Document:

Exhibit 10.1

 

AMENDED AND RESTATED

 

STOCK PURCHASE AGREEMENT

 

between

 

ABILITY INC.

 

and

 

[***]

 

and

 

TELCOSTAR PTE. LTD.

 

dated as of

 

January 15, 2019

 

    [***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

TABLE OF CONTENTS

 

	Article I Definitions	1
	 	 
	Article II Purchase and sale	5
	 	 	 
	Section 2.01	Purchase and Sale.	5
	 	 	 
	Section 2.02	Consideration.	5
	 	 	 
	Section 2.03	Transactions to be Effected at the Closing	5
	 	 	 
	Section 2.04	Closing.	6
	 	 	 
	Section 2.05	Reseller Agreement and Related Payments.	6
	 	 	 
	Article III Representations and warranties of seller	7
	 	 	 
	Section 3.01	Organization and Authority of Seller.	7
	 	 	 
	Section 3.02	Organization, Authority and Qualification of the Company.	7
	 	 	 
	Section 3.03	Capitalization.	8
	 	 	 
	Section 3.04	No Subsidiaries.	8
	 	 	 
	Section 3.05	No Conflicts; Consents.	8
	 	 	 
	Section 3.06	Financial Statements.	9
	 	 	 
	Section 3.07	Undisclosed Liabilities.	9
	 	 	 
	Section 3.08	Absence of Certain Changes, Events and Conditions.	9
	 	 	 
	Section 3.09	Material Contracts.	10
	 	 	 
	Section 3.10	Intellectual Property.	10
	 	 	 
	Section 3.11	Legal Proceedings; Governmental Orders.	11
	 	 	 
	Section 3.12	Compliance With Laws; Permits.	12
	 	 	 
	Section 3.13	Employment Matters.	12
	 	 	 
	Section 3.14	Taxes.	12
	 	 	 
	Section 3.15	Brokers.	13
	 	 	 
	Section 3.16	Full Disclosure.	13
	 	 	 
	Section 3.17	Investment Purpose.	13
	 	 	 
	Section 3.18	Seller Status	13
	 	 	 
	Section 3.19	Reliance on Exemptions	14
	 	 	 
	Section 3.20	Experience of the Seller	14
	 	 	 
	Section 3.21	General Solicitation	14
	 	 	 
	Section 3.22	Access to Information	14

  

    i
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

	Section 3.23	Transfer or re-sale	14
	 	 	 
	Section 3.24	Legends	15
	 	 	 
	Article IV Representations and warranties of buyer	15
	 	 	 
	Section 4.01	Organization and Authority of Buyer.	15
	 	 	 
	Section 4.02	No Conflicts; Consents.	16
	 	 	 
	Section 4.03	Brokers.	16
	 	 	 
	Section 4.04	Legal Proceedings.	16
	 	 	 
	Article V Covenants	16
	 	 	 
	Section 5.01	Conduct of Business Prior to the Closing.	16
	 	 	 
	Section 5.02	Access to Information.	17
	 	 	 
	Section 5.03	Resignations.	17
	 	 	 
	Section 5.04	Confidentiality.	17
	 	 	 
	Section 5.05	Governmental Approvals and Other Third-party Consents.	17
	 	 	 
	Section 5.06	Books and Records.	18
	 	 	 
	Section 5.07	Closing Conditions.	19
	 	 	 
	Section 5.08	Public Announcements.	19
	 	 	 
	Section 5.09	Further Assurances.	19
	 	 	 
	Section 5.10	Transfer Taxes.	19
	 	 	 
	Section 5.11	Non-Competition; Non-Solicitation.	19
	 	 	 
	Article VI Conditions to closing	20
	 	 	 
	Section 6.01	Conditions to Obligations of All Parties.	20
	 	 	 
	Section 6.02	Conditions to Obligations of Buyer.	21
	 	 	 
	Section 6.03	Conditions to Obligations of Seller.	22
	 	 	 
	Article VII Indemnification	23
	 	 	 
	Section 7.01	Survival.	23
	 	 	 
	Section 7.02	Indemnification By Seller.	23
	 	 	 
	Section 7.03	Indemnification By Buyer.	23
	 	 	 
	Section 7.04	Certain Limitations.	24
	 	 	 
	Section 7.05	Indemnification Procedures.	25
	 	 	 
	Section 7.06	Tax Treatment of Indemnification Payments.	27
	 	 	 
	Section 7.07	Exclusive Remedies.	27
	 	 	 
	Section 7.08	Unjust Termination by Seller.	28

 

    ii
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

	Article VIII Termination	28
	 	 	 
	Section 8.01	Termination.	28
	 	 	 
	Section 8.02	Effect of Termination.	28
	 	 	 
	Article IX Miscellaneous	28
	 	 	 
	Section 9.01	Expenses.	29
	 	 	 
	Section 9.02	Notices.	30
	 	 	 
	Section 9.03	Interpretation.	31
	 	 	 
	Section 9.04	Headings.	31
	 	 	 
	Section 9.05	Severability.	31
	 	 	 
	Section 9.06	Entire Agreement.	31
	 	 	 
	Section 9.07	Successors and Assigns.	31
	 	 	 
	Section 9.08	No Third-party Beneficiaries.	31
	 	 	 
	Section 9.09	Amendment and Modification; Waiver.	32
	 	 	 
	Section 9.10	Governing Law; Submission to Jurisdiction; Waiver of Jury Trial	32
	 	 	 
	Section 9.11	Specific Performance.	33
	 	 	 
	Section 9.12	Counterparts.	33

 

    iii
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

AMENDED AND RESTATED STOCK PURCHASE
AGREEMENT

 

This Amended and Restated
Stock Purchase Agreement (this “Agreement”), dated as of January 15, 2019, is entered into between [***] (“Seller”),
Ability Inc., a company incorporated under the laws of the Cayman Islands (“Buyer”) and, with respect to Section
2.05 to this Agreement, TELCOSTAR PTE. LTD., a company organized and existing under the laws of Singapore (the “Company”).

 

Recitals

 

WHEREAS,
[***] owns all of the issued and outstanding ordinary shares, par
value 1.00 SGD (the “Shares”), of the Company;

 

WHEREAS, [***] and
the Seller are parties to that certain Declaration of Trust, dated as of June 29, 2016 (the “Declaration of Trust”),
pursuant to which [***] holds the Shares in trust and as nominee for the Seller, and agrees to deal with or act in relation to
the Shares only in accordance with the direction of the Seller; and

 

WHEREAS, Seller wishes
to cause its nominee [***] to sell to Buyer, and Buyer wishes to purchase from [***] at the direction of Seller, the Shares, subject
to the terms and conditions set forth herein;

 

WHEREAS, the Buyer,
the Seller and the Company entered into that certain Stock Purchase Agreement dated November 20, 2018 (the “Original
SPA”);

 

WHEREAS, the Buyer
and the Seller entered into that certain Amendment No. 1 to this Agreement, dated December 21, 2018, to extend the Drop Dead Date
(as defined herein) to January 15, 2019;

 

WHEREAS, the Buyer,
the Seller and the Company wish to amend and restate the Original SPA in full;

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

Article
I

Definitions

 

The following terms
have the meanings specified or referred to in this ‎Article I:

 

“Accredited
Investor” has the meaning set forth in Section 3.18.

 

“Ability”
has the meaning set forth in Section 2.05.

 

    [***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

“Affiliate”
of a Person means any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by,
or is under common control with, such Person. The term “control” (including the terms “controlled by”
and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

 

“Agreement”
has the meaning set forth in the preamble.

 

“Balance
Sheet” has the meaning set forth in ‎Section 3.06.

 

“Balance
Sheet Date” has the meaning set forth in ‎Section 3.06.

 

“Basket”
has the meaning set forth in ‎Section 7.04(a).

 

“Business
Day” means any day except Friday, Saturday, Sunday or any other day on which commercial banks located in Israel or [***]
are authorized or required by Law to be closed for business.

 

“Buyer”
has the meaning set forth in the preamble.

 

“Buyer Indemnitees”
has the meaning set forth in ‎Section 7.02.

 

“Cap”
has the meaning set forth in ‎Section 7.04(a).

 

“Closing”
has the meaning set forth in ‎Section 2.04.

 

“Closing
Date” has the meaning set forth in ‎Section 2.04.

 

“Code”
means the Internal Revenue Code of 1986, as amended.

 

“Confidential
Information” means all confidential and/or proprietary information, disclosed by one party to the other both prior to
and following the Closing Date of this Agreement, and whether oral, electronic, visual or written form, including, without limitation,
processes, services, products, plans, intentions, pricing, inventions, intellectual property rights, trade secrets, know-how,
methods, techniques, computer software, source and object codes, algorithms, engineering concepts, product specifications, models
descriptions, drawings, samples, demonstrations, manufacturing processes, research and development efforts, development tools,
marketing information, sales, suppliers, customers, and financial data.

 

“Company”
has the meaning set forth in the recitals.

 

“Company
Intellectual Property” has the meaning set forth in ‎Section 3.10(b).

 

“Company
IT Systems” has the meaning set forth in Section 3.10(d).

 

“Declaration
of Trust” has the meaning set forth in the recitals.

 

“Direct Claim”
has the meaning set forth in ‎Section 7.05(c).

 

    2
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

“Dollars
or $” means the lawful currency of the United States.

 

“Drop Dead
Date” has the meaning set forth in Section 9.01(b)(i).

 

“Employees”
means those Persons employed by the Company immediately prior to the Closing.

 

“Encumbrance”
means any lien, pledge, mortgage, deed of trust, security interest, charge, claim, easement, encroachment or other similar encumbrance.

 

“Financial
Statements” has the meaning set forth in ‎Section 3.06.

 

“GAAP”
means United States generally accepted accounting principles in effect from time to time.

 

“Governmental
Authority” means any federal, state, local or foreign government or political subdivision thereof, or any agency or
instrumentality of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory
authority or quasi-governmental authority (to the extent that the rules, regulations or orders of such organization or authority
have the force of Law), or any arbitrator, court or tribunal of competent jurisdiction.

 

“Governmental
Order” means any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any
Governmental Authority.

 

“Indemnified
Party” has the meaning set forth in Section 7.05.

 

“Indemnifying
Party” has the meaning set forth in Section 7.05.

 

“Intellectual
Property” has the meaning set forth in ‎Section 3.10(a).

 

“Law”
means any statute, law, ordinance, regulation, rule, code, order, constitution, treaty, common law, judgment, decree, other requirement
or rule of law of any Governmental Authority.

 

“Losses”
means actual out-of-pocket losses, damages, liabilities, costs or expenses, including reasonable attorneys’ fees.

 

“Material
Adverse Effect” means any event, occurrence, fact, condition or change that is materially adverse to (a) the business,
results of operations, financial condition or assets of the Company, or (b) the ability of Seller to consummate the transactions
contemplated hereby.

 

“Material
Contracts” has the meaning set forth in ‎Section 3.09(a).

 

“[***]”
has the meaning set forth in the preamble.

 

“Original
SPA” has the meaning set forth in the preamble.

 

    3
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

“Permits”
means all permits, licenses, franchises, approvals, authorizations, and consents required to be obtained from Governmental Authorities.

 

“Person”
means an individual, corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated
organization, trust, association or other entity.

 

“Reseller
Agreement” has the meaning set forth in Section 2.05.

 

“Restricted
Business” means the ULIN business that allows voice and SMS interception. 

 

“Restricted
Period” has the meaning set forth in ‎Section 5.11(a).

 

“Representative”
means, with respect to any Person, any and all directors, officers, employees, consultants, financial advisors, counsel, accountants
and other agents of such Person.

 

“SEC”
has the meaning set forth in Section 3.22.

 

“Securities”
has the meaning set forth in Section 3.17.

 

“Securities
Act” has the meaning set forth in Section 3.17.

 

“Seller”
has the meaning set forth in the preamble.

 

“Seller Indemnitees”
has the meaning set forth in ‎Section 7.03.

 

“Services
Agreement” means the Services Agreement between [***] and
the Company, substantially in the form attached hereto as Exhibit A, and as may further be amended until the Closing Date
based on due diligence.

 

“Share Consideration”
has the meaning set forth in Section 2.02(a).

 

“Shares”
has the meaning set forth in the recitals.

 

“Taxes”
means all federal, state, local, foreign and other income, gross receipts, sales, use, production, ad valorem, transfer, franchise,
registration, profits, license, lease, service, service use, withholding, payroll, employment, unemployment, estimated, excise,
severance, environmental, stamp, occupation, premium, property (real or personal), real property gains, windfall profits, customs,
duties or other taxes, fees, assessments or charges of any kind whatsoever, together with any interest, additions or penalties
with respect thereto and any interest in respect of such additions or penalties.

 

“Tax Claim”
has the meaning set forth in Section 8.01.

 

“Tax Return”
means any return, declaration, report, claim for refund, information return or statement or other document required to be filed
with respect to Taxes, including any schedule or attachment thereto, and including any amendment thereof.

 

    4
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

“Territory”
means worldwide.

 

“Third-Party
Claim” has the meaning set forth in ‎Section 7.05(a).

 

“Transaction
Price” means $2.82 per ordinary share.

 

“ULIN”
is [***].

 

“Warrants”
has the meaning set forth in Section 2.02(b).

 

Article
II

Purchase and sale

 

Section 2.01 Purchase
and Sale. Subject to the terms and conditions set forth herein, at the Closing, Seller shall cause its nominee [***]
to sell to Buyer, and Buyer shall purchase from [***] at the direction of Seller, the Shares for the consideration specified in
Section 2.02.

 

Section 2.02 Consideration.
The consideration for the Shares shall be:

 

(a) Ordinary
shares of Buyer in an amount equal to $1,000,000 (one million dollars), as calculated based on the Transaction Price (the “Share
Consideration”), rounded down to the nearest whole share; and

 

(b) Three
warrants, each warrant to purchase 100,000 ordinary shares of the Buyer, issued to Seller and exercisable on each of the first,
second and third anniversaries of the Closing Date, in each case for a 30-day period and at an exercise price equal to 1.35 times
the Transaction Price (the “Warrants”).

 

Section 2.03 Transactions
to be Effected at the Closing.

 

(a) At the
Closing, Buyer shall deliver to Seller, or to its designees:

 

(i) the Share
Consideration;

 

(ii) the Warrants;
and

 

(iii) all
other agreements, documents, instruments or certificates required to be delivered by Buyer at or prior to the Closing pursuant
to ‎Section 6.03 of this Agreement.

 

    5
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

(b) At the
Closing, Seller shall deliver (or cause to be delivered) to Buyer:

 

(i) stock certificates
or other instruments evidencing the Shares, as required in order to perfect the transfer of the Shares free and clear of all Encumbrances
to Buyer under Singapore law; and

 

(ii) all other
agreements, documents, instruments or certificates required to be delivered by Seller at or prior to the Closing pursuant to ‎Section
6.02 of this Agreement.

 

Section 2.04 Closing.
Subject to the terms and conditions of this Agreement, the consummation of the transactions contemplated by this Agreement
(the “Closing”) shall take place at the offices of Barnea Law Firm, HaRakevet St 58, Tel Aviv-Yafo, 6777016,
Israel, at 3:00pm Israel time, on the fifth Business Day after all of the conditions to Closing set forth in ‎Article VI have
been satisfied or waived (other than conditions which, by their nature, are to be satisfied on the Closing Date), or at such other
time, date or place as Seller and Buyer may mutually agree upon in writing. The date on which the Closing is to occur is herein
referred to as the “Closing Date”.

 

Section 2.05 Reseller
Agreement and Related Payments. With respect to that certain Reseller Agreement between the Company and Ability Computers
and Software Industries Ltd. (“Ability”), dated October 20, 2015 (as amended by that certain First Amendment
to the Reseller Agreement, dated as of August 2018, the “Reseller Agreement”), the Parties agree as follows:

 

(a) Any
income from orders made pursuant to the Reseller Agreement prior to November 20, 2018 shall be split between Ability and the Company
pursuant to the Reseller Agreement, or as may be adjusted or otherwise agreed between Ability, the Company and the Seller. With
regards to any such income payable to the Company, the Company hereby instructs the Buyer to pay such income directly to the Seller
or as instructed by the Seller.

 

(i) With regards
to outstanding payments due from Ability to the Company pursuant to the Reseller Agreement as of December 31, 2018, the parties
agree that, within 15 Business Days after the Closing Date, Buyer shall pay Seller, or such other entity as instructed by the
Seller, an amount of 526,438 EUR (five hundred twenty-six thousand four hundred thirty-eight euros). The Buyer shall have no right
to demand the Seller to repay such amount.

 

(ii) The parties
agree that, within 15 Business Days after the Closing Date, the Buyer shall pay Seller, or such other entity as instructed by
the Seller, an amount of 30,000 EUR (thirty thousand euros) in return for services provided up to and including December 31, 2018.

 

(iii) With
regards to the payment due from Ability to the Company in connection with that certain client in [***], the parties agree as follows:

 

(a) Seller
shall repay the Buyer an amount of 103,857 EUR (one hundred three thousand eight hundred fifty-seven euros) previously paid by
the Buyer to the Seller in connection with that certain client in [***].

 

    6
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

(b) If Ability
received a written demand for repayment from such client prior to December 31, 2019, and such repayment was made prior to December
31, 2019, then Ability shall not be obligated to make any payments to the Company in connection with that client.

 

(c) If Ability
received a written demand for repayment from such client prior to December 31, 2019, but such repayment was not made by Ability
prior to June 30, 2020, then Ability shall pay the Company its share in connection with that client pursuant to the Reseller Agreement.

 

(d) If Ability
did not receive a written demand for repayment from such client prior to December 31, 2019, then Ability shall pay the Company
its share in connection with that client pursuant to the Reseller Agreement.

 

(b) The
Company shall not receive any income from orders made pursuant to the Reseller Agreement between November 20, 2018 and January
31, 2019.

 

(c) If the
Closing Date occurs on or prior to January 31, 2019, the Reseller Agreement shall be terminated.

 

Article
III

Representations and warranties of seller

 

Seller represents
and warrants to Buyer that the statements contained in this ‎Article III are true and correct as of the date hereof and at
the Closing Date.

 

Section
3.01 Organization and Authority of Seller. Seller is a corporation duly organized, validly existing and in good standing under
the Laws of the state of [***]. Seller, through the Declaration
of Trust, has all necessary corporate power and authority to enter into this Agreement, to carry out its obligations hereunder
and to consummate the transactions contemplated hereby. The execution and delivery by Seller of this Agreement, the performance
by Seller of its obligations hereunder and the consummation by Seller of the transactions contemplated hereby have been duly authorized
by all requisite corporate action on the part of Seller. This Agreement has been duly executed and delivered by Seller, and (assuming
due authorization, execution and delivery by Buyer) this Agreement constitutes a legal, valid and binding obligation of Seller,
enforceable against Seller in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar Laws affecting creditors’ rights generally and by general principles of equity (regardless
of whether enforcement is sought in a proceeding at law or in equity).

 

Section 3.02 Organization,
Authority and Qualification of the Company. The Company is a corporation duly organized, validly existing and in good standing
under the Laws of the state of Singapore and has all necessary corporate power and authority to own, operate or lease the properties
and assets now owned, operated or leased by it and to carry on its business as it is currently conducted. The Company is duly licensed
or qualified to do business and is in good standing in each jurisdiction in which the properties owned or leased by it or the operation
of its business as currently conducted makes such licensing or qualification necessary, except where the failure to be so licensed,
qualified or in good standing would not have a Material Adverse Effect. All corporate actions taken by the Company in connection
with this Agreement will be duly authorized on or prior to the Closing.

 

    7
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Section 3.03 Capitalization.

 

(a) The
authorized capital stock of the Company consists of 1,000 ordinary shares, of which 1,000 shares are issued and outstanding and
constitute the Shares. All of the Shares have been duly authorized, are validly issued, fully paid and non-assessable, and are
owned of record and beneficially by Seller, through [***] and the Declaration of Trust, free and clear of all Encumbrances. All
Share Consideration and Warrants to be paid on account of a sale of the Shares are to be paid to Seller or to its designees, and
[***] is merely a nominee and has no legal or equitable claim to any consideration on account of a sale of the Shares.

 

(b) There
are no outstanding or authorized options, warrants, convertible securities or other rights, agreements, arrangements or commitments
of any character relating to the capital stock of the Company or obligating Seller or the Company, or any of their Affiliates,
to issue or sell any shares of capital stock of, or any other interest in, the Company. The Company does not have outstanding
or authorized any stock appreciation, phantom stock, profit participation or similar rights. There are no voting trusts, stockholder
agreements, proxies or other agreements or understandings in effect with respect to the voting or transfer of any of the Shares.

 

Section 3.04 No
Subsidiaries. The Company does not own, or have any interest in any shares or have an ownership interest in any other
Person.

 

Section 3.05 No
Conflicts; Consents. The execution, delivery and performance by Seller of this Agreement, and the consummation of the
transactions contemplated hereby, do not and will not: (a) result in a violation or breach of any provision of the certificate
of incorporation or by-laws or other organizational documents of Seller or the Company; (b) result in a violation or breach of
any provision of any Law or Governmental Order applicable to Seller, or the Company; or (c) require the consent, notice or other
action by any Person under, conflict with, result in a violation or breach of, constitute a default under or result in the acceleration
of any Material Contract, except in the cases of clauses (b) and (c), where the violation, breach, conflict, default, acceleration
or failure to give notice would not have a Material Adverse Effect. No consent, approval, Permit, Governmental Order, declaration
or filing with, or notice to, any Governmental Authority is required by or with respect to Seller or the Company in connection
with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby, except for such
filings and such consents, approvals, Permits, Governmental Orders, declarations, filings or notices which, in the aggregate,
would not have a Material Adverse Effect.

 

    8
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Section 3.06 Financial
Statements. Copies of the Company’s financial statements consisting of the balance sheet of the Company as at
September 30 in each of the years 2017 and 2016 and the related statements of income and retained earnings, stockholders’
equity and cash flow for the years then ended (the “Financial Statements”) have been made available to Buyer.
The Financial Statements fairly present in all material respects the financial condition of the Company as of the respective dates
they were prepared and the results of the operations of the Company for the periods indicated. The balance sheet of the Company
as of September 30, 2017 is referred to herein as the “Balance Sheet”.

 

Section 3.07 Undisclosed
Liabilities. The Company has no liabilities, obligations or commitments of a type required to be reflected on a balance
sheet prepared in accordance with generally accepted accounting principles, except (i) those which are adequately reflected or
reserved against in the Balance Sheet as of the Balance Sheet Date; and (ii) those which have been incurred in the ordinary course
of business since the Balance Sheet Date and which are not material in amount.

 

Section 3.08 Absence
of Certain Changes, Events and Conditions. Except as expressly contemplated by the Agreement, from the Balance Sheet
Date until the date of this Agreement, the Company has operated in the ordinary course of business in all material respects and
there has not been, with respect to the Company, any:

 

(a) event,
occurrence or development that has had a Material Adverse Effect;

 

(b) material
amendment of the charter, by-laws or other organizational documents of the Company;

 

(c) issuance,
sale or other disposition of any of its capital stock, or grant of any options, warrants or other rights to purchase or obtain
(including upon conversion, exchange or exercise) any of its capital stock;

 

(d) material
change in any method of accounting or accounting practice of the Company, except as required by GAAP or applicable Law or as disclosed
in the notes to the Financial Statements;

 

(e) incurrence,
assumption or guarantee of any indebtedness for borrowed money in an aggregate amount exceeding $10,000, except unsecured current
obligations and liabilities incurred in the ordinary course of business;

 

(f) acquisition
by merger or consolidation with, or by purchase of a substantial portion of the assets or stock of, or by any other manner, any
business or any Person or any division thereof;

 

(g) adoption
of any plan of merger, consolidation, reorganization, liquidation or dissolution or filing of a petition in bankruptcy under any
provisions of federal or state bankruptcy Law or consent to the filing of any bankruptcy petition against it under any similar
Law; or

 

    9
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

(h) any
agreement to do any of the foregoing, or any action or omission that would result in any of the foregoing.

 

Section 3.09 Material
Contracts.

 

(a) The
Company has not entered into any of the following contracts or other agreements (the “Material Contracts”):

 

(i) each agreement
of the Company, which, cannot be cancelled by the Company without penalty or without more than 180 days’ notice;

 

(ii) all agreements
that relate to the sale of any of the Company’s assets, other than in the ordinary course of business;

 

(iii) all
agreements that relate to the acquisition of any business, a material amount of stock or assets of any other Person or any real
property (whether by merger, sale of stock, sale of assets or otherwise);

 

(iv) except
for agreements relating to trade receivables, all agreements relating to indebtedness (including, without limitation, guarantees)
of the Company;

 

(v) all agreements
between or among the Company on the one hand and Seller or any Affiliate of Seller (other than the Company) on the other hand;
and

 

(b) The
Company is not in breach of, or default under, any Material Contract, except for such breaches or defaults that would not have
a Material Adverse Effect.

 

Section 3.10 Intellectual
Property.

 

(a) “Intellectual
Property” means any and all of the following in any jurisdiction throughout the world: (i) trademarks and service marks,
including all applications and registrations and the goodwill connected with the use of and symbolized by the foregoing; (ii)
copyrights, including all applications and registrations related to the foregoing; (iii) trade secrets and confidential know-how;
(iv) patents and patent applications; (v) internet domain name registrations; (vi) object and source codes; and (vii) other intellectual
property and related proprietary rights, interests and protections.

 

(b) The
Company owns or has the right to use all Intellectual Property necessary to conduct the business as currently conducted (the “Company
Intellectual Property”).

 

(c) (i)
the Company Intellectual Property as currently licensed or used by the Company, and the Company’s conduct of its business
as currently conducted, do not infringe, misappropriate or otherwise violate the Intellectual Property of any Person; and (ii)
no Person is infringing, misappropriating or otherwise violating any Company Intellectual Property.

 

    10
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

(d) The
computer systems, networks, hardware, software, databases, websites, and equipment used to process, store, maintain and operate
data, information, and functions used in connection with the business of the Company (the “Company IT Systems”)
(i) are adequate for, and operate and perform in all material respects as required in connection with, the operation of the business
of the Company as currently conducted, (ii) since the incorporation of the Company have not failed in a manner that caused or
would reasonably be expected to cause a serious disruption to the business of the Company, and (iii) do not contain viruses, spyware
and other malicious faults or devices that may be embedded, except as would not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect. The Company has implemented commercially reasonable backup, security and disaster
recovery technology consistent in all material respects with applicable regulatory standards and customary industry practices.
The Company IT Systems do not contain any shareware, freeware, open source code, or other software subject to any license which
would mandate the disclosure or licensing of any Company IT Systems or Intellectual Property to any other Person in the event
such Company IT Systems or Intellectual Property were used in conjunction with such code, except where such uses, singly or in
the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

 

(e) The
Company has not received any notice (written or otherwise) that any of the Company Intellectual Property has expired, terminated
or been abandoned, or is expected to expire or terminate or be abandoned, within five (5) years from the date of this Agreement.
The Company has not received a written notice of a claim or otherwise has any knowledge that the Company Intellectual Property
violates or infringes upon the rights of any Person. All such Company Intellectual Property is enforceable and there is no existing
infringement by another Person of any of the Company Intellectual Property. The Company has taken reasonable security measures
to protect the secrecy, confidentiality and value of all of its intellectual properties. The Company has no knowledge of any facts
that would preclude it from having valid license rights or clear title to the Company Intellectual Property. The Company has no
knowledge that it lacks or will be unable to obtain any rights or licenses to use all Company Intellectual Property that is necessary
to conduct its business.

 

Section 3.11 Legal
Proceedings; Governmental Orders.

 

(a) There
are no actions, suits, claims, investigations or other legal proceedings pending or, to Seller’s knowledge, threatened against
or by the Company affecting any of its properties or assets (or by or against Seller or any Affiliate thereof and relating to
the Company), which if determined adversely to the Company (or to Seller or any Affiliate thereof) would result in a Material
Adverse Effect.

 

(b) There
are no outstanding Governmental Orders and no unsatisfied judgments, penalties or awards against or affecting the Company or any
of its properties or assets which would have a Material Adverse Effect.

 

    11
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Section 3.12 Compliance
With Laws; Permits.

 

(a) The
Company is in compliance with all Laws applicable to it or its business, properties or assets, except where the failure to be
in compliance would not have a Material Adverse Effect.

 

(b) All
Permits required for the Company to conduct its business have been obtained by it and are valid and in full force and effect,
except where the failure to obtain such Permits would not have a Material Adverse Effect.

 

Section 3.13 Employment
Matters.

 

(a) The
Company is not a party to, or bound by, any collective bargaining or other agreement with a labor organization representing any
of its Employees. Since the incorporation of the Company, there has not been, nor, to Seller’s knowledge, has there been
any threat of, any strike, slowdown, work stoppage, lockout, concerted refusal to work overtime or other similar labor activity
or dispute affecting the Company.

 

(b) The
Company is in compliance with all applicable Laws pertaining to employment and employment practices to the extent they relate
to employees of the Company, except to the extent non-compliance would not result in a Material Adverse Effect. Except as would
not have a Material Adverse Effect, there are no actions, suits, claims, investigations or other legal proceedings against the
Company pending, or to the Seller’s knowledge, threatened to be brought or filed, by or with any Governmental Authority
or arbitral tribunal in connection with the employment or termination of employment of any current or former employee of the Company,
including, without limitation, any claim relating to unfair labor practices, employment discrimination, harassment, retaliation,
equal pay or any other employment related matter arising under applicable Laws.

 

(c) The
representations and warranties set forth in this ‎Section
3.13 are the Seller’s sole and exclusive representations and warranties regarding employment matters.

 

Section 3.14 Taxes.

 

(a) The
Company has filed (taking into account any valid extensions) all material Tax Returns required to be filed by the Company. Such
Tax Returns are true, complete and correct in all material respects. The Company is not currently the beneficiary of any extension
of time within which to file any material Tax Return other than extensions of time to file Tax Returns obtained in the ordinary
course of business. All material Taxes due and owing by the Company have been paid or accrued.

 

(b) No extensions
or waivers of statutes of limitations have been given or requested with respect to any material Taxes of the Company.

 

(c) There
are no ongoing actions, suits, claims, investigations or other legal proceedings by any taxing authority against the Company.

 

(d) The
Company is not a party to any Tax-sharing agreement.

 

    12
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

(e) All
material Taxes which the Company is obligated to withhold from amounts owing to any employee, creditor or third party have been
paid or accrued.

 

(f) The
representations and warranties set forth in this ‎Section
3.14 are the Seller’s sole and exclusive representations and warranties regarding Tax matters.

 

Section 3.15 Brokers.
No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection
with the transactions contemplated by this Agreement based upon arrangements made by or on behalf of Seller.

 

Section 3.16 Full
Disclosure. No representation or warranty by the Seller in this Agreement or any certificate or other document furnished
or to be furnished to Buyer pursuant to this Agreement contains any untrue statement of a material fact, or omits to state a material
fact necessary to make the statements contained therein, in light of the circumstances in which they are made, not misleading.

 

Section 3.17 Investment
Purpose. The Seller understands that the Share Consideration, the Warrants and the ordinary shares underlying the Warrants
(collectively, the “Securities”) have not been registered under the Securities Act of 1933, as amended (the
“Securities Act”), by reason of a claimed exemption under the provisions of the Securities Act that depends,
in part, upon the Seller’s investment intention. In this connection, the Seller hereby represents that the Seller is purchasing
the Securities for its own account for investment and not with a view toward the resale or distribution to other.

 

Section 3.18 Seller
Status. The Seller is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D (an
“Accredited Investor”). The Seller is not required to be registered as a broker-dealer under Section
15 of the Securities Exchange Act of 1934 and such Seller is not a broker-dealer, nor an affiliate of a broker-dealer.
If the Seller is not a U.S. Person, the Seller (i) acknowledges that the certificate(s) representing or evidencing the Securities
contains a customary restrictive legend restricting the offer, sale or transfer of any Securities except in accordance with the
provisions of Regulation S, pursuant to registration under the Securities Act, or pursuant to an available exemption from registration,
(ii) agrees that all offers and sales by such Seller of Securities shall be made pursuant to an effective registration statement
under the Securities Act or pursuant to an exemption from, or a transaction not subject to the registration requirements of, the
Securities Act, (iii) represents that the offer to purchase the Securities was made to the Seller outside of the United States,
and the Seller was, at the time of the offer and will be, at the time of the sale and is now, outside the United States, (iv)
has not engaged in or directed any unsolicited offers to purchase Securities in the United States, (v) is neither a U.S. Person
nor a Distributor (as such terms are defined in Rule 902(k) and 902(d), respectively, of Regulation S), (vi) has purchased the
Securities for its own account and not for the account or benefit of any U.S. Person, (vii) is the sole beneficial owner of the
Securities specified on signature pages hereto opposite his name and has not pre-arranged any sale with any other seller in the
United States, and (ix) is familiar with and understands the terms and conditions and requirements contained in Regulation S,
specifically, without limitation, the Seller understands that the statutory basis for the exemption claimed for the sale of the
Securities would not be present if the sale, although in technical compliance with Regulation S, is part of a plan or scheme to
evade the registration provisions of the Securities Act.

 

    13
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Section 3.19 Reliance
on Exemptions. The Seller understands that the Securities are being offered and sold to it in reliance upon specific
exemptions from the registration requirements of United States federal and state securities laws and that the Buyer is relying
upon the truth and accuracy of, and the Seller’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of the Seller set forth herein in order to determine the availability of such exemptions and the eligibility
of the Seller to acquire the Securities.

 

Section 3.20 Experience
of the Seller. The Seller, either alone or together with its representatives, has such knowledge, sophistication and
experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Securities, and has so evaluated the merits and risks of such investment. The Seller is able to bear the economic risk
of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

 

Section 3.21 General
Solicitation.  The Seller is not purchasing the Securities as a result of any advertisement,
article, notice or other communication regarding Securities published in any newspaper, magazine or similar media or
broadcast over television or radio or presented at any seminar or any other general advertisement.

 

Section 3.22 Access
to Information. The Seller acknowledges that it has had the opportunity to review this Agreement, the Services Agreement
(including all exhibits and schedules thereto) and the Buyer’s filings with the Securities and Exchange Commission (the
“SEC”) and has been afforded, (i) the opportunity to ask such questions as it has deemed necessary of, and
to receive answers from, representatives of the Buyer concerning the terms and conditions of the offering of the Securities and
the merits and risks of investing in the Securities; (ii) access to information about the Buyer and its financial condition, results
of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the
opportunity to obtain such additional information that the Buyer possesses or can acquire without unreasonable effort or expense
that is necessary to make an informed investment decision with respect to the investment. 

 

Section 3.23 Transfer
or re-sale. The Seller understands that (i) the sale or re-sale of the Securities has not been and is not being registered
under the Securities Act or any applicable state securities laws, and the Securities may not be transferred unless (a) the Securities
are sold pursuant to an effective registration statement under the Securities Act, (b) the Seller shall have delivered to the
Buyer, at the cost of the Seller, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel
in comparable transactions to the effect that the Securities to be sold or transferred may be sold or transferred pursuant to
an exemption from such registration, which opinion may be accepted by the Buyer in its reasonable discretion, (c) the Securities
are sold or transferred to an “affiliate” (as defined in Rule 144) of the Seller who agrees to sell or otherwise transfer
the Securities only in accordance with this Section 3.23 and who is an Accredited Investor, or (d) the Securities are sold pursuant
to Rule 144 or Regulation S, and the Seller shall have delivered to the Buyer, at the cost of the Seller, an opinion of counsel
that shall be in form, substance and scope customary for opinions of counsel in corporate transactions, which opinion may be accepted
by the Buyer in its reasonable discretion; (ii) any sale of such Securities made in reliance on Rule 144 may be made only in accordance
with the terms of said Rule 144 and further, if said Rule 144 is not applicable, any re-sale of such Securities under circumstances
in which the Seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term is defined
in the Securities Act) may require compliance with some other exemption under the Securities Act or the rules and regulations
of the SEC thereunder; and (iii) neither the Buyer nor any other person is under any obligation to register such Securities under
the Securities Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder (in each
case).

 

    14
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Section 3.24 Legends.
The Seller consents to the placement of a legend on any certificate or other document evidencing the Securities that such securities
have not been registered under the Securities Act or any state securities or “blue sky” laws and setting forth or
referring to the restrictions on transferability and sale thereof contained in this Agreement. The Seller is aware that the Buyer
will make a notation in its appropriate records with respect to the restrictions on the transferability of such Shares. The legend
to be placed on each certificate shall be in form substantially similar to the following:

 

THESE SECURITIES HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. THESE
SECURITIES MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT
TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT,
THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE BUYER. THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA
FIDE MARGIN ACCOUNT SECURED BY SUCH SECURITIES.

 

Article
IV

Representations and warranties of buyer

 

Buyer represents and
warrants to Seller that the statements contained in this ‎Article IV are true and correct as of the date hereof.

 

Section 4.01 Organization
and Authority of Buyer. Buyer is a corporation duly organized, validly existing and in good standing under the Laws
of the state of Cayman Islands. Buyer has all necessary corporate power and authority to enter into this Agreement, to carry out
its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery by Buyer of this
Agreement, the performance by Buyer of its obligations hereunder and the consummation by Buyer of the transactions contemplated
hereby have been duly authorized by all requisite corporate action on the part of Buyer. This Agreement has been duly executed
and delivered by Buyer, and (assuming due authorization, execution and delivery by Seller) this Agreement constitutes a legal,
valid and binding obligation of Buyer, enforceable against Buyer in accordance with its terms, except as such enforceability may
be limited by bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting creditors’ rights generally and
by general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 

    15
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Section 4.02 No
Conflicts; Consents. The execution, delivery and performance by Buyer of this Agreement, and the consummation of the
transactions contemplated hereby, do not and will not: (a) result in a violation or breach of any provision of the certificate
of incorporation or by-laws of Buyer; or (b) result in a violation or breach of any provision of any Law or Governmental Order
applicable to Buyer, require the consent, notice or other action by any Person under, conflict with, result in a violation or
breach of, constitute a default under or result in the acceleration of any agreement to which Buyer is a party, except in the
case of clause (b), where the violation, breach, conflict, default, acceleration or failure to give notice would not have a material
adverse effect on Buyer’s ability to consummate the transactions contemplated hereby. No consent, approval, Permit, Governmental
Order, declaration or filing with, or notice to, any Governmental Authority is required by or with respect to Buyer in connection
with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby, except for such
consents, approvals, Permits, Governmental Orders, declarations, filings or notices which would not have a material adverse effect
on Buyer’s ability to consummate the transactions contemplated hereby.

 

Section 4.03 Brokers.
No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection
with the transactions contemplated by this Agreement based upon arrangements made by or on behalf of Buyer.

 

Section 4.04 Legal
Proceedings. There are no actions, suits, claims, investigations or other legal proceedings pending or, to Buyer’s
knowledge, threatened against or by Buyer or any Affiliate of Buyer that challenge or seek to prevent, enjoin or otherwise delay
the transactions contemplated by this Agreement.

 

Article
V

Covenants

 

Section 5.01 Conduct
of Business Prior to the Closing. From the date hereof until the Closing, except as otherwise provided in this Agreement
or consented to in writing by Buyer (which consent shall not be unreasonably withheld or delayed), Seller shall, and shall cause
the Company to: (a) conduct the business of the Company in the ordinary course of business; (b) use commercially reasonable efforts
to maintain and preserve intact the current organization, business and infrastructure of the Company, and to preserve the rights,
goodwill and relationships of its Employees, customers, lenders, suppliers, regulators and others having business relationships
with the Company and (c) to maintain and preserve intact the Company Intellectual Property. From the date hereof until the Closing
Date, except as consented to in writing by Buyer (which consent shall not be unreasonably withheld or delayed), Seller shall not
cause or permit the Company to take any action that would cause any of the changes, events or conditions described in ‎Section
3.08 to occur.

 

    16
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Section 5.02 Access
to Information. From the date hereof until the Closing, Seller shall, and shall cause the Company to: (a) afford Buyer
and its Representatives reasonable access to and the right to inspect all of the properties, assets, premises, books and records,
contracts, agreements and other documents and data related to the Company; (b) furnish Buyer and its Representatives with such
financial, operating and other data and information related to the Company as Buyer or any of its Representatives may reasonably
request; and (c) instruct the Representatives of Seller and the Company to cooperate with Buyer in its investigation of the Company;
provided, however, that any such investigation shall be conducted during normal business hours upon reasonable advance
notice to Seller, under the supervision of Seller’s personnel and in such a manner as not to interfere with the normal operations
of the Company. Notwithstanding anything to the contrary in this Agreement, neither Seller nor the Company shall be required to
disclose any information to Buyer if such disclosure would, in Seller’s sole discretion: (x) cause significant competitive
harm to Seller, the Company and their respective businesses if the transactions contemplated by this Agreement are not consummated;
(y) jeopardize any attorney-client or other privilege; or (z) contravene any applicable Law, fiduciary duty or binding agreement
entered into prior to the date of this Agreement.

 

Section 5.03 Resignations.
Seller shall deliver to Buyer written resignations, effective as of the Closing Date, of the officers and directors
of the Company prior to the Closing.

 

Section 5.04 Confidentiality.

 

(a) Seller
shall (and shall procure that its Affiliates and representatives) and Buyer shall (and shall procure that its Affiliates and representatives)
keep secret and treat as confidential any information provided to the other party pursuant to this Agreement.

 

(b) The
Parties hereto shall not disclose, or allow disclosure of, any Confidential Information to any third party without the prior written
approval of the other party.

 

(c) Each
party hereto shall protect the confidentiality of the Confidential Information with the same degree of care it uses to protect
its own Confidential Information, which measures will, at a minimum, be in accordance with generally accepted business standards
for protecting confidential and proprietary business information.

 

Section 5.05 Governmental
Approvals and Other Third-party Consents.

 

(a) Each
party hereto shall, as promptly as possible, use its reasonable best efforts to obtain, or cause to be obtained, all consents,
authorizations, orders and approvals from all Governmental Authorities that may be or become necessary for its execution and delivery
of this Agreement and the performance of its obligations pursuant to this Agreement. Each party shall cooperate fully with the
other party and its Affiliates in promptly seeking to obtain all such consents, authorizations, orders and approvals. The parties
hereto shall not willfully take any action that will have the effect of delaying, impairing or impeding the receipt of any required
consents, authorizations, orders and approvals.

 

    17
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

(b) All
analyses, appearances, meetings, discussions, presentations, memoranda, briefs, filings, arguments, and proposals made by or on
behalf of either party before any Governmental Authority or the staff or regulators of any Governmental Authority, in connection
with the transactions contemplated hereunder (but, for the avoidance of doubt, not including any interactions between Seller or
the Company with Governmental Authorities in the ordinary course of business, any disclosure which is not permitted by Law or
any disclosure containing confidential information) shall be disclosed to the other party hereunder in advance of any filing,
submission or attendance, it being the intent that the parties will consult and cooperate with one another, and consider in good
faith the views of one another, in connection with any such analyses, appearances, meetings, discussions, presentations, memoranda,
briefs, filings, arguments and proposals. Each party shall give notice to the other party with respect to any meeting, discussion,
appearance or contact with any Governmental Authority or the staff or regulators of any Governmental Authority, with such notice
being sufficient to provide the other party with the opportunity to attend and participate in such meeting, discussion, appearance
or contact.

 

(c) Seller
and Buyer shall use commercially reasonable efforts to give all notices to, and obtain all consents from, all necessary third
parties; provided, however, that Seller shall not be obligated to pay any consideration therefor to any third party from
whom consent or approval is requested.

 

Section 5.06 Books
and Records.

 

(a) In order
to facilitate the resolution of any claims made against or incurred by Seller prior to the Closing, or for any other reasonable
purpose, for a period of 5 years after the Closing, Buyer shall:

 

(i) retain
the books and records (including personnel files) of the Company relating to periods prior to the Closing in a manner reasonably
consistent with the prior practices of the Company; and

 

(ii) upon
reasonable notice, afford the Representatives of Seller reasonable access (including the right to make, at Seller’s expense,
photocopies), during normal business hours, to such books and records.

 

(b) In order
to facilitate the resolution of any claims made by or against or incurred by Buyer or the Company after the Closing, or for any
other reasonable purpose, for a period of 5 years following the Closing, Seller shall:

 

(i) retain
the books and records (including personnel files) of Seller which relate to the Company and its operations for periods prior to
the Closing; and

 

(ii) upon
reasonable notice, afford the Representatives of Buyer or the Company reasonable access (including the right to make, at Buyer’s
expense, photocopies), during normal business hours, to such books and records.

 

    18
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

(c) Neither
Buyer nor Seller shall be obligated to provide the other party with access to any books or records (including personnel files)
pursuant to this ‎Section 5.06 where such access would violate
any Law.

 

Section 5.07 Closing
Conditions. From the date hereof until the Closing, each party hereto shall, and Seller shall cause the Company to,
use commercially reasonable efforts to take such actions as are necessary to expeditiously satisfy the closing conditions set
forth in ‎Article VI hereof.

 

Section 5.08 Public
Announcements. Unless otherwise required by applicable Law or stock exchange requirements (based upon the reasonable
advice of counsel), no party to this Agreement shall make any public announcements in respect of this Agreement or the transactions
contemplated hereby or otherwise communicate with any news media without the prior written consent of the other party (which consent
shall not be unreasonably withheld or delayed), and the parties shall cooperate as to the timing and contents of any such announcement.

 

Section 5.09 Further
Assurances. Following the Closing, each of the parties hereto shall, and shall cause their respective Affiliates to,
execute and deliver such additional documents, instruments, conveyances and assurances, and take such further actions as may be
reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement.

 

Section 5.10 Transfer
Taxes. All transfer, documentary, sales, use, stamp, registration, value added and other such Taxes and fees (including
any penalties and interest) incurred in connection with this Agreement (including any real property transfer Tax and any other
similar Tax) shall be borne and paid by Seller when due. Seller shall, at its own expense, timely file any Tax Return or other
document with respect to such Taxes or fees (and Buyer shall cooperate with respect thereto as necessary).

 

Section 5.11 Non-Competition;
Non-Solicitation.

 

(a) For
a period of five (5) years commencing on the Closing Date (the “Restricted Period”), Seller shall not, and
shall not permit any of its Affiliates to, directly or indirectly, (i) engage in or assist others in engaging in the Restricted
Business in the Territory; (ii) have an interest in any Person that engages directly or indirectly in the Restricted Business
in the Territory in any capacity, including as a partner, shareholder, member, employee, principal, agent, trustee or consultant
or (iii) cause, induce or encourage any material actual or prospective client, customer, supplier or licensor of the Business
(including any existing or former client or customer of Seller and any Person that becomes a client or customer of the Business
after the Closing), or any other Person who has a material business relationship with the Business, to terminate or modify any
such actual or prospective relationship. Notwithstanding the foregoing, Seller may own, directly or indirectly, solely as an investment,
securities of any Person traded on any national securities exchange if Seller is not a controlling Person of, or a member of a
group which controls, such Person and does not, directly or indirectly, own 5% or more of any class of securities of such Person.

 

    19
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

(b) During
the Restricted Period, Seller shall not, and shall not permit any of its Affiliates to, directly or indirectly, hire or solicit
any person who is offered employment by Buyer or is employed in the ULIN business during the Restricted Period, or encourage any
such employee to leave such employment or hire any such employee who has left such employment, except pursuant to a general solicitation
which is not directed specifically to any such employees.

 

(c) Seller
acknowledges that a breach or threatened breach of this ‎Section
5.11 would give rise to irreparable harm to Buyer, for which monetary damages would not be an adequate remedy, and hereby agrees
that in the event of a breach or a threatened breach by Seller of any such obligations, Buyer shall, in addition to any and all
other rights and remedies that may be available to it in respect of such breach, be entitled to equitable relief, including a
temporary restraining order, an injunction, specific performance and any other relief that may be available from a court of competent
jurisdiction (without any requirement to post bond).

 

(d) Seller
acknowledges that the restrictions contained in this ‎Section
5.11 are reasonable and necessary to protect the legitimate interests of Buyer and constitute a material inducement to Buyer to
enter into this Agreement and consummate the transactions contemplated by this Agreement. In the event that any covenant contained
in this ‎Section 5.11 should ever be adjudicated to exceed the time, geographic, product or service or other limitations permitted
by applicable Law in any jurisdiction, then any court is expressly empowered to reform such covenant, and such covenant shall
be deemed reformed, in such jurisdiction to the maximum time, geographic, product or service or other limitations permitted by
applicable Law. The covenants contained in this ‎Section 5.11 and each provision hereof are severable and distinct covenants
and provisions. The invalidity or unenforceability of any such covenant or provision as written shall not invalidate or render
unenforceable the remaining covenants or provisions hereof, and any such invalidity or unenforceability in any jurisdiction shall
not invalidate or render unenforceable such covenant or provision in any other jurisdiction.

 

Article
VI

Conditions to closing

 

Section 6.01 Conditions
to Obligations of All Parties. The obligations of each party to consummate the transactions contemplated by this Agreement
shall be subject to the fulfillment, at or prior to the Closing, of each of the following conditions:

 

(a) No Governmental
Authority shall have enacted, issued, promulgated, enforced or entered any Governmental Order which is in effect and has the effect
of making the transactions contemplated by this Agreement illegal, otherwise restraining or prohibiting consummation of such transactions
or causing any of the transactions contemplated hereunder to be rescinded following completion thereof.

 

(b) Seller
shall have received all consents, authorizations, orders and approvals from the Governmental Authorities referred to in ‎Section
3.05 and Buyer shall have received all consents, authorizations, orders and approvals from the Governmental Authorities referred
to in ‎Section 4.02, in each case, in form and substance reasonably satisfactory to Buyer and Seller, and no such consent,
authorization, order and approval shall have been revoked.

 

    20
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Section 6.02 Conditions
to Obligations of Buyer. The obligations of Buyer to consummate the transactions contemplated by this Agreement shall
be subject to the fulfillment or Buyer’s waiver, at or prior to the Closing, of each of the following conditions:

 

(a) The
representations and warranties of Seller contained in ‎Article
III shall be true and correct in all respects as of the Closing Date with the same effect as though made at and as of such date
(except those representations and warranties that address matters only as of a specified date, which shall be true and correct
in all respects as of that specified date), except where the failure of such representations and warranties to be true and correct
would not have a Material Adverse Effect.

 

(b) Seller
shall have duly performed and complied in all material respects with all agreements, covenants and conditions required by this
Agreement to be performed or complied with by it prior to or on the Closing Date.

 

(c) Buyer
shall have received a certificate, dated the Closing Date and signed by a duly authorized officer of Seller, that each of the
conditions set forth in ‎Section 6.02(a) and ‎Section 6.02(b) have been satisfied.

 

(d) Buyer
shall have received a certificate of the Secretary or an Assistant Secretary (or equivalent officer) of Seller certifying that
attached thereto are true and complete copies of all resolutions adopted by the board of directors of Seller authorizing the execution,
delivery and performance of this Agreement and the consummation of the transactions contemplated hereby, and that all such resolutions
are in full force and effect and are all the resolutions adopted in connection with the transactions contemplated hereby.

 

(e) Buyer
shall have received a certificate of the Secretary or an Assistant Secretary (or equivalent officer) of Seller certifying the
names and signatures of the officers of Seller authorized to sign this Agreement and the other documents to be delivered hereunder.

 

(f) Seller
shall have delivered, or, by instructing [***] pursuant to the Declaration of Trust to do all necessary actions, caused to be
delivered to Buyer, stock certificates evidencing the Shares, free and clear of Encumbrances, duly endorsed in blank or accompanied
by stock powers or other instruments of transfer duly executed in blank and with all required stock transfer tax stamps affixed.

 

(g) Seller
shall have delivered, or caused to be delivered, to Buyer a duly executed copy of the Services Agreement, dated as of the Closing
Date.

 

(h) There
shall be not less than USD 2,000 in the bank account of the Company.

 

    21
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

(i) Buyer
shall have completed its due diligence investigation of the Company by January 15, 2019, and shall, in its sole discretion, be
satisfied with the results of such due diligence investigation.

 

Section 6.03 Conditions
to Obligations of Seller. The obligations of Seller to consummate the transactions contemplated by this Agreement shall
be subject to the fulfillment or Seller’s waiver, at or prior to the Closing, of each of the following conditions:

 

(a) The
representations and warranties of Buyer contained in ‎Article
IV shall be true and correct in all respects as of the Closing Date with the same effect as though made at and as of such date
(except those representations and warranties that address matters only as of a specified date, which shall be true and correct
in all respects as of that specified date), except where the failure of such representations and warranties to be true and correct
would not have a material adverse effect on Buyer’s ability to consummate the transactions contemplated hereby.

 

(b) Buyer
shall have duly performed and complied in all material respects with all agreements, covenants and conditions required by this
Agreement to be performed or complied with by it prior to or on the Closing Date.

 

(c) Seller
shall have received a certificate, dated the Closing Date and signed by a duly authorized officer of Buyer, that each of the conditions
set forth in ‎Section 6.03(a) and Section 6.03(b) have been satisfied.

 

(d) Seller
shall have received a certificate of the Secretary or an Assistant Secretary (or equivalent officer) of Buyer certifying that
attached thereto are true and complete copies of all resolutions adopted by the board of directors of Buyer authorizing the execution,
delivery and performance of this Agreement and the consummation of the transactions contemplated hereby, and that all such resolutions
are in full force and effect and are all the resolutions adopted in connection with the transactions contemplated hereby.

 

(e) Seller
shall have received a certificate of the Secretary or an Assistant Secretary (or equivalent officer) of Buyer certifying the names
and signatures of the officers of Buyer authorized to sign this Agreement and the other documents to be delivered hereunder.

 

(f) Buyer
shall have delivered to Seller, or to its designees, the Share Consideration.

 

(g) Buyer
shall have delivered, or caused to be delivered, to Seller a duly executed copy of the Services Agreement, dated as of the Closing
Date.

 

(h) Buyer
shall have delivered, or caused to be delivered, to Seller the Warrants, in such form to be agreed upon between the parties.

 

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[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Article
VII

Indemnification

 

Section 7.01 Survival.
Subject to the limitations and other provisions of this Agreement, the representations and warranties contained herein
shall survive the Closing and shall remain in full force and effect until the date that is three years from the Closing Date;
provided, that the representations and warranties in (i) ‎Section 3.01, ‎Section 3.02, ‎Section 3.03, Section
3.07, Section 3.10, ‎Section 3.15, ‎Section 4.01, ‎Section 4.02 and ‎Section 4.03 shall survive indefinitely,
and (ii) Section 3.14 shall survive for the full period of all applicable statutes of limitations (giving effect to any waiver,
mitigation or extension thereof) plus 60 days. All covenants and agreements of the parties contained herein shall survive the
Closing indefinitely or for the period explicitly specified therein. Notwithstanding the foregoing, any claims asserted in good
faith with reasonable specificity (to the extent known at such time) and in writing by notice from the non-breaching party to
the breaching party prior to the expiration date of the applicable survival period shall not thereafter be barred by the expiration
of the relevant representation or warranty and such claims shall survive until finally resolved.

 

Section 7.02 Indemnification
By Seller. Subject to the other terms and conditions of this ‎Section 7.02, Seller shall indemnify and defend each
of Buyer and its Affiliates and their respective Representatives (collectively, the “Buyer Indemnitees”) against,
and shall hold each of them harmless from and against, and shall pay and reimburse each of them for, any and all Losses incurred
or sustained by, or imposed upon, the Buyer Indemnitees based upon, arising out of, with respect to or by reason of:

 

(a) any
inaccuracy in or breach of any of the representations or warranties of Seller contained in this Agreement or in any agreement,
certificate or instrument delivered by or on behalf of Seller pursuant to this Agreement, as of the date such representation or
warranty was made or as if such representation or warranty was made on and as of the Closing Date (except for representations
and warranties that expressly relate to a specified date, the inaccuracy in or breach of which will be determined with reference
to such specified date);

 

(b) any
breach or non-fulfillment of any covenant, agreement or obligation to be performed by Seller pursuant to this Agreement or any
agreement, certificate or instrument delivered by or on behalf of Seller pursuant to this Agreement; or

 

(c) any
Third Party Claim based upon, resulting from or arising out of the business, operations, properties, assets or obligations of
any Seller or any of its Affiliates conducted, existing or arising on or prior to the Closing Date.

 

Section 7.03 Indemnification
By Buyer. Subject to the other terms and conditions of this ‎Section 7.03, Buyer shall indemnify and defend Seller
and its Affiliates and their respective Representatives (collectively, the “Seller Indemnitees”) against, and
shall hold each of them harmless from and against, and shall pay and reimburse each of them for, any and all Losses incurred or
sustained by, or imposed upon, the Seller Indemnitees based upon, arising out of, with respect to or by reason of:

 

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[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

(a) any
inaccuracy in or breach of any of the representations or warranties of Buyer contained in this Agreement or in any certificate
or instrument delivered by or on behalf of Buyer pursuant to this Agreement, as of the date such representation or warranty was
made or as if such representation or warranty was made on and as of the Closing Date (except for representations and warranties
that expressly relate to a specified date, the inaccuracy in or breach of which will be determined with reference to such specified
date); or

 

(b) any
breach or non-fulfillment of any covenant, agreement or obligation to be performed by Buyer pursuant to this Agreement.

 

Section 7.04 Certain
Limitations. The indemnification provided for in ‎Section
7.02 and ‎Section 7.03 shall be subject to the following limitations:

 

(a) Seller
shall not be liable to the Buyer Indemnitees for indemnification under Section 7.02(a) until the aggregate amount of all Losses
in respect of indemnification under Section 7.02(a) exceeds 1% of the Purchase Price (the “Basket”), in which
event Seller shall be required to pay or be liable for all such Losses from the first dollar. The aggregate amount of all Losses
for which Seller shall be liable pursuant to Section 7.02(a) shall not exceed 20% of the Purchase Price (the “Cap”).

 

(b) Buyer
shall not be liable to the Seller Indemnitees for indemnification under Section 7.03(a) until the aggregate amount of all Losses
in respect of the indemnification exceeds the Basket, in which event Buyer shall be required to pay or be liable for all such
Losses from the first dollar. The aggregate amount of all Losses for which Buyer shall be liable pursuant to Section 7.03(a) shall
not exceed the Cap.

 

(c) Notwithstanding
the foregoing, the limitations set forth in Section 7.04(a) and 7.04(b) shall not apply to Losses based upon, arising out of,
with respect to or by reason of any inaccuracy in or breach of any representation or warranty in Section 3.01, Section 3.02, Section
3.03, Section 3.07, Section 3.10 and Section 3.15.

 

(d) For
purposes of this ‎Section 7.04, any inaccuracy in or breach of any representation or warranty shall be determined without
regard to any materiality, Material Adverse Effect or other similar qualification contained in or otherwise applicable to such
representation or warranty.

 

    24
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Section 7.05 Indemnification
Procedures. The party making a claim under this Article VII is referred to as the “Indemnified Party”,
and the party against whom such claims are asserted under this Article VII is referred to as the “Indemnifying Party”.

 

(a) Third-Party
Claims. If any Indemnified Party receives notice of the assertion or commencement of any action, suit, claim or other legal proceeding
made or brought by any Person who is not a party to this Agreement or an Affiliate of a party to this Agreement or a Representative
of the foregoing (a “Third-Party Claim”) against such Indemnified Party with respect to which the Indemnifying
Party is obligated to provide indemnification under this Agreement, the Indemnified Party shall give the Indemnifying Party prompt
written notice thereof. The failure to give such prompt written notice shall not, however, relieve the Indemnifying Party of its
indemnification obligations, except and only to the extent that the Indemnifying Party forfeits rights or defenses by reason of
such failure. Such notice by the Indemnified Party shall describe the Third-Party Claim in reasonable detail, shall include copies
of all material written evidence thereof and shall indicate the estimated amount, if reasonably practicable, of the Loss that
has been or may be sustained by the Indemnified Party. The Indemnifying Party shall have the right to participate in, or by giving
written notice to the Indemnified Party, to assume the defense of any Third-Party Claim at the Indemnifying Party’s expense
and by the Indemnifying Party’s own counsel, and the Indemnified Party shall cooperate in good faith in such defense. In
the event that the Indemnifying Party assumes the defense of any Third-Party Claim, subject to ‎Section 7.05(b), it shall
have the right to take such action as it deems necessary to avoid, dispute, defend, appeal or make counterclaims pertaining to
any such Third-Party Claim in the name and on behalf of the Indemnified Party. The Indemnified Party shall have the right, at
its own cost and expense, to participate in the defense of any Third-Party Claim with counsel selected by it subject to the Indemnifying
Party’s right to control the defense thereof. If the Indemnifying Party elects not to compromise or defend such Third-Party
Claim or fails to promptly notify the Indemnified Party in writing of its election to defend as provided in this Agreement, the
Indemnified Party may, subject to ‎Section 7.05(b), pay, compromise, defend such Third-Party Claim and seek indemnification
for any and all Losses based upon, arising from or relating to such Third-Party Claim. Seller and Buyer shall cooperate with each
other in all reasonable respects in connection with the defense of any Third-Party Claim, including making available (subject
to the provisions of ‎Section 5.04) records relating to such Third-Party Claim and furnishing, without expense (other than
reimbursement of actual out-of-pocket expenses) to the defending party, management employees of the non-defending party as may
be reasonably necessary for the preparation of the defense of such Third-Party Claim.

 

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[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

(b) Settlement
of Third-Party Claims. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not enter into settlement
of any Third-Party Claim without the prior written consent of the Indemnified Party (which consent shall not be unreasonably withheld
or delayed), except as provided in this ‎Section 7.05(b). If a firm offer is made to settle a Third-Party Claim without leading
to liability or the creation of a financial or other obligation on the part of the Indemnified Party and provides, in customary
form, for the unconditional release of each Indemnified Party from all liabilities and obligations in connection with such Third-Party
Claim and the Indemnifying Party desires to accept and agree to such offer, the Indemnifying Party shall give written notice to
that effect to the Indemnified Party. If the Indemnified Party fails to consent to such firm offer within ten days after its receipt
of such notice, the Indemnified Party may continue to contest or defend such Third-Party Claim and in such event, the maximum
liability of the Indemnifying Party as to such Third-Party Claim shall not exceed the amount of such settlement offer. If the
Indemnified Party fails to consent to such firm offer and also fails to assume defense of such Third-Party Claim, the Indemnifying
Party may settle the Third-Party Claim upon the terms set forth in such firm offer to settle such Third-Party Claim. If the Indemnified
Party has assumed the defense pursuant to ‎Section 7.05(a), it shall not agree to any settlement without the written consent
of the Indemnifying Party (which consent shall not be unreasonably withheld or delayed).

 

    26
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

(c) Direct
Claims. Any claim by an Indemnified Party on account of a Loss which does not result from a Third-Party Claim (a “Direct
Claim”) shall be asserted by the Indemnified Party giving the Indemnifying Party prompt written notice thereof. The
failure to give such prompt written notice shall not, however, relieve the Indemnifying Party of its indemnification obligations,
except and only to the extent that the Indemnifying Party forfeits rights or defenses by reason of such failure. Such notice by
the Indemnified Party shall describe the Direct Claim in reasonable detail, shall include copies of all material written evidence
thereof and shall indicate the estimated amount, if reasonably practicable, of the Loss that has been or may be sustained by the
Indemnified Party. The Indemnifying Party shall have 30 days after its receipt of such notice to respond in writing to such Direct
Claim. During such 30-day period, the Indemnified Party shall allow the Indemnifying Party and its professional advisors to investigate
the matter or circumstance alleged to give rise to the Direct Claim, and whether and to what extent any amount is payable in respect
of the Direct Claim and the Indemnified Party shall assist the Indemnifying Party’s investigation by giving such information
and assistance (including access to the Company’s premises and personnel and the right to examine and copy any accounts,
documents or records) as the Indemnifying Party or any of its professional advisors may reasonably request. If the Indemnifying
Party does not so respond within such 30-day period, the Indemnifying Party shall be deemed to have rejected such claim, in which
case the Indemnified Party shall be free to pursue such remedies as may be available to the Indemnified Party on the terms and
subject to the provisions of this Agreement.

 

Section 7.06 Tax
Treatment of Indemnification Payments. All indemnification payments made under this Agreement shall be treated by the
parties as an adjustment to the Purchase Price for Tax purposes, unless otherwise required by Law.

 

Section 7.07 Exclusive
Remedies. Subject to Section 7.08 and ‎Section
9.11, the parties acknowledge and agree that their sole and exclusive remedy with respect to any and all claims (other than claims
arising from fraud on the part of a party hereto in connection with the transactions contemplated by this Agreement) for any breach
of any representation, warranty, covenant, agreement or obligation set forth herein or otherwise relating to the subject matter
of this Agreement, shall be pursuant to the indemnification provisions set forth in this ‎Article VII. In furtherance of the
foregoing, each party hereby waives, to the fullest extent permitted under Law, any and all rights, claims and causes of action
for any breach of any representation, warranty, covenant, agreement or obligation set forth herein or otherwise relating to the
subject matter of this Agreement it may have against the other parties hereto and their Affiliates and each of their respective
Representatives arising under or based upon any Law, except pursuant to the indemnification provisions set forth in this ‎Article
VII. Nothing in this ‎Section 7.07 shall limit any Person’s right to seek and obtain any equitable relief to which any
Person shall be entitled pursuant to ‎Section 9.11 or to seek any remedy on account of fraud by any party hereto.

 

    27
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Section 7.08 Unjust
Termination by Seller. Notwithstanding anything contained herein, Seller acknowledges that if Seller breaches this
Agreement prior to the Closing Date while the Buyer is not in a material breach of a material provision of this Agreement, such
breach would give rise to irreparable harm to Buyer, and Seller shall pay to Buyer an amount of $300,000, in addition to any and
all other rights and remedies that may be available to it in respect of such breach by the Seller.

 

Article
VIII

TAX MATTERS

 

Section
8.01 Notice of Tax Claims. Seller will promptly notify Buyer (no later than five Business Days) in writing upon
receipt by Seller (or any of its Affiliates) of notice of any pending or threatened audit, examination or proceeding by a Governmental
Authority (a “Tax Claim”).

 

Section 8.02 Seller’s
Cooperation and Exchange of Information. Seller shall provide Buyer with such cooperation and information as the
Buyer requests in filing any Tax Return of the Company or in connection with any audit or proceeding in respect of Taxes
of the Company for all periods prior to the Closing Date. Such cooperation and information shall include providing copies of relevant
Tax Returns or portions thereof, together with accompanying schedules, related work papers and documents relating to ruling or
other determinations by tax authorities. Seller and Buyer shall retain all Tax Returns, schedules and work papers, records and
other documents in its possession relating to Tax matters of the Company for any taxable period beginning before the Closing Date
until the expiration of the statute of limitations of the taxable periods to which such Tax Returns and other documents relate,
without regard to extensions except to the extent notified by the other party in writing of such extensions for the respective
Tax periods. Prior to transferring, destroying or discarding any Tax Returns, schedules and work papers, records and other documents
in its possession relating to Tax matters of the Company for any taxable period beginning before the Closing Date, Seller shall
provide the Buyer with reasonable written notice and offer the Buyer the opportunity to take custody of such materials.

 

Article
IX

Termination

 

Section 9.01 Termination.
This Agreement may be terminated at any time prior to the Closing:

 

(a) by the
mutual written consent of Seller and Buyer;

 

(b) by Buyer
by written notice to Seller if:

 

(i) Buyer
is not then in material breach of any provision of this Agreement and there has been a material breach, inaccuracy in or failure
to perform any representation, warranty, covenant or agreement made by Seller pursuant to this Agreement that would give rise
to the failure of any of the conditions specified in ‎Article VI and such breach, inaccuracy or failure cannot be cured by
Seller by January 15, 2019 (the “Drop Dead Date”); or

 

    28
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

(ii) any of
the conditions set forth in ‎Section 6.01 or ‎Section
6.02 shall not have been fulfilled by the Drop Dead Date, unless such failure shall be due to the failure of Buyer to perform
or comply with any of the covenants, agreements or conditions hereof to be performed or complied with by it prior to the Closing;

 

(iii) Buyer,
at any time and at its sole discretion, is not satisfied in its due diligence of the Company, which must be completed by January
15, 2019.

 

(c) by Seller
by written notice to Buyer if:

 

(i) Seller
is not then in material breach of any provision of this Agreement and there has been a material breach, inaccuracy in or failure
to perform any representation, warranty, covenant or agreement made by Buyer pursuant to this Agreement that would give rise to
the failure of any of the conditions specified in ‎Article VI and such breach, inaccuracy or failure cannot be cured by Buyer
by the Drop Dead Date; or

 

(ii) any of
the conditions set forth in ‎Section 6.01 or ‎Section
6.03 shall not have been fulfilled by the Drop Dead Date, unless such failure shall be due to the failure of Seller to perform
or comply with any of the covenants, agreements or conditions hereof to be performed or complied with by it prior to the Closing;
or

 

(d) by Buyer
or Seller in the event that:

 

(i) there
shall be any Law that makes consummation of the transactions contemplated by this Agreement illegal or otherwise prohibited; or

 

(ii) any Governmental
Authority shall have issued a Governmental Order restraining or enjoining the transactions contemplated by this Agreement, and
such Governmental Order shall have become final and non-appealable.

 

Section 9.02 Effect
of Termination. In the event of the termination of this Agreement in accordance with this Article, this Agreement shall
forthwith become void and there shall be no liability on the part of any party hereto except:

 

(a) as set
forth in this ‎Article VIII and ‎Section 5.04 and ‎Article
IX hereof; and

 

(b) that
nothing herein shall relieve any party hereto from liability for any intentional breach of any provision hereof.

 

Article
X

Miscellaneous

 

Section 10.01 Expenses.
Except as otherwise expressly provided herein (including ‎Section
5.10 hereof), all costs and expenses, including, without limitation, fees and disbursements of counsel, financial advisors and
accountants, incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring
such costs and expenses, whether or not the Closing shall have occurred.

 

    29
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Section 10.02 Notices.
All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and
shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when received by the
addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or e-mail
of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next Business
Day if sent after normal business hours of the recipient or (d) on the third day after the date mailed, by certified or registered
mail, return receipt requested, postage prepaid. Such communications must be sent 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 9.02):

 

	If to Seller:	[***]

        

        

         

	with a copy to:	[***]

         

	If to Buyer:	Ability Inc.

        Yad Harutzim 14

        Tel Aviv, Israel, 6770007

        Email: avi@ability.co.il

        Tel: +972-72-260-2200

        Attention: Avi Levin, CFO

         

	with a copy to:	McDermott Will & Emery LLP

        340 Madison Avenue

        New York, NY 10173-1922

        Telephone: (212) 547-5541 

        Facsimile: (212) 547-5444

        Attention: Gary Emmanuel

 

    30
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Section 10.03 Interpretation.
For purposes of this Agreement: (a) the words “include,” “includes” and “including”
shall be deemed to be followed by the words “without limitation”; (b) the word “or” is not exclusive;
and (c) the words “herein,” “hereof,” “hereby,” “hereto” and “hereunder”
refer to this Agreement as a whole. Unless the context otherwise requires, references herein: (x) to Articles, Sections and Exhibits
mean the Articles and Sections of, and Exhibits attached to, this Agreement; (y) to an agreement, instrument or other document
means such agreement, instrument or other document as amended, supplemented and modified from time to time to the extent permitted
by the provisions thereof; and (z) to a statute means such statute as amended from time to time and includes any successor legislation
thereto and any regulations promulgated thereunder. This Agreement shall be construed without regard to any presumption or rule
requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. The
Exhibits referred to herein shall be construed with, and as an integral part of, this Agreement to the same extent as if they
were set forth verbatim herein.

 

Section 10.04 Headings.
The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.

 

Section 10.05 Severability.
If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity,
illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable
such term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal
or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent
of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated
as originally contemplated to the greatest extent possible.

 

Section 10.06 Entire
Agreement. This Agreement constitutes the sole and entire agreement of the parties to this Agreement with respect to
the subject matter contained herein, and supersede all prior and contemporaneous representations, warranties, understandings and
agreements, both written and oral, with respect to such subject matter. In the event of any inconsistency between the statements
in the body of this Agreement and the Exhibits, the statements in the body of this Agreement will control.

 

Section 10.07 Successors
and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective
successors and permitted assigns. Neither party may assign its rights or obligations hereunder without the prior written consent
of the other party, which consent shall not be unreasonably withheld or delayed. No assignment shall relieve the assigning party
of any of its obligations hereunder.

 

Section 10.08 No
Third-party Beneficiaries. Except as provided in ‎Article
VII, this Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns and nothing
herein, express or implied, is intended to or shall confer upon any other Person or entity any legal or equitable right, benefit
or remedy of any nature whatsoever under or by reason of this Agreement.

 

    31
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Section 10.09 Amendment
and Modification; Waiver. This Agreement may only be amended, modified or supplemented by an agreement in writing signed
by each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in
writing and signed by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any
failure, breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether
occurring before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising
from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right,
remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy,
power or privilege.

 

Section 10.10 Governing
Law; Submission to Jurisdiction; Waiver of Jury Trial.

 

(a) This
Agreement shall be governed by and construed in accordance with the internal laws of the State of Israel.

 

(b) ANY
LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE SERVICES AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY OR THEREBY MAY BE INSTITUTED IN THE COURTS OF THE STATE OF ISRAEL, IN THE CITY OF TEL AVIV, AND EACH PARTY IRREVOCABLY
SUBMITS TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT, ACTION OR PROCEEDING. SERVICE OF PROCESS, SUMMONS, NOTICE
OR OTHER DOCUMENT BY MAIL TO SUCH PARTY’S ADDRESS SET FORTH HEREIN SHALL BE EFFECTIVE SERVICE OF PROCESS FOR ANY SUIT, ACTION
OR OTHER PROCEEDING BROUGHT IN ANY SUCH COURT. THE PARTIES IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY OBJECTION TO THE LAYING OF
VENUE OF ANY SUIT, ACTION OR ANY PROCEEDING IN SUCH COURTS AND IRREVOCABLY WAIVE AND AGREE NOT TO PLEAD OR CLAIM IN ANY SUCH COURT
THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

 

(c) EACH
PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT
ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT
OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY TO THIS AGREEMENT
CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION, (B) SUCH PARTY HAS CONSIDERED THE IMPLICATIONS
OF THIS WAIVER, (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (D) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.10(c).

 

    32
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Section 10.11 Specific
Performance. The parties agree that irreparable damage would occur if any provision of this Agreement were not performed
in accordance with the terms hereof and that the parties shall be entitled to specific performance of the terms hereof, in addition
to any other remedy to which they are entitled at law or in equity.

 

Section 10.12 Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together
shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means
of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

    33
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed as of the date first written above by their respective officers thereunto
duly authorized.

 

	 	[***]
	 	 	 
	 	By:	 
	 	
        

         

        Name:

        Title:
	 
	 	 
	 	TELCOSTAR PTE. LTD., for purposes of Section 2.05 to this Agreement
	 	 	 
	 	By:	 
	 	 	 
	 	Name:
	 	Title:
	 	 	 
	 	ABILITY INC.
	 	 	 
	 	By:	 
	 	 	 
	 	Name:
	 	Title:

 

 

    [***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

Exhibit A

 

Form of Services Agreement

 

    [***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.Exhibit 10.2

 

SERVICES AGREEMENT

 

This Services Agreement
(this “Agreement”) is entered into on January 15, 2019, and is made effective as of January 1, 2019 (the “Effective
Date”), by and between [***] (the “Provider”), and TELCOSTAR PTE, LTD., a company organized and existing
under the laws of Singapore (“Recipient”) as an amendment and restatement to that certain Contract for Production
between Provider and Recipient, dated as of March 1, 2016 (the “Production Contract”). Each of the foregoing
parties is referred to herein as a “Party” and together as the “Parties”.

 

RECITALS

 

A. Ability Inc., a
company organized and existing under the laws of the Cayman Islands (“Ability”) and an affiliate of Provider
have entered into that certain Share Purchase Agreement, dated as of November 20, 2018 (as amended from time to time, the “Purchase
Agreement”), pursuant to which the affiliate has agreed to sell to Ability, and Ability has agreed to purchase
from the affiliate, all the outstanding capital stock of Recipient, all as more fully described therein. Capitalized terms used
herein and not otherwise defined shall have the meaning ascribed to such terms in the Purchase Agreement.

 

B. In connection with
the sale of the Recipient to Ability and as a condition to consummating the transactions contemplated by the Purchase Agreement,
Recipient and Provider have agreed to enter into this Agreement, pursuant to which Provider will provide Recipient with certain
services and resources, subject to the terms and conditions set forth herein.

 

AGREEMENT

 

The
Parties hereby agree as follows:

 

1.
Services.

 

1.1 Provision of
Services.

 

(a) Provider agrees to
provide the services and resources (the “Services”) set forth on the Exhibit A attached hereto (as such
Exhibit may be amended or supplemented pursuant to the terms of this Agreement, the “Exhibit”) to Recipient
for the respective periods and on the other terms and conditions set forth in this Agreement and in the Exhibit. Notwithstanding
the contents of the Exhibit, Provider agrees to respond in good faith to any reasonable request by Recipient for access to any
additional services and resources that are necessary for the operation of the Recipient and which are not currently contemplated
in the Exhibit, at a price to be agreed upon after good faith negotiations between the Parties. Any such additional services and
resources so provided by Provider shall constitute Services under this Agreement and be subject in all respect to the provisions
of this Agreement as if fully set forth on the Exhibit as of the date hereof.

 

(b) Recipient may freely
assign its rights under this Agreement to receive the Services to any of its affiliates.

 

     
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

1.2 Standard of
Service.

 

(a) Provider represents,
warrants and agrees that the Services shall be provided in good faith, in accordance with applicable law and in a manner generally
consistent with the historical provision of the Services and with the same standard of care as historically provided.

 

(b) Provider shall maintain
complete and accurate records relating to the provision of the Services under this Agreement, in such form as Recipient shall approve.

 

(c) Provider shall use
its best efforts to provide for employees or contractors to perform the Services, each of whose names, positions, and respective
levels of experience and relevant licenses shall be set out in Exhibit A attached hereto (collectively, the “Provider
Representatives”). Provider may not make any change in the Provider Representatives without the prior consent of the
Recipient. Provider Representatives shall be dedicated to solely providing the Services to Recipient and shall not provide any
such services or resources to Provider or any other customer of Provider.

 

(d) Recipient acknowledges
that this Agreement does not create a fiduciary relationship, partnership, joint venture or relationships of trust or agency between
the Parties and that all Services are provided by Provider as an independent contractor.

 

(e)
Notwithstanding anything to the contrary in this Section 1.2: (a) in the event that Provider uses any subcontractors
to perform any Services, Provider is not released from responsibility for its obligations under this Agreement; (b) Provider
shall remain fully responsible, financially and otherwise, for the Services provided by each subcontractor to the same extent
as if Provider had performed the Services itself (subject to the limitations set forth in this Agreement) and agrees to pay
the fees and expenses of any such subcontractor; (c) Provider shall remain ultimately responsible for ensuring that the
Services are provided and any such subcontractor performs any such obligations in accordance with the terms of this
Agreement, and (d) the obligations with respect to the nature, quality and standards of care set forth in Section 1.2
are satisfied with respect to any Service provided by any subcontractor.

 

(f) Provider shall at
all times during the term of this Agreement maintain, or cause to be maintained, the computer software and computer hardware that
is used in connection with the Services with substantially the same degree of care, skill and diligence with which Provider maintains,
or causes to be maintained, as of the Effective Date, such computer software and computer hardware for itself, consistent with
past practices, as of the Effective Date, including without limitation, with respect to type, quality and timeliness of such maintenance.

 

1.3 Additional Services.
Nothing in this Agreement shall be construed to prevent the Recipient from itself performing or from acquiring services from other
providers that are similar to or identical to the Services.

 

1.4 Intellectual
Property.

 

(a) Provider assigns
to the Recipient, Provider’s entire right, title, and interest in any invention, technique, process, device, discovery, improvement,
or know-how, whether patentable or not, hereafter made or conceived solely or jointly by Provider while working for or on behalf
of the Recipient, which relate to, is suggested by, or results from the Services.

 

    2
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

(b) At Recipient’s
request, Provider shall disclose any such invention, technique, process, device, discovery, improvement, or know-how promptly to
Recipient. Provider shall, upon request of Recipient, promptly execute a specific assignment of title to Recipient, and do anything
else reasonably necessary to enable Recipient to secure for itself, patent, trade secret, or any other proprietary rights.

 

(c) All writings or works
of authorship, including, without limitation, program codes or documentation, produced or authored by Provider in the course of
performing services for the Recipient, together with any associated copyrights, are works made for hire and the exclusive property
of the Recipient. To the extent that any writings or works of authorship may not, by operation of law, be works made for hire,
this Agreement shall constitute an irrevocable assignment by Provider to the Recipient of the ownership of and all rights of copyright
in, such items, and the Recipient shall have the right to obtain and hold in its own name, rights of copyright, copyright registrations,
and similar protections which may be available in the works. Provider shall give the Recipient or its designees all assistance
reasonably required to perfect such rights.

 

2.
Compensation.

 

2.1 Responsibility
for Wages and Fees. For such time as any employees of Provider are providing the Services to Recipient under this Agreement,
(a) such employees will remain employees of Provider and shall not be deemed to be employees of Recipient for any purpose, and
(b) Provider shall be solely responsible for the payment and provision of all wages, bonuses and commissions, employee benefits,
including severance and worker’s compensation, and the withholding and payment of applicable taxes relating to such employment.

 

2.2 Terms of Payment
and Related Matters.

 

(a) As consideration
for provision of the Services following the Effective Date, Recipient shall pay Provider an amount equal to Provider’s actual
cost of providing the Services plus a 10% service fee. In addition to such amount, in the event that Provider incurs reasonable
and documented out-of-pocket expenses in the provision of any Service, including, without limitation, license fees and payments
to third-party service providers or subcontractors (such included expenses, collectively, “Out-of-Pocket Costs”),
Recipient shall reimburse Provider for all such Out-of-Pocket Costs.

 

(b) (i) Provider shall
provide Recipient with monthly invoices (“Invoices”), which shall set forth in reasonable detail, with such
supporting documentation as Recipient may reasonably request with respect to Out-of-Pocket Costs, amounts payable under this Agreement,
and (ii) payments pursuant to this Agreement shall be made within fifteen (15) days after the date of receipt of an Invoice by
Recipient from Provider.

 

(c) Provider shall allow
the Recipient to use [***] at no cost, until December 31, 2021.

 

    3
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

2.3 Invoice Disputes.
In the event of an Invoice dispute, Recipient shall deliver a written statement to Provider prior to the date payment is due on
the disputed Invoice listing all disputed items and providing a reasonably detailed description of each disputed item. Amounts
not so disputed shall be deemed accepted and shall be paid, notwithstanding disputes on other items. The Parties shall seek to
resolve all such disputes expeditiously and in good faith. Provider shall continue performing the Services in accordance with this
Agreement pending resolution of any dispute.

 

2.4 No Right of
Setoff. Each of the Parties hereby acknowledges that it shall have no right under this Agreement to offset any amounts owed
(or to become due and owing) to the other Party, whether under this Agreement, the Purchase Agreement or otherwise, against any
other amount owed (or to become due and owing) to it by the other Party.

 

3.
Termination.

 

3.1 Termination
of Agreement. This Agreement be deemed effective as of the Effective Date, Agreement and shall terminate on December 31, 2019,
unless terminated earlier in accordance with Section 3.2.

 

3.2 Each of the Recipient
and the Provider may, in their sole discretion, terminate this Agreement in whole or in part, at any time without cause, and without
liability except, in the case of the Recipient, for required payment for services rendered and reimbursement for authorized expenses
incurred, by providing at least 90 (ninety) days’ prior written notice to the other party (such date, the “Services
Termination Date”).

 

3.3 Breach.
Any Party (the “Non-Breaching Party”) may terminate this Agreement with respect to any Service, in whole but
not in part, at any time upon prior written notice to the other Party (the “Breaching Party”), if the Breaching
Party has failed (other than pursuant to Section ‎3.6) to perform any of its material obligations under this Agreement relating
to such Service, and such failure shall have continued without cure for a period of 30 days after receipt by the Breaching Party
of a written notice of such failure from the Non-Breaching Party seeking to terminate such service. For the avoidance of doubt,
non-payment by Recipient for a Service provided by Provider in accordance with this Agreement and not the subject of a good-faith
dispute shall be deemed a breach for purposes of this Section ‎3.3.

 

3.4 Insolvency.
In the event that either Party hereto shall (a) file a petition in bankruptcy, (b) become or be declared insolvent, or become
the subject of any proceedings (not dismissed within sixty (60) days) related to its liquidation, insolvency or the appointment
of a receiver, (c) make an assignment on behalf of all or substantially all of its creditors, or (d) take any corporate action
for its winding up or dissolution, then the other party shall have the right to terminate this Agreement by providing written
notice in accordance with Section 6.6.

 

3.5 Effect of Termination.
Upon termination of this Agreement in its entirety pursuant to Section ‎3.1, all
obligations of the Parties hereto shall terminate, except for the provisions of Section 2.2, and the entirety of Sections
‎4, ‎5 and ‎6,
which shall survive any termination or expiration of this Agreement.

 

    4
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

3.6 Upon expiration or termination of this
Agreement for any reason, Provider shall promptly:

 

(a) Deliver to Recipient all documents, work
product, and other materials, whether or not complete, prepared by or on behalf of Provider in the course of performing the Services
for which Recipient has paid.

 

(b) Return to Recipient all Recipient -owned
property, equipment, or materials in its possession or control.

 

(c) Remove any Provider-owned property, equipment,
or materials located at Recipient’s locations.

 

(d) Deliver to Recipient, all documents and
tangible materials (and any copies) containing, reflecting, incorporating, or based on Recipient’s Confidential Information.

 

(e) On a pro rata basis, repay all fees and
expenses paid in advance for any Services which have not been provided.

 

(f) Permanently erase all of Recipient’s
Confidential Information from its computer systems.

 

(g) Certify in writing to Recipient that it
has complied with the requirements of this Section 3.6

 

3.7 Purchase Option.
Recipient, and/or any of its affiliates, shall have the option, in its sole discretion and at any time until December 31, 2019,
to purchase from Provider the assets used in connection with the Services listed in Exhibit A to the Agreement, and to hire
or employ any of the Provider Representatives who provide the Services listed in Exhibit A for the aggregate sum of USD
1,000. In connection with the transition of the Services to Recipient, (a) Provider shall cooperate with all reasonable requests
by Recipient in connection with the transition of the performance of the Services from Provider to Recipient and (b) Provider shall
return to Recipient or destroy all Confidential Information (as defined in Section 4.1) of Recipient that is in Provider’s
possession or under Provider’s control.

 

3.8 Force Majeure.
If Provider is prevented from or delayed in complying, either totally or in part, with any of the terms or provisions of this Agreement
by reason of fire, flood, storm, strike, lockout or other labor trouble or shortage, delays by unaffiliated suppliers or carriers,
shortages of fuel, power, raw materials or components, any law, order, proclamation, regulation, ordinance, demand, seizure or
requirement of any governmental authority, riot, civil commotion, war, rebellion, acts of terrorism, nuclear accident or other
causes beyond the reasonable control of Provider, or acts, omissions, or delays in acting by any governmental or military authority
or Recipient (each, a “Force Majeure”), then upon written notice to Recipient, the Services affected by the
Force Majeure (the “Affected Services”) and/or other requirements of this Agreement will be suspended during
the period of such Force Majeure and Provider will have no liability to Recipient or any other party in connection with such Affected
Services. If the Force Majeure in question prevails for a continuous period in excess of three months after the date on which the
Force Majeure begins, Provider shall be entitled to give notice to Recipient to terminate the Affected Services. The notice to
terminate must specify the termination date, which must be not less than ten (10) days after the date on which the notice to terminate
is given. Once a notice to terminate has been validly given, the Affected Services will terminate on the termination date set out
in the notice. Neither Party shall have any liability to the other in respect of termination of the Affected Services due to Force
Majeure, but rights and liabilities which have accrued prior to termination shall subsist.

 

    5
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

4.
Confidentiality.

 

4.1 Confidentiality.
During the term of this Agreement and thereafter, the Parties hereto shall, and shall instruct their respective representatives
to, maintain in confidence and not disclose the other Party’s financial, technical, sales, marketing, development, personnel,
and other information, records, or data, including, without limitation, customer lists, supplier lists, trade secrets, designs,
product formulations, product specifications or any other proprietary or confidential information, however recorded or preserved,
whether written or oral (any such information, “Confidential Information”). Each Party hereto shall use the
same degree of care, but no less than reasonable care, to protect the other Party’s Confidential Information as it uses to
protect its own Confidential Information of like nature. Unless otherwise authorized in any other agreement between the Parties,
any Party receiving any Confidential Information of the other Party (the “Receiving Party”) may use Confidential
Information only for the purposes of fulfilling its obligations under this Agreement (the “Permitted Purpose”).
Any Receiving Party may disclose such Confidential Information only to its representatives who have a need to know such information
for the Permitted Purpose and who have been advised of the terms of this Section 4.1 and the Receiving Party shall be liable
for any breach of these confidentiality provisions by such Persons; provided, however, that any Receiving Party may
disclose such Confidential Information to the extent such Confidential Information is required to be disclosed by law, in which
case the Receiving Party shall promptly notify, to the extent possible, the disclosing party (the “Disclosing Party”),
and take reasonable steps to assist in contesting such disclosure requirement or in protecting the Disclosing Party’s rights
prior to disclosure, and in which case the Receiving Party shall only disclose such Confidential Information that it is advised
by its counsel in writing that it is legally bound to disclose. Notwithstanding the foregoing, “Confidential Information”
shall not include any information that the Receiving Party can demonstrate: (a) was publicly known at the time of disclosure to
it, or has become publicly known through no act of the Receiving Party or its representatives in breach of this Section 4.1,
(b) was rightfully received from a third party without a duty of confidentiality, or (c) was developed by it independently without
any reliance on the Confidential Information.

 

4.2 Return of Confidential
Information. Upon demand by the Disclosing Party at any time, or upon expiration or termination of this Agreement with respect
to any Service, the Receiving Party agrees promptly to return or destroy, at the Disclosing Party’s option, all Confidential
Information received in connection with this Agreement. If such Confidential Information is destroyed, an authorized officer of
the Receiving Party shall certify to such destruction in writing.

 

    6
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

5.
Indemnification.

 

5.1 Indemnification.
Provider shall indemnify, defend, and hold harmless Recipient and its officers, directors, employees, agents, affiliates, successors,
and permitted assigns (collectively, “Indemnified Party”) against any and all losses, damages, liabilities,
deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs, or expenses of whatever kind,
including attorneys’ fees, fees and the costs of enforcing any right to indemnification under this Agreement, and the cost
of pursuing any insurance providers, incurred by Indemnified Party or awarded against Indemnified Party (collectively, “Losses”),
relating to/arising out of or resulting from any claim of a third party or Recipient arising out of or occurring in connection
with Provider’s negligence, willful misconduct, or breach of this Agreement. Provider shall not enter into any settlement
without Recipient’s or Indemnified Party’s prior written consent.

 

6.
Miscellaneous.

 

6.1 Entire Agreement.
This Agreement, the Purchase Agreement and the documents referred to herein and therein constitute the entire agreement among the
Parties and supersedes any prior understandings, agreements, or representations by or among the Parties, written or oral, to the
extent they relate in any way to the subject matter hereof.

 

6.2 Succession and
Assignment. This Agreement shall be binding upon and inure to the benefit of the Parties named herein and their respective
successors and permitted assigns. Provider may not assign, delegate or otherwise transfer either this Agreement or any of its rights,
interests, or obligations hereunder without the prior written approval of Recipient.

 

6.3 Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together
will constitute one and the same instrument. Counterparts may be delivered via facsimile and electronic mail (including portable
document format (PDF) or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com).

 

6.4 Titles and Headings.
Titles and section headings contained in this Agreement are inserted for convenience only and shall not affect in any way the meaning
or interpretation of this Agreement.

 

7.
Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in
writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when received
by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or
e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the
next Business Day if sent after normal business hours of the recipient or (d) on the third day after the date mailed, by certified
or registered mail, return receipt requested, postage prepaid. Such communications must be sent 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:

 

    7
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

	If to Provider:	[***]

	 	 
	With a copy to:	[***]

	 	 
	If to Recipient:	TELCOSTAR PTE. LTD

    6 Eu Tong Sen Street

    Tel Aviv, Israel, 6770007

    #10-15 The Central

    Singapore 059817

    Email: avi@ability.co.il

    Attention: Avi Levin
	 	 
	With a copy to:	
        McDermott Will & Emery LLP

        340 Madison Avenue

        New York, NY

        10173-1922

        Telephone: (212) 547-5541

        Facsimile: (212) 547-5444

        Email: Gemmanuel@mwe.com

        Attention: Gary Emmanuel

 

Any Party may change
the address to which notices, requests, demands, claims, and other communications hereunder are to be delivered by giving the other
Parties notice in the manner herein set forth.

 

7.1 Further Assurances.
The Parties agree (a) to furnish upon request to each other such further information, (b) to execute and deliver to each other
such other documents, and (c) to do such other acts and things, all as the other party may reasonably request for the purpose of
carrying out the intent of this Agreement and the documents referred to in this Agreement.

 

7.2 Governing Law.
This Agreement and any claim, controversy or dispute arising out of or related to this Agreement, any of the transactions contemplated
hereby and/or the interpretation and enforcement of the rights and duties of the Parties, whether arising in contract, tort, equity
or otherwise, shall be governed by and construed in accordance with the domestic laws of the State of Israel (including in respect
of the statute of limitations or other limitations period applicable to any such claim, controversy or dispute), without giving
effect to any choice or conflict of law provision or rule (whether of the State of Israel or any other jurisdiction) that would
cause the application of the laws of any jurisdiction other than the State of Israel.

 

    8
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

 

7.3 Consent to Jurisdiction.
The Parties hereby irrevocably submit any disputes under this Agreement to the exclusive jurisdiction of the courts located in
Tel-Aviv, Israel.

 

7.4 Specific Performance.
The Parties hereby agree that, in the event of breach of this Agreement, damages would be difficult, if not impossible, to ascertain
and that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance
with their specific terms or were otherwise breached. Accordingly, it is hereby agreed that the Parties shall be entitled to seek
an injunction or other equitable relief in any court of competent jurisdiction to enjoin any such breach and enforce specifically
the terms and provisions hereof, this being in addition to any other remedy or right to which they are entitled at law or in equity,
without any necessity of proving damages or any requirement for the posting of a bond or other security.

 

7.5 Amendments and
Waivers. No amendment of any provision of this Agreement shall be valid unless the same shall be in writing and signed by Recipient
and the Provider. No waiver by any Party of any provision of this Agreement or any default, misrepresentation, or breach of warranty
or covenant hereunder, whether intentional or not, shall be valid unless the same shall be in writing and signed by the Party making
such waiver nor shall such waiver be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty
or covenant hereunder or affect in any way any rights arising by virtue of any prior or subsequent such occurrence.

 

7.6 Severability.
Any term or provision of this Agreement that is held invalid or unenforceable by a court of competent jurisdiction or other competent
governmental authority in any situation in any jurisdiction shall not affect the validity or enforceability of the remaining terms
and provisions hereof or the validity or enforceability of the offending term or provision in any other situation or in any other
jurisdiction. Upon such a determination, the Parties shall negotiate in good faith to replace invalid or unenforceable provisions
with valid provisions, the economic effect of which comes as close as possible to that of the invalid or unenforceable provisions.

 

7.7 Construction.
The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question
of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties and no presumption or
burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement.
Any reference to any law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless the context
requires otherwise. The word “including” shall mean including without limitation.

 

7.8 Incorporation
of Exhibits and Disclosure Schedule. The Exhibit identified in this Agreement is incorporated herein by reference and made
a part hereof.

 

7.9 Amendment and
Restatement. This Agreement amends and restates in full the Production Contract.

 

[SIGNATURE PAGE FOLLOWS]

 

    9
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

  

IN WITNESS WHEREOF, the Parties have executed
this Services Agreement as of the date first written above.

 

	PROVIDER:	 	RECIPIENT:
	 	 	 
	[***]	 	TELCOSTAR PTE. LTD.
	 	 	 	 	 
	By:	                       	 	By:	                       
	Name:	 	 	Name:	 
	Title:	 	 	Title:	 

 

    10
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

     

    

  

EXHIBIT A

 

[***]

 

    11
[***] = Information that has been omitted and submitted separately to the Securities and Exchange Commission and for which confidential treatment has been requested.

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