Document:

EXHIBIT 4.4

 

AMENDMENT NO. 5 TO

AMENDED AND RESTATED SERVICING AGREEMENT

 

THIS AMENDMENT NO. 5
TO AMENDED AND RESTATED SERVICING AGREEMENT, dated as of as of July 17, 2012, and effective as of June 30, 2012 (this “Amendment”),
is between General Electric Capital Corporation, a Delaware corporation in its capacity as master servicer (the “Master
Servicer”), and GE Dealer Floorplan Master Note Trust, a Delaware statutory trust (“Owner”).

 

BACKGROUND

 

The parties hereto
are parties to an amended and restated servicing agreement, dated as of June 30, 2006 (as amended, modified or supplemented prior
to the date hereof, the “Servicing Agreement”), between the Master Servicer and Owner; and the parties hereto
desire to amend the Servicing Agreement as set forth herein.

 

NOW, THEREFORE, in
consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto hereby agree as follows:

 

SECTION 1. Definitions.
Capitalized terms defined in the Servicing Agreement and used but not otherwise defined herein have the meanings given to them
in the Servicing Agreement.

 

SECTION 2. Amendments
to Servicing Agreement.

 

(a)            Section 1.1 of the Servicing Agreement is hereby amended by adding the following definitions in the appropriate alphabetical
order:

 

“Credit Insurance”
means credit insurance or other similar credit enhancement with respect to a Receivable supporting payment of such Receivable or
the creditworthiness of the related Dealer.

 

“Credit Insurance Receivable”
means, at any time, any Receivable that is then covered by Credit Insurance.

 

“Reimbursement Amount”
means, with respect to any Credit Insurance Receivable, any amounts owed to the provider of the Credit Insurance from the proceeds
of the Receivable or the Collateral Security or Collections with respect thereto covered by such Credit Insurance.

 

(b)           The
definition of Collections in Section 1.1 of the Servicing Agreement is hereby amended by amending and restating the first
and second sentences thereof to read in their entirety as follows:

 

““Collections”
means, without duplication, the sum of (a) all payments by or on behalf of Dealers received in respect of the Transferred Receivables
(including proceeds from the realization upon any Collateral Security) in the form of cash, 

 

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checks, wire transfers or any
other form of payment, (b) all payments deemed to be collections by or on behalf of Dealers received in respect of the Transferred
Receivables and (c) amounts received under or in connection with any Credit Insurance. Collections of Non-Principal Receivables
shall include all Recoveries; provided, that any Recoveries or other amounts received up to the Reimbursement Amount with respect
to a Credit Insurance Receivable shall be deemed not to be Collections or otherwise Collateral for any purposes hereof.”

 

(c)            The definition of Non-Principal Collections in Section 1.1 of the Servicing Agreement is hereby amended and restated
in its entirety to read as follows:

 

““Non-Principal
Collections” means the sum of (a) Collections of interest and all other non-principal charges (including insurance service
fees and handling fees) on the Receivables, provided that if the Master Servicer does not allocate such non-principal charges to
specific Receivables, the amounts received shall constitute “Non-Principal Collections” pursuant to this clause
(a) if they are paid by a Dealer which is an obligor of an Account; (b) all Recoveries; provided, that any Recoveries or other
amounts received up to the Reimbursement Amount with respect to a Credit Insurance Receivable shall be deemed not to be Collections
or otherwise Collateral for any purposes hereof; (c) all interest and earnings on investments included in the Excess Funding Account
(as defined in the Indenture), net of losses and investment expenses; (d) payments by Dealers of Manufacturer Discount Amounts
(including amounts deemed to be payments of such Manufacturer Discounts Amounts); (e) payments by Manufacturers of Manufacturer
Subsidy Amounts; (f) amounts deemed to be collections of interest and non-principal charges by or on behalf of Dealers; (g) amounts
received under or in connection with any Credit Insurance to the extent not allocated by the Master Servicer as Principal Collections
in accordance with its current practices and (h) the product of (i) any other Collections not described in the preceding clauses
(a) through (g) of this definition, multiplied by (ii) the Discount Factor.”

 

(d)            The
definition of “Principal Collections” in Section 1.1 of the Servicing Agreement is hereby amended to add the
following new sentence immediately following the last sentence thereof:

 

“Amounts received under or
in connection with any Credit Insurance to the extent not allocated as Non-Principal Collections by the Master Servicer in accordance
with its current practices shall be deemed to be Principal Collections.”

 

SECTION 3. Representations
and Warranties. In order to induce the parties hereto to enter into this Amendment, each of the parties hereto represents and
warrants unto the other parties hereto as set forth in this Section 3.

 

(a)               
Due Authorization, Non Contravention, etc. The execution, delivery and performance by such party of the Amendment
are within its powers, have been duly authorized by all necessary action, and do not (i) contravene its organizational documents;
or (ii) contravene 

 

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any contractual restriction, law or governmental regulation or court decree or order binding on or affecting
it. 

 

(b)              
Validity, etc. This Amendment constitutes the legal, valid and binding obligation of such party enforceable against
such party in accordance with its terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors’
rights and general equitable principles.

 

SECTION 4. Binding
Effect; Ratification.

 

(a)               
This Amendment is dated as of the date first set forth above and shall become effective, as of June 30, 2012, when (i) counterparts
hereof shall have been executed and delivered by the parties hereto and (ii) the S&P Condition shall have been satisfied with
respect to this Amendment, and thereafter this Amendment shall be binding on the parties hereto and their respective successors
and assigns.

 

(b)              
The Servicing Agreement, as amended hereby, remains in full force and effect. On and after the date hereof, each reference
in the Servicing Agreement to “this Agreement”, “hereof”, “hereunder” or words of like import,
and each reference in any other Related Document to the Servicing Agreement, shall mean and be a reference to such Servicing Agreement,
as amended hereby.

 

(c)               
Except as expressly amended hereby, the Servicing Agreement shall remain in full force and effect and is hereby ratified
and confirmed by the parties hereto.

 

SECTION 5. Miscellaneous.

 

(a)               
THIS AMENDMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY
AND PERFORMANCE, BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING
SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER CONFLICT OF LAWS PROVISIONS THEREOF)
AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

 

(b)              
EACH PARTY HERETO HEREBY CONSENTS AND AGREES THAT THE STATE OR FEDERAL COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN NEW
YORK CITY SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIM OR DISPUTES BETWEEN THEM PERTAINING TO THIS AMENDMENT
OR TO ANY MATTER ARISING OUT OF OR RELATED TO THIS AMENDMENT; PROVIDED, THAT EACH PARTY HERETO ACKNOWLEDGES THAT ANY APPEAL
FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE BOROUGH OF MANHATTAN IN NEW YORK CITY. EACH PARTY HERETO
SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH PARTY HERETO
WAIVES ANY OBJECTION THAT SUCH PARTY MAY HAVE BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM 

 

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NON CONVENIENS
AND HEREBY CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT. EACH
PARTY HERETO HEREBY WAIVES PERSONAL SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT
AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED
TO SUCH PARTY AT ITS ADDRESS DETERMINED IN ACCORDANCE WITH SECTION 8.1 OF THE SERVICING AGREEMENT AND THAT SERVICE
SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF SUCH PARTY’S ACTUAL RECEIPT THEREOF OR THREE DAYS AFTER DEPOSIT
IN THE UNITED STATES MAIL, PROPER POSTAGE PREPAID. NOTHING IN THIS SECTION SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO
SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 

 

(c)               
BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY
AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES),
THE PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION
OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, THE PARTIES HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT,
OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, ARISING OUT OF, CONNECTED WITH,
RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY.

 

(d)              
Headings used herein are for convenience of reference only and shall not affect the meaning of this Amendment or any provision
hereof.

 

(e)               This
Amendment may be executed in any number of counterparts, and by the parties hereto on separate counterparts, each of which when
executed and delivered shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.

 

(f)               
Executed counterparts of this Amendment may be delivered electronically.

 

[SIGNATURES FOLLOW]

 

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IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be duly executed as of the date first above written.

 

GE DEALER FLOORPLAN MASTER NOTE TRUST,

as Owner

 

		By:	BNY MELLON TRUST OF DELAWARE,

not in its individual capacity,

but solely as Trustee on behalf of Owner

 

By: /s/ Kristine K. Gullo___________________________

Name:  Kristine K. Gullo

Title:    Vice President

 

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GENERAL ELECTRIC CAPITAL CORPORATION,

as the Master Servicer

By: /s/ Peter Graham______________________________

Name: Peter Graham

Title:   Attorney-in-Fact

 

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                                                                                                                                                                                                                                                                                                                                                          AgreementExhibit 4.1

FORM OF RESTRICTED STOCK AGREEMENT/NOTICE

 

PROTALIX BIOTHERAPEUTICS, INC.

2006 STOCK INCENTIVE PLAN, AS AMENDED

 

NOTICE OF RESTRICTED STOCK AWARD

 

	Grantee’s Name and Address:	 	 
	 	 	 
	 		 

 

You (the “Grantee”) have been
granted an award of restricted shares (the “Award”) of the Company's common stock, par value $.001 per share (the “Common
Stock”), subject to the terms and conditions of this Notice of Restricted Stock Award (the “Notice”), the Protalix
BioTherapeutics, Inc. 2006 Stock Incentive Plan, as amended on June 17, 2012 (the “Plan”), as may be further amended
from time to time, and the Restricted Stock Award Agreement (the “Agreement”) attached hereto, as set forth herein.
Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Notice.

 

	Date of Award	 	 
	Vesting Commencement Date	 	 
	Total Number of Shares	 	 
	of Common Stock Awarded	 	 
	(the “Shares”)	 	 

  

Vesting Schedule:

 

Subject to the Grantee’s Continuous
Service and other limitations set forth in this Notice, the Plan and the Agreement, the Shares will “vest” in accordance
with the following schedule:

 

[INSERT APPLICABLE VESTING SCHEDULE AND
OTHER VESTING MATTERS]

 

If the Grantee ceases to serve as an Employee
but continues to serve as either Director or Consultant, the Shares shall continue to vest in accordance with the Vesting Schedule
set forth above.

 

For purposes of this Notice and the Agreement,
the term “vest” shall mean, with respect to any Shares, that such Shares are no longer subject to forfeiture to the
Company. Shares that have not vested are deemed “Restricted Shares.” If the Grantee would become vested in a fraction
of a Restricted Share, such Restricted Share shall not vest until the Grantee becomes vested in the entire Share.

 

Vesting shall cease upon the date of termination
of the Grantee’s Continuous Service for any reason, including death or Disability. If the Grantee’s Continuous Service
is terminated for any reason, including death or Disability, any Restricted Shares held by the Grantee immediately following such
termination of Continuous Service shall be deemed reconveyed to the Company and the Company shall thereafter be the legal and beneficial
owner of the Restricted Shares and shall have all rights and interest in or related thereto without further action by the Grantee.
The foregoing forfeiture provisions set forth in this Notice as to Restricted Shares shall apply to the new capital stock or other
property (including cash paid other than as a regular cash dividend) received in exchange for the Shares in consummation of any
transaction described in Section 11 of the Plan and such stock or property shall be deemed Additional Securities (as defined
in the Agreement) for purposes of the Agreement, but only to the extent the Shares are at the time covered by such forfeiture provisions.

 

    	 

    	 

    
  

Except as expressly set forth herein, the
Award shall be subject to the provisions of Section 11 of the Plan in the event of a Corporate Transaction or Change in Control.

 

IN WITNESS WHEREOF, the Company and the
Grantee have executed this Notice and agree that the Award is to be governed by the terms and conditions of this Notice, the Plan
and the Agreement.

 

	 	PROTALIX BIOTHERAEUTICS, INC.
	 	 	 
	 	By: 	 
	 		Name:
	 	 	Title:

  

THE GRANTEE ACKNOWLEDGES AND AGREES THAT THE SHARES SHALL VEST,
IF AT ALL, ONLY DURING THE PERIOD OF THE GRANTEE’S CONTINUOUS SERVICE (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED
THIS AWARD OR ACQUIRING SHARES HEREUNDER). THE GRANTEE FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS NOTICE, THE AGREEMENT
NOR THE PLAN SHALL CONFER UPON THE GRANTEE ANY RIGHT WITH RESPECT TO CONTINUATION OF THE GRANTEE’S CONTINUOUS SERVICE, NOR
SHALL IT INTERFERE IN ANY WAY WITH THE GRANTEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE THE GRANTEE’S CONTINUOUS
SERVICE AT ANY TIME, WITH OR WITHOUT CAUSE, AND WITH OR WITHOUT NOTICE. THE GRANTEE ACKNOWLEDGES THAT UNLESS THE GRANTEE HAS A
WRITTEN AGREEMENT WITH THE COMPANY TO THE CONTRARY, THE GRANTEE’S STATUS IS AT WILL.

 

As a condition to receiving the Shares,
the Grantee agrees to refrain from making an election pursuant to Section 83(b) of the Code with respect to the Shares.

 

The Grantee acknowledges receipt of a copy
of the Plan and the Agreement and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts
the Award subject to all of the terms and provisions hereof and thereof. The Grantee has reviewed this Notice, the Agreement and
the Plan in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Notice and fully understands
all provisions of this Notice, the Agreement and the Plan. The Grantee hereby agrees that all questions of interpretation and administration
relating to this Notice, the Plan and the Agreement shall be resolved by the Administrator in accordance with Section 12 of
the Agreement. The Grantee further agrees to the venue selection in accordance with Section 13 of the Agreement. The Grantee
further agrees to notify the Company upon any change in the residence address indicated in this Notice.

 

	Dated: ______________________	 	Signed: ______________________

 

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PROTALIX
BIOTHERAPEUTICS, INC.

2006 STOCK INCENTIVE PLAN, as amended

 

RESTRICTED STOCK AWARD AGREEMENT

 

1.Issuance of Shares. Protalix
BioTherapeutics, Inc., a Florida corporation (the “Company”), hereby issues to the Grantee (the “Grantee”)
named in the Notice of Restricted Stock Award (the “Notice”), the Total Number of Shares of Common Stock Awarded set
forth in the Notice (the “Shares”), subject to the Notice, this Restricted Stock Award Agreement (the “Agreement”)
and the terms and provisions of the Company’s 2006 Stock Incentive Plan, as amended on June 17, 2012 (the “Plan”),
as may be further amended from time to time, which are incorporated herein by reference. Unless otherwise defined herein, the terms
defined in the Plan shall have the same defined meanings in this Agreement. All Shares issued hereunder will be deemed issued to
the Grantee as fully paid and nonassessable shares. The Company shall pay any applicable stock transfer taxes imposed upon the
issuance of the Shares to the Grantee hereunder.

 

(a)Shares granted to Israeli
employees are granted under Section 102 of the Tax Ordinance and the rules, regulations, orders and procedures promulgated thereunder
(“Section 102”) and are referred to herein as "Trustee 102 Shares." All Trustee 102 Shares will be held in
trust by a Trustee appointed by the Company in its sole discretion and approved pursuant to Section 102.

 

(b)With respect to Trustee
102 Shares, the Grantee hereby acknowledges that he or she is familiar with the provisions of Section 102, including without limitation
the type of Shares granted hereunder and the tax implications applicable to such grants.

 

(c)Any Trustee 102 Share which
is granted under the Plan and/or other shares received with respect to any Trustee 102 Share in connection with any change in capitalization
as specified in Section 10 of the Plan, shall be allocated or issued to the Trustee and held for the benefit of the Grantee for
such period of time as required by Section 102 (the “Holding Period”). If the requirements for Trustee 102 Shares are
not met for any reason whatsoever, then the Trustee 102 Shares may be treated as Non-Trustee 102 Shares in accordance with the
provisions of Section 102.

 

(d)With respect to any Trustee
102 Share, subject to the provisions of Section 102, the Grantee shall not sell or release from trust any Trustee 102 Share and/or
any right deriving from or in connection therewith, including, without limitation, in accordance with Section 10 of the Plan or
any bonus shares or stock dividends issued in connection therewith, until the later of (i) the lapse of the Holding Period required
under Section 102, and (ii) the Vesting Dates pursuant hereto; provided, that the Grantee has deposited with the Trustee
the funds which, in the Trustee’s opinion, is sufficient and necessary for the discharge of the Grantee’s tax obligations
with respect to such Shares and/or rights. Notwithstanding the above, if any such sale or release occurs during the Holding Period,
the sanctions under Section 102 shall apply to and any expenses and/or tax consequences therefrom shall be borne by the Grantee.

 

    	 

    	 

    
 

  

2.Transfer Restrictions. The
Restricted Shares issued to the Grantee hereunder may not be sold, transferred by gift, pledged, hypothecated, or otherwise transferred
or disposed of by the Grantee prior to the date when the Shares become vested pursuant to the Vesting Schedule set forth in the
Notice. Any attempt to transfer Restricted Shares in violation of this Section 2 will be null and void and will be disregarded.

 

3.Holding and Escrow of Stock.
The Grantee agrees that the Restricted Shares may be held electronically in a book entry system maintained by the Company’s
transfer agent. If the Restricted Shares are issued in certificated form and are not held by a Trustee for any reason, the Grantee
agrees, immediately upon receipt of the certificate(s) for the Restricted Shares, to deliver such certificate(s), together with
an Assignment Separate from Certificate in the form attached hereto as Exhibit A, executed in blank by the Grantee
with respect to each such stock certificate, to the Secretary or Assistant Secretary of the Company, or their designee, to hold
in escrow for so long as such Restricted Shares have not vested pursuant to the Vesting Schedule set forth in the Notice, with
the authority to take all such actions and to effectuate all such transfers and/or releases as may be necessary or appropriate
to accomplish the objectives of this Agreement in accordance with the terms hereof. The Grantee hereby acknowledges that the appointment
of the Secretary or Assistant Secretary of the Company (or their designee) as the escrow holder hereunder with the stated authorities
is a material inducement to the Company to make this Agreement and that such appointment is coupled with an interest and is accordingly
irrevocable. The Grantee agrees that such escrow holder shall not be liable to any party hereto (or to any other party) for any
actions or omissions unless such escrow holder is grossly negligent relative thereto. The escrow holder may rely upon any letter,
notice or other document executed by any signature purported to be genuine and may resign at any time. Upon the vesting of the
certificated Restricted Shares, the escrow holder will, without further order or instruction, transmit to the Grantee the certificate
evidencing such Shares; provided, however, that no transmittal of certificates evidencing the Shares will occur unless
and until the Grantee has satisfied all Tax Withholding Obligations (as defined in Section 6(c) below).

 

4.Additional Securities and Distributions.
Any securities or cash received (other than a regular cash dividend) as the result of ownership of the Restricted Shares (the “Additional
Securities”), including, but not by way of limitation, warrants, options and securities received as a stock dividend or stock
split, or as a result of a recapitalization or reorganization or other similar change in the Company’s capital structure,
shall be transferred to the Trustee on the Grantee's behalf, or, with respect to Additional Securities issued in respect of certificated
Restricted Securities that are not held by a Trustee, retained in escrow in the same manner and subject to the same conditions
and restrictions as the Restricted Shares with respect to which they were issued, including, without limitation, the Vesting Schedule
set forth in the Notice. The Grantee shall be entitled to direct the Company to exercise any warrant or option received as Additional
Securities upon supplying the funds necessary to do so, in which event the securities so purchased shall constitute Additional
Securities, but the Grantee may not direct the Company to sell any such warrant or option. If Additional Securities consist of
a convertible security, the Grantee may exercise any conversion right, and any securities so acquired shall constitute Additional
Securities. In the event of any change in certificates evidencing the Shares or the Additional Securities by reason of any recapitalization,
reorganization or other transaction that results in the creation of Additional Securities, the escrow holder is authorized to deliver
to the issuer the certificates evidencing the Shares or the Additional Securities in exchange for the certificates of the replacement
securities.

 

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5.Rights as Stockholder. Except
as set forth in Section 1 with respect to Trustee 102 Shares and in Section 4, upon the issuance of the Restricted Shares to the
Grantee (or to a trustee on behalf of Grantee) and the entry of the Grantee’s (or its trustee's) name as a stockholder of
record on the books of the Company, the record holder of the Restricted Shares shall be, unless and until such Restricted Shares
are forfeited pursuant to the Notice, this Agreement or the Plan, or sold or otherwise disposed of pursuant to the Notice, this
Agreement or the Plan, entitled to all rights of a common stockholder of the Company, including, without limitation, the right
to vote such Restricted Shares and the right to receive all cash dividends or other distributions paid or made with respect thereto;
provided, however, that any cash dividends or distributions declared or paid on the Restricted Shares or upon any Additional Securities
issued in respect thereof, by the Company shall be deferred and paid or held in trust, as the case may be, at the same time as
the Restricted Shares in respect of which such dividends or distributed were made vest pursuant to the Notice and this Agreement.
Notwithstanding the foregoing, the Grantee acknowledges that during such time that the Restricted Shares are registered in the
name of a trustee, if and to the extent that the Grantee shall have the right to vote with respect to any Restricted Share, the
Grantee shall be required to follow the instructions of the trustee, if at all.

 

6.Taxes.

 

(a)To the extent permitted
by applicable law, any tax consequences arising from the grant of any Share or from any other event or act hereunder (whether taken
by the Company, a Related Entity, their respective affiliates, the Trustee or the Grantee), shall be borne solely by the Grantee.
The Company, any Related Entity and/or the Trustee shall withhold taxes according to the requirements under applicable laws, rules,
and regulations, including withholding taxes at source. Furthermore, the Grantee hereby agrees to indemnify the Company, any Related
Entity and/or the Trustee and hold them harmless against and from any and all liability for or in connection with any such
tax or interest or penalty thereon, including without limitation, liabilities relating to the necessity to withhold, or to have
withheld, any such tax from any payment made to the Grantee.

 

(b)The Grantee will not be
entitled to receive from the Company, any Related Entity and/or the Trustee, nor will the Trustee be required to release, any Shares
or any other securities issued in respect thereof prior to the full payment by the Grantee of the tax liabilities arising from
the Shares granted to the Grantee. Neither the Company nor the Trustee shall be required to release any Shares (certificated or
otherwise) to the Grantee until all payments required to be made by the Grantee, in the Trustee’s opinion, have been fully
satisfied.

 

(c)The Company makes no representations
or warranties regarding the tax treatment in connection with any aspect of the grant of any Share hereunder, including ultimate
sale of any Share.

 

(d)The receipt of the Shares
may result in tax consequences. THE GRANTEE IS ADVISED TO CONSULT A TAX ADVISER WITH RESPECT TO THE TAX CONSEQUENCES OF RECEIVING
THE SHARES OR SELLING THE SHARES IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT, THE NOTICE AND THE PLAN.

 

 

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(e)No Section 83(b)
Election. As a condition to receiving the Shares, the Grantee agrees to refrain from making an election pursuant to Section 83(b)
of the Code with respect to the Shares.

 

(f)Tax Liability. The
Grantee is ultimately liable and responsible for all taxes owed by the Grantee in connection with the Award, regardless of any
action the Company or any Related Entity takes with respect to any tax withholding obligations
that arise in connection with the Award. Neither the Company nor any Related Entity makes any
representation or undertaking regarding the treatment of any tax withholding in connection with the grant or vesting of the Award
or the subsequent sale of Shares subject to the Award. The Company and its Related Entities do
not commit and are under no obligation to structure the Award to reduce or eliminate the Grantee’s tax liability.

 

(g)Payment of Withholding
Taxes. Prior to any event in connection with the Award (e.g., vesting) that the Company determines may result in any tax withholding
obligation, whether United States federal, state, local or non-U.S., including any employment tax obligation (the “Tax Withholding
Obligation”), the Grantee must arrange for the satisfaction of the minimum amount of such Tax Withholding Obligation in a
manner acceptable to the Company.

 

(i)By Share Withholding. The Grantee
authorizes the Company to, upon the exercise of its sole discretion, withhold from those Shares issuable to the Grantee the whole
number of Shares sufficient to satisfy the minimum applicable Tax Withholding Obligation. The Grantee acknowledges that the withheld
Shares may not be sufficient to satisfy the Grantee’s minimum Tax Withholding Obligation. Accordingly, the Grantee agrees
to pay to the Company or any Related Entity as soon as practicable, including through additional
payroll withholding, any amount of the Tax Withholding Obligation that is not satisfied by the withholding of Shares described
above.

 

(ii)By Sale of Shares. Unless the
Grantee determines to satisfy the Tax Withholding Obligation by some other means in accordance with clause (iii) below, the Grantee’s
acceptance of this Award constitutes the Grantee’s instruction and authorization to the Company and any brokerage firm determined
acceptable to the Company for such purpose to sell on the Grantee’s behalf a whole number of Shares from those Shares issuable
to the Grantee as the Company determines to be appropriate to generate cash proceeds sufficient to satisfy the minimum applicable
Tax Withholding Obligation. Such Shares will be sold on the day such Tax Withholding Obligation arises (e.g., a vesting date) or
as soon thereafter as practicable. The Grantee will be responsible for all broker’s fees and other costs of sale, and the
Grantee agrees to indemnify and hold the Company harmless from any losses, costs, damages, or expenses relating to any such sale.
To the extent the proceeds of such sale exceed the Grantee’s minimum Tax Withholding Obligation, the Company agrees to pay
such excess in cash to the Grantee. The Grantee acknowledges that the Company or its designee is under no obligation to arrange
for such sale at any particular price, and that the proceeds of any such sale may not be sufficient to satisfy the Grantee’s
minimum Tax Withholding Obligation. Accordingly, the Grantee agrees to pay to the Company or any Related
Entity as soon as practicable, including through additional payroll withholding, any amount of the Tax Withholding Obligation
that is not satisfied by the sale of Shares described above.

 

    	4

    	 

    
 

 

(iii)By Check, Wire Transfer or Other
Means. At any time not less than five (5) business days (or such fewer number of business days as determined by the Administrator)
before any Tax Withholding Obligation arises (e.g., a vesting date), the Grantee may elect to satisfy the Grantee’s Tax Withholding
Obligation by delivering to the Company an amount that the Company determines is sufficient to satisfy the Tax Withholding Obligation
by (x) wire transfer to such account as the Company may direct, (y) delivery of a certified check payable to the Company,
or (z) such other means as specified from time to time by the Administrator.

 

Notwithstanding the foregoing, the Company also may satisfy
any Tax Withholding Obligation by offsetting any amounts (including, but not limited to, salary, bonus and severance payments)
due to the Grantee by the Company.

 

7.Stop-Transfer Notices. In order
to ensure compliance with the restrictions on transfer set forth in this Agreement, the Notice or the Plan, the Company may issue
appropriate “stop transfer” instructions to its transfer agent, if any, and, if the Company transfers its own securities,
it may make appropriate notations to the same effect in its own records. The Company may issue a “stop transfer” instruction
if the Grantee fails to satisfy any Tax Withholding Obligations.

 

8.Refusal to Transfer. The Company
shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of
any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends
to any purchaser or other transferee to whom such Shares shall have been so transferred.

 

9.Restrictive Legends. The Grantee
understands and agrees that the Company shall notify the Company's transfer agent that the transfer of the Shares are subject to
the restrictions set forth herein. If the Shares are represented by certificates, the Company may cause the legends set forth below
or legends substantially equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the Shares together with
any other legends that may be required by the Company or by state or federal securities laws:

 

THE SHARES REPRESENTED BY THIS CERTIFICATE
ARE RESTRICTED BY THE TERMS OF A RESTRICTED STOCK AWARD AGREEMENT BETWEEN THE COMPANY AND THE NAMED STOCKHOLDER. THE SHARES REPRESENTED
BY THIS CERTIFICATE MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH SUCH AGREEMENT, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF
THE COMPANY.

 

10.Entire Agreement: Governing Law.
The Notice, the Plan and this Agreement constitute the entire agreement of the parties with respect to the subject matter hereof
and supersede in their entirety all prior undertakings and agreements of the Company and the Grantee with respect to the subject
matter hereof, and may not be modified adversely to the Grantee’s interest except by means of a writing signed by the Company
and the Grantee. These agreements are to be construed in accordance with and governed by the internal laws of the State of Florida
without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the
internal laws of the State of Florida to the rights and duties of the parties. Should any provision of the Notice or this Agreement
be determined to be illegal or unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable.

 

 

    	5

    	 

    

 

11.Construction. The captions
used in the Notice and this Agreement are inserted for convenience and shall not be deemed a part of the Award for construction
or interpretation. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include
the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise.

 

12.Administration and Interpretation.
Any question or dispute regarding the administration or interpretation of the Notice, the Plan or this Agreement shall be submitted
by the Grantee or by the Company to the Administrator. The resolution of such question or dispute by the Administrator shall be
final and binding on all persons.

 

13.Venue. The parties agree that
any suit, action, or proceeding arising out of or relating to the Notice, the Plan or this Agreement shall be brought in the United
States District Court for the Southern District of Florida (or should such court lack jurisdiction to hear such action, suit or
proceeding, in a Florida state court in the County of Miami-Dade and that the parties shall submit to the jurisdiction of such
court. The parties irrevocably waive, to the fullest extent permitted by law, any objection the party may have to the laying of
venue for any such suit, action or proceeding brought in such court. If any one or more provisions of this Section 13 shall
for any reason be held invalid or unenforceable, it is the specific intent of the parties that such provisions shall be modified
to the minimum extent necessary to make it or its application valid and enforceable.

 

14.Notices. Any notice required
or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery, upon deposit for
delivery by an internationally recognized express mail courier service or upon deposit in the United States mail by certified mail
(if the parties are within the United States), with postage and fees prepaid, addressed to the other party at its address as shown
in these instruments, or to such other address as such party may designate in writing from time to time to the other party.

 

END
OF AGREEMENT

    	6

    	 

    
 

EXHIBIT A

 

STOCK ASSIGNMENT SEPARATE FROM
CERTIFICATE

 

 

FOR VALUE RECEIVED,  hereby
sells, assigns and transfers unto _______________________, _________ (______) shares of the Common Stock of Protalix BioTherapeutics,
Inc., a Florida corporation (the “Company”), standing in his name on the books of, the Company represented by Certificate
No. ____________ herewith, and does hereby irrevocably constitute and appoint the Secretary of the Company attorney to transfer
the said stock in the books of the Company with full power of substitution.

 

DATED: ________________

 

_________________________________

 

[Please sign this document but do not date it. The date and
information of the transferee will be completed if and when the shares are assigned.]

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