Document:

Exhibit
10.13 

 

TERMINATION
AND SETTLEMENT AGREEMENT

 

TERMINATION
AND SETTLEMENT AGREEMENT made as of the 6th day of April 2021 (the “Effective Date”), by and among IR-Med, Inc.,
a Nevada corporation with offices at ZHR Industrial Zone Rosh Pina Israel (“IR-Med Inc.”), IR. Medical Ltd., a company
organized under the laws of Israel, with offices at ZHR Industrial Zone, Rosh Pina Israel (“IR-Med Ltd”; together with IR-Med
Inc., the “Companies”) and Limor Davidson Mund residing in Hod Hasharon, Israel(“LDM”).

 

WHEREAS,
LDM currently serves as IR-Med Ltd.’s Chief Executive Officer under that certain employment agreement between IR-Med Ltd. and LDM,
entered into as of December 24, 2020, (hereinafter, the “Employment Agreement”) and concurrently serves as Chief Executive
Officer of IR-Med Inc.;

 

WHEREAS,
the Companies and LDM desire to terminate LDM’s employment under the Employment Agreement and her service as IR-Med
Inc.’s Chief Executive Officer, all on the terms and conditions set forth herein.

 

NOW,
THEREFORE, in consideration of the terms and conditions hereafter set forth the adequacy and sufficiency of which are hereby acknowledged,
the parties agree hereafter as follows:

 

1.
Resignation of Positions by LDM. Subject to the terms and conditions set forth herein, by her execution of this Agreement, LDM
hereby resigns from her positions as IR-Med Ltd.’s Chief Executive Officer and IR-Med Inc.’s Chief Executive Officer.

 

The
parties acknowledge and agree that LDM’s signature to this Agreement shall serve as adequate and complete legal notice of her resignation
as an officer and member of management of the Companies, both to each of the respective Board of Directors of the Companies.

 

The
parties acknowledge and agree that the Companies’ signature to this Agreement shall serve as its acceptance of LDM’s resignation
from these capacities, and of its responsibility to provide timely notification of such resignation to the Companies’ Boards of
Directors and to all authorities to whom such resignation must be reported by law. LDM agrees to execute any reasonably necessary document
to facilitate and effect any notification of her resignation of positions with the Companies.

 

2.
LDM’s Status During the Notice Period.

 

(a)
During the Notice Period (as defined and specified in the Employment Agreement) which is scheduled to terminate on July 6, 2021 (hereinafter
the “Notice Period”), LDM shall make herself available to the Company on an as needed basis as requested by the Company’s
Chairman Oded Bashan. Within three days of the Effective Date, LDM shall transfer in an orderly fashion to the Chairman of the Companies,
Oded Bashan, all Companies’ matters on which she has been working on. During the Notice Period, LDM shall report solely to the
Chairman Oded Bashan.

 

(b)
During the Notice Period, IR-Med Ltd. shall remit to LDM her monthly Salary (as defined in Exhibit A to the Employment Agreement), less
deductions and withholdings under Israeli or other applicable law customarily made by IR-Med Ltd. and/or required by law, and, all other
Benefits specified in Exhibit A under the Employment Agreement. By her signature below, LDM hereby waives any claim to any other payments
(other than Salary and the Benefits ) due under the Employment Agreement.

 

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3.
Company Property. Except as otherwise herein provided, by no later than Sunday April 11, 2021, LDM shall return to Companies all
IR-Med Ltd and IR-Med Inc property then in her possession, including the credit cards issued in her name, and the Company Laptop. On
the Effective Date, LDM shall destroy the Company credit card and send by email a photo of such destroyed credit card.

 

4.
Financial Terms Relating to Termination of Employment. Subject to the terms and conditions set forth herein and in consideration
of the resignations and releases contained herein, the Companies hereby agree as follows (collectively, the “Settlement Amount”):

 

(a)
Subject to execution and delivery by LDM of this Agreement, at the end of the Notice Period IR-Med Ltd. will release to LDM all amounts
accumulated in LDM’s current Bituach Menahalim and Keren Hishtalmut policies, and IR-Med Ltd. (and to the extent necessary, IR-Med
Inc.) shall take all reasonably necessary actions to cooperate with LDM in transferring or redeeming LDM’s current Bituach Menhalim
and Keren Hishtalmut policies, in accordance with such policies terms and conditions and applicable law. BY HER SIGNATURE BELOW, LDM
AGREES THAT THE TRANSFER TO HER OF SUCH POLICIES IS BEING MADE IN FULL SATISFACTION OF ALL CLAIMS BY LDM AGAINST THE COMPANIES, AND LDM
HEREBY WAIVES ANY RIGHTS SHE MAY HAVE UNDER APPLICABLE LAW OR THE EMPLOYMENT AGREEMENT TO ANY ADDITIONAL AMOUNTS THAT IR-MED LTD. OR
IR-MED INC. MAY BE REQUIRED TO PAY, INCLUDING, WITHOUT LIMITATION, SEVERANCE PAY UNDER ISRAELI LAW OR FURTHER PAYMENTS INTO SUCH POLICIES,
AND FURTHER AGREES THAT SHE SHALL HAVE NO RIGHT OR REMEDY AGAINSTIR-MED LTD. OR IR-MED INC. FOR ANY SUCH PAYMENTS OR SHORTFALL, SUBJECT
TO ACTUAL TRANSFER TO LDM OF SUCH POLICIES;

 

(b
) IR-Med Inc. agrees that seventy five thousand (75,000) of the employee stock options heretofore undertaken to be granted by IR-Med
Inc. to LDM following approval of the IR-Med Inc. 2020 Incentive Stock Option Plan by the Israel Tax Authorities, shall be vested upon
grant following such approval by the Israel Tax Authorities, and continue to be exercisable through the term established by the Board
but in no event less than one year from the date of grant, at a per share exercise price of $0.32, all in accordance with each of IR-Med
Inc.’s 2020 equity incentive plans and agreement thereunder. The date of grant shall be as soon as practically possible after the
30th day following approval by the Israel Tax Authorities. IR-Med Inc. acknowledges LMD’s request that the exercise
period be for three years from the date of grant and will present the request to the IR-Med Inc. board of directors.

 

All
taxes, withholdings and deductions payable or due in respect of LDM’s receipt of the Settlement Amount, or any component thereof,
if any, will be borne by LDM. Notwithstanding the foregoing, Companies will deduct from payments made under the Settlement Amount amounts
required to be withheld in respect of deductions and withholdings under Israeli, United States other applicable law customarily made
by each of IR-Med Inc. and IR-Med Ltd. and/or required by law.

 

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LDM
acknowledges and agrees that the Settlement Amount is being made in full and final release by LDM of any and all claims, rights or remedies
that she may have under the Employment Agreement or otherwise available under law.

 

4.
Continuing Obligations of LDM. Notwithstanding anything else contained herein, LDM hereby acknowledges and agrees that the provisions
of the Employment Agreement relating to Confidentiality and Non-compete shall continue in full force and effect after the Effective Date
of this Agreement, in accordance with their terms and for the duration specified therein. Nothing contained in this Agreement shall be
construed or interpreted as a waiver by the Companies or any of its affiliates or subsidiaries of any right or remedy available under
of the Employment Agreement in the event of a breach occurring after the Effective Date of this Agreement.

 

5.
Releases.

 

5.1
In consideration of the promises, covenants and releases contained herein, the adequacy of which is hereby acknowledged, LDM (on her
behalf and on behalf of each of her respective agents, attorneys, heirs, successors, executors, personal representatives and assigns)
does hereby absolutely and unconditionally waive, release and forever discharge each of the Companies, their respective affiliates and
subsidiaries, their respective past, present and future officers, directors, shareholders, employees, agents, attorneys, successors and
assigns (hereinafter, the “Companies’ Released Parties”), from any claims, demands, obligations, liabilities, rights,
causes of action and damages, whether liquidated or unliquidated, absolute or contingent, known or unknown, from the beginning of time
to the Effective Date of this Agreement, or that arise under the Employment Agreement or that arise under any body of labor or contract
law, including any claims under Israeli labor laws and regulations, or any claim for wrongful termination, or claims with respect to
any other payment required under Israeli law. Notwithstanding the foregoing, the rights and obligations set forth in this Agreement shall
remain in full force and effect; nothing hereunder shall be construed to release any rights accrued to LDM to continue or redeem any
employee welfare benefit plan (including without limitation Betuach Menahalim and Keren Hishtalmut) during her employment, or to release
any rights accrued or applicable to LDM under any applicable insurance policy, including any officer and director liability insurance
coverage or any errors and omissions coverage; nothing hereunder shall waive any indemnification rights applicable to LDM as a former
officer of the Companies.

 

5.2
In consideration of the promises, covenants and releases contained herein, the adequacy of which is hereby acknowledged, each of the
Companies (on its behalf and on behalf of its affiliates and subsidiaries and each of their respective, past, present and future officers,
directors, employees, attorneys, agents, successors, executors, and assigns) does hereby absolutely and unconditionally waive, release
and forever discharge LDM (and her agents, attorneys, heirs, successors, executors, personal representatives and assigns), from any claims,
demands, obligations, liabilities, rights, causes of action and damages, whether liquidated or unliquidated, absolute or contingent,
known or unknown, from the beginning of time to the Effective Date of the employment Agreement, or that arise under any body of labor
or contract law, provided, that, this release shall not apply to any derivative claim or suit by a shareholder of IR-Med Inc. Additionally,
the foregoing release shall not be construed as a waiver of future claims by Companies arising from LDM’s conduct after the Effective
Date of this Agreement with respect to her obligations to Companies under the confidentiality and non-competition provisions contained
in the Employment Agreement and any undertakings of LMD pursuant to this Agreement.

 

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6.
Non-Disparagement. LDM (on behalf of her heirs and personal representatives), agrees not to make disparaging remarks concerning
the Companies or their respective businesses or any of their respective employees, consultants, stockholders, directors, affiliates,
subsidiaries or representatives. Each of the Companies agrees not to make disparaging remarks concerning LDM. Nothing herein shall be
interpreted as affecting either of the parties’ obligations to comply with the specific terms of any valid and effective subpoena,
oral questions, interrogatories, requests for information, civil investigative demand or order issued by a court of competent jurisdiction
or by a governmental body.

 

7.
Press Release. On or immediately following the Effective Date, IR-Med Inc. shall issue a press release relating to LDM’s
resignation.

 

8.
Reliance. The parties acknowledge and agree that in the execution of this Agreement, neither has relied upon any representation
by any party, except as expressly stated or referred to herein.

 

9.
Headings. Section and subsection headings are not to be considered part of this Agreement and are included solely for convenience
and are not intended to be full or accurate descriptions of the content thereof.

 

10.
Successors and Assigns. Except as otherwise provided in this Agreement, all the terms and provisions of this Agreement shall be
upon, and shall inure to the benefit of, the parties hereto and their respective heirs, personal representatives, successors and assigns.

 

11.
Non-Assignment. By her signature below, LDM represents and warrants that she has not assigned or otherwise conveyed to any third
party any claim against any of the Companies or any of their respective directors or officers.

 

12.
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.

 

13.
Entire Agreement. This Agreement constitutes the entire agreement among the parties hereto with respect to the subject matter
hereof and supersedes any prior or contemporaneous understanding or agreement or letters, written or verbal, among the parties with respect
to the subject matter hereof other than as expressly referenced herein. No supplement, modification or waiver or termination of this
Agreement or any provision hereof shall be binding unless executed in writing by the parties to be bound thereby.

 

14.
Governing Law. Jurisdiction and Forum. This Agreement, its validity, construction and effect shall be governed by and construed
under the laws of the State of New York without reference to the principles of conflict of laws. The parties hereby irrevocably consent
to the jurisdiction of the courts of the State of New York or the appropriate federal court sitting in the State of New York for all
actions, disputes, controversies, differences or questions arising out of or relating to this Agreement.

 

[SIGNATURE
PAGE FOLLOWS]

 

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IN
WITNESS WHEREOF, each of the parties has set forth its/her signature as of the date first written above.

 

	IR-Med,
    Inc.	 	IR.
    Med, Ltd.
	 	 	 
	By:	/S/
    Oded Bashan	 	By:	/S/
    Oded Bashan
	 	 	 	 	 
	Title:	Interim
    CEO	 	Title:	Chairman
	 	 	 	 	 
	Name:	Oded
    Bashan	 	Name:	Oded
    Bashan
	 	 	 	 	 
	/S/
    Limor Davidson Mund
	Limor
    Davidson Mund

 

    	 	 	5Exhibit
10.16

 

SUBSCRIPTION
AGREEMENT

 

This
Subscription Agreement (this “Agreement”) has been executed by the purchaser set forth on the signature
page hereof (the “Purchaser”) in connection with the private placement offering (the “Offering”)
by IR-Med, Inc., a Nevada corporation (the “Company”).

 

R
E C I T A L S

 

A.
IRME is offering to qualified accredited investors units of its securities (the “Offering”) where each
unit is comprised of (each, a “Unit” and, collectively, the “Units”) (i) two (2) shares of the
Company’s common stock, par value $0.001 per share (“Common Stock”), and (ii) a warrant to purchase
an additional share of the Company’s Common Stock, exercisable for a three year period after the Merger (as defined below)
and at a per share exercise price of $0.64, subject to adjustment, and substantially in the form of warrant attached hereto as
Appendix A (the “Warrant”), all at a per Unit purchase price of $0.64 (the “Purchase
Price”).

 

B.
The proceeds of the Offering will be used by the Company for, among other things, the working capital purposes of its wholly-owned
subsidiary, IR-Med Ltd., a company formed under the laws of the State of Israel (“IR-Med”).

 

C.
The Securities (as defined below) subscribed for pursuant to this Agreement have not been registered under the Securities Act
of 1933, as amended (the “Securities Act”). The Offering is being made on a reasonable best efforts
basis to “accredited investors,” as defined in Regulation D under the Securities Act in reliance upon the exemption
from securities registration afforded by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D.

 

AGREEMENT

 

The
Company and the Purchaser hereby agree as follows:

 

1.
Subscription.

 

1.1
Purchase and Sale of the Securities.

 

(a)
Subject to the terms and conditions of this Agreement, the undersigned Purchaser agrees to purchase, and the Company agrees to
sell and issue to such Purchaser, that number of Units set forth on such Purchaser’s Signature Page attached hereto at the
Purchase Price, for a total aggregate Purchase Price as set forth on such Omnibus Signature Page. The minimum subscription amount
for each Purchaser in the Offering is $100,000 (or 156,250 Units). The Company may accept subscriptions for less than $100,000
from any Purchaser in its sole discretion.

 

(b)
This Agreement is one of a series of subscription agreements issued (and to be issued) by the Company to purchasers of Units in
connection with the Offering with the same terms and conditions set forth in this Agreement (each, a “Subscription
Agreement”, and collectively, the “Subscription Agreements”).

 

    	 

    	 

    

 

1.2
Subscription Procedure; Closing.

 

(a)
Closing. Subject to the terms and conditions of this Agreement, the initial closing of the Units shall take place remotely
via the exchange of documents and signatures or at such other time and place as fixed by the Company (as defined in Section 2)
(the “Closing”).

 

(b)
Subscription Procedure. To complete a subscription for the Units, the Purchaser must fully comply with the subscription
procedure provided in paragraphs a. through c. of this Section on or before the applicable Closing:

 

(i)
Subscription Documents. At or before the Closing, the Purchaser shall review, complete and execute the Signature Page to
this Agreement, Investor Profile, Anti-Money Laundering Form and Investor Certification, attached hereto following the Omnibus
Signature Page (collectively, the “Subscription Documents”), if applicable, additional forms and questionnaires
distributed to the Purchaser and deliver the Subscription Documents and such additional forms and questionnaires to the party
indicated thereon at the address set forth on the signature page below. Executed documents may be delivered to such party by facsimile
or .pdf sent by electronic mail (e-mail).

 

(ii)
Purchase Price. Simultaneously with the delivery of the Subscription Documents as provided herein, the Purchaser shall
remit to the Company the full Purchase Price by wire transfer of immediately available funds. The details of the Company’s
bank account to which the Purchase Price is to be remitted are set forth on Appendix B.

 

(iii)
Company Discretion. The Purchaser understands and agrees that the Company in its sole discretion reserves the right to
accept or reject this or any other subscription for Units. The Company shall have no obligation hereunder until the Company shall
execute and deliver to the Purchaser an executed copy of this Agreement.

 

2.
Representations and Warranties of the Company. The Company hereby represents and warrants to the Purchaser, as of
the Closing, the following:

 

a.
Organization and Qualification. The Company is a corporation duly organized, validly existing and in good standing under
the laws of Nevada, and has the requisite corporate power to own its properties and to carry on its business as now being conducted.
The Company and each of its subsidiaries is duly qualified as a foreign corporation to do business and is in good standing in
every jurisdiction in which the nature of the business conducted by it makes such qualification necessary, except to the extent
that the failure to be so qualified or be in good standing would not have a material adverse effect on the assets, business, financial
condition, results of operations or future prospects of the Company and its subsidiaries taken as a whole (a “Material
Adverse Effect”).

 

b.
Authorization, Enforcement, Compliance with Other Instruments. (i) The Company has the requisite corporate power and authority
to enter into and perform its obligations under this Agreement (the “Transaction Documents”) and to
issue the Units and the underlying shares of Common Stock comprising the Unit and the shares of Common Stock issuable upon exercise
of the Warrant (collectively, the “Securities”), in accordance with the terms hereof and thereof; (ii)
the execution and delivery by the Company of each of the Transaction Documents and the consummation by it of the transactions
contemplated hereby and thereby, including, without limitation, the issuance of the Securities, have been, or will be at the time
of execution of such Transaction Document by the Company, duly authorized by the Company’s Board of Directors, and no further
consent or authorization is, or will be at the time of execution of such Transaction Document, required by the Company, its Board
of Directors or its stockholders; (iii) each of the Transaction Documents will be duly executed and delivered by the Company;
and (iv) the Transaction Documents when executed will constitute the valid and binding obligations of the Company enforceable
against the Company in accordance with their terms, except as such enforceability may be limited by general principles of equity
or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally,
the enforcement of creditors’ rights and remedies and, with respect to any rights to indemnity or contribution contained
in the Transaction Documents, as such rights may be limited by state or federal laws or public policy underlying such laws.

 

    	 

    	 

    

 

c.
Issuance of Securities. The Units and the underlying Securities that are being issued to the Purchaser hereunder, when
issued, sold and delivered in accordance with the terms and for the consideration set forth in this Agreement, will be duly and
validly issued, fully paid and nonassessable, and free of restrictions on transfer other than restrictions on transfer under the
Transaction Documents, applicable state and federal securities laws and liens or encumbrances created by or imposed by the Purchaser.

 

d.
No Conflicts. The execution, delivery and performance of each of the Transaction Documents by the Company, and the consummation
by the Company of the transactions contemplated hereby and thereby including issuance and sale of the Securities in accordance
with this Agreement will not (i) result in a violation of the Certificate of Incorporation or the Bylaws (or equivalent constitutive
document) of the Company or any of its subsidiaries or (ii) violate or conflict with, or result in a breach of any provision of,
or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others
any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Company
or any subsidiary is a party, except for those which would not reasonably be expected to have, individually or in the aggregate,
a Material Adverse Effect, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including U.S.
federal and state securities laws and regulations) applicable to the Company or any subsidiary or by which any property or asset
of the Company or any subsidiary is bound or affected, except for those which would not reasonably be expected, individually or
in the aggregate, to have a Material Adverse Effect. Neither the Company nor any subsidiary is in violation of or in default under,
any provision of its Certificate of Incorporation or Bylaws. Neither the Company nor any subsidiary is in violation or breach
of any term of or in default under any contract, agreement, mortgage, indebtedness, indenture, instrument, judgment, decree or
order or any statute, rule or regulation applicable to the Company or any subsidiary, except for any violations, breaches or defaults
which would not reasonably be expected to have, individually or on the aggregate, a Material Adverse Effect. Except as specifically
contemplated by this Agreement and as required under the Securities Act and any applicable state securities laws, neither the
Company nor any of its subsidiaries is required to obtain any consent, authorization or order of, or make any filing or registration
with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations under or contemplated
by this Agreement or the other Transaction Documents in accordance with the terms hereof or thereof. Neither the execution and
delivery by the Company of the Transaction Documents, nor the consummation by the Company of the transactions contemplated hereby
or thereby, will require any notice, consent or waiver under any contract or instrument to which the Company or any subsidiary
is a party or by which the Company or any subsidiary is bound or to which any of their assets is subject, except for any notices,
consents or waivers the absence of which would not reasonably be expected, individually or in the aggregate, to have a Material
Adverse Effect. All consents, authorizations, orders, filings and registrations which the Company or any of its subsidiaries is
required to obtain pursuant to the preceding two sentences have been or will be obtained or effected on or prior to the Closing.

 

    	 

    	 

    

 

e.
Absence of Litigation. There is no action, suit, claim, inquiry, notice of violation, proceeding (including any partial
proceeding such as a deposition) or investigation before or by any court, public board, governmental or administrative agency,
self-regulatory organization, arbitrator, regulatory authority, stock market, stock exchange or trading facility (an “Action”)
now pending or, to the knowledge of the Company, threatened against or affecting the Company or any of its subsidiaries or any
of their respective officers or directors, (i) which, together with all other Actions, would be reasonably likely to adversely
affect the validity or enforceability of, or the authority or ability of the Company to perform its obligations under, this Agreement
or any of the other Transaction Documents, or (ii) which, together with all other Actions, would be reasonably likely to have
a Material Adverse Effect. For the purpose of this Agreement, the knowledge of the Company means the knowledge of the officers
of the Company and IR-Med (both actual or knowledge that they would have had upon reasonable inquiry of the personnel of IR-Med
responsible for the applicable subject matter). Neither the Company nor any of its subsidiaries is subject to any judgment, decree,
or order which has had, or would reasonably be expected to have a Material Adverse Effect.

 

f.
Use of Proceeds. The Company presently intends to use the net proceeds from the Offering to fund continuing design and
development of IR Med’s product line, regulatory approval process, production and marketing as well for working capital
and other general corporate purposes.

 

g.
All of the information concerning the Company set forth herein, and any other information furnished by the Company in writing
to the Purchaser for use in connection with the transactions contemplated by this Agreement, is true, correct and complete in
all material respects as of the date of this Agreement, and, if there should be any material change in such information prior
to the Purchaser’s purchase of the Units and Securities, the Company will promptly furnish revised or corrected information
to the Purchaser.

 

3.
Representations, Warranties and Agreements of the Purchaser. The Purchaser, severally and not jointly with any other
Purchaser, represents and warrants to, and agrees with, the Company the following:

 

a.
The Purchaser has the knowledge and experience in financial and business matters necessary to evaluate the merits and risks of
its prospective investment in the Company, and has carefully reviewed and understands the risks of, and other considerations relating
to, the purchase of Securities and the tax consequences of the investment, and has the ability to bear the economic risks of the
investment. The Purchaser can afford the loss of his, her or its entire investment.

 

b.
The Purchaser is acquiring the Securities for investment for his, her or its own account and not with the view to, or for resale
in connection with, any distribution thereof. The Purchaser understands and acknowledges that the Offering and sale of the Securities
have not been registered under the Securities Act or any state securities laws, by reason of a specific exemption from the registration
provisions of the Securities Act and applicable state securities laws, which depends upon, among other things, the bona fide nature
of the investment intent as expressed herein. The Purchaser further represents that he, she or it does not have any contract,
undertaking, agreement or arrangement with any person to sell, transfer or grant participation to any third person with respect
to any of the Securities. The Purchaser understands and acknowledges that the Offering of the Securities will not be registered
under the Securities Act nor under the state securities laws on the ground that the sale of the Securities to the Purchaser as
provided for in this Agreement and the issuance of securities hereunder is exempt from the registration requirements of the Securities
Act and any applicable state securities laws. The Purchaser is an “accredited investor” as defined in Rule 501 of
Regulation D as promulgated by the SEC under the Securities Act, for the reason(s) specified on the Accredited Investor
Certification as completed by Purchaser, and Purchaser shall submit to the Company such further assurances of such status
as may be reasonably requested by the Company. The Purchaser resides in the jurisdiction set forth on the Purchaser’s Omnibus
Signature Page affixed hereto. The Purchaser has not taken any of the actions set forth in, and is not subject to, the disqualification
provisions of Rule 506(d)(1) of the Securities Act.

 

    	 

    	 

    

 

c.
The Purchaser (i) if a natural person, represents that he or she is the greater of (A) 21 years of age or (B) the age of legal
majority in his or her jurisdiction of residence, and has full power and authority to execute and deliver this Agreement and all
other related agreements or certificates and to carry out the provisions hereof and thereof; (ii) if a corporation, partnership,
limited liability company, association, joint stock company, trust, unincorporated organization or other entity, represents that
such entity was not formed for the specific purpose of acquiring the Securities, such entity is duly organized, validly existing
and in good standing under the laws of the state or jurisdiction of its organization, the consummation of the transactions contemplated
hereby is authorized by, and will not result in a violation of state law or its charter or other organizational documents, such
entity has full power and authority to execute and deliver this Agreement and all other related agreements or certificates and
to carry out the provisions hereof and thereof and to purchase and hold the Securities, the execution and delivery of this Agreement
has been duly authorized by all necessary action, this Agreement has been duly executed and delivered on behalf of such entity
and is a legal, valid and binding obligation of such entity; or (iii) if executing this Agreement in a representative or fiduciary
capacity, represents that he, she or it has full power and authority to execute and deliver this Agreement in such capacity and
on behalf of the subscribing individual, ward, partnership, trust, estate, corporation, or limited liability company or partnership,
or other entity for whom the Purchaser is executing this Agreement, and such individual, partnership, ward, trust, estate, corporation,
or limited liability company or partnership, or other entity has full right and power to perform pursuant to this Agreement and
make an investment in the Company, and represents that this Agreement constitutes a legal, valid and binding obligation of such
entity. The execution and delivery of this Agreement will not violate or be in conflict with any order, judgment, injunction,
agreement or controlling document to which the Purchaser is a party or by which it is bound.

 

d.
The Purchaser understands that the Units and Securities are being offered and sold to him, her or it in reliance on specific exemptions
from the registration requirements of United States federal and state securities laws and that the Company is relying in part
upon the truth and accuracy of, and such Purchaser’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of such Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility
of such Purchaser to acquire such securities. The Purchaser further acknowledges and understands that the Company is relying on
the representations and warranties made by the Purchaser hereunder and that such representations and warranties are a material
inducement to the Company to sell the Securities to the Purchaser. The Purchaser further acknowledges that without such representations
and warranties of the Purchaser made hereunder, the Company would not enter into this Agreement with the Purchaser.

 

e.
The Purchaser understands that no public market exists for the Company’s Common Stock and that there can be no assurance
that any public market for the Common Stock will exist or continue to exist.

 

    	 

    	 

    

 

f.
The Purchaser has received, reviewed and understood the information about the Company, and has had an opportunity to discuss the
Company’s business, management and financial affairs with the Company’s management. The Purchaser understands that
such discussions, were intended to describe the aspects of the Company’s business and prospects and the Offering which the
Company believes to be material, but were not necessarily a thorough or exhaustive description, and except as expressly set forth
in this Agreement, the Company makes no representation or warranty with respect to the completeness of such information and makes
no representation or warranty of any kind with respect to any information provided by any entity other than the Company. Some
of such information may include projections as to the future performance of the Company, which projections may not be realized,
may be based on assumptions which may not be correct and may be subject to numerous factors beyond the Company’s control.
The Purchaser acknowledges that he, she or it is not relying upon any person or entity, other than the Company and its officers
and directors, in making its investment or decision to invest in the Company. Additionally, the Purchaser understands and represents
that he, she or it is purchasing the Securities notwithstanding the fact that the Company may disclose in the future certain material
information the Purchaser has not received, including (without limitation) financial statements of the Company and/or IR-Med for
the current or prior fiscal periods, and any subsequent period financial statements that will be filed with the SEC, that he,
she or it is not relying on any such information in connection with his, her or its purchase of the Securities and that he, she
or it waives any right of action with respect to the nondisclosure to him, her or it prior to his, her or its purchase of the
Securities of any such information. Each Purchaser has sought such accounting, legal and tax advice as the Purchaser has considered
necessary to make an informed investment decision with respect to his, her or its acquisition of the Securities.

 

g.
The Purchaser acknowledges that the Company is not acting as a financial advisor or fiduciary of the Purchaser (or in any similar
capacity) with respect to the Transaction Documents and the transactions contemplated hereby and thereby, and no investment advice
has been given by the Company or any of their respective representatives or agents in connection with the Transaction Documents
and the transactions contemplated hereby and thereby. The Purchaser further represents to the Company that the Purchaser’s
decision to enter into the Transaction Documents has been based solely on the independent evaluation by the Purchaser and the
Purchaser’s representatives, as well as the provisions of the Transaction Documents.

 

h.
As of the applicable Closing, all actions on the part of Purchaser, and its officers, directors and partners, if applicable, necessary
for the authorization, execution and delivery of this Agreement and the performance of all obligations of the Purchaser hereunder
and thereunder shall have been taken, and this Agreement, assuming due execution by the parties hereto and thereto, constitute
valid and legally binding obligations of the Purchaser, enforceable in accordance with their respective terms, subject to: (i)
judicial principles limiting the availability of specific performance, injunctive relief, and other equitable remedies and (ii)
bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect generally relating to or affecting
creditors’ rights.

 

i.
The Purchaser has not acquired the Securities as a result of, and will not itself engage in, any “directed selling efforts”
(as defined in Regulation S) in the United States in respect of any of the Securities which would include any activities undertaken
for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States for
the resale of any of the Securities, provided, however, that the Purchaser may sell or otherwise dispose of any of the Securities
pursuant to registration of any of the Securities pursuant to the 1933 Act and any applicable securities laws or under an exemption
from such registration requirements; and

 

j.
no person has made to the Purchaser any written or oral representations:

 

(i)
that any person will resell or repurchase any of the Securities,

 

    	 

    	 

    

 

 

(ii)
that any person will refund the purchase price of any of the Securities, or

 

(iii)
as to the future price or value of any of the Securities.

 

In
this Agreement, the term “U.S. Person” will have the meaning ascribed thereto in Regulation S, and for the
purpose of this Agreement includes, but is not limited to: (a) any person in the United States; (b) any natural person resident
in the United States; (c) any partnership or corporation organized or incorporated under the laws of the United States; (d) any
partnership or corporation organized outside the United States by a U.S. Person principally for the purpose of investing in securities
not registered under the 1933 Act, unless it is organized or incorporated, and owned, by accredited investors who are not natural
persons, estates or trusts; or (e) any estate or trust of which any executor or administrator or trustee is a U.S. Person.

 

k.
Purchaser represents that neither it nor, to its knowledge, any person or entity controlling, controlled by or under common control
with it, nor any person having a beneficial interest in the Purchaser, nor any person on whose behalf the Purchaser is acting:
(i) is a person listed in the Annex to Executive Order No. 13224 (2001) issued by the President of the United States (Executive
Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism); (ii)
is named on the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets Control;
(iii) is a non-U.S. shell bank or is providing banking services indirectly to a non-U.S. shell bank; (iv) is a senior non-U.S.
political figure or an immediate family member or close associate of such figure; or (v) is otherwise prohibited from investing
in the Company pursuant to applicable U.S. anti-money laundering, anti-terrorist and asset control laws, regulations, rules or
orders (categories (i) through (v), each a “Prohibited Purchaser”). The Purchaser agrees to provide
the Company, promptly upon request, all information that the Company reasonably deems necessary or appropriate to comply with
applicable U.S. anti-money laundering, anti-terrorist and asset control laws, regulations, rules and orders. The Purchaser consents
to the disclosure to U.S. regulators and law enforcement authorities by the Company and its Affiliates and agents of such information
about the Purchaser as the Company reasonably deems necessary or appropriate to comply with applicable U.S. anti-money laundering,
anti-terrorist and asset control laws, regulations, rules and orders. If the Purchaser is a financial institution that is subject
to the USA Patriot Act, the Purchaser represents that it has met all of its obligations under the USA Patriot Act. The Purchaser
acknowledges that if, following its investment in the Company, the Company reasonably determines that the Purchaser is a Prohibited
Purchaser or is otherwise engaged in suspicious activity or refuses to promptly provide information that the Company requests,
the Company has the right or may be obligated to prohibit additional investments, segregate the assets constituting the investment
in accordance with applicable regulations or immediately require the Purchaser to transfer the Securities. The Purchaser further
acknowledges that neither the Purchaser nor any of the Purchaser’s Affiliates or agents will have any claim against the
Company for any form of damages as a result of any of the foregoing actions.

 

l.
If the Purchaser is Affiliated with a non-U.S. banking institution (a “Foreign Bank”), or if the Purchaser
receives deposits from, makes payments on behalf of, or handles other financial transactions related to a Foreign Bank, the Purchaser
represents and warrants to the Company that: (1) the Foreign Bank has a fixed address, other than solely an electronic address,
in a country in which the Foreign Bank is authorized to conduct banking activities; (2) the Foreign Bank maintains operating records
related to its banking activities; (3) the Foreign Bank is subject to inspection by the banking authority that licensed the Foreign
Bank to conduct banking activities; and (4) the Foreign Bank does not provide banking services to any other Foreign Bank that
does not have a physical presence in any country and that is not a regulated Affiliate.

 

    	 

    	 

    

 

m.
The Purchaser or its duly authorized representative realizes that because of the inherently speculative nature of businesses of
the kind conducted and contemplated by the Company, the Company’s financial results may be expected to fluctuate from month
to month and from period to period and will, generally, involve a high degree of financial and market risk that could result in
substantial or, at times, even total losses for investors in securities of the Company.

 

n.
The Purchaser has adequate means of providing for its current and anticipated financial needs and contingencies, is able to bear
the economic risk for an indefinite period of time and has no need for liquidity of the investment in the Securities and could
afford complete loss of such investment.

 

o.
The Purchaser is not subscribing for Securities as a result of or subsequent to any advertisement, article, notice or other communication,
published in any newspaper, magazine or similar media or broadcast over television, radio, or the internet, or presented at any
seminar or meeting, or any solicitation of a subscription by a person not previously known to the Purchaser in connection with
investments in securities generally.

 

p.
The Purchaser acknowledges that no U.S. federal or state agency or any other government or governmental agency has passed upon
the Securities or made any finding or determination as to the fairness, suitability or wisdom of any investments therein.

 

q.
Other than consummating the transactions contemplated hereunder, the Purchaser has not directly or indirectly, nor has any individual
or entity acting on behalf of or pursuant to any understanding with such Purchaser, executed any purchases or sales, including
Short Sales, of the securities of the Company during the period commencing as of the time that such Purchaser first received a
term sheet (written or oral) from the Company or any other individual or entity representing the Company setting forth the material
terms of the transactions contemplated hereunder and ending immediately prior to the execution hereof. Notwithstanding the foregoing,
in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions
of such Purchaser’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio
managers managing other portions of such Purchaser’s assets, the representation set forth above shall only apply with respect
to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Securities covered
by this Agreement. Other than to other individuals or entities party to this Agreement, such Purchaser has maintained the confidentiality
of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction). Notwithstanding
the foregoing, for avoidance of doubt, nothing contained herein shall constitute a representation or warranty, or preclude any
actions, with respect to the identification of the availability of, or securing of, available shares to borrow in order to effect
Short Sales or similar transactions in the future. For purposes of this Agreement, “Short Sales” means
all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall not be deemed to include
the location and/or reservation of borrowable shares of Common Stock).

 

r.
The Purchaser is aware that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of the Securities
and other activities with respect to the Securities by the Purchaser.

 

    	 

    	 

    

 

s.
All of the information concerning the Purchaser set forth herein, and any other information furnished by the Purchaser in writing
to the Company for use in connection with the transactions contemplated by this Agreement, is true, correct and complete in all
material respects as of the date of this Agreement, and, if there should be any material change in such information prior to the
Purchaser’s purchase of the Units and Securities, the Purchaser will promptly furnish revised or corrected information to
the Company.

 

t.
The Purchaser has reviewed with its own tax advisors the U.S. federal, state, local and foreign tax consequences of this investment
and the transactions contemplated by the Transaction Documents. With respect to such matters, such Purchaser relies solely on
such advisors and not on any statements or representations of the Company or any of its agents, written or oral. The Purchaser
understands that it (and not the Company) shall be responsible for its own tax liability that may arise as a result of this investment
or the transactions contemplated by the Transaction Documents.

 

u.
(For ERISA plans only) The fiduciary of the Employee Retirement Income Security Act of 1974 (“ERISA”)
plan (the “Plan”) represents that such fiduciary has been informed of and understands the Company’s
investment objectives, policies and strategies, and that the decision to invest “plan assets” (as such term is defined
in ERISA) in the Company is consistent with the provisions of ERISA that require diversification of plan assets and impose other
fiduciary responsibilities. The Purchaser fiduciary or Plan (a) is responsible for the decision to invest in the Company; (b)
is independent of the Company or any of its Affiliates; (c) is qualified to make such investment decision; and (d) in making such
decision, the Purchaser fiduciary or Plan has not relied primarily on any advice or recommendation of the Company or any of its
Affiliates.

 

v.
Neither the Purchaser nor, to the Purchaser’s knowledge, any of its directors, executive officers, other officers that may
serve as a director or officer of any company in which it invests, general partners or managing members is subject to any Disqualification
Events, except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) under the Securities Act, and disclosed in writing
in reasonable detail to the Company.

 

w.
The Purchaser understands that there are substantial restrictions on the transferability of the Securities and that the certificates
representing the Securities shall bear a restrictive legend in substantially the following form (and a stop-transfer order may
be placed against transfer of such certificates or other instruments):

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD,
PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES
ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION
OF COUNSEL, WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED,
ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR APPLICABLE
STATE SECURITIES LAWS OR (3) SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT.

 

    	 

    	 

    

 

x.
If the Purchaser is an individual, then the Purchaser resides in the state or province identified in the address of the Purchaser
set forth on such Purchaser’s Omnibus Signature Page to this Agreement; if the Purchaser is a partnership, corporation,
limited liability company or other entity, then the office or offices of the Purchaser in which its principal place of business
is identified in the address or addresses of the Purchaser set forth on such Purchaser’s Omnibus Signature Page to this
Agreement.

 

y.
The Purchaser understands that prior to the acquisition by the Company of IR Med, the Company was a “shell company”
as defined in Rule 12b-2 under the Exchange Act. Pursuant to Rule 144(i), securities issued by a current or former shell company
(that is, the Securities) that otherwise meet the holding period and other requirements of Rule 144 nevertheless cannot be sold
in reliance on Rule 144 until one year after the Company (a) is no longer a shell company; and (b) has filed current “Form
10 information” (as defined in Rule 144(i)) with the SEC reflecting that it is no longer a shell company, and provided that
at the time of a proposed sale pursuant to Rule 144, the Company is subject to the reporting requirements of Section 13 or 15(d)
of the Exchange Act and has filed all reports and other materials required to be filed by Section 13 or 15(d) of the Exchange
Act, as applicable, during the preceding 12 months (or for such shorter period that the issuer was required to file such reports
and materials), other than Form 8-K reports. As a result, the restrictive legends on certificates for the Securities cannot be
removed except in connection with an actual sale meeting the foregoing requirements or pursuant to an effective registration statement.

 

4.
Conditions to Closing. 

 

(i)
The Company’s obligation to complete the sale and issuance of the Units and deliver the Securities at the Closing shall
be subject to the following conditions to the extent not waived by the Company:

 

a.
Receipt of Payment. The Company shall have received payment, by certified or other bank check or by wire transfer of immediately
available funds, in the full amount of the purchase price for the number of Units being purchased by such Purchaser at such Closing.

 

b.
Representations and Warranties. The representations and warranties made by the Purchaser in Section 3 hereof shall be true
and correct in all respects when made, and shall be true and correct in all respects on the applicable Closing date with the same
force and effect as if they had been made on and as of said date.

 

c.
Performance. The Purchaser shall have performed in all material respects all obligations and covenants herein required
to be performed by it on or prior to the applicable Closing.

 

d.
Receipt of Executed Documents. The Purchaser shall have executed and delivered to the Company the Signature Page, the Purchaser
Questionnaire.

 

e.
Qualifications. All authorizations, approvals or permits, of any governmental authority or regulatory body of the United
States or of any state that are required in connection with the lawful issuance and sale of the Securities pursuant to this Agreement
shall be obtained and effective as of such Closing except for Blue Sky law permits and qualifications that may be properly obtained
after such Closing.

 

    	 

    	 

    

 

(ii)
The Purchaser’s obligation to complete the purchase of the Units and remit the purchase price shall be subject to the following
conditions to the extent not waived by the Purchaser:

 

a.
Representations and Warranties. The representations and warranties made by the Company in Section 2 hereof shall be true
and correct in all respects when made, and shall be true and correct in all respects on the applicable Closing date with the same
force and effect as if they had been made on and as of said date.

 

b.
Performance. The Company shall have performed in all material respects all obligations and covenants herein required to
be performed by it on or prior to the applicable Closing.

 

c.
Receipt of Executed Documents. The Company shall have executed and delivered to the Purchaser the Signature Page and the
Warrant instrument.

 

d.
Qualifications. All authorizations, approvals or permits, of any governmental authority or regulatory body of the United
States or of any state that are required in connection with the lawful issuance and sale of the Securities pursuant to this Agreement
shall be obtained and effective as of such Closing except for Blue Sky law permits and qualifications that may be properly obtained
after such Closing.

 

5.       
Registration. By no later than March 31, 2021, the Company shall file registration
statement on Form S-1 under the Securities Act covering the resale by the Purchaser of all Registrable Securities held by the
Purchaser, provided, that, in the event that the financial statements required to be included in such registration statement have
not been audited or reviewed, as the case may be, then, upon written notice by the Company, the Company shall have an additional
30 days to file such registration statement. 

 

“Registrable
Securities” shall mean (i) the Common Stock in the Units purchased by the Purchaser hereunder and (ii) the shares of Common
Stock issuable upon exercise of the Warrants included in the purchased Units. 

 

The
Purchaser shall enter into an appropriate lock up agreement whereby the Purchaser agrees that until the first year anniversary
of the effectiveness of such registration statement it will not resell more than 50% of the Common Stock underlying the Units.

 

6.
Indemnification. The Purchaser will indemnify and hold harmless the Company and, where applicable, its directors,
officers, employees, agents, advisors and shareholders, from and against any and all loss, liability, claim, damage and expense
whatsoever (including, but not limited to, any and all fees, costs and expenses whatsoever reasonably incurred in investigating,
preparing or defending against any claim, lawsuit, administrative proceeding or investigation whether commenced or threatened)
arising out of or based upon any representation or warranty of the Purchaser contained in this Agreement or the Questionnaire
being untrue in any material respect, or any breach or failure by the Purchaser to comply with any covenant or agreement made
by the Purchaser to the Company in connection therewith; provided, that the Purchaser’s maximum liability to the Company,
its affiliates and the other individuals and entities referenced herein shall be twice the Purchase Price, except to the extent
that such liability results from a breach by the Purchaser of its representations in Section 3(b) and/or the Accredited Investor
Certification.

 

    	 

    	 

    

 

7.
Non-Revocability; Binding Effect. The subscription hereunder may not be revoked prior to the Closing thereon. The
Purchaser hereby acknowledges and agrees that this Agreement shall survive the death or disability of the Purchaser and shall
be binding upon and inure to the benefit of the parties and their heirs, executors, administrators, successors, legal representatives
and permitted assigns. If the Purchaser is more than one person, the obligations of the Purchaser hereunder shall be joint and
several and the agreements, representations, warranties and acknowledgments herein shall be deemed to be made by and be binding
upon each such person and such person’s heirs, executors, administrators, successors, legal representatives and permitted
assigns. For the purposes of this Agreement, “Business Day” means a day, other than a Saturday or Sunday,
on which banks in New York City are open for the general transaction of business.

 

8.
Miscellaneous.

 

a.
Modification. This Agreement shall not be amended, modified or waived except by an instrument in writing signed
by the Company and the Purchaser.

 

b.
No Third-Party Beneficiary. This Agreement is intended for the benefit of the parties hereto and their respective
successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

c.
Notices. Any notice, consents, waivers or other communication required or permitted to be given hereunder shall
be in writing and will be deemed to have been delivered: (i) upon receipt, when personally delivered; (ii) upon receipt when sent
by certified mail, return receipt requested, postage prepaid; (iii) upon receipt, when sent by facsimile (provided confirmation
of transmission is mechanically or electronically generated and kept on file by the sending party; (iv) when sent, if by e- mail,
(provided that such sent e-mail is kept on file (whether electronically or otherwise) by the sending party and the sending party
does not receive an automatically generated message from the recipient’s e- mail server that such e-mail could not be delivered
to such recipient); or (v) one (1) Business Day after deposit with an overnight courier service with next day delivery specified,
in each case, properly addressed to the party to receive the same. The addresses, facsimile numbers and email addresses for such
communications shall be:

(a)
if to the Company, at

 

c/o
Aboudi Legal Group PLLC

745
Fifth Avenue

New
York, NY 10151

Attention:

Email:

 

with
copies (which shall not constitute notice) to:

 

Aboudi
Legal Group PLLC

745
Fifth Avenue

New
York, NY 10151

Attention:
David Aboudi

 

E-mail:
david@aboudilegal.com

 

(b)
if to the Purchaser, at the address set forth on the Signature Page hereof

 

(or,
in either case, to such other address as the party shall have furnished in writing in accordance with the provisions of this Section).
Any notice or other communication given by certified mail shall be deemed given at the time of certification thereof, except for
a notice changing a party’s address which shall be deemed given at the time of receipt thereof.

 

    	 

    	 

    

 

d.
Assignability. This Agreement and the rights, interests and obligations hereunder are not transferable or assignable
by the Purchaser, and the transfer or assignment of the Shares shall be made only in accordance with all applicable laws.

 

e.
Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New
York, without reference to the principles thereof relating to the conflict of laws. The parties hereby submit to the exclusive
jurisdiction of the appropriate federal or state court sitting in New York County.

 

f.
RESERVED

 

g.
This Agreement, all exhibits, schedules and attachments hereto and thereto and any confidentiality agreement between the Purchaser
and the Company, constitute the entire agreement between the Purchaser and the Company with respect to the Offering and supersede
all prior oral or written agreements and understandings, if any, relating to the subject matter hereof. The terms and provisions
of this Agreement may be waived, or consent for the departure therefrom granted, only by a written document executed by the party
entitled to the benefits of such terms or provisions.

 

h.
If the Securities are certificated and any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed,
the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and
substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company
and the Company’s transfer agent of such loss, theft or destruction and the execution by the holder thereof of a customary
lost certificate affidavit of that fact and an agreement to indemnify and hold harmless the Company and the Company’s transfer
agent for any losses in connection therewith or, if required by the transfer agent, a bond in such form and amount as is required
by the transfer agent. The applicants for a new certificate or instrument under such circumstances shall also pay any reasonable
third-party costs associated with the issuance of such replacement Securities. If a replacement certificate or instrument evidencing
any Securities is requested due to a mutilation thereof, the Company may require delivery of such mutilated certificate or instrument
as a condition precedent to any issuance of a replacement.

 

i.
Each of the parties hereto shall pay its own fees and expenses (including the fees of any attorneys, accountants, appraisers or
others engaged by such party) in connection with this Agreement and the transactions contemplated hereby, whether or not the transactions
contemplated hereby are consummated.

 

j.
This Agreement may be executed in one or more original or facsimile or by an e-mail which contains a portable document format
(.pdf) file of an executed signature page counterparts, each of which shall be deemed an original, but all of which shall together
constitute one and the same instrument and which shall be enforceable against the parties actually executing such counterparts.
The exchange of copies of this Agreement and of signature pages by facsimile transmission or in .pdf format shall constitute effective
execution and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes.
Signatures of the parties transmitted by facsimile or by e-mail of a document in pdf format shall be deemed to be their original
signatures for all purposes.

 

    	 

    	 

    

 

k.
Each provision of this Agreement shall be considered separable and, if for any reason any provision or provisions hereof are determined
to be invalid or contrary to applicable law, such invalidity or illegality shall not impair the operation of or affect the remaining
portions of this Agreement.

 

l.
The Purchaser hereby agrees to furnish the Company such other information as the Company may reasonably request prior to the applicable
Closing with respect to its subscription hereunder.

 

m.
The representations and warranties of the Company and each Purchaser contained in or made pursuant to this Agreement shall survive
the execution and delivery of this Agreement for a period of one (1) year from the date of the Initial Closing and shall in no
way be affected by any investigation or knowledge of the subject matter thereof made by or on behalf of the Purchasers or the
Company.

 

n.
Public Disclosure. Neither the Purchaser nor any officer, manager, director, member, partner, stockholder, employee,
Affiliate, Affiliated person or entity of the Purchaser shall make or issue any press releases or otherwise make any public statements
or make any disclosures to any third person or entity with respect to the transactions contemplated herein and will not make or
issue any press releases or otherwise make any public statements of any nature whatsoever with respect to the Company without
the Company’s express prior approval (which may be withheld in the Company’s sole discretion), except to the extent
such disclosure is required by law, request of the staff of the SEC or of any regulatory agency or principal trading market regulations.

 

o.
Independent Nature of Each Purchaser’s Obligations and Rights. For avoidance of doubt, the obligations of the Purchaser
under this Agreement are several and not joint with the obligations of any other Purchaser, and the Purchaser shall not be responsible
in any way for the performance of the obligations of any other Purchaser under any other Subscription Agreement. Nothing contained
herein and no action taken by the Purchaser shall be deemed to constitute the Purchaser as a partnership, an association, a joint
venture, or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group
with respect to such obligations or the transactions contemplated by this Agreement and any other Subscription Agreements. The
Purchaser shall be entitled to independently protect and enforce its rights, including without limitation the rights arising out
of this Agreement, and it shall not be necessary for any other Purchaser to be joined as an additional party in any proceeding
for such purpose.

 

[Signature
page follows.]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the Purchaser hereby irrevocably subscribes for and agrees to purchase from Securities in the amount set forth
below as of the day of December, 2020.

 

	_____________ X	 	$0.64    =
    	 	_________________

	Number of Units	 	$ per Unit	 	Purchase Price

 

 

	PURCHASER
    (individual)	 	PURCHASER
    (entity)
	 	 	 	                                                             
	 	 	 
	Signature	 	Name
    of Entity
	 	 	 	 
	 	 	By:	 
	Print
    Name	 	 	Signature
	 	 	 	 
	 	 	Print
    Name: _____________________________
	Signature (if
    Joint Tenants or Tenants in Common)	 	 
		 	Title:
    ________________________________ 
	 	 	 
	Address
    of Principal Residence:	 	Address
    of Executive Offices:
	 	 	 
	 	 	   
	 	 	 
	 	 	   
	 	 	 
	 	 	 
	 	 	 
	Social
    Security Number(s):	 	IRS
    Tax Identification Number:
	 	 	   
	 	 	 
	 	 	 
	Telephone
    Number:	 	Telephone
    Number:
	 	 	   
	 	 	 
	 	 	 
	Facsimile
    Number:	 	Facsimile
    Number:
	 	 	   
	 	 	 
	 	 	 
	E-mail
    Address:	 	E-mail
    Address:
	 	 	   
	 	 	 

 

    	 

    	 

    

 

ACCEPTANCE

 

The
Company hereby accepts the Subscription (as defined herein) on the terms and conditions contained in this private placement subscription
agreement (this “Agreement”) as of the ___ day of ______, 2020.

 

IR-MED,
INC.

 

Per:
________________________

 

    	 

    	 

    

 

IR-MED,
INC.

ACCREDITED
INVESTOR CERTIFICATION

For
Individual Investors Only

(all
Individual Investors must INITIAL where appropriate):

 

	Initial
    _______ 	 	I
    have a net worth of at least US$1 million either individually or through aggregating my individual holdings and those in which
    I have a joint, community property or other similar shared ownership interest with my spouse. (For purposes of calculating
    your net worth under this paragraph, (a) your primary residence shall not be included as an asset; (b) indebtedness
    secured by your primary residence, up to the estimated fair market value of your primary residence at the time of your purchase
    of the securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the
    time of your purchase of the securities exceeds the amount outstanding 60 days before such time, other than as a result of
    the acquisition of your primary residence, the amount of such excess shall be included as a liability); and (c) indebtedness
    that is secured by your primary residence in excess of the estimated fair market value of your primary residence at the time
    of your purchase of the securities shall be included as a liability.)
	 	 
	Initial
    _______ 	 	I
    have had an annual gross income for the past two years of at least US$200,000 (or US$300,000 jointly with my spouse) and expect
    my income (or joint income, as appropriate) to reach the same level in the current year.
	 	 
	Initial
    _______ 	 	I
    am a director or executive officer of IR-Med Inc .
	 	 
	 	 	For
    Non-Individual Investors (Entities)
	 	 	(all
    Non-Individual Investors must INITIAL where appropriate):
	 	 
	Initial
    _______ 	 	The
    investor certifies that it is a partnership, corporation, limited liability company or business trust that is 100% owned by
    persons who meet at least one of the criteria for Individual Investors set forth above (in which case each such person must
    complete the Accreditor Investor Certification for Individuals above as well the remainder of this questionnaire).
	 	 
	Initial
    _______ 	 	The
    investor certifies that it is a partnership, corporation, limited liability company or business trust that has total assets
    of at least US$5 million and was not formed for the purpose of investing the Company.
	 	 
	Initial
    _______ 	 	The
    investor certifies that it is an employee benefit plan whose investment decision is made by a plan fiduciary (as defined in
    ERISA § 3(21)) that is a bank, savings and loan association, insurance company or registered investment advisor.
	 	 
	Initial
    _______ 	 	The
    investor certifies that it is an employee benefit plan whose total assets exceed US$5,000,000 as of the date of this Agreement.
	 	 
	Initial
    _______ 	 	The
    undersigned certifies that it is a self-directed employee benefit plan whose investment decisions are made solely by persons
    who meet at least one of the criteria for Individual Investors.
	 	 
	Initial
    _______ 	 	The
    investor certifies that it is a U.S. bank as defined in Section 3(a)(2) of the Securities Act, or any U.S. savings and loan
    association or other similar U.S. institution as defined in Section 3(a)(5) of the Securities Act acting in its individual
    or fiduciary capacity.

 

	Initial
    _______ 	 	The
    undersigned certifies that it is a broker-dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934.
	 	 
	Initial
    _______ 	 	The
    investor certifies that it is an organization described in Section 501(c)(3) of the Internal Revenue Code with total assets
    exceeding US$5,000,000 and not formed for the specific purpose of investing in the Company.
	 	 
	Initial
    _______ 	 	The
    investor certifies that it is a trust with total assets of at least US$5,000,000, not formed for the specific purpose of investing
    in the Company, and whose purchase is directed by a person with such knowledge and experience in financial and business matters
    that such person is capable of evaluating the merits and risks of the prospective investment.
	 	 	 
	Initial
    _______ 	 	The
    investor certifies that it is a plan established and maintained by a state or its political subdivisions, or any agency or
    instrumentality thereof, for the benefit of its employees, and which has total assets in excess of US$5,000,000.
	 	 
	Initial
    _______ 	 	The
    investor certifies that it is an insurance company as defined in Section 2(13) of the Securities Act of 1933, or a registered
    investment company.

 

    	 

    	 

    

 

Investor
Profile

(Must
be completed by Investor)

Section
A - Personal Investor Information

 

Investor
Name(s):_________________________________________________________

Individual
executing Profile or Trustee:__________________________________________________________________

___________________________ 

Year
of Birth: _________________________________________    Investment Experience (Years):__________________

Home
Street Address:_______________________________________________________________________________

___________________________

Home
City, State & Zip Code:_________________________________________________________________________

___________________________

Home
Phone: ___________________________Home Fax: ______________________________mail:________________

Employer:________________________________________________________________________________________

_______________________ 

Employer
Street

Address:_____________________________________________________________________________________

Employer
City, State & Zip

Code:________________________________________________________________________________________

____________ 

Bus.
Phone: ________________________________________Bus. Fax: ___________________________________Bus. Email:_______________________

Type
of Business: _________________________________________________________________________________

_________________________ 

Outside
Broker/Dealer:

 

Section
B – Certificate Delivery Instructions

 

______Please
deliver certificate to the Employer Address listed in Section A.

______Please
deliver certificate to the Home Address listed in Section A.

______Please
deliver certificate to the following address:

 

Section
C – Form of Payment – Check or Wire Transfer

 

______Check
payable to [●]

______Wire
funds from my outside account according to Section 2(b) of the Subscription Agreement.

______The
funds for this investment are rolled over, tax deferred from within the allowed 60-day window.

______Please
check if you are a FINRA member or Affiliate of a FINRA member firm:

 

	 	 	 
	Investor Signature	 	Date

 

    	 

    	 

    

 

ANTI
MONEY LAUNDERING REQUIREMENTS

 

The
USA PATRIOT Act

 

The
USA PATRIOT Act is designed to detect, deter, and punish terrorists in the United States and abroad. The Act imposes new anti-money
laundering requirements on brokerage firms and financial institutions. Since April 24, 2002 all brokerage firms have been required
to have new, comprehensive anti-money laundering programs.

 

To
help you understand these efforts, we want to provide you with some information about money laundering and our steps to implement
the USA PATRIOT Act.

 

What
is money laundering?

 

Money
laundering is the process of disguising illegally obtained money so that the funds appear to come from legitimate sources or activities.
Money laundering occurs in connection with a wide variety of crimes, including illegal arms sales, drug trafficking, robbery,
fraud, racketeering, and terrorism.

 

How
big is the problem and why is it important?

 

The
use of the U.S. financial system by criminals to facilitate terrorism or other crimes could well taint our financial markets.
According to the U.S. State Department, one recent estimate puts the amount of worldwide money laundering activity at $1 trillion
a year.

 

What
are we required to do to eliminate money laundering?

 

Under
rules required by the USA PATRIOT Act, our anti-money laundering program must designate a special compliance officer, set up employee
training, conduct independent audits, and establish policies and procedures to detect and report suspicious transaction and ensure
compliance with such laws. As part of our required program, we may ask you to provide various identification documents or other
information. Until you provide the information or documents we need, we may not be able to effect any transactions for you.

 

 

 

ANTI-MONEY
LAUNDERING INFORMATION FORM

 

The
following is required in accordance with the AML provision of the USA PATRIOT ACT.

 

(Please
fill out and return with requested documentation.)

 

INVESTOR
NAME: ____________________________________________

 

LEGAL
ADDRESS: ________________________________________________________________________________

_______________________

 

______________________________________________________________________________________

_______________________ 

INVESTMENT
OBJECTIVE: ________________________________________________________________________

___________________________ 

FOR
INVESTORS WHO ARE ENTITIES: TYPE OF BUSINESS: _____________________________________________

_______________________________ 

IDENTIFICATION
& DOCUMENTATION AND SOURCE OF FUNDS:

 

    	 

    	 

    

 

	1.	Please
    submit a copy of non-expired identification for the authorized signatory(ies) on the investment documents, showing name, date
    of birth, address and signature. The address shown on the identification document MUST match the Investor’s address
    shown on the Investor Signature Page.

 

	 Current
    Driver’s License	 	or	 	Valid
    Passport	 	or	 	Identity
    Card

(Circle
one or more)

 

	2.	If
    the Investor is a corporation, limited liability company, trust or other type of entity, please submit the following requisite
    documents: (i) Certificate of Incorporation, By-Laws, Certificate of Formation, Operating Agreement, Trust or other similar
    documents for the type of entity; and (ii) Corporate Resolution or power of attorney or other similar document granting authority
    to signatory(ies) and designating that they are permitted to make the proposed investment.

 

	3.	Please
    advise where the funds were derived from to make the proposed investment:

 

	 Investments	 	Savings	 	Proceeds
    of Sale	 	Other
    ___________ 

(Circle
one or more)

 

	Signature:
    _________________________________	 
	Print
    Name: ________________________________	 
	Title
    (if applicable): __________________________	 
	Date: _____________________________________	 

 

    	 

    	 

    

 

Appendix
A

Form
of Warrant

 

THIS
WARRANT AND THE COMMON SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED. THIS WARRANT AND THE COMMON SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED
OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY
TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

	 	Right
    to Purchase _____ shares of Common Stock of IR-Med, Inc. (subject to adjustment as provided herein)

 

FORM
OF COMMON STOCK PURCHASE WARRANT

 

	No.
    2021- _____	Issue
    Date: __________, ____

 

IR-MED,
INC., a corporation organized under the laws of the State of Nevada (the “Company”), hereby certifies that, for value
received, _________, or its assigns (the “Holder”), is entitled, subject to the terms set forth below, to purchase
from the Company at any time after the Issue Date until 5:00 p.m., E.T. on December 28, 2023 (the “Expiration Date”),
_____________ (_________) fully paid and nonassessable shares of Common Stock at a per share purchase price of $0.64 (the “Purchase
Price”). The number of such shares of Common Stock and the Purchase Price are subject to adjustment as provided herein.
The Company may reduce the Purchase Price without the consent of the Holder. Capitalized terms used and not otherwise defined
herein shall have the meanings set forth in that certain Subscription Agreement (the “Subscription Agreement”),
dated on or about January 21, 2021, entered into by the Company and Holder.

 

As
used herein the following terms, unless the context otherwise requires, have the following respective meanings:

 

(a)
The term “Company” shall mean IR-Med, Inc. and any corporation which shall succeed or assume the obligations thereof
hereunder.

 

(b)
The term “Common Stock” includes (a) the Company’s common stock, $0.001 par value per share, as authorized on
the date of the Subscription Agreement, and (b) any Other Securities into which or for which any of the securities described in
(a) may be converted or exchanged pursuant to a plan of recapitalization, reorganization, merger, sale of assets or otherwise.

 

(c)
The term “Other Securities” refers to any stock (other than Common Stock) and other securities of the Company or any
other person (corporate or otherwise) which the holder of the Warrant at any time shall be entitled to receive, or shall have
received, on the exercise of the Warrant, in lieu of or in addition to Common Stock, or which at any time shall be issuable or
shall have been issued in exchange for or in replacement of Common Stock or Other Securities pursuant to Section 5 or otherwise.

 

    	 

    	 

    

 

(d)
The term “Warrant Shares” shall mean the Common Stock issuable upon exercise of this Warrant.

 

1.
Exercise of Warrant.

 

1.1.
Number of Shares Issuable upon Exercise. From and after the Issue Date through and including the Expiration Date, the Holder
hereof shall be entitled to receive, upon exercise of this Warrant in whole in accordance with the terms of subsection 1.2 or
upon exercise of this Warrant in part in accordance with subsection 1.3, Common Stock of the Company, subject to adjustment pursuant
to Section 4.

 

1.2.
Full Exercise. This Warrant may be exercised in full by the Holder hereof by delivery of an original or facsimile copy
of the form of subscription attached as Exhibit A hereto (the “Subscription Form”) duly executed by such Holder and
delivery within two days thereafter of payment by wire transfer or by certified or official bank check payable to the order of
the Company, in the amount obtained by multiplying the number of shares of Common Stock for which this Warrant is then exercisable
by the Purchase Price then in effect. The original Warrant is not required to be surrendered to the Company until it has been
fully exercised.

 

1.3.
Partial Exercise. This Warrant may be exercised in part (but not for a fractional share) by surrender of this Warrant in
the manner and at the place provided in subsection 1.2 except that the amount payable by the Holder on such partial exercise shall
be the amount obtained by multiplying (a) the number of whole shares of Common Stock designated by the Holder in the Subscription
Form by (b) the Purchase Price then in effect. On any such partial exercise provided the Holder has surrendered the original Warrant,
the Company, at its expense, will forthwith issue and deliver to or upon the order of the Holder hereof a new Warrant of like
tenor, in the name of the Holder hereof or as such Holder (upon payment by such Holder of any applicable transfer taxes) may request,
the whole number of shares of Common Stock for which such Warrant may still be exercised for the balance of.

 

1.7.
Delivery of Stock Certificates, etc. on Exercise. Pursuant to the terms of a Subscription Form, the Company will issue
instructions to the transfer agent accompanied by an opinion of counsel, if so required by the Company’s transfer agent
and shall cause the transfer agent to transmit the certificates representing the shares of Common Stock purchased upon exercise
of this Warrant to the Holder by crediting the account of the Holder’s designated broker with the Depository Trust Corporation
(“DTC”) through its Deposit Withdrawal Agent Commission (“DWAC”) system within four (4) business days
after receipt by the Company of the Subscription Form. The Company agrees that the shares of Common Stock purchased upon exercise
of this Warrant shall be deemed to be issued to the Holder hereof as the record owner of such shares as of the close of business
on the date on which this Warrant shall have been surrendered and payment made for such shares as aforesaid. As soon as practicable
after the exercise of this Warrant in full or in part, and in any event within four (4) business days thereafter (“Warrant
Share Delivery Date”), the Company at its expense (including the payment by it of any applicable issue taxes) will cause
to be issued in the name of and delivered to the Holder hereof, or as such Holder (upon payment by such Holder of any applicable
transfer taxes) may direct in compliance with applicable securities laws, a certificate or certificates for the number of duly
and validly issued, fully paid and nonassessable shares of Common Stock (or Other Securities) to which such Holder shall be entitled
on such exercise, plus, in lieu of any fractional share to which such Holder would otherwise be entitled, cash equal to such fraction
multiplied by the then fair market value of one full share of Common Stock, together with any other stock or other securities
and property (including cash, where applicable) to which such Holder is entitled upon such exercise pursuant to Section 1 or otherwise.

 

    	 

    	 

    

 

2.
Adjustment for Reorganization, Consolidation, Merger, etc.

 

2.1.
Fundamental Transaction. If, at any time while this Warrant is outstanding, (A) the Company effects any merger or consolidation
of the Company with or into another entity, (B) the Company effects any sale of all or substantially all of its assets in one
or a series of related transactions, (C) any tender offer or exchange offer (whether by the Company or another entity) is completed
pursuant to which holders of Common Stock are permitted to tender or exchange their shares for other securities, cash or property,
or (D) the Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common
Stock is effectively converted into or exchanged for other securities, cash or property (in any such case, a “Fundamental
Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each
Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction
upon exercise of this Warrant, the number of shares of Common Stock of the successor or acquiring corporation or of the Company,
if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable upon
or as a result of such reorganization, reclassification, merger, consolidation or disposition of assets by a Holder of the number
of shares of Common Stock for which this Warrant is exercisable immediately prior to such event

 

2.2
Continuation of Terms. Upon any reorganization, consolidation, merger or transfer (and any dissolution following any transfer)
referred to in this Section 3, this Warrant shall continue in full force and effect and the terms hereof shall be applicable to
the Other Securities and property receivable on the exercise of this Warrant after the consummation of such reorganization, consolidation
or merger or the effective date of dissolution following any such transfer, as the case may be, and shall be binding upon the
issuer of any Other Securities, including, in the case of any such transfer, the person acquiring all or substantially all of
the properties or assets of the Company.

 

2.3
Extraordinary Events Regarding Common Stock. In the event that the Company shall (a) issue additional shares of the Common
Stock as a dividend or other distribution on outstanding Common Stock, (b) subdivide its outstanding shares of Common Stock, or
(c) combine its outstanding shares of the Common Stock into a smaller number of shares of the Common Stock, then, in each such
event, the Purchase Price shall, simultaneously with the happening of such event, be adjusted by multiplying the then Purchase
Price by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to such
event and the denominator of which shall be the number of shares of Common Stock outstanding immediately after such event, and
the product so obtained shall thereafter be the Purchase Price then in effect. The Purchase Price, as so adjusted, shall be readjusted
in the same manner upon the happening of any successive event or events described herein in this Section 4. The number of shares
of Common Stock that the Holder of this Warrant shall thereafter, on the exercise hereof as provided in Section 1, be entitled
to receive shall be adjusted to a number determined by multiplying the number of shares of Common Stock that would otherwise (but
for the provisions of this Section 4) be issuable on such exercise by a fraction of which (a) the numerator is the Purchase Price
that would otherwise (but for the provisions of this Section 2) be in effect, and (b) the denominator is the Purchase Price in
effect on the date of such exercise.

 

    	 

    	 

    

 

3.
Replacement of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or
mutilation of this Warrant and, in the case of any such loss, theft or destruction of this Warrant, on delivery of an indemnity
agreement or security reasonably satisfactory in form and amount to the Company or, in the case of any such mutilation, on surrender
and cancellation of this Warrant, the Company at its expense, twice only, will execute and deliver, in lieu thereof, a new Warrant
of like tenor.

 

4.
Maximum Exercise. The Holder shall not be entitled to exercise this Warrant on an exercise date, in connection with that
number of shares of Common Stock which would be in excess of the sum of (i) the number of shares of Common Stock beneficially
owned by the Holder and its affiliates on an exercise date, and (ii) the number of shares of Common Stock issuable upon the exercise
of this Warrant with respect to which the determination of this limitation is being made on an exercise date, which would result
in beneficial ownership by the Holder and its affiliates of more than 4.99% of the outstanding shares of Common Stock on such
date. For the purposes of the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section
13(d) of the Securities Exchange Act of 1934, as amended, and Regulation 13d-3 thereunder. Subject to the foregoing, the Holder
shall not be limited to aggregate exercises which would result in the issuance of more than 4.99%. The restriction described in
this paragraph may be waived, in whole or in part, upon sixty-one (61) days prior notice from the Holder to the Company to increase
such percentage to up to 9.99%, but not in excess of 9.99%. The Holder may decide whether to convert a Convertible Note, Preferred
Stock or exercise this Warrant to achieve an actual 4.99% or up to 9.99% ownership position as described above, but not in excess
of 9.99%.

 

5.
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid,
or (iv) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party
shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder
shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting
facsimile machine, at the address or number designated below (if delivered on a business day during normal business hours where
such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during
normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing by
express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first
occur or (c) three business days after deposited in the mail if delivered pursuant to subsection (ii) above. The addresses for
such communications shall be: (i) if to the Company to: IR-Med, Inc., Limor Davidson Mund (limor@ir-medical.com), (ii) if to the
Holder, to the addresses and telecopier number set forth in the first paragraph of this Warrant.

 

6.
Miscellaneous. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument
in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. This Warrant
shall be construed and enforced in accordance with and governed by the laws of Nevada. Any dispute relating to this Warrant shall
be adjudicated in Las Vegas County in the State of Nevada. The headings in this Warrant are for purposes of reference only, and
shall not limit or otherwise affect any of the terms hereof. The invalidity or unenforceability of any provision hereof shall
in no way affect the validity or enforceability of any other provision.

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the Company has executed this Warrant as of the date first written above.

 

	IR-MED,
    INC.   	 
	 	 
	By:	      	 
	Name:	 	 
	Title:	 	 

 

    	 

    	 

    

 

Exhibit
A

 

FORM
OF SUBSCRIPTION

(to
be signed only on exercise of Warrant)

 

TO:
IR-Med Inc.

 

The
undersigned, pursuant to the provisions set forth in the attached Warrant (No.____), hereby irrevocably elects to purchase (check
applicable box):

 

___
________ shares of the Common Stock covered by such Warrant,

 

 

The
undersigned herewith makes payment of the full purchase price for such shares at the price per share provided for in such Warrant,
which is $___________. Such payment takes the form of (check applicable box or boxes):

 

___
$__________ in lawful money of the United States.

 

 

The
undersigned requests that the certificates for such shares be issued in the name of, and delivered to __________________________________________________________________________________
whose address is

________________________________________________________________________________________________

________________________

________________________________________________________________________________________________

________________________

 

Number
of Shares of Common Stock Beneficially Owned on the date of exercise: Less than five percent (5%) of the outstanding Common Stock
of IR-Med Inc.

 

The
undersigned represents and warrants that the representations and warranties in Section 4 of the Subscription Agreement (as defined
in this Warrant) are true and accurate with respect to the undersigned on the date hereof.

 

The
undersigned represents and warrants that all offers and sales by the undersigned of the securities issuable upon exercise of the
within Warrant shall be made pursuant to registration of the Common Stock under the Securities Act of 1933, as amended (the “Securities
Act”), or pursuant to an exemption from registration under the Securities Act.

 

	Dated:___________________
	 	 
	 	 	(Signature
                                         must conform to name of holder as

        specified
        on the face of the Warrant)

	 	 	 
	 	 	 
	 	 	 
	 	 	(Address)

 

    	 

    	 

    

 

Exhibit
B

 

FORM
OF TRANSFEROR ENDORSEMENT

(To
be signed only on transfer of Warrant)

 

	Dated:
    ______________, _____________	 	 
	 	 	(Signature
                                         must conform to name of holder as specified

        on
        the face of the warrant)

	Signed
    in the presence of:	 	 
	 	 	 
	 	 	 
	(Name)	 	 
	 	 	(address)
	ACCEPTED
    AND AGREED:	 	 
	[TRANSFEREE]	 	 
	 	 	 
	 	 	 
	 	 	(address)
	(Name)

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