Document:

Exhibit 10.11

 

AGREEMENT FOR PROVISION OF SERVICES

 

Drawn up and signed on 11 June 2015

 

between

 

L. & S. Light & Strong Ltd

Private Company 514030741

of Ha'adom Street, Kanot Industrial Area,
P.O. Box 7042

Gadera 707000

(hereinafter: "the company")

of the one part

 

and

 

Udi Pridan

I.D. 053556593

of 161 Arlozorov Street, Tel Aviv

(hereinafter: "the services provider")

of the other part

 

	Whereas	The company is a private company which is incorporated in Israel and wishes to list the company for trading on the stock exchange in the USA;
	 	 
	And whereas	The company wishes to receive consulting services on the communications aspect, in order to promote and market the company and its business activities, including in connection with promotion of capital raisings and location of potential investors for the company;
	 	 
	And whereas	The services provider has significant experience, inter alia in provision of advertising and communications consulting services and in public relations;
	 	 
	And whereas	The services provider wishes to provide the company with the services, as defined below, by means of this agreement, in accordance with the provisions of this agreement;
	 	 
	And whereas	The services provider declares that he has the professional knowledge, the expertise, the necessary experience, the ability and the necessary means to provide the services as defined below;
	 	 
	And whereas	 The parties wish to arrange their relations and to put them in writing, as set out in this agreement below;

 

      

     

    

 

Now therefore it has been stipulated,
declared and agreed between the parties as follows: 

 

		1.	Preamble

 

		1.1	The preamble to this agreement and the parties' declarations therein form an integral part thereof.

 

		1.2	The appendices to this agreement form an integral part of this agreement and have the status of terms
thereof. In the event of conflict, the provisions of this agreement shall prevail over the provisions of the appendices.

 

		1.3	This agreement has been divided into sections and appendices and headings have been given to the sections
of the agreement and its appendices for reasons of convenience only, and they are not to be used for interpretation purposes.

 

		2.	The contractual relations

 

		2.1	The company is hiring the services of the services provider as an independent contractor and the services
provider shall provide the company with the following services: advertising and communications consulting services, promotion of
capital raisings for the company and dealing with the company's public relations, including:

(a) communications assistance and
advice in all matters concerning the marketing of the company and its fields of activity; (b) preparation of presentations and
publications for potential investors (all jointly, hereinafter – "the services").

 

		2.2	The services to the company by the services provider shall be provided and performed by Udi Pridan
alone and this is a fundamental term of the agreement.

 

		3.	Scope of the services

 

			The services shall be provided to the company by the services provider as agreed with the CEO of the
company or anyone whom the CEO of the company authorizes in this regard, for the number of hours fixed by the company management
by arrangement in advance with the services provider.

 

		4.	Consideration

 

		4.1	In return for provision of the services and against fulfillment of all the services provider's undertakings
under this agreement, the company shall allocate the services provider 1.5% of the company's issued and paid-up capital
as at the date of signature of the agreement, that is to say 901,929 ordinary no par value shares in the company. The allocation
of the shares to the services provider under this sub-clause 4.1 shall take place within thirty days from the date of listing the
company for trading on the stock exchange in the USA.

 

      

     

    

 

		4.2	In addition to allocation of the shares as set out in clause 4.1 above, subject to the following terms
the company undertakes to allocate the services provider up to a further 2% of the company's issued and paid-up capital after the
capital raising:

 

		4.2.1	The services provider shall take action to raise capital for the company in the sum of two (2) million
US dollars, to locate potential investors and to conduct negotiations with them (hereinafter: "the capital raising").

 

		4.2.2	The management and marketing of the aforesaid capital raising, headed by the services provider, shall
be carried out on the basis of a company value of 14 million dollars before the funds and before the listing of the company for
trading on the stock exchange in the USA.

 

		4.2.3	In return for such capital raising, the company shall allocate the services provider up to a further
2% of the company's issued and paid-up capital after the abovementioned capital raising under sub-clause 4.2, pro rata to the amount
of capital which is actually raised from investors who invested in the company as a result of or in connection with the provision
of the services. (For example: in a capital raising of 2 million US dollars the company shall allocate the services provider 2%
of the company's issued and paid-up capital as at the date of the allocation, but if the capital raising amounts to 1 million dollars,
the company shall allocate the services provider shares pro rata to the capital raised through him, that is to say, the company
shall allocate 1% of the company's issued and paid-up capital as at the date of the allocation. It is clarified that the example
is only meant to illustrate the method of calculating the pro rata consideration and does not fix the terms of the capital raising).

 

		4.2.4	Allocation of the shares to the services provider under sub-clause 4.2 shall take place within 30
days after completion of the capital raising and signature of a binding agreement with the new investors.

 

		4.3	Allocation of the shares to the services provider under clause 4 shall take place against a tax invoice,
which shall be issued to the company on behalf of the services provider.

 

		4.4	The shares shall be granted in accordance with and subject to authorizations and authorizations under
the law.

 

		4.5	The parties agree that the consideration in clause 4.1 and 4.2 above constitutes full consideration
for provision of the services.

 

      

     

    

 

		4.6	The parties agree that, apart from the consideration mentioned in this clause, the services provider
shall not be entitled to receive any benefit and/or fee and/or additional remuneration of any kind from the company and/or from
any third party for provision of the services which are the subject of this agreement.

 

		4.7	The services provider declares and confirms that from the consideration set out in this clause above
the company shall deduct any tax necessitated by the provisions of any law or in accordance with the provisions of a certificate
in respect of exemption from withholding tax from the tax authorities which instructs otherwise, if such a certificate is forwarded
to the company by the services provider.

 

		4.8	The services provider undertakes to furnish the company with an invoice in connection with the above
consideration and the company shall pay the services provider the VAT amount stated in the invoice in cash. The services provider
also undertakes to furnish the company with an exemption from withholding tax. If the services provider does not furnish such an
exemption the company may deduct withholding tax.

 

		5.	The services provider's undertakings

 

			Without derogating from the other provisions of this agreement the services provider undertakes, confirms
and declares as follows:

 

		5.1	That the services provider has the necessary qualifications, ability and experience to provide the
services to the company.

 

		5.2	That the services provider shall be permitted, during the period of existence of this agreement, to
provide services to any third party and to engage in any activity, provided that this does not affect his undertakings to the company
under the provisions of this agreement and does not create a conflict of interests with the services provided to the company.

 

		5.3	That the services provider shall refuse to accept and shall not accept any payment and/or other benefit
from any third party in connection with provision of the services to the company, including from investors and/or customers and/or
suppliers of the company, whether directly or indirectly, except the consideration in this agreement. It is clarified that the
company shall be entitled to any profit or benefits or rights derived in such circumstances. The aforesaid shall not apply to any
of the services provider's clients in connection with his other activities which are not related to provision of the services to
the company.

 

		5.4	That the services provider shall provide the services to the company with maximum consideration, honestly,
loyally and with dedication, making full use of his qualifications, ability, experience and knowledge for the benefit and advancement
of the company.

 

      

     

    

 

		5.5	That the services provider shall inform the company, immediately and without any delay, of any matter
and/or subject in which he has a personal interest and/or which may create a conflict of interests with the provision of the services
to the company under this agreement.

 

		5.6	That the services provider shall safeguard the company's equipment which is in his hands or in his
possession, including the good order of the company's equipment, whether it was given to him by the company or came into his hands
in another manner, including company equipment which was invented, prepared or assembled by him, and shall refrain from removing
company equipment from the company or from its offices /warehouses, except with the company's authorization and in accordance with
the procedures laid down by it, as they shall be varied from time to time, and shall return any such equipment immediately after
use and immediately upon demand by the company management.

 

		5.7	That he shall act in accordance with the provisions of any law and statute regarding provision of
the services as stated in this agreement.

 

		5.8	That he does not have any handicap preventing him from providing the services to the company under
this agreement.

 

		5.9	That he does not have any criminal past and/or criminal record at the Israel Police and as far as
he knows there is no claim and/or case and/or investigation by the police or another statutory authority against him and there
is no reason for any such proceeding to be lodged/ opened/ conducted against him.

 

		5.10	The company shall not bear the services provider's financial liability in connection with any activity
connected with the services, unless it authorized it in advance and in writing.

 

		5.11	The services provider shall not give, confirm or carry out any undertaking in the name of the company
and/or for it, and his undertakings and/or actions vis-à-vis any third party shall not bind the company in any way.

 

		5.12	The provisions of this clause 5 are fundamental and go to the root of this agreement. Accordingly,
the services provider undertakes to indemnify the company for any damage and/or expense caused to it as a result of his breach
of his undertakings and declarations in this clause 5.

 

		6.	Declarations and undertakings

 

			Each party declares that there is no legal and/or contractual and/or other impediment to it entering
into this agreement.

 

      

     

    

 

		7.	The services provider's status

 

		7.1	Without derogating from the other provisions of this agreement, the parties agree that the services
provider serves as an independent contractor for all purposes and that no employer-employee relations in any form or manner exist
or will exist between the parties and that the parties will not be entitled to any payment and/or consideration and/or any right
due to an employee from his employer by law and/or practice and/or custom, from each other.

			

 

		7.3	Clause 7 above, with all its sub-clauses, is an essential and fundamental term of the agreement.

 

		8.	The agreement period and termination thereof 

 

		8.1	This agreement is for an indefinite period of time, commencing on the date of the approval by the
board of directors of the company (as set out in clause 11 below), in accordance with the provisions of the Companies Law, 5759-1999
(hereinafter: "the Companies Law").

 

		8.2	Notwithstanding the provisions of clause 8.1 above, each party may bring this agreement to an end
by at least 60 days' advance written notice to the other party, and this shall not be deemed to be breach of the agreement (hereinafter:
"advance notice" and "the advance notice period" respectively).

 

		8.3	During the advance notice period the services provider shall continue to provide the services to the
company, unless otherwise agreed between the parties.

 

		8.4	In addition, and without derogating from any other provision of this agreement, the company shall
have the right to cancel this agreement immediately and at any time for any of the reasons specified below: (a) If the services
provider has breached any of his undertakings under this agreement and the breach has not been remedied within fourteen (14) days
of receipt of written notice from the company to the services provider of such breach; (b) The services provider has been convicted
in court of commission of a criminal offence relating to provision of the services to the company or a criminal offence involving
moral turpitude; (c) The court has held that the services provider caused damage to the company maliciously or with gross negligence;
(d) The services provider has lost his legal capacity and/or lost his working capacity for a period of more than 45 days.

 

		8.5	It is clarified that in any case where this agreement is canceled as aforesaid, the services provider
shall not be entitled to receive any consideration beyond the consideration to which the services provider has become entitled
under the provisions of this agreement before such cancellation thereof.

 

      

     

    

 

		8.6	The services provider shall be permitted to cancel the agreement immediately, without the need for
giving any advance notice, in each of the following cases: (a) The company has breached any of the provisions of this agreement
and the breach has not been remedied within 30 days of receipt of written notice from the services provider to the company of such
breach; (b) If the company has been wound up and/or an application for its winding up has been lodged and/or a resolution for its
winding up has been passed and/or an application has been lodged for the appointment of and/or there has been an appointment of
a temporary and/or permanent receiver for all and/or some of its assets and/or an attachment order has been imposed on any of its
assets (whether temporary or permanent) and the Execution Office has taken action against all or some of its assets.

 

		8.7	The services provider may not demand and/or receive any amount of compensation for termination of
provision of the services (except what is due to him in return for the services during the period of provision of the services),
including for injury to reputation, loss of profits, losses, expenses (of any kind), etc.

 

		9.	Conflicting claim 

 

		9.1	It is agreed, by fundamental agreement going to the root of this contract, that the contractor's consideration
on which the company and the services provider have agreed in this agreement has been determined taking into account the fact that
the services provider is an independent contractor and does not serve as an "employee" of the company and that the company
will not have any additional costs in respect of his employment or termination of his employment, including any social benefits
(including annual leave, recuperation pay, national insurance charges, benefits, severance pay, continuing education fund, maintenance,
travelling expenses, board and lodging, payments for festivals, telephone expenses, entertainment, reserve duty, maternity leave,
vehicle expense, etc.), so that the consideration for the services, as agreed upon in this agreement, is the full, overall and
sole cost which the company will have in connection with receipt of the service provider's services and provision of the services
which he is providing to the company under this agreement as an independent contractor.

 

		9.2	If a court or other competent party holds, whether at the request of the services provider or at the
request of any other party, that the services provider provided his services to the company as an "employee", despite
the provisions of this agreement, the parties agree that the determining salary for the purpose of any law (such as severance pay,
leave, advance notice) shall be in a sum equal to 60% of the consideration actually paid to him by the company, whereas the remaining
40% of the consideration shall be deemed to be payment made to the services provider on account of severance pay, leave pay, sick
pay, recuperation pay and national insurance.

 

      

     

    

 

		9.3	The aforesaid shall not derogate from any other relief and/or remedy available to the company under
this agreement and/or by law.

 

		10.	Taxation

 

		10.1	It is hereby clarified that any taxable event which occurs as a result of allocation of shares in
the company to the services provider in accordance with the provisions of this agreement and fulfillment of any of the obligations
imposed in connection with the allocation of the shares shall be borne by the services provider alone.

 

		10.2	The services provider declares that he is aware that the allocation of the shares under the provisions
of this agreement may lead to the imposition of tax liability on the services provider. The services provider hereby confirms that
he is aware that he must consult a tax adviser in this matter, with regard to the tax liabilities which he may incur in respect
of this agreement and/or the implementation of any of its provisions, including in connection with allocation of shares in the
company. The aforesaid does not constitute an opinion and/or recommendation to the services provider and/or an exhaustive discussion
of the tax aspect of the allocation of the shares. 

 

		11.	Suspensive condition

 

			The coming into effect of the agreement, including the allocation of the shares, is conditional upon
receipt of the approval of the competent organs of the company which are required to approve it under the Companies Law, including
the board of directors of the company, and, if necessary, the approval of the general meeting with the majority required for this
under the law (hereinafter: "the determining date").

 

		12.	Maintenance of confidentiality 

 

		12.1	At the time of signature of this agreement the services provider shall sign a letter of undertaking
to maintain confidentiality, which is attached as Appendix A to this agreement and forms an integral part thereof.
In addition, the parties undertake to keep the details of this agreement and any detail concerning the terms of his employment
confidential and not to disclose them to anyone, unless there is a legal duty to do so. The aforesaid maintenance of confidentiality
is for the period of provision of the services by the services provider and also for an unlimited period after conclusion of provision
of the services.

 

		12.2	The provisions of this clause 12 are fundamental and go to the root of the contractual relations
                                                              between the parties which are the subject of this agreement.

 

      

     

    

 

		13.	Property

 

		13.1	Plans, opinions, ideas, trademarks, patents and intellectual property rights, etc, which are developed
and/or prepared by the services provider for the company and/or for any or its customers shall at all times be the sole and absolute
property and possession of the company and he shall not be entitled to any payment and/or remuneration and/or compensation for
any of them, except the consideration fixed in this agreement.

 

		13.2	Without derogating from the services provider's other undertakings, the services provider hereby undertakes
to hand over to the company all the documentation in his possession regarding the provision of the services by him to the company,
including, but not limited to, the original plans, the original software and all the documents, information, databases, explanations
and all other information, whether in writing or in digital and/or analog form or in verbal form or in any other form under the
provisions of this agreement, whenever called upon and immediately upon being called upon to do so.

 

		13.3	The company is permitted at any time, in its sole and absolute discretion, to use the material and/or
any knowledge, document, software, database, plan and other similar details provided by the services provider, and the company
may publish and/or give all or some of the material to anyone it sees fit, in its sole discretion, in any manner and without having
to obtain any consent from the services provider.

 

		13.4	The services provider undertakes that any knowledge, document, object, information etc. which by their
nature are not common property, which have reached the services provider as a result of and/or in connection with the provision
of the services provider's services, will not be issued and/or transferred and/or handed over to any third party and/or to the
public domain, including any part thereof and/or right thereunder and/or any benefit.

 

		14.	Professional liability and claims 

 

		14.1	The services provider undertakes, by a fundamental undertaking which goes to the root of this agreement,
to inform the company immediately and in writing of the occurrence of an event as a consequence of which there is a suspicion that
a claim will be lodged against the services provider and/or the company on account of negligence and/or an omission and/or an act
in connection with the provision of the services to the company.

 

		14.2	In addition, the services provider undertakes to inform the company in writing of any claim and/or
demand and/or letter and/or complaint which is lodged against him as a result of his activities as the services provider, immediately
and without delay. In his aforesaid notice the services provider shall set out all the details of the incident and shall furnish
the company with the relevant documents, so that the company may consider the continued provision of the services by the services
provider to the company in the light of the incident.

 

      

     

    

 

		14.3	The services provider undertakes to
indemnify the company for any damage and/or expense caused to it in connection with and/or as a result of what is stated in this
clause 14.

 

		14.4	In addition, and without derogating from any other provision of this agreement, including clause 14.3
above, the company shall have the right to cancel this agreement forthwith immediately upon the occurrence of any of the events
mentioned in this clause 14 above.

 

		14.5	Notwithstanding the aforesaid, the company undertakes to indemnify the services provider for any damage,
loss or expense caused to the services provider as a result of provision of misleading information by the company to the services
provider, maliciously or intentionally.

 

		15.	Lack of rights 

 

			On the date of termination of provision of the services by the services provider, the services provider
undertakes to hand over and/or return to the company all the documents and all the information (as it appears in documents, disks
and/or any other storage platforms) which he has in connection with provision of his services to the company, and not to take with
him any documents or information relating to the said rights and the provision of his services to the company.

 

		16.	Miscellaneous

 

		16.1	This agreement formulates all that has been agreed upon between the services provider and the company.
Upon signature of this agreement all agreements, understandings and letters of undertaking exchanged between the parties before
signature thereof, if any, shall be null and void.

 

		16.2	The provisions of this agreement do not limit the company's right to contract with various other parties
for provision of the services, and such contract shall not constitute breach of this agreement in any instance.

 

		16.3	The provisions of the agreements and arrangements applicable to the company employees and the terms
of employment of the salaried employees of the company and the terms applicable to other contractors at the company (if any) shall
not apply to the relations between the company and the services provider.

 

		16.4	No conduct by either of the parties shall be deemed to be waiver of any of its rights under this agreement
and/or under any law, or as waiver and acquiescence by it to any breach or non-fulfillment of a term of the agreement by the other
party or as granting a postponement or extension or as an alteration, cancellation or addition to any term, unless made expressly
and in writing.

 

      

     

    

 

		16.5	Any alteration, addition or amendment to this agreement shall be made in writing and shall only be
binding after signature thereof by both parties.

 

		16.6	The competent court in the city of Tel Aviv is hereby granted sole and exclusive jurisdiction to hear
any dispute arising in connection with this agreement and/or provision of the services under this agreement.

 

		17.	Addresses and notices

 

		17.1	The parties' addresses for the purpose of this agreement are as set out in the preamble to this agreement
or any other address of one of the parties of which it gives notice in writing to all the other parties.

 

		17.2	Any notice sent by one party to another shall be sent in writing by registered post according to the
addresses which appear in the preamble to this agreement and/or by delivery by hand. A notice given by post shall be deemed to
have been received within 72 hours from the date of sending it by registered post at a post office in Israel. A notice delivered
by hand shall be deemed to have been received immediately upon delivery. For the purpose of this clause Saturdays and Jewish holidays
shall not be taken into account.

 

 

In witness whereof the parties have signed

 

	(signature and company stamp)	 	(signature)
	The Company	 	The Services Provider 

 

      

     

    

 

Appendix A

 

11 June 2015

To

L. & S. Light and Strong

(hereinafter: "the company")

 

Dear Sir/Madam

 

Re: Undertaking to maintain confidentiality

 

I refer to the agreement for provision of
services which I entered into with the company on 11 June 2015 (hereinafter: "the agreement"), as part of which
I have in the past been exposed to and will in the future be exposed to information about the company, including confidential information,
as defined below. Therefore, and as you wish to ensure that such confidential information will not be disclosed to any third party,
except to my employees and/or others acting by my authority and/or on my behalf (hereinafter: "third party") and
will not be used for any purpose except provision of the services to the company (as defined in the agreement), I hereby undertake
the following towards you:

 

"confidential
information" - Any information relating to the company and its activities which has been and/or will be conveyed to
us, whether in writing or verbally, and any material, knowledge or other information in connection with the company (hereinafter
jointly: "the information"), provided that the information reached us and/or anyone on our behalf from the company
and/or anyone on its behalf, whether verbal or in writing, except information which is common knowledge or information which has
become common knowledge or which was known to us before it was given to us by the company or anyone on its behalf or which reached
us or will reach us from third parties, other than as a result of breach of our undertakings towards you under this letter of undertaking.

 

		2.	To keep fully and absolutely confidential and not to convey, disclose, publish or describe to a third
party the confidential information, in whole or in part, unless I receive your advance written authorization to do so, and on the
conditions which you will specify.

 

		3.	To keep confidential the very existence of the confidential information, except as required by law
and in coordination with you.

 

		4.	Not to copy, photocopy, duplicate, print, publish or make use of the confidential information in any
manner, and/or not to allow a third party to do so, unless we have received express authorization from you in advance and in writing
to do so.

 

      

     

    

 

		5.	Without derogating from the generality of the aforesaid, I undertake not to convey, disclose, publish
or describe the confidential information without your advance written consent, to a third party, except my employees and/or parties
acting by my authority and/or on my behalf who require the confidential information for the purpose for which the confidential
information was conveyed to us, as aforesaid, and on condition that they shall expressly and in advance undertake to maintain full
confidentiality of the confidential information, in accordance with the contents of this letter.

 

			To remove doubt it is emphasized that non-compliance with any of the abovementioned terms by any of
my employees and/or parties acting by my authority and/or on my behalf shall not release me from my undertakings and obligations
under this undertaking to maintain confidentiality.

 

		6.	To be extremely strict in maintaining the confidentiality of the confidential information, and to
take the necessary precautions to avoid the possibility of the confidential information leaving my possession and reaching a third
party.

 

		7.	Subject to the provisions of any law, and if I am required by any law to furnish the confidential
information and/or any part thereof, directly or indirectly, I shall inform you thereof immediately and in writing, if possible
before furnishing any information as aforesaid, and if this is not possible by law, as soon as possible after furnishing it. In
addition, subject to the provisions of any law, I undertake that in the aforesaid circumstances I will do my best to leave you
a reasonable and adequate opportunity to defend yourselves against such a demand.

 

		8.	You shall be entitled to claim any legal remedy available to you under any law against me in the event
of breach of any of my aforesaid undertakings, whether by me or by any of my employees and/or parties acting by my authority and/or
on my behalf, including a claim for a restraining order, mandatory injunction or Anton Piller order.

 

		9.	I hereby declare that I am aware that you are giving and/or will give me the confidential information
in reliance on my aforesaid undertakings and I undertake that those undertakings will remain in full force for an unlimited time,
unless in the interim the aforesaid information has ceased to be confidential other than as a result of my breach of this agreement.

 

		10.	No waiver, delay, failure to take action or grant of an extension by you shall be interpreted as a
waiver by you, jointly and/or severally, of your rights under this undertaking to maintain confidentiality or under any law, and
you shall not be precluded from taking any legal and other steps necessary in order to exercise your rights.

 

		11.	During the entire period of my activities I undertake to avoid any situation of conflict between my
interests and the company's interests, in my dealings with suppliers, customers, public authorities and any other body or person
who deals with or wishes to deal with the company, and in the conduct of my personal affairs.
	 	 	 

		12.	Any alteration of and/or deviation from any of the provisions of this undertaking to maintain confidentiality
shall not be valid unless specified in writing and in advance and signed by the parties.

 

      

     

    

 

		13.	If I am required by law to furnish the confidential information, and/or any part thereof, I undertake
to inform you thereof immediately and in writing, to enable you to consider embarking upon appropriate legal proceedings and/or
waiver of the application of this document to the information required. If you do not succeed in such proceedings, I undertake
to furnish, as aforesaid, only that part of the confidential information required under any law, and to do my best to ensure that
the information is kept confidential.

 

		14.	Without derogating from the aforesaid, I undertake that during my work at the company and for a period
of 24 months after the conclusion of my work at the company, not to attempt to persuade employees and/or others engaged by the
company and/or customers and/or suppliers of the company to terminate their association with the company, and not to employ or
contract with any of the company's employees.

 

		15.	I agree and confirm that all the rights of any kind, whether proprietary or other, in the ideas and/or
work methods and/or software and/or products and/or patents and/or developments and/or improvements and/or processes and/or techniques
(jointly "inventions") which I develop while working for the company and/or in which I take part and/or in the development
of which I am involved shall belong to the company alone, and I shall not have any rights in them, and I shall be prohibited from
making any use of them, whether during the period of my work at the company or afterwards. The aforesaid shall not derogate from
any other undertaking by me in favour of the company on the aforesaid subjects. To remove doubt, I hereby assign to the company
or to whomever it instructs, any right, including moral right and economic right, which I have or shall have in the inventions.

 

		16.	I confirm that the provisions of this undertaking are intended to supplement one another and not to
derogate from one another, and they are intended to supplement my obligations under any law.

 

		17.	I hereby confirm that I have read this letter of undertaking carefully and have understood its contents
and the significance of my undertakings under it, and I give these undertakings of my own free will and with the awareness and
understanding that each of my above undertakings is fundamental to the company's contract with me and that it is essential for
the protection of the legitimate interests and property of the company.

 

	Yours faithfully	 
	(signed)	 
	Udi PridanExhibit 10.1

 

Director and Officer Indemnification
Agreement

 

THIS INDEMNIFICATION
AGREEMENT (the “Agreement”) is made as of this 2nd day of September, 2015, between
Cynapsus Therapeutics Inc. (the “Corporation”), a corporation amalgamated under the Canada Business
Corporations Act and ___________ (the “Indemnified Party”).

 

RECITALS:

 

A.The Board of Directors
of the Corporation (the “Board”) has determined that the Corporation should act to assure the Indemnified Party
of reasonable protection through indemnification against certain risks arising out of service to, and activities on behalf of,
the Corporation to the extent permitted by law and the Corporation’s by-laws.

 

NOW THEREFORE the parties agree
as follows:

 

1.Indemnification.
The Corporation will indemnify and save harmless the Indemnified Party and the heirs and legal representatives of the Indemnified
Party to the fullest extent permitted by applicable law:

 

1.1from
and against all Expenses (as defined below) reasonably sustained or incurred by the Indemnified Party in respect of any civil,
criminal, administrative, investigative or other Proceeding (as defined below), whether or not brought by the Corporation, to which
the Indemnified Party is made a party by reason of being or having been a director or officer of the Corporation except for any
Expense attributable to the Indemnified Party’s not having acted honestly and in good faith with a view to the best interests
of the Corporation and, in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty,
the Indemnified Party’s not having had reasonable grounds for believing that his or her conduct was lawful; and

 

1.2from
and against all Expenses reasonably sustained or incurred by the Indemnified Party as a result of serving as a director or officer
of the Corporation in respect of any act, matter, deed or thing whatsoever made, done, committed, permitted or acquiesced in by
the Indemnified Party as a director or officer of the Corporation, whether before or after the effective date of this Agreement
and whether or not related to a Proceeding brought by the Corporation.

 

Subject to applicable
law, this indemnity will apply without reduction regardless of whether the Indemnified Party committed any fault or omitted to
do anything that the Indemnified Party ought to have done. This indemnity will not apply to (a) claims initiated by the Indemnified
Party against the Corporation or any subsidiary except for claims relating to the enforcement of this Agreement, and (b) claims
by the Corporation for the forfeiture and recovery by the Corporation of compensation, including bonuses, received by the Indemnified
Party from the Corporation due to the Indemnified Party's violation of applicable securities or other laws. To the extent
prior court or other approval is required in connection with any indemnification obligation of the Corporation hereunder, the Corporation
will seek and use all reasonable efforts to obtain that approval as soon as reasonably possible in the circumstances.

 

“Expenses”
means all costs, charges, damages, awards, settlements, liabilities, fines, penalties, statutory obligations, professional fees
and other expenses of whatever nature or kind, provided that any costs, expenses and professional fees included as Expenses hereunder
shall be reasonable.

 

“Proceeding”
will include a claim, demand, suit, proceeding, complaint, inquiry, hearing, discovery or investigation, of whatever nature or
kind, whether anticipated, threatened, pending, commenced, continuing or completed, and any appeal or appeals therefrom.

 

The indemnities in this
Agreement also apply to an Indemnified Party in respect of his or her service at the Corporation’s request as (a) an officer
or director of another corporation or (b) a similar role with another entity, including a partnership, trust, joint venture or
other unincorporated entity.

 

     

    	 	- 2 -	 

    

 

The foregoing indemnities
will not apply to any Proceeding initiated by the Indemnified Party against (a) the Corporation unless it is brought to establish
or enforce any right under this Agreement; or (b) any other person or entity unless the Corporation or other party described in
the previous paragraph has joined with the Indemnified Party in or consented to the initiation of that Proceeding.

 

2.Presumptions/Knowledge

 

2.1For
purposes of any determination hereunder the Indemnified Party will be deemed, subject to compelling evidence to the contrary, to
have acted in good faith and/or in the best interests of the Corporation. The Corporation will have the burden of establishing
the absence of good faith. 

 

2.2The
knowledge and/or actions, or failure to act, of any other director, officer, agent or employee of the Corporation or any other
entity will not be imputed to the Indemnified Party for purposes of determining the right to indemnification under this Agreement.

 

2.3The
Corporation will have the burden of establishing that any Expense it wishes to challenge is not reasonable.

 

3.Notice
by Indemnified Party. As soon as is practicable, upon the Indemnified Party becoming aware of any Proceeding which may
give rise to indemnification under this Agreement other than a Proceeding commenced by the Corporation, the Indemnified Party will
give written notice to the Corporation. Failure to give notice in a timely fashion will not disentitle the Indemnified Party to
indemnification.

 

4.Investigation
by Corporation. The Corporation may conduct any investigation it considers appropriate of any Proceeding of which it receives
notice under Section 3, and will pay all costs of that investigation. Upon receipt of reasonable notice from the Corporation,
the Indemnified Party will, acting reasonably, co-operate fully with the investigation provided that the Indemnified Party will
not be required to provide assistance that would materially prejudice: (a) his or her defence; (b) his or her ability
to fulfill his or her business obligations; or (c) conduct his or her business and/or personal affairs. The Indemnified Party
will, for the period of time that he/she cooperates with the Corporation with respect to an investigation, be compensated by the
Corporation at the rate of $1,500 per day (or partial day) plus reasonable out-of-pocket Expenses actually incurred provided that
the Indemnified Party will not be entitled to the per diem if he/she is employed as an officer of the Corporation when co-operation
is sought.

 

5.Payment
for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that the Indemnified Party
is, by reason of the fact that the Indemnified Party is or was a director or officer of the Corporation or of another entity at
the Corporation's request, a witness or participant other than as a named party in a Proceeding, the Corporation will pay to the
Indemnified Party all out-of-pocket Expenses actually and reasonably incurred by the Indemnified Party or on the Indemnified Party’s
behalf in connection therewith. The Indemnified Party will also be compensated by the Corporation at the rate of $1,500 per day
(or partial day) provided that the Indemnified Party will not be entitled to the per diem if he/she is employed as an officer of
the Corporation when co-operation is sought.

 

6.Expense
Advances. The Corporation will, upon request by the Indemnified Party, make advances ("Expense Advances")
to the Indemnified Party of all amounts for which the Indemnified Party seeks indemnification under this Agreement before the final
disposition of the relevant Proceeding. Expense Advances include anticipated Expenses. In connection with such requests, the Indemnified
Party will provide the Corporation with a written affirmation of the Indemnified Party's good faith belief that the Indemnified
Party is legally entitled to indemnification, along with sufficient particulars of the Expenses to be covered by the proposed Expense
Advance to enable the Corporation to make an assessment of its reasonableness. The Indemnified Party's entitlement to such Expense
Advance will include those Expenses incurred in connection with any Proceeding by the Indemnified Party against the Corporation
seeking an adjudication or award pursuant to this Agreement. The Corporation will make payment to the Indemnified Party within
10 days after the Corporation has received the foregoing information from the Indemnified Party. All Expenses for which indemnification
is sought must be reasonable and Expense Advances must relate to Expenses anticipated within a reasonable time of the request.

 

     

    	 	- 3 -	 

    

 

The Indemnified Party will repay to the
Corporation all Expense Advances not actually required, and all Expense Advances if and to the extent that it is finally determined
by a court of competent jurisdiction that the Indemnified Party is not entitled to indemnification under this Agreement. If requested
by the Corporation, the Indemnified Party will provide a written undertaking to the Corporation confirming the Indemnified Party's
obligations under the preceding sentence as a condition to receiving an Expense Advance.

 

7.Indemnification
Payments. The Corporation will pay to the Indemnified Party any amounts to which the Indemnified Party is entitled hereunder
promptly upon the Indemnified Party providing the Corporation with reasonable details of the claim. The Corporation will, forthwith
after any request for payment to or for an Indemnified Party, seek any court approval that may be required to permit payment. The
Corporation will not be required to pay any amounts under this section to an Indemnified Party if a court of competent jurisdiction
has finally determined that that Indemnified Party is not entitled to indemnification.

 

8.Right
to Independent Legal Counsel. If the Indemnified Party is named as a party or a witness to any Proceeding, or the Indemnified
Party is questioned or any of his or her actions, omissions or activities are in any way investigated, reviewed or examined in
connection with or in anticipation of any actual or potential, to any Proceeding, the Indemnified Party will be entitled to retain
independent legal counsel at the Corporation’s expense to act on the Indemnified Party’s behalf to provide an initial
assessment to the Indemnified Party of the appropriate course of action for the Indemnified Party. The Indemnified Party will be
entitled to continued representation by independent counsel at the Corporation’s expense beyond the initial assessment unless
the parties agree that there is no conflict of interest between the Corporation and the Indemnified Party that necessitates independent
representation. 

 

9.Settlement.
The parties will act reasonably in pursuing the settlement of any Proceeding. The Corporation may not negotiate or effect a settlement
of claims against the Indemnified Party without the consent of the Indemnified Party, acting reasonably. The Indemnified Party
may negotiate and effect a settlement without the consent of the Corporation but the Corporation will not be liable for any settlement
negotiated without its prior written consent, which consent will not be unreasonably withheld.

 

10.Directors’
& Officers’ Insurance. The Corporation will ensure that its liabilities under this Agreement, and the potential
liabilities of Indemnified Parties that are subject to indemnification by the Corporation pursuant to this Agreement, are at all
times supported by a directors’ and officers’ liability insurance policy that has been approved by the Board. In the
event the Corporation is sold or enters into any business combination as a result of which the directors' and officers' liability
insurance policy is terminated and not replaced with a substantially similar policy equally applicable to the Indemnified Party,
the Corporation will cause run off "tail" insurance to be purchased for the benefit of the Indemnified Party with substantially
the same coverage for the balance of the 6-year term set out in Section 16 without any gap in coverage. The Corporation will provide
to the Indemnified Party a copy of each policy of insurance providing the coverages contemplated by this Section promptly
after coverage is obtained, and will promptly notify the Indemnified Party if the insurer cancels, makes material changes to coverage
or refuses to renew coverage (or any part of the coverage).

 

     

    	 	- 4 -	 

    

 

11.Arbitration.
All disputes, disagreements, controversies or claims arising out of or relating to this Agreement, including, without limitation,
with respect to its formation, execution, validity, application, interpretation, performance, breach, termination or enforcement
will be determined by arbitration before a single arbitrator under the Arbitration Act, 1991 (Ontario). The arbitrator will
determine, based on the outcome of the arbitration, the breakdown between the Corporation and the Indemnified Party of the costs
for conducting the arbitration.

 

12.Tax
Adjustment. Should any payment made pursuant to this Agreement, including the payment of insurance premiums or any payment
made by an insurer under an insurance policy, be deemed to constitute a taxable benefit or otherwise be or become subject to any
tax or levy, then the Corporation will pay any amount necessary to ensure that the amount received by or on behalf of the Indemnified
Party, after the payment of or withholding for tax, fully reimburses the Indemnified Party for the actual cost, expense or liability
incurred by or on behalf of the Indemnified Party.

 

13.Cost
of Living Adjustment. The $1,500 per diem payable pursuant to Sections 4 and 5 will be adjusted to reflect changes from
August 1, 2015 in the All-items Cost of Living Index for Toronto prepared by Statistics Canada or any successor index or government
agency.

 

14.Governing
Law. This Agreement will be governed by the laws of the Province of Ontario and the federal laws of Canada applicable therein.

 

15.Priority
and Term. This Agreement will supersede any previous agreement between the Corporation and the Indemnified Party dealing
with this subject matter, and will be deemed to be effective as of the date on which the Indemnified Party first became a director
or officer of the Corporation.

 

16.Survival.
The obligations of the Corporation under this Agreement, other than Section 10, will continue until the later of (a) 15 years
after the Indemnified Party ceases to be a director or officer of the Corporation or any other entity in which he serves in
a similar capacity at the request of the Corporation and (b) one year after the final termination of all Proceedings with respect
to which the Indemnified Party is entitled to claim indemnification hereunder. The obligations of the Corporation under Section
10 of this Agreement will continue for 6 years after the Indemnified Party ceases to be a director of the Corporation or any other
entity in which he serves in a similar capacity at the request of the Corporation.

 

17.Severability.If
any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule or law, or public
policy, all other conditions and provisions of this Agreement will nevertheless remain in full force and effect so long as the
economic or legal substance of this Agreement is not affected in any manner materially adverse to either party. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto will negotiate in good
faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner
to the end that the provisions of this Agreement are fulfilled to the fullest extent possible.

 

18.Binding
Effect; Successors and Assigns. This Agreement shall bind and enure to the benefit of the successors, heirs, executors,
personal and legal representatives and permitted assigns of the parties hereto, including any direct or indirect successor by purchase,
merger, consolidation or otherwise to all or substantially all of the business or assets of the Corporation. The Corporation shall
require and cause any successor (whether direct or indirect, and whether by purchase, merger, consolidation or otherwise) to all
or substantially all of the business or assets of the Corporation, by written agreement in form and substance reasonably satisfactory
to the Indemnified Party, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that
the Corporation would be required to perform if no such succession had taken place. Subject to the requirements of this Section
18, this Agreement may be assigned by the Corporation to any successor (whether direct or indirect, and whether by purchase, merger,
consolidation or otherwise) to all or substantially all of the business or assets of the Corporation. This Agreement may not be
assigned by the Indemnified Party.

 

     

    	 	- 5 -	 

    

 

19.Covenant.
The Corporation hereby covenants and agrees that it will not take any action, including, without limitation, the enacting, amending
or repealing of any by-law, which would in any manner adversely affect or prevent the Corporation's ability to perform its obligations
under this Agreement.

 

20.Parties
to Provide Information and Co-operate. The Corporation and the Indemnified Party shall from time to time provide such information
and co-operate with the other as the other may reasonably request in respect of all matters under the Agreement.

 

21.Execution
and Counterparts. This Agreement may be executed and delivered in any number of counterparts, each of which when executed
and delivered is an original but all of which taken together constitute one and the same instrument. This Agreement may be executed
and delivered by facsimile transmission or PDF and each of the parties hereto may rely on such facsimile signature of PDF as though
that facsimile signature or PDF were an original hand-written signature.

 

IN WITNESS WHEREOF the parties hereto have executed this
Agreement.

 

 

	 	 	CYNAPSUS THERAPEUTICS INC. 
	 	 	 	 
	 	 	 	 
	 	 	Per:	 
	 	 	 	Authorized Signing Officer
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Witness Signature	 	 	*
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Witness Name

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