Document:

Exhibit 4.3

 

EXHIBIT
B

 

ORDINARY
SHARES PURCHASE WARRANT

 

NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

	 	Right
    to Purchase such Number of Ordinary Shares of Todos Medical Ltd. as to be Determined (subject to adjustment as provided herein)

 

ORDINARY
SHARES PURCHASE WARRANT

 

	No. 2019-_______	Issue Date: May ___, 2019      

 

TODOS
MEDICAL LTD., a corporation organized under the laws of the State of Israel (the “Company”), hereby certifies that,
for value received, __________, a Delaware limited liability company, or its assigns (the “Holder”), is entitled,
subject to the terms set forth below, to purchase from the Company at any time commencing six (6) months after the Determination
Date until 5:00 p.m., E.S.T on the third (3rd) anniversary of the Determination Date (the “Expiration Date”),
up to such number of Ordinary Shares of the Company as to be determined pursuant to Section 1A(a) of the securities purchase agreement
(the “Securities Purchase Agreement”), dated as of May ___, 2019, entered into by the Company and the Holder, of
fully paid and nonassessable Ordinary Shares of the Company at a per share purchase price as to be determined pursuant to Section
1A(a) of the Securities Purchase Agreement. The purchase price per share, as adjusted from time to time as herein provided, is
referred to herein as the "Purchase Price." The number and character of such Ordinary Shares and the Purchase Price
are subject to adjustment as provided herein. Capitalized terms used and not otherwise defined herein shall have the meanings
set forth in the Securities Purchase Agreement.

 

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

 

(a)       The
term “Company” shall include Todos Medical Ltd. and any corporation which shall succeed or assume the obligations
of Todos Medical Ltd. hereunder.

 

(b)       The
term “Determination Date” means the date on which the number of Warrant Shares and the Purchase Price are determined
pursuant to Section 1A(a) of the Securities Purchase Agreement.

 

(c)       The
term “Ordinary Shares” includes (a) the Company's Ordinary Shares, NIS 0.01 par value per share, as authorized
on the date of the Securities Purchase Agreement, and (b) any other securities into which or for which any of the securities described
in (a) may be converted or exchanged pursuant to a plan of recapitalization, reorganization, merger, sale of assets or otherwise.

 

    

     

    

 

(d)       The
term “Other Securities” refers to any stock (other than Ordinary Shares) and other securities of the Company or any
other person (corporate or otherwise) which the holder of the Warrant at any time shall be entitled to receive, or shall have
received, on the exercise of the Warrant, in lieu of or in addition to Ordinary Shares, or which at any time shall be issuable
or shall have been issued in exchange for or in replacement of Ordinary Shares or Other Securities pursuant to Section 3
or otherwise.

 

(e)       The
term “Warrant Shares” shall mean the Ordinary Shares issuable upon exercise of this Warrant.

 

1.       Exercise
of Warrant.

 

1.1.       Number
of Shares Issuable upon Exercise. From and after the Determination Date through and including the Expiration Date, the Holder
hereof shall be entitled to receive, upon exercise of this Warrant in whole in accordance with the terms of subsection 1.2
or upon exercise of this Warrant in part in accordance with subsection 1.3, Ordinary Shares of the Company, subject to adjustment
pursuant to Section 3.

 

1.2.       Full
Exercise. This Warrant may be exercised in full by the Holder hereof by delivery of an original, pdf copy via electronic mail
or facsimile copy of the form of subscription attached as Exhibit A hereto (the “Subscription Form”) duly
executed by such Holder, and on a cash-basis by delivery within two days thereafter of payment, either in cash, by wire transfer,
or by certified or official bank check payable to the order of the Company, in the amount obtained by multiplying the number of
Ordinary Shares for which this Warrant is then exercisable by the Purchase Price then in effect (as may be adjusted to reflect
any adjustment in the total number of Ordinary Shares issuable to the Holder per the terms of this Warrant), or on a cashless
basis as provided for in Section 2 below. The original Warrant is not required to be surrendered to the Company until it has been
fully exercised.

 

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

 

1.4.       Fair
Market Value. Fair Market Value of an Ordinary Share as of a particular date (the "FMV Date") shall mean:

 

(a)       If
the Company's Ordinary Shares are traded on an exchange or is quoted on the NASDAQ Global Market, Nasdaq Global Select Market,
the NASDAQ Capital Market, the New York Stock Exchange or the American Stock Exchange, LLC, then the average of the closing or
last prices, respectively, reported for the ten trading days immediately preceding the FMV Date, as quoted by Bloomberg, LP;

 

(b)       If
the Company's Ordinary Shares are not traded on an exchange or on the NASDAQ Global Market, Nasdaq Global Select Market, the NASDAQ
Capital Market, the New York Stock Exchange or the American Stock Exchange, LLC, but is traded in the over-the-counter market,
then the average of the closing bid price reported for the ten trading days immediately preceding the FMV Date, as quoted by Bloomberg,
LP;

 

(c)       Except
as provided in clause (d) below and Section 2.1, if the Company's Ordinary Shares are not publicly traded, then as the Holder
and the Company agree, or in the absence of such an agreement, by arbitration in accordance with the rules then standing of the
American Arbitration Association, before a single arbitrator to be chosen from a panel of persons qualified by education and training
to pass on the matter to be decided; or

 

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(d)       If
the FMV Date is the date of a liquidation, dissolution or winding up, or any event deemed to be a liquidation, dissolution or
winding up pursuant to the Company's Articles of Association, then all amounts to be payable per share to holders of the Ordinary
Shares pursuant to the Articles of Association in the event of such liquidation, dissolution or winding up, plus all other amounts
to be payable per share in respect of the Ordinary Shares in liquidation under the Articles of Association, assuming for the purposes
of this clause (d) that all of the Ordinary Shares then issuable upon exercise of all of the Warrants are outstanding at
the FMV Date.

 

1.5.       Company
Acknowledgment. The Company will, at the time of the exercise of the Warrant, upon the request of the Holder hereof acknowledge
in writing its continuing obligation to afford to such Holder any rights to which such Holder shall continue to be entitled after
such exercise in accordance with the provisions of this Warrant. If the Holder shall fail to make any such request, such failure
shall not affect the continuing obligation of the Company to afford to such Holder any such rights.

 

1.6.       Trustee
for Warrant Holders. In the event that a bank or trust company shall have been appointed as trustee for the Holder of the
Warrants pursuant to Subsection 3.2, such bank or trust company shall have all the powers and duties of a warrant agent (as
hereinafter described) and shall accept, in its own name for the account of the Company or such successor person as may be entitled
thereto, all amounts otherwise payable to the Company or such successor, as the case may be, on exercise of this Warrant pursuant
to this Section 1.

 

1.7Delivery
of Stock Certificates, etc. on Exercise. The Company agrees that the Ordinary Shares purchased upon exercise of this Warrant
shall be deemed to be issued to the Holder hereof as the record owner of such shares as of the close of business on the date on
which delivery of a Subscription Form shall have occurred and payment made for such shares as aforesaid. As soon as practicable
after the exercise of this Warrant in full or in part, and in any event within three (3) business days thereafter (“Warrant
Share Delivery Date”), the Company at its expense (including the payment by it of any applicable issue taxes) will cause
to be issued in the name of and delivered to the Holder hereof, or as such Holder (upon payment by such Holder of any applicable
transfer taxes) may direct in compliance with applicable securities laws, a certificate or certificates for the number of duly
and validly issued, fully paid and non-assessable Ordinary Shares (or Other Securities) to which such Holder shall be entitled
on such exercise, plus, in lieu of any fractional share to which such Holder would otherwise be entitled, cash equal to such fraction
multiplied by the then Fair Market Value of one full Ordinary Share, together with any other stock or other securities and property
(including cash, where applicable) to which such Holder is entitled upon such exercise pursuant to Section 1 or otherwise.

 

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2.       Cashless
Exercise.

 

(a)       Commencing
six months after the Determination Date, provided such ordinary shares of the Company issuable here under are not subject to an
effective registration statement, upon delivering a Subscription Form, in lieu of making payment of the aggregate Purchase Price
in cash or by wire transfer, the Holder may elect instead to receive upon such exercise the “Net Number” of ordinary
shares determined according to the following formula (the “Cashless Exercise”):

 

	 	Net
    Number =	(A x B) – (A x C)	 
	 	 	B	 

 

Where
for purposes of the foregoing formula:

 

		A
                                         =	the
                                         total number of Warrant Shares with respect to which this Warrant is then being exercised.

 

		B
                                         =	the
                                         average of the last closing price (if traded on an exchange) or closing bid price (if
                                         not traded on an exchange) of the Ordinary Shares for the five (5) Trading Days immediately
                                         prior to (but not including) the Exercise Date as quoted by Bloomberg, LP, or Fair Market
                                         Value, whichever is less on the date of exercise of the Warrant.

 

		C
                                         =	the
                                         Purchase Price then in effect for the applicable Warrant Shares at the time of such exercise.

 

For
purposes of Rule 144 promulgated under the 1933 Act, it is intended, understood and acknowledged that the Warrant Shares issued
in a cashless exercise transaction shall be deemed to have been acquired by the Holder, and the holding period for the Warrant
Shares shall be deemed to have commenced, on the date this Warrant was originally issued pursuant to the Securities Purchase Agreement.

 

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

 

3.1.       Fundamental Transaction. 
If, at any time while this Warrant is outstanding, (A) the Company  effects any merger or  consolidation 
of the Company with or into another entity, (B) the Company effects any sale of all or substantially all of its assets in
one or a series of related transactions,  (C) any tender offer or exchange offer (whether by
the Company or another entity) is completed pursuant to which holders of Ordinary Shares are permitted to tender or exchange
their shares for other securities, cash or property, (D) the Company consummates a stock purchase agreement
or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement)
with one or more persons or entities whereby such other persons or entities acquire more than the 50% of the outstanding Ordinary
Shares (not including any Ordinary Shares held by such other persons or entities making or party to, or associated or affiliated
with the other persons or entities making or party to, such stock purchase agreement or other business combination), (E) any "person"
or "group" (as these terms are used for purposes of Sections 13(d) and 14(d) of the 1934 Act) is or shall become the
"beneficial owner" (as defined in Rule 13d-3 under the 1934 Act), directly or indirectly, of 50% of the aggregate Ordinary
Shares of the Company, or (F) the Company effects any reclassification of the Ordinary Shares or any
compulsory share exchange pursuant to which the Ordinary Shares is effectively converted into
or exchanged for other securities, cash or property (in any such case, a "Fundamental  Transaction"), then,
upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that
would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at
the option of the Holder, (a) upon exercise of this Warrant, the number of Ordinary Shares of the successor or acquiring corporation or
of the Company, if it is the surviving corporation, and any additional consideration (the "Alternate Consideration") receivable upon
or as a result of such reorganization, reclassification, merger, consolidation or disposition of assets
by a Holder of the number of Ordinary Shares for which this Warrant is exercisable immediately prior to such event or
(b) if the Company is acquired in (1) a transaction where the consideration paid to the holders of the Ordinary Shares
consists solely of cash, (2) a “Rule 13e-3 transaction” as defined in Rule 13e-3 under the 1934 Act, or (3) a transaction
involving a person or entity not traded on a national securities exchange, the Nasdaq Global Select Market, the Nasdaq Global
Market or the Nasdaq Capital Market, cash equal to the Black-Scholes Value.  For purposes of any
such exercise, the determination of the Purchase Price shall be appropriately adjusted to apply to such Alternate
Consideration based on the amount of Alternate Consideration issuable in respect of one Ordinary Shares in such Fundamental
Transaction, and the Company shall apportion the Purchase Price among the Alternate Consideration
in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders
of Ordinary Shares are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then
the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following
such Fundamental Transaction.  To the extent necessary to effectuate the foregoing provisions, any
successor to the Company or surviving entity in such Fundamental Transaction shall issue to the Holder a new warrant consistent with
the foregoing provisions and evidencing the Holder's right to exercise such warrant into Alternate
Consideration.  The terms of any agreement pursuant to which a Fundamental Transaction is effected shall include terms
requiring any such successor or surviving entity to comply with the provisions of this Section 2.1 and insuring that
this Warrant (or any such replacement security) will be similarly adjusted upon any subsequent transaction analogous to a
Fundamental Transaction. “Black-Scholes Value” shall be determined in accordance with the Black-Scholes Option Pricing
Model obtained from the “OV” function on Bloomberg L.P. using (i) a price per Ordinary Shares equal to the VWAP of
the Ordinary Shares for the Trading Day immediately preceding the date of consummation of the applicable Fundamental Transaction,
(ii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the remaining term of this Warrant
as of the date of such request and (iii) an expected volatility equal to the 100 day volatility obtained from the HVT function
on Bloomberg L.P. determined as of the Trading Day immediately following the public announcement of the applicable Fundamental
Transaction.

 

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3.2.       Dissolution.
In the event of any dissolution of the Company following the transfer of all or substantially all of its properties or assets,
the Company, prior to such dissolution, shall at its expense deliver or cause to be delivered the stock and other securities and
property (including cash, where applicable) receivable by the Holder of the Warrants after the effective date of such dissolution
pursuant to this Section 3 to a bank or trust company (a "Trustee") having its principal office in New York,
NY, as trustee for the Holder of the Warrants. Such property shall be delivered only upon payment of the Warrant exercise price.

 

3.3.       Continuation
of Terms. Upon any reorganization, consolidation, merger or transfer (and any dissolution following any transfer) referred
to in this Section 3, this Warrant shall continue in full force and effect and the terms hereof shall be applicable to the
Other Securities and property receivable on the exercise of this Warrant after the consummation of such reorganization, consolidation
or merger or the effective date of dissolution following any such transfer, as the case may be, and shall be binding upon the
issuer of any Other Securities, including, in the case of any such transfer, the person acquiring all or substantially all of
the properties or assets of the Company, whether or not such person shall have expressly assumed the terms of this Warrant as
provided in Section 4. In the event this Warrant does not continue in full force and effect after the consummation of the
transaction described in this Section 3, then only in such event will the Company's securities and property (including cash,
where applicable) receivable by the Holder of the Warrants be delivered to the Trustee as contemplated by Section 3.2.

 

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

 

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5.       Certificate
as to Adjustments. In each case of any adjustment or readjustment in the Ordinary Shares (or Other Securities) issuable on
the exercise of the Warrants, the Company at its expense will promptly cause its Chief Financial Officer or other appropriate
designee to compute such adjustment or readjustment in accordance with the terms of the Warrant and prepare a certificate setting
forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based, including
a statement of (a) the consideration received or receivable by the Company for any additional Ordinary Shares (or Other Securities)
issued or sold or deemed to have been issued or sold, (b) the number of Ordinary Shares (or Other Securities) outstanding
or deemed to be outstanding, and (c) the Purchase Price and the number of Ordinary Shares to be received upon exercise of
this Warrant, in effect immediately prior to such adjustment or readjustment and as adjusted or readjusted as provided in this
Warrant. The Company will forthwith mail a copy of each such certificate to the Holder of the Warrant and any Warrant Agent of
the Company (appointed pursuant to Section 10 hereof).

 

6.       Reservation
of Stock, etc. Issuable on Exercise of Warrant; Financial Statements. The Company will at all times reserve and keep available,
solely for issuance and delivery on the exercise of the Warrants, all Ordinary Shares (or Other Securities) from time to time
issuable on the exercise of the Warrant. This Warrant entitles the Holder hereof to receive copies of all financial and other
information distributed or required to be distributed to the holders of the Company's Ordinary Shares.

 

7.       Assignment;
Exchange of Warrant. Subject to compliance with applicable securities laws, this Warrant, and the rights evidenced hereby,
may be transferred by any registered holder hereof (a "Transferor"). On the surrender for exchange of this Warrant,
with the Transferor's endorsement in the form of Exhibit B attached hereto (the “Transferor Endorsement Form")
and together with an opinion of counsel reasonably satisfactory to the Company that the transfer of this Warrant will be in compliance
with applicable securities laws, the Company will issue and deliver to or on the order of the Transferor thereof a new Warrant
or Warrants of like tenor, in the name of the Transferor and/or the transferee(s) specified in such Transferor Endorsement Form
(each a "Transferee"), calling in the aggregate on the face or faces thereof for the number of Ordinary Shares called
for on the face or faces of the Warrant so surrendered by the Transferor.

 

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

 

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

 

10.       Warrant
Agent. The Company may, by written notice to the Holder of the Warrant, appoint an agent (a “Warrant Agent”) for
the purpose of issuing Ordinary Shares (or Other Securities) on the exercise of this Warrant pursuant to Section 1, exchanging
this Warrant pursuant to Section 7, and replacing this Warrant pursuant to Section 8, or any of the foregoing, and thereafter
any such issuance, exchange or replacement, as the case may be, shall be made at such office by such Warrant Agent.

 

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11.       Transfer
on the Company's Books. Until this Warrant is transferred on the books of the Company, the Company may treat the registered
holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

 

12.       Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified
most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed
effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile
machine, at the address or number designated below (if delivered on a business day during normal business hours where such notice
is to be received), or the first business day following such delivery (if delivered other than on a business day during normal
business hours where such notice is to be received), (b) receipt, when sent by electronic mail (provided that the electronic mail
transmission is not returned in error or the sender is not otherwise notified of any error in transmission or (c) on the second
business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual
receipt of such mailing, whichever shall first occur. The addresses for such communications shall be: if to the Company, to: Todos
Medical Ltd., 1 Hamada, Rehovot, Israel, Attn: Chief Financial Officer, with a copy by telecopier only to: Steve Kronengold, SRK
Law Offices, Oppenheimer 7, Rehovot, Israel, Fax: +972-8-936-6000, and (ii) if to the Holder, to the address and telecopier number
listed in the records of the Company, or such other address as such party may designate by notice hereunder.

 

13.       Law
Governing This Warrant. This Warrant shall be governed by and construed in accordance with the laws of the State of Nevada
without regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions
contemplated by this Warrant shall be brought only in the state courts or federal courts located in New York. The parties to this
Warrant hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert
any defense based on lack of jurisdiction or venue or based upon forum non conveniens. EACH PARTY HEREBY IRREVOCABLY
WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR UNDER
ANY OTHER TRANSACTION DOCUMENT ENTERED INTO IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT
OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY. The prevailing party shall be entitled to recover from the other party
its reasonable attorney's fees and costs. In the event that any provision of this Warrant or any other agreement delivered in
connection herewith is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed
inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of
law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability
of any other provision of any agreement. Each party hereby irrevocably waives personal service of process and consents to process
being served in any suit, action or proceeding in connection with this Agreement or any other Transaction Document by mailing
a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address
in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of
process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other
manner permitted by law.

 

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

 

	 	TODOS MEDICAL LTD.
	 	 	 
	 	By:	 
	 	 	Name:

 

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Exhibit
A

 

FORM
OF SUBSCRIPTION

(to
be signed only on exercise of Warrant)

 

TO:
TODOS MEDICAL LTD.

 

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

 

__
     ________ Ordinary Shares covered by such Warrant.

 

__ 
    ________ the maximum number of Ordinary Shares covered by such Warrant pursuant to the cashless
exercise procedure set forth in Section 2.

 

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

 

___$__________
in lawful money of the United States and/or

 

___the
cancellation of such portion of the attached Warrant as is exercisable for a total of _______ Ordinary Shares (using a Fair Market
Value of $_______ per share for purposes of this calculation); and/ or

 

___the
cancellation of such number of Ordinary Shares as is necessary, in accordance with the formula set forth in Section 2, to
exercise this Warrant with respect to the maximum number of Ordinary Shares purchasable pursuant to the cashless exercise procedure
set forth in Section 2.

 

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

______________________________________.

 

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

 

	Dated:	 	 	 
	 	 	 	(Signature
        must conform to name of holder as specified on the face of the Warrant)
	 	 	 	 
	 	 	 	 
	 	 	 	(Address)

 

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Exhibit B

 

FORM
OF TRANSFER OR ENDORSEMENT

(To
be signed only on transfer of Warrant)

 

For
value received, the undersigned hereby sells, assigns, and transfers unto the person(s) named below under the heading "Transferees"
the right represented by the within Warrant to purchase the percentage and number of Ordinary Shares of TODOS MEDICAL LTD. to
which the within Warrant relates specified under the headings "Percentage Transferred" and "Number Transferred,"
respectively, opposite the name(s) of such person(s) and appoints each such person Attorney to transfer its respective right on
the books of TODOS MEDICAL LTD. with full power of substitution in the premises.

 

	Transferees	 	Percentage
    Transferred	 	Number
    Transferred
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

	Dated:
        ______________, ___________	 	 
	 	 	(Signature
        must conform to name of holder as specified on the face of the warrant)

 

Signed
        in the presence of:

	 	 	 
	(Name)	 	 
	 	 	(address)
	 	 	 
	ACCEPTED
        AND AGREED:	 	 
	[TRANSFEREE]	 	 
	 	 	(address)
	 	 	 
	(Name)	 	 

 

 

10Exhibit 4.4

 

EXHIBIT
C

 

ORDINARY
SHARES PURCHASE WARRANT

 

NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

	 	Right
    to Purchase _____ (subject to adjustment as provided herein)

 

ORDINARY
SHARES PURCHASE WARRANT

  

	No. 2019-________	Issue Date: May ___, 2019

 

TODOS
MEDICAL LTD., a corporation organized under the laws of the State of Israel (the “Company”), hereby certifies that,
for value received, _____________, or its assigns (the “Holder”), is entitled, subject to the terms set forth below,
to purchase from the Company at any time commencing six (6) months after the Determination Date until 5:00 p.m. E.S.T. on the
third (3rd) anniversary of the Determination Date (the “Expiration Date”), up to _______ fully paid and
nonassessable Ordinary Shares of the Company at a per share purchase price equal to $____. The purchase price per share, as adjusted
from time to time as herein provided, is referred to herein as the “Purchase Price.” The number and character of such
Ordinary Shares and the Purchase Price are subject to adjustment as provided herein. Capitalized terms used and not otherwise
defined herein shall have the meanings set forth in the Securities Purchase Agreement (as defined herein).

 

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

 

(a)
The term “Company” shall include Todos Medical Ltd. and any corporation which shall succeed or assume the obligations
of Todos Medical Ltd. hereunder.

 

(b)
The term “Determination Date” means the earlier of (i) the date of the consummation of the Company’s proposed
public offering and uplisting to the NASDAQ Market System (the “Uplisting”), or (ii) the date on which the Holder
converts the Loan Principal into ordinary shares of the Company pursuant to Section 1A of the securities purchase agreement, dated
as of May __, 2019, entered into by the Company and the Holder (the “Securities Purchase Agreement”).

 

(c)
The term “Ordinary Shares” includes (a) the Company’s Ordinary Shares, NIS 0.01 par value per share, as authorized
on the date of the Securities Purchase Agreement, and (b) any other securities into which or for which any of the securities described
in (a) may be converted or exchanged pursuant to a plan of recapitalization, reorganization, merger, sale of assets or otherwise.

 

     

     

    

 

(d)
The term “Other Securities” refers to any stock (other than Ordinary Shares) and other securities of the Company or
any other person (corporate or otherwise) which the holder of the Warrant at any time shall be entitled to receive, or shall have
received, on the exercise of the Warrant, in lieu of or in addition to Ordinary Shares, or which at any time shall be issuable
or shall have been issued in exchange for or in replacement of Ordinary Shares or Other Securities pursuant to Section 3
or otherwise.

 

(e)
The term “Warrant Shares” shall mean the Ordinary Shares issuable upon exercise of this Warrant.

 

1.
Exercise of Warrant.

 

1.1.
Number of Shares Issuable upon Exercise. At any time commencing six (6) months after the Determination Date through and
including the Expiration Date, the Holder hereof shall be entitled to receive, upon exercise of this Warrant in whole in accordance
with the terms of subsection 1.2 or upon exercise of this Warrant in part in accordance with subsection 1.3, Ordinary
Shares of the Company, subject to adjustment pursuant to Section 3.

 

1.2.
Full Exercise. This Warrant may be exercised in full by the Holder hereof by delivery of an original, pdf copy via electronic
mail or facsimile copy of the form of subscription attached as Exhibit A hereto (the “Subscription Form”)
duly executed by such Holder, and on a cash-basis by delivery within two days thereafter of payment, either in cash, by wire transfer,
or by certified or official bank check payable to the order of the Company, in the amount obtained by multiplying the number of
Ordinary Shares for which this Warrant is then exercisable by the Purchase Price then in effect (as may be adjusted to reflect
any adjustment in the total number of Ordinary Shares issuable to the Holder per the terms of this Warrant), or on a cashless
basis as provided for in Section 2 below. The original Warrant is not required to be surrendered to the Company until it has been
fully exercised.

 

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

 

1.4.
Fair Market Value. Fair Market Value of an Ordinary Share as of a particular date (the “FMV Date”) shall mean:

 

(a)
If the Company’s Ordinary Shares are traded on an exchange or is quoted on the NASDAQ Global Market, Nasdaq Global Select Market,
the NASDAQ Capital Market, the New York Stock Exchange or the American Stock Exchange, LLC, then the average of the closing or
last prices, respectively, reported for the ten trading days immediately preceding the FMV Date, as quoted by Bloomberg, LP;

 

(b)
If the Company’s Ordinary Shares are not traded on an exchange or on the NASDAQ Global Market, Nasdaq Global Select Market, the
NASDAQ Capital Market, the New York Stock Exchange or the American Stock Exchange, LLC, but is traded in the over-the-counter
market, then the average of the closing bid price reported for the ten trading days immediately preceding the FMV Date, as quoted
by Bloomberg, LP;

 

(c)
Except as provided in clause (d) below and Section 2.1, if the Company’s Ordinary Shares are not publicly traded, then as
the Holder and the Company agree, or in the absence of such an agreement, by arbitration in accordance with the rules then standing
of the American Arbitration Association, before a single arbitrator to be chosen from a panel of persons qualified by education
and training to pass on the matter to be decided; or

 

    2

     

    

 

(d)
If the FMV Date is the date of a liquidation, dissolution or winding up, or any event deemed to be a liquidation, dissolution
or winding up pursuant to the Company’s Articles of Association, then all amounts to be payable per share to holders of the Ordinary
Shares pursuant to the Articles of Association in the event of such liquidation, dissolution or winding up, plus all other amounts
to be payable per share in respect of the Ordinary Shares in liquidation under the Articles of Association, assuming for the purposes
of this clause (d) that all of the Ordinary Shares then issuable upon exercise of all of the Warrants are outstanding at
the FMV Date.

 

1.5.
Company Acknowledgment. The Company will, at the time of the exercise of the Warrant, upon the request of the Holder hereof
acknowledge in writing its continuing obligation to afford to such Holder any rights to which such Holder shall continue to be
entitled after such exercise in accordance with the provisions of this Warrant. If the Holder shall fail to make any such request,
such failure shall not affect the continuing obligation of the Company to afford to such Holder any such rights.

 

1.6.
Trustee for Warrant Holders. In the event that a bank or trust company shall have been appointed as trustee for the Holder
of the Warrants pursuant to Subsection 3.2, such bank or trust company shall have all the powers and duties of a warrant
agent (as hereinafter described) and shall accept, in its own name for the account of the Company or such successor person as
may be entitled thereto, all amounts otherwise payable to the Company or such successor, as the case may be, on exercise of this
Warrant pursuant to this Section 1.

 

1.7
Delivery of Stock Certificates, etc. on Exercise. The Company agrees that the Ordinary Shares purchased upon exercise of
this Warrant shall be deemed to be issued to the Holder hereof as the record owner of such shares as of the close of business
on the date on which delivery of a Subscription Form shall have occurred and payment made for such shares as aforesaid. As soon
as practicable after the exercise of this Warrant in full or in part, and in any event within three (3) business days thereafter
(“Warrant Share Delivery Date”), the Company at its expense (including the payment by it of any applicable issue taxes)
will cause to be issued in the name of and delivered to the Holder hereof, or as such Holder (upon payment by such Holder of any
applicable transfer taxes) may direct in compliance with applicable securities laws, a certificate or certificates for the number
of duly and validly issued, fully paid and non-assessable Ordinary Shares (or Other Securities) to which such Holder shall be
entitled on such exercise, plus, in lieu of any fractional share to which such Holder would otherwise be entitled, cash equal
to such fraction multiplied by the then Fair Market Value of one full Ordinary Share, together with any other stock or other securities
and property (including cash, where applicable) to which such Holder is entitled upon such exercise pursuant to Section 1
or otherwise.

 

2.
Cashless Exercise.

 

(a)
Commencing six months after the Determination Date, provided such ordinary shares of the Company issuable here under are not subject
to an effective registration statement, upon delivering a Subscription Form, in lieu of making payment of the aggregate Purchase
Price in cash or by wire transfer, the Holder may elect instead to receive upon such exercise the “Net Number” of
ordinary shares determined according to the following formula (the “Cashless Exercise”):

 

Net
Number = (A x B) – (A x C)

B

 

Where
for purposes of the foregoing formula:

 

A
= the total number of Warrant Shares with respect to which this Warrant is then being exercised.

 

    3

     

    

 

B
= the average of the last closing price (if traded on an exchange) or closing bid price (if not traded on an exchange) of the
Ordinary Shares for the five (5) Trading Days immediately prior to (but not including) the Exercise Date as quoted by Bloomberg,
LP, or Fair Market Value, whichever is less on the date of exercise of the Warrant.

 

C
= the Purchase Price then in effect for the applicable Warrant Shares at the time of such exercise.

 

For
purposes of Rule 144 promulgated under the 1933 Act, it is intended, understood and acknowledged that the Warrant Shares issued
in a cashless exercise transaction shall be deemed to have been acquired by the Holder, and the holding period for the Warrant
Shares shall be deemed to have commenced, on the date this Warrant was originally issued pursuant to the Securities Purchase Agreement.

 

3.
Adjustment for Reorganization, Consolidation, Merger, etc.

 

3.1.
Fundamental Transaction.  If, at any time while this Warrant is outstanding, (A) the Company  effects
any merger or  consolidation  of the Company with or into another entity, (B) the Company effects any sale of all
or substantially all of its assets in one or a series of related transactions,  (C) any tender offer
or exchange offer (whether by the Company or another entity) is completed pursuant to which holders of Ordinary
Shares are permitted to tender or exchange their shares for other securities, cash or property,
(D) the Company consummates a stock purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, spin-off or scheme of arrangement) with one or more persons or entities whereby such other persons or entities
acquire more than the 50% of the outstanding Ordinary Shares (not including any Ordinary Shares held by such other persons or
entities making or party to, or associated or affiliated with the other persons or entities making or party to, such stock purchase
agreement or other business combination), (E) any “person” or “group” (as these terms are used for purposes
of Sections 13(d) and 14(d) of the 1934 Act) is or shall become the “beneficial owner” (as defined in Rule 13d-3 under
the 1934 Act), directly or indirectly, of 50% of the aggregate Ordinary Shares of the Company, or (F) the Company
effects any reclassification of the Ordinary Shares or any compulsory share exchange pursuant to which the Ordinary
Shares is effectively converted into or exchanged for other securities, cash or property (in
any such case, a “Fundamental  Transaction”), then, upon any subsequent exercise of this Warrant,
the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior
to the occurrence of such Fundamental Transaction, at the option of the Holder, (a) upon exercise of this Warrant, the
number of Ordinary Shares of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and
any additional consideration (the “Alternate Consideration”) receivable upon or as a result of such reorganization,
reclassification, merger, consolidation or disposition of assets by a Holder of the number of Ordinary
Shares for which this Warrant is exercisable immediately prior to such event or (b) if the Company is acquired in
(1) a transaction where the consideration paid to the holders of the Ordinary Shares consists solely of cash, (2) a “Rule
13e-3 transaction” as defined in Rule 13e-3 under the 1934 Act, or (3) a transaction involving a person or entity not traded
on a national securities exchange, the Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market, cash equal to
the Black-Scholes Value.  For purposes of any such exercise, the determination of the Purchase Price shall
be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable
in respect of one Ordinary Shares in such Fundamental Transaction, and the Company shall apportion the
Purchase Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different
components of the Alternate Consideration. If holders of Ordinary Shares are given any choice as to the securities, cash or property to
be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration
it receives upon any exercise of this Warrant following such Fundamental Transaction.  To the extent necessary to effectuate the foregoing provisions, any
successor to the Company or surviving entity in such Fundamental Transaction shall issue to the Holder a new warrant consistent with
the foregoing provisions and evidencing the Holder’s right to exercise such warrant into Alternate
Consideration.  The terms of any agreement pursuant to which a Fundamental Transaction is effected shall include terms
requiring any such successor or surviving entity to comply with the provisions of this Section 2.1 and insuring that
this Warrant (or any such replacement security) will be similarly adjusted upon any subsequent transaction analogous to a
Fundamental Transaction. “Black-Scholes Value” shall be determined in accordance with the Black-Scholes Option Pricing
Model obtained from the “OV” function on Bloomberg L.P. using (i) a price per Ordinary Shares equal to the VWAP of
the Ordinary Shares for the Trading Day immediately preceding the date of consummation of the applicable Fundamental Transaction,
(ii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the remaining term of this Warrant
as of the date of such request and (iii) an expected volatility equal to the 100 day volatility obtained from the HVT function
on Bloomberg L.P. determined as of the Trading Day immediately following the public announcement of the applicable Fundamental
Transaction.

 

    4

     

    

 

3.2.
Dissolution. In the event of any dissolution of the Company following the transfer of all or substantially all of its properties
or assets, the Company, prior to such dissolution, shall at its expense deliver or cause to be delivered the stock and other securities
and property (including cash, where applicable) receivable by the Holder of the Warrants after the effective date of such dissolution
pursuant to this Section 3 to a bank or trust company (a “Trustee”) having its principal office in New York,
NY, as trustee for the Holder of the Warrants. Such property shall be delivered only upon payment of the Warrant exercise price.

 

3.3.
Continuation of Terms. Upon any reorganization, consolidation, merger or transfer (and any dissolution following any transfer)
referred to in this Section 3, this Warrant shall continue in full force and effect and the terms hereof shall be applicable
to the Other Securities and property receivable on the exercise of this Warrant after the consummation of such reorganization,
consolidation or merger or the effective date of dissolution following any such transfer, as the case may be, and shall be binding
upon the issuer of any Other Securities, including, in the case of any such transfer, the person acquiring all or substantially
all of the properties or assets of the Company, whether or not such person shall have expressly assumed the terms of this Warrant
as provided in Section 4. In the event this Warrant does not continue in full force and effect after the consummation of
the transaction described in this Section 3, then only in such event will the Company’s securities and property (including
cash, where applicable) receivable by the Holder of the Warrants be delivered to the Trustee as contemplated by Section 3.2.

 

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

 

5.
Certificate as to Adjustments. In each case of any adjustment or readjustment in the Ordinary Shares (or Other Securities)
issuable on the exercise of the Warrants, the Company at its expense will promptly cause its Chief Financial Officer or other
appropriate designee to compute such adjustment or readjustment in accordance with the terms of the Warrant and prepare a certificate
setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based,
including a statement of (a) the consideration received or receivable by the Company for any additional Ordinary Shares (or
Other Securities) issued or sold or deemed to have been issued or sold, (b) the number of Ordinary Shares (or Other Securities)
outstanding or deemed to be outstanding, and (c) the Purchase Price and the number of Ordinary Shares to be received upon
exercise of this Warrant, in effect immediately prior to such adjustment or readjustment and as adjusted or readjusted as provided
in this Warrant. The Company will forthwith mail a copy of each such certificate to the Holder of the Warrant and any Warrant
Agent of the Company (appointed pursuant to Section 10 hereof).

 

    5

     

    

 

6.
Reservation of Stock, etc. Issuable on Exercise of Warrant; Financial Statements. The Company will at all times reserve
and keep available, solely for issuance and delivery on the exercise of the Warrants, all Ordinary Shares (or Other Securities)
from time to time issuable on the exercise of the Warrant. This Warrant entitles the Holder hereof to receive copies of all financial
and other information distributed or required to be distributed to the holders of the Company’s Ordinary Shares.

 

7.
Assignment; Exchange of Warrant. Subject to compliance with applicable securities laws, this Warrant, and the rights evidenced
hereby, may be transferred by any registered holder hereof (a “Transferor”). On the surrender for exchange of this Warrant,
with the Transferor’s endorsement in the form of Exhibit B attached hereto (the “Transferor Endorsement Form”)
and together with an opinion of counsel reasonably satisfactory to the Company that the transfer of this Warrant will be in compliance
with applicable securities laws, the Company will issue and deliver to or on the order of the Transferor thereof a new Warrant
or Warrants of like tenor, in the name of the Transferor and/or the transferee(s) specified in such Transferor Endorsement Form
(each a “Transferee”), calling in the aggregate on the face or faces thereof for the number of Ordinary Shares called
for on the face or faces of the Warrant so surrendered by the Transferor.

 

8.
Replacement of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or
mutilation of this Warrant and, in the case of any such loss, theft or destruction of this Warrant, on delivery of an indemnity
agreement or security reasonably satisfactory in form and amount to the Company or, in the case of any such mutilation, on surrender
and cancellation of this Warrant, the Company at its expense, twice only, will execute and deliver, in lieu thereof, a new Warrant
of like tenor.

 

9.
Maximum Exercise. The Holder shall not be entitled to exercise this Warrant on an exercise date in connection with that
number of Ordinary Shares which would be in excess of the sum of (i) the number of Ordinary Shares beneficially owned by
the Holder and its affiliates on an exercise date, and (ii) the number of Ordinary Shares issuable upon the exercise of this
Warrant with respect to which the determination of this limitation is being made on an exercise date, which would result in beneficial
ownership by the Holder and its affiliates of more than 4.99% of the outstanding Ordinary Shares on such date. For the purposes
of the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of
the Securities 1934 Act, and Rule 13d-3 thereunder. Subject to the foregoing, the Holder shall not be limited to aggregate exercises
which would result in the issuance of more than 4.99%. The restriction described in this paragraph may be waived, in whole
or in part, upon sixty-one (61) days prior notice from the Holder to the Company to increase such percentage to up to 9.99%, but
not in excess of 9.99%. The Holder may decide whether to exercise this Warrant to achieve an actual 4.99% or up to 9.99% ownership
position as described above, but not in excess of 9.99%.

 

10.
Warrant Agent. The Company may, by written notice to the Holder of the Warrant, appoint an agent (a “Warrant Agent”)
for the purpose of issuing Ordinary Shares (or Other Securities) on the exercise of this Warrant pursuant to Section 1, exchanging
this Warrant pursuant to Section 7, and replacing this Warrant pursuant to Section 8, or any of the foregoing, and thereafter
any such issuance, exchange or replacement, as the case may be, shall be made at such office by such Warrant Agent.

 

    6

     

    

 

11.
Transfer on the Company’s Books. Until this Warrant is transferred on the books of the Company, the Company may treat the
registered holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

 

12.
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid,
or (iv) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party
shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder
shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting
facsimile machine, at the address or number designated below (if delivered on a business day during normal business hours where
such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during
normal business hours where such notice is to be received), (b) receipt, when sent by electronic mail (provided that the electronic
mail transmission is not returned in error or the sender is not otherwise notified of any error in transmission or (c) on the
second business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon
actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be: if to the Company,
to: Todos Medical Ltd., 1 Hamada, Rehovot, Israel, Attn: Chief Financial Officer, with a copy by telecopier only to: Steve Kronengold,
SRK Law Offices, Oppenheimer 7, Rehovot, Israel, Fax: +972-8-936-6000, and (ii) if to the Holder, to the address and telecopier
number listed in the records of the Company, or such other address as such party may designate by notice hereunder.

 

13.
Law Governing This Warrant. This Warrant shall be governed by and construed in accordance with the laws of the State of
Nevada without regard to principles of conflicts of laws. Any action brought by either party against the other concerning the
transactions contemplated by this Warrant shall be brought only in the state courts or federal courts located in New York. The
parties to this Warrant hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and
shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. EACH PARTY HEREBY
IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER
OR UNDER ANY OTHER TRANSACTION DOCUMENT ENTERED INTO IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT, ANY OTHER TRANSACTION
DOCUMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY. The prevailing party shall be entitled to recover from the other
party its reasonable attorney’s fees and costs. In the event that any provision of this Warrant or any other agreement delivered
in connection herewith is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed
inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of
law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability
of any other provision of any agreement. Each party hereby irrevocably waives personal service of process and consents to process
being served in any suit, action or proceeding in connection with this Agreement or any other Transaction Document by mailing
a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address
in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of
process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other
manner permitted by law.

 

    7

     

    

 

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

 

	 	TODOS
    MEDICAL LTD.
	 	 	 
	 	By:	 
	 		Name: 

 

    8

     

    

 

Exhibit
A

 

FORM
OF SUBSCRIPTION

(to
be signed only on exercise of Warrant)

 

TO:
TODOS MEDICAL LTD.

 

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

 

__
________ Ordinary Shares covered by such Warrant.

 

__
________ the maximum number of Ordinary Shares covered by such Warrant pursuant to the cashless exercise procedure set forth in
Section 2.

 

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

 

___
$__________ in lawful money of the United States and/or

 

___
the cancellation of such portion of the attached Warrant as is exercisable for a total of _______ Ordinary Shares (using a Fair
Market Value of $_______ per share for purposes of this calculation); and/ or

 

___
the cancellation of such number of Ordinary Shares as is necessary, in accordance with the formula set forth in Section 2,
to exercise this Warrant with respect to the maximum number of Ordinary Shares purchasable pursuant to the cashless exercise procedure
set forth in Section 2.

 

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

______________________________________
..

 

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

 

	Dated:___________________	 	
	 	 	(Signature
    must conform to name of holder as specified on the face of the Warrant)
	 	 	 
	 	 	
	 	 	
	 	 	(Address)

 

    9

     

    

 

Exhibit B

 

FORM
OF TRANSFER OR ENDORSEMENT 

(To
be signed only on transfer of Warrant)

 

For
value received, the undersigned hereby sells, assigns, and transfers unto the person(s) named below under the heading “Transferees”
the right represented by the within Warrant to purchase the percentage and number of Ordinary Shares of TODOS MEDICAL LTD. to
which the within Warrant relates specified under the headings “Percentage Transferred” and “Number Transferred,”
respectively, opposite the name(s) of such person(s) and appoints each such person Attorney to transfer its respective right on
the books of TODOS MEDICAL LTD. with full power of substitution in the premises.

 

	Transferees	 	Percentage
    Transferred	 	Number
    Transferred
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

	Dated:  ______________,
    ___________	 	 
	 	 	(Signature
    must conform to name of holder as specified on the face of the warrant)
	Signed
    in the presence of:	 	 
	 	 	 
	 	 	 
	(Name)	 	(address)
	 	 	 
	ACCEPTED
    AND AGREED:	 	 
	[TRANSFEREE]	 	 
	 	 	(address)
	 	 	 
	(Name)	 	 

 

 

10

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