Document:

Exhibit 10.6

    

     

    

    
      CHAIRMAN AGREEMENT

       

      This Chairman Agreement (the “Agreement”) is made and entered into as of
        this March 4, 2020, by and between Mr. Steven H. Lavin, with offices located at c/o Lavin & Gedville, P.C., 1849 Green Bay Road, Suite 440, Highland Park, Illinois 60035 (the “Chairman”) and Meat Tech 3D,
        a company organized under the laws of the State of Israel with offices located at 18 Einstein, Nes Ziona, Israel (the “Company”).

      

      

      WITNESSETH

      

      

      WHEREAS, pursuant to the organization documents of the Company, Steven H. Lavin shall be designated as Chairman of the Company;

       

      WHEREAS, the Company is engaged in the business of 3D printing of lab-grown meat (the “Business”)

      

      

      WHEREAS, Chairman represents that he has the requisite skill, knowledge and capacity to serve on the Board of Directors (the “Board”) of the
          Company; and

      

      

      WHEREAS, the parties desire to state the terms and conditions of Chairman’s engagement with the Company, effective as of the Effective Date (as defined below), as set forth below.

      

      

      NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties hereby agree as follows:

      

      

      	

            	1.	
              Interpretation; Effectiveness

            

       

      	

            	1.1.	
              The preamble to this Agreement is an integral part of this Agreement.

            

      

      

      	

            	1.2.	
              The headings in this Agreement are for convenience and reference only and are not part of this Agreement nor may serve for the interpretation and are not part of the substance of this
                Agreement nor may serve for the interpretation thereof.

            

       

      	

            	1.3.	
              The effectiveness of this Agreement is subject to the Company’s obtaining all required internal authorizations, as legally required (including from its Board of Directors and
                shareholders’ meeting). The date in which such authorizations are obtained shall be referred to herein as the “Effective Date”.

            

       

      	

            	2.	
              Scope of Engagement

            

       

      	

            	2.1.	
              Subject to Section 10 hereof, the Chairman agrees to serve as the chairman of the Board of the Company and shall perform such duties as are usually assigned to an active, non- executive
                chairman of the Board and will contribute to the Company for its business, from his good name and familiarity with the food and meat industry for the advancement of the Company’s Business (the “Services”).

            

      

      

      
        
          

      

      
      	

            	2.2.	
              The Chairman will use commercially reasonable efforts to perform the Services faithfully, diligently and to the best of Chairman’s skill and ability.

            

       

      	

            	2.3.	
              The Chairman will report to the Board and work with Company management in furtherance of the Services.

            

      

      

      	

            	3.	
              Representations and Warranties of the Chairman

            

       

      Chairman represents and warrants to the Company as follows:

       

      	

            	3.1.	
              He is entitled to enter into this Agreement and to assume all of the obligations pursuant hereto, and that the execution and delivery of this Agreement and the fulfillment of the terms
                hereof (i) will not constitute a default under or conflict with any agreement or other instrument to which he is a party or by which he is bound; (ii) do not require the consent of any person or entity; and (iii) there are no contracts,
                impediments, hindrances or restrictive covenants preventing the full performance of his duties and obligations hereunder.

            

      

      

      	

            	3.2.	
              He shall not, directly or indirectly, receive or accept any payment, commission, rebate, discount, gratuity or other benefit, in cash or in kind, from any third party in connection with
                his engagement with the Company.

            

      

      

      	

            	4.	
              Representation and Warranties of the Company

            

       

      The Company represents and warrants to the Chairman as follows:

       

      	

            	4.1.	
              It is entitled to enter into this Agreement and to assume all of the obligations pursuant hereto, and that the execution and delivery of this Agreement and the fulfillment of the terms
                hereof (i) will not constitute a default under or conflict with any agreement or other instrument to which it is a party or by which it is bound; (ii) does not require the consent of any person or entity; and (iii) there are no contracts,
                impediments, hindrances or restrictive covenants preventing the full performance of its duties and obligations hereunder.

            

      

      

      	

            	5.	
              Compensation

            

       

      	

            	5.1.	
              During the period commencing on the Effective Date and ending upon termination of this Agreement in accordance with the terms hereof (the “Term”),

                in compensation for the performance of the Services by the Chairman, the Company shall pay the Chairman a monthly fee in the amount of USD 15,000 (the “Chairman Fee”). VAT shall be added if and to the
                extent legally required.

            

       

      	

            	5.2.	
              In addition, the Company hereby grants to the Chairman RSUs (the “RSUs”) of the Company, in accordance with the terms of that certain Investment
                Agreement, dated the date hereof.

            

      

      

      	

            	5.3.	
              The Company shall pay to the Chairman the Chairman Fee with respect to any relevant calendar month of Services during the Term, on the first day of the subsequent calendar month, to a
                bank account designated by the Chairman, via wire transfer or such other instructions as the Chairman shall provide in writing from time to time and shall prepare and file any required tax and similar documents in connection with the
                foregoing (other than such documents that by their nature should be filed by the Chairman personally), and provide a copy of such filings to the Chairman to the extent practicable.

            

       

      
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            	5.4.	
              The Chairman shall be entitled to receive prompt reimbursement of all documented out- of-pocket expenses reasonably incurred by it in connection with the performance of its duties
                hereunder (such as travel, communications, hospitality, etc.) provided that any expenses above USD1,000 in aggregate per month will require the prior written approval of the Company; provided that travel and accommodation expenses in
                connection with participation in Board meetings in Israel will not require such prior approval.

            

      

      

      	

            	6.	
              Term and Termination

            

       

      	

            	6.1.	
              This Agreement shall commence on the Effective Date and shall continue for a period of three (3) years (subject to obtaining any required consents in accordance with applicable law),
                unless extended by the Company, at the direction of the Board, and with the agreement of the Chairman, or earlier terminated by either the Company, at the direction of the Board, or the Chairman by providing the other party a ninety
                (90)-day prior written notice (the “Notice Period”), for any reason whatsoever or for no reason, or until terminated with an immediate effect under any of the circumstances set forth in clauses (i) or
                (ii) below (the “Special Circumstances”), provided that if the Agreement is terminated by the Company, at the direction of the Board, prior to the lapse of three (3) years from the Effective Date, for
                any reason other than the Special Circumstances (including the failure to approve the appointment of the Chairman by the Company’s shareholders’ meeting), or if the Chairman terminates this Agreement for Good Reason (as defined below), then
                all RSUs shall automatically become fully exercisable (subject to any restrictions pursuant to applicable law) upon such termination.

            

       

      (i)          Death or Disability. The death or disability of the
          Chairman (for purposes of this Section, “disability” shall be deemed to have occurred if Chairman is unable, due to any physical or mental disease or condition, to perform the Services for 90 days in any 12-month period);

       

      (ii)          Cause. The Company, at the direction of the Board, may terminate this Agreement immediately at any time for Cause. For purposes of this Agreement, termination for “Cause” shall mean and include: (a) conviction
          (including any plea of guilty) of any felony involving moral turpitude affecting the Company or its subsidiaries or any crime involving fraud; (b) action taken by the Chairman intentionally to harm the Company; (c) embezzlement of funds of the
          Company; (d) falsification of records or reports; (e) any breach of the Chairman’s fiduciary duty towards the Company (subject to Section 9 hereof); (f) any material breach of this Agreement which has not been cured by Chairman within thirty (30)
          days after its receipt of notice thereof from Company containing a description of the breach or breaches alleged to have occurred; (g) any breach of the Proprietary Information undertakings set forth in Section 6 of this Agreement).

       

      	

            	6.2.	
              For the purpose of this Agreement, the term “Good Reason” shall mean, without the Chairman’s express prior written consent, the occurrence of any
                of the following events: (i) a reduction following the Effective Date, in the Chairman Fee in connection with his engagement by the Company, in each case, as compared to the foregoing compensation and remuneration as of immediately prior to
                such change,; (ii) a material breach by the Company of this Agreement, which is not cured (if curable) within thirty (30) days after receipt of written notice thereof from the Chairman; (iii) a diminution by the Company in the Chairman’s
                position; and/or (iv) the assignment to the Chairman of additional material roles and/or duties, as compared to the roles and duties constituting the Services.

            

      

      

      
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            	6.3.	
              Notwithstanding the aforesaid, the Company shall be entitled to waive Chairman’s Services during the Notice Period or any part thereof, immediately or at any time prior to the
                completion of the Notice Period. In such event, all outstanding RSUs shall continue to vest until the completion of the Notice Period.

            

       

      	

            	6.4.	
              Upon the termination of this Agreement, the Chairman shall promptly deliver to the Company all books, memoranda, plans, computer software, customer lists, records and data of every kind
                in whatever form or medium relating to the business and affairs of the Company which are then in Chairman’s possession or control, provided, however, the Chairman shall not be required to destroy, delete or modify backup tapes or other
                media made pursuant to an automated archival process in the ordinary course.

            

       

      	

            	7.	
              Confidential & Proprietary Information

            

       

      	

            	7.1.	
              The Chairman agrees that all confidential, proprietary communications, materials, files, reports, analyses, correspondence, records, lists and other documents and information related to
                the Business of the Company provided by, prepared by, or made available by Company or any affiliate thereof or any person on behalf thereof to Chairman in connection with the Services (the “Company Materials”)

                shall be and shall remain the exclusive property of the Company, and the Chairman shall not disclose any Company Materials to any third party. Chairman specifically agrees that he shall not, at any time following the Effective Date, without
                the prior written consent of the Company, or as may otherwise be required by law or legal process, use, communicate or divulge any Company Materials to any third party. This Section 7.1 shall survive any expiration or termination of this
                Agreement.

            

       

      	

            	7.2.	
              Each of the Company and the Chairman agree that it or he, as the case may be, shall not make any statements, written or oral, or cause or encourage others to make any such statements
                that defame, disparage or in any way criticize the business reputations, practices or conduct of the other. This Section 7.2 shall survive any expiration or termination of this Agreement.

            

       

      	

            	8.	
              Relationship

            

       

      	

            	8.1.	
              The Chairman shall be at all times an independent contractor for the Company and shall not be entitled to any employees’ benefits or rights. This Agreement shall not be construed to
                create any relationship of employment, association, agency, partnership or joint venture between the Company and the Chairman nor shall it be construed to create any relationship other than that of principal and independent service provider
                between the Company and the Chairman. The Chairman is not an employee of the Company, and the Company shall not be obligated to treat the Chairman as an employee. The Chairman shall have no power or authority to act for or bind the Company.

            

      

      

      
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            	8.2.	
              The Chairman shall be responsible, solely and exclusively, to comply, at its own expense, with the provisions of all applicable requirements and with all laws applicable to it as a
                service provider or consultant to the Company, including, without limitation, payment of and the sole liability for all taxes applicable to the compensation hereunder, excluding VAT.

            

      

      

      	

            	8.3.	
              Concurrently herewith, the Company shall execute a Directors & Officers Indemnification and Exemption undertaking towards the Chairman in the form attached hereto as Annex 8.3.

            

       

      	

            	9.	
              Law Duties; Conflicts of Interest

            

       

      The Chairman must abide by the statutory, and fiduciary duties as a chairman of an Israeli publicly traded
        company, in particular, comply with the terms of the Israeli Companies Law. The Chairman must take decisions objectively in the best interests of the Company and is expected to bring an independent judgment to bear on issues of strategy,
        performance, resources and standards of conduct.

       

      	

            	10.	
              Business Opportunities

            

       

      The Company acknowledges that the Chairman is actively holding various positions in various businesses within the
        food and meat industry and other industries, including ownership of interest, directorships, executive positions and otherwise, and agrees that the foregoing are hereby approved by the Company. The parties agree that the Chairman shall have the
        right to, and shall have no duty (contractual or otherwise) not to, engage in or possess an interest, directly or indirectly, independently or with others, and in any capacity, in any business, entity or venture including, but not limited to within
        the food and meat industry provided that any such position that may directly conflict with Chairman services and duties as an officer of the Company shall be approved in advance by the Company. Nothing in this Agreement shall be deemed to prohibit
        the Chairman from dealing, or otherwise engaging in business, with persons transacting business with the Company, including any client, customer, supplier, lender or investor of the Company. The Chairman shall not be liable to the Company for
        breach of any duty (contractual or otherwise) by reason of the foregoing, or by reasons of the fact that the Chairman directly or indirectly pursues or acquires any such business opportunity or venture for itself or its affiliates, directs such
        opportunity or venture to another person or does not communicate, present or offer first such opportunity or venture to the Company. The Company shall not have any rights or obligations by virtue of this Agreement or the transactions contemplated
        hereby, in or to any independent venture of the Chairman, or the income or profits or losses or distributions derived therefrom, and such ventures shall not be deemed wrongful or improper.

       

      	

            	11.	
              Governing Law

            

       

      This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Israel
        regardless of its conflict of laws principles. Any dispute arising under or relating to this Agreement or any transactions contemplated herein shall be resolved exclusively by the courts of Tel-Aviv, and each of the parties hereby submits
        irrevocably to the jurisdiction of such venue.

      

      

      
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            	12.	
              Publicity. Without the prior written approval of the Chairman, the Company may
                  not use  the name, biography, picture or other likeness or information of the Chairman on its website, marketing or advertising materials.

            

      

      

      	

            	13.	
              Notice. All notices, requests, consents, claims, demands, waivers, and other
                  communications hereunder shall be in writing and shall be deemed to have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight
                  courier (receipt requested); (c) on the date sent by facsimile, email, or other electronic delivery (with oral or written confirmation of receipt) if sent during normal business hours of the recipient, and on the next business day if sent
                  after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the
                  addresses set out in this Agreement (or to such other address that may be designated by a party from time to time in accordance with this Section).

            

       

      	

            	14.	
              General Provisions

            

       

      	

            	14.1.	
              The Chairman may not transfer or assign, whether in whole or in part, its rights and obligations under this Agreement, without the prior written consent of the Company.

            

      

      

      	

            	14.2.	
              This Agreement may be amended, modified, superseded, canceled, renewed or extended, and the terms and covenants hereof may be waived, only by a written instrument executed by all
                parties. A waiver of any term or condition of this Agreement may be affected only by a written instrument executed by the party waiving compliance.

            

       

      	

            	14.3.	
              The failure of any party, at any time or times, to require performance of any provision of this Agreement shall in no manner affect the right of such party, at a later time, to enforce
                the same.

            

      

      

      	

            	14.4.	
              No waiver by any party of the breach of any term or covenant, whether by conduct or otherwise, in any one or more instances, shall be deemed to be, or construed as, a further or
                continuing waiver of any breach, or a waiver of the breach of any other term or covenant.

            

      

      

      	

            	14.5.	
              If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or by any other entity having competent jurisdiction, to be invalid, void
                or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated. It is hereby stipulated and declared to
                be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such which may be hereafter declared invalid, void or unenforceable.

            

      
        

        

        	

              	14.6.	
                This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.

              

        

        

        [Signature Page Follows]

      

       

      
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      IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date first above written.

       
        	
                Company

              	
                 

              	
                Chairman

              	
                 

              
	
                 

              	
                 

              	
                 

              	
                 

              
	
                By: /s/ Sharon Fima

              	
                 

              	
                By: /s/ Steven H. Lavin 

                

              	
                 

              
	
                 

              	
                 

              	
                 

              	
                 

              
	
                Name: Sharon Fima

              	
                 

              	
                Name: Steven H. Lavin

              	
                 

              
	
                 

              	
                 

              	
                 

              	
                 

              
	
                Title: CEO

              	
                 

              	
                 

              	
                 

              

      

      

    

  

  7Exhibit 10.7

    

    
       

          

      First Amended and Restated Investment Agreement - Meat Tech 3D Ltd.

       

      Please see below a potential outline for investing in Meat Tech 3D Ltd. (the “Company”):

       

      This First Amended and Restated Investment Agreement (the “Investment Agreement”) is made and entered on this 14th
        day of May, 2020, and amends and restates in its entirety the Investment Agreement made and entered on March 4, 2020. The intent of this Investment Agreement is to describe certain key terms of the proposed agreement between the Company, Mr. Steven
        H. Lavin and/or an entity controlled by him, Mr. Yossi Arad or a company controlled by him, and Silver Road Capital Ltd. (the “Investor Group”).

      

      

      	
              The Company

            	
              Meat Tech 3D Ltd.

            
	
              The Investor

            	
              The “Investor” shall be (a) Mr. Steven H. Lavin (the “Chairman”) or
                El Capital Investments, LLC, or another entity controlled by Mr. Steven H. Lavin or in which Mr. Steven H. Lavin holds, directly or indirectly, at least 50% of the shares (to invest approximately 75% of the total Original Investment Amount
                (as defined below)) and (b) Mr. Yossi Arad (the “Consultant”) or a company he holds (to invest approximately 25% of the total Original Investment Amount).

               

              

              The Investor’s Options (as defined below)), RSUs and the rights under the Ratchet Mechanism set forth below, shall be freely assignable by the owner of such rights to
                an affiliate of such owner. For the purpose of this Investment Agreement, a reference to an “affiliate” of a person, shall refer to a person controlling, controlled by, or under common control with such first person.

            
	
              Investment Outline

            	
              An investment in the Company by way of issuance of 1,391,794 Company shares, and additional Investor Options in accordance with the terms set forth in this Investment Agreement.

            
	
              Share Allocation Terms and additional rights

            	
              Investment.
                The Company will issue shares to the Investor in consideration for an investment in the amount of US$1 million (the “Original Investment Amount”) at a price
                per share of 2.49 NIS per share (the “PPS”) (the “Investment”).

               

              

              RSUs. In consideration for the services of the Chairman as an active chairman of the Company’s board of directors and the services of the Consultant as a consultant
                to the Company, the Investor shall be entitled to the following consideration, to be allocated between the Chairman and the Consultant pro- rata, in accordance with their relative investment amounts:

               

              No. of Granted RSU’S: 1,502,743.

               

              The RSUs shall vest in quarterly equal installments over 3 years; provided that all RSUs shall be fully exercisable immediately prior to the
                occurrence of a Ratchet Trigger Event (as defined below), or an M&A Transaction, as defined below. The exercise price of each RSU shall be the minimum purchase price per shares authorized by the Tel Aviv Stock Exchange at the relevant
                time (the “Minimum Price”), which Minimum Price is currently NIS 0.30.

               

              The term “M&A Transaction” shall mean any of the following transactions (in each case, in one or a
                series of related transactions), directly or indirectly: (i) merger or consolidation of the Company with or into one or more other entities, as a result of such, more than 50% of the outstanding shares of the surviving entity are held by
                persons who were not holders of Company’s shares as of immediately prior to such transaction or series of transactions, or the sale of more than 50% of the share capital of the Company to another entity; or (ii) sale, transfer, lease,
                irrevocable, perpetual, substantially worldwide and exclusive license or other conveyance (other than a pledge or grant of one or more security interests by the Company) of all or substantially all of the assets of the Company and/or
                subsidiaries thereof.

            

       

      

      
        
          

      

      
      	 	
              The term “Ratchet Trigger Event” shall mean (a) a change of the Company’s business to
                any business that is not 3D printing of lab-grown meat, (b) the commencement by the Company of any liquidation proceedings or the adoption of a winding up resolution by the Company or the appointment of a receiver to the Company or a filing
                by the Company of a motion for a stay of proceedings, and such actions or proceedings are not canceled within forty-five (45) days of its initiation; or (c) the Company (1) is unable or admits inability to pay its debts as they become due;
                (2) is deemed to, or is declared to, be unable to pay its debts under applicable law; (3) suspends or threatens to suspend making payments on its debts.

               

              

              Chairman Salary.
                Chairman shall be entitled to US$15K per month plus VAT if required.

               

              

              Danny Ayalon Salary. US$2.5K
                per month plus VAT if required.

               

              

              Ratchet Mechanism. In addition to the shares and RSUs to be issued in accordance with the foregoing, the Investor will have the option to force the Company to issue additional
                shares until its Original Investment Amount is returned in accordance with the following conditions (the “Ratchet Mechanism”). The Ratchet Mechanism shall
                apply separately to any Investor holding Investor Rights (as defined below) with respect to its portion of the Investor Rights and any notices and elections described below shall be made separately by or to, as applicable, each such
                Investor:

               

              

              3.2  During a period of three (3) years following the issuance of the shares and the RSU’s by the Company in accordance with
                the foregoing (the “Ratchet Term”), the Investor shall be entitled to a ratchet protection mechanism as follows:

               

              3.2.1      At the end of the Term or, if earlier, following the occurrence of a Ratchet Trigger Event, in case a Notice (as
                defined below) has been provided, Company shall act to sell the Investor’s shares, including RSUs and Investor’s Options (collectively, the “Investor Rights”), as provided in section 3.2.4 hereunder.
                In case that the aggregate amount received by the Investor in consideration for the sale of such Investor Rights that were allocated by the Company to the Investor under this Investment Agreement (collectively, together with any amounts
                received by Investor in consideration for the sale of Investor Options prior to the exercise of such Investor Options plus the net profit (after tax and after deduction of the exercise price) by the Investor upon sale of Company shares
                issued upon exercise of Investor Options,  the “Sale Consideration”) is less than the Original Investment Amount, the Company will issue, no later than seven (7) days following a written request by
                the Investor, additional Company shares to the Investor, for no additional consideration, to be sold by the Investor at market price (subject to legal and other restrictions), having an aggregate value, together with the Sale Consideration,
                equal to the Original Investment Amount.

            

       

      

      
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              3.2.2      The Company will issue the Investor additional Company shares for no additional consideration, as described in the
                above Section 3.2.1, until the total Sale Consideration received by the Investor shall equal the Original Investment Amount, or the Investor will hold such number of shares which constitute 51% (calculated to reflect the portion held by
                each Investor) of the total shares of the Company, on a fully diluted basis (and shall not issue, for a period ending 60 days following the date in which the Investor was issued shares constituting 51% (calculated to reflect the portion
                held by each Investor) of the total shares of the Company, on a fully diluted basis, any additional securities or rights to convertible or exercisable to securities of the Company to any person without the Investor’s prior written consent),
                in each case, subject to compliance with any legal restrictions and receipt of any consents and approvals required by law.

               

              3.2.3      The Company shall notify the Investor as soon as possible and legally permitted prior to the occurrence of a
                Ratchet Trigger Event. No later than seven (7) days following the end of the Ratchet Term or, if earlier, the date of the occurrence of a Ratchet Trigger Event, the Investor shall inform the Company (the “Notice”)

                whether the  Investor wishes to sell or retain its Investor Rights. If Investor provides in such Notice it wishes to retain its Investor Rights, or fails to provide such Notice within such 7-day period, the Ratchet Mechanism shall
                terminate.

               

              3.2.4      If Investor provides in the Notice that it wishes to sell its Investor Rights, then, the Company shall have 60 days
                following Investor’s delivery of the Notice (the “Sale Period”), to find a purchaser for Investor Rights, in a Sale Consideration amount equal to (or exceeding) the Original Investment Amount. The
                distribution of the Investor Rights may be conducted by the Company via a prospectus or by means of sale to a private investor.

               

              

              3.2.5      If Company fails to find a purchaser which shall acquire the Investor Rights during the Sale Period for at least
                the Original Investment Amount in accordance with Section 3.2.4 above, then following the lapse of the Sale Period, Investor shall be required to sell the Investor Rights through a qualified distributor to be engaged by the Company, subject
                to legal restrictions. The distributor shall attempt to sell all the Investor Rights within a period of 60 days following the date of its engagement (“Sale by Distributor”), and only if the total Sale
                Consideration received from the Sale by Distributor, together with the Sale Consideration previously received by the Investor, if any, is less than the Original Investment Amount, then the Ratchet Mechanism shall be exercised and additional
                Company shares shall be issued to the Investor in accordance with Section 3.2.2 above, until the Sale Consideration received by the Investor for the sale of such additional Company shares, together with any Sale Consideration previously
                received by the Investor, shall equal the Original Investment Amount, and the Sale by Distributor shall occur again in the same manner and terms set forth above. Notwithstanding the foregoing, following the expiration of the period for the
                Sale by Distributor, the Investor shall be  entitled  to  notify  the  Company  that  it  chooses  to  receive such number of shares which constitute 51% (calculated to reflect the portion held by each Investor) of the total shares of the
                Company, on a fully diluted basis, and upon delivery of such notice, the Investor shall no longer be required to attempt to sell (directly or through another person, including the Company) any such share and the Company shall issue such
                shares in accordance with Section 3.2.2.

            

       

      

      
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              3.2.6      Notwithstanding the foregoing, the Company shall, prior to the issuance of any shares pursuant to the Ratchet
                Mechanism approach the Tel Aviv Stock Exchange (“TASE”) and obtain the TASE’s approval for such issuance, in a manner that shall comply with any legal requirements at the time of such issuance,
                including with respect to the Minimum Price (and the Company undertakes toward the Investors to take any reasonable actions in order to allow the performance of its obligations hereunder while complying with such legal undertakings), and
                the Investors shall pay for each such issued share of the Company, the Minimum Price. The Company further undertakes that if the Company share price as of immediately prior to the issuance of shares pursuant to the Ratchet Mechanism shall
                be less than NIS 1.00 per Company share, the Company shall consolidate its share capital (i.e., a share consolidate or a reverse share split), so that the price per Company share shall equal or exceed NIS 1.00, and if the Reatchet Mechanism
                would require issuance of Company shares which will result in the Investors holding at least 51% of the Company’s shares capital on a fully diluted basis, calculated immediately following such issuance, then, prior to such issuance, the
                Company shall consolidate its share capital so that the number of shares of the Company, on a fully diluted basis, shall equal 1,000,000 shares.

               

              3.2.7       The Ratchet Mechanism shall be cancelled (with respect to any Investor) following the occurrence of any of the
                following events:

               

              3.2.7.1   Any sale during the Ratchet Term by such Investor of any of the Investor Rights at a price per Company share which is
                less than the PPS.

               

              3.2.7.2   Additional Listing (as defined below) of Company shares in a leading foreign stock exchange (such as the NYSE, NASDAQ,
                or London Stock Exchange (not including the AIM) (a “Leading Foreign Exchange”) where all Investor RSUs are converted to Company shares listed for public trading in such Leading Foreign Exchange (the
                Investor acknowledges that the Company is currently considering listing its shares in the NASDAQ).

               

              3.2.7.3    Such time the Company raises from the public or an unrelated 3rd party an amount equal to 5 times the
                Original Investment Amount at an average price per share higher by 70% or more than the PPS.

               

              3.2.7.4    Such time the Company’s shares are traded 70% higher than the PPS - for 30 consecutive trading days (at an average
                minimum volume of NIS 200,000).

            
	
              Investor Option

            	
              Concurrently with the delivery of the Investment amount, the Company will issue to the Investor options exercisable to 8,040,382 Company shares, for an exercise price
                of NIS 3.36 per option (the “Investor Options”). The exercise period for the Investor Options will be 13 months from the date of grant, and such Investor Options shall be accelerated (i.e., will be
                required to be exercised or otherwise shall be terminated) immediately prior to the listing of the Company’s shares for public trading in a Leading Foreign Exchange. The Investor Options shall be subject to a grant letter to be entered into
                between the Company and the Investor, in the form attached hereto as Exhibit A. The shares issuable upon exercise of the Investor Options shall not be subject to a proxy.

            

       

      

      
        4

        
          

      

      	
              Silver Road Options

            	
              In consideration for advisory services that shall be set forth in a services agreement to be entered into between the Company and Silver Road
                Capital Ltd. (“SR”), in the form attached hereto as Exhibit B, concurrently with the delivery of the Investment amount, the Company will issue to SR
                3,934,655 options exercisable to Company shares, vested in equal quarterly installments over 1.5 years following the date of grant; provided that all SR options shall be fully exercisable immediately prior to the occurrence of an M&A
                Transaction, as defined below or a listing of the Company’s shares in any securities exchange other than the Tel Aviv Stock Exchange (pursuant to which the Company’s shares will be registered for trading on any such securities exchange
                (including through any transaction (such as reverse merger) the result of which is such listing) (an “Additional Listing”).

               

              

              The exercise price with respect to 50% of such options shall equal to the price of the Investment PPS. The exercise price with respect to the
                remainder of the options (50%) shall equal 40% over the Investment PPS.

               

              

              The term of said options shall be 4 years from the date of grant and such options shall be accelerated (i.e., will be required to be exercised or
                otherwise shall be terminated) immediately prior to an Additional Listing in a Leading Foreign Exchange (a “Mandatory Exercise Event”).

               

              

              The SR Options shall be subject to a grant letter to be entered into between the Company and SR. The shares issuable upon exercise of the SR
                Options shall not be subject to a proxy. In addition, if, at the time of, or during the period after a Mandatory Exercise Event, the shares issuable upon the exercise of the SR Options in connection with the Mandatory Exercise Event shall
                not be freely tradable, whether due to an underwriter’s or similar instruction or arrangement and/or due to legal or stock exchange restrictions, then SR shall be entitled to effectuate the exercise pursuant to the Mandatory Exercise Event
                through a net / cashless exercise (נטו מימוש), in accordance with the Company’s employee share option plan.

            
	
              Additional Terms

            	
              1.     The additional options exercise prices (and, if applicable, the amount of RSUs) will be adjusted in accordance with
                changes in the Company’s share capital (dividends, share split, rights issuances, etc.)

               

              2.    Subject to the other provisions of this Investment Agreement (including SR’s right to a cashless exercise set forth
                above), the Investor Option and Silver Road Options will have an automatic acceleration mechanism, given an Additional Listing in a Leading Foreign Exchange, so that in case of such Additional Listing all such option will be exercised and
                converted into Company’s shares or terminated (at SR or the Investor’s discretion, as the case may be), immediately prior to such Additional Listing (and the Company should notify them regarding the contemplated time of the Additional
                Listing no later than 5 business days prior to the completion of such Additional Listing (to the extent legally permitted and possible).

            

       

      

      
        5

        
          

      

      	 	
              3.    Mr. Steven H. Lavin will be appointed Chairman of the Board of Directors of the Company and shall enter into a
                directorship agreement, and Mr. Danny Ayalon from SR shall serve as an additional director on the Chairman’s behalf and on behalf of SR.

               

              4.   The Chairman will contribute to the Company for its business, from his good name and familiarity with the food and meat
                industry for the advancement of its business development.

               

              

              5.   The Company will not incur any debt (provided that this Section 5 shall not refer to any convertible debt that can be
                converted into Company’s ordinary shares at any time, at the Company’s discretion or to any loan proceeds which are kept in a restricted account and cannot be used by the Company other than following the conversion into equity), except with
                the approval of the Investor (any decisions or notices by the Investor in connection with the foregoing shall be delivered jointly by Mr. Steven H. Lavin and Mr. Yossi Arad) and a decision by a majority of the Company’s board of directors.

            
	
              Representations and Warranties of the Company

            	
              The Company hereby represents, warrants and undertakes to the Investor the following, and acknowledges that the Investor is entering into this
                Investment Agreement in reliance thereon:

               

              

              1.1.     Organization. The Company is an Israeli public company, duly organized and validly existing under the laws
                of the State of Israel. The Company has all requisite corporate power and authority to own and operate its properties and assets and to carry on its business as now conducted and as presently proposed to be conducted.

               

              

              1.2.     Authority. The Company has requisite corporate power and authority to enter into, execute, deliver
                and perform this Investment Agreement, to bind itself hereunder, to perform its obligations hereunder and to consummate the transactions contemplated hereby.

               

              

              1.3.     Authorization. Subject to the convening of a shareholders meeting, and approval of the transactions
                contemplated hereby by the Company’s shareholders, all corporate actions on the part of the Company, its officers, directors and shareholders necessary for the authorization, execution and delivery of this Investment Agreement and the
                performance of all of the Company’s obligations hereunder have been taken prior to the date hereof, and they constitute valid and legally binding obligations of the Company, enforceable in accordance  with their respective terms.

               

              

              1.4.     Valid Issuance. The Company shares, the RSUs, the SR Options and the Investor Options, when issued or
                granted in accordance with the terms hereunder, shall be duly authorized and granted, and with respect to the Company’s shares and RSUs issued hereunder and any shares underlying the SR Options and Investor Options, validly issued, fully
                paid and non- assessable, and shall be free of all liens, charges, encumbrances, or any other third-party rights (the “Liens”) and shall be free of any restrictions on transfer other than restrictions
                on transfer under the Company’s articles of association and under applicable law.

               

              

              1.5.       Share Capital

               

                

              (a)  The registered share capital of the Company as of the date hereof is NIS 1,000,000,000,
                divided into 1,000,000,000 ordinary shares.

            

       

      

      
        6

        
          

      

      	 	
              (b)   The Company has 50,708,009 ordinary shares issued and outstanding and options and Restricted Share Units exercisable to
                17,363,395 ordinary shares, in each case, as of the date hereof.

               

              

              (c)    The issued and outstanding shares of the Company immediately prior to the date hereof have been duly authorized
                validly issued, are fully paid and non-assessable, were issued in accordance with applicable corporate and securities laws and were issued free of all Liens, and were not issued in violation of any pre-emptive, anti- dilution or other
                similar rights.

               

              

              (d)    Other than as contemplated in or as a result of this Investment Agreement and as set forth in clause (b) above, no
                person or entity has any agreement, option, right (including without limitation, conversion rights, preemptive rights and rights of first refusal) or warrant for the subscription, allotment, issue or purchase of any of the Company’s shares
                or other securities of the Company, nor is the Company a party to any undertaking towards any person or entity, regarding issuance or sale of any shares or other securities of the Company.

               

              

              (e)    The issuance or grant of the shares, RSUs, SR Options or Investor Options hereunder or the exercise of the SR
                Options or Investor Options will not trigger any anti-dilution or pre-emptive rights which have not been either waived or fully satisfied.

               

              

              (f)     The Company is not subject to any outstanding or conditioned repurchase obligation of any of the securities issued
                by it and no security issued by the Company is redeemable by its terms.

               

              

              (g)    To the Company’s knowledge, there are no agreements, understandings, trusts or other collaborative arrangements or
                understandings concerning the shares of the Company, including any voting agreement granting them any special voting or veto rights.

               

              

              (h)    The Company has not granted or agreed to grant any registration rights, with respect to its presently outstanding
                securities or any securities that may hereafter be issued, to any person or entity.

               

              

              1.6.     Non-Contravention The execution, delivery and performance by the Company of this Investment Agreement and
                the consummation of the transactions contemplated hereby do not and will not (a) contravene or conflict with the organization documents of the Company, (b) contravene or conflict with any applicable law or judgment, decree, order, ruling,
                subpoena or verdict (whether temporary, preliminary or permanent) entered, issued, made or rendered by any court, administrative agency, arbitrator, governmental authority or other tribunal of competent jurisdiction, binding upon or
                applicable to the Company, (c) require notice, breach, conflict with or constitute a default under, or impair the rights of the Company, give rise to a right of termination, suspension, cancellation or amendment of any right of the Company,
                or acceleration or any adverse amendment of any obligation of the Company, or to a loss of any benefit to which the Company is entitled, or accelerate any obligation of the Company or increase or impose any liability on the Company, in each
                case under any provision of any contract, agreement or arrangement, binding upon the Company or by which any of the Company’s assets or properties are bound or subject, or any permit of the Company, or (d) result in the creation or
                imposition of any Lien on any assets or properties of the Company.

              

              

            

       

      

      
        7

        
          

      

      	
              Representations and Warranties of the Investors

            	
              Each Investor hereby represents, warrants and undertakes, as to itself only, severally and not jointly with the other Investor, to the Company the
                following, and acknowledges that the Company is entering into this  Investment Agreement in reliance thereon:

               

              

              1.1.      Organization. The Investor is duly organized and validly existing under the laws of the country of its
                organization, and has all the requisite corporate power and authority to own and operate its properties and assets and to carry on its business as now conducted and as presently proposed to be conducted.

               

              

              1.2.      Authority. The Investor has requisite corporate power and authority to enter into, execute, deliver and
                perform this Investment Agreement, to bind itself hereunder, to perform its obligations hereunder and to consummate the transactions contemplated hereby.

               

              

              1.3.      Authorization. All corporate actions on the part of the Investor, its officers, directors and shareholders
                necessary for the authorization, execution and delivery of this Investment Agreement and the performance of all of the Investor’s obligations hereunder have been taken prior to the date hereof, and they constitute valid and legally binding
                obligations of the Investor, enforceable in accordance with their respective terms.

                

              

              1.4.     Non-Contravention The execution, delivery and performance by the Investor of this Investment Agreement and
                the consummation of the transactions contemplated hereby do not and will not (a) contravene or conflict with the organization documents of the Investor, (b) contravene or conflict with any applicable law or judgment, decree, order, ruling,
                subpoena or verdict (whether temporary, preliminary or permanent) entered, issued, made or rendered by any court, administrative agency, arbitrator, governmental authority or other tribunal of competent jurisdiction, binding upon or
                applicable to the Investor, (c) require notice, breach, conflict with or constitute a default under, or impair the rights of the Investor, give rise to a right of termination, suspension, cancellation or amendment of any right of the
                Investor, or acceleration or any adverse amendment of any obligation of the Investor, or to a loss of any benefit to which the Investor is entitled, or accelerate any obligation of the Investor or increase or impose any liability on the
                Investor, in each case under any provision of any contract, agreement or arrangement, binding upon the Investor or by which any of the Investor’s assets or properties are bound or subject, or any permit of the Investor, or (d) result in the
                creation or imposition of any Lien on any assets or properties of the Investor.

            
	
              Confidentiality

            	
              No party shall disclose the existence or the terms of this Investment Agreement to any person other than its respective officers, employees, directors and professional
                advisors (provided that each party shall be responsible for any action or omission of such persons in contradiction to the confidentiality provisions of this Investment Agreement) without the written consent of the other party. The Company
                shall not make any public disclosure with respect to this Investment Agreement or the transactions contemplated hereby without first delivering a copy of such disclosure to the Investor Group and receipt of its approval for the content
                thereof.

            

      	
              Governing Law

            	
              This Investment Agreement shall be governed in all respects by the laws of the State of Israel. Any claim, dispute or controversy arising out of
                or in connection with this Investment Agreement, shall be subject to the sole jurisdiction of the applicable court in Tel Aviv, Israel.

            
	
              Reimbursement of Expenses

            	
              The Investment shall be used, among others, to reimburse the Investor for cost and expenses of legal counsel (up to an amount of $35,000), to be
                paid upon the consummation of the Investment upon receipt of an invoice.

            

       

      
        8

        
          

      

      This Investment Agreement is hereby acknowledged and agreed as of the date first above written:

       

      Meat Tech 3D Ltd.

       

       By:  /s/ Sharon Fima     /s/ Omri Schanin

       

      

       Name:  Sharon Fima and Omri Schanin

       

      

       Title:  CEO \ COO and Co Founders

       

      

      
        El Capital Investments, LLC

      

       

      

       By:  /s/ Steven H. Lavin

       

      

       Name:  Steven H. Lavin

       

      

      Title:
        

        

        
          Silver Road Capital Ltd.

        

        

        

        By:  /s/ Lior Maimon

        

        

        Name:  Lior Maimon
          

          

        

      

      Title:  CEO
      

      

      
        M.D. Premium Issuance Ltd.

         

       By:  /s/ Yossi Arad

       

      

       Name:  Yossi Arad

      

      Title:  CEO 

      

      

      [Investment Agreement - Signature Page]

       

      

    

  

  9

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