       All prices do not include VAT.

2.       All NRE payments will be paid at Israeli Shekels (IS) and subjected to
         the Israeli inflation rate. The $US-IS conversion rate will be
         according the representative rate at that quotation date (3 December,
         1998).

* Omitted pursuant to a confidential treatment request. The confidential
information has been filed separately with the SEC.

<Page>

3.       All payment will be deposit in ASICOM bank account 30 days from invoice
         date (including VAT).

4.       The NRE quotation is valid for 60 days, the production unit price is
         valid for 6 months after prototypes confirmation.

5.       Production units prices are FOB (Frankfurt) prices. Payments from
         production units will be deposit at US$ currency. Separate invoice will
         be issued to customer every quarter to cover insurance and
         transportation cost from Frankfurt to customer selected location.

6.       Asicom will not transfer customer circuits, ideas, units or samples to
         any third party unless permitted by customer.

7.       In case of spec modification, with impact on unit price, design work,
         simulation software, masks set, prototypes batch, prototypes packaging
         and Asicom test equipment parties will renegotiate the contract.

8.       The interconnection of the ASIC cells will be customer property and the
         cells themselves will remain Asicom property.

9.       All masks, testing software and hardware will be Asicom property.

10.      Prototype approval will perform at stand alone evaluation test board
         with standard test equipment against agreed upon spec.

11.      Selling of systems that include prototypes or production units by
         customer, will be deem as prototypes approval for any payment that
         subjected to prototypes approval.

12.      The Buyer may reject all Production units delivered under this
         agreement within ninety (90) days after arrival to the nominated place
         of Delivery if they do not conform to the Prototypes specifications. If
         not rejected within such ninety (90) days, they shall be deemed to have
         been accepted.

13.      Each customer purchase order (P/O) shall be subject to the terms and
         conditions of this Quotation. In case of a conflict the between P/O and
         the Quotation, the Quotation shall override the P/O and /or its
         annexes. Each P/O together with the Seller's acknow-ledgment thereof
         shall constitute an individual ____ between the Seller and Buyer.

14.      In no event shall Seller be liable for indirect, special, incidential,
         or consequential damages due to any warranty in this quotation, patent
         indemnity, or any other cause whatsoever. No suit or action shall be
         brought against Seller more than one (1) year after the related cause
         of action has occurred. In no event ________ the accrued total
         liability of Seller from any claim, lawsuit, warranty, or indemnity
         related to this Agreement exceed the aggregate sum paid to Seller by
         Buyer under this Quotation.

15.      Custom Products sold by Seller are not designed for use in life support
         equipment or equipment where malfunction of such Custom Products can
         reasonably be expected to

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         result in personal injury of death. Buyer uses or sells such Custom
         Product for use in life support equipment at Buyer's own risk and
         agrees to fully indemnify Seller from any all damages resulting from
         such use or sale.

16.      If customer will decide to stop the project, the accumulative payments
         until that point will not ________ returned Asicom.

Best Regards,

Yoav Shoham, G. Manager - Asicom Tec. Ltd.

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                     Given Transmitter ASIC - Specification
                                  (Version 1.1)

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1.     Introduction

This document specifies a wireless transmitter ASIC to be developed. The
specification will contain all the required information to enable the design and
production of a mixed signal ASIC for the transmitter.

1.1.     Functional description

The transmitter accepts data from the Imager, modulates the data and then
amplifies the modulated signal. After amplification, the signal is passed to the
ASIC RF port.

         *

1.2.     Definitions

The following definitions apply to this spec:

         *

* Omitted pursuant to a confidential treatment request. The confidential
information has been filed separately with the SEC.

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1.2.1.   Transmitter MODEs general description

                         *

1.3.     General Requirements

Low power consumption (ON, DEAD and STBY modes).
Small dimensions.
High transmitter efficiency.
Transmission only
Very low power consumption at SLEEP mode
Frequency band:  400 - 433 MHz (preliminary)
Minimum additional discrete components

* Omitted pursuant to a confidential treatment request. The confidential
information has been filed separately with the SEC.
<Page>

1.4.     Transmitter/Controller block diagram

         *

* Omitted pursuant to a confidential treatment request. The confidential
information has been filed separately with the SEC.

<Page>

2.       System Specification

2.1.     Functional Requirements

         o        Encoding Modulation and Transmission of data.
         o        Internal and external (subsystems) control
         o        Providing internal and external timing as required.
         o        Providing test functions.

2.2.     Electrical Specification

2.2.1    Radio Sub-unit Requirements

2.2.1.1  Transmitter Requirements

         o        Power output (minimum):  *
         o        Output Impedance:  TBD
         o        Modulation:  MSK modulation index  *
         o        Channel bit rate:  CLK or CLK/2
         o        Frequency accuracy:  100 ppm (in one year time)
         o        PLL settling time to 10 KHz:  *
         o        Spurious levels:  20 dBc (Design goal)

2.2.1.2    Analog electrical interfaces

         o        RF port: Differential (2 lines), levels TBD (will be defined
                  after performing computer simulation, during the ASIC design).
         o        Crystal interface - Differential (2 lines), according to
                  crystal specification
         o        Loop filter: interface - 2 lines. Preference for internal loop
                  filter
         o        Resonator inductor - 2 lines
         o        DEAD mode Timer - analog input (resistor) for selecting
                  transition time between ON and DEAD modes

2.2.2.   Baseband (and Controller) Sub-unit Requirements

         o        Generate System Clock
                  - Crystal frequency:  TBD
                  - Crystal accuracy:  100 ppm
         o        Output CLK frequency:
         o        Generate external system timing
         o        Generate internal timing and mode control
         o        Provide timer for 80 Hours, Resolution 10ms

* Omitted pursuant to a confidential treatment request. The confidential
information has been filed separately with the SEC.

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2.2.2.1.   Digital Interfaces

           *

2.2.3.     Control Requirements

2.2.3.1.   Internal control definition

           *

           The internal control is composed of a main state machine running in 1
           second cycle. There are two operational MODEs - transmission in ON
           mode where data from other subsystems should be transmitted and
           transmission in DEAD mode where a very short internally produced
           signal is transmitted as a beacon (other sub systems are not
           activated).

* Omitted pursuant to a confidential treatment request. The confidential
information has been filed separately with the SEC.

<Page>

2.2.3.2.  Internal control state diagram

          *

* Omitted pursuant to a confidential treatment request. The confidential
information has been filed separately with the SEC.

<Page>

2.2.3.1.2.      ON mode Transmission process state diagram

                *

* Omitted pursuant to a confidential treatment request. The confidential
information has been filed separately with the SEC.

<Page>

2.2.3.3.        ON MODE Timing diagram

                *

* Omitted pursuant to a confidential treatment request. The confidential
information has been filed separately with the SEC.

<Page>

2.2.3.4.        DEAD mode process state diagram

                *

         The following parameters will be defined:

*

* Omitted pursuant to a confidential treatment request. The confidential
information has been filed separately with the SEC.

<Page>

3.       Power supply requirements

         Supply voltage:

         Maximum power consumption:

                           *

4.       Mechanical Requirements

4.1.     ASIC Required Dimensions

The dye dimensions should be bound by 3mm x 3mm x 0.8mm.

5.       Environmental Requirements.

         o        Operating Temperature:  30 to 45 (C)
         o        Storage temperature:  --20 to 60 (C)
         o        Burn in temperature:  TBD

6.       Reliability

         TBD

7.       Test Requirements

         The following tests are to be performed as a minimum, during the final
         state of development and during production.

         o        Acceptance tests:

                  These tests intend to prove system functionality from the
                  aspect of interface behavior, mechanical structure and power
                  requirements (comparing to all spec. requirements).

         o        Type Approval:

         o        Production tests:
                  TBD

* Omitted pursuant to a confidential treatment request. The confidential
information has been filed separately with the SEC.<Page>

                                                                   EXHIBIT 10.14

                               GIVEN IMAGING LTD.

                        ORDINARY SHARE PURCHASE AGREEMENT

      THIS ORDINARY SHARE PURCHASE AGREEMENT (the "AGREEMENT") is made and
entered into as of the 21st day of August, 2001 by and among Given Imaging Ltd.
(the "COMPANY"), a company incorporated under the laws of the State of Israel,
and PW Juniper Crossover Fund, LLC (the "Purchaser").

      WHEREAS, the Purchaser desires to purchase a number of ordinary shares of
the Company (the "ORDINARY SHARES") from the Company to be calculated in the
manner set forth below, subject to and in accordance with, the terms and
conditions set forth herein; and

      WHEREAS, the Company proposes to file a registration statement with the
U.S. Securities and Exchange Commission (the "SEC") for the purpose of
conducting an initial public offering (the "IPO") of Ordinary Shares.

      In consideration of the premises and mutual covenants contained in this
Agreement, the parties hereto hereby agree as follows:

      1.    DEFINITIONS. When used in this Agreement, the following terms shall
have the meanings specified below:

            "BUSINESS DAY" means any day, other than a Friday, Saturday or
Sunday or a day on which banks located in New York, New York or Israel shall be
authorized or required by law to close.

            "PER SHARE PURCHASE PRICE" means the gross public offering price per
share of the Company's Ordinary Shares to be offered to the public in the IPO
prior to any public trading.

            "PURCHASE PRICE" means six million dollars ($6,000,000) to be paid
by the Purchaser to the Company in the manner set forth herein.

            "PURCHASED SHARES" means the number of Ordinary Shares that is equal
to the largest whole number obtained when the Purchase Price is divided by the
Per Share Purchase Price.

            "REGISTRATION STATEMENT" means the final, effective version of the
Company's registration statement on Form F-1 relating to the IPO.

      2.    PURCHASE AND SALE OF ORDINARY SHARES.

            2.1. SALE AND ISSUANCE OF ORDINARY SHARES. Subject to the terms and
conditions of this Agreement, the Purchaser agrees to purchase, and the Company
agrees to issue and sell, at the Closing (as defined below) the Purchased
Shares, in consideration for the Purchase Price. The Purchased Shares shall have
the rights, preferences, privileges and restrictions set forth in the form of
amended Articles of Association of the Company to be

<Page>

adopted immediately prior to the closing of the IPO. Notwithstanding anything
herein to the contrary, the Company shall not be obligated to sell the Purchased
Shares to the Purchaser at the Closing unless the Purchaser purchases all of the
Purchased Shares in accordance with terms of this Agreement. The purchase and
sale of the Purchased Shares is intended to be a private placement and not a
public offering nor part of a public offering.

            2.2. CLOSING; DELIVERY. The purchase and sale of the Purchased
Shares (the "CLOSING") shall take place at the offices of Zellermayer, Pelossof
& Co., Rubenstein House, 20 Lincoln Street, Tel Aviv 67134, Israel on the fifth
(5th) Business Day following the closing date of the IPO or, if later, upon
satisfaction or waiver by the Company and the Purchaser of each of the
conditions set forth in Sections 5 and 6 (the "CLOSING DATE"). At the Closing,
the following transactions shall occur, which transactions shall be deemed to
take place simultaneously and none of them shall be completed or deemed to be
completed until all shall have occurred:

            (a) The Company shall deliver to the Purchaser an officer's
certificate, signed by the Chief Financial Officer of the Company in the form
attached as EXHIBIT A hereto (the "OFFICER'S CERTIFICATE") certifying the number
of shares to be issued to the Purchaser at the Closing.

            (b) The Company shall deliver to the Purchaser a certified copy of a
resolution of the Board of Directors of the Company issuing and allotting the
Purchased Shares to the Purchaser.

            (c) The Company shall register the Purchaser in its register of
shareholders as the owner of the Purchased Shares and shall instruct the stock
transfer agent of the Ordinary Shares to issue to the Purchaser a validly
executed share certificate representing the Purchased Shares promptly following
the Closing.

            (d) The Company shall deliver to the Purchaser a duly executed
certificate of confirmation from the Secretary of the Company certifying that
the Purchaser has been duly registered in the shareholders' register of the
Company as the owner of the Purchased Shares.

            (e) In consideration for the issuance and sale of the Purchased
Shares, the Purchaser shall transfer to the Company the Purchase Price by wire
transfer in immediately available funds to the Company's bank account at Bank
Leumi, Branch 876, Account No. 121300/63 (or to such other account as the
Company shall designate in writing to the Purchaser no less than three (3)
Business Days prior to the Closing Date).

      3.    REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company hereby
represents and warrants the following to the Purchaser:

            3.1. ORGANIZATION, GOOD STANDING AND QUALIFICATION. The Company is a
company duly organized, validly existing and in good standing under the laws of
the State of Israel. The Company has the requisite corporate power and authority
to carry on its business as now conducted and as presently proposed to be
conducted, to execute and deliver this

                                      -2-
<Page>

Agreement, to issue and sell the Purchased Shares, and to carry out the
provisions of this Agreement.

            3.2. AUTHORIZATION. The Company has taken all corporate action
necessary for the authorization, execution and delivery of this Agreement, and
all corporate action necessary for the performance of all obligations of the
Company hereunder and the authorization, issuance, sale, and delivery of the
Purchased Shares has been taken or will be taken prior to the Closing. This
Agreement constitutes a valid and binding obligation of the Company, enforceable
against the Company in accordance with its terms except (i) as limited by
applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance, and other laws of general application affecting enforcement of
creditors' rights generally, or (ii) as limited by laws relating to the
availability of specific performance, injunctive relief, or other equitable
remedies.

            3.3. VALID ISSUANCE OF ORDINARY SHARES. The Purchased Shares, when
issued, sold and delivered in accordance with the terms hereof in consideration
for the Purchase Price, will be (a) duly and validly issued, fully paid and
non-assessable, and (b) free and clear of any pledges, encumbrances, attachments
or other third party rights and of restrictions on transfer other than
restrictions on transfer under applicable securities laws.

            3.4. DISCLOSURE. The Registration Statement will not, as of the date
and the time as of which the Registration Statement, or the most recent
post-effective amendment thereto, if any, was declared effective by the
Commission (the "EFFECTIVE DATE"), contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they
were made, not misleading.

            3.5. ACCOUNTANTS AND FINANCIAL STATEMENTS. As of the Effective Date,
the consolidated financial statements (including all related notes and
schedules) of the Company and its subsidiaries contained in the Registration
Statement fairly present in all material respects the financial position and
results of operations of the Company and its subsidiaries at the respective
dates and for the respective periods to which they apply. Such financial
statements have been prepared in accordance with generally accepted accounting
principles of the United States consistently applied throughout the periods
involved.

      4.    REPRESENTATIONS AND WARRANTIES OF THE PURCHASER. The Purchaser
hereby represents and warrants to the Company that:

            4.1. ORGANIZATION, GOOD STANDING AND QUALIFICATION. The Purchaser is
a corporation duly organized, validly existing and in good standing under the
laws of the state of its incorporation. The Purchaser has the requisite
corporate power and authority to carry on its business as now conducted and as
presently proposed to be conducted, to execute and deliver this Agreement and to
carry out the provisions of this Agreement.

            4.2. AUTHORIZATION. The Purchaser has taken all corporate action
necessary for the authorization, execution and delivery of this Agreement, and
all corporate action necessary for the performance of all obligations of the
Purchaser hereunder has been taken or will be taken

                                      -3-
<Page>

prior to the Closing. This Agreement constitutes a valid and legally binding
obligation of the Purchaser, enforceable against the Purchaser in accordance
with its terms except (i) as limited by applicable bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance, and other laws of general
application affecting enforcement of creditors' rights generally, or (ii) as
limited by laws relating to the availability of specific performance, injunctive
relief, or other equitable remedies.

            4.3. PURCHASE ENTIRELY FOR OWN ACCOUNT. The Purchaser is acquiring
the Purchased Shares for its own account, not as a nominee or agent, and not
with a view to the resale or distribution of any part thereof, nor with the
present intention of distributing or selling the same. The Purchaser has no
present or contemplated agreement, undertaking, arrangement, obligation or
commitment providing for the disposition thereof.

            4.4. DISCLOSURE OF INFORMATION. Without derogating from the
representations of the Company in Section 3: (i) the Purchaser has received all
information required which it deems relevant for the purpose of its investment,
(ii) the Purchaser has been given the opportunity to ask questions of, and
receive answers from, the Company concerning the Company and other matter
pertaining to this investment and the business, prospects and financial
condition of the Company and to obtain additional information concerning the
Company and the Purchased Shares (to the extent the Company possessed such
information or could acquire it without unreasonable effort or expense), (iii)
the Purchaser is aware that the Company is a development stage company which has
not yet commenced commercial sales of its product and that there can be no
assurance that the Company will achieve its business or technological
objectives, that the Purchaser's investment in the Company involves a high
degree of risk, and (iv) the Purchaser acknowledges that it can economically
sustain the loss of its investment in the Purchased Shares.

            4.5. RESTRICTED SECURITIES. The Purchaser understands that the
Purchased Shares have not been registered under the U.S. Securities Act of 1933,
as amended (the "SECURITIES ACT"), by reason of a specific exemption from the
registration provisions of the Securities Act which depends upon, among other
things, the bona fide nature of the investment intent and the accuracy of the
Purchaser's representations as expressed herein. The Purchaser understands that
the Purchased Shares are "restricted securities" under applicable U.S. federal
and state securities laws and that, pursuant to these laws, must be held by the
Purchaser indefinitely unless they are registered with the Securities and
Exchange Commission and qualified by state authorities, or an exemption from
such registration and qualification requirements is available. The Purchaser
further acknowledges that if an exemption from registration or qualification is
available, it may be conditioned on various requirements including, but not
limited to, the time and manner of sale, the holding period for the Purchased
Shares, and on requirements relating to the Company which are outside of the
Purchaser's control, and which the Company is under no obligation and may not be
able to satisfy.

            4.6. QUALIFIED INSTITUTIONAL BUYER. The Purchaser is a "qualified
institutional buyer" as defined in Rule 144A under the Securities Act.

                                      -4-
<Page>

            4.7. LEGENDS. The Purchaser understands that the Purchased Shares
will bear the following legend and any legend required by state securities laws:

            "The securities represented by this certificate have not been
            registered under the Securities Act of 1933, as amended, or any
            other securities laws. These securities have been acquired for
            investment and not with a view to distribution or resale. Such
            securities may not be offered for sale, sold, delivered after sale,
            transferred, pledged or hypothecated in the absence of an effective
            registration statement covering such securities under the Securities
            Act of 1933 and any other applicable securities laws, unless the
            holder shall have obtained an opinion of counsel reasonably
            satisfactory to the corporation that such registration is not
            required."

            4.8. BROKERAGE COMMISSIONS. No broker's commissions were, or will be
required to be, paid by the Purchaser in connection with this transaction.

      5.    PURCHASER CLOSING CONDITIONS. The obligation of the Purchaser to
purchase the Purchased Shares shall be subject to the satisfaction or waiver of
the following conditions precedent on or prior to the Closing Date:

            5.1. TRUTH OF REPRESENTATIONS AND WARRANTIES. The representations
and warranties of the Company contained in this Agreement shall be true and
correct in all material respects on and as of the Closing Date with the same
effect as though such representations and warranties had been made on and as of
such date.

            5.2. APPROVALS. The execution and the delivery of this Agreement and
the consummation of the transactions contemplated hereby shall have been
approved by the following regulatory authorities: (i) the Investment Center of
the Israeli Ministry of Industry and Trade (the "INVESTMENT CENTER"), and (ii)
the Office of the Chief Scientist of the Israeli Ministry of Industry and Trade
(the "OFFICE OF THE CHIEF SCIENTIST").

            5.3.  CLOSING OF THE IPO. The closing of the IPO of the Ordinary
Shares shall have occurred.

            5.4.  DELIVERY OF DOCUMENTS. All documents to be delivered by the
Company pursuant to Section 2.2 shall have been delivered.

      6.    COMPANY CLOSING CONDITIONS. The obligation of the Company to sell
the Purchased Shares at the Closing shall be subject to the satisfaction or
waiver of the following conditions precedent on or prior to the Closing Date:

            6.1. TRUTH OF REPRESENTATIONS AND WARRANTIES. The representations
and warranties of the Purchaser contained in this Agreement shall be true and
correct in all material

                                      -5-
<Page>

respects on and as of the Closing Date with the same effect as though such
representations and warranties had been made on and as of such date.

            6.2.  APPROVALS. The execution and the delivery of this Agreement
and the consummation of the transactions contemplated hereby shall have been
approved by the following regulatory authorities: (i) the Investment Center, and
(ii) the Office of the Chief Scientist.

            6.3. OFFICE OF THE CHIEF SCIENTIST UNDERTAKING. The Purchaser shall
have delivered to the Company an undertaking addressed to the Office of Chief
Scientist, in a form and of substance customarily acceptable by the Office of
the Chief Scientist, undertaking to comply with the Research and Development
Law.

            6.4.  CLOSING OF THE IPO. The closing of the IPO of the Ordinary
Shares shall have occurred.

      7.    COVENANTS OF THE PURCHASER

            7.1.  LOCK-UP. Concurrent with the signing of the this Agreement,
the Purchaser shall sign an undertaking addressed to Lehman Brothers Inc. in the
form set forth in EXHIBIT B.

            7.2. OFFICE OF THE CHIEF SCIENTIST. The Purchaser shall deliver to
the Company an undertaking addressed to the Office of Chief Scientist, in a form
and of substance customarily acceptable by the Office of the Chief Scientist,
undertaking to comply with the Research and Development Law.

            7.3. LEGAL OBLIGATIONS. Immediately after the Closing, the Purchaser
undertakes to file all the necessary documents and reports required to be filed
by the Purchaser by any relevant authority in Israel, the United States or
elsewhere, and to abide by all the appropriate rules, regulations and laws
applying to a non-Israeli equity holder, including, without limitation, any
undertakings required by the Office of Chief Scientist and timely filing of a
Schedule 13D under the Securities and Exchange Act of 1934, as amended,
reporting the acquisition of securities of a public company with the SEC.

      8.    INDEMNIFICATION.

            8.1. INDEMNIFICATION BY THE COMPANY. The Company shall indemnify,
defend and hold harmless the Purchaser and its officers, directors, partners,
members, employees and agents and each other person which controls (with the
meaning of the Securities Act) the Purchaser or any of its partners or members
(each, a "PURCHASER INDEMNITEE") against all liability, loss or damage, together
with all reasonable costs and expenses related thereto (including legal and
accounting fees and expenses as incurred), arising from the failure of any
representation or warranty of the Company contained in Section 3; provided,
however, that the Company shall not be liable to any Purchaser Indemnitee for
any loss or damage to the extent that it arises out of or is based the failure
of a representation or warranty which occurs in reliance upon and in

                                      -6-
<Page>

conformity with information furnished by a Purchaser Indemnitee. Notwithstanding
the foregoing, the aggregate amount that may be recovered from the Company by a
Purchaser Indemnitee under this Section 8.1 shall be limited to the Purchase
Price plus a return thereon at the rate of 8% per annum compounded quarterly.

            8.2. INDEMNIFICATION BY THE PURCHASER. The Purchaser shall
indemnify, defend and hold harmless the Company and its officers, directors,
partners, members, employees and agents and each other person which controls
(with the meaning of the Securities Act) the Purchaser or any of its partners or
members (each, a "COMPANY INDEMNITEE") against all liability, loss or damage,
together with all reasonable costs and expenses related thereto (including legal
and accounting fees and expenses as incurred), arising from the failure of any
representation or warranty of the Purchaser contained in Section 4.
Notwithstanding the foregoing, the aggregate amount that may be recovered from
the Purchaser by a Company Indemnitee under this Section 8.2 shall be limited to
the Purchase Price plus a return thereon at the rate of 8% per annum compounded
quarterly.

            8.3.  LIMITATION ON INDEMNFICATION.

            (a) The aggregate liability of (i) the Company, and (ii) the
Purchaser, arising out of, or related to this Agreement or the transactions
contemplated hereby, whether based on contract, warranty, tort, strict liability
or otherwise, including all rights to indemnification hereunder, shall not
exceed the Purchase Price plus a return thereon at the rate of 8% per annum
compounded quarterly.

            (b) The obligations to indemnify and hold harmless pursuant to
Sections 8.1 and 8.2 shall survive the consummation of the transactions
contemplated by this Agreement for a period of one (1) year after the discovery
of the failure of the representation or warranty subject to the claim, except
for claims for indemnification asserted prior to the end of such period which
shall survive until the final resolution thereof; provided, however, that in no
event shall the obligations to indemnify and hold harmless pursuant to Sections
8.1 and 8.2 survive after the date that is more than three (3) years after the
Closing Date.

      9.    TERMINATION.

            9.1. TERMINATION BY THE COMPANY. At any time prior to the Closing
Date, the Company shall have the right, in its sole discretion, to terminate
this Agreement without any liability or adverse affect or without it being
considered a breach of this Agreement, if the Company can substantiate by
reasonable proof that applicable governmental authorities may prevent the IPO or
substantially delay the IPO as a result of the transactions contemplated by this
Agreement.

            9.2. AUTOMATIC TERMINATION. This Agreement shall terminate with no
further action by any party hereto and the parties hereto shall cease to have
any rights or obligations hereunder on the date that is six (6) months from the
signing of this Agreement in the event that the closing of the IPO of the
Ordinary Shares has not occurred by such date.

                                      -7-
<Page>

      10.   MISCELLANEOUS.

            10.1. EXPENSES. The Company and the Purchaser shall each bear their
own expenses incurred on their own behalf with respect to this Agreement and the
transactions contemplated hereby.

            10.2. STAMP DUTY. The Company shall pay the stamp duty due on the
issuance of the Purchased Shares.

            10.3. OTHER ACTS. The Company and the Purchaser will after, as well
as before and upon, the Closing Date, do all acts and things and sign and
execute all documents and deeds required for the purpose of implementing the
terms of this Agreement.

            10.4. ASSIGNMENT. None of the rights of obligations under or
pursuant to this Agreement may be assigned or transferred to by the Purchaser or
the Company to any other person without the written consent of the other party
to this Agreement. In the event that such written consent is received, the
assignee shall agree in writing to be bound by all of the terms hereof and the
assignor shall remain liable for any and all of its obligations hereunder.

            10.5. ENTIRE AGREEMENT. This Agreement, and the documents referred
to herein constitute the entire agreement between the parties hereto pertaining
to the subject matter hereof, and any and all other written or oral agreements
relating to the subject matter hereof existing between the parties hereto are
expressly canceled.

            10.6. ORDINARY SHARE NUMBERS. All ordinary share numbers in this
Agreement shall be adjusted to give effect to the stock combination and
distribution of bonus shares which will take place immediately prior to the
closing of the IPO.

            10.7. PUBLICITY. The timing and text of any public announcement
regarding the existence and terms of this Agreement shall be agreed between the
parties hereto in their sole discretion and, prior to the date on which brokers
or dealers trading in Ordinary Shares are no longer required to deliver a
prospectus with respect to the Ordinary Shares, shall require the approval of
the lead underwriter of the IPO; provided, however, that the foregoing shall not
be construed as preventing the Company from disclosing the existence and terms
of this Agreement in the Registration Statement or any public filings thereof or
from including this Agreement as an exhibit to the Registration Statement or any
public filings thereof.

            10.8. AMENDMENTS AND WAIVERS. Any term of this Agreement may be
amended or waived only if the same is in writing and signed by the Company and
the Purchaser.

            10.9. SEVERABILITY. If one or more provisions of this Agreement are
held to be unenforceable under applicable law, such provision shall be excluded
from this Agreement and the balance of the Agreement shall be interpreted as if
such provision were so excluded and shall be enforceable in accordance with its
terms.

                                      -8-
<Page>

            10.10. TITLES AND SUBTITLES. The titles and subtitles used in this
Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement.

            10.11. SUCCESSORS AND ASSIGNS; NO THIRD PARTY RIGHTS. The terms and
conditions of this Agreement shall inure to the benefit of and be binding upon
the respective successors and assigns of the parties. This Agreement shall not
be construed as granting rights to any third party. In this Agreement, third
party shall mean any person that is not a party to this Agreement.

            10.12. NOTICES. Any and all notices, requests, demands and other
communications required or otherwise contemplated to be made under this
Agreement shall be in writing and in English and shall be provided by one or
more of the following means and shall be deemed to have been duly given: (i) if
delivered personally, when received; (ii) if transmitted by facsimile, on the
date of transmission with receipt of a transmittal confirmation; or (iii) if by
international courier service, on the fourth (4th) business day following the
date of receipt of deposit with such courier service, or such earlier delivery
date as may be confirmed in writing to the sender by such courier service. All
such notices, requests, demands and other communications shall be sent to the
address or facsimile number as set forth on the signature page hereto.

            10.13. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

      11.   RESOLUTION OF DISPUTES.

            11.1. GOVERNING LAW. This Agreement, the rights and obligations of
the parties hereto, and any claims or disputes relating thereto, shall be
governed by and construed in accordance with the laws of the State of New York
excluding the conflict of laws provisions thereof.

            11.2. ARBITRATION. All disputes arising out of or in connection with
this Agreement and any other agreement resulting herefrom, including any
question regarding its existence, validity or termination, shall be finally
settled under the International Arbitration Rules of the American Arbitration
Association by three (3) arbitrators in accordance with the said rules. The seat
of arbitration shall be New York, New York. The procedural law of the State of
New York shall apply where the rules are silent. The language to be used in the
arbitration proceeding shall be English. The Company and the Purchaser shall
each nominate one arbitrator for confirmation by the competent authority under
the applicable rules (the "APPOINTING AUTHORITY") within thirty (30) days of the
commencement of the arbitration. Both arbitrators shall agree on the third
arbitrator within thirty (30) days. Should the two arbitrators fail, within the
above time-limit, to reach agreement on the third arbitrator, he or she shall be
appointed by the Appointing Authority.

                            [Signature pages follow.]

                                      -9-
<Page>

      The parties have executed this Ordinary Share Purchase Agreement as of the
date first written above.

                                          COMPANY:

                                          GIVEN IMAGING LTD.

                                          By:  /s/ Zvi Ben David
                                              -------------------------------
                                              Name: Zvi Ben David
                                              Title: Vice President and Chief
                                              Financial Officer

                                          Address: 2 Ha'Carmel Street
                                                   New Industrial Park
                                                   P.O. Box 258
                                                   Yoqneam 20692, Israel
                                                   Attention:   Gavriel Meron

                                          Tel:     011 (972-4) 909-7789
                                          Fax:     011 (972-4) 959-2466

                                          With a copy to:

                                          Address: White & Case LLP
                                                   601 Thirteenth Street, N.W.
                                                   Suite 600 South
                                                   Washington, D.C. 20005
                                                   Attention: Ned Neaher

                                          Tel:     (212) 626-3600
                                          Fax:     (202) 639-9355

                                          With a further copy to:

                                          Address: Zellermayer, Pelossof & Co.
                                                   Rubenstein House
                                                   20 Lincoln Street
                                                   Tel Aviv 67134, Israel
                                                   Attention: Yoram Ashery

                                          Tel:     011 (972-3) 625-5555
                                          Fax:     011 (972-3) 625-5500

                         SIGNATURE PAGE TO GIVEN IMAGING
                        ORDINARY SHARE PURCHASE AGREEMENT

<Page>

                                          PURCHASER:

                                          PW JUNIPER CROSSOVER FUND, LLC

                                          By: PW Juniper Management, LLC, its
                                          managing member

                                          By:  /s/ Eric Bittelman
                                              -------------------------------
                                              Name: Eric Bittelman
                                              Title:

                                          Address: 767 Third Avenue
                                                   New York, NY 10017
                                                   Attention: Jonathan
                                                              Silverstein

                                          Tel:     (212) 739-6400
                                          Fax:     (212) 739-6444

                                          With a copy to:

                                          Address: Wollmuth Maher & Deutsch LLP
                                                   500 Fifth Avenue, 12th Floor
                                                   New York, NY 10110
                                                   Attention: Mason H. Drake

                                          Tel:     (212) 382-3300
                                          Fax:     (212) 382-0050

                         SIGNATURE PAGE TO GIVEN IMAGING
                        ORDINARY SHARE PURCHASE AGREEMENT

<Page>

                                    EXHIBITS

            Exhibit A - Form of Officer's Certificate

            Exhibit B - Form of Lock-Up Letter Agreement

<Page>

                                    EXHIBIT A

                          FORM OF OFFICER'S CERTIFICATE

      I, Zvi Ben David, hereby certify that I am the Vice President and Chief
Financial Officer of Given Imaging Ltd. (the "COMPANY"), and hereby certify
pursuant to Section 2.2(a) of the Ordinary Share Purchase Agreement, dated
August 23, 2001, by and between the Company and PW Juniper Crossover Fund, LLC
(the "AGREEMENT"), as follows:

      1.    The Per Share Purchase Price (as defined in the Agreement) is $____.

      2.    The number of the Purchase Shares (as defined in the Agreement)
is __________.

      IN WITNESS WHEREOF, the undersigned has executed this Certificate this ___
day of ____________, 2001.

                                          ------------------------
                                          Name:  Zvi Ben David
                                          Title: Vice President and Chief
                                                 Financial Officer

<Page>

                                    EXHIBIT B

                        FORM OF LOCK-UP LETTER AGREEMENT

LEHMAN BROTHERS INC.
CREDIT SUISSE FIRST
  BOSTON CORPORATION
ROBERTSON STEPHENS INC.
As Representatives of the
  several underwriters
c/o LEHMAN BROTHERS INC.
Three World Financial Center
New York, NY   10285

Dear Sirs:

      The undersigned understands that you and certain other firms propose to
enter into an Underwriting Agreement (the "Underwriting Agreement") providing
for the purchase by you and such other firms (the "Underwriters") of ordinary
shares, having a nominal value of NIS 0.01 per share (the "Ordinary Shares"), of
Given Imaging Ltd. (the "Company") and that the Underwriters propose to reoffer
the Shares to the public (the "Offering").

      In consideration of the execution of the Underwriting Agreement by the
Underwriters, and for other good and valuable consideration, the undersigned
hereby irrevocably agrees that, without the prior written consent of Lehman
Brothers Inc., on behalf of the Underwriters, the undersigned will not, directly
or indirectly, (1) offer for sale, sell, pledge, or otherwise dispose of (or
enter into any transaction or device that is designed to, or could be expected
to, result in the disposition by any person at any time in the future of) any
Ordinary Shares (including, without limitation, Ordinary Shares that may be
deemed to be beneficially owned by the undersigned in accordance with the rules
and regulations of the Securities and Exchange Commission and Ordinary Shares
that may be issued upon exercise of any option or warrant) or securities
convertible into or exchangeable for Ordinary Shares (other than the Shares)
owned by the undersigned on the date of execution of this Lock-Up Letter
Agreement or on the date of the completion of the Offering, or (2) enter into
any swap or other derivatives transaction that transfers to another, in whole or
in part, any of the economic benefits or risks of ownership of such Ordinary
Shares, whether any such transaction described in clause (1) or (2) above is to
be settled by delivery of Ordinary Shares or other securities, in cash or
otherwise, for a period of 180 days after the date of the final prospectus
relating to the Offering.

      In furtherance of the foregoing, the Company and its Transfer Agent are
hereby authorized to decline to make any transfer of securities if such transfer
would constitute a violation or breach of this Lock-Up Letter Agreement.

<Page>

      It is understood that, if the Company notifies you that it does not intend
to proceed with the Offering, if the Underwriting Agreement does not become
effective, or if the Underwriting Agreement (other than the provisions thereof
which survive termination) shall terminate or be terminated prior to payment for
and delivery of the Shares, we will be released from our obligations under this
Lock-Up Letter Agreement.

      The undersigned understands that the Company and the Underwriters will
rely on this Lock-Up Letter Agreement in proceeding with the Offering.

      Whether or not the Offering actually occurs depends on a number of
factors, including market conditions. Any Offering will only be made pursuant to
the Underwriting Agreement, the terms of which are subject to negotiation
between the Company and the Underwriters.

      The undersigned hereby represents and warrants that the undersigned has
full power and authority to enter into this Lock-Up Letter Agreement and that,
upon request, the undersigned will execute any additional documents necessary in
connection with the enforcement hereof. Any obligations of the undersigned shall
be binding upon the heirs, personal representatives, successors and assigns of
the undersigned.

                                          Very truly yours,

         IF AN INDIVIDUAL:
                                          ------------------------------
                                          Name:

         IF ON BEHALF OF A CORPORATION,
         PARTNERSHIP, LIMITED LIABILITY
         COMPANY, TRUST OR OTHER ENTITY:
                                          ------------------------------
                                                [Name of entity]

                                          By:
                                              --------------------------
                                          Name:
                                          Title:
Dated:  _______________

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