Document:

BioNTech
SE

 

2020
Restricted Stock Unit plan for 

North America EMPLOYEES

 

Effective
December 15, 2020

    	 

    	 

    

TABLE
OF CONTENTS

	ARTICLE 1 ADMINISTRATION	1
	ARTICLE 2 ELIGIBILITY	1
	ARTICLE 3 PLAN VOLUME AND GRANT OF RSUs	1
	ARTICLE 4 TREATMENT UPON TERMINATION	2
	ARTICLE 5 SETTLEMENT	2
	ARTICLE 6 TRANSFERABILITY, BENEFICIARIES, AND SHAREHOLDER RIGHTS	4
	ARTICLE 7 CHANGE IN CONTROL	4
	ARTICLE 8 ADJUSTMENT IN CASE OF SPECIFIC CAPITAL AND OTHER STRUCTURAL MEASURES	4
	ARTICLE 9 INSIDER TRADING AND BLACK-OUT PERIODS	5
	ARTICLE 10 FORFEITURE AND CLAWBACK	5
	ARTICLE 11 LIMITATION OF LIABILITY	6
	ARTICLE 12 TAXES AND WITHHOLDING	6
	ARTICLE 13 FORM REQUIREMENTS	7
	ARTICLE 14 GOVERNING LAW	7
	ARTICLE 15 EFFECTIVE DATE, AMENDMENT, AND TERMINATION	7
	ARTICLE 16 GENERAL PROVISIONS	8

    	 

    	 

    

BACKGROUND

An attractive
and competitive remuneration program is essential for the recruitment and long-term commitment of highly qualified employees.
BioNTech SE (“BioNTech” or the “Company”) is implementing this 2020 Restricted
Stock Unit Plan for North America Employees (the “Plan”) as a long-term remuneration component for employees
of BioNTech and its direct and indirect subsidiaries (collectively, the “Group”). Under the Plan, the
Company is authorized to grant “Restricted Stock Units” (“RSUs” and each a “RSU”)
to eligible individuals, which—if certain requirements are met—provide the individual with cash payment, the amount
of which depends on the quoted price on the Nasdaq Global Select Market or successor trading market thereto (“Nasdaq”)
of American Depository Shares (“ADSs”), each representing one ordinary share of the Company with no
par value and a nominal amount attributable to each share of €1.00 (the “Shares”). The Plan shall
also include a substitution right of the Company, permitting it to settle RSUs by delivering ADSs or Shares instead of cash under
certain circumstances.

ARTICLE
1

ADMINISTRATION

		1.1.	The
                                         Plan shall be administered by the “Administrator”, which shall
                                         be the Company’s Management Board (Vorstand), provided that, to the extent
                                         permitted by applicable law and the Company’s governing documents, the Company’s
                                         Management Board (Vorstand) may delegate any or all of its powers under the Plan
                                         to any entity in the Group or one or more committees or officers of the Company or any
                                         entity in the Group.

		1.2.	The
                                         Administrator shall have full discretionary
                                         authority to grant awards under the Plan, construe and interpret the Plan and any Award
                                         Agreements (as defined below) and to determine all facts necessary to administer the
                                         Plan and any Award Agreements. All decisions by the Administrator shall be made in its
                                         discretion, exercised in good faith, and shall be final and binding on all persons having
                                         or claiming any interest in the Plan or in any Award. 

ARTICLE
2

ELIGIBILITY

RSUs
may be granted to employees of the Group who are resident in North America, including in the United States and Canada. Individuals
who receive RSUs are referred to as “Participants”.

ARTICLE
3

PLAN VOLUME AND GRANT OF RSUs

		3.1.	Under
                                         the Plan, an unlimited number of RSUs may be granted, of which up to an aggregate of
                                         230,000 RSUs may provide for settlement in ADSs or Shares. Those ADSs or Shares underlying
                                         RSUs that may be settled in ADSs or Shares will once again be available for future grants
                                         under the Plan upon the forfeiture or termination of such RSUs prior to settlement, settlement
                                         in cash of such RSUs, or if such ADSs or Shares are withheld to cover tax withholding
                                         or if such ADSs or Shares are retransferred to the Company following settlement.

    	1

    	 

    

		3.2.	The
                                         Administrator will determine the number of RSUs to be granted to a Participant by way
                                         of a separate award agreement (an “Award Agreement”). Subject
                                         to the Plan, each Award Agreement shall include provisions, terms and conditions applicable
                                         to the award which may include, but are not limited to, the vesting schedule, settlement
                                         date, restrictions, payment contingencies and satisfaction of any performance criteria,
                                         as the Administrator may deem appropriate, provided that such provisions shall comply
                                         with any applicable legal requirements. All of the terms and conditions of an award shall
                                         be as set forth in the applicable Award Agreement or in the Plan.

ARTICLE
4

TREATMENT UPON TERMINATION

		4.1.	Except
                                         as otherwise specified in an Award Agreement, upon termination of a Participant’s
                                         employment relationship with the Group due to death or Disability (as defined below),
                                         such Participant shall vest in a Pro-Rata Portion (as defined below) of the RSUs subject
                                         to each outstanding Award Agreement as of the date of termination, to the extent such
                                         Pro-Rata Portion had not already vested pursuant to the terms of the applicable Award
                                         Agreement. Except as otherwise specified in an Award Agreement and this Section 4.1,
                                         upon termination of a Participant’s employment, any outstanding and unvested RSUs
                                         shall automatically forfeit.

		4.2.	As
                                         used herein:

		4.2.1.	“Disability”
                                         means the Participant is “disabled” within the meaning of Section 409A of
                                         the Internal Revenue Code of 1986, as amended (the “Code”).

		4.2.2.	“Pro-Rata
                                         Portion” means the amount, rounded down to the nearest whole number, calculated
                                         by multiplying the number of RSUs subject to an Award Agreement by a fraction, the numerator
                                         of which is the number of complete months from the date of grant (or other specified
                                         vesting commencement date) to and including the date of termination, and the denominator
                                         of which is the number of complete months in the vesting period.

ARTICLE
5

SETTLEMENT

		5.1.	Upon
                                         satisfaction of any vesting or other applicable conditions to be specified in an applicable
                                         Award Agreement, RSUs shall be settled in cash, ADSs and/or Shares, in accordance with
                                         Section 5.2, 5.3 and/or 5.4, as applicable, at the Company’s election in writing
                                         to the Participant or other beneficiary pursuant to Section 6.2. An Award Agreement may—but
                                         need not—specify that settlement shall only occur in cash, ADSs, or Shares, and,
                                         except as otherwise provided in the applicable Award Agreement, RSUs may be settled in
                                         a combination thereof. Except as otherwise provided in the applicable Award Agreement,
                                         the Administrator shall cause cash amounts to be paid, or ADSs or Shares to be transferred,
                                         as applicable, within 90 days following the satisfaction of the vesting conditions, but,
                                         in any event, no later than March 15 of the year following the year in which the applicable
                                         RSUs vest.

    	2

    	 

    

		5.2.	RSUs
                                         may be settled by issuance of Shares at an issue price of €1 per Share or transfer
                                         of Shares of the Company held in treasury. In the case of a settlement under this Section
                                         5.2 by issuance of Shares at an issue price of €1 per Share, the number of Shares
                                         to be issued shall be the number of vested RSUs plus an additional number of Shares to
                                         compensate for the cost of paying the issue price on the vested RSUs (such additional
                                         number of Shares to be calculated by reference to the closing sale price of an ADS on
                                         Nasdaq on the vesting date, rounded down to the nearest whole number).

		5.3.	RSUs
                                         may be settled by issuance of ADSs at an issue price of €1 per underlying Share
                                         or transfer of ADSs representing treasury shares held by the Company. In the case of
                                         a settlement under this Section 5.3 by issuance of ADSs at an issue price of €1
                                         per underlying Share, the number of ADSs to be issued shall be the number of vested RSUs
                                         plus an additional number of ADSs to compensate for the cost of paying the issue price
                                         on the vested RSUs (such number of additional ADSs to be calculated by reference to the
                                         closing price of an ADS on Nasdaq on the vesting date, rounded down to the nearest whole
                                         number).

		5.4.	RSUs
                                         may be settled by payment in the form of cash (a “Cash Settlement”).
                                         In the case of a Cash Settlement, the amount payable shall be the value of the ADSs representing
                                         treasury shares held by the Company that would be transferred pursuant to the first sentence
                                         of Section 5.3 in absence of this Section 5.4, calculated on the basis of the closing
                                         price of the ADSs on Nasdaq on the vesting date.

		5.5.	Any
                                         RSU settled in ADSs or Shares shall include such provisions as are required by the applicable
                                         shareholder resolution authorizing the issuance or transfer of the ADS or the Shares.
                                         In the event of a settlement in ADSs or Shares (in both cases, the “Share
                                         Settlement”), the Participant will be required to take all measures necessary
                                         to effect the Share Settlement, including, for example, the payment of the issue price
                                         and the execution of a subscription form (in the case of the issuance of Shares) as well
                                         as the opening of an account to which the ADSs or Shares may be booked. In the case of
                                         a Share Settlement, the Company may make such settlement by issuing new Shares (including
                                         those in the form of new ADSs in the case of a settlement under Section 5.3) or by transferring
                                         Shares held by the Company.

		5.6.	For
                                         the purpose of calculating any sums due under or in connection with an Award Agreement,
                                         any conversions between Dollars and Euro equivalents shall use the Company’s standard
                                         conversion methodology consistent with International Financial Reporting Standards.

    	3

    	 

    

ARTICLE
6

Transferability, BENEFICIARIES, AND SHAREHOLDER RIGHTS

		6.1.	Neither
                                         the RSUs nor the rights of any Participant under any RSU or under the Plan are assignable
                                         or otherwise transferable except as provided in this Section 6.

		6.2.	The
                                         RSUs are transferable only by will or applicable laws of descent upon the death of the
                                         relevant Participant. Notwithstanding the terms of the applicable Award Agreement, the
                                         Company shall have the right to effect a Cash Settlement of any RSUs held by a beneficiary.
                                         If permitted by the Company’s Management Board (Vorstand) by separate declaration,
                                         the Administrator may, from time to time, prescribe a form on which a Participant may
                                         designate, or change, such Participant’s beneficiary/ies under the Plan.

		6.3.	No
                                         Participant shall become a shareholder or ADS holder or obtain any rights of a shareholder
                                         or ADS holder, including any voting rights, by virtue of participation in the Plan or
                                         by the receipt, holding or vesting of RSUs. A Participant shall become a holder of ADSs
                                         or Shares, as the case may be, with respect to RSUs only following a Share Settlement
                                         in accordance with the Plan and subject to all conditions imposed hereunder and under
                                         the applicable Award Agreement. No dividends or dividend equivalents shall be payable
                                         with respect to RSUs or otherwise under the Plan.

ARTICLE
7

CHANGE IN CONTROL

If a
third party gains control of the Company or of the entity in the Group employing a Participant (a “Change in Control”),
all outstanding and unvested RSUs held by the affected Participants shall vest in full as of immediately prior to such Change
in Control, provided that, to the extent necessary to avoid the imposition of additional taxes under Section 409A of the Code,
such accelerated vesting shall only occur if the Change in Control qualifies as a change in control event within the meaning of
Section 409A of the Code. In the event of a Change in Control, the Company shall have the discretion to provide (a) for a Cash
Settlement of RSUs, which may be based on the formula in Section 5.4 or based on the value of the consideration payable in the
Change in Control, (b) that RSUs may be settled via the form of consideration payable in the Change of Control, or (c) for any
combination of (a), (b) and/or settlement in ADSs or Shares. The existence of a Change in Control shall be determined by analogous
application of Section 29 f. of the German Securities Acquisitions and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz)
with the proviso that ADSs are equivalent to voting rights from Shares.

ARTICLE
8

ADJUSTMENT IN CASE OF SPECIFIC CAPITAL AND OTHER STRUCTURAL MEASURES

		8.1.	In
                                         the event of a reduction in the number of Shares by merging Shares without capital reduction
                                         (reverse share split) or an increase in the number of Shares without capital increase
                                         (share split) (each, an “Adjustment Event”), the number of
                                         RSUs granted hereunder will change in the same proportion.

		8.2.	In
                                         the event of a corporate transaction or restructuring of the Company that does not constitute
                                         a Change in Control, any surviving entity, or the parent company of the surviving entity,
                                         may assume and continue such awards, subject to appropriate equitable adjustments.

		8.3.	If
                                         an adjustment occurs in accordance with this Article 8, fractions of ADSs or Shares will
                                         not be granted nor will they be compensated by a payment in cash.

    	4

    	 

    

ARTICLE
9

INSIDER TRADING AND BLACK-OUT PERIODS

		9.1.	Any
                                         transaction in the ADSs or Shares granted in case of a Share Settlement (each a “Transaction”)
                                         must be conducted in compliance with (i) all applicable insider trading laws and regulations,
                                         and (ii) all provisions of any insider trading rules established by the Company ((i)
                                         and (ii) together the “Insider Trading Rules”). Each Participant
                                         is personally responsible for informing himself or herself about, and acting in full
                                         compliance with, all applicable Insider Trading Rules. Any individual non-compliance
                                         with applicable Insider Trading Rules may lead to the imposition of civil and criminal
                                         penalties (as the case may be).

		9.2.	The
                                         Company may postpone or delay the settlement of any RSUs by way of a Cash Settlement
                                         or Share Settlement or a combination of both to a later point in time due to restrictions
                                         under applicable laws and regulations or rejections from competent authorities. With
                                         respect to any Participants subject to U.S. taxation, such postponement or delay shall
                                         be with due regard to maintaining such RSUs’ intended status as exempt from or
                                         compliant with Section 409A of the Code.

		9.3.	In
                                         order to minimize the potential for prohibited insider trading, the Company’s Management
                                         Board (Vorstand) may establish in its sole discretion periods from time to time
                                         during which all or some of the Participants may not engage in transactions involving
                                         ADSs or Shares granted in case of a Share Settlement.

ARTICLE
10

FORFEITURE AND CLAWBACK

		10.1.       
                                         	Any
                   outstanding and unsettled awards shall be subject to forfeiture in the event of (i) the Participant’s
                   termination of employment for cause, (ii) the Participant’s material violation of material company policies,
                   (iii) the Participant’s breach of any noncompetition, confidentiality or other restrictive covenants
                   with the Group that may apply to such Participant, or (iv) other material misconduct by the Participant that
                   is, or could reasonably be expected to be, detrimental to the business or reputation of the Company or any
                   other entity in the Group.

		10.2.	All
                                         awards under this Plan (including any proceeds, gains or other economic benefit the Participant
                                         actually or constructively receives upon receipt or settlement of RSUs or the receipt
                                         or resale of any ADSs or Shares) will be subject to any Group claw-back policy, including
                                         any claw-back policy adopted to comply with applicable laws (including the United States
                                         Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or regulations
                                         promulgated thereunder) as set forth in such claw-back policy or the Award Agreement.

    	5

    	 

    

ARTICLE
11

LIMITATION OF LIABILITY

		11.1.	The
                                         Company, the Group and the Administrator (nor any of its or their management board members,
                                         supervisory board members or employees) do not:

		11.1.1.	assume
                                         any responsibility or liability for the development of the value or market price of the
                                         ADSs or Shares, including during the period between the satisfaction of any vesting conditions
                                         and settlement of the RSUs;

		11.1.2.	warrant,
                                         assure or guarantee a profit of a Participant from the Plan or any RSU granted thereunder;
                                         or

		11.1.3.	warrant,
                                         assure or guarantee any increase in value of the RSUs or, following a Share Settlement,
                                         the value or market price of the ADSs or Shares; in particular, it is neither warranted,
                                         assured or guaranteed that a Participant will be able to sell his/her ADSs or Shares
                                         with a profit in the future, nor that no loss will be incurred.

		11.2.	Each
                                         Participant declares with his/her participation in the Plan that the participation is
                                         voluntary. Each Participant is aware of the fact that he/she alone bears the risk of
                                         a decrease in or total loss of value of the RSUs or, following a Share Settlement, the
                                         ADSs or Shares. Each Participant accepts the offer to participate in the Plan at his/her
                                         own risk and assumes any liability relating thereto.

		11.3.	Each
                                         Participant accepts that settlement of vested RSUs may be delayed or even forfeited,
                                         if he/she does not provide the information requested and required by the Company to perform
                                         the Cash Settlement and/or the Share Settlement, in particular, the information in Section
                                         5.5.

		11.4.	Each
                                         Participant is responsible for obtaining his/her own legal, tax and any other necessary
                                         advice before participating in the Plan and for evaluating the tax effects connected
                                         with the Plan. Each Participant accepts and declares that he/she has not been advised
                                         by or on behalf of the Group with respect to his/her participation in the Plan (in particular,
                                         regarding legal and tax issues of such participation).

ARTICLE
12

TAXES AND WITHHOLDING

		12.1.	Each
                                         Participant is obligated to make appropriate arrangements with the Company (or the entity
                                         in the Group employing the Participant) for the satisfaction of all U.S. federal, state,
                                         local and foreign income, employment, social insurance and/or other tax withholding requirements
                                         and any other foreign tax requirements applicable to the award, vesting or settlement
                                         of RSUs. The Company may refuse to settle RSUs and refuse to deliver Shares, ADSs, cash
                                         or other compensation upon settlement if such withholding amounts are not delivered at
                                         the time of settlement. Regardless of the amounts withheld, the Participant shall remain
                                         responsible for taxes owed by the Participant in connection with RSUs.

    	6

    	 

    

		12.2.	The
                                         compensation and benefits under the Plan are intended to comply with or be exempt from
                                         the requirements of Section 409A of the Code, and the Plan and each Award Agreement hereunder
                                         will be interpreted and administered in a manner consistent with the requirements for
                                         avoiding taxes or penalties under Section 409A of the Code. If an award of RSUs is subject
                                         to Section 409A of the Code, any payment made to a Participant who is a “specified
                                         employee” of the Group shall not be made before such date as is six months after
                                         the Participant’s “separation from service” to the extent required
                                         to avoid the adverse consequences of Section 409A of the Code. For purposes of this Section
                                         12.2, the terms “separation from service” and “specified employee”
                                         shall have the meanings set forth in Section 409A of the Code and the applicable U.S.
                                         Treasury regulations. Nothing in the Plan or in an Award Agreement shall be interpreted
                                         or construed to transfer any liability for any tax (including a tax or penalty due as
                                         a result of a failure to comply with Section 409A of the Code) to the Company, any entity
                                         in the Group, or to any other individual or entity, and the Group shall have no liability
                                         to a Participant, or any other party, if an Award that is intended to be exempt from,
                                         or compliant with, Section 409A of the Code is not so exempt or compliant.

ARTICLE
13

FORM REQUIREMENTS

		13.1.	Any
                                         legal statements and other notices in connection with the Plan or an Award Agreement
                                         (collectively, the “Notices”) shall be made in text form or
                                         electronic form (e.g., email) unless any other specific form is required by applicable
                                         law or the Plan or applicable Award Agreement. Any Notice to be delivered to the Company
                                         under the Plan shall be addressed by email to LTI@biontech.de. The Company shall communicate
                                         changes in the address set forth in the previous sentence as soon as possible to the
                                         Participants. In the absence of such communication, the address stated above shall remain
                                         in place.

		13.2.	Any
                                         Notice to be given to a Participant may be served by being sent to him/her by email or
                                         to his/her home or business address. Each Participant shall communicate changes of address
                                         as soon as possible to the Company.

ARTICLE
14

GOVERNING LAW

The
Plan, any RSUs granted hereunder and each Award Agreement shall be exclusively governed by, and be construed in accordance with,
the laws of the Federal Republic of Germany, without regard to principles of conflicts of laws.

ARTICLE
15

EFFECTIVE DATE, AMENDMENT, AND TERMINATION

		15.1.	The
                                         Plan shall become effective on December 15, 2020. It shall continue in effect December
                                         31, 2023 unless sooner terminated, provided that upon termination of the Plan, any outstanding
                                         awards shall continue in effect, subject to the terms of the Plan, including Section
                                         15.2.

    	7

    	 

    

		15.2.	Subject
                                         to the requirements of applicable law, the Company may at any time amend, suspend or
                                         terminate the Plan, and the Company or the Administrator may amend, suspend or terminate
                                         any outstanding award of RSUs hereunder; provided that any such amendment, suspension
                                         or termination shall require the consent of a Participant whose RSUs are impacted unless
                                         the Company or the Administrator determines that such RSUs are not materially and adversely
                                         impacted or that such amendment, suspension or termination is required by applicable
                                         law.

ARTICLE
16

GENERAL PROVISIONS

		16.1.	In
                                         the Plan, the headings are inserted for convenience only and shall not affect the interpretation
                                         of the Plan; where a German term has been inserted in italics, it alone (and not
                                         the English term to which it relates) shall be authoritative for the purpose of the interpretation
                                         of the relevant English term in the Plan. The terms “including” and “in
                                         particular” shall always mean “including, without limitation” and “in
                                         particular, without limitation”, respectively. Any reference made in the Plan to
                                         any section without further indication of a law, an agreement or another document shall
                                         mean sections of the Plan. A “subsidiary” of a company shall mean an entity
                                         in which such company holds a direct or indirect controlling interest.

		16.2.	In
                                         the event that one or more provisions of the Plan shall, or shall be deemed to, be invalid
                                         or unenforceable, the validity and enforceability of the other provisions of the Plan
                                         shall not be affected thereby.

		16.3.	Neither
                                         the grant of an award under this Plan nor any term or provision of this Plan shall constitute
                                         or be evidence of any promise, undertaking, or obligation, express or implied, on the
                                         part of any entity in the Group, to make any future or other grant of an award under
                                         this Plan.

		16.4.	The
                                         Plan shall not confer upon any Participant any right to employment or service with any
                                         entity in the Group, nor shall it interfere in any way with any right of any entity in
                                         the Group to terminate a Participant’s employment or service.

		16.5.	The
                                         Plan shall be unfunded with respect to outstanding RSUs. A Participant’s, and any
                                         beneficiary’s, rights under the Plan are those of an unsecured creditor unless
                                         and until ADSs or Shares are issued to such Participant or beneficiary.

		16.6.	Unless
                                         otherwise specified by the applicable plan or policy, the value of RSUs shall not be
                                         included in a Participant’s compensation for purposes of other benefits provided
                                         by the Group.

* * * *

    	8Exhibit 10.1

    

     

    

    Date: ____________.

     

    Attn.

     

    _________

     

    

    

    Dear Sir or Madam,

     

    Re: Letter of Indemnification

     

      

    Whereas:    The Articles of Association of ______________ (“the Company”)
      allow the Company to indemnify office holders (nosei misra) of the Company;

     

    And

     

    Whereas    On _______ the Company's Board of Directors resolved, after
      having received approval of the Company’s Audit Committee,  to approve the provision in advance of indemnification for the office holders of the Company and/or of the Other Company (as such term is defined below) in accordance with the terms of
      indemnification stipulated in this letter, and insofar as  the Company granted you a letter of indemnification prior to the date of grant of this letter of indemnification, then your signature on this letter of indemnification will cancel the
      previous letter of indemnification, and the provisions of this letter of indemnification will enter into force;

     

    And

     

    Whereas:    On _______ the Company’s General Meeting also approved such
      resolution;

     

    And

     

    Whereas:    You serve and/or are employed as an office holder of the Company
      and/or of the Other Company;

     

    We hereby inform you as follows:

     

    	1.	
            The Company hereby undertakes, subject to the provisions of the law and of the Company’s Articles of Association, as follows:

          

     

    	

          	1.1.	
            In your capacity as an office holder of the Company, the Company hereby undertakes to indemnify you in advance for any liability and/or expense, as detailed below, that will be imposed on you or that you expend due to actions you took
              (including prior to the date of this letter of indemnification), or that you will take, in your capacity as an employee or office holder of the Company or in your capacity as an employee or office holder, at the Company's request, of another
              corporation in which the Company holds shares or other rights, directly or indirectly, or in which the Company has an interest (the “Other Company”), as follows:

          

     

    
      
        

    

    	

          	1.1.1	
            A financial liability imposed on you in favor of another person by court ruling, including a ruling issued as a compromise or arbitration ruling certified by the court, subject to the said financial liability being connected, directly or
              indirectly, to one or more of the categories of events, or any of them or anything related to them, that are stipulated in the addendum to this letter of indemnification, which is an integral part thereof, (the “Addendum”), provided that the maximum amount of indemnification does not exceed the amount stated in Section 1.2 below, which was set by the Company's Board of Directors, since it is reasonable under the circumstances;

          

     

    	

          	1.1.2	
            Reasonable legal expenses, including attorneys’ fees, incurred in respect of an investigation or proceedings conducted against you by an authority duly authorized to conduct an investigation or proceeding, and which terminated without an
              indictment being served against you and without a financial sanction having been imposed upon you in place of criminal proceeding, or that terminated without an indictment being served against you but with a financial sanction in place of
              criminal proceedings for an offense that does not require proof of criminal intent, or in connection with a financial sanction.

             

            

            
              In this paragraph - “Termination of proceedings without an indictment in the case for which a criminal investigation had been opened” and “a financial sanction in place of
                  criminal proceedings” are used in accordance with their respective meanings in Section 260(A)(1a) of the Companies Law as amended from time to time. 

                

            

          

     

    	

          	1.1.3	
            Reasonable legal expenses, including attorneys’ fees, incurred or charged by a court, in proceedings filed against you by the Company or by the Other Company, or in its name or by another person, or in a criminal indictment of which you
              are acquitted, or in a criminal indictment in which you are convicted of an offense that does not require proof of criminal intent.

          

     

    	

          	1.1.4	
            Expenses, including reasonable legal expenses, including attorneys’ fees, expended in respect of proceedings in your case in accordance with Chapter H3, H4, I1 of the Securities Law, 1968 (the “Securities
                Law”) and proceedings under Section 4 of Chapter Four of the Ninth Part of the Company’s Law, 1999 (the “Companies Law”) and any similar administrative proceeding that can be indemnified
              according to law (“Administrative Proceeding”).

          

     

    
      
        

    

    	

          	1.1.5	
            Payment to a victim of breach as stated in Section 52(54)(A)(1)(A) of the Securities Law.

          

     

    	

          	1.1.6	
            Liability or other expense permitted in law, including on account of an amendment and/or extension and/or modification of any of the sections detailed above in accordance with the provisions of the law.

          

     

    In this section, “another person” - includes the case of a claim filed against an office holder by way of a derivative claim.

     

    	

          	1.2	
            The amount of indemnification in respect of Section 1.1.1 above, together with the amounts of indemnification for the cause of action that is the subject of Section 1.1.1 above according to the other letters of indemnification granted or
              that will be granted in this matter to office holders of the Company and employees of the Company serving, or who will serve, at the Company’s request as office holders in Other Companies (“Letter of Indemnification Holders”) (in addition to
              amounts received from the insurance company, if they are received, in the framework of insurance purchased by the Company) for each office holder of the Company, cumulatively, for one or more of the types of events detailed in the Addendum,
              will not exceed the cumulative amount  equal to 25% of the Company’s  shareholders’ equity according to the financial statements known before the actual payment of indemnification (the “Maximum Indemnification
                Amount”).

          

     

    It is hereby stipulated that payment of the said indemnification amount will not derogate from any right to receipt of insurance proceeds for the types of events
      detailed in the Addendum, insured by an insurance company, that the Company will receive on your behalf from time to time, if received, in the framework of any directors’ and officers’ liability insurance policy of the Company.

     

    For the avoidance of doubt it is stipulated that the Maximum Indemnification Amount under this letter will apply beyond the amount paid (if and to the extent
      paid) as part of the insurance and/or indemnification of each individual and other body that are not the Company. However, the Company’s undertaking to indemnify will not apply to an event for which the insurer acknowledges responsibility under the
      insurance policy and pays the office holder the required amount, such that you would be paid double compensation for the liability or expense that is indemnifiable as stated above and in the event that you receive indemnification from the Company's
      insurer under the directors’ and officers’ liability policy, or under any other indemnification agreement, for the matter that is the subject of indemnification, indemnification will be provided at the level of the difference between the amount of
      the financial liability imposed on you and expenses, and the amount received under the insurance policy or other indemnification agreement for the same case, on condition that the amount of indemnity that the Company committed to does not exceed the
      Maximum Indemnification Amount.

     

    
      
        

    

    	

          	1.3	
            If and to the extent the total amount of the indemnity that at any time the Company is required to pay for a cause that is the subject of Section 1.1.1, in addition to the total amount of all the indemnity amounts the Company has paid up
              to that date under letters of indemnification for the cause that is the subject of Section 1.1.1 above, will exceed the Maximum Indemnification Amount or the balance of the Maximum Indemnification Amount, as applicable, such amount will be
              divided between the office holders who were entitled to indemnification, such that the indemnification amount that each said office holder will receive will be calculated based on the pro-rata ratio between the indemnification amount to which
              an office holder is entitled and the indemnification amount that each said office holder will be entitled to cumulatively at that date, for these demands. For clarification, to the extent there is a difference between the Maximum
              Indemnification Amount set for each holder of a letter of undertaking for indemnification by the Company, on account of their holding letters of undertaking for indemnification having different wording, each of the office holders entitled to
              indemnification will be entitled to indemnification in accordance and subject to the Maximum Indemnification Amount stipulated in the letter of indemnification granted him, and it will not be deemed as is stated in Section 1.2 above, and in
              this Section 1.3, to be adding to the terms of the other letters of indemnification that the Company granted directors and officers in the past.

          

     

    If the Company has paid indemnity amounts to an office holder of the Company at the level of the Maximum Indemnification Amount, the Company will not bear
      additional indemnity amounts unless payment of additional indemnity amounts will be approved by the Company’s organs that are authorized to approve this increase according to law, at the date of payment of the additional indemnity amounts and subject
      to changing the Company’s Articles of Association, if so required, according to law.

     

    
      
        

    

    	

          	1.4	
            Interim payments

          

     

    If an event occurs for which you are likely to be entitled to indemnification in accordance with the above, the Company will make available to you, from time to
      time, the required monies to cover the expenses and other various payments involved in these legal proceedings and/or Administrative Proceedings, including investigations, mediation and arbitration , such that you will not be required to pay or
      finance them yourself, all subject to the terms and provisions of this letter of indemnification.

     

    In the event that the Company pays you, or in place of you, any amounts in the framework of this letter of indemnification in respect of the legal proceedings and/or
      Administrative Proceedings against you as aforesaid, and thereafter it becomes evident that you are not entitled to indemnification from the Company for those amounts, or if amounts for these expenses are received from the insurance company, then the
      provisions of Section 1.8 below will apply.

     

    	

          	1.5.	
            Terms of Indemnification

          

     

    Without derogating from the aforesaid, the undertaking to indemnify under this letter is subject to the provisions of this section:

     

    	

          	1.5.1	
            Notice of Indemnification: You will inform the Company of any legal proceedings, including mediation or an investigation by an authority authorized to  conduct an investigation or proceeding
              that is opened against you, in connection with any event for which indemnification is likely to apply (the “Proceeding”), and of any threat or warning of which you will be informed in writing that a
              proceeding will be opened against you, promptly after having been first made aware of the matter, and you will transfer to the Company, or to whom it will inform you, any document that will be sent to you in connection with this proceeding.

          

     

    
      
        

    

    	

          	1.5.2	
            Handling the defense:

          

     

    	

          	a.	
            The Company will be entitled to take upon itself, by notice that will be sent to you,  the handling of your defense against these Proceedings or to give over the said handling to any attorney that the Company will appoint for this purpose
              (except for an attorney who will be unacceptable to you for reasonable reasons including conflict of interests, and in such a case the attorney for the case will be determined by the office holder subject to the Company's agreement, which is
              obliged to be provided in writing in advance to identify the attorney and the terms of his fees). The Company and/or the attorney will be entitled to act exclusively as part of the aforementioned handling, and will be entitled to bring the
              Proceedings to a close, as they shall deem correct, and will send you ongoing reports on progress of the Proceedings and will be in contact with you concerning its handling; the attorney appointed will act and will have a duty of trust to the
              Company and to you. Where a conflict of interests will be created between you and the Company in your defense in those Proceedings, the attorney will inform you of such and you will be entitled to take your own attorney within the constraints
              enumerated in sub-section 1.5.2 below, and the provisions of this letter of indemnification will apply to the expenses you will incur for the said appointment.

          

     

    	

          	b.	
            The Company will not be entitled to terminate the said Proceedings by way of a compromise and/or settlement (within the meaning of the term in Section 54A of the Securities Law, as amended from time to time) (the “Settlement”), in  a manner in   which, as a result, you will be required to pay amounts that will not be indemnified under this letter of indemnification and that will also not be paid as part of the directors’ and officers’
              liability insurance policy purchased and/or that will be purchased by the Company, except with your prior, written agreement to the compromise and/or Settlement that will be reached. Similarly, the Company will not be entitled to bring the
              dispute that is the subject of the above Proceedings to a decision by way of mediation or arbitration except with your prior, written agreement, on condition that you do not refuse to grant your agreement except on reasonable grounds that
              will be informed to the Company in writing. For the avoidance of doubt it is hereby stipulated that even if the dispute in the Proceedings will be transferred to mediation or arbitration or a Settlement or in any other way, the Company will
              be responsible for the related expenses as part of the expenses of this letter of indemnification and subject to the provisions of the law.

          

     

    
      
        

    

    	

          	c.	
            Notwithstanding the foregoing, the Company will not be entitled to terminate the above Proceedings by way of a compromise and/or Settlement and/or to bring the dispute that is the subject of the above Proceedings to a decision through
              mediation or conciliation or arbitration in the event of criminal indictments against you, unless you provide your prior, written agreement. You can refuse to give your agreement stated in this sub-section at your sole discretion without
              being required to provide reasons for your non-agreement.

          

     

    	

          	d.	
            At the Company's request you will sign any document that will authorize any said attorney to handle your defense in your name in those Proceedings and to represent you in all related matters, in accordance with the foregoing. After the
              Company will have informed you that it intends to manage the defense on its own, as stated, the Company will not be liable to you under this letter of indemnification for any legal expenses, including attorneys’ fees expended by you for the
              defense thereafter.

          

     

    	

          	e.	
            If the Company will not inform you within 14 days from the date of receipt of the indemnification notice as stated above that it will assume responsibility for your defense in the said Proceedings, or if you object to being represented by
              the Company’s attorneys on reasonable grounds or out of concern for a conflict of interests, you will be entitled to appoint your own attorney (the “Other Attorney”), subject to the fees to be paid to the Other Attorney requiring prior
              authorization by the Company. If the Company does not approve the entire amount of fees requested, and the office holder decides not to dispense with the services of the Other Attorney, the office holder will be entitled, if he so wishes, to
              receive from the Company the amount of fees approved, and the balance can be paid by the office holder on his own..

          

     

    	

          	f.	
            It should be noted that if the Company and/or the office holder will likely be entitled to indemnification as part of the officers’ insurance, in respect of the Proceedings, and an attorney will be appointed as stated above, taking into
              account the insurer’s right to determine the identity of the attorney who will represent the office holder in the Proceedings, and the obligations of the Company in this matter under the above insurance, especially if according to the terms
              of the insurance the insurer is entitled to determine the identity of the attorney who will represent the lawyer in the Proceedings, such that otherwise the insurer will have to be released from its obligation to indemnification or to reduce
              it. In any event, the Company will make its best efforts, as part of the terms of the insurance and subject to them, to influence the choice of attorney in accordance with the office holder’s wishes.

          

     

    
      
        

    

    	

          	1.5.3	
            Cooperation with the Company:

          

     

    You will cooperate with the Company and/or with the attorney stated above and will fulfill all the instructions of the insurers under the directors’ and
      officers’ liability insurance that the Company contracted for in connection with defense in the Proceedings; in any reasonable manner that will be required of you by one of them as part of their handling of the Proceedings, on condition that the
      Company will ensure cover for all your expenses involved in this such that you will not be required to pay them or finance them yourself, subject to what is stated in this letter of indemnification.

     

    	

          	1.5.4	
            Coverage of Liabilities:

          

     

    Whether the Company acts according to what is stated in Section 1.5.2 above or not, it will ensure cover for all the said expenses and liabilities, insofar as
      it is obliged to indemnify you in respect of them, such that you will not be required to pay for or finance them yourself, in accordance with the terms of this letter of indemnification. It is hereby stipulated that nothing in the foregoing will
      derogate from the Company’s right in the first instance to direct the case to the insurance company for coverage.

     

    	

          	1.5.5	
            Non-application of indemnification in cases of compromise, arbitration, admission and Settlement:

          

     

    Your indemnification in respect of any Proceedings against you, as stated in this letter, will not apply to any amount that comes from you following compromise
      or arbitration or a Settlement, unless the Company agrees in writing to that compromise or to fulfill this arbitration or to enter into this Settlement, as applicable. The Company will not refuse this compromise or arbitration or to enter into this
      Settlement, as applicable, on grounds that are unreasonable.

     

    
      
        

    

    Similarly, the indemnification will not apply in the event of your admission to a criminal indictment for an offense that does not require proof of criminal intent unless
      your admission received the prior, written agreement of the Company.

     

    Without derogating from the provisions of Section 1.5.3 above, the Company will be entitled, in its discretion, but not obliged, to indemnify the office
      holder under this letter of indemnification for amounts paid in settling any other demand, claim or proceedings that was arrived at without the Company’s written agreement.

     

    	

          	1.5.6	
            Non-applicability of indemnification in cases of indemnification or insurance from a third party:

          

     

    The Company will not be required to pay under this letter of indemnification monies actually paid to you, or on your behalf or instead of you, in any manner
      as part of insurance (that the Company purchased) or any undertaking of indemnification of anyone else apart from the Company. The provisions of this section will not apply to the deductible that applies under the terms of the Company’s directors’
      and officers’ liability insurance policy. In respect of the Company’s obligation for indemnification for an action you took or will take in your capacity as an office holder and/or employee of an Other Company, the following provisions shall apply:

     

    If your demand to receive indemnification and/or insurance cover for an action you took in the capacity of your position in the Other Company and it is likely to be
      indemnifiable under this letter of indemnification, will be rejected by the Other Company or the insurance company of the Other Company, as applicable, the Company will pay you under this letter of indemnification the amounts to which you will be
      entitled under this letter of indemnification, if you are entitled to these amounts and you assign to the Company your rights to receive amounts from the Other Company and/or under the insurance policy of the Other Company and you will authorize the
      Company to collect these amounts in your name if such authorization will be required to fulfill the provisions of this section. In this regard you undertake to sign any document that will be required by the Company to assign your said rights and the
      Company’s agreement to collect the said amounts in your name.

     

    
      
        

    

    For the avoidance of doubt it is stipulated that nothing in this letter of indemnification will grant another company and/or any other third party any
      rights against the Company, including, without derogating from the generality of the foregoing, the right to claim and/or demand any payment from the Company as participation in the indemnification and/or insurance coverage given to you by the Other
      Company for an action you carried out by virtue of your position in the Other Company.

     

    	

          	1.5.7	
            If you request to make any payment in respect of any event under this letter, the Company will take all the actions required by law to pay it, and will act to arrange every approval required in this regard, if required, including
              authorization of the court, if required.

          

     

    	

          	1.6.	
            Period of indemnification:

          

     

    The Company's undertakings under this letter will be available to you and/or your estate without any time limit including after the termination of your
      employment and/or tenure as an office holder in the Company and/or in the Other Company, as applicable, on condition that the actions for which the undertaking for indemnification was given were or will be done in the period of your employment and/or
      tenure as an office holder in the Company and/or in the Other Company.

     

    	

          	1.7	
            Exceptions

          

     

    The undertaking of indemnification as stated in this letter of indemnification will not apply in any of the following cases:

     

    	

          	a.	
            Breach of the duty of trust towards the Company or to the Other Company, unless the office holder acted in good faith and had had a reasonable basis to assume that the action would not harm the interests of the Company or the Other
              Company.

          

     

    	

          	b.	
            Breach of the duty of care carried out deliberately or in undue haste, except if carried out solely in negligence.

          

     

    	

          	c.	
            Action with the intention to obtain personal, unlawful profit.

          

     

    	

          	d.	
            A penalty, civil fine, financial sanction or indemnity, if imposed on the office holder, except expenses for the said sanction, as detailed in Section 1.1 above.

          

     

    
      
        

    

    	

          	e.	
            Proceedings undertaken in the case of the office holder. “Proceedings” for the purposes of this section in accordance with Chapter H3, H4, I1 of the Securities Law and proceedings under Section 4 of Chapter Four of the Ninth Part of the
              Company’s Law, except expenses for these Proceedings, as detailed in Section 1.1 above.

          

     

    	

          	1.8	
            Refund of amounts:

          

     

    In the event that the Company will pay you, or a party in your stead, any amounts under this letter in connection with the said Proceeding, and afterwards it transpires that you
      are not entitled to indemnification from the Company for these amounts, these amounts will be deemed a loan granted you by the Company, which will bear a minimal rate of interest as shall be determined from time to time according to the law in order
      that the recipient of the loan will not have a taxable benefit with the addition if indexing differences, and you will have to return these amounts to the Company when it will so require you to do so, in the order of payments that the Company will
      determine. in writing, in the order of payments that the Company will require.

     

    	

          	1.8	
            In this letter of indemnification-

          

     

    	
            “office holder” -

          	
            Aaccording to its meaning in the Companies Law, 1999 (the “Companies Law”), including an office holder who serves or is employed on behalf of the
              Company in another company, including the controller, legal counsel and corporate secretary.

             

            

          
	
            “Action”

            or any other derivative of it -

          	
            Including the decision and/or omission (or any derivative thereof) in respect of and including your actions prior to the date of the letter of indemnification in the period of your tenure as
              an office holder of the Company.

          

     

    

    Everything stated in the masculine gender is also intended to include the feminine.

     

    

    
      	

            	1.9	
              The Company’s undertakings under this letter of indemnification will be broadly interpreted in order to fulfill them, as is permitted by law, for the purposes for which it was intended. In the event of a contradiction between any
                provision of this letter of indemnification and a provision of the law that is not conditional, cannot be changed or added to, the said provision of the law will take precedence, but this will not impair or derogate from the validity of the
                rest of the provisions of this letter of indemnification.

            

       

      
        
          

      

    

    	

          	1.10	
            It is emphasized that this undertaking to indemnify is not a contract in favor of any third party including any insurer and is not subject to assignment, and no insurer will be entitled to demand the participation of the Company in a
              payment for which the insurer is liable under the insurance agreement drawn up with it, excepting the deductible specified in the aforesaid agreement.

          

     

    	

          	1.11	
            Nothing in this letter of indemnification will limit the Company or prevent it from increasing the Maximum Indemnification Amount for indemnifiable events, whether because the insurance amounts under the directors’ and officers’ liability
              insurance policy will be reduced, whether because the Company cannot obtain directors’ and officers’ insurance that will cover the indemnifiable events on reasonable terms, or whether for any other reason, on condition that the said decision
              will be taken in the manner stipulated in the Companies Law. Similarly, nothing herein will limit the Company from granting indemnification or an undertaking to indemnify its employees who do not serve as office holders (as defined above) in
              the Company or in the Other Company.

          

     

    	

          	1.12	
            The Company will be entitled in its sole discretion and at any time to cancel its undertakings of indemnification under this letter of indemnification, or to reduce the Maximum Indemnification Amount in it, or to reduce the types of events
              to which it applies, whether in respect of every office holder or some of them, if it refers to events that occur after the date of the change, subject to the office holder having being given prior, written notice of its intention, at least
              30 days prior to the date its decision will become effective. For the avoidance of doubt it is hereby stipulated that every such decision that will worsen the terms of this letter of indemnification or cancel it, will not apply retroactively 
              in any way and the letter of indemnification and Exemption prior to the change or its cancellation, as applicable, will continue to apply and to be valid in all matters related to any event that occurred prior to the change or cancellation,
              even if the proceedings in question were filed against the office holder after the change or cancellation of the letter of indemnification and Exemption, subject to the law. For the sake of clarification,  an amendment or change to the letter
              of indemnification, as stated, will not be considered worsening of terms of employment where there exists employee - employer relationship between the office holder and the Company, without this determination constituting a statement or
              interpretation in respect of the existence of the said employee - employer relations.

          

     

    
      
        

    

    	

          	1.13	
            No waiver, delay, refraining from action or providing an extension by the Company or by you will under any circumstances be interpreted as a waiver of its rights under this letter of indemnification and in law, and will not prevent the
              Company or you from taking any legal or other steps required to exercise its said rights.

          

     

    	

          	1.14	
            This letter of indemnification is subject to the provisions of the Companies Law.

          

     

    	

          	1.15	
            This letter of indemnification does not derogate from the Company’s right to decide upon indemnification retroactively, in accordance with the provisions of the law.

          

     

    	

          	1.16	
            The Addendum to this letter of indemnification is an integral part thereof.

          

     

    	

          	1.17	
            This letter of indemnification will become effective with your signature on the copy hereof in the place indicated, and with provision of the signed copy to the Company. It is hereby agreed that if you received a previous undertaking from
              the Company for indemnification, your agreement to receive this letter of indemnification represents your irrevocable agreement to cancel the previous undertaking. With respect to this matter it is clarified that with your signature on this
              letter of indemnification, any statement/s of undertaking of indemnification provided to you prior to provision of this letter of indemnification will be cancelled and in its/their place this letter of indemnification will come into effect.
              It is emphasized that this letter of indemnification is the full letter of indemnification between the Company and you with respect to the matters and issues discussed herein, and it replaces and cancels any representation, memorandum,
              proposals, meeting summaries, letters of intent and/or of undertaking and/or any other document that existed or were exchanged between the parties, whether in writing or orally, on the matters and issues stated between the Company and you,
              prior to your signature of this letter of indemnification.

          

     

    	

          	1.18	
            The law that applies to this letter of indemnification is Israeli law and the competent court in Tel-Aviv has exclusive jurisdiction to rule on disputes that arise from implementation of this letter of indemnification.

          

     

    	

          	1.19	
            The terms in this letter of indemnification will be interpreted in accordance with the Company’s Articles of Association, the Companies Law and the Securities Law, as applicable. The Addendum to this letter of indemnification is an
              integral part thereof.

          

     

    And in witness thereof the Company has signed, through its authorized signatories, who have been lawfully authorized.

     
      	
               

            	
              _________________________________

              _________________ Ltd.

            	
               

            

    

    

    I acknowledge receipt of this letter and confirm my agreement to its terms.

     

    

    
      
        	
                 

              	
                
                  ____________________

                  

                  

                   

                  Date: _____________

                

              	
                 

              

      

    

    

    

    
      
        

    

    The Addendum

     

    Subject to the provisions of the law, these are the events:

     

    	

          	1.	
            Transaction or action according to their meaning in Section 1 of the Companies Law whether as part of the Company’s normal course of business or not as part of the Company’s normal course of business and/or of the Company’s subsidiaries
              and/or associated companies, including a transaction with an interested party, negotiations to enter into a transaction, due diligence (including non-occurrence), a transfer, sale, lease, rental, purchase or pledging of assets or undertakings
              (including securities), receipt and grant of credit and provision or receipt of collateral including entering into financing agreements with banks and any action or act of discretion involved directly or indirectly to the said transaction or
              action, whether if the said transactions and/or actions will be completed or not completed for whatsoever reason.

          

     

    	

          	2.	
            Proposal, offering and buy-back of securities by the Company (including the offering of securities that did not come about) or by a subsidiary or associated company (the “Company”) or by the
              Company's shareholders, in Israel and abroad, including, but without derogating from the generality of the foregoing, a public offering of securities under a prospectus or by another way, a private offering, offering of bonus shares or
              offering of securities by any other way.

          

     

    	

          	3.	
            Event arising from the Company being a public company or arising from its shares having been offered to the public or arising from its shares being traded on a stock exchange in Israel or abroad.

          

     

    	

          	4.	
            Claim or demand in connection with matters requiring disclosure in a prospectus, including any draft in which disclosure was not made as required by law.

          

     

    
      
        

    

    	

          	5.	
            Events related to the Company making investments in projects in Israel and abroad including through any companies, before, during and after making the investment, during the contractual relationship, signing, development and monitoring,
              including actions carried out in the Company’s name as a director, officer, employee or an observer of the Board of Directors of the company in which it is carried out.

          

     

    	

          	6.	
            Actions related to the issuance of licenses and permits, including but without derogating from the generality of the foregoing, approvals and/or exemptions related to planning and construction, environmental quality, business licensing,
              consumer protection, protection of privacy and other actions related to the Company's projects in the area of real estate.

          

     

    	

          	7.	
             Transfer, sale or participation in tenders for various projects or the purchase of assets or liabilities, including securities or rights or receipt of a right in each of these, including a purchase offer of any sort or merger of the
              Company with another entity, and another transaction in securities the Company has issued, in all cases, whether or not the Company is a party to the transaction.

          

     

    	

          	8.	
            Action related directly or indirectly to employee - employer relations in the Company and with the Company's trade relations, including with employees, outside contractors, customers, suppliers and service providers, negotiations,
              contracting and carrying out personal and collective labor agreements, benefits for employees, including the allotment of securities to employees and processes related to action or decision in the area of safety at work and/or work
              conditions.

          

     

    	

          	9.	
            Action related to reports or notices submitted by the Company and/or by companies controlled by the Company, according to law, including and without derogating from the generality of the foregoing, the Companies Law, the Securities Law,
              including regulations promulgated from them, or according to rules or guidelines usual on a stock exchange in Israel or abroad or according to the taxation laws and laws governing labor relations that apply to the Company.

          

     

    	

          	10.	
            Transfer of knowledge required or permitted to be transferred under law or to companies that have a interest in the Company.

          

     

    	

          	11.	
            Any action related to the financial statements including adoption of financial statements standards, preparation and signing of the Company’s and its subsidiaries’ financial statements, consolidated and separate, as applicable, and
              approvals and in relation to programs and treatment of the financial statements.

          

     

    	

          	12.	
            Any action and/or decision concerning a distribution, within the  meaning of the Companies Law, including a distribution by court approval, including purchase of the Company’s shares on condition that indemnification for the said action is
              permitted by law as well as any claim or demand related with the distribution of dividends to the Company's shareholders.

          

     

    
      
        

    

    	

          	13.	
            Change of the Company’s structure or its reorganization or any decision related to these, including but without derogating from the generality of the foregoing, a merger, split, change in the Company’s equity, setting up subsidiaries,
              their liquidation or sale, allocation or distribution.

          

     

    	

          	14.	
            Amendments, changes and formulation of settlements between the Company and shareholders, debenture holders, banks and/or the Company’s creditors or of companies held by it, including amendments to deeds of trust and debentures and
              settlement documents in general.

          

     

    	

          	15.	
            Any event and/or any action for which it is possible to indemnify under the Securities Law.

          

     

    	

          	16.	
            Any transaction or action related directly or indirectly to matters concerning anti-trust including cartels, mergers and monopolies.

          

     

    	

          	17.	
            Remarks, utterances including the expression of position or an opinion made in good faith by the office holder during and in the capacity of his position, including in negotiations and contracting with suppliers or customers, including in
              management, Board or Board committee meetings, including by means of communication.

          

     

    	

          	18.	
            Action in contradiction to the Company’s documents of incorporation.

          

     

    	

          	19.	
            Any claim or demand filed by a third party who suffers from a physical malady, personal harm or damage to property, including damage arising from storage including a commercial breach during any action or omission attributed to the
              Company, or in conjunction with its employees, agents or other persons acting or claiming to act on behalf of the Company, whether the harm arises from an event arising from an accident or damage arising from a gradual, cumulative process.

          

     

    	

          	20.	
            Any action or mistake in drawing up insurance arrangements and/or risk management, including any claim or demand related to an alleged act or omission that is claimed to have resulted in not drawing up proper insurance arrangements and any
              matter related to negotiations concerning insurance documents, contracting in insurance documents, terms of insurance policies and activating them.

          

     

    	

          	21.	
            Any event related to environmental quality and/or handling of hazardous materials.

          

     

    	

          	22.	
            Formulation of work programs, including costing, marketing, distribution, instructions or absence of guidelines for employees, customers, suppliers and joint ventures with competitors or with any third parties.

          

     

    
      
        

    

    	

          	23.	
            Actions related to the Consumer Protection Law, 1981, and/or orders and/or regulations derived from it, and any other law of a consumer nature and secondary legislation that will apply as a result and/or and any foreign law in this field.

          

     

    	

          	24.	
            Any administrative, public or judicial action, orders, court ruling, claims, demands, letters of demand, guidelines, claims, investigations, proceedings (including administrative enforcement proceedings) or notices of non-compliance or
              violation of an action of a governmental authority or other body, in Israel or abroad, that claim non-fulfillment of a provision of a law, regulation, order, ordinance, rule, custom, instruction, licensing, guideline, policy and/or ruling by
              the Company and/or its office holders.

          

     

    	

          	25.	
            Provision of information, representations, expert opinions, reports, notice and filing of an application to the state authorities and other authorities, including to any competent authority under law in Israel or abroad, including but
              without derogating from the generality of the foregoing, the Companies Law, 1999,  including its regulations and/or that will be promulgated under its authority, as part of tenders or in accordance with the provisions of the taxation laws
              that apply and/or will apply to the Company and the documentation required by law.

          

     

    	

          	26.	
            Any claim and/or demand with respect to non-disclosure or a failure of disclosure to provide any type of information at the time required in accordance with the law, or a contract, and/or in connection with an incomplete, misleading or
              incorrect disclosure of information, to third parties including to the Company’s securities holders and/or forced holders of securities, including in connection with an offering, allocation, distribution, purchase, possession and/or a right
              to the Company’s securities and/or any other investment actions involved and/or impacted by the Company’s securities and including the case of merging the Company with another company, and to the tax authorities, national insurance, the
              Investment Center, the Ministry for Environmental Protection, local authorities and any governmental, institutional and/or trade union party or other.

          

     

    	

          	27.	
            Actions related to the Company’s intellectual property and its protection, including registration and/or enforcement of intellectual property rights and protection in related claims, a breach carried out or alleged to have been carried
              out, or misuse of intellectual property rights of a third party, including but not limited to patents, replicas, trademarks, copyrights and those of a similar nature.

          

     

    	

          	28.	
            Management of the Company’s investments portfolio and management of bank accounts where the Company operates and takes actions, or their derivatives, including in everything related to foreign currency (including foreign currency
              deposits), securities (including reverse sales transaction in securities and borrowing and lending securities), loans and credit facilities, charge cards, bank guarantees, letters of credit, consulting agreements in investments, including
              with portfolio managers, hedging transactions, options, futures contracts, derivatives swap transactions etc.

          

     

    
      
        

    

    	

          	29.	
            Events and actions related to investments the Company makes in various companies, before or after making an investment, including the need to contract in a transaction, its implementation, development, monitoring and supervision.

          

     

    	

          	30.	
            Proceedings connected to decisions and/or actions related to the Privacy Protection Law, 1981 and/or orders and/or regulations arising therefrom.

          

     

    	

          	31.	
            Violation of the provisions of any agreement to which the Company is a party, whether if actually carried out or if alleged to have been carried out.

          

     

    	

          	32.	
            Action related to the Company’s tax liability and/or of a subsidiary and/or of one of their shareholders.

          

     

    	

          	33.	
            Any claim and/or demand filed directly or indirectly in connection with a failure, in whole or in part, by the Company and/or by office holders, managers and/or employees of the Company, in everything related to payment, reporting and/or
              documentation, to of one of the state’s authorities, a foreign authority, a municipal authority and/or any other payment required under a law of the State of Israel, including payments of income tax, sales tax, betterment tax, transfer taxes,
              excise, added value tax, stamp tax, customs duty, national insurance, salaries and/or delaying salary to employees and/or other delays, including any sort of interest and increment for linkage.

          

     

    	

          	34.	
            Any action related to a vote in a subsidiary, and in a held companies and in companies in which the Company has any holdings whatsoever.

          

     

    	

          	35.	
            Any claim or demand filed by a lender, creditor or someone who claims to be a lender or creditor, in respect of monies loaned by them and/or debts of the Company to them.

          

     

    	

          	36.	
            Any action related directly or indirectly to legal, accounting or economic matters, including providing advice, expert opinions, checks, due diligence, audits, internal reports and audits, in respect of the Company and any companies,
              whether in writing or verbally, including the preparation of expert opinions, reports or documents submitted to any competent bodies of the Company including the company’s Board of Directors and its committees or to the Company’s Management.

          

     

    	

          	37.	
            Actions related to the Company making investments in any companies, in Israel and abroad, including through any companies, before, during and after making the investment, including during the contractual relationship, signing, management
              and monitoring, including actions carried out in the Company’s name as a director, officer, employee or an observer of the Board of Directors of the company in which it is carried out.

          

     

    
      
        

    

    	

          	38.	
            Any event or action that is indemnifiable, directly or indirectly, in accordance with the Streamlining of Enforcement at the Securities Authority (Legislative Amendments) Law, 2011.

          

     

    Each of the events detailed above will apply with respect to the tenure of the office holder on behalf of the Company as an office holder in subsidiary and/or associated
      companies, and with respect to every country in the world.

     

    Every provision in above Addendum concerned with the performance of a given action, will be interpreted as also referring to non-performance or refraining from performance of that
      action, unless the context of a given provision necessitates otherwise.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}]]