Document:

Blue
Sphere Corp. 

 

Global
Share Incentive Plan (2010)

 

1.          Name
And Purpose.

 

1.1           This
plan, which has been adopted by the Board of Directors of the Company, Blue Sphere Corp., as amended from time to time, shall be
known as the Blue Sphere Corp. Global Share Incentive Plan (2010) (the “Plan”).

 

1.2           The
purposes of the Plan are to attract and retain the best available personnel for positions of substantial responsibility, to provide
additional incentive to Service Providers of the Company and its affiliates and subsidiaries, if any, and to promote the Company's
business by providing such individuals with opportunities to receive Awards pursuant to the Plan and to strengthen the sense of
common interest between such individuals and the Company's Stockholders.

 

1.3           Awards
granted under the Plan to Service Providers in various jurisdictions may be subject to specific terms and conditions for such grants
may be set forth in one or more separate appendix to the Plan, as may be approved by the Board of Directors of the Company from
time to time.

 

2.          Definitions

 

“Administrator”
shall mean the Board of Directors or a Committee.

 

“Appendix”
shall mean any appendix to the Plan adopted by the Board of Directors containing country-specific or other special terms relating
to Awards including additional terms with respect to grants of restricted stock and other equity-based Awards.

 

“Award”
shall mean a grant of Options or allotment of Shares or other equity-based award hereunder. All Awards shall be confirmed by an
Award Agreement, and subject to the terms and conditions of such Award Agreement.

 

“Award Agreement”
shall mean a written instrument setting forth the terms applicable to a particular Award.

 

“Board of
Directors” shall mean the board of directors of the Company.

 

“Cause”
shall have the meaning ascribed to such term or a similar term as set forth in the Participant’s employment agreement
or the agreement governing the provision of services by a non-employee Service Provider, or, in the absence of such a definition:
(i) conviction (or plea of nolo contendere) of any felony or crime involving moral turpitude or affecting the Company; (ii)
repeated and unreasonable refusal to carry out a reasonable and lawful directive of the Company or of Participant’s supervisor
which involves the business of the Company or its affiliates and was capable of being lawfully performed; (iii) fraud or embezzlement
of funds of the Company or its affiliates; (iv) any breach by a director of his / her fiduciary duties or duties of care towards
the Company; and (v) any disclosure of confidential information of the Company or breach of any obligation not to compete with
the Company or not to violate a restrictive covenant.

 

“Committee”
shall mean a compensation committee or other committee as may be appointed and maintained by the Board of Directors, in its discretion,
to administer the Plan, to the extent permissible under applicable law, as amended from time to time.

 

    	 

    	 

    

 

“Company”
shall mean Blue Sphere Corp., a Nevada Corporation, and its successors and assigns.

 

“Consultant”
means any entity or individual who (either directly or, in the case of an individual, through his or her employer) is an advisor
or consultant to the Company or its subsidiary or affiliate.

 

“Corporate
Charter” shall mean the Certificate of Incorporation and By-laws of the Company, and any subsequent amendments or replacements
thereto.

 

“Disability”
shall have the meaning ascribed to such term or a similar term in the Participant's employment agreement (where applicable),
or in the absence of such a definition, the inability of the Participant, in the opinion of a qualified physician acceptable to
the Company, to perform the major duties of the Participant’s position with the Company because of the sickness or injury
of the Participant for a consecutive period of 90 days.

 

“Fair Market
Value” shall mean, as of any date, the value of Shares, determined as follows:

 

(i) If the Shares are
listed on any established stock exchange or traded on the Nasdaq National Market or the Nasdaq Small Cap Market, the Fair Market
Value of a Share of common stock of the Company shall be the closing sales price for such stock (or the closing bid, if no sales
were reported) as quoted on such exchange or market (or the exchange or market with the greatest volume of trading in the common
stock) on the last market trading day prior to the day of determination, as reported in the Wall Street Journal or such other source
as the Board deems reliable.

 

(ii) In the absence
of such markets for the Shares, the Fair Market Value shall be determined in good faith by the Board.

 

“IPO”
shall mean an initial offering of the Company’s Shares to the public in an underwritten offering under an applicable registration
statement.

 

“Options”
shall mean options to purchase Shares awarded under the Plan.

 

“Participant”
shall mean a recipient of an Award hereunder who executes an Award Agreement.

 

“Restricted
Stock” means an Award of Shares under this Plan that is subject to the terms and conditions of Section 7.

 

“Service
Provider” shall mean an employee, director, office holder or Consultant of the Company or its subsidiary or affiliate.

 

“Shares”
shall mean shares of common stock, par value US$ 0.0001 per share, of the Company.

 

“Transaction”
shall have the meaning set forth in Section 10.2.

 

3.          Administration
of the Plan.

 

3.1           The
Plan will be administered by the Administrator. If the Administrator is a Committee, such Committee will consist of such number
of members of the board of directors of the Company (not less than two in number), as may be determined from time to time by the
Board of Directors. The Board of Directors shall appoint such members of the Committee, may from time to time remove members from,
or add members to, the Committee, and shall fill vacancies in the Committee however caused.

 

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3.2           The
Committee, if appointed, shall select one of its members as its Chairman and shall hold its meetings at such times and places as
it shall determine. Actions at a meeting of the Committee at which a majority of its members are present or acts approved in writing
by all members of the Committee shall be the valid acts of the Committee. The Committee shall appoint a secretary, who shall keep
records of its meetings and shall make such rules and regulations for the conduct of its business and the implementation of the
Plan, as it shall deem advisable, subject to the directives of the Board of Directors and in accordance with applicable law.

 

3.3           Subject
to the general terms and conditions of the Plan, and in particular Section 3.4 below, the Administrator shall have full authority
in its discretion, from time to time and at any time, to determine (i) eligible Participants, (ii) the number of Options or Shares
to be covered by each Award, (iii) the time or times at which the Award shall be granted, (iv) the vesting schedule and other terms
and conditions applying to Awards, (v) the form(s) of written agreements applying to Awards, and (vi) any other matter which is
necessary or desirable for, or incidental to, the administration of the Plan and the granting of Awards. The Board of Directors
may, in its sole discretion, delegate some or all of the powers listed above to the Committee, to the extent permitted by applicable
law, its Corporate Charter or other applicable law, rules and regulations.

 

3.4           No
member of the Board of Directors or of the Committee shall be liable for any action or determination made in good faith with respect
to the Plan or any Award granted hereunder. Subject to the Company’s decision and to all approvals legally required, each
member of the Board or the Committee shall be indemnified and held harmless by the Company against any cost or expense (including
counsel fees) reasonably incurred by him or her, or any liability (including any sum paid in settlement of a claim with the approval
of the Company) arising out of any act or omission to act in connection with the Plan unless arising out of such member’s
own willful misconduct or bad faith, to the fullest extent permitted by applicable law. Such indemnification shall be in addition
to any rights of indemnification the member may have as a director or otherwise under the Company’s Corporate Charter, any
agreement, any vote of stockholders or disinterested directors, insurance policy or otherwise.

 

3.5           The
interpretation and construction by the Administrator of any provision of the Plan or of any Option hereunder shall be final and
conclusive. In the event that the Board appoints a Committee, the interpretation and construction by the Committee of any provision
of the Plan or of any Option hereunder shall be conclusive unless otherwise determined by the Board of Directors. To avoid doubt,
the Board of Directors may at any time exercise any powers of the Administrator, notwithstanding the fact that a Committee has
been appointed.

 

3.6           The
Administrator shall have the authority to adopt, alter and repeal such administrative rules,
guidelines and practices governing the Plan and perform all acts, including the delegation of its responsibilities (to the extent
permitted by applicable law and applicable stock exchange rules), as it shall, from time to time, deem advisable; to construe
and interpret the terms and provisions of the Plan and any Award issued under the Plan (and any agreements relating thereto);
and to otherwise supervise the administration of the Plan. The Administrator may correct any defect, supply any omission or reconcile
any inconsistency in the Plan or in any agreement relating thereto in the manner and to the extent it shall deem necessary to
effectuate the purpose and intent of the Plan. Notwithstanding the foregoing, no action of the Administrator under this Section
‎3.6 not otherwise provided for herein or in an Award Agreement shall reduce the vested rights of any Participant without
the Participant’s consent. 

 

3.7           Without
limiting the generality of the foregoing, the Administrator may adopt special appendices and/or guidelines and provisions for
persons who are residing in or employed in, or subject to, the taxes of, any domestic or foreign jurisdictions, to comply with
applicable laws, regulations, or accounting, listing or other rules with respect to such domestic or foreign jurisdictions.

 

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		4.	Eligible
                                                                                                                                                                 Participants.

 

4.1           No
Award may be granted pursuant to the Plan to any person serving as a member of the Committee or to any other Director of the Company
at the time of the grant, unless such grant is approved in the manner prescribed for the approval of compensation of directors
under applicable law.

 

4.2           Subject
to the limitation set forth in Section ‎4.1 above and any
restriction imposed by applicable law, Awards may be granted to any Service Provider of the Company, whether
or not a director of the Company or its affiliates. The grant of an Award to a Participant hereunder shall neither
entitle such Participant to receive an additional Award or participate in other incentive plans of the Company, nor disqualify
such Participant from receiving any additional Award or participating in other incentive plans of the Company.

 

		5.	Reserved
                                                                                                                                                                 Shares.

 

The Company shall
determine the number of Shares reserved hereunder from time to time, and such number may be increased or decreased by the Company
from time to time. Any Shares under the Plan, in respect of which the right hereunder of a Participant to purchase the same shall
for any reason terminate, expire or otherwise cease to exist, shall again be available for grant as Awards under the Plan. Any
Shares that remain unissued and are not subject to Awards at the termination of the Plan shall cease to be reserved for purposes
of the Plan. Until termination of the Plan the Company shall at all times reserve a sufficient number of Shares to meet the requirements
of the Plan.

 

		6.	Award Agreement.

 

6.1           The
Board of Directors in its discretion may award to Participants Awards available under the Plan. The terms of the Award will be
set forth in the Award Agreement. The date of grant of each Award shall be the date specified by the Board of Directors at the
time such award is made, or in the absence of such specification, the date of approval of the award by the Board of Directors.

 

6.2           The
Award Agreement shall state, inter alia, the number of Options or Shares or equity-based units covered thereby, the type
of Option or Share-based or other grant awarded, any special terms applying to such Award (if any), including the terms of any
country-specific or other applicable Appendix, as determined by the Board of Directors.

 

		7.	Restricted
Stock and Other Equity-Based Awards.

 

7.1           Eligibility.
Restricted Stock may be issued to all Participants either alone or in addition to other Awards granted under the Plan. The Administrator
shall determine the eligible Participants to whom, and the time or times at which, grants of Restricted Stock will be made, the
number of shares to be awarded, the purchase price (if any) to be paid by the Participant (subject to Section 7.2), the time or
times at which such Awards may be subject to forfeiture (if any), the vesting schedule (if any) and rights to acceleration thereof,
and all other terms and conditions of the Awards. The Administrator may condition the grant or vesting of Restricted Stock upon
the attainment of specified performance targets or such other factors as the Administrator may determine, in its sole discretion.
Unless otherwise determined by the Administrator , the Participant shall not be permitted to sell or transfer shares of Restricted
Stock awarded under this Plan during a period set by the Administrator (if any) (the “Restriction Period”) commencing
with the date of such Award, as set forth in the applicable Award agreement.

 

7.2           Terms.
A Participant selected to receive Restricted Stock shall not have any rights with respect to such Award, unless and until such
Participant has delivered a fully executed copy of the Award Agreement evidencing the Award to the Company and has otherwise complied
with the applicable terms and conditions of such Award. The purchase price of Restricted Stock shall be determined by the Administrator,
but shall not be less than as permitted under applicable law. Awards of Restricted Stock must be accepted within a period of 60
days (or such shorter period as the Administrator may specify at grant) after the grant date, by executing an Award Agreement and
by paying whatever price (if any) the Administrator has designated thereunder.

 

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7.3           Legend.
 Each Participant receiving Restricted Stock shall be issued a share certificate in respect of such shares of Restricted Stock,
unless the Administrator elects to use another system, such as book entries by the transfer agent, as evidencing ownership of Restricted
Stock. Such certificate shall be registered in the name of such Participant, and shall bear an appropriate legend referring to
the terms, conditions, and restrictions applicable to such Award, substantially in the following form (as well as other legend
required by the Administrator pursuant to Section 19.3 below):

 

“The anticipation, alienation,
attachment, sale, transfer, assignment, pledge, encumbrance or charge of the shares represented hereby are subject to the terms
and conditions (including forfeiture) of the Blue Sphere Corp. Global Incentive Plan (2009), and an Award Agreement entered into
between the registered owner and the Company dated ____________. Copies of such Plan and Award agreement are on file at Blue Sphere
Corp.”

 

7.4           Custody.
The Administrator may require that any share certificates evidencing such shares be held in custody by the Company until the restrictions
thereon shall have lapsed, and that, as a condition of any Restricted Stock Award, the Participant shall have delivered a duly
signed share transfer deed, endorsed in blank, relating to the Shares covered by such Award.

 

7.5           Rights
as Stockholder. Except as provided in this Section and Section 7.4 above and as otherwise determined by the Administrator and
set forth in the Award Agreement, the Participant shall have, with respect to the shares of Restricted Stock, all of the rights
of a holder of Shares including, without limitation, the right to receive any dividends, the right to vote such shares and, subject
to and conditioned upon the full vesting of shares of Restricted Stock, the right to tender such shares. Notwithstanding the foregoing,
the payment of dividends shall be deferred until, and conditioned upon, the expiration of the applicable Restriction Period, unless
the Administrator, in its sole discretion, specifies otherwise at the time of the Award.

 

7.6           Lapse
of Restrictions. If and when the Restriction Period expires without a prior forfeiture of the Restricted Stock subject to such
Restriction Period, the certificates for such shares shall be delivered to the Participant. All legends shall be removed from said
certificates at the time of delivery to the Participant except as otherwise required by applicable law. Notwithstanding the foregoing,
actual certificates shall not be issued to the extent that book entry recordkeeping is used.

 

7.7           
Other Equity-Based Awards. Other equity-based awards (including, without limitation, restricted stock units and performance
share awards) may be granted either alone or in addition to or other Awards granted under the Plan to all eligible Participants
pursuant to such terms and conditions as the Administrator may determine, including without limitation, in one or more appendix
adopted by the administrator and appended to this Plan.

 

		8.	Exercise of Options.

 

8.1           Options
shall be exercisable pursuant to the terms under which they were awarded and subject to the terms and conditions of the Plan and
any applicable Appendix, as specified in the Award Agreement.

 

8.2           The
exercise price for each share to be issued upon exercise of an Option shall be such price as is determined by the Board in its
discretion, provided that the price per Share is not less than the par value of each Share.

 

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8.3           An
Option, or any part thereof, shall be exercisable by the Participant's signing and returning to the Company at its principal office
(and to the Trustee, where applicable), a “Notice of Exercise” in such form and substance as may be prescribed by the
Board of Directors from time to time, together with full payment for the Shares underlying such Option.

 

8.4           Each
payment for Shares under an Option shall be in respect of a whole number of Shares, shall be effected in cash or by check payable
to the order of the Company, or such other method of payment acceptable to the Company as determined by the Administrator, and
shall be accompanied by a notice stating the number of Shares being paid for thereby.

 

8.5           Until
the Shares are issued (as evidenced by the appropriate entry in the share register of the Company or of a duly authorized transfer
agent of the Company) a Participant shall have no right to vote or right to receive dividends or any other rights as a shareholder
shall exist with respect to such Shares, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued)
such Shares promptly after the Option is exercised. No adjustment will be made for a dividend or other right the record date for
which is prior to the date the Shares are issued, except as provided in Section ‎9
of the Plan.

 

8.6           To
the extent permitted by law, if the Share is traded on a national securities exchange, The Nasdaq Share Market or quoted on a national
quotation system sponsored by the National Association of Securities Dealers or otherwise publicly traded or quoted, payment for
the Shares underlying an Option may be made all or in part by the delivery (on a form prescribed by the Company) of an irrevocable
direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the sales proceeds to the
Company in payment of the exercise price (or the relevant portion thereof, as applicable) and any withholding taxes, or on such
other terms and conditions as may be acceptable to the Administrator. No Shares shall be issued until payment has been made or
provided for, as provided herein.

 

		9.	Termination
of Relationship as Service Provider.

 

9.1           Effect
of Termination; Exercise after Termination. Unless otherwise determined by the Administrator,
if a Participant ceases to be a Service Provider, such Participant may exercise any outstanding Options within such period of time
as is specified in the Award Agreement or the Plan to the extent that the Options are vested on the date of termination (but in
no event later than the expiration of the term of the Option as set forth in the Option Agreement). If, on the date of termination,
any Options are unvested, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination,
the Participant does not exercise the vested Options within the time specified in the Award Agreement or the Plan, the Option shall
terminate, and the Shares covered by such Option shall revert to the Plan. 

 

In
the absence of a provision specifying otherwise in the relevant Award Agreement, then:

 

(a)          in
the event that the Participant ceases to be a Service Provider for any reason other than termination for Cause, or as a result
of the Participant’s death or Disability: (i) the vested Options shall remain exercisable until the earlier of: (i) a period
of three (3) months from the Date of Termination; or (ii) expiration of the term of the Option as set forth in Section 13; and
(ii) all Restricted Stock still subject to
restriction under the applicable Restriction Period, as set forth in the Award Agreement, shall be forfeited; 

 

(b)          in
the event that the Participant ceases to be a Service Provider as a result of the Participant’s death or Disability: (i)
the vested Options shall remain exercisable until the earlier of: (i) a period of one (1) year from the Date of Termination; or
(ii) expiration of the term of the Option as set forth in Section ‎13; and (ii) all Restricted Stock still
subject to restriction under the applicable Restriction Period, as set forth in the Award Agreement, shall be forfeited;

 

(c)          in
the event that the Participant ceases to be a Service Provider for Cause, (i) all Options will terminate immediately upon the date
of such termination for Cause, such that the unvested portion of the Options will not vest, and the vested portion of the Options
will no longer be exercisable; and (ii) all Restricted Stock still subject to restriction under the applicable Restriction Period
as of the Date of Termination, as set forth in the Award Agreement, shall be forfeited. 

 

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9.2           Date
of Termination.         For purposes of the Plan and any Option or Option Agreement,
and unless otherwise set forth in the relevant Award Agreement, the “Date of Termination”
(whether for Cause or otherwise) shall be the effective date of termination of the Participant's employment or engagement as a
Service Provider.

 

9.3           Leave
of Absence. Unless the Administrator provides otherwise, vesting of Awards granted hereunder shall be suspended during any
unpaid leave of absence.

 

9.4           Change of
Status. A Service Provider shall not cease to be considered as such in the case of any (a) leave of absence approved by the
Company, or (b) transfers between locations of the Company or between the Company, and its parent, subsidiary, affiliate, or any
successor thereof; or (c) changes in status (employee to director, employee to consultant, etc.) provided that such change does
not affect the specific terms applying to the Service Provider’s Award.

 

		10.	Adjustments.

 

Upon the occurrence
of any of the following described events, a Participant's rights to purchase Shares under the Plan shall be adjusted as hereinafter
provided:

 

10.1        Changes
in Capitalization. Subject to any required action by the stockholders of the Company, the number of Shares covered by each
outstanding Award, and the number of Shares which have been authorized for issuance under the Plan but as to which no Options or
other Award have yet been granted or which have been returned to the Plan upon cancellation or expiration of an Option or other
Award, as well as the price per Share covered by each such outstanding Option, shall be proportionately adjusted for any increase
or decrease in the number of issued Shares resulting from a share split, reverse share split, share dividend, combination or reclassification
of the Shares, or any other increase or decrease in the number of issued Shares effected without receipt of consideration by the
Company. The conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt
of consideration.” Such adjustment shall be made by the Board, whose determination in that respect shall be final, binding
and conclusive. Except as expressly provided herein, no issuance by the Company of shares of any class, or securities convertible
into shares of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price
of Shares subject to an Option or other Award.

 

10.2         Merger,
Acquisition, or Asset Sale.

 

   (a)   In
the event of (i) a merger or consolidation of the Company with or into another corporation resulting in such other corporation
being the surviving entity or the direct or indirect parent of the Company or resulting in the Company being the surviving entity
and any other person or entity owning fifty percent (50%) or more of the outstanding voting power of the Company's securities by
virtue of the transaction, (ii) an acquisition of all or substantially all of the shares of the Company, or (iii) the sale of all
or substantially all of the assets of the Company (each such event, a “Transaction”), the unexercised or restricted
portion of each outstanding Award shall be assumed or an equivalent Award or right substituted, by the successor corporation or
an affiliate of the successor corporation, as shall be determined by such entity, subject to the subsequent sentence in this Section
‎10.2‎(a) and the remaining terms of the Plan. In the event that the successor corporation or a parent or subsidiary of
the successor corporation does not provide for such an assumption or substitution of Options, the Administrator may determine,
at its sole discretion, that all or a portion of the outstanding and unvested Options shall become exercisable in full on a date
no later than ten (10) days prior to the date of consummation of the Transaction, provided that unless otherwise determined by
the Administrator, the exercise of all Options that otherwise would not have been exercisable in the absence of a Transaction,
shall be contingent upon the actual consummation of the Transaction.

 

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(b)   For the purposes
of this Section ‎10.2, an Option shall be considered assumed or substituted if, following a Transaction, the option confers
the right to purchase or receive, for each Share subject to the Option immediately prior to the Transaction, the consideration
(whether stock, cash, or other securities or property) received in the merger or sale of assets by holders of Shares of the Company
for each Share held on the effective date of the Transaction (and if holders were offered a choice of consideration, the type of
consideration determined by the Administrator, at its sole discretion); provided, however, that if the consideration received in
the Transaction is not solely common stock or ordinary shares (or the equivalent) of the successor corporation or its direct or
indirect parent, the Administrator may, with the consent of the successor corporation, provide for the per share consideration
to be received upon the exercise of the Option to be solely common stock or ordinary shares (or the equivalent) of the successor
corporation or its direct or indirect parent equal in fair market value to the per share consideration received by holders of Shares
in the Transaction, as determined by the Administrator.

 

(c)   In
the event that the Board of Directors determines in good faith that, in the context of a Transaction, certain Options have no monetary
value and thus do not entitle the holders of such Options to any consideration under the terms of the Transaction, the Board of
Directors may determine that such Options shall terminate effective as of the effective date of the Transaction.

 

(d)   It is the intention that the Administrator’s authority to make determinations, adjustments and clarifications in
connection with the treatment of Awards shall be interpreted as widely as possible, to allow the Administrator maximal power
and flexibility to interpret and implement the provisions of the Plan in the event of Transaction, provided that the
Administrator shall determine in good faith that a Participant’s rights are not thereby adversely affected without the
Participant’s express written consent. Without derogating from the generality of the foregoing, the Administrator shall
have the authority, at its sole discretion, to determine that the treatment of Options, whether vested or unvested, in a
Transaction may differ among individual Participants or groups of Participants, provided that the overall economic impact of
the different approaches determined by the Administrator shall be substantively equivalent as of the date of the closing of
the Transaction.

 

		11.	Non-Transferability
of Options and Shares.

 

11.1       No
Option may be transferred other than by will or by the laws of descent and distribution, and during the Participant's lifetime
an Option may be exercised only by such Participant.

 

11.2       Restricted
Stock may not be assigned, transferred, pledged or mortgaged, other than by will or laws of descent and distribution, prior to
the date on which the date on which any applicable restriction, performance or deferred period lapses. Shares for which full payment
has not been made, may not be assigned, transferred, pledged or mortgaged, other than by will or laws of descent and distribution.
For avoidance of doubt, the foregoing shall not be deemed to restrict the transfer of an Participant's rights in respect of Options
or Shares purchasable pursuant to the exercise thereof upon the death of such Participant to such Participant’s estate or
other successors by operation of law or will, whose rights therein shall be governed by Section 9.1(a) hereof, and as may otherwise
be determined by the Administrator. Further restrictions on the transfer of Shares are set forth below in Section 21 below.

 

		12.	Term and Amendment
of the Plan.

 

12.1         The
Plan shall expire on the date which is ten (10) years from the date of its adoption by the Board of Directors (except as to Options
outstanding on that date).

 

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12.2         Notwithstanding
any other provision of the Plan, the Board (or a duly authorized Committee thereof) may at any time, and from time to time, amend,
in whole or in part, any or all of the provisions of the Plan (including any amendment deemed necessary to ensure that the Company
may comply with any regulatory requirement), or suspend or terminate it entirely, retroactively or otherwise; provided, however,
that, except (x) to correct obvious drafting errors or as otherwise required by law or (y) as specifically provided herein, the
rights of a Participant with respect to Awards granted prior to such amendment, suspension or termination, may not be reduced
without the consent of such Participant. The Administrator may amend the terms of any Award theretofore granted, prospectively
or retroactively, but except (x) to correct obvious drafting errors or as otherwise required by law or applicable accounting rules,
or (y) as specifically provided herein, no such amendment or other action by the Committee shall reduce the rights of any Participant
with respect to Awards without the Participant’s consent.

 

		13.	Term of Option.

 

Unless otherwise
explicitly provided in an Award Agreement, if any Option, or any part thereof, has not been exercised and the Shares covered thereby
not paid for within ten (10) years after the date on which the Option was granted, as set forth in the Award Agreement (or any
other period set forth in the instrument granting such Option pursuant to Section 6), such Option, or such part thereof, and the
right to acquire such Shares shall terminate, all interests and rights of the Participant in and to the same shall expire, and,
in the event that in connection therewith any Shares are held in trust as aforesaid, such trust shall expire.

 

		14.	Continuance
of Engagement.

 

Neither the Plan
nor any offer of Shares or Options to a Participant shall impose any obligation on the Company or a related company thereof, to
continue the employment or engagement of any Participant as a Service Provider, and nothing in the Plan or in any Option granted
pursuant thereto shall confer upon any Participant any right to continue to serve as a Service Provider of the Company or a related
company thereof or restrict the right of the Company or a related company thereof to terminate such employment or engagement at
any time.

 

		15.	Governing Law.

 

The Plan and all
instruments issued thereunder or in connection therewith, shall be governed by, and interpreted in accordance with, the laws of
the State of Delaware.

 

		16.	Application
of Funds.

 

The proceeds received
by the Company from the sale of Shares pursuant to Options granted under the Plan will be used for general corporate purposes of
the Company or any related company thereof.

 

		17.	Taxes.

 

17.1         Any
tax consequences arising from the grant, or vesting or exercise of any Award, from the payment for Shares covered thereby, or from
any other event or act (of the Company, and/or its affiliates, or the Participant), hereunder, shall be borne solely by the Participant.
The Company and/or its affiliates shall withhold taxes according to the requirements under the applicable laws, rules, and regulations,
including withholding taxes at source. Furthermore, the Participant shall agree to indemnify the Company and/or its affiliates
and hold them harmless against and from any and all liability for any such tax or interest or penalty thereon, including without
limitation, liabilities relating to the necessity to withhold, or to have withheld, any such tax from any payment made to the Participant.
The Company or any of its affiliates may make such provisions and take such steps as it may deem necessary or appropriate for the
withholding of all taxes required by law to be withheld with respect to Awards granted under the Plan and the exercise thereof,
including, but not limited, to (i) deducting the amount so required to be withheld from any other amount (or Shares issuable) then
or thereafter to be provided to the Participant, including by deducting any such amount from a Participant’s salary or other
amounts payable to the Participant, to the maximum extent permitted under law and/or (ii) requiring the Participant to pay to the
Company or any of its affiliates the amount so required to be withheld as a condition of the issuance, delivery, distribution or
release of any Shares and/or (iii) by causing the exercise and sale of any Options or Shares held by on behalf of the Participant
to cover such liability, up to the amount required to satisfy minimum statutory withholding requirements. In addition, the Participant
will be required to pay any amount due in excess of the tax withheld and transferred to the tax authorities, pursuant to applicable
tax laws, regulations and rules.

 

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17.2         The
receipt of an Award and/or the acquisition of Shares issued upon the exercise of the Options may result in tax consequences. The
description of tax consequences set forth in the Plan or any Appendix hereto does not purport to be complete, up to date or to
take into account any special circumstances relating to a Participant.

 

17.3         THE
PARTICIPANT IS ADVISED TO CONSULT WITH A TAX ADVISOR WITH RESPECT TO THE TAX CONSEQUENCES OF RECEIVING OR EXERCISING ANY AWARD
IN LIGHT OF HIS OR HER PARTICULAR CIRCUMSTANCES.

 

		18.	Market Stand-Off

 

If so requested by
the Company or any representative of the underwriters (the “Managing Underwriter”) in connection with any registration
of the offering of any securities of the Company under the securities laws of any jurisdiction, the Participant shall not sell
or otherwise transfer any Shares or other securities of the Company during a 180-day period or such other period as may be requested
in writing by the Managing Underwriter and agreed to in writing by the Company (the “Market Standoff Period”)
following the effective date of registration statement of the Company filed under such securities laws. The Company may require
the Participant to execute a form of undertaking to this effect or impose stop transfer instructions with respect to securities
subject to the foregoing restrictions until the end of such Market Standoff Period.

 

		19.	Conditions
Upon Issuance of Shares.

 

19.1         Legal
Compliance. Shares shall not be issued pursuant to the exercise of an Option or with respect to any other Award unless the
exercise of such Option or grant of such Award and the issuance and delivery of such Shares shall comply with applicable laws and
shall be further subject to the approval of counsel for the Company with respect to such compliance. The inability of the Company
to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be
necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the
failure to issue or sell such Shares as to which such requisite authority shall not have been obtained.

 

19.2         
Investment Representations. As a condition to the exercise of an Option or receipt of an Award, the Board may require the person
exercising such Option or receiving such Award to represent and warrant at the time of any such exercise or the time of receipt
of the Award that the Shares are being purchased only for investment and without any present intention to sell or distribute such
Shares, and make other representations as may be required under applicable securities laws if, in the opinion of counsel for the
Company, such representations are required, all in form and content specified by the Board.

 

19.3         Legend.
The Administrator may require each person receiving Shares pursuant to an Award granted under the Plan to represent to and
agree with the Company in writing that the Participant is acquiring the shares without a view to distribution thereof and such
other securities law related representations as the Administrator shall request. In addition to any legend required by the Plan,
the certificates for such shares may include any legend which the Administrator deems appropriate to reflect any applicable restrictions
on transfer. All certificates for Shares delivered under the Plan shall be subject to such stock transfer orders and other
restrictions as the Administrator may deem advisable under the rules, regulations and other requirements of any relevant securities
authority, any stock exchange upon which the Shares are then listed or any national securities association system upon whose system
the Shares are then quoted, any applicable securities law, and any applicable corporate law, and the Administrator may cause a
legend or legends to be put on any such certificates to make appropriate reference to such restrictions.

 

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		20.	Proxy

 

The Company, at its
sole discretion, may require that as a condition of grant of an Award or of exercise of an Option, the Participant be required
to grant an irrevocable proxy to any appropriate person designated by the Company, to vote all Shares obtained by the Participant
pursuant to an Award at all general meetings of Company, and to sign all written resolutions, waivers, consents etc. of the shareholders
of the Company on behalf of the Participant, including the right to waive on behalf of the Participant all minimum notice requirements
for meetings of shareholders of the Company. Such proxy shall remain in effect until the consummation of an IPO, and shall be irrevocable
as the rights of third parties, including investors in the Company, depend upon such proxy. The proxy shall be personal to the
Participant and shall not survive the transfer of the Participant’s Shares to a third-party transferee; provided, however,
that upon a transfer of the Participant’s Shares to such a transferee (subject to the terms and conditions of the Plan concerning
any such transfer), the transferee may be required to grant an irrevocable proxy to such appropriate person as the Company, in
giving its approval to the transfer, so requires. The proxy may be contained in the Award Agreement of each Participant or otherwise
as the Committee determines. If contained in the Award Agreement, no further document shall be required to implement such proxy,
and the signature of the Participant on the Award Agreement shall indicate approval of the proxy thereby granted. The holder of
the proxy shall be indemnified and held harmless by the Company against any cost or expense (including counsel fees) reasonably
incurred by him/her, or any liability (including any sum paid in settlement of a claim with the approval of the Company) arising
out of any act or omission to act in connection with the voting of the proxy unless arising out of his/her own fraud, bad faith
or gross negligence, to the extent permitted by applicable law. Such indemnification shall be in addition to any rights of indemnification
the holder of the proxy may have as a director, officer or otherwise under the Company's Certificate of Incorporation, by laws
or any agreement, any vote of shareholders or directors, insurance policy or otherwise.

 

		21.	Additional
Restrictions on Transfers of Shares.

 

[Until such time as
the Shares are registered for trade to the public, a Participant shall not be permitted to transfer, sell, assign, pledge, hypothecate,
or otherwise encumber or dispose of in any way (for the purposes of this Section 21, a “Transfer”) to one or
more third parties pursuant to an understanding with such third parties any Shares, except as otherwise provided in this Plan,
the applicable Award Agreement or as required under applicable law.

 

		22.	Miscellaneous.

 

Whenever applicable
in the Plan, the singular and the plural, and the masculine, feminine and neuter shall be freely interchangeable, as the context
requires. The Section headings or titles shall not in any way control the construction of the language herein, such headings or
titles having been inserted solely for the purpose of simplified reference. Words such as “herein”, “hereof”,
“hereto”, “hereinafter”, “hereby”, and “hereinabove” when used in the Plan refer
to the Plan as a whole, including any applicable Appendices, unless otherwise required by context.

 

*                   *                *

 

    	11 of 11ADVISORY AGREEMENT

 

THIS AGREEMENT made this 1st day of July, 2012 (the “Effective
Date”).

 

BETWEEN:

 

Blue Sphere Corporation,
a Nevada company with a business office in Even Yehuda, Assuta Street, Israel.

 

(the “Company”)

 

AND:

 

Joshua Shoham from 18 Amir Gilboa
Street Tel Aviv, Israel.

 

(the “Advisor”)

 

WHEREAS:

 

A.           The
Company has proposed the Advisor to serve as the Strategic and Business Advisor of the Company while maintaining his role of Chairman
of the Board of Director and Director with Eastern Sphere Ltd., an Israeli fully owned subsidiary of the Company

 

B.           The
Advisor and the Company wish to formally record the terms and conditions upon which the Advisor will be hired by the Company and,
each of the Company and the Advisor, have agreed to the terms and conditions set forth in this Agreement, as evidenced by their
execution hereof; and

 

NOW THEREFORE THIS AGREEMENT WITNESSES
that, in consideration of the premises and the mutual covenants and agreements herein contained, the parties hereto covenant
and agree as follows:

 

Article 1

CONTRACT FOR SERVICES

 

		1.1	Engagement of Advisor. The Company
                                                           hereby agrees to hire the Advisor in accordance with the terms and
                                                           provisions hereof.

 

(i)          Term.
Unless terminated earlier in accordance with the provisions hereof, this Agreement will commence on the date of execution
hereof (the “Commencement Date”) and will continue for a period of Five (5) years from the Commencement Date
(the “Term”).

 

		(b)	Service. The Advisor agrees
                                                             to faithfully, honestly and diligently serve the Company and to devote
                                                             the time, attention efforts to further the business and interests
                                                             of the Company and utilize his professional skills and care during
                                                             the Term.

 

    	 

    	 

    

 

		1.2	The Company acknowledges that the advisory
                                                           services given by the Advisor are not on an exclusive basis and that
                                                           the Advisor has other business activities.

 

		1.3	Duties:

 

		(a)	The advisory services plans will
                                                             be prepared jointly by the Chief Executive Officer of the Company
                                                             and the Advisor from time to time.

 

		(b)	The Advisor will assist the Company
                                                             in the process of taking strategic decisions, in business development,
                                                             in the preparation of annual budgets, in project's appraisal, in
                                                             financial analyses and in deals' structuring. The Company will work
                                                             in full transparency with the Advisor in order to facilitate his
                                                             work as Strategic and Business Advisor and will disclose to him all
                                                             information, data, agreements that are substantial to the Company's
                                                             business and/or necessary for the Advisor's successful work.

 

Article 2

COMPENSATION

 

		2.1	Remuneration.

 

		(a)	For services rendered by the Advisor
                                                             during the Term, the Advisor will be paid a monthly remuneration,
                                                             payable within 10 days after the end of each month against an invoice,
                                                             of US$10,000 + VAT (the “Fee”). Subsequently,
                                                             the Fee will increase to a gross monthly rate of USD $15,000 + VAT.
                                                             The Fee will be paid in NIS translated pursuant to the official representative
                                                             rate of exchange of the US$ as published by the Bank of Israel on
                                                             the payment date. The Advisor acknowledges that presently the Company
                                                             doesn't have sufficient funds to pay for the advisory services and
                                                             agrees that his fees will be registered in the Company's books
                                                             as a loan given to the Company by the Advisor. Advisory fees
                                                             will be accumulated in the Company's books as loan. Advisory fees
                                                             will be paid by the Company when it will have the funds to do so,
                                                             at the same time and priority as debts that will be paid to employees
                                                             of the Company. The Advisor will have the option, at any time, to
                                                             convert the above mentioned accumulated debt, or part of it into
                                                             shares of the Company at the average traded price of the 10 days
                                                             prior to the date of the request by the Advisor to exercise this
                                                             option. This option will survive the Term of this agreement.

 

		(b)	In addition to the professional fees,
                                                             the Company will grant Advisor additional compensation in the form
                                                             of cash or shares in cases of extraordinary contribution by you to
                                                             the benefit of the Company.

 

    	2

    	 

    

 

		(c)	The Advisor’s position with
                                                             the Company requires a special degree of personal trust, and the
                                                             Company is not able to supervise the number of working hours of the
                                                             Advisor; therefore the Advisor will not be entitled to any additional
                                                             remuneration whatsoever for his work with the exception of that specifically
                                                             set out in this Agreement.

 

		2.2	Incentive Plans. The Advisor
                                                           will be entitled to participate in any bonus
                                                           plan or incentive compensation plans for its employees, adopted by
                                                           the Company.

 

		2.3	Expenses. The Advisor will be
                                                           reimbursed by the Company for all reasonable business expenses incurred
                                                           by the Advisor and pre-approved by the Company in connection with his
                                                           duties. This includes, but not only, payments of expenses incurred
                                                           when traveling abroad, per diem payments for travel abroad according
                                                           to the rules set forth by the Israeli Tax Authorities and others.

 

Article 3

Insurance and Benefits

 

		3.1	Liability Insurance Indemnification.
                                                           The Company will insure the Advisor (including his heirs, executors
                                                           and administrators) with coverage under a standard directors' and officers'
                                                           liability insurance policy at the Company's expense.

 

Article 4

CONFIDENTIALITY AND NON-COMPETITION

 

		4.1	Maintenance of Confidential Information.

 

		(a)	The Advisor acknowledges that, in
                                                             the course of advisory hereunder, the Advisor will, either directly
                                                             or indirectly, have access to and be entrusted with Confidential
                                                             Information (whether oral, written or by inspection) relating to
                                                             the Company or its respective affiliates, associates or customers.

 

		(b)	The Advisor acknowledges that the
                                                             Company’s Confidential Information constitutes a proprietary
                                                             right, which the Company is entitled to protect. Accordingly, the
                                                             Advisor covenants and agrees that, as long as he works for the Company,
                                                             the Advisor will keep in strict confidence the Company’s Confidential
                                                             Information and will not, without prior written consent of the Company,
                                                             disclose, use or otherwise disseminate the Company’s Confidential
                                                             Information, directly or indirectly, to any third party.

 

		(c)	The Advisor agrees that, upon termination
                                                             of his services for the Company, he will immediately surrender to
                                                             the Company all Company Confidential Information then in his possession
                                                             or under his control.

 

		4.2	Exceptions. The general prohibition
                                                           contained in Section 4.1 against the unauthorized disclosure, use or
                                                           dissemination of the Company’s Confidential Information will
                                                           not apply in respect of any Company Confidential Information that:

 

    	3

    	 

    

 

		(a)	is available to the public generally;

 

		(b)	becomes part of the public domain
                                                             through no fault of the Advisor;

 

		(c)	is already in the lawful possession
                                                             of the Advisor at the time of receipt of the Company’s Confidential
                                                             Information; or

 

		(d)	is compelled by applicable law to
                                                             be disclosed, provided that the Advisor gives the Company prompt
                                                             written notice of such requirement prior to such disclosure and provides
                                                             assistance at the request and expense of the Company, in obtaining
                                                             an order protecting the Company’s Confidential Information
                                                             from public disclosure.

 

		4.3	Non Competition. The Advisor
                                                           agrees and undertakes that he will not, so long as this agreement is
                                                           in force, become financially interested in or be employed by business
                                                           or venture that competes directly with the Company’s business.

 

		4.4	No Solicitation.

 

		(a)	“Customer”: For
                                                             the purposes of this Agreement, “Customer” means
                                                             any Person who is, at any time during the Term of this agreement,
                                                             a customer of the Company.

 

		(b)	The Advisor covenants and undertakes
                                                             that he will not, at any time during the Term of this Agreement for
                                                             any reason, directly or indirectly, in any way:

 

(i)          solicit,
hire or engage the services of any employee of the Company or its affiliates or persuade or attempt to persuade any such individual
to terminate his employment or relationship with the Company or any of its Affiliates;

 

(ii)         persuade
or attempt to persuade any Customer to restrict, limit or discontinue purchasing or retaining the services provided by the Company
or any of its affiliates to any such Customer or to reduce the amount of business which any such Customer has customarily done,
or contemplates doing, with the Company or any of its affiliates in respect of the Company’s business, or to solicit or
take away, or attempt to solicit or take away, from the Company or any of its affiliates any of its Customers in respect of the
Company’s business.

 

Article 5

termination

 

This agreement
may be terminated for Cause by any of the parties with a prior notice of 12 months.  Cause is defined as the Advisor conviction
of, or plea of guilty to any crime involving dishonesty, fraud or moral turpitude. During the notice period, both parties to this
Agreement will fulfil their duties and obligations under this Agreement. It is agreed that, in the event of termination of this
agreement, neither the Company, nor the Advisor will be entitled to any notice, or payment in excess of that specified in this
Article 5.

 

    	4

    	 

    

 

Article 6

Mutual Representations

 

		6.1	The Advisor represents and warrants
                                                           to the Company that the execution and delivery of this Agreement and
                                                           the fulfillment of the terms hereof

 

		(a)	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, and

 

		(b)	do not require the consent of any
                                                             person or entity.

 

		6.2	The Company represents and warrants
                                                           to the Advisor that this Agreement has been duly authorized, executed
                                                           and delivered by the Company and that the fulfillment of the terms
                                                           hereof

 

		(a)	will not constitute a default under
                                                             or conflict with any agreement of other instrument to which it is
                                                             a party or by which it is bound, and

 

		(b)	do not require the consent of any
                                                             person of entity.

 

		6.3	Each party hereto warrants and represents
                                                           to the other that this Agreement constitutes the valid and binding
                                                           obligation of such party enforceable against such party in accordance
                                                           with its terms subject to applicable bankruptcy, insolvency, moratorium
                                                           and similar laws affecting creditors' rights generally, and subject,
                                                           as to enforceability, to general principles of equity (regardless if
                                                           enforcement is sought in proceeding in equity or at law).

 

Article 7

notices

 

		7.1	Notices. All notices required
                                                           or allowed to be given under this Agreement must be made either personally
                                                           by delivery to or by facsimile transmission to the address as hereinafter
                                                           set forth or to such other address as may be designated from time to
                                                           time by such party in writing:

 

		(a)	in the case of the Company, to:

 

Blue Sphere Corporation

35 Assuta Street, Even Yehuda, Israel

   

		(b)	and in the case of the Advisor, to
                                                             the Advisors’s last residence address known to the Company.

 

    	5

    	 

    

 

		7.2	Change of Address. Any party
                                                           may, from time to time, change its address for service hereunder by
                                                           written notice to the other party in the manner aforesaid.

 

Article 8

GENERAL

 

		8.1	Further Assurances. Each party
                                                           hereto will promptly and duly execute and deliver to the other party
                                                           such further documents and assurances and take such further action
                                                           as such other party may from time to time reasonably request in order
                                                           to more effectively carry out the intent and purpose of this Agreement
                                                           and to establish and protect the rights and remedies created or intended
                                                           to be created hereby.

 

		8.2	Waiver. No provision hereof
                                                           will be deemed waived and no breach excused, unless such waiver or
                                                           consent excusing the breach is made in writing and signed by the party
                                                           to be charged with such waiver or consent. A waiver by a party of any
                                                           provision of this Agreement will not be construed as a waiver of a
                                                           further breach of the same provision.

 

		8.3	Amendments in Writing. No amendment,
                                                           modification or rescission of this Agreement will be effective unless
                                                           set forth in writing and signed by the parties hereto.

 

		8.4	Assignment. Except as herein
                                                           expressly provided, the respective rights and obligations of the Advisor
                                                           and the Company under this Agreement will not be assignable by either
                                                           party without the written consent of the other party and will, subject
                                                           to the foregoing, enure to the benefit of and be binding upon the Advisor
                                                           and the Company and their permitted successors or assigns. Nothing
                                                           herein expressed or implied is intended to confer on any person other
                                                           than the parties hereto any rights, remedies, obligations or liabilities
                                                           under or by reason of this Agreement.

 

		8.5	The Company acknowledges and agrees
                                                           that the Advisor may submit to the Company invoices from a company
                                                           that employs him in lieu of invoices on his name. The Advisor confirms
                                                           that any such invoice will replace his own invoice and he agrees that
                                                           his fees will be paid by the Company to third parties provided that
                                                           it is done as per his instructions to the Company.

 

		8.6	Severability. In the event that
                                                           any provision contained in this Agreement is declared invalid, illegal
                                                           or unenforceable by a court or other lawful authority of competent
                                                           jurisdiction, such provision will be deemed not to affect or impair
                                                           the validity or enforceability of any other provision of this Agreement,
                                                           which will continue to have full force and effect.

 

		8.7	Headings. The headings in this
                                                           Agreement are inserted for convenience of reference only and will not
                                                           affect the construction or interpretation of this Agreement.

 

    	6

    	 

    

 

		8.8	Number and Gender. Wherever
                                                           the singular or masculine or neuter is used in this Agreement, the
                                                           same will be construed as meaning the plural or feminine or a body
                                                           politic or corporate and vice versa where the context so requires.

 

		8.9	Time. Time is of the essence
                                                           in this Agreement.

 

		8.10	Governing Law.
                                                                                This Agreement will be construed and interpreted
                                                                                in accordance with the laws of the State of Israel
                                                                                applicable therein, and each of the parties hereto
                                                                                expressly attorns to the jurisdiction of the courts
                                                                                of the State of Israel. The sole and exclusive
                                                                                place of jurisdiction in any matter arising out
                                                                                of or in connection with this Agreement will be
                                                                                the applicable Tel-Aviv court.

 

IN WITNESS WHEREOF

 

the parties hereto have executed this
Agreement effective as of the date and year first above written.

 

	Per:	 	 	 
	 	Blue Sphere Corporation	 	Joshua Shoham
	 	 	 	 
	Name:	Shlomo Palas	 	 
	 	 	 	 
	Title: 	Chief Executive Officer	 	 

 

    	7

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