Document:

Exhibit 4.2

 

INVESTORS’ RIGHTS AGREEMENT

 

THIS INVESTORS’ RIGHTS
AGREEMENT (this “Agreement”), is made as of the 13th day of May, 2014,
by and among Foamix Ltd., an Israeli private company (the “Company”),
and each of the investors listed on Schedule A hereto, each of which is referred to in this Agreement as an “Investor”.

 

RECITALS

 

WHEREAS, the Company
and the Investors are parties to the Securities Purchase Agreement dated effective as of April 10, 2014 (the “Purchase
Agreement”); and

 

WHEREAS, in order
to induce the Company to enter into the Purchase Agreement and to induce the Investors to invest funds in the Company pursuant
to the Purchase Agreement, the Investors and the Company hereby agree that this Agreement shall govern the rights of the Investors
to cause the Company to register Company shares issued or issuable to the Investors, to receive certain information from the Company,
and certain other matters as set forth in this Agreement.

 

NOW, THEREFORE,
the parties hereby agree as follows:

 

1.             Definitions. For purposes of this Agreement:

 

1.1             
“Affiliate” means, with respect to any specified Person, any other Person who, directly or indirectly,
controls, is controlled by, or is under common control with such Person, including without limitation any general
partner, managing member, officer or director
of such Person or any venture capital fund now or hereafter existing that is controlled by one or more general partners
or managing members of, or shares the same management company with, such Person.

 

1.2             
“Amended AOA” shall have the meaning ascribed to it in the Purchase Agreement.

 

1.3             
“Damages” means any loss, damage, claim or liability (joint or several) to which a party hereto may become
subject under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, claim or liability
(or any action in respect thereof) arises out of or is based upon: (i) any untrue statement or alleged untrue statement of a material
fact contained in any registration statement of the Company, including any preliminary prospectus or final prospectus contained
therein or any amendments or supplements thereto; (ii) an omission or alleged omission to state therein a material fact required
to be stated therein, or necessary to make the statements therein not misleading; or (iii) any violation or alleged violation by
the indemnifying party (or
any of its agents or Affiliates) of the Securities Act, the Exchange Act, any state securities law, or any rule or
regulation promulgated under the Securities Act, the Exchange Act, or any state securities law.

 

1.4             
“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder.

 

1.5             
“Form S-1” means such form under
the Securities Act as in effect on the date hereof or any successor registration form under the Securities Act subsequently adopted
by the SEC, or any substantially equivalent registration form under the Securities Act
if required for an issuer incorporated outside the United States.

 

1.6             
“Form S-3” means such form under the Securities Act as in effect on the date hereof or any registration
form under the Securities Act subsequently adopted by the SEC that permits incorporation of substantial information by reference
to other documents filed by the Company with the SEC, or any substantially equivalent
registration form under the Securities Act if required for an issuer incorporated outside the
United States.

 

    	 

    	 

    

1.7             
“GAAP” means generally accepted accounting principles in the United States.

 

1.8             
“Holder” means any holder of Registrable Securities who is a party to this Agreement.

 

1.9             
“Immediate Family Member” means a child,
stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law,
son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including,
adoptive relationships, of a natural person referred to herein.

 

1.10         
“Initiating Holders” means, collectively, Holders who properly initiate a registration request under this
Agreement.

 

1.11         
“IPO” means the Company’s first underwritten public offering of its Ordinary
Shares under the Securities Act.

 

1.12         
“Majority Investors” shall have the meaning ascribed to it in the Amended AOA.

 

1.13         
“Ordinary Shares” means the Ordinary Shares of the Company, par value NIS 0.01 per share.

 

1.14         
“Person” means any individual, corporation, partnership, trust, limited
liability company, association or other entity.

 

1.15         
“Registrable Securities” means (i) the Ordinary Shares issuable or issued upon conversion of the Series
A Preferred Shares; (ii) any Ordinary Shares, or any Ordinary Shares issued
or issuable (directly or indirectly) upon conversion and/or
exercise of any other securities
of the Company, acquired by the Investors after the date hereof, including but not limited to the Warrant Shares; and (iii)
any Ordinary Shares issued as (or issuable upon the conversion or exercise of any warrant, right, or other security that is issued
as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the shares referenced in clauses
(i) and (ii) above.

 

1.16         
“Registrable Securities then outstanding” means the number of shares determined by adding the number
of outstanding Ordinary Shares that are Registrable Securities and the
number of Ordinary Shares issuable (directly or indirectly) pursuant to
then exercisable and/or convertible securities that are Registrable Securities.

 

1.17         
“Restricted Securities” means the securities of the Company required to be notated with the legend set
forth in Subsection  ‎2.12(b) hereof.

 

1.18         
“SEC” means the Securities and Exchange Commission.

 

1.19         
“SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act.

 

1.20         
“SEC Rule 145” means Rule 145 promulgated by the SEC under the Securities Act.

 

1.21         
“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder.

 

1.22         
“Selling Expenses” means all underwriting discounts, selling commissions, and stock transfer taxes applicable
to the sale of Registrable Securities, and fees and disbursements of counsel for any Holder, except for
the fees and disbursements of the Selling Holder Counsel borne and paid by the Company as provided in Subsection 
‎2.6.

 

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1.23         
“Series A Preferred Shares” means shares of the Company’s Series A Preferred Shares, par value NIS 0.01
per share.

 

1.24         
“Warrant Shares” means the Series A Preferred Shares issued or issuable upon exercise of the warrants granted
by the Company to certain of the Investors at the Closing, as detailed on the Capitalization Table attached as Exhibit B to the
Purchase Agreement (the “Warrants”), and shall include the Ordinary Shares into which such Warrant Shares may
be convertible at any time.

 

2.             Registration Rights. The Company covenants and agrees as follows:

 

2.1         
Demand Registration.

 

(a)               
Form S-1 Demand. If at any time after six (6) months after the effective
date of the registration statement for the IPO, the Company receives a request from the Majority Investors that the Company file
a Form S-1 registration statement with
respect to outstanding Registrable Securities of such Holders having an anticipated aggregate offering price of which, net
of Selling Expenses, would exceed $3 million, then the Company shall (x) within fourteen (14) days after the date such request
is given, give notice thereof (the “Demand Notice”) to all Holders other than the Initiating Holders; and (y)
as soon as practicable, and in any event within sixty (60) days after the date such request is given by the Initiating Holders,
file a Form S-1 registration statement under the Securities Act covering all Registrable
Securities that the Initiating Holders requested
to be registered and any additional Registrable Securities requested to be included in such
registration by any other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days of the
date the Demand Notice is given, and in each case, subject to the limitations of Subsections 2.1‎(c)
and ‎2.3.

 

(b)              
Form S-3 Demand. If at any time when it is eligible to use a Form S-3 registration
statement, the Company receives a request from the Majority Investors that the Company file a Form S-3 registration statement with
respect to outstanding Registrable Securities of such Holders having an anticipated aggregate offering price, net of Selling Expenses,
of at least $1 million, then the Company shall (i) within fourteen (14) days after the date such request is given, give a Demand
Notice to all Holders other than the Initiating Holders; and (ii) as soon as practicable, and in any event within sixty (60) days
after the date such request is given by the Initiating Holders, file a Form S-3 registration statement under the Securities Act
covering all Registrable Securities that the Initiating Holders requested
to be registered and any additional Registrable Securities requested to be included in such
registration by any other Holders, as specified by notice given by each such Holder to the Company within fifteen (15) days of
the date the Demand Notice is given, and in each case, subject to the limitations of Subsections
2.1‎(c) and ‎2.3.

 

(c)               
Notwithstanding the foregoing obligations, if the Company furnishes to Holders requesting a registration pursuant
to this Subsection ‎2.1 a certificate signed by the Company’s chief executive
officer stating that in the good faith judgment of the Company’s Board of Directors it would be materially detrimental to the Company
and its shareholders for such registration statement to either become effective or remain effective for as long as such registration
statement otherwise would be required to remain effective, because such action would (i) materially interfere with a significant
acquisition, corporate reorganization, or other similar transaction involving the Company; (ii) require premature disclosure of
material information that the Company has a bona fide business purpose for preserving as confidential; or (iii) render the Company
unable to comply with requirements under the Securities Act or Exchange Act, then the Company shall have the right to defer taking
action with respect to such filing, and any time periods with respect to filing or effectiveness thereof shall be tolled correspondingly,
for a period of not more than ninety (90) days after the request of the Initiating Holders is given; provided, however,
that the Company may not invoke this right more than once in any twelve (12) month period; and provided further that
the Company shall not register any securities for its own account or that of any other shareholder during such ninety (90) day
period.

 

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(d)              
The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Subsection
2.1‎(a) (i) during the period that is sixty (60) days before the Company’s good
faith estimate of the date of filing of, and ending on a date that is one hundred twenty (120) days after the effective date of,
a Company-initiated registration, provided that the Company is actively employing in good faith best efforts to cause such
registration statement to become effective; (ii) after the Company has effected two registrations
pursuant to Subsection 2.1‎(a);
or (iii) if the Initiating Holders propose to dispose of shares of Registrable Securities, all of which may be immediately registered
on Form S-3 pursuant to a request made pursuant to Subsection 2.1 ‎(b).
The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Subsection
2.1 ‎(b) (i) during
the period that is thirty (30) days before the Company’s good faith estimate of the date of filing of, and ending on a date that
is sixty (60) days after the effective date of, a Company-initiated registration, provided
that the Company is actively employing in good faith best efforts to cause such registration statement to become effective; or
(ii) if the Company has effected two registrations pursuant to Subsection 2.1
‎(b) within the twelve (12) month period
immediately preceding the date of such request. A registration shall not be counted as “effected” for purposes
of this Subsection 2.1‎(d) until such time as the applicable registration statement
has been declared effective by the SEC, unless the Initiating Holders withdraw their request for such registration, elect not to
pay the registration expenses therefor, and forfeit their right to one demand registration statement
pursuant to Subsection  ‎2.6,
in which case such withdrawn registration statement shall be counted as “effected” for purposes of this Subsection
2.1‎(d).

 

2.2         
Company Registration. If the Company proposes to register (including, for this purpose, the IPO, and any registration
effected by the Company for shareholders other than the Holders) any of its Ordinary Shares under the Securities Act in connection
with the public offering of such securities, the Company shall, at such time, promptly give each Holder notice of such registration.
Upon the request of each Holder given within twenty (20) days after such notice is given by the Company, the Company shall, subject
to the provisions of Subsection ‎2.3, cause to be registered all of the Registrable
Securities that each such Holder has requested to be included in such registration. The Company shall have the right to terminate
or withdraw any registration initiated by it under this Subsection ‎2.2 before
the effective date of such registration, whether or not any Holder has elected to include Registrable Securities in such registration.
The expenses (other than Selling Expenses) of such withdrawn registration shall be borne by the Company in accordance with Subsection
‎2.6.

 

2.3         
Underwriting Requirements.

 

(a)               
If, pursuant to Subsection  ‎2.1,
the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting,
they shall so advise the Company as a part of their request made pursuant to Subsection  ‎2.1,
and the Company shall include such information in the Demand Notice. The underwriter(s)
will be selected by the Initiating Holders, subject to the reasonable approval of the Company. In such event, the right of any
Holder to include such Holder’s Registrable Securities in such registration shall be conditioned upon such Holder’s participation
in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein.
All Holders proposing to distribute their securities through such underwriting shall (together with the Company as provided in
Subsection  ‎2.4(e)) enter into an underwriting agreement in customary
form with the underwriter(s) selected for such underwriting. Notwithstanding any other provision of this Subsection  ‎2.3,
if the managing underwriter advises the Initiating Holders in writing that marketing factors require a limitation on the number
of shares to be underwritten, then the Initiating Holders shall so advise all Holders of Registrable Securities that otherwise
would be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall
be allocated among such Holders of Registrable Securities, including the Initiating Holders,
in proportion (as nearly as practicable) to the number of Registrable Securities owned by each Holder
or in such other proportion as shall mutually be agreed to by all such selling Holders; provided, however,
that the number of Registrable Securities held by the Holders to be included in such underwriting shall not be reduced unless all
other securities are first entirely excluded from the underwriting.

 

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(b)              
In connection with any offering involving an underwriting of shares of the Company’s capital stock pursuant to Subsection
‎2.2, the Company shall not be required to include any of the Holders’ Registrable
Securities in such underwriting unless the Holders accept the terms of the underwriting as agreed upon between the Company and
its underwriters, and then only in such quantity as the underwriters in their sole discretion determine will not jeopardize the
success of the offering by the Company. If the total number of securities, including Registrable Securities, requested by shareholders
to be included in such offering exceeds the number of securities to be sold (other than by the Company) that the underwriters in
their reasonable discretion determine is compatible with the success of the offering, then the Company shall be required to include
in the offering only that number of such securities, including Registrable Securities, which the underwriters and the Company in
their sole discretion determine will not jeopardize the success of the offering. If the underwriters determine that less than all
of the Registrable Securities requested to be registered can be included in such offering, then the Registrable Securities that
are included in such offering shall be allocated among the selling Holders in
proportion (as nearly as practicable to) the number of Registrable Securities owned
by each selling Holder or in such other proportions
as shall mutually be agreed to by all such selling Holders. Notwithstanding the foregoing,
in no event shall (i) the number of Registrable Securities included in the offering be reduced
unless all other securities (other than securities to be sold by the Company) are first entirely excluded from the offering, or
(ii) the number of Registrable Securities included in the offering be reduced below thirty percent (30%) of the total number
of securities included in such offering, unless such offering is the IPO, in which case the selling Holders may be excluded further
if the underwriters make the determination described above and no other shareholders’ securities are included in such offering.
For purposes of the provision in this Subsection 2.3 ‎(b) concerning
apportionment, for any selling Holder that is a partnership, limited liability company,
or corporation, the partners, members, retired partners, retired members, stockholders, and Affiliates of such Holder, or the estates
and Immediate Family Members of any such partners, retired partners, members, and retired members and any trusts for the benefit
of any of the foregoing Persons, shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect
to such “selling Holder” shall be based upon the aggregate number of Registrable Securities owned by all Persons included
in such “selling Holder,” as defined in this sentence.

 

(c)               
For purposes of Subsection  ‎2.1,
a registration shall not be counted as “effected” if, as a result of an exercise of the underwriter’s cutback provisions
in Subsection 2.3 ‎(a), fewer than fifty percent (50%) of the total
number of Registrable Securities that Holders have requested to be included in such registration statement are actually included.

 

2.4         
Obligations of the Company. Whenever required under this Section ‎2
to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible:

 

(a)               
prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its best efforts
to cause such registration statement to become effective and, upon the request of the Holders of a majority of the Registrable
Securities registered thereunder, keep such registration statement effective for a period of up to one hundred twenty (120) days
or, if earlier, until the distribution contemplated in the registration statement has been completed; provided, however,
that (i) such one hundred twenty (120) day period shall be extended for a period of time equal to the period the Holder refrains,
at the request of an underwriter of Ordinary Shares (or other securities) of the Company, from selling any securities included
in such registration, and (ii) in the case of any registration of Registrable Securities on Form S-3 that are intended to be offered
on a continuous or delayed basis, subject to compliance with applicable SEC rules, such one hundred twenty (120) day period shall
be extended, if necessary, to keep the registration statement effective until all such Registrable Securities are sold;

 

(b)              
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 Securities Act in order to enable the disposition
of all securities covered by such registration statement;

 

(c)               
furnish to the selling Holders such numbers of copies of a prospectus, including a preliminary prospectus, as required by
the Securities Act, and such other documents as the Holders may reasonably request in order to facilitate their disposition of
their Registrable Securities;

 

(d)              
use its best efforts to register and qualify the securities covered by such registration statement under such other securities
or blue-sky laws of such jurisdictions as shall be reasonably requested by the selling Holders; provided that the Company
shall not be required to qualify to do business or to file a general consent to service of process in any such states or jurisdictions,
unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act;

 

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(e)               
in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement,
in usual and customary form, with the underwriter(s) of such offering;

 

(f)                
use its best efforts to cause all such Registrable Securities covered by such registration statement to be listed on a national
securities exchange or trading system and each securities exchange and trading system (if any) on which similar securities issued
by the Company are then listed;

 

(g)               
provide a transfer agent and registrar for all Registrable Securities registered pursuant to this Agreement and provide
a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration;

 

(h)               
promptly make available for inspection by the selling Holders, any underwriters
participating in any disposition pursuant to such registration statement, and any attorney or accountant or other agent retained
by any such underwriter or selected by the selling Holders, all financial and other records, pertinent corporate documents, and
properties of the Company, and cause the Company’s officers, directors, employees, and independent accountants to supply all information
reasonably requested by any such seller, underwriter, attorney, accountant, or agent, in each
case, as necessary or advisable to verify the accuracy of the information in such registration statement and to conduct appropriate
due diligence in connection therewith;

 

(i)                 
notify each selling Holder, promptly after the Company receives notice thereof, of the time when such registration statement
has been declared effective or a supplement to any prospectus forming a part of such registration statement has been filed; and

 

(j)                
after such registration statement becomes effective, notify each selling Holder of any request by the SEC that the Company
amend or supplement such registration statement or prospectus.

 

2.5         
Furnish Information. It shall be a condition precedent to the obligations of the Company to take any action pursuant
to this Section ‎2 with respect to the Registrable Securities of any selling
Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it,
and the intended method of disposition of such securities as is reasonably required to effect the registration of such Holder’s
Registrable Securities.

 

2.6         
Expenses of Registration. All expenses (other than Selling Expenses) incurred in connection with registrations, filings,
or qualifications pursuant to Section ‎2, including all registration, filing,
and qualification fees; printers’ and accounting fees; fees and disbursements of counsel for the Company; and the reasonable fees
and disbursements of one counsel for the selling Holders (“Selling Holder Counsel”),
shall be borne and paid by the Company; provided, however, that the Company shall not be required to pay for any
expenses of any registration proceeding begun pursuant to Subsection ‎2.1 if
the registration request is subsequently withdrawn at the request of the Majority Investors (in which case all selling Holders
shall bear such expenses pro rata based upon the number of Registrable Securities that were to be included in the withdrawn registration),
unless the Majority Investors agree to forfeit their right to one registration pursuant to Subsections ‎2.1(a)
or ‎2.1(b), as the case may be;
provided further that if, at the time of such withdrawal, the Holders shall have learned of a material adverse change
in the condition, business, or prospects of the Company from that known to the Holders at the time of their request and have withdrawn
the request with reasonable promptness after learning of such information, then the Holders shall not be required to pay any of
such expenses and shall not forfeit their right to one registration pursuant to Subsections ‎2.1(a)
or ‎2.1(b). All Selling Expenses relating to Registrable Securities registered
pursuant to this Section ‎2 shall be borne and paid by the Holders pro rata on
the basis of the number of Registrable Securities registered on their behalf.

 

2.7         
Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying
any registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation
or implementation of this Section 2.

 

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2.8         
Indemnification. If any Registrable Securities are included in a registration statement under this Section ‎2:

 

(a)               
To the extent permitted by law, the Company will indemnify and hold harmless each selling Holder, and the partners, members,
officers, directors, and shareholders of each such Holder; legal counsel and accountants for each such Holder; any underwriter
(as defined in the Securities Act) for each such Holder; and each Person, if any, who controls such Holder or underwriter within
the meaning of the Securities Act or the Exchange Act, against any Damages, and the Company will pay to each such Holder, underwriter,
controlling Person, or other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating
or defending any claim or proceeding from which Damages may result, as such expenses are
incurred; provided, however, that the indemnity agreement contained in this Subsection 2.8 ‎(a)
shall not apply to amounts paid in settlement of any such claim or proceeding if such
settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the Company
be liable for any Damages to the extent that they arise out of or are based upon actions or omissions made in reliance upon and
in conformity with written information furnished by or on behalf of any such Holder, underwriter, controlling Person, or other
aforementioned Person expressly for use in connection with such registration.

 

(b)              
To the extent permitted by law, each selling Holder, severally and not jointly, will indemnify and hold harmless the Company,
and each of its directors, each of its officers who has signed the registration statement, each Person (if any), who controls the
Company within the meaning of the Securities Act, legal counsel and accountants for the Company, any underwriter (as defined in
the Securities Act), any other Holder selling securities in such registration statement, and any controlling Person of any such
underwriter or other Holder, against any Damages, in each case only to the extent that such Damages arise out of or are based upon
actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of such selling
Holder expressly for use in connection with such registration; and each such selling Holder will pay to the Company and each other
aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any
claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that
the indemnity agreement contained in this Subsection 2.8 ‎(b) shall
not apply to amounts paid in settlement of any such claim or proceeding if such settlement
is effected without the consent of the Holder, which consent shall not be unreasonably withheld; and provided further
that in no event shall the aggregate amounts payable by any Holder by way of indemnity or contribution under Subsections 2.8
‎(b) and 2.8‎(d) exceed
the proceeds from the offering received by such Holder (net of any Selling Expenses
paid by such Holder), except in the case of fraud or willful misconduct by such Holder.

 

(c)               
Promptly after receipt by an indemnified party under this Subsection  ‎2.8
of notice of the commencement of any action (including any governmental action) for which a party may be entitled to indemnification
hereunder, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Subsection
 ‎2.8, give the indemnifying
party notice of the commencement thereof. The indemnifying party shall have the right to participate in such action and, to the
extent the indemnifying party so desires, participate jointly with any other indemnifying party to which notice has been given,
and to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified
party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the right
to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified
party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between
such indemnified party and any other party represented by such counsel in such action. The failure to give notice to the indemnifying
party within a reasonable time of the commencement of any such action shall relieve such indemnifying party of any liability to
the indemnified party under this Subsection  ‎2.8,
to the extent that such failure materially prejudices the indemnifying party’s ability to defend such action. The failure to give
notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than
under this Subsection  ‎2.8.

 

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(d)              
To provide for just and equitable contribution to joint liability under the Securities Act in any case in which either:
(i) any party otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Subsection
 ‎2.8 but it is judicially determined (by the entry of a final judgment
or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal)
that such indemnification may not be enforced in such case, notwithstanding the fact that this Subsection  ‎2.8
provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of any party
hereto for which indemnification is provided under this Subsection  ‎2.8,
then, and in each such case, such parties will contribute to the aggregate losses, claims, damages, liabilities, or expenses to
which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of
each of the indemnifying party and the indemnified party in connection with the statements,
omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant
equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference
to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission
of a material fact, relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative
intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided, however,
that, in any such case (x) no Holder will be required to contribute any amount in excess of the public offering price of all such
Registrable Securities offered and sold by such Holder pursuant to such registration statement, and (y) no Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person
who was not guilty of such fraudulent misrepresentation; and provided further that in no event shall a Holder’s liability
pursuant to this Subsection 2.8 ‎(d), when combined with the amounts
paid or payable by such Holder pursuant to Subsection 2.8 ‎(b),
exceed the proceeds from the offering received by such Holder (net of any Selling Expenses
paid by such Holder), except in the case of willful
misconduct or fraud by such Holder.

 

(e)               
Unless otherwise superseded by an underwriting agreement entered into in connection with the underwritten public offering,
the obligations of the Company and Holders under this Subsection  ‎2.8
shall survive the completion of any offering of Registrable Securities in a registration under this Section ‎2,
and otherwise shall survive the termination of this Agreement.

 

2.9         
Reports Under Exchange Act. With a view to making available to the Holders the benefits of SEC Rule 144 and any other
rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration
or pursuant to a registration on Form S-3, the Company shall:

 

(a)               
make and keep available adequate current public information, as those terms are
understood and defined in SEC Rule 144, at all times after the effective date of the registration statement filed by the Company
for the IPO;

 

(b)              
use best efforts to file with the SEC in a timely manner all reports and other documents required of the Company under the
Securities Act and the Exchange Act (at any time after the Company has become subject to such reporting requirements); and

 

(c)               
furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) to
the extent accurate, a written statement by the Company that it has complied with the reporting requirements of SEC Rule
144 (at any time after ninety (90) days after the effective date of the registration statement filed by the Company for the IPO),
the Securities Act, and the Exchange Act (at any time after the Company has become subject to such reporting requirements), or
that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after the Company so qualifies);
and (ii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC that
permits the selling of any such securities without registration (at any time after the Company has become subject to the reporting
requirements under the Exchange Act) or pursuant to Form S-3 (at any time after the Company so qualifies to use such form).

 

2.10         
Limitations on Subsequent Registration Rights. From and after the date of this Agreement, the Company shall not,
without the prior written consent of the Majority Investors, enter into any agreement with any holder or prospective holder of
any securities of the Company that (i) would allow such holder or prospective holder (i) to include such securities in any registration
unless, under the terms of such agreement, such holder or prospective holder may include such securities in any such registration
only to the extent that the inclusion of such securities will not reduce the number of the Registrable Securities of the Holders
that are included; or (ii) allow such holder or prospective holder to initiate a demand for registration of any securities held
by such holder or prospective holder; provided that this limitation shall not apply to any additional
Investor who becomes a party to this Agreement in accordance with Subsection 4.9.

 

    	8

    	 

    

2.11         
“Market Stand-off” Agreement. Each Holder hereby agrees that such Holder
shall not sell or otherwise transfer or dispose of any Ordinary Shares (or other securities) of the Company held by such Holder
(other than those included in the registration) for a period specified by the Company or the representative of the underwriters
of Ordinary Shares (or other securities) of the Company not to exceed one hundred eighty (180) days following the effective date
of the registration statement of the Company filed under the Securities Act with respect to the IPO, provided that:

 

(a)such agreement
shall apply only to the Company’s IPO;

 

(b)all officers
and directors of the Company, all shareholders of the Company holding at least 1% of the outstanding share capital and holders
of registration rights enter into similar agreements; and

 

(c)any discretionary
waiver, release or termination of the foregoing restriction shall apply to all holders of share capital of the Company, on a pro
rata basis.

 

The foregoing provisions
of this Subsection  ‎2.11 shall apply only to the IPO, and
shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, or
the transfer of any shares to any trust for the direct or indirect benefit of the Holder or the immediate family of the Holder,
provided that the trustee of the trust agrees to be bound in writing by the restrictions
set forth herein, and provided further
that any such transfer shall not involve a disposition for value. The underwriters in connection with such
registration are intended third-party beneficiaries of this Subsection  ‎2.11
and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Each Holder
further agrees to execute such agreements as may be reasonably requested by the underwriters in connection
with such registration that are consistent with this Subsection  ‎2.11
or that are necessary to give further effect thereto.

 

2.12         
Restrictions on Transfer.

 

(a)               
The Series A Preferred Shares and the Registrable Securities shall not be sold, pledged, or otherwise transferred, and the
Company shall not recognize and shall issue stop-transfer instructions to its transfer agent with respect to any such sale, pledge,
or transfer, except upon the conditions specified in this Agreement, which conditions are intended to ensure compliance with the
provisions of the Securities Act. A transferring Holder will cause any proposed purchaser, pledgee, or transferee of the Series
A Preferred Shares and the Registrable Securities held by such Holder to agree to take and hold such securities subject to the
provisions and upon the conditions specified in this Agreement.

 

(b)              
Each certificate, instrument, or book entry representing (i) the Series A Preferred
Shares, (ii) the Registrable Securities, and (iii) any other securities issued in respect of the securities referenced in clauses
(i) and (ii), upon any share split, share dividend, recapitalization, merger, consolidation, or similar event, shall (unless otherwise
permitted by the provisions of Subsection 2.12 ‎(c)) be notated
with a legend substantially in the following form:

 

THE SECURITIES
REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933. SUCH SHARES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID
EXEMPTION FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT.

 

THE SECURITIES
REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT
BETWEEN THE COMPANY AND THE SHAREHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.

 

The Holders consent to
the Company making a notation in its records and giving instructions to any transfer agent of the Restricted Securities in order
to implement the restrictions on transfer set forth in this Subsection  ‎2.12.

 

    	9

    	 

    

(c)               
The holder of such Restricted Securities, by acceptance of ownership thereof, agrees to comply in all respects with the
provisions of this Section ‎2. Before any proposed sale, pledge, or transfer
of any Restricted Securities, unless there is in effect a registration statement under the Securities Act covering the proposed
transaction, the Holder thereof shall give notice to the Company of such Holder’s intention to effect such sale, pledge, or transfer.
Each such notice shall describe the manner and circumstances of the proposed sale, pledge, or transfer in sufficient detail and,
if reasonably requested by the Company, shall be accompanied at such Holder’s expense by either (i) a written opinion of legal
counsel who shall, and whose legal opinion shall, be reasonably satisfactory to the Company, addressed to the Company, to the effect
that the proposed transaction may be effected without registration under the Securities Act; (ii) a “no action” letter
from the SEC to the effect that the proposed sale, pledge, or transfer of such Restricted Securities without registration will
not result in a recommendation by the staff of the SEC that action be taken with respect thereto; or (iii) any other evidence reasonably
satisfactory to counsel to the Company to the effect that the proposed sale, pledge, or transfer of the Restricted Securities may
be effected without registration under the Securities Act, whereupon the Holder of such Restricted Securities shall be entitled
to sell, pledge, or transfer such Restricted Securities in accordance with the terms of the notice given by the Holder to the Company.
The Company will not require such a legal opinion or “no action” letter (x) in any transaction in compliance with SEC
Rule 144; or (y) in any transaction in which such Holder distributes Restricted Securities to an Affiliate of such Holder
for no consideration; provided that each transferee agrees in writing to be subject to the terms of this Subsection 
‎2.12. Each certificate, instrument,
or book entry representing the Restricted Securities transferred as above provided shall be notated with, except if such
transfer is made pursuant to SEC Rule 144, the appropriate restrictive legend set forth
in Subsection 2.12 ‎(b), except that such certificate instrument,
or book entry shall not be notated with such restrictive legend if, in the opinion of counsel for such Holder and the Company,
such legend is not required in order to establish compliance with any provisions of the Securities Act.

 

2.13         
Foreign Jurisdiction.If the IPO, or any other registration of Company shares, is effected in a jurisdiction other
than the United States, the provisions hereof shall apply in respect thereto, and to the laws of such jurisdiction, mutatis
mutandis.

 

2.14         
Termination of Registration Rights. The right of any Holder to request registration or inclusion of Registrable Securities
in any registration pursuant to Subsections  ‎2.1 or ‎2.2
shall terminate upon such time as Rule 144 or another similar exemption under the Securities
Act is available for the sale of all of such Holder’s shares without limitation
during a three-month period without registration.

 

3.             Information Rights.

 

3.1         
Delivery of Financial Statements. The Company shall deliver to each Investor:  

 

(a)               
as soon as practicable, but in any event within ninety (90) days after the end of each fiscal year of the Company (i) a
balance sheet as of the end of such year, (ii) statements of income and of cash flows for such year, and a comparison between (x)
the actual amounts as of and for such fiscal year and (y) the comparable amounts for the prior year and as included in the Budget
(as defined below) for such year, with an explanation of any material differences between such amounts and a schedule as to the
sources and applications of funds for such year, and (iii) a statement of shareholders’ equity as of the end of such year,
all such financial statements audited and certified by independent public accountants of internationally
recognized standing selected by the Company;

 

(b)              
as soon as practicable, but in any event within forty-five (45) days after the end of each of the first three (3) quarters
of each fiscal year of the Company, unaudited but reviewed statements of income and cash flows for such fiscal quarter, and an
unaudited balance sheet and a statement of shareholders’ equity as of the end of such fiscal quarter,
all prepared in accordance with GAAP (except that such financial statements may (i) be subject to normal year-end audit adjustments;
and (ii) not contain all notes thereto that may be required in accordance with GAAP);

 

(c)               
as soon as practicable, but in any event within forty-five (45) days after the end of each of the first three (3) quarters
of each fiscal year of the Company, a statement showing the number of shares of each class and series of capital stock and securities
convertible into or exercisable for share capital outstanding at the end of the period, the Ordinary Shares issuable upon conversion
or exercise of any outstanding securities convertible or exercisable for Ordinary Shares and the exchange ratio or exercise price
applicable thereto, and the number of shares of issued stock options and stock options not yet issued but reserved for issuance,
if any, all in sufficient detail as to permit the Investors to calculate their respective percentage equity ownership in the Company,
and certified by the chief financial officer or chief executive officer of the Company as being true, complete, and correct;

 

    	10

    	 

    

(d)              
as soon as practicable, but in any event thirty (30) days before the end of each fiscal year, a budget and business plan
for the next fiscal year (collectively, the “Budget”), approved by the Board
of Directors and prepared on a monthly basis, including balance sheets, income statements, and statements of cash flow for
such months and, promptly after prepared, any other budgets or revised budgets prepared by the Company;

 

(e)               
with respect to the financial statements called for in Subsection 3.1‎(a)
and Subsection 3.1‎(b), an instrument executed by the chief financial officer
and chief executive officer of the Company certifying that such financial statements were prepared in accordance with GAAP consistently
applied with prior practice for earlier periods (except as otherwise set forth in Subsection 3.1‎(b))
and fairly present the financial condition of the Company and its results of operation for the periods specified therein; and

 

(f)                
such other information relating to the financial condition, business, prospects, or corporate affairs of the Company as
any such Investor may from time to time reasonably request.

 

If, for any period, the
Company has any subsidiary whose accounts are consolidated with those of the Company, then in respect of such period the financial
statements delivered pursuant to the foregoing sections shall be the consolidated and consolidating financial statements of the
Company and all such consolidated subsidiaries.

 

Notwithstanding anything
else in this Subsection ‎3.1 to the contrary, the Company may cease providing
the information set forth in this Subsection ‎3.1 during the period starting
with the date thirty (30) days before the Company’s good-faith estimate of the date of
filing of a registration statement if it reasonably concludes it must do so to comply with the
SEC rules applicable to such registration statement and related offering; provided that the Company’s covenants under
this Subsection ‎3.1 shall be reinstated at such time as the Company is no longer
actively employing its best efforts to cause such registration statement to become effective.

 

3.2         
Inspection. The Company shall permit the Lead Investor (as such term is defined in the Purchase Agreement), at the
Lead Investor’s expense, to visit and inspect the Company’s properties; examine its books of account and records; and discuss the
Company’s affairs, finances, and accounts with its officers, during normal business hours of the Company as may be reasonably requested
by the Investor.

 

3.3         
Termination of Information. The covenants set forth in Subsection ‎3.1
and Subsection ‎3.2 shall terminate and be of no further force or effect subject
to and immediately before the consummation of the IPO.

 

3.4         
Confidentiality. Each Investor agrees that such Investor will keep confidential and will not disclose, divulge, or
use for any purpose (other than to monitor its investment in the Company) any confidential information obtained from the Company
pursuant to the terms of this Agreement, unless such confidential information (a) is known or becomes known to the public in general
(other than as a result of a breach of this Subsection ‎3.4 by such Investor), (b) is or has been independently developed
or conceived by the Investor without use of the Company’s confidential information, or (c) is or has been made known or disclosed
to the Investor by a third party without any limitation on the use and/or disclosure thereof which would be violated by such disclosure
and without a breach of any obligation of confidentiality such third party may have to the Company; provided, however,
that an Investor may disclose confidential information (i) to its attorneys, accountants, consultants, and other professionals
to the extent necessary to obtain their services in connection with monitoring its investment in the Company; (ii) to any prospective
purchaser of any Registrable Securities from such Investor, if such prospective purchaser agrees to be bound by the provisions
of this Subsection 3.4; (iii) to any existing or prospective Affiliate,
partner, member, stockholder, or wholly-owned subsidiary of such Investor in the ordinary course of business, provided
that such Investor informs such Person that such information is confidential and directs such Person to maintain the confidentiality
of such information; or (iv) as may otherwise be required by law, provided that the Investor promptly notifies the
Company of such disclosure and takes reasonable steps to minimize the extent of any such required disclosure.

 

    	11

    	 

    

4.             Miscellaneous.

 

4.1         
Successors and Assigns. The rights under this Agreement may be
assigned (but only with all related obligations) by
a Holder to a transferee of Registrable Securities that (i) is an Affiliate or other Permitted
Transferee (as defined in the Amended AOA) of a Holder; (ii) is a Holder’s Immediate Family Member or trust for the benefit of
an individual Holder or one or more of such Holder’s Immediate Family Members or Permitted Transferees; or (iii) after such transfer,
holds at least 200,000 shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations,
and other recapitalizations); provided, however,
that (x) the Company is, within thirty days after such transfer, furnished with written notice of the name and address of such
transferee and the Registrable Securities with respect to which such rights are
being transferred; and (y) such transferee agrees in a written instrument delivered to
the Company to be bound by and subject to the terms and
conditions of this Agreement, including the provisions of Subsection
‎2.11. For the purposes of determining the number of shares of Registrable Securities
held by a transferee, the holdings of a transferee (1) that is an Affiliate or stockholder of a Holder; (2) who is a Holder’s Immediate
Family Member; or (3) that is a trust for the benefit of an individual Holder or such Holder’s Immediate Family Member shall be
aggregated together and with those of the transferring Holder. The terms and conditions of this Agreement inure to the benefit
of and are binding upon the respective successors and permitted assignees of the parties. Nothing in this Agreement, express or
implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted assignees
any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided herein.

 

4.2         
Governing Law. This Agreement shall be exclusively governed and construed in accordance with the laws of the State
of Israel, without regard to conflicts of laws provisions thereof.

 

4.3         
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.

 

4.4         
Titles and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference
only and are not to be considered in construing this Agreement.

 

4.5         
Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon
personal delivery to the party to be notified; (b) when sent by facsimile with confirmation of transmission if sent during
normal business hours of the recipient, if not, then on the next business day; (c) ten (10) days after having been sent by
registered or certified mail, return receipt requested, postage prepaid; or (d) two business days after deposit with an internationally-recognized
overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent out as
set forth in the Purchase Agreement, or to the addresses provided by a party hereunder.

 

4.6         
Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement
may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent
of the Company and the Majority Investors. No waivers of or exceptions to any term, condition, or provision of this Agreement,
in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term, condition,
or provision.

 

4.7         
Severability. In the event one or more of the provisions of this Agreement should, for any reason, be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provisions
of this Agreement, which shall remain enforceable, to the fullest extent permitted by law. Furthermore, to the fullest extent possible,
the provisions of this Agreement (including, without limitation, the portion of this Agreement containing any provision held to
be invalid, illegal or unenforceable that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect
to the intent manifested by the provision held invalid, illegal or unenforceable.

 

    	12

    	 

    

4.8         
Aggregation of Shares. All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together
for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such
rights as among themselves in any manner they deem appropriate.

 

4.9         
Additional Investors. Subject to Section 2.10, if the Company issues additional Series A Preferred Shares after the
date hereof, any purchaser of such Series A Preferred Shares may become a party to this Agreement by executing and delivering an
additional counterpart signature page to this Agreement, and thereafter shall be deemed an “Investor” hereunder.

 

4.10         
Entire Agreement. This Agreement (including any Schedules and Exhibits hereto) constitutes the full and entire understanding
and agreement among the parties with respect to the subject matter hereof, and any other
written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled.

 

4.11         
Jurisdiction. The competent courts in Jerusalem shall have sole and exclusive jurisdiction over all matters relating
to this Agreement. 

 

4.12         
Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party under this
Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of
such nonbreaching or nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any such breach or default,
or to any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver
of any other breach or default theretofore or thereafter occurring. All remedies, whether under this Agreement or by law or otherwise
afforded to any party, shall be cumulative and not alternative.

 

[Remainder of Page Intentionally Left Blank]

 

    	13

    	 

    

IN WITNESS WHEREOF, the
parties have executed this Investors’ Rights Agreement as of the date first written above.

 

	 	Foamix Ltd.
	 	 	 
	 	By:	/s/ Dov Tamarkin
	 	 	 
	 	Name:	Dov Tamarkin
	 	 	 
	 	Title:	CEO

 

 

	 	INVESTORS: Schnalder Family (2010) Trust
	 	 	 
	 	By:	/s/ Benny Schnalder
	 	 	 
	 	Name:	Benny Schnalder
	 	 	 
	 	Title:	Director

 

 

	 	INVESTORS: G-Ten Partners LLC
	 	 	 
	 	By:	/s/ Jaime Hartman
	 	 	 
	 	Name:	Jaime Hartman
	 	 	 
	 	Title:	Manager

 

Signature
Page to Investors’ Rights Agreement

 

    	 

    	 

    

IN WITNESS WHEREOF, the
parties have executed this Investors’ Rights Agreement as of the date first written above.

 

	 	INVESTORS:
	 	 	 
	 	By:	/s/ Gary Leibler
	 	 	 
	 	Name:	Gary Leibler

 

 

	 	INVESTORS:
	 	 	 
	 	By:	/s/ Roni Levy
	 	 	 
	 	Name:	Roni Levy

 

 

	 	INVESTORS: Genesis Asset Opportunity Fund
	 	 	 
	 	By:	/s/ Jaime Hartman
	 	 	 
	 	Name:	Jaime Hartman
	 	 	 
	 	Title:	Managing Member & its General Partner

 

Signature
Page to Investors’ Rights Agreement

 

    	 

    	 

    

IN WITNESS WHEREOF, the
parties have executed this Investors’ Rights Agreement as of the date first written above.

 

	 	INVESTORS: Gabriel Capital Fund (US), LP 

By: Gabriel Capital Management (GP) Ltd.
	 	 	 
	 	By:	/s/ Gary Liebler
	 	 	 
	 	Name:	Gary Liebler
	 	 	 
	 	Title:	Director

 

 

	 	INVESTORS: Gabriel Capital Management
(GP) Ltd.
	 	 	 
	 	By:	/s/ Gary Liebler
	 	 	 
	 	Name:	Gary Liebler
	 	 	 
	 	Title:	Director

 

 

	 	INVESTORS: East Bayview Holdings, LLC
	 	 	 
	 	By:	/s/ Bart Baum
	 	 	 
	 	Name:	Bart Baum

 

Signature
Page to Investors’ Rights Agreement

 

    	 

    	 

    

IN WITNESS WHEREOF, the
parties have executed this Investors’ Rights Agreement as of the date first written above.

 

	 	INVESTORS: Insight Capital Ltd.
	 	 	 
	 	By:	/s/ Leon Recanati
	 	 	 
	 	Name:	Leon Recanati
	 	 	 
	 	Title:	Chairman and CEO

 

 

	 	INVESTORS: Leon Bialik
	 	 	 
	 	By:	/s/ Leon Bialik
	 	 	 
	 	Name:	Leon Bialik

 

 

	 	INVESTORS: Gabriel Menaged
	 	 	 
	 	By:	/s/ Gabriel Menaged
	 	 	 
	 	Name:	Gabriel Menaged

 

Signature
Page to Investors’ Rights Agreement

 

    	 

    	 

    

IN WITNESS WHEREOF, the
parties have executed this Investors’ Rights Agreement as of the date first written above.

 

	 	INVESTORS: Collace Services Limited
	 	 	 
	 	By:	/s/ John Le M. Germain
	 	 	 
	 	Name:	John Le M. Germain
	 	 	 
	 	Title:	Director

 

 

	 	INVESTORS: Collace Services Limited
	 	 	 
	 	By:	/s/ D.G. Toudic
	 	 	 
	 	Name:	D.G. Toudic
	 	 	 
	 	Title:	Director

 

 

	 	INVESTORS: Harry Grynberg
	 	 	 
	 	By:	/s/ Harry Grynberg
	 	 	 
	 	Name:	Harry Grynberg

 

Signature
Page to Investors’ Rights Agreement

 

    	 

    	 

    

IN WITNESS WHEREOF, the
parties have executed this Investors’ Rights Agreement as of the date first written above.

 

	 	INVESTORS: BW Equities LLC
	 	 	 
	 	By:	/s/ Howard Weiss
	 	 	 
	 	Name:	Howard Weiss
	 	 	 
	 	Title:	Management

 

 

	 	INVESTORS: Stanley Hirsch
	 	 	 
	 	By:	/s/ Stanley Hirsch
	 	 	 
	 	Name:	Stanley Hirsch

 

 

	 	INVESTORS: Chaim and Dalia Chizic
	 	 	 
	 	By:	/s/ Chaim Chizic
	 	 	 
	 	Name:	Chaim Chizic

 

Signature
Page to Investors’ Rights Agreement

 

    	 

    	 

    

IN WITNESS WHEREOF, the
parties have executed this Investors’ Rights Agreement as of the date first written above.

 

	 	INVESTORS: Gad Ichak
	 	 	 
	 	By:	/s/ Gad Ichak
	 	 	 
	 	Name:	Gad Ichak

 

 

	 	INVESTORS: Arie (Harry) Kahana
	 	 	 
	 	By:	/s/ Arie (Harry) Kahana
	 	 	 
	 	Name:	Arie (Harry) Kahana

 

 

	 	INVESTORS: Nissim Shaul
	 	 	 
	 	By:	/s/ Nissim Shaul
	 	 	 
	 	Name:	Nissim Shaul

 

Signature
Page to Investors’ Rights Agreement

 

    	 

    	 

    

IN WITNESS WHEREOF, the
parties have executed this Investors’ Rights Agreement as of the date first written above.

 

	 	INVESTORS: Dr. Borenstein Ltd.
	 	 	 
	 	By:	/s/ Amiram Borenstein
	 	 	 
	 	Name:	Amiram Borenstein
	 	 	 
	 	Title:	CEO

 

 

	 	INVESTORS: Alon Blankstein
	 	 	 
	 	By:	/s/ Alon Blankstein
	 	 	 
	 	Name:	Alon Blankstein

 

 

	 	INVESTORS: Eshed- Dash Ltd.
	 	 	 
	 	By:	/s/ Israel Ben-Yoram
	 	 	 
	 	Name:	Israel Ben-Yoram
	 	 	 
	 	Title:	CEO

 

Signature
Page to Investors’ Rights Agreement

 

    	 

    	 

    

IN WITNESS WHEREOF, the
parties have executed this Investors’ Rights Agreement as of the date first written above.

 

	 	INVESTORS: Tamarkin Medical Innovation,
Ltd.
	 	 	 
	 	By:	/s/ Dov Tamarkin
	 	 	 
	 	Name:	Dov Tamarkin
	 	 	 
	 	Title:	CEO

 

 

	 	INVESTORS: Ramy Karniel
	 	 	 
	 	By:	/s/ Ramy Karniel
	 	 	 
	 	Name:	Ramy Karniel

 

 

	 	INVESTORS: Andrew Kaye
	 	 	 
	 	By:	/s/ Andrew Kaye
	 	 	 
	 	Name:	Andrew Kaye

 

Signature
Page to Investors’ Rights Agreement

 

    	 

    	 

    

IN WITNESS WHEREOF, the
parties have executed this Investors’ Rights Agreement as of the date first written above.

 

	 	INVESTORS: Benny Shabtai
	 	 	 
	 	By:	/s/ Benny Shabtai
	 	 	 
	 	Name:	Benny Shabtai

 

 

	 	INVESTORS: Amos and Daughters
Investments and Properties Ltd.
	 	 	 
	 	By:	/s/ Eri M. Steinmatzky
	 	 	 
	 	Name:	Eri M. Steinmatzky
	 	 	 
	 	Title:	CEO

 

 

	 	INVESTORS: E.G.F.E. Israel Ltd.
	 	 	 
	 	By:	/s/ Michael Ben Ari
	 	 	 
	 	Name:	Michael Ben Ari

 

Signature
Page to Investors’ Rights Agreement

 

    	 

    	 

    

IN WITNESS WHEREOF, the
parties have executed this Investors’ Rights Agreement as of the date first written above.

 

	 	INVESTORS: Amos Avivi (Libi Yehudit
Avivi)
	 	 	 
	 	By:	/s/ Amos Avivi
	 	 	 
	 	Name:	Amos Avivi

 

 

	 	INVESTORS: Manoocher & Carol Robenpour
	 	 	 
	 	By:	/s/ Manoocher Robenpour
	 	 	 
	 	Name:	Manoocher Robenpour

 

 

	 	INVESTORS: Yitzhak Londner
	 	 	 
	 	By:	/s/ Yitzhak Londner
	 	 	 
	 	Name:	Yitzhak Londner

 

Signature
Page to Investors’ Rights Agreement

 

    	 

    	 

    

IN WITNESS WHEREOF, the
parties have executed this Investors’ Rights Agreement as of the date first written above.

 

	 	INVESTORS: Rosa Alba Commerce
and Investments Ltd.
	 	 	 
	 	By:	/s/ Chaim Chizic
	 	 	 
	 	Name:	Chaim Chizic
	 	 	 
	 	Title:	Manager

 

 

	 	INVESTORS: Michael B. Sladden 2012 Trust
	 	 	 
	 	By:	/s/ Eric R. Kaufman
	 	 	 
	 	Name:	Eric R. Kaufman
	 	 	 
	 	Title:	Trustee

 

 

	 	INVESTORS: Johnathan Leibler
	 	 	 
	 	By:	/s/ Johnathan Leibler
	 	 	 
	 	Name:	Johnathan Leibler

 

Signature
Page to Investors’ Rights Agreement

 

    	 

    	 

    

IN WITNESS WHEREOF, the
parties have executed this Investors’ Rights Agreement as of the date first written above.

 

	 	INVESTORS: Meir Eini (Investor)
	 	 	 
	 	By:	/s/ Meir Eini
	 	 	 
	 	Name:	Meir Eini

 

 

	 	INVESTORS: Castle Trust & Management Services
    Ltd

                            
    EQUUS Retirement & Annuity Trust Sheme
	 	 	 
	 	By:	/s/ Colin Gibbs
	 	 	 
	 	Name:	Colin Gibbs
	 	 	 
	 	Title:	Authorized Signatory

 

 

	 	INVESTORS: Castle Trust & Management Services
    Ltd

                            
    EQUUS Retirement & Annuity Trust Sheme
	 	 	 
	 	By:	/s/ Matthew Ruiz
	 	 	 
	 	Name:	Matthew Ruiz
	 	 	 
	 	Title:	Authorized Signatory

 

Signature
Page to Investors’ Rights Agreement

 

    	 

    	 

    

IN WITNESS WHEREOF, the
parties have executed this Investors’ Rights Agreement as of the date first written above.

 

	 	INVESTORS: Excellence Nessuah
Gemel Ltd.
	 	 	 
	 	By:	/s/ Uziel Danino
	 	 	 
	 	Name:	Uziel Danino

 

 

	 	INVESTORS: Excellence Nessuah
Gemel Ltd.
	 	 	 
	 	By:	/s/ Meir Fhilus
	 	 	 
	 	Name:	Meir Fhilus

  

Signature
Page to Investors’ Rights Agreement

 

    	 

    	 

    

SCHEDULE
A

 

Investors

 

	Gabriel Capital Fund (US), L.P
	Gabriel Capital Management (GP) Ltd.
	Gabriel Capital Management Ltd.
	Insight Capital Ltd.
	BW EQUITIES LLC
	Schnaider Family (2010) Trust
	East Bayview Holdings, LLC.
	Leon Bialik
	Genesis Asset Opportunity Fund LP
	G-TEN Partners LLC
	Gabe Menaged
	Collace Services Ltd
	Harry Grynberg
	Michael B. Sladden 2012 Trust
	Gary Leibler
	Jonathan Leibler
	Roni Levi

    	 

    	 

    

	Alon Blankstein
	Amos and Daughters Investments and Properties Ltd.
	Andy Kaye
	Arie (Harry) Kahana
	Benny Shabtai
	Castle Trust & Management Services Ltd EQUUS Retirement & Annuity Trust Scheme re: J Corre
	Chaim & Dalia Chizic
	Dr. Amiram Bornstein
	Dr. Stanley Hirsch
	Eshed Dash
	Gad Ichaki
	Meir Eini Holdings Ltd.
	Nissim Shaul
	Rami Karniel
	Tamarkin Medical Innovation Ltd
	Manoocher & Carol Robenpour
	E.G.F.E. Israel Ltd
	Rosa Alba Commerce and Investment Ltd
	Itzhak Londner
	Amos Avivi
	Excellence Nessuah Gemel Ltd.Exhibit 10.2

 

Foamix Pharmaceuticals Ltd.

 

Lease Agreement – Premises
in Rehovot

 

On May 7, 2008 Foamix Pharmaceuticals
Ltd. (the “Company”) executed a lease agreement with Gav Yam Real Estate Ltd. (the “Lessor” and the
“Original Agreement”).

 

Leased property: 1,069 square
meters (approximately 11,507 square feet) in A2 building, first floor, located in the Science Park in Rehovot.

 

Original Agreement Period: March
3, 2008 to February 28, 2010 with an option to extend the lease term for 24 months, from March 1, 2010 until February 28, 2012.

 

Rent: Monthly rental
fees of NIS 59 per square meter (a total of NIS
63,071) plus VAT. The rental fees are linked to the Consumer Price Index according to the Original Agreement. In addition,
management fees (NIS 9 per square meter, a total of NIS 9,621 per month) are paid monthly, linked to the Consumer Price Index
according to the Original Agreement.

 

Under the terms of the Original Agreement,
the Company submitted to the Lessor a bank guarantee in the amount of NIS 189,213.

 

On March 1, 2010, upon the exercise
of the Company’s aforesaid option, the Company and the Lessor extended the Original Agreement, under the same terms, until February
28, 2012.

 

On March 1, 2012 the Company and
the Lessor amended the Original Agreement and extended the lease period for an additional 30-month period, with regard to a smaller
space (991 square meters – approximately 10,667 square feet), under the same terms, until August 31, 2014.

 

On August 5,
2014, the Company and the Lessor amended the Original Agreement and extended the lease period for an additional 36-month period,
from September 1, 2014 until August 31, 2017, with regard to a smaller space (i.e. – the lease with regard to the
office space sub-leased by the Company, as defined below was not extended, so that the extended lease shall apply to 678 square
meters – approximately 7,298 square feet), under the same terms.

 

The Company was also granted the right
to terminate the extended lease period, by submitting a 180-day prior notice, during an 18-month period, commencing as
of September 1, 2014.

 

    	 

    	 

    

Sublease Agreement - Premises in
Rehovot

 

On July 1, 2012, the Company executed
a sublease Agreement with Objet Ltd and subleased to Objet Ltd 313 square meters (approximately 3,369 square feet), leased by
the Company from the Lessor.

 

Agreement Period: July 1, 2012
to August 31, 2014 (Without extension option).

 

Rent: Monthly rental
fees of NIS 59 per square meter (a total of NIS 18,467), plus VAT. The rental
fees are linked to the Consumer Price Index according to the Original Agreement. In addition, management fees of NIS 9 per  square
meter are paid monthly, linked to the Consumer Price Index, according to the Original Agreement.

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