Document:

EX-10.3

 Exhibit 10.3 

This VOTING AND SUPPORT AGREEMENT, dated December 5, 2016 (this “Agreement”) is by and between Forest
City Realty Trust, Inc. (the “Company”), on the one hand, and Scopia Capital Management LP and Scopia Management, Inc. (“Scopia Management”), on behalf of themselves and their Affiliates, on the other (Scopia Capital
Management LP and Scopia Management, together with their Affiliates, the “Scopia Parties”). 
 WHEREAS,
concurrently with the execution of this Agreement, the Company is entering into the Reclassification Agreement, pursuant to which, among other things, the Company has agreed to effect the Reclassification on the terms and subject to the conditions
set forth therein; and 
 WHEREAS, the Company desires to obtain the Scopia Parties’ support of the Reclassification
and other agreements set forth in the Reclassification Agreement, and the Scopia Parties’ desire that the Company effect the same. 

NOW, THEREFORE, in consideration of and reliance upon the mutual covenants and agreements contained herein, and for other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

Section 1.         Representations and Warranties of the Company. The
Company represents and warrants to the Scopia Parties that this Agreement has been duly authorized, executed and delivered by the Company, and is a valid and binding obligation of the Company, enforceable against the Company in accordance with its
terms. 
 Section 2.         Representations and Warranties of the Scopia
Parties. The Scopia Parties represent and warrant to the Company that this Agreement has been duly authorized, executed and delivered by the Scopia Parties, and is a valid and binding obligation of the Scopia Parties, enforceable against the
Scopia Parties in accordance with its terms. The Scopia Parties represent and warrant to the Company that the Scopia Parties and their Associates (as such terms are hereinafter defined) are the “beneficial owners” (as such term is
hereinafter defined) of 20,315,514 shares of the Company’s Class A Common Stock, par value $0.01 per share (“Class A Common Stock”) and no shares of the Company’s Class B Common Stock, par value $0.01 per share
(“Class B Common Stock,” and together with the Class A Common Stock, the “Common Stock”), and that all such shares of Common Stock are held in a Net Long Position (as such term is hereinafter defined). 

Section 3.         Voting and Support. 

(a)         During the Voting and Support Period (as such term is hereinafter
defined), the Scopia Parties hereby irrevocably and unconditionally agree, (I) at the Company’s 2017 annual meeting of stockholders and (II) at any special meeting of Company stockholders called for the purposes of obtaining Requisite
Stockholder Approval (as such term in hereinafter defined), however called, including any postponement or adjournment thereof, in each case to the extent relating to or reasonably expected to affect or concern the Reclassification, that the Scopia
Parties shall cause all shares of Common Stock beneficially owned, directly or indirectly, by them, and by any of their Associates as of the record dates for any annual or special meeting of Company stockholders, to appear, in person or by proxy, at
each such meeting or otherwise 

 
cause such shares of Common Stock to be counted as present thereat for purposes of determining a quorum, and vote (or cause to be voted), in person or by proxy (returned sufficiently in advance
of the deadline for proxy voting for the Company to have the reasonable opportunity to verify receipt), such shares of Common Stock (A) in favor of any and all persons nominated by the Board of Directors of the Company (the
“Board”) for election as directors at such meetings, provided, that such nominees are selected in accordance with Section 5.8 of the Reclassification and at least eight of the thirteen nominees have been determined to be
independent directors by the Board in accordance with relevant stock exchange rules, (B) in favor of approving the Proposed Amendments and any action reasonably requested by the Company in furtherance of the foregoing, including any proposal to
postpone or adjourn any meeting of Company stockholders at which the Proposed Amendments are submitted for the consideration and vote of Company stockholders to a later date if there are not sufficient votes for approval of such matters or to
establish a quorum on the date on which the meeting is held, (C) unless otherwise directed in writing by the Special Committee, against any action, agreement or transaction that would reasonably be expected to (1) be inconsistent with or
contrary to the terms and conditions of the Proposed Amendments or (2) result in any of the conditions set forth in Article VI of the Reclassification Agreement not being satisfied on or before the Outside Date, (D) unless otherwise
directed in writing by the Special Committee, against any change in the Board, provided, that the nominees selected by the Company are selected in accordance with Section 5.8 of the Reclassification Agreement and at least eight of the
thirteen nominees have been determined to be independent directors by the Board in accordance with relevant stock exchange rules, and (E) against any other action, agreement or transaction involving the Company or any of its subsidiaries or the
Board that is intended, or would reasonably be expected, to prevent or impair or delay the consummation of the Reclassification or the other transactions contemplated by the Reclassification Agreement or the performance by the Company of its
obligations under the Reclassification Agreement, including any change in the present capitalization of the Company or any amendment or other change to the charter of the Company (other than the Proposed Amendments) or the Company bylaws. 

(b)         During the Voting and Support Period, the Scopia Parties further agree
not to, and shall cause their Associates not to, directly or indirectly and in any manner, (A) submit any proposal for consideration by, or bring any other business before, the Company stockholders or initiate, encourage or participate in any
“Withhold” or similar campaign against the Company or its directors or management, (B) make, or cause to be made, any statement, announcement or public filing with respect to any proposal or matter to be considered by Company
stockholders, whether at any annual or special meeting of Company stockholders or with respect to any request or call for a special meeting or otherwise, which statement, announcement or public filing is inconsistent with any recommendation by the
Board, and (C) publicly or privately encourage or support any stockholder or other person to take any of the actions in the foregoing clauses (A)-(B). 

(c)         During the Voting and Support Period, the Scopia Parties will not in any
manner, and shall cause their Associates to not, directly or indirectly, absent prior express invitation or authorization by the Board pursuant to a resolution of the Board: 

(i)         seek to call, request the call of, or call or make application to a court
or other person to call, order, requisition or administer, a special or other meeting of the 

  
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Company stockholders, seek to make or make, present, conduct, participate or engage in any stockholder proposals of any kind or other type of referendum (binding or precatory), including
nominations for, elections of or removal of directors (and including nominations for director nominees to be included in the Company’s proxy materials), for consideration at any annual or special meeting of Company stockholders, through action
by written consent or otherwise, or seek to make or make, engage in or participate in any solicitation of proxies or consents (whether or not such solicitation is exempt under Rule 14a-2 of the Exchange Act) or other authority to vote any securities
of the Company with respect to nominations for, elections of or removal of directors or any other proposal or business (binding or non-binding) to be considered by the Company’s stockholders, whether at an annual or special meeting of
stockholders, regarding the call of a special meeting of stockholders or through action by written consent or otherwise; 

(ii)         encourage, advise or influence any other person or assist any person in
so encouraging, assisting or influencing any person with respect to the giving or withholding of any proxy, consent or other authority to vote or in conducting any type of referendum (other than such encouragement, advice or influence that is
consistent with the Board or Company management’s recommendation in connection with such matter); 

(iii)         form or join in a partnership, limited partnership, syndicate or other
group, including a group as defined under Section 13(d) of the Exchange Act or other applicable law, with respect to the Common Stock (for the avoidance of doubt, excluding any group comprised solely of the Scopia Parties and their Associates),
or otherwise support or participate in any effort by any person, with respect to the matters set forth in this Section 3(c); 

(iv)         initiate or take any action to alter the composition of the Board or
management or initiate or take any action to obtain additional representation on the Board; provided, that nominees selected by the Company for election at the 2017 Annual Meeting are selected in accordance with Section 5.8 of the
Reclassification Agreement and at least eight of the thirteen nominees have been determined to be independent directors by the Board in accordance with relevant stock exchange rules; 

(v)         institute, solicit or join, as a party, any litigation, arbitration or
other proceeding against the Company or any of its subsidiaries or any of their respective current or former directors or officers (including derivative actions), other than litigation by the Scopia Parties to enforce the provisions of this
Agreement; 
 (vi)         other than in (i) market transactions where the
identity of the purchaser is not known, (ii) underwritten public offerings and (iii) bought deals, sell, offer or agree to sell directly or indirectly, through swap, hedging or derivative transactions or otherwise, any securities of the
Company, or any rights decoupled from the underlying shares of Common Stock held by the Scopia Parties to any person that is not a party to this Agreement (a “Third Party”) unless (A) such Third Party is a passive
investor that has not filed a Schedule 13D and would not as a result of the purchase of the securities of the Company be required to file a Schedule 13D, and (B) such sale, offer, or agreement to sell would not knowingly result in such
Third Party, together with its affiliates, owning, controlling or otherwise having any beneficial or other ownership interest in the aggregate that is the equivalent of five percent (5%) or more of the Common Stock outstanding at such time or
would increase 

  
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the beneficial or other ownership interest of any Third Party who, together with its affiliates, has a beneficial or other ownership interest in the aggregate that is the equivalent of five
percent (5%) or more of the Voting Securities outstanding at such time, except in each case in a transaction approved in advance by the Board; 

(vii)         make any statement or announcement that constitutes an ad
hominem attack on, or otherwise disparages or causes to be disparaged, the Company, any of the Company’s Affiliates, or any of the Company’s past, present or future officers or directors; and 

(viii)         enter into any discussions or arrangements with any person with
respect to any of the foregoing or disclose publicly or privately in any manner any intention, plan or arrangement that is inconsistent with the foregoing. 

(d)         During the Voting and Support Period, the Company hereby agrees that
(i) it shall comply with Sections 5.1 and 5.8 of the Reclassification Agreement and enforce its rights thereunder, and shall seek to ensure at least eight of the thirteen nominees for election as directors at the 2017 Annual Meeting have been
determined to be independent directors by the Board in accordance with relevant stock exchange rules and (ii) it shall not amend the Exchange Ratio or the Outside Date, in each case, as defined in the Reclassification Agreement nor shall it
amend in any material respect Sections 5.1 or 5.8 of the Reclassification Agreement (and such amendment, a “Material Breach”). For the avoidance of doubt, any change to or extension of the Outside Date shall be deemed a violation of clause
(ii) of the previous sentence, in spite of the fact that the definition thereof in the Reclassification Agreement includes extensions as agreed between the parties to the Reclassification Agreement. The parties agree that notwithstanding
anything in this Agreement to the contrary, in the event the Company breaches clause (ii) of this paragraph, the sole and exclusive remedy of the Scopia Parties shall be specific performance and the Scopia Parties hereby waive, to the extent
they may do so, any other rights or remedies that would otherwise have been available to them under common law (including monetary damages) or otherwise. 

Section 4.         Publicity. The Company shall provide the Scopia
Parties with a reasonable opportunity to review and comment on its press release announcing, among other things, entry into this Agreement and the Reclassification Agreement (the “Press Release”). Neither the Company (and the
Company shall cause each of its subsidiaries, directors, officers and employees not to) nor the Scopia Parties (and the Scopia Parties shall cause each of their subsidiaries, partners/members, directors, officers and employees not to) shall make or
cause to be made any public announcement or statement with respect to the subject of this Agreement that is contrary to the statements made in the Press Release, except as required by law or the rules of any stock exchange or with the prior written
consent of the other party. The Company acknowledges that the Scopia Parties intend to file this Agreement and the Press Release as exhibits to their Schedule 13D pursuant to an amendment. The Company shall have reasonable advance review and
consultation rights upon any Schedule 13D filing (or amendment thereto) made by the Scopia Parties with respect to this Agreement. The Scopia Parties acknowledge and agree that the Company intends to file this Agreement and file or furnish the Press
Release with the SEC as exhibits to a Current Report on Form 8-K and to file this Agreement as an exhibit to future filings with the SEC. 

  
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 Section 5.        
Definitions. For purposes of this Agreement: 
 “Affiliate” and “Associate” shall
have the respective meanings set forth in Rule 12b-2 promulgated by the SEC under the Exchange Act; provided, that any references to “Affiliate” and “Associate” herein shall be deemed to be preceded by the word
“controlled”. 
 “beneficially own” and “beneficial ownership” shall have the
meanings ascribed to such terms in Rule 13d-3 under the Exchange Act, except that such terms shall also include options, warrants, swaps, derivatives, convertible securities, stock appreciation rights and other rights or instruments, whether real or
synthetic. 
 “Closing Date” means the date on which the closing of the Reclassification occurs. 

“Derivative Instrument” means, with respect to any person, any option, warrant, convertible security, stock
appreciation right, or similar right with an exercise or conversion privilege or a settlement payment or mechanism at a price related to any class or series of shares of capital stock of the Company or with a value derived in whole or in substantial
part from the price, value or volatility of any class or series of shares of the Company or any capital stock of the Company, any “call equivalent position” or “put equivalent position” (as such terms are defined in Rule 16a-1(b)
under the Exchange Act) that is, directly or indirectly, held or maintained by such person with respect to any shares of any class or series of capital stock of the Company (including any security or instrument that would not otherwise constitute a
derivative security for purposes of such definitions as a result of any feature that would make any conversion, exercise or similar right or privilege of such security or instrument becoming determinable only at some future date or upon the
happening of a future occurrence, in which case the determination of the amount of securities into which such security or instrument would be convertible or exercisable shall be made assuming that such security or instrument is immediately
convertible or exercisable at the time of such determination) or any other derivative or synthetic arrangement having characteristics of a long position in, or a short position with respect to, any class or series of shares of capital stock of the
Company, whether or not such instrument or right shall be subject to settlement in the underlying class or series of capital stock of the Company, or otherwise directly or indirectly owned beneficially by such stockholder person, and any other
direct or indirect opportunity to profit or share in any profit derived from any increase or decrease in the value of shares of the Company. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Net Long Position” means such shares of Common Stock beneficially owned, directly or indirectly, that
constitute such person’s net long position as defined in Rule 14e-4 under the Exchange Act mutatis mutandis, provided that “Net Long Position” shall not include any shares of Common Stock as to which such person
does not have the right to vote or direct the vote or as to which such person has entered into a Derivative Instrument that hedges or transfers, in whole or in part, directly or indirectly, any of the economic consequences of ownership of such
shares. 

  
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 “Outside Date” shall have the meaning ascribed in the
Reclassification Agreement, provided, that if the Outside Date is changed in the Reclassification Agreement with the written consent of Scopia Management, then for purposes of this Agreement, the Outside Date shall not be deemed to have been
changed. 
 “Proposed Amendments” means the amendment and restatement of the charter of the Company
contemplated by the amendment and restatement of the charter of the Company substantially in the form attached as Annex A to the Reclassification Agreement. 

“Reclassification” means the transactions contemplated by virtue of the effectiveness of the Proposed
Amendments, as set forth in Section 2.2(b) of the Reclassification Agreement. 
 “Reclassification
Agreement” means that certain Reclassification Agreement, dated the date hereof, by and between the Company and RMS, Limited Partnership. 

“Requisite Stockholder Approval” means the approval of the Proposed Amendments by (a) the holders of a
majority of the issued and outstanding shares of Class A Common Stock, voting as a separate voting class, and (b) the holders of a majority of the issued and outstanding shares of Class B Common Stock, voting as a separate voting class.

 “SEC” means the U.S. Securities and Exchange Commission. 

“Special Committee” means the special committee of the Board comprised of independent directors elected
solely by the holders of Class A Common Stock. 
 “Voting and Support Period” shall mean the period
from the date of this Agreement until the earlier of (i) the Closing Date, (ii) the termination of the Reclassification Agreement pursuant to Article VII thereof and (iii) the Outside Date. 

Section 6.         Proxy. 

(a)         The parties intend that this Agreement shall also constitute an
irrevocable “proxy” created under and pursuant to Section 2-507 of the Maryland General Corporation Law (the “MGCL”), and that the irrevocable appointment of proxies by the Scopia Parties pursuant to this
Section 6 are intended to be coupled with an interest by virtue of the Scopia Parties’ entering into this Agreement and the voting obligations contained herein. The Scopia Parties hereby represent that all proxies (other than the
irrevocable proxy created hereby), powers of attorney, instructions or other requests given by or on behalf of the Scopia Parties prior to the execution of this Agreement in respect of the voting of shares of Common Stock, if any, are not
irrevocable, the Scopia Parties hereby revoke (or shall cause to be revoked) any and all previous proxies, powers of attorney, instructions and other requests with respect to shares of Common Stock. 

(b)         If the Scopia Parties fail to vote in accordance with the provisions of
Section 3(a) of this Agreement (whether in person or by proxy), the Scopia Parties hereby irrevocably appoint (to the fullest extent permitted by the MGCL) as their proxy David J. LaRue and Robert G. O’Brien, or either of them, in their
respective capacities as officers of the Company, and any individual who shall hereafter succeed any such officer of the Company, and 

  
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any other person designated in writing by the Company (the “Proxies”), with full power of substitution and resubstitution in each of them, to cast on behalf of the Scopia Parties
all votes that the Scopia Parties are entitled to cast with respect to shares of Common Stock in accordance with Section 3(a) of this Agreement (I) at the Company’s 2017 annual meeting of stockholders and (II) at any special
meeting of Company stockholders called for the purposes of obtaining Requisite Stockholder Approval, however called, including any postponement or adjournment thereof, in each case to the extent relating to or reasonably expected to affect or
concern the Reclassification, at which any of the matters described in Section 3(a) of this Agreement are to be considered. 

(c)         Any instruction pursuant to the proxy and power of attorney granted in
this Section 6 may be given by any of the Proxies, acting individually. 
 (d)
        The irrevocable proxy granted pursuant to this Section 6 is coupled with an interest by virtue of, among other things, the voting obligations of the Scopia Parties set forth in this
Agreement, was given by the Scopia Parties to induce the Company to enter into this Agreement and, pursuant to Section 2-507(d) of the MGCL, shall be irrevocable. 

(e)         The irrevocable proxy granted pursuant to this Section 6
shall be effective on the date first set forth above and shall survive until the conclusion of the Voting and Support Period (whereupon the irrevocable proxy shall terminate automatically and be without further force and effect). The appointment of
the Proxies is intended to remain valid for the entire duration of the Voting and Support Period, in accordance with Section 2-507(b) of the MGCL. 

Section 7.         Notices. All notices, requests, claims, demands and
other communications hereunder shall be in writing, and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by facsimile, by courier service or by registered or certified mail (postage
prepaid, return receipt, requested) to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section 7): 

 

	
	 If to Company, to:

	
	 Forest City Realty Trust, Inc.

	 Terminal Tower

	 50 Public Square, Suite 1100

	 Cleveland, OH 44113

	 Attention: General Counsel

	 Facsimile: 216 263-6208

	 Phone: 216-621-6060

	
	 with a copy, which shall not constitute notice, to:

	
	 Sullivan & Cromwell LLP

	 125 Broad Street

	 New York, NY 10004-2498

	 Attention:      Joseph B. Frumkin

	         Benjamin R.
Weber

  
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	       Krishna Veeraraghavan

	
	 E-mail:          frumkinj@sullcrom.com

	       weberb@sullcrom.com

      veeraraghavank@sullcrom.com

	
	 If to the Scopia Parties, to:

	
	 Scopia Capital Management LP

	 152 West 57th Street, 33rd Floor

	 New York, NY 10019

	 Attention:     Jerome Lande

	 Phone:          (212) 370-0303

	 E-mail:         jlande@scopiacapital.com

	
	 with a copy, which shall not constitute notice, to:

	
	 Akin Gump Strauss Hauer & Feld

	 One Bryant Park

	 New York, NY 10036

	 Attention:     Douglas Rappaport

	      Jeffrey Kochian

	 E-mail:         drappaport@akingump.com

	      jkochian@akingump.com

 Section 8.         Specific Performance;
Remedies; Other Matters. Subject to Section 3(d), the parties hereto shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement, in addition
to any other remedy to which they are entitled at law or in equity. The parties agree that in the event of a breach, the non-breaching party will suffer irreparable harm and the calculation of damages in the event of breach will not be possible.
Furthermore, each of the parties hereto agrees to waive any bonding requirement under any applicable law, in the case any other party seeks to enforce the terms by way of equitable relief. THIS AGREEMENT SHALL BE GOVERNED IN ALL RESPECTS, INCLUDING
VALIDITY, INTERPRETATION AND EFFECT, BY THE LAWS OF THE STATE OF MARYLAND WITHOUT GIVING EFFECT TO THE CHOICE OF LAW PRINCIPLES OF SUCH STATE. 

Section 9.         Severability. If at any time subsequent to the date
hereof, any provision of this Agreement shall be held by any court of competent jurisdiction to be illegal, void or unenforceable, such provision shall be of no force and effect, but the illegality or unenforceability of such provision shall have no
effect upon the legality or enforceability of any other provision of this Agreement. 
 Section 10.
        Termination. This Agreement shall terminate immediately following the conclusion of the Voting and Support Period. The Scopia Parties shall have the right to terminate this Agreement if there
has occurred a Material Breach. 

  
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 Section 11.        
Counterparts. This Agreement may be executed (including by facsimile or PDF) in two or more counterparts which together shall constitute a single agreement. 

Section 12.         No Third Party Beneficiaries. This Agreement is
solely for the benefit of the parties hereto and is not enforceable by any other persons (except that the Special Committee shall be a third-party beneficiary of this Agreement in respect of all rights and powers afforded to the Special Committee
hereunder). 
 Section 13.         No Waiver. No failure or delay by a
party in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial waiver thereof preclude any other or further exercise thereof or the exercise of any other right or remedy hereunder. 

Section 14.         Assignment. This Agreement and the rights and
obligations hereunder shall be binding on and inure to the benefit of successors of the parties hereto. This Agreement and the rights and obligations herein may not be assigned or otherwise transferred, in whole or in part, by the Scopia Parties
without the express written consent of the Company. 
 Section 15.        
Entire Understanding. This Agreement contains the entire understanding of the parties with respect to the subject matter hereof and may be amended only by an agreement in writing executed by the parties hereto. 

Section 16.         Interpretation and Construction. Each of the parties
hereto acknowledges that it has been represented by counsel of its choice throughout all negotiations that have preceded the execution of this Agreement, and that it has executed the same with the advice of said counsel. Each party and its counsel
cooperated and participated in the drafting and preparation of this Agreement and the documents referred to herein, and any and all drafts relating thereto exchanged among the parties shall be deemed the work product of all of the parties and may
not be construed against any party by reason of its drafting or preparation. Accordingly, any rule of law or any legal decision that would require interpretation of any ambiguities in this Agreement against any party that drafted or prepared it is
of no application and is hereby expressly waived by each of the parties hereto, and any controversy over interpretations of this Agreement shall be decided without regard to events of drafting or preparation. 

[Signature page follows] 
  

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the date first above written. 
  

					
	FOREST CITY REALTY TRUST, INC.
		
	By	 	   /s/ David LaRue

		 	Name:	 	 David LaRue

		 	Title:	 	 President and Chief Executive Officer

  

					
	 SCOPIA CAPITAL MANAGEMENT LP

		
	 By
	 	 Scopia Management, Inc., its general partner

		
	 By
	 	   /s/ Matthew Sirovich

		 	 Name:
	 	      Matthew Sirovich

		 	 Title:
	 	      Managing Director

  

					
	SCOPIA MANAGEMENT, INC.
		
	By	 	   /s/ Matthew Sirovich

		 	Name:	 	     Matthew Sirovich
		 	Title:	 	     Managing Director

 [Signature Page to Voting and Support Agreement]Exhibit 10.1

 

Execution Copy

 

**Confidential portions
have been omitted pursuant to a request for confidential treatment and have been filed separately with the Securities and Exchange
Commission (the “Commission”)**

 

LICENSE AGREEMENT

 

This License Agreement (the "Agreement"),
dated as of May 20, 2015 by and between Dekel Pharmaceuticals Ltd., corporate number 51-419250-9, a private company incorporated
under the laws of Israel (the “Licensor”), and Therapix Biosciences Ltd., company number 51-358165-2, a public
company whose shares are listed for trading on the Tel Aviv Stock Exchange ("TASE" and collectively, the “Licensee”).
Licensee, on the one hand, and Licensor, on the other, may each individually be referred to in this Agreement as a “Party”
and collectively referred to in this Agreement as the “Parties”.

 

WITNESSETH:

 

WHEREAS, Licensor is the sole owner of certain
technology, know-how, information, materials, and results relating to PEA combination drug therapies technology, as more fully
described below; and

 

WHEREAS, Licensor has offered to Licensee, and
Licensee is desirous of obtaining from Licensor, an exclusive, irrevocable, worldwide, royalty-bearing, sublicensable license for
the use of the Licensed Technology, all on the terms and conditions hereinafter set forth; and

 

NOW THEREFORE, the parties hereto hereby agree
as follows:

 

		1.	DEFINITIONS

 

		1.1.	"Calendar Quarter" shall mean the respective periods
of three (3) consecutive calendar months ending on March 31, June 30, September 30 or December 31, for so long as this Agreement
is in effect.

 

		1.2.	"First Commercial Sale" will mean the first sale
of a Licensed Product by the Licensee after receipt of all governmental and other regulatory approvals required to market and sell
the Licensed Product have been obtained in the country in which such Licensed Product is sold.

 

		1.3.	"Licensee's Development Obligation" shall mean the
obligations imposed on Licensee in accordance with Section 4.

 

		1.4.	"Licensed Know-How" shall mean any information, knowledge,
ancillary materials, results, devices trade secrets, inventions, know-how, data, processes, techniques, procedures, compositions,
materials, devices, methods, formulas, protocols and information, whether or not patentable, together with any documentation, data,
information or other materials related, covered or used by the Licensed Patents, and all improvements, updates, derivatives, modifications
and enhancements thereto made by Licensor by the Effective Date (if any).

 

    

     

    

 

		1.5.	“Licensed Patents” shall mean (i) the U.S., foreign
or international patent and/or patent applications set forth on Exhibit A attached hereto, (ii) the Patent Rights,
and (iii) any and all patent rights covering the Licensed Know-how. Exhibit A shall include and shall be updated from time to time
to reflect inclusion of new Licensed Patents.

 

		1.6.	"Licensed
                                         Product" shall mean any product that comprises, contains or incorporates
                                         the Licensed Technology.

 

		1.7.	"Licensed Technology" shall mean the Licensed Patents
and Licensed Know-How, and other intellectual property owned by or licensed to Licensor related thereto.

 

		1.8.	"M&A
                                         Transaction" shall mean a transaction or series of transactions involving
                                         (i) a sale or transfer of all or substantially all of the assets of the Company, (ii)
                                         a sale or transfer of all or substantially all of share capital, (iii) a merger or consolidation,
                                         (iv) dissolution or liquidation, or (v) the consummation of any transaction or series
                                         of related transactions having similar effect as any of the foregoing.

 

		1.9.	"Net
                                         Sales" shall mean the gross amount invoiced by or on behalf of Licensee,
                                         on sales of products under the License, less the following reasonable and customary deductions:
                                         (i) all trade, cash and quantity credits, discounts, refunds or rebates to the extent
                                         actually allowed and taken; (ii) amounts for claims, allowances or credits for returns,
                                         retroactive price reductions, or chargebacks; (iii) prepaid freight, sales taxes, duties
                                         and other governmental charges (including value added tax) to the extent separately stated
                                         on the invoice, and (iv) credits for uncollectible amounts on previously sold products,
                                         provided that reasonable efforts have been made to collect such amounts and provided
                                         that such amounts have been written off on Licensee's books in accordance with generally
                                         accepted accounting principles.

 

		1.10.	"Patent
                                         Rights" shall mean any and all (a) patents, (b) pending patent
                                         applications, including, without limitation, all provisional applications, continuations,
                                         continuations-in-part, divisions, reissues, renewals, and all patents granted thereon,
                                         and (c) all patents-of-addition, reissue patents, reexaminations and extensions
                                         or restorations by existing or future extension or restoration mechanisms, including,
                                         without limitation, supplementary protection certificates or the equivalent thereof.

 

		1.11.	"Special
                                         Consideration" shall mean the consideration detailed under Section 3.3.

 

		1.12.	"Sublicense
                                         Receipts" shall mean the gross amount actually received by Licensee
                                         from a third party to whom Licensee, at its sole discretion, granted any rights under
                                         the License with respect to the development, manufacturing, marking, sale or distribution
                                         of any rights under the License, except for limited, revocable, non-exclusive licenses
                                         granted to subcontractors in the ordinary course of business for the sole purpose of
                                         provision of services to Licensee, and which is not Net Revenues. Sublicense Receipts
                                         specifically exclude (i) any amounts received as grants in connection with government
                                         programs, or otherwise as research grants from national or international not-for-profit
                                         funding bodies, or in connection with an M&A Transaction, (ii) reimbursement for
                                         patent expenses, and (iii) payments committed to cover costs actually incurred by Licensee
                                         under, and in accordance with detailed budgets and workplans included in sublicense agreement
                                         with Sublicensees.

 

		1.13.	"Transaction Consideration" shall mean the consideration
detailed under Section 3, along with Licensee's Development Obligation.

 

    2

     

    

 

		2.	LICENSE

 

		2.1.	As of the Effective Date (as defined below), Licensor hereby grants to Licensee
and Licensee hereby accepts, an exclusive, irrevocable, worldwide, royalty-bearing, sublicensable license for the purpose of research
and development, manufacturing, sale, distribution, marketing and commercialization of the Licensed Technology and the Licensed
Products,(the “License").

 

Licensor shall freely
develop, manufacture, sell, distribute and commercialize any of its intellectual property (the "Licensor's Activity"),
provided, however, that (i) such intellectual property is not incorporated or covered by the Licensed Technology;
and (ii) such Licensor's Activity shall not result in a product which competes with the Licensed Product.

 

		2.2.	Sublicense Rights. Licensor grants to Licensee the right to grant
sublicenses of any right under the License to third parties (each a "Sublicensee"), provided that: (i)
Licensee has notified Licensor in writing of the sublicense of rights to each Sublicensee; (ii) a sublicense will be no broader
than the License and shall contain, inter alia, restrictions on use of the License and other applicable requirements as severe
as those imposed on Licensee herein. In the event that this Agreement is terminated, Licensor will accept existing Sublicensees
in good standing at the date of termination and will enter into a direct license agreement with the sublicense at the terms and
conditions of the sublicense. Licensee shall be obligated to enforce the terms and restrictions on use of the License against any
Sublicensee.

 

		2.3.	Licensor shall, at Licensee’s reasonable request, provide to Licensee
assistance, including consultation of Licensor’s personnel, with respect to the License, including in connection with application
of the Licensed Technology to Licensee’s technology and commercialization of the Licensed Products.

 

		2.4.	The Parties hereby agree that the execution, delivery and performance of
this Agreement and any of the provisions hereof are subject to (i) the receipt of approval by all relevant organs of both Parties
according to the Companies Law and any applicable regulations; (ii) completion of appropriate filings with and obtainment of the
required approvals of the Israeli Securities Authority and the TASE (and the OTCQB, if required);
and (iii) with respect to Licensee, an investment in the Licensee, whether by Licensor or by a third party, in one or multiple
transactions, in the aggregate amount not lower than US$ 350,000. The License granted hereby shall become effective as of the attainment
of the later of sub-Sections (i)-(iii) above (the "Effective Date").

 

		3.	LICENSE CONSIDERATION

 

		3.1.	Immediately following the Effective Date, Licensee shall be issued with 200,000
Ordinary Shares of Licensee, par value NIS 0.01 per share (the "Ordinary Shares"), at a price per share
equal to NIS 0.5 (the "Upfront Payment").

 

The value of the Upfront
Payment shall be NIS 100,000, and shall be set off against the Royalty Payments detailed under Section 3.3.

 

    3

     

    

 

		3.2.	Option(s).

 

3.2.1Immediately
following the Effective Date, Licensee hereby grants Licenser an option to purchase Ordinary Shares of Licensee, in an aggregate
purchase price of up to US$ 500,000, at an exercise price of NIS 0.5 per share (the "Initial Option").
Licensor shall notify the Licensee with respect to the exercise of the Initial Option by providing the Licensee with an written
notice with respect to such exercise. Unless exercised in accordance with this Section 3.2.1, the Initial Option shall expire within
90 days following the Effective Date (the "Initial Option Expiration Date").

 

3.2.2In the event
that Licensor elected to exercise its Initial Option in accordance with Section 2.2.1 above, Licensee shall grant the Licensor
with an additional option to purchase Ordinary Shares of Licensee, according to which Licensor shall be entitled to purchase up
to 4 additional Ordinary Shares, at an exercise price equal to NIS 0.65, for each Ordinary Share it purchased under the Initial
Option (the "Additional Option"). The Additional Option shall be limited to an aggregate purchase price
of US$ 2,000,000, and the number of shares underlying the Additional Option shall be reduced accordingly.

 

Licensor shall notify
the Licensee with respect to the exercise the Additional Option by providing the Licensee with a written notice with respect to
such exercise. The Additional Option shall expire within 12 months following the Initial Option Expiration Date.

 

3.2.3Notwithstanding
anything to the contrary herein, Licensor hereby acknowledges that the exercise of the Initial Option and/or of the Additional
Option (or part thereof) might be subject to Tender Offer regulation, as prescribed under the Companies Law and regulations promulgated
thereof. Licensor hereby agrees to abide and comply with such rules and regulations, as applicable.

 

		3.3.	Royalty Payments.

 

Licensee shall
pay Licensor the amounts set forth in this Section 3.3. Such amounts shall be payable, on a Licensed Product-by-Licensed Product
and country-by country basis until the later of (i) ten (10) years from the date of the First Commercial Sale of such Licensed
Product in such country, and (ii) the last to expire or terminate of any of the Patent Rights in such country: 

3.3.1Net
Sales. Licensee shall pay Licensor an amount equal to 8% of Net Sales.

 

3.3.2Sublicense
Receipts. Licensee shall pay Licensor an amount equal to 35% of Sublicense Receipts.

 

    4

     

    

 

3.3.3Milestone
Payments. Licensee shall pay Licensor the following milestone payments:

 

3.3.3.1Upon the
Licensee's success of pre-clinical studies with Licensed Product, Licensee shall pay Licensor an amount equal to US$ 25,000, either
by cash or equity equivalent based on NIS 0.5 per Ordinary Share, at Licensee's sole discretion;

 

3.3.3.2Upon the
Licensees success of a phase 1/2a study with the "entourage molecules" with Licensor's PEA based formulation, Licensee
shall pay Licensor an amount equal to US$ 75,000, either by cash or equity equivalent based on NIS 0.5 per Ordinary Share, at Licensee's
sole discretion; and

 

3.3.3.3 Upon
the earlier of (i) generating net revenues of at least US$ 200,000 from the commercialization of the Licensed Product by
Licensee; or (ii) approval of the FDA/EMA of a drug product based on the Licensed Product – an amount equal to US$
75,000, either by cash or equity equivalent based on NIS 0.5 per Ordinary Share, at Licensee's sole discretion.

 

3A. Reports.

 

3A.1. Within sixty (60) days after
the conclusion of each Calendar Quarter commencing with the first Calendar Quarter in which Licensee first receives Net Sales,
Licensee shall deliver to Licensor a report, certified by Licensee's Chief Financial Officer, containing the following information:

 

		(i)	The number of units of Licensed Products sold by Licensee or its Sublicensees to independent third
parties in each country for the applicable Calendar Quarter;

 

		(ii)	The gross amount billed for Licensed Products sold by Licensee or its Sublicensees during the applicable
Calendar Quarter in each country;

 

		(iii)	A calculation of Net Sales for the applicable Calendar Quarter in each country, including a listing
of applicable deductions;

 

		(iv)	The total amount payable to Licensor in US Dollars with respect to the Net Sales for the applicable
Calendar Quarter, together with the exchange rates used for conversion.

 

3A.2. In addition to the reports delivered pursuant
to Section 3A.1, Licensee shall notify Licensor in writing within thirty (30) days of the receipt of any Sublicense Receipts. Licensee
shall remit to Licensor all amounts due with respect to such Sublicense Receipts within sixty (60) days of the receipt of such
Sublicense Receipts by Licensee.

 

		4.	ANTI-SHELVING AND COMMERCIALIZATION

 

		4.1.	The Licensee undertakes, at its own expense, to use its commercially reasonable
efforts to lead, manage and fund activities, costs and expenses in connection with the Licensed Technology formulation development
and maintenance, including, without limitation, pre-clinical studies, GM manufacturing, clinical testing and patent filings and
persecutions of the Licensed Technology, by a total annual investment cap of [THE CONFIDENTIAL PORTION HAS BEEN SO OMITTED PURSUANT
TO A REQUEST FOR CONFIDENTIAL TREATMENT AND HAS BEEN FILED SEPARATELY WITH THE COMMISSION], or in accordance with an annual
research and development plan and budget, which shall include, inter alia, timeframes and development milestones, to be mutually
agreed on between the Parties (the "Development Plan").

 

    5

     

    

 

		4.2.	Licensee shall be entitled, from time to time, to make such adjustments to the Development Plan
as the Licensee believes, in its good faith judgment, are needed in order to improve the Licensee's ability to meet the development
milestones under the Development Plan (the "Development Milestones"). Licensee shall notify Licensor promptly
regarding material changes to the Development Plan. Notwithstanding the foregoing or anything to the contrary in this Agreement,
the Licensee shall not be entitled to make any material change the Development Milestones or the time frames for achieving the
Development Milestones without Licensor's prior written consent which shall not be unreasonably withheld. If Licensor has
not approved or rejected the request within 30 days as of submission by the Licensee, such request shall be deemed approved. Any
consent by Licensor shall not be required in connection with a Development Milestone delayed or revised due to a decision or recommendation
of a regulatory agency.

 

		4.3.	Within sixty (60) days after the end of each calendar year, the Licensee shall furnish Licensor
with a written report on the progress of its efforts during the prior year to develop and commercialize the Licensed Product.

 

		4.4.	If the Licensee materially breaches any of its obligations pursuant to Sections 4.1 or 4.2 above
or pursuant to the Development Plan or Development Milestones (and such breach is not remedied or approved by Licensor according
to Sections 4.2 or 4.2 above), the provisions of Section 11.2.2 below shall apply with respect to such breach.

 

		5.	PATENT PROSECUTION AND MAINTENANCE

 

		5.1.	Prosecution. Licensee will, at its own costs and expenses, be solely responsible
for the preparation, filing, prosecution and maintenance of all patent applications and patents included in the Licensed Technology.
Licensee will instruct its patent counsel to copy Licensor on any patent application or notice of each official action of any patent
office (including but not limited to office actions, payment of fees, abandonment of applications etc.). Licensor will have the
right, but not the obligation, to propose changes to any filing and responses, which Licensee will consider (and Licensee will
direct the patent counsel to consider) prior to submitting the patent application or the response to office action.

 

		5.2.	Notwithstanding the foregoing, and only in the event that Licensor decides, at its sole discretion,
to abandon a patent or patent application or not to file a patent application in specific countries, Licensee shall have the right,
but not the obligation, to make decisions with respect to the preparation, filing, prosecution and maintenance of such patent applications
and patents, at its own costs and expense. Licensor shall notify Licensee of any such decision within a commercially reasonable
period of time and at least ten (10) business days before any official dead-line. Any costs and expenses paid by Licensee toward
the preparation, filing, prosecution and maintenance of such patent applications and patents will be set-off against the Special
Consideration and reduce Licensee's payment obligation accordingly.

 

    6

     

    

 

		6.	REPRESENTATIONS AND WARRANTIES

 

		6.1.	Warranties by Licensor.

 

6.1.1Licensor
hereby represents and warrants that (i) the Licensed Technology does not infringe upon or make unauthorized use of any intellectual
property rights of any third party, and that the Licensed Technology is free and clear of all claims, security interests, charges,
liens, encumbrances or other adverse claims or third party rights; (ii) Licensor has never received any charge, complaint, claim,
demand, or notice alleging any such interference, infringement, misappropriation, or violation; (iii) Licensor is the sole and
exclusive owner of all right, title and interest in and to the Licensed Technology;
(iv) there are no superior rights which would prevent Licensee from fully exercising its rights under the License;
(v) there is no action, suit, claim, hearing, arbitrations or other legal proceeding or investigation by or before any entity of
any nature pending or threatened against the Licensor, in relation to the Licensed Technology.

 

6.1.2Licensor
hereby further represents that it has not granted any rights to third parties in additional patents developed alone or jointly
with others, which may be commercially competitive with the patents and patent applications under the Licensed Technology.

 

6.1.3There are
no amounts that shall be required to be paid by Licensor or by any other related party to any third party as a result of the exploitation
of the Licensed Technology.

 

6.1.4Each person
who is an inventor of or who has or has had any rights in the Licensed Technology has assigned and has executed an agreement assigning
its entire right, title, and interest in such to the Licensor in all countries and jurisdictions applicable.

 

6.1.5All applicable
information in connection with the Licensed Technology has been kept confidential or has been disclosed to third parties only under
terms of confidentiality. No breach of such confidentiality has been committed by any third party.

 

6.1.6The representations
and warranties of Licensor in this Agreement, and the information, documents and materials furnished to Licensee in connection
with its period of diligence prior to the Effective Date, do not, taken as a whole, (a) contain any untrue statement of a material
fact, or (b) omit to state any material fact necessary to make the statements or facts contained therein, in light of the circumstances
under which they were made, not misleading.

 

    7

     

    

 

		6.2.	Mutual Representations, Warranties and Covenants.

 

Licensor and Licensee
each represents and warrants to the other, as of the Effective Date that:

 

6.2.1The execution
and delivery of this Agreement and the performance by it of the transactions contemplated hereby do not violate: (i) such Party’s
Articles of Association or other organizational documents; (ii) in any material respect, any agreement, instrument, or contractual
obligation to which such Party is bound; (iii) any requirement of any applicable law; or (iv) any order, writ, judgment, injunction,
decree, determination, or award of any court or governmental entity presently in effect applicable to such Party.

 

6.2.2This Agreement
is a legal, valid, and binding obligation of such Party enforceable against it in accordance with its terms and conditions, subject
to the effects of bankruptcy, insolvency, or other laws of general application affecting the enforcement of creditor rights, judicial
principles affecting the availability of specific performance, and general principles of equity (whether enforceability is considered
a proceeding at law or equity).

 

		7.	CONFIDENTIALITY

 

		7.1.	Licensee shall not disclose to others any information and data relating to the objects and contents
of the Licensed Technology to others or use such information except as necessary to exercise its rights under this Agreement and
the License. Licensor shall not disclose to others any information or data relating to Licensee’s technology or business,
which comes to Licensor’s knowledge in connection with this Agreement, or use such information except in performing its obligations
hereunder.

 

		7.2.	Excluded from the foregoing undertaking of confidentiality is (i) information which is in the public
domain at the date of the signing hereof or which becomes part of the public domain thereafter other than through the receiving
party’s violation of any of the provisions of this Agreement; (ii) information in the receiving party’s possession
prior to disclosure by the other party, as evidenced by the receiving party’s written records; (iii) information received
by the receiving party from an independent third party who has no obligation of confidentiality to disclosing party; and (iv) information
independently developed by, as evidenced by the receiving party’s written records, or for, the receiving party, provided
that the third party independently developing such information has no obligation of confidentiality to disclosing party. Licensee
may disclose to its personnel, agents and subcontractors, confidential information as shall be necessary for the exercise by it
of its rights or obligations under this Agreement, provided that such persons shall agree to be bound by a similar undertaking
of confidentiality.

 

		7.3.	A disclosure by the receiving party of confidential information in response to a valid order by
a court or other governmental body, or as otherwise required by law, and to such extent necessary, shall not be considered to be
a breach of this Agreement, provided, however, that the receiving party shall provide the disclosing party with prompt prior written
notice ,as soon as legally permissible, to enable the disclosing party to seek a protective order or otherwise prevent or contest
such disclosure.

 

		7.4.	The Parties shall keep the terms and conditions of this Agreement strictly confidential and will
not disclose it or provide a copy of this Agreement or any part thereof to any third party, nor issue any statements or releases
pertaining to this Agreement or the Parties’ discussions, without the other Party’s prior written consent, which shall
not be unreasonably withheld or delayed. Notwithstanding the above, Licensor specifically acknowledges and understands that Licensee
is a public company traded on the Tel-Aviv Stock Exchange. Accordingly, (a) Licensee's Confidential Information may be considered
as "inside information" pursuant to Israeli securities laws and regulations; and (b) Licensee is required to make certain
disclosures and publications under applicable laws which may include this Agreement and/or the Parties' engagement, such disclosure
not to be deemed a breach of this Section, provided that such disclosures are limited to those required and are provided
to Licensee for comment a reasonable time in advance of such disclosures.

 

    8

     

    

 

For the purpose of this
Section, "Confidential Information" shall mean all ideas, data and information of any kind, including,
without limitation, technology, know-how, technical data, products, works of authorship, assets, operations, contractual relationships,
business plans or any other aspect of a Party's business or technology, disclosed, provided or otherwise made available by one
Party to the other.

 

		7.5.	Notwithstanding anything to the contrary herein, Licensee shall be entitled to disclose this Agreement
to potential investors subject to standard confidentiality obligations, and such disclosure shall not be deemed breach of this
Agreement.

 

		7.6.	The termination of this Agreement for whatever reason shall not release the parties from any of
its obligations under this Section 7.

 

		8.	TITLE

 

		8.1.	Subject to the License, all right, title and interest in and to all ideas, methods, processes,
techniques and know-how comprising the Licensed Technology and any documents or other materials containing Licensed Technology
shall vest in Licensor exclusively.

 

		8.2.	It is hereby expressly agreed that all right, title and interest in and to the ideas, methods,
developments, modifications, improvements, processes, techniques and know-how made or developed by Licensee and which are based
on the Licensed Technology (the "Developments") shall vest in Licensee exclusively. It is further agreed
that results of all experimentation and clinical trials relating to any of Licensee’s proprietary technology, no matter by
whom performed, including but not limited to results gained from experiments relating to the use of the Licensee’s proprietary
technology together with the Licensed Technology, shall vest solely in Licensee.

 

		8.3.	All ideas, methods, processes, techniques and know-how made or developed by Licensee prior to and/or
in the course of or related to the performance of this Agreement and/or exercise of the Licensee shall vest in Licensee exclusively.

 

		9.	INFRINGEMENT

 

		9.1.	Licensor will indemnify Licensee against any cost, liability and expense (including
reasonable counsel fees) sustained by it in connection with any claim, suit or proceeding brought by any third party based on
a claim that the Licensed Technology infringes a patent, copyright, trademark or other intellectual property right of any third
party; provided, however, that Licensee shall:

 

		(i)	Give Licensor prompt written notice, as soon as legally permissible, of any such claim,
suit or proceeding;

 

		(ii)	Reasonably cooperate with Licensor in relation to any such claim, suit or proceeding
by way of, inter alia, the provision of assistance, information and authority necessary to perform the above.

 

		9.2.	Licensee may, at Licensee's sole discretion, set off such indemnified amounts
due by Licensor to Licensee against the Transaction Consideration.

 

    9

     

    

 

		10.	INDEMNIFICATION; LIMITATION OF LIABILITY

 

		10.1.	Indemnification by Licensor. Subject to the provisions of this Section 10, Licensor agrees
to defend, indemnify and hold harmless Licensee and its directors, officers, agents, employees, successors and assigns, from and
against any and all actions, causes of action, judgments, awards and liabilities (collectively, the “Losses”)
to the extent arising from or relating to (i) any breach by Licensor of any of its covenants or provisions contained in this Agreement;
and (ii) any breach of any warranty or representation of Licensor contained in this Agreement. Notwithstanding anything to the
contrary herein, Licensor shall not be liable under this Section 10 with respect to any Losses directly attributable to the gross
negligence or willful misconduct of Licensee or to any breach by Licensee of any of its covenants or agreements, warranty or representation
contained in this Agreement.

 

		10.2.	Indemnification by Licensee. Subject to the provisions of this Section 10, Licensee agrees
to defend, indemnify and hold harmless Licensor and its respective directors, officers, agents, employees, successors and assigns,
from and against any and all Losses to the extent arising from or relating to the exercise by Licensee of the License or any other
rights granted herein. Notwithstanding anything to the contrary herein, Licensee shall not be liable under this Section 10 with
respect to any Losses directly attributable to the gross negligence or willful misconduct of Licensor or to any breach by Licensor
of any of its covenants or agreements, warranty or representation contained in this Agreement.

 

		10.3.	To invoke the indemnification undertakings provided for herein, the Party seeking indemnification
(the “Indemnified Party”) shall give prompt notice in writing after any such claim, demand or proceeding
becomes known to the Party from which indemnification is sought (the “Indemnifying Party”) The Indemnifying
Party shall have the sole discretion to settle any claims without the respective Indemnified Party’s consent (unless such
settlement would require such Indemnified Party to make any unindemnified payment or adversely affect its rights, including but
not limited to any of its rights in or to the Licensed Technology, the Developments and other intellectual property rights, as
applicable, in which case the written consent of the Indemnified Party shall be required prior to such settlement, and such consent
shall not be unreasonably withheld). The Indemnifying Party shall have the sole right to retain and select counsel to represent
its interests in defending any claim as part of its indemnification obligation and such Party shall fully control such defense
at its sole cost and expense. Upon request and at the Indemnifying Party’s sole cost and expense, the Indemnified Party shall
provide reasonable assistance necessary to defend any claim. In the case of a final award of damages in any such matter, the Indemnifying
Party shall pay such award, but shall not be responsible for any settlement made without its prior written consent, which shall
not be unreasonably withheld.

 

		10.4.	Limitation on Liability. Except in connection with fraud or intentional misrepresentation
on the part of either Party, the aggregate liability of the Licensee under this Agreement or any document or certificate executed
or delivered in connection with this Agreement shall not exceed the aggregate amount actually paid by Licensee to Licensor under
this Agreement.

 

    10

     

    

 

		10.5.	No Consequential Damages. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, NO
PARTY TO THIS AGREEMENT SHALL BE LIABLE TO OR OTHERWISE RESPONSIBLE TO THE OTHER PARTY OR ANY AFFILIATE OF THE OTHER PARTY FOR
LOST REVENUES OR PROFITS OR INCIDENTAL, CONSEQUENTIAL, PUNITIVE, EXEMPLARY OR MULTIPLIED DAMAGES OR ATTORNEYS FEES OR COSTS THAT
ARISE OUT OF OR RELATE TO THIS AGREEMENT OR THE PERFORMANCE OR BREACH HEREOF OR ANY LIABILITY RETAINED OR ASSUMED HEREUNDER; PROVIDED,
HOWEVER, THAT THE FOREGOING SHALL NOT BE CONSTRUED TO PRECLUDE RECOVERY IN RESPECT OF ANY LOSS DIRECTLY INCURRED OR SUFFERED FROM
THIRD PARTY CLAIMS IN CONNECTION WITH INTELLECTUAL PROPERTY AND CONFIDENTIALITY.

 

		11.	TERM AND TERMINATION

 

		11.1.	The term of this Agreement shall commence on the Effective Date and hall continue in full force
and effect unless earlier terminated as provided in this Article 11.

 

		11.2.	Termination 

 

11.2.1Without
Cause. Licensee may terminate this Agreement upon sixty (60) days prior written notice to the Licensor.

 

11.2.2Termination
for Default. In the event that either Party commits a material breach of its obligations
under this Agreement and such party fails to cure such breach within one hundred and twenty (120) days after receiving written
notice thereof, the other party may terminate this Agreement immediately upon written notice to the party in breach.

 

11.2.3Termination
for Bankruptcy. Each Party may terminate this Agreement upon notice to the other Party if such other Party (a) suffers
bankruptcy proceedings under any law which is not dismissed or stayed within ninety (90) days; (b) is adjudicated insolvent or
bankrupt, which adjudication is not dismissed within one hundred and twenty (120) days; (c) admits in writing its inability to
pay a significant portion of its debts; (d) voluntarily has a custodian, receiver or trustee appointed for it or substantially
all of its assets; or (e) involuntarily has a custodian, receiver or trustee appointed for it or substantially all of its assets,
which custodian, receiver or trustee is not discharged within ninety (90) days.

 

		11.3.	Effect of Termination. 

 

11.3.1Termination
of Rights. Upon termination of this Agreement by either Party pursuant to any of the provisions of Section 11.2, the rights
granted to Licensee by Licensor under the License shall terminate and the Licensed Technology shall be reverted to Licensor ("Termination
Effect"). The Licensee shall return or transfer to Licensor, within forty five 45 days of termination of the License,
all material, in soft or hard copy, relating directly to the Licensed Technology (other than Developments which shall be subject
to the provisions of Section 11.3.2 below), and it may not make any further use thereof.

 

    11

     

    

 

11.3.2Notwithstanding
anything to the contrary, in the event that the Transaction Consideration due to Licensor during the first year as of the Effective
Date is not duly paid by Licensee, in addition to the Termination Effect, all intellectual property under the License, including
any Developments (as defined above), shall be licensed to Licensor by Licensee, and licensor shall pay to Licensee the applicable
Special Consideration, mutatis mutandis.

 

11.3.3Notwithstanding
anything to the contrary herein, in the event that Licensee terminates this Agreement in accordance with Section 11.2.3, Licensor
shall transfer and assign to Licensee all rights and title in and to the Licensed Technology, to the extent legally permissible,
for no consideration.

 

11.3.4Accruing
Obligations. Termination or expiration of this Agreement shall not relieve the parties of obligations accruing prior to
such termination or expiration, including obligations to pay amounts accruing hereunder up to the date of termination or expiration.
Licensor shall refund all unspent payments in accordance with the respective Development Plan attributable to any payment previously
made by Licensee to Licensor. Alternatively, Licensee shall be entitled to credit such refundable amounts against payments due
from Licensee to Licensor in connection with this Agreement.

 

The parties shall
work together in good faith to secure an orderly wind-down of termination that will minimize the costs to the Parties of such wind-down.

 

11.3.5Survival.
The Parties’ respective rights, obligations and duties under Sections 7 through 10 and 11.3, as well as any rights, obligations
and duties which by their nature extend beyond the expiration or termination of this Agreement, shall survive any expiration or
termination of this Agreement.

 

		12.	MISCELLANEOUS
                                         PROVISIONS

 

		12.1.	Governing Law. It is expressly agreed that the validity, performance and construction
of this Agreement shall be governed by the laws of the State of Israel. Any dispute arising under or in relation to this Agreement
shall be resolved in the competent court for the Tel Aviv-Jaffa district, and each of the parties hereby submits irrevocably to
the jurisdiction of such court.

 

		12.2.	Assignment.

 

12.2.1None of
the rights, privileges, or obligations set forth in, arising under, or created by this Agreement may be assigned or transferred
without the prior consent in writing of each party to this Agreement, except by the Licensee in the event of an M&A Transaction,
provided, however that the assignee agrees in writing to be bound by the terms hereof.

 

12.2.2Notwithstanding
the above, Licensor may assign the Initial Option and/or the Additional Option (or any part thereof) to a third party, provided,
however, that such third party shall exercise such assigned Initial Option and/or the Additional Option (or any part thereof) in
full (the "Assignee" and the "Assigned Option"). In the event that the Assigned Option
would not entitle the Assignee, upon exercise, to 25% or more of the voting rights in the Licensee, the assignment shall be subject
to the prior written approval of the Licensee's management.

 

    12

     

    

 

In the event that
the Assigned Option would entitle the Assignee, upon exercise, to 25% or more of the voting rights in the Licensee, the assignment
shall be subject to the prior written approval of the Licensee's Audit Committee.

 

For the purpose of
calculating the percentage of the voting threshold herein, the voting rights shall be calculated aggregately based on any voting
rights in the Licensee held by such Assignee immediately prior to such assignment in addition to any prior Assigned Option(s) granted
to any third party under this provision.

 

Licensor is not entitled
to assign any provision or right provided hereunder other than as set above.

 

12.2.3Any assignment
in accordance with this Section 11 shall be subject to any additional approvals and procedures as prescribed under the applicable
law and regulation.

 

		12.3.	Invoices. All payments due according to this Agreement shall be paid against applicable
invoice, to be submitted to the Licensee at least fourteen (14) days before such payment is due.

 

		12.4.	Value Added Tax. All amounts to be paid pursuant to this Agreement are exclusive
of Value Added Tax; Licensor shall add Value Added Tax,
as required by law, to all such amounts. If Licensee is required is required to withhold any amounts payable hereunder to Licensor
due to applicable law, such amount will be deducted from the payment to be made by Licensee and remitted to the appropriate taxing
authority for the benefit of Licensor. Licensee will cooperate with Licensor to provide information and records as Licensor may
require in connection with any application by Licensor to the tax authorities.

 

		12.5.	Expenses. Each Party shall bear its own expenses involved in the making of this Agreement

 

		12.6.	Severability. In the event that any term or provision of this Agreement shall be
unenforceable or invalid under any applicable law or be so held by applicable court decision, such unenforceability or invalidity
shall not render this Agreement unenforceable or invalid as a whole, and, in such event, such provision shall be changed and interpreted
so as to best accomplish the objectives of such unenforceable or invalid provision within the limits of applicable law or applicable
court decisions.

 

		12.7.	Notices. All notices or other communications required or permitted to be given pursuant
to this Agreement shall be in writing and shall be telecopies or mailed by registered or certified airmail, postage prepaid, or
otherwise delivered by hand or by messenger, to both the Licensor and Licensee, according to their registered addresses, or such
other address with respect to a Party as such party shall notify the other Party. Any notice sent in accordance with this Section
11.6 shall be effective: (i) if mailed, seven (7) business days after mailing; (ii) if sent by messenger, upon delivery; and (iii)
if sent via telecopies, upon transmission and electronic confirmation of receipt or (if transmitted and received on a non-business
day) on the first business day following transmission and electronic confirmation of receipt.

 

    13

     

    

 

		12.8.	Waiver and Survival. No term or provision hereof shall be deemed waived and no breach
hereof shall be deemed consented to or excused, unless such waiver, consent or excuse shall be expressed in writing and signed
by the party claimed to have so waived, consented or excused. Should either party consent, waive or excuse a breach by the other
party, such consent, waiver or excuse shall not constitute a consent to, waiver of, or excuse of any other or subsequent breach
whether or not of the same kind as the original breach.

 

		12.9.	Force Majeure. Neither Party shall be responsible for any delay or failure in performance
hereunder caused in whole or in part by fires, strikes, floods, embargoes, acts of sabotage, riots, civil unrest, accidents, delays
of carriers or suppliers, voluntary or mandatory compliance with any governmental act, regulation or request, acts of God or by
public enemy, or other acts or omissions occurring without the fault or negligence of the Parties.

 

		12.10.	Entire Agreement and Amendment. This Agreement, along with the exhibits annexed hereto,
sets forth the entire agreement and understanding of the parties with respect to the subject matter hereof, and contains all of
the promises, undertakings and other representations made by the Parties to each other prior to its execution, all of which are
merged herein. This Agreement supersedes and shall prevail over all prior oral and written agreements and understandings with respect
to the subject matter hereof. Each party acknowledges that it is not entering into this Agreement on the basis of any representations
not expressly contained herein. No subsequent amendment to this Agreement will be of any effect unless executed in writing and
signed by both of the Parties.

 

		12.11.	Due Execution. Subject to Section 2.4 above, each Party represents that the execution,
delivery and performance by such party of this Agreement and all transactions contemplated hereby have been duly and validly authorized
by all necessary actions on the part of such Party and that neither this Agreement nor the performance hereunder by either Party
is in violation of such Party’s obligations, contractual or otherwise, to any government, agency or any other Party or Parties.

 

		12.12.	Headings. The headings and captions contained in this Agreement shall not be considered
to be a part hereof for purposes of interpreting same, but are for convenience only.

 

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

 

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IN WITNESS WHEREOF, the parties have caused
this Agreement (which includes the clauses on the attached schedules or exhibits) to be executed by their duly authorized representatives
as of the date first above written.

 

	THERAPIX BIOSCIENCES LTD.

	 	DEKEL PHARMACEUTICALS LTD.
	 	 	 	 
	/s/ Zohar Heiblum	/s/ Amit Berger	 	/s/ Ascher Shmulewitz
	Signature (By)	 	Signature (By)
	 	 	 	 
	Zohar Heiblum	Amit Berger	 	Ascher Shmulewitz
	Name	 	Name
	 	 	 	 
	Director	Director	 	Chairman
	Title	 	Title
	 	 	 	 
	20 May 2015	20 May 2015	 	20
    May 2015
	Date	 	Date

 

    

     

    

 

Exhibit A

 

Patents and Patent Applications

 

[THE CONFIDENTIAL PORTION HAS BEEN SO OMITTED PURSUANT
TO A REQUEST FOR CONFIDENTIAL TREATMENT AND HAS BEEN FILED SEPARATELY WITH THE COMMISSION]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00264-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00264-of-00352.parquet"}]]