Document:

Exhibit 10.7

 

AWARD AGREEMENT

 

This Award Agreement (this “Award
Agreement”) is entered into as of the date hereof, by between InMode Ltd., a private company No. 514073618 of Tavor Building,
Sha’ar Yokneam, P.O. Box 533, Yokneam 20692, Israel (the “Company”) and [____________________], [______]
Passport / Israeli ID Number [___________], of [_________________________________________________] (the “Participant”)
(the Company and the Participant, shall be referred collectively, as “Parties”, or individually, a “Party”).

 

		Whereas,	On June 17, 2018, the Company adopted the InMode Ltd. 2018 Incentive Plan, a copy of which is attached
as Exhibit A hereto, forming an integral part hereof (the “Plan”); and

 

		Whereas,	Pursuant to the Plan, the Board of Directors of the Company has decided to grant the Participant,
options (the “Options”) to purchase the number of shares of the Company’s ordinary shares, par value NIS
0.01 each (the “Shares”) as specified in Exhibit B hereto, subject to all terms and conditions
set forth in the Plan, in the Company's Articles of Association (the “AoA”) and as provided herein;

 

NOW, THEREFORE, the Parties to this
Agreement hereby agree as follows:

 

		1.	Preamble and Definitions

 

		1.1.	The preamble to this agreement constitutes an integral part hereof.

 

		1.2.	Unless otherwise stated, all capitalized terms in this Award
Agreement shall be interpreted as defined in the Plan.

 

		2.	Grant of Options

 

		2.1.	The Company hereby grants to the Participant the number of Options
as set forth in Exhibit B hereto, each Option shall be exercisable for one Share, upon payment of the Exercise Price as set forth
in Exhibit B, subject to the terms and the conditions as set forth in the Plan, and as provided herein. 

 

		2.2.	The Participant is aware that the Company intends in the future
to issue additional shares and to grant additional options to various entities and individuals, as the Company in its sole discretion
shall determine.

 

		3.	Period of Option and Conditions of Exercise

 

		3.1.	The terms of the Award shall commence on the Date of Grant and
terminate at the Expiration Date, or at the time at which the Option expires pursuant to the terms of the Plan or pursuant to this
Award Agreement unless determined otherwise in this Award Agreement. 

 

		3.2.	Options may be exercised only to purchase whole Shares, and in
no case may a fraction of a Share be purchased.

 

     

     

    

 

		4.	Vesting; Period of Exercise

 

		4.1.	Subject
                                         to the provisions of the Plan, Options shall vest and become exercisable according to
                                         the Vesting Period set forth in Exhibit B hereto.
                                         any period in which the Participant shall not be employed by the Group, or in which the
                                         Participant shall have taken an unpaid leave of absence (excluding a maternity leave
                                         determined by law), or in which the Participant shall cease to serve as Employee, Director
                                         or Consultant of the Group, shall not be included in the Vesting Period.

 

		4.2.	All unexercised Options granted to the Participant shall terminate
and shall no longer be exercisable on the Expiration Date, as described in Section 8.4 of the Plan.

 

		5.	Exercise of Options

 

		5.1.	Once
                                         the Options may be exercised (subject to the provisions hereto) and all other conditions
                                         for exercising the Options are fulfilled, the Participant is entitled to notify the Company
                                         and/or to any third party designated by the Company, by delivering a “Notice of
                                         Exercise” (in the form attached hereto as Exhibit C),
                                         that he or she wishes to exercise a certain number of Options (but not more than the
                                         number of Options that have become exercisable until such date). The Notice of Exercise
                                         shall be accompanied by payment for the Shares, equal to the product of (x) the number
                                         of Options the Participant wishes to exercise, and (y) the Exercise Price.

 

		5.2.	In order for the Company to issue Shares upon the exercise of
any of the Options, the Participant hereby agrees to sign any and all documents required by any applicable law and/or by the Board
and/or by the Committee and/or according to the AoA and the Plan.

 

		5.3.	Pursuant
                                         to Section 6.2 of the Plan and as a condition precedent to the Company’s issuance
                                         of Options and Exercised Shares under the Plan, the Participant is required to execute
                                         and deliver to the Company an irrevocable proxy and power of attorney in the form attached
                                         hereto as Exhibit D, appointing
                                         as his/her proxy, attorney and agent the Chairman of the Board or any other person designated
                                         by the Committee formed by the Board for such purpose. The Exercised Shares will be voted
                                         in the same proportion as the result of the shareholders vote, in respect of which such
                                         Exercised Shares are being cast. Such proxy shall terminate and be of no further force
                                         and effect upon the consummation of an IPO.

 

		5.4.	The Company shall not be obligated to issue any Shares upon the
exercise of an Option if such issuance, in the opinion of the Company, might constitute a violation by the Company of any provision
of law.

 

		5.5.	Pursuant to Section 9 of the Plan, Options may be exercised after
the date of Termination of Service during an additional period of time following the date of such termination. In such event Participant
shall be allowed to exercise only the amount of Options that are vested as such amount may be at the time of such termination according
to the Vesting Period, specified in Exhibit B. However, if the Termination of Service is for Cause (as defined in the Plan), any
and all Options granted to such Participant shall immediately expire upon written notice by the Company to the Participant.

 

    	 	-2-	 

     

    

 

		6.	Limitations of Transfer

 

		6.1.	The Options are not transferable, except for transfer by will
or by laws of descent or distribution. In addition, the rights to sell Exercised Shares are subject to limitations as provided
by Section 11 of the Plan, and as imposed by applicable law (including the AoA), and to any request made by the Company or its
underwriters, if applicable (including a lock-up period), from time to time, or upon a specific occurrence, and the Participant
hereby unconditionally agrees and accepts any such limitations. For the avoidance of doubt the Participant may not sell, assign,
convey, transfer by gift, encumber, pledge, hypothecate or otherwise transfer or dispose any of the Options, except as specifically
allowed under the Plan.

 

		6.2.	The Participant acknowledges that in the event Company's shares
shall be registered for trading in any public market, the Participant’s right to sell Shares may be subject to limitations
(including a lock-up period), as will be requested by the Company or its underwriters, and the Participant unconditionally agrees
and accepts any such limitations.

 

		6.3.	The Participant acknowledges that in order to enforce the above
restriction, the Company may impose stop-transfer instructions with respect to securities the exercised Shares.

 

		6.4.	The Participant agrees that the Company shall have the authority
to endorse upon the certificate or certificates representing the Participant's Shares such legends referring to the foregoing restrictions,
and any other applicable restrictions as it may deem appropriate (which do not violate the Participant's rights according to this
Award Agreement).

 

		7.	Taxes; Indemnification

 

		7.1	All Tax consequences and obligations arising from the grant,
vesting, or exercise of any Award (as applicable), or the subsequent disposition of, Shares subject thereto or from any other event
or act (of the Group or of the Participant) hereunder, shall be borne solely by the Participant, and the Participant shall indemnify
the Group and hold it harmless against and from any and all liability for any such Tax, including without limitation, monetary
liabilities relating to the necessity to withhold, or to have withheld, any such Tax payment from any payment made to the Participant.
Notwithstanding the above, the Company's obligation to deliver Shares upon the exercise or vesting of any Awards granted under
the Plan shall be subject to the satisfaction of all applicable Tax withholding requirements as governed by Applicable Laws or
practice. No Shares will be delivered to the Participant or other person pursuant to the exercise of the Award until the Participant
or other person has made arrangements acceptable to the Company for the satisfaction of applicable income tax and employment tax
withholding obligations, including, without limitation, such other tax or benefit obligations incident to the receipt of Shares
(whether such tax or benefit is the obligation of the Participant or the employer or the Company). Upon exercise of the Award,
the Company or the Participant’s employer may offset or withhold (from any amount owed by the Company or the Participant’s
employer to the Participant) or collect from the Participant or other person an amount sufficient to satisfy such tax obligations.

 

		7.2.	The Participant will not be entitled to receive from the Company
any Shares allocated or issued upon the exercise of Options prior to the full payments of the Participant’s tax liabilities
arising from Options which were granted to him and/or Shares issued upon the exercise of Options. For the avoidance of doubt, the
Group shall not be required to deliver any Shares (or Share certificate) to a Participant until all required payments have been
fully made or secured. 

 

    	 	-3-	 

     

    

 

		7.3.	The receipt of the Options and the acquisition of the Participant's
Shares to be issued upon the exercise of the Options may result in tax consequences. THE PARTICIPANT IS ADVISED TO CONSULT A TAX
ADVISER WITH RESPECT TO THE TAX CONSEQUENCES OF RECEIVING OR EXERCISING THIS OPTION OR DISPOSING OF THE SHARES.

 

		8.	Miscellaneous

 

		8.1.	No Obligation to Exercise Options. The grant and acceptance
of these Options imposes no obligation on the Participant to exercise it.

 

		8.2.	Confidentiality. The Participant shall regard the information
in this Award Agreement and its exhibits attached hereto as confidential information and the Participant shall not reveal its contents
to anyone except when required by law or for the purpose of gaining legal or tax advice.

 

		8.3.	The Participant acknowledges that: (i) in granting the Participant
the Option under this Award Agreement the Company has taken into account Participant's non-competition and confidentiality obligations
(including without limitation such obligations specified under the employment or service agreement with the Company); (ii) that
the Options issued hereby shall be deemed to include, inter alia, proper compensation for the prospect of the Participant's compliance
with such non-competition and confidentiality obligations; and (iii) the aforementioned non-competition and confidentiality obligations
are fundamental elements of the bargain between the parties.

 

		8.4.	Continuation of Employment or Service. Neither the Plan
nor the Award Agreement with the Participant shall impose any obligation on the Company or an affiliate thereof, to continue any
Participant in its employ or service, and nothing in the Plan or in any Award granted pursuant thereto shall confer upon any Participant
any right to continue in the employ or service of the Company or an affiliate thereof or restrict the right of the Company or an
affiliate thereof to terminate such employment or service at any time.

 

		8.5.	Entire Agreement. Subject to the provisions of the Plan,
this Award Agreement, together with the exhibits hereto, constitute the entire agreement between the Participant and the Company
with respect to Options granted hereunder, and supersedes all prior agreements, understandings and arrangements, oral or written,
between the Participant and the Company with respect to the subject matter hereof.

 

		8.6.	Failure to Enforce - Not a Waiver. The failure of any
party to enforce at any time any provisions of this Award Agreement or the Plan shall in no way be construed to be a waiver of
such provision or of any other provision hereof.

 

		8.7.	Provisions of the Plan. The Options provided for herein
are granted pursuant to the Plan and said Options and this Award Agreement are in all respects governed by the Plan and subject
to all of the terms and provisions of the Plan.

 

		8.8.	Interpretation. Any interpretation of this Award Agreement
will be made in accordance with the Plan but in the event there is any contradiction between the provisions of this Award Agreement
and the Plan, the provisions of the Award Agreement will prevail. In the event there is any contradiction between the provisions
of this Award Agreement and the provisions of any of the Participant's employment or service agreement with the Group, the provisions
of the Award Agreement will prevail.

 

    	 	-4-	 

     

    

 

		8.9.	Binding Effect. The Plan and this Award Agreement shall
be binding upon the heirs, executors, administrators and successors of the parties hereof.

 

		8.10.	Notices. All notices or other communications
given or made hereunder shall be in writing and shall be delivered or mailed by registered mail or delivered by email or facsimile
with written confirmation of receipt to the Participant and/or to the Company at the addresses shown on the letterhead above, or
at such other place as the Company may designate by written notice to the Participant. The Participant is responsible for notifying
the Company in writing of any change in the Participant’s address, and the Company shall be deemed to have complied with
any obligation to provide the Participant with notice by sending such notice to the address indicated below

 

IN WITNESS WHEREOF, the Parties
hereto have duly executed this Award Agreement as of the date first above written.

 

	Company’s Signature:	InMode Ltd. (No. 514073618)	 
	 	 	 
	Name:	Moshe Mizrahy	 
	 	 	 
	Position:	CEO	 
	 	 	 
	Signature:	 	 

 

    	 	-5-	 

     

    

 

I, the undersigned understand that the
Plan and this Award Agreement, constitute the entire agreement between me and the Company with respect to the Options granted
hereunder and supersede in their entirety all prior undertakings and agreements of the Company and myself, both written and
oral, with respect to the Options granted hereunder (including the shares underlying such Options). I have reviewed the Plan and
this Award Agreement in their entirety, and had an opportunity to obtain the advice of counsel prior to executing this Award Agreement
and fully understand all provisions of this Award Agreement.

 

	 	 
	 	Participant’s Signature

 

Attachments:

 

Exhibit
A: InMode Ltd. 2018 Incentive Plan.

 

Exhibit
B: Terms of the Award.

 

Exhibit
C: Form of Notice of Exercise.

 

Exhibit
D: Irrevocable Proxy.

 

    	 	-6-	 

     

    

 

EXHIBIT B

TERMS OF THE OPTION

 

	1.	Name of the Participant:	[_______________].
	 	 	 
	2.	Date of Grant:	[_______________].
	 	 	 
	3.	Type of Grant:	[Ordinary Income Option] or [3(i) Award] or [ISO] or [NSO]
	 	 	 
	4.	Number of Awards granted:	[________] each to purchase one Ordinary Share.
	 	 	 
	5.	Vesting Commencement Date:	[________________]
	 	 	 
	6.	Vesting Schedule:	[___________________________].
	 	 	 
	7.	Exercise Price (per share):	USD [________].
	 	 	 
	8.	Expiration Date:	As determined in the Plan.

 

	 	 	 
	Participant	 	Company

 

    	 	-7-	 

     

    

 

EXHIBIT C

FORM
OF EXERCISE NOTICE

 

To:

 

InMode Ltd.

 

Dear Sirs,

 

Re: Exercise of Options - InMode Ltd.
(the “Company”)

 

I am the holder of ______ options (the
“Options”), which are exercisable into Ordinary Shares of the Company, par value of NIS 0.01 each (the “Shares”)
that were granted to me under the “InMode Ltd. 2018 Incentive Plan”.

 

I know that the vesting schedule of the
Options is as detailed in the “Award Agreement”, which was signed by me on _______.

 

I would like to exercise ____ Options into
___ Shares, in consideration for an aggregate Exercise Price of USD _________.

 

A confirmation of the transfer of the Exercise
Price with respect to the above exercised Options and a scanned copy of a duly notarized copy of the passport picture page of the
undersigned are attached hereto. Original copy of the duly notarized copy of the passport picture page of the undersigned will
be followed by mail.

 

	 	Yours Truly,
	 	 	 
	 	Name:	 
	 	 	 
	 	Signature:	 

 

    	 	-8-	 

     

    

 

EXHIBIT D

IRREVOCABLE PROXY

 

I, the undersigned, hereby irrevocably
appoint the Chairman of the Board of InMode Ltd., an Israeli company (the "Board" and the “Company”,
respectively) or any other person designated by the Committee formed by the Board for such purpose (with the power of delegation)
as my proxy (the “Agent”) to represent me and to vote in my name and on my behalf at all annual or special meetings
of the shareholders of the Company (including class meetings) in the same way as the result of the Board's vote in respect of the
issue being voted upon, to sign on my behalf any written consents of shareholders of the Company, and to receive all notices with
respect to the above, with respect to the number of shares of all classes of the Company registered in my name at any time and
from time to time. Until the consummation of the Company’s Initial Public Offering (the “IPO”), any and
all voting rights the undersigned may have with respect to the shares of the Company shall be exercised exclusively by this Proxy
and Power of Attorney.

 

I, the undersigned, hereby irrevocably
authorize and grant power of attorney to the Agent, in respect of any shares of all classes of the Company registered in my name
at any time and from time to time, until the consummation of the IPO, to exercise every right, power and authority with respect
to the shares and to sign in my name and on my behalf any agreement, document and/or instrument, and any affidavit or approval
with respect to the shares or to the rights which they represent in the Company in as much as the Agent shall deem it necessary
or desirable to do so. In addition and without derogating from the generality of the foregoing, I hereby irrevocably authorize
and grant power of attorney to the Agent to sign any agreement, document and/or instrument as aforesaid and any affidavit or approval
and/or to make and execute any undertaking in my name and on my behalf if the Proxy shall, at his sole discretion, deem it is necessary
or desirable for purposes of any placement of securities of the Company, whether private or public (including lock-up arrangements
and undertakings), for purposes of a merger of the Company with another entity, whether the Company is the surviving entity or
not, for purposes of any reorganization or recapitalization of the Company or for purposes of any purchase or sale of assets or
shares of the Company.

 

I, the undersigned, hereby further undertake
to cooperate with the Agent, and to sign, if so requested by the Agent any additional document and/or instrument which the Agent
might, from time to time, consider necessary or desirable in order to perform this Proxy and Power of Attorney.

 

This Proxy and Power of Attorney shall
expire automatically and be of no further force or effect immediately upon the consummation of the IPO, and shall be irrevocable
until such time. The expiration of this Proxy and Power of Attorney shall in no manner effect the validity of any action taken
hereunder or of any agreement, document, instrument, affidavit or approval which has been signed or given as aforesaid prior to
the expiration hereof and in accordance herewith.

 

The proxy granted hereby: (i) is a special
proxy and power of attorney coupled with an interest and is irrevocable; (ii) shall survive the bankruptcy, death, adjudication
of incompetence or insanity or dissolution of the undersigned and its transferees, (iii) shall survive the transfer of the Shares,
until duly replaced by a similar Proxy executed by the transferee; and (iv) is perpetual except that it shall terminate upon the
effective date of an IPO.

 

IN WITNESS WHEREOF, I have executed
this Irrevocable Proxy and Power of Attorney on the __ day of _________, 201_.

 

	 	Participant:
	 	 	 
	 	Name:	 
	 	 	 
	 	Signature:	 

 

    	 	-9-	 

     

    

 

AWARD AGREEMENT

 

This Award Agreement (this “Award
Agreement”) is entered into as of the date hereof, by between InMode Ltd., a private company No. 514073618 of Tavor Building,
Sha’ar Yokneam, P.O. Box 533, Yokneam 20692, Israel (the “Company”) and [___________], I.D Number [_______],
of [_________], Israel (the “Participant”) (the Company and the Participant, shall be referred collectively,
as “Parties”, or individually, a “Party”).

 

		Whereas,	On June 17, 2018, the Company adopted the InMode Ltd. 2018 Incentive Plan, a copy of which is attached
as Exhibit A hereto, forming an integral part hereof (the “Plan”); and

 

		Whereas,	Pursuant to the Plan, the Board of Directors of the Company has decided to grant the Participant,
options (the “Options”) to purchase the number of shares of the Company’s ordinary shares, par value NIS
0.01 each (the “Shares”) as specified in Exhibit B hereto, subject to all terms and conditions
set forth in the Plan, in the Company's Articles of Association (the “AoA”) and as provided herein;

 

NOW, THEREFORE, the Parties to this Agreement
hereby agree as follows:

 

		1.	Preamble and Definitions

 

		1.1.	The preamble to this agreement constitutes an integral part hereof.

 

		1.2.	Unless otherwise stated, all capitalized terms in this Award Agreement shall be interpreted as
defined in the Plan.

 

		2.	Grant of Options

 

		2.1.	The Company hereby grants to the Participant the number of Options as set forth in Exhibit B hereto,
each Option shall be exercisable for one Share, upon payment of the Exercise Price as set forth in Exhibit B, subject to the terms
and the conditions as set forth in the Plan, and as provided herein.

 

		2.2.	The Participant is aware that the Company intends in the future to issue additional shares and
to grant additional options to various entities and individuals, as the Company in its sole discretion shall determine.

 

		3.	Period of Option and Conditions of Exercise

 

		3.1.	The terms of the Award shall commence on the Date of Grant and terminate at the Expiration Date,
or at the time at which the Option expires pursuant to the terms of the Plan or pursuant to this Award Agreement unless determined
otherwise in this Award Agreement.

 

		3.2.	Options may be exercised only to purchase whole Shares, and in no case may a fraction of a Share
be purchased.

 

		4.	Vesting; Period of Exercise

 

		4.1.	Subject to the provisions of the Plan, Options shall vest and become exercisable according to the
Vesting Period set forth in Exhibit B hereto. any period in which the Participant shall not be employed by the Group,
or in which the Participant shall have taken an unpaid leave of absence (excluding a leave for military reserves duty or the mandatory
maternity leave determined by law), or in which the Participant shall cease to serve as Employee, Director or Consultant of the
Group, shall not be included in the Vesting Period.

 

    	 	-10-	 

     

    

 

		4.2.	All unexercised Options granted to the Participant shall terminate and shall no longer be exercisable
on the Expiration Date, as described in Section 8.4 of the Plan.

 

		5.	Exercise of Options

 

		5.1.	Once the Options may be exercised (subject to the provisions hereto) and all other conditions for
exercising the Options are fulfilled, the Participant is entitled to notify the Company and/or to any third party designated by
the Company, by delivering a “Notice of Exercise” (in the form attached hereto as Exhibit C), that he
or she wishes to exercise a certain number of Options (but not more than the number of Options that have become exercisable until
such date). The Notice of Exercise shall be accompanied by payment for the Shares, equal to the product of (x) the number of Options
the Participant wishes to exercise, and (y) the Exercise Price.

 

		5.2.	In order for the Company to issue Shares upon the exercise of any of the Options, the Participant
hereby agrees to sign any and all documents required by any applicable law and/or by the Board and/or by the Committee and/or according
to the AoA and the Plan.

 

		5.3.	Pursuant to Section 6.2 of the Plan and as a condition precedent to the Company’s issuance
of Options and Exercised Shares under the Plan, the Participant is required to execute and deliver to the Company an irrevocable
proxy and power of attorney in the form attached hereto as Exhibit D, appointing as his/her proxy, attorney and agent
the Chairman of the Board or any other person designated by the Committee formed by the Board for such purpose. The Exercised Shares
will be voted in the same proportion as the result of the shareholders vote, in respect of which such Exercised Shares are being
cast. Such proxy shall terminate and be of no further force and effect upon the consummation of an IPO.

 

		5.4.	The Company shall not be obligated to issue any Shares upon the exercise of an Option if such issuance,
in the opinion of the Company, might constitute a violation by the Company of any provision of law.

 

		5.5.	Pursuant to Section 9 of the Plan, Options may be exercised after the date of Termination of Service
during an additional period of time following the date of such termination. In such event Participant shall be allowed to exercise
only the amount of Options that are vested as such amount may be at the time of such termination according to the Vesting Period,
specified in Exhibit B. However, if the Termination of Service is for Cause (as defined in the Plan), any and all Options granted
to such Participant shall immediately expire upon written notice by the Company to the Participant.

 

		6.	Limitations of Transfer

 

		6.1.	The Options are not transferable, except for transfer by will or by laws of descent or distribution.
In addition, the rights to sell Exercised Shares are subject to limitations as provided by Section 11 of the Plan, and as imposed
by applicable law (including the AoA), and to any request made by the Company or its underwriters, if applicable (including a lock-up
period), from time to time, or upon a specific occurrence, and the Participant hereby unconditionally agrees and accepts any such
limitations. For the avoidance of doubt the Participant may not sell, assign, convey, transfer by gift, encumber, pledge, hypothecate
or otherwise transfer or dispose any of the Options, except as specifically allowed under the Plan.

 

    	 	-11-	 

     

    

 

		6.2.	With respect to any 102 Award, subject to the provisions of Section 102 of the Ordinance and the
102 Rules promulgated thereunder, the Participant shall not sell or release from trust any Share received upon the exercise of
an 102 Award and/or any share received subsequently following any realization of rights, including without limitation, bonus shares,
until the lapse of the Trust Period required under Section 102 of the Ordinance. Notwithstanding the above, if any such sale or
release occurs during the Trust Period, the sanctions under Section 102 of the Ordinance and the 102 Rules promulgated thereunder
shall apply to and shall be borne by such Participant.

 

		6.3.	With respect to 102(c) Award, if the Participant’s employment or service is terminated for
any reason, such Participant shall provide the Group, to its full satisfaction, with a guarantee or collateral securing the future
payment of all Taxes required to be paid upon the sale of the Exercised Shares received upon exercise of such 102(c) Award, all
in accordance with the provisions of Section 102 of the Ordinance and the 102 Rules promulgated thereunder.

 

		6.4.	The Participant acknowledges that in the event Company's shares shall be registered for trading
in any public market, the Participant’s right to sell Shares may be subject to limitations (including a lock-up period),
as will be requested by the Company or its underwriters, and the Participant unconditionally agrees and accepts any such limitations.

 

		6.5.	The Participant acknowledges that in order to enforce the above restriction, the Company may impose
stop-transfer instructions with respect to securities the exercised Shares.

 

		6.6.	The Participant agrees that the Company shall have the authority to endorse upon the certificate
or certificates representing the Participant's Shares such legends referring to the foregoing restrictions, and any other applicable
restrictions as it may deem appropriate (which do not violate the Participant's rights according to this Award Agreement).

 

		7.	Taxes; Indemnification

 

		7.1	All Tax consequences and obligations arising from the grant, vesting, or exercise of any Award
(as applicable), or the subsequent disposition of, Shares subject thereto or from any other event or act (of the Group or of the
Participant) hereunder, shall be borne solely by the Participant, and the Participant shall indemnify the Group and/or the Trustee
and hold them harmless against and from any and all liability for any such Tax, including without limitation, monetary liabilities
relating to the necessity to withhold, or to have withheld, any such Tax payment from any payment made to the Participant. Notwithstanding
the above, the Company and Trustee’s obligation to deliver Shares upon the exercise or vesting of any Awards granted under
the Plan shall be subject to the satisfaction of all applicable Tax withholding requirements as governed by Applicable Laws or
practice. No Shares will be delivered to the Participant or other person pursuant to the exercise of the Award until the Participant
or other person has made arrangements acceptable to the Company for the satisfaction of applicable income tax and employment tax
withholding obligations, including, without limitation, such other tax or benefit obligations incident to the receipt of Shares
(whether such tax or benefit is the obligation of the Participant or the employer or the Company). Upon exercise of the Award,
the Company or the Participant’s employer may offset or withhold (from any amount owed by the Company or the Participant’s
employer to the Participant) or collect from the Participant or other person an amount sufficient to satisfy such tax obligations.

 

    	 	-12-	 

     

    

 

		7.2.	The Participant will not be entitled to receive from the Company and/or the Trustee any Shares
allocated or issued upon the exercise of Options prior to the full payments of the Participant’s tax liabilities arising
from Options which were granted to him and/or Shares issued upon the exercise of Options. For the avoidance of doubt, neither the
Group nor the Trustee shall be required to deliver any Shares (or Share certificate) to a Participant until all required payments
have been fully made or secured.

 

		7.3.	The receipt of the Options and the acquisition of the Participant's Shares to be issued upon the
exercise of the Options may result in tax consequences. THE PARTICIPANT IS ADVISED TO CONSULT A TAX ADVISER WITH RESPECT TO THE
TAX CONSEQUENCES OF RECEIVING OR EXERCISING THIS OPTION OR DISPOSING OF THE SHARES.

 

		7.4.	With respect to 102 Award, the Participant hereby acknowledges that he or she is familiar with
the provisions of Section 102 and the regulations and rules promulgated thereunder, including without limitations the type of Option
granted hereunder and the tax implications applicable to such grant. The Participant accepts the provisions of the trust agreement
signed between the Company and the Trustee, attached as Exhibit E hereto, and agrees to be bound by its terms.

 

		8.	Miscellaneous

 

		8.1.	No Obligation to Exercise Options. The grant and acceptance of these Options imposes no
obligation on the Participant to exercise it.

 

		8.2.	Confidentiality. The Participant shall regard the information in this Award Agreement and
its exhibits attached hereto as confidential information and the Participant shall not reveal its contents to anyone except when
required by law or for the purpose of gaining legal or tax advice.

 

		8.3.	The Participant acknowledges that: (i) in granting the Participant the Option under this Award
Agreement the Company has taken into account Participant's non-competition and confidentiality obligations (including without limitation
such obligations specified under the employment or service agreement with the Company); (ii) that the Options issued hereby shall
be deemed to include, inter alia, proper compensation for the prospect of the Participant's compliance with such non-competition
and confidentiality obligations; and (iii) the aforementioned non-competition and confidentiality obligations are fundamental elements
of the bargain between the parties.

 

		8.4.	Continuation of Employment or Service. Neither the Plan nor the Award Agreement with the
Participant shall impose any obligation on the Company or an affiliate thereof, to continue any Participant in its employ or service,
and nothing in the Plan or in any Award granted pursuant thereto shall confer upon any Participant any right to continue in the
employ or service of the Company or an affiliate thereof or restrict the right of the Company or an affiliate thereof to terminate
such employment or service at any time.

 

		8.5.	Entire Agreement. Subject to the provisions of the Plan, this Award Agreement, together
with the exhibits hereto, constitute the entire agreement between the Participant and the Company with respect to Options granted
hereunder, and supersedes all prior agreements, understandings and arrangements, oral or written, between the Participant and the
Company with respect to the subject matter hereof.

 

    	 	-13-	 

     

    

 

		8.6.	Failure to Enforce - Not a Waiver. The failure of any party to enforce at any time any provisions
of this Award Agreement or the Plan shall in no way be construed to be a waiver of such provision or of any other provision hereof.

 

		8.7.	Provisions of the Plan. The Options provided for herein are granted pursuant to the Plan
and said Options and this Award Agreement are in all respects governed by the Plan and subject to all of the terms and provisions
of the Plan.

 

		8.8.	Interpretation. Any interpretation of this Award Agreement will be made in accordance with
the Plan but in the event there is any contradiction between the provisions of this Award Agreement and the Plan, the provisions
of the Award Agreement will prevail. In the event there is any contradiction between the provisions of this Award Agreement and
the provisions of any of the Participant's employment or service agreement with the Group, the provisions of the Award Agreement
will prevail.

 

		8.9.	Binding Effect. The Plan and this Award Agreement shall be binding upon the heirs, executors,
administrators and successors of the parties hereof.

 

		8.10.	Notices. All notices or other communications given or made hereunder shall be in writing
and shall be delivered or mailed by registered mail or delivered by email or facsimile with written confirmation of receipt to
the Participant and/or to the Company at the addresses shown on the letterhead above, or at such other place as the Company may
designate by written notice to the Participant. The Participant is responsible for notifying the Company in writing of any change
in the Participant’s address, and the Company shall be deemed to have complied with any obligation to provide the Participant
with notice by sending such notice to the address indicated below

 

IN WITNESS WHEREOF, the Parties hereto
have duly executed this Award Agreement as of the date first above written.

 

	Company’s Signature:	InMode Ltd. (No. 514073618)	 
	 	 	 
	Name:	Moshe Mizrahy	 
	 	 	 
	Position:	CEO	 
	 	 	 
	Signature:	 	 

 

    	 	-14-	 

     

    

 

I, the undersigned understand that the
Plan and this Award Agreement, constitute the entire agreement between me and the Company with respect to the Options granted
hereunder and supersede in their entirety all prior undertakings and agreements of the Company and myself, both written and
oral, with respect to the Options granted hereunder (including the shares underlying such Options). I have reviewed the Plan and
this Award Agreement in their entirety, and had an opportunity to obtain the advice of counsel prior to executing this Award Agreement
and fully understand all provisions of this Award Agreement.

 

I hereby approve and agree to all the aforesaid
in this Award Agreement and the Trust Agreement and I declare that I am familiar with the provisions of Section 102 and the Capital
Gains Route. I hereby undertake not to sell or transfer the Options and/or the Exercised Shares prior to the lapse of the Trust
Period, unless I pay all taxes, which may arise in connection with such sale and/or transfer.

 

	 	 
	 	 
	 	Participant’s Signature

 

Attachments:

 

Exhibit A: InMode Ltd.
2018 Incentive Plan.

 

Exhibit B: Terms of the
Award.

 

Exhibit C: Form of Notice
of Exercise.

 

Exhibit D: Irrevocable
Proxy.

 

Exhibit E: Trust Agreement.

 

    	 	-15-	 

     

    

 

EXHIBIT B

TERMS OF THE OPTION

 

	1.	Name of the Participant:	[_______________].
	 	 	 
	2.	Date of Grant:	[_______________].
	 	 	 
	3.	Type of Grant:	102 Award (Capital Gain Option). 
	 	 	 
	4.	Number of Awards granted:	[________] each to purchase one Ordinary Share.
	 	 	 
	5.	Vesting Commencement Date:	[________________]
	 	 	 
	6.	Vesting Schedule:	___________________________.
	 	 	 
	7.	Exercise Price (per share):	USD ________.
	 	 	 
	8.	Expiration Date:	As determined in the Plan.

 

	 	 	 
	Participant	 	Company

 

    	 	-16-	 

     

    

 

EXHIBIT C

FORM
OF EXERCISE NOTICE

 

To:

 

	Altshuler Shaham Benefits Ltd.	InMode Ltd. 

 

Dear Sirs,

 

Re: InMode Ltd. (the “Company”)

 

I am the beneficiary of ______ options
(the “Options”), which are exercisable into Ordinary Shares of the Company, par value of NIS 0.01 each (the
“Shares”) that were granted to you on my behalf and are held by you according to Section 102 of the Income Tax
Ordinance, pursuant to the Trust Agreement that was signed between yourself and the Company, and according to the “InMode
Ltd. 2018 Incentive Plan”.

 

I know that the vesting schedule of the
Options is as detailed in the “Award Agreement”, which was signed by me on _______.

 

I would like to exercise ____ Options into
___ Shares.

 

	 	Yours Truly,
	 	 	 
	 	Name:	 
	 	 	 
	 	Signature:	 

 

	 	 	 

 

Approval of InMode Ltd.

 

We hereby confirm that _________ is entitled
to exercise ___ Options into ___ Shares (as defined above).

 

We hereby confirm that the exercise price
of the Options in the amount of NIS _____ (NIS ___ per Option) was paid to us directly by Mr. / Ms. _______.

 

Enclosed is a share certificate of ____
Shares, which derived from the exercise of the Options.

 

	 	 
	 	InMode Ltd. 

 

    	 	-17-	 

     

    

 

EXHIBIT D

IRREVOCABLE PROXY

 

I, the undersigned, hereby irrevocably
appoint the Chairman of the Board of InMode Ltd., an Israeli company (the "Board" and the “Company”,
respectively) or any other person designated by the Committee formed by the Board for such purpose (with the power of delegation)
as my proxy (the “Agent”) to represent me and to vote in my name and on my behalf at all annual or special meetings
of the shareholders of the Company (including class meetings) in the same way as the result of the Board's vote in respect of the
issue being voted upon, to sign on my behalf any written consents of shareholders of the Company, and to receive all notices with
respect to the above, with respect to the number of shares of all classes of the Company registered in my name at any time and
from time to time. Until the consummation of the Company’s Initial Public Offering (the “IPO”), any and
all voting rights the undersigned may have with respect to the shares of the Company shall be exercised exclusively by this Proxy
and Power of Attorney.

 

I, the undersigned, hereby irrevocably
authorize and grant power of attorney to the Agent, in respect of any shares of all classes of the Company registered in my name
at any time and from time to time, until the consummation of the IPO, to exercise every right, power and authority with respect
to the shares and to sign in my name and on my behalf any agreement, document and/or instrument, and any affidavit or approval
with respect to the shares or to the rights which they represent in the Company in as much as the Agent shall deem it necessary
or desirable to do so. In addition and without derogating from the generality of the foregoing, I hereby irrevocably authorize
and grant power of attorney to the Agent to sign any agreement, document and/or instrument as aforesaid and any affidavit or approval
and/or to make and execute any undertaking in my name and on my behalf if the Proxy shall, at his sole discretion, deem it is necessary
or desirable for purposes of any placement of securities of the Company, whether private or public (including lock-up arrangements
and undertakings), for purposes of a merger of the Company with another entity, whether the Company is the surviving entity or
not, for purposes of any reorganization or recapitalization of the Company or for purposes of any purchase or sale of assets or
shares of the Company.

 

I, the undersigned, hereby further undertake
to cooperate with the Agent, and to sign, if so requested by the Agent any additional document and/or instrument which the Agent
might, from time to time, consider necessary or desirable in order to perform this Proxy and Power of Attorney.

 

This Proxy and Power of Attorney shall
expire automatically and be of no further force or effect immediately upon the consummation of the IPO, and shall be irrevocable
until such time. The expiration of this Proxy and Power of Attorney shall in no manner effect the validity of any action taken
hereunder or of any agreement, document, instrument, affidavit or approval which has been signed or given as aforesaid prior to
the expiration hereof and in accordance herewith.

 

The proxy granted hereby: (i) is a special
proxy and power of attorney coupled with an interest and is irrevocable; (ii) shall survive the bankruptcy, death, adjudication
of incompetence or insanity or dissolution of the undersigned and its transferees, (iii) shall survive the transfer of the Shares,
until duly replaced by a similar Proxy executed by the transferee; and (iv) is perpetual except that it shall terminate upon the
effective date of an IPO.

 

IN WITNESS WHEREOF, I have executed
this Irrevocable Proxy and Power of Attorney on the __ day of _________, 201_.

 

	 	Participant:	 
	 	 	 
	 	Name: 	 
	 	 	 
	 	Signature: 	 

 

    	 	-18-Exhibit 10.8

 

Investment
by

 

Guangzhou
Sino-Israel Bio-Industry Investment

 

Fund
(LLP)

 

In

 

Invasix
Ltd.

 

Closing
Date: Jan. 11, 2017

 

     

     

    

  

Table of Contents

 

	#	 	Exhibit No.	 	Title
	 	 	 	 	 
	1	 	-	 	Equity Joint Venture Agreement
	 	 	 	 	 
	2	 	19.1.3	 	Business License
	 	 	 	 	 
	3	 	19.1.7	 	Amended and Restated Articles of Association of the Company
	 	 	 	 	 
	4	 	19.1.9	 	Indemnification Agreement
	 	 	 	 	 
	5	 	19.1.11	 	License Agreement
	 	 	 	 	 
	6	 	19.1.12	 	Resolution of the Company Approving the Agreement
	 	 	 	 	 
	7	 	19.2.1	 	Non-competition Agreement
	 	 	 	 	 
	8	 	19.2.2	 	Resolution of Invasix Approving the Agreement
	 	 	 	 	 
	9	 	19.2.3	 	Bring-down Certificate of CEO of Invasix
	 	 	 	 	 
	10	 	19.2.4	 	Invasix’s Product Liability Insurance
	 	 	 	 	 
	11	 	19.2.5	 	Consent of Invasix for Disposition of Company Shares of Investor
	 	 	 	 	 
	12	 	19.2.6	 	Proxy Signed by Company Directors Appointed on behalf of Invasix
	 	 	 	 	 
	13	 	19.3.2	 	Resolution of Investor Approving the Agreement
	 	 	 	 	 
	14	 	19.3.3	 	Consent of Investor for Disposition of Company Shares by Invasix
	 	 	 	 	 
	15	 	19.3.4	 	Proxy Signed by Company Directors Appointed on behalf of Investor
	 	 	 	 	 
	16	 	23	 	Invasix Disclosure Schedule
	 	 	 	 	 
	17	 	23.1.3.1	 	A List of Invasix’s Intellectual Property
	 	 	 	 	 
	18	 	33.2	 	Conversion Formula

 

     

     

    

  

Equity
Joint Venture Agreement

 

     

     

    

 

Guangzhou
Sino-Israel Bio-Industry Investment

Fund (LLP)

 

And

 

Invasix
Ltd.

 

Contract
for the 

 

Establishment
of Guangzhou InMode Medical

Technology
Ltd.

 

    	1

     

    

 

Chapter 1

 

General Provisions

 

Animated by the purpose of facilitating
the cooperation in the investment in the Bio-industry by the parties to this contract, in accordance with the “Law of the
People’s Republic of China on Chinese-Foreign Equity Joint Ventures”, its detailed rules and other relevant laws and
regulations of China, based on the principle of equality and mutual benefits, through friendly and candid consultation, all parties
agree to jointly form, effective as of Closing, a Chinese Equity Joint Venture company in the Guangzhou Development District (the
 “GDD”)/Bio-Island which will be engaged in the territory of the mainland of People’s Republic of China,
Hong Kong, Taiwan and Macau, in the (i) importation, distribution, marketing and sale of devices and certain products manufactured
by Party B, and (ii) development, performance of clinical trials, design and manufacturing of devices and products, distribution,
marketing and sale, support and provision of warranty based on Party B’s technology. In this respect, the above parties
hereof unanimously agree to conclude this Agreement for the compliance of all parties.

 

Chapter 2

 

Equity Joint Venture Parties

 

		1.	The Equity Joint Venture Parties to this Agreement are:

 

		Party A:	Guangzhou
                                         Sino-Israel Bio-Industry Investment Fund (LLP), acting by its general partner Guangzhou
                                         Elim Biotech Industrial Venture Capital Management Company (“GIBF”),

 

whose legal address is at: 6/F No.6 of Luoxuansi
Road, International Bio-island, Guangzhou

 

Legal Representative: Yehoshua Jacob Gleitman,
of Israeli nationality, with Israeli passport # 29012531,

 

title: GIBF Chairman,

 

e-mail address: (shuki@gibf-bio.com)

 

(“Party A”)

 

    	2

     

    

   

		Party B:	Invasix Ltd., Registered nu# 51-407361-8 whose legal address
is at: Tavor Building, Sha’arYokneam, P.O. Box 533, Yokneam 20692, Israel

 

Legal Representative: Mr. Moshe Mizrahy, of Israeli nationality,
withIsraeli passport #39008840

 

title: Invasix Chairman and CEO

 

e-mail address:(moshem@invasix.com)

 

(“Party B”)

 

		Party C:	Guangzhou InMode Medical Technology Ltd.

 

(a company in formation) (InMode-China) whose legal address
will be at: Unit 103-1 1/F, No.6 Luoxuan 3rd., Bio-Island, Guangzhou, and its Legal Representative: Moshe Mizrahy, of Israeli
nationality, with passport # 39008840

 

title: InMode-China Chairman

 

e-mail address: (moshem@invasix.com)

 

(“Company”).

 

    	3

     

    

 

Each of the “Party A”
and “Party B” shall be referred to hereinafter, as a “Party” or a “Shareholder”
and together, the “Parties” or the “Shareholders”).

 

		2.	All Parties (including the Company) shall strictly comply
with all provisions of this Agreement, fulfil all obligations in this Agreement, and enjoy all rights and interests in this Agreement.

 

Chapter 3

 

Definitions

 

		3.	In this Agreement, the following terms or jargons shall
have the meanings as set out below, unless the context otherwise requires:

 

		(1)	“China”
                                         or “PRC” is the abbreviation of the People’s Republic of China.

 

		(2)	“Chinese Law” shall mean all laws, decrees,
rules and regulations, standard documents, judicial interpretation, and other universal binding resolutions and orders formulated
and promulgated by all levels of legislative institutions, government and its comprising departments, Supreme People’s Court,
Supreme People’s Procuratorate, excluding internal documents not to be disclosed to external parties.

 

		(3)	“This Agreement” shall mean the content
prescribed in this document, that is the Agreement on the equity joint venture and management of the Company and its appendices,
after the examination and approval from the relevant authorities in China and deemed effective, including all written amendments,
supplements or eliminations agreed upon and after examined and approved by all Parties (including the Company).

 

    	4

     

    

  

		(4)	‘‘Equity Joint Venture Company”
shall mean the Company, that at Closing will be transformed from a WFOE into a Chinese foreign equity joint venture enterprise
referred to as in Section 5 of this Agreement, held jointly by Party A and by Party B, and operated by the Parties pursuant to
the provisions of this Agreement.

 

		(5)	“Amended and Restated
Articles of Association” shall mean the Amended and Restated Articles of Association as concluded by all Parties in
accordance with this Agreement (and shall replace the first articles of association that have been filed by Party B upon incorporation
of the Company and reflect its transformation from a wholly foreign owned enterprise to an Equity Joint Venture Company), and
as examined and approved by the relevant authorities, including all written amendments, supplements or eliminations agreed by
all Parties and examined and approved.

 

		(6)	“Working day” shall mean any day which
is not Friday, Sunday or Saturday or a statutory holiday in either China or Israel.

 

		(7)	“United States Dollar” shall mean the
legal currency of the United States of America.

 

		(8)	“Territory” shall mean the territory
of People’s Republic of China, Hong Kong, Taiwan and Macau.

 

		(9)	“Party B Products” shall mean all devices
produced by Party B or InMode Ltd., unless otherwise specifically stated in this Agreement.

 

		(10)	“InMode Ltd.” – an Israeli
established company, fully owned by Party B.

 

		(11)	“WFOE” shall mean the Chinese ‘foreign
wholly owned enterprise’ referred to as in Section 5 of this Agreement established prior to the date hereof by Party B,
pursuant to Chinese Law.

 

    	5

     

    

  

		(12)	“Business License” shall mean a business
license issued to the Company, pursuant to Chinese Law, following the date of incorporation of the Company and prior to Closing,
by the company registration authority of China.

 

		(13)	“Company” shall mean initially the WFOE,
which at the Closing will be transformed into an Equity Joint Venture Company.

 

		(14)	“Equity Rights” or “Company
Equity Rights” shall mean the Company’s share capital or any other equity interest as stipulated under Chinese
Law.

 

		(15)	“Intellectual Property” shall mean all
intellectual property belonging to Party B or to Inmode Ltd. (including, directly and indirectly, any and all future developments
and rights), except with respect to the intellectual property of the BodyTite platform.

 

		(16)	“BodyTite Platform” shall mean the BodyTite
platform produced by Party B which intellectual property rights are not part of the License described in Section 11.2 of this
Agreement.

 

		4.	Interpretations:

 

The interpretations of the provisions in
this Agreement, unless the context otherwise requires, shall follow the rules herein:

 

		(1)	Words importing the singular include the plural and vice-versa;

 

		(2)	Words importing a gender include any gender and the neutral.

 

    	6

     

    

  

		(3)	In the event that the date of deadline stipulated in this
Agreement is not a Working Day, the deadline shall be automatically extended to the next Working Day.

 

		(4)	All amounts of money referred to in this Agreement, unless
otherwise specified, are quoted in Renminbi.

 

		(5)	Any responsibilities in this Agreement, if specified as
undertaken by one Party (including the Company), that Party shall take up all associated responsibilities and individual responsibilities.

 

		(6)	Headings of clauses and chapters are for the sake of convenience
alone and shall not be relied upon in construing this Agreement.

 

		(7)	The Appendices attached to this Agreement constitute an
integral part hereof.

 

		(8)	Drafts of this Agreement shall not be admissible as evidence
before any judicial or quasi-judicial entity including any arbitrators or adjudicator, and shall not be used in the interpretation
of this Agreement nor of any of its conditions.

 

Chapter 4

 

Establishment of Equity Joint Venture
Company

 

		5.	In accordance with the “Law of the People’s
Republic of China on Wholly Foreign-Owned Enterprises” and the “Law of the People’s Republic of China on Chinese-Foreign
Equity Joint Ventures”, and their respective detailed rules and other related laws and regulations of China, Party B has
established, prior to the date hereof, the Company as a WFOE, which the Parties will transform, to facilitate the investment contemplated
hereunder, to a Chinese Equity Joint Venture Company - in the GDD/Bio-Island as set out below:

 

Chinese name:

 

English name: “Guangzhou InMode Medical
Technology Ltd.”, or a similar name to be agreed upon by the Parties.

 

Residential Address: Unit 103-1 1/F, No.6
Luoxuan 3rd., Bio-Island, GuangzhouGuangzhou, Guangdong, China.

 

    	7

     

    

   

		6.	The Company has the status of a legal person and is subject
to the jurisdiction and protection of Chinese Law. All activities of the Company shall abide by the Chinese Law and related rules
and regulations.

 

		7.	Effective as of Closing, the Company is an Equity Joint
Venture Enterprise between the Chinese and foreign Parties with the organization structure of Limited Liability Company. The Company
is liable to all responsibilities against external parties as limited by the total assets of the Company. On Closing, each of
the Parties shall take up limited liability of the Company according to its respective investment in the equity joint venture.
The Parties shall share the profit, undertake the risk and loss as stipulated in the regulations of this Agreement, in accordance
with the pro-rated holdings of each of the Parties in the Company (subject to the provisions of Section 32 hereunder). Between
the Parties and the Company, each Party shall not mutually undertake any associated responsibilities of the other Party and shall
not bind the other Party.

 

Chapter 5

 

Purpose of Equity Joint Venture, Joint
Venture Project and Scope of Business

 

		8.	Purpose of the Company:

 

		8.1	The Company will be engaged in the importation into the
Territory, marketing and sale therein, of all party b products.

 

		8.2	Furthermore, the Company shall have the right, effective
as of the Closing, to independently develop, design and manufacture products and devices that are based on the Party B’s
intellectual property (as defined hereunder) and technology and to operate a manufacturing line (or lines) for said purpose, do
clinical trials and regulatory activities, sell and market, distribute, support and provide warranty to said products.

 

    	8

     

    

 

		8.3	The Company will be based in the gdd/bio-island in Guangzhou,
China.

 

		8.4	The Company’s business strategy is set out in a business
plan, mutually agreed by the party a and party b and which includes a five (5) year model. The business plan shall be reviewed
by the Parties at least annually. The business plan will cover the following activities of the Company: incorporation, regulatory
approvals, market penetration, constructing of manufacturing facilities, production, product adaptation, marketing, maintenance
and support, etc.

 

Chapter 6

 

WFOE’s Registered Capital, Total
Investment, Registered Capital and the

Transaction

 

		9.	WFOE’s Registered Capital

 

		9.1.	Prior to the date hereof, the Company has been formed by
Party B as a WFOE, with a total investment in the Company’s registered capital of 100,000 RMB.

 

		9.2.	Party B has granted, on the date hereof, to the Company
the Party B License (as further described in Section 12.2 hereunder).

 

		10.	Registered Capital of the Equity Joint Venture Company
at the Closing

 

The Company intends to increase its registered
capital from 100,000 RMB to 196,078 RMB. Party A agrees to contribute 50,000,000 RMB, among which 49,903,922 RMB shall be invested
as capital reserve of the Company, to subscribe for the increased registered capital in an amount of 96,078 RMB. At the Closing
the subscribed registered capital of the Company shall be 196,078 RMB.

 

    	9

     

    

 

	 	 	 	 	Amount of	 	 	 	 	 	 
	 	 	Deadline for	 	Capital	 	 	Ratio for	 	 	Form of
	Shareholder	 	Capital	 	Contribution	 	 	Capital	 	 	Capital
	Name	 	Contribution	 	in RMB	 	 	Contribution	 	 	Contribution
	 	 	 	 	 	 	 	 	 	 	 
	Party B	 	Upon incorporation of the WFOE	 	 	100,000	 	 	 	51	%	 	Cash
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Party A	 	At Closing	 	 	96,078	 	 	 	49	%	 	Cash
	 	 	 	 	 	 	 	 	 	 	 	 	 
	TOTAL	 	At Closing	 	 	196,078	 	 	 	100	%	 	Cash

 

		11.	Total Investment Amount of the Equity Joint Venture Company
after the Closing

 

The total investment amount of the Equity
Joint Venture Company after the Closing shall be RMB 280,000.

 

		12.	The Transaction

 

		12.1.	Advancing of Funds

 

		12.1.1.	Party A hereby
                                         irrevocably agrees to pay to the Company, at the Closing, by way of a capital contribution,
                                         a total amount in cash of 96,078RMB and be issued with 49% of the registered capital
                                         (after the issuance of the Equity Rights to Party A) of the Company (“Initial
                                         Contribution”).

 

		12.1.2.	At the Closing the Company will transform from a WFOE to
an Equity Joint Venture Company, and the holdings in the Company shall be as follows: Party B will hold 51% of Equity Rights of
the Company and Party A will be issued with 49% of the Equity Rights of the Company.

 

    	10

     

    

 

		12.1.3.	Additionally,
                                         after the Closing, Party A shall be required to provide funding to the Company of an
                                         additional aggregate amount, in cash, of 49,903,922 RMB, upon the achievement of such
                                         targets and on such dates as further described in Exhibit 11.1.3 hereto
                                         (said amounts, together with the Party A’s Initial Contribution – the “Contribution
                                         Amount” and “Milestones” or “Milestone Payments”,
                                         respectively).The total Contribution Amount by Party A shall be 50,000,000 RMB.

 

		12.1.4.	Upon fulfillment
                                         of each Milestone, the chairperson of the Board of the Company will submit a call notice
                                         to the Party A (“Call Notice”), to make payment of the relevant
                                         Milestone Payment.

 

		12.1.5.	Party A will
                                         make payment of the relevant Milestone Payment (except for the Closing milestone) within
                                         ninety (90) days of receipt of the Call Notice (“Milestone Payment Period”).
                                         If however, any Milestone Payment is not paid to the Company within the Milestone Payment
                                         Period, despite the relevant Milestone having been achieved, Party A will be in a payment
                                         default which will result in the following (“Payment Default”):

 

		12.1.5.1.	Subject
                                         to the approval of relevant authority, Party B shall hold, at no cost, such percentage
                                         of Company Equity Rights as would dilute Party A’s equity holding in the Company
                                         by the same ratio as the ratio between the amount in Payment Default and the Contribution
                                         Amount (e.g. if the Payment Default is with regard to 5,000,000 RMB, representing 10%
                                         of the Contribution Amount, Party A’s equity will be diluted by 10%, from 49% to
                                         44.1%) (“Dilution Penalty”). The Dilution Penalty of Party A’s
                                         Equity Rights upon an event of a Payment Default will be achieved by way of a reduction
                                         of the Company’s registered capital, and shall enter into effect following the
                                         90-day curing period described in Section 12.1.6 below. The Shareholders undertake, upon
                                         a Payment Default, to adopt all resolutions and execute any documents required under
                                         PRC Law that will result in the dilution of Party A, in accordance with the ratio described
                                         above.

 

    	11

     

    

 

		12.1.5.2.	Party A shall lose one Board seat (or two, if the amount
in Payment Default is more than 2/3 of the Contribution Amount); and

 

		12.1.5.3.	Party A shall not be entitled to the Protective Provisions (as set forth in Section 25.5
                                                                                        below), except for certain protective provisions as follows: 25.5.1(iii) (Guarantee any Indebtedness), 25.5.1(iv)
                                                                                        (inconsistent investment), 25.5.1(vi) (Related Parties Transactions), 25.5.1(vii) (Change of Business),
                                                                                        25.5.1(viii) (Assignment of Company IP), 25.5.1.(ix) (corporate strategic relationship) 25.5.1(xi)(Liquidation), 25.5.1(xiv)
                                                                                        (Dividend Payment), 25.5.1(xv) (Create Capital in Subsidiary) and 25.5.1(xvii) (Approve IPO).

 

		12.1.6.	Notwithstanding the aforesaid, if Party A cures the Payment
Default within ninety (90) days following the Milestone Payment Period, then Party A’s Dilution Penalty will not be exercised,
and all its rights will be fully reinstated (including with regard to nomination of Board members and with regard to all the Protective
Provisions listed in Section 25.5 below).

 

		12.1.7.	For any Party investment in cash, the date of receipt of
the amount (e.g. the Initial Contribution or any Milestone Payment) will be the date the remitted amount of the invested cash
is actually received at the designated bank account of the Company.

 

		12.1.8.	After each injection of the funding from the Parties to
the Company, the Company shall issue receipts to the respective Party within five (5) working days after the date of injection.
Within ten (10) working days after injections of any amount of equity investment to its capital, the Company shall employ a Chinese
registered accountant to verify the capital contribution and issue a capital investment auditing report. Within ten (10) working
days after receiving the capital investment auditing report from the Chinese registered accountant, the Company shall issue capital
investment certificates to the Parties respectively.

 

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		12.2.	License by Party B

 

		12.2.1.	In order
                                         to effectuate the transactions contemplated pursuant to this Agreement and the contemplated
                                         business activities of the Company, prior to Closing, Invasix will provide the Company
                                         with a License according to the License Agreement attached hereto as Exhibit 11.2.1
                                         (the “License Agreement”), which also include
                                         certain additional undertakings by Invasix and certain other provisions.

 

		12.2.2.	Following the Closing, Invasix will transfer to the Company
five (5) Inmode platforms (three (3) for clinical studies and two (2) for the CFDA lab testing).

 

		12.2.3.	To the extent applicable, the purchase of raw materials
by the Company will be made in the Territory, if so determined under the terms of the Bill of Materials, as shall be determined
by the Company.

 

		12.2.4.	Party B represents, warrants and covenants that to its
knowledge, the Intellectual Property shall be sufficient for the Company to conduct its business as contemplated by the business
plan and as contemplated by this Agreement and further represents that the Intellectual Property is sufficient for the production
of the Party B Devices.

  

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		12.3.	Services by Party A.

 

Party A undertakes to grant the Company
following the commencement of production of Party B Devices by the Company and the sale thereof within the Territory with certain
administrative and facilitating services in the Territory (including, facilitation of certain regulatory issues, workforce, administration,
and the like), for which Party A will be entitled to a management fee from the Company, at fair market value and on such terms
as shall be determined by the Company and the Party A, and on such date in which the Company is capable of making payment from
distributable earnings.

 

Chapter 7

 

Preparation work of the Company

 

		13.	All Parties shall endeavour in employing the most effective
and economic ways in actualizing the implementation and business mission and purpose of the Company. Other than complying with
the other provisions and stipulations of this Agreement, the Parties shall jointly pay close attention to the following work:

 

		(1)	the submission and handling of the approval process for
this Agreement and the Amended and Restated Articles of Association, handling the industry and commerce registration of the Company,
application and collection of Business License and other matters from the relevant responsible authorities;

 

		(2)	handling of the tax, foreign exchange registration and
application of tax, foreign exchange preferential treatment and other preferential treatment eligible for the Company from the
relevant tax, foreign exchange control authorities and other relevant authorities;

 

		(3)	assist the Company to plan the purchase, rent and leasing,
arrangement of the office for the Company, place of work and accommodation for the staff and workers and the essential office
facilities and equipment;

 

		(4)	assist the Company to open foreign exchange and Renminbi
account from banks engaged in the foreign exchange business in China;

 

    	14

     

    

 

		(5)	obtaining the approval from the relevant responsible government
authorities in the name of the Company, and obtaining all approval, consensus, reference for file, permits, and etc. on the operation
of the business activities and the rights to charge;

 

		(6)	handling any other matters as required for the transformation
of the Company to an Equity Joint Venture Company.

 

		14.	During the course of taking care of the obligations as
set above, the reasonable expenses generated shall entirely be shouldered by the Company.

 

Chapter 8

 

The Closing of the Transaction, Conditions
to Closing and Deliverables for the

Closing

 

		15.	Closing

 

The closing (the “Closing”),
shall be held at the offices of M. Firon & Co., Advocates, Hashlosha 2 St. Adgar 360 Tower, Tel-Aviv, at 10:00, on the third
(3rd) Working Day after the satisfaction of all conditions precedent thereto, or the waiver thereof by the Party A or Party B
or both (as applicable) (the “Closing Date”). The Parties intend for the Closing to take place on or prior
to December 31,2016, or at any other time as the Parties may mutually agree upon. If however, the Closing does not take place
until December 31, 2016, this Agreement will be subject to termination by either the Party A or Party B, upon delivery of a written
notice to the other; provided, however, that the right to so terminate this Agreement shall not be available to a Party whose
failure to fulfill any of its obligations under this Agreement has been the cause of the Closing not occurring on or before such
date. Upon delivery of such notice, this Agreement shall forthwith be terminated and will be of no further effect, at no expense
of any of the Parties, provided, however, that each Party hereto shall remain liable for any breaches of representations, warranties
or covenants of this Agreement prior to its termination.

  

    	15

     

    

  

		 16.
	Conditions to the Obligations of the Parties to consummate
the Closing

 

		16.1.	The obligations of the Parties to effect the Closing shall
be subject to the fulfillment at or prior to the Closing Date, of the following conditions (all or part of which may be waived
by Party A and Party B in writing):

 

		16.1.1.	The Company
                                         has obtained all required approvals, in forms and on terms reasonably acceptable to the
                                         Party A, which are necessary for the consummation of the transactions contemplated in
                                         this Agreement, including, without limitation, receipt of the Business License and the
                                         approval of the Ministry of Commerce (“MOFCOM”) of the PRC;

 

		16.1.2.	Delivery by Company on the Closing Date of all Company’s
Deliverables (as defined below);

 

		16.1.3.	No injunction judgment, order, decree, statute, law, ordinance,
rule or regulation, entered, enacted, promulgated, enforced or issued by any court or other competent authority or other similar
legal restraint or prohibition, preventing, enjoining, restraining, prohibiting or making illegal the consummation of the transaction
contemplated hereby shall be in effect.

 

		17.	Conditions to the Obligations of Party A to consummate
the Closing

 

		17.1.	The obligations of Party A to effect the Closing shall
be subject to the fulfillment at or prior to the Closing Date, of the following conditions (all or part of which may be waived
by Party B in writing):

 

		17.1.1.	The representations and warranties of Party B set forth
in this Agreement shall be true and correct in all respects as at the date of this Agreement and as at the Closing Date with the
same force and effect as though such representations and warranties had been made on and as at the Closing Date;

 

    	16

     

    

  

		17.1.2.	Delivery by Party B on the Closing Date of all the Party
B’s Deliverables (as defined below);

 

		17.1.3.	Party B shall have performed and complied with all obligations
and covenants required to be performed or complied with by it under this Agreement at or prior to the Closing Date, including
grant of the Party B License;

 

		17.1.4.	No material adverse change has occurred with regard to
the contemplated business of the Company.

 

		18.	Conditions to the Obligations of Party B to Consummate
the Closing

 

		18.1.	The obligations of Party B to effect the Closing shall
be subject to the fulfillment at or prior to the Closing Date, of the following conditions (all or part of which may be waived
by Party A in writing):

 

		18.1.1.	The representations and warranties of Party A set forth
in this Agreement shall be true and correct in all respects as of the date of this Agreement and as of the Closing Date with the
same force and effect as though such representations and warranties had been made on and as of the Closing Date;

 

		18.1.2.	Delivery by Party A on the Closing Date of all Party A’s
Deliverables (as defined below).

 

		18.1.3.	Party A shall have performed and complied with all obligations
and covenants required to be performed or complied with by it under this Agreement at or prior to the Closing Date, including
the payment of the Initial Contribution and the Closing Milestone amount.

  

    	17

     

    

 

		19.	Deliveries at Closing

 

		19.1.	At
                                         the Closing, Party B and Party A shall cause the Company to deliver to Party A and to
                                         Party B, the following (“Company Deliverables”):

 

		19.1.1.	A copy of any approvals required under Chinese Law, for
the change of status of the Company from a WFOE to an Equity Joint Venture Company;

 

		19.1.2.	the formal approval of this Agreement and the Amended and
Restated Articles of Association issued by the examination and approval authority;

 

		19.1.3.	a Business License, as required under Chinese Law, with
effect at Closing;

 

		19.1.4.	a valid Certificate of Approval for Establishment of Enterprise
with Foreign Investment in the PRC as required under Chinese Law, with effect at Closing;

 

		19.1.5.	a Tax Registration for Enterprises with Foreign Investment,
as required under Chinese Law, with effect at Closing;

 

		19.1.6.	a Foreign Exchange Certificate for Foreign Investment Enterprises,
as required under Chinese Law, with effect at Closing;

 

		19.1.7.	A
                                         copy of the Amended and Restated Articles of Association of the Company, in the form
                                         attached as Exhibit 19.1.7 hereto;

 

		19.1.8.	A directors’ and officers’ insurance policy
providing coverage in accordance with the terms set forth in Section 25.3.7 below, effective as of Closing;

 

    	18

     

    

 

		19.1.9.	A form of an indemnification agreement to all Company directors,
in accordance with the terms set forth in Section 25.3.7 below;

 

		19.1.10.	A copy of the set of policies and procedures, as shall
be agreed by Closing;

 

		19.1.11.	A form of a License Agreement, executed by the Company
and Party B, pursuant to Section 11.2.1.1 of this Agreement;

 

		19.1.12.	Company Board resolution in the form as required by PRC
laws, approving, among others, effective as of Closing, the Amended and Restated Articles of Association of the Company, the indemnification
agreements to the Directors, Company signatory rights and all agreements and transactions contemplated under this Agreement.

 

		19.2.	At
                                         the Closing, Party B shall deliver or cause to be delivered to Party A the following
                                         (“Party B’s Deliverables”):

 

		19.2.1.	Non-competition agreement, executed by the Company, Mr.
Moshe Mizrahi and Party B, in the form as shall be agreed by the Parties;

 

		19.2.2.	A copy of minutes or resolutions of Party B, in a form
satisfactory to the Party A, which shall not have been rescinded or modified, approving this Agreement and the transactions contemplated
herein;

 

		19.2.3.	Executed copy of a certificate of the chief executive officer
of Party B, in the form as shall be agreed by the Parties prior to Closing;

 

		19.2.4.	Copy of the Party B product liability insurance, in accordance
with the License Agreement.

 

    	19

     

    

 

		19.2.5.	An executed and undated form of consent of Party B for
the Disposition of Company Equity Rights by the Party A, in the form as shall be agreed by the Parties prior to Closing.

 

		19.2.6.	An executed and undated form of a proxy signed by each
of the Directors appointed on behalf of Party B to the Company’s Board, pursuant to Section 25.3.4.

 

		19.3.	At
                                         the Closing, Party A shall deliver or cause to be delivered to Party B, the following
                                         (“Party A’s Deliverables”):

 

		19.3.1.	Confirmation of the transfer of the Initial Contribution;

 

		19.3.2.	A copy of minutes or resolutions of Party A, in a form
satisfactory to Party B, which shall not have been rescinded or modified, approving this Agreement and the transactions contemplated
herein;

 

		19.3.3.	An executed and undated form of consent of Party A for
the Disposition of Company Equity Rights by Party B, in the form as shall be agreed by the Parties prior to Closing.

 

		19.3.4.	An executed and undated form of a proxy signed by each
of the Directors appointed on behalf of Party A to the Company’s Board, pursuant to Section 25.3.4.

 

    	20

     

    

  

		20.	All
                                         Transactions Simultaneous

 

No document or transaction described in sections 16 - 19 shall
be deemed to have been finally executed or delivered until all transactions, payments and documents contemplated in sections 16
- 19 are delivered or completed.

 

		21.	Further Action

 

The Parties (including the Company) shall execute such documents
and other instruments and take such further commercially reasonable actions as may be required or desirable to carry out the provisions
hereof and consummate the transactions contemplated by this Agreement.

 

Chapter 9 Representations
and Warranties

 

		22.	Representation
                                         and Warranties by the Parties and the Company

 

		22.1.	Each of the Shareholders and the Company covenants, represents
and warrants that, as of the date hereof and as of the Closing:

 

		22.2.	It has full power and authority to execute and deliver
this Agreement and any other agreement contemplated hereby, to carry out its obligations hereunder and to consummate the transactions
contemplated on its part. This Agreement has been duly executed and delivered by it and constitutes a legal, valid and binding
agreement, enforceable against him in accordance with its terms;

 

		22.3.	The execution and delivery of this Agreement by it, the
performance by it of its obligations hereunder and thereunder and the consummation by it of the transactions contemplated hereby
and thereby will not violate any provision of law, rule, regulation, order, writ, judgment, injunction, decree, determination
or award applicable to it, or any agreement to which it is a party or any undertaking it undertook towards any third party;

 

    	21

     

    

  

		22.4.	Compliance with the terms of this Agreement does not require,
except as referred to in this Agreement, the consent (or agreement) of any person who is not a party hereto, including any governmental
or judicial authority.

 

		22.5.	Except
                                         as set forth in Disclosure Schedule 23 [,
                                         for incorporation costs and costs associated with the actions to be taken by the Company
                                         under this Agreement, the Company has not incurred any costs and expenses and has not
                                         entered into any commitments resulting in any costs, expenses or liabilities.

 

		23.	Representations
                                         and Warranties by Party B

 

		23.1.	Party
                                         B covenants, warrants and represents that, as of the date hereof and as of the Closing
                                         except as provided in the Disclosure Schedule attached hereto as Schedule 23],
                                         and the bring down of these warranties and representations to be included in the
                                         CEO Certificate, that:

 

		23.1.1.	No
                                         Violation. The execution and delivery by Party B of this Agreement and any other
                                         transaction documents, the performance of its respective obligations thereunder and the
                                         consummation by it of the transactions contemplated hereby and thereby shall not (a)
                                         violate or result in violation of any applicable laws, or (b) require the consent, waiver,
                                         approval, license or authorization of or any filing with any person, municipality, governmental
                                         or quasi-governmental authority in Israel and any other territory in which Party B conducts
                                         its business (other than the Territory) (“Required
                                         Approvals”), or (c) violate, result
                                         (with or without notice or the passage of time, or both) in a breach of or give rise
                                         to the right to accelerate, terminate or cancel any obligation under or constitute (with
                                         or without notice or the passage of time, or both) a default under, any of the terms
                                         or provisions of any charter, certificate of incorporation, articles of association,
                                         bylaw, agreement, indenture, mortgage, or encumbrances by which Party B or Inmode Ltd.,
                                         is bound, nor will it result in the suspension, revocation, impairment, forfeiture, or
                                         non-renewal of any permit, authorization or license
                                         applicable to Party B’s businesses or operations.

 

    	22

     

    

  

		23.1.2.	Litigation.
                                         Except as set out in the Disclosure Schedule, there is no action, claim, suit, proceeding
                                         or investigation (including employee related disputes) pending, or currently threatened,
                                         against Party B or any subsidiary thereof, or affecting the Company or Party B or the
                                         assets of any of them, or the Company’s, or the Shareholders’ ability to
                                         perform or observe any obligation or condition under this Agreement or any other transaction
                                         document, and to the best knowledge of Party B or Inmode Ltd. there is no basis for any
                                         such action, claim, suit, proceeding or investigation.

 

		23.1.3.	Intellectual
                                         Property.

 

		23.1.3.1.	A complete and detailed list of the Intellectual Property
was provided to Party A as part of the due diligence review conducted by it.

 

		23.1.3.2.	Party B and its subsidiaries have taken all commercially
reasonable measures to protect the confidentiality of the Intellectual Property or any other non-public, proprietary information
material to the businesses of Party B or to that of Inmode Ltd. All employees, contractors and agents of Party B or of Inmode
Ltd. or any subsidiary or affiliate thereof executed non-disclosure & assignment of invention agreements (or similar agreement
relating to the protection, ownership, development, use and transfer of the Intellectual Property and all Party B’s and/or
InMode Ltd.’s technology to Party B) in form which is satisfactory and customary. To the best of its knowledge, no employee,
contractor or agent of Party B or Inmode Ltd. is in default or breach of any term of any employment agreement, non-disclosure
agreement, assignment of invention agreement or similar agreement relating to the protection, ownership, development, use or transfer
of the Intellectual Property or any other intellectual property or technology owned by Party B or Inmode Ltd. Except a set out
in the Disclosure Schedule, no rights in any Intellectual Property, software or technology have been transferred or granted, with
regard to the Territory, by Party B or Inmode Ltd. to any other person.

 

    	23

     

    

 

		23.1.3.3.	Party B and/or InMode Ltd. is the owner of, or has valid
and continuing rights to use the Intellectual Property with respect to the Territory, free and clear of all third party rights.
Party B and/or InMode Ltd. has valid and continuing rights to make, sell, license or otherwise use the technology in connection
with the conduct of the business of Party B and/or InMode Ltd. as presently conducted and as contemplated hereunder in the Territory.
To its knowledge, there is no intellectual property or technology other than Intellectual Property licensed to the Company hereunder
that is material to or necessary for the operation of the business of the Company as contemplated to be conducted and, or for
the continued operation of the business of the Company as contemplated to be conducted.

 

		23.1.3.4.	To its knowledge, except as set forth in the Disclosure
Schedule with respect to claimed infringement, neither Party B nor any of its subsidiaries or affiliates by virtue of their use
of the Intellectual Property (including as contemplated hereunder) infringes upon, misappropriates, make unauthorized use of,
or otherwise violate the intellectual property rights of any third party.

 

		23.1.3.5.	Except as set out in the Disclosure Schedule, neither Party
B nor any of its subsidiaries or affiliates is a party to or the subject of any pending or, threatened, legal proceeding (including
investigation), which involves a claim (i) against Party B or any of its subsidiaries or affiliates, of infringement, unauthorized
use, or violation of any intellectual property or technology of any person, or challenging the ownership, use, validity or enforceability
of any Intellectual Property or technology or (ii) contesting, challenging, or seeking to deny or restrict the right of Party
B or any of its subsidiaries or affiliates to use, distribute, sell, exercise, lease, license, transfer or dispose of any Intellectual
Property or technology. Except as set out in the Disclosure Schedule, neither Party B nor any of its subsidiaries or affiliates
have received written notice of such threatened claim of infringement, unauthorized use, violation, misappropriation, or any similar
allegation with respect to the Intellectual Property or technology. Neither Party B nor any of its subsidiaries or affiliates
are subject to any order that restricts or impairs the use or the right to license or sub-license any of the Intellectual Property
in Israel and/ or the Territory.

 

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		23.1.3.6.	To the knowledge of Party B no person is infringing, violating,
misappropriating or otherwise misusing any of the Intellectual Property, and neither Party B or any of its subsidiaries has made
in the last five (5) years preceding the date hereof any such claims against any person.

 

		23.1.3.7.	There are no contracts or arrangements to which Party B
or any of its subsidiaries or affiliates is a party under which any governmental authority acquires rights with respect to any
Intellectual Property, nor has any governmental authority acquired any rights outside of any such contracts, arrangements or subcontract
as the result of providing any funding to Party B or to any of its subsidiaries or affiliates relating to the development of any
Intellectual Property, and there are no contracts or arrangements to which Party B or of any of its subsidiaries or affiliates
is a party under which any governmental authority acquires rights with respect to any Intellectual Property exclusively licensed
to Party B or any of its subsidiaries or affiliates.

 

		23.1.4.	Complete
                                         Disclosure. Neither this Agreement nor any certificate or other document attached
                                         hereto or referenced herein, contains an untrue statement of a material fact or omits
                                         to state a material fact necessary to make the statements herein or therein not complete
                                         or not misleading. Party B has disclosed to Party A all material facts pertaining to
                                         its relevant business operations, including without limitation, the Intellectual Property,
                                         and the transactions contemplated by this Agreement and all transaction documents. There
                                         is no fact or information relating to Party B which could reasonably be expected to be
                                         material to the transactions contemplated hereby or to the conduct of the business of
                                         the Company relevant to Party B that has not been disclosed to the Party A in full.

 

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Chapter 10

 

Indemnification Undertakings

 

		24.	Indemnification
                                         by Party B

 

		24.1.	Party
                                         B undertakes to indemnify and hold the Party A, and each of its affiliates, officers,
                                         directors, agents and employees and anyone on behalf of either of them (each of
                                         the foregoing, an “Party A Indemnified Person”),
                                         completely harmless from and against any and all Losses, arising from to any of
                                         the following: (i) any breach of or inaccuracy in any representation or warranty made
                                         by Party B in this Agreement or in any transaction document, (ii) any breach of or default
                                         in connection with any of the covenants, undertakings or agreements made by Party B in
                                         this Agreement or any transaction document.

 

“Losses”
shall mean, in that regard, any and all direct losses, causes of action, liabilities, costs, damages and expenses. Actions
(including, interest, penalties, reasonable attorneys’, consultants’ and experts’
fees and expenses and all amounts paid in investigation, defense or settlement (in accordance herewith) of any of the foregoing)
actually incurred. The Definition of Loss specifically excludes indirect, consequential or punitive damages.

 

		24.2.	Indemnification by the Company or Party B to the Party
A shall be limited (and shall serve as sole remedy for any Loss) as follows:

 

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		24.2.1.	Shall not exceed such
Party A’s actual respective Contribution Amount;

 

		24.2.2.	A claim for Losses shall not be filed after twenty-four
(24) months from the Closing.

 

		24.2.3.	A claim for Losses shall not be filed for damages estimated
at less than US$100,000, provided however that if the estimated damages exceed this sum, the claim may include all such damages,
including the US$100,000.

 

The aforesaid limitation of this Section 24
shall not apply with respect to any post-Closing obligations or covenants of the Company towards Party A, for payments and other
obligations of the Company that are included in the Amended and Restated Articles of Association of the Company.

 

		24.3.	Whenever
                                         a claim arises under this Section 24, Party A Indemnified Person seeking indemnification
                                         (the “Claimant”)
                                         shall notify Party B, in writing of such claim and the facts constituting the
                                         basis for such claim, and Party B will indemnify the Party A Indemnified Person with
                                         no delay.

 

Chapter 10

 

The Board of Directors
and Supervisor of the Joint Venture Equity Company

 

		25.	The
                                         Board of Directors of the Joint Venture Equity Company

 

		25.1.	Upon
                                         the Closing of this Agreement and the transactions contemplated herein, the board of
                                         directors of the Company (“Board”)
                                         shall be responsible for determining the overall policies and objectives of the
                                         Company and to supervise the activities of the management of the Company, as further
                                         described in this Chapter 10. All rights and powers not otherwise granted to the management
                                         under any applicable law or by contract, shall vest with the Board.

 

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		25.2.	Members of the Board

 

		25.2.1.	The
                                         Board shall consist of up to 6 (six) members, 3 (three) directors appointed
                                         by the Party A(the “Party A Directors”)
                                         and three directors appointed by Party B (all of the above - collectively, the
                                         “Directors”).

 

		25.2.2.	Directors shall be appointed, by notice in writing to the
Company, by the Shareholder entitled to appoint such Director, as set forth above. Subject to Section 12.1.5 (Payment Default),
A Director shall only be dismissed and/or replaced by the Shareholder that appointed him/her. The term of office of the Directors
will be renewed every four (4) years.

 

		25.2.3.	The chairperson of the Board of directors will preside
at every meeting of the Board. The Chairperson of the Board will be one of the Directors appointed by Party B, initially Mr. Moshe
Mizrahy. The chairperson of the Board will be the legal representative of the Company. The Vice Chairperson of the Board will
be appointed by the Party A. If at any meeting the Chairperson is not present within fifteen (15) minutes of the time fixed for
the meeting, the Directors present shall choose someone to be the Chairperson of such meeting. Subject to the terms of Section
25.5 below (Protective Provisions), the Chairperson shall be entitled to an additional or casting vote in a Board meeting.

 

		25.2.4.	A Director may appoint an alternate for a specific matter
or for a certain meeting, by issuance of notice in this regard to the Company, at least 2 days prior to the date of the Board
meeting. If a Director serves as an alternate for one or more additional directors, he/she shall have the number of votes equal
to the number of directors he/she represent.

 

		25.2.5.	None of the Directors or alternate Directors shall be entitled
to receive from the Company any remuneration for their services as Directors.

 

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		25.3.	Meetings
                                         of the Board

 

		25.3.1.	Meetings of the Board shall be convened by prior written
notice of not less than seven (7) working days, specifying the date and time (which must be reasonable to all members of the board
taking into consideration different time zones, applicable public holidays and rest days), place and agenda of the meeting, which
shall be given to all Directors and their alternates. Said notice may be waived or shortened upon the agreement in writing of
all Directors. The Board will convene at least once a year. The chairperson of the Board may convene a meeting of the Board at
the request made by more than one-third of the directors. Unless otherwise agreed in writing by all directors, the Board meetings
shall be held at the GDD.

 

		25.3.2.	Any action of the Board consented to in writing (including
via facsimile or e-mail) by all the Directors shall be valid as if so voted upon at a Board meeting duly called and held.

 

		25.3.3.	The Board shall be allowed to hold meetings using any means
of telecommunication, provided that all Directors participating in the meeting can speak simultaneously and hear and be heard
by all other Directors participating in the meeting, and provided further that the minutes of said meetings are thereafter signed
by the Chairperson and Vice Chairman of the meeting.

 

		25.3.4.	The legal quorum necessary for the holding of a meeting
of the Board is the presence, either in person or by proxy, of at least 2/3 of the appointed Directors serving in office at that
time.

 

		25.3.5.	If
                                         within half an hour of the time for the scheduled meeting, a legal quorum is not present,
                                         the meeting shall be postponed by one (1) working day and shall be held at the same place
                                         and time (“First Adjourned Meeting”).
                                         Quorum for the First Adjourned Meeting of the Board shall be 2/3 of the directors
                                         that are present, either in person or by proxy, and in the absence of a quorum, then
                                         a second adjourned meeting will be convened, within one (1) working days from the date
                                         of the First Adjourned Meeting, and shall be held at the same place and time (“Second
                                         Adjourned Meeting”). Quorum at the Second Adjourned Meeting shall be 2/3 of
                                         the directors that are present, either in person or by proxy. In the absence of a legal
                                         quorum at the Second Adjourned Meeting, the absentee director will grant a proxy to one
                                         of the directors that is present. A duly form of a proxy by each of the directors will
                                         be agreed by the Parties and signed by each of the directors at Closing.

 

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		25.3.6.	Subject to the terms of Section 25.5 below (Protective
Provisions) and the Chairperson’s casting vote, each of the Directors shall have an equal voting right, on every resolution,
without regard to whether the vote thereon is conducted by a show of hands, by written ballot or by any other means.

 

		25.3.7.	At the Closing, the Company will obtain D&O (directors
and officers) insurance policy with a carrier and in an amount satisfactory to the Party A. The Company will enter into an indemnification
agreement with each Director in a form approved by the Board.

 

		25.4.	Voting
                                         Rules for the Board

 

Subject to Section 25.5 (Protective Provisions)
below, and unless otherwise required by applicable laws with respect to issues that require a unanimous vote, any decision, action
or resolution of the Company, taken by the Board, shall be taken by a simple majority vote (or Directors subject to the Chairperson’s
casting vote, as applicable).

  

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		25.5.	Protective Provisions

 

		25.5.1.	Notwithstanding that stated in Section 25.4 above and subject
to the provisions in Section 12.1.5 above (Payment Default), any decision, action or resolution of the Company taken by the Board,
with respect to the following matters, shall require the affirmative vote or written consent of at least one of Party A Directors,
as applicable:

 

		(i)	make any loan or advance to, or own any stock or other
securities of, any subsidiary or other corporation, partnership, or other entity;

 

		(ii)	make any loan or advance to any person, including, any
employee or director, except advances and similar expenditures in the ordinary course of business or under the terms of an employee
stock or option plan approved by the board;

 

		(iii)	guarantee any indebtedness except for trade accounts of
the company or any subsidiary arising in the ordinary course of business;

 

		(iv)	make any investment inconsistent with any investment policy
approved by the board;

 

		(v)	incur any aggregate indebtedness in excess of 25% of the
annual budget that is not already included in a board-approved budget;

 

		(vi)	enter into or be a party to any transaction with any director,
officer or employee of the company or any other related party or to any transaction in which a related party has an interest;

 

		(vii)	change the principal business of the company, enter new
lines of business, or exit the current line of business;

 

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		(viii)	sell, assign, license, pledge or encumber material technology
or intellectual property, other than licenses granted in the ordinary course of business; or

 

		(ix)	enter into any corporate strategic relationship involving
the payment contribution or assignment by the company or to the company of assets greater than $1,000,000 (one million);

 

		(x)	any changes to the company’s signatory rights;

 

		(xi)	liquidate, dissolve or wind-up the affairs of the company,
or effect any merger or consolidation or any other deemed liquidation event (as defined in section 32.2 hereunder);

 

		(xii)	amend, alter, or repeal any provision of any of the company’s
incorporation documents;

 

		(xiii)	create, authorize the creation of, or issue any other security
of the company;

 

		(xiv)	pay any dividend excluding dividend to be paid in accordance
with the dividend policy described below;

 

		(xv)	create or hold capital stock in any subsidiary that is
not a wholly-owned subsidiary or dispose of any subsidiary stock or all or substantially all of any subsidiary assets;

 

		(xvi)	increase or decrease the size of the board; or

 

		(xvii)	approve of a reorganization or an IPO of the securities
of the company, a sale of all or substantially all of the assets of the company, or a merger of the company or any deemed liquidation
event (as such terms are defined in section 32.2 hereunder).

 

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		25.6.	Supervisory Board of the Joint Venture Equity Company

 

		25.6.1.	Effective
                                         as of Closing, the Company will not have a supervisory committee, but shall appoint a
                                         supervisor (the “Supervisor”).
                                         Dr. Carl Geng will be appointed as the first Company Supervisor. The term of appointment
                                         of the Supervisor shall be three (3) years. When the term expires, the Supervisor may
                                         be re-elected and reappointed by the Board. Directors and senior management staff shall
                                         not assume the position of a Supervisor.

 

		25.6.2.	The role of the Supervisor shall include the following
responsibilities:

 

		(i)	Check the financial affairs of the Company;

 

		(ii)	Supervise the acts of senior management personnel, Directors,
and recommend to the Board on corrective actions from Directors and senior management personnel;

 

		(iii)	Propose to convene temporary meetings of the Board, and
bring forward proposals at meetings of the Board of Directors.

 

		25.6.3.	The Supervisor shall be invited to attend all meetings
of the Board as a non-voting attendee, and may raise questions or suggestions about the meeting agenda discussed by the Board.

 

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Chapter 11

 

Lock-Up Period;
Right of First Refusal, Co-Sale Right,

 

Right of First
Offer, Pre-Emptive Rights

 

		26.	Lockup
                                         Period

 

During a period of twenty four
(24) months from the Closing (“Lockup Period”),
but provided that such period shall lapse upon an IPO of the securities of the Company (as defined in Section 27.3 hereunder),
the Shareholders shall not sell, transfer, assign, pledge, hypothecate, mortgage or dispose of, by gift or otherwise, or in any
way encumber or make any other Disposition any of their Equity Rights in the Company, without the prior written consent of the
other Shareholders, provided that a Shareholder shall be entitled to make a Disposition of its fully paid up Equity Rights to
its respective Permitted Transferee, and further provided, however, that such transferee shall execute a joinder to this Agreement,
consenting to be bound under the same rights and obligations which apply to its respective transferor, as further set in Section
27.3.9 below.

 

For the removal of doubt, the
undated consent, executed by each of Party B and Party A, for the Disposition of Equity Rights by the other Shareholder, is attached
as Exhibit 19.2.5 and 19.3.3 herein, and will be used by the other Shareholder upon a Disposition, subject to the
fulfilment by such other Shareholder, of all the terms set forth in Chapter 11 of this Agreement. Moreover, each of the Parties
undertakes to provide all necessary assistance to allow the other Party to exercise its rights under this Chapter 11.

 

		27.	Right of First
                                         Refusal; Co-Sale Right; Right of First Offer

 

Following the Lockup Period and prior to first
to occur of: the consummation of an IPO of the securities of the Company or an Exit Event (as such terms are defined in Section
27.3 hereunder), Dispositions of Equity Rights in the Company, other than a transfer to a Permitted Transferee, shall be subject
to the following, as applicable:

 

		27.1.	Party
                                         A’s Right of First Refusal

 

		27.1.1.	Party B shall only sell Equity Rights of the Company further
to a Bona Fide Offer (as defined below). If Party B reaches an agreement to sell Company’s Equity Rights further
to a Bona Fide Offer, it shall give Party Aa Shareholder Offeror Notice (as defined below) (within ten (10) working days of the
receipt of any such Bona Find Offer) giving Party A the opportunity to purchase all of the Equity Rights of the Company identified
in any such Shareholder Offeror Notice in accordance with the provisions of Section 27.1 below.

 

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		27.1.2.	Any
                                         election by the Party A to purchase Equity Rights of the Company from Party B pursuant
                                         to this Section 27.1.2 shall be made by written notification
                                         (an “Acceptance Notice”)
                                         to be received by Party B within twenty one
                                         (21) working days (the “Acceptance
                                         Period”) after the receipt of the
                                         Shareholder Offeror Notice by Party A.

 

		27.1.3.	The Acceptance Notice shall specify Party A’s consent
to purchase the entire amount of the Equity Rights of the Company offered by Party B under the Shareholder Offeror Notice. Failure
by the Party A to deliver an Acceptance Notice during the Acceptance Period shall be deemed an irrevocable waiver by Party A of
its rights under this Section 27.1 with respect to the Offered Equity Rights in any such Shareholder Offeror Notice
(but shall not act as a waiver of such Shareholder’s rights with respect to the Co-Sale Rights set forth in Section
27.2 below).

 

		27.1.4.	If Party A has issued an Acceptance Notice under this Section
27.1.2, the Offered Equity Rights shall be transferred by Party B to Party A pursuant to the terms identified in the applicable
Shareholder Offeror Notice within fourteen (14) working days from the end of the Acceptance Period subject to full payment therefore;

 

		27.1.5.	Party B shall sell and transfer the Offered Equity Rights
to Party A free and clear of any encumbrances, against payment by Party A of the applicable consideration specified in the Shareholder
Offeror Notice.

 

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		27.1.6.	In the event that not all Offered Equity Rights are elected
to be purchased by the Party A pursuant to Section 27.1.2 above, then (1) the Acceptance Notice shall be deemed to be null and
void and the Shareholder Offeror may, during the seventy (70) - day period following the end of the Acceptance Period, Dispose
of such Offered Equity Rights pursuant to the terms of the applicable Shareholder Offeror Notice, provided that ongoing obligations
of Party B (i.e. grant of the License) shall continue to bind Party B, and further provided that the purchaser of any such Offered
Equity Rights has agree in writing to assume the obligations of Party B under this Agreement, and (2) the Party A may exercise
its co-sale rights under Section 27.2 below.

 

		27.1.7.	In the event that Party B does not consummate the Disposition
of the Offered Equity Rights within such seventy (70) day period, any applicable right of right of first refusal provided hereunder
shall be reinstated, and any Disposition of any Equity Rights of the Company by Party B shall not be made unless it complies with
the provisions of this Section 27.1.

 

		27.2.	Co-Sale
                                         Rights.

 

		27.2.1.	If Party A does not exercise its right of first refusal
as per Section 27.1 above, it may nevertheless provide during the Acceptance Period a Co-Sale Notice in which it may sell, at
the price and on the terms stated in such Shareholder Offeror Notice, a pro rata portion of the total number of Offered Equity
Rights being sold by Party B equal to the product obtained by multiplying the number of the Offered Equity Rights by a fraction,
the numerator of which is the number of Equity Rights of the Company held by Party A and the denominator of which is the sum of
the total number of Equity Rights owned by Party B and by Party A. To the extent Party A exercises such right of Co-Sale, the
number of Equity Rights from the Offered Equity Rights that Party B may sell shall be correspondingly reduced and Party B shall
not sell any of the Offered Equity Rights to the Bona Fide Purchaser unless the Party A is allowed to sell its pro rate share
of the Offered Equity Rights as detailed above. If there is no such sale within such seventy (70) calendar days period, then Party
B will not sell or transfer the Offered Equity Rights, or any other Equity Rights of the Company, without again complying with
the provisions of this Section 27.2.

 

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		27.2.2.	Any
                                         such election by Party A shall be made by a written notice (a “Co-Sale
                                         Notice”) to Party B, with
                                         a copy to the Company, during the Acceptance Period. If Party A does not provide
                                         a Co-Sale Notice within the Acceptance Period it shall be deemed to have rejected such
                                         offer and waived its co-sale rights under this Section 27.2, and Party B shall be free
                                         within seventy (70) calendar days of the date of expiration of the period for submission
                                         of a Co-Sale Notice, to sell the Offered Equity Rights at the price and on the terms
                                         contained in the Shareholder Offeror Notice, provided that, to the extent approved by
                                         the Party A, ongoing obligations of Party B (i.e. grant of the License) shall continue
                                         to apply and further provided that the purchaser of any such Offered Equity Rights has
                                         agreed in writing to assume the other obligations of Party B under this Agreement. If
                                         there is no such sale within such seventy (70) calendar days period, then Party B will
                                         not sell or transfer the Offered Equity Rights, or any other Equity Rights of the Company,
                                         without again complying with the provisions of this Section 27.2.

 

		27.3.	Party
                                         B’s Right of First Offer

 

		27.3.1.	If Party A proposes to Dispose of any of its respective
Equity Rights in the Company (other than pursuant to a Permitted Transferee) it shall give Party B a Shareholder Offeror Notice
(which will only include sub section (2) and (3) of such notice, as the Party A is not required to have a Bona Fide Offer prior
to sending such notice) giving Party B the opportunity to purchase all of the Equity Rights of the Company identified in any such
Shareholder Offeror Notice in accordance with the provisions of Section 27.1.2-27.1.7 above which will apply, mutatis mutandis.
Party A shall not sell any Equity Rights to a direct competitor of the Company and/or Party B without the approval of the Chairman
of the Board of Party B.

 

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		27.3.2.	Defined
                                         Terms. The following defined terms used in this Section 27 (Party A’s Right
                                         of First Refusal, Co-Sale Right, Party B’s Right of First Offer) and Section 33
                                         (Party A Conversion Right to Party B Equity Rights) have the respective meanings set
                                         forth below:

 

		27.3.3.	A “Bona
Fide Offer” means a binding valid offer (including all material details and
documents pertaining thereto) from a Bona Fide Purchaser (defined below) to purchase some or all of the Equity Rights of the Company
owned by a Shareholder.

 

		27.3.4.	A
                                         “Bona Fide Purchaser”
                                         is any unaffiliated third party that is ready, willing and able to purchase or
                                         otherwise acquire any Equity Rights of the Company from a Shareholder.

 

		27.3.5.	A
                                         “Shareholder Offeror Notice” is
                                         a written notice provided by Party B to the Party A setting forth (1) Party B’s
                                         intention to Dispose of its Equity Rights (pursuant to a Bona Fide Offer), (2) the type,
                                         class, and number of Equity Rights of the Company proposed to be Disposed of by Party
                                         B (the “Offered Equity Rights”),
                                         (3) the price and all other commercial and payment terms and conditions upon which
                                         Party B proposes to Dispose of its Equity Rights, (4) the manner in which the price and
                                         such other terms and conditions were or shall be established, and (5) the identity of
                                         the Bona Fide Purchaser.

 

		27.3.6.	An
                                         “IPO”,
                                         an initial public offering of Company’s Equity Rights or of Party B securities
                                         or of any other corporation, as the case may be, on any international stock exchange,
                                         following the transformation of the Company into a foreign investment company limited
                                         by shares, to the extent required under PRC Law;

 

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		27.3.7.	“Exit
                                         Event”, means: (i) any merger, reorganization
                                         or consolidation of the Company with or into another entity, or the acquisition of the
                                         Company by means of any transaction or series of related transactions, following which
                                         the existing shareholders of the Company as of immediately prior to such transaction
                                         or series of related transactions hold, by virtue of such transaction or series of related
                                         transactions, less than 50% of the voting power of the surviving or acquiring entity
                                         or less than 50% of the issued and outstanding share capital of the surviving or acquiring
                                         entity, or (ii) a sale, transfer, grant of exclusive license or other disposition of
                                         all or substantially all of the assets of the Company, in a single transaction or a series
                                         of related transactions. “Party B Exit
                                         Event” shall have the same meaning
                                         as the above Exit Event definition referencing Party B instead of the Company where applicable.

 

		27.3.8.	“Dispose”
                                         or “Disposition” means the
                                         sale, assignment, transfer, creation of any liens or encumbrances or other forms
                                         of disposition of Equity Rights in the Company (including, without limitation, any Equity
                                         Rights in the Company issued pursuant to any employee stock option plan); provided,
                                         however, that the term “Dispose”
                                         or “Disposition” will not
                                         include any liens or encumbrances made by Party B to any financial institution
                                         as security for its debts or obligations, and further provided, that with respect to
                                         any Disposition of Party A Equity Rights, it will not include any sale, assignment, transfer,
                                         creation of any liens or encumbrances or other forms of disposition to any Competitor
                                         of the Company and/or Party B, unless approved in advance by Party B.

 

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		27.3.9.	“Permitted
                                         Transferee” means a transfer to (1) any legal
                                         entity which controls, is controlled by, or is under common control with such
                                         legal entity transferor, (2) in case of a transfer by a legal entity transferor which
                                         is a partnership (including a limited partnership) or a limited liability company, to
                                         any partners or retired partners, members or retired members, or partnership (including
                                         a limited partnership) or limited liability company managed by the same management company
                                         (or the same manager of any such limited liability company) or to the partners or members
                                         thereof, or (3) in case of a transfer by a legal entity transferor which is a trustee,
                                         the beneficial owner of the Equity Rights, all provided that: (A) the provisions of this
                                         Agreement shall continue to be applicable to the Equity Rights of the Company following
                                         any such transfer, (B) as a condition to any such transfer, the Permitted Transferee/s
                                         shall undertake in writing to be bound by the provisions of this Agreement, and (C) the
                                         restrictions on the Disposition of Equity Rights of the Company under this Agreement
                                         shall apply to any disposition of Equity Rights of the Company held by the Permitted
                                         Transferee(s) mutatis mutandis. The term “Control”
                                         as used herein, means the ability to direct or cause the direction of the activity
                                         of a person or entity, directly or indirectly, whether through the ownership of voting
                                         securities, by contract or otherwise, and it shall be deemed
                                         “control” in the event
                                         of ownership, solely or jointly with others, of half or more of the voting power, or
                                         the ability, solely or jointly with others, to designate a majority of the members of
                                         the board of directors or the manager(s) of any limited liability company or the general
                                         partner of any general partnership; provided, however, that for the purposes of this
                                         Section 1 only, the Disposition of any Equity Rights in a Permitted Transferee which
                                         is a legal entity (i.e., incorporated entity, limited liability company, trust or partnership)
                                         in which the sole or primary asset is Equity Rights of the Company
                                         (such legal entity shall be referred to as a “Holding Company”)
                                         shall be regarded as a Disposition of the Equity Rights of the Company, and the
                                         provisions of this Section 1 will apply accordingly. the Disposition of any Equity Rights
                                         in a Permitted Transferee which is a legal entity (i.e., incorporated entity, limited
                                         liability company, trust or partnership) in which the sole or primary asset is Equity
                                         Rights of the Company (such legal entity shall be referred
                                         to as a “Holding Company”)
                                         shall be regarded as a Disposition of the Equity Rights of the Company, and the
                                         provisions of this Section 1 will apply accordingly.

 

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		28.	Preemptive Rights

 

		28.1.	Following the Closing, until immediately prior to the consummation
of an IPO of the securities of the Company or an Exit Event, in the event that the Company proposes to issue or sell any New Securities
(as defined below), the Company shall first offer to each of the Shareholders the right to purchase such number of New Securities
reflecting a Shareholder’s Pro-Rata Share (as defined below) of the New Securities.

 

For purposes of this Section
28, a Shareholder’s “Pro-Rata Share”
shall mean the ratio of the number of issued Equity Rights of the Company owned by such Shareholder immediately prior to
the issuance of New Securities, to the total number of Equity Rights of the Company owned by all Shareholders immediately prior
to the issuance by the Company of New Securities.

 

“New Securities”
shall mean any equity interest (including different classes of Equity Rights and/or
preferred Equity Rights and any Equity Rights issued pursuant to an employee stock option plan) in the Company, whether now authorized
or not, and grants of any rights, options or warrants to purchase such equity interests, and securities of any type whatsoever
that are exercisable for or convertible into equity interests of the Company, other than (i) securities under an employees option
plan approved by the Board, (ii) any type or class of Equity Rights issued pro rata to all Shareholders in recapitalization events
or as dividend or bonus Equity Rights (including any adjustments made pursuant to such recapitalization), or (iv) securities offered
to the public in an IPO.

 

		28.2.	In
                                         the event that the Company proposes to issue New Securities, it shall give each of
                                         the Shareholders a written notice (a “Rights Notice”)
                                         of its intention, describing the type of New Securities, the price, the general
                                         terms upon which the Company proposes to issue such New Securities, and the number of
                                         New Securities that each Shareholder has the right to purchase hereunder. Pursuant to
                                         the purchase mechanics identified in Section 28.3 below, each Shareholder shall have
                                         fourteen (14) calendar days from its receipt of a Rights Notice to agree to purchase
                                         all or any part of such Shareholder’s Pro Rata
                                         Share of such New Securities for the price and upon the general terms specified
                                         in the applicable Rights Notice, by giving written notice to the Company setting forth
                                         the quantity of New Securities to be purchased.

 

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		28.3.	In the event that any Shareholder fails to exercise in
full its respective preemptive right within the fourteen (14) -day period specified above, the Company shall have ninety (90)
calendar days after the expiration of such fourteen (14) -day period to enter into an agreement with a third party to sell the
New Securities in respect of which the applicable Shareholders’ pre-emptive right set forth in this Section 27.2 is not
exercised, at a price and upon general terms no more favorable to the purchasers thereof than specified in the applicable Rights
Notice. In the event that the Company has not entered into an agreement to sell such New Securities within such ninety (90) day
period, the Company shall not thereafter issue or sell any New Securities without first again offering such New Securities to
each of the Shareholders in the manner provided in this Section 28.

 

		29.	Registration Rights

 

To the extent that Party B is granted with
any rights to register its rights in the Company for trade in a stock exchange, as part of an IPO of the Company, then Party A
shall have the same registration rights as Party B, on a pro-rata basis.

 

		30.	Dividend Policy

 

Following the Closing Date, the Company
will distribute, in dividends, annually, subject to any legal limitations, 20% (twenty percent) of its distributable profits, taking
into account the Company’s operational needs.

 

		31.	Anti Dilution Provisions

 

In the event that the Company issues additional
Company Equity Rights to an independent third party investor in the first equity investment immediately following the Closing of
the transactions contemplated herein only, reflecting a purchase price per share that is lower than the price per share reflected
by the Contribution Amount contemplated herein, the Party A will be issued additional Equity Rights of the Company, for no consideration
(other than the par value), based on a weighted average formula. This mechanism, will be reflected in the Company’s Amended
and Restated Articles of Association.

 

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		32.	Party A’s Liquidation Preference

 

		32.1.	Upon an event of any liquidation, dissolution or winding
up of the Company, and upon a Deemed Liquidation event as defined below, the Party A shall be entitled to be paid out of the assets
legally available for distribution to Company shareholders, before any payment to any other shareholder by reason of their ownership
thereof, amount in cash equal to that part of the Contribution Amount that was actually transferred to the Company. The remaining
assets legally available for distribution to Company shareholders shall be distributed to all Company shareholders in proportion
to the number of Company Equity Rights then held by them. The Company and Party B undertake (and in the case of Party B such undertaking
will include the use of all its powers in the Company, including the right to appoint and dismiss director and officers) to procure
that no such transaction will occur unless Party A’s liquidation preference is observed.

 

		32.2.	An
                                         Exit Event will be treated as a liquidation event thereby triggering payment of the liquidation
                                         preference described above (“Deemed
                                         Liquidation Event”).

 

		32.3.	In the event that due to Chinese Law, Party A’s preference
rights may not be exercised as indicated in this section 32 above, the Parties and the Company undertake to introduce an alternative
contractual vehicle that will ensure a similar economic outcome to Party A.

 

		33.	Party A Conversion Right to Party B Shares

 

		33.1.	If
                                         Party B contemplates an Party B Exit Event or an IPO, it shall give Party Aa notice (the
                                         “Exit Notice”)
                                         giving Party A the opportunity to convert all of the Party A’s Equity Rights
                                         into shares of Party B and to sell such shares as part of Party B Exit Event or the public
                                         market post the IPO (subject to any standoff and no sale periods applicable to other
                                         shareholders of Party B) (“Conversion
                                         Right”).

 

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		33.2.	The
                                         Conversion Right will be exercised based on the fair value of Party B and the Company,
                                         in accordance with the formula, as shall be agreed by the Parties prior to Closing and
                                         thereafter attached as Exhibit 33.2 hereto (“Conversion
                                         Formula”).

 

		33.3.	Any
                                         election by the Party A to exercise the Conversion Right shall be made by written
                                         notification (a “Conversion Notice”)
                                         to be received by Party B within thirty (30)
                                         days (the “Acceptance Period”)
                                         after the receipt of the Exit Notice by Party A.

 

		33.4.	The Conversion Notice shall specify Party A’s consent
to convert the entire amount of the Equity Rights of the Company held at the time by the Party A into Party B shares, immediately
prior to Party B Exit Event or to the IPO. Failure by Party A to deliver a Conversion Notice during the Acceptance Period shall
be deemed an irrevocable waiver by Party A of its rights to exercise its Conversion Right.

 

		33.5.	If Party A has issued a Conversion Notice under Section
33.3, Party A’s Equity Rights in the Company will be fully redeemed by the Company at their nominal value, and Party A will
be issued with such number of Party B shares, based on the Conversion Formula, all subject to any regulatory approvals that may
be required and the Parties undertake to make best efforts in order to obtain any approvals that may be required under Chinese
Law to give effect to the Conversion Right.

 

		33.6.	In the event that Party A has not submitted a Conversion
Notice during the Acceptance Period, then Party B may, during the one hundred (100) day period following the end of the Acceptance
Period, consummate the Party B Exit Event or the IPO pursuant to the terms of the applicable Exit Notice, without further obligation
to re-offer Party A the right to convert.

 

		33.7.	In the event that Party B does not consummate the Party
B Exit Event or the IPO within such one hundred (100) day period, any applicable conversion right of the Party A shall be reinstated, and any Party
B Exit Event or the IPO of any shares of Party B shall not be made unless it complies with the provisions of this Section 33.

 

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		33.8.	The Parties undertake to cooperate with each other to enable
Party A to exercise the Conversion Right in accordance with applicable laws.

 

		34.	Assistance in the Sale of the Party A’s Equity
Rights

 

Provided that at that time Party A has
paid all Milestone Payments due by such time, at the request of Party A, the Company shall, and Party B shall use reasonable powers
(including the right to appoint and dismiss directors and officers) to cause the Company to assist Party A in selling the Party
A’s Equity Rights in the Company (or in such other cases as listed below), including by causing the Company to assist in
marketing efforts, conducting road-shows or otherwise, providing any reasonable or necessary information to any prospective purchaser,
allowing prospective purchasers to meet with the management of the Company, supporting and facilitating any due diligence requirements,
etc. Such undertaking will apply to (i) the sale by Party A alone (at a pre-approved cost to be paid by Party A), (ii) the sale
of all of the Company’s Equity Rights or assets pursuant to Party A’s right to force such sale; and (iii) an IPO of
the securities of the Company, pursuant to Party A’s right to force it.

 

		35.	Party A Exit Rights

 

		35.1.	The Party A will have the right to force an IPO of the
securities of the Company, provided the underwritten valuation of the Company in such IPO is no less than US$50,000,000, the Company
has sufficient operational capital to finance the process and continue its operations as planned and further provided that Party
B is not undergoing an IPO during said year. To the extent that the Company has not succeeded in the consummation of an IPO pursuant
to the terms of this Section 35.1, the Party A may only force one additional IPO of the securities of the Company, not earlier
than eighteen (18) months after the failure of the process.

 

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		35.2.	Prior to the consummation of an IPO of the securities of
the Company, Party A and Party B shall negotiate in good faith and agree on a governance structure and by-laws, but Party A special
rights (liquidation preference, anti-dilution, veto rights etc.,) shall expire upon consummation of the Company IPO.

 

		35.3.	Party A will have the right to force the sale of the Company
or, at Party A’s choice, all of Company’s assets, provided the valuation of such transaction is no less than US$ 50,000,000
and further provided that the Chairman of Party B does not object to the sale due to such purchaser being a direct competitor
of Party B.

 

		35.4.	To the extent permitted by law, the Company undertakes
to indemnify and hold Party B and each Party A Indemnified Person (as defined above) completely harmless from and against any
and all Losses (as defined above) arising from or otherwise related to: (i) any untrue statement of a material fact contained
in any prospectus, offering circular, or other offering document relating to any IPO of the securities of the Company; (ii) any
failure to state therein a material fact necessary to make the statements therein not misleading; and (iii) any violation of applicable
law (including but not limited to, securities laws and exchange requirements applicable to any IPO of the securities of the Company).

 

		36.	Books and Records; Administration; Access

 

		36.1.	At all times the Company shall keep proper and complete
books of account, in which shall be entered fully and accurately the transactions to which the Company is a party, in accordance
with applicable law.

 

		36.2.	Each Shareholder
                                         holding above 15% (“Major Shareholders”)
                                         will be granted access to the Company facilities and personnel during normal business
                                         hours and with reasonable advance notification for the purpose of monitoring such shareholder’s
                                         investment in the Company.

 

    	46

     

    

  

		36.3.	The Company will deliver to each Major Shareholder the
following reports:

 

		36.3.1.	annual audited financial reports, ninety (90) days after
the end of every calendar year;

 

		36.3.2.	quarterly financial reports, within sixty (60) days after
the end of every calendar quarter;

 

		36.3.3.	monthly financial statements, within ten (10) days after
the end of every calendar month;

 

		36.3.4.	any other information as shall be determined from time
to time by the Board;

 

		36.3.5.	Thirty (30) days prior to the end of each fiscal year,
a comprehensive operating budget forecasting the Company’s revenues, expenses, and cash position on a month-to-month basis
for the upcoming fiscal year and an update to the business plan (including its extension to an additional year); and

 

		36.3.6.	promptly following the end of each quarter an up-to-date
capitalization table.

 

		37.	Tax

 

		37.1.	The Company shall pay all categories of taxes in accordance
with law and enjoy all preferential treatment of tax reduction or exemption in accordance with the tax law of China and the preferential
tax policy as approved by the responsible tax authorities.

 

    	47

     

    

  

		37.2.	The staff and workers of the Company shall pay on his own
the personal income tax in accordance with the “Personal Income Tax Law of the People’s
Republic of China”.

 

		38.	Finance, Accounting and Auditing

 

		38.1.	The financial and accounting system of the Company shall
be in accordance with the “Enterprise Accounting System” and the provisions of this
Agreement, and shall be formulated with the integration of the practical situations of the Company, and shall be reported
to the relevant financial and tax authorities for filing purpose. The accounting of the Company shall adopt the internationally
accepted accrual basis and debit and credit accounting system.

 

		38.2.	Before the end of January of each fiscal year, the Chief
Financial Officer shall according to the audited financial reports compile a report for the distribution of the profit of the
preceding fiscal year, and submit to the Board for resolution.

 

		38.3.	For the last quarter of each fiscal year, the Chief Financial
Officer shall compile the financial budget for the coming fiscal year, and submit to the Board for resolution.

 

		38.4.	The fiscal year of the Company is from the first (1st)
of January to the thirty-first (31st) of December of each calendar year. All the vouchers, receipts, reports and account
keeping books shall be written in Chinese.

 

		38.5.	The Company shall adopt Renminbi as the accounts keeping
unit. In case of receipts or payments in foreign currency, it shall concurrently be recorded in foreign currency.

 

		38.6.	The Company shall employ Chinese registered accountant
to undertake financial audit of the Company, and the audited reports of the financial statements for the preceding fiscal year
shall be submitted to the Chief Financial Officer by the end of January of each year.

 

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		38.7.	The Company shall accept the examination and scrutiny of
the financial revenues and expenditures, accounting books of the Company by the audit authorities of the government. Any of the
Parties shall have the right to recruit auditors to audit the accounting books and operating conditions of the Company at such
Party’s own expenses. During the audit, the Company shall provide all necessary assistance.

 

		38.8.	The Renminbi account and foreign exchange account opened
by the Company in the bank in China shall be managed by the Company. The collection, payment and clearance business of the Renminbi
and foreign exchange of the Company shall be handled by the adjacent banking institution, and the conditions offered by that bank
shall be more preferential or at least equal to the other competitors.

 

		38.9.	Financial Rules will be mutually agreed by the Parties
and adopted by the Company subject to the approval of the Board.

 

		38.10.	The accountants and auditors of the Company will be mutually
agreed by the Parties, provided it is one of the “Big-4” accounting firms (i.e. PWC, Deloitte, EY and KPMG).

 

		38.11.	At all times the Company shall keep proper and complete
books of account, in which shall be entered fully and accurately the transactions of the Company in accordance with applicable
law.

 

		38.12.	As part of its operations the Company will put in place
from time to time such procedures and policies (including human resource policy, risk management policy, financial management
regulations, foreign exchange matters, Board meeting procedures, etc.) as shall be further expanded by the Board.

 

		38.13.	Notwithstanding
                                         anything to the contrary, the Company shall keep additional books and accounts,
                                         follow such additional accounting principals and take all action in order to provide
                                         to Party B the needed accounting information in order to be able to fully consolidate
                                         the financial results.

 

    	49

     

    

  

		39.	Equity Share Option Plan

 

It is hereby agreed, that 5% of the Company
share capital will be reserved for an employee share option plan. There shall be neither voting rights nor preemptive rights for
Equity Rights issued upon exercise of such options (until an IPO).

 

		40.	Non
                                         Compete Undertaking

 

Party B undertakes and agrees not to compete
(including non-solicitation and non-circumvention undertakings) with the Company nor with any of its business activities excluding
the BodyTite products (whether as employee, officer, director, service provider, partner, shareholder or other similar capacity),
in the Territory. Mr. Moshe Mizrahy shall assume a similar personal undertaking, for so long as it holds shares in Party B. Party
B and Mr. Moshe Mizrahi will enter, effective at Closing, into a non-competition, non-solicitation and non-circumvention agreement,
in the forms as shall be agreed by the Parties by Closing.

 

		41.	Confidentiality

 

		41.1.	Each of the Parties (including the Company) undertakes
to keep all of the confidential information that it may receive from the other Party with respect to this Agreement and/or the
transactions contemplated herein and/or the negotiations leading up to execution of it confidential and/or confidential information
of the Company, not to make any use whatsoever of it and not to exploit it other than for the purpose of performance of the contract
the subject of this Agreement and not to transfer it to any third party whatsoever. The Company shall keep in confidence and shall
not use any and all confidential information disclosed to it by the Parties or which it shall become privy to as a result of the
performance of this Agreement or the operation of the Company.

 

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		41.2.	Confidential information for the purposes of this Agreement
shall mean: any information, including this Agreement and the conditions hereof, any data, document, sketch, plan, commercial information, accounting
information, professional information, marketing information, scientific information, technical information, commercial information
or other information in any form whatsoever and on any medium whatsoever, relating to any of the Parties (including the Company)
and/or their businesses, with the exception of information that has come into the public domain other than due to the breach of
this undertaking and except for any portion of the information that either of the Parties may be required to disclose under any
law or at the demand of any authority, and except for information that the Party (including the Company) bound by confidentiality
proves was in its possession prior to it being provided to it by any of the Parties (including the Company) to this Agreement.

 

		41.3.	Each of the Parties (including the Company) shall cause
all of its officers, employees and persons acting on its behalf to keep all confidential information, confidential and shall be
liable towards the other Parties (including the Company) for any disclosure of confidential information by any person acting on
its behalf.

 

		42.	Term and Termination

 

		42.1.	The Company’s
                                         term shall be twenty (20) years (the “Term”).
                                         Subject to the approval of relevant authorities, the term may be extended by consent
                                         of all shareholders of the Company.

 

		42.2.	This Agreement may be terminated by the written notice of a Party to the other Parties of an
                                                                                    intention to terminate this Agreement pursuant to the procedure set forth in Section 43 below, if: (i) any Party materially
                                                                                    breaches this Agreement, the License Agreement or violates the Articles of Association, and such breach or violation is not
                                                                                    cured within three (3) months of written notice to the breaching Party (in such case only the non-breaching Parties may
                                                                                    terminate); or (ii) the closing conditions set forth in Sections 14-18 hereof are not fulfilled by the Closing Date and are
                                                                                    not extended or waived; or (iii) the Company becomes bankrupt, or is the subject of proceedings for liquidation or
                                                                                    dissolution, or ceases or is unable to carry on business in accordance with this Agreement or becomes unable to pay its
                                                                                    debts as they come due.

 

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		43.	Dissolution, Liquidation and Handling of Assets

 

		43.1.	On the day after obtaining the approval from the original
examination and approval authorities for dissolution, the Company shall start the liquidation, and the Board shall organize a
Liquidation Committee to undertake liquidation of the debts, rights and assets of the Company. The liquidation of the Company
shall be undertaken in accordance with the regulations in this Agreement, the Articles of Association and the related laws.

 

		43.2.	In case the Company is dissolved pursuant to the provisions
of this Agreement, the Board of Directors shall form a Liquidation Committee within fifteen (15) days from the date of dissolution.
The members of the Liquidation Committee shall be appointed from the existing Directors or be taken up by professional staff employed.
The Liquidation Committee shall exercise the following scope of authorities during the period of liquidation:

 

		(1)	Clean up the property of the Company, compile the balance
sheet and inventory list of the property, and formulate the liquidation plan;

 

		(2)	Inform the unidentified creditors through announcement
in public notice, inform the identified creditors through written notice.

 

		(3)	Handle the non-ending operation of the Company.

 

		(4)	Propose the methods of evaluation and handling of the property.

 

		(5)	Pay outstanding taxes.

 

		(6)	Clean up the
creditors’ rights and debts.

 

		(7)	Handle the remaining property of the Company after repaying
the debts.

 

		(8)	Represent the Company to participate in civil claims proceedings.

 

		(9)	Other duties or powers as required or authorized by related
laws.

 

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		43.3.	The liquidation plan formulated by the Liquidation Committee
shall be endorsed by the Board, and then submitted to the original examination and approval authorities for record purpose.

 

		43.4.	After paying the liquidation fee and repaying all outstanding
debts, the remaining properties shall be distributed according to the proportion of the investment on the registered capital by
Parties, all subject to the provisions of Section 32 (Liquidation Preference) of this Agreement.

 

		43.5.	After the Liquidation Committee has completed all the tasks
as specified in the liquidation plan, it shall compile a liquidation report. After endorsement by the Board, the liquidation report
shall be submitted to the original examination and approval authorities for record purpose.

 

		43.6.	After filing the liquidation report with the original examination
and approval authorities, the Liquidation Committee shall be responsible for handling the tax, customs, de-registration of the
industry and commerce identity and announce the termination of the Company through public notice.

 

		44.	Management

 

		44.1.	Managers

 

		44.1.1.	The Company shall adopt a management system under which
the General Manager shall be responsible to and under the leadership of the Board.

 

		44.1.2.	The General Manager, the Finance Manager, the Operation
Manager and the Technical Manager shall be nominated by Party B, subject to the prior consent of Party A, and appointed by the
Board.

 

		44.2.	Terms of
                                         Office and Dismissal. The terms of office of the General Manager and other senior
                                         management personnel shall normally be three (3) years, or as otherwise determined by
                                         the Board. They may be dismissed at any time by a resolution of the Board, subject to
                                         their personal labor agreements.

 

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		44.3.	Responsibilities
                                         and Powers of the General Manager. The duties of the General Manager shall consist
                                         of carrying out the decisions of the Board and organising, directing and deciding all
                                         matters relating to the day-to-day operation and management of the Company, and achieving
                                         the operation target determined by the Board. Within the limitations specified in the
                                         restated Articles of Association, this Agreement, and as may be determined by the Board,
                                         the General Manager shall represent the Company in all matters concerning its day-to-day
                                         operations and management.

 

		44.4.	Employees
                                         and Wages. The employees recruitment, dismissal, wages and salaries, welfare, labor
                                         insurance, retirement insurance, labor discipline and other matters of the
                                         Company shall be executed in accordance with the “Labor Laws of the People’s
                                         Republic of China”, “Labor Contract Laws of the People’s Republic of
                                         China” and the implementation practices as formulated by the various levels
                                         of the responsible authorities. It shall be autonomously decided by the Company without
                                         any interference from external parties. The Company shall sign the labor contract with
                                         the employees of the Company on an individual basis, and the labor contract shall be
                                         filed with the relevant responsible authorities for record purpose.

 

		44.5.	The standard of wages and salaries, the form of wages and
other systems, and the bonus and subsidies for the staff shall be determined by the Board.

 

		44.6.	In case the annual executive management fee received by
any one of the Executive Management appointed by the Parties of the Company or appointed by any respective parties is eligible
for paying any categories of tax (including personal income tax), it shall be the sole responsibility of and paid by such Executive
Management.

 

		45.	Miscellaneous.

 

		45.1.	Further
                                         Assurances. Each of the Shareholders hereto shall perform such further acts and execute
                                         such further documents as may reasonably be necessary to carry out and give full effect to the provisions
of this Agreement and the intentions of the Shareholders as reflected thereby.

 

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		45.2.	Costs and
                                         Expenses. Except as otherwise expressly agreed to between the Parties in writing,
                                         the Company shall bear all costs and expenses associated with this Agreement, including
                                         the completion, execution and delivery thereof, costs associated with the formation of
                                         the Company and the consummation of the transactions contemplated therein.

 

		45.3.	Governing
                                         Law and Jurisdiction. This Agreement shall be governed by and construed in accordance
                                         with the laws of the Republic of China, without regard to its principles concerning conflicts
                                         of laws. All disputes, questions or differences whatsoever which shall at any time hereafter
                                         arise between the Parties hereto (including the Company) or their respective representatives
                                         or any of them, and which the Parties are unable to settle amicably between them, concerning
                                         or relating to this Agreement or the validity, construction, meaning, operation or effect
                                         thereof, or any clause herein contained, or as to the rights, duties or liabilities of
                                         the Parties hereto under or by virtue of this Agreement, shall be finally settled under
                                         the Rules of Arbitration of the International Chamber of Commerce by one (1) arbitrator
                                         appointed in accordance with the said Rules. Arbitration proceedings shall take place
                                         in Israel and be conducted in the English language. Judgment upon any award rendered
                                         by the arbitrator may be entered in any court having jurisdiction or application may
                                         be made to such court for a judicial acceptance of the award and an order of enforcement
                                         as the case may be. As between the Parties, the English version of this Agreement and
                                         any other transaction document will prevail.

 

		45.4.	Prevailing
                                         Language of Documents. The English and Chinese versions of this Agreement and all
                                         Exhibits shall be of equal effect.

 

		45.5.	Successors
                                         and Assigns; Assignment. Except as otherwise expressly limited herein, the provisions
                                         hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs,
                                         executors, and administrators of the Shareholders. Neither Shareholder may assign its
                                         rights or obligations under this Agreement without the prior written consent of the other
                                         Shareholder.

 

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		45.6.	Inconsistency.
                                         In any case of inconsistency between the terms and conditions of this Agreement and the
                                         Amended and Restated Articles of Association of the Company or any other organizational
                                         document of the Company, the terms and conditions of this Agreement, to the extent permitted
                                         under applicable law, shall supersede.

 

		45.7.	Entire
                                         Agreement; Amendment and Waiver. This Agreement constitutes the full and entire understanding
                                         and agreement between the Parties (including the Company) with regard to the subject
                                         matters hereof and thereof and supersedes any prior oral or written agreement concerning
                                         the subject matters hereof. Any term of this Agreement may be amended and the observance
                                         of any term hereof may be waived (either prospectively or retroactively and either generally
                                         or in a particular instance) only with the written consent of all Shareholders.

 

		45.8.	Notices.
                                         Any notices required or permitted to be given hereunder may be sent by registered mail,
                                         telex, facsimile or e-mail. Notices sent by mail shall be deemed given seven (7) days
                                         after mailing, postage prepaid. Notices by telex, facsimile or e-mail shall be deemed
                                         given on the date transmitted with written verification of receipt. Until changed by
                                         written notice given by either Shareholder to the other, the addresses of the Shareholders
                                         for the purpose of this Agreement are as set forth in the beginning of this Agreement.

 

		45.9.	Delays
                                         or Omissions. No delay or omission to exercise any right, power, or remedy accruing
                                         to any Shareholder upon any breach or default under this Agreement, shall be deemed a
                                         waiver of any other breach or default theretofore or thereafter occurring. Any waiver,
                                         permit, consent, or approval of any kind or character on the part of any Shareholder
                                         of any breach or default under this Agreement, or any waiver on the part of any Shareholder
                                         of any provisions or conditions of this Agreement, must be in writing and shall be effective
                                         only to the extent specifically set forth in such writing. All remedies, either under
                                         this Agreement or by law or otherwise afforded to any of the Shareholders, shall be cumulative
                                         and not alternative.

 

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		45.10.	Severability.
                                         If any provision of this Agreement is held by a competent tribunal to be unenforceable
                                         under applicable law, then such provision shall be excluded from this Agreement and the
                                         remainder of this Agreement shall be interpreted as if such provision were so excluded
                                         and shall be enforceable in accordance with its terms; provided, however, that in such
                                         event this Agreement shall be interpreted so as to give effect, to the greatest extent
                                         consistent with and permitted by applicable law, to the meaning and intention of the
                                         excluded provision as determined by such court of competent jurisdiction.

 

		45.11.	Counterparts.
                                         This Agreement may be executed in any number of counterparts, each of which shall be
                                         deemed an original and enforceable against the Shareholders actually executing such counterpart,
                                         and all of which together shall constitute one and the same instrument.

 

[The remainder of this page is intentionally
left blank]

 

    	57

     

    

 

Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP)

 

By its General Partner, Guangzhou Elim Biotech Industrial Venture
Capital Management Company

 

 

	By: 		
	 	 	 
	Name:	 	 
	 	 	 
	Title:    	 	 
	 	 	 
	Date:	 	 

 

Invasix Ltd.                    

 

	By:		 
	 	 	 
	Name:	 	 
	 	 	 
	Title:    	 	 
	 	 	 
	Date:	 	 

 

Guangzhou InMode Medical Technology Ltd.

 

	By:		
	 	 	 
	Name:	 	 
	 	 	 
	Title:    	 	 
	 	 	 
	Date:	 	 

 

    	58

     

    

 

Exhibit 11.1.3 - Additional Capital
Contribution post Closing

 

Pursuant to Section 11.1.3 of the Agreement,
the Party A shall pay the following sums as invested by Party A as a capital reserve:

 

		1.	12,403,922RMB within thirty (30) days after Closing (equal
to 50M*25%- initial capital contribution made by the Party A at the Closing).17.5 Million RMB (equal to 50M*35%), upon initiating
of production and manufacturing line in the Territory.

 

		2.	20 Million RMB (equal to 50M*40%), upon completion of sales
and positioning of the first 10 InMode platforms in the Territory.

 

    	59

     

    

  

19.1.3

 

Business
License

 

     

     

    

 

Business License

(Duplicate)

 

No. 外(Foreign)
S0802016004703(1-1)

Unified Social Credit Code: 91440101MA59EYWT47

 

	Name	Guangzhou InMode Medical Sci&Tech Co., Ltd.
	Type 	Limited
    Liability Company (LLC) (Wholly owned Foreign Enterprise)
	Address	Room
103-1, First Floor, No. 6, Luoxuansan Road,
International Bio Island, Guangzhou
	Legal Representative	MOSHE MIZRAHY
	Registered Capital	100,000 RMB
	Date of Establishment	September 23rd 2016
	Term of Operation	From September 23rd 2016 to September 23rd 2066
	Scope of Business	Research and experimental development (For specific items of business scope, please visit the Guangzhou Business Entities Information Platform. The business scope that has been reviewed and approved by examining and approving authorities shall prevail. The types of business which require approval per regulations shall be active only after approval from relevant authorities.)

 

REGISTERED
WITH Guangzhou Administration for Industry and Commerce

September 23rd 2016 

 

     

     

    

 

19.1.7

 

Amended
and Restated Articles of Association of the Company

 

     

     

    

 

Amended
and Restated Articles of Association

of

Guangzhou
InMode Medical Technology Ltd.

 

Chapter I

 

General Provisions

 

		Article 1.	General. These Articles of Association are established
in accordance with the Company Law of the People’s Republic of China,
the Law of the People’s Republic of China on Chinese-Foreign Equity Joint Ventures, and the Contract on Establishment
of Guangzhou InMode Medical Technology Ltd. (the “JV Agreement”). These
Articles of Association shall be the Company’s code of conduct and shall be strictly observed by all equityholders,
directors, supervisors and executive management staff of the Guangzhou InMode Medical Technology Ltd (the “Company”).

 

		Article 2.	Company name: Guangzhou InMode Medical Technology
Ltd..

 

		Article 3.	Domicile: Unit 103-1 1/F, No.6 Luoxuan 3rd., Bio-Island, Guangzhou

 

		Article 4.	The form of the Company: Limited Liability Company
(Sino-foreign joint venture).

 

		Article 5.	The Chairman of the Board of Directors of the Company (the
 “Board”) shall be the legal representative of the Company.

 

    	1

     

    

 

		Article 6.	Purpose of the Company: The Company will be engaged,
inter alia, in the importation, marketing and sale of all Invasix Ltd.’s Products in the Territory (as defined below). The
Territory is defined as the People’s Republic of China, Hong Kong,
Taiwan and Macau (the “Territory”).
The Company may also independently develop, design and manufacture products and devices based on Invasix Ltd.’s
intellectual property and technology (as defined in the JV Agreement) and to operate a production line (or lines) for said purpose;
also carry out clinical trials and regulatory activities, and the sales, marketing, distribution,support and warranty of the said
products.

 

		Article 7.	Category of core business: Research and testing
development.

 

		Article 8.	Scope of business: Medical research and testing
development; Biotechnology research; the sale of non-licensing medical devices; export and import of goods (except for exclusively
controlled and sold merchandise) (or other business as may be approved by the Administration of Industry and Commerce). ((Excluding
business prohibited by the laws and regulations or is included in the restricted or forbidden categories of the Catalogue of Industries
for Guiding Foreign Investment; business shall not involve goods that are subject to the administration of state-run trade, if
the business is subject to quota control or licensing administration, quota or license shall be obtained pursuant to the relevant
provisions.)

 

		Article 9.	Authorized business: N/A.

 

		Article 10.	The total amount of investment into the Company: RMB280,000.
The Company’s registered capital: RMB 196,078.

 

    	2

     

    

 

Chapter II

   

Equityholders and Capital Contributions

 

		Article 11.	Equityholders and Capital Contributions:

 

	Equityrightholder’s
 Name	 	Date for Capital

 Contribution	 	Amount of
 Capital
 Contribution
 (1K RMB)	 	Ratio of
 Capital
 Contribution	 	 	Form of
 Capital

 Contribution
	Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP)(“Party A”)
  
	 	Before 1st May 2017	 	96.078K RMB
 (“Investment
Amount”)
	 	 	49	%	 	Cash
	Invasix Ltd. (“Party B”),
 
  
 Party A and Party B are collectively hereafter referred to as the “Parties”
	 	Before
                                                                                                     1st Mar. 2017
	 	100KRMB	 	 	51	%	 	Cash

 

    	3

     

    

 

Chapter III

 

Company’s
Equity and Rights of Equityholders

 

		Article 12.	Definitions. The following terms used herein shall
have the meanings defined as follows:

 

		a.	“Bona
                                         Fide Offer” means a binding valid offer (including all material details and
                                         documents pertaining thereto) from a Bona Fide Purchaser (defined below) to purchase
                                         some or all of the Equity rights of the Company owned by an Equity holder.

 

		b.	“Bona
                                         Fide Purchaser” is any unaffiliated third party that is ready, willing and
                                         able to purchase or otherwise acquire any Equity rights of the Company from an Equity
                                         holder.

 

		c.	“Dispose”
                                         or “Disposition” means the sale, assignment, transfer, creation of
                                         any liens or encumbrances or other forms of disposition of Equity rights in the Company
                                         (including, without limitation, any Equity rights in the Company issued pursuant to any
                                         employee stock option plan); provided, however, that the term “Dispose”
                                         or “Disposition” will not include any liens or encumbrances made by
                                         Party B to any financial institution as security for its debts or obligations, and further
                                         provided, that with respect to any Disposition of Party A Equity rights, it will not
                                         include any sale, assignment, transfer, creation of any liens or encumbrances or other
                                         forms of disposition to any Competitor of the Company and/or Party B, unless approved
                                         in advance by Party B.

 

		d.	“Exit
                                         Event”, means: (i) any merger, reorganization or consolidation of the Company
                                         with or into another entity, or the acquisition of the Company by means of any transaction
                                         or series of related transactions, following which the existing equityholders of the
                                         Company as of immediately prior to such transaction or series of related transactions
                                         hold, by virtue of such transaction or series of related transactions, less than 50%
                                         of the voting power of the surviving or acquiring entity or less than 50% of the issued
                                         and outstanding equity right capital of the surviving or acquiring entity, or (ii) a
                                         sale, transfer, grant of exclusive license or other disposition of all or substantially
                                         all of the assets of the Company, in a single transaction or a series of related transactions.
                                         “Party B Exit Event” shall have the same meaning as the above Exit
                                         Event definition referencing Party B instead of the Company where applicable.

 

    	4

     

    

 

		e.	“Investment
                                         Amount” shall mean the amount of funds actually invested and received by the
                                         Company from Party A in exchange for equity rights of the Company as provided in the
                                         JV Agreement or otherwise.

 

		f.	“IPO”,
                                         an initial public offering of Company’s Equity rights or of Party B securities
                                         or of any other corporation, as the case may be, on any international stock exchange.

 

		g.	“JV Agreement”
                                         shall mean that agreement entered into by and between Party A, Party B and the Company
                                         dated 8thOct., 2016 regarding the investment, operations and conversion of
                                         the Company into an Equity Joint Venture Company.

 

		h.	“New Securities”
                                         shall mean any equity interest (including different classes of ordinary equity rights
                                         and/or preferred equity rights and any equity rights issued pursuant to an employee stock
                                         option plan) in the Company, whether now authorized or not, and grants of any rights,
                                         options or warrants to purchase such equity interests, and securities of any type whatsoever
                                         that are exercisable for or convertible into equity interests of the Company, other than
                                         (i) securities under an employee’s option plan approved by the Board, (ii) any
                                         type or class of equity rights issued pro rata to all Equityholders in recapitalization
                                         events or as dividend or bonus equity rights (including any adjustments made pursuant
                                         to such recapitalization), or (iv) securities offered to the public in an IPO.

 

    	5

     

    

 

		i.	“Permitted
                                         Transferee” means (a) with respect to (1) any legal entity which controls,
                                         is controlled by, or is under common control with such legal entity transferor, (2) in
                                         case of a transfer by a legal entity transferor which is a partnership (including a limited
                                         partnership) or a limited liability company, to any partners or retired partners, members
                                         or retired members, or partnership (including a limited partnership) or limited liability
                                         company managed by the same management company (or the same manager of any such limited
                                         liability company) or to the partners or members thereof, or (3) in case of a transfer
                                         by a legal entity transferor which is a trustee, the beneficial owner of the equity rights,
                                         all provided that: (A) the provisions of the JV Agreement shall continue to be applicable
                                         to the Equity rights of the Company following any such transfer, (B) as a condition to
                                         any such transfer, the Permitted Transferee/s shall undertake in writing to be bound
                                         by the provisions of the JV Agreement, and (C) the restrictions on the Disposition of
                                         Equity rights of the Company under the JV Agreement shall apply to any disposition of
                                         Equity rights of the Company held by the Permitted Transferee(s) mutatis mutandis. The
                                         term “Control” as used herein, means the ability to direct or cause the direction
                                         of the activity of a person or entity, directly or indirectly, whether through the ownership
                                         of voting securities, by contract or otherwise, and it shall be deemed “control”
                                         in the event of ownership, solely or jointly with others, of half or more of the voting
                                         power, or the ability, solely or jointly with others, to designate a majority of the
                                         members of the board of directors or the manager(s) of any limited liability company
                                         or the general partner of any general partnership; provided, however, that for the purposes
                                         of this Article 13 only, the Disposition of any equity rights in a Permitted Transferee
                                         which is a legal entity (i.e., incorporated entity, limited liability company, trust
                                         or partnership) in which the sole or primary asset is equity rights of
                                         the Company (such legal entity shall be referred to as a “Holding Company”)
                                         shall be regarded as a Disposition of the Equity rights of the Company, and the provisions
                                         of this Article 13 will apply accordingly.

 

		j.	“Pro-Rata
                                         Equity right” shall mean the ratio of the number of issued Equity rights of
                                         the Company owned by such Equityholder immediately prior to the issuance of New Securities,
                                         to the total number of Equity rights of the Company owned by all Equityholders immediately
                                         prior to the issuance by the Company of New Securities.

 

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		k.	“Equityholder
                                         Offeror Notice” is a written notice provided by Party B to the Party A setting
                                         forth (1) Party B’s intention to Dispose of its Equity rights (pursuant to a Bona
                                         Fide Offer), (2) the type, class, and number of Equity rights of the Company proposed
                                         to be Disposed of by Party B (the “Offered Equity rights”), (3) the
                                         price and all other commercial and payment terms and conditions upon which Party B proposes
                                         to Dispose of its Equity rights, (4) the manner in which the price and such other terms
                                         and conditions were or shall be established, and (5) the identity of the Bona Fide Purchaser.

 

		l.	“Equity
                                         rights” or “Company Equity rights” shall mean the Company’s
                                         equity right capital or any other security interest as stipulated under Chinese law for
                                         an Equity Joint Venture Company.

 

		Article 13.	Lockup Period. During a period of twenty
four (24) months from the Closing (“Lockup Period”), but provided that such period shall lapse upon an IPO
of the securities of the Company, the Equityholders shall not sell, transfer, assign, pledge, hypothecate, mortgage or dispose
of, by gift or otherwise, or in any way encumber or make any other Disposition any of their Equity rights in the Company, without
the prior written consent of the other Equityholders, provided that an Equityholder shall be entitled to make a Disposition of
its fully paid up Equity rights to its respective Permitted Transferee, and further provided, however, that such transferee shall
execute a joinder to the JV Agreement, consenting to be bound under the same rights and obligations which apply to its respective
transferor, as further set forth in Article 12.h) above.

 

		Article 14.	Disposition of Equity rights. Following the
Lockup Period and prior to the first to occur of the consummation of an IPO of the securities of the Company or an Exit Event,
Dispositions of Equity rights in the Company, other than a transfer to a Permitted Transferee, shall be subject to the following,
as applicable:

 

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		Article 15.	Party A’s Right of First Refusal

 

		a.	Party B shall only sell Equity rights of the Company further to a Bona Fide Offer. If Party B
                                                                               reaches an agreement to sell Company’s Equity rights further to a Bona Fide Offer, it shall give Party A an
                                                                               Equityholder Offeror Notice within ten (10) working days of the receipt of any such Bona Find Offer, giving Party A the
                                                                               opportunity to purchase all of the Equity rights of the Company identified in any such Equityholder Offeror Notice in
                                                                               accordance with the provisions of this Article 15.

 

		b.	Any election by
                                         Party A to purchase Equity rights of the Company from Party B pursuant to this Article
                                         15 shall be made by written notification (an “Acceptance Notice”)
                                         to be received by Party B within twenty-one (21) working days (the “Acceptance
                                         Period”) after the receipt of the Equityholder Offeror Notice by Party A.

 

		c.	The Acceptance Notice shall specify Party A’s consent to purchase the entire amount of
                                                                               the Equity rights of the Company offered by Party B under the Equityholder Offeror Notice. Failure by Party A to deliver an
                                                                               Acceptance Notice during the Acceptance Period shall be deemed an irrevocable waiver by Party A of its rights under this
                                                                               Article 15 with respect to the Offered Equity rights in any such Equityholder Offeror Notice (but shall not act as a waiver
                                                                               of such Equityholder’s rights with respect to the Co-Sale Rights set forth in Article 16 below).

 

		d.	If Party A has issued an Acceptance Notice under this Article 15, the Offered Equity rights
                                                                               shall be transferred by Party B to Party A pursuant to the terms identified in the applicable Equityholder Offeror Notice
                                                                               within fourteen (14) working days from the end of the Acceptance Period subject to full payment therefore.

 

		e.	Party B shall sell and transfer the Offered Equity
rights to Party A free and clear of any encumbrances, against payment by Party A of the applicable consideration specified in
the Equityholder Offeror Notice.

 

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		f.	In the event that not all Offered Equity rights are
elected to be purchased by Party A pursuant to Article 15b) above, then (1) the Acceptance Notice shall be deemed to be null and
void and the Equityholder Offeror may, during the seventy (70) day period following the end of the Acceptance Period, Dispose
of such Offered Equity rights pursuant to the terms of the applicable Equityholder Offeror Notice, provided that ongoing obligations
of Party B (i.e. grant of the License) shall continue to bind Party B, and further provided that the purchaser of any such Offered
Equity rights has agreed in writing to assume the obligations of Party B under these Articles of Association, and (2) Party A
may exercise its co-sale rights under Article 16 below.

 

		g.	In the event that Party B does not consummate the
Disposition of the Offered Shares within such seventy (70) day period, any applicable right of right of first refusal provided
hereunder shall be reinstated, and any Disposition of any shares of the Company by Party B shall not be made unless it complies
with the provisions of this Article 15.

 

		Article 16.	Co-Sale Rights

 

		a.	If Party A does not exercise its right of first refusal
as per Article 15 above, it may nevertheless provide during the Acceptance Period a Co-Sale Notice in which it may sell, at the
price and on the terms stated in such Equityholder Offeror Notice, a pro rata portion of the total number of Offered Equity rights
being sold by Party B equal to the product obtained by multiplying the number of the Offered Equity rights by a fraction, the
numerator of which is the number of Equity rights of the Company held by Party A and the denominator of which is the sum of the
total number of Equity rights owned by Party B and by Party A. To the extent the Party A exercises such right of Co-Sale, the
number of equity rights from the Offered Equity rights that Party B may sell shall be correspondingly reduced and Party B shall
not sell any of the Offered Equity rights to the Bona Fide Purchaser unless Party A is allowed to sell its pro rate equity right
of the Offered Equity rights as detailed above. If there is no such sale within such seventy (70) calendar days period, then Party
B will not sell or transfer the Offered Equity rights, or any other equity rights of the Company, without again complying with
the provisions of this Article 16.

 

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		b.	Any such election
                                         by Party A shall be made by a written notice (a “Co-Sale Notice”)
                                         to Party B, with a copy to the Company, during the Acceptance Period. If Party A does
                                         not provide a Co-Sale Notice within the Acceptance Period it shall be deemed to have
                                         rejected such offer and waived its co-sale rights under this Article 16, and Party B
                                         shall be free within seventy (70) calendar days of the date of expiration of the period
                                         for submission of a Co-Sale Notice, to sell the Offered Equity rights at the price and
                                         on the terms contained in the Equityholder Offeror Notice, provided that, to the extent
                                         approved by Party A, ongoing obligations of Party B (i.e. grant of the License) shall
                                         continue to apply and further provided that the purchaser of any such Offered Equity
                                         rights has agreed in writing to assume the other obligations of Party B under this Articles
                                         of Association. If there is no such sale within such seventy (70) calendar days period,
                                         then Party B will not sell or transfer the Offered Equity rights, or any other Equity
                                         rights of the Company, without again complying with the provisions of this Article 16.

 

		Article 17.	Party B’ s Right of First Offer

 

 If Party A proposes to Dispose of any of its respective Equity rights in the Company (other than pursuant to a Permitted Transferee) it shall give Party B an Equityholder Offeror Notice (which will only include subsection (2) and (3) of such notice, as the Party A is not required to have a Bona Fide Offer prior to sending such notice) giving Party B the opportunity to purchase all of the Equity rights of the Company identified in any such Equityholder Offeror Notice in accordance with the provisions of Article 15 and Article 16 above which will apply, mutatis mutandis. Party A shall not sell any Equity rights to a direct competitor of the Company and/or Party B without the approval of the Chairman of the Board of Party B.

 

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		Article 18.	Preemptive Rights

 

		a.	Until immediately prior to the consummation of an
IPO of the securities of the Company or an Exit Event, in the event that the Company proposes to issue or sell any New Securities,
the Company shall first offer to each of the Equityholders the right to purchase such number of New Securities reflecting a Equityholder’s
Pro-Rata Equity right of the New Securities.

 

		b.	In the event that
                                         the Company proposes to issue New Securities, it shall give each of the Equityholders
                                         a written notice (a “Rights Notice”) of its intention, describing
                                         the type of New Securities, the price, the general terms upon which the Company proposes
                                         to issue such New Securities, and the number of New Securities that each Equityholder
                                         has the right to purchase hereunder. Pursuant to the purchase mechanics identified in
                                         Article 18c) below, each Equityholder shall have fourteen (14) calendar days from its
                                         receipt of a Rights Notice to agree to purchase all or any part of such Equityholder’s
                                         Pro Rata Equity right of such New Securities for the price and upon the general terms
                                         specified in the applicable Rights Notice, by giving written notice to the Company setting
                                         forth the quantity of New Securities to be purchased.

 

		c.	In the event that any Equityholder fails to exercise in full its respective preemptive right
                                                                               within the 14-day period specified above, the Company shall have ninety (90) calendar days after the expiration of such
                                                                               14-day period to enter into an agreement with a third party to sell the New Securities in respect of which the applicable
                                                                               Equityholders’ pre-emptive right set forth in this Article 18 is not exercised, at a price and upon general terms no
                                                                               more favorable to the purchasers thereof than specified in the applicable Rights Notice. In the event that the Company has
                                                                               not entered into an agreement to sell such New Securities within such ninety (90) -day period, the Company shall
                                                                               not thereafter issue or sell any New Securities without first again offering such New Securities to each of the Equityholders
                                                                               in the manner provided in this Article 18.

 

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		Article 19.	Anti-Dilution Provisions. In the event that the
Company issues additional Company Equity rights to an independent third party investor in the first equity investment immediately
following the Closing of the JV Agreement only, reflecting a purchase price per equity right that is lower than the price per
equity right reflected by the Investment Amount contemplated in the JV Agreement, the Party A shall be issued additional Equity
rights of the Company, for no consideration (other than the par value), based on a broad based weighted average formula as follows:

 

For Example:

 

Original Number of Equity
rights issued to Party A = 49

 

Original Number of Equity rights issued to all Parties = 100

 

Original Price Per Equity Right paid by Party A = 2

 

New Price Per Equity Right paid by Third Party = 1.75

 

New Number of Equity Rights Issued to Third Party = 50

 

(100X2) + (1.75X50) = 287.5 : (100+50) = 1.916

 

Anti dilution protection
for Party A will be:

 

49 x 2 = 98

 

98 : 1.916 = 51.14

 

51.14 : (100+ 50) = 34.09%

 

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		Article 20.	Party A’s Liquidation Preference

 

		a.	Upon an event of any liquidation, dissolution or winding
up of the Company, and upon a Deemed Liquidation event as defined below, Party A shall be entitled to be paid out of the assets
legally available for distribution to Company equityholders, before any payment to any other equityholder by reason of their ownership
thereof, an amount in cash equal to that part of the Investment Amount that was actually transferred to the Company. The remaining
assets legally available for distribution to Company equityholders shall be distributed to all Company equityholders in proportion
to the number of Company Equity rights then held by them. The Company and Party B shall use their best efforts (and in the case
of Party B this shall include the use of all its powers in the Company, including the right to appoint and dismiss directors and
officers) to procure that no such transaction will occur unless Party A’s liquidation preference is observed.

 

		b.	An Exit Event will
                                         be treated as a liquidation event thereby triggering payment of the liquidation preference
                                         described above (“Deemed Liquidation Event”).

 

		c.	In the event that due to Chinese Law, Party A’s
preference rights may not be exercised as indicated herein, the Company and its Equityholders shall undertake to introduce an
alternative contractual vehicle that will ensure a similar economic outcome to Party A.

 

		Article 21.	Ratio of Profit Distribution. The Company is liable
to all responsibilities against external parties as limited by the total assets of the Company, and each of the Equityholders
shall take up limited liability of the Company according to its respective investment in the Company. The Equityholders shall
share the profit, undertake the risk and loss as stipulated in these Articles, in accordance with the pro-rated holdings of each
of the Equityholders in the Company (subject to any other contractual arrangement between the Equityholders). Between the Equityholders
and the Company, each Equityholders shall not mutually undertake any associated responsibilities of the other Equityholders and
shall not bind the other Equityholders.

 

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		Article 22.	Equity right Option Plan. 5% of the Company’s
equity right capital will be reserved for an employee equity right option plan. There shall be neither voting rights nor preemptive
rights for Equity rights issued upon exercise of such options (until an IPO).

 

Chapter IV

 

The Board and Supervisor of the Company

 

		Article 23.	The Board. The Board shall be responsible for determining
the overall policies and objectives of the Company and to supervise the activities of the management of the Company, as further
described herein. All rights and powers not otherwise granted to the management of the Company under any applicable law or by
contract, shall vest with the Board.

 

		Article 24.	Duties of the Board. The duties and powers of the
Board include but are not limited to:

 

		a.	Approve the annual budget and financial statements
of the Company;

 

		b.	Determine the overall policies and objectives of the
Company;

 

		c.	Appoint, dismiss and supervise the management and
other personnel of the Company;

 

		d.	Appoint the accountants and auditors of the Company;

 

		e.	Take all decisions on behalf of the Company, as specified
herein; and

 

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		f.	Other authorities stipulated by the Articles of Association
or by any applicable laws and regulations in China.

 

		Article 25.	Members of the Board

 

		a.	The Board consists
                                         of six (6) members, three (3) directors to be appointed by the Party A (the “Party
                                         A Directors”) and three (3) directors to be appointed by Party B (the “Party
                                         B Directors”) (all of the directors shall be collectively referred to as the
                                         “Directors”). In the event, however, that Party A fails to pay a portion
                                         of the required Milestone Payment, in the event such Milestone Payment has been triggered,
                                         and its proportion of equity right ownership of the Company’s Equity rights is
                                         reduced accordingly under the JV Agreement, each one-third reduction of such equity right
                                         ownership shall cause Party A to forfeit the right to appoint one (1) director, and Party
                                         B shall have the right to appoint each such director in its place.

 

		b.	by notice in writing to the Company by the Equityholder
entitled to appoint such Director, as set forth above. A Director shall only be dismissed and/or replaced by the Equityholder
that appointed him/her subject to Article 25a) above. The term of office of the Directors will be renewed every three (3) years.

 

		c.	The Chairperson of the Board shall preside at every
meeting of the Board. The Chairperson of the Board shall be one of the Directors appointed by Party B, The Vice Chairperson of
the Board shall be appointed by Party A. If at any meeting the Chairperson is not present within fifteen (15) minutes of the time
fixed for the meeting, the Directors present shall choose someone to be the Chairperson of such meeting. Subject to the protective
provisions set forth in Article 28, the Chairperson shall be entitled to an additional or casting vote in a Board meeting. The
duties and responsibilities of the Chairperson and Vice Chairperson, are as further described in this Articles of Association.

 

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		d.	A Director may appoint an alternate for a specific matter or for a certain meeting by issuance
of notice in this regard to the Company at least two (2) days prior to the date of the Board meeting. If a Director serves as an
alternate for one or more additional directors, he/she shall have the number of votes equal to the number of directors he/she represents.

 

		e.	None of the Directors or alternate Directors shall be entitled to receive from the Company any
remuneration for their services as Directors.

 

		Article 26.	Meetings
of the Board.

 

		a.	Meetings of the Board shall be convened by prior written notice of not less than ten(10) days,
specifying the date and time (which must be reasonable to all members of the board taking into consideration different time zones,
applicable public holidays and rest days), place and agenda of the meeting, which shall be given to all Directors and their alternates.
Said notice may be waived or shortened upon the agreement in writing of all Directors. The Board will convene at least once a year.
The chairperson of the Board may convene a meeting of the Board at the request made by more than one-third of the directors. Unless
otherwise agreed in writing by all directors, the Board meetings shall be held at the GDD.

 

		b.	Any action of the Board consented to in writing (including via facsimile or e-mail) by all the
Directors shall be valid as if so voted upon at a Board meeting duly called and held.

 

		c.	The Board shall be allowed to hold meetings using any means of telecommunication, provided that
all Directors participating in the meeting can speak simultaneously and hear and be heard by all other Directors participating
in the meeting, and provided further that the minutes of said meetings are thereafter signed by the Chairperson and Vice Chairperson
of the meeting.

 

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		d.	The legal quorum necessary for the holding of a meeting of the Board is the presence, either in
person or by proxy, of at least2/3 of the appointed Directors in office at that time, subject to applicable laws.

 

		e.	If within half an hour of the time
                                         for the scheduled meeting, a legal quorum is not present, the meeting shall be postponed
                                         by one (1) working day and shall be held at the same place and time (“First
                                         Adjourned Meeting”). A quorum for such First Adjourned Meeting of the Board
                                         shall be 2/3 of the Directors present either in person or by proxy, and in the absence
                                         of a quorum, then a second adjourned meeting will be convened, within one (1) working
                                         day from the date of the First Adjourned Meeting, and shall be held at the same place
                                         and time (“Second Adjourned Meeting”). Quorum at the Second Adjourned
                                         Meeting shall be 2/3 of the Directors that are present, either in person or by proxy.
                                         In the absence of a legal quorum at the Second Adjourned Meeting, the absentee Director
                                         will grant a proxy to one of the Directors that is present.

 

		f.	Subject to the protective provisions
contained in Article 28below and the Chairperson’s casting vote, each of the Directors shall have an equal voting right,
on every resolution, without regard to whether the vote thereon is conducted by a show of hands, by written ballot or by any other
means.

 

		Article 27.	Voting
                                         Rules for the Board. Subject to the protective provisions contained in Article
                                         28 below, any decision, action or resolution of the Board, shall be taken by a simple
                                         majority vote, subject to the Chairperson’s casting vote, as applicable, provided
                                         however, that in accordance with applicable Law, any decisions on the following matters
                                         shall be made only after being unanimously agreed upon by the directors present at the
                                         Board meeting:(1) Amendment of the Articles;(2) Termination and dissolution of the Company;(3)
                                         Increase or reduction of the registered capital of the Company;(4) Merger or division
                                         of the Company.

 

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		Article 28.	Protective Provisions

 

Notwithstanding anything to the
contrary stated in these Articles, and subject to the Payment Default provision in JV Agreement Article of 12.1.5, any decision,
action or resolution of the Company taken by the Board with respect to the following matters shall require the affirmative vote
or written consent of at least one of the Party A Directors, as applicable:

 

		a.	The making of any loan or advance to, or ownership of any stock or other securities of, any subsidiary
or other corporation, partnership, or other entity;

 

		b.	The making of any loan or advance to any person, including, any employee or director, except advances
and similar expenditures in the ordinary course of business or under the terms of an employee stock or option plan approved by
the Board;

 

		c.	A guarantee any indebtedness except for trade accounts of the Company or any subsidiary arising
in the ordinary course of business;

 

		d.	The making of any investment inconsistent with any investment policy approved by the Board;

 

		f.	The incurring of any aggregate indebtedness in excess of 25% of the annual budget that is not already
included in a Board-approved budget;

 

		g.	The entering into, or becoming a party, to any transaction with any director, officer or employee
of the Company or any other related party, or to any transaction in which a related party has an interest;

 

		h.	The change of the principal business of the Company, entering new lines of business, or exiting
the current line of business;

 

		i.	To sell, assign, license, pledge or encumber material technology or intellectual property, other
than licenses granted in the ordinary course of business; or

 

    	18

     

    

 

		i.	The entering into any corporate strategic relationship involving the payment contribution or assignment
by the Company or to the Company of assets greater than the equivalent of US$l million;

 

		j.	Any changes to the Company’s
signatory rights;

 

		k.	liquidate, dissolve or wind up the affairs of the Company, or effect any merger or consolidation
or any other Deemed Liquidation Event (as defined herein);

 

		l.	amend, alter, or repeal any provision of any of the Company’s incorporation documents;

 

		m.	create, authorize the creation of, or issue any other security of the Company;

 

		n.	pay any dividend excluding dividend to be paid in accordance with the Dividend Policy described
below;

 

		o.	create or hold capital stock in any subsidiary that is not a wholly-owned subsidiary or dispose
of any subsidiary stock or all or substantially all of any subsidiary assets;

 

		p.	increase or decrease the size of the Board; or

 

		q.	approve of a reorganization or an IPO of the securities of the Company, a sale of all or substantially
all of the assets of the Company, or a merger of the Company or any Deemed Liquidation Event (as such terms are defined herein).

 

		Article 29.	Committees of the Board. Subject to applicable law, the Board may delegate any or all
                                                                                              of its powers to committees, each consisting of two or more persons (all of whose members must be Directors), and it may from
                                                                                              time to time revoke such delegation or alter the composition of any such committee. Any committee so formed, shall, in the
                                                                                              exercise of the powers so delegated, conform to any regulations imposed on it by the Board. The meetings and proceedings of
                                                                                              any such committee shall, mutatis mutandis, be governed by the provisions herein contained for regulating the meetings of the
                                                                                              Board, so far as not superseded by any regulations adopted by the Board under this Article 29. Unless otherwise expressly
                                                                                              provided by the Board in delegating powers to a committee, such committee shall not be empowered to further delegate such
                                                                                              powers.

 

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		Article 30.	Supervisor of the Company

 

		a.	The Company shall not have a supervisory
                                         committee, but shall appoint a supervisor (the “Supervisor”). Supervisor
                                         shall be appointed by both Party A and Party B. The term of appointment of the Supervisor
                                         shall be three (3) years. When the term expires, the Supervisor may be re-elected and
                                         reappointed by Party A and Party B. .Directors and senior management staff shall not
                                         assume the position of a Supervisor.

 

		b.	The role of the Supervisor (or supervisors in case more than one is appointed) shall include the
following responsibilities:

 

		i.	Check the financial affairs of the Company.

 

		ii.	Supervise the acts of senior management personnel, Directors, and recommend to the Board on corrective
actions regarding Directors and senior management personnel.

 

		iii.	Propose to convene temporary meetings of the Board, and bring forward proposals at meetings of
the Board.

 

		iv.	The Supervisor shall be invited to attend all meetings of the Board as a non-voting attendee, and
may raise questions or suggestions about the meeting agenda discussed by the Board.

 

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Chapter V

 

Company Employees

 

		Article 31.	Labor Matters. The employees recruitment, dismissal,
wages and salaries, welfare, labor insurance, retirement insurance, labor discipline and other matters of the Company shall be
executed in accordance with the “Labor Laws of the People’s Republic of China”, “Labor Contract Laws of
the People’s Republic of China and the implementation practices as formulated by the various levels of the responsible authorities.
It shall be autonomously decided by the Company without any interference from external parties. The Company shall sign the labor
contract with the employees of the Company on an individual basis, and the labor contract shall be filed with the relevant responsible
authorities for recording purposes.

 

		Article 32.	Wages. The standard of wages and salaries, the form
of wages and other systems, and the bonus and subsidies for the staff shall be determined by the Board.

 

		Article 33.	Taxation. In case the annual executive management
fee received by any one of the executive management Staff appointed by the Equityholders of the Company or appointed by any respective
parties is subject to any tax (including personal income tax), it shall be the sole responsibility of and paid by such executive
management personnel.

 

Chapter VI

 

Finance, Accounting and Auditing

 

		Article 34.	Company Financial and Accounting System. The financial
and accounting system of the Company shall be in accordance with the “Enterprise Accounting System”.

 

		Article 35.	Annual Financial Report. Before the end of January
of each fiscal year, the Chief Financial Officer shall according to the audited financial reports compile a report for the distribution
of the profit of the preceding fiscal year, in accordance with the dividend policy described below, and submit it to the Board
for resolution.

 

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		Article 36.	Annual Budget. During the last quarter of each fiscal
year, the Chief Financial Officer shall compile the financial budget for the coming fiscal year, and submit it to the Board for
resolution.

 

		Article 37.	Fiscal Year. The fiscal year of the Company is from
the first (1st) of January to the thirty-first (31st) of December of each calendar year. All the vouchers,
receipts, reports and account keeping books shall be written in Chinese with an English translation.

 

		Article 38.	Official Currency for Accounts. The Company shall
adopt Renminbi as the accounts keeping unit. In case of receipts or payments in foreign currency, it shall concurrently be recorded
in foreign currency.

 

		Article 39.	Company Auditors. The Company shall employ a Chinese
registered accountant to undertake the financial audit of the Company, and the audited reports of the financial statements for
the preceding fiscal year shall be submitted to the Chief Financial Officer by the end of January of each year. The Chinese accountants
and auditors of the Company will be mutually agreed by the Parties, provided it is one of the Chinese offices of the “Big-4”
accounting firms (i.e. PWC, Deloitte, EY and KPMG).

 

		Article 40.	Review of Company Books and Records. The Company
shall accept the examination and scrutiny of the financial revenues and expenditures, and the accounting books of the Company
by the auditing authorities of the government. The Equityholders shall have the right to recruit auditors to audit the accounting
books and operating conditions of the Company at their own expense. During the audit the Company shall provide all necessary assistance.

 

		Article 41.	Company Bank Accounts. The Renminbi account and
foreign exchange account opened by the Company in the bank in China shall be managed by the Company. The collection, payment and
clearance business of the Renminbi and foreign exchange of the Company shall be handled by the relevant banking institution, and
the conditions offered by that bank shall be more preferential or at least equal to its competitors.

 

    	22

     

    

 

 

		Article 42.	Complete Books and Records. At all times the Company
shall keep proper and complete books of account, in which shall be entered fully and accurately the transactions of the Company
in accordance with applicable law.

 

		Article 43.	Financial Rules. Financial Rules will be mutually
agreed by the Parties and adopted by the Company subject to the approval of the Board.

 

		Article 44.	Equityholders’ Information Rights. Each major
Equityholder holding above 15% (“Major Equityholders”) will be granted access to the Company facilities and
personnel during normal business hours and with reasonable advance notification for the purpose of monitoring such equityholder’s
investment in the Company. The Company will deliver to each Major Equityholder the following reports:

 

		a.	An annual audited financial reports, within [90] days after the end of every calendar year;

 

		b.	A quarterly financial reports, within [60] days after the end of every calendar quarter;

 

		c.	A monthly financial statements, within 10 (ten) days after the end of every calendar month;

 

		d.	Any other information as shall be determined from time to time by the Board;

 

		e.	Thirty (30) days prior to the end of each fiscal year, a comprehensive operating budget
forecasting the Company’s revenues, expenses, and cash position on a month-to-month basis for the upcoming fiscal
year and an update to the Business Plan (including its extension to an additional year); and

 

		f.	Promptly following the end of each quarter, an up-to-date capitalization table.

 

    	23

     

    

 

		Article 45.	Policies and Procedures. As part of its operations
the Company will put in place from time to time such procedures and policies (including human resource policy, risk management
policy, financial management regulations, foreign exchange matters, Board meeting procedures, etc.) as shall be further expanded
by the Board.

 

Chapter VIII

 

Operating Term

 

		Article 46.	Term of Operations. The Company’s term shall
be twenty (20) years (the “Term”).Subject to the approval of relevant authorities, the Term may be extended by consent
of all equity rightholders of the Company.

 

Chapter IX

 

Dissolution, Liquidation and Handling
of Assets

 

		Article 47.	On the day after obtaining the approval from the original
examination and approval authorities for dissolution, the Company shall start the liquidation, and the Board shall organize a
Liquidation Committee to undertake liquidation of the debts, rights and assets of the Company. The liquidation of the Company
shall be undertaken in accordance with the regulations in the JV Agreement, these Articles of Association and the related laws.

 

		Article 48.	In case the Company is dissolved pursuant to the provisions
of the JV Agreement, the Board shall form a Liquidation Committee within 15 (fifteen) days from the date of dissolution. The members
of the Liquidation Committee shall be appointed from the existing Directors or be taken up by employed professional staff. The
Liquidation Committee shall exercise the following scope of authorities during the period of liquidation:

 

    	24

     

    

 

		a.	Clean up the property of the Company, compile the balance sheet and inventory list of the property,
and formulate the liquidation plan.

 

		b.	Inform the unidentified creditors through announcement in public notice, inform the identified
creditors through written notice.

 

		c.	Handle the non-ending operation of the Company.

 

		d.	Propose the methods of evaluation and handling of the property.

 

		e.	Pay outstanding taxes.

 

		f.	Clean up the creditors’ rights and debts.

 

		g.	Handle the remaining property of the Company after repaying the debts.

 

		h.	Represent the Company to participate in civil claims proceedings.

 

		i.	Other duties or powers as required or authorized by related laws.

 

		Article 49.	The liquidation plan formulated by the Liquidation Committee
shall be endorsed by the Board, and then submitted to the original examination and approval authorities for record purpose.

 

		Article 50.	After paying the liquidation fee and repaying all outstanding
debts, the remaining properties shall be distributed according to the proportion of the investment on the registered capital by
Parties, all subject to the provisions of Article 20 (Liquidation Preference) of this Articles of Association.

 

		Article 51.	After the Liquidation Committee has completed all the tasks
as specified in the liquidation plan, it shall compile a liquidation report. After endorsement by the Board, the liquidation report
shall be submitted to the original examination and approval authorities for record purpose.

 

    	25

     

    

 

		Article 52.	After filing the liquidation report with the original examination
and approval authorities, the Liquidation Committee shall be responsible for handling the tax, customs, de-registration of the
industry and commerce identity and announce the termination of the Company through public notice.

 

Chapter X

 

Management

 

		Article 53.	Managers. The Company shall adopt a management system under
which the General Manager shall be responsible to and under the leadership of the Board.

 

		Article 54.	The General Manager, the Finance Manager, the Operation
Manager and the Technical Manager shall be nominated by Party B, subject to the prior written consent of Party A, and appointed
by the Board.

 

		Article 55.	Terms of Office and Dismissal. The terms of office of the
General Manager and other senior management personnel shall normally be three (3) years, or as otherwise determined by the Board.
They may be dismissed at any time by a resolution of the Board, subject to their personal labor agreements.

 

		Article 56.	Responsibilities and Powers of the General Manager. The
duties of the General Manager shall consist of carrying out the decisions of the Board and organising, directing and deciding
all matters relating to the day-to-day operation and management of the Company, and achieving the operation target determined
by the Board. Within the limitations specified in these Articles of Association, the JV Agreement, and as may be determined by
the Board, the General Manager shall represent the Company in all matters concerning its day-to-day operations and management.

 

    	26

     

    

 

		Article 57.	The Company’s Executive Management Staff (the “Executive
Management Staff”) may include one Chief Executive Officer, one Deputy CEO, one Chief Financial Officer and, one Managing
Director. All appointed candidates of the Equityholders shall be employed by the Board.

 

		Article 58.	The term of the Executive Management Staff is three (3)
years. The Executive Management Staff may, after the expiry of their term of office, hold a consecutive term upon re-employment.

 

		Article 59.	The Executive Management Staff may concurrently serve as
the Directors of the Board.

 

		Article 60.	The other management staff of the Company other than the
Executive Management Staff shall be openly recruited in the local area or from other locations in China, overseas or recommended
by the Equityholders.

 

		Article 61.	For the Executive Management Staff hereof described in
this Chapter, in case of abuse of power, pursuit of personal gain, graft and corruption, dereliction of duty or participation
in activities detrimental to the benefits of the Company, with resolution of the Board, he shall be dismissed or ceased from duty
at any time. In case it causes economic damages to the Company, he shall bear the responsibility of compensation.

 

		Article 62.	If any Executive Management Staff is dismissed by the Board
or ceases to serve as an Executive Management Staff member for any other reason, the original recommending Equityholder shall
recommend the successor for the appointment of the Board, and the Board will approve such recommendation.

 

    	27

     

    

 

Chapter XI

 

Supplementary Articles

 

		Article 63.	Amendments to the Articles of Association. The amendment
to the Articles of Association shall be unanimously agreed and decided by the Board and submitted to the registeration authority
for approval.

 

		Article 64.	Submission of the Articles of Association. Where
the Articles of Association are legally required to be submitted to registration authority, it shall come into force upon obtaining
such approval.

 

		Article 65.	General. Matters uncovered by the Articles of Association
shall be governed in accordance with the JV Agreement, resolutions of the Board, and applicable laws and regulations of People’s
Republic of China.

 

    	28

     

    

 

(Signature Page of the Articles of Association)

 

	Guangzhou
    InMode Medical Technology Ltd.	 
	 	 	 
	By:		
	 	                   	 
	Name:	 	 
	 	 	 
	Title:	 	 
	 	 	 
	Date:	 	 
	 	 
	Signature
    of equityholders:	 
	 	 
	Guangzhou
    Sino-Israel Bio-Industry Investment Fund (LLP)	 
	 	 
	By its
    General Partner, Guangzhou Elim Biotech Industrial Venture Capital Management Company	 
	 	 	 
	By:		
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 
	 	 
	Invasix
    Ltd.	 
	 	 	 
	By:	         	
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 

 

Signature page AoA

 

    	29

     

    

 

19.1.9

 

Indemnification
Agreement

 

     

     

    

 

FORM OF DIRECTOR INDEMNIFICATION AGREEMENT

Guangzhou InMode Medical
Technology Ltd,

 

 

 

INDEMNIFICATION AGREEMENT

 

This Indemnification Agreement
(the “Agreement”) is effective as of January 11, 2017, by and between Guangzhou InMode Medical Technology
Ltd., a company incorporated under the laws of the Peoples Republic of China, with its principal offices at Unit 103-1,
1st Floor, No. 6, Luoxuan 3 rd. International Bio-Island, Guangzhou, Guangdong, China (the “Company”), and Mr.
Alon Yaari, Nationality its Israeli, I.D. number 032240673, residing at 4/A Hapnina St., Zichron Yaakov, Israel (the
 “Indemnitee”).

 

Recitals

 

		A.	The
                                         Company and Indemnitee recognize the difficulty in obtaining full and adequate liability
                                         insurance for directors, officers, employees, agents and fiduciaries, the significant
                                         increases in the cost of such insurance and the general reductions in the coverage of
                                         such insurance;

 

		B.	The Company and Indemnitee further recognize the substantial
increase in corporate litigation in general, subjecting directors, officers, employees, agents and fiduciaries to expensive litigation
risks at the same time as the availability and coverage of liability insurance have been severely limited;

 

		C.	The Company desires to attract and retain the services
of highly qualified individuals, such as the Indemnitee, to serve the Company and, in part, in order to induce the Indemnitee
to continue to provide services to the Company, wishes to provide for the indemnification and advancement of expense to the Indemnitee,
to exempt the Indemnitee from liability to the Company, and agree to procure reasonable insurance coverage, all of the foregoing
to the Maximum extent permitted by law; and

 

		D.	In view of the considerations set forth above, the Company
desires that Indemnitee shall be indemnified and exempted by the Company, and enjoy appropriate insurance coverage, all as set
forth herein.

 

Now, therefore, the Company and the
Indemnitee hereby agree as follows:

 

     

     

    

 

		1.	Indemnification

 

1.1          Indemnification
of Liabilities and Expenses. The Company shall indemnify the Indemnitee to the fullest extent permitted by law and subject
to the limitations set forth in paragraph 1.2, with respect to the following liabilities and expenses imposed on or incurred by
the Indemnitee due to an act or omission by the Indemnitee in his capacity as a director, of the Company, or any subsidiary thereof
(regardless whether it is a subsidiary of the Company at the date hereof), or as a director, officer, employee, agent or fiduciary
of another corporation, collaboration, partnership, joint venture, trust or other enterprise, serving at the request of the Company
(the “Corporate Capacity”): (i) any financial obligation imposed on the Indemnitee in favor of another person by, or expended
by the Indemnitee as a result of, a court judgment, including a settlement or an arbitrator’s award approved by court, by reason
of or arising in connection with any Indemnifiable Event (as defined below); (ii) any and all reasonable litigation expenses
(including attorneys’ fees) and all other costs, expenses and financial obligations (collectively, “Expenses”) incurred
by the Indemnitee or charged to the Indemnitee by court in connection with a proceeding instituted against the Indemnitee
by the Company or on its behalf or by another person, or in any criminal proceedings in which Indemnitee is acquitted, or in any
criminal proceedings of a crime which does not require proof of mens rea (criminal intent) in which Indemnitee is convicted;
and (iii) all Expenses expended by the Indemnitee due to an investigation or a proceeding instituted against the Indemnitee by
an authority qualified to conduct such investigation or proceeding, where such investigation or proceeding is concluded without
the filing of an indictment against the Indemnitee and without any financial obligation imposed on the Indemnitee in lieu of criminal
proceedings, or that is concluded without the Indemnitee’s indictment but with a financial obligation imposed on Indemnitee in
lien of criminal proceedings with respect to a crime that does not require proof of mens rea (criminal intent). Such payments
of Expenses shall be made by the Company as soon as practicable but in any event no later than fifteen (15) days after written
demand by the Indemnitee therefor is presented to the Company.

 

1.2.         Indemnifiable
Event; Limit Amounts. For the purpose of this Agreement, an “Indemnifiable Event” shall mean any event or occurrence
falling all or in part within any one or more of the categories set forth below. Indemnification pursuant to paragraph
1.1(i) with respect to each such Indemnifiable Events described below is limited to US$1,000,000 (the “Limit Amount”).
The Limit Amount shall be subject to continuing review and consideration by the Company, and may be amended, if the Board of Directors
determines that such Limit Amount is unreasonable in the circumstances, including if it is less than the financial obligation
or Expenses which can be expected to be incurred by the Indemnitee in connection with the corresponding Indemnifiable Event. If
the Limit Amount is insufficient to cover all amounts to which the Indemnitee and all other persons to whom the Company has agreed
to indemnify for the matters and in the circumstances described herein. then such amount shall be allocated to such persons pro
rata according to the percentage of their culpability, as finally determined by a court in the relevant claim, or, absent
such determination or in the event such persons are parties to different claims, in equal amounts.

 

     

     

    

 

The Indemnifiable
Events are described as follows:

 

		a)	Any claim or demand made by customers, suppliers, contractors
or other third parties transacting any form of business with the Company or its subsidiaries, in the ordinary course of their
respective businesses, relating to the negotiations or performance of such transactions, representations or inducements provided
in connection thereto or otherwise,

 

		b)	Any claim or demand made in connection with any transaction not in the ordinary course of business
of either the Company, its subsidiaries or the party making such claim, including the sale, lease or purchase of any assets or
business.

 

		c)	Any claim or demand made by employees, consultants, agents
or other individuals or entities employed by or providing services to the Company or its subsidiaries relating to compensation
owed to them or damages or liabilities suffered by them in connection with such employment or service.

 

		d)	Any claim or demand made under any securities laws of any
jurisdiction and/or any stock exchange rules and regulations of any jurisdiction or by reference thereto, or related in the failure
to disclose any information in the manner or time such information is required to be disclosed pursuant to such laws, or related
to inadequate or improper disclosure of information to shareholders, or prospective shareholders, or related to the purchasing,
holding or disposition of securities of the company or any other investment activity involving or affected by such securities,
including any actions relating to an offer or issuance of securities of the Company or of its subsidiaries to the public by prospectus
or privately by private placement, in Israel or abroad, including the details that shall be set forth in the documents in connection
with execution thereof,

 

		e)	Any claim or demand
                                         made for actual or alleged infringement, misappropriation or misuse of any third party’s
                                         intellectual property rights by the Company or its subsidiaries, including without limitation
                                         confidential information, patents, copyrights, design rights, service marks, trade secrets,
                                         copyrights, misappropriation of ideas by the Company or its subsidiaries.

 

     

     

    

 

		f)	Actions taken in connection with the intellectual property
of the Company and any subsidiary, and its protection, including the registration or assertion of rights to intellectual property
and the defense of claims relating thereto.

 

		g)	Any claim or demand made by any lenders or other creditors or for moneys borrowed by, or
other indebtedness of, the Company or its subsidiaries.

 

		h)	Any claim or demand made by any third party suffering any personal injury and/or bodily injury
or damage to business or personal property through any act or omission attributed to the Company or its subsidiaries, or their
respective employees, agents or other persons acting or allegedly acting on their behalf.

 

		i)	Any claim or demand made directly or indirectly in connection with complete or partial failure,
by the Company or any subsidiary thereof, or their respective directors, officers and employees, to pay, report, keep applicable
records or otherwise, of any foreign, federal, state, county, local, municipal or city taxes or other compulsory payments of any
nature whatsoever, including, without limitation, income, sales, use, transfer, excise, value added, registration, severance,
stamp, occupation, customs, duties, real property, personal property, capital stock, social security, unemployment, disability,
payroll or employee withholding or other withholding, including any interest, penalty or addition thereto, whether disputed or
not.

 

		j)	Any claim or demand made by purchasers, holders, lessors or other users of products of the Company,
or individuals treated with such products, for damages or losses related to such use or treatment.

 

		k)	Any administrative, regulatory or judicial actions orders, decrees, suits, demands, demand letters,
directives, claims, liens, investigations, proceedings or notices of noncompliance or violation by any governmental entity or other
person alleging potential responsibility or liability arising out of, based on or related to (x) the presence of, release, spilt,
emission, leaning, dumping, pouring, deposit, disposal, discharge, leaching or migration into the environment (each a “Release”)
or threatened Release of, or exposure to, any hazardous, toxic, explosive or radioactive substances, wastes or other pollutants,
including petroleum or petroleum distillates, asbestos or asbestos-containing material, polychlorinated biphenyls (“PCBs”)
or PCB-containing materials or equipment, radon gas, infectious or medical wastes and all other substances or wastes of any nature
regulated pursuant to any environmental law, at any location, whether or not owned, operated, leased or managed by the Company
or any of its subsidiaries, or (y) circumstances forming the basis of any violation of any environmental law or environmental permit,
license, registration or other authorization required under applicable environmental law.

 

     

     

    

 

		l)	Any administrative, regulatory or judicial actions, orders,
decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance or
violation by any governmental entity or other person alleging the failure to comply with any statute, law, ordinance, rule, regulation,
order or decree of any governmental entity applicable to the Company or any of its subsidiaries, or any of their respective businesses
or operations.

 

		m)	Participation, and/or non-participation at the Company’s
board meetings, incompliance regarding the substance and the process of reaching board resolutions, bona fide expression of opinion
and/or voting and/or abstention from voting at the Company’s board meetings.

 

		n)	Approval of corporate actions including the approval of
the acts of the Company’s management, their resolutions, guidance and their supervision.

 

		o)	Claims of failure to exercise business judgment and a reasonable
level of proficiency, expertise, care and other forms of fiduciary duties and duties of loyalty in regard of the Company’s
business, as required under applicable laws.

 

		p)	Resolutions and/or actions relating to a merger of the
Company and/or of its subsidiaries, the issuance of shares or securities exercisable into shares of the Company, changing the
share capital of the Company, formation of subsidiaries, reorganization, winding up or sale of all or part of the business,
operations or shares of the Company.

 

1.3.         Mandatory
Payment of Expenses. Notwithstanding any other provision of this Agreement other than Section 7 hereof, to the extent
that the Indemnitee has been successful on the merits or otherwise, including, without limitation, the dismissal of an action
without prejudice, in defense of any action, suit, proceeding, inquiry or investigation referred to in Section 1.1 hereof or
in the defense of any claim, issue or matter therein, the Indemnitee shall be indemnified against all financial obligations
and Expenses incurred by the Indemnitee in connection therewith.

 

     

     

    

 

		2.	Indemnification Procedure

 

2.1.         Notice;
Cooperation by Indemnitee. The Indemnitee shall, as a condition precedent to the Indemnitee’s right to be indemnified under
this Agreement, give the Company notice in writing as soon as practicable of any claim made against the Indemnitee for which indemnification
will or could be sought under this Agreement, provided, however, that any failure to provide such notice shall not affect the Indemnitee’s
rights to indemnification hereunder unless and to the extent that such failure to provide notice materially and adversely prejudices
the Company’s right to defend against such action. Notice to the Company shall be directed to the Chairman of the Company’s
Board of Directors at the address shown on the signature page of this Agreement (or such other address as the Company shall designate
in writing to the Indemnitee). In addition, the Indemnitee shall give the Company such information and cooperation as it may reasonably
require and as shall be within the Indemnitee’s power.

 

2.2.         No
Presumptions; Burden of Proof. For purposes of this Agreement, the termination of any claim by judgment, order, settlement
(whether without court approval) or conviction, or upon a plea of guilty, shall not create a presumption that the Indemnitee did
not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification
is not permitted by applicable law.

 

2.3.         Notice
to Insurers. If, at the time of the receipt by the Company of a notice of a claim the Company has liability insurance in effect
which may cover such claim, the Company shall give prompt notice of the commencement of such claim to the insurers in accordance
with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to
cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such action, suit, proceeding, inquiry
or investigation in accordance with the terms of such policies.

 

2.4.         Selection
of Counsel. In the event that the Company shall be obligated to indemnify the Indemnitee and/or pay the Expenses of any claim,
and the proceedings have not been initiated against the Indemnitee by the Company or on its behalf; then the Company shall be
entitled to assume the defense of such claim with counsel selected by the Company, which counsel is reasonably reputable with
experience in the relevant field, and the Company will not be liable to the Indemnitee under this Agreement for any fees of counsel
subsequently incurred by Indemnitee with respect to the same claim; The Company shall and shall cause the counsel retained by
it to take all necessary steps to bring the claim to a close and will keep the Indemnitee informed of key steps in the process.
The counsel retained by the Company to conduct the defense pursuant to this Section shall be bound by a fiduciary duty to the
Indemnitee and to the Company, The Company shall have the right to conduct such defense as it sees fit in its sole discretion.

 

     

     

    

 

3.           Additional
Indemnification Rights; Non-exclusivity. In the event of any change after the date of this Agreement of any applicable law, statute
or rule which expands the right of a corporation of the Company’s state of incorporation to indemnify a member of its board of
directors or an officer, employee, agent or fiduciary, it is the intent of the parties hereto that the Indemnitee shall enjoy by
this Agreement the greater benefits afforded by such change.

 

4.           No
Duplication of Payments. The Company shall not be liable under this Agreement to make any payment in connection with any claim
made against Indemnitee to the extent the Indemnitee has otherwise actually received payment (under any insurance policy, the Articles
of Association or otherwise) of the amounts otherwise indemnifiable hereunder, except for the difference, if any, between the amounts
received by the Indemnitee as aforesaid and the total obligations, liabilities and/or Expenses incurred by the Indemnitee in connection
with such claim. The Company will be entitled to receive any amount collected by Indemnitee from a third party in connection with
liabilities actually indemnified hereunder, to be transferred by the Indemnitee to the Company within fifteen (15) days following
the receipt of said amount. Any amount received from D&O Insurance (as defined below) shall not be deducted from the Limit
Amount hereunder.

 

5.           Partial
Indemnification. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some
or a portion of the obligations, liabilities and/or Expenses incurred in connection with any claim, but not, however, for all of
the total amount thereof, the Company shall nevertheless indemnify the Indemnitee for the portion of such obligations, liabilities,
and/or Expenses to which the Indemnitee is entitled.

 

6.           Exemption.
To the maximum extent permitted by law, the Company hereby exempts and releases Indemnitee from any and all liability to the Company
related to any breach by the Indemnitee of his or her duty of care to the Company, subject to the provisions of Section 7.1 below
and provided that in no event shall the Indemnitee be exempted in advance for a breach of his duty of care to the Company in a
distribution.

 

7.           Exceptions.
Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:

 

7.1.         Excluded
Acts and Omissions. To the extent it is prohibited under applicable law, to indemnify, insure or exempt Indemnitee from or
against any liability arising out of: (i) the Indemnitee’s breach of fiduciary duty (other than, in case of insuring the Indemnity,
a breach of fiduciary duty to the Company, provided that the Indemnitee has acted or omitted to act in good faith and had reasonable
ground to believe such action will not prejudice the Company’s interests), (ii) intentional or reckless beach by the Indemnitee
of his or her duty of care to the Company, but other than if done in negligence only, or (iii) the indemnitee’s action
taken with the intention to unduly profit therefrom, and (iv) any fine or penalty payment to propitiate an offense imposed on
the Indemnitee.

 

     

     

    

 

7.2.          Claims
Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to claims initiated or brought
voluntarily by the Indemnitee and not by way of defense, except: (i) with respect to proceedings brought to establish or enforce
a right to indemnification under this Agreement or any other agreement or insurance policy or under the Company’s Articles
of Association now or hereafter in effect relating to claims for indemnification, release, exemption or insurance of the Indemnitee
by reason of his Corporate Capacity, (ii) in specific cases if the Board of Directors has approved the initiation or bringing
of such suit, or (iii) as otherwise required under the laws of the Company’s place of incorporation, regardless of whether the
Indemnitee ultimately is determined to be entitled to such indemnification, advance expense payment of insurance recovery, as
the case may be;

 

8.            Required
Approvals. If for the validation of any of the undertakings in this Agreement any act, resolution, approval or other procedure
is required, the Company undertakes to cause them to be done or adopted in a manner which will enable the Company to fulfill all
its undertakings as aforesaid.

 

9.            Post
Factum Indemnity. Nothing contained in this Agreement derogates from the Company’s right to indemnify the Indemnitee post
factum for any amounts which the Indemnitee may be obligated to pay as set forth in Section 1.1 above without the limitations set
forth in Section 1.2 above.

 

10.          Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall constitute an original.

 

11.          Binding
Effect; Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties
hereto and their respective successors, assigns, including any direct or indirect successor by purchase, merger, consolidation
or otherwise) to all, or substantially all the business and/or assets of the Company, spouses, heirs, personal and legal representative,
executors and administrators.

 

12.          Notice.
All notices and other communications required or permitted hereunder shall be in writing, shall be effective when given and shall
in any event be deemed to be given: (a) five (5) business days after deposit with the applicable postal service, if delivered
by first class mail, postage prepaid, (b) upon delivery, if delivered by hand, (c) one business day after the business day of
deposit with EMS or similar overnight courier, freight prepaid, or (d) one day after the business day of delivery by facsimile
transmission, if delivered by facsimile transmission, with copy by first class mail, postage prepaid, and shall be addressed if
to Indemnitee, at the Indemnitee’s address as set forth beneath Indemnitee’s signature to this Agreement and if to the Company
at the address of its principal corporate offices or at such other address as such party may designate by ten days’ advance
written notice to the other party hereto.

 

     

     

    

 

13.         Consent to Jurisdiction.
The Company and Indemnitee each hereby irrevocably consent to the arbitration procedures, in accordance with the terms of the joint
venture agreement between the Company and its shareholders, dated September 23, 2016, mutatis mutandis.

 

14.         Severability. The provisions of
this Agreement shall be severable in the event that any of the provision hereof (including any provision within a single section,
paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, and the remaining
provisions shall remain enforceable, to the fullest extent permitted by law. Furthermore, to the fullest extent possible, the provisions
of this Agreement (including, without limitations, each portion of this Agreement containing any provision held to be invalid,
void or otherwise unenforceable that is not itself invalid, void or unenforceable) shall be construed so as to give effect to the
intent manifested by the provision held invalid, illegal or unenforceable.

 

15.          Choice
of Law. This Agreement shall be governed by and its provisions construed and enforced in accordance with the laws of the Peoples
Republic of China without regard to the conflict of laws principles thereof or of any other jurisdiction.

 

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

 

17.          Amendment
and Termination. No amendment, modification, termination or cancellation of this Agreement shall be effective unless it is in writing
signed by both the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver
of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

18.          Integration
and Entire Agreement. This Agreement sets forth the entire understanding between the parties hereto and supersedes and usages all
previous written and oral negotiations, commitments, understandings and agreements relating to the subject matter hereof between
the parties hereto.

 

     

     

    

 

Exhibit - Indemnification Agm - 06092016

 

IN WITNESS WHEREOF, the parties hereto have executed this
Indemnification Agreement as of the date first above written

 

	GUANGZHOU INMODE MEDICAL TECHNOLOGY LTD.	
	 	 
	By: Mr. Moshe Mizrahy 	 
	 	 
	Title: Chairman of the Board	 
	 	 	 
	Signature:	/s/ Moshe Mizrahy 	 

 

	AVRAHAM KARASSIK	 
	Name	 	 
	 	 	 
	Signature:	/s/ AVRAHAM KARASSIK	 
	 	 	 
	Nationality: Israeli	 
	 	 	 
	I.D. #: 0516656	 

 

     

     

    

 

FORM OF DIRECTOR INDEMNIFICATION AGREEMENT

Guangzhou InMode Medical Technology Ltd.

 

 

 

INDEMNIFICATION AGREEMENT

 

This Indemnification Agreement (the
 “Agreement”) is effective as of January 11, 2017, by and between Guangzhou InMode Medical Technology Ltd.,
a company incorporated under the laws of the Peoples Republic of China, with its principal offices at Unit 103-1, 1st Floor, No.
6, Luoxuan 3 rd. International Bio-Island, Guangzhou, Guangdong, China, (the “Company”), and Mr. Alon Yaari, Nationality
as Israeli, I.D. number 032240673, residing at 4/A Hapnina St., Zichron Yaakov, Israel (the “Indemnitee”).

 

Recitals

 

		A.	The Company and Indemnitee
                                         recognize the difficulty in obtaining full and adequate liability insurance for directors,
                                         officers, employees, agents and fiduciaries, the significant increases in the cost of
                                         such insurance and the general reductions in the coverage of such insurance;

 

		B.	The Company and Indemnitee further recognize the substantial
increase in corporate litigation in general, subjecting directors, officers, employees agents and fiduciaries to expensive litigation
risks at the same time as the availability and coverage of liability insurance have been severely limited;

 

		C.	The Company desires
                                         to attract and  retain the services of highly qualified individuals, such as the
                                         Indemnitee, to serve the Company and, in part, in order to induce the Indemnitee to continue
                                         to provide services to the Company, wishes to provide for the indemnification and advancement
                                         of expense to the Indemnitee, to exempt the Indemnitee from liability to the Company,
                                         and agree to procure reasonable insurance coverage, all of the foregoing to the maximum
                                         extent permitted by law; and

 

		D.	In view of the considerations set forth above, the Company
desires that Indemnitee shall be indemnified and exempted by the Company, and enjoy appropriate insurance coverage, all as set
forth herein.

 

Now, therefore, the Company and the Indemnitee hereby agree
as follows:

 

     

     

    

 

		1.	Indemnification

 

1.1          Indemnification
of Liabilities and Expenses. The Company shall indemnify the Indemnitee to the fullest extent permitted by law and subject
to the limitations set forth in paragraph 1.2, with respect to the following liabilities and expenses imposed on or incurred by
the Indemnitee due to an act or omission by the Indemnitee in his capacity as a director, of the Company, or any subsidiary thereof
(regardless whether it is a subsidiary of the Company at the date hereof), or as a director, officer, employee, agent or fiduciary
of another corporation, collaboration, partnership, joint venture, trust or other enterprise, serving at the request of the Company
(the “Corporate Capacity”): (i) any financial obligation imposed on the Indemnitee in favor of another person by, or
expended by the Indemnitee as a result of, a court judgment, including a settlement or an arbitrator’s award approved by
court, by reason of or arising in connection with any Indemnifiable Event (as defined below); (ii) any and all reasonable litigation
expenses (including attorneys’ fees) and all other costs, expenses and financial obligations (collectively, “Expenses”)
incurred by the Indemnitee or charged to the Indemnitee by court in connection with a proceeding instituted against the
Indemnitee by the Company or on its behalf or by another person, or in any criminal proceedings in which Indemnitee is acquitted,
or in any criminal proceedings of a crime which does not require proof of mens rea (criminal intent) in which Indemnitee
is convicted; and (iii) all Expenses expended by the Indemnitee due to an investigation or a proceeding instituted against the
Indemnitee by an authority qualified to conduct such investigation or proceeding, where such investigation or proceeding is concluded
without the filing of an indictment against the Indemnitee and without any financial obligation imposed on the Indemnitee in lieu
of criminal proceedings, or that is concluded without the Indemnitee’s indictment but with a financial obligation imposed
on Indemnitee in lien of criminal proceedings with respect to a crime that does not require proof of mens rea (criminal
intent). Such payments of Expenses shall be made by the Company as soon as practicable but in any event no later than fifteen (15)
days after written demand by the Indemnitee therefor is presented to the Company.

 

1.2.         Indemnifiable
Event; Limit Amounts. For the purpose of this Agreement, an “Indemnifiable Event” shall mean any event or
occurrence falling all or in part within any one or more of the categories set forth below. Indemnification pursuant to
paragraph 1.1(i) with respect to each such Indemnifiable Events described below is limited to US$1,000,000 (the “Limit
Amount”). The Limit Amount shall be subject to continuing review and consideration by the Company, and may be amended,
if the Board of Directors determines that such Limit Amount is unreasonable in the circumstances, including if it is less
than the financial obligation or Expenses which can be expected to be incurred by the Indemnitee in connection with the
corresponding Indemnifiable Event. If the Limit Amount is insufficient to cover all amounts to which the Indemnitee and all
other persons to whom the Company has agreed to indemnify for the matters and in the circumstances described herein. then
such amount shall be allocated to such persons pro rata according to the percentage of their culpability, as finally
determined by a court in the relevant claim, or absent such determination or in the event such persons are parties to
different claims, in equal amounts.

 

     

     

    

  

The Indemnifiable
Events are described as follows:

 

		a)	Any claim or demand made by customers, suppliers, contractors
or other third parties transacting any form of business with the Company or its subsidiaries, in the ordinary course of their
respective businesses, relating to the negotiations or performance of such transactions, representations or inducements provided
in connection thereto or otherwise,

 

		b)	Any claim or demand made in connection with any transaction
not in the ordinary course of business of either the Company, its subsidiaries or the party making such claim, including the sale,
lease or purchase of any assets or business.

 

		c)	Any claim or demand made by employees, consultants,
agents or other individuals or entities employed by or providing services to the Company or its subsidiaries relating to compensation
owed to them or damages or liabilities suffered by them in connection with such employment or service.

 

		d)	Any claim or demand made under any securities laws
of any jurisdiction and/or any stock exchange rules and regulations of any jurisdiction or by reference thereto, or related in
the failure to disclose any information in the manner or time such information is required to be disclosed pursuant to such laws,
or related to inadequate or improper disclosure of information to shareholders, or prospective shareholder, or related to the purchasing,
holding or disposition of securities of the company or any other investment activity involving or affected by such securities,
including any actions relating to an offer or issuance of securities of the Company or of its subsidiaries to the public by prospectus
or privately by private placement, in Israel or abroad., including the details that shall be set forth in the documents in connection
with execution thereof.

 

		e)	Any claim or demand made for actual or alleged infringement,
misappropriation or misuse of any third party’s intellectual property rights by the Company or its subsidiaries, including
without limitation confidential information, patents, copyrights, design rights, service marks, trade secrets, copyrights, misappropriation
of ideas by the Company or its subsidiaries.

 

     

     

    

  

		f)	Actions taken in connection with the intellectual property
of the Company and any subsidiary, and its protection, including the registration or assertion of rights to intellectual property
and the defense of claims relating thereto.

 

		g)	Any claim or demand made by any lenders or other creditors
or for moneys borrowed by, or other indebtedness of, the Company or its subsidiaries.

 

		h)	Any claim or demand made by any third party suffering
any personal injury and/or bodily injury or damage to business or personal property through any act or omission attributed to
the Company or its subsidiaries, or their respective employees, agents or other persons acting or allegedly acting on their behalf.

 

		i)	Any claim or demand made directly or indirectly in
connection with complete or partial failure, by the Company or any subsidiary thereof, or their respective directors, officers
and employees, to pay, report, keep applicable records or otherwise, of any foreign, federal, state, county, local, municipal
or city taxes or other compulsory payments of any nature whatsoever, including, without limitation, income, sales, use, transfer,
excise, value added, registration, severance, stamp, occupation, customs, duties, real property, personal property, capital stock,
social security, unemployment, disability, payroll or employee withholding or other withholding, including any interest, penalty
or addition thereto, whether disputed or not.

 

		j)	Any claim or demand made by purchasers, holders, lessors
or other users of products of the Company, or individuals treated with such products, for damages or losses related to such use
or treatment.

 

		k)	Any administrative, regulatory or judicial actions
orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance
or violation by any governmental entity or other person alleging potential responsibility or liability arising out of, based on
or related to (x) the presence of, release, spilt, emission, leaning, dumping, pouring, deposit, disposal, discharge, leaching
or migration into the environment (each a “Release”) or threatened Release of, or exposure to, any hazardous, toxic,
explosive or radioactive substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing
material, polychlorinated biphenyls (“PCBs”) or PCB-containing materials or equipment, radon gas, infectious or medical
wastes and all other substances or wastes of any nature regulated pursuant to any environmental law, at any location, whether
or not owned, operated, leased or managed by the Company or any of its subsidiaries, or (y) circumstances forming the basis of
any violation of any environmental law or environmental permit, license, registration or other authorization required under applicable
environmental law.

 

     

     

    

 

		l)	Any administrative, regulatory or judicial actions,
orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance
or violation by any governmental entity or other person alleging the failure to comply with any statute, law, ordinance, rule,
regulation, order or decree of any governmental entity applicable to the Company or any of its subsidiaries, or any of their respective
businesses or operations.

 

		m)	Participation, and/or non-participation at the Company’s
board meetings, incompliance regarding the substance and the process of reaching board resolutions, bona fide expression of opinion
and/or voting and/or abstention from voting at the Company’s board meetings.

 

		n)	Approval of corporate actions including the approval
of the acts of the Company’s management, their resolutions, guidance and their supervision.

 

		o)	Claims of failure to exercise business judgment and
a reasonable level of proficiency, expertise, care and other forms of fiduciary duties and duties of loyalty in regard
of the Company’s business, as required under applicable laws.

 

		p)	Resolutions and/or actions relating to a merger of
the Company and/or of its subsidiaries, the issuance of shares or securities exercisable into shares of the Company, changing
the share capital of the Company, formation of subsidiaries, reorganization, winding up or sale of all or part of the business,
operations or shares of the Company.

 

1.3.         Mandatory
Payment of Expenses. Notwithstanding any other provision of this Agreement other than Section 7 hereof, to the extent that
the Indemnitee has been successful on the merits or otherwise, including, without limitation, the dismissal of an action without
prejudice, in defense of any action, suit, proceeding, inquiry or investigation referred to in Section 1.1 hereof or in the defense
of any claim, issue or matter therein, the Indemnitee shall be indemnified against all financial obligations and Expenses incurred
by the Indemnitee in connection therewith.

 

     

     

    

  

		2.	Indemnification Procedure

 

2.1.         Notice;
Cooperation by Indemnitee. The Indemnitee shall, as a condition precedent to the Indemnitee’s right to be indemnified
under this Agreement, give the Company notice in writing as soon as practicable of any claim made against the Indemnitee for which
indemnification will or could be sought under this Agreement, provided, however, that any failure to provide such notice shall
not affect the Indemnitee’s rights to indemnification hereunder unless and to the extent that such failure to provide notice
materially and adversely prejudices the Company’s right to defend against such action. Notice to the Company shall be directed
to the Chairman of the Company’s Board of Directors at the address shown on the signature page of this Agreement (or such
other address as the Company shall designate in writing to the Indemnitee). In addition, the Indemnitee shall give the Company
such information and cooperation as it may reasonably require and as shall be within the Indemnitee’s power.

 

2.2.         No
Presumptions; Burden of Proof. For purposes of this Agreement, the termination of any claim by judgment, order, settlement
(whether without court approval) or conviction, or upon a plea of guilty, shall not create a presumption that the Indemnitee did
not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification
is not permitted by applicable law.

 

2.3.         Notice
to Insurers. If, at the time of the receipt by the Company of a notice of a claim the Company has liability insurance in effect
which may cover such claim, the Company shall give prompt notice of the commencement of such claim to the insurers in accordance
with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to
cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such action, suit, proceeding, inquiry
or investigation in accordance with the terms of such policies.

 

2.4.         Selection
of Counsel. In the event that the Company shall be obligated to indemnify the Indemnitee and/or pay the Expenses of any claim,
and the proceedings have not been initiated against the Indemnitee by the Company or on its behalf; then the Company shall be
entitled to assume the defense of such claim with counsel selected by the Company, which counsel is reasonably reputable with
experience in the relevant field, and the Company will not be liable to the Indemnitee under this Agreement for any fees of counsel
subsequently incurred by Indemnitee with respect to the same claim; The Company shall and shall cause the counsel retained by
it to take all necessary steps to bring the claim to a close and will keep the Indemnitee informed of key steps in the process.
The counsel retained by the Company to conduct the defense pursuant to this Section shall be bound by a fiduciary duty to the
Indemnitee and to the Company. The Company shall have the right to conduct such defense as it sees fit in its sole discretion.

 

     

     

    

  

3.           Additional
Indemnification Rights; Non-exclusivity. In the event of any change after the date of this Agreement of any applicable law,
statute or rule which expands the right of a corporation of the Company’s state of incorporation to indemnify a member of
its board of directors or an officer, employee, agent or fiduciary, it is the intent of the parties hereto that the Indemnitee
shall enjoy by this Agreement the greater benefits afforded by such change.

 

4.           No
Duplication of Payments. The Company shall not be liable under this Agreement to make any payment in connection with any claim
made against Indemnitee to the extent the Indemnitee has otherwise actually received payment (under any insurance policy, the Articles
of Association or otherwise) of the amounts otherwise indemnifiable hereunder, except for the difference, if any, between the amounts
received by the Indemnitee as aforesaid and the total obligations, liabilities and/or Expenses incurred by the Indemnitee in connection
with such claim. The Company will be entitled to receive any amount collected by Indemnitee from a third party in connection with
liabilities actually indemnified hereunder, to be transferred by the Indemnitee to the Company within fifteen (15) days following
the receipt of said amount. Any amount received from D&O Insurance (as defined below) shall not be deducted from the Limit
Amount hereunder.

 

5.           Partial
Indemnification. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some
or a portion of the obligations, liabilities and/or Expenses incurred in connection with any claim, but not, however, for all of
the total amount thereof, the Company shall nevertheless indemnify the Indemnitee for the portion of such obligations, liabilities,
and/or Expenses to which the Indemnitee is entitled.

 

6.           Exemption.
To the maximum extent permitted by law, the Company hereby exempts and releases Indemnitee from any and all liability to the Company
related to any breach by the Indemnitee of his or her duty of care to the Company, subject to the provisions of Section 7.1 below
and provided that in no event shall the Indemnitee be exempted in advance for a breach of his duty of care to the Company in a
distribution.

 

7.           Exceptions.
Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:

 

7.1.         Excluded
Acts and Omissions. To the extent it is prohibited under applicable law, to indemnify, insure or exempt Indemnitee from or
against any liability arising out of: (i) the Indemnitee’s breach of fiduciary duty (other than, in case of insuring the
Indemnity, a breach of fiduciary duty to the Company, provided that the Indemnitee has acted or omitted to act in good faith and
had reasonable ground to believe such action will not prejudice the Company’s interests), (ii) intentional or reckless beach
by the Indemnitee of his or her duly of care to the Company, but other than if done in negligence only, or (iii)
the indemnitee’s action taken with the intention to unduly profit therefrom, and (iv) any fine or penalty payment to propitiate
an offense imposed on the Indemnitee.

 

     

     

    

  

7.2.         Claims
Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to claims initiated or brought voluntarily
by the Indemnitee and not by way of defense, except: (i) with respect to proceedings brought to establish or enforce a right to
indemnification under this Agreement or any other agreement or insurance policy or under the Company’s Articles of Association
now or hereafter in effect relating to claims for indemnification, release, exemption or insurance of the Indemnitee by reason
of his Corporate Capacity, (ii) in specific cases if the Board of Directors has approved the initiation or bringing of such suit,
or (iii) us otherwise required under the laws of the Company’s place of incorporation, regardless of whether the Indemnitee
ultimately is determined to be entitled to such indemnification, advance expense payment of insurance recovery, as the case may
be;

 

8.           Required
Approvals. If for the validation of any of the undertakings in this Agreement any act, resolution, approval or other procedure
is required, the Company undertakes to cause them to be done or adopted in a manner which will enable the Company to fulfill all
its undertakings as aforesaid.

 

9.           Post
Factum Indemnity. Nothing contained in this Agreement derogates from the Company’s right to indemnify the Indemnitee post
factum for any amounts which the Indemnitee may be obligated to pay as set forth in Section 1.1 above without the limitations set
forth in Section 1.2 above.

 

10.         Counterparts.
This Agreement may be executed in one or more counterparts, each of which skill constitute an original.

 

11.         Binding
Effect; Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties
hereto and their respective successors, assigns, including any direct or indirect successor by purchase, merger, consolidation
or otherwise) to all, or substantially all the business and/or assets of the Company, spouses, heirs, personal and legal representative,
executors and administrators.

 

12.         Notice.
All notices and other communications required or permitted hereunder shall be in writing, shall be effective when given and shall
in any event be deemed to be given: (a) five (5) business days after deposit with the applicable postal service, if delivered by
first class mail, postage prepaid, (b) upon delivery, if delivered by hand, (c) one business day after the business day of deposit
with EMS or similar overnight courier, freight prepaid, or (d) one day after the business day of delivery by facsimile transmission,
if delivered by facsimile transmission, with copy by first class mail, postage prepaid, and shall be addressed if to Indemnitee,
at the Indemnitee’s address as set forth beneath indemnitee’s signature to this Agreement and if to the
Company at the address of its principal corporate offices or at such other address as such party may designate by ten days’
advance written notice to the other party hereto.

 

     

     

    

  

13.         Consent
to Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the arbitration procedures, in accordance with the
terms of the joint venture agreement between the Company and its shareholders, dated September 23, 2016, mutatis mutandis.

 

14.         Severability.
The provisions of this Agreement shall be severable in the event that any of the provision hereof (including any provision within
a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable,
and the remaining provisions shall remain enforceable, to the fullest extent permitted by law. Furthermore, to the fullest extent
possible, the provisions of this Agreement (including, without limitations, each portion of this Agreement containing any provision
held to be invalid, void or otherwise unenforceable that is not itself invalid, void or unenforceable) shall be construed so as
to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

 

15.         Choice
of Law. This Agreement shall be governed by and its provisions construed and enforced in accordance with the laws of the Peoples
Republic of China without regard to the conflict of laws principles thereof or of any other jurisdiction.

 

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

 

17.         Amendment
and Termination. No amendment, modification, termination or cancellation of this Agreement shall be effective unless it is in writing
signed by both the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver
of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

18.         Integration
and Entire Agreement. This Agreement sets forth the entire understanding between the parties hereto and supersedes and usages all
previous written and oral negotiations, commitments, understandings and agreements relating to the subject matter hereof between
the parties hereto.

 

     

     

    

  

Exhibit - Indemnification Agm - 06092016

 

IN WITNESS WHEREOF, the parties hereto have executed this
Indemnification Agreement as of the date first above written

 

	GUANGZHOU INMODE MEDICAL TECHNOLOGY LTD.	
	 	 	 
	By:  Mr. Moshe Mizrahy	 
	 	 	 
	Title:  Chairman of the Board	 

 

	Signature:	/s/ Moshe Mizrahy	 

 

	ALON YAARI	 	 
	Name	 	 

	Signature:	/s/ Alon Yaari	 
	 	 	 
	Nationality:	Israeli	 
	 	 	 
	I.D. #: 032240673	 

 

     

     

    

 

FORM OF DIRECTOR INDEMNIFICATION AGREEMENT

Guangzhou InMode Medical Technology Ltd.

 

 

 

INDEMNIFICATION AGREEMENT

 

This Indemnification Agreement
(the “Agreement”) is effective as of January 11, 2017, by and between Guangzhou InMode Medical Technology
Ltd., a company incorporated under the laws of the Peoples Republic of China, with its principal offices at Unit 103-1, 1st
Floor, No. 6, Luoxuan 3 rd. International Bio-Island, Guangzhou, Guangdong, China, (the “Company”), and Mr. Moshe
Mizrahy, Nationality as Israeli, I.D. number 051825396, residing at 2 Yatziz St, Tel Aviv, Israel (the
 “Indemnitee”).

 

Recitals

 

		A.	The Company and Indemnitee
                                         recognize the difficulty in obtaining full and adequate liability insurance for directors,
                                         officers, employees, agents and fiduciaries, the significant increases in the cost of
                                         such insurance and the general reductions in the coverage of such insurance;

 

		B.	The Company and Indemnitee further recognize the substantial
increase in corporate litigation in general, subjecting directors, officers, employees, agents and fiduciaries to expensive litigation
risks at the same time as the availability and coverage of liability insurance have been severely limited;

 

		C.	The Company desires
                                         to attract and  retain the services of highly qualified individuals, such as the
                                         Indemnitee, to serve the Company and, in part, in order to induce the Indemnitee to continue
                                         to provide services to the Company, wishes to provide for the indemnification and advancement
                                         of expense to the Indemnitee, to exempt the Indemnitee from liability to the Company,
                                         and agree to procure reasonable insurance coverage, all of the foregoing to the maximum
                                         extent permitted by law; and

 

		D.	In view of the considerations set forth above, the Company
desires that Indemnitee shall be indemnified and exempted by the Company, and enjoy appropriate insurance coverage, all as set
forth herein.

 

Now, therefore, the Company and the Indemnitee hereby agree
as follows:

 

     

     

    

 

		1.	Indemnification

 

1.1          Indemnification
of Liabilities and Expenses. The Company shall indemnify the Indemnitee to the fullest extent permitted by law and subject
to the limitations set forth in paragraph 1.2, with respect to the following liabilities and expenses imposed on or incurred by
the Indemnitee due to an act or omission by the Indemnitee in his capacity as a director, of the Company, or any subsidiary thereof
(regardless whether it is a subsidiary of the Company at the date hereof), or as a director, officer, employee, agent or fiduciary
of another corporation, collaboration, partnership, joint venture, trust or other enterprise, serving at the request of the Company
(the “Corporate Capacity’): (i) any financial obligation imposed on the Indemnitee in favor of another person by, or
expended by the Indemnitee as a result of, a court judgment, including a settlement or an arbitrator’s award approved by
court, by reason of or arising in connection with any Indemnifiable Event (as defined below); (ii) any and all reasonable litigation
expenses (including attorneys’ Fees) and all other costs, expenses and financial obligations (collectively, “Expenses”)
incurred by the Indemnitee or charged to the Indemnitee by court in connection with a proceeding instituted against the
Indemnitee by the Company or on its behalf or by another person, or in any criminal proceedings in which Indemnitee is acquitted,
or in any criminal proceedings of a crime which does not require proof of mens rea (criminal intent) in which Indemnitee
is convicted; and (iii) all Expenses expended by the Indemnitee due to an investigation or a proceeding instituted against the
Indemnitee by an authority qualified to conduct such investigation or proceeding, where such investigation or proceeding is concluded
without the filing of an indictment against the Indemnitee and without any financial obligation imposed on the Indemnitee in lieu
of criminal proceedings, or that is concluded without the Indemnitee’s indictment but with a financial obligation imposed
on Indemnitee in lien of criminal proceedings with respect to a crime that does not require proof of mens rea (criminal
intent). Such payments of Expenses shall be made by the Company as soon as practicable but in any event no later than fifteen (15)
days after written demand by the Indemnitee therefor is presented to the Company.

 

1.2.         Indemnifiable
Event; Limit Amounts. For the purpose of this Agreement, an “Indemnifiable Event” shall mean any event or occurrence
falling all or in part within any one or more of the categories set forth below. Indemnification pursuant to paragraph 1.l(i)
with respect to each such Indemnifiable Events described below is limited to US$1,000,000 (the “Limit Amount”). The
Limit Amount shall be subject to continuing review and consideration by the Company, and may be amended, if the Board of Directors
determines that such Limit Amount is unreasonable in the circumstances, including if it is less than the financial obligation
or Expenses which can be expected to be incurred by the Indemnitee in connection with the corresponding Indemnifiable Event, If
the Limit Amount is insufficient to cover all amounts to which the Indemnitee and all other persons to whom the Company has agreed
to indemnify for the matters and in the circumstances described herein. then such amount shall be allocated to such persons pro
rata according to the percentage of their culpability, an finally determined by a court in the relevant claim, or absent such
determination or in the event such persons are parties to different claims, in equal amounts.

 

     

     

    

  

The Indemnifiable
Events are described as follows:

 

		a)	Any claim or demand made by customers, suppliers, contractors
or other third parties transacting any form of business with the Company or its subsidiaries, in the ordinary course of their
respective businesses, relating to the negotiations or performance of such transactions, representations or inducements provided
in connection thereto or otherwise,

 

		b)	Any claim or demand made in connection with any transaction
not in the ordinary course of business of either the Company, its subsidiaries or the party making such claim, including the sale,
lease or purchase of any assets or business.

 

		c)	Any claim or demand made by employees, consultants,
agents or other individuals or entities employed by or providing services to the Company or its subsidiaries relating to compensation
owed to them or damages or liabilities suffered by them in connection with such employment or service.

 

		d)	Any claim or demand made under any securities laws
of any jurisdiction and/or any stock exchange rules and regulations of any jurisdiction or by reference thereto, or related in
the failure to disclose any information in the manner or time such information is required to be disclosed pursuant to such laws,
or related to inadequate or improper disclosure of information to shareholders, or prospective shareholder, or related to the purchasing,
holding or disposition of securities of the company or any other investment activity involving or affected by such securities,
including any actions relating to an offer or issuance of securities of the Company or of its subsidiaries to the public by prospectus
or privately by private placement, in Israel or abroad, including the details that shall be set forth in the documents in connection
with execution thereof.

 

		e)	Any claim or demand made for actual or alleged infringement,
misappropriation or misuse of any third party’s intellectual property rights by the Company or its subsidiaries, including
without limitation confidential information, patents, copyrights, design rights, service marks, trade secrets, copyrights, misappropriation
of ideas by the Company or its subsidiaries.

 

     

     

    

  

		f)	Actions taken in connection with the intellectual property
of the Company and any subsidiary, and its protection, including the registration or assertion of rights to intellectual property
and the defense of claims relating thereto.

 

		g)	Any claim or demand made by any lenders or other creditors
or for moneys borrowed by, or other indebtedness of, the Company or its subsidiaries.

 

		h)	Any claim or demand made by any third party suffering
any personal injury and/or bodily injury or damage to business or personal property through any act or omission attributed to
the Company or its subsidiaries, or their respective employees, agents or other persons acting or allegedly acting on their behalf.

 

		i)	Any claim or demand made directly or indirectly in
connection with complete or partial failure, by the Company or any subsidiary thereof, or their respective directors, officers
and employees, to pay, report, keep applicable records or otherwise, of any foreign, federal, state, county, local, municipal
or city taxes or other compulsory payments of any nature whatsoever, including, without limitation, income, sales, use, transfer,
excise, value added, registration, severance, stamp, occupation, customs, duties, real property, personal property, capital stock,
social security, unemployment, disability, payroll or employee withholding or other withholding, including any interest, penalty
or addition thereto, whether disputed or not.

 

		j)	Any claim or demand made by purchasers, holders, lessors
or other users of products of the Company, or individuals treated with such products, for damages or losses related to such use
or treatment.

 

		k)	Any administrative, regulatory or judicial actions
orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance
or violation by any governmental entity or other person alleging potential responsibility or liability arising out of, based on
or related to (x) the presence of, release, spilt, emission, leaning, dumping, pouring, deposit, disposal, discharge, leaching
or migration into the environment (each a “Release”) or threatened Release of; or exposure to, any hazardous, toxic,
explosive or radioactive substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing
material, polychlorinated biphenyls (“PCBs”) or PCB-containing materials or equipment, radon gas, infectious or medical
wastes and all other substances or wastes of any nature regulated pursuant to any environmental law, at any location, whether
or not owned, operated, leased or managed by the Company or any of its subsidiaries, or (y) circumstances forming the basis of
any violation of any environmental law or environmental permit, license, registration or other authorization required under applicable
environmental law.

 

     

     

    

 

		l)	Any administrative, regulatory or judicial actions,
orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance
or violation by any governmental entity or other person alleging the failure to comply with any statute, law, ordinance, rule,
regulation, order or decree of any governmental entity applicable to the Company or any of its subsidiaries, or any of their respective
businesses or operations.

 

		m)	Participation, and/or non-participation at the Company’s
board meetings, incompliance regarding the substance and the process of reaching board resolutions, bona fide expression of opinion
and/or voting and/or abstention from voting at the Company’s board meetings.

 

		n)	Approval of corporate actions including the approval
of the acts of the Company’s management, their resolutions, guidance and their supervision.

 

		o)	Claims of failure
                                         to exercise business judgment and a reasonable level of proficiency, expertise, care
                                         and other forms of fiduciary duties and duties of loyalty in regard of the Company’s
                                         business, as required under applicable laws.

 

		p)	Resolutions and/or actions relating to a merger of
the Company and/or of its subsidiaries, the issuance of shares or securities exercisable into shares of the Company, changing
the share capital of the Company, formation of subsidiaries, reorganization, winding up or sale of all or part of the business,
operations or shares of the Company.

 

1.3.         Mandatory
Payment of Expenses. Notwithstanding any other provision of this Agreement other than Section 7 hereof, to the extent that
the Indemnitee has been successful on the merits or otherwise, including, without limitation, the dismissal of an action without
prejudice, in defense of any action, suit, proceeding, inquiry or investigation referred to in Section 1.1 hereof or in the defense
of any claim, issue or matter therein, the Indemnitee shall be indemnified against all financial obligations and Expenses incurred
by the Indemnitee in connection therewith.

 

     

     

    

  

		2.	Indemnification Procedure

 

2.1.         Notice;
Cooperation by Indemnitee. The Indemnitee shall, as a condition precedent to the Indemnitee’s right to be indemnified
under this Agreement, give the Company notice in writing as soon as practicable of any claim made against the Indemnitee for which
indemnification will or could be sought under this Agreement, provided, however, that any failure to provide such notice shall
not affect the Indemnitee’s rights to indemnification hereunder unless and to the extent that such failure to provide notice
materially and adversely prejudices the Company’s right to defend against such action. Notice to the Company shall be directed
to the Chairman of the Company’s Board of Directors at the address shown on the signature page of this Agreement (or such
other address as the Company shall designate in writing to the Indemnitee). In addition, the Indemnitee shall give the Company
such information and cooperation as it may reasonably require and as shall be within the Indemnitee’s power,

 

2.2.         No
Presumptions; Burden of Proof. For purposes of this Agreement, the termination of any claim by judgment, order, settlement
(whether without court approval) or conviction, or upon a plea of guilty, shall not create a presumption that the Indemnitee did
not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification
is not permitted by applicable law.

 

2.3.         Notice
to Insurers. If, at the time of the receipt by the Company of a notice of a claim the Company has liability insurance in effect
which may cover such claim, the Company shall give prompt notice of the commencement of such claim to the insurers in accordance
with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to
cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such action, suit, proceeding, inquiry
or investigation in accordance with the terms of such policies

 

2.4.         Selection
of Counsel. In the event that the Company shall be obligated to indemnify the Indemnitee and/or pay the Expenses of any claim,
and the proceedings have not been initiated against the Indemnitee by the Company or on its behalf; then the Company shall be
entitled to assume the defense of such claim with counsel selected by the Company, which counsel is reasonably reputable with
experience in the relevant field, and the Company will not be liable to the Indemnitee under this Agreement for any fees of counsel
subsequently incurred by Indemnitee with respect to the same claim; The Company shall and shall cause the counsel retained by
it to take all necessary steps to bring the claim to a close and will keep the Indemnitee informed of key steps in the process.
The counsel retained by the Company to conduct the defense pursuant to this Section shall be bound by a fiduciary duty to the
Indemnitee and to the Company. The Company shall have the right to conduct such defense as it sees fit in its sole discretion.

 

     

     

    

  

3.           Additional
Indemnification Rights; Non-exclusivity. In the event of any change after the date of this Agreement of any applicable law, statute
or rule which expands the right of a corporation of the Company’s state of incorporation to indemnify a member of its board
of directors or an officer, employee, agent or fiduciary, it is the intent of the parties hereto that the Indemnitee shall enjoy
by this Agreement the greater benefits afforded by such change.

 

4.           No
Duplication of Payments. The Company shall not be liable under this Agreement to make any payment in connection with any claim
made against Indemnitee to the extent the Indemnitee has otherwise actually received payment (under any insurance policy, the Articles
of Association or otherwise) of the amounts otherwise indemnifiable hereunder, except for the difference, if any, between the amounts
received by the Indemnitee as aforesaid and the total obligations, liabilities and/or Expenses incurred by the Indemnitee in connection
with such claim. The Company will be entitled to receive any amount collected by Indemnitee from a third party in connection with
liabilities actually indemnified hereunder, to be transferred by the Indemnitee to the Company within fifteen (15) days following
the receipt of said amount. Any amount received from D&O Insurance (as defined below) shall not be deducted from the Limit
Amount hereunder.

 

5.           Partial
Indemnification. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some
or a portion of the obligations, liabilities and/or Expenses incurred in connection with any claim, but not, however, for all of
the total amount thereof, the Company shall nevertheless indemnify the Indemnitee for the portion of such obligations, liabilities,
and/or Expenses to which the Indemnitee is entitled.

 

6.           Exemption.
To the maximum extent permitted by law, the Company hereby exempts and releases Indemnitee from any and all liability to the Company
related to any breach by the Indemnitee of his or her duty of care to the Company, subject to the provisions of Section 7.1 below
and provided that in no event shall the Indemnitee be exempted in advance for a breach of his duty of care to the Company in a
distribution.

 

7.           Exceptions.
Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:

 

7.1.         Excluded
Acts and Omissions. To the extent it is prohibited under applicable law, to indemnify, insure or exempt Indemnitee from or
against any liability arising out of: (i) the Indemnitee’s breach of fiduciary duty (other than, in case of insuring the
Indemnity, a breach of fiduciary duty to the Company, provided that the Indemnitee has acted or omitted to act in good faith and
had reasonable ground to believe such action will not prejudice the Company’s interests), (ii) intentional or reckless beach
by the Indemnitee of his or her duty of care to the Company, but other than if done in negligence only, or (iii) the indemnitee’s
action taken with the intention to unduly profit therefrom, and (iv) any fine or penalty payment to propitiate an offense imposed
on the Indemnitee.

 

     

     

    

  

7.2.         Claims
Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to claims initiated or brought voluntarily
by the Indemnitee and not by way of defense, except: (i) with respect to proceedings brought to establish or enforce a right to
indemnification under this Agreement or any other agreement of insurance policy or under the Company’s Articles of Association
now or hereafter in effect relating to claims for indemnification, release, exemption or insurance of the Indemnitee by reason
of his Corporate Capacity, (ii) in specific cases if the Board of Directors has approved the initiation or bringing of such suit,
or (iii) us otherwise required under the laws of the Company’s place of incorporation, regardless of whether the Indemnitee
ultimately is determined to be entitled to such indemnification, advance expense payment of insurance recovery, as the case may
be;

 

8.           Required
Approvals. If for the validation of any of the undertakings in this Agreement any act, resolution, approval or other procedure
is required, the Company undertakes to cause them to be done or adopted in a manner which will enable the Company to fulfill all
its undertakings as aforesaid.

 

9.           Post
Factum Indemnity. Nothing contained in this Agreement derogates from the Company’s right to indemnify the Indemnitee post
factum for any amounts which the Indemnitee may he obligated to pay as set forth in Section 1.1 above without the limitations set
forth in Section 1.2 above.

 

10.         Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall constitute an original.

 

11.         Binding
Effect; Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties
hereto and their respective successors, assigns, including any direct or indirect successor by purchase, merger, consolidation
or otherwise) to all, or substantially all the business and/or assets of the Company, spouses, heirs, personal and legal representative,
executors and administrators.

 

12.         Notice.
All notices and other communications required or permitted hereunder shall be in writing, shall be effective when given and shall
in any event be deemed to be given: (a) five (5) business days after deposit with the applicable postal service, if delivered by
first class mail, postage prepaid, (b) upon delivery, if delivered by hand, (c) one business day after the business day of deposit
with EMS or similar overnight courier, freight prepaid, or (d) one day after the business day of delivery by facsimile transmission,
if delivered by facsimile transmission, with copy by first class mail, postage prepaid, and shall be addressed if to Indemnitee,
at the Indemnitee’s address as set forth beneath indemnitee’s signature to this Agreement and if to the
Company at the address of its principal corporate offices or at such other address as such party may designate by ten days’
advance written notice to the other party hereto.

 

     

     

    

  

13.         Consent
to Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the arbitration procedures, in accordance with the
terms of the joint venture agreement between the Company and its shareholders, dated September 23, 2016, mutatis mutandis.

 

14.         Severability.
The provisions of this Agreement shall be severable in the event that any of the provision hereof (including any provision within
a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable,
and the remaining provisions shall remain enforceable, to the fullest extent permitted by law. Furthermore, to the fullest extent
possible, the provisions of this Agreement (including, without limitations, each portion of this Agreement containing any provision
held to be invalid, void or otherwise unenforceable that is not itself invalid, void or unenforceable) shall be construed so as
to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

 

15.         Choice
of Law. This Agreement shall be governed by and its provisions construed and enforced in accordance with the laws of the Peoples
Republic of China without regard to the conflict of laws principles thereof or of any other jurisdiction.

 

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

 

17.         Amendment
and Termination. No amendment, modification, termination or cancellation of this Agreement shall be effective unless It is in writing
signed by both the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver
of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

18.         Integration
and Entire Agreement. This Agreement sets forth the entire understanding between the parties hereto and supersedes and usages all
previous written and oral negotiations, commitments, understandings and agreements relating to the subject matter hereof between
the parties hereto.

 

     

     

    

  

Exhibit - Indemnification Agm - 06092016

 

IN WITNESS WHEREOF, the parties hereto have executed this
Indemnification Agreement as of the date first above written

 

	GUANGZHOU INMODE MEDICAL TECHNOLOGY LTD.	
	 	 	 
	By:  Mr. Moshe Mizrahy	 
	 	 	 
	Title:  Chairman of the Board	 

 

	Signature:	/s/ Moshe Mizrahy	 

 

	MOSHE MIZRAHY	 	 
	Name	 	 

	Signature:	/s/ Moshe Mizrahy	 
	 	 	 
	Nationality:	 Israeli	 
	 	 	 
	I.D. #: 051825396	 

 

     

     

    

 

FORM OF DIRECTOR INDEMNIFICATION AGREEMENT

Guangzhou InMode Medical Technology Ltd.

 

 

 

INDEMNIFICATION AGREEMENT

 

This Indemnification
Agreement (the “Agreement”) is effective as of January 11, 2017, by and between Guangzhou InMode Medical
Technology Ltd., a company incorporated under the laws of the Peoples Republic of China, with its principal offices at Unit
103-1, 1st Floor, No.6, Luoxuau 3 rd. International Bio-Island, Guangzhou, Guangdong, China, (the “Company”),
and Mr. Avner Lushi, Nationality as Israeli, I.D. number 022840607, residing at 36 Smadar St., Ramat Gan, Israel
(the “Indemnitee”).

 

Recitals

 

		A.	The Company and Indemnitee
                                         recognize the difficulty in obtaining full and adequate liability insurance for directors,
                                         officers, employees, agents and fiduciaries, the significant increases in the cost of
                                         such insurance and the general reductions in the coverage of such insurance;

 

		B.	The Company and Indemnitee further recognize the substantial
increase in corporate litigation in general, subjecting directors, officers, employees, agents and fiduciaries to expensive litigation
risks at the same time as the availability and coverage of liability insurance have been severely limited;

 

		C.	The Company desires
                                         to attract and retain the services of highly qualified individuals, such as the
                                         Indemnitee, to serve the Company and, in part, in order to induce the Indemnitee to continue
                                         to provide services to the Company, wishes to provide for the indemnification and advancement
                                         of expense to the Indemnitee, to exempt the Indemnitee from liability to the Company,
                                         and agree to procure reasonable insurance coverage, all of the foregoing to the maximum
                                         extent permitted by law; and

 

		D.	In view of the considerations set forth above, the Company
desires that Indemnitee shall be indemnified and exempted by the Company, and enjoy appropriate insurance coverage, all as set
forth herein.

 

Now, therefore, the Company and the Indemnitee hereby agree
as follows:

 

     

     

    

 

		1.	Indemnification

 

1.1          Indemnification
of Liabilities and Expenses. The Company shall indemnify the Indemnitee to the fullest extent permitted by law and subject
to the limitations set forth in paragraph 1.2, with respect to the following liabilities and expenses imposed on or incurred by
the Indemnitee due to an act or omission by the Indemnitee in his capacity as a director, of the Company, or any subsidiary thereof
(regardless whether it is a subsidiary of the Company at the date hereof), or as a director, officer, employee, agent or fiduciary
of another corporation, collaboration, partnership, joint venture, trust or other enterprise, serving at the request of the Company
(the “Corporate Capacity”): (i) any financial obligation imposed on the Indemnitee in favor of another person by, or
expended by the Indemnitee as a result of, a court judgment, including a settlement or an arbitrator’s award approved by
court, by reason of or arising in connection with any Indemnifiable Event (as defined below); (ii) any and all reasonable litigation
expenses (including attorneys’ fees) and all other costs, expenses and financial obligations (collectively, “Expenses”)
incurred by the Indemnitee or charged to the Indemnitee by court in connection with a proceeding instituted against the
Indemnitee by the Company or on its behalf or by another person, or in any criminal proceedings in which Indemnitee is acquitted,
or in any criminal proceedings of a crime which does not require proof of mens rea (criminal intent) in which Indemnitee
is convicted; and (iii) all Expenses expended by the Indemnitee due to an investigation or a proceeding instituted against the
Indemnitee by an authority qualified to conduct such investigation or proceeding, where such investigation or proceeding is concluded
without the filing of an indictment against the Indemnitee and without any financial obligation imposed on the Indemnitee in lieu
of criminal proceedings, or that is concluded without the Indemnitee’s indictment but with a financial obligation imposed
on Indemnitee in lieu of criminal proceedings with respect to a crime that does not require proof of mens rea (criminal
intent). Such payments of Expenses shall be made by the Company as soon as practicable but in any event no later than fifteen (15)
days after written demand by the Indemnitee therefor is presented to the Company.

 

1.2.         Indemnifiable
Event; Limit Amounts. For the purpose of this Agreement, an “Indemnifiable Event” shall mean any event or occurrence
falling all or in part within any one or more of the categories set forth below. Indemnification pursuant to paragraph
1.l(i) with respect to each such Indemnifiable Events described below is limited to US$1,000,000 (the “Limit Amount”).
The Limit Amount shall be subject to continuing review and consideration by the Company, and may be amended, if the Board of Directors
determines that such Limit Amount is unreasonable in the circumstances, including if it is less than the financial obligation
or Expenses which can be expected to be incurred by the Indemnitee in connection with the corresponding Indemnifiable Event. If
the Limit Amount is insufficient to cover all amounts to which the Indemnitee and all other persons to whom the Company has agreed
to indemnify for the matters and in the circumstances described herein, then such amount shall be allocated to such persons pro
rata according to the percentage of their culpability, as finally determined by a court in the relevant claim, or absent
such determination or in the event such persons are parties to different claims, in equal amounts.

 

     

     

    

  

The Indemnifiable
Events are described as follows:

 

		a)	Any claim or demand made by customers, suppliers, contractors
or other third parties transacting any form of business with the Company or its subsidiaries, in the ordinary course of their
respective businesses, relating to the negotiations or performance of such transactions, representations or inducements provided
in connection thereto or otherwise.

 

		b)	Any claim or demand made in connection with any transaction
not in the ordinary course of business of either the Company, its subsidiaries or the party making such claim, including the sale,
lease or purchase of any assets or business.

 

		c)	Any claim or demand made by employees, consultants,
agents or other individuals or entities employed by or providing services to the Company or its subsidiaries relating to compensation
owed to them or damages or liabilities suffered by them in connection with such employment or service.

 

		d)	Any claim or demand made under any securities laws
of any jurisdiction and/or any stock exchange rules and regulations of any jurisdiction or by reference thereto, or related in
the failure to disclose any information in the manner or time such information is required to be disclosed pursuant to such laws,
or related to inadequate or improper disclosure of information to shareholders, or prospective shareholders, or related to the purchasing,
holding or disposition of securities of the company or any other investment activity involving or affected by such securities,
including any actions relating to an offer or issuance of securities of the Company or of its subsidiaries to the public by prospectus
or privately by private placement, in Israel or abroad, including the details that shall be set forth in the documents in connection
with execution thereof.

 

		e)	Any claim or demand made for actual or alleged infringement,
misappropriation or misuse of any third party’s intellectual property rights by the Company or its subsidiaries, including
without limitation confidential information, patents, copyrights, design rights, service marks, trade secrets, copyrights, misappropriation
of ideas by the Company or its subsidiaries.

 

     

     

    

  

		f)	Actions taken in connection with the intellectual property
of the Company and any subsidiary, and its protection, including the registration or assertion of rights to intellectual property
and the defense of claims relating thereto.

 

		g)	Any claim or demand made by any leaders or other creditors
or for moneys borrowed by, or other indebtedness of, the Company or its subsidiaries.

 

		h)	Any claim or demand made by any third party suffering
any personal injury and/or bodily injury or damage to business or personal property through any act or omission attributed to
the Company or its subsidiaries, or their respective employees, agents or other persons acting or allegedly acting on their behalf.

 

		i)	Any claim or demand made directly or indirectly in
connection with complete or partial failure, by the Company or any subsidiary thereof, or their respective directors, officers
and employees, to pay, report, keep applicable records or otherwise, of any foreign, federal, state, county, local, municipal
or city taxes or other compulsory payments of any nature whatsoever, including, without limitation, income, sales, use, transfer,
excise, value added, registration, severance, stamp, occupation, customs, duties, real property, personal property, capital stock,
social security, unemployment, disability, payroll or employee withholding or other withholding, including any interest, penalty
or addition thereto, whether disputed or not.

 

		j)	Any claim or demand made by purchasers, holders, lessors
or other users of products of the Company, or individuals treated with such products, for damages or losses related to such use
or treatment.

 

		k)	Any administrative, regulatory or judicial actions
orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance
or violation by any governmental entity or other person alleging potential responsibility or liability arising out of, based on
or related to (x) the presence of, release, spill, emission, leaning, dumping, pouring, deposit, disposal, discharge, leaching
or migration into the environment (each a “Release”) or threatened Release of; or exposure to, any hazardous, toxic,
explosive or radioactive substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing
material, polychlorinated biphenyls (“PCBs”) or PCB-containing materials or equipment, radon gas, infectious or medical
wastes and all other substances or wastes of any nature regulated pursuant to any environmental law, at any location, whether
or not owned, operated, leased or managed by the Company or any of its subsidiaries, or (y) circumstances forming the basis of
any violation of any environmental law or environmental permit, license, registration or other authorization required under applicable
environmental law.

 

     

     

    

 

		l)	Any administrative, regulatory or judicial actions,
orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance
or violation by any governmental entity or other person alleging the failure to comply with any statute, law, ordinance, rule,
regulation, order or decree of any governmental entity applicable to the Company or any of its subsidiaries, or any of their respective
businesses or operations.

 

		m)	Participation, and/or non-participation at the Company’s
board meetings, incompliance regarding the substance and the process of reaching board resolutions, bona fide expression of opinion
and/or voting and/or abstention from voting at the Company’s board meetings,

 

		n)	Approval of corporate actions including the approval
of the acts of the Company’s management, their resolutions, guidance and their supervision.

 

		o)	Claims of failure
                                         to exercise business judgment and a reasonable level of proficiency, expertise, care
                                         and other forms of fiduciary duties and duties of loyalty in regard of the Company’s
                                         business, as required under applicable laws.

 

		p)	Resolutions and/or actions relating to a merger of
the Company and/or of its subsidiaries, the issuance of shares or securities exercisable into shares of the Company, changing
the share capital of the Company, formation of subsidiaries, reorganization, winding up or sale of all or part of the business,
operations or shares of the Company.

 

1.3.         Mandatory
Payment of Expenses. Notwithstanding any other provision of this Agreement other than Section 7 hereof, to the extent that
the Indemnitee has been successful on the merits or otherwise, including, without limitation, the dismissal of an action without
prejudice, in defense of any action, suit, proceeding, inquiry or investigation referred to in Section 1.1 hereof or in the defense
of any claim, issue or matter therein, the Indemnitee shall be indemnified against all financial obligations and Expenses incurred
by the Indemnitee in connection therewith.

 

     

     

    

  

		2.	Indemnification Procedure

 

2.1.         Notice;
Cooperation by Indemnitee. The Indemnitee shall, as a condition precedent to the Indemnitee’s right to be indemnified
under this Agreement, give the Company notice in writing as soon as practicable of any claim made against the Indemnitee for which
indemnification will or could be sought under this Agreement, provided, however, that any failure to provide such notice shall
not affect the Indemnitee’s rights to indemnification hereunder unless and to the extent that such failure to provide notice
materially and adversely prejudices the Company’s right to defend against such action. Notice to the Company shall be directed
to the Chairman of the Company’s Board of Directors at the address shown on the signature page of this Agreement (or such
other address as the Company shall designate in writing to the Indemnitee), In addition, the Indemnitee shall give the Company
such information and cooperation as it may reasonably require and as shall be within the Indemnitee’s power.

 

2.2.         No
Presumptions: Burden of Proof. For purposes of this Agreement, the termination of any claim by judgment, order, settlement
(whether without court approval) or conviction, or upon a plea of guilty, shall not create a presumption that the Indemnitee did
not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification
is not permitted by applicable law.

 

2.3.         Notice
to Insurers. If, at the time of the receipt by the Company of a notice of a claim the Company has liability insurance in effect
which may cover such claim, the Company shall give prompt notice of the commencement of such claim to the insurers in accordance
with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to
cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such action, suit, proceeding, inquiry
or investigation in accordance with the terms of such policies.

 

2.4.         Selection
of Counsel. In the event that the Company shall be obligated to indemnify the Indemnitee and/or pay the Expenses of any claim,
and the proceedings have not been initiated against the Indemnitee by the Company or on its behalf; then the Company shall be
entitled to assume the defense of such claim with counsel selected by the Company, which counsel is reasonably reputable with experience
in the relevant field, and the Company will not be liable to the Indemnitee under this Agreement for any fees of counsel subsequently
incurred by Indemnitee with respect to the same claim; The Company shall and shall cause the counsel retained by it to take all
necessary steps to bring the claim to a close and will keep the Indemnitee informed of key steps in the process. The counsel retained
by the Company to conduct the defense pursuant to this Section shall be bound by a fiduciary duty to the Indemnitee and
to the Company. The Company shall have the right to conduct such defense as it sees fit in its sole discretion.

 

     

     

    

  

3.           Additional
Indemnification Rights; Non-exclusivity. In the event of any change after the date of this Agreement of any applicable law, statute
or rule which expands the right of a corporation of the Company’s state of incorporation to indemnify a member of its board
of directors or an officer, employee, agent or fiduciary, it is the intent of the parties hereto that the Indemnitee shall enjoy
by this Agreement the greater benefits afforded by such change.

 

4.           No
Duplication of Payments. The Company shall not be liable under this Agreement to make any payment in connection with any claim
made against Indemnitee to the extent the Indemnitee has otherwise actually received payment (under any insurance policy, the Articles
of Association or otherwise) of the amounts otherwise indemnifiable hereunder, except for the difference, if any, between the amounts
received by the Indemnitee as aforesaid and the total obligations, liabilities and/or Expenses incurred by the Indemnitee in connection
with such claim. The Company will be entitled to receive any amount collected by Indemnitee from a third party in connection with
liabilities actually indemnified hereunder, to be transferred by the Indemnitee to the Company within fifteen (15) days following
the receipt of said amount. Any amount received from D&O Insurance (as defined below) shall not be deducted from the Limit
Amount hereunder.

 

5.           Partial
Indemnification. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some
or a portion or the obligations, liabilities and/or Expenses incurred in connection with any claim, but not, however, for all of
the total amount thereof, the Company shall nevertheless indemnify the Indemnitee for the portion of such obligations, liabilities,
and/or Expenses to which the Indemnitee is entitled.

 

6.           Exemption.
To the maximum extent permitted by law, the Company hereby exempts and releases Indemnitee from any and all liability to the Company
related to any breach by the Indemnitee of his or her duly of care to the Company, subject to the provisions of Section 7.1 below
and provided that in no event shall the Indemnitee be exempted in advance for a breach of his duty of care to the Company in a
distribution.

 

7.           Exceptions.
Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:

 

7.1.         Excluded
Acts and Omissions. To the extent it is prohibited under applicable law, to indemnify, insure or exempt indemnitee from or
against any liability arising out of: (i) the Indemnitee’s breach of fiduciary duty (other than, in case of insuring the
Indemnity, a breach of fiduciary duty to the Company, provided that the Indemnitee has acted or omitted to act in good faith and
had reasonable ground to believe such action will not prejudice the Company’s interests), (ii) intentional or reckless beach
by the Indemnitee of his or her duly of care to the Company, but other than if done in negligence only, or (iii) the Indemnitee’s
action taken with the intention to unduly profit therefrom, and (iv) any line or penalty payment to propitiate am offense imposed
on the Indemnitee.

 

     

     

    

  

7.2.         Claims
Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to claims initiated or brought voluntarily
by the Indemnitee and not by way of defense, except: (i) with respect to proceedings brought to establish or enforce a right to
indemnification under this Agreement or any other agreement of insurance policy or under the Company’s Articles of Association
now or hereafter in effect relating to claims for indemnification, release, exemption or insurance of the Indemnitee by reason
of his Corporate Capacity, (ii) in specific cases if the Board of Directors has approved the initiation or bringing of such suit,
or (iii) us otherwise required under the laws of the Company’s place of incorporation, regardless of whether the Indemnitee
ultimately is determined to be entitled to such indemnification, advance expense payment of insurance recovery, as the case may
be;

 

8.           Required
Approvals. If for the validation of any of the undertakings in this Agreement any act, resolution, approval or other procedure
is required, the Company undertakes to cause them to be done or adopted in a manner which will enable the Company to fulfill all
its undertakings as aforesaid.

 

9.           Post
Factum Indemnity. Nothing contained in this Agreement derogates from the Company’s right to indemnify the Indemnitee post
factum for any amounts which the Indemnitee may he obligated to pay as set forth in Section 1.1 above without the limitations set
forth in Section 1.2 above.

 

10.         Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall constitute an original.

 

11.         Binding
Effect; Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties
hereto and their respective successors, assigns, including any direct or indirect successor by purchase, merger, consolidation
or otherwise) to all, or substantially all the business and/or assets of the Company, spouses, heirs, personal and legal representative,
executors and administrators.

 

12.         Notice.
All notices and other communications required or permitted hereunder shall be in writing, shall be effective when given and shall
in any event be deemed to be given: (a) five (5) business days after deposit with the applicable postal service, if delivered
by first class mail, postage prepaid, (b) upon delivery, if delivered by hand, (c) one business day after the business day of
deposit with EMS or similar overnight courier, freight prepaid, or (d) one day after the business day of delivery by facsimile
transmission, if delivered by facsimile transmission, with copy by first class mail, postage prepaid, and shall be addressed if
to Indemnitee, at the Indemnitee’s address as set forth beneath indemnitee’s signature to this Agreement and if to the Company
at the address of its principal corporate offices or at such other address as such party may designate by ten days’ advance
written notice to the other party hereto.

 

     

     

    

  

13.         Consent
to Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the arbitration procedures, in accordance with
the terms of the joint venture agreement between the Company and its shareholders, dated September 23, 2016, mutatis mutandis.

 

14.         Severability.
The provisions of this Agreement shall be severable in the event that any of the provision hereof (including any provision within
a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable,
and the remaining provisions shall remain enforceable, to the fullest extent permitted by law. Furthermore, to the fullest extent
possible, the provisions of this Agreement (including, without limitations, each portion of this Agreement containing any provision
held to be invalid, void or otherwise unenforceable that is not itself invalid, void or unenforceable) shall be construed so as
to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

 

15.         Choice
of Law. This Agreement shall be governed by and its provisions construed and enforced in accordance with the laws of the Peoples
Republic of China without regard to the conflict of laws principles thereof or of any other jurisdiction.

 

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

 

17.         Amendment
and Termination. No amendment, modification, termination or cancellation of this Agreement shall be effective unless It is in writing
signed by both the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver
of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

18.         Integration
and Entire Agreement. This Agreement sets forth the entire understanding between the parties hereto and supersedes and usages all
previous written and oral negotiations, commitments, understandings and agreements relating to the subject matter hereof between
the parties hereto.

 

     

     

    

  

Exhibit - Indemnification Agm - 06092016

 

IN WITNESS WHEREOF, the parties hereto have executed this
Indemnification Agreement as of the date first above written

 

	GUANGZHOU INMODE MEDICAL TECHNOLOGY LTD.	
	 	 	 
	By: 	Mr. Moshe Mizrahy	 
	 	 	 
	Title: 	Chairman of the Board	 

 

	Signature:	/s/ Moshe Mizrahy	 

 

	AVNER LUSHI	 	 
	Name	 	 

	Signature:	/s/
    Avner Lushi	 
	 	 	 
	Nationality:	Israeli	 
	 	 	 
	I.D. #: 022840607	 

 

     

     

    

 

FORM OF DIRECTOR INDEMNIFICATION AGREEMENT

Guangzhou InMode Medical Technology Ltd.

 

 

 

INDEMNIFICATION AGREEMENT

 

This Indemnification
Agreement (the “Agreement”) is effective as of January 11, 2017, by and between Guangzhou InMode Medical
Technology Ltd., a company incorporated under the laws of the Peoples Republic of China, with its principal offices at Unit
103-1, 1st Floor, No. 6, Luoxuan 3 rd. International Bio-Island, Guangzhou, Guangdong, China, (the “Company”),
and Mr. Rafael Lickerman, Nationality as Israeli, I.D. number 024070658, residing at 7 Oren St., Haifa  34731 Israel
(the “Indemnitee”).

 

Recitals

 

		A.	The Company and Indemnitee
                                         recognize the difficulty in obtaining full and adequate liability insurance for directors,
                                         officers, employees, agents and fiduciaries, the significant increases in the cost of
                                         such insurance and the general reductions in the coverage of such insurance;

 

		B.	The Company and Indemnitee further recognize the substantial
increase in corporate litigation in general, subjecting directors, officers, employees, agents and fiduciaries to expensive litigation
risks at the same time as the availability and coverage of liability insurance have been severely limited;

 

		C.	The Company desires
                                         to attract and retain the services of highly qualified individuals, such as the
                                         Indemnitee, to serve the Company and, in part, in order to induce the Indemnitee to continue
                                         to provide services to the Company, wishes to provide for the indemnification and advancement
                                         of expense to the Indemnitee, to exempt the Indemnitee from liability to the Company,
                                         and agree to procure reasonable insurance coverage, all of the foregoing to the maximum
                                         extent permitted by law; and

 

		D.	In view of the considerations set forth above, the Company
desires that Indemnitee shall be indemnified and exempted by the Company, and enjoy appropriate insurance coverage, all as set
forth herein.

 

Now, therefore, the Company and the Indemnitee hereby agree
as follows:

 

     

     

    

 

		1.	Indemnification

 

1.1          Indemnification
of Liabilities and Expenses. The Company shall indemnify the Indemnitee to the fullest extent permitted by law and subject
to the limitations set forth in paragraph 1.2, with respect to the following liabilities and expenses imposed on or incurred by
the Indemnitee due to an act or omission by the Indemnitee in his capacity as a director, of the Company, or any subsidiary thereof
(regardless whether it is a subsidiary of the Company at the date hereof), or as a director, officer, employee, agent or fiduciary
of another corporation, collaboration, partnership, joint venture, trust or other enterprise, serving at the request of the Company
(the “Corporate Capacity”): (i) any financial obligation imposed on the Indemnitee in favor of another person by, or
expended by the Indemnitee as a result of, a court judgment, including a settlement or an arbitrator’s award approved by
court, by reason of or arising in connection with any Indemnifiable Event (as defined below); (ii) any and all reasonable litigation
expenses (including attorneys’ fees) and all other costs, expenses and financial obligations (collectively, “Expenses”)
incurred by the Indemnitee or charged to the Indemnitee by court in connection with a proceeding instituted against the
Indemnitee by the Company or on its behalf or by another person, or in any criminal proceedings in which Indemnitee is acquitted,
or in any criminal proceedings of a crime which does not require proof of mens rea (criminal intent) in which Indemnitee
is convicted; and (iii) all Expenses expended by the Indemnitee due to an investigation or a proceeding instituted against the
Indemnitee by an authority qualified to conduct such investigation or proceeding, where such investigation or proceeding is concluded
without the filing of an indictment against the Indemnitee and without any financial obligation imposed on the Indemnitee in lieu
of criminal proceedings, or that is concluded without the Indemnitee’s indictment but with a financial obligation imposed
on Indemnitee in lieu of criminal proceedings with respect to a crime that does not require proof of mens rea (criminal
intent). Such payments of Expenses shall be made by the Company as soon as practicable but in any event no later than fifteen (15)
days after written demand by the Indemnitee therefor is presented to the Company.

 

1.2.         Indemnifiable
Event; Limit Amounts. For the purpose of this Agreement, an “Indemnifiable Event” shall mean any event or occurrence
falling all or in part within any one or more of the categories set forth below. Indemnification pursuant to paragraph 1.l(i)
with respect to each such Indemnifiable Events described below is limited to US$1,000,000 (the “Limit Amount”). The
Limit Amount shall be subject to continuing review and consideration by the Company, and may be amended, if the Board of Directors
determines that such Limit Amount is unreasonable in the circumstances, including if it is less than the financial obligation
or Expenses which can be expected to be incurred by the Indemnitee in connection with the corresponding Indemnifiable Event, If
the Limit Amount is insufficient to cover all amounts to which the Indemnitee and all other persons to whom the Company has agreed
to indemnify for the matters and in the circumstances described herein. then such amount shall be allocated to such persons pro
rata according to the percentage of their culpability, as finally determined by a court in the relevant claim, or absent
such determination or in the event such persons are parties to different claims, in equal amounts.

 

     

     

    

  

The Indemnifiable
Events are described as follows:

 

		a)	Any claim or demand made by customers, suppliers, contractors
or other third parties transacting any form of business with the Company or its subsidiaries, in the ordinary course of their
respective businesses, relating to the negotiations or performance of such transactions, representations or inducements provided
in connection thereto or otherwise,

 

		b)	Any claim or demand made in connection with any transaction
not in the ordinary course of business of either the Company, its subsidiaries or the party making such claim, including the sale,
lease or purchase of any assets or business.

 

		c)	Any claim or demand made by employees, consultants,
agents or other individuals or entities employed by or providing services to the Company or its subsidiaries relating to compensation
owed to them or damages or liabilities suffered by them in connection with such employment or service.

 

		d)	Any claim or demand made under any securities laws
of any jurisdiction and/or any stock exchange rules and regulations of any jurisdiction or by reference thereto, or related in
the failure to disclose any information in the manner or time such information is required to be disclosed pursuant to such laws,
or related to inadequate or improper disclosure of information to shareholders, or prospective shareholder, or related to the purchasing,
holding or disposition of securities of the company or any other investment activity involving or affected by such securities,
including any actions relating to an offer or issuance of securities of the Company or of its subsidiaries to the public by prospectus
or privately by private placement, in Israel or abroad, including the details that shall be set forth in the documents in connection
with execution thereof,

 

		e)	Any claim or demand made for actual or alleged infringement,
misappropriation or misuse of any third party’s intellectual property rights by the Company or its subsidiaries, including
without limitation confidential information, patents, copyrights, design rights, service marks, trade secrets, copyrights, misappropriation
of ideas by the Company or its subsidiaries.

 

     

     

    

  

		f)	Actions taken in connection with the intellectual property
of the Company and any subsidiary, and its protection, including the registration or assertion of rights to intellectual property
and the defense of claims relating thereto.

 

		g)	Any claim or demand made by any leaders or other creditors
or for moneys borrowed by, or other indebtedness of, the Company or its subsidiaries.

 

		h)	Any claim or demand made by any third party suffering
any personal injury and/or bodily injury or damage to business or personal property through any act or omission attributed to
the Company or its subsidiaries, or their respective employees, agents or other persons acting or allegedly acting on their behalf.

 

		i)	Any claim or demand made directly or indirectly in
connection with complete or partial failure, by the Company or any subsidiary thereof, or their respective directors, officers
and employees, to pay, report, keep applicable records or otherwise, of any foreign, federal, state, county, local, municipal
or city taxes or other compulsory payments of any nature whatsoever, including, without limitation, income, sales, use, transfer,
excise, value added, registration, severance, stamp, occupation, customs, duties, real property, personal property, capital stock,
social security, unemployment, disability, payroll or employee withholding or other withholding, including any interest, penalty
or addition thereto, whether disputed or not.

 

		j)	Any claim or demand made by purchasers, holders, lessors
or other users of products of the Company, or individuals treated with such products, for damages or losses related to such use
or treatment.

 

		k)	Any administrative, regulatory or judicial actions
orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance
or violation by any governmental entity or other person alleging potential responsibility or liability arising out of, based on
or related to (x) the presence of, release, spill, emission, leaning, dumping, pouring, deposit, disposal, discharge, leaching
or migration into the environment (each a “Release”) or threatened Release of; or exposure to, any hazardous, toxic,
explosive or radioactive substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing
material, polychlorinated biphenyls (“PCBs”) or PCB-containing materials or equipment, radon gas, infectious or medical
wastes and all other substances or wastes of any nature regulated pursuant to any environmental law, at any location, whether
or not owned, operated, leased or managed by the Company or any of its subsidiaries, or (y) circumstances forming the basis of
any violation of any environmental law or environmental permit, license, registration or other authorization required under applicable
environmental law.

 

     

     

    

 

		l)	Any administrative, regulatory or judicial actions,
orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance
or violation by any governmental entity or other person alleging the failure to comply with any statute, law, ordinance, rule,
regulation, order or decree of any governmental entity applicable to the Company or any of its subsidiaries, or any of their respective
businesses or operations.

 

		m)	Participation, and/or non-participation at the Company’s
board meetings, incompliance regarding the substance and the process of reaching board resolutions, bona fide expression of opinion
and/or voting and/or abstention from voting at the Company’s board meetings.

 

		n)	Approval of corporate actions including the approval
of the acts of the Company’s management, their resolutions, guidance and their supervision.

 

		o)	Claims of failure to exercise business judgment and
a reasonable level of proficiency, expertise, care and other forms of fiduciary duties and duties of loyalty in regard
of the Company’s business, as required under applicable laws.

 

		p)	Resolutions and/or actions relating to a merger of
the Company and/or of its subsidiaries, the issuance of shares or securities exercisable into shares of the Company, changing
the share capital of the Company, formation of subsidiaries, reorganization, winding up or sale of all or part of the business,
operations or shares of the Company.

 

1.3.         Mandatory
Payment of Expenses. Notwithstanding any other provision of this Agreement other than Section 7 hereof, to the extent that
the Indemnitee has been successful on the merits or otherwise, including, without limitation, the dismissal of an action without
prejudice, in defense of any action, suit, proceeding, inquiry or investigation referred to in Section 1.1 hereof or in the defense
of any claim, issue or matter therein, the Indemnitee shall be indemnified against all financial obligations and Expenses incurred
by the Indemnitee in connection therewith.

 

     

     

    

 

		2.	Indemnification Procedure

 

2.1.         Notice;
Cooperation by Indemnitee. The Indemnitee shall, as a condition precedent to the Indemnitee’s right to be indemnified
under this Agreement, give the Company notice in writing as soon as practicable of any claim made against the Indemnitee for which
indemnification will or could be sought under this Agreement, provided, however, that any failure to provide such notice shall
not affect the Indemnitee’s rights to indemnification hereunder unless and to the extent that such failure to provide notice
materially and adversely prejudices the Company’s right to defend against such action. Notice to the Company shall be directed
to the Chairman of the Company’s Board of Directors at the address shown on the signature page of this Agreement (or such
other address as the Company shall designate in writing to the Indemnitee). In addition, the Indemnitee shall give the Company
such information and cooperation as it may reasonably require and as shall be within the Indemnitee’s power.

 

2.2.         No
Presumptions; Burden of Proof. For purposes of this Agreement, the termination of any claim by judgment, order, settlemant
(whether without court approval) or conviction, or upon a plea of guilty, shall not create a presumption that the Indemnitee did
not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification
is not permitted by applicable law.

 

2.3.         Notice
to Insurers. If, at the time of the receipt by the Company of a notice of a claim the Company has liability insurance in effect
which may cover such claim, the Company shall give prompt notice of the commencement of such claim to the insurers in accordance
with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to
cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such action, suit, proceeding, inquiry
or investigation in accordance with the terms of such policies.

 

2.4.         Selection
of Counsel. In the event that the Company shall be obligated to indemnify the Indemnitee and/or pay the Expenses of any claim,
and the proceedings have not been initiated against the Indemnitee by the Company or on its behalf; then the Company shall be
entitled to assume the defense of such claim with counsel selected by the Company, which counsel is reasonably reputable with experience
in the relevant field, and the Company will not be liable to the Indemnitee under this Agreement for any fees of counsel subsequently
incurred by Indemnitee with respect to the same claim; The Company shall and shall cause the counsel retained by it to take all
necessary steps to bring the claim to a close and will keep the Indemnitee informed of key steps in the process. The counsel retained
by the Company to conduct the defense pursuant to this Section shall be bound by a fiduciary duty to the Indemnitee and
to the Company. The Company shall have the right to conduct such defense as it sees fit in its sole discretion.

 

     

     

    

  

3.           Additional
Indemnification Rights; Non-exclusivity. In the event of any change after the date of this Agreement of any applicable law,
statute or rule which expands the right of a corporation of the Company’s state of incorporation to indemnify a member
of its board of directors or an officer, employee, agent or fiduciary, it is the intent of the parties hereto that the
Indemnitee shall enjoy by this Agreement the greater benefits afforded by such change.

 

4.           No
Duplication of Payments. The Company shall not be liable under this Agreement to make any payment in connection with any claim
made against Indemnitee to the extent the Indemnitee has otherwise actually received payment (under any insurance policy, the Articles
of Association or otherwise) of the amounts otherwise indemnifiable hereunder, except for the difference, if any, between the amounts
received by the Indemnitee as aforesaid and the total obligations, liabilities and/or Expenses incurred by the Indemnitee in connection
with such claim. The Company will be entitled to receive any amount collected by Indemnitee from a third party in connection with
liabilities actually indemnified hereunder, to be transferred by the Indemnitee to the Company within fifteen (15) days following
the receipt of said amount. Any amount received from D&O Insurance (as defined below) shall not be deducted from the Limit
Amount hereunder.

 

5.           Partial
Indemnification. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some
or a portion of the obligations, liabilities and/or Expenses incurred in connection with any claim, but not, however, for all of
the total amount thereof, the Company shall nevertheless indemnify the Indemnitee for the portion of such obligations, liabilities
and/or Expenses to which the Indemnitee is entitled.

 

6.           Exemption.
To the maximum extent permitted by law, the Company hereby exempts and releases Indemnitee from any and all liability to the Company
related to any breach by the Indemnitee of his or her duty of care to the Company, subject to the provisions of Section 7.1 below
and provided that in no event shall the Indemnitee be exempted in advance for a breach of his duty of care to the Company in a
distribution.

 

7.           Exceptions.
Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:

 

7.1.         Excluded
Acts and Omissions. To the extent it is prohibited under applicable law, to indemnify, insure or exempt indemnitee from or
against any liability arising out of: (i) the Indemnitee’s breach of fiduciary duty (other than, in case of insuring the
Indemnity, a breach of fiduciary duty to the Company, provided that the Indemnitee has acted or omitted to act in good faith and
had reasonable ground to believe such action will not prejudice the Company’s interests), (ii) intentional or reckless beach
by the Indemnitee of his or her duty of care to the Company, but other than if done in negligence only, or (iii)
the indemnitee’s action taken with the intention to unduly profit therefrom, and (iv) any line or penalty payment to propitiate
an offense imposed on the Indemnitee.

 

     

     

    

  

7.2.         Claims
Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to claims initiated or brought voluntarily
by the Indemnitee and not by way of defense, except: (i) with respect to proceedings brought to establish or enforce a right to
indemnification under this Agreement or any other agreement of insurance policy or under the Company’s Articles of Association
now or hereafter in effect relating to claims for indemnification, release, exemption or insurance of the Indemnitee by reason
of his Corporate Capacity, (ii) in specific cases if the Board of Directors has approved the initiation or bringing of such
suit, or (iii) as otherwise required under the laws of the Company’s place of incorporation, regardless of whether the Indemnitee
ultimately is determined to be entitled to such indemnification, advance expense payment of insurance recovery, as the case may
be;

 

8.           Required
Approvals. If for the validation of any of the undertakings in this Agreement any act, resolution, approval or other procedure
is required, the Company undertakes to cause them to be done or adopted in a manner which will enable the Company to fulfill all
its undertakings as aforesaid.

 

9.           Post
Factum Indemnity. Nothing contained in this Agreement derogates from the Company’s right to indemnify the Indemnitee post
factum for any amounts which the Indemnitee may he obligated to pay as set forth in Section 1.1 above without the limitations set
forth in Section 1.2 above.

 

10.         Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall constitute an original.

 

11.         Binding
Effect; Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties
hereto and their respective successors, assigns, including any direct or indirect successor by purchase, merger, consolidation
or otherwise) to all, or substantially all the business and/or assets of the Company, spouses, heirs, personal and legal representative,
executors and administrators.

  

12.         Notice.
All notices and other communications required or permitted hereunder shall be in writing, shall be effective when given and shall
in any event be deemed to be given: (a) five (5) business days after deposit with the applicable postal service, if delivered by
first class mail, postage prepaid, (b) upon delivery, if delivered by hand, (c) one business day after the business day of deposit
with EMS or similar overnight courier, freight prepaid, or (d) one day after the business day of delivery by facsimile transmission,
if delivered by facsimile transmission, with copy by first class mail, postage prepaid, and shall be addressed if to Indemnitee,
at the Indemnitee’s address as set forth beneath indemnitee’s signature to this Agreement and if to the
Company at the address of its principal corporate offices or at such other address as such party may designate by ten days’
advance written notice to the other party hereto.

 

     

     

    

  

13.         Consent
to Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the arbitration procedures, in accordance with
the terms of the joint venture agreement between the Company and its shareholders, dated September 23, 2016, mutatis mutandis.

 

14.         Severability.
The provisions of this Agreement shall be severable in the event that any of the provision hereof (including any provision within
a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable,
and the remaining provisions shall remain enforceable, to the fullest extent permitted by law. Furthermore, to the fullest extent
possible, the provisions of this Agreement (including, without limitations, each portion of this Agreement containing any provision
held to be invalid, void or otherwise unenforceable that is not itself invalid, void or unenforceable) shall be construed so as
to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

 

15.         Choice
of Law. This Agreement shall be governed by and its provisions construed and enforced in accordance with the laws of the Peoples
Republic of China without regard to the conflict of laws principles thereof or of any other jurisdiction.

 

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

 

17.         Amendment
and Termination. No amendment, modification, termination or cancellation of this Agreement shall be effective unless it is in writing
signed by both the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver
of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

18.         Integration
and Entire Agreement. This Agreement sets forth the entire understanding between the parties hereto and supersedes and usages all
previous written and oral negotiations, commitments, understandings and agreements relating to the subject matter hereof between
the parties hereto.

 

     

     

    

  

Exhibit - Indemnification Agm - 06092016

 

IN WITNESS WHEREOF, the parties hereto have executed this
Indemnification Agreement as of the date first above written

 

	GUANGZHOU INMODE MEDICAL TECHNOLOGY LTD.	
	 	 	 
	By: 	Mr. Moshe Mizrahy	 
	 	 	 
	Title: 	Chairman of the Board	 

 

	Signature:	/s/ Moshe Mizrahy	 

 

	RAFAEL LICKERMAN	 	 
	Name	 	 

	Signature:	/s/
    Rafael Lickerman	 
	 	 	 
	Nationality:	Israeli	 
	 	 	 
	I.D. #: 024070658	 

 

     

     

    

 

FORM OF DIRECTOR INDEMNIFICATION AGREEMENT

Guangzhou InMode Medical Technology Ltd.

 

 

 

INDEMNIFICATION AGREEMENT

 

This Indemnification
Agreement (the “Agreement”) is effective as of January 11, 2017, by and between Guangzhou InMode Medical
Technology Ltd., a company incorporated under the laws of the Peoples Republic of China, with its principal offices at Unit
103-1, 1st Floor, No. 6, Luoxuan 3 rd. International Bio-Island, Guangzhou, Guangdong, China, (the “Company”),
and Mr. Yehoshua Gleilman, Nationality as Israeli, I.D. number 008459828, residing at 64 Pinkas St., Tel Aviv,   Israel
(the “Indemnitee”).

 

Recitals

 

		A.	The Company and Indemnitee
                                         recognize the difficulty in obtaining full and adequate liability insurance for directors,
                                         officers, employees, agents and fiduciaries, the significant increases in the cost of
                                         such insurance and the general reductions in the coverage of such insurance;

 

		B.	The Company and Indemnitee further recognize the substantial
increase in corporate litigation in general, subjecting directors, officers, employees. agents and fiduciaries to expensive litigation
risks at the same time as the availability and coverage of liability insurance have been severely limited;

 

		C.	The Company desires
                                         to attract and  retain the services of highly qualified individuals, such as the
                                         Indemnitee, to serve the Company and, in part, in order to induce the Indemnitee to continue
                                         to provide services to the Company, wishes to provide for the indemnification and advancement
                                         of expense to the Indemnitee, to exempt the Indemnitee from liability to the Company,
                                         and agree to procure reasonable insurance coverage, all of the foregoing to the maximum
                                         extent permitted by law; and

 

		D.	In view of the considerations set forth above, the Company
desires that Indemnitee shall be indemnified and exempted by the Company, and enjoy appropriate insurance coverage, all as set
forth herein.

 

Now, therefore, the Company and the Indemnitee hereby agree
as follows:

 

     

     

    

 

		1.	Indemnification

 

1.1          Indemnification
of Liabilities and Expenses. The Company shall indemnify the Indemnitee to the fullest extent permitted by law and subject
to the limitations set forth in paragraph 1.2, with respect to the following liabilities and expenses imposed on or incurred by
the Indemnitee due to an act or omission by the Indemnitee in his capacity as a director, of the Company, or any subsidiary thereof
(regardless whether it is a subsidiary of the Company at the date hereof), or as a director, officer, employee, agent or fiduciary
of another corporation, collaboration, partnership, joint venture, trust or other enterprise, serving at the request of the Company
(the “Corporate Capacity”): (i) any financial obligation imposed on the Indemnitee in favor of another person by, or
expended by the Indemnitee as a result of, a court judgment, including a settlement or an arbitrator’s award approved by
court, by reason of or arising in connection with any Indemnifiable Event (as defined below); (ii) any and all reasonable litigation
expenses (including attorneys’ fees) and all other costs, expenses and financial obligations (collectively, “Expenses”)
incurred by the Indemnitee or charged to the Indemnitee by court in connection with a proceeding instituted against the
Indemnitee by the Company or on its behalf or by another person, or in any criminal proceedings in which Indemnitee is acquitted,
or in any criminal proceedings of a crime which does not require proof of mens rea (criminal intent) in which Indemnitee
is convicted; and (iii) all Expenses expended by the Indemnitee due to an investigation or a proceeding instituted against the
Indemnitee by an authority qualified to conduct such investigation or proceeding, where such investigation or proceeding is concluded
without the filing of an indictment against the Indemnitee and without any financial obligation imposed on the Indemnitee in lieu
of criminal proceedings, or that is concluded without the Indemnitee’s indictment but with a financial obligation imposed
on Indemnitee in lien of criminal proceedings with respect to a crime that does not require proof of mens rea (criminal
intent). Such payments of Expenses shall be made by the Company as soon as practicable but in any event no later than fifteen (15)
days after written demand by the Indemnitee therefor is presented to the Company.

 

1.2.         Indemnifiable
Event; Limit Amounis. For the purpose of this Agreement, an “Indemnifiable Event” shall mean any event or occurrence
falling all or in part within any one or more of the categories set forth below. Indemnification pursuant to paragraph 1.l(i)
with respect to each such Indemnifiable Events described below is limited to US$1,000,000 (the “Limit Amount”). The
Limit Amount shall be subject to continuing review and consideration by the Company, and may be amended, if the Board of Directors
determines that such Limit Amount is unreasonable in the circumstances, including if it is less than the financial obligation
or Expenses which can be expected to be incurred by the Indemnitee in connection with the corresponding Indemnifiable Event. If
the Limit Amount is insufficient to cover all amounts to which the Indemnitee and all other persons to whom the Company has agreed
to indemnify for the matters and in the circumstances described herein, then such amount shall be allocated to such persons pro
rata according to the percentage of their culpability, an finally determined by a court in the relevant claim, or absent such
determination or in the event such persons are parties to different claims, in equal amounts.

 

     

     

    

  

The Indemnifiable
Events are described as follows:

 

		a)	Any claim or demand made by customers, suppliers, contractors
or other third parties transacting any form of business with the Company or its subsidiaries, in the ordinary course of their
respective businesses, relating to the negotiations or performance of such transactions, representations or inducements provided
in connection thereto or otherwise,

 

		b)	Any claim or demand made in connection with arty transaction
not in the ordinary course of business of either the Company, its subsidiaries or the party making such claim, including the sale,
lease or purchase of any assets or business.

 

		c)	Any claim or demand made by employees, consultants,
agents or other individuals or entities employed by or providing services to the Company or its subsidiaries relating to compensation
owed to them or damages or liabilities suffered by them in connection with such employment or service.

 

		d)	Any claim or demand made under any securities laws
of any jurisdiction and/or any stock exchange rules and regulations of any jurisdiction or by reference thereto, or related in
the failure to disclose any information in the manner or time such information is required to be disclosed pursuant to such laws,
or related to inadequate or improper disclosure of information to shareholders, or prospective shareholders, or related to the purchasing,
holding or disposition of securities of the company or any other investment activity involving or affected by such securities,
including any actions relating to an offer or issuance of securities of the Company or of its subsidiaries to the public by prospectus
or privately by private placement, in Israel or abroad, including the details that shall be set forth in the documents in connection
with execution thereof,

 

		e)	Any claim or demand made for actual or alleged infringement,
misappropriation or misuse of any third party’s intellectual property rights by the Company or its subsidiaries, including
without limitation confidential information, patents, copyrights, design rights, service marks, trade secrets, copyrights, misappropriation
of ideas by the Company or its subsidiaries.

 

     

     

    

  

		f)	Actions taken in connection with the intellectual property
of the Company and any subsidiary, and its protection, including the registration or assertion of rights to intellectual property
and the defense of claims relating thereto.

 

		g)	Any claim or demand made by any leaders or other creditors
or for moneys borrowed by, or other indebtedness of, the Company or its subsidiaries.

 

		h)	Any claim or demand made by any third party suffering
any personal injury and/or bodily injury or damage to business or personal property through any act or omission attributed to
the Company or its subsidiaries, or their respective employees, agents or other persons acting or allegedly acting on their behalf.

 

		i)	Any claim or demand made directly or indirectly in
connection with complete or partial failure, by the Company or any subsidiary thereof, or their respective directors, officers
and employees, to pay, report, keep applicable records or otherwise, of any foreign, federal, state, county, local, municipal
or city taxes or other compulsory payments of any nature whatsoever, including, without limitation, income, sales, use, transfer,
excise, value added, registration, severance, stamp, occupation, customs, duties, real property, personal property, capital stock,
social security, unemployment, disability, payroll or employee withholding or other withholding, including any interest, penalty
or addition thereto, whether disputed or not.

 

		j)	Any claim or demand made by purchasers, holders, lessors
or other users of products of the Company, or individuals treated with such products, for damages or losses related to such use
or treatment.

 

		k)	Any administrative, regulatory or judicial actions
orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance
or violation by any governmental entity or other person alleging potential responsibility or liability arising out of, based on
or related to (x) the presence of, release, spill, emission, leaning, dumping, pouring, deposit, disposal, discharge, leaching
or migration into the environment (each a “Release”) or threatened Release of; or exposure to, any hazardous, toxic,
explosive or radioactive substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing
material, polychlorinated biphenyls (“PCBs”) or PCB-containing materials or equipment, radon gas, infectious or medical
wastes and all other substances or wastes of any nature regulated pursuant to any environmental law, at any location, whether
or not owned, operated, leased or managed by the Company or any of its subsidiaries, or (y) circumstances forming the basis of
any violation of any environmental law or environmental permit, license, registration or other authorization required under applicable
environmental law.

 

     

     

    

 

		l)	Any administrative, regulatory or judicial actions,
orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance
or violation by any governmental entity or other person alleging the failure to comply with any statute, law, ordinance, rule,
regulation, order or decree of any governmental entity applicable to the Company or any of its subsidiaries, or any of their respective
businesses or operations.

 

		m)	Participation, and/or non-participation at the Company’s
board meetings, incompliance regarding the substance and the process of reaching board resolutions, bona fide expression of opinion
and/or voting and/or abstention from voting at the Company’s board meetings.

 

		n)	Approval of corporate actions including the approval
of the acts of the Company’s management, their resolutions, guidance and their supervision.

 

		o)	Claims of failure to exercise business judgment and
a reasonable level of proficiency, expertise, care and other forms of fiduciary duties and duties of loyalty in regard
of the Company’s business, as required under applicable laws.

 

		p)	Resolutions and/or actions relating to a merger of
the Company and/or of its subsidiaries, the issuance of shares or securities exercisable into shares of the Company, changing
the share capital of the Company, formation of subsidiaries, reorganization, winding up or sale of all or part of the business,
operations or shares of the Company.

 

1.3.         Mandatory
Payment of Expenses. Notwithstanding any other provision of this Agreement other than Section 7 hereof, to the extent that
the Indemnitee has been successful on the merits or otherwise, including, without limitation, the dismissal of an action without
prejudice, in defense of any action, suit, proceeding, inquiry or investigation referred to in Section 1.1 hereof or in the defense
of any claim, issue or matter therein, the Indemnitee shall be indemnified against all financial obligations and Expenses incurred
by the Indemnitee in connection therewith.

 

     

     

    

 

		2.	Indemnification Procedure

 

2.1.         Notice;
Cooperation by Indemnitee. The Indemnitee shall, as a condition precedent to the Indemnitee’s right to be indemnified
under this Agreement, give the Company notice in writing as soon as practicable of any claim made against the Indemnitee for which
Indemnification will or could be sought under this Agreement, provided, however, that any failure to provide such notice shall
not affect the Indemnitee’s rights to indemnification hereunder unless and to the extent that such failure to provide notice
materially and adversely prejudices the Company’s right to defend against such action. Notice to the Company shall be directed
to the Chairman of the Company’s Board of Directors at the address shown on the signature page of this Agreement (or such
other address as the Company shall designate in writing to the Indemnitee). In addition, the Indemnitee shall give the Company
such information and cooperation as it may reasonably require and as shall be within the Indemnitee’s power.

 

2.2.         No
Presumptions; Burden of Proof. For purposes of this Agreement, the termination of any claim by judgment, order, settlement
(whether without court approval) or conviction, or upon a plea of guilty, shall not create a presumption that the Indemnitee did
not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification
is not permitted by applicable law.

 

2.3.         Notice
to Insurers. If, at the time of the receipt by the Company of a notice of a claim the Company has liability insurance in effect
which may cover such claim, the Company shall give prompt notice of the commencement of such claim to the insurers in accordance
with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to
cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such action, suit, proceeding, inquiry
or investigation in accordance with the terms of such policies.

 

2.4.         Selection
of Counsel. In the event that the Company shall be obligated to indemnify the Indemnitee and/or pay the Expenses of any claim,
and the proceedings have not been initiated, against the Indemnitee by the Company or on its behalf; then the Company shall be
entitled to assume the defense of such claim with counsel selected by the Company, which counsel is reasonably reputable with experience
in the relevant field, and the Company will not be liable to the Indemnitee under this Agreement for any fees of counsel subsequently
incurred by Indemnitee with respect to the same claim; The Company shall and shall cause the counsel retained by it to take all
necessary steps to bring the claim to a close and will keep the Indemnitee informed of key steps in the process. The counsel retained
by the Company to conduct the defense pursuant to this Section shall be bound by a fiduciary duty to the Indemnitee and
to the Company. The Company shall have the right to conduct such defense as it sees fit in its sole discretion.

 

     

     

    

  

3.           Additional
Indemnification Rights; Non-exclusivity, In the event of any change after the date of this Agreement of any applicable law, statute
or rule which expands the right of a corporation of the Company’s state of incorporation to indemnify a member of its board
of directors or an officer, employee, agent or fiduciary, it is the intent of the parties hereto that the Indemnitee shall enjoy
by this Agreement the greater benefits afforded by such change.

 

4.           No
Duplication of Payments. The Company shall not be liable under this Agreement to make any payment in connection with any claim
made against Indemnitee to the extent the Indemnitee has otherwise actually received payment (under any insurance policy, the Articles
of Association or otherwise) of the amounts otherwise indemnifiable hereunder, except for the difference, if any, between the amounts
received by the Indemnitee as aforesaid and the total obligations, liabilities and/or Expenses incurred by the Indemnitee in connection
with such claim. The Company will be entitled to receive any amount collected by Indemnitee from a third party in connection with
liabilities actually indemnified hereunder, to be transferred by the Indemnitee to the Company within fifteen (15) days following
the receipt of said amount. Any amount received from D&O Insurance (as defined below) shall not be deducted from the Limit
Amount hereunder.

 

5.           Partial
Indemnification. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some
or a portion of the obligations, liabilities and/or Expenses incurred in connection with any claim, but not, however, for all of
the total amount thereof, the Company shall nevertheless indemnify the Indemnitee for the portion of such obligations, liabilities
and/or Expenses to which the Indemnitee is entitled.

 

6.           Exemption.
To the maximum extent permitted by law, the Company hereby exempts and releases Indemnitee from any and all liability to the Company
related to any breach by the Indemnitee of his or her duly of care to the Company, subject to the provisions of Section 7.1 below
and provided that in no event shall the Indemnitee be exempted in advance for a breach of his duty of care to the Company in a
distribution.

 

7.           Exceptions.
Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:

 

7.1.         Excluded
Acts and Omissions. To the extent it is prohibited under applicable law, to indemnify, insure or exempt Indemnitee from or
against any liability arising out of: (i) the Indemnitee’s breach of fiduciary duty (other than, in case of insuring the
Indemnity, a breach of fiduciary duty to the Company, provided that the Indemnitee has acted or omitted to act in good faith and
had reasonable ground to believe such action will not prejudice the Company’s interests), (ii) intentional or reckless beach
by the Indemnitee of his or her duly of care to the Company, but other than if done in negligence only, or (iii)
the Indemnitee’s action taken with the intention to unduly profit therefrom, and (iv) any line or penalty payment to propitiate
am offense imposed on the Indemnitee.

 

     

     

    

  

7.2.         Claims
Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to claims initiated or brought voluntarily
by the Indemnitee and not by way of defense, except: (i) with respect to proceedings brought to establish or enforce a right to
indemnification under this Agreement or any other agreement of insurance policy or under the Company’s Articles of Association
now or hereafter in effect relating to claims for indemnification, release, exemption or insurance of the Indemnitee by reason
of his Corporate Capacity, (ii) in specific cases if the Board of Directors has approved the initiation or bringing of such
suit, or (iii) us otherwise required under the laws of the Company’s place of incorporation, regardless of whether the Indemnitee
ultimately is determined to be entitled to such indemnification, advance expense payment of insurance recovery, as the case may
be;

 

8.           Required
Approvals. If for the validation of any of the undertakings in this Agreement any act, resolution, approval or other procedure
is required, the Company undertakes to cause them to be done or adopted in a manner which will enable the Company to fulfill all
its undertakings as aforesaid.

 

9.           Post
Factum Indemnity. Nothing contained in this Agreement derogates from the Company’s right to indemnify the Indemnitee post
factum for any amounts which the Indemnitee may he obligated to pay as set forth in Section 1.1 above without the limitations set
forth in Section 1.2 above.

 

10.         Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall constitute an original.

 

11.         Binding
Effect; Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties
hereto and their respective successors, assigns, including any direct or indirect successor by purchase, merger, consolidation
or otherwise) to all, or substantially all the business and/or assets of the Company, spouses, heirs, personal and legal representative,
executors and administrators.

 

12.         Notice.
All notices and other communications required or permitted hereunder shall be in writing, shall be effective when given and shall
in any event be deemed to be given: (a) five (5) business days after deposit with the applicable postal service, if delivered
by first class mail, postage prepaid, (b) upon delivery, if delivered by hand, (c) one business day after the business day of
deposit with EMS or similar overnight courier, freight prepaid, or (d) one day after the business day of delivery by facsimile
transmission, if delivered by facsimile transmission, with copy by first class mail, postage prepaid, and shall be addressed
if to Indemnitee, at the Indemnitee’s address as set forth beneath indemnitee’s signature to this Agreement and if
to the Company at the address of its principal corporate offices or at such other address as such party may designate by ten days’
advance written notice to the other party hereto.

 

     

     

    

  

13.         Consent
to Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the arbitration procedures, in accordance with
the terms of the joint venture agreement between the Company and its shareholders, dated September 23, 2016, mutatis mutandis.

 

14.         Severability.
The provisions of this Agreement shall be severable in the event that any of the provision hereof (including any provision within
a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable,
and the remaining provisions shall remain enforceable, to the fullest extent permitted by law. Furthermore, to the fullest extent
possible, the provisions of this Agreement (including, without limitations, each portion of this Agreement containing any provision
held to be invalid, void or otherwise unenforceable that is not itself invalid, void or unenforceable) shall be construed so as
to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

 

15.         Choice
of Law. This Agreement shall be governed by and its provisions construed and enforced in accordance with the laws of the Peoples
Republic of China without regard to the conflict of laws principles thereof or of any other jurisdiction.

 

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

 

17.         Amendment
and Termination. No amendment, modification, termination or cancellation of this Agreement shall be effective unless it is in writing
signed by both the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver
of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

18.         Integration
and Entire Agreement. This Agreement sets forth the entire understanding between the parties hereto and supersedes and usages all
previous written and oral negotiations, commitments, understandings and agreements relating to the subject matter hereof between
the parties hereto.

 

     

     

    

  

Exhibit - Indemnification Agm - 06092016

 

IN WITNESS WHEREOF, the parties hereto have executed this
Indemnification Agreement as of the date first above written

 

	GUANGZHOU INMODE MEDICAL TECHNOLOGY LTD.	
	 	 	 
	By: 	Mr. Moshe Mizrahy	 
	 	 	 
	Title: 	Chairman of the Board	 

 

	Signature:	/s/ Moshe Mizrahy	 

 

	YEHOSHUA GLEILMAN	 	 
	Name	 	 

	Signature:	/s/
    Yehoshua Gleilman	 
	 	 	 
	Nationality:	Israeli	 
	 	 	 
	I.D. #: 008459828	 

 

     

     

    

 

19.1.11

 

License Agreement

 

     

     

    

  

LICENSE AGREEMENT

 

THIS LICENSE AGREEMENT (“Agreement”)
is made as of this 8 day of SEPTEMBER. 2016 (the “Effective Date”) by and among:

 

Guangzhou InMode Medical Technology Ltd.
(a company in formation) principal place of business will be at:6/F No.3 Luoxuan 4 Rd. bio-island Guangzhou, Guangdong China (“Party
A”), and Invasix Ltd., a company incorporated and existing under the laws of Israel, having a principal place
of business at: Tavor Building. Sha’ar Yokneam. P.O. Box 533. Yokneam 20692. Israel (“Party B”) (each
of the above shall be referred to as a “Party” and collectively as the “Parties”)

 

	WHEREAS	Party B is the owner of the entire right, title and interest in the Intellectual Property (as defined below):
	 	 
	WHEREAS	Part B wishes to grant Party A and Party A desires to obtain an exclusive
    perpetual royalty bearing license to use the Intellectual Property in the Territory (as defined below) subject to the terms
    herein.

 

NOW, THEREFORE, the parties agree as
follows:

 

		1.	Preamble and Interpretation

 

		1.1	The preamble to this License Agreement forms an integral and binding part of this agreement.

 

		1.2	“Intellectual Property” shall mean all intellectual property belonging to Party
B or to Inmode Ltd. (including, directly and indirectly, any and all future developments and rights), except with respect to the
intellectual property of the BodyTite platform (the “BodyTite”).

 

		1.3	“Party B Products’” shall mean all devices produced by Party B or InMode
Ltd.. and/or by any other subsidiary or affiliate of Party B (subject to Section 2.2 with respect to future developments developed
jointly with third parties).

 

		1.3	“Territory” shall mean the territory of People’s Republic of China, Hong
Kong, Taiwan and Macau.

 

		2.	Grant of License; Undertaking of the Parties

 

		2.1	Party B hereby grants Party A an exclusive perpetual royalty bearing license, for the Territory,
to make use, license, sub-license and transfer the Intellectual Properly (the “License”).

 

		2.2	The License also includes the right to develop, do clinical studies and regulatory- activities,
manufacture, sell, market, distribute, support and provide warranty for all of Party B Products (except for the BodyTite) provided,
however, that with respect to future developments jointly developed by Party B with third parties. Party B undertakes to make best
reasonable efforts to obtain for Party A a sublicensc allowing it to the same rights granted to Party B by such third party, in
the Territory.

 

		2.3	Party B represents warrants and undertakes that subject to the terms herein, it does not and will
not develop, possess or otherwise own any title, interest or rights to any technology or know-how for the manufacturing sale, market,
distribution, support and warranty for all of Party B Products, in any subsidiary or affiliate (including InMode), other than Party
B, unless such technology or know-how becomes part of the Intellectual Property.

 

     

     

    

  

		2.4	Party B shall endeavor to assign existing exclusive distribution rights of the BodyTite to Party
A (while it is clarified that the BodyTite is independently distributed and sold by Party B and its distributers in the Territory).

 

		2.5	Party B shall grant the Party A an exclusive and perpetual right to distribute Party B Products
in the Territory (except for the Body Tite), at most favorable conditions for the purchase of Party B Products.

 

		2.6	Party B shall provide, free of charge, full support in order to enable Party A to conduct its
                                                           activity as contemplated to be conducted, including, without limitation, provide with no delay, all necessary assistance by
                                                           way of knowledge transfer, development of Party A’s manufacturing support and maintenance capabilities, second level
                                                           support if needed, training of Party A’s employees and managers, etc. The support services will include, among others,
                                                           assistance in the erection of the production line by Party A, hire local work force and the training thereof, provide
                                                           know-how and implementation thereof locally, technical support services, etc. For the removal of doubt and notwithstanding
                                                           the above to the contrary, Party B will be entitled to a one-time payment from Party A, at a total of US$100,000, for all
                                                           support services granted, which amount will be paid to Party B not earlier than 24 months from the Closing of the Joint
                                                           Venture Agreement to be entered into between Party B and Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP) (the
                                                           “JVA”).

 

		2.7	All Party B Products will be covered by a warranty, as customary by Party B, during which Party
B undertakes to replace or remedy any defects in the Party B Products. Moreover, Party B will obtain product liability insurance
coverage, in such amount per event, as customary in the industry, which policy will be in effect at the Effective Date and
throughout the term of this Agreement.

 

		2.8	Royalties. Following commencement
                                         of production of Party B Products by Party A and the sale thereof within the Territory.
                                         Party B will be entitled to a royalty payment from Party A, at fair market value and
                                         on such terms as shall be determined by the Parties.

 

		2.9	Party A agrees that this Agreement does not grant it any rights of any nature other than as
                                                           detailed in  this Agreement regarding the Intellectual Property. Except for the express and limited License is granted
                                                           herein, no other licenses are granted by implication, estoppels or otherwise.

 

		3.	Additional Terms

 

		3.1	Sections 23(indemnification), 40 (Confidentiality) and 44 (Miscellaneous) of the JVA are
                                                           hereby incorporated by reference to this Agreement and shall apply mutatis mutandis herein.

 

		3.2	This License Agreement shall terminate simultaneously with the termination or expiration of the
JVA for any reason.

 

		3.3.	To the extent that any provision or undertaking herein applies to any subsidiary or affiliate of
Party B, including In Mode, then Party B shall procure that such subsidiary and/or affiliate, including Inmode, shall perform such
provision or undertaking.

 

[Intentionally left blank - Next page Signature
Page]

 

    	2

     

    

  

[Signature Page - Exhibit 11.2 License Agreement)

 

And in witness the Parties sign this Agreement
on this 8 day of September, 2016

 

	/s/ Moshe Mizrahy	 	/s/ Moshe Mizrahy
	Invasix Ltd.	 	Guangzhou InMode
	 	 	Medical Technology Ltd.
	 	 	 
	By its authorized signatories:	 	By its authorized signatories:
	Name and title:	 	Name: Mr. Moshe Mizrahy
	Name and title:	 	Title: Legal Representative

 

	
        
	

 

Execution Copy

 

    	3

     

    

  

19.1.12

 

Resolution of the Company Approving the
Agreement

 

     

     

    

  

Guangzhou
InMode Medical Technology Ltd.

 

(The “Company”)

WRITTEN RESOLUTIONS OF

THE BOARD OF DIRECTORS

 

January 11, 2017

 

The undersigned, being
all of the members of the Board of Directors (the “Board”) of the Company, acting by unanimous written consent,
in accordance with the “Law of the People’s Republic of China on Sino-Foreign Equity Joint Ventures”, the “Regulations
for the Implementation of the Law of the People’s Republic of China on Sino-foreign Equity Joint Ventures”, other applicable
laws, and the Articles of Association of the Company, waiving any rights to prior notice and consenting to the adoption of the
following resolutions without a meeting of the Board, do hereby adopt the following resolutions:

 

WHEREAS, on September
[23], 2016 the Company entered into that certain Joint Venture Agreement with Guangzhou Sino-Israel Bio-Industry Investment
Fund (LLP) (“GIBF”) and Invasix, Ltd. (“Invasix”), including all documents and agreements
ancillary thereto, and all transactions contemplated thereby, a copy of which is attached hereto as Exhibit A (the
 “JV Agreement”). Capitalized terms used herein and not otherwise defined shall have the meaning ascribed to
them under the JV Agreement;

 

WHEREAS, at the
Closing, subject to the approvals of relevant authorities, the Company is willing to change its Articles of Association to the
Amended and Restated AOA, a copy of which is attached hereto at Exhibit B (the “Amended and Restated AOA”);

 

WHEREAS, at the
Closing, the Company shall enter into those certain Indemnification Agreements with each of the Directors, a copy of which is annexed
hereto at Exhibit C (the “Indemnification Agreements”);

 

NOW THEREFORE IT IS
HEREBY RESOLVED,

 

JV Agreement

That the JV Agreement and
any and all transactions contemplated therewith (including, without limitation, the License Agreement, the Non-Compete Undertakings
and the Closing Protocol) and including all schedules and exhibits ancillary to the foregoing, all in the forms attached as Exhibit
A hereto (collectively, the “Transaction Documents”), are hereby ratified, approved, authorized and
adopted on behalf of the Company;

 

Amended and Restated
Articles of Association

IT IS FURTHER RESOLVED,
that with effect as of Closing, the Company’s Articles of Association will be amended, and the Amended and Restated AoA,
attached as Exhibit B hereto is hereby ratified, approved, authorized and adopted on behalf of the Company;

 

Execution Copy

 

     

     

    

 

Form of Indemnification
Agreements

IT IS FURTHER RESOLVED,
that with effect as of Closing, all Company Directors will enter into indemnification agreements with the Company, in such
form attached as Exhibit C hereto, all which are hereby ratified, approved, authorized and adopted on behalf of the
Company;

 

Transaction Signatory
Rights

IT IS FURTHER RESOLVED,
to instruct, authorize and empower and direct the Legal Representative of the Company and the Chairman of the Board, Mr. Moshe
Mizrahi, to deliver, execute and sign the Transaction Documents and the Indemnification Agreements on behalf of the Company and
that, upon such execution, such documents shall bind the Company in all respects.

 

Furthermore, the Legal
Representative is hereby authorized and empowered by his sole signature, to do or cause to be done any and all such further
acts and things, and to execute and deliver any and all such additional documents that he may deem necessary or appropriate in
order to carry into effect the purposes and intent of the foregoing resolutions.

 

Furthermore, the Legal
Representative is hereby authorized to perform fully the Company’s obligations under the JV Agreement, the Transaction Documents
and the Indemnification Agreements and any such other documents, agreements, instruments or amendments and to engage or enter into
on behalf of the Company without limitation in such other transactions, agreements, arrangements or activities (collectively, the
 “Activities”) as are reasonably related or incident to, or which will serve to facilitate or enhance for the
benefit of the Company and its subsidiaries, the transactions contemplated by these resolutions, including without limitation any
modification, extension or expansion (collectively, the “Changes”) of any Activities or of any other transactions,
agreements, arrangements or activities resulting from any of the Changes and to enter into such other agreements or understandings
as are necessary, appropriate or desirable to effectuate the intent of, or matters reasonably contemplated by, this resolution
and each of the foregoing resolutions;

 

Omnibus Resolution

IT IS FURTHER RESOLVED,
that all acts and things heretofore done by any of the directors or officers, employees, agents or advisors of the Company
on behalf of the Company and in its name, on or prior to the date of the adoption of the foregoing resolutions, in connection with
the transactions contemplated by such resolutions and under the JV Agreement and the Transaction Documents and/or any and all of
the transactions, instruments and ancillary documents contemplated or otherwise related thereby and hereby, including as set forth
in the foregoing resolutions approved by the Board that would have been in conformity with the above resolutions if such resolutions
had been in effect at the time of such actions, be, and the same hereby are, in all respects ratified, confirmed, approved, authorized
and adopted on behalf of the Company;

 

Execution Copy

 

    	- 2 -

     

    

 

IT IS FURTHER RESOLVED, that this Written Resolution
may be executed in one or more counterparts, each of which shall be deemed an original but all of which together will
constitute one and the same instrument. It is being understood that all Board members need not sign the same counterpart.
This Written Resolution or any counterpart may be executed and delivered by facsimile copies or delivered by electronic
communications by portable document format (pdf.), each of which shall be deemed an original.

 

[Remainder of this page intentionally left
blank,

signature page to follow]

 

Execution Copy

 

    	- 3 -

     

    

  

IT IS FURTHER RESOLVED,
that this Written Resolution may be executed in one or more counterparts, each of which shall be deemed an original but all of
which together will constitute one and the same instrument. It is being understood that all Board members need not sign the same
counterpart. This Written Resolution or any counterpart may be executed and delivered by facsimile copies or delivered by electronic
communications by portable document format (pdf.), each of which shall be deemed an original.

 

IN WITNESS THEREOF, the undersigned
have executed this written consent to be effective as of the date first written above.

 

	/s/ Moshe Mizrahy	 
	Moshe Mizrahy	 

 

	 	

 

Execution Copy

 

    	- 4 -

     

    

  

19.2.1

 

Non-competition Agreement

 

     

     

    

 

Exhibit 18.2.1 (B)

 

Non Competition Undertaking Invasix
Ltd.

 

Reference is hereby made to the joint
venture agreement executed by and between Gunagzhou Sino-Israel Bio-Industry Investment Fund (LLP) (the “Fund”),
Invasix Ltd, (“Invasix”) and the Company, which provides, amongst others, for the sale and marketing of Invasix
products by the Company in the Republic of China, Macau, Taiwan and Hong Kong (the “Territory”) (the “JVA”),

 

Pursuant to Section 39 of the JVA, the
undersigned, hereby agrees and undertakes, effective as of the date of signing of the JVA, and subject to the Closing of the JVA,
that it will not, directly or indirectly, on its own behalf and on behalf of any legal entity, owned by Invasix, or any legal entity
which is controlled by Invasix through the beneficial ownership of shares, do any of the following in the Territory:

 

		i)	Engage in any “competing
                                         business” activity in the Territory, for its own account or for the account of
                                         others, including without limitation as a shareholder, partner, joint venterur, independent
                                         contractor, or other similar capacity, “Competing business”,
                                         shall mean developing, producing (with an intent to sell within the Territory), marketing
                                         or selling products or services of the kind or type developed or currently contemplated
                                         to be developed, produced, marketed or sold or contemplated to be developed, produced,
                                         marketed or sold, by the Company in the field of Medical Aesthetic Products for the Medical/Professional/SPA
                                         markets (excluding the BodyTite products, but except for “where such products become
                                         part of the Invasix License).

 

		ii)	as an individual proprietor, partner, stockholder joint venturer, investor, independent contractor
or in any other capacity whatsoever (other than as the holder of not more than five percent (5%) of the total outstanding
stock of a publicly held company), engage in the business or activity in the Territory of developing, producing, marketing or
selling products or services of the kind or type developed or being developed, produced, marketed or sold by the Company, including
those products or services contemplated in a plan adopted by the board of directors of the Company, except by or for the Company
(excluding the BodyTite products, but except for where such products become part of the Invasix License); or

 

		iii)	interfere with or disrupt, or attempt to interfere with or disrupt, any business relationship,
contractual or otherwise, between the Company and any other party, including clients or prospective clients, suppliers, agents,
employees or executives of the Company in the Territory; or

 

		iv)	recruit, solicit or induce, or attempt to induce, any employee or employees of the Company to terminate
their engagement with, or otherwise cease their relationship with, the Company.

 

The term “Company” herein,
shall include, without limitation, also any legal entity fully owned or controlled by the Company, or any other legal entity which
is controlled by the Company through the beneficial ownership of shares.

 

Execution Copy

 

    	1

     

    

 

The undersigned acknowledges that the Investor
is entering into the JV Agreement in reliance upon the execution, delivery and performance of this Undertaking by Invasix.

 

This Undertaking and any dispute, controversy
or claim arising our of, relating to or in connection with this Undertaking, the negotiation, execution, existence, validity, enforceability
or performance of this Undertaking, or for the breach or alleged breach thereof (whether in contract, in tort or otherwise) shall
be governed by and construed and enforced in accordance with the Laws of the State of Israel, without giving effect to any choice
of law or conflict of law provision or rule (whether of the State of Israel or otherwise) that would cause the application of the
laws of any other jurisdiction, and the competent courts in Tel-Aviv- Jaffa will have the exclusive jurisdiction.

 

Terms not specifically defined herein will
be ascribed with the meaning provided to them under the JV Agreement.

 

And in witness whereof, the undersigned
signs this Non-Compete Undertaking effective as of the date of signing of the JV Agreement, and subject to the Closing of the JV
Agreement.

 

	Invasix
    Ltd.	
	 	 	 
	By:	/s/Moshe Mizrahy	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 
	 	 	 
	Date:	September
    8, 2016	 

 

Execution Copy

 

    	2

     

    

 

To:

Guangzhou InMode Medical Technology Ltd.
(a company in formation) (the “Company”)

 

Ladies and Gentlemen,

 

Subject: Non-Compete Undertakings

 

Reference is hereby made to the joint
venture agreement executed by and between Gunagzhou Sino-Israel Bio-Industry Investment Fund (LLP) (the “Fund”),
Invasix Ltd. (“Invasix”) and the Company, which provides, amongst others, for the sale and marketing of Invasix
products by the Company in the Republic of China, Macau, Taiwan and Hong Kong (the “Territory”) (the “JVA”).

 

Pursuant to Section 39 of the JVA, I, the
undersigned, hereby agree and undertake, effective as of the date of sining of the JV Agreement, and subject to the Closing of
the JVA, that I will not, directly or indirectly, do any of the following in the Territory:

 

		1.	Engage in any “competing business”
                                         activity in the Territory, for my own account or for the account of others, including
                                         without limitation as a shareholder, director, officer, partner, joint venterur, independent
                                         contractor, Consultant or other similar capacity (other than as the holder of not more
                                         than 5% of the total outstanding stock of a publicly held company), “Competing
                                         business”, shall mean developing, producing (with an intent to sell within
                                         the Territory), marketing or selling products or services of the kind or type developed
                                         or currently contemplated to be developed, produced, marketed or sold or contemplated
                                         to be developed, produced, marketed or sold, by the Company in the field of Medical Aesthetic
                                         Products for the Medical/Professional/SPA markets (excluding the BodyTile products, but
                                         except for where such products become part of the Invasix License). These undertakings
                                         explicitly excludes any business Home Skinavtions Ltd. does, directly or indirectly in
                                         the Territory with respect to Medical / Aesthetic Products for home use and the non-professional
                                         markets.

 

		2.	Without derogating from my rights to vote and take action in my sole discretion with respect to
all Company matters as a director, the Chairman of the Board and the Company representative, I will not:

 

		2.1.	interfere with or disrupt, or attempt to interfere with or disrupt, any business relationship,
contractual or otherwise, between the Company and any of its suppliers, clients or prospective clients (including their soliciation).

 

		2.2.	Recruit, solicit or induce, or attempt to induce, any employee or employees of the Company to terminate
their engagement with, or otherwise cease their relationship with the Company.

 

		3.	For all purposes relating to this Undertaking,
                                         at all times where the name or term “Company” is written or referred
                                         to herein, it shall also be deemed to include and refer to all any legal entity fully
                                         owned or controlled by the Company. I acknowledge that the Investor and Invasix are entering
                                         into the JV Agreement in reliance upon the execution, delivery and performance of this
                                         Undertaking by me.

 

Execution Copy

 

     

     

    

 

		4.	The above Undertakings shall continue until the later of: (i) termination or expiration of any
role [ will hold in the Company pursuant to the JV Agreement, and (ii) I am no longer a Sharholder of Invasix or earlier if the
Company is dissoled or ceases to do business. For purposes hereof, “Shareholder of lnvasix” shall
mean being the holder, directly or indirectly, of any equity securities of Invasix, including, without limitation, Ordinary Shares
and all options, warrants, restricted stock and other rights to acquire Ordinary Shares, owned directly or indirectly by me.

 

		5.	This Undertaking and any dispute, controversy or claim arising out of, relating to or in connection
with this Undertaking, the negotiation, execution, existence, validity, enforceability or performance of this Undertaking,
or for the breach or alleged breach thereof (whether in contract, in tort or otherwise) shall be governed by and construed and enforced
in accordance with the Laws of the State of Israel, without giving effect to any choice of law or conflict of law provision or
rule (whether of the State of Israel or otherwise) that would cause the application of the laws of any other jurisdiction, and
the competent courts in Tel-Aviv-Jaffa will have the exclusive jurisdiction.

 

		6.	Terms not specifically defined herein will be ascribed with the meaning provided to them under
the JV Agreement.

 

And in witness whereof, I sign this Non-Compete
Undertaking

 

effective as of the date of signing of the
JV Agreement, and subject to the Closing of the JV Agreement.

 

	/s/ Moshe Mizrahy	 
	Moshe Mizrahy	 

 

	Date:	September 8, 2016	 

 

Execution Copy

 

    	- 2 -

     

    

 

Section 19.2.2

 

Resolution of Invasix approving the Agreement

 

     

     

    

 

INVASIX LTD.

Israeli company number 514073618

(the “Company”)

 

Written Resolution of the Sole Director
of the Company

in lieu of a Meeting of the Board
of Directors

 

The undersigned, being the sole director
of the Company, hereby adopts the following resolutions with the same force and effect as if said resolutions had been duly adopted
at a meeting of the board of directors of the Company, and directs that this instrument be filed with the corporate minutes of
the Company.

 

	WHEREAS,	on September 23,
    2016 the Company entered into that certain Joint Venture Agreement with Guangzhou Sino-Israel Bio-Industry Investment Fund
    (LLP) (“GIBF”) and Guangzhou InMode Medical Technology Ltd. (“JV Company”), including
    all documents and agreements ancillary thereto, and all transactions contemplated thereby, a copy of which is attached hereto
    as part of Exhibit A (the “JV Agreement”). Capitalized terms used herein and not otherwise
    defined shall have the meaning ascribed to them under the JV Agreement; and 
	 	 
	WHEREAS,	as part of performing the JV Agreement, the Company is responsible for granting the new JV Company established by the GIBF and the Company under the JV Agreement, the License according to the license agreement attached to the JV Agreement (the “JV License Agreement”), and to transfer to the JV Company five (5) Inmode platforms, all in accordance with the terms of the JV Agreement and JV License Agreement. 

 

Now, Therefore, It is hereby resolved
as follows: 

 

		1.	Approval of JV Agreement

 

		1.1	It is hereby resolved to authorize and approve the terms of and the execution, delivery
and performance by the Company of the JV Agreement and all ancillary documents and agreements related thereto, including the JV
License Agreement, the Non-Compete Undertaking of the Company and the Closing Protocol, all in the forms attached hereto as Exhibit
A (collectively, the “Transaction Documents”).

 

		1.2	It is further resolved to instruct, authorize and empower and direct the sole Director
of the Company, Mr. Moshe Mizrahi, to deliver, execute and sign the Transaction Documents on behalf of the Company and that, upon
such execution, such documents shall bind the Company in all respects.

 

		1.3	It is further resolved to appoint, in addition to Mr. Moshe Mizrahy, Mr. Rafael Lickerman,
Israeli passport number 12606408, and Mr. Alon Yaari, Israeli passport number 10942275, to serve as additional members of the Board
of Directors of the JV Company, on behalf of the Company.

 

     

     

    

 

		2.	General Authority

 

		2.1	It is hereby resolved that all actions taken by the sole Director or the Authorized
Signatories of the Company on behalf of the Company in furtherance of any of the foregoing resolutions are hereby ratified and
confirmed as the acts and deeds of the Company.

 

		2.2	It is further resolved that the sole Director is hereby authorized and directed to
take all such further action to prepare, execute and deliver, or approve or authorize, as the case may be, the preparation, execution
and delivery of all such further agreements, instrurments and documents, in the name of and on behalf of the Company, and to pay
all expenses, fees and taxes, as in his judgment shall be necessary, proper or advisable in order to fully carry out the intent
and accomplish the purposes of the foregoing resolutions.

 

	Date:	January 11, 2017 	 

 

	/s/ Mr. Moshe Mizrahy	 
	Mr. Moshe Mizrahy, Sole Director 	 

 

    	2 

     

    

 

19.2.3

 

Bring-down Certificate of CEO of Invasix

 

     

     

    

 

CEO Certificate

 

	To:	January 11, 2017 

 

Guangzhou Sino-Israel Bio-Industry

Investment Fund (LLP)

Unit 203, 2/F

No. 6 of Luoxiansan

Road, International Bio-island

Guangzhou

 

Dear Sirs,

 

Re: Invasix Ltd. - CEO Certificate

 

Reference is hereby made to that certain
Joint Venture Agreement dated September 23, 2016, by and between Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP) (“GBTF”),
Invasix Ltd. (“Invasix”) and Guangzhou InMode Medical Technology Ltd. (the “Company”, and
the “JV Agreement”, respectively).

 

Capitalized terms not otherwise defined
herein shall have the meaning ascribed to such terms under the JV Agreement.

 

Pursuant to Section 18.2.3 to the JV Agreement,
I the undersigned, Mr. Moshe Mizrahy, the Chief Executive Officer of Invasix, in my capacity as such, hereby certify and confirm
to you on behalf of Invasix as follows:

 

		(a)	All representations and warranties of Invasix set forth in the JV Agreement are true and correct
in all material respects at the time of the Closing Date;

 

		(b)	All Party B’s Deliverables to be delivered by Invasix to GBEF, have been delivered on the
Closing Date.

 

		(c)	All covenants, agreements and conditions contained in the JV Agreement, to be performed by Invasix
on or prior to the Closing Date, have been performed or complied with in all material respects.

 

		(d)	As of the Closing Date, no material adverse change has occurred with regard to the contemplated
business of Invasix.

 

	 	Sincerely yours, 
	 	 
	 	
	 	 
	 	/s/ Moshe Mizrahy
	 	Moshe Mizrahy, CEO 
	 	 
	 	Invasix Ltd. 

 

     

     

    

 

19.2.4

 

Invasix’s Product Liability Insurance

 

     

     

    

 

	 	
	 	 
	 	
        Howden Insurance Brokers Limited

        1 Whittington Ave

        London EC3V 1LE

        United Kingdom

        Tel: +44 (0) 20 7623 3806

        Fax: +44 (0) 20 7623 3807

        reception@howdengroup.com

        www.howdengroup.com

 

Effected through

 

Howden Insurance Brokers Limited

 

1 Whittington Ave

 

London

 

EC3V 1LE

 

This is to Certify that in accordance
with the authorisation granted under Contract Number B0180CTSBI01600 to the undersigned by certain Underwriters at Lloyd’s,
whose definitive numbers and the proportions underwritten by them, which will be supplied on application, can be ascertained by
reference to the said Contract which bears the Seal of Lloyd’s Policy Signing Office and in consideration of the payment
of the premium specified herein, the said Underwriters are hereby bound, severally and not jointly, their Executors and Administrators,
to insure in accordance with the terms and conditions contained herein or endorsed hereon.

 

Notwithstanding anything to the contrary
contained herein this Certificate does not cover Loss, Damage or Liability directly or indirectly occasioned by, happening through
or in consequence of war, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion,
revolution, insurrection, military or usurped power or confiscation or nationalisation or requisition or destruction of or damage
to property by or under the order of any government or public or local authority.

 

If the Assured shall make any claim knowing
the same to be false or fraudulent, as regards amount or otherwise, this Certificate shall become void and all claim hereunder
shall be forfeited.

 

In Witness whereof this Certificate
has been signed at the place stated and on the date specified in the Schedule by Howden Insurance Brokers Limited.

 

 

	Authorised Official	 

 

Please examine this Document carefully.
If it does not meet your needs, return immediately. In all communications the Number appearing in line one of the schedule should
be quoted.

 

	 	A subsidiary of Howden Broking Group Limited, part of the Hyperion Insurance Group. Howden Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority: Firm reference number 312584. Registered in England and Wales under company registration number 203500. Registered office: 16 Eastcheap, London EC3M 1BD

 

    	 	Page 1 of 40	 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

IMPORTANT NOTICES FOR THE POLICYHOLDER:

 

It is very important that you read the
attached contract fully and with care to ensure you understand all the terms and conditions. We would, however, draw your attention
to the following specific matters:

 

Your obligation regarding disclosure
of information material to the contract: We wish to draw to your attention the obligation to inform (re)insurers of all
material facts prior to the inception of this contract. Any material changes to the risk during the (re)insurance period, at renewal
or if the contract is extended or amended must also be disclosed to the (re)insurers. Failure to do so could, depending on the
law under which this contract is interpreted, result in the contract being made void from its inception or cancelled and liability
in respect of claims being repudiated by the (re)insurers. A material fact is a fact which may influence a (re)insurer’s
judgement in their assessment of a risk, including its terms and pricing. If you have any doubt as to whether information is material
or not, you should disclose it.

 

Warranties: Warranties are
important provisions contained in your insurance contract and must be exactly complied with at all times. Breach of a warranty
may, depending on the law under which the contract is interpreted, entitle (re)insurers to terminate the contract from the date
of that breach, and in some instances may mean that the contract does not come into effect at all. This is the position regardless
of whether there is any connection between the warranty breached and any loss which leads to that breach becoming evident. A warranty
may exist in the contract using other terminology and without reference to the word “warranty”. For example you may
have completed a proposal/application form and deemed to have warranted the accuracy of information provided, such that any inaccuracy
will constitute a breach of warranty.

 

Conditions Precedent to (Re)Insurers’
Liability: There are two types of condition precedent. If a condition precedent to the validity of this contract or the
commencement of the (re)insurance is not complied with, the insurer will not come on risk. If a condition precedent to the insurer’s
liability under this contract is not complied with, the insurer will not be liable for the loss in question. A condition precedent
may exist in the contract using other terminology and without reference to the words “condition precedent”.

 

Subjectivities: Should this
(re)insurance be subject to any specific conditions being complied with or information being provided to (re)insurers by a certain
date, they will be detailed under the heading “Subjectivities”. Please ensure you comply with any requirements appearing
there within the stated timescale as failure to do so may prejudice your coverage. If you cannot comply with the terms, you must
notify us in good time.

 

Notification of any claims.

All claims or circumstances which may potentially
lead to a claim must be notified promptly. The prompt notification of claims is a requirement of all insurance contracts. Please
ensure you are familiar with the claims notification procedure contained in this contract and in particular any time constraints
as failure to comply with this might prejudice your position should a claim occur.

 

    	 	Page 2 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

COMBINED PUBLIC & PRODUCTS LIABILITY
(INCLUDING HUMAN CLINICAL TRIALS EXTENSION)

 

SCHEDULE

 

	Policy No:	1600454
	 	 
	Policyholder:	Invasix Ltd
	 	 
	Address:	Tavor Building, Yokheam Illit, Israel
	 	 
	Insured’s Business Activity:	As per submission and information seen and agreed by Underwriters & www.invasix.com
	 	 
	Insured:	Invasix Ltd and/or Inmode M.D. Ltd and/or Invasix, Inc. and/or Invasix Corporation and/or Invasix UK Ltd and/or Inmode Japan and/or Inmode France and/or Guangzhou Inmode Medical Technology Ltd
	 	 
	Broker name and address:	Howden Israel, Adgar Tower, 35 Efal Street, Petah Tikva, 49511 Israel
	 	 
	Period of Insurance:	From: 28th October 2016) both days
    inclusive Local Standard Time at To: 27th April 2018) the address of the Policyholder
	 	 
	Limit of Liability:	Section 1 Public Liability:
	 	USD   5,000,000 any one Occurrence
	 	USD   5,000,000 For all the compensation payable under this policy
	 	 
	 	Section 2 Products Liability:
	 	USD   5,000,000 any one Loss
	 	USD   5,000,000 For all the compensation payable under this policy
	 	 
	 	The Limits of Indemnity are inclusive of the Deductible, pre-judgment interest and claimants’ costs and expenses, unless stated otherwise. Express Warranties:

 

	Conditions:	-	USA/Canada conditions clause, as attached
	 	-	Interlocking clause, as attached
	 	-	Master policy clause, as attached
	 	-	Medical payments, as attached
	 	-	Professional
    Services for Medical Products Sales and Service Personnel - The policy will cover product training and sales support in
    connection with the sale, loan, lease or delivery of your products is insured. Your medical staff members are insured for
    liability arising from their providing or failing to provide supervisory or instructional services.
	 	-	The definition of Product is amended to include the following: “Medical Professional Services including all bodily injury caused by an occurrence consisting of a negligent act, error or omission in the rendering or failure to render medical professional services whether committed by you or by any person(s) or organization(s) acting under your direction, control or supervision or whose negligent acts, errors or omissions you are legally responsible for in connection with any medical, dental or surgical devices, equipment or appliances, medications, drugs, biologics, blood or blood products which is manufactured, sol or distributed by you. However, medical professional services does not include:
	 	 	a. Liability resulting from a criminal act by any health care provider;

 

    	 	Page 3 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

 

	 	 	b. Any liability your employee may have as a proprietor, hospital administrator, officer, stockholder, or member of the board of directors, trustees, or governors of any:
	 	 	(1) Hospital, nursing home or sanitarium; or
	 	 	(2) Clinic with bed and board facility; or
	 	 	(3) Laboratory or other business
	 	-	Post marketing clinical trials and data analysis is covered
	 	-	Optional extended reporting period, as attached
	 	-	It is understood and agreed that the insurer’s right of cancellation will be strictly limited to the reasons of non-payment of premium, or fraud on behalf of the policyholder, as detailed in the Insurance Contract Law, 5741-1981
	 	-	“Change of Risk” sub sections will be amended as follows: sub section 1: will be deleted
	 	-	Flat clinical trials cover - Blanket coverage
    is provided in respect of clinical trials, except were a local policy is required by law. The Underwriter will request the
    Protocol & Informed Consent for each Clinical trial
	 	-	It is hereby noted and agreed that exclusion 16 of the attached Public liability wording and exclusion 19 of the attached Products liability wording are deleted in their entirety
	 	-	The definition of Product is amended by the addition of the following:
	 	 	‘It is hereby understood and agreed that advice given in connection with the product supplied is covered’
	 	-	Professional Indemnity – sub-limited to USD 1,000,000, as attached
	 	-	Libel and Slander – sub-limited to USD 250,000, as attached
	 	-	Loss of Documents – sub-limited to USD 250,000, as attached
	 	-	As an extension to Extension 1 of the attached Public Liability wording, it is agreed that this policy will cover regulatory investigation up to the amount of USD 250,000
	 	-	HIPPA Proceedings endorsement – sub-limited to USD 500,000 in the aggregate, as attached
	 	-	Cyber Liability Extension Endorsement, as attached
	 	-	Advertising Liability, as attached
	 	-	Primary and Non-Contributory Endorsement, as attached
	 	-	Waiver of Subrogation, as attached

 

Express Warranties

None other than any which may be included in the contract wording.
Please read your contract carefully. Breach of a warranty could result in termination of this contract.

 

Conditions Precedent:

None other than any which may be included in the contract wording.
Please read your contract carefully. Breach of a “condition precedent to liability” may entitle Insurers to reduce
indemnity for or even reject a claim. Breach of a “condition precedent to contract” entitles an insurer to avoid the
contract entirely.

 

	Premium:	USD 127,500 In Full Non-Adjustable
	 	 
	Payment Terms:	90 days in accordance with the Premium Payment Clause
	 	 
	Territorial Limits:	Worldwide including the USA and Canada
	 	 
	Governing Law & Jurisdiction:	Israel as per the attached wording
	 	 
	Deductible:	USD 5,000    Each and every Loss in respect of General Liability

 

    	 	Page 4 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

	 	USD 100,000    Each and every Loss in respect of Product Liability Coverage but USD 1,000,000 in annual aggregate
	 	 
	Retroactive Date

(Section 2 only):	13th January 2009 but 15th October 2010 in respect of USA/Canada
	 	 
	Order hereon:	100% of above limits and premium
	 	 
	Insurers:	100.00% Syndicate NWL 1218 at Lloyd’s as per Contract No. B0180CTSBIO1600
	 	 
		RISK TRANSFER         
    Yes

 

Risk Transfer (definition):

Some Insurers, as an added protection to
our clients, have agreed that monies collected by us from Clients and held to the account of Insurers (or claims monies held for
payment to our Clients) will be considered by those Insurers as their money (‘Risk Transfer’). This does mean however
that in the case of insolvency of the Insurer we may be required to remit premiums to the Administrator or Liquidator and may be
prevented from passing claims monies received to Clients.

 

Where we act as agents of Insurers for the purposes of holding
or receiving claim payments or return premiums we will remit them to such parties as Insurers direct us to pay.

 

Please refer to your Terms of Business
Agreement.

 

Recording, Transmitting and Storing
Information

 

Where the broker maintains risk and claim data/information/documents
the broker may hold data/information/documents electronically.

 

	Dated in London:	3rd November 2016

 

    	 	Page 5 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

SEVERAL LIABILITY:

 

The liability of an insurer under this
contract is several and not joint with other insurers party to this contract. An insurer is liable only for the proportion of liability
it has underwritten. An insurer is not jointly liable for the proportion of liability underwritten by any other insurer. Nor is
an insurer otherwise responsible for any liability of any other insurer that may underwrite this contract. The proportion of liability
under this contract underwritten by an insurer (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten
by all the members of the syndicate taken together) is shown in this contract.

 

In the case of a Lloyd’s syndicate,
each member of the syndicate (rather than the syndicate itself) is an insurer. Each member has underwritten a proportion of the
total shown for the syndicate (that total itself being the total of the proportions underwritten by all the members of the syndicate
taken together). The liability of each member of the syndicate is several and not joint with other members. A member is liable
only for that member’s proportion. A member is not jointly liable for any other member’s proportion. Nor is any member
otherwise responsible for any liability of any other insurer that may underwrite this contract. The business address of each member
is Lloyd’s, One Lime Street, London EC3M 7HA. The identity of each member of a Lloyd’s syndicate and their respective
proportion may be obtained by writing to Market Services, Lloyd’s, at the above address.

 

Although reference is made at various points
in this clause to “this contract” in the singular, where the circumstances so require this should be read as a reference
to contracts in the plural.

 

07/03/08

LMA5096

 

    	 	Page 6 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

CERTIFICATE MEMORANDUM

 

It is hereby understood and agreed that:

 

		(i)	Wherever the term “Policy” appears herein, it is deemed to read “Certificate”.

 

		(ii)	All claims, disputes and enquiries regarding this Certificate shall be addressed to:

 

Howden Insurance Brokers Ltd.

1 Whittington Ave

London

EC3V 1LE

 

		(iii)	All complaints must be made in the first instance to Howden Insurance Brokers but if no satisfaction is received they can be
referred to:

 

Policyholder and Market Assistance

Lloyd’s Market Services

One Lime Street

London

EC3M 7HA

 

Email: complaints@lloyds.com

Telephone: +44 (0)20 7327 5693

Fax:              +44
(0)20 7327 5225

 

		(iv)	Lloyd’s is regulated by the Financial Conduct Authority (FCA)

                                                                    25 The North Colonnade

                                                                    Canary Wharf

                                                                    London E14 5HS

 

		(v)	In respect of any claims referred by the Insured to the Coverholder, the Coverholder acts as agent for the Underwriters and
not the Insured;

 

All other terms and conditions of this Policy remain unchanged

 

    	 	Page 7 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

PREMIUM PAYMENT CLAUSE

 

Notwithstanding any provision to the contrary within this contract
or any endorsement hereto, in respect of non payment of premium only the following clause will apply.

 

The (Re)Insured undertakes that premium will be paid in full
to (Re)Insurers within 60 days of inception of this contract (or, in respect of instalment premiums, when due).

 

If the premium due under this contract has not been so paid
to (Re)Insurers by the 60th day from the inception of this contract (and, in respect of instalment premiums, by the date they are
due) (Re)Insurers shall have the right to cancel this contract by notifying the (Re)Insured via the broker in writing. In the event
of cancellation, premium is due to (Re)Insurers on a pro rata basis for the period that (Re)Insurers are on risk but the full contract
premium shall be payable to (Re)Insurers in the event of a loss or occurrence prior to the date of termination which gives rise
to a valid claim under this contract.

 

It is agreed that (Re)Insurers shall give not less than 15 days
prior notice of cancellation to the (Re)Insured via the broker. If premium due is paid in full to (Re)Insurers before the notice
period expires, notice of cancellation shall automatically be revoked. If not, the contract shall automatically terminate at the
end of the notice period.

 

If any provision of this clause is found by any court or administrative
body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability will not affect the other provisions
of this clause which will remain in full force and effect.

 

30/09/08

LSW3001

 

    	 	Page 8 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

UNITED STATES OF AMERICA/CANADA CONDITIONS
CLAUSE

 

Notwithstanding anything to the contrary contained in this Policy

 

		(A)	This Policy does not include as an Insured nor indemnify/pay on behalf of any company domiciled
and/or registered in any Specified Territory other than any party which has been added as an Insured or Additional Insured to the
Policy with the Insurers’ authorisation or any Vendor of the Insured’s Products.

 

		(B)	As far as concerns legal liability arising from any claim

 

		(i)	which is made in any Specified Territory

 

		(ii)	in respect of which action or litigation is brought in a court of law within any Specified Territory or where action or litigation
is brought in a court of law outside such Territory to enforce a judgement therein

 

		(1)	The Underwriters shall not be liable for punitive or exemplary damages

 

		(2)	The Limits of Indemnity specified in the Schedule are each deemed to be inclusive of all Legal Costs

 

		(3)	This Policy does not cover any liability for:

 

		(a)	Bodily Injury Property Damage or Other Contingencies directly or indirectly caused by seepage pollution
or contamination

 

		(b)	The cost of removing nullifying or cleaning-up seeping polluting or contaminating substances

 

		(c)	Fines or penalties

 

		(d)	Uninsured Motorists coverage Underinsured Motorists coverage or any obligation of the Insured under
 “No-Fault” state law

 

		(4)	A Deductible of USD 100,000 each and every claim shall apply but USD 1,000,000 in the annual aggregate

 

For the purposes of this Memorandum “Specified Territory”
shall mean the United States of America, Canada and any territory within the jurisdiction thereof

 

    	 	Page 9 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

“MASTER POLICY” CLAUSE

(in respect of Human Clinical Trials)

 

This policy is a “Master Policy”
which, together with one or more policies issued by Newline or any other insurer to the Insured and/or the Insured’s subsidiary(ies)
anywhere in the world (such policies being referred to as “ the Local Policy or Policies”), form a multinational programme
of insurance.

 

Accordingly:

 

Difference in Conditions (DIC)

 

The Master Policy is extended to provide
cover where the Insured or the Insured’s subsidiary company(ies) make a claim under a Local Policy but that claim is rejected
as falling outside the terms of the Local Policy, in which event the Master Policy shall pay on behalf of the Insured or the Insured’s
subsidiary company(ies) to the extent that such a claim would have been covered if made under this Master Policy.

 

Difference in Limits (DIL)

 

The Master Policy is extended to provide
cover where the Insured or the Insured’s subsidiary company(ies) make a claim under a Local Policy but that claim is in excess
of the level of cover provided by the Local Policy, in which event the Master Policy shall pay on behalf of the Insured or the
Insured’s subsidiary company(ies) on a follow form basis as per Local Policy terms and conditions.

 

Where any claim arises from an Occurrence
where the Underwriters are by law or circumstance prevented from indemnifying the Insured locally, the Insured will be required
to handle the defence and investigation of any such claim and the Underwriters will reimburse the Insured accordingly in any other
permitted territory where permissible by law.

 

Notwithstanding the law & jurisdiction
clauses contained in the Local Policies, in any dispute under this Master Policy, the law of Israel shall apply and the Israeli
courts will have sole judgment.

 

EXTENDED REPORTING PERIOD (ERP)

 

This Master Policy provides automatic cover
of up to 5 years ERP where the ERP under the Local Policy is less than 5 years, subject to the terms of the ERP under this Master
Policy and subject to a maximum of 5 years ERP in total, or 7 years in respect of Israeli policies.

 

    	 	Page 10 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

MEDICAL PAYMENTS

 

It is hereby noted that the policy is extended
to cover Medical Payments in respect of each Research subject who sustains Bodily injury arising out of their
participation in a Clinical Trial when such injury was incurred during the Period of Insurance.

 

The Research subject must submit
to medical examination, at the Insurer’s expense and by physicians of its choice, as often as is reasonably required.

 

A limit of USD 10,000 applies to each and
every person. These payments will not exceed the applicable Limits of Liability.

 

It is hereby noted and agreed that the
Insurer will make these payments regardless of fault.

 

A deductible of NIL applies to each and
every person.

 

Medical Payments meaning reasonable
expenses for:

 

		·	first aid administered at the time of the Bodily
injury; or

		·	necessary medical, surgical, x-ray and dental services,
including prosthetic devices; or

		·	and necessary ambulance, hospital professional, nursing
and funeral expenses.

 

    	 	Page 11 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

OPTIONAL EXTENDED REPORTING PERIOD

 

Option 1:

Notwithstanding anything contained herein
to the contrary it is agreed that upon the Policy’s expiry, the Insured has the right to purchase an Extended Reporting Period
of 1 years and the Underwriters will indemnify the Insured in respect of any Claim first made in writing against the Insured and
notified to the Underwriters during the Extended Reporting Period

 

Provided that

 

		(i)	such Claim would have been admissible under this Policy
had such Claim been made in accordance with Insuring Agreements of the Cover

 

		(ii)	the incident giving rise to such Claim occurred after
the Retroactive Date and before the end of the Period of Insurance

 

		(iii)	such Claim shall for the purposes of this Policy be
deemed to have been made on the last day of the Period of Insurance

 

		(iv)	the Extended Reporting Period shall not reinstate
or increase the Limits of Indemnity or extend the Period of Insurance

 

		(v)	The right to purchase the above Extended Reporting
Period is conditional upon payment of an additional premium calculated at 0% of the annual premium for the Period of Insurance.

 

Option 2:

Notwithstanding anything contained herein
to the contrary it is agreed that upon the Policy’s expiry, the Insured has the right to purchase an Extended Reporting Period
of 7 years and the Underwriters will indemnify the Insured in respect of any Claim first made in writing against the Insured and
notified to the Underwriters during the Extended Reporting Period

 

Provided that

 

		(i)	such Claim would have been admissible under this Policy
had such Claim been made in accordance with Insuring Agreements of the Cover

 

		(ii)	the incident giving rise to such Claim occurred after
the Retroactive Date and before the end of the Period of Insurance

 

		(iii)	such Claim shall for the purposes of this Policy be
deemed to have been made on the last day of the Period of Insurance

 

		(iv)	the Extended Reporting Period shall not reinstate
or increase the Limits of Indemnity or extend the Period of Insurance

 

		(v)	The right to purchase the above Extended Reporting
Period is conditional upon payment of an additional premium calculated at 180% of the annual premium for the Period of Insurance.

 

    	 	Page 12 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

PROFESSIONAL INDEMNITY

 

It is agreed that notwithstanding anything
contained herein to the contrary the Insurers will indemnify the Insured against all sums which the Insured shall become legally
liable to pay for damages or compensation and claimants’ costs and expenses and legal defence expenses in respect of any
claim arising as a direct result of any negligent act, error or omission in their conduct of the Business

 

Provided that

 

		(i)	such claim is first made in writing against the Insured
during any Period of Insurance and is notified to the Insurers during or within 30 days after the expiry of the same Period of
Insurance

 

		(ii)	should the Insured give notice in accordance with
any Claims Notification provisions contained herein during the Period of Insurance (or within 30 days in the event of cancellation
or non-renewal) of any Occurrence which may subsequently give rise to a claim made against the Insured then such claim shall be
deemed to have been made during the Period of Insurance in which notification was given

 

		(iii)	the Insurers shall not be liable for

 

		(a)	the amount of the Deductible specified in this Memorandum

 

		(b)	any claim brought about or contributed to by any dishonest
fraudulent criminal or malicious act or omission of the Insured or consequent upon any deliberate conscious or intentional disregard
by the Insured of the need to take all reasonable steps to prevent loss

 

		(c)	any claim where the event giving rise to such claim
occurred before the Retroactive Date

 

		(d)	any claim arising from any cause or circumstances
of which the Insured was aware prior to the effective date of this Memorandum

 

		(e)	any claim for which the Insured are entitled to indemnity
under any other insurance or which is insured elsewhere within this policy

 

		(f)	any claim arising out of any neglect error or omission
by the Insured to effect or maintain insurance or to provide finance or advice on financial matters other than arising out of
the products or business of the insured as described in the policy

 

		(g)	any claim arising out of the insolvency of the Insured
or any loss sustained by shareholders or stockholders of the Insured in their capacities as such

 

		(h)	any claim arising out of any neglect error or omission
by the Insured in the preparation of estimates of cost

 

		(i)	any claim in respect of the cost of replacing documents
which have been lost mislaid damaged or destroyed

 

		(j)	any claim in respect of costs in connection with recalling
Products

 

		(k)	any claim arising out of injurious falsehood or infringement
of patent or copyright

 

		(l)	any claim arising out of non-delivery or late delivery
of Products or non-completion of works or operations

 

		(iv)	the liability of the Insurers for all damages compensation
claimants’ costs and expenses and Insured’s own legal expenses shall not exceed in the aggregate for any one Period
of Insurance the amount stated in the schedule.

 

	Deductible:	USD 10,000	each and every Loss, however USD 25,000 each and every Loss in the USA and Canada
	 	 	 
	Retroactive Date:	25th February 2009	 

 

    	 	Page 13 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

LIBEL AND SLANDER

 

Underwriters agree to indemnify the Insured
against all sums which the Insured shall become legally liable to pay as damages and claimant’s costs and expenses as a result
of any Claim made against the Insured during the Period of Insurance for Libel and Slander by reason of words written or spoken
by:

 

		(a)	the Insured or

 

		(b)	any employee of the Insured

 

		(c)	any director of the Insured

  

Cover under this extension is sub-limited
to USD 250,000 any one loss and in the aggregate.

 

    	 	Page 14 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

LOSS OF DOCUMENTS

 

If during the Period of Insurance the Insured
discovers that any Documents entrusted to the Insured, which may now or hereafter be, or be supposed or believed to be, in the
custody of the Insured or in the custody of any other person to or with whom such Documents have been entrusted, lodged or deposited
by the Insured in the ordinary course of business, have been destroyed or damaged or lost or mislaid and after diligent search
cannot be found, the Insurer will indemnify the Insured against any

 

a) legal liability which the Insured may
incur to any other person in consequence of such Documents being destroyed, damaged, lost or mislaid,

 

b) cost and expenses incurred by the Insured
in replacing or restoring such Documents,

 

c) costs and expenses incurred with the
written consent of the Insurer in the defence or settlement of any claim to establish liability as described in a) above.

 

    	 	Page 15 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

HIPAA PROCEEDINGS ENDORSEMENT

 

It is understood and agreed as follows:

 

1. Subject to the HIPAA proceeding deductible
in the amount of USD 10,000, the maximum limit of liability of the Insurer for all damages and claim expenses related to all HIPAA
Proceedings as set forth in paragraphs, shall not exceed USD 500,000, regardless of the number of such proceedings, persons, insureds,
claims, or alleged violations.

 

The HIPAA Proceeding Limit of Liability
is included within, and is not in addition to the each claim and aggregate limits of liability set forth on the Declarations.

 

HIPAA Proceeding means claim that is an
administrative proceeding, complaint, investigation, or hearing instituted by the Department of Health and Human Services or its
designee alleging a violation of responsibilities or duties imposed upon the Insured under the Health Insurance Portability and
Accountability Act (“HIPAA”) or any rules or regulations promulgated thereunder, with respect to the management and
disclosure of confidential health information.

 

HIPAA Proceeding deductible means the amount
of the insured’s retained liability for payment of covered damages or claim expenses for HIPAA proceedings as set forth in
paragraphs 2. above, the HIPAA Proceeding Limit of Liability.

 

Notification Costs means amounts
incurred by the Insured to comply with a statutory mandate requiring notification of an individual in compliance with privacy
protection laws regulating the disclosure of confidential health information.

 

    	 	Page 16 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

CYBER LIABILITY EXTENSION ENDORSEMENT

(“CLAIMS MADE” BASIS)

 

This endorsement attaches to and forms
part of Policy No. 1600454

 

Notwithstanding Section 2 Exclusion 23.
the Underwriters shall, subject to the terms, conditions, limitations and exclusions of this Policy, indemnify the
Insured against:

 

		(1)	legal liability for damages in respect of a Claim
for:

 

		(a)	third party financial loss arising directly from a
hacking attack or virus that has emanated from or passed through the Insured’s computer systems;

 

		(b)	third party financial loss arising directly from the
third party’s inability to access the Insured’s computer systems in the way in which the Insured have
authorised them to as a direct result of the Insured’s computer systems failure or impairment due to a hacking attack
or virus; or

 

		(c)	third party financial loss arising directly from the
loss or theft of the Insured’s data or data for which the Insured is responsible or held to be responsible
arising directly from a hacking attack or virus.

 

		(2)	legal liability for claimants’ costs and expenses
in connection with paragraph (1) above;

 

		(3)	Legal Costs arising from a Claim for
which there is cover under paragraph (1) above,

 

provided that the Claim is first
made against the Insured during the Period of Insurance.

 

Additional Exclusion

 

The Underwriters shall not be liable
to indemnify the Insured in respect of any liability, claim or loss arising out of, caused by, resulting from, in consequence
of, in connection with or in any way involving any act, error, omission, event, circumstance or occurrence happening, or alleged
to have happened, prior to the retroactive date for this endorsement.

 

Limits of liability:

 

		(a)	USD 100,000 any one Claim (inclusive of Legal
Costs); and

 

		(b)	USD 100,000 in the aggregate.

 

		Deductible:	USD 10,000 each and every Loss, however USD 25,000
each and every Loss in the USA and Canada

 

Retroactive date: 28th October 2016

 

The inclusion herein of more than one Insured
shall not operate to increase the limit of the Underwriters’ liability.

 

Except as otherwise stated, all other terms,
conditions, Limits of Liability and exclusions remain unchanged.

 

    	 	Page 17 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

ADVERTISING LIABILITY

 

		(a)	It is agreed that this Policy is extended to indemnify
the Insured for all sums which the Insured shall become legally liable to pay as damages or compensation in respect of Advertising
Liability arising out of an Occurrence during the Period of Insurance in connection with the Business

 

		(b)	“Advertising Liability” shall mean

 

		(i)	libel slander or defamation

 

		(ii)	any infringement of copyright or of title or of slogan

 

		(iii)	piracy or unfair competition or idea misappropriation
under an implied contract

 

		(iv)	any invasion of right of privacy

 

committed or alleged to have been committed
in any advertisement publicity article broadcast or telecast and arising out of the Insured’s advertising activities

 

		(c)	The Underwriters will not indemnify the Insured in
respect of claims made for

 

		(i)	failure of performance of contract except claims for
unauthorised appropriation of ideas based upon alleged breach of an implied contract

 

		(ii)	infringement of registered trade mark service mark
or trade name by use thereof as the registered trade mark service mark or trade name of goods or services sold offered for sale
or advertised except titles or slogans

 

		(iii)	incorrect description of any article or commodity

 

		(iv)	mistake in advertised price

 

		(d)	For the purpose of this Memorandum the term “Property
Damage” where used in this Policy other than in the Definition of “Property Damage” shall be deemed to read
 “Property Damage or Advertising Liability”

 

    	 	Page 18 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

PRIMARY NON-CONTRIBUTORY ENDORSEMENT

 

If coverage is provided to an additional
insured under a written contract which requires that this insurance be primary and non-contributory, we will not invoke the Double
Insurance policy condition. However, this coverage amendment is subject to the following:

 

		1.	“Bodily injury” or “property damage”
arising out of “your work” was performed after the effective date of this Policy;

 

		2.	The additional insured damage to which this amendment
applies must be covered under this Policy;

 

		3.	Subject to the policy limits of this Policy, the most
we will pay on behalf of the additional insured is the amount of insurance required by the contract.

 

		4.	This endorsement applies specifically to primary non-contributory additional insured contracts between you and such person or organization that requires this Policy will apply before
any other valid and collectible insurance.

 

    	 	Page 19 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

WAIVER OF SUBROGATION

 

The Underwriter waives the right of subrogation
against persons in the service of the insured, shareholders of the insured, members of the board of directors of the insured, any
other individual or entity to who prior to the occurrence of the insured event the insured has undertaken in writing that its insurance
covers will contain a waiver of the right of subrogation to their benefit.

 

The Underwriter waives the right of subrogation
against:

 

1. Officers employed in accordance with
management agreements between the insured and companies under the control of the officers as aforementioned. Similarly, the insurer
waives the right of subrogation against the companies which are under the control of the officers as aforementioned.

 

2. Self-employed persons (including former
salaried employees) who are employed by the insured and paid by invoice.

 

The right of the insured to receive indemnity
under this policy will not be detrimentally affected by the fact that the insured, prior to the occurrence of the insured event,
provided a hold harmless agreement to any individual and/or entity or undertook in writing to indemnify them, which were it not
for the same hold harmless agreement or undertaking, the Underwriter would have had the right of subrogation against the same individual
or entity.

 

For the sake of avoidance of doubt, it
is agreed that the insurer does not have the right of subrogation against any individual or entity who is included in the named
insured.

 

However it is agreed that the aforementioned
will not apply to the benefit of any individual who caused the insured event maliciously.

 

The policy is extended to cover officers
who are engaged in accordance with management agreements between the insured and companies controlled by officers as aforementioned
in respect of liability which is liable to be imposed upon them as part of their duties as officers in the business of the insured.

 

    	 	Page 20 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

SECTION 1

 

NEWLINE-HOWDEN PUBLIC LIABILITY INSURANCE
POLICY

 

FORM BIT 2011

 

Whereas the Policyholder, whose name, address
and business is specified in the schedule (hereinafter “the schedule”) applied to:-

 

NEWLINE
UNDERWRITING MANAGEMENT LTD (Hereinafter - “the Insurer”) requesting to effect the insurance specified in
this policy;

 

and whereas the Insurer agreed to effect
the said insurance in consideration of the Policyholder’s undertaking to pay the premium stated in the schedule;

 

the Insurer undertakes to pay on behalf
of the Insured in respect of any amount which the Insured shall have to pay to the third party as compensation under any law applicable
within the Territorial Limits in consequence of Bodily Injury or Property Damage arising out of an Occurrence during the Period
of Insurance in connection with the business provided that the Occurrence happened within the Territorial Limits

 

LIMITS OF LIABILITY: The Insurer’s
liability shall not exceed:

 

a. The amount stated in the schedule as
limit of liability for any one Occurrence

 

b. The amount stated in the schedule as
limit of liability for all the compensation payable under this policy.

 

EXPENSES:

 

The Insurer shall also pay on behalf of
the Insured in respect of the reasonable expenses incurred with his consent for defence against a claim for compensation in respect
of an Occurrence.

 

Where for settlement of the claim a sum
exceeding the above limits of liability is required, the Insurer’s liability for these expenses shall be limited to such
proportion as the limit of liability bears to the total sum paid for settlement of the claim.

 

This policy was issued by the Insurer on
reliance of a proposal form and/or any other document and/or information submitted to the Insurer which forms the basis of and
is deemed to be an integral part of this policy.

 

DEFINITIONS

 

“Policy Holder” – means:
as stated in the schedule

 

“Insurer” – means:

 

The Insurer as stated in the schedule

 

“Insured”
 – means:

 

The named Insured(s) as stated in the schedule
and/or any subsidiary and/or joint venture and/or partnership and/or managers and/or employees and/or directors and/or officers

 

“The Product” -
means:

 

Any tangible product including its component
and/or article included in the Insured’s business activity as specified in the Schedule manufactured sold supplied distributed
altered constructed erected repaired serviced designed tested installed or processed including any advertising, usage instructions,
packaging and container and also without derogating from the said generality any product specifically mentioned in the Schedule.

 

“Period of Insurance” –
means:

 

The Period of Insurance as stated in the
schedule

 

“Occurrence”:

 

Shall mean an accident or event including
continuous or repeated injurious exposure to substantially the same general conditions which results during the Period of Insurance
in Bodily Injury or Property Damage neither expected nor intended from the standpoint of the Insured

 

    	 	Page 21 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

“Deductible” means:

 

The amount to be borne by the insured out
of the sum of indemnity and the expenses paid by the Insurer following a loss covered under this policy in respect of each loss
separately.

 

“Territorial Limits” -
means:

 

Unless otherwise stated in the schedule,
the territory of the State of Israel and the Occupied Territories. To avoid any doubt the territory of Israeli settlements and
Israeli military bases and/or positions within the “Autonomy” will be regarded as Occupied Territories for the purposes
of this policy.

 

“Bodily Injury”:

 

Shall mean personal injury sickness disease
or death and shall include but not by way of limitation mental injury anguish shock false arrest or invasion of the right of privacy

 

“Property Damage”:

 

Shall mean damage to loss of or destruction
of material property

 

EXCLUSIONS

 

This insurance does not cover any liability
in respect of, arising out of, caused by, resulting from, in consequence of, in connection with or in any way involving any of
the following:

 

		1.	Bodily Injury to any person caused in the course of
and in consequence of their employment by the Insured.

 

		2.	Any contract imposing upon the Insured liability which
would not attach except for the existence of such contract.

 

		3.	Any Occurrence arising out of or in connection with
the Products

 

		4.	Damage to property owned by the Insured.

 

		5.	Any nuclear material, ionizing radiation, radioactive
pollution or from nuclear fuel of any sort or from nuclear waste of any sort and/or from the combustion of nuclear fuel of any
sort. For the purpose of this clause, combustion shall include any process of self-sustaining fission.

 

This clause shall not apply to the use
of x-rays or to the use of radioactive materials in research laboratories and hospitals and for the purposes of carrying out non-destructive examinations in industry.

 

Notwithstanding the aforementioned work
with or use of nuclear fuel is excluded.

 

		6.	Damage directly or indirectly occasioned by war, invasion,
act of foreign enemies, hostilities (whether war be declared or not), acts of sabotage and terrorism, civil war, rebellion, revolution,
insurrection, military or usurped power, military regime or plunder, looting, robbery connected therewith, confiscation or destruction
by any government or public authority.

 

For the purpose of
this exclusion - “Terrorism” shall mean - the use of violence for political purposes, including the use of
violence with a purpose to terrify the public or any part thereof by a person or persons acting on behalf of or in connection
with any hostile organization.

 

In respect of “terrorism” as
defined above within the territories of the State of Israel and/or the Occupied Territories, only an explicit certificate of the
Israeli Police or the Ministry of Defence or the Manager of the Property Tax and Compensation Fund as defined by the Law of Property
Tax and Compensation Fund 1961 with all its amendments, certifying that the Loss has been caused directly by an act of terrorism,
shall serve as cause for repudiation of a Claim for terrorism Losses.

 

		7.	Any event of which the Insured was aware or should
have been aware before the inception of this insurance that such event may cause a Claim against them under this policy, and of
which they have not notified the Insurer in writing.

 

    	 	Page 22 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

		8.	Where the Insured is an entity, awareness of the events
as defined above shall be considered to be as soon as possible after the moment when the Policyholder’s managers become
aware thereof

 

		9.	Any fines, penalties, punitive damages, exemplary
damages, aggravated damages, liquidated damages, treble damages or any other damages resulting from the multiplication of compensatory
damages.

 

		10.	Pollution:

 

		(a)	In respect of events in the United States of America &/or Canada: Air pollution, water
                                                                                 pollution or land pollution.

 

		(b)	In respect of events anywhere else: Air pollution,
water pollution or land pollution other than pollution in consequence of an accidental sudden and unforeseen event.

 

		11.	This insurance does not cover liability of any sort
which is liable to apply to the Insured for damage whose origin or cause arises directly and/or indirectly and/or which is connected
in any way to asbestos or materials which contain asbestos in any form or amount provided that the loss arises or is influenced
by the dangerous attributes of asbestos.

 

		12.	Aircraft and/or their parts.

 

		13.	Motor vehicles used in circumstances in respect of
which insurance is necessary to meet the requirements of Road Traffic legislation other than liability consequent upon the use
of plant and loading and unloading of a vehicle where no cover is provided by any motor insurance

 

		14.	Transmissible Spongiform Encephalopathy (TSE), Creutzfeldt-Jakob Disease, variant or new variant Creutzfeldt-Jakob Disease (CJD), (‘Mad Cow Disease’)

 

		15.	Damage caused due to a Product involving genetic engineering.

 

		16.	Electromagnetic fields and/or radiation.

 

		17.	Financial pecuniary damage which is not a direct consequence
of physical damage to third party property which has been damaged.

 

		18.	Breach of patent or copyright.

 

		19.	Property Damage to property owned or leased or rented
to or in the care custody or control of the Insured other than:

 

		(i)	employees’ directors’ partners’
and/or visitors’ property

 

		(ii)	premises not owned by or leased or rented to the Insured
at which the Insured is undertaking work in connection with the business

 

		20.	Losses which would or could be covered under a Directors’
and Officers’ liability insurance policy

 

    	 	Page 23 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

EXTENSIONS

 

		1.	DEFENCE IN CRIMINAL PROCEEDINGS.

 

The policy is extended to indemnify the
Insured in respect of Criminal Proceedings’ costs as follows:

 

The Insurer at his own expense will provide
the Insured and/or any of the Insured’s employees a lawyer to handle the defence of Criminal Proceedings, brought against
any of them following a covered insured event occurring during the Period of Insurance. The Insurer will also at his own expense
provide the Insured and/or any of his employees a lawyer to handle any appeal proceedings and to represent them until the highest
appellate level in respect of any decision and/or judgment imposed on them in the Criminal Proceedings and will also bear the expenses
of the appeal.

 

A condition precedent to providing
a lawyer for the appeal as mentioned above will be a statement of opinion from the lawyer advising that there are good prospects
of a successful appeal. If the Insured does not want the lawyer provided by the Insurer he may choose a lawyer of his own, in which
case, the Insurer will pay on behalf of the Insured for the fees and defense cost paid by him, all these subject to the Insurer’s
limit of liability. The Insurer will pay the fees and the defence costs and/or appeal costs at the end of the criminal proceedings
or the appeal as the case may be.

 

Definitions for this extension

 

“Criminal
Proceedings” - means:

 

Proceedings where there is a lodging of
an indictment by the state of Israel or on its behalf, including death investigation filed against the Insured or any of his employees
following an insured event covered under this policy.

 

“Defence Costs” (including
an appeal) - means:

 

Fees, duties, documents, stamps, fees,
protocols, copying fees, witnesses and experts’ fees as decided by the court or according to the “criminal procedure”,
but excluding any fine, compensation or penalties given under court decision.

 

“Fees” -
means:

 

Lawyers’ fees for criminal proceedings’
handling as stipulated under the regulation of the Bar Association (the minimum tariff) or the minimum tariff of lawyers’
fees as regulated by the law.

 

Exclusions to this extension:

 

The Insurer shall not be obliged to provide
a lawyer for defence or bear any payments if:

 

		1.	the indictment and/or death investigation are in respect
of an occurrence which is specifically excluded in the policy.

 

		2.	the indictment and/or the death investigation are
in respect of an occurrence which the Insured or any of his employees took part (whether by action or omission) with intention
to cause the insured event.

 

		3.	the indictment and or death investigation are in respect
of contractors and/or subcontractors of the Insured.

 

		4.	The Insured’s maximum limit of liability for
this extension shall not exceed USD 100,000 for one occurrence and for all occurrences during the Period of Insurance.

 

It is a condition precedent to the
Insurer’s obligation for indemnification as above, that no other insurance was in force covering the Insured’s liability
in respect of the same Claims.

 

		2.	OVERSEAS LIABILITY

 

This policy is extended to pay on behalf
of the Insured in respect of liability arising out of business visits anywhere in the world by directors or employees of the Insured
who are not ordinarily resident in the territory visited

 

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	 	 	  Authorised Signatory 

    	 	
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		3.	SPORTS AND SOCIAL EXTENSION

 

This policy is extended to cover the Insured’s
employees, their families and other invitees whilst participating in social events, including sporting activities organized by
the Insured, participation in exhibitions or trade shows.

 

		4.	OTHER CONTINGENCIES EXTENSION

 

This policy is extended to cover nuisance
trespass or interference with any easement right of air light water or way.

 

		5.	INDEMNITY TO PRINCIPALS EXTENSION

 

This policy is extended as far as is necessary
to meet the requirements regarding the indemnification of Principals of any contract or agreement entered into by the Insured with
any Principal The Principal will be treated as though they were an Insured in respect of any liability (as provided for herein)
they may incur but only in respect of liability (as provided for herein) which arises out of the performance of the contract by
the Insured provided the Principal shall observe fulfill and be subject to the terms of this Policy

 

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	 	 	  Authorised Signatory 

    	 	
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SPECIAL CONDITIONS

 

		1.	INSURED’S DUTY TO TAKE CARE

 

The Insured shall fulfill any legislative
duty intended to defend the public against safety deficiencies arising out of faults in products which the Insured manufactures
and shall take all reasonable precautions to ensure that the products manufactured by him are proper and safe.

 

POLICY CONDITIONS

 

		1.	DOUBLE INSURANCE

 

Where liability against one risk has been
insured with more than one insurer for coinciding periods the Policyholder shall notify same to the Insurer as soon as possible
after the double insurance was effected or after he became aware thereof.

 

		2.	POLICYHOLDER’S DUTIES

 

The Policyholder shall notify the Insurer
as soon as possible of any Occurrence which may cause a claim against them covered under this policy or of the receipt of any request
or claim in respect of such event.

 

		3.	NOTICE OF PROCEEDINGS

 

The Policyholder shall notify the Insurer
as soon as possible of a Police investigation, or investigation of a cause of death, or of any other investigation instituted or
to be instituted, or of charge filed against him, if they are aware thereof in connection with any Occurrence in respect of which
a claim may arise under this policy.

 

		4.	DELIVERY OF DOCUMENTS FROM THE INSURED TO THE INSURER

 

The Policyholder shall deliver to the Insurer,
immediately on receipt, any letter, summons, writ, order and notification of any process with an indemnity claim arising out of
a Product for which the Insured is liable

 

		5.	PROHIBITION OF ADMISSION

 

No admission, offer, promise, obligation
or indemnity shall be made or given by the Insured or on his behalf, without the written consent in advance of the Insurer.

 

The provisions of this clause do not apply
to reporting of the facts of the event to the Police or to any competent authority by any law as requested and to giving evidence
in a criminal trial.

 

For sake of good order the Insured’s
handling of customer service and/or complaints in the normal scope of business including replacement of Products and/or providing
solution to client’s satisfaction shall not be considered as prohibition of admission.

 

		6.	LITIGATION CONSENT

 

The choice of law firm which will represent
the Insured in all procedures of a claim will be jointly chosen by the Insurer and the Insured (or in the absence of an agreement
between them, an independent advocate nominated by the head of the Israel bar Association, at the request of any one party). In
the event that there is a conflict of interests between one Insured and another Insured, a different law firm will be appointed
for that Insured.

 

The Insured shall not be requested to contest
any claim against him, unless that chosen law firm shall conclude, within 30 days from date of such request in writing that based
on the facts of the event, contesting the claim has a fair probability of success

 

		7.	PAYMENT OF AN AMOUNT OF THE LIMIT OF LIABILITY

 

Prior to or in the course of the conduct
of proceedings or compromise negotiations in connection with any claim or series of claims, the Insurer is entitled to pay the
amount of the relevant limit or limits of liability, after deducting any amount or amounts already paid as compensation, in which
case the Insurer shall relinquish the conduct and control of such claim or claims and will be free from any further liability thereof.

 

		8.	HANDLING OF CLAIMS

 

Where the Insurer has admitted its liability
under the policy, it shall be entitled, at its discretion, to take over and conduct in the name of the Insured, the defense or
settlement of any claim and to prosecute and receive in the name of the Insured any indemnity, compensation, contribution, damages.
The Insurer shall have absolute discretion concerning the conduct of all proceedings or with regard to the settlement of any claim
and the Insured shall give all such information and assistance as the Insurer may require regarding the matters mentioned herein.
It is also agreed that the Insurer shall to the best of its ability cooperate with the Insured in order not to prejudice the Insured’s
reputation or cause him any damage.

 

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	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

		9.	RIGHT OF SUBROGATION

 

Where a payment was made in consequence
of a claim under this policy, the Insured’s right of indemnity against any person or other body, shall pass to the Insurer,
but the Insurer undertakes not to exercise such right against any person in the employment of the Insured or acting on his behalf,
unless such claim did not result from a bona fide act.

 

The Insurer will also waive the right of
recovery that the Insurers would otherwise have had against any other person or organization, for loss to which this insurance
applies, provided the Insured has waived their rights of recovery against such person or organization in a contract or agreement
that is executed before such loss.

 

To the extent that the Insured’s
rights to recover all or part of any payment made under this insurance have not been waived, those rights are transferred to the
Insurer.

 

		10.	CHANGE OF RISK

 

This policy was issued by the Insurer on
reliance on a proposal form and/or any other document and/or information submitted to the Insurer which, together, form the basis
of, and are deemed to be an integral part of, this policy.

 

Any unintentional error or omission of
the Insured, in respect of any information submitted by the Insured, shall not void or impair the insurance coverage under this
policy, provided the Insured reports such error or omission as soon as reasonably possible after discovery and pays an additional
premium (if required) thereon as the Insurer may reasonably require.

 

The Policy Holder shall notify the Insurer,
as soon as possible, of any material change of the risk/s. A material change for the purpose of this clause means:

 

1. Any changes to the answers given to
the questions put to the Insured in the insurance proposal which the Insured submitted.

 

2. Production or marketing of new kinds
of Products.

 

3. Export abroad which did not exist at
the time of effecting the insurance.

 

4. Export to or work in the U.S.A and/or
Canada.

 

		11.	CROSS LIABILITY

 

Where the name of the Insured includes
more than one person or legal entity, the cover under this policy shall apply to each of the Insured individuals, separately as
if this policy, subject to its terms, conditions and exclusions, was issued in his name only, being independent and separate from
the existence of the other Insureds, however the liability of the Insurer to pay on behalf of each of the Insureds shall not exceed
the limit of liability specified in the schedule. Any breach of a term or condition of this policy by any Insured, other than the
Policy holder, shall not affect the protection given by this policy to any other Insured

 

		12.	CANCELLATION OF THE POLICY AND/OR WORSENING OF
TERMS AND CONDITIONS

 

		A.	Without derogating from the Insurer’s rights
by law or under any other directive in the policy, the Insurer may cancel the insurance at any time before the expiry of the Period
of Insurance, at his discretion, provided that written notice to this effect shall be sent to the Policyholder by registered mail
at least 60 days before the date of cancellation and in such case the Policyholder shall be entitled to a return of the premium
paid to the Insurer for the period subsequent to the cancellation of the insurance. The same written notice must be given in the
event of any worsening of the terms and conditions of the insurance.

 

    	 	Page 27 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

		B.	The Policyholder may cancel the insurance at any time
before expiry of the insurance, at his discretion, provided that a notice to this effect is sent to the Insurer by registered
mail at least 21 days before the cancellation of the insurance.

 

Notwithstanding the aforementioned if
the Policyholder requested the Insurer sign insurance certifications in which there is an undertaking to cancel the insurance only
after advance notice to the receiver of the undertaking, the policy shall only be cancelled at the end of the period stated in
the

 

In the event of cancellation at the Policyholder’s
request the Insurer shall retain for himself the Insurer’s customary short-period premium for the time in which the insurance
was effective (i.e. 10% of the annual premium for each month or part thereof and a further 10% overall).

 

		13.	ADJUSTMENT OF PREMIUM

 

This clause shall apply only where it is
mentioned in the schedule that the premium of this policy is subject to adjustment.

 

The final premium due under this policy
shall be adjusted by applying the rate of premium stated in the schedule to the turnover of the Insured’s income which will
be exchanged into US Dollars at the end of the Period of Insurance at the representative rate of exchange of the US Dollar in the
Bank of Israel. The Policyholder shall pay to the Insurer and the Insurer shall return to the Policyholder, as the case may be,
the difference between the provisional premium and the final premium due subject to the minimum premium, if any, stated in the
schedule.

 

		14.	APPLICATION OF EXCHANGE RATES

 

A.          On
the occurrence of an insured event under this policy, the insurance benefits due to the Insured shall be calculated in US Dollars
at the representative rate of exchange of the dollar in the Bank of Israel prevailing at the date of the actual payment to the
Insured or to the third party.

 

The Deductible shall also be calculated
at the representative rate of exchange in the bank of Israel at the above date.

 

B.          Where
the limits of liability are denominated in ILS they shall be changed according to the proportion that the consumers price index
published immediately before the inception of the insurance bears to the consumers price index published immediately before the
date of the claim payment.

 

The Deductible in ILS shall also be changed
according to the proportion that the index published immediately before the inception of the insurance bears to the index published
immediately before the deduction of the Deductible.

 

		15.	THE RIGHT TO SET-OFF

 

The Insurer is entitled to set-off against
the insurance benefits due to the Insured on the occurrence of the insured event, any amount due from the Insured to the Insurer
under this policy.,

 

		16.	EXTENSION OF THE PERIOD OF INSURANCE

 

Any extension of the insurance under this
policy requires the agreement of the Insurer in writing. It is hereby declared that the Period of Insurance shall not be extended
automatically and that the Period of Insurance is not extendible by silence or by any other act of the Insurer, other than by written
agreement as aforesaid even if the Policyholder has proposed to the Insurer in any manner, or at any time to extend it.

 

		17.	JURISDICTION CLAUSE

 

This policy is subject to Israeli jurisdiction
and the Israeli courts will have the sole judgment in any dispute arising out of this policy.

 

		18.	ADDRESS FOR NOTICES

 

Notices to the Policyholder:

 

Notice by the Insurer to the Policyholder
in connection with this policy shall be sent to his last address known to the Insurer.

 

Notice to the Insurer:

 

    	 	Page 28 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

Notice by the Policyholder to the Insurer
shall be sent to the broker named in the schedule for this purpose to be forwarded to Insurer. .

 

		19.	APPLICATION OF LAW

 

This policy is interpreted under
Israeli law and the provisions of the Insurance Contract Law - 1981, shall apply to this policy, as the case may require,
unless otherwise provided in the Insured’s favour by the policy.

 

		20.	SERVICE OF SUIT CLAUSE

 

In any action to enforce the obligations
of the Insurers liable hereunder they can be designated or named as “Lloyds Underwriters” and such designation shall
be binding on the Insurers liable hereunder as if they had each been individually named as defendant. Service of such proceedings
may be validly be made upon the Attorney In Fact in Israel for Lloyds Underwriters, whose address for such service is Gross Orad
Schlimoff & Co, Gibor Sport Bldg. 7 Menachem Begin Rd. Ramat Gan 52521, Israel

 

    	 	Page 29 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

SECTION 2

 

2011 NEWLINE-HOWDEN BIT PRODUCTS LIABILITY
INSURANCE

 

INCLUDING HUMAN CLINICAL TRIALS EXTENSION

 

Whereas the Policyholder, whose name, address
and business is specified in the schedule (hereinafter “the schedule”) applied to:-

 

NEWLINE UNDERWRITING
MANAGEMENT LTD (Hereinafter - “the Insurers”) requesting to effect the insurance specified in this policy;

 

and whereas the Insurer agreed to effect
the said insurance in consideration of the Policyholder’s undertaking to pay the premium stated in the schedule;

 

the Insurer undertakes to pay on behalf
of the Insured in respect of any amount which the Insured shall have to pay to the third party as compensation under any law applicable
within the Territorial Limits in consequence of a Claim made during the Period of Insurance or any applicable extended reporting
period in respect of a Loss arising out of a Product for which the Insured is liable, provided that the Product is not in the Insured’s
direct possession on their premises at the time of happening of the said Loss and provided that the Loss occurred within the Territorial
Limits and after the date mentioned in the schedule as the Retroactive Date.

 

BASIS OF COVER:

 

Dear Policyholder: Your attention
is drawn to the fact that the basis of this policy is “Claims made”. This means that the policy covers solely Claims
first served against you during the Period of Insurance detailed in the schedule to the policy.

 

LIMITS OF LIABILITY: The Insurer’s
liability shall not exceed:

 

a. The amount stated in the schedule as
the limit of liability for one Loss

 

b. The amount stated in the schedule as
the limit of liability for all the compensation payable under this policy.

 

EXPENSES:

 

The Insurer shall also pay on behalf of
the Insured reasonable expenses incurred with their consent for defence against a Claim for compensation in respect of a Loss.
Unless otherwise stated herein such expenses shall be payable in addition to the Limits of Liability

 

Where for settlement of the Claim a sum
exceeding the above Limits of liability is required, the Insurer’s liability for these expenses shall be limited to such
proportion as the limit of liability bears to the total sum paid for settlement of the Claim.

 

This policy was issued by the Insurer on
reliance of a proposal form and/or any other document and/or information submitted to the Insurer which forms the basis of and
is deemed to be an integral part of this policy.

 

DEFINITIONS

 

“Policyholder” – means:
as stated in the schedule

 

“Insurer” – means:

 

The Insurer as stated in the schedule

 

“Insured” – means:

 

The named Insured(s) as stated in the schedule
and/or any subsidiary and/or joint venture and/or partnership and/or managers and/or employees and/or directors and/or officers

 

“The product” -
means:

 

Any tangible product including its component
and/or article included in the Insured’s business activity as specified in the Schedule manufactured sold supplied distributed
altered constructed erected repaired serviced designed tested installed or processed including any advertising, usage instructions,
packaging and container and also without derogating from the said generality any product specifically mentioned in the Schedule.

 

    	 	Page 30 of 40	 
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	Forming part of Certificate No. 1600454	 

    

 

“Period of Insurance” –
means:

 

The Period of Insurance as stated in the
schedule

 

“Loss” - means:

 

		1.	Death, bodily injury, disease, physical or mental
injury of any kind.

 

		2.	Physical Loss or damage to tangible property belonging
to third party including consequential Loss thereof.

 

This definition includes Loss arising out
of Products used for demonstration, trial purposes, being rented, leased, loaned, held for sale as well as all activities related
directly or indirectly in connection with pre/post sale of Products and for clinical testing as per Clinical Trials extension and
post marketing clinical trials conducted by the Insured.

 

If the defect in Products and/or parts
thereof which have caused bodily injury or property damage to several claimants arises from one series or cause, all such bodily
injury or property damage shall be considered as one Loss for the purpose of this policy.

 

“A Claim” - means:

 

Receipt by the Insured during the Period
of Insurance and after the Retroactive Date stated in the schedule of a Claim and/or demand and/or other notice in writing by any
third party in respect of a Loss related to the Insured

 

“Deductible” means:

 

The amount to be borne by the Insured out
of the Limit of Liability and the Expenses paid by the Insurer following a Loss covered under this policy in respect of each Loss
separately.

 

“Retroactive Date” means: the
date specified as such in the Schedule

 

“Territorial Limits” -
means:

 

Unless otherwise stated in the schedule,
the territory of the State of Israel and the Occupied Territories. To avoid any doubt the territory of Israeli settlements and
Israeli military bases and/or positions within the “Autonomy” will be regarded as Occupied Territories for the purposes
of this policy.

 

EXCLUSIONS

 

This insurance does not cover any liability
in respect of, arising out of, caused by, resulting from, in consequence of, in connection with or in any way involving any of
the following:

 

		1.	Any Loss to any person caused in the course of and
in consequence of his employment by the Insured.

 

		2.	Any contract imposing upon the Insured liability which
would not attach except for the existence of such contract.

 

		3.	Any Product contrary to any law, regulation or safety
rules on behalf of the Insured’s management other than bona fide errors.

 

		4.	Any Product that ceased to be in the Insured’s
possession known to be defective.

 

		5a.	Unsuitability of Products to perform their operational
purpose. This clause shall not exclude liability arising from Loss in consequence of defects in these Products.

 

		5b.	The replacement or repair of defective Products and/or
their cost. 5c.The cost of sorting and/or recall of Products.

 

To remove doubt it is hereby clarified
that damage to the Product itself shall not be considered as a Loss.

 

		6.	Damage to property owned by the Insured.

 

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		7.	The Insured’s liability as distributor or importer
due to incorrect usage instructions or different usage instructions from those of the original manufacturer added by the Insured
with a criminal or malicious intent.

 

		8.	Any nuclear material, ionizing radiation, radioactive
pollution or from nuclear fuel of any sort or from nuclear waste of any sort and/or from the combustion of nuclear fuel of any
sort. For the purpose of this clause, combustion shall include any process of self-sustaining fission.

 

This clause shall not apply to the use
of x-rays or to the use of radioactive materials in research laboratories and hospitals and for the purposes of carrying out non-destructive examinations in industry.

 

Notwithstanding the aforementioned work
with or use of nuclear fuel is excluded.

 

		9.	Damage directly or indirectly occasioned by war, invasion,
act of foreign enemies, hostilities (whether war be declared or not), acts of sabotage and terrorism, civil war, rebellion, revolution,
insurrection, military or usurped power, military regime or plunder, looting, robbery connected therewith, confiscation or destruction
by any government or public authority.

 

For the purpose of
this exclusion - “Terrorism” shall mean - the use of violence for political purposes, including the use of
violence with a purpose to terrify the public or any part thereof by a person or persons acting on behalf of or in connection
with any hostile organization.

 

In respect of “terrorism” as
defined above within the territories of the State of Israel and/or the Occupied Territories, only an explicit certificate of the
Israeli Police or the Ministry of Defence or the Manager of the Property Tax and Compensation Fund as defined by the Law of Property
Tax and Compensation Fund 1961 with all its amendments, certifying that the Loss has been caused directly by an act of terrorism,
shall serve as cause for repudiation of a Claim for terrorism Losses.

 

		10.	Any event of which the Insured was aware or should
have been aware before the inception of this insurance that such event may cause a Claim against them under this policy, and of
which they have not notified the Insurer in writing.

 

Where the Insured is an entity, awareness
of the events as defined above shall be considered to be as soon as possible after the moment when the Policyholder’s managers
become aware thereof

 

		11.	Any fines, penalties, punitive damages, exemplary
damages, aggravated damages, liquidated damages, treble damages or any other damages resulting from the multiplication of compensatory
damages.

 

		12.	Pollution:

 

		(a)	In respect of events in the United States of America
 &/or Canada: Air pollution, water pollution or land pollution.

 

		(b)	In respect of events anywhere else: Air pollution,
water pollution or land pollution other than pollution in consequence of an accidental sudden and unforeseen event.

 

		13.	This insurance does not cover liability of any sort
which is liable to apply to theInsured for damage whose origin
or cause arises directly and/or indirectly and/or which is connected in any way to asbestos or materials which contain asbestos
in any form or amount provided that the Loss arises or is influenced by the dangerous attributes of asbestos.

 

		14.	Aircraft and/or their parts.

 

		15.	Motor vehicles used in circumstances in respect of
which insurance is necessary to meet the requirements of Road Traffic legislation other than liability consequent upon the use
of plant and loading and unloading of a vehicle where no cover is provided by any motor insurance

 

		16.	Transmissible Spongiform Encephalopathy (TSE), Creutzfeldt-Jakob Disease, variant or new variant Creutzfeldt-Jacob Disease (CJD), (‘Mad Cow Disease’)

 

    	 	Page 32 of 40	 
	 	 	  Authorised Signatory 

    	 	
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		17.	Damage caused due to a Product involving genetic engineering.

 

		18.	Damage caused directly and/or indirectly by the use
of a Product manufactured and/or taken from the human body.

 

		19.	Electromagnetic fields and/or radiation.

 

		20.	Financial pecuniary damage which is not a direct consequence
of physical damage to third party property which has been damaged.

 

		21.	Breach of patent or copyright.

 

		22.	Any event before the Retroactive Date

 

		23.	Any business conducted and / or transacted via the
internet, intranet, extranet and / or via the Insured’s own website, internet site, web address and / or via the transmission
of electronic mail or documents by electronic means.

 

This exclusion shall not apply where the
liability of the Insured would have existed in the absence of the business being conducted and / or transacted via the internet,
intranet, extranet and / or via the Insured’s own website, internet site, web address and / or via the transmission of electronic
mail or documents by electronic means. The onus of proof in this regard rests with the Insured and not with the Underwriters.

 

EXTENSIONS

 

		1.	VENDORS EXTENSION

 

It is hereby agreed and declared that the
insurance under this policy shall be extended to pay on behalf of any person or entity in respect of liability arising from the
marketing, distribution or sale of the Insured’s Products

 

Provided always that

 

		1	this insurance shall not pay on behalf of any Vendor
in respect of

 

		(i)	any express warranty unauthorised by the Insured

 

		(ii)	liability arising out of

 

		(a)	any physical or chemical change in the form of the
Products made intentionally by the Vendor

 

		(b)	repacking unless unpacked solely for the purpose of
inspection demonstration testing or the substitution of parts under instruction from the manufacturer and then replaced in the
original container

 

		(c)	demonstration installation servicing or repair operations
except such operations performed at the Vendor’s premise in connection with the sale of the Products or

 

		(d)	Products which after distribution or sale by the Insured
have been labelled or relabelled or used as a container part or ingredient of any other thing or substance by or for the Vendor

 

		(e)	the fault or negligence of the Vendor

 

		2	such Vendor shall observe, fulfil and be subject to
the terms, exceptions, limits and conditions of this policy so far as they can apply.

 

		2.	DISCOVERY PERIOD

 

If in accordance with Insurers’ directives
the policy is cancelled or not renewed, other than if the cancellation or non-renewal arose from non-payment of the premium, it
is hereby agreed that the Insurer undertakes to pay on behalf of the Insured in respect of Claims submitted against him, for the
first time, during the period of six months after the termination of the insurance with the Insurer and that in respect of Products
sold or marketed until the above cancellation or non-renewal. A pre-condition to the liability of the Insurer to pay on behalf
of as aforementioned is that no other insurance is arranged which could cover the liability of the Insured in respect of the same
Claims.

 

    	 	Page 33 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

		3.	DEFENCE IN CRIMINAL PROCEEDINGS.

 

The policy is extended to indemnify the
Insured in respect of Criminal Proceedings’ costs as follows:

 

The Insurer at his own expense will provide
the Insured and/or any of the Insured’s employees a lawyer to handle the defence of Criminal Proceedings, brought against
any of them following a covered insured event occurring during the Period of Insurance. The Insurer will also at his own expense
provide the Insured and/or any of his employees a lawyer to handle any appeal proceedings and to represent them until the highest
appellate level in respect of any decision and/or judgment imposed on them in the Criminal Proceedings and will also bear the expenses
of the appeal.

 

A condition precedent to providing
a lawyer for the appeal as mentioned above will be a statement of opinion from the lawyer advising that there are good prospects
of a successful appeal. If the Insured does not want the lawyer provided by the Insurer he may choose a lawyer of his own, in which
case, the Insurer will pay on behalf of the Insured for the fees and defense cost paid by him, all these subject to the Insurer’s
limit of liability. The Insurer will pay the fees and the defence costs and/or appeal costs at the end of the criminal proceedings
or the appeal as the case may be.

 

Definitions for this extension

 

“Criminal
Proceedings” - means:

 

Proceedings where there is a lodging of
an indictment by the state of Israel or on its behalf, including death investigation filed against the Insured or any of his employees
following an insured event covered under this policy.

 

“Defence Costs” (including
an appeal) - means:

 

Fees, duties, documents, stamps, fees,
protocols, copying fees, witnesses and experts’ fees as decided by the court or according to the “criminal procedure”,
but excluding any fine, compensation or penalties given under court decision.

 

“Fees” -
means:

 

Lawyers’ fees for criminal proceedings’
handling as stipulated under the regulation of the Bar Association (the minimum tariff) or the minimum tariff of lawyers’
fees as regulated by the law.

 

Exclusions to this extension:

 

The Insurer shall not be obliged to provide
a lawyer for defence or bear any payments if:

 

		1.	the indictment and/or death investigation are in respect
of an occurrence which is specifically excluded in the policy.

 

		2.	the indictment and/or the death investigation are
in respect of an occurrence which the Insured or any of his employees took part (whether by action or omission) with intention
to cause the insured event.

 

		3.	the indictment and or death investigation are in respect
of contractors and/or subcontractors of the Insured.

 

		4.	The Insured’s maximum limit of liability for
this extension shall not exceed USD 100,000 for one occurrence and for all occurrences during the Period of Insurance.

 

It is a condition precedent to the
Insurer’s obligation for indemnification as above, that no other insurance was in force covering the Insured’s liability
in respect of the same Claims.

 

SPECIAL CONDITIONS

 

		1.	CESSATION OF PRODUCTION AND RECALL OF DEFECTIVE
PRODUCTS

 

If the Insured realized or is aware that
a Product has caused or is liable to cause a Loss in consequence of a defect in its composition or process of its Manufacture,
the Insured shall immediately stop its production, sale and supply.

 

    	 	Page 34 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

The Insured shall take reasonable measures
to take back any such defective Product which ceased to be under his control and to warn the consumers against its use. The Insured
shall bear all expenses and Losses involved in the return of the said Products. The fulfilment and compliance of this clause shall
be a condition precedent to the Insurers’ liability under this policy.

 

		2.	INSURED’S DUTY TO TAKE CARE

 

The Insured shall fulfil any legislative
duty intended to defend the public against safety deficiencies arising out of faults in Products which the Insured Manufactures
and shall take all reasonable precautions to ensure that the Products Manufactured by him are proper and safe.

 

POLICY CONDITIONS

 

		1.	DOUBLE INSURANCE

 

Where liability against one risk has been
insured with more than one insurer for coinciding periods the Policyholder shall notify same to the Insurer as soon as possible
after the double insurance was effected or after he became aware thereof.

 

		2.	POLICYHOLDER’S DUTIES

 

The Policyholder shall notify the Insurer
as soon as possible of any notice that they have received regarding the occurrence of an event which may cause a Claim against
them covered under this policy or of the receipt of any request or Claim in respect of such event.

 

The Policyholder shall notify the Insurer
as soon as possible in writing of any defect in a Product or circumstances which may cause a Loss.

 

		3.	NOTICE OF PROCEEDINGS

 

The Policyholder shall notify the Insurer
as soon as possible of a Police investigation, or investigation of a cause of death, or of any other investigation instituted or
to be instituted, or of charge filed against him, if they are aware thereof in connection with any Loss in respect of which a Claim
may arise under this policy.

 

		4.	DELIVERY OF DOCUMENTS FROM THE INSURED TO THE INSURER

 

The Policyholder shall deliver to the Insurer,
immediately on receipt, any letter, summons, writ, order and notification of any process with a Claim arising out of a Product
for which the Insured is liable

 

		5.	PROHIBITION OF ADMISSION

 

No admission, offer, promise, obligation
or indemnity shall be made or given by the Insured or on his behalf, without the written consent in advance of the Insurer.

 

The provisions of this clause do not apply
to reporting of the facts of the event to the Police or to any competent authority by any law as requested and to giving evidence
in a criminal trial.

 

For sake of good order the Insured’s
handling of customer service and/or complaints in the normal scope of business including replacement of products and/or providing
solution to client’s satisfaction shall not be considered as prohibition of admission.

 

		6.	LITIGATION CONSENT

 

The choice of law firm which will represent
the Insured in all procedures of a Claim will be jointly chosen by the Insurer and the Insured (or in the absence of an agreement
between them, an independent advocate nominated by the head of the Israel bar Association, at the request of any one party). In
the event that there is a conflict of interests between one Insured and another Insured, a different law firm will be appointed
for that Insured.

 

The Insured shall not be requested to contest
any Claim against him, unless that chosen law firm shall conclude, within 30 days from date of such request in writing that based
on the facts of the event, contesting the Claim has a fair probability of success

 

		7.	PAYMENT OF AN AMOUNT OF THE LIMIT OF LIABILITY

 

Prior to or in the course of the conduct
of proceedings or compromise negotiations in connection with any Claim or series of Claims, the Insurer is entitled to pay the
amount of the relevant limit or limits of liability, after deducting any amount or amounts already paid as compensation, in which
case the Insurer shall relinquish the conduct and control of such Claim or Claims and will be free from any further liability thereof.

 

    	 	Page 35 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

		8.	HANDLING OF CLAIMS

 

Where the Insurer has admitted its liability
under the policy, it shall be entitled, at its discretion, to take over and conduct in the name of the Insured, the defense or
settlement of any Claim and to prosecute and receive in the name of the Insured any indemnity, compensation, contribution, damages.
The Insurer shall have absolute discretion concerning the conduct of all proceedings or with regard to the settlement of any Claim
and the Insured shall give all such information and assistance as the Insurer may require regarding the matters mentioned herein.
It is also agreed that the Insurer shall to the best of its ability cooperate with the Insured in order not to prejudice the Insured’s
reputation or cause him any damage.

 

		9.	RIGHT OF SUBROGATION

 

Where a payment was made in consequence
of a Claim under this policy, the Insured’s right of indemnity against any person or other body, shall pass to the Insurer,
but the Insurer undertakes not to exercise such right against any person in the employment of the Insured or acting on his behalf,
unless such Claim did not result from a bona fide act.

 

The Insurer will also waive the right of
recovery that the Insurers would otherwise have had against any other person or organization, for Loss to which this insurance
applies, provided the Insured has waived their rights of recovery against such person or organization in a contract or agreement
that is executed before such Loss

 

To the extent that the Insured’s
rights to recover all or part of any payment made under this insurance have not been waived, those rights are transferred to the
Insurer.

 

		10.	CHANGE OF RISK

 

This policy was issued by the Insurer on
reliance on a proposal form and/or any other document and/or information submitted to the Insurer which, together, form the basis
of, and are deemed to be an integral part of, this policy.

 

Any unintentional error or omission of
the Insured, in respect of any information submitted by the Insured, shall not void or impair the insurance coverage under this
policy, provided the Insured reports such error or omission as soon as reasonably possible after discovery and pays an additional
premium (if required) thereon as the Insurer may reasonably require.

 

The Policy Holder shall notify the Insurer,
as soon as possible, of any material change of the risk/s. A material change for the purpose of this clause means:

 

1. Any changes to the answers given to
the questions put to the Insured in the insurance proposal which the Insured submitted.

 

2. Production or marketing of new kinds
of Products.

 

3. Export abroad which did not exist at
the time of effecting the insurance.

 

4. Export to or work in the U.S.A and/or
Canada.

 

		11.	CROSS LIABILITY

 

Where the name of the Insured includes
more than one person or legal entity, the cover under this policy shall apply to each of the Insured individuals, separately as
if this policy, subject to its terms, conditions and exclusions, was issued in his name only, being independent and separate from
the existence of the other Insureds, however the liability of the Insurer to pay on behalf of each of the Insureds shall not exceed
the limit of liability specified in the schedule. Any breach of a term or condition of this Policy by any Insured, other than the
Policyholder, shall not affect the protection given by this policy to any other Insured

 

		12.	CANCELLATION OF THE POLICY AND/OR WORSENING OF
TERMS AND CONDITIONS

 

		A.	Without derogating from the Insurer’s rights
by law or under any other directive in the policy, the Insurer may cancel the insurance at any time before the expiry of the Period
of Insurance, at his discretion, provided that written notice to this effect shall be sent to the Policyholder by registered mail
at least 60 days before the date of cancellation and in such case the Policyholder shall be entitled to a return of the premium
paid to the Insurer for the period subsequent to the cancellation of the insurance. The same written notice must be given in the
event of any worsening of the terms and conditions of the insurance.

 

    	 	Page 36 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

		B.	The Policyholder may cancel the insurance at any time
before expiry of the insurance, at his discretion, provided that a notice to this effect is sent to the Insurer by registered
mail at least 21 days before the cancellation of the insurance.

  

Notwithstanding the aforementioned if the Policyholder requested the Insurer sign insurance certifications in which there is an undertaking to cancel the insurance only after advance notice to the receiver of the undertaking, the policy shall only be cancelled at the end of the period stated in the schedule.

 

In the event of cancellation at the Policyholder’s
request the Insurer shall retain for himself the Insurer’s customary short-period premium for the time in which the insurance
was effective (i.e. 10% of the annual premium for each month or part thereof and a further 10% overall).

 

		13.	ADJUSTMENT OF PREMIUM

 

This clause shall apply only where it is
mentioned in the schedule that the premium of this policy is subject to adjustment.

 

The final premium due under this policy
shall be adjusted by applying the rate of premium stated in the schedule to the turnover of the Insured’s income which will
be exchanged into US Dollars at the end of the Period of Insurance at the representative rate of exchange of the US Dollar in the
Bank of Israel. The Policyholder shall pay to the Insurer and the Insurer shall return to the Policyholder, as the case may be,
the difference between the provisional premium and the final premium due subject to the minimum premium, if any, stated in the
schedule.

 

		14.	APPLICATION OF EXCHANGE RATES

 

		A.	On the happening of a Loss under this policy, the
insurance benefits due to the Insured shall be calculated in US Dollars at the representative rate of exchange of the dollar in
the Bank of Israel prevailing at the date of the actual payment to the Insured or to the third party.

 

The Deductible shall also be calculated
at the representative rate of exchange in the bank of Israel at the above date.

 

		B.	Where the limits of liability are denominated in ILS
they shall be changed according to the proportion that the consumers price index published immediately before the inception of
the insurance bears to the consumers price index published immediately before the date of the Claim payment.

 

The Deductible in ILS shall also be changed
according to the proportion that the index published immediately before the inception of the insurance bears to the index published
immediately before the deduction of the Deductible.

 

		15.	THE RIGHT TO SET-OFF

 

The Insurer is entitled to set-off against
the insurance benefits due to the Insured on the occurrence of the insured event, any amount due from the Insured to the Insurer
under this policy.,

 

		16.	EXTENSION OF THE PERIOD OF INSURANCE

 

Any extension of the insurance under this
policy requires the agreement of the Insurer in writing. It is hereby declared that the Period of Insurance shall not be extended
automatically and that the Period of Insurance is not extendible by silence or by any other act of the Insurer, other than by written
agreement as aforesaid even if the Policyholder has proposed to the Insurer in any manner, or at any time to extend it.

 

		17.	JURISDICTION CLAUSE

 

This policy is subject to Israeli jurisdiction
and the Israeli courts will have the sole judgment in any dispute arising out of this policy.

 

    	 	Page 37 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

		18.	ADDRESS FOR NOTICES

 

Notices to the Policyholder:

 

Notice by the Insurer to the Policyholder
in connection with this policy shall be sent to his last address known to the Insurer.

 

Notice to the Insurer:

 

Notice by the Policyholder to the Insurer
shall be sent to the broker named in the schedule for this purpose to be forwarded to Insurer.

 

		19.	APPLICATION OF LAW

 

This policy is interpreted under
Israeli law and the provisions of the Insurance Contract Law - 1981, shall apply to this policy, as the case may require,
unless otherwise provided in the Insured’s favour by the policy.

 

		20.	SERVICE OF SUIT CLAUSE

 

In any action to enforce the obligations
of the Insurers liable hereunder they can be designated or named as “Lloyds Underwriters” and such designation shall
be binding on the Insurers liable hereunder as if they had each been individually named as defendant. Service of such proceedings
may be validly be made upon the Attorney In Fact in Israel for Lloyds Underwriters, whose address for such service is Gross Orad
Schlimoff & Co, Gibor Sport Bldg. 7 Menachem Begin Rd. Ramat Gan 52521, Israel

 

    	 	Page 38 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

HUMAN CLINICAL TRIALS ENDORSEMENT EXTENSION

 

The Insurers will pay on behalf of the
Insured all sums in excess of the Deductible that the Insured shall become legally liable to pay as damages or compensation and
claimants’ costs and expenses in respect of any Claim made by Research Subjects after the Retroactive Date and within the
Territorial Limits arising out of a Product or medical procedure or Clinical Trial as herein defined. Where no local policy is
required by law, this policy will extend to cover all Clinical Trials carried out by the Insured at no additional premium, subject
always to prior notification to Insurers.

 

Definitions shall include the following:

 

The “Insured” shall include

 

(a) any Medical Persons whilst acting within
the scope of their duties as laid out in the protocol but excluding liability arising out of the deviation from the protocol and
any consequent Medical Malpractice

 

(b) any sub-contractor consultant hospital
or contract research organization who will be performing work for the Insured in respect of a Clinical Trial

 

(c) any ethics committee or its members
that has approved a Clinical Trial which is the subject of this policy but only in respect of Claims arising out of a Clinical
Trial covered by this policy

 

(d) any medical research fund “Medical

 

Persons” – means:

 

Licensed Physicians Doctors Medical Nurses
and Dentists

 

“Research Subjects” – means:

 

Any person participating in a Clinical
Trial or those involved in pre-screening and their dependants estate or heirs

 

“Clinical Trial” – means:

 

Any testing of material within or upon
human beings to establish the effectiveness or safety of such material or the undertaking of a medical procedure

 

“Medical Malpractice” – means:

 

Any negligent act, error or omission committed
by the Insured

 

“Protocol” – means:

 

A predefined written procedural method
in the design and implementation of experiments

 

Additional Exclusions:

 

23. any Claim made arising from Hepatitis
or any condition directly or indirectly caused by or associated with Human T-Cell Lymphotropic Virus Type iii (HTLV iii) or Lymphadenopathy
Associated Virus (LAV) or the mutants derivatives or variations thereof or in any way related to Acquired Immune Deficiency Syndrome
or any syndrome or condition of a similar kind howsoever it may be named

 

24. any Claim made arising from existing
illnesses(es) or the worsening of same other than the exacerbation of such existing illness(es) as a result of participation in
a clinical trial that is the subject of this insurance.

 

25. any consequence of the Research Subject
knowingly not carrying out the instructions of the Insured

 

26. the Clinical Trial not achieving the
requested result

 

27. Medical Malpractice as stated in (a)
above

 

    	 	Page 39 of 40	 
	 	 	  Authorised Signatory 

    	 	
	Forming part of Certificate No. 1600454	 

    

 

Limit of Liability

 

This extension of cover does not increase
the per Claim or aggregate limit of liability as stated herein, which shall be the maximum payable by Insurers, regardless of the
number of Insureds, claimants or Claims made during the Period of Insurance.

 

Extension of the Reporting Period (Applicable
to Clinical trials in USA only)

 

Subject to the condition that there is
no other valid or collectable insurance, agreement, indemnity or entitlement that could have applied to a Claim made, the exclusion
from coverage for a Claim made after the Period of Insurance shall not apply provided the Claim would have been covered under this
policy had the Claim been made during the Period of Insurance and the Claim has been reported in writing to the Insurer up to 2
years from the date of cancellation or non-renewal

 

Extension of the Reporting Period (Applicable
to Clinical trials in Israel only)

 

Subject to the condition that there is
no other valid or collectable insurance, agreement, indemnity or entitlement that could have applied to a Claim made, the exclusion
from coverage for a Claim made after the Period of Insurance shall not apply provided the Claim would have been covered under this
policy had the Claim been made during the Period of Insurance and the Claim has been reported in writing to the Insurer up to 7
years from the date of cancellation or non-renewal or in the case of minors 7 years from the age of majority.

 

This endorsement, policy and schedule shall
be read together as one document and any word or expression to which a specific meaning has been attached in any part of this endorsement,
policy or schedule shall bear such specific meaning wherever it may appear

 

This policy’s terms and conditions
may be changed only by endorsement issued by us to form part of this policy

 

This endorsement is subject to all policy
terms and condition unless specifically altered above.

 

    	 	Page 40 of 40	 
	 	 	  Authorised Signatory 

    

    

 

19.2.5

 

Consent of Invasix for Disposition of
Company

 

Shares by Investor

 

     

     

    

 

To

Guangzhou Sino-Israel Bio-Industry

Investment Fund (LLP)

Unit 203, 2/F

No.6 of Luoxuansan

Road, International Bio-Island

Guangzhou

 

Dear Sirs,

 

Reference is hereby made to that certain
Joint Venture Agreement dated September 23, 2016, by and between Guangzhou Sino-Israel Bio-industry Investment Fund (LLP) (“GBIF”),
Invasix Ltd. (“Invasix”) and Guangzhou InMode Medical Technology Ltd. (the “Company”, and the “JV
Agreement”, respectively),

 

Capitalized terms not otherwise defined
herein shall have the meaning ascribed to such terms under the JV Agreement.

 

Pursuant to Section 25 of the JV Agreement,
we, the undersigned, hereby grant our irrevocable and unconditional consent to the Disposition of Equity Rights by GBIF in the
Company, subject to the fulfillment by GBIF of all undertaking in connection with a Disposition, as set forth in Chapter XI of
the JV Agreement.

 

We further undertake to execute any and
all documents, forms, letters and agreements and take any and all actions reasonable required to facilitate such Disposition by
GBIF.

 

	Sincerely Yours,	 
	 	 
		 
	Invasix Ltd,	 

 

     

     

    

 

19.2.6

 

Proxy signed by Company Directors Appointed

on behalf of Invasix

 

     

     

    

 

To:

 

Guangzhou Sino-Israel Bio-Industry

Investment Fund (LLP)

Unit 203, 2/F

No.6 of Luoxuansan

Road, International Bio-island

Guangzhou

 

Irrevocable Power of Attorney and Proxy

 

Reference is hereby made to that certain
Joint Venture Agreement dated September 23, 2016, by and between Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP) (“GBIF”),
Invasix Ltd. (“Invasix”) and Guangzhou InMode Medical Technology Ltd. (the “Company”, and the “JV
Agreement”, respectively).

 

Capitalized terms not otherwise defined
herein shall have the meaning ascribed to such terms under the JV Agreement.

 

I, the undersigned, serving as a director
on behalf of Invasix in the Board of Directors of the Company (“Board”), hereby grant an irrevocable power of attorney
and a proxy to each of the directors appointed by GBIF to the Board of the Company (“GBIF Directors”), such
that in my abscense at any Second Adjorned Meeting of the Board of the Company, any one of GIBF Directors may participate and vote
instead of me, in accordance with Section 24.3.5 of the JV Agreement

 

This Irrevocable Power of Attorney and
Proxy shall become effective at the Closing Date and shall continue to be effective until the termination of the JV Agreement.

 

Except as set forth herein, this undertaking
may not be revoked, terminated or otherwise canceled.

 

Name of director: Aloo Yaari

 

	Signature of director:	/s/ Aloo Yaari	 

 

Date: January 11, 2017

 

     

     

    

 

To:

 

Guangzhou Sino-Israel Bio-Industry

Investment Fund (LLP)

Unit 203, 2/F

No.6 of Luoxuansan

Road, International Bio-island 

Guangzhou

 

Irrevocable Power of Attorney and Proxy

 

Reference is hereby made to that certain
Joint Venture Agreement dated September 23, 2016, by and between Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP) (“GBIF”),
Invasix Ltd. (“Invasix”) and Guangzhou InMode Medical Technology Ltd. (the “Company”, and the “JV
Agreement”, respectively).

 

Capitalized terms not otherwise
defined herein shall have the meaning ascribed to such terms under the JV Agreement.

 

I, the undersigned, serving as a director
on behalf of Invasix in the Board of Directors of the Company (“Board”), hereby grant an irrevocable power of attorney
and a proxy to each of the directors appointed by GBIF to the Board of the Company (“GBIF Directors”), such
that in my abscense at any Second Adjorned Meeting of the Board of the Company, any one of GIBF Directors may participate and vote
instead of me, in accordance with Section 24.3.5 of the JV Agreement.

 

This Irrevocable Power of Attorney
and Proxy shall become effective at the Closing Date and shall continue to be effective until the termination of the JV
Agreement.

 

Except as set forth herein, this undertaking
may not be revoked, terminated or otherwise canceled.

 

Name of director: Rafael Lickerman

 

	Signature of director:	/s/ Rafael Lickerman	 

 

Date: January 11, 2017

 

     

     

    

 

To:

 

Guangzhou Sino-Israel Bio-Industry

Investment Fund (LLP)

Unit 203, 2/F

No.6 of Luoxuansan

Road, International Bio-island

Guangzhou

 

Irrevocable Power of Attorney and Proxy

 

Reference is hereby made to that certain
Joint Venture Agreement dated September 23, 2016, by and between Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP) (“GBIF”),
Invasix Ltd. (“Invasix”) and Guangzhou InMode Medical Technology Ltd. (the “Company”, and the “JV
Agreement”, respectively).

 

Capitalized terms not otherwise
defined herein shall have the meaning ascribed to such terms under the JV Agreement.

 

I, the undersigned, serving as a director
on behalf of Invasix in the Board of Directors of the Company (“Board”), hereby grant an irrevocable power of attorney
and a proxy to each of the directors appointed by GBIF to the Board of the Company (“GBIF Directors”), such
that in my abscense at any Second Adjorned Meeting of the Board of the Company, any one of GIBF Directors may participate and vote
instead of me, in accordance with Section 24.3.5 of the JV Agreement.

 

This Irrevocable Power of
Attorney and Proxy shall become effective at the Closing Date and shall continue to be effective until the termination of the
JV Agreement.

 

Except as set forth herein, this undertaking
may not be revoked, terminated or otherwise canceled.

 

Name of director: Moshe Mizrahy

 

	Signature of director:	 /s/ Moshe Mizrahy	 

 

Date: January 11, 2017

 

     

     

    

 

Section 19.3.2 

 

Resolution of Investor approving the
Agreement

 

     

     

    

 

RESOLUTION OF A MEETING OF THE INVESTMENT
COMMITTEE OF

 

THE GUANGZHOU SINO-ISRAEL BIO-INDUSTRY
VENTURE CAPITAL INVESTMENT FUND (LLP)

 

Voting Result of InMode-China Investment Project InMode

 

Dr. Shuki Gleitman proposed to vote regarding the InMode-China
deal.

Dr. Shuki Gleitman voted YES.

Prof. Abraham Karasik voted YES.

Prof. Shlomo Noy voted YES.

Mr. Avner Lushi voted YES.

Ms. Jing Zhao voted YES.

Mr. Qiu Zhe voted YES.

Dr. Yingqing Li (on behalf of Mr. Shun-xian Yang) abstained
from voting.

All 7 members voted. 6 voting were YES. 1 voting was abstention.

Shuki Gleitman InMode

Shuki Gleitman

Abraham Karasik

Shlomo Noy

Avner Lushi

 

RESOLVED by majority, to approve investment in InMode-China.

 

InMode.

 

     

     

    

 

Further Resolved, the structure deal of InMode-China
will be equity investment. A total aggregate amount of up to 50,000,000RMB in equity investment, divided as follows:

 

		·	25% (12,500,000 RMB) as the initial investment 25% (12,500,000)

 

		·	35%
                                         upon initiating of production and manufacturing line.

 

		·	The remaining 40% upon completion of sales and positioning of the
first 10 InMode platforms by external paying customers.

 

Above the resolution for investment committee meeting of GUANGZHOU
SINO-ISRAEL BIO-INDUSTRY VENTURE CAPITAL INVESTMENT FUND (LLP).

 

	/s/ Shuki Gleitman
	Dr. Shuki Gleitman, Chairman of the meeting
	Shuki Gleitman

 

    	2

     

    

 

19.3.3

 

Consent of Investor for the Disposition
of 

Company Shares by Invasix

 

     

     

    

 

To:

Invasix Ltd.

Tavor Building, Sha’arYokneam

P.O. Box 533, Yokneam 20692

Israel

 

Dear Sirs,

 

Reference is hereby made to that certain
Joint Venture Agreement dated September 23, 2016, by and between Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP)
(“GBIF”), Invasix Ltd. (“Invasix”) and Guangzhou In Mode Medical Technology Ltd. (the “Company”,
and the “JV Agreement”, respectively).

 

Capitalized terms not otherwise defined
herein shall have the meaning ascribed to such terms under the JV Agreement.

 

Pursuant to Section 25 of the JV
Agreement, we, the undersigned, hereby grant our irrevocable and unconditional consent to the Disposition of Equity Rights by Invasix
in the Company, subject to the fulfillment by Invasix of all undertakings in connection with a Disposition, as set forth in Chapter
XI of the JV Agreement.

 

We further undertake to execute any and
all documents, forms, letters and agreements and take any and all actions reasonable required to facilitate such Disposition by
Invasix.

 

Sincerely Yours,

 

		 
	Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP)

 

By its General Partner

Guangzhou Elim Biotech Industrial Venture
Capital

Management Company

 

		

 

Execution Copy

 

     

     

    

 

19.3.4

 

Proxy signed by Company Directors Appointed

on behalf of Investor

 

     

     

    

 

To:

 

____________

 

Irrevocable Power of Attorney and Proxy

 

Reference is hereby made to that certain
Joint Venture Agreement dated September 23, 2016, by and between Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP) (“GBIF”),
Invasix Ltd. (“Invasix”) and Guangzhou InMode Medical Technology Ltd. (the “Company”, and
the “JV Agreement”, respectively).

 

Capitalized terms not otherwise defined
herein shall have the meaning ascribed to such terms under the JV Agreement.

 

I, the undersigned, serving as a director
on behalf of GBIF in the Board of Directors of the Company (“Board”), hereby grant an irrevocable power of attorney
and a proxy to : (i) each of the directors appointed by GBIF to the Board of the Company (“GBIF Directors”)
that is present at a given Second Adjourned Meeting; or (ii) if none of the GBIF Directors is present at a given Second Adjourned
Meeting, to each of the directors appointed by Invasix to the Board of the Company (“Invasix Directors”), such
that in my abscense at any Second Adjourned Meeting of the Board of the Company, any one of the GBIF Directors or Invasix Directors,
as the case may be pursuant to the above, may participate and vote instead of me, in accordance with Section 24.3.5 of the JV
Agreement.

 

This Irrevocable Power of Attorney
and Proxy shall become effective at the Closing Date and shall continue to be effective until the termination of the
JV Agreement.

 

Except as set forth herein, this undertaking
may not be revoked, terminated or otherwise canceled.

 

Name of director: 

 

	Signature of director:		 

 

Date: January 11, 2017

 

Execution Copy

 

     

     

    

 

To:

 

____________

 

Irrevocable Power of Attorney and Proxy

 

Reference is hereby made to that certain
Joint Venture Agreement dated September 23, 2016, by and between Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP) (“GBIF”),
Invasix Ltd. (“Invasix”) and Guangzhou InMode Medical Technology Ltd. (the “Company”, and
the “JV Agreement”, respectively).

 

Capitalized terms not otherwise defined
herein shall have the meaning ascribed to such terms under the JV Agreement.

 

I, the undersigned, serving as a
director on behalf of GBIF in the Board of Directors of the Company (“Board”), hereby grant an irrevocable
power of attorney and a proxy to : (i) each of the directors appointed by GBIF to the Board of the Company (“GBIF
Directors”) that is present at a given Second Adjourned Meeting; or (ii) if none of the GBIF Directors is present
at a given Second Adjourned Meeting, to each of the directors appointed by Invasix to the Board of the Company
(“Invasix Directors”), such that in my abscense at any Second Adjourned Meeting of the  Board of the
Company, any one of the GBIF Directors or Invasix Directors, as the case may be pursuant to the above, may participate and
vote instead of me, in accordance with Section 24.3.5 of the JV Agreement.

 

This Irrevocable Power of Attorney and
Proxy shall become effective at the Closing Date and shall continue to be effective until the termination of the JV Agreement.

 

Except as set forth herein, this undertaking
may not be revoked, terminated or otherwise canceled.

 

Name of director:

 

	Signature of director: 		 

 

Date: January 11, 2017

 

Execution Copy

 

     

     

    

 

To:

 

____________

 

Irrevocable Power of Attorney and Proxy

 

Reference is hereby made to that certain
Joint Venture Agreement dated September [__], 2016, by and between Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP) (“GBIF”),
Invasix Ltd. (“Invasix”) and Guangzhou InMode Medical Technology Ltd. (the “Company”, and
the “JV Agreement”, respectively).

 

Capitalized terms not otherwise defined
herein shall have the meaning ascribed to such terms under the JV Agreement.

 

I, the undersigned, serving as a
director on behalf of GBIF in the Board of Directors of the Company (“Board”), hereby grant an irrevocable
power of attorney and a proxy to : (i) each of the directors appointed by GBIF to the Board of the Company (“GBIF
Directors”) that is present at a given Second Adjourned Meeting; or (ii) if none of the GBIF Directors is present
at a given Second Adjourned Meeting, to each of the directors appointed by Invasix to the Board of the Company
(“Invasix Directors”), such that in my abscense at any Second Adjourned Meeting of the  Board of the
Company, any one of the GBIF Directors or Invasix Directors, as the case may be pursuant to the above, may participate and
vote instead of me, in accordance with Section 24.3.5 of the JV Agreement.

 

This Irrevocable Power of Attorney and
Proxy shall become effective at the Closing Date and shall continue to be effective until the termination of the JV Agreement.

 

Except as set forth herein, this undertaking
may not be revoked, terminated or otherwise canceled.

 

Name of director:

 

	Signature of director: 		 

 

Date: January 11, 2017

 

Execution Copy

 

     

     

    

 

23

 

Invasix Disclosure Schedule

 

     

     

    

 

DISCLOSURE SCHEDULE

 

In connection with that certain Joint
Venture Agreement (the “JVA”) by and between Invasix Ltd. (“lnvasix”), Guangzhou Sino-Israel
Bio-Industry Investment Fund (LLP) (the “Investor”) and Guangzhou InMode Medical Technology Ltd. (a company
in formation) (the “Company”), Invasix hereby delivers this Disclosure Schedule (“DS”),
which items constitute exceptions to the representations and warranties of Invasix under the JVA.

 

Matters reflected in this DS are not necessarily
limited to matters required by the JVA to be reflected in this DS. The inclusion of such additional matters is set forth for informational
purposes and does not impose a duty or requirement on Invasix to include other matters of a similar nature.

 

To the extent that any representation or
warranty in the JVA is qualified or limited by the materiality of the matter(s) to which such representation or warranty is given,
the inclusion of any matter(s) in this DS shall not constitute a determination by Invasix that such matter(s) are material.

 

Nothing in this DS shall constitute an
admission of liability or obligation of Invasix to any third party nor an admission against their interest.

 

Capitalized terms used but not otherwise
defined herein shall have the same meaning ascribed to them in the JVA. The captions used herein are for convenience purposes only,
and will not be used in the construction of this DS.

 

Execution Copy

 

     

     

    

 

Schedule 22.1.1−  No Violation

 

Invasix is a party to the following exclusive distribution agreements
in the Territory:

 

		1.	Distribution Agreement in China:
                                         Invasix has granted a Chinese distributor named “Chongquing Gallup Peninsula
                                         Biotech Co., Ltd,” (“Peninsula”), an exclusive distribution rights
                                         in the territory of the Peoples Republic of China, with respect to Invasix’s “BodyTite”
                                         platform and the “Fractora/TiteFX” platform and its disposables (the BodyTite
                                         RFAL hand pieces of varying sizes and Fractora treatment tips of varying pin configurations).
                                         The distribution agreement is dated June 28, 2014. The distributor has waived rights
                                         to distribute the Inmode platforms in an email correspondence between Invasix and Peninsula.
                                         The relevant documentation was provided to the Fund. At the Funds request, Invasix shall
                                         use reasonable best efforts to receive from Peninsula a signed waiver.

 

The Tornado product by Peninsula,
is a BodyTite complementary product and not part of the Inmode Product family. Invasix provides to Peninsula only the metal casing
of a product (similar to the BodyTite shape). Peninsula uses this casing for its own product sold solely in China. The Invasix
brand name is not used with respect to this product. Peninsula is the manufacturer of this product, not Invasix. There is no written
indemnification beyond the obligations set out in the distribution agreement and the rights according to applicable laws.

 

		2.	Distribution Agreement in Taiwan:
                                         Invasix has granted a distributor in Taiwan named “YI CHENG BIOTECH CO., LTD.”,
                                         an exclusive distribution rights in the territory of Taiwan, with respect to Invasix’s
                                         “BodyTite” and “InMode” platforms (the “Taiwan DA”).
                                         The Taiwan DA is dated August, 2016. The performance of the Taiwan DA will be made through
                                         the Company, by way of assignment to the Company of the Taiwan DA or by actual performance
                                         through the Company, as shall be mutually agreed.

 

		3.	Distribution Agreement in Hong Kong:
                                         Invasix has granted a distributor in Hong Kong, an exclusive distribution rights
                                         in the territory of Hong Kong (the “Hong Kong DA”), Currently, the
                                         Hong Kong DA is non-active and Invasix and the Company will mutually agree on future
                                         steps with respect thereto (whether to terminate the Hong Kong DA or assign it to the
                                         Company). Invasix did not locate a signed copy of the Agreement.

 

Execution Copy

 

    	-2-

     

    

 

Schedule 22.1.2 −
Litigation

 

Syneron Claim

 

On January 28, 2016, Syneron Medical Ltd.
(“Syneron”) filed a patent infringement complaint against Invasix, Inc. and InMode M.D. Ltd. (collectively,
the “Defendants”) with respect to Invasix’s Fractora 20 and 60 pins products, to the United States District
Court Central District California (the “Complaint”).

 

In the framework of the Complaint, Syneron
has alleged that the Defendants are infringing five US patents owned by Syneron in the US. There is not litigation concerning the
Territory.

 

From a very preliminary review, Invasix
searched the reference of the 5 Syneron patents included in the Complaint in SIPO - “State Intellectual Property Office of
the R.B.C” website.

 

According to such search one Patent (Count
IV) is under application in PRC. Invasix has not reviewed the status of this application, its contents nor any other patents in
the field, either by Syneron or others.

 

	Syneron

Lawsuit	 	United 

States

Patent No.	 	Title	 	Issued on	 	Application

No. in China
	COUNT I	 	6,148,232	 	‘Transdermal drug delivery and delivery and analyte extraction”	 	November 14, 2000	 	 
	COUNT II	 	6,615,079	 	“Transdermal drug delivery and analyte extraction”	 	September 2, 2003	 	 
	COUNT III	 	8,496,654	 	“Method and apparatus for fractional skin treatment”	 	July 30, 2013	 	 
	COUNT IV	 	8,579,896	 	“Method and system for invasive skin treatment”	 	November 12, 2013	 	201080032750
	COUNT V	 	9,108,036	 	“Method and apparatus for fractional skin treatment”	 	August 18, 2015	 	 

 

Execution Copy

 

    	-3-

     

    

 

The Company shall decide post closing,
whether or not to sell the Fractora in the territory.

 

Schedule 22.1.3 (including all
subsections) −  Intellectual Property

 

See description of exclusive distribution
agreements in the Territory - Schedule 22.1.1 above.

 

See description of the Syneron Complaint in Schedule 22.1.2
above.

 

		 	
	 	 	 
		 	

 

 

Execution Copy

 

    	-4-

     

    

 

23.1.3.1

 

A list of Invasix’s Intellectual
Property

 

     

     

    

 

Invasix Ltd. – IP list (product)

 

	Product Name	 	Description
	Platforms	 	 
	InMode RF platform (AG604881A)	 	Platform for all RF applicators
	Fractora Blue platform (AG601398A)	 	Platform for all RF applicators
	InMode MD platform (AG605893A)	 	Platform for all RF & IPL applicators (excludes Laser applicator)
	InMode platform (AS602099A)	 	Platform all applicators
	 	 	 
	Applicators	 	 
	RF applicators	 	 
	Fractora Applicator (AG601261A)	 	FR energy applicator for skin treatment.
	Fractora Forma Applicator (AG603799A)	 	FR energy applicator for wrinkle treatment
	Fractora Plus Applicator (AS601679A)	 	FR energy applicator for wrinkle treatment, for larger area
	 	 	 
	BodyFX Applicator (AS600874A)	 	RF energy applicator for reduction, contraction and body shaping
	MiniFX Applicator (AG604696A)	 	RF energy applicator for reduction contraction and body shaping, for smaller area
	 	 	 
	IPL applicators	 	 
	Lumecca 515 Applicator (AS601863A)	 	Intense pulsed light (IPL) applicator for Skin Rejuvenation (facial pigmentation, superficial vessels, skin texture and/or photo-damage), for lighter skin
	Lumecca 580 Applicator (AS601864A)	 	Intense pulsed light (IPL) applicator for Skin Rejuvenation (facial pigmentation, superficial vessels, skin texture and/or photo-damage), for darker skin
	Lumecca HR/SR Applicator (AG605876A)	 	Intense pulsed light (IPL) applicator for hair removal and Skin Rejuvenation,
	 	 	 
	Laser applicator	 	 
	Diolaze Applicator (AS602143A)	 	Laser diode applicator, for hair removal
	 	 	 
	Disposables	 	 
	Fractora Tips (disposables)	 	 
	20Pin Ablative Fractora 5 pack (AG601259A)	 	20 pin tips used with the Fractora applicator
	24Pin Fractora tip 5 pack (AG602426A)	 	24 pin tips used with the Fractora applicator
	24Pin coated Fractora 5 pack (AG604108A)	 	24 coated pin tips used with the Fractora applicator
	60Pin sublative Fractora 5 pack (AG601674A)	 	60 sublative pin tips used with the Fractora applicator
	60Pin Ablative Fractora 5 pack (AG601260A)	 	60 ablative pin tips used with the Fractora applicator
	126Pin Sublative Fractora 5 pack (AG601819B)	 	126 sublabive pin tips used with the Fractora applicator
	Fractora Initial Tips Kit-Mix (AG604617A)	 	Initial kit contains a mix to various tips

 

With respect to items above, our files includes DMR (Device
Master Record): specifications, drawings, work instructions, training instructions.

 

	 		
	 	 	 
	 		 

 

Execution Copy

 

     

     

    

 

33.2

 

Conversion Formula

 

     

     

    

 

Exhibit 32.2

 

Conversion Formula

 

In this Exhibit 32.2, the following definitions
shall have the following meanings:

 

	“GIBF”	 	Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP)
	 	 	 
	“InMode China”	 	Guangzhou InMode Medical Technology Ltd.
	 	 	 
	“Invasix”	 	Invasix Ltd.
	 	 	 
	“Invasix Securities”	 	The ordinary shares class of securities of Invasix, on a fully diluted and as converted basis, participating in the Party B Exit Event
	 	 	 
	“Offering Document”	 	
        The second draft of the prospectus/registration
        statement to be filed by Invasix in an IPO process; Or,

         

        The substantially advanced draft agreement
        with the purchaser in the proposed Party B Exit Event.

	 	 	 
	“Valuation Date”	 	
        In an IPO exit event: the date of the Offering
        Document submission to the relevant Security Exchange authorities.

         

        In a Party B Exit Event: the date in which
        the final agreement draft was executed by the parties.

	 	 	 
	“AAIG”	 	The aggregate gross amounts extended by GIBF to InMode China (in USD) during the applicable period of time from Closing until the Valuation Date.
	 	 	 
	“CI”	 	Compounded interest on the AAIG, at an annual rate of 12%, calculated from the date in which each installment out of the AAIG was transferred by GIBF to InMode China until the Valuation Date.
	 	 	 
	“IACV”	 	
        Invasix average (between minimum and maximum
        valuation) company valuation in USD (fully consolidated, whereby InMode China is deemed fully owned by Invasix), as provided by
        the Invasix underwriters immediately prior to the Valuation Date in an IPO exit; or

         

        In Party B Exit Event: as reflected in
        the final agreement to be executed by the parties, and subject to any adjustments as agreed by the parties in said agreement.

	 	 	 
	“IH”	 	GIBF holdings % of Invasix Securities immediately following the conversion.
	 	 	 
	“ICS”	 	InMode China aggregate gross sales during the full 4 (four) calendar quarters preceding the Valuation Date, as reflected in the applicable audited or reviewed financial statements of InMode China according to the same accounting principles and determinations applied by Invasix.

 

     

     

    

 

	“ISW”	 	Invasix aggregate consolidated sales worldwide (consolidated to include InMode China sales) during the full 4 (four) calendar quarters preceding the Valuation Date, as reflected in the applicable audited or reviewed consolidated financial statements of Invasix.
	 	 	 
	“GHP”	 	GIBF holdings percentage in InMode China on the Valuation Date, multiplied by the percentage of the contribution amount actually provided by GIBF as of the Valuation Date out of the full Contribution Amount.

 

Capitalized terms not defined in this Exhibit
32.2 shall have the meaning ascribed to such terms in the JV Agreement.

 

		1.	In the event that the Party B Exit Event or IPO (as such terms are defined in the JV Agreement),
is consummated during the first 5 (five) years from the Closing of the JV Agreement (i.e. prior to or on December 12, 2021), GIBF
shall be entitled to participate in the Party B Exit Event or IPO, and to redeem all of its Equity Rights in InMode China for their
nominal value, and be issued, at nominal value per share, with such number of Invasix Securities, in accordance with the following
conversion formula:

 

IH = (AAIG + CI) / IACV

 

For example:

 

Assuming that on the Valuation
Date, the aggregate amounts invested by GIBF in InMode China including compounded interest (AAIG + CI) is US $7,000,000, and the
company valuation of Invasix (IACV) is US $200,000,000, then GIBF shall be entitled to participate in the Party B Exit Event, and
to redeem its Equity Rights in InMode China for their nominal value, and be issued, at nominal value per share, with such number
of Invasix Securities representing 3.5% of the issued and outstanding share capital of Invasix (after the issuance of the Invasix
Securities to GIBF) immediately following the conversion.

7,000,000/200,000,000
= 3.5%.

 

    	-2-

     

    

 

		2.	In the event that the Party B Exit Event or IPO is consummated at any time following 5 (five) years
from the Closing of the JV Agreement (i.e. after December 12, 2021), GIBF shall be entitled to participate in the Party B Exit
Event or IPO, and redeem all of its Equity Rights in InMode China for their nominal value, and be issued, at nominal value per
share, with such number of Invasix Securities in accordance with the higher from: (i) the conversion formula set forth in Section
1 above (except that the CI shall be at an annual rate of 5%, instead of 12%), and (ii) the following conversion formula:

 

IH = (ICS/ISW) * GHP

 

For example:

Assuming that on the Valuation
Date, the ICS equals to US $10,000,000, the ISW equals to US $100,000,000, and GIBF holdings percentage in InMode China (GHP) is
49%, then GIBF shall be entitled to redeem its Equity Rights in InMode China for their nominal value, and be issued, at nominal
value per share, with such number of Invasix Securities representing 4.9% of the issued and outstanding share capital of Invasix
Securities (after the issuance of the Invasix Securities to GIBF) immediately following the conversion.

(10,000,000/100,000,000)
*49% = 4.9%.

 

If, on the Valuation Date,
the aggregate amounts invested by GIBF equal to 2/3 of the Contribution Amount, then GIBF shall be entitled to convert its Equity
Rights in InMode China into such number of shares representing 3.27% of the issued and outstanding share capital of Invasix Securities
(after the issuance of the Invasix Securities to GIBF) immediately following the conversion.

(10,000,000/100,000,000) * 49% * 2/3= 3.27%

 

		3.	The conversion pursuant to this Exhibit
                                         32.2 shall be deemed as if consummated immediately prior to the Valuation Date subject
                                         to (i) the closing of Party B Exit Event or IPO and (ii) the participation by GIBF in
                                         the sale of the Invasix Securities in the Party B Exit Event or IPO. In the event that:
                                         (a) the Party B Exit Event or IPO is not consummated for any reason whatsoever, or (b)
                                         GIBF did not participate in a Party B Exit Event or in an IPO after having notified Invasix
                                         that it had elected to convert its holdings in InMode China to Invasix Securities, then
                                         the conversion formula shall not be deemed to have been exercised, and GIBF shall be
                                         re-issued with Equity Rights in InMode China, in such amount representing the holding
                                         percentages that GIBF had prior to the actual conversion and the JV Agreement shall continue
                                         to be in full force and effect. It is clarified that GIBF right to participate in an
                                         IPO should be subject to Invasix underwriters’ decision and other obligations of
                                         Invasix (regulatory or other). In any event, if GIBF is allowed to participate in an
                                         IPO, GIBF may be entitled to sell its holdings in Invasix on a pro rata basis to the
                                         participation rights of Invasix’ controlling shareholders.

 

    	-3-

     

    

 

		4.	In the event that there has been a technical amendment to the issued share capital of Invasix at
any time after the exercise of the conversion by GIBF (such as split, bonus shares, subdivision, combination or consolidation of
shares), the number of Invasix Securities to be issued to GIBF upon conversion shall be adjusted accordingly.

 

		5.	Upon conversion and subject to the Closing of the Party B Exit Event or IPO, the JV Agreement shall
automatically terminate (provided that the Party B Exit Event or IPO is consummated) and GIBF shall not be entitled to any further
rights with respect thereto and according to the Articles of Association of InMode China.

 

The Conversion notice provided
by GIBF shall be irrevocable. Invasix undertakes to submit to GIBF, as soon as possible, any and all documents and agreements required
in order to effectuate the conversion. Invasixs’ obligation to issue to GIBF the respective number of Invasix Securities
shall be subject to GIBF’s timely execution and delivery of all required documents and receipt of any needed approvals for
the conversion and the participation in the Party B Exit Event or IPO.

 

    	-4-

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