Document:

Exhibit 10.2

 

DaPulse Labs Ltd.

 

2013 Option Plan

 

1.      Name.
This plan, as adopted by the Board of Directors of DaPulse Labs Ltd., (the “Company”) on 29 January 2013, and
as amended from time to time, shall be known as the “DaPulse Labs Ltd. 2013 Option Plan” (the “Plan”).

 

2.      Purpose
of the Plan. The purposes of this Plan are to enable the Company to link the compensation and benefits of individuals and entities
providing services to the Company and/or its Affiliates with the success of the Company and with long-term shareholder value.

 

3.      Headings
and Definitions

 

3.1.          The
section headings are intended solely for the reader’s convenience and in no event shall they constitute a basis for the interpretation
of the Plan.

 

3.2.          In
this Plan, the following terms shall have the meanings set forth beside them:

 

	 	
    "Structural Change"

     
	
    Any re-domestication of the Company, share flip,
    creation of a holding company for the Company which will hold substantially all of the shares of the Company or any other transaction
    involving the Company in which the ordinary shares of the Company outstanding immediately prior to such transaction continue to represent,
    or are converted into or exchanged for shares that represent, immediately following such transaction, at least a majority, by voting power,
    of the share capital of the surviving, acquiring or resulting corporation and in which there is no material change to the interests held
    by the shareholders of the Company prior to such transaction and thereafter;

     

	 	"Affiliate"	
    Corporate entities who are related to the Company
    by way of common ownership or control, as such term is defined in section 32(9) of the Ordinance, either directly or indirectly,
    either partially or entirely, including but not limited to any “employing company” and "employer" as defined in
    Section 102(a) of the Ordinance;

     

	 	"Applicable Law"	
    The legal requirements applicable to the administration
    of option plans, any applicable laws, rules and regulations of any country or jurisdiction where Options are granted under the Plan,
    as such laws, rules, regulations and requirements shall be in place from time to time including any Stock Exchange rules or regulations;

     

	 	"Approved Option"	
    An Option granted under Section 102(b)(2) of
    the Ordinance, in accordance with the "capital gain tax route", and other rights granted with respect to such Option;

     

	 	“Board”	
    The Company’s Board of Directors, or,
subject to Applicable Law and the Company's incorporation documents, including the Articles of Association, any committee empowered by
the Board for the purpose of implementation of this Plan (or any aspect thereof);

 

    

    2

    

 

	 	“Cause” 	
    Irrespective of any definition included in any
    other document held by a Participant and unless otherwise determined by the Board in the Participant’s Option Agreement, the term
    Cause shall include any of the following-

     

    (a) A material breach of the employment or
    engagement agreement between the Company or an Affiliate and a Participant, including but not limited to, a breach of any confidentiality
    duty of a Participant (including in regards to the confidentiality of this Plan and any grant made thereunder), inappropriate use of confidential
    information of the Company or an Affiliate or an event of breach of trust or breach of any non-competition obligation of a Participant;

     

    (b) Any act which constitutes a breach of
    a Participant’s fiduciary duty towards the Company or an Affiliate, including without limitation disclosure of confidential information
    of the Company or an Affiliate and acceptance or solicitation to receive unauthorized or undisclosed benefits, irrespective of their nature,
    or funds or promises to receive either, from individuals, Consultants or corporate entities that the Company or an Affiliate does business
    with;

     

    (c) Any act of fraud by a Participant or
    embezzlement of funds of the Company or an Affiliate;

     

    (d) Any
    conduct or omission by, or state of affairs related to, the Participant reasonably determined by the Board to be materially detrimental
    to, or against the interests of, the Company or an Affiliate;

     

    (e) Any conviction of any felony involving
    moral turpitude or affecting the Company or an Affiliate;

     

    (f) Circumstances justifying the revocation
    and/or reduction of a Participant’s entitlement to severance pay under Applicable Law, including where relevant, pursuant to Sections
    16 or 17 of the Severance Pay Law, 1963; or

     

    (g) Any other reason which is be defined
    as Cause in the Participant’s personal employment contract;

     

    For
    the avoidance of doubt it is clarified that the determination as to whether a Participant is being terminated for Cause shall be
    made in good faith by the Board and shall be final and binding on the Participant;

     

	 	"Company"	
    DaPulse
Labs Ltd., a company incorporated under the laws of the state of Israel, or any Successor Company merged into the Company upon
which the Company did not survive, or any company which assumes the Plan within any M&A Transaction or Structural Change;

 

    

    3

    

 

	 	“Consultant”	
    Shall mean any person or entity, except an Employee,
    engaged by the Company or an Affiliate, in order to render services to such company, including any individual engaged by an entity providing
    services to the Company or an Affiliate as aforementioned;

     

	 	"Controlling Shareholder"	
    A controlling shareholder of the Company as defined
    in section 32(9) of the Ordinance, as amended from time to time;

     

	 	“Employee”	
    Shall mean any person, who has signed an employment
    agreement and has commenced employment with the Company or any Affiliate, or anyone who is on the payroll of such company and specifically
    excluding anyone who may under Applicable Law be deemed an employee of the Company or an Affiliate if an employment agreement was not
    signed and he is not on the payroll of such company. Solely in respect of Approved Options, this term shall include any officer or a member
    of the board of directors of such company all in accordance with Section 102;

     

	 	“Exercise Price”	
    Shall mean the consideration required to be paid
    by a Participant in order to exercise one Option;

     

	 	“Expiration Date”	
    With respect to an Option, the earlier of (i) the
    time such Option is fully exercised, or (ii) ten (10) years from the Grant Date of such Option, or (ii) the time on which
    such Option expires in accordance with Sections 9 and 12 below;

     

	 	
    “Fair Market Value”

     
	
    Shall mean, as of any date, the value of an ordinary
    share of the Company determined as follows:

     

    (i) If the ordinary shares are listed on
    any established Stock Exchange, the Fair Market Value shall be the closing sales price for such ordinary shares (or the closing bid, if
    no sales were reported), as quoted on such Stock Exchange for the last market trading day prior to the time of determination;

     

    (ii) If the ordinary shares
    are regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value shall be the mean between
    the high bid and low asked prices for the ordinary shares on the last market trading day prior to the day of determination, or;

     

    (iii) In the absence of any of the above,
    the Fair Market Value thereof shall be determined in good faith by the Board of Directors of the Company.

     

    For the avoidance of doubt, and where applicable,
the above definition of Fair Market Value shall not apply for the purpose of determining the tax liability pursuant to Section 102(b)(3) of
the Ordinance;

 

    

    4

    

 

	 	"Grant Date"	
    The date of the Board resolution approving the
    grant of the Options, unless otherwise determined by the Board;

     

	 	"Holding Period"	
    The holding period provided under Section 102
    in respect of the "capital gain tax route" or under a tax ruling by the Israeli Tax Authority;

     

	 	
    "Israeli Employee"

     
	
    An Employee of the Company or of an Israeli resident
    Affiliate, who is an Israeli tax resident and who is not a Controlling Shareholder at the time of grant, or as a consequence of the grant,
    as stated in Section 102;

     

	 	“Ordinance”	
    The Israeli Income Tax Ordinance [New Version],
    1961, as amended from time to time;

     

	 	“Option”	
    An option to purchase one Share, granted to a
    Participant, subject to the provisions of this Plan and the applicable Option Agreement;

     

	 	“Option Agreement”	
    A written agreement between the Company and a
    Participant or a notice provided by the Company setting forth the terms and conditions under which Options are granted to a Participant;

     

	 	“Participant”	
    Shall mean anyone to which an Option was granted
    in accordance with section 5 of the Plan;

     

	 	“Plan”	
    Shall
    mean this DaPulse Labs Ltd. 2013 Option Plan, including any amendments thereto;

     

	 	“Section 102”	
    Section 102 of the Ordinance and the Israeli
    Income Tax Rules (Tax Relief in Issuance of Shares to Employees) 2003, as amended from time to time;

     

	 	“Share”	
    An ordinary share of the Company, nominal value
    NIS 0.01, which is issued or issuable to a Participant upon exercise of an Option;

     

	 	
    "Spin-off Transaction"

     
	
    Any transaction in which assets of the Company
    are transferred or sold to a company or corporate entity in which the shareholders of the Company hold equal stakes, pro-rata to their
    ownership of the Company [hence – transfer of assets to a sister company of the Company];

     

	 	
    “Stock Exchange”

     
	
    Any stock exchange, on which ordinary shares
of the Company are listed, or such other market or a national market system, on which the Company’s ordinary shares’ prices
are regularly quoted;

 

    

    5

    

 

	 	“M&A Transaction”	
    Any Deemed
    Liquidation Event and/or any other similar or parallel definition as defined in and determined pursuant to the Articles of Association
    of the Company as amended from time to time, excluding any Structural Change or Spin-off Transaction, and  including, for the avoidance
    of doubt:

    (a) A sale of all or substantially all the assets of the Company
    and its subsidiaries taken as a whole, or the sale or disposition (whether by merger or otherwise) of one or more subsidiaries of the
    Company if substantially all of the assets of the Company and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries;

    (b) A merger of the Company with or into another entity, including
    a reverse triangular merger but excluding a merger which falls within the definition of Structural Change; or

    (c) A
    sale of all or substantially all of the ordinary shares of the Company to a third party unrelated to the current shareholders of the Company,
    whether by a single transaction or a series of related transactions which occur either over a period of 12 months or within the scope
    of the same acquisition agreement;

     

	 	“Successor Company”	
    Shall
    mean any entity with or into which the Company merged, or to which certain operations or certain assets of the Company were transferred,
    or which purchased substantially all the Company’s assets or ordinary shares, including any parent of such entity;

     

	 	“Tax”	
    Any applicable tax and other compulsory payments
    such as social security and health tax contributions required to be paid under any applicable law in relation to the Options or the rights
    deriving there-from;

     

	 	
    “Termination”

     
	
    For an Employee, the termination of employment,
    and for a Consultant, the expiration, or termination of such person’s consulting or advisory relationship with the Company or an
    Affiliate, or the occurrence of any termination event as set forth in such person’s Option Agreement;

     

    For the purpose of this plan the following shall
    not be considered as Termination (i) for an Employee – paid vacation, sick leave, paid maternity leave, infant care leave,
    medical emergency leave, military reserve duty, or any other leave of absence authorized in writing by the Board; and (ii) for a
    Consultant- any temporary interruption in such person’s availability to provide services to the Company and/or an Affiliate, which
    has been authorized in writing by Board, as the case may be, prior to its commencement;

     

    Termination shall not include any transfer
of a Participant between the Company and any Affiliate or between Affiliates, nor shall it include any change in a Participant's engagement
status between an "Employee" and "Consultant" and vice versa;

 

    

    6

    

 

	 	“Termination Date”	
    With regard to any Employee, the first date following
    the Date of Grant on which there are no longer employment relations between such Employee and the Company or an Affiliate, for any reason
    whatsoever; however for the purpose of Termination for Cause, the Termination Date is the date on which a notice regarding such termination
    was sent by the Company or an Affiliate to the Employee;

     

    With regard to any Consultant, the earlier of
    (i) the date of termination of the agreement between the Consultant and the Company or an Affiliate; or (ii) the date on which
    a notice regarding such termination of agreement was sent by the Company or an Affiliate, or by the Consultant, to the other party;

     

	 	"Transfer"	
    With respect of any Option or Share – the
    sale, assignment, transfer, pledge, mortgage or other disposition thereof or the grant of any right to a third party thereto;

     

	 	“Trustee”	
    Any trustee appointed by the Company in accordance
    with Section 102 and approved by the Israeli Tax Authority;

     

	 	
    "Non-Approved 102 Option"

     
	An Option which is governed by Section 102(c) of the Ordinance;
	 	“Vesting Date”	
    The date upon which the Option becomes exercisable,
    as determined in accordance with this Plan and set forth in the Option Agreement.

     

 

4.      Administration
of the Plan

 

4.1.          The
Board shall have the power to administer the Plan.

 

4.2.          Subject
to the provisions of the Plan, applicable law and the Company's incorporation documents, the Board shall have the authority, at its discretion:
(i) to grant Options to Participants; (ii) to determine the terms and provisions of each Option granted (which need not be identical),
including, but not limited to, the number of Options to be granted to each Participant, provisions concerning the time and the extent
to which the Options may be exercised, the underlying Shares sold and the nature and duration of restrictions as to the Transferability
of Options and/or Shares; (iii) to amend, modify or supplement (with the consent of the applicable Participant, if such amendments
refer to the extension of any vesting schedule determined for the Options or increase the Exercise Price of the Options or cancellation
of any Options without compensation) the terms of each outstanding Option; (iv) to interpret the Plan; (v) to prescribe, amend,
and rescind rules and regulations relating to the Plan, including the form of Option Agreements and rules governing the grant
of Options in jurisdictions in which the Company or any Affiliate operate; (vi) to authorize conversion or substitution under the
Plan of any or all Options or Shares and to cancel or suspend Options, as necessary, provided that, unless consent is received from the
Participants, the interests of the Participants are not materially harmed; (vii) to accelerate or defer (with the consent of the
Participant) the right of a Participant to exercise in whole or in part, any previously granted Options; (viii) to authorize any
person to execute on behalf of the Company any instrument required to effectuate the grant of an Option previously granted by the Board;
and (ix) to make all other determinations deemed necessary or advisable for the administration of the Plan.

 

    

    7

    

 

4.3.          This
Plan shall apply to grants of Options made following the adoption of this Plan by the Board.

 

4.4.          All
decisions, determinations, and interpretations of the Board shall be final and binding on all Participants unless otherwise determined
by the Board.

 

5.      Eligibility.
Options may be granted to Employees or Consultants, provided that if services have not commenced, the grant will be made subject to commencement
of actual services ; An Approved Option and a Non-Approved Option may only be granted to Israeli Employees.

 

6.      Shares
Reserved for the Plan. The Company during the term of this Plan will at all times reserve and keep available such number of Shares
as shall be sufficient to satisfy the vested portion of Options granted under the Plan and any other share and option plans which may
be adopted by the Company in the future, subject to any adjustment made to the share capital of the Company by way of share split, reverse
share split, distribution of share dividend or similar recapitalization events, at any time hereafter. The Shares may be authorized but
unissued ordinary shares, or reacquired ordinary shares of the Company. If an Option should expire or become un-exercisable for any reason
without having been exercised in full Shares that were subject thereto shall, unless the Plan shall have been terminated, become available
for future grant under the Plan. Shares issued under the Plan and later repurchased by the Company pursuant to any repurchase right which
the Company may have, shall be available for future grant under the Plan.

 

7.      Options

 

7.1.          Grant

 

7.1.1.      The
Board may grant Options from time to time at their sole discretion. The Options granted pursuant to the Plan, shall be evidenced by a
written Option Agreement. Each Option Agreement shall state, among other matters, the number of Options granted, the Vesting Dates, the
Exercise Price, the tax route and such other terms and conditions as the Board at its discretion may prescribe, provided that they are
consistent with this Plan.

 

7.1.2.      Options
which are Approved Options, as determined in the Option Agreement, and any Shares issued in respect of such Approved Option shall be subject
to the Trustee’s trusteeship, as provided in Section 11 below. Any grant of an Approved Option shall be subject to compliance
with the conditions of Section 102 and shall be granted only 30 days or more after the submission of the Plan for approval by the
Israeli Tax Authority.

 

7.2.          Vesting.

 

7.2.1      The
Board shall set vesting criteria in its discretion, which, depending on the extent to which the criteria are met, will determine the number
of Options that will vest and become exercisable. The Board may set vesting criteria based upon continued engagement with the Company
or any Affiliate or based upon both continued engagement and the achievement of Company-wide, business unit, or individual goals , or
any other condition as determined by the Board in its discretion. The vesting conditions and schedule shall be set in the applicable Option
Agreement. No Option shall be exercised after the Expiration Date. The vesting provisions of individual Options may vary.

 

    

    8

    

 

7.2.2      Unless
determined otherwise by the Board, the vesting of the Options shall be postponed during any un-paid leave of absence. Upon return to
service, the vesting shall continue and the Vesting Dates shall be postponed in accordance with the period of un-paid leave. Despite
the aforementioned, the following shall not postpone the vesting of the Options: paid vacation, sick leave, paid maternity leave, infant
care leave, medical emergency leave, military reserve duty.

 

7.2.3      The
vesting of the options shall continue upon any transfer of a Participant between the Company and any Affiliate or between Affiliates.

 

7.3.          An
Option may be subject to such other terms and conditions, not inconsistent with the Plan, on the time or times when it may be exercised
as the Board may deem appropriate.

 

7.4.          Exercise
of Options

 

7.4.1.      An
Option shall be exercised by submission to the Company of a notice of exercise, in a form set by the Company. The exercise of an Option
shall occur on such time on which a notice of exercise has been received by the Company accompanied by payment in full of the Exercise
Price payable therefor, and as soon as practicable thereafter, and subject to the provisions of section 8.3 below, the Company will issue
the Share(s) underlying such exercised Option, provided that the Shares so issued shall not be delivered to the Participant or any
third party (other than the Trustee, if applicable) unless and until all applicable Tax was paid to the Trustee’s (if applicable)
and the Company’s full satisfaction and subject to compliance with Applicable Law.

 

7.4.2.      Except
as otherwise provided in the Plan or in an Option Agreement, an Option may be exercised in full or in part, subject to the Expiration
Date, provided it is not exercised for a fraction of a Share, as further detailed in section 8.3 below.

 

7.4.3.      Notices
of exercise of Options, which are submitted after the Expiration Date, or which relate to Options that have not yet vested, or which do
not contain all of the details required by the exercise form, shall not be accepted and shall have no force whatsoever.

 

7.4.4.      The
Participant shall sign any document required under any Applicable Law or by the Company or the Trustee for the purposes of issuance of
the Shares.

 

7.4.5.      As
a condition to the exercise of an Option, the Company may require the person exercising such Option to represent and warrant at the time
of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such
Shares if, in the opinion of counsel for the Company, such a representation is required.

 

7.5.          Consideration.

 

7.5.1.      The
Exercise Price of each Share subject to an Option shall be determined by the Board in its sole and absolute discretion in accordance with
Applicable Law, subject to any guidelines as may be determined by the Board from time to time. Each Option Agreement will contain the
Exercise Price determined for each Option covered thereby. The Exercise Price may or may not be equal to the Fair Market Value of the
ordinary Shares of the Company, and any evaluation executed in relation to such shares shall not obligate the Company when determining
the Exercise Price of any Option.

 

    

    9

    

 

7.5.2.      The
Exercise Price shall be paid in cash or cheque at the time the Option is exercised, or by any other means as determined by the Board.
Should the Company's ordinary shares be listed for trade on a Stock Exchange the Board may consider allowing a cashless exercise, or any
other exercise method, subject to the provisions of Applicable Law. If, as of the date of exercise of an Option the Company is then permitting
cashless exercises, the Participants will be able to engage in a “same-day sale” cashless brokered exercise program, involving
one or more brokers, through such a program that complies with the Applicable Laws and that ensures prompt delivery to the Company of
the amount required to pay the Exercise Price and any Tax.

 

7.5.3.      The
Exercise Price shall be denominated in the currency of the primary economic environment of, at the Company’s discretion, either
the Company or the Participant (that is the functional currency of the Company or the currency in which the Participant is paid).

 

8.      Terms
and Conditions of the Options. Options granted under the Plan shall be evidenced by the related Option Agreement and shall be subject
to the following terms and conditions and to such other terms and conditions included in the Option Agreement not inconsistent therewith,
as the Board shall determine:

 

8.1.          Non
Transferability of Options. Unless otherwise determined by the Board, an Option shall not be Transferable by the Participant other
than in accordance with section 9.2.1.2 below. Options or rights arising therefrom shall not be subject to mortgage, attachment or other
willful encumbrance, and no power of attorney shall be issued in respect thereof, whether such enter into force immediately or at a future
date.

 

8.2.          One
Time Benefit. The Options and underlying Shares are extraordinary, one-time benefits granted to the Participants, and are not and
shall not be deemed a salary component for any purpose whatsoever, including in connection with calculating severance compensation under
any Applicable Law.

 

8.3.          Fractions.
An Option may not be converted into a fraction of a Share. In lieu of issuing fractional Shares, on the vesting of a fraction of an Option,
the Company shall convert any such fraction of an Option, which represents a right to receive 0.5 or more of a Share, to one Share and
shall extinguish any such fraction of an Option, which represents a right to receive less than 0.5 of a Share without issuing any Shares.

 

8.4.          Term.
No full or partial exercise of an Option shall be carried out following the Expiration Date of such Option.

 

9.      Termination
of Employment or Engagement.

 

9.1.          Unvested
Options. Unless otherwise determined by the Board, in the case of Termination, any Option or portion thereof that was not vested as
of the Termination Date shall immediately expire on the Termination Date.

 

9.2.          Vested
Options

 

9.2.1.      Termination
other than for Cause.

 

9.2.1.1.      Unless
otherwise determined by the Board, in the case of Termination other than for Cause, any Option or portion thereof that is vested as of
the Termination Date may be exercised but only within such period of time ending on the earlier of (i) ninety (90) days following
the Termination Date, or (ii) the Expiration Date, but only to the extent to which such Option was exercisable at the time of the
Termination Date. If, after the Termination Date, the Participant does not exercise his or her Option within the time specified above
or in the Option Agreement, the Option shall expire.

 

    

    10

    

 

9.2.1.2.      Unless
otherwise determined by the Board, in the event of (i) Termination as a result of the Participant’s death or disability or
(ii) the Participant dies within the period stated in section 9.2.1.1, then the Option may be exercised (to the extent exercisable
as of the date of death) by the Participant in the event of disability, the Participant’s legal guardian, the Participant’s
estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated to exercise the
Option upon the Participant’s death (the “Assignees”), but only within the period ending on the earlier of (1) the
date twelve (12) months following the date of death or the Termination Date due to disability (as the case may be) (or such longer or
shorter period specified in the Option Agreement) or (2) the Expiration Date. If, after death or termination due to disability (as
the case may be), the Option is not exercised within the time specified herein, the Option shall expire. The Transfer of Options to any
Assignee shall be subject to the provision of a written notice to the Company and to the execution by the Assignee of any documents required
by the Company. All of the terms of any Option, whether in this Plan, the Option Agreement and/or any other document in respect of such
Option, shall be binding upon the Assignees.

 

9.2.1.3.      If
the exercise of an Option following the Termination Date or death would be prohibited at any time solely because the issuance of Shares
would violate requirements of any Applicable Law, then the Option shall expire: (i) in the event of a Termination - at the end of
a period of ninety (90) days in the aggregate, or (ii) in the event of death - at the end of a period of twelve (12) months in the
aggregate, during which the exercise of the Option would not be in violation of such requirements.

 

9.2.1.4.      It
is clarified that during such periods following the Termination Date the Participant's entitlement to Options shall not continue to vest.

 

9.2.1.5.      The
Board shall have the sole authority to extend the exercise periods detailed in sections 9.2.1.1 – 9.2.1.3 above at its sole discretion.

 

9.2.2.       Termination
for Cause. If a Participant’s employment or engagement with the Company is terminated for Cause, any Option or portion thereof
that has not been exercised as of the Termination Date shall immediately expire on the Termination Date.

 

9.3.          No
Participant shall be entitled to claim against the Company that he or she was prevented from continuing to vest Options as of the Termination
Date. Such Participant shall not be entitled to any compensation in respect of the Options which would have vested in his favor had such
Participant’s employment or engagement with the Company not been terminated.

 

10.    No
Right to Employment, Service, Options or Shares. The grant of an Option, the vesting of any Option or the issuance of a Share under
the Plan shall impose no obligation on the Company or an Affiliate to continue the employment of any Employee or the engagement with any
Consultant and shall not lessen or affect the Company's or an Affiliate's right to terminate the employment or service relationship of
such Participant at any time and/or for any or no reason with or without Cause, even if such Termination is immediately prior to the vesting
of any Option. No Participant or other person shall have any claim to be granted any Options or to the vesting of any Options, whether
expired immediately following grant or prior to vesting. There is no obligation for uniformity of treatment of Participants, or holders
or beneficiaries of Options and the terms and conditions of Options and the Board's determinations and interpretations with respect thereto
need not be the same with respect to each Participant (whether or not such Participants are similarly situated).

 

    

    11

    

 

Nothing contained in the Plan
shall prevent the Company from adopting, adjusting or continuing in effect compensation arrangements, which may, but need not, provide
for the grant of Options or Shares.

 

11.    Trust

 

11.1.        Approved
Options and any Shares issued in connection with such Approved Options shall be held by the Trustee for the benefit of the Participant,
in accordance with the provisions of Section 102 in the "capital gain tax route". Any grant and any exercise of an Option
or sale or transfer of a Share shall be notified to the Trustee.

 

11.2.        The
validity of any order given to the Trustee by a Participant shall be subject to approval of such order by the Company. The Company does
not undertake to approve orders given by any Participant to the Trustee within any period of time.

 

11.3.        Subject
to the provisions of this Plan, the Approved Options and any Shares issued in connection with such Approved Options shall not be released
from the control of the Trustee nor shall they be Transferred unless the Company and the Trustee are satisfied that the full amounts of
Tax due by the applicable Participant have been paid or will be paid.

 

11.4.        Subject
to the provisions of Section 102, a Participant shall not Transfer or release from the control of the Trustee any Approved Option
or any Share issued in connection with such Approved Options, until the lapse of the Holding Period. Notwithstanding the above, if any
such release or Transfer occurs during the Holding Period, the sanctions under Section 102 shall apply to and shall be borne by such
Participant.

 

11.5.        As
long as the Approved Options and any Shares issued in connection with such Approved Options are held by the Trustee for the benefit of
the Participant, all rights of the Participant over the Approved Options and Shares cannot be Transferred other than by will or laws of
descent and distribution.

 

11.6.        Without
derogating from the aforementioned, the Board shall have the authority to determine the specific procedures and conditions of the trusteeship
with the Trustee in a separate agreement between the Company and the Trustee, all subject to Section 102.

 

11.7.        Should
the Approved Options or any Shares issued in connection with such Approved Options be transferred by power of a last will or under laws
of decent, the provisions of Section 102 shall apply to the heirs or transferees of the deceased Participant.

 

11.8.        Approved
Options that do not comply with the requirements of Section 102 shall be considered Non-Approved 102 Options or Options subject to
tax under Section 3(i) of the Ordinance.

 

12.    Adjustments
to the Shares subject to the Plan

 

12.1.        Adjustment
Due to Change in Capital. If the ordinary shares of the Company shall at any time be changed or exchanged by declaration of a share
dividend (bonus shares), share split, combination or exchange of shares, recapitalization, or any other like event by or of the Company,
and as often as the same shall occur, then the number and class of the Shares underlying the Options subject to the Plan and the Exercise
Price of the Options shall be appropriately and equitably adjusted so as to maintain the proportionate equity portion represented by the
Options and the total Exercise Price of the Options, provided, however, that no adjustment shall be made by reason of the distribution
of subscription rights (rights offering) on outstanding ordinary shares or other issuance of shares by the Company. Fractions of shares
shall be dealt with in accordance with the provisions of section 8.3 above. Except as expressly provided herein, no issuance by the Company
of shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment by reason thereof shall be
made with respect to, the number or price of Shares underlying an Option. Any adjustment according to this section shall be subject to
the receipt of a tax ruling or approval from the tax authorities, if and as necessary.

 

    

    12

    

 

12.2.        Adjustment
Due to a Structural Change. In the event of a Structural Change the Shares underlying the Options subject to the Plan shall be exchanged
or converted into shares of the Company or Successor Company in accordance with the exchange effectuated in relation to the ordinary shares
of the Company, and the Exercise Price and quantity of shares shall be adjusted in accordance with the terms of the Structural Change.
The adjustments required shall be determined in good faith solely by the Board.

 

12.3.        Adjustment
Due to a Spin-Off Transaction. In the event of a Spin-Off Transaction, the Board may determine that the holders of Options shall be
entitled to receive equity in the new company formed as a result of the Spin-Off Transaction, in accordance with equity granted to the
ordinary shareholders of the Company within the Spin-Off Transaction, taking into account the terms of the Options, including the vesting
schedule and Exercise Price. The determination regarding the Participant's entitlement within the scope of a Spin-Off Transaction shall
be in the sole and absolute discretion of the Board.

 

12.4.        M&A
Transaction.

 

12.4.1      Upon
any M&A Transaction, any and all outstanding, unexercised options granted under the Plan, whether vested or unvested, will be cancelled
for no consideration. The Board in its sole and absolute discretion may determine a different treatment of options granted under the Plan
including: (i) assumption or exchange of Options and/or Shares for options and/or shares and/or other securities or rights of the
Successor Company or parent or affiliate thereof; and/or (ii) exchange of Options or Shares for a monetary compensation (including
for avoidance of doubt both vested and un-vested Options and in addition including a cash-out of the Options for the net value); and/or
(iii) determining that the exchange, assumption, conversion or purchase detailed above will be made subject to any payment or escrow
arrangement, or any other arrangement determined within the scope of the M&A Transaction in relation to the ordinary shares
of the Company. In the case of assumption and/or substitution of Options, appropriate adjustments shall be made so as to reflect such
action and all other terms and conditions of the Option Agreements shall remain unchanged, including but not limited to the vesting schedule,
all subject to the determination of the Board, which determination shall be at its sole discretion and final. The grant of any substitutes
for the Options and/or Shares to Participants further to a M&A Transaction, as provided in this section, shall be considered
as full compliance with the terms of this Plan. The value of the exchanged Options and/or Shares pursuant to this section 12.4 shall be
determined in good faith solely by the Board, based on the Fair Market Value, and its decision shall be final and binding on all the Participants.

 

12.4.2      For
the purposes of this section 12.4, the mechanism for determining the assumption or exchange as aforementioned shall be agreed upon between
the Board and the Successor Company.

 

12.4.3      Without
derogating from the above, in the event of a M&A Transaction the Board shall be entitled, at its sole discretion, to require
the Participants to exercise all vested Options within a set time period and sell all of their Shares on the same terms and conditions
as applicable to the other shareholders selling their Company’s ordinary shares as part of the M&A Transaction. Each
Participant acknowledges and agrees that the Board shall be entitled to authorize any one of its members to sign share transfer deeds
in customary form in respect of the Shares held by such Participant and that such share transfer deed shall bind the Participant.

 

    

    13

    

 

12.4.4      Despite
the aforementioned, if and when the method of treatment of Options within the scope of an M&A Transaction determined according to
the above will in the sole opinion of the Board prevent the M&A Transaction from occurring, or materially risk the M&A Transaction,
the Board may determine different treatment for different Options held by Participants such that not all Options will be treated equally
within the scope of the M&A Transaction.

 

12.4.5      In
the event in which the exercise price of the Options is higher than the per-share value of the shares of the Company in such an M&A
Transaction ("out-of-the-money options"), the Board shall be entitled to cancel and terminate such Options effective upon consummation
of the M&A Transaction without consideration.

 

12.4.6      In
the event in which the Options shall be cancelled upon the M&A Transaction, the Company shall provide notice to such Participants
in such manner as notice is provided regarding the M&A Transaction to any other shareholders of the Company not represented in the
Board. Such notice shall be sent to the last known address of the Participants according to the records of the Company. The Company shall
not be under any obligation to ensure that such notice was actually received by the Participants.

 

12.5.        Liquidation.
In the event of the proposed dissolution or liquidation of the Company, all Options will expire immediately prior to the consummation
of such proposed action, unless otherwise provided by the Board.

 

12.6.        The
Participants shall execute any documents required by the Company or any Successor Company or parent of affiliate thereof in order to affect
any of the actions determined within the scope of this section 12. The failure to execute any such document may cause the expiration and
cancellation of any Option held by such Participant, as determined by the Board in its sole and absolute discretion.

 

13.   Taxes
and Withholding Tax

 

13.1.        Approved
Options and Non-Approved 102 Options shall be taxed in accordance with Section 102. For the avoidance of doubt it is clarified that
any Option granted to a Consultant or a Controlling Shareholder or any Option granted to a Participant who is not an Israeli tax resident,
shall not be subject to the provisions of Section 102 and shall be taxed in accordance with Applicable Law.

 

13.2.        Any
Tax imposed in respect of the Options and/or Shares, including, but not limited to, in respect of the grant of Options, and/or the exercise
of Options into Shares, and/or the Transfer, waiver, or expiration of Options and/or Shares, and/or the sale of Shares, shall be borne
solely by the Participants, and in the event of death by their heirs or transferees. The Company, the Affiliates, the Trustee (if applicable)
or anyone on their behalf shall not be required to bear the aforementioned Taxes, directly or indirectly, nor shall they be required to
gross up such Tax in the Participants’ salaries or remuneration. The applicable Tax shall be deducted from the proceeds of sale
of Shares or shall be paid to the Company, an Affiliate or the Trustee (if applicable) by the Participants. Without derogating from the
aforementioned, the Company, an Affiliate and the Trustee (if applicable) shall be entitled to withhold Taxes according to the requirements
of any Applicable Laws, rules, and regulations, and to deduct any Taxes from payments otherwise due to the Participant from the Company
or an Affiliate (if applicable).

 

    

    14

    

 

13.3.        The
Company's or Trustee's (if applicable) obligation to deliver Shares upon exercise of an Option or to sell or transfer Shares is subject
to payment (or provision for payment satisfactory to the Board and the Trustee (if applicable)) by the Participant of all Taxes due by
him under any Applicable Law.

 

13.4.        The
Participants shall indemnify the Company and/or the applicable Affiliate and/or the Trustee (if applicable), immediately upon request,
for any Tax (including interest and/or fines of any type and/or linkage differentials in respect of Tax and/or withheld Tax) for which
the Participant is liable under any Applicable Law or under the Plan, and which was paid by the Company, the Affiliate or the Trustee
(if applicable), or which the Company, the Affiliate or the Trustee (if applicable) are required to pay. The Company, the Affiliate and
the Trustee (if applicable) may exercise such indemnification by deducting the amount subject to indemnification from the Participants’
salaries or remunerations.

 

13.5.        In
respect to Non-Approved 102 Options, if there occurs a Termination of the Participant's service to or employment with the Company or an
Affiliate, the Participant shall extend to the Company or the applicable Affiliate a security or guarantee for the payment of Tax due
in respect of such Option as required under Section 102.

 

14.    Registration
of the Shares on a Stock Exchange

 

14.1.        Should
reorganization or certain other arrangements regarding the Company’s share capital be necessary prior to the registration of the
Company’s ordinary shares or their respective depositary receipts on a Stock Exchange, such arrangements or reorganization may be
also carried out in respect of the Participants and their Options and/or Shares.

 

14.2.        The
Participant acknowledges that in the event that the Company’s ordinary shares or their respective depositary receipts shall be registered
for trading in any Stock Exchange, or in the event of a private offering of shares, the Participant’s rights to sell the Shares
may be subject to certain 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.

 

14.3.        The
Company does not undertake to cause the ordinary shares or the Shares to be listed on a Stock Exchange, or that the registration of the
ordinary shares or the Shares for trade, if at all, shall take place within a certain period of time.

 

15.    The
Rights Attached to the Shares

 

15.1.        Equal
Rights. The Shares constitute part of the ordinary shares of the Company, and they shall have equal rights for all intents and purposes
as the rights attached to the ordinary shares of the Company, subject to the provisions of this Plan and any Option Agreement. The Shares,
being part of the ordinary shares of the Company, shall not be protected against dilution in any manner whatsoever, unless otherwise determined
by the Board. It is hereby clarified that the Shares shall not constitute a separate class of shares, but shall be an integral part of
the Company’s ordinary shares.

 

Any change of the Company’s
Articles of Association or any other incorporation document, which may change the rights attached to the Company’s ordinary shares,
shall also apply to the Shares, and the provisions hereof shall apply with the necessary modifications arising from any such change.

 

    

    15

    

 

The grant of Options and issuance
of Shares under this Plan shall not restrict the Company in any way regarding future creation of additional and/or other classes of shares,
including classes of shares, which may in any manner be preferred over the currently existing ordinary shares which are offered to Participants
under this Plan. Subject to section 12.1 above, the grant of Options and Shares under this Plan shall not entitle any Participant to receive
any compensation in the event of any change of the Company’s capital.

 

15.2.        Dividend
Rights. No Participant shall have any rights to receive dividends in respect of the Shares underlying any outstanding Options, until
such Options are exercised into Shares and these Shares are issued to the Participant or the Trustee. Following the issuance of such Shares
by the Company, such Shares will entitle the Participant to receive any dividend, to which other holders of ordinary shares in the Company
are entitled.

 

15.3.        Transfer
and Sale of Shares. Shares shall be sold or transferred in accordance with the Company's Articles of Association or by will or laws
of descent and distribution.

 

15.4.        Bring
Along. For the avoidance of doubt it is clarified that as part of the ordinary shares of the Company, Shares issued upon exercise
of Options or in connection thereto shall be subject to any bring-along provision included in the incorporation documents of the Company
or any shareholders agreement or similar agreement(s) by which some or all holders of ordinary shares of the Company are bound.

 

15.5.        Voting
Rights. No Participant shall have any rights to vote in the Company’s meetings in respect of underlying Shares, until such Shares
are issued to the Participant or the Trustee. Following the issuance of such Shares by the Company, the Participant shall have the same
voting rights as other holders of ordinary shares in the Company. Notwithstanding the aforesaid, and unless determined otherwise by the
Board, as long as the Company’s ordinary shares are not traded on a Stock Exchange, any Shares issued upon the exercise of an Option
shall be voted by an irrevocable proxy, such proxy to be assigned to the person or persons designated by the Board. The Participants will
be required, as a condition to the issuance of any Share under the Options granted pursuant to this Plan, to sign such a proxy. Unless
otherwise determined by the Board, the proxy will be transferred upon any transfer of Shares unless such transfer occurs upon a M&A
Transaction or upon or after an IPO of the Company.

 

		16.	Repurchase Right:

 

The following shall apply only until
the listing of the Company’s ordinary shares on a Stock Exchange, and if required shall be subject to the receipt of any approval
required by applicable law:

 

16.1.        Repurchase
in the case of Termination for Cause: In the event that the Participant’s employment or engagement with the Company or an Affiliate
is terminated for Cause, or if following Termination it is found that the Participant committed an act constituting Cause, any Shares
already issued to the Participant as a result of exercise of Options shall be returned to the Company upon request of the latter for the
lower of the original purchase price (the Exercise Price) and the then Fair Market Value of such Shares.

 

16.2.        Repurchase
in the case of working for a competitor: The Company shall have the right to purchase, for the lower of the original purchase price and
the then Fair Market Value, any Shares already issued to a Participant, whose employment or engagement with the Company or an Affiliate
was terminated for any reason, in the event that after the Termination, such Participant will commence working or providing services to
a competitor of the Company or an Affiliate or to a subsidiary or affiliate of such competitor. For the purposes of this Section, a “competitor”
shall mean any person or entity that operates, conducts, or manages a business in the field of the Company’s business. This restriction
is limited to a time period of 2 years after the termination of employment.

 

    

    16

    

 

16.3.        In
the event that the Board has determined that a Participant’s Shares shall be repurchased under any of the aforesaid sections 16.1-16.2,
then the Participant shall be obliged to sell, any Shares that such Participant has received under the Plan, in accordance with the instructions
issued by the Board. The determination of the Board in this regard shall be final.

 

16.4.        If
the Company is not permitted under Applicable Law to repurchase Shares under sections 16.1-16.2, the Company may assign such right under
the Plan to the Company’s existing shareholders (save, for avoidance of doubt, for other Participants who hold Shares resulting
from the exercise of Options granted under the Plan or any other employee benefit plan).

 

17.    Changes
to the Plan. The Board shall be entitled, from time to time, to update and/or change the terms of this Plan, in whole or in part,
at its sole discretion, provided that only if the amendment refers to the extension of any vesting schedule determined for the Options
or increase of the Exercise Price of the Options or cancellation of any Options without compensation consent is received from the Participants.
The Board shall be entitled to terminate this Plan at any time, provided that such termination shall not materially affect the rights
of Participants, to whom Options have already been granted.

 

18.    Effective
Date and Duration of the Plan

 

18.1.        The
Plan shall be effective as of the day it was adopted by the Board and shall terminate at the end of ten (10) years from such day
of adoption.

 

18.2.        The
Company shall obtain the approval of the Company’s shareholders for the adoption of this Plan or for any amendment to this Plan,
if shareholders’ approval is necessary or desirable to comply with any Applicable Law, including without limitation the securities
laws of jurisdictions applicable to Options granted to Participants under this Plan, or if shareholders’ approval is required by
any authority or by any governmental agency or by any national securities exchange, including without limitation the US Securities and
Exchange Commission.

 

18.3.        Termination
of the Plan shall not affect the Board’s ability to exercise the powers granted to it hereunder with respect to Options granted
under the Plan prior to the date of such termination.

 

19.    Successors
and Assigns. The Plan and any Option granted thereafter shall be binding on all successors and assignees of the Company and a Participant,
including, without limitation, the estate of such Participant and the executor, administrator or trustee of such estate, or any receiver
or trustee in bankruptcy or representative of the Participant’s creditors.

 

20.    Miscellaneous

 

20.1.        Notices.
Notices and requests regarding this Plan shall be sent in writing by registered mail or by courier to the addresses of the Company and
the Participant as follows: if to the Company: at its principal offices; if to the Participant - to the Participant’s address, as
registered in the Company’s registries. Such notices shall be deemed received at the addressee as follows: if sent by registered
mail - within three (3) business days following their deposit for mailing at a post office located in the country of addressee, or
seven (7) business days following their deposit for mailing at a post office located outside the country of addressee, and if hand-delivered
- on the day of delivery (or refusal to receive).

 

    

    17

    

 

20.2.        This
Plan (together with the applicable Option Agreement(s) entered into with any Participant) constitutes the entire agreement and understanding
between the Company and such Participant in connection with the grant of Options to the Participant. Any representation and/or promise
and/or undertaking made and/or given by the Company or by whosoever on its behalf, which has not been explicitly expressed herein or in
an Option Agreement, shall have no force and effect.

 

21.   Governing
Law. The Plan shall be governed by, construed and enforced in accordance with the laws of the State of Israel, without giving effect
to principles of conflicts of law. The competent courts of Tel Aviv-Jaffa shall have exclusive jurisdiction to hear all disputes arising
in connection with this Plan.

 

* * * * *Exhibit
10.4

 

 

 

 

 

monday.com
Ltd. 

2021
Share Incentive
Plan

 

 

 

Unless
otherwise defined, terms used herein shall have the meaning ascribed to them in Section 2 hereof.

 

1.            PURPOSE;
TYPES OF AWARDS; CONSTRUCTION.

 

1.1.                                   
Purpose. The purpose of this 2021 Share Incentive Plan (as amended, this “Plan”) is to afford an incentive
to Service Providers of monday.com Ltd., an Israeli company (together with any successor corporation thereto, the “Company”),
or any Affiliate of the Company, which now exists or hereafter is organized or acquired by the Company or its Affiliates, to continue
as Service Providers, to increase their efforts on behalf of the Company or its Affiliates and to promote the success of the Company’s
business, by providing such Service Providers with opportunities to acquire a proprietary interest in the Company by the issuance
of Shares or restricted Shares (“Restricted Shares”) of the Company, Options, Restricted Share Units (“RSUs”),
share appreciation rights and other Share-based Awards pursuant to Sections 11 through 13 of this Plan.

 

1.2.                                   
Types
of Awards. This Plan is intended to enable the Company to issue Awards under various tax regimes, including:

 

(i)
           pursuant and subject to the provisions of Section 102 of the Ordinance (or
the corresponding provision of any subsequently enacted statute, as amended from time to time), and all regulations and interpretations
adopted by any competent authority, including the Israel Tax Authority (the “ITA”), including the Income Tax
Rules (Tax Benefits in Stock Issuance to Employees) 5763-2003 or such other rules so adopted from time to time (the “Rules”)
(such Awards that are intended to be (as set forth in the Award Agreement) and which qualify as such under Section 102 of the
Ordinance and the Rules, “102 Awards”);

 

(ii)          pursuant
to Section 3(i) of the Ordinance or the corresponding provision of any subsequently enacted statute, as amended from time to time
(such Awards, “3(i) Awards”);

 

(iii)
         Incentive Stock Options within the meaning of Section 422 of the Code, or the corresponding
provision of any subsequently enacted United States federal tax statute, as amended from time to time, to be granted to Employees
who are deemed to be residents of the United States, for purposes of taxation, or are otherwise subject to U.S. Federal income
tax (such Awards that are intended to be (as set forth in the Award Agreement) and which qualify as an incentive stock option
within the meaning of Section 422(b) of the Code, “Incentive Stock Options”);

 

(iv)         Options
not intended to be (as set forth in the Award Agreement) or which do not qualify as Incentive Stock Options (“Nonqualified
Stock Options”)

 

(v)          Share
appreciation rights; and

 

(vi)         Restricted
Shares, RSUs and other forms of Share-based Awards.

 

In
addition to the issuance of Awards under the relevant tax regimes in the United States of America and the State of Israel, and
without derogating from the generality of Section 24, this Plan contemplates issuances to Grantees in other jurisdictions or under
other tax regimes with respect to which the Committee is empowered, but is not required, to make the requisite adjustments in
this Plan, to adopt sub-plans under this Plan and/or to set forth the relevant conditions in an appendix to this Plan or in the
Company’s agreement with the Grantee in order to comply with Applicable Law of such other jurisdictions or the requirements
of such other tax regimes.

 

     

     

    

1.3.                              
      Construction. To the extent any provision herein conflicts with the conditions of any
relevant tax law, rule or regulation which are relied upon for tax relief in respect of a particular Award to a Grantee, the
Committee is empowered, but is not required, hereunder to determine that the provisions of such law, rule or regulation shall
prevail over those of this Plan and to interpret and enforce such prevailing provisions. With respect to 102 Awards, if and
to the extent any action or the exercise or application of any provision hereof or authority granted hereby is conditioned or
subject to obtaining a ruling or tax determination from the ITA, to the extent required by Applicable Law, then the taking of
any such action or the exercise or application of such section or authority with respect to 102 Awards shall be conditioned
upon obtaining such ruling or tax determination, and, if obtained, shall be subject to any condition set forth therein; it
being clarified that there is no obligation to apply for any such ruling or tax determination (which shall be in the sole
discretion of the Committee) and no assurance is made that if applied any such ruling or tax determination will be obtained
(or the conditions thereof).

 

2.            DEFINITIONS.

 

2.1.                               
     Terms Generally. Except when otherwise indicated by the context, (i) the singular shall include the
plural and the plural shall include the singular; (ii) any pronoun shall include the corresponding masculine, feminine and
neuter forms; (iii) any definition of or reference to any agreement, instrument or other document herein shall be construed
as referring to such agreement, instrument or other document as from time to time amended, restated, supplemented
or otherwise modified (subject to any restrictions on such amendments, restatements, supplements or modifications set forth
therein or herein), (iv) references to any law, constitution, statute, treaty, regulation, rule or ordinance, including any
section or other part thereof shall refer to it as amended from time to time and shall include any successor thereof, (v)
reference to a “company” or “entity” shall include a, partnership, corporation, limited liability
company, association, trust, unincorporated organization, or a government or agency or political subdivision thereof, and
reference to a “person” shall mean any of the foregoing or an individual, (vi) the words “herein”,
 “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Plan in
its entirety, and not to any particular provision hereof, (vii) all references herein to Sections shall be construed to refer
to Sections to this Plan; (viii) the words “include”, “includes” and “including” shall be
deemed to be followed by the phrase “without limitation”; and (ix) use of the term “or” is not
intended to be exclusive.

 

2.2.                              
      Defined Terms. The following terms shall have the meanings ascribed to them in this Section
2:

 

2.3.                               
     “Affiliate” shall mean, (i) with respect to any person, any other person that, directly
or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such person
(with the term “control” or “controlled by” within the meaning of Rule 405 of Regulation C under the
Securities Act), including, without limitation, any Parent or Subsidiary, or (ii) Employer.

 

2.5.                              
     “Applicable Law” shall mean any applicable law, rule, regulation, statute,
pronouncement, policy, interpretation, judgment, order or decree of any federal, provincial, state or local governmental,
regulatory or adjudicative authority or agency, of any jurisdiction, and the rules and regulations of any stock exchange,
over-the-counter market or trading system on which the Company’s shares are then traded or listed.

 

2.6.                              
      “Award” shall mean any issuance of Shares or Restricted Shares, Options, RSUs,
share appreciation rights and other Share-based Awards granted under this Plan.

 

2.7.                               
     “Board” shall mean the Board of Directors of the Company.

 

2.8.                               
     “Change in Board Event” shall mean any time at which individuals who, as of the
Effective Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a
majority of the Board; provided, however, that any individual becoming a director subsequent to the Effective
Date whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a
majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of
the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a
result of an actual or threatened election contest with respect to the election or removal of directors or other actual or
threatened solicitation of proxies or consents by or on behalf of a Person other than the Board.

    2 

     

    

2.9.                                  
  “Code” shall mean the United States Internal Revenue Code of 1986, and any applicable regulations promulgated
thereunder, all as amended.

 

2.10.                                  “Committee”
shall mean a committee established or appointed by the Board to administer this Plan, subject to Section 3.1.

 

2.11.                                  “Companies
Law” shall mean the Israel Companies Law, 5759-1999, and the regulations promulgated thereunder, all as amended from
time to time.

 

2.12.                                  “Controlling
Shareholder” shall have the meaning set forth in Section 32(9) of the Ordinance.

 

2.13.                                  “Disability”
shall mean (i) the inability of a Grantee to engage in any substantial gainful activity or to perform the major duties of the
Grantee’s position with the Company or its Affiliates by reason of any medically determinable physical or mental impairment
which has lasted or can be expected to last for a continuous period of not less than 12 months (or such other period as determined
by the Committee), as determined by a qualified doctor acceptable to the Company, (ii) if applicable, a “permanent and total
disability” as defined in Section 22(e)(3) of the Code or Section 409A(a)(2)(c)(i) of the Code, as amended from time to
time, or (iii) as defined in a policy of the Company that the Committee deems applicable to this Plan, or that makes reference
to this Plan, for purposes of this definition.

 

2.14.                                  “Employee”
shall mean any person treated as an employee (including an officer or a director who is also treated as an employee) in the records
of the Company or any of its Affiliates (and in the case of 102 Awards, subject to Section 9.3 or in the case of Incentive Stock
Options, who is an employee for purposes of Section 422 of the Code); provided, however, that neither service as
a director nor payment of a director’s fee shall be sufficient to constitute employment for purposes of this Plan. The Company
shall determine in good faith and in the exercise of its discretion whether an individual has become or has ceased to be an Employee
and the effective date of such individual’s employment or termination of employment, as the case may be. For purposes of
a person’s rights, if any, under this Plan as of the time of the Company’s determination, all such determinations
by the Company shall be final, binding and conclusive, notwithstanding that the Company or any court of law or governmental agency
subsequently makes a contrary determination.

 

2.15.                                  “Employer”
means, for purpose of a 102 Trustee Award, the Company or an Affiliate, Subsidiary or Parent thereof, which is an “employing
company” within the meaning and subject to the conditions of Section 102(a) of the Ordinance.

 

2.16.                                  “employment”,
 “employed” and words of similar import shall be deemed to refer to the employment of Employees or to the services
of any other Service Provider, as the case may be.

 

2.17.                                  “Exchange
Act” shall mean the U.S. Securities Exchange Act of 1934, as amended, and all regulations, guidance and other interpretative
authority issued thereunder.

 

2.18.                                  “exercise,”
 “exercised” and words of similar import, when referring to an Award that does not require exercise or that
is settled upon vesting (such as may be the case with RSUs or Restricted Shares, if so determined in their terms), shall be deemed
to refer to the vesting of such an Award (regardless of whether or not the wording included reference to vesting of such an Awards
explicitly).

 

2.19.                                  “Exercise
Period” shall mean the period, commencing on the date of grant of an Award, during which an Award shall be exercisable,
subject to any vesting provisions thereof (including any acceleration thereof, if any) and subject to the termination provisions
hereof.

 

2.20.                                  “Exercise
Price” shall mean the exercise price for each Share covered by an Option or the purchase price for each Share covered
by any other Award.

 

2.21.                                  “Fair
Market Value” shall mean, as of any date, the value of a Share or other securities, property or rights as determined
by the Board, in its discretion, subject to the following: (i) if, on such date, the Shares are listed on any securities exchange,
the closing sales price per Share on the securities exchange on which the Shares are principally traded on such date, or if no
sale occurred on such date, the last day preceding such date on which a sale occurred, as reported in The Wall Street Journal
or such other source as the Company deems reliable; (ii) if, on such date, the Shares are then quoted in an over-the-counter market,
the average of the closing bid and asked prices for the Shares in that market on such date, or if there are no bid and asked prices
on such date, the last day preceding such date on which there are bid and asked prices, as reported in The Wall Street Journal
or such other source as the Company deems reliable; or (iii) if, on such date, the Shares are not then listed on a securities
exchange or quoted in an over-the-counter market, or in case of any other securities, property or rights, such value as the Committee,
in its sole discretion, shall determine, with full authority to determine the method for making such determination and which determination
shall be conclusive and binding on all parties, and shall be made after such consultations with outside legal, accounting and
other experts as the Committee may deem advisable; provided, however, that, if applicable, the Fair Market Value
of the Shares shall be determined in a manner that is intended to satisfy the applicable requirements of and subject to Section
409A of the Code, and with respect to Incentive Stock Options, in a manner that is intended to satisfy the applicable requirements
of and subject to Section 422 of the Code, subject to Section 422(c)(7) of the Code. The Committee shall maintain a written record
of its method of determining such value. If the Shares are listed or quoted on more than one established stock exchange or over-the-counter
market, the Committee shall determine the principal such exchange or market and utilize the price of the Shares on that exchange
or market (determined as per the method described in clauses (i) or (ii) above, as applicable) for the purpose of determining
Fair Market Value.

    3 

     

    

2.22.                                  “Grantee”
shall mean a person who has been granted an Award(s) under this Plan.

 

2.23.                                  “Option”
shall mean a grant of options to purchase Shares, including, for the avoidance of doubt, Incentive Stock Options and Nonqualified
Stock Options.

 

2.24.                                  “Ordinance”
shall mean the Israeli Income Tax Ordinance (New Version) 5271-1961, and the regulations and rules (including the Rules) promulgated
thereunder, all as amended from time to time.

 

2.25.                                  “Parent”
shall mean any company (other than the Company), which now exists or is hereafter organized, (i) in an unbroken chain of companies
ending with the Company if, at the time of granting an Award, each of the companies (other than the Company) owns stock possessing
fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other companies in such chain,
or (ii) if applicable and for purposes of Incentive Stock Options, that is a “parent corporation” of the Company,
as defined in Section 424(e) of the Code.

 

2.26.                                  “Retirement”
shall mean a Grantee’s retirement pursuant to Applicable Law or in accordance with the terms of any tax-qualified retirement
plan maintained by the Company or any of its Affiliates in which the Grantee participates or is subject to.

 

2.27.                                  “Securities
Act” shall mean the U.S. Securities Act of 1933, and the rules and regulations promulgated thereunder, all as amended
from time to time.

 

2.28.                                  “Service
Provider” shall mean an Employee, director, officer, consultant, advisor and any other person, who provides services
to the Company or any Parent, Subsidiary or other Affiliate thereof. Service Providers shall include prospective Service Providers
to whom Awards are granted in connection with written offers of an employment or other service relationship with the Company or
any Parent, Subsidiary or any other Affiliates thereof, provided, however, that such employment or service shall
have actually commenced. Notwithstanding the foregoing, unless otherwise determined by the Committee, each Service Provider shall
be an “employee” as defined in the General Instructions to Form S-8 Registration Statement under the Securities Act
(or any successor form thereto) at the time the Award is granted to the Service Provider.

 

2.29.                                  “Share(s)”
shall mean Ordinary Share(s), of no par value, of the Company (including Ordinary Shares resulting or issued as a result of share
split, reverse share split, bonus shares, combination or other recapitalization events), or shares of such other class of shares
of the Company as shall be designated by the Board in respect of the relevant Award(s). “Shares” include any
securities or property issued or distributed with respect thereto.

 

2.30.                                  “Subsidiary” shall mean any company (other than the Company), which now exists or is hereafter organized or
acquired by the Company, (i) in an unbroken chain of companies beginning with the Company if, at the time of granting an Award,
each of the companies other than the last company in the unbroken chain owns stock possessing fifty percent (50%) or more of the
total combined voting power of all classes of stock in one of the other companies in such chain, or (ii) if applicable and for
purposes of Incentive Stock Options, that is a “subsidiary corporation” of the Company, as defined in Section 424(f)
of the Code.

    4 

     

    

2.31.                            
      “tax(es)” shall mean (a) all federal, state, local or foreign taxes,
charges, fees, imposts, levies or other assessments, including all income, capital gains, alternative or add-on minimum,
transfer, value added tax, real and personal property, withholding, payroll, employment, escheat, social security,
disability, national security, health tax, wealth surtax, stamp, registration and estimated taxes, customs duties, fees,
assessments and charges of any similar kind whatsoever (including under Section 280G of the Code) or other tax of any kind
whatsoever, (b) all interest, indexation differentials, penalties, fines, additions to tax or additional amounts imposed by
any taxing authority in connection with any item described in clause (a), (c) any transferee or successor liability in
respect of any items described in clauses (a) or (b) payable by reason of contract, assumption, transferee liability,
successor liability, operation of Applicable Law, or as a result of any express or implied obligation to assume Taxes or to
indemnify any other person, and (d) any liability for the payment of any amounts of the type described in clause (a) or (b)
payable as a result of being a member of an affiliated, consolidated, combined, unitary or aggregate or other group for any
taxable period, including under U.S. Treasury Regulations Section 1.1502-6(a) (or any predecessor or successor thereof of any
analogous or similar provision under Applicable Law) or otherwise.

 

2.32.                               
   “Ten Percent Shareholder” shall mean a Grantee who, at the time an Award is granted to the
Grantee, owns shares possessing more than ten percent (10%) of the total combined voting power of all classes of shares of
the Company or any Parent or Subsidiary, within the meaning of Section 422(b)(6) of the Code.

 

2.33.                             
     “Trustee” shall mean the trustee appointed by the Committee to hold the Awards
(and, in relation with 102 Trustee Awards, approved by the ITA), if so appointed.

 

2.34.                                  Other
Defined Terms. The following terms shall have the meanings ascribed to them in the Sections set forth below:

 

	Term	 	Section
	102 Awards	 	1.2(i)
	102 Capital Gains Track Awards	 	9.1
	102 Non-Trustee Awards	 	9.2
	102 Ordinary Income Track Awards	 	9.1
	102 Trustee Awards	 	9.1
	3(i) Awards	 	1.2(ii) 
	Award Agreement	 	6
	Cause	 	6.6.4.4
	Company	 	1.1
	Effective Date	 	24.1
	Election	 	9.2
	Eligible 102 Grantees	 	9.3.1
	Incentive Stock Options	 	1.2(iii) 
	Information	 	16.4
	ITA	 	1.1(i)
	Merger/Sale	 	14.2
	Nonqualified Stock Options	 	1.2(iv) 
	Plan	 	1.1
	Prior Plan(s)	 	5.2
	Pool	 	5.1
	Recapitalization	 	14.1
	Required Holding Period	 	9.5
	Restricted Period	 	11.2
	Restricted Share Agreement	 	11
	Restricted Share Unit Agreement	 	12
	Restricted Share	 	1.1
	RSUs	 	1.1
	Rules	 	1.1(i)
	Successor Corporation	 	14.2.1
	Withholding Obligations	 	17.5

    5 

     

    

3.           ADMINISTRATION.

 

3.1.                                   To the extent permitted under Applicable Law, the Company’s Amended and Restated Articles of Association (as may be amended
and supplemented from time to time, the “Articles of Association”) and any other governing document of the
Company, this Plan shall be administered by the Committee. In the event that the Board does not appoint or establish a committee
to administer this Plan, this Plan shall be administered by the Board and, accordingly, any and all references herein to the Committee
shall be construed as references to the Board. In the event that an action necessary for the administration of this Plan is required
under Applicable Law to be taken by the Board without the right of delegation, or if such action or power was explicitly reserved
by the Board in appointing, establishing and empowering the Committee, then such action shall be so taken by the Board. In any
such event, all references herein to the Committee shall be construed as references to the Board. Even if such a Committee was
appointed or established, the Board may take any actions that are stated to be vested in the Committee, and shall not be restricted
or limited from exercising all rights, powers and authorities under this Plan or Applicable Law. The Board shall appoint the members
of the Committee, may from time to time remove members from, or add members to, the Committee, and shall fill vacancies in the
Committee, however caused, provided that the composition of the Committee shall at all times be in compliance with any mandatory
requirements of Applicable Law, the Articles of Association and any other governing document of the Company. The Committee may
select one of its members as its Chairman and shall hold its meetings at such times and places as it shall determine. The Committee
may appoint a Secretary, who shall keep records of its meetings, and shall make such rules and regulations for the conduct of
its business as it shall deem advisable and subject to mandatory requirements of Applicable Law.

 

3.3.                                   Subject to the terms and conditions of this Plan, any mandatory provisions of Applicable Law and any provisions of any Company
policy required under mandatory provisions of Applicable Law, and in addition to the Committee’s powers contained elsewhere
in this Plan, the Committee shall have full authority, in its discretion, from time to time and at any time, to determine any
of the following, or to recommend to the Board any of the following if it is not authorized to take such action according to Applicable
Law:

 

(i)           eligible
Grantees,

 

(ii)
          grants of Awards and setting the terms and provisions of Award Agreements (which need
not be identical) and any other agreements or instruments under which Awards are made, including, the number of Shares underlying
each Award and the class of Shares underlying each Award (if more than one class was designated by the Board),

 

(iii)         the
time or times at which Awards shall be granted,

 

(iv)
         the terms, conditions and restrictions applicable to each Award (which need not be identical)
and any Shares acquired upon the exercise or (if applicable) vesting thereof, including, (1) designating Awards under Section
1.2; (2) the vesting schedule, the acceleration thereof and terms and conditions upon which Awards may be exercised or become
vested, (3) the Exercise Price, (4) the method of payment for Shares purchased upon the exercise or (if applicable) vesting of
the Awards, (5) the method for satisfaction of any tax withholding obligation arising in connection with the Awards or such Shares,
including by the withholding or delivery of Shares, (6) the time of the expiration of the Awards, (7) the effect of the Grantee’s
termination of employment with the Company or any of its Affiliates, and (8) all other terms, conditions and restrictions applicable
to the Award or the Shares not inconsistent with the terms of this Plan,

 

(v)
          to accelerate, continue, extend or defer the exercisability of any Award or the vesting
thereof, including with respect to the period following a Grantee’s termination of employment or other service,

    6 

     

    

(vi)      
    the interpretation of this Plan and any Award Agreement and the meaning, interpretation and applicability
of terms referred to in Applicable Law,

 

(vii)     
    policies, guidelines, rules and regulations relating to and for carrying out this Plan, and any amendment,
supplement or rescission thereof, as it may deem appropriate,

 

(viii)
       to adopt supplements to, or alternative versions of, this Plan, including, without limitation, as it deems
necessary or desirable to comply with the laws of, or to accommodate the tax regime or custom of, foreign jurisdictions whose
citizens or residents may be granted Awards,

 

(ix)     
     the Fair Market Value of the Shares or other securities, property or rights,

 

(x)      
     the tax track (capital gains, ordinary income track or any other track available under the Section 102 of
the Ordinance) for the purpose of 102 Awards,

 

(xi)          the
authorization and approval of conversion, substitution, cancellation or suspension under and in accordance with this Plan of any
or all Awards or Shares,

 

(xii)         unless
otherwise provided under the terms of this Plan, the amendment, modification, waiver or supplement of the terms of any outstanding
Award (including reducing the Exercise Price of an Award), provided, however, that if such amendments increase the Exercise Price
of an Award or reduce the number of Shares underlying an Award, then such amendments shall require the consent of the applicable
Grantee, unless such amendment is made pursuant to the exercise of rights or authorities in accordance with Sections 14 or 24,

 

(xiii)        without
limiting the generality of the foregoing, and subject to the provisions of Applicable Law, to grant to a Grantee, who is the holder
of an outstanding Award, in exchange for the cancellation of such Award, a new Award having an Exercise Price lower than that
provided in the Award so canceled and containing such other terms and conditions as the Committee may prescribe in accordance
with the provisions of this Plan or to set a new Exercise Price for the same Award lower than that previously provided in the
Award, in each case, without the consent of the Company’s shareholders,

 

(xiv)     
   to correct any defect, supply any omission or reconcile any inconsistency in this Plan or any Award Agreement and
all other determinations and take such other actions with respect to this Plan or any Award as it may deem advisable to the
extent not inconsistent with the provisions of this Plan or Applicable Law, and

 

(xv)    
     any other matter which is necessary or desirable for, or incidental to, the administration of this
Plan and any Award thereunder.

 

3.4.                                   
The authority granted hereunder includes the authority to modify Awards to eligible individuals who are foreign nationals or
are individuals who are employed outside the State of Israel or the United States of America, to recognize differences in
local law, tax policy or custom, in order to effectuate the purposes of this Plan but without amending this Plan.

 

3.5.                                   
The Board and the Committee shall be free at all times to make such determinations and take such actions as they deem fit. The
Board and the Committee need not take the same action or determination with respect to all Awards, with respect to certain types
of Awards, with respect to all Service Providers or any certain type of Service Providers and actions and determinations may differ
as among the Grantees, and as between the Grantees and any other holders of securities of the Company.

 

3.6.                                   
All decisions, determinations, and interpretations of the Committee, the Board and the Company under this Plan shall be
final and binding on all Grantees (whether before or after the issuance of Shares pursuant to Awards), unless otherwise
determined by the Committee, the Board or the Company, respectively. The Committee shall have the authority (but not the
obligation) to determine the interpretation and applicability of Applicable Law to any Grantee or any Awards. No member of
the Committee or the Board shall be liable to any Grantee for any action taken or determination made in good faith with
respect to this Plan or any Award granted hereunder.

    7 

     

    

3.7.                                   
Any officer or authorized signatory of the Company shall have the authority to act on behalf of the Company with respect to any
matter, right, obligation, determination or election which is the responsibility of or which is allocated to the Company herein,
provided such person has apparent authority with respect to such matter, right, obligation, determination or election. Such person
or authorized signatory shall not be liable to any Grantee for any action taken or determination made in good faith with respect
to this Plan or any Award granted hereunder.

 

4.        
    ELIGIBILITY.

 

Awards
may be granted to Service Providers of the Company or any Affiliate thereof, taking into account, at the Committee’s discretion
and without an obligation to do so, the qualification under each tax regime pursuant to which such Awards are granted, subject
to the limitation on the granting of Incentive Stock Options set forth in Section 8.1. A person who has been granted an Award
hereunder may be granted additional Awards, if the Committee shall so determine, subject to the limitations herein. However, eligibility
in accordance with this Section 4 shall not entitle any person to be granted an Award, or, having been granted an Award, to be
granted an additional Award.

 

Awards
may differ in number of Shares covered thereby, the terms and conditions applying to them or on the Grantees or in any other respect
(including, that there should not be any expectation (and it is hereby disclaimed) that a certain treatment, interpretation or
position granted to one shall be applied to the other, regardless of whether or not the facts or circumstances are the same or
similar).

 

5.      
      SHARES.

 

5.1.                                   
The maximum aggregate number of Shares that may be issued pursuant to Awards under this Plan (the “Pool”) shall
be the sum of (a) 5,134,853 Shares plus (and without the need to further amend the Plan) plus (b) on January 1st,
2022 and on January 1st of each calendar year thereafter through and including January 1,
2031, a number of Shares equal to the lesser of: (i) five percent (5%) of the total number of Shares outstanding as of the end
of the last day of the immediately preceding calendar year, and (ii) such smaller amount of Shares as is determined by the Board,
if so determined prior to the January 1st of the calendar year in which the increase will
occur (in each case, without the need to amend the Plan in case of such determination); plus (c) any Shares underlying awards
under the Prior Plans as of the Effective Date which, following the Effective Date, become available for issuance under the Plan
pursuant to Section 5.2 below, in all events subject to adjustment as provided in Section 14.1. Notwithstanding the foregoing,
the total number of Shares that may be issued pursuant to Incentive Stock Options granted under this Plan shall be 6,000,000,
subject to adjustment as provided in Section 14.1. The Board may, at its discretion, reduce the number of Shares that may be issued
pursuant to Awards under this Plan, at any time (provided that such reduction does not derogate from any issuance of Shares in
respect of Awards then outstanding).

 

5.2.                                   
Any Shares (a) underlying an Award granted hereunder or an award granted under the Company’s 2013 Option Plan or 2017 Share
Incentive Plan, each as amended (the “Prior Plan(s)”) that has expired, or was cancelled, terminated, forfeited,
or settled in cash in lieu of issuance of Shares, for any reason, without having been exercised; (b) if permitted by the Company,
tendered to pay the Exercise Price of an Award (or the exercise price or other purchase price of any option or other award under
the Prior Plan(s)), or withholding tax obligations with respect to an Award (or any awards under the Prior Plan(s)); or (c) if
permitted by the Company, subject to an Award (or any award under the Prior Plan(s)) that are not delivered to a Grantee because
such Shares are withheld to pay the Exercise Price of such Award (or any award under the Prior Plan(s)), or withholding tax obligations
with respect to such Award (or such other award); shall automatically, and without any further action on the part of the Company
or any Grantee, again be available for grant of Awards and for issuance upon exercise or (if applicable) vesting thereof for the
purposes of this Plan (unless this Plan shall have been terminated), unless the Board determines otherwise. Such Shares may be,
in whole or in part, authorized but unissued Shares, (and, subject to obtaining a ruling as it applies to 102 Awards) treasury
shares (dormant shares) or otherwise Shares that shall have been or may be repurchased by the Company (to the extent permitted
pursuant to the Companies Law).

    8 

     

    

5.3.                                   
Unless determined otherwise by the Board or Committee, any Shares under the Pool that are not subject to outstanding or exercised
Awards at the termination of this Plan shall cease to be reserved for the purpose of this Plan.

 

5.4.                                   
From and after the Effective Date, no further grants or awards shall be made under the Prior Plan(s); however, Awards made under
the Prior Plan(s) before the Effective Date shall continue in effect in accordance with their terms.

 

6.           TERMS
AND CONDITIONS OF AWARDS.

 

Each
Award granted pursuant to this Plan shall be evidenced by a written or electronic agreement between the Company and the Grantee
or a written or electronic notice delivered by the Company (the “Award Agreement”), in substantially such form
or forms and containing such terms and conditions, as the Committee shall from time to time approve. The Award Agreement shall
comply with and be subject to the following general terms and conditions and the provisions of this Plan (except for any provisions
applying to Awards under different tax regimes), unless otherwise specifically provided in such Award Agreement, or the terms
referred to in other Sections of this Plan applying to Awards under such applicable tax regimes, or terms prescribed by Applicable
Law. Award Agreements need not be in the same form and may differ in the terms and conditions included therein.

 

6.1.                                   
Number of Shares. Each Award Agreement shall state the number of Shares covered by the Award.

 

6.2.                                   
Type of Award. Each Award Agreement may state the type of Award granted thereunder, provided that the tax treatment of
any Award, whether or not stated in the Award Agreement, shall be as determined in accordance with Applicable Law.

 

6.3.                                   
Exercise Price. Each Award Agreement shall state the Exercise Price, if applicable. Unless otherwise set forth in this
Plan, an Exercise Price of an Award of less than the par value of the Shares (if shares bear a par value) shall comply with Section
304 of the Companies Law. Subject to Sections 3, 7.2 and 8.2 and to the foregoing, the Committee may, without the consent of the
Company’s shareholders, reduce the Exercise Price of any outstanding Award, on terms and subject to such conditions as it
deems advisable. The Exercise Price shall also be subject to adjustment as provided in Section 14 hereof. The Exercise Price of
any Award granted to a Grantee who is subject to U.S. federal income tax shall be determined in accordance with Section 409A of
the Code.

 

6.4.                                    Manner
of Exercise.

 

6.4.1
       An Award may be exercised, as to any or all Shares as to which the Award has become exercisable,
(a) by written notice delivered in person or by mail (or such other methods of delivery prescribed by the Company) to the Stock
Administrator/Manager of the Company or, if no such role is then incumbent, to the Chief Financial Officer of the Company or to
such other person as determined by the Committee, (b) by way of an exercise order submitted via the online service operated and
maintained by the Company or any of its service providers, or (c) or in any other manner as the Committee shall prescribe from
time to time, specifying the number of Shares with respect to which the Award is being exercised (which may be equal to or lower
than the aggregate number of Shares that have become exercisable at such time, subject to the last sentence of this Section),
accompanied by payment of the aggregate Exercise Price for such Shares in the manner specified in the following sentence. The
Exercise Price shall be paid in full with respect to each Share, at the time of exercise and as a condition therefor, either (i)
in cash, (ii) if the Company’s shares are listed for trading on any securities exchange or over-the-counter market, and
if the Committee so determines, all or part of the Exercise Price and any withholding taxes may be paid by the delivery (on a
form prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and
to deliver all or part of the sales proceeds to the Company or the Trustee, (iii) if the Company’s shares are listed for
trading on any securities exchange or over-the-counter market, and if the Committee so determines, all or part of the Exercise
Price and any withholding taxes may be paid by the delivery (on a form prescribed by the Company) of an irrevocable direction
to pledge Shares to a securities broker or lender approved by the Company, as security for a loan, and to deliver all or part
of the loan proceeds to the Company or the Trustee, (iv) by applying the Cashless Exercise Mechanism set forth in Section 6.4.3
below, or (v) in such other manner as the Committee shall determine, which may include procedures for cashless exercise.

    9 

     

    

6.4.2    
    The application of Cashless Exercise Mechanism with respect to any 102 Awards shall be subject to obtaining
a ruling from the ITA, to the extent required by Applicable Law.

 

6.4.3   
     Unless otherwise determined by the Committee, any and all Options (other than Incentive Stock
Options) may be exercised using a cashless exercise mechanism, in which case the number of the Shares to be issued by the
Company upon such exercise shall be calculated pursuant to the following formula (the “Cashless Exercise
Mechanism”):

 

X
= Y * (A – B)

A

 

	Where:   	X
                                         =	the
                                         number of Shares to be issued to the Grantee.

 

		Y =	the
                                         number of Shares, as adjusted to the date of such calculation, underlying the number
                                         of Options being exercised.

 

		A =	the
                                         fair market value, as determined in the tax ruling mentioned in Section 6.4.2 above,
                                         of one Share at the exercise date.

 

		B =	the
                                         Exercise Price of the Options being exercised.

 

 Upon
the completion of the calculation, if X is a negative number, then X shall be deemed to equal 0 (zero).

 

6.5.                                    Term
and Vesting of Awards.

 

6.5.1   
     Each Award Agreement shall provide the vesting schedule for the Award as determined by the Committee. The
Committee shall have the authority to determine the vesting schedule and accelerate the vesting of any outstanding Award at
such time and under such circumstances as it, in its sole discretion, deems appropriate. Unless otherwise resolved by the
Committee and stated in the Award Agreement, and subject to Sections 6.6 and 6.7 hereof, Awards shall vest and become
exercisable under the following schedule: twenty-five percent (25%) of the Shares covered by the Award, on the first
anniversary of the vesting commencement date determined by the Committee (and in the absence of such determination, of date
on which such Award was granted), and six and one-quarter percent (6.25%) of the Shares covered by the Award at the end of
each subsequent three-month period thereafter over the course of the following three (3) years; provided that the Grantee
remains continuously as a Service Provider of the Company or its Affiliates throughout such vesting dates.

 

6.5.2  
      The Award Agreement may contain performance goals and measurements (which, in case of 102 Trustee
Awards, may, if then required, be subject to obtaining a specific tax ruling or determination from the ITA), and the
provisions with respect to any Award need not be the same as the provisions with respect to any other Award. Such performance
goals may include, but are not limited to, revenues, sales, operating income, earnings before interest and taxes, return on
investment, earnings per share, any combination of the foregoing or rate of growth of any of the foregoing, as determined by
the Committee. The Committee may adjust performance goals pursuant to Awards previously granted to take into account changes
in law and accounting and tax rules and to make such adjustments as the Committee deems necessary or appropriate to reflect
the inclusion or the exclusion of the impact of extraordinary or unusual items, events or circumstances.

 

6.5.3   
     The Exercise Period of an Award will be ten (10) years from the date of grant of the Award, unless
otherwise determined by the Committee and stated in the Award Agreement, but subject to the vesting provisions described
above and the early termination provisions set forth in Sections 6.6 and 6.7 hereof. At the expiration of the Exercise
Period, any Award, or any part thereof, that has not been exercised within the term of the Award and the Shares covered
thereby not paid for in accordance with this Plan and the Award Agreement shall terminate and become null and void, and all
interests and rights of the Grantee in and to the same shall expire.

    10 

     

    

6.6.
                                    Termination.

 

6.6.1   
    Unless otherwise determined by the Committee, and subject to this Section 6.6 and Section 6.7 hereof, an Award
may not be exercised unless the Grantee was, since the date of grant of the Award throughout the vesting dates, and is then
(at the time of exercise), a Service Provider.

 

6.6.2   
    In the event that the employment or service of a Grantee shall terminate (other than by reason of death,
Disability or Retirement), such that Grantee is no longer a Service Provider, all Awards of such Grantee that are unvested at
the time of such termination shall terminate on the date of such termination, and all Awards of such Grantee that are vested
and exercisable at the time of such termination may be exercised within up to three (3) months after the date of such
termination (or such different period as the Committee shall prescribe, in general or on a case-by-case basis), but in any
event no later than the date of expiration of the Award’s term as set forth in the Award Agreement or pursuant to this
Plan; provided, however, that if the Company (or its Subsidiary or other Affiliate thereof, as applicable)
shall have terminated the Grantee’s employment or service for Cause (as defined below) (whether the facts or
circumstances that constitute such Cause occur prior to or after termination of employment or service), or if facts or
circumstances arise or are discovered with respect to the Grantee that would have constituted Cause, then all Awards
theretofore granted to such Grantee (whether vested or not) shall terminate and be subject to recoupment by the Company on
the date of such termination (or on such subsequent date on which such facts or circumstances arise or are discovered, as the
case may be) unless otherwise determined by the Committee, and any Shares issued upon exercise or (if applicable) vesting of
Awards (including other Shares or securities issued or distributed with respect thereto, and including the gross amount of
any proceeds, gains or other economic benefit the Grantee actually or constructively receives upon receipt or exercise of any
Award or the receipt or resale of any Shares underlying the Award), whether held by the Grantee or by the Trustee for the
Grantee’s benefit, shall be deemed to be irrevocably offered for sale to the Company, any of its Affiliates or
any person designated by the Company to purchase, at the Company’s election and subject to Applicable Law, either for
no consideration, for the par value of such Shares (if such Shares bear a par value) or against payment of the Exercise Price
previously received by the Company for such Shares upon their issuance, as the Committee deems fit, upon written notice to
the Grantee at any time prior to, at or after the Grantee’s termination of employment or service. Such Shares or other
securities shall be sold and transferred within 30 days from the date of the Company’s notice of its election to
exercise its right. If the Grantee fails to transfer such Shares or other securities to the Company, the Company, at the
decision of the Committee, shall be entitled to forfeit or repurchase such Shares and to authorize any person to execute on
behalf of the Grantee any document necessary to effect such transfer, whether or not the share certificates are surrendered.
The Company shall have the right and authority to effect the above either by: (i) repurchasing all of such Shares or other
securities held by the Grantee or by the Trustee for the benefit of the Grantee, or designate the purchaser of all or any
part of such Shares or other securities, for the Exercise Price paid for such Shares, the par value of such Shares (if such
Shares bear a par value) or for no payment or consideration whatsoever, as the Committee deems fit; (ii) forfeiting all or
any part of such Shares or other securities; (iii) redeeming all or any part of such Shares or other securities, for the
Exercise Price paid for such Shares, the par value of such Shares (if such Shares bear a par value) or for no payment or
consideration whatsoever, as the Committee deems fit; (iv) taking action in order to have all or any part of such Shares or
other securities converted into deferred shares entitling their holder only to their par value (if such Shares bear a par
value) upon liquidation of the Company; or (v) taking any other action which may be required in order to achieve similar
results; all as shall be determined by the Committee, at its sole and absolute discretion, and the Grantee is deemed to
irrevocably empower the Company or any person which may be designated by it to take any action by, in the name of or on
behalf of the Grantee to comply with and give effect to such actions (including, voting such shares, filling in, signing and
delivering share transfer deeds, etc.).

    11 

     

    

6.6.3  
     Notwithstanding anything to the contrary, the Committee, in its absolute discretion, may, on such
terms and conditions as it may determine appropriate, extend the periods for which Awards held by any Grantee may continue to
vest and be exercisable; it being clarified that such Awards may lose their entitlement to certain tax benefits under
Applicable Law (including, without limitation, qualification of an Award as an Incentive Stock Option) as a result of the
modification of such Awards and/or in the event that the Award is exercised beyond the later of: (i) three (3) months after
the date of termination of the employment or service relationship; or (ii) the applicable period under Section 6.7 below with
respect to a termination of the employment or service relationship because of the death, Disability or Retirement of
Grantee.

 

6.6.4    
   For purposes of this Plan:

 

6.6.4.1.      
A termination of employment or service relationship of a Grantee shall not be deemed to occur (except to the extent required by
the Code with respect to the Incentive Stock Option status of an Option) in case of (i) a transition or transfer of a Grantee
among the Company and its Affiliates, (ii) a change in the capacity in which the Grantee is employed or renders service to the
Company or any of its Affiliates or a change in the identity of the employing or engagement entity among the Company and its Affiliates,
provided, in case of the foregoing clauses (i) and (ii) above, that the Grantee has remained continuously employed by and/or
in the service of the Company and its Affiliates since the date of grant of the Award and throughout the vesting period; or (iii)
if the Grantee takes any unpaid leave as set forth in Section 6.8 below.

 

6.6.4.2.
      An entity or an Affiliate thereof assuming an Award or issuing in substitution thereof in a transaction to which Section 424(a)
of the Code applies or in a Merger/Sale in accordance with Section 14 shall be deemed as an Affiliate of the Company for purposes
of this Section 6.6, unless the Committee determines otherwise.

 

6.6.4.3.
       In the case of a Grantee whose principal employer or service recipient is a Subsidiary or other Affiliate thereof, the Grantee’s
employment or service relationship shall also be deemed terminated for purposes of this Section 6.6 as of the date on which such
principal employer or service recipient ceases to be a Subsidiary or other Affiliate thereof.

 

6.6.4.4.
       The term “Cause” shall mean (irrespective of, and in addition to, any definition included in any other agreement
or instrument applicable to the Grantee, and unless otherwise determined by the Committee) any of the following: (i) any theft,
fraud, embezzlement, dishonesty, willful misconduct, breach of fiduciary duty for personal profit, falsification of any documents
or records of the Company or any of its Affiliates, felony or similar act by the Grantee (whether or not related to the Grantee’s
relationship with the Company); (ii) an act of moral turpitude by the Grantee, or any act that causes significant injury to, or
is otherwise adversely affecting, the reputation, business, assets, operations or business relationship of the Company (or a Subsidiary
or other Affiliate thereof, when applicable); (iii) any breach by the Grantee of any material agreement with or of any material
duty of the Grantee to the Company or any Subsidiary or other Affiliate thereof (including breach of confidentiality, non-disclosure,
non-use non-competition or non-solicitation covenants towards the Company or any of its Affiliates) or failure to abide by code
of conduct or other policies (including, without limitation, policies relating to confidentiality and reasonable workplace conduct);
(iv) any act which constitutes a breach of a Grantee’s fiduciary duty towards the Company or a Subsidiary or other Affiliate
thereof, including disclosure of confidential or proprietary information thereof or acceptance or solicitation to receive unauthorized
or undisclosed benefits, irrespective of their nature, or funds, or promises to receive either, from individuals, consultants
or corporate entities with whom the Company or a Subsidiary or other Affiliate thereof conducts business; (v) the Grantee’s
unauthorized use, misappropriation, destruction, or diversion of any tangible or intangible asset or corporate opportunity of
the Company or any of its Affiliates (including, without limitation, the improper use or disclosure of confidential or
proprietary information); or (vi) any circumstances that constitute grounds for termination for cause under the Grantee’s
employment or service agreement with the Company or Affiliate, to the extent applicable. For the avoidance of doubt, the determination
as to whether a termination is for Cause for purposes of this Plan, shall be made in good faith by the Committee and shall be
final and binding on the Grantee.

    12 

     

    

6.7.                                    Death, Disability or Retirement of Grantee.

 

6.7.1       If
a Grantee shall die while employed by, or performing service for, the Company or any of its Affiliates, or within the three (3)
month period (or such longer period of time as determined by the Board, in its discretion) after the date of termination of such
Grantee’s employment or service (or within such different period as the Committee may have provided pursuant to Section
6.6 hereof), or if the Grantee’s employment or service with the Company or any of its Affiliates shall terminate by reason
of Disability, all Awards theretofore granted to such Grantee may (to the extent otherwise vested and exercisable and unless earlier
terminated in accordance with their terms) be exercised by the Grantee or by the Grantee’s estate or by a person who acquired
the legal right to exercise such Awards by bequest or inheritance, or by a person who acquired the legal right to exercise such
Awards in accordance with applicable law in the case of Disability of the Grantee, as the case may be, at any time within one
(1) year (or such longer period of time as determined by the Committee, in its discretion) after the death or Disability of the
Grantee (or such different period as the Committee shall prescribe), but in any event no later than the date of expiration of
the Award’s term as set forth in the Award Agreement or pursuant to this Plan. In the event that an Award granted hereunder
shall be exercised as set forth above by any person other than the Grantee, written notice of such exercise shall be accompanied
by a certified copy of letters testamentary or proof satisfactory to the Committee of the right of such person to exercise such
Award.

 

6.7.2  
     In the event that the employment or service of a Grantee shall terminate on account of such
Grantee’s Retirement, all Awards of such Grantee that are exercisable at the time of such Retirement may, unless
earlier terminated in accordance with their terms, be exercised at any time within the three (3) month period after the date
of such Retirement (or such different period as the Committee shall prescribe).

 

6.8.                                   
Suspension of Vesting. Unless the Committee provides otherwise, vesting of Awards granted hereunder shall be suspended
during any unpaid leave of absence, other than in the case of any (i) leave of absence which was pre-approved by the Company explicitly
for purposes of continuing the vesting of Awards, or (ii) transfers between locations of the Company or any of its Affiliates,
or between the Company and any of its Affiliates, or any respective successor thereof. For clarity, for purposes of this Plan,
military leave, statutory maternity or paternity leave or sick leave are not deemed unpaid leave of absence, unless otherwise
determined by the Committee.

 

6.9.                                   
Securities Law Restrictions. Except as otherwise provided in the applicable Award Agreement or other agreement between
the Service Provider and the Company, if the exercise of an Award following the termination of the Service Provider’s employment
or service (other than for Cause) would be prohibited at any time solely because the issuance of Shares would violate the registration
requirements under the Securities Act or equivalent requirements under equivalent laws of other applicable jurisdictions, then
the Award shall remain exercisable and terminate on the earlier of (i) the expiration of a period of three (3) months (or such
longer period of time as determined by the Committee, in its discretion) after the termination of the Service Provider’s
employment or service during which the exercise of the Award would not be in such violation, or (ii) the expiration of the term
of the Award as set forth in the Award Agreement or pursuant to this Plan. In addition, unless otherwise provided in a Grantee’s
Award Agreement, if the sale of any Shares received upon exercise or (if applicable) vesting of an Award following the termination
of the Grantee’s employment or service (other than for Cause) would violate the Company’s insider trading policy,
then the Award shall terminate on the earlier of (i) the expiration of a period equal to the applicable post-termination exercise
period after the termination of the Grantee’s employment or service during which the exercise of the Award would not be
in violation of the Company’s insider trading policy, or (ii) the expiration of the term of the Award as set forth in the
applicable Award Agreement or pursuant to this Plan.

    13 

     

    

6.10.                                 
Other Provisions. The Award Agreement evidencing Awards under this Plan shall contain such other terms and conditions not
inconsistent with this Plan as the Committee may determine, at or after the date of grant, including provisions in connection
with the restrictions on transferring the Awards or Shares covered by such Awards, which shall be binding upon the Grantees and
any purchaser, assignee or transferee of any Awards, and other terms and conditions as the Committee shall deem appropriate.

 

7.       
     NONQUALIFIED STOCK OPTIONS.

 

Awards
granted pursuant to this Section 7 are intended to constitute Nonqualified Stock Options and shall be subject to the general terms
and conditions specified in Section 6 hereof and other provisions of this Plan, except for any provisions of this Plan applying
to Awards under different tax laws or regulations. In the event of any inconsistency or contradictions between the provisions
of this Section 7 and the other terms of this Plan, this Section 7 shall prevail.

 

7.1.                                   
Certain Limitations on Eligibility for Nonqualified Stock Options. Nonqualified Stock Options may not be granted to a Service
Provider who is deemed to be a resident of the United States for purposes of taxation or who is otherwise subject to United States
federal income tax unless the Shares underlying such Options constitute “service recipient stock” under Section 409A
of the Code or unless such Options comply with the payment requirements of Section 409A of the Code.

 

7.2.                                   
Exercise Price. The Exercise Price of a Nonqualified Stock Option shall not be less than 100% of the Fair Market Value
of a Share on the date of grant of such Option unless the Committee specifically indicates that the Awards will have a lower Exercise
Price and the Award complies with Section 409A of the Code. Notwithstanding the foregoing, a Nonqualified Stock Option may be
granted with an exercise price lower than the minimum exercise price set forth above if such Award is granted pursuant to an assumption
or substitution for another option in a manner qualifying under the provisions of that complies with Section 424(a) of the Code
1.409A-1(b)(5)(v)(D) of the U.S. Treasury Regulations or any successor guidance.

 

8.       
     INCENTIVE STOCK OPTIONS.

 

Awards
granted pursuant to this Section 8 are intended to constitute Incentive Stock Options and shall be granted subject to the following
special terms and conditions, the general terms and conditions specified in Section 6 hereof and other provisions of this Plan,
except for any provisions of this Plan applying to Awards under different tax laws or regulations. In the event of any inconsistency
or contradictions between the provisions of this Section 8 and the other terms of this Plan, this Section 8 shall prevail. However,
if for any reason any Award granted pursuant to this Section 78 (or portion thereof) does not qualify as an Incentive Stock Option,
then, to the extent of such non-qualification, such Option (or portion thereof) shall be regarded as a Nonqualified Stock Option
granted under this Plan. In no event will the Board, the Company or any Parent or Subsidiary or any of their respective employees
or directors have any liability to Grantee (or any other person) due to the failure of the Option to qualify for any reason as
an Incentive Stock Option.

 

8.1.                                   
Eligibility for Incentive Stock Options. Incentive Stock Options may be granted only to Employees of the Company, or to
Employees of a Parent or Subsidiary, determined as of the date of grant of such Options. An Incentive Stock Option granted to
a prospective Employee upon the condition that such person become an Employee shall be deemed granted effective on the date such
person commences employment, with an exercise price determined as of such date in accordance with Section 8.2.

 

8.2.                                   
Exercise Price. The Exercise Price of an Incentive Stock Option shall not be less than one hundred percent (100%) of the
Fair Market Value of the Shares covered by the Awards on the date of grant of such Option or such other price as may be determined
pursuant to the Code. Notwithstanding the foregoing, an Incentive Stock Option may be granted with an exercise price lower than
the minimum exercise price set forth above if such Award is granted pursuant to an assumption or substitution for another option
in a manner that complies with the provisions of Section 424(a) of the Code.

    14 

     

    

8.3.                                   
Date of Grant. Notwithstanding any other provision of this Plan to the contrary, no Incentive Stock Option may be granted
under this Plan after 10 years from the date this Plan is adopted, or the date this Plan is approved by the shareholders, whichever
is earlier.

 

8.4.                                   
Exercise Period. No Incentive Stock Option shall be exercisable after the expiration of ten (10) years after the effective
date of grant of such Award, subject to Section 8.6. No Incentive Stock Option granted to a prospective Employee may become exercisable
prior to the date on which such person commences employment.

 

8.5.                                   
$100,000 Per Year Limitation. The aggregate Fair Market Value (determined as of the date the Incentive Stock Option is
granted) of the Shares with respect to which all Incentive Stock Options granted under this Plan and all other “incentive
stock option” plans of the Company, or of any Parent or Subsidiary, become exercisable for the first time by each Grantee
during any calendar year shall not exceed one hundred thousand United States dollars ($100,000) with respect to such Grantee.
To the extent that the aggregate Fair Market Value of Shares with respect to which such Incentive Stock Options and any other
such incentive stock options are exercisable for the first time by any Grantee during any calendar year exceeds one hundred thousand
United States dollars ($100,000), such options shall be treated as Nonqualified Stock Options. The foregoing shall be applied
by taking options into account in the order in which they were granted. If the Code is amended to provide for a different limitation
from that set forth in this Section 8.5, such different limitation shall be deemed incorporated herein effective as of the date
and with respect to such Awards as required or permitted by such amendment to the Code. If an Option is treated as an Incentive
Stock Option in part and as a Nonqualified Stock Option in part by reason of the limitation set forth in this Section 8.5, the
Grantee may designate which portion of such Option the Grantee is exercising. In the absence of such designation, the Grantee
shall be deemed to have exercised the Incentive Stock Option portion of the Option first. Separate certificates representing each
such portion may be issued upon the exercise of the Option.

 

8.6.                                   
Ten Percent Shareholder. In the case of an Incentive Stock Option granted to a Ten Percent Shareholder, notwithstanding
the foregoing provisions of this Section 8, (i) the Exercise Price shall not be less than one hundred and ten percent (110%) of
the Fair Market Value of a Share on the date of grant of such Incentive Stock Option, and (ii) the Exercise Period shall not exceed
five (5) years from the effective date of grant of such Incentive Stock Option.

 

8.7.                                   
Payment
of Exercise Price. Each Award Agreement evidencing an Incentive Stock Option shall state each alternative method by which
the Exercise Price thereof may be paid.

 

8.8.                                   
Leave of Absence. Notwithstanding Section 6.8, a Grantee’s employment shall not be deemed to have terminated if the
Grantee takes any leave as set forth in Section 6.8(i) or as otherwise permitted by the Administrator.

 

8.9.                                   
Exercise Following Termination. Notwithstanding anything else in this Plan to the contrary, Incentive Stock Options that
are not exercised within three (3) months following termination of the Grantee’s employment with the Company or its Parent
or Subsidiary or with a corporation (or a parent or subsidiary of such corporation) issuing or assuming an Option of such Grantee
in a transaction to which Section 424(a) of the Code applies, or within one (1) year in case of termination of the Grantee’s
employment with the Company or its Parent or Subsidiary due to a Disability (within the meaning of Section 22(e)(3) of the Code),
shall be deemed to be Nonqualified Stock Options.

 

8.10.                                 
Notice
to Company of Disqualifying Disposition. Each Grantee who receives an Incentive Stock Option must agree to notify the Company
in writing immediately after the Grantee makes a Disqualifying Disposition of any Shares received pursuant to the exercise of
Incentive Stock Options. A “Disqualifying Disposition” is any disposition (including any sale) of such Shares
before the later of (i) two years after the date the Grantee was granted the Incentive Stock Option, or (ii) one year after the
date the Grantee acquired Shares by exercising the Incentive Stock Option. If the Grantee dies before such Shares are sold, these
holding period requirements do not apply and no disposition of the Shares will be deemed a Disqualifying Disposition.

    15 

     

    

9.           102
AWARDS. 

 

Awards
granted pursuant to this Section 9 are intended to constitute 102 Awards and shall be granted subject to the following special
terms and conditions, the general terms and conditions specified in Section 6 hereof and other provisions of this Plan, except
for any provisions of this Plan applying to Awards under different tax laws or regulations. In the event of any inconsistency
or contradictions between the provisions of this Section 9 and the other terms of this Plan, this Section 9 shall prevail.

 

9.1.                                   Tracks.
Awards granted pursuant to this Section 9 are intended to be granted pursuant to Section 102 of the Ordinance pursuant to
either (i) Section 102(b)(2) or (3) thereof (as applicable), under the capital gain track (“102 Capital Gain
Track Awards”), or (ii) Section 102(b)(1) thereof under the ordinary income track (“102 Ordinary Income
Track Awards”, and together with 102 Capital Gain Track Awards, “102 Trustee Awards”). 102
Trustee Awards shall be granted subject to the special terms and conditions contained in this Section 9, the general terms
and conditions specified in Section 6 hereof and other provisions of this Plan, except for any provisions of this Plan
applying to Options under different tax laws or regulations.

 

9.2.                                   
Election of Track. Subject to Applicable Law, the Company may grant only one type of 102 Trustee Awards at any given
time to all Grantees who are to be granted 102 Trustee Awards pursuant to this Plan, and shall file an election with the ITA
regarding the type of 102 Trustee Awards it elects to grant before the date of grant of any 102 Trustee Awards (the
 “Election”). Such Election shall also apply to any other securities, including bonus shares, received by
any Grantee as a result of holding the 102 Trustee Awards. The Company may change the type of 102 Trustee Awards that it
elects to grant only after the expiration of at least 12 months from the end of the year in which the first grant was made in
accordance with the previous Election, or as otherwise provided by Applicable Law. Any Election shall not prevent the Company
from granting Awards, pursuant to Section 102(c) of the Ordinance without a Trustee (“102 Non- Trustee
Awards”).

 

9.3.                                   Eligibility
for Awards.

 

9.3.1       Subject
to Applicable Law, 102 Awards may only be granted to an “employee” within the meaning of Section 102(a) of the Ordinance
(which as of the date of the adoption of this Plan means (i) individuals employed by an Israeli company being the Company or any
of its Affiliates, and (ii) individuals who are serving and are engaged personally ( and not through an entity) as “office
holders” by such an Israeli company), but may not be granted to a Controlling Shareholder (“Eligible 102 Grantees”).
Eligible 102 Grantees may receive only 102 Awards, which may either be granted to a Trustee or granted under Section 102 of the
Ordinance without a Trustee. 

 

9.4.                                   102
Award Grant Date.

 

9.4.1
      Each 102 Award will be deemed granted on the date determined by the Committee, subject to Section
9.4.2, provided that (i) the Grantee has signed all documents required by the Company or pursuant to Applicable Law, and
(ii) with respect to 102 Trustee Award, the Company has provided all applicable documents to the Trustee in accordance with the
guidelines published by the ITA, and if an agreement is not signed and delivered by the Grantee within 90 days from the date determined
by the Committee (subject to Section 9.4.2), then such 102 Trustee Award shall be deemed granted on such later date as such agreement
is signed and delivered and on which the Company has provided all applicable documents to the Trustee in accordance with the guidelines
published by the ITA. In the case of any contradiction, this provision and the date of grant determined pursuant hereto shall
supersede and be deemed to amend any date of grant indicated in any corporate resolution or Award Agreement. 

 

9.4.2
       Unless otherwise permitted by the Ordinance, any grants of 102 Trustee Awards that are made
on or after the date of the adoption of this Plan or an amendment to this Plan, as the case may be, that may become effective
only at the expiration of thirty (30) days after the filing of this Plan or any amendment thereof (as the case may be) with the
ITA in accordance with the Ordinance shall be conditional upon the expiration of such 30-day period, such condition shall be read
and is incorporated by reference into any corporate resolutions approving such grants and into any Award Agreement evidencing
such grants (whether or not explicitly referring to such condition), and the date of grant shall be at the expiration of such
30-day period, whether or not the date of grant indicated therein corresponds with this Section. In the case of any contradiction,
this provision and the date of grant determined pursuant hereto shall supersede and be deemed to amend any date of grant indicated
in any corporate resolution or Award Agreement.

     16

     

    

9.5.
                                   102 Trustee Awards.

 

9.5.1       Each
102 Trustee Award, each Share issued pursuant to the exercise of any 102 Trustee Award, and any rights granted thereunder, including
bonus shares, shall be issued to and registered in the name of the Trustee and shall be held in trust for the benefit of the Grantee
for the requisite period prescribed by the Ordinance (the “Required Holding Period”). In the event that the
requirements under Section 102 of the Ordinance to qualify an Award as a 102 Trustee Award are not met, then the Award may be
treated as a 102 Non-Trustee Award or 3(9) Award, all in accordance with the provisions of the Ordinance. After expiration of
the Required Holding Period, the Trustee may release such 102 Trustee Awards and any such Shares, provided that (i) the
Trustee has received an acknowledgment from the ITA that the Grantee has paid any applicable taxes due pursuant to the Ordinance,
or (ii) the Trustee and/or the Company and/or the Employer withholds all applicable taxes and compulsory payments due pursuant
to the Ordinance arising from the 102 Trustee Awards and/or any Shares issued upon exercise or (if applicable) vesting of such
102 Trustee Awards. The Trustee shall not release any 102 Trustee Awards or Shares issued upon exercise or (if applicable) vesting
thereof prior to the payment in full of the Grantee’s tax and compulsory payments arising from such 102 Trustee Awards and/or
Shares or the withholding referred to in (ii) above.

 

9.5.2
       Each 102 Trustee Award shall be subject to the relevant terms of the Ordinance, the Rules and any determinations, rulings or approvals
issued by the ITA, which shall be deemed an integral part of the 102 Trustee Awards and shall prevail over any term contained
in this Plan or Award Agreement that is not consistent therewith. Any provision of the Ordinance, the Rules and any determinations,
rulings or approvals by the ITA not expressly specified in this Plan or Award Agreement that are necessary to receive or maintain
any tax benefit pursuant to Section 102 of the Ordinance shall be binding on the Grantee. Any Grantee granted a 102 Trustee Awards
shall comply with the Ordinance and the terms and conditions of the trust agreement entered into between the Company and the Trustee.
The Grantee shall execute any and all documents that the Company and/or its Affiliates and/or the Trustee determine from time
to time to be necessary in order to comply with the Ordinance and the Rules.

 

9.5.3
      During the Required Holding Period, the Grantee shall not release from trust or sell, assign, transfer or give as collateral,
the Shares issuable upon the exercise or (if applicable) vesting of a 102 Trustee Awards and/or any securities issued or distributed
with respect thereto, until the expiration of the Required Holding Period. Notwithstanding the above, if any such sale, release
or other action occurs during the Required Holding Period it may result in adverse tax consequences to the Grantee under Section
102 of the Ordinance and the Rules, which shall apply to and shall be borne solely by such Grantee. Subject to the foregoing,
the Trustee may, pursuant to a written request from the Grantee, but subject to the terms of this Plan, release and transfer such
Shares to a designated third party, provided that both of the following conditions have been fulfilled prior to such release
or transfer: (i) payment has been made to the ITA of all taxes and compulsory payments required to be paid upon the release and
transfer of the Shares, and confirmation of such payment has been received by the Trustee and the Company, and (ii) the Trustee
has received written confirmation from the Company that all requirements for such release and transfer have been fulfilled according
to the terms of the Company’s corporate documents, any agreement governing the Shares, this Plan, the Award Agreement and
any Applicable Law.

 

9.5.4
       If a 102 Trustee Award is exercised or (if applicable) vested, the Shares issued upon such exercise or (if applicable) vesting
shall be issued in the name of the Trustee for the benefit of the Grantee.

     17

     

    

9.5.5
      Upon or after receipt of a 102 Trustee Award, if required, the Grantee may be required to sign an
undertaking to release the Trustee from any liability with respect to any action or decision duly taken and executed in good faith
by the Trustee in relation to this Plan, or any 102 Trustee Awards or Share granted to such Grantee thereunder.

 

9.6.                                  
102 Non-Trustee Awards. The foregoing provisions of this Section 9 relating to 102 Trustee Awards shall not apply with
respect to 102 Non-Trustee Awards, which shall, however, be subject to the relevant provisions of Section 102 of the Ordinance
and the applicable Rules. The Committee may determine that 102 Non-Trustee Awards, the Shares issuable upon the exercise or (if
applicable) vesting of a 102 Non-Trustee Awards and/or any securities issued or distributed with respect thereto, shall be allocated
or issued to the Trustee, who shall hold such 102 Non-Trustee Awards and all accrued rights thereon (if any), in trust for the
benefit of the Grantee and/or the Company, as the case may be, until the full payment of tax arising from the 102 Non-Trustee
Awards, the Shares issuable upon the exercise or (if applicable) vesting of a 102 Non-Trustee Awards and/or any securities issued
or distributed with respect thereto. The Company may choose, alternatively, to force the Grantee to provide it with a guarantee
or other security, to the satisfaction of each of the Trustee and the Company, until the full payment of the applicable taxes.

 

9.7.                                   Written
Grantee Undertaking. To the extent and with respect to any 102 Trustee Award, and as required by Section 102 of the Ordinance
and the Rules, by virtue of the receipt of such Award, the Grantee is deemed to have provided, undertaken and confirmed the following
written undertaking (and such undertaking is deemed incorporated into any documents signed by the Grantee in connection with the
employment or service of the Grantee and/or the grant of such Award), which undertaking shall be deemed to apply and relate to
all 102 Trustee Awards granted to the Grantee, whether under this Plan or other plans maintained by the Company, and whether prior
to or after the date hereof.

 

9.7.1      
The Grantee shall comply with all terms and conditions set forth in Section 102 of the Ordinance with regard to the “Capital
Gain Track” or the “Ordinary Income Track”, as applicable, and the applicable rules and regulations promulgated
thereunder, as amended from time to time;

 

9.7.2      
The Grantee is familiar with, and understands the provisions of, Section 102 of the Ordinance in general, and the tax arrangement
under the “Capital Gain Track” or the “Ordinary Income Track” in particular, and its tax consequences;
the Grantee agrees that the 102 Trustee Awards and Shares that may be issued upon exercise or (if applicable) vesting of the 102
Trustee Awards (or otherwise in relation to the 102 Trustee Awards), will be held by the Trustee appointed pursuant to Section
102 of the Ordinance for at least the duration of the “Holding Period” (as such term is defined in Section 102) under
the “Capital Gain Track” or the “Ordinary Income Track”, as applicable. The Grantee understands that any
release of such 102 Trustee Awards or Shares from trust, or any sale of the Share prior to the termination of the Holding Period,
as defined above, will result in taxation at marginal tax rate, in addition to deductions of appropriate social security, health
tax contributions or other compulsory payments; and

 

9.7.3       The
Grantee agrees to the trust agreement signed between the Company, the Employer and the Trustee appointed pursuant to Section 102
of the Ordinance. 

 

 

10.         
3(I) AWARDS. 

 

Awards
granted pursuant to this Section 10 are intended to constitute 3(i) Awards and shall be granted subject to the general terms and
conditions specified in Section 6 hereof and other provisions of this Plan, except for any provisions of this Plan applying to
Awards under different tax laws or regulations. In the event of any inconsistency or contradictions between the provisions of
this Section 10 and the other terms of this Plan, this Section 10 shall prevail. 

 

10.1.  
                               To the extent required by the Ordinance or the ITA or otherwise deemed by the Committee to be
advisable, the 3(i) Awards and/or any shares or other securities issued or distributed with respect thereto granted pursuant
to this Plan shall be issued to the Grantee and shall be supervised by a Trustee nominated by the Committee in accordance
with the provisions of the Ordinance or the terms of a trust agreement, as applicable. In such event, the Trustee shall hold
such Awards and or other securities issued or distributed with respect thereto in trust, until exercised or (if applicable)
vested by the Grantee and the full payment of tax arising therefrom, pursuant to the Company’s instructions from time
to time as set forth in a trust agreement, which will have been entered into between the Company and the Trustee. If
determined by the Board or the Committee, and subject to such trust agreement, the Trustee shall be responsible for
withholding any taxes to which a Grantee may become liable upon issuance of Shares, whether due to the exercise or (if
applicable) vesting of Awards.

     18

     

    

10.2.
                                 Shares pursuant to a 3(I) Award shall not be issued, unless the Grantee delivers to the Company payment in cash or by bank check
or such other form acceptable to the Committee of all withholding taxes due, if any, on account of the Grantee acquired Shares
under the Award or gives other assurance satisfactory to the Committee of the payment of those withholding taxes.

 

11.          
RESTRICTED SHARES. 

 

The
Committee may award Restricted Shares to any eligible Grantee, including under Section 102 of the Ordinance. Each Award of Restricted
Shares under this Plan shall be evidenced by a written agreement between the Company and the Grantee (the “Restricted
Share Agreement”), in such form as the Committee shall from time to time approve. The Restricted Shares shall be subject
to all applicable terms of this Plan, which in the case of Restricted Shares granted under Section 102 of the Ordinance shall
include Section 9 hereof, and may be subject to any other terms that are not inconsistent with this Plan. The provisions of the
various Restricted Shares Agreements entered into under this Plan need not be identical with respect to any two Awards or Grantees.
The Restricted Share Agreement shall comply with and be subject to Section 6 and the following terms and conditions, unless otherwise
specifically provided in such Agreement and not inconsistent with this Plan or Applicable Law:

 

11.1.
                                 Purchase Price. Section 6.4 shall not apply. Each Restricted Share Agreement shall state an amount of Exercise Price to
be paid by the Grantee, if any, in consideration for the issuance of the Restricted Shares and the terms of payment thereof, which
may include payment in cash or, subject to the Committee’s approval, by issuance of promissory notes or other evidence of
indebtedness on such terms and conditions as determined by the Committee.

 

11.2.                                
Restrictions. Restricted Shares may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of,
except by will or the laws of descent and distribution (in which case they shall be transferred subject to all restrictions then
or thereafter applicable thereto), until such Restricted Shares shall have vested (the period from the date on which the Award
is granted until the date of vesting of the Restricted Shares thereunder being referred to herein as the “Restricted
Period”). The Committee may also impose such additional or alternative restrictions and conditions on the Restricted
Shares, as it deems appropriate, including the satisfaction of performance criteria (which, in case of 102 Trustee Awards, may
be subject to obtaining a specific tax ruling or determination from the ITA). Such performance criteria may include, but are not
limited to, sales, earnings before interest and taxes, return on investment, earnings per share, any combination of the foregoing
or rate of growth of any of the foregoing, as determined by the Committee or pursuant to the provisions of any Company policy
required under mandatory provisions of Applicable Law. Certificates for shares issued pursuant to Restricted Share Awards, if
issued, shall bear an appropriate legend referring to such restrictions, and any attempt to dispose of any such shares in contravention
of such restrictions shall be null and void and without effect. Such certificates may, if so determined by the Committee, be held
in escrow by an escrow agent appointed by the Committee, or, if a Restricted Share Award is made pursuant to Section 102 of the
Ordinance, by the Trustee. In determining the Restricted Period of an Award the Committee may provide that the foregoing restrictions
shall lapse with respect to specified percentages of the awarded Restricted Shares on successive anniversaries of the date of
such Award. To the extent required by the Ordinance or the ITA, the Restricted Shares issued pursuant to Section 102 of the Ordinance
shall be issued to the Trustee in accordance with the provisions of the Ordinance and the Restricted Shares shall be held for
the benefit of the Grantee for at least the Required Holding Period. 

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11.3.                                
Forfeiture; Repurchase. Subject to such exceptions as may be determined by the Committee, if the Grantee’s continuous
employment with or service to the Company or any Affiliate thereof shall terminate (such that Grantee is no longer a Service Provider
of either the Company or any Affiliate thereof) for any reason prior to the expiration of the Restricted Period of an Award or
prior to the timely payment in full of the Exercise Price of any Restricted Shares, any Restricted Shares remaining subject to
vesting or with respect to which the purchase price has not been paid in full, shall thereupon be forfeited, transferred to, and
redeemed, repurchased or cancelled by, as the case may be, in any manner as set forth in Section 6.6.2(i) through (v), subject
to Applicable Law and the Grantee shall have no further rights with respect to such Restricted Shares.

 

11.4.                                
Ownership. During the Restricted Period the Grantee shall possess all incidents of ownership of such Restricted Shares,
subject to Section 6.10 and Section 11.2, including the right to vote and receive dividends with respect to such Shares. All securities,
if any, received by a Grantee with respect to Restricted Shares as a result of any stock split, stock dividend, combination of
shares, or other similar transaction shall be subject to the restrictions applicable to the original Award. Notwithstanding anything
to the contrary herein, dividends which are paid to the Company’s shareholders prior to the vesting date of any Restricted
Shares shall only be paid to the Grantee of such Restricted Shares to the extent the vesting conditions applicable to such Restricted
Shares are subsequently satisfied (and any such dividends will be paid no later than March 15 of the calendar year following the
calendar year in which the right to the dividend payment becomes nonforfeitable)).

 

12.          RESTRICTED
SHARE UNITS.

 

An
RSU is an Award covering a number of Shares that is settled, if vested and (if applicable) exercised, by issuance of those Shares
or, in the discretion of the Committee, an amount of cash equal to the aggregate Fair Market Value of the Shares underlying the
Award (other than with respect to 102 Trustee Awards). An RSU may be awarded to any eligible Grantee, including under Section
102 of the Ordinance. The Award Agreement relating to the grant of RSUs under this Plan (the “Restricted Share Unit Agreement”),
shall be in such form as the Committee shall from time to time approve. The RSUs shall be subject to all applicable terms of this
Plan, which in the case of RSUs granted under Section 102 of the Ordinance shall include Section 9 hereof, and may be subject
to any other terms that are not inconsistent with this Plan. The provisions of the various Restricted Share Unit Agreements entered
into under this Plan need not be identical. RSUs may be granted in consideration of a reduction in the recipient’s other
compensation.

 

12.1.                                
Exercise Price. No payment of Exercise Price shall be required as consideration for RSUs, unless included in the Award
Agreement or as required by Applicable Law (including, Section 304 of the Companies Law), and Section 6.4 shall apply, if applicable.

 

12.2.                                
Shareholders’ Rights. The Grantee shall not possess or own any ownership rights in the Shares underlying the RSUs
and no rights as a shareholder shall exist prior to the actual issuance of Shares in the name of the Grantee.

 

12.3.                                
Settlements of Awards. Settlement of vested RSUs shall be made in the form of Shares or, in the discretion of the Committee,
cash (other than with respect 102 Trustee Awards). Distribution to a Grantee of an amount (or amounts) from settlement of vested
RSUs can be deferred to a date after vesting as determined by the Committee. The amount of a deferred distribution may be increased
by an interest factor or by dividend equivalents. Until the grant of RSUs is settled, the number of Shares underlying such RSUs
shall be subject to adjustment pursuant hereto.

 

12.4.                                
Section 409A Restrictions. Notwithstanding anything to the contrary set forth herein, any RSUs granted under this Plan
that are not exempt from the requirements of Section 409A of the Code shall contain such restrictions or other provisions so that
such RSUs will comply with the requirements of Section 409A of the Code, if applicable to the Grantee. Such restrictions, if any,
shall be determined by the Committee and contained in the Restricted Share Unit Agreement evidencing such RSU. For example, such
restrictions may include a requirement that any Shares that are to be issued in a year following the year in which the RSU vests
must be issued in accordance with a fixed, pre-determined schedule.

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13.          OTHER
SHARE OR SHARE-BASED AWARDS.

 

13.1.                                
The Committee may grant other Awards under this Plan pursuant to which Shares (which may, but need not, be Restricted Shares pursuant
to Section 11 hereof), cash (in settlement of Share-based Awards) or a combination thereof, are or may in the future be acquired
or received, or Awards denominated in stock units, including units valued on the basis of measures other than market value.

 

13.2.                                
The Committee may also grant stock appreciation rights without the grant of an accompanying option, which rights shall permit
the Grantees to receive, at the time of any exercise of such rights, cash equal to the amount by which the Fair Market Value of
the Shares in respect to which the right was granted is so exercised exceeds the exercise price thereof. The exercise price of
any such stock appreciation right granted to a Grantee who is subject to U.S. federal income tax shall be determined in compliance
with Section 7.2.

 

13.3.                                
Such other Share-based Awards as set forth above may be granted alone, in addition to, or in tandem with any Award of any type
granted under this Plan (without any obligation or assurance that that such Share-based Awards will be entitled to tax benefits
under Applicable Law or to the same tax treatment as other Awards under this Plan).

 

14.         EFFECT
OF CERTAIN CHANGES. 

 

14.1.       
General. In the event of a division or subdivision of the outstanding share capital of the Company, any distribution of
bonus shares (stock split), consolidation or combination of share capital of the Company (reverse stock split), reclassification
with respect to the Shares or any similar recapitalization events (each, a “Recapitalization”), a merger (including,
a reverse merger and a reverse triangular merger), consolidation, amalgamation or like transaction of the Company with or into
another corporation, a reorganization (which may include a combination or exchange of shares, spin-off or other corporate divestiture
or division, or other similar occurrences, the Committee shall make, without the need for a consent of any holder of an Award,
such adjustments as determined by the Committee to be appropriate, in its discretion, in order to adjust (i) the number and class
of shares reserved and available for grants of Awards, (ii) the number and class of shares covered by outstanding Awards, (iii)
the Exercise Price per share covered by any Award, (iv) the terms and conditions concerning vesting and exercisability and the
term and duration of the outstanding Awards, (v) the type or class of security, asset or right underlying the Award (which need
not be only that of the Company, and may be that of the surviving corporation or any affiliate thereof or such other entity party
to any of the above transactions), and (vi) any other terms of the Award that in the opinion of the Committee should be adjusted.
Subject to Applicable Law, any fractional shares resulting from such adjustment shall be treated as determined by the Committee,
and in the absence of such determination shall be rounded to the nearest whole share, and the Company shall have no obligation
to make any cash or other payment with respect to such fractional shares. No adjustment shall be made by reason of the distribution
of subscription rights or rights offering to outstanding shares or other issuance of shares by the Company, unless the Committee
determines otherwise. The adjustments determined pursuant to this Section 14.1 (including a determination that no adjustment is
to be made) shall be final, binding and conclusive.

 

Notwithstanding
anything to the contrary included herein, and subject to Applicable Law and the applicable accounting standards, in the event
of a distribution of cash dividend by the Company to all holders of Shares, the Committee shall have the authority to determine,
without the need for a consent of any holder of an Award, that the Exercise Price of any Award, which is outstanding and unexercised
on the record date of such distribution, shall be reduced by an amount equal to the per Share gross dividend amount distributed
by the Company, and the Committee may determine that the Exercise Price following such reduction shall be not less than the par
value of a Share (if such Shares bear a par value). The application of this Section with respect to any 102 Awards shall be subject
to obtaining a ruling from the ITA, to the extent required by applicable law and subject to the terms and conditions of any such
ruling.

 

14.2.        Merger/Sale
of Company. In the event of (i) a sale of all or substantially all of the assets of the Company, or a sale (including an
exchange) of all or substantially all of the shares of the Company, to any person, or a purchase by a shareholder of the
Company or by an Affiliate of such shareholder, of all the shares of the Company held by all or substantially all
other shareholders or by other shareholders who are not Affiliated with such acquiring party; (ii) a merger (including, a
reverse merger and a reverse triangular merger), consolidation, amalgamation or like transaction of the Company with or into
another corporation; (iii) a scheme of arrangement for the purpose of effecting such sale, merger, consolidation,
amalgamation or other transaction; (iv) approval by the shareholders of the Company of a complete liquidation or dissolution
of the Company, (v) Change in Board Event, or (vi) such other transaction or set of circumstances that is determined by the
Board, in its discretion, to be a transaction subject to the provisions of this Section 14.2 excluding any of the foregoing
transactions in clauses (i) through (iv) if the Board determines that such transaction should be excluded from the definition
hereof and the applicability of this Section 14.2 (each of the foregoing transactions, a “Merger/Sale”),
then, without derogating from the general authority and power of the Board or the Committee under this Plan, without the
Grantee’s consent and action and without any prior notice requirement, the Committee may make, in its sole and absolute
discretion, any determination as to the treatment of Awards including, without limitation, as provided herein:

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14.2.1
     Unless otherwise determined by the Committee, any Award then outstanding shall be assumed or be substituted by the Company, or
by the successor corporation in such Merger/Sale or by any parent or Affiliate thereof, as determined by the Committee in its
discretion (the “Successor Corporation”), under terms as determined by the Committee or the terms of this Plan
applied by the Successor Corporation to such assumed or substituted Awards.

 

For
the purposes of this Section 14.2.1, the Award shall be considered assumed or substituted if, following a Merger/Sale, the Award
confers on the holder thereof the right to purchase or receive, for each Share underlying an Award immediately prior to the Merger/Sale,
either (i) the consideration (whether shares or other securities, cash or other property, or rights, or any combination thereof)
distributed to or received by holders of Shares in the Merger/Sale for each Share held on the effective date of the Merger/Sale
(and if holders were offered a choice or several types of consideration, the type of consideration as determined by the Committee,
which need not be the same type for all Grantees), or (ii) regardless of the consideration received by the holders of Shares in
the Merger/Sale, solely shares or any type of Awards (or their equivalent) of the Successor Corporation at a value to be determined
by the Committee in its discretion, or a certain type of consideration (whether shares or other securities, cash or other property,
or rights, or any combination thereof) as determined by the Committee. Any of the consideration referred to in the foregoing clauses
(i) and (ii) shall be subject to the same vesting and expiration terms of the Awards applying immediately prior to the Merger/Sale,
unless determined by the Committee in its discretion that the consideration shall be subject to different vesting and expiration
terms, or other terms, and the Committee may determine that it be subject to other or additional terms. The foregoing shall not
limit the Committee’s authority to determine, that in lieu of such assumption or substitution of Awards for Awards of the
Successor Corporation, such Award will be substituted for shares or other securities, cash or other property, or rights, or any
combination thereof, including as set forth in Section 14.2.2 hereof. 

 

14.2.2    
Regardless of whether or not Awards are assumed or substituted, the Committee may (but shall not be obligated to):

 

14.2.2.1.   
provide for the Grantee to have the right to exercise the Award in respect of Shares covered by the Award which would otherwise
be exercisable or vested, under such terms and conditions as the Committee shall determine, and the cancellation of all unexercised
Awards (whether vested or unvested) upon or immediately prior to the closing of the Merger/Sale, unless the Committee provides
for the Grantee to have the right to exercise the Award, or otherwise for the acceleration of vesting of such Award, as to all
or part of the Shares covered by the Award which would not otherwise be exercisable or vested, under such terms and conditions
as the Committee shall determine;

 

14.2.2.2.   
provide for the cancellation of each outstanding Award at or immediately prior to the closing of such Merger/Sale, and if and
to what extent payment shall be made to the Grantee of an amount in, shares or other securities of the Company, the acquirer or
of a corporation or other business entity which is a party to the Merger/Sale, in cash or other property, in rights, or in any
combination thereof, as determined by the Committee to be fair in the circumstances, and subject to such terms and conditions
as determined by the Committee. Subject to Applicable Law, the Committee shall have full authority to select the method for determining
the payment (being the intrinsic (“spread”) value of the option, Black-Scholes model or any other method). Inter
alia, and without limitation of the following determination being made in other circumstances, the Committee’s determination
may provide that payment shall be set to zero if the value of the Shares is determined to be less than the Exercise Price or in
respect of Shares covered by the Award which would not otherwise be exercisable or vested, or that payment may be made only in
excess of the Exercise Price; and/or 

     22

     

    

 14.2.2.3.    provide
that the terms of any Award shall be otherwise amended, modified or terminated, as determined by the Committee to be fair in the
circumstances. 

 

14.2.3     
Subject to Applicable Law, the Committee may, determine: (i) that any payments made in respect of Awards shall be made or delayed
to the same extent that payment of consideration to the holders of the Shares in connection with the Merger/Sale is made or delayed
as a result of escrows, indemnification, earn outs, holdbacks or any other contingencies or conditions; (ii) the terms and conditions
applying to the payment made or payable to the Grantees, including participation in escrow, indemnification, releases, earn-outs,
holdbacks or any other contingencies; and (iii) that any terms and conditions applying under the applicable definitive transaction
agreements shall apply to the Grantees (including, appointment and engagement of a shareholders or sellers representative, payment
of fees or other costs and expenses associated with such services, indemnifying such representative, and authorization to such
representative within the scope of such representative’s authority in the applicable definitive transaction agreements).

 

14.2.4
      The Committee may, determine to suspend the Grantee’s rights to exercise any vested portion of an Award for a period of
time prior to the signing or consummation of a Merger/Sale transaction. 

 

14.2.5
      Without limiting the generality of this Section 14, if the consideration in exchange for Awards in a Merger/Sale includes any
securities and due receipt thereof by any Grantee (or by the Trustee for the benefit of such Grantee) may require under applicable
law (i) the registration or qualification of such securities or of any person as a broker or dealer or agent with respect to such
securities; or (ii) the provision to any Grantee of any information under the Securities Act or any other securities laws, then
the Committee may determine that the Grantee shall be paid in lieu thereof, against surrender of the Shares or cancellation of
any other Awards, an amount in cash or other property, or rights, or any combination thereof, as determined by the Committee to
be fair in the circumstances, and subject to such terms and conditions as determined by the Committee. Nothing herein shall entitle
any Grantee to receive any form of consideration that such Grantee would be ineligible to receive as a result of such Grantee’s
failure to satisfy (in the Committee’s sole determination) any condition, requirement or limitation that is generally applicable
to the Company’s shareholders, or that is otherwise applicable under the terms of the Merger/Sale, and in such case, the
Committee shall determine the type of consideration and the terms applying to such Grantees.

 

14.2.6
      Neither the authorities and powers of the Committee under this Section 14.2, nor the exercise or implementation thereof, shall
(i) be restricted or limited in any way by any adverse consequences (tax or otherwise) that may result to any holder of an Award,
and (ii) as, inter alia, being a feature of the Award upon its grant, be deemed to constitute a change or an amendment
of the rights of such holder under this Plan, nor shall any such adverse consequences (as well as any adverse tax consequences
that may result from any tax ruling or other approval or determination of any relevant tax authority) be deemed to constitute
a change or an amendment of the rights of such holder under this Plan, and may be effected without consent of any Grantee and
without any liability to the Company or its Affiliates or to its or their respective officers, directors, employees and representatives
and the respective successors and assigns of any of the foregoing. The Committee need not take the same action with respect to
all Awards or with respect to all Service Providers. The Committee may take different actions with respect to the vested and unvested
portions of an Award. The Committee may determine an amount or type of consideration to be received or distributed in a Merger/Sale
which may differ as among the Grantees, and as between the Grantees and any other holders of shares of the Company. 

     23

     

    

14.2.7
      The Committee may determine that upon a Merger/Sale any Shares held by Grantees (or for Grantee’s
benefit) are sold in accordance with instructions issued by the Committee in connection with such Merger/Sale, which shall be
final, conclusive and binding on all Grantees. 

 

14.2.8
      All of the Committee’s determinations pursuant to this Section 14 shall be at its sole and
absolute discretion, and shall be final, conclusive and binding on all Grantees (including, for clarity, as it relates to Shares
issued upon exercise or vesting of any Awards or that are Awards, unless otherwise determined by the Committee) and without any
liability to the Company or its Affiliates, or to their respective officers, directors, employees, shareholders and representatives,
and the respective successors and assigns of any of the foregoing, in connection with the method of treatment, chosen course of
action or determinations made hereunder. 

 

14.2.9
      If determined by the Committee, the Grantees shall be subject to the definitive agreement(s) in
connection with the Merger/Sale as applying to holders of Shares including, such terms, conditions, representations, undertakings,
liabilities, limitations, releases, indemnities, appointing and indemnifying shareholders/sellers representative, participating
in transaction expenses, shareholders/sellers representative expense fund and escrow arrangement, in each case as determined by
the Committee. Each Grantee shall execute (and authorizes any person designated by the Company to so execute, as well as (if applicable)
the Trustee holding any Shares for the Grantee’s behalf) such separate agreement(s) or instruments as may be requested by
the Company, the Successor Corporation or the acquirer in connection with such in such Merger/Sale or otherwise under or for the
purpose of implementing this Section 14.2, and in the form required by them. The execution of such separate agreement(s) may be
a condition to the receipt of assumed or substituted Awards, payment in lieu of the Award, the exercise of any Award or otherwise
to be entitled to benefit from shares or other securities, cash or other property, or rights, or any combination thereof, pursuant
to this Section 14.2 (and the Company (and, if applicable, the Trustee) may exercise its authorization above and sign such agreement
on behalf of the Grantee or subject the Grantee to the provisions of such agreements). 

 

14.3.
                                 Reservation of Rights. Except as expressly provided in this Section 14 (if any), the Grantee of an Award hereunder shall
have no rights by reason of any transaction or event referred to in this Section 14 (including, Recapitalization of shares of
any class, any increase or decrease in the number of shares of any class, or any dissolution, liquidation, reorganization, business
combination, exchange of shares, spin-off or other corporate divestiture or division, or other similar occurrences, or Merger/Sale).
Any issue by the Company of shares of any class, or securities convertible into shares of stock of any class, shall not affect,
and no adjustment by reason thereof shall be made with respect to, the number, type or price of shares subject to an Award. The
grant of an Award pursuant to this Plan shall not affect in any way the right or power of the Company to make adjustments, reclassifications,
reorganizations or changes of its capital or business structures or to merge or to consolidate or to dissolve, liquidate or sell,
or transfer all or part of its business or assets or engage in any similar transactions.

 

15.          NON-TRANSFERABILITY
OF AWARDS; SURVIVING BENEFICIARY. 

 

15.1.
                                 All
Awards granted under this Plan by their terms shall not be transferable other than by will or by the laws of descent and
distribution, unless otherwise determined by the Committee or under this Plan, provided that with respect to Shares issued
upon exercise of Awards, Shares issued upon the vesting of Awards or Awards that are Shares, the restrictions on transfer
shall be the restrictions referred to in Section 16 (Conditions upon Issuance of Shares) hereof. Subject to the above
provisions, the terms of such Award, this Plan and any applicable Award Agreement shall be binding upon the beneficiaries,
executors, administrators, heirs and successors of such Grantee. Awards may be exercised or otherwise realized, during the
lifetime of the Grantee, only by the Grantee or by his guardian or legal representative, to the extent provided for herein.
Any transfer of an Award not permitted hereunder (including transfers pursuant to any decree of divorce, dissolution or
separate maintenance, any property settlement, any separation agreement or any other agreement with a spouse) and any grant
of any interest in any Award to, or creation in any way of any direct or indirect interest in any Award by, any party other
than the Grantee shall be null and void and shall not confer upon any party or person, other than the Grantee, any rights. A
Grantee may file with the Committee a written designation of a beneficiary, who shall be permitted to exercise such
Grantee’s Award or to whom any benefit under this Plan is to be paid, in each case, in the event of the Grantee’s
death before he or she fully exercises his or her Award or receives any or all of such benefit, on such form as may be
prescribed by the Committee and may, from time to time, amend or revoke such designation. If no designated
beneficiary survives the Grantee, the executor or administrator of the Grantee’s estate shall be deemed to be the
Grantee’s beneficiary. Notwithstanding the foregoing, upon the request of the Grantee and subject to Applicable Law,
the Committee, at its sole discretion, may permit the Grantee to transfer the Award to a trust whose beneficiaries are the
Grantee and/or the Grantee’s immediate family members (all or several of them).

     24

     

    

15.2.
                                
Notwithstanding any other provisions of the Plan to the contrary, no Incentive Stock Option may be sold, transferred, pledged,
assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution or in accordance
with a beneficiary designation pursuant to Section 15.1. Further, all Incentive Stock Options granted to a Grantee shall be exercisable
during his or her lifetime only by such Grantee.

 

15.3.
                                
As long as the Shares are held by the Trustee in favor of the Grantee, all rights possessed by the Grantee over the Shares are
personal, and may not be transferred, assigned, pledged or mortgaged, other than by will or laws of descent and distribution.

 

15.4.
                                
If and to the extent a Grantee is entitled to transfer an Award and/or Shares underlying an Award in accordance with the terms
of the Plan and any other applicable agreements, such transfer shall be subject (in addition, to any other conditions or terms
applying thereto) to receipt by the Company from such proposed transferee of a written instrument, on a form reasonably acceptable
to the Company, pursuant to which such proposed transferee agrees to be bound by all provisions of the Plan and any other applicable
agreements, including without limitation, any restrictions on transfer of the Award and/or Shares set forth herein (however, failure
to so deliver such instrument to the Company as set forth above shall not derogate from all such provisions applying on any transferee).

 

15.5.

                                 The provisions of this Section 15 shall apply to the Grantee and to any purchaser, assignee or transferee of any Shares.

 

16.          CONDITIONS
UPON ISSUANCE OF SHARES; GOVERNING PROVISIONS. 

 

16.1.
                                 Legal
Compliance. The grant of Awards and the issuance of Shares upon exercise or settlement of Awards shall be subject to
compliance with all Applicable Law as determined by the Company, including, applicable requirements of federal, state and
foreign law with respect to such securities. The Company shall have no obligations to issue Shares pursuant to the exercise
or settlement of an Award and Awards may not be exercised or settled, if the issuance of Shares upon exercise or settlement
would constitute a violation of any Applicable Law as determined by the Company, including, applicable federal, state or
foreign securities laws or other law or regulations or the requirements of any stock exchange or market system upon which the
Shares may then be listed. In addition, no Award may be exercised unless (i) a registration statement under the Securities
Act or equivalent law in another jurisdiction shall at the time of exercise or settlement of the Award be in effect with
respect to the shares issuable upon exercise of the Award, or (ii) in the opinion of legal counsel to the Company, the shares
issuable upon exercise of the Award may be issued in accordance with the terms of an applicable exemption from the
registration requirements of the Securities Act or equivalent law in another jurisdiction. The inability of the Company to
obtain authority from any regulatory body having jurisdiction, if any, deemed by the Company to be necessary to the lawful
issuance and sale of any Shares hereunder, and the inability to issue Shares hereunder due to non-compliance with any Company
policies with respect to the sale of Shares, shall relieve the Company of any liability in respect of the failure to issue or
sell such Shares as to which such requisite authority or compliance shall not have been obtained or achieved. As a condition
to the exercise of an Award, the Company may require the person exercising such Award to satisfy any qualifications that may
be necessary or appropriate, to evidence compliance with any Applicable Law or regulation and to make any representation or
warranty with respect thereto as may be requested by the Company, including to represent and warrant at the time of any such
exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such
Shares, all in form and content specified by the Company.

     25

     

    

16.2.
                                
Provisions Governing Shares. Shares issued pursuant to an Award shall be subject to this Plan and shall be subject to the
Articles of Association of the Company, and any other governing documents of the Company and all policies, manuals and internal
regulations of the Company, as in effect from time to time.

 

16.3.
                                
Share Purchase Transactions; Forced Sale. In the event that the Board approves a Merger/Sale effected by way of a forced
or compulsory sale (whether pursuant to the Company’s Articles of Association or pursuant to Section 341 of the Companies
Law or otherwise) or in the event of a transaction for the sale of all shares of the Company, then, without derogating from such
provisions and in addition thereto, the Grantee shall be obligated, and shall be deemed to have agreed to the offer to effect
the Merger/Sale (and the Shares held by or for the benefit of the Grantee shall be included in the shares of the Company approving
the terms of such Merger/Sale for the purpose of satisfying the required majority), and shall sell all of the Shares held by or
for the benefit of the Grantee on the terms and conditions applying to the holders of Shares, in accordance with the instructions
then issued by the Board, whose determination shall be final. No Grantee shall contest, bring any claims or demands, or exercise
any appraisal or dissenters’ rights related to any of the foregoing. Each Grantee shall execute (and authorizes any person
designated by the Company to so execute, as well as (if applicable) the Trustee holding any Shares for the Grantee’s behalf)
such documents and agreements, as may be requested by the Company relating to matters set forth in or otherwise for the purpose
of implementing this Section16.3. The execution of such separate agreement(s) may be a condition by the Company to the exercise
of any Award and the Company (and, if applicable, the Trustee) may exercise its authorization above and sign such agreement on
behalf of the Grantee or subject the Grantee to the provisions of such agreements.

 

16.4.

                                 Data Privacy; Data Transfer. Information related to Grantees and Awards hereunder, as shall be received from Grantee or
others, and/or held by, the Company or its Affiliates from time to time, and which information may include sensitive and personal
information related to Grantees (“Information”), will be used by the Company or its Affiliates (or third parties
appointed by any of them, including the Trustee) to comply with any applicable legal requirement, or for administration of the
Plan as they deems necessary or advisable, or for the respective business purposes of the Company or its Affiliates (including
in connection with transactions related to any of them). The Company and its Affiliates shall be entitled to transfer the Information
among the Company or its Affiliates, and to third parties for the purposes set forth above, which may include persons located
abroad (including, any person administering the Plan or providing services in respect of the Plan or in order to comply with legal
requirements, or the Trustee, their respective officers, directors, employees and representatives, and the respective successors
and assigns of any of the foregoing), and any person so receiving Information shall be entitled to transfer it for the purposes
set forth above. The Company shall use commercially reasonable efforts to ensure that the transfer of such Information shall be
limited to the reasonable and necessary scope. By receiving an Award hereunder, Grantee acknowledges and agrees that the Information
is provided at Grantee’s free will and Grantee consents to the storage and transfer of the Information as set forth above.

 

16.5.
                                
Prohibition on Executive Officer Loans. Notwithstanding any other provision of the Plan to the contrary, no Grantee who
is a member of the Board or an “executive officer” of the Company within the meaning of Section 13(k) of the Exchange
Act shall be permitted to make payment with respect to any Awards granted under the Plan, or continue any extension of credit
with respect to such payment, with a loan from the Company or a loan arranged by the Company in violation of Section 13(k) of
the Exchange Act.

 

16.6.
                                
Clawback Provisions. All Awards (including the gross amount of any proceeds, gains or other economic benefit the Grantee
actually or constructively receives upon receipt or exercise of any Award or the receipt or resale of any Shares underlying the
Award) will be subject to recoupment by the Company to the extent required to comply with Applicable Law or any policy of the
Company (subject to Applicable Law) providing for the reimbursement of incentive compensation, whether or not such policy was
in place at the time of grant of an Award.

     26

     

    

17.          AGREEMENT
REGARDING TAXES; DISCLAIMER. 

 

17.1.
                                
If the Company shall so require, as a condition of exercise or (if applicable) vesting of an Award, the release of Shares by the
Trustee or the vesting or settlement of an Award, a Grantee shall agree that, no later than the date of such occurrence, the Grantee
will pay to the Company (or the Trustee, as applicable) or make arrangements satisfactory to the Company and the Trustee (if applicable)
regarding payment of any applicable taxes and compulsory payments of any kind required by Applicable Law to be withheld or paid.

 

17.2.
                                
TAX LIABILITY. ALL TAX CONSEQUENCES UNDER ANY APPLICABLE LAW WHICH MAY ARISE FROM THE GRANT OF ANY AWARDS OR THE EXERCISE
OR (IF APPLICABLE) VESTING THEREOF, THE SALE OR DISPOSITION OF ANY SHARES GRANTED HEREUNDER OR ISSUED UPON EXERCISE OR (IF APPLICABLE)
THE VESTING OF ANY AWARD, THE ASSUMPTION, SUBSTITUTION, CANCELLATION OR PAYMENT IN LIEU OF AWARDS OR FROM ANY OTHER ACTION IN
CONNECTION WITH THE FOREGOING (INCLUDING WITHOUT LIMITATION ANY TAXES AND COMPULSORY PAYMENTS, SUCH AS SOCIAL SECURITY OR HEALTH
TAX PAYABLE BY THE GRANTEE OR THE COMPANY IN CONNECTION THEREWITH) SHALL BE BORNE AND PAID SOLELY BY THE GRANTEE, AND THE GRANTEE
SHALL INDEMNIFY THE COMPANY, ITS SUBSIDIARIES AND AFFILIATES AND THE TRUSTEE, AND SHALL HOLD THEM HARMLESS AGAINST AND FROM ANY
LIABILITY FOR ANY SUCH TAX OR PAYMENT OR ANY PENALTY, INTEREST OR INDEXATION THEREON. EACH GRANTEE AGREES TO, AND UNDERTAKES TO
COMPLY WITH, ANY RULING, SETTLEMENT, CLOSING AGREEMENT OR OTHER SIMILAR AGREEMENT OR ARRANGEMENT WITH ANY TAX AUTHORITY IN CONNECTION
WITH THE FOREGOING WHICH IS APPROVED BY THE COMPANY.

 

17.3.
                                
NO TAX ADVICE. THE GRANTEE IS ADVISED TO CONSULT WITH A TAX ADVISOR WITH RESPECT TO THE TAX CONSEQUENCES OF RECEIVING,
EXERCISING OR DISPOSING OF AWARDS HEREUNDER. THE COMPANY DOES NOT ASSUME ANY RESPONSIBILITY TO ADVISE THE GRANTEE ON SUCH MATTERS,
WHICH SHALL REMAIN SOLELY THE RESPONSIBILITY OF THE GRANTEE.

 

17.4.
                                 TAX
TREATMENT. THE COMPANY AND ITS AFFILIATES (INCLUDING THE EMPLOYER) DO NOT UNDERTAKE OR ASSUME ANY LIABILITY OR
RESPONSIBILITY TO THE EFFECT THAT ANY AWARD SHALL QUALIFY WITH ANY PARTICULAR TAX REGIME OR RULES APPLYING TO PARTICULAR TAX
TREATMENT, OR BENEFIT FROM ANY PARTICULAR TAX TREATMENT OR TAX ADVANTAGE OF ANY TYPE AND THE COMPANY AND ITS AFFILIATES
(INCLUDING THE EMPLOYER) SHALL BEAR NO LIABILITY IN CONNECTION WITH THE MANNER IN WHICH ANY AWARD IS TREATED FOR TAX
PURPOSES, REGARDLESS OF WHETHER THE AWARD WAS GRANTED OR WAS INTENDED TO QUALIFY UNDER ANY PARTICULAR TAX REGIME OR
TREATMENT. THIS PROVISION SHALL SUPERSEDE ANY TYPE OF AWARDS OR TAX QUALIFICATION INDICATED IN ANY CORPORATE RESOLUTION OR
AWARD AGREEMENT, WHICH SHALL AT ALL TIMES BE SUBJECT TO THE REQUIREMENTS OF APPLICABLE LAW. THE COMPANY AND ITS AFFILIATES
(INCLUDING THE EMPLOYER) DO NOT UNDERTAKE AND SHALL NOT BE REQUIRED TO TAKE ANY ACTION IN ORDER TO QUALIFY ANY AWARD WITH THE
REQUIREMENT OF ANY PARTICULAR TAX TREATMENT AND NO INDICATION IN ANY DOCUMENT TO THE EFFECT THAT ANY AWARD IS INTENDED TO
QUALIFY FOR ANY TAX TREATMENT SHALL IMPLY SUCH AN UNDERTAKING. THE COMPANY AND ITS AFFILIATES (INCLUDING THE EMPLOYER) DO NOT
UNDERTAKE TO REPORT FOR TAX PURPOSES ANY AWARD IN ANY PARTICULAR MANNER, INCLUDING IN ANY MANNER CONSISTENT WITH ANY
PARTICULAR TAX TREATMENT. NO ASSURANCE IS MADE BY THE COMPANY OR ANY OF ITS AFFILIATES (INCLUDING THE EMPLOYER) THAT ANY
PARTICULAR TAX TREATMENT ON THE DATE OF GRANT WILL CONTINUE TO EXIST OR THAT THE AWARD WOULD QUALIFY AT THE TIME OF EXERCISE,
VESTING OR DISPOSITION THEREOF WITH ANY PARTICULAR TAX TREATMENT. THE COMPANY AND ITS AFFILIATES (INCLUDING THE EMPLOYER)
SHALL NOT HAVE ANY LIABILITY OR OBLIGATION OF ANY NATURE IN THE EVENT THAT AN AWARD DOES NOT QUALIFY FOR ANY PARTICULAR TAX
TREATMENT, REGARDLESS WHETHER THE COMPANY COULD HAVE OR SHOULD HAVE TAKEN ANY ACTION TO CAUSE SUCH QUALIFICATION TO BE
MET AND SUCH QUALIFICATION REMAINS AT ALL TIMES AND UNDER ALL CIRCUMSTANCES AT THE RISK OF THE GRANTEE. THE COMPANY DOES NOT
UNDERTAKE OR ASSUME ANY LIABILITY TO CONTEST A DETERMINATION OR INTERPRETATION (WHETHER WRITTEN OR UNWRITTEN) OF ANY TAX
AUTHORITIES, INCLUDING IN RESPECT OF THE QUALIFICATION UNDER ANY PARTICULAR TAX REGIME OR RULES APPLYING TO PARTICULAR TAX
TREATMENT. IF THE AWARDS DO NOT QUALIFY UNDER ANY PARTICULAR TAX TREATMENT IT COULD RESULT IN ADVERSE TAX CONSEQUENCES TO THE
GRANTEE.

     27

     

    

17.5.
                                
The Company or any Subsidiary or other Affiliate thereof (including the Employer) may take such action as it may deem necessary
or appropriate, in its discretion, for the purpose of or in connection with withholding of any taxes and compulsory payments which
the Trustee, the Company or any Subsidiary or other Affiliate thereof (including the Employer) (or any applicable agent thereof)
is required by any Applicable Law to withhold in connection with any Awards, including, without limitations, any income tax, social
benefits, social insurance, health tax, pension, payroll tax, fringe benefits, excise tax, payment on account or other tax-related
items related to the Grantee’s participation in the Plan and applicable by law to the Grantee (collectively, “Withholding
Obligations”). Such actions may include (i) requiring a Grantees to remit to the Company or the Employer in cash an
amount sufficient to satisfy such Withholding Obligations and any other taxes and compulsory payments, payable by the Company
or the Employer in connection with the Award or the exercise or (if applicable) the vesting thereof; (ii) subject to Applicable
Law, allowing the Grantees to surrender Shares to the Company, in an amount that at such time, reflects a value that the Committee
determines to be sufficient to satisfy such Withholding Obligations; (iii) withholding Shares otherwise issuable upon the exercise
of an Award at a value which is determined by the Company to be sufficient to satisfy such Withholding Obligations; (iv) allowing
Grantees to satisfy all or part of the Withholding Obligations by the delivery (on a form prescribed by the Company) of an irrevocable
direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the sales proceeds to the
Company or the Trustee; or (iv) any combination of the foregoing. The Company shall not be obligated to allow the exercise or
vesting of any Award by or on behalf of a Grantee until all tax consequences arising therefrom are resolved in a manner acceptable
to the Company.

 

17.6.
                                
Each Grantee shall notify the Company in writing promptly and in any event within ten (10) days after the date on which such Grantee
first obtains knowledge of any tax authority inquiry, audit, assertion, determination, investigation, or question relating in
any manner to the Awards granted or received hereunder or Shares issued thereunder and shall continuously inform the Company of
any developments, proceedings, discussions and negotiations relating to such matter, and shall allow the Company and its representatives
to participate in any proceedings and discussions concerning such matters. Upon request, a Grantee shall provide to the Company
any information or document relating to any matter described in the preceding sentence, which the Company, in its discretion,
requires.

 

17.7.
                                
With respect to 102 Non-Trustee Options, if the Grantee ceases to be employed by the Company, Parent, Subsidiary or any Affiliate
(including the Employer), the Grantee shall extend to the Company and/or the Employer a security or guarantee for the payment
of taxes due at the time of sale of Shares, all in accordance with the provisions of Section 102 of the Ordinance and the Rules.

 

17.8.
                                
If a Grantee makes an election under Section 83(b) of the Code to be taxed with respect to an Award as of the date of transfer
of Shares rather than as of the date or dates upon which the Grantee would otherwise be taxable under Section 83(a) of the Code,
such Grantee shall deliver a copy of such election to the Company upon or prior to the filing such election with the U.S. Internal
Revenue Service. Neither the Company nor any Affiliate (including the Employer) shall have any liability or responsibility relating
to or arising out of the filing or not filing of any such election or any defects in its construction.

 

18.         
RIGHTS AS A SHAREHOLDER; VOTING AND DIVIDENDS.

 

18.1.
                                 Subject
to Section 11.4, a Grantee shall have no rights as a shareholder of the Company with respect to any Shares covered by an
Award until the Grantee shall have exercised or (as applicable) vests in the Award, paid any Exercise Price therefor and
becomes the record holder of the subject Shares. In the case of 102 Awards, the Trustee shall have no rights as a shareholder
of the Company with respect to the Shares covered by such Award until the Trustee becomes the record holder for such Shares
for the Grantee’s benefit, and the Grantee shall not be deemed to be a shareholder and shall have no rights as a
shareholder of the Company with respect to the Shares covered by the Award until the date of the release of such Shares from
the Trustee to the Grantee and the transfer of record ownership of such Shares to the Grantee (provided, however,
that the Grantee shall be entitled to receive from the Trustee any cash dividend or distribution made on account of the
Shares held by the Trustee for such Grantee’s benefit, subject to any tax withholding and compulsory payment). No
adjustment shall be made for dividends (ordinary or extraordinary, whether in shares or other securities, cash or other
property, or rights, or any combination thereof) or distribution of other rights for which the record date is prior to the
date on which the Grantee or Trustee (as applicable) becomes the record holder of the Shares covered by an Award, except as
provided in Section 14 hereof.

     28

     

    

18.2.
                                
With respect to all Awards issued in the form of Shares hereunder or upon the exercise or (if applicable) the vesting of Awards hereunder,
any and all voting rights attached to such Shares shall be subject to Section 18.1, and the Grantee shall be entitled to receive dividends
distributed with respect to such Shares, subject to the provisions of the Company’s Articles of Association, as amended from time
to time, and subject to any Applicable Law.

 

18.3.

                                 The Company may, but shall not be obligated to, register or qualify the sale of Shares under any applicable securities law or
any other Applicable Law.

 

19.         
NO REPRESENTATION BY COMPANY. 

 

By
granting the Awards, the Company is not, and shall not be deemed as, making any representation or warranties to the Grantee regarding
the Company, its business affairs, its prospects or the future value of its Shares and such representations and warranties are
hereby disclaimed. The Company shall not be required to provide to any Grantee any information, documents or material in connection
with the Grantee’s considering an exercise of an Award. To the extent that any information, documents or materials are provided,
the Company shall have no liability with respect thereto. Any decision by a Grantee to exercise an Award shall solely be at the
risk of the Grantee.

 

20.        
NO RETENTION RIGHTS.

 

Nothing
in this Plan, any Award Agreement or in any Award granted or agreement entered into pursuant hereto shall confer upon any Grantee
the right to continue in the employ of, or be in the service of the Company or any Subsidiary or other Affiliate thereof as a
Service Provider or to be entitled to any remuneration or benefits not set forth in this Plan or such agreement, or to interfere
with or limit in any way the right of the Company or any such Subsidiary or other Affiliate thereof to terminate such Grantee’s
employment or service (including, any right of the Company or any of its Affiliates to immediately cease the Grantee’s employment
or service or to shorten all or part of the notice period, regardless of whether notice of termination was given by the Company
or its Affiliates or by the Grantee). Awards granted under this Plan shall not be affected by any change in duties or position
of a Grantee, subject to Sections 6.6 through 6.8. No Grantee shall be entitled to claim and the Grantee hereby waives any claim
against the Company or any Subsidiary or other Affiliate thereof that he or she was prevented from continuing to vest Awards as
of the date of termination of his or her employment with, or services to, the Company or any Subsidiary or other Affiliate thereof.
No Grantee shall be entitled to any compensation in respect of the Awards which would have vested had such Grantee’s employment
or engagement with the Company (or any Subsidiary or other Affiliate thereof) not been terminated.

 

21.         PERIOD DURING WHICH AWARDS MAY BE GRANTED. 

 

Awards
may be granted pursuant to this Plan from time to time from the Effective Date and until this Plan is terminated by the Board,
except that Incentive Stock Options shall not be granted following the ten (10) year anniversary of the earlier of the date this
Plan was approved by (x) the Board or (y) the shareholders of the Company. From and after the date the Board terminates this Plan,
no grants of Awards may be made and this Plan shall continue to be in full force and effect with respect to Awards or Shares issued
thereunder that remain outstanding.

     29

     

    

22.          AMENDMENT
OF THIS PLAN AND AWARDS. 

 

22.1.
                                
The Board at any time and from time to time may suspend, terminate, modify or amend this Plan, whether retroactively or prospectively.
Any amendment effected in accordance with this Section shall be binding upon all Grantees and all Awards, whether granted prior
to or after the date of such amendment, and without the need to obtain the consent of any Grantee. No termination or amendment
of this Plan shall affect any then outstanding Award unless expressly provided by the Board.

 

22.2.
                                
Subject to changes in Applicable Law that would permit otherwise, without the approval of the Company’s shareholders, there
shall be (i) no increase in the maximum aggregate number of Shares that may be issued under this Plan as Incentive Stock Options
(except by operation of the provisions of Section 14.1), (ii) no change in the class of persons eligible to receive Incentive
Stock Options, and (iii) no other amendment of this Plan that would require approval of the Company’s shareholders under
any Applicable Law or the rules of the applicable stock market or exchange, if any, on which the Shares are principally quoted
or traded. Unless not permitted by Applicable Law, if the grant of an Award is subject to approval by shareholders, the date of
grant of the Award shall be determined as if the Award had not been subject to such approval. Failure to obtain approval by the
shareholders shall not in any way derogate from the valid and binding effect of any grant of an Award that is not an Incentive
Stock Option.

 

22.3.

                                 The Board or the Committee at any time and from time to time may modify or amend any Award theretofore granted, including any
Award Agreement, whether retroactively or prospectively.

 

23.          APPROVAL.

 

23.1.
                                
This Plan shall take effect upon its adoption by the Board and approval by the shareholders within twelve (12) months before or
after adoption by the Board (the “Effective Date”).

 

23.2.
                                
102 Awards are conditional upon the filing with or approval by the ITA, if required, as set forth in Section 9.4. Failure to so
file or obtain such approval shall not in any way derogate from the valid and binding effect of any grant of an Award, which is
not a 102 Award.

 

24.          RULES
PARTICULAR TO SPECIFIC COUNTRIES; SECTION 409A. 

 

24.1.
                                
Notwithstanding anything herein to the contrary, the terms and conditions of this Plan may be supplemented or amended with respect
to a particular country or tax regime by means of a sub-plan or an appendix to this Plan, and to the extent that the terms and
conditions set forth in any sub-plan or appendix conflict with any provisions of this Plan, the provisions of such sub-plan or
appendix shall govern with respect to Awards made pursuant thereto. Terms and conditions set forth in such sub-plan or appendix
shall apply only to Awards granted to Grantees under the jurisdiction of the specific country or such other tax regime that is
the subject of such sub-plan or appendix and shall not apply to Awards issued to a Grantee not under the jurisdiction of such
country or such other tax regime. The adoption of any such sub-plan or appendix shall be subject to the approval of the Board
or the Committee, and if and to the extent determined by the Committee to be required by Applicable Law in connection with the
application of certain tax treatment, pursuant to applicable stock exchange rules or regulations or otherwise, then also the approval
of the shareholders of the Company at the required majority.

 

24.2.
                                
This Section 24.2 shall only apply to Awards granted to Grantees who are subject to United States Federal income tax.

 

24.2.1
     It is the intention of the Company that no Award shall be deferred compensation subject to Section 409A
of the Code unless and to the extent that the Committee specifically determines otherwise as provided in Section 24.2.2, and the
Plan and the terms and conditions of all Awards shall be interpreted and administered accordingly.

 

24.2.2
      The terms and conditions governing any Awards that the Committee determines will be subject to
Section 409A of the Code, including any rules for payment or elective or mandatory deferral of the payment or delivery of
Shares or cash pursuant thereto, and any rules regarding treatment of such Awards in the event of a Merger/Sale, shall be set
forth in the applicable Award Agreement and shall be intended to comply in all respects with Section 409A of the Code, and
the Plan and the terms and conditions of such Awards shall be interpreted and administered accordingly.

     30

     

    

24.2.3     
The Company shall have complete discretion to interpret and construe the Plan and any Award Agreement in any manner that establishes
an exemption from (or compliance with) the requirements of Section 409A of the Code. If for any reason, such as imprecision in
drafting, any provision of the Plan and/or any Award Agreement does not accurately reflect its intended establishment of an exemption
from (or compliance with) Section 409A of the Code, as demonstrated by consistent interpretations or other evidence of intent,
such provision shall be considered ambiguous as to its exemption from (or compliance with) Section 409A of the Code and shall
be interpreted by the Company in a manner consistent with such intent, as determined in the discretion of the Company. If, notwithstanding
the foregoing provisions of this Section 24.2.3, any provision of the Plan or any such agreement would cause a Grantee to incur
any additional tax or interest under Section 409A of the Code, the Company may reform such provision in a manner intended to avoid
the incurrence by such Grantee of any such additional tax or interest; provided that the Company shall maintain, to the
extent reasonably practicable, the original intent and economic benefit to the Grantee of the applicable provision without violating
the provisions of Section 409A of the Code. For the avoidance of doubt, no provision of this Plan shall be interpreted or construed
to transfer any liability for failure to comply with the requirements of Section 409A from any Grantee or any other individual
to the Company or any of its affiliates, employees or agents. 

 

24.2.4
      Notwithstanding any other provision in the Plan, any Award Agreement, or any other written document establishing the terms and
conditions of an Award, if any Grantee is a “specified employee,” within the meaning of Section 409A of the Code,
as of the date of his or her “separation from service” (as defined under Section 409A of the Code), then, to the extent
required by Treasury Regulation Section 1.409A-3(i)(2) (or any successor provision), any payment made to such Grantee on account
of his or her separation from service shall not be made before a date that is six months after the date of his or her separation
from service. The Committee may elect any of the methods of applying this rule that are permitted under Treasury Regulation Section
1.409A-3(i)(2)(ii) (or any successor provision). 

 

24.2.5     
Notwithstanding any other provision of this Section 24.2 to the contrary, although the Company intends to administer the Plan
so that Awards will be exempt from, or will comply with, the requirements of Section 409A of the Code, the Company does not warrant
that any Award under the Plan will qualify for favorable tax treatment under Section 409A of the Code or any other provision of
federal, state, local, or non-United States law. The Company shall not be liable to any Grantee for any tax, interest, or penalties
the Grantee might owe as a result of the grant, holding, vesting, exercise, or payment of any Award under the Plan. 

 

25.          GOVERNING
LAW; JURISDICTION. 

 

This
Plan and all determinations made and actions taken pursuant hereto shall be governed by the laws of the State of Israel, except
with respect to matters that are subject to tax laws, regulations and rules of any specific jurisdiction, which shall be governed
by the respective laws, regulations and rules of such jurisdiction. Certain definitions, which refer to laws other than the laws
of such jurisdiction, shall be construed in accordance with such other laws. The competent courts located in Tel-Aviv-Jaffa, Israel
shall have exclusive jurisdiction over any dispute arising out of or in connection with this Plan and any Award granted hereunder.
By signing any Award Agreement or any other agreement relating to an Award, each Grantee irrevocably submits to such exclusive
jurisdiction.

 

26.          
NON-EXCLUSIVITY OF THIS PLAN. 

 

The
adoption of this Plan shall not be construed as creating any limitations on the power or authority of the Company to adopt
such other or additional incentive or other compensation arrangements of whatever nature as the Company may deem necessary or
desirable or preclude or limit the continuation of any other plan, practice or arrangement for the payment of compensation or
fringe benefits to employees generally, or to any class or group of employees, which the Company or any Affiliate now has or
will lawfully put into effect, including any retirement, pension, savings and stock purchase plan, insurance, death and
disability benefits and executive short-term or long-term incentive plans.

     31

     

    

27.
          MISCELLANEOUS. 

 

27.1.                                 Survival. The Grantee shall be bound by and the Shares issued upon exercise or (if applicable) the vesting of any Awards
granted hereunder shall remain subject to this Plan after the exercise or (if applicable) the vesting of Awards, in accordance
with the terms of this Plan, whether or not the Grantee is then or at any time thereafter employed or engaged by the Company or
any of its Affiliates.

 

27.2.                               
Additional Terms. Each Award awarded under this Plan may contain such other terms and conditions not inconsistent with
this Plan as may be determined by the Committee, in its sole discretion.

 

27.3.                                
Fractional Shares. No fractional Share shall be issuable upon exercise or vesting of any Award and the number of Shares
to be issued shall be rounded down to the nearest whole Share (and the Company shall have liability to compensate for such fractional
shares at any time), with in any Share remaining at the last vesting date due to such rounding to be issued upon exercise at such
last vesting date.

 

27.4.                                
Severability. If any provision of this Plan, any Award Agreement or any other agreement entered into in connection with
an Award shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions
hereof and thereof shall be severable and enforceable in accordance with their terms, and all provisions shall remain enforceable
in any other jurisdiction. In addition, if any particular provision contained in this Plan, any Award Agreement or any other agreement
entered into in connection with an Award shall for any reason be held to be excessively broad as to duration, geographic scope,
activity or subject, it shall be construed by limiting and reducing such provision as to such characteristic so that the provision
is enforceable to fullest extent compatible with Applicable Law as it shall then appear.

 

27.5.                                
Captions and Titles. The use of captions and titles in this Plan or any Award Agreement or any other agreement entered
into in connection with an Award is for the convenience of reference only and shall not affect the meaning or interpretation of
any provision of this Plan or such agreement. 

 

*        *        * 

     32

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