Document:

Exhibit
10.61

 

EMPLOYMENT
AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT (this “Agreement”) is dated as of January 1, 2022 (the “Effective Date”)
and is entered into by and between Brian Murphy (the “Executive”) and NanoVibronix, Inc. (the “Company”).
The Company and the Executive shall be referred to herein as the “Parties.”

 

RECITALS

 

WHEREAS,
the Executive is presently serving as the Chief Executive Officer (“CEO”) of the Company;

 

WHEREAS,
the Company and the Executive mutually desire to memorialize the terms and conditions under which the Executive will continue to serve
as the CEO of the COMPANY;

 

WHEREAS,
the Company hereby employs the Executive, and the Executive hereby accepts employment as the CEO of the Company for the period and subject
to the terms and conditions contained in this Agreement; and

 

WHEREAS,
the Company and the Executive are parties to a certain Stock Options Purchase Agreement that, among other things, affects the Parties’
existing and continued employment relationship and contains certain conditions and limitations on the Executive’s right to purchase
a portion of the Company’s capital stock.

 

NOW,
THEREFORE, in consideration of the mutual promises and agreements contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the Parties hereby agree as follows:

 

ARTICLE
I

DEFINITIONS

 

	A.	“Term”
    refers to the period during which the Executive is employed by the Company as the Company’s CEO under this Agreement.
	 	 
	B.	“Confidential
    Information” includes any trade secrets or confidential or proprietary information of the Company, including, but not
    limited to, the following: methods of operation, products, inventions, services, processes, equipment, know-how, technology, technical
    data, policies, strategies, designs, formulas, developmental or experimental work, improvements, discoveries, research, plans for
    research or future products and services, database schemas or tables, software, development tools or techniques, training procedures,
    training techniques, training manuals, business information, marketing and sales methods, plans and strategies, competitors, markets,
    market surveys, techniques, production processes, infrastructure, business plans, distribution and installation plans, processes
    and strategies, methodologies, budgets, financial data and information, customer and client information, prices and costs, fees,
    customer and client lists and profiles, employee, customer and client nonpublic personal information, supplier lists, business records,
    product construction, product specifications, audit processes, pricing strategies, business strategies, marketing and promotional
    practices, management methods and information, plans, reports, recommendations and conclusions, information regarding the skills
    and compensation of employees and contractors of the Company, and other business information disclosed to the Executive by the Company,
    either directly or indirectly, in writing, orally, or by drawings or observation. “Confidential Information”
    does not include, and there shall be no obligation hereunder with respect to, information that (i) is generally available to
    the public on the date of this Agreement or (ii) becomes generally available to the public other than as a result of a disclosure
    not otherwise permissible hereunder.

 

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	C.	“Cause,”
    as used herein in reference to termination of the Executive’s employment with the Company, shall mean the Executive’s
    (a) intentional and material dishonesty in the performance of the Executive’s duties for the Company, including any acts of
    theft, embezzlement, or fraud; (b) indictment or conviction of, or pleading nolo contendere or guilty to, a felony or a crime involving
    moral turpitude; (c) refusal to perform, or intentional disregard of, in any material respect, the Executive’s duties and responsibilities
    under this Agreement; and (d) incurable material breach of this Agreement or any other agreement to which the Executive and the Company
    are parties. In each such event listed above, if the circumstances are curable, the Company shall give the Executive written notice
    thereof which shall specify in reasonable detail the circumstances constituting Cause, and there shall be no Cause with respect to
    any such circumstances if cured by the Executive within thirty (30) days after such notice.
	 	 
	D.	“Good
    Reason,” as used herein in reference to termination of the Executive’s employment with the Company, shall mean:
    (a) any material reduction, without the Executive’s consent, in the Executive’s duties or responsibilities; (b) a material
    breach by the Company of this Agreement or any other agreement to which the Executive and the Company are parties; (c) any material
    reduction in the Executive’s then current base salary plus target bonus opportunity compensation; or (d) any requirement that
    the Executive relocate or spend more than 50% of the next fiscal year in a location more than 50 miles from his current place of
    residence. In each such event listed above, the Executive shall give the Company written notice thereof which shall specify in reasonable
    detail the circumstances constituting Good Reason, and there shall be no Good Reason with respect to any such circumstances if cured
    by the Company within thirty (30) days after such notice.
	 	 
	E.	“Change
    in Control” shall mean: (a) any merger, acquisition or similar transaction or series of related transactions in which
    the Company is not the surviving entity, except for a transaction the principal purpose of which is to change the jurisdiction in
    which the Company is incorporated; (b) the sale, transfer or other disposition of all or substantially all of the assets of the Company;
    or (c) any reverse merger or acquisition in which the Company is the surviving entity but in which more than fifty percent (50%)
    of the Company’s outstanding voting stock is transferred to holders different from those who held the stock immediately prior
    to such merger.
	 	 
	F.	“Restricted
    Period” means during the Executive’s employment with the Company and for a period of twelve (12) months immediately
    following the date of termination of Executive’s employment with the Company for any reason.

 

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	G.	“Competing
    Business” means any business, individual, partnership, firm, corporation or other entity that is competing with any
    aspect of the Company’s business.
	 	 
	H.	“Work
    Product” shall mean, collectively, all work product, information, inventions, original works of authorship, ideas,
    know-how, processes, designs, computer programs, photographs, illustrations, developments, trade secrets and discoveries, including
    improvements thereto, that the Executive conceives, creates, develops, makes, reduces to practice, or fixes in a tangible medium
    of expression, either alone or with others.

 

ARTICLE
II

SERVICES
TO BE PROVIDED BY EXECUTIVE

 

	A.	Position
    and Responsibilities. The Executive shall be employed and serve as the CEO of the Company (together with such other position
    or positions consistent with the Executive’s title as the Board of Directors (the “Board”) shall
    specify from time to time) and shall report directly to the Board. The Executive shall have such duties and responsibilities commensurate
    with such title, and as the Board may require of the Executive from time to time. The Executive also agrees to serve, if elected,
    as an officer or director of the Company or any other affiliate of the Company, in each such case at no compensation in addition
    to that provided for in this Agreement. The Company will use its best efforts to cause the Executive to be elected as a member of
    the Board as long as the Executive continues to serve as the CEO. Should the Executive’s employment terminate for any reason,
    the Executive shall resign as a member of the Board.
	 	 
	B.	Performance.
    The Executive shall devote, for the number of hours and during the times mutually agreed to by the parties, the Executive’s
    time, energy, skill and reasonable best efforts to the performance of the Executive’s duties hereunder in a manner that will
    faithfully and diligently further the business and interests of the Company, and shall exercise reasonable best efforts to perform
    the Executive’s duties in a diligent, trustworthy, good faith and business-like manner, all for the purpose of advancing the
    business of the Company. The Executive shall at all times act in a manner consistent with Executive’s position as CEO.
	 	 
	C.	Compliance.
    In the performance of the Executive’s duties hereunder and as the CEO of the Company, the Executive agrees to act in accordance
    with high business and ethical standards at all times. The Executive shall comply with policies, codes of conduct, codes of ethics,
    written manuals and lawful directives of the Company and any of its affiliates. The Executive shall keep the Board promptly and fully
    informed of the Executive’s conduct in connection with the business affairs of the Company. The Executive shall report to the
    Board the Executive’s own wrongdoing and any wrongdoing or proposed wrongdoing of any other employee, director, affiliate or
    contractor of the Company or other person performing services on behalf of or for the Company immediately upon becoming aware of
    it.

 

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ARTICLE
III

COMPENSATION
FOR SERVICES

 

As
compensation for all services the Executive will perform under this Agreement, the Company shall pay the Executive, and the Executive
shall accept as full compensation, the following:

 

	A.	Base
    Salary. The Company shall pay the Executive an annual salary of $300,000 (USD), less any applicable payroll
    deductions and tax withholdings (the “Base Salary”), for all services rendered by the Executive under this
    Agreement. The Company shall pay the Executive the Base Salary in accordance with standard payroll practices of the Company.
	 	 
	B.	Performance
    Bonus. During each year of the Term, the Executive shall be eligible to receive an annual bonus (“Performance
    Bonus”) of up to $100,000 (USD), less applicable payroll deductions and tax withholdings. The Performance
    Bonus shall be based on the extent to which the Executive has met performance criteria for the year, as determined in good faith
    by the Board or the Compensation Committee of the Board, and be paid within thirty (30) days of the Company’s issuance of its
    audited financial statements for that year on Form 10-K (in the calendar year following the calendar year to which the Performance
    Bonus relates).
	 	 
	C.	Stock
    Options. The Executive has received, and may be eligible to receive, certain grants of incentive stock options to purchase
    shares of common stock of the Company (the “Stock Options”) set forth separately in the certain Stock Options
    Purchase Agreement(s).
	 	 
	D.	Expenses.
    The Company agrees that, during the Executive’s employment, it will reimburse the Executive for out-of-pocket expenses
    reasonably incurred in connection with the Executive’s performance of the Executive’s services hereunder, upon the presentation
    by the Executive of an itemized accounting of such expenditures, with supporting receipts. Reimbursements shall be in compliance
    with the Company’s expense reimbursement policies.
	 	 
	E.	Vacation.
    The Executive shall be eligible for four (4) weeks paid vacation in accordance with the Company’s policy in effect from
    time to time.
	 	 
	F.	Other
    Benefits. The Executive is entitled to participate in any group health insurance plan, 401(k) plan, disability plan, group
    life plan, and any other benefit or welfare program or policy that is made generally available, from time to time, to other employees
    of the Company, on a basis consistent with such participation and subject to the terms of the plan documents, as such plans may be
    modified, amended, terminated, or replaced from time to time. Notwithstanding anything to the contrary contained herein, in the event
    that the Company does not have a group health plan on the Effective Date and the Executive (and his eligible dependents) elect to
    continue group health plan coverage under the Executive’s prior employer’s group health plan in accordance with the Consolidated
    Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company agrees to pay or reimburse the Executive
    for 100% of the premiums due with respect to such COBRA coverage upon presentation by the Executive to the Company of a statement
    of premiums due with respect to such coverage, from the Effective Date until the earliest of: (i) the date the Executive and his
    eligible dependents are eligible for coverage under a group health plan of the Company; (ii) the end of the Term; or (iii) the date
    the Executive’s COBRA coverage terminates for any reason (other than non-payment of premiums).

 

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	G.	Code
    Section 409A.

 

	 	1.	To
    the extent (a) any payments to which the Executive becomes entitled under this Agreement, or any agreement or plan referenced herein,
    in connection with the termination of Executive’s employment with the Company or the Executive’s separation from service
    to the Company constitute deferred compensation subject to Section 409A of the Internal Revenue Code of 1986 as amended (the “Code”);
    (b) the Executive is deemed at the time of his termination/separation to be a “specified employee” under Section 409A
    of the Code; and (c) at the time of the Executive’s termination, the Company is publicly traded (as defined in Section 409A
    of the Code), then such payments (other than any payments permitted by Section 409A of the Code to be paid within six (6) months
    of the Executive’s termination/separation) shall not be made until the earlier of (1) the first day of the seventh month following
    the Executive’s termination/separation, or (2) the date of the Executive’s death following such termination/separation.
    Upon the expiration of the applicable deferral period, any payments which would have otherwise been made during that period (whether
    in a single lump sum or in installments) in the absence of this Article III shall be paid to the Executive or the Executive’s
    beneficiary in one lump sum, plus interest thereon, at the Delayed Payment Interest Rate (as defined below) computed from the date
    on which each such delayed payment otherwise would have been made to the Executive until the date of payment. For purposes of the
    foregoing, the “Delayed Payment Interest Rate” shall mean the national average annual rate of interest
    payable on jumbo six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday
    edition of The New York Times preceding the date of termination of the Executive’s employment with the Company or the Executive’s
    separation from service to the Company.
	 	 	 
	 	2.	To
    the extent any benefits provided under Article III above are otherwise taxable to the Executive, such benefits shall, for
    purposes of Section 409A of the Code, be provided as separate in-kind payments of those benefits, and the provision of in-kind benefits
    during one calendar year shall not affect the in-kind benefits to be provided in any other calendar year.
	 	 	 
	 	3.	In
    the case of any amounts payable to the Executive under this Agreement, or under any plan of the Company, that may be treated as payable
    in the form of “a series of installment payments,” as defined in Treas. Reg. §l.409A-2(b)(2)(iii), the Executive’s
    right to receive such payments shall be treated as a right to receive a series of separate payments for purposes of Treas. Reg. §l.409A-2(b)(2)(iii).
	 	 	 
	 	4.	It
    is intended that this Agreement comply with or be exempt from the provisions of Section 409A of the Code and the Treasury Regulations
    and guidance of general applicability issued thereunder, and in furtherance of this intent, this Agreement shall be interpreted,
    operated, and administered in a manner consistent with such intent.

 

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ARTICLE
IV

TERM
& TERMINATION

 

	A.	Term
    of Employment. The Term of the Executive’s employment under this Agreement shall continue in effect until the second
    anniversary of the Effective Date, unless earlier terminated by either party in accordance with this Article IV.
	 	 
	B.	Termination.
    Either Party may terminate the Executive’s employment with the Company at any time upon 90 days written notice to the other
    Party, with the date of termination of the Executive’s employment with the Company being the date provided in the notice of
    termination. Upon termination of the Executive’s employment, the Company shall pay the Executive: (i) any earned but unpaid
    Performance Bonus for the calendar year prior to the calendar year in which the Executive’s termination occurs, with payment
    of such Performance Bonus being due within the earlier of the time period specified in Article III, Section B or as specified
    in this Article IV, Section B; (ii) any accrued and unpaid vacation or similar pay to which the Executive is entitled as a
    matter of law or Company policy; and (iii) any unreimbursed expenses properly incurred prior to the date of termination (the “Accrued
    Obligations”). The Accrued Obligations shall be payable in a lump sum within the time period required by applicable
    law, and in no event later than thirty (30) days following the date of termination of the Executive’s employment. Except for
    the Accrued Obligations and any other payments owed pursuant to the applicable scenarios in Sections 1-3 below, upon termination
    of the Executive’s employment, the Company shall have no further liability or obligations to the Executive in connection with
    the Executive’s employment under this Agreement. The Executive’s termination of employment under this Agreement shall
    also constitute the Executive’s resignation as an officer or director of any affiliate or subsidiary of the Company, as applicable.

 

	 	1.	Termination
    for Cause or Resignation Without Good Reason. In the event the Company terminates the Executive’s employment for Cause
    (defined below), or the Executive voluntarily resigns without Good Reason (defined below), the Company shall have no further liability
    or obligation to the Executive under this Agreement or in connection with the Executive’s employment hereunder, except for
    the Accrued Obligations. The Accrued Obligations shall be payable in a lump sum within the time period required by applicable law,
    and in no event later than thirty (30) days following the date of the Executive’s termination.
	 	 	 
	 	2.	Termination
    Without Cause or Resignation For Good Reason. In the event the Executive’s employment is terminated by the Company
    without Cause or by the Executive for Good Reason, and subject to the Executive releasing the Company from claims by executing and
    timely returning a form provided by the Company, which form shall be irrevocable no later than sixty (60) days following the date
    of the Executive’s termination of employment, the Executive shall receive the following: (a) any Accrued Obligations, payable
    in a lump sum within the time period required by applicable law, and in no event later than thirty (30) days following the date of
    termination of the Executive’s employment with the Company; (b) severance pay in an amount equal to the Executive’s Base
    Salary for twelve (12) months (the “Severance Period”) plus the full amount of the Performance Bonus for
    the year in which the termination of the Executive occurs, payable either as a lump sum within the same time period as the Accrued
    Obligations or in equal installments in accordance with the Company’s standard payroll policies, with the first installment
    being paid no later than sixty (60) days following the Company’s first regular payment date following the date of the Executive’s
    termination, in which event such first payment shall include all installments that would otherwise already have been paid to the
    Executive during the period of up to sixty (60) days following the Executive’s termination had payments of the installments
    commenced immediately following the date of the Executive’s termination; (c) an additional lump sum payment equivalent to the
    Company’s portion of the premium payable under the Company’s health insurance benefits and sufficient to cover twelve
    (12) months of COBRA coverage for the Executive, such amount be paid on the Company’s first regular pay date no later than
    on the sixtieth (60th) day following the date of the Executive’s termination.

 

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	 	3.	Termination
    Following a Change In Control. In the event that, following a Change in Control, the Executive’s employment is terminated
    by the Company (or its successor) without Cause or by the Executive for Good Reason, subject to the Executive releasing the Company
    (or its successor) from claims by executing and timely returning a form provided by the Company (or its successor), which form shall
    be irrevocable no later than sixty (60) days following the date of termination of the Executive’s employment with the Company,
    the Executive shall receive: (a) any Accrued Obligations, payable in a lump sum within the time period required by applicable law,
    and in no event later than thirty (30) days following the date of termination of the Executive’s employment with the Company;
    (b) severance pay equal to the Executive’s Base Salary for the Severance Period plus the full amount of the Performance Bonus
    for the year in which the termination of the Executive’s employment occurs, payable as a lump sum within the same time period
    as the Accrued Obligations; and (c) an additional lump sum payment equivalent to the Company’s portion of the premium payable
    under the Company’s health insurance benefits and sufficient to cover twelve (12) months of COBRA coverage for the Executive,
    such amount be paid on the Company’s first regular pay date no later than on the sixtieth (60th) day following the date of
    termination of the Executive’s employment. In addition, in the event of termination of the Executive’s employment under
    this Section 3 of Article IV following a Change in Control: (d) all unvested stock options and restricted stock units
    granted by the Company to the Executive prior to the Change in Control, that have been assumed or substituted by the Company’s
    successor, shall become fully vested as of the date of termination of the Executive’s employment; and (e) the time period in
    which the Executive may exercise his vested stock options shall be extended to the earlier of (i) the original expiration date of
    a certain option grant, or (ii) twelve (12) months following the date of termination of the Executive’s employment.

 

	C.	Survival.
    Upon termination or expiration of the Term of this Agreement, the Executive’s post-termination obligations shall continue
    as set forth in Article V below.

 

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ARTICLE
V

RESTRICTIVE
COVENANTS

 

	A.	Restrictive
                                            Covenants. In consideration for (i) the Company’s promise to provide Confidential
                                            Information to the Executive, (ii) the substantial economic investment made by the Company
                                            in the Confidential Information and goodwill of the Company, and/or the business opportunities
                                            disclosed or entrusted to the Executive, (iii) access to the Company’s customers and
                                            clients, and (iv) the Company’s employment of the Executive pursuant to this Agreement
                                            and the compensation and other benefits provided by the Company to the Executive, to protect
                                            the Company’s Confidential Information and business goodwill of the Company, the Executive
                                            agrees to the following restrictive covenants. For the purposes of this Article V,
                                            the term “Company” shall be read as broadly as possible to include,
                                            without limitation, any of its affiliates.

 

	 	1.	No
    Unauthorized Use or Disclosure of Confidential Information. The Executive acknowledges and agrees that Confidential Information
    is proprietary to and a trade secret of the Company and, as such, is a special and unique asset of the Company, and that any disclosure
    or unauthorized use of any Confidential Information by the Executive will cause irreparable harm and loss to the Company. The Executive
    understands and acknowledges that each and every component of the Confidential Information (i) has been developed by the Company
    at significant effort and expense and is sufficiently secret to derive economic value from not being generally known to other parties,
    and (ii) constitutes a protectable business interest of the Company. The Executive acknowledges and agrees that the Company owns
    the Confidential Information. The Executive agrees not to dispute, contest, or deny any such ownership rights either during or after
    the Executive’s employment with the Company. The Executive agrees to preserve and protect the confidentiality of all Confidential
    Information. Throughout the Executive’s employment with the Company and as reasonably necessary thereafter: (i) the Executive
    shall hold all Confidential Information in the strictest confidence, take all reasonable precautions to prevent its inadvertent disclosure
    to any unauthorized person, and follow all Company policies to protect the Confidential Information; and (ii) the Executive shall
    not, directly or indirectly, utilize, disclose or make available to any other person or entity, any of the Confidential Information,
    other than in the proper performance of the Executive’s duties.
	 	 	 
	 	2.	Return
    of Property and Confidential Information. Upon termination of the Executive’s employment for any reason, the Executive
    shall immediately return and deliver to the Company any and all Confidential Information, software, devices, cell phones, personal
    data assistants, credit cards, data, reports, proposals, lists, correspondence, materials, equipment, computers, hard drives, papers,
    books, records, documents, memoranda, manuals, e-mail, electronic or magnetic recordings or data, including all copies thereof, which
    belong to the Company or relate to the Company’s business and which are in the Executive’s possession, custody or control,
    whether prepared by the Executive or others. If at any time after termination of the Executive’s employment the Executive determines
    that the Executive has any Confidential Information in the Executive’s possession or control, the Executive shall immediately
    return to the Company all such Confidential Information in the Executive’s possession or control, including all copies and
    portions thereof.

 

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	 	3.	Non-Competition.
    The Executive agrees that during the Restricted Period, other than in connection with the Executive’s duties under this
    Agreement (including, without limitation, services to subsidiaries or affiliates of the Company), the Executive shall not, directly
    or indirectly, individually or as a principal, partner, stockholder, manager, agent, consultant, contractor, distributor, employee,
    lender, investor, or as a director or officer of any corporation or association, or in any other manner or capacity whatsoever, become
    employed by, control, manage, carry on, join, lend money for, operate, engage in, establish, perform services for, invest in, solicit
    investors for, consult for, do business with or otherwise engage in any business directly competing with the business of the Company.
    Notwithstanding the restrictions contained in this Section A-3 of Article V, the Executive may own an aggregate of
    not more than two percent (2%) of the outstanding stock of any class of any corporation engaged in a busines that directly competes
    with the business of the Company if such stock is listed on a national securities exchange in the United States (or a comparable
    exchange in a foreign jurisdiction) or regularly traded in the over-the-counter market by a member of a national securities exchange.
	 	 	 
	 	4.	Non-Solicitation.
    The Executive agrees that during the Restricted Period, other than in connection with Executive’s duties under this Agreement,
    the Executive shall not use any Confidential Information to, directly or indirectly, either as a principal, manager, agent, employee,
    consultant, officer, director, stockholder, partner, investor or lender or in any other capacity, and whether personally or through
    other persons:

 

	 	a.	Solicit
    business from, interfere with, induce, attempt to solicit business from, interfere with, induce or do business with any actual or
    prospective customer, client, supplier (including any content providers), manufacturer, vendor or licensor of the Company with whom
    the Company does or has done business;
	 	 	 
	 	b.	Attempt
    to influence, encourage, persuade or induce any actual or prospective customer, client, supplier (including any content providers),
    manufacturer, vendor or licensor of the Company with whom the Company does or did business to reduce the extent of its business dealings
    with the Company; or
	 	 	 
	 	c.	Solicit,
    induce or attempt to solicit or induce, engage or hire, on behalf of the Executive or any other person or entity, any person who
    is an employee or consultant of the Company or who was employed by the Company within the in the United States within the preceding
    twelve (12) months.

 

	 	5.	Non-Disparagement.
    The Executive recognizes that the Company’s goodwill and reputation are assets of great value to the Company which were
    obtained through great costs, time and effort. Therefore, the Executive agrees that during his employment and after the termination
    of his employment, the Executive shall not in any way, directly or indirectly, disparage, libel or defame the Company, its beneficial
    owners or its affiliates, their respective business or business practices, products or services, or employees or agents.

 

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	B.	Tolling.
    If the Executive violates any of the restrictions contained in this Article V, the Restricted Period shall be suspended
    so as to not run in favor of the Executive from the time of the commencement of any violation until the time when the Executive cures
    the violation to the satisfaction of the Company.
	 	 
	C.	Remedies.
    The Executive acknowledges that, in view of the nature of the Company’s business sand the Executive’s position with
    the Company, the restrictions contained in this Article V are reasonable and necessary to protect the Company’s legitimate
    business interests and that any violation thereof would result in irreparable injury to the Company. In the event of a breach by
    the Executive of Article V of this Agreement, the Company shall be entitled to a temporary restraining order and/or injunctive
    relief as appropriate to prevent the Execute from further breach. Such remedies shall not be deemed the exclusive remedies for a
    breach or threatened breach of this Article V but shall be in addition to any remedies available at law or in equity, including
    the recovery of damages from the Executive, the Executive’s agents, any future employer of the Executive, and any person that
    conspires or aids and abets the Executive in such breach or threatened breach of this Agreement.
	 	 
	D.	Reasonableness.
    The Executive hereby represents to the Company that the Executive has read and understands, and agrees to be bound by, the terms
    of this Article V. The Executive acknowledges that the geographic scope and duration of the covenants contained in this Article
    V are fair and reasonable in light of (i) the nature and wide geographic scope of the operations of the Company’s business;
    (ii) the Executive’s level of control over and contact with the business in the Restricted Area; and (iii) the amount of compensation,
    trade secrets and Confidential Information that the Executive is receiving in connection with the Executive’s employment by
    the Company.
	 	 
	E.	Reformation.
    If any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to
    geographic area or time, or otherwise unenforceable, the Parties intend for the restrictions herein set forth to be modified by the
    court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to
    this contractual modification prospectively at this time, the Company and the Executive intend to make this provision enforceable
    under the law or laws of all applicable jurisdictions so that the entire agreement not to compete and this Agreement as prospectively
    modified shall remain in full force and effect and shall not be rendered void or illegal.
	 	 
	F.	No
    Previous Restrictive Agreements. The Executive represents that, except as disclosed to the Company, the Executive is not
    bound by the terms of any agreement with any previous employer or other party to refrain from using or disclosing any trade secret
    or confidential or proprietary information in the course of the Executive’s employment with the Company or to refrain from
    competing, directly or indirectly, with the business of such previous employer or any other party. The Executive further represents
    that the Executive’s performance of all the terms of this Agreement and the Executive’s work duties for the Company do
    not and will not breach any agreement to keep in confidence proprietary information, knowledge or data acquired by the Executive
    in confidence or in trust prior to the Executive’s employment with the Company. The Executive shall not disclose to the Company
    or induce the Company to use any confidential or proprietary information or material belonging to any previous employer or others.

 

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ARTICLE
VI

INTELLECTUAL
PROPERTY

 

	A.	Assignment
    of Work Product. During the Executive’s employment with the Company and for a period of twelve (12) months following
    termination of the Executive’s employment for any reason, the Executive agrees that the Executive shall promptly make full
    written disclosure to the Company of all Work Product conceived, created, developed, made, reduced to practice, or fixed in a tangible
    medium of expression during the period of the Executive’s employment with the Company. Executive hereby assigns and shall be
    deemed to have assigned to the Company or its designee, all of the Executive’s right, title, and interest in and to any and
    all Work Product conceived, created, developed, made, reduced to practice, or fixed in a tangible medium of expression during the
    period of the Executive’s employment the Company that: (a) relates in any manner to the previous, existing or contemplated
    business, work, or investigations of the Company; (b) is or was suggested by, has resulted or will result from, or has arisen or
    will arise out of any work that the Executive has done or may do for or on behalf of the Company; (c) has resulted or will result
    from or has arisen or will arise out of any materials or information that may have been disclosed or otherwise made available to
    the Executive as a result of duties assigned to the Executive by the Company; or (d) has been or will be otherwise made through the
    use of the Company’s time, information, facilities, or materials, even if conceived, created, developed, made, reduced to practice,
    or fixed during other than working hours. The Executive further acknowledges that all original works of authorship that have been
    or will be made or fixed in a tangible medium of expression by the Executive (solely or jointly with others) within the scope of
    the Executive’s employment with the Company that are protectable by copyright are “Works Made for Hire,” as that
    term is defined in the United States Copyright Act. The Executive understands and agrees that the decision whether or not to commercialize
    or market any Work Product is within the Company’s sole discretion and for the Company’s sole benefit, and that no royalty
    will be due to the Executive as a result of the Company’s efforts to commercialize or market any such Work Product.
	 	 
	B.	Patent
    and Copyright Registrations. The Executive agrees to reasonably assist, at the Company’s expense, the Company or its
    designee(s) in securing the Company’s rights in any Work Product in any country, including (without limitation) by protecting
    the Company’s Confidential Information and data, executing any applications, specifications, oaths, assignments, affidavits,
    and all other instruments which the Company shall deem necessary in order to apply for and obtain such rights and in order to assign
    and convey to the Company, its successors, assigns, and nominees the sole and exclusive rights, title and interest in and to such
    Work Product. The Executive further agrees that, insofar it is within the Executive’s power to do so, the Executive’s
    obligation to execute or cause to be executed any such instrument or papers after the termination of this Agreement.

 

    	11

     

    

 

ARTICLE
VII

MISCELLANEOUS
PROVISIONS

 

	A.	Governing
    Law. This Agreement shall be governed by and construed under the laws of the State of New York. Venue of any litigation arising
    from this Agreement or any disputes relating to the Executive’s employment shall be in the United States District Court for
    the Southern District of New York, or a state district court of competent jurisdiction in New York, New York. The Executive and the
    Company hereby consent to, and agree not to challenge, personal or subject matter jurisdiction in the United States District Court
    for the Southern District of New York, or a state district court of competent jurisdiction in New York, New York, for any dispute
    relating to or arising out of this Agreement or the Executive’s employment with the Company.
	 	 
	B.	Headings.
    The paragraph headings contained in this Agreement are for convenience only and shall in no way or manner be construed as a part
    of this Agreement.
	 	 
	C.	Severability.
    In the event that any court of competent jurisdiction holds any provision in this Agreement to be invalid, illegal or unenforceable
    in any respect, the remaining provisions shall not be affected or invalidated and shall remain in full force and effect.
	 	 
	D.	Entire
    Agreement. This Agreement constitutes the entire agreement between the Parties, and fully supersedes any and all prior agreements,
    understanding or representations between the Parties pertaining to or concerning the subject matter of this Agreement, including,
    without limitation, the Executive’s employment with the Company. No oral statements or prior written material not specifically
    incorporated in this Agreement shall be of any force and effect, and no changes in or additions to this Agreement shall be recognized,
    unless incorporated in this Agreement by written amendment, such amendment to become effective on the date stipulated in it. Any
    amendment to this Agreement must be signed by all parties to this Agreement. The Executive acknowledges and represents that in executing
    this Agreement, the Executive did not rely, and has not relied, on any communications, promises, statements, inducements, or representation(s),
    oral or written, by the Company, except as expressly contained in this Agreement. The Parties represent that they relied on their
    own judgment in entering into this Agreement.
	 	 
	E.	Waiver.
    No waiver of any breach of this Agreement shall be construed to be a waiver as to succeeding breaches. The failure of a Party
    to insist in any one or more instances upon the other Party’s performance of any terms or conditions of this Agreement shall
    not be construed as a waiver of future performance of any such term, covenant or condition, but the obligations of either Party with
    respect thereto shall continue in full force and effect. The breach by one Party to this Agreement shall not preclude equitable relief
    or performance of the obligations in Article V.
	 	 
	F.	Modification.
    The provisions of this Agreement may be amended, modified or waived only with the prior written consent of the Company and the
    Executive, and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall be construed as a waiver
    of such provisions or affect the validity, binding effect or enforceability of this Agreement or any provision hereof.
	 	 
	G.	Beneficiaries
    and Assignment. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective
    heirs, successors, estates and/or legal representatives. The Executive may not assign this Agreement to a third party without the
    prior written approval of the Company. If the Company undergoes a Change in Control, The Company may assign its rights, together
    with its obligations hereunder, to any affiliate, subsidiary, or successor of the Company. Notwithstanding any such assignment by
    the Company, the Executive shall be entitled to receive compensation as set forth in Section B.2. of Article IV hereof.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK. SIGNATURE PAGE FOLLOWS.]

 

    	12

     

    

 

IN
WITNESS WHEREOF, the Company and the Executive have caused this Agreement to be executed on the date first set forth above, to be effective
as of that date.

 

	EXECUTIVE:	 
	 	 	 
	/s/ Brian Murphy	 
	Brian Murphy	 
	 	 	 
	COMPANY:	 
	 	 	 
	NanoVibronix,
    Inc.	 
	 	 	 
	By:	/s/
    Stephen Brown	 
	Name:	Stephen
    Brown	 
	Title:	Chief
    Financial Officer	 

 

    	13Exhibit
10.62

 

EMPLOYMENT
AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT (this “Agreement”) is dated as of January 1, 2022 (the “Effective Date”)
and is entered into by and between Stephen Brown (the “Executive”) and NanoVibronix, Inc. (the “Company”).
The Company and the Executive shall be referred to herein as the “Parties.”

 

RECITALS

 

WHEREAS,
the Executive is presently serving as the Chief Financial Officer (CFO) of the Company;

 

WHEREAS,
the Company and the Executive mutually desire to memorialize the terms and conditions under which the Executive will continue to serve
as the CFO of the Company;

 

WHEREAS,
the Company hereby employs the Executive, and the Executive hereby accepts employment as the CFO of the Company for the period and subject
to the term and conditions set forth in this Agreement; and

 

WHEREAS,
the Company and the Executive are parties to a certain Stock Options Purchase Agreement that, among other things, affects the Parties’
existing and continued employment relationship and contains certain conditions and limitations on the Executive’s right to purchase
a portion of the Company’s capital stock.

 

NOW,
THEREFORE, in consideration of the mutual promises and agreements contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the Parties hereby agree as follows:

 

ARTICLE
I

DEFINITIONS

 

	A.	“Term”
    refers to the period during which the Executive is employed by the Company as the Company’s CFO under this Agreement.
	 	 
	B.	“Confidential
    Information” includes any trade secrets or confidential or proprietary information of the Company, including, but not
    limited to, the following: methods of operation, products, inventions, services, processes, equipment, know-how, technology, technical
    data, policies, strategies, designs, formulas, developmental or experimental work, improvements, discoveries, research, plans for
    research or future products and services, database schemas or tables, software, development tools or techniques, training procedures,
    training techniques, training manuals, business information, marketing and sales methods, plans and strategies, competitors, markets,
    market surveys, techniques, production processes, infrastructure, business plans, distribution and installation plans, processes
    and strategies, methodologies, budgets, financial data and information, customer and client information, prices and costs, fees,
    customer and client lists and profiles, employee, customer and client nonpublic personal information, supplier lists, business records,
    product construction, product specifications, audit processes, pricing strategies, business strategies, marketing and promotional
    practices, management methods and information, plans, reports, recommendations and conclusions, information regarding the skills
    and compensation of employees and contractors of the Company, and other business information disclosed to the Executive by the Company,
    either directly or indirectly, in writing, orally, or by drawings or observation. “Confidential Information”
    does not include, and there shall be no obligation hereunder with respect to, information that (i) is generally available to
    the public on the date of this Agreement or (ii) becomes generally available to the public other than as a result of a disclosure
    not otherwise permissible hereunder.

 

    	1

     

     

	C.	“Cause,”
    as used herein in reference to termination of the Executive’s employment with the Company, shall mean the Executive’s
    (a) intentional and material dishonesty in the performance of the Executive’s duties for the Company, including any acts of
    theft, embezzlement, or fraud; (b) indictment or conviction of, or pleading nolo contendere or guilty to, a felony or a crime involving
    moral turpitude; (c) refusal to perform, or intentional disregard of, in any material respect, the Executive’s duties and responsibilities
    under this Agreement; and (d) incurable material breach of this Agreement or any other agreement to which the Executive and the Company
    are parties. In each such event listed above, if the circumstances are curable, the Company shall give the Executive written notice
    thereof which shall specify in reasonable detail the circumstances constituting Cause, and there shall be no Cause with respect to
    any such circumstances if cured by the Executive within thirty (30) days after such notice.
	 	 
	D.	“Good Reason,”
    as used herein in reference to termination of the Executive’s employment with the Company, shall mean: (a) any material
    reduction, without the Executive’s consent, in the Executive’s duties or responsibilities; (b) a material breach by the
    Company of this Agreement or any other agreement to which the Executive and the Company are parties; (c) any material reduction in
    the Executive’s then current base salary plus target bonus opportunity compensation; or (d) any requirement that the Executive
    relocate or spend more than 50% of the next fiscal year in a location more than 50 miles from his current place of residence. In
    each such event listed above, the Executive shall give the Company written notice thereof which shall specify in reasonable detail
    the circumstances constituting Good Reason, and there shall be no Good Reason with respect to any such circumstances if cured by
    the Company within thirty (30) days after such notice.
	 	 
	E.	“Change in
    Control” shall mean: (a) any merger, acquisition or similar transaction or series of related transactions in which
    the Company is not the surviving entity, except for a transaction the principal purpose of which is to change the jurisdiction in
    which the Company is incorporated; (b) the sale, transfer or other disposition of all or substantially all of the assets of the Company;
    or (c) any reverse merger or acquisition in which the Company is the surviving entity but in which more than fifty percent (50%)
    of the Company’s outstanding voting stock is transferred to holders different from those who held the stock immediately prior
    to such merger.

 

    	2

     

     

	F.	“Restricted
    Period” means during the Executive’s employment with the Company and for a period of twelve (12) months immediately
    following the date of termination of Executive’s employment with the Company for any reason.
	 	 
	G.	“Competing
    Business” means any business, individual, partnership, firm, corporation or other entity that is competing with any
    aspect of the Company’s business.
	 	 
	H.	“Work Product”
    shall mean, collectively, all work product, information, inventions, original works of authorship, ideas, know-how, processes, designs,
    computer programs, photographs, illustrations, developments, trade secrets and discoveries, including improvements thereto, that
    the Executive conceives, creates, develops, makes, reduces to practice, or fixes in a tangible medium of expression, either alone
    or with others.

 

ARTICLE
II

SERVICES
TO BE PROVIDED BY EXECUTIVE

 

	A.	Position and Responsibilities.
    The Executive shall be employed and serve as CFO of the Company (together with such other position or positions consistent with
    the Executive’s title as the Company’s Board of Director’s (the “Board”) shall specify
    from time to time) and shall report directly to the Board and the Chief Executive Officer. As the CFO, the Executive shall have such
    duties and responsibilities customarily commensurate with such title, and perform services for the Company as requested or as needed.
    Subject to the Executive performing his duties hereunder, the Company will use its best efforts to cause the Executive to be/remain
    elected as the Chief Financial Officer.
	 	 
	B.	Performance.
    The Executive shall devote, for the number of hours and during the times mutually agreed to by the parties, the Executive’s
    time, energy, skill and reasonable best efforts to the performance of the Executive’s duties hereunder in a manner that will
    faithfully and diligently further the business and interests of the Company, and shall exercise reasonable best efforts to perform
    the Executive’s duties in a diligent, trustworthy, good faith and business-like manner, all for the purpose of advancing the
    business of the Company. The Executive shall at all times act in a manner consistent with Executive’s position as CFO.
	 	 
	C.	Compliance. In
    the performance of the Executive’s duties hereunder and as the CFO of the Company, the Executive agrees to at all times act
    in accordance with high business and ethical standards and in accordance with the general fiduciary duty of executive officers and
    directors of the Company. The Executive shall comply with policies, codes of conduct, codes of ethics, written manuals and lawful
    directives of the Company and any of its affiliates. The Executive shall keep the Board promptly and fully informed of the Executive’s
    conduct in connection with the business and financial affairs of the Company. The Executive shall report to the Board the Executive’s
    own wrongdoing and any wrongdoing or proposed wrongdoing of any other employee, director, affiliate or contractor of the Company
    or other person performing services on behalf of or for the Company immediately upon becoming aware of it.

 

    	3

     

     

ARTICLE
III

COMPENSATION
FOR SERVICES

 

As
compensation for all services the Executive will perform under this Agreement, the Company shall pay the Executive, and the Executive
shall accept as full compensation, the following:

 

	A.	Base Salary.
    The Company shall pay the Executive an annual salary of $250,000 (USD), less any applicable payroll deductions
    and tax withholdings (the “Base Salary”), for all services rendered by the Executive under this Agreement.
    The Company shall pay the Executive the Base Salary in accordance with standard payroll practices of the Company.
	 	 
	B.	Performance Bonus.
    During each year of the Term, the Executive shall be eligible to receive an annual bonus (“Performance Bonus”)
    of up to $50,000 (USD), less applicable payroll deductions and tax withholdings. The Performance Bonus shall be based
    on the extent to which the Executive has met performance criteria for the year, as determined in good faith by the Board or the Compensation
    Committee of the Board, and be paid within thirty (30) days of the Company’s issuance of its audited financial statements for
    that year on Form 10-K (in the calendar year following the calendar year to which the Performance Bonus relates).
	 	 
	C.	Stock Options.
    The Executive has received, and may be eligible to receive, certain grants of incentive stock options to purchase shares of common
    stock of the Company (the “Stock Options”) as set forth separately in the certain Stock Options Purchase Agreement.
	 	 
	D.	Expenses. The
    Company agrees that, during the Executive’s employment, it will reimburse the Executive for out-of-pocket expenses reasonably
    incurred in connection with the Executive’s performance of the Executive’s services hereunder, upon the presentation
    by the Executive of an itemized accounting of such expenditures, with supporting receipts. Reimbursements shall be in compliance
    with the Company’s expense reimbursement policies.
	 	 
	E.	Vacation. The
    Executive shall be eligible for four (4) weeks paid vacation in accordance with the Company’s policy in effect from time to
    time.
	 	 
	F.	Other Benefits.
    The Executive is entitled to participate in any group health insurance plan, 401(k) plan, disability plan, group life plan, and
    any other benefit or welfare program or policy that is made generally available, from time to time, to other employees of the Company,
    on a basis consistent with such participation and subject to the terms of the plan documents, as such plans may be modified, amended,
    terminated, or replaced from time to time. Notwithstanding anything to the contrary contained herein, in the event that the Company
    does not have a group health plan on the Effective Date and the Executive (and his eligible dependents) elect to continue group health
    plan coverage under the Executive’s prior employer’s group health plan in accordance with the Consolidated Omnibus Budget
    Reconciliation Act of 1985, as amended (“COBRA”), the Company agrees to pay or reimburse the Executive for 100% of the
    premiums due with respect to such COBRA coverage upon presentation by the Executive to the Company of a statement of premiums due
    with respect to such coverage, from the Effective Date until the earliest of: (i) the date the Executive and his eligible dependents
    are eligible for coverage under a group health plan of the Company; (ii) the end of the Term; or (iii) the date the Executive’s
    COBRA coverage terminates for any reason (other than non-payment of premiums).

 

    	4

     

     

	G.	Code Section 409A.

 

	 	1.	To the extent (a) any payments
    to which the Executive becomes entitled under this Agreement, or any agreement or plan referenced herein, in connection with the
    termination of Executive’s employment with the Company or the Executive’s separation from service to the Company constitute
    deferred compensation subject to Section 409A of the Internal Revenue Code of 1986 as amended (the “Code”); (b) the Executive
    is deemed at the time of his termination/separation to be a “specified employee” under Section 409A of the Code; and
    (c) at the time of the Executive’s termination, the Company is publicly traded (as defined in Section 409A of the Code), then
    such payments (other than any payments permitted by Section 409A of the Code to be paid within six (6) months of the Executive’s
    termination/separation) shall not be made until the earlier of (1) the first day of the seventh month following the Executive’s
    termination/separation, or (2) the date of the Executive’s death following such termination/separation. Upon the expiration
    of the applicable deferral period, any payments which would have otherwise been made during that period (whether in a single lump
    sum or in installments) in the absence of this Article III shall be paid to the Executive or the Executive’s beneficiary in
    one lump sum, plus interest thereon, at the Delayed Payment Interest Rate (as defined below) computed from the date on which each
    such delayed payment otherwise would have been made to the Executive until the date of payment. For purposes of the foregoing, the
    “Delayed Payment Interest Rate” shall mean the national average annual rate of interest payable on jumbo
    six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of The New
    York Times preceding the date of termination of the Executive’s employment with the Company or the Executive’s separation
    from service to the Company.
	 	 	 
	 	2.	To the extent any benefits
    provided under Article III above are otherwise taxable to the Executive, such benefits shall, for purposes of Section 409A
    of the Code, be provided as separate in-kind payments of those benefits, and the provision of in-kind benefits during one calendar
    year shall not affect the in-kind benefits to be provided in any other calendar year.
	 	 	 
	 	3.	In the case of any amounts
    payable to the Executive under this Agreement, or under any plan of the Company, that may be treated as payable in the form of “a
    series of installment payments,” as defined in Treas. Reg. §l.409A-2(b)(2)(iii), the Executive’s right to receive
    such payments shall be treated as a right to receive a series of separate payments for purposes of Treas. Reg. §l.409A-2(b)(2)(iii).
	 	 	 
	 	4.	It is intended that this
    Agreement comply with or be exempt from the provisions of Section 409A of the Code and the Treasury Regulations and guidance of general
    applicability issued thereunder, and in furtherance of this intent, this Agreement shall be interpreted, operated, and administered
    in a manner consistent with such intent.

 

    	5

     

     

ARTICLE
IV

TERM
& TERMINATION

 

	A.	Term of Employment.
    The Term of the Executive’s employment under this Agreement shall continue in effect until the second anniversary of the
    Effective Date, unless earlier terminated by either party in accordance with this Article IV. On the second anniversary of
    the Effective Date, the Term will automatically renew on an annual basis unless written notification is provided by either Party
    of the desire not to renew/extend the Term for the subsequent year.
	 	 
	B.	Termination.
    Either Party may terminate the Executive’s employment with the Company at any time upon 90 days written notice to the other
    Party, with the date of termination of the Executive’s employment with the Company being the date provided in the notice of
    termination. Upon termination of the Executive’s employment, the Company shall pay the Executive: (i) any earned but unpaid
    Performance Bonus for the calendar year prior to the calendar year in which the Executive’s termination occurs, with payment
    of such Performance Bonus being due within the earlier of the time period specified in Article III, Section B or as specified
    in this Article IV, Section B; (ii) any accrued and unpaid vacation or similar pay to which the Executive is entitled as a
    matter of law or Company policy; and (iii) any unreimbursed expenses properly incurred prior to the date of termination (the “Accrued
    Obligations”). The Accrued Obligations shall be payable in a lump sum within the time period required by applicable
    law, and in no event later than thirty (30) days following the date of termination of the Executive’s employment. Except for
    the Accrued Obligations and any other payments owed pursuant to the applicable scenarios in Sections 1-3 below, upon termination
    of the Executive’s employment, the Company shall have no further liability or obligations to the Executive in connection with
    the Executive’s employment under this Agreement. The Executive’s termination of employment under this Agreement shall
    also constitute the Executive’s resignation as an officer or director of any affiliate or subsidiary of the Company, as applicable.

 

	 	1.	Termination for Cause
    or Resignation Without Good Reason. In the event the Company terminates the Executive’s employment for Cause or the
    Executive voluntarily resigns without Good Reason, the Company shall have no further liability or obligation to the Executive under
    this Agreement or in connection with the Executive’s employment hereunder, except for the Accrued Obligations. The Accrued
    Obligations shall be payable in a lump sum within the me period required by applicable law, and in no event later than thirty (30)
    days following the date of termination of the Executive’s employment with the Company.

 

    	6

     

     

	 	2.	Termination Without
    Cause or Resignation For Good Reason. In the event the Executive’s employment is terminated by the Company without
    Cause or by the Executive for Good Reason, and subject to the Executive releasing the Company from claims by executing and timely
    returning a form provided by the Company, which form shall be irrevocable no later than sixty (60) days following the date of the
    Executive’s termination of employment, the Executive shall receive the following: (a) any Accrued Obligations, payable in a
    lump sum within the time period required by applicable law, and in no event later than thirty (30) days following the date of termination
    of the Executive’s employment with the Company; (b) severance pay in an amount equal to the Executive’s Base Salary for
    twelve (12) months (the “Severance Period”) plus the full amount of the Performance Bonus for the year
    in which the termination of the Executive occurs, payable either as a lump sum within the same time period as the Accrued Obligations
    or in equal installments in accordance with the Company’s standard payroll policies, with the first installment being paid
    no later than sixty (60) days following the Company’s first regular payment date following the date of termination of the Executive’s
    employment with the Company, in which event such first payment shall include all installments that would otherwise already have been
    paid to the Executive during the period of up to sixty (60) days following the date of termination of the Executive’s employment
    with the Company had payments of the installments commenced immediately following the date of termination of the Executive’s
    employment with the Company; (c) an additional lump sum payment equivalent to the Company’s portion of the premium payable
    under the Company’s health insurance benefits and sufficient to cover twelve (12) months of COBRA coverage for the Executive,
    such amount be paid on the Company’s first regular pay date no later than on the sixtieth (60th) day following the date of
    the Executive’s termination.
	 	 	 
	 	3.	Termination Following
    a Change In Control. In the event that, following a Change in Control, the Executive’s employment is terminated by
    the Company (or its successor) without Cause or by the Executive for Good Reason, subject to the Executive releasing the Company
    (or its successor) from claims by executing and timely returning a form provided by the Company (or its successor), which form shall
    be irrevocable no later than sixty (60) days following the date of termination of the Executive’s employment with the Company,
    the Executive shall receive: (a) any Accrued Obligations, payable in a lump sum within the time period required by applicable law,
    and in no event later than thirty (30) days following the date of termination of the Executive’s employment with the Company;
    (b) severance pay equal to the Executive’s Base Salary for the Severance Period plus the full amount of the Performance Bonus
    for the year in which the termination of the Executive’s employment occurs, payable as a lump sum within the same time period
    as the Accrued Obligations; and (c) an additional lump sum payment equivalent to the Company’s portion of the premium payable
    under the Company’s health insurance benefits and sufficient to cover twelve (12) months of COBRA coverage for the Executive,
    such amount be paid on the Company’s first regular pay date no later than on the sixtieth (60th) day following the date of
    termination of the Executive’s employment. In addition, in the event of termination of the Executive’s employment under
    this Section 3 of Article IV following a Change in Control: (d) all unvested stock options and restricted stock units
    granted by the Company to the Executive prior to the Change in Control, that have been assumed or substituted by the Company’s
    successor, shall become fully vested as of the date of termination of the Executive’s employment; and (e) the time period in
    which the Executive may exercise his vested stock options shall be extended to the earlier of (i) the original expiration date of
    a certain option grant, or (ii) twelve (12) months following the date of termination of the Executive’s employment.

 

    	7

     

     

	C.	Survival. Upon
    termination or expiration of the Term of this Agreement, the Executive’s post-termination obligations shall continue as set
    forth in Article V below.

 

ARTICLE
V

RESTRICTIVE
COVENANTS

 

	A.	Restrictive Covenants.
    In consideration for (i) the Company’s promise to provide Confidential Information to the Executive, (ii) the substantial
    economic investment made by the Company in the Confidential Information and goodwill of the Company, and/or the business opportunities
    disclosed or entrusted to the Executive, (iii) access to the Company’s customers and clients, and (iv) the Company’s
    employment of the Executive pursuant to this Agreement and the compensation and other benefits provided by the Company to the Executive,
    to protect the Company’s Confidential Information and business goodwill of the Company, the Executive agrees to the following
    restrictive covenants. For the purposes of this Article V, the term “Company” shall be read as broadly
    as possible to include, without limitation, any of its subsidiaries or affiliates.

 

	 	1.	No Unauthorized Use
    or Disclosure of Confidential Information. The Executive acknowledges and agrees that Confidential Information is proprietary
    to and a trade secret of the Company and, as such, is a special and unique asset of the Company, and that any disclosure or unauthorized
    use of any Confidential Information by the Executive will cause irreparable harm and loss to the Company. The Executive understands
    and acknowledges that each and every component of the Confidential Information (i) has been developed by the Company at significant
    effort and expense and is sufficiently secret to derive economic value from not being generally known to other parties, and (ii)
    constitutes a protectable business interest of the Company. The Executive acknowledges and agrees that the Company owns the Confidential
    Information. The Executive agrees not to dispute, contest, or deny any such ownership rights either during or after the Executive’s
    employment with the Company. The Executive agrees to preserve and protect the confidentiality of all Confidential Information. Throughout
    the Executive’s employment with the Company and as reasonably necessary hereafter: (i) the Executive shall hold all Confidential
    Information in the strictest confidence, take all reasonable precautions to prevent its inadvertent disclosure to any unauthorized
    person, and follow all Company policies protecting the Confidential Information; and (ii) the Executive shall not, directly or indirectly,
    utilize, disclose or make available to any other person or entity, any of the Confidential Information, other than in the proper
    performance of the Executive’s duties.

 

    	8

     

     

	 	2.	Return of Property
    and Confidential Information. Upon termination of the Executive’s employment with the Company for any reason, the Executive
    shall immediately return and deliver to the Company any and all Confidential Information, software, devices, cell phones, personal
    data assistants, credit cards, data, reports, proposals, lists, correspondence, materials, equipment, computers, hard drives, papers,
    books, records, documents, memoranda, manuals, e-mail, electronic or magnetic recordings or data, including all copies thereof, which
    belong to the Company or relate to the Company’s business and which are in the Executive’s possession, custody or control,
    whether prepared by the Executive or others. If at any time after termination of the Executive’s employment the Executive determines
    that the Executive has any Confidential Information in the Executive’s possession or control, the Executive shall immediately
    return to the Company all such Confidential Information in the Executive’s possession or control, including all copies and
    portions thereof.
	 	 	 
	 	3.	Non-Competition.
    The Executive agrees that during the Restricted Period, other than in connection with the Executive’s duties under this
    Agreement (including, without limitation, services to subsidiaries or affiliates of the Company), the Executive shall not, directly
    or indirectly, individually or as a principal, partner, stockholder, manager, agent, consultant, contractor, distributor, employee,
    lender, investor, or as a director or officer of any corporation or association, or in any other manner or capacity whatsoever, become
    employed by, control, manage, carry on, join, lend money for, operate, engage in, establish, perform services for, invest in, solicit
    investors for, consult for, do business with or otherwise engage in any business directly competing with the business of the Company.
    Notwithstanding the restrictions contained in this Section A-3 of Article V, the Executive may own an aggregate of
    not more than two percent (2%) of the outstanding stock of any class of any corporation engaged in a business that directly competes
    with the business of the Company if such stock is listed on a national securities exchange in the United States (or a comparable
    exchange in a foreign jurisdiction) or regularly traded in the over-the-counter market by a member of a national securities exchange.
	 	 	 
	 	4.	Non-Solicitation.
    The Executive agrees that during the Restricted Period, other than in connection with Executive’s duties under this Agreement,
    the Executive shall not use any Confidential Information to, directly or indirectly, either as a principal, manager, agent, employee,
    consultant, officer, director, stockholder, partner, investor or lender or in any other capacity, and whether personally or through
    other persons:

 

	 	a.	Solicit business from,
    interfere with, induce, attempt to solicit business from, interfere with, induce or do business with any actual or prospective customer,
    client, supplier (including any content providers), manufacturer, vendor or licensor of the Company with whom the Company does or
    has done business;

 

    	9

     

     

	 	b.	Attempt to influence, encourage,
    persuade or induce any actual or prospective customer, client, supplier (including any content providers), manufacturer, vendor or
    licensor of the Company with whom the Company does or did business to reduce the extent of its business dealings with the Company;
    or
	 	 	 
	 	c.	Solicit, induce or attempt
    to solicit or induce, engage or hire, on behalf of the Executive or any other person or entity, any person who is an employee or
    consultant of the Company or who was employed by the Company within the in the United States within the preceding twelve (12) months.

 

	 	5.	Non-Disparagement.
    The Executive recognizes that the Company’s goodwill and reputation are assets of great value to the Company which were
    obtained through great costs, time and effort. Therefore, the Executive agrees that during his employment and after the termination
    of his employment, the Executive shall not in any way, directly or indirectly, disparage, libel or defame the Company, its beneficial
    owners or its affiliates, their respective business or business practices, products or services, or employees or agents.

 

	B.	Tolling. If
    the Executive violates any of the restrictions contained in this Article V, the Restricted Period shall be suspended so as
    to not run in favor of the Executive from the time of the commencement of any violation until the time when the Executive cures the
    violation to the satisfaction of the Company.
	 	 
	C.	Remedies. The
    Executive acknowledges that, in view of the nature of the Company’s business sand the Executive’s position with the Company,
    the restrictions contained in this Article V are reasonable and necessary to protect the Company’s legitimate business
    interests and that any violation thereof would result in irreparable injury to the Company. In the event of a breach by the Executive
    of Article V of this Agreement, the Company shall be entitled to a temporary restraining order and/or injunctive relief as
    appropriate to prevent the Execute from further breach. Such remedies shall not be deemed the exclusive remedies for a breach or
    threatened breach of this Article V but shall be in addition to any remedies available at law or in equity, including the
    recovery of damages from the Executive, the Executive’s agents, any future employer of the Executive, and any person that conspires
    or aids and abets the Executive in such breach or threatened breach of this Agreement.
	 	 
	D.	Reasonableness.
    The Executive hereby represents to the Company that the Executive has read and understands, and agrees to be bound by, the terms
    of this Article V. The Executive acknowledges that the covenants contained in this Article V are fair and reasonable
    in light of (i) the nature and wide geographic scope of the operations of the Company’s business; (ii) the Executive’s
    level of control over and contact with the business operations (regionally and/or internationally); and (iii) the amount of compensation,
    trade secrets and Confidential Information that the Executive is receiving in connection with the Executive’s employment by
    the Company.

 

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	E.	Reformation.
    If any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to
    geographic area or time, or otherwise unenforceable, the Parties intend for the restrictions herein set forth to be modified by the
    court making such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to
    this contractual modification prospectively at this time, the Company and the Executive intend to make this provision enforceable
    under the law or laws of all applicable jurisdictions so that the entire agreement not to compete and this Agreement as prospectively
    modified shall remain in full force and effect and shall not be rendered void or illegal.
	 	 
	F.	No Previous Restrictive
    Agreements. The Executive represents that, except as disclosed to the Company, the Executive is not bound by the terms of
    any agreement with any previous employer or other party to refrain from using or disclosing any trade secret or confidential or proprietary
    information in the course of the Executive’s employment with the Company or to refrain from competing, directly or indirectly,
    with the business of such previous employer or any other party. The Executive further represents that the Executive’s performance
    of all the terms of this Agreement and the Executive’s work duties for the Company do not and will not breach any agreement
    to keep in confidence any proprietary information, knowledge or data acquired by the Executive in confidence or in trust prior to
    the Executive’s employment with the Company. The Executive shall not disclose to the Company or induce the Company to use any
    confidential or proprietary information or material belonging to any previous employer or other third parties.

 

ARTICLE
VI

INTELLECTUAL
PROPERTY

 

	A.	Assignment of Work
    Product. During the Executive’s employment with the Company and the Restricted Period, the Executive agrees to promptly
    make full written disclosure to the Company of all Work Product of the Executive that was conceived, created, developed, made, reduced
    to practice, or fixed in a tangible medium of expression during the period of the Executive’s employment with the Company.
    Executive hereby assigns and shall be deemed to have assigned to the Company or its designee(s), all of the Executive’s right,
    title, and interest in and to any and all Work Product conceived, created, developed, made, reduced to practice, or fixed in a tangible
    medium of expression during the period of the Executive’s employment the Company that: (a) relates in any manner to the previous,
    existing or contemplated business, work, or investigations of the Company; (b) is or was suggested by, has resulted or will result
    from, or has arisen or will arise out of any work that the Executive has done or may do for or on behalf of the Company; (c) has
    resulted or will result from or has arisen or will arise out of any materials or information that may have been disclosed or otherwise
    made available to the Executive as a result of duties assigned to the Executive by the Company; or (d) has been or will be otherwise
    made through the use of the Company’s time, information, facilities, or materials, even if conceived, created, developed, made,
    reduced to practice, or fixed during other than working hours. The Executive further acknowledges that all original works of authorship
    that have been or will be made or fixed in a tangible medium of expression by the Executive (solely or jointly with others) within
    the scope of the Executive’s employment with the Company that are protectable by copyright are “Works Made for Hire,”
    as that term is defined in the United States Copyright Act. The Executive understands and agrees that the decision whether or not
    to commercialize or market any Work Product shall be within the Company’s sole discretion and for the Company’s sole
    benefit, and that no royalty will be due to the Executive as a result of the Company’s efforts to commercialize or market any
    such Work Product.

 

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	B.	Patent and Copyright
    Registrations. The Executive agrees to reasonably assist, at the Company’s expense, the Company or its designee(s)
    in securing the Company’s rights in any Work Product in any country, including (without limitation) by protecting the Company’s
    Confidential Information and data, executing any applications, specifications, oaths, assignments, affidavits, and all other instruments
    which the Company shall deem necessary in order to apply for and obtain such rights and in order to assign and convey to the Company,
    its successors, assigns, and nominees the sole and exclusive rights, title and interest in and to such Work Product. The Executive
    further agrees that, insofar it is within the Executive’s power to do so, the Executive’s obligation to execute or cause
    to be executed any such instrument or papers after the termination of this Agreement.

 

ARTICLE
VII

MISCELLANEOUS
PROVISIONS

 

	A.	Governing Law.
    This Agreement shall be governed by and construed under the laws of the State of New York. Venue of any litigation arising from
    this Agreement or any disputes relating to the Executive’s employment shall be in the United States District Court for the
    Southern District of New York, or a state district court of competent jurisdiction in New York, New York. The Executive and the Company
    hereby consent to, and agree not to challenge, personal or subject matter jurisdiction in the United States District Court for the
    Southern District of New York, or a state district court of competent jurisdiction in New York, New York, for any dispute relating
    to or arising out of this Agreement or the Executive’s employment with the Company.
	 	 
	B.	Headings. The
    paragraph headings contained in this Agreement are for convenience only and shall in no way or manner be construed as a part of this
    Agreement.
	 	 
	C.	Severability.
    In the event that any court of competent jurisdiction holds any provision in this Agreement to be invalid, illegal or unenforceable
    in any respect, the remaining provisions shall not be affected or invalidated and shall remain in full force and effect.
	 	 
	D.	Entire Agreement.
    This Agreement constitutes the entire agreement between the Parties, and fully supersedes any and all prior agreements, understanding
    or representations between the Parties pertaining to or concerning the subject matter of this Agreement, including, without limitation,
    the Executive’s employment with the Company. No oral statements or prior written material not specifically incorporated in
    this Agreement shall be of any force and effect, and no changes in or additions to this Agreement shall be recognized, unless incorporated
    in this Agreement by written amendment, such amendment to become effective on the date stipulated in it. Any amendment to this Agreement
    must be signed by all parties to this Agreement. The Executive acknowledges and represents that in executing this Agreement, the
    Executive did not rely, and has not relied, on any communications, promises, statements, inducements, or representation(s), oral
    or written, by the Company, except as expressly contained in this Agreement. The Parties represent that they relied on their own
    judgment in entering into this Agreement.

 

    	12

     

     

	E.	Waiver. No
    waiver of any breach of this Agreement shall be construed to be a waiver as to succeeding breaches. The failure of a Party to insist
    in any one or more instances upon the other Party’s performance of any terms or conditions of this Agreement shall not be construed
    as a waiver of future performance of any such term, covenant or condition, but the obligations of either Party with respect thereto
    shall continue in full force and effect. The breach by one Party to this Agreement shall not preclude equitable relief or performance
    of the obligations in Article V.
	 	 
	F.	Modification.
    The provisions of this Agreement may be amended, modified or waived only with the prior written consent of the Company and the
    Executive, and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall be construed as a waiver
    of such provisions or affect the validity, binding effect or enforceability of this Agreement or any provision hereof.
	 	 
	G.	Beneficiaries and
    Assignment. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs,
    successors, estates and/or legal representatives. The Executive may not assign this Agreement to a third party without prior written
    approval from the Company. If the Company undergoes a Change in Control, The Company may assign its rights, together with its obligations
    hereunder, to any affiliate, subsidiary, or successor of the Company. Notwithstanding any such assignment by the Company, the Executive
    shall be entitled to receive compensation as set forth in Section B.2. of Article IV hereof.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK. SIGNATURE PAGE FOLLOWS.]

 

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IN
WITNESS WHEREOF, the Company and the Executive have caused this Agreement to be executed on the date first set forth above, to be effective
as of that date.

 

	EXECUTIVE:	 
	 	 	 
	/s/ Stephen Brown	 
	Stephen Brown	 
	 	 	 
	COMPANY:	 
	 	 	 
	NanoVibronix, Inc.	 
	 	 	 
	By:	/s/ Brian
    Murphy	 
	Name:	Brian Murphy	 
	Title:	Chief Executive Officer	 

 

    	14

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