Document:

Exhibit 4.1

 

Execution Version

 

ASSET PURCHASE AGREEMENT

by and among

MDWEB, LLC (doing business as MDW, LLC)

and

Nano-X Imaging, INC.

and

Nano-X Imaging Ltd.

 

Dated as of October 21, 2021

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	1.	Definitions.	1
	 	1.1.	Certain Matters of Construction	1
	 	1.2.	Certain Definitions	2
	2.	The Transaction	12
	 	2.1.	Purchase and Sale of the Assets	12
	 	2.2.	Excluded Assets	12
	 	2.3.	Purchase Price	12
	 	2.4.	Excluded Liabilities	13
	 	2.5.	The Closing	14
	 	2.6.	Closing Deliveries and Payments	14
	 	2.7.	Purchase Price Adjustment	15
	 	2.8.	Earn Out	17
	 	2.9.	Tax Treatment; Purchase Price Allocation	19
	3.	Representations and Warranties of the Company.	19
	 	3.1.	Power and Authorization	19
	 	3.2.	Organization	19
	 	3.3.	No Violation or Approval; Consents	20
	 	3.4.	Assets	20
	 	3.5.	Financial Statements, Etc	21
	 	3.6.	Ordinary Course of Business; No Material Adverse Effect	21
	 	3.7.	Taxes	21
	 	3.8.	Operations in Conformity with Laws	23
	 	3.9.	Intellectual Property	24
	 	3.10.	Assigned Contracts	27
	 	3.11.	Transactions with Affiliates	27
	 	3.12.	Litigation	28
	 	3.13.	Brokers	28
	 	3.14.	Customers and Suppliers	28
	 	3.15.	Regulatory Matters	28
	 	3.16.	Data Privacy	29
	 	3.17.	Stock Consideration	29

 

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TABLE OF CONTENTS

(continued)

 

	 	 	Page
	 	 	 
	4.	Representations and Warranties of the Buyer.	30
	 	4.1.	Organization	30
	 	4.2.	Authorization	31
	 	4.3.	No Violation or Approval; Consents	31
	 	4.4.	Valid Issuance of Stock Consideration	31
	 	4.5.	Litigation	31
	 	4.6.	Brokers	32
	5.	Conditions Precedent to the Obligations of the Buyer.	32
	 	5.1.	Representations and Warranties	32
	 	5.2.	Performance of Obligations	33
	 	5.3.	Compliance Certificate	33
	 	5.4.	Injunctions	33
	 	5.5.	Escrow Agreement	33
	 	5.6.	Personnel	33
	 	5.7.	Secretary’s Certificate	33
	 	5.8.	Consents	33
	 	5.9.	Non-competition Agreements	33
	 	5.10.	USARAD Stock Purchase Agreement	33
	 	5.11.	Assets	33
	6.	Conditions Precedent to Obligations of the Company	34
	 	6.1.	Representations and Warranties	34
	 	6.2.	Performance of Obligations	34
	 	6.3.	Compliance Certificate	34
	 	6.4.	Injunctions	34
	 	6.5.	Escrow Agreement	34
	7.	Covenants of the Parties	35
	 	7.1.	Conduct of Business Prior to Closing	35
	 	7.2.	Confidentiality; Announcements	37
	 	7.3.	No Solicitation	38
	 	7.4.	Preparation for Closing	39

 

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TABLE OF CONTENTS

(continued)

 

	 	 	 	Page
	 	 	 	 
	 	7.5.	Tax Matters	39
	 	7.6.	Notification	39
	 	7.7.	Share Lock-Up and Sale Restrictions	40
	 	7.8.	Further Assurances	40
	8.	Indemnification	41
	 	8.1.	Survival	41
	 	8.2.	Indemnity by the Company	41
	 	8.3.	Indemnity by the Buyer	42
	 	8.4.	Notification of Certain Claims	43
	 	8.5.	Calculation of Losses	44
	 	8.6.	Matters Involving Third Parties	44
	 	8.7.	Materiality	46
	 	8.8.	No Contribution	46
	 	8.9.	Investigation	46
	 	8.10.	Escrow	46
	 	8.11.	Tax Treatment	47
	 	8.12.	Acknowledgement by the Buyer	47
	 	8.13.	Manner of Payment	47
	 	8.14.	Payment Process	47
	9.	Termination.	48
	 	9.1.	Termination	47
	 	9.2.	Effect of Termination	49
	10.	Miscellaneous.	50
	 	10.1.	Notices	50
	 	10.2.	Expenses of Transaction	50
	 	10.3.	Entire Agreement	50
	 	10.4.	Severability	50
	 	10.5.	Amendment	50
	 	10.6.	Parties in Interest	51
	 	10.7.	Assignment	51
	 	10.8.	Governing Law	51
	 	10.9.	Consent to Jurisdiction	51
	 	10.10.	Waiver of Jury Trial	52
	 	10.11.	Reliance	52
	 	10.12.	Specific Enforcement	52
	 	10.13.	No Waiver	52
	 	10.14.	Negotiation of Agreement	53
	 	10.15.	Disclosure Schedules	53
	 	10.16.	Third Party Beneficiaries	53
	 	10.17.	Headings	53
	 	10.18.	Counterparts; Electronic Signature	53

 

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Schedules

 

	Schedule 2.1A – Assets
	Schedule 2.1B – Assumed Liabilities
	Schedule 2.8.2 – Earn Out Milestones
	Disclosure Schedules

 

EXHIBITS

 

	Exhibit
A   Form of Escrow Agreement
	Exhibit
B   Form of Non-Competition Agreement

 

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ASSET PURCHASE
AGREEMENT

 

This Asset Purchase Agreement
(this “Agreement”) is made as of October 21, 2021, by and among MDWEB, LLC (doing business as MDW, LLC), a New York
limited liability company (the “Company”), NANO-X IMAGING, INC. (the “Buyer”) and Nano-X Imaging
Ltd., a company organized under the laws of the State of Israel (the “Parent”).

 

Whereas,
the Company owns and desires to sell certain assets, and the Buyer desires to acquire all of the Assets, all on the terms and subject
to the conditions set forth in this Agreement.

 

Whereas,
the Buyer is a wholly-owned subsidiary of the Parent.

 

Whereas,
the condition and inducement to the Buyer’s willingness to enter into this Agreement, the individuals listed on Schedule ‎5.9
are, concurrently with the execution of this Agreement, executing and delivering Non-Competition Agreements in the form of Exhibit B (the
“Non-Competition Agreements”), that will each become effective as of the Closing.

 

WHEREAS, for U.S. federal
income Tax (as defined below) purposes, the parties intend that the consummation of the transactions contemplated hereby qualifies as
a “reorganization” within the meaning of Section 368(a) of the Code (as defined below), and that this Agreement be, and is
hereby, adopted as a plan of reorganization within the meaning of Section 368(a) of the Code.

 

Now,
therefore, in consideration of these premises, the covenants set forth herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1. Definitions.

 

1.1. Certain
Matters of Construction. For purposes of this Agreement, except as specified otherwise or the context otherwise requires, the words
“hereof”, “herein”, “hereunder” and words of similar import will refer to this Agreement as a whole
and not to any particular Section or provision of this Agreement, and reference to a particular Section of this Agreement will include
all subsections thereof. The word “party” will refer to the Company, the Buyer or the Parent. The word “including”
means including without limitation. The word “will” has the same meaning as the word “shall”. Definitions will
be equally applicable to both the singular and plural forms of the terms defined, and references to the masculine, feminine or neuter
gender will include each other gender. All references in this Agreement to any Section, Exhibit or Schedule will, unless otherwise specified,
be deemed to be a reference to a Section, Exhibit or Schedule of or to this Agreement, in each case as such may be amended in accordance
herewith, all of which are made a part of this Agreement. All references in this Agreement to monetary amounts will, unless otherwise
specified, be to United States dollars. Any Legal Requirement defined or referred to herein or in any agreement or instrument that is
referred to herein shall include any modification, amendment or re-enactment thereof, and any Legal Requirement substituted therefore,
in each case as of the time of inquiry, representation or covenant and all rules, regulations and statutory instruments issued or related
to such Legal Requirement. Any reference to a Governmental Authority shall be deemed also to refer to any successor thereto unless the
context requires otherwise. A reference to any agreement (including this Agreement) or Contract, is, unless otherwise specified, to the
agreement or Contract as amended, modified, supplemented or replaced at the time of inquiry, representation or covenant. Although the
same or similar subject matters may be addressed in different provisions of this Agreement, the parties intend that, except as reasonably
apparent on the face of the Agreement or as expressly provided in this Agreement, each such provision will be read separately, be given
independent significance and not be construed as limiting any other provision of this Agreement (whether or not more general or more specific
in scope, substance or content). References to a Person are also to its successors and permitted assigns.

 

    -1-

     

    

 

1.2. Certain
Definitions. For purposes of this Agreement, the following terms will have the following meanings:

 

“Acquisition
Transaction” means, other than the Contemplated Transactions, any Person’s (other than Buyer’s) offer, proposal
or inquiry relating to, or any indication of interest in: (a) any merger, consolidation or other form of business combination with
or involving the Company, (b) the sale, license, disposition or acquisition of all or any material portion of the business or assets
of the Company, including the grant of any license to any Intellectual Property of the Company, other than non-exclusive licenses granted
to customers of the Company in the ordinary course of business, (c) the issuance, grant, disposition or acquisition of any membership
interests or other equity participations of the Company (other than the issuance of equity to employees of the Company), or (d) any
other transaction that would be inconsistent with or that would reasonably be likely to have an adverse effect upon any of the Contemplated
Transactions.

 

“Action”
means any criminal, judicial, administrative or arbitral action, audit, charge, claim, complaint, demand, grievance, hearing, known inquiry
or investigation, litigation, mediation, proceeding, citation, summons, subpoena or suit, whether civil, criminal, administrative, judicial
or investigative, whether public or private, commenced, brought, conducted or heard by or before, or otherwise involving any Governmental
Authority.

 

“Affiliate”
means, as to any Person, any other Person controlling, controlled by or under common control with such Person. For the purposes of this
definition, “controlling”, “controlled” and “control” mean the possession, directly or indirectly,
of the power to direct the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

 

“Agreement”
is defined in the Preamble.

 

“Anti-bribery
Laws” is defined in Section ‎3.8.2.

 

“Assets”
is defined in Section ‎2.1.

 

“Assigned
Contract” is defined in Section ‎3.10.

 

“Assumed
Liabilities” is defined in in Section ‎2.3.

 

“Balance
Sheet Time” means 11:59 p.m. New York time on the Business Day immediately preceding the Closing Date.

 

“Basis”
means any past or present fact, situation, circumstance, status, condition, activity, practice, plan, occurrence, event, incident, action,
failure to act or transaction that could form the basis for any specific consequence.

 

“Business”
means the businesses conducted by the Company and its direct and indirect Subsidiaries as of the date hereof.

 

    -2-

     

    

 

“Business
Day” means any day that is not a Saturday, a Sunday or other day on which banks are required or authorized by Legal Requirement
to be closed in New York, New York.

 

“Buyer”
is defined in the Preamble.

 

“Buyer
Failure to Close” is defined in Section ‎‎9.1.6.

 

“Buyer
Fundamental Representations” means the representations and warranties set forth in Sections ‎4.1 (Organization),
‎4.2 (Authorization) and ‎4.6 (Brokers).

 

“Buyer
Indemnified Parties” is defined in Section ‎8.2.1.

 

“Claim
Dispute Notice” is defined in Section ‎8.4.4.

 

“Claim
Notice” is defined in Section ‎‎‎8.4.1.

 

“Closing”
is defined in Section ‎2.5.

 

“Closing
Stock Consideration” is defined in Section 2.3.

 

“Closing
Date” is defined in Section ‎2.5.

 

“Closing
Statement” is defined in Section ‎2.7.2.

 

“Code”
means the Internal Revenue Code of 1986, as amended, and the applicable Treasury regulations issued thereunder.

 

“Company”
is defined in the Preamble.

 

“Company
Authorizations” is defined in Section ‎3.8.6.

 

“Company
Benefit Plans” means all Employee Benefit Plans maintained or contributed to by the Company or under which the Company
has or is reasonably likely to have any obligations (other than obligations to make current wage or salary payments or sales commissions
terminable on notice of 30 days or less) or liabilities, actual or contingent, in respect of, or which otherwise cover, any of the current
or former officers, employees or independent contractors of the Company who provide services in respect of the Business or their dependents
or beneficiaries.

 

“Company
Failure to Close” is defined in Section ‎9.1.7.

 

“Company
Fundamental Representations” means the representations and warranties set forth in Sections ‎3.1 (Power and Authorization),
‎3.2 (Organization), 3.4.2 (Assets), 3.7 (Taxes) and ‎3.13 (Brokers).

 

“Company
Indemnified Parties” is defined in Section ‎8.3.

 

“Company
Intellectual Property” shall mean the Intellectual Property owned by or licensed to the Company.

 

“Company’s
Knowledge” means the actual knowledge of Michael Averbach, and Sergey Fradkov, in each case after reasonable internal inquiry.

 

    -3-

     

    

 

“Company
Registered IP” is defined in Section ‎‎‎3.9.1.

 

“Contemplated
Transactions” means the transactions contemplated by this Agreement and the Escrow Agreement that are anticipated to be consummated
at the Closing.

 

“Continuing
Business” means the business of the Company and its Subsidiaries existing immediately prior to the Closing, as such business
is operated by the Continuing Business Company following the Closing Date.

 

“Continuing
Business Company” means the Buyer, any successor to the Buyer, or any Person into which the Buyer may be merged, or which
acquires all or substantially all of the assets or stock of the Buyer, carrying out the Continuing Business following the Closing.

 

“Contract”
means any legally binding contract, agreement, lease, license, sublicense, option, understanding, covenant-not-to-sue, promise, undertaking
or other binding arrangement, purchase order, instrument, note or other document or instrument, whether oral or written.

 

“Customer
Deliverables” shall mean (A) the products that the Company or any of its Subsidiaries currently produces, markets, sells or
licenses and (B) the services that the Company or any of its Subsidiaries currently provides.

 

“Disclosure
Schedules” means the various disclosure schedules to this Agreement that are being delivered by on or behalf of the Company
on the date hereof in connection with the representations and warranties in Section ‎3.

 

“Dispute
Notice” is defined in Section ‎2.7.3.

 

“Dispute
Submission Notice” is defined in Section ‎2.7.4.

 

“Disputed
Item” is defined in Section ‎2.7.3.

 

“Earn Out”
is defined in Section ‎2.3.

 

“Earn Out
Amount” is defined in Section ‎2.8.2(a).

 

    -4-

     

    

 

“Earn Out
Dispute Notice” is defined in Section ‎2.8.4(a).

 

“Earn Out
Dispute Submission Notice” is defined in Section ‎2.8.4(d).

 

“Earn Out
Maximum Amount” is defined in Section ‎2.3.

 

“Earn Out
Payment Date” is defined in Section ‎2.8.2(c).

 

“Earn Out
Period” means the First Earn Out Period, the Second Earn Out Period, and the Third Earn Out Period.

 

“Earn Out
Statement” is defined in Section 2.8.1.

 

“Escrow
Account” is defined in Section ‎2.6.1(b).

 

“Escrow
Agreement” means an escrow agreement in substantially the form of Exhibit A, to be entered into on or prior to the Closing Date
by the Buyer, the Company, the Parent, and the Escrow Agent.

 

“Escrow
Amount” means Closing Stock Consideration valued at $225,000, and calculated based on the volume weighted average closing share
price of Parent ordinary shares on the Nasdaq Stock Market over the 30 trading days prior to the Closing Date.

 

“Escrow
Funds” means, as of any date of determination, the excess (if any) of the Escrow Amount (including accrued interest or earnings
thereon) over the sum of all distributions and other payments to any Person from the Escrow Account paid pursuant to the terms of the
Escrow Agreement on or prior to such date of determination.

 

“Escrow
Termination Date” is defined in Section ‎8.1.

 

“Estimated
Closing Statement” is defined in Section ‎2.7.1.

 

“Estimated
Working Capital Amount” is defined in Section ‎2.7.5(b).

 

“Excluded
Assets” is defined in Section ‎2.3.

 

“Excluded
Liabilities” is defined in in Section ‎2.4.

 

“Expiration
Date” is defined in Section ‎9.1.4.

 

“FDA”
is defined in Section ‎‎‎3.15.1.

 

“FDA Application
Integrity Policy” is defined in Section ‎‎‎3.15.2.

 

“Final
Working Capital Amount” is defined in Section ‎2.7.5.

 

    -5-

     

    

 

“Financial
Controls” is defined in Section ‎3.5.2.

 

“Financial
Statements” is defined in Section ‎3.5.1.

 

“First
Earn Out Period” means the three (3) consecutive calendar months immediately following the Closing Date.

 

“GAAP”
means United States generally accepted accounting principles, as in effect from time to time.

 

“Governmental
Authority” means any national, supranational, foreign, provincial, federal, state, municipal or local government, including
any political subdivision thereof, or governmental, regulatory or administrative authority, agency, body, branch, bureau, instrumentality
or commission, and any department, court, tribunal or judicial body, agency or official of any of the foregoing.

 

“Government
Contract” means any Contract, prime contract, subcontract, teaming agreement or arrangement, joint venture, basic ordering agreement,
blanket purchase agreement, letter agreement, grant, cooperative agreement, purchase order, delivery order, task order, change order or
other commitment or funding vehicle between the Company or any of its Subsidiaries and (a) any Governmental Authority, (b) any
prime contractor to a Governmental Authority or (c) any subcontractor (of any tier) in connection with or with respect to any Contract
described in clause (a) or (b), and any modification of any of the foregoing.

 

“Governmental
Order” means any ruling, award, decision, injunction, judgment, determination, assessment, agreement, order, decree, writ or
other requirement entered, issued or made by any Governmental Authority.

 

“Income
Tax” means any Tax measured in whole or in part by income or gains (or similar Tax imposed in lieu thereof).

 

“Indebtedness”
means with respect to any Person, and without duplication, all outstanding obligations of such Person on a consolidated basis (a) in
respect of indebtedness for borrowed money (including all accrued interest thereon, and any prepayment, breakage or similar charges payable
in connection with the discharge of such indebtedness), (b) evidenced by notes, debentures or similar instruments, (c) in respect
of any earn out or other deferred purchase price for the acquisition by such Person of any business, property or other Person, but excluding
any ordinary trade accounts payable or accruals incurred in the ordinary course of business which are captured in the accounts payable
and/or accrued expenses of the Company, (d) in respect of letters of credit, solely to the extent drawn upon by third parties, (e) as
lessee under leases that would be required to be recorded as capital leases in accordance with GAAP and (f) with respect to guarantees
of obligations of the types described in clauses (a) through (e) above of any other Person.

 

    -6-

     

    

 

“Indemnified
Party” means with respect to any claim for indemnification pursuant to Section ‎8, each Buyer Indemnified Party
or Company Indemnified Party asserting such claim (or on whose behalf such claim is asserted) under Section ‎8.2 or ‎8.3,
as the case may be.

 

“Indemnifying
Party” means, with respect to any claim for indemnification pursuant to Section ‎8, the party or parties against
whom such claim has been asserted.

 

“Independent
Referee” means Yoel Beniluz, PhD; provided that, if Yoel Beniluz, PhD is unable or unwilling to serve as Independent
Referee, and the Buyer and the Company are unable to agree on another independent and nationally recognized firm with expertise in disputes
of the type contemplated by Section ‎2.7 within fifteen (15) Business Days of receiving notice that Yoel Beniluz, PhD
will not serve as Independent Referee, the Buyer and the Company shall each nominate such a firm, and the two firms so nominated shall
nominate a third such firm, with such third firm to serve as the Independent Referee.

 

“Insurance
Policies” is defined in Section ‎8.5.

 

“Insurance
Proceeds” is defined in Section ‎8.5.

 

“Intellectual
Property” means all: (A) granted patents, pending patent applications, and all related continuation, continuation-in-part, divisional,
reissue and re-examinations thereof, utility models, statutory invention registrations and design patents; (B) trademarks, service marks,
trade dress, Internet domain names, logos, trade names and corporate names and registrations and applications for registration thereof;
(C) copyrights and registrations and applications for registration thereof; (D) computer software, data and documentation; (E) inventions,
trade secrets and confidential business information, whether patentable or non-patentable and whether or not reduced to practice, know-how,
manufacturing and product processes and techniques, research and development information, unpublished copyrightable works, financial,
marketing and business data, pricing and cost information, business and marketing plans and customer and supplier lists and information;
(F) other proprietary rights relating to any of the foregoing (including remedies against infringements thereof and rights of protection
of interest therein under the laws of all jurisdictions); and (G) copies and tangible embodiments thereof.

 

“Interim
Financial Statements” is defined in Section ‎3.5.1.

 

“Internal
Systems” shall mean any hardware, software, data, equipment, technology or internal systems used by or on behalf of the Company
or its Subsidiaries to produce the Customer Deliverables.

 

“Legal
Requirement” means, with respect to any Person, any national, supranational, federal, state, provincial, municipal or local,
statute, law, ordinance, code, rule, resolution, constitution, notice, administrative interpretation, regulation, Governmental Order ,
regulatory requirement, interpretation, stipulation, determination, or regulation issued, enacted, implemented or otherwise put into law
by or under the authority of a Governmental Authority and applicable to such Person or any of its Affiliates or any of their respective
properties, assets, officers, directors, general partners, members, managers, trustees, employees, consultants or agents (in connection
with such officer’s, director’s, general partner’s, member’s, manager’s, employee’s, consultant’s
or agent’s activities on behalf of such Person or any of its Affiliates).

 

    -7-

     

    

 

“Liabilities”
means any and all liabilities, Indebtedness, claims, commitments, deficiencies and obligations of any kind, whether accrued or fixed,
absolute or contingent, matured or unmatured, determined or undeterminable, on- or off-balance sheet or required to be recorded on a balance
sheet prepared in accordance with GAAP, including those arising under any Legal Requirement, Action or Government Order and those arising
under any Contract.

 

“Liability
Claim” means an indemnification claim by or on behalf of an Indemnified Party for Losses that it believes are or may be recoverable
pursuant to Section ‎‎ ‎8, other than in respect of a Third-Party Claim.

 

“Lien”
means any lien, pledge, hypothecation, charge, mortgage, security interest, encumbrance, claim, option, right of first refusal, preemptive
right, community property interest, conditional or installment sale agreement, encumbrance, charges or other claims of third parties of
any kind, or restriction of any nature (including any restriction on the voting of any security, any restriction on the transfer of any
security or other asset, any restriction on the receipt of any income derived from any asset, any restriction on the use of any asset
and any restriction on the possession, exercise or transfer of any other attribute of ownership of any asset).

 

“Losses”
means the amount of any losses, damages, awards, fines, penalties, expenses or fees (including reasonable fees and expenses of counsel),
costs (including costs of investigation, arbitration and court costs), deficiencies, claims, demands, Liabilities, judgments, or Taxes
of any nature, whether or not involving any Action, including any costs of defending any Actions or enforcing a Buyer Indemnified Party’s
or Company Indemnified Party’s rights under this Agreement.

 

“Material
Adverse Effect” means any effect, change, event, development or circumstance that, considered together with all other effects,
changes, events, developments or circumstances is materially adverse to the Business, Assets, Liabilities, financial condition or results
of operations of the Company and its Subsidiaries, taken as a whole; provided, however, that any such change, effect, event,
development or circumstance caused by or resulting from any of the following shall not be considered, and shall not be taken into account
in determining the existence of, a “Material Adverse Effect”: (i) the announcement, pendency or consummation of the Contemplated
Transactions, including the impact of any of the foregoing on relationships with customers, suppliers, sales representatives, or employees,
(ii) conditions affecting the global economy or the financial, credit, commodities or capital markets as a whole, or generally affecting
the industries in which the Company conducts its business, (iii) any change in financial, banking, or securities markets (including
any disruption thereof and any decline in the price of any security or any market index), (iv) any change in, adoption of, or change
in the interpretation of any applicable Legal Requirement or GAAP, (v) any national or international political or social conditions,
including the engagement or continuation by the United States in hostilities or the escalation thereof, whether or not pursuant to the
declaration of a national emergency or war, or the occurrence or the escalation of any military or terrorist attack upon the United States,
or any of its territories, possessions, or diplomatic or consular offices or upon any military installation, equipment or personnel of
the United States, (vi) pandemics, epidemics, disease outbreaks, earthquakes, hurricanes, tornados, floods or other natural disasters
or acts of God, (vii) the failure by the Company to meet any revenue or earnings projections, forecasts or predictions (provided,
that clause (vii) shall not prevent a determination that any effect or change underlying such failure has resulted in a Material Adverse
Effect, to the extent such change or effect is not otherwise excluded from this definition of Material Adverse Effect), (viii) any
action taken by, or with the written consent of, the Buyer or any of its Affiliates with respect to the Contemplated Transactions or with
respect to the Company or (ix) any matter of which Buyer is aware on the date hereof; except, in the case of the foregoing clauses (ii),
(iii), (v) and (vi), to the extent such changes or effects would have a disproportionate effect on the Company compared to other Persons
in the industries and geographic regions in which the Company conducts its business.

 

    -8-

     

    

 

“Minor
Claims” is defined in Section ‎8.2.2(a)

 

“Non-Competition
Agreements” is defined in the Recitals.

 

“Open Source
Materials” shall mean all software or other material that is distributed as “free software”, “open source
software” or under a similar licensing or distribution model, including without limitation the GNU General Public License (GPL),
GNU Lesser General Public License (LGPL), Mozilla Public License (MPL), BSD Licenses, the Artistic License, the Netscape Public License,
the Sun Community Source License (SCSL), the Sun Industry Standards License (SISL) and the Apache License.

 

“Organizational
Documents” means, with respect to any Person (other than an individual), the certificate or articles of incorporation, organization
or formation of such Person and any limited liability company, operating or partnership agreement, by-laws or similar documents or agreements
relating to the legal organization of such Person.

 

“Parties”
is defined in Section ‎1.1.

 

“Permits”
means all permits, certificates, licenses, franchises, consents, approvals and authorizations from Governmental Authorities that are necessary
to the conduct of the Company’s business or operations as presently conducted.

 

“Permitted
Liens” means (a) Liens for Taxes, not yet due and payable or the amount or validity of which is being contested in good
faith, and for which adequate reserves have been established on the Financial Statements, (b) landlords’, warehousepersons’,
mechanics’, materialmens’ or carriers’ Liens to secure claims for labor, material or supplies and other similar Liens,
(c) Liens incurred or deposits or pledges made in connection with, or to secure payment of, workers’ compensation, unemployment
insurance, old age pension programs mandated under applicable Legal Requirements or other social security regulations, (d) zoning,
building, entitlement and other land use regulations or restrictions, (e) the interests of the lessors and sublessors of any leased
properties, (f) easements, rights of way and other imperfections of title or encumbrances that do not materially interfere with the
present use of the property related thereto, (g) restrictions on the ownership or transfer of securities arising under applicable
Legal Requirements, (h) Liens disclosed on the Interim Financial Statements or in the notes thereto or securing liabilities reflected
on the Interim Financial Statements, or (i) the lien on all of the Company’s tangible and intangible personal property in favor
of the SBA.

 

    -9-

     

    

 

“Person”
means any natural person or any corporation, partnership, limited liability company, other legal entity or Governmental Authority.

 

“Personal
Information” is defined in Section ‎3.16.

 

“Post-Closing
Reduction Amount” is defined in Section ‎2.7.5(a).

 

“Proprietary
Information” means any information related to the Company, the Buyer or the Parent, including any information related to their
respective business, organization, financial situation, operations, purchasing and sales activities, Intellectual Property, source codes,
information relating to services, operating processes, procedures, price lists, customer lists, technology, designs, and specifications,
or other proprietary information of the business of the Company, the Buyer or the Parent, this Agreement, the Contemplated Transactions,
and the existence of this Agreement and the Contemplated Transactions.

 

“Purchase
Price” is defined in Section ‎2.3.

 

“Records”
means all files, documents, ledgers, papers, books and records and similar information (whether in paper, electronic or other tangible
or intangible form) of the Company that are used or held for use by Company in, or necessary for the conduct of, the Business, including
all technical information, operating and production records, service records, service protocols, documentation of service methodologies,
quality control records, blueprints, drawings, technical plans, research and development notebooks and files, customer data, mailing lists,
warranty information, product testing reports, manuals, engineering and scientific data, catalogs, advertising and other marketing materials,
brochures, sales and promotional literature, standard forms of documents, business plans, budgets, price lists, customer lists and lists
of suppliers.

 

“Reference
Balance Sheet” is defined in Section ‎3.5.1.

 

“Reference
Balance Sheet Date” is defined in Section ‎3.5.1.

 

“Representative”
means, with respect to any Person, any director, partner, manager, officer, employee, or Controlling Person of such Person and any agent,
consultant, legal, accounting, financial or other advisor or other representative authorized by such Person to represent or act on behalf
of such Person.

 

“SBA”
means The Small Business Administration, an Agency of the U.S. Government.

 

“Schedules
Notice” is defined in Section ‎7.6.

 

“Second
Earn Out Period” means the twelve (12) consecutive calendar months immediately following the Closing Date.

 

    -10-

     

    

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Stock
Consideration” means Closing Stock Consideration and Earn Out.

 

“Subsidiary”
of any Person means another Person, of which at least a majority of the securities or stock having by their terms ordinary voting power
to elect a majority of the board of directors, other Persons performing similar functions, or the right to appoint or elect a general
partner, is owned or controlled directly or indirectly by such first Person.

 

“Tax”
means (i) any United States federal, state or local, or any foreign, income, franchise, profits, gross receipts, license, ad valorem,
net worth, value added, sales, use, real or personal property, payroll, withholding, employment, social security, excise, environmental,
customs duties, stamp, registration, alternative and add-on minimum tax, special assessment or other governmental and quasi-governmental
charges payable to any Taxing Authority and including all interest, penalties, additional taxes and additions to tax imposed with respect
thereto., whether disputed or not, (ii) Liability for the payment of any amounts of the type described in clause (i) of this sentence
as a result of being a member of an affiliated, consolidated, combined, unitary or aggregate group for any taxable period, (iii) Liability
under any state abandonment or unclaimed property, escheat or similar Legal Requirement, and (iv) Liability for the payment of any amounts
of the type described in clause (i), (ii) or (iii) of this sentence as a result of being a transferee of or successor to any person or
as a result of any express or implied obligation to indemnify or pay any other person.

 

“Tax Returns”
means returns, reports, forms and information statements required to be filed with a Taxing Authority reporting liability for Taxes, including
any schedules or attachments thereto and including any amendment thereof.

 

“Taxing
Authority” means any United States, federal, state, local or any foreign or other governmental agency responsible for the imposition,
assessment or collection of any Tax.

 

“Third
Earn Out Period” means the twenty four (24) consecutive calendar months immediately following the Closing Date.

 

“Third
Party Claim” is defined in Section ‎‎8.6.1.

 

“Transaction
Expenses” means all fees, costs and expenses incurred or otherwise payable by the Company in connection with the negotiation,
documentation and consummation of the Contemplated Transactions, including such fees and expenses of counsel to the Company, counsel to
the Company and any other professional fees and expenses, in each case to the extent incurred but unpaid as of the Closing (and excluding
any fees, costs and expenses paid or payable by the Company).

 

“Transfer”
is defined in Section ‎2.8.5.

 

“Transfer
Taxes” means all transfer, documentary, sales, use, stamp, registration and other such Taxes, and any conveyance fees or recording
charges, in each case incurred by Buyer, the Company or any Affiliate thereof in connection with the transactions contemplated by this
Agreement.

 

    -11-

     

    

 

“Unaudited
Financial Statements” is defined in Section ‎3.5.1.

 

“Worker”
means any current or former officer, director, employee (regular, temporary, part-time or otherwise), consultant, project worker, agent
or individual independent contractor of the Company or any of its Subsidiaries.

 

“Working
Capital” means the sum of all current Assets acquired, minus the sum of all current liabilities assumed.

 

2. The
Transaction.

 

2.1. Purchase
and Sale of the Assets. Upon the terms and subject to the satisfaction of the conditions contained in this Agreement, at the Closing
the Company will sell, convey, assign, transfer and deliver to Buyer, and Buyer will purchase and acquire from the Company, free and clear
of all liens and encumbrances whatsoever, other than Permitted Liens, all of the Company’s right, title and interest in and to the
assets listed on Schedule 2.1A (the “Assets”), and Buyer shall assume, by an undertaking in a form and substance
reasonably satisfactory to the Buyer, as of the Closing Date, only those liabilities specifically listed on Schedule 2.1.B but
only to the extent that such liabilities and obligations thereunder are required to be performed after the Closing Date and do not relate
to any breach, default, or violation by the Company on or prior to the Closing Date (“Assumed Liabilities”) in exchange
for the consideration described in this Agreement. Buyer does not assume any liability of the Company other than those specifically listed
on Schedule 2.1.B.

 

2.2. Excluded
Assets. Anything in Section 2.1 to the contrary notwithstanding, there shall be excluded from the assets, properties, rights
and business to be transferred to Buyer hereunder all of (a) the Company’s bank accounts (but not the funds in the accounts), (b)
the Company’s corporate minute books and membership interests records, (c) books of account and other records of the Company which
are required by law to be kept in the Company’s possession, including but not limited to Tax Returns, (d) all assets and rights
of the Company in and with respect to Company Benefit Plans, (e) all claims, causes of action, payment rights, audit rights, and all other
rights relating to the Excluded Liabilities; (f) contracts or agreements not expressly included as Assigned Contracts; and (g) real estate
(collectively, the “Excluded Assets”).

 

2.3. Purchase
Price. The sole consideration to be paid to the Company for the Assets will be (i) at the Closing such number of ordinary shares
of the Parent to be issued upon Closing valued at $1,500,000, and calculated based on the volume weighted average closing share
price of Parent ordinary shares on the Nasdaq Stock Market over the 30 trading days prior to the Closing (the “Closing
Stock Consideration”) plus (ii) up to such number of ordinary shares of the Parent valued at up to $1,500,000 (the
“Earn Out Maximum Amount”), calculated based on the following: (A) one-half shall be calculated based on the
volume weighted average closing share price of Parent ordinary shares on the Nasdaq Stock Market over the 30 trading days prior to
the Closing and (ii) one-half shall be calculated based on the volume weighted average closing share price of Parent ordinary shares
on the Nasdaq Stock Market over the 30 trading days prior to the relevant Earn Out milestone completion, in the form of an earn out
(the “Earn Out”) payable as described below (subsections (i) and (ii) are together referred to as the
“Purchase Price”).

 

(a) The
Purchase Price shall be subject to adjustment in accordance with the terms of this Agreement, including in accordance with Section ‎2.7.

 

    -12-

     

    

 

2.4. Excluded
Liabilities. Except for the Assumed Liabilities and anything else in this Agreement to the contrary notwithstanding, the Company shall
be responsible for (i) all liabilities and obligations arising out of goods or services provided by the Company and accruing prior to
the Closing Date, (ii) resulting from any failure of timely payment or performance by the Company or any breach by the Company of the
Assigned Contracts occurring prior to the Closing Date, (iii) all or any liabilities arising prior to the Closing Date, or (iv) not expressly
assumed by Buyer under this Agreement, and Buyer shall not assume, or in any way be liable or responsible for, any liabilities or obligations
of the Company except as specifically provided in Section 2.1 (the “Excluded Liabilities”). Without limiting
the generality of the foregoing, Buyer shall not assume the following:

 

(a) any
liability or obligation under contracts and other agreements to which the Company is a party or by or to which it or its assets, properties
or rights are bound or subject other than the Assigned Contracts (subject to the limitation on assumption set forth in Section 2.1);

 

(b) any
liability or obligation arising out of (i) any Taxes for which the Company is responsible or any Taxes arising in connection with the
Business or the Assets (or ownership thereof) for any taxable period or portion thereof ending on or prior to the Closing Date, (ii) a
breach of default by the Company prior to the Closing Date under any contract or agreement, any tortious or negligent conduct by the Company
whether prior to, on or after the Closing Date, (iii) any liability or obligation of the Company to any of its employees, agents or contractors,
including without limitation, any employee benefit, accrued salaries and related payroll expenses, commission, or bonus (whether or not
accrued), severance, change of control payment, or other liability related to the termination of any employee prior to, on or after the
Closing Date and any liability attributable to the Company’s classification of a person as an exempt or non-exempt employee except
to the extent such liability relates to employment of any such persons by the Buyer in the period of time after the Closing Date, or (iv)
cancellations of, or returns on, sales made by the Company to the extent such cancellations or returns are not Assumed Liabilities;

 

(c) any
liability or obligation of The Company with respect to any of the Company Employee Benefit Plans, in each case, including any liability
or obligation with respect to such Employee Benefit Plan and any liability for any payments of any kind whatsoever under the Employee
Retirement Income Security Act of 1974, as amended, or any comparable laws;

 

(d) any
liability or obligation owed by the Company to any Affiliate of the Company; or

 

(e) any
liability or obligation of the Company arising out of or in connection with the preparation of this Agreement and the consummation and
performance of the Contemplated Transactions whether or not such transactions are consummated, including, but not limited to, (i) any
Tax liability of the Company so arising or (ii) any liability to which the Company may become subject as a result of the fact that the
transactions contemplated by this Agreement are being effected without compliance with the provisions of any bulk sales act or any similar
statute as enacted in any jurisdiction.

 

    -13-

     

    

 

The Company shall discharge and satisfy in full
when due all liabilities and obligations not expressly assumed by Buyer pursuant to this Agreement.

 

2.5. The
Closing. Subject to the terms and conditions hereof, the closing of the purchase and sale of the Assets pursuant to this Agreement
(the “Closing”) shall take place by electronic document transfer (i.e., .pdf signature pages and fully
executed documents exchanged via email) as promptly as practicable following, but in no event later than the third (3rd) Business
Day following, the satisfaction or waiver of each of the conditions set forth in Sections ‎5 and ‎6 hereof
(other than those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or waiver of such
conditions at Closing), or at such other time and place as the Buyer and the Company may agree in writing (the day on which the Closing
takes place, the “Closing Date”). Subject to the provisions of Section 9.15, the failure of any party to consummate
the Closing on the date and time determined pursuant to this Section ‎2.5 shall not result in the termination of this
Agreement and shall not relieve such party of any obligation under this Agreement.

 

2.6. Closing
Deliveries and Payments.

 

2.6.1. Buyer
Closing Deliveries and Payments. At the Closing, the Buyer and the Parent shall deliver or cause to be delivered to the Company the
following:

 

(a) the
Closing Stock Consideration, minus the Escrow Amount;

 

(b) to
the Escrow Agent, the Escrow Amount (the “Escrow Account”);

 

(c) the
Escrow Agreement, duly executed by the Buyer and the Parent, and the various certificates, agreements, instruments and documents required
to be delivered by the Buyer and the Parent at or prior to the Closing referred to in Section ‎6; and

 

(d) all
other agreements, documents, instruments or writings as may be required to be delivered by the Buyer, at or prior to the Closing pursuant
to the terms of this Agreement, or as may reasonably be requested by the Company or its counsel.

 

2.6.2. Company
Closing Deliveries. At the Closing, the Company shall deliver or cause to be delivered to the Buyer the following:

 

(a) a
bill of sale duly executed by the Company for all the personal property included in the list of Assets, in form and substance reasonably
satisfactory to the Buyer;

 

(b) an
assignment for all of the Assets and Assumed Liabilities that are intangible personal property (i.e., contracts, intellectual property,
etc.) being assigned by the Company to Buyer, executed by the Buyer;

 

(c) all
consents, waivers or approvals required in order to effectuate the sale of the Assets, including but not limited to any key customer consents;

 

(d) list
of the Company’s customers, including names, email addresses, addresses and telephone numbers;

 

    -14-

     

    

 

(e) the
Escrow Agreement, duly executed by the Company, and any other agreements, documents, instruments or certificates required to be delivered
by the Company at or prior to the Closing pursuant to Section ‎‎5; and

 

(f) all
other agreements, documents, instruments or writings as may be required to be delivered by the Company, at or prior to the Closing pursuant
to the terms of this Agreement, or as may reasonably be requested by Buyer or its counsel.

 

2.7. Purchase
Price Adjustment.

 

2.7.1. Estimated
Closing Statement. The Company will in good faith prepare and deliver, or cause to be prepared and delivered, to the Buyer not later
than five (5) Business Days prior to the Closing Date a written statement (the “Estimated Closing Statement”) setting
forth in reasonable detail the Company’s good faith estimate of Working Capital (“Estimated Working Capital”).
The Estimated Closing Statement shall be accompanied by a certificate of the Company and the Chief Executive Officer of the Company certifying
that the estimates therein have been calculated in accordance with this Agreement.

 

2.7.2. Closing
Statement. As promptly as practicable, but in any event within ninety (90) days after the Closing Date, the Buyer will in good faith
prepare or cause to be prepared, and will provide to the Company, a written statement (the “Closing Statement”) setting
forth in reasonable detail the Buyer’s proposed determinations of Working Capital, as of the Balance Sheet Time. The Closing Statement
will solely be based on facts and circumstances as they exist prior to Closing and disregard any financing or other arrangements entered
into by the Buyer or any of its Affiliates in connection with the Contemplated Transactions.

 

2.7.3. Dispute
Notice. The Closing Statement will be final, conclusive and binding on the parties unless the Company provides a written notice (a
“Dispute Notice”) to the Buyer no later than forty-five (45) days after delivery of the Closing Statement setting forth
in reasonable detail any item(s) or amount(s) on the Closing Statement that are disputed by the Company (each, a “Disputed Item”).
Any item or amount on the Closing Statement to which no dispute is raised in the Dispute Notice will be final, conclusive and binding
on the parties. Without limiting the generality of the foregoing, a Dispute Notice may not be based on (i) developments occurring after
the Closing Date unless the Closing Statement contains information related to developments occurring after the Closing Date, or (ii) items
that are the subject of an asserted indemnification claim pursuant to Section ‎‎8.
The Buyer shall provide the Company and its Representatives with access to, and the opportunity to make copies of, the work papers and
other materials used or considered by the Buyer in the preparation of the Closing Statement, and reasonable access to personnel and Representatives
of the Buyer who assisted or were consulted in the preparation of the Closing Statement; provided, that, in each case such provision and
access shall be (i) for the purpose of reviewing the Closing Statement and to prepare any Dispute Notice and (ii) during normal business
hours and in a manner that does not interfere with the normal business operations of the Buyer or the Company.

 

    -15-

     

    

 

2.7.4. Resolution
of Disputes. The Buyer and the Company will attempt to resolve the Disputed Items in good faith during the twenty (20) day period
following delivery of the Dispute Notice and all such discussions will (unless otherwise agreed by the Buyer and the Company) be governed
by Rule 408 of the Federal Rules of Evidence and any comparable applicable state rule. Disputed Items resolved in writing by the
Company and the Buyer within the twenty (20) day period will be final, conclusive and binding on the parties. If the Buyer and the Company
are unable to resolve all Disputed Items in the Dispute Notice within such twenty (20) day period, either the Buyer or the Company may
provide written notice to the other (the “Dispute Submission Notice”) that such party is submitting any remaining Disputed
Items for resolution to the Independent Referee. The Buyer and the Company shall enter into a customary engagement letter with the Independent
Referee. The Buyer and the Company will use their commercially reasonable efforts to cause the Independent Referee to render its decision
as soon as practicable (but in any event within thirty (30) days) after the submission to the Independent Referee of their respective
proposed final calculations of the Disputed Items (which the Buyer and the Company shall submit to the Independent Referee not later than
ten (10) days following the giving of the Dispute Submission Notice). Each of the Buyer and the Company shall use reasonable best efforts
to comply with all reasonable requests by the Independent Referee for access to their respective work papers, information, books, records
and similar items, personnel and Representatives (provided, that such access and compliance is during normal business hours and does not
interfere with the normal business operations of the Buyer or the Company). The Independent Referee will review such final calculations
of the Disputed Items and render a final determination of all Disputed Items in accordance with this Section ‎2.7,
provided that the Independent Referee’s final determination with respect to each Disputed Item shall be within the range
of the proposed final calculations of such Disputed Item as presented in the Buyer’s Closing Statement pursuant to Section ‎2.7.2
and the Dispute Notice pursuant to Section ‎2.7.3. The Buyer and the Company each
shall be entitled to make a written submission to the Independent Referee (which need not be provided to the other party) in support of
its respective proposed final calculations of the submitted Disputed Items, provided that such submissions shall be submitted within
twenty (20) days after the submission to the Independent Referee of such proposed final calculations of the submitted Disputed Items.
The Independent Referee’s determination will be (a) in writing and shall include a reasonably detailed statement of the basis
for the Independent Referee’s decision, (b) furnished to each of the Buyer and the Company as soon as practicable (but in any
event within thirty (30) days) after the Company’s and the Buyer’s respective final calculations of the Disputed Items have
been submitted to the Independent Referee, (c) limited in scope to the Disputed Items and (d) final, conclusive and binding
on the parties, and judgment on such decision may be entered in any court of competent jurisdiction. The fees and expenses of the Independent
Referee shall be borne by (i) the Company, on the one hand, and (ii) the Buyer, on the other hand, based on the percentage that
the portion of the contested amount not awarded to each party bears to the amount actually contested by the parties in aggregate, and
such allocation of fees and expenses shall be calculated by the Independent Referee and such calculation shall be final and binding on
the parties. By way of illustration, (x) if the Buyer’s calculations would have resulted in a $100,000 net payment to the Buyer,
and the Company’s calculations would have resulted in a $100,000 net payment to the Company and the Independent Referee’s
final determination results in an aggregate net payment of $50,000 to the Company, then the Buyer and the Company shall pay 75% and 25%,
respectively, of such fees and expenses and (y) if each of such parties’ calculations differs from the Independent Referee’s
calculation by at least $100,000, the Buyer and the Company shall split such fees and expenses evenly. At any time the Buyer and the Company
may agree to settle any objections raised in the Dispute Notice, including any Disputed Items submitted to the Independent Referee, which
agreement shall be in writing and final, conclusive and binding upon all of the parties hereto with respect to the subject matter of any
such objection so resolved; provided that, the parties shall promptly provide a copy of such agreement to the Independent Referee
and instruct the Independent Referee not to resolve such Disputed Item, it being agreed that if the Independent Referee nonetheless resolves
such Disputed Item for any reason, the agreement of the parties shall control.

 

2.7.5. Post-Closing
Purchase Price Adjustment. As promptly as possible, but in any event no later than the fifth (5th) Business Day following the final
determination, in accordance with Section ‎2.7.3 and/or Section ‎2.7.4,
of Working Capital (“Final Working Capital Amount”), a Purchase Price adjustment shall be made as follows:

 

(a) if
the Final Working Capital Amount is less than the Estimated Working Capital Amount, then the Purchase Price will be reduced by an amount
equal to such shortfall (the “Post-Closing Reduction Amount”), and such Post-Closing Reduction Amount shall be released
to the Buyer from the Escrow Account (i) in the form of Closing Stock Consideration valued in accordance with Section 2.3 hereof
and (ii) in accordance with the terms of the Escrow Agreement and otherwise subject to Sections ‎‎8.2.1
and ‎‎8.10; or

 

    -16-

     

    

 

(b) if
the Final Working Capital Amount is greater than the Estimated Working Capital Amount, then the Purchase Price will be increased by an
amount equal to such excess and the Buyer will transfer to the Escrow Agent additional Closing Stock Consideration equal to such excess
amount valued in accordance with Section 2.3 hereof within five (5) Business Days after the determination of such excess amount, and such
additional Closing Stock Consideration shall be held by the Escrow Agent in accordance with the terms of the Escrow Agreement and the
applicable terms herein.

 

2.8. Earn
Out. The Company shall be entitled to receive the Earn Out as additional consideration as set forth in this Section ‎2.8.

 

2.8.1. Earn
Out Statement. Within forty-five (45) days following the end of each Earn Out Period, Buyer will prepare and deliver to the Company
a statement (an “Earn Out Statement”) setting forth whether applicable non-economic milestones have been met for that
portion of the Earn Out Period.

 

2.8.2. Payments.

 

(a) If
the Continuing Business achieves milestones for the relevant Earn Out Periods, as set forth in Schedule 2.8.2(a) and as reasonably
and in good faith confirmed by Buyer in the relevant Earn Out Statement, Parent shall issue to the Company the amounts attached to the
relevant milestone according to Schedule 2.8.2(a) (such calculated amounts are referred to as the “Earn Out Amount”).

 

(b) The
Parent shall issue the relevant portion(s) of the Earn Out Amount within 10 days after the Company confirms that the Company will not
deliver an Earn Out Dispute Notice for the applicable Earn Out Period, if applicable, and if the Company disputes any element of an Earn
Out Statement , pursuant to Section ‎2.8.4, then any payment shall be due on such
date as the Buyer and the Company resolve the dispute under Section ‎2.8.4 (a date
on which payment is due is referred to as a “Earn Out Payment Date”).

 

2.8.3. Reserved.

 

2.8.4. Disputes.

 

(a) Company
may dispute any element of an Earn Out Statement by delivering written notice to Buyer of said disagreement, setting forth in detail the
particulars of such disagreement (a “Earn Out Dispute Notice”), within thirty (30) days after the receipt by Company
of an Earn Out Statement. During such thirty (30) day period, Company and any accountant or agent of Company shall have full access during
normal business hours (i) to the relevant books and records of, and the work papers prepared by, Buyer to the extent that they relate
to an Earn Out Statement or any calculation provided therewith, and (ii) to such historical financial information (to the extent in Buyer’s
possession) relating to an Earn Out Statement or any calculation provided therewith as Company may reasonably request for the purpose
of reviewing an Earn Out Statement or any calculation provided therewith.

 

(b) In
the event that Company did not provide such a Earn Out Dispute Notice within such thirty (30) day period, Company shall be deemed to have
accepted an Earn Out Statement and any calculation provided thereunder, which shall thereafter be final, binding, non-appealable and conclusive
for all purposes hereunder.

 

    -17-

     

    

 

(c) In
the event a Earn Out Dispute Notice is timely provided, Buyer and Company shall use their reasonable efforts for a period of thirty (30)
days (or such longer period as they shall mutually agree) from the date of receipt of such notice, to resolve such disagreements.

 

(d) If
the Buyer and the Company are unable to resolve the matters disputed in the Earn Out Dispute Notice within such 30-day period, either
the Buyer or the Company may provide written notice to the other (the “Earn Out Dispute Submission Notice”) that such
party is submitting any remaining matters disputed in the Earn Out Dispute Notice for resolution to the Independent Referee, subject to
Section ‎2.8.4(e). The Buyer and the Company shall enter into a customary engagement letter
with the Independent Referee. The Buyer and the Company will use their commercially reasonable efforts to cause the Independent Referee
to render its decision as soon as practicable (but in any event within thirty (30) days) after the submission to the Independent Referee
of their respective proposed determinations (which the Buyer and the Company shall submit to the Independent Referee not later than ten
(10) days following the giving of the Earn Out Dispute Submission Notice). Each of the Buyer and the Company shall use reasonable best
efforts to comply with all reasonable requests by the Independent Referee for access to their respective work papers, information, books,
records and similar items, personnel and Representatives (provided that such access and compliance is during normal business hours
and does not interfere with the normal business operations of the Buyer or the Company). The Independent Referee will review such matters
disputed in the Earn Out Dispute Notice and render a final determination of the matters disputed in the Earn Out Dispute Notice in accordance
with this Section ‎2.8. The Buyer and the Company each shall be entitled to make
a written submission to the Independent Referee (which need not be provided to the other party) in support of its respective proposed
final determinations of the matters disputed in the Earn Out Dispute Notice, provided that such submissions shall be submitted
within twenty (20) days after the submission to the Independent Referee of such proposed final determinations of the matters disputed
in the Earn Out Dispute Notice. The Independent Referee’s determination will be (a) in writing and shall include a reasonably
detailed statement of the basis for the Independent Referee’s decision, (b) furnished to each of the Buyer and the Company
as soon as practicable, and (c) final, conclusive and binding on the parties, and judgment on such decision may be entered in any
court of competent jurisdiction. The fees and expenses of the Independent Referee shall be borne by (i) the Company, on the one hand,
and (ii) the Buyer, on the other hand, based on the percentage that the portion of the contested amount not awarded to each party
bears to the amount actually contested by the parties in aggregate, and such allocation of fees and expenses shall be calculated by the
Independent Referee and such calculation shall be final and binding on the parties. By way of illustration, if the Buyer’s calculations
would have resulted in an Earn Out Amount equal to a dollar value of Five Hundred Thousand Dollars ($500,000) due to the Company and the
Company’s calculations would have resulted in an Earn Out Amount equal to a dollar value of Seven Hundred Thousand Dollars ($700,000)
due to the Company and the Independent Referee’s final determination results in an Earn Out Amount equal to a dollar value of Six
Hundred Thousand Dollars ($600,000) due to the Company, then the Buyer shall pay fifty percent (50%) and the Company shall pay fifty percent
(50%) of such fees and expenses. At any time the Buyer and the Company may agree to settle the dispute, which agreement shall be in writing
and final, conclusive and binding upon all of the parties hereto with respect to the subject matter of any such objection so resolved;
provided that, the parties shall promptly provide a copy of such agreement to the Independent Referee and instruct the Independent
Referee not to resolve the dispute, it being agreed that if the Independent Referee nonetheless resolves the dispute for any reason, the
agreement of the parties shall control.

 

(e) Notwithstanding
any provision of this Agreement to the contrary, the Independent Referee shall not have the power to resolve any dispute relating to Section
2.8.5.

 

    -18-

     

    

 

2.8.5. The
rights of the Company to receive the Earn Out Amount (i) are solely contractual rights and are not securities for purposes of any federal
or state securities Laws, and shall confer upon the Company only the rights of general unsecured creditors; (ii) do not constitute an
investment or ownership interest in Buyer or the Parent; (iii) are an integral part of the consideration payable by the Buyer for the
Assets; (iv) will not be represented by any form of certificate or instrument; (v) do not give the Company any dividend rights, voting
rights, liquidation rights, preemptive rights or other rights as security holders of the Parent or the Buyer or any of their Affiliates;
(vi) are not redeemable; (vii) do not bear interest; and (viii) may not be sold, assigned, pledged, gifted, conveyed or otherwise transferred
(a “Transfer”), except by operation of law or pursuant to the laws of descent and distribution (with any Transfer in
violation of this Section ‎2.8.5 being null and void). The Parties agree to treat
the Earn Out Payment as consideration payable by the Buyer for the Assets for all tax purposes and consistent with Section 2.9 below,
except as and to the extent required by applicable Legal Requirement.

 

2.9. Tax
Treatment. For U.S. federal income Tax purposes, the parties acknowledge and agree that the consummation of the transactions contemplated
hereunder are intended to qualify as a “reorganization” within the meaning of Section 368(a)(1)(C) of the Code, and the regulations
promulgated thereunder, and that this Agreement will constitute a “plan of reorganization” for purposes of Sections 354 and
361 of the Code. The parties hereto covenant and agree to file all applicable Tax Returns consistent with this paragraph and not take
any position on any such Tax Return inconsistent with this paragraph unless otherwise required by applicable Legal Requirements

 

3. Representations
and Warranties of the Company.

 

Except as provided in the
Disclosure Schedules (subject to Section ‎‎10.15), the Company represents and warrants to the Buyer as of the date hereof
and the Closing Date (unless the particular statement speaks expressly as of a particular date, in which case it is true and correct only
as of such date) as follows (in each case, except where context implies otherwise, with respect to the Company and its direct and indirect
Subsidiaries):

 

3.1. Power
and Authorization. The Company has the limited liability company power and authority to execute and deliver this Agreement and to
perform its obligations hereunder. The Company has taken all company actions or proceedings required to be taken by or on the part of
the Company to authorize and permit the execution and delivery by the Company of this Agreement and the instruments required to be executed
and delivered by it pursuant hereto, and the performance by the Company of its obligations hereunder and the consummation by the Company
of the Contemplated Transactions. This Agreement has been duly executed and delivered by the Company, and assuming the due authorization,
execution and delivery by each of the other parties hereto, constitutes the legal, valid and binding obligation of the Company, enforceable
against it in accordance with its terms.

 

3.2. Organization.
The Company is (a) duly organized, validly existing and in good standing under the laws of the State of New York, and (b) the Company
has all requisite power and authority and all Permits necessary to own, lease and operate its properties and assets and to carry on its
businesses as currently conducted and as proposed to be conducted. The Company is duly qualified or licensed to do business and is in
good standing in each jurisdiction where the character of the properties owned, leased or licensed by it or the nature of its business
makes such qualification, licensing or good standing necessary, except where the failure to be so qualified or licensed or in good standing
has not had, and would not reasonably be expected to have, a Material Adverse Effect. The Company has made available to the Buyer true
and correct copies of the Company’s Organizational Documents. The Company is not in violation of any of the provisions of its Organizational
Documents, and no changes thereto are pending.

 

    -19-

     

    

 

3.3. No
Violation or Approval; Consents. Except as set forth in Schedule ‎3.3, none of
the execution and delivery of or its performance of its obligations under this Agreement by the Company or its consummation of the Contemplated
Transactions, will:

 

3.3.1. require
any consent, waiver, approval, clearance, permit, order or authorization of or from, or registration, declaration, notice or filing to
or with any Governmental Authority with respect to the Company or any Company Subsidiary or pursuant to any Legal Requirement applicable
to the Company;

 

3.3.2. require
any consent of any third party to the sale by of the Assets or the assumption of the Assumed Liabilities;

 

3.3.3. (1)
result in a breach of, constitute (with or without due notice or lapse of time or both) a default under, result in the acceleration of
obligations under, create in any Person the right to accelerate, terminate, modify or cancel, or require any notice, consent or waiver
under, any Contract, Permit, Lien (other than Permitted Liens) or other arrangement to which the Company or its Subsidiary is a party
or by which the Company or its Subsidiary is bound or to which its assets are subject except in the case where such breach, default, or
acceleration would not have a Material Adverse Effect, or (2) result in the imposition of any Lien (other than Permitted Liens); or

 

3.3.4. result
in a breach or violation of, or default under, the Organizational Documents of the Company or any of its Subsidiaries.

 

3.4. Assets.

 

3.4.1. Sufficiency
of Assets. The Assets constitute all of the assets, tangible and intangible, of any nature whatsoever, necessary to operate the technology
and products and services of the Business in the manner presently operated by the Company.

 

3.4.2. Title
and Related Matters. The Company is the legal owner of, and has good, marketable and transferable title to, and the absolute power
and right to sell, assign, transfer and deliver, all of the Assets, free and clear of all Liens, except for Permitted Liens.

 

3.4.3. Condition
of Assets to be Acquired. All of the Assets are in good operating condition and repair (ordinary wear and tear excepted) and are adequate
for the uses to which they are being put, and none of such Assets are in need of maintenance or repairs except for ordinary, routine maintenance
and repairs that are not material in nature or cost.

 

3.4.4. Accounts
Receivable. All accounts receivable that are reflected on Company’s Reference Balance Sheet or on the accounting records of Company
as of the Closing Date represent or will represent valid obligations arising from sales actually made or services actually performed by
the Company in the ordinary course of business. There is no contest, claim, defense or right of setoff, under any contract with any account
debtor of an account receivable relating to the amount or validity of such account receivable. Schedule 3.4 contains an aged list
of the accounts receivable, contract rights, and other rights to receive money of the Company as of August 31, 2021, showing separately
those receivables that have been outstanding for (a) 29 days or less, (b) 30 to 59 days, (c) 60 to 89 days, (d) 90 to 119 days and (e)
more than 119 days, and in each case showing the name of the account debtor, maker or obligor, the unpaid balance and the age of each
receivable.

 

    -20-

     

    

 

3.5. Financial
Statements, Etc.

 

3.5.1. The
Company has furnished the Buyer with copies of: (a) the unaudited consolidated balance sheet of the Company as of December 31,
2019 and December 31, 2020, and the related statements of income and cash flows of the Company for the fiscal year then ended (the “Unaudited
Financial Statements”) and (b) the unaudited balance sheet of the Company as of August 31, 2021 (respectively, the “Reference
Balance Sheet” and the “Reference Balance Sheet Date”) and the related statements of income and cash flows
of the Company for the fiscal year then ended (the “Interim Financial Statements” and, collectively with the Unaudited
Financial Statements, the “Financial Statements”). The Financial Statements present fairly in all material respects
the financial position of the Company and the results of operations of the Company and any of its Subsidiaries (taken as whole) as of
the respective dates thereof and for the periods covered thereby subject in the case of the Reference Balance Sheet to the absence of
footnote disclosures and other presentation items. Except as disclosed in Schedule ‎3.5,
neither the Company nor its Subsidiaries has any Liabilities (whether or not required to be reflected in the Financial Statements under
GAAP), except for Liabilities that (v) are reflected in or reserved against in the Reference Balance Sheet, (w) have arisen or incurred
after the date of the Reference Balance Sheet in the ordinary course of business (none of which results from, arises out of, relates to,
is in the nature of, or was covered by any breach of contract, breach of warranty, tort, infringement, or violation of Legal Requirement)
and are reflected in the calculation of the Estimated Working Capital Amount, (x) Liabilities arising pursuant to the terms of any
Contract for which the Company or any of its Subsidiaries is a party that have not yet been performed (provided, neither the Company
nor any of its Subsidiaries is in breach, violation, or non-compliance with such Contract), and (z) are included in Indebtedness or Transaction
Expenses.

 

3.5.2. The
Company has in place systems and processes (including the maintenance of proper books and records) that are designed to (1) provide
reasonable assurances regarding the reliability of the Financial Statements and (2) in a timely manner accumulate and communicate
to the Company’s principal executive officer and principal financial officer the type of information that would be required to be
disclosed in the Financial Statements (such systems and processes, the “Financial Controls”). None of the Company,
its Subsidiaries, their respective officers nor the Company’s independent auditors has identified or been made aware of any complaint,
allegation, deficiency, assertion or claim, whether written or oral, regarding the Financial Controls or the Financial Statements that
has not been resolved. There have been no instances of fraud or intentional misrepresentation by any Worker, whether or not material,
that occurred during any period covered by the Financial Statements.

 

3.6. Ordinary
Course of Business; No Material Adverse Effect. Since the Reference Balance Sheet Date: (a) the Company and its Subsidiaries have
operated in the ordinary course of business; and (b) no Material Adverse Effect has occurred.

 

3.7. Taxes.
Except in each case as set forth on Schedule ‎3.7:

 

3.7.1. The
Company and any of its Subsidiaries have timely filed, or have caused to be timely filed on their behalf (after giving effect to extensions),
all Tax Returns required to be filed by or with respect to the Company and each of its Subsidiaries. All such Tax Returns were true, correct
and complete in all material respects. All Taxes required to be paid by or with respect to the Company or its Subsidiaries (whether or
not shown as due and payable on any such Tax Return) have been paid in full.

 

    -21-

     

    

 

3.7.2. All
Taxes required to have been withheld and paid in connection with amounts paid by the Company or its Subsidiaries to any Worker, creditor,
equityholder, or other third party have been withheld and paid to the appropriate Taxing Authority.

 

3.7.3. Neither
the Company nor any of its Subsidiaries have been notified in writing by a Taxing Authority of any deficiency or other assessment, audit
or examination concerning Taxes of the Company or any of its Subsidiaries that, if determined adversely to the Company or its Subsidiaries,
would reasonably be expected to result in material Tax Liability.

 

3.7.4. There
are no pending requests for rulings or determinations by or before a Taxing Authority relating to Taxes with respect to the Company or
any of its Subsidiaries. No power of attorney has been executed by or on behalf of the Company or any of its Subsidiaries with respect
to any matters relating to Taxes that is currently in force.

 

3.7.5. There
has been no extension or waiver of any statute of limitations in respect of Taxes with respect to the Company or any of its Subsidiaries
that remains in effect.

 

3.7.6. No
claim or nexus inquiry has been made by a Taxing Authority in a jurisdiction where the Company or any of its Subsidiaries does not file
Tax Returns that the Company or any of its Subsidiaries is or may be subject to taxation by that jurisdiction or that the Company or any
of its Subsidiaries has a duty to collect Taxes.

 

3.7.7. None
of the assets of the Company or any of its Subsidiaries are currently subject to any Liens with respect to Taxes, other than Permitted
Liens.

 

3.7.8. Neither
the Company nor any of its Subsidiaries is a party to or bound by any Tax sharing agreement, Tax
indemnity, or tax-allocation agreement other than any such agreement not primarily related to Taxes.

 

3.7.9. Neither
the Company nor any of its Subsidiaries has, or ever had, (during any taxable period remaining open for the assessment of Tax by any applicable
Taxing Authority under its applicable statute of limitations), any place of business
or permanent establishment in any jurisdiction outside the United States.

 

3.7.10. Neither
the Company nor any of its Subsidiaries has obtained any consent or clearance from or entered
into any settlement or arrangement with any Taxing Authority that would be binding on Buyer or result in a material Tax Liability for
Buyer for any Tax period (or portion thereof) ending after the Closing Date. 

 

3.7.11. The
Company and its Subsidiaries have properly and timely documented its transfer pricing methodology in compliance with Sections 482 and
6662 of the Code and any similar or comparable provision of applicable Legal Requirement. Neither the Company nor any of its Subsidiaries
is a party to any advance pricing agreement or any similar or comparable contract or agreement. 

 

3.7.12. Neither
the Company nor any of its Subsidiaries has ever participated in an international boycott within the meaning of Section 999 of
the Code.

 

3.7.13. Schedule
‎3.7.13 contains a true and complete list of all jurisdictions (whether foreign or domestic)
to which any Tax is properly payable by the Company and its Subsidiaries.

 

3.7.14 The Company
has in effect a valid election under Treasury Regulation Section 301.7701-3 to be classified as an association taxable as a C corporation.

 

    -22-

     

    

3.8. Operations
in Conformity with Laws.

 

3.8.1. The
Company and each of its Subsidiaries have complied in all material respects with, are not in material violation of, and have not received,
nor to the Company’s Knowledge is there any Basis for, any allegation or notice of material default or violation with respect to,
any Legal Requirement or Permits with respect to the conduct of its business, or the ownership or operation of its business. No event
has occurred, and no condition or circumstance exists, that might (with or without notice or lapse of time or both) constitute, or result
directly or indirectly in, a default under, a material breach or violation of, or a failure to comply with, any Legal Requirement or Permits
with respect to the conduct of the business of the Company or any of its Subsidiaries or the ownership or operation of the Company or
any of its Subsidiaries. The Company and its Subsidiaries owns or possess all Permits that are necessary to conduct the business of the
Company and its Subsidiaries as presently conducted and as proposed to be conducted.

 

3.8.2. None
of the Company, any of its Subsidiaries or any of their respective Representatives, or distributors while retained by the Company or any
other Person acting on behalf of any such Person have, with respect to the business of the Company or any of its Subsidiaries, (1) used
any funds for unlawful contributions, gifts, entertainment or other unlawful payments relating to any political activity or (2) made any
unlawful payment to any government official or employee or any political party or campaign or violated any provision of the U.S. Foreign
Corrupt Practices Act of 1977 or any other Legal Requirement applicable to the conduct of business with Governmental Authorities (collectively,
“Anti-bribery Laws”). The Company has made available to Buyer true, correct and complete copies of each Contract in
effect, if any, as of the date of this Agreement between the Company or any of its Subsidiaries, on the one hand, and any sales agent
or foreign representative thereof, on the other hand.

 

3.8.3. Except
as set forth on Schedule 3.8.3, neither the Company nor any of its Subsidiaries has applied for or received, is or will be entitled
to or is or will be the beneficiary of any grant, subsidy or financial assistance from any Governmental Authority.

 

3.8.4. The
Company and each of its Subsidiaries have at all times conducted their business in accordance with (1) all applicable U.S. export control
and economic sanctions laws, including the Export Administration Regulations, the Arms Export Control Act, the International Traffic in
Arms Regulations, and the various statutes, regulations, and executive orders administered by the U.S. Department of the Treasury, Office
of Foreign Assets Control; and (2) all other applicable import/export controls in other countries in which the Company conducts business.

 

    -23-

     

    

 

3.8.5. Schedule
3.8.5 sets forth the true, complete and accurate export control classifications applicable to the Company’s or any of its Subsidiaries’
products, services, software and technologies.

 

3.8.6. Each
Permit (i) under which the Company or any of its Subsidiaries currently operates or holds any interest in any of their assets, or (ii)
that is required for the operation of the Company’s or any of its Subsidiaries’ businesses as presently conducted or the holding
of any such interest (collectively, the “Company Authorizations”) has been issued or granted to the Company or one
of its Subsidiaries, as applicable. The Company Authorizations are in full force and effect and constitute all Company Authorizations
required to permit the Company and each of its Subsidiaries to lawfully operate or conduct their businesses or hold any interest in their
assets.

 

3.9. Intellectual
Property.

 

3.9.1. Schedule
3.9.1 (i) sets forth each granted patent, pending patent application, copyright registration or application therefor, and trademark,
service mark and domain name registration or application therefor owned by or purported to be owned by the Company or any of its Subsidiaries
(“Company Registered IP”) and any actions that must be taken within one hundred eighty (180) days after the date hereof
for the purposes of obtaining, maintaining, perfecting, preserving or renewing any of the foregoing, including the payment of any
registration, maintenance or renewal fees or the filing of documents, applications or certificates or any responses to office actions.
The Company or any of its Subsidiaries is the owner of the Company Registered IP free and clear of all Liens (other than Permitted Liens).
Each of the Company Registered IP is valid, enforceable and subsisting, all necessary registration, maintenance and renewal fees currently
due in connection with such Company Registered IP have been made and all necessary documents, recordations and certificates in connection
with such Company Registered IP have been filed with the relevant Governmental Authority. Schedule 3.9.1(i) sets forth an accurate
and complete list of all material Intellectual Property owned or purported to be owned by the Company or any of its Subsidiaries that
is not Company Registered IP. The Company or any of its Subsidiaries has not received any written notice challenging the legality, validity,
enforceability or ownership of any Intellectual Property owned or purported to be owned by the Company or any of its Subsidiaries. The
Company has not licensed any rights to or in U.S. Patent No. 10,803,985., other than to USARAD Holdings, Inc

 

3.9.2. The
Company or its Subsidiaries exclusively and solely owns, free of any Liens other than non-exclusive licenses entered into in the ordinary
course of business, or has the right to use all Intellectual Property necessary (i) to use, manufacture, sell, offer for sale, import,
supply, perform, reproduce, display, market and distribute the Customer Deliverables and (ii) to use, make, perform, reproduce and operate
the Internal Systems. The Company and its Subsidiaries have taken all reasonable measures to protect the proprietary nature of each item
of Company Intellectual Property, and to maintain in confidence all trade secrets and confidential information, that it owns or uses.
No other person or entity has any rights to any of the Company Intellectual Property owned by or purported to be owned by the Company
or any of its Subsidiaries (except pursuant to agreements or licenses additionally specified in Schedule 3.9.2), and, to the Company’s
Knowledge, no other person or entity is infringing, violating or misappropriating any of the Company Intellectual Property.

 

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3.9.3. Except
as would not have a Material Adverse Effect, to the Company’s Knowledge, the operation by the Company and its Subsidiaries of their
business, including the design, development, use, import, export, manufacture, licensing, sale, offering for sale, supply or other disposition
of the Customer Deliverables and/or the Internal Systems does not (i) infringe, violate or misappropriate the Intellectual Property rights
of any Person, or (ii) constitute unfair competition or trade practices under applicable laws. Schedule 3.9.3 additionally lists
any unresolved complaint, claim or notice, or written threat thereof, received by the Company or any of its Subsidiaries alleging any
such infringement, violation or misappropriation; and the Company or any of its Subsidiaries have made available to Buyer complete and
accurate copies of all written documentation in the possession of the Company or any of its Subsidiaries relating to any such unresolved
complaint, claim, notice or threat. The Company and its Subsidiaries have made available to Buyer complete and accurate copies of all
written documentation in the Company’s possession relating to current, unresolved claims or disputes known to the Company or any
of its Subsidiaries concerning any Company Intellectual Property. To the Company’s Knowledge, no third party has threatened any
Action or claim against the Company or any of its Subsidiaries for the infringement, violation or misappropriation of any Intellectual
Property.

 

3.9.4. Except
as described in Schedule 3.9.4, neither the Company nor any of its Subsidiaries has agreed to indemnify any person or entity against
any infringement, violation or misappropriation of any Intellectual Property.

 

3.9.5. Schedule
3.9.5 identifies each item of Company Intellectual Property that is owned, in whole or in part, by a party other than the Company
or one of its Subsidiaries, and the license or agreement pursuant to which the Company or any of its Subsidiaries uses it (excluding off-the-shelf
software programs licensed by the Company or one of its Subsidiaries pursuant to “shrink wrap” or “click through”
licenses).

 

3.9.6. Neither
the Company nor any of its Subsidiaries has disclosed the source code for any software developed by it, or other confidential information
constituting, embodied in or pertaining to such software, to any person or entity, except pursuant to the agreements listed in Schedule
3.9.6, and neither the Company nor its Subsidiaries have taken reasonable measures to prevent disclosure of such source code.

 

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3.9.7. All
of the Intellectual Property incorporated in or used in conjunction with the Customer Deliverables and/or the Internal Systems have been
created by employees or agents of the Company and its Subsidiaries within the scope of their employment or engagement by the Company and
its Subsidiaries or by independent contractors of the Company and its Subsidiaries. Each Worker has executed written, valid and enforceable
agreements expressly assigning to the Company or its Subsidiaries all right, title and interest in and to any Intellectual Property conceived
of, created, developed or first reduced to practice in the course of such Worker’s employment by or engagement with the Company
or one of its Subsidiaries. No portion of such Intellectual Property was jointly developed with any third party, except to the extent
all right, title and interest in and to such Intellectual Property held by such third party as a result of such joint development has
been assigned to the Company or its Subsidiaries. The Company and its Subsidiaries have paid, in full, all required compensation to employees,
agents or independent contractors in relation to all Intellectual Property owned or purported to be owned by the Company and its Subsidiaries,
and neither this Agreement nor any transactions contemplated by this Agreement will result in any further amounts being payable to any
Worker.

 

3.9.8. Except
as set forth in Schedule 3.9.8, neither the Company nor any of its Subsidiaries has (i) incorporated any Open Source Materials
into, or combined Open Source Materials with, any Customer Deliverables and/or Internal Systems, (ii) distributed Open Source Materials
in connection with any Customer Deliverables and/or Internal Systems, or (iii) used Open Source Materials in any manner that (A) creates,
or purports to create, obligations for the Company or any of its Subsidiaries with respect to software developed or distributed by the
Company or any of its Subsidiaries or (B) grants, or purports to grant, to any third party any rights or immunities under intellectual
property rights. Without limiting the generality of the foregoing, neither the Company nor any of its Subsidiaries has used any Open Source
Materials that require, as a condition of use, modification and/or distribution of such Open Source Materials, that other software incorporated
into, derived from or distributed with such Open Source Materials be (1) disclosed or distributed in source code form, (2) licensed for
the purpose of making derivative works, or (3) redistributable at no charge.

 

3.9.9. Neither
the Company nor any of its Subsidiaries is subject to any agreement with any standards body or other similar entity that would obligate
the Company or any of its Subsidiaries to grant licenses or rights to or otherwise impair its control, enforcement or use of any Intellectual
Property owned or purported to be owned by the Company or any of its Subsidiaries.

 

3.9.10. There
is no Order or other prohibition or restriction, issued by a Governmental Entity, on the use, practice or exploitation of any Customer
Deliverables or the Internal Systems in any jurisdiction in which the Company or any of its Subsidiaries currently conducts, has conducted
or currently contemplates conducting business.

 

3.9.11. No
Governmental Entity, university, or other similar educational institution has provided or provides facilities or funding for the creation
or development of any Intellectual Property owned or purported to be owned by the Company or any of its Subsidiaries. No Governmental
Entity, university, or other similar educational institution have any rights in or with respect to any Intellectual Property owned or
purported to be owned by the Company or any of its Subsidiaries.

 

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3.9.12. The
Company and its Subsidiaries have (1) complied in all material respects with its privacy policies and guidelines, related contractual
obligations with customers and all Legal Requirements; and (2) taken all adequate and necessary measures to ensure that its data, including
but not limited to personal information, is protected against loss, damage, and unauthorized access, use, modification, or other misuse.
To the Company’s Knowledge, there has been no (i) loss, damage, or unauthorized access, use, transmission, modification, or other
misuse of any such information by the Company or any of its Subsidiaries or any of its employees, or any agents or third parties; or (ii)
unauthorized access to any databases, computers, storage media (e.g., backup tapes), network devices, or other devices that process or
store personal information, whether hosted or operated by the Company or any of its Subsidiaries or any other Person on the Company’s
or its Subsidiaries’ behalf. To the Company’s Knowledge, no Person (including any Governmental Authority) has made any claim
or commenced any Action with respect to any alleged loss, damage, or unauthorized access, use, modification, or other misuse of any such
personal information by the Company or its Subsidiaries or any employee.

 

3.9.13. Schedule
3.9.13 sets forth all Intellectual Property owned by the Company and its Subsidiaries that is issued or registered or subject to pending
applications for issuance or registration in the name of the Company or any of its Subsidiaries. To the Company’s Knowledge, the
Intellectual Property set forth on Schedule 3.9.13 is valid, subsisting and enforceable.

 

3.10. Assigned
Contracts.

 

3.10.1. Schedule 3.10.1 includes each contract included in the Assets and being assigned to and assumed by
Buyer (the “Assigned Contracts”). The Company has made available to the Buyer an accurate and complete copy of each
Assigned Contract. All Assigned Contracts are valid, binding against the Company or one of its Subsidiaries, as applicable, and in
full force and effect. The Company and its Subsidiaries are not, and, to the Company’s Knowledge, no other party is in
material default under, or in material breach or violation of, any Assigned Contract, and (b) to the Company’s Knowledge
no event has occurred on or prior to the date hereof (with or without notice, lapse of time or both) would constitute a material
default by the Company or any of its Subsidiaries under any Assigned Contract.

 

3.10.2. The
Assigned Contracts include all customer contracts; contracts with consultants, contracts relating to the Company’s technology, products
and services, and IP.

 

3.10.3. No
Assigned Contracts are Government Contracts.

 

3.11. Transactions
with Affiliates. Except as set forth on Schedule 3.11, no Affiliate, officer, manager or director (or the equivalent)
of the Company or any of its Subsidiaries (nor any immediate family member of such Persons or any trust, partnership or company in which
any of such Persons has or has had an interest) has or has had, directly or indirectly, other than with respect to the payment of compensation
to officers, managers and directors (or the equivalent) in the ordinary course of business, (a) any interest in any third party which
furnished or sold, or furnishes or sells, services, products or technology that the Company or any of its Subsidiaries furnishes or sells,
or proposes to furnish or sell, (b) any interest in any third party that purchases from or sells or furnishes to the Company or any
of its Subsidiaries any goods or services or (c) any interest in any contract to which the Company or any of its Subsidiaries is
a party, except that ownership of no more than one percent of the outstanding voting stock of a publicly traded company shall not be deemed
to be an “interest in any third party” for purposes of this Section 3.11.

 

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3.12. Litigation.
Except as set forth on Schedule 3.12, there is no Action pending or, to the Company’s Knowledge, threatened against
the Company or any of its Subsidiaries, or any of their respective assets or property, including any Company Intellectual Property, or
any of their respective officers, managers or directors in their capacities as such. No Governmental Order has been or is outstanding
against the Company or any of its Subsidiaries, any of their respective assets or properties, or any of the Company’s or its Subsidiaries’
officers, managers or directors in their respective capacities as such. There is no Action pending or, to the Company’s Knowledge,
threatened, against any Person who has a contractual right or a right pursuant to the Organizational Documents, other Legal Requirement
to indemnification from the Company related to any Basis existing prior to the Closing Date, nor is there any Basis therefor. There is
no Action pending or, to the Company’s Knowledge, threatened based on a claim of breach of fiduciary duty by the Company’s
directors or officers arising out of actions taken by the Company’s managers, directors or officers prior to the Closing Date, nor
is there any Basis therefor. There is no Action by the Company or any of its Subsidiaries pending, threatened or contemplated against
any other Person.

 

3.13. Brokers.
There are no brokerage commissions, finders’ fees or similar compensation payable in connection with the Contemplated Transactions
based on any arrangement or agreement made by or on behalf of the Company other than fees (if any) that will be paid by the Company and
its Affiliates and for which the Buyer and (after the Closing) the Company will have no responsibility to pay.

 

3.14. Customers
and Suppliers. Schedule 3.14 sets forth a list of the ten (10) largest customers of the Company (measured by aggregate
revenue) and five (5) largest suppliers of the Company (measured by aggregate payments) for the twelve (12) month period ending on the
Reference Balance Sheet Date. Since the Reference Balance Sheet Date, no customer or supplier listed on Schedule 3.14 has
provided written notice that it intends to cease doing business with or materially decrease the amount of business done with the Company
or materially alter the terms upon which it is willing to do business with the Company.

 

3.15. Regulatory
Matters.

 

3.15.1. The
Company has not classified the items that it produces, designs, tests, manufactures, fabricates, or develops for purposes of U.S. export
controls (including hardware, software, technology). The Company does not produce, design, test, manufacture, fabricate, or develop any
items that are controlled for export under the Export Administration Regulations, 15 CFR Parts 730-744. The Company does not produce,
design, test, manufacture, fabricate, or develop any defense articles, technical data, or services subject to the International Traffic
in Arms Regulations, 22 CFR Parts 120-130. The Company is not registered under the ITAR with the U.S. Department of State’s Directorate
of Defense Trade Controls. The Company does not have a facility clearance to do classified work for the U.S. Government. The Company does
not maintain or collect any “sensitive personal data” as that term is used in 31 CFR § 800.248.

 

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3.16. Data
Privacy. In connection with its collection, storage, use and/or disclosure of any information that constitutes “personal information,”
“personal data” or “personally identifiable information” as defined in applicable laws (collectively “Personal
Information”) by or on behalf of the Company, the Company is and has been, to the Company’s Knowledge, in compliance with
(i) all applicable laws (including, without limitation, the Health Insurance Portability and Accountability Act of 1996, as amended, and
laws relating to privacy, data security, telephone and text message communications, and marketing by email or other channels) in all relevant
jurisdictions, and (ii) the Company’s privacy policies, by which the Company is bound. The Company maintains and has maintained
reasonable physical, technical, and administrative security measures and policies designed to protect all Personal Information owned,
stored, used, maintained or controlled by or on behalf of the Company from and against unlawful, accidental or unauthorized access, destruction,
loss, use, modification and/or disclosure. The Company is and has been, to the Company’s Knowledge, in compliance in all material
respects with all laws relating to data loss, theft and breach of security notification obligations.

 

3.17. Stock
Consideration.

 

(a) The
Stock Consideration to be acquired by the Company will be acquired for investment for the Company’s own account, not as a nominee
or agent, and not with a view to the resale or distribution of any part thereof, and that the Company has no present intention of selling,
granting any participation in, or otherwise distributing the same. Company does not presently have any contract, undertaking, agreement
or arrangement with any Person to sell, transfer or grant participations to such Person or to any third Person, with respect to any of
the Stock Consideration.

 

(b) The
Company understands that the Stock Consideration is “restricted securities” under applicable U.S. federal and state securities
laws and that, pursuant to these laws, the Company must hold the Stock Consideration for a period of six months until the Stock Consideration
is freely tradeable pursuant to Rule 144 promulgated pursuant to the Securities Act.

 

The Company understands that
the Stock Consideration has not been, and will not be, registered under 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 Company’s representations as expressed herein. The Company understands that the Stock Consideration is “restricted
securities” under applicable U.S. federal and state securities laws and that, pursuant to these laws, the Company must hold the
Stock Consideration for a period of six months until the Stock Consideration is freely tradeable pursuant to Rule 144 promulgated pursuant
to the Securities Act. The Company acknowledges that the Company has no obligation to register the Stock Consideration for resale.

 

(c) The
Company is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities Act.

 

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(d) The
Company understands that the Stock Consideration may be notated with one or all of the following legends:

 

“THE SHARES REPRESENTED
HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN
CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH TRANSFER MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED
THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT
OF 1933.”

 

Plus, any legend required
by the securities laws of any state to the extent such laws are applicable to the Stock Consideration represented by the certificate,
instrument, or book entry so legended.

 

3.18. No
Other Representations and Warranties. Except for the representations and warranties contained in this Section 3 (including the related
portions of the Disclosure Schedules), neither Company nor any other Person has made or makes any other express or implied representation
or warranty, either written or oral, on behalf of the Company, including any representation or warranty as to the accuracy or completeness
of any information regarding the Business and the Assets furnished or made available to Buyer and its Representatives including management
presentations or in any other form in expectation of the Contemplated Transactions or as to the future revenue, profitability or success
of the Business, or any representation or warranty arising from statute or otherwise in law.

 

4. Representations
and Warranties of the Buyer.

 

The Buyer and Parent each
represent and warrant, severally, to the Company as of the date hereof and the Closing Date (unless the particular statement speaks expressly
as of a particular date, in which case it is true and correct only as of such date) as follows (in each case, except where context implies
otherwise, with respect to the Company and its Affiliates) as follows

 

4.1. Organization.
The Buyer and Parent are each (a) a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction
of its organization and (b) duly qualified or licensed to do business and is in good standing in each jurisdiction where the character
of the properties owned, leased or licensed by it or the nature of its business makes such qualification, licensing or good standing necessary,
except where the failure to be so qualified or licensed or in good standing has not had, and would not reasonably be expected to materially
impair or delay the Buyer’s ability to consummate the Contemplated Transactions. The Buyer is a wholly-owned subsidiary of the Parent.
Parent is classified as a corporation for United States tax purposes.

 

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4.2. Authorization.
Each of Buyer and the Parent has the corporate power and authority to execute and deliver this Agreement, the Escrow Agreement and the
instruments required to be executed and delivered by it pursuant hereto, to perform its obligations hereunder, to issue the Stock Consideration,
and to consummate the Contemplated Transactions. Each of the Buyer and the Parent has taken all corporate actions or proceedings required
to be taken by or on the part of the Buyer and the Parent to authorize and permit the execution and delivery by the Buyer and the Parent
of this Agreement, the Escrow Agreement and the instruments required to be executed and delivered by it pursuant hereto and the performance
by each of the Buyer and the Parent of its respective obligations hereunder and the consummation by the Buyer and the Parent of the contemplated
transactions, including issuance of the Stock Consideration. This Agreement has been (or in the case of the Escrow Agreement, will be)
duly executed and delivered by each of the Buyer the Parent, and assuming the due authorization, execution and delivery by each of the
other parties hereto or thereto, constitutes (or will constitute) the legal, valid and binding obligation of each of the Buyer and the
Parent, enforceable against the Buyer and the Parent in accordance with its terms.

 

4.3. No
Violation or Approval; Consents. Except as set forth in Schedule 3.3, neither the execution and delivery of or its performance
of its obligations under this Agreement by the Buyer or the Parent nor either of its consummation of the Contemplated Transactions will:

 

4.3.1. require
any consent, waiver, approval, clearance, permit, order or authorization of or from, or registration, declaration, notice or filing to
or with any Governmental Authority with respect to the Buyer or the Parent;

 

4.3.2. not
(1) except as set forth in Schedule 4.3.2, result in a breach of, constitute (with or without due notice or lapse of time or both)
a default under, result in the acceleration of obligations under, create in any Person the right to accelerate, terminate, modify or cancel,
or require any notice, consent or waiver under, any contract, lease, sublease, license, sublicense, franchise, permit, indenture, agreement
or mortgage for borrowed money, instrument of indebtedness, Lien (other than Permitted Liens) or other arrangement to which the Buyer
or the Parent is a party or by which the Buyer or the Parent is bound or to which its assets are subject, or (3) result in the imposition
of any Lien (other than Permitted Liens); or

 

4.3.3. result
in a material breach or violation of, or material default under, the Organizational Documents of the Buyer or the Parent.

 

4.4. Valid
Issuance of Stock Consideration. The Stock Consideration, when issued and delivered in accordance with the terms and for the consideration
set forth in this Agreement (including upon delivery to the Escrow Agent), will be validly issued and outstanding, fully paid and nonassessable
and free of restrictions on transfer other than restrictions on transfer under this Agreement, applicable state and federal securities
laws and liens or encumbrances created by or imposed by the Company. Assuming the accuracy of the representations of the Company in Section
4 of this Agreement, the Stock Consideration will be issued in compliance with all applicable federal and state securities laws.

 

4.5. Litigation.
There is no Action pending or, to the knowledge of the Buyer and Parent, threatened against the Buyer, the Parent or any of their Affiliates
or any of their properties, asserts or business, that would prevent Buyer from (a) executing and delivering this Agreement, or (b) performing
Buyer’s or Parent’s obligations pursuant to, or observing any of the terms and provisions of, this Agreement.

 

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4.6. Brokers.
There are no brokerage commissions, finders’ fees or similar compensation payable in connection with the Contemplated Transactions
based on any arrangement or agreement made by or on behalf of the Buyer or any of its Affiliates other than fees (if any) that will be
paid by the Buyer or its Affiliates and for which the Company and its Affiliates will have no responsibility to pay.

 

4.7 Intended
Tax Treatment. Neither Parent, Buyer nor any of their respective Affiliates has taken or agreed to take any action, and there exists
no fact or circumstance among Parent, Buyer, and their respective Affiliates that is reasonably likely to prevent or impede the consummation
of the transactions contemplated hereby from qualifying as a “reorganization” within the meaning of Section 368(a)(1)(C) of
the Code.

 

4.8 Buyer;
Stock Consideration. Buyer is a direct, wholly-owned Subsidiary of Parent. The Closing Stock Consideration and the Earnout (if any)
received by the Company consists and will consist solely of Parent’s ordinary shares that entitle the holders to vote on Parent’s
board of directors.

 

4.9 Independent
Investigation. Buyer and the Parent have conducted their own independent investigation, review and analysis of the Business and the
Assets, and acknowledge that each has been provided adequate access to the personnel, properties, assets, premises, books and records,
and other documents and data of the Company for such purpose. The Buyer and Parent each acknowledges and agrees that: (a) in making its
decision to enter into this Agreement and to consummate the transactions contemplated hereby, each has relied solely upon its own investigation
and the express representations and warranties of the Company set forth in Section 3 of this Agreement (including related portions of
the Disclosure Schedules); and (b) neither Company nor any other Person has made any representation or warranty as to the Company, the
Business, the Assets or this Agreement, except as expressly set forth in Section 3 of this Agreement (including the related portions of
the Disclosure Schedules).

 

5. Conditions
Precedent to the Obligations of the Buyer.

 

The obligation of the Buyer
to consummate the Closing is subject to the satisfaction or waiver on or prior to the Closing Date of each of the following conditions:

 

5.1. Representations
and Warranties. (i) The Company Fundamental Representations and the representations set forth in clause (b) of Section 3.6
shall be true and correct in all respects at and as of the date hereof and the Closing Date with the same effect as though made at and
as of such date and (ii) the representations and warranties of the Company in this Agreement and any certificate or other writing
delivered pursuant hereto other than the Company Fundamental Representations shall be true and correct at and as of the date hereof and
the Closing Date with the same effect as though made at and as of such date, except, in the case of this clause (ii), where the failure
to be true and correct would not reasonably be expected to have a Material Adverse Effect (without giving effect to “material,”
“in all material respects,” “Material Adverse Effect” or similar phrases in the representations and warranties
that limit the representations and warranties); provided, however, that, with respect to clauses (i) and (ii) above,
representations and warranties that are made as of a particular date or period will be true and correct (in the manner set forth in clauses (i)
or (ii), as applicable) only as of such date or period.

 

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5.2. Performance
of Obligations. The Company (including its Subsidiaries) will have complied with and performed in all material respects all covenants
and agreements required by this Agreement to be complied with or performed by the Company (including its Subsidiaries), respectively,
at or prior to the Closing.

 

5.3. Compliance
Certificate. The Company will have delivered to the Buyer a certificate dated as of the Closing Date, executed by an officer of the
Company, to the effect that each of the conditions specified above in Sections 5.1 and 5.2 has been satisfied.

 

5.4. Injunctions.
No Governmental Authority will have enacted, issued or promulgated any Legal Requirement (whether temporary, preliminary or permanent)
that remains in effect and that enjoins, makes illegal or otherwise prohibits the consummation of the Contemplated Transactions.

 

5.5. Escrow
Agreement. The Buyer will have received a copy of the Escrow Agreement, duly executed and delivered by the Company and the Escrow
Agent.

 

5.6. Personnel.
Michael Averbach and Sergey Fradkov shall have executed employment agreements with the Buyer for a term of not less than one year post-Closing
Date.

 

5.7. Secretary’s
Certificate. The Company will have delivered to the Buyer a certificate of the Secretary of the Company, dated as of the Closing Date,
certifying as to and attaching (a) copies of resolutions duly adopted by the Board of Directors or Managers of the Company authorizing
the execution, delivery and performance of this Agreement and the other agreements contemplated hereby, and the consummation of the Contemplated
Transactions, including a certification that such resolutions shall not have been modified or rescinded as of the Closing Date, (b) the
certificate of formation (or equivalent other governing document) of the Company and each of its Subsidiaries certified by the Secretary
of State or similar Governmental Authority in its jurisdiction of organization, (c) the good standing of the Company and its Subsidiaries
in their respective jurisdictions of organization, including copies of good standing certificates (or equivalent documents) issued within
five (5) Business Days of the Closing Date by the Secretary of State or similar Governmental Authority in its jurisdiction of organization.

 

5.8. Consents.
All actions, approvals, consents and waivers that are listed in Schedule 5.8 shall have been taken or obtained, as applicable,
and evidence thereof shall have been delivered by the Company to the Buyer, in each case in a form and substance reasonably acceptable
to the Buyer.

 

5.9. Non-competition
Agreements. The Non-competition Agreements shall be in effect and not have been repudiated.

 

5.10. USARAD
Stock Purchase Agreement. The Stock Purchase Agreement by and among the Buyer, the Parent, USARAD Holding., Inc. and the other parties
named therein, dated as of October 2021, shall have closed.

 

5.11. Assets.
The Assets shall be free from any Lien, other than Permitted Liens, and freely transferable other than Permitted Liens.

 

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6. Conditions
Precedent to Obligations of the Company.

 

The obligation of the Company
to consummate the Closing is subject to the satisfaction or waiver on or prior to the Closing Date of each of the following conditions:

 

6.1. Representations
and Warranties. (i) The Buyer Fundamental Representations shall be true and correct in all respects at and as of the date hereof
and the Closing Date with the same effect as though made at and as of such date and (ii) the representations and warranties of the
Buyer and the Parent in this Agreement and any certificate or other writing delivered pursuant hereto other than those set forth in clause (i)
above shall be true and correct at and as of the date hereof and the Closing Date with the same effect as though made at and as of such
date, except, in the case of this clause (ii), where the failure to be true and correct would not reasonably be expected to have
a material adverse effect on the Buyer’s ability to consummate the Closing (without giving effect to materiality, material adverse
effect or similar phrases in the representations and warranties that limit such representations and warranties); provided, however,
that, with respect to clauses (i) and (ii) above, representations and warranties that are made as of a particular date or period
will be true and correct (in the manner set forth in clauses (i) or (ii), as applicable) only as of such date or period.

 

6.2. Performance
of Obligations. The Buyer will have complied with and performed in all material respects all covenants and agreements required by
this Agreement to be complied with or performed by the Buyer at or prior to the Closing.

 

6.3. Compliance
Certificate. The Buyer will have delivered to the Company a certificate of the Buyer dated as of the Closing Date to the effect that
each of the conditions specified above in Sections 6.1 and 6.2 has been satisfied.

 

6.4. Injunctions.
No Governmental Authority will have enacted, issued or promulgated any Legal Requirement or Governmental Order (whether temporary, preliminary
or permanent) that remains in effect and that enjoins, makes illegal or otherwise prohibits the consummation of the Contemplated Transactions.

 

6.5. Escrow
Agreement. The Company will have received a copy of the Escrow Agreement, duly executed by the Buyer, the Parent and the Escrow Agent.

 

6.6 Secretary’s
Certificate of Buyer. The Buyer will have delivered to the Company a certificate of the Secretary of the Buyer, dated as of the Closing
Date, certifying as to and attaching (a) copies of resolutions duly adopted by the Board of Directors or Managers of the Buyer authorizing
the execution, delivery and performance of this Agreement and the other agreements contemplated hereby, and the consummation of the Contemplated
Transactions, and including a certification that such resolutions shall not have been modified or rescinded as of the Closing Date, (b)
the certificate of formation (or equivalent other governing document) of the Buyer and each of its Subsidiaries certified by the Secretary
of State or similar Governmental Authority in its jurisdiction of organization, (c) the good standing of the Buyer in its jurisdiction
of organization, including copies of the good standing certificate (or equivalent documents) issued within five (5) Business Days of the
Closing Date by the Secretary of State or similar Governmental Authority in its jurisdiction of organization.

 

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6.7 Secretary’s
Certificate of the Parent. The Parent will have delivered to the Company a certificate of the Secretary of the Parent, dated as of
the Closing Date, certifying as to and attaching (a) copies of resolutions duly adopted by the Board of Directors or Managers of the Parent
authorizing the execution, delivery and performance of this Agreement and the other agreements contemplated hereby, and the consummation
of the Contemplated Transactions, including the issuance of the Stock Consideration, and including a certification that such resolutions
shall not have been modified or rescinded as of the Closing Date, (b) the certificate of formation (or equivalent other governing document)
of the Parent certified by the Secretary of State or similar Governmental Authority in its jurisdiction of organization, (c) the good
standing of the Parent in its jurisdiction of organization, including copies of the good standing certificate (or equivalent documents)
issued within five (5) Business Days of the Closing Date by the Secretary of State or similar Governmental Authority in its jurisdiction
of organization.

 

7. Covenants
of the Parties.

 

7.1. Conduct
of Business Prior to Closing. From the date hereof until the Closing, the Company shall conduct its business in the ordinary course
consistent with past practice. Without limiting the generality of the foregoing, from the date hereof until the Closing Date, and except
as (i) expressly contemplated by this Agreement, (ii) required by Legal Requirement, or (iii) otherwise consented to in writing in advance
by Buyer (which consent shall not be unreasonably withheld, conditioned or delayed),

 

7.1.1. the
Company shall, and shall cause its Subsidiaries to:

 

(a) (A)
pay all of its debts and Taxes when due, except to the extent such debts or Taxes are being contested in good faith by appropriate proceedings,
and for which adequate reserves have been established, (B) pay or perform its other obligations when due, and (C) use commercially reasonable
efforts consistent with past practice to (1) preserve intact its present business organization, (2) keep available the services of its
present officers and key employees, and (3) preserve its relationships with customers, suppliers, licensors, licensees, and others having
business dealings with it;

 

(b) notify
Buyer of any change, occurrence or event not in the ordinary course of business of the Company, and of any change, occurrence or event
which, individually or in the aggregate with any other changes, occurrences and events, could reasonably be expected to have a Material
Adverse Effect or which is reasonably likely to cause any of the conditions in Article 5 and Article 6 not to be satisfied;
and

 

7.1.2. the
Company shall not, and shall not permit its Subsidiaries to:

 

(a) adopt
or propose any change in the Organizational Documents;

 

(b) merge,
combine or consolidate with any other Person or acquire any amount of assets of any other Person (except for acquisitions of supplies
in the ordinary course of business consistent with past practices), subject to Section 7.3;

 

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(c) settle,
release, assign, or compromise any Action relating to an Asset, whether now pending or hereafter made or brought;

 

(d) commence
any Action against any Person relating to an Asset other than in such cases where it in good faith determines that failure to commence
an Action would result in the material impairment of a valuable aspect of the Asset, as long as the Company consults with Buyer before
the filing of such Action;

 

(e) sell,
assign, lease, license, transfer, abandon or otherwise dispose of, or mortgage, pledge or encumber any of the Assets, other than pursuant
to non-exclusive licenses to Company Intellectual Property entered into in the ordinary course of business pursuant to the sale of Company
products or services;

 

(f) (A)
amend or modify in any material respect in a manner adverse to the Company or any of its Subsidiaries, or assign or consent to the termination
of, any contract that is an Assumed Liability, or (B) except for a new contract with a customer or potential customer entered into in
the ordinary course of business, enter into any new agreement which would be considered a material Contract if it had been entered into
prior to the date of this Agreement;

 

(g) fail
to maintain insurance in at least such amounts and against at least such risks and losses as are consistent in all material respects with
the Company’s current practices, reduce the amount or scope of any coverage provided by existing insurance policies, permit any
existing insurance policy to lapse without being replaced by a commensurate insurance policy or reduce the amount or scope of indemnity
bonds issued at the request or for the benefit of the Company;

 

(h) make
or change any election in respect of Taxes, file any amendment to a Tax Return, enter into any closing agreement in respect of Taxes,
settle any claim or assessment in respect of Taxes, or consent to any extension or waiver of the limitation period applicable to any claim
or assessment in respect of Taxes;

 

(i) make
any change in accounting practices or policies from those utilized in the preparation of the Financial Statements, make any change in
its invoicing practices, write off, write down or make any determination to write off or write down any of its assets; or make any material
change in its credit or allowance practices or policies; or

 

(j) agree or
commit to do any of the foregoing. Notwithstanding the foregoing, the Company shall be permitted, after the date of this Agreement
and prior to Closing, to (x) make all required payments on Indebtedness and (y) utilize unrestricted cash to pay obligations of the
Company in the ordinary course of business prior to the Closing.

 

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7.2. Confidentiality;
Announcements.

 

7.2.1. The
Confidentiality Agreement shall continue in full force and effect in accordance with its terms.

 

7.2.2. The
parties hereto will not, and will cause their Representatives not to, issue or cause the publication of any press release or other public
announcement or make any disclosure to any Person regarding (a) this Agreement, the Disclosure Schedule, the Contemplated Transactions,
or any discussions, memoranda, letters or agreements related to this Agreement or thereto, including any announcement to customers, suppliers
or other third parties having dealings with the Company, (b) the existence or terms of this Agreement or the Contemplated Transactions;
(c) the existence of discussions and negotiations between or among Buyer, the Company, or any of the respective Representatives of
Buyer or the Company; (d) the consummation of the Contemplated Transactions or (e) information about the business, properties,
financial condition or operations of the other parties hereto, in the case of each of clauses (a)–(e) without prior approval of
the other parties, except to the extent (x) disclosure is required by a party to its Tax, financial, legal or other professional
advisors or, if applicable, spouse, subject to a duty of confidentiality, for purposes of complying with such Company’s Tax obligations
or other reporting obligations under Legal Requirements arising out of the Contemplated Transactions, or (y) disclosure is made by
the Company to its legal counsel, subject to a duty of confidentiality.

 

7.2.3. After
the Closing Date, the Company agrees and agrees to cause its Representatives to treat any and all Proprietary Information included in
the Assets as confidential and not disclose or make it available to any Person unless it is or has been:

 

(a) obtained
legally and freely from a third party without restriction as to the disclosure of such information;

 

(b) made
public as required by applicable Legal Requirements; or

 

(c) within
the public domain or later becomes part of the public domain as a result of acts by someone other than the Company or any Representative
of the Company.

 

7.2.4. To
the extent obliged to treat such Proprietary Information as confidential, the Company shall use the same degree of care as it uses with
regard to its own proprietary information to prevent disclosure, use, or publication of the Proprietary Information.

 

7.2.5. In
the event that the Company or any of their respective Representatives becomes legally compelled to disclose any such Proprietary Information
other than as permitted by Section 7.2.3, the Company shall provide Buyer with prompt written notice of such requirement so
that Buyer may seek a protective order or other remedy or waive compliance with Section 7.2.3, and in the event that such
protective order or other remedy is not obtained, or Buyer waives compliance with Section 7.2.3, furnish only that portion
of such Proprietary Information that is legally required to be provided and exercise its commercially reasonable efforts to obtain assurances
that confidential treatment will be accorded such Proprietary Information.

 

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7.3. No
Solicitation.

 

7.3.1. From
the date hereof until the earlier of the termination of this Agreement pursuant to its terms and the Closing Date, the Company will not
directly or indirectly:

 

(a) solicit,
initiate, knowingly encourage, facilitate or support any inquiry, proposal or offer with respect to, or the making, announcement, submission
or completion of any Acquisition Transaction;

 

(b) participate
or engage in any discussions or negotiations with, or furnish or disclose any non-public information relating to the Company, or otherwise
cooperate with, facilitate or assist any Person in connection with an Acquisition Transaction;

 

(c) approve,
endorse or recommend any Acquisition Transaction;

 

(d) enter
into any letter of intent, agreement in principle, merger agreement, acquisition agreement, option agreement or other similar agreement
relating to an Acquisition Transaction; or

 

(e) resolve,
propose or agree to do any of the foregoing.

 

7.3.2. Upon
execution of this Agreement, the Company will, and will cause its Representatives and Affiliates to, immediately cease and cause to be
terminated any existing direct or indirect discussions with any Person (other than Buyer) that relate to or are in respect of an
Acquisition Transaction.

 

7.3.3. From
the date hereof until the earlier of the termination of this Agreement pursuant to its terms and the Closing Date, the Company will, and
will cause its Representatives and Affiliates to, promptly (and in no event later than 48 hours after receipt thereof) notify Buyer
orally and in writing of any proposal, offer, inquiry or notice concerning an Acquisition Transaction or that would reasonably be expected
to lead to a proposal relating to any Acquisition Transaction, or any request for information from a Person in respect of an Acquisition
Transaction or that would reasonably be expected to lead to a proposal relating to any Acquisition Transaction (including the identity
of the Person making or submitting such proposal, offer or request, the material terms thereof and a copy of any written proposal, offer
or request) that is received by the Company, or any representative thereof. The Company will keep Buyer informed on a reasonably current
basis (and, in any event, within 48 hours) of the status and details of any material modifications to any such proposal, offer or
request.

 

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7.4. Preparation
for Closing.

 

7.4.1. Subject
to the terms and conditions hereof, each of the Company, the Buyer and the Parent agrees to use its reasonable best efforts to take, or
cause to be taken, all actions and to do, or cause to be done, all things necessary or desirable under applicable Legal Requirements to
consummate the Contemplated Transactions as promptly as practicable, including preparing and filing as promptly as practicable with the
applicable Governmental Authorities all documentation to effect all necessary filings, notices, petitions, statements, registrations,
submissions of information, applications, approvals and other documents necessary to consummate the Contemplated Transactions.

 

7.4.2. Each
of the Company, the Buyer and the Parent will cooperate with one another (a) in determining whether any actions, consents, approvals
or waivers are required to be obtained from third parties, including with respect to any contracts that are an Assumed Liability, in connection
with the consummation of the Contemplated Transactions and (b) in taking such actions, furnishing documents and information required
in connection therewith and seeking to obtain in a timely manner any such actions, consents, approvals or waivers; provided, that (i)
nothing in this Agreement will obligate or be construed to obligate the Company to make or cause to be made any payment or concession
to any third party in order to obtain any such action, consent, approval or waiver under any Assigned Contract and (ii) the obtaining
of any such action, consent, approval or waiver shall not be a condition to any party’s obligation to consummate the Closing, except
as provided in Section 5.8.

 

7.5. Tax
Matters.

 

7.5.1. Transfer
Taxes. The Buyer shall bear Liability for all Transfer Taxes in connection with the Contemplated Transactions, and shall file all
necessary Tax Returns and other documentation with respect to such Transfer Taxes. If required by applicable Law, the Company will join
in the execution of and/or file any such Tax Returns and other documentation.

 

7.5.2. Forms
W-9 or W-8. In connection with the requirements under the Escrow Agreement, prior to Closing, the Company will provide to Buyer and
the Escrow Agent completed and executed Internal Revenue Service Form W-9 or Form W-8, as applicable. Notwithstanding anything herein
to the contrary, the failure of the Company to provide a completed W-9 or W-8, if applicable, shall entitle the Escrow Agent and Buyer
to withhold any payments to be made to the Company until the completed W-9 or W-8 is provided.

 

7.6. Notification.
From the date hereof until the Closing Date, the Company may disclose to the Buyer in writing (in the form of updated Disclosure Schedules)
(the “Schedules Notice”) any development, fact or circumstance, solely to the extent arising after the date hereof,
causing a breach of any of the representations and warranties contained in Section 3 hereof. Such Schedules Notice shall amend
and supplement the appropriate Disclosure Schedules delivered on the date hereof and attached hereto; provided that (A) if the
condition set forth in Section 5.1 would not be satisfied if the Disclosure Schedule were not so amended and supplemented,
then the Buyer will have the right to terminate this Agreement by providing written notice of such termination to the Company, and (B)
no information or Schedules Notice provided under this Section 7.6 will, or will be deemed to, limit or modify or otherwise affect
any representation or warranty contained herein.

 

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7.7. Share
Lock-Up and Sale Restrictions.

 

(a) The
Company shall be subject to the minimum lock-up and resale restrictions, according to Nasdaq rules and regulations and applicable U.S.
securities laws.

 

(b) The
Company shall not use any non-public information of Buyer or the Parent which has been received in connection with this Agreement to purchase,
sell, make any short sale of, loan, grant any option for the purchase of, or otherwise transfer, dispose of any securities of the Parent.

 

(c) The
Buyer and the Parent shall undertake the actions required to (i) cause the Parent to comply with all reporting requirements of the Securities
Exchange Act of 1934 and any other requirements in order for the Stock Consideration to become freely tradeable pursuant to Rule 144 promulgated
pursuant to the Securities Act and (ii) cause the transfer agent of the Parent’s stock to remove the restricted stock legend on
the Stock Consideration so that the Stock Consideration becomes freely tradeable by the Company at such time as permitted under Rule 144.
The Buyer and the Parent shall bear all the costs related to the requirements of this Section 7.7(c).

 

7.8. SBA
Loan. Company agrees that within six months following the Closing, it (i) will replace the collateral on the lien in favor of the
SBA (including through amendment or repayment in full of the relevant loan and security agreements), with collateral that is not an Asset
or Assigned Contract and (ii) will ensure that the existing UCC-1 filed by the SBA with the State of New York showing the Company as Debtor
is terminated or amended to remove as collateral all Assets or Assigned Contracts.

 

7.9. Further
Assurances. Each of the Company, the Buyer and the Parent, upon the request of the other from time to time after the Closing, and
at the expense of the requesting party but without further consideration, shall sign such documents and take such actions as may be necessary
or otherwise reasonably requested to effect, or make more fully effective, the consummation of the Contemplated Transactions.

 

7.9 Dividends;
Voting Rights. In respect of the portion of the Closing Stock Consideration consisting of the Escrow Amount (such portion, the “Escrowed
Shares”), each of the Company, Buyer and Parent covenants and agrees that, at all times while the Escrowed Shares are held by
the Escrow Agent (a) all dividends declared on the Escrowed Shares shall be distributed currently to the Company (or its designee(s));
and (b) all voting rights in respect of the Escrowed Shares shall be exercisable by or on behalf of the Company (or its designee(s)).
Upon any Escrow Shares being returned to Parent in accordance with this Agreement and the Escrow Agreement, respectively, neither the
Company nor any of its designees, shareholders, successors, or assigns shall have any further rights in respect of such Escrow Shares.

 

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8. Indemnification

 

8.1. Survival.
Except as set forth in this Section ‎ 8.1, the representations and warranties of the parties
contained in this Agreement or in the certificate delivered pursuant to Section 5.3 or Section 6.3, and the covenants
and agreements of the parties hereto to the extent they, by their terms, contemplate or provide for performance prior to the Closing,
shall survive the Closing until the date that is twelve (12) months after the Closing Date (the “Escrow Termination Date”),
except that the Company Fundamental Representations and the Buyer Fundamental Representations shall survive the Closing until the sixth
(6th) anniversary of the Closing Date. The other covenants and agreements of the parties contained in this Agreement, or in
any certificate or other writing delivered pursuant hereto or in connection herewith, shall survive the Closing in accordance with their
terms. If an Indemnified Party delivers, before the expiration of the applicable survival period described in this Section 8.1,
a Claim Notice to the Indemnifying Party asserting a Liability Claim for a breach of a representation or warranty or covenant or agreement
made by or on behalf of the Indemnifying Party in or pursuant to this Agreement, then the representation, warranty or covenant will survive
the expiration of the applicable survival period described in this Section ‎8.1 and remain
in full force and effect with respect to such Liability Claim until the final resolution thereof. No Liability Claim may be made seeking
indemnification for breaches of any representations, warranties, covenants or agreements pursuant to this Section 8 unless
a Claim Notice in respect of such Liability Claim is provided to the applicable Indemnifying Party in accordance with this Section 8
prior to the expiration of the applicable survival period described in this Section ‎8.1.

 

8.2. Indemnity
by the Company.

 

8.2.1. From
and after the Closing, subject to the provisions of this Section 8, the Company shall indemnify the Buyer and each of its
Affiliates and each of their respective Representatives, successors and assigns (collectively, the “Buyer Indemnified Parties”)
and hold them harmless from and against any and all Losses suffered or incurred by the Buyer Indemnified Parties to the extent arising
from:

 

(a) any
breach of any of the representations and warranties of the Company in Section ‎3 as of
the date hereof or as of the Closing Date as if such representation and warranty were made on such date (unless the representation or
warranty states that it is made only as of a specified date, in which case, as of the specified date);

 

(b) any
breach, or any failure to perform, any covenant or agreement in this Agreement (or in any certificate or other writing delivered by or
on behalf of the Company pursuant hereto) that is required by its terms to be complied with or performed by the Company or any of its
Subsidiaries prior to or at the Closing;

 

(c) any
amount by which the Post-Closing Reduction Amount exceeds the Escrow Amount, which shall be compensated in accordance with the terms of
Section 2.7.5(a) hereof; or

 

(d) defending
any Third-Party Claim alleging the occurrence of facts or circumstances that, if true, regardless of the outcome of such defense, would
entitle a Buyer Indemnified Party to indemnification pursuant to the other provisions of this Section ‎8.1.

 

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8.2.2. Limitations
on Indemnification by Company.

 

(a) Except
with respect to any claims for indemnification for breach of any Company Fundamental Representation or fraud, the Buyer Indemnified Parties
will not be entitled to indemnification under Section 8.2.1(a) or Section 8.2.1(d) unless and until (i) with respect
to any individual item of Loss, such item is greater than $50,000 or until the aggregate items of Loss are greater than $75,000 (any individual
items of Loss that are less than or equal to $50,000 or aggregate items of Loss less than or equal to than $75,000 being “Minor
Claims”) and (ii) the item of Loss is in excess of the remaining Escrow Amount, provided, however, that the Buyer
shall also be entitled to set off and holdback any Losses that are reasonably determined by the mutual agreement of the Buyer and the
Company, with the agreement of MDW not to be unreasonably withheld or delayed, to be indemnifiable Losses from any Earn Out that Buyer
would otherwise be obligated to pay under this Agreement.

 

(b) The
maximum aggregate amount of indemnifiable Losses that may be recovered by the Buyer Indemnified Parties from the Company shall be equal to the Purchase Price, provided, however, that the Buyer shall also
be entitled to set off and holdback any Losses that are reasonably determined by the mutual agreement of the Buyer and the Company, with
the agreement of MDW not to be unreasonably withheld or delayed, to be indemnifiable Losses from any Earn Out that Buyer would otherwise
be obligated to pay under this Agreement.

 

8.2.3. Notwithstanding
anything to the contrary contained in this Agreement (including the foregoing limitations and Section 8.12), nothing in this Agreement
will (a) prevent any Buyer Indemnified Party from bringing any Action based upon the fraud or willful misconduct of any Person, or (b)
limit the Losses recoverable by a Buyer Indemnified Party for an Action based upon fraud.

 

8.3. Indemnity
by the Buyer and the Parent. From and after the Closing, subject to the provisions of this Section 8, the Buyer and the
Parent shall jointly and severally indemnify the Company and each of its Affiliates and each of their respective Representatives, successors
and assigns (collectively, the “Company Indemnified Parties”) and hold them harmless from and against any and all Losses
suffered or incurred by the Company Indemnified Parties to the extent arising from:

 

(a) any
breach of any of the representations and warranties of the Buyer or the Parent in Section 4 as of the date hereof or as of the
Closing Date as if such representation and warranty were made on such date (unless the representation or warranty states that it is made
only as of a specified date, in which case, as of the specified date);

 

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(b) any
breach, or any failure to perform, any covenant or agreement in this Agreement (or in any certificate or other writing delivered by or
on behalf of the Buyer pursuant hereto) that is required by its terms to be complied with or performed by the Buyer or any of its Affiliates
prior to or at the Closing;

 

(c) any
amount owed by Buyer to the Company (i) pursuant to Section 2.7.5(b) and (ii) with respect to any Transfer Taxes for which the Buyer is
responsible in accordance with Section ‎7.5.1.1; or

 

(d) defending
any Third-Party Claim alleging the occurrence of facts or circumstances that, if true, regardless of the outcome of such defense, would
entitle a Company Indemnified Party to indemnification pursuant to the other provisions of this Section 8.3.

 

8.4. Notification
of Certain Claims.

 

8.4.1. If
an Indemnified Party desires to make a Liability Claim, then the Buyer (if such Indemnified Party is a Buyer Indemnified Party) or the
Company (if such Indemnified Party is a Company Indemnified Party), as the case may be, will deliver to the Company or Buyer, respectively,
a notice (any such notice delivered in accordance with the provisions of this ‎Section ‎
8.4.1, a “Claim Notice”): (i) describing the Liability Claim in reasonable detail (based upon the information
then possessed by the Buyer or the Company, as the case may be); and (ii) indicating the amount (estimated, if necessary and to the extent
feasible) of the Loss that has been or may be paid, suffered, sustained or accrued by the Indemnified Party.

 

8.4.2. No
delay or failure in providing such Claim Notice will affect an Indemnified Party’s rights or remedies or an Indemnifying Party’s
obligations hereunder except to the extent that the Indemnifying Party is materially and adversely prejudiced thereby.

 

8.4.3. If
the Escrow Funds are available to satisfy the recovery of the claim asserted in such Claim Notice and have not been fully released from
the Escrow Account, at the time of delivery of any Claim Notice to the Company, a duplicate copy of such Claim Notice shall be delivered
to the Escrow Agent by or on behalf of the Buyer (on behalf of itself or any other Buyer Indemnified Party).

 

8.4.4. If
the Company or the Buyer, as the case may be, in good faith objects to any claim made in any Claim Notice, then the Company or the Buyer,
as the case may be, shall deliver a written notice (a “Claim Dispute Notice”) to the Buyer or the Company, as the case
may be, during the 30-day period commencing upon receipt by the Company or Buyer, as the case may be, of the Claim Notice. The Claim Dispute
Notice will set forth in reasonable detail the principal basis for the dispute of any claim made in the applicable Claim Notice. If the
Company or the Buyer, as the case may be, does not deliver a Claim Dispute Notice hereunder prior to the expiration of such 30-day period,
then such claim for indemnification set forth in such Claim Notice shall be deemed to have been conclusively determined in favor of the
Indemnified Party that delivered the Claim Notice for purposes of this Section ‎ 8 on
the terms set forth in the Claim Notice and the applicable Indemnified Party will be indemnified for the amount of Losses set forth in
the Claim Notice pursuant to this Section ‎‎ 8.

 

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8.4.5. If
a Claim Dispute Notice is properly delivered hereunder, then the Buyer and the Company will attempt in good faith to resolve any such
objections raised in such Claim Dispute Notice. If the Buyer and the Company agree to a resolution of such objection, then a memorandum
setting forth the matters conclusively determined by Buyer and the Company will be prepared and signed by both parties.

 

8.4.6. If
no such resolution can be reached during the 45-day period following receipt of a given Claim Dispute Notice hereunder, then upon the
expiration of such 45-day period, either the Buyer or the Company may bring suit to resolve the objection in accordance with ‎Section
‎ 10.9.

 

8.4.7. The
Buyer is the sole and exclusive Person authorized to act for, bring Liability Claims on behalf of, or deliver a Dispute Notice on behalf
of, the Buyer Indemnified Parties under this Agreement, and the Company is the sole and exclusive Person authorized to act for, bring
Liability Claims on behalf of, or deliver a Claim Dispute Notice on behalf of, the Company Indemnified Parties under this Agreement.

 

8.5. Calculation
of Losses. For purposes of determining the amount of any Losses subject to indemnification under this Section 8 (except
for indemnification pursuant to Section ‎8.2.1(c) or Section 8.3(c)), the amount
of such Losses will be determined net of (a) any amounts taken into account as liabilities or reserves in the calculation of the
Final Working Capital Amount or any other adjustments to the Purchase Price set forth in Section 2.77, and (b) the sum
of any amounts recovered under insurance policies providing coverage for such Losses (the “Insurance Policies”), net
of any actual out-of-pocket expenses incurred in collecting such amounts (“Insurance Proceeds”). In the event that
any Insurance Proceeds are received after payment for the related indemnification claim has been made pursuant to this Section 8,
then the Indemnified Party shall pay to the Company or the Buyer, as the case may be, an amount equal to the amount of the reduction in
Losses that would have been applied pursuant to the first sentence of this Section 8.5 had such Insurance Proceeds been received
at the time such indemnification claim was made. Each Indemnified Party shall use commercially reasonable efforts to make claims under
its applicable Insurance Policies. Notwithstanding anything herein to the contrary, no disputed matter that would result in a breach of
a representation, warranty, covenant or agreement herein that is the subject of a Liability Claim made pursuant to this Section 8
shall be raised to support any adjustment to Purchase Price pursuant to the terms of Section 2.7 in a manner that would circumvent
the monetary limitations set forth in this Section 8.

 

8.6. Matters
Involving Third Parties.

 

8.6.1. If
an Indemnified Party receives written notice of any Action that has been or may be brought or asserted by a third party against such Indemnified
Party and that may give rise to a Liability Claim under this Section ‎‎8 (each, a
“Third-Party Claim”), such Indemnified Party will, promptly after receipt of notice of any such Third-Party Claim,
notify the Company of such Third-Party Claim where the Buyer Indemnified Party is the subject of the Third-Party Claim and notify the
Buyer where a Company Indemnified Party is the subject of the Third-Party Claim, in each case by the delivery of a notice regarding the
same, which shall be deemed a Claim Notice. The failure of an Indemnified Party to so notify the Indemnifying Party of the commencement
of any such Third-Party Claim will not limit any party’s rights or relieve any party from Liability in connection therewith, except
to the extent that such failure materially and adversely affects the ability of the Indemnifying Party to defend its interests in such
Third-Party Claim (to the extent such Indemnifying Party has such right under this Agreement).

 

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8.6.2. In
the event of any Third-Party Claim, the Indemnifying Party, upon written notice to the Indemnified Party, will have the right in its sole
discretion to assume and control the defense of any such Third-Party Claim; provided that the Indemnified Party and its counsel (at the
Indemnified Party’s sole expense) may participate in (but not control the conduct of) the defense of such Claim unless such participation
would adversely affect any privilege of the Indemnified Party in respect of such Third-Party Claim. The Indemnifying Party will have the
right, in its sole discretion, to settle any Third-Party Claim, but no settlement of any such Third-Party Claim with third party claimants
will be determinative of the amount of Losses relating to such matter unless the Indemnified Party consents to such settlement. In the
event that the Indemnified Party has consented to any such settlement, the Indemnified Party will have no power or authority to object
under any provision of this ‎Section ‎8 to the
amount of Losses with respect to such settlement.

 

8.6.3. If
the Indemnifying Party does not elect to control the defense of a Third-Party Claim in accordance with ‎Section
8.6.2, the Indemnified Party will assume control of the defense of the Third-Party Claim with counsel reasonably satisfactory to the
Indemnifying Party. In such event, the Indemnifying Party will be given the opportunity to participate at its own cost in, but not direct
or conduct, any defense of such Third-Party Claim, unless such participation would adversely affect any privilege of the Indemnified Party
in respect of such Third-Party Claim. The Indemnified Party will not settle any such Third-Party Claim without the consent of the Indemnifying
Party unless such settlement (i) provides solely for the payment of money in an amount that is less than the remaining Escrow Funds that
are not subject to any other Liability Claim, (ii) provides for a full release of the Indemnifying Party involved in such Third-Party
Claim and (iii) does not involve any admission by any Indemnifying Party of breach, violation or wrongdoing or involve any future covenants
of an Indemnifying Party, other than covenants of confidentiality relating to the terms of such settlement.

 

8.6.4. If
requested by the Buyer or the Company, as applicable, the other party will enter into a separate confidentiality or joint defense agreement
prior to participating in the defense of any Third-Party Claim.

 

8.6.5. The
party controlling the defense of a Third-Party Claim will (i) keep the non-controlling party reasonably advised of the status of such
Third-Party Claim and the defense thereof and will consider in good faith recommendations made by the non-controlling party with respect
thereto and (ii) make available to the non-controlling party any documents or materials in its possession or control that may be necessary
to understand the defense of such claim (subject to confidentiality obligations and the protection of the attorney-client privilege).
The non-controlling party will furnish the controlling party with such information as it may have with respect to such Third-Party Claim
(including copies of any summons, complaints or other proceedings which may have been served on such party and any written claim, demand,
invoice, billing or other document evidencing or asserting the same) and will otherwise reasonably cooperate with and assist the controlling
party in the defense of such Third-Party Claim.

 

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8.7. Materiality.
For purposes of this Section ‎8, and the determination of whether any representation,
warranty, covenant or agreement of a Person under this Agreement has been breached, and the calculation of any Losses suffered by the
other Person on account of such breach hereunder, each such representation, warranty, covenant or agreement qualified by words or phrases
such as “material,” “in all material respects” or “Material Adverse Effect” or any similar term shall
be read as if such qualification did not exist, except for Section 3.6.

 

8.8. Reserved.

 

8.9. Investigation.
The right to indemnification or any other remedy based on representations, warranties, covenants and agreements in this Agreement, or
any other document, certificate or other instrument required to be executed or delivered by any party under this Agreement will not be
affected by any investigation conducted (or capable of being conducted) by any Buyer Indemnified Party, Company Indemnified Party or any
other Person at any time, or any knowledge acquired (or capable of being acquired) by any Buyer Indemnified Party, Company Indemnified
Party or any other Person at any time, whether before or after the execution and delivery of this Agreement or the Closing, with respect
to the accuracy or inaccuracy of, or compliance with, any such representation, warranty, covenant or agreement, provided, however, that
the foregoing provision in no way affects the determination as to whether a breach occurred giving rise to an indemnification claim hereunder.
The waiver of any condition to Closing based upon the accuracy of any representation or warranty, or on the performance of or compliance
with any covenant or agreement, will not affect the right to indemnification or other remedy based on such representations, warranties,
covenants and agreements.

 

8.10. Escrow.
Escrow Amount shall be held by the Escrow Agent in the Escrow Account until released in accordance with Section ‎2.7
and this Section 8 and the Escrow Agreement. From and after the Closing, the Escrow Amount will be available to compensate
the Buyer Indemnified Parties for Losses in accordance with this Section 8 and the Escrow Agreement. The Escrow Agreement
shall provide that following the Escrow Termination Date, the Escrow Agent shall release to the Company the remainder of the Escrow Funds,
other than such portion of the Escrow Funds as may be reasonably necessary as determined by the mutual agreement of the Buyer and the
Company, with the agreement of MDW not to be unreasonably withheld or delayed, to satisfy any unresolved or unsatisfied Liability Claims
specified in any Claim Notice delivered by the Buyer to the Company before the Escrow Termination Date (which will remain in the Escrow
Account, until such claims have been resolved or satisfied). In the event of a conflict between the Escrow Agreement and this Agreement,
the terms of this Agreement shall govern. The fees, costs and expenses of the Escrow Agent shall be paid 100% by the Buyer.

 

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8.11. Intentionally
Omitted.

 

8.12. Acknowledgement
by the Buyer.

 

THE REPRESENTATIONS AND WARRANTIES
BY THE COMPANY SET FORTH IN SECTION 3 OF THIS AGREEMENT CONSTITUTE THE SOLE AND EXCLUSIVE REPRESENTATIONS AND WARRANTIES OF THE
COMPANY TO THE BUYER IN CONNECTION WITH THIS AGREEMENT OR THE CONTEMPLATED TRANSACTIONS, WHETHER IN WRITING, ORALLY OR OTHERWISE, AND
THE BUYER UNDERSTANDS, ACKNOWLEDGES AND AGREES THAT ALL OTHER REPRESENTATIONS AND WARRANTIES OF ANY KIND OR NATURE, EXPRESS OR IMPLIED
(INCLUDING ANY RELATING TO THE FUTURE OR HISTORICAL FINANCIAL CONDITION, RESULTS OF OPERATIONS, ASSETS OR LIABILITIES OF THE COMPANY OR
THE ACCURACY AND COMPLETENESS OF ANY INFORMATION SUPPLIED RELATING TO THE COMPANY), ARE SPECIFICALLY DISCLAIMED BY THE COMPANY AND ARE
NOT BEING RELIED UPON BY THE BUYER OR ANY OF ITS REPRESENTATIVES OR AFFILIATES.

 

8.13. Manner
of Payment. The Buyer Indemnified Party’s right under this Agreement to recover Losses arising out of the matters set forth
in Section 8.2.1, subject in each case to the limitations in this Section 8, will be from the following sources:

 

8.13.1. For
Losses under Section ‎8.2.1(a), from the Escrow Funds, subject to Section ‎8.13.2;

 

8.13.2. For
Losses under Section 8.2.1(a) arising from breaches of representations and warranties of the Company that constitute Company Fundamental
Representations,

 

(a) first,
from the Escrow Funds;

 

(b) second,
from the Earn Out; and

 

(c) third,
directly from the Company.

 

8.13.3. For
Losses under Sections 8.2.1(b) – (d)‎, inclusive, first from the Escrow Funds,
and, to the extent such Losses exceed the difference of the Escrow Funds minus any amounts that are subject to Liability Claims submitted
by Buyer, second from the earn Out, and third directly from the Company.

 

8.14. Payment
Process. Any indemnification payment to be made by an Indemnifying Party pursuant to this Section 8 will be effected,
as applicable, either by (i) release of stock by the Escrow Agent in accordance with the terms hereof and the Escrow Agreement or (ii)
wire transfer of immediately available funds from the Indemnifying Party to the account designated by the Buyer or the Company (on behalf
of the Buyer Indemnified Parties or the Company Indemnified Parties, respectively) within five (5) Business Days after such Losses have
been determined by (a) a final, non-appealable order or judgment of a court of competent jurisdiction or (b) a written, executed
agreement between the Buyer and the Company.

 

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9. Termination.

 

9.1. Termination.
The parties may not terminate this Agreement other than as follows:

 

9.1.1. This
Agreement may be terminated at any time prior to the Closing by mutual written consent of the Buyer and the Company.

 

9.1.2. The
Buyer may terminate this Agreement by delivering written notice to the Company at any time prior to the Closing in the event (a) the
Company is in material breach of any covenant, representation or warranty contained in this Agreement, (b) the Buyer has notified
the Company of the breach in writing, (c) such breach would result in, or would be reasonably be expected to result in, the failure
of any condition set forth in Section 5 and (d) such breach is incapable of cure or has continued without cure for a
period of thirty (30) days after delivery of such notice of breach; provided, however, that the Buyer shall not have the
right to terminate this Agreement pursuant to this Section 9.1.2 if the Buyer is then in material breach of this Agreement
so as to cause any of the conditions set forth in Section ‎6 to not be satisfied.

 

9.1.3. The
Company may terminate this Agreement by the Company delivering written notice to the Buyer at any time prior to the Closing in the event
(a) the Buyer is in material breach of any covenant, representation or warranty contained in this Agreement, (b) the Company
has notified the Buyer of the breach in writing, (c) such breach would result in, or would be reasonably be expected to result in,
the failure of any condition set forth in Section 6 and (d) such breach is incapable of cure or has continued without
cure for a period of thirty (30) days after delivery of such notice of breach; provided, however, that the Company shall
not have the right to terminate this Agreement pursuant to this Section 9.1.3 if the Company is then in material breach of
this Agreement so as to cause the conditions set forth in Section 5 to not be satisfied.

 

9.1.4. The
Buyer, on the one hand, or the Company, on the other hand, may terminate this Agreement by providing written notice to the other at any
time on or after December 1, 2021 (the “Expiration Date”), if the Closing shall not have occurred by the Expiration
Date; provided, that neither party shall have the right to terminate this Agreement pursuant to this Section 9.1.4
if that party’s breach of any provision of this Agreement has caused or resulted in the failure of the Closing to be consummated
by the Expiration Date.

 

9.1.5. Either
the Buyer, on the one hand, or the Company, on the other hand, may terminate this Agreement by delivering written notice to the other
if any Governmental Authority issues a Governmental Order permanently enjoining, restraining or otherwise prohibiting the Contemplated
Transactions and such Governmental Order shall have become final and non-appealable; provided, that the Person seeking to terminate
pursuant to this Section 9.1.5 has not breached its obligations under Section 7.3 so as to cause the issuance
of such Governmental Order.

 

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9.1.6. The
Company may terminate this Agreement, with no need to allow any additional cure period, by the Company delivering written notice to the
Buyer at any time prior to the Closing in the event that the conditions set forth in Section 5 have been satisfied (other
than those conditions that by their nature are to be satisfied at the Closing), the Company has confirmed that the Company is prepared
to consummate the Closing and the Buyer fails to complete the Closing on the date the Closing should have occurred pursuant to Section
2.5 (a “Buyer Failure to Close”).

 

9.1.7. The
Buyer may terminate this Agreement, with no need to allow any additional cure period, by delivering written notice to the Company at any
time prior to the Closing in the event that the conditions set forth in Section ‎6 have
been satisfied (other than those conditions that by their nature are to be satisfied at the Closing), the Buyer has confirmed that it
is prepared to consummate the Closing and the Company fails to complete the Closing on the date the Closing should have occurred pursuant
to Section 2.5 (a “Company Failure to Close”).

 

Notwithstanding anything to
the contrary in this Agreement, (i) the Buyer may not terminate this Agreement following any Buyer Failure to Close and (ii) the Company
may not terminate this Agreement following any Company Failure to Close. The party seeking to terminate this Agreement pursuant to Sections 9.1.2,
9.1.3, 9.1.4, 9.1.5 9.1.6 or 9.1.7 will give written notice of such termination to the other parties, including a
brief description of the basis on which such party is terminating this Agreement.

 

9.2. Effect
of Termination. If this Agreement is terminated pursuant to Section 9.1, all rights and obligations of the parties hereunder
will terminate without any liability of any party or any Affiliate thereof; provided, however, that (a) the rights
and obligations of the parties under Section 7.2 (Confidentiality; Announcements), Section 8.12 (Acknowledgement
by the Buyer), this Section 9.2 (Effect of Termination), Section 1 (Definitions) and Section 10 (Miscellaneous),
and the Confidentiality Agreement, will, in each case, survive termination of this Agreement and remain valid and binding obligations
of the parties, and (b) nothing herein will relieve any party to this Agreement from liability (i) pursuant to the sections
specified in this Section 9.2 that survive such termination, (ii) subject to Section 8.12, for fraud or (iii) for
any breach of any covenant or agreement contained herein occurring prior to such termination.

 

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10. Miscellaneous.

 

10.1. Notices.
All notices, requests, demands, claims and other communications required or permitted hereunder will be in writing and will be sent by
personal delivery, nationally recognized overnight courier, facsimile or by e-mail (as a PDF). Any notice, request, demand, claim, or
other communication required or permitted hereunder will be deemed duly given, as applicable, (a) upon personal delivery, (b) on
the date that delivery is confirmed in the courier’s systems when sent by courier delivery or (c) upon confirmation of receipt
when sent by facsimile or e-mail (as a PDF), addressed as follows:

 

	
    If to the Buyer or to the Parent to:

     

    Nano-X Imaging, Inc.

    6050 Braemoor

    Bloomfield Hills, MI 48301

    Email: jim.d@nanox.vision

    Attention: James Dara

     

     
	
    with a copy to:

     

    Crowell & Moring, LLP

    1001 Pennsylvania Ave., NW

    Washington, DC 20004

    Facsimile number: (202) 628-5116

    Email: mkass@crowell.com

    Attention: Mark A. Kass

	
    If to the Company to:

     

    MDWeb LLC

    29 Cormorant Drive

    Hampton Bays, NY 11946

    Email: mja@mdw.io

    Attention: Michael Averbach
	
    with a copy to:

     

    Joshpe Mooney Paltzik LLP

    1407 Broadway, Suite 4002

    New York, NY 10018

    Email: mmooney@jmpllp.com

    Attention: Michael Mooney

 

Any party may change the address to which notices,
requests, demands, claims, and other communications required or permitted hereunder are to be delivered by providing to the other parties
notice in the manner herein set forth.

 

10.2. Expenses
of Transaction. Whether or not the Contemplated Transactions are consummated, except as otherwise specifically provided for in this
Agreement, each of the parties hereto will assume and bear all expenses, costs and fees (including legal and accounting fees and expenses)
incurred by such party in connection with the preparation, negotiation and execution and performance of this Agreement and the Escrow
Agreement and the consummation of the Contemplated Transactions.

 

10.3. Entire
Agreement. The agreement of the parties that is comprised of this Agreement (including all Schedules and Exhibits hereto) and the
Escrow Agreement sets forth the entire agreement and understanding between the parties and their respective Affiliates with respect to
the subject matter thereof and supersedes any and all prior agreements, understandings, negotiations and communications (other than the
Confidentiality Agreement), whether oral or written, relating to the subject matter of this Agreement or the Escrow Agreement.

 

10.4. Severability.
If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law or under public
policy, all other conditions and provisions of this Agreement will nevertheless remain in full force and effect so long as the economic
and legal substance of the Contemplated Transactions are not affected in any manner adverse to any party. Upon such determination that
any term or other provision is invalid, illegal or incapable of being enforced, the Company and the Buyer will negotiate in good faith
to modify this Agreement so as to effect the original intent of the parties as closely as possible to the end that the Contemplated Transactions
are fulfilled in accordance with the terms hereof to the greatest extent possible.

 

10.5. Amendment.
This Agreement may be amended or modified, but only by an instrument in writing executed by each of the Buyer and the Company.

 

    -50-

     

    

 

10.6. Parties
in Interest. This Agreement will be binding upon and inure solely to the benefit of the parties hereto, and except as provided in
Sections 8, and 10.16, nothing in this Agreement, express or implied, is intended to or will be construed to or will confer
upon any other Person any right, claim, cause of action, benefit or remedy of any nature whatsoever under or by reason of this Agreement,
including by way of subrogation.

 

10.7. Assignment.
This Agreement will be binding upon and inure to the benefit of and be enforceable by the successors and permissible assigns of the parties
hereto. This Agreement and any rights and obligations hereunder may not be assigned, hypothecated or otherwise transferred by any party
hereto (by operation of law or otherwise) without the prior written agreement of the Buyer and the Company, provided that, the
Buyer may assign and delegate any or all of its rights, interests and obligations under this Agreement (1) before or after the Closing
to any of its Affiliates and (2) after the Closing, to any Person, provided in each case that any such Affiliate or Person agrees in writing
to be bound by all of the terms of this Agreement, but no such assignment or delegation will relieve the Buyer of its obligations under
this Agreement if such assignee does not perform such obligation. Any purported assignment in breach of this Section 10.7
shall be null and void.

 

10.8. Governing
Law. This Agreement, and all claims arising in whole or in part out of, related to, based upon, or in connection herewith or the subject
matter hereof or the Contemplated Transactions will be governed by, construed and enforced in accordance with the laws of the State of
New York, without giving effect to any choice or conflict of law provision or rule that would cause the application of the laws of any
other jurisdiction.

 

10.9. Consent
to Jurisdiction. Each party to this Agreement, by its execution hereof, hereby irrevocably (a) submits, except as provided in
Section 2.7, to the exclusive jurisdiction of the state or federal courts located in Manhattan, New York, NY for the purpose
of any and all Actions arising in whole or in part out of, related to, based upon or in connection with this Agreement or the subject
matter hereof or the Contemplated Transactions, (b) waives to the extent not prohibited by applicable law, and agrees not to assert,
by way of motion, as a defense or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the
above-named courts, that its property is exempt or immune from attachment or execution, that any such action brought in one of the above-named
courts should be dismissed on grounds of improper venue or forum non conveniens, should be transferred to any court other than
one of the above-named courts, or should be stayed by reason of the pendency of some other proceeding in any other court other than one
of the above-named courts, or that this Agreement or any claims arising in whole or in part out of, related to, based upon, or in connection
herewith or the subject matter hereof may not be enforced in or by such court, (c) agrees not to commence any such Action other than
before one of the above-named courts nor to make any motion or take any other action seeking or intending to cause the transfer or removal
of any such Action to any court other than one of the above-named courts (subject in each case to clause (a) of this sentence) whether
on the grounds of inconvenient forum or otherwise, (d) consents to service of process in any such Action in any manner permitted
by the laws of the State of New York, (e) agrees that service of process made in accordance with clause (d) or made pursuant
to Section 10.1 will constitute good and valid service of process in any such Action, and (f) waives and agrees not to
assert (by way of motion, as a defense, or otherwise) in any such Action any claim that service of process made in accordance with clause (d)
or clause (e) does not constitute good and valid service of process. Notwithstanding the immediately preceding sentence, a party
may commence an Action in any other court to enforce an order or judgment issued by one of the courts described in the immediately preceding
sentence.

 

    -51-

     

    

 

10.10. Waiver
of Jury Trial. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH OF THE PARTIES HERETO HEREBY WAIVES, AND
AGREES TO CAUSE EACH OF ITS SUBSIDIARIES TO WAIVE, AND COVENANTS THAT NEITHER IT NOR ANY OF ITS SUBSIDIARIES SHALL ASSERT (WHETHER AS
PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ACTION DESCRIBED IN SECTION 10.9.
ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 10.10 WITH ANY COURT AS WRITTEN EVIDENCE OF THE
CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY.

 

10.11. Reliance.
Each of the parties hereto acknowledges that it has been informed by each other party that the provisions of Sections 10.9
and 10.10 constitute a material inducement upon which such party is relying and will rely in entering into this Agreement, and
each such party agrees that any breach by such party of any of the provisions of Sections 10.9 or 10.10 above would
constitute a material breach of this Agreement.

 

10.12. Specific
Enforcement. Each of the parties acknowledges and agrees that the other parties would be damaged immediately, extensively and irreparably
and no adequate remedy at law would exist in the event that any of the provisions of this Agreement were not performed in accordance with
their specific terms or were otherwise breached or violated. Accordingly, in addition to, and not in limitation of, any other remedy available
to any party, the parties agree that, without posting bond or similar undertaking, each of the other parties shall be entitled to an injunction
or injunctions to prevent breaches or violations of the provisions of this Agreement and to the remedy of specific performance of this
Agreement and the terms and provisions hereof. Subject to Section 8 hereof and the limitations set forth therein, such remedies,
and any and all other remedies provided for in this Agreement, will, however, be cumulative in nature and not exclusive and will be in
addition to any other remedies to which such party may be entitled. Each of the parties hereby acknowledges and agrees that injunctive
relief and/or specific performance will not cause an undue hardship to any party. Each party further agrees that, in the event of any
action for injunctive relief or for specific performance in respect of any breach or violation, or threatened breach or violation, of
this Agreement, it shall not assert the defense that a remedy at law would be adequate or that specific performance or injunctive relief
in respect of such breach or violation should not be available on any other grounds.

 

10.13. No
Waiver. No failure or delay on the part of any party hereto in the exercise of any right hereunder will impair such right or be construed
to be a waiver of, or acquiescence in, any breach of any representation, warranty, covenant or agreement herein, nor will any single or
partial exercise of any such right preclude any other or further exercise thereof or of any other right. No waiver of any provision of
this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar), or shall constitute
a continuing waiver unless otherwise expressly provided. No waiver of any right or remedy hereunder shall be valid unless the same shall
be in writing and signed by the party against whom such waiver is intended to be effective.

 

    -52-

     

    

 

10.14. Negotiation
of Agreement. The parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or
question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties and no presumption
or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement.

 

10.15. Disclosure
Schedules. The inclusion of any information in the Disclosure Schedules will not be deemed an admission or acknowledgment that such
information is required to be listed in the Disclosure Schedules or that such items are material. The Disclosure Schedules are arranged
in sections corresponding to the subsections of Section 3 contained in this Agreement, and the disclosure of an item in one section
of the Disclosure Schedules as an exception to a particular representation or warranty in such subsection of Section ‎3
will be deemed adequately disclosed as an exception with respect to all other representations and warranties in Section ‎3
to the extent that the relevance of such item to such other representations and warranties in Section 3 is reasonably apparent
on its face, notwithstanding the presence or absence of an appropriate cross-reference thereto.

 

10.16. Third
Party Beneficiaries. No provision of this Agreement is intended to confer upon any Person other than the parties hereto any rights
or remedies hereunder; provided however, that the following Persons are expressly intended as third party beneficiaries with respect
to the following specified sections of this Agreement and will have the right to enforce such specified sections against the parties to
this Agreement: with respect to Section 8, the Persons who are the beneficiaries of the indemnification under such Section.

 

10.17. Headings.
The headings contained in this Agreement are inserted only for reference as a matter of convenience and in no way define, limit or describe
the scope or intent of this Agreement, and will not affect in any way the construction, meaning or interpretation of this Agreement.

 

10.18. Counterparts;
Electronic Signature. This Agreement may be executed in any number of counterparts, and by the different parties hereto in separate
counterparts, each of which will be deemed an original for all purposes and all of which together will constitute one and the same instrument.
This Agreement may be executed by facsimile or PDF signature by any party and such signature will be deemed binding for all purposes hereof
without delivery of an original signature being thereafter required.

 

[The remainder of this page is intentionally
blank. Signatures follow.]

 

    -53-

     

    

 

In
witness whereof, the parties have caused this Asset Purchase Agreement to be executed under seal by their respective duly authorized
officers as of the date first written above.

 

	THE BUYER:	Nano-X Imaging, INC.
	 	 
	 	By:	/s/James Dara
	 	Name:	James Dara
	 	Title:	President
	 	 
	THE PARENT:	NANO-X IMAGING LTD.
	 	 
	 	By:	 /s/ Ran Daniel
	 	Name: 	Ran Daniel
	 	Title:	Chief Financial Officer
	 	 
	THE COMPANY:	MDWEB, LLC (doing business as MDW, LLC)
	 	 
	 	By:	/s/ Michael Averbach
	 	Name:	Michael Averbach
	 	Title:	Chief Executive Officer

 

Signature Page to Asset
Purchase Agreement

 

 

54Exhibit 4.2

 

AGREEMENT AND PLAN OF MERGER

DATED AS OF

AUGUST 9, 2021

BY AND AMONG

 

NANO-X IMAGING LTD

ZEBRA MEDICAL VISION LTD.,

NEW ZEALAND MERGER SUB LTD,

AND

PERRYLLION LTD

 

     

     

    

 

Table
of Contents

 

	Article I DEFINITIONS AND RULES OF CONSTRUCTION	3
	 	Section 1.1	Defined Terms	3
	 	Section 1.2	Certain References	3
	 	Section 1.3	Rules of Construction	3
	Article II THE MERGER	4
	 	Section 2.1	Reverse Subsidiary Merger	4
	 	Section 2.2	Effective Time	4
	 	Section 2.3	Conversion of Company Shares; Treatment of Company Outstanding Instruments and Treatment of Company Warrants	4
	 	Section 2.4	Escrow	5
	 	Section 2.5	Charter, Bylaws, Directors and Officers	6
	 	Section 2.6	Calculation of Merger Consideration	6
	 	Section 2.7	Closing and Closing Payments	6
	 	Section 2.8	Exchange of Certificates.	9
	 	Section 2.9	Closing Deliveries	10
	 	Section 2.10	Post-Closing Payments	11
	 	Section 2.11	Notice of a Failure to Achieve a Milestone	12
	 	Section 2.12	Disputes Regarding the Achievement of a Milestone	12
	 	Section 2.13	Withholding	
	Article III REPRESENTATIONS AND WARRANTIES OF THE COMPANY	13
	 	Section 3.1	Organization, Existence and Good Standing	13
	 	Section 3.2	Power and Authority	13
	 	Section 3.3	Enforceability	14
	 	Section 3.4	Consents; Non-contravention	14
	 	Section 3.5	Capitalization	14
	 	Section 3.6	Subsidiaries	16
	 	Section 3.7	Financial Statements	16
	 	Section 3.8	Undisclosed Liabilities; Indebtedness	17
	 	Section 3.9	Assets	17
	 	Section 3.10	Taxes	18
	 	Section 3.11	Conduct of Business	21
	 	Section 3.12	Contracts	23
	 	Section 3.13	Permits	25

 

    i

     

    

 

Table
of Contents

(continued)

 

	 	Section 3.14	Litigation	25
	 	Section 3.15	Compliance with Laws	26
	 	Section 3.16	Real Property	26
	 	Section 3.17	Environmental Matters	26
	 	Section 3.18	Intellectual Property	27
	 	Section 3.19	Data Protection; Privacy	30
	 	Section 3.20	Information Technology	31
	 	Section 3.21	Employee Benefits	32
	 	Section 3.22	Employees; Labor	33
	 	Section 3.23	Related Parties Transactions	36
	 	Section 3.24	Customers; Suppliers	37
	 	Section 3.25	Insurance	37
	 	Section 3.26	Names; Officers and Bank Accounts	37
	 	Section 3.27	Accounts Receivable	38
	 	Section 3.28	Brokers	38
	 	Section 3.29	Accredited Investors and Qualified Investors	38
	Article IV REPRESENTATIONS AND WARRANTIES OF PURCHASER	38
	 	Section 4.1	Organization, Existence and Good Standing	38
	 	Section 4.2	Power and Authority	38
	 	Section 4.3	Enforceability	39
	 	Section 4.4	Consents; Non-contravention	39
	 	Section 4.5	Brokers	39
	 	Article V	COVENANTS OF THE COMPANY	41
	 	Section 5.1	Reasonable Access	41
	 	Section 5.2	Third Party Consents	41
	 	Section 5.3	Operation of the Business	42
	 	Section 5.4	Certain Updates	42
	 	Section 5.5	Exclusivity	43
	 	Section 5.6	Shareholder Consent	44
	 	Section 5.7	Termination of Shareholder Agreements and Related Party Agreements	44
	 	Section 5.9	Benefit Plan Terminations	

 

    ii

     

    

 

Table
of Contents

(continued)

 

	Article VI COVENANTS OF PURCHASER	44
	 	Section 6.1	Confidentiality Agreement	44
	 	Section 6.2	Officers’ and Directors’ Liability	44
	Article VII JOINT COVENANTS	45
	 	Section 7.1	Commercially Reasonable Efforts	45
	 	Section 7.2	Further Assurances	45
	Article VIII CONDITIONS TO CLOSING	46
	 	Section 8.1	Conditions to the Company’s Obligations	46
	 	Section 8.2	Conditions to Purchaser’s and Merger Sub’s Obligations	46
	 	Section 8.3	Joint Conditions to the Parties’ Obligations	48
	Article IX INDEMNIFICATION	49
	 	Section 9.1	General; Survival	49
	 	Section 9.2	The Equityholders’ Indemnification Obligations	49
	 	Section 9.3	Individual Equityholder Indemnification	51
	 	Section 9.4	Limitations on Indemnification Obligations	53
	 	Section 9.5	Purchaser’s Indemnification Obligations	53
	 	Section 9.6	Notice and Determination of Claims	54
	 	Section 9.7	Third Party Claims	54
	 	Section 9.8	Obligations to Mitigate Damages	55
	 	Section 9.9	Adjustment to Merger Consideration	55
	 	Section 9.10	Indemnification Exclusive Remedy	55
	Article X Tax Matters	55
	 	Section 10.1	Preparation and Filing of Tax Returns	55
	 	Section 10.2	Control of Audit or Tax Litigation	56
	 	Section 10.3	Cooperation	56
	 	Section 10.4	Transfer Taxes	57
	 	Section 10.5	Tax Refunds	57
	 	Section 10.6	Tax Sharing Agreements	57
	Article XI TERMINATION	58
	 	Section 11.1	General	58
	 	Section 11.2	Right to Terminate	58
	 	Section 11.3	Remedies Upon Termination	59
	 	Section 11.4	Certain Other Effects of Termination	60

 

    iii

     

    

 

Table
of Contents

(continued)

 

	Article XII EQUITYHOLDER REPRESENTATIVE	60
	 	Section 12.1	Appointment of the Equityholder Representative	60
	 	Section 12.2	Authority of the Equityholder Representative	60
	 	Section 12.3	Reliance	61
	 	Section 12.4	Indemnification of the Equityholder Representative	63
	 	Section 12.5	Expense Fund	63
	Article XIII ADDITIONAL COVENANTS	64
	 	Section 13.1	Limitation on Warranties; No Reliance	64
	 	Section 13.2	Specific Reliance	64
	 	Section 13.3	Disclosure Schedule	64
	Article XIV MISCELLANEOUS	66
	 	Section 14.1	Transaction Expenses	66
	 	Section 14.2	Publicity	66
	 	Section 14.3	Notices	67
	 	Section 14.4	Entire Agreement	68
	 	Section 14.5	Non-Waiver	68
	 	Section 14.6	Counterparts	68
	 	Section 14.7	Delivery by Electronic Transmission	68
	 	Section 14.8	Severability	68
	 	Section 14.9	Applicable Law	68
	 	Section 14.10	Binding Effect; Benefit	68
	 	Section 14.11	Assignment	69
	 	Section 14.12	Amendments	69
	 	Section 14.13	Waiver of Trial by Jury	69
	 	Section 14.14	Consent to Jurisdiction	69
	 	Section 14.15	Specific Performance	69
	 	Section 14.16	Conflicts Regarding Representation	69
	 	Section 14.17	Governmental Reporting	69
	 	Section 14.18	Headings	69

 

    iv

     

    

 

	Annex A	Defined Terms	A-1
	Schedule 1.1	Key Employees	 
	Schedule 2.9(b)(ii)	Company’s Service Providers	 
	Schedule 4.4	Purchaser Capitalization Table	 
	Schedule 5.2	Required Consents	 
	 	 	 
	Document Schedules	 
	 	 	 
	Exhibit A	Form of Voting Agreement	 
	Exhibit B	Merger Proposal	 
	Exhibit C	Form of Payout Spreadsheet	 
	Exhibit D	Company Board Resolution	 
	Exhibit E	Form of Company Counsel Legal Opinion	 
	Exhibit F	Form of Nano-X Counsel Legal Opinion	 
	Exhibit G	Indemnification Agreements	 
	Exhibit H	Milestone Schedule	 
	Exhibit I	Post- Closing Articles of Association of the Surviving Corporation	 
	Exhibit J	Form of Convertible Loan Agreement	 

 

    v

     

    

 

AGREEMENT AND PLAN OF MERGER

 

THIS AGREEMENT AND PLAN OF
MERGER (this “Agreement”) is made as of August [•], 2021, by and among Nano-X Imaging Ltd, an Israeli company
(“Purchaser”), New Zealand Merger Sub Ltd., an Israeli company and a wholly-owned subsidiary of Purchaser (“Merger
Sub”), Zebra Medical Vision Ltd., an Israeli company (the “Company”), and PerryLLion Ltd., solely in its
capacity as the representative of all Equityholders (the “Equityholder Representative”).

 

PRELIMINARY STATEMENTS

 

A. The
parties hereto intend to enter into a transaction whereby Merger Sub will merge with and into the Company (the “Merger”),
with the Company surviving the merger, on the terms and subject to the conditions set forth in this Agreement and in accordance with the
provisions of Sections 314-327 of the Companies Law 5759-1999 of the State of Israel (together with the rules and regulations promulgated
thereunder, the “ICL”), following which Merger Sub will cease to exist, and the Company will become a wholly owned
subsidiary of Purchaser, on the terms and subject to the conditions set forth in this Agreement.

 

B.  The
Board of Directors of the Company has: (i) determined that this Agreement, the Merger and the other transactions contemplated by this
Agreement are fair to, and in the best interests of, the Company and its shareholders; (ii) approved this Agreement, the Merger and the
other transactions contemplated hereby; and (iii) determined to recommend that the shareholders of the Company approve this Agreement,
the Merger and the other transactions contemplated hereby;

 

C. The
Boards of Directors of Purchaser and Merger Sub have each (i) approved this Agreement, the Merger and the other transactions contemplated
hereby, (ii) determined that this Agreement, the Merger and the other transactions contemplated by this Agreement are fair to, and in
the best interests of, Merger Sub and its sole shareholder, Purchaser; (iii) determined that, considering the financial position of the
merging companies, no reasonable concern exists that the Surviving Corporation will be unable to fulfill the obligations of Merger Sub
to its creditors; and (iv) determined to recommend that Purchaser, as the sole shareholder of Merger Sub, approves this Agreement, the
Merger and the other transactions contemplated hereby.

 

D. Simultaneously
with the execution and delivery of this Agreement, as a condition to Purchaser’s entering into this Agreement and as an inducement
thereto, Purchaser, the Company and the Requisite Supporting Shareholders entered into a voting agreement (the “Voting Agreement”)
in the form of Exhibit A pursuant to which such shareholders have agreed to take specified actions in furtherance of the Merger
and providing their agreement to the terms and conditions of this Agreement, including (i) actions relating to the approval of the Merger
and adoption of this Agreement by the Company’s shareholders, and (ii) providing their consent to the effectiveness of the indemnification
agreement, customary waivers of rights, customary representations concerning their shares and their rights to consummate the transactions
contemplated by the Merger and the limitations on sales stipulated therein.

 

    2

     

    

 

E. Simultaneously
with the execution and delivery of this Agreement, Purchaser and the Company shall enter into a convertible loan agreement, in the form
attached hereto as Exhibit J (the “Convertible Loan Agreement”), pursuant to which Purchaser shall extend
to the Company, immediately following the execution of this Agreement, a convertible loan in the principal amount of $3,000,000, which,
in the case that this Agreement is terminated, will be converted into shares of the most senior class of shares of the Company, all, as
further stipulated in the Convertible Loan Agreement.

 

F. Simultaneously
with the execution of this Agreement, Purchaser, as the sole shareholder of Merger Sub, is adopting and approving this Agreement and the
transactions contemplated hereby, including the Merger.

 

AGREEMENTS

 

In consideration of the mutual
representations, warranties, covenants and agreements set forth in this Agreement, and for other good and valid consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

Article I

DEFINITIONS AND RULES OF CONSTRUCTION

 

Section 1.1 Defined
Terms. Certain capitalized terms used in this Agreement have the definitions set forth in the body of this Agreement. Any capitalized
terms used in this Agreement and not defined in the body of this Agreement have the meanings assigned to such terms in Annex A.

 

Section 1.2 Certain
References. Any reference in this Agreement to a statute refers to the statute, any amendments or successor legislation, and all regulations
promulgated thereunder, as in effect at the relevant time. Any reference in this Agreement to any United States federal or state action,
remedy, method of judicial proceeding, legal document, legal status, court, official or any legal concept or thing shall, in respect of
any jurisdiction other than a federal or state jurisdiction of the United States, be deemed to include what is most nearly approximate
under the laws of such other jurisdiction. Any reference to a contract, instrument or other document as of a given date means the contract,
instrument or other document as amended, supplemented and modified from time to time through such date.

 

Section 1.3 Rules
of Construction. Words in the singular shall be held to include the plural and vice versa. Words of one gender shall be held to include
the other genders as the context requires. The terms “hereof,” “herein,” “hereunder,” “hereto”
and “herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement and not
to any particular provision of this Agreement. All article, section, paragraph, annex, exhibit and schedule references are to the articles,
sections, paragraphs, annexes, exhibits and schedules of this Agreement unless otherwise specified. The word “including” and
words of similar import when used in this Agreement shall mean “including, without limitation” unless otherwise specified.
The word “or” shall not be exclusive. All references herein to “dollars” or “$” are to United States
dollars. All references herein to “ILS” are to Israeli New Shekels. Any accounting term used in this Agreement shall have,
unless otherwise specifically provided herein, the meaning customarily given such term in accordance with US GAAP, and all financial computations
hereunder will be computed, unless otherwise specifically provided herein, in accordance with US GAAP. All references herein to any period
of days shall mean the relevant number of calendar days unless otherwise specified. All references herein to a “party” or
“parties” are to a party or parties to this Agreement unless otherwise specified. For purposes of ‎Article III,
the words “made available,” “furnished,” “delivered” or “provided” or terms of similar
import shall mean, with respect to any material, that a copy of such material has been (a) posted to the Data Room on or before 5:00
p.m. (Israel time) on the date that is two Business Days prior to the date of this Agreement, and (b) memorialized in electronic
format on a CD-ROM delivered to Purchaser promptly following the execution of this Agreement (but in no event later than three days thereafter).

 

    3

     

    

 

Article II

THE MERGER

 

Section 2.1 Reverse
Subsidiary Merger. Upon the terms and subject to the conditions set forth in this Agreement, and in accordance with the ICL, at the
Effective Time, Merger Sub (as the target company (Chevrat Ha’Ya’ad) in the Merger) shall be merged with and into the Company
(as the absorbing company (HaChevra Ha’Koletet) in the Merger). As a result of the Merger, the separate corporate existence of Merger
Sub shall cease and the Company shall continue as the Surviving Corporation (the “Surviving Corporation”) and shall
(a) become wholly owned by Purchaser, (b) continue to be governed by the Laws of the State of Israel, (c) maintain a registered office
in the State of Israel, and (d) succeed to and assume all of the rights, properties and obligations of Merger Sub in accordance with the
ICL.

 

Section 2.2 Effective
Time. As soon as practicable after the determination of the date on which the Closing is to take place, each of the Company and Merger
Sub shall (and Purchaser shall cause Merger Sub to), in coordination with each other, deliver to the Registrar of Companies of the State
of Israel (the “Companies Registrar”) a notice of the contemplated Merger and the proposed date of the Closing on which
the Companies Registrar is requested to issue a certificate evidencing the Merger in accordance with Section 323(5) of the ICL (the “Certificate
of Merger”) after notice that the Closing has occurred is served to the Companies Registrar, which the parties shall deliver
on the Closing Date. The Merger shall become effective upon the issuance by the Companies Registrar of the Certificate of Merger in accordance
with Section 323(5) of the ICL (the time at which the Merger becomes effective is referred to herein as the “Effective Time”).
For the avoidance of doubt, and notwithstanding any provision of this Agreement to the contrary, it is the intention of the parties hereto
that the Merger shall be declared effective and that the issuance by the Companies Registrar of the Certificate of Merger in accordance
with Section 323(5) of the ICL shall both occur on the Closing Date.

 

Section 2.3 Conversion
of Company Shares; Treatment of Company Options, Outstanding Instruments and Company Warrants. At the Effective Time, by virtue of
the Merger and without any further action on the part of Purchaser, Merger Sub, the Company or any of their respective shareholders or
agents, subject to the terms set forth in this ‎Article II, each Company Share
issued and outstanding immediately before the Effective Time will be transferred to the Purchaser, and each Company Warrant and Company
Outstanding Instrument will be cancelled, and the right of each Equityholder thereof shall convert into and represent only the right to
receive its respective amount in the Closing Consideration, Post-Closing Payment Amount (including, for the removal of a doubt, the Deferred
Closing Consideration) and Earn-out Payment Amount pursuant to the Payout Spreadsheet.

 

(a) All
Company Shares, Company Outstanding Instruments and Company Warrants converted in accordance with this ‎Section 2.3
shall upon such conversion no longer be outstanding and shall automatically be cancelled, and each holder of a certificate or certificates
representing such Company Shares, Company Outstanding Instrument and Company Warrant shall cease to have any rights with respect to such
Company Shares, Company Outstanding Instrument or Company Warrant, as applicable, except the right to receive consideration in the value
specified above in this ‎Section 2.3.

 

    4

     

    

 

Treatment of Vested Company Options. As of the Effective Time,
any Vested Company Option (including any Unvested Company Option which becomes vested on account of the transactions contemplated herein)
shall be converted, immediately prior to the Effective Time, on a cashless (net exercise) basis, into Company Shares, in a way that each
Company Option holder will be entailed to Company Shares, in a value that is net of its stated exercise price. It is clarified that the
aggregated exercise price of all option holders will be added and be part of the Closing Consideration and will be distributed in accordance
with the Payout Spreadsheet.

 

(b) Treatment
of Unvested Company Options; Termination of all Company Options. As of the Effective Time, any Unvested Company Option (including
any Company Option promised to any Person but not granted by the Company) shall be cancelled or otherwise terminated, while having the
right to receive that amount of options to purchase Ordinary Shares of Purchaser, as provided in the Payout Spreadsheet (which shall include
the specific terms of exercise price, vesting schedule etc.), which will assume, for the purpose of calculating the respective portion
of the Merger Consideration which is attributed to Unvested Company Options, the conversion of all of the Unvested Company Options into
Ordinary Shares of the Company, immediately prior to the Closing as set forth in the Payout Spreadsheet (the “Option Consideration”).
In the event that any portion of the Option Consideration will not be issued to the grantees thereof due to termination of employment
or otherwise (the “Options Shortfall Amount”), then the consideration payable to the Equity Holders shall increase
by an identical number of Ordinary Shares of Purchaser which is equal to the Options Shortfall Amount (such number of Ordinary Shares
of Purchaser, the “Option Consideration True Up”), and such Option Consideration True Up will be added, if applicable,
on a pro-rata basis, to the Consideration (and will be treated, for all intents and purposes, as part of the Consideration hereunder)
which shall be allocated between the Equity Holders in the manner set forth in the Payout Spreadsheet, on April 25, 2025. Prior to the
Closing, the Company shall have taken all actions, if any, necessary to cause the cancellation and termination of such Company Options
and the treatment of such Company Options in the manner described in this Section 2.3, including, solely to the extent so required,
providing any required notice to or obtaining a waiver of such notice from the holders of the Company Options pursuant to the documents
governing such Company Options.

 

(c) All
of the Ordinary Shares of Merger Sub, with each having NIS 0.01 par value, which are issued and outstanding immediately prior to the Effective
Time shall be converted into and become validly issued, fully paid and non-assessable shares of the Surviving Corporation, such that all
of the shares of the Surviving Corporation which are issued and outstanding immediately prior to the Effective Time shall, by virtue of
the Merger and such conversion, be held by the Purchaser.

 

Section 2.4 Escrows.
On the Closing Date, Purchaser Share Consideration valued at $10,000,000 based on the Purchaser Share Consideration Price (the “Indemnity
Escrow Amount”) will be deposited by Purchaser with Altshuler Shaham Trusts Ltd. (together with its successors and permitted
assigns, the “Escrow Agent”) in an escrow account (the “Indemnity Escrow Account”) in accordance
with the Escrow and Paying Agent Agreement in a form to be reasonably agreed between the Parties (the “Escrow and Paying Agent
Agreement”), to serve as a mechanism to satisfy certain indemnification and other obligations of the Equityholders pursuant
to (or otherwise permitted by) ‎Article IX. The Indemnity Escrow Amount, net
of the amount of any claims for indemnification that have been noticed or filed under ‎Article IX,
will be released to the Paying Agent following a 12-month period as of the Closing Date for distribution to the Equityholders in accordance
with the Payout Spreadsheet.

 

    5

     

    

 

Section 2.5 Articles
of Association, Directors and Officers.

 

(a) Articles
of Association. At the Effective Time, the Articles of Association of Surviving Corporation, shall be the Articles of Association
in the form attached hereto as Exhibit I, until duly amended as provided therein, herein and by applicable Law.

 

(b) Directors.
The parties shall take all actions necessary so that the directors of Merger Sub at the Effective Time shall, from and after the Effective
Time, be appointed and serve as the directors of the Surviving Corporation until the earlier of their resignation or removal or until
their respective successors are duly elected and qualified, as the case may be, in accordance with the Surviving Corporation’s articles
of association.

 

(c) Officers.
At the Effective Time, the non-director officers of the Company immediately before the Effective Time shall be the non-director officers
of the Surviving Corporation, until the earlier of their resignation or removal or until their respective successors are duly elected
or appointed and qualified, as the case may be.

 

Section 2.6 Calculation
of Merger Consideration. Subject to the terms and conditions of this Agreement, the aggregate consideration to which the Equityholders
(including, for the removal of a doubt, the holders of all Company Options, whether Vested Company Options or Unvested Company Options
(taking into account the exchange thereof into equity securities of the Purchaser) shall be entitled pursuant to this Agreement (the “Merger
Consideration”) is an amount of Purchaser Share Consideration (valued at the Purchaser Share Consideration Price) equal to:
(a) $100,000,000; minus (b) the Option Consideration; (the aggregate consideration in subsections (a) and (b) constitutes
the “Closing Consideration”); plus (c) the Deferred Closing Consideration (as defined below), if and
as applicable; plus (d) up to $84,000,000 contingent upon the successful achievement of the Milestones (the “Earn-out
Consideration”); plus (e) if applicable according to the provisions of Section 2.3(b) hereof, the Option Consideration
True Up.

 

Section 2.7 Closing
and Closing Payments.

 

(a) The
transactions contemplated by this Agreement shall be consummated (the “Closing”) remotely via email no later than three
Business Days after the satisfaction or, if permissible, waiver, of the conditions set forth in Article VIII (other than those
conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or waiver of such conditions), or
on such other date, or at such other time or place, as shall be mutually agreed upon by the Company and Purchaser (provided that such
date shall not be later than the date on which a merger approval certificate is issued by the Companies Registrar). The date on which
the Closing occurs in accordance with the preceding sentence is referred to in this Agreement as the “Closing Date.”
In lieu of an in-person Closing, the Closing may instead be accomplished by email (in PDF or similar format) transmission to the respective
offices of legal counsel for the parties of the requisite documents, duly executed where required, delivered upon actual confirmed receipt.
All proceedings to be taken and all documents to be executed and delivered by all parties at the Closing will be deemed to have been taken
and executed simultaneously, and no proceedings will be deemed to have been taken nor documents executed or delivered until all have been
taken, executed and delivered.

 

    6

     

    

 

(b) Not
less than five Business Days prior to the anticipated Closing Date, the Company shall deliver to Purchaser a statement (the “Closing
Consideration Certificate”), certified by the Chief Executive Officer of the Company, setting forth: (i) the Company’s
good faith calculation of the Closing Consideration, together with the Company’s good faith estimates of the Closing Indebtedness
and Transaction Expense Amount, based upon the most recent ascertainable financial information and records of the Company and the Transaction
Expense Amount and (ii) the Payout Spreadsheet. The Closing Consideration Certificate shall be prepared in accordance with the terms of
this Agreement, and, to the extent not inconsistent therewith, US GAAP. Prior to the Closing, Purchaser (A) shall have an opportunity
to review with the Company and its representatives, and the Company shall provide Purchaser and its representatives reasonable access
during normal business hours and upon reasonable notice to, the records of the Company and such information used to prepare the Closing
Consideration Certificate and Payout Spreadsheet and its personnel, and (B) may object to all or any part of, the Closing Consideration
Certificate. The Company shall consider such objections in good faith, but the Company’s reasonable good faith estimates of the
Closing Indebtedness and Transaction Expense Amount shall control for purposes of calculating the payments to be made at Closing pursuant
to this ‎Section 2.7 (it being understood that Purchaser does not waive its
rights with respect to any misrepresentation by the Company as more fully set forth in Section 9 herein).

 

(c) Promptly
after the Closing Date and on the Effective Time, Purchaser shall make the following payments to the Persons indicated below:

 

(i) an
amount in Purchaser Share Consideration (valued at the Purchaser Share Consideration Price) equal to the Indemnity Escrow Amount shall
be deposited with the Escrow Agent, to be held and distributed by the Escrow Agent pursuant to the terms and conditions of the Escrow
and Paying Agent Agreement;

 

(ii) an
amount of Purchaser Share Consideration (valued at the Purchaser Share Consideration Price) equal to the Closing Consideration minus (A)
the Indemnity Escrow Amount, and minus (B) the Expense Fund Amount, as set forth on the Payout Spreadsheet, shall be issued and deposited
with the Paying Agent for the benefit of and distribution to the Equityholders.

 

(d) Required
Withholding. Notwithstanding anything to the contrary hereunder, each of the Purchaser, its Subsidiaries, Merger Sub, the Company,
the Paying Agent and any of their respective agents (each a “Payor”) shall be entitled to deduct and withhold or cause
to be deducted and withheld from any consideration, or other amounts, payable or otherwise deliverable pursuant to, or in connection with,
this Agreement (including the Merger Consideration and payments set forth in Section 2.3) such amounts as required to be deducted
or withheld therefrom under the Ordinance, or under any provision of applicable state, local, Israeli or foreign Tax Law and if any amount
is required to be withheld from Purchaser Share Consideration pursuant to this Agreement, Purchaser shall pay such amount in cash through
the Paying Agent and reduce the relevant Purchaser Share Consideration. To the extent such amounts were so deducted or withheld and timely
remitted by each Payor to the applicable Governmental Entity in accordance with applicable Law, such amounts shall be treated for all
purposes under this Agreement as having been paid to the Person to whom such amounts would otherwise have been paid. Payor shall provide
as soon as reasonably possible to each Person with respect of whom the deduction and withholding was made, a document evidencing the amount
so withheld and remitted to the applicable Governmental Entity with respect to the payment made to such Person.

 

    7

     

    

 

(e) Notwithstanding
the foregoing, with respect to any Israeli Taxes, if the Paying Agent provides Purchaser, prior to the Closing Date, with an undertaking
as required under Section 6.2.4.3(c) of the Income Tax Circular 19/2018 (Transaction for Sale of Rights in a Corporation that includes
Consideration that will be transferred to the Seller at Future Dates) with respect to Israeli Tax, any consideration payable under this
Agreement at the Closing to each Equityholder shall be retained by the Paying Agent for the benefit of each such Equityholder for a period
of up to 180 days from Closing (or, with respect to the Escrow Amount and Expense Fund Amount, 90 days from the date on which such amount,
or any portion thereof, is released to the applicable Equityholder) or an earlier date required in writing by such Equityholder or as
otherwise requested by the ITA (the “Withholding Drop Date”) during which time no Payor shall make any payments to
any such Equityholder with respect to Company Shares or Company Convertible Instruments or withhold any amounts for Israeli Taxes from
the consideration pursuant to this Agreement, except as provided below (unless such Payor is otherwise instructed explicitly by the ITA),
and during which time each such Equityholder may obtain (or, if one already exists, present to the Paying Agent) a valid certificate,
ruling or other written instructions issued by the ITA regarding the withholding (or exemption from withholding) of Israeli Tax from the
consideration payable in respect thereof in accordance with this Article II or providing other instructions regarding such payments or
withholding, to the Purchaser’s reasonable satisfaction (the “Valid Certificate”); for the avoidance of doubt,
each of the 104H Tax Ruling and the 104H Interim Ruling, is and shall be considered a Valid Certificate. If any such Equityholder delivers,
no later than 3 Business Days prior to the Withholding Drop Date a Valid Certificate to a Payor, then the deduction and withholding of
any Israeli Taxes shall be made only in accordance with the provisions of such Valid Certificate. If any Equityholder (i) does not provide
Payor with a Valid Certificate, by no later than 3 Business Days before the Withholding Drop Date, or (ii) submits a written request with
Payor to release such Equityholder’s applicable consideration relevant thereto prior to the Withholding Drop Date but fails to submit
a Valid Certificate at or before such time, then the amount to be withheld from such consideration shall be as required under the Ordinance.
Such amount shall be delivered or caused to be delivered to the ITA by the relevant Payor.

 

(f) Notwithstanding
anything else to the contrary in this Agreement, and unless instructed otherwise by the ITA in writing, for Israeli withholding Tax purposes,
the value of the Purchaser Share Consideration shall be determined based on the closing price of such share on the Closing Date.

 

(g) In
the event that a Payor receives a demand from the ITA to withhold any amount in respect of any recipient and transfer it to the ITA prior
to the Withholding Drop Date, the Payor (i) shall notify such recipient of such matter promptly after receipt of such demand, and provide
such recipient with reasonable time (but in no event less than thirty (30) days, unless otherwise explicitly required by the ITA) to attempt
to delay such requirement or extend the period for complying with such requirement as evidenced by a written certificate, ruling or confirmation
from the ITA, and (ii) to the extent that any such certificate, ruling or confirmation is not timely provided by such recipient to the
Payor, transfer to the ITA any amount so demanded, including any interest, indexation and fines required by the ITA in respect thereof,
and such amounts shall be treated for all purposes of this Agreement as having been delivered and paid to such recipient.

 

    8

     

    

 

(h) the
provisions of the Israeli Income Tax Rulings shall apply and all applicable withholding procedures with respect to any Electing Holders
shall be made in accordance with the provisions of the Israeli Income Tax Rulings.

 

(i) Notwithstanding
anything to the Contrary set forth herein, any withholding effected hereunder by the Purchaser, Merger Sub, Company, Paying Agent or Escrow
Agent shall be effected, at the election of Purchaser, either (i) through the sale of Purchaser Share Consideration held in the Indemnity
Escrow Account or from the Merger Consideration and remittance of the proceeds therefrom to the applicable Tax Authority in accordance
with applicable Laws or (ii) the forfeiture from the Indemnity Escrow Account of Purchaser Share Consideration and payment of the applicable
withholding amount to the applicable Tax Authority out of the Purchaser’s cash resources; provided that in each case the calculation of
the number of shares of Purchaser Share Consideration to be so sold or forfeited shall be based on the Purchaser Share Consideration Price.

 

Section 2.8 Exchange
of Certificates.

 

(a) Following
the date hereof, the parties will engage Altshuler Shaham Trusts Ltd. (the “Paying Agent”), to act as Paying Agent
under this Agreement for the purpose of effecting the exchange of consideration for Company certificates that, immediately prior to the
Effective Time, represented Company Shares entitled to payment pursuant to ‎Section 2.3.
Promptly following the Effective Time, the Paying Agent shall send to each Equityholder a Letter of Transmittal, together with instructions
for the completion and return thereof. The Paying Agent shall pay each holder of certificates representing Company Shares who has surrendered
his, her or its certificates representing such Company Shares, together with a duly executed and completed letter of transmittal substantially
in the form which will be reasonably agreed between the Parties (“Letter of Transmittal”), and, with respect to Company
Shareholders who are individuals and residents in a jurisdiction that follows the community property regime, a duly executed Spousal Consent,
the amount of Purchaser Share Consideration to which he, she or it is entitled under ‎Section 2.3
as of the Effective Time (to avoid doubt, excluding any Post-Closing Payment Amounts or Earn-out Payment Amounts), which amount shall
be transferred to the Paying Agent within two Business Days after the later of (A) the Effective Time and (B) the date on which the Paying
Agent receives such Equityholder’s duly completed Letter of Transmittal, certificate(s) and other documents, if any, reasonably
required by the Paying Agent for the purposes of making such transfer (“Transmittal Documents”). Until so surrendered
and exchanged, each such certificate shall represent solely the right to receive the applicable portion of the Merger Consideration pursuant
to ‎Section 2.3. Notwithstanding the foregoing, if any such certificate shall
have been lost, stolen or destroyed, then, upon the making of an affidavit of such fact and the granting of a standard indemnity with
respect thereto by the Person claiming such certificate to be lost, stolen or destroyed, the Paying Agent shall disburse, in exchange
for such lost, stolen or destroyed certificate, the applicable portion of the Merger Consideration to be paid in respect of the Company
Shares represented by such certificate pursuant to ‎Section 2.3, as contemplated
by this ‎Section 2.8(a).

 

(b) Any
portion of the Merger Consideration deposited with the Paying Agent pursuant to ‎Section 2.8(a)
or Section 2.10 below that remains unclaimed by the Equityholders one year after the Effective Time - with respect to the Closing
Consideration, or, one year after the Milestone Achievement Date – with respect to each payment of any Earn-out Payment Amount,
will be returned to the Surviving Corporation, and any Equityholder who has not delivered to the Paying Agent the applicable Letter of
Transmittal, Transmittal Documents and, as applicable, Share certificates (or in the event that any Share certificate has been lost, stolen
or destroyed, provided an affidavit in accordance with ‎Section 2.8(a)) in
each case prior to such time, will thereafter look only to the Surviving Corporation for payment thereof.

 

    9

     

    

 

Section 2.9 Closing
Deliveries. At the Closing, the parties shall deliver the documents and instruments that are set forth in this ‎Section 2.9.

 

(a) At
the Closing, Purchaser or Merger Sub, as applicable, shall execute and/or deliver or cause to be delivered to the Company (or such other
Person as indicated below) all of the following:

 

(i) the
Escrow and Paying Agent Agreement, duly executed by Purchaser;

 

(ii) a
certificate executed by Purchaser confirming that the conditions set forth in Sections ‎8.1(a)
and 8.1(b) have been satisfied;

 

(iii) evidence
of the issuance to the Paying Agent of such portion of the Closing Consideration (in Purchaser Share Consideration) as set out in Section
2.7(c)(vi);

 

(iv) evidence
of the issuance of the Indemnity Escrow Amount to the Escrow Agent;

 

(v) an
opinion of Amit, Pollak Matalon & Co. addressed to the Equity Holders and dated as of the Closing, substantially in the form of Exhibit
F attached hereto; and

 

(vi) a
certificate of the Chief Executive Officer of the Purchaser, certifying as true, correct and complete, together with copies of, the following:
(A) each Organizational Document of the Purchaser and the Merger Sub, including each such party’s Articles of Association; and (B)
the resolutions of each of the Purchaser’s and the Merger Sub’s boards of directors authorizing the execution, delivery and
performance of this Agreement and any other documents delivered by such party hereunder.

 

(b) At
the Closing the Company shall execute and/or deliver or cause to be delivered to Purchaser all of the following:

 

(i) the
Escrow and Paying Agent Agreement, duly executed by the Company and the Equityholder Representative;

 

(ii)
written acknowledgments pursuant to which the Persons, including those identified in Schedule 2.9(b)(ii), who performed services
for or on behalf of, or provided advice to the Company and who are entitled to compensation from the Company or the US Subsidiary, in
connection with this Agreement, any of the transactions contemplated by this Agreement or is otherwise owed any amount which is part of
the Transaction Expenses (calculated to include any amounts that only become payable if the Closing occurs) (the “Transaction
Expense Amount”) has been paid in full and is not (and will not be) owed any other amount by the Company or any Affiliate thereof
with respect to this Agreement any of the transactions contemplated by this Agreement or otherwise;

 

(iii) a
certificate of the Chief Executive Officer of the Company certifying as true, correct and complete the following: (A) a copy of each Organizational
Document of the Company, including the Company Charter; (B) a copy of the resolutions of the Company’s board of directors, in the
form of Exhibit D attached hereto, authorizing the execution, delivery and performance of this Agreement and any other documents
delivered by the Company hereunder, and (C) minutes or written resolutions evidencing the Shareholder Approval;

 

    10

     

    

 

(iv) a
certificate executed by the Company confirming that the conditions set forth in ‎Section 8.2(a),
‎Section 8.2(b) and Section 8.2(c) have been satisfied and representing
and warranting to Purchaser the amount of Closing Indebtedness and the Transaction Expense Amount set forth in the Closing Consideration
Certificate;

 

(v) a
resignation letter, effective as of the Effective Time, of each director and/or officer of the Company that has been requested by Purchaser;

 

(vi) the
Payout Spreadsheet, duly certified by, and the amounts set forth therein as payable in respect of the Ordinary Shares of the Company,
the Preferred C Shares, the Preferred B Shares, the Preferred A Shares, the Company Warrants and the Company Outstanding Instruments,
represented and warranted to by, the Chief Executive Officer of the Company;

 

(vii)
an opinion of Horn & Co. addressed to the Purchaser and dated as of the Closing, in the form of Exhibit E attached hereto;

 

(viii) transfer
to the Equityholder Representative of the Expense Fund Amount;

 

(ix) evidence
reasonably satisfactory to Purchaser of the termination, effective prior to the Effective Time, of all Contracts between the Company and
a Related Party of the Company, including all Rights Agreements and all Shareholder Agreements, which do not by their terms terminate
automatically at Closing.

 

Section 2.10 Post-Closing
Payments; Deferred Closing Payments.

 

(a) Within
15 days of each Milestone Achievement Date with respect to a Milestone which has been successfully achieved, Purchaser shall pay an amount
in Purchaser Share Consideration (valued at the Purchaser Share Consideration Price) that is equal to, with respect to such Milestone
(subject to deduction in accordance with this Agreement), such percentage of the aggregate Earn-out Consideration listed next to such
Milestone in the Milestone Schedule (each such portion of the Earn-out Consideration to be paid upon the successful achievement of a Milestone,
the “Earn-out Payment Amount”). Each Earn-out Payment Amount shall be issued and deposited, within the said 15 days
of the Milestone Achievement Date, with the Paying Agent for the benefit of and distribution to the Equityholders pursuant to the updated
Payout Spreadsheet, provided, however, that the provisions of Sections 2.7(d) through (i), shall
apply with respect to the payment and distribution of each Earn-out Payment Amount.

 

(b) Subject
to the execution of each Designated Commercial Agreement (a “Deferred Closing Payment Date”) defined below on or prior
to the lapse of the 6-month period following the date hereof (the “Deferred Closing Final Date”), the Purchaser shall
pay an amount, in Purchaser Share Consideration (valued at the Purchaser Share Consideration Price) that is equal to, an amount of $5,333,333.33,
for each of the Designated Commercial Agreements (as defined below), which results in an aggregate amount of up to $16,000,000 (prior
to the deductions specified below), which was duly executed (by all relevant parties) following the date hereof and prior to the Deferred
Closing Final Date. The Purchaser shall deduct $2,000,000 from each payment of $5,333,333.333 for a Designated Commercial Agreement (and
$6,000,000 in aggregate, assuming all Designated Commercial Agreements are executed (the “Deduction Amount”) on account
of certain Company’s indebtedness and cash shortfall (the amount actually required to be paid under this sub-Section (b) shall be referred
hereto as the “Deferred Closing Consideration”. The Deferred Closing Consideration will be paid within 15 days of the
execution of each Designated Commercial Agreement in accordance with this Section 2.10(b) but in any event not prior to the Closing. It
is agreed that the Purchaser will deduct from the Earn-out Consideration any portion of the Deduction Amount not previously deducted due
to the failure to execute any or all of the Designated Commercial Agreements as specified above (the “Deduction Amount Shortfall”).
For illustration purposes, if two Designated Commercial Agreements are executed, the Deduction Amount Shortfall shall be $2,000,000. The
deduction of the Deduction Amount Shortfall shall be made from the Earn-out Consideration derived from all Milestones achieved following
the Deferred Closing Payment Date pro rata, such that upon achievement of each Milestone, Purchaser shall be entitled to deduct a percentage
of the Deduction Amount Shortfall equal to the percentage attributed to the applicable Milestone.

 

    11

     

    

 

For the purpose hereof, the term “Designated
Commercial Agreements” shall mean commercial agreements between the Company and (i) IHC Health Services, Inc., which provides
for software license and provision of services by the Company to IHC, (ii) DePuy Ireland Unlimited Company, which provides an amendment
to the existing Development and License Agreement dated December 9, 2019 to include a refinement of the product specification, feasibility
and the development milestones, and (iii) The Secretary of State for Health and Social Care, which provides for evaluation project funded
by the UK National Health Service, for utilization of AI-enabled vertebral fracture pathway to prevent osteoporotic fractures.

 

Section 2.11 Notice
of a Failure to Achieve a Milestone.

 

(a) Within
7 days after each Milestone Target Date, Purchaser shall notify, along with the provisions supporting documentation if and to the extent
applicable or available, to the Equityholder Representative, on the achievement or non-achievement of the respective Milestone for which
such Milestone Target Date has been set (in the case that such notice refers to the non-achievement of such Milestone, it shall be referred
hereto as the “Milestone Failure Notification”.

 

Section 2.12 Disputes
Regarding the Achievement of a Milestone.

 

The Equityholder Representative
shall have from the time upon which a Milestone Failure Notification is delivered to it until 5:00 p.m., Eastern time, on the date 21
days after the date of such delivery (the “Milestone Dispute Period” or the “Dispute Period”) to
dispute the non-achievement of a Milestone (the “Milestone Dispute” or the “Dispute”). In the case
that the Milestone Failure Notification was provided with respect to a Milestone, then the Equityholder Representative and its advisors
and representatives shall have reasonable access during regular business hours to the books and records (in electronic format, if available)
of the Company and the Surviving Corporation reasonably relevant to Purchaser’s conclusion that the applicable Milestone has not
been successfully achieved. The Equityholder Representative and its representatives may make inquiries of Purchaser and the Company regarding
questions concerning, or disagreements with, the Milestone Failure Notification arising in their review thereof, and Purchaser shall use
its, and shall cause the Surviving Company to use its, commercially reasonable efforts to cooperate with and respond to such inquiries.
If the Equityholder Representative does not deliver to the Purchaser within the Milestone Dispute Period a written notice of the Milestone
Dispute that sets forth in reasonable detail the elements and amounts with which the Equityholder Representative disagrees (a “Milestone
Dispute Notice” or a “Dispute Notice”), the Milestone Failure Notification shall be deemed to have been accepted
and agreed to by the Equityholder Representative in the form in which it was delivered by Purchaser and it shall be final and binding
upon the parties. If Equityholder Representative delivers a Milestone Dispute Notice to the Purchaser within the Milestone Dispute Period,
Purchaser and the Equityholder Representative shall use reasonable efforts to resolve the Milestone Dispute and agree in writing upon
the final conclusion of the disputed Milestone within 30 days after delivery of such Milestone Dispute Notice (the “Milestone
Dispute Objection Period” or a “Dispute Objection Period”).

 

(a) If
Purchaser agrees with the objection of the Equityholder Representative and Equityholder Representative’s claims that a Milestone
has been successfully achieved, and expressly confirms such agreement by delivery of written notice of the same delivered to the Equityholder
Representative, then the agreement of the Purchaser and the Equityholder Representative that the Milestone referred to in the Milestone
Failure Notice has been achieved will be final and binding upon the parties. If Purchaser and the Equityholder Representative are unable
to resolve each element of the applicable Dispute within the applicable Dispute Objection Period, then Purchaser will, within 15 days
after expiration of the applicable Dispute Objection Period, notify the Equityholder Representative in writing of its disagreement, which
notice will set forth in reasonable detail the elements and amounts, if applicable, with which Purchaser disagrees (the “Dispute
Response”). If Purchaser does not deliver to the Equityholder Representative within such 15-day period a Dispute Response, then
the Milestone shall be deemed to have been achieved. If Purchaser timely delivers the Dispute Response, Purchaser and the Equityholder
Representative shall jointly engage the Israeli branch of an internationally recognized certified public accounting firm that has not
performed material accounting, tax or auditing services for Purchaser, the Equityholder Representative, or the Company during the three
years immediately prior to such engagement (the “Arbitrating Accountant”). If Purchaser and the Equityholder Representative
are unable to agree on the identity of the Arbitrating Accountant, the accountants designated by each of Purchaser and the Equityholder
Representative shall jointly select the Arbitrating Accountant. Each of Purchaser and the Equityholder Representative agrees to use its
commercially reasonable efforts to cooperate with the Arbitrating Accountant and to cause the Arbitrating Accountant to resolve any such
dispute as soon as practicable after the commencement of the Arbitrating Accountant’s engagement. The Arbitrating Accountant’s
function shall be to resolve each element of the Dispute that has not been resolved by Purchaser and the Equityholder Representative as
an accounting expert and not as an arbitrator, decide whether the Milestone has been achieved or not.

 

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(b) In
connection with the resolution of the Dispute, the Arbitrating Accountant will limit its review to the positions of the parties set out
in the Dispute Notice and the Dispute Response. The Arbitrating Accountant may, at its discretion, conduct a conference concerning the
Dispute, at which conference Purchaser and the Equityholder Representative shall have the right to present additional documents, materials
and other information and to have present their respective advisors, counsel and accountants; provided that, Purchaser and the
Equityholder Representative will be limited by their respective positions in the Dispute Notice and the Dispute Response; and provided
that, the Arbitrating Accountant shall not rely on or consider any other documents, materials, presentations or evidence regarding
the intent or agreement of the parties (other than the plain language of the Agreement) in making a determination. In connection with
the resolution of the Dispute, there shall be no other hearings or oral examinations, testimony, depositions, discovery or other similar
proceedings. Each of Purchaser and the Equityholder Representative shall make available to the other party and the Arbitrating Accountant,
as the case may be, such documents, books, records, work papers, facilities, personnel and other information as such party or the Arbitrating
Accountant may reasonably request to review the resolution which underlies the Milestone Failure Notice and to resolve the applicable
Dispute.

 

(c) The
Arbitrating Accountant shall as promptly as possible, and in any event within 30 days after the date of its appointment, render its decision
on each element in the Dispute in writing to Purchaser and the Equityholder Representative, together with a resolution as to whether the
Milestone has been achieved or not. In resolving the Dispute, the Arbitrating Accountant shall be bound by the provisions of this Agreement
Each of the Arbitrating Accountant’s decision, the revised calculation of the Merger Consideration (where applicable) and the decision
as to whether the Milestone has been achieved or not, shall be final and binding upon the parties, and judgment may be entered on the
award. The Arbitrating Accountant shall determine the proportion of its fees and expenses to be paid by the Equityholder Representative,
on the one hand, and Purchaser, on the other hand, based on the degree to which the Arbitrating Accountant has accepted the positions
of the respective parties. Notwithstanding the foregoing, each of Purchaser and Equityholder Representative (on behalf of the Equityholders
and which may be paid out of the Expense Fund to the extent available) will be responsible for paying the fees, costs and expenses of
their respective attorneys, accountants and other representatives in connection with the Dispute.

 

 

Article III

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The Company hereby makes the
representations and warranties to Purchaser that are set forth in this ‎Article III as of the date hereof and as of the
Closing Date (except to the extent that such representations and warranties speak as of a specific date, in which case such representations
and warranties are and will be complete and accurate as of such specific date), except as set forth in the disclosure schedule provided
by Company to the Purchaser, as of the date hereof (the “Disclosure Schedules”).

 

Section 3.1 Organization,
Existence and Good Standing. The Company is a corporation duly organized and validly existing under the laws of Israel and the Company
is not registered by the Companies Registrar under the status of a “Violating Company” in the meaning of Section 362a of the
provisions of the ICL, and it has not received any written notice or warning concerning any intention of the Companies Registrar to register
and/or declare the Company as a “Violating Company”. The Company is in good standing, under the laws of, and is licensed to
do business in, all jurisdictions where the nature of its business or the nature or location of its assets requires such qualification,
except such jurisdictions where the failure to be so qualified or licensed or in good standing would not, individually or in the aggregate,
(a) result in or be reasonably expected to have a Material Adverse Effect or (b) materially and adversely affect the ability of the Company
to consummate the transactions contemplated by this Agreement. The Company has heretofore made available to Purchaser complete and accurate
copies of all Organizational Documents of the Company as currently in effect (including all amendments made thereto at any time on or
before the date hereof) and the Company is not in default under or in violation of any provision thereunder.

 

Section 3.2 Power
and Authority.

 

(a) The
Company has full power and authority to enter into, deliver, and perform this Agreement and the other Transaction Documents to which it
is a party. The execution, delivery and performance of this Agreement and the other Transaction Documents to which it is a party by the
Company and the consummation by the Company of the transactions contemplated by this Agreement and the other Transaction Documents to
which it is a party have been duly and validly approved by the board of directors of the Company and, upon receipt of the Shareholder
Approval, will have been duly and validly approved by the Shareholders. Other than the Shareholder Approval, no other proceedings are
necessary on the part of the Company to authorize the execution, delivery and performance of this Agreement and the other Transaction
Documents to which the Company is a party and the consummation by the Company of the transactions contemplated herein or therein.

 

(b) The
Board of Directors of the Company has (i) determined that this Agreement, the Transaction Documents to which the Company is to be
a party and the consummation by the Company of the transactions contemplated hereby and thereby, including the Merger, are fair to, advisable
and in the best interests of the Shareholders of the Company, (ii) approved and adopted this Agreement, the Transaction Documents
to which the Company is to be a party and the consummation by the Company of the transactions contemplated hereby and thereby, including
the Merger, (iii) resolved to recommend approval and adoption of this Agreement and the Merger by the Shareholders and (iv) directed
that this Agreement and the Merger be submitted to the Shareholders for their approval and adoption immediately following the execution
hereof. The only votes or consents required to obtain the Shareholder Approval are set forth on Schedule 3.2(b). Other than as
set forth on such Schedule 3.2(b), no other proceedings or actions on the part of the Company or any of its Shareholders are necessary
to obtain the Shareholder Approval.

 

    13

     

    

 

Section 3.3 Enforceability.
This Agreement has been duly authorized, executed and delivered by the Company and, assuming (i) due authorization, execution and delivery
by the other parties and (ii) the Shareholder Approval being obtained, constitutes a legal, valid and binding obligation of the Company,
enforceable against the Company in accordance with its terms, except to the extent enforcement may be affected by Laws relating to bankruptcy,
reorganization, insolvency and creditors’ rights and by the availability of injunctive relief, specific performance and other equitable
remedies. At the Closing, the Transaction Documents to be executed and delivered by the Company will have been duly executed and delivered
by duly authorized officers or other signatories of the Company and, assuming (i) due authorization, execution and delivery by the other
parties thereto and (ii) the Shareholder Approval being obtained, will constitute valid and binding obligations of the Company, enforceable
in accordance with their terms, except to the extent enforcement may be affected by Laws relating to bankruptcy, reorganization, insolvency
and creditors’ rights and by the availability of injunctive relief, specific performance and other equitable remedies.

 

Section 3.4 Consents;
Non-contravention. The Company does not need to give any notice to, make any filing with or obtain any authorization, consent, Order
or approval of any Governmental Entity in connection with the execution and delivery of this Agreement and the other Transaction Documents
or the consummation of the transactions contemplated herein and therein. Except as set forth in Schedule 3.4, neither the execution,
delivery and performance of this Agreement and the other Transaction Documents, nor the consummation of the transactions contemplated
herein and therein will: (a) violate any provision of the Company’s Organizational Documents; (b) require any consent of or notification
to any third party, conflict with, result in a breach of, or constitute a default or an event creating rights of acceleration, termination,
modification or cancellation or a loss of rights under, any Material Contract or material Permit to which the Company is a party, subject
or otherwise bound; (c) the Company’s Knowledge, violate any Law or Order to which the Company or any of its assets or businesses
is subject or otherwise bound; or (d) result in the creation or imposition of any Lien (other than Permitted Liens) upon any of the assets
or businesses of the Company or any of the Company Shares, except with respect to (b), (c) and (d), where such breach, default, violation
or creation or imposition of any Lien (other than Permitted Liens) would not individually or in the aggregate result or be reasonably
expected to result in a Material Adverse Effect.

 

Section 3.5 Capitalization.

 

(a) The
authorized share capital of the Company consists solely of 8,500,000 Ordinary Shares of the Company, 3,000,000 Preferred C Shares, 1,300,000
Preferred B Shares and 1,500,000 Preferred A Shares. The issued and outstanding share capital of the Company consists solely of 1,577,2891
Ordinary Shares of the Company, 1,353,248 Preferred C Shares, 734,947 Preferred B Shares, and 957,896 Preferred A Shares. There are no
shares of share capital of the Company of any other class authorized, issued or outstanding. All of the issued and outstanding Company
Shares have been validly issued, are fully paid and non-assessable, and, except as set forth on Schedule 3.5(a)(i), are not
subject to, nor were they issued in violation of, any purchase or call option, preemptive rights, rights of first refusal or similar right.
Schedule 3.5(a)(ii) sets forth, with respect to the Company Shares, the record and beneficial owners thereof as of the date hereof,
the number of each type of Company Shares held by each such owner (including the number of Ordinary Shares of the Company into which such
Company Shares are convertible), and whether any such Company Shares are unvested or subject to a repurchase option, risk of forfeiture
or other contractual right as of the date of this Agreement, and with respect to the Company Convertible Instruments, the Company Shares
which holders of the Company Convertible Instruments are entitled to receive upon conversion thereof pursuant to the consummation of the
transactions contemplated in this Agreement. Each Shareholder holds his, her or its Company Shares free and clear of all Liens. Schedule
3.5(a)(iii) sets forth the number of Ordinary Shares of the Company into which each Preferred C Share, Preferred B Share and Preferred
A Share, respectively, is convertible as of immediately prior to the Closing pursuant to the Company Charter.

 

 

		1	Slight
changes may be required due to options exercise

 

    14

     

    

 

(b) Other
than the Company Convertible Instruments set forth in Schedule 3.5(b) and the Company Warrants, there are no outstanding subscriptions,
options, warrants, convertible securities, puts, calls, rights to subscribe, conversion rights, or other agreements, rights or commitments
of any character relating to the issued or unissued share capital or other securities of the Company by which the Company is bound.

 

(c) As
of the date of this Agreement, there exist no in-the-money outstanding Company Options issued to participants pursuant to the Company
Incentive Plan, which is the only option or equity compensation plan currently sponsored by the Company, other than as set forth in Schedule
3.5(c). Other than as set forth in Schedule 3.5(c), the Company Incentive Plan constitutes the only Contract of the Company
pursuant to which the Company has or may grant, make or issue options, calls, rights, convertible securities, commitments or agreements
of any character, written or oral, to which the Company is a party or by which the Company is bound, obligating the Company to issue,
deliver, sell, repurchase or redeem, or cause to be issued, delivered, sold, repurchased or redeemed, any shares of Ordinary Shares of
the Company. The Company has furnished to Purchaser complete and accurate copies of the forms of agreements and instruments relating to
or issued under the Company Incentive Plan, including all exhibit, attachments, amendments, modifications, and supplements thereto, as
well as complete and accurate copies of any individual agreements or instruments which deviate from the provided forms of agreements and
instruments.

 

(d) Except
as set forth on Schedule 3.5(d), to the Company's Knowledge there are no voting trusts, voting agreements, investors rights agreements,
proxies, stockholder agreements or other agreements that may affect the voting or transfer of the Company Shares (including agreements
relating to rights of first refusal, “co-sale” rights, “drag-along” rights or registration rights) of any Company
Shares, or any other investor rights, including rights of participation (i.e., pre-emptive rights), voting, board observation, information
or operational covenants (collectively, the “Rights Agreements”).

 

(e) The
Company is not subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any of its Equity Interests.
No former holder of any Equity Interests of the Company has asserted any claim or rights against the Company or any Shareholder that remains
unresolved and, to the Company’s Knowledge, no such claim is threatened. The Company has no right or obligation (contingent or otherwise)
to acquire any direct or indirect equity ownership in, or to make any investment (in the form of a loan, capital contribution or otherwise)
in any Person.

 

(f) Schedule
3.5(f) sets forth all of the Indebtedness of the Company. The Company is not in default or otherwise in breach of any Contracts pursuant
to which Indebtedness was issued to the Company. Other than as set forth in Schedule 3.5(f), no holder of Indebtedness has any right (i) to
convert or exchange such Indebtedness for any Equity Interests of the Company or (ii) to vote for the election of directors of the
Company or to vote on any other matter.

 

(g) The
Purchaser Share Consideration issued to the holders of the Company Shares and Company Warrants under Section 2.2 and as set forth
on the Payout Spreadsheet will be calculated and will be issued (when issued in accordance with and subject to the terms of this Agreement)
in accordance with and subject to all terms of the Organizational Documents of the Company as in effect on the date hereof and on and
as of the Effective Time, all applicable Laws and any other Contractual requirements on the part of the Company. No holder is entitled
to any treatment of its Company Shares and Company Warrants as applicable, other than as provided in this Agreement.

 

(h) Upon
and subject to Closing, any agreement pursuant to which holder of Company Warrants is granted a right to purchase any Company Shares,
and all Company Warrants held by holder of Company Warrants, shall be cancelled and have no further force and effect.

 

    15

     

    

 

Section 3.6 Subsidiaries.

 

(a) Except
for Zebra Medical Vision, Inc, a Delaware corporation and wholly owned Subsidiary of the Company (the “US Subsidiary”),
the Company does not have any Subsidiaries and except as set forth in Schedule 3.6(a) has never had any other Subsidiaries. Other than
with respect to the US Subsidiary, the Company does not own any Equity Interests or other securities of, or any equity, voting, financial
or ownership interest in, any entity.

 

(b) The
Company owns, beneficially and of record, all of the issued and outstanding stock capital of the US Subsidiary, and all the rights thereto
free and clear of liens, claims, charges, encumbrances, restrictions, rights, options to purchase, proxies, voting trust or other voting
agreements.

 

(c) All
issued and outstanding share capital of the US Subsidiary has been duly authorized, and is validly issued and outstanding and fully paid
and was issued in accordance with the registration and qualification provisions of all applicable laws.

 

(d) The
US Subsidiary is duly organized, validly existing and in good standing under the applicable laws of the State of Delaware, and has full
corporate power and authority to own its assets and to conduct its business. The US Subsidiary is qualified to do business and the Company
is not aware of any reason or factor which may prevent the US Subsidiary from being in good standing wherever the nature of such US Subsidiary’s
business is being conducted. The US Subsidiary has not taken or failed to take any action, which action or failure would preclude or prevent
it from conducting its business after the Closing Date in the manner heretofore conducted or as proposed to be conducted prior to the
Closing Date.

 

(e) The
US Subsidiary does not own Equity Interests or other securities of, or any equity, voting, financial or ownership interest in, any entity.

 

(f) All
of the corporate rights in and to the US Subsidiary are held by, and vested in, the Company.

 

(g) Any
representation provided in this Article III with respect to the Company shall, where applicable, be deemed to have been provided, mutatis
mutandis, with respect to the US Subsidiary, unless explicitly excluded herein (for purpose of clarification, the mere reference to
the Company itself (without adding a reference to the US Subsidiary) shall not be deemed an explicit exclusion for the purpose hereof).

 

Section 3.7 Financial
Statements.

 

(a) Attached
as Schedule 3.7(a) are complete and accurate copies of (i) the audited consolidated balance sheets and related statements of operations,
stockholders’ equity and cash flows (together with any notes thereto) of the Company as of and for the years ended December 31,
2018 and 2019 (the “Audited Financial Statements”), (ii) an unaudited consolidated balance sheet and related statements
of operations, stockholders’ equity and cash flows (together with any notes thereto) of the Company as of and for the years ended
December 31, 2020 (the “Unaudited Financial Statements”), and (iii) the unaudited but reviewed consolidated balance
sheet and related statements of operations, stockholders’ equity and cash flows (together with any notes thereto) of the Company
as of and for the 5-month period ended May 31, 2021 (the “Interim Financial Statements” and, together with the Audited
Financial Statements and the Unaudited Financial Statements, the “Financial Statements”). The Financial Statements
(A) are consistent with and derived from the monthly books and records of the Company, (B) were prepared in accordance with US GAAP consistently
applied through the periods covered thereby and (C) present fairly, in all material respects, the financial position of the Company as
of the dates thereof and the results of operations and cash flows of the Company for the periods covered by such statements, in accordance
with US GAAP consistently applied through the periods covered thereby, except as disclosed therein.

 

    16

     

    

 

(b) Complete
and accurate copies of the books of account, share record books, minute books, bank accounts, and other corporate records of the Company
in the Company’s possession have been made available by the Company to Purchaser, and such books and records have been maintained
in accordance with good business practices. The minute books of the Company contain accurate and complete records of all material meetings
held, and material action taken, by the Shareholders, the Company’s board of directors, and the committees of the Company’s
board of directors, and no material meeting of the Shareholders, board of directors, or committee has been held for which minutes have
not been prepared and are not contained in such minute books. At the Closing, all of those books and records will be in the possession
of the Company.

 

(c) The
Company maintains adequate internal accounting controls which ensure that (i) transactions are executed with management’s authorization;
(ii) transactions are recorded as necessary to permit preparation of the Company’s financial statements and to maintain accountability
for its assets; (iii) access to its assets is permitted only in accordance with management’s authorization; (iv) the reporting
of its assets is compared with existing assets at regular intervals; and (v) accounts, notes and other receivables and inventory
are recorded accurately, and proper and adequate procedures are implemented to affect the collection and/or valuation thereof on a current
and timely basis.

 

Section 3.8 Undisclosed
Liabilities; Indebtedness. The Company does not have any Liabilities other than Liabilities: (a) set forth on the balance sheet
in the Interim Financial Statements and not discharged subsequent to the date of the Interim Financial Statements; (b) for Transaction
Expenses that will be paid by the Company at the Closing in accordance with the terms of this Agreement; (c) incurred by the Company
subsequent to the date of the Interim Financial Statements in the ordinary course of business consistent with past practices and not discharged
subsequent to the date of the Interim Financial Statements; or (d) with respect to future performance (and not breach) under the
executory portion of any Material Contract by which the Company is bound and that was entered into in the ordinary course of the business
consistent with past practices, in the cases of each of (c) and (d), none of which is or may reasonably be expected to be (individually
or in combination with any other Liability) material to the Company. The Company is not a party to, nor does the Company have any commitment
to become a party to, any joint venture, off-balance sheet partnership or any similar contract or any off-balance sheet arrangements where
the purpose or intended effect of such contract or arrangement is to avoid disclosure of any transaction involving, or liabilities of,
the Company in the Financial Statements.

 

Section 3.9 Assets.

 

(a) The
Company is the sole owner of all right, title, and interest in and to all assets reflected as being owned by it in the Interim Financial
Statements and all other assets and property, real and personal, tangible and intangible owned, held or used by it, other than (i) any
property or assets leased to the Company or (ii) Intellectual Property licensed to the Company (collectively, the “Assets”
and, together with (A) all property or assets leased to the Company and (B) Intellectual Property licensed to the Company, the “Property”),
and, except as set forth on Schedule 3.9(a) and other than pursuant to the express terms of any license agreement pursuant to which
Intellectual Property is licensed to the Company, there exists no restriction on the use or transfer of the Property. Other than set forth
in Schedule 3.9(a), no Property is in the possession of others and the Company does not hold any property on consignment. The Company
has (I) good title to all of the Assets owned by it, free and clear of all Liens, other than Permitted Liens, and (II) a valid leasehold
interest in all of the leased Property or a valid license right to use all of the licensed Property, free and clear of all Liens. Upon
the Closing, the Company shall continue to be vested with good title to, or a valid leasehold interest or license right interest in, the
Property.

 

(b) All
of the tangible Property has been maintained in accordance with normal industry practice, is in good operating condition and repair (subject
to normal wear and tear), and is suitable for the purposes for which it is presently used.

 

    17

     

    

 

Section 3.10 Taxes.

 

(a) The
Company has properly completed and timely filed all income and other material Tax Returns required to be filed by it prior to the Closing
Date, has timely paid all material Taxes required to be paid by them (whether or not shown on any Tax Return), and has no material Liability
for Taxes in excess of the amounts so paid other than Taxes that are not yet due or that are being contested in good faith in appropriate
proceedings. All such Tax Returns were materially complete and accurate and have been prepared in material compliance with applicable
Law. There is no written claim for Taxes being asserted against the Company that has resulted in a Lien against any of the assets of the
Company.

 

(b) The
Company has made available to Purchaser true, correct and complete copies of (i) all material Tax Returns filed, examination reports and
statements of deficiencies, adjustments and proposed deficiencies and adjustments in respect of the Company, (ii) any audit report, ruling,
decision, closing or settlement agreement, technical advice memorandum, tax holiday or similar document issued since the inception of
each of the Company (or otherwise with respect to any audit or proceeding in progress) relating to Taxes of the Company, (iii) any examination
reports, and statements of deficiencies assessed against or agreed to by the Company, and (iv) all material written communications to,
or received by the Company from any Tax authority, and (v) all Tax opinions and legal memoranda and similar documents for the Company,
in each case under (ii) to (v), for all taxable periods or all tax years with respect to which the applicable statute of limitations has
not expired. No election has been made with respect to Taxes of the Company in any Tax return that has not been made available to Buyer.

 

(c) The
Financial Statements reflect all Liabilities for unpaid Taxes of the Company. The Company does not have any Liability for Taxes that is
not included in the Financial Statements.

 

(d) There
is (i) no past or pending audit of, or Tax controversy associated with, any Tax Return of the Company that has been or is being conducted
by a Tax Authority, (ii) no other procedure, proceeding or contest of any refund or deficiency in respect of Taxes pending or on appeal
with any Governmental Entity, (iii) no extension of any statute of limitations on the assessment of any Taxes granted by the Company currently
in effect and (iv) no agreement to any extension of time for filing any Tax Return that has not been filed. No claim has ever been
made by any Governmental Entity in writing in a jurisdiction where the Company do not file Tax Returns that the Company is or may be subject
to taxation by that jurisdiction.

 

(e) The
Company has complied in all material respects with all applicable Laws relating to the payment and withholding of Taxes, including from
payments made or deemed made to employees, suppliers, lenders, SAFEs or any other Persons (including, without limitation, with respect
to the Company Convertible Instruments and any applicable withholding in connection with the conversion thereof) and has duly and
timely withheld and paid over to the appropriate Tax Authority all amounts required to be so withheld and paid under all applicable Laws.
The Company is in compliance with, and its records contain all information and documents necessary to comply with, all applicable information
reporting and withholding requirements under all applicable Tax laws.

 

(f) The
Company has duly withheld and deducted all of the amounts required to be paid by the Company on account of the issuance of the shares
pursuant to convertible instruments, or was otherwise exempted from such requirement.

 

(g) The
Company is duly registered for the purposes of Israeli value added tax and has complied in all material respects with all requirements
concerning value added Taxes (“VAT”). The Company (i) has not made any exempt transactions (as defined in the Israel
Value Added Tax law of 1975) and there are no circumstances by reason of which there might not be an entitlement to full credit of all
VAT chargeable or paid on inputs, supplies, and other transactions and imports made by it, (ii) has collected and timely remitted to the
relevant Tax Authority all output VAT which it is required to collect and remit under any applicable Law; and (iii) has not received a
refund for input VAT for which it is not entitled under any applicable Law.

 

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(h) The
Company is not subject to any restrictions or limitations pursuant to Part E2 of the Ordinance or pursuant to any Tax ruling made with
reference to the provisions of Part E2.

 

(i) The
Company does not and has never participated or engaged in any transaction listed in Section 131(g) of the Ordinance and the Israeli Income
Tax Regulations (Reportable Tax Planning), 5767-2006 promulgated thereunder nor is it subject to reporting obligations under Sections
131D or 131E of the Ordinance or Sections 67C and 67D or similar provisions under the Israel Value Added Tax law of 1975.

 

(j) The
Company is not and has never been a real property corporation (Igud Mekarke’in) within the meaning of this term under Section 1
of the Israeli Land Taxation Law (Appreciation and Acquisition), 5723-1963.

 

(k) The
Company is a resident for Tax purposes solely in its country of incorporation, and the Company is not and has never been subject to Tax
in any jurisdiction other than its country of incorporation whether by virtue of having employees, a permanent establishment (within the
meaning of an applicable Tax treaty), any other place of business in such jurisdiction or by virtue of exercising management and control
in such jurisdiction. The Company is not, and has never been, treated as engaged in the conduct of a “trade or business” within
the United States for purposes of Sections 875, 882, 884 or 1446 of the Code.

 

(l) Schedule 3.10(k)
of the Disclosure Schedules sets forth a true, correct and complete list of any Tax exemption, Tax holiday or other Tax-sharing arrangement
or order that the Company has in any jurisdiction, including the nature, amount and expiration date of such Tax exemption, Tax holiday
or other Tax-sharing arrangement. The Company is in compliance with all terms and conditions required to maintain such Tax exemption,
Tax holiday or other Tax-sharing arrangement or order of any relevant Governmental Entity and, to the Knowledge of the Company, the consummation
of the transactions contemplated hereby will not have any adverse effect on the continuing validity and effectiveness of any such Tax
exemption, Tax holiday or other Tax-sharing arrangement or order. The Company has never made any election to be treated or claimed any
benefits as “Beneficial Enterprise” (Mifaal Mutay) or otherwise nor did it take any position of being a “Preferred Enterprise”
(Mifaal Muadaf) or “Preferred Technological Enterprise” or otherwise under the Law for Encouragement of Capital Investments,
1959. The Company has not taken any position, or represented to any person, that it meets the requirements under the so called “The
Angels Law” pursuant to Section 20 of the 2011-2012 Economic Policy Law (Legislation Amendments), 2011 and any amendments thereto.

 

(m) The
Company has made available to Purchaser all documentation relating to any applicable Tax incentives. The Company and is in compliance
with all the material requirements of all such Tax incentives and none of the incentives will be jeopardized by the consummation of the
Merger.

 

(n) The
Company has not been and will not be required to include any adjustment in Taxable income for any Tax period (or portion thereof) pursuant
to Section 481 or 263A of the Code or any comparable provision under state, local or foreign Tax laws as a result of transactions,
events or accounting methods employed prior to the Closing.

 

(o) The
Company does not own any interest in any controlled foreign corporation pursuant to Section 75B of the Ordinance, or other entity
the income of which is required to be included in the income of the Company. The Company is not and has never been a controlled foreign
corporation (as defined in Section 957 of the Code) or passive foreign investment company (as defined in Section 1297 of the Code).

 

(p) The
Company (i) is not a party to or bound by any Tax sharing, Tax indemnity, or Tax allocation agreement or (ii) does not have any Liability
or potential Liability to another party under any such agreement, other than customary provisions in any commercial agreement entered
into in the ordinary course of business that does not primarily relate to Tax matters.

 

    19

     

    

 

(q) The
Company has not taken a position in any Tax Return that would reasonably be expected to result in the imposition of penalties under Section 6662
of the Code (to the extent applicable) or any comparable provisions of state, local or foreign applicable Law.

 

(r) The
Company has not participated in, and is not currently participating in, a “Listed Transaction” or a “Reportable Transaction”
within the meaning of Section 6707A(c) of the Code or Treasury Regulation Section 1.6011-4(b), or any transaction requiring
disclosure under a corresponding or similar provision of state, local, or foreign law (including Section 131(g) of the Ordinance).

 

(s) Neither
the Company nor any predecessor of the Company is or has ever been a member of a consolidated, combined, unitary or aggregate group of
which the Company or any predecessor of the Company was not the ultimate parent corporation.

 

(t) The
Company does not have any Liability for the Taxes of any Person (other than the Company) under Section 1.1502-6 of the Treasury Regulations
(or any similar provision of state, local or foreign law), as a transferee or successor, by operation of applicable Law, by Contract or
otherwise.

 

(u) The
Company will not be required to include any item of income in, or exclude any item of deduction from, Taxable income for any Taxable period
(or portion thereof) ending after the Closing Date as a result of any (i) change in method of accounting for a Taxable period ending on
or prior to the Closing Date, (ii) “closing agreement” described in Section 7121 of the Code (or any corresponding or
similar provision of state, local, or foreign Tax law) executed on or prior to the Closing Date, (iii) intercompany transactions (including
any intercompany transaction subject to section 367 or 482 of the Code) or any excess loss account described in Treasury Regulations under
Section 1502 of the Code (or any corresponding or similar provision of state, local, or foreign Tax law) with respect to a transaction
occurring on or prior to the Closing Date, (iv) installment sale or open transaction disposition made on or prior to the Closing Date,
(v) election under Section 108(i) of the Code made on or prior to the Closing Date or (vi) prepaid amount received on or prior to the
Closing Date.

 

(v) Other
than as set forth in Schedule 3.10(u), the Company has not received any private letter ruling from the IRS (or any comparable Tax ruling
from any other Governmental Entity).

 

(w) The
Company is not a party to any joint venture, partnership or other Contract or arrangement that could be treated as a partnership for U.S.
federal income Tax purposes.

 

(x) The
Company has not received any official foreign government receipts for any Taxes paid by it to any foreign Tax Authorities for which receipts
have been provided or are customarily provided.

 

(y) The
Company is not, and it has never been, a “United States real property holding corporation” within the meaning of Section 897
of the Code, and the Company is not subject to Section 1.897-2(h) of the Treasury Regulations.

 

(z) The
Company has not constituted either a “distributing corporation” or a “controlled corporation” in a distribution
of share intended to qualify for Tax-free treatment under Section 355 of the Code (i) in the two years prior to the Agreement
Date or (ii) in a distribution that could otherwise constitute part of a “plan” or “series of related transactions”
(within the meaning of Section 355(e) of the Code) in conjunction with the transactions contemplated by this Agreement.

 

(aa) The Company has not
made any classification election pursuant to Section 301.7701-3 of the Treasury Regulations other than the elections described in Section Error!
Reference source not found..

 

(bb) The Company has not
made any election statements under Section 83(b) of the Code.

 

    20

     

    

 

(cc) The Company is not
a party to any “nonqualified deferred compensation plans” (within the meaning of Section 409A of the Code). The Company
is under no obligation to provide any gross up, indemnification, reimbursement or other payment for any Taxes, including any excise or
additional Taxes, under Section 409A of the Code.

 

(dd) The Company is not
subject to any transfer pricing laws and regulations. No Tax Authority has proposed, asserted or otherwise discussed with the Company
the possibility of a transfer pricing adjustment or failure to comply with any transfer pricing requirements. No transfer pricing adjustment
is reasonably expected to be proposed, asserted or raised by any Tax Authority with respect to the Company either before or after the
Closing Date (i) with respect to any transactions that occurred prior to the Closing Date or (ii) as a result of any transfer
pricing documentation being provided to any Tax Authority by the Company prior to Closing Date.

 

(ee) No individual classified
by the Company as a non-employee (such as, an independent contractor, leased employee or consultant) was or will be considered as an employee
of the Company by an applicable Tax Authority.

 

The Company complies, and have always been compliant,
with the requirements of Section 85A of the Ordinance and the regulations promulgated thereunder in all material respects. All intercompany
transactions between the Company and the US Subsidiary have met in all material respects the requirements of Section 85A of the Ordinance
and the regulations promulgated thereunder (or any corresponding provision of applicable state, local or non-U.S. Tax Law)

 

Section 3.11 Conduct
of Business. Other than as set forth in Schedule 3.11, since December 31, 2020, (i) the Company has operated only in the ordinary
course of business consistent with past practice and there has not been or occurred any event, circumstance, change, effect or occurrence
that would have or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and (ii) the Company
has not:

 

(a) (i)
amended any of its Organizational Documents or (ii) merged or consolidated with, or acquired, by any means, the shares or assets
of any other Person;

 

(b) taken
any action for its winding up, liquidation, dissolution or reorganization or for the appointment of a receiver, administrator or administrative
receiver, trustee or similar officer of all or any of its assets or revenues;

 

(c) made
any change in its authorized share capital, issued any shares of share of any class, or issued or become a party to any subscriptions,
warrants, rights, options, convertible securities or other agreements or commitments of any character relating to the issued or unissued
share capital of the Company;

 

(d) (i) declared,
set aside, established a record date for, made or paid any dividend or distribution (whether payable in cash, stock, property or a combination
thereof) with respect to any of its share capital, (ii) split, combined or reclassified any shares of the Company’s share
capital or any other Equity Interests, (iii) purchased, redeemed or otherwise acquired any shares of the Company’s share capital
or any other Equity Interests or any rights, warrants or options to acquire any such shares or other securities, or (iv) made any
other actual, constructive or deemed distribution in respect of any shares of the Company’s share capital or other Equity Interests
or otherwise make any payment(s) to any Shareholder in its capacity as such;

 

(e) sold
or transferred any of its assets or property (including any Intellectual Property), except for sales of inventory and transfers of cash
in payment of trade payables in the usual and ordinary course of business consistent with past practice;

 

(f) incurred
any Lien, other than Permitted Liens, on any of its material assets or properties;

 

(g) suffered
any material loss, or any interruption in use, of any material assets or property of the Company that is not fully covered by insurance,
whether on account of fire, flood, riot, strike, act of God or otherwise;

 

    21

     

    

 

(h) settled
or compromised, or agreed to settle or compromise, any claim against the Company, or waived any material right of the Company;

 

(i) initiated
any Proceeding, settled or compromised, or agreed to settle or compromise, any Proceeding initiated by or on behalf of the Company (except
to the extent permitted by part (h) above);

 

(j) (i)
incurred, assumed, sold or guaranteed any Indebtedness, (ii) paid, repaid, discharged or satisfied any Indebtedness, (iii) amended
the terms of any Contract related to Indebtedness, (iv) made a loan or advance to any Person or (v) purchased any debt securities
of any Person;

 

(k) made
any material change to its accounting methods or practices;

 

(l) made
or changed any Tax election; changed any annual Tax accounting period; adopted or changed any method of Tax accounting; filed any amended
Tax Return; entered or changed into any litigation, settlement or final determination of any tax audit, claim, compromise, or other proceeding
or assessment involving the Company and any resolution of any Tax liability or claim for any refund of Taxes or entered into any closing
agreement (as described in Section 7121 of the Code or any corresponding or similar provision of state, local or non-U.S. Law); or surrendered
any right to claim a Tax refund, offset or other reduction in Tax liability;

 

(m) sold,
assigned, transferred, leased, or exclusively licensed any material Intellectual Property of the Company, or, other than in the ordinary
course of business, granted non-exclusive licenses to any material Intellectual Property of the Company, disclosed any source code of
any Company Software to any Person, disclosed any other material confidential information included in Owned Intellectual Property to any
Person (other than to Purchaser and its Affiliates or pursuant to written, valid and binding non-disclosure agreements), or abandoned
or permitted to lapse or otherwise fail to maintain in full force and effect any applications or registrations for material Owned Intellectual
Property;

 

(n) revalued
any of its assets, including writing down the value of inventory or writing-off notes or accounts receivable other than in the ordinary
course of business consistent with past practice or as required by US GAAP;

 

(o) made
any material change in the Company’s cash management practices, including accelerating billing of customers or collection of receivables
or delaying payment of any expenses or payables or taken any action with the intention of increasing the amount of Cash;

 

(p) (i)
entered into any Contract for the purchase or lease of any additional real property or (ii) terminated or provided a notice of non-renewal
of any lease of real property;

 

(q) (i)
adopted or amended any (A) bonus, profit sharing, compensation, severance, share option, pension, retirement, deferred compensation, collective
bargaining agreement, neutrality agreement or other labor agreement with any labor union or other collective bargaining representative,
or (B) employment or other employee benefit plan, agreement, or arrangement for the benefit or welfare of any employee, officer, director
or independent contractor or former director, employee, officer or independent contractor, (ii) except for salary increases made in the
ordinary course of business consistent with past practice and not in excess of 2%, increased the compensation or benefits of any such
persons or paid any material benefit not required by an existing Benefit Plan, or (iii) except with respect to the approval of this Agreement,
taken any action that would, or would be reasonably likely to, result in the acceleration of vesting of any Company Option;

 

(r) (i)
terminated the employment of any manager, officer or employee, or the engagement of any consultant or contractor, except in the ordinary
course of business consistent with past practice or (ii) hired or terminated any employee, or engaged or terminated the engagement of
any consultant or contractor, with a base salary or annual compensation in excess of $75,000;

 

    22

     

    

 

(s) recognized
any labor union or labor organization as the bargaining representative of any employees of the Company, or negotiated or agreed to any
collective bargaining agreement or other Contract with a labor union or labor organization;

 

(t) entered
into, amended, modified, terminated or received notice of termination of, or granted any waiver, release or assignment of any material
rights or claims under, any Material Contract or

 

(u) entered
into any commitment or agreement to do any of the foregoing.

 

The foregoing representations and warranties shall
not be deemed to be breached solely by virtue of the entry by the Company into, or the Company’s performance of, this Agreement
or its consummation of the transactions contemplated by this Agreement or by any action taken after the date hereof at the written direction
of or with the written consent of Purchaser.

 

Section 3.12 Contracts.
Schedule 3.12 contains a list of the following Contracts which the Company is a party to, bound by, or has any obligation under
(each Contract that is listed on Schedule 3.12 and each Contract that is required to be listed on Schedule 3.12, but is
not so listed, a “Material Contract”), in each case as of the date hereof:

 

(a) Contracts
containing (i) any covenant that restricts or purports to restrict the Company’s right to compete, directly or indirectly, with
any other Person in any geographic area, (ii) terms in which Company grants to a third party any “most favored nations” terms
or an exclusive right to purchase from Company with respect to any product or geographic area, (iii) terms in which Company grants any
“right of first offer” or “right of first refusal” to any other Person to acquire the Company or any assets or
business thereof, or (iv) any provision in which Company grants exclusivity in favor of any third party;

 

(b) Contracts
providing for an expenditure by the Company in excess of $50,000 in any given 12-month period or in excess of $100,000 in the aggregate;

 

(c) Company
Intellectual Property Agreements;

 

(d) Any
Contract pursuant to which the Company settled any dispute, or released or was released from any claim pertaining to, any Intellectual
Property;

 

(e) Contracts
providing for the Company’s sale of products, the Company’s provision of services, or the Company incurring warranty liability
(i) in excess of $50,000 in any given 12-month period annually, in any such case (ii) pursuant to which the Company has agreed to indemnify
or hold harmless the other party thereto for claims arising from any actions or inactions of a Person other than the Company or its Affiliates,
agents, employees, officers and representatives, or (iii) pursuant to which the other party thereto has the right to setoff amounts
owed to the Company against amounts claimed or owed against the other, or any Affiliate of any of them;

 

(f) Contracts
pursuant to which the Company is obligated to sell products or to provide services to third parties which (i) the Company knows is at
a price which would result in a net loss to the Company on the sale of such products or provision of such services, (ii) contain
terms or conditions which the Company knows it will be unable, in any material way, to satisfy or fulfill, (iii) do not contain a limitation
on the Company’s liability for consequential damages, (iv) does not contain a cap on damages, or (v) provides that the Company pays
liquidated damages; in each case in accordance with the terms of such Contract;

 

    23

     

    

 

(g) Contracts
with any Material Customer or Material Supplier;

 

(h) leases
or subleases, either as lessee or sublessee or lessor or sublessor, of personal or real property;

 

(i) Contracts
providing for an expenditure by the Company for the purchase, lease or sale of any real property;

 

(j) Contracts
that are a profit-sharing, option, equity interest purchase, equity-based compensation, deferred compensation or other plan or material
arrangement for the benefit of, or relating to, current or former directors, officers, managers, independent contractors or employees
of the Company;

 

(k) Contracts
pursuant to which any Transaction Expenses are payable;

 

(l) Contracts
relating to Indebtedness or any Lien, including any loan or credit agreements, pledge agreements, notes, security agreements, mortgages,
debentures, indentures, or letters of credit;

 

(m) Contracts
relating to the acquisition or disposition of a Person or business (i) during the last five years or (ii) pursuant to which the Company
has any continuing rights or obligations;

 

(n) Contracts
providing for indemnification of any officer, director, employee, or agent of the Company (other than commercial Contracts entered into
in the ordinary course of business with the Company’s vendors, customers or partners);

 

(o) Contracts
involving a partnership, joint venture or the sharing of profits or losses, and any stockholder or limited liability company agreements;

 

(p) collective
bargaining agreements, neutrality agreements, card-check agreements, or other Contracts of any kind with a labor union, works council,
or other labor organization with respect to any employee of the Company;

 

(q) Contracts
with any employee leasing or staffing company by which such employee leasing or staffing company’s employees or contractors provide
services to the Company;

 

(r) Contracts
requiring payments from, or providing for payments to, the Company in excess of $50,000 per annum that are not cancelable by the Company
without penalty on 30 days’ notice or less that are not specifically described on any other Schedule to this Agreement;

 

(s) Contracts
relating to any interest rate, currency, commodity derivatives, hedging, or similar transaction;

 

(t) Contracts
with a Related Party;

 

(u) Contracts
containing continuing obligations of the Company relating to any resolution or settlement of any actual or threatened Proceeding; and

 

(v) Contracts
containing any revocable or irrevocable power of attorney granted to any Person for any purpose whatsoever.

 

(w) Contracts
providing for Government Grants from any governmental authority;

 

    24

     

    

 

The Company has provided to
Purchaser a complete and accurate copy of each Material Contract, together with all amendments, exhibits, attachments and waivers thereto.
Each Material Contract is legal, valid, binding upon and enforceable against the Company in accordance with its terms and, to the Company’s
Knowledge, the other parties thereto. The Company has not materially breached any Material Contract or received any written (or, to the
Company’s Knowledge, verbal) notice alleging that a material breach or default by the Company has occurred thereunder and, to the
Company’s Knowledge, no material breach or default by the other contracting parties has occurred thereunder. Except as set forth
on Schedule 3.12, no event has occurred which, with the passage of time or the giving of notice, or both, would constitute,
a material default under or a violation of any Material Contract by the Company or, to the Company’s Knowledge, any other party
to such Material Contract. Except as set forth on Schedule 3.12, the Company has not received any written or, to the Company’s
Knowledge, oral notification that any party to a Material Contract intends to cancel, terminate, materially adversely modify, refuse to
perform or refuse to renew such Material Contract (if such Material Contract is renewable).

 

Section 3.13 Permits.
The Company possesses, and has possessed, all material Permits that are required under applicable Law or necessary in order for the Company
to conduct its business as presently conducted or then conducted, as applicable, the lack of which is could have a Material Adverse Effect.
The operation of the business of the Company as currently conducted is not, and has not been in violation of, nor is the Company in default
or in violation under any Permit, and no event has occurred which, with notice or the lapse of time or both, would constitute a default
or violation of any material terms, condition or provision of any Permit, except in each case where such default or violation of such
Permit would not reasonably be expected to be material to the Company. There are no actions pending or, to the Company’s Knowledge,
threatened, that seek the revocation, cancellation or adverse modification of any Permit, except where such revocation, cancellation or
adverse modification of any Permit would not reasonably be expected to materially impair the ability of the Company to conduct the business
as presently conducted and perform its obligations hereunder. The Company has not received or been subject to any written notice, charge,
claim or assertion, or, to the Company’s Knowledge, any other notice, charge, claim or assertion, in each case alleging violations
of any Permit, nor to the Company’s Knowledge, has any such notice, charge, claim or assertion been threatened, except where the
receipt of such notice, charge, claim or assertion would not reasonably be expected to, individually or in the aggregate, materially impair
the ability of the Company to conduct its business as currently conducted or to perform its obligations hereunder. Except as set forth
on Schedule 3.13, the business of the Company and its Subsidiaries does not involve the use or development of, or engagement
in, encryption technology, or other technology whose development, commercialization, marketing or export requires the Company or any of
its Subsidiaries’ to obtain a license from any Governmental Authority, including, without limitation, the Israeli Ministry of Defense
or an authorized body thereof pursuant to Section 2(a) of the Declaration Regarding the Control of Commodities and Services (Engagement
in Encryption Means), 1974, or under any other Law regulating the development, commercialization, marketing, or export of technology,
knowledge, services or goods (including, without limitation, the Israeli Defense Export Control Law, 2007, the Israeli Order of Import
and Export (Control of Export of Dual Use Goods, Services and Technologies), 2006, or the Israeli Trading with the Enemy Ordinance, 1939).

 

Section 3.14 Litigation.
There are no, and there have not been since June 1, 2016, any Proceedings of any kind or nature, in law or equity, pending or, to the
Company’s Knowledge, threatened (i) against the Company or any assets of the Company or used by the Company or any Person whose
liability for such Proceeding has been retained or assumed by the Company, either contractually or by operation of law; (ii) that challenges,
or that may have the effect of preventing, delaying, making illegal or otherwise interfering with, any of the transactions contemplated
by this Agreement; or (iii) that relates to the ownership of any Company Shares, or any Company Option or other right to Company
Shares or other securities of the Company, or right to receive consideration as a result of this Agreement. To the Knowledge of the Company,
no event has occurred, and no claim, dispute or other condition or circumstance exists, that will or could reasonably be expected to,
give rise to or serve as a basis for the commencement of any such Proceeding. The Company is not a party to, or specifically subject to,
any Order or in receipt of a subpoena, civil investigative demand, warrant, or other type of request for documents or information by a
Governmental Entity.

 

    25

     

    

 

Section 3.15 Compliance
with Laws.

 

(a) The
Company is, and at all times has been, in compliance in all material respects with all applicable Laws and Orders. The Company has not
received any written or, to the Company’s Knowledge, oral notice of violation of any applicable Law or Order and, to the Company’s
Knowledge, no investigation by any Governmental Entity is pending with respect to any actual or alleged violation of Law by the Company
or any of its officers, directors or employees (in their capacity as such).

 

(b) Neither
the Company nor any of its Affiliates or any of its or their officers or directors, (in their capacity as such), nor to the Company’s
Knowledge, any employees, consultants, contractors agents, or other Persons acting for or on behalf of the Company or any of its Affiliates
(i) has been or is designated on, or is owned or controlled by any Person that has been or is designated on, any list of any Governmental
Entity as Persons with whom U.S. Persons cannot transact, including the U.S. Office of Foreign Assets Control’s Specially Designated
Nationals and Blocked Persons List, (ii) is a national of, organized under the Laws of, or resident in any country or territory which
is itself the subject of any economic sanctions by any Governmental Entity or (iii) has been convicted of a criminal offense that would
trigger exclusion pursuant to 42 USC 1320a-7(a) or is listed or has been listed by a Federal or State agency as currently suspended, debarred,
excluded, or otherwise ineligible for State or Federal healthcare program participation.

 

(c) Neither
the Company or any of its Affiliates, nor, to the Company’s Knowledge, any Person acting or purporting to act on behalf of the Company
or any of its Affiliates or with respect to the business of the Company has at all times, directly or indirectly, (i) made or received
any payment which was not legal to make or receive, (ii) improperly given, offered, promised or authorized the giving of money or anything
of material value to any government official or employee (including officials or employees of state-owned or controlled businesses and
institutions), political party or campaign official, candidate for foreign political office, official or employee of a public international
organization, or any other person acting on behalf of any of the foregoing, or (iii) engaged in any conduct constituting a violation of
Sections 290-297 of the Israeli Penal Law 1977, the U.S. Foreign Corrupt Practices Act of 1977 and the regulations promulgated thereunder,
the UK Bribery Act of 2010, or any similar Law. No investigation or Proceeding relating to any payment described in this ‎Section 3.15(c)
that was made, or is alleged to have been made, by or on behalf of the business of the Company is pending before any Governmental Entity,
or, to the Company’s Knowledge, is any such Proceeding threatened.

 

Section 3.16 Real
Property.

 

Except as set forth on Schedule 3.16:

 

(a) The
Company does not own, and has never owned, any real property.

 

(b) The
Company does not currently lease any real property, and does not have any liabilities or obligations with respect to any lease (whether
current or former).

 

Section 3.17 Environmental
Matters.

 

(a) The
Company is, and at all times has been, in compliance in all material respects with all applicable Environmental Laws.

 

(b) The
Company possesses all material environmental Permits that are required for the operation of its business.

 

(c) The
Company has not received any notice, written or otherwise, from any Governmental Entity regarding any actual or alleged material violation
of any Environmental Laws, including any investigatory, remedial or corrective obligations relating to the Company or the Leased Real
Property arising under Environmental Laws.

 

    26

     

    

 

Section 3.18 Intellectual
Property.

 

(a) Schedule
3.18(a)(i) sets forth a complete list of the following that are owned by the Company: (i) patented or registered Intellectual Property,
(ii) pending patent applications and applications for other registrations of Intellectual Property, (iii) material unregistered trademarks
and service marks, (iv) domain name registrations, (v) Company Software, (vi) inventions that are being tracked or considered for possible
patent filings, and (vii) social media accounts (all of the foregoing, together with all other Intellectual Property that the Company
owns or purports to own, being the “Owned Intellectual Property”). The Company possesses good, valid and legal
title to, and solely owns all right, title and interest in, all of the Owned Intellectual Property, free and clear of any and all Liens
except for Permitted Liens (provided, however, that the above representation shall apply, with respect to
items (ii), (iii) and (vi), subject to the Company’s Knowledge). Without derogation from the aforesaid in this Section 3.18(a),
each item of Owned Intellectual Property is subsisting and with respect to the items listed in (i) and (iv), valid and enforceable. Schedule
3.18(a)(ii) sets forth a complete list of patent applications that have been filed by the Company that are now abandoned. Schedule
3.18(a)(iii) sets forth a complete list of written opinions or memoranda procured by the Company providing analysis or recommendations
regarding freedom to operate, patentability or other patent clearance or infringement analysis searches performed in respect of any Company
Software or product or service sold, licensed or otherwise provided by the Company (each a “Company Product”), including
any Company Product that employs any Company Software.

 

(b) Schedule
3.18(b) sets forth a complete list of all: (i) Contracts (other than ordinary course licenses of commercially available software granted
pursuant to shrinkwrap, click-wrap, or other standard license agreements requiring annual payments of less than $5,000) pursuant to which
the use by the Company of Intellectual Property is permitted by any Person, including as a beneficiary of a covenant not to sue or similar
covenant (the “Intellectual Property Licenses” and together with the Owned Intellectual Property, the “Company
Intellectual Property”), (ii) Contracts pursuant to which the Company licenses or sublicenses any Intellectual Property to any
Person (including by granting a covenant not to sue or similar restrictive covenant), other than (A) non-exclusive licenses granted to
vendors and other contractors solely for the purposes of providing services to Company and (B) non-exclusive licenses granted to customers
and distributors of Company in the ordinary course of business consistent with past practice, (iii) Contracts pursuant to which Company
settled any dispute, or released or was released from any claim pertaining to, any Intellectual Property and (iv) Contracts pursuant to
which any Owned Intellectual Property was developed for the Company or the Company’s ownership of which was otherwise procured by
the Company (the Intellectual Property Licenses, together with the Contracts identified in items (ii) through (iv) above, the “Company
Intellectual Property Agreements”). All of the Company Intellectual Property Agreements are in full force and effect and are
valid and enforceable in accordance with their terms. The Company and, to the Company’s Knowledge, each other Person that is party
to such Company Intellectual Property Agreement, is in material compliance with all terms and requirements of such Company Intellectual
Property Agreement. The consummation of the transactions contemplated by this Agreement will not extinguish, reduce or limit any rights
of the Company in any Owned Intellectual Property, under any Company Intellectual Property Agreement, or extinguish, reduce or limit any
obligations of any counterparty to any Company Intellectual Property Agreement under any such Company Intellectual Property Agreement.

 

(c) Other
than as set forth in Schedule 3.18(c), the conduct of the Company’s business as currently conducted or as previously
conducted, the exercise of the rights of the Company relating to the Company Intellectual Property, and the products and services offered
by or on behalf of the Company at any time (whether by sale, license or otherwise) infringe upon, misappropriate or otherwise violate
(or have infringed upon, misappropriated or otherwise violated) the Intellectual Property of any Person (provided, however,
that the above representation if provided, with respect to any Company Intellectual Property which is not (i) patented or registered Intellectual
Property, (ii) domain name registrations, and (iii) Company Software, is subject to the Company’s Knowledge). Other than as set
forth in Schedule 3.18(c), the Company has not received any written notice of any claims, and, to the Company’s Knowledge,
there are no pending claims, of any Persons relating to the scope, ownership, validity, enforceability or use of any of the Company Intellectual
Property. The Company has not been sued or charged as a defendant in any Proceeding alleging the Company’s infringement, misappropriation,
or other violation of any Intellectual Property of any Person, nor has any written claim or demand been made against the Company nor,
to the Knowledge of the Company, otherwise been threatened against the Company (including by an “invitation” to license as
a means to avoid infringement or potential infringement) alleging the Company’s infringement, misappropriation, or other violation
of any Intellectual Property of any Person.

 

    27

     

    

 

(d) Other
than as set forth in Schedule 3.18(d), to the Company’s Knowledge, no Person is misappropriating, infringing, diluting or
otherwise violating any of the Owned Intellectual Property. No Intellectual Property or other proprietary right misappropriation, validity,
enforceability, infringement, dilution or violation actions or Proceedings have been brought or otherwise asserted against any Person
by the Company. The Company has taken commercially reasonable measures to maintain and protect Company Intellectual Property, including
to protect its rights in and the confidentiality of the source code of the Company Software, its other confidential information and trade
secrets and the confidential information and trade secrets of third parties that have been disclosed to the Company in confidence. In
respect of the confidential information and trade secrets of third parties, the Company has complied in all material respects with its
obligations to such third parties under any written confidentiality or non-disclosure agreements relating to such confidential information
and trade secrets.

 

(e) The
Owned Intellectual Property, including any Software that is owned by the Company and that constitutes Owned Intellectual Property (the
“Company Software”), was (i) developed by employees of the Company within the scope of their employment who assigned
any Intellectual Property and related rights that they may have in or to such Owned Intellectual Property to the Company pursuant to valid
and enforceable written agreements; or (ii) developed by independent contractors who assigned any Intellectual Property or related
rights that they may have in or to such Owned Intellectual Property to the Company pursuant to valid and enforceable written agreements.

 

(f) Except
as provided in ‎Section 3.18(f), no university, military, educational institution,
research center, Governmental Entity, entity owned or controlled by any Governmental Entity, hospitals, medical centers or other similar
institutions or organization (each, an “R&D Sponsor”) has sponsored or provided funding to the Company or the Company’s
Subsidiaries for any research and development conducted in connection with the business of the Company and the Company’s Subsidiaries,
or has any claim of right to, ownership of or other Lien, or rights to royalties or other consideration on any Company Intellectual Property.
Neither the Company nor any of its Subsidiaries is a participant in any standards-setting activities or joined any standards setting or
similar organization that would affect the proprietary nature of any Company Intellectual Property or restrict the ability of the Company
or any of the Company’s Subsidiaries to enforce, license or exclude others from using any Company Intellectual Property, in each
case, except as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. To the Knowledge
of the Company, none of the employees, consultants or independent contractors of the Company or any of its Subsidiaries who is or was
involved in, or who has or will have contributed to, the creation or development of any of the Company Intellectual Property was, during
the time period in which such Person was engaged by the Company or any of its Subsidiaries, an employee of any R&D Sponsor. Except
as provided in ‎Section 3.18(f), all Company Software or any products or Intellectual Property
under development by Company or any of its Subsidiaries uses or incorporates Intellectual Property that was developed by the Company or
any of its Subsidiaries using funding provided by the IIA. ‎Section 3.18(f)
sets forth the amount of each Government Grant received by the Company or any of its Subsidiaries from any R&D Sponsor and with respect
to each of such Government Grants provided by the IIA: (a) the Benefit Track Number; (b) the file number; (c) file approval date; (d)
aggregate amount received; (e) current royalty repayment rate in %; and (f) aggregate royalties repaid.

 

(g) R&D
Sponsor Government Grants

 

(i) Except
as set forth in ‎Section 3.18(g), none of the Company and its Subsidiaries
has applied for, nor received any, Government Grant, from any R&D Sponsor.

 

(ii) The
Company has duly paid all royalties due which apply to each specific Government Grant relevant to any Company Intellectual Property (whether
IIA Funded Intellectual Property or otherwise), and there have been no disputes or disagreements with the relevant R&D Sponsor (whether
the IIA or otherwise) with respect to such.

 

(iii) The
Company submitted to each R&D Sponsor (including the IIA) all the required notices with respect to each non-Israeli Person as required
pursuant to the R&D Law, including the form of undertaking that the R&D Law requires be signed by each such non-Israeli Person.

 

(iv) To
the Company's Knowledge and as evidence by written records, the Company is not required to pay any royalties on account of its development
and License Agreement with DePuy Ireland Unlimited Company, dated December 9, 2019.

 

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(v) No
Lien was ever created with respect to any IIA Funded Intellectual Property and no such IIA Funded Intellectual Property has ever been
put in escrow.

 

(vi) The
Company is not, and has not, manufactured (whether by itself or by any other Person), or provided manufacturing rights to another, outside
of Israel in any fashion that uses or incorporates IIA Funded Intellectual Property and has not submitted any request to the IIA for permission
to do so. The Company has not transferred (including, but not limited to, by way of disclosure of such know-how, deposit in escrow or
granting license rights) any IIA Funded Intellectual Property, and has not submitted any request to the IIA for permission to do so. Furthermore,
the royalty repayment cap of any Government Grant relevant to the IIA Funded Intellectual Property has not been increased nor has the
royalty repayment rate (set forth in Schedule 3.18(f)) been increased – whether or not conditionally.

 

(vii) The
Company has made available to the Purchaser all material letters of approval, certificates of completion, supplements or amendments thereto
for Government Grants received by the Company from any R&D Sponsor and all material correspondence related thereto. In each application
submitted by or on behalf of the Company (including, without limitation, with respect to IIA Funded Intellectual Property), all material
information required by such application has been disclosed accurately and completely in all material respects.

 

(viii) With
the exception of standard restrictions and obligations relating to the receipt of Government Grants from the IIA, there are no other undertakings,
restrictions or obligations of the Company or its Subsidiaries in connection with any Government Grant provided with respect to the IIA
Funded Intellectual Property. The Company is in compliance with the terms and conditions of all Government Grants received by the Company
from any R&D Sponsor (including, without limitation, with respect to IIA Funded Intellectual Property) and the Company has duly and
timely fulfilled all the undertakings relating thereto.

 

(h) The
Company does not use or employ in the conduct of its business as currently conducted (including in connection with the sale, license or
other provision of products or services to customers or other third parties) any Company Software or other Intellectual Property developed
for or provided to a customer of the Company by or on behalf of the Company that the Company has assigned or is obligated to assign to
such customer, other than as permitted by the Company’s valid, binding and written agreement with such customer.

 

(i) Schedule
3.18(i) is a complete and accurate list of all Contracts pursuant to which the Company has granted, or is obligated to grant in the
future, to any third party a license, option, or other right to use or acquire any source code of any Company Software or of any other
Software included in the Company Intellectual Property (“Company Source Code”), or has provided, disclosed, or made
available, or is obligated to provide, disclose, or make available in the future, to any third party any Company Source Code, including
any Contracts that provide for source code escrow arrangements (the “Source Code Licenses”).  No Company Source
Code has been provided to employees or contractors of the Company except on a need-to-know basis.  No Company Source Code has been
provided, disclosed, or made available to any third party except under a valid, binding, written confidentiality agreement or a Source
Code License listed on Schedule 3.18(i), or has otherwise been provided, disclosed, or made available to the public.

 

(j) The
Company has not incorporated into any Company Software, or otherwise used, linked, included or derived from or distributed with any Company
Software any Open Source Code in a manner that that (i) requires the Company to disclose to any third party any source code of any Company
Software; (ii) requires the Company to license a third party to create any derivative work based on any Company Software; (iii) requires
the Company to license, or restricts the Company from licensing, any Company Software to any third party; or (iv) requires the Company
to grant any patent rights including non-assertion or patent license obligations. The Company has complied in all material respects with
all obligations under each Open Source License to which the Company is subject, and Schedule 3.18(i) is a complete and accurate
list of all Open Source Code (or URLs to the applicable pages containing Open Source Code) that is used in, linked to or called by, incorporated
into, included or distributed with, or from which any Company Software is derived, and identifies the purpose for which such Open Source
Code is used, the Open Source License pursuant to which such Open Source Code is licensed, and the source from which such Open Source
Code was acquired.

 

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(k) No
Company Software and, to the Company’s Knowledge, no Software licensed to the Company, contain any time bomb, virus, worm, Trojan
horse, back door, drop dead device, or any other Software designed to disable any other Software or any computer or system automatically,
with the passage of time, under the positive control of any Person, or otherwise, to materially interfere with its normal operation, to
allow circumvention of security controls, or that is otherwise intended to cause damage to hardware, Software or data (collectively, “Malicious
Code”).

 

(l) All
Company Software and all other Software licensed to Company pursuant to an Intellectual Property License, that (i) is material to the
operation of the Company, (ii) is distributed, sold, licensed, sublicensed, marketed or otherwise provided to third parties by the Company,
(iii) is used or held for use by the Company in connection with its business, or (iv) is owned by the Company and used in the ordinary
course of business to provide Company’s services is, (A) in the possession, custody and control of the Company or, with respect
to Software licensed to Company pursuant to an Intellectual Property License, Company’s vendors, along with all hardware and software
tools, documentation, and other materials used by the Company to exploit the Company Software and such other Software in the ordinary
course of business, and such Company Software, other Software and related tools and materials will remain so immediately after Closing
and (B) has been catalogued and documented as reasonably necessary to enable competently skilled programmers and engineers to use, update
and enhance such items by readily using the existing source code, engineering drawings, machine settings and documentation (collectively,
the “Company Software Documentation”), and the Company Software Documentation is in the possession and control of the
Company. The source code of the Company Software is contained within a code repository identified on Schedule 3.18(k).

 

(m) No
Company Software or other Owned Intellectual Property is subject to any Order that restricts, impairs or otherwise imposes any obligation
with respect to the validity, enforceability, disclosure, use, enforcement, prosecution, maintenance, transfer, licensing or other exploitation
of Company Software or other Owned Intellectual Property.

 

Section 3.19 Data
Protection; Privacy.

 

(a) The
Company has established and maintains the policies relating to the data and information processed by or on behalf of the Company, including
by any third party on behalf of the Company (“Company Data”), as are set forth on Schedule 3.19(a) (“Company
Data Policies”). All such Company Data Policies comply with applicable Data Requirements. The Company has disclosed to Purchaser
complete and accurate copies of all Company Data Policies. The Company is in compliance with all Company Data Policies.

 

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(b) Except as set forth on
Schedule 3.19(b): (i) the Company is in material compliance with all Data Requirements, (ii) the Company has not received any
written notice alleging any failure to comply with any applicable Data Requirements, and (iii) there is no Proceeding pending against
the Company by any Person with respect to any actual or alleged violation of any Data Requirements, or any Company Data or the Processing
thereof, and to the Company’s Knowledge there is no reasonable basis for any such investigation, proceeding or other action. The
consummation of the transactions contemplated by this Agreement will not cause the Company to violate any Data Requirement.

 

(c) The
Company maintains commercially reasonable and appropriate technical, administrative, and physical safeguards and measures that are designed
to (i) ensure the availability, integrity, security, and confidentiality of the Company Information Systems and Company Data; (ii) protect
against any Security Incident; and (iii) protect against any anticipated threats or hazards to the security or integrity of Company Data
or Company Information Systems.

 

(d) Except
as set forth on Schedule 3.19(d), (i) there has been no Security Incident, (ii) the Company has not received any notice alleging
the occurrence of any Security Incident, (iii) no Person (including any Governmental Entity) has commenced any Proceeding with respect
to any Security Incident and (iv) the Company has not notified and, to the Company’s Knowledge, there have been no facts or circumstances
that would require the Company to notify, any other Person (including any Governmental Entity) of any Security Incident or any violation
of any Data Requirement.

 

Section 3.20 Information
Technology.

 

(a) The
Company has taken commercially reasonable steps to ensure the systems, devices, networks, and equipment, including hardware, computers,
servers, storage devices, workstations, peripherals, routers, hubs, switches, sensors, and other systems, devices or equipment, and all
Software operating on or in connection with such systems, devices, networks or equipment, that are used or held for use in the conduct
of the business of the Company (the “Company Information Systems”) are reasonably adequate for the operation of the
businesses of the Company as currently conducted[, and the Company has purchased a sufficient number of license seats for all Software
currently used by or on behalf of the Company. With respect to the Company Information Systems: (i) the Company has taken commercially
reasonable steps and implemented commercially reasonable procedures to ensure, or, in the case of Company Information Systems not controlled
or configured by the Company, has contractually required its vendor or contractor to implement commercially reasonable procedures to ensure,
that such Company Information Systems do not include any Malicious Code, which procedures include the use of antivirus software to protect
such Company Information Systems from becoming infected by any Malicious Code; (ii) except as set forth on Schedule 3.20(a), to
the Company’s Knowledge, there has not been any material malfunction or any material unplanned downtime or service interruption
in or affecting any Company Information System; (iii) the Company has taken commercially reasonable steps and implemented commercially
reasonable procedures to manage its licenses to all Software that is a component of the Company Information Systems controlled or configured
by the Company and ensure compliance with the terms of such licenses and have fully complied with all vendor-initiated audits of usage
of such Software; and (iv) the Company has taken commercially reasonable steps and implemented commercially reasonable procedures to mitigate
risks that the Company Information Systems will be used or accessed by persons other than Company employees, contractors or other authorized
personnel or other than in a manner in which such personnel are authorized to use or access the Company Information Systems. The Company
has taken commercially reasonable measures to provide for system redundancy and back-up of data and material information in a commercially
reasonable manner and has exerted commercially reasonable efforts to avoid disruption or interruption to the business of the Company.

 

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(b) The
Company is not obligated to support or maintain any of the Company Software except pursuant to Contracts with customers in the ordinary
course of business or as set forth in Schedule 3.20(b).

 

Section 3.21 Employee
Benefits.

 

(a) Schedule
3.21(a) sets forth a complete and accurate list of all Benefit Plans. The Company has made available to Purchaser, with respect to
each Benefit Plan listed on Schedule 3.21(a) (to the extent applicable thereto), copies of the plan document, as currently in effect,
or, if such Benefit Plan is not in writing, a written description of the material terms of such Benefit Plan.

 

(b) Each
Benefit Plan, including any related trust or other funding arrangement, has been established, maintained, funded, and administered, in
all material respects, in accordance with its terms and in compliance with applicable Laws.

 

(c) Except
as would not reasonably be expected to result in a material Liability to the Company, all contributions, premiums and other payments required
to have been made by the Company to the Benefit Plans prior to the Closing Date have been (or will be) timely made or provided for prior
to the Closing in accordance with past practice. All insurance premiums have been paid in full, subject only to normal retrospective adjustments
in the ordinary course, with regard to the Benefit Plans for policy years or other applicable policy periods ending on or before the Closing
Date. Full payment has been made of all amounts due under each of the Benefit Plans and to each person employed or formerly employed by
the Company that are required under the terms of the Benefit Plans to have been paid, and all obligations regarding the Benefit Plans
required to be satisfied prior to the date hereof have been satisfied in all material respects in accordance with the terms of the Benefit
Plan.

 

(d) Other
than as stated in the governing documents of such Benefit Plans made available to Purchaser or as required under Law, each Benefit Plan
may be amended, modified or terminated without advance notice to or consent by any employee or beneficiary, and without liability for
any payment or penalty, other than benefits accrued as of the date of such amendment, modification or termination and administrative expenses.
Except as set forth in such Benefit Plan, the Company has not (i) undertaken to maintain any Benefit Plan for a period of time or (ii)
announced its intention, or undertaken (whether or not legally bound), to modify (other than as required to maintain such Benefit Plan
in compliance with applicable Law) or terminate any Benefit Plan or adopt any arrangement or program which, once established, would come
within the definition of Benefit Plan.

 

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(e) Except
as explicitly required by the terms of this Agreement or as set forth on Schedule 3.21(e), neither the execution of this Agreement
nor the consummation of the transactions hereunder will (whether alone or together with any other event or events, including termination
of employment) (i) entitle any current or former Company officer, director, employee or independent contractor to any increase in any
compensation or benefits due under any Benefit Plan, (ii) accelerate the time at which any compensation, benefits or award may become
payable, vested or required to be funded in respect of any current or former Company officer, director, employee or independent contractor,
(iii) entitle any current or former Company officer, director, employee or independent contractor to any compensation or benefits or (iv)
require any contributions or payments to fund any obligations under any Benefit Plan.

 

(f) Except
as set forth on Schedule 3.21(f), there are no claims (other than routine claims for benefits, appeals of such claims and
domestic relations order proceedings) pending or, to the Company’s Knowledge, threatened with respect to (or against the assets
of) any Benefit Plan that would reasonably be expected to result in a material liability to the Company. Except as set forth on Schedule 3.21(f),
to the Company’s Knowledge, no Benefit Plan is, or was during the last three years, under audit or investigation by any Governmental
Authority, nor is any such plan the subject of an active filing under any voluntary compliance, amnesty, closing agreement or other similar
program sponsored by a Governmental Entity, and no completed audit, compliance filing or closing agreement has resulted in the imposition
of any material Tax, interest or penalty that has not been satisfied.

 

Section 3.22 Employees;
Labor.

 

(a) There
has not been, nor to the Company’s Knowledge has there been a written threat of, any union organizing, labor strike, labor dispute,
walkout, slowdown, picketing, refusal to cross picket lines, stoppage or lockout pending concerning the Company or involving any employee
of the Company. The Company is not party to or bound by any collective bargaining agreement, Contract or other agreement or understanding,
or any duty to bargain, with a labor union, works council or other labor organization, and, to the Company’s knowledge, no labor
union, works council or labor organization represents any employees of the Company in respect of their employment with the Company. There
is not pending any request or demand that the Company recognize any labor organization as the bargaining representative of any employees
of the Company, and no petition for election or unfair labor practice charge is pending or, to the Company’s Knowledge, threatened
to be filed with any Governmental Authority.

 

(b) Schedule
3.22 contains a list of all the current Company Service Providers who receives an average monthly payment of more than US$ 1,000 as
of the date of this Agreement has been made available to the Purchaser via a virtual data room and correctly reflects (i) their dates
of employment; (ii) their job titles and positions; (iii) work location; (iv) employment classifications (including whether each
Company Service Provider is (A) full-time or part-time, (B) hourly or salaried and (C) an employee, contractor or intern); (v) classification
as exempt or non-exempt under applicable overtime, wage and hour regulation, including the Hours of Work and Rest Law, 1951; (vi) all
compensation and benefits to which each such person is entitled, including their hourly rate of compensation (in case of hourly workers),
monthly base salary or annual salary, any other compensation payable to them, whether in cash or otherwise (including housing allowances,
cash compensation payable pursuant to bonus, deferred compensation, travel allowances or commission arrangements), social benefits (including
bituach menahalim and keren hishtalmut), recuperation pay entitlement or other benefits, and each Company Employee Plan
in which they participate or are eligible to participate; (vi) the number of hours and days of sick time to which such persons are
entitled and which have accrued; (vii) the vacation days to which such persons are entitled, annual entitlement to vacation days
and their accrued and unpaid vacation days; (viii) length of notice period required in order to terminate their employment, if any; (ix) automobiles
and other benefits in kind; and (x) their respective contribution rates and the salary basis for such contributions and whether such persons
are subject to the arrangement set forth in Section 14 of the Israeli Severance Pay Law, 1963 (the “Section 14 Arrangement”)
(and, to the extent any such person is subject to the Section 14 Arrangement, an indication of whether such arrangement has been applied
to such person from the commencement date of his or her employment and on the basis of his or her entire salary); (xii) their most recent
compensation increase including the date and amount thereof; (xiii) whether such persons are on leave or scheduled to be on leave (and
if so, the category of leave, the date on which such leave commenced or will commence and the date of expected return to work) and (xiv) visa
status, if applicable.

 

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Except as set forth on Schedule 3.22(b),
no promises or commitments have been made to any of the Company Service Providers, whether in writing or orally, with respect to any future
changes or additions to their compensation or benefits. All Company Service Providers are properly classified and to the Company's Knowledge,
no Company Service Provider which is not an employee of the Company or the US Subsidiary would not reasonably be expected to be reclassified
by any Governmental Entity as an employee of the Company or the US Subsidiary, and all such Persons’ agreements contain provisions
which state that no employer-employee relations exist between such Persons and the Company. No Company Service Providers who is not an
employee of the Company or the US Subsidiary is entitled to any rights under any applicable labor laws. All current and former Company
Service Providers have received all of their rights to which they are and were entitled according to applicable Laws and their contracts
with the Company. Except as set forth on Schedule 3.22(b), the Company does not engage any personnel through manpower agencies.

 

(c) Without
derogating from any of the above representations, the Company’s liability towards Company’s employees regarding severance
pay, accrued vacation and contributions to all Company Employee Plans are fully funded or, if not required by any source to be funded,
are accrued on the Company’s financial statements as of the date of such financial statements. The Section 14 Arrangement was properly
applied for in accordance with the terms of the general permit issued by the Israeli Minister of Labor regarding all former and current
employees of the Company who reside in Israel based on their full salaries and from their commencement date of employment. All amounts
that the Company is legally or contractually required to either (i) deduct from its employees’ salaries and any other compensation
or benefit or to transfer to such employees’ Company Employee Plan or (ii) withhold from employees’ salaries and any other
compensation or benefit and to pay to any Governmental Entity as required by any Applicable Laws have in either case been duly deducted,
transferred, withheld and paid, and the Company does not have any outstanding obligation to make any such deduction, transfer, withholding
or payment (other than routine payments, deductions or withholdings to be timely made in the ordinary course of business and consistent
with past practice).

 

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(d) The
Company is, at all times has been, in material compliance with all applicable Laws respecting labor and employment, employment practices,
and terms and conditions of employment. (i) each employee performing service for the Company has been classified properly as exempt or
non-exempt under applicable Law concerning wages and hours of employment, and (ii) each Person performing services for the Company as
a volunteer, contractor or other non-employee classification has been properly classified as such by the Company.

 

(e) All
payments to Company Service Providers made by the Company have been in payment of bona fide fees and commissions and not as bribes, kickbacks
or as otherwise illegal or improper payments. All such payments have been made directly to the parties providing the goods or services
for which such payments were made, and no such payment has been paid in a manner intended to avoid currency controls or any party’s
Tax reporting or Tax payment obligations. The Company has properly, fairly and accurately reflected on its books and records: (i) all
compensation paid to and perquisites provided to or on behalf of its agents and employees; and (ii) all compensation and perquisites
that are due and payable or deferred and payable to such persons, but which have not been paid or provided at the Closing Date. Such compensation
and perquisites have been properly and accurately disclosed in the respective Financial Statements and other public or private reports,
records or filings of the Company, to the extent required by Law.

 

(f) The
Company has been, operated in compliance in all material respects with all Applicable Laws relating to employment, termination of employment
and labor matters, including but not limited to, discrimination in employment, terms and conditions of employment, worker classification
(including the proper classification of workers as independent contractors, consultants and advisors), wages, pay slips, working hours,
overtime and overtime payments, working during rest days, social benefits contributions, termination and severance payment and engaging
employees through services providers (including manpower employees and service providers in accordance with the Israeli Law for Strengthening
the Enforcement of Labor Laws-2011 ), collective bargaining, extension orders, civil rights, safety and health, immigration, work-authorization,
privacy issues, fringe benefits, employment practices and the collection and payment of withholding or social security taxes and any similar
tax. The Company does not have any outstanding obligations with respect to non-payment of wages. The Company did not receive written notice
of complaints, charges or claims against the Company, and there are no controversies, complaints, charges or claims pending or, to the
Knowledge of the Company, threatened, between the Company and any current or former Company’s employees, based on, arising out of,
in connection with or otherwise relating to the employment or termination of employment or failure to employ by the Company, of any individual
or Company Service Providers, which controversies have resulted or would reasonably be expected to result in a Proceeding before any Governmental
Entity.

 

(g) Except
as set forth on Schedule 3.22(h), the Company has paid in full to each employee all wages, salaries, commissions, bonuses and other
compensation due to such Person as of the date hereof and as of the Closing Date.

 

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(h) To
the Company’s Knowledge, no current or former officer, director or employee of the Company is a party to, or is otherwise bound
by, any agreement or arrangement, including any confidentiality, non-competition, non-solicitation or proprietary rights agreement, between
such employee, officer or director and any other Person that in any way adversely affected, affects or may affect (i) the performance
of his or her duties as an employee, officer or director of the Company, or (ii) the ability of the Company to conduct business. Except
as set forth on Schedule 3.22(h), no third party has notified the Company that any Person currently or formerly engaged or employed
by the Company (i) has violated any of the terms or conditions of any employment, non-competition, non-solicitation or non-disclosure
agreement that such Person has entered with any third party, (ii) has disclosed or utilized any trade secret or proprietary information
or documentation of any third party, or (iii) has interfered in the employment relationship between any third party and any of such third
party’s present or former employees. The Company is not obligated to indemnify any Person for such Person’s breach of any
terms or conditions of any employment, non-competition, non-solicitation or non-disclosure agreement that such Person has entered with
any third party. Each current and former employee of the Company has executed an employee confidentiality and inventions agreement substantially
in the form provided to Purchaser.

 

(i) To
the Company’s Knowledge, no allegations of sexual harassment or sexual misconduct have been made against (i) any officer or director
of the Company or (ii) any employee of the Company. The Company has not entered into any settlement agreement relating to the allegations
of sexual harassment or sexual misconduct by any director, officer or other employee.

 

(j) No
independent contractor of the Company has given notice that he or she intends to terminate or materially reduce his or her relationship
with the Company.

 

(k) The
employment of each of the current Company Service Providers is terminable by the Company without cause, subject only to the terms of the
respective engagement agreement and applicable Legal Requirements.

 

(l) All
of the employees of the Company which have been terminated prior to the date hereof shall not be employed by the Company as of the Closing
and the Company shall have performed a final settlement with each of them and paid all related amounts prior to the Closing.

 

Section 3.23 Related
Parties Transactions. Other than set forth in Schedule 3.23, the Company (a) has not entered into any agreement, Contract,
arrangement or other transaction or business relationship with any Related Party other than employment agreements and Benefit Plans in
the ordinary course of an employment relationship consistent with the Company’s practices and policies with respect to employees
generally, and (b) is not owed and does not owe any financial obligation to or from any Related Party (excluding employee compensation
and other ordinary incidents of employment in the ordinary course of business consistent with past practice and consistent with the Company’s
practices and policies with respect to employees generally). No property or interest in any property (including designs and drawings concerning
machinery) that relates or pertains to or is or will be necessary in the present or currently contemplated future operation of the business
of the Company is owned by or leased by or to any Related Party.

 

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Section 3.24 Customers;
Suppliers.

 

(a) Schedule
3.24(a) sets forth a complete and accurate list of the top 20 customers of the Company, determined based on revenue received from
such customers, for each of the 2019 and 2020 calendar years (each such customer, a “Material Customer”).

 

(b) Schedule
3.24(b) sets forth a complete and accurate list of the top 20 suppliers to the Company, determined by dollar purchase volume (measured
by gross amount) as made by the Company during each of the 2019 and 2020 calendar years (each such supplier, a “Material Supplier”).

 

(c) Other
than as set forth in Schedule 3.24(c), the Company has not received any written or, to the Company’s Knowledge, oral notice
from any Material Customer or Material Supplier to the effect that, and the Company does not have any Knowledge that, any such Material
Customer or Material Supplier, (i) with respect to Material Customers, has ceased or materially reduced, or intends to cease or materially
reduce, doing business with or refuse or otherwise fail to purchase or pay for goods or services from the Company, or (ii) with respect
to Material Suppliers, has ceased or materially reduced, or intends to cease or materially reduce, doing business with or refuse or otherwise
fail to supply goods or services to the Company, in each case consistent with past practices. The Company has not received any written,
or, to the Company’s Knowledge, oral, notice from any customer requesting a benefit, credit, compensation, reperformance or other
recourse on account of any alleged deficiency (including failure to meet timelines) relating to or arising from goods provided or services
performed by the Company for such customer, and the Company has no Knowledge of any such claim by any customer. The Company is not involved
in any material dispute with any Material Customer or Material Supplier.

 

Section 3.25 Insurance.
Schedule 3.25(a) sets forth a complete and accurate list of all insurance policies and programs maintained by or for the benefit
of the Company or in respect of its assets, liabilities, properties or businesses as of the date of this Agreement (the “Insurance
Policies”). All such Insurance Policies are in full force and effect and the Company is not in material default with respect
to its obligations thereunder. Except as set forth on Schedule 3.25(b), all premiums with respect to the Insurance Policies have
been paid in full and the Company has not received any written notice of cancellation, material change in premium or denial of renewal
in respect of any of the Insurance Policies. The Company has provided to Purchaser true, correct and complete loss runs for all Insurance
Policies and a true, correct, and complete list of all open claims or circumstances with respect to which notice has been provided to
the insurer or managing general agent thereof. The Company has not made any claim against an Insurance Policy as to which the insurer
is denying coverage or defending the claim under a reservation of rights. To the Company’s Knowledge, there presently exist no claims
or circumstances that are reasonably likely to give rise to claims under the Insurance Policies as to which notice has not been provided
in accordance with the terms of the applicable Insurance Policies.

 

Section 3.26 Names;
Officers and Bank Accounts. Except as set forth on Schedule 3.26(a), the Company has never used any name or names under
which it has invoiced account debtors, maintained records concerning its assets or otherwise conducted business, other than the exact
name set forth in its articles or certificate of incorporation (as amended to date). Schedule 3.26(b) lists all of the managers,
directors, officers, bank accounts, safety deposit boxes and lock boxes (designating each authorized signatory with respect thereto) of
the Company.

 

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Section 3.27 Accounts
Receivable. All of the accounts receivable owing to the Company as reflected on the balance sheet set forth in the Interim Financial
Statements (to the extent not received since such date), net of applicable reserves, constitute valid and enforceable claims arising from
bona fide transactions for goods sold or services performed in the ordinary course of business. No material account debtor has refused
or threatened to refuse to pay, for any reason, any material obligations owed to the Company. All accounts receivable are, to the Company’s
Knowledge, fully collectible and no account receivable is subject to any counterclaim, set-off, defense, security interest, claim, or
other encumbrance.

 

Section 3.28 Brokers.
Neither the Company nor any of its Affiliates has dealt with or made any arrangement or agreement with any Person who is entitled to a
broker’s commission, finder’s fee, investment banker’s fee or similar payment from the Company or any of its Affiliates
with respect to the transactions contemplated by this Agreement or introducing the parties to each other.

 

Section 3.29 Accredited
Investors and Qualified Investors. Fewer than 35 of the Shareholders entitled to receive Purchaser Share Consideration pursuant to
Section 2.3 are not Accredited Investors (as such term is defined under Reg. S) or otherwise exempted by virtue of Section 15A
of the Israeli Securities Law, 1968, and if any such Shareholder is not a natural person, such Shareholder was not organized solely for
the purpose of acquiring Ordinary Shares of Purchaser.

 

Article IV

REPRESENTATIONS AND WARRANTIES OF PURCHASER

 

Purchaser hereby makes the representations
and warranties to the Company that are set forth in this ‎Article IV as of the date hereof and as of the Closing Date
(except to extent that such representations and warranties speak as of a specific date, in which case such representations and warranties
are and will be complete and accurate as of such specific date).

 

Section 4.1 Organization
and Existence. Purchaser is a corporation and Merger Sub is a corporation, and each is duly organized and validly existing under the
Laws of the state of its incorporation. Purchaser and Merger Sub have each qualified as a foreign corporation, and are in good standing,
under the Laws of all jurisdictions where the nature of their respective businesses or the nature or location of their respective assets
require such qualification and where the failure to so qualify would reasonably be expected to have a material adverse effect on the business,
operations (including results of operations), assets, liabilities, or financial condition of Purchaser or Merger Sub or on the ability
of the parties to consummate the transactions contemplated by this Agreement.

 

Section 4.2 Power
and Authority. Purchaser and Merger Sub each have full corporate power and authority to enter into and perform this Agreement and
all the other Transaction Documents to be executed or delivered by them in connection with the transactions contemplated by this Agreement.
The execution, delivery and performance of this Agreement and the other Transaction Documents to which each is a party by Purchaser and
Merger Sub and the consummation by Purchaser and Merger Sub of the transactions contemplated in this Agreement and the other Transaction
Documents to which Purchaser and Merger Sub are a party have been duly and validly approved by each of Purchaser’s and Merger Sub’s
boards of directors and by Merger Sub’s sole shareholder. The approval of Purchaser’s stockholders for Purchaser to execute
this Agreement and the other Transaction Documents to which Purchaser is a party or consummate the transactions contemplated by this Agreement
is either not required or has been duly given. Other than the adoption of this Agreement by Purchaser in its capacity as the sole shareholder
of Merger Sub, which shall occur on the date of this Agreement, no other Proceedings are necessary on the part of Purchaser or Merger
Sub to authorize the execution, delivery and performance of this Agreement and the other Transaction Documents by Purchaser or Merger
Sub and the consummation by Purchaser and Merger Sub of the transactions contemplated herein and therein.

 

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Section 4.3 Enforceability.
This Agreement has been duly authorized, executed and delivered by duly authorized officers or other signatories of each of Purchaser
and Merger Sub, and the material terms of the Merger have been approved by Purchaser’s board of directors and, assuming due authorization,
execution and delivery by the other parties, constitutes a legal, valid and binding obligation of Purchaser and Merger Sub, respectively,
enforceable against each of Purchaser and Merger Sub in accordance with its terms, except to the extent enforcement may be affected by
Laws relating to bankruptcy, reorganization, insolvency and creditors’ rights and by the availability of injunctive relief, specific
performance and other equitable remedies. At the Closing, the Transaction Documents to be executed and delivered by each of Purchaser
and Merger Sub will have been duly executed and delivered by duly authorized officers of Purchaser and Merger Sub, respectively, and,
assuming due authorization, execution and delivery by the other parties thereto, will constitute valid and binding obligations of each
of Purchaser and Merger Sub, enforceable in accordance with their terms, except to the extent enforcement may be affected by Laws relating
to bankruptcy, reorganization, insolvency and creditors' rights and by the availability of injunctive relief, specific performance and
other equitable remedies.

 

Section 4.4 Capitalization .
The issued and outstanding share capital of Purchaser, as of the date hereof on a Fully Diluted As Converted Basis is as set forth
on Schedule 4.4. Other than set forth in Schedule 4.4, as of the date hereof there are no outstanding warrants and/or options
to purchase shares of the Purchaser and there is no undertaking or understanding in connection with the issuance of any shares or
securities of the Purchaser. "Fully Diluted As Converted Basis" shall include all shares of Purchaser (whether ordinary
shares, preferred shares, or otherwise) which are issued and outstanding at the time, as well as all shares issuable assuming the
exercise, conversion or exchange into shares of all warrants, options, notes, debentures, or other rights, securities, agreements or
other commitments which by their terms are exchangeable, exercisable or convertible (taking into account anti-dilution or other
similar rights), directly or indirectly, for or into share capital of the Parent, whether or not vested, and whether outstanding,
promised or contingent.

 

Section 4.5 Consents;
Non-contravention. Neither Purchaser nor Merger Sub needs to give any notice to, make any filing with or obtain any authorization,
consent, Order or approval of any Governmental Entity in connection with the execution and delivery of this Agreement and the other Transaction
Documents or the consummation of the transactions contemplated herein and therein. Neither the execution, delivery and performance of
this Agreement and the other Transaction Documents, nor the consummation of the transactions contemplated herein and therein: (a) will
violate any provision of the Organizational Documents of Purchaser or Merger Sub; (b) will violate any Law or Order to which Purchaser
or Merger Sub or any of Purchaser’s or Merger Sub’s assets or businesses is subject or otherwise bound; or (c) will result
in the creation or imposition of any Lien (other than Permitted Liens) upon any of the material assets or businesses of Purchaser or Merger
Sub.

 

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Section 4.6 Brokers.
Neither Purchaser nor any of its Affiliates has dealt or made any arrangement or agreement with any Person who is entitled to a broker’s
commission, finder’s fee, investment banker’s fee or similar payment with respect to the transactions contemplated by this
Agreement or introducing the parties to each other.

 

Section 4.7 SEC
Reports. A true and complete copy of each annual, quarterly and other report, registration statement, and definitive proxy statement
filed by Purchaser with the SEC since January 1, 2020 and prior to the date hereof (the “Purchaser’s SEC Documents”)
is available on the web site maintained by the SEC at http://www.sec.gov, other than portions in respect of which confidential treatment
was granted by the SEC. As of their respective filing dates, the Purchaser’s SEC Documents complied in all material respects with
the requirements of the Securities Act and the Exchange Act, as the case may be, and the rules and regulations of the SEC promulgated
thereunder applicable to such Purchaser’s SEC Documents, and none of the SEC Documents, when filed, contained any untrue statement
of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein,
in the light of the circumstances under which they were made, not misleading. The financial statements of Purchaser included in the SEC
Documents comply in all material respects with applicable accounting requirements and the rules and regulations of the SEC with respect
thereto as in effect at the time of filing. Such financial statements have been prepared in accordance with GAAP applied on a consistent
basis, except as may be otherwise specified in such financial statements or the notes thereto, and fairly present in all material respects
the financial position of Parent as of and for the dates thereof and the results of operations and cash flows for the periods then ended,
subject, in the case of unaudited statements, to normal, year-end audit adjustments.

 

Section 4.8 Share
Consideration. The shares of Ordinary Shares of Purchaser to be issued by Purchaser as part the Merger Consideration have been duly
authorized, and upon consummation of the Merger and the issuance of such shares of Ordinary Shares of Purchaser pursuant to and in accordance
with the terms hereof, will be (a) validly issued, fully paid and non-assessable, and (b) issued in compliance with applicable Law.

 

Section 4.9 No
Other Representations. Purchaser acknowledges and agrees that neither the Company nor any Equityholder is making any representation
or warranties whatsoever, express or implied, except for the representations and warranties contained in ‎Article III and any
representations and warranties contained in the Transaction Documents. Any claims Purchaser may have for breach of representation or warranty
of this Agreement shall be based solely on the representations and warranties of the Company as set forth in ‎Article III an
any representations and warranties contained in the Transaction Documents.

 

Section 4.10 No
Litigation. There are no Proceedings pending or, to the Knowledge of Purchaser, threatened against Purchaser or Merger Sub or any
of their Affiliates, that are reasonably likely to prohibit or restrain the ability of Purchaser or Merger Sub to enter into this Agreement
or consummate the Merger and the other transactions contemplated hereunder.

 

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Section 4.11 Purchaser
Material Contracts. Purchaser has made available to the Company accurate and complete (except for applicable redactions thereto) copies
of all contract, including all amendments and purchase orders thereto (i) with the top 10 customers (including purchase orders), distributors
or suppliers of the Purchaser which whom the Purchaser has a contract (excluding the agreements relating to the land purchase and facility
construction in the Republic of Korea); (ii) Contracts pursuant to which the use by the Purchaser of Intellectual Property is permitted
by any Person; and (iii) Contracts pursuant to which the Purchaser licenses or sublicenses any Intellectual Property to any Person, other
than (A) non-exclusive licenses granted to vendors and other contractors solely for the purposes of providing services to Purchaser and
(B) non-exclusive licenses granted to customers of Purchaser in the ordinary course of business consistent with past practice, and (iv)
material contracts pursuant to which any Intellectual Property was developed for the Purchaser.

 

Section 4.12 No
Operations of Merger Sub. Merger Sub has been formed solely for the purpose of engaging in the Transaction and is not currently engaged
and, prior to the Effective Time will not have engaged in any other business activities and will have incurred no liabilities or obligations
other than as contemplated by this Agreement.

 

Article V

COVENANTS OF THE COMPANY

 

Section 5.1 Reasonable
Access. During the period between the date hereof and the earlier to occur of the termination of this Agreement pursuant to and in
accordance with ‎Article XI or the Closing (such period, the “Pre-Closing
Period”), upon reasonable advance notice from Purchaser, the Company shall give to Purchaser’s officers, employees, agents,
attorneys, consultants, accountants and lenders reasonable access during normal business hours to all of the properties, books, Contracts,
documents, insurance policies, records and senior management of or with respect to the Company and shall furnish to Purchaser and such
Persons as Purchaser may designate from time to time in writing to the Company such information as Purchaser or such Persons may at any
time and from time to time reasonably request; provided that, the Company shall not be required to disclose any information to
Purchaser if such disclosure would, (a) in the reasonable judgment of the Company, violate applicable Law, or, (b) in the reasonable judgment
of outside counsel to the Company, jeopardize any attorney-client privilege; provided that, in any such event, the parties shall
cooperate with respect to alternative access or disclosure that would not result in such violation or loss.

 

Section 5.2 Third
Party Consents. During the Pre-Closing Period, the Company shall use its commercially reasonable efforts (including payment to any
third party of any costs or fees in connection with such consents or requests therefor to the extent required by the terms of the applicable
Contract) and make a good faith attempt, and Purchaser shall cooperate with the Company, to obtain the third party consents (which consents
shall be in form and substance reasonably satisfactory to Purchaser) to the consummation of the transactions contemplated by this Agreement
under or with respect to the Contracts, Permits and other instruments enumerated in Schedule 5.2 (“Required Consents”).

 

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Section 5.3 Operation
of the Business.

 

(a) During
the Pre-Closing Period, the Company shall (i) carry on its business in the ordinary course, except as otherwise required by this Agreement,
(ii) exercise commercially reasonable efforts to retain the services of the Key Employees, (iii) exercise commercially reasonable efforts
to maintain its books, accounts and records, perform all maintenance and repairs necessary to maintain its facilities and equipment, taken
as a whole, in good operating condition, maintain the insurance policies it currently has in place and otherwise conduct its business,
in each case in the same manner as it is currently conducted, (iv) pay its expenses and payables, and collect receivables in the
ordinary course of business consistent with past practice, (v) exercise commercially reasonable efforts to take all actions, obtain all
consents, and deliver all notices required under the terms of the Company’s Organizational Documents in connection with entry into
this Agreement and the other Transaction Documents and the consummation of the transactions contemplated hereby and thereby, (vi) comply
in all material respects with all Laws and Contracts applicable to its operations and business and maintain all Permits required for the
continuation of its operations and business, and (viii) use commercially reasonable efforts to preserve intact its corporate existence
and Owned Intellectual Property.

 

(b) During
the Pre-Closing Period, the Company shall not take or omit to take any action that would be required to be disclosed on Schedule 3.11
without the prior written consent of Purchaser (which consent shall not be unreasonably withheld, delayed or conditioned).

 

Section 5.4 Certain
Updates. During the Pre-Closing Period, the Company shall promptly notify Purchaser of:

 

(a) Any
Material Adverse Effect or any other fact or circumstance which otherwise results in the Company determining that a condition to its obligations
to consummate the transactions contemplated hereby cannot be fulfilled;

 

(b) Any
written notice or other written communication from or to any Governmental Entity in connection with the transactions contemplated hereby;

 

(c) Any
written notice or other written communication from any Person alleging that the consent of such Person is or may be required in connection
with the transactions contemplated hereby;

 

(d) Any
Proceeding commenced, threatened against, relating to or involving or otherwise affecting the Company that, if pending on the date hereof,
would have been required to have been disclosed pursuant to this Agreement; and

 

(e) (i)
The damage or destruction by fire or other casualty of any material asset or part thereof or (ii) any asset or part thereof becoming the
subject of any proceeding or threatened proceeding for the taking thereof or of any right relating thereto by condemnation, eminent domain
or other similar governmental action.

 

The Company hereby acknowledges that Purchaser
does not and shall not waive any right it may have hereunder as a result of such notifications and any notification given pursuant to
this ‎Section 5.4 shall (i) not have any effect for purposes of determining satisfaction of the conditions set forth in
‎Section 8.2 of this Agreement, (ii) not in any way limit Purchaser’s exercise of its rights hereunder, including
those rights set forth in ‎Article IX; and (iii) not constitute an update or supplement to the Schedules for any purpose.

 

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Section 5.5 Exclusivity.

 

(a) During
the Pre-Closing Period, the Company hereby covenants and agrees that it:

 

(i) will
discontinue and cause to be terminated any activities or negotiations currently in process or under discussion with any Person regarding
any offer or proposal or indication of interest in a merger, consolidation or other business combination involving any Equity Interest
in, or a substantial portion of the assets of, the Company;

 

(ii) will
not, and will cause its employees, officers, directors, investment bankers, financial advisors, attorneys or other agents or authorized
representatives, directly or indirectly, not to: (A) solicit or encourage, or take any other action to facilitate, any inquiries or the
making of any proposal relating to, any Competing Transaction, (B) enter into discussions or negotiate with any Person with respect to
any Competing Transaction, or (C) endorse or agree to endorse any Competing Transaction. Promptly following the receipt of any inquiry,
proposal or other communication relating to a Competing Transaction (and in any event within two Business Days thereafter), the Company
will notify Purchaser of such receipt and provide a description, in reasonable detail, of all material terms of such inquiry or proposals.
For purposes of this Agreement, a “Competing Transaction” means any of the following: (I) any merger, consolidation,
share exchange, business combination, joint venture, partnership, or similar transaction (or series of transactions) involving the Company;
(II) any sale, lease, exchange, mortgage, pledge, transfer or other disposition of a material portion of the assets of the Company, (III)
any transaction contemplating either the issuance by the Company of share capital, or the acquisition (directly or indirectly) by any
Person of any of the Company’s share capital (excluding in connection with the exercise of Company Convertible Instruments, Company
Warrants and Company Options outstanding as of the date of this Agreement in accordance with their terms), other than financing agreements,
which the Company shall be entitled to pursue during the Pre-Closing Period, provided, that, those financing
agreements will not contain any provisions that could interfere with the consummation of the transactions contemplated hereby and each
party to such financing agreements shall sign the Voting Agreement as a condition to providing financing to the Company; or (IV) any similar
transaction, in each case other than the transactions contemplated by this Agreement.

 

(b) Prior
to execution of this Agreement, the Company has discontinued and caused to be terminated, and will continue during the Pre-Closing Period
to prevent and not provide or permit, any access to any data room (whether virtual or physical), including the Data Room, or other non-public
information with respect to the Company in connection with any Competing Transaction, or other due diligence activities on the part of
any Person other than Purchaser and its officers, directors, members, shareholders, affiliates, employees, agents, advisors (including
financial advisors, attorneys and accountants), consultants or other representatives.

 

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Section 5.6 Shareholder
Consent.

 

(a) The
Company shall obtain and deliver to Purchaser, simultaneously with the execution of this Agreement, the Voting Agreement executed by the
Requisite Supporting Shareholders. The materials submitted to the Shareholders in connection with seeking the Shareholder Approval shall
include the recommendation of the Company’s Board of Directors in favor of the adoption of this Agreement and the transactions contemplated
hereby.

 

(b) The
Company shall use commercially reasonable efforts to obtain an executed Voting Agreement from each Shareholder (in addition to the Requisite
Supporting Shareholders) as soon as possible after the date hereof, and in any case prior to the date of the Company Shareholders Meeting
referred to in Section 13.4 below.

 

Section 5.7 Termination
of Shareholder Agreements and Related Party Agreements. The Company shall, and shall cause the applicable Shareholders to, cause the
termination, effective as of no later than immediately prior to the Closing, of all shareholder agreements, investors’ rights agreements,
voting agreements, voting trusts, right of first refusal and co-sale agreements, management rights agreements and all other similar agreements
or contracts relating to the Company to which any of them may be party (the “Shareholders Agreements”), in each case,
without any liability to the Company. The Company shall cause the termination of all other Contracts between the Company and a Related
Party identified in Schedule 5.7, effective as of no later than immediately prior to the Closing, in each case, without any liability
to the Company.

 

Section 5.8 Financial
Statements. The Company shall make commercial reasonable efforts to deliver to the Purchaser by the Closing Date audited consolidated
balance sheets and related statements of operations, stockholders’ equity and cash flows (together with all notes thereto) of the
Company as of and for the year ended December 31, 2020, prepared in accordance with US GAAS; provided that, it is agreed that the Purchaser
shall not have the right to delay the Closing as a result of non-delivery of such materials on or before the Closing, and further provided
that the Purchaser will bear 50% of all pre-approved costs of the US GAAS audit, if the Closing does not occur.

 

Article VI

COVENANTS OF PURCHASER

 

Section 6.1 Confidentiality
Agreement. That certain Mutual Confidential Disclosure Agreement, dated March 3, 2021, between the Company and Purchaser (the “Confidentiality
Agreement”) shall remain in full force and effect in accordance with its terms, and shall survive the execution of this Agreement
notwithstanding the terms thereof (provided that, the parties acknowledge and agree that this Agreement constitutes a final “definitive
agreement” as referred to therein). The provisions of this ‎Section 6.1
and the Confidentiality Agreement shall terminate upon the Closing.

 

Section 6.2 Officers’
and Directors’ Liability.

 

(a) Prior
to the Effective Time, the Company shall procure and bind a tail insurance coverage policy (the “Tail Insurance Coverage”)
for the benefit of the officers, directors and other Persons who, as of the Closing Date, are covered by the Company’s currently
effective directors’ and officers’ and other management liability insurance policy (such persons, the “Indemnified
Persons”), which shall provide the Indemnified Persons with coverage in respect of acts or omissions occurring at or prior to
the Effective Time for a period of six years following the Effective Time in an amount not less than, and that shall have other terms
not materially less favorable to the Indemnified Persons than, the directors’ and officers’ and other management liability
insurance coverage presently maintained by the Company. Purchaser shall cause the Surviving Corporation to maintain the Tail Insurance
Coverage in full force and effect and continue to honor the obligations thereunder until the sixth anniversary of the Effective Time.
The Indemnified Persons are third party beneficiaries of this provision.

 

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(b) Purchaser
agrees to cause the Surviving Company to honor in accordance with their terms the provisions of the indemnification agreements listed
in Exhibit G hereto with respect to indemnification of officers, directors, employees and agents of the Company (including provisions
relating to contributions, advancement of expenses and the like if covered under such indemnification agreements) and agrees that prior
to the six year anniversary of the Effective Time, such rights shall not be modified or amended except as required by Law, unless such
modification or amendment expands the rights of the foregoing persons to indemnification (including with respect to contribution, advancement
of expenses and the like). Purchaser acknowledges that any claims for indemnification made by any such indemnified person on or prior
to the sixth anniversary of the Effective Time and covered under such indemnification agreements shall survive such sixth anniversary
until the final resolution thereof. The foregoing Persons, who may be identified within the Company’s Organizational Documents,
are third party beneficiaries of this provision.

 

(c) Purchaser
agrees that as of the Closing and until the last Milestone Target Date (the “Milestones Period”), Purchaser will provide
the Company such financing and suitable workforce and other resources which are reasonably required in order for the Company to achieve
the Milestones, according to a plan which will be agreed by each of the Purchaser and the Company during the Pre-Closing Period.

 

Article VII

JOINT COVENANTS

 

Section 7.1 Commercially
Reasonable Efforts. During the Pre-Closing Period, each of the parties shall use all commercially reasonable efforts to take, or cause
to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable to consummate the transactions contemplated
by this Agreement and the other Transaction Documents as soon as practicable.

 

Section 7.2 Further
Assurances. From and after the Closing, the parties will execute such further documents, and perform such further acts, as may be
necessary to comply with this Agreement and the other Transaction Documents and consummate the transactions contemplated by this Agreement
and the other Transaction Documents.

 

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Article VIII

CONDITIONS TO CLOSING

 

Section 8.1 Conditions
to the Company’s Obligations. The obligation of the Company to close the transactions contemplated by this Agreement is subject
to the fulfillment (or waiver by the Company, to the extent permitted by Law) of each of the following conditions on or prior to the Closing
Date:

 

(a) The
representations and warranties made by Purchaser and Merger Sub in ‎Article IV
of this Agreement shall be complete and accurate in all material respects (it being understood that, for purposes of determining the accuracy
of such representations and warranties in this ‎Section 8.1‎(a),
all “Material Adverse Effect” and other materiality qualifications contained in such representations and warranties shall
be disregarded) as of the date of this Agreement and as of the Closing Date as though then made and as though the Closing Date was substituted
for the date of this Agreement throughout such representations and warranties (except, in each case, to the extent such representations
and warranties are made on and as of a specified date, in which case the same shall continue on the Closing Date to be so complete and
accurate as of the specified date).

 

(b) All
covenants and agreements of Purchaser and Merger Sub to be performed hereunder through and including the Closing Date (including all covenants
and agreements Purchaser or Merger Sub would be required to perform at the Closing if the transactions contemplated by this Agreement
were consummated) shall have been fully performed or complied with in all material respects.

 

(c) Purchaser
and Merger Sub, as applicable, shall have delivered to Company each of the agreements, documents and instruments required to be delivered
pursuant to ‎Section 2.9(a).

 

(d) No
Material Adverse Effect on the Purchaser, and no event or circumstance that would reasonably be expected to result in a Material Adverse
Effect, shall have occurred between the date of this Agreement and the Closing Date.

 

(e) The
104H Interim Tax Ruling and an interim 102 Tax Ruling has been obtained from the ITA.

 

Section 8.2 Conditions
to Purchaser’s and Merger Sub’s Obligations. The obligation of Purchaser and Merger Sub to close the transactions contemplated
by this Agreement is subject to the fulfillment (or waiver by Purchaser, to the extent permitted by Law) of each of the following conditions
on or prior to the Closing Date:

 

(a) (i)
The representations and warranties contained in ‎Section 3.1 (Organization;
Existence), ‎Section 3.2 (Power and Authority), ‎Section 3.3
(Enforceability), clauses (a) and (c) of the second sentence of ‎Section 3.4
(Consents; Non-contravention), ‎Section 3.5 (other than the last sentence
of ‎Section 3.5(c) and ‎Section 3.5(f)),
‎Section 3.28 (Brokers) and Section 3.29 (Accredited Investors and
Qualified Investors) shall be complete and accurate in all respects as of the date of this Agreement and shall be complete and accurate
in all respects as of the Closing Date as though then made and as though the Closing Date was substituted for the date of this Agreement
throughout such representations and warranties (except, in each case, to the extent such representations and warranties are made on and
as of a specified date, in which case the same shall continue on the Closing Date to be so complete and accurate as of the specified date),
other than, solely in the case of the representations and warranties contained in ‎Section 3.5
(Capitalization), de minimis inaccuracies in the representations and warranties as of such date and (ii) all other representations and
warranties contained in ‎Article III shall be complete and accurate in all
material respects (it being understood that, for purposes of determining the material accuracy of such representations and warranties
in this ‎Section 8.2‎(a), all “Material
Adverse Effect” and other materiality qualifications contained in such representations and warranties shall be disregarded) as of
the date of this Agreement and as of the Closing Date as though then made and as though the Closing Date was substituted for the date
of this Agreement throughout such representations and warranties (except, in each case, to the extent such representations and warranties
are made on and as of a specified date, in which case the same shall continue on the Closing Date to be so complete and accurate as of
the specified date).

 

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(b) All
covenants and agreements of the Company to be performed hereunder through and including the Closing Date (including all covenants and
agreements that the Company would be required to perform at the Closing if the transactions contemplated by this Agreement were consummated)
shall have been fully performed or complied with in all material respects.

 

(c)
No Material Adverse Effect, and no event or circumstance that would reasonably be expected to result in a Material Adverse Effect, shall
have occurred between the date of this Agreement and the Closing Date.

 

(d) The
Company or the Equityholder Representative, as applicable, shall have delivered to Purchaser each of the documents required to be delivered
by it at the Closing pursuant to ‎Section 2.9(b).

 

(e) The
Shareholder Approval shall have been obtained.

 

(f) At
least 80% of the Key Employees has remained employed with the Company executed a retention agreement with Purchaser and the Company (the
“Key Employee Agreements”) (provided, however, that such percentage must include the Key Employee Employment Agreement
with all the Essential Key Employees, as defined in Schedule 1.1). Notwithstanding the foregoing, in the event that the Purchaser
has not provided the Company with the form and principle commercial terms of the Key Employee Agreements proposed to the Key Employees
by August 30, 2021, then the execution of the Key Employee Agreements shall not be a condition to Closing.

 

(g) A
restrictive covenant Agreement with Mr. Eyal Toledano shall be executed in a form which will be agreed between the Purchaser and Mr. Eyal
Toledano and shall remain in full force and effect on and as of the Closing Date.

 

(h) All
of the Company Intellectual Property is free and clear of any Encumbrances other than Permitted Liens, and any Software which qualifies
as part of the Company Intellectual Property shall have demonstrated by a reputable third-party professional scan to be free of harmful
Open Source Code, to the full satisfaction of the Purchaser.

 

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(i) The
Company's Chief Executive Officer has confirmed in writing that the Company has (i) duly terminated any IIA grant programs which are inactive
as of the date hereof; (ii) duly submitted to the IIA all required reports and fillings (including final execution reports) with respect
to the Company's active grants, together with proof reasonably acceptable to the Purchaser that such reports were received by the IIA,
(iii) submitted all of the reports it is required to submit, up until the Closing, to Zebra Technologies Corporation, by virtue of its
settlement agreement between the Company and Zebra (dated July 30, 2020, and as amended) or otherwise that there are no outstanding claims
by Zebra Technologies Corporation with respect to non-submission of such reports by the Company.

 

The Purchaser has received (i) the audited consolidated
balance sheets and related statements of operations, stockholders’ equity and cash flows (together with all notes thereto) of the
Company as of and for the years ended December 31, 2020, prepared in accordance with US GAAP and (ii) the unaudited but reviewed balance
sheet and related statements of operations, stockholders’ equity and cash flows (together with any notes thereto), but without comparative
figures to the equivalent period of 2020, of the Company for the 6-month period ended June 30, 2021.

 

Section 8.3 Joint
Conditions to the Parties’ Obligations. The obligations of the parties to close the transactions contemplated by this Agreement
are subject to the fulfillment of all of the following conditions on or prior to the Closing Date (any of which may only be waived in
writing by each of Purchaser and the Company, to the extent permitted by Law):

 

(a) Israeli
Statutory Waiting Periods. At least 50 days shall have elapsed after the filing of the Merger Proposal with the Companies Registrar
and at least 30 days shall have elapsed after the approval of the Merger by the shareholders of the Company.

 

(b) No
Legal Prohibition. No Governmental Authority of competent jurisdiction shall have (i) enacted, issued or promulgated any Law
that is in effect and has the effect of making the Merger illegal or which has the effect of prohibiting or otherwise preventing the consummation
of the Merger, or (ii) issued or granted any Order that has the effect of making the Merger illegal or which has the effect of prohibiting
or otherwise preventing the consummation of the Merger.

 

(c)
ISA Approval. The Purchaser has received exemption from the Israeli Securities Authority according to Section 15D of the Israeli
Securities Law, 1968.

 

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Article IX

INDEMNIFICATION

 

Section 9.1 General;
Survival. The representations and warranties of the parties contained in this Agreement and in any certificate delivered by the Company
hereunder (including, for the removal of a doubt, any certificate issued by an officer of the Company as part of the Closing deliverables)
shall survive the execution and delivery of this Agreement and the Closing (and shall not merge into any instrument of conveyance). No
claim for indemnification arising out of breaches of the representations and warranties contained herein or in any certificate delivered
by the Company hereunder shall be brought more than 12 months after the Closing Date, except for claims in respect of the (i) Fundamental
Representations, which claims shall survive and may be brought until the date that is 6 years after the Closing Date, (ii) representations
under Section 3.18 (Intellectual Property), which claims shall survive and may be brought until the date that is 36 months after
the Closing Date; provided that, notwithstanding the foregoing, claims arising out of the representations and warranties
contained in ‎Section 3.10 (Taxes) may be brought until 60 days after
the expiration of the applicable statute of limitation (including any extensions or tollings thereof). The respective covenants, agreements
and obligations of the parties set forth in this Agreement or any Transaction Document shall survive the Closing in accordance with their
respective terms, and if no specific term is specified, in perpetuity. No claim for breach of any representation or warranty contained
in this Agreement or in any certificate delivered by the Company hereunder may be made, and no obligation to indemnify for such claim
will arise, unless the claim is asserted in accordance with this ‎Article IX
prior to the applicable survival termination date as set forth in this ‎Section 9.1,
provided, however, that if, at any time on or prior to the applicable survival termination date, any Purchaser Indemnitees
delivers to the Shareholders’ Representative a Claim Notice, then the claim asserted in such Claim Notice shall survive the applicable
survival termination date until such time as such claim is fully and finally resolved. It is the express intent of the parties that the
survival of the representations, warranties covenants and agreements in this Agreement and in any certificate delivered by the Company
hereunder (and the associated right to bring a claim for a breach of such representations, warranties covenants and agreements) is shorter
than the statute of limitations that would otherwise have been applicable to such representations, warranties covenants and agreements,
and, by contract, the applicable statute of limitations with respect to such representations, warranties covenants and agreements (and
the associated right to bring a claim for a breach of such representations, warranties covenants and agreements) are hereby reduced so
they end on the applicable survival termination date set forth in this Section 9.1. Each of the parties acknowledges that
this Agreement results from arm’s-length negotiations among the parties and embodies the justifiable expectations of sophisticated
parties derived from arm’s-length negotiations; Purchaser and the Company specifically acknowledge that neither Purchaser nor the
Company has any special relationship with the other party that would justify any expectation beyond that of an ordinary buyer and an ordinary
seller in an arm’s-length transaction, and there are no grounds for the tolling of any applicable statute of limitations.

 

Section 9.2 The
Equityholders’ Indemnification Obligations. Subject to the other provisions of this ‎Article IX,
from and after the Closing, by virtue of the Merger and, as applicable, by virtue of the execution of the Voting Agreements, the Equityholders
shall indemnify and hold harmless (and shall pay and compensate, regardless of whether such matters arise from Third Party Claims or direct
claims), Purchaser and its Affiliates (including, from and after the Closing, the Surviving Corporation) and the directors, officers,
managers, employees, shareholders, representatives, successors and assigns of each of them in their capacities as such (“Purchaser
Indemnitees”) for, from and against any and all Damages sustained or to be sustained by any Purchaser Indemnitee caused by,
arising out of, or resulting from:

 

(a) any
inaccuracy in or breach of any representation or warranty made by the Company to Purchaser herein or in any certificate required to be
delivered by the Company hereunder, other than the Fundamental Representations;

 

(b) any
inaccuracy in or breach of any Fundamental Representation made by the Company to Purchaser herein, or any certificate required to be delivered
by the Company hereunder;

 

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(c) any
breach by the Company of, or any failure of the Company to comply with, any of the covenants or agreements under this Agreement to be
performed by the Company;

 

(d) any
Indebtedness of the Company immediately prior to the Closing and any Transaction Expenses, solely to the extent that the same were not
included as deductions in the calculation of the Merger Consideration as finally determined pursuant to ‎Section 2.12;

 

(e) any
claims or threatened claims by current or former equity or debt holders of the Company of any kind or nature whatsoever, in their capacity
as an equity or debt holder or any other capacity, in each case whether absolute or contingent, liquidated or unliquidated, known or unknown,
and whether arising under any agreement or understanding (other than any claims (i) by current or former equity holders of the Company
against any current or former director of the Company alleging breach of fiduciary duty of such director in connection with such director’s
decision to vote in favor of approving this Agreement and the transactions contemplated hereby and (ii) for breach by Purchaser or Merger
Sub of this Agreement and/or any of the other agreements executed and delivered by Purchaser or Merger Sub in connection herewith), including
any claim or threatened claim relating to, caused by, arising out of, or resulting from the failure of the Payout Spreadsheet to be accurate
and complete in all respects at the Closing or otherwise with respect to the allocation of the Merger Consideration, and, in each case,
any failure of the Merger Consideration and the allocation thereof as set forth in the Payout Spreadsheet to have been determined in accordance
with applicable Law, all applicable Contracts, and the Organizational Documents of the Company; or

 

(f) any
Taxes or Damages payable with respect to Taxes claimed or assessed against the Purchaser, the Surviving Corporation, or Affiliates of
either of them for (i) any Pre-Closing Tax Period or the portion of a Straddle Period ending on the Closing Date, including on account
of the withholding, or necessity to withhold, Taxes on account of the conversion of any convertible instrument (including the Company
Outstanding Instruments), (ii) any Tax period with respect to any Taxes of any member of an affiliated, consolidated, combined or unitary
group of which the Company is or was a member on or prior to the Closing Date, (iii) any Tax period with respect to any Taxes of
any Person imposed on the Company as a transferee or successor in respect of a transaction or event occurring before the Closing, by Law,
Contract, or otherwise, and (iv) any Tax period attributable to Unrecognized Tax Items or as a result of the transactions contemplated
by this Agreement, except (in each case) to the extent and in such amount as such Taxes and Damages payable with respect to Taxes were
taken into account (A) in the Transaction Expense Amount, or (B) the Closing Indebtedness (each as finally determined pursuant to
‎Section 2.12);

 

(g) any
fraud committed by or on behalf of the Company.

 

The Equityholders’ indemnity
obligations pursuant to this ‎Section 9.2 shall be joint and several to the extent of the
Indemnity Escrow Amount and, after such time as no Purchaser Shares remain in the Indemnity Escrow Amount, such obligation shall be several
and not joint obligations of the Equityholders, in accordance with and to the extent of their respective Indemnifying Pro Rata Shares
of the same.

 

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Section
9.3Limitations on Indemnification Obligations. The parties’ indemnification obligations are subject to the
following limitations:

 

(a) The
Equityholders shall not have any liability under ‎Section 9.2(a) unless and
until the aggregate amount of the Damages incurred by the Purchaser Indemnitees exceeds $200,000 (the “Equityholder Threshold”),
in which case the Equityholders shall be required to pay all Damages, including the amount of the Equityholder Threshold, to the Purchaser
Indemnitees. In addition, Purchaser Indemnitees will not be entitled to assert any individual claim under ‎Section 9.3(a)
unless the Damages related to such individual claim exceed $10,000 (the “Per Claim Threshold”) and any such claim that
does not result in Damages in excess of the Per Claim Threshold will not count towards the calculation of the Equityholder Threshold;
provided, that, Damages resulting from, arising out of, imposed upon or incurred by any Purchaser Indemnitee
by reason of a breach of or inaccuracy in any of the Fundamental Representations shall not be counted towards the calculation of the Equityholder
Threshold and/or any Per Claim Threshold; provided, that, for the avoidance of doubt, whenever multiple claims
exist that arise out of the same set of facts or circumstances, such multiple claims shall be aggregated to constitute a single “individual
claim” for purposes of the preceding clause (for example, the failure to withhold taxes for all employees would not constitute a
separate item for each employee, but would be deemed a single individual item giving rise to a single Damage in the aggregate amount of
such failures); provided, that, to avoid doubt, once such Damages exceed the Per Claim Threshold, Purchaser
Indemnitees may assert such claim and all such Damages, from the first dollar thereof shall be recoverable hereunder and shall count towards
the calculation of the Equityholder Threshold; and provided, that, neither the Equityholder Threshold nor
the Per Claim Threshold shall apply to claims of willful misconduct or fraud.

 

(b) The
Equityholders shall not have any liability under ‎Section 9.2(a), for any
Damages in excess of the Indemnity Escrow Amount; provided, that, the limitation described in this Section
9.3(b) shall not apply in the case of willful misconduct or fraud.

 

(c)
(i) the aggregate amount of Damages that may be recovered by Purchaser Indemnitees under Sections 9.2(b) and (c), inclusive, shall
be an amount equal to the Merger Consideration, and (ii) no individual Equityholder shall be liable to the Purchaser Indemnitees hereunder
in excess of the amount of Merger Consideration actually received by such Equityholder hereunder (including such Equityholder’s
portion of the Escrow Amount, Expense Fund and amounts payable pursuant to ‎Section 1.1
hereof); provided, that, the limitations described in this ‎Section 9.3(c)
shall not apply to a particular Equityholder in the case of gross negligence, willful misconduct or fraud by such Equityholder.

 

(d) Notwithstanding
anything contained herein or elsewhere to the contrary, any qualifications relating to materiality, including the terms “material,”
“Material Adverse Effect,” or monetary thresholds contained in the representations and warranties (or definitions contained
in the representations and warranties) set forth in this Agreement shall be disregarded for purposes of the indemnification provisions
hereof, including for purposes of determining whether or not a breach of a representation or warranty has occurred, determining whether
the thresholds in this ‎Article IX have been surpassed and/or determining
the amount of any Damages incurred as a result of any breach of a representation or warranty.

 

(e) No
information or knowledge acquired, or investigations conducted, by Purchaser or its representatives, of the Company or any of its businesses,
assets, liabilities or otherwise, shall in any way limit, or constitute a waiver of, or a defense to, any claim for indemnification or
other claim by Purchaser or any Purchaser Indemnitee under this Agreement.

 

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(f) Neither
the Equityholder Representative nor any Equityholder shall have any claim for contribution from or against the Company as a result of
any indemnification or other payments made to any Purchaser Indemnitee pursuant to this Agreement.

 

(g) Notwithstanding
anything herein to the contrary, Purchaser Indemnitees shall not be entitled to recover under ‎Section 9.3:

 

		(i)	any exemplary and punitive Damages (except to the extent
the same are payable to a third party or result from, or arise in connection with, willful misconduct or fraud);

 

		(ii)	any Damages taken into account and actually reflected as a
reduction in the calculation of the Closing Consideration;

 

		(iii)	any Damages with respect to any amount actually received by
any Indemnified Party under applicable insurance policies or third party indemnification provisions.

 

(h) Purchaser
Indemnitees shall not be entitled to recover any Damages relating to any matter arising under one provision of this Agreement to the extent
that Purchaser Indemnitees have already recovered such Damages with respect to such matter pursuant to another provision of this Agreement.

 

(i) Subject
to ‎Section 9.5 any indemnifiable Damages owed to Purchaser or any Purchaser Indemnitee
pursuant to Section 9.3 hereunder shall first be settled out of the Indemnity Escrow Account to the extent of the then-remaining
Indemnity Escrow Amount and then, to the extent that such Damages exceed the then available portion of the Indemnity Escrow Account (for
the sake of clarity, the available portion of the Indemnity Escrow Account shall not include any portions that are subject to a previously
submitted Claim Notice) or indemnification for such Damages is due after termination of the Indemnity Escrow Account, any such indemnifiable
Damages shall be, at the sole and absolute discretion of each Equityholder, either settled in share of Ordinary Shares of Purchaser in
an amount of Purchaser Share Consideration based on such Equityholder’s Indemnifying Pro Rata Share or paid in cash directly by
the Equityholders in accordance with such Equityholder’s Indemnifying Pro Rata Share. Except as set forth in this ‎Section 9.3,
no Purchaser Indemnitee shall have any obligation to first submit, seek to collect or to actually collect upon any coverage under any
applicable policy of insurance as a precondition to asserting claim for indemnification hereunder, including for purposes of ‎Section 9.2
hereof; provided that, in the event that a Purchaser Indemnitee determines in good faith that it is reasonably likely to
incur Damages for which it may be entitled to indemnification hereunder, Purchaser shall be entitled to submit a Claim Notice in accordance
with ‎Section 9.6 for indemnification of reasonably anticipated Damages in
advance of the actual incurrence by any such Persons of the same, whether to preserve such Person’s rights to assert a claim prior
to the expiration of an applicable survival period with regard to the underlying matter, to preserve such Person’s rights under
the Escrow and Paying Agent Agreement or otherwise.

 

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It is agreed that the number of Ordinary Shares
of Purchaser which will be paid to a Purchaser Indemnity in order to settle any indemnification obligation of the Equityholders under
‎Section 9.2 out of the Indemnity Escrow Amount, will be based on the Purchaser Share Consideration Price at Closing, regardless
of the market value of the Ordinary Shares of Purchaser at the time of such payment. However, it is hereby clarified that the number of
Ordinary Shares of Purchaser which will be paid to a Purchaser Indemnity in order to settle any indemnification obligation of the Equityholders
under ‎Section 9.2 which is not out of the Indemnity Escrow Amount, will be based on the Purchaser Share Consideration
Price at the time of such settlement and payment, regardless of the market value of the Ordinary Shares of Purchaser at the time of the
Closing.

 

Section 9.4Purchaser’s
Indemnification Obligations. From and after the Closing Date, Purchaser shall indemnify and hold harmless (and shall pay and compensate,
regardless of whether such matters arise from Third Party Claims or direct claims) the Equityholder Representative, Equityholders and
their respective directors, managers, officers, members, shareholders, partners, agents, representatives, successors and assigns (“Equityholder
Indemnitees”) from and against all Damages sustained or to be sustained by any Equityholder Indemnitee caused by, arising out
of, or resulting from:

 

(a) any
inaccuracy in or breach of any representation or warranty made by Purchaser to the Company herein or in any certificate required to be
delivered by Purchaser hereunder; or

 

(b) any
breach by Purchaser or Merger Sub of, or any failure by Purchaser to comply with, any of the covenants or agreements under this Agreement
to be performed by Purchaser or Merger Sub at or prior to the Closing Date (including its obligations under this ‎Article IX).

 

Section 9.5Notice
and Determination of Claims. If any Indemnified Party believes that it has sustained or incurred any Damages, whether or not the applicable
dollar limitation specified by ‎Article IX has been exceeded, such Indemnified
Party shall so notify the Indemnifying Party promptly in writing (the “Claim Notice”) specifying the basis hereunder
upon which the Indemnified Party’s claim for indemnification is asserted and describing such Damages, the amount thereof, if known,
or a good faith estimate of the amount, and the method of computation of such Damages, all with reasonable particularity to the extent
then known. For the avoidance of doubt, all Damages caused by, arising out of, or resulting from the facts and circumstances set forth
in a Claim Notice shall be deemed reported at the time such Claim Notice was first delivered to the Indemnifying Party, regardless of
whether such Damages were known or knowable at the time of such delivery or whether or not all or any portion of such Damages had yet
been sustained by the Indemnified Party. Subject to the terms hereof, the Indemnifying Party shall, within 30 days of receipt of a Claim
Notice pursuant to this Section 9.6, either settle the amount of any valid claim, or, if the Indemnifying Party does not agree
to the amount of Damages claimed by the Indemnified Party, deliver written notice to the Indemnified Party disputing such claim in whole
or in part. In the event of any such dispute, the amount of indemnification to which a person shall be entitled under this ‎Article IX
shall be determined: (a) by the written agreement between the parties; (b) by a final judgment or decree of any court of competent
jurisdiction; or (c) by any other means to which the parties shall agree in writing. The judgment or decree of a court shall be deemed
final when the time for appeal, if any, shall have expired and no appeal shall have been taken or when all appeals taken shall have been
finally determined. A failure by an Indemnified Party to give timely, complete or accurate notice as provided in this ‎Article IX
(including pursuant to this Section 9.5 and Section 9.6) will not affect the rights or obligations of any party hereunder
except and only to the extent that, as a result of such failure, any party entitled to receive such notice was actually and materially
prejudiced as a result of such failure to give timely notice vis-à-vis its rights and obligations hereunder or otherwise. For purposes
of this ‎Article IX, the Equityholder Representative has the full, and sole
and exclusive, authority to act, and shall act, on behalf of any Equityholder as either an Indemnifying Party or the Indemnified Party.
Without limiting the foregoing, any notice that a Purchaser Indemnitee shall be required to give to any Equityholder shall be satisfied
by the delivery of notice by the Purchaser Indemnitee to the Equityholder Representative.

 

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Section 9.6Third
Party Claims.

 

(a) Promptly
following the receipt of notice of a Third Party Claim, the party receiving the notice of the Third Party Claim shall notify the other
party of its existence setting forth with reasonable specificity the facts and circumstances of which such party has received notice and,
if the party giving such notice is an Indemnified Party, specifying the basis hereunder upon which the Indemnified Party’s claim
for indemnification is asserted and describing such Damages, the amount thereof, if known, or a good faith estimate of the amount, and
the method of computation of such Damages, all with reasonable particularity, to the extent then known.

 

(b) Subject
to ‎Section 9.6(d), if the Indemnifying Party provides written notice to the
Indemnified Party stating that the Indemnifying Party is irrevocably and unconditionally liable and responsible for the entire Third Party
Claim and any cost or expense arising out of the investigation, contest or settlement thereof (in each case, subject to the applicable
limitations contained in this Agreement) within ten days after the Indemnifying Party’s receipt of written notice from the Indemnified
Party of such Third Party Claim, the Indemnifying Party shall have the right to conduct and control, through counsel of its choosing,
the defense, compromise and settlement of any Third Party Claim as to which indemnification is sought by any Indemnified Party from any
Indemnifying Party hereunder. In such event, the Indemnified Party may participate, through counsel chosen by it and at its own expense,
in the defense of any such Third Party Claim as to which the Indemnifying Party has so elected to conduct and control the defense thereof.
The Indemnified Party shall reasonably cooperate in connection with the defense, compromise or settlement of any Third Party Claim pursuant
to this ‎Section 9.6 and shall furnish such records, information and testimony and
attend such conferences, discovery proceedings, hearings, trials and appeals as may be reasonably requested by the Indemnifying Party
in connection therewith.

 

(c) The
Indemnifying Party shall give the Indemnified Party written notice of the Indemnifying Party’s intention to settle any Third Party
Claim at least ten days prior to the settlement of any such Third Party Claim. The Indemnifying Party shall not settle or compromise such
claim or demand without the prior written consent of the Indemnified Party, which shall not be unreasonably withheld, delayed or conditioned,
unless the Indemnified Party is given a full and complete release of any and all Liability by all relevant parties to such claim or demand,
there is no finding or admission of any violation of Law or any violation of the rights of any Person by any Indemnified Party and the
sole relief provided is monetary damages that are paid in full by the Indemnifying Party. The Indemnified Party shall have no liability
with respect to any compromise or settlement of any Third Party Claim effected without its consent when consent is required hereunder,
except where such consent is unreasonably delayed or conditions. Notwithstanding the foregoing to the contrary, the Indemnified Party
shall have the right to pay, settle or compromise any Third Party Claim for which the Indemnifying Party may have a liability under this
Agreement without the consent of the Indemnifying Party, provided that, in such event the Indemnified Party shall have no right
to indemnity therefor hereunder.

 

(d) Notwithstanding
anything in ‎Section 9.6(b) or ‎Section 9.6(c)
to the contrary, the Indemnified Party shall have the right to conduct and control, through counsel of its choosing at (which expenses
will be subject to indemnification hereunder), the defense, compromise and settlement of any Third Party Claim that (i) seeks an injunction
or other equitable relief against the Indemnified Party, (ii) relates to or arises in connection with any criminal matter, or (iii) in
Purchaser’s good faith determination, could reasonably be expected to have a material adverse effect on Purchaser, the Company or
their respective businesses. Additionally, the Indemnifying Party shall lose its right to contest, defend, litigate and settle the Third
Party Claim if it shall fail to accept a tender of the defense of the Third Party Claim or if it shall fail to diligently contest the
Third Party Claim. In such event, the Indemnified Party shall have the right to conduct and control, through counsel of its choosing,
the defense, compromise or settlement of any such Third Party Claim; provided that, at least thirty days prior to any such settlement,
written notice of its intention to settle is given to the Indemnifying Party and the Indemnified Party in good faith considers any objections
of the Indemnifying Party. In the event that the Indemnified Party exercises its right to conduct and control any Third Party Claim in
accordance with this ‎Section 9.6(d), the Indemnifying Party will remain subject
to its obligations hereunder. Notwithstanding anything to the contrary contained herein, to the extent required by the insurer under any
applicable policy of insurance in connection with any claim made by a Purchaser Indemnitee thereunder, the conduct of the defense or prosecution
of any Third Party Claim will be assigned to counsel selected or approved by such insurer, or otherwise conducted in coordination with
the insurer such policy, in each case without prejudice to the rights of the parties hereunder, and the Equityholders, the Equityholder
Representative and the Purchaser Indemnitees will reasonably cooperate with the insurer under any applicable policy of insurance and such
counsel in the defense of the Third Party Claim and otherwise comply with the requirements of such policy.

  

(e) Notwithstanding
any provision of this Section 9.7 to the contrary, any Third Party Claim relating to Taxes of the Company shall be governed by
the provisions of ‎Article X.

 

Section 9.7Obligations
to Mitigate Damages. Each Indemnified Party shall take, and shall cause all other Indemnified Parties to take, commercially reasonable
efforts to mitigate all Damages upon and after becoming aware of any event that could reasonably be expected to give rise to Damages.
In the event that an insurance or other recovery is made by any Indemnified Party with respect to any Damages for which any such Person
has been indemnified hereunder, then a refund equal to the aggregate amount of the recovery (net of costs and expenses actually incurred
in recovering such amounts) shall be made promptly to the Indemnifying Party.

 

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Section 9.8Adjustment
to Merger Consideration. All indemnification payments made pursuant to this ‎Article IX
shall be treated by the parties for all Tax purposes as an adjustment to the Merger Consideration unless otherwise required by Law.

 

Section 9.9Indemnification
Exclusive Remedy. Except for remedies that cannot be waived as a matter of Law and injunctive and provisional relief (including specific
performance), and except for the rights of the parties under ‎Section 2.12
(and without limitation of any such right), if the Closing occurs, indemnification pursuant to the provisions of this ‎Article IX
shall be the sole and exclusive remedy of the parties with respect to any matters arising under or relating to this Agreement, any Transaction
Document (other than the Key Employee Employment Agreements and the Voting Agreements) and any closing document executed and delivered
pursuant to the provisions hereof and the transactions contemplated by this Agreement and the Transaction Documents (other than the Key
Employee Employment Agreements and the Voting Agreements), and the only legal action that may be asserted by any party with respect to
any matter that is the subject of this ‎Article IX shall be a contract action
to enforce, or to recover damages for the breach of, this ‎Article IX. Notwithstanding
the foregoing, the limitations set forth in this ‎Section 9.9 shall not apply
to any claim arising out of or by virtue of willful misconduct or fraud of any party to this Agreement, or any person acting on their
behalf in connection with the transactions contemplated by this Agreement.

 

Section 9.10Holdback;
Setoff.

 

Purchaser shall have
the right to holdback any payment of the Earn-out Consideration until all of the outstanding claims, for which a Claim Notice has been
provided as of the date of the applicable payment of the Earn-out Consideration, are settled. In addition, Purchaser shall have the right
to set off from the Earn-out Consideration any and all Damages to the Purchaser Indemnitees that such Purchaser Indemnitees are entitled
to be indemnified for, or be held harmless with respect thereto, under the provisions of this Article IX.

 

Article X

Tax Matters

 

Section 10.1Preparation
and Filing of Tax Returns.

 

(a) Purchaser
shall prepare or cause to be prepared, at the Equityholders’ expense (to be funded by the Equityholder Representative out of the
Expense Fund on behalf of the Equityholders, to the extent available, and thereafter by the Equityholders directly), and timely file or
cause to be filed, all Tax Returns of the Company required to be filed after the Closing Date for any Pre-Closing Tax Period or any Straddle
Period. Purchaser shall permit Equityholder Representative to review and comment on each Tax Return described in the preceding sentence
that is either an Income Tax Return of which reflects any Tax liability in excess of the amount of such Taxes that is included in Closing
Indebtedness or Transaction Expenses (each as finally determined pursuant to ‎Section 2.12)
and for which the Equityholders are responsible, and shall incorporate Equityholder Representative’s reasonable comments into such
Tax Returns but only to the extent such comments could reasonably be expected to affect the indemnification obligations of the Equityholders
pursuant hereto. Except as otherwise required pursuant to applicable Law, or permitted with Equityholder Representative’s consent
(which consent shall not be unreasonably withheld, conditioned, or delayed), all Tax Returns prepared pursuant to this ‎Section 10.1
shall be prepared and filed in a manner consistent with past practices of the Company. Purchaser shall not amend or cause to be amended
any Tax Return of the Company for any Pre-Closing Tax Period or take any other action with respect to any such period that could reasonably
be expected to increase any indemnification obligations of the Equityholders hereunder, in each case, without the prior written consent
of the Equityholder Representative, which consent shall not be unreasonably withheld, conditioned, or delayed. The parties acknowledge
and agree that for U.S. federal Income Tax purposes, the taxable year of the Company will end at the end of the day on the Closing Date
and, to the extent applicable Tax Laws in other taxing jurisdictions so permit or require, the parties will elect to cause the taxable
year of the Company to terminate at the end of the day on the Closing Date.

 

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(b) All
Taxes payable with respect to Pre-Closing Tax Periods and the portion of the Straddle Period ending on the Closing Date, including the
Tax Returns prepared pursuant to ‎Section 10.1(a), shall be borne by the Equityholders
except to the extent and in such amount as such Taxes are included in Closing Indebtedness or Transaction Expenses (each as finally determined
pursuant to ‎Section 2.12), and the Equityholder Representative, on behalf
of the Equityholders, shall pay such Taxes to Purchaser no later than seven Business Days prior to the due date for filing such Tax Returns.
For purposes of this Agreement, the portion of Taxes allocable to the portion of a Straddle Period ending on the Closing Date shall (i)
in the case of property, ad valorem and other Taxes imposed on a periodic basis, be deemed to be the amount of such Taxes for the entire
Straddle Period multiplied by a fraction the numerator of which is the number of days in the Straddle Period ending on (and including)
the Closing Date and the denominator of which is the number of days in the entire Straddle Period, and (ii) in the case of any other Taxes,
be deemed equal to the amount that would be payable if the relevant Straddle Period ended as of (and included) the Closing Date pursuant
to an interim closing-of-the-books. Any credits relating to a Straddle Period shall be taken into account as though the relevant Tax period
ended at the end of the day on the Closing Date. All determinations necessary to give effect to the allocations described in this ‎Section 10.1(b)
shall be made in a manner consistent with the prior practice of the Company, except for changes required by Law.

 

Section 10.2Prohibited
Actions. Purchaser shall not, and shall cause its Affiliates not to, without the prior written consent of the Equityholder Representative
(which consent shall not be unreasonably withheld, conditioned or delayed) amend any Tax Return, make, change or revoke any Tax election,
file any Tax Return in a jurisdiction in which Tax Returns have not previously been filed by that entity, initiate or enter into any voluntary
disclosure agreement or similar agreements, extend any applicable statute of limitations or take any other similar action outside the
ordinary course of business, in each case with respect to the Company and relating to any Pre-Closing Tax Period or Straddle Period, to
the extent that doing so could increase the liability of the Company for Taxes under applicable Law for which the Equityholders would
be liable under this Agreement.

 

Section 10.3Control
of Audit or Tax Litigation. After the Closing Date, Purchaser shall control any Proceedings that relates to Taxes or Tax Returns of
the Company (each a “Tax Controversy”) with respect to a Pre-Closing Tax Period or Straddle Period, and shall have
the right to employ counsel and other advisors of its choice; provided that, with respect to any such Tax Controversy, (a)
Purchaser shall promptly notify the Equityholder Representative of any such Tax Controversy; provided that, Purchaser’s
failure or delay in notifying the Equityholder Representative of a Tax Controversy will not relieve Equityholders of any liability that
it may have to Purchaser under this Agreement, except to the extent that Equityholders are actually and materially prejudiced by such
failure or delay, (b) Purchaser shall allow the Equityholder Representative to participate in any such Tax Controversy at Equityholders’
expense, and (c) Purchaser shall not settle or otherwise resolve any such Tax Controversy to the extent such settlement or resolution
would actually and materially increase the indemnification obligations of the Equityholders pursuant to Section 9.3) unless Purchaser
obtains Equityholder Representative’s prior consent (which consent shall not be unreasonably withheld, delayed or conditioned).

 

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Section 10.4Cooperation.
Purchaser, the Company and the Equityholder Representative (on behalf of Equityholders and to the extent in its possession) shall cooperate,
as and to the extent reasonably requested by the other party (including the furnishing, upon request and as promptly as practical, such
information, including reasonable access to books and records) in connection with the preparation and filing of any Tax Return and any
Tax Controversy, and each shall execute and deliver such powers of attorney and other documents as are necessary to carry out the intent
of this ‎Section 10.4.

 

Section 10.5Transfer
Taxes. All sales, use, transfer, real property transfer, documentary, recording, gains, share transfer and similar Taxes and fees,
and any deficiency, interest or penalty asserted with respect thereto, arising out of or in connection with the transactions effected
pursuant to this Agreement (collectively, “Transfer Taxes”) shall be borne by Purchaser. Purchaser and the Equityholders
shall reasonably cooperate in timely making all filings, Tax Returns, reports and forms as may be required with respect to all such Transfer
Taxes. Purchaser and the Equityholders agree to use commercially reasonable efforts to obtain any certificate, including a resale certificate,
or other document from any Governmental Entity as may be necessary to mitigate, reduce, or eliminate any Transfer Taxes.

 

Section 10.6Tax
Refunds. Any Tax refunds (including any interest in respect thereof) that are actually recognized (in cash or as a credit reducing
Taxes that would otherwise be due) by Purchaser, the Surviving Corporation, or their respective Affiliates, with respect to Taxes of the
Company arising in a Pre-Closing Tax Period or the portion of a Straddle Period ending on the Closing Date, in each case, to the extent
such Taxes were paid by the Company and such Tax refunds were not taken into account as an increase to the Merger Consideration, shall
be for the benefit of the Equityholders, and Purchaser shall pay or cause to be paid over to the Paying Agent for further distribution
to the Equityholders any such Tax refunds within 20 days after Purchaser’s, the Surviving Corporation’s, or their respective
Affiliate’s actual receipt or entitlement thereof. Notwithstanding anything to the contrary herein, the amount of any payment Purchaser
makes or causes to be made pursuant to this ‎Section 10.6 shall be calculated
net of any reasonable costs (including Taxes) incurred by Purchaser, the Surviving Corporation, or their respective Affiliates, of obtaining,
distributing, or paying over the applicable Tax refund.

 

Section 10.7Tax
Sharing Agreements. All Tax Sharing Agreements, other than this Agreement, shall be terminated as of the Closing and, after
the Closing, neither Purchaser nor the Surviving Corporation shall have any liability under any such Tax Sharing Agreement.

 

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Section 10.8104H
Tax Ruling. The Company and the Equityholders (represented by the Equityholder Representative) shall prepare and file with the ITA,
no later than five (5) Business Days from the date of this Agreement, applications for rulings, which, among others, (i) are permitting
any Shareholders (other than with respect to their Company 102 Shares) who elect to become a party to such a tax ruling (each, an “Electing
Holder”), to defer any applicable Israeli Tax with respect to any consideration in Purchaser Share Consideration that such Electing
Holder will receive pursuant to this Agreement until the date set forth in Section 104H of the Ordinance (the “104H Tax
Ruling”; the 104H Tax Ruling may initially be issued by the ITA in the form of an interim pre-ruling, which shall be
referred hereto as the “104H Interim Tax Ruling”); and (ii) confirming, a as part of a “102 ruling”, that
the conversion of the Company Options into the assumed options to purchase Ordinary Shares of the Purchaser, and the conversion of Company
102 Shares into Ordinary Shares of the Purchaser, will not result in a requirement for an immediate Israeli tax payment, and that the
Israeli taxation will be deferred until the exercise of the options issued in exchange of the Company Options, or in the event of assumed
options which are Company 102 Options, until the earlier of: (x) the actual sale of the Ordinary Shares of Purchaser covered by the assumed
options, or the release of the assumed options and/or the Ordinary Shares of Purchaser covered by the assumed options from trust (the
“102 Tax Rulings”, and collectively with the 104H Tax Ruling and the 104H Interim Ruling, the “Israeli Income
Tax Rulings”). Purchaser shall cooperate with the Company, the Electing Holders and their Israeli counsel with respect to the
preparation and filing of such application and in the preparation of any written or oral submissions that may be necessary, proper or
advisable to obtain the Israeli Income Tax Rulings; provided that any costs associated with the application for the Israeli Income Tax
Rulings shall be paid by the Company or reduced as Transaction Expenses. Subject to the terms and conditions hereof, the Company and the
Equityholders shall use commercially reasonable efforts to promptly take, or cause to be taken, all action and to do, or cause to be done,
all things necessary, proper or advisable under applicable law to obtain the Israeli Income Tax Rulings, as promptly as practicable. For
the avoidance of doubt, the Company and the Electing Holders shall not make any application to the ITA with respect to any matter relating
to the Israeli Income Tax Rulings without first consulting with the Purchaser’s Israeli legal counsel, granting Purchaser’s
legal counsel the opportunity to review and comment on the draft application and obtaining the Purchaser’s approval for those Israeli
Income Tax Rulings, and the Company and the Electing Holders shall inform Purchaser’s counsel of the content of any material discussions
and meetings relating thereto.

 

Article XI

TERMINATION

 

Section 11.1General.
The parties shall have the rights and remedies with respect to the termination and/or enforcement of this Agreement that are set forth
in this ‎Article XI.

 

Section 11.2Right
to Terminate. This Agreement and the transactions contemplated by this Agreement may be terminated at any time prior to the Closing
by prompt notice given in accordance with ‎Section 14.3:

 

(a) by
the mutual written consent of Purchaser and the Company;

 

(b) by
either of such parties if the Closing shall not have occurred at or before 11:59 p.m., Israeli time, on December 31, 2021; provided
that the right to terminate this Agreement under this ‎Section 11.2(b) shall
not be available to any party whose failure to fulfill any of its obligations under this Agreement has been the principal cause of or
resulted in the failure of the Closing to occur on or prior to the aforesaid date;

 

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(c) by
Purchaser in the event of any material breach by the Company of any of its agreements, representations or warranties contained herein
such that the closing conditions set forth in ‎Section 8.2(a) or ‎Section 8.2(b),
as applicable, would not be satisfied, and the failure of the Company to cure such breach within thirty (30) days after receipt of notice
from Purchaser of such breach; provided, that, Purchaser is not then in breach of this Agreement so as to
cause a condition to the Closing set forth in either ‎Section 8.1(a) or ‎Section 8.1(b)
to not be satisfied as of the Closing;

 

(d) by
the Company in the event of any material breach by Purchaser or Merger Sub of any of Purchaser’s or Merger Sub’s agreements,
representations or warranties contained herein such that the closing conditions set forth in ‎Section 8.1(a)
or ‎Section 8.1(b), as applicable, would not be satisfied, and the failure
of Purchaser to cure such breach within 30 days after receipt of notice from Equityholder requesting such breach to be cured; provided,
that, the Company is not then in breach of this Agreement so as to cause a condition to the Closing set forth in either
‎Section 8.2(a) or ‎Section 8.2(b)
to not be satisfied as of the Closing; or

 

(e) by
Purchaser or the Company if there shall be in effect a final, non-appealable Order of a court of competent jurisdiction in effect precluding
consummation of the transactions contemplated by this Agreement; provided that, the right to terminate this Agreement under this
‎Section 11.2(e) shall not be available to any party whose failure to fulfill
any of its obligations under this Agreement has been the principal cause of or resulted in the Order; or

 

Section 11.3Remedies
Upon Termination. If this Agreement is terminated pursuant to ‎Section 11.2,
each of the parties to this Agreement shall be relieved of their respective duties and obligations under this Agreement to the extent
that such duties and obligations would otherwise arise after the date of such termination, except as set forth in ‎Section 11.4,
Section 11.5, ‎Section 14.1, ‎Section 14.2
or ‎Section 14.3, and no party to this Agreement shall have any claim against
any other party to this Agreement, unless the circumstances giving rise to the termination of this Agreement were caused by a party’s
willful misconduct or fraud or willful and intentional breach of a representation, warranty or covenant set forth in this Agreement (which,
for the avoidance of doubt, will be deemed to include any failure by Purchaser to consummate the transactions contemplated hereby if obligated
to do so under this Agreement), in which event termination of this Agreement shall not be deemed or construed as limiting or denying any
legal or equitable right or remedy of the non-breaching parties. If following the termination of this Agreement any Proceeding is commenced
by any party to pursue any legal or equitable right or remedy against any other party whose willful misconduct or fraud or willful and
intentional breach of a representation, warranty or covenant herein results in the termination of this Agreement, all fees, costs and
expenses, including reasonable attorneys’ fees and court costs, incurred by the prevailing party in such Proceeding shall be reimbursed
by the losing party; provided that, if a party to such Proceeding prevails in part, and loses in part, the court, arbitrator or
other adjudicator presiding over such Proceeding shall award a reimbursement of the fees, costs and expenses incurred by such party on
an equitable basis.

 

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Section 11.4Certain
Other Effects of Termination. In the event of the termination of this Agreement by either the Company or Purchaser as provided in
‎Section 11.2:

 

(a) each
party, if so requested by the other party, will comply with the provisions of Section 5 of the Confidentiality Agreement mutatis
mutandis with respect to all documents furnished to it by the other party (or any subsidiary, division, associate or Affiliate of
such other party) in connection with the transactions contemplated by this Agreement, whether so obtained before or after the execution
of this Agreement, and any copies thereof (except for copies of documents publicly available) that may have been made; and

 

(b) the
Confidentiality Agreement shall remain in full force and effect in accordance with ‎Section 6.1
and survive termination of this Agreement.

 

Article XII

EQUITYHOLDER REPRESENTATIVE

 

Section 12.1Appointment
of the Equityholder Representative. By virtue of approval of the Merger and this Agreement or other appointment authorization documentation,
including the Voting Agreements, or by accepting any consideration payable hereunder, each of the Equityholders shall be deemed to have
agreed to irrevocably appoint the Equityholder Representative as such Equityholder’s and the Equityholders’ attorney-in-fact
and exclusive agent in connection with the execution and performance of this Agreement as set forth in this Error! Reference source
not found. This power is irrevocable and coupled with an interest, and shall not be affected by the death, incapacity, illness,
dissolution or other inability to act of any Equityholder.

 

Section 12.2Authority
of the Equityholder Representative. Each Equityholder hereby irrevocably grants the Equityholder Representative full power and authority
to take such actions as it may deem necessary or appropriate in connection with, or to consummate, the transactions contemplated by this
Agreement, including:

 

(a) to
execute and deliver, on behalf of such Equityholder, and to accept delivery of, on behalf of such Equityholder, such documents as may
be deemed by the Equityholder Representative, in its sole discretion, to be appropriate to consummate this Agreement;

 

(b) to
endorse and to deliver on behalf of such Equityholder, certificates representing the Company Shares to be sold by such Equityholder (if
a Shareholder) at the Closing;

 

(c) to
(i) dispute or refrain from disputing, on behalf of such Equityholder, any claim made by Purchaser under this Agreement or any other Transaction
Document; (ii) negotiate and compromise, on behalf of such Equityholder, any dispute that may arise under, and to exercise or refrain
from exercising any remedies available under, this Agreement or any other Transaction Document; and (iii) execute, on behalf of such Equityholder,
any settlement agreement, release or other document with respect to such dispute or remedy;

 

(d) to
waive, on behalf of such Equityholder, any Closing condition contained in Article VIII of this Agreement and to give or agree
to, on behalf of such Equityholder, any and all consents, waivers, amendments or modifications, deemed by the Equityholder Representative,
in its sole discretion, to be necessary or appropriate, under this Agreement or any other Transaction Document, and, in each case, to
execute and deliver any documents that may be necessary or appropriate in connection therewith;

 

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(e) to
enforce, on behalf of such Equityholder, any claim against Purchaser arising under this Agreement;

 

(f) to
engage attorneys, accountants and agents at the expense of Equityholders, and to incur other out-of-pocket expenses related to the performance
of its services hereunder, and, as appropriate, to cause funds to be disbursed from the Expense Fund to fund such expenses;

 

(g) to
calculate the Pro Rata Share or Indemnifying Pro Rata Share of any Equityholder or Joining Equityholder at any time following the Effective
Time (and the Equityholder Representative shall prepare and provide such calculation to Purchaser within two Business Days of any request
by Purchaser, and Purchaser hall be entitled to conclusively rely on any such calculation for all purposes hereunder and under the Transaction
Documents);

 

(h) to
amend this Agreement (other than this ‎Section 12.2) or any Transaction Document
or any of the instruments to be delivered to Purchaser by such Equityholder pursuant to this Agreement; and

 

(i) to
do or refrain from doing any further act or deed on behalf of any Equityholder or the Equityholders which the Equityholder Representative
deems necessary or appropriate in its sole discretion relating to the subject matter of this Agreement or the other Transaction Documents.

 

Notwithstanding the foregoing,
the Equityholder Representative shall have no obligation to act on behalf of the Equityholders, except as expressly provided herein, in
the Escrow and Paying Agent Agreement and for purposes of clarity, there are no obligations of the Equityholder Representative in any
ancillary agreement, schedule, exhibit or the Disclosure Schedules. The Equityholder Representative shall be entitled to: (i) rely upon
the Payout Spreadsheet, (ii) rely upon any signature believed by it to be genuine, and (iii) reasonably assume that a signatory has proper
authorization to sign on behalf of the applicable Equityholder or other party.

 

Notwithstanding anything herein
to the contrary, the Equityholder Representative shall not be entitled to, and shall not, take any action that would or would be reasonably
expected to (A) cause any Equityholder’s liability hereunder to exceed its respective portion of the Purchaser Share Consideration
due to the Equityholder, (B) result in the Purchaser Share Consideration due to any Equityholder being distributed in any manner other
than as set forth in this Agreement the Escrow and Paying Agent Agreement, or (C) result in an increase of any Equityholder’s indemnity
or other obligations or liabilities under this Agreement (including, for the avoidance of doubt, any change to the nature of the indemnity
obligations), without (in each case) such Equitholders’ prior written consent.

 

Section 12.3Reliance.
Each Equityholder hereby agrees to the following:

 

(a) In
all matters in which action by the Equityholder Representative is required or permitted, the Equityholder Representative is authorized
to act on behalf of such Equityholder, notwithstanding any dispute or disagreement among the Equityholders or between any Equityholder
and the Equityholder Representative, and Purchaser shall be entitled to rely on any and all action taken by the Equityholder Representative
under this Agreement without any liability to, or obligation to inquire of, any Equityholder, notwithstanding any knowledge on the part
of Purchaser of any such dispute or disagreement.

 

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(b) All
actions taken by the Equityholder Representative under this Agreement or the Escrow and Paying Agent Agreement shall be binding upon each
Equityholder and such Equityholder’s successors as if expressly confirmed and ratified in writing by such Equityholder, and all
defenses which may be available to any Equityholder to contest, negate or disaffirm the action of the Equityholder Representative taken
in good faith under this Agreement or the Escrow and Paying Agent Agreement are waived.

 

(c) Notice
to the Equityholder Representative, delivered in the manner provided in ‎Section 14.3,
shall be deemed to be notice to any Equityholder and all Equityholders for purposes of this Agreement.

 

(d) The
power and authority of the Equityholder Representative, as described in this Agreement: (i) are coupled with an interest and shall be
irrevocable and survive the death, incompetence, bankruptcy or liquidation of any Equityholder and shall be binding on any successor thereto,
(ii) shall continue in force until all rights and obligations of Equityholders under this Agreement shall have terminated, expired or
been fully performed, and (iii) shall survive the delivery of an assignment by any Equityholder of the whole or any fraction of his, her
or its interest in the Indemnity Escrow Amount.

 

(e) The
Equityholder Representative may resign at any time and a majority-in-interest of Equityholders (based on their respective Pro Rata Shares)
shall have the right, exercisable from time to time upon written notice delivered to the Equityholder Representative and Purchaser, to
remove the Equityholder Representative, with or without cause, and to appoint an Equityholder (or, in the case of an Equityholder that
is a corporation, partnership, limited liability company or trust, an officer, manager, employee or partner of such Equityholder) to fill
a vacancy caused by the death, resignation or removal of the Equityholder Representative. The immunities and rights to indemnification
shall survive the resignation or removal of the Equityholder Representative and the Closing and/or any termination of this Agreement and
the Escrow and Paying Agent Agreement.

 

(f)
If the Equityholder Representative resigns or is removed or otherwise ceases to function in his capacity as such for any reason whatsoever,
and no successor is appointed pursuant ‎Section 12.2(e) within 30 days, then
Purchaser shall have the right to appoint a reputable service provider as an Equityholder to act as the Equityholder Representative to
serve as described in this Agreement. The cost of such service provider will be borne by the Equityholders.

 

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Section 12.4Indemnification
of the Equityholder Representative. Each Equityholder shall severally, but not jointly, indemnify the Equityholder Representative
and defend and hold the Equityholder Representative harmless against any Damages (except such Damages resulting from the Equityholder
Representative’s fraud or willful misconduct) that the Equityholder Representative may suffer or incur in connection with any action
or omission of the Equityholder Representative. Each Equityholder shall bear its Indemnifying Pro Rata Share of such Damages. Such Damages
may be recovered first, from the Expense Fund, second, from any distribution of the Indemnity Escrow Amount otherwise distributable to
the Equityholders at the time of distribution, and third, directly from the Equityholders. The Equityholder Representative shall not be
liable to any Equityholder with respect to any action or omission taken or omitted to be taken by the Equityholder Representative pursuant
to this Article XII, except for the Equityholder Representative’s fraud or willful misconduct. The Equityholders acknowledge
that, as between the Equityholders and the Equityholder Representative, the Equityholder Representative shall not be required to expend
or risk its own funds or otherwise incur any financial liability in the exercise or performance of any of its powers, rights, duties or
privileges or pursuant to this Agreement, the Escrow and Paying Agent Agreement or the transactions contemplated hereby or thereby. Furthermore,
the Equityholder Representative shall not be required to take any action unless the Equityholder Representative has been provided with
funds, security or indemnities which, in its determination, are sufficient to protect the Equityholder Representative against the costs,
expenses and liabilities which may be incurred by the Equityholder Representative in performing such actions. The Equityholders shall
be responsible for ensuring that the Equityholder Representative can comply with Equityholder Representative’s obligations under
this Agreement.

 

Section 12.5Expense
Fund. In accordance with ‎Section 2.7(c) on the Closing Date, Company
shall wire cash to the account of the Equityholder Representative in the amount of [$100,000] (the “Expense Fund Amount”).
The Expense Fund Amount shall be held by the Equityholder Representative as agent and for the benefit of the Equityholders in a segregated
client account and shall be used for the purposes of paying directly or reimbursing the Equityholder Representative for any expenses or
Damages of the Equityholder Representative incurred pursuant to this Agreement, the Escrow and Paying Agent Agreement or the Equityholder
Representative Engagement Agreement (the “Expense Fund”). The Equityholder Representative is not providing any investment
supervision, recommendations or advice and shall have no responsibility or liability for any loss of principal of the Expense Fund other
than as a result of its fraud or willful misconduct. The Equityholder Representative is not acting as a withholding agent or in any similar
capacity in connection with the Expense Fund, and has no tax reporting or income distribution obligations hereunder. The Equityholders
will not receive any interest on the Expense Fund and assign to the Equityholder Representative any such interest. The Equityholder Representative
may contribute funds to the Expense Fund from any consideration otherwise distributable to the Equityholders. As soon as reasonably determined
by the Equityholder Representative that the Expense Fund is no longer required to be withheld, and in any event not later than the date
on which all funds are released from the Indemnity Escrow Account, the Equityholder Representative shall distribute the then remaining
amount of the Expense Fund, if any, to the Paying Agent and the Surviving Corporation, as applicable, for further distribution to the
Equityholders based on their respective Indemnifying Pro Rata Shares in accordance with the same procedure set forth in ‎Section 2.4
for the payment to the Equityholders of amounts remaining in the Indemnity Escrow Account.

 

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Article XIII

ADDITIONAL COVENANTS

 

Section 13.1Limitation
on Warranties; No Reliance. EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES EXPRESSLY SET FORTH IN THIS AGREEMENT AND THE OTHER TRANSACTION
DOCUMENTS (WHICH, FOR THE AVOIDANCE OF DOUBT, ARE QUALIFIED BY THE DISCLOSURE SCHEDULE AND PURCHASER DISCLOSURE SCHEDULE), NONE OF THE
COMPANY, THE EQUITYHOLDERS OR THE EQUITYHOLDER REPRESENTATIVE IS MAKING OR WILL BE DEEMED TO HAVE MADE ANY OTHER REPRESENTATIONS OR WARRANTIES,
WRITTEN OR ORAL, COMMON LAW OR STATUTORY, EXPRESS OR IMPLIED (INCLUDING WITH RESPECT TO NON-INFRINGEMENT, MERCHANTABILITY OR SUITABILITY
OR FITNESS FOR ANY PARTICULAR PURPOSE), AS TO THE ACCURACY OR COMPLETENESS OF, OR THE DISTRIBUTION TO, OR USE BY, PURCHASER OF, ANY ADVICE,
DOCUMENT, OR OTHER INFORMATION REGARDING THE COMPANY SHARES, THE COMPANY OR THE BUSINESS, FINANCIAL CONDITION OR ASSETS (INCLUDING THE
CONDITION, VALUE, QUALITY OR SUITABILITY OF ANY ASSETS) OR LIABILITIES OF THE COMPANY, INCLUDING FORWARD-LOOKING STATEMENTS (ANY OF THE
FOREGOING, AN “EXTRA-CONTRACTUAL STATEMENT”). PURCHASER REPRESENTS, WARRANTS, AND ACKNOWLEDGES THAT, EXCEPT AS EXPRESSLY
PROVIDED IN THIS AGREEMENT OR ANY OF THE OTHER TRANSACTION DOCUMENTS, NONE OF THE COMPANY, ANY EQUITYHOLDER, OR THE EQUITYHOLDER REPRESENTATIVE,
OR ANY AGENT OR OTHER PERSON ACTING ON ANY OF THEIR BEHALVES HAS MADE, AND EACH OF THEM HEREBY EXPRESSLY DISCLAIM AND NEGATE, AND EACH
OF PURCHASER AND ITS AFFILIATES IS NOT RELYING ON, ANY EXTRA-CONTRACTUAL STATEMENT (INCLUDING ANY EXPRESS OR IMPLIED WARRANTY RELATING
TO THE COMPANY SHARES OR ANY ASSET (TANGIBLE, INTANGIBLE OR MIXED), INCLUDING IMPLIED WARRANTIES OF FITNESS, NON-INFRINGEMENT, MERCHANTABILITY
OR SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE). Notwithstanding anything to the contrary set forth herein, the foregoing representations
and agreements of Purchaser in this ‎Section 13.1 assume the absence of willful
misconduct or fraud on the part of the Company, the Equityholders and their respective directors, managers, officers, affiliates, representatives
or advisors or any other Person in connection with the making of the representations, warranties or covenants under this Agreement, and
Purchaser is relying upon such absence of such willful misconduct or fraud.

 

Section 13.2Specific
Reliance. The parties have specifically relied upon this Article XIII, together with the provisions of ‎Section 14.4,
in agreeing to the Merger Consideration and in agreeing to provide the specific representations and warranties set forth herein.

 

Section 13.3Company
Shareholders Meeting. As soon as reasonably practicable following the date of this Agreement, but in no event later than the seventh
Business Day after the date hereof, the Company shall send a notice to convene a shareholder meeting of its shareholders to approve this
Agreement and the Merger in accordance with its Charter and the ICL to be held no later than 7 calendar days following the notice. No
later than three (3) days after the date of such approval, Merger Sub shall (in accordance with Section 317(b) of the ICL and the regulations
thereunder) inform the Companies Registrar of such approval.

 

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Section 13.4Merger
Proposal; Certificate of Merger.

 

(a) Subject
to the ICL and the regulations promulgated thereunder, as promptly as practicable following the date hereof the Company and Merger Sub,
as applicable, shall take the following actions within the timeframes set forth herein; provided, however, that any such
actions or the timeframe for taking such action shall be subject to any amendment in the applicable provisions of the ICL and the regulations
promulgated thereunder (and in case of an amendment thereto, such amendment shall automatically apply so as to amend this Section accordingly):
(a) cause a merger proposal (in the Hebrew language) in the form of Exhibit B (the “Merger Proposal”) to be
executed in accordance with Section 316 of the ICL, (b) deliver the Merger Proposal to the Companies Registrar within three (3) days from
the calling of the shareholders meeting, (c) the Company shall cause a copy of the Merger Proposal to be delivered to its secured creditors,
if any, no later than three (3) days after the date on which the Merger Proposal is delivered to the Companies Registrar, (d) promptly
after the Company shall have complied with the preceding sentence and with clauses (i) and (ii) of this ‎Section,
but in any event no more than three (3) days following the date on which such notice was sent to the creditors, the Company and Merger
Sub shall inform the Companies Registrar, in accordance with Section 317(b) of the ICL, that notice was given to their respective creditors,
if any, under Section 318 of the ICL (and regulations promulgated thereunder), (e) each of the Company and, if applicable, Merger Sub,
shall: (i) publish a notice to its creditors, stating that a Merger Proposal was submitted to the Companies Registrar and that the creditors
may review the Merger Proposal at the office of the Companies Registrar, Company’s registered office or Merger Sub’s registered
offices, as applicable, and at such other locations as the Company or Merger Sub, as applicable, may determine, in (A) two daily Hebrew
newspapers, on the day that the Merger Proposal is submitted to the Companies Registrar, (B) solely to the extent that the Company has
any “Substantial Creditors” (as such term is defined in the regulations promulgated under the ICL) outside of Israel, in a
popular newspaper in such applicable jurisdictions, as may be required by applicable Law; (ii) within four (4) business days from the
date of submitting the Merger Proposal to the Companies Registrar, send a notice by registered mail to all of the Substantial Creditors
that the Company or Merger Sub, as applicable, is aware of, in which it shall state that a Merger Proposal was submitted to the Companies
Registrar and that the creditors may review the Merger Proposal at such additional locations, if such locations were determined in the
notice referred to in the immediately preceding clause (i); and (iii) send to the Company’s “employees committee” (Va’ad
Ovdim) or display in a prominent place at the Company’s premises a copy of the notice published in a daily Hebrew newspaper (as
referred to in clause (i)(A) of this Section, no later than three (3) business days following the day on which the Merger Proposal was
submitted to the Companies Registrar, (f) not later than three (3) days after the date on which the approval of the Company Shareholders
Meeting shareholders (to include the Requisite Supporting Shareholders) is received (the “Company Shareholder Approval”),
the Company shall (in accordance with Section 317(b) of ICL and the regulations thereunder) inform the Companies Registrar of such approval,
and (g) in accordance with the customary practice of the Companies Registrar, the Company and Merger Sub shall request, following coordination
with Merger Sub, that the Companies Registrar declare the Merger effective and issue the Certificate of Merger upon such date as the Company
and Merger Sub shall advise the Companies Registrar. For the avoidance of doubt, and notwithstanding any provision of this Agreement to
the contrary, it is the intention of the parties that the Merger shall be declared effective and the Certificate of Merger shall be issued
on the Closing Date, as a condition to the Closing taking place. For purposes of this ‎Section,
“business day” shall have the meaning set forth in the Merger Regulations 5760-2000 promulgated under the ICL.

 

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(b) Immediately
following the approval of this Agreement and the Merger by the Requisite Supporting Shareholders (it being agreed that the execution by
the Requisite Supporting Shareholders of the Voting Agreement shall be deemed as approval of the Merger by the Requisite Supporting Shareholders),
the sole shareholder of Merger Sub shall approve the Merger subject to the satisfaction or waiver (to the extent permitted hereunder)
of all the conditions to Closing (other than those that by their nature may only be satisfied or waived at Closing). No later than three
(3) days after the date of such approval, Merger Sub shall (in accordance with Section 317(b) of the ICL and the regulations thereunder)
inform the Companies Registrar of such approval.

  

Section 13.5Tax
Rulings.

 

(a) As
soon as practicable following the date of this Agreement but in no event later than five (5) days after the date hereof, the Company shall
instruct its Israeli counsel, advisors and accountants to prepare and file with the ITA an application for a ruling (which shall be confirmed
by Purchaser prior to its submission), or alternatively provide evidence that no withholding will be required with regard to the issuance
of the Merger Consideration to the Paying Agent, to the reasonable satisfaction of the Purchaser, that (A) exempts the applicable Payor
and its respective agents from any obligation to withhold Israeli Tax at the source from any consideration payable or otherwise deliverable
pursuant to this Agreement, including the Merger Consideration, or clarifying that no such obligation exists, or (B) clearly instructs
the applicable Payor and its respective agents on how such withholding at the source is to be executed, and in particular, with respect
to the classes or categories of holders of the Company Shares or Company Options from which Tax is to be withheld (if any) and the rate
or rates of withholding to be applied (the “Withholding Tax Ruling”).

 

(b) Each
of the Company and Purchaser shall cause their respective Israeli counsel, advisors and accountants to coordinate all activities, and
to cooperate with each other, with respect to the preparation and filing of such application and in the preparation of any written or
oral submissions that may be necessary, proper or advisable to obtain the Withholding Tax Ruling. The final text of the Withholding Tax
Ruling shall be subject to the prior written confirmation of Purchaser and its counsel and tax advisors, which consent shall not be unreasonably
withheld, conditioned or delayed. The Company and its Representatives shall not make any application to, or conduct any negotiation with,
the ITA with respect to matters relating to the Withholding Tax Ruling without prior coordination with Purchaser or its Representatives,
and will coordinate with Purchaser’s Representatives their participation in all discussions and meetings with the ITA relating thereto.
Furthermore, the Company shall keep Purchaser and its agents and representatives informed, on a prompt basis (and, in any event, within
24 hours) of its receipt of any notice or information in connection with any of the above rulings or approvals. To the extent that the
Purchaser’s Representatives elect not to participate in any such meeting or discussion, the Company’s Representatives shall
promptly thereafter provide the Purchaser’s Representatives a report of the discussions and/or meetings held with the ITA. Subject
to the terms and conditions hereof, the Company shall use commercially reasonable efforts to promptly take, or cause to be taken, all
action and to do, or cause to be done, all things necessary, proper or advisable under applicable Laws to obtain the Withholding Tax Ruling,
as promptly as practicable.

 

Article XIV

MISCELLANEOUS

 

Section 14.1Transaction
Expenses. Except as otherwise provided in this Agreement, each party shall bear all fees and expenses incurred by such party in connection
with, relating to or arising out of the negotiation, preparation, execution, delivery or performance of this Agreement or the consummation
of the transactions contemplated by this Agreement or any other Transaction Document, including financial advisors’, attorneys’,
accountants’ and other professional fees and expenses in connection with the transactions contemplated by this Agreement or any
other Transaction Document.

  

Section 14.2Publicity.
Up until the Closing, press releases and other publicity concerning the transactions contemplated by this Agreement shall be made only
with the prior written agreement of the Company and Purchaser, unless the Purchaser determines, in its reasonable discretion after consultation
with outside legal counsel, that it is required (or may be deemed required) by applicable Law or share exchange or listing rules to issue
or cause the publication of any press release or any public announcement with respect to the transactions contemplated by this Agreement,
in which event Purchaser shall make reasonable endeavors to provide an opportunity, subject to the limitations of the applicable Law and
the said rule, to the Company to review and comment upon such press release or public announcement in advance. Following the Closing,
(i) except as otherwise required by Law or applicable share exchange rules, no press releases or other publicity shall state the amount
of the Merger Consideration and (ii) neither the Equityholder Representative nor any Equityholder shall make any press release or public
announcement concerning the transactions contemplated by this Agreement without the prior written agreement of Purchaser, except to the
extent that any such release or announcement contains only statements that are consistent with previous statements made jointly or with
the approval with Purchaser.

 

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Section 14.3Notices.
All notices required or permitted to be given hereunder shall be in writing and may be delivered by hand, by email in .pdf format or similar
format, by nationally recognized private courier, or by registered mail; provided that, with respect to notices delivered to the
Equityholder Representative, such notices must be delivered solely via via email. Notices delivered by mail shall be deemed given three
Business Days after being deposited in the mail, postage prepaid, registered or certified mail, return receipt requested. Notices delivered
by hand shall be deemed delivered when actually delivered. Notices given by nationally recognized private courier shall be deemed delivered
on the date delivery is promised by the courier. Notices given by email shall be deemed given on the first Business Day following receipt.
All notices shall be addressed as follows:

 

If to the Company (before the Closing)
or the Equityholder Representative:

Zebra Medical Vision Ltd.

Attn: Zohar Elhanani

 

Email: zohar@zebra-med.com

 

[EQUITYHOLDER REPRESENTATIVE]

[ADDRESS]

Attn: Amit Perry

Email: amit@perryllion.com

  

with a copy (which will not constitute
notice) to:
 

Horn & Co. Law Offices

Investments Tower, Weizmann St. 2,

Floor 24, Tel Aviv 6423902 , Israel

Attn.: Yuval Horn

E-mail: yhorn@hornlaw.co.il

  

If to any of the Company (following the Closing),
Purchaser, to each of:

 

Nano-X Imaging Ltd

Communications Centre,

Neve Ilan, Israel 9085000

Attention: Ran Poliakine, CEO

E-mail: ran.p@nanox.vision

  

with a copy (which will not constitute
notice) to:

 

Amit, Pollak, Matalon & Co.

APM House

18 Raoul Wallenberg St., 6th Floor

Tel Aviv 6971915, Israel

Facsimile: +972-3-5689001

E-mail: ianr@apm.law and sbr@apm.law

Attention: Ian Rostowsky, Adv. and Stephen
Rozen, Adv.

 

and/or to such other respective addresses and/or
addressees as may be designated by notice given in accordance with the provisions of this ‎Section 14.3.

 

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Section 14.4 Entire
Agreement. This Agreement and the other Transaction Documents constitute the entire agreement between the parties respecting the transactions
contemplated hereby and thereby and supersede all prior or contemporaneous written agreements, arrangements, communications and understandings
and all prior and contemporaneous oral agreements, arrangements, communications and understandings among the parties with respect to the
transactions contemplated hereby or thereby, including any data room materials, bid letters, term sheets, summaries, issues lists or other
agreements or information. Each exhibit, schedule and the Disclosure Schedule shall be considered incorporated into this Agreement. Any
amendments, or alternative or supplementary provisions, to this Agreement, must be made in writing and duly executed by an authorized
representative or agent of each of the parties.

 

Section 14.5 Non-Waiver.
The failure in any one or more instances of a party to insist upon performance of any of the terms, covenants or conditions of this Agreement
or to exercise any right or privilege in this Agreement conferred, or the waiver by such party of any breach of any of the terms, covenants
or conditions of this Agreement, shall not be construed as a subsequent waiver of any such terms, covenants, conditions, rights or privileges,
but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. No waiver shall be effective
unless it is in writing and signed by an authorized representative of the waiving party.

 

Section 14.6 Counterparts.
This Agreement may be executed and delivered by each party in separate counterparts, each of which when so executed and delivered shall
be deemed an original and all of which taken together shall constitute one and the same Agreement.

 

Section 14.7 Delivery
by Electronic Transmission. This Agreement and any other Transaction Document, and any amendments hereto or thereto, to the extent
signed and delivered by means of a facsimile machine or other electronic transmission, shall be treated in all manner and respects as
an original contract and shall be considered to have the same binding legal effects as if it were the original signed version thereof
delivered in person. No party hereto or to any such contract shall raise the use of a facsimile machine or other electronic transmission
to deliver a signature or the fact that any signature or contract was transmitted or communicated through the use of facsimile machine
or other electronic transmission as a defense to the formation of a contract and each such party forever waives any such defense.

 

Section 14.8 Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
Law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable Law or
rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or any other jurisdiction,
and, for purposes of such jurisdiction, such provision or portion thereof shall be struck from the remainder of this Agreement, which
shall remain in full force and effect. This Agreement shall be reformed, construed and enforced in such jurisdiction so as to best give
effect to the intent of the parties under this Agreement.

 

Section 14.9 Applicable
Law. This Agreement and any controversy related to or arising, directly or indirectly, out of, caused by or resulting from this Agreement
shall be governed and controlled as to validity, enforcement, interpretation, construction, effect and in all other respects by the internal
Laws of the State of Israel applicable to contracts made in that state, without giving effect to any choice of law or conflict of law
provision or rule that would cause the application of the Laws of any jurisdiction other than the State of Israel.

 

Section 14.10 Binding
Effect; Benefit. This Agreement shall inure to the benefit of and be binding upon the parties, and their successors and permitted
assigns. Nothing in this Agreement, express or implied, shall confer on any Person other than the parties, and their respective successors
and permitted assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement, including third-party beneficiary
rights.

 

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Section 14.11 Assignment.
This Agreement shall not be assigned by the Company or the Equityholder Representative without the prior written consent of Purchaser.
This Agreement shall not be assigned by Purchaser or Merger Sub without the prior written consent of the Company; provided that,
either Purchaser or Merger Sub may assign the Agreement to a Controlled Affiliate of Purchaser.

 

Section 14.12 Amendments.
This Agreement shall not be modified or amended except pursuant to an instrument in writing executed and delivered on behalf of each of
the parties.

 

Section 14.13 Consent
to Jurisdiction. any Proceeding relating to this Agreement or the enforcement of any provision of this Agreement (including a Proceeding
based upon fraud or intentional misrepresentation) shall be brought or otherwise commenced exclusively in any court located in the district
of Tel Aviv, Israel. Each party to this Agreement and each Equityholder: (i) expressly and irrevocably consents and submits to the
jurisdiction of each court located in the district of Tel Aviv, Israel in connection with any such Proceeding; (ii) agrees that each
court located in the district of Tel Aviv, Israel shall be deemed to be a convenient forum; and (iii) agrees not to assert (by way
of motion, as a defense or otherwise), in any such Proceeding commenced in any court located in the district of Tel Aviv, Israel, any
claim that such party is not subject personally to the jurisdiction of such court, that such Proceeding has been brought in an inconvenient
forum, that the venue of such proceeding is improper or that this Agreement or the subject matter of this Agreement may not be enforced
in or by such court.

 

Section 14.14 Specific
Performance. The parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance
with the terms hereof or were otherwise breached, including each party’s right to consummate the transactions contemplated by this
Agreement. Accordingly, each of the parties agrees that the parties shall be entitled to specific performance of the terms hereof, including
an injunction or injunctions to prevent breaches of this Agreement and to otherwise enforce specifically the terms and provisions hereof
(including for specific performance of any transaction contemplated by this Agreement or any other Transaction Document) in any court
of competent jurisdiction, this being in addition to any other remedy to which such party is entitled at law or in equity.

 

Section 14.15 Conflicts
Regarding Representation. Each of the parties acknowledges that (i) Amit, Pollak, Matalon & Co (“APM”)
currently serves as counsel to the Purchaser, including in connection with the negotiation, preparation, execution and delivery of
this Agreement and the transactions contemplated thereby (the “Acquisition Engagement”), and in connection with
this Agreement and the transactions contemplated hereby, APM has not acted as counsel for any other Person. Only the Purchaser
shall be considered a client of APM in the Acquisition Engagement; and (ii) Horn & Co. (“Horn”) currently serves as
counsel to the Company, including in connection with the Acquisition Engagement, and in connection with this Agreement and the
transactions contemplated hereby, Horn has not acted as counsel for any other Person. Only the Company shall be considered a client
of Horn in the Acquisition Engagement.

 

Each of the Equityholders
and the Company (prior to the Closing), on behalf of itself and its Affiliates (including, after the Closing, the Company) agrees, solely
with respect to any claim for indemnification made by or on behalf of any of them, not to invoke any attendant attorney-client privilege,
attorney work product protection or expectation of client confidentiality applicable to confidential communications between the Equityholder
Representative and the Company on the one hand, and APM, on the other hand, in the course of the Acquisition Engagement. 

 

Each of the parties to this
Agreement consents to the arrangements in this ‎Section 14.15and waives any actual or potential
conflict of interest that may be involved in connection with APM’s representation in the Acquisition Engagement.

 

Section 14.16 Governmental
Reporting. Anything to the contrary in this Agreement notwithstanding, nothing in this Agreement shall be construed to mean that a
party hereto or other Person must make or file, or cooperate in the making or filing of, any return or report to any governmental authority
in any manner that such Person or such party reasonably believes or reasonably is advised is not in accordance with law.

 

Section 14.17 Headings.
The headings contained in this Agreement are for convenience of reference only and shall not affect the meaning or interpretation of this
Agreement.

 

[Signature Pages Follow]

 

    69

     

    

 

The parties have executed
this Agreement and Plan of Merger as of the date indicated in the first sentence of this Agreement.

 

	 	PURCHASER:
	 	 
	 	NANO-X IMAGING LTD
	 	 
	 	By:	/s/ Ran Poliakine
	 	Name:	Ran Poliakine
	 	Its:	Chief Executive Officer
	 	 
	 	MERGER SUB:
	 	 
	 	NEW ZEALAND MERGER SUB LTD.
	 	 
	 	By:	 /s/ Ran Poliakine
	 	Name:	Ran Poliakine
	 	Its:	Chief Executive Officer
	 	 
	 	THE COMPANY:
	 	 
	 	ZEBRA MEDICAL VISION LTD.
	 	 
	 	By:	/s/ Zohar Elhanani
	 	Name: 	Zohar Elhanani            
	 	Its:	Chief Executive Officer
	 	 
	 	EQUITYHOLDER REPRESENTATIVE:
	 	 
	 	PERRRYLLION LTD.
	 	 
	 	By:	/s/ Amit Perry
	 	Name:	 Amit Perry
	 	Its:	 Chief Executive Officer

 

[Signature Page - Agreement and Plan of Merger]

 

     

     

    

 

ANNEX A

 

Defined Terms

 

“Accredited Investor”
means a person that qualifies as an “accredited investor” as defined in the Securities Act of 1933, as amended.

 

“Affiliate”
with respect to any Person means any other Person who directly or indirectly Controls, is Controlled by or is under common Control with
such Person, including, in the case of any Person who is an individual, his or her spouse, domestic partner any of his or her descendants
(lineal or adopted) or ancestors and any of their spouses or domestic partners.

 

“Benefit Plan”
means any retirement, pension, profit sharing, deferred compensation, savings, bonus, incentive, cafeteria, medical, dental, vision, hospitalization,
life insurance, accidental death and dismemberment, medical expense reimbursement, dependent care assistance, tuition reimbursement, disability,
sick pay, paid time off, leave, holiday, vacation, employment, individual consulting, retention, severance, change of control, equity
purchase, equity option, restricted equity, phantom equity, equity appreciation rights, fringe benefit or other employee benefit plan,
program, agreement, or arrangement (including any “employee benefit plan,” as defined in Section 3(3) of ERISA) (a) sponsored,
maintained, contributed to, or required to be contributed to by the Company for the benefit of any current or former employee of the Company,
or (b) with respect to which the Company has, or would reasonably be expected to have, any liability, provided that, the term “Benefit
Plan” shall not include any plan, program or arrangement maintained or mandated by a Governmental Entity.

 

“Business Day”
means each day that is not a Saturday, Sunday or other day on which banking institutions located in Tel Aviv, Israel or in the State of
Michigan are authorized or obligated by law or executive order to close.

 

“Cash”
means (a) all cash on hand in the Company’s bank, lock box and other accounts (including cash resulting from the clearance of checks
deposited with the Company prior to the Closing Date, whether or not such clearance occurs before, on or after the Closing Date), plus
(b) the amount of all marketable securities owned by the Company, determined in accordance with US GAAP, in each case as of immediately
prior to the Closing, but in all events excluding any cash or cash equivalents of the Company that are not freely usable by Purchaser,
the Company or the Surviving Corporation because they are subject to restrictions, limitations on use or distribution by Law, Contract
or otherwise, including cash held outside the United States, cash held in escrow or as a security deposit or cash representing the amount
of any outstanding checks or wire transfer.

 

“Cause”
means any one of the following: (a) embezzlement; (b) theft; (c) criminal offence; (d) act involving moral turpitude; (e) breach of confidentiality
and/or non-competition undertakings contained in one’s respective employment agreement with the Company and/or in any of the annexes
or schedules thereto; (f) severe disciplinary breach; (g) breach of one’s fiduciary duties; (h) any other material breach by an
employee of the terms of his/her respective engagement agreement with the Company; or (i) any other act/or omission which under applicable
law enables severance payments or prior notice redemption to be entirely or partially denied by an employer.

 

“Code” means the
Internal Revenue Code of 1986, as amended.

 

“Company”
is defined in the Preamble.

 

“Company 102 Options”
means Company Options subject to Section 102 of the Ordinance.

 

“Company 102 Shares”
means Company Shares issued upon exercise of Company 102 Options.

 

“Company Charter”
means the Third Amended and Restated Articles of Association of the Company, dated May 30, 2018 (as amended).

 

    A-1

     

    

 

“Company Incentive
Plan” means the Company Share Ownership and Option Plan (2014).

 

“Company Options”
means options to purchase Ordinary Shares pursuant to the Company Incentive Plan.

 

“Company Service
Provider” means any current or former employee, worker, independent contractor, consultant, advisor, officer or director of
the Company or any Affiliate of the Company.

 

“Company Shares”
means Ordinary Shares of the Company, Preferred A Shares, Preferred B Shares and Preferred C Shares, as applicable.

 

“Company Warrants”
means warrants convertible into Company Shares.

 

“Company Outstanding
Instruments” means together the outstanding Convertible Promissory Notes under the Note Purchase Agreement dated June 19, 2020
led by TELUS Corporation and the 3. SAFE (Simple Agreement for Future Equity) with aMoon 2 Fund Limited Partnership, dated August 17,
2020 (the “Company Convertible Instruments”).

 

“Contract”
means any binding contract (written or oral), agreement, arrangement, commitment, understanding, purchase order, lease, license, or other
legally binding agreement, and including all amendments thereto.

 

“Control”
means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person,
whether through ownership of securities, by contract or otherwise.

 

“Damages”
means all assessments, levies, losses, damages, Liabilities, fines and penalties, whether or not arising out of Third Party Claims or
other Proceedings (including reasonable attorneys’ fees and expenses incurred in asserting, investigating or defending or settling
any of the foregoing or the enforcement of rights hereunder).

 

“Data Requirements”
means the requirements of all applicable Contracts, Company Data Policies, and Laws, concerning the Processing of Company Data or the
confidentiality, nondisclosure, privacy, or security thereof.

 

“Data Room”
means the iDeals online data site located at https://www4.idealsvdr.com/.

 

“Environmental Laws”
means all federal, state and local statutes, regulations, ordinances, rules, regulations and policies having the force of law, and all
court orders and decrees and arbitration awards, and the common law, which pertain to environmental matters (including the pollution or
protection of the environment), worker health and safety or contamination of any type whatsoever (including those relating to the presence,
use, production, generation, handling, transportation, treatment, storage, disposal, distribution, labeling, testing, processing, discharge,
release, control or cleanup of Hazardous Materials).

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended.

 

“Equity Interest”
means (a) any common, preferred, or other share capital, limited liability company interest, or membership interest, partnership
interest, or similar security; (b) any warrants, options, or other rights to, directly or indirectly, acquire any security described
in clause (a); (c) any other security containing equity features, voting rights, or profit participation features; (d) any
security or instrument convertible or exchangeable, directly or indirectly, with or without consideration, into or for any security described
in clauses (a) through (c) above or another similar security (including convertible notes); and (e) any security
carrying any warrant or right to subscribe for or purchase any security described in clauses (a) through (d) above
or any similar security. Without limiting the foregoing, the Company Convertible Instruments shall be deemed “Equity Interests”
hereunder.

 

    A-2

     

    

 

“Equityholders”
means the holders of Company Shares (excluding dormant shares), Company Warrants, Company Outstanding Instruments and Vested Company Options
immediately prior to the Effective Time.

 

“Exchange Act”
shall mean the Securities Exchange Act of 1934, as amended.

 

“Fundamental Representations”
means representations and warranties contained in ‎Section 3.1 (Organization, Existence and Good Standing), ‎Section 3.2
(Power and Authority), ‎Section 3.3 (Enforceability), ‎Section 3.4 (Consents; Non-Contravention); ‎Section 3.5
(Capitalization), Section 3.6 (Subsidiaries) ), Section 3.10 (Taxes), and Section 3.28 (Brokers).

 

“Good Reason”
means any of the following with respect to an employee of the Company: (i) a reduction of more than 12% in an employee’s salary
or monetary value of such employee’s other material benefits, which is not applied in the same proportion to substantially all other
employees of similar position; (ii) any material breach by the Company of the employment agreement with the employee which was not remedied
within 15 days of the date on which the Company was notified, in writing, of such material breach by the employee; and (iii) a material
and adverse change (other than in circumstances constituting Cause) in employee's position, duties or responsibilities as they exist on
the date hereof.

 

“Governmental Entity”
means any nation, any state, any province or any municipal or other political subdivision thereof, and any agency, commission, department,
board, bureau, official, minister, tribunal or court, whether national, state, provincial, local, foreign or multinational, exercising
executive, legislative, judicial, regulatory or administrative functions of a nation, state, province or any municipal or other political
subdivision thereof.

 

“Government Grant”
shall mean any grant, incentive, qualification, subsidy, award, participation, exemption, status, cost sharing arrangement, reimbursement
arrangement or other benefit, relief or privilege, from the government of the State of Israel or any other governmental authority, or
judicial or arbitral body thereof, any outstanding application to receive the same filed by the Company, including, any material Tax or
other incentive granted to, provided or made available to, or enjoyed by the Company, under the Laws of the State of Israel, and further
including without limitation, by or on behalf of or under the authority of the IIA, the Investment Center, the BIRD Foundation or any
other bi/multi-national grant programs for research and development, the European Union, the Fund for Encouragement of Marketing Activities
of the Israeli Government or any other governmental authority.

 

“Hazardous Material”
means any substance that is listed, defined, or regulated as a “hazardous material,” “hazardous waste,” “hazardous
substance,” or “toxic substance,” or that is otherwise regulated under any Environmental Law as an actual or potential
threat to health or the environment, including asbestos, polychlorinated biphenyls, any crude petroleum and its fractions or derivatives
thereof.

 

“IIA” means
the Israel Innovation Authority, previously known as the Research Committee of the Office of the Chief Scientist of the Israeli Ministry
of Economy and Industry.

 

“IIA Funded Intellectual
Property” means Intellectual Property, and any derivatives thereof, for which the Company or any of its Subsidiaries is the
recorded “approval recipient” (as such term is used in the R&D Law) or for which the Company or any of its Subsidiaries
have obligations for vis-à-vis the IIA.

 

“IIA Status Letter”
means written approval from the IIA’s Tmura fund with respect to the Company, in form and substance reasonably satisfactory to Purchaser,
setting forth as of the Effective Time (x) the Government Grants that were received by the Company from the IIA (as calculated pursuant
to the applicable Laws), (y) all interest and linkage accrued and fees thereon (as calculated pursuant to the applicable Laws), and (z)
royalties paid to the IIA on account of the Company’s Government Grants.

 

“Income Tax”
means any Tax imposed upon or measured by net income or gross income (excluding any Tax based solely on gross receipts).

 

    A-3

     

    

 

“Indebtedness”
means, with respect to any Person, as of any date of determination, without duplication: (i) all indebtedness for borrowed money; (ii)
that portion of obligations with respect to capital leases that is properly classified as a liability on a balance sheet in conformity
with US GAAP; (iii) notes payable and drafts accepted representing extensions of credit whether or not representing obligations for borrowed
money (for the avoidance of doubt, excluding any trade accounts payable to any Person); (iv) guaranties securing indebtedness for borrowed
money; (v) all amounts under drawn outstanding letters of credit; (vi) all deferred compensation obligations, including (A) any underfunded
pension or post-retirement Liabilities and (B) all payment obligations under any retiree medical or deferred compensation plans; (vii)
all dividends and distributions payable to any shareholder of such Person and any other amounts owed to any shareholder of such Person
or such Person’s Affiliate, other than employee compensation and other ordinary incidents of employment in the ordinary course of
business consistent with past practice and consistent with the Person’s practices and policies with respect to employees generally;
(viii) all obligations issued or assumed as the deferred purchase price of property or services, all conditional sale obligations and
all obligations under any title retention agreement, including all obligations resulting from any holdback, performance bonus, earn-out
or other contingent payment arrangement in each case related to or arising out of any prior acquisition, business combination or similar
transaction, other than ongoing, ordinary-business trade debt in the amount not exceeding $50,000 in the aggregate; (ix) all obligations
under any interest rate, currency or other hedging agreement; (x) all Liabilities or obligations secured by Liens on any assets; (xi)
all Liabilities or obligations resulting from bank overdrafts; (xii) all unpaid Taxes for all Pre-Closing Tax Periods (and the portion
of any Straddle Periods ending on the Closing Date), (xiii) all Liabilities for any outstanding severance or consulting amounts owed to
any former (as of the Closing) employee, service provider or officer and any Taxes payable in connection therewith; and (xiv) all interest,
any premiums payable or any other costs or charges (including any prepayment penalties, termination fees, breakage costs, make-whole and
expense reimbursements) on any instruments or obligations described in clauses (i) through (xiii) hereof, all as the same may be payable
upon the complete and final payoff thereof, regardless of whether such payoff occurs prior to, simultaneous with or following the Closing.
For the avoidance of doubt, “Indebtedness” of the Company shall not include (A) deferred revenue of the Company incurred in
the ordinary course of business , (B) undrawn amounts under letters of credit, or (C) “double trigger” severance payments
to any employees of the Company arising not only as a result of the consummation of the transactions contemplated by this Agreement but
that also require a subsequent action by the Company, i.e. post-Closing termination by the Company, at the direction of Purchaser. Notwithstanding
the foregoing, to avoid double-counting, “Indebtedness” of the Company shall not include items to the extent that they are
taken into account in the final calculation of the Transaction Expense Amount.

 

“Indemnified Party”
means, with respect to a particular matter, a Person who is entitled to indemnification from another party hereto pursuant to ‎Article IX.

 

“Indemnifying Party”
means, with respect to a particular matter, a party hereto who is required to provide indemnification under ‎Article IX
to another Person.

 

“Indemnifying Pro
Rata Share” means, with respect to a particular Equityholder and at any time, the percentage corresponding to the fraction:
(a) the numerator of which is the aggregate amount of Merger Consideration actually paid or payable to such Equityholder at or prior to
such time, and (b) with a denominator equal to the total amount of Merger Consideration actually paid or payable to all Equityholders
at or prior to such time.

 

“Intellectual Property”
means all intellectual property and industrial property rights, however arising, pursuant to the Laws of any jurisdiction throughout the
world, whether registered or unregistered, including any and all:(a) all patents and patent applications arising under the Laws of
any nation, state or jurisdiction (including any continuations, divisionals, continuations-in-part, provisionals, renewals, reissues,
re-examinations and applications for any of the foregoing); (b) all trademarks, service marks, trade names, slogans, logos, trade
dress, Internet domain names, URLs and similar designations of source or origin, in each case together with all goodwill, registrations
and applications for registration related to any of the foregoing; (c) all copyrights and copyrightable subject matter (including
any registration and applications for any of the foregoing); and (d) all trade secrets, know-how, proprietary processes, formula,
algorithms, models and methodologies, and other intellectual property or proprietary rights of any kind, whether arising under the Laws
of the United States or any other nation, state or jurisdiction; (e) Software; (f) mask works and registrations and applications for registration
thereof, (g) social media user names, identifiers, passwords, and profiles, and rights in telephone numbers, all goodwill associated therewith,
and all registrations and applications therefor; (h) rights of publicity and privacy; (i) shop rights; (j) all advertising and promotional
materials; and (k) websites (including the layout, design and contents of the web pages and underlying codes).

 

    A-4

     

    

 

“IRS” means
the Internal Revenue Service of the United States.

 

“ITA” shall
mean the Israeli Tax Authority.

 

“Joining Equityholder”
means each Equityholder who executes and delivers a Voting Agreement.

 

“Key Employee”
means each of the employees set forth on Schedule 1.1.

 

“Knowledge”
means the actual knowledge, as of the applicable date, of any director or officer of the Company or the Purchaser, as applicable, after
reasonable inquiry. Such individual shall also be deemed to have actual knowledge of a particular fact, circumstance, event or other matter
in question if such knowledge would reasonably be expected to have been obtained by such individual in the ordinary course of the performance
of his duties as an officer or director of the Company or the Purchaser, as applicable.

 

“Law” means
any law, statute, ordinance, regulation, rule, code, treaty or other requirement having the force of law of any Governmental Entity.

 

“Liability”
or “liability” means any financial liability, debt, obligation, deficiency, interest, Tax, penalty, fine, demand, judgment,
claim, or other loss, cost or expense of any kind or nature whatsoever, whether asserted or unasserted, absolute or contingent, known
or unknown, accrued or unaccrued, liquidated or unliquidated, and whether due or become due and regardless of when asserted.

 

“Liens”
means (i) any and all liens, claims, mortgages, security interests, rights, restrictions, limitations, easements, charges (whether floating
or fixed), assessments, levies, pledges and other encumbrances of every kind and nature whatsoever or other similar arrangements, (ii)
with respect to securities, any interest or equity of any Person (including any right to acquire, voting trust or agreement, option or
right of pre-emption or conversion, or any transfer restriction) or (iii) any agreement to create any of the above, in each case, whether
arising by agreement, operation of Law or otherwise.

 

“Material Adverse
Effect” means any event, effect, change, condition or development that, individually or in the aggregate with other such events,
effects, changes, conditions or developments, has, or would reasonably be expected to have a material adverse effect (a) on the business,
operations or financial condition of the Company or the Purchaser, as applicable or (b) upon the ability of the Company, the Equityholders
or the Equityholder Representative to perform any of their obligations under this Agreement or to consummate the transactions contemplated
hereby; provided that, none of the following will constitute or be taken into account in determining whether there has been a Material
Adverse Effect for purposes of clause (a) thereof: any event, circumstance, change, occurrence, fact, development or effect resulting
from or relating to (i) the taking of, or the failure to take, any action contemplated by this Agreement or any of the other Transaction
Documents that is specifically required to be taken or not taken hereunder or thereunder; (ii) changes after the date hereof in the general
economic conditions or political or social climate, including the engagement by the United States in hostilities, whether or not pursuant
to the declaration of a national emergency or war, or the occurrence of any military or terrorist attack upon the United States or any
of its territories, possessions or diplomatic or consular offices or upon any military installation, equipment or personnel of the United
States; (iii) changes after the date hereof in the United States or global financial, securities, banking or commodity markets (including
any disruption thereof and any decline in the price of any security or any market index); (iv) the failure (in and of itself) by the Company
to meet any internal or other projections, budgets, plans or forecasts of its revenues, earnings or other financial performance or results
of operations (provided that, the underlying causes of such failure may be deemed to contribute to a Material Adverse Effect),
(v) changes, after the date hereof, generally applicable to the industries in which the Company operates; (vi) changes in US GAAP after
the date hereof; and (vii) natural disasters, pandemics, labor unrest, strikes, acts of wars, terrorism, sabotage and other “acts
of God”; provided, that, in the case of any event, effect, change, condition or development set forth
in the foregoing clauses (ii) through (iii) and (v) through (vii), inclusive, such events, effects, changes, conditions or developments
do not, individually or in the aggregate, disproportionately affect the business, operations or financial condition of the Company relative
to other companies operating in the industry in which the Company operates. It is hereby agreed that, with respect to the Purchaser only,
the definition of Material Adverse Effect shall also include shortfall of more than 20% in the non-cash assets presented in the audited
balance sheets and related statements of operations, stockholders’ equity and cash flows (together with any notes thereto) of the
Company as of and for the year ended December 31, 2020 compared to the information presented to the Purchaser in the Unaudited Financial
Statements.

 

    A-5

     

    

 

“Milestone”
means the objective, milestone or acceptance criteria (in each case, whether technological criteria, commercial criteria, financial criteria
or otherwise) set out in the Milestone Schedule.

 

“Milestone Achievement
Date” means, with respect to each Milestone, the date on which such Milestone has been successfully achieved.

 

“Milestone Schedule”
means the schedule enclosed hereto as Exhibit H, which delineates the description and terms of each Milestone, the Milestone Target
Date, and the percentage out of the total Earn-out Consideration to be paid on account of the successful achievement of such Milestone.

 

“Milestone Target
Date” means, with respect to each Milestone, the respective date on which such milestone needs to be achieved in order for such
achievement to qualify as a successful achievement.

 

“Open Source Code”
means software code subject to an Open Source License

 

“Open Source License”
means an “open source,” “copyleft” or other similar type of license.

 

“Order”
means any order, writ, injunction or decree of any Governmental Entity, arbitrator or mediator and any settlement agreement or compliance
agreement entered into in connection with any Proceeding.

 

“Ordinance”
shall mean the Israeli Income Tax Ordinance [New Version], 1961, as amended, and the rules and regulations promulgated thereunder.

 

“Ordinary Shares
of the Company” means Ordinary Shares of the Company, par value ILS 0.01 each.

 

“Ordinary Shares
of Purchaser” means Ordinary Shares of Purchaser, par value ILS 0.01 each .

 

“Organizational Documents”
means, with respect to a Person, the following documents that are presently in effect, including any amendments, modifications, or supplements
thereto: (a) the articles or certificate of incorporation, formation, organization, or association; (b) general or limited partnership
agreement; (c) limited liability company or operating agreement; (d) bylaws; and (e) any equityholders’ agreements, investor
rights agreements, voting agreements, voting trusts, joint venture agreements, registration rights agreements, or similar agreements relating
to the ownership of equity interests of such Person and to which such Person is a party.

 

“Payout Spreadsheet”
means a spreadsheet delivered by the Company to Purchaser at least three Business Days prior to Closing, in a form consistent with the
sample spreadsheet attached as Exhibit C and otherwise reasonably acceptable to Purchaser, which shall be updated as of the Closing
Date and shall set forth, as of the Closing Date: (i) the capitalization of the Company including: (A) a complete and accurate list of
the record holders of issued and outstanding Company Shares, number and kind of Company Shares held (including the number of Ordinary
Shares into which such shares are convertible) and the respective certificate numbers thereof, and such holders’ last known respective
addresses and email addresses; (B) a complete and accurate list of all outstanding Company Outstanding Instruments, including the name
of the Person with whom such Company Outstanding Instruments were made, the number and type of Company Shares issuable (in case of the
Company Convertible Instruments) upon the conversion of such Company Outstanding Instruments; and (C) a complete and accurate list of
all outstanding Company Warrants, including the name of the Person to whom such Company Warrants have been issued, the number and type
of Company Shares issuable upon the exercise of such Company Warrants, and the per share exercise price for each Company Warrant; and
(ii) the following information, calculated in accordance with applicable Law, the Organizational Documents of the Company and all other
Contractual requirements on the part of the Company: (1) the amount which each Equityholder is entitled to receive (subject to ‎Section 2.7
and ‎Section 2.8) pursuant to ‎Section 2.3, (2) the formula for calculating, at any time, the portion of any
Post-Closing Payout Amounts that are payable in respect of each Company Share, Company Outstanding Instruments and Company Warrant, and
(3) the formula for calculating, at any time, the Pro Rata Share and Indemnifying Pro Rata Share of each Equityholder.

 

    A-6

     

    

 

“Permits”
means all licenses, permits, registrations and government approvals.

 

“Permitted Liens”
means: (a) statutory liens for Taxes not yet due but only to the extent an adequate reserve has been accrued as a current liability in
accordance with US GAAP and taken into account in Closing Indebtedness as finally determined pursuant to ‎Section 2.12;
(b) statutory liens of landlords, carriers, warehousemen, mechanics and materialmen incurred in the ordinary course of business for sums
not yet due; (c) liens incurred or deposits made in the ordinary course of business in connection with workers’ compensation, unemployment
insurance and other types of social security or to secure the performance of tenders, statutory obligations, surety and appeal bonds,
bids, leases, government contracts, performance and return of money bonds and similar obligations; (d) minor irregularities of title that
are of record and do not, individually or in the aggregate, materially detract from the value or use of the Company’s assets; and
(e) statutory liens mandated by IIA’s applicable Laws with respect to the IIA Funded Intellectual Property.

 

“Person”
means any natural individual, corporation, partnership, limited liability company, joint venture, association, bank, trust company, trust
or other entity, whether or not legal entities, or any governmental entity, agency or political subdivision.

 

“Post-Closing Payment
Amounts” means, with respect to each Company Share, Company Outstanding Instrument and Company Warrant, the amounts that may
become payable in respect of such Company Share, Company Outstanding Instrument and Company Warrant from the Deferred Closing Consideration,
Indemnity Escrow Account, and the Expense Fund in accordance with ‎Section 2.4 or ‎Section 12.5, respectively,
and, without duplication of the foregoing, any amounts that may become payable in respect of each Company Share, Company Outstanding Instrument
and Company Warrant after the Closing pursuant to ‎Section 1.1.

 

“Pre-Closing Tax
Period” means any Tax period ending on or prior to the Closing.

 

“Preferred A Shares”
means Series A Preferred Shares of the Company, par value ILS 0.01.

 

“Preferred B Shares”
means Series B Preferred Shares of the Company, par value ILS 0.01.

 

“Preferred C Shares”
means Series C Preferred Shares of the Company, par value ILS 0.01.

 

“Proceeding”
means any litigation (in law or in equity), arbitration, mediation, action, lawsuit, proceeding, compliant, charge, claim, demand, hearing,
inquiry, audit, examination, investigation or like matter before or by any Governmental Entity, whether administrative, judicial or arbitration
in nature.

 

“Processing”
means, with respect to any data or information, collection, use, disclosure, transfer, transmission, storage, management, hosting, disposal,
retention, aggregation, analysis, curation, de-identification, or other handling or processing.

 

“Pro Rata Share”
means, with respect to a particular Equityholder, the percentage corresponding to the fraction: (a) the numerator of which is the aggregate
amount of Merger Consideration actually paid or payable to such Equityholder at or prior to such time, and (b) the denominator of which
equals the total amount of Merger Consideration actually paid or payable to all Equityholders at or prior to such time.

 

“Purchaser Share
Consideration” means unregistered Ordinary Shares of Purchaser, par value ILS 0.01 per share.

 

“Purchaser Share
Consideration Price” means (i) with respect to the Closing Consideration and the Deferred Closing Consideration paid at Closing,
an amount per share of Purchaser Share Consideration equal to the weighted average closing price of registered Ordinary Shares of Purchaser
(NASDAQ: NNOX) for the 90 trading days ending on the date hereof (as may be adjusted as appropriate to reflect any share splits, share
dividends, combinations, reorganizations, reclassifications or similar events), (ii) with respect to each payment of the Earn-out Consideration,
an amount per share of Purchaser Share Consideration equal to the average closing price of registered Ordinary Shares of Purchaser (NASDAQ:
NNOX) for the 30 trading days ending on the applicable Milestone Achievement Date (as may be adjusted as appropriate to reflect any share
splits, share dividends, combinations, reorganizations, reclassifications or similar events), and (iii) with respect to each payment of
the Deferred Closing Consideration which is not paid at Closing, an amount per share of Purchaser Share Consideration equal to the average
closing price of Ordinary Shares of Purchaser (NASDAQ: NNOX) for the 30 trading days ending on the applicable Deferred Closing Payment
Date (as may be adjusted as appropriate to reflect any share splits, share dividends, combinations, reorganizations, reclassifications
or similar events).

 

    A-7

     

    

 

“Related Party”
means, with respect to a Person, (a) any Affiliate of such Person, and any direct or indirect beneficial owner of 5% or more of the
equity securities or voting securities or other voting interests in such Person; (b) any member, manager, general partner, director,
officer, trustee, executor or receiver of such Person or Person described in clause (a) above or the estate of such Person
or any Person described in clause (a) above; (c) that is an individual, such individual’s spouse, domestic partner
or immediate family member of such individual; and (d) any trust, family partnership, family limited partnership, family limited
liability company, or other entity established for the benefit of such Person or any Person described in any of clauses (a)
through (c) above.

 

“R&D Law”
shall mean the Israeli Encouragement of Research, Development and Technological Innovation in Industry Law, 5744-1984, including regulations,
directives and rules promulgated thereunder and decisions of any IIA research committee.

 

“Requisite Supporting
Shareholders” means, (A) with respect to the Effective Date, Shareholders owning more than the minimum amount required under
the Company Charter and the applicable law, to include, at the minimum, (i) 50% of the issued and outstanding Company Shares (as calculated
on an as-converted to Company’s Ordinary Shares basis), (ii) 66.66 % of the Company's issued and outstanding Preferred A Shares,
Preferred B Shares and Preferred C Shares (in aggregate), and (iii) the 50% of the issued and outstanding share capital each class of
Company Shares; and (B) with respect to the Closing, Shareholders owning more than the minimum amount required under the Company Charter
and the applicable law, to include, at the minimum, 80% of the issued and outstanding of each class of Company Shares (as calculated on
an as-converted to Company’s Ordinary Shares basis).

 

“SEC” shall
mean the United States Securities and Exchange Commission.

 

“Security Incident”
means any actual or suspected loss, damage or unauthorized access to, or unauthorized acquisition, use, modification, denial or loss of
use of, destruction, compromise, disclosure or other misuse of, any Company Data or any Company Information Systems.

 

“Securities Act”
shall mean the Securities Act of 1933, as amended.

 

“Shareholder”
means a holder of Company Shares.

 

“Shareholder Approval”
means the approval of the holders owning a class and number of Company Shares sufficient to approve, authorize and adopt this Agreement,
the Merger, the other Transaction Documents to which the Company is a party and the other transactions contemplated hereby and thereby,
and to consummate the Merger and the other transactions contemplated hereby and thereby, as required under the ICL, the Company Organizational
Documents, the Shareholders Agreements and any applicable agreements between the Company, on the one hand, and any one or more Shareholders,
on the other hand.

 

“Software”
means all computer programs (including any and all software implementation of algorithms, models and methodologies whether in source code
or object code), databases and computations (including any and all data and collections of data), documentation (including user manuals
and training materials) relating to any of the foregoing and the content and information contained in any web sites.

 

“Spousal Consent”
means, with respect to a Shareholder who is a married individual, the consent of the spouse of such Shareholder to the sale of such Shareholder’s
Company Shares, in the form which will be reasonably agreed between the Parties.

 

“Straddle Period”
means any Tax period that begins on or before and ends after the Closing Date.

 

    A-8

     

    

 

“Subsidiary”
means any corporation, limited liability company, partnership, association or other business entity of which (i) if a corporation, a majority
of the total voting power of shares of Share entitled (without regard to the occurrence of any contingency) to vote in the election of
directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by another Person, or (ii) if a limited
liability company, partnership, association or other business entity, a majority of the partnership or other similar ownership interest
thereof is at the time owned or controlled, directly or indirectly, by another Person.

 

“Tax Returns”
means all returns, declarations, reports, estimates, claims for refund, information returns or statements, statements of foreign bank
and financial accounts, and other documents required to be filed by the Company in respect of any Taxes, including any schedules or attachments
thereto and including any amendment or supplement thereof, and the term “Tax Return” means any one of the foregoing
Tax Returns.

 

“Taxes”
means all taxes, charges, fees, levies, or other like assessments, including all federal, possession, province, state, city, county or
foreign (or governmental unit, agency, or political subdivision of any of the foregoing) corporate, net income, franchise, profits, alternative
or add-on minimum, gross income, gross receipts, real or personal property, ad valorem, net worth, sales, use, transfer, value added,
severance, stamp, gains, license, excise, environmental, premium, employment (including Social Security, unemployment insurance, employer
health and employee income tax withholding), withholding or minimum taxes, customs, duties, or any other tax, fee, levy or other like
assessment or charge of any kind whatsoever, together with any interest or any penalty, addition to tax or additional amount imposed by
any Governmental Entity, whether disputed or not, and including any obligations to pay Taxes of others, whether pursuant to Treasury Regulations
Section 1.1502-6 (or any similar provision of state, local, or non-U.S. Law), as a transferee, successor, by Contract, or otherwise, and
the term “Tax” means any one of the foregoing Taxes.

 

“Third Party Claim”
means any action, lawsuit, proceeding, investigation, hearing, or like matter that is asserted or overtly threatened by a Person other
than the parties, their successors and permitted assigns, against any Indemnified Party or to which any Indemnified Party is subject.

 

“Transaction Documents”
means this Agreement and all the other agreements, certificates, instruments and other documents to be executed or delivered in connection
with the transactions contemplated by this Agreement.

 

“Transaction Expenses”
means (i) all Liabilities incurred by the Company in connection with the preparation, negotiation, execution and consummation of
the Merger, this Agreement and the other Transaction Documents and the transactions contemplated hereby and thereby, including the premium
of the Tail Insurance Coverage procured by the Company pursuant to ‎Section 6.2, and (ii) all Liabilities and obligations
of the Company to any Person arising from change of control payments, commission agreements, stay bonuses, transaction bonuses, retention
agreements and similar arrangements or amounts payable as a result of the consummation of the Merger and the other transactions contemplated
hereby, and including, if applicable, the Company’s share of employment Taxes with respect to such Liabilities and obligations,
but excluding any severance or other payments arising solely as a result of the termination of any employee of the Company by Purchaser,
the Surviving Corporation or any of their Affiliates on or after the Closing Date and excluding any expenses paid from the Expense Fund.

 

“Unvested Company
Options” means Company Options which are not exercisable as of the date of the Effective Time.

 

“Unrecognized Tax
Items” means the amount of any income or deductions disclosed with respect to ‎Section 3.10(b) that is required
to be included or excluded, respectively, in taxable income for a Tax period or portion thereof beginning after the Closing Date.

 

“US GAAP”
means the generally accepted accounting principles in the US.

 

“Vested Company Options”
means Company Options which are outstanding and exercisable vested as of the date of the Effective Time.

 

“Warrant Cancellation
Agreement” means an agreement duly executed by a holder of Company Warrants acknowledging and agreeing to the cancelation of
(a) any agreement pursuant to which such holder of Company Warrants is granted a right to purchase any Company Shares, and (b) all Company
Warrants held by such holder of Company Warrants, in form and substance reasonably acceptable to the Purchaser.

 

    A-9

     

    

 

Schedule 1.1

 

Key Employees

 

Eyal Toledano*

 

Orit Wimpfheimer*

 

Ayelet Akselrod-Ballin*

 

Amit Oved

 

Demi Goldberg

 

Guy Cohen

 

Shmulik Ahituv

 

Ronen Gordon

 

Shai Reshef

 

Zohar Elhanani

 

	*	are also defined as Essential Key Employees.

 

     

     

    

 

Exhibit H

 

Milestone Schedule

 

	
    Objective
	 	Milestone	 	Acceptance Criteria	 	%
	
    (1.a)

    FDA clearance of the existing Company’s’ Viewer

     
	 	FDA clearance 	 	Submission of company web-viewer for FDA within 6 months of closing, payment after FDA clearance is received	 	8%
	
    (1.b)

    Security Certification SOC2

     
	 	Renewal of SOC2 	 	Approval of SOC2 renewal certification by year end 2022 	 	1%
	
    (1.c)

    Security Certification ISO

     
	 	Acceptance of ISO 27001 and 27799	 	
    ISO auditor approval and ISO re-certification by year end 2022

    (next audit is expected only May 2022)
	 	1%
	
    (2)

    Nanox ARC integration and FDA clearance to Zebra cloud
	 	Nanox ARC integration and FDA clearance to Zebra cloud	 	
    Nanox ARC fully integrated with Zebra Company’s Cloud solution,
    including Existing Nanox Image Reconstruction algo and Nanox ARC base storage, within 9 months of closing.

     

    FDA clearance for the integrated solution by year end 2023, Subject
    to NANOX existing reconstruction algorithm is provided at closing and its performance meets FDA predicate requirement

     
	 	15%
	(3)Current CPT code usage	 	Health plans use the CPT code in 2022	 	The Company achieves the usage level defined by a major US payer (health insurance company) during 2022

         
	 	3%
	(4) Current CPT code revenues

         
	 	 	 	First billable transactions deliver at least 1M$ by year end 2023	 	7%
	
    (5)

     

    New CPT code
	 	
     

    Acceptance of a new code for Nanox procedures
	 	
    Acceptance notice from AMA

    By year end 2023

     

    Depending on Nanox providing:

    1)       FDA
    approval for Nanox Modality (ARC) procedure during 2022

    2)       3
    clinical peer reviewed accepted papers supporting Nanox Tomo CPT claims

     
	 	5%

 

     

     

    

 

	
    (6)

    FDA - pop health
	 	New FDA clearance for a Zebra population health product

                            
	 	
    New Zebra product designated for population health is cleared by FDA
    by year end 2022

     
	 	7.5%
	
    (7)

    FDA - X-Ray
	 	Extending zebra FDA clearance for 

X-ray product to include Nanox 

X-ray machine	 	
    FDA clearance by March 2023

     

    Zebra shall provide data for development (tagged 1000/1000 positives
    negatives) by March 2022

     

    Subject to Nanox application for FDA approval of the Nano-X’s
    technology during 2022*

     

    Subject to Nanox providing for tuning 500/500 positive/negative until
    May 2022 and clinical validation 250/250 positive/negative until Aug 2022

     
	 	7.5%
	
    (8)

    Attainment of revenue goals
	 	
    Achieve 90% of the revenue projections provided by Zebra management
    for 2022 ($9.311 million) and 70% for 2023 ($42.001 million).

     
	 	Zebra audited annual report demonstrate that 90% of the revenue projections provided by Zebra management for 2022 ($9.311 million) and 70% for 2023 ($42.001 million).	 	30%
	
    (9)

    Employees retention
	 	 	 	
    First year Team retention for 80% of all of the Company’s employees
    as of the Closing (but to include 80% of all Key Employees and all of the Essential Key Employees) and 2nd and 3rd year Team retention
    of 70% of all of the Company’s employees as of the Closing (but to include 70% of all Key Employees and all of the Essential Key
    Employees) (the “Retention Criteria”). Targets are accumulative and the measurement and payment will be done three
    years as of the Closing.

    It is hereby agreed that (i) if an employee’s employment
by the Company is (a) terminated by the Company or Purchaser other than for Cause, or (b) terminated by the employee for Good Reason
within 30 days of the day on which the circumstances which give rise to the Good Reason had occurred, or (ii) if within 60 days after
an employee (not including, for the removal of a doubt, Essential Key Employees) left the Company for any reason (other than the termination
of his/her employment for Cause), the Company hires an equally competent employee (reasonably acceptable to the Purchaser ) instead of
such employee; then the employees noted in (i) and (ii) above shall be deemed as ‘employed by the Company’ for the purpose
of determining whether the terms of the Retention Condition were satisfied. 
	 	15%

 

If the Purchaser has decided to abandon
certain technology or product underlying a specific Milestone, causing that such Milestone cannot be achieved (the “Abandoned
Milestone”), the Purchaser shall promptly notify the Equityholders Representative of such decision and the Purchaser and the
Equityholders Representative will agree on a new milestone which is is useful for Purchaser and equivalent to the Abandoned Milestone,
and if no written agreement has been reached with respect to a new milestone within 90 days following such notice by Purchaser, the Earn-out
Payment Amount of the Abandoned Milestone shall be added, on a pro-rata basis, to all of the other Milestones (including those Milestone
that their respective “Milestone Target Date” has lapsed.

 

		·	Notwithstanding the above, if the Milestone cannot be achieved
because Purchaser does not receive the approval or does not submit the application in 2022 the parties will agree on equivalent milestones
for Company’s components that are useful for Purchaser.

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