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Exhibit 10.15    
    

 
 

AGREEMENT AND RELEASE    
    

        AGREEMENT AND RELEASE, dated as of November 11, 2003 by and between PSB Bancorp, Inc., a Pennsylvania bank holding company (the "Company"), First Penn
Bank, a Pennsylvania-chartered commercial bank (the "Bank"), and Mario L. Incollingo, (the "Executive"), an adult individual. 

        WHEREAS,
Executive has been employed by the Company and the Bank as its and their Chief Operating Officer, and in connection with Executive's separation from the Company and the Bank,
the parties desire to establish the terms of the cessation of their employment relationship. 

        NOW,
THEREFORE, intending to be legally bound hereby, the Company, the Bank and Executive agree as follows: 

        1.     Job Duties. Executive will satisfactorily perform his duties and responsibilities as Chief Operating Officer of the
Company and the Bank (as such duties and responsibilities are defined, from time to time, by the Company's and the Bank's Board of Directors) and in conformity with Section 3 of the Employment
Agreement between the Company, the Bank and Executive dated as of June 29, 2001 (the "Employment Agreement")) through and including
October 31, 2003. 

        2.     Maintenance on Payroll. Executive shall remain on the payroll of the Company and the Bank, at the same rate and subject to
the same withholdings as Executive's current base compensation, and eligible for all currently applicable benefits under the same terms and conditions as are presently available, through and including
January 2, 2004 (the "Termination Date"), whereupon Executive's employment shall terminate. Executive shall not be eligible for any bonus compensation (including bonus compensation described in
Section 4(b) of the Employment Agreement). 

        3.     Additional Consideration. The Company and the Bank will provide the additional consideration set forth below to the
Executive. 

	a)
	The
Company and the Bank will pay a total of Three Hundred Thousand Dollars ($300,000.00), less applicable withholding taxes and deductions required by law in two equal installments to
Executive. The first installment shall be paid on January 2, 2004 in the amount of One Hundred and Fifty Thousand Dollars ($150,000.00), less applicable withholding taxes and deductions
required by law. The second installment shall be paid on January 2, 2005, in the amount of One Hundred and Fifty Thousand Dollars ($150,000.00), less applicable withholding taxes and deductions
required by law.

	b)
	The
Company and the Bank will pay the premiums for continued coverage through December 31, 2005 for the Executive only under the Blue Cross/Blue Shield Security 65 Plan H, and
the existing life insurance plan of the Bank.

	c)
	The
Executive will receive the net cash value, of the Split Dollar Life Insurance policy, valued as of the date the Agreement is signed by the Executive. This payment shall be
contingent upon the Executive assigning his interest in the policy to the Company and the Bank by no later than January 2, 2004.

	d)
	The
Company and the Bank will assign the title of the Company automobile driven by the Executive, a 2001 Mercedes Benz sedan, VIN #WDBJF8321XO45253, no later than January 2,
2004.

	e)
	The
payments and agreements set forth in paragraph 3 (a), (b), (c) and (d) above shall be subject to the Executive's compliance with his non-compete
agreement as well as all other agreements incorporated by reference herein, and the terms of this Agreement. Executive's failure to comply with his non-compete agreement and such other
agreements shall entitle the Company and the Bank to cease all further payments, and seek reimbursement of payments 

 

made
subsequent to October 31, 2003, as well as the return of the automobile and the title of such automobile, referenced above. 

        4.     Related Agreement Concerning Stock Ownership. Executive shall receive Ten Thousand (10,000) stock options, with a strike
price of Eight Dollars and Sixty-one Cents ($8.61), vested as of the Termination Date, and exercisable over a ten year period commencing on the Termination Date, pursuant to a stock option
agreement between the parties, which is incorporated herein as if fully set forth. Any stock options that have not been exercised by Executive shall be considered void in the event Executive shall
breach his obligations under this Agreement, and the agreements incorporated by reference herein, specifically including, but not limited to, his non-compete obligation. 

        5.     Employee Stock Ownership Plan ("ESOP") and 401(K) plan. Executive shall receive payment of a 2003 ESOP award, at such time
as similarly situated executives receive such payments, and in an amount to be determined pursuant to the ESOP. The Company and the Bank shall match Executive's contributions for 2003 to his 401(k)
account, pursuant to the terms of the plan. 

        6.     Continued Applicability of Confidentiality and Restrictive Covenants of Employment Agreement. Executive expressly
acknowledges that the covenants and agreements set forth in Sections 7 (Covenant Not to Compete) and 8 (Remedies) of the Employment Agreement are incorporated herein as if fully set forth and shall
remain in full force and effect; provided, however, the term of the covenant not to compete set forth in paragraph 7 of the Employment Agreement
shall commence as of October 31, 2003 and continue until December 31, 2005. The remaining provisions of the Employment Agreement shall be null and void after October 31, 2003. 

        7.     Confidentiality of Agreement and Release. Executive acknowledges that the disclosure of this Agreement and Release or any
of the terms hereof could prejudice the Company and the Bank and would be detrimental to the Company's and the Bank's continuing relationship with its executives. Accordingly, Executive agrees not to
discuss or divulge either the existence or contents of this Agreement and Release to anyone other than Executive's immediate family, attorneys or tax advisors, and further agrees to use his best
efforts to ensure that none of those individuals will reveal its existence or contents to anyone else. Executive also agrees that all confidential business information which Executive acquired in
Executive's capacity as an Executive of any of the Releasees (as defined below) may not be disclosed, discussed or utilized by Executive in any manner without the prior written permission of the
Company. 

        8.     Executive Release of the Company. In consideration for the payments and other consideration provided for in this Agreement
and Release, Executive waives, releases and gives up any and all claims and rights which he may have against the Company, the Bank and any of its and their past or present subsidiaries, affiliated
companies, benefit plans, or its and their respective predecessors, successors and assigns (as well as their respective past or present officers, directors, agents, representatives or employees and
their respective successors and assigns, heirs, executors, and personal or legal representatives) ("Releasees"), based on any act, event, or omission occurring before the execution of this Agreement,
arising out of or in connection with Executive's employment with, or status as a Board member of, the Company and the Bank or its predecessors or separation from the Company's and the Bank's
employment or Board. Executive specifically waives, releases and gives up any and all claims arising from or relating to his employment or Board membership with or separation from employment or Board
membership from the Company and the Bank based on any act, event, or omission occurring before the execution of this Agreement, including but not limited to any claim which could be asserted now or in
the future under (a) the common law, including but not limited to theories of breach of express or implied contract or duty, tort, wrongful termination, defamation, or violation of public
policy; (b) any policies, practices, or procedures of the Company; (c) any federal, state and/or local statute or regulations, including but not limited to: The Age Discrimination in
Employment Act of 1967, as amended, 29 U.S.C. § 621 et. seq., the Older Workers Benefit Protection Act, 29 U.S.C. § 626, 

2

 

 et. seq., the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. § 1001 et. seq., the Americans
with Disabilities Act, 42 U.S.C. § 12101, et. seq., Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 200 (e),  et. seq., the Equal Pay Act,
29 U.S.C. § 206 (d), et. seq., the Family and Medical Leave
Act, 29 U.S.C. § 2601, et. seq., and/or the Pennsylvania Human Relations Act, as amended, 43 P.S. § 951  et. seq.; (d) any contract of
employment, expressed or implied; (e) any provision of the Constitution of the United States, the
Commonwealth of Pennsylvania or any other state; (f) any and all claims or actions for attorneys' fees arising out of the Action; and (g) any provision of any other law, common or
statutory, of the United States, Pennsylvania, or any other state. 

        This
release does not apply to claims that may arise after the date this Agreement is executed. 

        9.     Non-disparagement. Executive and Releasees agree that neither shall make, or cause to be made, any statement
or communicate any information (whether oral or written) about the other that is disparaging or capable of having disparaging meaning or is false or defamatory. 

        10.   Employee Acknowledgements. Executive acknowledges and understands that Executive has been advised to consult with an
attorney prior to executing this Agreement and Release. Executive also acknowledges and understands that Executive has the right to consider the terms of this Agreement and Release for
twenty-one (21) days, running from the date of Executive's receipt of this Agreement and Release, before signing this Agreement and Release. Upon the signing of this Agreement and
Release by Executive, Executive understands that Executive shall have a period of seven (7) days following Executive's signing of this Agreement and Release in which Executive may revoke this
Agreement and Release. This Agreement and Release shall not become effective or enforceable until this seven (7) day revocation period has expired. 

        11.   Separability. If any term or provision of this Agreement and Release, or the application thereof to any person or
circumstances will to any extent be invalid or unenforceable, the remainder of this Agreement and Release, or the application of such terms to persons or circumstances other than those as to which it
is invalid or unenforceable, will not be affected thereby, and each term of this Agreement and Release will be valid and enforceable to the fullest extent permitted by law. 

        12.   Entire Agreement. This Agreement supersedes any and all prior agreements between the parties, including, but not limited
to, the Employment Agreement, which shall be null and void, except for the Sections 7 and 8 of the Employment Agreement, as amended herein, which shall continue in full force and effect. This
Agreement and Release constitutes the entire understanding and agreement between the Company, the Bank and Executive with regard to all matters herein. There are no other agreements, conditions, or
representations, oral or written, express or implied, with regard thereto. This Agreement may be amended only in writing, signed by both parties hereto. 

        13.   Successors, Binding Agreement. This Agreement shall inure to the benefit of and be enforceable by the Company and the
Bank, and their successors and assigns, to which Executive expressly hereby consents to such assignment, and to the Executive and his heirs and estate. If the Executive should die while any amount
would be payable to the Executive under this Agreement if the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this
Agreement to the Executive's devisee, legatee or other designee, or, if there is no such designee, to the Executive's estate. 

        14.   Dispute Resolution. Any dispute arising under this Agreement shall be governed by arbitration under the Employment Rules
of the American Arbitration Association. 

3

 

        IN
WITNESS WHEREOF, each of the parties hereto has caused this Agreement and Release to be executed for and on its behalf as of the date first above written. 

	 	 	PSB Bancorp, Inc
	

 	
 	

By:	

 Name:

Title:
	

 	
 	

First Penn Bank
	

 	
 	

By:	

 Name:

Title:
	

 	
 	

 Mario L. Incollingo                Date:

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Exhibit 10.15

AGREEMENT AND RELEASEExhibit 10.9  

REGISTRATION RIGHTS AGREEMENT  

        THIS REGISTRATION RIGHTS AGREEMENT (this "Agreement") made as of the 1st day of March 2004 by and between Camtek Ltd., an Israeli company (the "Company")
and Priortech Ltd., an Israeli company ("Priortech"). 

W
I T N E S S E T H: 

        WHEREAS,
Priortech, which owns approximately 78% of the issued and outstanding share capital of the Company, is a "controlling shareholder" of the Company as defined in the Israeli
Companies Law, 5759-1999 (the "Companies Law"); 

        WHEREAS,
The Company wishes to expand its shareholder base and the liquidity of its traded shares, and to provide an incentive for Priortech to limit sales of its Ordinary Shares (as
defined below) to offerings conducted in an organized manner; 

        WHEREAS,
is willing to sell some of its Ordinary Shares from time to time, but may be subject to certain restrictions with respect to such sales by it; and 

        WHEREAS,
Priortech and the Company desire to set forth certain matters regarding the registration rights of Priortech with respect to the Ordinary Shares held by it, subject to the
approval of the Company's shareholders. 

        NOW,
THEREFORE, in consideration of the mutual promises and covenants hereinafter set forth, the parties hereby agree as follows: 

        1.    Definitions.    As used herein, the following terms have the following meanings: 

"Demanding Holder" means a holder of Ordinary Shares (other than a Holder) whose exercise of a demand registration right is the cause of the relevant
registration. 

"Effective Date" means the date on which this Agreement shall be approved by the Company's shareholders as required by the Companies Law. 

"Holder" means any holder of outstanding Registrable Shares. 

"Initiating Holders" means Holders holding at least twenty-five percent (25%) of the Registrable Shares then outstanding and not previously
registered pursuant to this Agreement. 

"Ordinary Shares" means ordinary shares, nominal value NIS 0.01 per share, of the Company. 

"Register", "registered" and "registration" refer to a
registration effected by filing a registration statement in compliance with the Securities Act, or the equivalent actions under the laws of another jurisdiction. 

"Registrable Shares" means (i) all Ordinary Shares held by Priortech on the date hereof and (ii) any Ordinary Shares issued as (or
issuable upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the
Ordinary Shares described in clause (i) above; excluding, in all cases, however, any Registrable Shares transferred in a transaction in which
registration rights under this Agreement are not assigned in accordance with this Agreement; provided,  however, that Ordinary Shares or other securities
shall only be treated as Registrable Securities if and so long as they have not been sold to or
through a broker or dealer or underwriter in a public distribution or a public securities transaction. 

"SEC" means the U.S. Securities and Exchange Commission. 

"Securities Act" means the U.S. Securities Act of 1933, as amended. 

        2.    Incidental Registration.    

        2.1   If
(but without any obligation to do so) the Company at any time proposes to register any of its securities (other than (i) in a demand registration under
Section 3 of this Agreement, (ii) a registration relating solely to the sale of securities to participants in a Company benefit plan, (iii) a registration relating to a corporate
reorganization or other transaction described under Rule 145 of the Act, or (iv) a registration on any form that does not include substantially the same information as would be required
to be included in a registration statement covering the sale of the Registrable Shares), it shall give notice to the Holders of such intention. Upon the written request of any Holder given within
fourteen (14) days after receipt of any such notice, the Company shall include in such registration all of the Registrable Shares indicated in such request, so as to permit the disposition of
the shares so registered. 

        2.2   In
connection with any offering involving an underwriting of shares of the Company's share capital, the Company shall not be required under this Section 2 to
include any of the Holders' securities in such underwriting unless they accept the terms of the underwriting as agreed upon between the Company and the underwriters selected by it (or by other persons
entitled to select the underwriters) and enter into an underwriting agreement in customary form with an underwriter or underwriters selected by the Company and such other agreements as the
underwriter(s) may reasonably request. Notwithstanding any other provision of this Section 2, if the managing underwriter advises the Company in writing that marketing factors require a
limitation of the number of shares to be underwritten, then there shall be excluded from such registration and underwriting to the extent necessary to satisfy such limitation, first shares held by
shareholders other than the Demanding Holders; second, to the extent necessary, shares held by shareholders with incidental registration rights (on a pro rata basis to their respective holdings);
third, shares registered by the Demanding Holders (on a pro rata basis); and lastly, shares offered by the Company. 

        2.3   The
Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2 prior to the effectiveness of such registration
whether or not any Holder has elected to include securities in such registration. The expenses of such withdrawn registration shall be borne by the Company in accordance with Section 5 hereof. 

        3.    Demand Registration.    

        3.1   At
any time following the Effective Date, the Initiating Holders may request in writing that all or part of the Registrable Shares shall be registered under the
Securities Act. Any such demand must request the registration of shares with an anticipated aggregate offering price of at least fifteen million United States dollars ($15,000,000). Within thirty
(30) days after receipt of any such request, the Company shall give written notice of such request to any other Holders, if any, and shall include in such registration all Registrable Shares
held by all such Holders who wish to participate in such demand registration and provide the Company with written requests for inclusion therein within fourteen (14) days after the receipt of
the Company's notice. As promptly as practicable thereafter, subject to section 7.1 hereof, the Company shall effect the registration of all Registrable Shares as to which it has received
requests for registration under the Securities Act in the request for registration;
provided, however, that the Company shall not be required to effect any registration under this Section 3 within a period of ninety (90) days following the effective date of a previous
registration. 

        3.2   If
the Initiating Holders intend to distribute the Registrable Shares covered by their request by means of an underwriting, they shall so advise the Company as a part of
their request made pursuant to Section 3.1 above and the Company shall include such information in the written notice referred to in Section 3.1. In such event the right of any Holder to
include its Registrable Shares in such registration shall be conditioned upon such Holder's participation in such underwriting and the inclusion of such Holder's Registrable Shares in the underwriting
(unless otherwise mutually agreed by a majority in interest of the Initiating Holders and such Holder) and such other agreements as such underwriter(s) shall reasonably request. All Holders proposing
to 

distribute
their securities through such underwriting shall enter into an underwriting agreement in customary form with the underwriter. Notwithstanding any other provision of this Section 3,
if the managing underwriter advises the Company that marketing factors require a limitation of the number of shares to be underwritten, then the Company shall so advise all Holders of Registrable
Shares that would otherwise be underwritten pursuant hereto, and there shall be excluded from such registration and underwriting, to the extent necessary to satisfy such limitation, first shares held
by shareholders other than the Holders, then, to the extent necessary, shares which the Company may wish to register for its own account, and thereafter, to the extent necessary, Registrable Shares
held by the Holders (pro rata to the respective number of Registrable Shares held by the Holders participating in the registration). Any Registrable Shares excluded or withdrawn from such underwriting
shall be withdrawn from the registration. 

        3.3   The
Company shall not be required to effect a registration pursuant to this Section 3: 

        (a)   in
any particular jurisdiction in which the Company would be required to execute a general consent to service of process in effecting such registration, unless the
Company is already subject to service in such jurisdiction; or 

        (b)   during
the period starting with the date ninety (90) days following the effective date of, a Company-initiated registration subject to Section 2 above,
provided that the Company is actively employing in good faith all reasonable efforts to cause such registration statement to become effective; or 

        (c)   if
the Company shall furnish to Holders requesting a registration statement pursuant to this Section 3, a certificate signed by the Company's Chief Executive
Officer or Chairman of the Board stating that in the good faith judgment of the Board of Directors of the Company, it would be materially detrimental to the Company and its shareholders for such
registration statement to be effected at such time, in which event the Company shall have the right to defer such filing for a period of not more than one hundred twenty (120) days after
receipt of the request of the Initiating Holders,
provided that such right to delay a request shall be exercised by the Company not more than once in any twelve (12)-month period. 

        3.4   Notwithstanding
anything to the contrary herein, the Company shall not be required to effect more than three (3) registrations pursuant to this Section 3. 

        4.    Designation of Underwriter.    In the case of any registration of the Company's shares, the Company shall have
the right to designate the managing underwriter(s) in any underwritten offering, which underwriter or underwriters shall be reasonably acceptable to the Holders participating in an offering initiated
under this Section 3. 

        5.    Expenses.    All expenses incurred in connection with any registration under Section 2 or under
Section 3, excluding underwriter's discounts or commissions and excluding fees and expenses of counsel(s) for the selling Holders (unless the Holders shall use the same counsel as the Company),
shall be borne by the Company if the Company registers primary shares. If the Company does not register primary shares, then all expenses shall be borne by the selling Holders. 

        6.    Indemnities.    In the event of any registered offering of Registrable Shares pursuant to this Agreement; 

        6.1   The
Company will indemnify and hold harmless, to the fullest extent permitted by law, any Holder and any underwriter for such Holder, and each person, if any, who
controls the Holder or such underwriter, from and against any and all losses, damages, claims, liabilities, joint or several, costs and expenses (including any amounts paid in any settlement effected
with the Company's consent) to which the Holder or any such underwriter or controlling person may become subject under applicable law or otherwise, insofar as such losses, damages, claims, liabilities
(or actions or proceedings in respect thereof), costs or expenses arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in the
registration statement or included in the prospectus, as amended or supplemented, or (ii) the 

omission
or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances in which they are made, not
misleading, and the Company will reimburse the Holder, such underwriter and each such controlling person of the Holder or the underwriter, promptly upon demand, for any reasonable legal or any other
expenses incurred by them in connection with investigating, preparing to defend or defending against or appearing as a third-party witness in connection with such loss, claim, damage, liability,
action or proceeding; provided, however, that the Company will not be liable in any such case to the extent that any such loss, damage, liability, cost or expense arises out of or is based upon an
untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished in writing by a Holder, such underwriter or such controlling persons in
writing specifically for inclusion therein; provided, further, that the indemnity agreement contained in this subsection 6.1 shall not apply to amounts paid in settlement of any such claim, loss,
damage, liability or action if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect
regardless of any investigation made by or on behalf of the Holder, the underwriter or any controlling person of the Holder or the underwriter, and regardless of any sale in connection with such
offering by the Holder. Such indemnity shall survive the transfer of securities by a Holder. 

        6.2   Each
Holder participating in a registration hereunder will indemnify and hold harmless the Company, its officers and directors, any underwriter for the Company, and each
person, if any, who controls the Company or such underwriter, from and against any and all losses, damages, claims, liabilities, costs or expenses (including any amounts paid in any settlement
effected with the selling shareholder's consent) to which the Company or any such controlling person and/or any such underwriter may become subject under applicable law or otherwise, insofar as such
losses, damages, claims, liabilities (or actions or proceedings in respect thereof), costs or expenses arise out of or are based on (i) any untrue or alleged untrue statement of any material
fact contained in the registration statement or included in the prospectus, as amended or supplemented, or (ii) the omission or the alleged omission to state therein a material fact required to
be stated therein or necessary to make the statements therein, in the light of the circumstances in which they were made, not misleading, and each such Holder will reimburse the Company, any
underwriter and each such controlling person of the Company or any underwriter, promptly upon demand, for any reasonable legal or other expenses incurred by them in connection with investigating,
preparing to defend or defending against or appearing as a third-party witness in connection with such loss, claim, damage, liability, action or proceeding; in each case to the extent, but only to the
extent, that such untrue statement or alleged untrue statement or omission or alleged omission was so made in strict conformity with written information furnished by such Holder specifically for
inclusion therein. The foregoing indemnity agreement is subject to the condition that, insofar as it relates to any such untrue statement (or alleged untrue statement) or omission (or alleged
omission) made in the preliminary prospectus but eliminated
or remedied in the amended prospectus at the time the registration statement becomes effective or in the final prospectus, such indemnity agreement shall not inure to the benefit of (i) the
Company and (ii) any underwriter, if a copy of the final prospectus was not furnished to the person or entity asserting the loss, liability, claim or damage at or prior to the time such
furnishing is required by the Securities Act; provided, however, that the indemnity agreement contained in this subsection 6.2 shall not apply to amounts paid in settlement of any such claim, loss,
damage, liability or action if such settlement is effected without the consent of the Holders, as the case may be, which consent shall not be unreasonably withheld. In no event shall the liability of
a Holder exceed the gross proceeds from the offering received by such Holder. 

        6.3   Promptly
after receipt by an indemnified party pursuant to the provisions of Sections 6.1 or 6.2 of notice of the commencement of any action involving the subject matter
of the foregoing indemnity provisions, such indemnified party will, if a claim thereof is to be made against the indemnifying party pursuant to the provisions of said Section 6.1 or 6.2,
promptly notify the indemnifying party of the commencement thereof. The failure to deliver written notice to the 

indemnifying
party within a reasonable time of the commencement of any such action, if prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the
indemnified party under this Section 6. in case such action is brought against any indemnified party and it notifies the indemnifying party of the commencement thereof, the indemnifying party
shall have the right to participate in, and, to the extent that it may wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof with counsel reasonably
satisfactory to such indemnified party; provided, however, that if the defendants in any action include both the indemnified party and the indemnifying party and there is a conflict of interests which
would prevent counsel for the indemnifying party from also representing the indemnified party, the indemnified party or parties shall have the right to select one separate counsel to participate in
the defense of such action on behalf of such indemnified party or parties. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the
indemnifying party will not be liable to such indemnified party pursuant to the provisions of said Sections 6.1 or 6.2 for any legal or other expense subsequently incurred by such indemnified party in
connection with the defense thereof, unless (i) the indemnified party shall have employed counsel in accordance with the provision of the preceding sentence, (ii) the indemnifying party
shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after the notice of the commencement of the action and
within 15 days after written notice of the indemnified party's intention to employ separate counsel pursuant to the previous sentence, or (iii) the indemnifying party has authorized the
employment of counsel for the indemnified party at the expense of the indemnifying party. No indemnifying party will consent to entry of any judgment or enter into any settlement which does not
include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation. 

        6.4   If
recovery is not available under the foregoing indemnification provisions, for any reason other than as specified therein, the parties entitled to indemnification by
the terms thereof shall be entitled to contribution to liabilities and expenses as more fully set forth in an underwriting agreement to be executed in connection with such registration. In determining
the amount of contribution to which the respective parties are entitled, there shall be considered the parties' relative knowledge and access to information concerning the matter with respect to which
the claim was asserted, the opportunity to
correct and prevent any statement or omission, and any other equitable considerations appropriate under the circumstances. 

        6.5   Notwithstanding
the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection
with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 

        7.    Obligations of the Company.    Whenever required under this Agreement to effect the registration of any
Registrable Shares, the Company shall, as promptly as reasonably possible: 

        7.1   prepare
and file with the SEC a registration statement with respect to such Registrable Shares and use its reasonable commercial efforts to cause such registration
statement to become effective, and, upon the request of the holders of a majority of the Registrable Shares registered thereunder, keep such registration statement effective for a period of up to six
(6) months or, if sooner, until the distribution contemplated in the registration Statement has been completed; 

        7.2   prepare
and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection with such registration statement as
may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all Registrable Shares covered by such registration statement. 

        7.3   furnish
to the Holders such numbers of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements of the Securities Act, and such
other documents as 

they
may reasonably request in order to facilitate the disposition of Registrable Shares owned by them; 

        7.4   in
the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement with the managing underwriter(s) of such
offering, in usual and customary form as approved by the Company's Audit Committee and Board of Directors, and actively participate in the marketing efforts in cooperation with the managing
underwriter(s). Each Holder participating in such underwriting shall also enter into and perform its obligations under such an agreement; 

        7.5   notify
each holder of Registrable Shares covered by such registration statement at any time when a prospectus relating thereto is required to be delivered under the Act
of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an
untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then
existing, upon which notice and until the prospectus is amended or supplemented, the Holder shall not be entitled to offer or sell any shares pursuant to such prospectus; 

        7.6   cause
all Registrable Shares registered pursuant hereunder to be listed on each securities exchange on which similar securities issued by the Company are then listed;
and 

        7.7   provide
a transfer agent and registrar for all Registrable Shares registered pursuant hereunder and a CUSIP number for all such Registrable Shares, in each case not
later than the effective date of such registration. 

        8.    Information from Holder.    It shall be a condition precedent to the obligations of the Company to take any
action pursuant to this Agreement with respect to the Registrable Shares of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Shares
held by it, and the intended method of disposition of such securities as shall be required to effect the registration of such Holder's Registrable Shares. 

        9.    Delay of Registration.    No Holder shall have any right to obtain or seek an injunction restraining or
otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Agreement. 

        10.    Assignment of Registration Rights.    Seller may assign its rights to cause the Company to register Shares
pursuant to this Agreement only to (a) a transferee that, after such assignment or transfer, holds at least 1,000,000 of the Registrable Shares (subject to appropriate adjustment for stock
splits, stock dividends, combinations and other recapitalizations), or (b) any party who acquires ownership or control of Priortech through a merger, consolidation, sale of all or substantial
assets or similar business combination; provided that (i) no such rights may be assigned until the Company is given written notice by the transferor at the time of such assignment stating the
name and address of such transferee, and the securities with respect to which such registration rights are being assigned, and that any such transferee shall receive such assigned rights subject to
all the terms and conditions of this Agreement, including, without limitation, the provisions of this Section 10, (ii) transferee shall, as promptly as practicable and within at least
14 days after such transfer, furnish the Company with the transferee's written agreement to be bound by this Agreement, and (iii) no such assignment or assignments shall increase the
obligations of the Company hereunder. At the request of Priortech, the Company shall enter into a separate registration rights agreement with a permitted transferee of Registrable Shares on
substantially the terms of this Agreement, mutatis mutandis, provided that such separate agreement does not increase the obligations of the Company (in
the discretion of the Company's Audit Committee) and is approved by the Company's Audit Committee and Board of Directors. 

        11.    Lock-Up.    

        11.1 In
the event of an underwritten public offering by the Company of any securities of the Company, and upon the request of the managing underwriter of such offering from
security holders of the Company who hold securities of the Company in the amount that is equal or exceed the threshold set by such managing underwriter, and who include a Holder (or group of
affiliated Holders), such Holder hereby agrees that it will not sell any of the Registrable Shares for a period commencing on the date requested by such managing underwriter and ending 90 days
after the effective date of the offering and undertakes to (and cause any transferee to) execute a "lock-up" agreement in the form provided by such underwriter. 

        11.2 In
order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to the Registrable Shares of each Holder (and the
shares or securities of every other person subject to the foregoing restriction) until the end of the applicable period. For the avoidance of doubt, the underwriters, if any, in connection with a
registration hereunder, are intended third party beneficiaries of this Section 11 and shall have the right, power and authority to enforce the provisions hereof as though they were a party
hereto. 

        12.    Public Information.    The Company undertakes to make publicly available and available to the Holders pursuant
to Rule 144, such information as is necessary to enable the Holders to make sales of Registrable Shares pursuant to that Rule. The Company undertakes to comply with the current public
information requirements of Rule 144 and shall furnish thereafter to any Holder, upon request, a written statement executed by the Company as to the steps it has taken to so comply. 

        13.    Effectiveness and Termination of Registration Rights.    Notwithstanding anything to the contrary in this
Agreement, no Holder shall be entitled to exercise any right provided for in this Agreement (i) before the Effective Date and (ii) after ten (10) years following the date hereof,
or, as to any Holder, such earlier time at which all Registrable Shares held by such Holder (and any affiliate of the Holder with whom such Holder must aggregate its sales under Rule 144) can
be sold in any three (3)-month period without registration in compliance with Rule 144 of the Act. 

        14.    Miscellaneous    

        14.1    Effectiveness.    This Agreement is subject to the approval the Company's shareholders and shall be effective
only upon receipt of such approval in accordance with Israeli law. 

        14.2    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. 

        14.3    Governing Law; Jurisdiction.    This Agreement shall be governed by and construed according to the laws of the
State of Israel, without regard to the conflict of laws provisions thereof. Any dispute arising under or in relation to this Agreement shall be resolved in the competent court for Tel
Aviv-Jaffa district, and each of the parties hereby submits irrevocably to the jurisdiction of such court. 

        14.4    Successors and Assigns; Assignment.    Except as otherwise expressly limited herein, the provisions hereof
shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors, and administrators of the parties hereto. None of the rights, privileges, or obligations set forth in,
arising under, or created by this Agreement may be assigned or transferred without the prior consent in writing of each party to this Agreement, except as set forth in Section 10 hereof. 

        14.5    Entire Agreement; Amendment and Waiver.    This Agreement and the Schedules hereto constitute the full and
entire understanding and agreement between the parties with regard to the subject matters hereof and thereof. Any term of this Agreement may be amended and the observance of any term hereof may be
waived (either prospectively or retroactively and either generally or in a particular instance) only with the written consent of all of the parties to this Agreement. 

        14.6    Notices, etc.    Any notice or other communication required or permitted to be delivered to any party under
this Agreement shall be in writing and shall be deemed properly delivered, given and received when delivered (by hand, by registered mail, by courier or express delivery service or by facsimile) to
the address or facsimile telephone number set forth beneath the name of such party below (or to such other address or facsimile telephone number as such party shall have specified in a written notice
given to the other parties hereto): 

	if to Priortech:	 	Priortech Ltd.

P.O. Box 631

Migdal Ha'Emek 23105

Israel

Fax: 972-4-654-4322

Attention: Rafi Amit
	

if to the Company:	
 	

Camtek Ltd.

Ramat Gavriel Industrial Zone

P.O. Box 544

Migdal Ha'Emek 23150

Israel

Fax: 972-4-644-0523

Attention: Yotam Stern

or
such other address with respect to a party as such party shall notify each other party in writing as above provided. Any notice sent in accordance with this Section 14.5 shall be effective
(i) if mailed, five (5) business days after mailing, (ii) if sent by messenger, upon delivery, and (iii) if sent via telecopier, upon transmission and electronic
confirmation of receipt or (if transmitted and received on a non-business day) on the first business day following transmission and electronic confirmation of receipt. 

        14.7    Delays or Omissions.    No delay or omission to exercise any right, power, or remedy accruing to any party
upon any breach or default under this Agreement, shall be deemed a waiver of any other breach or default theretofore 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. 

        14.8    Severability.    If any provision of this Agreement is held by a court of competent jurisdiction to be
unenforceable under applicable law, then such provision shall be excluded from this Agreement and the remainder of this Agreement shall be interpreted as if such provision were so excluded and shall
be enforceable in accordance with its terms; provided, however, that in such event this Agreement shall be interpreted so as to give effect, to the greatest extent consistent with and permitted by
applicable law, to the meaning and intention of the excluded provision as determined by such court of competent jurisdiction. 

        14.9    Counterparts.    This Agreement may be executed in any number of counterparts, each of which shall be deemed
an original and enforceable against the parties actually executing such counterpart, and all of which together shall constitute one and the same instrument. 

[Remainder
of page intentionally left blank.] 

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

	 	 	CAMTEK LTD.
	

 	
 	
By:	

/s/  YOTAM STERN      
 Name: Yotam Stern

Title: Executive Vice President, Business & Strategy
	

 	
 	
PRIORTECH LTD.
	

 	
 	
By:	

/s/  RAFI AMIT      
 Name: Rafi Amit

Title: Chief Executive Officer

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