Document:

Exhibit 10.2 

THIS AGREEMENT MADE effective this 1st day of
February 2019.

BETWEEN: 

EESTECH INC, a Delaware, USA registered company with
commercial operations based in Auckland, New Zealand. (hereinafter called the “EESTECH”)

OF THE FIRST PART,

AND 

GRAEME LYNCH OR HIS NOMINATED ENTITY of Auckland,
New Zealand. (hereinafter called the “PROVIDER”)

OF THE SECOND PART.

WHEREAS the PROVIDER has over the past ten (10) years,
provided commercial advisory services and expertise to EESTECH and both parties are desirous of executing a written agreement for the
continuance of this commercial arrangement by which the EESTECH will retain the services of the PROVIDER;

AND WHEREAS the PROVIDER desires to continue to render
his services and expertise to EESTECH and EESTECH desires to continue to retain the PROVIDER with respect to his expertise on the terms
and conditions set out herein;

NOW THEREFORE, this Agreement witnesses that in consideration
of the promises, mutual covenants and agreements contained herein, the parties covenant and agree with each other as follows:

EESTECH hereby contracts, engages and hires the PROVIDER as Chief
Operating Officer and the PROVIDER accepts and agrees to such hiring, engagement and contracting, subject to the general supervision and
pursuant to the orders, advice and direction of EESTECH.

1.0   
TERM

This Agreement shall be effective from the Signature Date and
shall, subject to the terms and conditions contained herein, continue for a period of 5 (five) years.

		2.0	REMUNERATION 

		2.1	For an Initial Period, monthly fee payments of AUD$17,000 and payment of approved business-related expenses including mobile phone
and software license fees required to undertake the Duties defined in 4.0.

		2.2	Conditional of a reportable commercial contract being awarded to EESTECH or a subsidiary of EESTECH, and the securing in part or whole
of financing for such contract workings, the remuneration of the said PROVIDER will increase to a minimum of AUD$360,000 per annum.

    

     

    

		2.3	Upon such reportable commercial contract being awarded and financing for such contract workings secured, a benefits package comparative
to industry benchmarks of a senior global corporate executive is to be implemented as soon as can be agreed upon. Such benefits can incorporate
health insurance, vehicle allowance, performance bonus, profit share, equity allocations, stock options and or other such items mutually
acceptable to the parties.

		2.4	The remuneration package agreed upon in subsection 2.2 and 2.3 shall be subject to annual review and adjustment by the Board on the
recommendation of the Chief Executive Officer based on the PROVIDER’s performance including nurturing the retention and addition
of valuable stakeholders, including employees, suppliers, advisors, directors, prospects, clients, and investors.

3.0         ALLOCATION OF
SHARES

		3.1	PROVIDER shall be granted five (5) million shares (the “Shares”) of which two (2) million shares are to be released immediately
in consideration of services rendered and to offset the inability of EESTECH to meet previous agreement obligations. The balance of the
granted shares shall be subject to repurchase as provided below.

		3.2	Repurchase Option.

		3.2.1	Option: 3,000,000 of the Shares shall be subject to EESTECH’s Repurchase Option (the "Unreleased Shares").
In the event the PROVIDER ceases to be an employee, consultant, advisor, officer or director of EESTECH (a "Service Provider")
due to resignation or termination with just cause, EESTECH shall, from such time (as determined by EESTECH in its discretion), have the
right, but not the obligation (the "Repurchase Option"), for a period of 90 days from the date the PROVIDER ceases to
be a Service Provider, to repurchase any of the Unreleased Shares which have not yet been released from the Repurchase Option pursuant
to Section 3.3.1 at a price per share equal to the lesser of (x) the fair market value of the shares at the time the Repurchase Option
is exercised, as determined by EESTECH’s board of directors and (y) the purchase price for the shares or $0.10 cent per share (the
"Repurchase Price"). The Repurchase Option shall be exercised by EESTECH by delivering written notice to the PROVIDER
or, in the event of the PROVIDER’s death, the PROVIDER’s executor and, at EESTECH’s option, (i) by
delivering to the PROVIDER or the PROVIDER’s executor a check in the amount of the aggregate Repurchase Price, (ii) by canceling
an amount of the PROVIDER’s indebtedness to EESTECH equal to the aggregate Repurchase Price, or (iii) by a combination of (i) and
(ii) such that the combined payment and cancellation of indebtedness equals the aggregate Repurchase Price. Upon delivery of such notice
and the payment of the aggregate Repurchase Price, EESTECH shall become the legal and beneficial owner of the Unreleased Shares being
repurchased and all rights and interests therein or relating thereto, and EESTECH shall have the right to retain and transfer to its own
name the number of Unreleased Shares being repurchased by EESTECH.

		3.2.2	Assignability. EESTECH in its sole discretion may assign all or part of the Repurchase Option to one or more employees,
officers, directors or stockholders of EESTECH or other persons or organizations.

    

     

    

 

		3.3	Release of Shares from Repurchase Option; Vesting.

3.3.1       Vesting.

(i)       So
long as the PROVIDER’s continuous status as a Service Provider has not yet terminated in each such instance, 666,660 of the Unreleased
Shares shall be released from the Repurchase Option on the first anniversary of this Agreement and then thereafter 55,555 of the Unreleased
Shares shall be released from the Repurchase Option on the corresponding day of each month after the Closing (or if there is no corresponding
day in any such month, on the last day of such month), until all Unreleased Shares have been released from EESTECH’s Repurchase
Option;

(ii)       1,000,000
of the Unreleased Shares shall be released from the Repurchase Option, so long as Provider is still a Service Provider at such date and
prior to March 1st, 2021, of the execution of a material, reportable commercial contract (as determined in good faith by EESTECH’s
Board of Directors), or at such time that a bankable project Information Memorandum (IM) has been completed for any project that initiates
a material commercial income producing opportunity for EESTECH and is approved by the Board of Directors (if the Shares in this subsection
3.3.1(ii) are not vested by March 1st, 2022 then they shall be deemed forfeited and the Company shall be immediately able to
repurchase all of the Shares described in this subsection 3.3.1(ii);

		3.3.2	Acceleration upon a Change of Control. In the event of a Change of Control (as defined below), (i) prior to the twelve
month anniversary of this Agreement 33% of the total number of Unreleased Shares that have not been released from the Repurchase Option
shall be immediately released from the Repurchase Option, provided that the PROVIDER’s continuous status as a Service Provider
has not been terminated prior to such time and (ii) after the twelve month anniversary of this Agreement 100% of the total number of Unreleased
Shares that have not been released from the Repurchase Option shall be immediately released from the Repurchase Option, provided
that the PROVIDER’s continuous status as a Service Provider has not been terminated prior to such time.

		3.3.3	"Change of Control" Definition. For purposes of this Agreement, a "Change of Control" means either:

(i)       the
acquisition of EESTECH by another entity by means of any transaction or series of related transactions (including, without limitation,
any reorganization, merger or consolidation or stock transfer, but excluding any such transaction effected primarily for the purpose of
changing the domicile of EESTECH), unless EESTECH’s stockholders of record immediately prior to such transaction or series of related
transactions hold, immediately after such transaction or series of related transactions, at least 50% of the voting power of the surviving
or acquiring entity (provided that the sale by EESTECH of its securities for the purposes of raising additional funds shall not
constitute a Change of Control hereunder); or

(ii)       a
sale of all or substantially all of the assets of EESTECH.

    

     

    

		3.3.4	Delivery of Released Shares. The Shares which have been released from EESTECH’s Repurchase Option shall be delivered
to the PROVIDER at the PROVIDER’s request.

 4.0  DUTIES 

The PROVIDER shall be responsible
for the following:

		(a)	All functions relating to the Chief Operating Officer of EESTECH;

		(b)	Performing such other duties as are customarily performed by one holding such position in other, same or similar businesses or enterprises
as that engaged in by EESTECH and, additionally, shall render such other services and duties as may be assigned from time to time by EESTECH’s
CEO.

5.0  TERMINATION, CHANGE
OF CONTROL, AGREEMENT EXPIRY 

		5.1	In the event that the PROVIDER’s engagement with EESTECH is terminated, other than for just cause or in the event of a change
of control in the activities or structure of EESTECH, the PROVIDER will be entitled to receive the greater of (a) the remaining term of
this agreement or (b) 36 months fees, comprising 24 months fees of accrued compensation notice carried over from the previous agreement,
and a further 12 months in acknowledgement of the term of this agreement. Fees shall be defined to include the PROVIDER’S regular
month fees plus all benefits that the PROVIDER was receiving at time of termination plus all share entitlements accrued and or held on
behalf of the PROVIDER. Such fees shall not be less than $360,000 per year. This fee settlement will serve as full and final satisfaction
of all claims against EESTECH with respect to the termination of this engagement.

		5.2	In the event that the term of this agreement expires, and no new agreement is entered by the Parties, the PROVIDER will be entitled
to receive a final fee payment equivalent to 36 months fees. Fees shall be defined to include the PROVIDER’S regular month fees
plus all benefits that the PROVIDER was receiving at time of termination. Such fees shall not be less than $360,000 per year. This fee
settlement will serve as full and final satisfaction of all claims against EESTECH with respect to the termination of this engagement.

6.0  RESIGNATION 

In the event that the said PROVIDER wishes to resign or retire
from EESTECH , he will be required to provide not less than six (6) months’ notice to EESTECH if Provider’s fee payments are
current and three (3) months’ notice if PROVIDER’S fee payments are not current. In the event that the PROVIDER is unable
to perform his normal duties due to ill health or incapacity, the outcome will be determined by the agreement in Section 5.1.

7.0  NON-COMPETITION/
NON-SOLICITATION 

Should the PROVIDER's engagement be terminated for any reason
or should the said PROVIDER resign his position with EESTECH, he shall not for a period of one year

    

     

    

following termination or resignation, in conjunction with any person, firm,
association, syndicate, corporation or company, as principal, agent, shareholder or in any other manner whatsoever, carry on or be engaged
in or connected with or employed by any person or persons, firm, association, syndicate or corporation or company engaged in or connected
with or interested in any business which is similar to that of EESTECH.

 

8.0   BEST EFFORTS 

		8.1	Unless prevented by ill health or other sufficient cause, the PROVIDER shall during the Initial Period of this engagement, devote
the majority of time or whatever time is required to maintain the PROVIDER’S duties with EESTECH. Upon clause 2.2 and 2.3 coming
into effect, the PROVIDER will commit full time service dedication to EESTech Duties.

		8.2	The PROVIDER shall well and faithfully serve EESTECH and use his best efforts to promote the interests thereof, and shall not, either
during employment with EESTECH or after departing EESTECH, disclose the private affairs of EESTECH, or any secret, technique or knowledge
of EESTECH, or any secret processes, formulas, machinery, and the like used by EESTECH in manufacturing its products, to any person and
shall not use for his own purposes, or for any purpose other than those of EESTECH, any information or knowledge he may acquire with respect
to EESTECH’s affairs. It is hereby agreed and acknowledged that the said PROVIDER shall hold in trust as trustee any such secret,
technique, knowledge, process, formula or information which he may acquire as a result of his employment by EESTECH as these shall at
all times remain the property of the EESTECH.

		8.3	The PROVIDER shall not at any time or in any manner, either directly or indirectly, either during employment with EESTECH or after
departing EESTECH, divulge, disclose or communicate to any person, firm corporation or other entity in any manner whatsoever any information
concerning any matters affecting or relating to the business of EESTECH, including but not limited to any of its customers, the prices
it obtains or has obtained from the sale of, or at which it sells or has sold, its products, or any other information concerning the business
of EESTECH or any of its affiliates, its manner of operations, its plants, processes or other data. Without regard to whether all of the
above stated matters will be deemed confidential, material, or important, EEESTECH and the PROVIDER specifically and expressly stipulate
that as between them, such matters are important, material and confidential and materially affect the effective and success conduct of
the business of EESTECH and its affiliates and EESTECH’s goodwill, and that any breach of the terms of this section shall be material
breach of this Agreement and thus subject to legal action.

		8.4	All the terms of this section of the Agreement shall remain in full force and effect for a period of one (1) year after the termination
of the Provider’s employment for any reason, except that there is no time limit to the non-disclosure provisions noted above.

9.0  INVALID CLAUSE 

In the event that any clause or clauses contained in the within
Agreement are found to be invalid or void for any reason, such clause or clauses shall be considered not to be a part of the Agreement
and the remainder of the Agreement shall be valid in every respect.

    

     

    

10.0  GENERAL

		10.1	The PROVIDER acknowledges that he has had the opportunity to obtain independent legal advice and as such, fully understands the nature
of this contract, the obligations on him and his rights hereunder.

		10.2	This Agreement and the terms hereof represent the full agreement between the parties and there are not terms and conditions other
than as expressed herein.10.3This Agreement is governed by the legal jurisdiction of New Zealand.

 

IN WITNESS WHEREOF EESTECH and PROVIDER has attested to
this agreement by hand.

 

	EESTECH Inc 	Per: 	   /s/ Murray Bailey
	 	Murray Bailey: Chairman / CEO
	 	 	 
	PROVIDER	Per:	   /s/ Graeme Lynch
	 	Graeme Lynch

 

SIGNED,

In the presence of:

 

_____________________________________

Name:Exhibit 10.6

 

Execution Version

 

REE Automotive Ltd.

 

Dealer Manager and Solicitation Agent Agreement
(the “Agreement”)

 

New York, New York

August 25, 2022

 

BofA Securities, Inc.,

   as Dealer Manager

 

c/o BofA Securities, Inc.

One Bryant Park

New York, New York 10036

 

Ladies and Gentlemen:

 

REE Automotive Ltd., a public
company incorporated under the laws of Israel, under registration number 51-455733-9 (the “Company” or “we”),
plans to make an offer (such offer as described in the Prospectus (as defined below), together with the related Consent Solicitation
(as defined below), the “Exchange Offer”), for any and all of its outstanding public warrants and private placement
warrants (each as defined in the Prospectus) (collectively, the “Warrants”) in exchange for consideration consisting
of 0.20 Class A ordinary shares, without par value (the “Shares”), for each Warrant tendered, on the terms and subject
to the conditions set forth in the Offering Documents (as defined below). Certain terms used herein are defined in Section 21 hereof.

 

Concurrently with making the Exchange Offer, the
Company plans to solicit consents (the “Consents”) from the holders of Warrants (as described in the Offering Documents,
the “Consent Solicitation”) to make certain amendments to the terms of the Warrants. Subject to the terms and conditions
set forth in the Offering Documents, if Consents are received from the holders of at least 50% of the number of the then outstanding public
warrants and from the holders of at least 50% of the number of the then outstanding private placement warrants (which is the minimum number
required to amend the Warrant Agreement), the proposed amendment to the Warrant Agreement (as defined below) in the Offering Documents
(the “Warrant Amendment”) shall be adopted.

 

1.
Appointment as Dealer Manager and Solicitation Agent.

 

(a) BofA
Securities, Inc. will act as the exclusive dealer manager and solicitation agent for the Exchange Offer and the Consent Solicitation
(the “Dealer Manager” or “you”) in accordance with your customary practices, including,
without limitation, to use commercially reasonable efforts to solicit tenders pursuant to the Exchange Offer, the solicitation of
Consents pursuant to the Consent Solicitation and assisting in the distribution of the Offering Documents and to perform such
services as are customarily performed by investment banking firms acting as dealer managers and solicitation agents of an exchange
offer of like nature.

 

     

     

    

 

(b)
You agree that all actions taken by you as Dealer Manager have complied and will comply in all material respects with all applicable
laws, regulations and rules of the United States, including, without limitation, the applicable rules and regulations of the registered
national securities exchanges of which you are a member and of the Financial Industry Regulatory Authority, Inc. (“FINRA”).

 

(c)
The Dealer Manager, in its sole discretion, may continue to own or dispose of, in any manner it may elect, any Warrants it may
beneficially own at the date hereof or hereafter acquire, in any such case, subject to applicable law. The Dealer Manager has no obligation
to the Company, pursuant to this Agreement or otherwise, to tender or refrain from tendering Warrants beneficially owned by it in any
Exchange Offer (or to deliver Consents in any related Consent Solicitation). The Dealer Manager acknowledges and agrees that if any Exchange
Offer is not consummated for any reason, the Company shall have no obligation, pursuant to this Agreement or otherwise, to acquire any
Warrants from the Dealer Manager or otherwise to hold the Dealer Manager harmless with respect to any losses it may incur in connection
with the resale to any third parties of any Warrants.

 

(d)
The Company agrees that it will not file, use or publish any material in connection with the Exchange Offer, use the name BofA
or BofA Securities, Inc. or refer to you or your relationship with the Company, without your prior written consent to the form of such
use or reference. There shall be no fee for any such permitted use or reference other than as set forth herein.

 

2.
Compensation. The Company shall pay to you in respect of your services as Dealer Manager the fee set forth in the
attached Schedule A (the “Fee”). The Company shall also promptly reimburse you, only in the event of the consummation
of the Exchange Offer, for the reasonable and documented fees, costs and out-of-pocket expenses of your counsel for their representation
of you incurred in connection with the Exchange Offer, not to exceed $100,000.

 

3.
Representations and Warranties. The Company represents and warrants to, and agrees with, you as set forth below in
this Section 3:

 

(a)
Form F-4. The Company has prepared and filed with the Commission the Pre-Effective Registration Statement on Form F-4, including
a related Preliminary Prospectus, for registration under the Securities Act of the Shares in connection with the Exchange Offer. The Pre-Effective
Registration Statement will have been declared effective by the Commission prior to the Expiration Date and any request on the part of
the Commission or any other federal, state or local or other governmental or regulatory agency, authority or instrumentality or court
or arbitrator for the amending or supplementing of the Offering Documents or for additional information has been complied with. The Company
meets the conditions for the use of Form F-4 with respect to the Pre-Effective Registration Statement and the Registration Statement in
connection with the Exchange Offer as contemplated by this Agreement.

 

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(b) Pre-Effective Registration Statement,
Registration Statement, Preliminary Prospectus and Prospectus. (i) The Pre-Effective Registration Statement and any amendment thereto,
as of the Commencement Date, the Registration Statement, as of the Effective Date, the Expiration Date and the Exchange Date, and the
Preliminary Prospectus and any amendments and supplements thereto, as of its date, the Commencement Date and the Exchange Date, comply,
and will comply, in all material respects with the Securities Act and the Exchange Act and the rules and regulations of the Commission
thereunder (including Rule 13e-4 and Rule 14e under the Exchange Act), (ii) the Prospectus (together with any supplement and amendment
thereto), as of the date it is first filed in accordance with Rule 424(b) under the Securities Act (if it is so filed) and the Exchange
Date, will comply, in all material respects with the Securities Act and the Exchange Act and the rules and regulations of the Commission
thereunder (including Rule 13e-4 and Rule 14e under the Exchange Act), (iii) the Pre-Effective Registration Statement and any amendment
thereto as of the Commencement Date, and the Registration Statement, as of the Effective Date, the Expiration Date and the Exchange Date,
did not contain, and will not contain, any untrue statement of a material fact and did not omit, and will not omit, to state a material
fact required to be stated therein or necessary to make the statements therein not misleading, (iv) the Preliminary Prospectus as
of its date did not contain any untrue statement of a material fact and did not omit to state a material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading and (v) the Prospectus (together with any
supplement or amendment thereto), as of the date it is first filed in accordance with Rule 424(b) (if required), the Expiration Date
and the Exchange Date, will not contain any untrue statement of a material fact and will not omit to state a material fact necessary
to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however,
that the Company makes no representations or warranties as to the information contained in or omitted from the Pre-Effective Registration
Statement, the Registration Statement, any Preliminary Prospectus or the Prospectus (or any supplement or amendment thereto) in reliance
upon and in conformity with information furnished to the Company in writing by or on behalf of the Dealer Manager expressly for inclusion
therein (the “Dealer Manager Information”), it being understood that the Dealer Manager Information shall include
only the name and the contact information of the Dealer Manager.

 

(c)
Documents Incorporated by Reference. The documents incorporated by reference in the Schedule TO (as defined below), when
they became effective or were filed with the Commission, as the case may be, conformed in all material respects to the requirements of
the Securities Act or the Exchange Act, as applicable, and the rules and regulations of the Commission thereunder, and none of such documents
contained an untrue statement of a material fact or omitted to state a material fact necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading provided, however, that this representation and warranty
shall not apply to any statements or omissions made in reliance upon and in conformity with the Dealer Manager Information.

 

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(d) Schedule TO. (i) on the Commencement
Date, the Company will duly file with the Commission the Schedule TO pursuant to Rule 13e-4 promulgated by the Commission under the Exchange
Act, a copy of which Schedule TO (including the documents required by Item 12 thereof to be filed as exhibits thereto) in the form in
which it is to be so filed has been or will be furnished to the Dealer Manager; (ii) any amendments to the Schedule TO and the final
form of all such documents filed with the Commission or published, sent, or given to holders of Warrants will be furnished to you prior
to any such amendment, filing, publication, or distribution; (iii) the Schedule TO as so filed and as amended or supplemented from time
to time will comply in all material respects with the provisions of the Exchange Act and the rules and regulations thereunder; and (iv)
the Schedule TO as filed or as amended or supplemented from time to time will not contain any untrue statement of a material fact or
omit to state a material fact necessary in order to make the statements made therein, in light of the circumstances under which they
are made, not misleading, except that the Company makes no representation or warranty with respect to any statement contained in, or
any matter omitted from, the Schedule TO and in conformity with the Dealer Manager Information.

 

(e)
Rule 165 Material. The Rule 165 Material when filed with the Commission complied or will comply in all material respects
with the applicable requirements of the Securities Act; and no Rule 165 Material, at the time of first use, when taken together with each
Preliminary Prospectus and the Prospectus, as then amended or supplemented, contained or will contain any untrue statement of a material
fact or omitted or will omit to state a material fact required to be stated therein or necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading; provided, however, that this representation
and warranty shall not apply to any statements or omissions in the Rule 165 Material made in reliance upon and in conformity with the
Dealer Manager Information.

 

(f)
No Stop Orders. No stop order suspending the effectiveness of the Registration Statement is in effect, and no proceedings
for such purpose or pursuant to Section 8A under the Securities Act are pending before or, to the knowledge of the Company, threatened
by the Commission.

 

(g)
Emerging Growth Company. From the time of initial filing of the Registration Statement to the Commission through the date
hereof, the Company has been and is an “emerging growth company,” as defined in Section 2(a) of the Securities Act (an “Emerging
Growth Company”).

 

(h) Testing-the-Waters
Materials. The Company (i) has not alone engaged in any Testing-the-Waters Communication with any person other than
Testing-the-Waters Communications with the consent of the Dealer Manager with entities that are reasonably believed to be qualified
institutional buyers within the meaning of Rule 144A under the Securities Act or institutions that are reasonably believed to be
accredited investors within the meaning of Rule 501 under the Securities Act and (ii) has not authorized anyone other than the
Dealer Manager to engage in Testing-the-Waters Communications. The Company reconfirms that the Dealer Manager has been authorized to
act on its behalf in undertaking Testing-the-Waters Communications. The Company has not distributed or approved for distribution any
Testing-the-Waters Communication that is a written communication within the meaning of Rule 405 under the Securities Act.
“Testing-the-Waters Communication” means any communication with potential investors undertaken in reliance on Section
5(d) or Rule 163B of the Securities Act.

 

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(i) Financial Statements. The
financial statements included in each of the Pre-Effective Registration Statement, the Registration Statement, the Preliminary
Prospectus and the Prospectus, together with the related schedules and notes thereto, comply as to form in all material respects
with the applicable accounting requirements of the Securities Act and the Exchange Act, as applicable, and present fairly in all
material respects the consolidated financial position of the Company and its subsidiaries as of the dates shown and its results of
operations and cash flows for the periods shown, and such financial statements have been prepared in conformity with U.S. generally
accepted accounting principles (“GAAP”) applied on a consistent basis throughout the periods involved. The other
financial information included in each of the Pre-Effective Registration Statement, the Registration Statement, the Preliminary
Prospectus and the Prospectus has been derived from the accounting records of the Company and its consolidated subsidiaries and
presents fairly in all material respects the information shown thereby. The statistical, industry-related and market-related data
included in each of the Pre-Effective Registration Statement, the Registration Statement, the Preliminary Prospectus and the
Prospectus are based on or derived from sources which the Company reasonably and in good faith believes are reliable and accurate
and such data is consistent with the sources from which they are derived, in each case in all material respects.

 

(j) No Material Adverse Change. There
has not occurred any Material Adverse Change, or any development involving a prospective Material Adverse Change, in the condition,
financial or otherwise, or in the earnings, business or operations of the Company and its subsidiaries, taken as a whole, since the
date of the latest audited financial statements included within the reports filed with the Commission pursuant to the Exchange Act,
except as disclosed in the Pre-Effective Registration Statement, the Registration Statement, the Preliminary Prospectus and the
Prospectus.

 

(k)
Organization. The Company has been duly incorporated, is validly existing as a public company under the laws of the jurisdiction
of its incorporation, has the corporate power and authority to own or lease its property and to conduct its business as described in each
of the Pre-Effective Registration Statement, the Registration Statement, the Preliminary Prospectus and the Prospectus, and is duly qualified
to transact business and is in good standing in each jurisdiction in which the conduct of its business or its ownership or leasing of
property requires such qualification, except to the extent that the failure to be so qualified or be in good standing would not, singly
or in the aggregate, have a Material Adverse Effect on the Company and its subsidiaries, taken as a whole.

 

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(l) Significant
Subsidiaries. Each “significant subsidiary” (as such term is defined in Rule 1-02 of Regulation S-X) of the Company
(the “Significant Subsidiaries”) has been duly incorporated, organized or formed, is validly existing as a
corporation or other business entity in good standing under the laws of the jurisdiction of its incorporation, organization or
formation (to the extent the concept of good standing or any functional equivalent is applicable in such jurisdiction), has the
corporate or other business entity power and authority to own or lease its property and to conduct its business as described in each
of the Pre-Effective Registration Statement, the Registration Statement, the Preliminary Prospectus and the Prospectus and is duly
qualified to transact business and is in good standing in each jurisdiction in which the conduct of its business or its ownership or
leasing of property requires such qualification, except to the extent that the failure to be so qualified or be in good standing
would not, singly or in the aggregate, have a Material Adverse Effect on the Company and its subsidiaries, taken as a whole; all of
the issued shares of capital stock or other equity interests of each Significant Subsidiary of the Company have been duly and
validly authorized and issued, are fully paid and non-assessable and are owned directly or indirectly by the Company, free and clear
of all liens, encumbrances, equities or claims, except for such liens, encumbrances, equities or claims that would not be, singly or
in the aggregate, material to the Company and its subsidiaries, taken as a whole.

 

(m) Capitalization. All the
outstanding shares of the Company have been duly and validly authorized and issued and are fully paid and non-assessable and are not
subject to any pre-emptive or similar rights; except as described in or expressly contemplated by the Preliminary Prospectus and the
Prospectus, there are no outstanding rights (including, without limitation, pre-emptive rights), warrants or options to acquire, or
instruments convertible into or exchangeable for, any shares or other equity interest in the Company or any of its subsidiaries, or
any contract, commitment, agreement, understanding or arrangement of any kind relating to the issuance of any shares of the Company
or any such subsidiary, any such convertible or exchangeable securities or any such rights, warrants or options; the share capital
of the Company conforms in all material respects to the description thereof contained in the Pre-Effective Registration Statement,
the Registration Statement, the Preliminary Prospectus and the Prospectus; and all the outstanding shares or other equity interests
of each subsidiary owned, directly or indirectly, by the Company have been duly and validly authorized and issued, are fully paid
and non-assessable (except, in the case of any foreign subsidiary, for directors’ qualifying shares) and are owned directly or
indirectly by the Company, free and clear of any lien, charge, encumbrance, security interest, restriction on voting or transfer or
any other claim of any third party other than as described in the Pre-Effective Registration Statement, the Registration Statement,
the Preliminary Prospectus and the Prospectus. The Shares to be issued in exchange for the Warrants as contemplated by the Offering
Documents have been duly authorized for issuance and sale by the Company, and, when issued and delivered as contemplated therein,
will be duly and validly issued, fully paid and nonassessable; neither the filing of the Registration Statement nor the issuance of
the Shares as contemplated by the Offering Documents will give rise to any preemptive or similar rights, other than those which have
been waived or satisfied.

 

    6

     

    

 

(n) Required Filings. The Company
has filed with the Commission pursuant to Rule 13e-4(c)(1) under the Exchange Act (or Rule 425 under the Securities Act) or otherwise
all written communications made by the Company or any affiliate of the Company in connection with or relating to the Exchange Offer or
the Consent Solicitation that are required to be filed with the Commission, in each case on the date of their first use.

 

(o)
Compliance. The Company has complied in all material respects with the Securities Act and the Exchange Act and the rules
and regulations of the Commission thereunder in connection with the Exchange Offer, the Consent Solicitation, the Offering Documents and
the transactions contemplated hereby and thereby. The Company is subject to and in full compliance with the reporting requirements of
Section 13 or Section 15(d) of the Exchange Act. The Company has not received from the Commission any written comments, questions or requests
for modification of disclosure in respect of any reports filed with the Commission pursuant to the Exchange Act, except for comments,
questions or requests (i) that have been satisfied by the provision of supplemental information to the staff of the Commission, or (ii)
in respect of which the Company has agreed with the staff of the Commission to make a prospective change in future reports filed by it
with the Commission pursuant to the Exchange Act, of which agreement the Dealer Manager and its counsel have been made aware.

 

(p)
Stock Options. Except as described in the Pre-Effective Registration Statement, the Registration Statement, the Preliminary
Prospectus and the Prospectus, the Company has not sold, issued or distributed any Ordinary Shares during the six-month period preceding
the date hereof, including any sales pursuant to Rule 144A under, or Regulation D or S of, the Securities Act, other than shares
issued pursuant to employee benefit plans, qualified stock option plans or other employee compensation plans or pursuant to outstanding
restricted share units, options, rights or warrants.

 

(q)
Due Authorization. The Company has full right, power and authority to execute and deliver this Agreement and to perform
its obligations hereunder; and all action required to be taken for the due and proper authorization, execution and delivery by it of this
Agreement and the consummation by it of the transactions contemplated hereby has been duly and validly taken.

 

(r)
Dealer Manager and Solicitation Agent Agreement. This Agreement has been duly authorized, executed and delivered by the
Company.

 

(s) No Violation or
Default. Neither the Company nor any of its subsidiaries: (i) is in default under or in violation of (and no event has occurred
that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any of its
subsidiaries under), nor has the Company or any of its subsidiaries received notice of a claim that it is in default under or that
it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by
which it or any of its properties is bound (whether or not such default or violation has been waived), (ii) is in violation of any
judgment, decree or order of any court, arbitrator or other governmental authority or (iii) is or has been in violation of any
statute, rule, ordinance or regulation of any governmental authority, including without limitation all foreign, federal, state and
local laws relating to taxes, environmental protection, occupational health and safety, product quality and safety and employment
and labor matters, except in each case as could not reasonably be expected to result in a Material Adverse Effect.

 

    7

     

    

 

(t) No Conflicts. The
execution, delivery and performance by the Company of this Agreement, the conduct and consummation of the Exchange Offer and the
consummation by the Company of any other transactions contemplated by this Agreement or the Preliminary Prospectus and the
Prospectus will not (i) conflict with or violate any provision of the Company’s Amended and Restated Articles of Association,
(ii) conflict with or violate any provision of any of the Company’s subsidiaries’ certificates or articles of
incorporation, bylaws or other organizational or charter documents, (iii) conflict with, or constitute a default (or an event that
with notice or lapse of time or both would become a default) under, result in the creation of any Lien upon any of the properties or
assets of the Company or any of its subsidiaries, or give to others any rights of termination, amendment, anti-dilution or similar
adjustments, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt
or other instrument (evidencing a Company or subsidiary debt or otherwise) or other understanding to which the Company or any of its
subsidiaries is a party or by which any property or asset of the Company or any of its subsidiaries is bound or affected, or (iv)
conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any
court or governmental authority to which the Company or any of its subsidiaries is subject (including federal and state securities
laws and regulations), or by which any property or asset of the Company or any of its subsidiaries is bound or affected; except in
the case of each of clauses (ii), (iii) and (iv), such as could not reasonably be expected to result in a Material Adverse
Effect.

 

(u)
No Consents Required. The execution and delivery by the Company of, and the performance by the Company of its obligations
under this Agreement will not contravene any provision of applicable law or the Amended and Restated Articles of Association of the Company
or any agreement or other instrument binding upon the Company or any of its subsidiaries that is material to the Company and its subsidiaries,
taken as a whole, or any judgment, order or decree of any governmental body, agency or court having jurisdiction over the Company or any
subsidiary, and no consent, approval, authorization or order of, or qualification with, any governmental body, agency or court is required
for the performance by the Company of its obligations under this Agreement, except such as may be required by the securities or Blue Sky
laws of the various states or the rules and regulations of the Financial Industry Regulatory Authority, Inc. in connection with the offer
and sale of the Shares.

 

(v) No Legal Proceedings.
There are no legal or governmental proceedings pending or, to the knowledge of the Company, threatened to which the Company or any
of its subsidiaries is a party or to which any of the properties of the Company or any of its subsidiaries is subject i) other than
proceedings accurately described in all material respects in each of the Pre-Effective Registration Statement, the Registration
Statement, the Preliminary Prospectus and the Prospectus and proceedings that would not, singly or in the aggregate, reasonably be
expected to have a Material Adverse Effect on the Company and its subsidiaries, taken as a whole, or on the power or ability of the
Company to perform its obligations under this Agreement or to consummate the transactions contemplated by each of the Pre-Effective
Registration Statement, the Registration Statement, the Preliminary Prospectus and the Prospectus or ii) that are required to be
described in the Pre-Effective Registration Statement, the Registration Statement, the Preliminary Prospectus and the Prospectus and
are not so described; and there are no statutes, regulations, contracts or other documents that are required to be described in the
Pre-Effective Registration Statement, the Registration Statement, the Preliminary Prospectus and the Prospectus or to be filed as
exhibits to the Registration Statement that are not described in all material respects or filed as required.

 

    8

     

    

 

(w)
Independent Accountants. Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global, who have certified certain
financial statements of the Company and its consolidated subsidiaries, for the applicable periods, and delivered their report with respect
to the audited financial statements and schedules filed with the Commission as part of the Registration Statement and included in each
of the Pre-Effective Registration Statement, the Registration Statement, the Preliminary Prospectus and the Prospectus, is an independent
registered public accounting firm with respect to the Company within the meaning of the Securities Act and the applicable rules and regulations
thereunder adopted by the Commission and the Public Company Accounting Oversight Board (United States).

 

(x)
Title to Real and Personal Property. The Company and each of its subsidiaries have good and marketable title in fee simple
to all real property and good and marketable title to all personal property owned by them which is material to the business of the Company
and its subsidiaries, except to the extent that the failure to have good and marketable title to any real or personal property would not
reasonably be expected to have a Material Adverse Effect on the Company and its subsidiaries taken as a whole, in each case free and clear
of all liens, encumbrances and defects except such liens, encumbrances and defects that would not reasonably be expected to have a Material
Adverse Effect on the Company and its subsidiaries taken as a whole; and any real property and buildings held under lease by the Company
and its subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as are not material and do not
interfere with the use made and proposed to be made of such property and buildings by the Company and its subsidiaries.

 

(y) Intellectual Property.
Except as would not, singly or in the aggregate, have a Material Adverse Effect on the Company and its subsidiaries taken as a
whole, (i) the Company and its subsidiaries own or have a valid license to all patents, inventions, copyrights, know how (including
trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures), trademarks,
service marks and trade names and all other worldwide intellectual property and proprietary rights (including all registrations and
applications for registration of, and all goodwill associated with, any of the foregoing) (collectively, “Intellectual
Property Rights”) used or held for use in any material respect, or reasonably necessary to the conduct of their respective
businesses as now conducted by them, and as proposed to be conducted in the Pre-Effective Registration Statement, the Registration
Statement, the Preliminary Prospectus or the Prospectus; (ii) the Intellectual Property Rights owned by the Company and its
subsidiaries and, to the Company’s knowledge, the Intellectual Property Rights licensed to the Company and its subsidiaries,
are valid, subsisting and enforceable, and there is no pending or, to the Company’s knowledge, threatened action, suit,
proceeding or claim by others challenging the validity, scope or enforceability of, or any rights of the Company or any of its
subsidiaries in, any such Intellectual Property Rights; (iii) neither the Company nor any of its subsidiaries has received any
notice alleging any infringement, misappropriation or other violation of Intellectual Property Rights; (iv) to the Company’s
knowledge, no Person (as defined below) is infringing, misappropriating or otherwise violating, or has infringed, misappropriated or
otherwise violated, any Intellectual Property Rights owned or controlled by the Company or any of its subsidiaries; (v) neither the
Company nor any of its subsidiaries infringes, misappropriates or otherwise violates, or has infringed, misappropriated or otherwise
violated, any Intellectual Property Rights of any Person, and the conduct of each of the respective businesses of the Company and
its subsidiaries as described in Pre-Effective Registration Statement, the Registration Statement, the Preliminary Prospectus and
the Prospectus will not knowingly infringe, misappropriate, or otherwise violate any Intellectual Property Rights of any Person;
(vi) all employees or contractors engaged in the development of any Intellectual Property Rights on behalf of the Company or any of
its subsidiaries have executed an invention assignment agreement or are otherwise subject to contractual provisions whereby such
employees or contractors presently assign all of their right, title and interest in and to such Intellectual Property Rights to the
Company or its applicable subsidiary, and to the Company’s knowledge no such agreement has been breached or violated; and
(vii) the Company and its subsidiaries use, and have used, commercially reasonable efforts in accordance with customary industry
practice to appropriately maintain the confidentiality of all Intellectual Property Rights owned by them, including maintenance and
protection of all information intended to be maintained as a trade secret.

 

(z) Data Privacy. (i) The
Company and each of its subsidiaries have complied during the past three years and are presently in compliance, in all material
respects, with all internal and external privacy policies, contractual obligations, industry standards, applicable laws, statutes,
judgments, orders, rules and regulations of any court or arbitrator or other governmental or regulatory authority and any other
legal obligations, in each case, relating to the collection, use, transfer, import, export, storage, protection, disposal and
disclosure by the Company or any of its subsidiaries of personal, personally identifiable, household, sensitive, confidential or
regulated data or information (“Data Security Obligations”); (ii) the Company and its subsidiaries have not
received any written notification of or written complaint regarding and are unaware of any other facts that, individually or in the
aggregate, would reasonably indicate non-compliance in any material respect with any Data Security Obligation by
the Company or any of its subsidiaries; and (iii) to the knowledge of the Company, there is no action, suit or proceeding by
or before any court or governmental agency, authority or body pending or to the knowledge of the Company or its subsidiaries
threatened alleging non-compliance with any Data Security Obligation by the Company or any of
its subsidiaries; except in the case of each of clauses (i), (ii) and (iii) as would not reasonably be expected to result in
a Material Adverse Effect on the Company and its subsidiaries taken as a whole.

 

    9

     

    

 

(aa)
No Undisclosed Relationships. No relationship, direct or indirect, exists between or among the Company or any of its subsidiaries,
on the one hand, and the directors, officers, shareholders or other affiliates of the Company or any of its subsidiaries, on the other,
that is required by the Securities Act to be described in each of the Pre-Effective Registration Statement, the Registration Statement,
the Preliminary Prospectus and the Prospectus and that is not so described in such documents.

 

(bb)
Investment Company Act. The Company is not, and after giving effect to the consummation of the Exchange Offer or the Consent
Solicitation will not be, required to register as an “investment company” or an entity “controlled” by an “investment
company” within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations of the Commission thereunder
(collectively, the “Investment Company Act”).

 

(cc) Taxes. The Company and each
of its subsidiaries have filed all U.S. federal, state, local and non-U.S. tax returns required to be filed through the date of this
Agreement or have requested extensions thereof (except where the failure to file would not, singly or in the aggregate, have a Material
Adverse Effect on the Company and its subsidiaries, taken as a whole) and have paid all taxes required to be paid thereon (except for
cases in which the failure to pay would not, singly or in the aggregate, have a Material Adverse Effect on the Company and its subsidiaries,
taken as a whole, or, except as currently being contested in good faith and for which reserves required by GAAP have been created in
the financial statements of the Company), and no tax deficiency has been determined adversely to the Company or any of its subsidiaries
which, singly or in the aggregate, has had (nor does the Company nor any of its subsidiaries have any notice or knowledge of any tax
deficiency which could reasonably be expected to be determined adversely to the Company or its subsidiaries and which could reasonably
be expected to have) a Material Adverse Effect on the Company and its subsidiaries, taken as a whole.

 

(dd) Licenses and Permits. The
Company and each of its subsidiaries possess all certificates, authorizations and permits issued by the appropriate federal, state
or foreign regulatory authorities necessary to conduct their respective businesses, except to the extent that the failure to possess
such certificates, authorizations or permits would not reasonably be expected to have a Material Adverse Effect on the Company and
its subsidiaries, taken as a whole, and neither the Company nor any of its subsidiaries has received any written notice of
proceedings relating to the revocation or modification of any such certificate, authorization or permit which, singly or in the
aggregate, if the subject of an unfavorable decision, ruling or finding, would have a Material Adverse Effect on the Company and its
subsidiaries, taken as a whole.

 

    10

     

    

 

(ee)   
No Labor Disputes. No material labor dispute with the employees of the Company or any of its subsidiaries exists, or, to
the knowledge of the Company, is imminent; and the Company is not aware of any existing, threatened or imminent labor disturbance by the
employees of any of its principal suppliers, manufacturers or contractors that could, singly or in the aggregate, have a Material Adverse
Effect on the Company and its subsidiaries, taken as a whole.

 

(ff) Certain
Environmental Matters. The Company and each of its subsidiaries (A) are in compliance with any and all applicable foreign,
federal, state and local laws and regulations relating to the protection of human health and safety, the environment or hazardous or
toxic substances or wastes, pollutants or contaminants (“Environmental Laws”), (B) have received all permits,
licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses and (C) are
in compliance with all terms and conditions of any such permit, license or approval, except where such noncompliance with
Environmental Laws, failure to receive required permits, licenses or other approvals or failure to comply with the terms and
conditions of such permits, licenses or approvals would not, singly or in the aggregate, reasonably be expected to have a Material
Adverse Effect on the Company and its subsidiaries, taken as a whole.

 

(gg) Compliance with ERISA.
(i) Each employee benefit plan, within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as
amended (“ERISA”), for which the Company or any member of its “Controlled Group” (defined as
any entity, whether or not incorporated, that is under common control with the Company within the meaning of Section 4001(a)(14) of
ERISA or any entity that would be regarded as a single employer with the Company under Section 414(b),(c),(m) or (o) of the Internal
Revenue Code of 1986, as amended (the “Code”)) would have any liability (each, a “Plan”) has
been maintained in compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations,
including but not limited to ERISA and the Code; (ii) no prohibited transaction, within the meaning of Section 406 of ERISA or
Section 4975 of the Code, has occurred with respect to any Plan, excluding transactions effected pursuant to a statutory or
administrative exemption; (iii) for each Plan that is subject to the funding rules of Section 412 of the Code or Section 302 of
ERISA, no Plan has failed (whether or not waived), or is reasonably expected to fail, to satisfy the minimum funding standards
(within the meaning of Section 302 of ERISA or Section 412 of the Code) applicable to such Plan; (iv) no Plan is, or is reasonably
expected to be, in “at risk status” (within the meaning of Section 303(i) of ERISA) and no Plan that is a
“multiemployer plan” within the meaning of Section 4001(a)(3) of ERISA is in “endangered status” or
“critical status” (within the meaning of Sections 304 and 305 of ERISA); (v) the fair market value of the assets of each
Plan exceeds the present value of all benefits accrued under such Plan (determined based on those assumptions used to fund such
Plan); (vi) no “reportable event” (within the meaning of Section 4043(c) of ERISA and the regulations promulgated
thereunder) has occurred or is reasonably expected to occur; (vii) each Plan that is intended to be qualified under Section 401(a)
of the Code is subject to a favorable determination letter or advisory opinion, as applicable, from the Internal Revenue Service,
and nothing has occurred, whether by action or by failure to act, that, to the best knowledge of the Company, is reasonably likely
to result in the revocation of any such determination or opinion, as applicable; and (viii) none of the following events has
occurred or is reasonably likely to occur: (A) a material increase in the aggregate amount of contributions required to be made to
all Plans by the Company or its Controlled Group affiliates in the current fiscal year of the Company and its Controlled Group
affiliates compared to the amount of such contributions made in the Company’s and its Controlled Group affiliates’ most
recently completed fiscal year; or (B) a material increase in the Company and its subsidiaries’ “accumulated
post-retirement benefit obligations” (within the meaning of Accounting Standards Codification Topic 715-60) compared to the
amount of such obligations in the Company and its subsidiaries’ most recently completed fiscal year, except in each case with
respect to the events or conditions set forth in (i) through (viii) hereof, as would not, individually or in the aggregate, have a
Material Adverse Effect.

 

    11

     

    

 

(hh) Sarbanes-Oxley; Internal
Accounting Controls. Except as disclosed in the Preliminary Prospectus and Prospectus (A) the Company and its subsidiaries are
in compliance with any and all applicable requirements of the Sarbanes-Oxley Act of 2002 that are effective as of the date hereof,
and any and all applicable rules and regulations promulgated by the Commission thereunder that are effective as of the date hereof,
as of the Commencement Date and as of the Exchange Date; (B) the Company and its subsidiaries maintain a system of internal
accounting controls sufficient to provide reasonable assurance that: (i) transactions are executed in accordance with
management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of
financial statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets is permitted only in
accordance with management’s general or specific authorization, and (iv) the recorded accountability for assets is compared
with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences; and (C) the
Company and its subsidiaries have established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and
15d-15(e)) for the Company and its subsidiaries and designed such disclosure controls and procedures to ensure that information
required to be disclosed by the Company in the reports it files with or submits to the Commission pursuant to the Exchange Act is
recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. The
Company’s certifying officers have evaluated the effectiveness of the disclosure controls and procedures of the Company and
its subsidiaries as of the end of the period covered by the most recently filed periodic report under the Exchange Act (such date,
the “Evaluation Date”). The Company presented in its most recently filed periodic report under the Exchange Act
the conclusions of the certifying officers about the effectiveness of the disclosure controls and procedures based on their
evaluations as of the Evaluation Date. Since the Evaluation Date, there has been (i) no material weakness in the Company’s
internal control over financial reporting (whether or not remediated) and (ii) no change in the Company’s internal control
over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company’s internal
control over financial reporting.

 

(ii) Insurance. The
Company and each of its subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks
and in such amounts as are prudent and customary in the businesses in which they are engaged; neither the Company nor any of its
subsidiaries has been refused any insurance coverage sought or applied for; and neither the Company nor any of its subsidiaries has
any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to
obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not, singly or in
the aggregate, have a Material Adverse Effect on the Company and its subsidiaries, taken as a whole.

 

    12

     

    

 

(jj) No
Unlawful Payments. (i) None of the Company or any of its subsidiaries, or any director or officer thereof, or, to the
Company’s knowledge, any employee, agent or representative while acting on behalf of the Company or of any of its
subsidiaries, has taken or will take any action in furtherance of an offer, payment, promise to pay, or authorization or approval of
the payment, giving or receipt of money, property, gifts or anything else of value, directly or indirectly, to any government
official (including any officer or employee of a government or government-owned or controlled entity or of a public international
organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party
official or candidate for political office) in order to influence official action, or to any person in violation of any applicable
anti-corruption laws; (ii) the Company and each of its subsidiaries have conducted their businesses in compliance with applicable
anti-corruption laws and have instituted and maintained and will continue to maintain policies and procedures reasonably designed to
promote and achieve compliance with such laws and with the representations and warranties contained herein; and (iii) neither the
Company nor any of its subsidiaries will use, directly or knowingly indirectly, the proceeds of the offering in furtherance of an
offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any person in
violation of any applicable anti-corruption laws.

 

(kk) Foreign Corrupt Practices
Act and UK Bribery Act 2010. None of the Company, any of its subsidiaries, directors, officers or, to the knowledge of the
Company, any agent, employee, affiliate or other person acting on behalf of the Company or any of its subsidiaries is aware of or
has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act
of 1977, as amended, and the rules and regulations thereunder (the “FCPA”), the U.K. Bribery Act of 2010, as
amended, and the rules thereunder (the “UK Act”), or similar applicable law of any other jurisdiction or the
rules and regulations under the FCPA, UK Act or similar applicable law of any other jurisdiction including, without limitation, (i)
using any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political
activity or (ii) making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an
offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or
authorization of the giving of anything of value to any “foreign official” (as such term is defined in the FCPA) or any
foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA, the UK Act
or similar applicable law of any other jurisdiction and the Company and, to the knowledge of the Company, its affiliates have
conducted their businesses in compliance with the FCPA, the UK Act or similar applicable law of any other jurisdiction and have
instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure,
continued compliance therewith.

 

    13

     

    

 

(ll) Compliance
with Anti-Money Laundering Laws. The operations of the Company and each of its subsidiaries are and have been conducted at all
times in material compliance with all applicable financial recordkeeping and reporting requirements, including those of the Bank
Secrecy Act, as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept
and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), and the applicable anti-money laundering statutes of jurisdictions where the
Company and each of its subsidiaries conduct business, the rules and regulations thereunder and any related or similar rules,
regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Anti-Money
Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body or
any arbitrator involving the Company or any of its subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the
best knowledge of the Company, threatened.

 

(mm) OFAC. None of the
Company, any of its subsidiaries, directors, officers or, to the knowledge of the Company, any agent, employee, affiliate or
representative of the Company or any of its subsidiaries is an individual or entity (“Person”) currently the
subject or target of any sanctions administered or enforced by the United States Government, including, without limitation, the U.S.
Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), the United Nations Security Council
(“UNSC”), the European Union, Her Majesty’s Treasury (“HMT”), or other relevant
sanctions authority (collectively, “Sanctions”), nor is the Company located, organized or resident in a country
or territory that is the subject of country-wide or territory-wide Sanctions (as of the date of this Agreement, the Crimea region of
Ukraine, the so-called Donetsk People’s Republic, the so-called Luhansk People’s Republic, Cuba, Iran, Syria, or North
Korea) (each a “Sanctioned Country”); and the Company will not directly or indirectly use the proceeds of the
sale of the Shares in connection with the Exchange Offer, or lend, contribute or otherwise make available such proceeds to any
subsidiaries, joint venture partners or other Person, to fund any activities of or business with any Person, or in any country or
territory, that, at the time of such funding, is the subject of Sanctions or in any other manner that will result in a violation by
any Person (including any Person participating in the transaction, whether as underwriter, advisor, investor or otherwise) of
Sanctions. For the past five years, the Company and its subsidiaries have not knowingly engaged in, and are not now knowingly
engaged in any dealings or transactions with any person that at the time of the dealing or transaction is or was the subject or the
target of Sanctions or with a Sanctioned Country, except as would be permissible under relevant Sanctions.

 

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(nn)
No Conflicts with Sanctions Laws. (i) None of the Company, any of its subsidiaries, or any director, officer, or, to the
Company’s knowledge, any employee, agent, affiliate or representative of the Company or any of its subsidiaries, is a Person that
is, or is owned or controlled by one or more Persons that are:

 

(A) the subject of applicable Sanctions,
or

 

(B) 
located, organized or resident in a Sanctioned Country.

 

The Company will not, directly or knowingly
indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture
partner or other Person:

 

(C) 
to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such
funding or facilitation, is the subject of Sanctions prohibiting such funding or facilitation; or

 

(D) in any other manner that will result
in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor
or otherwise).

 

(oo)
The Company and each of its subsidiaries have not knowingly engaged in, are not now knowingly engaged in, and will not knowingly
engage in, any dealings or transactions with any Person, or in any Sanctioned Country, in violation of Sanctions.

 

(pp)
No Restrictions on Subsidiaries. Except as described in the Pre-Effective Registration Statement, the Registration Statement,
the Preliminary Prospectus and the Prospectus, no subsidiary of the Company is currently prohibited, directly or indirectly, under any
agreement or other instrument to which it is a party or is subject, from paying any dividends to the Company, from making any other distribution
on such subsidiary’s capital stock or similar ownership interest, from repaying to the Company any loans or advances to such subsidiary
from the Company or form transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the
Company.

 

(qq)
No Solicitation. The Company has not paid or agreed to pay to any person any compensation for (i) soliciting another
to purchase any of its securities or (ii) soliciting tenders or Consents by holders of Warrants pursuant to the Exchange Offer (except
as contemplated in this Agreement).

 

(rr) No
Registration Rights. Except as described in the Pre-Effective Registration Statement, the Registration Statement, the
Preliminary Prospectus and the Prospectus, no person has the right to require the Company or any of its subsidiaries to register any
securities for sale under the Securities Act by reason of the filing of the Pre-Effective Registration Statement or the Registration
Statement with the Commission.

 

    15

     

    

 

(ss)
No Stabilization. The Company has not taken, directly or indirectly, any action designed to or that could reasonably be
expected to cause or result in any stabilization or manipulation of the price of any security of the Company to facilitate the Exchange
Offer.

 

(tt)  Dividend
Restrictions. All dividends and other distributions declared and payable on the share capital of the Company, now or in the
future, may, under the current laws and regulations of Israel, be paid in United States Dollars that (subject to any applicable
Sanctions) may be freely transferred out of Israel. Except as otherwise disclosed in the Pre-Effective Registration Statement, the
Registration Statement, the Preliminary Prospectus and the Prospectus, no subsidiary of the Company is prohibited or restricted,
directly or indirectly, from paying dividends to the Company, or from making any other distribution with respect to such
subsidiary’s equity securities or from repaying to the Company or any other subsidiary of the Company any amounts that may
from time to time become due under any loans or advances to such subsidiary from the Company or from transferring any property or
assets to the Company or to any other subsidiary.

 

(uu)
Foreign Private Issuer. The Company is a “foreign private issuer” within the meaning of Rule 405 under the Securities
Act (a “Foreign Private Issuer”).

 

(vv)
No Transfer Taxes or Other Fees. There are no transfer, stamp, issue, registration, documentary taxes or other similar fees
or charges under the laws of Israel, U.S. federal law or the laws of any state, or any political subdivision thereof, required to be paid
in connection with the execution and delivery by the Company of this Agreement of the exchange by the Company of the Warrants.

 

(ww) No
Right of Immunity. Under the laws of Israel, the Company would not be entitled to invoke immunity from jurisdiction or immunity
from execution in respect of any action arising out of its obligations under this Agreement.

 

(xx)
Choice of Law. The choice of law of the State of New York as the governing law of this Agreement is a valid choice of law
under Israeli laws and any political subdivision thereof, and courts of Israel should honor this choice of law, subject to the exercise
of judicial discretion and the following: (i) a reasonable nexus exists between New York law and the transactions contemplated by the
applicable contract; (ii) the Israeli court may refuse to apply New York law if such application would generate a result deemed by such
court to be incompatible with the public policy of the State of Israel; and (iii) certain laws of the State of Israel may be deemed to
apply to transactions conducted within or related to the State of Israel, even if such laws contradict New York law.

 

(yy) Forward-Looking
Statements. No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the
Exchange Act) included in any of the Pre-Effective Registration Statement, the Registration Statement, the Preliminary Prospectus or
the Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.

 

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(zz)
Sarbanes-Oxley Act. There is and has been no failure on the part of the Company or any of the Company’s directors
or officers, in their capacities as such, to comply with any provision of the Sarbanes-Oxley Act of 2002, as amended, and the rules and
regulations promulgated in connection therewith, including Section 402 related to loans and Sections 302 and 906 related to certifications.

 

(aaa) Registration Fees.
The Company has paid the registration fee for the Registration Statement pursuant to Rule 456(a) under the Securities Act or will
pay such fee within the time period required by such rule and in any event prior to the Exchange Date.

 

(bbb) No Ratings. There are
(and prior to the Exchange Date, there will be) no debt securities or preferred stock issued or guaranteed by the Company or any of
its subsidiaries that are rated by a “nationally recognized statistical rating organization”, as such term is defined
under Section 3(a)(62) under the Exchange Act.

 

Any certificate signed by any officer of the Company
and delivered to the Dealer Manager or counsel for the Dealer Manager in connection with the Exchange Offer shall be deemed a representation
and warranty by the Company as to matters covered thereby to the Dealer Manager.

 

4.
Representations, Warranties and Agreements of the Dealer Manager. The Dealer Manager hereby represents, warrants
and agrees that the Dealer Manager will not (1) cause to be disseminated to holders, dealers or the public any written material
for or in connection with the Exchange Offer or Consent Solicitation other than one or more of the Offering Documents, or (2) make
any public oral communications relating to the Exchange Offer or the Consent Solicitation that have not been previously approved by the
Company except as contemplated in the penultimate sentence of Section 6 of this Agreement.

 

5.
Agreements. The Company agrees with the Dealer Manager that:

 

(a)
The Company will furnish to the Dealer Manager and to counsel for the Dealer Manager, without charge, during the period beginning
on the Commencement Date and continuing to and including the Exchange Date, copies of the Offering Documents and any amendments and supplements
thereto in such quantities as the Dealer Manager may reasonably request.

 

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(b) Prior to the termination of
the Exchange Offer and the Consent Solicitation, the Company will not file any amendment to the Pre-Effective Registration Statement
or the Registration Statement or supplement to the Preliminary Prospectus or the Prospectus unless the Company has furnished the
Dealer Manager a copy of such proposed amendment or supplement, as applicable, for its review prior to filing and will not file any
such proposed amendment or supplement to which the Dealer Manager reasonably objects. Subject to the foregoing sentence, if the
Registration Statement has become or becomes effective, or filing of the Preliminary Prospectus or the Prospectus is otherwise
required under the Securities Act or the Exchange Act and the rules and regulations of the Commission thereunder, the Company will
cause the Preliminary Prospectus or the Prospectus, properly completed, and any supplement thereto to be filed with the Commission
pursuant to the applicable paragraph of Rule 424(b) or in an amendment to the Registration Statement, whichever is applicable,
within the time period prescribed. The Company will promptly advise the Dealer Manager (i) when the Registration Statement, and
any amendment thereto, shall have become effective, (ii) when the Preliminary Prospectus or the Prospectus, and any supplement
thereto, shall have been filed (if required) with the Commission, (iii) when, prior to termination of the Exchange Offer and
the Consent Solicitation, any amendment to the Registration Statement shall have been filed or become effective, (iv) of any
request by the Commission or its staff for any amendment of the Pre-Effective Registration Statement or the Registration Statement
or supplement to the Preliminary Prospectus or the Prospectus or for any additional information, (v) the issuance by the
Commission of any stop order or of any order preventing or suspending the use of the Preliminary Prospectus or the Prospectus, or
the initiation or threatening of any proceeding for any such purpose, and (vi) of the receipt by the Company of any
notification with respect to the suspension of the qualification of the Shares for sale in any jurisdiction within the United States
or the initiation or threatening of any proceeding for such purpose. In the event of the issuance of any such stop order or of any
such order preventing or suspending the use of the Preliminary Prospectus or the Prospectus, the Company will use its reasonable
best efforts to obtain its withdrawal. The Company agrees to use its reasonable best efforts to cause the Registration Statement to
become effective as soon as practicable and as much in advance of the Expiration Date as practicable.

 

(c) The Company will comply with
the Securities Act and the Exchange Act and the rules and regulations of the Commission thereunder so as to permit the completion of
the distribution of the Shares issued in the Exchange Offer and Consent Solicitation, as contemplated by this Agreement, the
Registration Statement and the Prospectus. If, at any time when a prospectus relating to the Exchange Offer or Consent Solicitation
is required to be delivered under the Securities Act or the Exchange Act and the rules and regulations of the Commission thereunder,
any event occurs as a result of which the Offering Documents, as then amended or supplemented, would include any untrue statement of
a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading, or if it should be necessary to amend or supplement the Offering Documents to comply with
applicable law, the Company will promptly: (i) notify the Dealer Manager of any such event or non-compliance at which time the
Dealer Manager shall be entitled to cease soliciting tenders until such time as the Company has complied with clause (iii) of this
sentence; (ii) subject to the requirements of the first sentence of the above paragraph (b), prepare an amendment or supplement
that will correct such statement or omission or effect such compliance; and (iii) supply any such amendment or supplement to the
Dealer Manager and counsel for the Dealer Manager without charge in such quantities as the Dealer Manager may reasonably request.
The Company will also promptly inform the Dealer Manager of any litigation or administrative action with respect to the Exchange
Offer.

 

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(d)
The Company agrees to advise the Dealer Manager promptly of (i) any proposal by the Company to withdraw, rescind or modify
the Offering Documents or to withdraw, rescind or terminate the Exchange Offer or the Consent Solicitation or the exercise by the Company
of any right not to exchange the Warrants pursuant to the Exchange Offer or the Consent Solicitation, (ii) its awareness of the issuance
of a stop order suspending the effectiveness of the Registration Statement or of any notice objecting to its use by the Commission or
any other regulatory authority, or the institution or threatening of any proceedings for that purpose (and will promptly furnish the Dealer
Manager with a copy of any such order), (iii) its awareness of the occurrence of any development that could reasonably be expected to
result in a Material Adverse Change relating to or affecting the Exchange Offer or the Consent Solicitation and (iv) any other non-privileged
information relating to the Exchange Offer, the Consent Solicitation, the Offering Documents or this Agreement which the Dealer Manager
may from time to time reasonably request.

 

(e)
The Company will make generally available to its security holders and the Dealer Manager as soon as practicable an earning statement
that satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 of the Commission promulgated thereunder covering a
period of at least twelve months beginning with the first fiscal quarter of the Company occurring after the “effective date”
(as defined in Rule 158) of the Registration Statement.

 

(f)
The Company will arrange, if necessary, for the qualification of the Shares for offer or sale in connection with the Exchange Offer
under the laws of such jurisdictions as the Dealer Manager may designate and will maintain such qualifications in effect so long as required
for such offer or sale; provided that in no event shall the Company be obligated to qualify to do business in any jurisdiction
in which it is not now so qualified or to take any action that would subject it to service of process in suits, other than those arising
out of the offering or sale of the Shares in connection with the Exchange Offer, in any jurisdiction in which it is not now so subject.
The Company will promptly advise the Dealer Manager of the receipt by the Company of any notification with respect to the suspension of
the qualification of the Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose.

 

(g)
Prior to the termination of the Exchange Offer, the Company will not, and will not permit any of its Affiliates to, resell any
Shares that have been acquired by them. The Company will cause all Warrants accepted in the Exchange Offer to be cancelled.

 

(h)
The Company will cooperate with the Dealer Manager to permit the Shares to be eligible for clearance and settlement through The
Depository Trust Company.

 

    19

     

    

 

(i)  
 The Company agrees not to exchange any Warrants during the period beginning on the Commencement Date and ending on the Exchange
Date except pursuant to and in accordance with the Exchange Offer, the Consent Solicitation or as otherwise agreed to in writing by the
parties hereto and permitted under applicable laws and regulations.

 

(j)    
None of the Company, its Affiliates or any person acting on its or their behalf will take, directly or indirectly, any action that
is designed to cause or result, or which might reasonably be expected to cause or result, under the Exchange Act or otherwise, in stabilization
or manipulation of the price of any security of the Company to facilitate the sale of the Shares or the tender of Warrants in the Exchange
Offer.

 

(k)
The Company has arranged for Morrow Sodali LLC to serve as Information Agent and for Continental Stock Transfer & Trust Company
to serve as Exchange Agent and authorizes the Dealer Manager to communicate with each of the Information Agent and the Exchange Agent
to facilitate the Exchange Offer and the Consent Solicitation.

 

(l)    
The Company will comply in all material respects with the Securities Act and the Exchange Act and the rules and regulations of
the Commission thereunder, including Rule 13e-4 and Rule 14e-1 under the Exchange Act (including taking the actions necessary to ensure
that the procedural requirements of Rule 14e-1 are satisfied), in connection with the Exchange Offer, the Consent Solicitation, the Offering
Documents and the transactions contemplated hereby and thereby. The Company will file with the Commission pursuant to Rule 13e-4(c)(1)
under the Exchange Act (or Rule 425 under the Securities Act) or otherwise all written communications made by the Company or any affiliate
of the Company in connection with or relating to the Exchange Offer or the Consent Solicitation that are required to be filed with the
Commission, in each case on the date of their first use.

 

(m) The Company agrees to pay the
costs and expenses relating to the transactions contemplated hereunder, including without limitation the following: (i) the
preparation of this Agreement, the issuance of the Shares and the fees of the Information Agent and the Exchange Agent; (ii) the
preparation, printing or reproduction of the Offering Documents and each amendment or supplement thereto; (iii) the printing (or
reproduction) and delivery (including postage, air freight charges and charges for counting and packaging) of such copies of the
Offering Documents (and all amendments or supplements thereto) as may, in each case, be reasonably requested for use in connection
with the Exchange Offer; (iv) the preparation, printing, authentication, issuance and delivery of certificates for the Shares,
including any stamp or transfer taxes in connection with the original issuance and sale of the Shares; (v) the printing (or
reproduction) and delivery of this Agreement, any blue sky memorandum and all other agreements or documents printed (or reproduced)
and delivered in connection with the Exchange Offer; (vi) any registration or qualification of the Shares for offer and sale under
the blue sky laws of the several states or any non-U.S. jurisdiction; (vii) transportation and other expenses incurred by or on
behalf of Company representatives in connection with presentations to prospective participants in the Exchange Offer; (viii) the
fees and expenses of the Company’s accountants and the fees and expenses of counsel (including local and special counsel) for
the Company; (ix) fees and expenses incurred in connection with listing the Shares on the Nasdaq Stock Market; and (x) all other
costs and expenses incident to the performance by the Company of its obligations hereunder and in connection with the Exchange
Offer.

 

    20

     

    

 

(n)
The Company will promptly notify the Dealer Manager if the Company ceases to be an Emerging Growth Company or Foreign Private Issuer
at any time prior to the Exchange Date.

 

6.
Conditions to the Obligations of the Dealer Manager. The obligations of the Dealer Manager under this Agreement shall
be subject to the accuracy of the representations and warranties on the part of the Company contained herein at the Commencement Date,
any date on which Offering Documents are distributed to holders of the Warrants, the Effective Date, the Expiration Date and the Exchange
Date, to the accuracy of the statements of the Company made in any certificates pursuant to the provisions hereof, to the performance
by the Company of its obligations hereunder and to the following additional conditions:

 

(a)
The Registration Statement shall have become effective on or prior to the Expiration Date.

 

(b)
As of the Exchange Date, no stop order suspending the effectiveness of the Registration Statement or any notice objecting to its
use shall have been issued and no proceedings for that purpose shall have been instituted or, to the knowledge of the Company, threatened
by the Commission; and the Prospectus shall have been timely filed with the Commission under the Securities Act; and all requests by the
Commission for additional information shall have been complied with to the reasonable satisfaction of the Dealer Manager.

 

(c)
At the Commencement Date and the Exchange Date, the Company shall have requested and caused an opinion and negative assurance letter
of White & Case LLP, counsel to the Company, dated the Commencement Date or Exchange Date, as applicable, in form and substance reasonably
satisfactory to the Dealer Manager to have been delivered to the Dealer Manager, in each case addressed to, and in form and substance
satisfactory to, the Dealer Manager.

 

(d)
At the Commencement Date and the Exchange Date, the Company shall have requested and caused the favorable opinion of Goldfarb Seligman
& Co., Israeli counsel for the Company, dated the Commencement Date or Exchange Date, as applicable, in form and substance reasonably
satisfactory to the Dealer Manager to have been delivered to the Dealer Manager, in each case addressed to, and in form and substance
satisfactory to, the Dealer Manager.

 

(e) At the Commencement Date and
the Exchange Date, the Dealer Manager shall have received from Davis Polk & Wardwell LLP, counsel for the Dealer Manager, such
opinion and negative assurance letter, in each case addressed to the Dealer Manager with respect to the Exchange Offer, as the
Dealer Manager may reasonably require, and the Company shall have furnished to such counsel such documents as they request for the
purposes of enabling them to pass upon such matters.

 

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(f)
At the Exchange Date, the Company shall have furnished to the Dealer Manager a certificate of the Company, signed by the Chairman
of the Board or the Chief Financial Officer and the principal financial or accounting officer of the Company, dated as of the Exchange
Date, to the effect that the signers of such certificate have carefully examined the Offering Documents, any amendment or supplement to
the Offering Documents and this Agreement and that:

 

(i) the
representations and warranties of the Company in this Agreement are true and correct as of the Exchange Date with the same effect as if
made on the Exchange Date, and the Company has complied with all the agreements and satisfied all the conditions on its part to be performed
or satisfied hereunder at or prior to the Exchange Date;

 

(ii)  no
stop order suspending the effectiveness of the Registration Statement has been issued and no proceedings for that purpose have been instituted
or threatened by the Commission; and

 

(iii) since
the date of the most recent financial statements included or incorporated by reference in the Offering Documents (exclusive of any amendment
or supplement thereto), there has been no Material Adverse Change, except as set forth in or contemplated in the Offering Documents (exclusive
of any amendment or supplement thereto).

 

(g)
At each of the Commencement Date and the Exchange Date, the Company shall have requested and caused Kost Forer Gabbay & Kasierer,
a member of Ernst & Young Global, to furnish to the Dealer Manager letters, dated respectively as of the Commencement Date and the
Exchange Date, in form and substance reasonably satisfactory to the Dealer Manager.

 

(h) Subsequent
to the Commencement Date or, if earlier, the dates as of which information is given in the Offering Documents (exclusive of any amendment
or supplement thereto), there shall not have been (i) any change or decrease specified in the letters referred to in paragraph (f) of
this Section 6 or (ii) any change, or any development involving a prospective change, in or affecting the condition (financial or otherwise),
prospects, earnings, business or properties the Company and its subsidiaries, taken as a whole, whether or not arising from transactions
in the ordinary course of business, except as set forth in or contemplated in the Offering Documents (exclusive of any amendment or supplement
thereto), the effect of which, in any case referred to in clause (i) or (ii) above, is, in the reasonable judgment of the Dealer Manager,
so material and adverse as to make it impractical or inadvisable to market or deliver the Shares or solicit tenders of Warrants as contemplated
by the Offering Documents (exclusive of any amendment or supplement thereto).

 

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(i) Prior to the Exchange
Date, the Company shall have obtained all consents, approvals, authorizations and orders of, and shall have duly made all registrations,
qualifications and filing with, any court or regulatory authority or other governmental agency or instrumentality required in connection
with the making and consummation of the Exchange Offer and the execution, delivery and performance of this Agreement.

 

(j) Prior
to the Exchange Date, the Company shall have delivered to the Dealer Manager and its counsel such further information, certificates and
documents as they may reasonably request.

 

(k) Prior
to the Exchange Date, the Shares shall have been approved for listing, subject to notice of issuance, on the Nasdaq Stock Market.

 

If (i) any of the conditions specified in this
Section 6 shall not have been fulfilled when and as provided in this Agreement, or (ii) any of the opinions and certificates mentioned
above or elsewhere in this Agreement shall not be reasonably satisfactory in form and substance to the Dealer Manager and its counsel,
this Agreement and all obligations of the Dealer Manager hereunder may be cancelled by the Dealer Manager at, or at any time prior to,
the Exchange Date. In such event, the Dealer Managers shall be entitled to publicly disclose the cancellation of its participation in
the Exchange Offer via press release, subject to prior notification of the Company. Notice of such cancellation shall be given to
the Company in writing or by telephone or facsimile confirmed in writing.

 

7.
Indemnification and Contribution.

 

(a) The Company agrees to
indemnify and hold harmless the Dealer Manager, the directors, officers, employees, agents and Affiliates of the Dealer Manager and
each person who controls the Dealer Manager within the meaning of either the Securities Act or the Exchange Act against any and all
losses, claims, damages or liabilities, joint or several, to which the Dealer Manager may become subject under the Securities Act,
the Exchange Act or other federal, state or foreign statutory law or regulation, at common law or otherwise, insofar as such losses,
claims, damages or liabilities (or actions in respect thereof) relate to, arise out of, or are based upon (1) any untrue statement
or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment or supplement thereto), or
the omission or alleged omission therefrom of a material fact required to be stated therein or necessary in order to make the
statements therein not misleading, (2) any untrue statement or alleged untrue statement of a material fact contained in the
Preliminary Prospectus, the Prospectus, the accompanying letter of transmittal and consent, the Schedule TO, the Rule 165 Material,
the notice of guaranteed delivery, and all other documents filed or to be filed with any federal, state or local government or
regulatory agency or authority in connection with the Exchange Offer or the Consent Solicitation, each as prepared or approved by
the Company, or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading, (3) the Company’s failure to make or consummate the
Exchange Offer or the withdrawal, rescission, termination, amendment or extension of the Exchange Offer or any failure on the
Company’s part to comply with the terms and conditions contained in the Offering Documents, (4) any action or failure to act
by the Company or its respective directors, officers, agents or employees or by any indemnified party at the request or with the
consent of the Company in connection with the consummation of the Exchange Offer in accordance with the terms and conditions
contained in the Offering Documents, or (5) otherwise related to or arising out of the Dealer Manager’s engagement hereunder
or any transaction or conduct in connection therewith, except that clauses (3), (4) and (5) shall not apply with respect to the
portion of any losses that are finally judicially determined by a court of competent jurisdiction to have resulted primarily from
the bad faith, gross negligence or willful misconduct of such indemnified party, and in the case of clause (1), (2), (3) or (4) of
this sentence, the Company agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably
incurred by it in connection with investigating or defending any such loss, claim, damage, liability or action; provided,
however, that the Company will not be liable in any such case to the extent that any such loss, claim, damage or liability
arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made in the
Offering Documents, or in any amendment thereof or supplement thereto, in reliance upon and in conformity with the Dealer Manager
Information. This indemnity agreement will be in addition to any liability that the Company may otherwise have.

 

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(b)
The Dealer Manager agrees to indemnify and hold harmless the Company, each of its directors, officers, employees and agents and
each person who controls the Company within the meaning of the Securities Act or the Exchange Act to the same extent as the foregoing
indemnity from the Company to the Dealer Manager, but only with reference to the Dealer Manager Information. This indemnity agreement
will be in addition to any liability that the Dealer Manager may otherwise have.

 

(c) Promptly after receipt by an
indemnified party under this Section 7 of notice of the commencement of any action, such indemnified party will, if a claim in
respect thereof is to be made against the indemnifying party under this Section 7, notify the indemnifying party in writing of the
commencement thereof; but the failure so to notify the indemnifying party (i) will not relieve it from liability under paragraph (a)
or (b) above unless and to the extent it did not otherwise learn of such action and such failure results in the forfeiture by the
indemnifying party of substantial rights and defenses and (ii) will not, in any event, relieve the indemnifying party from any
obligations to any indemnified party other than the indemnification obligation provided in paragraph (a) or (b) above. The
indemnifying party shall be entitled to appoint counsel (including local counsel) of the indemnifying party’s choice at the
indemnifying party’s expense to represent the indemnified party in any action for which indemnification is sought (in which
case the indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel, other than local
counsel if not appointed by the indemnifying party, retained by the indemnified party or parties except as set forth below); provided,
however, that such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding the indemnifying
party’s election to appoint counsel (including local counsel) to represent the indemnified party in an action, the indemnified
party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the
reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel chosen by the indemnifying party to represent
the indemnified party would present such counsel with a conflict of interest; (ii) the actual or potential defendants in, or targets
of, any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably
concluded that there may be legal defenses available to it and/or other indemnified parties that are different from or additional to
those available to the indemnifying party; (iii) the indemnifying party shall not have employed counsel satisfactory to the
indemnified party to represent the indemnified party within a reasonable time after notice of the institution of such action; or
(iv) the indemnifying party shall authorize the indemnified party to employ separate counsel at the expense of the indemnifying
party. An indemnifying party will not, without the prior written consent of the indemnified parties, settle or compromise or consent
to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which
indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to
such claim or action) unless such settlement, compromise or consent includes an unconditional release of each indemnified party from
all liability arising out of such claim, action, suit or proceeding; provided that, if at any time an indemnified party shall
have requested in writing that an indemnifying party reimburse the indemnified party for fees and expenses of counsel, the
indemnifying party agrees that it shall be liable for any settlement of the nature contemplated herein effected without its written
consent if (i) such settlement is entered into more than 60 days after receipt by the indemnifying party of the aforesaid request,
(ii) the indemnifying party shall have received notice of the terms of such settlement at least 45 days prior to such settlement
being entered into and (iii) the indemnifying party shall not have reimbursed such indemnified party in accordance with such request
prior to the date of such settlement.

 

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(d) In the event that the
indemnity provided in paragraph (a) or (b) of this Section 7 is unavailable to or insufficient to hold harmless an indemnified party
for any reason, the Company and the Dealer Manager agree to contribute to the aggregate losses, claims, damages and liabilities
(including legal or other expenses reasonably incurred in connection with investigating or defending same) (collectively, the
“Losses”) to which the Company and the Dealer Manager may be subject in such proportion as is appropriate to
reflect the relative benefits received by the Dealer Manager on the one hand and the Company on the other from the Exchange Offer.
If the allocation provided by the immediately preceding sentence is unavailable for any reason, the Company and the Dealer Manager
shall contribute in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of the
Company on the one hand and of the Dealer Manager on the other in connection with the statements, omissions, actions or failure to
act that resulted in such Losses, as well as any other relevant equitable considerations. The relative benefits received by the
Company on the one hand and the Dealer Manager on the other shall be deemed to be in the same proportion as the total value paid or
proposed to be paid to holders of Warrants pursuant to the Exchange Offer and the Consent Solicitation (whether or not consummated)
bears to the fees actually received by the Dealer Manager pursuant to Section 2 hereof (exclusive of amounts paid for reimbursement
of expenses or paid under this Agreement). For purposes of the preceding sentence, the total value paid or proposed to be paid to
holders of Warrants pursuant to the Exchange Offer and the Consent Solicitation shall equal (i) if the Exchange Offer or the
Consent Solicitation is consummated, the total market value of the Shares (as of the Expiration Date) issued in the Exchange Offer
and the Consent Solicitation, or (ii) if the Exchange Offer and the Consent Solicitation is not consummated, the total market
value (as of the date when the Exchange Offer is terminated or otherwise withdrawn by the Company) of the Shares issuable in the
Exchange Offer and the Consent Solicitation, based on the maximum number of Warrants that could be exchanged in the Exchange Offer
and the Consent Solicitation as described in the Preliminary Prospectus or Prospectus immediately before the termination or
withdrawal of the Exchange Offer and the Consent Solicitation. Relative fault shall be determined by reference to, among other
things, whether any untrue or any alleged untrue statement of a material fact or the omission or alleged omission to state a
material fact or any other alleged conduct relates to information provided by the Company or other conduct by the Company on the one
hand or the Dealer Manager on the other, the intent of the parties and their relative knowledge, access to information and
opportunity to correct or prevent such untrue statement or omission. The Company and the Dealer Manager agree that it would not be
just and equitable if contribution were determined by pro rata allocation or any other method of allocation that does not take
account of the equitable considerations referred to above. Notwithstanding anything to the contrary above (other than with respect
to uncovered losses), in no event shall BofA Securities, Inc. be responsible under this paragraph for any amounts in excess of the
amount of the compensation actually paid by the Company to BofA Securities, Inc. in connection with the engagement (exclusive of
amounts paid for reimbursement of expenses under the Agreement, including this Section 7, and amounts paid under this Section 7).
Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section 7, each person who controls the Dealer Manager within the meaning of either the
Securities Act or the Exchange Act and each director, officer, employee, agent and Affiliate of the Dealer Manager shall have the
same rights to contribution as such Dealer Manager, and each person who controls the Company within the meaning of either the
Securities Act or the Exchange Act and each officer, director and Affiliate of the Company shall have the same rights to
contribution as the Company, subject in each case to the applicable terms and conditions of this paragraph (d).

 

8. Certain
Acknowledgments. The Company understands that you and your affiliates (together, the “Group”) are engaged in
a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and
investment banking and research). Members of the Group and businesses within the Group generally act independently of each other,
both for their own account and for the account of clients. Accordingly, there may be situations where parts of the Group and/or
their clients either now have or may in the future have interests, or take actions, that may conflict with our interests. For
example, the Group may, in the ordinary course of business, engage in trading in financial products or undertake other investment
businesses for their own account or on behalf of other clients, including, but not limited to, trading in or holding long, short or
derivative positions in securities, loans or other financial products of the Company or other entities connected with the Exchange
Offer.

 

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In recognition of the foregoing, the Company agrees
that the Group is not required to restrict its activities as a result of this engagement, and that the Group may undertake any business
activity without further consultation with or notification to the Company. Neither this Agreement, the receipt by the Group of confidential
information nor any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty
of trust or confidence) that would prevent or restrict the Group from acting on behalf of other customers or for its own account. Furthermore,
the Company agrees that neither the Group nor any member or business of the Group is under a duty to disclose to the Company or use on
behalf of the Company any information whatsoever about or derived from those activities or to account for any revenue or profits obtained
in connection with such activities. However, consistent with the Group’s long-standing policy to hold in confidence the affairs
of its customers, the Group will not use confidential information obtained from the Company except in connection with its services to,
and its relationship with the Company.

 

The Company hereby acknowledges that you are acting
as principal and not as a fiduciary of the Company and the Company’s engagement of you in connection with the transactions contemplated
herein is as an independent contractor, on an arms-length basis under this Agreement with duties solely to the Company, and not in any
other capacity including as a fiduciary. Neither this Agreement, your performance hereunder nor any previous or existing relationship
between the Company and any member of or business within the Group will be deemed to create any fiduciary relationship. Neither this engagement,
nor the delivery of any advice in connection with this engagement, is intended to confer rights upon any persons not a party hereto (including
security holders, employees or creditors of the Company) as against the Group or their respective directors, officers, agents and employees.
Furthermore, the Company agrees that it is solely responsible for making its own judgments in connection with the transactions contemplated
herein (irrespective of whether any member of or business within the Group has advised or is currently advising the Company on related
or other matters).

 

9. Termination;
Representations, Acknowledgments and Indemnities to Survive.

 

(a)
Subject to clause (c) below, this Agreement may be terminated by the Company, at any time upon notice to the Dealer Manager,
if (i) at any time prior to the Exchange Date, the Exchange Offer and the Consent Solicitation is terminated or withdrawn by the Company
for any reason, or (ii) the Dealer Manager does not comply with all of its covenants under this Agreement.

 

(b) Subject to clause
(c) below, this Agreement may be terminated by the Dealer Manager, at any time upon notice to the Company, if (i) at any time
prior to the Exchange Date, the Exchange Offer and the Consent Solicitation is terminated or withdrawn by the Company for any
reason, (ii) the Company does not comply in all material respects with any covenant specified in Section 1, (iii) the Company shall
publish, send or otherwise distribute any amendment or supplement to the Offering Documents to which the Dealer Manager shall
reasonably object or which shall be reasonably disapproved by the counsel to the Dealer Manager or (iv) the Dealer Manager cancels
the Agreement pursuant to Section 6.

 

    26

     

    

 

(c)
The respective agreements, representations, warranties, acknowledgments, indemnities and other statements of the Company or its
officers and of the Dealer Manager set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of
any investigation made by or on behalf of the Dealer Manager or the Company or any of the officers, directors or controlling person of
the Company, and will survive delivery of and payment for the Shares. The provisions of Section 2, Section 5(m), Section 7, and Section
18 hereof, and this Section 10(c), shall survive the termination or cancellation of this Agreement.

 

10. 
Compliance with USA Patriot Act. In accordance with the requirements of the USA Patriot Act (Title III of Pub. L.
107-56 (signed into law October 26, 2001)), the Dealer Manager is required to obtain, verify and record information that identifies its
clients, including the Company, which information may include the name and address of its clients, as well as other information that will
allow the Dealer Manager to properly identify its clients.

 

11. 
Notices. All communications hereunder will be in writing and effective only on receipt, and, if sent to the Dealer
Manager, will be mailed or delivered to

 

BofA Securities, Inc.

One Bryant Park,

New York, NY 10036

Email: dg.ecm_execution_services@bofa.com

Attention: Syndicate Department

 

with a copy to:

Email: dg.ecm_legal@bofa.com

Attention: ECM Legal

with a copy to (which shall not constitute
notice):

Davis Polk & Wardwell LLP

450 Lexington Avenue,

New York, New York 10017

Email: derek.dostal@davispolk.com and
byron.rooney@davispolk.com

Attention: Derek Dostal and Byron Rooney

 

or, if sent to the Company, will be mailed
or delivered to

 

REE Automotive Ltd.

Kibbutz Glil-Yam 4690500, Israel

Email: avitalf@ree.auto

Attention: Avital Futterman, General Counsel
and Corporate Secretary

 

with a copy to (which shall not constitute
notice):

 

White & Case LLP

1221 Avenue of the Americas

New York, New York 10020-1095

Email: cdiamond@whitecase.com and laurakatherine.mann@whitecase.com

Attention: Colin Diamond and Laura Katherine Mann

 

    27

     

    

 

12.
Successors. This Agreement will inure to the benefit of and be binding upon the parties hereto and their respective
successors and the officers and directors and controlling persons referred to in Section 7 hereof, and, except as expressly set forth
in Section 5(k) hereof, no other person will have any right or obligation hereunder.

 

13.
Entire Agreement. Except for that certain engagement letter dated as of August 11, 2022 between the Company and the
Dealer Manager (the “Engagement Letter”), this Agreement, and any documents referred to in it, constitute the whole
agreement between the parties and supersede any arrangements, understanding or previous agreement between them relating to the subject
matter they cover. In the event of any inconsistency between this Agreement and any documents referred to in it, the terms of this Agreement
shall prevail.

 

14.  Submission
to Jurisdiction; Waiver of Immunity. Any legal suit, action or proceeding arising out of or based upon this Agreement or the
transactions contemplated hereby (“Related Proceedings”) shall be instituted in (i) the federal courts of
the United States of America located in the City and County of New York, Borough of Manhattan or (ii) the courts of the State
of New York located in the City and County of New York, Borough of Manhattan (collectively, the “Specified
Courts”), and each party irrevocably submits to the exclusive jurisdiction (except for proceedings instituted in regard to
the enforcement of a judgment of any such court (a “Related Judgment”), as to which such jurisdiction is
non-exclusive) of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by mail to
such party’s address set forth above shall be effective service of process for any suit, action or other proceeding brought in
any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or other
proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim in any such court that
any such suit, action or other proceeding brought in any such court has been brought in an inconvenient forum. Each party not
located in the United States irrevocably appoints Corporation Service Company as its agent to receive service of process or other
legal summons for purposes of any such suit, action or proceeding that may be instituted in any state or federal court in the City
and County of New York. With respect to any Related Proceeding, each party irrevocably waives, to the fullest extent permitted by
applicable law, all immunity (whether on the basis of sovereignty or otherwise) from jurisdiction, service of process, attachment
(both before and after judgment) and execution to which it might otherwise be entitled in the Specified Courts, and with respect to
any Related Judgment, each party waives any such immunity in the Specified Courts or any other court of competent jurisdiction, and
will not raise or claim or cause to be pleaded any such immunity at or in respect of any such Related Proceeding or Related
Judgment, including, without limitation, any immunity pursuant to the United States Foreign Sovereign Immunities Act of 1976, as
amended.

 

    28

     

    

 

15.
Applicable Law. This Agreement will be governed by and construed in accordance with the laws of the State of New
York applicable to contracts made and to be performed within the State of New York.

 

16.
Waiver of Jury Trial. Each of the parties hereto hereby waives any right to trial by jury in any suit or proceeding
arising out of or relating to this Agreement.

 

17. 
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an
original, but all such counterparts shall together constitute one and the same Agreement. Electronic signatures complying with the New
York Electronic Signatures and Records Act (N.Y. State Tech. §§ 301-309), as amended from time to time, or other applicable
law will be deemed original signatures for purposes of this Agreement. Transmission by telecopy, electronic mail or other transmission
method of an executed counterpart of this Agreement will constitute due and sufficient delivery of such counterpart.

 

18.
Headings. The headings of the sections of this Agreement have been inserted for convenience of reference only and
shall not be deemed a part of this Agreement.

 

19. 
Currency. Each reference in this Agreement to U.S. dollars (the “relevant currency”), including
by use of the symbol “$”, is of the essence. To the fullest extent permitted by law, the obligation of the Company in respect
of any amount due under this Agreement will, notwithstanding any payment in any other currency (whether pursuant to a judgment or otherwise),
be discharged only to the extent of the amount in the relevant currency that the party entitled to receive such payment may, in accordance
with its normal procedures, purchase with the sum paid in such other currency (after any premium and costs of exchange) on the Business
Day immediately following the day on which such party receives such payment. If the amount in the relevant currency that may be so purchased
for any reason falls short of the amount originally due, the Company will pay such additional amounts, in the relevant currency, as may
be necessary to compensate for the shortfall. Any obligation of the Company not discharged by such payment will, to the fullest extent
permitted by applicable law, be due as a separate and independent obligation and, until discharged as provided herein, will continue in
full force and effect.

 

20.
Definitions. The following terms, when used in this Agreement, shall have the meanings indicated.

 

“Affiliate” shall have the meaning
specified in Rule 501(b) of Regulation D.

 

“Business Day” shall mean any
day other than a Saturday, a Sunday or a legal holiday or a day on which banking institutions or trust companies are authorized or obligated
by law to close in The City of New York.

 

“Commencement Date” shall mean
the date of commencement (as defined in Rule 13e-4 under the Exchange Act) of the Exchange Offer.

 

    29

     

    

 

“Commission” shall mean the U.S.
Securities and Exchange Commission.

 

“Effective Date” shall mean the
time the Registration Statement is declared effective under the Securities Act.

 

“Exchange Act” shall mean the
U.S. Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder.

 

“Exchange Date” shall mean the
date on which the Company issues the Shares in exchange for the Warrants pursuant to the Exchange Offer.

 

“Expiration Date” shall mean Midnight
(end of day), Eastern Time, on September 22, 2022, or such later time and date as may be extended by the Company in its sole discretion.

 

“FINRA” shall mean the Financial
Industry Regulatory Authority, Inc.

 

“Information Agent” shall mean
Morrow Sodali LLC.

 

“Liens” means a lien, charge,
pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Material Adverse Change” shall
mean, with respect to the Company, any change that is materially adverse to the condition (financial or otherwise), earnings, business,
or properties of the Company and its subsidiaries, taken as a whole, whether or not arising from transactions in the ordinary course of
business.

 

“Material Adverse Effect” means
(i) a material adverse effect on the legality, validity or enforceability of any Transaction Document, (ii) a material adverse effect,
or any development reasonably expected to result in a prospective material adverse effect, on the results of operations, assets, business
or condition (financial or otherwise) of the Company and its subsidiaries, taken as a whole or (iii) a material adverse effect on the
Company’s ability to perform in any material respect on a timely basis its obligations under any Transaction Document.

 

“Offering Documents” shall mean
the Pre-Effective Registration Statement, the Registration Statement, the Preliminary Prospectus, the Prospectus, the accompanying letter
of transmittal and consent, the Schedule TO, the Rule 165 Material, the notice of guaranteed delivery, and all other documents filed or
to be filed with any federal, state or local government or regulatory agency or authority in connection with the Exchange Offer or the
Consent Solicitation, each as prepared or approved by the Company.

 

“Ordinary Share” means the Class
A ordinary shares of the Company, no par value, and any other class of securities into which such securities may hereafter be reclassified
or changed.

 

“Pre-Effective Registration
Statement” shall mean the registration statement, filed by the Company with the Commission registering the Exchange Offer
under the Securities Act, including exhibits thereto and any documents deemed part of such registration statement pursuant to Rule
430C under the Securities Act, in the form in which it is initially filed with the Commission.

 

    30

     

    

 

“Preliminary Prospectus” shall
mean the preliminary prospectus that is used prior to the filing of the Prospectus, as amended or supplemented from time to time.

 

“proceeding” means an action,
claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial proceeding, such as a deposition),
whether commenced or threatened.

 

“Prospectus” shall mean the final
prospectus included in the Registration Statement, except that if the final prospectus furnished to the Dealer Manager for use in connection
with the Exchange Offer differs from the prospectus set forth in the Registration Statement (whether or not such prospectus is required
to be filed pursuant to Rule 424(b) under the Securities Act), the term “Prospectus” shall refer to the final prospectus
furnished to the Dealer Manager for such use.

 

“Registration Statement” shall
mean the registration statement filed by the Company with the Commission registering the Exchange Offer under the Securities Act, including
exhibits thereto and any documents deemed part of such registration statement pursuant to Rule 430C under the Securities Act, in the form
in which it becomes effective and, in the event of any amendment or supplement thereto or the filing of any abbreviated registration statement
pursuant to Rule 462(b) under the Securities Act relating thereto after the effective date of such registration statement, shall also
mean such registration statement as so amended or supplemented, together with any such abbreviated registration statement.

 

“Rule 165 Material” shall mean
any written communication made in connection with or relating to the Exchange Offer in reliance on Rule 165 of the Securities Act, and
filed by the Company with the Commission pursuant to Rule 425 under the Securities Act.

 

“Schedule TO” shall mean the tender
offer statement filed with the Commission on Schedule TO, including any documents incorporated by reference therein, with respect to the
Exchange Offer, including any amendment or supplement thereto.

 

“Securities Act” shall mean the
U.S. Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder.

 

“Trading Market” means any of
the following markets or exchanges on which the Ordinary Shares are listed or quoted for trading on the date in question: the Nasdaq Stock
Market (or any successors to any of the foregoing).

 

“Transaction Documents” means
this Agreement and any other documents or agreements executed in connection with the transactions contemplated hereunder.

 

“U.S.” or the “United
States” shall mean the United States of America.

 

“Warrant Agreement” shall
mean the warrant agreement, dated as of November 23, 2020, by and between 10X Capital Venture Acquisition Corp. (“10X
Capital”) and Continental Stock Transfer & Trust Company (“Continental”), as warrant agent, as amended by the
Warrant Assignment, Assumption and Amended & Restated Agreement, dated as of July 22, 2021 by and between the Company, 10X
Capital and Continental, as warrant agent.

 

    31

     

    

 

If the foregoing is in accordance with your understanding
of our agreement, please sign and return to us the enclosed duplicate hereof, whereupon this Agreement and your acceptance shall represent
a binding agreement between the Company and the Dealer Manager.

 

	 	Very truly yours,
	 	 
	 	REE AUTOMOTIVE LTD.
	 	 	 
	 	By:	/s/ David Goldberg
	 	Name: 	David Goldberg
	 	Title:	Chief Financial Officer

 

	The foregoing Agreement is hereby

 confirmed and accepted as of the

 date first above written:	 
	 	 	 
	BOFA SECURITIES, INC.	 
	 	 	 	 
	By	/s/ Matias Santa Cruz	 
		Name: 	Matias Santa Cruz	 
		Title:	Managing Director	 

 

     

     

    

 

Schedule A

 

Dealer Manager Fee

 

The Fee paid to BofA Securities, Inc.,
as Dealer Manager, shall be equal to $1,250,000 if holders of at least 50% of the number of then outstanding public warrants have consented
to the Warrant Amendment. However, if the Exchange Offer is consummated but holders of less than 50% of the number of then outstanding
public warrants have consented to the Warrant Amendment, the Company shall pay, or cause to be paid, to the Dealer Manager a fee in an
amount equal to $75,000 in lieu of the fee described in the first sentence of this paragraph.

 

All
payments due under the Agreement to which this Schedule relates are to be made in U.S. Dollars, free and clear of, and without deduction
for, any set-off, claim or applicable taxes except as otherwise required by applicable law, except as set forth in the Engagement
Letter. The Dealer Manager shall provide the Company with a duly executed Internal Revenue Source W-9 prior to the date of the Agreement.
For this purpose, “taxes” means all forms of taxation, duties (including stamp duty), levies, imposts, charges and
withholdings (including any related or incidental penalty, fine, interest or surcharge), in each case in the nature of a tax and imposed
by a taxing authority, and whether required by the law or regulations of the United States or elsewhere.

 

Capitalized
terms used, but not defined, herein shall have the meanings ascribed to them by the Agreement of which this exhibit is a part.

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