Document:

Blueprint

 

Exhibit 10.4

 

BLOCKCHAIN INDUSTRIES, INC.

 

CONSULTING AGREEMENT

 

This
Consulting Agreement (this “Agreement”)
is made and entered into as of March 12th
2018
(the “Effective
Date”)
by and between Blockchain Industries, Inc., a Nevada corporation
with its principal place of business at 53 Calle Palmeras, Suite
802, San Juan, PR 00901 (the “Company”),
and Kevin Hu (“Consultant”)
(each herein referred to individually as a
“Party,”
or collectively as the “Parties”).

 

WHEREAS, The Company desires to retain Consultant as an independent
contractor to perform the services of Director of Asset Allocation
for the Company, and Consultant is willing to perform such
services, on the terms described below.

 

NOW THEREFORE, in consideration of the mutual promises contained
herein, the Parties agree as follows:

 

1. Services
and Compensation

 

Consultant
shall perform the services described in 
Exhibit A (the
“Services”)
for the Company (or its designee), and the Company agrees to pay
Consultant the compensation described in 
Exhibit A, and
no other compensation, for Consultant’s performance of the
Services.

 

2. Applicability
to Past Activities

 

Consultant
agrees that if and to the extent that Consultant provided any
services or made efforts on behalf of or for the benefit of
Company, or related to the current or prospective business of
Company in anticipation of Consultant’s involvement with the
Company, that would have been “Services” if performed
during the term of this Agreement (the “Prior
Consulting Period”)
and to the extent that during the Prior Consulting Period:
(i) Consultant received access to any information from or on
behalf of Company that would have been “Confidential
Information” (as defined below) if Consultant received access
to such information during the term of this Agreement; or
(ii) Consultant conceived, created, authored, invented,
developed or reduced to practice any item (including any
intellectual property rights with respect thereto) on behalf of or
for the benefit of Company, or related to the current or
prospective business of Company in anticipation of
Consultant’s involvement with Company, that would have been
an “Invention” (as defined below) if conceived,
created, authored, invented, developed or reduced to practice
during the term of this Agreement; then any such information shall
be deemed “Confidential Information” hereunder and any
such item shall be deemed an “Invention” hereunder, and
this Agreement shall apply to such activities, information or item
as if disclosed, conceived, created, authored, invented, developed
or reduced to practice during the term of this Agreement.
Consultant further acknowledges that Consultant has been fully
compensated for all services provided during any such Prior
Consulting Period.

 

3. 
Confidentiality

 

A. Definition
of Confidential Information.
“Confidential
Information”
means any non-public information that relates to the actual or
anticipated business and/or products, research or development of
the Company, its
affiliates or subsidiaries, or to the Company’s, its
affiliates’ or subsidiaries’ technical data, trade
secrets, or know-how, including, but not limited to, research,
product plans, or other information regarding the Company’s,
its affiliates’ or subsidiaries’ products or services
and markets therefor, customer lists and customers (including, but
not limited to, customers of the Company on whom Consultant called
or with whom Consultant became acquainted during the term of this
Agreement), software, developments, inventions, processes,
methodologies, know-how, procedures, formulas, technology, designs,
drawings, engineering, hardware configuration information,
marketing, finances, and other business information disclosed by
the Company, its affiliates or subsidiaries, either directly or
indirectly, in writing, orally or by drawings or inspection of
premises, parts, equipment, or other property of Company, its
affiliates or subsidiaries. Notwithstanding the foregoing,
Confidential Information shall not include any such information
which Consultant can establish (i) was publicly known or made
generally available prior to the time of disclosure to Consultant;
(ii) becomes publicly known or made generally available after
disclosure to Consultant through no wrongful action or inaction of
Consultant; or (iii) is in the rightful possession of Consultant,
without confidentiality obligations, at the time of disclosure as
shown by Consultant’s then-contemporaneous written
records.

 

 

1

 

 

B. Nonuse
and Nondisclosure.
During
and after the term of this Agreement, Consultant will hold in the
strictest confidence, and take all reasonable and necessary
precautions to prevent any unauthorized use or disclosure of
Confidential Information, and Consultant will not (i) use the
Confidential Information for any purpose whatsoever other than as
necessary for the performance of the Services on behalf of the
Company, or (ii) disclose the Confidential Information to any
third party without the prior written consent of an authorized
representative of Company. Consultant may disclose Confidential
Information to the extent compelled by applicable law;

provided however,
prior to such disclosure, Consultant shall provide prior written
notice to Company and seek a protective order or such similar
confidential protection as may be available under applicable law.
Consultant agrees that no ownership of Confidential Information is
conveyed to the Consultant. Without limiting the foregoing,
Consultant shall not use or disclose any Company property,
intellectual property rights, trade secrets or other proprietary
know-how of the Company to invent, author, make, develop, design,
or otherwise enable others to invent, author, make, develop, or
design identical or substantially similar designs, processes,
formulas, or software, as those developed under this Agreement for
any third party. Consultant agrees that Consultant’s
obligations under this Section 3.B shall
continue after the termination of this
Agreement.

 

C. Other
Client Confidential Information.
Consultant
agrees that Consultant will not improperly use, disclose, or induce
the Company to use any proprietary information or trade secrets of
any former or concurrent employer of Consultant or other person or
entity with which Consultant has an obligation to keep in
confidence. Consultant also agrees that Consultant will not bring
onto the Company’s premises or transfer onto the
Company’s technology systems any unpublished document,
proprietary information, or trade secrets belonging to any third
party unless disclosure to, and use by, the Company has been
consented to in writing by such third
party.

 

D. Third
Party Confidential Information.
Consultant
recognizes that the Company has received and in the future will
receive from third parties their confidential or proprietary
information subject to a duty on the Company’s part to
maintain the confidentiality of such information and to use it only
for certain limited purposes. Consultant agrees that at all times
during the term of this Agreement and thereafter, Consultant owes
the Company and such third parties a duty to hold all such
confidential or proprietary information in the strictest confidence
and not to use it or to disclose it to any person, firm,
corporation, or other third party except as necessary in carrying
out the Services for the Company consistent with the
Company’s agreement with such third
party.

 

4. Ownership

 

A. Assignment
of Inventions.
Consultant
agrees that all right, title, and interest in and to any
copyrightable material, notes, records, drawings, designs, charts,
graphs, data compilations, inventions, improvements, developments,
discoveries and trade secrets conceived, discovered, authored,
invented, developed or reduced to practice by Consultant, solely or
in collaboration with others, during the term of this Agreement and
arising out of, or in connection with, performing the Services
under this Agreement and any copyrights, patents, trade secrets,
mask work rights or other intellectual property rights relating to
the foregoing (collectively, “Inventions”),
are the sole property of the Company. Consultant also agrees to
promptly make full written disclosure to the Company of any
Inventions and to deliver and assign (or cause to be assigned) and
hereby irrevocably assigns fully to the Company all right, title
and interest in and to the Inventions without any compensation
therefor.

 

 

2

 

 

B. Pre-Existing
Materials.
Subject
to Section 4.A, Consultant agrees that if, in the course of
performing the Services, Consultant incorporates into any Invention
or utilizes in the performance of the Services any pre-existing
invention, discovery, original works of authorship, development,
improvements, trade secret, concept, or other proprietary
information or intellectual property right owned by Consultant or
in which Consultant has an interest (“Prior
Inventions”),
(i) Consultant will provide the Company with prior written
notice and (ii) the Company is hereby granted a nonexclusive,
royalty-free, perpetual, irrevocable, transferable, worldwide
license (with the right to grant and authorize sublicenses) to
make, have made, use, import, offer for sale, sell,
reproduce, distribute, modify, adapt, prepare derivative works of,
display, perform, and otherwise exploit such Prior Inventions,
without restriction, including, without limitation, as part of or
in connection with such Invention, and to practice any method
related thereto. Consultant will not incorporate any invention,
improvement, development, concept, discovery, work of authorship or
other proprietary information owned by any third party into any
Invention.

 

C. Moral
Rights. Any
assignment to the Company of Inventions includes all rights of
attribution, paternity, integrity, modification, disclosure and
withdrawal, and any other rights throughout the world that may be
known as or referred to as “moral rights,”
“artist’s rights,” “droit moral,” or
the like (collectively, “Moral
Rights”).
To the extent that Moral Rights cannot
be assigned under applicable law, Consultant
hereby waives and agrees not to enforce any and all Moral Rights,
including, without limitation, any limitation on subsequent
modification, to the extent permitted under applicable
law.

 

D. Maintenance
of Records.
Consultant
agrees to keep and maintain adequate, current, accurate, and
authentic written records of all Inventions made by Consultant
(solely or jointly with others) during the term of this Agreement,
and for a period of three (3) years thereafter. The records will be
in the form of notes, sketches, drawings, electronic files,
reports, or any other format that is customary in the industry
and/or otherwise specified by the Company. Such records are and
remain the sole property of the Company at all times and upon
Company’s request, Consultant shall deliver (or cause to be
delivered) the same.

 

E. Further
Assurances.
Consultant
agrees to assist Company, or its designee, at the Company’s
expense, in every proper way to secure the Company’s rights
in Inventions in any and all countries, including the disclosure to
the Company of all pertinent information and data with respect
thereto, the execution of all applications, specifications, oaths,
assignments and all other instruments that the Company may deem
necessary in order to apply for, register, obtain, maintain,
defend, and enforce such rights, and in order to deliver, assign
and convey to the Company, its successors, assigns and nominees the
sole and exclusive right, title, and interest in and to all
Inventions and testifying in a suit or other proceeding relating to
such Inventions. Consultant further agrees that Consultant’s
obligations under this Section 4.E shall
continue after the termination of this
Agreement.

 

F. Attorney-in-Fact.
Consultant
hereby irrevocably designates and appoints the Company and its duly
authorized officers and agents as Consultant’s agent and
attorney-in-fact, to act for and on Consultant’s behalf to
execute and file any papers and oaths and to do all other lawfully
permitted acts with respect to such Inventions to further the
prosecution and issuance of patents, copyright and mask work
registrations with the same legal force and effect as if executed
by Consultant, effective if the Company is unable because of
Consultant’s unavailability, dissolution, mental or physical
incapacity, or for any other reason, to secure Consultant’s
signature with respect to any Inventions, including, without
limitation, for the purpose of applying for or pursuing any
application for any United States or foreign patents or mask work
or copyright registrations covering the Inventions assigned to the
Company in Section 4.A. This power of attorney shall be deemed
coupled with an interest, and shall be
irrevocable.

 

 

3

 

 

5. Conflicting
Obligations

 

A. Consultant
represents and warrants that Consultant has no agreements,
relationships, or commitments to any other person or entity that
conflict with the provisions of this Agreement, Consultant’s
obligations to the Company under this Agreement, and/or
Consultant’s ability to perform the Services. Consultant will
not enter into any such conflicting agreement during the term of
this Agreement.

 

B. Consultant
shall require all Consultant’s employees, contractors, or
other third-parties performing Services under this Agreement to
execute a Confidential Information and Assignment Agreement in the
form provided by the Company, and promptly provide a copy of each
such executed agreement to the Company. Consultant’s
violation of this Article 5 will
be considered a material breach under
Section 8.B.

 

6. Return
of Company Materials

 

Upon
the termination of this Agreement, or upon Company’s earlier
request, Consultant will immediately deliver to the Company, and
will not keep in Consultant’s possession, recreate, or
deliver to anyone else, any and all Company property, including,
but not limited to, all records, drawings, notebooks, and other
documents pertaining to any Confidential Information, tangible
embodiments of the Inventions, all devices and equipment belonging
to the Company, all electronically-stored information and passwords
to access such property, those records maintained pursuant to
Section 4.D and
any reproductions of any of the foregoing items that Consultant may
have in Consultant’s possession or
control.

 

7. Reports

 

Consultant agrees that Consultant shall, no less than on a weekly
basis, keep the Company advised as to Consultant’s progress
in performing the Services under this Agreement. Consultant further
agrees that Consultant will, as requested by the Company, prepare
written reports with respect to such progress and any projects
being worked on or implemented. The Company and Consultant agree
that the reasonable time expended in preparing such written reports
will be considered time devoted to the performance of the
Services.

 

8. Term
and Termination

 

A. Term.
The
term of this Agreement will begin on the Effective Date of this
Agreement and will continue until the earlier of (i) the
period defined in Exhibit A or (ii) termination as provided in
Section 8.B.

 

B. Termination.
The
Company may terminate this Agreement upon giving Consultant five
(5) days prior written notice of such termination pursuant to
Section 14.G
of
this Agreement. The Company may terminate this Agreement
immediately and without prior notice if Consultant refuses to or is
unable to perform the Services or is in breach of any material
provision of this Agreement.

 

C. Survival.
Upon
any termination, all rights and duties of the Company and
Consultant toward each other shall cease
except:

 

 

4

 

 

(1) The
Company will pay, within thirty (30) days after the effective date
of termination, all amounts owing to Consultant for Services
completed and accepted by the Company prior to the termination date
and related reimbursable expenses, if any, submitted in accordance
with the Company’s policies and in accordance with the
provisions of Article 1 of
this Agreement; and

 

(2) Article 3
(Confidentiality),
Article 4 (Ownership),
Section 5.B (Conflicting
Obligations), Article 6 (Return
of Company Materials), Article 8 (Term
and Termination), Article 9 (Independent
Contractor; Benefits), Article 10 (Indemnification),
Article 11 (Noninterference),
Article 12 (Limitation
of Liability), Article 13 (Arbitration
and Equitable Relief), and Article 14 (Miscellaneous)
will survive termination or expiration of this Agreement in
accordance with their terms.

 

9. Independent
Contractor; Benefits

 

A. Independent
Contractor. It
is the express intention of the Company and Consultant that
Consultant perform the Services as an independent contractor to the
Company. Nothing in this Agreement shall in any way be construed to
constitute Consultant as an agent, employee, partner, co-venturer,
or representative of the Company. Without limiting the generality
of the foregoing, Consultant is not authorized to bind the Company
to any liability or obligation or to represent that Consultant has
any such authority. Consultant agrees to furnish (or reimburse the
Company for) all tools and materials necessary to accomplish this
Agreement and shall incur all expenses associated with performance,
except as expressly provided in 
Exhibit A.

 

B. Tax
Matters. Consultant
acknowledges that the exercise, transfer or other disposition of
the Options more fully described in Schedule A may give rise to
significant U.S. income tax consequences. Consultant is urged to
consult with her own tax advisor to determine the effect of U.S.
federal income tax laws, as well as applicable treaties, if any,
with regard to the Options. The following outlines certain U.S.
federal income tax consequences applicable to nonqualified stock
options. This discussion is general in nature and is not a
substitute for an individual analysis of the tax consequences
relating to the Options. The Company makes no representation or
warranties with respect to the tax consequences of the compensation
provided to Consultant under the terms of this
Agreement.

 

(1) U.S.
Persons:
Nonqualified stock options refer to options that are not required
to meet specified criteria set forth in Section 422 of the Internal
Revenue Code (“Code”). With respect to U.S. citizens or
residents (“U.S. Persons”), the taxation of
nonqualified stock options generally is governed by Section 83 of
the Code. Nonqualified stock options generally are not taxable upon
grant, because they do not have a “readily ascertainable fair
market value” within the meaning Treasury Regulations Section
1.83-7(b). As such, nonqualified stock options generally will be
taxed on exercise in amount equal the spread between the fair
market value of the underlying stock and the exercise price on the
date the options are exercised. The taxable amount is treated as
ordinary income, and not eligible for the preferential long-term
capital gains tax rate. An exception will apply with respect to
stock received on exercise of an option that is subject to a
“substantial risk of forfeiture” (meaning, the stock is
not vested). The taxable event with respect options involving a
substantial risk of forfeiture will occur at the time of vesting of
the underlying stock, and the associated tax will be based on the
spread between the fair market value of the underlying stock on the
vesting date and the option exercise price. The taxable spread upon
the exercise of an option by service providers other than employees
(including an independent contractor) is reported on IRS Form
1099-MISC, and withholding of employment tax typically is not
required in such case.

 

 

5

 

 

(2) Non-U.S.
Persons.
Individuals who are not considered to be U.S. citizens or residents
are only subject to U.S. federal income tax on income that is
“effectively connected” (“ECI”) with a U.S.
trade or business. Performing services in the U.S. as an
independent contractor, even for a single day, may constitute being
engaged in a U.S. trade or business for this purpose, and as such,
may give rise to taxable ECI. That being the case, though, it is
clear that the exercise of a nonqualified stock option will not
result in U.S. income taxation with respect to an independent
contractor who does not perform any personal services in the U.S.
within the taxable year. In addition, many bilateral income tax
treaties between the U.S. and other countries, in dealing with the
taxation of income from personal services, distinguish between
“independent” (including an independent contractor) and
“dependent” (employment) personal services. Many tax
treaties provide an exemption from U.S. income taxation for
compensation earned by an independent contractor provided that
he/she is not present in the U.S. for more than a certain number of
(generally, 183) days in the taxable
year.

 

(3) Consultant
agrees and understands that he/she is responsible for payment, if
any, of local, state, and/or federal taxes on the payments and any
other consideration provided hereunder by the Company and any
penalties or assessments thereon. Consultant agrees to indemnify
and hold harmless the Company and its affiliates and their
directors, officers and employees from and against all taxes,
losses, damages, liabilities, costs and expenses, including
attorneys’ fees and other legal expenses, arising from or in
connection with (i) any obligation imposed on the Company to pay
withholding taxes or similar items, (ii) any determination by a
court or agency that the Consultant is not an independent
contractor. The parties will comply with all federal, state, and
local tax laws applicable to transactions occurring under this
Agreement. Consultant will provide Company with a completed Form
W-9, applicable Form W-8 series form, or Form 8233, as appropriate,
for federal income tax reporting purposes.

 

C. No
Benefits.
The
Company and Consultant agree that Consultant will receive no
Company-sponsored benefits from the Company where benefits include,
but are not limited to, paid vacation, sick leave, health and
medical insurance and 401k participation or other fringe benefit
plans. If Consultant is reclassified by a state or federal agency
or court as the Company’s employee, Consultant will become a
reclassified employee and will receive no benefits from the
Company, except those mandated by state or federal law, even if by
the terms of the Company’s benefit plans or programs of the
Company in effect at the time of such reclassification, Consultant
would otherwise be eligible for such
benefits.

 

10. Indemnification

 

Consultant agrees to indemnify and hold harmless the Company and
its affiliates and their directors, officers and employees from and
against all taxes, losses, damages, liabilities, costs and
expenses, including attorneys’ fees and other legal expenses,
arising directly or indirectly from or in connection with
(i) any negligent, reckless or intentionally wrongful act of
Consultant or Consultant’s assistants, employees, contractors
or agents, (ii) a determination by a court or agency that the
Consultant is not an independent contractor, (iii) any breach
by the Consultant or Consultant’s assistants, employees,
contractors or agents of any of the covenants contained in this
Agreement and corresponding Confidential Information and Invention
Assignment Agreement, (iv) any failure of Consultant to
perform the Services in accordance with all applicable laws, rules
and regulations, or (v) any violation or claimed violation of
a third party’s rights resulting in whole or in part from the
Company’s use of the Inventions or other deliverables of
Consultant under this Agreement.

 

 

6

 

 

Company agrees to indemnify and hold harmless the Consultant from
and against all taxes, losses, damages, liabilities, costs and
expenses, including attorneys’ fees and other legal expenses,
arising directly or indirectly from or in connection with (i) any
negligent, reckless or intentionally wrongful act of Company or
Company’s employees, contractors or
agents.

 

11. Nonsolicitation

 

To the
fullest extent permitted under applicable law, from the date of
this Agreement until twelve (12) months after the termination of
this Agreement for any reason (the “Restricted
Period”),
Consultant will not, without the Company’s prior written
consent, directly or indirectly, solicit any of the Company’s
employees to leave their employment, or attempt to solicit
employees of the Company, either for Consultant or for any other
person or entity. Consultant agrees that nothing in this
Article 11 shall
affect Consultant’s continuing obligations under this
Agreement during and after this twelve (12) month period,
including, without limitation, Consultant’s obligations under
Article 3.

 

12. Limitation
of Liability

 

IN NO EVENT SHALL COMPANY BE LIABLE TO CONSULTANT OR TO ANY OTHER
PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE OR
CONSEQUENTIAL DAMAGES, OR DAMAGES FOR LOST PROFITS OR LOSS OF
BUSINESS, HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY, WHETHER
BASED IN CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHER THEORY OF
LIABILITY, REGARDLESS OF WHETHER COMPANY WAS ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES AND NOTWITHSTANDING THE FAILURE OF
ESSENTIAL PURPOSE OF ANY LIMITED REMEDY. IN NO EVENT SHALL
COMPANY’S LIABILITY ARISING OUT OF OR IN CONNECTION WITH THIS
AGREEMENT EXCEED THE AMOUNTS PAID BY COMPANY TO CONSULTANT UNDER
THIS AGREEMENT FOR THE SERVICES, DELIVERABLES OR INVENTION GIVING
RISE TO SUCH LIABILITY.

 

13. Arbitration
and Equitable Relief

 

A. Arbitration.
IN
CONSIDERATION OF CONSULTANT’S CONSULTING RELATIONSHIP WITH
THE COMPANY, ITS PROMISE TO ARBITRATE ALL DISPUTES RELATED TO
CONSULTANT’S CONSULTING RELATIONSHIP WITH THE COMPANY AND
CONSULTANT’S RECEIPT OF THE COMPENSATION PAID TO CONSULTANT
BY COMPANY, AT PRESENT AND IN THE FUTURE, CONSULTANT AGREES THAT
ANY AND ALL CONTROVERSIES, CLAIMS, OR DISPUTES WITH ANYONE
(INCLUDING COMPANY AND ANY EMPLOYEE, OFFICER, DIRECTOR, SHAREHOLDER
OR BENEFIT PLAN OF THE COMPANY IN THEIR CAPACITY AS SUCH OR
OTHERWISE) ARISING OUT OF, RELATING TO, OR RESULTING FROM
CONSULTANT’S CONSULTING RELATIONSHIP WITH THE COMPANY OR THE
TERMINATION OF CONSULTANT’S CONSULTING RELATIONSHIP WITH THE
COMPANY, INCLUDING ANY BREACH OF THIS AGREEMENT, SHALL BE SUBJECT
TO BINDING ARBITRATION UNDER THE ARBITRATION RULES SET FORTH IN
N.Y. CIV. PRAC. LAW § 7501 ET SEQ. (THE
“RULES”)
AND PURSUANT TO NEW YORK LAW. CONSULTANT FURTHER UNDERSTANDS THAT
THIS AGREEMENT TO ARBITRATE ALSO APPLIES TO ANY DISPUTES THAT THE
COMPANY MAY HAVE WITH CONSULTANT.

 

 

7

 

 

B. Procedure.
CONSULTANT
AGREES THAT ANY ARBITRATION WILL BE ADMINISTERED BY JUDICIAL
ARBITRATION & MEDIATION SERVICES, INC.
(“JAMS”)
PURSUANT TO ITS EMPLOYMENT ARBITRATION RULES & PROCEDURES (THE
“JAMS
RULES”).
CONSULTANT AGREES THAT THE ARBITRATOR SHALL HAVE THE POWER TO
DECIDE ANY MOTIONS BROUGHT BY ANY PARTY TO THE ARBITRATION,
INCLUDING MOTIONS FOR SUMMARY JUDGMENT AND/OR ADJUDICATION AND
MOTIONS TO DISMISS AND DEMURRERS, PRIOR TO ANY ARBITRATION HEARING.
CONSULTANT AGREES THAT THE ARBITRATOR SHALL ISSUE A WRITTEN
DECISION ON THE MERITS. CONSULTANT ALSO AGREES THAT THE ARBITRATOR
SHALL HAVE THE POWER TO AWARD ANY REMEDIES, INCLUDING ATTORNEYS'
FEES AND COSTS, AVAILABLE UNDER APPLICABLE LAW. CONSULTANT AGREES
THAT THE ARBITRATOR SHALL ADMINISTER AND CONDUCT ANY ARBITRATION IN
A MANNER CONSISTENT WITH THE RULES, INCLUDING THE NEW YORK CIVIL
PRACTICE LAW AND RULES, AND THAT THE ARBITRATOR SHALL APPLY
SUBSTANTIVE AND PROCEDURAL NEW YORK LAW TO ANY DISPUTE OR CLAIM,
WITHOUT REFERENCE TO RULES OF CONFLICT OF LAW. TO THE EXTENT THAT
THE JAMS RULES CONFLICT WITH NEW YORK LAW, NEW YORK LAW SHALL TAKE
PRECEDENCE. CONSULTANT FURTHER AGREES THAT ANY ARBITRATION UNDER
THIS AGREEMENT SHALL BE CONDUCTED IN NEW YORK COUNTY, NEW
YORK.

 

C. Remedy.
EXCEPT
AS PROVIDED BY THE RULES, ARBITRATION SHALL BE THE SOLE, EXCLUSIVE
AND FINAL REMEDY FOR ANY DISPUTE BETWEEN CONSULTANT AND THE
COMPANY. ACCORDINGLY, EXCEPT AS PROVIDED FOR BY THE RULES, NEITHER
CONSULTANT NOR THE COMPANY WILL BE PERMITTED TO PURSUE COURT ACTION
REGARDING CLAIMS THAT ARE SUBJECT TO ARBITRATION. NOTWITHSTANDING,
THE ARBITRATOR WILL NOT HAVE THE AUTHORITY TO DISREGARD OR REFUSE
TO ENFORCE ANY LAWFUL COMPANY POLICY, AND THE ARBITRATOR SHALL NOT
ORDER OR REQUIRE THE COMPANY TO ADOPT A POLICY NOT OTHERWISE
REQUIRED BY LAW WHICH THE COMPANY HAS NOT
ADOPTED.

 

D. Availability
of Injunctive Relief.
EITHER
PARTY MAY ALSO PETITION THE COURT FOR INJUNCTIVE RELIEF WHERE
EITHER PARTY ALLEGES OR CLAIMS A VIOLATION OF ANY AGREEMENT
REGARDING TRADE SECRETS, OR CONFIDENTIAL INFORMATION, OR A BREACH
OF ANY DUTY NOT TO ENGAGE IN CONFLICTING BUSINESS ACTIVITY. IN THE
EVENT EITHER PARTY SEEKS INJUNCTIVE RELIEF, THE PREVAILING PARTY
SHALL BE ENTITLED TO RECOVER REASONABLE COSTS AND ATTORNEYS’
FEES.

 

E. Administrative
Relief. CONSULTANT
UNDERSTANDS THAT THIS AGREEMENT DOES NOT PROHIBIT CONSULTANT FROM
PURSUING AN ADMINISTRATIVE CLAIM WITH A LOCAL, STATE OR FEDERAL
ADMINISTRATIVE BODY SUCH AS THE DIVISION OF HUMAN RIGHTS, THE EQUAL
EMPLOYMENT OPPORTUNITY COMMISSION, THE NATIONAL LABOR RELATIONS
BOARD, OR THE WORKERS’ COMPENSATION BOARD. THIS AGREEMENT
DOES, HOWEVER, PRECLUDE CONSULTANT FROM PURSUING COURT ACTION
REGARDING ANY SUCH CLAIM, EXCEPT AS PERMITTED BY
LAW.

 

 

8

 

 

F. Voluntary
Nature of Agreement. CONSULTANT
ACKNOWLEDGES AND AGREES THAT HE/SHE IS EXECUTING THIS AGREEMENT
VOLUNTARILY AND WITHOUT ANY DURESS OR UNDUE INFLUENCE BY THE
COMPANY OR ANYONE ELSE. CONSULTANT FURTHER ACKNOWLEDGES AND AGREES
THAT HE/SHE HAS CAREFULLY READ THIS AGREEMENT AND THAT CONSULTANT
HAS ASKED ANY QUESTIONS NEEDED FOR CONSULTANT TO UNDERSTAND THE
TERMS, CONSEQUENCES AND BINDING EFFECT OF THIS AGREEMENT AND FULLY
UNDERSTAND IT, INCLUDING THAT 
CONSULTANT IS WAIVING HIS/HER RIGHT TO A JURY
TRIAL.
FINALLY, CONSULTANT AGREES THAT HE/SHE HAS BEEN PROVIDED AN
OPPORTUNITY TO SEEK THE ADVICE OF AN ATTORNEY OF CONSULTANT’S
CHOICE BEFORE SIGNING THIS AGREEMENT.

 

14. Miscellaneous

 

A. Governing
Law; Consent to Personal Jurisdiction.
This
Agreement shall be governed by the laws of the State of New York,
without regard to the conflicts of law provisions of any
jurisdiction. To the extent that any lawsuit is permitted under
this Agreement, the Parties hereby expressly consent to the
personal and
exclusive jurisdiction
and
venue of the
state and federal courts located in New
York.

 

B. Assignability.
This
Agreement will be binding upon Consultant’s heirs, executors,
assigns, administrators, and other legal representatives, and will
be for the benefit of the Company, its successors, and its assigns.
There are no intended third-party beneficiaries to this Agreement,
except as expressly stated. Except as may otherwise be provided in
this Agreement, Consultant may not sell, assign or delegate any
rights or obligations under this Agreement. Notwithstanding
anything to the contrary herein, Company may assign this Agreement
and its rights and obligations under this Agreement to any
successor to all or substantially all of Company’s relevant
assets, whether by merger, consolidation, reorganization,
reincorporation, sale of assets or stock, or
otherwise.

 

C. Entire
Agreement.
This
Agreement constitutes the entire agreement and understanding
between the Parties with respect to the subject matter herein and
supersedes all prior written and oral agreements, discussions, or
representations between the Parties. Consultant represents and
warrants that he/she is not relying on any statement or
representation not contained in this Agreement. To the extent any
terms set forth in any exhibit or schedule conflict with the terms
set forth in this Agreement, the terms of this Agreement shall
control unless otherwise expressly agreed by the Parties in such
exhibit or schedule.

 

D. Headings.
Headings
are used in this Agreement for reference only and shall not be
considered when interpreting this
Agreement.

 

E. Severability.
If a
court or other body of competent jurisdiction finds, or the Parties
mutually believe, any provision of this Agreement, or portion
thereof, to be invalid or unenforceable, such provision will be
enforced to the maximum extent permissible so as to effect the
intent of the Parties, and the remainder of this Agreement will
continue in full force and effect.

 

F. Modification,
Waiver. No
modification of or amendment to this Agreement, nor any waiver of
any rights under this Agreement, will be effective unless in a
writing signed by the Parties. Waiver by the Company of a breach of
any provision of this Agreement will not operate as a waiver of any
other or subsequent breach.

 

 

9

 

 

G. Notices.
Any
notice or other communication required or permitted by this
Agreement to be given to a Party shall be in writing and shall be
deemed given (i) if delivered personally or by commercial
messenger or courier service, (ii) when sent by confirmed
facsimile, or (iii) if mailed by U.S. registered or certified
mail (return receipt requested), to the Party at the Party’s
address written below or at such other address as the Party may
have previously specified by like notice. If by mail, delivery
shall be deemed effective three business days after mailing in
accordance with this Section 14.G.

 

(1) If
to the Company, to:

53 Calle Palmeras

Suite 802

San Juan, PR 00901

Attention: President

 

(2) If
to Consultant, to the address for notice on the signature page to
this Agreement or, if no such address is provided, to the last
address of Consultant provided by Consultant to the
Company.

 

H. Attorneys’
Fees and Expenses.
In any
court action at law or equity that is brought by one of the Parties
to this Agreement to enforce or interpret the provisions of this
Agreement, the prevailing Party will be entitled to reasonable
attorneys’ fees and expenses, in addition to any other relief
to which that Party may be entitled.

 

I. Signatures. This
Agreement may be signed in two counterparts, each of which shall be
deemed an original, with the same force and effectiveness as though
executed in a single document.

 

(signature
page follows)

 

10

 

 

IN WITNESS WHEREOF, the Parties hereto have executed this
Consulting Agreement as of the date first written
above.

 

 
	

CONSULTANT 
  

	

 

	

BLOCKCHAIN INDUSTRIES, INC.

	

 

	
 

	
 

	

 

	

 

	
 

	

 

	

By: 

	

/s/  
Kevin
Hu 

	

 

	

By:

	

/s/ 
Patrick Moynihan

	

 

	
 

	

Name:  
Kevin
Hu 

	

 

	

 

	

Name: 
Patrick Moynihan

	

 

	
 

	
 

	

 

	

 

	

Title: CEO

	

 

 

Address for Notice:

 

 

 

 

 

 

 

11

 

 

EXHIBIT A

 

SERVICES AND COMPENSATION

 

1. Consultant.

 

Name: Kevin Hu

 

Title: Director of Asset Allocation

 

Email: kevin@blockchainind.com

 

Phone:

 

2. Services.
The Services will include, but will not be limited to, the
following:

 

●

Asset
allocation across entire company.

●

ICO
portfolio management.

●

Risk mitigation & management.

●

Researching new investment opportunities and drafting detailed
analysis and research.

●

Researching and analyzing tokenization protocols, decentralized
applications and utility effectiveness.

●

Trading oversight and risk management.

●

Develop strategies for recurring revenue
streams.

●

Develop financial and economic models for potential investments in
ICO’s.

●

Financial management of initiatives in any of the Company’s
lines of business.

●

Reporting directly to the CEO

 

3. Term.

 

The term of this agreement shall be three (3) year from the
Effective Date (unless sooner terminated as provided in the
Agreement).

 

4. Compensation.

 

A. The
Company shall pay to Consultant Two Hundred Thousand Dollars
($200,000 USD) per year, billable monthly.

 

B. Subject
to the approval of the Company’s Board of Directors, the
Company will issue to Consultant an option to purchase 500,000
shares of the Company’s Common Stock (the
“Options”).
Subject to the Company’s Equity Incentive Plan, the Options
shall be eligible for cashless exercise. Subject to Consultant
remaining a service provider on all such dates, the Options will
vest according to the following
schedule:

 

 

12

 

 

	

Strike Price

	

Quantity Vested

	

Vesting Date

	

Expiration Date

	

$2.50

	

165,000

	

7/10/2018

	

7/10/2021

	

$5.00

	

165,000

	

7/10/2019

	

7/10/2022

	

$7.50

	

170,000

	

7/10/2020

	

7/10/2023

 

Upon a Change in Control of the Company, all unvested option will
immediately vest. Change in Control shall mean:

 

(a)

the acquisition, directly or indirectly, by any "person" or "group"
(as those terms are defined in Sections 3(a)(9), 13(d), and
14(d) of the Exchange Act and the rules thereunder) of "beneficial
ownership" (as determined pursuant to Rule 13d-3 under the
Exchange Act) of securities entitled to vote generally in the
election of directors ("voting securities") of the Company that
represent 25% or more of the combined voting power of the Company's
then outstanding voting securities, other than

  

(i)

an acquisition by a trustee or other fiduciary holding securities
under any employee benefit plan (or related trust) sponsored or
maintained by the Company or any person controlled by the Company
or by any employee benefit plan (or related trust) sponsored or
maintained by the Company or any person controlled by the
Company,

 

(ii)

an acquisition of voting securities by the Company or a corporation
owned, directly or indirectly, by the stockholders of the
Company in substantially the same proportions as their
ownership of the stock of the Company, or

 

(iii)

an acquisition of voting securities pursuant to a transaction
described in subsection (b) below that would not be a
Change in Control under subsection (b);

 

provided, however,
that notwithstanding the foregoing, an acquisition of the Company's
securities by the Company which causes the Company's voting
securities beneficially owned by a person or group to represent 25%
or more of the combined voting power of the Company's then
outstanding voting securities shall not be considered an
acquisition by any person or group for purposes of this
subsection (a); provided, however,
that if a person or group shall become the beneficial owner of 25%
or more of the combined voting power of the Company's then
outstanding voting securities by reason of share acquisitions by
the Company as described above and shall, after such share
acquisitions by the Company, become the beneficial owner of any
additional voting securities of the Company, then such acquisition
shall constitute a Change in Control;

 

(b)

the consummation by the Company (whether directly involving the
Company or indirectly involving the Company through one or more
intermediaries) of (i) a merger, consolidation,
reorganization, or business combination or (ii) a sale or
other disposition of all or substantially all of the Company's
assets or (iii) the acquisition of assets or stock of
another entity, in each case, other than a
transaction

 

(A)

which results in the Company's voting securities outstanding
immediately before the transaction continuing to represent (either
by remaining outstanding or by being converted into voting
securities of the Company or the person that, as a result of the
transaction, controls, directly or indirectly, the Company or owns,
directly or indirectly, all or substantially all of the Company's
assets or otherwise succeeds to the business of the Company
(the Company or such person, the "Successor Entity")) directly
or indirectly, more than 50% of the combined voting power of the
Successor Entity's outstanding voting securities immediately after
the transaction,

 

 

13

 

 

(B)

after which more than 50% of the members of the board of directors
of the Successor Entity were members of the Incumbent Board at the
time of the Board's approval of the agreement providing for the
transaction or other action of the Board approving the
transaction, and

 

(C)

after which no person or group beneficially owns voting
securities representing 25% or more of the combined voting power of
the Successor Entity; provided, however,
that no person or group shall be treated for purposes of this
subsection (C) as beneficially owning 25% or more of
combined voting power of the Successor Entity solely as a result of
the voting power held in the Company prior to the consummation of
the transaction; or

 

(c)

stockholder approval of a liquidation or dissolution of the
Company.

 

For
purposes of subsection (a) above, the calculation of
voting power shall be made as if the date of the acquisition were a
record date for a vote of the Company's stockholders, and for
purposes of subsection (b) above,
the calculation of voting power shall be made as if the date of the
consummation of the transaction were a record date for a vote of
the Company's stockholders.

 

C. The
Company will reimburse Consultant, in accordance with Company
policy for all reasonable expenses incurred by Consultant in
performing the Services pursuant to this Agreement, if Consultant
receives written consent from an authorized agent of the Company
prior to incurring such expenses and submits receipts for such
expenses to the Company in accordance with Company standard expense
reimbursement policy.

 

On a monthly basis Consultant shall submit to the Company a written
invoice detailing the Services performed and expenses incurred
(with receipts attached), and such statement shall be subject to
the approval of the contact person listed above or other designated
agent of the Company.

 

The Company will reimburse Consultant for a one-time moving expense
not exceeding $20,000 USD net of tax if the consultant was to move
to a city of the CEO’s choosing. At the time of this
contract, The Consultant has agreed to move the greater Los Angeles
area.

 

5. Other
Arrangements

 

A.

The Company will, to the best of its ability, sponsor the
Consultant for a H1B visa. In the event that the visa process is
delayed, the Consultant will work remoted from either London or
Toronto with frequent trips to meet with the CEO or other relevant
parties.

 

 

 

 

 

 

 

14Exhibit
10.1

 

 

 

Consulting
Agreement

 

This
Consulting Agreement (this “Agreement”) is entered into on this 12th day of December, 2018 by and between Oramed
Pharmaceuticals Inc., a Delaware corporation having a principal place of business at 142 W. 57th Street, 11th Floor, New York,
NY 10019 (“Oramed”), and Joshua Hexter, an individual residing at 7550 Amherst Avenue, University City,
MO, 63130 (“Consultant”).

 

Oramed
wishes to receive certain services from Consultant as a consultant, and Consultant is willing to provide such services to Oramed
as a consultant. In consideration of the foregoing and the mutual covenants and conditions hereinafter set forth, the parties
hereto agree as follows:

 

	1.	Services.
    Consultant shall provide Oramed with the services specified in the attached Schedule 1, in accordance with Oramed’s
    needs and requirements, and according to a schedule and timeframe as will be agreed by Consultant and Oramed (the “Services”).
    Consultant shall perform Services faithfully, diligently and to the best of Consultant’s skill and ability. Nothing
    herein will prevent Oramed from dealing directly or indirectly with any third parties who provide services similar or identical
    to the Services.

 

	2.	Payment.
    In consideration for the performance of the Services by Consultant, Oramed shall pay Consultant the fees set forth in Schedule
    1 hereto (the “Fees”). The Fees are inclusive of all taxes. Oramed will not make deductions for taxes
    from any amounts payable to Consultant, and any such taxes shall be the sole responsibility of Consultant. The Fees shall
    be payable in arrears on a current plus 30 days basis, against presentation of an invoice by Consultant. If Oramed is required
    by law to withhold any taxes, any amount withheld shall be deducted from the Fees. Invoices prepared by Consultant shall state
    the Fees in the same currency indicated in this Agreement. Oramed shall also reimburse Consultant for reasonable out-of-pocket
    business expenses incurred by Consultant in connection with providing the Services, provided that such expenses have been
    approved in writing in advance by Oramed and are evidenced by receipts.

 

	3.	Confidentiality.
    

 

	3.1.	By
    executing this Agreement, Consultant confirms that the provisions of the Confidential Disclosure Agreement entered into by
    and between Oramed and Consultant, dated November 8, 2018 (the “CDA”), shall continue to be in force during
    the term of this Agreement. A copy of the CDA is attached hereto as Exhibit A.

 

	3.2.	While
    rendering the Services, Consultant shall not bring to Oramed, use or disclose any third party information which Consultant
    is prohibited from using or disclosing by another agreement to which Consultant is or becomes a party. Without the limiting
    the foregoing, Consultant understands that Consultant is not to breach any obligation of confidentiality that Consultant has
    to present or former employers or clients, and agrees to fulfill all such obligations during the term of this Agreement.

 

	4.	No
    Conflicts. Consultant represents and warrants that Consultant’s performance of this Agreement and the Services does
    not and will not breach or conflict with any agreement to which Consultant is or becomes a party, nor does it require the
    consent of any other person or entity. Consultant shall inform Oramed, immediately after Consultant becomes aware of it, of
    any matter or engagement that may in any way raise a conflict of interest between Consultant and Oramed or prevent Consultant
    from providing the Services.

 

     

     

    

 

	5.	Independent
    Contractor. It is understood that Consultant is an independent contractor and not an employee of Oramed. Consultant has
    no authority to obligate Oramed by contract or otherwise. None of Consultant’s employees will be considered an employee
    of Oramed or eligible for any right or benefit (including such rights and benefits that Oramed may grant to its employees).
    No deductions shall be made from the Fees nor any transfers made to any governmental or private entity except as set forth
    in this Agreement, and Consultant hereby waives any claim against Oramed based on such deductions or transfers not being made.
    Taxes shall be the sole responsibility of the Consultant. If, as a result of a claim or suit by Consultant or any of its employees,
    a competent court of law rules that the relationship between Oramed and an employee of Consultant is an employer-employee
    relationship and that, as a result of such relationship, such employee of Consultant is entitled to rights or compensation
    from Oramed, the following will apply: Consultant shall fully indemnify Oramed for any damages, liabilities or other costs
    and expenses incurred in connection with any such determination, and Oramed shall be entitled to offset any amount due to
    Consultant resulting from the determination that an employer-employee relationship exists against any amount actually paid
    or due under this Agreement.

 

	6.	Code
    of Business Conduct and Ethics; Internal Policies. Consultant shall at all times comply with the Code of Business Conduct
    and Ethics attached hereto as Exhibit B and the Policy regarding Securities Trades by Company Personnel attached hereto
    as Exhibit C. Without limiting the foregoing, Oramed has informed Consultant, and Consultant acknowledges that the
    securities of Oramed are publicly traded on the Nasdaq Capital Market in the United States and on the Tel Aviv Stock Exchange
    in Israel. As such, Oramed has advised Consultant of, and Consultant acknowledges the restrictions imposed by the securities
    laws of the United States and Israel on the purchase or sale of securities by any person who has received material, non-public
    information about Oramed or any of the affiliates, and on the communication of such information to any other person who may
    purchase or sell such securities in reliance upon such information.

 

	7.	Term.
    The term of this Agreement shall be for a period of six (6) months commencing November 16, 2018.

 

	8.	Termination.
    Either party may terminate this Agreement with or without cause upon 5 days’ written notice; provided, however,
    that Sections 3.1 and 5 will survive the termination or expiration of this Agreement for any reason. Upon termination of this
    Agreement, Consultant shall promptly deliver to Oramed all documents and other materials of any nature pertaining to the Services.

 

	9.	Miscellaneous.
    This Agreement constitutes the entire agreement and understanding between the parties with respect to the subject matter
    hereof, and supersedes all prior written or oral agreements with respect thereto. This Agreement may be assigned by Oramed
    without the consent of Consultant. Consultant may not assign or delegate duties under this Agreement without the prior written
    consent of Oramed. The provisions of this Agreement will survive the assignment of this Agreement by Oramed to any successor
    or other assignee. This Agreement may not be modified except by written instrument signed by a duly authorized representative
    of each party hereto. No failure, delay of forbearance of either party in exercising any power or right hereunder will in
    any way restrict or diminish such party’s rights and powers under this Agreement, or operate as a waiver of any breach
    or nonperformance by either party of any terms of conditions hereof. If it is determined under any applicable law that a certain
    provision set forth in this Agreement is invalid or unenforceable, such determination will not affect the remaining provisions
    of this Agreement. This Agreement will be governed by the laws of the State of Delaware. Any dispute arising out of or in
    connection with this Agreement will be subject to the exclusive jurisdiction of the competent courts of the State of New York
    sitting in New York County, and of the United States District Court of the Southern District of New York, and any appellate
    court from any thereof.

 

	10.	Counterparts.
    For the convenience of the parties, this Agreement may be signed in counterparts, each of which will be an original instrument
    and all of which taken together will constitute one and the same Agreement. Delivery of a signed counterpart of this Agreement
    by e-mail or facsimile transmission will constitute valid and sufficient delivery thereof.

 

    2

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above.

 

	ORAMED:

	 	CONSULTANT: 

	 	 	 	 	 
	Oramed Pharmaceuticals Inc. 	 	Joshua Hexter
	 	 	 	 	 
	By:	/s/
    Nadav Kidron	 	By:	/s/
    Joshua Hexter
	 	Nadav
    Kidron	 	 	 
	 	CEO	 	 	 

 

    3

     

    

 

SCHEDULE
1

 

Description
of the Services and Fees

 

Services

 

	 	●	Business
    Development – the Consultant will act as a business development and advisor on behalf of Oramed. Consultant will seek
    to introduce organizations and/or individuals that will create business development opportunities for Oramed.

 

	 	●	Investor
    Relations – the Consultant will provide ongoing investor relations advice to Oramed.

 

Additionally,
the Consultant shall advise the officers, directors and employees of Oramed on such other matters and at such times and places
as may be mutually agreed upon.

 

Except
as provided in the Agreement, the time, place and manner of performance of the Services shall be determined at the sole discretion
of the Consultant.

 

Fees

 

For
the first 10 hours of such Services, the Consultant will be paid NIS 150 per hour.

 

Beyond
the first 10 hours of such Services, the Consultant will be paid NIS 500 per hour.

 

For
the avoidance of doubt, these Fees shall be construed as the gross cost to Oramed and taxes shall be the sole responsibility of
the Consultant.

 

    4

     

    

 

EXHIBIT
A

 

Confidential
Disclosure Agreement

 

Attached

 

    5

     

    

 

Mutual
Non Disclosure Agreement

 

This
Mutual Non Disclosure Agreement (this “Agreement”) is entered by and between Oramed Pharmaceuticals Inc.,
a Delaware Company, with an office at 142 W. 57th St., New York, NY, USA, and its Israeli subsidiary, Oramed Ltd (together
- the “Company”) and Joshua Hexter, an individual residing at 7550 Amherst Avenue, University City, MO,
63130 (the “Recipient”). The parties wish to discuss a possible business relationship with each other, and in
connection with the same each of the parties has been, and/or will be, provided with, and/or has access to certain confidential
information of the other party. With respect to any and all information disclosed by either party (“Disclosing Party”)
to the other party (“Receiving Party”), the parties wish to ensure due protection of such information.

 

Therefore,
the parties hereby agree as follows:

 

1. Receiving
Party acknowledges that it may receive information regarding the activities and business of Disclosing Party, its parent companies,
subsidiaries and/or affiliates, all whether in oral, written, graphic, or machine-readable form, or in any other form, including,
without limitation, concepts, techniques, processes, methods, systems, designs, drawings, photographs, models, prototypes, computer
programs, research materials, formulas, development or experimental work, work in progress, mask work, inventions, cost data,
marketing plans, product plans, business strategies, financial information, forecasts, personnel information and customer or supplier
lists (collectively, “Confidential Information”). For the avoidance of doubt, nothing herein shall be deemed
to impose on Disclosing Party any duty or obligation to disclose any such information to Receiving Party, and such disclosure
shall be at all times at Disclosing Party’s sole and absolute discretion. Furthermore, nothing herein shall be deemed to create
any representation that the Confidential Information, or any part of it, is whole, accurate or correct.

 

2. Notwithstanding
the aforesaid, information shall not be deemed as Confidential Information, for purposes of this Agreement, if Receiving Party
can show documentary evidence that: (a) such information is in the public domain at the time of disclosure, or subsequently becomes
part of the public domain, through no breach of Receiving Party of its obligations hereunder; or (b) such information is received
by Receiving Party from a third party exempt from confidentiality undertakings; or (c) such information was in its possession
at the time of disclosure, and Receiving Party so advised Disclosing Party in writing immediately upon disclosure; or (d) Receiving
Party is compelled by court or government action pursuant to applicable law to disclose such information, provided, however, that
Receiving Party gives Disclosing Party prompt notice thereof so that Disclosing Party may seek a protective order or other appropriate
remedy, and further provided that in the event that such protective order or other remedy is not obtained, Receiving Party shall
furnish only that portion of the Confidential Information which is legally required, and shall exercise all efforts required to
obtain confidential treatment for such information.

 

3. The
Confidential Information shall be used by Receiving Party for the sole purpose of evaluating its interest in future cooperation
with Disclosing Party as set forth hereinabove, and, if the parties shall engage in any relationship - solely for the limited
purposes of such engagement.

 

    6

     

    

 

4. Receiving
Party hereby acknowledges that the Confidential Information is highly confidential, and undertakes that, at all times, it: (i)
shall treat and maintain the Confidential Information as confidential, and hold all such Confidential Information in trust and
in strict confidence, utilizing the same degree of care it uses to protect its own confidential information, but in no event less
than a reasonable degree of care; (ii) shall not disclose the Confidential Information to any third party, whether or not for
consideration; (iii) shall not use the Confidential Information for any purpose other than the limited purpose mentioned in Section
3 above, or exploit the Confidential Information for its own benefit or for the benefit of anyone else, without the prior written
consent of Disclosing Party; and (iv) shall not make any copies of the Confidential Information without the prior written consent
of Disclosing Party.

 

5. Receiving
Party undertakes to hold all Confidential Information locked and to disclose the Confidential Information only to those of its
employees and consultants (provided, with respect to such consultants, that disclosure to any consultant shall be made only after
receipt of written consent of the Disclosing Party) who have to be so informed in order to ensure its proper evaluation (each,
a “Representative”), and provided that such Representatives are bound by written confidentiality and non-use
undertakings towards Receiving Party which also apply to the Confidential Information disclosed to Receiving Party under this
Agreement. Receiving Party will be responsible for ensuring that the obligations of confidentiality and non-use contained herein
are observed by all Representatives, and it represents that it has instituted policies and procedures which provide such adequate
protection for the Confidential Information. Without derogating from the aforesaid, Receiving Party shall bear full responsibility
for any harm caused to Disclosing Party by disclosure to Representatives.

 

6. To
the extent that any portion of the Confidential Information contains proprietary and confidential notices or legends, Receiving
Party shall not remove such notices or legends, and shall produce the same on each and every copy of the Confidential Information
produced by it.

 

7. Upon
Disclosing Party’s first demand, Receiving Party shall return to Disclosing Party all Confidential Information, including all
records, products and samples received, and any copies thereof, as well as any notes, memoranda or other writings or documentation
which contain or pertain to the Confidential Information or any portion thereof, whether in its possession or under its control,
and shall erase all electronic records thereof, and shall so confirm to Disclosing Party in writing.

 

8. The
Confidential Information and all right, title and interest therein will remain at all times the exclusive property of Disclosing
Party its parent companies, subsidiaries and/or affiliates. Nothing hereunder may be construed as granting to Receiving Party
any right, warranty or license by implication or otherwise under any patent, copyright, know-how or design rights, or other form
of protection of industrial or intellectual property, or as creating any obligation on the part of Disclosing Party to enter into
any business relationship whatsoever or to offer for sale any service or product.

 

    7

     

    

 

9. Receiving
Party recognizes, acknowledges and agrees that Disclosing Party may be irreparably harmed if Receiving Party’s obligations and
undertakings herein are not specifically enforced, and that Disclosing Party would not have an adequate remedy at law in the event
of actual or threatened violation by Receiving Party of such obligations and undertakings. Therefore, Receiving Party agrees that
Disclosing Party shall be entitled to seek and obtain an injunction, without bond, or to an appropriate decree of specific performance
or any other appropriate equitable relief.

 

10. All
of Disclosing Party’s rights hereunder and all of Receiving Party’s obligations and undertakings hereunder shall be in full effect
for the entire term of this Agreement, and for an unlimited period of time after its termination, cancellation or expiration for
any reason whatsoever, so long as any information disclosed by Disclosing Party to Receiving Party under this Agreement remains
Confidential Information of Disclosing Party. Without derogating from the aforesaid, should the parties engage in any relationship,
all of Disclosing Party’s rights hereunder and all of Receiving Party’s obligations and undertakings hereunder shall be in full
effect for as long as the parties shall engage in such relationship.

 

11. The
Recipient acknowledges that the Company is a publicly traded company. As such, the Recipient agrees not to use any Confidential
Information or any other non-public information in connection with the purchase or sale of the securities of the Company in violation
of United States securities laws.

 

12. This
Agreement constitutes the entire agreement and understanding between the parties with respect to the subject matter hereof, and
supersedes all prior written or oral agreements with respect thereto. This Agreement may not be modified except by written instrument
signed by a duly authorized representative of each party hereto. No failure, delay of forbearance of either party in exercising
any power or right hereunder shall in any way restrict or diminish such party’s rights and powers under this Agreement, or operate
as a waiver of any breach or nonperformance by either party of any terms of conditions hereof. In the event that it shall be determined
under any applicable law that a certain provision set forth in this Agreement is invalid or unenforceable, such determination
shall not affect the remaining provisions of this Agreement unless the purpose of this Agreement is substantially frustrated thereby.
This Agreement shall be governed by the laws of the State of New York and any dispute arising out of or in connection with this
Agreement is hereby submitted to the sole and exclusive jurisdiction of the competent courts in New York.

 

	/s/
                                         Nadav Kidron

	 	/s/
                                         Joshua Hexter 

	Oramed Pharmaceuticals Inc.	 	Joshua
    Hexter
	 	 	 	Date:
    November 8, 2018
	By:	                 	 	 
	 	 	 	 
	Title:		 	 
	 	 	 	 
	Date:		 	 

 

    8

     

    

 

EXHIBIT
B

 

Code
of Business Conduct and Ethics 

 

Attached

 

    9

     

    

 

ORAMED
PHARMACEUTICALS INC.

(the
“Corporation”)

CODE
OF ETHICS AND BUSINESS CONDUCT

FOR
DIRECTORS, SENIOR OFFICERS AND EMPLOYEES OF THE CORPORATION

(the
“Code”)

 

This
Code applies to the Chief Executive Officer, President, Chief Financial Officer, Principal Executive Officer, Principal Financial
Officer, Principal Accounting Officer, Controller and persons performing similar functions (collectively, the “Senior Officers”)
along with all directors and employees within the Corporation (the Senior Officers, directors and employees are hereinafter collectively
referred to as the “Employees”). This Code covers a wide range of business practices and procedures. It does not cover
every issue that may arise, but it sets out basic principles to guide all Employees of the Corporation. All Employees should conduct
themselves accordingly and seek to avoid the appearance of improper behavior in any way relating to the Corporation.

 

Any
Employee who has any questions about the Code should consult with the Chief Executive Officer, the President, the Corporation’s
board of directors (the “Board”) or the Corporation’s audit committee (the “Audit Committee”).

 

The
Corporation has adopted the Code for the purpose of promoting:

 

	 	●	honest
    and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional
    relationships;

 

	 	●	full,
    fair, accurate, timely and understandable disclosure in all reports and documents that the Corporation files with, or submits
    to, the Securities and Exchange Commission (“SEC”) and in other public communications made by the Corporation
    that are within the Senior Officer’s area of responsibility;

 

	 	●	compliance
    with applicable governmental laws, rules and regulations;

 

	 	●	the
    prompt internal reporting of violations of the Code; and

 

	 	●	accountability
    for adherence to the Code.

 

HONEST
AND ETHICAL CONDUCT

 

Each
Senior Officer and member of the Board owes a duty to the Corporation to act with integrity. Integrity requires, among other things,
being honest and candid. Employees must adhere to a high standard of business ethics and are expected to make decisions and take
actions based on the best interests of the Corporation, as a whole, and not based on personal relationships or benefits. Generally,
a “conflict of interest” occurs when an Employee’s personal interests is, or appears to be, inconsistent with,
interferes with or is opposed to the best interests of the Corporation or gives the appearance of impropriety.

 

    10

     

    

 

Business
decisions and actions must be made in the best interests of the Corporation and should not be influenced by personal
considerations or relationships. Relationships with the Corporation’s stakeholders for example suppliers, competitors
and customers - should not in any way affect an Employee’s responsibility and accountability to the Corporation.
Conflicts of interest can arise when an Employee or a member of his or her family receive improper gifts, entertainment or
benefits as a result of his or her position in the Corporation.

 

Specifically,
each Employee must:

 

	 	1.	act
    with integrity, including being honest and candid while still maintaining the confidentiality of information when required
    or consistent with the Corporation’s policies;

 

	 	2.	avoid
    violations of the Code, including actual or apparent conflicts of interest with the Corporation in personal and professional
    relationships;

 

	 	3.	disclose
    to the Board or the Audit Committee any material transaction or relationship that could reasonably be expected to give rise
    to a breach of the Code, including actual or apparent conflicts of interest with the Corporation;

 

	 	4.	obtain
    approval from the Board or Audit Committee before making any decisions or taking any action that could reasonably be expected
    to involve a conflict of interest or the appearance of a conflict of interest;

 

	 	5.	observe
    both the form and spirit of laws and governmental rules and regulations, accounting standards and Corporation policies;

 

	 	6.	maintain
    a high standard of accuracy and completeness in the Corporation’s financial records;

 

	 	7.	ensure
    full, fair, timely, accurate and understandable disclosure in the Corporation’s periodic reports;

 

	 	8.	report
    any violations of the Code to the Board or Audit Committee;

 

	 	9.	proactively
    promote ethical behavior among peers in his or her work environment; and

 

	 	10.	maintain
    the skills appropriate and necessary for the performance of his or her duties.

 

DISCLOSURE
OF CORPORATION INFORMATION

 

As
a result of the Corporation’s status as a public company, it is required to file periodic and other reports with the SEC.
The Corporation takes its public disclosure responsibility seriously to ensure that these reports furnish the marketplace with
full, fair, accurate, timely and understandable disclosure regarding the financial and business condition of the Corporation.
All disclosures contained in reports and documents filed with or submitted to the SEC, or other government agencies, on behalf
of the Corporation or contained in other public communications made by the Corporation must be complete and correct in all material
respects and understandable to the intended recipient.

 

    11

     

    

 

The
Senior Officers, in relation to his or her area of responsibility, must be committed to providing timely, consistent and
accurate information, in compliance with all legal and regulatory requirements. It is imperative that this disclosure be
accomplished consistently during both good times and bad and that all parties in the marketplace have equal or similar access
to this information.

 

All
of the Corporation’s books, records, accounts and financial statements must be maintained in reasonable detail, must appropriately
reflect the Corporation’s transactions, and must conform both to applicable legal requirements and to the Corporation’s
system of internal controls. Unrecorded or “off the book” funds, assets or liabilities should not be maintained unless
permitted by applicable law or regulation. Senior Officers involved in the preparation of the Corporation’s financial statements
must prepare those statements in accordance with generally accepted accounting principles, consistently applied, and any other
applicable accounting standards and rules so that the financial statements materially, fairly and completely reflect the business
transactions and financial statements and related condition of the Corporation. Further, it is important that financial statements
and related disclosures be free of material errors.

 

Specifically,
each Senior Officer must:

 

	 	1.	familiarize
    himself or herself with the disclosure requirements generally applicable to the Corporation;

 

	 	2.	not
    knowingly misrepresent, or cause others to misrepresent, facts about the Corporation to others, including the Corporation’s
    independent auditors, governmental regulators, selfregulating organizations and other governmental officials;

 

	 	3.	to
    the extent that he or she participates in the creation of the Corporation’s books and records, promote the accuracy,
    fairness and timeliness of those records; and

 

	 	4.	in
    relation to his or her area of responsibility, properly review and critically analyse proposed disclosure for accuracy and
    completeness.

 

CONFIDENTIAL
INFORMATION

 

Employees
must maintain the confidentiality of confidential information entrusted to them by the Corporation of its customers, suppliers,
joint venture partners, or others with whom the Corporation is considering a business or other transaction except when disclosure
is authorized by an executive officer or required or mandated by laws or regulations. Confidential information includes all non-public
information that might be useful or helpful to competitors or harmful to the Corporation or its customers or suppliers, if disclosed.
It also includes information that suppliers, customers and other parties have entrusted to the Corporation. The obligation to
preserve confidential information continues even after employment ends.

 

    12

     

    

 

Records
containing personal data about employees or private information about customers and their employees are confidential. They are
to be carefully safeguarded, kept current, relevant and accurate. They should be disclosed only to authorized personnel or as
required by law.

 

All
inquiries regarding the Corporation from non-employees, such as financial analysts and journalists, should be directed to the
Board or the Audit Committee. The Corporation’s policy is to cooperate with every reasonable request of government investigators
for information. At the same time, the Corporation is entitled to all the safeguards provided by law for the benefit of persons
under investigation or accused of wrongdoing, including legal representation. If a representative of any government or government
agency seeks an interview or requests access to data or documents for the purposes of an investigation, the Employee should refer
the representative to the Board or the Audit Committee. Employees also should preserve all materials, including documents and
e-mails that might relate to any pending or reasonably possible investigation.

 

COMPLIANCE
WITH LAWS

 

The
Employees must respect and obey all applicable foreign, federal, state and local laws, rules and regulations applicable to the
business and operations of the Corporation.

 

Employees
who have access to, or knowledge of, material nonpublic information from or about the Corporation are prohibited from buying,
selling or otherwise trading in the Corporation’s stock or other securities. “Material nonpublic” information
includes any information, positive or negative, that has not yet been made available or disclosed to the public and that might
be of significance to an investor, as part of the total mix of information, in deciding whether to buy or sell stock or other
securities.

 

Employees
also are prohibited from giving “tips” on material nonpublic information, that is directly or indirectly
disclosing such information to any other person, including family members, other relatives and friends, so that they may
trade in the Corporation’s stock or other securities.

 

Furthermore,
if, during the course of an Employee’s service with the Corporation, he or she acquires material nonpublic information about
another company, such as one of our customers or suppliers, or you learn that the Corporation is planning a major transaction
with another company (such as an acquisition), the Employee is restricted from trading in the securities of the other company.

 

    13

     

    

 

REPORTING
ACTUAL AND POTENTIAL VIOLATIONS OF THE CODE AND ACCOUNTABILITY FOR COMPLIANCE WITH THE CODE

 

The
Corporation, through the Board or the Audit Committee, is responsible for applying this Code to specific situations in which questions
may arise and has the authority to interpret this Code in any particular situation.

 

This
Code is not intended to provide a comprehensive guideline for Senior Officers in relation to their business activities with the
Corporation. Any Employee may seek clarification on the application of this Code from the Board or the Audit Committee.

 

Each
Employee must:

 

	 	1.	notify
    the Corporation of any existing or potential violation of this Code, and failure to do so is itself a breach of the Code;
    and

 

	 	2.	not
    retaliate, directly or indirectly, or encourage others to do so, against any Employee for reports, made in good faith, of
    any misconduct or violations of the Code solely because that Employee raised a legitimate ethical issue.

 

The
Board or the Audit Committee will take all action it considers appropriate to investigate any breach of the Code reported to it.
All Employees are required to cooperate fully with any such investigations and to provide truthful and accurate information. If
the Board or the Audit Committee determines that a breach has occurred, it will take or authorize disciplinary or preventative
action as it deems appropriate, after consultation with the Corporation’s counsel if warranted, up to and including termination
of employment. Where appropriate, the Corporation will not limit itself to disciplinary action but may pursue legal action against
the offending Employee involved. In some cases, the Corporation may have a legal or ethical obligation to call violations to the
attention of appropriate enforcement authorities.

 

Compliance
with the Code may be monitored by audits performed by the Board, Audit Committee, the Corporation’s counsel and/or by
the Corporation’s outside auditors. All Employees are required to cooperate fully with any such audits and to provide
truthful and accurate information.

 

Any
waiver of this Code for any Employee may be made only by the Board or the Audit Committee and will be promptly disclosed to stockholders
and others, as required by applicable law. The Corporation must disclose changes to and waivers of the Code in accordance with
applicable law.

 

    14

     

    

 

ACKNOWLEDGEMENT

 

Please
sign below acknowledging that you have read and agreed to abide by Oramed’s Code of Ethics.

 

I
received, reviewed and agree to be bound by Oramed’s Code of Ethics

Dated:  

 

	 	/s/ Josh Hexter 
	 	Signature
	 	 
	 	Josh Hexter
	 	Name
	 	 
	 	COO and VP Business Development
	 	Title

 

Return this Acknowledgment to the CFO of Oramed.

 

    15

     

    

 

EXHIBIT
C

 

Securities
Trades by Company Personnel

 

Attached

 

    16

     

    

 

ORAMED
PHARMACEUTICALS INC.

AMENDED AND RESTATED

INSIDER TRADING POLICY

 

(Last
approved by the Board of Directors on October 2, 2014)

 

This
policy sets forth guidelines for all Insiders (as defined below) of Oramed Pharmaceuticals Inc. (“Oramed”) with respect
to transactions in Oramed securities. This policy arises from Oramed’s responsibilities as a public company whose shares
of common stock are quoted on the Nasdaq Capital Market, or Nasdaq, under the symbol “ORMP”. Failure to comply with
these guidelines could result in a serious violation of the securities laws by you and/or Oramed and can involve both civil and
criminal penalties. It is important that you review this policy carefully.

 

	I.	Reason
    for Policy 

 

Oramed
is subject to the insider trading laws in the United States. Under United States law, an individual may be subject to fines of
up to $5,000,000 and up to twenty years in jail for violating the securities laws by engaging in transactions in securities at
a time when in possession of material non-public information. In addition, the U.S. Securities and Exchange Commission (the “SEC”)
may seek the imposition of a civil penalty of up to three times the profits made or losses avoided from the trading. Insider traders
must also disgorge any profits made and are often subjected to an injunction against future violations. Violators can also be
barred from serving as officers or directors of public companies. Individuals also may be subjected to civil liability in private
lawsuits. The foregoing penalties are subject to amendment from time to time.

 

Without
regard to the penalties that may be imposed by others, willful violation of this policy constitutes grounds for dismissal from
the Board of Directors of Oramed (the “Board”), termination of your employment or, with respect to Representatives
(as defined below), termination of your engagement with Oramed.

 

Insider
trading proscriptions are not limited to trading by the insider alone; it is also illegal to advise others to trade on the basis
of undisclosed material information or to share non-public material information with others if you know or should have known that
they will use such information to purchase or sell Oramed shares. Liability in such cases can extend both to the “tippee”—the
person who purchased or sold Oramed shares based on this non-public information—and to the “tipper,” the Insider
himself. Even if you are not in possession of material non-public information regarding Oramed, do not recommend to any other
person that they buy or sell securities of Oramed because your recommendation could be imputed to Oramed and may be misleading
if you do not have all of the relevant information.

 

Finally,
the appearance of insider trading can cause a substantial loss of confidence in Oramed and its shares on the part of the public
and the securities markets. This could obviously have an adverse impact on Oramed and its shareholders. Accordingly, avoiding
the appearance of engaging in share transactions on the basis of material undisclosed information can be as important as
avoiding a transaction actually based on such information. Furthermore, if your share transactions become the subject of
scrutiny, they will be viewed after the fact with the benefit of 20/20 hindsight. Accordingly, before engaging in any transaction
you should carefully consider how regulators and others might view your transaction with such hindsight and, if you have the slightest
doubt, consult with Oramed’s Chief Financial Officer (“CFO”).

 

In
the event an Insider becomes aware of a possible violation of this policy by another Insider, he or she should contact Oramed’s
CFO, without delay by telephone at 844-967-2633 (U.S.) or +972-2 566 0001 (Israel) or by email at hilla@oramed.com.

 

    17

     

    

 

	II.	Applicability
of Policy

 

1. “Insiders”
Defined. This policy applies to any “Insider” of Oramed, including any (a) member of the Board and officers
of Oramed or its subsidiaries, (b) employee of Oramed or its subsidiaries, including part-time or temporary employees, and
(c) consultant, representative, or independent contractor (“Representative”). This policy also applies to family
members and other members of an Insiders person’s household (collectively, “Family Members”), as well any entities
that an Insider influences or controls, including any corporations, partnerships or trusts (collectively, “Controlled Entity”).
Insiders are responsible for the compliance with this policy by such Insider’s Family Members and Controlled Entities.

 

2. “Access
Insiders” Defined. This policy imposes additional restrictions upon Insiders who may have increased access to material
information concerning Oramed or its subsidiaries that has not been disclosed to the public (see below for a definition of “material
information”), referred to as “Access Insiders.” Access Insiders are: (a) members of the Board of Directors
of Oramed, (b) the Chief Executive Officer, Chief Financial Officer, presidents, general managers, vice presidents, controllers,
vice controllers, treasurers, corporate secretaries and accounting personnel of Oramed and (c) the Family Members and Controlled
Entities of the foregoing persons. Access Insiders are subject to additional procedures and restrictions described in Section
VI below.

 

3. Inside
Information Regarding Other Companies. This policy and the guidelines described herein also apply to material non-public information
relating to other companies, including Oramed’s customers, vendors or suppliers or companies with which Oramed is considering
merger & acquisition transactions (“business partners”), when that information is obtained in the course of employment
with, or other services performed on behalf of, Oramed. Civil and criminal penalties, and termination of employment, may result
from trading on inside information regarding Oramed’s business partners. All personnel should treat material non-public
information about Oramed’s business partners with the same care required with respect to information related directly to
Oramed.

 

4. Tail
Period. If you are aware of material, non-public information when your employment or service terminates, you may not trade
in Oramed securities until that information has become public or is no longer material.

 

	III.	Definition
    of Full Disclosure

 

Full
disclosure to the public generally means that it has been widely disseminated, including released through a U.S. or international
newswire service, broadcast on widely-available U.S. or international radio or television programs, published in a widely-available
newspaper, magazine or news website, or disclosed in public disclosure documents filed with the SEC. A speech to an audience or
an article in an obscure magazine does not qualify as full disclosure. In addition, full disclosure means that the securities
markets have had the opportunity to fully absorb the news. Generally, information should not be considered fully absorbed until
two (2) full trading days after the announcement was released.

 

	IV.	Definition
    of Material Information

 

It
is not possible to define all categories of material information. In general, information should be regarded as material if there
is a likelihood that it would be considered important by a reasonable investor in making a decision regarding the purchase or
sale of Oramed securities. Both positive and negative information can be material, as well as information that forecasts
whether an event may or may not occur.

 

Although
it may be difficult under this standard to determine whether certain information is material, there are various categories of
information that would almost always be regarded as material. Examples of such information are: earnings information and quarterly
or annual results; guidance on earnings estimates; clinical results; product and research developments; marketing plans; major
licensing transactions; government inspections, approvals or other regulatory actions; status of patent applications; changes
in senior management; proposed payment of a dividend or change in dividend policy; planned share splits or repurchases; new equity
or debt offerings; other events regarding Oramed securities (e.g., defaults on debt, changes to the rights of security holders);
major changes in accounting policies; collaborations, mergers, acquisitions or divestitures, and significant litigation matters.
Moreover, material information does not have to be related to a company’s business. For example, advance knowledge of the
contents of a forthcoming article that is expected to affect the market price of a security can be material. If any Insider has
questions as to the materiality of information, he or she should contact the CFO of Oramed for clarification.

 

    18

     

    

 

	V.	Confidentiality,
    Prohibited Transactions and Pre-clearance

 

1. Confidentiality
of Non-public Information. Non-public information relating to Oramed is the property of Oramed and the unauthorized disclosure
of such information is forbidden. Keep all memoranda, correspondence and other documents that reflect non-public information in
a secure place, such as a locked office or a locked file cabinet, so that they cannot be seen by third persons. Do not discuss
non-public information where it can be overheard, such as in restaurants, elevators, restrooms and other public places.

 

2. Trading
while in Possession. Insiders may not engage in a transaction (purchase or sale) in Oramed shares at any time between the
date on which any non-public material information becomes known to the individual and the close of business on the second (2nd)
full Nasdaq trading day after such information is publicly disclosed. Nasdaq is generally open for trading Monday through
Friday. If, for example, Oramed publicly disclosed information on a Monday, then you may not trade in Oramed securities until
Thursday.

 

3. Speculative
Trading. No Insider may engage in transactions of a speculative nature at any time. All Insiders are prohibited from short-selling
Oramed common stock or engaging in transactions involving Oramed-based derivative securities. “Derivative Securities”
are options, warrants, stock appreciation rights or similar rights whose value is derived from the value of an equity security,
such as Oramed common stock. This prohibition includes, but is not limited to, trading in Oramed-based put and call option contracts,
transacting in straddles, and the like. However, as indicated below, holding and exercising options or other derivative securities
granted under Oramed’s employee stock option or equity incentive plans is not prohibited by this policy.

 

4. Short-Term
Trading. Short-term trading of Oramed securities may be distracting to the person and may unduly focus the person on Oramed’s
short-term stock market performance instead of Oramed’s long-term business objectives. For these reasons, any Insider of
Oramed who purchases Oramed securities in the open market may not sell any Oramed securities of the same class during the six
months following the purchase (or vice versa).

 

5. Short
Sales. Short sales of Oramed securities (i.e., the sale of a security that the seller does not own) may evidence an expectation
on the part of the seller that the securities will decline in value, and therefore have the potential to signal to the market
that the seller lacks confidence in Oramed’s prospects. In addition, short sales may reduce a seller’s incentive to
seek to improve Oramed’s performance. For these reasons, short sales of Oramed securities are prohibited. In addition, Section
16(c) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), prohibits officers and directors
from engaging in short sales. (Short sales arising from certain types of hedging transactions are governed by the paragraph below
captioned “Hedging Transactions.”)

 

6. Hedging
Transactions. Hedging or monetization transactions can be accomplished through a number of possible mechanisms, including
through the use of financial instruments such as prepaid variable forwards, equity swaps, collars and exchange funds. Such hedging
transactions may permit a director, officer or employee to continue to own Oramed securities obtained through employee benefit
plans or otherwise, but without the full risks and rewards of ownership. When that occurs, the director, officer or employee may
no longer have the same objectives as Oramed’s other shareholders. Therefore, directors, officers and employees are permitted
to engaging in any such transactions, subject to in writing pre-clearance by the CFO or the Chief Executive Officer.

 

7. Margin
Accounts and Pledged Securities. Securities held in a margin account as collateral for a margin loan may be sold by the broker
without the customer’s consent if the customer fails to meet a margin call. Similarly, securities pledged (or hypothecated)
as collateral for a loan may be sold in foreclosure if the borrower defaults on the loan. Because a margin sale or foreclosure
sale may occur at a time when the pledgor is aware of material non-public information or otherwise is not permitted to trade in
Oramed securities, directors, officers and other employees are prohibited from holding Oramed securities in a margin account or
otherwise pledging Oramed securities as collateral for a loan. (Pledges of Oramed securities arising from certain types of hedging
transactions are governed by the paragraph above captioned “Hedging Transactions.”)

 

    19

     

    

 

8. Ad
hoc Restrictions. From time to time, an event may occur that is material to Oramed and is known by only a few Insiders. So
long as the event remains material and non-public, Oramed may impose restrictions on trading in Oramed securities by appropriate
individuals. In addition, Oramed’s financial results may be sufficiently material in a particular fiscal quarter that, in
the judgment of the CFO, Access Insiders should refrain from trading in Oramed securities even sooner than the typical Blackout
Period described below. In such event, the CFO or her designee will notify the affected individuals, either personally, by email
or by voicemail, to inform them of the restrictions, but may do so without disclosing the reason for the restriction. The existence
of an event-specific trading restriction period or extension of a Blackout Period will not be announced to Oramed as a whole,
and should not be communicated to any other person. Even if the CFO has not designated you as a person who should not trade due
to an event-specific restriction, you should not trade while aware of material non-public information. Exceptions will not be
granted during an event-specific trading restriction period.

 

9. Open
Orders. Any Insider who has placed a limit order or open instruction to buy or sell Oramed securities shall bear responsibility
for canceling such instructions immediately in the event restrictions are imposed on their ability to trade in accordance with
the paragraph above captioned “Ad hoc Restrictions”.

 

	VI.	Additional
    Procedures for Access Insiders

 

Pre-clearance.
All Access Insiders must inform Oramed’s CFO whenever they intend to execute a trade in Oramed securities, including
the placing of limit orders. At the time of executing a trade in Oramed securities, such individuals will be responsible for verifying
that Oramed has not imposed any restrictions on their ability to engage in trades. If the individual has not completed the trade
within five (5) trading days of notification of the intention to trade, then the individual must re-confirm with Oramed’s
CFO that they intend to execute a trade and the individual must re-verify the nonexistence of any restrictions on such trade.
Before each transaction in Oramed securities, each such officer and director should contact the CFO regarding (a) compliance
with Rule 144 under the Securities Act of 1933, as amended, which contains guidelines for the sale of privately issued shares
and sales by affiliates of Oramed, if such sales are not covered by an effective registration statement, to the extent applicable,
and (b) the reporting of purchases and sales of shares through the filing of Forms 4 with the SEC.

 

	VI.	Exceptions

 

The
only exceptions to the policy are set forth below. It does not matter that the Insider may have decided to engage in a
transaction before learning of the undisclosed material information or that delaying the transaction might result in economic
loss. It is also irrelevant that publicly disclosed information about Oramed might, even aside from the undisclosed material information,
provide a substantial basis for engaging in the transaction. Additionally, there are no limits on the size of a transaction that
will trigger insider trading liability; relatively small trades have in the past occasioned investigations and law suits. You
simply cannot trade in Oramed shares while in possession of undisclosed material information about Oramed. The only exceptions
to the policy are as follows:

 

1. Exercise
of an option under Oramed’s share option plan. Note that this exception does not include (a) any sale of stock as part of
a broker-assisted cashless exercise of an option, or any other market sale for the purpose of generating the cash needed to pay
the exercise price of an option or (b) a subsequent sale of the shares acquired pursuant to the exercise of the option under the
Oramed share option plan.

 

2. Bona
fide gifts of securities are not deemed to be transactions for the purposes of this policy. Whether a gift is truly bona fide
will depend on the circumstances surrounding each gift. The more unrelated the donee is to the donor, the more likely the gift
would be considered “bona fide” and not a “transaction”. For example, gifts to charities, religious institutions
and service organizations would clearly not be “transactions”. On the other hand, gifts to dependent children followed
by a sale of the “gift” securities in close proximity to the time of the gift may imply some economic benefit to the
donor and, therefore, make the gift non-bona fide.

 

3. Any
transaction specifically approved in writing and in advance by at least two of the following individuals (excluding the individual
whose prospective trade is the subject to the approval): the Chairman of the Board, Chief Executive Officer, CFO, or any member
of the Audit Committee of the Board.

 

    20

     

    

 

4. The
restrictions set forth in the preceding paragraphs shall not apply to sales made pursuant to a Qualified Selling Plan. For purposes
of this exception, a “Qualified Selling Plan” is a written plan for selling Oramed’s shares which meets each
of the following requirements: (a) the plan is adopted by the Insider or temporary Insider during a period when the Insider or
temporary Insider is not in possession of material non-public information; (b) the plan is adhered to strictly by the Insider
or temporary Insider; (c) the plan either (i) specifies the amount of securities to be sold and the date on which the securities
are to be sold, (ii) includes a written formula or algorithm, or computer program, for determining the amount of securities to
be sold and the price at which and the date on which the securities are to be purchased or sold, or (iii) does not permit the
Insider or temporary Insider to exercise any subsequent influence over how, when, or whether to effect sales; provided, in addition,
that any other person who, pursuant to the plan, does exercise such influence must not have been aware of the material non-public
information when doing so; and (iv) at the time it is adopted the plan conforms to all other requirements of Rule 10b5-1(c)(1)(C)
under the Exchange Act as then in effect.

 

	VI.	Acknowledgement

 

Please
sign the attachment acknowledging that you have read and agree to abide by this policy and return it to Hilla Eisenberg, Oramed’s
CFO, by facsimile to +972 (0)72 274 0406 or by email at hilla@oramed.com. If you have any questions, please contact Ms. Eisenberg.

 

    21

     

    

 

ACKNOWLEDGEMENT

 

Please
sign below acknowledging that you have read and agreed to abide by Oramed’s Insider Trading Policy.

 

I
received, reviewed and agree to be bound by Oramed’s Insider Trading Policy.

 

Dated: August 8, 2018  

 

	 	/s/
    Joshua Hexter 
	 	Signature
	 	 
	 	Joshua
        Hexter 

        

	 	Name
	 	 
	 	Chief
        Operating Officer

        

	 	Title

 

Return this Acknowledgment to the CFO of Oramed.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Insider Trading Policy Acknowledgment

 

    22

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