Document:

Exhibit 4.6

 

THIS AGREEMENT is made the 7th
of September 2018

 

Between:

 

Enlivex Therapeutics, Ltd., a company
organized under the laws of Israel, corporate number 51373620, whose address is at Kiriat Hadassa P.O.B 1267 Jerusalem Israel 91129 (the
“Employer”);

 

and

 

A.S. Novik Ltd., a company organized under the laws of
Israel, corporate number 513439273, whose address is 30 Anni Maamin Street Ramat Hasharon Israel 47212 (the “Consultant”).

 

WHEREAS, the Employer has engaged Shai
Novik (the “Named Provider”), an employee of the Consultant, as the Executive Chairman of the Employer since
12.2.2014; and

 

WHEREAS, Employer wishes to continue the
engagement the services of the Named Provider and Consultant upon the terms and subject to the conditions specified herein; and

 

WHEREAS, Consultant wishes to accept such
engagement with Employer upon the terms and subject to the conditions specified herein.

 

NOW, THEREFORE, the parties hereto
agree as follows:

 

Section 1. 
Position and Duties. Employer hereby extends the engagement of the Consultant’s Named Provider as the Executive
Chairman. Nothing herein shall preclude Consultant or Named Provider from engaging in other business professions or occupations
for compensation or otherwise or from accepting appointment to or continuing to serve on any board of directors or trustees of
any business corporation or any charitable organization; provided further, that, in each case, and in the aggregate, such
activities do not conflict or interfere with the performance of Consultant’s duties hereunder. Consultant’s duties
and authority shall consist of and include all duties and authority customarily performed and held by persons holding equivalent
positions with business organizations similar in nature and size to Employer, as such duties and authority are reasonably defined,
modified and delegated from time to time by the Board. Consultant shall have the powers necessary to perform the duties assigned
to him.

 

Section 2. 
Term and Automatic Extension. Consultant’s engagement hereunder shall be for a term of two years (the “Term”)
commencing on the Effective Date. The Term shall automatically extend for additional one-year periods (the “Automatic
Extension”), unless either party provides written notice to the other not less than 180 days prior to expiration of the
Term.

 

     

     

    

 

Section 3. 
Compensation. As compensation for the services to be provided by Consultant hereunder, Consultant shall receive the
following compensation, expense reimbursement and other benefits:

 

(a)  Base
Retainer. Consultant shall receive an aggregate annual minimum base retainer at the rate of One Hundred and fifty Thousand
Dollars ($150,000) payable in equal monthly installments of $12,500 (“Base Retainer”). Payments of Base Retainer
shall be made in NIS, calculated using the exchange rate of the date of payment. The Base Retainer shall be subject to review annually
commencing on Jan 1, 2019, and shall be maintained or increased during the term hereof as the Board may determine from time
to time. Upon (i) the closing of an initial public offering of ordinary shares of Employer; (ii) the closing of a transaction pursuant
to which the Employer merges with or into a direct or indirect subsidiary of a public company; or (iii) the Employer becomes a
Section 15(d) or Section 12(g) filer under the U.S. SEC regulations (each of (i), (ii) and (iii), a “Public Event”)
the Base Retainer shall be Three Hundred and Fifty- Thousand Dollars ($350,000) payable in equal monthly installments of $29,166,
in the case the company had over USD $20 million cash and cash equivalents available upon the closing of the Public Event and a
simultaneous financing In the case the Company had less than USD $20 million cash and cash equivalents balance available upon the
closing of the Public Event and a simultaneous financing, the Base Retainer shall be Two Hundred and Fifty- Thousand Dollars ($250,000)
payable in equal monthly installments of $20,833, and the Base Retainer shall be Three Hundred and Fifty- Thousand Dollars ($350,000)
payable in equal monthly installments of $29,166 starting upon a USD $20 million cash and cash equivalents balance available to
the Company.

 

(b)  Performance
Bonus. Consultant shall be eligible to receive an annual cash bonus up 100% of Base Salary, as determined by the Board,
payable within 30 days after the end of the fiscal year of Employer, which shall be based upon performance criteria established
by the Board (“Performance Bonus”). The minimum guaranteed Performance Bonus for the first two fiscal years
after a Public Event shall be 50% of the annual Base Retainer.

 

(c)  Public
Bonus. Consultant shall receive a one-time bonus of Two Hundred and Fifty Thousand Dollars ($250,000) (the “Public
Bonus”), upon the closing of a Public Event and a simultaneous financing resulting in total cash and cash equivalents
balance of the Employer greater than $20 million..

 

(d)  Reimbursement
of Expenses. Consultant shall be reimbursed a fixed monthly amount of $3,000 for reimbursement of expenses associated with
the performance of the duties. In addition, Consultant shall be reimbursed for all travel, entertainment and other out-of-pocket
expenses reasonably and necessarily incurred by Consultant in the performance of his duties hereunder. Submission of appropriate
vouchers and supporting documentation shall be required for any out-of-pocket expense greater than $500.

 

(e)  Option
Grants. As the Employer deems the Named Provider crucial to fulfillment of the duties hereunder, and to ensure Named Provider’s
incentive to remain in its position during the term serving as the Executive Chairman, option awards have been granted and registered
on the name of the Named Provider, and any future grant will be granted and registered on the name of the Named Provider.

 

Section 4. 
Termination.

 

(a)  Voluntary
Termination by Consultant or Expiration of Term. If Consultant voluntarily terminates his engagement under this Agreement,
other than for Good Reason (as defined below), or upon the natural expiration of the Term (after any Automatic Extensions), then
Employer shall only be required to pay Consultant such Base Retainer and unpaid expenses as shall have accrued through the effective
date of such termination, and Employer shall not be obligated to pay any Performance Bonus for the then current fiscal year of
Employer, or have any further obligations to Consultant. Consultant shall provide Employer a 30-day notice prior to such voluntary
termination. If the Term expires, then Employer shall only be required to pay Consultant such Base Retainer and unpaid expenses
as shall have accrued through the effective date of such termination, plus Employer shall be obligated to pay any Performance Bonus
(as determined be Section 3 above) for the then current fiscal year of Employer.

 

    2

     

    

 

(b)  Premature
Termination by Employer. In the event of the termination of this Agreement by Employer prior to the last day of the Term
(as the same may be extended pursuant to Section 1) for any reason other than a termination in accordance with the provisions of
Section 4(c) (Termination for Cause), then Employer shall continue to pay Consultant Base Retainer for the twelve-month period
following the effective date of termination (payable in monthly installments), plus Employer shall pay to Consultant, within ten
(10) days after the effective date of termination, an amount equal to the value of accrued unpaid expenses accrued at the effective
date of termination, and last fiscal year’s Performance Bonus, if any. Employer shall provide Consultant with 180 days prior
written notice of such premature termination, provided that such payments will not exceed the end of the Term of this Agreement

 

(c)  Termination
for Cause. This Agreement may be terminated for cause as hereinafter defined. “Cause” shall mean: (i) Death
of Consultant’s Named Provider; (ii) Named Provider’s “Permanent Disability”, which shall mean
Consultant’s inability, as a result of physical or mental incapacity of the Named Provider, substantially to perform the
duties hereunder for a period of three consecutive months; (iii) a material violation by Consultant of any applicable material
law or regulation respecting the business of Employer; (iv) Consultant being found guilty of a felony or an act of dishonesty
in connection with the performance of his duties as an officer of Employer, or which disqualifies Consultant from serving as an
officer or director of Employer; (v) the willful or negligent failure of Consultant to perform his duties hereunder in any
material respect after receipt of written notice from the Board and a reasonable opportunity to cure; (vi) the willful or
negligent failure of Consultant to obey the reasonable lawful directives of the Board after receipt of written notice from the
Board and a reasonable opportunity to cure; and (vii) to the extent permitted by applicable law, the development by Consultant
of any drug, alcohol or other substance abuse problems, or the commission of a crime involving moral turpitude. Upon a termination
of Consultant’s employment with Employer for Cause, Consultant shall be entitled to receive from Employer only such payments
as are due and owing to Consultant as of the effective date of such termination. Employer shall provide Consultant with five days
prior written notice of termination with Cause. For the avoidance of doubt, no Performance Bonus shall be payable for the fiscal
year in which Employee is terminated for Cause.

 

(d)  Payments
Upon Death. Upon the death of Consultant’s Named Provider, payment of all accrued but unpaid Base Retainer, plus
a one-time payment equal to the annual Base Retainer and the value of any accrued but unpaid as of the date of such death, shall
be made to such beneficiary as Consultant’s Named Provider may designate in writing, or failing such designation, to the
executor of his estate, in full settlement and satisfaction of all claims and demands on behalf of Consultant’s Named Provider.
Such payments shall be in full settlement and satisfaction of all claims and demands on behalf of Consultant under this Agreement.

 

    3

     

    

 

(e)  Payments
Upon Permanent Disability. Consultant shall be entitled to the compensation and benefits provided for under this Agreement
for any period during the Term and prior to the establishment of Consultant’s Permanent Disability during which Consultant
’s Named Provider is unable to work due to a physical or mental infirmity. Notwithstanding anything contained in this Agreement
to the contrary, until the date specified in a notice of termination relating to Consultant’s Permanent Disability, Consultant
shall be entitled to return to his position with Employer as set forth in this Agreement in which event no Permanent Disability
of Consultant will be deemed to have occurred. Upon the establishment of Consultant’s Permanent Disability, payment of all
accrued but unpaid Base Retainer, the value of any accrued but unpaid expenses, plus a one-time payment equal to three times the
annual Base Retainer and shall be made to Consultant or his representative. Such payments shall be in full settlement and satisfaction
of all claims and demands on behalf of Consultant under this Agreement.

 

(f)  
Other Termination Payments

 

(i) All
non-vested stock options held by Consultant or Named Provider shall immediately vest and shall be exercisable upon:

 

A. Consultant
terminates his engagement under this Agreement for Good Reason (as defined below) by a written notice to that
effect delivered to the Board within 12 months after the occurrence of the Good Reason event, or

 

B. Consultant
is terminated by Employer (other than for Cause).

 

(ii) If
(A) Consultant provides written notice to Employer of the occurrence of Good Reason (as defined below) within a
reasonable time after Consultant has knowledge of the circumstances constituting Good Reason, which notice specifically
identifies the circumstances which Consultant believes constitute Good Reason; (B) Employer fails to notify Consultant of
Employer’s intended method of correction within 30 days after receipt of the notice, or fails to commence appropriate action
to correct the circumstances within 30 days after receipt of such notice; and (C) Consultant resigns within ten business days
after receiving Employer’s response, if such response does not indicate an intention to correct such circumstances, or within
ten business days following the end of Employer’s 30-day cure period if Employer had failed to commence appropriate action to
correct the circumstances; then Consultant shall be considered to have terminated for Good Reason. For purposes of this
Agreement, “Good Reason” shall mean, without Consultant’s express written consent (and except in consequence
of a prior termination of Consultant’s employment), the occurrence of any of the following circumstances

 

A. the
assignment to Consultant, without Consultant’s written consent, of any duties materially inconsistent with
Consultant’s positions, duties, responsibilities and status with Employer, or a change in Consultant’s reporting
responsibilities, titles or offices or any plan, act, scheme or design to constructively terminate Consultant, except in
connection with the termination by Employer for Cause or Permanent Disability or as a result of Consultant’s death or
voluntary resignation;

 

B. a
reduction in Consultant’s Base Retainer;

 

    4

     

    

 

Section 5. 
No Employment Relationship Created. The relationship between the Employer and Consultant shall be that of client and
independent contractor. The Employer shall not assume, and specifically disclaims, any obligations of an employer to an employee
which may exist under applicable law. The Consultant shall be treated as an independent contractor for all purposes of federal,
state and local income taxes and payroll taxes. The Consultant shall be responsible for payment of all taxes, including federal,
state and local taxes, arising out of the Consultant’s activities in accordance with this Agreement, including by way of
illustration, but not limitation, federal and state personal income tax and social security tax, all as may be required by applicable
law or regulation. The Consultant shall have the full authority to select the means, manner and method of performing the services
to be performed under this Agreement. The Consultant shall not be considered by reason of the provisions of this Agreement or otherwise
as being an employee of the Employer. The Consultant shall not be eligible to participate in any employee benefit plans offered
by the Company or any of its subsidiaries to their respective employees.

 

Section 6. 
Successors and Assigns. This Agreement will inure to the benefit of and be binding upon the Consultant, the Consultant’s
legal representatives and testate or intestate distributees, and the Employer, and its successors and assigns, including, in the
case of the Employer, any successor by merger or consolidation or a statutory receiver or any other person or firm or corporation
to which all or substantially all of the respective assets and business of the Employer may be sold or otherwise transferred. The
Consultant may not assign any of his rights under this Agreement without the prior written consent of the Employer. Except as expressly
provided herein, nothing in this Agreement shall be construed to give any person other than the parties to this Agreement any legal
or equitable right, remedy or claim under or with respect to this Agreement or any provision of this Agreement.

 

Section 7. 
Waiver. The rights and remedies of the parties to this Agreement are cumulative and not alternative. Neither the failure
nor any delay by any party in exercising any right, power or privilege under this Agreement or the documents referred to in this
Agreement will operate as a waiver of such right, power or privilege, and no single or partial exercise of any such right, power
or privilege will preclude any other or further exercise of such right, power or privilege or the exercise of any other right,
power or privilege.

 

Section 8. 
Modification. This Agreement may only be amended by a written agreement executed by both parties.

 

Section 9. 
Notices. All notices and other communications under this Agreement must be in writing and will be deemed to have been
duly given if delivered by hand or by nationally recognized overnight delivery service (receipt requested) or mailed by certified
mail with first class postage prepaid or certified email (return receipt requested):

 

	 	(a)	if to the Employer, to:
	 	 	 
	 	 	Enlivex Therapeutics,
Ltd.
	 	 	Kiriat Hadassa
P.O.B 1267
	 	 	Jerusalem Israel
91129 
	 	 	Attention:
CEO
	 	 	 
	 	(b)	if to Consultant, to:
	 	 	 
	 	 	A.S. Novik
Ltd.
	 	 	30 Anni-Maamin
Street
	 	 	Ramat Hasharon
	 	 	Israel 47212

  

Section 10. Entire
Agreement. This Agreement and any documents executed by the parties pursuant to this Agreement and referred to herein
constitute a complete and exclusive statement of the entire understanding and agreement of the parties hereto with respect to
their subject matter and supersede all other prior agreements and understandings, written or oral, relating to such
subject matter between the parties.

 

Section 11. Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such
provision will be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of
such provision or the remaining provisions of this Agreement. Without limiting the generality of the foregoing, if the
scope of any provision contained in this Agreement is too broad to permit enforcement to its full extent, but may be made
enforceable by limitations thereon, such provision shall be enforced to the maximum extent permitted by law, and the
Consultant hereby agrees that such scope may be judicially modified accordingly.

 

Section 12. Counterparts. This
Agreement and any amendments hereto may be executed in any number of counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same agreement.

 

IN WITNESS WHEREOF,
each of the parties hereto has caused this Agreement to be executed, all as of the day and year first above written.

 

	ENLIVEX THERAPEUTICS, LTD.	 	A.S. NOVIK LTD.
	 	 	 	 	 
	 	/s/ Eyal Fima	 	 	 
	By:	Eyal Fima		By:	/s/ Shai Novik           
	Its:	Chief Executive Officer	 	By:	Shai Novik

 

 

5Exhibit 4.7

 

Employment
Agreement 

 

This
personal Employment Agreement (the “Agreement”) is made and entered into as of November 1, 2018 (the “Effective
Date”), by and between Enlivex Therapeutics Ltd., registration number 513736264, a company incorporated in the
State of Israel, having its offices at Kiryat Hadassah POB 12167 Jerusalem 91120, Israel (the “Company”), and
Shmuel Hess, I.D. number 015384431, residing in 8B Peleg St, Nes Ziona, Israel 74040 (the “Employee”).

 

	WHEREAS	The
                                         Company desires to employ the Employee in the position of Chief Executive Officer (the
                                         “Position”) and the Employee desires to enter into such employment,
                                         on the terms and conditions hereinafter set forth.

 

		WHEREAS	the
                                         Employee represents that he has the requisite skill and knowledge to act as the Chief
                                         Executive Officer of the Company and fulfill the duties and responsibilities set forth
                                         herein.

 

	WHEREAS	the
                                         Company and the Employee acknowledge that this agreement may be replaced, at the Employee’s
                                         discretion, with a consultant agreement between the Company and the Employee, or an entity
                                         wholly owned by the Employee, governing the provision of services by Employee to the
                                         Company as a contractor, provided the aggregate cost to the Company remains the same.

 

NOW,
THEREFORE, in consideration of the agreements and covenants contained herein, the Company and the Employee hereby agree as
follows:

 

		1.	Preamble
                                         

 

		1.1.	The
                                         preamble of this Agreement constitutes an integral part thereof.

 

		1.2.	The
                                         division of the terms of this Agreement into clauses and the headings of the clauses
                                         are solely for the sake of convenience and they may not be used for interpretive purposes.
                                         The Appendixes to this Agreement constitute an integral part hereof.

 

		1.3.	References
                                         in this Agreement to a particular gender shall be applicable to all genders.

 

		2.	Exclusivity
                                         of the Agreement

 

		2.1.	This
                                         Agreement is personal and the terms and conditions of the employment of the Employee
                                         shall be solely as set forth in this Agreement.

 

		2.2.	This
                                         Agreement constitutes the entire agreement between the parties with respect to the subject
                                         matter hereof and supersedes all prior understandings, agreements, representations and
                                         discussions between them, oral or written.

 

		2.3.	Except
                                         as expressly provided in this Agreement, the Employee shall not be entitled to any payments
                                         or other benefits in respect of his employment and the termination of his employment
                                         with the Company.

 

     

     

    

 

		3.	Absence
                                         of Impediment to the Employee’s Employment

 

		3.1.	The
                                         Employee warrants, confirms and undertakes that: (i) he is entitled to enter into this
                                         Agreement and to assume all of the obligations pursuant hereto; (ii) there is no contractual
                                         or other impediment to his entering into this Agreement, fulfilling his obligations hereunder
                                         or to his employment with the Company; (iii) his entering into this Agreement and fulfilling
                                         his obligations hereunder do not require the consent of any person or entity and that
                                         on the date hereof he is free to provide services to the Company upon the terms specified
                                         in this Agreement; and (iv) in entering into this Agreement he is not in breach of any
                                         other agreement or obligation to which he is or was a party or by which he is bound.

 

		4.	Position
                                         and Duties

 

		4.1.	Position.
                                         The Employee will serve in a full-time position as Chief Executive Officer of the Company,
                                         subject to the terms and conditions of this Agreement. The Employee will report to the
                                         Board of Directors of the Company (the “Board”).

 

		4.2.	During
                                         the course of his employment with the Company, the Employee shall honestly, diligently,
                                         skillfully and faithfully serve the Company. The Employee undertakes to devote all his
                                         working time, efforts and the best of his qualifications and skills to promoting the
                                         business and affairs of the Company, and further undertakes to comply with the policies
                                         and working arrangements of the Company, to loyally and fully comply with the decisions
                                         of the Company, its management and his supervisors in Israel and abroad, to follow the
                                         Company procedures as established from time to time, to carry out the duties imposed
                                         upon him, whatever and whenever they shall be.

 

		4.3.	The
                                         Employee shall at all times act in a manner suitable for his position and status in the
                                         Company.

 

		4.4.	The
                                         Employee shall not, without the prior written authorization of the Company, directly
                                         or indirectly undertake any other employment, whether as an employee of another employer
                                         or independently as an agent or consultant or in any other manner (whether for compensation
                                         or otherwise), and shall not assume any position or render services in any of the above-stated
                                         manners to any other entity.

 

		4.5.	The
                                         Employee undertakes to notify the Company immediately and without delay regarding any
                                         matter or subject in respect of which he has a personal interest and/or which might create
                                         a conflict of interest with his position in the Company.

 

		4.6.	The
                                         Employee shall not directly or indirectly accept any commission, rebate, discount, or
                                         gratuity in cash or in kind, from any person who has or is likely to have a business
                                         relationship with the Company.

 

		5.	Salary
                                         

 

		5.1.	In
                                         consideration for the Employee’s employment with the Company, and subject to the fulfillment
                                         of all the Employee’s duties and obligations under this Agreement, commencing as of the
                                         Effective Date the Employee shall be entitled to a gross monthly salary of NIS 63,000
                                         (the “Salary”).

 

		5.2.	As
                                         the Employee is employed hereunder in a managerial position involving a fiduciary relationship
                                         between the Employee and the Company, the Work and Rest Law (5711-1951), and any other
                                         law amending or replacing such law, shall not apply to the Employee or to his employment
                                         with the Company, and the Employee shall not be entitled to any compensation in respect
                                         of such law. The Employee acknowledges and agrees that the Salary and the compensation
                                         set for him hereunder include a proper and just reward for the requirements of his position
                                         and status and the obligation to work at irregular hours of the day. Accordingly, the
                                         Employee shall not be entitled to any additional bonus or other payment for extra hours
                                         of work.

 

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		5.3.	The
                                         Salary shall be paid no later than the 9th day of each month, for the preceding month.

 

		5.4.	All
                                         the amounts specified in this Agreement are gross sums. The Company shall deduct and
                                         withhold all required taxes and other statutory payments, including health insurance
                                         contributions and social security contributions from the Salary and from all other rights
                                         and benefits received by the Employee.

 

		5.5.	The
                                         Employee shall regard and retain as confidential and shall not divulge to any of the
                                         Company’s employees and/or any third party, either during or after the Employee’s
                                         employment period, directly or indirectly, the terms of the Employee’s employment and
                                         Salary.

 

		5.6.	All
                                         social benefits and/or other payments due and payable to the Employee (if any) shall
                                         be calculated only on the basis of the Salary. It is hereby declared and agreed that
                                         all participation in expenses and any other benefits ,including, but without derogating
                                         from the generality of the foregoing, bonus payments (if payable) and benefits in kind
                                         given to the Employee in the terms of this Agreement or deriving therefrom, do not and
                                         shall not form part of the Salary.

 

		6.	Pension
                                         Insurance 

 

		6.1.	The
                                         Company and the Employee shall obtain and maintain a pension insurance to the Employee,
                                         in a Managers Insurance and/or a Pension Fund (the: “Pension Insurance”),
                                         according to the Employee’s choice.

 

		6.2.	The
                                         contributions to the Pension Insurance shall be as follows:

 

		(a)	In
                                         the event that the Pension Insurance is a Managers Insurance - The Company shall contribute
                                         on behalf of the Employee a monthly aggregated amount equal to thirteen and a third percent
                                         (13.33%) of the Salary, in the following portions: five percent (5%) of the Salary for
                                         life insurance and pension compensation and eight and a third percent (8.33%) of the
                                         Salary on the account of severance compensation. The Company shall deduct from the Employee’s
                                         Salary an aggregated amount equal to five percent (5%) of the Salary for such fund. In
                                         addition, the Company shall pay an amount of up to 2.5% of the Salary towards disability
                                         insurance.

 

		(b)	In
                                         the event that the Pension Insurance is a Pension Fund - The Company shall contribute
                                         on behalf of the Employee a monthly aggregated amount equal to fourteen and a third percent
                                         (14.33%) of the Salary, in the following portions: six percent (6%) of the Salary for
                                         pension compensation and eight and a third percent (8.33%) of the Salary on the account
                                         of severance compensation. The Company shall deduct from the Employee’s Salary an aggregated
                                         amount equal to five and a half percent (5.5%) of the Salary for such fund.

 

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		(c)	The
                                         Employee will be entitled to choose to be insured in both Manager Insurance and the Pension
                                         Fund, namely the Employee will be entitled to choose an amount of his Salary to be insured
                                         in a Manager Insurance and an amount of his Salary (being the balance of his Salary)
                                         that will be insured in a Pension Fund, all subject to the allocation percentages mentioned
                                         in Sections (a) and (b) above.

 

		6.3.	The
                                         Company’s allocations to the Pension Insurance on the Employee’s behalf are in
                                         accordance with the general approval of the Minister of Labor and Social Welfare regarding
                                         payments by employers to a pension fund and insurance fund in lieu of severance pay (hereinafter:
                                         the “General Approval”), annexed hereto as Appendix A,
                                         pursuant to Article 14 of the Severance Payments Law, 5723-1963 (the “Severance
                                         Payment Law”), and the Employee hereby acknowledges that the amounts contributed
                                         by the Company for severance compensation under the Pension Insurance, shall be deemed
                                         to be made instead of the severance payments to which the Employee may be entitled, under
                                         the provisions of the Severance Payment Law, and shall constitute a full and complete
                                         payment thereof.

 

		6.4.	The
                                         Company hereby waives any entitlement and/or right for reimbursement with respect to
                                         the severance compensation and acknowledges, that upon termination of the Employee’s
                                         employment in the Company, including inter alia, in the event of the Employee’s resignation,
                                         the Company shall release the severance compensation and shall transfer the severance
                                         compensation to the Employee, except in the event that: (i) the Company has terminated
                                         the Employee’s employment due to circumstances under which his entitlement for severance
                                         payment is denied pursuant to Articles 16 or 17 of the Severance Law; or (ii) the Employee
                                         has already withdrawn funds from the Managers Insurance and not because of “EIROA
                                         MEZAKE” according to Section 2(b) of the General Approval.

 

		7.	Advanced
                                         Study Fund

 

		7.1.	The
                                         Company shall make monthly contributions on the Employee’s behalf to a recognized advanced
                                         study fund (“Keren Hishtalmut”) (hereinafter the “Study Fund”),
                                         in an amount equal to 7.5% of the Salary. In addition, the Company shall deduct 2.5%
                                         from the Salary also to be paid to the Study Fund as recognized by the Income Tax Authorities.

 

		7.2.	The
                                         sums contributed by the Employee shall be deducted by the Company directly from the Salary.
                                         The Employee hereby instructs the Company to transfer to the Study Fund from each monthly
                                         Salary due to him the amount of the Employee’s and the Company’s contribution, as set
                                         forth above.

 

		7.3.	Should
                                         any tax or other compulsory payment be imposed and payable in respect of the Company’s
                                         contributions to the Study Fund, such tax shall be paid by the Employee and deductible
                                         according to law and it is hereby agreed and understood that the Company shall not gross-up
                                         any tax, or other compulsory payment, payable by the Employee.

 

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		8.	Additional
                                         Benefits

 

		8.1.	Vacation.
                                         During the Term, Employee shall be entitled to an aggregate of 30 days of paid vacation
                                         per calendar year. Such paid vacation shall accrue quarterly. Employee may accumulate
                                         or carry over up to 21 days of unused, accrued vacation to the next calendar year. For
                                         any partial year of employment, the number of vacation days shall be prorated.

 

		8.2.	Recreation
                                         Pay. The Employee shall be entitled to annual recreation pay (“Dmey Havra-ah”)
                                         reflecting ten (10) recreation days per annum.

 

		8.3.	Sick
                                         Leave. The Employee shall be entitled to sick leave (“Yemei Mahala”)
                                         as provided by the Sickness Pay Law, 5736-1976. The Employee shall notify the Company,
                                         immediately, of any absence due to sickness and furnish the Company with an applicable
                                         medical certificate to approve it. Absence without an applicable medical certificate
                                         shall be considered as absence due to vacation. Sick days are not redeemable and may
                                         not be converted into cash.

 

		8.4.	Bonus.
                                         The Company under its sole discretion shall considere upon the end of each calendar
                                         year to grant the Employee a bonus for special performance. It is hereby made clear that
                                         the bonus shall not be deemed a part of the Employee’s Salary for any purpose,
                                         including for purposes of calculation of severance pay, if any.

 

		8.5.	Cellular
                                         Phone. The Company shall provide a cellular phone for the Employee for the purpose
                                         of performing his duties hereunder. The Company shall bear all expenses of the usage
                                         of such cellular phone by the Employee. The cellular phone will be returned to the Company
                                         by the Employee upon the termination of the employment relations between the parties,
                                         for any reason whatsoever.

 

		8.6.	Expenses.
                                         The Company shall reimburse the Employee for reasonable business expenses actually
                                         incurred directly in performing the duties outlined under this Agreement, subject to
                                         an itemized account of such expenses substantiated by appropriate receipts, all in accordance
                                         with the Company’s policy from time to time.

 

		9.	Company
                                         Car/Travel Expenses

 

		9.1.	The
                                         Company shall pay the Employee travel expenses as required by law.

 

		9.2.	The
                                         Company shall make available for Employee’s use during the Term, a leased automobile
                                         at a list price of up to 170,000 NIS. The Company shall bear all operational (including
                                         gasoline), maintenance and insurance expenses related to such automobile, while the Employee
                                         shall bear any associated tax payments relating to said car.

 

		10.	Employment
                                         Term and Termination

 

		10.1.	This
                                         Agreement shall be in effect commencing as of the Effective Date and shall continue in
                                         full force and effect for an undefined period, unless and until terminated as hereinafter
                                         provided.

 

		10.2.	This
                                         Agreement may be terminated by either party, at any time and for any reason, pursuant
                                         to the delivery of a 90 day prior written notice by the terminating party (the “Notice
                                         Period”).

 

    - 5 -

     

    

 

		10.3.	During
                                         the Notice Period and unless otherwise determined by the Company the Employee shall continue
                                         to perform his duties until the conclusion of the Notice Period, and cooperate with the
                                         Company in assisting the integration of the person who will assume the Employee’s responsibilities.
                                         Notwithstanding the aforementioned, the Company shall have the right not to take advantage
                                         of the full Notice Period and may terminate the Employee’s employment at any time during
                                         the Notice Period. In the event of such termination, the Company shall pay the Employee
                                         his Salary for the remainder of the Notice Period.

 

		10.4.	It
                                         is hereby expressly stated that the Company reserves the right to terminate the Employee’s
                                         employment at any time during the Notice Period, regardless of whether notice of termination
                                         of employment was delivered by the Company or whether such notice was delivered by the
                                         Employee. In the latter case such termination shall not constitute a dismissal of the
                                         Employee by the Company.

 

		10.5.	Without
                                         derogating from the Company’s rights under this Agreement and according to law,
                                         and notwithstanding the foregoing, the Company may terminate the Employee’s employment
                                         immediately without the delivery of a prior written notice and/or payment for Notice
                                         Period, in the event of “Cause” (as defined below and subject to any applicable
                                         law) and the employment relationship shall be deemed effectively terminated as of the
                                         time of delivery of such notice.

 

The
term “Cause” shall mean (a) a breach of fiduciary obligations or duties of care, including but not limited
to, theft, embezzlement, self-dealing, prohibited willful disclosure to unauthorized persons or entities of confidential or proprietary
information of or relating to the Company, its business, and its subsidiaries, affiliates or associated entities; (b) conviction
of the Employee in a crime or felony involving moral turpitude or any crime involving fraud; (c) the Employee’s serious intentional
misconduct which adversely affects the Company; (d) an intentional and willful action taken by the Employee harming the Company
or any of its subsidiaries, affiliates or associated entities; (e) falsification of Company’s or its subsidiaries’, affiliates’
or associated entities’ records or reports by the Employee; (f) any material breach of the Statement of Undertaking - Confidentiality,
Non-Compete and Intellectual Property attached hereto as Appendix B by the Employee; and (g) any other act or omission
that constitutes “cause” under the laws of the State of Israel or that do not entitle the Employee to severance payments
under the applicable law.

 

		10.6.	In
                                         the event that the Employee terminates his employment with the Company, for any reason,
                                         without the delivery of a written notice in accordance with Section 10.2 above, or completion
                                         of the Notice Period, the Company shall be entitled to deduct from any debt which it
                                         may owe the Employee an amount equal to the salary that would have been paid to the Employee
                                         during the Notice Period, had he worked.

 

		10.7.	The
                                         Employee undertakes that immediately upon the termination of his employment with the
                                         Company, for any reason, he shall act as follows:

 

		(a)	He
                                         shall deliver and/or return to the Company all the documents, CD’s or other magnetic
                                         media, letters, notes, reports and other papers in his possession and relating to his
                                         employment with the Company and the fulfillment of his duties, as well as any equipment
                                         and/or other property belonging to the Company which was placed at his disposal, including
                                         any computer equipment, telephone equipment, the Employee ID badge or other equipment.
                                         The Employee shall not have any lien or other similar right over any equipment and/or
                                         other property belonging to the Company as aforesaid.

 

    - 6 -

     

    

 

		(b)	He
                                         shall delete any information relating to the Company or its business from his personal
                                         computer, if any.

 

		(c)	He
                                         shall coordinate the termination of his employment with his supervisors, and he shall
                                         transfer in an orderly fashion and in accordance with Company procedures and in accordance
                                         with the timetable determined by his supervisors, all documents and information and all
                                         matters which with he dealt, to whomever the Company instructs, all in a manner satisfactory
                                         to the Company.

 

		11.	Company’s
                                         Computers

 

		11.1.	The
                                         e-mail provided to the Employee by the Company upon the commencement of his employment
                                         is a professional e-mail, designated to be used by the Employee only for the purpose
                                         of performing his work in the Company and the Employee is required to use it only for
                                         professional purposes.

 

		11.2.	In
                                         order to guard Company’s confidential information and prevent impairments, computer viruses
                                         and transfer of illegal information and/or software and/or copyright infringement and/or
                                         destruction to computer web traffic and/or damages to Company’s communication and/or
                                         Company’s reputation and/or any other damages to the Company’s business and/or its ongoing
                                         business and its customers’ relations and in order to verify that the use of the Company’s
                                         computer systems is being done for work purposes and conducted in accordance with the
                                         applicable Company’s policies, and in order to prevent the Company’s exposure to any
                                         damage due to unauthorized use of Company’s computer network and communication system;
                                         It is hereby clarified, that the Company monitors any and all non-private information
                                         stored in the Company computers including professional e-mail and/or any information
                                         transferred through the Company’s computer and communication networks. Furthermore, the
                                         Company performs various backups of all information transferred through the Company’s
                                         computer network systems.

 

		11.3.	Monitoring
                                         shall be performed at all times without prior notice and by various means. Monitoring
                                         can be done either by technological means, with regard to traffic volume and content
                                         traffic or by human resources, to the extent necessary where it is being suspected that
                                         the Company’s policies were breached and/or where there is a need to locate information
                                         for ongoing work purposes, need to attend technical malfunctions and/or any other need
                                         required for professional and business needs.

 

		11.4.	The
                                         Company reserves the right to take control of the computer means provided to the Employee
                                         in order to perform his work at all times and without prior notice, and to block any
                                         access to it, in order to protect the Company’s rights, attending technical malfunctions
                                         and for any other professional and/or business purposes.

 

		11.5.	The
                                         Employee understands and free willingly acknowledges that the Company, as a organization
                                         which its work is conducted via computer means, is thus obligated, in order to guard
                                         proper management of its business, to execute all the means outlined in this Agreement.
                                         The Employee undertakes the restrictions derived from the means outlined in this Agreement
                                         and in Company’s policies.

 

		11.6.	Nothing
                                         herein, diminishes from the Employee’s right to open personal e-mail for himself without
                                         using Company’s computer means. Such personal e-mail shall not be subject to the Company’s
                                         monitoring and controlling means compelling all traffic that passes through the Company’s
                                         computers

 

    - 7 -

     

    

 

		11.7.	The
                                         Employee is aware of and agrees that the Company is entitled to put the information transferred
                                         in its computers and communication networks to any use, for the purpose of protecting
                                         its rights, at any and all time, without prior notice.

 

		12.	Confidentiality,
                                         Non-Competition and Intellectual Property Assignment 

 

As
a pre-condition to the entering into force of this Agreement, the Employee shall execute the Statement of Undertaking –
Confidentiality, Non-Compete and Intellectual Property attached hereto as Appendix B and constituting an
integral part of this Agreement.

 

		13.	Miscellaneous
                                         

 

		13.1.	This
                                         Agreement constitutes a “Notice” as defined in the Notice to Employee (Terms
                                         of Employment) Law 5762-2002.

 

		13.2.	This
                                         Agreement is personal and shall not invoke the provisions of any collective bargaining
                                         agreement (“Heskem Kibutsi”), collective arrangement (“Hesder Kibutsi”),
                                         expansion orders (“Tzavei Har’hava”) or any other custom, except and
                                         only to the extent so mandated by law.

 

		13.3.	All
                                         payments, benefits (including any benefits in kind) and participation in expenses payable
                                         under this Agreement or deriving therefrom, or from the Employee’s employment, are subject
                                         to deduction of income tax and other compulsory deductions under law as prevailing from
                                         time to time, and nothing in this Agreement shall be interpreted as imposing upon the
                                         Company any liability whatsoever for tax or other compulsory payment due by the Employee
                                         for payments or benefits or reimbursements for expenses as aforesaid, or as an undertaking
                                         on the part of the Company to gross-up any tax or compulsory payment due by the Employee.
                                         The Company shall withhold taxes according to the requirements under the applicable laws,
                                         rules and regulations, including the withholding of taxes at source.

 

		13.4.	No
                                         failure, delay of forbearance of either party in exercising any power or right hereunder
                                         shall in any way restrict or diminish such party’s rights and powers under this Agreement,
                                         or operate as a waiver of any breach or nonperformance by either party of any terms of
                                         conditions hereof.

 

		13.5.	In
                                         the event it shall be determined under any applicable law that a certain provision set
                                         forth in this Agreement is invalid or unenforceable, such determination shall not affect
                                         the remaining provisions of this Agreement.

 

		13.6.	This
                                         Agreement, including its Appendixes, is the entire agreement between the parties with
                                         respect to the subject matter hereof, and supersedes the Previous Agreement and any and
                                         all prior understandings, agreements and discussions between the parties, oral or written.

 

		13.7.	Any
                                         modification or amendment to the provisions of this Agreement and the appendixes hereto
                                         shall be valid only if effected in writing and signed by both parties hereto.

 

		13.8.	The
                                         Employee acknowledges and confirms that all terms of his employment are personal and
                                         confidential, and undertakes to keep such term in confidence and refrain from disclosing
                                         such terms to any third party.

 

    - 8 -

     

    

 

		13.9.	Any
                                         notice sent by prepaid registered mail by one party to the other shall be deemed to have
                                         been received by the addressee within three business days of its dispatch, and if delivered
                                         by hand - at the time of its delivery. The addresses of the parties hereto are as specified
                                         in the heading to this Agreement.

 

		13.10.	This
                                         Agreement shall be governed by the laws of the State of Israel and the competent courts
                                         in the district of Tel-Aviv shall have exclusive jurisdiction over any dispute arising
                                         between the parties with respect of this Agreement.

 

		13.11.	This
                                         Agreement may be assigned by the Company to any third party, at its sole discretion.
                                         The Employee may not assign or delegate his rights and obligations under this Agreement
                                         to any other party without the Company’s prior written approval.

 

IN
WITNESS WHEREOF, each of the parties hereto has executed this Agreement as of the day and year first above written.

 

	Enlivex
    Therapeutics Ltd.	 	Shmuel
    Hess
	 	 	 
	/s/
    Shai Novik	 	/s/
                                         Shmuel Hess

        

	Signature
                                         by Shai Novik

        
	 	Signature
    
	 	 	 
	Chairman
    of the Board	 	 
	Title

        

        
	 	

        

 

    - 9 -

     

    

 

Appendix
A

 

GENERAL
APPROVAL REGARDING PAYMENTS BY EMPLOYERS TO A PENSION FUND AND INSURANCE FUND IN LIEU OF SEVERANCE PAY

 

By
virtue of my power under Section 14 of the Severance Pay Law, 1963 (hereinafter: the “Law”), I certify that
payments made by an employer commencing from the date of the publication of this approval publication for his employee to a comprehensive
pension benefit fund that is not an insurance fund within the meaning thereof in the Income Tax (Rules for the Approval and Conduct
of Benefit Funds) Regulations, 1964 (hereinafter: the “Pension Fund”) or to managers insurance including the
possibility of an insurance pension fund or a combination of payments to an annuity fund and to a non-annuity fund (hereinafter:
the “Insurance Fund), including payments made by him by a combination of payments to a Pension Fund and an Insurance
Fund, whether or not the Insurance Fund has an annuity fund (hereinafter: the “Employer’s Payments), shall be made
in lieu of the severance pay due to the said employee in respect of the salary from which the said payments were made and for
the period they were paid (hereinafter: the “Exempt Salary”), provided that all the following conditions are
fulfilled:

 

		(1)	The
                                         Employer’s Payments -

 

		(a)	To
                                         the Pension Fund are not less than 141/3% of the Exempt Salary
                                         or 12% of the Exempt Salary if the employer pays for his employee in addition thereto
                                         also payments to supplement severance pay to a benefit fund for severance pay or to an
                                         Insurance Fund in the employee’s name in an amount of 21/3% of
                                         the Exempt Salary. In the event the employer has not paid an addition to the said 12%,
                                         his payments shall be only in lieu of 72% of the employee’s severance pay;

 

		(b)	To
                                         the Insurance Fund are not less than one of the following:

 

		(2)	131/3%
                                         of the Exempt Salary, if the employer pays for his employee in addition thereto also
                                         payments to secure monthly income in the event of disability, in a plan approved by the
                                         Commissioner of the Capital Market, Insurance and Savings Department of the Ministry
                                         of Finance, in an amount required to secure at least 75% of the Exempt Salary or in an
                                         amount of 21/2% of the Exempt Salary, the lower of the two (hereinafter:
                                         “Disability Insurance”);

 

		(3)	11%
                                         of the Exempt Salary, if the employer paid, in addition, a payment to the Disability
                                         Insurance, and in such case the Employer’s Payments shall only replace 72% of the Employee’s
                                         severance pay; In the event the employer has paid in addition to the foregoing payments
                                         to supplement severance pay to a benefit fund for severance pay or to an Insurance Fund
                                         in the employee’s name in an amount of 21/3% of the Exempt Salary,
                                         the Employer’s Payments shall replace 100% of the employee’s severance pay.

 

		(4)	No
                                         later than three months from the commencement of the Employer’s Payments, a written agreement
                                         is executed between the employer and the employee in which -

 

		(a)	The
                                         employee has agreed to the arrangement pursuant to this approval in a text specifying
                                         the Employer’s Payments, the Pension Fund and Insurance Fund, as the case may be; the
                                         said agreement shall also include the text of this approval;

 

		(b)	The
                                         employer waives in advance any right, which it may have to a refund of monies from his
                                         payments, unless the employee’s right to severance pay has been revoked by a judgment
                                         by virtue of Section 16 and 17 of the Law, and to the extent so revoked and/or the employee
                                         has withdrawn monies from the Pension Fund or Insurance Fund other than by reason of
                                         an entitling event; in such regard “Entitling Event” means death, disability
                                         or retirement at after the age of 60.

 

		(5)	This
                                         approval is not such as to derogate from the employee’s right to severance pay pursuant
                                         to any law, collective agreement, extension order or employment agreement, in respect
                                         of salary over and above the Exempt Salary.

 

Employee
Signature: _____________.

 

    - 10 -

     

    

 

Appendix
B

 

Statement
of Undertaking –Confidentiality, Non Compete and Intellectual Property

 

Eyal
Fima (the “Employee”) warrants and undertakes that for as long as he is employed by Enlivex Therapeutics Ltd.
(the: “Company”), and upon termination of employment thereafter, for any reason, he shall maintain in complete
confidence any matters that relate to the Company and its subsidiaries (all of the aforementioned entities shall be referred to
collectively as the “Company Group”), their affairs and/or business, pursuant to this Agreement, and since
the Employee has and will have access to the Company Group’s intellectual property he hereby declares and undertakes as
follows:

 

		1.	Confidentiality

 

		1.1.	The
                                         Employee undertakes to maintain the confidentiality of the Confidential Information (as
                                         defined below), during the term of his employment with the Company and after the termination
                                         of such employment, for any reason.

 

Without
derogating from the generality of the foregoing, the Employee hereby agrees that he shall not, directly or indirectly, disclose
or transfer to any person or entity, at any time, either during or subsequent to the employment period, any trade secrets or other
confidential information, whether patentable or not, of the Company Group, including but not limited to, all the Company Group’s
trade secrets, property, business, any information directly or indirectly related to research and development connected with present
or future products, inventions, hardware, software, production processes, discoveries, improvements, developments, innovations,
designs, drawings, sketches, design, calculations, diagrams, algorithms, formulas, computer files, computer programs, data, planning
processes, list of clients, list of suppliers, costing, prices, terms of payment, plans, business secrets, business plans, plans
for research, development, new products, marketing and selling, business plans, budgets and unpublished financial statements,
licenses, prices and costs, suppliers and customers, information regarding the skills and compensation of other employees of the
Company Group, names of clients, sales, and any other information related to the business of the Company Group and/or their clients,
including clients with whom the Company Group is negotiating and including affiliates and/or subsidiaries, present and future,
all the foregoing whether or not such information is protectable as a patent or any other proprietary right and any other information
purchased or received directly or indirectly in connection with Company Group, their affairs and/or business (collectively, “Confidential
Information”), of which the Employee is or becomes informed or aware during the employment period, whether or not developed
by the Employee. Confidential Information may be in any form including oral, writing, stored in a computer file and/or in any
other digital or other existing and/or future media.

 

Notwithstanding
the above, Confidential Information shall not include any information which: (i) was publicly known and made generally available
in the public domain prior to the time of disclosure to the Employee; (ii) becomes publicly known and made generally available
after disclosure by the Company through no action or inaction of the Employee; (iii) is required by law to be disclosed by the
Employee, provided that the Employee gives the Company a prompt written notice of such requirement prior to such disclosure and
assistance in obtaining an order protecting the information from public disclosure.

 

    - 11 -

     

    

 

		1.2.	The
                                         Employee undertakes not to use the Confidential Information for any purpose whatsoever
                                         other than the performance of his services on behalf of the Company. Without limiting
                                         the scope of this duty, he shall only use the Confidential Information for the benefit
                                         of the Company Group, and only to the extent required for the performance of the services
                                         and may not disclose the Confidential Information to any other third party who is not
                                         performing the service.

 

		1.3.	The
                                         Employee undertakes not to directly or indirectly give and/or transfer, sale, publish,
                                         distribution, for any purposes, to any third party, any information in any media, and
                                         not to photocopy and/or print and/or duplicate object containing any or all of the Confidential
                                         Information without the Company’s Group expressed prior written authorization.

 

		1.4.	In
                                         the event the Employee is in breach of any of his above obligations, he shall be liable
                                         to compensate the Company in respect of all damages and/or expenses incurred by the Company
                                         as a result of such a breach, including trial costs and legal fees and statutory VAT,
                                         and such being without derogating from any other relief and/or remedy available to the
                                         Company by virtue of any law.

 

		1.5.	Third
                                         Party Information. The Employee understands that the Company Group has received and
                                         in the future will receive from third parties confidential or proprietary information
                                         (“Third Party Information”) subject to a duty on the Company Group’s
                                         part to maintain the confidentiality of such information and to use it only for certain
                                         limited purposes. During the term of the Employee’s employment and thereafter, the Employee
                                         will hold Third Party Information in the strictest confidence and will not disclose Third
                                         Party Information to anyone (other than Company personnel who need to have such information
                                         in connection with their work for the Company) and will not use Third Party Information,
                                         except in connection with the Employee’s work for the Company, unless expressly authorized
                                         by an officer of the Company in writing,

 

		1.6.	No
                                         Improper Use of information of Prior employers and Others - the Employee undertakes
                                         that during his employment with the Company he will not improperly use or disclose any
                                         confidential information or trade secrets of any former employer or any other person
                                         to whom the Employee has an obligation of confidentiality, and he will not bring onto
                                         the premises of the Company any unpublished documents or any property belonging to any
                                         former employer or any other person to whom the Employee has an obligation of confidentiality
                                         unless consented to in writing by that former employer or person.

 

		2.	Non-Competition/
                                         Non-Solicitation

 

		2.1.	The
                                         Employee undertakes that during the period of his employment with the Company and for
                                         a period of twelve (12) months following the termination of his employment therewith,
                                         for any reason, he shall not, anywhere in the world,

 

		(a)	Directly
                                         or indirectly carry on or hold an interest in any company, venture, entity or other business
                                         (other than a minority interest in a publicly traded company) which directly harms or
                                         competes with the products or services of the Company Group (“Competing Business”),
                                         including, without limitation, as a shareholder.

 

    - 12 -

     

    

 

		(b)	Act
                                         as a consultant or employee or officer or in any managerial capacity in a Competing Business
                                         or supply in direct competition with the Company restricted services to any person who
                                         was provided with services by the Company Group during the period of twelve (12) months
                                         immediately prior to the termination date of the Employee’s employment with the Company;

 

		(c)	Solicit,
                                         canvass or approach or endeavor to solicit, canvass or approach any person who was provided
                                         with services by the Company at any time during the period of twelve (12) months immediately
                                         prior to the termination date of the Employee’s employment with the Company, for the
                                         purpose of offering services or products which directly compete with the services or
                                         products supplied by the Company Group.

 

		(d)	Employ,
                                         solicit or entice away or endeavor to solicit or entice away from the Company Group any
                                         person employed by the Company Group at any time during the period of twelve (12) months
                                         immediately prior to the termination date of the Employee’s employment with the Company.

 

		3.	Intellectual
                                         Property, Copyright and Patents

 

		3.1.	The
                                         Employee hereby assigns to the Company, all of the Employee’s rights, title and
                                         interest in and to all inventions, trade secrets, professional secrets, innovations,
                                         copyrightable works, Confidential Information, discoveries, processes, designs, works
                                         of authorship, and other intellectual property and all improvements on existing inventions,
                                         discoveries, processes, designs, works and other intellectual property made or discovered
                                         by the Employee or any person subordinate to him during the term of employment or as
                                         a result of such employment with the Company, for no additional consideration provided
                                         that he shall not be required to bear any expenses as a result of such assignment. The
                                         Company and its successors shall be entitled to protect any invention and/or patent and/or
                                         trade secret and/or professional secret and/or innovation as aforesaid by way of registration
                                         and/or in any other manner, in Israel or anywhere else in the world.

 

		3.2.	The
                                         Employee declares that his salary shall constitute full consideration for the above assignment
                                         in accordance with Section 134 of the Patents Law – 1967 (hereinafter: the “Patents
                                         Law”) and he shall not be entitled to royalties and/or to any other payments or
                                         considerations beside his salary for or in respect with the service invention and/or
                                         in respect to the above assignment and/or to any intellectual property outcome of his
                                         employment and/or in respect to the commercial use of the service invention and/or the
                                         products of his services to the Company.

 

		3.3.	The
                                         Employee undertakes that upon the demand of the Company, including after the termination
                                         of his employment for any reason, he shall sign, execute and deliver to the Company such
                                         documents as the Company may request to confirm the assignment of the Employee’s
                                         rights herein, and if requested by the Company, shall assist the Company, and shall execute
                                         any necessary documents, at the Company’s expense, in applying for and prosecuting
                                         any patents, trademarks, trade secrets or copyright registration which may be available
                                         in respect thereof in accordance with the laws of the State of Israel or any other foreign
                                         country.

 

		3.4.	In
                                         the event the Company is unable for any reason, after reasonable effort, to secure the
                                         Employee’s signature on any document needed in connection with the actions specified
                                         in the preceding paragraph, the Employee hereby irrevocably designates and appoints the
                                         Company and its duly authorized officers and agents as his agent and attorney in fact,
                                         which appointment is coupled with an interest, to act for and in the Employee’s behalf
                                         to execute, verify and file any such documents and to do all other lawfully permitted
                                         acts to further the purposes of the preceding paragraph with the same legal force and
                                         effect as if executed by the Employee.

 

    - 13 -

     

    

 

		3.5.	The
                                         Employee undertakes to deliver to the Company, written notice of any invention and/or
                                         patent and/or commercial secret and/or innovation invented by him and/or Employees of
                                         the Company and/or its successors who are subordinate to him, immediately upon the discovery
                                         thereof.

 

		3.6.	The
                                         Employee’s obligations pursuant to this Section 3 shall survive the termination of his
                                         employment with the Company and/or its successors and assigns with respect to inventions
                                         conceived by him during the term of his employment or as a result of his employment with
                                         the Company.

 

		3.7.	The
                                         Employee acknowledges that the restricted period of time and geographical area specified
                                         hereunder are reasonable, in view of the nature of the business in which the Company
                                         is engaged, the Employee’s knowledge of the Company’s business and the compensation
                                         he receives. Notwithstanding anything contained herein to the contrary, if the period
                                         of time or the geographical area specified herein should be determined to be unreasonable
                                         in any judicial proceeding, then the period of time and area of the restriction shall
                                         be reduced so that this Agreement may be enforced in such area and during such period
                                         of time as shall be determined to be reasonable by such judicial proceeding. The Employee
                                         acknowledges that the compensation and benefits granted to him by the Company under this
                                         Agreement were determined, inter alia, in consideration for his obligations under this
                                         Appendix.

 

		4.	General
                                         

 

		4.1.	Successors
                                         and Assigns. This Agreement will be binding upon the Employee’s heirs, executors,
                                         administrators and other legal representatives and will be for the benefit of the Company
                                         Group, its successors, and its assigns.

 

		4.2.	Waiver.
                                         No waiver by the Company of any breach of this Agreement shall be a waiver of any preceding
                                         or succeeding breach. No waiver by the Company of any right under this Agreement shall
                                         be construed as a waiver of any other right. The Company shall not be required to give
                                         notice to enforce strict adherence to all terms of this Agreement.

 

		4.3.	Assignment.
                                         This Agreement may be assigned by the Company. The Employee may not assign or delegate
                                         his duties under this Agreement without the Company’s prior written approval. 

 

		4.4.	Injunction.
                                         The Employee agrees that it would be difficult to measure damage to the Company Group
                                         from any breach of his undertakings set forth in Sections 1-3 above, and that injury
                                         to the Company from any such breach would be impossible to calculate, and that money
                                         damages would therefore be an inadequate remedy for any such breach. Accordingly, the
                                         Employee agrees that if he breaches any provision of Sections 1-3 hereof, the Company
                                         Group will be entitled, in addition to all other remedies it may have, to an injunction
                                         or other appropriate orders to restrain any such breach by the Employee without showing
                                         or proving any actual damage sustained by the Company Group.

 

		4.5.	Governing
                                         Law. This Agreement shall be governed by, and construed in accordance with the laws
                                         of the State of Israel, without giving effect to the rules respecting conflict-of-law.

 

	 		 
	 	Shmuel
    Hess	 
	 	 	 
	 	/s/ Shmuel
    Hess	 
	 	Signature	 

 

 

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Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00295-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00295-of-00352.parquet"}]]