Document:

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT
(this “Agreement”) is made and entered as of December 1, 2010 (the “Effective Date”),
by and between Unitek USA, LLC, a Delaware limited liability company (“Unitek”), and Elizabeth Downey (“Employee”).
This Agreement amends and restates the Employment Agreement, dated July 5, 2009, between Employee and the Company and shall be
effective from the Effective Date.

 

WHEREAS, Unitek desires
to continue the employment of Employee in an executive capacity, and Employee desires to be employed by Unitek in such capacity,
under the terms and pursuant to the conditions set forth herein.

 

NOW, THEREFORE, in consideration
of the promises, mutual covenants and agreements hereinafter contained and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, Unitek and Employee hereby agree as follows:

 

1.      Definitions.
   As used in this Agreement, the words and terms hereinafter defined have the respective meanings ascribed to them.

 

(a)          “Affiliate”
means, with respect to any Person, any Person who, directly or indirectly, controls, is controlled by or is under common control
with that Person, including such Person’s subsidiaries; provided that for purposes of this definition, “control”
when used with respect to any Person means the power to direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise.

 

(b)          “Board”
means the Board of Directors of Unitek.

 

(c)          “Cause”
means the occurrence of one or more of the following events:

  

(i)          Employee
has (A) committed willful misconduct, gross insubordination, and/or gross negligence in the performance of his duties to Unitek
or any of its Affiliates, (B) willfully disregarded Unitek’s code of conduct, employee’s manual or any reasonable and
lawful policies applicable to all of its senior management or (C) willfully failed to comply with the reasonable and lawful
directives of the Board, and, in each case, such action, inaction or failure has had, or could reasonably be expected to have,
a materially detrimental effect on Unitek or any of its Affiliates as determined in good faith by the Board; or

 

(ii)         Employee
has breached any material term or provision of this Agreement or any other written agreement between Employee and Unitek or any
of its Affiliates, which breach is not cured by Employee within ten (10) business days after receipt of written notice of such
breach given by Unitek; provided, however, that such notice and cure period shall not be required for repeated offenses;
or

 

(iii)        the
Board has determined in good faith, after conducting an investigation, that Employee has committed an act of fraud or theft against
Unitek or any of its Affiliates or any wrongful act or omission intended to result in the personal enrichment of Employee or of
Employee’s spouse, parents or descendants (whether by blood or adoption and including stepchildren) or the spouses of such
individuals in violation of law or of Employee’s duty of loyalty to Unitek or any of its Affiliates at the expense, directly
or indirectly, of Unitek or any of its Affiliates, and such act or omission was not disclosed to and approved by the Board prior
to taking such act or omission; or

 

    	 

    	 

    

 

(iv)         Employee
has been convicted, or entered into a plea of nolo contendere, of any felony or other offense involving fraud or moral turpitude,
or convicted, or entered into a plea of nolo contendere, of any other offense that will, in the good faith opinion of the
Board, adversely affect Unitek’s or any of its Affiliates’ prospects or reputation or Employee’s ability to perform
Employee’s obligations or duties to Unitek or any of its Affiliates.

 

(d)          “Complete
Disability” means the inability of Employee, due to illness or accident or other mental or physical incapacity, as determined
in writing by a licensed physician, to perform any of his obligations under this Agreement for a period of one hundred eighty (180)
calendar days in the aggregate over a period of three hundred sixty (360) consecutive calendar days, such “Complete Disability”
to become effective upon the expiration of such one hundred eightieth (180th) day.

 

(e)          
“Good Reason” means the occurrence of one or more of the following, subject to Unitek’s right to cure
the circumstances giving rise to such occurrence within twenty (20) business days of Unitek’s receipt of written notice in
accordance with Section 11: (i) assignment to Employee of any duties inconsistent, in the aggregate, in any material
respect with this Agreement; (ii) a reduction in the Base Salary (as defined below) of Employee (other than a reduction of base
salary of all Unitek senior management due to poor financial performance of Unitek or any of its Affiliates); (iii) any material
breach of this Agreement by Unitek, which is not cured by Unitek within twenty (20) business days after receipt of written notice
of such breach given by Employee.

 

(f)          “Confidential
Information” means any information (i) in any form created by Unitek’s employees, or any employees of its Affiliates
(including such information created by Employee during his course of employment with Unitek), consultants or agents or otherwise
developed or acquired by Unitek or any of its Affiliates, regardless of the medium or media by which such information is recorded
or communicated, that is known by or in the possession of Employee being neither in the public domain nor routinely available to
third parties, and (ii) if directly or indirectly disclosed to Unitek’s or any of its Affiliates’ competitors
would (A) assist such competitors in competing against Unitek or any of its Affiliates, (B) diminish or eliminate any competitive
advantage enjoyed by Unitek or any of its Affiliates, (C) cause financial injury or loss to Unitek or any of its Affiliates or
(D) reveal proprietary information or trade secrets of Unitek or any of its Affiliates; provided, however, the term
“Confidential Information” does not include any information that (i) is publicly available or (ii) becomes available
without violation of this Agreement.

 

(g)          
“Person” means any individual, firm, partnership, joint venture, venture capital fund, association, trust, trustee,
executor, administrator, legal personal representative, estate, group, corporate body (including a limited liability company and
an unlimited liability company), corporation, unincorporated association or organization, governmental authority, syndicate or
other entity, whether or not having legal status.

 

(h)          “Section
409A” means Section 409A of the Internal Revenue Code and all rules and regulations promulgated thereunder.

 

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(i)                  “Severance
Period” means a period of (i) eighteen (18) months immediately after the date of termination of employment 

 

2.     Employment.
   Subject to the terms and pursuant to the conditions in this Agreement, Unitek hereby employs Employee during the Term (as defined
below) to serve as the Chief Administrative Officer of Unitek USA. From time to time, Executive also may be designated to such
other additional offices within the Company or its subsidiaries and affiliates as may be necessary or appropriate for the convenience
of the business of the Company and its subsidiaries and affiliates.

 

3.     Duties
of Employee.    Employee shall have such authority and perform such duties assigned to Employee by the Board and as are generally
associated with the duties and authority of a chief administrative officer of a company in size and scope similar to Unitek and
its Affiliates would be expected to perform. In the performance of his duties hereunder, Employee shall report regularly and directly
to the CEO of Unitek. Employee shall devote all of his business time and effort to Unitek and its Affiliates and Employee
shall not be required to report to any other individual.

 

4.     Acceptance
of Employment.    Employee hereby unconditionally accepts the employment set forth hereunder, under the terms and pursuant to
the conditions set forth in this Agreement. Employee hereby covenants and agrees that, during the Term, Employee shall not, without
the prior written approval of the Board, become employed by or engaged in any business activity other than that of Unitek and its
Affiliates. Notwithstanding the foregoing, Employee may manage personal investments or engage in charitable activities that do
not substantially interfere with Employee’s obligations under this Agreement.

 

5.     Term.
   Employee’s employment by Unitek under this Agreement shall commence on the Effective Date (except as otherwise described
in Section and shall continue for three (3) years from the Effective Date, subject to termination in accordance with the
provisions of this Agreement. The period of Employee’s employment hereunder shall be referred to herein as the “Term”.
Additionally, at the expiration of the Term, the Agreement will continue, automatically, on a year-to-year basis, unless one party
gives the other party written notice of intent not to continue the contract at least one hundred and eighty (180) days before the
expiration of the initial Term or any continued Term then in effect.

 

6.     Compensation
to Employee.    For and in complete consideration for Employee’s full and faithful performance of his duties under this
Agreement, Unitek hereby covenants and agrees to pay to Employee, and Employee hereby covenants and agrees to accept from Unitek,
the following items of compensation:

 

(a)          Base
Salary.   During the Term, Unitek shall pay Employee an annual base salary of $300,000 (the “Base Salary”),
effective as of the Effective Date, payable in equal and regular installments (but not less often than monthly) in accordance with
Unitek’s then current payroll practices and pro-rated for any partial periods, if any, based on the actual number of calendar
days in the applicable period.. The Base Salary may be increased, but shall not be decreased (except as expressly provided herein),
at any time during the Term in the sole discretion of the Board,

 

(b)          Incentive
Bonus.   Employee shall be eligible to receive an incentive compensation bonus (a “Bonus”) pursuant to an
incentive bonus program to be implemented by Unitek. Under such incentive bonus program, Employee shall be eligible to receive
a target Bonus of $200,000 per calendar year of which, (A) 50% shall be conditioned upon the achievement of annual budget
that is (i) developed by Unitek and Employee and (ii) approved by the Board or an appropriate committee thereof, and (B) 50% based
on Board discretion or such committee thereof. Any such Bonus shall be payable by Unitek to Employee in accordance with the terms
of the applicable incentive bonus program, which is incorporated herein. Notwithstanding anything to the contrary herein, (i) any
Bonus shall be payable as promptly as possible following determination or calculation, but in any event within thirty (30) days
following the delivery of audited financial statements for the prior fiscal year.

 

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(c)          Employee
Benefit Plans. During the Term, Employee, if otherwise eligible, shall be included in any pension plans, retirement plans,
company life insurance plans, medical and/or hospitalization plans, bonus plans, stock option plans and/or any and all other benefit
or incentive plans which may be placed in effect by Unitek for its senior management (and a no less favorable basis than other
member of senior management), including, without limitation, a non-qualified plan to be established because Employee and other
senior management members are prohibited from participating in any 401(k) plan placed into effect for the general employee population
of Unitek. The benefits provided for in this Section 6(c) shall be subject to Unitek’s policies in effect from time
to time, which may be amended by Unitek in its sole discretion, and in the case of insured benefits, to the applicable contract
of insurance.

 

(d)          Options.
The undersigned Employee has previously been granted Options pursuant to the Agreement dated September 2007, January 2008, June
2008 and July 2008 which is incorporated herein. Except as expressly set forth herein with respect to events giving rise to
accelerated vesting, nothing in this Agreement shall cancel, change, modify, and/or affect the Employee’s entitlement to
those Options or any equity or other securities (i) offered by Unitek and accepted by Employee in replacement, exchange or substitution
therefor, and (ii) any other equity or other securities awarded or granted to Employee under any equity plan of Unitek (collectively,
the securities in clauses (i) and (ii) are referred to herein as the “Awarded Securities”).

 

(e)          Expense
Reimbursement. During the Term, Unitek shall either pay directly or reimburse Employee for Employee’s reasonable and
documented expenses incurred for the benefit of Unitek in accordance with Unitek’s then current policy regarding expenditures
and reimbursement.

 

(f)          Vacations
and Holidays. During the Term and commencing as of the Effective Date, Employee shall be entitled to annual paid vacation leave
in accordance with Unitek’s standard paid time off policy then in effect for senior management. Notwithstanding the foregoing,
Executive shall be entitled to no fewer than four (4) weeks of paid vacation during each fiscal year (or portion thereof, with
appropriate proration) of the Term.

 

7.     Termination.
  Employee’s employment with Unitek may be terminated in accordance with the provisions set forth below.

 

(a)          Death
or Disability of Employee.   Employee’s employment with Unitek shall terminate upon the death or Complete Disability of
Employee; provided, however, that in the event of termination due to death or Complete Disability, (A) Unitek shall
pay to Employee or his estate, custodian, conservator or trustee, as applicable, as soon as practicable (allowing Unitek a reasonable
period of time to calculate such amounts) any and all of Employee’s salary, benefits and other compensation earned through
the date of such termination of employment and (B) Unitek shall, subject to execution and delivery by Employee or his estate, custodian,
conservator or trustee, as applicable, of a release in substantially the form attached hereto as Exhibit A (with such
changes as may reasonably be required by Unitek to reflect changes in law or the circumstances surrounding Employee’s release,
the “Release”), which Release shall not have been revoked by Employee or his estate, custodian, conservator
or trustee, as applicable, pursuant to the terms thereof (and all applicable statutory revocation periods have expired), and subject
to Employee’s continued compliance with Section 8 and Section 9, (x) pay to Employee, or his estate, custodian,
conservator or trustee, as applicable, an amount equal to his Base Salary (at the rate then in effect) that would be payable for
a period of eighteen months after the date of such termination of employment, payable to Employee in accordance with Unitek’s
then current payroll practices and (y) assess, reasonably promptly following such termination of employment and as of the
date of such termination, the operational and financial milestones established for the Bonus for the calendar year in which Employee
is so terminated; and to the extent such operational and financial milestones are being achieved at the time of such termination,
Unitek shall pay Employee or his estate, custodian, conservator or trustee, as applicable, the pro-rata portion of such Bonus in
accordance with Unitek’s then current bonus payment practices.

 

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(b)          Cause
or Without Good Reason.   Employee’s employment with Unitek shall terminate upon (i) Unitek giving written notice to Employee
of the termination of such employment for Cause or (ii) Employee giving written notice to Unitek of the termination of such employment
without Good Reason; provided, however, that in the event of termination for Cause or without Good Reason, Unitek shall
pay to Employee as soon as practicable (allowing Unitek a reasonable period of time to calculate such amounts) any and all salary,
reimbursable business expenses, vacation pay (to the extent earned by not paid), benefits and other compensation earned through
the date of such termination of employment. Employee shall not be entitled to any additional compensation other than the compensation
aforementioned in this paragraph.

 

(i)          Expiration
of Agreement. Employee’s employment with Unitek shall terminate upon expiration of this Agreement; provided,
however, that in the event of termination of employment upon expiration of the Agreement, (A) Unitek shall pay to Employee
as soon as practicable (allowing Unitek a reasonable period of time to calculate such amounts) any and all salary, benefits and
other compensation earned through the date of such termination of employment (A) Unitek shall pay to Employee as soon as practicable
(allowing Unitek a reasonable period of time to calculate such amounts) any and all of Employee’s salary, benefits and other
compensation earned through the date of such termination of employment and (B) Unitek shall, subject to Employee’s execution
and delivery of a Release, which Release shall not have been revoked by Employee pursuant to the terms thereof (and all applicable
statutory revocation periods have expired), and subject to Employee’s continued compliance with Section 8 and Section
9, (x) pay to Employee an amount equal to his Base Salary (at the rate then in effect) for the Severance Period, payable to
Employee in accordance with Unitek’s then current payroll practices and (y) assess, reasonably promptly following such
termination of employment and as of the date of such termination, the operational and financial milestones established for the
Bonus for the calendar year in which Employee is so terminated; and to the extent such operational and financial milestones are
being achieved at the time of such termination, Unitek shall pay Employee the applicable pro-rata portion of such Bonus in accordance
with Unitek’s then current bonus payment practices. In addition, 100% of all of Employee’s unvested Awarded Securities
shall accelerate, vest and pay as of the date of Employee’s termination of employment upon expiration of the Agreement.

 

(c)          
For termination upon expiration of the Agreement to occur, the parties must comply with paragraph 5 of this Agreement.

 

(d)          Without
Cause; For Good Reason.

 

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(i)          Without
Cause.  Employee’s employment with Unitek shall terminate upon Unitek giving written notice to Employee of the termination
of such employment without Cause; provided, however, in the event of termination without Cause, (A) Unitek shall
pay to Employee as soon as practicable (allowing Unitek a reasonable period of time to calculate such amounts) any and all of Employee’s
salary, benefits and other compensation earned through the date of such termination of employment and (B) Unitek shall, subject
to Employee’s execution and delivery of a Release, which Release shall not have been revoked by Employee pursuant to the
terms thereof (and all applicable statutory revocation periods have expired), and subject to Employee’s continued compliance
with Section 8 and Section 9, (x) pay to Employee an amount equal to his Base Salary (at the rate then in effect)
for the Severance Period, payable to Employee in accordance with Unitek’s then current payroll practices and (y) assess,
reasonably promptly following such termination of employment and as of the date of such termination, the operational and financial
milestones established for the Bonus for the calendar year in which Employee is so terminated; and to the extent such operational
and financial milestones are being achieved at the time of such termination, Unitek shall pay Employee the applicable pro-rata
portion of such Bonus in accordance with Unitek’s then current bonus payment practices. In addition, 100% of all of Employee’s
unvested Awarded Securities shall accelerate, vest and pay as of the date of Employee’s termination of employment without
Cause.

 

(ii)         For
Good Reason.   Employee’s employment with Unitek shall terminate upon Employee giving written notice to Unitek of the termination
of such employment for Good Reason (so long as such notice is given within thirty (30) days of the occurrence of such Good Reason
or, if later, within thirty (30) days after Executive in the exercise of ordinary care shall first become aware of the occurrence
of such Good Reason); provided, that Executive’s continued employment after the occurrence of any Good Reason
to such proper notice date shall not constitute consent to, or a waiver of rights with respect to, any such occurrence of Good
Reason; and provided, further, however, in the event of termination for Good Reason, (A) Unitek shall
pay to Employee as soon as practicable (allowing Unitek a reasonable period of time to calculate such amounts) any and all of Employee’s
salary, benefits and other compensation earned through the date of such termination of employment and (B) Unitek shall, subject
to Employee’s execution and delivery of the Release, which Release shall not have been revoked by Employee pursuant to the
terms thereof (and all applicable statutory revocation periods have expired), and subject to Employee’s continued compliance
with Section 8 and Section 9, (x) pay to Employee an amount equal to his Base Salary (at the rate then in effect)
for the Severance Period, payable to Employee in accordance with Unitek’s then current payroll practices and (y) assess,
reasonably promptly following such termination of employment and as of the date of such termination, the operational and financial
milestones established for the Bonus for the calendar year in which Employee is so terminated; and to the extent such operational
and financial milestones are being achieved at the time of such termination, Unitek shall pay Employee the applicable pro-rata
portion of such Bonus in accordance with Unitek’s then current bonus payment practices. In addition, 100% of all of Employee’s
unvested Awarded Securities shall accelerate, vest and pay as of the date of Employee’s termination of employment for Good
Reason.

 

(e)      COBRA.
   If termination of the Employee occurs pursuant to Paragraph 7(a), (c), (d)(i) and/or (d)(ii), for the duration of the Severance
Period the Company shall maintain in full force and effect (including paying 100% of the expense therefor for the person(s) benefitted
thereby) for the continued benefit of Employee, Employee’s spouse and Employee’s dependents the group health plan benefits
to which Employee, Employee’s spouse and Employee’s dependents would have been entitled if such termination of employment
had not occurred; provided, that Unitek may satisfy a portion of its obligations hereunder through paying the expense of
COBRA for Employee, Employee’s spouse and Employee’s dependents to maintain the aforementioned benefits for the period
that COBRA eligibility runs concurrent with the Severance Period.

 

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(f)      Full
Satisfaction. Employee acknowledges that the payment by Unitek of the amounts specified in this Section 7 shall constitute
full and final satisfaction of any entitlement that Employee may have arising from, or in any way related to, Employee’s
employment hereunder, including the termination of such employment; provided, however, that, except as expressly
set forth in this Section 7, Employee’s rights with respect to any award of Time-Based Vesting Securities or other
incentive securities shall be governed by the terms and conditions set forth in the applicable plan under which such award was
made.

 

(g)     Delivery
of Release. Notwithstanding anything to the contrary in this Section 7, in the event that any severance payments or
benefits are subject to Employee’s execution and delivery of an effective Release, such Release must be delivered to the
Company within sixty (60) days following the date of Employee’s termination of employment.

 

(g)     Change
in Control. If a “Change in Control” or “Change of Control” (as defined in any compensation,
equity-based or other plan under which awards, grants or other issuances of Awarded Securities are made, including, without limitation,
the BCI 2009 Plan (each an “Equity Plan”)) occurs while Employee is employed by Unitek, 100% of all of Employee’s
unvested Awarded Securities awarded under each such Equity Plan shall accelerate, vest and pay as of the date of completion or
consummation of the Change in Control.

 

8.     Confidentiality.

 

(a)          Employee
hereby warrants, covenants and agrees that, without the prior express written approval of Unitek, Employee shall hold in the strictest
confidence and shall not disclose to any Person any Confidential Information. The provisions of this Section 8 shall
not prohibit the disclosure of Confidential Information by Employee to the extent required by any governmental authority or by
applicable law. If Employee receives such a demand for disclosure: (i) Employee shall give written notice thereof to Unitek as
promptly as is reasonably practicable after he learns of any such demand, (ii) Employee agrees to cooperate with Unitek to prevent
or limit such disclosure and (iii) Employee agrees to only disclose that amount of Confidential Information that is expressly
required to be disclosed. The warranty, covenant and agreement set forth in this Section 8 shall not expire and shall survive
this Agreement and be binding upon Employee without regard to the passage of time or other events.

 

(b)          The
violation of any of the terms of this Section 8 by Employee would cause irreparable injury to Unitek, the amount of
which will be impossible to estimate or determine and which cannot be adequately compensated by monetary damages. Accordingly,
the remedy at law for any breach of this Section 8 will be inadequate. Therefore, notwithstanding Section 20,
Unitek will be entitled to a temporary and permanent injunction, restraining order or any other equitable relief from any court
of competent jurisdiction in the event of any breach or threatened breach of this Section 8 by Employee without the
necessity of proving actual damage or posting of any bond whatsoever.

 

9.    Restrictions
on Activities of Employee.

 

(a)          Acknowledgments.
Employee and Unitek acknowledge and agree that:

 

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(i)          Employee
is being employed hereunder in a key capacity with Unitek and that Unitek is engaged in a highly competitive business and that
the success of Unitek’s business in the marketplace depends upon its goodwill and reputation for quality and dependability.

 

(ii)         Employee
will have access to Confidential Information in performing his duties for Unitek under this Agreement.

 

(iii)        Reasonable
limits may be placed on Employee’s ability to compete against Unitek and its Affiliates that are engaged in the Business
(as defined below) to the extent that they protect and preserve the legitimate business interests and goodwill of Unitek and/or
its Affiliates that are engaged in the Business, and that the limits contained herein are in consideration for and as an inducement
for, among other things, Employee’s right to receive the Options and/or other Awarded Securities referenced in Section 6(d).

 

(iv)         The
covenants and undertakings by Employee contained in this Section 9 relate to matters which are of a special, unique
and extraordinary character, and a violation of any of the terms of this Section 9 will cause irreparable injury to
Unitek, the amount of which will be impossible to estimate or determine and which cannot be adequately compensated by monetary
damages. Accordingly, the remedy at law for any breach of this Section 9 will be inadequate. Therefore, notwithstanding
Section 20, Unitek will be entitled to a temporary and permanent injunction, restraining order or any other equitable
relief from any court of competent jurisdiction in the event of any breach or threatened breach of this Section 9 by
Employee without the necessity of proving actual damage or posting of any bond whatsoever. Employee consents to jurisdiction and
venue in the Federal or State courts of Montgomery County, Pennsylvania for such equitable relief.

 

(v)          The
rights and remedies provided by this Section 9 are cumulative and in addition to any other rights and remedies which
Unitek may have hereunder or at law or in equity. The parties hereto agree that, if any arbitrator or court of competent jurisdiction
determines that a specified time period, a specified geographical area, a specified business limitation or any other relevant feature
of this Section 9 is unreasonable, arbitrary or against public policy, then a lesser period of time, geographical area,
business limitation or other relevant feature which is determined by such arbitrator or court to be reasonable, not arbitrary and
not against public policy may be enforced against the applicable party.

 

(b)          Non-Competition
Restrictions. During the Non-Competition Period (as defined below), Employee will not, anywhere in the Territory (as defined
below), directly or indirectly, alone or as principal, agent, employee, officer, director, trustee, employer, consultant, investor
or partner, enter the employ of, or render services to, or own any stock or any other ownership interest in, or make any financial
investment in, any person, business or entity which is a Competitor (as defined below) to Unitek and/or it Affilaites; provided,
however, that the ownership of not more than two percent (2%) of the outstanding securities of any class of securities listed
on a national exchange or inter-dealer quotation system shall not constitute a violation of this Section 9(b). For purposes
of this Agreement, a business or entity shall be considered a “Competitor” as of any point in time during the
Non-Competition Period if it engages in the business of providing outsourced services to the telecommunications, satellite, broadband
cable, cellular/wireless tower, utility, power, management services, government, security or home services industries, or that
otherwise competes with Unitek or any of its Affiliates within the Territory (the “Business”). For purposes
of this Agreement, the “Non-Competition Period” shall mean the period commencing on the Effective Date and ending
eighteen (18) months after the date Employee’s employment is terminated. For purposes of this Agreement, “Territory”
means anywhere in the United States of America and Canada.

 

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(c)          Non-Solicitation
Restrictions. During the Non-Competition Period, Employee will not, directly or indirectly, (i) solicit the employment
or services of any individual who upon termination of Employee’s employment with Unitek or within twelve (12) months prior
thereto, was known by Employee to be employed by Unitek or any of its Affiliates (each such individual, a “Unitek
Affiliate”), (ii) hire any Unitek Affiliate or (iii) solicit any customer or supplier of Unitek or any of its Affiliates
to terminate its arrangement with Unitek or any of its Affiliates, otherwise change its relationship with Unitek or any of its
Affiliates, or establish any relationship, directly or indirectly, with Employee for any business purpose that is competitive with
the Business.

 

10.     Deductions
and Withholdings. All payments made to Employee pursuant to this Agreement shall be subject to all applicable statutory deductions
and withholding amounts.

 

11.     Notices.
Any notices or other communications required or permitted hereunder shall be in writing, and shall be sufficiently given if made
by hand delivery, by overnight courier or by registered or certified mail, postage prepaid, return receipt requested, addressed
as follows (or at such other address as may be substituted by notice given as herein provided):

 

	to Unitek:	Unitek USA, LLC
	 	c/o HM Capital Partners LLC
	 	200 Crescent Court, Suite 1600
	 	Dallas, Texas 75201
	 	Facsimile: (214) 740-7888
	 	Attention:  Peter Brodsky
	 	 
	with copies to:	Weil, Gotshal & Manges LLP
	 	200 Crescent Court, Suite 300
	 	Dallas, Texas 75201
	 	Facsimile: (214) 746-7777
	 	Attention: S. Scott Parel
	 	 
	to Employee:	Elizabeth Downey
	 	6 Gina Circle
	 	Hatfield, PA 19440

 

Any notice or communication
hereunder shall be deemed to have been given or made as of the date so delivered if delivered by hand or overnight courier and
five (5) calendar days after mailing if sent by registered or certified mail (except that a notice of change of address shall not
be deemed to have been given until actually received by the addressee).

 

12.    Governing
Law. This Agreement shall be governed by and interpreted in accordance with the laws of Pennsylvania applicable therein, without
giving effect to the principles of conflict of laws thereof.

 

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13.    Assignment.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns;
provided, however, that Employee shall not assign this Agreement or delegate his duties hereunder without the prior
written consent of Unitek. Any purported assignment in violation of this Section 13 shall be null and void and of no force
or effect.

 

14.    Amendment
or Modification. This Agreement may not be amended, modified, changed or altered except by a writing signed by the Chief Executive
Officer of Unitek and Employee.

 

15.    Waiver.
None of the terms of this Agreement, including this Section 15, or any term, right or remedy hereunder shall be deemed waived
unless such waiver is in writing and signed by the party to be charged therewith and in no event by reason of any failure to assert
or delay in asserting any such term, right or remedy or similar term, right or remedy hereunder.

 

16.    Interpretation.
Titles of sections are for convenience only and are not to be considered a part of this Agreement. Whenever the terms “hereof,”
“hereby,” “herein,” or words of similar import are used in this Agreement they shall be construed as referred
to this Agreement in its entirety rather than to a particular section or provision, unless the context specifically indicates to
the contrary. Any reference to a particular “Section” or “paragraph” shall be construed as referred to
the indicated section or paragraph of this Agreement unless the context indicates to the contrary. The use of the term “including”
herein shall be construed as meaning “including, without limitation.” All references to “$” shall be references
to legal currency of the United States of America.

 

17.    Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, void
or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force
and effect and shall in no way be affected, impaired or invalidated and the parties shall negotiate in good faith to modify this
Agreement to preserve each party’s anticipated benefits under this Agreement.

 

18.    Counterparts.
This Agreement may be executed in two or more counterparts, each of which will be deemed an original, but all of which together
shall constitute one and the same agreement.

 

19.    Complete
Agreement. This Agreement constitutes the entire agreement and supersedes all other prior agreements, term sheets and undertakings,
both written and oral, among the parties with respect to the subject matter hereof, including, without limitation, that certain
Employment Agreement, dated as of July 5, 2009, by and between Unitek and Employee. However, nothing in this paragraph shall
affect the grant of Options to the Employee pursuant to any prior agreement, including the prior agreement dated September 2007,
January 2008, June 2008 and July 2008 (see, Paragraph 6(d) above).

 

20.    Confidential
Arbitration of Disputes. Except as otherwise provided in Section 8 and Section 9 of this Agreement, any controversy
or claim arising out of or relating to this Agreement or the breach thereof, relating to the Release or arising out of Employee’s
employment or the termination of that employment (including any claims of unlawful employment discrimination whether based on age
or otherwise) shall, to the fullest extent permitted by law, be resolved by binding confidential arbitration, under the auspices
of the American Arbitration Association (“AAA”) in Philadelphia, Pennsylvania, before three neutral and independent
arbitrators licensed to practice law and in accordance with the Commercial Rules of the AAA. In the event that any person or entity
other than Employee or Unitek is a party with regard to any such controversy or claim, such controversy or claim with such third
party shall be submitted to confidential arbitration subject to such other person or entity’s agreement. However, with the
exception of Section 8 and Section 9, all disputes between Unitek and Employee shall be arbitrated. Any
award rendered in any arbitration shall be final and conclusive upon the parties to the arbitration, and the judgment thereon may
be entered in the highest court of the forum (state or federal) having jurisdiction over the issues addressed in the arbitration.
This Section 20 shall be specifically enforceable. Nothing in this Section 20 shall prevent Unitek from seeking injunctive
or equitable relief from any court of appropriate jurisdiction as provided in Section 8 and Section 9.

 

    	10

    	 

    

 

21.   Matters
Concerning Section 409A. 

 

(a)          Section
409A Compliance.    If any payment or other benefit provided to Employee in connection with his termination of employment
is determined, in whole or in part, to constitute “nonqualified deferred compensation” within the meaning of Section
409A and the Company determines that Employee is a “specified employee” as defined in Section 409A, no part of such
payments or benefits shall be paid before the day that is six (6) months plus one (1) day after Employee’s termination date
(the “New Payment Date”).  The aggregate of any payments that otherwise would have been paid to Employee
during the period between the date of termination and the New Payment Date shall be paid to Employee in a lump sum on such New
Payment Date.  Thereafter, any payments that remain outstanding as of the day immediately following the New Payment Date shall
be paid without delay over the time period originally scheduled, in accordance with the terms of this Agreement.  Notwithstanding
the foregoing, to the extent that the foregoing applies to the provision of any ongoing welfare benefits to the Employee that would
not be required to be delayed if the premiums therefore were paid by Employee, Employee shall pay the full cost of premiums for
such welfare benefits during the six (6) month period and the Company shall pay the Employee an amount equal to the amount of such
premiums paid by Employee during such six-month period promptly after its conclusion.

 

(b)          Separation
from Service.    A termination of service shall not be deemed to have occurred for purposes of any provision of this Agreement
providing for the payment of any amounts or benefits that are considered nonqualified deferred compensation under Section 409A
upon or following a termination of service, unless such termination is also a “separation from service” within the
meaning of Section 409A and the payment thereof prior to a “separation from service” would violate Section 409A. 
For purposes of any such provision of this Agreement relating to any such payments or benefits, references to a “termination,”
“termination of employment,” “termination of service,” or like terms shall mean “separation from
service.”

 

(c)          Installments
as Separate Payments.    If under this Agreement, an amount is paid in two (2) or more installments, for purposes of Section
409A, each installment shall be treated as a separate payment.

 

22.    Employee
Representation. Employee acknowledges that he has negotiated and entered into this Agreement with the full advice and representation
of legal counsel specifically retained for such purpose.

 

[The
Remainder of This Page Is Intentionally Left Blank.]

 

    	11

    	 

    

 

IN WITNESS WHEREOF AND INTENDING TO BE LEGALLY
BOUND THEREBY, the parties hereto have executed and delivered this Agreement as of the year and date first above written.

 

	 	UNITEK:
	 	 
	 	Unitek USA, LLC
	 	 	 
	 	By:	   /s/ C. Scott Hisey
	 	 	 
	 	Name:  	C. Scott Hisey
	 	 	 
	 	Title:	Chief Executive Officer
	 	 	 
	 	EMPLOYEE:
	 	 
	 	/s/ Elizabeth Downey 
	 	Elizabeth Downey

 

    	12

    	 

    

 

EXHIBIT A

 

FORM OF RELEASE

 

This Release (this “Release”)
dated as of ________, 20__ (the “Execution Date”), is made by and between Unitek USA, LLC, a Delaware limited
liability company (“Unitek”), and _________________ (“Employee”).

 

WHEREAS, the parties hereto entered in that
certain Employment Agreement, executed _____________, 2008 (the “Employment Agreement”);

 

WHEREAS, Employee’s employment with
Unitek has been terminated in a manner described in Section 7(c) of the Employment Agreement;

 

WHEREAS, pursuant to Section 7(c) of the Employment
Agreement, it is a condition precedent to Unitek’s obligation to make the payments under clauses (i) and (ii) of Section
7(c) that Employee executes and delivers this Release.

 

NOW THEREFORE, for good and valuable consideration,
the receipt of which is hereby acknowledged, the parties hereto agree as follows:

 

1.           Termination.
  Each of the parties agrees that, except for the parties respective rights and obligations pursuant to Sections 8, 9 and 20 of the
Employment Agreement (which shall survive in accordance with their respective terms), the Employment Agreement is terminated effective
as of, and shall be of no further force and effect effective as of, ____________, ______.

 

2.           Release.
  Employee ON BEHALF OF HIMSELF, HIS SPOUSE, ATTORNEYS, HEIRS, EXECUTORS, ADMINISTRATORS, AGENTS, ASSIGNS, AND ANY TRUSTS, PARTNERSHIPS
AND OTHER ENTITIES UNDER HIS CONTROL (TOGETHER, THE “EMPLOYEE PARTIES”), HEREBY GENERALLY RELEASES AND FOREVER
DISCHARGES each of Unitek, [benefits plan administrator], their respective employees and affiliates, and their respective predecessors,
successors and assigns and their respective past and present stockholders, members, directors, officers, employees, agents, representatives,
principals, insurers and attorneys (together the “Employer Parties”) from any and all claims, demands, liabilities,
suits, damages, losses, expenses, attorneys’ fees, obligations or causes of action, KNOWN OR UNKNOWN of any kind and every
nature whatsoever, and WHETHER OR NOT ACCRUED OR MATURED, that any of them have or may have, arising out of or relating to any
transaction, dealing, relationship, conduct, act or omission, OR ANY OTHER MATTERS OR THINGS OCCURRING OR EXISTING AT ANY TIME
PRIOR TO AND INCLUDING THE EXECUTION DATE (including, but not limited to, any claim against the Employer Parties based on, relating
to or arising under wrongful discharge, breach of contract (whether oral or written), tort, fraud (including fraudulent inducement
into this Release), defamation, negligence, promissory estoppel, retaliatory discharge, the Age Discrimination in Employment Act
of 1967, 29 U.S.C. § 621, et seq., as amended, Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e,
et seq., as amended (including the Civil Rights Act of 1991), the Americans with Disabilities Act of 1990, 42 U.S.C. §§
12101, et seq., as amended, Employee Retirement Income Security Act of 1974, (“ERISA”), 29 U.S.C. §§
1001 et seq., as amended, the Family and Medical Leave Act (“FMLA”), 29 U.S.C. §§ 2601
et seq., as amended, the Labor Management Relations Act, 29 U.S.C. §§ 141 et seq., as amended, the Occupational
Safety and Health Act (“OSHA”), 29 U.S.C. §§ 651 et seq., as amended, the Racketeer Influenced
and Corrupt Organizations Act (“RICO”), 18 U.S.C. §§ 1961 et seq., as amended, the Sarbanes
Oxley Act of 2002, the Sabine Pilot Doctrine and/or the American Jobs Creation Act of 2004, or any other federal, state or local
law relating to employment or discrimination in employment, including, without limitation, the Texas Commission on Human Rights
Act, the Texas Worker’s Compensation Act and the Texas Payday Act) arising out of or relating to Employee’s employment
by Unitek or the Employment Agreement or his services as an officer or employee of Unitek, or otherwise relating to the termination
of such employment or the Employment Agreement (“Released Claims”); provided, however, that such
general release will not limit or release the Employer Parties from their respective obligations (i) under this Release, or (ii)
under the surviving portions of the Employment Agreement as specified in Section 1 hereof. Employee, ON BEHALF OF HIMSELF
AND EMPLOYEE PARTIES, hereby covenants forever not to assert, file, prosecute, maintain, commence, institute (or sponsor or purposely
facilitate any person in connection with the foregoing), any complaint or lawsuit or any legal, equitable or administrative proceeding
of any nature, against any of the Employer Parties in connection with any matter released in this Section 2, and represents
and warrants that no other person or entity has initiated or, to the extent within his control, will initiate any such proceeding
on his or their behalf. For avoidance of doubt, this Release covers both claims that Employee knows about and those he may not
know about.

 

    	13

    	 

    

 

3.          Acknowledgement
of Waiver of Claims under ADEA.   Employee acknowledges that, pursuant to Section 2 hereof, he is waiving and releasing
any rights he may have against the Employer Parties under the Age Discrimination in Employment Act of 1967 and that this waiver
and release is knowing and voluntary. Employee acknowledges that the consideration given for this waiver and release is in addition
to anything of value to which Employee was already entitled. Employee further acknowledges that (a) he has had at least twenty-one
(21) days to consider and review the terms of this Release or has knowingly and voluntarily waived his right to do so; (b) he has
been advised by the Employer Parties to consult with his attorney regarding the terms of this Release; (c) any and all questions
regarding the terms of this Release have been asked and answered to his complete satisfaction; (d) he has read this Release and
fully understands its terms and their import; and (e) the consideration provided for herein is good and valuable. Employee understands
that he may revoke this Release, in writing within seven (7) days of the Execution Date, and this Release shall not become effective
and enforceable until such period has expired (the “Revocation Period”). In the event that Employee revokes
this Release prior to the expiration of the Revocation Period, this Release shall be null and void ab initio, and Employee
acknowledges and agrees that he will not receive the benefits provided by this Release or in the Employment Agreement (including
payment under Section 7(c) of the Employment Agreement) if he revokes this Release.

 

4.          Acknowledgments.
  Employee acknowledges that he understands the terms of this Release, that he has executed this Release knowingly and voluntarily
and that, before entering into this Release, he has had the opportunity to consult with any attorney or other advisor of his choice,
and has done so, and has not relied in connection herewith on legal counsel for Unitek. Employee acknowledges that, in consideration
for the covenants and releases contained herein, he will receive the payments as described in Section 7(c) of the Employment Agreement,
and that he would not receive such payment without the execution of this Release.

 

5.          Modification.
  This Release may not be modified or amended except in writing signed by the parties. No term or condition of this Release will
be deemed to have been waived except in writing by the party charged with waiver. A waiver shall operate only as to the specific
term or condition waived and will not constitute a waiver for the future or act on anything other than that which is specifically
waived.

 

    	14

    	 

    

 

6.          Counterparts.
  This Release may be executed in any number of counterparts, each of which shall be an original, but all of which, together shall
constitute one and the same instrument. Any counterpart of this Release that has attached to it separate signature pages that together
contain the signature of all parties hereto shall for all purposes be deemed a fully executed original. Facsimile signatures shall
constitute original signatures.

 

7.          Successors
and Assigns.   All the terms and provisions of this Release shall be binding upon and inure to the benefit of the parties hereto
and to their respective successors and permitted assigns. Neither this Release nor any rights or obligations hereunder may be assigned
by Employee, other than by will or the laws of descent or distribution.

 

8.          Severability.
  All provisions of this Release are intended to be severable. In the event any provision or restriction contained herein is held
to be invalid or unenforceable in any respect, in whole or in part, such finding shall in no way affect the validity or enforceability
of any other provision of this Release. The parties hereto further agree that any such invalid or unenforceable provision shall
be deemed modified so that it shall be enforced to the greatest extent permissible under law, and to the extent that any court
or arbitrator of competent jurisdiction determines any restriction herein to be unreasonable in any respect, such court or arbitrator
may limit this Release to render it reasonable in the light of the circumstances in which it was entered into and specifically
enforce this Release as limited.

 

9.          Governing
Law.   This Release shall be governed by and construed in accordance with the laws of the State of Texas without reference to
principles of conflict of laws.

 

10.        Construction.
  The parties agree that this Release was negotiated by the parties and shall not be construed against any party.

 

[The
Remainder of This Page Is Intentionally Left Blank.]

 

    	15

    	 

    

 

IN WITNESS WHEREOF, the parties have
executed this Release as of the day and year first above written.

 

	 	UNITEK:
	 	 
	 	Unitek USA, LLC
	 	 	 
	 	By:	 
	 	Name:  	 
	 	Title:	 

 

Accepted and Agreed to:

 

I ACKNOWLEDGE THAT I HAVE CAREFULLY READ THE FOREGOING RELEASE,
THAT I UNDERSTAND ALL OF ITS TERMS, AND THAT I AM ENTERING INTO IT VOLUNTARILY. I FURTHER ACKNOWLEDGE THAT I AM AWARE OF MY RIGHTS
TO REVIEW AND CONSIDER THIS RELEASE FOR 21 DAYS AND TO CONSULT WITH AN ATTORNEY ABOUT IT, AND STATE THAT BEFORE SIGNING THIS RELEASE,
I HAVE EXERCISED THESE RIGHTS TO THE FULL EXTENT THAT I DESIRED.

 

	 	 
	EMPLOYEE	 
	 	 
	Date Signed:	 
	 	 
	STATE OF ____________	)
	 	 
	 	)
	 	 
	COUNTY OF __________	)
	 	 

 

On this _____ day of ___________, 20__,
personally appeared before me, a Notary Public, EMPLOYEE, known (or proved) to me to be the person whose name is subscribed to
the above instrument who acknowledged that EMPLOYEE executed the instrument.

 

	 	 	 
	 	Expiration:Exhibit 4.2(a)

 

VUANCE LTD.

 

THE 2003 ISRAELI SHARE OPTION PLAN

 

(*In compliance with Amendment No. 132
of the Israeli Tax Ordinance, 2002)

 

    	1

    	 

    

 

TABLE OF CONTENTS

 

	1. PURPOSE OF THE ISOP	3
	 	 
	2. DEFINITIONS	3
	 	 
	3. ADMINISTRATION OF THE ISOP	6
	 	 
	4. DESIGNATION OF PARTICIPANTS	7
	 	 
	5. DESIGNATION OF OPTIONS PURSUANT TO SECTION 102	7
	 	 
	6. TRUSTEE	8
	 	 
	7. SHARES RESERVED FOR THE ISOP	9
	 	 
	8. PURCHASE PRICE	9
	 	 
	9. ADJUSTMENTS	10
	 	 
	10. TERM AND EXERCISE OF OPTIONS	11
	 	 
	11. VESTING OF OPTIONS	12
	 	 
	12. DIVIDENDS	13
	 	 
	13. RESTRICTIONS ON ASSIGNABILITY AND SALE OF OPTIONS	13
	 	 
	14. EFFECTIVE DATE AND DURATION OF THE ISOP	13
	 	 
	15. AMENDMENTS OR TERMINATION	13
	 	 
	16. GOVERNMENT REGULATIONS	14
	 	 
	17. CONTINUANCE OF EMPLOYMENT	14
	 	 
	18. GOVERNING LAW & JURISDICTION	14
	 	 
	19. ARBITRATION	14
	 	 
	20. TAX CONSEQUENCES	14
	 	 
	21. NON-EXCLUSIVITY OF THE ISOP	15
	 	 
	22. MULTIPLE AGREEMENTS	15

  

    	2

    	 

    

 

This plan, as amended from time
to time, shall be known as Vuance Ltd 2003 Israeli Share Option Plan (the “ISOP”).

 

		1.	PURPOSE OF THE ISOP

 

The ISOP is intended to provide
an incentive to retain, in the employ of the Company and its Affiliates (as defined below), persons of training, experience,
and ability, to attract new employees, directors, consultants, service providers and any other entity which the Board shall decide
their services are considered valuable to the Company, to encourage the sense of proprietorship of such persons, and to stimulate
the active interest of such persons in the development and financial success of the Company by providing them with opportunities
to purchase shares in the Company, pursuant to the ISOP.

 

		2.	DEFINITIONS

 

For purposes of the ISOP and
related documents, including the Option Agreement, the following definitions shall apply:

 

		2.1	“Affiliate”
                                                               means any “employing company” within the meaning of
                                                               Section 102(a) of the Ordinance.

 

		2.2	“Approved 102 Option”
                                                               means an Option granted pursuant to Section 102(b) of the Ordinance
                                                               and held in trust by a Trustee for the benefit of the Optionee.

 

		2.3	“Board” means
                                                               the Board of Directors of the Company.

 

		2.4	“Capital Gain Option (CGO)”
                                                               as defined in Section 5.4 below.

 

		2.5	“Cause” means,
                                                               (i) conviction of any felony involving moral turpitude or affecting
                                                               the Company; (ii) any refusal to carry out a reasonable directive
                                                               of the chief executive officer, the Board or the Optionee’s
                                                               direct supervisor, which involves the business of the Company or
                                                               its Affiliates and was capable of being lawfully performed; (iii)
                                                               embezzlement of funds of the Company or its Affiliates; (iv) any
                                                               breach of the Optionee’s fiduciary duties or duties of care
                                                               of the Company; including without limitation disclosure of confidential
                                                               information of the Company; and (v) any conduct (other than conduct
                                                               in good faith) reasonably determined by the Board to be materially
                                                               detrimental to the Company.

 

		2.6	“Chairman” means
                                                               the chairman of the Committee.

  

		2.7	“Committee” means
                                                               a share option compensation committee appointed by the Board, which
                                                               shall consist of no fewer than two members of the Board.

 

		2.8	“Company” means
                                                               Vuance Ltd, an Israeli company.

 

		2.9	“Companies Law”
                                                               means the Israeli Companies Law 5759-1999.

 

		2.10	“Controlling Shareholder”
                                                                shall have the meaning ascribed to it in Section 32(9) of the
                                                                Ordinance.

 

    	3

    	 

    

 

		2.11	“Date of Grant”
                                                                means, the date of grant of an Option, as determined by the
                                                                Board and set forth in the Optionee’s Option Agreement.

 

		2.12	Employee” means a
                                                                person who is employed by the Company or its Affiliates, including
                                                                an individual who is serving as a director or an office holder,
                                                                but excluding Controlling Shareholder.

  

		2.13	“Expiration date”
                                                                means the date upon which an Option shall expire, as set forth
                                                                in Section 10.2 of the ISOP.

 

		2.14	“Fair Market Value”
                                                                means as of any date, the value of a Share determined as follows:

 

(i) If the Shares are listed on
any established stock exchange or a national market system, including without limitation the Euronext, the NASDAQ National Market
system, or the NASDAQ SmallCap Market of the NASDAQ Stock Market, the Fair Market Value shall be the closing sales price for such
Shares (or the closing bid, if no sales were reported), as quoted on such exchange or system for the last market trading day prior
to time of determination, as reported in the Wall Street Journal, or such other source as the Board deems reliable.

 

Without derogating from the above,
solely for the purpose of determining the tax liability pursuant to Section 102(b)(3) of the Ordinance, if at the Date of Grant
the Company’s shares are listed on any established stock exchange or a national market system or if the Company’s
shares will be registered for trading within ninety (90) days following the Date of Grant, the Fair Market Value of a Share at
the Date of Grant shall be determined in accordance with the average
value of the Company’s shares on the thirty (30) trading days preceding the Date of Grant or on the thirty (30) trading
days following the date of registration for trading, as the case may be;

 

(ii) If the 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 Shares on the last market trading day prior to the day of determination, or;

 

(iii) In the absence of an established
market for the Shares, the Fair Market Value thereof shall be determined in good faith by the Board.

 

		2.15	“ISOP” means
                                                                this 2003 Israeli Share Option Plan.

 

		2.16	“ITA” means
                                                                the Israeli Tax Authorities.

 

		2.17	“Non-Employee”
                                                                means a consultant, adviser, service provider, Controlling
                                                                Shareholder or any other person who is not an Employee.

 

		2.18	“Ordinary Income Option
                                                                (OIO)” as defined in Section 5.5 below.

 

		2.19	“Option” means
                                                                an option to purchase one or more Shares of the Company pursuant
                                                                to the ISOP.

 

    	4

    	 

    

 

		2.20	“102 Option” means
                                                                any Option granted to Employees pursuant to Section 102 of the
                                                                Ordinance.

 

		2.21	“3(i) Option” means
                                                                an Option granted pursuant to Section 3(i) of the Ordinance to
                                                                any person who is Non- Employee.

 

		2.22	“Optionee”
                                                                means a person who receives or holds an Option under the ISOP.

 

		2.23	“Option Agreement”
                                                                means the share option agreement between the Company and an
                                                                Optionee that sets out the terms and conditions of an Option.

 

		2.24	“Ordinance” means
                                                                the 1961 Israeli Income Tax Ordinance [New Version] 1961 as now
                                                                in effect or as hereafter amended.

 

		2.25	“Purchase Price”
                                                                means the price for each Share subject to an Option.

 

		2.26	“Section 102” means
                                                                section 102 of the Ordinance as now in effect or as hereafter
                                                                amended.

 

		2.27	“Share” means
                                                                the ordinary shares, NIS 0.01 par value each, of the Company.

 

		2.28	“Successor Company”
                                                                means any entity the Company is merged to or is acquired by,
                                                                in which the Company is not the surviving entity.

 

		2.29	“Transaction” means
                                                                (i) merger, acquisition or reorganization of the Company with
                                                                one or more other entities in which the Company is not the surviving
                                                                entity, (ii) a sale of all or substantially all of the assets
                                                                of the Company.

 

		2.30	“Trustee” means
                                                                any individual appointed by the Company to serve as a trustee
                                                                and approved by the ITA, all in accordance with the provisions
                                                                of Section 102(a) of the Ordinance.

 

		2.31	“Unapproved 102 Option”
                                                                means an Option granted pursuant to Section 102(c) of the Ordinance
                                                                and not held in trust by a Trustee.

 

		2.32	“Vested Option”
                                                                means any Option, which has already been vested according
                                                                to the Vesting Dates.

 

		2.33	“Vesting Dates”
                                                                means, as determined by the Board or by the Committee, the
                                                                date as of which the Optionee shall be entitled to exercise the
                                                                Options or part of the Options, as set forth in section 11 of
                                                                the ISOP.

 

		3.	ADMINISTRATION OF THE ISOP

 

		3.1	The Board shall have the power
                                                               to administer the ISOP either directly or upon the recommendation
                                                               of the Committee, all as provided by applicable law and in the
                                                               Company’s Articles of Association. Notwithstanding the above,
                                                               the Board shall automatically have residual authority if no Committee
                                                               shall be constituted or if such Committee shall cease to operate
                                                               for any reason.

 

    	5

    	 

    

 

		3.2	The Committee shall select one
                                                               of its members as its Chairman and shall hold its meetings at such
                                                               times and places as the Chairman shall determine. The Committee
                                                               shall keep records of its meetings and shall make such rules and
                                                               regulations for the conduct of its business as it shall deem advisable.

 

		3.3	The Committee shall have the power
                                                               to recommend to the Board and the Board shall have the full power
                                                               and authority to: (i) designate participants; (ii) determine the
                                                               terms and provisions of the respective Option Agreements, including,
                                                               but not limited to, the number of Options to be granted to each
                                                               Optionee, the number of Shares to be covered by each Option, provisions
                                                               concerning the time and the extent to which the Options may be
                                                               exercised and the nature and duration of restrictions as to the
                                                               transferability or restrictions constituting substantial risk of
                                                               forfeiture and to cancel or suspend awards, as necessary; (iii)
                                                               determine the Fair Market Value of the Shares covered by each Option;
                                                               (iv) make an election as to the type of 102 Approved Option; and
                                                               (v) designate the type of Options.

 

The Committee
shall have full power and authority to :(i) alter any restrictions and conditions of any Options or Shares subject to any Options
(ii) interpret the provisions and supervise the administration of the ISOP; (iii) accelerate the right of an Optionee to exercise
in whole or in part, any previously granted Option; (iv) determine the Purchase Price of the Option; (v) prescribe, amend and
rescind rules and regulations relating to the ISOP; and (vi) make all other determinations deemed necessary or advisable for the
administration of the ISOP.

 

		3.4	Notwithstanding the above, the
                                                               Committee shall not be entitled to grant Options to the Optionees,
                                                               however, it will be authorized to issue Shares underlying Options
                                                               which have been granted by the Board and duly exercised pursuant
                                                               to the provisions herein in accordance with section 112(a)(5) of
                                                               the Companies Law.

 

		3.5	The Board shall have the authority
                                                               to grant, at its discretion, to the holder of an outstanding Option,
                                                               in exchange for the surrender and cancellation of such Option,
                                                               a new Option having a purchase price equal to, lower than or higher
                                                               than the Purchase Price of the original Option so surrendered and
                                                               canceled and containing such other terms and conditions as the
                                                               Committee may prescribe in accordance with the provisions of the
                                                               ISOP.

 

		3.6	Subject to the Company’s
                                                               Articles of Association, all decisions and selections made by the
                                                               Board or the Committee pursuant to the provisions of the ISOP shall
                                                               be made by a majority of its members except that no member of the
                                                               Board or the Committee shall vote on, or be counted for quorum
                                                               purposes, with respect to any proposed action of the Board or the
                                                               Committee relating to any Option to be granted to that member.
                                                               Any decision reduced to writing shall be executed in accordance
                                                               with the provisions of the Company’s Articles of Association,
                                                               as the same may be in effect from time to time.

 

		3.7	The interpretation and construction
                                                               by the Committee of any provision of the ISOP or of any Option
                                                               Agreement thereunder shall be final and conclusive unless otherwise
                                                               determined by the Board.

 

    	6

    	 

    

 

		3.8	Subject to the Company’s
                                                               Articles of Association and the Company’s decision, and to
                                                               all approvals legally required, including, but not limited to the
                                                               provisions of the Companies Law, each member of the Board or the
                                                               Committee shall be indemnified and held harmless by the Company
                                                               against any cost or expense (including counsel fees) reasonably
                                                               incurred by him, or any liability (including any sum paid in settlement
                                                               of a claim with the approval of the Company) arising out of any
                                                               act or omission to act in connection with the ISOP unless arising
                                                               out of such member's own fraud or bad faith, to the extent permitted
                                                               by applicable law. Such indemnification shall be in addition to
                                                               any rights of indemnification the member may have as a director
                                                               or otherwise under the Company's Articles of Association, any agreement,
                                                               any vote of shareholders or disinterested directors, insurance
                                                               policy or otherwise.

 

		4.	DESIGNATION OF PARTICIPANTS

 

		4.1	The persons eligible for participation
                                                               in the ISOP as Optionees shall include any Employees and/or Non-Employees
                                                               of the Company or of any Affiliate; provided, however, that (i)
                                                               Employees may only be granted 102 Options; (ii) Non-Employees may
                                                               only be granted 3(i) Options; and (iii) Controlling Shareholders
                                                               may only be granted 3(i) Options.
	 	 	 

		4.2	The
                                                                                                                               grant
                                                                                                                               of
                                                                                                                               an
                                                                                                                               Option
                                                                                                                               hereunder
                                                                                                                               shall
                                                                                                                               neither
                                                                                                                               entitle
                                                                                                                               the
                                                                                                                               Optionee
                                                                                                                               to
                                                                                                                               participate
                                                                                                                               nor
                                                                                                                               disqualify
                                                                                                                               the
                                                                                                                               Optionee
                                                                                                                               from
                                                                                                                               participating
                                                                                                                               in,
                                                                                                                               any
                                                                                                                               other
                                                                                                                               grant
                                                                                                                               of
                                                                                                                               Options
                                                                                                                               pursuant
                                                                                                                               to
                                                                                                                               the
                                                                                                                               ISOP
                                                                                                                               or
                                                                                                                               any
                                                                                                                               other
                                                                                                                               option
                                                                                                                               or
                                                                                                                               share
                                                                                                                               plan
                                                                                                                               of
                                                                                                                               the
                                                                                                                               Company
                                                                                                                               or
                                                                                                                               any
                                                                                                                               of
                                                                                                                               its
                                                                                                                               Affiliates.

 

		4.3	Anything in the ISOP to the contrary
                                                               notwithstanding, all grants of Options to directors and office
                                                               holders shall be authorized and implemented in accordance with
                                                               the provisions of the Companies Law or any successor act or regulation,
                                                               as in effect from time to time.

 

		5.	DESIGNATION OF OPTIONS PURSUANT
                                                                 TO SECTION 102

 

		5.1	The Company may designate Options
                                                               granted to Employees pursuant to Section 102 as Unapproved 102
                                                               Options or Approved 102 Options.

 

		5.2	The grant of Approved 102 Options
                                                               shall be made under this ISOP adopted by the Board as described
                                                               in Section 15 below, and shall be conditioned upon the approval
                                                               of this ISOP by the ITA.

 

		5.3	Approved 102 Option may either
                                                               be classified as Capital Gain Option (“CGO”)
                                                               or Ordinary Income Option (“OIO”).

 

		5.4	Approved 102 Option elected and
                                                               designated by the Company to qualify under the capital gain tax
                                                               treatment in accordance with the provisions of Section 102(b)(2)
                                                               shall be referred to herein as CGO.

 

		5.5	Approved 102 Option elected and
                                                               designated by the Company to qualify under the ordinary income
                                                               tax treatment in accordance with the provisions of Section 102(b)(1)
                                                               shall be referred to herein as OIO.

 

		5.6	The Company’s election of
                                                               the type of Approved 102 Options as CGO or OIO granted to Employees
                                                               (the “Election”), shall be appropriately filed
                                                               with the ITA before the Date of Grant of an Approved 102 Option.
                                                               Such Election shall become effective beginning the first Date of
                                                               Grant of an Approved 102 Option under this ISOP and shall remain
                                                               in effect until the end of the year following the year during which
                                                               the Company first granted Approved 102 Options. The Election shall
                                                               obligate the Company to grant only the type of Approved
                                                               102 Option it has elected, and shall apply to all Optionees who
                                                               were granted Approved 102 Options during the period indicated herein,
                                                               all in accordance with the provisions of Section 102(g) of the
                                                               Ordinance. For the avoidance of doubt, such Election shall not
                                                               prevent the Company from granting Unapproved 102 Options simultaneously.

 

    	7

    	 

    

 

		5.7	All Approved 102 Options must be
                                                               held in trust by a Trustee, as described in Section 6 below.

 

		5.8	For the avoidance of doubt, the
                                                               designation of Unapproved 102 Options and Approved 102 Options
                                                               shall be subject to the terms and conditions set forth in Section
                                                               102 of the Ordinance and the regulations promulgated thereunder.

 

		5.9	With regards to Approved 102 Options,
                                                               the provisions of the ISOP and/or the Option Agreement shall be
                                                               subject to the provisions of Section 102 and the Tax Assessing
                                                               Officer’s permit, and the said provisions and permit shall
                                                               be deemed an integral part of the ISOP and of the Option Agreement.
                                                               Any provision of Section 102 and/or the said permit which is necessary
                                                               in order to receive and/or to keep any tax benefit pursuant to
                                                               Section 102, which is not expressly specified in the ISOP or the
                                                               Option Agreement, shall be considered binding upon the Company
                                                               and the Optionees.

 

		6.	TRUSTEE

 

		6.1	Approved
102 Options which shall be granted under the ISOP and/or any Shares allocated or issued upon exercise of such Approved 102 Options
and/or other shares received subsequently following any realization of rights, including without limitation bonus shares, shall
be allocated or issued to the Trustee and held for the benefit of the Optionees for such period of time as required by Section
102 or any regulations, rules or orders or procedures promulgated thereunder (the “Holding Period”). In the
case the requirements for Approved 102 Options are not met, then the Approved 102 Options shall be treated as Unapproved 102 Options,
all in accordance with the provisions of Section 102 and regulations promulgated thereunder.

 

		6.2	Notwithstanding anything to the
                                                               contrary, the Trustee shall not release any Shares allocated or
                                                               issued upon exercise of Approved 102 Options prior to the full
                                                               payment of the Optionee’s tax liabilities arising from Approved
                                                               102 Options which were granted to him and/or any Shares allocated
                                                               or issued upon exercise of such Options.

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

 

    	8

    	 

    

 

		6.4	Upon receipt of Approved 102 Option,
                                                               the Optionee will sign an undertaking to release the Trustee from
                                                               any liability in respect of any action or decision duly taken and
                                                               bona fide executed in relation with the ISOP, or any Approved 102
                                                               Option or Share granted to him thereunder.

 

		7.	SHARES RESERVED FOR THE ISOP;
                                                                 RESTRICTION THEREON

 

		7.1	The Company has reserved 5,000,000
                                                               (Five million) authorized but unissued Shares, for the purposes
                                                               of the ISOP and for the purposes of any other share option plans
                                                               which may be adopted by the Company in the future, subject to adjustment
                                                               as set forth in Section 9 below. Any Shares which remain unissued
                                                               and which are not subject to the outstanding Options at the termination
                                                               of the ISOP shall cease to be reserved for the purpose of the ISOP,
                                                               but until termination of the ISOP the Company shall at all times
                                                               reserve sufficient number of Shares to meet the requirements of
                                                               the ISOP. Should any Option for any reason expire or be canceled
                                                               prior to its exercise or relinquishment in full, the Shares subject
                                                               to such Option may again be subjected to an Option under the ISOP
                                                               or under the Company’s other share option plans.

 

		7.2	Each Option granted pursuant to
                                                               the ISOP, shall be evidenced by a written Option Agreement between
                                                               the Company and the Optionee, in such form as the Board or the
                                                               Committee shall from time to time approve. Each Option Agreement
                                                               shall state, among other matters, the number of Shares to which
                                                               the Option relates, the type of Option granted thereunder (whether
                                                               a CGO, OIO, Unapproved 102 Option or a 3(i) Option), the Vesting
                                                               Dates, the Purchase Price per share, the Expiration Date and such
                                                               other terms and conditions as the Committee or the Board in its
                                                               discretion may prescribe, provided that they are consistent with
                                                               this ISOP.

 

		8.	PURCHASE PRICE

 

		8.1	The Purchase Price of each Share
                                                               subject to an Option shall be determined by the Committee 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 Purchase Price
                                                               determined for each Optionee.

 

		8.2	The Purchase Price shall be payable
                                                               upon the exercise of the Option in a form satisfactory to the Committee,
                                                               including without limitation, by cash or check. The Committee shall
                                                               have the authority to postpone the date of payment on such terms
                                                               as it may determine.

 

		8.3	The Purchase Price shall be denominated
                                                               in the currency of the primary economic environment of, either
                                                               the Company or the Optionee (that is the functional currency of
                                                               the Company or the currency in which the Optionee is paid) as determined
                                                               by the Company.

 

    	9

    	 

    

 

		9.	ADJUSTMENTS

 

Upon the occurrence of any of
the following described events, Optionee's rights to purchase Shares under the ISOP shall be adjusted as hereafter provided:

 

		9.1	In the event of Transaction, the
                                                               unexercised Options then outstanding under the ISOP shall be assumed
                                                               or substituted for an appropriate number of shares of each class
                                                               of shares or other securities of the Successor Company (or a parent
                                                               or subsidiary of the Successor Company) as were distributed to
                                                               the shareholders of the Company in connection and with respect
                                                               to the Transaction. In the case of such assumption and/or substitution
                                                               of Options, appropriate adjustments shall be made to the Purchase
                                                               Price 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 Committee or the Board, which determination shall be in
                                                               their sole discretion and final. The Company shall notify the Optionee
                                                               of the Transaction in such form and method as it deems applicable
                                                               at least ten (10) days prior to the effective date of such Transaction.

 

		9.2	Notwithstanding
                                                                                                                             the
                                                                                                                             above
                                                                                                                             and
                                                                                                                             subject
                                                                                                                             to
                                                                                                                             any
                                                                                                                             applicable
                                                                                                                             law,
                                                                                                                             the
                                                                                                                             Board
                                                                                                                             or
                                                                                                                             the
                                                                                                                             Committee
                                                                                                                             shall
                                                                                                                             have
                                                                                                                             full
                                                                                                                             power
                                                                                                                             and
                                                                                                                             authority
                                                                                                                             to
                                                                                                                             determine
                                                                                                                             that
                                                                                                                             in
                                                                                                                             certain
                                                                                                                             Option
                                                                                                                             Agreements
                                                                                                                             there
                                                                                                                             shall
                                                                                                                             be
                                                                                                                             a
                                                                                                                             clause
                                                                                                                             instructing
                                                                                                                             that,
                                                                                                                             if
                                                                                                                             in
                                                                                                                             any
                                                                                                                             such
                                                                                                                             Transaction
                                                                                                                             as
                                                                                                                             described
                                                                                                                             in
                                                                                                                             section
                                                                                                                             9.1
                                                                                                                             above,
                                                                                                                             the
                                                                                                                             Successor
                                                                                                                             Company
                                                                                                                             (or
                                                                                                                             parent
                                                                                                                             or
                                                                                                                             subsidiary
                                                                                                                             of
                                                                                                                             the
                                                                                                                             Successor
                                                                                                                             Company)
                                                                                                                             does
                                                                                                                             not
                                                                                                                             agree
                                                                                                                             to
                                                                                                                             assume
                                                                                                                             or
                                                                                                                             substitute
                                                                                                                             for
                                                                                                                             the
                                                                                                                             Options,
                                                                                                                             the
                                                                                                                             Vesting
                                                                                                                             Dates
                                                                                                                             shall
                                                                                                                             be
                                                                                                                             accelerated
                                                                                                                             so
                                                                                                                             that
                                                                                                                             any
                                                                                                                             unvested
                                                                                                                             Option
                                                                                                                             or
                                                                                                                             any
                                                                                                                             portion
                                                                                                                             thereof
                                                                                                                             shall
                                                                                                                             be
                                                                                                                             immediately
                                                                                                                             vested
                                                                                                                             as
                                                                                                                             of
                                                                                                                             the
                                                                                                                             date
                                                                                                                             which
                                                                                                                             is
                                                                                                                             ten
                                                                                                                             (10)
                                                                                                                             days
                                                                                                                             prior
                                                                                                                             to
                                                                                                                             the
                                                                                                                             effective
                                                                                                                             date
                                                                                                                             of
                                                                                                                             the
                                                                                                                             Transaction.

 

		9.3	For the purposes of section 9.1
                                                               above, an Option shall be considered assumed or substituted if,
                                                               following the Transaction, the Option confers the right to purchase
                                                               or receive, for each Share underlying an Option immediately prior
                                                               to the Transaction, the consideration (whether shares, options,
                                                               cash, or other securities or property) received in the Transaction
                                                               by holders of shares held on the effective date of the Transaction
                                                               (and if such holders were offered a choice of consideration, the
                                                               type of consideration chosen by the holders of a majority of the
                                                               outstanding shares); provided, however, that if such consideration
                                                               received in the Transaction is not solely ordinary shares (or their
                                                               equivalent) of the Successor Company or its parent or subsidiary,
                                                               the Committee may, with the consent of the Successor Company, provide
                                                               for the consideration to be received upon the exercise of the Option
                                                               to be solely ordinary shares (or their equivalent) of the Successor
                                                               Company or its parent or subsidiary equal in Fair Market Value
                                                               to the per Share consideration received by holders of a majority
                                                               of the outstanding shares in the Transaction; and provided further
                                                               that the Committee may determine, in its discretion, that in lieu
                                                               of such assumption or substitution of Options for options of the
                                                               Successor Company or its parent or subsidiary, such Options will
                                                               be substituted for any other type of asset or property including
                                                               cash which is fair under the circumstances.

 

		9.4	If the Company is voluntarily liquidated
                                                               or dissolved while unexercised Options remain outstanding under
                                                               the ISOP, the Company shall immediately notify all unexercised
                                                               Option holders of such liquidation, and the Option holders shall
                                                               then have ten (10) days to exercise any unexercised Vested Option
                                                               held by them at that time, in accordance with the exercise procedure
                                                               set forth herein. Upon the expiration of such ten-days period,
                                                               all remaining outstanding Options will terminate immediately.

 

		9.5	If
                                                                                                                               the
                                                                                                                               outstanding
                                                                                                                               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,
                                                                                                                               class
                                                                                                                               and
                                                                                                                               kind
                                                                                                                               of
                                                                                                                               the
                                                                                                                               Shares
                                                                                                                               subject
                                                                                                                               to
                                                                                                                               the
                                                                                                                               ISOP
                                                                                                                               or
                                                                                                                               subject
                                                                                                                               to
                                                                                                                               any
                                                                                                                               Options
                                                                                                                               therefore
                                                                                                                               granted,
                                                                                                                               and
                                                                                                                               the
                                                                                                                               Purchase
                                                                                                                               Prices,
                                                                                                                               shall
                                                                                                                               be
                                                                                                                               appropriately
                                                                                                                               and
                                                                                                                               equitably
                                                                                                                               adjusted
                                                                                                                               so
                                                                                                                               as
                                                                                                                               to
                                                                                                                               maintain
                                                                                                                               the
                                                                                                                               proportionate
                                                                                                                               number
                                                                                                                               of
                                                                                                                               Shares
                                                                                                                               without
                                                                                                                               changing
                                                                                                                               the
                                                                                                                               aggregate
                                                                                                                               Purchase
                                                                                                                               Price,
                                                                                                                               provided,
                                                                                                                               however,
                                                                                                                               that
                                                                                                                               no
                                                                                                                               adjustment
                                                                                                                               shall
                                                                                                                               be
                                                                                                                               made
                                                                                                                               by
                                                                                                                               reason
                                                                                                                               of
                                                                                                                               the
                                                                                                                               distribution
                                                                                                                               of
                                                                                                                               subscription
                                                                                                                               rights
                                                                                                                               (rights
                                                                                                                               offering)
                                                                                                                               on
                                                                                                                               outstanding
                                                                                                                               shares.
                                                                                                                               Upon
                                                                                                                               happening
                                                                                                                               of
                                                                                                                               any
                                                                                                                               of
                                                                                                                               the
                                                                                                                               foregoing,
                                                                                                                               the
                                                                                                                               class
                                                                                                                               and
                                                                                                                               aggregate
                                                                                                                               number
                                                                                                                               of
                                                                                                                               Shares
                                                                                                                               issuable
                                                                                                                               pursuant
                                                                                                                               to
                                                                                                                               the
                                                                                                                               ISOP
                                                                                                                               (as
                                                                                                                               set
                                                                                                                               forth
                                                                                                                               in
                                                                                                                               Section
                                                                                                                               7
                                                                                                                               hereof),
                                                                                                                               in
                                                                                                                               respect
                                                                                                                               of
                                                                                                                               which
                                                                                                                               Options
                                                                                                                               have
                                                                                                                               not
                                                                                                                               yet
                                                                                                                               been
                                                                                                                               exercised,
                                                                                                                               shall
                                                                                                                               be
                                                                                                                               appropriately
                                                                                                                               adjusted,
                                                                                                                               all
                                                                                                                               as
                                                                                                                               will
                                                                                                                               be
                                                                                                                               determined
                                                                                                                               by
                                                                                                                               the
                                                                                                                               Board
                                                                                                                               whose
                                                                                                                               determination
                                                                                                                               shall
                                                                                                                               be
                                                                                                                               final.

 

    	10

    	 

    

 

		10.	TERM AND EXERCISE OF OPTIONS

 

		10.1	Options shall be exercised by
                                                                the Optionee by giving written notice to the Company and/or to
                                                                any third party designated by the Company (the “Representative”),
                                                                in such form and method as may be determined by the Company and
                                                                when applicable, by the Trustee in accordance with the requirements
                                                                of Section 102, which exercise shall be effective upon receipt
                                                                of such notice by the Company and/or the Representative and the
                                                                payment of the Purchase Price at the Company’s or the Representative’s
                                                                principal office. The notice shall specify the number of Shares
                                                                with respect to which the Option is being exercised.

 

		10.2	Options, to the extent not previously
                                                                exercised, shall terminate forthwith upon the earlier of: (i)
                                                                the date set forth in the Option Agreement; and (ii) the expiration
                                                                of any extended period in any of the events set forth in section
                                                                10.5 below.

 

		10.3	The Options may be exercised by
                                                                the Optionee in whole at any time or in part from time to time,
                                                                to the extent that the Options become vested and exercisable,
                                                                prior to the Expiration Date, and provided that, subject to the
                                                                provisions of section 10.5 below, the Optionee is employed by
                                                                or providing services to the Company or any of its Affiliates,
                                                                at all times during the period beginning with the granting of
                                                                the Option and ending upon the date of exercise.

 

		10.4	Subject to the provisions of section
                                                                10.5 below, in the event of termination of Optionee’s employment
                                                                or services, with the Company or any of its Affiliates, all Options
                                                                granted to such Optionee will immediately expire. A notice of
                                                                termination of employment or service shall be deemed to constitute
                                                                termination of employment or service. For the avoidance of doubt,
                                                                in case of such termination of employment or service, the unvested
                                                                portion of the Optionee’s Option shall not vest and shall
                                                                not become exercisable.

 

		10.5	Notwithstanding anything to the
                                                                contrary hereinabove and unless otherwise determined in the Optionee’s
                                                                Option Agreement, an Option may be exercised after the date of
                                                                termination of Optionee's employment or service with the Company
                                                                or any Affiliates during an additional period of time beyond the
                                                                date of such termination, but only with respect to the number
                                                                of Vested Options at the time of such termination according to
                                                                the Vesting Dates, if:

 

(i) termination
is without Cause, in which event any Vested Option still in force and unexpired may be exercised within a period of ninety (90)
days after the date of such termination; or-

 

(ii) termination
is the result of death or disability of the Optionee, in which event any Vested Option still in force and unexpired may be exercised
within a period of three (3) months after the date of such termination; or -

 

    	11

    	 

    

 

(iii) prior
to the date of such termination, the Committee shall authorize an extension of the terms of all or part of the Vested Options
beyond the date of such termination for a period not to exceed the period during which the Options by their terms would otherwise
have been exercisable.

 

For avoidance of any doubt, if
termination of employment or service is for Cause, any outstanding unexercised Option (whether vested or non-vested), will immediately
expire and terminate, and the Optionee shall not have any right in connection to such outstanding Options.

 

		10.6	To avoid doubt, the Optionees
                                                                shall not have any of the rights or privileges of shareholders
                                                                of the Company in respect of any Shares purchasable upon the exercise
                                                                of any Option, nor shall they be deemed to be a class of shareholders
                                                                or creditors of the Company for purpose of the operation of sections
                                                                350 and 351 of the Companies Law or any successor to such section,
                                                                until registration of the Optionee as holder of such Shares in
                                                                the Company’s register of shareholders upon exercise of
                                                                the Option in accordance with the provisions of the ISOP, but
                                                                in case of Options and Shares held by the Trustee, subject to
                                                                the provisions of Section 6 of the ISOP.

 

		10.7	Any form of Option Agreement authorized
                                                                by the ISOP may contain such other provisions as the Committee
                                                                may, from time to time, deem advisable.

 

		10.8	With respect to Unapproved 102
                                                                Option, if the Optionee ceases to be employed by the Company or
                                                                any Affiliate, the Optionee shall extend to the Company and/or
                                                                its Affiliate a security or guarantee for the payment of tax due
                                                                at the time of sale of Shares, all in accordance with the provisions
                                                                of Section 102 and the rules, regulation or orders promulgated
                                                                thereunder.

 

		11.	VESTING OF OPTIONS

 

		11.1	Subject to the provisions of the
                                                                ISOP, each Option shall vest following the Vesting Dates and for
                                                                the number of Shares as shall be provided in the Option Agreement.
                                                                However, no Option shall be exercisable after the Expiration Date.

 

		11.2	An Option may be subject to such
                                                                other terms and conditions on the time or times when it may be
                                                                exercised, as the Committee may deem appropriate. The vesting
                                                                provisions of individual Options may vary.

 

		12.	DIVIDENDS

 

With respect to all Shares (but
excluding, for avoidance of any doubt, any unexercised Options) allocated or issued upon the exercise of Options purchased by
the Optionee and held by the Optionee or by the Trustee, as the case may be, the Optionee shall be entitled to receive dividends
in accordance with the quantity of such Shares, subject to the provisions of the Company’s Articles of Association (and
all amendments thereto) and subject to any applicable taxation on distribution of dividends, and when applicable subject to the
provisions of Section 102 and the rules, regulations or orders promulgated thereunder.

 

    	12

    	 

    

 

		13.	RESTRICTIONS ON ASSIGNABILITY
                                                                  AND SALE OF OPTIONS

 

		13.1	No Option or any right with respect
                                                                thereto, purchasable hereunder, whether fully paid or not, shall
                                                                be assignable, transferable or given as collateral or any right
                                                                with respect to it given to any third party whatsoever, except
                                                                as specifically allowed under the ISOP, and during the lifetime
                                                                of the Optionee each and all of such Optionee's rights to purchase
                                                                Shares hereunder shall be exercisable only by the Optionee.

 

Any such action made directly
or indirectly, for an immediate validation or for a future one, shall be void.

 

		13.2	As long as Options and/or Shares
                                                                are held by the Trustee on behalf of the Optionee, all rights
                                                                of the Optionee over the Shares are personal, can not be transferred,
                                                                assigned, pledged or mortgaged, other than by will or pursuant
                                                                to the laws of descent and distribution.

 

		14.	EFFECTIVE DATE AND DURATION
                                                                  OF THE ISOP

 

The ISOP 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.

 

The Company shall obtain the
approval of the Company’s shareholders for the adoption of this ISOP or for any amendment to this ISOP, if shareholders’
approval is necessary or desirable to comply with any applicable law including without limitation the US securities law or the
securities laws of other jurisdiction applicable to Options granted to Optionees under this ISOP, or if shareholders’ approval
is required by any authority or by any governmental agencies or national securities exchanges including without limitation the
US Securities and Exchange Commission.

 

		15.	AMENDMENTS OR TERMINATION

 

The Board may at any time, but
when applicable, after consultation with the Trustee, amend, alter, suspend or terminate the ISOP. No amendment, alteration, suspension
or termination of the ISOP shall impair the rights of any Optionee, unless mutually agreed otherwise between the Optionee and
the Company, which agreement must be in writing and signed by the Optionee and the Company. Termination of the ISOP shall not
affect the Committee’s ability to exercise the powers granted to it hereunder with respect to Options granted under the
ISOP prior to the date of such termination.

 

		16.	GOVERNMENT REGULATIONS

 

The ISOP, and the granting and
exercise of Options hereunder, and the obligation of the Company to sell and deliver Shares under such Options, shall be subject
to all applicable laws, rules, and regulations, whether of the State of Israel or of the State of Belgium or of the United States
or any other State having jurisdiction over the Company and the Optionee, including the registration of the Shares under the securities
act of Belgium and/or the United States Securities Act of 1933, and the Ordinance and to such approvals by any governmental agencies
or national securities exchanges as may be required. Nothing herein shall be deemed to require the Company to register the Shares
under the securities laws of any jurisdiction.

 

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		17.	CONTINUANCE OF EMPLOYMENT
                                                                  OR HIRED SERVICES

 

Neither the ISOP nor the Option
Agreement with the Optionee shall impose any obligation on the Company or an Affiliate thereof, to continue any Optionee in its
employ or service, and nothing in the ISOP or in any Option granted pursuant thereto shall confer upon any Optionee any right
to continue in the employ or service of the Company or an Affiliate thereof or restrict the right of the Company or an Affiliate
thereof to terminate such employment or service at any time.

 

		18.	GOVERNING LAW & JURISDICTION

 

The ISOP shall be governed by
and construed and enforced in accordance with the laws of the State of Israel applicable to contracts made and to be performed
therein, without giving effect to the principles of conflict of laws. The competent courts of Tel-Aviv, Israel shall have sole
jurisdiction in any matters pertaining to the ISOP.

 

		19.	ARBITRATION

 

Any dispute in relation with
this ISOP and the exercise of rights thereunder, shall be brought to arbitration of the legal counsel to the Company (“the
Arbitrator”), who shall decide on such dispute in accordance with the provisions of the Arbitration Law - 1968 and its
supplement. The decision of the Arbitrator shall be final and shall bind the Company and the Optionee.

 

		20.	TAX CONSEQUENCES

 

		20.1	Any tax consequences arising from
                                                                the grant or exercise of any Option, from the payment for Shares
                                                                covered thereby or from any other event or act (of the Company
                                                                and/or its Affiliates, the Trustee or the Optionee), hereunder,
                                                                shall be borne solely by the Optionee. The Company and/or its
                                                                Affiliates and/or the Trustee shall withhold taxes according to
                                                                the requirements under the applicable laws, rules, and regulations,
                                                                including withholding taxes at source. Furthermore, the Optionee
                                                                shall agree to indemnify the Company and/or its Affiliates and/or
                                                                the Trustee and hold them harmless against and from any and all
                                                                liability for any such tax or interest or penalty thereon, including
                                                                without limitation, liabilities relating to the necessity to withhold,
                                                                or to have withheld, any such tax from any payment made to the
                                                                Optionee.

 

		20.2	The Company and/or, when applicable,
                                                                the Trustee shall not be required to release any Share certificate
                                                                to an Optionee until all required payments have been fully made.

 

		21.	NON-EXCLUSIVITY OF THE ISOP

 

The adoption of the ISOP by
the Board shall not be construed as amending, modifying or rescinding any previously approved incentive arrangements or as creating
any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without
limitation, the granting of Options otherwise than under the ISOP, and such arrangements may be either applicable generally or
only in specific cases.

 

For the avoidance of doubt,
prior grant of options to Optionees of the Company under their employment agreements, and not in the framework of any previous
option plan, shall not be deemed an approved incentive arrangement for the purpose of this Section.

 

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		22.	MULTIPLE AGREEMENTS

 

The terms of each Option
may differ from other Options granted under the ISOP at the same time, or at any other time. The Board may also grant more than
one Option to a given Optionee during the term of the ISOP, either in addition to, or in substitution for, one or more Options
previously granted to that Optionee.

 

* * *

 

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