Document:

Exhibit 10.6

 

INDEMNIFICATION AGREEMENT

 

This Agreement, made
and entered into effective as of the 23rd day of March, 2021 (“Agreement”), by and between Northern Genesis Acquisition
Corp. III, a Delaware corporation (“Company”), and ____________ (“Indemnitee”).

 

WHEREAS, the Board
of Directors of the Company (“Board”) has determined that the ability to attract and retain qualified officers and
directors is in the best interests of the Company’s shareholders;

 

WHEREAS, it is reasonable,
prudent and necessary for the Company to obligate itself contractually to indemnify such persons to the fullest extent permitted
by applicable law so that such persons will serve or continue to serve the Company free from undue concern that they will not be
adequately indemnified; and

 

WHEREAS, this Agreement
is a supplement to and in furtherance of Article VII of the Bylaws of the Company, and Article Eighth of the Amended and Restated
Certificate of Incorporation of the Company and any resolutions adopted pursuant thereto and shall neither be deemed to be a substitute
therefor nor to diminish or abrogate any rights of Indemnitee thereunder; and

 

WHEREAS, Indemnitee
is willing to serve on behalf of the Company on the condition that Indemnitee be indemnified according to the terms of this Agreement;

 

NOW, THEREFORE, in
consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

		1.	Definitions. For purposes of this Agreement:

 

1.1 “Change
in Control” means a change in control of the Company occurring after the date hereof of a nature that would be required to
be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule
or form) promulgated under the Securities Exchange Act of 1934, as amended (“Act”), whether or not the Company is then
subject to such reporting requirement provided, however, that, without limitation, such a Change in Control shall be deemed to
have occurred if after the date hereof (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Act),
other than a person who is an officer or director of the Company on the date hereof (and any of such person’s affiliates),
is or becomes “beneficial owner” (as defined in Rule 13d-3 under the Act), directly or indirectly, of securities of
the Company representing 50% or more of the combined voting power of the then outstanding securities of the Company without the
prior approval of at least two-thirds of the members of the Board in office immediately prior to such person attaining such percentage
interest; (ii) the Company is a party to a merger, consolidation, sale of assets or other reorganization, or a proxy contest, as
a consequence of which (A) members of the Board in office immediately prior to such transaction or event constitute less than a
majority of the Board thereafter or (B) the voting securities of the Company outstanding immediately prior to such transaction
do not continue to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity)
more than 50% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such
transaction with the power to elect at least a majority of the board of directors or other governing body of such surviving entity;
or (iii) during any period of two consecutive years, individuals who at the beginning of such period constituted the Board (including
for this purpose any new director whose election or nomination for election by the Company’s shareholders was approved by
a vote of at least two-thirds of the directors then still in office who were directors at the beginning of such period or whose
election or nomination for election was previously so approved) cease for any reason to constitute at least a majority of the Board.

 

     

     

    

 

1.2  “Corporate
Status” means the status of a person who is or was a director, officer, employee, agent or fiduciary of the Company or of
any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which such person is or was
serving at the request of the Company. In addition, service at the actual request of the Company, for purposes of this Agreement,
Indemnitee shall be deemed to be serving or to have served at the request of the Company as a director, officer, employee, agent
or fiduciary of any other enterprise if Indemnitee is or was serving as a director, officer, employee, agent or fiduciary of such
enterprise and (A) such enterprise is or at the time of such service was an affiliate of the Company, (B) such enterprise is or
at the time of such service was an employee benefit plan (or related trust) sponsored or maintained by the Company or an affiliate
of the Company or (C) the Company or an affiliate of the Company directly or indirectly caused Indemnitee to be nominated, elected,
appointed, designated, employed, engaged or selected to serve in such capacity

 

1.3  “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification
is sought by Indemnitee.

 

1.4  “Expenses”
means all reasonable attorneys’ fees, retainers, court costs (including trial and appeals), transcript costs, fees of experts,
witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees,
federal, state, local, or foreign taxes imposed as a result of the actual or deemed receipt of any payments under this Agreement,
and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing
to prosecute or defend, appealing, preparing to appeal, investigating, or being or preparing to be a witness in a Proceeding.

 

1.5  “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently
is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any other matter material to either
such party, or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the
foregoing, the term “Independent Counsel” does not include any person who, under the applicable standards of professional
conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement. Except as provided in the first sentence of Section 9.3 hereof, Independent Counsel
shall be selected by (a) the Disinterested Directors or (b) a committee of the Board consisting of two or more Disinterested Directors
or if (a) and (b) above are not possible, then by a majority of the full Board.

 

1.6  “Proceeding”
means any action, suit, arbitration, alternate dispute resolution mechanism, investigation, administrative hearing or any other
proceeding, , whether conducted by or on behalf of the Company or any other party, whether civil, criminal, administrative or investigative,
except one initiated by an Indemnitee pursuant to Section 11 of this Agreement to enforce Indemnitee’s rights under this
Agreement.

 

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		2.	Services by Indemnitee.

 

Indemnitee agrees to
serve as a director, officer or employee of the Company. Indemnitee may at any time and for any reason resign from such position
(subject to any other contractual obligation or any obligation imposed by operation of law).

 

		3.	Indemnification - General.

 

The Company shall indemnify,
and, subject to Section 26 hereof, advance Expenses to, Indemnitee as provided in this Agreement to the fullest extent permitted
by applicable law in effect on the date hereof and to such greater extent as any amendment to or interpretation of applicable law
may thereafter from time to time permit. The rights of Indemnitee provided under the preceding sentence shall include, but shall
not be limited to, the rights set forth in the other Sections of this Agreement.

 

The Company shall purchase
and maintain directors’ and officers’ liability insurance with limits of not less than US $5,000,000 while the Indemnitee
is a director, officer or employee of the Company (an “Executive”), which shall include outside director liability
coverage for the benefit of the Indemnitee while acting as an Executive. Following the Indemnitee ceasing to be an Executive or
serving in a similar capacity of the Company, for any reason whatsoever, the Company shall maintain for the benefit of the Indemnitee,
and his or her heirs and legal representatives, directors’ and officers’ liability insurance with at least the same
insurance coverage and limits as that provided for the benefit of any other past, present and future Executive of the Company.
The Company shall pay for and on behalf of the Indemnitee any and all deductibles or retentions to which the directors’ and
officers’ liability insurance policy makes the Company or the Indemnitee subject. The Company shall provide the Indemnitee,
where reasonably practicable, with 30 days advance notice of any proposed material change in, cancellation, termination or lapse
in coverage of any directors’ and officers’ liability insurance policy of the Company for the benefit of any Executive
of the Company, and shall provide details of any claim made under such policy. The Company shall purchase any available extended
reporting period available under such cancelled or terminated policy and any available run-off policy, with the same insurance
coverage and limits as the cancelled or terminated policy, and which shall be for a term of not less than six years, prepaid and
non-cancellable. The Company shall promptly notify insurers of any claim and comply with applicable policy terms and conditions
with respect to such notification. In the event of an investigation order made by a regulatory authority that is confidential and
subject to non-disclosure obligations, the Company shall promptly bring such applications as are necessary for an order from the
regulatory authority to enable all required notifications and provision of information to insurers concerning such claim.

 

For greater certainty,
a claim subject to indemnification hereunder shall include any taxes, including any assessment, reassessment, claim or other amount
for taxes, charges, duties, levies, imposts or similar amounts, including any interest and penalties in respect thereof, to which
the Indemnitee may be subject or which the Indemnitee may suffer or incur as a result of, in respect of, arising out of or referable
to any indemnification of the Indemnitee by the Company pursuant to this Agreement, including the payment of insurance premiums
or any payment made by an insurer under an insurance policy, if such payment is deemed to constitute a taxable benefit or otherwise
be or become subject to any tax or levy.

 

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		4.	Proceedings Other Than Proceedings by or in the Right of the Company.

 

Indemnitee shall be
entitled to the rights of indemnification provided in this Agreement if, by reason of Indemnitee’s Corporate Status, Indemnitee
is, was or is threatened to be made, a party to any threatened, pending or completed Proceeding, other than a Proceeding by or
in the right of the Company. Pursuant to this Agreement, subject to Section 26 hereof, Indemnitee shall be indemnified against
Expenses, judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection with any such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a
manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal
Proceeding, had no reasonable cause to believe Indemnitee’s conduct was unlawful.

 

		5.	Proceedings by or in the Right of the Company.

 

Indemnitee shall be
entitled to the rights of indemnification provided in this Agreement if, by reason of Indemnitee’s Corporate Status, Indemnitee
was or is threatened to be made, a party to any threatened, pending or completed Proceeding brought by or in the right of the Company
to procure a judgment in its favor. Pursuant to this Agreement, subject to Section 26 hereof, Indemnitee shall be indemnified against
amounts paid in settlement and Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
with the defense or settlement of any such Proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed
to be in or not opposed to the best interests of the Company. Notwithstanding the foregoing, no indemnification under this paragraph
shall be made in respect of (1) a threatened or pending Proceeding which is settled or otherwise disposed of, or (2) any claim,
issue or matter as to which such person shall have been adjudged to be liable to the Company, unless and only to the extent that
the court in which such Proceeding shall have been brought, was brought or is pending, shall determine, upon application, that
Indemnitee is fairly and reasonably entitled to indemnity for such portion of the settlement amount and Expenses as the court deems
proper.

 

		6.	Indemnification for Expenses of Party Who is Wholly or Partly Successful.

 

Notwithstanding any
other provision of this Agreement except for Section 26 hereof, to the extent that Indemnitee is, by reason of Indemnitee’s
Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, Indemnitee shall be indemnified
against all Expenses (and, when eligible hereunder, amounts paid in settlement) actually and reasonably incurred by Indemnitee
or on Indemnitee’s behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful,
on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall
indemnify Indemnitee against all Expenses (and, when eligible hereunder, amount paid in settlement) actually and reasonably incurred
by Indemnitee or on Indemnitee’s behalf in connection with each successfully resolved claim, issue or matter. For purposes
of this Agreement, the term “successful, on the merits or otherwise,” includes, but is not limited to, (i) any termination,
withdrawal, or dismissal (with or without prejudice) of any Proceeding against the Indemnitee without any express finding of liability
or guilt against Indemnitee, and (ii) the expiration of 90 days after the making of any claim or threat of a Proceeding without
the institution of the same and without any promise or payment made to induce a settlement.

 

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		7.	Indemnification for Expenses as a Witness.

 

Notwithstanding any
other provision of this Agreement except for Section 26 hereof, to the extent that Indemnitee is, by reason of Indemnitee’s
Corporate Status, a witness in any Proceeding, Indemnitee shall be indemnified against all Expenses actually and reasonably incurred
by Indemnitee or on Indemnitee’s behalf in connection therewith.

 

		8.	Advancement of Expenses and Other Amounts.

 

Subject to Section
26 hereof, the Company shall advance all Expenses, judgments, penalties, fines and, when eligible hereunder, amounts paid in settlement,
incurred by or on behalf of Indemnitee in connection with any Proceeding within thirty (30) days after the receipt by the Company
of a statement or statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after final
disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses, judgments, penalties, fines
and amounts paid in settlement, incurred by Indemnitee and shall include or be preceded or accompanied by an agreement by or on
behalf of Indemnitee to repay any Expenses, judgments, penalties, fines and amounts paid in settlement advanced if it shall ultimately
be determined that Indemnitee is not entitled to be indemnified against such Expenses, judgments, penalties, fines and, when eligible
hereunder, amounts paid in settlement. In connection with any request for advancement of Expenses, judgments, penalties, fines
and amounts paid in settlement, Indemnitee shall not be required to provide any documentation or information to the extent that
the provision thereof would undermine or otherwise jeopardize attorney-client privilege. The Company’s obligation in respect
of the advancement of Expenses, judgments, penalties, fines and amounts paid in settlement in connection with a criminal Proceeding
in which Indemnitee is a defendant shall terminate at such time as Indemnitee pleads guilty or is convicted after trial and such
conviction becomes final and no longer subject to appeal. Advances shall be unsecured and interest free. Advances shall be made
without regard to Indemnitee’s ability to repay such amounts and without regard to Indemnitee’s ultimate entitlement
to indemnification under the other provisions of this Agreement.

 

		9.	Procedure for Determination of Entitlement to Indemnification.

 

9.1  To
obtain indemnification under this Agreement in connection with any Proceeding, and for the duration thereof, Indemnitee shall submit
to the Company a written request, including therein or therewith such documentation and information as is reasonably available
to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The
Secretary of the Company shall, promptly upon receipt of any such request for indemnification, advise the Board in writing that
Indemnitee has requested indemnification.

 

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9.2  Upon
written request by Indemnitee for indemnification pursuant to Section 9.1 hereof, a determination, if required by applicable law,
with respect to Indemnitee’s entitlement thereto shall be made in such case: (i) if a Change in Control shall have occurred,
by Independent Counsel (unless Indemnitee shall request that such determination be made by the Board or the shareholders, in which
case in the manner provided for in clauses (ii) or (iii) of this Section 9.2) in a written opinion to the Board, a copy of which
shall be delivered to Indemnitee; (ii) if a Change of Control shall not have occurred, at the election of the Company, (A) by the
Board by a majority vote of a quorum consisting of Disinterested Directors, or (B) if a quorum of the Board consisting of Disinterested
Directors is not obtainable, by a majority of a committee of the Board consisting of two or more Disinterested Directors, or (C)
by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee, or (D) by the shareholders
of the Company, by a majority vote of a quorum consisting of shareholders who are not parties to the proceeding, or if no such
quorum is obtainable, by a majority vote of shareholders who are not parties to such proceeding; or (iii) as provided in Section
10.2 of this Agreement. If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made
within ten (10) days after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination
with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable
advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably
available to Indemnitee and reasonably necessary to such determination. Any costs or expenses (including attorneys’ fees
and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall
be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company
hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

 

9.3  If
a Change of Control shall have occurred, Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that
such selection be made by the Board), and Indemnitee (or the Board, as the case may be) shall give written notice to the other
party advising it of the identity of Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may
be, may, within seven (7) days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee,
as the case may be, a written objection to such selection. Such objection may be asserted only on the ground that Independent Counsel
so selected does not meet the requirements of “Independent Counsel” as defined in Section 1 of this Agreement, and
the objection shall set forth with particularity the factual basis of such assertion. If such written objection is made, Independent
Counsel so selected may not serve as Independent Counsel unless and until a court has determined that such objection is without
merit. If, within twenty (20) days after submission by Indemnitee of a written request for indemnification pursuant to Section
9.1 hereof, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition
a court of competent jurisdiction, for resolution of any objection which shall have been made by the Company or Indemnitee to the
other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by such court
or by such other person as such court shall designate, and the person with respect to whom an objection is so resolved or the person
so appointed shall act as Independent Counsel under Section 9.2 hereof. The Company shall pay any and all reasonable fees and expenses
of Independent Counsel incurred by such Independent Counsel in connection with its actions pursuant to this Agreement, and the
Company shall pay all reasonable fees and expenses incident to the procedures of this Section 9.3, regardless of the manner in
which such Independent Counsel was selected or appointed. Upon the due commencement date of any judicial proceeding pursuant to
Section 11.1(iii) of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such
capacity (subject to the applicable standards of professional conduct then prevailing).

 

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		10.	Presumptions and Effects of Certain Proceedings.

 

10.1  In
making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination
shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification
in accordance with Section 9.1 of this Agreement, and the Company shall have the burden of proof to overcome that presumption by
clear and convincing evidence in connection with the making by any person, persons or entity of any determination contrary to that
presumption.

 

10.2  If
the person, persons or entity empowered or selected under Section 9 of this Agreement to determine whether Indemnitee is entitled
to indemnification shall not have made a determination within sixty (60) days after receipt by the Company of the request therefor,
the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled
to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary
to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) prohibition
of such indemnification under applicable law; provided, however, that such 60-day period may be extended for a reasonable time,
not to exceed an additional thirty (30) days, if the person, persons or entity making the determination with respect to entitlement
to indemnification in good faith require(s) such additional time for the obtaining or evaluating of documentation and/or information
relating thereto; and provided, further, however, that the foregoing provisions of this Section 10.2 shall not apply (i) if the
determination of entitlement to indemnification is to be made by the shareholders pursuant to Section 9.2 of this Agreement and
if (A) within 15 days after receipt by the Company of the request for such determination the Board has resolved to submit such
determination to the shareholders for their consideration at an annual meeting thereof to be held within 75 days after such receipt
and such determination is made thereat, or (B) a special meeting of shareholders is called within 15 days after such receipt for
the purpose of making such determination, such meeting is held for such purpose within 60 days after having been so called and
such determination is made thereat, or (ii) if the determination of entitlement to indemnification is to be made by Independent
Counsel pursuant to Section 9.2 of this Agreement. In connection with each meeting at which a shareholder determination will be
made, the Company shall solicit proxies that expressly include a proposal to indemnify or reimburse the Indemnitee. The Company
shall afford the Indemnitee ample opportunity to present evidence of the facts upon which the Indemnitee relies for indemnification
in any Company proxy statement relating to such shareholder determination. Subject to the fiduciary duties of its members under
applicable law, the Board will not recommend against indemnification or reimbursement in any proxy statement relating to the proposal
to indemnify or reimburse the Indemnitee.

 

10.3  The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a
plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely
affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner
which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal
Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful.

 

10.4  Reliance
as Safe Harbor.

 

For purposes of this
Agreement, the Indemnitee shall be deemed to have acted in good faith and in a manner Indemnitee reasonably believed to be in or
not opposed to the best interests of the Company, or, with respect to any criminal Proceeding, to have had no reasonable cause
to believe Indemnitee’s conduct was unlawful, if Indemnitee’s action is based on (i) the records or books of account
of the Company, or another enterprise, including financial statements, (ii) information supplied to Indemnitee by the officers
of the Company or another enterprise in the course of their duties, (iii) the advice of legal counsel for the Company or another
enterprise, or of an independent certified public accountant or an appraiser or other expert selected with reasonable care by the
Company or another enterprise. The term “another enterprise” as used in this Section shall mean any other corporation
or any partnership, joint venture, trust, employee benefit plan or other enterprise of which the Indemnitee is or was serving at
the request of the Company as a director, officer, partner, trustee, employee or agent. The provisions of this Section shall not
be deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed to have met the
applicable standard of conduct set forth herein. Whether or not the foregoing provisions of this Section 10.4 are satisfied, it
shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner Indemnitee reasonably believed
to be in or not opposed to the best interests of the Company, or, with respect to any criminal Proceeding, to have had no reasonable
cause to believe Indemnitee’s conduct was unlawful. Anyone seeking to overcome this presumption shall have the burden of
proof and the burden of persuasion by clear and convincing evidence.

 

		11.	Remedies of Indemnitee.

 

11.1  In
the event that (i) a determination is made pursuant to Section 9 of this Agreement that Indemnitee is not entitled to indemnification
under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 8 of this Agreement, (iii) the determination
of indemnification is to be made by Independent Counsel pursuant to Section 9.2 of this Agreement and such determination shall
not have been made and delivered in a written opinion within sixty (60) days after receipt by the Company of the request for indemnification,
(iv) payment of indemnification is not made pursuant to Section 7 of this Agreement within thirty (30) days after receipt by the
Company of a written request therefor, or (v) payment of indemnification is not made within thirty (30) days after a determination
has been made that Indemnitee is entitled to indemnification or such determination is deemed to have been made pursuant to Section
9 or 10 of this Agreement, Indemnitee shall be entitled to an adjudication in an appropriate court of the State of New York, or
in any other court of competent jurisdiction, of Indemnitee’s entitlement to such indemnification or advancement of Expenses,
judgments, penalties, fines or, when eligible hereunder, amounts paid in settlement. The Company shall not oppose Indemnitee’s
right to seek any such adjudication.

 

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11.2  In
the event that a determination shall have been made pursuant to Section 9 of this Agreement that Indemnitee is not entitled to
indemnification, any judicial proceeding commenced pursuant to this Section shall be conducted in all respects as a de novo trial
on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination.

 

11.3  If
a determination shall have been made or deemed to have been made pursuant to Section 9 or 10 of this Agreement that Indemnitee
is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding commenced pursuant
to this Section, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make
Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) prohibition
of such indemnification under applicable law.

 

11.4  The
Company shall be precluded from asserting in any judicial proceeding commenced pursuant to this Section that the procedures and
presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company is
bound by all the provisions of this Agreement.

 

11.5  In
the event that Indemnitee, pursuant to this Section, seeks a judicial adjudication of Indemnitee’s rights under, or to recover
damages for breach of, this Agreement or any other agreement, including any other indemnification, contribution or advancement
agreement, or any provision of the certificate of incorporation or by-laws of the Company now or hereafter in effect, or for recovery
under directors’ and officers’ liability insurance policies maintained by the Company, Indemnitee shall be entitled
to recover from the Company, and shall be indemnified by the Company against, any and all expenses (of the kinds described in the
definition of Expenses) actually and reasonably incurred by Indemnitee in such judicial adjudication, but only if Indemnitee prevails
therein. If it shall be determined in such judicial adjudication that Indemnitee is entitled to receive less than all of the indemnification
or advancement of expenses sought, the expenses incurred by Indemnitee in connection with such judicial adjudication shall be appropriately
prorated. In addition, the Company shall, if so requested by Indemnitee, advance the foregoing expenses to Indemnitee, subject
to and in accordance with Section 8.

 

		12.	Procedure Regarding Indemnification.

 

With respect to any
Proceedings, the Indemnitee, prior to taking any action with respect to such Proceeding, shall consult with the Company as to the
procedure to be followed in defending, settling, or compromising the Proceeding and may not consent to any settlement or compromise
of the Proceeding without the written consent of the Company (which consent may not be unreasonably withheld or delayed). The Company
shall be entitled to participate in defending, settling or compromising any Proceeding and to assume the defense of such Proceeding
with counsel of its choice and shall assume such defense if requested by the Indemnitee. Notwithstanding the election by, or obligation
of, the Company to assume the defense of a Proceeding, the Indemnitee shall have the right to participate in the defense of such
Proceeding and to employ counsel of Indemnitee’s choice, but the fees and expenses of such counsel shall be at the expense
of the Indemnitee unless (i) the employment of such counsel has been authorized in writing by the Company, or (ii) the Indemnitee
has reasonably concluded that there may be defenses available to Indemnitee which are different from or additional to those available
to the Company (in which latter case the Company shall not have the right to direct the defense of such Proceeding on behalf of
the Indemnitee), in either of which events the fees and expenses of not more than one additional firm of attorneys selected by
the Indemnitee shall be borne by the Company. If the Company assumes the defense of a Proceeding, then counsel for the Company
and Indemnitee shall keep Indemnitee reasonably informed of the status of the Proceeding and promptly send to Indemnitee copies
of all documents filed or produced in the Proceeding, and the Company shall not compromise or settle any such Proceeding without
the written consent of the Indemnitee (which consent may not be unreasonably withheld or delayed) if the relief provided shall
be other than monetary damages and shall promptly notify the Indemnitee of any settlement and the amount thereof.

 

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		13.	Non-Exclusivity; Survival of Rights; Insurance; Subrogation; Contribution.

 

13.1  The
rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive of
any other rights to which Indemnitee may at any time be entitled under applicable law, the certificate of incorporation or by-laws
of the Company, any agreement, a vote of shareholders or a resolution of directors, or otherwise. No amendment, alteration or repeal
of this Agreement or any provision hereof shall be effective as to any Indemnitee with respect to any action taken or omitted by
such Indemnitee in Indemnitee’s Corporate Status prior to such amendment, alteration or repeal.

 

13.2  To
the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees,
agents or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise which such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance
with its or their terms to the maximum extent of the coverage available for any such director, officer, employee, agent or fiduciary
under such policy or policies.

 

13.3  In
the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are reasonably necessary to enable the Company to bring suit to enforce such rights.

 

13.4  The
Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the
extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

 

13.5  If
a determination is made that Indemnitee is not entitled to indemnification, after Indemnitee submits a written request therefor,
under this Agreement, then in respect of any threatened, pending or completed Proceeding in which the Company is jointly liability
with the Indemnitee (or would be if joined in such Proceeding), the Company shall contribute to the amount of Expenses, judgments,
fines and amounts paid in settlement by the Indemnitee in such proportion as is appropriate to reflect (i) the relative benefits
received by the Company on the one hand and the Indemnitee on the other hand from the transaction from which Proceeding arose,
and (ii) the relative fault of the Company on the one hand and of the Indemnitee on the other hand in connection with the events
that resulted in such Expenses, judgments, fines or amounts paid in settlement, as well as any other relevant equitable considerations.
The relative fault of the Company on the one hand and of the Indemnitee on the other hand shall be determined by reference to,
among other things, the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
the circumstances resulting in such Expenses, judgments, fines or amounts paid in settlement. The Company agrees that it would
not be just and equitable if contribution pursuant to this Section were determined by pro rata allocation or any other method of
allocation that does not take into account the foregoing equitable considerations. The determination as to the amount of the contribution,
if any, shall be made by: (i) a court of competent jurisdiction upon the application of both the Indemnitee and the Company (if
the Proceeding had been brought in, and final determination had been rendered by such court); (ii) the Board by a majority vote
of a quorum consisting of Disinterested Directors; or (iii) Independent Counsel, if a quorum is not obtainable for purpose of (ii)
above, or, even if obtainable, a quorum of Disinterested Directors so directs.

 

    9 

     

    

 

		14.	Duration of Agreement.

 

This Agreement shall
continue until and terminate upon the later of: (a) ten (10) years after the date that Indemnitee shall have ceased to serve as
a director and/or officer of the Company, or (b) the final termination of all pending Proceedings in respect of which Indemnitee
is granted rights of indemnification or advancement of Expenses, judgments, penalties, fines or amounts paid in settlement hereunder
and or any proceeding commenced by Indemnitee pursuant to Section 11 of this Agreement. This Agreement shall be binding upon the
Company and its successors and assigns and shall inure to the benefit of Indemnitee and Indemnitee’s spouse, heirs, executors,
personal representatives and administrators. The Company shall require and cause any successor (whether direct or indirect by purchase,
merger, consolidation, or otherwise) to all, substantially all, or a substantial part, of the business and/or assets of the Company,
by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement
in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

 

		15.	Severability.

 

If any provision or
provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity,
legality and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any Section
of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal
or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions
of this Agreement (including, without limitation, each portion of any Section of this Agreement containing any such provision held
to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give
effect to the intent manifested by the provision held invalid, illegal or unenforceable.

 

    10 

     

    

 

		16.	Entire Agreement.

 

This Agreement constitutes
the entire agreement between the Company and the Indemnitee with respect to the subject matter hereof and supersedes all prior
agreements, understanding, negotiations and discussion, both written and oral, between the parties hereto with respect to such
subject matter (the “Prior Agreements”); provided, however, that if this Agreement shall ever be held void or unenforceable
for any reasons whatsoever, and is not reformed pursuant to Section 15 hereof, then (i) this Agreement shall not be deemed to have
superseded any Prior Agreements; (ii) all of such Prior Agreements shall be deemed to be in full force and effect notwithstanding
the execution of this Agreement; and (iii) the Indemnitee shall be entitled to maximum indemnification benefits provided under
any Prior Agreements, as well as those provided under applicable law, the certificate of incorporation or by-laws of the Company,
a vote of shareholders or resolution of directors.

 

		17.	Exception to Right of Indemnification or Advancement of Expenses.

 

17.1 Except
as provided in Section 11.5, Indemnitee shall not be entitled to indemnification or advancement of Expenses, judgments, penalties,
fines and amounts paid in settlement under this Agreement with respect to any Proceeding, or any claim therein, brought or made
by Indemnitee against the Company.

 

17.2  Indemnitee
shall not be entitled to indemnification or advancement of Expenses under this Agreement with respect to any Proceeding, or any
claim therein, arising from the purchase and sale by Indemnitee of securities in violation of Section 16(b) of the Exchange Act
or Company similar successor statute.

 

		18.	Covenant Not to Sue; Limitation of Actions; Release of Claims.

 

No legal action shall
be brought and no cause of action shall be asserted by or on behalf of the Company (or any of its subsidiaries) against the Indemnitee,
Indemnitee’s spouse, heirs, executors, personal representatives or administrators after the expiration of two (2) years from
the date of accrual of such cause of action and any claim or cause of action of the Company (or any of its subsidiaries) shall
be extinguished and deemed released unless asserted by the filing of a legal action within such two (2) year period; provided,
however, that if any shorter period of limitation is otherwise applicable to any such cause of action, such shorter period shall
govern.

 

		19.	Identical Counterparts.

 

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

 

		20.	Headings.

 

The headings of the
paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or
to affect the construction thereof.

 

    11 

     

    

 

		21.	Modification and Waiver.

 

No supplement, modification
or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar)
nor shall such waiver constitute a continuing waiver.

 

		22.	Notice by Indemnitee.

 

Indemnitee agrees promptly
to notify the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or
other document relating any Proceeding or matter which may be subject to indemnification or advancement of Expenses, judgments,
penalties, fines or amounts paid in settlement covered hereunder. The failure to notify the Company on a timely basis shall not
constitute a waiver of Indemnitee’s rights under this Agreement, except to the extent that such failure or delay (i) causes
the amounts paid or to be paid by the Company to be greater than they otherwise would have been, (ii) adversely affects the Company’s
ability to obtain for itself or Indemnitee coverage or proceeds under any insurance policy available to the Company or Indemnitee,
or (iii) otherwise results in prejudice to the Company.

 

		23.	Notices.

 

All notices, requests,
demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by
hand and receipted for by the party to whom such notice or other communication shall have been directed, (ii) sent by reputable
overnight courier, on the first business day after the date on which it is so sent, or (iii) mailed by certified or registered
mail with postage prepaid, on the third business day after the date on which it is so mailed, (A) if to Indemnitee, to the address
set forth therefor on the signature page to this Agreement, and (B) if to the Company, to:

 

Northern Genesis Acquisition
Corp. III

4801 Main Street, Suite
1000

Kansas City, MO 64112

Attention: Chief Financial
Officer

 

or to such other address or such other
person as Indemnitee or the Company shall designate in writing in accordance with this Section, except that notices regarding changes
in address for notices shall be effective only upon receipt.

 

		24.	Governing Law.

 

The parties agree that
this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of New York applicable
to contracts made and performed in that state without giving effect to the principles of conflicts of laws. The Company and Indemnitee
each hereby irrevocably consents to the jurisdiction of the courts of the State of New York and the federal courts within the State
for all purposes in connection with any action or proceeding that arises out of or relates to this Agreement and agrees that any
action instituted under this Agreement shall be brought only in the United States District Court for the Southern District of New
York and any New York State court within that District.

 

    12 

     

    

 

		25.	Mutual Acknowledgment.

 

Both the Company and
Indemnitee acknowledge that, in certain instances, Federal law or applicable public policy may prohibit the Company from indemnifying
its directors and officers under this Agreement or otherwise. Indemnitee understands and acknowledges that the Company has undertaken
or may be required in the future in certain circumstances to undertake with the Securities and Exchange Commission to submit the
question of indemnification to a court for a determination of the Company’s right under public policy to indemnify Indemnitee.

 

		26.	Waiver of Claims to Trust Account.

 

Indemnitee hereby agrees
that it does not have any right, title, interest or claim of any kind (each, a “Claim”) in or to any monies in the
trust account established in connection with the Company’s initial public offering for the benefit of the Company and holders
of shares issued in such offering, and hereby waives any Claim it may have in the future as a result of, or arising out of, any
services provided to the Company and will not seek recourse against such trust account for any reason whatsoever.

 

		27.	Miscellaneous.

 

Use of the masculine pronoun shall be deemed
to include usage of the feminine pronoun where appropriate.

 

[Signature Page Follows]

 

    13 

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement on the day and year first above written.

 

	 	NORTHERN GENESIS ACQUISITION CORP. III
	 	 
	 	By:	/s/ Ian Robertson
	 	 	Ian Robertson
	 	 	Chief Executive Officer
	 	 	 
	 	INDEMNITEE: 

	 	 	 
	 	By:	 
	 	 	 
	 	Address for Notices to Indemnitee:

                                                              
	 
	 	 
	 	 

 

[Signature Page to Indemnification Agreement]Exhibit 4.3

 

Itamar Medical Ltd.

 

ISRAELI EQUITY
INCENTIVE PLAN 2016

 

As adopted by the Board
of Directors on January 21, 2016

 

 

		1.	Purpose

 

This Itamar Medical Ltd. 2016
Equity Incentive Plan (the "Plan") is intended to promote the interests of Itamar Medical Ltd. (the “Company”)
and its shareholders by providing employees, directors, officers, and advisors of the Company or any Affiliate with appropriate
incentives and rewards to encourage them to enter into and continue in the employ of, or service to, the Company or any Affiliate
and to acquire a proprietary interest in the long-term success of the Company. The Plan is designed to enable Israeli employees,
directors and officers of the Company or any Affiliate to benefit from the provisions of Section 102 of the Israeli Income Tax
Ordinance [New Version], 1961, as amended, and any regulations, rules, orders or procedures promulgated thereunder.

 

		2.	Definitions

 

As used in the Plan, the following definitions shall
apply to the terms indicated below:

 

	“Administrator”	means
    (i) the Board of Directors, or (ii) the Committee, to the extent acting in accordance with this Plan or any specific authorization
    and guidelines provided by the Board of Directors for such purpose and subject to any restriction under applicable law.
	 	 
	“Affiliate”	means any entity
    (a) with respect to which the Company is an “employing company” within the meaning of Section 102(a) of the Ordinance;
    and (b) is approved by the Administrator as an Affiliate to which the terms of this Plan apply.
	 	 
	“Approved
    102 Grant ”	means a Grant granted
    pursuant to Section 102(b) of the Ordinance and held in trust by a Trustee for the benefit of the Participant.
	 	 
	“Capital Gain
    Grant (CGG)”	means an Approved
    102 Grant elected and designated by the Company to qualify under the capital gain tax treatment in accordance with the provisions
    of Section 102(b)(2) of the Ordinance.
	 	 
	“Cashless Formula ”	means the following
    formula:
	 	 
	 	X =     A
    x (B - C)    
	 	B
	 	A = the number of
    vested Options the Participant requests to exercise as written in the Notice of Exercise;
	 	B = the higher of (1) closing
price of an Ordinary Share on the Stock Exchange, on the last trading day before the Notice Date (as defined in Section 8.1.6 below),
as such closing price is published by the Stock Exchange, and (2) Participant’s limit order price;

	 	C= the Option Exercise
    Price.
	 	X= the number of
    shares to be issued to the participant following the cashless exercise of the Options.

 

     

    

    

 

	“Cashless Options
”	shall have the meaning set forth in Section 8.3 (i)(y) or (ii) below. 
	 	 
	“Cause”	when used in connection with the termination of a Participant's employment or service by the Company or any Affiliate, shall mean (a) the willful and continued failure by the Participant to perform his duties (including the duty of care and the fiduciary duty as set forth in the Companies Law) and obligations to the Company or any Affiliate (other than any such failure resulting from Retirement or Disability, as hereinafter defined or any such failure approved by the Company, subject to applicable law); or (b) the willful engaging by the Participant in misconduct which is injurious to the Company or any Affiliate, provided, however, that in relation to employees or officers of the Company or any Affiliate, in each case the actions or omissions of the Participant are sufficient to deny the Participant severance payment under the Severance Payment Law, 1963.
	 	 
	“Commencement
Date”	with respect to the vesting schedule of an Option or an RSU or the earning schedule of a Restricted Share, shall be the Grant Date, unless another date for the commencement of the vesting or earning schedule with respect to such Option, RSU or Restricted Share has been set by the Administrator and written in the Grant Instrument.
	 	 
	“Committee”	shall mean the Compensation Committee of the Company's Board of Directors (as may be re-named by the Board of Directors or any committee that will replace it by law or by resolution of the Board of Directors).
	 	 
	“Companies
Law”	shall mean the Israeli Companies Law, 1999 and all regulations promulgated thereunder, as may be amended from time to time.
	 	 
	“Company”	shall mean Itamar Medical Ltd., a company incorporated under the laws of the State of Israel.
	 	 
	“Compensation Policy”	The Compensation Policy, if any, as adopted or amended from time to time by the Company, pursuant to Section 267A of the Companies Law.
	 	 
	“Controlling Shareholder”	shall have the meaning ascribed to such term in Section 102.
	 	 
	“Corporate Transaction”	shall have the meaning set forth in Section 3.2.6 below.
	 	 
	 “Disability”	shall mean any physical or mental condition that prevents the Participant from continuing,
for a period of six (6) consecutive months or nine (9) months in any twelve months period, to work in his position or in a comparable
one in the Company or the employing Affiliate (as the case may be) or prevents the Participant from continuing to provide services
to the Company or such Affiliate for the above said period, provided that if the Participant is a party to an employment or similar
agreement with the Company or an Affiliate and such agreement contains a definition of “Disability”, the definition
contained in such agreement shall replace the above definition with respect to such Participant only. Determination of a Disability
shall be made in consultation with a physician selected by the Administrator and shall be finally and conclusively determined
by the Administrator at its absolute discretion.

 

    	 	2	 

    

    

 

	“Effective Date”	means January 21, 2016 the date on which the Board of Directors first approved the Plan.
	 	 
	“Employee”	means a person who is employed by the Company or any of its Affiliates, including an individual who is serving as a director or an office holder all as defined in Section 102, who is not a Controlling Shareholder.
	 	 
	“Exercise Date”	shall have the meaning set forth in Section 11 below.
	 	 
	“Exercise Period”	shall have the meaning set forth in Section 8.1.3 and 8.3.3 below, as the case may be. For the purpose of this Plan, the term "Exercise Period" shall be interpreted to include any extensions to the Exercise Period, as detailed in Section 21 below.
	 	 
	“Grant”	means the grant hereunder of any Granted Security, granted to a Participant pursuant to this Plan, whether granted singly, in combination or in tandem (each, individually referred to as a “Grant”).
	 	 
	“Grant Date”	of a Granted Security means the date
    on which the Board of Directors resolves to grant such Granted Security, unless another future date is specified by the Board
    of Directors; provided, that, if further approvals are required for the granting of a Granted Security, the
    Grant Date shall mean the date that the last required approval for the grant of such Granted Security shall have been obtained,
    unless specified otherwise in the Grant Instrument.
	 	 
	“Grant Instrument”	shall have the meaning set forth in Section 7.2 below.
	 	 
	“Granted Security”	Any Option, Restricted Share, RSU or any other security granted to a Participant pursuant to this Plan, whether granted singly, in combination or in tandem .
	 	 
	“ITA”	means Israel Tax Authority.
	 	 
	“Non- Employee” 	means a person who is not an Employee
of the Company or its Affiliates.
	 	 
	“Option”	shall mean an option to purchase one or more Ordinary Shares granted pursuant to this Plan.
	 	 
	“Option Exercise Price”	shall have the meaning set forth in Section 8.1.1 below as may be adjusted from time to time in accordance with Sections 3.2 or 8.1.1 below.

 

    	 	3	 

    

    

 

	“Ordinary Income
Grant (OI G)”	means an Approved 102 Grant elected and designated by the Company to qualify under the ordinary income tax treatment in accordance with the provisions of Section 102(b)(1) of the Ordinance.
	 	 
	“102 Grant”	means any Grant granted pursuant to Section 102 of the Ordinance.
	 	 
	“3(i) Grant”	means a Grant granted pursuant to Section 3(i) of the Ordinance.
	 	 
	“Ordinary Shares”
	shall mean ordinary shares of the Company, par value NIS 0.01 each.
	 	 
	“Participant”	shall mean an Employee or a Non-Employee to whom a Grant is granted pursuant to the Plan, and, upon his death or legal incapacity, his successors, heirs, executors and administrators, as the case may be.
	 	 
	“Plan”	shall mean this Itamar Medical Ltd. 2016 Israeli Equity Incentive Plan, as may be amended from time to time.
	 	 
	"Restricted Share”	means an Ordinary Share issued or transferred to a Participant pursuant to Section 8.2 below, which is subject to restrictions or limitations set forth in this Plan and in the related Grant Instrument.
	 	 
	"RSU"	means a right to receive one Ordinary Share granted to a Participant pursuant to Section 8.3 below, which is subject to restrictions or limitations set forth in this Plan and in the related Grant Instrument.
	 	 
	“Restriction Period”	shall have the meaning set forth in Section 8.2.2 below.
	 	 
	“Retirement”	shall mean the actual termination of a Participant's employment with or service to the Company or the Affiliate employing him as a result of his reaching the earlier of: (a) the legal age for retirement and (b) the age for retirement identified in his employment or service agreement.
	 	 
	“Section 3(i)”	means Section 3(i) of the Ordinance and any regulations, rules, orders or procedures promulgated thereunder as now in effect or as hereafter amended.
	 	 
	“Section 102”	means Section 102 of the Ordinance and any regulations, rules, orders or procedures promulgated thereunder as now in effect or as hereafter amended.
	 	 
	“Section 102 Rules”	means the Income Tax Rules (Tax Relief for Issuance of Shares to Employees), 2003 as now in effect or as hereafter amended.
	 	 
	"Stock Exchange"	shall mean the Tel Aviv Stock Exchange Ltd. provided however that if the Company's shares will be listed on the NASDAQ or the NYSE, than Stock Exchange shall mean NASDAQ or the NYSE, as applicable, unless the Administrator determined, in its sole discretion, otherwise.
	 	 
	“Tax Ordinance” or “Ordinance”	shall mean the Israeli Income Tax Ordinance [New Version], 1961, as amended, and any regulations, rules, orders or procedures promulgated thereunder.

 

    	 	4	 

    

    

 

	“Trustee”	means any individual appointed by the Company to serve as a trustee and approved by the ITA, all in accordance with the provisions of Section 102(a) of the Ordinance.
	 	 
	“Termination Date”	The date which falls twenty (20) years after the Effective Date, or such other date that will be specified in the Grant Instrument.
	 	 
	“Unapproved 102 Grant”	means a Grant granted pursuant to Section 102(c) of the Ordinance and not held in trust by a Trustee.

 

Reference to the  male person is done for convenience
purposes only and also applies to the female person.

 

		3.	Shares Subject to the Plan

 

		3.1.	Canceled.

 

		3.2.	Adjustments. Upon the occurrence of any of the following
events, provided that the record date for such event will take place after the Grant Date but prior to the exercise or expiration
of the Options or RSUs, a Participant’s rights under any Grant granted hereunder shall be adjusted as hereinafter provided:

 

		3.2.1.	Recapitalization.

 

In the event the Shares are
subdivided or combined into a greater or smaller number of shares of the Company or if, upon a reorganization, recapitalization
or the like, the Shares are exchanged for other securities of the Company the Administrator may resolve, in its sole and absolute
discretion, on one of the following adjustments or any combination of the two:

 

		(i)	each Participant shall be entitled, upon exercising a vested
Option or a vested RSU, subject to the conditions herein stated, to purchase or receive such greater or smaller number of Shares
or amount of other securities of the Company as were exchangeable, for the number of Shares of the Company which such Participant
would have been entitled to purchase or receive following such subdivision, combination or exchange in order to prevent diminution
or enlargement of the benefits or potential benefits intended to be made available under this Plan;

 

		(ii)	With respect to Options and RSUs, appropriate adjustments shall be made in the Exercise Price to
reflect such subdivision, combination or exchange.

 

		3.2.2.	Bonus
                                         Shares.

 

In the event the Company distributes
bonus shares, each Participant upon exercising such Option or RSU shall be issued by the Company (for the exercise price payable
upon such exercise, if any), the Ordinary Shares as to which he is exercising his Option or RSU and, in addition thereto (at no
additional cost), such number of shares of the class or classes in which such bonus shares were distributed, on the same terms
and conditions as offered to the other shareholders, which he would have received if he had been the holder of the Ordinary Shares
as to which he is exercising his Option or RSU at all times between the date of issuance of such Option or RSU on behalf of a Participant
in the name of the Trustee and the date of its exercise. In such event, the Exercise Price per Option or RSU (if any) will be reduced
by the ratio of the bonus shares distribution (i.e., the number of bonus shares distributed divided by the total number
of Ordinary Shares immediately following the said distribution of bonus shares).

 

    	 	5	 

    

    

 

	 	Y=	R*X *(MP-       EP)/MP
	 	 	R
	 	 	 
	Y	 	The number of shares issued upon the exercise of options or RSUs following the issuance of bonus shares.
	 	 	 
	X	 	Number of Options or RSUs.
	 	 	 
	R	 	The result of: (i) the total number of Ordinary Shares immediately following the distribution of bonus shares; divided by (ii) the total number of Ordinary Shares immediately prior to the distribution of bonus shares.
	 	 	 
	MP	 	The price of an Ordinary Share on the Stock Exchange immediately following the distribution of bonus shares.
	 	 	 
	EP	 	Original Exercise Price

 

For illustration purposes only, in the event the Company granted
100 Options to a Participant at an Exercise Price of NIS 55 per Option, and following that the Company distributed bonus shares
at a 1:1 ratio while the price of an Ordinary Share on the Stock Exchange prior to the distribution of the bonus shares was NIS
80 and immediately following such distribution of bonus shares was NIS 40, then upon the cashless exercise of such Options immediately
following the distribution of bonus shares, the number of Exercise Shares issued to the Participant would be 62 Ordinary Shares
pursuant to the following calculation:

 

[200 x (40-27.5)/40] = 62.5

 

The number of Exercise Shares resulting as of the said distribution
shall be 62 Ordinary Shares only as no fractional shares will be issued.

 

		3.2.3.	Rights Offering.

 

Options and RSUs

 

In the event of a rights
offering conducted by the Company, the number of Ordinary Shares issued as a result of the exercise of Options or RSUs shall
be adjusted to the benefit component (“markiv hahatava” in Hebrew) in the rights offering as reflected in the
ratio between the closing price of an Ordinary Share on the Stock exchange on the last trading prior to the ex-day and the
basis price of an Ordinary Share on the Stock exchange ex-rights. Notwithstanding the above, the Exercise Price shall not be
reduced in any event to less than the higher of: (i) nominal value of an Ordinary Shares; (ii) minimum exercise price
according to the Stock Exchange by laws (if and to the extent that the Stock Exchange by laws indeed imposes such a
limitation on such an issuance of Ordinary Shares).

 

    	 	6	 

    

    

 

Restricted Shares

 

In the event of a rights offering conducted by the Company to
its shareholders, the Trustee will sell on the Rights Trading Day on the Stock Exchange (as such term is defined in the rights
offering document) all the rights received for all Restricted Shares that have not vested by the record date determined for such
rights offering (including). The consideration received by the Trustee from such sale (the "Consideration") will
be allocated among all said unvested Restricted Shares pro rata. Upon release of any Restricted Shares from the Trustee
to a Participant in accordance with the terms of this Plan, the Trustee will transfer to the Participant also such portion of the
Consideration allocated for such released Restricted Shares. Consideration for Restricted Shares that were returned to the Company
pursuant to the terms of this Plan will be transferred to the Company together with such Restricted Shares. For the avoidance of
doubt, Participants who were granted Restricted Shares which have vested prior to or on the record date and are held by the trustee
may participate in the rights offering as any other shareholder of the Company and may instruct the Trustee to act accordingly.

 

		3.2.4.	Dividend

 

Options and RSUs

 

In the event the Company distributes
cash dividends, then the Option Exercise Price for each Ordinary Share underlying such Option (whether vested or not as at the
relevant record date), not exercised prior to such record date, shall be reduced, as of the record date determining the right to
receive such dividend, by the gross dividend amount so distributed per Ordinary Share.

 

In any event, the Option Exercise Price shall not
be reduced to less than the higher of: (i) the par value of an Ordinary Share; (ii) minimum exercise price according to the Stock
Exchange by laws (if and to the extent that the Stock Exchange by laws indeed imposes such a limitation on such an issuance of
Ordinary Shares).

 

Restricted Shares

 

In the event the Company distributes cash dividends,
the Trustee will hold such dividend amounts with respect to any Restricted Shares held by the Trustee on the record date for such
dividend distribution. Upon release of any Restricted Shares from the Trustee to a Participant in accordance with the terms of
this Plan, the Trustee will transfer to the Participant also the dividends accumulated for such Restricted Shares (at a nominal
value). In the event Restricted Shares are returned to the Company pursuant to the terms of this Plan, the Trustee will also transfer
to the Company the dividend amount accumulated for such Restricted Shares (at a nominal value) together with such Restricted Shares.

 

RSUs

 

In the event the Company distributes cash dividends, the number
of Ordinary Shares issued as a result of the exercise of RSUs shall be adjusted to the benefit component in the dividend as reflected
in the ratio between the closing price of an Ordinary Share on the Stock Exchange on the last trading prior to the ex-day and the
basis price of an Ordinary Share on the Stock Exchange ex-dividend.

 

    	 	7	 

    

    

 

		3.2.5.	Liquidation; Winding Up.

 

Unless otherwise resolved
by the Administrator, in the event of the proposed dissolution or liquidation of the Company which is not within the
framework of a Corporate Transaction, all outstanding Granted Securities, except for vested Granted Securities that do not
require the Participants to exercise them, will terminate immediately prior to the consummation of such proposed action. In
such case, the Administrator may, but is not obliged to, declare that any Granted Securities shall terminate as of a date
fixed by the Administrator and give each Participant the right to exercise his/her Granted Securities or have it vested,
including Granted Securities that would not otherwise vest or be exercisable.

 

In the event of an effective
resolution being proposed for the voluntary winding-up of the Company (herein after in this Section 3.2.5 "Resolution"),
which is not within the framework of a Corporate Transaction, the Administrator shall notify the Participant of the said Resolution
as soon as practicable, but not less than 14 working days, prior to the effective date of such voluntary liquidation. Any Participant
may, subject to the provisions of all applicable laws, by notice in writing to the Company at any time prior to the effective date
of such voluntary liquidation, exercise his vested Options or vested RSUs (to the extent not already exercised) either to its full
extent or to the extent specified in such Notice of Exercise in accordance with the provisions of Section 8.1.5 or Section 8.3.4
below (as the case may be) and shall accordingly be entitled, in respect of the Ordinary Shares to be issued upon the exercise
of his or her vested Option or vested RSUs, to participate in the distribution of the assets of the Company available in liquidation
pari passu with the holders of the outstanding Ordinary Shares. Restricted Shares earned at the time the voluntary winding-up
resolution is passed, would be automatically treated in the same manner as all other Ordinary Shares of the Company .

 

		3.2.6.	Merger; Consolidation; Reorganization.

 

In the event of a sale of all of the Company's outstanding
share capital, merger, consolidation, reorganization, recapitalization, going private (i.e. the Company's shares are no longer
listed for trade on a stock exchange) or similar event or transaction (a “Corporate Transaction”), the Administrator,
in its sole and absolute discretion, shall decide upon any of the following: (i) if and how the unvested Granted Securities, as
the case may be, shall be canceled, exchanged, assumed, replaced, repurchased, cashed out amended or vested and exercised; (ii)
if and how vested Granted Securities (including Granted Securities with respect to which the vesting period has been accelerated)
shall be exercised, exchanged, assumed, repurchased, cashed out replaced, amended and/or sold by the Trustee or the Company (as
the case may be) on behalf of the Participants; (iii) how Underlying Shares granted under the trust tracks and held by the Trustee
on behalf of 102 Participants shall be replaced, exchanged, repurchased cashed out or sold by the Trustee on behalf of these Participant,
and (iv) how any treatment of Granted Securities and underlying Shares may be made subject to any payment or escrow arrangement,
or any other arrangement determined within the scope of the Merger Transaction in relation to Awards and Underlying Shares of the
Company.

 

    	 	8	 

    

    

 

In the case of assumption or substitution of Granted
Securities, appropriate adjustments shall be made so as to reflect such action and all other terms and conditions of the Grant
Instrument shall remain unchanged, including but not limited to the vesting schedule. The grant of any substitutes for the Granted
Securities to Participants further to a Corporate Transaction, as provided in this section, shall be considered to be in full compliance
with the terms of this Plan. The value of the exchanged Granted Securities pursuant to this section shall be determined based on
the price of the Company's shares in the Corporate Transaction (such price to be determined by the Administrator in its sole discretion).

 

For the purposes of this Section, the mechanism for determining
the assumption or exchange as aforementioned shall be agreed upon between the Administrator and the successor company.

 

Without derogating from the above, in the event of a Corporate
Transaction the Administrator shall be entitled, at its sole discretion, to require the Participants to exercise all vested Granted
Securities within a set time period and sell all of their Shares on the same terms and conditions as applicable to the other shareholders
selling their Company’s Shares as part of the Corporate Transaction. Each Participant acknowledges and agrees that the Administrator
shall be entitled, subject to any applicable law, to authorize any one of its members to sign share transfer deeds in customary
form in respect of the shares held by such Participant and that such share transfer deed shall bind the Participant.

 

Despite the aforementioned and for the avoidance of any doubt,
if and when the method of treatment of Granted Securities within the scope of a Corporate Transaction, as provided above, shall
in the sole opinion of the Administrator prevent the consummation of the Corporate Transaction, or materially risk the consummation
of the Corporate Transaction, the Administrator may determine different treatment for different Granted Securities held by Participants
such that not all Granted Securities will be treated equally within the scope of the Corporate Transaction.

 

The Participants shall execute any documents required by the
Company or any Successor Company or parent of affiliate thereof in order to affect any of the actions determined within the scope
of this Section 3.2.6 The failure to execute any such document may cause the expiration and cancellation of any Granted Securities
held by such Participant, as determined by the Administrator in its sole and absolute discretion.

 

If there has been any alteration in the capital structure of
the Company as referred to in this Section 3.2, the Company shall, upon receipt of a Notice of Exercise (pursuant to Section 8.1.5
or 8.3.4 below, as applicable) inform the Participant of such alteration and shall inform the Participant of the adjustment to
be made.

 

Without derogating from the above, an appropriate adjustments
shall be made in the number and other pertinent elements of any outstanding Restricted Shares or RSUs, with respect to which restrictions
have not yet lapsed prior to any such change.

 

The Administrator shall determine the specific adjustments to
be made in accordance with this Section 3 and with the rules and regulations of any stock exchange applicable from time to time
to the Company, by reason of their applicability to its shareholders or otherwise. A determination made in accordance with this
Section 3 shall be conclusive and binding on the Participants.

 

    	 	9	 

    

    

 

		4.	Granting of Granted Securities

 

		4.1.	The persons eligible for participation in the Plan as Participants
shall include any Employees or Non-Employees of the Company or of any Affiliate; provided, however, that (i) Employees may only
be granted 102 Grants and (ii) Non-Employees may only be granted 3(i) Grants.

 

		4.2.	The Company may designate Grants granted to Employees pursuant
to Section 102 as Unapproved 102 Grants or Approved 102 Grants.

 

		4.3.	The grant of Approved 102 Grants shall be made under this
Plan adopted by the Board of Directors.

 

		4.4.	Approved 102 Grants may either be classified as Capital
Gain Grants (“CGGs”) or Ordinary Income Grants (“OIGs”).

 

		4.5.	No Approved 102 Grants may be granted under this Plan to
any eligible Employee, unless and until the Company’s election of the type of Approved 102 Grants as CGG or OIG granted
to Employees (the “Election”), is appropriately filed with the ITA. Such Election shall become effective beginning
on the first Grant Date of an Approved 102 Grant under this Plan and shall remain in effect at least until the end of the year
following the year during which the Company first granted Approved 102 Grants (under this Plan or previous plans). The Election
shall obligate the Company to grant only the type of Approved 102 Grant it has elected, and shall apply to all Participants
who were granted Approved 102 Grants during the period indicated herein, all in accordance with the provisions of Section 102(g)
of the Ordinance. For the avoidance of doubt, such Election shall not prevent the Company from granting Unapproved 102 Grants
and/or 3(i) Grants simultaneously.

 

		4.6.	All Approved 102 Grants must be held in trust by a Trustee,
as described in Section 10 below.  

For the avoidance of doubt, the designation of Unapproved 102 Grants and Approved 102 Grants
shall be subject to the terms and conditions set forth in Section 102.

 

		5.	Administration of the Plan

 

		5.1.	Administrator. The Plan shall be administered by
the Administrator.

 

		5.2.	Authority of Administrator. The Administrator has
the authority, at its sole discretion, subject to any applicable law and regulations and consistent with the express provisions
of the Plan, to administer the Plan and to exercise all the powers and authorities either specifically granted to it under the
Plan or necessary or advisable in the administration of the Plan including, without limitation, the authority at its discretion
to (A) with respect to Options - determine the persons to whom Options are granted, the number of shares covered by each Option,
the time or times at which Options are granted, the Commencement Date and the Option Exercise Price, and any other term to be
included in the Grant Instrument which is permitted by the Plan; and (B) with respect to Restricted Shares and RSUs - determine
the persons to whom Restricted Shares or RSUs are granted, the number of Restricted Shares or RSUs awarded, the Commencement Date,
the price (if any) to be paid by the Participant for such Restricted Share or for the exercise of the RSUs (unless specified otherwise
in the Grant Instrument, the price will be zero), and any other term to be included in the Grant Instrument which is permitted
by the Plan. The Administrator has also the discretion to determine the performance targets of the Company and any of its Affiliates,
or any other criteria, if any, which must be met to remove any restriction (including vesting or earning period) on such Grant
and any other term, limitation, restriction, and condition of the Options, Restricted Shares or RSUs, which shall be consistent
with this Plan. The provisions of Options, Restricted Shares or RSUs need not be the same with respect to each Participant.

 

    	 	10	 

    

    

 

The Administrator also has the
power and authority to determine whether, to what extent, and under what circumstances an Option, an RSU or a Restricted Share
may be settled, canceled, exercised, forfeited, exchanged, accelerated, surrendered or returned to the Company; to construe and
interpret the Plan and any Grant Instrument and Granted Security; and to make all other determinations deemed necessary or advisable
for the administration of the Plan.

 

		5.3.	Interpretation and Construction. The interpretation
and construction by the Administrator of any provision of the Plan or of any Grant Instrument or Granted Securities thereunder
shall be final and conclusive.

 

		5.4.	Acceleration and Other Amendments. Save and except
for the provisions in Section 6 below whereupon the Administrator shall comply with the provisions therein, the Administrator
may, at its sole and absolute discretion, accelerate the date on which any Granted Security granted or earned under the Plan becomes
exercisable or earned, accelerate any Restriction Period, waive or amend the operation of Plan provisions respecting exercise
(or earning) after termination of employment, re-price the Option Exercise Price or the price (if any) payable for Restricted
Shares or RSUs, make the Granted Securities subject to the Plan in its form at the time of such waiver or amendment, or otherwise
amend any of the terms of any Grant Instrument or Granted Securities, subject to the provisions of the Tax Ordinance, provided,
however, that no such waiver or amendment shall adversely affect any Participant's rights under any outstanding Grant Instrument
or Granted Security under the Plan without the consent of such Participant.

 

		6.	Acceleration of vesting

 

The Administrator, in its
sole discretion, may decide to add a provision in certain Grant Instruments, according to which under certain circumstances, all
or some of the unvested Grant Securities, shall automatically accelerate.

 

		7.	Grants under the Plan; Grant Instrument

 

		7.1.	Eligible Grantees. Granted Securities may be granted to any Employee or Non- Employee of
the Company or any Affiliate selected by the Administrator. The grant of a Granted Security to a Participant shall neither entitle
such Participant to, nor disqualify him from, receiving any other grants of Granted Securities pursuant to the Plan or participating
in any other share option plan or other incentive plan. Any grant of Granted Securities under the Plan shall be in compliance with
the requirements under applicable laws and regulations (including any stock exchange rules), including by reason of their applicability
to the Company’s shareholders or otherwise.

 

		7.2.	Grant Instrument. Each Granted Security granted under the Plan shall be evidenced by a written
instrument signed by the Company and accepted in writing by the Participant which shall be accompanied by a copy of this Plan and
shall contain such provisions as the Administrator, at its sole discretion, may deem necessary or desirable (the "Grant
Instrument"). By accepting a Granted Security, a Participant thereby agrees that the Granted Security shall be subject
to all the terms and provisions of this Plan and the applicable Grant Instrument. Unless otherwise determined by the Administrator,
no payment is required to be made by a Participant on acceptance of an Option. Unless otherwise determined by the Administrator
in the Grant Instrument, no payment is required to be made by the Participant upon acceptance of Restricted Shares or RSUs. The
Grant Instrument shall also state the type of Granted Security granted thereunder (whether an Option, Restricted Share or RSU and
whether a CGG, OIG, Unapproved 102 Grant or a 3(i) Grant).

 

    	 	11	 

    

    

 

		8.	Granted Securities

 

		8.1.	Options

 

		8.1.1.	Exercise Price. The Administrator shall determine
the exercise price per Ordinary Share and whether or not it will be linked to a certain index or currency ("Option Exercise
Price"), subject to applicable law, regulations and guidelines. Unless otherwise provided in the Grant Instrument, the
Option Exercise Price shall be paid in NIS.

 

With respect to Cashless Options, the Option Exercise
Price per share set forth in the Grant Instrument (as adjusted from time to time) will not represent the actual amount to be paid
by the Participant to the Company for said Cashless Options, but will only be used for the purpose of calculating and determining
the number of Ordinary Shares to be issued to the Participant as the result of the exercise of a Cashless Option pursuant to the
Cashless Formula.

 

		8.1.2.	Vesting Schedule. The vesting schedule of Options
will be determined by the Administrator in its sole discretion and will be detailed in the Grant Instrument.

 

The vesting schedule shall commence on the Grant
Date and, subject to Section 6 above, shall elapse upon satisfaction of the conditions set forth in the Grant Instrument. Such
conditions may provide, without limitation, for vesting based on one or more of the followings: (i) length of continuous service,
(ii) achievement of specific business targets, (iii) changes in specified indices including but not limited to - changes in the
Company's share price, (iv) attainment of specified growth rates or Company’s valuation, and/or (v) other performance targets,
as may be determined by the Administrator at its sole discretion including but not limited to – an IPO in a foreign stock
exchange and/or a Corporate Transaction.

 

		8.1.3.	Exercise Period. The exercise period during which
an Option may be exercised will be determined by the Administrator and will not exceed ten years from the Grant Date or such shorter
period set forth in the Grant Instrument, unless shortened pursuant to the terms of this Plan. At the end of an Exercise Period,
all Options granted which were not exercised will expire and be cancelled.

 

		8.1.4.	Minimum Exercise. No exercise of Options by a Participant,
shall be for an aggregate exercise amount of less than 1,000 options unless such exercise is for all shares of the Company purchasable
upon exercise of the Options held by a Participant (or by the Trustee on his behalf) which have vested as of such date. The partial
exercise of an Option shall not cause the expiration, termination or cancellation of the remaining unexercised portion of such
Option.

 

    	 	12	 

    

    

 

		8.1.5.	Method of Exercise. An Option, or any part thereof,
shall be exercised by (i) the Participant’s signing and delivering to the Company at its principal office, to the attention
of its CFO or VP Finance (with a copy of such notice to the Trustee, if the Option is held in trust), an exercise notice (“Notice
of Exercise”) in such form and substance as may be prescribed by the Administrator from time to time, and (ii) full
payment for the Ordinary Shares purchased upon the exercise of an Option. Payment shall be made on the date of delivery of the
Notice of Exercise or on a later date, if so determined by the Administrator, by the following means: (x) in cash, by certified
check, bank cashier's check or wire transfer, or (y) subject to the approval of the Administrator, by such other method of payment
as the Administrator may from time to time authorize.

 

		8.1.6.	Cashless Exercise. Notwithstanding the provisions
of Section 8.1.5 above, the Administrator may, at its discretion, resolve that the exercise of vested Options will be done either
(x) in cash; or (y) through a cashless exercise procedure, pursuant to which each vested Option will entitle its holder to the
right to purchase Ordinary Shares (subject to the adjustments described in Section 3.2 or 8.1.1 above), in accordance with the
Cashless Formula (“Cashless Options”). Unless otherwise stated in the Grant Instrument, vested Options
may only be exercised through a cashless exercise procedure.

 

The Participant may exercise vested Cashless Options
by signing and delivering to the Company at its principal office, to the attention of its CFO or VP Finance (or to the Trustee,
if the Option is held in trust), a Notice of Exercise in such form and substance as may be prescribed by the Administrator and
act in accordance with the provisions of Section 29 below.

 

The Administrator or someone designated by it and/or the Trustee
will make all applicable calculations with respect to the Option Exercise Price and determine the amount of Ordinary Shares issued
or to be issued upon exercise of the vested Options, all in accordance with the Plan on the date on which the Notice of Exercise
has been delivered (as specified in Section 8.1.5 above, and if such date is not a business day, the first business day following
such date) ("Notice Date") including the applicable exchange rate in effect on the Notice Date and such calculation
will be binding on the Participants.

 

		8.1.7.	Exercise Shares. Except for any applicable provisions
of the Tax Ordinance or relevant securities laws or the relevant stock exchange rules or specific provisions of this plan, the
Ordinary Shares and any other securities issued to a Participant (or the Trustee on his behalf) upon Option exercise shall be
subject to the articles of association of the Company from time to time in force (including, without limitation, provisions relating
to voting and dividend) and shall be free and clear of any transfer restrictions (except to the extent applicable pursuant to
the Company’s articles of association and/or the relevant Grant Instrument and/or applicable law); pledges, encumbrances
or liens; and other third party rights of any kind.

 

    	 	13	 

    

    

 

		8.2	Restricted Shares

 

		8.2.1	Restricted Shares Legend on Shares . Each Participant
who is awarded Restricted Shares shall be issued the number of Ordinary Shares specified in the Grant Instrument for such Restricted
Shares, and such Ordinary Shares shall be recorded in the Shareholder Registry of the Company. Such Ordinary Shares shall be issued
to the Trustee and held for the benefit of the Participant subject to the terms, conditions, and restrictions applicable to such
Restricted Shares. The Restricted Shares will be held in custody by the Trustee until the restrictions thereon shall have lapsed.
The Participant shall deliver to the Administrator a share power or share powers, irrevocably endorsed to the Trustee, relating
to the Restricted Shares. It is expected that as long as Restricted Shares are held by the Trustee, the Trustee shall not exercise
the voting rights of the underlying Ordinary Shares unless requested to do so by the Company. In such event, the Trustee shall
vote the underlying Ordinary shares proportionally as the Shareholders vote and if the vote of public shareholders is counted
separately, proportionally to the public shareholders vote. Notwithstanding the foregoing, the Company reserves the right to request
the Participant to exercise his or her voting rights.

 

		8.2.2	Restrictions and Conditions. Restricted Shares shall be subject to the following restrictions
and conditions:

 

		(i)	Subject to the other provisions of this Plan and the terms of the Participant's Grant Instrument,
during such period as may be determined by the Administrator commencing on the Grant Date (the “Restriction Period"),
the Participant shall not be permitted to sell, transfer, pledge or assign Restricted Shares.

 

		(ii)	Except as provided in subparagraph (i) above and subject to the terms of this Plan and the Participant’s
Grant Instrument the Restricted Shares shall have the rights of a shareholder of the Company, including the right to vote the Ordinary
Shares (endorsed to the Trustee as long as the Restricted Shares are held by the Trustee), and the equity rights attached to the
Restricted Shares (subject to the provisions of Section 3.2 above). Ordinary Shares forfeited under the provisions of the Plan
shall be promptly returned to the Company by the Trustee. Each Participant, by his or her acceptance of Restricted Shares, shall
irrevocably grant to the Company a power of attorney to transfer and return any Ordinary Share so forfeited to the Company and
agrees to execute any document requested by the Company in connection with such forfeiture and transfer.

 

		(iii)	The Restriction Period of Restricted Shares shall commence
on the Grant Date and, subject to Section 6 above, shall elapse upon satisfaction of the conditions set forth in the Grant Instrument;
such conditions may provide for vesting based on (i) length of continuous service, (ii) achievement of specific business targets,
(iii) increases in specified indices, (iv) attainment of specified growth rates, or (v) other performance targets, as may be determined
by the Administrator at its sole discretion.

 

		8.3.	Restricted Share Units (“RSUs”)

 

		8.3.1	Exercise Price. The Administrator shall determine
the exercise price per Ordinary Share and whether or not it will be linked to a certain index or currency ("RSU Exercise
Price"), subject to applicable law, regulations and guidelines, but unless otherwise determined the RSU Exercise Price
shall be zero.

 

		8.3.2	Vesting Schedule. The vesting schedule of RSUs will
be determined by the Administrator in its sole discretion.

 

The vesting schedule shall
commence on the Grant Date and, subject to Section 6 above, shall elapse upon satisfaction of the conditions set forth in the Grant
Instrument; such conditions may provide for vesting based on (i) length of continuous service, (ii) achievement of specific business
targets, (iii) increases in specified indices including without limitation - changes in the Company's share price, (iv) attainment
of specified growth rates, or (v) other performance targets, as may be determined by the Administrator at its sole discretion including
but not limited to – an IPO in a foreign stock exchange and/or a Corporate Transaction.

 

    	 	14	 

    

    

 

The vesting terms of any RSU
will be detailed in the Grant Instrument.

 

		8.3.3	Exercise Period. The exercise period during which
an RSU may be exercised will be determined by the Administrator (considering, if applicable, inter alia, the provisions
of the Compensation Policy) and will not exceed ten years from the Grant Date or such shorter period set forth in the Grant Instrument,
unless shortened pursuant to the terms of this Plan. At the end of an Exercise Period, all RSUs granted which were not exercised
will expire and be cancelled.

 

		8.3.4	Method of Exercise. An RSU, or any part thereof,
shall be exercised by (i) the Participant’s signing and delivering to the Company at its principal office, to the attention
of its Secretary (or to the Trustee, if the RSU is held in trust), an exercise notice (“Notice of Exercise”)
in such form and substance as may be prescribed by the Administrator from time to time, and (ii) full payment of the RSU Exercise
Price for the Ordinary Shares purchased upon the exercise of an RSU to the extent applicable. Payment shall be made on the date
of delivery of the Notice of Exercise or on a later date, if so determined by the Administrator, by the following means: (x) in
cash, by certified check, bank cashier's check or wire transfer, or (y) subject to the approval of the Administrator, by such
other method of payment as the Administrator may from time to time authorize.

 

		8.3.5	Restriction on Transfer and Sale. The Administrator
may determine that the Shares covered by an RSU shall be restricted as to transferability and sale. If so restricted, such Shares
shall not be sold, transferred, or disposed of in any manner, and such Shares shall not be pledged or otherwise hypothecated
until the restriction expires by its terms. The circumstances under which any such restriction shall expire and any applicable
sanction shall be determined by the Administrator.

 

		8.3.6	Shareholder Rights. Unless otherwise specified in
a Grant instrument, a Participant shall not be entitled to receive dividends, exercise voting rights, or exercise any other rights
of a shareholder with respect to RSUs (except that the RSUs will be subject to the adjustment specified in Section 3.2 above)
until the RSUs have vested and the Shares in question have been issued by the Company.

 

		8.4	Notwithstanding any provisions of this Plan, as long as
the Company's shares are traded on the Tel Aviv Stock Exchange Ltd., the Participant may not exercise any Option and/or RSU granted
under this Plan on the record date (in the Tel Aviv Stock Exchange Ltd.) of any one of the following events: (i) distribution
of bonus shares; (ii) rights offering; (iii) distribution of dividend; (iv) consolidation of share capital; (v) split of share
capital; (vi) reduction of capital (each of the above will be referred to below as a "Company Event"). In addition,
in the event the ex-day (as defined in the Tel Aviv Stock Exchange Ltd. regulations) of a Company Event precedes the record date
of such Company Event, the Options and RSUs granted under this Plan may not be exercised on such ex-day.

 

		8.5	Waiver of Grant Rights. At any time prior to the
expiration of any Option or RSU, or, the elapsing of the Restriction Period of any Restricted Share as applicable, a Participant
may waive all rights attributable to such Granted Security by delivering a written notice to the Company's principal office, to
the attention of its CFO or VP Finance. Such notice shall be accompanied by the applicable Grant Instrument, shall specify the
number of Ordinary Shares subject to or underlying the Granted Security with respect to which the Participant waives his rights
and shall be signed by the Participant. Upon receipt by the Company of the notice of waiver with respect to any Granted Security,
such Granted Securities shall expire or returned to the Company (as the case may be) with respect to the number of Ordinary Shares
specified therein, and an amended Grant Instrument will be issued with respect to any Granted Security (or portion thereof) covered
by the Grant Instrument as to which rights attributable thereto were not waived.

 

    	 	15	 

    

    

 

		8.6	Notices. All notices delivered by a Participant
hereunder shall be signed by the Participant. Any notice if sent by the Participant shall be irrevocable and shall not be effective
until actually received by the Company.

 

		9.	Termination of Employment or Service

 

		9.1.	Voluntary Termination by Participant. In the event
that a Participant's employment with or service to the Company or any Affiliate (as the case may be) is terminated by the Participant
voluntarily for any reason other than Retirement, Disability or death: (i) Options or RSUs granted to such Participant, to the
extent vested at the time of termination of employment or service, shall be exercisable for a period of 90 days following either
termination or the date upon which the Participant may freely sell Ordinary Shares acquired upon Option or RSU exercise, the later
date of the two; (ii) Restricted Shares granted to such Participant, to the extent earned at the time of termination of employment
or service, shall be owned by the Participant following termination; and (iii) Granted Securities granted to such Participant,
to the extent that they were not vested or earned at the time of termination of employment or service, shall expire at the time
of termination (in the case of Options and RSUs) or returned to the Company (in the case of Restricted Shares).

 

		9.2.	Termination by the Company or an Affiliate Other Than
For Cause. In the event that a Participant's employment with or service to the Company or any Affiliate (as the case may be)
is terminated by the Company or such Affiliate for any reason other than for Cause: (i) Granted Securities granted to such Participant,
to the extent vested or earned at the time of termination of employment or service, shall be exercisable for a period of 90 days
following termination, and (ii) Granted Securities granted to such Participant, to the extent that they were not vested or earned
at the time of termination of employment or service, shall expire at such time (in the case of Options and RSUs) or returned to
the Company (in the case of Restricted Shares).

 

		9.3.	Termination By Reason of Retirement, Death or Disability.
In the event that a Participant's employment with or service to the Company or any Affiliate (as the case may be) terminates
by reason of the Retirement, Disability or death of the Participant: (i) Granted Securities granted to such Participant, to the
extent vested or earned at the time of termination of employment or service, shall be exercisable during the remainder of their
exercise period (in the case of Options or RSUs) or be owned by Participant at the time of termination of employment (in the case
of Restricted Shares), and (ii) Granted Securities granted to such Participant, to the extent that they were not vested or earned
at the time of termination of employment or service, shall expire at such time (in the case of Options and RSUs) or returned to
the Company (in the case of Restricted Shares); provided, however, that in case of death or disability a pro rata portion
of the Granted Securities that would have become vested or earned during the period of time until the next anniversary of the
Commencement Date (but for such termination of employment or service) shall become vested or earned on the date of such termination
of employment or service and shall be exercisable during the remainder of their Exercise Period (in the case of Options and RSUs)
or owned by the Participant on the date of such (in the case of Restricted Shares). Such pro rata portion shall be determined
by multiplying the number of unvested or unearned Granted Securities scheduled to vest during the period of time until the next
anniversary of the Commencement Date by a fraction, the numerator of which is the number of full and partial months which the
Participant has been employed with or gave services to the Company or any Affiliate since the most recent anniversary of the Commencement
Date (or, if less than one year has elapsed since the Commencement Date, since the Commencement Date) and the denominator of which
is twelve, rounded down to the nearest whole number.

 

    	 	16	 

    

    

 

		9.4.	Termination for Cause. In the event a Participant's
employment with or service to the Company or any Affiliate (as the case may be) is terminated for Cause, all outstanding Options
and RSUs granted to such Participant (i.e., whether vested or not) shall expire upon the termination of employment or service
and all Restricted Shares (i.e., whether earned or not) (unless any of the above was released from the Trustee to the Participant)
shall be returned to the Company. A Participant shall be entitled to challenge the Administrator’s determination that a
termination is for Cause, in which case, the final determination shall be made by a court of competent jurisdiction and until
that time, all Granted Securities will remain with the Trustee.

 

		9.5.	Expiration of Term. Notwithstanding anything to
the contrary in this Section 9, no Option or RSU shall be exercisable after the expiration of its Exercise Period.

 

		9.6.	Continuation of Employment or Service. Notwithstanding
anything to the contrary in this Plan, for the purpose of this Plan, employment by or service to the Company and any Affiliate
shall be deemed continuous employment or service, and the move of a Participant as an employee or service provider between the
Company and any Affiliate (or among the Affiliates) shall not be deemed termination of employment or service under this Plan.

 

		10.	Trust Arrangement

 

		10.1.	Notwithstanding anything to the contrary in this Plan,
Approved 102 Grants which shall be granted under this Plan and any Ordinary Shares allocated or issued upon exercise or earning
of such Approved 102 Grants and other rights, including without limitation underlying securities of a rights offering, bonus shares
and dividends, shall be allocated or issued to the Trustee and held for the benefit of the Participants for such period of time
as required by Section 102 or any regulations, rules or orders or procedures promulgated thereunder (the “Holding Period”).

 

		10.2.	With respect to any Approved 102 Grant, subject to Section
102 and the Rules, Participants shall not be able to receive from the Trustee, nor shall they be able to sell or dispose of Ordinary
Shares or any rights, including bonus shares, before the end of the applicable Holding Period. If a Participant sells or removes
the Shares from the Trustee before the end of the applicable Holding Period (“Breach”), the Participant shall
pay all applicable taxes imposed on such Breach by Section 7 of the 102 Rules.

 

		10.3.	Until all taxes have been paid in accordance with Section
7 of the 102 Rules, Granted Securities and Ordinary Shares may neither be transferred to the Participant, nor be sold, transferred,
assigned, pledged, encumbered, or otherwise willfully hypothecated or disposed of, and no power of attorney or deed of transfer,
whether for immediate or future use may be validly given by the Participant. Notwithstanding the foregoing, the Granted Securities
and Ordinary Shares may be validly transferred in a transfer made by will or laws of descent, provided that the transferee thereof
shall be subject to the provisions of Section 102 and the Section 102 Rules as would have been applicable to the deceased Participant
were he or she to have survived.

    	 	17	 

    

    

 

		10.4.	Upon receipt of Approved 102 Grant, the Participant will
sign an undertaking to release the Trustee from any liability in respect of any action or decision duly taken and bona fide executed
in relation with this Plan, or any Approved 102 Grant or Ordinary Share granted to him thereunder.

 

		11.	Rights as a Shareholder

 

No Participant shall have any rights as a shareholder with respect
to any Ordinary Shares or other securities of the Company covered by or relating to any Option or RSU, whether or not exercisable,
until the due issuance of such shares by the Company. Ordinary Shares to be issued under the Plan will be subject to all provisions
of the Articles of Association of the Company for the time being in force and, with respect to Restricted Shares, also subject
to the terms and conditions of this Plan and the Grant Instrument, and will rank pari passu in all respects with the then
outstanding Ordinary Shares on the date in which the Option or the RSU is duly exercised ("Exercise Date") (with
respect to Options and RSUs) or the date of issuance of Restricted Shares (with respect to Restricted Shares) and accordingly will
entitle the holders thereof to participate in all dividends or other distributions paid or made on or after the Exercise Date (or,
subject to earning of the underlying Restricted Shares, the issuance date thereof) other than any dividend or other distribution
previously declared or recommended or resolved to be paid if the record date therefor shall be before the Exercise Date (or issuance
date, as the case may be). An Ordinary Share issued upon the exercise of an Option or an RSU shall not carry voting rights until
the Participant has been duly entered in the register of shareholders of the Company as the holder thereof. Notwithstanding the
foregoing, a Participant awarded Restricted Shares shall (i) endorse the voting rights of the underlying Ordinary Shares to the
Trustee, as set in Section 8.2.1 above; and (ii) receive dividends or any other awards, with respect to such shares (which shall
be held in trust by the Trustee as long as the respective underlying Restricted Shares are held by the Trustee and subject to release
of the underlying shares to the Participant).

 

		12.	No Special Employment or Service Rights; No Right
to Granted Securities

 

Nothing contained in this Plan or any Grant Instrument shall
confer upon any Participant any right with respect to the continuation of employment by or service to the Company or any Affiliate
or interfere in any way with the right of the Company or any Affiliate, subject to the terms of any separate employment or service
agreement, at any time to terminate such employment or service, or to increase or decrease the compensation of or payment to the
Participant. The Plan shall not form part of any contract of employment. No person shall have any claim or right to receive any
shares hereunder except in accordance with the express terms of this Plan and a Grant Instrument issued to such person.

 

		13.	Tax Matters

 

		13.1.	This Plan shall be governed by, and shall be conformed
with and interpreted so as to comply with, the requirements of Section 3(i) or Section 102 of the Tax Ordinance (as the case may
be) and any regulations, rules, orders, or procedures promulgated thereunder.

 

		13.2.	Any tax consequences arising from the grant or exercise
of any Grant, from the payment for Ordinary Shares covered thereby or from any other event or act (of the Company, and/or its
Affiliates, and the Trustee – if applicable - or the Participant), hereunder, shall be borne solely by the Participant.
The Company and/or its Affiliates, and/or the Trustee shall withhold taxes according to the requirements under the applicable
laws, rules, and regulations, including withholding taxes at source. Furthermore, the Participant shall agree to indemnify the
Company and/or its Affiliates and/or the Trustee and hold them harmless against and from any and all liability for any such tax
or interest or penalty thereon, including without limitation, liabilities relating to the necessity to withhold, or to have withheld,
any such tax from any payment made to the Participant.

 

    	 	18	 

    

    

 

		13.3.	The Company and/or, when applicable, the Trustee shall
not be required to release any shares to a Participant until all required payments have been fully made.

 

		13.4.	With respect to Unapproved 102 Grants, if the Participant
ceases to be employed by the Company or any Affiliate, the Participant shall extend to the Company and/or its Affiliate a security
or guarantee for the payment of tax due at the time of sale of Shares, all in accordance with the provisions of Section 102 and
the rules, regulation or orders promulgated thereunder.

 

		14.	Withholding Taxes

 

Whenever cash is to be paid pursuant to a Grant, the Company
shall have the right to deduct from such payment an amount sufficient to satisfy any applicable withholding tax requirements related
thereto. Whenever Ordinary Shares or any other non-cash assets are to be delivered pursuant to a Grant, the Company shall have
the right to require the Participant to remit to the Company in cash an amount sufficient to satisfy any applicable withholding
tax requirements related thereto or to provide it with any other security or guarantee acceptable to the Company, and if such amount
of cash is not timely remitted, to withhold such Ordinary Shares or any other non-cash assets pending payment by the Participant
of such amounts.

 

		15.	Transfers upon Death; Non-Assignability; Market Stand
-Off; Non-Public Information

 

		15.1.	Death. No transfer of a Granted Security by will
or by the laws of descent and distribution shall be effective to bind the Company unless the Company shall have been furnished
with: (a) written notice thereof and with a copy of the relevant section of the will relating to the bequest of the Granted Security,
certified by a notaryand/or such other evidence as the Administrator may deem necessary to establish the validity of the transfer;
and (b) a written consent by the transferee to pay the Option or RSU Exercise Price upon exercise of the Option or the RSU, if
any, and otherwiseabide by the terms set forth in this Plan and in the relevant Grant Instrument.

 

		15.2.	Non-Assignability.

 

		15.2.1.	Notwithstanding any other provision of the Plan, no Granted
Security or any right with respect thereto, purchasable hereunder, whether fully paid or not, shall be assignable, transferable
or given as collateral or any right with respect to them given to any third party whatsoever, and during the lifetime of the Participant
each and all of such Participant's rights to purchase Ordinary Shares hereunder shall be exercisable or taken only by the Participant.
Any such action made directly or indirectly, for an immediate validation or for a future one, shall be void and shall entitle
the Company to cancel any Granted Security granted to such Participant to the extent not already exercised or earned (as the case
may be).

 

		15.2.2.	As long as Options, RSUs or Ordinary Shares purchased pursuant
thereto or Restricted Shares are held by the Trustee on behalf of the Participant, all rights of the Participant over the shares
are personal, cannot be transferred, assigned, pledged or mortgaged, other than by will or laws of descent and distribution.

 

    	 	19	 

    

    

 

		15.3.	Market Stand-Off; Non-Public Information.

 

In connection with any underwritten public offering by the Company
of its equity securities pursuant to an effective registration statement filed under any applicable law in any jurisdiction, the
Participant shall not directly or indirectly sell, make any short sale of, loan, hypothecate, pledge, offer, grant or sell any
Granted Securities or other contract for the purchase of, purchase any or other contract for the sale of, or otherwise dispose
of or transfer, or agree to engage in any of the foregoing transactions with respect to, any Ordinary Shares acquired under this
Plan without the prior written consent of the Company or its underwriters. Such restriction (the “Market Stand-Off”)
shall be in effect for such period of time following the date of the final prospectus for the offering as may be requested by the
Company or such underwriters. In the event of the declaration of a stock dividend, a spin-off, a stock split, an adjustment in
conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities without receipt
of consideration, any new, substituted or additional securities which are by reason of such transaction distributed with respect
to any Granted Securities and/or Ordinary Shares acquired under this Plan shall immediately be subject to the Market Stand-Off.
In order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect to the Ordinary Shares
acquired under this Plan until the end of the applicable stand-off period. The Company’s underwriters shall be beneficiaries
of the agreement set forth in this Subsection. Furthermore, the Participant’s right to sell Ordinary Shares is subject to
Applicable Laws, including in connection with limitation relating to the use of non-public information, if and when applicable.

 

		16.	Expenses and Receipts

 

The expenses incurred in connection with the administration
and implementation of the Plan (excluding any taxes and other liabilities to which the Participant is subject as a result of his
or her participation in the Plan) shall be paid by the Company. Any proceeds received by the Company in connection with the exercise
or earning of any Granted Security may be used for general corporate purposes.

 

		17.	Term and Termination

 

		17.1.	Term of Plan. Granted Securities may be granted
at any time after: (i) the Effective Date (ii) (for CGG or OIG Options) the Trustee has been approved by the Israeli Income Tax
Authorities pursuant to the requirements of the Tax Ordinance, and (iii) any other approvals or consents required by law have
been received, until the Termination Date after which period no further Granted Securities may be issued but the provisions of
the Plan shall remain in full force and effect to the extent necessary to give effect to the exercise of any Option or RSU granted
or exercised prior thereto, to the earning of any Restricted Share granted prior thereto or otherwise as may be required in accordance
with the provisions of the Plan.

 

		17.2.	The Administrator may, at any time and from time to time, terminate the Plan in any respect, subject
                                                                                                                        to any applicable approvals or consents that may be otherwise required by law, regulation or agreement, including by reason of their
                                                                                                                        applicability to its shareholders or otherwise, and provided that no termination of the Plan shall adversely affect the terms of any
                                                                                                                        Granted Security which has already been granted. Upon such termination, no further Granted Securities will be offered under the
                                                                                                                        Plan, but in all other respects the provisions of the Plan shall remain in force to the extent necessary to give effect to the
                                                                                                                        exercise or earnings of any Granted Security (to the extent not already exercised or earned) granted prior thereto or otherwise as
                                                                                                                        may be required in accordance with provisions of the Plan and Granted Securities (to the extent not already exercised or earned)
                                                                                                                        granted prior to such termination shall continue to be valid and exercisable or earnable in accordance with the Plan.

 

    	 	20	 

    

    

 

		18.	Amendment of the Plan

 

		18.1.	Subject to other sections of the Plan, applicable law and
the rules and regulations of any stock exchange applicable from time to time to the Company, by reason of their applicability
to its shareholders or otherwise, the Administrator may resolve to: (i) alter or amend the Plan in any respect; (ii) alter or
amend the terms of any outstanding Grant Instrument, provided, however, that no such alteration or amendment shall adversely affect
any Participant's rights under any outstanding Grant Instrument without the consent of such Participant.

 

		18.2.	The terms of the Plan and/or any Granted Security amended
pursuant to this Section 18 must comply with the applicable rules and/or regulations of any stock exchange applicable from time
to time to the Company, by reason of their applicability to its shareholders or otherwise.

 

		19.	Failure to Comply

 

In addition to the remedies of the Company elsewhere provided
for herein, failure by a Participant to comply with any of the terms and conditions of the Plan or the applicable Grant Instrument
shall be grounds for the cancellation and forfeiture of such Option or RSUs or the return to the Company of such unearned Restricted
Share, in whole or in part, as the Administrator, at its absolute discretion, may determine, provided however, that such failure
is not remedied by such Participant within ten days after notice by the Company of such failure.

 

		20.	Required Approvals and Restrictions under the Company's
Licenses

 

The Plan is subject to the receipt, and the terms, of all approvals
and permits required under any applicable law or by regulatory authorities having jurisdiction over the Plan the Granted Securities,
or the Ordinary Shares issued upon exercise of Options or RSUs or as Restricted Shares.

 

Notwithstanding anything to the contrary in this Plan, if any
of the approvals or permits required for the Grant of the Granted Securities or for their exercise or receipt, will not be obtained
for any reason, the Participant will not be entitled to exercise or receive said Granted Securities. In addition, the Company (including
its office holders, controlling shareholders or related third parties on their behalf) will not be liable towards the Participant
and the Participant will not have any claim or allegation for not obtaining said approvals and permits.

 

		21.	Extension of Exercise Period

 

In the event the Exercise Period will end during a period which
was determined by the Company as a lock up period (including but not limited to: (i) because of the existence or potential existence
of inside information; (ii) because of a lock up in connection with a public offering in a Stock Exchange) (the "Blackout
Period"), then subject to the satisfaction of all other terms of this Plan, the Exercise Period shall be automatically
extended, without the need to receive additional decisions of the Committee or the Board of Directors, by such number of days as
of the beginning of the Blackout Period and until the earlier of: (i) the date that the Blackout Period ended; (ii) end of the
exercise period of the Granted Securities.

 

		22.	Applicable Law

 

The Plan and all instruments issued thereunder or in connection
therewith, shall be governed by, and construed and administered in accordance with the laws of the State of Israel.

 

    	 	21	 

    

    

 

		23.	No Rights against the Company or an Affiliate

 

This Plan shall not confer on any person any legal or equitable
rights (other than those constituting the Granted Securities themselves) against the Company or any Affiliate directly or indirectly
or give rise to any cause of action at law or in equity against the Company or any Affiliate.

 

		24.	Treatment of Participants

 

There is no obligation for uniformity of treatment of Participants.

 

		25.	Cancelled

 

		26.	No Fractional Shares

 

Notwithstanding any provision of this Plan, no fractional shares
shall be issued or delivered upon exercise of an Option or an RSU or granted as a Restricted Share and the number of Ordinary Shares
granted or issued under this Plan to any Participant shall be rounded down to the nearest whole number.

 

		27.	Cancelled

 

		28.	Integrationof Section 102 and Tax Assessing Officer’s
Permit

 

		28.1.	With regards to Approved 102 Grants, the provisions of
the Plan and/or the Grant Instrument shall be subject to the provisions of Section 102 and the Tax Assessing Officer’s permit,
and the said provisions and permit shall be deemed an integral part of the Plan and of the Grant Instrument.

 

		28.2.	Any provision of Section 102 and/or the said permit which
is necessary in order to receive and/or to keep any tax benefit pursuant to Section 102, which is not expressly specified in the
Plan or the Grant Instrument, shall be considered binding upon the Company and the Participants.

 

		29.	Issuance of Ordinary Shares for no Consideration

 

To the extent the Company is required to issue Ordinary Shares
under this Plan (whether as a direct issuance or as a result of exercise of Options or RSUs) for no consideration, the Company
at its sole and absolution discretion (by way of a resolution of the Administrator) may obligate the Participant to pay the higher
of: (i) the nominal par value of the Ordinary Shares issued; (ii) minimum price according to the Stock Exchange by laws (if and
to the extent that the Stock Exchange by laws indeed imposes such a limitation on such an issuance of Ordinary Shares); and in
such event the Ordinary Shares will not be issued (and the Options and RSUs will not be exercised) prior to the payment of such
nominal par value.

 

		30.	Confidentiality

 

The Participant shall not divulge the details of the Plan and/or
his holdings to any person except with the prior written permission of the Company, unless so required to do under any statutes
or regulations applicable to such Participant.

 

		31.	Restrictions on Sale

 

Unless stated otherwise in the Grant Instrument,
all shares resulting from the exercise of Options and RSUs together with the Restricted Shares (collectively "Exercise
Shares") shall be subject to the following restrictions on sale on the Stock Exchange:

 

    	 	22	 

    

    

 

		31.1.	All Exercise Shares shall remain held by the Trustee (and
will not be released to theParticipant) until they are sold (on or off the Stock Exchange) by the Trustee in accordance with the
instructions of the participant.

 

		31.2.	The total number of Exercise Shares sold (or otherwise
disposed) for the account of the Participants, collectively, on the Stock Exchange in any given Trading Day, shall not exceed
the average daily reported volume of trading in the Company's shares on the Stock Exchange during the 30 Trading Days preceding
the date of execution of the sale (the "Maximum Amount").

 

		31.3.	If and to the extent that the Trustee shall receive requests
from Participants to sell Exercise Shares, on a certain day, in a total amount that exceeds the Maximum Amount, then the Trustee
shall only sell the Maximum Amount of Exercise Shares where each Participant's sale request will be partially executed (pro rata
to the number of Exercise Shares that the Participant requested to sell out of the total amount of Exercise Shares that all the
Participants requested to sell on that day).

 

		31.4.	For the purposes of this Section, all calculations will
be done by the Company and the Trustee. Calculation will be final, and the Participants shall have no claims or demands against
the Company and/or the Trustee or anyone on their behalf. 

 

The Administrator may resolve, in its sole discretion, to amend or update
the above restrictions from time to time and to apply such revised restriction to both future grants and to existing Granted Securities.

 

		32.	Currency exchange

 

Unless otherwise stated in the Grant Instrument, if there will
be a need to convert a certain amount (exercise price and/or share price, etc.) from Shekel to Dollar or vice versa, then the conversion
will be carried out according to the last exchange rate published by the Bank of Israel prior to the relevant date or according
to the average of such exchange rates during a longer period, as determined by the Administrator.

 

		33.	Disputes

 

The Board of Directors of the Company ("Board")
shall have full and exclusive authority to rule in any dispute with the Participants (or any one on his behalf) in connection with
and/or arising from the allocation of the Granted Securities.

 

All the rulings of the Board will be final and binding to both Company
and the Participant, and the Participant shall have no claims or demands against the Company/Trustee or anyone on their behalf.

 

		34.	No Obligation to Notify.

 

The Company shall have no duty or obligation to any Participant
to advise such holder as to the time or manner of exercising the Granted Securities. Furthermore, the Company shall have no duty
or obligation to warn or otherwise advise such holder of a pending termination or expiration of Granted Securities or a possible
period in which the Granted Securities may not be exercised. The Company has no duty or obligation to minimize the tax consequences
of Granted Securities to the holder of such Shares Award

 

*        *

 

    	 	23

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