Document:

EX-10.02

 Exhibit 10.02 

INDEMNIFICATION AGREEMENT 

(Executive Officers) 
 This
Indemnification Agreement (this “Agreement”) is made as of ________________ by and between Computer Task Group, Incorporated, a New York corporation (the “Corporation”), and _____________________, an officer of the
Corporation (“Executive”). 
 RECITALS 

WHEREAS, candidates highly qualified for service on the boards of directors of publicly-held corporations have become increasingly reluctant
to serve in that capacity or in other related capacities unless they are provided with strong protection through indemnification and insurance against the substantial and escalating risks of, and potential liability from, claims and actions arising
out of their service to and activities on behalf of such corporations, which risks, absent such adequate protection, would far outweigh the compensation and other benefits to such persons of serving as directors or officers; 

WHEREAS, although the Board of Directors of the Corporation (the “Board”) has determined that, in order to attract and retain
such persons to serve on the Board or in key executive positions, the Corporation will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving on the Board, as an executive officer or in other
related capacities from certain liabilities, the Board recognizes that such insurance may be available to it in the future only at higher premiums and with more exclusions from its coverage, which reduces the value of such insurance to directors and
executive officers and increases the importance of indemnification by the Corporation to protect directors and executive officers against such liabilities; 

WHEREAS, it is essential for the Corporation to be able to attract and retain the most capable persons available to serve on the Board and as
key executive officers, and the uncertainties relating to such insurance and indemnification has increased the difficulty of attracting and retaining such persons; 

WHEREAS, in order to induce the most qualified persons to serve and continue to serve as directors and executive officers of the Corporation,
the Corporation desires to provide directors and executive officers with specific contractual assurance of their rights to full indemnification against litigation risks and expenses associated with their service as a director or executive officer of
the Corporation and in other related capacities regardless of, among other things, any amendment to or revocation of the Corporation’s Certificate of Incorporation or By-laws or any change in the
ownership of the Corporation or in the composition of the Board; 
 WHEREAS, the Corporation intends that this Agreement will provide
Executive with greater protection than that which is provided by the Corporation’s Certificate of Incorporation and By-laws, and that this Agreement shall supplement and be in furtherance of the By-laws of the Corporation and any resolutions adopted pursuant thereto, as well as any rights of Executive under any directors’ and officers’ liability insurance policy, and this Agreement shall not be
deemed a substitute therefore, and shall not diminish or abrogate any rights of Executive thereunder; and 

 WHEREAS, Executive is relying upon the rights afforded under this Agreement in deciding to
begin serving or continue to serve as a director or an executive officer of the Corporation. 
 NOW, THEREFORE, in consideration of the
premises and covenants contained herein, and in order to induce Executive to serve as or to continue to serve as a director or executive officer of the Corporation and in consideration of Executive’s so serving, the Corporation and Executive do
hereby covenant and agree as follows: 
 Section 1. Services to the Corporation. Executive agrees to serve or continue to serve
as an executive officer or director of the Corporation and may serve as a director, officer, employee, agent or fiduciary of one or more Covered Entities (as defined below). Executive may at any time and for any reason resign from any such position
(subject to any other contractual obligation or any obligation imposed by operation of law), in which event the Corporation shall have no obligation under this Agreement to continue Executive in any such position. This Agreement shall not be deemed
an employment contract between Executive and the Corporation (or any Covered Entity). The foregoing notwithstanding, this Agreement shall continue in force after Executive has ceased to serve as an executive officer or director of the Corporation or
otherwise ceased to have Corporate Status (as defined below). 
 Section 2. Definitions. As used in this Agreement: 

(a) A “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of any of the
following events: 
 (i) Acquisition of Stock by Third Party. Unless explicitly approved by the Incumbent Board (as defined below),
any Person (as defined below) other than the Corporation, any subsidiary of the Corporation, or any employee benefit plan of the Corporation or of any of its subsidiaries or any Person holding common shares of the Corporation for or pursuant to the
terms of any such employee benefit plan, is or becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Corporation representing 30% or more of the combined voting power of the Corporation’s then outstanding
securities entitled to then vote generally in the election of directors of the Corporation; 
 (ii) Change in Board of Directors. A
change in the composition of the Board of Directors of the Corporation during any periods not longer than two consecutive years such that the individuals who, as of the beginning of such period, constitute the Board of Directors of the Corporation
(such Board of Directors shall be hereinafter referred to as the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board of Directors of the Corporation; provided, however, for purposes of this clause
(ii), any individual who becomes a member of the Board of Directors of the Corporation subsequent to the date hereof whose election, or nomination for election by the Corporation’s shareholders, was approved by a vote of at least three quarters
of those individuals who are members of the Board 

  
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of Directors of the Corporation and who were also members of the Incumbent Board (or deemed to be such pursuant to this provision) shall be considered as though such individual were a member of
the Incumbent Board; but, provided, further, that any such individual whose initial assumption of office occurs as a result of an actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board of Directors
of the Corporation shall not be so considered as a member of the Incumbent Board; or 
 (iii) Corporation Transactions. The effective
date of a merger or consolidation of the Corporation with any other entity that is not a subsidiary or other affiliate of the Corporation, other than a merger or consolidation which would result in the voting securities of the Corporation
outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) greater than or equal to 50% of the combined voting power of
the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity (assuming for
purposes of such determination that there is no change in the record ownership of the Corporation’s securities from the record date for such approval until such reorganization and that such record owners hold no securities of the other parties
to such reorganization, but including in such determination any securities of the other parties to such reorganization held by affiliates of the Corporation); 

(iv) Liquidation. The dissolution or liquidation of the Corporation or the sale or disposition by the Corporation of all or
substantially all of the Corporation’s business and/or assets to a person or entity that is not a subsidiary or other affiliate of the Corporation; and 

(v) Other Events. Unless the event is explicitly approved by the Incumbent Board, there occurs any event of a nature that would be
required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under the Exchange Act, as hereinafter defined, regardless of whether the Corporation
is then subject to such reporting requirement. 
 Solely for purposes of this Section 2(a), the following terms shall have the
following meanings: 
 (A) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

(B) “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act and, for greater clarity,
shall include, without limitation, any entity or “group” within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act; provided, however, that Person shall exclude (i) the Corporation, (ii) any trustee or other
fiduciary holding securities under an employee benefit plan of the Corporation, and (iii) any entity owned, directly or indirectly, by the shareholders of the Corporation in substantially the same proportions as their ownership of stock of the
Corporation. 
 (C) “Beneficial Owner” shall have the meaning given to such term in
Rule 13d-3 under the Exchange Act; provided, however, that Beneficial Owner shall exclude any Person otherwise becoming a Beneficial Owner by reason of the shareholders of the Corporation approving a
merger, consolidation or other business combination of the Corporation with another entity. 

  
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 (b) “Corporate Status” describes the status of a person who is or was a
director, trustee, partner, managing member, officer, employee, agent or fiduciary of the Corporation or any Covered Entity. 
 (c)
“Covered Entity” shall mean the Corporation and any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other entity or enterprise (as well as any domestic or foreign predecessor
entity of each such entity in a merger, consolidation or other transaction) of which Executive is, was or may be deemed to be serving at the request of the Corporation as a director, officer, employee, partner (limited or general), trustee, agent or
fiduciary. References to “serving at the request of the Corporation” shall include any service as a director, officer, employee, partner (limited or general), trustee, agent or fiduciary of a Covered Entity which imposes duties on, or
involves services by, such director, officer, employee, partner (limited or general), trustee, agent or fiduciary with respect to an employee benefit plan, its participants or beneficiaries. 

(d) “Disinterested Director” means a director of the Corporation who is not and was not a party to the Proceeding in respect
of which indemnification is sought by Executive and does not otherwise have an interest materially adverse to any interest of Executive. 

(e) “Disqualifying Conduct” means (i) acts were committed by Executive in bad faith or were the result of active and
deliberate dishonesty by Executive and were material to the cause of action or (ii) that Executive personally gained in fact a financial profit or other advantage to which he was not legally entitled. 

(f) “Expenses” shall include all reasonable attorneys’ fees, retainers, court and arbitration costs, transcript costs,
fees and other costs of experts and other professionals, witness fees, travel expenses, duplicating costs, printing and binding costs, scanning and data processing charges, electronic legal research and other database charges, telephone charges,
postage, delivery service fees, and all other disbursements, obligations or expenses of the types customarily incurred in connection with, or as a result of, prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing
to be a deponent or witness in, or otherwise participating in, a Proceeding. Expenses also shall include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including the premium, security for, and other costs
relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent, (ii) Expenses incurred in connection with recovery under any directors’ and officers’ liability insurance policies maintained by the Corporation,
regardless of whether Executive is ultimately determined to be entitled to such indemnification, advancement or Expenses or insurance recovery, as the case may be, and (iii) for purposes of Section 12(d) only, Expenses incurred by
Executive in connection with the interpretation, enforcement or defense of Executive’s rights under this Agreement, the Certificate of Incorporation, the By-laws or under any directors’ and
officers’ liability insurance policies maintained by the Corporation by litigation or otherwise. Expenses, however, shall not include amounts paid in settlement by Executive or the amount of judgments or fines (including any excise tax assessed
with respect to any employee benefit plan) against Executive. 

  
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 (g) “Independent Counsel” means a law firm, or a member of a law firm, that
is experienced in matters of corporation law and that neither presently is, nor in the past five years has been, retained to represent any of the following: (i) the Corporation or Executive in any matter material to either such party (other
than with respect to matters concerning Executive under this Agreement, or of other executive officers or directors of the Corporation under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim
for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in
representing either the Corporation or Executive in an action to determine Executive’s rights under this Agreement. The Corporation agrees to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully
indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 

(h) “Losses” means Expenses, judgments, costs, fines (including any excise tax assessed with respect to any employee benefit
plan) and amounts paid in settlement actually incurred by Executive (net of any related insurance proceeds or other indemnification payments received by Executive or paid on Executive’s behalf as described in Section 7(a)). 

(i) “Potential Change in Control” shall be deemed to have occurred if (i) the Corporation enters into an agreement or
arrangement, the consummation of which would result in the occurrence of a Change in Control; (ii) any person (including the Corporation) publicly announces an intention to take or to consider taking actions that, if consummated, would
constitute a Change in Control; (iii) unless explicitly approved by the Incumbent Board, any Person other than the Corporation, any subsidiary of the Corporation, or any employee benefit plan of the Corporation or of any of its subsidiaries or
any Person holding common shares of the Corporation for or pursuant to the terms of any such employee benefit plan, is or becomes the Beneficial Owner, directly or indirectly, of securities of the Corporation representing 20% or more of the combined
voting power of the Corporation’s then outstanding securities entitled to then vote generally in the election of directors of the Corporation; or (iv) the Board adopts a resolution to the effect that, for purposes of this Agreement, a
Potential Change in Control has occurred. 
 (j) “Proceeding” shall include any threatened, pending or completed action,
suit, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Corporation or otherwise and whether of
a civil, criminal, administrative, legislative, regulatory or investigative nature, including any appeal therefrom, in which Executive was, is or may be involved as a party or otherwise by reason of Executive’s Corporate Status or by reason of
any action taken by him or of any action or omission on his part in connection with Executive’s Corporate Status, in each case regardless of whether Executive retains Corporate Status at the time any liability or expense is incurred for which
indemnification, reimbursement, or advancement of expenses can be provided under this Agreement. However, a “Proceeding” does not include an action, suit or proceeding initiated by Executive to enforce his rights under this Agreement. 

  
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 Section 3. Indemnification. The Corporation shall indemnify Executive and hold
Executive harmless against any and all Losses in connection with any present or future threatened, pending or completed Proceeding, regardless of whether such Proceeding is by or in the right of the Corporation, based upon, arising from, relating
to, or by reason of Executive’s Corporate Status; provided, that no indemnification pursuant to this Section 3 may be made to Executive or on Executive’s behalf with respect to a Proceeding if a final judgment or other final
adjudication adverse to Executive establishes that Executive engaged in Disqualifying Conduct with respect to the claims, issues and matters in such Proceeding. 

Section 4. Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provisions of
this Agreement, to the fullest extent permitted by applicable law and to the extent that Executive is a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in the defense of any claim, issue or matter
therein, in whole or in part, the Corporation shall indemnify Executive against all Expenses actually and reasonably incurred by him in connection therewith. If Executive is not wholly successful in such Proceeding, but is successful, on the merits
or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Corporation shall indemnify Executive against all Expenses reasonably incurred in connection with each successfully resolved claim, issue or matter
and each claim, issue, or matter related to each successfully resolved claim, issue or matter. For purposes of this Section 4 and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or
without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 
 Section 5. Indemnification For
Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the fullest extent permitted by applicable law and to the extent that Executive, by reason of his Corporate Status, is a witness, is made (or asked) to respond to
discovery requests or is otherwise asked to participate in any Proceeding to which Executive is not a party, he shall be indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. 

Section 6. Additional Indemnification. 

(a) Notwithstanding any limitation in Sections 3 or 4, the Corporation shall indemnify Executive to the fullest extent permitted by applicable
law if Executive is, or threatened to be made, a party to or a participant in any Proceeding (including a Proceeding by or in the right of the Corporation to procure a judgment in its favor) against all Losses of Executive in connection with the
Proceeding. 
 (b) For purposes of this Agreement, the meaning of the phrase “to the fullest extent permitted by applicable
law” shall include the following: 
 (i) to the fullest extent permitted by the provision of the New York Business Corporation Law
(“NYBCL”) that authorizes or contemplates additional indemnification by agreement, or the corresponding provision of any amendment to or replacement of the NYBCL; and 

  
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 (ii) to the fullest extent authorized or permitted by any amendments to or replacements of
the NYBCL adopted after the date of this Agreement that increase the extent to which a corporation may indemnify its officers and directors. 

Section 7. Exclusions. Notwithstanding any provision in this Agreement, the Corporation shall not be obligated under this
Agreement to make any indemnity or advance in connection with any claim made against Executive: 
 (a) for which payment has actually been
made to or for the account of Executive under any insurance policy, other indemnity provision, contract or agreement, except with respect to any excess beyond the amount paid to Executive under any insurance policy, other indemnity provision,
contract or agreement; 
 (b) for (i) an accounting of profits made from the purchase and sale (or sale and purchase) by Executive of
securities of the Corporation that did, in fact, violate Section 16(b) of the Exchange Act, (ii) any reimbursement of the Corporation by Executive of any bonus or other incentive-based or equity-based compensation or of any profits
realized by Executive from the sale of securities of the Corporation, as required in each case under the Exchange Act or (iii) any reimbursement of the Corporation by Executive of any compensation pursuant to any compensation recoupment or
clawback policy adopted by the Board or the compensation committee of the Board, including but not limited to any such policy adopted to comply with stock exchange listing requirements implementing Section 10D of the Exchange Act; 

(c) except as otherwise provided in Section 12(d) of this Agreement, in connection with any Proceeding (or any part of any Proceeding)
initiated by Executive, including any Proceeding (or any part of any Proceeding) initiated by Executive against the Corporation or its directors, officers or employees, unless (i) the Board of Directors of the Corporation authorized the
Proceeding (or any part of any Proceeding) prior to its initiation, (ii) such payment arises in connection with any mandatory counterclaim or cross claim brought or raised by Executive in any Proceeding (or any part of any Proceeding), or
(iii) the Corporation provides the indemnification, in its sole discretion, pursuant to the powers vested in the Corporation under applicable law; or 

(d) for which such indemnity or advance is prohibited by applicable law; provided, however, that in the event that the Corporation is advised,
in a written opinion of its regular outside legal counsel, that the Corporation’s performance of any provision of this Agreement would violate Section 13(k) of the Exchange Act, then the parties agree to revise and replace such provision
in a manner that will result in a new provision that does not violate such provision and the legal effect of which comes as close as possible to what the parties had intended to achieve with the original provision. 

  
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 Section 8. Advances of Expenses. Notwithstanding any provision of this Agreement
to the contrary, the Corporation shall advance, to the extent not prohibited by law, the Expenses incurred by or on behalf of Executive (or reasonably expected to be incurred by Executive during the six months following any such request) in
connection with any Proceeding, and such advancement shall be made within 30 days after the receipt by the Corporation of a statement or statements requesting such advances from time to time, whether prior to or after final disposition of any
Proceeding. Advances shall be unsecured and interest free. Advances shall be made without regard to Executive’s ability to repay the amounts advanced and without regard to Executive’s ultimate entitlement to indemnification under the other
provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Corporation to support the
advances claimed. The Executive shall qualify for advances upon the execution and delivery to the Corporation of this Agreement, which shall constitute an undertaking providing that Executive undertakes to repay the advance (without interest) by the
Corporation pursuant to this Section 8, if and only to the extent that it is ultimately determined that Executive is not entitled to be indemnified by the Corporation. This Section 8 shall not apply to any claim made by Executive for which
indemnity is excluded pursuant to Section 7. 
 Section 9. Procedure for Notification and Defense of Claim. 

(a) Executive shall notify the Corporation in writing of any matter with respect to which Executive intends to seek indemnification or
advancement of Expenses hereunder as soon as reasonably practicable following the receipt by Executive of written notice thereof. The written notification to the Corporation shall include a description of the nature of the Proceeding and the facts
underlying the Proceeding. To obtain indemnification under this Agreement, Executive shall submit to the Corporation a request, including therein or therewith such documentation and information as is reasonably available to Executive and is
reasonably necessary to determine whether and to what extent Executive is entitled to indemnification following the final disposition of such action, suit or proceeding. The omission by Executive to notify the Corporation hereunder will not relieve
the Corporation from any liability which it may have to Executive hereunder or otherwise than under this Agreement, and any delay in so notifying the Corporation shall not constitute a waiver by Executive of any rights under this Agreement. The
Secretary of the Corporation shall, promptly upon receipt of such a request for indemnification, advise the Board in writing that Executive has requested indemnification. 

(b) The Corporation will be entitled to participate in the Proceeding at its own expense. 

(c) In the event the Corporation may be obligated to make any indemnity in connection with a Proceeding, Executive shall have the express right
to retain legal counsel of its choice to represent Executive’s interests in connection with said Proceeding, and the Corporation shall advance to Executive in accordance with the terms of this Agreement the Expenses incurred by Executive in
connection therewith. If the Corporation and Executive conclude that it would not create any conflict of interest, Executive may, in his sole discretion, request that the Corporation’s legal counsel assume the representation of Executive in
connection with the Proceeding, and the Corporation shall grant said request and bear all of the attorneys’ fees and costs of said representation. 

  
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 (d) The Corporation shall not settle any Proceeding (in whole or in part) if such settlement
would impose any Expense, judgment, liability, fine, penalty or limitation on Executive in respect of which Executive is not entitled to be indemnified hereunder without Executive’s prior written consent, which shall not be unreasonably
withheld. 
 Section 10. Procedure Upon Application for Indemnification. 

(a) Upon written request by Executive for indemnification pursuant to the first sentence of Section 9(a), a determination, if required by
applicable law or this Agreement, with respect to Executive’s entitlement thereto shall be made in the specific case: 
 (i) if a
Potential Change in Control or a Change in Control shall have occurred, by Independent Counsel selected in accordance with Section 10(b) in a written opinion to the Board, a copy of which shall be delivered to Executive; or 

(ii) if neither a Potential Change in Control nor a Change in Control shall have occurred, in the following manner: 

(A) by the Board acting by a quorum of Disinterested Directors; or 

(B) if such a quorum is not obtainable or, even if obtainable, a quorum of Disinterested Directors so directs, (x) by the Board upon the
opinion in writing of Independent Counsel selected in accordance with Section 10(b), or (y) by the shareholders of the Corporation. 
 If it is so
determined that Executive is entitled to indemnification, payment to Executive shall be made within ten days after such determination. Executive shall cooperate with the person, persons or entity making such determination with respect to
Executive’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information that is not privileged or otherwise protected from disclosure and that is
reasonably available to Executive and reasonably necessary to such determination. Any costs or expenses (including attorneys’ fees and disbursements) incurred by or on behalf of Executive in so cooperating with the person, persons or entity
making such determination shall be borne by the Corporation (irrespective of the determination as to Executive’s entitlement to indemnification) and the Corporation hereby indemnifies and agrees to hold Executive harmless therefrom. 

(b) In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 10(a)
hereof, the Independent Counsel shall be selected as provided in this Section 10(b). If neither a Potential Change in Control or a Change in Control shall have occurred, the Independent Counsel shall be selected by the Board, and the
Corporation shall give written notice to Executive advising him of the identity of the Independent Counsel so selected. If a Potential Change in Control or a Change in Control shall have occurred, the Independent Counsel shall be selected by
Executive (unless Executive shall request that such selection be made by the Board, in which event the preceding sentence shall apply), and Executive shall give written notice to the Corporation advising it of the identity of the Independent Counsel
so selected. 

  
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 In either event, Executive or the Corporation, as the case may be, may, within ten days after such written
notice of selection shall have been given, deliver to the Corporation or to Executive, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the
Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 2, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely
objection, the person so selected shall act as Independent Counsel. If such written objection is so made, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court or an
arbitrator has determined that such objection is without merit. If, within 20 days after the later of submission by Executive of a written request for indemnification pursuant to Section 10(a) hereof or the final disposition of the Proceeding,
no Independent Counsel shall have been selected and not objected to, either the Corporation or Executive may petition a court of competent jurisdiction or commence an arbitration before a single arbitrator pursuant to the Commercial Arbitration
Rules of the American Arbitration Association for resolution of any objection that shall have been made by the Corporation or Executive to the other’s selection of Independent Counsel or for the appointment as Independent Counsel of a person
selected by such court or arbitrator or by such other person as such court or arbitrator shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under
Section 10(a) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 12(a), Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the
applicable standards of professional conduct then prevailing). 
 (c) If the Corporation disputes a portion of the amounts for which
indemnification is requested, the undisputed portion shall be paid and only the disputed portion withheld pending resolution of any such dispute. 

Section 11. Presumptions and Effect of Certain Proceedings. 

(a) In making a determination with respect to entitlement to indemnification hereunder, the person or entity making such determination shall,
to the fullest extent permitted by law, presume that Executive is entitled to indemnification under this Agreement if Executive has submitted a request for indemnification in accordance with Section 9(a), and the Corporation shall, to the
fullest extent permitted by law, have the burden of proof, by a preponderance of the evidence, to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption. Neither the
failure of the Corporation (including by its directors or Independent Counsel) to have made a determination prior to the commencement of any action or arbitration pursuant to this Agreement that indemnification is proper in the circumstances because
indemnification of Executive is not barred pursuant to the provisions of this Agreement or otherwise, nor an actual determination by the Corporation (including by its directors or Independent Counsel) that indemnification of Executive is barred
pursuant to the provisions of this Agreement or otherwise, shall be a defense to such action or arbitration or create a presumption that Executive is not entitled to indemnification. The termination of any Proceeding or any claim, issue or matter
therein by judgment, settlement, conviction or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that Executive engaged in Disqualifying Conduct. 

  
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 (b) Subject to Section 12(e), if the person, persons or entity empowered or selected
under Section 10 to determine whether Executive is entitled to indemnification shall not have made a determination within 60 days (or 30 days if the request was for an advance) after receipt by the Corporation of the request therefor, the
requisite determination of entitlement to indemnification shall, to the fullest extent permitted by law, be deemed to have been made and Executive shall be entitled to such indemnification, absent (i) a misstatement by Executive of a material
fact, or an omission of a material fact necessary to make Executive’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided,
however, that such 60-day period may be extended for a reasonable time, not to exceed an additional 30 days, if the person, persons or entity making the determination with respect to entitlement to
indemnification in good faith requires such additional time for the obtaining or evaluating of documentation or information relating thereto; and provided, further, that the foregoing provisions of this Section 11(b) shall not apply (i) if
the determination of entitlement to indemnification is to be made by the shareholders pursuant to Section 10(a) and if (A) within 15 days after receipt by the Corporation of the request for such determination the Board of Directors has
resolved to submit such determination to the shareholders for their consideration at an annual meeting thereof to be held within 75 days after such receipt and such determination is made thereat, or (B) a special meeting of shareholders is
called within 15 days after such receipt for the purpose of making such determination, such meeting is held for such purpose within 60 days after having been so called and such determination is made thereat, or (ii) if the determination of
entitlement to indemnification is to be made by Independent Counsel pursuant to Section 10(a). 
 (c) For purposes of any determination
of whether Executive acted in bad faith, Executive shall be deemed to have acted in good faith if Executive acted in reliance on the records or books of account of a Covered Entity, including financial statements, or on information supplied to
Executive by the officers of a Covered Entity in the course of their duties, or on the advice of legal counsel for the Covered Entity or on information or records given or reports made to the Covered Entity by an independent certified public
accountant or by an appraiser or other expert selected with reasonable care by the Covered Entity. The provisions of this Section 11(c) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Executive may be
deemed to be entitled to indemnification. 
 (d) A person who acted in good faith and in a manner he reasonably believed to be in the best
interests of the participants and beneficiaries of an employee benefit plan shall be deemed not to have acted in “bad faith” as referred to in this Agreement. 

(e) For purposes of determining whether Executive personally gained in fact a financial profit or other advantage to which he was not legally
entitled, to the fullest extent permitted by law, such determination shall be based upon whether Executive actually received an improper personal benefit in money, property or services. 

(f) The knowledge or actions, or failure to act, of any director, officer, trustee, partner, managing member, fiduciary, agent or employee of
the Covered Entity shall not be imputed to Executive for purposes of determining the right to indemnification under this Agreement. 

  
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 Section 12. Remedies of Executive. 

(a) Subject to Section 12(c), in the event that (i) a determination is made pursuant to Section 10 that Executive is not
entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 8, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 10(a) within 90
days (or 30 days if the request was for an advance) after receipt by the Corporation of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 4 or 5 or the last sentence of Section 10(a)
within ten days after receipt by the Corporation of a written request therefor, (v) payment of indemnification pursuant to Section 3 or 6 is not made within ten days after a determination has been made that Executive is entitled to
indemnification, or (vi) the Corporation or any other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding designed to deny, or to recover from,
Executive the benefits provided or intended to be provided to Executive hereunder, Executive shall be entitled to an adjudication by a court of his entitlement to such indemnification or advancement of Expenses. Alternatively, Executive, at his
option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Executive shall commence such proceeding seeking an adjudication or an award in
arbitration within 180 days following the date on which Executive first has the right to commence such proceeding pursuant to this Section 12(a); provided, however, that the foregoing clause shall not apply in respect of a proceeding brought by
Executive to enforce his rights under Section 5. The Corporation shall not oppose Executive’s right to seek any such adjudication or award in arbitration. 

(b) In the event that a determination shall have been made pursuant to Section 10(a) that Executive is not entitled to indemnification,
any judicial proceeding or arbitration commenced pursuant to this Section 12 shall be conducted in all respects as a de novo trial, or arbitration, on the merits and Executive shall not be prejudiced by reason of that adverse
determination. In any judicial proceeding or arbitration commenced pursuant to this Section 12 the Corporation shall have the burden of proving by a preponderance of the evidence that Executive is not entitled to indemnification or advancement
of Expenses, as the case may be. 
 (c) If a determination shall have been made pursuant to Section 10(a) that Executive is entitled to
indemnification, the Corporation shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 12, absent (i) a misstatement by Executive of a material fact, or an omission of a material
fact necessary to make Executive’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law. 

(d) The Corporation shall, to the fullest extent permitted by law, be precluded from asserting in any judicial proceeding or arbitration
commenced pursuant to this Section 12 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Corporation is bound by all the
provisions of this Agreement. It is the intent of the Corporation that Executive not be required to incur legal fees or other Expenses associated with the interpretation, enforcement or defense of Executive’s rights under this Agreement by
litigation or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended to Executive hereunder. 

  
 12 

 
The Corporation shall, to the fullest extent permitted by law, indemnify Executive against any and all Expenses and, if requested by Executive, shall (within 10 days after receipt by the
Corporation of a written request therefor) advance, to the extent not prohibited by law, such expenses to Executive, which are incurred by or on behalf of Executive in connection with any action brought by Executive for indemnification or advance of
Expenses from the Corporation under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the Corporation, regardless of whether Executive ultimately is determined to be entitled to such
indemnification, advancement of Expenses or insurance recovery, as the case may be. 
 (e) Notwithstanding anything in this Agreement to the
contrary, no determination as to entitlement to indemnification under this Agreement shall be required to be made prior to the final disposition of the Proceeding, whether by settlement or otherwise. 

(f) During the interval between the Corporation’s receipt of Executive’s request for indemnification and the later to occur of
(a) payment in full to Executive of such indemnification, or (b) a final determination (if required) pursuant to Sections 10 and 11 that Executive is not entitled to indemnification, the Corporation shall protect Executive against
loss which, for purposes of this Agreement, shall mean the taking of the necessary steps (regardless of whether such steps require expenditures to be made by the Corporation at that time) to stay, pending a final determination of Executive’s
entitlement to indemnification (and, if Executive is so entitled, the payment thereof), the execution, enforcement or collection of any judgments, penalties, fines (including any excise tax assessed with respect to any employee benefit plan) or any
other amounts for which Executive may be liable in order to avoid his being or becoming in default with respect to any such amounts (such necessary steps to include, but not be limited to, the procurement of a surety bond to achieve such stay),
within five business days after receipt of Executive’s written request therefor, together with a written undertaking by Executive to repay, no later than 60 days following receipt of a statement therefor from the Corporation, amounts (if any)
expended by the Corporation for such purpose, if it is ultimately determined (if such determination is required) pursuant to Sections 10 and 11 that Executive is not entitled to be indemnified against such judgments, penalties, fines (including
any excise tax assessed with respect to any employee benefit plan) or other amounts. 
 Section 13.
Non-exclusivity; Survival of Rights; Insurance; Subrogation. 
 (a) The rights of
indemnification and to receive advancement of Expenses as provided by this Agreement (i) shall not be deemed exclusive of any other rights to which Executive may at any time be entitled under applicable law, the Corporation’s Certificate
of Incorporation, the Corporation’s By-laws, the organizational and governing documents of any Covered Entity, any agreement, a vote of shareholders or a resolution of directors, or otherwise and
(ii) shall be interpreted independently of, and without reference to, any other such rights to which Executive may at any time be entitled. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict
any right of Executive under this Agreement in respect of any action taken or omitted by such Executive in his Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in New York law, whether by statute or
judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the Corporation’s Certificate of Incorporation, 

  
 13 

 
By-laws and this Agreement, it is the intent of the parties hereto that Executive shall enjoy by this Agreement the greater benefits so afforded by such
change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing
at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. 

(b) For the duration of Executive’s service as a director, officer or employee of the Corporation or as a director, officer, employee,
administrator, trustee, agent, partner, manager, member or fiduciary of any other Covered Entity, and thereafter for so long as Executive shall be subject to any pending or possible Proceeding, the Corporation shall use commercially reasonable
efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to cause to be maintained in effect policies of directors’ and officers’ liability insurance providing coverage for directors and/or
officers of the Corporation or any other Covered Entity that is at least substantially comparable in scope and amount to that provided by the Corporation’s current policies of directors’ and officers’ liability insurance. The minimum
AM Best rating for the insurance carriers of such insurance carrier shall be not less than A- VI. The Corporation shall provide Executive with a copy of all directors’ and officers’ liability
insurance applications, binders, policies, declarations, endorsements and other related materials, and shall provide Executive with a reasonable opportunity to review and comment on the same. Without limiting the generality or effect of the
requirement to use commercially reasonable efforts to obtain insurance and give directors the chance to review the proposal, the Corporation shall not discontinue or significantly reduce the scope or amount of coverage from one policy period to the
next without the prior approval thereof by a majority vote of the directors, even if less than a quorum. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Corporation has director and officer liability insurance
in effect, the Corporation shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Corporation shall thereafter take all necessary or desirable
action to cause such insurers to pay, on behalf of Executive, all amounts payable as a result of such proceeding in accordance with the terms of such policies. 

(c) In the event of any payment made by the Corporation under this Agreement, the Corporation shall be subrogated to the extent of such payment
to all of the rights of recovery of Executive, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Corporation to bring suit to enforce such
rights. 
 (d) The Corporation shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder (or
for which advancement is provided hereunder) if and to the extent that Executive has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise. 

(e) The Corporation’s obligation to provide indemnification or advancement hereunder to Executive who is or was serving at the request of
the Corporation shall be reduced by any amount Executive has actually received as indemnification or advancement from any Covered Entity. 

  
 14 

 Section 14. Settlement of Claims. The Corporation shall not be liable to
Executive under this Agreement for any amounts paid in settlement of any present or future threatened, pending or completed Proceeding based upon, arising from, relating to, or by reason of Executive’s Corporate Status without the
Corporation’s prior written consent, which shall not be unreasonably withheld; provided, however, that if a Potential Change in Control or a Change in Control has occurred, the Corporation shall be liable for indemnification of the Executive
for amounts paid in settlement if Independent Counsel has approved the settlement. The Corporation shall not settle any such Proceeding in any manner that would impose any Losses on the Executive without the Executive’s prior written consent.

 Section 15. Establishment of Trust. In the event of a Potential Change in Control or a Change in Control, to the extent
permitted by law, the Corporation shall, upon written request by Executive, create a trust for the benefit of Executive and, from time to time upon written request of Executive, shall fund such trust in an amount sufficient to satisfy any and all
Expenses reasonably anticipated at the time of each such request to be incurred in connection with investigating, preparing for, participating in and defending any Proceeding, and any and all judgments, fines, penalties and settlement amounts of any
and all Proceedings from time to time actually paid or claimed, reasonably anticipated or proposed to be paid. The amount or amounts to be deposited in the trust pursuant to the foregoing funding obligation shall be determined by Independent
Counsel. The terms of the trust shall provide that upon a Potential Change in Control or a Change in Control (i) the trust shall not be revoked or the principal thereof invaded, without the written consent of Executive, (ii) the trustee
shall advance, within ten business days of a request by Executive, any and all Expenses to Executive (and Executive hereby agrees to reimburse the trust under the circumstances under which Executive would be required to reimburse the Corporation
under Section 8 of this Agreement), (iii) the trust shall continue to be funded by the Corporation in accordance with the funding obligation set forth above, (iv) the trustee shall promptly pay to Executive all amounts for which Executive
shall be entitled to indemnification pursuant to this Agreement or otherwise, and (v) all unexpended funds in such trust shall revert to the Corporation upon a final determination by Independent Counsel or a court of competent jurisdiction, as
the case may be, that Executive has been fully indemnified under the terms of this Agreement. The trustee shall be a bank, trust company or other financial institution chosen by Executive. Nothing in this Section 15 shall relieve the
Corporation of any of its obligations under this Agreement. All income earned on the assets held in the trust shall be reported as income by the Corporation for federal, state, local, and foreign tax purposes. The Corporation shall pay all costs of
establishing and maintaining the trust and shall indemnify the trustee against any and all expenses (including attorneys’ fees), claims, liabilities, loss, and damages arising out of or relating to this Agreement or the establishment and
maintenance of the trust. 
 Section 16. Contribution. To the fullest extent permissible under applicable law, if the
indemnification provided for in this Agreement is unavailable to Executive for any reason whatsoever, then the Corporation, in lieu of indemnifying Executive, shall contribute to the Losses incurred by Executive in connection with any claim relating
to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the 

  
 15 

 
circumstances of such Proceeding in order to reflect (a) the relative benefits received by the Covered Entities (and their directors, officers, employees and agents other than Executive), on
one hand, and Executive, on the other hand, as a result of the events or transactions giving cause to such Proceeding, or (b) if the allocation described in clause (a) above is not permitted by applicable law, the relative fault of the
Covered Entities (and their directors, officers, employees and agents other than Executive), on one hand, and Executive, on the other hand, in connection with such events or transactions. The relative fault of the Covered Entities (and their
directors, officers, employees and agents other than Executive), on one hand, and Executive, on the other hand, in connection with the events or transactions giving cause to such Proceeding shall be determined by reference to, among other things,
the degree to which their actions were motivated by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary, and the degree to which their conduct is active or passive. The relative benefits received
by the Covered Entities (and their directors, officers, employees and agents other than Executive), on one hand, and Executive, on the other hand, in connection with the events or transactions giving cause to such Proceeding shall be limited to
direct and indirect financial benefits actually derived by the applicable person, his designees or his intended beneficiaries from the action or inaction in connection with the events or transactions giving cause to such Proceeding, and shall not
include any non-financial benefits or any benefits that were not actually received by the applicable person, his designees or his intended beneficiaries. 

Section 17. Retroactive Effect; Binding Agreement. 

(a) All agreements and obligations of the Corporation contained herein shall commence upon the date that Executive first became an officer or
director of the Corporation, shall continue during the period of Executive’s Corporate Status and shall continue thereafter so long as Executive shall be subject to any possible Proceeding by reason of Executive’s Corporate Status. In this
regard, the provisions contained herein are intended to be retroactive and the full benefits hereof shall be available in respect of any alleged or actual occurrences, acts or failures to act that occurred prior to the date hereof. 

(b) This Agreement shall be binding upon the Corporation and its successors and assigns. The Corporation shall require any successor (whether
direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Corporation, by agreement in form and substance reasonably satisfactory to Executive, expressly to assume and agree to
perform this Agreement in the same manner and to the same extent that the Corporation would be required to perform if no such succession had taken place. To the extent that the Corporation maintains one or more insurance policies providing liability
insurance for the directors and officers of the Corporation, upon any Change of Control, the Corporation shall use commercially reasonable efforts to obtain or arrange for continuation or “tail” coverage for Executive to the maximum extent
obtainable at such time; provided, however, that in no event shall the Corporation be required to expend an amount in excess of 300% of the annual amount paid by the Corporation at the time of such Change of Control for such insurance. 

(c) This Agreement shall inure to the benefit of and be enforceable by Executive’s personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees and legatees. Without limiting the generality of the preceding sentence, if Executive should die while any amounts would still be payable to him hereunder if he had continued to live, all
such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to Executive’s devisee, legatee, or other designee, or if there be no such designee, to his estate. 

  
 16 

 Section 18. Severability; Invalidity. Nothing in this Agreement is intended to
require or shall be construed as requiring the Corporation to do or fail to do any act in violation of applicable law. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever
(i) the validity, legality and enforceability of the remaining provisions of this Agreement (including each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself
invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law, (ii) such provision or provisions shall be deemed reformed to the extent necessary to
conform to applicable law and to give the maximum effect to the intent of the parties hereto, and (iii) to the fullest extent possible, the provisions of this Agreement (including each portion of any Section of this Agreement containing any
such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby. 

Section 19. Entire Agreement. 

(a) The Corporation expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in
order to induce Executive to serve or continue to serve as an executive officer or director of the Corporation, and the Corporation acknowledges that Executive is relying upon this Agreement in serving or continuing to serve as an executive officer
or director of the Corporation and having Corporate Status with respect to any Covered Entity. 
 (b) This Agreement constitutes the entire
agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided,
however, that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation of the Corporation, the By-laws of the Corporation, any directors’ and officers’ insurance
maintained by the Corporation and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Executive thereunder. 

Section 20. Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed
in writing by the parties hereto. No amendment, alteration or repeal of this Agreement shall adversely affect any right of Executive under this Agreement in respect of any action taken or omitted by such Executive in his or her Corporate Status
prior to such amendment, alteration or repeal. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver. 

  
 17 

 Section 21. Notice by Executive. Executive agrees promptly to notify the
Corporation in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered
hereunder. The failure of Executive to so notify the Corporation shall not relieve the Corporation of any obligation which it may have to Executive under this Agreement or otherwise. 

Section 22. Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be
deemed to have been duly given if (a) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, (b) mailed by certified or registered mail with postage prepaid, on the third
business day after the date on which it is so mailed, (c) mailed by reputable overnight courier and receipted for by the party to whom said notice or other communication shall have been directed, (d) sent by facsimile transmission, with
receipt of oral confirmation that such transmission has been received or (e) sent via electronic mail, upon confirmation of delivery when directed to the relevant electronic mail address if sent during normal business hours of recipient, or if
not sent during normal business hours of the recipient, then on the recipient’s next business day: 
 (i) If to Executive, at the
address, fax number or electronic mail address indicated on the signature page of this Agreement, or such other address as Executive shall provide to the Corporation; and 

(ii) If to the Corporation, at the address, fax number or electronic mail address indicated on the signature page of this Agreement, or at such
other address or fax number as may have been furnished to Executive by the Corporation. 
 Section 23. Applicable Law and Consent to
Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of New York, without regard to its conflict of laws rules. Except with respect to
any arbitration commenced by Executive pursuant to Section 10(b), the Corporation and Executive hereby irrevocably and unconditionally (a) agree that any action or proceeding arising out of or in connection with this Agreement shall be
brought only in the Supreme Court of the State of New York (the “Designated Court”), and not in any other state or federal court in the United States of America or any court in any other country, (b) consent to submit to the
exclusive jurisdiction of the Designated Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (c) waive any objection to the laying of venue of any such action or proceeding in the Designated
Court, and (d) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Designated Court has been brought in an improper or inconvenient forum. 

Section 24. Identical Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all
purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Facsimile or other electronically-transmitted signatures shall be treated as originals and shall bind the signatories to the terms of this
Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement. 

  
 18 

 Section 25. Miscellaneous. Use of the masculine pronoun shall be deemed to
include usage of the feminine or neuter pronoun where appropriate. Use of the plural nouns shall be deemed to include usage of the singular form of such noun where appropriate. Whenever the words “include,” “includes” or
“including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” Unless otherwise indicated, references in this Agreement to any “Section” shall be deemed to refer to the
indicated Section of this Agreement. The headings set forth in this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof. 

[SIGNATURE PAGE FOLLOWS] 

  
 19 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day
and year first above written. 
  

			
	 COMPUTER TASK GROUP, INCORPORATED
  

	By:	 	  

	 Name:
 Title:

	
	Address:
	
	Fax Number:
	
	E-mail Address:

  

			
	EXECUTIVE	 	
	By:	 	  

	Name:	 	  

	Address:	 	  

		 	  

		 	  

	Fax Number:	 	  

	E-mail Address:Exhibit
10.1

 

SECURITIES
PURCHASE AGREEMENT

 

THIS
SECURITIES PURCHASE AGREEMENT (the “Agreement”) is made as of September 23, 2020, by and among Save Foods,
Inc., a Delaware corporation (the “Company”) and Medigus Ltd., a company organized under the laws of the state
of Israel (the “Investor”).

 

WHEREAS,
the Company desires to issue and sell to the Investor, and the Investor desire to purchase from the Company, upon the terms and
conditions stated in this Agreement, for an aggregate purchase price of up to US$100,000 (the “Purchase Price”),
in consideration for 91,743 units at a price of $1.09, each consists of (i) one share of common stock, par value $0.0001 of the
Company (the “Common Stock” and “Purchased Shares”, respectively); and (ii) one warrant
to purchase one share of Common Stock with an exercise price of $1.20, in the form attached hereto as Exhibit A (collectively
the “Warrant”, and together with the Purchased Shares, the “Initial Purchased Securities”),
all under and subject to the terms and conditions set forth in the Warrant; and

 

WHEREAS,
the Investor and the Company agree that the Investor shall invest up to additional US$25,000 in excess of the Purchase Price (the
“POC Investment Amount”), which will be conditioned upon the mutual agreement of the Company and the Investor
to jointly perform a proof of concept procedure to test the effectiveness of the Company’s sanitizers and its residual effects
against different pathogens including a COVID-19 virus’ surrogate, based on agreed terms of study, its scope and cost (the
“POC Condition”), with such POC Investment Amount to be allocated specifically to such purpose, in consideration
for up to 22,935 units at a price of $1.09, each consisting of (i) one share of Common Stock (the “Additional Purchased
Shares”); and (ii) one Warrant, all under and subject to the terms and conditions set forth in the Warrant (together
with the Additional Purchased Shares, the “Additional Purchased Securities”) (the Initial Purchased Securities
together with the Additional Purchased Securities, the “Purchased Securities”).

 

NOW,
THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS:

 

1.
PURCHASE AND SALE OF SECURITIES.

 

1.1
Sale and Issuance of Securities. Subject to the satisfaction of certain closing conditions set forth in Sections 4 and
5 hereof at the Closing (as defined below), the Company shall issue and sell to the Investor, and the Investor shall purchase
from the Company the Initial Purchased Securities and subject to the satisfaction of the POC Condition, the Investor shall purchase
from the Company the Additional Purchased Securities.

 

The
capitalization table of the Company, reflecting the issued and outstanding share capital of the Company on a Fully Diluted Basis,
immediately prior to Closing and immediately following the Closing, assuming the investment of the Purchase Price) and reflecting
the issuance of the Purchased Securities is attached hereto as Exhibit B (the “Capitalization Table”).

 

1.2
Closing. The consummation of the transactions contemplated hereby, including the purchase and sale of the Purchased Securities
(the “Closing”) shall take place remotely via the exchange of documents and signatures, on September 23, 2020,
or at such other time and place as the Company and the Investor mutually agree upon (such designated time and place, the “Closing
Date”). The Closing shall be subject to the conditions of Section 4 and 5 below, which conditions shall be deemed to
take place simultaneously and no transaction described in such sections shall be deemed to have been completed or any document
delivered until all such transactions have been completed and all such required documents delivered.

 

1.3
Closing Deliverables.

 

At
the Closing, the Company shall deliver to the Investor:

 

(i)
True and correct copies of written resolutions, or minutes of a meeting, of the board of directors of the Company, approving and
adopting in all respects the execution, delivery and performance by the Company of this Agreement and the transactions contemplated
hereby, including, among others, (i) authorizing the issuance and sale of the Purchased Securities against payment of the Purchase
Price therefor and the grant of the Warrant and the issuance of the stock underlying such Warrant, as applicable, upon the exercise
of such Warrant; (ii) reserving a sufficient number of shares of Common Stock to be issued upon the exercise of the Warrant issuable
under this Agreement;

 

    	 

     

    

 

(ii)
Book-entry confirmation representing respective Purchased Shares issued to the Investor at the Closing in the name of the Investor.

 

(iii)
The Warrant, duly executed by the Company issued to the Investor at the Closing in the name of such Investor, all under and subject
to the terms and conditions set forth in the Warrant, in the form attached hereto as Exhibit A; and

 

(iv)
A certificate duly executed by an executive officer of the Company as of the Closing stating that the conditions specified in
Section 4 have been satisfied, in the form attached hereto as Schedule ‎1.3(iii).

 

1.4
Purchase Price. Upon the Closing, the Investor shall transfer to the Company the Purchase Price by wire transfer of immediately
available funds according to the wire instructions attached hereto as Schedule 1.4.

 

1.5
Additional Closing. Within three (3) days following the satisfaction of the POC Condition, the Company shall sell and issue,
on the same terms and conditions as those contained in this Agreement, at an additional closing (the “Additional Closing”)
the Additional Purchased Securities. Upon the Additional Closing, this Agreement shall automatically be deemed to be updated to
reflect the POC Investment Amount and the number of Additional Units purchased by the Investor at the Additional Closing. Thereafter,
for all purposes under this Agreement, the “Additional Purchased Securities” shall be deemed to be “Purchased
Securities” and the POC Investment Amount for the Additional Purchased Securities shall be deemed to be part of the “Purchase
Price”. At the Additional Closing, following the Company’s receipt of the Investor’s wire transfer of the POC
Investment Amount, the Company shall deliver to Investor a book-entry confirmation representing respective Additional Purchased
Shares issued to the Investor at the Additional Closing in the name of the Investor.

 

2.
REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

 

The
Company hereby represents and warrants to the Investor that, the following representations are true, correct and complete as of
the date hereof and as of the Closing (as if made on the Closing Date); except, in each case, as to such representations and warranties
that address matters as of a particular date, which are true, correct and complete only as of such date.

 

In
this Agreement, “Material Adverse Effect” means a material and adverse effect on the assets, properties, conditions
(financial or otherwise), operating results or business of the Company.

 

2.1
Subsidiary. The Company wholly-owns Save Foods Ltd., an Israeli company (the “Subsidiary”), and as of
the date of the Agreement, the Subsidiary is the only subsidiary of the Company. The Company owns directly all of the capital
stock or other equity interests of the Subsidiary free and clear of any lien, charge, pledge, security interest, encumbrance,
right of first refusal, preemptive right or other restriction, and all of the issued and outstanding share capital of the Subsidiary
is validly issued and are fully paid, non-assessable and free of preemptive and similar rights to subscribe for or purchase securities.

 

2.2
Organization. With the exception of the Subsidiary’s current “breaching status” with the Israeli Registrar
of Companies, the Company and the Subsidiary are each an entity duly incorporated or otherwise organized, validly existing and
in good standing (if applicable in such jurisdiction) under the laws of the jurisdiction of its incorporation or organization,
with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted.
Neither the Company nor the Subsidiary is in violation nor default of any of the provisions of its respective certificate of incorporation,
bylaws or other organizational or charter documents. Each of the Company and the Subsidiary is duly qualified to conduct business
and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted
or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as
the case may be, could not have or reasonably be expected to result in: (i) a Material Adverse Effect on the legality, validity
or enforceability of any Transaction Document, (ii) a Material Adverse Effect on the results of operations, assets, business,
prospects or condition (financial or otherwise) of the Company and the Subsidiary, taken as a whole, or (iii) a Material Adverse
Effect on the Company’s ability to perform in any material respect on a timely basis its obligations under any Transaction
Document and no Proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke,
limit or curtail such power and authority or qualification.

 

    	 

     

    

 

2.3
Capitalization.

 

(a)
The authorized share capital of the Company will be on or immediately following to the Closing, as set forth in the Company’s
Certificate of Incorporation (the “COI”), and such number of Common Stock as set forth in the Capitalization
Table are or shall be (immediately following the Closing) issued and outstanding, which shall reflect as of the date hereof, he
number of shares of Common Stock issued to Investor pursuant to the Agreement.

 

(b)
The issued and outstanding shares of the Company were duly and validly authorized and issued, fully paid and non-assessable, and
offered and issued in compliance with the provisions of the COI as in effect at the time of each such issuance and in compliance
with all applicable corporate and securities laws.

 

(c)
Immediately prior to the Closing, no shares, options, warrants, rights (including conversion, preemptive rights, rights of first
refusal or similar rights) or agreements for the purchase from the Company of any of its stock capital, or any securities convertible
into or exchangeable for stock of the Company shall be outstanding.

 

(d)
Immediately prior to the Closing, no option, security or other equity award convertible or exercisable into stock of the Company
shall contain a provision for acceleration of vesting (or lapse of a repurchase right) or other changes in the vesting provisions
or other terms of such option.

 

(e)
The Company has not declared or paid any dividends, or authorized or made any distribution upon or with respect to any class or
series of its stock capital.

 

2.4
Authorization. All corporate action on the part of the Company, its directors and shareholders, necessary for the authorization,
execution and delivery of this Agreement and the other agreements, instruments or documents entered into in connection with this
Agreement and to which the Company is a party (collectively, the “Transaction Documents”) and for the performance
of all obligations of the Company under the Transaction Documents in accordance with their terms has been taken or will be taken
prior to the Closing and the Additional Closing, as applicable. The Transaction Documents, when executed and delivered by the
Company, and assuming the due authorization, execution and delivery by the other parties hereto and thereto, constitute valid
and binding obligations of the Company, enforceable against the Company in accordance with their respective terms, except (i)
as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application
relating to or affecting the enforcement of creditors’ rights generally, and (ii) as limited by laws relating to the availability
of specific performance, injunctive relief, or other equitable remedies.

 

2.5
Valid Issuance. The Purchased Securities being or that may be issued to the Investor hereunder, when issued, sold and delivered
in accordance with the terms of this Agreement for the consideration expressed herein, shall be duly and validly issued, fully
paid, and non-assessable, issued in compliance with all applicable state securities laws, and free and clear of liens, pledges,
charges, encumbrances or other restrictions on transfer of any kind (including, without limitation, preemptive rights), other
than restrictions on transfer under this Agreement, the COI, the Company’s currently effective Bylaws (the “Bylaws”)
and under applicable securities laws and other than liens or encumbrances created by or imposed on the Investor as to itself.
The rights, privileges and preferences of the Purchased Securities are as stated in the COI and Bylaws, as may be amended from
time to time in accordance with its terms.

 

    	 

     

    

 

2.6
No Conflict; Consents. The execution, delivery and performance by the Company of this Agreement and the other Transaction
Documents to which it is a party, the issuance and sale of the Purchased Securities and the consummation by it of the transactions
contemplated hereby and thereby do not and will not: (i) conflict with or violate any provision of the COI or Bylaws or other
organizational or charter documents, (ii) conflict with, or constitute a default (or an event that with notice or lapse of time
or both would become a default) under, result in the creation of any lien, charge, pledge, security interest, encumbrance, right
of first refusal, preemptive right or other restriction, upon any of the properties or assets of the Company, or give to others
any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement,
credit facility, debt or other instrument (evidencing a Company debt or otherwise) or other understanding to which the Company
is a party or by which any property or asset of the Company is bound or affected, or (iii) subject to the Required Approvals,
conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction
of any court or governmental authority to which the Company is subject (including federal and state securities laws and regulations),
or by which any property or asset of the Company is bound or affected; except in the case of each of clauses (ii) and (iii), such
as could not have or reasonably be expected to result in a Material Adverse Effect.

 

2.7
SEC Reports; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents
required to be filed by the Company under the Securities Act and the Securities Exchange Act of 1934, as amended (the “Exchange
Act”) since the Company’s registration statement on Form 10 was determined effective (collectively, the “SEC
Reports”) on a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports
prior to the expiration of any such extension. As of their respective dates, the SEC Reports complied in all material respects
with the requirements of the Securities Act and the Exchange Act, as applicable, and none of the SEC Reports, when filed, contained
any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order
to make the statements therein, in the light of the circumstances under which they were made, not misleading. The financial statements
of the Company included in the SEC Reports (the “Financial Statements”) comply in all material respects with
applicable accounting requirements and the rules and regulations of the U.S. Securities and Exchange Commission (the “Commission”)
with respect thereto as in effect at the time of filing. Such financial statements have been prepared in accordance with Generally
Accepted Accounting Principles in the U.S. (“US GAAP”), except as may be otherwise specified in such financial
statements or the notes thereto and except that unaudited financial statements may not contain all footnotes required by US GAAP,
and fairly present in all material respects the financial position of the Company as of and for the dates thereof and the results
of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial,
year-end audit adjustments.

 

2.8
Material Changes. Since June 30, 2020, there has been no event, occurrence or development that has had or that would reasonably
be expected to result in a Material Adverse Effect.

 

2.9
Continued Quotation. The Company is, and has no reason to believe that it will not in the foreseeable future continue to
be, in compliance with all such quotation and maintenance requirements of the “Pink Sheets” published and maintained
by OTC Markets Group, Inc., and shall make commercial best efforts to maintain such compliance.

 

2.10
Financial Statements; No Undisclosed Liabilities.

 

(a)
Except as set forth in the Financial Statements, the Company has no liabilities or obligations, contingent or otherwise, other
than (i) liabilities incurred in the ordinary course of business, subsequent to June 30, 2020, which, individually and in the
aggregate, do not exceed US$100,000; (ii) obligations under contracts and commitments incurred in the ordinary course of business
including debt of the Subsidiary to the Company in the principal amount of US$100,000; (iii) liabilities and obligations of a
type or nature not required under GAAP to be reflected in the Financial Statements, which, individually and in the aggregate do
not exceed US$100,000;

 

(b)
The Company is not a guarantor or indemnitor of any debt or obligation of another, nor has the Company given any loan, security
or otherwise agreed to become liable for any obligation of any person. No person has given any guarantee of, or security for,
any obligation of the Company. The Company did not extend any loans or advances to any person, other than advances for expenses
to its employees in the ordinary course of business.

 

    	 

     

    

 

2.11
Assets and Properties. Both the Company and the Subsidiary have good and marketable title to all of the tangible or personal
properties and assets owned by the Company and the Subsidiary, which are material to the business of the Company or the Subsidiary
as currently conducted, and such properties and assets are free and clear of all mortgages, deeds of trust, liens, pledges, charges,
security interests, conditional sale agreement, loans and encumbrances, except for statutory liens for the payment of current
taxes that are not yet delinquent and encumbrances and liens that arise in the ordinary course of business and do not materially
impair the Company’s or the Subsidiary’s ownership or use of such property or assets. With respect to the tangible
property and assets it leases, the Company and the Subsidiary are in compliance in all material respects with such leases and,
to its knowledge, holds a valid leasehold or license interest free of any liens, pledges, charges, security interest, claims or
encumbrances, other than those of the lessors of such property or assets. The Company and the Subsidiary do not own any real property.

 

2.12
Intellectual Property. The Company and the Subsidiary have, or have rights to use, all patents, patent applications, trademarks,
trademark applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property
rights and similar rights for use in connection with their respective businesses and which the failure to so have could have a
Material Adverse Effect (collectively, the “Intellectual Property Rights”). Neither the Company nor the Subsidiary
have received a notice (written or otherwise) that any of, the material Intellectual Property Rights has expired, terminated or
been abandoned, or is expected to expire or terminate or be abandoned, within two (2) years from the date of this Agreement. Neither
the Company nor the Subsidiary have received, since January 1, 2019, a written notice of a claim or otherwise has any knowledge
that the Intellectual Property Rights violate or infringe (and will not infringe) upon the rights of any Person, except as could
not have or reasonably be expected to not have a Material Adverse Effect. To the knowledge of the Company, all such Intellectual
Property Rights are enforceable and there is no existing infringement by another Person of any of the Intellectual Property Rights.
The Company and the Subsidiary have taken reasonable security measures to protect the secrecy, confidentiality and value of all
of their intellectual properties, except where failure to do so could not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect. The Company has no knowledge of any facts that would preclude it or the Subsidiary from having
valid license rights or clear title to the Intellectual Property Rights. The Company has no knowledge that either it or the Subsidiary
lacks or will be unable to obtain any rights or licenses to use all Intellectual Property Rights that are necessary to conduct
its business. For purposes of this Section, “knowledge”, including the phrase “to the Company’s knowledge”
(or similar phrases), when used in this Section 2.11 (Intellectual Property) shall mean the actual knowledge of the Company,
without conducting any patent search, freedom to operate, infringement, or any similar search.

 

2.13
Labor Matters.

 

(a)
The Company and the Subsidiary have complied, in all material respects, with all applicable employment laws, policies, procedures
and agreements relating to employment, and terms and conditions of employment. The Company and the Subsidiary have paid in full
to all of its respective employees and consultants all wages, salaries, commissions, bonuses, benefits and other compensation
due and payable to such employees or consultants on or prior to the date of this Agreement. The Company and the Subsidiary have
complied in all material respects with the applicable laws relating to the proper withholding and remittance to the proper tax
and other authorities of all sums required to be withheld from employees or persons deemed to be employees under applicable laws.
To the Company’s knowledge, all persons classified by the Company or the Subsidiary as consultants or contractors thereof
are correctly classified as such and not as employees for any purpose. The Company’s and the Subsidiary’s liability
for any obligations to pay any amount of severance payment, pension, accrued vacation, and other social benefits and contributions,
under applicable law or contract, or any other payment of substantially the same nature, is fully funded by deposit of funds in
severance funds, pension funds, managers insurance policies or provident funds (and if not required to be so funded) adequate
provisions have been made in the Company’s Financial Statements.

 

    	 

     

    

 

(b)
Neither the Company nor the Subsidiary is a party to, bound by or subject to, and no employee of the Company or the Subsidiary
benefits from, any collective bargaining agreement, collective labor agreement, extension orders (tzavei harchava) (other
than extension orders that apply to all employees in Israel generally), or other contract or arrangement with a labor union, trade
union or other organization or body, to provide benefits or working conditions beyond the minimum benefits and working conditions
required by applicable law. No labor union has requested or has sought to represent any of the employees, representatives or agents
of the Company or the Subsidiary, nor is the Company or the Subsidiary aware of any labor organization activity involving its
employees. There is no strike or other labor dispute involving the Company or the Subsidiary pending or, to the Company’s
knowledge, threatened.

 

2.14
Taxes. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in
a Material Adverse Effect, the Company and the Subsidiary each (i) has made or filed all United States federal, state and local
income and all foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which it is
subject, (ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined
to be due on such returns, reports and declarations and (iii) has set aside on its books provision reasonably adequate for the
payment of all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply. Except
as disclosed in SEC Reports, there are no unpaid taxes in any material amount claimed to be due by the taxing authority of any
jurisdiction, and neither the officers of the Company nor the Subsidiary know of no basis for any such claim.

 

2.15
Governmental Grants. Neither the Company nor the Subsidiary have applied, obtained or received any grant, loan, incentives,
benefits (including tax benefits), subsidies or other assistance from any governmental or regulatory authority or any agency,
or any international or bilateral fund, institute or organization or public entities or authorities.

 

2.16
Litigation. There is no claim, action, suit, proceeding, arbitration, complaint, charge or, to the Company’s knowledge,
investigation pending, or, to the Company’s knowledge, currently threatened in writing against the Company or the Subsidiary,
any of its properties, or any officer, director or employee of the Company or the Subsidiary, including, without limitation, arising
out of their employment or board relationship with the Company or the Subsidiary or in their capacity as such, or that questions
the validity of the Transaction Documents or the right of the Company to enter into them, or to consummate the transactions contemplated
by the Transaction Documents.

 

2.17
Insurance. The Company and the Subsidiary are covered by insurance with respect to its properties and business.

 

2.18
Compliance. Neither the Company nor the Subsidiary (i) is in default under or in violation of (and no event has occurred
that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or the Subsidiary
under), nor has the Company or the Subsidiary received written notice of a claim that it is in default under, any indenture, loan
or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound
(whether or not such default or violation has been waived), (ii) is in violation of any order of any court, arbitrator or governmental
body, or (iii) is in violation of any law, rule or regulation of any governmental authority, except in each case as would not
have a Material Adverse Effect.

 

2.19
Permits. The Company and the Subsidiary possess all licenses, certificates, permits and other authorizations issued by
all applicable authorities necessary to conduct their respective businesses, and neither the Company nor the Subsidiary has received
any notice of proceedings relating to the revocation or modification of any such certificate, authorization or permit which, singly
or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would have a Material Adverse Effect.

 

2.20
Certain Fees. No brokerage or finder’s fees or commissions are or will be payable by the Company or the Subsidiary
to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect
to the transactions contemplated by this Agreement.

 

2.21
Disclosure. No representation or warranty of the Company contained in this Agreement, and no certificate furnished or to
be furnished to Investor at the Closing or the Deferred Closing contains any untrue statement of a material fact or, to the Company’s
knowledge, omits to state a material fact necessary in order to make the statements contained herein or therein not misleading
in light of the circumstances under which they were made.

 

    	 

     

    

 

3.
REPRESENTATIONS AND WARRANTIES OF THE INVESTOR.

 

The
Investor hereby represents and warrants, with respect to itself only, that the following representations are true, correct and
complete as of the date hereof and as of the Closing (as if made on the Closing Date); except, in each case, as to such representations
and warranties that address matters as of a particular date, which are given only as of such date:

 

3.1
Authorization; Organization. The Investor is duly organized, validly existing and, if applicable, in good standing under
the laws of the jurisdiction in which it has been incorporated and has full power and authority to enter into the Transaction
Documents. The Transaction Documents to which the Investor is a party, when executed and delivered by the Investor, and assuming
the due authorization, execution and delivery by the other parties hereto and thereto, constitute valid and binding obligations
of the Investor, enforceable against the Investor in accordance with their respective terms, except (i) as limited by applicable
bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to or
affecting the enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific
performance, injunctive relief, or other equitable remedies, and (iii) to the extent the indemnification provisions contained
herein, as may be limited by applicable securities laws.

 

3.2
No Conflict; Consents. The execution, delivery and performance by the Investor of the Transaction Documents to which it
is a party and the consummation of the transactions contemplated by such Transaction Documents do not and will not (a) result
in any conflict with, or a breach or violation, with or without the passage of time and giving of notice, of any of the terms,
conditions or provisions of, or give rise to rights to others (including rights of termination, cancellation or acceleration)
under: (i) the governing documents of the Investor; (ii) any judgment, injunction, order, writ, decree or ruling of any court
or governmental authority, domestic or foreign, to which the Investor is subject; (iii) any material contract or agreement, lease,
license or commitment to which the Investor is a party or by which it is bound; (iv) any applicable law; or (b) require the consent,
approval or authorization of, registration, qualification or filing with, or notice to any person or any federal, state, local
or foreign governmental authority or regulatory authority or agency, on the part of the Investor, which has not heretofore been
obtained or made or will be obtained or made prior to Closing or the Deferred Closing, as applicable.

 

3.3
Purchase Entirely for Own Account. The Purchased Securities will be acquired for investment for the Investor’s own
account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and the Investor has
no present intention of selling, granting any participation in, or otherwise distributing the same. The Investor does not presently
have any contract, undertaking, agreement or arrangement to sell, transfer or grant participation rights to any person with respect
to any of the Purchased Securities. The Investor has not been formed for the specific purpose of acquiring the Purchased Securities.

 

3.4
Disclosure of Information. The Investor has had an opportunity to discuss the Company’s business, operations, properties,
prospects, technology, plans, management, financial affairs and the terms and conditions of the offering of the Purchased Securities
with the Company’s management and has had an opportunity to review the Company’s facilities. The foregoing, however,
does not limit, modify or qualify the representations and warranties of the Company in Section ‎2 of this Agreement or the
right of the Investor to rely thereon. The Investor acknowledges that any projections provided (if any) by the Company are uncertain
in nature, and that some or all of the assumptions underlying such projections may not materialize or will vary significantly
from actual results.

 

3.5
Investment Experience; Accredited Investor; Non-U.S. Person. The Investor acknowledges that it is able to fend for itself,
can bear the economic risk of its investment, and has such knowledge and experience in financial or business matters that it is
capable of evaluating and understanding the merits and risks of the investment in the Purchased Securities. The Investor is either
(i) an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended
(the “Securities Act”), or (ii) a Non U.S. Person as defined under Regulation S promulgated under the Securities
Act. To the extent that the Investor is a non U.S. Person, such Investor (x) is not acquiring Purchased Securities for the account
or benefit of any U.S. Person, (y) is not, at the time of execution of this Agreement, and will not be, at the time of the Closing
or Additional Closing, in the United States and (z) is not a “distributor” (as defined in Regulation S promulgated
under the Securities Act).

 

    	 

     

    

 

3.6
Restricted Securities. The Purchased Securities have not been and will not be registered under the Securities Act or any
state securities laws and, therefore, cannot be resold unless they are registered under the Securities Act and applicable state
securities laws or unless an exemption from such registration requirements is available. Investor is aware that, except as set
forth herein, the Company is under no obligation to effect any such registration or to file for or comply with any exemption from
registration. The sale and issuance of the Purchased Securities have not been registered under the Securities Act by reason of
a specific exemption from registration which depends upon, among other things, the accuracy of the Investor’s representations
as expressed herein.

 

3.7
Legends. The Purchased Securities, and (if applicable) any securities issued in respect of or exchange for the foregoing
may be notated with the following or a similar legend as well as other legends as may be required by applicable securities laws:
“THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT
AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO TRANSFER OF SUCH SHARES MAY BE EFFECTED WITHOUT
AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION
IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.”

 

4.
CONDITIONS OF INVESTOR’S OBLIGATIONS AT CLOSING.

 

The
obligations of the Investor to purchase the Purchased Securities at the Closing are subject to the fulfillment on or before the
Closing of each of the following conditions, unless otherwise waived in writing by the Investor:

 

4.1
Representations and Warranties. The representations and warranties of the Company in Section 2 of this Agreement shall
have been true in all respects on and as if made as of the Closing.

 

4.2
Performance. The Company shall have performed and complied, in all respects, with all agreements, obligations and conditions
contained in this Agreement that are required to be performed or complied with by it on or before the Closing.

 

4.3
Delivery of Documents. All of the documents to be delivered by the Company pursuant to Section 1.3, shall have been in
a form as attached to this Agreement, or, if not attached, in a form and substance satisfactory to the Investor and shall have
been delivered to the Investor.

 

4.4
Additional Investment. The Company consummated additional equity investment(s) for the Company’s Common Stock, in
the aggregate amount of no less than US$200,000, not counting the Purchase Price.

 

5.
CONDITIONS OF THE COMPANY’S OBLIGATIONS AT CLOSING.

 

The
obligations of the Company to the Investor under this Agreement are subject to the fulfillment on or before the Closing, of each
of the following conditions, unless otherwise waived in writing by the Company:

 

5.1
Representations and Warranties. The representations and warranties contained in Section ‎3 shall have been true in
all respects on and as if made as of the Closing.

 

5.2
Performance. The Investor shall have performed and complied, in all respects, with all agreements, obligations and conditions
contained in this Agreement that are required to be performed or complied with by it on or before the Closing.

 

6.
AFFIRMATIVE COVENANTS BY THE COMPANY.

 

6.1
Use of Proceeds. The Company will use the Purchase Price for general working capital purposes. Notwithstanding the foregoing,
the POC Investment Amount shall be allocated specifically to conducting a proof of concept procedure to test the effectiveness
of the Company’s sanitizers and its residual effects against different pathogens including a COVID-19 virus’ surrogate.

 

    	 

     

    

 

6.2
Conduct of the Business between Signing and Closing. Except as otherwise expressly provided by this Agreement or with the
prior written consent of each of the Investor individually (which consent shall not be unreasonably withheld or delayed), the
Company shall (i) conduct its business in the ordinary course of business, consistent with prior practice; (ii) comply with legal
requirements applicable to the operation of its business and pay applicable taxes as due; (iii) maintain its books, accounts and
records in the ordinary course of business; and (iv) not take any other action that would result in a breach of any of the representations,
warranties or covenants made by the Company in this Agreement or that would adversely affect its ability to consummate the transactions
contemplated by this Agreement.

 

7.
INDEMNIFICATION.

 

7.1
Effectiveness; Survival.

 

(a)
The Investor has the right to fully rely upon all representations, warranties and covenants of the Company, for which the Company
shall be held responsible (the “Indemnitor”) contained in or made pursuant to this Agreement and in the schedules
attached hereto. Unless otherwise set forth in this Agreement, the representations and warranties of the Company contained in
or made pursuant to this Agreement shall in no way be affected by any investigation or knowledge of the subject matter thereof
made by or on behalf of the Investor.

 

(b)
The representations and warranties of the Company contained in or made pursuant to this Agreement shall survive the execution
and delivery of this Agreement and the Closing, until (1) in case of Section 2.11 (Intellectual Property), until the 30th
months anniversary of the Closing Date; (2) in case of Sections 2.2 (Organization), 2.4 (Authorization) and
2.6 (No Conflict; Consents), until the expiration of the applicable statute of limitation period; and (3) other than as
set forth in clause (1) above, the 24th months anniversary of the Closing Date; in each case, with respect to any theretofore
un-asserted claims as set forth in clause (d) below;

 

(c)
In respect to Section 7.1(b) above, no limitation shall apply to breach of any representation or warranty which constitutes fraud
or willful misrepresentation by the Company (“Fraud”). The applicable survival period shall be referred to,
as applicable, as the “Claims Period”.

 

(d)
Except for Fraud, the Company shall have any liability with respect to any breach of representation and warranty, unless a claim
is made hereunder prior to the expiration of the Claims Period for such representation and warranty, in which case such representation
and warranty shall survive as to that claim until the claim has been finally resolved.

 

(e)
It is the intention of the parties hereto that the Claims Periods supersede any statute of limitations applicable to the representations
and warranties, and this Section ‎7.1 constitutes a separate written legally binding agreement among the parties hereto
in accordance with the provisions of Section 19 of the Israeli Limitation Law, 1958.

 

7.2
Indemnification.

 

(a)
Indemnifiable Losses. The Indemnitor shall indemnify the Investor (including its shareholders, limited and general partners
directors and officers) (each, an “Indemnitee”) against, and hold each Indemnitee harmless from all claims,
actions, suits, settlements, damages, expenses (including, reasonable legal costs and expenses), losses, or costs sustained or
incurred by such Indemnitees (collectively, “Losses”) resulting from, or arising out of, a breach or misrepresentations
of any the Indemnitor’s representations, warranties or covenants made in this Agreement, subject to the limitations in this
Section ‎7.

 

(b)
Limitations. The Indemnitee’s right for indemnification hereunder is subject to the following conditions and limitations,
notwithstanding anything to the contrary in this Agreement, but in to any other limitation or condition contained herein; provided,
however, no limitation shall apply to Fraud:

 

(i)
No Indemnitor shall be liable for any Loss, unless and until the aggregate of Losses equal or exceeds US$50,000, in which case
indemnification shall be made from the first dollar amount.

 

(ii)
The Indemnitor’s liability shall be limited to the Purchase Price and each Indemnitee shall be entitled to receive a pro
rata share of the indemnifiable Loss, based the Purchase Price.

 

    	 

     

    

 

(c)
Claims Notice; Third Party Claims. In the event that an Indemnitee wishes to assert a claim for indemnification hereunder
it shall give the Indemnitor a prompt written notice thereof (a “Claims Notice”), which shall describe in reasonable
detail the facts and circumstances upon which the asserted claim for indemnification is based and thereafter keep the Indemnitor
informed, in all material respects, with respect thereto. In the event that such Claims Notice results from a third party claim
against the Indemnitee, such Indemnitee shall promptly upon becoming aware of the commencement of proceedings by such third party
provide the Indemnitor with the Claims Notice and the Indemnitor shall have the right to assume the defense thereof (at Indemnitor’s
expense) with counsel mutually satisfactory to the parties; provided, however, that the Indemnitees shall have the right
to retain their own counsel, at the reasonable expense of the Indemnitor, and within the indemnification limitations herein, if
representation of all parties by the counsel retained by the Indemnitor would be inappropriate due to actual or potential differing
interests between the parties in such proceeding. Failure of the Indemnitees to give prompt notice or to keep it informed, as
provided herein, shall not relieve the Indemnitor of any of its obligations hereunder, except to the extent that the Indemnitor
is actually and materially prejudiced by such failure. The Indemnitor shall not be liable nor shall it be required to indemnify
or hold harmless the Indemnitee in connection with any settlement effected without its consent in writing, which shall not be
unreasonably withheld or delayed.

 

(d)
Sole Remedy. The indemnification provided by the Indemnitor hereunder and the enforcement of such indemnification shall
be the exclusive remedy available to the Indemnitees under this Agreement, other than for Fraud; provided that this provision
does not limit the right to seek specific performance, a restraining order or injunctive relief with respect to any provision
of this Agreement.

 

8.
MISCELLANEOUS.

 

8.1
Further Assurances. Each of the parties hereto shall perform such further acts and execute such further documents as may
reasonably be necessary to carry out and give full effect to the provisions of this Agreement and the intentions of the parties
as reflected thereby.

 

8.2
Entire Agreement. This Agreement (including the exhibits and schedules hereto) and the other Transaction Documents constitute
the full and entire understanding and agreement between the parties with respect to the subject matter hereof, and supersede all
prior agreements and understandings, both written and oral, among any of the parties hereto, with respect to the subject matter
hereof (with no concession being made as to the existence of any such prior agreements or understandings).

 

8.3
Amendment; Waiver. Except as explicitly set forth herein, any term of this Agreement may be amended only with the written
consent of both the Company and the Investor. The observance of any term hereof may be waived (either prospectively or retroactively
and either generally or in a particular instance) only by the prior written consent of the party against which enforcement of
such waiver shall be sought. Any amendment or waiver effected in accordance with this Section ‎8.3 shall be binding upon the
Investor and each transferee of the Purchased Securities, each future holder of all such securities and the Company.

 

8.4
Assignment; Successors and Assigns. None of the rights, privileges or obligations set forth in, arising under, or created
by this Agreement may be assigned or transferred by an Investor, without the prior written consent of the Company. Nothing in
this Agreement, express or implied, is intended to confer upon any party other than the parties hereto any rights, remedies, obligations,
or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

8.5
Governing Law; Jurisdiction. This Agreement shall be governed by and construed in accordance with to the laws of the State
of Israel, disregarding its conflict of laws rules. Any dispute arising under or in relation to this Agreement shall be resolved
exclusively in the competent court located in Tel Aviv-Jaffa, Israel and each of the parties hereby irrevocably submits to the
exclusive jurisdiction of such court. Each of the parties hereto (i) consents to submit itself to the exclusive jurisdiction of
the abovementioned courts in the event any dispute arises out of this Agreement or the transactions contemplated by this Agreement,
(ii) agrees that it shall not attempt to deny or defeat such jurisdiction by motion or other request for leave from the abovementioned
court, (iii) agrees that it shall not bring any action relating to this Agreement or the transactions contemplated by this Agreement
in any court other than the abovementioned court, and (iv) irrevocably consents to service of process in the manner provided by
Section ‎8.6 or as otherwise provided by applicable law.

 

    	 

     

    

 

8.6
Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be
deemed effectively given upon the earlier of actual receipt, or (i) when delivered, if sent by personal delivery to the party
to be notified, (ii) when sent, if sent by electronic mail or facsimile (with electronic conformation of delivery) on a business
day and during normal business hours of the recipient, and otherwise on the first business day in the place of recipient, (iii)
five (5) business days after having been sent, if sent by registered or certified mail, return receipt requested, postage prepaid,
or (iv) one (1) business day after deposit with an internationally recognized overnight courier, freight prepaid, specifying next
business day delivery, with written confirmation of receipt. All communications shall be sent to the respective parties at their
address or contact details as set forth below, or to such address or contact details as subsequently modified by written notice
given in accordance with this Section 8.6 or, in the case of the Investor, as used for purposes of sending shareholders’
notices by the Company.

 

	If
    to the Company:	Habarzel
    7, Tel Aviv, Israel 6971011
	 	Attention:	Dan
    Sztybel
	 	Telephone:	+972-72-2116144
	 	E-mail:	dan@savefoods.co
	 	 	 
	 	with
    a mandatory copy to (which shall not constitute a notice):
	 	 
	 	Meitar
        Law Offices

        16
        Abba Hillel St., Ramat-Gan, Israel

	 	Attention:
    	Matthew
    Rudolph, Adv.
	 	Telephone:	+972-3-6103717
	 	E-mail:	matthewr@meitar.com
	 	 	 
	If
    to the Investor:	Omer
    Industrial Park, No. 7A, P.O. Box 3030, Omer 8496500, Israel 
	 	Attention:
    	Liron
    Carmel
	 	Telephone:
    	+972
    72 260-2200
	 	Email:
    	Liron.Carmel@medigus.com
	 	 	 
	 	with
    a mandatory copy to (which shall not constitute a notice):
	 	 
	 	Meitar Law Offices

16 Abba Hillel St., Ramat-Gan, Israel

	 	Attention:
    	Dr.
    Shachar Hadar, Adv.
	 	Telephone:	+972-3-6103961
	 	E-mail:
    	shacharh@meitar.com

 

8.7
Delays or Omissions. Except as expressly provided herein, no delay or omission to exercise any right, power or remedy accruing
to any party to this Agreement upon any breach or default of any other party under this Agreement, shall impair any such right,
power or remedy of such non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence
therein, or of any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed
a waiver of any other breach or default therefore or thereafter occurring. Any waiver, permit, consent or approval of any kind
or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of
any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set
forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party to this Agreement,
shall be cumulative and not alternative.

 

    	 

     

    

 

8.8
Interpretation. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered
in construing or interpreting this Agreement. The words “include”, “includes” and “including”
shall be deemed to be followed by the phrase “without limitation”. Unless the context requires otherwise, the words
“herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer
to this Agreement in its entirety, and not to any particular provision hereof, and all references herein to Sections shall be
construed to refer to Sections to this Agreement. Reference to “governmental authorities” (or similar terms) shall
include any: (a) nation, principality, state, commonwealth, territory, county, municipality, district or other jurisdiction of
any nature, (b) federal, state, local, municipal, foreign or other government, (c) governmental, quasi-governmental or regulatory
body of any nature, including any governmental division, subdivision, department, agency, bureau, branch, office, commission,
council, board, instrumentality, organization, unit, or body, or (d) court, public or private arbitrator or other public tribunal.
Reference to a “person” shall mean any individual, corporation, partnership, limited liability company, firm, joint
venture, association, joint-stock company, trust, estate, unincorporated organization, governmental authority or other entity,
including, any party to this Agreement. Any reference to a “day” or a number of days (without explicit reference to
“business days”) shall be interpreted as a reference to a calendar day or number of calendar days, and if any action
is to be taken or given on or by a particular calendar day, and such calendar day is not a business day, then such action may
be deferred until the first business day thereafter (where “business day” shall mean any day on which banking institutions
in Tel-Aviv-Jaffa, Israel are generally open to the public for conducting business and are not required by law to close).

 

8.9
Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision
shall be excluded from this Agreement and the balance of the Agreement shall be enforceable in accordance with its terms and interpreted
so as to give effect, to the fullest extent consistent with and permitted by applicable law, to the meaning and intention of the
excluded provision.

 

8.10
Counterparts. This Agreement and any Transaction Document may be executed in one or more counterparts, all of which together
shall constitute one and the same instrument, binding and enforceable against the parties so executing the same; it being understood
that all parties need not sign the same counterpart. Counterparts may also be delivered by facsimile or email transmission (in
pdf format or the like, or signed with docusign, e-sign or any similar form of signature by electronic means) and any counterpart
so delivered shall be sufficient to bind the parties to this Agreement or any other Transaction Document, as an original.

 

8.11
Waiver of Conflict; Acknowledgment. Each party to this Agreement acknowledges and agrees that it was advised, prior to
the date hereof, that the law firm Meitar, Law Offices, is representing the Company and the Investor in connection with this Agreement
and the transactions contemplated hereby, that the Company and such Investor have previously provided their consent to the foregoing
in accordance with the applicable rules and shall not have any right, claim or demand against any party, such law firm or any
of its employees, partners or representatives with respect to the foregoing.

 

-
Signature Pages Follow -

 

    	 

     

    

 

IN
WITNESS WHEREOF, the parties have executed this SECURITIES PURCHASE AGREEMENT to be executed as of the date first written above.

 

	 	COMPANY:
	 	 	 
	 	/s/ Dan Sztybel
	 	SAVE FOODS, INC.
	 	 	 
	 	Name:	Dan
    Sztybel
	 	Title:	Chief
    Executive Officer

 

[Company
Signature Page to Securities Purchase Agreement]

 

    	 

     

    

 

IN
WITNESS WHEREOF, the parties have executed this SECURITIES PURCHASE AGREEMENT as of the date first written above.

 

	INVESTOR:	 
	 	 	 
	/s/ Liron Carmel	 
	MEDIGUS LTD.	 
	 	 
	Name:
    	Liron
    Carmel	 
	Title:
    	Chief
    Executive Officer	 

 

[Investor
Signature Page to Securities Purchase Agreement]

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