Document:

Exhibit 10.10

 

Execution Copy

 

 

EMPLOYMENT AGREEMENT

 

This
Employment Agreement (this "Agreement") is made and entered into on this 16 day of February,
2016, by and between Therapix Biosciences Ltd., a public company organized under the laws of the State of Israel (the
"Company") and Dr. Adi Zuloff-Shani, Israeli I.D No. 023823818, residing at Ramat Hasharon, Israel (the
"Employee". The Company and Employee shall be sometimes referred to each as a "Party" and
collectively as the "Parties").

 

	WHEREAS,	the Company desires to employ Employee on the terms and conditions set forth herein and Employee desires to be employed by the Company and enter into this Agreement on such terms and conditions;

 

NOW, THEREFORE, in consideration of
the mutual undertakings of the Parties, it is hereby agreed as follows:

 

	1.	duties and responsibilities

 

	1.1	Commencing as of February 1, 2016 (the "Effective Date"), Employee shall be employed by the Company as CTO (the "Position") and shall perform such duties and activities as are customarily performed by a CTO of a company and as shall be assigned to Employee from time to time by the Company's Chief Executive Officer (the "CEO"). 

 

	1.2	Employee shall report directly and only to the Company's CEO. Employee acknowledges and agrees that the Company may, from time to time, revise the terms and conditions of Employee's Position, provided, however, that such revision shall be made in accordance with Employee's skills and provided, further, that it shall not adversely affect Employee's employment terms or responsibilities with the Company.

 

	1.3	Employee shall devote her full working time and best efforts to the business and affairs of the Company and the performance of Employee's duties hereunder, and shall not undertake or accept any other employment or paid occupation.

 

The Company acknowledges
that the Employee has prior commitments to assist her former Employee, Macrocure Ltd., in relation with a law suit filed against
it in the U.S, as well as in the event of Macrocure Ltd. selling technology that was developed by the Employee. The Company will
have no objection to the Employee executing the said commitments to Macrocure Ltd., providing that (i) such activities do not and
may not diminish, conflict or otherwise adversely affect the performance of the Employee’s duties pursuant to this Agreement,
and (ii) Employee shall promptly notify the Company of any such matter or activity.

 

	1.4	Employee shall be employed at the Company's facilities as shall be decided by the Company's CEO. Employee acknowledges and agrees that the performance of Employee's duties may also require travel outside of Israel, at the Company's request and expense.

 

	1.5	Employee's liability towards the Company shall be that of an office holder under the Companies Law-1999 and any other applicable law.

 

	2.	TERM AND TERMINATION

 

	2.1.	This Agreement and the employer-employee relationship created hereunder shall enter into effect as of the Effective Date and shall remain in force and effect unless and until terminated as provided herein.

 

	2.2.	Either Party may terminate this Agreement by providing the other Party with a prior written notice. The notice period shall be thirty (30) days prior written notice, (the "Notice Period").

 

     

     

    

 

	2.3.	Notwithstanding anything to the contrary herein, the Company may terminate this Agreement and the employer-employee relationship hereunder at any time, and without derogating from any other remedy to which the Company may be entitled, for Cause (as hereinafter defined), by providing Employee written notice thereof. In such event, this Agreement and the employer-employee relationship hereunder shall be deemed effectively terminated as of the date of delivery of such notice.

 

The term "Cause"
shall mean,: (i) a breach by Employee of any of the material terms or conditions of this Agreement, including but not limited to
Sections 4 and 5 below; or (ii) Employee's willful misconduct, or action of personal dishonesty, bad faith or breach of trust towards
the Company or any of its subsidiaries and/or affiliates; or (iii) the commission by Employee of a criminal offense, or fraud against
the Company and/or any of its subsidiaries and/or affiliates; or (iv) circumstances that deny Employee to severance payment under
any applicable law and/or under any judicial decision of a competent tribunal authority.

 

	2.4.	During the Notice Period, Employee shall continue working and shall cooperate with the Company and use her best efforts to assist the integration of the person or persons who will assume Employee's responsibilities.

 

Notwithstanding, the
Company shall have the right, at any time during the Notice Period, to terminate the employment relationship immediately, in which
case the Company shall pay Employee the Salary due for the remaining period of the Notice Period, and the benefits set forth in
Sections 3.3 and 3.4 below.

 

	2.5.	Upon the earlier of (a) the date of termination of the Notice Period; and (b) the date of actual termination of employment for any reason other than for Cause (or in the event of termination for Cause then immediately upon termination of employment), Employee shall return to the Company, at its principal office, any and all Company equipment, property and documents in Employee's possession or control.

 

	2.6.	Any outstanding payment due by Employee to the Company in connection with Employee's employment shall be repaid by Employee by the earlier of (a) the date of termination of the Notice Period or (b) the date of actual termination of employment for any reason other than for Cause (or in the event of termination for Cause then immediately upon termination of employment). 

 

	2.7.	The provisions of Sections 3.3.4, 3.10 and 6.5 below and the provisions of the Undertaking (as defined below), will remain in full force and effect after termination or expiration of this Agreement.

 

	3.	Salary and benefits

 

In full consideration for Employee's
services hereunder, Employee shall be entitled to the following payments and benefits, effective as of the Effective Date:

 

	3.1	Salary

 

	 	3.1.1	The Employee shall be entitled to a gross monthly salary of NIS 25,200 (the "Base Salary"). In consideration for overtime hours the Employee shall receive a global payment of NIS 6,300 per month (the "Overtime Payment"), payable regardless of the amount of overtime hours actually performed. Employee specifically acknowledges the special nature of the Position, and agrees that her duties and responsibilities may entail irregular work hours and extensive traveling in Israel and abroad, for which she is adequately rewarded by the compensation provided for in this Agreement. The Base Salary and the Overtime Payment shall be referred to herein as the "Salary". The Overtime Payment is meant to compensate the Employee for working overtime and/or in off-days (including weekends and holidays). The Overtime Payment shall be regarded as part of the Salary for determining Employee's rights for severance pay, Manager's Insurance/Pension Fund and Education Fund.

 

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	 	3.1.2	The Salary may be adjusted from time to time according to government directives and other adjustments as may be required by applicable law.

 

	 	3.1.3	It is agreed between the Parties that the position that Employee holds within the Company is a management position, which demands a special level of loyalty, and accordingly, the Work Hours and Rest Law (1951) shall not apply to Employee's employment by the Company and this Agreement. Employee further acknowledges that the compensation payable hereunder includes benefits that would otherwise not be due to Employee pursuant to applicable law.

 

	 	3.1.4	The Salary shall be payable monthly in arrears, in accordance with the Company's usual practice, by the 9th day of the following calendar month.

 

	3.2	Evaluation of Performance; Annual Bonus

 

	 	3.2.1	Six months following the Effective Date the Company will evaluate the Employee's performance and discuss the Employee's Salary.

 

	 	3.2.2	At the end of every year of employment, the Company will evaluate the Employee's performance and discuss the Employee's Salary for the following year.

 

	 	3.2.3	At the end of every year of employment, the Company may consider paying the Employee a bonus, depending on her performance, the Company's performance, and subject to the recognition of the Board of the successful achievement of Company measureable objectives as shall be set forth in the Company's annual work plan determined by the Board.

 

	 	3.2.4	Nothing in this Section 3.2 shall be interpreted as an undertaking or an obligation by the Company to increase Employee's Salary, grant an annual bonus, amend any other terms and social benefits provided hereunder or an entitlement of the Employee to additional compensation hereunder, and any such decision, if resolved, shall be subject to the Company's sole discretion (and the obtainment of all corporate approvals, to the extent required), taking into account, inter alia, the financial resources of the Company and contemplated work plans. Employee shall not hold any demand, allegations or claims against the Company in connection with the above.

 

	3.3	Manager's Insurance; Pension Fund

 

	 	3.3.1	The Company shall insure Employee under an accepted Manager's Insurance Policy (the "Policy"), and shall pay an amount equal to (i) 8.33% of the Salary on account of severance pay payable to Employee upon severance in accordance with the provisions of this Agreement; and (ii) 5% or 6% (as required under applicable law and the General Approval referred to below) of the Salary towards pension fund payments, subject to the deduction of 5% of the Salary to be paid towards the Policy on behalf of Employee. In addition, the Company shall pay an amount equal to up to 2.5% of the Salary towards disability insurance in favor of Employee.

 

	 	3.3.2	Employee may extend an existing policy or plan and/or incorporate it into the Policy, at Employee's discretion. In the event the Employee elects to be insured under a pension plan, the allocations set forth in Section 3.2.1 above shall be adjusted in accordance with the pension plans policies', provided, however, that in any event payments by the Company shall not exceed the amounts set forth in Section 3.2.1 above. In addition, all contributions and amounts under this Section 3.2 shall not exceed tax exempt amounts pursuant to the Israeli Income Tax Ordinance and the regulations thereunder, whereupon such amounts shall be decreased accordingly.

 

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	 	3.3.3	During Employee's employment period with the Company, the Company shall be the sole owner of the Policy. Other than as set forth below, in the event of a termination of this Agreement, the Company shall transfer the title in and to the Policy to Employee.

 

	 	3.3.4        	The Company and Employee agree and acknowledge that
    transfer of ownership of the severance portion of the Policy
    to the Employee as set forth in Section 3.2.3 above shall be lieu and not in addition to any entitlement of the Employee
    under any applicable law or this Agreement to severance pay, according to the General Approval of the Minister of Labor and
    Welfare, regarding Employers' Payments to Pension Funds and Insurance Policies in Lieu of Severance Pay in Accordance with
    Section 14 of the Severance Pay Law 1963, attached hereto as Exhibit A (the "General
    Approval"). Accordingly, the Company hereby waives any rights to said payments made to the Policy, except as set
    forth in the General Approval.

 

	3.4	Education Fund (Keren Hishtalmut)

 

The Company shall pay
an amount equal to 7.5% of the Salary to an Education Fund (Keren Hishtalmut) designated by the Employee (the "Education
Fund"), and shall deduct from the Salary an amount equal to 2.5% of the Salary on behalf of Employee, and shall pay such
amounts to the Education Fund.

 

In the event that contributions
or amounts set forth hereinabove shall exceed tax exempt amounts pursuant to the Israeli Income Tax Ordinance and/or the regulations
promulgated thereunder, then the Employee shall bear any and all taxes imposed thereupon.

 

	3.5	Annual Recreation Allowance

 

Employee shall be entitled
to annual recreation allowance (Dmei Havra'a) according to applicable law.

 

	3.6	Vacation

 

Employee shall be entitled
to 20 paid vacation days (business days) per year (the "Vacation Days"). Each leave shall be coordinated with
the direct manager in advance, with adequate regard to the needs of the Company.

 

Accumulation 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 accruable by Employee pursuant to the
Vacation Law from time to time, shall not be accumulated by Employee.

 

Subject to applicable law,
accrued vacation days shall not be redeemable by Employee until and subject
to termination of employment.

 

	3.7	Sick Leave

 

Employee shall be entitled
to paid sick leave pursuant to applicable law. Payments by the Company of sick leave days in connection with disability payments
shall be set-off against payments received by Employee pursuant to Section 3.2 above.

 

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	3.8	Options.

 

	 	3.8.1	Subject to and following (i) the sole discretion and approval of the Board and any applicable Company organs, law or regulation, if and to the extent required (ii) the Company's Compensation Policy then in effect, or as otherwise determined by the Company and approved by the Company's relevant organs, and (iii) the execution by Employee of a customary option agreement in a form approved by the Board, Employee shall be granted with an option to purchase up to 500,000 Ordinary Shares of the Company, par value NIS 0.01 each, under the Plan (the "Shares" and collectively, the “Option”) constituting approximately 1.5% of the Company's issued share capital on an issued basis. The Option shall be issued pursuant to and in accordance with the capital gains route under Section 102B of the Israeli Tax Ordinance, shall be subject to the provisions of the Plan, and shall vest over a 3 year period, on a quarterly basis. The exercise price of the Option shall be in accordance with the provisions of Company's Compensation Policy applicable to such determination of exercise price.

 

	 	3.8.2	The grant of the Option shall be subject to the obtainment by the Company of all (i) applicable corporate approvals, including, without limitation, approvals by the Board and the shareholders of the Company; and (ii) completion of appropriate filings with and obtainment of the required approvals of the Israeli Securities Authority, the Tel Aviv Stock Exchange and the OTCQB, to the extent required.

 

	 	3.8.3	In case a regulatory approval (if indeed shall be required) is not obtained, for reasons beyond the Company’s control, this shall not be considered to be a breach by the Company of this agreement, Employee shall not hold any demand, allegations or claims against the Company in connection with the Company's failure to obtain such regulatory approval.

 

	 	3.8.4	Nothing herein shall be construed as an obligation to grant any options to the Employee.

 

	3.9	Mobile Phone

 

Employee shall be entitled
to NIS 200 (net) for each month for expenses related to mobile phone usage, plus any reasonable phone expenses incurred by the
Employee while abroad on Company business.

 

	3.10	Car Expenses

 

The Company shall reimburse
Employee for (i) travel expenses, in the amounts prescribed by applicable law, and (ii) petrol incurred in connection with the
fulfillment of her duties hereunder, in the amount of up to NIS 1,000 (net) per month. Reimbursement shall be made upon payment
of the Salary and against the submission of applicable receipts by Employee to the Company.

 

	3.11	Any and all benefit, right or payment to which Employee is entitled pursuant to this Agreement shall be calculated based on the Salary only, excluding any additional compensation, payment or reimbursement payable to Employee hereunder.

 

	3.12	Employee will bear any and all taxes applicable to Employee in connection with amounts paid by Employee and/or the Company pursuant to this Section 3. The Company shall legally deduct and withhold income tax payments and other obligatory payments, such as social security and mandatory health insurance, from all of the payments which shall be paid to Employee hereunder and pursuant to applicable law, including all taxes imposed on any benefits granted to Employee and on any part of the benefits which exceeds maximum exemption(s) provided by law.

 

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	4.	CONFIDENTIALITY, proprietary RIGHTS AND NON-COMPETITION

 

Upon
execution hereof, Employee shall execute and deliver the Confidentiality, Proprietary Rights and Non-Competition Undertaking attached
hereto as Exhibit B (the "Undertaking").

  

	5.	Employee
    Representations and Warranties

 

Employee
hereby represents and warrants to the Company as follows:

 

	5.1.	Employee has the necessary skills, knowledge, ability, expertise and experience to fulfill her obligations hereunder, shall do so diligently, professionally and conscientiously and shall comply with the regulations and procedures of the Company. 

 

	5.2.	The execution and delivery of this Agreement and the fulfillment of the terms hereof will constitute the valid, binding and enforceable obligations of Employee and will not violate, conflict with or constitute a default under or breach of any agreement and/or undertaking and/or instrument, judgment or order to which the Employee is a party or by which he is bound, or any provision of law, rule or regulation applicable to the Employee, and do not require the consent of any person or entity. In the performance of Employee's obligations hereunder, Employee will not make use of (i) any confidential or proprietary information belonging to any third party, or (ii) any information to which Employee is restricted from disclosing or using due to contractual undertakings or by law. 

 

	5.3.	Employee will not accept, whether during the term of this Agreement or at any time thereafter, directly or indirectly, any payment, benefit and/or other consideration, from any third party in connection with Employee's employment with the Company, without the Company's prior written authorization. 

 

The company hereby authorizes
that the Employee will act as a paid advisor to Macrocure Ltd. as described in Section 1.3 above and subject to the extent and
limitations provided thereunder.

 

	5.4.	The Employee undertakes to use the Company's equipment and facilities only for the purpose of the provision of the services. The Employee acknowledges and agrees that the Company is entitled to conduct inspections within the Company's offices and on the Company's computers, including inspections of electronic mail transmissions, Internet usage and inspections of their content, for the Company's relevant needs. For the avoidance of any doubt, it is hereby clarified that all examination's finding shall be the Company's sole property. It is further agreed that the e-mail box which the Company shall provide to the Contractor shall be "professional box", shall be used by the Employee solely for the provision of the services and shall not be used for personal purposes. The Employee acknowledges that the Company may inspect such e-mail box and agrees that such inspection shall not be deemed a violation of the Employee's privacy and/or other rights.

 

	6.	Compensation
    Policy

 

	6.1.	Employee declares and confirms, that he is familiar and aware that the Company has adopted a compensation policy pursuant to the provisions of the Companies Law 5759-1999 (the "Compensation Policy", and the "Law", respectively), and that the terms of this Agreement are subject to and shall be aligned with the provisions and guidelines of the Compensation Policy in force, unless otherwise determined from time to time by the Company and approved by the Company's relevant organs. 

 

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	6.2.	In the event that this Agreement and/or any of its provisions shall be proclaimed and/or considered by a competent authority not aligned with the Compensation Policy and not in accordance with the provision of the Law ("Conflicting Provision"), then the parties shall cooperate to adjust any Conflicting Provision with the Compensation Policy or to approve such Conflicting Provisions by the Company's relevant organs, in accordance with applicable law and regulations.

 

	6.3.	Without derogating from the Employee’s rights under this Agreement, in the event that the abovementioned adjustment is not possible, the Employee shall not have any demand, allegations or claims against the Company.

 

	6.4.	Without derogating from the provisions of the Compensation Policy, to the extent that any amount or fees paid to the Employee hereunder other than the Employee's Salary, shall be revealed, within three (3) years of the payment thereof, to have been paid based on erroneous calculations that have been restated in the Company's financial statements, the Employee shall repay the Company amount paid in excess as aforesaid; all in accordance with the provisions of the Compensation Policy. 

 

	7.	Securities
    Internal Compliance Plan; Insider Trading Policy

 

Employee
declares and confirms, that he is familiar and aware that the Company has adopted a Securities Internal Compliance Plan (the "Internal
Compliance Plan"), and is familiar with its terms, obligations and restrictions, and shall act in accordance with the
provisions and guidelines of the Internal Compliance Plan in force, and as shall be determined from time to time.

  

	8.	Miscellaneous

 

	8.1.	Preamble; Exhibits; Headings; Interpretation. The preamble to this Agreement, and the Exhibits attached hereto, constitute an integral part hereof. Section headings contained herein are for reference and convenience purposes only and shall not in any way be used for the interpretation of this Agreement.

 

	8.2.	The Company shall insure Employee under the Company's officers’ insurance policy, in accordance with its terms.

 

	8.3.	This Agreement shall not invoke the provisions of any collective bargaining agreement (Heskem Kibutsi), collective arrangement (Hesder Kibutzi), extension orders (Tzavei Harhava) or any other law, except and only to the extent so mandated by law.

 

	8.4.	Entire Agreement. The Parties confirm that this is a personal services contract and that the relationship between them shall not be subject to any general or special collective employment agreement or any custom or practice of the Company in respect of any of its other employees or contractors. This Agreement, together with the Exhibits hereto, constitute the entire agreement between the parties with respect to the subject matters hereof and thereof and supersede all prior agreements, understandings and arrangements, oral or written, between the parties with respect to the subject matters hereof and thereof.

 

	8.5.	Amendment; Waiver. Any term of this Agreement may be amended only with the written consent of the Parties. The observance of any term hereof may be waived (either prospectively or retroactively and either generally or in a particular instance) only with the written consent of the Party against which such waiver is sought. No waiver by either Party at any time to act with respect to any breach or default by the other Party 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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	8.6.	Successors and Assign; Assignment. This Agreement shall be binding upon and shall inure to the benefit of the Company, its successors and assigns. Neither this Agreement or any of the Employee's rights, privileges, or obligations set forth in, arising under, or created by this Agreement may be assigned or transferred by Employee without the prior consent in writing of the Company, except by will or by the laws of descent and distribution. The Company may freely assign and/or transfer this Agreement and any of its rights, privileges, or obligations hereunder.

 

	8.7.	Governing Law; Jurisdiction. 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. Any dispute arising out of, or relating to this Agreement, its interpretation or performance hereunder shall be resolved exclusively by the competent court of the Tel Aviv-Jaffa district, and each of the parties hereby submits exclusively and irrevocably to the jurisdiction of such court.

 

	8.8.	Severability. If any term or provision of this Agreement shall be declared invalid, illegal or unenforceable, then such term or provision shall be enforceable to the extent that a court shall deem it reasonable to enforce such term or provision and, if any such term or provision shall be held by any competent court to be unreasonable to enforce to any extent, such term or provision shall be severed and all remaining terms and provisions shall be unaffected and shall continue in full force and effect.

 

	8.9.	Notices. Each notice and/or demand given by a party pursuant to this Agreement shall be in writing and sent by registered mail to the other party at the address appearing in the caption of this Agreement, and such notice and/or demand shall be deemed given at the expiration of seven (7) days from the date of mailing by registered mail or immediately if delivered by hand. Such address shall be effective unless notice of a change in address is provided by registered mail to the other party.

 

	8.10.	The execution, delivery and performance of this Agreement is subject to the obtainment of all applicable corporate and regulatory approvals, if and to the extent necessary.

 

 

[The
remainder of this page was intentionally left blank]

 

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[Signature Page to Employment Agreement]

 

IN WITNESS WHEREOF, the parties have
executed this Employment Agreement as of the day and year first above written:

 

	 /s/
Ascher Shmulewitz	 	/s/ Elran Haber	 	 /s/
    Dr. Adi Zuloff-Shani
	Therapix
                    Biosciences Ltd.

	 	 	 	Dr.
                                         Adi Zuloff-Shani

	 	 	 	 	 	 
	By:	
Ascher Shmulewitz 	 	 Elran Haber	 	   	 
	 	 	 	 	 	 	 
	Title:	Chairman	 	CEO	 	   	 

   

     

     

    

 

Exhibit
A

 

(unofficial
translation from Hebrew original)

 

A
General Approval regarding Employers' Payments to a Pension Fund and Insurance Fund in lieu of Severance Pay1

 

Pursuant
to the authority vested in me under Section 14 of the Severance Pay Law - 1963 (the "Law"), I hereby confirm that the
payments paid by an employer effective with publication date of publication of this approval for his employees to a comprehensive
pension in a provident fund that is not an insurance fund within the meaning of the Income Tax Regulations (rules on the approval
and management of provident funds) - 1964 (the "Pension Fund"), or to managers' insurance including the possibility
of an annuity or a combination of payments to annuity plan and to a plan that is not for a pension in such insurance fund (the
"Insurance Fund"), including payments paid through a combination of payments to a pension and Insurance Funds, whether
or not there is a pension plan in the Insurance Fund (the "Employer Payments"), will be in lieu of the severance pay
due to the employee in respect of the salary from which said payments were made and for the period payments were made (the “Exempt
Wage”) provided that all of the following were met:

 

		1.	Employer
                                         Payments

 

		a.	To
                                         a pension fund, payments that are not less than 14 1/3% of the Exempt Wage or 12% of
                                         the Exempt Wage if the employer pays for his employee payments in addition to supplement
                                         severance pay to the severance pay fund or to insurance fund in the name of employee
                                         at a rate of 2 1/3% of the Exempt Wage. If the employer does not pay in addition to 12%
                                         the 2 1/3% as above, the payments will be in lieu of only 72% of the employee's severance
                                         pay;

 

		b.	To
                                         an insurance fund, payments that are not less than one of the following:

 

		1)	13
                                         1/3% of the Exempt Wage if the employer pays for his employee also payments to secure
                                         monthly income in the event of work disability in a plan approved by the commissioner
                                         of capital market and insurance and savings in the Ministry of Finance at a rate required
                                         to secure at least 75% of the Exempt Wage or 2.5% of the Exempt Wage, whichever is lower
                                         ("Payment for Work Disability Insurance");

 

		2)	11%
                                         of the Exempt Wage if the employer paid insurance payments for work disability insurance
                                         and in this case the Employer Payments will be in lieu of 72% of the severance pay of
                                         the employee provided that; the employer paid in addition to these payments also payments
                                         for supplementing the severance pay severance to severance pay fund or to an insurance
                                         fund in the name of the employee at the rate of 2 1/3% of the Exempt Wage, the Employer
                                         Payments will be in lieu of 100% of the employee's severance pay.

 

		2.	Not
                                         later than three months after making the Employer Payments, a written agreement entered
                                         into between the employer and the employee containing the following –

 

		a)	the
                                         employee's consent to the arrangement according to this approval under the version specifying
                                         the payments of the employer and the pension fund and insurance fund, as the case may
                                         be; the agreement also shall include the version of this approval;

 

	 	b) 	a waiver of the employer
in advance of any right it
may have for a refund of monies from
his payments unless the employee's right to
severance pay was denied in a ruling under
section 17 of the Law and to the extent such right was
denied, or in the event that the employee withdrew money from
the pension fund or the insurance fund not due
to a qualifying event; In this regard, "qualifying
event" - death, disability, or
retirement at age of sixty or
more.

 

		3.	This
                                         approval does not derogate from the employee's severance pay right under the Law, collective
                                         agreement, expansion order or labor agreement in respect of wages in excess of the Exempt
                                         Wage.

 

 

1
Law published 5758, 4394; 5760, 5; 5761, 1949.

 

     

     

    

 

EXHIBIT B

 

CONFIDENTIALITY, proprietary
RIGHTS AND NON-COMPETITION UNDERTAKING

 

The following Undertaking confirms certain
terms of my employment with Therapix Biosciences Ltd. (for the purpose of this Undertaking, including its subsidiaries,
parent companies and/or affiliated entities, the "Company"), which is a material part of the consideration for
my employment by the Company and the compensation received by me from the Company from time to time. Capitalized terms not defined
herein shall have the meaning ascribed to them in the Employment Agreement to which this Undertaking is attached (the "Employment
Agreement").

  

	1.	Confidentiality
    

 

	1.1.	I acknowledge that in the course of my employment with the Company I may (or may have) receive(d), learn(ed), be(en) exposed to, obtain(ed), or have (had) access to non-public information relating to the Company, its business, operations and activities, including without limitation any commercial, financial, business or technical information, inventions, developments, processes, specifications, technology, know-how and trade secrets, information regarding marketing, operations, plans, activities, customers, suppliers, business partners, subsidiaries, parent companies, affiliated entities etc. ("Confidential Information"), and hereby undertake: (a) to maintain the Confidential Information in strict confidence at all times and not to communicate, publish, reveal, describe, allow access to, divulge or otherwise disclose, expose or make available the Confidential Information in whole or in part, to any person or entity, all whether directly or indirectly, and whether in writing or otherwise; and (b) not to use the Confidential Information for any purpose other than for the performance of my employment obligations. I further recognize that the Company may receive confidential or proprietary information from third parties, subject to a duty on the Company's part to maintain the confidentiality of such information and to use it only for certain limited purposes. Such information shall also be deemed "Confidential Information" hereunder, mutatis mutandis. 

 

	2.2.	In addition, I represent and warrant that I will keep the terms and conditions of the Employment Agreement and this Undertaking strictly confidential and will not disclose it to any third person, other than my husband (provided he shall abide and comply with the terms of this Undertaking and that any breach by him of this Undertaking shall be deemed a breach by me), attorneys, accountants and tax advisors unless and to the extent required by applicable law and subject to prior written notice to the Company.

 

	3.3.	Upon the earlier of the Company's request or the termination of my employment, I shall return to the Company any and all documents and other tangible materials containing Confidential Information, and shall erase or destroy any computer or data files in my possession containing Confidential Information, such that no copies or samples of Confidential Information shall remain with me.

 

	4.4.	Without derogating from the above, all Confidential Information made available to, received by, or generated by me shall remain the property of the Company (or its respective owners), and no license or other right in or to the Confidential Information is granted hereby. Any and all material (including without limitation, files, records, documents, design, drawings, specifications, equipment, notebooks, notes, memoranda, diagrams, blueprints, bulletins, formula, reports, analyses, computer programs, software) and data of any kind relating to Confidential Information and/or Proprietary Rights (as defined below), whether prepared by the undersigned or otherwise coming or having come into my possession, and whether or not marked or classified as Confidential Information, shall remain the exclusive property of the Company (or its respective owners).

 

    Ex B-1

     

    

 

	2.	Proprietary
    Rights

 

	2.1.	I acknowledge and agree that any and all discoveries, inventions, ideas, developments, technology, products, improvements, derivations, modifications, mask works, trade secrets, concepts, ideas, techniques, methods, processes materials, proceeds, know-how, designs, works of authorship, and proprietary information, whether or not patentable or otherwise protectable, invented, made, developed, discovered, conceived, conducted, reduced to practice, written, authored, compiled, produced and/or created, in whole or in part, by me, independently or jointly with others, (i) during my employment with the Company; or (ii) which result or arise from or relate to my employment with the Company, or work performed by or for the Company, or any Confidential Information; or (iii) with the use of any Company equipment, supplies, facilities, trade secrets or proprietary information of the Company; or (iv) which relate to the Company's business, technology or research and development, including any "Service Inventions", as defined in the Israeli Patent Law – 1967, (collectively, the "Inventions"), and any and all right, title and interest in and to the Inventions, including without limitation, all patents, copyrights, trademarks, trade names, moral rights and other intellectual, industrial and/or proprietary rights and applications, extensions and renewals associated therewith (collectively and together with the Inventions, the "Proprietary Rights"), shall be the sole and exclusive property of the Company its successors and assigns, as shall be designated by the Company. My aggregate compensation terms in connection with my employment with the Company, include specific compensation for the assignment of such Proprietary Rights to the Company and I shall have no title, rights, claims or interest whatsoever in or with respect to the Proprietary Rights and specifically waive any right for additional compensation pursuant to Section 134 of the Israeli Patent Law - 1967. All works authored by me pursuant to the Employment Agreement, including without limitation the Inventions, shall be deemed "work made for hire".

 

	2.2.	I hereby irrevocably and unconditionally transfer and assign to the Company any and all of my rights, title and interest, now and hereafter acquired, in and to the Proprietary Rights, (without any payments, liabilities or restrictions to any person or third party) in any and all media now known or hereafter devised, and all claims and causes of action of any kind with respect to any of the foregoing, throughout the world in perpetuity.

 

In the event that pursuant
to any applicable law I retain any rights in and to the Proprietary Rights that cannot be assigned to the Company, I hereby unconditionally
and irrevocably waive the enforcement of all such rights, and all claims and causes of action of any kind with respect to any of
the foregoing and agree, at the request and expense of the Company, to consent to and join in any action to enforce such rights
and to procure a waiver of such rights from the holders of such rights, if any.

 

In the event that I retain
any rights in and to Proprietary Rights that cannot be assigned to the Company and cannot be waived, I hereby grant the Company
an irrevocable, exclusive, perpetual, worldwide, royalty-free license to exploit, use, develop, perform, modify, change, reproduce,
publish and distribute, with the right to sublicense and assign such rights, and all claims and causes of action of any kind with
respect to any of the foregoing, in and to the Proprietary Rights, in any way the Company sees fit and for any purpose whatsoever.
Without derogating from the above, I hereby forever waive and agree never to assert any and all rights of paternity or integrity,
any right to claim authorship of any Invention, to object to any distortion, mutilation or other modification of, or other derogatory
action in relation to any Invention, and any similar right.

 

    Ex B-2

     

    

 

	2.3.	I will promptly disclose to the Company fully and in writing all Inventions but will otherwise keep the Inventions in strict confidence in accordance with the provisions of Section 1 above.

 

	2.4.	I further agree and undertake to take all necessary measures and to fully cooperate with the Company, during and after the term of my employment, in order to perfect, enforce, and/or defend the Proprietary Rights, and effectuate the Company's title and interest therein, including without limitation as follows: (i) to keep accurate records relating to the conception and reduction to practice of all Proprietary Rights, which records shall be the sole and exclusive property of the Company and shall be surrendered to the possession of the Company, immediately upon their creation; and (ii) to provide the Company with all information, documentation, and assistance, including the preparation or execution, as applicable, of documents, declarations, assignments, drawings and other data, all such information, documentation, and assistance to be provided at no additional expense to the Company, except for out-of-pocket expenses incurred by me at the Company's request or with the Company's prior written consent. Without derogating from any of my obligations hereunder, I hereby appoint any officer of the Company as my duly authorized agent to execute, file, prosecute and protect the same before any government agency, court or authority.

 

	3.	Non-Competition;
    NON-SOLICITATION

 

	3.1.	I agree and declare that, so long as I am employed by the Company and for a period of twelve (12) months thereafter, I will not, directly or indirectly, (i) engage in, participate, assist or become financially interested in, any business venture worldwide that is engaged in any activity competing with or similar to the business or technology of the Company as currently conducted and as proposed to be conducted from time to time; (ii) employ or otherwise engage, recruit or otherwise solicit, induce or influence any person to leave the employment or service of the Company; and (iii) solicit or encourage any customer, supplier or service provider to terminate or modify adversely its business relationship with the Company or otherwise intervene in any relationship between the Company and any of its employees, contractors, suppliers or consultants.

 

	3.2.	I expressly acknowledge that the business objectives and targeted operating market of the Company are worldwide, and consequently the obligations prescribed in this Section 3 shall apply on a worldwide basis.

 

For the purposes of this
Section 3, "directly or indirectly" includes doing business as an owner, partner, joint venturer, an independent
contractor, shareholder, director, officer, manager, broker, agent, employee, service provider or advisor, licensor or in any other
capacity whatsoever, but does not include holding up to 1% of the free market shares of any publicly traded companies.

 

	3.3.	I hereby acknowledge that the provisions of this Section 3 are reasonable to legitimately protect Confidential Information, Proprietary Rights and Company property (including intellectual property and goodwill) to which I, in my position in the Company, have been and will continue to be exposed, and that my compensation under the Employment Agreement incorporates special consideration with respect for these non-competition undertaking.

 

    Ex B-3

     

    

 

	4.	GENERAL

 

	4.1.	The undersigned understands and agrees that monetary damages would not constitute a sufficient remedy for any breach or default of the obligations contained in this Undertaking, and that the Company shall be entitled, without derogating from any other remedies, to seek injunctive or other equitable relief to remedy or forestall any such breach or default or threatened breach.

 

	4.2.	The
    provisions of the Employment Agreement relating to term and termination and the general provisions thereof shall apply to
    this Undertaking, mutatis mutandis.

  

In
witness whereof, I hereby affix my name and signature, on this 16 day of February, 2016.

 

	/s/ Dr. Adi Zuloff-Shani	 
	Name: Dr. Adi Zuloff-Shani	 

 

 

Ex B-4Exhibit 10.11

 

Consulting
and Services Agreement

 

This
agreement (the “Agreement”) is entered into as of this  16 day of February 2016 (the "Effective
Date") between Therapix Biosciences Ltd. with principal offices at 5 Azrieli Center, 27th floor, Tel-Aviv 67025,
Israel and its subsidiaries (the "Company") and Dr. Ascher Shmulewitz, of __________ (“Dr.
Shmulewitz”).

 

		Whereas	the
                                         Company is a public company whose securities are traded on the Tel-Aviv Stock Exchange;
                                         and

 

		Whereas	the
                                         Company wishes to retain services from Dr. Shmulewitz and Dr. Shmulewitz wishes to render
                                         such services to the Company, as further set forth herein; and

 

		Whereas	Dr.
                                         Shmulewitz represents that it has the required knowledge, ability, talent and experience
                                         to provide services to the Company, all as detailed and pursuant to the terms set forth
                                         herein.

 

Now,
therefore, the parties have agreed as follows:

 

	1.	Services

 

		1.1	Commencing
                                         as of  3/24/2014 (the “Effective Date”), Dr. Shmulewitz shall be engaged
                                         with the Company as a Chairman of the Board of Directors (the “Position”
                                         and "the Board", respectively) and shall perform such duties and activities
                                         as are customarily performed by a Chairman of the Board of Directors of a company (the
                                         "Services"). 

 

		1.2	Dr.
                                         Shmulewitz shall report directly to the Company's Board.

 

		1.3	The
                                         scope of the Services shall be determined by the Company's Board from time to time, according
                                         to the Company’s needs.

 

		1.4	Dr.
                                         Shmulewitz shall immediately notify the Company's Board regarding any matter it has and/or
                                         may have a personal interest in which may affect the rendering of the Services.

 

		1.5	Dr.
                                         Shmulewitz shall perform the Services diligently and promptly for the sole benefit of
                                         the Company. Dr. Shmulewitz shall competently perform all assigned duties, carry out
                                         the policies, directives and decisions of the Board, as required, not withhold information
                                         from the Company and refrain from any conduct which is illegal, dishonest, fraudulent
                                         or detrimental to the Company's business.

 

		1.6	Dr.
                                         Shmulewitz shall devote his attention, know-how, energy, talent, experience and best
                                         efforts to the performance of the Services under this Agreement and the business and
                                         affairs of the Company. Dr. Shmulewitz shall be engaged in the Position on a part-time
                                         basis, such that Dr. Shmulewitz shall devote 60% (sixty percent) of his working time
                                         to the business and affairs of the Company and the performance of his duties and obligations
                                         hereunder.

 

	2.	Representations and Warranties

 

		2.1	Dr.
                                         Shmulewitz hereby represents, warrants and covenants to the Company, and acknowledges
                                         that the Company is entering into this Agreement in reliance thereon, as follows:

 

		2.2	Dr.
                                         Shmulewitz has the necessary skills, knowledge and experience to fulfill Dr. Shmulewitz's
                                         obligations hereunder, shall do so diligently, professionally and conscientiously and
                                         shall use his best efforts in the performance thereof.

 

    	 		 

     

    

 

		2.3	The
                                         execution and delivery of this Agreement and the fulfillment of the terms hereof will
                                         constitute the valid, binding and enforceable obligations of Dr. Shmulewitz and will
                                         not violate, conflict with or constitute a default under or breach of any agreement and/or
                                         undertaking and/or instrument, judgment, order, writ or decree to which Dr. Shmulewitz
                                         is a party or by which he is bound, or any provision of law, rule or regulation applicable
                                         to Dr. Shmulewitz, including without limitation, any confidentiality or non competition
                                         agreement, and do not require the consent of any person or entity. In the performance
                                         of Dr. Shmulewitz's obligations hereunder, Dr. Shmulewitz will not make use of (i) any
                                         confidential or proprietary information belonging to any third party, or (ii) any information
                                         which Dr. Shmulewitz is restricted from disclosing or using due to contractual undertakings
                                         or by law. Dr. Shmulewitz hereby represents and warrants that he has obtained all approvals
                                         necessary by third parties with respect to his the execution, delivery and performance
                                         of this Agreement.

 

		2.4	In
                                         the performance of Dr. Shmulewitz's duties hereunder, Dr. Shmulewitz shall comply with
                                         all applicable laws and regulations, including, inter alia, the Company Internal Compliance
                                         Plan (as defined below).

 

		2.5	Dr.
                                         Shmulewitz's will refrain from engaging in any business or other activity which may be
                                         of conflict of interest with Dr. Shmulewitz's duties and obligations hereunder, and shall
                                         promptly notify the Company of any such matter or activity.

 

	3.	Term

 

		3.1	This
                                         Agreement shall commence on the date hereof and shall remain in full force and effect
                                         (the “Term”) unless terminated, for any reason, with a ninety (90)
                                         days prior written notice (the "Notice Period") by one party to the
                                         other.

 

		3.2	During
                                         the Notice Period Dr. Shmulewitz shall continue providing the Services and be entitled
                                         to the Monthly Fee (as defined below). Nevertheless, the Company may, under its sole
                                         discretion, waive retaining the Services during the Notice Period, in whole or in part,
                                         subject to paying Dr. Shmulewitz the Monthly Fee, had it continued providing the Services
                                         until the end of the Notice Period.

 

		3.3	Notwithstanding
                                         anything to the contrary herein, the Company may terminate this Agreement at any time,
                                         and without derogating from any other remedy to which the Company may be entitled, for
                                         Cause (as hereinafter defined), by providing Dr. Shmulewitz written notice thereof. In
                                         such event, this Agreement shall be deemed effectively terminated as of the date of delivery
                                         of such notice.
	 	 	 
	 	 	The
term “Cause” shall mean, but shall not be limited to: (i) a breach by Dr. Shmulewitz of any of the material
terms or conditions of this Agreement, including but not limited to Sections 6 and 7 below; or (ii) Dr. Shmulewitz's willful misconduct,
or action of personal dishonesty, bad faith or breach of trust towards the Company or any of its subsidiaries and/or affiliates;
or (iii) the commission by Dr. Shmulewitz of a criminal offense, or fraud against the Company and/or any of its subsidiaries and/or
affiliates; or (iv) a violation by Dr. Shmulewitz of its fiduciary duties towards the Company.

 

		3.4	Upon
                                         any the termination of this Agreement and subject to paying the applicable Monthly Fee
                                         and final account to Dr. Shmulewitz, Dr. Shmulewitz shall immediately provide the Company
                                         all written, electronic and other records of Company in its possession, in a form reasonably
                                         requested by Company. During the Notice Period, Dr. Shmulewitz shall provide all necessary
                                         consultations, hand-off and instructions services to any replacement of Dr. Shmulewitz
                                         hired by Company.

 

	4.	Consideration

 

		4.1	As
                                         full and complete consideration for the Services, the Company shall pay to Dr. Shmulewitz
                                         monthly fees for the Services in an amount of NIS 50,000 plus VAT for each month
                                         (the “Monthly Fee”).

 

		4.2	The
                                         Monthly Fee will be paid at within 10 days of the end of each calendar month as a wire
                                         transfer, against a proper tax invoice of Dr. Shmulewitz.

 

    	 	2	 

     

    

 

		4.3	Company
                                         shall reimburse Dr. Shmulewitz for all out-off pocket expenses reasonably required in
                                         the performance of the Services by Dr. Shmulewitz under this Agreement and approved in
                                         advance by the Company. Reimbursement shall be made against delivery by Dr. Shmulewitz
                                         to the Company of tax receipts or other appropriate supporting documentation satisfactory
                                         to the Company.

 

		4.4	Option.
                                         

 

		4.5.1.	Subject
                                         to (i) the sole discretion and approval of the Company's Board of Directors (the "Board"),
                                         the shareholders of the Company and any applicable Company organs, law or regulation,
                                         to the extent applicable (ii) the Company's Compensation Policy then in effect, and (iii)
                                         the execution by Dr. Shmulewitz of a standard option agreement in a form approved by
                                         the Board under the Employee Share Option Plan (the "Plan"), Dr. Shmulewitz
                                         shall be granted with an option to purchase up to 250,000 Ordinary Shares of the Company,
                                         par value NIS 0.01, each under the Plan (the “Option”). The Option
                                         be subject to the provisions of the Plan and shall vest over a 3 year period, on a quarterly
                                         basis.

 

Subject
to the obtainment of all regulatory and corporate approvals, the exercise price of the Option shall be in accordance with the
provisions of Company's Compensation applicable to such determination of exercise price.

 

		4.5.2.	The
                                         grant of the Option shall be subject to the obtainment by the Company of all (i) applicable
                                         corporate approvals, including, without limitation, approvals by the Board and the shareholders
                                         of the Company; and (ii) completion of appropriate filings with and obtainment of the
                                         required approvals of the Israeli Securities Authority and/or the Tel Aviv Stock Exchange
                                         (and the OTCQB, if required).

 

		4.5.3.	In
                                         case a regulatory approval (if indeed shall be required) is not obtained, for reasons
                                         beyond the Company’s control, this shall not be considered to be a breach by the
                                         Company of this agreement, Dr. Shmulewitz shall not hold any demand, allegations or claims
                                         against the Company in connection with the Company's failure to obtain such regulatory
                                         approval.

 

		4.5.4.	Nothing
                                         herein shall be construed as an obligation to grant any options to Dr. Shmulewitz.

 

		4.5	Annual
                                         Bonus. At the end of each calendar year, the Company, at its sole discretion, may
                                         consider granting Dr. Shmulewitz a bonus, of up to six Monthly Fees, subject to the recognition
                                         of the Board of the successful achievement of Company measureable objectives as shall
                                         be set forth in the Company's annual work plan determined by the Board.

 

		4.6	Dr.
                                         Shmulewitz shall be solely responsible and shall make all compulsory payments in connection
                                         with the Services provided hereunder. Said payments shall include, without limitation,
                                         income tax, National Insurance, severance, and any and all other payments to any governmental
                                         or other relevant authority in connection with the Services.

 

		4.7	Dr.
                                         Shmulewitz shall be solely responsible for any tax and other payments required by law
                                         in connection with this Agreement and the payment or remittance of any portion of the
                                         Consulting Fee hereunder, provided, however, that the Company may withhold any amounts
                                         as required by applicable law from any payments or other forms of compensation hereunder
                                         or in connection with this Agreement.

 

		4.8	Dr.
                                         Shmulewitz shall not be entitled to receive any other compensation or payment from the
                                         Company other than as expressly stated in this section 4.

 

    	 	3	 

     

    

 

	5.	Insurance; Indemnification and Exemption

 

		5.1	The
                                         Company shall insure Dr. Shmulewitz under the Company's officers’ insurance policy,
                                         in accordance with its terms.

 

		5.2	Subject
                                         to the obtainment of all corporate and regulatory approvals, to the extent required,
                                         Dr. Shmulewitz shall be entitled to exemption and indemnification in connection with
                                         the performance of the Services hereunder, in accordance with the Exemption and Indemnification
                                         Letters in the forms previously approved by the Board.

 

	6.	Proprietary Rights 

 

		6.1	Dr.
                                         Shmulewitz agrees and declares that any and all products, improvements, derivations,
                                         materials, processes, techniques, know-how and/or proceeds and any and all inventions,
                                         ideas, discoveries, concepts, works of authorship, designs, data results or initiatives
                                         conceived, conducted, developed, reduced to practice, compiled, created, written, authored,
                                         made and/or produced by Dr. Shmulewitz, alone or jointly with others, pursuant to, in
                                         connection with, resulting or arising from this Agreement and/or the provision of the
                                         Services to the Company, or trade secrets of the Company, whether within the scope of
                                         the provision of the Services hereunder to the Company or otherwise and whether during
                                         the Term of this Agreement, prior thereto or thereafter, directly or indirectly related
                                         to the technology of the Company as currently conducted and/or proposed to be conducted
                                         solely in the field of immunomodulators including cannabinoids to treat chronic pain
                                         and inflammation (the "Inventions") and any and all right, title and
                                         interest in and to the Inventions, including without limitation, all patents, copyrights,
                                         trademarks, trade names, moral rights and other intellectual, industrial and/or proprietary
                                         rights and applications, extensions and renewals thereof (together with the Inventions,
                                         the "Proprietary Rights"), shall be the sole and exclusive property
                                         of the Company, its successors and assigns (for the purpose of this Section 6, collectively,
                                         the "Company"), and that Dr. Shmulewitz will not have any rights or
                                         title whatsoever thereto, including, although not an employee, any right to receive compensation
                                         pursuant to Section 134 of the Israeli Patent Law - 1967. All works authored by Dr. Shmulewitz
                                         pursuant to this Agreement, including, without limitation, the Inventions, shall be deemed
                                         "works made for hire".

 

		6.2	If
                                         and to the extent the Company’s sole and exclusive ownership of the Proprietary
                                         Rights, in whole or in part, is not recognizable for any reason whatsoever, Dr. Shmulewitz
                                         hereby irrevocably transfers and assigns to the Company, solely and exclusively, all
                                         its/his rights, title and interest now and hereafter acquired in and to all Proprietary
                                         Rights (without any payments, liabilities or restrictions to any person or third party)
                                         in any and all media now known or hereafter devised, and all claims and causes of action
                                         of any kind with respect to any of the foregoing, throughout the world in perpetuity,
                                         and, when not otherwise assignable herein, agrees and undertakes to assign in the future
                                         to the Company all right, title and interest in and to any and all such Proprietary Rights
                                         (and all proprietary rights with respect thereto) and further undertakes to execute all
                                         necessary documentation and take all further action as may be required in order to perform
                                         such assignment, at the Company’s expense.

 

		6.3	In
                                         the event that pursuant to any applicable law Dr. Shmulewitz retains any rights in and
                                         to the Proprietary Rights that cannot be assigned to the Company, Dr. Shmulewitz hereby
                                         unconditionally and irrevocably waives the enforcement of all such rights, and all claims
                                         and causes of action of any kind with respect to any of the foregoing and agrees, at
                                         the request and expense of the Company, to consent to and join in any action to enforce
                                         such rights and to procure a waiver of such rights from the holders of such rights, if
                                         any.

 

    	 	4	 

     

    

 

		6.4	In
                                         the event that Dr. Shmulewitz retains any rights in and to Proprietary Rights that cannot
                                         be assigned to the Company and cannot be waived, Dr. Shmulewitz hereby grants the Company
                                         an exclusive, perpetual, worldwide, royalty-free license to exploit, use, develop, perform,
                                         modify, change, reproduce, publish and distribute, with the right to sublicense and assign
                                         such rights, and all claims and causes of action of any kind with respect to any of the
                                         foregoing, in and to the Proprietary Rights, in any way the Company sees fit and for
                                         any purpose whatsoever. Without derogating from the above, Dr. Shmulewitz hereby forever
                                         waives and agrees never to assert any and all rights of paternity or integrity, any right
                                         to claim authorship of any Invention, to object to any distortion, mutilation or other
                                         modification of, or other derogatory action in relation to any Invention, whether or
                                         not such would be prejudicial to his honor or reputation, and any similar right, existing
                                         under judicial or statutory law of any country in the world, or under any treaty, even
                                         after termination of its/his work on behalf of the Company.

 

		6.5	Without
                                         derogating from the above, any and all material (including, without limitation, software,
                                         designs, documentation, memoranda, notes, reports, manuals, patterns, programs, specifications,
                                         prototypes, formulas, drawings, records, data or other technical or proprietary information),
                                         and any copies or abstracts thereof, whether or not of a secret or confidential nature,
                                         furnished to Dr. Shmulewitz by the Company or conceived, conducted, developed, reduced
                                         to practice, compiled, created, written, authored, made and/or produced by Dr. Shmulewitz,
                                         alone or jointly with others, pursuant to, in connection with, resulting or arising from
                                         this Agreement and/or the provision of Services to the Company, or trade secrets of the
                                         Company, whether within the scope of the consultancy with the Company or otherwise and
                                         whether during the Term of this Agreement, prior thereto or thereafter, directly or indirectly
                                         related to the business of the Company as currently conducted and/or proposed to be conducted,
                                         is and shall remain the sole and exclusive property of the Company. Such property while
                                         in Dr. Shmulewitz's custody or control, as applicable, shall be maintained in good condition
                                         at Dr. Shmulewitz's expense, as applicable.

 

		6.6	Dr.
                                         Shmulewitz will promptly disclose to the Company fully and in writing (but otherwise
                                         keep in confidence) all Inventions. Dr. Shmulewitz hereby agrees and undertakes to provide
                                         the Company or any person designated by the Company all such information, to execute
                                         all necessary documentation and to take all further action as may be required to perfect
                                         the rights referred to herein, including, without limitation, any assignment of rights
                                         to the Company or the obtaining or enforcing any intellectual property rights, if applicable,
                                         in any and all countries, provided, that the Company will compensate Dr. Shmulewitz at
                                         a reasonable rate for time or expenses actually spent by him at the Company’s request
                                         on such assistance. Without derogating from any of Dr. Shmulewitz's obligations hereunder,
                                         Dr. Shmulewitz hereby appoints any officer of the Company as its duly authorized agent
                                         to execute, file, prosecute and protect the same before any government agency, court
                                         or authority.

 

		6.7	Dr.
                                         Shmulewitz's undertakings in this Section 6 shall remain in full force and effect after
                                         termination or expiration of this Agreement for any reason whatsoever or any renewal
                                         thereof.

 

	7.	Confidentiality 

 

		7.1	Dr.
                                         Shmulewitz represents and warrants that it will keep the terms and conditions of this
                                         Agreement strictly confidential and will not disclose it or provide a copy of this Agreement
                                         or any part thereof to any third person unless and to the extent required by applicable
                                         law.

 

    	 	5	 

     

    

 

		7.2	Any
                                         and all information and data of a proprietary or confidential nature concerning the business
                                         or financial activities of the Company or its technology or products (whether current
                                         or future), whether in oral, written, graphic, machine-readable form, or in any other
                                         form, including, without limitation, proprietary, business, financial, technical, development,
                                         product, marketing, sales, price, operating, performance, cost, know-how and process
                                         information, trade secrets, patents, patent applications, copyrights, ideas and inventions
                                         (whether patentable or not), and all record bearing media containing or disclosing such
                                         information and techniques, disclosed to or otherwise acquired by Dr. Shmulewitz ant
                                         in connection with this Agreement and any and all Proprietary Rights (collectively, "Confidential
                                         Information") is and shall remain the sole and exclusive property of the Company.

 

		7.3	At
                                         all times, both during the term of this Agreement and thereafter, Dr. Shmulewitz: (i)
                                         will keep the Confidential Information strictly confidential and will not disclose it,
                                         or any part thereof, provide any documentation with respect thereto, or any part thereof,
                                         directly or indirectly, to any third party, without the prior written consent of the
                                         Company or unless and to the extent required by applicable law; and (ii) will not use
                                         any Confidential Information or anything relating to it without the prior written consent
                                         of the Company, except and to the extent as may be necessary in the ordinary course of
                                         performing his duties and obligations hereunder and in the best interests of the Company.
                                         Notwithstanding the foregoing, Dr. Shmulewitz shall not be obligated to maintain the
                                         confidentiality of the Confidential Information which: (i) is or becomes a matter of
                                         public knowledge through no fault of Dr. Shmulewitz, or breach of this Agreement; (ii)
                                         is authorized, in writing, by the Company for release; (iii) was lawfully in Dr. Shmulewitz's
                                         possession before receipt from the Company, as evidenced by Dr. Shmulewitz, as the case
                                         may be, through written documentation; (iv) is lawfully received by Dr. Shmulewitz from
                                         a third party without a duty of confidentiality; or (v) reflects information and data
                                         generally known within the industries or trades in which the Company transacts business.

 

		7.4	At
                                         all times, both during the term of this Agreement and thereafter Dr. Shmulewitz will
                                         keep in trust all Confidential Information. In the event of the termination of this Agreement
                                         for any reason, or upon the Company’s earlier request, Dr. Shmulewitz will promptly
                                         deliver to the Company all materials referred to herein and Dr. Shmulewitz shall not
                                         retain or take any materials, or any reproduction thereof containing or pertaining to
                                         Confidential Information.

 

		7.5	Dr.
                                         Shmulewitz recognizes that the Company received and will receive confidential or proprietary
                                         information from third parties, subject to a duty on the Company’s part to maintain
                                         the confidentiality of such information and to use it only for certain limited purposes.
                                         At all times, both during the Term of this Agreement and after its termination, Dr. Shmulewitz
                                         undertakes to keep any and all such information in strict confidence and trust, and it
                                         will not use or disclose any of such information without the prior written consent of
                                         the Company, except as may be necessary to perform his duties hereunder and consistent
                                         with the Company’s agreement with such third party. Upon termination of this Agreement,
                                         Dr. Shmulewitz shall act with respect to such information as set forth in Section 3.4.

 

	8.	Non Competition

 

		8.1	Dr.
                                         Shmulewitz agrees and undertakes that he will not, during the Term of this Agreement
                                         and for a period of 6 months thereafter, compete or assist others to compete, whether
                                         directly or indirectly, with the business of the Company, as currently conducted and/or
                                         proposed to be conducted.

 

    	 	6	 

     

    

 

		8.2	Dr.
                                         Shmulewitz agrees and undertakes that during the Term of this Agreement and for a period
                                         of 6 months thereafter, he will neither solicit for employment or any other engagement
                                         nor employ or otherwise engage any person employed by the Company on the date of such
                                         termination or during the preceding 6 months, personally or in any business in which
                                         he is an officer or director, for any purpose or in any place, provided that the foregoing
                                         restriction shall not apply to employment or engagement of an employee: (i) following
                                         an employee’s affirmative response to a general recruitment effort carried out
                                         through a public solicitation or general solicitation, or (ii) upon an employee’s
                                         initiative.

 

		8.3	If
                                         any one or more of the terms contained in Sections ‎8.1 and ‎8.2 shall, for any
                                         reason, be held to be excessively broad with regard to time, geographic scope or activity,
                                         such term shall be construed in a manner to enable it to be enforced to the extent compatible
                                         with applicable law.

 

	9.	Compensation Policy

 

		9.1	Dr.
                                         Shmulewitz declares and confirms, that he is familiar and aware that the Company has
                                         adopted a compensation policy pursuant to the provisions of the Companies Law 5759-1999
                                         (the "Compensation Policy", and the "Law", respectively),
                                         and that the terms of this Agreement are subject to and shall be aligned with the provisions
                                         and guidelines of the Compensation Policy in force, and as shall be determined from time
                                         to time. Copy of the Compensation Policy is attached hereto as an integral part of this
                                         Agreement.

 

		9.2	In
                                         the event that this Agreement and/or any of its provisions shall be proclaimed and/or
                                         considered by a competent authority not aligned with the Compensation Policy and not
                                         in accordance with the provision of the Law ("Contradicting Term"),
                                         then the Parties shall cooperate to adjust any Contradicting Term with the Compensation
                                         Policy or to be approved by the Company’s relevant organs, as per the Parties consent
                                         and in accordance with applicable law and regulations.

 

		9.3	Without
                                         derogating from Dr. Shmulewitz's rights under this Agreement, in the event that the abovementioned
                                         adjustment is not possible or achievable under the circumstances, Dr. Shmulewitz shall
                                         not hold any demand, allegations or claims against the Company, in the event the Company
                                         cannot make the necessary adjustment for reasons beyond the Company’s control.

 

		9.4	Without
                                         derogating from the provisions of the Compensation Policy, to the extent that any amount
                                         or fees paid to Dr. Shmulewitz hereunder shall be revealed, within three (3) years of
                                         the payment thereof, to have been paid based on erroneous calculations that have been
                                         restated in the Company's financial statements, Dr. Shmulewitz shall repay the Company
                                         amount paid in excess as aforesaid; all in accordance with the provisions of the Compensation
                                         Policy.

 

	10.	Independent Contractor

 

		10.1	The
                                         parties agree that Dr. Shmulewitz shall act as an independent contractor in the performance
                                         of the Services and that nothing contained herein shall create or be construed to create
                                         an employer-employee relationship between the parties and Dr. Shmulewitz shall not be
                                         entitled to any Company employment rights or benefits.

 

		10.2	Without
                                         derogating from the above, in the event that, notwithstanding the parties’ representations
                                         and undertakings hereunder, Dr. Shmulewitz, or anyone on its behalf, shall claim, or
                                         a court of competent jurisdiction shall determine, the existence of employer-employee
                                         relationship between Dr. Shmulewitz and the Company, then the following provisions shall
                                         apply: (i) Dr. Shmulewitz's monthly salary for such claimed or determined period of employer-employee
                                         relationship shall be equal to 60% (sixty percent) of the sum of the Monthly Fee and
                                         expenses reimbursement due to Dr. Shmulewitz as consideration for the Services hereunder
                                         (for the purposes of this Section ‎10, the “Monthly Salary”);
                                         (ii) the Monthly Salary shall be deemed to constitute all of the Company’s liabilities
                                         and obligations towards Dr. Shmulewitz, of any source or origin, with respect to and
                                         in connection with said employer-employee relationship, except for such rights with respect
                                         to which global compensation may not be determined pursuant to applicable law, (iii)
                                         Dr. Shmulewitz will immediately pay the Company all amounts paid to it beyond the sums
                                         calculated as stated in paragraph (i) above, and (iv) Dr. Shmulewitz shall be liable
                                         to fully indemnify the Company for any damages, liabilities, or other costs and expenses
                                         incurred in connection with any such determination.

 

    	 	7	 

     

    

 

		10.3	The
                                         Company shall be entitled to set-off any amount due to it pursuant to this Section ‎10
                                         from any amount due to Dr. Shmulewitz pursuant to this Agreement.

 

		10.4	Dr.
                                         Shmulewitz hereby undertakes to indemnify, defend, hold harmless and reimburse the Company,
                                         its officers, agents, employees, representatives, successors and assigns against any
                                         claim, liability, loss and expense, including reasonable attorneys fees, arising from
                                         any suit, cause of action, demand or claim brought by any person or entity (including
                                         related costs and expenses) due to taxes, payment or withholding, wages, premiums, contributions
                                         social security payments, pension payments, employee benefits, health insurance and any
                                         other such payments resulting from any payment made by the Company to Dr. Shmulewitz
                                         under this Agreement, or otherwise in connection herewith.

 

	11.	Securities Internal Compliance Plan; Insider Trading
Policy

 

Dr.
Shmulewitz declares and confirms, that he is familiar and aware that the Company has adopted a Securities Internal Compliance
Plan (the "Internal Compliance Plan"), and are familiar with its terms, obligations and restrictions, and shall
act in accordance with the provisions and guidelines of the Internal Compliance Plan in force, and as shall be determined from
time to time.

 

	12.	Miscellaneous

 

		12.1	The
                                         provisions of Sections 4.5, 4.6, 6 through 8, 10 above and ‎13.2 below shall survive
                                         the termination of this Agreement for any reason whatsoever.

 

		12.2	This
                                         Agreement shall be governed by the laws of the State of Israel and the competent courts
                                         in Tel-Aviv shall have exclusive jurisdiction in all matters pertaining or relating thereto.

 

		12.3	This
                                         Agreement is for the services of Dr. Shmulewitz and none of the Services to be provided
                                         by Dr. Shmulewitz hereunder may be delegated, assigned or subcontracted to others without
                                         the prior written consent of the Company, in each case. Dr. Shmulewitz shall not be entitled
                                         to bind the Company for any purposes unless specifically authorized by the Company in
                                         writing in advance.

 

		12.4	This
                                         Agreement constitutes the entire agreement between the parties and supersedes all previous
                                         agreements and understandings, hereto, whether oral or written, express or implied, with
                                         respect to the subject matter contained in this Agreement.

 

		12.5	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 Dr. Shmulewitz and the
                                         Company. No delay or failure by either party hereto at any time to act with respect to
                                         any breach or default by the other party 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.

 

		12.6	All
                                         notices required to be delivered under this Agreement shall be effective only if in writing
                                         and shall be deemed received upon the earlier of: (i) if sent by facsimile or email,
                                         upon transmission and electronic or other confirmation of receipt or (if transmitted
                                         and received on a non-business day) on the first business day following transmission
                                         and electronic or other confirmation of receipt, (ii) five (5) days after the date of
                                         mailing if mailed by registered mail to the addresses set forth above; and (iii) if sent
                                         by messenger, upon delivery.

 

		12.7	The
                                         execution, delivery and performance of this Agreement is subject to the obtainment of
                                         all applicable corporate and regulatory approvals, if and to the extent necessary.

 

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    	 	8	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date.

 

	/s/ Elran Haber	 	/s/ Guy Goldin	 	/s/ Ascher
Shmulewitz
	Therapix Biosciences Ltd.	 	Dr. Shmulewitz
	 	 	 	 	 	 	 
	By: 	Elran Haber	 	 Guy Goldin	 	By: 	Ascher Shmulewitz
	Title: 	CEO	 	CFO	 	Title: 	Chairman

 

    	 		 

     

    

1st Addendum
of Consulting and Services Agreement

 

This
1st addendum (this “Addendum”) is made and entered
into on this  17 day of April, 2016, by and between Therapix Biosciences Ltd., a public company organized under the laws
of the State of Israel, with principal offices at 5 Azrieli Center, 27th floor, Tel-Aviv 67025, Israel and its subsidiaries (the
“Company”), Dr. Ascher Shmulewitz, of Yoav 20 Steet, Tel-Aviv
6908158, Israel (“Dr. Shmulewitz” or the “Consultant”), and Medgenesis Partners Ltd., a
private company organized under the laws of the State of Israel, incorporation number 513054064, with principal offices at Yoav
20 Steet, Tel-Aviv 6908158, Israel (the “Management Co.”).

 

The
Company, the Consultant, and the Management Co. may be referred to collectively as the “Parties” and each as
a “Party”.

 

		Whereas	the
                                         Company and the Consultant have entered into an Consulting and Services Agreement, dated
                                         February 16, 2016 (the “Agreement”),
                                         which is incorporated to this Addendum as an integral part thereof as Schedule
                                         A; and

 

		Whereas	the
                                         Consultant wishes to assign the Agreement to the Management Co., and the Management Co.
                                         wishes and accepts such assumption of the Agreement, and to assume all rights and obligations
                                         under the Agreement as further set forth herein in this Addendum (the “Assignment”);
                                         and

 

		Whereas	the
                                         Company agrees to the Assignment, subject to the terms and conditions as further set
                                         forth herein in this Addendum.

 

NOW
THEREFORE, in consideration of the mutual promises contained herein, and intending to be legally bound, the parties hereby
declare and agree as follows:

 

	1.	Capitalized
                                         terms used and not otherwise defined herein shall bear the respective meanings ascribed
                                         to them in the Agreement.

 

	2.	Preamble.
                                         The preamble of this Addendum constitutes an integral part thereof.

 

	3.	Assignment.
                                         Consultant hereby assigns the Management Co. the Agreement, the rights and obligations
                                         contained in it, and the Management Co. hereby assumes all rights and obligations contained
                                         in it, and shall be considered in every respect the counterparty to the Agreement, as
                                         of February 16, 2016, except that The Consultant shall continue to render his services
                                         to the Company and the consulting services shall be provided solely by the Consultant,
                                         and by him alone personally.

 

	4.	Warranty
                                         and Representation. The Management Co. hereby warrants and represents to have the necessary
                                         means, permits and/or approvals to execute this Addendum, and will have for the duration
                                         of the Agreement the ability to render Services and shall cause for the Services to be
                                         rendered by the Consultant; The Management Co. and the Consultant hereby warrant and
                                         represent that this Addendum is made at their own will and at their request, to have
                                         received all corporate approvals required in order to facilitate and execute this Addendum
                                         and the Assignment, which were properly approved them, and that Consultant is the sole
                                         controlling shareholder of the Management Co.

 

	5.	The
                                         Agreement shall be adjusted mutate-mutandis. Immediately following the execution
                                         of this addendum, the provisions of the Agreement shall be adjusted in accordance with
                                         the necessary changes and amendments and be read in a manner to reflect said Assignment.

 

	6.	Indemnification.
                                         It is hereby clarified that the Assignment is not intended to impose the Company with
                                         any and/or additional cost, expense or liability of any kind whatsoever (directly or
                                         indirectly), and is not intended to cause any damage or to harm the Company in any way
                                         or to diminish any right the Company holds for receiving the Services from the Consultant
                                         under the Agreement. Any such additional cost, expense, liability, damage, expenses or
                                         harm of any kind caused as a result of the Assignment shall be immediately indemnified,
                                         ratified, relieved and/or cured by the Consultant and/or the Management Co., severely
                                         and jointly, solely for the benefit of the Company, and the Company shall be immediately
                                         compensated and indemnified for any such costs and/or damage incurred by the Company
                                         as a result of the Assignment, including without derogating the generality of the foregoing,
                                         with respect to tax implications and/or labor and employment issues.

 

	7.	The
                                         Agreement shall continue in full force and effect as originally constituted, subject
                                         to the changes and amendment required following the Assignment under this Addendum. Any
                                         contradiction in meaning and/or interpretation between the Agreement and this Addendum
                                         shall have the meaning and/or be interpreted in light of the Agreement.

 

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IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date.

 

	/s/
Elran Haber	 	 /s/
    Guy Goldin	 	/s/
    Dr. Ascher Shmulewitz
	Therapix Biosciences Ltd.	 	Dr.
    Ascher Shmulewitz
	 	 	 	 	 	 	 
	By:
    	 Elran Haber	 	 Guy Goldin	 	 	 
	Title:
    	 CEO	 	 CEO	 	 	 
	 	 	 	 	 	 	 

	 	 	 	/s/
    Medgenesis Partners Ltd.
	 	 	 	Medgenesis
    Partners Ltd.
	 	 	 	 	 

	 	 	 	By:
    	 
	 	 	 	Title:

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