Document:

Exhibit 10.11

 

Actelis

Networks

 

Date: November 30, 2017

 

Attention: Yoav Efron ID No 0239052570

Address: 17 Haoranim St., Ramat Efal 5296000

 

Re-: Personal Work Agreement

 

For employment at Actelis Networks Israel Ltd.
(Hereinafter: “the Company”), as of December 5, 2017 (hereinafter “the work commencement date”).

 

The division into sections and their headings
is intended for convenience purposes and they should not be used for interpretation. The Appendices to this Agreement constitute an integral
part hereof.

 

This Agreement is a personal Work Agreement and,
therefore, unless stated otherwise explicitly, regarding your employment in the Company, subject to any law, the conditions of any agreement
or arrangement, whether personal or collective, general or special and/or any Extension Order (apart from those that apply to all employers
in the economy) and/or custom and/or procedure and/or any other agreement existing or that shall exist in the future, between the Company
and its employees, shall not apply.

 

This Agreement has been written in the male gender
for convenience purposes only and it relates to both males and females equally.

 

		1.	Your Function in the Company

 

		1.1	You have been employed in the function of CFO. As a part of
your function, you must report to the Company CEO. To obviate any doubt, it is hereby clarified that, at its discretion, the Company
is entitled to change the content of your function from time to time.

 

As a part of your function, inter
alia, you must perform the following work:

 

		a.	Responsibility for managing the Parent Company’s funds in the US and the Company’s subsidiary in Israel

 

		b.	Administrative management of the site in Israel

 

		c.	Managerial responsibility for the Finance, Human Resources, Administration and IT Departments.

 

		1.2	Your employment site will be at the Company’s offices in Petach Tikva, unless you are required to travel,
from time to time for the purposes of executing your function.

 

		1.3	You are aware of and agree to the fact that, from time to time, you are likely to be required to travel
and sojourn overseas as a part of your function.

 

		1.4	You must fulfill your function honestly with dedication and loyalty and dedicate all your ability, proficiency
and skills for the purposes of fulfilling your function in the Company. You must dedicate all your corporate time, effort and attention
to fulfilling your function most efficiently and beneficially for the purposes of the Company and promoting the Company’s businesses.

 

		1.5	For the duration of this Agreement Period, you will not be employed and will not be involved in any form
whatsoever, whether for consideration or not, whether directly or indirectly, whether fully or partially, in any other business or occupation
whatsoever, in addition to your work in the Company, unless you have received the Company’s prior written consent to this.

 

		1.6	You may not exploit your status and/or function in the Company and/or the Company’s property whether directly
or indirectly, in a manner, that is likely to create a conflict of interests with your function in the Company, including for the purposes
of producing personal gain for yourself and/or for anyone on your behalf and you must preserve the good names of the Company, its employees,
managers and Shareholders and you may not execute any deed or default that could prejudice it. You must inform the Company CEO immediately
and without delay of any matter in which you have any personal interest whatsoever.

 

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		1.7	You hereby undertake not to receive any payment or other benefit from any third party related to your
work, directly or indirectly. It is hereby clarified that, in the event of a breach of an instruction in this section, the payment or
benefit that you shall receive as aforementioned and their profits, shall belong to the Company, which shall be entitled to deduct the
sum, or the value of the benefit from funds owing to you from it, without derogating from any of its rights pursuant to the law and/or
this Agreement.

 

		1.8	You must comply with all the instructions, disciplinary rules, stipulations, regulations, procedures and
Company resolutions relating to your employment and/or fulfilling your function.

 

		2.	Work Days and Work hours

 

		2.1	Work days in the Company are Sunday through Thursday. Your weekly rest day shall be Saturday.

 

		2.2	The conventional business hours in the Company are from 8 a.m. to 7 p.m., of which, during a regular day
there are 9 gross hours, which include a 30-minute lunch break, and a gross total of 195 monthly hours, constituting 186 net hours.

 

		2.3	The Company enables you, in coordination with your superiors and subject to the absence of any damage
to working with the Company’s customers, to work in the flexible hour method. Should you be forced to leave work on a particular day,
without completing your full work hours, for this or any other reason, you can supplement them on another day and vice versa – against
a day that, for some or other reason you were forced to work beyond 9 hours, you can work less than the full 9 gross hours on another
day. It must be understood that this arrangement shall not impart you with the right to any additional payment for overtime, beyond the
overtime that you are entitled to work, as provided in Section 3.2 below.

 

		2.4	It is hereby clarified that the flexibility given to you in planning your work hours is not intended to
enable you to work during hours that the Work Hours and Rest Law does not permit, such as working in excess of 11 net hours per day.

 

		3.	Wages and Overtime Payment

 

		3.1	In consideration for your work in the proposed job and fulfilling all your commitments pursuant to this
Agreement, you shall be entitled to receive a wage in the gross sum of NIS 19,350 every month (hereinafter: “the wages”).

 

		3.2	You shall also be entitled to a gross global monthly consideration of NIS 1,850 for overtime work “the
overtime payment”) for your work during an average 15 additional hours per month. Ex gratia, the Company will pay overtime,
whether you worked overtime during the month or not. In the event that the Company is required to pay an additional sum for the overtime
component, you must repay the Company all the surplus sums that the Company paid for the month in which you worked less than the aforementioned
number of overtime hours.

 

		3.3	Your wages with addition of the overtime payment manifests a gross total of 210 monthly hours. You are
not entitled to work more than 210 gross monthly hours, unless you have been given advance written authorization from your direct manager.
Should you work beyond the aforementioned number of hours without any of the mandatory authorizations, you shall not be entitled to any
additional consideration for them.

 

		3.4	The Company will deduct any sum that must be withheld pursuant to any law, including income tax, National
Insurance (Social Security) and health tax from your wages and overtime and other payments pursuant to this Agreement. You must inform
the Company of any change that occurs in relation to your status, that contains anything that could affect the tax rates paid by you.

 

		3.5	The Company will pay you your wages and overtime pay by the 9th of each regular calendar month.

 

		3.6	It is hereby clarified that your wages and social benefits to which you are entitled have, inter alia,
been established taking your commitments detailed in Appendix A into account.

 

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		3.7	You must maintain confidentiality of your wages and the other terms of your employment and you hereby
undertake not to disclose them to any other employees and/or to any third party during the Agreement Period or thereafter, whether directly
or indirectly.

 

		3.8	The Company shall be entitled to set off and deduct any sum owing to it from you from any sum owing from
it to you and, on signing this Agreement, you confirm the set off as aforementioned.

 

		3.9	Other than what has been expressly established in this Agreement or in any law applicable to this Agreement,
you shall not be entitled to any increments, linkages, consideration, bonus, payment or benefit whatsoever.

 

		3.10	It is hereby clarified that, unless otherwise provided in this Agreement, any payment and/or right and/or
bonus of any kind whatsoever to which you shall be entitled, including and, without derogating from the aforementioned generality: payments,
various kinds of social provisions, rights, increments and/or retirement terms shall be calculated based on the wages as defined in Section
3.1 above only and not from any payment of a right or other benefit to which you shall be entitled pursuant to this Agreement and pursuant
to any law.

 

		4.	Pension Plan

 

		4.1	As of the date established in the Extension Order [Integrated Version] for a Mandatory Pension (hereinafter:
“the Extension Order”), you shall be entitled to insurance pursuant to the provisions in the Extension Order, as they
shall be updated from time to time by law and, subject to the conditions established therein, according to the following provisions:

 

		(a)	On account of Severance pay – a sum equivalent to 8.33% of your wages.

 

		(b)	On account of allowances – A sum equivalent to 6.5% of your wages. If the period for which you are
insured is of the Managers Insurance type, the Company’s aforementioned payments will include the Company’s payment for acquiring cover
for the loss of work capability at the rate required for guaranteeing 75% of your wages, when, in any event the rate of the Company’s
provisions to allowances shall not be less than 5% of your wages.

 

		(c)	Simultaneously a sum equivalent to 6% of the wages that shall be transferred as a premium and the employee’s
share will be deducted from the wages.

 

		(d)	The Company and Employee’s provisions for allowances as aforementioned must be updated pursuant to the
provisions in the law.

 

		4.2	The Company’s provisions for severance pay shall be instead of full severance pay payment pursuant to
Section 14 of the Severance Pay Law, 5723 – 9063, as established in Section 9 of the Extension Order.

 

		4.3	The Company waives the right to a refund of the provisions for severance pay that were provided by it
pursuant to this section, unless your right to severance pay is negated in a verdict and should it be negated, or if you withdrew the
funds from the fund and from a Provident fund and/or from the policy not for “an entitling event” according to its sense in
the Extension Order.

 

		4.4	It must be clarified that, if you do not inform the Company as to in which the fund you wish to be insured,
within 60 days from the date of commencing your employment, the Company will ensure you in a Metav D.S. pension fund, which is the default
fund in the Company.

 

		5.	Enrichment Study Fund

 

		5.1	Every month, the Company will provide a sum equivalent to 7.5% of the wages and will deduct 2.5% of the
wages for the Employee’s share to the Study Fund of your choice and will transfer them to the Study Fund.

 

		5.2	It must be clarified that you alone will bear any tax applicable to this benefit.

 

		6.	Options

 

		6.1	Subject to the Board of Directors’ approval and the provisions in any law, the Parent Company will grant
you 4,921,584 Options for acquiring Ordinary Shares in the Parent Company (which constitute 1% of the Company’s shares at the time of
signing this Agreement), pursuant and subject to the provisions in the Parent Company’s Options Plan, as shall be approved if and when
it is approved by the Parent Company’s Board of Directors and pursuant to the Board’s sole discretion.

 

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		6.2	The terms of the aforementioned Options, such as: The strike price, the maturity period, the taxation
bracket applicable to the Options etc. will be established in a separate Options Agreement to be given to you, after and pursuant to the
approval of the Parent Company’s Board of Directors.

 

		7.	Additional Social Benefits

 

		7.1	Leave: You shall be entitled to 12 annual leave days per year or the number of leave days
according to law, whichever is the higher among them. You are hereby required to use all the leave days during the leave year in which
they are given. However, if you do not do so, with the Company’s agreement, you shall be entitled to take only seven leave days and to
add the remainder to the leave given in to following work years, as established in the Annual Leave Law. The leave date will be established
in coordination with the Company in a manner in which your leave will not prejudice the Company’s functioning and its needs. To obviate
any doubt, the Company is entitled to instruct you to go out on leave and to use your leave days and the Company is also entitled to put
its employees out on concentrated leave.

 

		7.2	Convalescence Fees: A monthly sum of NIS 300 will be paid to you as convalescence fees.

 

		7.3	Sick leave: You shall be entitled to sick leave and illness fees pursuant to the law. You
must inform the Company immediately of any absence in view of a disease and furnish the Company with a medical certificate that confirms
this. Absence for which no medical certificate is furnished, shall be deemed to be absence for leave.

 

		7.4	Reserve Duty: If you are called up for reserve service, the Company will pay you your full
wages for the reserve duty period, up to a maximum period of two reserve duty months per annum and, provided that you furnish the Company
with authorization for which you received the sums owing from the National Insurance Institute (National Security). If you receive any
sum whatsoever for reserve service from the IDF or from the National Insurance Institute, or from any other source, this sum shall belong
to the Company and must be transferred to it immediately on its receipt.

 

		7.5	Travel fees: You shall be entitled to a refund of traveling expenses from your residence
to your workplace, up to the ceiling specified in the Extension Order regarding the employer’s participation in travel expenses, as shall
apply to the economy from time to time or to payment for monthly charging tickets whichever is the cheaper between the alternatives.

 

		8.	The Agreement Period

 

		8.1	This Agreement will come into force on the date of commencing employment and is for an on specified period.

 

		8.2	Each Party shall be entitled to terminate this Agreement by giving the Second Party 60-days prior written
notice.

 

		8.3	During the prior notice period, you will continue with your work and transfer your function to anyone
that the Company establishes and pursuant to its instructions in an orderly manner to the Company’s satisfaction. However, the Company
is entitled to waive your services during the entire or part of the prior notice period, whether notice was given by you or by the Company,
provided that it pays you the prior notice consideration according to the law for the full prior notice period.

 

		8.4	Should you resign without giving prior notice as aforementioned in Section 8.2, the Company shall be entitled
to deduct the cash sum equivalent to the wages to which you would have been entitled had you worked for the prior notice period, from
any money owing to you from it, including wages.

 

		8.5	Without derogating from the Company’s rights pursuant to this Agreement or pursuant to the law, the Company
is entitled to terminate this Agreement and to dismiss you immediately without any need for giving prior notice and/or payment for the
prior notice period, on the occurrence of one of the following events: (1) you were convicted of an offense which included disgrace; or
(2) you betrayed the Company’s trust; or (3) you behaved in a manner that is unsuitable for your status and function in the Company in
a manner that prejudices the Company or its businesses; or (4) you seriously breached discipline; or (5) you acted in a manner that entitles
the Company to dismiss you pursuant to the law without paying you any severance pay.

 

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		8.6	On termination of your employment in the Company, for any reason whatsoever, prior to the Company releasing
the balance of any money owing to you, you must act as follows: (1) furnish the Company with all the documents and CD disks,/FLASH MEMORY
or any other magnetic media, the letters, records, reports, and all the other documents that you have that are related to your work in
the Company and/or to its operations as well as any of the Company’s equipment and/or other property that was placed at your disposal,
including a company car, telephone device, employee’s tag or any other equipment; (2) all the data linked to the Company or its business,
which is found on a personal computer under your ownership, should there be any such data, must be deleted in coordination with the Company;
(3) You must exercise your retirement in coordination with your superiors, including transferring the function in an organized manner
in a reasonable time schedule to be established by your superiors and you must transfer your function, the documents and all matters under
your treatment, to whom the Company instruct you, in an orderly manner and pursuant to the Company’s procedures.

 

		9.	The Company’s Computers

 

		9.1	Use of the Company’s computers including the electronic
mail systems and network and the Company’s communications means, is intended for work needs in the Company and must be executed
pursuant to the Company’s procedures as shall be furnished from time to time.

 

		9.2	The electronic mailbox placed at your disposal on the commencement
of your employment, is a professional mailbox for your work needs in the Company and you are expected use it solely professionally.

 

		9.3	It must be clarified that, in order to maintain its confidentiality
and prevent damages such as viruses and transferring information or software illegally or via a violation of rights and/or prejudicing
traffic on the Company’s computer and communications network and/or damage to the Company’s reputation and/or any other damage
to its business and/or regular working and its relationships with its customers and in order to ensure that using the computer systems
in the Company is performed for work needs, according to the conventional procedures in the Company and in order to prevent the Company’s
exposure to damages that could derive from use in violation of the procedures on its computer and communications network, the Company
monitors and controls all the data accumulated on the Company’s computers in the professional mailboxes and on any computer means
that the Company places at your disposal and/or any information transferred on the Company’s computers and communications network
and the Company also performs various backups of all the material transferred on the computer network in the Company.

 

		9.4	Monitoring will be executed at any time and without prior
notice using various means. Monitoring is likely to be technological in relation to the traffic scope and its content and human monitoring
when necessary, when suspicion arises as to a violation of procedures and/or when it is necessary to trace data for regular work needs,
for treating technical breakdowns and/or for any other need necessary for the normal management of the Company’s affairs.

 

		9.5	The Company reserves the right to control the computer means
given to for your work needs at any time and without prior notice and to block access to them for purposes of protecting its rights,
regular management, treatment of breakdowns and for any other professional and/or business need.

 

		9.6	You must avoid transferring and/or saving any personal information
that you do not wish to disclose in the professional mailbox and/or on any of the computer means furnished to you for your work needs,
in order to prevent unpleasantness and ensure professional use of the Company’s computers, including the electronic mail systems,
on the network, on the Company’s communications means and on the professional mailbox provided for use for your work needs,

 

		9.7	On signing this Agreement, you confirm that you understand
and agree, of your own free will that, the Company, as a Company, the major operations of which are performed using computer means, is
committed to activate all the monitoring and control means detailed in this Agreement and in the Company’s procedures and you accept
the limitations deriving from the possibility of activating any of the monitoring and control means detailed in this Agreement and in
the Company’s procedures.

 

		9.8	This section contains nothing to prejudice your right to open
a personal mailbox for yourself that is not on the Company’s computer means.

 

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		9.9	You are aware and you agree that, at any time, without prior
notice, the Company shall be entitled to use the information transferred on the computer and communications network in the Company for
the purposes of protecting its rights.

 

		10.	Assigning Rights

 

The Company shall be entitled to assign
all or some of its rights and obligations pursuant to this Agreement to any associated company which controls the Company and/or is under
its control and/or is under joint control with the Company.

 

		11.	Sundries

 

		11.1	As a material condition to engaging in this Agreement, together
with signing this Agreement, you must sign a Written Undertaking to preserve confidentiality, non-competition and the intellectual
property rights attached to this Agreement as Appendix A and which constitutes an integral part hereof.

 

		11.2	You must keep the provisions in this Agreement with absolute
confidentially and not disclose any item whatsoever of it to any person or entity whatsoever or to make any use whatsoever of any of
its instructions.

 

		11.3	This Agreement also constitutes “notification”
pursuant to the requirements of the Notice to Employee and Job Candidate Law (Working Conditions and Recruitment and Recruitment Procedures)
Law, 5762 – 2002.

 

		11.4	On signing below, you confirm that you are entitled to engage
in this Agreement and accept all the commitments pursuant to it, that there are no restrictions, pursuant to any contract or in any other
manner, to your engagement in this Agreement and your employment in the Company and that in this engagement, you are not violating any
other agreement or commitment to which you are a party or were a party.

 

		11.5	This Agreement and its Appendices consolidate all that is
agreed upon between you and the Company. On signing this Agreement, all agreements, understandings and Written Undertakings that were
exchanged between the Parties prior to signing it, should there have been any, are null and void. Any addition or amendment to this Agreement
must be made in writing and shall be binding after being signed by both Parties.

 

		11.6	The conditions of this Agreement must, to the extent possible,
be interpreted in a manner that enables preserving the legality and force. Without derogating from the aforementioned, in any event that
any of the conditions in this Agreement is interpreted illegally, lacking any force or as unenforceable, because of the fact that it
has broader force that meets the eye or has content that is not sufficiently restricted in time, the Parties hereby agree, subject to
the provisions of the law, the tribunal that interprets that condition as aforementioned, to exchange that condition that was interpreted
as aforementioned with an acceptable condition the validity and meaning of which shall be close to the extent possible from a legal aspect,
to the condition that it replaced. The interpretation of that condition as aforementioned will not have any effect on the legality and
force of any other condition in this Contract.

 

		11.7	The Parties addresses are as detailed above and it has been
agreed that any notice sent by one Party to the other by registered mail shall be deemed to have been received by the second Party 72
hours from the date of sending it (subject to presenting confirmation of delivery by registered mail) and, if delivered manually –
at the time of its delivery (subject to presenting an “accepted” stamp).

 

	 	Yours sincerely,\
	 	[signature]
	 	[stamp] Actelis
	 	XLP8
	 	Actelis Networks Israel Ltd.

 

I have read this Agreement assiduously; I have understood its content
and I agree to all its provisions.

 

	 	Employee’s Name	 Yoav
    Efron
	 	Signature [signature]
	 	Date: December 5, 2017

  

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Appendix A

 

Written Undertaking to Preserve Confidentiality
and Intellectual Property

 

I, the undersigned, Yoav Efron, ID No 023902570,
hereby declare vis-à-vis Actelis Networks Israel Ltd. and vis-à-vis its Parent Company/Subsidiaries and companies associated
with it in Israel and overseas (hereinafter: “the Company”), that I am aware that during my employment in the Company
information (as defined below) will be disclosed to me and/or become my knowledge and that I am aware that the information is of the primary
and most essential assets of the Company and, therefore, I declare and undertake the following:

 

		1.	Preserving Confidentiality the Company’s Rules

 

		1.1	I undertake to preserve absolute confidentiality and not to
disclose and/or instruct and/or transfer, whether directly or indirectly, to any person and/or entity whatsoever, including the Company’s
employees for whom the information is not necessary for fulfilling their functions, any information (as defined below) whatsoever about
the Company, the Company’s occupations (as defined below) its businesses and operations and/or any of the Company’s affairs
that are brought to my knowledge, orally, in writing or in any form and/or on any other media, during and/or following and/or in the
framework of my employment in the Company, whether directly or indirectly, including information that I obtain from others who are associated
directly or indirectly with the Company and/or any information of any party with whom the Company has or shall have relationships.

 

		1.2	In this Written Undertaking, “information” means
all the information and know-how, oral, written and/or in any form and/or on any other media, that the Company currently has and/or shall
have in the future or that anyone associated with the Company and/or is in contact in any manner whatsoever with the Company and/or its
businesses and/or its operations and/or with companies and/or corporations and/or entities associated with it.

 

For demonstration purposes only and,
without derogating from the aforementioned generality, inter alia, information includes all the Company’s commercial secrets, any
information relating directly or indirectly to the Company, its property and businesses, any information relating directly or indirectly
to research and development related to existing or future products, production methods, prototypes, production designs, inventions, hardware,
software, production processes, discoveries, improvements, developments, innovations, models, blueprints, sketches, design, calculations,
diagrams, formulae, computer files, computer software, data, design processes, customer lists, supplier lists, pricing, prices, terms
of payment, marketing methods and marketing subjects, programs, business secrets, business plans, customer names, sales, prices, and any
other information relating to the Company’s businesses and/or its subsidiaries and/or the Company’s affiliates and/or its customers, including
customers with whom the Company is conducting negotiations and including current and future affiliated companies and/or subsidiaries,
all whether the information can be protected as a patent or any other title rights were not.

 

		1.3	I hereby confirm that the Company is committed to secrecy
by virtue of agreements that it has with suppliers, customers and the third parties and I undertake to faithfully comply with the Company’s
commitments vis-à-vis these entities for maintaining confidentiality and non-competition.

 

		1.4	In any event of termination of the engagement between us,
I undertake that any information, on any media whatsoever, at my disposal or under my control, will be returned to the Company immediately
on giving notice of terminating the engagement between us.

 

		1.5	I hereby undertake that I will maintain the Company’s
equipment and that I will not distance from the Company’s offices area and will not take with me nor deliver to others, to any
person and/or entity whatsoever whether directly or indirectly, material and/or raw material and/or products and/or parts of the product
and/or model and/or document and/or disk and/or other media for storing data and/or photographed and/or printed and/or duplicated objects
etc. that contain all or some of the aforementioned information and I shall not make any use, including duplicating, producing, selling,
transferring, copying and distributing, changing, copying, of all or some of the information, apart from the use necessary for the purposes
of executing my function in the Company, which is performed for the Company and to its benefit exclusively.

 

		1.6	I hereby undertake to adopt all the necessary means in order
to prevent exposure of information or any part thereof to any entity who is not entitled to this pursuant to the provisions in this Confidentiality
Agreement.

 

		1.7	I hereby give notice and confirm that my commitments pursuant
to this section are not limited in time and/or territory and they will continue to remain in force even after this Agreement is terminated
or after the expiry of the employees-employer relationships between me and the Company for any reason whatsoever.

 

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		2.	Employment Restrictions and Non-Soliciting

 

		2.1	In this section, the following terms shall have the meanings
next to them:

 

“Restriction period”
– A 12-months period, commencing from the date on which I terminate my employment in the Company for any reason whatsoever.

 

“The Company’s occupations”–
Developing communication systems that enable transferring a broadband on a copper network.

 

“A similar business”
– An entity that competes with the Company or that assists competing against the Company or attempts to compete against the Company
and all whether directly or indirectly and that deals in identical or similar operations, occupations and deeds to the Company’s occupations
as defined above, whether it is an incorporated entity or an individual.

 

“To deal in a business”
– Whether directly or indirectly, for consideration or not, as detailed below: To operate a business, to be an employee of a business,
retained or for a salary, pursuant to an appointment letter or in any other manner, to be an interested party in a business or with any
other involvement, as an owner, shareholder, apart from holding shares in public companies listed on a recognized stock exchange, to consolidate
with a business or engage in any manner whatsoever with it, to advise the business and/or finance a business or to be a guarantor for
its commitments in any manner whatsoever, to be a stakeholder in a partnership, director, functionary, agent or contractor.

 

		2.2	I undertake that, during my tenure in the Company and, during
the restricted period, I will not deal in any similar business in Israel or overseas, unless after receiving the Company’s prior
written authorization.

 

		2.3	Without derogating from the aforementioned, I undertake that,
during the restricted period, I will avoid approaching or working or executing jobs, whether for a consideration or not, whether directly
or indirectly, for a person or corporation, that deal in the Company’s businesses, which, during my tenure in the Company had business
relationships with the Company and/or any other entity that conducted negotiations regarding business relationships with the Company
and/or the Company’s customers.

 

		2.4	I undertake that, during my tenure in the Company and in the
restricted period, I will not solicit the employees of the Company to resign their work, I will not employ them whether directly or indirectly,
will not help them to find work in a similar business, will not suggest that they work or provide services in any manner whatsoever to
any party whatsoever, unless after receiving the Company’s prior written authorization.

 

		2.5	I hereby undertake that, during my tenure in the Company and
in the restricted period, I will not persuade or cause others to persuade customers and/or potential customers and/or suppliers and/or
agents of the Company (including suppliers and/or agents with whom the Company conducted negotiations in preparation for signing an agreement
prior to or at the time of the termination of my work in the Company) to receive a license or to hire a product or service that competes
with the products and services offered by the Company.

 

		2.6	I am aware and agree that my function in the Company is a
function that requires a special degree of personal loyalty and, therefore, I undertake the commitments as detailed in Section 2 above.
Furthermore, I am aware that I am receiving a special consideration for my commitments as aforementioned, including, inter alia,
participation in the Company’s Options Program and a high salary.

 

		2.7	The contents in this section contain nothing to derogate from
my commitments as aforementioned in this Written Undertaking and/or in the Work Agreement.

 

		3.	Intellectual Property

 

		3.1	All rights, including the right to submit applications for
a patent and/or model, the right to a patent and/or model, commercial secrets, trademarks, copyrights and industrial or intellectual
title rights whatsoever, regarding inventions (that can be patented or others), progresses, developments, improvements, concepts, applications,
that I invent, develop, steer, whether on my own or together with the Company’s other employees or any of them, or that reach me
in any other manner, in relation to my work in the Company or in relation to its occupations, as they are and shall be from time to time,
or that were created during my tenure in the Company, including any rights accompanying the products and in any future development of
the products and accompaniments, shall be the property of the Company shall belong to it for any need and matter in a manner that it
will be entitled to treat them as an owner and I waive any right as aforementioned. To obviate any doubt, it is hereby clarified that
the contents in this subsection above shall also apply to the matter of inventing a service in its sense in the Patents Law, 5727 –
1967 (hereinafter: “the Patents Law”), but, under no circumstances that shall not be any service invention for my
title, unless with the Company’s written authorization for this.

 

    	[2 sets of initials]
	8

     

    

 

		3.2	Without derogating from the aforementioned, I hereby irrevocably
confirm that the wages paid to me by the Company are and shall be the full and final consideration for and in relation to any inventions
whatsoever, including invention of the service and/or in relation to the commercial or other use of the rights and/or inventions as aforementioned.
I shall not be entitled to any royalties or other payments for all relating to an invention of a service and/or in relation to commercial
or other use of the rights as aforementioned, which includes, without derogating from the aforementioned generality, the fact that I
shall not be entitled to a consideration pursuant to Section 134 of the Patents Law beyond the wages paid to me and this section constitutes
agreement for the purposes of Section 134 of the Patents Law.

 

		3.3	In any registration of rights pursuant to this section, whether
as a patent, model or in any other manner, the Company and solely the Company shall be registered as the exclusive owner of the rights
to the patent or model.

 

		3.4	I will assist the Company in everything required, in order
to register its rights in any development and/or invention, as aforementioned, whether in Israel or overseas, during my tenure or thereafter
and I will sign any document necessary in this regard.

 

		3.5	I undertake to cooperate and furnish any item necessary for
executing registration, to assist preparing and registering patents and/or any other title right in favor of the Company and/or subsidiaries
and/or associated companies in Israel and/or overseas and to sign any required document for registering in Israel and overseas and to
cooperate and assist the Company to defend and enforce its rights. This commitment shall apply both during my tenure in the Company and
thereafter, provided that, if my assistance is required, the Company must bear the expenses relating to this.

 

		3.6	I undertake to inform, disclose and furnish the Company with
any information reaching me in any manner whatsoever, including information that is the result of a concept or development of mine during
my tenure in the Company whether it can be defended as a patent or not, can be defended as a copyright or other title rights or not,
can be registered or not.

 

		3.7	I undertake not to register domain names, tradenames or any
other rights that could restrict the Company’s operations or prejudice the Company directly or indirectly, in my name. In the event
of registering a right as aforementioned by me, I undertake to transfer all the rights to the Company in consideration for the costs
of registering the right only.

 

		4.	Sundries

 

		4.1	I declare and confirm that I am aware of the fact that any
violation of my commitments as aforementioned or any part thereof could cause the most severe and irreversible damages to the Company,
entities, corporations and/or its associated companies, for which a pecuniary compensation will not constitute a proper remedy and relief
and, therefore, in the event of any violation of my commitments pursuant to this I hereby agree and undertake not to oppose the fact
that a competent court will issue a temporary injunction and/or other orders against me aimed at preventing and/or stopping the violation.

 

		4.2	Without derogating from the provisions in Section 4.1 above,
I undertake to compensate and indemnify the Company for any damages and/or expenses caused to it or to its associated companies, as a
result of a violation of my aforementioned commitments, including court fees and legal expenses, losses and/or damage to reputation,
without derogating from any remedy and/or relief available to you pursuant to any law.

 

		4.3	Without derogating from the provisions in Subsections 4.1-4.2,
I agree and confirm that any benefits and/or profits and/or consideration produced by me and/or by anyone on my behalf, whether directly
or indirectly, in view of a violation of my commitments vis-à-vis the Company, including my commitments as provided in this Written
Undertaking, shall belong exclusively to the Company and must be sent to it without delay.

 

		4.4	My commitments pursuant to this Written Undertaking, apart
from my commitments for non-competition, shall be without any time restriction even after termination of my employment in the Company,
whatever the reason for terminating my employment might be.

 

		4.5	I hereby declare and confirm that I am aware that had it not
been for my commitments pursuant to this Written Undertaking, the Company would not have engaged with me and expose in information whatsoever
to me.

 

In witness whereof I have hereunto set my signature
today.

 

Signature [signature] Date December
5, 2017

 

 

[2 sets of initials]

9Exhibit 10.15 

 

FORM OF

INDEMNIFICATION AGREEMENT

 

THIS INDEMNIFICATION AGREEMENT
(this “Agreement”) is made and entered into as of April __, 2022 by and between Actelis Networks, Inc., a Delaware
corporation (“Actelis”), and _________________ (“Indemnitee”).

 

WITNESSETH:

 

WHEREAS, highly competent
persons have become more reluctant to serve as directors or in other capacities unless they are provided with adequate protection through
insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and
activities on behalf of the corporation;

 

WHEREAS, the Board of Directors
of Actelis (the “Board”) has determined that the increased difficulty in attracting and retaining such persons is detrimental
to the best interests of Actelis’ stockholders and that Actelis should act to assure such persons that there will be increased certainty
of such protection in the future;

 

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

 

WHEREAS, this Agreement is
a supplement to and in furtherance of the Certificate of Incorporation and Bylaws of Actelis and any resolutions adopted pursuant thereto,
and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and

 

WHEREAS, Indemnitee does not
regard the protection available under Actelis’ Certificate of Incorporation, Bylaws, and insurance as adequate in the present circumstances,
and may not be willing to serve as a director without adequate protection, and Actelis desires Indemnitee to serve in such capacity. Indemnitee
is willing to serve and to take on additional service for or on behalf of Actelis on the condition that she be so indemnified.

 

NOW, THEREFORE, in consideration
of Indemnitee’s agreement to serve as a director of Actelis after the date hereof, the parties hereto agree as follows:

 

1. Indemnity
of Indemnitee. Actelis hereby agrees to hold harmless and indemnify Indemnitee to the fullest extent permitted by law, as such may
be amended from time to time. In furtherance of the foregoing indemnification, and without limiting the generality thereof:

 

(a) Proceedings Other Than
Proceedings by or in the Right of Actelis. Indemnitee shall be entitled to the rights of indemnification provided in this Section
l(a) if, by reason of his Entity Status (as hereinafter defined), Indemnitee is, or is threatened to be made, a party to or participant
in any Proceeding (as hereinafter defined) other than a Proceeding by or in the right of Actelis. Pursuant to this Section l(a), Indemnitee
shall be indemnified against all Expenses (as hereinafter defined) and Liabilities (as hereinafter defined) actually and reasonably incurred
by him, or on his behalf, in connection with such Proceeding or any claim, issue or matter therein, if the Indemnitee acted in good faith
and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of Actelis, and with respect to any criminal
Proceeding, had no reasonable cause to believe the Indemnitee’s conduct was unlawful.

 

     

     

    

 

(b)  Proceedings
by or in the Right of Actelis. Indemnitee shall be entitled to the rights of indemnification provided in this Section l(b) if, by
reason of his Entity Status, the Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding brought by or
in the right of Actelis. Pursuant to this Section l(b), Indemnitee shall be indemnified against all Expenses actually and reasonably incurred
by the Indemnitee, or on the Indemnitee’s behalf, in connection with such Proceeding if the Indemnitee acted in good faith and in
a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of Actelis; provided, however, if applicable
law so provides, no indemnification against such Expenses shall be made in respect of any claim, issue or matter in such Proceeding as
to which Indemnitee shall have been adjudged to be liable to either of Actelis unless and to the extent that a court of law shall determine
that such indemnification may be made.

 

(c) Indemnification for Expenses
of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee
is, by reason of his Entity Status, a party to and is successful, on the merits or otherwise, in any Proceeding, she shall be indemnified
to the maximum extent permitted by law, as such may be amended from time to time, against all Expenses actually and reasonably incurred
by him or on his behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits
or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, Actelis shall indemnify Indemnitee against
all Expenses actually and reasonably incurred by him or on his behalf in connection with each successfully resolved claim, issue or matter.
For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal,
with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

2. Additional
Indemnity. In addition to, and without regard to any limitations on, the indemnification provided for in Section 1 of this Agreement,
Actelis shall and hereby does indemnify and hold harmless Indemnitee against all Expenses and Liabilities actually and reasonably incurred
by him or on his behalf if, by reason of his Entity Status, she is, or is threatened to be made, a party to or participant in any Proceeding
(including a Proceeding by or in the right of Actelis), including, without limitation, all liability arising out of the negligence or
active or passive wrongdoing of Indemnitee. The only limitation that shall exist upon Actelis’ obligations pursuant to this Agreement
shall be that Actelis shall not be obligated to make any payment to Indemnitee that is finally determined (under the procedures, and subject
to the presumptions, set forth in Sections 6 and 7 hereof) to be unlawful.

 

3. Contribution.

 

(a) Whether or not the indemnification
provided in Sections 1 and 2 hereof is available, in respect of any threatened, pending or completed Proceeding in which Actelis is jointly
liable with Indemnitee (or would be if joined in such Proceeding), Actelis shall pay, in the first instance, the entire amount of any
judgment or settlement of such Proceeding without requiring Indemnitee to contribute to such payment and Actelis hereby waives and relinquishes
any right of contribution it may have against Indemnitee. Actelis shall not enter into any settlement of any Proceeding in which Actelis
is jointly liable with Indemnitee (or would be if joined in such Proceeding) unless such settlement provides for a full and final release
of all claims asserted against Indemnitee.

 

    -2-

     

    

 

(b) Without diminishing or
impairing the obligations of Actelis set forth in the preceding subparagraph, if, for any reason, Indemnitee shall elect or be required
to pay all or any portion of any Liabilities in any threatened, pending or completed Proceeding in which Actelis is jointly liable with
Indemnitee (or would be if joined in such Proceeding), Actelis shall contribute to the amount of Expenses and Liabilities actually and
reasonably incurred and paid or payable by Indemnitee in proportion to the relative benefits received by Actelis collectively and all
officers, directors or employees of Actelis, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such
Proceeding), on the one hand, and Indemnitee, on the other hand, from the transaction from which such Proceeding arose; provided, however,
that the proportion determined on the basis of relative benefit may, to the extent necessary to conform to law, be further adjusted by
reference to the relative fault of Actelis and all officers, directors or employees of Actelis (other than Indemnitee) who are jointly
liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee, on the other hand, in connection with
the events that resulted in such Expenses and Liabilities, as well as any other equitable considerations which the Law may require to
be considered. The relative fault of Actelis and all officers, directors or employees of Actelis, other than Indemnitee, who are jointly
liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee, on the other hand, shall be determined
by reference to, among other things, the degree to which their actions were motivated by intent to gain personal profit or advantage,
the degree to which their liability is primary or secondary and the degree to which their conduct is active or passive.

 

(c) Actelis hereby agrees
to fully indemnify and hold Indemnitee harmless from any claims of contribution which may be brought by officers, directors or employees
of Actelis, other than Indemnitee, who may be jointly liable with Indemnitee.

 

(d) To the fullest extent
permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever,
Actelis, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for Liabilities and/or for
Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and
reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by Actelis and
Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of Actelis
(and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s).

 

4. Indemnification
for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of his
Entity Status, a witness in any Proceeding to which Indemnitee is not a party, she shall be indemnified against all Expenses actually
and reasonably incurred by him or on his behalf in connection therewith.

 

    -3-

     

    

 

5. Advancement
of Expenses. Notwithstanding any other provision of this Agreement, Actelis shall advance all Expenses incurred by or on behalf of
Indemnitee in connection with any Proceeding by reason of Indemnitee’s Entity Status within thirty (30) days after the receipt by
Actelis of a statement or statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after
final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall
include or be preceded or accompanied by an undertaking by or on behalf of Indemnitee to repay any Expenses advanced if it shall ultimately
be determined that Indemnitee is not entitled to be indemnified against such Expenses. Any advances and undertakings to repay pursuant
to this Section 5 shall be unsecured and interest free.

 

6. Procedures
and Presumptions for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure for Indemnitee
rights of indemnity that are as favorable as may be permitted under the Delaware General Corporation Law and public policy of the State
of Delaware. Accordingly, the parties agree that the following procedures and presumptions shall apply in the event of any question as
to whether Indemnitee is entitled to indemnification under this Agreement:

 

(a) To obtain indemnification
under this Agreement, Indemnitee shall submit to Actelis a written request, including therein or therewith such documentation and information
as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to
indemnification. The Chief Executive Officer of Actelis shall, promptly upon receipt of such a request for indemnification, advise the
Board in writing that Indemnitee has requested indemnification.

 

(b) Upon written request by
Indemnitee for indemnification pursuant to the first sentence of Section 6(a) hereof, a determination, if required by applicable law,
with respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the following four methods, which
shall be at the election of the Board: (1) by a majority vote of the Disinterested Directors, even though less than a quorum, (2) by a
committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum, (3)
if there are no Disinterested Directors or if the Disinterested Directors so direct, by Independent Counsel in a written opinion to the
Board, a copy of which shall be delivered to the Indemnitee, or (4) if so directed by the Board, by the stockholders of Actelis.

 

(c) If the determination of
entitlement to indemnification is to be made by Independent Counsel pursuant to Section 6(b) hereof, the Independent Counsel shall be
selected as provided in this Section 6(c). The Independent Counsel shall be selected by the Board. Indemnitee may, within ten (10) days
after such written notice of selection shall have been given, deliver to Actelis a written objection to such selection; provided, however,
that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent
Counsel” as defined in Section 13 of this Agreement, and the objection shall set forth with particularity the factual basis
of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If a written objection
is made and substantiated, the Independent Counsel selected may not serve as Independent Counsel unless and until such objection is withdrawn
or a court has determined that such objection is without merit. If, within thirty (30) days after submission by Indemnitee of a written
request for indemnification pursuant to Section 6(a) hereof, no Independent Counsel shall have been selected and not objected to, either
of Actelis or Indemnitee may petition the Court of Chancery of the State or Delaware or other court of competent jurisdiction for resolution
of any objection which shall have been made by the Indemnitee to the Board’s selection of Independent Counsel and/or for the appointment
as Independent Counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect
to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 6(b) hereof. Actelis
shall pay any and all reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting
pursuant to Section 6(b) hereof, and Actelis shall pay all reasonable fees and expenses incident to the procedures of this Section 6(c),
regardless of the manner in which such Independent Counsel was selected or appointed.

 

    -4-

     

    

 

(d) In making a determination
with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall presume that
Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this presumption shall have the burden of proof
and the burden of persuasion by clear and convincing evidence. Neither the failure of Actelis (including by its directors or Independent
Counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper
in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by Actelis (including
by its directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action
or create a presumption that Indemnitee has not met the applicable standard of conduct.

 

(e) Indemnitee shall be deemed
to have acted in good faith if Indemnitee’s action is based on the records or books of account of the Enterprise (as hereinafter
defined), including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise in the course of
their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports made to the Enterprise
by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Enterprise. In addition,
the knowledge and/or actions, or failure to act, of any manager, director, officer, agent or employee of the Enterprise shall not be imputed
to Indemnitee for purposes of determining the right to indemnification under this Agreement. Whether or not the foregoing provisions of
this Section 6(e) are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner
she reasonably believed to be in or not opposed to the best interests of Actelis. Anyone seeking to overcome this presumption shall have
the burden of proof and the burden of persuasion by clear and convincing evidence.

 

(f) If
the person, persons or entity empowered or selected under Section 6 to determine whether Indemnitee is entitled to indemnification shall
not have made a determination within sixty (60) days after receipt by Actelis of the request therefor, the requisite determination of
entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled to such indemnification absent (i) a
misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially
misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided,
however, that such 60-day period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons
or entity making such determination with respect to entitlement to indemnification in good faith requires such additional time to obtain
or evaluate documentation and/or information relating thereto; and provided, further, that the foregoing provisions of this Section 6(f)
shall not apply if the determination of entitlement to indemnification is to be made by the members pursuant to Section 6(b) of this Agreement
and if within fifteen (15) days after receipt by Actelis of the request for such determination, the Board or the Disinterested Directors,
if appropriate, resolve to submit such determination to the members for their consideration at an annual or special meeting to be held
within seventy-five (75) days after such receipt and such determination is made.

 

(g) Indemnitee shall cooperate
with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including
providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or
otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any
Independent Counsel or member of the Board shall act reasonably and in good faith in making a determination regarding the Indemnitee’s
entitlement to indemnification under this Agreement. Any costs or expenses (including attorneys’ fees and disbursements) incurred
by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by Actelis (irrespective of
the determination as to Indemnitee’s entitlement to indemnification) and Actelis hereby indemnifies and agree to hold Indemnitee
harmless therefrom.

 

    -5-

     

    

 

(h) Actelis acknowledges that
a settlement or other disposition short of final judgment may be successful if it permits a party to avoid expense, delay, distraction,
disruption and uncertainty. In the event that any Proceeding to which Indemnitee is a party is resolved in any manner other than by adverse
judgment against Indemnitee (including, without limitation, settlement of such Proceeding with or without payment of money or other consideration)
it shall be presumed that Indemnitee has been successful on the merits or otherwise in such Proceeding. Anyone seeking to overcome this
presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence.

 

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

 

7. Remedies of
Indemnitee.

 

(a) In the event that (i)
a determination is made pursuant to Section 6 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement,
(ii) advancement of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no determination of entitlement to indemnification
is made pursuant to Section 6(b) of this Agreement within ninety (90) days after receipt by Actelis of the request for indemnification,
(iv) payment of indemnification is not made pursuant to this Agreement within ten (10) days after receipt by Actelis of a written request
therefor or (v) payment of indemnification is not made within ten (10) days after a determination has been made that Indemnitee is entitled
to indemnification or such determination is deemed to have been made pursuant to Section 6 of this Agreement, Indemnitee shall be entitled
to an adjudication in an appropriate court of the State of Delaware, or in any other court of competent jurisdiction, of Indemnitee’s
entitlement to such indemnification. Indemnitee shall commence such proceeding seeking an adjudication within one (1) year following the
date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 7(a). Actelis shall not oppose Indemnitee’s
right to seek any such adjudication.

 

(b) In the event that a determination
shall have been made pursuant to Section 6(b) of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding
commenced pursuant to this Section 7 shall be conducted in all respects as a de novo trial on the merits, and Indemnitee shall not be
prejudiced by reason of the adverse determination under Section 6(b).

 

(c) If a determination shall
have been made pursuant to Section 6(b) of this Agreement that Indemnitee is entitled to indemnification, Actelis shall be bound by such
determination in any judicial proceeding commenced pursuant to this Section 7, absent (i) a misstatement by Indemnitee of a material fact,
or an omission of a material fact necessary to make Indemnitee’s misstatement not materially misleading in connection with the application
for indemnification, or (ii) a prohibition of such indemnification under applicable law.

 

(d) In the event that Indemnitee,
pursuant to this Section 7, seeks a judicial adjudication of his rights under, or to recover damages for breach of, this Agreement, or
to recover under any directors’ and officers’ liability insurance policies maintained by Actelis, Actelis shall pay on his
behalf, in advance, any and all expenses (of the types described in the definition of Expenses in Section 13 of this Agreement) actually
and reasonably incurred by him in such judicial adjudication, regardless of whether Indemnitee ultimately is determined to be entitled
to such indemnification, advancement of expenses or insurance recovery.

 

(e) Actelis shall be precluded
from asserting in any judicial proceeding commenced pursuant to this Section 7 that the procedures and presumptions of this Agreement
are not valid, binding and enforceable and shall stipulate in any such court that Actelis is bound by all the provisions of this Agreement.
Actelis shall indemnify Indemnitee against any and all Expenses and, if requested by Indemnitee, shall (within ten (10) days after receipt
by Actelis of a written request therefore) advance, to the extent not prohibited by law, such Expenses to Indemnitee, which are incurred
by Indemnitee in connection with any action brought by Indemnitee for indemnification or advance of Expenses from Actelis under this Agreement
or under any directors’ and officers’ liability insurance policies maintained by Actelis, regardless of whether Indemnitee
ultimately is determined to be entitled to such indemnification, advancement of Expenses or insurance recovery, as the case may be.

 

    -6-

     

    

 

(f) Notwithstanding anything
in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement shall be required to be
made prior to the final disposition of the Proceeding.

 

8. Non-Exclusivity;
Survival of Rights; Insurance; Subrogation.

 

(a) The rights of indemnification
as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under
applicable law, the Certificate of Incorporation or Bylaws of Actelis, any agreement, a vote of stockholders, a resolution of directors
or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee
under this Agreement in respect of any action taken or omitted by such Indemnitee in his Entity Status prior to such amendment, alteration
or repeal. To the extent that a change in the Delaware General Corporation Law, whether by statute or judicial decision, permits greater
indemnification than would be afforded currently under the Certificate of Incorporation and Bylaws of Actelis and this Agreement, it is
the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right
or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative
and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion
or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right
or remedy.

 

(b) To the extent that Actelis
maintains an insurance policy or policies providing liability insurance for directors, officers, employees, or agents or fiduciaries of
Actelis or of any other Enterprise that such person serves at the request of Actelis, Indemnitee shall be covered by such policy or policies
in accordance with its or their terms to the maximum extent of the coverage available for any director, officer, employee, agent or fiduciary
under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, Actelis has director
and officer liability insurance in effect, Actelis shall give prompt notice of the commencement of such Proceeding to the insurers in
accordance with the procedures set forth in the respective policies. Actelis shall thereafter take all necessary or desirable action to
cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms
of such policies.

 

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

 

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

 

    -7-

     

    

 

(e) Actelis’ obligation
to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of Actelis as a manager, director, officer,
employee or agent of any other Enterprise shall be reduced by any amount Indemnitee has actually received and retained as indemnification
or advancement of expenses from such other Enterprise.

 

(f) The
parties hereby agree that any directors and officers liability insurance maintained by Actelis (the “Actelis D&O Insurance”)
is the secondary indemnification source (i.e., such directors and officers liability insurance is secondary and any obligation of each
of Actelis to advance expenses or to provide indemnification pursuant to this Agreement for the same expenses or liabilities incurred
by Indemnitee are primary). The parties further agree that any rights to indemnification, advancement of expenses, and/or insurance provided
by Independent Health Corporation or any of its Affiliates (collectively, the “Tertiary Indemnitor”) is the tertiary
indemnification source behind the indemnification obligations of Actelis provided in this Agreement and the Actelis D&O Insurance
such that the Tertiary Indemnitor shall have no obligation to pay Indemnitee any sum unless (i) neither Actelis nor the Actelis D&O
Insurance has any obligation to pay, or advance such sum or (ii) Actelis and the Actelis D&O Insurance has not paid a portion (or
all) of such sum. Actelis agrees: (i) that it is indemnitor of first resort, (ii) that, to the extent set forth herein, it is required
to advance the full amount of expenses incurred by Indemnitee and shall be liable for the full amount of all Expenses and Liabilities
to the extent legally permitted and as required by the terms of this Agreement, without regard to any rights Indemnitee may have against
the Tertiary Indemnitor, and (iii) that it irrevocably waives, relinquishes, and releases the Tertiary Indemnitor from any and all claims
against the Tertiary Indemnitor for contribution, subrogation, or any recovery of any kind in respect of its obligations as an indemnitor
under this Agreement. Actelis further agrees that no advancement or payment by the Tertiary Indemnitor on behalf of Indemnitee with respect
to any claim for which Indemnitee sought indemnification from either Actelis or the Actelis D&O Insurance shall affect the foregoing.
Actelis and Indemnitee agree that the Tertiary Indemnitors are express third party beneficiaries of the terms of this Section 8(f).

 

9. Exception
to Right of Indemnification. Notwithstanding any provision in this Agreement, Actelis shall not be obligated under this Agreement
to make any indemnity in connection with any claim made against Indemnitee:

 

(a) for which payment has
actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except with respect to any excess
beyond the amount paid under any insurance policy or other indemnity provision; or

 

(b) for an accounting of profits
made from the purchase and sale (or sale and purchase) by Indemnitee of securities of Actelis within the meaning of Section 16(b) of the
Securities Exchange Act of 1934, as amended, or similar provisions of state statutory law or common law; or

 

(c) in connection with any
Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated
by Indemnitee against Actelis or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding
(or any part of any Proceeding) prior to its initiation, or (ii) Actelis provides the indemnification, in its sole discretion, pursuant
to the powers vested in Actelis under applicable law.

 

    -8-

     

    

 

10. Duration of Agreement.
All agreements and obligations of Actelis contained herein shall continue during the period Indemnitee is an officer or director of Actelis
(or is or was serving at the request of Actelis as a manager, director, officer, employee or agent of another Enterprise) and shall continue
thereafter for so long as Indemnitee shall be subject to, or may be made subject to, any Proceeding (or any proceeding commenced under
Section 7 hereof) by reason of his Entity Status, whether or not she is acting or serving in any such capacity at the time any liability
or expense is incurred for which indemnification can be provided under this Agreement.

 

11.  Security.
To the extent requested by Indemnitee and approved by the Board, Actelis may at any time and from time to time provide security to Indemnitee
for Actelis’ obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral. Any such security,
once provided to Indemnitee, may not be revoked or released without the prior written consent of the Indemnitee.

 

12. Enforcement.

 

(a)  Actelis
expressly confirms and agrees that it has entered into this Agreement and assumes the obligations imposed on it hereby in order to induce
Indemnitee to serve as a director of Actelis, and Actelis acknowledges that Indemnitee is relying upon this Agreement in serving as a
director of Actelis.

 

(b)  This
Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior
agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof.

 

13. Definitions. For purposes of this
Agreement:

 

(a) “Affiliate”
has the meaning set forth in Rule 12b-2 of the regulations promulgated under the Securities and Exchange Act of 1934.

 

(b) “Entity
Status” describes the status of a person who is or was a manager, director, officer, employee, agent or fiduciary of Actelis
or of any other Enterprise that such person is or was serving at the express written request of Actelis.

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

 

(d) “Enterprise”
shall mean Actelis and any other limited liability company, corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise that Indemnitee is or was serving at the express written request of Actelis as a manager, director, officer, employee, agent
or fiduciary.

 

(e)
“Expenses” shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of
experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service
fees and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing
to prosecute or defend, investigating, participating, or being or preparing to be a witness in a Proceeding. Expenses also shall
include Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium,
security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent. Expenses,
however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

 

    -9-

     

    

 

(f) “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently
is, nor in the past five years has been, retained to represent: (i) Actelis or Indemnitee in any matter material to either such party
(other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification
agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing,
the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then
prevailing, would have a conflict of interest in representing either of Actelis or Indemnitee in an action to determine Indemnitee’s
rights under this Agreement. Actelis agrees to pay the reasonable fees of the Independent Counsel referred to above and to fully indemnify
such counsel against any and all Expenses and Liabilities arising out of or relating to this Agreement or its engagement pursuant hereto.

 

(g) “Liabilities”
means any and all judgments, damages, penalties, fines, interest or amounts paid in settlement.

 

(h) “Proceeding”
includes any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry,
administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of Actelis or otherwise
and whether civil, criminal, administrative or investigative, in which Indemnitee was, is or will be involved as a party or otherwise,
by reason of the fact that Indemnitee is or was an officer or director of Actelis, by reason of any action taken by him or of any inaction
on his part while acting as a director of Actelis, or by reason of the fact that she is or was serving at the request of Actelis as a
manager, director, officer, employee, agent or fiduciary of another Enterprise; in each case whether or not she is acting or serving in
any such capacity at the time any liability or expense is incurred for which indemnification can be provided under this Agreement; including
one pending on or before the date of this Agreement, but excluding one initiated by an Indemnitee pursuant to Section 7 of this Agreement
to enforce his rights under this Agreement.

 

14. Severability. The
invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision. Without
limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification rights to the fullest extent
permitted by applicable laws. In the event any provision hereof conflicts with any applicable law, such provision shall be deemed modified,
consistent with the aforementioned intent, to the extent necessary to resolve such conflict.

 

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

 

16. Notice by Indemnitee.
Indemnitee agrees promptly to notify Actelis in writing upon being served with or otherwise receiving any summons, citation, subpoena,
complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification covered
hereunder. The failure to so notify Actelis shall not relieve Actelis of any obligation which it may have to Indemnitee under this Agreement
or otherwise unless and only to the extent that such failure or delay materially prejudices Actelis.

 

    -10-

     

    

 

17. Notices. All notices
and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given: (a) upon
personal delivery to the party to be notified, (b) when sent by confirmed electronic mail if sent during normal business hours of the
recipient, and if not so confirmed, then on the next business day, (c) five (5) days after having been sent by registered or certified
mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying
next day delivery, with written verification of receipt. All communications shall be sent:

 

		(a)	To Indemnitee at the address set forth below Indemnitee’s
signature hereto.

 

		(b)	To Actelis at:
	 	 	Actelis Networks, Inc.
	 	 	47800 Westinghouse Drive
	 	 	Freemont,
CA 94539 

	 	 	Attn: CEO

 

or to such other address as may have been furnished
to Indemnitee by Actelis or to Actelis by Indemnitee, as the case may be.

 

18. Counterparts. This
Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same Agreement. This Agreement may also be executed and delivered by facsimile or other electronic signature and in two or
more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

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

 

20. Governing Law and Consent
to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance
with, the laws of the State of Delaware, without regard to its conflict of laws rules. Actelis and Indemnitee hereby irrevocably and unconditionally
agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Court of Chancery
of the State of Delaware.

 

21. Successors and Assignment.
This Agreement shall be binding upon and inure to the benefit of the parties named herein and their respective successors and permitted
assigns. No party may assign either this Agreement or any of its interest or obligations hereunder without the prior written approval
of the other party. Any purported assignment made in contravention of this Section 21 shall be null and void ab initio.

 

[Signature page follows.]

 

    -11-

     

    

 

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

 

	 	ACTELIS NETWORKS, INC.
	 	 	 
	 	By:	                    
	 	Name:	 
	 	Title:	 
	 	 	 
	 	INDEMNITEE
	 	 	 
	 	 
	 	Name:	 
	 	Address:	 
	 	 
	 	 
	 	E-mail: 	 

 

[Signature Page to Actelis Indemnification Agreement]

 

 

-12-

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