Document:

EX-10.4

 Exhibit 10.4 

This is a translation into English of the final Hebrew version of the Lease Agreement. In the event of a conflict between the English and
Hebrew texts, the Hebrew text shall prevail. 
 Lease Agreement 

Made and executed in Tel Aviv on the 24th day of January, 2019 

 

			
	Between:	  	 Ogen Yielding Real Estate Ltd., Company Reg. No. 520033093

Of 3 Har Sinai St., Tel Aviv
 (Hereinafter: the
“Landlord”)
  
 The first
party;

		
	And between:	  	 AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697

Of 7 Openheimer St.
 Tel.:
08-3731541; Fax: 08-9918945
 (Hereinafter: the
“Tenant”)
  
 The second
party;

  

	1.	 Definitions and recitals  

As used in this Agreement, the following terms shall have the respective meanings set forth beside them below: 

 

	 	1.1.	 The Land – parcels 212 and 213 (previously parcels 74 and 147) in block no. 3695.

  

	 	1.2.	 The Lot – Lot No. 2002 in accordance with the Urban Building Plan (UBP) that will be created
in the Land, as part of a repeated division and consolidation procedure, and on which the Building is built, within its meaning hereunder. 

  

	 	1.3.	 The UBP – all plans that apply and/or that will apply to the Land. 

 

	 	1.4.	 The Drawings – the drawings for the construction of the Leased Premises, within their meaning, in
shell level, hereby attached as Appendix A of this Agreement. 

  

 
 2
 
 Unofficial English translation from Hebrew original 

 

	 	1.5.	 Tenant’s Drawings – the drawings for the performance of finishing works in the Leased Premises
hereby attached as Appendix C of this Agreement. 

  

	 	1.6.	 The Commercial Center – a center for different commercial purposes and that includes 2 commercial
floors and that the Landlord built on the Land and that is designated for lease and that is actually leased to different tenants. 

  

	 	1.7.	 Building F – a 10-floor building that was built above the
Commercial Center and in which different leased premises are situated, marked in the Project drawings as Building F. 

  

	 	1.8.	 Building G or the Building – a building with a commercial ground floor, a commercial lobby
floor and offices, in addition to 16 office floors, a technical roof, a bridge built above the Parking Lot, within its meaning hereunder and where the Leased Premises are situated, as defined hereunder. 

 

	 	1.9.	 The Parking Lot – a parking lot with two floors of parking basements and that is situated in the
area of the Project. 

  

	 	1.10.	 The Project – the Commercial Center, Building F, the Building and the Parking Lot, and any other
building that will be built, if any, on the Land, and known by the name of ‘Weizmann Business Park – Rehovot.’ 

  

	 	1.11.	 The Offices – an area of approximately 962 sq.m. gross that is situated and that constitutes a
certain part of floor 3 in the Building and that is marked and highlighted in red in the blueprint hereby attached as Appendix A’1 of this Agreement. 

 

	 	1.12.	 The Parking Spaces – 15 reserved Parking Spaces in the Project Parking Lot, marked and highlighted
in red in the blueprint hereby attached as Appendix A-2 of this Agreement, when the provisions set forth in the Parking Appendix, Appendix A’3 of this Agreement shall apply thereto.

  

	 	1.13.	 The Leased Premises – the Offices and the Parking Spaces, within their meaning above.

  

	 	1.14.	 Area of the Leased Premises – for the purpose of this Agreement including for the purpose of
calculating the rent that will be paid in accordance with this Agreement and for the purpose of the Management Agreement the Area of the Leased Premises is 962 sq.m. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 3
 
 Unofficial English translation from Hebrew original 

 

	 	1.15.	 Index – the consumer price index (including fruits and vegetables) published by the Central Bureau
of Statistics including the same Index even if published by another government institution and an official index superseding the same, whether or not structured on the same data as the existing Index. In the event another Index supersedes the Index
the ratio between the other Index and the substituted Index will be set by the Central Bureau of Statistics, and in the event the Central Bureau of Statistics does not set such a ratio as said the ratio between the indexes will be set by the
President of the Institute of Certified Public Accountants in Israel or whoever he appoints for the purpose of this matter and his decision shall be final and shall bind the parties. 

 

	 	1.16.	 The Basic Index – the index known on the date of signing this Agreement. 

 

	 	1.17.	 The Determining Index – the Index known on the date of paying each payment in accordance with this
Agreement, however in any event the Determining Index will not fall below the Basic Index. 

  

	 	1.18.	 The Contractor – Danya Cebus Ltd., Company Reg. No. 512569237. 

 

	 	1.19.	 The Management Agreement – the Landlord or any other company appointed by the Landlord for the
purpose of managing the Project, whether by itself and whether by a subcontractor on its behalf. 

  

	 	1.20.	 Public areas – areas in the interior parts of the Building, within its meaning above, other than
the areas of the Leased Premises and/or the other leased premises and/or areas designated for lease, including all structures, additions and modifications added to the Building from time to time and the areas of roofs, passageways, entries and
exits, areas of the Parking Lot, parking areas, service areas and rooms, interior courtyards and/or service corridors, technical areas such as electrical rooms, air-conditioning and systems, loading and
unloading areas, elevators, stairs and any other area in the area of the Building designated or that is actually used by the visitors and tenants of the Building and protected spaces and that the Landlord is entitled to handle in any manner it deems
fit without obtaining the approval of the different right holders in the Project, including all areas in the Project that are situated outside the area of the Building and that are designated to be used by the public and the visitors in the Building
including roads, access roads, pavements, gardens, signs, open parking spaces and the like. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 4
 
 Unofficial English translation from Hebrew original 

 

	 	1.21.	 “Linked,” “Linkage Differentials,” “Linked Values,” –
and any similar expression shall mean the multiplication of the relevant amount by the rate of the ratio between the Index that was recently published before making the calculation and/or the relevant payment and the Basic Index, or the rate of the
ratio between other indexes, if stated expressly. 

  

	 	1.22.	 Interest in Arrears – an interest according to the rate of the Index and with the addition of 1%
(one out of a hundred) for every 30 days, calculated on daily basis. 

  

	 	1.23.	 Maintenance Fees/Management Fees – all payments that the Tenant is obligated to pay to the
Management Company in accordance with the provisions set forth in this Agreement and/or in accordance with the provisions set forth in the Management Agreement. 

 

	 	1.24.	 Customization Works – the customization works that the Tenant will perform for the purpose of
customizing the Leased Premises for the Tenant’s specifications and requirements. 

  

	 	1.25.	 Landlord’s Account – account no. 5263 in branch no. 063 (Ayalon business) in Bank Hapoalim
Ltd., in the Landlord’s name, or any account as instructed in writing by the Landlord to the Tenant. 

  

	 	1.26.	 Quarter – January to March, April to June, July to September, October to December in each calendric
year. 

  

	 	1.27.	 Delivery Date/Lease Commencement Date – February 1, 2019. 

 

	 	1.28.	 The Architect – whoever is appointed/will be appointed by the Landlord as the Project Architect.

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 5
 
 Unofficial English translation from Hebrew original 

 

 Recitals 
  

			
	Whereas:	  	The Landlord owns the Land and is the sole possessor of the Land.
		
	And whereas:	  	The Landlord built on the Land a Project that includes, inter alia, the Commercial Center, Building F and the Parking Lot, and as of the date of signing this Agreement the construction works in the Building where the Leased
Premises are situated are still in progress;
		
	And whereas:	  	The Tenant offered to lease from the Landlord in unprotected lease the Leased Premises that are situated in the Building for the purpose of managing the Tenant’s offices, as stated in this Agreement hereunder;
		
	And whereas:	  	The Landlord wishes to lease the Leased Premises to the Tenant in unprotected lease and all for the purpose and under the conditions set out in this Agreement hereunder;

 Therefore, it is Declared, Stipulated and Agreed between the Parties as Follows: 

 

	2.	 Preamble and Appendixes  

 

	 	2.1.	 The preamble to this Agreement including Recitals and Appendixes thereof constitute an integral part hereof.

  

	 	2.2.	 The following are the appendixes of this Agreement: 

 

					
	Appendix A 1, 2	  	-	  	Blueprints of the Leased Premises (shell, offices, Parking Spaces, to the extent that there are Parking Spaces in the Leased Premises);
			
	Appendix A’3	  	-	  	Parking Appendix;
			
	Appendix B	  	-	  	Technical Specification (Landlord’s works – shell level);
			
	Appendix C	  	-	  	Tenant’s drawings – for full finish level;
			
	Appendix D	  	-	  	Authorization to debit account;
			
	Appendix E	  	-	  	Insurance Appendix and Certificates of Insurance (construction period and Term of Lease);
			
	Appendix F	  	-	  	Canceled;

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 6
 
 Unofficial English translation from Hebrew original 

 

					
			
	Appendix G	  	-	  	Bank guarantee;
			
	Appendix H	  	-	  	Promissory note;
			
	Appendix I	  	-	  	Minutes of the Tenant;
			
	Appendix I’1	  	-	  	Minutes of the Landlord;
			
	Appendix J	  	-	  	Signage Appendix;

  

	3.	 The lease  

Subject to the fulfillment of the entire fundamental undertakings of the Tenant as stated in the Agreement, the Landlord hereby undertakes to
lease the Leased Premises to the Tenant and the Tenant hereby undertakes to lease the Leased Premises from the Landlord in accordance with the provisions set forth in this Lease Agreement. 

 

	4.	 Declarations of the parties  

 

	 	4.1.	 Declarations of the Landlord  

 

	 	The	 Landlord hereby declares, warrants and affirms as follows: 

 

	 	4.1.1.	 It is the registered owner of the Land and the sole possessor of the Land, including of the Leased Premises,
and its engagement in this Agreement does not constitute an undertaking towards a third-party and the approval of any entity for the lease contemplated in this Agreement is not required. 

 

	 	4.1.2.	 There is no preclusion, under any law and/or agreement, preventing its engagement in this Agreement, and all
subject to the entire conditions, arrangements and provisions set forth in this Agreement hereunder. 

  

	 	4.1.3.	 Subject to the truthfulness of the declarations made by the Landlord in this Agreement, it is clarified that
the declarations of the Landlord shall not derogate from the obligations of the Tenant to conduct all inspections as stated in Section 4.2 hereunder under its responsibility and at its expense. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 7
 
 Unofficial English translation from Hebrew original 

 

	 	4.1.4.	 The Building was built in accordance with the law, according to building permits that were lawfully issued and
Form 4 was issued for the Building. 

  

	 	4.1.5.	 The Landlord is a company registered in Israel, no resolution regarding its liquidation was adopted and this
Agreement is signed by the authorized signatories on behalf of the Landlord, and the mere engagement in this Agreement is made in accordance with the instruments of incorporation of the Landlord. A copy of the minutes of the Landlord, including an
acknowledgement made by the legal counsel of the Landlord with respect to the validity of the said resolution are hereby attached as Appendix I’1. 

 

	 	4.1.6.	 Its rights in the Leased Premises are free from any third-party rights, including a pledge and/or a charge
and/or an attachment and/or an administrative and/or a judicial order, and the Landlord shall be solely entitled to lease the Leased Premises and receive the rent in accordance with this Agreement during the entire Term of Lease as stated in this
Agreement. 

  

	 	4.1.7.	 To the best of its knowledge there is no legal action of any kind that is pending and that might cause the
Landlord to fail in the fulfillment of its undertakings in accordance with this Agreement. 

  

	 	4.1.8.	 The Landlord undertakes not to permit the placement of cellular antenna for commercial use (except for
reception amplifiers) in the Building and in all other areas in the Project. 

  

	 	4.1.9.	 This Section (including sub-sections thereof) is a fundamental and
basic condition in this Agreement. 

  

	 	4.2.	 Declarations of the Tenant  

The Tenant hereby declares, warrants and affirms as follows: 
  

	 	4.2.1	 It actually saw and inspected independently the Land and the area where the Land is situated and saw and
inspected the general drawings for the construction of the Project including the Building, in their condition at the time of signing this Agreement and in general the drawings for the construction of the Leased Premises

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 8
 
 Unofficial English translation from Hebrew original 

 

	 	
and the location of the Leased Premises in the Building, including the performance of inspections with respect to the zoning classification of the Building including the Leased Premises, and the
options of use of the Leased Premises and that it or anyone acting on its behalf received the full information they requested; and after conducting all the inspections as said and subject to the truthfulness of the Landlord’s declarations in
this Agreement it found all of the aforesaid satisfying and in compliance with its requirements and specifications and it hereby waives any claims regarding a non-conformance in connection with any of the
aforesaid matters, except for claims regarding a defect and/or failure and/or a latent defect and/or that the Landlord knew and that the Landlord did not disclose to the Tenant. 

 

	 	4.2.2	 It acknowledges that after delivery of possession in the Leased Premises the construction works in the Project
will continue, including the works for the purpose of completing and/or customizing areas in the Building for different tenants and/or the construction of other structures on the Land and/or development works in the Land and it declares that it
shall not have any claims and/or demands and/or suits against the Landlord in connection therewith, and provided that all of the following conditions are satisfied cumulatively: (1) the works shall not constitute an unreasonable nuisance
preventing its use of the Leased Premises; (2) the proper access to and from the Leased Premises shall be maintained at all times. This condition is a fundamental condition in this Agreement. 

 

	 	4.2.4	 The Tenant acknowledges that different businesses will operate in the Project and the Building, including
commercial units and areas, in a mix that will be decided by the Landlord and at its sole discretion. The Tenant waives in advance any claim regarding the type of the businesses conducted in the different leased premises in general, and in the areas
of the Building and the commercial areas in particular, including with respect to their nature and standard, and any claim regarding the scope of their activities, their opening days and hours, entry and exit arrangements to and from them and to the
Commercial Center, the Parking Lot and the Building, and provided that that this shall not constitute a nuisance preventing the use of the Tenant of the Leased Premises from 08:00-19:00. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 9
 
 Unofficial English translation from Hebrew original 

 

	 	4.2.5	 It acknowledges that the Landlord shall be entitled to limit and/or prevent completely the operation of a
business or businesses for certain purposes in the Project, in the Commercial Center, in Building F and in the Building and/or grant exclusivity to a certain business or businesses from time to time, and it is aware that the Landlord shall be
entitled to operate in the Commercial Center, in Building F and in the Building a number of businesses of the same type and for the same purpose, at the sole discretion of the Landlord and without any limitations, and provided that the nature of the
Building as an office building will not be affected thereby and that the commercial use will not affect the reasonable use of the Tenant in the Leased Premises. Subject to the aforesaid provisions, the Tenant shall be estopped from arguing and it
hereby waives irrevocably any claim and/or demand and/or suit against the Landlord for the purpose of this matter. 

  

	 	4.2.6	 There is no preclusion preventing its engagement in this Agreement and the full and timely fulfillment of its
entire undertakings in accordance with this Agreement. 

  

	 	4.2.7	 It leases the Leased Premises based on its own inspections and/or the inspections conducted by anyone acting on
its behalf and it does not rely on any assurance, representation or an undertaking made by the Landlord and/or anyone acting on its behalf, except for the declarations and undertakings of the Landlord as stated in this Agreement.

  

	 	4.2.8.	 It adopted a resolution in accordance with the provisions set forth in any law and in accordance with its
instruments of incorporation confirming its engagement in the transaction contemplated in this Agreement for the purpose of leasing the Leased Premises subject matter of this Agreement and the fulfillment of its entire undertakings in accordance
with this Agreement. A copy of the minutes of the Tenant, including an acknowledgement by the legal counsel of the Tenant confirming the validity of the said resolution is hereby attached as Appendix I. The minutes of the Tenant,
together with a “true and certified” copy of the certificate of incorporation of the Tenant will be delivered to the Landlord at the time of signing this Agreement. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 10
 
 Unofficial English translation from Hebrew original 

 

	 	4.2.9	 The Tenant and/or anyone acting on its behalf will perform the Customization Works in accordance with the
provisions set forth in any law. Breach of this Section shall constitute a fundamental breach of this Agreement. 

  

	 	4.2.10	 This Section (including all sub-sections thereof) is a fundamental and
material condition in this Agreement. 

  

	5.	 Area of the Leased Premises for the purpose of calculating the rent  

The “Area of the Leased Premises” or the “Area Chargeable with Rent” shall be the following: 

 

	 	5.1.	 The area of the offices is approximately 962 sq.m. (gross exterior dimensions, with the addition of the
relative part in the common property designated for the use of all or part of the users in the Building), and all as stated in the blueprint hereby attached as Appendix A’1 of this Agreement. 

The total area as said constitutes and shall be referred in this Agreement as “Area Chargeable with Rent.” It is clarified
that the area stated in this Section above (962 sq.m.) which is the area chargeable with rent, the management fees and all other payments that the Tenant owes in accordance with this Agreement, includes an additional area that will be considered as
an integral part of the Area of the Leased Premises for all intents and purposes (and that constitutes part of the common property in the Building). 
  

	 	5.2.	 To the extent that there are any deviations or changes with relation to the Areas of the Leased Premises and
the information stated in this Agreement and the records kept by the municipality, the aforesaid shall not derogate from any of the amounts owed by the Tenant in accordance with this Agreement and the Tenant shall have no claim and/or demand and/or
suit against the Landlord in connection with the said deviations and/or changes as said. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 11
 
 Unofficial English translation from Hebrew original 

 

	6.	 Purpose of Lease  

 

	 	6.1.	 The Tenant declares and warrants that it leases the Leased Premises solely for the purpose of operating
research and development laboratories for pharmaceutical products and offices, and not for any other purpose (this purpose as said shall be referred hereinafter: the “Purpose of Lease”). 

Breach of the provisions set forth in this Section 6.1 above shall constitute a fundamental breach of this Agreement. 

 

	 	6.2.	 The Tenant undertakes to operate its business in the Leased Premises solely in accordance with the Purpose of
Lease, without any deviations and without deviating in any manner from the Purpose of Lease. Any modification or expansion of the Purpose of Lease are subject to the prior and written approval of the Landlord and the Landlord shall be entitled not
to perform any modification or expansion as said, for any reason and at the reasonable discretion of the Landlord. 

Breach of the provisions set forth in this Section 6.2 shall constitute a fundamental breach of the Agreement. 

 

	 	6.3.	 Without derogating from the generality of the aforesaid, the Tenant confirms that it is aware that the
operation of the Leased Premises while changing or deviating from the Purpose of Lease, except for being a fundamental breach of this Agreement as stated above, might result in breach of lease agreements and/or other authorization agreements made
between the Landlord and other tenants in the Commercial Center and/or in Building F and/or in the Building and cause other damages to the Landlord, including damages to the reputation and to the good name of the Landlord and therefore the Landlord
may obtain, in any circumstances in which the business in the Leased Premises is managed in deviation from or in violation of the Purpose of Lease, an injunction against such operation as said, inter alia. The Tenant shall indemnify and
compensate the Landlord, within a reasonable time taking into consideration the circumstances, in respect of any damage and/or expense and/or loss caused to the Landlord as a result of a suit brought by a tenant and/or an authorized party and/or any
other damage as said (hereinafter in this Section: “Other Damage”) and all without derogating from any relief and/or remedy and/or right granted to the Landlord in accordance with the Agreement and/or in accordance with the

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 12
 
 Unofficial English translation from Hebrew original 

 

	 	
provisions set forth in any law, and all on the condition that the Landlord notified the Tenant about such a suit as said within a reasonable time as of the day the Landlord learned about its
existence, and on the condition that the Landlord afforded to the Tenant an opportunity to defend against such a suit as said, whether by its addition as a third-party to the said suit, whether by its inclusion in the defense of the Landlord against
the suit, whether by affording an opportunity to the Tenant to defend against the suit on behalf of the Landlord and all at the discretion of the Landlord. 

  

	 	6.4.	 The Tenant declares and warrants that it possesses the know-how,
experience and capability to operate its business as stated in the Purpose of Lease. 

  

	 	6.5.	 The Tenant agrees and declares that it is aware that the Landlord might – following its decision and at
its sole discretion – grant exclusivity and/or exclusive use for certain businesses operated in the Commercial Center and/or in Building F and/or in the Building and/or act for the purpose of preventing the operation of certain businesses and
create a balance and/or a business mix in any manner that the Landlord deems fit, at its sole discretion, in connection with the types of businesses operating in the Commercial Center, in Building F and in the Building, and provided that the
Building will remain in essence an office building. 

  

	7.	 The Term of Lease and the additional terms of lease (option)  

The First Term of Lease – 
  

	 	7.1.	 The First Term of Lease in accordance with this Agreement is for a period of 63 months (5 years and 3
months) and shall commence on the delivery of possession date in the Leased Premises to the Tenant as stated in Section 12.1 hereunder, i.e. on February 1, 2019 and shall expire on
April 30, 2024 (hereinafter: the “First Term of Lease”). 

  

	 	7.2.	 The Second Term of Lease – the Tenant is hereby granted an option to extend the Term of
Lease, beyond the First Term of Lease, by an additional Term of Lease of 60 months (5 years) that shall commence upon expiration of the First Term of Lease (hereinafter: the “Second Term of Lease”). 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 13
 
 Unofficial English translation from Hebrew original 

 

	 	7.3.	 Extension of the Term of Lease by the Second Term of Lease – upon expiration of the First
Term of Lease the Term of Lease shall be extended in the manner set out hereunder for the entire Second Term of Lease, which is subsequent to the First Term of Lease, as stated above, and under the conditions set out in this Section, and solely upon
the fulfillment of the entire cumulative conditions as follows: 

  

	 	7.3.1.	 The Tenant did not commit a fundamental breach of this Agreement and the said breach was not cured after
receiving a written notice at least 14 days in advance. 

  

	 	7.3.2.	 No litigation is held between the parties in court and/or arbitration proceedings. 

 

	 	7.3.3.	 The Tenant will deliver written notice to the Landlord, which notice shall be received by the Landlord at least
6 (six) months prior to the expiration of the First Term of Lease, regarding its wish to extend the Term of Lease. 

  

	 	7.3.4.	 In the event the Term of Lease was extended as stated above, the entire provisions set forth in this Agreement
shall fully apply also during the relevant Term of Lease, and the additional and relevant Term of Lease shall be deemed as part of the Term of Lease for all intents and purposes, except for the Rent to which the provisions of Section 8
hereunder shall apply. For the avoidance of doubt, it is clarified that the extension of the Agreement in accordance with the provisions set forth above will cause an automatic extension of the Term of Lease and a corresponding and identical
extension of the Management Agreement. 

  

	 	7.4.	 In the event the First Term of Lease was not extended in accordance with the provisions set forth above, this
Agreement shall be terminated upon expiration of the relevant Term of Lease, as the case may be, and the Tenant shall have no suit and/or claim and/or demand against the Landlord regarding the termination of the Term of Lease as said, and the Tenant
shall vacate the Leased Premises upon expiration of the relevant Term of Lease in accordance with the provisions set forth in this Agreement. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 14
 
 Unofficial English translation from Hebrew original 

 

	 	7.5.	 The Tenant shall not be entitled to terminate the lease and/or vacate the Leased Premises prior to the
expiration of the Term of Lease and/or prior to the expiration of the relevant Term of Lease that was extended or that entered into force however only in accordance with the provisions set forth in this Agreement. If, notwithstanding the
aforementioned, the Tenant vacates the Leased Premises prior to the expiration of the Term of Lease as said for any reason, and without being entitled explicitly to act in the said manner in accordance with the provisions set forth in this
Agreement, the entire undertakings of the Tenant as stated in the Agreement and Appendixes thereof shall continue to apply and the Tenant shall be obligated among other things (but not limited to), to pay on time to the Landlord and/or to the
Management Company and/or to any third-party, as the case may be, inter alia, all payments of any kind applicable in accordance with the Agreement including Appendixes thereof – until the expiration of the relevant Term of Lease that was
extended or that entered into force or until a substitute tenant is found for the Leased Premises in accordance with the provisions set forth in Section 20.1 hereunder, whichever is earlier, and subject to the statutory obligation of the
Landlord to mitigate its losses. 

  

	 	7.6.	 For the avoidance of doubt it is clarified that the said in Section 7.5 above shall not derogate from the
right of the Landlord in accordance with the Agreement and/or in accordance with the provisions set forth in any law including, and without derogating from the generality of the aforesaid, its right to order the Tenant to vacate the Leased Premises.

  

	 	7.7.	 For the avoidance of doubt it is clarified that upon expiration of the Second Term of Lease (in the event the
Term of Lease entered into force in accordance with the provisions set forth in this Agreement) this Agreement shall be terminated and the Tenant shall have no right and/or option to extend this Agreement by an additional term, and the Tenant shall
have no suits and/or demands and/or claims against the Landlord in respect of termination of the Agreement as said and the Tenant shall vacate the Leased Premises in accordance with the provisions set forth in this Agreement hereunder.

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 15
 
 Unofficial English translation from Hebrew original 

 

	8.	 Rent Fees  

The Tenant will pay to the Landlord the “Total Rent” within its meaning hereunder for the entire Term of Lease/Term of Lease,
as detailed in section 7 herein, and all in accordance with the following provisions: 
 It is clarified that the “Total Rent” is
the amount of the “Basic Rent” and the “Basic Customization Costs” within the meaning of these terms in Section 8.13 and 8.14 hereunder. 

Rent for the office areas 
  

	 	8.1.	 During the First Term of Lease – in respect of each month during the First Term of Lease the Tenant
will pay to the Landlord total monthly Rent in the amount of NIS 78.4 (in words: seventy-eight new Israeli shekels and forty agora) for each 1 sq.m. of the Area of the Leased Premises multiplied by the “Area Chargeable with
Rent” as stated in Section 5.1 above (hereinafter: the “Total Rent”). 

  

	 	8.2.	 The Total Rent for the Second Term of Lease will be updated and will total the amount obtained from the
Total amount of the Rent according to its rate in the last full month of the First Term of Lease in accordance with the provisions set forth in this Agreement with the addition of linkage to the Index (hereinafter: the “Linked
Rent”) with the addition of 7% (seven percent) from the said Linked Rent (hereinafter: the “Total Rent during the Second Term of Lease”). 

 

	 	8.3.	 The Total Rent set out in this Agreement will be linked to the Basic Index for the entire terms of lease and
linkage differentials to the Index shall be added to the Rent. 

  

	 	8.4.	 The said linkage differentials will be calculated for all intents and purposes as part of the Rent. The Rent,
with the addition of the linkage differentials, shall be referred hereinabove and hereinafter: the “Rent.” 

  

	 	8.5.	 Rent for the Parking Spaces of the Leased Premises – the Rent and the Management Fees in
respect of the Parking Spaces in the Leased Premises shall be in the amount of NIS 475 in respect of each single Parking Space in addition to VAT and in addition to linkage to the Basic Index. For the avoidance of doubt it is clarified that the Rent
in respect of a Parking Space also includes the Management Fees in respect of the Parking Space however not the municipal taxes for the Parking Spaces that the Tenant will pay directly to the municipality, and not the signage costs that will be paid
directly to the Landlord (in the amount of NIS 100 for each single sign). 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 16
 
 Unofficial English translation from Hebrew original 

 

	 	8.6.	 The Tenant will pay to the Landlord in advance the Rent for each quarter (3 calendric months) during the
Term of Lease, on the first business day of each quarter. “Business day” shall mean – each of the weekdays Sun. – Thurs. in which the banks in Israel actually conduct business. 

 

	 	8.7.	 It is clarified that the delivery and/or the deposit of a check and/or of any note with the Landlord and/or the
Management Company and/or the provision of the authorization to debit account shall not be deemed in any manner as payment however only after the moneys and/or the payments as said are actually cashed. 

 

	 	8.8.	 Without derogating from any other provision in this Agreement, the Tenant undertakes to pay the Rent to the
Landlord and the Management Fees to the Landlord or the Management Company and all other payments of any kind imposed on the Tenant in accordance with the Agreement and/or in accordance with the provisions set forth in any law to the Landlord and/or
to the relevant entity as the case may be. 

  

	 	8.9.	 It is hereby agreed that the Tenant shall be obligated to pay to the Landlord the Interest in Arrears, within
its meaning above, in respect of the amount for payment as said in respect of any payment that is not paid on the date set for its payment in this Agreement, and calculated as of the date of the required payment as said and until the actual payment
date – in addition to and without derogating from any relief and/or remedy and/or right granted to the Landlord in accordance with the Agreement and/or in accordance with the provisions set forth in any law, after delivery of written notice by
the Landlord. 

  

	 	8.10.	 The Landlord hereby gives to the Tenant an irrevocable instruction to pay the Rent to the Landlord’s
Account, as stated in Section 1.24 above, by an authorization to debit account as stated in Section 8.11 hereunder. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 17
 
 Unofficial English translation from Hebrew original 

 

	 	8.11.	 Payments arrangement by the authorization to debit account – the Tenant hereby grants authorization
to the Landlord and the Landlord hereby receives the instruction of the Tenant to debit the Tenant’s account for the amount of the Rent and the Management Fees and any other payment that the Tenant undertook to pay in this Lease Agreement. At
the time of signing this Agreement the Tenant will sign an authorization letter to the bank in the form hereby attached as Appendix D of this Agreement for the purpose of debiting the Tenant’s account in the bank (hereinafter: the
“Authorization Letter”). The Tenant undertakes not to cancel or modify the Authorization Letter or any of its instructions prior to the expiration of the Term of Lease, or prior to the date of returning possession in the Leased
Premises to the Landlord, whichever is later. This condition is a material and fundamental condition in this Agreement. 

  

	 	8.12.	 “Allocation transaction” – it is clarified that the lease contemplated in this Agreement
is an “allocation” transaction. The Area of Leased Premises is allocated to the Tenant in “shell” condition (as stated in Appendix B) and the Tenant undertakes to perform the Customization Works in the Leased Premises by itself
and at its expense and according to its requirements and specifications. Subject to the performance of the Customization Works by the Tenant, the Landlord undertakes to participate in the costs of the basic customizations by payment of participation
fees, on the dates and in the following rates:  

  

	 	8.12.1.	 25% of the participation fees – at the end of the first month of the customizations period.

  

	 	8.12.2.	 30% of the participation fees – at the end of the second month of the customizations period.

  

	 	8.12.3.	 25% of the participation fees – at the end of the third month of the customizations period.

  

	 	8.12.4.	 10% of the participation fees – after obtaining the certificate of the National Fire and Rescue Authority.

  

	 	8.12.5.	 10% of the participation fees – upon completion of the Customization Works by the Tenant, obtaining as-made plans (including the plans in PDF and DWG files), facility manual and all certificates of occupancy for the Leased Premises. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 18
 
 Unofficial English translation from Hebrew original 

 

 Payment shall be made subject to the presentation of invoices of the contractors on behalf
of the Tenant. It is clarified that if, on the date stated above, works were performed for an amount that is lower from the percentage of the participation fees that the Landlord is required to pay, then the unpaid amount will be added to the next
amount of payment, and so on (for example and for the sake of illustration: in the event that, at the end of the first month 10% of the participation fees were paid, at the end of the second month the Tenant shall be entitled to 45% of the
participation fees, assuming that the works that total this amount were performed, and if such works were not performed – the payment for the works that were not yet performed will be delayed until the next payment date, and so on and so
forth). 
 For the avoidance of doubt, it is clarified that the amount of the participation fees will be paid only for the performance of
the construction works that are performed in the shell of the Leased Premises and in the utilities of the Leased Premises (such as flooring, partitions, paint works, ceilings, doors, electricity,
air-conditioning, plumbing utilities etc.). 
 For the avoidance of doubt, it is clarified that the
amount of the participation fees that the Landlord undertakes to pay to the Tenant is NIS 2,000/1 sq.m. in addition VAT multiplied by the area chargeable with the Rent, within its meaning in Section 5.1 above. 

It is agreed that in the event there is a difference of opinion between the parties regarding the payment of the participation fees or any
part thereof, the Landlord undertakes to pay to the Tenant the undisputed amount, and with respect to the disputed amount – the parties will approach Mr. Yossi Shalev or Mr. Eddie Koren, as decided by the parties (hereinafter: the
“Agreed Arbitrator”) for the purpose of deciding about the disputed amount, and it is agreed that the decision of the Agreed Arbitrator shall bind the parties to this Agreement. In the event the Agreed Arbitrator decides that the
Landlord is obligated to pay to the Tenant, the Landlord undertakes to pay the amount set by the Agreed Arbitrator to the Tenant in 30 days as of the date of receiving the decision of the Agreed Arbitrator. Both parties to this Agreement will pay
the fees to the Agreed Arbitrator, in equal parts between them. In the event Mr. Yossi Shalev and Mr. Eddie Koren are unable to serve as an Agreed Arbitrator, the parties to this Agreement will request from the Chairman of Association of
Engineers, Architects and Graduates in Technological Sciences in Israel to appoint another Agreed Arbitrator. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 19
 
 Unofficial English translation from Hebrew original 

 

 Breach of the provisions set forth in this Section 8.12 shall constitute a fundamental
breach of the Agreement. 
 The ‘Basic Monthly Rent’ in respect of the shell of the Leased Premises is in the amount of NIS
57/1 sq.m. in addition to VAT, multiplied by the area chargeable with Rent set out in Section 5.1 above (hereinabove and hereinafter: the “Basic Rent”). 

Basic cost of customizations – the addition to the Basic Monthly Rent that the Tenant will pay in respect of the monthly cost of
customizations set out between the parties as stated in this Agreement is NIS 21.4/1 sq.m. in addition to VAT, multiplied by the area chargeable with Rent set out in Section 5.1 above (hereinafter: the “Basic Customizations
Cost”). 
  

	 	8.13.	 The Basic Customizations Cost was set according to the agreed key which is an addition of NIS 1.07/1 sq.m. for
every NIS 100/1 sq.m. that the Landlord invested in the customizations of the Leased Premises for the Tenant’s requirements and specifications. 

  

	 	8.14.	 It is clarified and emphasized that the Total Rent set out for the purpose of this Agreement, including the
investment made by the Landlord in the costs of the customizations of the Leased Premises for the Tenant’s requirements and specifications in the amount of NIS 2,000 per 1 sq.m. gross as stated in this Agreement were set by the Landlord based
on the Tenant’s notice that it intends to realize the entire First Term of Lease set out in this Agreement. 

  

	 	8.15.	 For the avoidance of doubt, it is agreed that the participation amount is paid to the Tenant based on the
assumption that the Tenant will stay in the Leased Premises at least 5 years (at least until the expiration of the First Term of Lease). It is further clarified that in the event the Tenant vacates the Leased Premises after 5 years (upon expiration
of the First Term of Lease) the Tenant shall not be obligated to pay to the Landlord any returns for the participation fees. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 20
 
 Unofficial English translation from Hebrew original 

 

	 	8.16.	 The entire collateral set out in this Agreement will also serve as collateral for the purpose of securing the
return of the relative customization costs to the Landlord. The Landlord shall be entitled to realize the collaterals in its possession, inter alia, also for the purpose of collecting overdue Rent (and that also include a component for the
customization costs) from the Tenant and in accordance with the provisions set forth in this Agreement. For the avoidance of doubt it is clarified that in any event and under any scenario in accordance with this Agreement, the customizations that
were performed in the Leased Premises, whether within the framework of the finishing works for shell level and whether within the framework of the performance of the Tenant’s Customization Works and that are affixed to the Leased Premises,
shall constitute the sole property and property of the Landlord and the Tenant shall not be entitled to any indemnity and/or compensation and/or payment of any kind and shall not dismantle or take possession therein and/or property and/or any right
of any kind. This condition is a fundamental and basic condition in this Agreement. The aforesaid shall not derogate from the arguments of the Tenant in the event this Agreement is terminated earlier due to the fault of the Tenant and/or anyone
acting on its behalf. 

  

	 	8.17.	 Exemption from the Rent for the customizations period and the exemption period –
notwithstanding anything to the contrary herein, the Tenant shall not pay to the Landlord Rent for the Leased Premises (and for the Parking Spaces that will be delivered to the Tenant upon expiration of the exemption period and as of this date
henceforth the Rent and the other payments shall be made in respect whereof) in respect of the Term of Lease of 90 days commencing on the Delivery Date and during which the Tenant performs Customization Works in the Leased Premises, however the
other payments in connection with the Leased Premises shall apply to the Tenant during the exemption period (including Management Fees, municipal taxes and all other mandatory payments stemming from the possession and the use of the Leased
Premises). Without derogating from the other provisions set forth in this Agreement, it is agreed that against the waiver of the Landlord of the Rent during the exemption period as said, upon expiration of the Term of Lease or upon the termination
of this Agreement for any reason, subject to the provisions of Section 19 hereunder, all improvements and customizations that are permanently affixed to the Leased Premises and that are performed by the Tenant or by anyone acting on its behalf
shall become the exclusive and sole possession and property of the Landlord. For the avoidance of doubt it is clarified that upon expiration of the exemption period the exemption will be canceled, and the Tenant will pay to the Landlord all payments
the Tenant is obligated to pay in accordance with the 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 21
 
 Unofficial English translation from Hebrew original 

 

	 	
provisions set forth in this Agreement, including the Rent in accordance with the provisions set forth in this Agreement, unless there was a delay in the completion date of the Customization
Works in respect of an act and/or omission of the Landlord and/or the Management Company and/or anyone acting on their behalf, and in such circumstances as said this shall result in a corresponding delay in the dates of the payments made in
accordance with this Agreement. 

  

	 	8.18.	 It is agreed that the Tenant shall be responsible for building the wall that will separate the Area of the
Leased Premises and the other areas in the floor and for building the wall that will create the connecting corridor (as marked in the blueprint) and the leveling of the floor to 3cm in areas where this is required, however the performance costs of
these works shall apply to the Landlord and shall be paid to the Tenant in 7 days as of the date of receiving an invoice, and provided that the works are actually performed. It is clarified that the Landlord shall incur the costs of leveling works
for the floor up to the amount of NIS 50,000. 

  

	 	8.19.	 Breach of any of the provisions set forth in this Section above including all
sub-sections thereof shall be deemed as a fundamental breach of this Agreement. 

  

	9.	 Value added tax  

Statutory VAT shall be added to all the amounts stated hereinabove and hereunder. The Tenant shall pay VAT for each of the payments that the
Tenant is obligated to pay the Landlord in accordance with the provisions set forth in this Agreement according to its statutory rate from time to time and/or any other tax superseding the same and/or any tax that, according to the law imposing it,
will apply to any of the payments that the Tenant is obligated to pay in accordance with the provisions set forth in this Agreement. At the time and against the payment of the VAT the Landlord will issue an invoice in respect of the Tenant’s
payments. In addition, the Landlord will present to the Tenant each year a certificate regarding withholding of tax at source and a certificate regarding keeping books of account. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 22
 
 Unofficial English translation from Hebrew original 

 

	10.	 Additional payments  

During the entire Term of Lease the Tenant will pay, in addition to all other payments applicable to the Tenant in accordance with this
Agreement, all payments, levies, municipal taxes, taxes and any other mandatory payments of any kind, municipal, governmental or other, including, and without derogating from the generality of the aforesaid any fees, licensing fees and licenses of
any kind relating to the Leased Premises and/or to the business conducted therein and/or to their operation and/or their possession and any other payment that naturally applies and/or that applies in accordance with the law to a tenant and/or a
possessor and/or a user and/or the business conducted by the Tenant in the Leased Premises and/or the operator of a business in a real estate property, by itself and under its responsibility, and all to the extent required. In addition, the parties
agree that any taxes or levies in connection with the operation and/or the possession of the Leased Premises (as opposed to ownership of the Leased Premises) or in connection with the Rent that will be imposed in the future and that are not imposed
at the time of signing this Agreement will be paid by the Tenant and all in the manner described above. 
 The Landlord shall be responsible
for paying all payments, levies, municipal taxes, taxes and mandatory payments of any kind, whether municipal, governmental and/or other, including, and without derogating from the generality of the aforesaid any fees, licensing fees and licenses of
any kind, whether existing today and whether existing in the future, and that apply in accordance with the law to owners of properties (such as betterment levy, development levy etc.). 

Without derogating from the generality of the aforesaid, and in addition to any other payment applicable in accordance with the Agreement, the
Tenant will pay make full and timely payment on the dates set out in the Agreement and/or in the law (as the case may be) by itself all of the following payments: 
  

	 	10.1.	 All payments for the supply of water, electricity, telephone, gas, municipal taxes, business tax, signage tax
or any other expense related to the use and/or the operation of the Leased Premises. 

 It is clarified that the Tenant
undertakes to deliver written notice to the municipality and to the other entities and/or the proper authorities regarding the delivery and the receipt of possession in the Leased Premises, as of the first date in which the Leased Premises was
delivered to the Tenant and cause its registration in the municipality records as a possessor in the Leased Premises. In addition, the Tenant undertakes to act for the purpose transferring the name of the possessor, the debtor and the recipient in
respect of the water and/or electricity and/or municipal taxes and/or gas bills (if required) to the Tenant’s name and the Tenant undertakes to return the name of the payer in all the said bills to the name of the Landlord and/or anyone acting
on its behalf (and in accordance with the instructions of the Landlord) upon expiration of the Term of Lease, and all in cooperation with the Landlord, to the extent required. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 23
 
 Unofficial English translation from Hebrew original 

 

 As of the Lease Commencement Date or as of the date of delivery of possession in the Leased
Premises, whichever is earlier, the Tenant undertakes not to request from the municipality to use an “exemption from municipal taxes in respect of a vacant property” during the entire Term of Lease and/or the extended Terms of Lease, as
the case may be. To the extent that the Tenant breaches this undertaking, the Tenant undertakes to return to the Landlord, on the date of obtaining the extension, an amount equal to the amount of the municipal taxes for which the Tenant was granted
an exemption in connection therewith. This undertaking is a fundamental undertaking made by the Tenant. Notwithstanding the said it is agreed that the Tenant shall be entitled to request from the municipality to obtain an exemption from municipal
taxes in respect of a property undergoing renovations. 
  

	 	10.2.	 All payments made to the Landlord and/or the Management Company, as the case may be, in respect of the
maintenance and the management of the Project, including of the Building, as stated in Section 14 hereunder. 

  

	 	10.3.	 All payments, fees, levies and taxes of any kind that apply to the management of the business of the Tenant in
the Leased Premises including, and without derogating from the generality of the aforesaid, licensing fees for the Tenant’s business. 

  

	 	10.4.	 All expenses in respect of the installation of a telephone line and/or other communication systems in the
Leased Premises and their use; it is clarified that the telephone will be installed by a domestic operator with a proper license and all under the responsibility and at the sole expense of the Tenant and following coordination with the Landlord
and/or the Management Company and the telephone will be registered solely in the name of the Tenant and under its sole responsibility. 

  

	 	10.5.	 The Tenant undertakes to present within a reasonable period of time to the Landlord and/or the Management
Company certificates confirming that the Tenant has no debts in respect of the payments that were made as said and/or receipts in respect of the payments that were made as said (in the event it is impossible to obtain a certificate from the relevant
authority) according to the written demand made by any thereof. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 24
 
 Unofficial English translation from Hebrew original 

 

	 	10.6.	 The Landlord shall be entitled (however not obligated, under any circumstances) to pay instead of, on account
of and in favor of the Tenant any of the payments the Tenant is obligated to pay and that the Tenant refrained from paying for any reason to pay such payments in full and/or on time, after delivering a demand 14 days in advance and in writing as a
minimum demanding from the Tenant to make such payment as said and the Tenant did not act in the said manner. In the event the Landlord paid any payment as said, the Tenant shall be obligated to return to the Landlord any amount as said, immediately
upon receiving the Landlord’s first demand as said, without derogating from any relief and/or remedy and/or right granted to the Landlord in accordance with the provisions set forth in this Agreement and/or in accordance with the provisions set
forth in any law. Without derogating from the foregoing, and without derogating from any relief and/or remedy and/or right granted to the Landlord in accordance with the Agreement and/or in accordance with the provisions set forth in any law, it is
agreed and emphasized that any amount that the Landlord will pay in lieu of the Tenant as stated above shall carry Interest in Arrears as of its payment date by the Landlord and until the actual date the payment is returned. 

 

	11.	 Construction works in the Building and in the Leased Premises  

 

	 	11.1.	 Works in the Leased Premises  

 

	 	11.1.1.	 Until the Delivery Date the Landlord will complete in the Leased Premises and will perform in the Leased
Premises the works that the Landlord is obligated to perform, as stated in Appendix B (in shell level). The Landlord shall be entitled to perform construction works in the Building, together with the Tenant’s Customization Works and provided
that this shall not cause an unreasonable disturbance to the Tenant in the performance of the Customization Works. The Tenant on its behalf undertakes to avoid causing any disturbance to the Landlord in the performance of the Landlord’s works.

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 25
 
 Unofficial English translation from Hebrew original 

 

 Subject to the approval of the plans for the Customization Works in accordance with the
provisions set forth in this Agreement, the provision of collaterals, certificates of insurance for the performance of the works, a signed Banks’ Clearing House (Masav) letter, the Landlord will allow the Tenant to perform the Customization
Works by itself and at the Tenant’s expense, on the Delivery Date. The Tenant will prepare the Leased Premises for the purpose of their opening for business and will perform in the Leased Premises, at its expense and under its sole
responsibility, all works, crafts and installations that the Tenant is obligated to perform as stated in Appendix C (hereinafter collectively: the “Tenant’s Works”) after 3 months as of the Delivery Date. It is clarified that
upon expiration of the period set out in this Section, the Tenant shall be obligated to start paying the Rent and the other payments applicable to the Tenant in accordance with the provisions set forth in this Agreement, even if the Customization
Works are not completed until that date. 
  

	 	11.1.2.	 It is clarified that during the period of the Customization Works the Landlord shall be entitled, during the
performance of the Tenant’s Customization Works, to perform by different contractors and craftsmen different construction and customization works in the Building, to the extent required, and all when the said works of the Landlord will not
delay and/or unreasonably disturb the performance of the Tenant’s Works. For the avoidance of doubt, it is clarified that in any event the Landlord’s works will not be performed in the Area of the Leased Premises after the Delivery Date.

  

	 	11.1.3.	 The Tenant will act for the purpose of delivering for the Landlord’s inspection, until February 28,
2019, technical specifications and work plans of the Customization Works in the Leased Premises. The Landlord shall be entitled to approve the said plans and technical specifications, revise and/or make amendments therein, or reject them, and will
provide the reasons for this rejection in writing, in 14 days as of the date of their receipt. In the event the specifications and the plans were not approved, in whole or in part, the Tenant will submit to the Landlord new plans and technical
specifications, according to the instructions of the Landlord and/or 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 26
 
 Unofficial English translation from Hebrew original 

 

	 	
anyone acting on its behalf, and the Landlord will respond to the said plans in 14 days as of the date of their receipt. It is agreed that any delay in the approval of the plans by the Landlord
and/or the comments submitted by the Landlord for the purpose amending the plans beyond the periods of time stated in this Section shall entitle the Tenant to an extension for the completion of the exemption period for a period that will correspond
to number of days of the delay. 

  

	 	11.1.4.	 The plans and the technical specifications as said – after their approval by the Landlord (if approved)
and subject to the modifications that are made or that are demanded by the Landlord – will be attached as Appendix C – and shall constitute an integral part thereof as of that date. 

The following provisions shall apply to the performance of the Tenant’s Works: 

 

	 	11.1.5.	 After the Tenant’s Works are approved in writing by the Landlord in accordance with the provisions set
forth in this Agreement, the Tenant will perform the Tenant’s Works in a manner that will not be in violation of the provisions set forth in any law. The access roads to the Leased Premises for the purpose of performing the works, the
transportation methods of the equipment and materials, loading and unloading areas, hours of work etc. will be determined in coordination with the contractor or the Landlord’s representatives as the case may be, and subject to the undertaking
of the Landlord to provide these measures to the Tenant and to the contractors on its behalf. 

  

	 	11.1.6.	 The Tenant undertakes to employ only contractors, suppliers and professionals who are licensed in accordance
with the provisions set forth in any law for the type of the work performed for the Tenant. 

  

	 	11.1.7.	 Without granting any rights to any third-party, the Tenant shall be solely liable for the equipment and the
materials that the Tenant or anyone acting on its behalf will bring, for the purpose of performing the works and the installations performed by the 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 27
 
 Unofficial English translation from Hebrew original 

 

	 	
Tenant. The materials, equipment and the facilities that the Tenant will install in the Leased Premises shall comply solely with the Israeli standards applicable to the said materials, equipment
and facilities. The Tenant will not place any equipment, facility and material outside the Leased Premises without advance coordination with the representative on behalf of the contractor or the Landlord. 

 

	 	11.1.8.	 The Tenant and/or anyone acting on its behalf shall not be entitled to store or lay materials, facilities and
equipment in the areas of the Building outside the Leased Premises, or use them for the purpose of performing the works without obtaining the prior and express approval of the Landlord. 

 

	 	11.1.9.	 The Tenant shall be solely liable for the Tenant’s Works and/or for any damage and/or cost caused to any
person and/or to property as a result of the performance of the Tenant’s Works. 

  

	 	11.1.10.	 In the event the Tenant hires any contractors for the purpose of performing any of the Tenant’s Works the
Tenant undertakes to assure in advance that the said contractors will also take out insurance for their works in accordance with the provisions set forth in the Insurance Appendix of this Agreement and with respect to the insurance for the works. It
is emphasized that a condition for the commencement of any works in the Leased Premises by the Tenant is that the Tenant will deliver to the Landlord the construction certificate of insurance stated in the Insurance Appendix. 

 

	 	11.1.11.	 In the event a building permit or any other license is required for the purpose of performing any modifications
and additions in connection with the Tenant’s Works, the Tenant shall be solely obligated to obtain all permits and/or licenses as said before the commencement of the modifications and the additions, and the Tenant shall be responsible and
shall incur all expenses in connection therewith and the Tenant shall be precluded from raising any claim and/or demand and/or suit against the Landlord in respect of the demands made by the authorities as said, and provided that if the Tenant is
required – the Landlord shall cooperate with the Tenant for the purpose of this matter, and provided that this will not impose any financial or other liability on the Landlord other than the liabilities imposed on the Landlord in accordance
with the provisions set forth in this Agreement. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 28
 
 Unofficial English translation from Hebrew original 

 

	 	11.1.12.	 In the event an additional building permit or any other license is required for the purpose of performing
modifications and additions in connection with the Tenant’s Works the Tenant undertakes that the advisors and/or the contractors and/or the craftsmen on behalf of the Tenant for the purpose performing the interior design, the design of the
electricity, plumbing, air-conditioning, sanitation, sewage, fire protection and any other main system in the Leased Premises will coordinate their plans in advance with the Architect and/or with the designers
of the said systems for the Landlord (and all according to the Landlord’s instructions) in a manner that will not cause any damage to the said systems. Upon the occurrence of the circumstances stated above (and solely upon their occurrence) the
Tenant shall incur the payment to the Landlord’s advisors. 

  

	 	11.1.13.	 Due to the complexity of the issue and the level of its impact on the entire systems in the Project the Tenant
shall be obligated to use, for the purpose of performing the works in connection with the systems that are part of the Tenant’s Works, only advisors and/or contractors and/or craftsmen authorized in accordance with and/or anyone acting on its
behalf and they shall be obligated to use materials, tools and systems of high quality and standard and that are in compliance with all the necessary standards, and the entire requirements of the Landlord and/or anyone acting on its behalf with
respect to the connection method of the systems of the Leased Premises to the common systems in the Building. 

  

	 	11.1.14.	 Any completion and/or addition and/or modification made at the Tenant’s expense in the Leased Premises
within the framework of the Tenant’s Works and the fixtures of the Leased Premises (hereinafter collectively: the “Modifications”) as stated above shall become the property of the Landlord. Notwithstanding the said it is
clarified that with respect to the laboratory areas, the Tenant shall be obligated to return to the Landlord the laboratory areas in shell level, when the said area includes only a floor and a ceiling (for the avoidance of doubt it is clarified that
the ceiling and 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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the floor that are left in this area will be the same ceiling and floor installed by the Tenant in the area of the laboratories and the Tenant shall not be obligated to restore the situation to
its previous state with respect to the type of the floor and the ceiling that were in this area prior to the performance of the Customization Works by the Tenant in this area). The Leased Premises will be returned to the Landlord subject to
reasonable wear stemming from reasonable and ordinary use of the Leased Premises. 

  

	 	11.1.15.	 Canceled. 

  

	 	11.1.16.	 The Landlord shall not be held liable for any delay or lag in the completion of the Leased Premises and/or the
delivery of possession in the Leased Premises to the Tenant as a result of a delay depending on the Tenant in the delivery of the drawings and the specifications that the Tenant is obligated to provide to the Landlord as stated in
Section 11.1.3 above, or a delay in their compliance with the Landlord’s requirements, and the Tenant shall be solely liable for any delay and/or lag in the completion of the Leased Premises and will start paying the Rent and all other
payments the Tenant is obligated to pay in accordance with the provisions set forth in this Agreement on the dates stated in this Agreement. 

  

	 	11.1.17.	 Without derogating from the generality of the aforesaid the Tenant will pay the Rent, incur all other payments
the Tenant is obligated to pay in accordance with this Agreement and will fulfill its entire undertakings as stated in this Agreement – even if delivery of possession in the Leased Premises is delayed or deferred as a result of the delays
stated in these sections not due to the fault of the Landlord and/or the Management Company and/or anyone acting on their behalf – as of the date the Tenant should have received possession if the Tenant had fulfilled its undertaking regarding
the delivery dates of the specifications and the drawings and/or with respect to the completion date of the Tenant’s Works. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	 	11.1.18.	 In the event the Lease Agreement is lawfully terminated as a result of a breach committed by the Tenant in
respect of any of the circumstances as stated above, the Tenant shall not be entitled to any indemnity and/or reimbursement for the works that the Tenant performed and/or facilities and/or equipment that the Tenant left in the Leased Premises after
vacating the Leased Premises and/or any fixtures that the Tenant added to the Leased Premises and/or installed in the Leased Premises and the provisions set forth in Section 22 hereunder shall apply to the parties. 

 

	 	11.1.19.	 The placement of facilities and/or systems of the Tenant on the roof of the Building will not be allowed (as
opposed to the systems in the Building or systems that will be used by the Landlord and the Landlord shall be entitled to place the said system on the roof of the Building at its sole discretion) however only after obtaining the prior and written
approval of the Landlord. The Landlord shall be entitled to set prerequisites as a condition for its approval to place such facilities and systems as said, at its sole discretion. 

 

	 	11.2.	 Air-conditioning, electricity and alarm systems 

  

	 	11.2.1.	 The parties agree that the Tenant undertakes, at its expense, to hire the services of the safety advisor of the
Building only (S. Netanel) for the purpose of preparing a safety plan and obtaining the approval of the National Fire and Rescue Authority for the Leased Premises. In addition, the Tenant undertakes to obtain the approval of the advisors of the
Building for the purpose of “approving and inspecting the Tenant’s drawings” prior to the commencement of the works, the Tenant shall be responsible and shall incur all expenses for the inspection of the drawings vis-à-vis the relevant advisors (electricity, air-conditioning, plumbing). 

 

	 	11.2.2.	 The Tenant undertakes to install in the Leased Premises
air-conditioning systems as stated in and subject to the provisions set forth in Appendix B of this Agreement. The air-conditioning system in the Leased
Premises will be installed and will be connected to the main system solely at the Tenant’s expense. The drawings will be submitted to the Landlord according to the orders made in the system. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	 	11.2.3.	 The Tenant undertakes to install in the Leased Premises at its expense a fire alarm system and a PA
system manufactured by Swilco Company (including sprinklers in a layout according to the Tenant’s requirements) and as stated in and subject to the provisions set forth in Appendix B and Appendix C of this Agreement.

  

	 	11.2.4.	 The Tenant declares that it is aware that the Landlord is the sole right holder towards Israel Electric Corp.
in anything related to the receipt and supply of electricity to the Building. The supply of electricity to the Building and to the Leased Premises shall be made in accordance with the provisions set forth in Appendix B of this Agreement. It is
clarified that the Landlord shall not be held liable in any manner in the event of a malfunction in the electricity supply to the Leased Premises, to the extent that the said malfunction does not stem from a negligent act or from an omission of the
Landlord and/or anyone acting on its behalf. This condition is a fundamental condition in this Agreement. 

  

	 	11.2.5.	 Electricity systems: 

 

	 	11.2.5.1.	 The Tenant undertakes to install an electricity system in the Leased Premises at its expense, in the
manner set out and subject to the provisions set forth in Appendix B and Appendix C of this Agreement. 

  

	 	11.2.5.2.	 The Tenant shall have no claim and/or suit against the Landlord in the event of a malfunction in the
provisional electricity system and/or in the electricity supply to the Leased Premises, provided that the malfunction does not stem from an act and/or omission of the Landlord and/or anyone acting on its behalf. 

 

	 	11.2.5.3.	 The Tenant undertakes to purchase an energy meter manufactured by Silver Gate Company (QLC) and install and
wire the meter up to the communication cabinet on the floor. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	 	11.2.6.	 The Tenant will provide to the Landlord, up to 3 days prior to the date in which permanent electricity
connection is installed in the Area of the Leased Premises, a certificate from a certified electrical inspector confirming that the electricity systems in the Leased Premises are in working order. The presentation of such a certificate as said shall
constitute a condition for the connection of the electricity system in the Leased Premises to the electricity system of the Building. Failure to connect the Leased Premises to the electricity system as a result of failure to present such a
certificate as said shall not release the Tenant from its obligations in accordance with this Agreement, including the payment of the Rent and the expenses. 

  

	 	11.2.7.	 The Tenant confirms that it is aware that the electricity meters, including the electricity meter of the Leased
Premises, will be located in bulk and will be installed by the Landlord in each floor or area in the Building as decided by the Landlord, and the Tenant agrees to the location of the meter as said and the billing of the Tenant according to the
reading of the said meter. The Tenant will pay to the Landlord or to IEC, in the event electricity is supplied in bulk, the installation costs of the electricity meters used in the Leased Premises no later than 30 (thirty) days as of the date of
receiving the demand of the Landlord, and according to the amount stated by the Landlord in its demand, when the Landlord’s demand will be based on the purchase and installation costs of the electricity meters, and following presentation of
invoices. 

  

	 	11.2.8.	 The Tenant undertakes to pay to the Landlord or the Management Company, as decided by the Landlord, in respect
of the consumption of electricity in the Leased Premises during the Term of Lease, the amounts stated in the bills the Landlord or the Management Company will deliver to the Tenant, at the Landlord’s discretion, by way of a wire transfer to the
Landlord’s Account or (as decided by the Landlord) to the Management Company, shortly after the delivery date of the billing notice to the Tenant. The said electricity bills will be based on the current tariffs charged by IEC.

  

	 	11.2.9.	 The Tenant declares and affirms that it is aware that prior to the Delivery Date, and for the purpose of
enabling work and lighting in the Leased Premises, the Landlord will set up a provisional electricity system and the electricity will be supplied to the central distribution board in the floor without meters, and the Tenant will connect to the said
system. The Tenant undertakes that during the performance of the Tenant’s Works the Tenant will pay for the electricity according to the actual consumption of the users of electricity. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	 	11.2.10.	 The air-conditioning system, the sprinklers system, the electricity
systems including all components, accessories and facilities of the said systems, and any improvement, modification and addition connected permanently and made by the Tenant during the Term of Lease will become the property of the Landlord who shall
become their owner upon expiration of the Term of Lease or upon termination of this Agreement, including in the event the Tenant is replaced, and the Tenant waives any claim and/or demand in connection therewith. For the avoidance of doubt, it is
hereby clarified that the Tenant or anyone acting on its behalf, including a substitute tenant coming in its place, shall not be entitled to any payment or indemnity in respect whereof, not from the Landlord, not from the Management Company and not
from any other substitute tenant. 

  

	 	11.3.	 General provisions in connection with the construction of the Building and the Leased Premises 

  

	 	11.3.1.	 Canceled. 

  

	 	11.3.2.	 The Landlord shall be entitled at any time, and without obtaining any approval by the Tenant, to perform any
modification or addition in the Project, at its sole discretion, both prior to the commencement of the Term of Lease and during and/or after the Term of Lease, including, but not limited to, addition or reduction of areas, the addition of floors,
areas or wings to the Commercial Center and/or to Building F and/or to the Building and/or the allocation of indoor or outdoor public areas into areas used exclusively by different users, modifications in openings and passageways, modifications in
parking lots, the use of basements, entrances (pedestrians and vehicles) to the Commercial Center and/or to Building F and/or to the Building, the protected spaces and/or the toilets, the performance of different construction

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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additions and/or removal of construction, and any other modification in the Building or in the drawings of the Project (hereinafter in this Section: the “Modifications”) subject
to the fulfillment of the entire cumulative conditions: (1) the said Modifications will not impose any unreasonable nuisance preventing the use of the Leased Premises; (2) this will not impose on the Tenant any additional costs;
(3) the proper access to and from the Leased Premises and the Parking Spaces will be maintained at all times. 

 Subject
to the said in the last part of sub-section 11.3.2 above, the Tenant shall be precluded from raising any claims and/or suits and/or demands against the Landlord and/or anyone acting on its behalf in connection
with the performance of the Modifications, in whole or in part, and subject to the said in the last part of sub-section 11.3.2 above, and the Tenant undertakes not to disturb and not to object to any
modification or addition as said. This condition is a fundamental condition in this Agreement. 
  

	 	11.3.3.	 Canceled. 

  

	 	11.4.	 The Tenant undertakes to allow the Landlord to enter to the Leased Premises at any reasonable time, both for
the purpose of conducting an inspection regarding the performance of the entire provisions set forth in this Agreement and for the purpose performing any works and/or repairs, and all by appointment with the Tenant. In addition, the Architect and/or
the foremen on behalf of the Landlord in the Project shall be entitled to conduct an inspection with the Tenant in the Leased Premises following advance coordination with the Tenant, during the performance of the Tenant’s Works and thereafter,
and in the event the Landlord finds that the Customization Works may harm the construction of the Building and/or the safety and/or the common systems in the Building, the Landlord shall be entitled to demand from the Tenant to perform modifications
in the Tenant’s Works, and the Landlord’s demand will be delivered in writing and will be delivered in accordance with the provisions set forth in this Agreement, and the Tenant undertakes to fulfill any reasonable demand as said within a
reasonable time. In addition, the Tenant shall be entitled to disagree with the opinion of the representative on behalf of the Landlord, and in the event of differences of opinion the parties will request from an agreed person to decide in the

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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dispute, as stated in Section 11.5 hereunder. It is clarified that works and/or repairs in the Leased Premises will be performed only in the event there is no other option to perform such
works and/or repairs not from the Area of the Leased Premises, following advance coordination with the Tenant with respect to their performance dates and after restoring the condition to its previous state upon completion of the works.

  

	 	11.5.	 In the event of a difference of opinion between the parties regarding the level of compliance of the
construction of the Leased Premises with the specifications and the drawings, and with respect to any other dispute relating to a delay on behalf of the Tenant in the provision of specifications and drawings and/or their compliance with the
Landlord’s requirements set out in Section 11 including all sub-sections thereof, and/or relating to the duration of the delay caused in connection therewith in the delivery of possession in the
Leased Premises to the Tenant and/or the Lease Commencement Date and relating to the performance of the construction works in the Project and the Leased Premises – an architect and/or an engineer whose identity will be agreed between the
parties will decide in this dispute as an expert (and not as an arbitrator), as the case may be, and his decision shall be final and shall bind the parties for all intents and purposes as if the parties agreed to this decision from the start.

  

	 	11.6.	 For the avoidance of doubt, it is hereby agreed and clarified that the Tenant, as opposed to the Landlord,
shall be solely responsible for obtaining all licenses and/or certificates and/or permits that are required in accordance with the provisions set forth in any law for the purpose of opening its business in the Leased Premises and conducting its
business during the entire Term of Lease and all at its sole expense, including a business license in accordance with the provisions set forth in the Business Licensing Law 5728-1968 and/or any law. During the entire Term of Lease the Tenant
undertakes to satisfy all conditions that are required for the purpose of obtaining permits, licenses and certificates as said, conduct its business in accordance with their terms and keep them in effect during the entire Term of Lease, and not to
make any non-conforming use in the Leased Premises and not to conduct in the Leased Premises any business that is not permitted in accordance with the law that applies or that will apply, and observe the
instructions of any authority that acts in accordance with the law in connection with the aforesaid matters, and all subject to and in compliance with the provisions set forth in Section 16 hereunder. To the extent that the

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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Landlord’s signature is required for the purpose of obtaining any approval and/or license as said, the Landlord undertakes to sign any document whose signature will be required for the
purpose of obtaining such an approval as said, provided that this will not impose on the Landlord any liability, financial or other – that is not imposed expressly on the Landlord in accordance with the provisions set forth in this Agreement.

  

	 	11.7.	 The Tenant undertakes not to install and not to permit and/or agree that a third-party will install antennae
and/or cellular relays and/or reception and/or transmission facilities (hereinafter: the “Transmission Facilities”) in the Building and/or in the Leased Premises and/or in their area. For the avoidance of doubt, it is clarified that
cellular reception amplifiers and/or Wi-Fi are not part of the Transmission Facilities whose installation by the Tenant is prohibited. The Landlord shall be entitled to install and/or agree to the installation
of Transmission Facilities, at its sole discretion, in the area of the Project and in the Building, and all in accordance with the provisions set forth in any law. This Section is a material section in this Agreement. Notwithstanding the said, it is
agreed that the Landlord shall not be entitled to install cellular antennae in the area of the Building. 

  

	 	11.8.	 Signage  

 

	 	11.8.1.	 The Tenant shall not be entitled to install signs on and/or outside the Area of the Leased Premises (including
in the areas of roofs and/or façades of the Building) however only after obtaining the Landlord’s approval, which approval shall be granted in advance and in writing. To the extent that the Landlord’s approval for the installation
of signs is granted as said, and in accordance with the provisions set forth in the Signage Appendix, Appendix J of this Agreement. 

  

	 	11.8.2.	 Canceled. 

  

	 	11.8.3.	 The Landlord shall be entitled to remove, at its expense, any sign that the Tenant will install in violation of
the provisions set forth in this Section. The Tenant shall return to the Landlord any amount that the Landlord will pay in connection with the removal of the sign and/or the repair of the wall to which the sign was attached, immediately after the
Tenant receives a written letter of demand from the Landlord. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	 	11.8.4.	 The Tenant declares that it does not object and that it agrees that the Landlord and/or any other third-party
will attach signs to the façades of the Building and/or on the roof of the Building with the Landlord’s approval and on the condition that this will not cause a disturbance to the Leased Premises. In addition, the Landlord shall be
entitled to connect a sign to the walls of the Building that includes the Landlord’s name, a logo and the trademark and other particulars relating to the Landlord. 

 

	12.	 Delivery of possession and delivery protocol  

The Landlord undertakes to complete the construction works of the Building (except for development works, finishing works in the public areas,
operation of the electromechanical systems, completion of the preparation of the loading and unloading areas, warehouses and different finishing works that will be completed no later than 12 months as of the delivery of possession date in the Leased
Premises), complete the Landlord’s works in the Leased Premises and deliver possession in the Leased Premises to the Tenant until the Delivery Date, and the following provisions shall apply: 

 

	 	12.1.	 Possession in the Leased Premises to the Tenant as stated above will be delivered upon the completion of the
works that the Landlord is obligated to perform until that date and no later than February 1, 2019. The representatives on behalf of the parties will draw up and sign a delivery protocol on the Delivery Date. 

For the avoidance of doubt it is clarified that the avoidance by the Tenant from cooperating with the Landlord in drawing up a delivery
protocol and/or the existence of any defects and/or non-conformances and/or the need to complete the works in the Leased Premises will not give rise to a preclusion that will prevent receipt of possession in
the Leased Premises, and provided that the Leased Premises are ready for delivery in accordance with the provisions set forth in this Agreement, and the Tenant shall be obligated to receive possession in the Leased Premises on the Delivery Date.

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	 	12.2.	 The Tenant undertakes to receive possession on the Delivery Date, provided that the Leased Premises are ready
for delivery in accordance with the provisions set forth in this Agreement, and the Tenant confirms that in any event the Tenant fails to come and receive possession on the said date (and the Leased Premises were ready for delivery on that date in
accordance with the provisions set forth in this Agreement), the Tenant shall be held liable for all obligations applicable to the Tenant as of that date as stated in this Agreement, including the obligation to pay the Rent, management fees,
municipal taxes and all other expenses and additional payments imposed on the Tenant in accordance with this Agreement. 

  

	 	12.3.	 On the delivery of possession date and as a condition for delivery of possession, the Tenant undertakes to
perform the following actions: 

  

	 	12.3.1.	 To receive possession in the Leased Premises, and provided that the Leased Premises are ready for delivery in
accordance with the provisions set forth in this Agreement. Receipt of possession in the Leased Premises by the Tenant shall constitute approval on behalf of the Tenant that the Leased Premises were delivered to the Tenant in full compliance with
the provisions set forth in this Agreement and subject to the said in the delivery protocol and defects that could not have been detected at the time of drawing up the delivery protocol. 

 

	 	12.3.2.	 To pay the full amount of the Rent for the first month of lease (beyond the exemption period) of the First Term
of Lease and to pay the management fees and all other and additional expenses and payments the Tenant is obligated to pay in accordance with the provisions set forth in this Agreement. 

 

	 	12.3.3.	 To provide to the Landlord certificates of insurance signed by the insurer during the entire Term of Lease as
stated in the Insurance Appendix. 

  

	 	12.3.4.	 To provide to the Landlord an irrevocable authorization to debit the bank account for the purpose of
transferring the payments. 

 It is clarified that in the event the Tenant fails to perform any of the actions stated
above fully and timely the Tenant will not receive possession in the Leased Premises and this shall not be deemed as any breach committed by the Landlord, and without derogating from any relief and/or remedy and/or

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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right granted to the Landlord and/or the Management Company in accordance with this Agreement and/or in accordance with the Management Agreement and/or in accordance with the provisions set forth
in any law, and without derogating from the provisions of Section 12.2 above and the undertakings of the Tenant to perform fully and timely all of the aforesaid actions. 
  

	13.	 The business activities in the Building and in the Leased Premises and their times

  

	 	13.1.	 Opening the business in the Leased Premises  

The Tenant undertakes to conduct its business in the Leased Premises regularly, continuously and in a high level and standard of management
and maintenance that is appropriate for similar modern and luxurious buildings same as the Building, as of the completion date of the Tenant’s Works henceforth, and during the entire Term of Lease, and all as customary in businesses that are
similar to the Tenant’s business. 
  

	 	13.2.	 The Tenant undertakes to make full and timely payment of any payment that the Tenant owes in accordance with
this Agreement, including payment of the Rent, whether or not the Tenant uses the Leased Premises, except for circumstances in which the Leased Premises cannot be used as a result of an act and/or omission of the Landlord and/or the Management
Company and/or anyone acting on their behalf and subject to the provisions set forth in this Agreement. 

  

	 	13.3.	 The Tenant shall be entitled to close its business in the Leased Premises for the periods as customary for that
type of business same as the business conducted by the Tenant. The closing of the business in the Leased Premises for any reason shall not derogate from the Tenant’s obligation to pay the Rent for the entire Term of Lease.

  

	 	13.4.	 The opening hours of the business conducted in the Leased Premises shall be as customary for businesses such as
the business conducted by the Tenant, without derogating from the provisions set forth in any law and the instructions of any competent authority. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	 	13.5.	 Without derogating from any provision set forth above, the Tenant declares that it is aware that the Landlord
and/or the Management Company shall be fully entitled to allow other leased premises and/or other businesses in the Building, according to their decision and at their absolute discretion, to open their businesses at times and on days as decided by
the Landlord and/or the Management Company and the Tenant declares irrevocably that it shall have no objection that the other business establishments in the Building, in whole or in part, will operate their business on the dates and at the times as
said, and the Tenant shall not have any claim and/or suit and/or demand against the Landlord and/or the Management Company and/or the other tenants in connection therewith, and provided that this shall not disturb the reasonable use of the Tenant in
the Leased Premises in accordance with the Purpose of Lease. For the avoidance of doubt, it is clarified that the Landlord undertakes, to the extent that this depends on the Tenant, to allow the Tenant to work 7 days a week, 24 hours a day and that
the Tenant will have access to the Leased Premises at any time. 

  

	 	13.6.	 The Tenant declares and warrants that it is aware that different businesses and stores will be operated in the
areas of the Project, in the Commercial Center in Building F and in the Building, according to the mix and the nature of the leased premises that are customary in centers such as the center where the Project is located, and the Tenant declares and
warrants that it shall have no claim and/or demand and/or suit in connection therewith, including in connection with their hours of operation, the entry and exit arrangements therefrom, and provided that this shall not cause any nuisance in the use
the Tenant makes in the Leased Premises from 08:00-19:00. 

  

	 	13.7.	 The Landlord and/or the Management Company shall be entitled to close the leased premises in the Building
(other than the Leased Premises) including in the commercial area for any activity on special days and time as decided by the Landlord and/or the Management Company and at their discretion, including, and without derogating from the generality of
the aforesaid, the Holocaust Remembrance Day, the Day of Remembrance for the Fallen Soldiers of Israel and Victims of Terrorism (“Yom Hazikaron”) Saturdays and holidays and other days of similar importance. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	 	13.8.	 The Parking Lot 

 

	 	13.8.1.	 The Landlord shall be entitled to operate a parking lot in the Project and grant rights of use therein or lease
the Parking Lot, in whole or in part, and/or certain reserved or unreserved Parking Spaces to third-parties, even if they do not lease areas in the Project, and all at the sole discretion of the Landlord and provided that this shall not affect the
Parking Spaces leased by the Tenant. Subject to the aforesaid regarding avoidance from affecting the rights of the Tenant in the Parking Spaces, the Landlord shall be entitled to use the area of the Parking Lot at its absolute and sole discretion,
including the provision of certain areas and/or their allocation in any manner in favor of whoever it decides and for any period of time decided and the collection of separate payment from whoever received such areas as said, and the Tenant shall
have no claim and/or suit and/or demand in respect of the aforesaid, and provided that this shall not affect the right of use of the Tenant in the parking spaces. 

 

	 	13.8.2.	 The Landlord may, at its absolute and sole discretion, decide from time to time to operate the Parking Lot or
any part thereof as a parking lot in return for payment, whether by itself, whether by the Management Company and whether by others, including to lease the Parking Lot to subcontractors. It is agreed that the Landlord and/or the entity that will
operate the Parking Lot as stated above shall be entitled to set out procedures for the use, operation, parking, entry and exit in the Parking Lot, and that will be reasonable and customary, and change them from time to time, provided that this
shall not affect the rights of the Tenant in accordance with this Agreement and/or impose additional payments on the Tenant. 

  

	 	13.8.3.	 Canceled. 

  

	 	13.8.4.	 The Parking Spaces included in the Leased Premises – to the extent that Parking Spaces are included
in the areas of the Leased Premises, the provisions set out in the Parking Appendix, Appendix A’3, shall apply to the said Parking Spaces. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	14.	 Management of the Project and the Building  

The Landlord shall be entitled to cause that a corporation that will engage in the management of the Building will be appointed or formed from
time to time, whether by way of separate management and whether as management of part of the Project as a whole, including all its wings, including the Commercial Center, Building F, the Building and their maintenance (hereinafter: the
“Management Company”). As long as such a corporation is not appointed or formed, or as long as the Management Company does not start with the management of the any of the areas in the Project, its buildings, the Commercial Center
and maintenance thereof, or in the event such an appointment expired as said, the Landlord or anyone acting on its behalf will serve as the Management Company for the purpose of this Agreement. 

The Management Company will set out the arrangements, rules and procedures relating to the management of the Project areas in whole, including
the Building and their maintenance, and will lay down bylaws that will apply to all the tenants and the users of the Project areas and will monitor the enforcement and performance of such bylaws. The Tenant undertakes to sign with the Management
Company the Management Agreement whose key principles are the principles laid down in this Section 14. The bylaws will be attached to the Management Agreement when the provisions set forth in the first part of this Section shall apply to the
said bylaws. 
 In addition, the Management Company will provide, whether by itself and/or by subcontractors, management and maintenance
services for the areas of the Project, including for the Building, including the supply of electricity in bulk for the Building and systems thereof, the collection of bills from the tenants and the possessors of the Building, in accordance with this
Agreement and including services for the purpose of collecting the Rent, management fees and other payments for the consumption of electricity, cleaning and lighting of the public areas in the areas of the Project and the Building, both indoor and
outdoor, air-conditioning for the indoor public areas, gardening in the public areas, maintenance, warranty and repairs of the electricity systems in the public areas, lighting,
air-conditioning, elevators, escalators and all other systems and facilities that are used by all the users of the Project areas and the Building, installation, use and maintenance of different facilities for
the use and enjoyment of the other tenants and/or visitors to the Building, signage, dwelling insurance for the areas of the Project including for the Building (excluding the content of the leased premises) third-party liability insurance in
connection with the public areas, payment of municipal and governmental taxes applicable to the public areas and the maintenance of the parking lots and their operation, or any other service that is required for the purpose of managing and
maintaining the Project areas including the Building (hereinafter: the “Services”). 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 43
 
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 It is further agreed that the warranty and the repairs as stated in the definition of the
Services above also include, however not only, the replacement and/or retrofitting of equipment and accessories as may be required, and the Management Company shall be entitled, if the Management Company makes a decision to that effect, to finance
the said services in whole or in part, by a fund for the replacement and/or retrofitting of the equipment and the payments for the said fund will be collected regularly from the different tenants as part of the maintenance and management expenses,
and the Management Company will invest the said funds in solid investments and the said investments will not be returned to the Tenant. The deposits made in the said fund will be made according to the decision made by the accountant on behalf of the
Landlord or the Management Company in accordance with the generally accepted accounting principles and while relying on the opinion of technical professionals. In the event the said fund is insufficient for the purpose of replacing and retrofitting
the equipment systems or any facilities, the tenants leasing the units in the Project and in the Building shall make good the missing amount, according to the ratio between the area of their unit and the total area of the other units in the Building
that are actually possessed by the tenants and/or that are designated for lease and/or sale. It is clarified that as of the date of signing this Agreement no payments for an equipment replacement fund are charged from the tenants leasing the
Building as part of the management fees. 
  

	 	14.1.	 The Management Company shall have access to the Leased Premises, by appointment, for the purpose of performing
any work in the Area of the Leased Premises and that is required for the purpose of performing the services or any thereof, and subject to the fulfillment of all of the following cumulative conditions: (1) there is no possibility to perform the
work reasonably not from the Area of the Leased Premises; (2) the work will be performed in a manner that will not cause a disturbance to the business conducted by the Tenant in the Leased Premises and will be coordinated with the Tenant in
advance; (3) the Leased Premises will be restored to their previous condition upon completion of the work. 

  

	 	14.2.	 The Management Company will employ workers, subcontractors, advisors, accountants, attorneys etc. as it deems
fit and proper in buildings such as the Building for the purpose of performing its work. The expenses paid by the Management Company for all of the aforesaid works and its general expenses will be included as part of the “cost” as stated
in Section 14.3 hereunder. For the avoidance of doubt, it is clarified that the employment of the said workers by the Management Company shall not derogate from its obligations in accordance with this Agreement and/or the Management Agreement.

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 44
 
 Unofficial English translation from Hebrew original 

 

	 	14.3.	 The Tenant will pay for the period commencing on the Delivery Date henceforth maintenance fees as participation
in the expenses of the Management Company, including a fund for the retrofitting and/or replacement of equipment in accordance with the provisions set forth in the first part of Section 14 above, according to its relative rate in the expenses
of the Management Company. 

 The relative part of the Tenant in the maintenance fees will be calculated by dividing the
Area of the Leased Premises by the total number of all the areas designated for lease (and that were not leased yet) and/or for sale in the Building, and the total area that was actually sold or leased in the Building. The estimated maintenance fees
will be based on cost price for the performance of the Services, within their meaning above, with the addition of 15% profit for the Management Company (COST+15%). As of the date of signing this Agreement the monthly estimated maintenance fees are
in the amount of NIS 15 for each 1 sq.m. of the areas of the Leased Premises for the purpose of collecting the Rent, together with linkage differentials to the Basic Index, and in addition to statutory VAT. The Management Company or the Landlord
shall be entitled to update the amount of the maintenance fees according to the actual costs and according to the increase in the prices of the inputs and/or wages etc. 

It is clarified that the said maintenance fees include only services that will be provided to the Building during the following days and hours
of activity: Sun. – Thurs., from 08:00-18:00 (hereinafter: the “Ordinary Hours of Work”). In respect of additional services that are provided to the Tenant, beyond the said Ordinary Hours
of Work, including the operation of the coolers/chillers system, beyond the Ordinary Hours of Work, the maintenance fees will be charged according to the actual consumption of the Tenant (according to the reading of the energy meter that will be
installed in the Leased Premises). Subject to the aforesaid provisions, the operation of the air-conditioning and the electricity system will be permitted for 24 hours a day, 7 days a week. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 45
 
 Unofficial English translation from Hebrew original 

 

 It is clarified that the said maintenance fees will include only services in respect of the
maintenance of the common areas in the Building, however not the management in the floors of the areas of the Leased Premises. 
 It is
clarified that the maintenance fees as stated above include guarding services at the entrance to the Building from 07:00 and until 19:00. The tenants shall solely incur the costs of the guarding services beyond the said hours. 

 

	 	14.4.	 The Tenant confirms that it is aware, and the Tenant shall have no claim in connection therewith, that certain
stores and/or commercial areas and/or businesses that are defined as “anchor stores/tenants” will participate in the expenses of the Management Company for fixed amounts that were set prior to the signing of this Agreement or that will be
set after the signing of this Agreement, by negotiations held between the Landlord and the said anchor tenants and according to the customary practice in projects such as the Project, and provided that this will not increase the amount of the
management fees that the Tenant is obligated to pay in accordance with the provisions set forth in this Agreement. Therefore, the amount of participation in the management expenses as paid by the said anchor tenants will be subtracted from the
management expenses in addition to the profit to the Management Company, and the balance will be divided among the tenants leasing the leased premises in the Project, including in the Building according to the key presented above. In addition, it is
agreed that the Management Company will set a separate rate for each of the following wings: commercial wing, offices wing and the parking lot areas. 

  

	 	14.5.	 The Management Company shall be entitled, at its discretion, to provide special services to any of the tenants
leasing premises in the Project including in the Building and/or its users, and in such circumstances as said the said tenant or user shall be solely responsible for paying for the said services, if provided. 

 

	 	14.6.	 The Tenant shall be entitled to inspect the accounting documents of the Management Company and receive
explanations from the Management Company following advance coordination with the Management Company. The books of the Management Company and its documents shall constitute prima facie proof of their content with respect to the expenses of the
Management Company and anything associated therewith. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 46
 
 Unofficial English translation from Hebrew original 

 

	 	14.7.	 The refusal and/or the willingness and/or the request of the Tenant to receive any service and/or a service
that the Tenant undertook to receive in accordance with the Agreement and/or the Management Agreement and/or the Tenant’s request to terminate the performance of the services, in whole or in part, shall not release the Tenant from its
undertakings in accordance with this Agreement including the obligation to pay the Rent, and in any event shall not release the Tenant from any of its undertakings in accordance with this entire Section 14. 

 

	 	14.8.	 The signing of the Tenant on this Agreement constitutes a direct undertaking towards the Management Company,
once the Management Company is appointed or formed and to the extent that this is relevant to the Management Company, and an undertaking of the Tenant towards the Landlord to fulfill its entire undertakings towards the Management Company whether as
stated in this Agreement and whether as stated in the Management Agreement stated hereunder. As long as the Management Company is not appointed or formed, the Landlord shall come in its place. At the Landlord’s request the Tenant will sign the
Management Agreement with the Management Company that is based on the principles laid down in this Section 14. The Tenant agrees that there might be changes in the said principles and that stem from requirements that are unknown at the time of
signing this Agreement. In such circumstances as said the Tenant will sign the Management Agreement at the Landlord’s request, to the extent that they do not impair the rights of the Tenant by virtue of this Agreement and on the condition that
the contract is reasonable. 

  

	 	14.9.	 The Management Company shall be entitled, however not obligated, to set out from time to time at its discretion
and as customary in similar projects and buildings bylaws and/or procedures and/or instructions in anything related to the use of the areas in the Project and the Building including, but not limited to, anything related to entry and exit procedures,
security, access, right of way to pedestrians and vehicles, transportation of goods and merchandise to the Leased Premises and their removal from the Leased Premises, prevention of different types of nuisances and disturbances, instructions,
arrangements and guidelines for the performance of renovations and/or customization works in the leased premises and their area, opening and closing times of the businesses in the Commercial Center, operating hours of the lighting and the intensity
of the lights in the different 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 47
 
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leased premises and in the display windows, the use of the parking lots and the public areas, the operation of air-conditioning systems, heating and/or
cooling systems in the public areas in the Project and the Building and/or in the leased premises themselves, the operation of the audio or music systems in the Building and in the leased premises themselves, signage, placement of ads or signs and
the like. The Tenant undertakes that it and anyone acting on its behalf will observe strictly the entire provisions set forth in the bylaws and/or the procedures and/or the instructions set out by the Management Company as said, and provided that
they are reasonable and as customary in similar buildings and do not impose on the Tenant additional costs and/or impair its rights in accordance with this Agreement, without derogating from the authorities of the Management Company to change them
as stated above. 

  

	 	14.10.	 In any event the Tenant defaults in making any of the payments that are due or that will be due to the Tenant
to the Management Company in accordance with this Agreement and/or in the event the Tenant breaches the provisions set forth in this Agreement and/or in the event the Tenant avoids performing any action and/or performs an action the Tenant is
prohibited from performing in accordance with the provisions set forth in this Agreement and/or in accordance with the provisions set forth in any law and fails to cure the breach in 14 days as of the date of receiving a written notice, the
Management Company shall be entitled, without prejudice to its right to seek any other relief in accordance with the law, and at its discretion, perform one or more of the following actions: 

 

	 	(1)	 To terminate in whole or in part the management and the performance of the services provided to the Tenant
and/or to prevent from the Tenant to use the services or any part thereof. 

  

	 	(2)	 To demand an injunction and/or a mandatory injunction. 

 

	 	(3)	 To act in any other manner permitted to it in accordance with the law including the termination of this
Agreement, termination of the Lease Agreement with the Tenant and the eviction of the Tenant from the Leased Premises. 

  

	 	(4)	 To perform the actions in the name of the Tenant and/or to cure the breach at the Tenant’s expense and to
charge the Tenant for its expenses. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 48
 
 Unofficial English translation from Hebrew original 

 

	 	14.11.	 The parties agree that with respect to any amount that the Tenant fails to pay on time and that is not paid
even in 7 days after the date set for its payment (hereinafter: the “Amount in Default”) the Tenant shall be obligated to pay to the Management Company, in addition to the Amount in Default, linkage differentials with respect to the
Basic Index and the said amount shall incur Interest in Arrears as of the date the debt was created and until the actual payment date. 

The parties agree and declare that in addition to the entire reliefs set out in this Agreement and in the law, the Tenant shall be obligated
to pay to the Management Company, in addition to the Amount in Default, the entire expenses that the Management Company will pay in anything related to the legal proceedings against the Tenant in connection with any litigation or lawsuit or any
action in the Execution Office including the fees to the attorney of the Management Company that handles the case, according to the decisions made in a peremptory judgment and the Tenant undertakes to return to the Management Company the entire
expenses the Management Company incurred in respect of the litigation that was conducted including the commencement of a lawsuit and/or execution proceedings according to the results of the proceeding and the ruling of the expenses made by the
court. 
  

	15.	 Possession and management of the Leased Premises  

 

	 	15.1.	 The Tenant undertakes to conduct its business in the Leased Premises in accordance with the provisions set
forth in any applicable law and without causing any nuisance to the possessors of the areas of the Building and grounds thereof. In any event of breach as said the Tenant undertakes to apply all measures that are required by the Landlord and/or by
the competent authorities for the purpose of eliminating the nuisance in 7 days as of the date of receiving a letter of demand from the Landlord to that effect. In the event the Tenant fails to act in the said manner, the Landlord shall be entitled
to perform any other action, including for the purpose of eliminating the nuisance and the Tenant on its behalf shall indemnify the Landlord for any expense the Landlord shall incur in connection therewith. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 49
 
 Unofficial English translation from Hebrew original 

 

 Without derogating from the generality of the aforesaid the Tenant undertakes not to operate
in the Leased Premises or grounds thereof any PA system and/or speakers and/or unreasonable noise and/or odor and/or waste and/or litter nuisances and not to attach and/or place signs in the areas of the Building. In addition, the Tenant undertakes
to keep a reasonable level of cleanliness in the Leased Premises and in their nearby surroundings. In the event the Tenant breached the aforesaid provisions, the Landlord may, after delivery of a seven (7) days’ prior and written notice
during which the breach was not cured, perform all actions and obtain all the reliefs set out in this Agreement, including in Section 14.10 above, and the Tenant shall incur all expenses caused to the Landlord in connection therewith 

 

	 	15.2.	 The Tenant will conduct its business in the Leased Premises in strict adherence to the provisions set forth in
the Management Agreement, to the extent that there is any, and all reasonable and customary procedures and instructions set out by the Management Company by virtue of its authority as stated in Section 14 above including all sub-sections thereof. 

  

	 	15.3.	 The Tenant undertakes to keep the Leased Premises during the entire Term of Lease in good and operable
condition (subject to natural and reasonable wear) and will repair promptly and at its expense any breakdown, damage or defect detected therein, except for reasonable wear in the main systems of the Leased Premises that will be repaired by the
Landlord within a reasonable time taking into consideration the circumstances of the case. In the event the Tenant fails to start with the performance of the repair (that applies to the Tenant in accordance with the provisions set forth in this
Agreement) in 7 (seven) days as of the date of receiving written notice for the purpose of this matter to repair the damage and/or the breakdown as said, the Tenant shall be responsible for performing the repair in accordance with the provisions set
forth in this Agreement, the Landlord and/or the Management Company shall be entitled to enter the Leased Premises and perform the said actions in lieu of the Tenant and the provisions set forth in Section 25 of the Agreement shall apply.

  

	 	15.4.	 The Tenant will return possession in the Leased Premises to the Landlord upon expiration of the Term of Lease
or as a result of the shortening of the Term of Lease in consequence of the termination of this Lease Agreement and in the same condition the Leased Premises were delivered at the time of delivery of possession therein to the Tenant, and subject to
natural and reasonable wear. For the avoidance of doubt it is clarified and emphasized that the Leased Premises will be delivered to the Landlord when they include any renovation, improvement, addition, modification, repair or

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 50
 
 Unofficial English translation from Hebrew original 

 

	 	
fixture therein, even if installed and/or if they were added to the Leased Premises by the Tenant at its expense (and including the customization works that the Tenant performed in the Leased
Premises on the Lease Commencement Date), including the air-conditioning systems, mechanical systems, electrical systems etc. For the avoidance of doubt, it is clarified that with respect to the area that was
designated for the laboratories in the Leased Premises, the said area will be returned to the Landlord in shell level (however when it includes the floor that the Tenant installed in this area). 

 

	 	15.5.	 The Landlord and/or the Management Company shall be entitled, at their discretion, to enter the Leased Premises
from time to time on reasonable dates and following advance coordination for the purpose of inspecting the performance of this Lease Agreement and/or for the purpose performing works and repairs and provided that they apply reasonable measures to
avoid the reasonable use of the Leased Premises and will assure that the inconvenience caused to the Tenant will be as minimal as possible, and after completing the repair the Landlord and/or the Management Company undertakes to restore the Leased
Premises to their previous state (with respect to the part where the repair was performed. 

 Public areas and common
property 
  

	 	15.6.	 The Tenant shall not be entitled to make any use of the pavements, roads, yards, piers, roof and façades
of the Building and any other and/or public area situated outside the Leased Premises, within its meaning above, however solely for the purpose of these public areas are designated. The Landlord undertakes to provide to the Tenant generation
services in a capacity of up to 3 KWA. 

  

	 	(1)	 The common property, to the extent that there is any common property in the Building, shall mean – any of
the areas of the Building that is not designated for lease and/or sale by the Landlord (hereinafter: the “Common Property”). The Common Property is intended for the use of all tenants and/or users in the Building and not for the
exclusive use of the Tenant. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 51
 
 Unofficial English translation from Hebrew original 

 

	 	(2)	 The Tenant shall be entitled to use the Common Property solely according to the purposes and/or the objects
and/or the intended uses of the Leased Premises. The Landlord shall be entitled, from time to time and at its sole discretion, to permit to any third-party to use any part of the Common Property for the purposes set out by the Landlord, and provided
that the use of the Tenant in the Common Property according to the purpose for which these areas are designated will not be impaired thereby. 

For the avoidance of doubt it is clarified that even in the event the Landlord granted its approval to use any public areas as said, the
Tenant shall not be entitled to roof and/or fence and/or close in any manner these areas, however only after obtaining the prior and written approval of the Landlord and subject to the provisions set forth in any law, and after making all payments
and/or obtaining any certificate and/or permit by the Tenant, to the extent that these are required by the authorities. 
  

	 	(3)	 For the avoidance of doubt the Tenant is aware that it shall be entitled to use the areas of the Common
Property solely in accordance with the provisions set forth in any law and the provisions set forth in this Agreement. 

  

	 	15.7.	 Without derogating from the provisions set forth in Section 11.3.2 above, it is clarified and emphasized
that the following provisions shall also apply with respect to the addition of built areas in the Project: 

  

	 	(1)	 The Landlord shall be entitled, at its sole discretion, to add additional built areas on the Land and/or in the
Building, to the extent that the Urban Building Plans (UBP) that apply and/or that will apply to the Land permit such an addition, and the Tenant will not prevent and/or interfere and/or object to the addition of the built areas by the Landlord as
said, and provided that that they will not interfere with the reasonable use of the Tenant in the Leased Premises according to the Purpose of Lease and in such manner that the access to the Leased Premises at any time will be safe and reasonable and
that this will not impose on the Tenant any obligation of any kind. 

  

	 	(2)	 The Tenant declares and warrants that it will not prevent in any manner, whether directly or indirectly, and
will not submit any objection to any plan that will be submitted by the Landlord for the addition of built areas on the Land and/or in the Building, whether Urban Building Plans (UBP), whether a plan for building permits and whether any other plan,
and provided that the conditions set out in Section 15.7(1) above have been met. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 52
 
 Unofficial English translation from Hebrew original 

 

	 	(3)	 Canceled. 

  

	16.	 Licenses and permits  

 

	 	16.1.	 The Tenant declares and affirms that it inquired in the planning and building authorities and in the
municipality the valid UBP where the Building and the Leased Premises are situated (hereinafter: the “Plan”) and inspected the permitted uses of the Building and the Leased Premises in accordance with the Plan and/or according to
the building permit. After gaining all particulars relating to the applicable UBP in the premises, the Tenant decided to lease the Leased Premises from the Landlord according to the Purpose of Lease. 

If, as a result of the use that the Tenant makes and/or will make in the Leased Premises the Landlord receives a demand from the Local
Planning and Building Committee to pay a betterment levy, or non-conforming usage fees, the Tenant shall be obligated to pay directly to the Local Planning and Building Committee any amount the Landlord is
obligated to pay by the Local Planning and Building Committee, or return to the Landlord any amount as said that is paid by the Landlord to the Local Planning and Building Committee, and provided that the Landlord notifies the Tenant regarding any
suit and/or claim and/or demand made against it and will afford to the Tenant an opportunity to defend against such a demand. 
 The Tenant
declares that it is familiar with the business it intends to conduct in the Leased Premises and the conditions that are required for the purpose of obtaining the business license and the Tenant, as opposed to the Landlord, shall be solely
responsible and the Tenant undertakes to obtain all licenses, approvals and permits that are required or that will be required in accordance with the provisions set forth in any law for the purpose of conducting its business in the Leased Premises
according to the Purpose of Lease. Prior to signing the Agreement, the Tenant considered the option to obtain all licenses and/or approvals and/or permits as said and found them in compliance with its purposes and requirements. The Tenant shall
incur at its expense all payments that are required for the purpose of obtaining the said licenses or permits, including the performance of customizations in the 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 53
 
 Unofficial English translation from Hebrew original 

 

 
Leased Premises, if required for the purpose of obtaining the said licenses and permits. The Landlord shall not be held liable in any manner or form for obtaining the permits and/or the approvals
that are required for the purpose of obtaining a business license for the Leased Premises. The Landlord will agree, to the extent that this is required from the Landlord in accordance with the provisions set forth in any law as the owner and the
landlord of the Leased Premises and in accordance with the provisions set forth in any law, to submit an application for a business license and will sign any customary and reasonable form that is required for the purpose of this matter, and provided
that this shall not impose on the Landlord any financial or other liability. For the avoidance of doubt, to the extent that the Tenant fails to obtain any business license for its business in the Leased Premises in consequence of an act or omission
of the Tenant and/or in consequence of the non-conformance of the Tenant’s business and/or the use that the Tenant wishes to make in the Leased Premises to the provisions set forth in the UBP and the
provisions set forth in any law applicable to the Leased Premises, this shall not derogate from any of the undertakings of the Tenant in accordance with this Agreement, including the payment of the Rent and the maintenance fees. 

 

	 	16.2.	 The Tenant will extend on time any license and permit that are required for the purpose of conducting its
business in the Leased Premises in compliance with the Purpose of Lease and, in addition, the Tenant undertakes to present to the Landlord a copy from any license or permit as said, upon receiving the demand of the Landlord to that effect. If, for
any reason, the Tenant did not obtain a business license and not for a reason stemming from the Landlord and/or anyone acting on its behalf, the Tenant shall not be entitled to terminate this Agreement and this shall not release the Tenant from any
of his obligations in accordance with this Agreement. In such circumstances as said, the Landlord on its behalf shall be entitled to terminate the lease contemplated in this Agreement and the Tenant shall be exempt from paying all payments the
Tenant is obligated to pay in respect of the Leased Premises until expiration of the Term of Lease contemplated in this Agreement. 

  

	 	16.3.	 The Tenant shall be responsible for obtaining at its expense a permit for the signs the Tenant wishes to place
in the Leased Premises and pay any levy in respect whereof. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 54
 
 Unofficial English translation from Hebrew original 

 

	 	16.4.	 Failure to obtain such a license or permit as said shall not give rise to grounds justifying failure by the
Tenant to fulfill its undertakings in accordance with the Agreement and the Landlord shall be entitled, however not obligated, in the event of failure in such manner that will cause the submission of indictments and/or reports and/or fines and/or
the issuance of shutdown orders (whether administrative and whether judicial) in respect of the Leased Premises, to terminate the Agreement and demand from the Tenant, in addition to any other relief in accordance with the Lease Agreement and the
law, payment for all the damages caused to the Landlord as a result of the breach, and provided that the Landlord notifies the Tenant regarding any claim and/or demand and/or suit brought against it, will afford the Tenant an opportunity to defend
against it, will not settle in such a proceeding without obtaining the prior and written approval of the Landlord and that the damages shall be paid according to a peremptory judgment. 

 

	 	16.5.	 The Tenant shall incur in person any fine or penalty imposed in respect of the management of the business
and/or the use of the Leased Premises by the Tenant and/or its employees and/or agents and/or customers without a permit or in violation of a permit, whether imposed on the Landlord or the Management Company and whether imposed on the Tenant, and
provided that the Landlord notifies the Tenant regarding any claim and/or demand and/or suit referred against it, will afford the Tenant an opportunity to defend against it, will not settle in such a proceeding without obtaining the prior and
written approval of the Landlord and that the damages will be paid according to a peremptory judgment. 

  

	 	16.6.	 The Tenant undertakes to observe at its expense and under its responsibility during the entire Term of Lease,
and without receiving any demand or reminders from the Landlord, the entire provisions set forth in the law regarding the setting up of the business in the Leased Premises, including its use and management. Without derogating from the generality of
the aforesaid, the specific provisions set forth hereunder shall apply with respect to the aforesaid. 

  

	 	16.7.	 The Tenant undertakes that, to the extent that this is required in accordance with the law, it will act in
accordance with the provisions set forth in the Placement of Resuscitation Machines in Public Places Law, 5768- 2008. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 55
 
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	 	16.8.	 To the extent that the Tenant is bound by law to make the Leased Premises accessible to disabled persons, the
Tenant shall be solely obligated to act in the said manner and at its expense, and the Landlord shall not be responsible for the purpose of this matter in any manner, as opposed to the obligation to make the Building and the Project accessible to
disabled persons that will be imposed on the Landlord. 

  

	 	16.9.	 The Tenant undertakes to install in the Leased Premises, at its expense and under its responsibility, a fire
safety system including sprinklers, and any other equipment that is required (hereinafter: the “Fire Safety System”) according to the demands made by the National Fire and Rescue Authority and in accordance with the provisions set
forth in any law expressly, and after obtaining the approval of the Standards Institution of Israel. 

  

	 	16.10.	 The Tenant undertakes to install in the Leased Premises a fire detection system (hereinafter: the
“Detection System”) that will be connected directly to the fire department call center and to other entities on behalf of the Tenant. It is hereby clarified that the undertaking of the Tenant as set out in this sub-section is an independent undertaking and will also apply in circumstances in which the Landlord installed (whether inside or outside the Leased Premises) a Fire Detection System connected to a control panel
that will also connect to other detection systems that the company will install in other leased premises and/or in public areas in the Land (hereinafter: the “Main System”) and this will not impose on the Landlord any liability in
connection therewith, and without derogating from the undertakings of the Tenant as stated in the first part of this sub-section, and the Landlord shall be entitled, however not obligated, to demand that in
addition to the connection to the fire department center (and other entities on its behalf) the Tenant will also connect the Detection System also to the main system. Without derogating from the other provisions set forth in this Agreement, the
Tenant undertakes to act for the purpose of providing proper maintenance to the fire protection and fire detection systems and the Tenant hereby releases the Landlord and anyone acting on its behalf from any liability for any damage caused to the
Leased Premises and/or their content and/or to the equipment and/or to any person and/or corporation including to its employees and/or to the Landlord and/or to anyone acting on its behalf and/or to the other lessees and/or tenants in the Land
and/or to any other person, as a result of a malfunction and/or a non-conformance in the Fire Protection System and/or in the Fire Detection System, provided that the malfunction was not caused for reasons
depending on the main system or on the Landlord and/or anyone acting on its behalf. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	 	16.11.	 For the avoidance of doubt it is hereby clarified that the connection to the main system as stated in sub-section 16.10 above shall not derogate from the obligations of the Tenant and the exemption granted in accordance with the provisions set forth in this sub-section, and
shall not impose any responsibility and/or liability on the Landlord towards the Tenant in respect of any damage caused to the Leased Premises and/or to their content and/or to the equipment and/or to any other person and/or corporation including to
its workers and/or to the Landlord and/or to anyone acting on its behalf and/or to the other tenants and/or lessees in the Land and/or to any other person as a result of a malfunction and/or non-conformance in
the Fire Protection System and/or the Fire Detection System and/or the main system, unless these occurred as a result of an act and/or omission of the Landlord and/or the Management Company and/or anyone acting on their behalf.

  

	 	16.12.	 As a condition for the operation of the Leased Premises according to the Purpose of Lease by the Tenant, the
Tenant shall conduct at its expense an inspection of the working order of the Fire Protection and the Fire Detection Systems in the Leased Premises only, within their meaning in Section 16.10, and will provide to the Landlord the written
approval of the National Fire and Rescue Authority and the Standards Institution of Israel regarding the working order of the Fire Protection and the Fire Detection systems in the Leased Premises and all other safety issues as required by them as a
condition for the occupancy of the Leased Premises. The Tenant will take measures at its expense to obtain all necessary approvals from the National Fire and Rescue Authority and/or the Standards Institution of Israel and/or any other authority
whose approval is required in accordance with the law regarding the working order of the Fire Protection System and to the extent that an approval on behalf of the National Fire and Rescue Authority for the occupancy of the Leased Premises is
required, the Tenant undertakes to obtain the said approval as well. The Tenant declares that it is aware that the breach of the said undertaking by the Tenant shall constitute a fundamental breach of this Agreement. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	 	16.13.	 Without derogating from the provisions set forth in this Section, the Tenant undertakes to observe, at its
expense, the entire instructions of the National Fire and Rescue Authority as delivered from time to time and in accordance with the National Fire and Rescue Authority Law and/or in accordance with any law and it is hereby clarified expressly that
in the event the Tenant fails to observe any of the aforesaid provisions the Landlord shall be entitled, however not obligated, to perform in its name and under its responsibility everything required as said, at the Tenant’s expense, and the
Tenant undertakes to compensate and indemnify the Landlord promptly for the entire expenses the Tenant incurred for the performance of the said actions as said, in the event the Landlord performed the required work in lieu of the Tenant and subject
to the presentation of invoices. In the event the Landlord acted as said, subject to the criterion of reasonableness this shall not derogate from the liability imposed on the Tenant with respect to the fire detection and fire protection systems
and/or impose any liability on the Landlord and/or anyone acting on its behalf in anything associated therewith. 

  

	 	16.14.	 For the avoidance of doubt it is clarified that the Tenant shall be solely obligated to obtain all approvals
and/or permits as stated above and/or that are required in accordance with the provisions set forth in any law as a result of the use of the Leased Premises and the Landlord and/or anyone acting on its behalf do not and will not be held liable in
connection therewith, even if the Landlord did not claim its right to obtain the said approvals and/or permits as said and the Tenant shall be precluded from raising any claim and/or demand and/or suit against the Landlord and/or anyone acting on
its behalf in connection therewith, and provided that the preclusion preventing the issuance of the approval did not stem from circumstances depending on the Landlord and/or anyone acting on its behalf. The Landlord undertakes to deliver to the
Tenant any approval and/or permit that is in its possession and that is demanded by the authorities as a supplemental approval for obtaining the approvals and the permits. 

 

	17.	 Liability and indemnity  

 

	 	17.1.	 The Tenant, and solely the Tenant, as opposed to the Landlord, shall be held liable for the protection of the
Leased Premises and their content, and shall be held liable in accordance with any law towards any person and/or entity and/or authority for any damage, loss, failure or injury (hereinafter in this Section 17, including sub-sections thereof: “Damage”) caused to the body and/or to the property in the Area of the Leased Premises and/or in consequence of the use of the Leased Premises and/or as a result of

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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conducting its business (in the Leased Premises and outside the Leased Premises) and for any Damage caused in connection with the possession in the Leased Premises and/or use thereof and/or in
consequence of an act or omission the Tenant and/or anyone acting on its behalf commits in the Area of the Leased Premises and/or in the area of the Project and the Building – whether committed by the Tenant and whether committed by anyone
acting on its behalf, including its workers, agents, contractors, suppliers, visitors and/or any other person on its behalf and/or with its permission. 

It is hereby agreed and declared expressly that the Landlord shall not be held liable in any manner for the Tenant and/or anyone acting on its
behalf for any Damage that is caused, if caused, to the property and/or to the business of the Tenant and anyone staying therein, and for any Damage to the Leased Premises and all, without derogating from the generality of the aforesaid – also
indirect and consequential loss, except for Damage caused by an act and/or omission of the Landlord and/or anyone acting on its behalf. 

For the avoidance of doubt, it is clarified that everything stated in this Section 17.1 above also constitutes a provision in favor of a
third-party, within the meaning of this term in Chapter D of the Contracts Law (General Part) 5733-1973 when the said third-party is the Management Company. 
  

	 	17.2.	 Any activity that is held and/or that is performed in the Leased Premises shall be performed under the sole
responsibility of the Tenant and the Landlord will have no connection and/or responsibility and/or liability for such an activity as said, except for the liabilities of the Landlord and/or the Management Company in accordance with the provisions set
forth in this Agreement and/or in accordance with the provisions set forth in any law. Without derogating from the generality of the aforesaid the Tenant shall be held liable in accordance with the provisions set forth in any law for any Damage and
for any other responsibility in consequence of the breach or the partial fulfillment of the provisions set forth in any law and/or license and/or permit in connection with the use of the Leased Premises by the Tenant, including its employees,
agents, contractors, suppliers, visitors and/or any other person acting on its behalf and/or with its permission. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	 	17.3.	 Without derogating from the rights of the Landlord in accordance with the provisions set forth in this
Agreement and/or in accordance with the provisions set forth in any law, the Tenant undertakes to compensate and indemnify the Landlord and/or anyone acting on its behalf and/or the Management Company in respect of any expense and/or loss caused to
any thereof in consequence of an act or omission of the Tenant and/or anyone acting on its behalf in consequence of an event for which the Tenant is held liable as stated in Sections 17.1 or 17.2 above and/or for the full amount that the Landlord
and/or the Management Company paid or incurred in connection with the Damage, within its meaning above, and all legal expenses that the Landlord and/or anyone acting on its behalf and/or the Management Company incurred in connection with a lawsuit
and/or in connection with a defense in a lawsuit as said in consequence of the Damage and/or expenses for legal actions commenced by the Landlord in consequence of breach of any of the undertakings of the Tenant in accordance with the provisions set
forth in this Agreement and/or in accordance with the provisions set forth in any law and all on the condition that the Landlord notified the Tenant regarding such a lawsuit as said within a reasonable time after learning about the said lawsuit and
on the condition that it afforded to the Tenant an opportunity to defend against the said lawsuit, whether by its addition as a third-party in the said lawsuit, whether by its inclusion in the defense of the Landlord against the lawsuit, whether by
affording to the Tenant an opportunity to defend against the lawsuit on behalf of the Landlord, and did not settle in the said lawsuit without obtaining the prior and written approval of the Tenant and that the said indemnity and/or the damages
shall be paid in accordance with a peremptory judgment (hereinafter collectively: the “Conditions for Indemnity”). 

  

	 	17.4.	 The Tenant, as opposed to the Landlord, shall be solely liable, in accordance with the provisions set forth in
any law, for any bodily injury and/or damage to property caused in connection with its negligence and for any wrong committed in connection with the possession in the Leased Premises and/or the use made therein, except for Damage caused by the
Landlord and/or anyone acting on its behalf. 

  

	 	17.5.	 The Tenant shall indemnify the Landlord and/or the Management Company in respect of any Damage and/or suit
and/or obligation the Landlord and/or the Management Company will be obligated to pay in connection with Damage and/or a wrong committed in the Leased Premises and/or in connection with and/or stemming from the possession in the Leased Premises
and/or in connection with the use made therein and for which the Tenant is held liable as stated in Sections 17.1 and 17.2 above, and all immediately upon receiving the first written demand of the Landlord and subject to the Conditions of Indemnity
set out in Section 17.3 above. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	 	17.6.	 For the avoidance of doubt it is hereby clarified that the said in this Section shall not impose on the Tenant
any liability for bodily injury and/or damage to property caused in consequence of an act and/or omission of a third-party and/or damages for which the Tenant is not held liable in accordance with the provisions set forth in any law.

  

	 	17.7.	 The parties agree and declare expressly that the Landlord shall not be held liable in any manner towards the
Tenant for Damage caused to the Tenant’s property and/or to the Tenant’s business for any reason and, without derogating from the generality of the aforesaid, also indirect and consequential loss, except for Damage caused deliberately by
the Landlord and/or Damage in respect of which it is proven that it stems from acts and/or omissions of the Landlord and/or anyone acting on its behalf. 

  

	18.	 Insurance  

Without derogating from the liability of the Tenant in accordance with the provisions set forth in this Agreement and/or in accordance with the
provisions set forth in any law, the Tenant shall be responsible for taking out and maintaining during the entire Term of Lease all the insurances in accordance with the entire requirements laid down in the Insurance Appendix hereby attached to this
Agreement as an integral part thereof and marked as Appendix E. 
  

	19.	 Additions and modifications  

The Tenant shall not be entitled to perform any modifications or additions in the Leased Premises that constitute fixtures, whether interior or
exterior modifications, or any additions, whether interior or exterior modifications that require the issuance of a building permit and/or a constructive modification in the drawings including the common systems in the Building without obtaining the
prior and written approval of the Landlord, which approval shall not be unreasonably withheld (hereinafter: “Modifications and Additions”). 

The performance of the Modifications and Additions is stipulated on the condition that the Modifications and Additions will be performed by
lawfully licensed contractors, and to the extent that the Modifications require a building permit and/or a permit issued by a competent authority the Modifications will be performed only in accordance with the requirements laid down by the competent
authorities and after obtaining a building permit in accordance with the law. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	20.	 Transfer of rights  

 

	 	20.1.	 The Tenant shall not be entitled to assign and/or transfer and/or perform a transaction and/or endorse in any
other manner its rights and/or obligations in connection with this Agreement, in whole or in part without obtaining the prior, express and written approval of the Landlord, which approval shall not be unreasonably withheld. 

Notwithstanding the aforesaid, it is clarified that the Tenant shall be entitled at any time and without obtaining the prior and written
approval of the Landlord, to transfer rights in the Leased Premises and rights in accordance with the Agreement, and permit any use of the Leased Premises or any part thereof to others, within the framework of a sale or transfer of shares in the
Tenant, activities and/or assets of the Tenant, in whole or in part, whether by way of a sale, assignment, reorganization or merger, and provided that the new legal entity that is formed instead of the Tenant will step in and take over the Tenant in
this Agreement. 
 In addition, the Tenant shall be entitled to transfer its rights in accordance with this Agreement, in whole or in part,
or permit the use of the Leased Premises or any part thereof, to any parent company and/or subsidiary and/or a related company, within the meaning of these terms in the Securities Law 5728-1968, without obtaining the prior and written approval of
the Landlord. 
 It is further agreed that the Tenant shall be entitled to lease the Leased Premises, in whole or in part, to a sublessee,
subject to obtaining the prior and written approval of the Landlord, which approval shall not be unreasonably withheld. 
 In addition, the
Tenant shall be entitled to transfer its rights and obligations in accordance with this Agreement to a substitute lessee who will sign this Agreement and who will step in and take over the Tenant in this Agreement, and provided that the Landlord
approves the in advance and in writing the identity of the Landlord. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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 Breach of the provisions set forth in this Section 20.1 shall constitute a fundamental
breach of the Agreement. 
  

	 	20.2.	 The Landlord and/or anyone acting on its behalf shall be entitled to assign and/or perform a transaction and/or
sell and/or rent and/or lease and/or charge and/or pledge and/or transfer and/or endorse in whole or in part its rights and/or obligations in accordance with this Agreement, in whole or in part, without obtaining any approval from the Tenant in
connection therewith, and all on the condition that the rights of the Tenant in accordance with this Agreement shall not be impaired thereby and that the Tenant shall not be subject to additional obligations as a result of such actions. The Tenant
undertakes to fulfill its entire undertakings as stated in the Agreement towards anyone that steps in and takes over the Landlord as said (hereinafter: the “Transferee”) unconditionally, and the Tenant undertakes to cooperate with
the Landlord and/or with the Transferee and sign any document and/or declaration, to the extent required, if required by the Landlord for the purpose of approving and/or performing the said in this Section, including, and without derogating from the
generality of the aforesaid the replacement of the entire collaterals that the Tenant provided to the Landlord and their replacement with collaterals in the name of the Transferee, to the extent that this is demanded by the Landlord, and all on the
condition that the rights of the Tenant in accordance with this Agreement shall not be impaired thereby and that the Tenant will not be subject to additional obligations in connection therewith. This condition is a fundamental condition in this
Agreement. 

  

	21.	 Reliefs and remedies  

 

	 	21.1.	 None of the provisions set forth in this Agreement shall be construed as derogating from the rights of any of
the parties to this Agreement in accordance with the provisions set forth in the Contracts Law (Remedies for Breach of Contract), 5731-1970. 

  

	 	21.2.	 Without derogating from its right to seek any other relief and/or remedy and/or to seek damages for a higher
amount, in the event of a fundamental breach of this Agreement by the Tenant that was not cured in accordance with the provisions set forth in this Agreement, the Landlord shall be entitled to pre-estimated
liquidated damages in an amount in new Israeli shekels 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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equal to the Rent for 2 months of lease, when the amount that will be paid will be linked to the Basic Index until its actual payment date (hereinafter: the “Liquidated
Damages”), whether the Landlord opted to perform the Agreement and whether the Landlord opted to terminate the Agreement as a result of such a breach as said. 

The parties declare that after making the necessary calculations the parties find that the Liquidated Damages constitute reasonable and
adequate compensation and payment for the damage caused to the Landlord in consequence of the breach and in consequence of handling its consequences. 

“Fundamental breach” in this Agreement shall mean – a breach in respect of which it is stated explicitly in the Agreement that
it is a fundamental breach. This condition is a fundamental condition in this Agreement. 
  

	 	21.3.	 Without derogating from any other provision set forth in this Agreement, it is agreed that breach of any of the
provisions set forth hereunder shall be deemed as a fundamental breach: 

 Default in any of the payments the Tenant is
obligated to pay in accordance with the provisions set forth in this Agreement to the Landlord and/or to the Management Company and/or to anyone acting on their behalf, for a period greater than 14 (fourteen) days and/or a default as said for a
period of 7 days, however for more than three times during any year of lease (that will be counted as of the Lease Commencement Date henceforth – in each whole calendric year) (hereinafter: the “Year of Lease”). 

 

	 	21.4.	 It is clarified that without derogating from any other provision in this Agreement – even in the event the
Tenant terminates the operation of the business in the Leased Premises for any reason prior to the expiration of the Term of Lease, the Tenant shall be obligated to pay all payments applicable to the Tenant by virtue of this Agreement on time,
without exception, until the expiration of the Term of Lease. 

  

	 	21.5.	 Notwithstanding and despite any provision in the Agreement in connection with the Term of Lease and without
derogating from the foregoing, the Landlord shall be entitled to terminate the Agreement, demand from the Tenant to vacate the Leased Premises forthwith by delivery of a thirty (30) days’ prior notice (hereinafter: the “Termination
Notice”) and return full possession in the Leased Premises to the Landlord, upon the occurrence of any of the following events: 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	 	21.5.1.	 The Tenant committed a fundamental breach of this Agreement and failed to cure the breach in 14 days as of the
date of receiving a written notice from the Landlord. 

  

	 	21.5.2.	 The Tenant committed a breach other than a fundamental breach of this Agreement and failed to cure the breach
or failed to take action to cure the breach in 21 days as of the date the Tenant received a written demand from the Landlord to that effect. 

  

	 	21.5.3.	 The Tenant or any member thereof, as the case may be, died and/or a motion was submitted in a competent court
for the liquidation of the Tenant and/or for a declaration of the Tenant as bankrupt and/or for the appointment of a trustee and/or a liquidator and/or a temporary liquidator and/or a receiver (for the Tenant or for any of its primary assets) and/or
a special administrator and/or a stay of proceedings against the Tenant and/or the imposition of an attachment on a material part of its assets, and the motion was not dismissed or withdrawn in 90 days from the date of its submission.

  

	 	21.6.	 In the event a Termination Notice of this Agreement was delivered upon the occurrence of any of the aforesaid
events, the following provisions shall apply, inter alia: 

  

	 	21.6.1.	 The Landlord may take possession in the Leased Premises and act in accordance with the provisions of the law
for the purpose of this matter. 

  

	 	21.6.2.	 Canceled. 

  

	 	21.6.3.	 The Tenant undertakes to return to the Landlord and to the Management Company, immediately after making a
decision to that effect based on a peremptory judgment, all expenses, damages and losses caused to them as a result of breach of the Agreement by the Tenant and as a result of the said breach including, and without derogating from the generality of
the aforesaid, legal expenses, attorney fees, accountant fees and the fees of any other professional as said, and all assisted in the peremptory judgment as said. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	 	21.6.4.	 Subject to the lawful termination of this Agreement, the Tenant shall have no right to defend in any manner
and/or try and delay or prevent an engagement between the Landlord and any other tenant and/or try and prevent or delay the lease of the Leased Premises to any other substitute tenant or any other tenant. The aforesaid provisions shall apply both to
the relationship between the Landlord and the Tenant and the relationship between the Tenant and the substitute tenant, and shall be deemed, inter alia, as contractual provisions made in favor of a third-party, within the meaning of this term
in Chapter D of the Contracts Law (General Part) 5733-1973. 

  

	 	21.7.	 Without derogating from any relief and/or remedy and/or right granted to the parties to the Agreement in
accordance with the Agreement and/or in accordance with the provisions set forth in any law, the parties agree that any default in payment by any party and that is greater than 7 days shall carry Interest in Arrears within its meaning in
Section 1 of the Agreement, calculated on daily basis, as of the first day of the default. 

  

	 	21.8.	 Canceled. 

  

	 	21.9.	 Any waiting period, a delay, waiver or avoidance from exercising any right by any of the parties in accordance
with this Agreement and/or an attempt by that party to reach settlement or an arrangement with the other party shall not be deemed in any circumstances and in any case as waiver or as grounds for an argument of preclusion against the other party,
and these shall not constitute precedent and/or waiver in advance with respect to similar or other circumstances in the future. 

  

	 	21.10.	 This Section including all sub-sections thereof constitutes a material
and fundamental section in this Agreement. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	22.	 Vacating the Leased Premises  

 

	 	22.1.	 The Tenant undertakes that immediately upon expiration of the Term of Lease or upon the lawful termination of
this Agreement for any reason (hereinafter: the “Evacuation Date of the Leased Premises”) the Tenant will vacate the Leased Premises and will deliver possession therein to the Landlord when the Leased Premises are free from any
person and article owned by the Tenant and subject to natural and reasonable wear. The Leased Premises will be delivered to the Landlord when they include any renovation, improvement, addition, repair or fixture therein even if these were installed
and/or added to the Leased Premises by the Tenant at its expense, including air-conditioning systems, mechanical systems, electrical systems etc. subject to the provisions of Section 19 above.

 For the avoidance of doubt it is clarified that any object and/or equipment and/or accessories and/or inventory that
are not part of the Landlord’s property in accordance with this Agreement and that are left in the Leased Premises after the Leased Premises are vacated by the Tenant shall become the property of the Landlord for no payment after the Tenant
vacates the Leased Premises. 
  

	 	22.2.	 The Tenant undertakes that in the event it does not vacate the Leased Premises on the Evacuation Date of the
Leased Premises and not for a period of 7 (seven) additional days, the Tenant will pay to the Landlord for the period between the Evacuation Date of the Leased Premises and the actual evacuation date an amount equal to the multiple of two months of
the Rent in respect of each month or any part thereof according to its relative part, during the period the Tenant does not vacate the Leased Premises. The Tenant declares that this amount was set and was agreed between the parties as pre-estimated liquidated damages that the parties set after applying their judgment as the reasonable amount of the damage caused to the Landlord as a result of failure to vacate the Leased Premises on the
Evacuation Date of the Leased Premises. 

 For the avoidance of doubt the Tenant declares that the said in this Section
shall be without prejudice to any right of the Landlord and any payment made in accordance with this Section will not release the Tenant from its obligation to vacate the Leased Premises. 

 

	 	22.3.	 The Tenant declares and warrants that in the event it fails to vacate the Leased Premises on the Evacuation
Date of the Leased Premises the Landlord and/or the Management Company shall be entitled, in addition to the reliefs granted to them under Section 22.2, in accordance with the 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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Agreement and in accordance with the provisions set forth in any law, to claim from the Tenant the entire sums that the Tenant is obligated to pay in accordance with this Agreement as if the Term
of Lease continued, and without prejudice to the obligation of the Tenant to vacate the Leased Premises. 

  

	 	22.4.	 For the avoidance of doubt, the Tenant declares that payment and/or receipt of adequate usage fees and/or
payments made under Section 22.3 above shall not create a relationship of lease between the parties with respect to the period after the Evacuation Date of the Leased Premises. 

 

	 	22.5.	 The Tenant declares that in any event it fails to vacate the Leased Premises in person, on the Evacuation Date
of the Leased Premises and not even after receiving a 14 (fourteen) days’ additional written notice, the Landlord and/or anyone acting on its behalf shall be entitled to enter the Leased Premises and remove any person and article related to the
Tenant and/or used by the Tenant at the absolute and sole discretion of the Landlord. 

  

	 	22.6.	 Canceled. 

  

	 	22.7.	 The Tenant declares that the Landlord and/or anyone acting on its behalf shall not be held liable in any manner
for any damage of any kind caused to the Tenant, if caused, as a result of any activity related to the eviction of the Tenant and/or the removal of the equipment and the property from the Leased Premises and/or the storage of the equipment and the
property that were made as a result of failure by the Tenant to vacate the Leased Premises on time and in contravention of the provisions set forth in this Agreement. 

 

	 	22.8.	 Upon expiration of the Term of Lease or upon the termination of this Agreement for any reason the Landlord and
the Tenant will perform a final settling of accounts. 

 For the purpose of performing the final settling of accounts the
Tenant will provide to the Landlord a certificate issued by any municipal and/or governmental and/or other authority and/or from any other entity in respect of which the Tenant undertook directly to make different payments, or receipt in the event
it is impossible to obtain an approval from the said entity, proving that as of the expiration date of the Term of Lease the Tenant made all payments relating to the Term of Lease including principal and/or interest and/or linkage differentials
and/or fines and/or any other debt in respect of the said period. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
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	23.	 Collateral  

For the purpose of assuring the timely fulfillment of the entire undertakings of the Tenant in accordance with the Agreement, and without
derogating from the entire undertakings of the Tenant in the Agreement, and without derogating from any relief and/or remedy and/or right granted to the Tenant in accordance with the provisions set forth in this Agreement and/or in accordance with
the provisions set forth in any law, the Tenant will provide the entire collateral to the Landlord on the following dates, as follows: 
  

	 	23.1.	 Canceled. 

 

	 	23.2.	 Autonomous bank guarantee  

On the Delivery Date as said, and as a condition for delivery of possession as said the Tenant will provide to the Landlord on the Delivery
Date an autonomous bank guarantee in the form attached as Appendix G (hereinafter: the “Bank Guarantee”). 

Without derogating from the said in Appendix G, as said, the entire following provisions will apply to the Bank Guarantee: 

 

	 	23.2.1.	 The Bank Guarantee will be autonomous, unconditional, assignable to a third-party that will purchase the Leased
Premises solely from the Landlord, made in favor of the Landlord as a beneficiary, payable in installments, duly stamped at the Tenant’s expense and in effect during the entire Term of Agreement and up to 60 days after expiration of the Terms
of Lease. The amount of the Bank Guarantee as said will be an amount equal to the monthly Rent (including the Rent for the Parking Spaces) and the management fees/maintenance fees and VAT in respect whereof, within their meaning in Section 14
above for a period of 6 (six) months, when the guarantee amount as said is linked to the Index starting from the Basic Index and up to the Index known on the actual payment date. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 69
 
 Unofficial English translation from Hebrew original 

 

 It is clarified that the Tenant shall incur at its sole expense any commission and/or
expense and/or payment in respect of the issuance and/or the extension and/or the maintenance of the Bank Guarantee. 
  

	 	23.2.2.	 In the event the Agreement is extended and applies also in additional Terms of Lease the Tenant will provide to
the Landlord the Bank Guarantee for the additional relevant Term of Lease in the form and under conditions that are identical to the Bank Guarantee that was provided in connection with the Term of Lease that preceded it. 

 

	 	23.2.3.	 In the event the Tenant breaches any fundamental provision of the provisions set forth in the Agreement,
including, but not limited to, in circumstances in which any overdue payment is due from the Tenant to the Landlord (including, and without derogating from the generality of the aforesaid, sums for an undertaking made by the Tenant to indemnify the
Landlord) the Landlord shall be entitled to present the Bank Guarantee for payment, in whole or in part (at its discretion) after delivery of written notice to the Tenant at least 14 days in advance, and as long as the Tenant did not cure the breach
during this period, without derogating from any relief and/or remedy and/or right granted to the Landlord in accordance with the provisions set forth in this Agreement and/or in accordance with the provisions set forth in any law, and all at the
absolute and sole discretion of the Landlord. 

  

	 	23.2.4.	 It is clarified that in the event the Landlord realizes the Bank Guarantee as stated above the Tenant shall be
obligated to deposit with the Landlord a new Bank Guarantee under terms and for an amount that is identical to the amount that was forfeited (linked to the Index), in 7 days as of the date the Landlord presented the Bank Guarantee for payment as
said. 

  

	 	23.2.5.	 To the extent that the Tenant provided a Bank Guarantee that is in effect for a period that expires before the
expiration of the Term of Lease, the Tenant shall be responsible for extending the effect of the Bank Guarantee from time to time and provide the extended guarantee or its amendment in their original form to the Landlord

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 70
 
 Unofficial English translation from Hebrew original 

 

	 	
without receiving any demand or a reminder from the Landlord to that effect. In the event the Tenant failed to act in the said manner, during a period of 14 days prior to the expiration date of
the guarantee, the Landlord shall be entitled to deliver a demand for the forfeiture or the extension of the effect of the guarantee to the bank that issued the guarantee. 

 

	 	23.3.	 Promissory note  

 

	 	23.3.1.	 At the time of signing this Agreement the Tenant will provide to the Landlord a negotiable, index-linked
(without personal guarantors) promissory note, in the form attached as Appendix H, in an amount equal to the amount of the Rent for the Parking Spaces and management fees/maintenance fees and VAT in respect whereof for a period of 12
months, when the said promissory note will be blank (hereinafter: the “Promissory Note”). The Landlord and/or the Management Company shall be entitled to fill in the payment date and the redemption date in the Promissory Note and
submit the note for its collection and/or to the Execution Office and/or to negotiate with the note without limitation in any event in which the Tenant breaches the Agreement and/or the Management Agreement and/or in any event in which any payments
are due to the Landlord and/or the Management Company that were not fully paid and/or timely paid (including and without derogating from the generality of the aforesaid, sums for the undertaking of the Tenant to indemnify the Landlord). In addition,
the Promissory Note will serve for the purpose of assuring payment of the debts and the payments of the Tenant to third-parties such as Rehovot Municipality and/or Israel Electric Corp. and/or the municipal water corporation etc. without derogating
from any relief and/or remedy and/or right the Landlord and/or the Management Company may seek in accordance with the provisions set forth in this Agreement and/or in accordance with the provisions set forth in any law, and all at the absolute and
sole discretion of the Landlord and/or the Management Company. It is agreed that the Promissory Note will be used only after delivery of written notice to the Tenant at least 14 days in advance, and as long as the breach was not cured during this
period. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 71
 
 Unofficial English translation from Hebrew original 

 

 In the event the amount collected by the Landlord in the realization of the Note is greater
than the amount due to the Landlord in accordance with the Agreement in addition to collection expenses, the Landlord will keep the balance as a security in lieu of the Note until the security is no longer required, and shall be entitled to recover
from the balance any amount due to it from the Tenant afterwards. 
  

	 	23.3.2.	 It is clarified that in the event the Landlord uses the Promissory Note in one of the manners as stated in
Section 23.3.1 above, the Tenant shall be obligated to deposit with the Landlord a new Promissory Note under terms and for an amount that are identical to the forfeited amount, in 7 days as of the date in which the Landlord made any use of the
Note as said. 

  

	 	23.3.3.	 The provision of the Promissory Note shall not be deemed as payment and only after the Promissory Note is fully
paid-up the payment and/or any other amount that the Tenant owes shall be deemed as fully paid-up. The Tenant releases the Landlord and the Management Company from the
obligations of the holder of the note. 

  

	 	23.3.4.	 The Promissory Note will be returned to the Tenant on the date the Tenant receives the Bank Guarantee.

  

	 	23.4.	 In any event in which any of the collaterals that was provided by the Tenant to the Landlord under this
Agreement is forfeited, the Tenant shall be obligated, in 30 days as of the forfeiture date of the security, to provide another identical security, for the full amount of the forfeited amount (hereinafter: the “Supplemental
Security”). In the event the Supplemental Security was not provided in accordance with the provisions set forth above, this shall constitute a fundamental breach of this Agreement by the Tenant. 

 

	 	23.5.	 The collaterals will be returned to the Tenant on the date that will be the earlier of the following two dates:
(1) 60 days after the termination date of this Agreement and/or the expiration of the Term of Lease, as the case may be; (2) on the date the Tenant provides to the Landlord proof confirming that the Tenant made all payments it was obligated to
pay in accordance with the provisions set forth in this Agreement until the Evacuation Date of the Leased Premises and returned the Leased Premises to the Landlord in accordance with the provisions set forth in this Agreement. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 72
 
 Unofficial English translation from Hebrew original 

 

	 	23.6.	 It is clarified that the entire collaterals stated in this Section above are delivered cumulatively to the
Landlord and are autonomous and independent. 

  

	24.	 Inapplicability of tenancy protection laws  

The parties agree that the provisions set forth in the Tenant Protection Law [Consolidated Version] 5732-1972 and other tenancy protection laws
including their regulations and orders (hereinafter: the “Law”) shall not apply to the lease contemplated in this Agreement and that any law that confers on the Tenant the status of a protected tenant or that entitles the Tenant not
to vacate the Leased Premises in circumstances and on dates in which the Tenant is obligated to vacate the Leased Premises in accordance with this Agreement shall not apply to the Leased Premises and/or this Lease Agreement. 

The parties declare explicitly and confirm that the Leased Premises are situated in the building whose construction was completed after
August 20, 1968 and that this lease is made under the express condition that the Law will not apply to the lease. The Tenant declares that it did not pay and will not pay to the Landlord any key money in connection with this Agreement or any
other consideration other than the Rent and that the Tenant or anyone acting on its behalf including any member thereof and/or shareholders therein shall not be a protected tenant in the Leased Premises in accordance with the provisions set forth in
any law and the Tenant shall be precluded from bringing any suits or claims in connection with protect tenancy or that the Tenant has in the Leased Premises more rights than the rights conferred on the Tenant expressly in this Agreement. 

The Tenant declares that any investment that the Tenant will make in the Leased Premises and/or in the Commercial Center, including equipment
and facilities and including its part in the air-conditioning system will be made solely for the Tenant’s purposes and the Tenant shall be precluded from arguing that the said investments constitute key
money or substitute key money or payment made under Section 82 of the said Law or any payment conferring on the Tenant any rights in the Leased Premises and that the Tenant shall be precluded from demanding from the Landlord any participation
or reimbursement, in whole or in part, in respect of the said investments. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 73
 
 Unofficial English translation from Hebrew original 

 

 It is further agreed that the parties hereto do not intend to create a relationship of
protected lease in accordance with tenancy protection laws and that this declaration of the parties is a prerequisite for obtaining the Landlord’s approval of this Agreement. 

 

	25.	 Fulfillment of undertakings in lieu of another party  

Whenever one of the parties to this Agreement is obligated to perform any action or work or pay any payment and the said party (hereinafter:
the “Breaching Party”) did not perform the action or the work or made the said payment until the date set for that purpose in this Agreement, the other party shall be entitled, however not obligated, to perform the action or the
work or make the payment in lieu of the Breaching Party and at the expense of the Breaching Party, whether by itself and whether by others. In such circumstances as said the Breaching Party shall be obligated to pay immediately upon receiving the
demand of the executing party (the other party) all sums or losses or damages that the other party paid or incurred in connection with the performance of the action or the work or the payment as said in addition to the Interest in Arrears, within
its meaning above, as of the date the other party incurred the expense and until the full amount is actually returned to the other party (principal in addition to Interest in Arrears). 

 

	26.	 Canceled 

 

	27.	 Miscellaneous  

 

	 	27.1.	 This Agreement including Appendixes thereof expresses fully and exclusively the entire relationship, rights and
obligations between the Landlord and the Tenant. 

  

	 	27.2.	 Upon signing this Agreement, that constitutes the entire and binding agreement between the parties hereto, any
prior agreement and/or written agreement and/or declaration and/or prospect and/or assurance and/or covenant and/or representation and/or publication that were made prior to the signing hereof, if and to the extent that made by the Landlord or its
representatives or anyone acting on its behalf, are hereby null and void and the Landlord shall not be bound by any thereof. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 74
 
 Unofficial English translation from Hebrew original 

 

	 	27.3.	 The parties hereby declare that they sign this Agreement after inquiring all particulars in connection
therewith and that none of the parties relied on any information however only the information stated expressly in this Agreement and all subject to the representations made by the Landlord. 

 

	 	27.4.	 It is hereby agreed between the parties that in the event of discrepancy and/or
non-conformance and/or ambiguity between any of the provisions set forth in the body of the Agreement and the technical specification, the priority between the documents shall be as follows:

 With respect to technical matters – the technical specification shall take precedence over the body of the
Agreement. 
 With respect to legal matters (including definitions) – the body of the Agreement shall take precedence over the
technical specification. 
  

	 	27.5.	 The headings of the Sections will serve for the purpose of orientation and convenience only and will not serve
for the purpose of interpreting the Agreement. 

  

	 	27.6.	 Prior drafts of this Agreement shall be inoperative in connection with the interpretation of this Agreement or
any provision hereof. Such drafts shall not be admissible in any judicial or quasi-judicial proceeding. 

  

	 	27.7.	 None of the provisions and terms set forth in this Agreement including Appendixes thereof shall derogate from
any other term or provision of this Agreement however shall add thereto. 

  

	 	27.8.	 Any modification and/or waiver and/or deviation from the provisions set forth in this Agreement shall be null
and void unless executed in writing and signed by the parties. This Agreement, signed by the Tenant, shall be deemed as an offer made by the Tenant to the Landlord. Only the signing of this Agreement by the Landlord shall be deemed as acceptance of
the Tenant’s offer and as the signing of a binding agreement between the parties. 

  

	 	27.9.	 Consent by one of the parties to deviate from any of the terms set forth in this Agreement in particular
circumstances shall not give rise to a precedent and no similar conclusions shall be drawn with respect to other circumstances. In the event a party did not exercise a right granted to it in

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 75
 
 Unofficial English translation from Hebrew original 

 

	 	
accordance with this Agreement in particular circumstances this shall not be deemed as waiver of the said right in the same circumstances and/or in other similar or different circumstances and no
conclusion regarding a waiver with respect to the right of that party should be drawn. No conclusions shall be drawn with respect to a waiver that was made in particular circumstances in other circumstances. 

 

	 	27.10.	 For the avoidance of doubt it is clarified that the rights granted to the Tenant in accordance with this
Agreement, are granted to the Tenant solely with respect to the Leased Premises, to the extent granted, and the Tenant does not and will not have any right in connection with additional construction rights and/or additional built areas that will be
approved and built by the Landlord or by any third-party, if any, and/or in connection with the use of any part of the Project and/or the Building that is not part of the Area of the Leased Premises including roofs, passageways and the like.

 For the avoidance of doubt, it is further clarified that the Tenant shall not be entitled at any time to register a
caveat by virtue of its rights in accordance with this Agreement. 
  

	 	27.11.	 Any claims in connection with this Agreement or stemming therefrom will be submitted only to the court with the
material jurisdiction in Tel Aviv – Yafo. 

  

	 	27.12.	 The stamp duty (if any) applicable to this Agreement will be imposed on the party obligated to pay such
expenses in accordance with the law. 

  

	 	27.13.	 The Tenant declares and affirms that it is aware that the attorneys representing the Landlord represent only
the Landlord and that the Tenant is entitled and may consult with an attorney on its behalf under no limitations. 

  

	 	27.14.	 The Tenant shall not be entitled to offset any amount from the Rent and/or the management fees and/or from any
other amount imposed on the Tenant in accordance with the provisions set forth in this Agreement. In addition, the Tenant shall have no right of lien with respect to the Leased Premises or any articles associated therewith or located therein and
that are the property of the Landlord. This condition is a fundamental condition in this Agreement. 

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 76
 
 Unofficial English translation from Hebrew original 

 

	 	27.15.	 The parties hereby agree that the provisions of the Hire and Loan Law 5731-1971 shall not apply to this
Agreement, except for provisions of the law that may not be qualified. 

  

	 	27.16.	 The addresses of the parties for the purpose of this Agreement are as stated in the preamble hereto and any
notice delivered by a party to the other party in registered mail to the aforesaid addresses, unless a party notified the other party in writing about a change of address, shall be deemed to have reached its recipient in 4 business days as of the
date of its delivery from the post office, and in the event the notice is delivered in person (only to the addresses of the parties, when the Tenant’s address during the Term of Lease shall be the address of the Leased Premises).

 The following are the addresses of the parties: 

The Landlord – 3 Har Sinai St., Tel Aviv. 

The Tenant – in the Leased Premises. 

And in witness hereof the parties are hereby undersigned: 
  

					
	 [Signature and Stamp: Ogen

Yielding Real Estate Ltd.]
	  		  	[Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697]
	  
	  		  	  

	The Landlord	  		  	The Tenant

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697] 

 
 77
 
 Unofficial English translation from Hebrew original 

 

 Attorney acknowledgement 

I, the undersigned,
                        , Adv. of
                         St. hereby certify the signature of the
Messrs.                         on behalf of the Landlord who are authorized to sign in its name and bind the Landlord.

  

	
	  

	, Adv.

 Attorney acknowledgement 

I, the undersigned, [handwritten: Einat Itzhak], Adv. of [handwritten: 16 Abba Hillel St., Ramat Gan] St. hereby certify the
signature of the Messrs. [handwritten: Roni Mamluk and David Sipernski] on behalf of the Landlord who are authorized to sign in its name and bind the Landlord. 

 

	
	 [Signature and Stamp: Einat Itzhak, Adv.

16 Abba Hillel St., Ramat Gan

License No. 46122

	Adv.

  
 [Signature and Stamp: Ogen Yielding Real
Estate Ltd.] 
 [Signature and Stamp: AYALA-ONCOLOGY ISRAEL Ltd., Company Reg. No. 515748697]EX-10.5

 Exhibit 10.5 

EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT
AGREEMENT (the “Agreement”) is effective as of the Effective Date, by and between Ayala Oncology Israel Ltd., a company organized under the laws of the State of Israel, P.C. No. 51-574869-7 (the “Company”) and Employee. 
  

			
	WHEREAS,	 	Company desires to employ Employee in the Employment Position and Employee desires to serve in such capacity on the terms and conditions hereinafter set forth herein; and
		
	WHEREAS,	 	Employee represents that she has the requisite skill and knowledge to engage in the Employment Position and fulfill the duties and responsibilities set forth herein.

 NOW, THEREFORE, in consideration of the respective agreements of the parties contained herein, the parties agree as follows:

  

	1.	 Definitions 

All undefined terms herein shall have the meanings ascribed thereto in Exhibit A hereto, which exhibit constitutes an
integral part hereof. 
  

	2.	 Employment 

 

	(a)	 Company agrees to employ Employee in the Employment Position, and Employee agrees to be employed by Company in
the Employment Position, reporting to the Board of Directors of Company, on the terms and conditions hereinafter set forth. Notwithstanding the aforesaid, Employee acknowledges and agrees that Company may change Employee’s position to co-CEO or President in connection with hiring and/or engaging another Chief Executive Officer and/or co-CEO and/or President to Company and/or any of its affiliates (the
“New Officer”). The selection and appointment of such New Officer shall be made by the Board of Directors of Company, following a diligent screening process in accordance with industry practice, of which, Employee shall be part.
Employee hereby agrees to be employed by Company in such capacity and to discharge and perform faithfully and to the best of her ability such duties and services of an executive, administrative and managerial nature consistent with her Employment
Position, as may be amended, as shall be specified and determined from time to time by the Board of Directors of Company. Notwithstanding the aforesaid, Employee shall continue to report directly to the Board of Directors of Company in the event New
Officer is appointed. Subject to the aforesaid, Employee hereby waives and claims and/or suits with respect to the appointment of such New Officer. Employee’s duties and responsibilities shall be those duties and responsibilities customarily
performed by an employee in the Employment Position. 

  

	(b)	 During the term of Employment hereunder, Employee agrees to devote skill, labor, attention and time to the
business and affairs of Company as required to discharge the responsibilities assigned to Employee hereunder. 

  
 Confidential 

 

	(c)	 Employee shall perform Employee’s duties diligently, conscientiously and in furtherance of Company’s
best interests, exercising the authority, powers, functions, and duties that attach to the Employment Position. In the event that Employee shall discover that she has or might have any conflict of interest with the duties required of Employee by
virtue of Employee s employment with Company, immediately upon such discovery Employee shall so inform the Board of Directors of Company in writing. 

  

	(d)	 Employee’s duties shall be in the nature of management duties that demand a special level of loyalty and
accordingly the Work Hours and Rest Law 1951, including any law amending or replacing such law, shall not apply to this Agreement. The parties hereto confirm that this is a personal services contract and that the relationship between the parties
hereto shall not be subject to any general or special collective employment agreement or any industry custom or practice, or practice of Company in respect of any of its other employees or contractors. Employee agrees that the execution and delivery
by Employee of this Agreement and the fulfillment of the terms hereof (i) does not conflict with any agreement or undertaking by which Employee is bound; and (ii) does not require the consent of any person or entity. 

 

	3.	 Salary 

 

	(a)	 In consideration for the services provided by Employee hereunder, Company shall pay to Employee the Salary, on
a monthly basis during the term of this Agreement. All amounts specified in this Agreement are gross sums. Company shall deduct and withhold all required taxes and other statutory payments, including health insurance contributions and social
security contributions from the Salary and from all other rights and benefits received by Employee. All income and other taxes shall be deducted as required by law. The Salary will be adjusted from time-to-time in accordance with the Cost of Living Index (“Tosefet Yoker”) and other adjustments as required by law. 

 

	(b)	 The Salary shall be payable monthly in arrears, and shall be paid to Employee in accordance with Company
policy. 

  

	(c)	 The Salary includes remuneration for working overtime, and Employee shall not be entitled to any further
remuneration or payment whatsoever other than the Salary and/or benefits, unless expressly specified in this Agreement. Employee acknowledges that the Salary to which Employee is entitled pursuant to this Agreement constitutes due consideration to
Employee for for the requirements of the Employment Position, status and overtime. 

  

	(d)	 It is hereby agreed that Employee’s determining pay for the purpose of severance pay is the Salary and all
additional benefits, such as a vehicle and/or vehicle equivalent and/or vehicle maintenance, but excluding any other payments and/or reimbursement of expenses. 

 

	4.	 Employee Benefits 

Employee shall be entitled to the following benefits: 
  

	 	(i)	 Sick Leave. Employee shall be entitled to 30 fully paid sick leave days per year. 

  
 Confidential 

 
 2 

	 	(ii)	 Vacation. Employee shall be entitled to paid vacation of up to the Annual Vacation Days, as set forth in
Exhibit A, in coordination with Company. Accumulation and redemption of any unused Vacation Days due to Employee pursuant to the Annual Vacation Law – 1951 (the “Vacation Law”), shall be subject to the provisions
of the Vacation Law. Vacation Days exceeding such number of Vacation Days due to Employee pursuant to the Vacation Law from time to time (the “Excess Vacation Days”), may be accumulated by Employee from time to time for use,
provided, that, in any event, the number of Excess Vacation Days Employee may accumulate shall not exceed twice (x2) the Annual Vacation Days. Accrued Vacation Days shall be redeemed and paid for by Company only upon termination
of Employee’s employment, up to twice (x2) the Vacation Days. 

  

	 	(iii)	 Annual Recreation Allowance (“Dme’i Havra’a”). Employee shall
be entitled to annual recreation allowance of 10 days per year. 

  

	 	(iv)	 Additional Benefits. Company shall provide Employee with the Additional Benefits specified in Exhibit
A. 

  

	5.	 Term and Termination 

 

	(a)	 The term of employment under this Agreement shall commence as of the Commencement Date, and will continue
indefinitely unless terminated under any of the following circumstances: 

  

	 	(i)	 Company may terminate the employment of Employee immediately for Cause. For purposes of this Agreement, the
term “Cause” will be defined to include matters such as: (1) conviction of any crime involving moral turpitude or dishonesty; (2) willful refusal to perform the lawful instructions of the Board of Directors pertaining to
Employee’s employment under this Agreement and/or to substantially perform Employee’s assigned duties, provided, however, that if such refusal and/or failure to perform is susceptible to cure, Employee shall not have cured
such refusal and/or failure within 14 days of having been given written notice thereof; (3) the misappropriation of corporate assets or corporate opportunities by Employee or any other acts of dishonesty or breach of Employee’s fiduciary
duties or duties of care to Company (except for conduct taken in good faith); (4) any conduct (other than conduct in good faith) materially detrimental to Company; (5) a material breach of the terms of this Agreement; and (6) any other act
or omission that would legally entitle Company to dismiss Employee without payment of severance pay in connection with such dismissal. 

  

	 	(ii)	 Company may terminate Employee’s employment with Company by sending a notice of termination to Employee,
provided that such notice determines a date of termination no earlier than the end of the Notice Period, it being understood that Company may provide such notice at any time without cause. Alternatively, Company may terminate Employee’s
employment forthwith and pay Employee the Salary and all other benefits, as if she was actually working during the notice period. 

  
 Confidential 

 
 3 

	 	(iii)	 Employee may terminate Employee’s employment with Company by sending a written notice of termination to
Company, provided that such notice determines a date of termination no earlier than the end of the Notice Period, it being understood that Employee may provide such notice at any time without cause and without the need to state the reason
therefore. 

  

	(b)	 During the Notice Period, Employee shall (i) cooperate with Company and use its best efforts to assist the
integration into Company’s organization of the person or persons who will assume Employee’s responsibilities, if so requested by Company, and (ii) continue to receive the compensation set forth herein. At the option of Company, during
the Notice Period, Employee shall continue to perform its duties as set forth herein or remain absent from the premises of Company during the Notice Period. 

  

	(c)	 If the employment of Employee is terminated (for any reason) under Sections 5(a) (i), (ii) or (iii), then
unless the parties otherwise mutually agree in writing, in full satisfaction of Company’s obligations under this Agreement and under applicable law, Employee shall only be entitled to: (A) earned but unpaid Salary provided for herein up to
and including the effective date of termination, prorated on a daily basis; (B) release of the managers insurance policy and/or pension fund (unless the circumstances of such termination entitle Company to retain a portion of the managers
insurance policy and/or pension fund); (C) release of the further education fund, if any; and (D) a cash payment for all unredeemed vacation days, if any, up to the maximum number specified above. Company and Employee agree and acknowledge that
transfer of ownership of all the money accumulated in the manager’s insurance policy and/or pension fund to Employee as set forth in this Section 5(c) shall be in lieu of any right to receive severance pay under law. 

 

	(d)	 In the event that Employee terminates Employee’s employment with Company by sending a written notice of
termination to Company during the 24-month period following the Commencement Date, provided that: (i) such notice determines a date of termination no earlier than the end of the Notice Period; and
(ii) such notice is provided within 30 days from the date of appointment of New Officer and in connection thereto, Employee shall be entitled, in addition to the aforesaid in Section 5 (c) above, to a
3-month Salary and all the additional benefits as if Employee was still actually working. 

  

	(e)	 In the event of any termination of Employee’s employment, whether or not for cause and whatever the
reason, Employee will promptly deliver to Company all documents, data, records and other information pertaining to Employee’s employment and any Proprietary Information (as defined in Section 6), and Employee will not take with her any
documents or data, or any reproduction or excerpt of any documents or data, containing or pertaining to Employee’s employment or any Proprietary Information. Furthermore, Employee and Company agree and undertake that both parties will not make
any statements, comments, or communications that constitute libel, slander, or disparagement of Employee and/or Company and/or any of its predecessors, subsidiaries, shareholders successors, affiliates, directors, officers employees, agents,
representatives, attorneys, related entities, insurers, agents, representatives. 

  
 Confidential 

 
 4 

	6.	 Proprietary Information 

 

	(a)	 Employee represents and warrants that she will keep the terms and conditions of this Agreement strictly
confidential and will not disclose it nor provide a copy of it or any part thereof to any third party unless and to the extent required by applicable law and/or to its legal and/or financial and/or tax advisors. 

 

	(b)	 Employee acknowledges and agrees that she will have access to confidential and proprietary information
concerning the business and financial activities of Company and/or any of its affiliates and information and technology regarding their product research and development, including without limitation, products, customer lists, pricing, trade secrets,
patents, business methods and cost data, business plans, strategies, drawings, designs nonpublic information regarding product development, marketing plans, sales plans, manufacturing plans, management organization (including but not limited to
nonpublic data and other information relating to members of the Board of Directors of Company and/or its affiliates Company and/or any of its affiliates or to management of Company and/or any of its affiliates), operating policies or manuals
financial records, design or other nonpublic financial, commercial, business or technical information. Such information, whether documentary, written, oral or computer generated, shall be deemed to be and referred to as “Proprietary
Information”. 

  

	(c)	 Proprietary Information shall exclude information that (i) was known to Employee prior to its association
with Company, provided it was received on a non-confidential basis from a source other than Company or any of its affiliates and/or in connection with the formation of Company, and can be so proven in
writing· (ii) shall have appeared in any printed publication or patent or shall have become a part of the public knowledge except as a result of a breach of this Agreement by Employee; (iii) shall have been received by Employee from a
third party having no obligation to Company, (iv) reflects general skills and experience gained during Employee’s engagement by Company, or (v) reflects information and data generally known within the industries in which Company
transacts business. 

  

	(d)	 Employee agrees and declares that all Proprietary Information, patents and other rights in connection therewith
shall be the sole property of Company and its assigns. At all times, both during its engagement by Company and after its termination, Employee will keep in confidence and trust all Proprietary Information, and Employee will not use or disclose any
Proprietary Information or anything relating to it without the written consent of Company except as may be necessary in the ordinary course of performing Employee’s duties hereunder and in the best interests of Company. 

 

	(e)	 Employee recognizes that Company received and will receive confidential or proprietary information from third
parties subject to a duty on Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. Such information shall be deemed “Proprietary Information” for all purposes hereunder,
and shall, without limitation of the foregoing, be returned to Company upon termination of Employee’s employment with Company pursuant to Section 5(f) hereof. 

  
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 5 

	(f)	 Employee’s undertakings in this Section 6 shall remain in full force and effect after termination of
this Agreement or any renewal thereof. 

  

	7.	 Non-Competition 

 

	(a)	 Employee agrees and undertakes that, for as long as Employee is employed by Company and for the Non Compete
Period – Employee shall not, directly or indirectly, become financially interested in, be employed by, or have any business connection with, any business or venture that is engaged in any activities directly competing with products or services
offered by Company, in countries where Company is providing services, as owner, partner, joint venture, shareholder, employee, broker agent, principal, corporate officer, director, licensor or in any other capacity whatever; provided,
however, that Employee may own securities of any corporation which is engaged in such business and is publicly owned and traded. 

  

	(b)	 Employee agrees and undertakes that during the period of its employment with Company and for the Non Compete
Period thereafter Employee will not solicit, canvass or approach or endeavor to solicit, canvass or approach any person or entity who was provided with services by Company or its subsidiaries on the date of Employee’s termination or during the
preceding twelve months, for the purpose of offering services or products which compete with the services or products supplied by Company. 

  

	(c)	 If any one or more of the terms contained in this Section 7 shall, for any reason, be held to be
excessively broad with regard to time, geographic scope or activity, the term shall be construed in a manner to enable it to be enforced to the extent compatible with applicable law. 

 

	(d)	 Employee declares that she is aware that the Salary includes special consideration paid to Employee for
Employee’s undertakings set out in this section 7. 

  

	7A.	 Simultaneously with the signing of this Agreement, Employee has also signed the
Non-Disclosure, Unfair Competition and Ownership of Inventions Undertaking in favor of the Company, which is attached hereto as Exhibit D, which forms an integral part of this
Agreement and is made in addition to and not in substitution for any provision to the same effect contained herein. Employee’s employment compensation has been calculated to include special consideration for his/her commitments under
Exhibit D attached hereto. 

  

	8.	 Miscellaneous 

 

	(a)	 Company shall be entitled to set-off any amount owed to Company by
Employee under the terms and provisions of this Agreement from any amount owed by Company to Employee under the terms and provisions of this Agreement or from any other source whatsoever. 

 

	(b)	 No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or
discharge is agreed to in writing and signed by Employee and Company. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such
other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

  
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	(c)	 This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
Israel, without giving effect to the rules with respect to conflicts-of-law. 

  

	(d)	 The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any
provision shall not affect the validity or enforceability of the other provisions hereof. 

  

	(e)	 This Agreement constitutes the entire agreement between the parties hereto and supersedes all prior agreements,
understandings and arrangements, oral or written, between the parties hereto with respect to the subject matter hereof. No agreement or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made
either party which are not expressly set forth in this Agreement. 

  

	(f)	 This Agreement shall be binding upon and shall inure to the benefit of Company, its successors and assigns.

  

	(g)	 Neither this Agreement nor any right or interest hereunder shall be assignable or transferable by Employee, his
or her beneficiaries or legal representatives. 

  

	(h)	 The section headings contained herein are for reference purposes only and shall not in any way affect the
meaning or interpretation of this Agreement. 

  

	(i)	 Exhibit B attached hereto shall be deemed a Notice as defined in the Notice to Employee Law
(Terms of Employment), 5762-2002. 

  

	(j)	 For the purpose of this Agreement, notices and all other communications provided for in the Agreement shall be
in writing and shall be deemed to have been duly given when personally delivered or sent by registered mail, postage prepaid. 

[Signature Page Follow] 

  
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 IN WITNESS WHEREOF, Company has caused this Employment Agreement to be executed by its duly authorized
officer and Employee has executed this Agreement as of the day and year first above written. 
  

					
	Company:	 		 	Employee:
			
	/s/ Yuval Cabilly	 		 	/s/ Roni Mamluk
	Ayala-Oncology Israel Ltd.	 		 	Signature
			
	By: Yuval Cabilly	 		 	Name: Roni Mamluk
			
	Title: Director	 		 	

  
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 EXHIBIT A 

AYALA-ONCOLOGY ISRAEL LTD. 

EMPLOYMENT AGREEMENT – RONI MAMLUK 
  

					
	 TERM USED IN THE
AGREEMENT
	  	 EXPLANATION
	  	 DETAILS

	EFFECTIVE DATE	  	Date the agreement is signed	  	November 30 2017
			
	EMPLOYEE	  	 Name of employee:
 ID number of
employee:
 Address of employee:
	  	 Name: Roni Mamluk
 ID: 022721336

Address: [XXXX]

			
	EMPLOYMENT POSITION	  	Position Employee will hold in Company	  	CEO subject to Section 2 (a) of this Agreement
			
	EMPLOYMENT BASIS	  	Part time / Full time basis	  	Part time basis equaling 80% (eighty percent) of a full-time employment
			
	COMMENCEMENT DATE	  	The date Employee starts her employment with Company	  	November 15, 2017
			
	SALARY	  	The monthly salary paid to Employee, before taxes and payments are deducted	  	NIS 60,000
			
	ANNUAL VACATION DAYS	  	Number of vacation days per year to which employee is entitled	  	25 days
			
	ANNUAL RECREATION DAYS	  	Number of recreation allowance days per year to which employees is entitled	  	10 days
			
	NOTICE PERIOD	  	Number of days’ notice to be given for termination of Employment by Employee or Company	  	90 days

  
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	NON COMPETE PERIOD	  	Period after termination of Employment in which Employee may not compete with Company or solicit employees	  	12 months
	
	 ADDITIONAL BENEFITS

 

	 EXPENSE REIMBURSEMENTS
	  	Employee shall be entitled to receive prompt reimbursement of all direct expenses (“Expense Reimbursements”) properly and necessarily incurred by Employee in connection with the performance of
Employee’s duties hereunder; provided, however, (i) that such expenses are in accordance with Company’s expense reimbursement policies; and (ii) that Employee has submitted such receipts and other documents
as may be required by, and has otherwise complied with Company’s expense policy in effect at such time; provided further, that reimbursement of lunch expenses shall be solely subject to the relevant
section herein or in Company’s policies.
		
	 TRAVEL
	  	Employee shall be entitled to travel business class on business flights of more than 5 consecutive hours. All other terms shall be in accordance with Company’s travel policy.
		
	 PERSONAL MOBILE PHONE EXPENSE PARTICIPATION
	  	According to Company’s policy.
		
	 MANAGERS INSURANCE POLICY (“Bituach Menahalim”) AND/OR PENSION FUND
(“Keren Pensya”)
	  	 No later of the completion of 3 months of employment with Company, Company shall insure Employee (retroactively to the
Commencement Date) with a manager’s insurance policy (the “Manager’s Insurance Fund”) or an extensive pension fund (the “Pension Fund”) (individually and collectively referred to as the
“Policy”), or a combination of the two (whereby each will apply partially), subject to the percentages as follows:
  

6.5% of the Salary shall be contributed towards a pension savings component (which shall include payments on account of disability insurance and life/survivors
insurance) and 8.33% from the Salary shall be contributed towards a severance pay component. Employee’s contribution to the pension savings component shall be equal to 6%, which shall be deducted from the Salary.

 
 For the avoidance of the doubt, in the event that Employee has chosen a Manager’s
Insurance Fund (for all or for only a part of the Policy), then at least 5% of the Salary (or in the case in which only a part of the Salary is apportioned towards a Manager’s Insurance Fund, then such part of the Salary) shall be calculated
towards the pension savings component.

  
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		  	 Furthermore, in order to ensure that 75% of the Salary shall be paid to Employee in the event Employee becomes 100% disabled (the
“Disability Insurance”), Company shall be required to make additional contributions (in excess of an amount equal to up to 1.5% which is paid out of the 6.5% detailed above) towards the above mentioned Disability Insurance, such
that the aggregate maximum employer contribution towards the pension savings component and the Disability Insurance shall not exceed in the aggregate, an amount equal to 7.5% of the Salary.

 
 If the cost of the Disability Insurance (i.e., ensuring that 75% of the Salary shall be
paid to Employee upon Employee becoming 100% disabled) shall be lower than 1.5% of the Salary, the remainder shall nevertheless still be contributed to the pension savings component for the benefit of Employee.

 
 Employee shall notify Company within 30 days from the Commencement Date whether
Company’s contribution shall be made wholly to the Pension Fund wholly to the Manager’s Insurance Fund or any combination of the two (the “Notification”). Furthermore, Employee shall notify Company whether he wishes to
engage with a pension agent of his own (the “Pension Agent”). The Pension Agent (if there will be any) shall be responsible to transfer the pension allocations of Employee according to the Agreement and will not, at any time or for
any reason, cause a waiver and/or diminution of Employee’s disability insurance and/or survivors insurance, as required by law. Should Employee fail to deliver a Notification to Company, Company shall be authorized to elect a pension scheme for
Employee at its sole discretion (the “Approved Scheme”). Employee acknowledges and agrees that she shall not have any claim, suit or demand with respect to the Approved Scheme (if any) and the Approved Scheme shall be considered as
a scheme which is acceptable to her.
  
 Company shall deduct any and all taxes on
behalf of Employee with respect to any of the contributions which exceed the ceiling provided under the income tax laws (should such contributions be permissible).

  
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		  	 Employee’s rights shall be secured in accordance with the provisions of the Order published pursuant to Section 14 of the
Severance Pay Law, 1963, as amended and as shall be amended from time to time (the “Order”). The Order as published up to the date of this Agreement is attached hereto as Exhibit C.

 
 The parties agree that Company’s contributions and deductions to the Policy shall
come in lieu of Company’s obligation to pay Employee (or in the event of his demise during the Term, Employee’s survivors under Section S of the severance Pay Law, 1963 (the “Severance Pay Law”), severance pay due
pursuant to the Severance Pay Law, in accordance and subject to the provisions of the Order.
  

According to the provisions of the Order and without derogating therefrom, Company waives any right it may have to recover sums from its contributions, unless
Employee’s entitlement to severance pay has been denied in a judgment under Sections 16 or 17 of the Severance Pay Law and/or in the event of Cause (as defined in Section S to the Agreement), or unless Employee withdraws sums from the
Pension Fund or the Manager’s Insurance Fund other than in the case of an “entitling event” (as such term is defined in the Order).

		
	 FURTHER EDUCATION FUND
	  	The Company shall contribute towards a Further Education Fund (‘Keren Hishtalmut’) (the “Education Fund”) in an amount equal to 7.5% of the Salary applicable to the month in respect of
which such contribution is made and Employee shall contribute towards such Education Fund an amount equal to 2.5% of such applicable Salary (which contribution by Employee shall be made by way of a deduction by the Company of such amount from
Employee’s monthly Salary and remitting same to such Education Fund), provided, however, that in no event shall such Company’s contribution towards the Education Fund exceed 7.5% of the ‘Effective Salary’ (as
defined in Section 3(e) of the Income Tax Ordinance, 5721-1961) nor shall such Employee’s contribution towards the Education Fund exceed 2.5% of such ‘Effective Salary’.
		
	 BONUSES
	  	 a.   Employee shall be entitled to an annual bonus of 30% of her Salary
subject to her meeting the annual criteria and/or milestones determined and approved annually by the Board of Directors of Company, after consultation with Employee.

  
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		  	 b.  Employee shall be entitled to a
one-time joining bonus in an amount to be determined by the Board of Directors of Company, payable in Q1 2018.

		
	 INCENTIVE PLAN
	  	 Subject to the approval of the Board of Directors and shareholders Ayala Pharmaceuticals, Inc., the parent company of the Company
(“Parent”), and the adoption by Parent of an Incentive Stock Plan (the “Plan”), Parent will grant Employee options to purchase a total number of shares of Common Stock of Parent, par value US$0.01 each
(“Common Stock”), equal to 1% of Company’s issued and outstanding share capital, on a fully diluted basis, immediately following the initial investment in Company (the “Initial Investment” and the
“Options”) (currently, 141,331 shares of Common Stock, assuming the consummation of the Initial Closing under Parent’s Series A Preferred Stock Purchase Agreement dated as of or around December 5, 2017) provided
however that the date of grant shall be immediately before the Initial Investment, at an exercise price determined by the Board of Directors of Parent. The Options shall be granted pursuant to the terms and conditions of the Plan, at an
exercise price determined by the Board of Directors of Company, and subject to the execution of an option agreement thereunder and shall vest quarterly over a 4-year period with a 1-year cliff from the date of grant. The vesting of such Options shall be fully accelerated in the event of an M&A transaction of Company, as such term is defined in the Plan. If Employee’s
employment with Company is terminated, the Options may be exercised only with respect to any remaining unexercised portion of the Options that has vested at the time of such termination within a 3-month period
following such termination, provided however, that in the event of termination by Company in accordance with Section 5 (a) (ii) the exercise period shall be 12 months following termination. Upon termination of
Employee’s employment with Company, for any reason whatsoever, the unvested portion of the Options shall immediately expire and be of no further force or effect.
  

Immediately prior to an initial public offering (“IPO”), to the extent an IPO materializes during Employee’s employment with the Company,
Company will grant Employee (the “IPO Grant”):
  

a.   options to purchase such total number of shares of Common Stock of Parent, equal to 0.5% of
Parent’s issued and outstanding share capital, on a fully diluted basis, on the date of such grant (the “Second Options”). The Second

  
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		  	 Options shall be granted pursuant to the terms and conditions of the Plan and subject to the execution of an option
agreement thereunder and shall vest quarterly over a 4-year period with a 1-year cliff from the date of grant, at an exercise price determined by the Board of Directors
of Parent. The vesting of such Second Options shall be accelerated in the event of an M&A transaction of Company, as such term is defined in the Plan.
  

b.  A restricted stock award entitling Employee to purchase for $0 such total number of shares of Common
Stock of Parent equal to 0.5% of Parent’s issued and outstanding share capital, on a fully diluted basis, on the date of such grant (the “RSUs”). The RSUs shall be granted pursuant to the terms and conditions of the Plan and
subject to the execution of a restricted stock award agreement thereunder and shall vest quarterly over a 4-year period with a 1-year cliff from the date of grant. The
vesting of such RSUs shall be accelerated in the event of an M&A transaction of Company, as such term is defined in the Plan.
  

Notwithstanding the aforesaid, the IPO Grant shall not be affected by any equity grant provided to New Officer immediately prior to and/or immediately after an
IPO and with respect thereto. To that end, Employee shall be granted an additional equity grant in order to receive a total equity grant equal to that granted to New Officer with respect to an IPO.

		
	 COMPANY CAR
	  	 Company shall make available to Employee a leased Company car (the “Company Car”). The Company Car shall be of a
“Group 3” type car as available to Company pursuant to its respective lease agreement(s) from time to time.
  

The Company Car shall be placed with Employee for her business and reasonable personal use and for the use of her immediate family members, in accordance with
the Company’s respective lease agreement(s) from time to time. Employee shall take good care of the Company Car and ensure that the provisions of the insurance policy, the lease agreement and Company’s policies relating to the Company Car
are strictly, lawfully and carefully observed.
  
 The Company Car will be returned to
Company by Employee upon the termination of the Employment, for any reason whatsoever.

  
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		  	 Subject to applicable law, Company shall bear all fixed and ongoing expenses relating to the Company Car and to the use and maintenance
thereof, excluding fines and expenses (including legal expenses) incurred in connection with violations of law or the insurance policy, which shall be borne and paid solely by Employee, and provided that Company
shall bear fuel expenses in connection with the Company Car. In addition, Employee shall bear the cost of any deductible amount charged from Company for damages caused to the Company Car in connection of its use contrary to the insurance policy or
in connection with violations of law. Employee shall indemnify and/or reimburse Company, upon its first demand, for all charges paid and expenses incurred by it in connection with any of the above.

 
 Employee shall bear the taxes applicable in connection with the Company Car and the use
thereof, in accordance with applicable income tax regulations and Social Security Provisions.

  

					
	Company:	 		 	Employee:
			
	/s/ Yuval Cabilly	 		 	/s/ Roni Mamluk 

	Ayala-Oncology Israel Ltd.	 		 	Signature
			
	By: Yuval Cabilly	 		 	Name: Roni Mamluk
			
	Title: Director	 		 	

 [Signature Page to Exhibit A to Employment Agreement/ November 2017] 

  
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 EXHIBIT B 
  

 

  
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 EXHIBIT C 

General Approval Regarding Payments by Employers to a Pension Fund and Insurance Fund in lieu of Severance Pay 

In accordance with the Severance Pay Law 5723-1963 
 By
virtue of my authority under Section 14 of the Severance Pay Law 5723-1963 (hereinafter, the “Law”), I hereby confirm that payments made by an employer beginning on the date this authorization is publicized, for its employee,
towards a comprehensive pension in a provident fund for benefit payments, which is not an insurance fund as implied in the Income Tax Regulations (Rules for Approving and Managing Provident Funds) 5724-1964 (hereinafter, a “Pension
Fund”), or towards managers insurance that includes an option for benefit payments (hereinafter, an “Insurance Fund”) or a combination of payments towards a Pension Fund and an Insurance Fund (hereinafter, “Employer
Payments”), shall be in lieu of the severance pay to which the said employee is entitled in respect of the wages of which the said payments were paid and the period for which they were paid (hereinafter, the “Exempted
Salary”), provided that the following conditions shall be met: 
 1. Employer Payments- 

1.1. To a Pension Fund are not less than 14.33% of the Exempted Salary or 12% of the Exempted Salary if the employer pays for its employee, in
addition to this, supplementary severance payments towards a Severance Pay Fund or an Insurance Fund in the name of the employee at a rate of 2.33% of the Exempted Salary. If the employer does not pay the said 2.33% in addition to the 12%, its
payments shall be only in lieu of 72% of the employee’s severance pay. 
 1.2. To an Insurance Fund are not less than one of the
following: 
 1.2.1. 131⁄3% of the Exempted Salary, if the employer pays for its employee payments for additional monthly income support in case of employee’s inability to work, through a plan approved by the Supervisor for
Capital Markets, Insurance and Savings in the Ministry of Finance, at a rate necessary to guarantee at least 75% of the Exempted Salary, or at a rate of 21⁄2% of the Exempted Salary, whichever is lower (hereinafter, “Loss of Work Capacity Insurance”). 

1.2.2. 11% of the Exempted Salary, if the employer paid an additional Payment for the Loss of Work Capacity Insurance, and in such case the
employer’s payments shall be only in lieu of 72% of the employee’s severance pay. If, in addition to such payments, the employer has also paid payments for the supplement of severance pay to a Severance Pay Fund or an Insurance Fund under
the name of the employee at a rate of 21⁄3% of the Exempted Salary, the employer’s payments shall be in
lieu of 100% of the employee’s severance pay. 

  
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 2. Not later than three months following the commencement of the employer’s payments, a
written agreement shall be executed by and between the employer and the employee, which shall include: 
 2.1. The employee’s
agreement to an arrangement in accordance with this authorization, in wording that specifies the employer’s payments and the Pension Fund and the Insurance Fund, as relevant. The said agreement shall also include the wording of this
authorization. 
 2.2. The employer’s prior waiver of any right it may have to a financial reimbursement for all or part of its
payments, unless the employee’s right to severance pay is rescinded by a judicial decree or by virtue of Sections 16 or 17 of the Law, or that the employee withdrew funds from the Pension Fund or from the Insurance Fund not for a
qualifying incident. In this regard a “Qualifying Incident” – death, disability or retirement at the age of 60 or older. 
 3.
This authorization shall not derogate from the employee’s right to severance pay under the Law, collective agreement, expansion order or employment contract, for wages exceeding The Exempted Salary. 

Eliyahu Yishai 
 Minister of Labor and Social Welfare 

  
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 EXHIBIT D 

This CONFIDENTIALITY, UNFAIR COMPETITION, AND OWNERSHIP OF INVENTIONS UNDERTAKING (“Undertaking”) is made and given as of November 15,
2017 by Roni Mamluk, Israeli I.D. No. 022721336 (the “Employee”). 
 WHEREAS, the Employee wishes to be employed with
and provide services that are of particular and special value to Ayala-Oncology Israel Ltd. (together with its direct or indirect parent (including Ayala Pharmaceuticals, Inc.), subsidiary and affiliated companies, and its and their respective
successors and assigns – the “Company”); and WHEREAS, it is critical for the Company to preserve and protect its Confidential Information, and its rights in Inventions and in all related intellectual property rights; NOW,
THEREFORE, as a condition to Employee’s employment with the Company, Employee hereby undertakes and warrants towards the Company as follows: 
 1.
Confidentiality. 
 1.1. Employee acknowledges that during the term of the Employee’s employment with the Company, and
including any period during which the Employee provided services to any Company entity at any time prior to the date hereof, the Employee may have (or may have had) access to information that relates to the Company, its business, assets, financial
condition, affairs, activities, plans and projections, customers, suppliers, partners and other third parties with whom the Company agreed or may agree, from time to time, to hold information of such parties in confidence (the “Confidential
Information”). Confidential Information shall include, without limitation, information, whether or not marked or designated as confidential, concerning technology, products, research and development, patents, copyrights, Inventions, trade
secrets, test results, formulae, processes, data, know-how, marketing, promotion, business and financial plans, policies, practices, strategies, surveys, analyses and forecasts, financial information customer
lists, agreements, transactions, undertakings and data concerning employees, consultants, officers, directors, and shareholders. Confidential Information includes information in any form or media, whether documentary, written, oral, magnetic,
electronically transmitted, through presentation or demonstration or computer generated. Confidential Information shall not include information that has become part of the public domain not as a result of a breach of any obligation owed by the
Employee. 
 1.2. Employee acknowledges and understands that the employment of Employee with the Company and the access to Confidential
Information creates a relationship of confidence and trust with respect to such Confidential Information. 
 1.3. During the term of
Employee’s employment with the Company and at any time after termination or expiration thereof, for whatever reason, Employee shall keep in strict confidence and trust, shall safeguard, and shall not disclose to any person or entity nor use for
the benefit of any party other than the Company, any Confidential Information, other than with the prior express consent of the Company, unless the Employee has an independent right or obligation to make such disclosure pursuant to applicable local,
state or federal law, provided, that Employee gives the Company prompt notice of such requirement to disclose so that the Company may seek a protective order or other appropriate remedy, and provided further, that
Employee shall furnish only that portion of the Confidential Information which is legally required to be disclosed, and shall exercise all reasonable efforts to obtain confidential treatment for such information. 

  
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 1.4. All right, title and interest in and to Confidential Information are and shall remain
the exclusive property solely of the Company or the property of the third party providing such Confidential Information to the Company, as the case may be. Without limitation of the foregoing, Employee agrees and acknowledges that all memoranda,
books, notes, records, email transmissions, charts, formulae, specifications, lists and other documents (contained on any media whatsoever) made, reproduced compiled, received, held or used by Employee in connection with the employment with the
Company or that otherwise relates to any Confidential Information (the “Confidential Materials”), shall be the exclusive property solely of the Company and shall be deemed to be Confidential Information. All originals, copies,
reproductions and summaries of the Confidential Materials shall be delivered by Employee to the Company upon termination or expiration of Employee’s employment with the Company for any reason, or at any earlier time at the request of the
Company, without Employee retaining any copies thereof. 
 1.5. During the term of Employee’s employment with the Company, Employee
shall not remove from the Company’s offices or premises any Confidential Materials unless and to the extent necessary in connection with the duties and responsibilities of the Employee and permitted pursuant to the then applicable policies and
regulations of the Company. In the event that any such Confidential Materials are duly removed from the Company’s offices or premises, Employee shall take all actions necessary in order to secure the safekeeping and confidentiality of such
Confidential Materials and return the Confidential Materials to their proper files or location as promptly as possible after such use. 

1.6. During the term of Employee’s employment with the Company, Employee will not use or disclose any trade secrets, proprietary or
confidential information, and will not bring onto the premises of the Company any unpublished documents or any property, in each case belonging to any former employer or any other party to whom Employee has an obligation of confidentiality and/or non-use (including, without limitation, any academic institution or any entity related thereto), unless generally available to the public or consented to by such third party in a writing addressed to the Company.

 2. Unfair Competition and Solicitation. 

2.1. Employee undertakes that during the term of employment with the Company and for a period of twelve (12) months thereafter,
(i) Employee shall not, directly or indirectly, engage in or establish or otherwise become involved in either as an employee owner, partner, agent, shareholder director, consultant or otherwise, any business, occupation, work or any other
activity which competes with the business of the Company as conducted during the term of employment or planned, during such term, to be conducted, or which will have the likely effect of reducing the business volume or monetary profits of the
Company; (ii) Employee shall not, directly or indirectly, solicit, hire or retain as an employee, consultant or otherwise, any employee of the Company or induce or attempt to induce any such employee to terminate or reduce the scope of such
employee’s employment with the Company; and (iii) Employee shall not, directly or indirectly, solicit or induce, or attempt to solicit or induce, any employee, consultant, service provider, agent, distributor, supplier or customer of the
Company, or third party with respect to which the Company took substantial steps to engage as an employee or as any of the foregoing during the period of Employee’s employment with the Company, to terminate, reduce or modify the scope of its or
their employment with the Company. 

  
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 2.2. Employee acknowledges that in light of Employee’s position with the Company and in
view of Employee’s exposure to, and involvement in, the Company’s sensitive and valuable proprietary information, intellectual property and technologies, Confidential Information and Confidential Materials (the
“Company’s Material Assets”), the provisions of this Section above are reasonable and necessary to legitimately protect the Company’s Material Assets, and are being undertaken by Employee as a
condition to the employment of Employee by the Company. Employee confirms that Employee has carefully reviewed the provisions of this Section 2, fully understands the consequences thereof and has assessed the respective advantages and
disadvantages to Employee of entering into this Undertaking and, specifically, Section 2 hereof. 
 2.3. Employee hereby declares that
he/she is aware that a portion of the payments or other consideration paid or granted to Employee by the Company contains additional consideration in exchange for the Employee fully undertaking the non-compete
and non-solicitation provisions in Sections 2.1 and 2.2 above. Notwithstanding anything to the contrary, the Employee declares that he/she is financially capable of undertaking these non-compete and nonsolicitation provisions. 
 3. Ownership of Inventions. 

3.1. Employee will notify and disclose in writing to the Company, or any persons designated by the Company from time to time, all information,
improvements, inventions, trademarks, works, designs, trade secrets, formulae, processes, techniques, know-how and data, whether or not patentable or registerable under copyright or any similar laws, made or
conceived or reduced to practice or learned by Employee, either alone or jointly with others, during Employee’s employment with the Company (including after hours, on weekends or during vacation time) (all such information, improvements,
inventions, trademarks, works, designs, trade secrets, formulae, processes, techniques, know-how, and data are hereinafter referred to as the ”Invention(s)”) immediately upon discovery,
receipt or invention as applicable. 
 3.2. Employee agrees that all of the Inventions are, upon creation, considered Inventions of the
Company, shall be the exclusive property solely of the Company and its assignees, and the Company and its assignees shall be the sole owner of all patents, copyrights, trade secrets and all other rights of any kind or nature, including moral rights,
in connection with such Inventions. Employee hereby irrevocably and unconditionally assigns to the Company all the following with respect to any and all Inventions: (i) title, rights and interest in and to such Inventions, (ii) title,
rights and interest in and to any patents, patent applications, and patent rights, including any and all continuations or extensions thereof; (iii) rights associated with works of authorship, including copyrights and copyright applications,
Moral Rights (as defined below) and mask work rights; (iii) rights relating to the protection of trade secrets and confidential information; (v) design rights and industrial property rights; (vi) any other proprietary rights relating
to intangible property including trademarks, service marks and applications therefor trade names and packaging and all goodwill associated with the same; and (vii) all rights to sue for any infringement of any of the foregoing rights and the
right to all income, royalties damages and payments with respect to any 

  
 Confidential 

 
 21 

 
of the foregoing rights. Employee also hereby forever waives and agrees never to assert any and all Moral Rights Employee may have in or with respect to any Inventions, even after termination of
Employee’s employment with the Company. “Moral Rights” means any right to claim authorship of a work, any right to object to any distortion or other modification of a work, and any similar right existing under the law of any
country in the world, or under any treaty. The Employee further acknowledges and agrees that all copyrightable works included in the Inventions shall be “works made for hire” within the meaning of the Copyright Act of 1976, as amended (17
U.S.C. §101) (the “Act”), and that the Company shall be the “author” within the meaning of the Act. 
 3.3.
Employee represents that there are no information improvements inventions, formulae, processes, techniques, know-how and data, whether or not patentable or registerable under copyright or any similar laws, and
whether or not reduced to practice, original works of authorship and trade secrets made or conceived by or belonging to Employee (whether made solely by the Employee or jointly with others) that: (i) were developed by the Employee prior to
Employee’s employment with the Company, (ii) relate to the Company’s actual or proposed business, products or research and development, and (iii) are not assigned to the Company hereunder. 

3.4. Employee further agrees to perform, during and after Employee’s employment with the Company, all acts deemed reasonably necessary or
desirable by the Company to permit and assist it, at the Company’s expense, in obtaining, maintaining, defending and enforcing the Inventions in any and all countries. Such acts may include, but are not limited to, execution of documents and
assistance or cooperation in legal proceedings. Employee hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as Employee’s agents and
attorneys-in-fact to act for and on Employee’s behalf and instead of Employee, to execute and file any documents and to do all other lawfully permitted acts to
further the above purposes with the same legal force and effect as if executed by Employee. 
 3.5. Employee shall not be entitled, with
respect to any and all of the above to any monetary consideration or any other consideration except as explicitly set forth in the employment agreement between Employee and the Company. Without limitation of the foregoing, Employee irrevocably
confirms that the consideration explicitly set forth in Employee’s employment agreement with the Company is in lieu of any rights for compensation that may arise in connection with the Inventions under applicable law and waives any right to
claim royalties or other consideration with respect to any Invention including under Section 134 of the Israeli Patent Law, 1967 (or any successor or equivalent law). With respect to any and all of the above, any oral understanding,
communication or agreement not memorialized in writing and duly signed by an authorized officer of the Company, shall be void. 
 4. General.

 4.1. Employee represents that the performance of all the terms of this Undertaking and of all of Employee’s duties and services to
the Company does not and will not breach any invention assignment, proprietary information, non-compete, confidentiality or similar agreements with, or rules, regulations or policies of, any former employer or
other party (including, without limitation, any academic institution or any entity related thereto). Employee acknowledges that the Company is relying upon the truthfulness and accuracy of such representations in engaging Employee. 

  
 Confidential 

 
 22 

 4.2. Employee acknowledges that the provisions of this Undertaking serve as an integral part
of the terms of Employee’s employment with the Company and reflect the reasonable requirements of the Company in order to protect its legitimate interests with respect to the subject matter hereof. The Employee hereby explicitly acknowledges
that the restrictions set forth in this Confidentiality Agreement are not greater than required and do not unduly burden the Employee. 

4.3. Employee hereby consents that following the termination or expiration of the employment relationship hereunder, the Company may notify
the Employee’s new employer about the Employee’s rights and obligations under this Undertaking. 
 4.4. It is agreed and
understood that if a court of law finds that the Employee has violated Section 2 of this Confidentiality Agreement, then the restrictions set forth in such section shall automatically be extended for any period of time for which the court
finds that the Employee violated such restrictions. 
 4.5. Employee recognizes and acknowledges that in the event of a breach or threatened
breach of this Undertaking by Employee the Company may suffer irreparable harm or damage and that under such circumstances monetary remedies would be inadequate to protect against any actual or threatened breach of this Confidentiality Agreement.
Without prejudice to any other rights and/or remedies otherwise available to the Company, it is therefore agreed that the Company will be entitled to the granting of equitable relief, including but not limited to injunctive relief and specific
performance, in favor of the Company without proof of actual damages to remedy or prevent any breach of this Undertaking (without limitation to any other remedy at law or in equity). 

4.6. This Undertaking shall be governed by and construed in accordance with the laws of the State of Israel, without giving effect to any
conflict of laws principles which may result in the application of the laws of any other jurisdiction. Any and all disputes in connection with this Undertaking shall be submitted to the exclusive jurisdiction of the competent courts or tribunals as
applicable, located in Tel-Aviv-Jaffa, Israel. It is agreed that each party irrevocably consents to the exercise of personal jurisdiction over such party by such court, agrees that venue shall be proper in
such court, and irrevocably waives and releases any and all defenses based on lack of personal jurisdiction, improper venue or forum non conveniens. 

4.7. If any provision of this Undertaking is determined by any court of competent jurisdiction to be invalid, illegal or unenforceable in any
respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto. If such clause or provision cannot be so enforced, such provision shall be stricken from this Undertaking only with respect to such
jurisdiction in which such clause or provision cannot be enforced, and the remainder of this Undertaking shall be enforced as if such invalid, illegal or unenforceable clause or provision had (to the extent not enforceable) never been contained in
this Undertaking. In addition, if any particular provision contained in this Undertaking shall for any reason be held to be excessively broad as to duration, geographical scope, activity or subject, it shall be construed by limiting and reducing the
scope of such provision so that the provision is enforceable to the fullest extent compatible with applicable law. 

  
 Confidential 

 
 23 

 4.8. The provisions of this Undertaking shall continue and remain in full force and effect
following the termination or expiration of the employment between the Company and Employee, for whatever reason. This Undertaking shall not serve in any manner so as to derogate from any of Employee’s obligations and liabilities under any
applicable law. 
 4.9. This Undertaking constitutes the entire agreement between Employee and the Company with respect to the subject
matter hereof and supersedes all prior agreements, proposals, understandings and arrangements, if any, whether oral or written, with respect to the subject matter hereof. No amendment, waiver or modification of any obligation under this Undertaking
will be enforceable unless set forth in a writing signed by an authorized officer of the Company. No delay or failure to require performance of any provision of this Undertaking shall constitute a waiver of that provision as to that or any other
instance. No waiver granted under this Undertaking as to any one provision herein shall constitute a subsequent waiver of such provision or of any other provision herein, nor shall it constitute the waiver of any performance other than the actual
performance specifically waived. 
 4.10. All notices and other communications under this Confidentiality Agreement shall be in writing and
shall be given in person, by fax, electronic or certified or registered mail and shall be deemed to have been duly given twenty-four (24) hours after transmission of a fax or electronic email, three (3) days after sending a notice by
certified or registered mail, or immediately upon delivery in person or explicit confirmation of receipt. 
 4.11. This Undertaking, the
rights of the Company hereunder, and the obligations of Employee hereunder, will be binding upon and inure to the benefit of their respective successors, assigns, heirs, executors, administrators and legal representatives. The Company may assign any
of its rights under this Undertaking. Employee may not assign, whether voluntarily or by operation of law, any of its obligations under this Undertaking, except with the prior written consent of an authorized officer of the Company. 

IN WITNESS WHEREOF, the undersigned executed and delivered this CONFIDENTIALITY, UNFAIR COMPETITION, AND OWNERSHIP OF INVENTIONS UNDERTAKING
effective as of the date first mentioned above. 
  

											
		 	Employee: 	 	/s/ Roni Mamluk	 		 	Date: December 26 2017
		 		 	Roni Mamluk	 		 		 	

  
 Confidential 

 
 24 

 

 
 March 31, 2019Ron 

Strictly Private & Confidential 
 Dear Roni
Mamluk, 
  

	Re:	 Change of Employment Terms; Special Bonus 

Following an annual compensation review, we are very pleased to inform you as follows: 

 

	1.	 Effective as of March 1, 2019, your Salary shall be increased to the total gross monthly amount of NIS
68,133, and, effective as of January 1, 2020, your Salary shall be increased to a gross monthly amount that is equal to the NIS equivalent of US$22,000 (based on the representative rate of exchange as of such date). The foregoing relates to
your current employment scope of 80% of a full-time employment, and shall be increased proportionally if and when the scope of your employment is increased. 

  

	2.	 The paragraph entitled “Further Education Fund” in Exhibit A of your Employment Agreement shall apply
only with respect to the term of your employment until February 28, 2019, and - with respect to your employment on and after March 1, 2019 - shall be replaced in its entirety with the following: 

“Further Education Fund. The Company shall contribute towards a Further Education Fund (‘Keren Hishtalmut’) (the
“Education Fund”) an amount equal to 7.5% of the Salary applicable to the month in respect of which such contribution is made, and Employee shall contribute towards such Education Fund an amount equal to 2.5% of such applicable
Salary (which contribution by Employee shall be made by way of a deduction by the Company of such amount from Employee’s monthly Salary and remitting same to such Education Fund). 

 

	3.	 In addition, as a result of the Company’s performance against its goals and your personal performance in
the year 2018, your annual bonus is a gross amount of NIS 288,000, to be paid together with your March 2019 salary. 

 Except as set out
in Sections 1 and 2 above, there are no other changes to your Employment Agreement with the Company dated as of November 30, 2017 (capitalized terms used herein shall have the meaning ascribed thereto therein), and your confidentiality
obligations under said Employment Agreement shall also apply to the content of this letter. 
 Again, we wish to thank you for your continuous contribution
to the Company. 
  

	
	Yours sincerely,
	
	/s/ Yuval Cabilly
	
	Ayala-Oncology Israel Ltd.
	Yuval Cabilly
	Chairman of the Board of Directors

 Confirmation 
 I
acknowledge receipt of the above letter and my agreement with its terms. 
  

	
	/s/ Roni Mamluk
	Roni Mamluk

  
 Ayala Pharmaceuticals |
info@ayalapharma.com | www.ayalapharma.com

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