Document:

Exhibit 10.13

 

indemnification
agreement

 

THIS INDEMNIFICATION AGREEMENT (the “Agreement”),
dated as of __________, 20__, is entered into by and between Cellebrite DI Ltd., an Israeli company whose address is 94 Shlomo Shmelzer
Road, Petah Tikva 4970602, Israel (the “Company”), and the undersigned Director or Officer of the Company whose name
appears on the signature page hereto officer (the “Indemnitee”).

 

		WHEREAS,	Indemnitee is an Office Holder (“Nosse Misra”), as
such term is defined in the Companies Law, 5759–1999, as amended (the “Office Holder”
and the “Companies Law” respectively), of the Company; 

 

		WHEREAS,	both the Company and Indemnitee recognize the increased risk of litigation
and other claims being asserted against Office Holders of companies and that highly competent persons have become more reluctant to serve
corporations as directors and officers or in other capacities unless they are provided with adequate protection through insurance or adequate
indemnification against inordinate risks of claims and actions against them arising out of their service to, and activities on behalf
of, companies; 

 

		WHEREAS,	the Articles of Association of the Company authorize the Company to
indemnify and advance expenses to its Office Holders and provide for insurance and exculpation to its Office Holders, in each case, to
the fullest extent permitted by applicable law;  

 

		WHEREAS,	the Company has determined that (i) the increased difficulty in attracting
and retaining competent persons is detrimental to the best interests of the Company’s shareholders and that the Company should act
to assure such persons that there will be increased certainty of such protection in the future, and (ii) it is reasonable, prudent and
necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest
extent permitted by applicable law, so that they will serve or continue to serve the Company free from undue concern that they will not
be so indemnified; and

 

		WHEREAS,	in recognition of Indemnitee’s need for substantial protection
against personal liability in order to assure Indemnitee’s continued service to the Company in an effective manner and, in part,
in order to provide Indemnitee with specific contractual assurance that the indemnification, insurance and exculpation afforded by the
Articles of Association will be available to Indemnitee, the Company wishes to undertake in this Agreement for the indemnification of
and the advancing of expenses to Indemnitee to the fullest extent permitted by applicable law and as set forth in this Agreement and provide
for insurance and exculpation of Indemnitee as set forth in this Agreement.

 

NOW, THEREFORE, the parties hereto agree
as follows:

 

		1.	INDEMNIFICATION AND INSURANCE.

 

		1.1.	The Company hereby undertakes to indemnify Indemnitee to the fullest extent permitted by applicable law
for any liability and expense specified in Sections ‎1.1.1 through ‎1.1.4 below, imposed on Indemnitee due to or in connection
with an act performed by such Indemnitee, either prior to or after the date hereof, in Indemnitee’s capacity as an Office Holder,
including, without limitation, as a director, officer, employee, agent or fiduciary of the Company, any subsidiary thereof or any other
corporation, collaboration, partnership, joint venture, trust or other enterprise, in which Indemnitee serves at any time at the request
of the Company (the “Corporate Capacity”). The term “act performed in Indemnitee’s capacity as an Office
Holder” shall include, without limitation, any act, omission or failure to act and any other circumstances relating to or arising
from Indemnitee’s service in a Corporate Capacity. Notwithstanding the foregoing, in the event that the Office Holder is the beneficiary
of an indemnification undertaking provided by a subsidiary of the Company or any other entity [(other than a Secondary Indemnitor
(as defined below))], with respect to his or her Corporate Capacity with such subsidiary or entity, then the indemnification obligations
of the Company hereunder with respect to such Corporate Capacity shall only apply to the extent that the indemnification by such subsidiary
or other entity does not actually fully cover the indemnifiable liabilities and expenses relating thereto. The following shall be hereinafter
referred to as “Indemnifiable Events”

 

     

     

    

 

		1.1.1.	Financial liability imposed on Indemnitee in favor of any person pursuant to a judgment, including a judgment
rendered in the context of a settlement or an arbitrator’s award approved by a court. For purposes of Section ‎1 of this Agreement,
the term “person” shall include, without limitation, a natural person, firm, partnership, joint venture, trust, company,
corporation, limited liability entity, unincorporated organization, estate, government, municipality, or any political, governmental,
regulatory or similar agency or body;

 

		1.1.2.	Reasonable Expenses (as defined below) expended by Indemnitee as a result of an investigation or any proceeding
instituted against the Indemnitee by an authority that is authorized to conduct such investigation or proceeding, and that was concluded
without filing an indictment against the Indemnitee and without imposing on the Indemnitee a financial liability in lieu of a criminal
proceeding, or that was concluded without filing an indictment against the Indemnitee but imposing a financial liability in lieu of a
criminal proceeding in an offence that does not require proof of mens rea, or in connection with a financial sanction. In this
section “conclusion of a proceeding without filing an indictment in a matter in which a criminal investigation has been instigated”
and “financial liability in lieu of a criminal proceeding” shall have the meaning assigned to such terms under the Companies
Law, and the term “financial sanction” shall mean such term as referred to in Section 260(a)(1a) of the Companies Law;

 

		1.1.3.	Reasonable Expenses expended by or imposed on Indemnitee by a court, in a proceeding instituted against
Indemnitee by the Company or on its behalf or by another person, or in a criminal charge from which Indemnitee was acquitted or in which
Indemnitee convicted of an offence that does not require proof of mens rea; and

 

		1.1.4.	Any other event, occurrence, matter or circumstances under any law with respect to which the Company may,
or will be able to, indemnify an Office Holder (including, without limitation, in accordance with Section 56h(b)(1) of the Israeli Securities
Law 5728-1968 (the “Israeli Securities Law”), if applicable, and Section 50P(b)(2) of the Israeli Economic Competition
Law, 5758-1988 (the “Economic Competition Law”)).

 

For the purpose of this Agreement,
“Expenses” shall include, without limitation, legal fees and all other costs, expenses and obligations paid or incurred
by Indemnitee in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing
to defend, be a witness in or participate in any claim, action, suit, proceeding, alternative dispute resolution mechanism, hearing, inquiry
or investigation relating to any matter for which indemnification hereunder may be provided. Expenses shall be considered paid or incurred
by Indemnitee at such time as Indemnitee is required to pay or incur such cost or expenses, including upon receipt of an invoice or payment
demand. The Company shall pay the Expenses in accordance with the provisions of Section‎1.3.

 

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		1.2.	Notwithstanding anything herein to the contrary, the Company’s undertaking
to indemnify the Indemnitee under Section ‎1.1.1 shall only be with respect to events described in Exhibit A hereto.
The Board of Directors of the Company (the “Board”) has determined that the categories of events listed in Exhibit
A are foreseeable in light of the operations of the Company. The maximum amount of indemnification
payable by the Company under Section ‎1.1.1 with respect to the specific events described in
Exhibit A during any period of five years, shall be as set forth in Exhibit A hereto (the “Limit
Amount”). If the Company undertook to indemnify multiple persons under agreements
similar to this Agreement (the “Indemnifiable Persons”) the Limit Amount for the five
year period commencing on the closing of the first issuance and sale of the Company’s ordinary shares to the public, pursuant to
an effective registration statement under the United States Securities Act 1933, as amended, or the securities law of any other jurisdiction,
and for every subsequent five year period, shall apply to all Indemnifiable Persons, in the aggregate, and if the Limit
Amount is insufficient to cover all the indemnity amounts payable with respect to all Indemnifiable Persons during the relevant five year
period, then such amount shall be allocated to such Indemnifiable Persons pro rata according to the percentage of their culpability, as
finally determined by a court in the relevant claim, or, absent such determination or in the event such persons are parties to different
claims, based on an equal pro rata allocation among such Indemnifiable Persons. The Limit Amount payable by the Company as described in
Exhibit A is deemed by the Company to be reasonable in light of the circumstances. The indemnification provided under Section ‎1.1.1
herein shall not be subject to the limitations imposed by this Section ‎1.2 and Exhibit A if and to the extent such limits do
not or are no longer required by the Companies Law.

 

		1.3.	If so requested by Indemnitee in writing, and subject to the Company’s repayment and reimbursements
rights set forth in Sections ‎3 and ‎5 below, the Company shall pay amounts to cover Indemnitee’s Expenses with respect
to which Indemnitee is entitled to be indemnified under Section ‎1.1 above, as and when incurred. The payments of such amounts shall
be made by the Company directly to the Indemnitee’s legal and other advisors, as soon as practicable, but in any event no later
than fifteen (15) days after written demand by such Indemnitee therefor to the Company, and any such payment shall be deemed to constitute
indemnification hereunder. As part of the aforementioned undertaking, the Company will make available to Indemnitee any security or guarantee
that Indemnitee may be required to post in accordance with an interim decision given by a court, governmental or administrative body,
or an arbitrator, including for the purpose of substituting liens imposed on Indemnitee’s assets.

 

		1.4.	The Company’s obligation to indemnify Indemnitee and advance Expenses in accordance with this Agreement
shall be for such period (the “Indemnification Period”) as Indemnitee shall be subject to any actual, possible or threatened
claim, action, suit, demand or proceeding or any inquiry or investigation, whether civil, criminal or investigative, arising out of the
Indemnitee’s service in the Corporate Capacity as described in Section ‎1.1 above, whether or not Indemnitee is still serving
in such position.

 

		1.5.	The Company undertakes that, subject to the mandatory limitations under applicable law, as long as it
may be obligated to provide indemnification and advance Expenses under this Agreement, the Company will purchase and maintain in effect
directors and officers liability insurance, which will include coverage for the benefit of the Indemnitee, providing coverage in amounts
as reasonably determined by the Board; provided that, the Company shall have no obligation to obtain or maintain directors and officers
insurance policy if the Company determines in good faith that such insurance is not reasonably available, the premium costs for such insurance
are disproportionate to the amount of coverage provided, or the coverage provided by such insurance is so limited by exclusions that it
provides an insufficient benefit. The Company hereby undertakes to notify the Indemnitee 30 days prior to the expiration or termination
of the directors and officers liability insurance.

 

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		1.6.	The Company undertakes to give prompt written notice of the commencement of any claim hereunder to the
insurers in accordance with the procedures set forth in each of the policies. The Company shall thereafter diligently take all actions
reasonably necessary under the circumstances to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of
such action, suit, proceeding, inquiry or investigation in accordance with the terms of such policies. The above shall not derogate from
Company’s authority to freely negotiate or reach any compromise with the insurer which is reasonable at the Company’s sole
discretion provided that the Company shall act in good faith and in a diligent manner.

 

		2.	SPECIFIC LIMITATIONS ON INDEMNIFICATION.

 

Notwithstanding anything to the contrary
in this Agreement, the Company shall not indemnify or advance Expenses to Indemnitee with respect to (i) any act, event or circumstance
with respect to which it is prohibited to do so under applicable law, or (ii) a counter claim made by the Company or in its name in connection
with a claim against the Company filed by the Indemnitee.

 

		3.	REPAYMENT OF EXPENSES.

 

		3.1.	In the event that the Company provides or is required to provide indemnification with respect to Expenses
hereunder and at any time thereafter the Company determines, based on advice from its legal counsel, that the Indemnitee was not entitled
to such payments, the amounts so indemnified by the Company will be promptly repaid by Indemnitee, unless the Indemnitee disputes the
Company’s determination, in which case the Indemnitee’s obligation to repay to the Company shall be postponed until such dispute
is resolved.

 

		3.2.	Indemnitee’s obligation to repay to the Company for any Expenses or other sums paid hereunder shall
be deemed as a loan given to Indemnitee by the Company subject to the minimum interest rate prescribed by Section 3(9) of the Income Tax
Ordinance [New Version], 1961, or any other legislation replacing it, which is not considered a taxable benefit.

 

		4.	SUBROGATION.

 

		4.1.	[Except as set forth in Section ‎4.2 below,] In the event of payment under this Agreement,
the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all documents
required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable
the Company effectively to bring suit to enforce such rights.

 

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		4.2.	[The Company hereby acknowledges that Indemnitee has certain rights to indemnification,
advancement of expenses and/or insurance provided by [venture capital fund] OR [parent company of the Company] OR [shareholder(s) of the
Company] and certain of [its]/[their] affiliates] (collectively, the “Secondary Indemnitors”). The Company hereby agrees (i)
that it is the indemnitor of first resort (i.e., its obligations to Indemnitee are primary and any obligation of the Secondary Indemnitors
to advance expenses or to provide indemnification for the same expenses or liabilities incurred by Indemnitee are secondary), (ii) that
it shall be required to advance the full amount of expenses incurred by Indemnitee and shall be liable for the full amount of all Expenses,
judgments, penalties, fines and amounts paid in settlement to the extent legally permitted and as required by the terms of this Agreement
and the Articles of Association of the Company (or any other agreement between the Company and Indemnitee), without regard to any rights
Indemnitee may have against the Secondary Indemnitors, and, (iii) that it irrevocably waives, relinquishes and releases the Secondary
Indemnitors from any and all claims against the Secondary Indemnitors for contribution, subrogation or any other recovery of any kind
in respect thereof. The Company further agrees that no advancement or payment by the Secondary Indemnitors on behalf of Indemnitee with
respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Secondary Indemnitors
shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery
of Indemnitee against the Company. The Company and Indemnitee agree that the Secondary Indemnitors are express third party beneficiaries
of the terms of this Section ‎4.2.] 

 

		5.	REIMBURSEMENT.

 

[Except as set forth
in Section ‎4.2 above,] The Company shall not be liable under this Agreement to make any payment in connection with
any Indemnifiable Event to the extent Indemnitee has otherwise actually received payment under any insurance policy or otherwise (without
any obligation of Indemnitee to repay any such amount) of the amounts otherwise indemnifiable hereunder. Any amounts paid to Indemnitee
under such insurance policy or otherwise after the Company has indemnified Indemnitee for such liability or Expense shall be repaid to
the Company promptly upon receipt by Indemnitee, in accordance with the terms set forth in Section ‎3.2.

 

		6.	EFFECTIVENESS.

 

The Company represents and warrants
that this Agreement is valid, binding and enforceable in accordance with its terms and was duly adopted and approved by the Company, and
shall be in full force and effect immediately upon its execution. [This Agreement shall be valid, binding and enforceable
in accordance with its terms and shall be in full force and effect immediately upon its approval by the Company’s general meeting
of shareholders.]

 

		7.	NOTIFICATION AND DEFENSE OF CLAIM.

 

Indemnitee shall notify the Company
of the commencement of any action, suit or proceeding, and of the receipt of any notice or threat that any such legal proceeding has been
or shall or may be initiated against Indemnitee (including any proceedings by or against the Company and any subsidiary thereof), promptly
upon Indemnitee first becoming so aware; but the omission so to notify the Company will not relieve the Company from any liability which
it may have to Indemnitee under this Agreement unless and to the extent that such failure to provide notice prejudices the Company’s
ability to defend such action. Notice to the Company shall be directed to the Chief Executive Officer or Chief Financial Officer of the
Company at the address shown in the preamble to this Agreement (or such other address as the Company shall designate in writing to Indemnitee).
With respect to any such action, suit or proceeding as to which Indemnitee notifies the Company of the commencement thereof and without
derogating from Sections ‎1.1 and ‎2:

 

		7.1.	The Company will be entitled to participate therein at its own expense.

 

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		7.2.	Except as otherwise provided below, the Company, alone or jointly with any other indemnifying party similarly
notified, will be entitled to assume the defense thereof, with counsel selected by the Company. Indemnitee shall have the right to employ
his or her own counsel in such action, suit or proceeding, but the fees and expenses of such counsel incurred after notice from the Company
of its assumption of the defense thereof shall be at the expense of Indemnitee, unless: (i) the employment of counsel by Indemnitee
has been authorized in writing by the Company; (ii) the Company, in good faith, reasonably concluded that there may be a conflict of interest
between the Company and Indemnitee in the conduct of the defense of such action; or (iii) the Company has not in fact employed counsel
to assume the defense of such action within reasonable time, in which cases the reasonable fees and expenses of Indemnitee’s counsel
shall be at the expense of the Company. The Company shall not be entitled to assume the defense of any action, suit or proceeding brought
by or on behalf of the Company or as to which Indemnitee and the Company shall have reached the conclusion specified in (ii) above.

 

		7.3.	The Company shall not be liable to indemnify Indemnitee under this Agreement for any amounts or expenses
paid in connection with a settlement of any action, claim or otherwise, effected without the Company’s prior written consent.

 

		7.4.	The Company shall have the right to conduct the defense as it sees fit in its sole discretion (provided
that the Company shall conduct the defense in good faith and in a diligent manner), including the right to settle or compromise any claim
or to consent to the entry of any judgment against Indemnitee without the consent of the Indemnitee, provided that, the amount of such
settlement, compromise or judgment does not exceed the Limit Amount (if applicable) and is fully indemnifiable pursuant to this Agreement
(subject to Section ‎1.2 of this Agreement) and/or applicable law, and any such settlement, compromise or judgment does not impose
any penalty or limitation on Indemnitee without the Indemnitee’s prior written consent. The Indemnitee’s consent shall not
be required if the settlement includes a complete release of Indemnitee, does not contain any admission of wrong-doing by Indemnitee,
and includes monetary sanctions only as provided above. In the case of criminal proceedings the Company and/or its legal counsel will
not have the right to plead guilty or agree to a plea-bargain in the Indemnitee’s name without the Indemnitee’s prior written
consent. Neither the Company nor Indemnitee will unreasonably withhold or delay their consent to any proposed settlement.

 

		7.5.	Indemnitee shall fully cooperate with the Company and shall give the Company all information and access
to documents, files and to his or her advisors and representatives as shall be within Indemnitee’s power, in every reasonable way
as may be required by the Company with respect to any claim which is the subject matter of this Agreement and in the defense of other
claims asserted against the Company (other than claims asserted by Indemnitee), provided that the Company shall cover all expenses, costs
and fees incidental thereto such that the Indemnitee will not be required to pay or bear such expenses, costs and fees.

 

		8.	EXCULPATION.

 

Subject to the provisions of the Companies
Law, the Company hereby releases, in advance, the Office Holder from liability to the Company for any damage that arises from the breach
of the Office Holder’s duty of care to the Company (within the meaning of such terms under Sections 252 and 253 of the Companies
Law), other than breach of the duty of care towards the Company in a distribution (as such term is defined in the Companies Law).

 

		9.	NON-EXCLUSIVITY.

 

The rights of the Indemnitee hereunder
shall not be deemed exclusive of any other rights Indemnitee may have under the Articles of Association, applicable law or otherwise,
and to the extent that during the Indemnification Period the indemnification rights of the then serving directors and officers
are more favorable to such directors or officers than the indemnification rights provided under this Agreement to Indemnitee, Indemnitee
shall be entitled to the full benefits of such more favorable indemnification rights to the extent permitted by law.

 

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		10.	PARTIAL INDEMNIFICATION.

 

If Indemnitee is entitled under any
provision of this Agreement to indemnification by the Company for some or a portion of the expenses, judgments, fines or penalties actually
or reasonably incurred by Indemnitee in connection with any proceedings, but not, however, for the total amount thereof, the Company shall
nevertheless indemnify Indemnitee for the portion of such expenses, judgments, fines or penalties to which Indemnitee is entitled under
any provision of this Agreement. Subject to the provisions of Section ‎5 above, any amount received by Indemnitee (under any insurance
policy or otherwise) shall not reduce the Limit Amount hereunder and shall not derogate from the Company’s obligation to indemnify
the Indemnitee in accordance with the provisions of this Agreement up to the Limit Amount, as set forth in Section ‎1.2.

 

		11.	BINDING EFFECT.

 

This Agreement shall be binding upon
and inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns. In the event
of a merger or consolidation of the Company or a transfer or disposition of all or substantially all of the business or assets of the
Company, the Indemnitee shall be entitled to the same indemnification and insurance provisions as the most favorable indemnification and
insurance provisions afforded to the then-serving Office Holders of the Company. In the event that in connection with such transaction
the Company purchases a directors and officers’ “tail” or “run-off” policy for the benefit of its then serving
Office Holders, then such policy shall cover Indemnitee and such coverage shall be deemed to be in satisfaction of the insurance requirements
under this Agreement. This Agreement shall continue in effect during the Indemnification Period regardless of whether Indemnitee continues
to serve in a Corporate Capacity.

 

Any amendment to the Companies Law,
the Israeli Securities Law, the Economic Competition Law or other applicable law adversely affecting the right of the Indemnitee to be
indemnified, insured or released pursuant hereto shall be prospective in effect, and shall not affect the Company’s obligation or
ability to indemnify or insure the Indemnitee for any act or omission occurring prior to such amendment, unless otherwise provided by
applicable law.

 

		12.	SEVERABILITY.

 

The provisions of this Agreement shall
be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other
provisions hereof. If any provision of this Agreement, or the application thereof or any circumstance, is invalid or unenforceable, (a)
a suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent
and purpose of such invalid or unenforceable provision and (b) the remainder of this Agreement and the application of such provision or
circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity
or enforceability of such provision, or the application thereof, in any other jurisdiction.

 

		13.	NOTICE.

 

All notices and other communications
pursuant to this Agreement shall be in writing and shall be deemed provided if delivered personally, telecopied, sent by electronic facsimile,
email, reputable overnight courier or mailed by registered or certified mail (return receipt requested), postage prepaid, to the parties
at the addresses shown in the preamble to this Agreement, or to such other address as the party to whom notice is to be given may have
furnished to the other party hereto in writing in accordance herewith. Any such notice or communication shall be deemed to have been delivered
and received (i) in the case of personal delivery, on the date of such delivery, (ii) in the case of telecopier or an electronic facsimile
or email, one business day after the date of transmission if confirmation of receipt is received, (iii) in the case of a reputable overnight
courier, three business days after deposit with such reputable overnight courier service, and (iv) in the case of mailing, on the seventh
business day following that on which the mail containing such communication is posted.

 

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		14.	GOVERNING LAW; JURISDICTION.

 

This Agreement shall be governed by
and construed and enforced in accordance with the laws of the State of Israel, without giving effect to the conflicts of law provisions
of those laws. The Company and Indemnitee each hereby irrevocably consent to the exclusive jurisdiction and venue of the courts of Tel
Aviv, Israel for all purposes in connection with any action or proceeding which arises out of or relates to this Agreement.

 

		15.	ENTIRE AGREEMENT.

 

This Agreement represents the entire
agreement between the parties and supersedes any other agreements, contracts or understandings between the parties, whether written or
oral, with respect to the subject matter of this Agreement.

 

		16.	NO MODIFICATION AND NO WAIVER.

 

No supplement, modification or amendment,
termination or cancellation of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of
any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar)
nor shall such waiver constitute a continuing waiver. Any waiver shall be in writing. The Company hereby undertakes not to amend its Articles
of Association in a manner which will adversely affect the provisions of this Agreement.

 

		17.	ASSIGNMENTS; NO THIRD PARTY RIGHTS

 

Neither party hereto may assign any
of its rights or obligations hereunder except with the express prior written consent of the other party. Nothing herein shall be deemed
to create or imply an obligation for the benefit of a third party. Without limitation of the foregoing, nothing herein shall be deemed
to create any right of any insurer that provides directors and officers’ liability insurance, to claim, on behalf of Indemnitee,
any rights hereunder.

 

		18.	INTERPRETATION; DEFINITIONS.

 

Unless the context
shall otherwise require: words in the singular shall also include the plural, and vice versa; any pronoun shall include the corresponding
masculine, feminine and neuter forms; the words “include”, “includes” and “including” shall be deemed
to be followed by the phrase “without limitation”; the words “herein”, “hereof” and “hereunder”
and words of similar import refer to this Agreement in its entirety and not to any part hereof; all references herein to Sections or clauses
shall be deemed references to Sections or clauses of this Agreement; any references to any agreement or other instrument or law, statute
or regulation are to it as amended, supplemented or restated, from time to time (and, in the case of any law, to any successor provisions
or re-enactment or modification thereof being in force at the time); any reference to “law” shall include any supranational,
national, federal, state, local, or foreign statute or law and all rules and regulations promulgated thereunder; any reference to a “day”
or a number of “days” (without any explicit reference otherwise, such as to business days) shall be interpreted as a reference
to a calendar day or number of calendar days; reference to month or year means according to the Gregorian calendar; reference to a “company”,
“corporate body” or “entity” shall include a, partnership, firm, company, corporation, limited liability company,
association, joint venture, trust, unincorporated organization, estate, or a government municipality or any political, governmental, regulatory
or similar agency or body, and reference to a “person” shall mean any of the foregoing or a natural person.

 

		19.	COUNTERPARTS

 

This Agreement may be executed in
any number of counterparts, each of which shall be deemed an original and enforceable against the parties actually executing such counterpart,
and all of which together shall constitute one and the same instrument; it being understood that parties need not sign the same counterpart.
The exchange of an executed Agreement (in counterparts or otherwise) by facsimile or by electronic delivery in pdf format shall be sufficient
to bind the parties to the terms and conditions of this Agreement, as an original.

 

[SIGNATURE PAGE TO FOLLOW]

 

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IN WITNESS WHEREOF,
the parties, each acting under due and proper authority, have executed this Indemnification Agreement as of the date first mentioned above,
in one or more counterparts.

 

	Cellebrite DI Ltd.	 
	 	 
	By:	 	 
	Name and title: 	 	 

 

	Indemnitee:	 
	 	 
	Name:	 	 
	Signature:	 	 
	Address:	 	 

 

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EXHIBIT
A*

 

	 	CATEGORY OF INDEMNIFIABLE EVENT
	1. 	Matters, events, occurrences or circumstances in connection or associated with employment relationships with employees or consultants or any employee union or similar or comparable organization. 
	2. 	Matters, events, occurrences or circumstances in connection or associated with business relations of any kind between the Company and its employees, independent contractors, customers, suppliers, partners, distributors, agents, resellers, representatives, licensors, licensees, service providers and other business associates.
	3. 	Negotiations, execution, delivery and performance of agreements of any kind or nature and any decisions or deliberations relating to actions or omissions relating to the foregoing; any acts, omissions or circumstances that do or may constitute or are alleged to constitute anti-competitive acts, acts of commercial wrongdoing, or failure to meet any standard of conduct which is or may be applicable to such acts, omissions or circumstances.
	4. 	Approval of and recommendation or information provided to shareholders with respect to any and all corporate actions, including the approval of the acts of the Company’s management, their guidance and their supervision, matters relating to the approval of transactions with Office Holders (including, without limitation, all compensation related matters) or shareholders, including controlling persons and claims and allegations of failure to exercise business judgment, reasonable level of proficiency, expertise, care or any other applicable standard, with respect to the foregoing or otherwise with respect to the Company’s business, strategy, operations and prospective outlook, and any discussions, deliberations, reviews or other preparatory or preliminary phases relating to any of the foregoing.  
	5. 	Violation, infringement, misappropriation, dilution and other misuse of copyrights, patents, designs, trade secrets, confidential information, proprietary information and any intellectual property rights, acts in connection with the registration, assertion or protection of rights to intellectual property and the defense of claims related to intellectual property, breach of confidentiality obligations, acts in regard of invasion of privacy or any violation of privacy or privacy related right or regulation, including with respect to databases or handling, collection or use of private information, acts in connection with slander and defamation, and claims in connection with publishing or providing any information, including any filings with any governmental authorities, whether or not required under any applicable laws.
	6. 	Violations of or failure to comply with securities laws, and any regulations or other rules promulgated thereunder, of any jurisdiction, including without limitation, claims under the U.S. Securities Act of 1933 or the U.S. Exchange Act of 1934 or under the Israeli Securities Law, fraudulent disclosure claims, failure to comply with any securities authority or any stock exchange disclosure or other rules and any other claims relating to relationships with investors, debt holders, shareholders, optionholders, holders of any other equity or debt instrument of the Company, and otherwise with the investment community (including without limitation any such claims relating to a merger, acquisition, change in control transaction, issuance of securities, restructuring, spin out, spin off, divestiture, recapitalization or any other transaction relating to the corporate structure or organization of the Company); claims relating to or arising out of financing arrangements, any breach of financial covenants or other obligations towards investors, lenders or debt holders, class actions, violations of laws requiring the Company to obtain regulatory and governmental licenses, permits and authorizations in any jurisdiction, including in connection with disclosure, offering or other transaction related documents; actions taken in connection with the issuance, purchase, holding or disposition of any type of securities of Company, including, without limitation, the grant of options, warrants or other rights to purchase any of the same or any offering of the Company’s securities (whether on behalf of the Company or on behalf of any holders of securities of the Company) to private investors, underwriters, resellers or to the public, and listing of such securities, or the offer by the Company to purchase securities from the public or from private investors or other holders, and any undertakings, representations, warranties and other obligations related to any of the foregoing or to the Company’s status as a public company or as an issuer of securities.

 

    - 10 -

     

    

 

	7. 	Liabilities arising in connection with any products or services developed, distributed, rendered, sold, provided, licensed or marketed by the Company or any Affiliate thereof, and any actions or omissions in connection with the distribution, provision, sale, marketing, license or use of such products or services, including without limitation in connection with professional liability and product liability claims or regulatory or reputational matters.
	8. 	The offering of securities by the Company (whether on behalf of itself or on behalf of any holder of securities and any other person) to the public and/or to offerees or the offer by the Company to purchase securities from the public and/or from private investors or other holders pursuant to a prospectus, offering documents, agreements, notices, reports, tenders and/or other processes.
	9. 	Events, facts or circumstances in connection with change in ownership or in the structure of the Company, its reorganization, dissolution, winding up, any other arrangements concerning creditors rights, merger, change in control, issuances of securities, restructuring, spin out, spin off, divestiture, recapitalization or any other transaction relating to the corporate structure or organization of the Company, and the approval of failure to approve of any corporate actions and any matters relating to corporate governance, capital structure, articles of association or other charter or governance documents, appointment or dismissal of office holders or compensation thereof and appointment or dismissal of auditors, internal auditor or any other person performing any services for the Company.     
	10. 	Any claim or demand made in connection with any transaction not in the ordinary course of business of the Company, as well as the sale, lease, purchase or acquisition of, or the receipt or grant of any rights with respect to, any assets or business.
	11. 	Any claim or demand made by any third party suffering any personal injury and/or bodily injury or damage to business or personal property or any other type of damage through any act or omission attributed to the Company, or its employees, agents or other persons acting or allegedly acting on its behalf, including, without limitation, failure to make proper safety arrangements for the Company or its employees and liabilities arising from any accidental or continuous damage or harm to the Company’s employees, its contractors, its guests and visitors as a result of an accidental or continuous event, or employment conditions, permanent or temporary, in the Company’s offices.
	12. 	Any claim or demand made directly or indirectly in connection with complete or partial failure, by the Company or its directors, officers and employees, to pay, report, keep applicable records or otherwise, of any local or foreign federal, state, county, municipal or city taxes or other taxes or compulsory payments of any nature whatsoever, including, without limitation, income, sales, use, transfer, excise, value added, registration, severance, stamp, occupation, customs, duties, real property, personal property, capital stock, social security, unemployment, disability, payroll or employee withholding or other withholding, including any interest, penalty or addition thereto, whether disputed or not.
	13. 	Any administrative, regulatory, judicial or civil actions orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance or violation by any governmental entity or other person alleging potential responsibility or liability (including potential responsibility or liability for costs of enforcement investigation, cleanup, governmental response, removal or remediation, for natural resources damages, property damage, personal injuries or penalties or for contribution,  indemnification, cost recovery, compensation or injunctive relief) arising out of, based on or related to (a) the presence of, release, spill, emission, leaning, dumping, pouring, deposit, disposal, discharge, leaching or migration into the environment (each a “Release”) or threatened Release of, or exposure to, any hazardous, toxic, explosive or radioactive substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing material, polychlorinated biphenyls (“PCBs”) or PCB-containing materials or equipment, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any environmental law, at any location, whether or not owned, operated, leased or managed by the Company or any of its subsidiaries, or (b) circumstances forming the basis of any violation of any environmental law or environmental permit, license, registration or other authorization required under applicable environmental law.

	14. 	Any administrative, regulatory or judicial actions, orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance or violation by any governmental or regulatory entity or authority or any other person alleging the failure to comply with any statute, law, ordinance, rule, regulation, order or decree of any governmental entity applicable to the Company or any of its businesses, assets or operations, or the terms and conditions of any operating certificate or licensing agreement.

 

    - 11 -

     

    

 

	15. 	Participation and/or non-participation at Company Board meetings,  expression of opinion or view and/or voting and/or abstention from voting at Company Board meetings, including, in each case, any committee thereof, as well as expression of opinion publicly in connection with the service as an Office Holder.
	16. 	Review and approval of the Company’s financial statements and any specific items or matters within, including any action, consent or approval related to or arising from the foregoing, including, without limitations, engagement of or execution of certificates for the benefit of third parties related to the financial statements.  
	17. 	Violation of laws, rules or regulations requiring the Company to obtain regulatory and governmental licenses, permits and authorizations (including without limitation relating to export, import, encryption, antitrust or competition authorities) or laws related to any governmental grants in any jurisdiction. 
	18. 	Resolutions and/or actions relating to investments in the Company and/or its subsidiaries and/or affiliated companies and/or investment in corporate or other entities and/or investments in other traded or non-traded securities and/or any other form of investment.   
	19. 	Liabilities arising out of advertising, including misrepresentations regarding the Company's products or services and unlawful distribution of emails.
	20. 	Management of the Company’s bank accounts, including money management, foreign currency deposits, securities, loans and credit facilities, credit cards, bank guarantees, letters of credit, consultation agreements concerning investments including with portfolio managers, hedging transactions, options, futures, and the like.
	21. 	All actions, consents and approvals, including any prior discussions, reviews and deliberations, relating to a distribution of dividends, in cash or otherwise, or to any other "distribution" as such term is defined under the Companies Law.
	22. 	Any administrative, regulatory, judicial, civil or criminal, actions orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance, violation or breaches alleging potential responsibility, liability, loss or damage (including potential responsibility or liability for costs of enforcement, investigation, cleanup, governmental response, removal or remediation, property damage or penalties, or for contribution,  indemnification, cost recovery, compensation or injunctive relief), whether alleged or claimed by customers, consumers, regulators, shareholders or others, arising out of, based on or related to: (a) cyber security, cyber attacks, data loss or breaches, unauthorized access to information, data, or databases (including but not limited to any personally identifiable information or private health information) and use or disclosure of information contained therein, not preventing or detecting the breach or failing to otherwise disclose or respond to the breach; (b) circumstances forming the basis of any violation of any law, permit, license, registration or other authorization required under applicable law governing data security, data protection, network security, information systems, privacy or any cyber environment (including, users, networks, devices, software, processes, information systems, databases, information in storage or transit, applications, services, and systems that can be connected directly or indirectly to networks); (c) failure to implement a reporting system or control, or failure to monitor or oversee the operation of such a system; (d) data destruction, extortion, theft, hacking, and denial of service attacks; losses or liabilities to others caused by errors and omissions, failure to safeguard data or defamation; or (e) security-audit, post-incident public relations and investigative expenses, criminal reward funds, data breach/privacy crisis management (including, management of an incident, investigation, remediation, data subject notification, call management, credit checking for data subjects, legal costs, court attendance and regulatory fines), extortion liability (including, losses due to a threat of extortion, professional fees related to dealing with the extortion), or network security liability (including, losses as a result of denial of access, costs related to data on third-parties and costs related to the theft of data on third-party systems).
	

		
     

    The Limit Amount for all Indemnifiable Persons
    during each relevant period referred to in Section 1.2 of the Indemnification Agreement for all events described in this Exhibit A (in
    Sections 1-22 (inclusive) above), shall be the greater of:

     

    (a) twenty-five
    percent (25%) of the Company’s total shareholders’ equity according to the Company’s most recent financial statements
    as of the time of the actual payment of indemnification;

     

    (b) US$250 million;

     

    (c) ten percent (10%)
    of the Company Total Market Cap (which shall mean the average closing price of the Company’s ordinary shares over the 30 trading
    days prior to the actual payment of indemnification multiplied by the total number of issued and outstanding shares of the Company as
    of the date of actual payment); and

     

    (d) in connection
    with or arising out of a public offering of the Company’s securities, the aggregate amount of proceeds from the sale by the Company
    and/or any shareholder of Company’s securities in such offering.

     

		*	Any reference in this Exhibit A to the Company shall include the Company and any entity in which the Indemnitee
serves in a Corporate Capacity.

 

- 12 -Exhibit 10.14

 

COMPENSATION POLICY

 

Cellebrite DI Ltd.

 

Compensation Policy for Executive Officers and
Directors

 

(As Adopted by the Shareholders on                 ,
2021)

 

 

 

		1.	Introduction

 

This document sets forth the Compensation
Policy for Executive Officers and Directors (this “Compensation Policy” or “Policy”) of Cellebrite DI
Ltd. (“Cellebrite” or the “Company”) in accordance with the requirements of the Companies Law, 5759-1999
(the “Companies Law”).

 

Compensation is a key component of
Cellebrite’s overall human capital strategy to attract, retain, reward, and motivate highly skilled individuals that will enhance
Cellebrite’s value and otherwise assist Cellebrite to reach its business and financial long-term goals. Accordingly, the structure
of this Policy is established to tie the compensation of officers and directors to Cellebrite’s goals and performance.

 

For purposes of this Policy, “Executive
Officers” shall mean “Office Holders” as such term is defined in Section 1 of the Companies Law, excluding, unless
otherwise expressly indicated herein, Cellebrite’s directors.

 

This policy is subject to applicable
law and is not intended and should not be interpreted as limiting or derogating from provisions of applicable law to the extent not permitted
by such law.

 

This Policy shall apply to compensation
agreements and arrangements which will be approved after the date on which this Policy is adopted and shall serve as Cellebrite’s
Compensation Policy for five (5) years, commencing as of its adoption, unless amended earlier.

 

The Compensation Committee and the
Board of Directors of Cellebrite (the “Compensation Committee” and the “Board”, respectively) shall review and
reassess this Policy from time to time, as required by the Companies Law.

 

		2.	Objectives

 

Cellebrite’s objectives and goals
in setting this Policy are to attract, motivate and retain highly experienced leaders who will contribute to Cellebrite’s success
and enhance shareholder value, while demonstrating professionalism in a highly achievement-oriented culture that is based on merit and
rewards excellent performance in the long term, and embedding Cellebrite’s core values as part of a motivated behavior. To that
end, this Policy is designed, among others:

 

		2.1.	To
closely align the interests of the Executive Officers with those of Cellebrite’s shareholders in order to enhance shareholder value;

 

	 	2.2.	To align a significant portion of the Executive Officers’ compensation with Cellebrite’s short and long-term goals and performance;

 

	 	2.3.	To provide the Executive Officers with a structured compensation package, including competitive salaries, performance-motivating cash and equity incentive programs and benefits, and to be able to present to each Executive Officer an opportunity to advance in a growing organization;

 

	 	2.4.	To strengthen the retention and the motivation of Executive Officers in the long term;

 

	 	2.5.	To provide appropriate awards in order to incentivize superior individual excellency and corporate performance; and

 

	 	2.6.	To maintain consistency among Executive Officers in the way Executive Officers are compensated.

 

     

     

    

 

		3.	Compensation
Instruments

 

Compensation instruments under this
Policy may include the following:

 

	 	3.1.	Base salary;

 

	 	3.2.	Benefits;

 

	 	3.3.	Cash bonuses;

 

	 	3.4.	Equity-based compensation;

 

	 	3.5.	Change of control terms; and

 

	 	3.6.	Retirement and termination terms. 

 

		4.	Overall
Compensation - Ratio Between Fixed and Variable Compensation

 

	 	4.1.	This Policy aims to balance the mix of “Fixed Compensation” (comprised primarily of base salary and benefits) and “Variable Compensation” (comprised primarily of cash bonuses and equity-based compensation) in order to, among other things, appropriately incentivize Executive Officers to meet Cellebrite’s short and long-term goals while taking into consideration the Company’s need to manage a variety of business risks.

 

	 	4.2.	The value of the total annual bonus and equity based compensation opportunity of each Executive Officer shall not exceed 95% of the value of the total compensation package of such Executive Officer on an annual basis, as determined based on the accounting principles used by the Cellebrite for its financial statements or such other method as determined by the Compensation Committee or the Board.

 

		5.	Inter-Company
Compensation Ratio

 

	 	5.1.	In the process of drafting this Policy, Cellebrite’s Board and Compensation Committee have examined the ratio between employer cost associated with the engagement of the Executive Officers and directors, and the average and median employer cost associated with the engagement of Cellebrite’s other employees (including contractor employees as defined in the Companies Law) (the “Ratio”).

 

	 	5.2.	The possible ramifications of the Ratio on the daily working environment in Cellebrite were examined and will continue to be examined by Cellebrite from time to time in order to ensure that levels of executive compensation, as compared to the overall workforce will not have a negative impact on work relations in Cellebrite. 

 

B. Base Salary and Benefits

 

		6.	Base
Salary

 

	 	6.1.	A base salary provides stable compensation to Executive Officers and allows Cellebrite to attract and retain competent executive talent and maintain a stable management team. The base salary varies among Executive Officers, and is individually determined according to the educational background, prior vocational experience, qualifications, role at the company, business responsibilities and the past performance of each Executive Officer.

 

	 	6.2.	Since a competitive base salary is essential to Cellebrite’s ability to attract and retain highly skilled professionals, Cellebrite will seek to establish a base salary that is competitive with base salaries paid to Executive Officers in a peer group of other companies operating in technology sectors which are similar in their characteristics to Cellebrite, as much as possible, while considering, among others, such companies’ size and characteristics including (but not limited to) their revenues, profitability rates, growth rates, market capitalization, number of employees and operating arena (in Israel or globally), the list of which shall be reviewed and approved by the Compensation Committee at least every two years. To that end, Cellebrite shall utilize as a reference, comparative market data and practices, which will include a compensation survey that compares and analyses the level of the overall compensation package offered to an Executive Officer of the Company with compensation packages in similar positions to that of the relevant officer in such companies. Such compensation survey may be conducted internally or through an external independent consultant.

 

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	 	6.3.	The Compensation Committee and the Board may periodically consider and approve base salary adjustments for Executive Officers. The main considerations for salary adjustment are similar to those used in initially determining the base salary, but may also include change of role or responsibilities, recognition for professional achievements, regulatory or contractual requirements, budgetary constraints or market trends, or such other factors as determined by the Compensation Committee or the Board. The Compensation Committee and the Board will also consider the previous and existing compensation arrangements of the Executive Officer whose base salary is being considered for adjustment.

 

		7.	Benefits

 

	 	7.1.	The following benefits may be granted to the Executive Officers in order, among other things, to comply with legal requirements:

 

	 	7.1.1.	Vacation days in accordance with market practice;

 

	 	7.1.2.	Sick days in accordance with market practice;

 

	 	7.1.3.	Convalescence pay according to applicable law;

 

	 	7.1.4.	Monthly remuneration for a study fund, as allowed by applicable law and with reference to Cellebrite’s practice and the practice in peer group companies (including contributions on bonus payments);

 

	 	7.1.5.	Cellebrite may contribute on behalf of the Executive Officer to an insurance policy, a pension fund or retirement fund, as allowed or required by applicable law and with reference to Cellebrite’s policies and procedures and the practice in similar companies (including contributions on bonus payments); and

 

	 	7.1.6.	Cellebrite shall contribute on behalf of the Executive Officer towards work disability insurance and life insurance, as allowed or required by applicable law and with reference to Cellebrite’s policies and procedures and the practice in similar companies (including contributions on bonus payments).

 

	 	7.2.	Non-Israeli Executive Officers may receive other similar, comparable or customary benefits as applicable in the relevant jurisdiction in which they are employed. Such customary benefits shall be determined based on the methods described in Section 6.2 of this Policy (with the necessary changes and adjustments).

 

	 	7.3.	In events of relocation or repatriation of an Executive Officer to another geography, such Executive Officer may receive other similar, comparable or customary benefits as applicable in the relevant jurisdiction in which he or she is employed or additional payments to reflect adjustments in cost of living. Such benefits may include reimbursements, stipends or other payments for out-of-pocket one-time payments and other ongoing expenses, such as housing allowance, car allowance, home leave visit, tax equalization payments, and other similar costs.

 

	 	7.4.	Cellebrite may offer additional benefits to its Executive Officers to the extent such benefits are reasonable and necessary or comparable to customary market practices, such as, but not to limited: home office expenses, cell phone, company car and travel benefits, reimbursement of business travel (including a daily stipend when traveling) and other business related expenses, insurances, other benefits (such as newspaper subscriptions, academic and professional studies), etc., provided, however, that such additional benefits shall be determined in accordance with Cellebrite’s policies and procedures.

 

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C. Cash Bonuses

 

		8.	Cash
Bonuses - The Objective

 

	 	8.1.	Compensation in the form of an annual or other periodic cash bonus is an important element in aligning the Executive Officers’ compensation with Cellebrite’s objectives and business goals. Therefore, Cellebrite’s compensation philosophy reflects a pay-for-performance element, in which bonus payout eligibility and levels are generally determined based on actual financial or operational results, as well as individual performance.

 

	 	8.2.	A cash bonus may be awarded to an Executive Officer upon the attainment of pre-set periodic objectives and individual targets determined by the Compensation Committee (and, if required by law, by the Board) at the beginning of each calendar or fiscal year or bonus period, or upon engagement, in case of newly-hired Executive Officers, or upon establishment of a new bonus program, taking into account Cellebrite’s short and long-term goals, as well as its compliance and risk management policies. The Compensation Committee and the Board shall also determine applicable minimum thresholds that must be met for entitlement to a cash bonus (all or any portion thereof) and the formula for calculating any such cash bonus payout. In special circumstances, as determined by the Compensation Committee and the Board (e.g., regulatory changes, significant changes in Cellebrite’s business environment, a significant organizational change, a significant merger and acquisition events, or other similar events etc.), the Compensation Committee and the Board may modify the objectives relative weights and the amount of bonus payouts (including decreasing such amounts to zero) during the applicable bonus period. 

 

	 	8.3.	In the event the employment of an Executive Officer is terminated prior to the end of a bonus period, the Company may (but shall not be obligated to) pay such Executive Officer a full cash bonus for the applicable period (based on achievement of bonus targets during such period) or a prorated one, or no bonus.

 

	 	8.4.	The actual cash bonus with respect to a bonus period to be awarded to Executive Officers shall be recommended by the chief executive officer (the “CEO”) and approved by the Compensation Committee and the Board.

 

		9.	Annual
Cash Bonuses - The Formula

 

Executive Officers other than the
CEO

 

	 	9.1.	The
    annual cash bonus opportunity of Cellebrite’s Executive Officers, other than the CEO, will generally be based on performance
    objectives and a discretionary evaluation of the Executive Officer’s overall performance by the CEO and subject to minimum
    thresholds. The performance objectives will be determined by Cellebrite’s CEO and approved by the Compensation Committee and
    the Board  at the commencement of each calendar year (or upon engagement, in case of newly hired Executive Officers or in special
    circumstances as determined by the Compensation Committee and the Board) on the basis of, but not limited to, company, division and
    individual objectives. The performance objectives and the weight to be assigned to each achievement in the overall evaluation, will
    be based on overall company performance measures, which may be based on actual financial and operational results, such as (but not
    limited to) revenues, operating income and cash flow and may further include, divisional or personal objectives which may include
    operational objectives, such as (but not limited to) market share, initiation of new markets and operational efficiency, customer
    focused objectives, project milestones objectives and investment in human capital objectives, such as employee satisfaction, employee
    retention and employee training and leadership programs. In addition, a less significant portion of the annual cash bonus opportunity
    granted to a Cellebrite Executive Officers, other than the CEO, and in any event not more than 40% of the annual cash bonus, may
    be based on a discretionary evaluation of such Executive Officer’s overall performance by the CEO. based on quantitative and
    qualitative criteria or such other criteria as determined by the Compensation Committee and the Board.

 

	 	9.2.	The maximum annual cash bonus that an Executive Officer, other than the CEO, will be entitled to receive for any given calendar year, will not exceed 200% of such Executive Officer’s annual base salary.

 

CEO

 

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	 	9.3.	The annual cash bonus opportunity of Cellebrite’s CEO will be mainly based on performance measurable objectives and subject to minimum thresholds as provided in Section 8.2 above. Such performance measurable objectives will be determined annually by the Compensation Committee and the Board at the commencement of each calendar year (or upon engagement, in case of newly hired CEO or in special circumstances as determined by Compensation Committee the Board) and will be based on company and personal objectives. The performance measurable objectives which include the objectives and the weight to be assigned to each achievement in the overall evaluation, will be based on overall company performance measures, which may be based on actual financial and operational results, such as (by way of example and not by way of limitation) revenues, sales, operating income, cash flow or Company’s annual operating plan and long-term plan.

 

	 	9.4.	In addition, a less significant portion of the annual cash bonus opportunity granted to Cellebrite’s CEO, and in any event not more than 25% of the annual cash bonus, may be based on a discretionary evaluation of the CEO’s overall performance by the Compensation Committee and the Board based on quantitative and qualitative criteria or such other criteria as determined by the Compensation Committee and the Board.
	 	 	 
	 	9.5.	The target annual cash bonus that the CEO will be entitled to receive for any given fiscal year, will not exceed 100% of his or her annual base salary. 

 

	 	9.6.	The maximum annual cash bonus that the CEO will be entitled to receive for any given calendar year, will not exceed 200% of his or her annual base salary.

 

		10.	Other Bonuses

 

	 	10.1.	Special Bonus. Cellebrite’s may grant its Executive Officers a special bonus as an award for special achievements (such as in connection with mergers and acquisitions, offerings, achieving target budget or business plan under exceptional circumstances or special recognition in case of retirement) or as a retention award at the CEO’s discretion (and in the CEO’s case, at the Compensation Committee’s and the Board’s discretion), subject to any additional approval as may be required by the Companies Law (the “Special Bonus”). The Special Bonus will not exceed 150% of the Executive Officer’s annual base salary. A Special Bonus can be paid, in whole or in part, in equity in lieu of cash and the value of any such equity component of a Special Bonus shall be determined in accordance with Section 13.3 below.

 

	 	10.2.	Signing Bonus. Cellebrite may grant a newly-recruited Executive Officer a signing bonus at the CEO’s discretion (and in the CEO’s case, at the Compensation Committee’s and the Board’s discretion), subject to any additional approval as may be required by the Companies Law (the “Signing Bonus”). The Signing Bonus will not exceed 200% of the Executive Officer’s annual base salary.

 

	 	10.3.	Relocation/ Repatriation Bonus. Cellebrite may grant its Executive Officers a special bonus in the event of relocation or repatriation of an Executive Officer to another geography (the “Relocation Bonus”). The Relocation bonus will include customary benefits associated with such relocation and its monetary value will not exceed 200% of the Executive Officer’s annual base salary.

 

	 	10.4.	Periodic Bonus. The Board may grant Executive Officers, other than the CEO, periodic cash bonus opportunities (other than the annual cash bonus opportunity described in Section 9) in accordance with the terms of Section 8, but subject to the ratio limitation described in Section 9.2.

 

		11.	Compensation
Recovery (“Clawback”)

 

	 	11.1.	In the event of an accounting restatement, Cellebrite shall be entitled to recover from its Executive Officers the bonus compensation or performance-based equity compensation in the amount in which such compensation exceeded what would have been paid under the financial statements, as restated, provided that a claim is made by Cellebrite prior to the second anniversary of fiscal year end of the restated financial statements.

 

	 	11.2.	Notwithstanding the aforesaid, the compensation recovery will not be triggered in the following events:

 

	 	11.2.1.	The financial restatement is required due to changes in the applicable financial reporting standards; or

 

	 	11.2.2.	The Compensation Committee has determined that Clawback proceedings in the specific case would be impossible, impractical or not commercially or legally efficient.

 

	 	11.3.	Nothing in this Section 11 derogates from any other “Clawback” or similar provisions regarding disgorging of profits imposed on Executive Officers by virtue of applicable laws or a separate contractual obligation.

 

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D. Equity Based Compensation

 

		12.	The
Objective

 

	 	12.1.	The equity-based compensation for Cellebrite’s Executive Officers is designed in a manner consistent with the underlying objectives in determining the base salary and the annual cash bonus, with its main objectives being to enhance the alignment between the Executive Officers’ interests with the long-term interests of Cellebrite and its shareholders, and to strengthen the retention and the motivation of Executive Officers in the long term. In addition, since equity-based awards are structured to vest over several years, their incentive value to recipients is aligned with longer-term strategic plans.

 

	 	12.2.	The equity-based compensation offered by Cellebrite is intended to be in a form of share options and/or other equity-based awards, such as restricted stock unit awards, in accordance with the Company’s equity incentive plan in place as may be updated from time to time.

 

	 	12.3.	All equity-based incentives granted to Executive Officers (other than bonuses paid in equity in lieu of cash) shall be subject to vesting periods in order to promote long-term retention of the awarded Executive Officers. Unless determined otherwise in a specific award agreement approved by the Compensation Committee and the Board, grants to Executive Officers other than non-employee directors shall vest gradually over a period of between one (1) to four (4) years or based on performance. The exercise price of options shall be determined in accordance with Cellebrite’s policies, the main terms of which shall be disclosed in the annual report of Cellebrite.

 

	 	12.4.	All other terms of the equity awards shall be in accordance with Cellebrite’s equity incentive plans and other related practices and policies. Accordingly Board may, following approval by the Compensation Committee, extend the period of time for which an award is to remain exercisable and make provisions with respect to the acceleration of the vesting period of any Executive Officer’s awards, including, without limitation, in connection with a corporate transaction involving a change of control, and may otherwise modify or amend outstanding awards in accordance with Cellebrite’s equity incentive plans and other related practices and policies, subject to any additional approval as may be required by the Companies Law.

 

		13.	General
Guidelines for the Grant of Awards

 

	 	13.1.	Equity-based compensation shall be granted from time to time and be individually determined and awarded according to the performance, educational background, prior business experience, qualifications, role and the personal responsibilities of the Executive Officer, and such other criteria as determined by the Compensation Committee and the Board.

 

	 	13.2.	In determining the equity-based compensation granted to each Executive Officer, the Compensation Committee and Board shall consider the factors specified in Section 13.1 above, and in any event the total fair market value of any annual equity-based compensation at the time of grant shall not exceed: (i) with respect to the CEO - the higher of (w) 500% of his or her annual base salary or (x) 0.5% of the Company’s fair market value; and (ii) with respect to each of the other Executive Officers - the higher of (y) 300% of his or her annual base salary or (z) 0.35% of the Company’s fair market value.

 

	 	13.3.	The fair market value of the equity-based compensation for the Executive Officers will be determined by multiplying the number of shares underlying the grant by the market price of Cellebrite’s ordinary shares on or around the time of the grant or according to other acceptable valuation practices at the time of grant, in each case, as determined by the Compensation Committee and the Board.

 

	 	13.4.	The Committee and/or the Board may adopt and maintain minimum shareholding requirements applicable to Executive Officers, such as an appropriate ratio between holdings and base salary, to encourage long-term holding of shares and/or equity and alignment with shareholder interest. 

 

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E. Retirement and Termination of Service
Arrangements

 

		14.	Advanced
Notice Period

 

Cellebrite may provide an Executive
Officer, according to his/her seniority in the Company, his/her contribution to the Company’s goals and achievements and the circumstances
of retirement, a prior notice of termination (or equivalent value in cash and other severance benefits) of up to eighteen (18) months
in the case of the CEO and twelve (12) months in the case of other Executive Officers, during which the Executive Officer may be
entitled to all of the compensation elements, and to the continuation of vesting of his/her equity-based compensation. Such advance notice
may or may not be provided in addition to severance, provided, however, that the Compensation Committee shall take into consideration
the Executive Officer’s entitlement to advance notice in establishing any entitlement to severance and vice versa.

 

		15.	Adjustment
Period

 

Cellebrite may provide an additional
adjustment period (or equivalent value in cash and other severance benefits) of up to twelve (12) months to the CEO and of up to
nine (9) months to any other Executive Officer, according to his/her seniority in the Company, his/her contribution to the Company’s
goals and achievements and the circumstances of retirement, during which the Executive Officer may be entitled to all of the compensation
elements, and to the continuation of vesting of his/her equity-based compensation.

 

		16.	Additional
Retirement and Termination Benefits

 

Cellebrite may provide additional retirement
and terminations benefits and payments as may be required by applicable law (e.g., mandatory severance pay under Israeli labor laws),
or which will be comparable to customary market practices.

 

		17.	Non-Compete Grant

 

Upon termination of employment and
subject to applicable law, Cellebrite may grant to its Executive Officers a non-compete cash or equity award as an incentive
to refrain from competing with Cellebrite for a defined period of time. The terms and conditions of the non-compete grant shall
be decided by the Board and the grant date value of such grant (as determined in accordance with generally accepted accounting principles
or such other method as determined by the Board) shall not exceed such Executive Officer’s monthly base salary multiplied by twelve
(12). The Board shall consider the existing entitlements of the Executive Officer in connection with the consideration of any non-compete
grant.

 

		18.	Limitation Retirement
and Termination of Service Arrangements

 

The total non-statutory payments
under Section 14-17 above shall not exceed the Executive Officer’s monthly base salary multiplied by twenty-four
(24). The limitation under this Section 18 does not apply to benefits and payments provided under other chapters of this Policy.

 

F. Exculpation, Indemnification and
Insurance

 

		19.	Exculpation

 

Cellebrite may exempt its directors
and Executive Officers in advance for all or any of his/her liability for damage in consequence of a breach of the duty of care vis-a-vis Cellebrite,
to the fullest extent permitted by applicable law.

 

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		20.	Insurance
and Indemnification

 

	 	20.1.	Cellebrite may indemnify its directors and Executive Officers to the fullest extent permitted by applicable law, for any liability and expense that may be imposed on the director or the Executive Officer, as provided in the indemnity agreement between such individuals and Cellebrite, all subject to applicable law and the Company’s articles of association.

 

	 	20.2.	Cellebrite will provide directors’ and officers’ liability insurance (the “Insurance Policy”) for its directors and Executive Officers as follows:

 

	 	20.2.1.	The limit of liability of the insurer shall not exceed the greater of $200 million or 50% of the Company’s shareholders equity based on the most recent financial statements of the Company at the time of approval of the Insurance Policy by the Compensation Committee; and

 

	 	20.2.2.	The Insurance Policy, as well as the limit of liability and the premium for each extension or renewal shall be approved by the Compensation Committee (and, if required by law, by the Board) which shall determine that the sums are reasonable considering Cellebrite’s exposures, the scope of coverage and the market conditions and that the Insurance Policy reflects the current market conditions (at the time of extension or renewal, as the case may be), and it shall not materially affect the Company’s profitability, assets or liabilities.

 

	 	20.3.	Upon circumstances to be approved by the Compensation Committee (and, if required by law, by the Board), Cellebrite shall be entitled to enter into a “run off” Insurance Policy of up to seven (7) years, with the same insurer or any other insurance, as follows:

 

	 	20.3.1.	The limit of liability of the insurer shall not exceed the greater of $200 million or 50% of the Company’s shareholders equity based on the most recent financial statements of the Company at the time of approval by the Compensation Committee; and 

 

 

	 	20.3.2.	The run-off Policy, as well as the limit of liability and the premium for each extension or renewal shall be approved by the Compensation Committee (and, if required by law, by the Board) which shall determine that the sums are reasonable considering the Company’s exposures covered under such policy, the scope of cover and the market conditions, and that the Insurance Policy reflects the current market conditions and that it shall not materially affect the Company’s profitability, assets or liabilities.

 

	 	20.4.	Cellebrite may extend the Insurance Policy in place to include cover for liability pursuant to a future public offering of securities as follows:

 

	 	20.4.1.	The Insurance Policy, as well as the additional premium shall be approved by the Compensation Committee (and if required by law, by the Board) which shall determine that the sums are reasonable considering the exposures pursuant to such public offering of securities, the scope of cover and the market conditions and that the Insurance Policy reflects the current market conditions, and it does not materially affect the Company’s profitability, assets or liabilities.

 

G. Arrangements upon Change of Control

 

		21.	The
following benefits may (but are not required to) be provided to the Executive Officers upon an involuntary termination of service that
occurs less than 3 months prior to or 24 months following a “Change of Control” as shall be defined in the respective incentive
plan or employment agreement:

 

	 	21.1.	Up to 100% vesting acceleration of outstanding options or other equity-based awards, including vesting at up to the maximum level possible for performance-based equity-based awards;

 

	 	21.2.	Extension of the exercising period of equity-based compensation for Cellebrite’s Executive Officers for a period of up to one (1) year in case of an Executive Officer other than the CEO and two (2) years in case of the CEO, following the date of termination of employment; and

 

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	 	21.3.	Up to an additional six (6) months of continued base salary and benefits following the date of employment termination (the “Additional Adjustment Period”). For avoidance of doubt, such additional Adjustment Period may be in addition to the advance notice (or equivalent value in cash or other severance benefits) and adjustment periods pursuant to Sections 14 and 15 of this Policy, but subject to the limitation set forth in Section 18 of this Policy.

 

	 	21.4.	A cash bonus not to exceed 150% of the Executive Officer’s annual base salary (including the value of any benefits, other than equity) in case of an Executive Officer other than the CEO and 200% in case of the CEO.

 

H. Board of Directors Compensation

 

		22.	The
following benefits may be provided to Cellebrite’s Board members:

 

	 	22.1.	All Cellebrite’s Board members, excluding the chairman of the Board and external directors, if elected, which shall be subject to the provisions of Section 22.2, may be entitled to an annual cash fee retainer of up to $60,000, Cellebrite committee membership annual cash fee retainer of up to $20,000 and committee chairperson annual cash fee retainer of up to $40,000. The chairperson of Cellebrite’s Board may be entitled to an annual cash fee retainer of up to $150,000.

 

	 	22.2.	The compensation of the Company’s external directors, if elected, shall be in accordance with the Companies Regulations (Rules Regarding the Compensation and Expenses of an External Director), 5760-2000, as amended by the Companies Regulations (Relief for Public Companies Traded in Stock Exchange Outside of Israel), 5760-2000, as such regulations may be amended from time to time.

 

	 	22.3.	Notwithstanding the provisions of Sections 22.1 above, in special circumstances, such as in the case of a professional director, an expert director or a director who makes a unique contribution to the Company, such director’s compensation may be different than the compensation of all other directors and may be greater than the maximal amount allowed under Section 22.1.

 

	 	22.4.	Each member of Cellebrite’s Board (excluding the chairman of the Board) may be granted an initial equity-based award in a value of up to $800,000 and annual grants in a value of up to $350,000 each. The equity-based awards shall vest annually over a period of between (i) the earlier of one (1) year and the date of the subsequent annual meeting if the grant is an annual grant made on the date of the prior annual meeting (but in no event less than six (6) months) and (ii) four (4) years.

 

	 	22.5.	The chairperson of Cellebrite’s Board may be granted an initial equity-based award in a value of up to $900,000 and annual grants in a value of up to $400,000 each. The equity-based awards shall vest annually over a period of between (i) the earlier of one (1) year and the date of the subsequent annual meeting if the grant is an annual grant made on the date of the prior annual meeting (but in no event less than six (6) months) and (ii) four (4) years.

 

	 	22.6.	All other terms of the equity awards shall be in accordance with Cellebrite’s equity incentive plans and other related practices and policies. Accordingly, the Compensation Committee or the Board may extend the period of time for which an award is to remain exercisable and make provisions with respect to the acceleration of the vesting period of any awards, including, without limitation, in connection with a corporate transaction involving a change of control, and may otherwise modify or amend outstanding awards in accordance with Cellebrite’s equity incentive plans and other related practices and policies, subject to any additional approval as may be required by the Companies Law.

 

	 	22.7.	In addition, members of Cellebrite’s Board may be entitled to reimbursement of expenses in connection with the performance of their duties.

 

	 	22.8.	It is hereby clarified that the compensation (and limitations) stated under Section H will not apply to directors who serve as Executive Officers.

 

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I. Miscellaneous

 

		23.	Nothing
in this Policy shall be deemed to grant any of Cellebrite’s Executive Officers or employees or any third party any right or privilege
in connection with their employment by the Company. Such rights and privileges shall be governed by the respective personal employment
agreements. The Board may determine that none or only part of the payments, benefits and perquisites detailed in this Policy shall be
granted, and is authorized to cancel or suspend a compensation package or part of it.

 

		24.	An
Immaterial Change in the Terms of Employment of an Executive Officer other than the CEO may be approved by the CEO, provided that the
amended terms of employment are in accordance with this Policy. An “Immaterial Change in the Terms of Employment” means a
change in the terms of employment of an Executive Officer with an annual total cost to the Company not exceeding an amount equal to two
(2) monthly base salaries of such employee.

 

		25.	In
the event that new regulations or law amendment in connection with Executive Officers’ and directors’ compensation will be
enacted following the adoption of this Policy, Cellebrite may follow such new regulations or law amendments, even if such new regulations
conflict with the terms set forth herein.

 

*********************

 

This Policy is designed solely for the benefit
of Cellebrite and none of the provisions thereof are intended to provide any rights or remedies to any person other than Cellebrite.

 

 

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