Document:

Exhibit 4.6

 

ASIA
Development (A.D.B.M.) LTD.

(the
"Company")

 (2016)
EQUITY INCENTIVE PLAN

 

	1.	Name and Purpose of the Plan

 

		1.1	This
                                         plan, which has been adopted by the Board of Directors of Asia Development (A.D.B.M.)
                                         Ltd. (hereinafter: "the Company") and as amended from time to time,
                                         shall be referred to as "the Asia Development (A.D.B.M.) Ltd. (2016) Equity Incentive
                                         Plan" (hereinafter: "the Plan").

 

		1.2	The
                                         purposes of the Plan are to reward and provide incentives to the employees, officeholders
                                         and/or Directors1, consultants and
                                         service providers of the Company and its Affiliates (if any, and as defined below), both
                                         present and/or as may join in future, including the Controlling Shareholders of the Company,
                                         for their contribution and efforts in developing the Company's business and to strengthen
                                         the sense of common interest between them and the Company.

 

		1.3	Awards
                                         granted under the Plan to service providers in various jurisdictions, may be subject
                                         to specific terms and conditions for such Awards, as may be set forth in one or more
                                         separate appendice(s) to this Plan, as approved by the Board of Directors of the Company.

 

	2.	Definitions

 

The
following terms referred to in this Plan shall have the definitions set forth below:

 

"Option"
- An option to purchase Shares awarded under the terms of the Plan, with each Option exercisable into one ordinary Share of the
Company (subject to adjustments) and subject to the terms and conditions of this Plan.

 

"3(i)
Option" - an Option the exercise of which is taxable pursuant to Section 3(i) of the Income Tax Ordinance, awarded to
any person who is a Non-Eligible Participant.

 

 

 

 

 

 

 

	1	In this Plan “Directors” - excluding
External Directors and Independent Directors as such terms are defined in the Companies Law 5759 - 1999. 

 

    

     

    

 

"Tax
Track Election" - the Company’s election in either of the two Tax Tracks applicable to Share awards to employees
through a Trustee (the Capital Gains Track or the Ordinary Income Track), to be reported to the Tax Authorities and pursuant to
which the Options shall be awarded under the Plan.

 

"Controlling
Shareholder" - as defined in Section 32(9) of the Ordinance.

 

"Board
of Directors" - the Company’s Board of Directors.

 

"The
Stock Exchange" - the Tel Aviv Stock Exchange Ltd.

 

"The
Nominee Company" - the Israel Discount Bank Nominees Ltd. or any other nominee company elected by the Company.

 

"The
Rules" - the Income Tax Rules (Tax Relief in Issuance of Shares to Employees), 5763-2003.

 

"The
Director" (ha'menahel) - a director appointed pursuant to section 229 of the Ordinance, including the Deputy Director.

 

"Non-Trustee
Award" - an award to an Eligible Participant pursuant to Section 102(c) of the Income Tax Ordinance and not held in trust
by the Trustee.

 

"Capital
Gains Track Award" - an award to an Eligible Participant through a Trustee to which the Capital Gains Track treatment
applies.

 

"Ordinary
Income Track Award" - an award through a Trustee to which the Ordinary Income Track treatment applies.

 

"Trustee
Award" - an award pursuant to Section 102(b) of the Income Tax Ordinance where the Option or the Share subject to the
Award are held in trust by a Trustee for the benefit of the Participant, including pursuant to the Ordinary Income Track and the
Capital Gains Track.

 

"Award
Agreement" - an agreement or other document defining the terms applicable to a particular Award under the Plan, including
such sections of the employment agreement between the Company and the Participant that include an undertaking to grant Options.

 

"Award"
- a grant of Options or Shares under the Plan. Each Award shall be confirmed by an Award Agreement setting forth the terms of
such Award.

 

"The
Company" - Asia Pituach (A.D.B.M.) Ltd. and any successor thereof. 

 

    	 	-2-	 

     

    

 

"Affiliate"
- the subsidiary - Four Eyes Autonomous Ltd. Company No. 515287480 and any "Employing Company" within the meaning of
Section 102(a) of the Income Tax Ordinance.

 

"The
Companies Law" - the Companies Law, 5759 - 1999 and any amendments thereto.

 

"Shares"
- Ordinary Shares of the Company, of NIS 1 par value each (subject to adjustments and/or technical changes in the Company’s
share capital).

 

"Exercise
Shares" - the Shares resulting from the exercise of Options under the Plan.

 

"Capital
Gains Track" - the tax alternative set forth in Sections 102(b)(2) and 102(b)(3) of the Income Tax Ordinance.

 

"Ordinary
Income Track" - the tax alternative set forth in Section 102(b)(1) of the Income Tax Ordinance, pursuant to which income
resulting from the sale of Shares or transfer of Shares from the Trustee to an employee is taxed as ordinary income.

 

"Participant"
- a recipient of an Award under this Plan who executes an Award Agreement.

 

"Eligible
Participant" - an employee of the Company or of an Affiliate or any individual who is serving as a Director or officeholder
of the Company, who is not a Controlling Shareholder.

 

"Trustee"
- any individual or corporation appointed by the Company’s Board of Directors to serve as a Trustee and approved by the
Tax Authorities, in accordance with the provisions of Section 102(a) of the Ordinance.

 

"Section
102" - the provisions of Section 102 of the Income Tax Ordinance, as amended from time to time, including all the Regulations,
Rules and Orders enacted or promulgated under Section 102 of the Ordinance.

 

"Income
Tax Ordinance" or "the Ordinance" - the Israeli Income Tax Ordinance [New Version] 5721 - 1961 and all
the Rules, Regulations, Orders or procedures promulgated thereunder and any amendments thereto, including specifically the Rules
(as defined above), all as may be amended from time to time.

 

"Control"
- as such term is defined in the Securities Law, 5728-1968.

 

    	 	-3-	 

     

    

 

"The
Plan" - means this Plan.

 

"Lock-Up
Period" - the period set forth in Section 102 of the Ordinance, or any other period required by the Tax Authorities in
anything relating to Trustee Awards, during which Options awarded by the Company must be held in trust by the Trustee for the
benefit of the Eligible Participant. As of the date of adoption of this Plan, the Lock-Up Period for Ordinary Income Track Awards
is 12 months from the award date of the Options and the Lock-Up Period for Capital Gains Track Awards is 24 months from the award
date of the Options.

 

	3.	Administration of the Plan

 

		3.1	The
                                         Board of Directors of the Company is responsible for the administration of the Plan and
                                         for all the required actions, including the determining of the following (a) identity
                                         of Participants in the Plan; (b) number of Options to be covered by each Award; (c) Award
                                         dates; (d) vesting terms, exercise price, exercise period (including schedules and other
                                         terms and conditions for exercising the entitlement to Options, including the setting
                                         of defined periods (such as Black Out Periods) in which notices of exercise may not be
                                         delivered), the manner of exercise and other terms applicable to a specific Award; (e)
                                         form of the Award Agreement or other documents concerning Awards; (f) restrictions and
                                         other conditions applicable to the Options or the Shares covered by the Options; (g)
                                         any other decisions required or connected to the Plan, whether or not set forth herein,
                                         and provided that the terms of the Options granted prior to such date are not adversely
                                         affected, without the consent of the Participant; and any other matters required or necessary
                                         for the arrangement of the Awards and/or for the administration, clarification, interpretation
                                         and implementation of the Plan. Subject to the provisions of the law, the interpretation
                                         of any provision of the Plan by the Board of Directors shall be final and conclusive.

 

		3.2	No
                                         member of the Board of Directors shall be liable for any act or determination made in
                                         good faith with respect to the Plan or any Award granted under the Plan.

 

    	 	-4-	 

     

    

 

		3.3	The
                                         Board of Directors of the Company may delegate the powers listed above, subject to the
                                         provisions of the Company’s Articles of Association and the provisions of any law
                                         applicable to the Company, provided that in any such case, the Board of Directors shall
                                         be entitled to exercise its powers under the Plan even if such powers were delegated
                                         in effect.

 

		3.4	The
                                         award of Options to officeholders of the Company shall be made in accordance with and
                                         subject to the officeholders’ remuneration policy determined and approved by the
                                         Company from time to time ("Remuneration Policy"), except where the
                                         competent organs of the Company determine that such awards may be made other than in
                                         accordance with the Remuneration Policy. Decisions that also require the approval of
                                         the Audit Committee and/or the Remuneration Committee under the law, shall be passed
                                         at the Audit Committee prior to the approval of such decisions by the Board of Directors,
                                         and in the necessary cases also require the approval of the general meeting of the Company's
                                         shareholders.

 

		3.5	Nothing
                                         stated in this Plan shall derogate from the powers of the Remuneration Committee of the
                                         Company under the law and/or from the provisions set forth in the Company’s remuneration
                                         plan.

 

	4. 	Eligibility for Participation in the Plan 

 

		4.1	No
                                         Awards may be granted pursuant to the Plan to members of the Board of Directors or officeholders,
                                         unless such Awards were approved in accordance with the provisions of the Companies Law.

 

		4.2	Subject
                                         to the provisions of section 4.1 above and the provisions of any law, Awards may be granted
                                         to Eligible Participants and service providers of the Company and/or of its Affiliates,
                                         whether or not such persons serve as directors or officeholders of the Company or its
                                         Affiliates.

 

		4.3	Subject
                                         to the provisions of any law, the Board of Directors of the Company shall determine the
                                         identity of those eligible to be Participants under the Plan. The eligibility for an
                                         Award, its terms and conditions and the amount of Shares or Options covered by such Award,
                                         shall be determined by the organs authorized under the law.

 

    	 	-5-	 

     

    

 

		4.4	Eligible
                                         Participants may only receive Trustee Awards or Non-Trustee Awards. Participants other
                                         than Eligible Participants may receive 3(i) Options only.

 

		4.5	The
                                         grant of an Option to a Participant hereunder shall neither entitle the optionee to participate
                                         nor disqualify the optionee from participating in any other grant of Options under the
                                         Plan or under any other Options or Shares grant plans of the Company or its Affiliates.

 

	5. 	Shares Reserved for the Plan

 

The
Board of Directors may from time to time determine the number of Options and Shares reserved for Awards hereunder and such number
may be increased or decreased from time to time. Until cancellation of the Plan, the Company shall reserve in its authorized but
unissued share capital such sufficient number of Company Shares for the purpose of granting Awards in accordance with the total
number of Shares subject to the Options awarded under the Plan, subject to adjustments as a result of changes in the share capital
of the Company, as set forth in section 11 below. Any Shares that remain authorized but unissued and are not subject to Options
at the date of termination of the Plan shall cease to be reserved for purposes of the Plan, but until termination of the Plan,
the Company shall at all times reserve a sufficient number of Shares to meet the requirements of the Plan. Should any Option granted
under the Plan expire or be canceled prior to its exercise date or the Participant relinquishes the exercise of such Option, the
Shares which were not purchased under the Option shall be available to the Plan and may be used, including for awarding same once
again to other Participants.

 

	6.	Award Agreement

 

		6.1	The
                                         Board of Directors of the Company may approve to Participants Awards under the Plan,
                                         at its discretion and subject to the provisions of the law. The terms of the Award will
                                         be set forth in the Award Agreement, in the form approved by the Board of Directors.

 

		6.2	The
                                         date of grant of each Award shall be the date specified by the Board of Directors at
                                         the time such Award is made, provided that such date is not earlier than the date of
                                         approval of the Award by the Board of Directors, and in the absence of such specification,
                                         on the date of approval of the Award by the Board of Directors and in any event, subject
                                         to the provisions of the law and to any relevant regulatory restriction as of the date
                                         of the Options Award.

 

    	 	-6-	 

     

    

 

		6.3	The
                                         Award Agreement shall state, inter alia, the number of Options or Shares being
                                         granted, the types of Options or Shares, any special terms applying to such Award (if
                                         any), all as determined by the Board of Directors. Furthermore, the Award Agreement shall
                                         indicate whether the Award is a Trustee Award, a Non-Trustee Award or a 3(i) Options
                                         Award; and if the Award is a Trustee Award - shall also indicate the applicable Tax Track,
                                         namely - Capital Gains Track or Ordinary Income Track.

 

		6.4	In
                                         addition, the Award Agreement shall include the following agreements and undertakings
                                         of the Participant: (a) agreement of the Participant to all the terms and conditions
                                         of the Plan, including, without derogating from the generality of the above, the Participant’s
                                         consent to bear any lax liabilities and other mandatory payments arising from the offering
                                         and award of the Option warrants, the exercise thereof, the transfer of the option warrants
                                         and/or Exercise Shares and/or the Shares awarded, including the consent of the Participant
                                         to authorize the Company to withhold at source (including if so required - from the amount
                                         of the Option warrants and/or Exercise Shares and/or the awarded Shares, as the case
                                         may be) any applicable tax and an undertaking to indemnify the Company if it is sued
                                         for such non-payment. If it is determined in the future by any competent authority and/or
                                         judgment that the Company must deduct tax for the Award in advance of the Options exercise
                                         date, then the Participant undertakes to transfer to the Company, immediately upon its
                                         first demand, the amount of such demanded tax liability; (b) an undertaking to comply
                                         with the statutory provisions in anything relating to the prohibition on use of the Company’s
                                         inside information; (c) an undertaking to comply with the provisions of Section 102 the
                                         of Ordinance, the Rules and the Plan; (d) the Participant’s undertaking to uphold
                                         the Options exercise and sale of Exercise Shares’ procedure, as agreed between
                                         the Company and the Trustee, the principles of which are set forth in section 8 and 9
                                         below; (e) an undertaking to release the Trustee from any liability in respect of any
                                         act or decision duly taken and bona fide executed in connection with this Plan, or the
                                         Option warrants issued to the Trustee on behalf of the Participant or the Exercise Shares
                                         vested to him by virtue thereof; (f) a letter of instructions to the Trustee as to the
                                         manner of exercise of the voting rights attached to the Shares resulting from the exercise
                                         of the Options during the Lock-Up Period.

 

    	 	-7-	 

     

    

 

	7.	Election of the Section 102 Tax Track

 

		7.1	Subject
                                         to that stated below, Awards executed in accordance with Section 102, either as Options
                                         grants, as grants of equity incentive or as Shares Awards, shall be made subject to either
                                         (a) Section 102(b)(2) of the Income Tax Ordinance - in anything relating to Capital Gains
                                         Track Awards, or (b) Section 102(b)(1) of the Income Tax Ordinance in anything relating
                                         to Ordinary Income Track Awards. The Company’s election in either of the two Tax
                                         Tracks applicable to employee share awards through a Trustee, shall be filed with the
                                         Tax Authorities. Pursuant to the provisions of Section 102, once the Company has reported
                                         such Track election, it may change the type of the elected Tax Track only after the lapse
                                         of at least 12 months from the end of the calendar year in which the first Award was
                                         made, in accordance with the original Tax Track election. For the avoidance of doubt,
                                         such election by the Company shall not prevent the Company from making Non-Trustee Awards
                                         to Eligible Participants at any time.

 

		7.2	Eligible
                                         Participant may only receive Trustee Awards or Non-Trustee Awards. Participants other
                                         than Eligible Participants may be granted 3(i) Options only. The Award Agreement or other
                                         documents evidencing the granting of the Options and/or Shares pursuant to the Plan,
                                         shall indicate whether the Award is a Trustee Award, a Non-Trustee Award or a 3(i) Options
                                         Award. If the Award is a Trustee Award, it shall also indicate whether it is a Capital
                                         Gains Track Award or an Ordinary Income Track Award.

 

		7.3	No
                                         Trustee Awards may be made pursuant to this Plan until 30 days after the date of the
                                         filings required by the Tax Authorities and all subject to the provisions of the Income
                                         Tax Ordinance.

 

    	 	-8-	 

     

    

 

	8.	Terms of 102 Trustee Awards 

 

		8.1	The
                                         date appearing on the Award notice delivered to the Participant will be deemed the Award
                                         date for any Trustee Award (hereinafter: "the Award Date"), provided
                                         that the following two conditions are met: (a) the Company provides notice to the Trustee
                                         indicating such date as the Award Date; and (b) the Participant signs the Award Agreement
                                         and all the documents required by the Company or the Trustee.

 

		8.2	An
                                         Award shall be deemed to be a Trustee Award if the Company, immediately following the
                                         execution of such Award, and in no event later than the date stipulated by the Tax Authorities,
                                         as updated from time to time: (a) notifies the Trustee of the Award and transfers to
                                         the Trustee a copy of the Award decision; and (b) deposit the Award and the Award Agreement,
                                         including the documents incident thereto with the Trustee, as required by the Tax Authorities,
                                         and the Eligible Participant signs a certification in a accordance with the provisions
                                         of Section 102, in the form required by the Trustee.

 

		8.3	Upon
                                         making the Trustee Award, the Trustee shall be allocated all the Options and/or Shares
                                         issued as a result of exercise of the Options, and shall be registered in the name of
                                         the Trustee and held in trust by the Trustee for the benefit of the Participant during
                                         and after the Lock-up Period, and the Shares resulting from such exercise shall be held
                                         by the Trustee throughout the Lock-Up Period and thereafter in such manner that the Shares
                                         are recorded in the books of the Company in the name of the Nominee Company, and held
                                         with a Member of the Stock Exchange in a deposit maintained in the name of the Trustee,
                                         with only the Trustee having signatory rights in such deposit. Upon the conclusion of
                                         the Lock-up Period, the Trustee shall be entitled to transfer the Options or the Shares
                                         (as the case may be) to the Eligible Participant (through the Nominee Company), and/or
                                         sell them (including by way of same day exercise and sale), to which the conditions set
                                         forth in section 9.10 below shall apply), fully or partially, as directed by the Participant,
                                         but only provided that: (a) the Trustee receives the Tax Authorities approval that all
                                         the tax required under the Income Tax Ordinance has been paid, or if the Trustee and/or
                                         the Company and/or an Affiliate have actually deducted the required tax under the Income
                                         Tax Ordinance; and (b) all the required actions have been completed and all the required
                                         approvals under the law in connection with such transfer and/or sale have been obtained.

 

    	 	-9-	 

     

    

 

		8.4	Each
                                         Trustee Award (whether under the Capital Gains Track or the Ordinary Income Track) shall
                                         be subject to the relevant provisions of Section 102, the Income Tax Ordinance and the
                                         assessing officer's certification, which shall be deemed an integral part of the Award
                                         terms and in case of a contradiction, shall prevail over any terms or conditions contained
                                         in the Plan or the Award Agreement. All the provisions of the Income Tax Ordinance, the
                                         Regulations and Rules thereunder as well as any approval or instruction of the Tax Authorities
                                         in accordance with the provisions of Section 102 (even where such are not explicitly
                                         provided in the Plan or the Award Agreement) - shall bind the Eligible Participants.
                                         The Trustee and any Eligible Participant who received an Award through a Trustee shall
                                         comply with the provisions of the Income Tax Ordinance and are subject to all the terms
                                         and conditions of the trust agreement between the Company and the Trustee. Furthermore,
                                         the Eligible Participant hereby agrees to sign any document required by the Company or
                                         the Trustee for the purpose of complying with the provisions of any applicable law, including
                                         Section 102.

 

		8.5	During
                                         the Lock-Up Period, the Eligible Participant shall not be entitled to require the Trustee
                                         to release, transfer or sell the Options, Shares or other shares obtained following any
                                         realization of rights derived from Shares or Options (including bonus shares), to such
                                         Eligible Participant or to any third party, unless permitted to do so under Section 102
                                         as set forth in the following paragraph, and subject to any law.

 

Notwithstanding
the foregoing, the Trustee may, pursuant to a written request and subject to the limitations of applicable law, release and transfer
such Shares to a Participant or any third party, provided that both of the following conditions have been fulfilled prior to such
release or transfer: (a) all taxes required to be paid upon the release and transfer of the Shares have paid or withheld by the
Participant, Trustee or the Company; and (b) the Trustee has received written confirmation from the Company that all requirements
for such release and transfer have been fulfilled according to the provisions of the Company’s Articles of Association,
the Plan, the provisions of any relevant agreement and any law. For the avoidance of doubt, any such sale, transfer or release
of securities during the Lock-Up Period, may result in tax consequences for breach of the Lock-Up Period as provided in Section
102. In any event, and without derogating from the provisions of section 13 below, such tax consequences arising from the transfer
to such third party shall apply to and shall be borne solely by such Eligible Participant.

 

    	 	-10-	 

     

    

 

		8.6	Without
                                         derogating from the aforesaid in section 8.4 above, during the Lock-Up Period, or prior
                                         to the payment or securing the payment of the applicable tax, as provide in Section 7
                                         of the Rules, whichever is later, the Option warrants (including the Exercise Shares
                                         derived therefrom by the Trustee) may not be transferred, assigned, pledged, attached,
                                         or otherwise voluntarily charged and no powers of attorney or other transfer deeds shall
                                         be given with respect to them, whether with immediate effect or in effect at some future
                                         date, other than by a will or under the law; If such Option warrants and/or Exercise
                                         Shares derived therefrom and/or the awarded Shares (if any) are transferred under a will
                                         or the law as aforesaid, the provisions of Section 102 of the Ordinance and the Rules
                                         shall apply to the Participant’s heirs or transferees, as the case may be.

 

		8.7	To
                                         the extent that under the provision of this Plan Shares are held by a Trustee on behalf
                                         of a Participant, if the Company declares a distribution of bonus shares and/or grant
                                         of additional rights for the Shares, the provisions of this Plan shall apply to such
                                         bonus shares and/or grant of additional rights. In addition, the Lock-Up Period for such
                                         rights shall be deemed to begin on the commencement date of the Lock-Up Period for the
                                         Award with respect to which the underlying bonus shares or additional rights were distributed.
                                         In the event of a distribution of cash dividend, for Shares held by the Trustee on behalf
                                         of an Eligible Participant, the Trustee shall transfer the dividend proceeds to the Eligible
                                         Participant after deduction of taxes and mandatory payments under the law.

 

    	 	-11-	 

     

    

 

		8.8	If
                                         an Option awarded under a Trustee Award is exercised during a Lock-Up Period, the Shares
                                         deriving from such exercise shall be issued in the name of the Trustee (and recorded
                                         in the name of the Nominee Company) and held by the Trustee for the benefit of the Eligible
                                         Participant. If such Option is exercised after the end of the Lock-Up Period, the Eligible
                                         Participant may choose whether such Shares resulting from the exercise shall be: (a)
                                         issued in the name of the Trustee; or (b) transferred directly the Eligible Participant,
                                         provided that such Participant had complied with the terms of the Plan and subject to
                                         payment of the due tax under the relevant Tax Track; or (c) sold by the Trustee for the
                                         Participant pursuant to the arrangements provided in this Plan.

 

		8.9	Subject
                                         to the decision of the Board of Directors and obtaining the Tax Authorities’ certificates,
                                         the Trustee shall be vested with all the powers under Section 102 of the Ordinance as
                                         well as any other authority agreed upon between the Company and the Trustee in the trust
                                         agreement entered into between the Company and the Trustee.

 

		8.10	The
                                         Trustee may take any actions he deems appropriate for the purpose of tax withholding,
                                         as required under the law, as consequence of exercise of the Options or sale of the Exercise
                                         Shares or transfer of the Exercise Shares to the Participant.

 

		8.11	The
                                         Company shall provide the Trustee with any information demanded by the Trustee and relevant
                                         to the Plan and the Awards made thereunder.

 

		9.	Exercise
                                         of Options

 

		9.1	Options
                                         are exercisable in accordance with the terms of their grant, subject to the terms of
                                         the Plan and as set forth in the Award Agreement, with each Option exercisable into one
                                         Share of the Company of NIS 0.1 par value (subject to adjustments).

 

    	 	-12-	 

     

    

 

		9.2	The
                                         exercise price for each Share shall the price determined by the Board of Directors at
                                         its discretion, at the time the Options are granted, and provided that the Share price
                                         is not lower than the minimum price for exercising Option warrants determined in the
                                         Stock Exchange Rules and instructions, as at the date of the adoption of the decision
                                         by the Board of Directors regarding the Award, or upon the exercise, all subject to the
                                         provisions of the Remuneration Policy concerning the Options’ exercise price.

 

		9.3	A
                                         Participant wishing to exercise an Option, or any part thereof, shall sent to the Company
                                         (with a copy to the Trustee (except in the case of a Non-Trustee Award)) a notice of
                                         exercise setting forth the number of Options the Participant wishes to exercise. The
                                         notice of exercise shall be accompanied by payment in full of the exercise price, multiplied
                                         by the amount of Options the Participant is interested in exercising, either in cash
                                         or in the manner determined by the Company from time to time.

 

		9.4	The
                                         notice of exercise may not be amended or revoked, unless with the consent of the Company.

 

		9.5	Any
                                         Option not exercised by the end of the exercise period, shall immediately expire and
                                         shall not confer the holder of the Option any rights whatsoever.

 

		9.6	If
                                         the last day for exercising the Option occurs on a non-trading day, the exercise date
                                         shall be deferred to the next trading day.

 

		9.7	A
                                         Participant wishing to exercise Options into such Exercise Shares, shall sign immediately
                                         upon the Company’s first demand and as a preliminary condition to such Options'
                                         exercise, any document the Participant is required to sign under the Plan, the Articles
                                         of Association of the Company and/or under any law, in order to enable the exercise.
                                         If the applicant has not fully complied with the conditions for exercise of the Options,
                                         and where such action cannot be remedied, then the notice of exercise shall be deemed
                                         null and void, and the notice of exercise, as well as the enclosed funds shall be returned
                                         to the applicant, within two business days after the Company’s determination that
                                         the notice of exercise is null and void.

 

    	 	-13-	 

     

    

 

		9.8	Without
                                         derogating from the generality of the aforesaid in this section 9, Options shall not
                                         be exercised on the effective date for distribution of bonus shares, offering by way
                                         of rights, distribution of a dividend, consolidation, subdivision or capital reduction
                                         (each of the above cases - "a Company Event"). In addition, if the "ex
                                         day" of a Company Event occurs prior to the effective date of the Company Event,
                                         no conversion shall be made on such "ex day". The limitations set forth in
                                         this section 9.8 shall be in effect as long as the securities of the Company are traded
                                         on the Stock Exchange.

 

		9.9	Notwithstanding
                                         the provisions of sections 9.1 and 9.3 above, and at the option of the Eligible Participant
                                         as set forth in section 9.9.1 below, to the extent not provided otherwise by the Board
                                         of Directors, in the specific Award Agreement with respect to any of the Participants,
                                         then the exercise of the Options into Shares shall be made, subject to the obtaining
                                         of a pre-ruling from the Tax Authorities, on the basis of net exercise (cashless exercise),
                                         so that the Participant shall not be required to actually pay the exercise price, save
                                         for the amount of the nominal value (as defined below) and the amount of Shares actually
                                         issued to the Participant shall be calculated by taking the difference between:

 

(a)
the closing rate of the Company's Shares at the Stock Exchange on the trading day preceding the exercise date, multiplied by the
number of Shares covered by the Options with respect to which the notice of exercise was given; and (b) the exercise price, multiplied
by the number of Options with respect to which the notice of exercise was given.

 

Such
difference (if positive) shall constitute the deriving benefit amount for the Participant on the exercise date ("Benefit
Amount").

 

The
number of Shares to which the Participant shall be entitled based on the net exercise will be computed through the following formula:

 

	 	X = 	Y(A-B)	 
	 	A	 

 

    	 	-14-	 

     

    

 

Where:

 

X
- the number of Shares to which the Participant is entitled as a result of the exercise of the Options.

 

Y
- Number of exercisable Options, which Participant wishes to exercise.

 

A
- The closing rate of the Company’s Share of NIS 0.01 par value each (subject to changes in the nominal value in the event
of stock split or reverse stock split) on the day preceding the exercise date.

 

B
- Exercise price of each option (subject to adjustments).

 

This
on the assumption that the nominal value of the Company's Share on the exercise date remains NIS 0.1 (if not, the denominator
of the fraction will be accordingly adjusted).

 

		9.9.1	It
                                         is clarified that the Eligible Participant may choose to use the Cashless Exercise mechanism
                                         as aforesaid, as notified by him in writing to the Company, specifying that the Eligible
                                         Participant may choose between the Cashless Exercise mechanism and the ordinary exercise
                                         mechanism of the Options upon exercise thereof.

 

		9.9.2	Immediately
                                         after the first trading date following receipt of the notice of exercise, the Company
                                         shall notify the Participant about the partial number of Exercise Shares (as defined
                                         below) that the Participant shall be entitled to receive and the total nominal amount
                                         the Participant is required to pay for such Awards. On the first trading date following
                                         such notice, and subject to the payment of the nominal value amount by the Participant,
                                         the Company shall issue to the Participant (or to the Trustee in his favor, as applicable)
                                         such amount of Shares the market value of which, in accordance with the closing rate
                                         of the Company’s Shares at the Stock Exchange on the day preceding the notice of
                                         exercise, is equal to the Benefit Amount, with such amount of Shares added by an additional
                                         amount of Shares for the nominal value paid by the Participant for any Share issued to
                                         him, or issued in his favor, for the exercise of the Options under this section (in this
                                         section - the amount of Shares resulting from the aforesaid shall be referred to as:
                                         "the Partial Number of Exercise Shares" and the amount of the nominal
                                         value with respect to the Partial Number of Exercise Shares shall be referred to as—"the
                                         Nominal Value Amount"). In any event, the Company shall not issue share fractions
                                         and any fractional share deriving from the above calculation or resulting from the provisions
                                         of this section, shall be rounded (upwards or downwards, as the case may be) to the nearest
                                         whole share.

 

    	 	-15-	 

     

    

 

		9.10	The
                                         Exercise Shares shall not be issued prior to the delivery to the Company of the exercise
                                         price and/or the nominal value of the Shares, as the case may be, and delivery of all
                                         the documents, certifications and payments required from the Participant as condition
                                         for the exercise of the Option warrants. The Company shall issue the Exercise Shares
                                         for the Option warrants converted by the Participant, to the Nominee Company, for the
                                         Trustee, that shall hold same for the Participant, and the Trustee shall act with respect
                                         to the Exercise Shares in accordance with the provisions of the trust deed to be executed
                                         with him and the provisions of Section 102 of the Ordinance.

 

		9.11	Notwithstanding
                                         the aforesaid in section 9.10 above, an Eligible Participant who wishes to exercise all
                                         or part of the Options and sell the Shares deriving from the exercise, shall do so by
                                         applying in writing to the Trustee (in case of a Trustee Award), in the form determined
                                         the Company and/or by the Trustee, that will include, among others, the number of Options
                                         that the offeree is interested in exercising. The Trustee shall withhold from such sale
                                         proceeds: (a) the exercise price, or alternatively, the nominal value amount in case
                                         of net exercise under section 9.8 above and transfer such amount to the Company; and
                                         (b) the tax amount required under the Income Tax Ordinance and other mandatory payments
                                         (including payments applicable to the Company, if any). The balance remaining following
                                         execution of the aforesaid deductions shall be transferred to the Eligible Participant,
                                         provided that all the required actions are completed and all the necessary approvals
                                         under the law in connection with the transfer and/or sale as aforesaid are obtained.
                                         For the avoidance of doubt, it is hereby clarified that the Eligible Participant may
                                         not apply to the Trustee and request to exercise all or part of the Options, and to sell
                                         the Shares deriving from the exercise, as aforesaid, to the extent that the consideration
                                         expected to be received from the sale is lower than the amounts set forth in subsections
                                         (a) and (b) above, and in such case, the provisions of this section 9.11 shall not apply.

 

    	 	-16-	 

     

    

 

		9.12	The
                                         Company shall act to issue the Shares immediately following the exercise of the Options
                                         and shall also act to list them for trade in the Stock Exchange, according and subject
                                         to the provisions of the Stock Exchange rules and directives. In accordance with the
                                         Stock Exchange directives, the Company shall register the Exercise Shares deriving from
                                         exercise of the Option warrants under this Plan in the name of the Nominee Company.

 

		9.13	Until
                                         the Exercise Shares are duly issued, the Participant shall not be entitled to any voting
                                         rights or to receive dividends or any other rights as a shareholder with respect to such
                                         Shares.

 

		9.14	Subject
                                         to that stated in section 9.15 below in the matter of a proxy for voting in the Exercise
                                         Shares, following the exercise of the Options into the Exercise Shares and until registration
                                         of the rights to the Exercise Shares in the name of the Participant in the Company’s
                                         register of shareholders, the Participant shall have none of the rights attached to the
                                         Exercise Shares.

 

		9.15	So
                                         long as the Exercise Shares are held by the Trustee, the Trustee shall be deemed for
                                         all intents and purposes vis-à-vis the Company and any other third parties
                                         as holder of the Exercise Shares, including, without derogating from the generality of
                                         the aforesaid, for receiving notices from the Company. Notwithstanding the above, the
                                         Trustee shall not have, personally, any voting rights attached to the Exercise Shares,
                                         but the Trustee may, subject to obtaining the appropriate written request from a Participant,
                                         grant such Participant a proxy to vote at the general meeting of the Company for the
                                         Exercise Shares to which such Participant is entitled and held by the Trustee.

 

    	 	-17-	 

     

    

 

		9.16	Subject
                                         to the provisions of any law and/or agreement, the Company shall have a pre-emptive right
                                         to purchase from a Participant to whom Options were awarded under this Plan any Share
                                         resulting from the exercise of such Options, in case of sale of the Exercise Shares by
                                         the Participant other than in the framework of trading at the Stock Exchange. Such pre-emptive
                                         right shall apply for a period of 7 business days starting from the day on which the
                                         Participant delivers a notice to the Company and/or the Trustee, as the case may be,
                                         concerning the intention of the Participant to transfer and/or sell the Exercise Shares
                                         held by him to a third party, the identity of the third party and the terms of sale (in
                                         this section 9.16: "the Participant’s Notice"). If the Company
                                         elects to exercise such pre-emptive right, it shall exercise such pre-emptive right under
                                         the same conditions stipulated in the Participant’s Notice. In the event that the
                                         Company does not reply the Participant within 7 business days after the delivery of the
                                         Participant’s Notice, the Participant shall be entitled to sell the Exercise Shares
                                         to the third party under the conditions set forth in the Participant’s Notice and
                                         subject to compliance with all his undertakings under this Plan and/or the Award Agreement.

 

		10.	Termination
                                         of Employment/Engagement as Service Provider (Options Expiry/Cancellation)

 

		10.1	Effect
                                         of Termination; Exercise after Termination. Unless otherwise provided in the Award
                                         Agreement, in case of termination of the employment relationship between the Participant
                                         and the Company, the service of an officeholder ceases, or the Participant ceases to
                                         provide services to the Company, such Participant may exercise all the Options vested
                                         prior to the date of termination of employment relationship which were not exercised
                                         by him, for the period set forth in this section (but in no event later than the end
                                         of the exercise period of the vested Options, as set forth in the Award Agreement or
                                         the Plan). Any Options that remain unvested on the date of termination of employment
                                         relationship, or on the expiration date of the engagement
                                         between the Participant and the Company, as the case may be, shall terminate and may
                                         not be exercised. In the event of termination of employer - employee relationship for
                                         any reason prior to the vesting date of any portion, such entitlement shall not vest.
                                         If, after the termination date of the employment relationship, cessation of service of
                                         an officeholder, or the termination of engagement, the Participant chooses not to exercise
                                         the vested Options within the time specified below, all the Options shall expire and
                                         confer no rights whatsoever.

 

    	 	-18-	 

     

    

 

In
the absence of any other provision in the relevant Award Agreement:

 

		(a)	In
                                         any case of termination of the employment relationship between the Participant and the
                                         Company or an Affiliate or in case the Participant ceases to provide services for any
                                         reason whatsoever (save for the events set forth in subsections (b) and (c) below, to
                                         which the provisions of these subsections shall apply), Options vested prior to the termination
                                         date of the employment relationship, may be exercised within six months following the
                                         termination date of the employment relationship, or prior to the expiration of the Option
                                         period, whichever is earlier. Options which remain unvested until the termination date
                                         of the employment relationship shall expire and be canceled;

 

		(b)	In
                                         the event of termination of the employment relationship between the Participant and the
                                         Company "for cause" - the Options may not be exercised, whether vested or not,
                                         and the Options shall expire on the termination date of the employment relationship.
                                         In this Plan, termination of employment relationship "for cause" means,
                                         each of the following: (i) commission of an offense (by act or omission) causing damage
                                         to the Company or involving moral turpitude; (ii) breach of the duty of loyalty and the
                                         duty of care towards the Company by a Participant who serves as an officeholder; (iii)
                                         breach of any confidentiality or non-competition duty towards the Company, or any other
                                         material obligation towards the Company; and (iv) termination of employment due to the
                                         conviction of the Participant for commission of any act of felony, fraud, moral felonies
                                         and such other similar felonies equivalent in terms of severity and/or conviction of
                                         any other criminal offense involving moral turpitude.

 

    	 	-19-	 

     

    

 

		(c)	In
                                         any case of termination of the employment relationship between the Participant and the
                                         Company due to disability or death, any Options that have vested until the termination
                                         date of the employment relationship may be exercised: within twelve (12) months following
                                         the termination date of the employment relationship, or the expiry of the Option period,
                                         whichever is earlier.

 

It
is hereby clarified, for the avoidance of doubt, that after the termination date of the employment relationship, including during
the 6 months period as stated in subsection (a) above, or during the 12 months period as stated in subsection (c) above, the entitlement
to the vesting of the Options shall no longer continue.

 

		10.2	Termination
                                         Date of Employment Relationship. Unless otherwise provided in the relevant Award
                                         Agreement "termination date of the employment relationship" (for any
                                         reason) for the purposes of the Plan is the date on which the Participant is no longer
                                         on the payroll of the Company, including the prior notice period.

 

		10.3	Unpaid
                                         Leave of Absence. Unless the Board of Directors directs otherwise and subject to
                                         any applicable law, the vesting of Awards granted under this Plan shall be suspended
                                         at any time during the course of any type of unpaid leave of absence.

 

		10.4	Application
                                         to a Non-Employee Service Provider. The provisions of this section 10 shall apply,
                                         mutatis mutandis, on Non-Employee Participants, who are service providers (consultants,
                                         contractors, Non-Employee officeholders, etc.) whose engagement with the Company ceases,
                                         and in such case, whenever a termination date of employment relationship is referred
                                         to in this section 10, it shall be interpreted as referring to the date on which the
                                         notice of cessation of engagement is delivered or the date of actual cessation of engagement
                                         with a service provider, whichever is earlier.

 

    	 	-20-	 

     

    

 

		10.5	Change
                                         of Status. None of the following events shall be deemed to be a termination of employment
                                         relationship or cessation of an engagement between the Participant and the Company or
                                         an Affiliate: (a) any absence approved by the Company; (b) transfer from employment by
                                         the Company to the employment of any Affiliate (and vice versa); (c) a transfer
                                         from employment by an Affiliate to employment by another Affiliate; and (d) change of
                                         status (an employee’s change of status into that of a director, an employee’s
                                         change of status into that of a service provider, etc.), provided that such change of
                                         status does not affect the special conditions of the Award referring to such service
                                         provider or employee.

 

		10.6	Neither
                                         the provisions of this Plan nor any of the provisions of the Award Agreement with the
                                         Participant shall be construed as agreement for, or as imposing any obligation on the
                                         Company and/or an Affiliate to continue the employment of the Participant or to continue
                                         the engagement with the Participant as a service provider, and neither the provisions
                                         of this Plan nor any of the provisions of such Agreement shall be construed as conferring
                                         upon any Participant any rights to continue the employment with the Company and/or any
                                         of its Affiliates or to continue providing services to the Company and/or any of its
                                         Affiliates, or as interfering in any way with the rights of the Company and/or its Affiliates
                                         at any time to terminate any of the Participants’ employment or engagement.

 

		10.7	Expiration
                                         Due to Delisting. In the event that the Shares of the Company are delisted for any
                                         reason, the Participant shall be entitled to exercise with the 90 days period following
                                         the delisting date all the Options vested until the end of such 90 day period. After
                                         such date, all the Options, whether vested or not by such date shall expire. During such
                                         90 days period, the closing rate for the Company’s Share, for the purpose of computing
                                         the Cashless Exercise mechanism described in section 9.8 above, shall be calculated as
                                         the last known close of trading rate of the Company's share at the Stock Exchange prior
                                         to such delisting.

 

    	 	-21-	 

     

    

 

	11.	Adjustments

 

Upon
the occurrence of any of the following described events during the period commencing on the date of the Options’ Award to
the Participant under this Plan and the date of exercise thereof, the Participant’s rights shall be adjusted as hereinafter
provided:

 

		11.1	Technical
                                         Changes in the Company’s Share Capital. If the amount of Shares in the Company
                                         changes as a result of a stock split, reverse stock split, etc., the number of Shares
                                         deriving from any exercise of an Option shall be proportionately adjusted (without change
                                         of the exercise price). The manner in which adjustments are made in such cases shall
                                         be determined by the Board of Directors and its determinations shall be final and conclusive.
                                         Unless explicitly provided otherwise, issue of Shares of any class shall not result in
                                         an adjustment of the exercise price or the number of Shares deriving from the exercise.

 

		11.2	Dividends.
                                         In the event that the Company makes a distribution of a dividend in cash, or in kind,
                                         to all its shareholders (including a distribution approved by the court in accordance
                                         with Section 303 of the Companies Law, or any other applicable provisions) and the effective
                                         date for the entitlement to receive such dividend (hereinafter: "the Effective
                                         Date") occurs after the Award date but prior to the exercise date, then the
                                         exercise price for any unexercised Option into a Share of the Company prior to the Effective
                                         Date, shall be reduced by the amount of the distributed dividend per share (gross) (or
                                         the value of the dividend in case of a dividend in kind), but in any event, the exercise
                                         price shall not be lower than the nominal value of Company's Share. Beyond such adjustments
                                         of the exercise price set forth in this section, a distribution of a dividend by the
                                         Company (in cash and/or in kind) shall not affect in any manner the number of Exercise
                                         Shares and shall not require the Company to make any adjustments in connection with the
                                         Options and/or Exercise Shares. Such adjustment shall be subject to Stock Exchange rules
                                         and directives, as amended from time to time.

 

    	 	-22-	 

     

    

 

		11.3	Bonus
                                         Shares. In the event of distribution of bonus shares, the number of Options awarded
                                         but unexercised shall be adjusted, so that the number of Shares to which the Option holder
                                         is entitled as a result of the exercise of the Options, shall either increase or decrease
                                         in proportion to the number of Shares of that class that the Participant would have been
                                         entitled to as bonus shares had he exercised the Options held by him. It is clarified
                                         that so long as the Company's securities are traded on the Tel Aviv Stock Exchange such
                                         manner of adjustment may not be altered.

 

		11.4	Issuance
                                         by way of Rights. In the event that, prior to the exercise of the Options, the Company
                                         offers securities by way of rights to its ordinary shareholders, then, with regard to
                                         the Options which are then unexercised prior to the Effective Date for issuance of the
                                         rights, there shall be no adjustment in the exercise price of the Options, but the number
                                         of Shares resulting from the exercise of each Option, which are then unexercised on the
                                         Effective Date for determining the entitlement to participate in the award of rights
                                         will be adjusted so that the number of Shares resulting from the exercise of such Options
                                         shall be adjusted to the bonus component of such rights, as reflected in the ratio between
                                         the per share rate on the Stock Exchange on the last trading day prior to the "ex
                                         day", and the underlying price of the Shares prior to the award of rights (the above
                                         calculation will be as set forth in the Stock Exchange directives, as amended from time
                                         to time). Such adjustment shall be subject to the Stock Exchange rules and directives,
                                         as amended from time to time.

 

		11.5	Mergers
                                         and acquisitions. In the event of a merger or consolidation of the Company with or
                                         into another corporation, resulting in such other corporation being the surviving entity,
                                         or that the Company is the surviving corporation and as a result of such merger at least
                                         50% of the existing voting rights in the Company are modified; or in the event of a purchase
                                         by a third party of all or substantially all the assets of the Company (hereinafter:
                                         "the Transaction"), all the Options shall be adopted or expire and be
                                         automatically exchanged by substituting awards of the surviving corporation.

 

    	 	-23-	 

     

    

 

In
such case, the amount of the aforesaid substituting Options shall be determined by the mechanism provided in the merger Transaction
for exchange of the Company's shares by shares of the surviving corporation. Alternatively, the Board of Directors of the Company
may determine, at its exclusive discretion, an alternative consideration for the Options, close as possible to the exchange mechanism
applicable to the Company shareholders and in such a manner not adversely affecting the economic value of the Options held by
the Participant immediately prior to the merger event. The remainder of the provisions in this Plan, including with reference
to the vesting and exercise of the Options, shall apply to the substituting options, or their proceeds, mutatis mutandis.

 

In
the event that the surviving corporation does not agree to adopt or exchange the Options, the Board of Directors of the Company
may determine, at its sole discretion, the treatment of the unexercised and/or unvested Awards, or Awards which are still subject
to restrictions on the Transaction date, which may include one or more than one of the following alternatives: (a) acceleration
of the vesting dates of all or part of the Awards to a date occurring at least two days prior to Transaction closing, provided
however, that any exercise and/or vesting of Awards which may not be exercised in the absence of an actual Transaction shall be
conditioned on the actual consummation of the Transaction, unless determined otherwise by the Board of Directors; (b) that all,
some, or specific categories of Awards shall be annulled and expire on the actual closing of the Transaction, and that in exchange
the Award holders shall receive the value of the annulled Awards (if any) in cash, shares, securities or other assets, or any
combination thereof, under such terms as determined by the Board of Directors at its exclusive discretion (which may be based
on the per share price so received or expected to be received by the other shareholders of the Company in such case); and/or (c)
that all, some, or specific categories of unvested Awards and/or which are still subject to restrictions shall be annulled and
expire on the actual closing of the Transaction, with no consideration to the holders thereof.

 

In
the event that a Transaction takes place and the Board of Directors determined in good faith that certain Shares have no monetary
value and therefore confer the holders thereof no consideration in the framework of such Transaction, the Board of Directors may
determine that relevant Options shall expire on the Transaction date.

 

    	 	-24-	 

     

    

 

		11.6	The
                                         Authority of the Board of Directors to make Adjustments. The authority of the Board
                                         of Directors to interpret, make determinations and decisions on adjustments shall be
                                         interpreted as widely as possible, to allow the Board of Directors maximal power and
                                         flexibility to interpret and implement the provisions of this Plan in the event of Transactions
                                         of the Company or its shareholders, this, also without the Participant’s express
                                         written consent, so that the granting of Options under this Plan shall in no manner cause
                                         an impediment against the execution of a Transaction, so as to allow the Company’s
                                         Board of Directors implement the granting and exercise of the Options in case of modifications
                                         in the Stock Exchange rules and/or under any law. The Board of Directors shall act in
                                         good faith in order to protect the rights of the Participant and prevent an unfair adverse
                                         effect as result of such decisions.

 

		11.7	Canceled

 

		11.8	Fractional
                                         Shares. For the avoidance of doubt, in the event of modification as described in
                                         this section 11 above, the Participant shall not be entitled to exercise an Option into
                                         a fraction of a Share and the number of Shares to which the Participant would become
                                         entitled to upon the exercise of the Option under the Plan shall be rounded (upwards
                                         or downwards, as the case mat be) to the nearest whole number.

 

	12.	Vesting Dates

 

		12.1	Subject
                                         to the provisions pertaining to the Lock-Up Period and the other terms and conditions
                                         of the Plan, except as otherwise determined by the Board of Directors with regard to
                                         a specific Participant, as provided in the relevant Award Agreement, each Option may
                                         be exercised, in accordance with the vesting dates, as set forth in section 12.2 below.

 

    	 	-25-	 

     

    

 

		12.2	The
                                         entitlement to the Options shall vest in accordance with the following vesting periods,
                                         unless the Award Agreement provides for a different vesting, and in such case, the provisions
                                         of the Award Agreement shall prevail:

 

		12.2.1	The
                                         first portion of Options, constituting one third (1/3) of the amount of Option warrants
                                         awarded to a Participant, may be exercised starting from the expiry of 12 months from
                                         the date of the actual award;

 

		12.2.2	The
                                         second portion of Options, constituting one third (1/3) of the amount of the Option warrants
                                         awarded to a Participant, shall vest on a quarterly basis, starting from the expiry of
                                         12 months from the date of actual award, in four equal portions, so that by the end of
                                         each quarter an amount of 1/12 of the Option warrants awarded to the Participant vests
                                         and any such amount may be exercised starting from its vesting date;

 

		12.2.3	The
                                         third portion of Options, constituting one third (1/3) of the amount of the Option warrants
                                         awarded to a Participant, shall vest on a quarterly basis, starting from the expiry of
                                         24 months from the date of actual award, in four equal portions, so that by the end of
                                         each quarter an amount of 1/12 of the Option warrants awarded to the Participant vests
                                         and any such amount may be exercised starting from its vesting date.

 

		12.3	Acceleration
                                         of the Vesting Period

 

		12.3.1	In
                                         case of termination of the employee-employer relationship between the Participant and
                                         the Company, as a result or incidentally with: (i) a change of Control in the Company,
                                         or (ii) a merger transaction of the Company resulting in a change of Control in the Company,
                                         or (iii) execution of a re-organization as defined by the Board of Directors of the Company
                                         as an event accelerating the vesting period, then, the vesting period of the nearest
                                         portion of the Options entitling such offeree shall be accelerated and he may exercise
                                         the option in accordance with the provisions of section 10 above. Thus, for example,
                                         a Participant terminating his employment with the Company for the reasons set forth above
                                         during the second year following the Award, then the second portion of the qualifying
                                         Options shall be accelerated and the third portion of such Participant shall expire.

 

    	 	-26-	 

     

    

 

		12.3.2	The
                                         Remuneration Committee and the Board of Directors may at any time, at its exclusive discretion,
                                         determine such further provisions concerning the acceleration of the vesting dates with
                                         respect to grants or part thereof, or concerning the removal of restrictions on exercise,
                                         all subject to any law.

 

		12.4	The
                                         Options may not be exercisable after the Expiration Date, as such term is defined in
                                         section 13.1 below.

 

	13.	Exercise Period

 

		13.1	Except
                                         as determined otherwise by the Board of Directors, the Participant may exercise any vested
                                         portion of the Options into the Shares of the Company, starting from the vesting date
                                         of each such portion and until the expiry of four (4) years following the vesting date
                                         of such portion as aforesaid (hereinafter, concerning vested Options: "Exercise
                                         Period" and "Expiry Date", respectively), except where such
                                         Options or part thereof expired prior to the end of the Exercise Period all in accordance
                                         with provisions of section 10 above. All Options granted to the Participant and unexercised
                                         by the Participant into the Shares of the Company prior to the end of the Exercise Period,
                                         shall expire and may not be exercised in accordance with this Plan and all the Participant’s
                                         rights with respect to such Options shall be canceled.

 

		13.2	The
                                         Options may be fully or partially exercised by the Participant at any time, from time
                                         to time, to the extent that the vesting date of the Option has occurred and the vesting
                                         conditions provided in the agreement pursuant to which the Options were awarded are met
                                         and prior to the expiry of the Exercise Period, as set forth above. Unless provided otherwise
                                         in the agreement pursuant to which the Options were granted, the condition for the vesting
                                         of each portion of the Options is that the vesting date precedes the termination date
                                         of the employment relationship (or the engagement), as defined in section 10.2 above.

 

    	 	-27-	 

     

    

 

	14.	Non-Transferability

 

		14.1	So
                                         long as the Options and/or Exercise Shares are held by the Trustee on behalf of the Eligible
                                         Participant, the rights of the Eligible Participant with respect thereto are personal
                                         and cannot be transferred, assigned, charged, pledged and/or grant any rights thereto
                                         to any third party, other than by will or under any law. Any such act, either directly
                                         or indirectly, whether with immediate or future effect shall be void.

 

		14.2	Shares
                                         not paid in full, may not be assigned, transferred, charged or pledged, other than by
                                         will or under any law. For avoidance of doubt, the foregoing shall not be deemed to restrict
                                         the transferability of the Participant's rights in respect of Options or Shares purchasable
                                         pursuant to the exercise thereof upon the death of such Participant to such Participant's
                                         estate or other successors by operation of law or will, whose rights therein shall be
                                         governed by Section 10.1 above, or as may be determined by the Board of Directors.

 

	15.	Term of the Plan

 

		15.1	This
                                         Plan shall be in effect for a term of ten (10) years from the date of its adoption by
                                         the Board of Directors of the Company, unless the Board of Directors decides to cancel
                                         the Plan earlier. For the avoidance of doubt, it is clarified that Options under this
                                         Plan may not be granted in the period following 10 years from the date of its adoption
                                         by the Company’s Board of Directors, however, the provisions of this Plan shall
                                         continue to apply to the Options granted under this Plan (despite the expiry of such
                                         10 years period after the date of its adoption), until the expiry date of the Options
                                         in accordance with the Award Agreement.

 

    	 	-28-	 

     

    

 

		15.2	Notwithstanding
                                         any other provision of the Plan, the Board of Directors may, at any time, amend, suspend
                                         or cancel, in retrospect, or otherwise, any or all of the provisions of the Plan (including
                                         any amendment deemed necessary to ensure that the Company may comply with any provisions
                                         of the law); provided, however, that, except for correction of typographical errors,
                                         corrections arising from the requirements of any law or as otherwise specifically provided
                                         herein, the rights of the Participant with respect to vested Awards granted to him prior
                                         to such amendment, suspension or cancellation, may not be impaired, without the consent
                                         of such Participant. The Board of Directors may amend the terms of any Award granted
                                         to the Participant, prospectively or retroactively, provided that, but for correction
                                         of typographical errors, corrections arising from the requirements of the law, applicable
                                         accounting rules, or as specifically provided herein, the rights of any Participant with
                                         respect to Awards granted to him prior to such amendment shall not be impaired without
                                         the Participant's consent.

 

		15.3	Notwithstanding
                                         that stated in the Plan, the Board of Directors may do the following acts: (a) increase
                                         the number of Shares issuable under the Plan; (b) extend the validity of the Plan; (c)
                                         substantially broaden the group of eligible Participants in the Plan; (d) expand the
                                         type of Options and/or benefits granted under the plan.

 

	16.	Tax Consequences

 

		16.1	The
                                         Participant shall solely bear all the tax consequences arising from the award of Options
                                         and/or Shares under this Plan, from exercise of any Option, from the sale or transfer
                                         of Shares, or from any other event or act (of the Company, and/or an Affiliate, and/or
                                         the Trustee and/or the Participant), connected to the Awards of Options or the Shares
                                         awarded under this Plan. The Company and/or its Affiliates and/or the Trustee shall withhold
                                         taxes according to the requirements under the Income Tax Ordinance and under any applicable
                                         law, rules and regulations. The Participant agrees to indemnify the Company and/or its
                                         Affiliates and/or the Trustee and hold them harmless against and from any and all liability
                                         for any such tax or interest or penalty thereon, including without limitation, all expenses
                                         and payments relating to the obligation to withhold, or to have withheld, any such tax
                                         from any payment made to the Participant or any act in connection with the Award, exercise,
                                         sale or transfer of Shares and/or Options.

 

    	 	-29-	 

     

    

 

		16.2	The
                                         Company or any of its Affiliates and the Trustee may make such provisions and take such
                                         steps as they may deem necessary or appropriate for the withholding of the taxes required
                                         by any law to be withheld with respect to Awards granted under the Plan and the exercise,
                                         sale, transfer of any Award and/or Option and/or Share, including, without derogating
                                         from the generality of the foregoing to: (a) deducting the amount so required to be withheld
                                         from any other amount then or thereafter to be paid to the Participant, including by
                                         deducting any such required amount from a Participant's salary or other amounts payable
                                         to the Participant, to the maximum extent permitted under law; and/or (b) requiring the
                                         Participant to pay to the Company or any of its Affiliates the amount so required to
                                         be withheld as a condition of the Award, delivery, and/or release of any Shares; and/or
                                         (c) by causing the exercise of the Options and/or sale of any Shares held by or on behalf
                                         of the Participant to cover such liability. In addition, the Participant will be required
                                         to pay any amount due in excess of the tax withheld and transferred to the Tax Authorities,
                                         pursuant to any law.

 

		16.3	With
                                         regard to Non-Trustee Awards, in the event an Eligible Participant shall cease to be
                                         employed by or serve as officeholder of the Company or any Affiliate, the Eligible Participant
                                         shall be obligated to provide the Company and/or its Affiliate with a security or guarantee,
                                         satisfactory to the Company, to cover any tax obligation resulting from the sale of the
                                         Shares, all in accordance with the provisions of Section 102 of the Income Tax Ordinance
                                         and the Rules.

 

		16.4	The
                                         foregoing discussion does not purport to be an authoritative interpretation of the provisions
                                         of the law referred to above, or an exhaustive description of all the provisions of the
                                         law pertaining to taxes which may apply in connection with the Options offered to the
                                         Participants and does not replace the need for legal and professional consultation in
                                         this matter. Each Participant is advised to consult with a tax advisor with respect to
                                         the tax consequences of receiving and/or exercising any Award under this Plan.

 

    	 	-30-	 

     

    

 

	17. 	Compliance with Law

 

Shares
shall not be issued pursuant to the exercise of Options or with respect to any other Award, unless the exercise of such Option
or grant of such Award and the issuance of such Shares shall comply with any applicable laws, including the Securities laws and
the Stock Exchange directives.

 

	18.	General Provisions

 

		18.1	The
                                         adoption of the Plan by the Board of Directors shall not be construed as creating any
                                         limitations on the power of the Board of Directors to adopt such other incentive arrangements,
                                         as it may deem desirable, including, the granting of additional options and/or shares
                                         and/or securities other than under the Plan, and such arrangements may be either applicable
                                         generally or only in specific cases.

 

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

 

		18.3	No
                                         income or profit credited (or purported to be credited) to the Participant for the Options
                                         or Shares under this Plan, shall be deemed part of the salary of the Participant for
                                         all intents and purposes (except for tax withholding purposes and other mandatory withholdings)
                                         and shall not be taken into account upon calculation of the basis for the Participant’s
                                         entitlement vis-à-vis the Company to any social benefits whatsoever (including
                                         severance payment, social contributions, pension, etc.) or any other rights or benefits
                                         arising from employer - employee relationship.

 

	19.	Applicable Law and Jurisdiction

 

The
laws of the State of Israel shall apply to this Plan and to all the documents issued or be issued under the Plan or in connection
thereto.

 

 

 

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

 

 

 -31-Exhibit 4.7

 

SPECIAL
PERSONAL EMPLOYMENT AGREEMENT

 

and
Notification of Employment Conditions Pursuant to the Notice to the Employee and 

Job Candidate Law (Employment Conditions and
Candidate Screening and Selection Procedures), 5762-2002 

 

Made
and Entered into on the 5th Day of January, 2016.

 

	Between:	ASIA
        PITUACH (A.D.B.M.) LTD., Public Company No.: 520036062

        of
        7 Jabotinsky Street, Ramat Gan, Israel

        (hereinafter:
        the "Company" or the "Employer")

        On
        the One Part;

	And	Mr.
        Haim Siboni, Identity Card No.: 069964997

        of
        23 Ben Gurion Avenue, Lod, Israel

        (hereinafter:
the "Employee")

        On
        the Second Part;

 

	Whereas	The
                                         Company is a public company, mainly engaged in the field of car safety through devices
                                         installed within the car for the purpose of preventing car accidents (hereinafter: the
                                         "Company’s Activities"); and

 

	Whereas	The
                                         Company is interested in employing the Employee in the position of its chief executive
                                         officer (hereinafter: "CEO"); and

 

	Whereas	The
                                         Employee desires to be employed by the Company is such position; and

 

	Whereas	The
                                         parties wish to establish the terms and conditions of their engagement in this personal
                                         employment agreement which shall exclusively regulate the Employee’s terms of employment
                                         by the Company.

 

Therefore,
it has been agreed, stipulated and declared by and between the parties as follows:

 

		1.	General

 

		1.1	The
                                         preamble to this Special Person Employment Agreement (hereinafter: the "Agreement")
                                         and its annexes form an integral part hereof.

 

		1.2	The
                                         section headings appearing in this Agreement are for ease of reading only and shall not
                                         be used for interpretation hereof.

 

    

     

    

 

		2.	The
                                         Exclusivity of the Agreement

 

		2.1	The
                                         Employee is employed under a personal agreement and therefore, only the provisions of
                                         this Agreement shall apply to the employment relations between the Employee and the Company,
                                         to the exclusion of any other agreements whatsoever. Without derogating from the generality
                                         of the aforesaid, it is hereby agreed and declared, that during the term of this Agreement,
                                         the provisions of any collective bargaining agreements and/or arrangements and/or any
                                         other agreements shall not apply to the parties’ relations.

 

	3.	Employee’s Role and Scope of Position 

 

		3.1	The
                                         Employee will be employed in the position of CEO at a scope which is not lower than 80%
                                         of a (an ordinary) position, namely, at least 148 monthly working hours, on an annual
                                         average basis.

 

		3.2	The
                                         Employee will be subordinated and shall report directly to the Company’s board
                                         of directors, or any other organ determined by the board of directors.

 

		3.3	The
                                         Employee shall perform his work in Ramat Gan, at the Company’s registered offices,
                                         or in any other location in Israel or abroad in which he will be required, in accordance
                                         with the Company’s needs.

 

	3.4	The Employee undertakes to discharge his duties loyally and devotedly
to the best of his qualifications and skills to promote the objectives of the Company while keeping the Company’s secrets
in confidence, during and following the employment term.

 

	3.5	As part of his position scope, the Employee shall be responsible for
all acts and tasks entailed by the position of CEO, as defined from time to time by the Company, including, without limitation,
the following acts: (1) management of the Company’s manpower and assets; (2) marketing the Company’s activities; (3)
undertaking acts intended to raise capital for financing the Company’s activities and developing its products. The Company’s
board of directors may change the Employee's job title and duties or the type and scope of the tasks assigned to the Employee
from time to time, at its discretion.

 

    	 	2	 

     

    

 

	4.	Employee’s Employment Term and Termination of the Agreement

 

	4.1	This Agreement will become effective and the Employee will be employed
by the Company, from the closing date of the Transaction, as such term is defined in the merger agreement dated October 11, 2015
entered by and between the Company, Magna - BSP Ltd. and 4Eyes Autonomous Ltd. (hereinafter: the "Employment Commencement
Date"). The Agreement is entered for a term of three (3) years, starting from the Employment Commencement Date (hereinafter:
the "Initial Employment Term"), unless revoked, and the Employee’s employment terminated earlier by either
parties hereto, in accordance with the provisions of sections 4.3, 4.5 or 4.6 below.

 

	4.2	At the end of the Initial Employment Term, this Agreement will be automatically
extended for additional three (3) years term each time, subject to receipt of all the necessary approvals under any law.

 

	4.3	The Company may terminate this Agreement, at any time and for any reason,
pursuant to the Company’s board of directors’ resolution, by at least six (6) months prior written notice to the Employee
(hereinafter: the "Prior Notice" and the "Prior Notice Period", respectively).

 

	4.4	During the Prior Notice Period, the employee will continue to work and
discharge his duties and perform all his obligations hereunder, including the orderly transfer of his duties to whomever the Company
instructs. During the Prior Notice Period, the Employee will be entitled to the full compensation and fringe benefits to which
he was entitled immediately prior to the Prior Notice date; The Company, however, may waive all or any part of the Employee’s
work during the Prior Notice Period, provided the Company pays the Employee any compensation the Employee is entitled to with
respect to such portion of the Prior Notice Period for which the Company had waived the Employee’s work.

 

	4.5	Without derogating from the aforesaid, the Employee may terminate this
Agreement, at any time and for any reason, by at least three (3) months prior written notice to the Company. In such case, the
provisions of section 4.4 above shall apply, mutatis mutandis.

 

	4.6	Without derogating from the rights of the Company under this Agreement
and/or any law, the Company may terminate this Agreement, without prior written notice or payment in lieu of prior notice, and
the Employee’s work with the Company hereunder shall immediately terminate upon receipt of the board of directors’
notice by the Employee, upon the occurrence of any one of the following cases (hereinafter: the "Special Circumstances"):

 

		4.6.1	The
                                         Employee was convicted of a criminal offense (excluding traffic offenses) and/or offenses
                                         involving moral turpitude;

 

		4.6.2	Fundamental
                                         breach of this Agreement by the Employee which was not cured within 30 days following
                                         receipt of a written notice in this matter by the Employee;

 

		4.6.3	In
                                         case the Employee causes malicious damage to the Company’s affairs or good name;

 

		4.6.4	Any
                                         other case included in the circumstances in which the Company is entitled to duly dismiss
                                         the Employee without an entitlement to full or partial severance pay.

 

    	 	3	 

     

    

 

		4.7	The
                                         Employee undertakes that in any case in which he stops working with the Company, he will
                                         orderly transfer, in accordance with the Company’s instructions, his job duties
                                         to whomever the Company instructs, so as to enable such successor to continue performing
                                         the Employee’s duties in an orderly fashion without causing any harm to the Company.

 

	4.8	The Employee undertakes to forthwith return to the Company upon termination
of his work, or at any earlier date at the Company’s discretion, any property and/or assets of the Company in the Employee’s
possession, including all documents, information, magnetic media and any other materials reaching him and/or prepared by him in
connection with his work, and/or any assets and/or documents reaching him during or as part of his work. It is clarified that
the Employee shall have no right of lien over any assets and/or documents and/or property belonging to the Company in the Employee’s
possession and he hereby waives any such right of lien.

 

	5.	Employee’s Declarations and Undertakings

 

The
Employee hereby undertakes and declares as follows:

 

	5.1	He has the skills and ability required to perform his duties as set forth
in this Agreement and shall perform his duties with honesty, dedication, skills and fidelity and devote to his work his knowledge,
time, efforts and talents.

 

	5.2	The Employee declares that there is no legal and/or contractual and/or
other hindrance, to prevent or restrict in any manner his entering into this Agreement.

 

	5.3	The Employee undertakes to immediately notify the Company
of any matter or subject in which he has personal interest and/or which may create a conflict of interests with his position.

 

	5.4	As part of his position responsibilities, the Employee shall take any
steps required for protecting the Company’s interests, its property, rights, good name and goodwill, including by refraining
from making any acts and/or omissions which may harm and/or cause damages to the Company and to the extent required in the scope
of his position - shall represent the Company in a proper manner.

 

    	 	4	 

     

    

 

	6.	Compensation

 

		6.1	For
                                         his work and for fulfilling all of his duties under this Agreement, the Company will
                                         pay the Employee monthly compensation in the amount of NIS 38,000 (Employer’s cost),
                                         starting from the Employment Commencement Date. Such monthly compensation will automatically
                                         increase to the amount of NIS 52,000 (Employer’s costs) (regardless of whether
                                         the Employee choses to be provided with a car in accordance with section 13 below, or
                                         not), from the month in which the capital raising by the Company and/or its subsidiary
                                         4Eyes Autonomous Ltd. is completed (whether by means of a capital investment or loan)
                                         in an aggregate amount not lower than US$ 1,000,000 (One Million U.S. dollars) (hereinafter:
                                         the "Financing Date"). Such monthly compensation will automatically
                                         increase once again to the amount of NIS 65,000 (Employer’s costs) (regardless
                                         of whether the Employee choses to be provided with a car in accordance with section 13
                                         below, or not), from the month in which the capital raising by the Company and/or its
                                         subsidiary 4Eyes Autonomous Ltd. is completed (whether by means of a capital investment
                                         or loan) in an aggregate amount not lower than US$ 3,500,000 (Three Million and Five
                                         hundred thousand U.S. dollars). The monthly compensation will be made in accordance with
                                         the Company’s payment procedures. In view of the Employee’s position and
                                         duties and the expectation that such position requires working overtime, the above amount
                                         also represents global payment for working overtime (hereinafter: the "Compensation").

 

		6.2	It
                                         is expressly declared and clarified that the Employee’s position also requires
                                         working during the weekends, national (and Jewish) holidays and sometimes beyond the
                                         ordinary hours of full time position. The nature of this position requires a special
                                         degree of personal trust, and/or such working conditions that do not enable the Company
                                         any supervision over the Employee’s hours of work and rest, and that therefore,
                                         the Hours of Work and Rest Law, 5711-1951 (hereinafter: the "Hours of Work and
                                         Rest Law”) shall not apply to the Employee. Therefore, the parties agree that
                                         the provisions of the said Law shall not apply to the Employee’s employment by
                                         the Company and that the Employee shall not be entitled to receive any additional consideration
                                         for his work, except as expressly provided in this Agreement.

 

	6.3	The Employee shall bear all taxes and compulsory payments applicable
in connection with all the amounts, benefits, rights and privileges granted to the Employee hereunder. The Company may withhold
at the source, from any payment payable to the Employee any taxes and/or compulsory payments required under any law.

 

	7.	Annual Bonus

 

So
long as the Employee is employed in the position of CEO he will be entitled to an annual bonus as determined by the board of directors
of the Company and subject to any approvals required under any law.

 

		8.	Options

 

The
Company shall allocate option warrants to the Employee from time to time to purchase shares of the Company pursuant to its employee
stock option plan, in such amount and under such terms as determined by the board of directors of the Company and subject to any
approvals required under any law.

 

    	 	5	 

     

    

 

		9.	Social
                                         Security Benefits 

 

		9.1	Annual
                                         Vacation: The Employee will be entitled during the term of this Agreement to
                                         22 working days of vacation for each full year of employment. The utilization and redemption
                                         of vacation days shall in accordance with the provisions of the Annual Leave Law, 5718-1958
                                         and in coordination with the Company and according to the Company's needs. The Employee
                                         shall make any efforts to utilize each year his entire annual leave quota, but if such
                                         utilization of the entire annual leave quota is not possible, the Employee may accumulate
                                         the annual leave days for a period of two years. Any vacation days not utilized during
                                         the above said period shall be redeemed at a value of a working day to be determined
                                         in accordance with the Employee’s Compensation and the Company will pay him such
                                         amounts.

 

		9.2	Convalescence:
                                         The Employee shall be entitled to 10 days convalescence pay (dmei havraah) for
                                         each year in accordance with the tariff applicable from time to time under the prevailing
                                         extension orders. For part of a year, the Employee will receive partial convalescence
                                         pay.

 

		9.3	Sick
                                         Leave: The Employee shall be entitled to such number of sick leave days as applicable
                                         under the law. The Employee shall be entitled to payment of his full salary starting
                                         from the first day of absence due to an illness.

 

		9.4	Reserve
                                         Duty: The Employee shall be entitled to full Compensation from the Company during
                                         his reserve duty service. Any amount, however, paid to the Employee for such service,
                                         by the IDF or any other source, will be refunded to the Company by the Employee or be
                                         fully deducted from his salary. The Employee undertakes to furnish the Company with an
                                         appropriate confirmation about his active army reserve duty, for submission to the National
                                         Insurance Institute, so to enable the Company receive the applicable payments from the
                                         National Insurance Institute. To the extent that the refund from the National Insurance
                                         Institute exceeds the value of working day actually paid to the Employee in his salary
                                         for each reserve duty day, the Company will pay the Employee such difference.

 

	10.	Pension Insurance 

 

	10.1	The Company shall procure pension insurance for the Employee at his election
in a pension fund and/or managers’ insurance policy (hereinafter: the "Pension Arrangement").

 

	10.2	The Company shall contribute to the Pension Arrangement elected by the
Employee at the following rates:

 

		10.2.1	To
                                         a pension fund - The Company shall contribute at its expense an amount equivalent to
                                         8.33% of the monthly salary for severance pay plus 6% for Employer’s benefits.
                                         In addition, the Company shall deduct an amount equivalent to 5.5% of the Employee’s
                                         monthly salary, at the Employee’s expense, for pension (tagmulim) and deliver
                                         such amount to the Pension Arrangement.

 

		10.2.2	To
                                         managers’ insurance - The Company shall contribute at its expense an amount equivalent
                                         to 8.33% of the monthly salary for severance pay plus 5% for Employer’s benefits.
                                         In addition, the Company shall deduct an amount equivalent to 5% of the Employee’s
                                         monthly salary, at the Employee’s expense, for benefits (tagmulim) and deliver
                                         such amount to the Pension Arrangement. In addition, the Company shall pay payments for
                                         securing a monthly income in case of disability, at the rate of up to 2.5% of the monthly
                                         salary or such other rate that would confer a disability pension to the Employee at the
                                         rate of 75% of the salary, whichever is lower.

 

		10.3	Subject
                                         to full contribution by the Company as set forth above, the Company’s contributions
                                         for the pension component of the Pension Arrangement for the period in which such contributions
                                         were made shall come, for all intents and purposes, instead of severance pay pursuant
                                         to Section 14 of the Severance Pay Law, 5723-1963 (hereinafter: the "Severance
                                         Pay Law") and pursuant to the General Confirmation of the Minister of Labor
                                         and Social Affairs Regarding Payments of Employers to Pension Funds and Insurance Funds
                                         instead of Severance Pay, attached to this Agreement as Annex A.

 

    	 	6	 

     

    

 

		10.4	For
                                         the avoidance of doubt, it is hereby clarified that the Company waives its rights for
                                         any restitution for any amount paid by the Company to the policy and that it will release
                                         the full amount deposited in the policy/pension to the ownership of the Employee upon
                                         expiry of the labor relations. With reference to the Severance Pay as set forth above,
                                         the waiver is given save for the event that the Employee’s entitlement is denied
                                         pursuant to the provisions of Sections 16 or 17 of the Severance Pay Law, if any, or
                                         in the event that the Employee withdraws monies from the policy other than due to an
                                         “Entitling Event”. For this purpose, an “Entitling Event” means
                                         death, disability or retirement at the age of 60 or over.

 

		11.	Advanced
                                         Study Fund 

 

		11.1	The
                                         Employee shall be entitled to contributions to a recognized advanced study fund (keren
                                         hishtalmut), of his choosing. The Company shall contribute at its expense an amount
                                         at the rate of 6.5% of the Employee’s monthly salary and transfer them to the fund,
                                         and the Employee shall contribute additional 2.5% to the advanced study fund from his
                                         salary and the Company shall transfer such as well to the advanced study fund.

 

		11.2	The
                                         Employee shall bear all tax liabilities for any deposits to the advanced study fund that
                                         exceed the tax ceiling recognized for deposits to advanced study funds as such ceiling
                                         is defined from time in the Income Tax Regulations.

 

		11.3	Upon
                                         termination of the Employee's employment by the Company, for any reason, the Company
                                         will release all payments accumulated in the advance study fund to the ownership of the
                                         Employee.

 

		12.	Reimbursement
                                         of Expenses

 

The
Employee shall be entitled to reimbursement of expenses, against appropriate receipts, including for travel and accommodation,
all in accordance with the Company’s policies and procedures.

 

		13.	Car

 

		13.1	To
                                         the extent so elected by the Employee, starting from the Financing Date, the Company
                                         will make available a car for the Employee’s use (from the car category, the value
                                         of which exceeds a list price of NIS 180,000) and bear all the car expenses, including
                                         insurance, maintenance, fuel, parking while in duty and excluding fines, tickets for
                                         traffic offenses, deductibles demanded by the insurance company in case of an accident
                                         which is the Employee’s fault and private parking costs. The Employee will be responsible
                                         for the proper maintenance of the car and use it carefully and reasonably.

 

		13.2	The
                                         taxes imposed on the Employee with respect to the car benefit (value of car use) shall
                                         apply to the Employee.

 

		13.3	Upon
                                         termination/expiry of the Employee's employment with the Company, for any reason, the
                                         Employee will return the car to the Company.

 

		14.	Confidentiality
                                         and Non-Competition

 

The
Employee hereby undertakes towards the Company to comply with the provisions concerning confidentiality, non-competition, non-solicitation
and assignment of intellectual property rights, as set forth in Annex B attached hereto. Without derogating from
the generality of the aforesaid, the Employee is aware that the terms and conditions of this Agreement are personal and particularly
designed for him and that maintaining them in confidence is very important to the Company, and undertakes to keep confidential
the terms of his employment by the Company and not to disclose them to other/s, unless required to do so by any applicable laws.
The Employee declares and agrees that the breach of any of the provisions of Annex B shall constitute a fundamental breach of
this contract.

 

    	 	7	 

     

    

 

		15.	General

 

		15.1	The
                                         Employee may, at any time and at his discretion, assign and transfer all his rights and
                                         obligations under this Agreement to a company controlled by him (hereinafter: the "Company
                                         Controlled by the Employee"), provided (a) the Company Controlled by the Employee
                                         supplies the services under this Agreement exclusively by the Employee; and (b) save
                                         for the adding of VAT, no changes shall occur with respect to the costs to the Company
                                         as provided herein.

 

		15.2	No
                                         changes in the provisions of this Agreement shall be effective unless made in writing
                                         and signed by the parties.

 

		15.3	All
                                         taxes and levies which the Company is required to deduct at source under any law, may
                                         be deducted from all payments, rights and benefits to which the Employee is entitled,
                                         at the expense of the Employee, unless otherwise expressly specified herein.

 

		15.4	The
                                         Employee hereby undertakes to keep the contents of this Agreement fully confidential,
                                         including with respect to other employees of the Company, as those may be from time to
                                         time.

 

		15.5	This
                                         Agreement expresses and reflects the entire agreement between the parties and embodies,
                                         replaces and revokes any representations, undertakings, covenants, agreements, negotiations,
                                         customs and practices whatsoever, memorandum of understanding, offers, summaries of discussions,
                                         letters of intent and any other agreements or documents of understanding or arrangements,
                                         prevailing or exchanged between the parties, all whether orally or in writing, prior
                                         to the signing of this Agreement, which shall all be of no effect, to the extent not
                                         expressly embodied in this Agreement.

 

		15.6	If
                                         any provision and/or section of this Agreement, or any part thereof, is held by a court
                                         of competent jurisdiction to be inconsistent with the law or unenforceable, such judicial
                                         authority shall be asked to interpret such provision and/or section so as to allow the
                                         performance thereof in accordance with the parties’ intent, as such intent arises
                                         from the terms of this Agreement, and to the extent necessary, such provision and/or
                                         section or part thereof shall be limited or eliminated to the extent necessary so that
                                         the remaining provisions of this Agreement shall otherwise remain in effect.

 

		15.7	A
                                         failure by one of the parties hereto to exercise any right does not constitute a comprehensive
                                         waiver of such right and such party may exercise such right again.

 

		15.8	A
                                         breach of one or more of sections 4, 5, 6, 9, 12 and their subsections, shall be deemed
                                         a fundamental breach.

 

		15.9	Any
                                         notice by one party to the other and any matter which under or in accordance with this
                                         Agreement requires a notice shall be made in writing.

 

		15.10	The
                                         addresses of the parties hereto are as set forth in preamble to this Agreement. It is
                                         agreed that any notices sent by one party to the other party by registered mail shall
                                         be deemed to have been received by the other party 72 hours after being delivered to
                                         the post office and if delivered by hand, shall be deemed to have been immediately received.

 

		15.11	This
                                         Agreement shall be governed by Israeli law and the competent courts in Tel Aviv-Yafo
                                         shall be the exclusive place of jurisdiction in connection with this Agreement.

 

    	 	8	 

     

    

 

In
Witness Whereof we have Set Our Hand

 

	/s/ Haim Siboni	 	 	ASIA PITUACH (A.D.B.M.) LTD.
	Haim Siboni	 	By:	/s/ Eli Yoresh
	 	 	Name:	Eli Yoresh
	 	 	Title:	CFO

 

 

 

 

    	 	9	 

     

    

 

Annex
A

 

General
Confirmation Regarding Payments of Employers to Pension Funds

and
Insurance Funds instead of Severance Pay

(Under
the Severance Pay Law, 5723-1963)

 

Pursuant
to my authority under Section 14 of the Severance Pay Law, 5723-19631 (hereinafter: the "Law"), I
authorize that payments paid by an employer as of the publication of this Confirmation, in respect of his employees, towards a
comprehensive pension in a pension fund that is not an insurance fund as defined in the Income Tax Regulations (Rules for the
Authorization and Administration of Provident Funds) 5724-19642 (hereinafter: the "Pension Fund"),
or to a Manager’s Insurance Policy which includes the possibility of a pension in said insurance fund (hereinafter: the
“Insurance Fund"), or a combination of payments to a pension plan and a plan which is not a pension plan, including
payments paid by the employer combining payments to a pension fund and an insurance fund, whether or not the insurance fund includes
a pension program (hereinafter: the "Employer’s Payments"), shall come in lieu of severance pay payable
to said employee in respect of the salary from which such payments are made and in respect of the period in which said payments
are made (hereinafter: the "Exempted Salary"), provided the following has been fulfilled: 

 

	(1)	Employer Payments

 

		(A)	For
                                         Pension Fund are not less than 141/3% of the Exempted Salary or
                                         12% of the Exempted Salary, if the Employer pays for his employee in addition, supplementary
                                         payments on behalf of the severance pay completion for a providence fund or Insurance
                                         Fund at the rate of 21/3% of the Exempted Salary. If the Employer
                                         does not pay in addition to the 12% also 21/3% as aforesaid, his
                                         payments will come in lieu of 72% of the severance pay of the employee only;

 

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

 

		(1)	131/3%
                                         of the Exempted Salary, if the Employer pays the employee additional payments to insure
                                         his monthly income in case of work disability, in a plan approved by the Supervisor of
                                         the Capital Market, Insurance and Savings in the Finance Ministry, at the lower of, a
                                         rate required to insure 75% of the Exempted Salary or 21⁄2% of the Exempted Salary
                                         (hereinafter: the “Disability Insurance Payment").

 

		(2)	11%
                                         of the Exempted Salary, if the Employer pays in addition also a disability insurance
                                         payment, and in such a case the Employer’s payments will come in lieu of 72% of
                                         the severance pay of the employee, only; if the Employer pays in addition to this also
                                         supplementary payments on behalf of the severance pay completion to a severance fund
                                         or to an insurance fund in the employee’s name at a percentage of 21/3%
                                         of the Exempted Salary, the Employer’s payments will come in lieu of 100% of the
                                         employee’s severance pay.

 

		(2)	A
                                         written agreement must be made between the Employer and employee no later than three
                                         months after the commencement of the Employer Payments that include -

 

		(A)	The
                                         employee agreement to the arrangement according to this Confirmation in a version detailing
                                         the Employer’s payments and the Pension Fund and the Insurance Fund, as the case
                                         may be; in such an agreement the version of this Confirmation will be also included;

 

		(B)	An
                                         advance waiver of the Employer for any right that he/it could have, to have his payments
                                         refunded, unless the employee’s right to severance pay is denied by judgment according
                                         to sections 16 or 17 of the Law, or in case the employee withdrew monies from the Pension
                                         Fund or Insurance Fund not for an Entitling Event; For this purpose, an “Entitling
                                         Event” means - death, disability or retirement at the age of 60 or over.

 

		(3)	This
                                         Confirmation does not derogate from the employee’s entitlement to severance pay
                                         according to the Law, collective agreement, extension order or personal employment agreement,
                                         for any salary above the Exempted Salary.

 

15th
of Sivan, 5758 (June 9, 1998)

 

(HM
3-327)

 

	 	Mr.
    Eliyahu Yishai
	 	The
    Minister of Labor and Social Affairs

 

 

 

1
Journal of Laws 5723 (1963), Page 136

2
Collection of Regulations 5724 (1964), Page 1302

 

    	 	A-1	 

     

    

 

Annex
B

 

To
the Employment Agreement between ASIA PITUACH (A.D.B.M.) LTD., (the "Company") and Haim Siboni
(the "Employee") dated January 5, 2016

 

To

ASIA
PITUACH (A.D.B.M.) LTD.

7
Jabotinsky Street, Ramat Gan

Israel

 

In
addition to that stated in section 14 of the Agreement, and as I am employed in the position of CEO, I the undersigned, Haim
Siboni, hereby undertake to the Company as follows:

 

		1.	Confidentiality,
                                         Non-Competition and Non-Solicitation

 

		1.1.	I
                                         hereby declare and confirm that I am aware of the fact that any information which was
                                         directly and/or indirectly provided and/or shall be provided and/or that came, and/or
                                         shall come to my knowledge during and/or as a result of my work with the Company, in
                                         connection with the Company, its business and activities, including without derogating
                                         from the generality of the foregoing, any business, financial, professional, technical,
                                         technological, commercial and economic information (hereinafter, jointly: the "Confidential
                                         Information"), is secret and valuable for the Company and its disclosure shall
                                         cause the Company significant harm and damage. All Confidential Information shall be
                                         and remain the exclusive property of the Company. Despite the aforesaid, the Confidential
                                         Information shall not include (a) Information which was known to the Employee prior to
                                         the Commencement of Employment with the Company; or (b) Is or becomes generally available
                                         in the public domain, including in the industry in which the Company and/or its subsidiaries
                                         are active, including by means of publication of academic papers or patent applications
                                         other than by reason of the Employee’s act or omission, constituting a breach of
                                         this Agreement; or (c) Reflects the general knowhow and experience acquired by the Employee
                                         during the term of his employment by the Company, or (d) Information which the Employee
                                         had developed independently, without using the Confidential Information received during
                                         his work with the Company.

 

		1.2.	I
                                         further acknowledge that I am aware that during the course of my work I will learn and/or
                                         acquire confidential information of third parties as well, which as aforesaid is part
                                         of the Confidential Information with respect to which the Company is owing a confidentiality
                                         obligation to such third parties, the disclosure of which may cause the Company to breach
                                         its confidentiality obligations.

 

		1.3.	I
                                         hereby undertake to keep in strict confidence all or any such Confidential Information,
                                         not to disclose it to other/s and not allow its exposure to other/s and not directly
                                         or indirectly make any use thereof, both during the course of my employment with the
                                         Company and for a period of 36 months thereafter, unless for the purpose of fulfilling
                                         my duties for the Company under my Employment Agreement. The provisions of this Agreement
                                         shall not apply to any Confidential Information required by law to be disclosed, or any
                                         Confidential Information ordered to be disclosed pursuant to an explicit direction of
                                         a competent authority.

 

		1.4.	Without
                                         derogating from and further to my undertakings hereunder, I hereby undertake that immediately
                                         upon the termination/expiry of my work with the Company or at its demand, whichever is
                                         earlier, I will return to the Company any documents, objects etc. which contain or refer
                                         to any Confidential Information and I shall delete all files in my possession which contain
                                         any such Confidential Information.

 

		1.5.	I
                                         hereby undertake to take all necessary precautions to prevent the loss of any such Confidential
                                         Information and/or the reaching of such Confidential Information and/or documents to
                                         the hands of third parties. I will immediately inform the Company of any event where
                                         any such Confidential Information is lost and/or reaches third parties.

 

		1.6.	Further
                                         to my confidentiality undertakings and in view of the sensitive nature of the information
                                         to which I am exposed and my senior position and in order to protect such legitimate
                                         interests of the Company, I hereby undertake that both during the course of my employment
                                         with the Company and for a period of 12 months following the termination of the employee-employer
                                         relationship between me and the Company (hereinafter: the "Non-Competition Period")
                                         I shall not, directly and/or indirectly, work and/or provide services, either by myself
                                         or through any corporation on my behalf, as a salaried employee, self-employed person,
                                         consultant, partner, shareholder, director or otherwise, as part of or for any customer
                                         of the Company, or for any competitor company/entity, in any business competing with
                                         the Company’s business and refrain from any activities competing with the Company’s
                                         business.

 

    	 	B-1	 

     

    

 

		1.7.	Moreover,
                                         I further undertakes not to approach during my employment and during the Non-Competition
                                         Period any of the Company’s customers, suppliers and service providers, including
                                         such entities with whom the Company has conducted negotiations at the time of termination
                                         of my employment with the Company, with an intent to make them my customers, suppliers
                                         or service providers, respectively, and shall not propose any business transactions or
                                         services to them dealing with the same line of business in which the Company is active,
                                         other than in the name of the Company and as part of my duties towards the Company, and/or
                                         shall not receive from them (whether of my initiative or their initiative) either directly
                                         or indirectly, any position, invitation, offer, work, provision of service or business
                                         in which the Company is or has been engaged or, to my best knowledge, contemplated to
                                         engage.

 

		1.8.	During
                                         the course of my employment with the Company and throughout the Non-Competition Period,
                                         I undertake to refrain from any solicitation of employees of the Company to leave their
                                         employment with the Company, to refrain from any solicitation of employees of the Company
                                         to work or serve another entity or employ them by any other entity.

 

	2.	Intellectual Property

 

		2.1.	Without
                                         derogating from the Company’s rights under any law or this Agreement, I hereby
                                         agree that all discoveries, ideas, developments, products, inventions (whether patentable,
                                         or registered as trademark, or not, or whether protectable as trademarks or not) copyrights,
                                         methods, plans, data, processes, technologies, drawings, specifications, documentation,
                                         records, etc. (hereinafter: the "Developments and Inventions") which
                                         I discovered and/or shall discover, developed and/or shall develop, invented and/or shall
                                         invent, created and/or shall create, conceived and/or shall conceive, as a result of
                                         my employment or in connection thereto, either alone or with others, are the full and
                                         exclusive property of the Company and I have no and shall have no ownership or rights
                                         of any kind whatsoever in or with respect thereto. I further agree that to the extent
                                         any formal or additional action is required on my part in connection with the Developments
                                         and Inventions, etc. for the purpose of exercising any of my above undertakings and obligations,
                                         including for the purpose of formally transferring title in any such Developments and
                                         Inventions to the Company, such as the assignment of rights thereto - I shall forthwith
                                         do any such actions as the Company may demand.

 

		2.2.	For
                                         the avoidance of doubt, I hereby transfer and assign to the Company all my rights, including
                                         without limitation, the ownership and title and/or moral rights which I have or shall
                                         have in the future (if any) whether alone or together with others in or to the Developments
                                         and Inventions.

 

		2.3.	For
                                         the avoidance of doubt, it is hereby clarified that the provisions of sections 2.1-2.3
                                         above shall also apply with respect to a Service Invention, as such term is defined in
                                         the Patent Law, 5727-1967 (hereinafter: the "Patent Law") and that I
                                         shall have no rights whatsoever, including any property rights in any Service Inventions
                                         and that the provisions of Section 132(b) of said Law shall not apply, unless the Company
                                         agrees otherwise in writing.

 

		2.4.	I
                                         shall not be entitled to any royalties, compensation or other payments and benefits of
                                         any kind whatsoever, for or in connection with the Developments and Inventions and/or
                                         in connection with the Service Invention and/or any commercial or other exploitation
                                         of the aforesaid, and it is hereby clarified, without derogating from the above, that
                                         I shall not be entitled to any consideration for the Service Invention in connection
                                         with Section 134 of the Patent Law.

 

    	 	B-2	 

     

    

 

I hereby declare that I understand the nature of my undertakings and I am aware of their contents.

 

In
Witness Whereof I have set my Hand:

 

	 	 	ASIA PITUACH (A.D.B.M.) LTD.
	/s/
Haim Siboni	 	 	 
	   Haim
    Siboni	 	By:	/s/
    Eli Yoresh
	 	 	Name;	Eli Yoresh
	 	 	Title: 	CFO

 

B-3

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