Document:

Exhibit 10.4.3

 

SECURITY
AGREEMENT (FIXED CHARGE)

 

Made
and executed this 29 day of December 2017

 

		WHEREAS,	the
                                         undersigned, MedyMatch Technology Ltd., a limited liability private company, no. 514972785,
                                         organized and existing under the laws of the State of Israel, with its registered office
                                         at 76 Yigal Alon, Tel Aviv, 6706701, Israel (hereinafter: the “Borrower”),
                                         intends to receive from the undersigned lenders, South Florida Biotech Ventures, LLC
                                         (“SFBV”), a limited liability company organized in the State of Florida,
                                         with its registered office at 445 W. 40th Street, Miami Beach, FL 33140, and
                                         Palladium Capital Advisors LLC, a limited liability company organized in the State of
                                         Delaware, with its registered office at 10 Rockefeller Plaza, Suite 909, New York, NY
                                         10020 (hereinafter: together, the “Lenders”), secured bridge loans
                                         convertible into shares, pursuant to, for such purpose and on such conditions as specified
                                         in the provisions of the Secured Convertible Note of each Lender issued in connection
                                         with that certain Securities Purchase Agreement (the “SPA”) entered
                                         into by and between the Lenders and the Borrower on  December 29, 2017 (hereinafter,
                                         as may be amended, modified, restated, replaced or supplemented from time to time in
                                         accordance with its terms, the “Notes”); and

 

	THEREFORE,	it
                                         has been agreed that the Borrower shall secure the repayment of the various amounts of
                                         money which the Borrower may owe and/or may be liable to the Lenders or their affiliates
                                         in connection with the Notes, all in accordance with the terms hereinafter contained.
	 	 
	 	Any
                                         terms not otherwise defined in this Security Agreement shall have the meaning attributed
                                         thereto in the Notes or the other Loan Documents (as defined in the Notes), as applicable.

 

 

NATURE
OF THE SECURITY AGREEMENT

 

		1.	This
                                         Security Agreement has been made to secure the full and punctual payment of all the sums
                                         due and to become due to the Lenders or their affiliates from the Borrower in connection
                                         with the Notes, which are payable prior to the realization of the collateral security
                                         to which this Security Agreement is applicable or subsequent thereto, whether due absolutely
                                         or contingently, directly or indirectly, unlimited in amount, together with interest,
                                         commissions, charges, fees and expenses of whatever nature, including costs of realising
                                         the collateral security, reasonable lawyers fees, insurance, stamp duty and any other
                                         payments arising from this Security Agreement and together with any nature of linkage
                                         differences due and becoming due from the Borrower to the Lenders and/or their affiliates
                                         in any manner whatsoever in respect of linked principal and interest and any other linked
                                         sum (all the foregoing sums being jointly and severally hereinafter referred to as the
                                         “Secured Sums”).

 

    

     

    

 

PLEDGE
AND FIXED CHARGE

 

		2.	As
                                         collateral security for the full and punctual payment of all of the Secured Sums (whether
                                         at stated maturity, acceleration or otherwise), and without derogating from any other
                                         security, the Borrower hereby absolutely and unconditionally charges and pledges to the
                                         Lenders and their successors by way of a first ranking fixed charge and pledge, and by
                                         an assignment by way of pledge, as applicable, all Borrower’s rights, whether now
                                         existing or thereafter created, (A) (i) in and to all copyright rights, copyright applications,
                                         copyright registrations and like protections in each work of authorship and derivative
                                         work thereof, whether published or unpublished, and whether or not the same also constitutes
                                         a trade secret, now or hereafter existing, created, acquired or held (“Copyrights”),
                                         including without limitation as specified in Appendix A attached hereto;
                                         (ii) in and to all patents, patent applications and like protections, including without
                                         limitation improvements, divisions, continuations, renewals, reissues, extensions, and
                                         continuations-in-part of the same (“Patents”), including without limitation
                                         as specified in Appendix B attached hereto; (iii) in and to all trademark
                                         and service mark rights, whether registered or not, applications to register and registrations
                                         of the same and like protections, and the entire goodwill of the business of the Borrower
                                         connected with and symbolized by such trademarks (“Trademarks”), including
                                         without limitation as specified in Appendix C attached hereto; (iv) in
                                         and to all mask works or similar rights, now owned or hereafter acquired (“Mask
                                         Works”), including, without limitation as specified in Appendix D
                                         attached hereto; (v) in and to all trade secrets and trade secret rights, including,
                                         without limitation, any rights to unpatented inventions, know-how, operating manuals;
                                         (vi) in and to all source code; (vii) in and to all design rights now or hereafter existing,
                                         created, acquired or held; (viii) in and to all claims for damages by way of past, present
                                         and future infringement of any of the foregoing, with the right, but not the obligation,
                                         to sue for and collect such damages for said use or infringement of the intellectual
                                         property rights identified above; (ix) in and to all trade secrets, and any and all intellectual
                                         property rights in computer software and computer software products now or hereafter
                                         existing, created, acquired or held; (x) in and to all amendments, extensions, renewals
                                         and extensions of any of the Copyrights, Trademarks, Patents and Mask Works; in all cases
                                         whether now owned or hereafter acquired by Borrower; (xi) in and to all licenses or other
                                         rights to use any of the Copyrights, Trademarks, Patents, or Mask Works and all license
                                         fees and royalties arising from such use to the extent permitted by such license or rights;
                                         (xii) to all proceeds and products of the foregoing, including, without limitation, all
                                         payments under insurance or any indemnity or warranty payable in respect of any of the
                                         foregoing; and (B) in and to all rights, title and interest in the stock of MedyMatch
                                         Inc., a Delaware corporation (hereinafter, (A) and (B) jointly and severally - the “Charged
                                         Property”).

 

It
is hereby agreed and acknowledged that the description of the Charged Property, including without limitations, the Customer List,
Copyrights, Patents, Trademarks, Mask Works and Equipment List, shall be amended and updated from time to time by the Borrower
as requested by the Lender Majority.

 

		3.	The
                                         pledge and charge created by operation of this Security Agreement shall apply to all
                                         and any rights to compensation or indemnity which may accrue to the Borrower by reason
                                         of the loss of, damage to or appropriation of the Charged Property.

 

		4.	Reserved.

 

DECLARATIONS
OF THE BORROWER

 

		5.	The
                                         Borrower hereby declares as follows:

 

		(a)	That
                                         the Charged Property is not charged, pledged or attached in favor of any other persons
                                         or parties other than any charge, pledge or attachment created by any Permitted Lien
                                         (as defined in the Notes), provided however, that to the extent that such Permitted
                                         Liens are specific first ranking limited-in-amount liens created by Borrower in favor
                                         of another bank or financial institution, then, with respect to each such Permitted Lien,
                                         for as long as it is in effect, the terms of this Security Agreement, including without
                                         limitation, the definition of “Charged Property” hereunder shall be construed
                                         in a manner to give full force and effect to such Permitted Liens and enable this Security
                                         Agreement to be enforced to the maximum extent possible under any applicable law.

 

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		(b)	That
                                         the Charged Property is, in its entirety, in the exclusive possession and ownership of
                                         the Borrower, or in the possession or under the control of the Lenders.

 

		(c)	That
                                         no restriction or condition of law or any agreement exists or applies to the ability
                                         of the Borrower to transfer or charge the Charged Property.

 

		(d)	That
                                         the Borrower is capable of and entitled to charge the Charged Property.

 

		(e)	That
                                         no assignment of rights or other disposition has occurred derogating from the value of
                                         the Charged Property.

 

		(f)	The
                                         Borrower has received all permits, consents and authorizations that shall be necessary
                                         or required to consummate this Security Agreement.

 

COVENANTS
OF THE BORROWER

 

		6.	The
                                         Borrower hereby covenants so long as this Security Agreement is in effect and until the
                                         Lender(s) holding the majority of the outstanding loan amounts and interest under the
                                         Notes (the “Lender Majority”) confirm in writing that this Security
                                         Agreement has been terminated in accordance with its provisions, as follows:

 

		(a)	To
                                         hold the Charged Property in accordance with the provisions of the Notes and this Security
                                         Agreement;

 

		(b)	Reserved;

 

		(c)	To
                                         use and deal with the Charged Property with a reasonable degree of care and to notify
                                         the Lenders of any case of disrepair, damage, loss, fault or defect materially affecting
                                         same, except in the event cause by reasonable wear and tear or as a result of disrepair
                                         or aging in the ordinary course of business, as long as the aforesaid wear and tear or
                                         aging, with notice or without notice or upon the expiration of time, will not cause any
                                         of the events listed in Section 13 below, and to remedy any disrepair, damage, fault
                                         or defect materially affecting the Charged Property due to use or for any other reason,
                                         and to be liable towards the Lenders for any disrepair, damage, fault or defect as aforesaid;

 

		(d)	Upon
                                         reasonable notice to Borrower, to allow any representative of the Lenders, at any time
                                         to inspect and examine, during the regular business hours of the Borrower, the condition
                                         of the Charged Property wherever the Charged Property may be situated;

 

		(e)	Upon
                                         the occurrence of and during the continuance of any of the events listed in Section 13
                                         below, upon the Lender Majority’s first demand, to deliver to the Lender Majority
                                         or to any bailee on its behalf, the Charged Property. In the event of the refusal of
                                         the Borrower to comply with the provisions of this sub-section, the Lender Majority may,
                                         upon the delivery of notice to but without the consent of the Borrower, remove the Charged
                                         Property from the Borrower’s possession and hold the same or deliver the same to
                                         a bailee on its behalf. Where the Charged Property has been so delivered to a bailee,
                                         the Lenders shall be exempt from any loss or damage which for any reason may be caused
                                         to the Charged Property;

 

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		(f)	Not
                                         to sell, assign, dispose of, hire out, let, lease or transfer any of the Charged Property
                                         and not to allow any person to do any of the foregoing acts, without the prior written
                                         consent of the Lender Majority, except as specifically permitted under the Notes, provided
                                         that nothing herein shall restrict the Borrower from licensing Charged Property in the
                                         ordinary course of its business;

 

		(g)	Not
                                         to sell, assign, transfer, let, lease, surrender, dispose of, relinquish or waive, in
                                         whole or in part, any present or future asset, claim or right of the Borrower, except
                                         as specifically permitted under the Notes;

 

		(h)	To
                                         notify the Lenders forthwith of the levying of any attachment on the Charged Property,
                                         to forthwith notify the attachor of the charge in favor of the Lenders and to take at
                                         the Borrower’s own expense immediately and without delay all such measures as are
                                         required for discharging such attachment;

 

		(i)	Not
                                         to charge or pledge in any manner or way the Charged Property by conferring any rights
                                         ranking pari-passu, prior to or deferred to the rights of the Lenders and not to make
                                         any assignment of any right which the Borrower may have in the Charged Property without
                                         receiving the prior written consent of the Lender Majority;

 

		(j)	To
                                         be liable towards the Lenders for any defect in the Borrower’s title to the Charged
                                         Property and/or any default thereunder and to bear the responsibility for the authenticity,
                                         regularity and correctness of all the signatures, endorsements and particulars of any
                                         Bills, documents, instruments and securities which have been or may be delivered to the
                                         Lenders by way of collateral security;

 

		(k)	To
                                         pay when due all taxes and compulsory payments levied against the Charged Property and/or
                                         the income accruing thereon under any law and to furnish the Lenders, at each of their
                                         request, with all the receipts for such payments. If the Borrower fails to make such
                                         payments when due, each Lender may, upon delivery to the Borrower of reasonable notice
                                         of such Lender’s intention to do so, pay the same for the account of the Borrower
                                         and debit the Borrower with the payment thereof coupled with expenses, and Interest at
                                         the Default Rate (as defined below). Such payments shall be secured by this Security
                                         Agreement;

 

		(l)	Not
                                         to wind up, liquidate or dissolve, sell, exchange, lease, transfer or otherwise dispose
                                         of all or substantially all its properties or other assets;

 

		(m)	Not
                                         to create, incur, assume or allow by any other means to be created or exist any Lien
                                         (as defined under the SPA) on any of its property, or assign or convey any right to receive
                                         income, including the sale of any Borrower accounts, or permit any of its subsidiaries
                                         to do so, or permit or allow any collateral not to be subject to the first priority security
                                         interest granted in the Notes, or the charges granted hereunder, or enter into any agreement,
                                         document, instrument or other arrangement (except with or in favor of all of the Lenders)
                                         with any Person (as defined in the Notes) which directly or indirectly prohibits or has
                                         the effect of prohibiting Borrower, or any of its subsidiaries from assigning, mortgaging,
                                         pledging, granting a security interest or charge in, over or upon, or encumbering any
                                         of Borrower’s and/or its subsidiaries’ intellectual property.

 

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		7.	The
                                         Borrower undertakes to notify the Lenders forthwith:

 

		(a)	of
                                         any claim of right to any collateral security given to the Lenders to which this Security
                                         Agreement is applicable and/or of any execution or injunction proceedings or other steps
                                         taken to attach, preserve or realise any such collateral security;

 

		(b)	of
                                         the occurrence of any of the events enumerated in Section 13 hereof;

 

		(c)	of
                                         any material reduction in value of any collateral security granted or which may be granted
                                         by the Borrower (including any default under any agreement related to the accounts of
                                         the Charged Property or the infringement of any of Borrower’s intellectual property);

 

		(d)	of
                                         any application filed for the winding-up of the Borrower’s affairs or for the appointment
                                         of a receiver over the Borrower’s assets as well as any resolution regarding any
                                         structural change in the Borrower or any intention to do so;

 

		(e)	of
                                         any change of address of the Borrower.

 

		INSURANCE	

 

		8.	Reserved.

 

		9.	All
                                         the rights of the Borrower deriving from the insurance of the Charged Property, including
                                         rights under the Property Tax and Compensation Fund Law, 5721-1961, as in force at any
                                         relevant time and under any other law, whether or not assigned to the Lenders as aforesaid,
                                         are hereby, absolutely and unconditionally, charged and pledged to the Lenders by way
                                         of a first ranking fixed charge and pledge.

 

		INTEREST	

 

		10.	The
                                         Lenders shall be entitled to calculate interest on the Secured Sums at such rate as has
                                         been or may be agreed upon from time to time between the Lenders and the Borrower according
                                         to the terms of the Notes.

 

 

REPAYMENT
DATES

 

		11.	The
                                         Borrower hereby undertakes to pay the Lenders all and any of the Secured Sums promptly
                                         on the maturity dates prescribed or which may be prescribed therefor from time to time.

 

		12.	The
                                         Lender Majority may decline to accept any prepayment of the Secured Sums or pay part
                                         thereof prior to the date of maturity thereof and the Borrower shall not be entitled
                                         to redeem all or any of the Charged Property by discharging the Secured Sums and/or any
                                         part thereof prior to their prescribed maturity dates.

 

Neither
the Borrower nor any person having a right liable to be affected by the pledges and charges hereby created or the realisation
thereof shall have any right under Section 13(b) of the Pledge Law, 5727-1967, or any other statutory provisions in substitution
therefor.

 

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		13.	Without
                                         derogating from the generality of the provisions of this Security Agreement, the Lender
                                         Majority shall be entitled to demand the immediate payment of the Secured Sums and to
                                         debit any account of the Borrower with the amount thereof in any one of the events enumerated
                                         below or in Section 8 of the Notes, in which case the Borrower undertakes to pay the
                                         Lenders (in the manner set forth in Sections 33-38 below) all of the Secured Sums, and
                                         the Lender Majority shall be entitled to take whatever steps they sees fit for the collection
                                         of the Secured Sums and to realise, at the Borrower’s expense, the Charged Property
                                         by any means allowed by law:

 

		(a)	The
                                         Borrower is in breach of any of its obligations, undertakings, representations or warranties
                                         under this Security Agreement (the foregoing shall not derogate from any right, under
                                         any law, granted to any Lender in respect of any other breach); and/or;

 

		(b)	There
                                         occurs and continues to subsist an event which gives the Lenders right to demand payment,
                                         under any document signed between the Borrower and the Lenders (including, inter alia,
                                         under the Notes and the other Loan Documents), provided that any period (if any) given
                                         to the Borrower to effect such payment under such document shall have elapsed and as
                                         long as such payment is not actually effected.

 

RIGHTS
OF THE LENDERS

 

		14.	The
                                         Lenders shall have the right of possession, lien, set-off and charge over any amounts,
                                         assets and/or rights including securities, coins, gold, banknotes, documents in respect
                                         of goods, insurance policies, Bills, assignments of rights, deposits, collaterals and
                                         their countervalue, in the possession of or under the control of the Lenders at any time
                                         for or on behalf of the Borrower, including such as have been delivered for collection,
                                         as security, for safe-keeping or otherwise. Upon the occurrence of and during the subsistence
                                         of any of the events set forth in Section 13 above, the Lenders shall be entitled to
                                         retain the said assets until payment in full of the Secured Sums or to realize said assets
                                         by selling them and applying the countervalue thereof in whole or in part toward payment
                                         of the Secured Sums.

 

		15.	The
                                         Borrower confirms that each Lenders’ books, accounts and entries shall be binding
                                         upon the Borrower, shall be deemed to be correct and shall serve as prima facie evidence
                                         against the Borrower in all their particulars, including all reference to the computation
                                         of the Secured Sums, the particulars of the Bills, guarantees and other collateral securities
                                         and any other matter related hereto.

 

		16.	Without
                                         derogating from the other provisions contained in this Security Agreement, any waiver,
                                         extension, concession, acquiescence or forbearance (hereinafter “Waiver”)
                                         on the Lenders’ part as to the non-performance, partial performance or incorrect
                                         performance of any of the Borrower’s obligations pursuant to this Security Agreement,
                                         such Waiver shall not be treated as a waiver on the part of the Lenders of any rights
                                         but as a limited consent given in respect of the specific instance. For the avoidance
                                         of doubt, any Waiver on behalf of the Lenders shall be made solely by the Lender Majority.

 

		17.	Upon
                                         the occurrence of and during the subsistence of any of the events set forth in Section
                                         13 above:

 

(a)
The Lender Majority shall be entitled to adopt all the measures it deems fit in order to recover the Secured Sums and realize
all of the Lenders’ rights hereunder, including the realization of the Charged Property, in whole or in part, and to apply
the proceeds thereof to the Secured Sums without the Lenders first being required to realize any other guarantees or collateral
securities, if such be held by the Lenders.

 

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(b) Should
the Lender Majority decide to realize securities, Bills and other negotiable instruments, in accordance with Section 4(2) of the
Pledge Law 5727-1967, then a three (3) day advance notice regarding the steps that the Lenders intends to take shall be deemed
to be reasonable advance notice for the purpose of Section 19(b) of the Pledge Law, 5727-1967, or any other statutory provisions
in substitution therefor. In the event that reasonable advance notice is required to realize the securities in the United States,
Europe or in another jurisdiction, then said three (3) advance notice period shall be deemed to be reasonable advance notice for
the purpose of the statutory provisions applicable thereto.

 

(c) As
long as the Secured Sums are not paid in full, the Lender Majority may, as agent of the Lenders, and as attorney-in-fact of the
Borrower (and, for the purpose hereof, the Borrower irrevocably appoints the Lender Majority to be their attorney-in-fact), sell
all or any of the Charged Property by public auction or otherwise, by itself or through others, for cash or instalments thereof
or otherwise, at a price and on such terms as the Lender Majority in its absolute discretion shall deem fit, and likewise the
Lender Majority may of their own accord or through the court or an execution office, realize the Charged Property or any other
property, inter alia, by appointing a receiver or receiver and manager on behalf of the Lenders, who shall be empowered,
inter alia,:

 

		(1)	to
                                         call in all or any part of the Charged Property.

 

		(2)	to
                                         carry on or to participate in the management of the business of the Borrower, as they
                                         see fit.

 

		(3)	to
                                         sell or agree to the sale of the Charged Property, in whole or in part, to dispose of
                                         same or agree to dispose of same in such other manner on such terms as they deem fit.

 

		(4)	to
                                         make such other arrangement regarding the Charged Property or any part thereof as they
                                         deem fit.

 

(d) All
income to be received by the receiver or the receiver and manager from the Charged Property as well as any proceeds to be received
by the Lenders and/or by the receiver or receiver and manager from the sale of the Charged Property or any part thereof shall
be applied to the Secured Sums pari-passu in accordance with the Lenders’ Proportionate Share.

 

		18.	Should
                                         the payment date of the Secured Sums or any part thereof not yet have fallen due at the
                                         time of the sale of the Charged Property, or the Secured Sums be due to the Lenders contingently
                                         only, then the Lenders shall be entitled to recover out of the proceeds of the sale an
                                         amount sufficient to cover the Secured Sums and the amount so recovered shall be charged
                                         to the Lenders as security for, and be held by the Lenders until the discharge in full
                                         of, the Secured Sums.

 

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NATURE
OF THE COLLATERAL SECURITY

 

		19.	The
                                         collateral securities which have been or may be given to the Lenders under this Security
                                         Agreement shall be continuing and revolving securities and shall remain in force until
                                         all Secured Sums have been fully discharged and the Lender Majority has certified in
                                         writing that this Security Agreement is terminated.

 

		20.	All
                                         collateral securities and guarantees which have been or may be given to the Lenders for
                                         payment of the Secured Sums shall be independent of one another.

 

		21.	The
                                         nature and effect of the collateral securities to which this Security Agreement is applicable
                                         shall not be affected nor shall the validity of any of the securities and obligations
                                         of the Borrower hereunder be impaired or affected by any compromise, concession, granting
                                         of time or other like release consented to by the Lenders with respect to the Borrower
                                         or by any variation in the Borrower’s obligations towards the Lenders in connection
                                         with the Secured Sums or by any release or waiver by the Lenders of any other collateral
                                         security or guarantees.

 

		22.	Upon
                                         the occurrence or during the subsistence of any of the events listed in Section 13 above,
                                         the Lenders may deposit all or any of the collaterals given or which may be given pursuant
                                         to this Security Agreement with a bailee of their own choosing, at their discretion and
                                         at the Borrower’s expense, and may substitute such bailee with another from time
                                         to time. The Lenders may register all or any of such collaterals with any competent authority
                                         in accordance with any law and/or in any public register. Actions taken under this Section
                                         22 shall be at the discretion of the Lender Majority.

 

RIGHT
OF ASSIGNMENT

 

		23.	The
                                         Lenders may at any time, at their own discretion and without the Borrower’s consent
                                         being required, and provided that the Lender Majority’s consent has been granted
                                         and the assignee agrees to the terms and conditions hereof, assign this Security Agreement
                                         and the rights arising thereunder, including the Charged Property in whole or in part
                                         and any assignee may also reassign the said rights without any further consent being
                                         required from the Borrower (subject to the same conditions as aforesaid). Such assignment
                                         may be effected by endorsement on this Security Agreement or in any other way the Lenders
                                         or any subsequent assignor deems fit. For the avoidance of doubt, the Borrower is not
                                         entitled to assign or to transfer this Security Agreement and or any rights or obligations,
                                         in whole or in part, arising pursuant to this Security Agreement.

 

NOTICE
OF OBJECTION

 

		24.	The
                                         Borrower undertakes to promptly notify the Lenders in writing of any objection or contention
                                         it may have regarding any statement of account, extract thereof, certificate or notice
                                         received by it from the Lenders including information received through any means of automatic
                                         communications. Where no such objection or contention is received by the Lenders, then
                                         the Borrower will be deemed to have confirmed the correctness thereof.

 

		EXPENSES	

 

		25.	All
                                         the expenses in connection with this Security Agreement and in any other documents signed
                                         between the Lenders and the Borrower in accordance therewith, including the fee for preparing
                                         credit and security documents, the stamping and registration of documents, and all and
                                         any expenses involved in the realization of the collateral security and institution of
                                         proceedings for collection (including fees of the Lenders’ lawyers), insurance,
                                         safe-keeping, maintenance and repair of the Charged Property shall be paid by the Borrower
                                         to the Lenders on their first demand, together with Interest at the Default Rate from
                                         the date demand was made and until payment in full, and all the above expenses together
                                         with interest thereon shall be secured by this Security Agreement until discharged in
                                         full. The Lenders may debit the Borrower with the aforesaid expenses, together with interest
                                         thereon.

 

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		TERMINATION	

 

		26.	Upon
                                         the indefeasible repayment in full of the Secured Sums or the conversion of the Secured
                                         Sums into shares in the Borrower in accordance with the terms of the Notes, this Security
                                         Agreement shall automatically terminate and be of no further force and effect; furthermore,
                                         the Lenders agree to thereupon, as expeditiously as possible, deliver all documents necessary
                                         to effect the termination of the pledge and charge created by operation of this Security
                                         Agreement, including the filings with the Israeli Companies Registrar and other applicable
                                         filings.

 

INTERPRETATION;
AMENDMENT

 

		27.	Any
                                         of the representations, warranties and covenants made by Borrower hereunder shall be
                                         in addition to, and shall not derogate in any manner from, any representations, warranties
                                         and covenants made by Borrower under the Notes or the other Loan Documents. In the event
                                         of a conflict between this Security Agreement and the Notes related to the calculation
                                         of the Secured Sums and/or any rights or available remedies of the Lenders with respect
                                         thereto (excluding the specific rights of the Lenders with respect to the creation and
                                         realization of the collateral security above), the provisions of the Notes shall prevail.

 

		28.	In
                                         this Security Agreement - (a) the singular includes the plural and vice versa; (b) the
                                         masculine gender includes the feminine gender and vice versa; (c) “Bills”
                                         means: promissory notes, bills of exchange, cheques, undertakings, guarantees, sureties,
                                         assignments, bills of lading, deposit notes and any other negotiable instruments; (d)
                                         “Interest at the Default Rate” shall be such rate as set forth in
                                         the Notes or the other Loan Documents, as applicable; (e) the headings are only indicative
                                         and are not to be used in construing this Security Agreement; (f) the recitals hereto
                                         form an integral part hereof.

 

		29.	Any
                                         term of this Security Agreement may be amended and the observance of any term hereof
                                         may be waived (either prospectively or retroactively and either generally or in a particular
                                         instance) with the written consent of the Borrower and the Lender Majority outstanding
                                         or, in the case of a waiver, by the party against whom enforcement of any such waived
                                         provision is sought (provided that any waiver by the Lenders, as a whole, shall be made
                                         by the Lender Majority); provided, however, that in the event
                                         additional Purchasers purchase Notes under the SPA at a Closing subsequent to the initial
                                         Closing, then, effective as of the date of such Closing, this Security Agreement shall
                                         be deemed to have been automatically amended to include such Purchasers as “Lenders”
                                         hereunder, and, in order to affect such amendment, the then-existing parties hereto and
                                         such Purchasers shall execute an amended agreement with the same terms as this Security
                                         Agreement, amended only to include such additional Lenders (and, for the avoidance of
                                         doubt, without changing the inter-lender provisions hereunder, including the requirement
                                         of a Lender Majority for amendments hereto).

 

		30.	To
                                         the extent required, this Security Agreement may be translated into Hebrew for the sole
                                         purpose of the registration and filing of this Security Agreement with the Israeli Registrar
                                         of Companies and/or any other relevant Israeli official registrar. Notwithstanding the
                                         aforesaid, the executed English version of this Security Agreement shall prevail and
                                         supersede for all purposes and for all respects, in the event of any discrepancy or inconsistency
                                         between the English version and the translation thereof.

 

    - 9 -

     

    

 

NOTICES
AND WARNINGS

 

		31.	

 

(a)
Each communication to be made under this Security Agreement shall be made in writing and, unless otherwise stated, may be made
also by facsimile transmission or by electronic mail.

 

(b)
Each communication or document to be made or delivered by each party to another pursuant to this Security Agreement shall (unless
that other party has by written notice, specified another address) be made or delivered to that party, addressed as follows:

 

		(i)	if
                                         to the Borrower:

 

MedyMatch
Technology Ltd.

76
Yigal Alon, Floor 5

Tel
Aviv, Israel 6706701

Phone:
972-52-3237334+

Attn.:
Michael Rosenberg, CFO

Email:
mrosenberg@medymatch.com

 

with
a copy to (which shall not constitute notice):

 

Meitar
Liquornik Geva Leshem Tal

Abba
Hillel 16

Ramat
Gan, Israel, 5250608

Phone:
972-3-610-3100+

Fax:
972-3-610-3111+

Email:
dglatt@meitar.com

 

		(ii)	if
                                         to the Lenders:

 

South
Florida Biotech Ventures, LLC

445
W. 40th Street

Miami
Beach, FL 33140

Fax:

Email:
mgman@bullhunterllc.com

 

Palladium
Capital Advisors LLC

10
Rockefeller Plaza, Suite 909

New
York, New York 10020

Fax:
(646) 390-6328.

Email:
mhartstein@palladiumcapital.com

 

with
a copy to (which shall not constitute notice):

 

Grushko
& Mittman, P.C.

515
Rockaway Avenue, Valley Stream

New
York 11581

Fax:
(212) 697-3575

Email:
ed@grushkomittman.com

 

    - 10 -

     

    

 

and
shall be deemed to have been made or delivered (a) upon the earlier of actual receipt and five (5) business days after deposit
in regular mail, first class, registered or certified mail return receipt requested, with proper postage prepaid; (b) upon transmission,
when sent by electronic mail or facsimile transmission with receipt confirmation (or if delivered not on a business day, on the
first business day following the transmission with electronic confirmation of transmission); (c) one (1) business day after deposit
with a reputable overnight courier with all charges prepaid; or (d) when delivered, if hand-delivered by messenger. The Lenders
and the Borrower may change their postal mail address, electronic mail address or facsimile by way of the delivery of a notice
in writing to the other party in accordance with the terms of this Section 31.

 

		EXECUTION	

 

		32.	This
                                         Security Agreement may be executed in two or more counterparts, all of which when taken
                                         together shall be considered one and the same agreement and shall become effective when
                                         counterparts have been signed by each party and delivered to each other party, it being
                                         understood that the parties need not sign the same counterpart. In the event that any
                                         signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf”
                                         format data file, such signature shall create a valid and binding obligation of the party
                                         executing (or on whose behalf such signature is executed) with the same force and effect
                                         as if such facsimile or “.pdf” signature page were an original thereof.

 

INTER-LENDER
PROVISIONS

 

		33.	SFBV
                                         is hereby appointed as agent of the other Lender(s) in connection with the Charged Property
                                         and this Security Agreement.

 

		34.	Irrespective
                                         of any provision of law to the contrary or the time, order or method of entry into this
                                         Security Agreement, the Lenders’ respective security interests hereunder shall
                                         rank pari-passu based on, as of a given date, each Lender’s proportionate amount
                                         of the outstanding amount of principal and interest owed to it under its respective Note,
                                         to the aggregate outstanding amount of principal and interest owed to the Lenders under
                                         the Notes (the “Proportionate Share”).

 

		35.	Upon
                                         the occurrence of and during any of the events listed in Section 13 herein, SFBV shall
                                         be entitled, at its sole discretion, and the other Lender(s) hereby appoints SFBV as
                                         their agent, to take such actions in accordance with the remedies available to the parties
                                         with respect to the Charged Property and this Security Agreement, including such actions
                                         SFBV deems necessary for the enforcement of the Security Agreement. For the avoidance
                                         of doubt, no other Lender shall be entitled to take any of the foregoing actions.

 

		36.	If,
                                         following the occurrence of any of the events listed in Section 13 herein, the Secured
                                         Sums are accelerated, or any foreclosure, sale, or other disposition or liquidation proceedings
                                         concerning the Charged Property are commenced by SFBV, all payments or amounts realized
                                         or received thereafter, which payments or amounts are secured by or derived from the
                                         Charged Property, will be shared among the Lender(s) based upon their Proportionate Share.
                                         If any Party receives any amount from the Borrower in excess of its Proportionate Share,
                                         it will hold such excess in constructive trust for the other Lender(s) and will promptly
                                         distribute such excess to the other Lender(s).

 

		37.	For
                                         the avoidance of doubt, the provisions set forth in Sections 33-38 herein are not intended
                                         to limit in any way the security rights of the Lenders in the Charged Property, insofar
                                         as the Borrower or any third parties are concerned.

 

    - 11 -

     

    

 

		38.	The
                                         Borrower may rely on any communication delivered to it by SFBV as a communication delivered
                                         in accordance with this Agreement and any notification hereunder shall only be deemed
                                         satisfied upon the notification of SFBV.

 

GOVERNING
LAW AND PLACE OF JURISDICTION

 

		39.	

		(a)	This
                                         Security Agreement shall be construed in accordance with the laws of the State of Israel
                                         except as to matters which are specifically required by the laws of a foreign jurisdiction
                                         to be governed by the laws of such jurisdiction with regard to Charged Property registered
                                         in such jurisdiction.

 

		(b)	The
                                         exclusive place of jurisdiction for the purpose of this Security Agreement is hereby
                                         established as the competent court of law in Israel situated in Tel Aviv-Jaffa; provided,
                                         however, that nothing shall be deemed to preclude the Lender Majority from bringing suit
                                         or taking other legal action in any other jurisdiction to realize on the Charged Property,
                                         or to enforce a judgment or other court order in favor of Lenders.

 

*****

 

			

    - 12 -

     

    

 

 

IN
WITNESS WHEREOF THE PARTIES HAVE CAUSED THIS SECURITY AGREEMENT (FIXED CHARGE) TO BE SIGNED ON THE DATE FIRST ABOVE WRITTEN.

 

	BORROWER:	 
	 	 
	MEDYMATCH TECHNOLOGY LTD.	 
	 	 
	/s/ Michael Rosenberg

	 
	Company Stamp /s/ MedyMatch Technology ltd.	 
	By: Michael Rosenberg	 
	Title: Chief Financial Officer	 
	 	 
	LENDERS:	 
	 	 
	SOUTH
    FLORIDA BIOTECH VENTURES, LLC	 
	 	 
	/s/ Mark Groussman

	 
	By:
    Mark Groussman	 
	Title:
    Managing Member	 
	 	 
	PALLADIUM
    CAPITAL ADVISORS LLC	 
	 	 
	/s/ Joel Padowitz

	 
	By:
    Joel Padowitz	 
	Title:
    Managing Member	 

 

    

     

    

 

Appendix
A

 

Copyrights

 

None.

 

    A-1

     

    

 

Appendix
B

 

Patents

 

	A SYSTEM AND METHOD
    FOR REAL TIME ANALYSIS OF MEDICAL IMAGING
	Country	 	Application
    No.	 	 	Filing Date	 	Registration
    Date	 	Assignee	 
	PCT	 	 	PCT/IL/2014/050467	 	 	25/05/2014	 	 	 	 	Company	 
	USA	 	 	14/894354		 	26/11/2015	 	 	 	 	Company	 
	India	 	 	10938/DELNP/2015		 	30/11/2015	 	 	 	 	Company	 
	EU	 	 	14813744.1	 	 	01/12/2015	 	 	 	 	Company	 
	Japan	 	 	P2016-518641	 	 	01/12/2015	 	 	 	 	Company	 
	Israel	 	 	242766	 	 	24/11/2015	 	31/03/2016	 	 	Company	 
	Canada	 	 	CA
                                         2913286	 	 	23/11/2015	 	13/12/2016	 	 	Company	 

 

    B-1

     

    

 

Appendix
C

 

Trademarks

  

	Country	 	 	Trademark	 	 	Serial
    #	 	 	Filing Date	 	Registration
    Date	 	Classes	 
	 	Israel	 	 	 	MedyMatch	 	 	 	289735	 	 	22/11/2016	 	02/04/2017	 	 	9,
                                         42, 44	 
	 	EUIPO	 	 	 	MedyMatch	 	 	 	016201006	 	 	23/12/2016	 	01/05/2017	 	 	9,
                                         42	 
	 	USA	 	 	 	MEDYMATCH	 	 	 	87264953	 	 	12/12/2016	 	 	 	 	9,
                                         42	 

 

    C-1

     

    

 

Appendix
D

 

Mask
Works

 

None.

 

D-1Exhibit
10.4.4

 

SECURITY
AGREEMENT (FLOATING CHARGE)

 

Made
and executed this 29 day of December 2017

 

	 	WHEREAS,	the
                                         undersigned, MedyMatch Technology Ltd., a limited liability private company, no. 514972785,
                                         organized and existing under the laws of the State of Israel, with its registered office
                                         at 76 Yigal Alon, Tel Aviv, 6706701, Israel (hereinafter: the “Borrower”),
                                         intends to receive from the undersigned lenders, South Florida Biotech Ventures, LLC
                                         (“SFBV”), a limited liability company organized in the State of Florida,
                                         with its registered office at 445 W. 40th Street, Miami Beach, FL 33140, and
                                         Palladium Capital Advisors LLC, a limited liability company organized in the State of
                                         Delaware, with its registered office at 10 Rockefeller Plaza, Suite 909, New York, NY
                                         10020 (hereinafter: together, the “Lenders”), secured bridge loans
                                         convertible into shares, pursuant to, for such purpose and on such conditions as specified
                                         in the provisions of the Secured Convertible Note of each Lender issued in connection
                                         with that certain Securities Purchase Agreement (the “SPA”) entered
                                         into by and between the Lenders and the Borrower on December 29, 2017 (hereinafter,
                                         as may be amended, modified, restated, replaced or supplemented from time to time in
                                         accordance with its terms, the “Notes”); and

 

	 	THEREFORE,	it
                                         has been agreed that the Borrower shall secure the repayment of the various amounts of
                                         money which the Borrower may owe and/or may be liable to the Lenders or their affiliates
                                         in connection with the Notes, all in accordance with the terms hereinafter contained.

 

Any
terms not otherwise defined in this Security Agreement shall have the meaning attributed thereto in the Notes or the other Loan
Documents (as defined in the Notes), as applicable.

 

NATURE
OF THE SECURITY AGREEMENT

 

		1.	This
                                         Security Agreement has been made to secure the full and punctual payment of all the sums
                                         due and to become due to the Lenders or their affiliates from the Borrower in connection
                                         with the Notes, which are payable prior to the realization of the collateral security
                                         to which this Security Agreement is applicable or subsequent thereto, whether due absolutely
                                         or contingently, directly or indirectly, unlimited in amount, together with interest,
                                         commissions, charges, fees and expenses of whatever nature, including costs of realising
                                         the collateral security, reasonable lawyers fees, insurance, stamp duty and any other
                                         payments arising from this Security Agreement and together with any nature of linkage
                                         differences due and becoming due from the Borrower to the Lenders and/or their affiliates
                                         in any manner whatsoever in respect of linked principal and interest and any other linked
                                         sum (all the foregoing sums being jointly and severally hereinafter referred to as the
                                         “Secured Sums”).

 

    

     

    

 

THE
CHARGE

 

		2.	As
                                         collateral security for the full and punctual payment of all of the Secured Sums (whether
                                         at stated maturity, acceleration or otherwise), the Borrower hereby absolutely and unconditionally
                                         charges in favor of the Lenders and their successors by way of a first ranking floating
                                         charge, all of the Borrower’s property, assets and rights, now or at any time belonging
                                         to or acquired by the Borrower and the profits and benefits derived therefrom, including
                                         without derogating from the generality of the aforementioned, the property, assets and
                                         rights set forth below (hereinafter together, the “Assets Subject to a Floating
                                         Charge”):

 

		(a)	All
                                         the assets, monies, property and rights of any kind whatsoever without exception, whether
                                         now or hereafter at any time in the future owned by or in the possession of the Borrower
                                         in any manner or way whatsoever (including, for the avoidance of any doubt, and without
                                         limitation, all accounts, license and royalty fees and other revenues, proceeds, or income
                                         arising out of or relating to any Intellectual Property Rights);

 

		(b)	All
                                         the current assets, without exception, now or hereafter at any time in the future owned
                                         by or in the possession of the Borrower in any manner or way whatsoever, the expression
                                         ‘current assets’ meaning all the assets, monies, property and rights of any
                                         kind with the exception of land, buildings and fixtures;

 

		(c)	All
                                         the fixed assets now or hereafter at any time in the future owned, belonging to, acquired
                                         by or in possession of the Borrower in any manner or way whatsoever, the expression ’fixed
                                         assets’ to include, inter alia, equipment, land, buildings, fixtures and
                                         fittings and fixed plant and machinery thereon;

 

		(d)	All
                                         the stocks, shares, debentures, bonds, notes, instruments, Bills drawn or made by others,
                                         securities and other documents or instruments of any kinds owned by the Borrower and/or
                                         which the Borrower has any right in connection thereto or is entitled to give instructions
                                         to sell now and at any time in the future, held by the Lenders and/or by others and/or
                                         any rights in respect thereof;

 

		(e)	All
                                         rights in land and/or all contractual rights under agreements between the Borrower and
                                         the Israel Lands Administration and/or the Israel Development Authority and/or the Jewish
                                         National Fund and/or any other parties, now or hereafter existing at any time whatsoever.

 

		3.	As
                                         further collateral security for the full and punctual payment of all of the Secured Sums,
                                         the Borrower hereby absolutely and unconditionally pledges and charges to the Lenders
                                         and their successors by way of a first ranking fixed pledge and charge the uncalled and/or
                                         called but unpaid share capital of the Borrower and the reputation and goodwill of the
                                         Borrower, as presently and in the future at any time existing (hereinafter, the “Charged
                                         Assets”).

 

		4.	As
                                         further collateral security for the full and punctual payment of all of the Secured Sums,
                                         the Borrower hereby absolutely and unconditionally assigns to the Lenders by way of first
                                         ranking fixed charge and pledge all rights, claims and remedies of the Borrower, including
                                         without limitation, any right to exemptions, relief, or reduction under and deriving
                                         from the Income Tax Ordinance [New Version], 5721-1961 and/or the Land Appreciation Tax
                                         Law, 5723-1963 and/or the Property Tax and Compensation Fund Law, 5721-1961 and/or any
                                         other applicable law (hereinafter, the “Charged Rights”).

 

    - 1 -

     

    

 

		5.	As
                                         further collateral security for the full and punctual payment of all the Secured Sums,
                                         the Borrower hereby, absolutely and unconditionally, pledges and charges to the Lenders
                                         all securities, documents and instruments, Bills drawn or made by others which the Borrower
                                         has delivered or may deliver to the Lenders from time to time whether for collection,
                                         safekeeping or otherwise (hereinafter, the “Charged Documents”) and
                                         upon the delivery thereof shall be and be deemed pledged and charged to the Lenders by
                                         way of a first ranking fixed pledge and charge according to the terms of this Security
                                         Agreement, the provisions of which, mutatis mutandis, shall apply to the charge
                                         and pledge thereof. The Lenders shall be exempt from taking any action whatsoever in
                                         connection with the Charged Documents and shall not be liable for any loss or damage
                                         which may be caused in connection therewith and the Borrower undertakes to indemnify
                                         the Lenders in any event that the Lenders are sued for any such loss or damage by others.

 

The
Borrower hereby waives in advance any defense based on prescription in relation to the Charged Documents.

 

		6.	The
                                         Assets Subject to a Floating Charge, the Charged Assets, the Charged Rights and the Charged
                                         Documents shall be hereinafter called the “Charged Property”.

 

The
pledge and charge created by operation of this Security Agreement shall apply to all and any rights to compensation or indemnity
which may accrue to the Borrower by reason of the loss of, damage to or appropriation of the Charged Property.

 

DECLARATIONS
OF THE BORROWER

 

		7.	The
                                         Borrower hereby declares as follows:

 

		(a)	That
                                         the Charged Property is not charged, pledged or attached in favor of any other persons
                                         or parties other than any charge, pledge or attachment created by any Permitted Lien
                                         (as defined in the Notes), provided however, that to the extent that such Permitted
                                         Liens are specific first ranking limited-in-amount liens created by Borrower in favor
                                         of another bank or financial institution, then, with respect to each such Permitted Lien,
                                         for as long as it is in effect, the terms of this Security Agreement, including without
                                         limitation, the definition of “Charged Property” hereunder shall be construed
                                         in a manner to give full force and effect to such Permitted Liens and enable this Security
                                         Agreement to be enforced to the maximum extent possible under any applicable law.

 

		(b)	That
                                         the Charged Property is, in its entirety, in the exclusive possession and ownership of
                                         the Borrower, or in the possession or under the control of the Lenders.

 

		(c)	That
                                         no restriction or condition of law or any agreement exists or applies to the ability
                                         of the Borrower to transfer or charge the Charged Property.

 

		(d)	That
                                         the Borrower is capable of and entitled to charge the Charged Property.

 

		(e)	That
                                         no assignment of rights or other disposition has occurred derogating from the value of
                                         the Charged Property.

 

		(f)	The
                                         Borrower has received all permits, consents and authorizations that shall be necessary
                                         or required to consummate this Security Agreement.

 

    - 2 -

     

    

 

COVENANTS
OF THE BORROWER

 

		8.	The
                                         Borrower hereby covenants so long as this Security Agreement is in effect and until the
                                         Lender(s) holding the majority of the outstanding loan amounts and interest under the
                                         Notes (the “Lender Majority”) confirm in writing that this Security
                                         Agreement has been terminated in accordance with its provisions, as follows:

 

		(a)	To
                                         hold the Charged Property in accordance with the provisions of the Notes and this Security
                                         Agreement;

 

		(b)	Reserved;

 

		(c)	To
                                         use and deal with the Charged Property with a reasonable degree of care and to notify
                                         the Lenders of any case of disrepair, damage, loss, fault or defect materially affecting
                                         same, except in the event cause by reasonable wear and tear or as a result of disrepair
                                         or aging in the ordinary course of business, as long as the aforesaid wear and tear or
                                         aging, with notice or without notice or upon the expiration of time, will not cause any
                                         of the events listed in Section 15 below, and to remedy any disrepair, damage, fault
                                         or defect materially affecting the Charged Property due to use or for any other reason,
                                         and to be liable towards the Lenders for any disrepair, damage, fault or defect as aforesaid;

 

		(d)	Upon
                                         reasonable notice to Borrower, to allow any representative of the Lenders, at any time
                                         to inspect and examine, during the regular business hours of the Borrower, the condition
                                         of the Charged Property wherever the Charged Property may be situated;

 

		(e)	Upon
                                         the occurrence of and during the continuance of any of the events listed in Section 15
                                         below, upon the Lender Majority’s first demand, to deliver to the Lender Majority
                                         or to any bailee on its behalf, the Charged Property. In the event of the refusal of
                                         the Borrower to comply with the provisions of this sub-section, the Lender Majority may,
                                         upon the delivery of notice to but without the consent of the Borrower, remove the Charged
                                         Property from the Borrower’s possession and hold the same or deliver the same to
                                         a bailee on its behalf. Where the Charged Property has been so delivered to a bailee,
                                         the Lenders shall be exempt from any loss or damage which for any reason may be caused
                                         to the Charged Property;

 

		(f)	To
                                         notify the Lenders forthwith of the levying of any attachment on the Charged Property,
                                         to forthwith notify the attachor of the charge in favor of the Lenders and to take at
                                         the Borrower’s own expense immediately and without delay all such measures as are
                                         required for discharging such attachment;

 

		(g)	Not
                                         to charge or pledge in any manner or way the Charged Property by conferring any rights
                                         ranking pari-passu, prior to or deferred to the rights of the Lenders and not to make
                                         any assignment of any right which the Borrower may have in the Charged Property without
                                         receiving the prior written consent of the Lender Majority;

 

		(h)	To
                                         be liable towards the Lenders for any defect in the Borrower’s title to the Charged
                                         Property and/or any default thereunder and to bear the responsibility for the authenticity,
                                         regularity and correctness of all the signatures, endorsements and particulars of any
                                         Bills, documents, instruments and securities which have been or may be delivered to the
                                         Lenders by way of collateral security;

 

    - 3 -

     

    

 

		(i)	To
                                         pay when due all taxes and compulsory payments levied against the Charged Property and/or
                                         the income accruing thereon under any law and to furnish the Lenders, at each of their
                                         request, with all the receipts for such payments. If the Borrower fails to make such
                                         payments when due, each Lender may, upon delivery to the Borrower of reasonable notice
                                         of such Lender’s intention to do so, pay the same for the account of the Borrower
                                         and debit the Borrower with the payment thereof coupled with expenses, and Interest at
                                         the Default Rate (as defined below). Such payments shall be secured by this Security
                                         Agreement;

 

		(j)	Not
                                         to wind up, liquidate or dissolve, sell, exchange, lease, transfer or otherwise dispose
                                         of all or substantially all its properties or other assets;

 

		(k)	Reserved;

 

		(l)	Not
                                         to create, incur, assume or allow by any other means to be created or exist any Lien
                                         (as defined under the SPA) on any of its property, or assign or convey any right to receive
                                         income, including the sale of any Borrower accounts, or permit any of its subsidiaries
                                         to do so, or permit or allow any collateral not to be subject to the first priority security
                                         interest granted in the Notes, or the charges granted hereunder, or enter into any agreement,
                                         document, instrument or other arrangement (except with or in favor of all of the Lenders)
                                         with any Person (as defined in the Notes) which directly or indirectly prohibits or has
                                         the effect of prohibiting Borrower, or any of its subsidiaries from assigning, mortgaging,
                                         pledging, granting a security interest or charge in, over or upon, or encumbering any
                                         of Borrower’s and/or its subsidiaries’ intellectual property.

 

		9.	The
                                         Borrower undertakes to notify the Lenders forthwith:

 

		(a)	of
                                         any claim of right to any collateral security given to the Lenders to which this Security
                                         Agreement is applicable and/or of any execution or injunction proceedings or other steps
                                         taken to attach, preserve or realise any such collateral security;

 

		(b)	of
                                         the occurrence of any of the events enumerated in Section 15 hereof;

 

		(c)	of
                                         any material reduction in value of any collateral security granted or which may be granted
                                         by the Borrower (including any default under any agreement related to the accounts of
                                         the Charged Property or the infringement of any of Borrower’s intellectual property);

 

		(d)	of
                                         any application filed for the winding-up of the Borrower’s affairs or for the appointment
                                         of a receiver over the Borrower’s assets as well as any resolution regarding any
                                         structural change in the Borrower or any intention to do so;

 

		(e)	of
                                         any change of address of the Borrower.

 

INSURANCE

 

		10.	Reserved.

 

		11.	All
                                         the rights of the Borrower deriving from the insurance of the Charged Property, including
                                         rights under the Property Tax and Compensation Fund Law, 5721-1961, as in force at any
                                         relevant time and under any other law, whether or not assigned to the Lenders as aforesaid,
                                         are hereby, absolutely and unconditionally, charged and pledged to the Lenders by way
                                         of a first ranking fixed charge and pledge.

 

    - 4 -

     

    

 

INTEREST

 

		12.	The
                                         Lenders shall be entitled to calculate interest on the Secured Sums at such rate as has
                                         been or may be agreed upon from time to time between the Lenders and the Borrower according
                                         to the terms of the Notes.

 

REPAYMENT
DATES

 

		13.	The
                                         Borrower hereby undertakes to pay the Lenders all and any of the Secured Sums promptly
                                         on the maturity dates prescribed or which may be prescribed therefor from time to time.

 

		14.	The
                                         Lender Majority may decline to accept any prepayment of the Secured Sums or pay part
                                         thereof prior to the date of maturity thereof and the Borrower shall not be entitled
                                         to redeem all or any of the Charged Property by discharging the Secured Sums and/or any
                                         part thereof prior to their prescribed maturity dates.

 

Neither
the Borrower nor any person having a right liable to be affected by the pledges and charges hereby created or the realisation
thereof shall have any right under Section 13(b) of the Pledge Law, 5727-1967, or any other statutory provisions in substitution
therefor.

 

		15.	Without
                                         derogating from the generality of the provisions of this Security Agreement, the Lender
                                         Majority shall be entitled to demand the immediate payment of the Secured Sums and to
                                         debit any account of the Borrower with the amount thereof in any one of the events enumerated
                                         below or in Section 8 of the Notes, in which case the Borrower undertakes to pay the
                                         Lenders (in the manner set forth in Sections 35-40 below) all of the Secured Sums, and
                                         the Lender Majority shall be entitled to take whatever steps they sees fit for the collection
                                         of the Secured Sums and in particular to crystallise the floating charge on the Assets
                                         Subject to a Floating Charge as provided in Section 19(a) hereof and to realise, at the
                                         Borrower’s expense, the Charged Property by any means allowed by law:

 

		(a)	The
                                         Borrower is in breach of any of its obligations, undertakings, representations or warranties
                                         under this Security Agreement (the foregoing shall not derogate from any right, under
                                         any law, granted to any Lender in respect of any other breach); and/or;

 

		(b)	There
                                         occurs and continues to subsist an event which gives the Lenders right to demand payment,
                                         under any document signed between the Borrower and the Lenders (including, inter alia,
                                         under the Notes and the other Loan Documents), provided that any period (if any) given
                                         to the Borrower to effect such payment under such document shall have elapsed and as
                                         long as such payment is not actually effected.

 

RIGHTS
OF THE LENDERS

 

		16.	The
                                         Lenders shall have the right of possession, lien, set-off and charge over any amounts,
                                         assets and/or rights including securities, coins, gold, banknotes, documents in respect
                                         of goods, insurance policies, Bills, assignments of rights, deposits, collaterals and
                                         their countervalue, in the possession of or under the control of the Lenders at any time
                                         for or on behalf of the Borrower, including such as have been delivered for collection,
                                         as security, for safe-keeping or otherwise. Upon the occurrence of and during the subsistence
                                         of any of the events set forth in Section 15 above, the Lenders shall be entitled to
                                         retain the said assets until payment in full of the Secured Sums or to realize said assets
                                         by selling them and applying the countervalue thereof in whole or in part toward payment
                                         of the Secured Sums.

 

    - 5 -

     

    

 

		17.	The
                                         Borrower confirms that each Lenders’ books, accounts and entries shall be binding
                                         upon the Borrower, shall be deemed to be correct and shall serve as prima facie evidence
                                         against the Borrower in all their particulars, including all reference to the computation
                                         of the Secured Sums, the particulars of the Bills, guarantees and other collateral securities
                                         and any other matter related hereto.

 

		18.	Without
                                         derogating from the other provisions contained in this Security Agreement, any waiver,
                                         extension, concession, acquiescence or forbearance (hereinafter “Waiver”)
                                         on the Lenders’ part as to the non-performance, partial performance or incorrect
                                         performance of any of the Borrower’s obligations pursuant to this Security Agreement,
                                         such Waiver shall not be treated as a waiver on the part of the Lenders of any rights
                                         but as a limited consent given in respect of the specific instance. For the avoidance
                                         of doubt, any Waiver on behalf of the Lenders shall be made solely by the Lender Majority.

 

		19.	Upon
                                         the occurrence of and during the subsistence of any of the events set forth in Section
                                         15 above:

 

		(a)	The
                                         Lender Majority shall be entitled to notify the Borrower of the crystallisation immediately
                                         or on a date specified by the Lender Majority of the floating charge over the Charged
                                         Property or any part thereof and to adopt all the measures it deems fit in order to recover
                                         the Secured Sums and realize all of the Lenders’ rights hereunder, including the
                                         realization of the Charged Property, in whole or in part, and to apply the proceeds thereof
                                         to the Secured Sums without the Lenders first being required to realize any other guarantees
                                         or collateral securities, if such be held by the Lenders.

		 	 

		(b)	Should
                                         the Lender Majority decide to realize securities, Bills and other negotiable instruments,
                                         in accordance with Section 4(2) of the Pledge Law 5727-1967, then a three (3) day advance
                                         notice regarding the steps that the Lenders intends to take shall be deemed to be reasonable
                                         advance notice for the purpose of Section 19(b) of the Pledge Law, 5727-1967, or any
                                         other statutory provisions in substitution therefor. In the event that reasonable advance
                                         notice is required to realize the securities in the United States, Europe or in another
                                         jurisdiction, then said three (3) advance notice period shall be deemed to be reasonable
                                         advance notice for the purpose of the statutory provisions applicable thereto.

		 	 

		(c)	As
                                         long as the Secured Sums are not paid in full, the Lender Majority may, as agent of the
                                         Lenders, and as attorney-in-fact of the Borrower (and, for the purpose hereof, the Borrower
                                         irrevocably appoints the Lender Majority to be their attorney-in-fact), sell all or any
                                         of the Charged Property by public auction or otherwise, by itself or through others,
                                         for cash or instalments thereof or otherwise, at a price and on such terms as the Lender
                                         Majority in its absolute discretion shall deem fit, and likewise the Lender Majority
                                         may of their own accord or through the court or an execution office, realize the Charged
                                         Property or any other property, inter alia, by appointing a receiver or receiver
                                         and manager on behalf of the Lenders, who shall be empowered, inter alia,:

 

		(1)	to
                                         call in all or any part of the Charged Property.

 

    - 6 -

     

    

 

		(2)	to
                                         carry on or to participate in the management of the business of the Borrower, as they
                                         see fit.

 

		(3)	to
                                         sell or agree to the sale of the Charged Property, in whole or in part, to dispose of
                                         same or agree to dispose of same in such other manner on such terms as they deem fit.

 

		(4)	to
                                         make such other arrangement regarding the Charged Property or any part thereof as they
                                         deem fit.

 

		(d)	All
                                         income to be received by the receiver or the receiver and manager from the Charged Property
                                         as well as any proceeds to be received by the Lenders and/or by the receiver or receiver
                                         and manager from the sale of the Charged Property or any part thereof shall be applied
                                         to the Secured Sums pari-passu in accordance with the Lenders’ Proportionate Share.

 

		20.	Should
                                         the payment date of the Secured Sums or any part thereof not yet have fallen due at the
                                         time of the sale of the Charged Property, or the Secured Sums be due to the Lenders contingently
                                         only, then the Lenders shall be entitled to recover out of the proceeds of the sale an
                                         amount sufficient to cover the Secured Sums and the amount so recovered shall be charged
                                         to the Lenders as security for, and be held by the Lenders until the discharge in full
                                         of, the Secured Sums.

 

NATURE
OF THE COLLATERAL SECURITY

 

		21.	The
                                         collateral securities which have been or may be given to the Lenders under this Security
                                         Agreement shall be continuing and revolving securities and shall remain in force until
                                         all Secured Sums have been fully discharged and the Lender Majority has certified in
                                         writing that this Security Agreement is terminated.

 

		22.	All
                                         collateral securities and guarantees which have been or may be given to the Lenders for
                                         payment of the Secured Sums shall be independent of one another.

 

		23.	The
                                         nature and effect of the collateral securities to which this Security Agreement is applicable
                                         shall not be affected nor shall the validity of any of the securities and obligations
                                         of the Borrower hereunder be impaired or affected by any compromise, concession, granting
                                         of time or other like release consented to by the Lenders with respect to the Borrower
                                         or by any variation in the Borrower’s obligations towards the Lenders in connection
                                         with the Secured Sums or by any release or waiver by the Lenders of any other collateral
                                         security or guarantees.

 

		24.	Upon
                                         the occurrence or during the subsistence of any of the events listed in Section 15 above,
                                         the Lenders may deposit all or any of the collaterals given or which may be given pursuant
                                         to this Security Agreement with a bailee of their own choosing, at their discretion and
                                         at the Borrower’s expense, and may substitute such bailee with another from time
                                         to time. The Lenders may register all or any of such collaterals with any competent authority
                                         in accordance with any law and/or in any public register. Actions taken under this Section
                                         24 shall be at the discretion of the Lender Majority.

 

    - 7 -

     

    

 

RIGHT
OF ASSIGNMENT

 

		25.	The
                                         Lenders may at any time, at their own discretion and without the Borrower’s consent
                                         being required, and provided that the Lender Majority’s consent has been granted
                                         and the assignee agrees to the terms and conditions hereof, assign this Security Agreement
                                         and the rights arising thereunder, including the Charged Property in whole or in part
                                         and any assignee may also reassign the said rights without any further consent being
                                         required from the Borrower (subject to the same conditions as aforesaid). Such assignment
                                         may be effected by endorsement on this Security Agreement or in any other way the Lenders
                                         or any subsequent assignor deems fit. For the avoidance of doubt, the Borrower is not
                                         entitled to assign or to transfer this Security Agreement and or any rights or obligations,
                                         in whole or in part, arising pursuant to this Security Agreement.

 

NOTICE
OF OBJECTION

 

		26.	The
                                         Borrower undertakes to promptly notify the Lenders in writing of any objection or contention
                                         it may have regarding any statement of account, extract thereof, certificate or notice
                                         received by it from the Lenders including information received through any means of automatic
                                         communications. Where no such objection or contention is received by the Lenders, then
                                         the Borrower will be deemed to have confirmed the correctness thereof.

 

EXPENSES

 

		27.	All
                                         the expenses in connection with this Security Agreement and in any other documents signed
                                         between the Lenders and the Borrower in accordance therewith, including the fee for preparing
                                         credit and security documents, the stamping and registration of documents, and all and
                                         any expenses involved in the realization of the collateral security and institution of
                                         proceedings for collection (including fees of the Lenders’ lawyers), insurance,
                                         safe-keeping, maintenance and repair of the Charged Property shall be paid by the Borrower
                                         to the Lenders on their first demand, together with Interest at the Default Rate from
                                         the date demand was made and until payment in full, and all the above expenses together
                                         with interest thereon shall be secured by this Security Agreement until discharged in
                                         full. The Lenders may debit the Borrower with the aforesaid expenses, together with interest
                                         thereon.

 

TERMINATION

 

		28.	Upon
                                         the indefeasible repayment in full of the Secured Sums or the conversion of the Secured
                                         Sums into shares in the Borrower in accordance with the terms of the Notes, this Security
                                         Agreement shall automatically terminate and be of no further force and effect; furthermore,
                                         the Lenders agree to thereupon, as expeditiously as possible, deliver all documents necessary
                                         to effect the termination of the pledge and charge created by operation of this Security
                                         Agreement, including the filings with the Israeli Companies Registrar and other applicable
                                         filings.

 

INTERPRETATION;
AMENDMENT

 

		29.	Any
                                         of the representations, warranties and covenants made by Borrower hereunder shall be
                                         in addition to, and shall not derogate in any manner from, any representations, warranties
                                         and covenants made by Borrower under the Notes or the other Loan Documents. In the event
                                         of a conflict between this Security Agreement and the Notes related to the calculation
                                         of the Secured Sums and/or any rights or available remedies of the Lenders with respect
                                         thereto (excluding the specific rights of the Lenders with respect to the creation and
                                         realization of the collateral security above), the provisions of the Notes shall prevail.

 

    - 8 -

     

    

 

		30.	In
                                         this Security Agreement - (a) the singular includes the plural and vice versa; (b) the
                                         masculine gender includes the feminine gender and vice versa; (c) “Bills”
                                         means: promissory notes, bills of exchange, cheques, undertakings, guarantees, sureties,
                                         assignments, bills of lading, deposit notes and any other negotiable instruments; (d)
                                         “Interest at the Default Rate” shall be such rate as set forth in
                                         the Notes or the other Loan Documents, as applicable; (e) the headings are only indicative
                                         and are not to be used in construing this Security Agreement; (f) the recitals hereto
                                         form an integral part hereof.

 

		31.	Any
                                         term of this Security Agreement may be amended and the observance of any term hereof
                                         may be waived (either prospectively or retroactively and either generally or in a particular
                                         instance) with the written consent of the Borrower and the Lender Majority outstanding
                                         or, in the case of a waiver, by the party against whom enforcement of any such waived
                                         provision is sought (provided that any waiver by the Lenders, as a whole, shall be made
                                         by the Lender Majority); provided, however, that in the event
                                         additional Purchasers purchase Notes under the SPA at a Closing subsequent to the initial
                                         Closing, then, effective as of the date of such Closing, this Security Agreement shall
                                         be deemed to have been automatically amended to include such Purchasers as “Lenders”
                                         hereunder, and, in order to affect such amendment, the then-existing parties hereto and
                                         such Purchasers shall execute an amended agreement with the same terms as this Security
                                         Agreement, amended only to include such additional Lenders (and, for the avoidance of
                                         doubt, without changing the inter-lender provisions hereunder, including the requirement
                                         of a Lender Majority for amendments hereto).

 

		32.	To
                                         the extent required, this Security Agreement may be translated into Hebrew for the sole
                                         purpose of the registration and filing of this Security Agreement with the Israeli Registrar
                                         of Companies and/or any other relevant Israeli official registrar. Notwithstanding the
                                         aforesaid, the executed English version of this Security Agreement shall prevail and
                                         supersede for all purposes and for all respects, in the event of any discrepancy or inconsistency
                                         between the English version and the translation thereof.

 

NOTICES
AND WARNINGS

 

33.

 

		(a)	Each
                                         communication to be made under this Security Agreement shall be made in writing and,
                                         unless otherwise stated, may be made also by facsimile transmission or by electronic
                                         mail.

		 	 

		(b)	Each
                                         communication or document to be made or delivered by each party to another pursuant to
                                         this Security Agreement shall (unless that other party has by written notice, specified
                                         another address) be made or delivered to that party, addressed as follows:

 

		(i)	if
                                         to the Borrower:

 

MedyMatch
Technology Ltd.

76
Yigal Alon, Floor 5

Tel
Aviv, Israel 6706701

Phone:
972-52-3237334+

Attn.:
Michael Rosenberg, CFO

Email:
mrosenberg@medymatch.com

 

    - 9 -

     

    

 

with
a copy to (which shall not constitute notice):

 

Meitar
Liquornik Geva Leshem Tal

Abba
Hillel 16

Ramat
Gan, Israel, 5250608

Phone:
972-3-610-3100+

Fax:
972-3-610-3111+

Email:
dglatt@meitar.com

 

		(ii)	if
                                         to the Lenders:

 

South
Florida Biotech Ventures, LLC

445
W. 40th Street

Miami
Beach, FL 33140

Fax:

Email:
mgman@bullhunterllc.com

 

Palladium
Capital Advisors LLC

10
Rockefeller Plaza, Suite 909

New
York, New York 10020

Fax:
(646) 390-6328.

Email:
mhartstein@palladiumcapital.com

 

with
a copy to (which shall not constitute notice):

 

Grushko
& Mittman, P.C.

515
Rockaway Avenue, Valley Stream

New
York 11581

Fax:
(212) 697-3575

Email:
ed@grushkomittman.com

 

and
shall be deemed to have been made or delivered (a) upon the earlier of actual receipt and five (5) business days after deposit
in regular mail, first class, registered or certified mail return receipt requested, with proper postage prepaid; (b) upon transmission,
when sent by electronic mail or facsimile transmission with receipt confirmation (or if delivered not on a business day, on the
first business day following the transmission with electronic confirmation of transmission); (c) one (1) business day after deposit
with a reputable overnight courier with all charges prepaid; or (d) when delivered, if hand-delivered by messenger. The Lenders
and the Borrower may change their postal mail address, electronic mail address or facsimile by way of the delivery of a notice
in writing to the other party in accordance with the terms of this Section 33.

 

EXECUTION

 

		34.	This
                                         Security Agreement may be executed in two or more counterparts, all of which when taken
                                         together shall be considered one and the same agreement and shall become effective when
                                         counterparts have been signed by each party and delivered to each other party, it being
                                         understood that the parties need not sign the same counterpart. In the event that any
                                         signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf”
                                         format data file, such signature shall create a valid and binding obligation of the party
                                         executing (or on whose behalf such signature is executed) with the same force and effect
                                         as if such facsimile or “.pdf” signature page were an original thereof.

 

    - 10 -

     

    

 

INTER-LENDER
PROVISIONS

 

		35.	SFBV
                                         is hereby appointed as agent of the other Lender(s) in connection with the Charged Property
                                         and this Security Agreement.

 

		36.	Irrespective
                                         of any provision of law to the contrary or the time, order or method of entry into this
                                         Security Agreement, the Lenders’ respective security interests hereunder shall
                                         rank pari-passu based on, as of a given date, each Lender’s proportionate amount
                                         of the outstanding amount of principal and interest owed to it under its respective Note,
                                         to the aggregate outstanding amount of principal and interest owed to the Lenders under
                                         the Notes (the “Proportionate Share”).

 

		37.	Upon
                                         the occurrence of and during any of the events listed in Section 15 herein, SFBV shall
                                         be entitled, at its sole discretion, and the other Lender(s) hereby appoints SFBV as
                                         their agent, to take such actions in accordance with the remedies available to the parties
                                         with respect to the Charged Property and this Security Agreement, including such actions
                                         SFBV deems necessary for the enforcement of the Security Agreement. For the avoidance
                                         of doubt, no other Lender shall be entitled to take any of the foregoing actions.

 

		38.	If,
                                         following the occurrence of any of the events listed in Section 15 herein, the Secured
                                         Sums are accelerated, or any foreclosure, sale, or other disposition or liquidation proceedings
                                         concerning the Charged Property are commenced by SFBV, all payments or amounts realized
                                         or received thereafter, which payments or amounts are secured by or derived from the
                                         Charged Property, will be shared among the Lender(s) based upon their Proportionate Share.
                                         If any Party receives any amount from the Borrower in excess of its Proportionate Share,
                                         it will hold such excess in constructive trust for the other Lender(s) and will promptly
                                         distribute such excess to the other Lender(s).

 

		39.	For
                                         the avoidance of doubt, the provisions set forth in Sections 35-40 herein are not intended
                                         to limit in any way the security rights of the Lenders in the Charged Property, insofar
                                         as the Borrower or any third parties are concerned.

 

		40.	The
                                         Borrower may rely on any communication delivered to it by SFBV as a communication delivered
                                         in accordance with this Agreement and any notification hereunder shall only be deemed
                                         satisfied upon the notification of SFBV.

 

GOVERNING
LAW AND PLACE OF JURISDICTION

 

		41.	

		(a)	This
                                         Security Agreement shall be construed in accordance with the laws of the State of Israel
                                         except as to matters which are specifically required by the laws of a foreign jurisdiction
                                         to be governed by the laws of such jurisdiction with regard to Charged Property registered
                                         in such jurisdiction.

 

		(b)	The
                                         exclusive place of jurisdiction for the purpose of this Security Agreement is hereby
                                         established as the competent court of law in Israel situated in Tel Aviv-Jaffa; provided,
                                         however, that nothing shall be deemed to preclude the Lender Majority from bringing suit
                                         or taking other legal action in any other jurisdiction to realize on the Charged Property,
                                         or to enforce a judgment or other court order in favor of Lenders.

 

*****

 

    - 11 -

     

    

 

IN
WITNESS WHEREOF THE PARTIES HAVE CAUSED THIS SECURITY AGREEMENT (FLOATING CHARGE) TO BE SIGNED ON THE DATE FIRST ABOVE WRITTEN.

 

 

	BORROWER:	 
	 	 
	MEDYMATCH TECHNOLOGY LTD.	 
	 	 
	/s/ Michael Rosenberg	 
	Company Stamp /s/ MedyMatch Technology ltd.

	 
	By: Michael Rosenberg	 
	Title: Chief Financial Officer	 

  

LENDERS:

 

SOUTH
FLORIDA BIOTECH VENTURES, LLC

 

	/s/ Mark Groussman	 
	By:
    Mark Groussman	 
	Title:
    Managing Member	 

 

PALLADIUM
CAPITAL ADVISORS LLC

 

	/s/ Joel Padowitz	 
	By:
    Joel Padowitz	 
	Title:
    Managing Member	 

 

 

- 12 -

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