Document:

Exhibit 4.3

 

Itamar Medical Ltd.

 

ISRAELI EQUITY
INCENTIVE PLAN 2016

 

As adopted by the Board
of Directors on January 21, 2016

 

 

		1.	Purpose

 

This Itamar Medical Ltd. 2016
Equity Incentive Plan (the "Plan") is intended to promote the interests of Itamar Medical Ltd. (the “Company”)
and its shareholders by providing employees, directors, officers, and advisors of the Company or any Affiliate with appropriate
incentives and rewards to encourage them to enter into and continue in the employ of, or service to, the Company or any Affiliate
and to acquire a proprietary interest in the long-term success of the Company. The Plan is designed to enable Israeli employees,
directors and officers of the Company or any Affiliate to benefit from the provisions of Section 102 of the Israeli Income Tax
Ordinance [New Version], 1961, as amended, and any regulations, rules, orders or procedures promulgated thereunder.

 

		2.	Definitions

 

As used in the Plan, the following definitions shall
apply to the terms indicated below:

 

	“Administrator”	means
    (i) the Board of Directors, or (ii) the Committee, to the extent acting in accordance with this Plan or any specific authorization
    and guidelines provided by the Board of Directors for such purpose and subject to any restriction under applicable law.
	 	 
	“Affiliate”	means any entity
    (a) with respect to which the Company is an “employing company” within the meaning of Section 102(a) of the Ordinance;
    and (b) is approved by the Administrator as an Affiliate to which the terms of this Plan apply.
	 	 
	“Approved
    102 Grant ”	means a Grant granted
    pursuant to Section 102(b) of the Ordinance and held in trust by a Trustee for the benefit of the Participant.
	 	 
	“Capital Gain
    Grant (CGG)”	means an Approved
    102 Grant elected and designated by the Company to qualify under the capital gain tax treatment in accordance with the provisions
    of Section 102(b)(2) of the Ordinance.
	 	 
	“Cashless Formula ”	means the following
    formula:
	 	 
	 	X =     A
    x (B - C)    
	 	B
	 	A = the number of
    vested Options the Participant requests to exercise as written in the Notice of Exercise;
	 	B = the closing
    price of an Ordinary Share on the Stock Exchange, on the last trading day before the Notice Date (as defined in Section 8.1.6
    below), as such closing price is published by the Stock Exchange;
	 	C= the Option Exercise
    Price.
	 	X= the number of
    shares to be issued to the participant following the cashless exercise of the Options.

 

     

    

    

 

	“Cashless Options
”	shall have the meaning set forth in Section 8.3 (i)(y) or (ii) below. 
	 	 
	“Cause”	when used in connection with the termination of a Participant's employment or service by the Company or any Affiliate, shall mean (a) the willful and continued failure by the Participant to perform his duties (including the duty of care and the fiduciary duty as set forth in the Companies Law) and obligations to the Company or any Affiliate (other than any such failure resulting from Retirement or Disability, as hereinafter defined or any such failure approved by the Company, subject to applicable law); or (b) the willful engaging by the Participant in misconduct which is injurious to the Company or any Affiliate, provided, however, that in relation to employees or officers of the Company or any Affiliate, in each case the actions or omissions of the Participant are sufficient to deny the Participant severance payment under the Severance Payment Law, 1963.
	 	 
	“Commencement
Date”	with respect to the vesting schedule of an Option or an RSU or the earning schedule of a Restricted Share, shall be the Grant Date, unless another date for the commencement of the vesting or earning schedule with respect to such Option, RSU or Restricted Share has been set by the Administrator and written in the Grant Instrument.
	 	 
	“Committee”	shall mean the Compensation Committee of the Company's Board of Directors (as may be re-named by the Board of Directors or any committee that will replace it by law or by resolution of the Board of Directors).
	 	 
	“Companies
Law”	shall mean the Israeli Companies Law, 1999 and all regulations promulgated thereunder, as may be amended from time to time.
	 	 
	“Company”	shall mean Itamar Medical Ltd., a company incorporated under the laws of the State of Israel.
	 	 
	“Compensation Policy”	The Compensation Policy, if any, as adopted or amended from time to time by the Company, pursuant to Section 267A of the Companies Law.
	 	 
	“Controlling Shareholder”	shall have the meaning ascribed to such term in Section 102.
	 	 
	“Corporate Transaction”	shall have the meaning set forth in Section 3.2.6 below.
	 	 
	 “Disability”	shall mean any physical or mental condition that prevents the Participant from continuing,
for a period of six (6) consecutive months or nine (9) months in any twelve months period, to work in his position or in a comparable
one in the Company or the employing Affiliate (as the case may be) or prevents the Participant from continuing to provide services
to the Company or such Affiliate for the above said period, provided that if the Participant is a party to an employment or similar
agreement with the Company or an Affiliate and such agreement contains a definition of “Disability”, the definition
contained in such agreement shall replace the above definition with respect to such Participant only. Determination of a Disability
shall be made in consultation with a physician selected by the Administrator and shall be finally and conclusively determined
by the Administrator at its absolute discretion.

 

    	 	2	 

    

    

 

	“Effective Date”	means January 21, 2016 the date on which the Board of Directors first approved the Plan.
	 	 
	“Employee”	means a person who is employed by the Company or any of its Affiliates, including an individual who is serving as a director or an office holder all as defined in Section 102, who is not a Controlling Shareholder.
	 	 
	“Exercise Date”	shall have the meaning set forth in Section 11 below.
	 	 
	“Exercise Period”	shall have the meaning set forth in Section 8.1.3 and 8.3.3 below, as the case may be. For the purpose of this Plan, the term "Exercise Period" shall be interpreted to include any extensions to the Exercise Period, as detailed in Section 21 below.
	 	 
	“Grant”	means the grant hereunder of any Granted Security, granted to a Participant pursuant to this Plan, whether granted singly, in combination or in tandem (each, individually referred to as a “Grant”).
	 	 
	“Grant Date”	of a Granted Security means the date
    on which the Board of Directors resolves to grant such Granted Security, unless another future date is specified by the Board
    of Directors; provided, that, if further approvals are required for the granting of a Granted Security, the
    Grant Date shall mean the date that the last required approval for the grant of such Granted Security shall have been obtained,
    unless specified otherwise in the Grant Instrument.
	 	 
	“Grant Instrument”	shall have the meaning set forth in Section 7.2 below.
	 	 
	“Granted Security”	Any Option, Restricted Share, RSU or any other security granted to a Participant pursuant to this Plan, whether granted singly, in combination or in tandem .
	 	 
	“ITA”	means Israel Tax Authority.
	 	 
	“Non- Employee” 	means a person who is not an Employee
of the Company or its Affiliates.
	 	 
	“Option”	shall mean an option to purchase one or more Ordinary Shares granted pursuant to this Plan.
	 	 
	“Option Exercise Price”	shall have the meaning set forth in Section 8.1.1 below as may be adjusted from time to time in accordance with Sections 3.2 or 8.1.1 below.

 

    	 	3	 

    

    

 

	“Ordinary Income
Grant (OI G)”	means an Approved 102 Grant elected and designated by the Company to qualify under the ordinary income tax treatment in accordance with the provisions of Section 102(b)(1) of the Ordinance.
	 	 
	“102 Grant”	means any Grant granted pursuant to Section 102 of the Ordinance.
	 	 
	“3(i) Grant”	means a Grant granted pursuant to Section 3(i) of the Ordinance.
	 	 
	“Ordinary Shares”
	shall mean ordinary shares of the Company, par value NIS 0.01 each.
	 	 
	“Participant”	shall mean an Employee or a Non-Employee to whom a Grant is granted pursuant to the Plan, and, upon his death or legal incapacity, his successors, heirs, executors and administrators, as the case may be.
	 	 
	“Plan”	shall mean this Itamar Medical Ltd. 2016 Israeli Equity Incentive Plan, as may be amended from time to time.
	 	 
	"Restricted Share”	means an Ordinary Share issued or transferred to a Participant pursuant to Section 8.2 below, which is subject to restrictions or limitations set forth in this Plan and in the related Grant Instrument.
	 	 
	"RSU"	means a right to receive one Ordinary Share granted to a Participant pursuant to Section 8.3 below, which is subject to restrictions or limitations set forth in this Plan and in the related Grant Instrument.
	 	 
	“Restriction Period”	shall have the meaning set forth in Section 8.2.2 below.
	 	 
	“Retirement”	shall mean the actual termination of a Participant's employment with or service to the Company or the Affiliate employing him as a result of his reaching the earlier of: (a) the legal age for retirement and (b) the age for retirement identified in his employment or service agreement.
	 	 
	“Section 3(i)”	means Section 3(i) of the Ordinance and any regulations, rules, orders or procedures promulgated thereunder as now in effect or as hereafter amended.
	 	 
	“Section 102”	means Section 102 of the Ordinance and any regulations, rules, orders or procedures promulgated thereunder as now in effect or as hereafter amended.
	 	 
	“Section 102 Rules”	means the Income Tax Rules (Tax Relief for Issuance of Shares to Employees), 2003 as now in effect or as hereafter amended.
	 	 
	"Stock Exchange"	shall mean the Tel Aviv Stock Exchange Ltd. provided however that if the Company's shares will be listed on the NASDAQ or the NYSE, than Stock Exchange shall mean NASDAQ or the NYSE, as applicable, unless the Administrator determined, in its sole discretion, otherwise.
	 	 
	“Tax Ordinance” or “Ordinance”	shall mean the Israeli Income Tax Ordinance [New Version], 1961, as amended, and any regulations, rules, orders or procedures promulgated thereunder.

 

    	 	4	 

    

    

 

	“Trustee”	means any individual appointed by the Company to serve as a trustee and approved by the ITA, all in accordance with the provisions of Section 102(a) of the Ordinance.
	 	 
	“Termination Date”	The date which falls twenty (20) years after the Effective Date, or such other date that will be specified in the Grant Instrument.
	 	 
	“Unapproved 102 Grant”	means a Grant granted pursuant to Section 102(c) of the Ordinance and not held in trust by a Trustee.

 

Reference to the  male person is done for convenience
purposes only and also applies to the female person.

 

		3.	Shares Subject to the Plan

 

		3.1.	Canceled.

 

		3.2.	Adjustments. Upon the occurrence of any of the following
events, provided that the record date for such event will take place after the Grant Date but prior to the exercise or expiration
of the Options or RSUs, a Participant’s rights under any Grant granted hereunder shall be adjusted as hereinafter provided:

 

		3.2.1.	Recapitalization.

 

In the event the Shares are
subdivided or combined into a greater or smaller number of shares of the Company or if, upon a reorganization, recapitalization
or the like, the Shares are exchanged for other securities of the Company the Administrator may resolve, in its sole and absolute
discretion, on one of the following adjustments or any combination of the two:

 

		(i)	each Participant shall be entitled, upon exercising a vested
Option or a vested RSU, subject to the conditions herein stated, to purchase or receive such greater or smaller number of Shares
or amount of other securities of the Company as were exchangeable, for the number of Shares of the Company which such Participant
would have been entitled to purchase or receive following such subdivision, combination or exchange in order to prevent diminution
or enlargement of the benefits or potential benefits intended to be made available under this Plan;

 

		(ii)	With respect to Options and RSUs, appropriate adjustments shall be made in the Exercise Price to
reflect such subdivision, combination or exchange.

 

		3.2.2.	Bonus
                                         Shares.

 

In the event the Company distributes
bonus shares, each Participant upon exercising such Option or RSU shall be issued by the Company (for the exercise price payable
upon such exercise, if any), the Ordinary Shares as to which he is exercising his Option or RSU and, in addition thereto (at no
additional cost), such number of shares of the class or classes in which such bonus shares were distributed, on the same terms
and conditions as offered to the other shareholders, which he would have received if he had been the holder of the Ordinary Shares
as to which he is exercising his Option or RSU at all times between the date of issuance of such Option or RSU on behalf of a Participant
in the name of the Trustee and the date of its exercise. In such event, the Exercise Price per Option or RSU (if any) will be reduced
by the ratio of the bonus shares distribution (i.e., the number of bonus shares distributed divided by the total number
of Ordinary Shares immediately following the said distribution of bonus shares).

 

    	 	5	 

    

    

 

	 	Y=	R*X *(MP-       EP)/MP
	 	 	R
	 	 	 
	Y	 	The number of shares issued upon the exercise of options or RSUs following the issuance of bonus shares.
	 	 	 
	X	 	Number of Options or RSUs.
	 	 	 
	R	 	The result of: (i) the total number of Ordinary Shares immediately following the distribution of bonus shares; divided by (ii) the total number of Ordinary Shares immediately prior to the distribution of bonus shares.
	 	 	 
	MP	 	The price of an Ordinary Share on the Stock Exchange immediately following the distribution of bonus shares.
	 	 	 
	EP	 	Original Exercise Price

 

For illustration purposes only, in the event the Company granted
100 Options to a Participant at an Exercise Price of NIS 55 per Option, and following that the Company distributed bonus shares
at a 1:1 ratio while the price of an Ordinary Share on the Stock Exchange prior to the distribution of the bonus shares was NIS
80 and immediately following such distribution of bonus shares was NIS 40, then upon the cashless exercise of such Options immediately
following the distribution of bonus shares, the number of Exercise Shares issued to the Participant would be 62 Ordinary Shares
pursuant to the following calculation:

 

[200 x (40-27.5)/40] = 62.5

 

The number of Exercise Shares resulting as of the said distribution
shall be 62 Ordinary Shares only as no fractional shares will be issued.

 

		3.2.3.	Rights Offering.

 

Options and RSUs

 

In the event of a rights
offering conducted by the Company, the number of Ordinary Shares issued as a result of the exercise of Options or RSUs shall
be adjusted to the benefit component (“markiv hahatava” in Hebrew) in the rights offering as reflected in the
ratio between the closing price of an Ordinary Share on the Stock exchange on the last trading prior to the ex-day and the
basis price of an Ordinary Share on the Stock exchange ex-rights. Notwithstanding the above, the Exercise Price shall not be
reduced in any event to less than the higher of: (i) nominal value of an Ordinary Shares; (ii) minimum exercise price
according to the Stock Exchange by laws (if and to the extent that the Stock Exchange by laws indeed imposes such a
limitation on such an issuance of Ordinary Shares).

 

    	 	6	 

    

    

 

Restricted Shares

 

In the event of a rights offering conducted by the Company to
its shareholders, the Trustee will sell on the Rights Trading Day on the Stock Exchange (as such term is defined in the rights
offering document) all the rights received for all Restricted Shares that have not vested by the record date determined for such
rights offering (including). The consideration received by the Trustee from such sale (the "Consideration") will
be allocated among all said unvested Restricted Shares pro rata. Upon release of any Restricted Shares from the Trustee
to a Participant in accordance with the terms of this Plan, the Trustee will transfer to the Participant also such portion of the
Consideration allocated for such released Restricted Shares. Consideration for Restricted Shares that were returned to the Company
pursuant to the terms of this Plan will be transferred to the Company together with such Restricted Shares. For the avoidance of
doubt, Participants who were granted Restricted Shares which have vested prior to or on the record date and are held by the trustee
may participate in the rights offering as any other shareholder of the Company and may instruct the Trustee to act accordingly.

 

		3.2.4.	Dividend

 

Options and RSUs

 

In the event the Company distributes
cash dividends, then the Option Exercise Price for each Ordinary Share underlying such Option (whether vested or not as at the
relevant record date), not exercised prior to such record date, shall be reduced, as of the record date determining the right to
receive such dividend, by the gross dividend amount so distributed per Ordinary Share.

 

In any event, the Option Exercise Price shall not
be reduced to less than the higher of: (i) the par value of an Ordinary Share; (ii) minimum exercise price according to the Stock
Exchange by laws (if and to the extent that the Stock Exchange by laws indeed imposes such a limitation on such an issuance of
Ordinary Shares).

 

Restricted Shares

 

In the event the Company distributes cash dividends,
the Trustee will hold such dividend amounts with respect to any Restricted Shares held by the Trustee on the record date for such
dividend distribution. Upon release of any Restricted Shares from the Trustee to a Participant in accordance with the terms of
this Plan, the Trustee will transfer to the Participant also the dividends accumulated for such Restricted Shares (at a nominal
value). In the event Restricted Shares are returned to the Company pursuant to the terms of this Plan, the Trustee will also transfer
to the Company the dividend amount accumulated for such Restricted Shares (at a nominal value) together with such Restricted Shares.

 

RSUs

 

In the event the Company distributes cash dividends, the number
of Ordinary Shares issued as a result of the exercise of RSUs shall be adjusted to the benefit component in the dividend as reflected
in the ratio between the closing price of an Ordinary Share on the Stock Exchange on the last trading prior to the ex-day and the
basis price of an Ordinary Share on the Stock Exchange ex-dividend.

 

    	 	7	 

    

    

 

		3.2.5.	Liquidation; Winding Up.

 

Unless otherwise resolved
by the Administrator, in the event of the proposed dissolution or liquidation of the Company which is not within the
framework of a Corporate Transaction, all outstanding Granted Securities, except for vested Granted Securities that do not
require the Participants to exercise them, will terminate immediately prior to the consummation of such proposed action. In
such case, the Administrator may, but is not obliged to, declare that any Granted Securities shall terminate as of a date
fixed by the Administrator and give each Participant the right to exercise his/her Granted Securities or have it vested,
including Granted Securities that would not otherwise vest or be exercisable.

 

In the event of an effective
resolution being proposed for the voluntary winding-up of the Company (herein after in this Section 3.2.5 "Resolution"),
which is not within the framework of a Corporate Transaction, the Administrator shall notify the Participant of the said Resolution
as soon as practicable, but not less than 14 working days, prior to the effective date of such voluntary liquidation. Any Participant
may, subject to the provisions of all applicable laws, by notice in writing to the Company at any time prior to the effective date
of such voluntary liquidation, exercise his vested Options or vested RSUs (to the extent not already exercised) either to its full
extent or to the extent specified in such Notice of Exercise in accordance with the provisions of Section 8.1.5 or Section 8.3.4
below (as the case may be) and shall accordingly be entitled, in respect of the Ordinary Shares to be issued upon the exercise
of his or her vested Option or vested RSUs, to participate in the distribution of the assets of the Company available in liquidation
pari passu with the holders of the outstanding Ordinary Shares. Restricted Shares earned at the time the voluntary winding-up
resolution is passed, would be automatically treated in the same manner as all other Ordinary Shares of the Company .

 

		3.2.6.	Merger; Consolidation; Reorganization.

 

In the event of a sale of all of the Company's outstanding
share capital, merger, consolidation, reorganization, recapitalization, going private (i.e. the Company's shares are no longer
listed for trade on a stock exchange) or similar event or transaction (a “Corporate Transaction”), the Administrator,
in its sole and absolute discretion, shall decide upon any of the following: (i) if and how the unvested Granted Securities, as
the case may be, shall be canceled, exchanged, assumed, replaced, repurchased, cashed out amended or vested and exercised; (ii)
if and how vested Granted Securities (including Granted Securities with respect to which the vesting period has been accelerated)
shall be exercised, exchanged, assumed, repurchased, cashed out replaced, amended and/or sold by the Trustee or the Company (as
the case may be) on behalf of the Participants; (iii) how Underlying Shares granted under the trust tracks and held by the Trustee
on behalf of 102 Participants shall be replaced, exchanged, repurchased cashed out or sold by the Trustee on behalf of these Participant,
and (iv) how any treatment of Granted Securities and underlying Shares may be made subject to any payment or escrow arrangement,
or any other arrangement determined within the scope of the Merger Transaction in relation to Awards and Underlying Shares of the
Company.

 

    	 	8	 

    

    

 

In the case of assumption or substitution of Granted
Securities, appropriate adjustments shall be made so as to reflect such action and all other terms and conditions of the Grant
Instrument shall remain unchanged, including but not limited to the vesting schedule. The grant of any substitutes for the Granted
Securities to Participants further to a Corporate Transaction, as provided in this section, shall be considered to be in full compliance
with the terms of this Plan. The value of the exchanged Granted Securities pursuant to this section shall be determined based on
the price of the Company's shares in the Corporate Transaction (such price to be determined by the Administrator in its sole discretion).

 

For the purposes of this Section, the mechanism for determining
the assumption or exchange as aforementioned shall be agreed upon between the Administrator and the successor company.

 

Without derogating from the above, in the event of a Corporate
Transaction the Administrator shall be entitled, at its sole discretion, to require the Participants to exercise all vested Granted
Securities within a set time period and sell all of their Shares on the same terms and conditions as applicable to the other shareholders
selling their Company’s Shares as part of the Corporate Transaction. Each Participant acknowledges and agrees that the Administrator
shall be entitled, subject to any applicable law, to authorize any one of its members to sign share transfer deeds in customary
form in respect of the shares held by such Participant and that such share transfer deed shall bind the Participant.

 

Despite the aforementioned and for the avoidance of any doubt,
if and when the method of treatment of Granted Securities within the scope of a Corporate Transaction, as provided above, shall
in the sole opinion of the Administrator prevent the consummation of the Corporate Transaction, or materially risk the consummation
of the Corporate Transaction, the Administrator may determine different treatment for different Granted Securities held by Participants
such that not all Granted Securities will be treated equally within the scope of the Corporate Transaction.

 

The Participants shall execute any documents required by the
Company or any Successor Company or parent of affiliate thereof in order to affect any of the actions determined within the scope
of this Section 3.2.6 The failure to execute any such document may cause the expiration and cancellation of any Granted Securities
held by such Participant, as determined by the Administrator in its sole and absolute discretion.

 

If there has been any alteration in the capital structure of
the Company as referred to in this Section 3.2, the Company shall, upon receipt of a Notice of Exercise (pursuant to Section 8.1.5
or 8.3.4 below, as applicable) inform the Participant of such alteration and shall inform the Participant of the adjustment to
be made.

 

Without derogating from the above, an appropriate adjustments
shall be made in the number and other pertinent elements of any outstanding Restricted Shares or RSUs, with respect to which restrictions
have not yet lapsed prior to any such change.

 

The Administrator shall determine the specific adjustments to
be made in accordance with this Section 3 and with the rules and regulations of any stock exchange applicable from time to time
to the Company, by reason of their applicability to its shareholders or otherwise. A determination made in accordance with this
Section 3 shall be conclusive and binding on the Participants.

 

    	 	9	 

    

    

 

		4.	Granting of Granted Securities

 

		4.1.	The persons eligible for participation in the Plan as Participants
shall include any Employees or Non-Employees of the Company or of any Affiliate; provided, however, that (i) Employees may only
be granted 102 Grants and (ii) Non-Employees may only be granted 3(i) Grants.

 

		4.2.	The Company may designate Grants granted to Employees pursuant
to Section 102 as Unapproved 102 Grants or Approved 102 Grants.

 

		4.3.	The grant of Approved 102 Grants shall be made under this
Plan adopted by the Board of Directors.

 

		4.4.	Approved 102 Grants may either be classified as Capital
Gain Grants (“CGGs”) or Ordinary Income Grants (“OIGs”).

 

		4.5.	No Approved 102 Grants may be granted under this Plan to
any eligible Employee, unless and until the Company’s election of the type of Approved 102 Grants as CGG or OIG granted
to Employees (the “Election”), is appropriately filed with the ITA. Such Election shall become effective beginning
on the first Grant Date of an Approved 102 Grant under this Plan and shall remain in effect at least until the end of the year
following the year during which the Company first granted Approved 102 Grants (under this Plan or previous plans). The Election
shall obligate the Company to grant only the type of Approved 102 Grant it has elected, and shall apply to all Participants
who were granted Approved 102 Grants during the period indicated herein, all in accordance with the provisions of Section 102(g)
of the Ordinance. For the avoidance of doubt, such Election shall not prevent the Company from granting Unapproved 102 Grants
and/or 3(i) Grants simultaneously.

 

		4.6.	All Approved 102 Grants must be held in trust by a Trustee,
as described in Section 10 below.  

For the avoidance of doubt, the designation of Unapproved 102 Grants and Approved 102 Grants
shall be subject to the terms and conditions set forth in Section 102.

 

		5.	Administration of the Plan

 

		5.1.	Administrator. The Plan shall be administered by
the Administrator.

 

		5.2.	Authority of Administrator. The Administrator has
the authority, at its sole discretion, subject to any applicable law and regulations and consistent with the express provisions
of the Plan, to administer the Plan and to exercise all the powers and authorities either specifically granted to it under the
Plan or necessary or advisable in the administration of the Plan including, without limitation, the authority at its discretion
to (A) with respect to Options - determine the persons to whom Options are granted, the number of shares covered by each Option,
the time or times at which Options are granted, the Commencement Date and the Option Exercise Price, and any other term to be
included in the Grant Instrument which is permitted by the Plan; and (B) with respect to Restricted Shares and RSUs - determine
the persons to whom Restricted Shares or RSUs are granted, the number of Restricted Shares or RSUs awarded, the Commencement Date,
the price (if any) to be paid by the Participant for such Restricted Share or for the exercise of the RSUs (unless specified otherwise
in the Grant Instrument, the price will be zero), and any other term to be included in the Grant Instrument which is permitted
by the Plan. The Administrator has also the discretion to determine the performance targets of the Company and any of its Affiliates,
or any other criteria, if any, which must be met to remove any restriction (including vesting or earning period) on such Grant
and any other term, limitation, restriction, and condition of the Options, Restricted Shares or RSUs, which shall be consistent
with this Plan. The provisions of Options, Restricted Shares or RSUs need not be the same with respect to each Participant.

 

    	 	10	 

    

    

 

The Administrator also has the
power and authority to determine whether, to what extent, and under what circumstances an Option, an RSU or a Restricted Share
may be settled, canceled, exercised, forfeited, exchanged, accelerated, surrendered or returned to the Company; to construe and
interpret the Plan and any Grant Instrument and Granted Security; and to make all other determinations deemed necessary or advisable
for the administration of the Plan.

 

		5.3.	Interpretation and Construction. The interpretation
and construction by the Administrator of any provision of the Plan or of any Grant Instrument or Granted Securities thereunder
shall be final and conclusive.

 

		5.4.	Acceleration and Other Amendments. Save and except
for the provisions in Section 6 below whereupon the Administrator shall comply with the provisions therein, the Administrator
may, at its sole and absolute discretion, accelerate the date on which any Granted Security granted or earned under the Plan becomes
exercisable or earned, accelerate any Restriction Period, waive or amend the operation of Plan provisions respecting exercise
(or earning) after termination of employment, re-price the Option Exercise Price or the price (if any) payable for Restricted
Shares or RSUs, make the Granted Securities subject to the Plan in its form at the time of such waiver or amendment, or otherwise
amend any of the terms of any Grant Instrument or Granted Securities, subject to the provisions of the Tax Ordinance, provided,
however, that no such waiver or amendment shall adversely affect any Participant's rights under any outstanding Grant Instrument
or Granted Security under the Plan without the consent of such Participant.

 

		6.	Acceleration of vesting

 

The Administrator, in its
sole discretion, may decide to add a provision in certain Grant Instruments, according to which under certain circumstances, all
or some of the unvested Grant Securities, shall automatically accelerate.

 

		7.	Grants under the Plan; Grant Instrument

 

		7.1.	Eligible Grantees. Granted Securities may be granted to any Employee or Non- Employee of
the Company or any Affiliate selected by the Administrator. The grant of a Granted Security to a Participant shall neither entitle
such Participant to, nor disqualify him from, receiving any other grants of Granted Securities pursuant to the Plan or participating
in any other share option plan or other incentive plan. Any grant of Granted Securities under the Plan shall be in compliance with
the requirements under applicable laws and regulations (including any stock exchange rules), including by reason of their applicability
to the Company’s shareholders or otherwise.

 

		7.2.	Grant Instrument. Each Granted Security granted under the Plan shall be evidenced by a written
instrument signed by the Company and accepted in writing by the Participant which shall be accompanied by a copy of this Plan and
shall contain such provisions as the Administrator, at its sole discretion, may deem necessary or desirable (the "Grant
Instrument"). By accepting a Granted Security, a Participant thereby agrees that the Granted Security shall be subject
to all the terms and provisions of this Plan and the applicable Grant Instrument. Unless otherwise determined by the Administrator,
no payment is required to be made by a Participant on acceptance of an Option. Unless otherwise determined by the Administrator
in the Grant Instrument, no payment is required to be made by the Participant upon acceptance of Restricted Shares or RSUs. The
Grant Instrument shall also state the type of Granted Security granted thereunder (whether an Option, Restricted Share or RSU and
whether a CGG, OIG, Unapproved 102 Grant or a 3(i) Grant).

 

    	 	11	 

    

    

 

		8.	Granted Securities

 

		8.1.	Options

 

		8.1.1.	Exercise Price. The Administrator shall determine
the exercise price per Ordinary Share and whether or not it will be linked to a certain index or currency ("Option Exercise
Price"), subject to applicable law, regulations and guidelines. Unless otherwise provided in the Grant Instrument, the
Option Exercise Price shall be paid in NIS.

 

With respect to Cashless Options, the Option Exercise
Price per share set forth in the Grant Instrument (as adjusted from time to time) will not represent the actual amount to be paid
by the Participant to the Company for said Cashless Options, but will only be used for the purpose of calculating and determining
the number of Ordinary Shares to be issued to the Participant as the result of the exercise of a Cashless Option pursuant to the
Cashless Formula.

 

		8.1.2.	Vesting Schedule. The vesting schedule of Options
will be determined by the Administrator in its sole discretion and will be detailed in the Grant Instrument.

 

The vesting schedule shall commence on the Grant
Date and, subject to Section 6 above, shall elapse upon satisfaction of the conditions set forth in the Grant Instrument. Such
conditions may provide, without limitation, for vesting based on one or more of the followings: (i) length of continuous service,
(ii) achievement of specific business targets, (iii) changes in specified indices including but not limited to - changes in the
Company's share price, (iv) attainment of specified growth rates or Company’s valuation, and/or (v) other performance targets,
as may be determined by the Administrator at its sole discretion including but not limited to – an IPO in a foreign stock
exchange and/or a Corporate Transaction.

 

		8.1.3.	Exercise Period. The exercise period during which
an Option may be exercised will be determined by the Administrator and will not exceed ten years from the Grant Date or such shorter
period set forth in the Grant Instrument, unless shortened pursuant to the terms of this Plan. At the end of an Exercise Period,
all Options granted which were not exercised will expire and be cancelled.

 

		8.1.4.	Minimum Exercise. No exercise of Options by a Participant,
shall be for an aggregate exercise amount of less than 1,000 options unless such exercise is for all shares of the Company purchasable
upon exercise of the Options held by a Participant (or by the Trustee on his behalf) which have vested as of such date. The partial
exercise of an Option shall not cause the expiration, termination or cancellation of the remaining unexercised portion of such
Option.

 

    	 	12	 

    

    

 

		8.1.5.	Method of Exercise. An Option, or any part thereof,
shall be exercised by (i) the Participant’s signing and delivering to the Company at its principal office, to the attention
of its CFO or VP Finance (with a copy of such notice to the Trustee, if the Option is held in trust), an exercise notice (“Notice
of Exercise”) in such form and substance as may be prescribed by the Administrator from time to time, and (ii) full
payment for the Ordinary Shares purchased upon the exercise of an Option. Payment shall be made on the date of delivery of the
Notice of Exercise or on a later date, if so determined by the Administrator, by the following means: (x) in cash, by certified
check, bank cashier's check or wire transfer, or (y) subject to the approval of the Administrator, by such other method of payment
as the Administrator may from time to time authorize.

 

		8.1.6.	Cashless Exercise. Notwithstanding the provisions
of Section 8.1.5 above, the Administrator may, at its discretion, resolve that the exercise of vested Options will be done either
(x) in cash; or (y) through a cashless exercise procedure, pursuant to which each vested Option will entitle its holder to the
right to purchase Ordinary Shares (subject to the adjustments described in Section 3.2 or 8.1.1 above), in accordance with the
Cashless Formula (“Cashless Options”). Unless otherwise stated in the Grant Instrument, vested Options
may only be exercised through a cashless exercise procedure.

 

The Participant may exercise vested Cashless Options
by signing and delivering to the Company at its principal office, to the attention of its CFO or VP Finance (or to the Trustee,
if the Option is held in trust), a Notice of Exercise in such form and substance as may be prescribed by the Administrator and
act in accordance with the provisions of Section 29 below.

 

The Administrator or someone designated by it and/or the Trustee
will make all applicable calculations with respect to the Option Exercise Price and determine the amount of Ordinary Shares issued
or to be issued upon exercise of the vested Options, all in accordance with the Plan on the date on which the Notice of Exercise
has been delivered (as specified in Section 8.1.5 above, and if such date is not a business day, the first business day following
such date) ("Notice Date") including the applicable exchange rate in effect on the Notice Date and such calculation
will be binding on the Participants.

 

		8.1.7.	Exercise Shares. Except for any applicable provisions
of the Tax Ordinance or relevant securities laws or the relevant stock exchange rules or specific provisions of this plan, the
Ordinary Shares and any other securities issued to a Participant (or the Trustee on his behalf) upon Option exercise shall be
subject to the articles of association of the Company from time to time in force (including, without limitation, provisions relating
to voting and dividend) and shall be free and clear of any transfer restrictions (except to the extent applicable pursuant to
the Company’s articles of association and/or the relevant Grant Instrument and/or applicable law); pledges, encumbrances
or liens; and other third party rights of any kind.

 

    	 	13	 

    

    

 

		8.2	Restricted Shares

 

		8.2.1	Restricted Shares Legend on Shares . Each Participant
who is awarded Restricted Shares shall be issued the number of Ordinary Shares specified in the Grant Instrument for such Restricted
Shares, and such Ordinary Shares shall be recorded in the Shareholder Registry of the Company. Such Ordinary Shares shall be issued
to the Trustee and held for the benefit of the Participant subject to the terms, conditions, and restrictions applicable to such
Restricted Shares. The Restricted Shares will be held in custody by the Trustee until the restrictions thereon shall have lapsed.
The Participant shall deliver to the Administrator a share power or share powers, irrevocably endorsed to the Trustee, relating
to the Restricted Shares. It is expected that as long as Restricted Shares are held by the Trustee, the Trustee shall not exercise
the voting rights of the underlying Ordinary Shares unless requested to do so by the Company. In such event, the Trustee shall
vote the underlying Ordinary shares proportionally as the Shareholders vote and if the vote of public shareholders is counted
separately, proportionally to the public shareholders vote. Notwithstanding the foregoing, the Company reserves the right to request
the Participant to exercise his or her voting rights.

 

		8.2.2	Restrictions and Conditions. Restricted Shares shall be subject to the following restrictions
and conditions:

 

		(i)	Subject to the other provisions of this Plan and the terms of the Participant's Grant Instrument,
during such period as may be determined by the Administrator commencing on the Grant Date (the “Restriction Period"),
the Participant shall not be permitted to sell, transfer, pledge or assign Restricted Shares.

 

		(ii)	Except as provided in subparagraph (i) above and subject to the terms of this Plan and the Participant’s
Grant Instrument the Restricted Shares shall have the rights of a shareholder of the Company, including the right to vote the Ordinary
Shares (endorsed to the Trustee as long as the Restricted Shares are held by the Trustee), and the equity rights attached to the
Restricted Shares (subject to the provisions of Section 3.2 above). Ordinary Shares forfeited under the provisions of the Plan
shall be promptly returned to the Company by the Trustee. Each Participant, by his or her acceptance of Restricted Shares, shall
irrevocably grant to the Company a power of attorney to transfer and return any Ordinary Share so forfeited to the Company and
agrees to execute any document requested by the Company in connection with such forfeiture and transfer.

 

		(iii)	The Restriction Period of Restricted Shares shall commence
on the Grant Date and, subject to Section 6 above, shall elapse upon satisfaction of the conditions set forth in the Grant Instrument;
such conditions may provide for vesting based on (i) length of continuous service, (ii) achievement of specific business targets,
(iii) increases in specified indices, (iv) attainment of specified growth rates, or (v) other performance targets, as may be determined
by the Administrator at its sole discretion.

 

		8.3.	Restricted Share Units (“RSUs”)

 

		8.3.1	Exercise Price. The Administrator shall determine
the exercise price per Ordinary Share and whether or not it will be linked to a certain index or currency ("RSU Exercise
Price"), subject to applicable law, regulations and guidelines, but unless otherwise determined the RSU Exercise Price
shall be zero.

 

		8.3.2	Vesting Schedule. The vesting schedule of RSUs will
be determined by the Administrator in its sole discretion.

 

The vesting schedule shall
commence on the Grant Date and, subject to Section 6 above, shall elapse upon satisfaction of the conditions set forth in the Grant
Instrument; such conditions may provide for vesting based on (i) length of continuous service, (ii) achievement of specific business
targets, (iii) increases in specified indices including without limitation - changes in the Company's share price, (iv) attainment
of specified growth rates, or (v) other performance targets, as may be determined by the Administrator at its sole discretion including
but not limited to – an IPO in a foreign stock exchange and/or a Corporate Transaction.

 

    	 	14	 

    

    

 

The vesting terms of any RSU
will be detailed in the Grant Instrument.

 

		8.3.3	Exercise Period. The exercise period during which
an RSU may be exercised will be determined by the Administrator (considering, if applicable, inter alia, the provisions
of the Compensation Policy) and will not exceed ten years from the Grant Date or such shorter period set forth in the Grant Instrument,
unless shortened pursuant to the terms of this Plan. At the end of an Exercise Period, all RSUs granted which were not exercised
will expire and be cancelled.

 

		8.3.4	Method of Exercise. An RSU, or any part thereof,
shall be exercised by (i) the Participant’s signing and delivering to the Company at its principal office, to the attention
of its Secretary (or to the Trustee, if the RSU is held in trust), an exercise notice (“Notice of Exercise”)
in such form and substance as may be prescribed by the Administrator from time to time, and (ii) full payment of the RSU Exercise
Price for the Ordinary Shares purchased upon the exercise of an RSU to the extent applicable. Payment shall be made on the date
of delivery of the Notice of Exercise or on a later date, if so determined by the Administrator, by the following means: (x) in
cash, by certified check, bank cashier's check or wire transfer, or (y) subject to the approval of the Administrator, by such
other method of payment as the Administrator may from time to time authorize.

 

		8.3.5	Restriction on Transfer and Sale. The Administrator
may determine that the Shares covered by an RSU shall be restricted as to transferability and sale. If so restricted, such Shares
shall not be sold, transferred, or disposed of in any manner, and such Shares shall not be pledged or otherwise hypothecated
until the restriction expires by its terms. The circumstances under which any such restriction shall expire and any applicable
sanction shall be determined by the Administrator.

 

		8.3.6	Shareholder Rights. Unless otherwise specified in
a Grant instrument, a Participant shall not be entitled to receive dividends, exercise voting rights, or exercise any other rights
of a shareholder with respect to RSUs (except that the RSUs will be subject to the adjustment specified in Section 3.2 above)
until the RSUs have vested and the Shares in question have been issued by the Company.

 

		8.4	Notwithstanding any provisions of this Plan, as long as
the Company's shares are traded on the Tel Aviv Stock Exchange Ltd., the Participant may not exercise any Option and/or RSU granted
under this Plan on the record date (in the Tel Aviv Stock Exchange Ltd.) of any one of the following events: (i) distribution
of bonus shares; (ii) rights offering; (iii) distribution of dividend; (iv) consolidation of share capital; (v) split of share
capital; (vi) reduction of capital (each of the above will be referred to below as a "Company Event"). In addition,
in the event the ex-day (as defined in the Tel Aviv Stock Exchange Ltd. regulations) of a Company Event precedes the record date
of such Company Event, the Options and RSUs granted under this Plan may not be exercised on such ex-day.

 

		8.5	Waiver of Grant Rights. At any time prior to the
expiration of any Option or RSU, or, the elapsing of the Restriction Period of any Restricted Share as applicable, a Participant
may waive all rights attributable to such Granted Security by delivering a written notice to the Company's principal office, to
the attention of its CFO or VP Finance. Such notice shall be accompanied by the applicable Grant Instrument, shall specify the
number of Ordinary Shares subject to or underlying the Granted Security with respect to which the Participant waives his rights
and shall be signed by the Participant. Upon receipt by the Company of the notice of waiver with respect to any Granted Security,
such Granted Securities shall expire or returned to the Company (as the case may be) with respect to the number of Ordinary Shares
specified therein, and an amended Grant Instrument will be issued with respect to any Granted Security (or portion thereof) covered
by the Grant Instrument as to which rights attributable thereto were not waived.

 

    	 	15	 

    

    

 

		8.6	Notices. All notices delivered by a Participant
hereunder shall be signed by the Participant. Any notice if sent by the Participant shall be irrevocable and shall not be effective
until actually received by the Company.

 

		9.	Termination of Employment or Service

 

		9.1.	Voluntary Termination by Participant. In the event
that a Participant's employment with or service to the Company or any Affiliate (as the case may be) is terminated by the Participant
voluntarily for any reason other than Retirement, Disability or death: (i) Options or RSUs granted to such Participant, to the
extent vested at the time of termination of employment or service, shall be exercisable for a period of 90 days following either
termination or the date upon which the Participant may freely sell Ordinary Shares acquired upon Option or RSU exercise, the later
date of the two; (ii) Restricted Shares granted to such Participant, to the extent earned at the time of termination of employment
or service, shall be owned by the Participant following termination; and (iii) Granted Securities granted to such Participant,
to the extent that they were not vested or earned at the time of termination of employment or service, shall expire at the time
of termination (in the case of Options and RSUs) or returned to the Company (in the case of Restricted Shares).

 

		9.2.	Termination by the Company or an Affiliate Other Than
For Cause. In the event that a Participant's employment with or service to the Company or any Affiliate (as the case may be)
is terminated by the Company or such Affiliate for any reason other than for Cause: (i) Granted Securities granted to such Participant,
to the extent vested or earned at the time of termination of employment or service, shall be exercisable for a period of 90 days
following termination, and (ii) Granted Securities granted to such Participant, to the extent that they were not vested or earned
at the time of termination of employment or service, shall expire at such time (in the case of Options and RSUs) or returned to
the Company (in the case of Restricted Shares).

 

		9.3.	Termination By Reason of Retirement, Death or Disability.
In the event that a Participant's employment with or service to the Company or any Affiliate (as the case may be) terminates
by reason of the Retirement, Disability or death of the Participant: (i) Granted Securities granted to such Participant, to the
extent vested or earned at the time of termination of employment or service, shall be exercisable during the remainder of their
exercise period (in the case of Options or RSUs) or be owned by Participant at the time of termination of employment (in the case
of Restricted Shares), and (ii) Granted Securities granted to such Participant, to the extent that they were not vested or earned
at the time of termination of employment or service, shall expire at such time (in the case of Options and RSUs) or returned to
the Company (in the case of Restricted Shares); provided, however, that in case of death or disability a pro rata portion
of the Granted Securities that would have become vested or earned during the period of time until the next anniversary of the
Commencement Date (but for such termination of employment or service) shall become vested or earned on the date of such termination
of employment or service and shall be exercisable during the remainder of their Exercise Period (in the case of Options and RSUs)
or owned by the Participant on the date of such (in the case of Restricted Shares). Such pro rata portion shall be determined
by multiplying the number of unvested or unearned Granted Securities scheduled to vest during the period of time until the next
anniversary of the Commencement Date by a fraction, the numerator of which is the number of full and partial months which the
Participant has been employed with or gave services to the Company or any Affiliate since the most recent anniversary of the Commencement
Date (or, if less than one year has elapsed since the Commencement Date, since the Commencement Date) and the denominator of which
is twelve, rounded down to the nearest whole number.

 

    	 	16	 

    

    

 

		9.4.	Termination for Cause. In the event a Participant's
employment with or service to the Company or any Affiliate (as the case may be) is terminated for Cause, all outstanding Options
and RSUs granted to such Participant (i.e., whether vested or not) shall expire upon the termination of employment or service
and all Restricted Shares (i.e., whether earned or not) (unless any of the above was released from the Trustee to the Participant)
shall be returned to the Company. A Participant shall be entitled to challenge the Administrator’s determination that a
termination is for Cause, in which case, the final determination shall be made by a court of competent jurisdiction and until
that time, all Granted Securities will remain with the Trustee.

 

		9.5.	Expiration of Term. Notwithstanding anything to
the contrary in this Section 9, no Option or RSU shall be exercisable after the expiration of its Exercise Period.

 

		9.6.	Continuation of Employment or Service. Notwithstanding
anything to the contrary in this Plan, for the purpose of this Plan, employment by or service to the Company and any Affiliate
shall be deemed continuous employment or service, and the move of a Participant as an employee or service provider between the
Company and any Affiliate (or among the Affiliates) shall not be deemed termination of employment or service under this Plan.

 

		10.	Trust Arrangement

 

		10.1.	Notwithstanding anything to the contrary in this Plan,
Approved 102 Grants which shall be granted under this Plan and any Ordinary Shares allocated or issued upon exercise or earning
of such Approved 102 Grants and other rights, including without limitation underlying securities of a rights offering, bonus shares
and dividends, shall be allocated or issued to the Trustee and held for the benefit of the Participants for such period of time
as required by Section 102 or any regulations, rules or orders or procedures promulgated thereunder (the “Holding Period”).

 

		10.2.	With respect to any Approved 102 Grant, subject to Section
102 and the Rules, Participants shall not be able to receive from the Trustee, nor shall they be able to sell or dispose of Ordinary
Shares or any rights, including bonus shares, before the end of the applicable Holding Period. If a Participant sells or removes
the Shares from the Trustee before the end of the applicable Holding Period (“Breach”), the Participant shall
pay all applicable taxes imposed on such Breach by Section 7 of the 102 Rules.

 

		10.3.	Until all taxes have been paid in accordance with Section
7 of the 102 Rules, Granted Securities and Ordinary Shares may neither be transferred to the Participant, nor be sold, transferred,
assigned, pledged, encumbered, or otherwise willfully hypothecated or disposed of, and no power of attorney or deed of transfer,
whether for immediate or future use may be validly given by the Participant. Notwithstanding the foregoing, the Granted Securities
and Ordinary Shares may be validly transferred in a transfer made by will or laws of descent, provided that the transferee thereof
shall be subject to the provisions of Section 102 and the Section 102 Rules as would have been applicable to the deceased Participant
were he or she to have survived.

    	 	17	 

    

    

 

		10.4.	Upon receipt of Approved 102 Grant, the Participant will
sign an undertaking to release the Trustee from any liability in respect of any action or decision duly taken and bona fide executed
in relation with this Plan, or any Approved 102 Grant or Ordinary Share granted to him thereunder.

 

		11.	Rights as a Shareholder

 

No Participant shall have any rights as a shareholder with respect
to any Ordinary Shares or other securities of the Company covered by or relating to any Option or RSU, whether or not exercisable,
until the due issuance of such shares by the Company. Ordinary Shares to be issued under the Plan will be subject to all provisions
of the Articles of Association of the Company for the time being in force and, with respect to Restricted Shares, also subject
to the terms and conditions of this Plan and the Grant Instrument, and will rank pari passu in all respects with the then
outstanding Ordinary Shares on the date in which the Option or the RSU is duly exercised ("Exercise Date") (with
respect to Options and RSUs) or the date of issuance of Restricted Shares (with respect to Restricted Shares) and accordingly will
entitle the holders thereof to participate in all dividends or other distributions paid or made on or after the Exercise Date (or,
subject to earning of the underlying Restricted Shares, the issuance date thereof) other than any dividend or other distribution
previously declared or recommended or resolved to be paid if the record date therefor shall be before the Exercise Date (or issuance
date, as the case may be). An Ordinary Share issued upon the exercise of an Option or an RSU shall not carry voting rights until
the Participant has been duly entered in the register of shareholders of the Company as the holder thereof. Notwithstanding the
foregoing, a Participant awarded Restricted Shares shall (i) endorse the voting rights of the underlying Ordinary Shares to the
Trustee, as set in Section 8.2.1 above; and (ii) receive dividends or any other awards, with respect to such shares (which shall
be held in trust by the Trustee as long as the respective underlying Restricted Shares are held by the Trustee and subject to release
of the underlying shares to the Participant).

 

		12.	No Special Employment or Service Rights; No Right
to Granted Securities

 

Nothing contained in this Plan or any Grant Instrument shall
confer upon any Participant any right with respect to the continuation of employment by or service to the Company or any Affiliate
or interfere in any way with the right of the Company or any Affiliate, subject to the terms of any separate employment or service
agreement, at any time to terminate such employment or service, or to increase or decrease the compensation of or payment to the
Participant. The Plan shall not form part of any contract of employment. No person shall have any claim or right to receive any
shares hereunder except in accordance with the express terms of this Plan and a Grant Instrument issued to such person.

 

		13.	Tax Matters

 

		13.1.	This Plan shall be governed by, and shall be conformed
with and interpreted so as to comply with, the requirements of Section 3(i) or Section 102 of the Tax Ordinance (as the case may
be) and any regulations, rules, orders, or procedures promulgated thereunder.

 

		13.2.	Any tax consequences arising from the grant or exercise
of any Grant, from the payment for Ordinary Shares covered thereby or from any other event or act (of the Company, and/or its
Affiliates, and the Trustee – if applicable - or the Participant), hereunder, shall be borne solely by the Participant.
The Company and/or its Affiliates, and/or the Trustee shall withhold taxes according to the requirements under the applicable
laws, rules, and regulations, including withholding taxes at source. Furthermore, the Participant shall agree to indemnify the
Company and/or its Affiliates and/or the Trustee and hold them harmless against and from any and all liability for any such tax
or interest or penalty thereon, including without limitation, liabilities relating to the necessity to withhold, or to have withheld,
any such tax from any payment made to the Participant.

 

    	 	18	 

    

    

 

		13.3.	The Company and/or, when applicable, the Trustee shall
not be required to release any shares to a Participant until all required payments have been fully made.

 

		13.4.	With respect to Unapproved 102 Grants, if the Participant
ceases to be employed by the Company or any Affiliate, the Participant shall extend to the Company and/or its Affiliate a security
or guarantee for the payment of tax due at the time of sale of Shares, all in accordance with the provisions of Section 102 and
the rules, regulation or orders promulgated thereunder.

 

		14.	Withholding Taxes

 

Whenever cash is to be paid pursuant to a Grant, the Company
shall have the right to deduct from such payment an amount sufficient to satisfy any applicable withholding tax requirements related
thereto. Whenever Ordinary Shares or any other non-cash assets are to be delivered pursuant to a Grant, the Company shall have
the right to require the Participant to remit to the Company in cash an amount sufficient to satisfy any applicable withholding
tax requirements related thereto or to provide it with any other security or guarantee acceptable to the Company, and if such amount
of cash is not timely remitted, to withhold such Ordinary Shares or any other non-cash assets pending payment by the Participant
of such amounts.

 

		15.	Transfers upon Death; Non-Assignability; Market Stand
-Off; Non-Public Information

 

		15.1.	Death. No transfer of a Granted Security by will
or by the laws of descent and distribution shall be effective to bind the Company unless the Company shall have been furnished
with: (a) written notice thereof and with a copy of the relevant section of the will relating to the bequest of the Granted Security,
certified by a notaryand/or such other evidence as the Administrator may deem necessary to establish the validity of the transfer;
and (b) a written consent by the transferee to pay the Option or RSU Exercise Price upon exercise of the Option or the RSU, if
any, and otherwiseabide by the terms set forth in this Plan and in the relevant Grant Instrument.

 

		15.2.	Non-Assignability.

 

		15.2.1.	Notwithstanding any other provision of the Plan, no Granted
Security or any right with respect thereto, purchasable hereunder, whether fully paid or not, shall be assignable, transferable
or given as collateral or any right with respect to them given to any third party whatsoever, and during the lifetime of the Participant
each and all of such Participant's rights to purchase Ordinary Shares hereunder shall be exercisable or taken only by the Participant.
Any such action made directly or indirectly, for an immediate validation or for a future one, shall be void and shall entitle
the Company to cancel any Granted Security granted to such Participant to the extent not already exercised or earned (as the case
may be).

 

		15.2.2.	As long as Options, RSUs or Ordinary Shares purchased pursuant
thereto or Restricted Shares are held by the Trustee on behalf of the Participant, all rights of the Participant over the shares
are personal, cannot be transferred, assigned, pledged or mortgaged, other than by will or laws of descent and distribution.

 

    	 	19	 

    

    

 

		15.3.	Market Stand-Off; Non-Public Information.

 

In connection with any underwritten public offering by the Company
of its equity securities pursuant to an effective registration statement filed under any applicable law in any jurisdiction, the
Participant shall not directly or indirectly sell, make any short sale of, loan, hypothecate, pledge, offer, grant or sell any
Granted Securities or other contract for the purchase of, purchase any or other contract for the sale of, or otherwise dispose
of or transfer, or agree to engage in any of the foregoing transactions with respect to, any Ordinary Shares acquired under this
Plan without the prior written consent of the Company or its underwriters. Such restriction (the “Market Stand-Off”)
shall be in effect for such period of time following the date of the final prospectus for the offering as may be requested by the
Company or such underwriters. In the event of the declaration of a stock dividend, a spin-off, a stock split, an adjustment in
conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities without receipt
of consideration, any new, substituted or additional securities which are by reason of such transaction distributed with respect
to any Granted Securities and/or Ordinary Shares acquired under this Plan shall immediately be subject to the Market Stand-Off.
In order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect to the Ordinary Shares
acquired under this Plan until the end of the applicable stand-off period. The Company’s underwriters shall be beneficiaries
of the agreement set forth in this Subsection. Furthermore, the Participant’s right to sell Ordinary Shares is subject to
Applicable Laws, including in connection with limitation relating to the use of non-public information, if and when applicable.

 

		16.	Expenses and Receipts

 

The expenses incurred in connection with the administration
and implementation of the Plan (excluding any taxes and other liabilities to which the Participant is subject as a result of his
or her participation in the Plan) shall be paid by the Company. Any proceeds received by the Company in connection with the exercise
or earning of any Granted Security may be used for general corporate purposes.

 

		17.	Term and Termination

 

		17.1.	Term of Plan. Granted Securities may be granted
at any time after: (i) the Effective Date (ii) (for CGG or OIG Options) the Trustee has been approved by the Israeli Income Tax
Authorities pursuant to the requirements of the Tax Ordinance, and (iii) any other approvals or consents required by law have
been received, until the Termination Date after which period no further Granted Securities may be issued but the provisions of
the Plan shall remain in full force and effect to the extent necessary to give effect to the exercise of any Option or RSU granted
or exercised prior thereto, to the earning of any Restricted Share granted prior thereto or otherwise as may be required in accordance
with the provisions of the Plan. Can’twe do “granted subject to .

 

		17.2.	The Administrator may, at any time and from time to time,
terminate the Plan in any respect, subject to anyapplicable approvals or consents that may be otherwise required by law, regulation
or agreement, including by reason of their applicability to its shareholders or otherwise, and provided that no termination of
the Plan shall adversely affect the terms of any Granted Security which has already been granted. Upon such termination, no further
Granted Securities will be offered under the Plan, but in all other respects the provisions of the Plan shall remain in force
to the extent necessary to give effect to the exercise or earnings of any Granted Security (to the extent not already exercised
or earned) granted prior thereto or otherwise as may be required in accordance with provisions of the Plan and Granted Securities
(to the extent not already exercised or earned) granted prior to such termination shall continue to be valid and exercisable or
earnable in accordance with the Plan.

 

    	 	20	 

    

    

 

		18.	Amendment of the Plan

 

		18.1.	Subject to other sections of the Plan, applicable law and
the rules and regulations of any stock exchange applicable from time to time to the Company, by reason of their applicability
to its shareholders or otherwise, the Administrator may resolve to: (i) alter or amend the Plan in any respect; (ii) alter or
amend the terms of any outstanding Grant Instrument, provided, however, that no such alteration or amendment shall adversely affect
any Participant's rights under any outstanding Grant Instrument without the consent of such Participant.

 

		18.2.	The terms of the Plan and/or any Granted Security amended
pursuant to this Section 18 must comply with the applicable rules and/or regulations of any stock exchange applicable from time
to time to the Company, by reason of their applicability to its shareholders or otherwise.

 

		19.	Failure to Comply

 

In addition to the remedies of the Company elsewhere provided
for herein, failure by a Participant to comply with any of the terms and conditions of the Plan or the applicable Grant Instrument
shall be grounds for the cancellation and forfeiture of such Option or RSUs or the return to the Company of such unearned Restricted
Share, in whole or in part, as the Administrator, at its absolute discretion, may determine, provided however, that such failure
is not remedied by such Participant within ten days after notice by the Company of such failure.

 

		20.	Required Approvals and Restrictions under the Company's
Licenses

 

The Plan is subject to the receipt, and the terms, of all approvals
and permits required under any applicable law or by regulatory authorities having jurisdiction over the Plan the Granted Securities,
or the Ordinary Shares issued upon exercise of Options or RSUs or as Restricted Shares.

 

Notwithstanding anything to the contrary in this Plan, if any
of the approvals or permits required for the Grant of the Granted Securities or for their exercise or receipt, will not be obtained
for any reason, the Participant will not be entitled to exercise or receive said Granted Securities. In addition, the Company (including
its office holders, controlling shareholders or related third parties on their behalf) will not be liable towards the Participant
and the Participant will not have any claim or allegation for not obtaining said approvals and permits.

 

		21.	Extension of Exercise Period

 

In the event the Exercise Period will end during a period which
was determined by the Company as a lock up period (including but not limited to: (i) because of the existence or potential existence
of inside information; (ii) because of a lock up in connection with a public offering in a Stock Exchange) (the "Blackout
Period"), then subject to the satisfaction of all other terms of this Plan, the Exercise Period shall be automatically
extended, without the need to receive additional decisions of the Committee or the Board of Directors, by such number of days as
of the beginning of the Blackout Period and until the earlier of: (i) the date that the Blackout Period ended; (ii) end of the
exercise period of the Granted Securities.

 

		22.	Applicable Law

 

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

 

    	 	21	 

    

    

 

		23.	No Rights against the Company or an Affiliate

 

This Plan shall not confer on any person any legal or equitable
rights (other than those constituting the Granted Securities themselves) against the Company or any Affiliate directly or indirectly
or give rise to any cause of action at law or in equity against the Company or any Affiliate.

 

		24.	Treatment of Participants

 

There is no obligation for uniformity of treatment of Participants.

 

		25.	Cancelled

 

		26.	No Fractional Shares

 

Notwithstanding any provision of this Plan, no fractional shares
shall be issued or delivered upon exercise of an Option or an RSU or granted as a Restricted Share and the number of Ordinary Shares
granted or issued under this Plan to any Participant shall be rounded down to the nearest whole number.

 

		27.	Cancelled

 

		28.	Integrationof Section 102 and Tax Assessing Officer’s
Permit

 

		28.1.	With regards to Approved 102 Grants, the provisions of
the Plan and/or the Grant Instrument shall be subject to the provisions of Section 102 and the Tax Assessing Officer’s permit,
and the said provisions and permit shall be deemed an integral part of the Plan and of the Grant Instrument.

 

		28.2.	Any provision of Section 102 and/or the said permit which
is necessary in order to receive and/or to keep any tax benefit pursuant to Section 102, which is not expressly specified in the
Plan or the Grant Instrument, shall be considered binding upon the Company and the Participants.

 

		29.	Issuance of Ordinary Shares for no Consideration

 

To the extent the Company is required to issue Ordinary Shares
under this Plan (whether as a direct issuance or as a result of exercise of Options or RSUs) for no consideration, the Company
at its sole and absolution discretion (by way of a resolution of the Administrator) may obligate the Participant to pay the higher
of: (i) the nominal par value of the Ordinary Shares issued; (ii) minimum price according to the Stock Exchange by laws (if and
to the extent that the Stock Exchange by laws indeed imposes such a limitation on such an issuance of Ordinary Shares); and in
such event the Ordinary Shares will not be issued (and the Options and RSUs will not be exercised) prior to the payment of such
nominal par value.

 

		30.	Confidentiality

 

The Participant shall not divulge the details of the Plan and/or
his holdings to any person except with the prior written permission of the Company, unless so required to do under any statutes
or regulations applicable to such Participant.

 

		31.	Restrictions on Sale

 

Unless stated otherwise in the Grant Instrument,
all shares resulting from the exercise of Options and RSUs together with the Restricted Shares (collectively "Exercise
Shares") shall be subject to the following restrictions on sale on the Stock Exchange:

 

    	 	22	 

    

    

 

		31.1.	All Exercise Shares shall remain held by the Trustee (and
will not be released to theParticipant) until they are sold (on or off the Stock Exchange) by the Trustee in accordance with the
instructions of the participant.

 

		31.2.	The total number of Exercise Shares sold (or otherwise
disposed) for the account of the Participants, collectively, on the Stock Exchange in any given Trading Day, shall not exceed
the average daily reported volume of trading in the Company's shares on the Stock Exchange during the 30 Trading Days preceding
the date of execution of the sale (the "Maximum Amount").

 

		31.3.	If and to the extent that the Trustee shall receive requests
from Participants to sell Exercise Shares, on a certain day, in a total amount that exceeds the Maximum Amount, then the Trustee
shall only sell the Maximum Amount of Exercise Shares where each Participant's sale request will be partially executed (pro rata
to the number of Exercise Shares that the Participant requested to sell out of the total amount of Exercise Shares that all the
Participants requested to sell on that day).

 

		31.4.	For the purposes of this Section, all calculations will
be done by the Company and the Trustee. Calculation will be final, and the Participants shall have no claims or demands against
the Company and/or the Trustee or anyone on their behalf. 

 

The Administrator may resolve, in its sole discretion, to amend or update
the above restrictions from time to time and to apply such revised restriction to both future grants and to existing Granted Securities.

 

		32.	Currency exchange

 

Unless otherwise stated in the Grant Instrument, if there will
be a need to convert a certain amount (exercise price and/or share price, etc.) from Shekel to Dollar or vice versa, then the conversion
will be carried out according to the last exchange rate published by the Bank of Israel prior to the relevant date or according
to the average of such exchange rates during a longer period, as determined by the Administrator.

 

		33.	Disputes

 

The Board of Directors of the Company ("Board")
shall have full and exclusive authority to rule in any dispute with the Participants (or any one on his behalf) in connection with
and/or arising from the allocation of the Granted Securities.

 

All the rulings of the Board will be final and binding to both Company
and the Participant, and the Participant shall have no claims or demands against the Company/Trustee or anyone on their behalf.

 

		34.	No Obligation to Notify.

 

The Company shall have no duty or obligation to any Participant
to advise such holder as to the time or manner of exercising the Granted Securities. Furthermore, the Company shall have no duty
or obligation to warn or otherwise advise such holder of a pending termination or expiration of Granted Securities or a possible
period in which the Granted Securities may not be exercised. The Company has no duty or obligation to minimize the tax consequences
of Granted Securities to the holder of such Shares Award

 

*        *

 

    	 	23Exhibit 4.4

 

Itamar
Medical Ltd.

 

2016
U.S. Equity Incentive Plan

 

Adopted
By The Board Of Directors: January 21, 2016

Approved
By The Shareholders: March 16, 2016

Termination
Date: January 20, 2026

 

		1.	General.

 

(a)          Eligible
Share Award Recipients. The persons eligible to receive Share Awards are Employees, Directors, and Consultants.

 

(b)           Available
Share Awards. The Plan provides for the grant of the following Share Awards: (i) Incentive Share Options, (ii) Nonstatutory Share
Options, (iii) Restricted Share Awards and (iv) Restricted Share Unit Awards.

 

(c)           Purpose.
The Company, by means of the Plan, seeks to secure and retain the services of the group of persons eligible to receive Share Awards
as set forth in Section 1(a), to provide incentives for such persons to exert maximum efforts for the success of the Company and
any Affiliate, and to provide a means by which such eligible recipients may be given an opportunity to benefit from increases in
value of the Ordinary Shares through the granting of Share Awards.

 

		2.	Definitions.

 

As used in the Plan, the
following definitions shall apply to the capitalized terms indicated below:

 

(a)          “Affiliate” means
(i) any corporation (other than the Company) in an unbroken chain of corporations ending with the Company, provided each
corporation in the unbroken chain (other than the Company) owns, at the time of the determination, shares possessing fifty
percent (50%) or more of the total combined voting power of all classes of shares in one of the other corporations in such
chain, and (ii) any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company,
provided each corporation (other than the last corporation) in the unbroken chain owns, at the time of the determination,
shares possessing fifty percent (50%) or more of the total combined voting power of all classes of shares in one of the other
corporations in such chain. The Board shall have the authority to determine (i) the time or times at which the ownership
tests are applied, and (ii) whether “Affiliate” includes entities  other than corporations within the foregoing
definition.

 

(b)          “Board” means the Board of Directors of the Company.

 

(c)          “Capitalization
Adjustment” means any change that is made in, or other events that occur with respect to, the Ordinary Shares as described
in Section 9(a).

 

     

     

    

 

(d)           “Cause”
means the occurrence of any of the following: (i) conviction of the Participant of any felony or any crime involving fraud or dishonesty;
(ii) the Participant’s participation (whether by affirmative act or omission) in a fraud, act of dishonesty or other act
of misconduct against the Company and/or its Affiliates; (iii) conduct by the Participant which, based upon a good faith and reasonable
factual investigation by the Company (or, if the Participant is an Officer, by the Board), demonstrates the Participant’s
unfitness to serve; (iv) the Participant’s violation of any statutory or fiduciary duty, or duty of loyalty owed to the Company
and/or its Affiliates; (v) the Participant’s violation of state or federal law in connection with the Participant’s
performance of his/her job which has an adverse effect on the Company and/or its Affiliates; (vi) the Participant’s breach
of any material term of any contract between the Participant and the Company and/or its Affiliates; (vii) the Participant’s
repeated violation of Company policy which has a material adverse effect on the Company and/or its Affiliates and (viii) such Participant’s
unsatisfactory job performance which is not cured within fifteen (15) days by the Participant following the Participant’s
receipt of written notice of such unsatisfactory job performance. Notwithstanding the foregoing, the Participant’s Disability
shall not constitute Cause as set forth herein. The determination that a termination is for Cause shall be made by the Company
in its sole and exclusive judgment and discretion.

 

(e)           “Code”
means the Internal Revenue Code of 1986, as amended.

 

(f)           “Committee”
means a committee of one or more members of the Board to whom authority has been delegated by the Board in accordance with
Section 3(c).

 

(g)          “Companies
Law” means the Israeli Companies Law, 1999, as may be amended from time to time and the regulations thereunder.

 

(h)          “Company”
means Itamar Medical Ltd., a company incorporated under the laws of the State of Israel.

 

(i)           “Consultant”
means any person, including an advisor, who is (i) engaged by the Company or an Affiliate to render consulting or advisory
services and is compensated for such services, or (ii) serving as a member of the Board of Directors of an Affiliate and is compensated
for such services. However, service solely as a Director, or payment of a fee for such service, shall not cause a Director to
be considered a “Consultant” for purposes of the Plan.

 

    	 	2	 

     

    

 

(j)           “Continuous
Service” means that the Participant’s service with the Company or an Affiliate, whether as an Employee,
Director or Consultant, is not interrupted or terminated. A change in the capacity in which the Participant renders service
to the Company or an Affiliate as an Employee, Consultant or Director or a change in the entity for which the Participant
renders such service, provided that there is no interruption or termination of the Participant’s service with the
Company or an Affiliate, shall not terminate a Participant’s Continuous Service; provided, however, if the
corporation for which a Participant is rendering service ceases to qualify as an Affiliate, as determined by the Board in its
sole discretion, such Participant’s Continuous Service shall be considered to have terminated on the date such
corporation ceases to qualify as an Affiliate. For example, a change in status from an employee of the Company to a
consultant of an Affiliate or to a Director shall not constitute an interruption of Continuous Service. To the extent
permitted by law, the Board or the chief executive officer of the Company, in that party’s sole discretion, may
determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that
party, including sick leave, military leave or any other personal leave. Notwithstanding the foregoing, a leave of absence
shall be treated as Continuous Service for purposes of vesting in a Share Award only to such extent as may be provided in the
Company’s leave of absence policy or in the written terms of the Participant’s leave of absence agreement or
policy applicable to the Participant, or as otherwise required by law.

 

(k)          “Corporate
Transaction” means the occurrence, in a single transaction or in a series of related transactions, of any one or more
of the following events:

 

(i)       the consummation of a sale of all
or substantially all of the assets of the Company;

 

(ii)      the
consummation of a sale (including an exchange) of all or substantially all of the capital share of the Company;

 

(iii)     the consummation
of a merger, consolidation or like transaction following which the Company is not the surviving corporation; or

 

(iv)     the consummation
of a merger, consolidation or like transaction following which the Company is the surviving corporation but the Ordinary Shares
outstanding immediately preceding the merger, consolidation or like transaction are converted or exchanged by virtue of the merger,
consolidation or like transaction into other property, whether in the form of securities, cash, or otherwise; or

 

(v)      going
private (i.e. the Company's shares are no longer listed for trade on a stock exchange)

 

(l)            “Director”
means a member of the Board.

 

(m)         “Disability”
means the permanent and total disability of a person within the meaning of Section 22(e)(3) of the Code.

 

(n)          “Employee”
means any person employed by the Company or an Affiliate. However, service solely as a Director, or payment of a fee for such
services, shall not cause a Director to be considered an “Employee” for purposes of the Plan.

 

(o)          “Fair
Market Value” means, as of any date, the value of the Ordinary Shares determined in by the Board in compliance with
Section 409A of the Code or, in the case of an Incentive Share Option, in compliance with Section 422 of the Code.

 

    	 	3	 

     

    

 

(p)          “Incentive
Share Option” means an Option intended to qualify as an “incentive stock option” within the meaning of Section
422 of the Code and the regulations promulgated thereunder.

 

(q)          “Nonstatutory
Share Option” means an Option not intended to qualify as an Incentive Share Option.

 

(r)           “Officer”
means any person designated by the Company as an officer as such term is defined in the Companies Law.

 

(s)           “Option”
means an Incentive Share Option or a Nonstatutory Share Option to purchase Ordinary Shares granted pursuant to the Plan.

 

(t)           “Option
Agreement” means a written agreement between the Company and an Optionholder evidencing the terms and conditions of
an Option grant. Each Option Agreement shall be subject to the terms and conditions of the Plan.

 

(u)          “Optionholder”
means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding
Option.

 

(v)           “Ordinary Shares” means
the common shares of the Company.

 

(w)          “Participant”
means a person to whom a Share Award is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding
Share Award.

 

(x)           “Plan”
means this Itamar Medical Ltd. 2016 U.S. Equity Incentive Plan.

 

(y)           “Restricted
Share Award” means an award of Ordinary Shares which is granted pursuant to the terms and conditions of Section 7(a).

 

(z)           “Restricted
Share Award Agreement” means a written agreement between the Company and a holder of a Restricted Share Award
evidencing the terms and conditions of a Restricted Share Award. Each Restricted Share Award Agreement shall be subject to
the terms and conditions of the Plan.

 

(aa)         “Restricted
Share Unit Award” means a right to receive Ordinary Shares which is granted pursuant to the terms and conditions of
Section 7(b) of the Plan.

 

(bb)        “Restricted
Share Unit Award Agreement” means a written agreement between the Company and a holder of a Restricted Share Unit Award
evidencing the terms and conditions of a Restricted Share Unit Award grant. Each Restricted Share Unit Award Agreement shall be
subject to the terms and conditions of the Plan.

 

    	 	4	 

     

    

 

(cc)         “Retirement”
means the actual termination of a Participant's employment with or service to the Company or the Affiliate employing him as a
result of his reaching the earlier of: (a) the legal age for retirement and (b) the age for retirement identified in his employment
or service agreement.

 

(dd)        “Securities
Act” means the Securities Act of 1933, as amended.

 

(ee)         “Share
Award” means any right granted under the Plan, including an Option, a Restricted Share Award or a Restricted Share Unit
Award.

 

(ff)          “Share
Award Agreement” means a written agreement between the Company and a Participant evidencing the terms and conditions
of a Share Award grant. Each Share Award Agreement shall be subject to the terms and conditions of the Plan.

 

(gg)         “Stock
Exchange” means the Tel Aviv Stock Exchange Ltd. provided however that if the Company's shares will be listed on the
NASDAQ or the NYSE, than Stock Exchange shall mean NASDAQ or the NYSE, as applicable, unless the Administrator determined, in
its sole discretion, otherwise

 

(hh)        “Ten
Percent Shareholder” means a person who owns (or is deemed to own pursuant to Section 424(d) of the Code) share possessing
more than ten percent (10%) of the total combined voting power of all classes of shares of the Company or any Affiliate.

 

		3.	Administration.

 

(a)           Administration
by Board. The Board shall administer the Plan unless and until the Board delegates administration of the Plan to a Committee, as
provided in Section 3(c).

 

(b)           Powers
of Board. The Board shall have the power, subject to, and within the limitations of, the express provisions of the Plan:

 

(i)       To
determine from time to time (1) which of the persons eligible under the Plan shall be granted Share Awards; (2) when and how
each Share Award shall be granted; (3) what type or combination of types of Share Award shall be granted; (4) the provisions
of each Share Award granted (which need not be identical), including the time or times when a person shall be permitted to
receive cash or Ordinary Shares pursuant to a Share Award; and (5) the number of Ordinary Shares with respect to which a
Share Award shall be granted to each such person.

 

    	 	5	 

     

    

 

(ii)       To
construe and interpret the Plan and Share Awards granted under it, and to establish, amend and revoke rules and regulations
for its administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the
Plan or in any Share Award Agreement, in a manner and to the extent it shall deem necessary or expedient to make the Plan
fully effective.

 

(iii)       To
settle all controversies regarding the Plan and Share Awards granted thereunder.

 

(iv)       To
accelerate the time at which a Share Award may first be exercised or the time during which a Share Award or any part thereof
will vest in accordance with the Plan, notwithstanding the provisions in the Share Award stating the time at which it may
first be exercised or the time during which it will vest.

 

(v)       To
effect, at any time and from time to time, with the consent of any adversely affected Participant, (1) the reduction of the exercise
price of any outstanding Option under the Plan; (2) the cancellation of any outstanding Option under the Plan and the grant in
substitution therefor of (a) a new Option under the Plan or another equity plan of the Company covering the same or a different
number of Ordinary Shares, (b) cash, and/or (c) other valuable consideration (as determined by the Board, in its sole discretion);
or (3) any other action that is treated as a repricing under generally accepted accounting principles.

 

(vi)       To
amend the Plan or a Share Award as provided in Section 12.

 

(vii)      To
terminate or suspend the Plan as provided in Section 13.

 

(viii)     Generally, to exercise such
powers and to perform such acts as the Board deems necessary or expedient to promote the best interests of the Company and
that are not in conflict with the provisions of the Plan.

 

(ix)       To
adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by individuals who
are foreign nationals or employed outside the United States.

 

(c)           Delegation
to Committee. The Board may delegate some or all of the administration of the Plan to a Committee or Committees. If administration
is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore
possessed by the Board that have been delegated to the Committee, including the power to delegate to a subcommittee any of the
administrative powers the Committee is authorized to exercise (and references in this Plan to the Board shall thereafter be to
the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may
be adopted from time to time by the Board. The Board may retain the authority to concurrently administer the Plan with the Committee
and may, at any time, revest in the Board some or all of the powers previously delegated.

 

    	 	6	 

     

    

 

(d)           Effect
of Board’s Decision. All determinations, interpretations and constructions made by the Board in good faith shall not be subject
to review by any person and shall be final, binding and conclusive on all persons.

 

		4.	Shares
                                         Subject to the Plan.

 

(a)           Share
Reserve. Subject to the provisions of Section 10(a) relating to Capitalization Adjustments, the maximum number of Ordinary
Shares that may be issued pursuant to Share Awards under the Plan is 6,000,000 Ordinary Shares, which also represents the
aggregate maximum number of Ordinary Shares that may be issued as Incentive Share Options.

 

(b)           Reversion
of Shares to the Share Reserve. If any Share Award shall for any reason expire or otherwise terminate, in whole or in part, without
having been exercised in full, or if any Ordinary Shares issued to a Participant pursuant to a Share Award are forfeited back to
or repurchased by the Company because of or in connection with the failure to meet a contingency or condition required to vest
such shares in the Participant, the Ordinary Shares not acquired, such Share Award or the Ordinary Shares forfeited or repurchased
under such Share Award shall revert to and again become available for issuance under the Plan.

 

(c)           Source
of Shares. The shares issuable under the Plan shall be shares of authorized but unissued or reacquired Ordinary Shares, including
shares repurchased by the Company on the open market.

 

		5.	Eligibility.

 

(a)           Eligibility
for Specific Share Awards. Incentive Share Options may be granted only to Employees. Share Awards other than Incentive Share Options
may be granted to Employees, Directors and Consultants.

 

 (b)           Ten Percent Shareholders.

 

(i)       A
Ten Percent Shareholder shall not be granted an Incentive Share Option unless the exercise price of such Option is at least
one hundred ten percent (110%) of the Fair Market Value of the Ordinary Shares on the date of grant and the Option is not
exercisable after the expiration of five (5) years from the date of grant.

 

(ii)       A
Ten Percent Shareholder shall not be granted a Nonstatutory Share Option unless the exercise price of such Option is at least
one hundred ten percent (110%) of the Fair Market Value of the Ordinary Shares on the date of grant.

 

(c)           Consultants.
A Consultant shall not be eligible for the grant of a Share Award if, at the time of grant, either the offer or the sale of
the Company’s securities to such Consultant is not exempt under Rule 701 of the Securities Act (“Rule 701”)
because of the nature of the services that the Consultant is providing to the Company, because the Consultant is not a
natural person, or because of some other provision of Rule 701.

 

    	 	7	 

     

    

 

		6.	Option
                                         Provisions.

 

Each
Option shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. All Options shall
be separately designated Incentive Share Options or Nonstatutory Share Options at the time of grant, and, if certificates are issued,
a separate certificate or certificates shall be issued for Ordinary Shares purchased on exercise of each type of Option. The provisions
of separate Options need not be identical; provided, however, that each Option Agreement shall include (through incorporation
of provisions hereof by reference in the Option or otherwise) the substance of each of the following provisions:

 

(a)           Term.
Subject to the provisions of Section 5(b) regarding Ten Percent Shareholders, no Option shall be exercisable after the expiration
of ten (10) years from the date of grant.

 

(b)           Exercise
Price of an Incentive Share Option. Subject to the provisions of Section 5(b) regarding Ten Percent Shareholders, the
exercise price of each Incentive Share Option shall be not less than one hundred percent (100%) of the Fair Market Value of
the Ordinary Shares subject to the Option on the date the Option is granted. Notwithstanding the foregoing, an Incentive
Share Option may be granted with an exercise price lower than that set forth in the preceding sentence if such Option is
granted pursuant to an assumption or substitution for another option in a manner consistent with the provisions of Section
424(a) of the Code.

 

(c)           Exercise
Price of a Nonstatutory Share Option. Subject to the provisions of Section 5(b) regarding Ten Percent Shareholders, the
exercise price of each Nonstatutory Share Option shall be not less than one hundred percent (100%) of the Fair Market Value
of the Ordinary Shares subject to the Option on the date the Option is granted. Notwithstanding the foregoing, a Nonstatutory
Share Option may be granted with an exercise price lower than that set forth in the preceding sentence if such Option is
granted pursuant to an assumption or substitution for another option in a manner consistent with the provisions of Sections
409A and 424(a) of the Code.

 

(d)           Consideration.
The purchase price of Ordinary Shares acquired pursuant to the exercise of an Option shall be paid, to the extent permitted
by applicable law and as determined by the Board in its sole discretion, by any combination of the methods of payment set
forth below. The Board shall have the authority to grant Options that do not permit all of the following methods of payment
(or otherwise restrict the ability to use certain methods) and to grant Options that require the consent of the Company to
utilize a particular method of payment. The methods of payment permitted by this Section 6(d) are:

 

 (i)       by cash or check;

 

    	 	8	 

     

    

 

(ii)       pursuant
to a so-called “same day sale” or “brokered cashless exercise” program developed under Regulation T
as promulgated by the U.S. Federal Reserve Board that, prior to the issuance of Ordinary Shares, results in either the
receipt of cash (or check) by the Company or the receipt of irrevocable instructions by a third party broker to pay the
aggregate exercise price to the Company from the sales proceeds;

 

(iii)       by
delivery to the Company (either by actual delivery or attestation) of Ordinary Shares;

 

(iv)       by
a “cashless exercise” arrangement pursuant to the following formula:

 

X = A x (B - C)

 

B

 

A = the number of vested Options
the Participant requests to exercise as written in the applicable notice of exercise;

 

B = the closing price of an Ordinary
Share on the Stock Exchange, on the last trading day before the applicable notice of exercise, as such closing price is published
by the Stock Exchange;

 

C = the Option exercise price.

 

X = the number of Ordinary
Shares to be issued to the Participant following the cashless exercise of the Options;

 

provided, however, that the
Company shall accept a cash or other payment from the Participant to the extent of any remaining balance of the aggregate exercise
price not satisfied by such holding back of whole shares; provided, however, Ordinary Shares will no longer be outstanding
under an Option and will not be exercisable thereafter to the extent that (i) shares are used to pay the exercise price pursuant
to the “cashless exercise,” (ii) shares are delivered to the Participant as a result of such exercise, and (iii) shares
are withheld to satisfy tax withholding obligations;

 

(v)       according
to a deferred payment or similar arrangement with the Optionholder; provided, however, that interest shall compound at
least annually and shall be charged at the minimum rate of interest necessary to avoid (i) the imputation of interest income
to the Company and compensation income to the Optionholder under any applicable provisions of the Code, and (ii) the
classification of the Option as a liability for financial accounting purposes; or

 

    	 	9	 

     

    

 

(vi)       in
any other form of legal consideration that may be acceptable to the Board.

 

(e)           Exercise
Restriction on Company Event. Notwithstanding any provisions of this Plan, as long as the Company's shares are traded on the
Tel Aviv Stock Exchange Ltd., a Participant may not exercise any Option granted under this Plan on the record date (in the
Tel Aviv Stock Exchange Ltd.) of any one of the following events: (i) distribution of bonus shares; (ii) rights offering;
(iii) distribution of dividend; (iv) consolidation of share capital; (v) split of share capital; (vi) reduction of capital
(each of the above will be referred to below as a "Company Event"). In addition, in the event the ex-day (as
defined in the Tel Aviv Stock Exchange Ltd. regulations) of a Company Event precedes the record date of such Company Event,
the Options granted under this Plan may not be exercised on such ex-day.

 

(f)            Transferability
of Options. The Board may, in its sole discretion, impose such limitations on the transferability of Options as the Board shall
determine. In the absence of such a determination by the Board to the contrary, the following restrictions on the transferability
of Options shall apply:

 

(i)       Restrictions
on Transfer. An Option shall not be transferable except by will or by the laws of descent and distribution and shall be
exercisable during the lifetime of the Optionholder only by the Optionholder; provided, however, that the Board may,
in its sole discretion, permit transfer of the Option to such extent as permitted by Rule 701 of the Securities Act and in a
manner consistent with applicable tax and securities laws upon the Optionholder’s request.

 

(ii)       Beneficiary
Designation. Notwithstanding the foregoing, the Optionholder may, by delivering written notice to the Company, in a form
provided by or otherwise satisfactory to the Company, designate a third party who, in the event of the death of the
Optionholder, shall thereafter be entitled to exercise the Option. In the absence of such a designation, the executor or
administrator of the Optionholder’s estate shall be entitled to exercise the Option.

 

(g)          Vesting
of Options Generally. The total number of Ordinary Shares subject to an Option may vest and therefore become exercisable in periodic
installments that may or may not be equal. The Option may be subject to such other terms and conditions on the time or times when
it may or may not be exercised (which may be based on performance or other criteria) as the Board may deem appropriate. The vesting
provisions of individual Options may vary. The provisions of this Section 6(g) are subject to any Option provisions governing the
minimum number of Ordinary Shares as to which an Option may be exercised.

 

    	 	10	 

     

    

 

(h)          Termination
of Continuous Service. In the event that an Optionholder’s Continuous Service terminates (other than for Cause or upon
the Optionholder’s death or Disability), the Optionholder may exercise his or her Option (to the extent that the
Optionholder was entitled to exercise such Option as of the date of termination of Continuous Service) but only within such
period of time ending on the earlier of (i) the date three (3) months following the termination of the Optionholder’s
Continuous Service (or such longer or shorter period specified in the Option Agreement, which period shall not be less than
thirty (30) days), or (ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after
termination of Continuous Service, the Optionholder does not exercise his or her Option within the time specified herein or
in the Option Agreement (as applicable), the Option shall terminate.

 

(i)            Extension
of Termination Date. If the exercise of the Option following the termination of the Optionholder’s Continuous Service (other
than for Cause or upon the Optionholder’s death or Disability) would be prohibited at any time solely because the issuance
of Ordinary Shares would violate the registration requirements under the Securities Act, then the Option shall terminate on the
earlier of (i) the expiration of a period of three (3) months after the termination of the Optionholder’s Continuous Service
during which the exercise of the Option would not be in violation of such registration requirements, or (ii) the expiration of
the term of the Option as set forth in the Option Agreement.

 

(j)            Retirement
or Disability of Optionholder. In the event that an Optionholder’s Continuous Service terminates as a result of the
Optionholder’s Retirement or Disability, the Optionholder may exercise his or her Option (to the extent that the
Optionholder was entitled to exercise such Option as of the date of termination of Continuous Service), but only within such
period of time ending on the expiration of the term of the Option as set forth in the Option Agreement. If, after termination
of Continuous Service, the Optionholder does not exercise his or her Option within the time specified herein or in the Option
Agreement (as applicable), the Option shall terminate.

 

(k)           Death
of Optionholder. In the event that (i) an Optionholder’s Continuous Service terminates as a result of the
Optionholder’s death or (ii) the Optionholder dies within the period (if any) specified in the Option Agreement after
the termination of the Optionholder’s Continuous Service for a reason other than death, then the Option may be
exercised (to the extent the Optionholder was entitled to exercise such Option as of the date of death) by the
Optionholder’s estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a
person designated to exercise the option upon the Optionholder’s death pursuant to Section 6(e)(ii), but only within
the period ending on the expiration of the term of such Option as set forth in the Option Agreement. If, after the
Optionholder’s death, the Option is not exercised within the time specified herein or in the Option Agreement (as
applicable), the Option shall terminate.

 

(l)            Termination
for Cause. In the event that an Optionholder’s Continuous Service is terminated for Cause, the Option shall terminate immediately
and cease to remain outstanding.

 

    	 	11	 

     

    

 

(m)          Non-Exempt
Employees. No Option granted to an Employee that is a non-exempt employee for purposes of the Fair Labor Standards Act shall
be first exercisable for any Ordinary Shares until at least six (6) months following the date of grant of the Option.
Notwithstanding the foregoing, consistent with the provisions of the Worker Economic Opportunity Act, in the event of the
Participant’s death or Disability, upon a Corporate Transaction in which the vesting of Options accelerates, or upon
the Optionholder’s retirement (as such term may be defined in the Optionholder’s Share Award Agreement or in
another applicable agreement or in accordance with the Company’s then current employment policies and guidelines) any
such vested Options may be exercised earlier than six months following the date of grant. The foregoing provision is intended
to operate so that any income derived by a non- exempt employee in connection with the exercise or vesting of an Option will
be exempt from the employee’s regular rate of pay.

 

		7.	Provisions
                                         of Restricted Share Awards and Restricted Share Units.

 

(a)           Restricted
Share Awards. Each Restricted Share Award Agreement shall be in such form and shall contain such terms and conditions as the
Board shall deem appropriate. To the extent consistent with the Company’s Bylaws, at the Board’s election,
Ordinary Shares may be (x) held in book entry form subject to the Company’s instructions until any restrictions
relating to the Restricted Share Award lapse; or (y) evidenced by a certificate, which certificate shall be held in such form
and manner as determined by the Board. The terms and conditions of Restricted Share Award Agreements may change from time to
time, and the terms and conditions of separate Restricted Share Award Agreements need not be identical; provided,
however, that each Restricted Share Award Agreement shall conform to (through incorporation of the provisions hereof by
reference in the agreement or otherwise) the substance of each of the following provisions:

 

(i)       Consideration.
A Restricted Share Award may be awarded in consideration for (A) cash or cash equivalents, (B) past or future services
actually or to be rendered to the Company or an Affiliate, or (C) any other form of legal consideration that may be
acceptable to the Board in its sole discretion and permissible under applicable law.

 

(ii)       Vesting.
Ordinary Shares awarded under the Restricted Share Award Agreement shall be subject to forfeiture to the Company in
accordance with a vesting schedule to be determined by the Board.

 

(iii)       Termination
of Participant’s Continuous Service. Except as otherwise provided in the applicable Restricted Share Award Agreement,
if a Participant’s Continuous Service terminates, any Ordinary Shares held by the Participant that have not vested as
of the date of termination of Continuous Service under the terms of the Restricted Share Award Agreement will be forfeited
and will revert to the Company.

 

(iv)       Transferability.
Except as otherwise provided in the applicable Restricted Share Award Agreement, rights to acquire Ordinary Shares under the
Restricted Share Award Agreement shall not be transferable by the Participant so long as Ordinary Shares awarded under the
Restricted Share Award Agreement remain unvested.

 

    	 	12	 

     

    

 

(v)       Dividends.
Except as otherwise provided in the applicable Restricted Share Award Agreement, dividends paid on Ordinary Shares subject to
vesting will be subject to the same vesting and forfeiture restrictions as apply to the shares subject to the Restricted
Share Award to which they relate.

 

(b)           Restricted
Share Unit Awards. Each Restricted Share Unit Award Agreement shall be in such form and shall contain such terms and
conditions as the Board shall deem appropriate. The terms and conditions of Restricted Share Unit Award Agreements may change
from time to time, and the terms and conditions of separate Restricted Share Unit Award Agreements need not be identical, provided,
however, that each Restricted Share Unit Award Agreement shall conform to (through incorporation of the provisions hereof
by reference in the Agreement or otherwise) the substance of each of the following provisions:

 

(i)       Consideration.
At the time of grant of a Restricted Share Unit Award, the Board will determine the consideration, if any, to be paid by the
Participant upon delivery of each Ordinary Share subject to the Restricted Share Unit Award. The consideration to be paid (if
any) by the Participant for each Ordinary Share subject to a Restricted Share Unit Award may be paid in any form of legal
consideration that may be acceptable to the Board in its sole discretion and permissible under applicable law. Except as
otherwise provided in the applicable Restricted Share Award Agreement, no consideration shall be required to be paid by the
Participant for any Ordinary Share subject to a Restricted Share Unit Award.

 

(ii)       Vesting.
At the time of the grant of a Restricted Share Unit Award, the Board may impose such restrictions or conditions to the
vesting of the Restricted Share Unit Award as it, in its sole discretion, deems appropriate.

 

(iii)       Payment.
A Restricted Share Unit Award may be settled by the delivery of Ordinary Shares, their cash equivalent, any combination
thereof or in any other form of consideration, as determined by the Board and contained in the Restricted Share Unit Award
Agreement.

 

(iv)       Additional
Restrictions. At the time of the grant of a Restricted Share Unit Award, the Board, as it deems appropriate, may impose such
restrictions or conditions that delay the delivery of the Ordinary Shares (or their cash equivalent) subject to a Restricted
Share Unit Award to a time after the vesting of such Restricted Share Unit Award.

 

(v)       Dividend
Equivalents. Except as otherwise provided in the applicable Restricted Share Award Agreement, dividend equivalents will be
credited in respect of Ordinary Shares covered by a Restricted Share Unit Award, and will be converted into additional
Ordinary Shares covered by the Restricted Share Unit Award. Such additional shares covered by the Restricted Share Unit Award
credited by reason of such dividend equivalents will be subject to all the terms and conditions of the underlying Restricted
Share Unit Award Agreement to which they relate.

 

    	 	13	 

     

    

 

(vi)       Termination
of Participant’s Continuous Service. Except as otherwise provided in the applicable Restricted Share Unit Award Agreement,
such portion of the Restricted Share Unit Award that has not vested will be forfeited upon the Participant’s termination
of Continuous Service.

 

(vii)       Delay
of Settlement on Company Event. Notwithstanding any provisions of this Plan, as long as the Company's shares are traded on the
Tel Aviv Stock Exchange Ltd., the Company may delay the issuance of Ordinary Shares upon the vesting of Restricted Share Unit
Award granted under this Plan until the next business day following the record date (in the Tel Aviv Stock Exchange Ltd.) or the
ex-day (as defined in the Tel Aviv Stock Exchange Ltd. regulations) of a Company Event.

 

(viii)       Compliance
with Section 409A of the Code. Notwithstanding anything to the contrary set forth herein, any Restricted Share Unit Award
granted under the Plan that is not exempt from the requirements of Section 409A of the Code shall contain such provisions so
that such Restricted Share Unit Award will comply with the requirements of Section 409A of the Code. Such restrictions, if
any, shall be determined by the Board and contained in the Restricted Share Unit Award Agreement evidencing such Restricted
Share Unit Award. For example, such restrictions may include, without limitation, a requirement that any Common Share that is
to be issued in a year following the year in which the Restricted Share Unit Award vests must be issued in accordance with a
fixed pre-determined schedule.

 

		8.	Covenants
                                         of the Company.

 

(a)           Availability
of Shares. During the terms of the Share Awards, the Company shall keep available at all times the number of Ordinary Shares required
to satisfy such Share Awards.

 

(b)          Securities
Law Compliance. The Company shall seek to obtain from each regulatory commission or agency having jurisdiction over the Plan such
authority as may be required to grant Share Awards and to issue and sell Ordinary Shares upon exercise of the Share Awards; provided,
however, that this undertaking shall not require the Company to register under the Securities Act the Plan, any Share Award
or any Ordinary Shares issued or issuable pursuant to any such Share Award. If, after reasonable efforts, the Company is unable
to obtain from any such regulatory commission or agency the authority that counsel for the Company deems necessary for the lawful
issuance and sale of Ordinary Shares under the Plan, the Company shall be relieved from any liability for failure to issue and
sell Ordinary Shares upon exercise of such Share Awards unless and until such authority is obtained.

 

    	 	14	 

     

    

 

(c)           No
Obligation to Notify. The Company shall have no duty or obligation to any Participant to advise such holder as to the time or
manner of exercising a Shares Award. Furthermore, the Company shall have no duty or obligation to warn or otherwise advise such
holder of a pending termination or expiration of a Shares Award or a possible period in which the Shares Award may not be exercised.
The Company has no duty or obligation to minimize the tax consequences of a Shares Award to the holder of such Shares Award.

 

		9.	Miscellaneous.

 

(a)           Use
of Proceeds. Proceeds from the sale of Ordinary Shares pursuant to Share Awards shall constitute general funds of the Company.

 

(b)          Acceleration
of Exercisability and Vesting. The Board shall have the power to accelerate the time at which a Share Award may first be exercised
or the time during which a Share Award or any part thereof will vest in accordance with the Plan, notwithstanding the provisions
in the Share Award stating the time at which it may first be exercised or the time during which it will vest.

 

(c)    
      No Employment or other Service Rights. Nothing in the Plan, any Share Award Agreement, or any other
instrument executed thereunder or any Share Award granted pursuant thereto shall confer upon any Participant any right to
continue to serve the Company or an Affiliate in the capacity in effect at the time the Share Award was granted or shall
affect the right of the Company or an Affiliate to terminate (i) the employment of an Employee with or without notice and
with or without cause, (ii) the service of a Consultant pursuant to the terms of such Consultant’s agreement with the
Company or an Affiliate, or (iii) the service of a Director pursuant to the Bylaws of the Company or an Affiliate, and any
applicable provisions of the corporate law of the state in which the Company or the Affiliate is incorporated, as the case
may be.

 

(d)           Incentive
Share Option $100,000 Limitation. To the extent that the aggregate Fair Market Value (determined at the time of grant) of
Ordinary Shares with respect to which Incentive Share Options are exercisable for the first time by any Optionholder during
any calendar year (under all plans of the Company and any Affiliates) exceeds one hundred thousand dollars ($100,000), the
Options or portions thereof that exceed such limit (according to the order in which they were granted) shall be treated as
Nonstatutory Share Options, notwithstanding any contrary provision of the applicable Option Agreement(s).

 

    	 	15	 

     

    

 

(e)           Investment
Assurances. The Company may require a Participant, as a condition of exercising or acquiring Ordinary Shares under any Share
Award, (i) to give written assurances satisfactory to the Company as to the Participant’s knowledge and experience in
financial and business matters and/or to employ a purchaser representative reasonably satisfactory to the Company who is
knowledgeable and experienced in financial and business matters and that he or she is capable of evaluating, alone or
together with the purchaser representative, the merits and risks of exercising the Share Award; and (ii) to give written
assurances satisfactory to the Company stating that the Participant is acquiring Ordinary Shares subject to the Share Award
for the Participant’s own account and not with any present intention of selling or otherwise distributing the Ordinary
Shares. The foregoing requirements, and any assurances given pursuant to such requirements, shall be inoperative if (i) the
issuance of the shares upon the exercise or acquisition of Ordinary Shares under the Share Award has been registered under a
then currently effective registration statement under the Securities Act, or (ii) as to any particular requirement, a
determination is made by counsel for the Company that such requirement need not be met in the circumstances under the then
applicable securities laws. The Company may, upon advice of counsel to the Company, place legends on share certificates
issued under the Plan as such counsel deems necessary or appropriate in order to comply with applicable securities laws,
including, but not limited to, legends restricting the transfer of the Ordinary Shares.

 

(f)           Withholding
Obligations. To the extent provided by the terms of a Share Award Agreement, the Company may, in its sole discretion, satisfy any
federal, state or local tax withholding obligation relating to a Share Award by any of the following means (in addition to the
Company’s right to withhold from any compensation paid to the Participant by the Company) or by a combination of such means:
(i) causing the Participant to tender a cash payment; (ii) withholding Ordinary Shares from Ordinary Shares issued or otherwise
issuable to the Participant in connection with the Share Award; provided, however, that no Ordinary Shares are withheld
with a value exceeding the minimum amount of tax required to be withheld by law (or such lower amount as may be necessary to avoid
classification of the Share Award as a liability for financial accounting purposes); or (iii) by such other method as may be set
forth in the Share Award Agreement.

 

(g)          Compliance
with Section 409A. To the extent that the Board determines that any Shares Award granted hereunder is subject to Section 409A
of the Code, the Shares Award Agreement evidencing such Shares Award shall incorporate the terms and conditions necessary to
avoid the consequences specified in Section 409A(a)(1) of the Code. To the extent applicable, the Plan and Shares Award
Agreements shall be interpreted in accordance with Section 409A of the Code.

 

(h)          Electronic
Delivery. Any reference herein to a “written” agreement or document shall include any agreement or document delivered
electronically or posted on the Company’s intranet.

 

    	 	16	 

     

    

 

(i)            Market
Stand-Off. In connection with any underwritten public offering by the Company of its equity securities pursuant to an
effective registration statement filed under any applicable law in any jurisdiction, the Participant shall not directly or
indirectly sell, make any short sale of, loan, hypothecate, pledge, offer, grant or sell any Ordinary Shares or other
contract for the purchase of, purchase any or other contract for the sale of, or otherwise dispose of or transfer, or agree
to engage in any of the foregoing transactions with respect to, any Ordinary Shares acquired under this Plan without the
prior written consent of the Company or its underwriters. Such restriction (the “Market Stand-Off”) shall be in
effect for such period of time following the date of the final prospectus for the offering as may be requested by the Company
or such underwriters. In the event of a Capitalization Adjustment described in Section 10(a) of the Plan, any new,
substituted or additional securities which are by reason of such transaction distributed with respect to any Share Award
and/or Ordinary Shares acquired under this Plan shall immediately be subject to the Market Stand-Off. In order to enforce the
Market Stand- Off, the Company may impose stop- transfer instructions with respect to the Ordinary Shares acquired under this
Plan until the end of the applicable stand-off period. The Company’s underwriters shall be beneficiaries of the
agreement set forth in this Subsection. Furthermore, the Participant’s right to sell Ordinary Shares is subject to
applicable laws, including in connection with limitation relating to the use of non-public information, if and when
applicable.

 

(j)            Rights
as a Shareholder. Unless otherwise specified in the Plan, a Participant shall not have any rights as a shareholder with
respect to Ordinary Shares issued under this Plan, until such time as the Ordinary Shares shall be registered in the name of
the Participant in the Company’s register of shareholders.

 

(k)           Transfer
of Rights Upon Death. No transfer of any right to an Option or underlying Ordinary Shares issued upon the exercise thereof by will
or by the laws of descent shall be effective to bind the Company unless the Company shall have been furnished with the following
signed and notarized documents:

 

(i)       A
written request for such transfer and a copy of the legal documents creating and confirming the right of the person acting
with respect to the Participant’s estate and of the transferee;

 

(ii)       A
written consent by the transferee to pay any amounts in connection with the Options and the underlying Ordinary Shares any
payment due according to the provisions of the Plan and otherwise abide by all the terms of the Plan; and

 

(iii)       any
such other evidence as the Board may deem necessary to establish the right to the transfer of the Option or underlying
Ordinary Shares issued upon the exercise thereof and the validity of the transfer.

 

		10.	Adjustments
                                         Upon Changes in Ordinary Shares; Corporate Transactions.

 

(a)           Capitalization
Adjustments. Upon the happening of any of the following described events, a Participant's rights to purchase Ordinary Shares under
the Plan shall be adjusted as hereinafter provided.

 

    	 	17	 

     

    

 

(i)       In
the event that the Ordinary Shares of the Company are subdivided or combined into a greater or smaller number of shares or
if, upon a Corporate Transaction, consolidation, reorganization, recapitalization or the like, the Ordinary Shares of the
Company are exchanged for other securities of the Company or of another corporation, each Participant shall be entitled,
subject to the conditions herein stated, to purchase such number of Ordinary Shares or amount of other securities of the
Company or such other corporation as were exchangeable for the number of Ordinary Shares of the Company which such
Participant would have been entitled to purchase except for such action, and appropriate adjustments shall be made in the
purchase price per share to reflect such subdivision, combination or exchange.

 

(ii)       Upon
the happening of the foregoing event, the class and aggregate number of Ordinary Shares issuable pursuant to the Plan, in
respect of which Share Awards have not yet been granted, shall also be appropriately adjusted to reflect the events specified
in Section 10(a)(i) above.

 

(iii)       The
Committee shall determine the specific adjustments to be made under this Section 10(a), and its determination shall be
conclusive.

 

(b)           Corporate
Transactions. The following provisions shall apply to Share Awards in the event of a Corporate Transaction unless otherwise
provided in the instrument evidencing the Share Award or any other written agreement between the Company or any Affiliate and
the holder of the Share Award or unless otherwise expressly provided by the Board at the time of grant of a Share Award.
Except as otherwise stated in the Share Award Agreement, in the event of a Corporate Transaction, then, notwithstanding any
other provision of the Plan, the Board shall, in its sole discretion, take one or more of the following actions with respect
to Share Awards, contingent upon the closing or completion of the Corporate Transaction:

 

(i)       arrange
for the surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company) to
assume or continue the Share Award or to substitute a similar share award for the Share Award (including, but not limited to,
an award to acquire the same consideration paid to the shareholders of the Company pursuant to the Corporate
Transaction);

 

(ii)       arrange
for the assignment of any reacquisition or repurchase rights held by the Company in respect of Ordinary Shares issued
pursuant to the Share Award to the surviving corporation or acquiring corporation (or the surviving or acquiring
corporation’s parent company);

 

(iii)       accelerate
the vesting of the Share Award (and, if applicable, the time at which the Share Award may be exercised) to a date prior to
the effective time of such Corporate Transaction as the Board shall determine (or, if the Board shall not determine such a
date, to the date that is five (5) days prior to the effective date of the Corporate Transaction), with such Share Award
terminating if not exercised (if applicable) at or prior to the effective time of the Corporate Transaction;

 

(iv)       arrange
for the lapse of any reacquisition or repurchase rights held by the Company with respect to the Share Award;

 

    	 	18	 

     

    

 

(v)       cancel
or arrange for the cancellation of the Share Award, to the extent not vested or not exercised prior to the effective time of
the Corporate Transaction, and pay such cash consideration (including no consideration) as the Board, in its sole discretion,
may consider appropriate; and

 

(vi)       make
a payment, in such form as may be determined by the Board equal to the excess, if any, of (A) the per share value payable to
holders of Ordinary Shares in connection with the Corporate Transaction, over (B) any exercise price payable by such holder
in connection with such exercise, if applicable. For clarity, this payment may be $0 if the per share value of the payments
to holders of Ordinary Shares is equal to or less than the exercise price of the Share Award. In addition, any escrow,
holdback, earnout or similar provisions in the definitive agreement for the Corporate Transaction may apply to such payment
to the same extent and in the same manner as such provisions apply to the holders of Ordinary Shares.

 

The Board need not take the same
action with respect to all Share Awards or with respect to all Participants.

 

		11.	Restrictions
                                         on Sale

 

Unless stated otherwise
in the Share Award Agreement, all shares resulting from the exercise of Options and Restricted Shares Units Awards, together with
the Restricted Shares (collectively "Exercise Shares") shall be subject to the following restrictions on sale
on the Stock Exchange:

 

(a)           Subject
to applicable law and to the consent of the Participant (if required under applicable law), all Exercise Shares shall remain
held by a trustee (and will not be released to the Participant) until they are sold (on or off the Stock Exchange) by the
trustee in accordance with the instructions of the Participant.

 

(b)          The
total number of Exercise Shares sold (or otherwise disposed) for the account of the Participants, collectively, on the Stock
Exchange in any given trading day, shall not exceed the average daily reported volume of trading in the Company's shares on
the Stock Exchange during the 30 trading days preceding the date of execution of the sale (the "Maximum
Amount").

 

(c)           If
and to the extent that the trustee shall receive requests from Participants to sell Exercise Shares, on a certain day, in a total
amount that exceeds the Maximum Amount, then the trustee shall only sell the Maximum Amount of Exercise Shares where each Participant's
sale request will be partially executed (pro rata to the number of Exercise Shares that the Participant requested to sell out of
the total amount of Exercise Shares that all the Participants requested to sell on that day).

 

(d)          For
the purposes of this Section, all calculations will be done by the Company and the trustee. Calculation will be final, and the
Participants shall have no claims or demands against the Company and/or the trustee or anyone on their behalf.

 

    	 	19	 

     

    

 

(e)           The Administrator may resolve, in its sole discretion, to amend or update the above restrictions from time to time and to apply
such revised restriction to both future grants and to existing Share Awards .

 

		12.	Amendment
                                         of the Plan And Share Awards.

 

(a)           Amendment
of Plan. Subject to the limitations, if any, of applicable law, the Board at any time, and from time to time, may amend the
Plan. However, except as provided in Section 10(a) relating to Capitalization Adjustments, no amendment shall be effective
unless approved by the shareholders of the Company to the extent shareholder approval is necessary to satisfy applicable
law.

 

(b)          Shareholder Approval. The Board, in its sole discretion, may submit any other amendment
to the Plan for shareholder approval.

 

(c)           Contemplated
Amendments. It is expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary or advisable
to provide eligible Employees with the maximum benefits provided or to be provided under the provisions of the Code and the regulations
promulgated thereunder relating to Incentive Share Options and/or to bring the Plan and/or Incentive Share Options granted under
it into compliance therewith.

 

(d)           No
Impairment of Rights. Rights under any Share Award granted before amendment of the Plan shall not be impaired by any amendment
of the Plan unless (i) the Company requests the consent of the affected Participant, and (ii) such Participant consents in writing.

 

(e)           Amendment
of Share Awards. The Board, at any time and from time to time, may amend the terms of any one or more Share Awards; provided,
however, that the rights under any Share Award shall not be impaired by any such amendment unless (i) the Company requests
the consent of the affected Participant, and (ii) such Participant consents in writing.

 

		13.	Termination
                                         or Suspension Of the Plan.

 

(a)           Plan
Term. The Board may suspend or terminate the Plan at any time. Unless sooner terminated, the Plan shall terminate on the day
before the tenth (10th) anniversary of the Restatement Date. No Share Awards may be granted under the Plan while the Plan is
suspended or after it is terminated.

 

(b)           No
Impairment of Rights. Suspension or termination of the Plan shall not impair rights and obligations under any Share Award granted
while the Plan is in effect except with the written consent of the affected Participant.

 

    	 	20	 

     

    

 

		14.	Effective
                                         Date of Plan.

 

The Plan shall
become effective as of the date this plan is adopted by the Board.

 

		15.	Choice
                                         of Law.

 

The law of the
State of Israel shall govern all questions concerning the construction, validity and interpretation of this Plan, without regard
to that state’s conflict of laws rules.

 

    	 	21

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