Document:

EX-10.13

 Exhibit 10.13 

Employment Agreement 
  

 
 This Agreement entered into on 25 April, 2021, by and between Security Matters Ltd., Israeli company number 51-512577-1 of Ketura, Israel (“Company”) and Limor Moshe Lotker, Israeli ID number 028019743 of 4 Bernshtein cohen, Ramat Hasharon, Israel
(“Employee”). Each a “Party” and, together, the “Parties”. 
  
 

 
 Whereas Employee has offered its services to Company and Company desires to engage Employee; 

 
 

 
 NOW THEREFORE, the parties hereto hereby declare and agree as follows: 

 
 

 
  

	1.	 Position 

  

 
  

	 	1.1	 Company hereby engages Employee in the position described in Annex A. The responsibilities shall include
those stipulated in the list in Annex A, as may be amended from time to time by the Company. 

  

 
  

	 	1.2	 During the term of this Agreement, Employee shall devote Employee’s full time and attention to the
business of Company and perform Employee’s duties diligently and in furtherance of Company’s best interest. Employee will not be entitled to receive consideration from any client of Company other than with the prior written approval of
Company. in addition, Employee shall not be entitled to work in any other place without approval of Company unless otherwise specified in the annex hereto. 

  

 
  

	 	1.3	 Employee shall be subject to Company policies relevant to it, as published from time to time and as updated by
Company from time to time. 

  
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	 	1.4	 Employee is aware of the fact that Employee’s engagement by Company may involve domestic and international
travel and may require him to work outside the regular place of work from time to time for short durations. In the event that Employee shall be required to fly on a flight longer than 6 hours, Company will provide tickets on economy plus or
equivalent. 

  
 

 
 Confidential Information, Invention Assignment, Competition and Solicitation 

 
 

 
  

	 	1.5	 Without derogating from any right of Company under law, Employee hereby acknowledges and represents to have
read and understood, and covenant to comply with, the confidential information, invention assignment, non-competition and non-solicitation and other undertakings as
attached hereto as Annex B, which constitutes an integral part of this Agreement. 

  
 

 
  

	 	1.6	 Employee shall use the facilities of Company and its assets only for the furtherance of Employee’s
obligation under this Agreement and pursuant to Company’s procedures as such shall be set from time to time. Private use of Company’s computer, communication or media, including computers, c-mail
etc. (such media means supplied to Employee by Company, “Media”) shall not be made except pursuant to Company’s procedures and at a reasonable volume. Employee acknowledges that any data transferred through or stored at the
Media is deemed property of Company and Employee hereby irrevocably grants Company full permission to review the Media at any time, including such Media that has been used by Employee for private uses and including reading of any email
correspondence, WhatsApp messages, visual media, SMS’s etc. Employee shall promptly, upon first request of Company, furnish Company with all data required for such review, including passwords. 

Only if a client from the security field so demands (whether specifically as to the employee or a general demand to all employees working on
such project), Employee covenants to pass, per request of Company, a security check or other credibility test, including by a third party, including polygraph, which results will be admissible for any use in a case between Employee and Company. 

Upon termination of employment, or at any other time at Company’s full discretion, Company may block access of Employee to any Media,
designate any Media mean to any other employee or officer or direct any correspondence, to ensure continuation of work or for any other purpose. Any such action shall not be deemed any decision or act regarding continuation of employment (or be
deemed dismissal or deterioration of work terms) and may be reversed at any time by Company. 

  
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 Employee represents as to the actions described in this section that Employee will not raise
any claim of privacy or interference with human honor and dignity, and Company represents that if there is any interference, it will be for a proper purpose of protecting interest of Company and in a manner that is not more than required. 

 
 

 
  
 

 
  

	 	1.7	 Access Restriction- Employee shall manage, maintain and backup all databases within Employee’s
responsibility and shall not use Employee’s rights of access to databases for private uses, including access to restrictive or private data as to Employee or any other person or entity. 

 
 

 
  

	 	1.8	 Respect of Other’s IP- Employee shall not, in the providing of
services to Company infringe on intellectual rights of any third parties and shall immediately bring to Company’s any suspected infringement on Company’s intellectual property rights and any suspected infringement of Company on
intellectual property rights of others. 

  
 

 

  
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	 	1.9	 Employee acknowledges that the remuneration and other terms of engagement include compensation for
Employee’s obligations pursuant to this §0 as detailed in Annex A. Employee agrees that any breach of this §0 or the annex hereto may cause irreparable damage to Company and its parent company and their affiliates (which shall
be deemed a third party beneficiary under this Agreement) and that in the event of such breach, each of such shall have, in addition to any and all other remedies at law, the right to seek to obtain an injunction, preliminary or otherwise, in order
to prevent Employee from breaching this §0, all without the requirement to post any security for expenses. 

  

 
  

	2.	 Terms of Engagement of Employee by Company 

 
 

 
 Engagement of Employee with Company shall commence at the date stipulated in Annex A hereto and shall be at
the conditions stipulated in Annex A. 
  
 

 
  

	3.	 Prevention of Sexual Harassment 

 
 

 
 Company sees violations of the Law for Prevention of Sexual Harassment-1998 in a severe light. Employee
acknowledges being informed of Company’s policy regarding sexual harassment;, including the existence of Company guidelines for the prevention of sexual harassment that may be received at
any time from the person in charge of enforcing such law in Company. 
  
 

 
  

	4.	 Miscellaneous 

  

 
  

	 	4.1	 This Agreement constitutes the entire understanding and agreement between the Parties and supersedes any and
all prior discussions, agreements and correspondence with regard to the subject matter hereof and relating to the employment relations between the Parties. Any prior agreement between the Parties, which relates to employment relations, is hereby
canceled without either party having any rights under it. Nothing in this provision shall derogate from any right of Company under any of proprietary information, invention assignment. non-competition or non-solicitation undertaking. 

  
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	 	4.2	 Each Party represents and warrants to the other Party that the execution of this Agreement and the fulfillment
of its terms (i) does not constitute a breach of, or conflict with, any agreement to which such Party is a party, or other undertaking by which it is bound, and (ii) does not require the consent of any person or entity.

  
 

 
  

	 	4.3	 Any amendment or modification of this Agreement shall be in a writing specifically referring to this Agreement
and duly executed by both parties. 

  
 

 
  

	 	4.4	 Personal Contract. Employee is an employee of the Company. This Agreement is a personal agreement and thus,
subject to applicable law, no collective bargaining agreement shall apply, excluding collective bargaining agreements that apply to all employees in the market. 

 
 

 
  

	 	4.5	 Taxes. Company may deduct tax at source. Each of the Parties shall timely file any report required by the tax
authorities and shall furnish the other Party with any document reasonably required to transfer to the tax authorities. If Company did not deduct any amount and will be later required to pay it Company may deduct it at any stage in the future or
demand Employee to pay it in any other manner. 

  
 

 
  

	 	4.6	 This Agreement is for the benefit of the Parties, including their heirs and assigns, and shall not vest any
right with any third party. 

  
 

 
  

	 	4.7	 The laws of the State of Israel shall exclusively govern this Agreement and the competent courts of Tel Aviv
shall have sole and exclusive jurisdiction in any matter arising out of or relating to this Agreement. 

  
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	 	4.8	 No waiver of any right under this Agreement shall be deemed effective unless in a writing signed by the Party
charged with such waiver, and no waiver of any right shall be deemed to be a waiver of any future right or any other right arising under this Agreement. 

  

 
  

	 	4.9	 The Preamble and Annexes to this Agreement constitute an integral part thereof. Headings arc included for
reference purpose only and are not to be used in interpreting this Agreement. The word “including” shall mean including without limitation. In any contradiction between this Agreement and Annex B, Annex B shall govern. In any contradiction
between (i) this Agreement and Annex B; and (ii) Annex A; Annex A shall govern. 

  
 

 
  

	 	4.10	 Announcements and Insiders Trading. Company is a wholly held subsidiary of an Australian publicly traded
company and may thus be subject to certain public disclosures obligation. Employee hereby consents to be named in any such publication. Employee is aware that in the consummation of this Agreement Employee may be exposed to inside information or
other confidential data of Company and its publicly traded mother company and hereby covenants not to disclose such data or use it for trading in securities of the mother company by Employee or any other person. 

 
 

 
  

Employee hereby certify, it was recommended to him by the Company to receive legal advice in connection with this Agreement
before signing and that he was given adequate opportunity to do so. In case of conflict between the English version and the Hebrew version, the English version shall govern. 
  

 

  
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 Annex A - Terms of Engagement
            

 
 Annex A dated 25 April, 2021, to that certain agreement (“Agreement”) entered into on
25 April, 2021, by and between Security Matters Ltd., Israeli company number 51.512577-1 of Ketura, Israel (“Company”) and Limor Moshe Lotker, Israeli ID number 028019743 of 4 Bernshtein
when, Ramat Hasharon, Israel (“Employee”). 
  
 

 
 This document is also a notice of terms of employment as required under law. 

 
 

 
  

	
	 1.  Appointment and Position

  

	 	1.1	 Employee wilt provide his services to Company as VP-CFO and will report
directly to the CEO of Company—a position that requires a special measure of personal trust, with all that is implied. 

Employee position shall include, among other things, responsibility for ISO qualification, management of Company grants (including, chief
scientist, horizon Europe, BIRD, etc.) and any other reasonable task required by virtue of the position and which Company will require in the ordinary course of its business. 
  

 
  

	 	1.2	 Employee is employed on full time basis as employee of Company. 

 
 

 
  

	 	1.3	 An ordinary working week of work of Employee shall be 8.36 hours a day for 5 days and the weekly rest
day of Employee shall be Saturday. 

  
 

 
  

	 	1.4	 It is expressly agreed that the salary of Employee includes payment for overtime which is required of Employee
because the position of Employee in Company is a position that requires a special degree of personal confidence, conditions of employment of Employee and the circumstances do not allow Company in some cases to control the working hours.

  
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	2.	 Remuneration

 

  

	 	2.1	 As consideration for the work of Employee and other obligations of Employee hereunder Company will pay Employee
a gross monthly salary (“Base Salary”), in the amount of ILS 45,000 per month. The Base Salary includes a global payment for an average of 20 extra hours every month, but Company will not be required to pay for any additional hours.

 Employee shall be entitled to educational fund (Keren Hishtalmut) at the rate of 7.5% of the amount
stipulated in this §2.1. 
  

	 	2.2	 Pursuant to a financial event (such as an investment of financing event) of at least 40mil USD, the
Employee’s base salary shall be increased to ILS 55,000 per month. 

  
 

 
  

	 	2.3	 In addition to the above base salary, Employee shall be entitled (subject to the term below) to bonuses as
detailed herein: 

  

	 	2.3.1	 In the event that Company receives an investment of 40,000,000 prior to the end of a the end of a certain
calendar year, the relative amount (annual bonus divided by number of months since previous bonus) of the annual bonus due to Employee at the time of the investment shall be awarded prior to the end of the year. 

 

	 	2.3.2	 An annual, conditional on performance bonus, at an amount which shall be determined by Company’s CEO, and
in any event subject to a financial event (such as an investment of financing event) in an amount above USD 20,000,000. 

  

 
  
 

 
  
 

 

  
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	 	2.4	 Company will deduct and pay form the Base Salary and any payment made to Employee all deductions for all
applicable taxes and withholdings required under law or this Agreement. 

  
 

 
  

	3.	 Employee is entitled on approval by the Board of Directors of Company (and subject thereto) to receive options
to purchase 200,000 Ordinary shares of Company, subject to the terms of Company’s applicable Stock Option Plan and an Option Agreement and execution of an option agreement, 25% of which shall become available at the end of a year of
Employee’s employment with Company and 25% more shall vest every year after that. Employee acknowledges that it will be required to execute additional documents in compliance with the applicable tax laws and/or other applicable laws.

 In the event of a financial event (such as an investment of financing event) in an amount above USD 40,000,0000,
Employee shall be entitled to an additional one-time option allocation of 200,000 additional options. Vesting terms to be determined by the parties. 

 
 

 
  

	4.	 Company will bear Employee’s car expenses, as follows: Fuel (fueling in the Avrech chain with a Company,
cost of Road 6 use using a Pascal system and a general payment of ILS 2,000 net (in salary) to cover any other expense related to a vehicle, and in lieu of a company car. 

 
 

 
  

	5.	 Employee shall be entitled to 24 days Annual Leave. The dates and times of the leave shall be coordinated in
advance with Company. 

  
 

 
 Sick Leave and Recuperation Days as set by law. Employee shall be entitled to 

 
 

 

  
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	 6.  Application of Section 14 (“Section 14”) of
the Severance Pay Law, 1963

 

  

	 	6.1	 It is hereby specifically agreed that upon termination of employment, Company shall release to the Employee all
amounts accrued in the pension and severance pay funds, as the case shall be, on account of both Company’s and Employee’s contributions, including in similar funds outside of Israel. All, in accordance with the General Permit promulgated
by the Minister of Labor on June 30, 1999 (“Permit”)1 pursuant to Article 14 of the Severance Pay Law. Employee hereby acknowledges that the amounts contributed by Company
for severance payment in any manner shall be deemed to be made instead of the severance payments to which Employee may be entitled under the provisions of the Severance Pay Law, and shall constitute a full and complete payment thereof.

  
 

 
  

	 	6.2	 Company hereby waives any entitlement and/or right for reimbursement with respect to the Severance Payment and
acknowledges, that upon termination of Employee’s employment in Company, including inter alia, in the event of Employee’s resignation, Company shall release the Severance Payment and shall transfer them to Employee, except in the event
that: (i) Company terminated Employee’s engagement due to circumstances under which Employee’s entitlement for severance payment is denied pursuant to Articles 16 or 17 of the Severance Pay Law; or (ii) Employee already withdrawn
funds from the fund and not because of an “Entitling Event” under section 2(b) of the Permit. 

  

 
  

	7.	 Payment for the obligations in Annex B 

 
 

 
 A third of any payment or other consideration under this Agreement is remuneration for the non-Competition of Employee as described in Annex B. 
  
 

 
  

	
	 8.  Term     

  

	 	8.1	 Engagement of Employee by Company shall be as of 26.5.2021. 

 
 

 
  

	 	8.2	 Employee shall be required to give Company 90 days prior notice in the event of termination of this employment
agreement. 

  
 

 
  

	1 	 https://employment.molsa.gov.il/Employment/WorkRights/EmploymentTermination/documents/ishursaif14.pdf

  
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 Annex B—Proprietary Information, Invention Assignment, non-Competition and non-Solicitation Undertaking 
  
 

 
 Annex B dated 25 April, 2021, to that certain agreement (“Agreement”) entered into on 25 April,
2021, by and between Security Matters Ltd., Israeli company number 51-512577-1 of Ketura, Israel (“Company”) and Limor Moshe Lotker, Israeli ID number
028019743 of 4 Bernshtein cohen, Ramat Hasharon, Israel (“Employee”). In this Annex B, the term “Company” shall mean Security Matters Ltd. Israeli company number 51-512577-6, Security Matters Limited, Australian company number 626 192 998, and any corporation in which any of which holds (directly or indirectly) shares. In this Annex B, if Employee will
hold equity in Company, Employee’s engagement with the Company shall be deemed to exist as long as Employee holds equity in Company. 
  

 
 WHEREAS, Company and each of its current or future mother companies, subsidiaries, affiliates, successors or assigns
conduct business that includes, without limitation, using a hidden chemical-based `barcode’ to permanently and irrevocably `mark’ any object, be it solid, liquid or gas, whereas the ‘barcode’ may be read using a unique
`reader’ to access the corresponding stored data, recorded and protected using blockchain and other digital technology (including blockchain, architecture, user interface and ledger, whether in general or for circular economy, closed loop and
sustainability, and those that are designed to withhold circular economy data, including economic methods and measuring methods, marking method on the matter of transformation from carbon credit to plastic credit, plastic certification and trading
of plastic credit and plastic recycled commodity on blockchain) (“SMX Technology”); 
 It was agreed as follows: 

 
 

 

  
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	1.	 Confidentiality 

  

	 	1.1	 Employee acknowledges and agrees that Employee may have access to confidential and proprietary information
concerning the business and financial activities of Company and information and technology from Company’s product research and development, including without limitation, Company’s banking, investments, investors, properties, employees
(including terms of employment), marketing plans, customers, suppliers, trade secrets, test results, processes, data, know-how, improvements, inventions, techniques and products (actual or planned). Such
information, whether written, oral or in any medium or form (including any confidential or proprietary information received from third parties under Company’s obligation to maintain the confidentiality of such information), shall be referred to
as (“Proprietary Information”). 

 Notwithstanding anything to the contrary, any intellectual property
rights related to the SMX Technology (including any deliverable, including any presentation, working document, scientific analysis, lab report, test results, business model, chosen materials, blockchain system architecture or any other architecture,
software and code) or any other integrated solutions for marking, reading, authenticating and tracking and tracing of raw materials mediums (e.g. solids, liquids or gases) and the use of proprietary blockchain technology for the storage and
subsequent recall of embedded marker readings, or other technology of Company, shall be exclusively owned by Company and deemed Confidential Information of Company. 
  

 
  

	 	1.2	 Proprietary Information shall NOT include information that (i) shall have become a part of the public
knowledge except as a result of Employee’s breach of this Agreement; or (ii) was known to Employee prior to Employee’s association with Company and can be so proven by documentation; (iii) reflects information and data generally
known to the industries or trades in which Company operates. 

  
 

 
  

	 	1.3	 Employee recognizes that Company has received, and will receive, confidential or proprietary information from
third parties subject to a duty on Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. In connection with such duties, such information shall be deemed Proprietary Information
hereunder, mutatis mutandis. 

  
 

 

  
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	 	1.4	 Employee agrees and declares that all Proprietary Information, patents, trademarks, copyrights and other rights
in connection therewith shall be the sole property of Company and its assigns. At all times, both during Employee’s engagement by Company and after its termination, Employee will keep in confidence and trust all Proprietary Information and will
not use or disclose any Proprietary Information or anything relating to it without the written consent of Company except as may be necessary in the ordinary course of performing Employee’s’ duties hereunder or by applicable law.

  
 

 
  

	 	1.5	 Upon termination of Employee’s engagement by Company, Employee will promptly deliver to Company all
documents and materials of any nature pertaining to Employee’s work with Company and will not take with Employee any documents or materials or copies thereof containing any Proprietary Information. Additionally, Employee shall furnish Company
with written confirmation of return of all Confidential Information to Company. 

  
 

 
  

	 	1.6	 This §1 shall remain in full force and effect even after the termination of Employee’s engagement
with Company or the termination or expiration of the Agreement. 

  
 

 
  

	2.	 Disclosure and Assignment of Inventions 

 
 

 
  

	 	2.1	 From and after the date Employee first became engaged with Company, Employee undertakes and covenants that
Employee will promptly disclose in confidence to Company any and all inventions, improvements, designs, concepts, techniques, methods, systems, processes, know how, computer software programs, databases, mask works and Proprietary Information of any
kind whatsoever, whether or not patentable, copyrightable or protectable as trade secrets, that are made or conceived or first reduced to practice or created by Employee, either alone or jointly with others, during the period of Employee’s
engagement and relating to the Company’s Business (“Inventions”). 

  
 3 

 

 
  

	 	2.2	 To the extent permitted by law, Employee further agrees that all Inventions that (a) are developed using
equipment, supplies, facilities or trade secrets of Company, (b) result from work performed by Employee for Company, or (c) relate to Company’s business (covert track and trace marking, reading and retaining and transferring data
using blockchain technology) or current or anticipated fields in which Company invested resources during the employment of Employee; are and will be the sole and exclusive property of Company (“Company inventions”).

  
 

 
  

	 	2.3	 Employee hereby irrevocably: (i) assigns to Company, whenever and in perpetuity, any right, title and
interest, whether now existing or later arising, that Employee may have in or to all worldwide patents, patent applications, copyrights, mask works, Proprietary Information and other intellectual property rights in any Company Invention, and any and
all moral rights that Employee may have in or with respect to any Company Invention and grunts Company the right and power, in Employee’s name and on Employee’s behalf, as Employee’s attorney-in-fact (which shall survive Employee’s death or disability) to sign any instrument necessary to effect such assignment, which power is coupled with an interest of Company; provided that Company
has furnished Employee (or his heirs or those coming in his place and stead) with a 30-day advance written notice of its intent to so exercise its right and power as Employee’s attorney-in-fact (ii) waives and agrees not to enforce any right that Employee may now have or later acquire limiting Company’s ability to own or exploit Company
Inventions; and (iii) agrees, to take any lawful action, which Company requests, and at Company’s expense, to vest or protect Company’s right, title and interest in and to any Company Invention in any and all countries.

  
 

 

  
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	 	2.4	 This Agreement shall apply notwithstanding the provision or
non-provision of any notice of an invention and/or company response to any such notice, under law including under Section 132(b) of the Israeli Patent Law, 1967 (“Patents Law”). This
Agreement is expressly intended to be an agreement with regard to the terms and conditions of consideration in accordance with the law including Section 134 of the Patent Law. The Employee acknowledges and agrees that it will not be entitled to
additional royalties, consideration or other payments with regard to any Company Inventions or any of the intellectual property rights set forth herein, including any commercialization of such, and does hereby explicitly, irrevocably and
unconditionally waive the right to receive any such additional royalties, consideration or other payments. Without derogating from the aforesaid, Employee’s level of compensation and consideration has been established based upon the
aforementioned waiver of rights to receive any such additional royalties, consideration or other payments, and Employee’s compensation as supplier of services to Company includes full and final compensation and consideration to which Employee
may be entitled under any law with respect to any Inventions or any of the intellectual property rights set forth herein. 

  

 
  

	3.	 Non-Competition, Non Interference, and
Non-Solicitation of Customers; Corporate Opportunity 

  
 

 
  

	 	3.1	 While engaged by Company and for a period of 12 months thereafter (Regardless of the reason of the termination
of Employee’s engagement with Company), directly or indirectly, whether alone or as a partner, officer of Company, director, proxy or shareholder of any entity, Employee: 

 
 

 
  

	 	3.1.1	 shall not, work for or promote the interest of a competitor of Company; shall not engage with any business
activity in Israel or in other place that compete with Company activities (In this article Company also refers to Mother, sister or daughter company) or any activity that was planned, financed by Company at any stage of the engagement.
Notwithstanding the previous sentence, Employee is not restricted from holding shares of a public company as long as he Employee is not interested party (as defined in the Securities Law—1968) of such public company or fulfilling any active
part at the said public company; 

  
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	 	3.1.2	 shall not solicit, induce, recruit or encourage any of Company’s employees to leave their employment, or
acts in a manner that might cause some employees now work for any third party in any activity that may cause the employee to breach any agreement with Company; 

 
 

 
  

	 	3.1.3	 Shall not solicit, seduce, or persuade a customer or supplier of Company: 1) to be a customer or supplier of a
competitor; or 2) to terminate the relationship with Company; and 

  
 

 
  

	 	3.1.4	 In addition, Employee will not assist any person to act as described in sections 3.1.1 to 3.1.3 above.

  
 

 
  

	 	3.2	 During the term of engagement with Company, and for a period of two years immediately following the termination
or expiration of the Employee’s engagement with Company for any reason, whether with or without cause, Employee shall not, either directly or indirectly: 

 
 

 
  

	 	3.3	 take any action, including, without limitation, the making of disparaging statements concerning Company or its
officers, directors or employees, that is reasonably likely to damage any relationship between Company and any of its officers, directors, employees, agents, independent contractors, suppliers, clients and customers or damage the share price of
Company; 

  
 

 
  

	 	3.4	 Interfere, with the relationship between Company and any of its employees, agents, independent contractors,
suppliers, clients and customers; 

  
 

 
  

	 	3.5	 Interfere or attempt to interfere with any transaction with which company was, is or intends to be involved,
including by approaching any of the directors, company secretary, chairman or other officers without prior written authorization of the CEO. 

  
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	 	3.6	 During the term of engagement, Employee shall promptly bring to the attention of Company any Corporate
Opportunity (as defined below) and shall refrain from pursuing such Corporate Opportunity for Employee’s personal gain or the gain of a third party. In this §3.2 any prospect, endeavor or opportunity for commercial development that relates
directly to Company’s Business shall be deemed a “Corporate Opportunity”. 

  
 

 
  

	 	3.7	 Employee shall immediately inform Company of any transactions or other matters that may in any way raise a
conflict of interest between Employee and Company. 

  
 

 

  
 7 

 Annex C - Current/Prior Inventions
            

 
 Annex C dated 25 April, 2021, to that certain agreement (“Agreement”) entered into on
25 April, 2021, by and between Security Matters Ltd., Israeli company number 51-512577-1 of Ketura, Israel Ramat Bernshtein cohen, 4 of
028019743(“Company”) and Limor Moshe Lotker, Israeli ID number Israel Hasharon (“Employee”). 
  

 
 I, the undersigned, represent and warrant that except as specifically set forth herein below, as of the day of my first
engagement with the Company, l have not, in any time in the past made, alone or jointly with others, conceived, reduced to practice or created any Inventions related in any way, directly or indirectly, to the field of business of the Company, or to
current or anticipated research and development, and have no rights, as coinventor or otherwise, in any such Inventions: 
  

	 	☐	 THERE ARE NONE. 

  

	 	☐	 THERE ARE THE FOLLOWING (STATE ANY AND ALL INVENTIONS). 

 
 

 
 IF EMPLOYEE EXECUTES THIS ANNEX BUT REFRAINS FROM MARKING EITHER OF THE BOXES ABOVE, EMPLOYEE SHALL BE DEEMED TO HAVE
MARKED THE BOX LABELLED “THERE ARE NONE”, WHICH MEANS EMPLOYEE HAS NOT MADE, CONCEIVED, REDUCED TO PRACTICE OR CREATED ANY INVENTIONS AS DESCRIBED ABOVE. 
  

 
 To the extent that any inventions are listed above, as well as with respect to any future and related developments and
improvements thereto, whether or not patentable or registrable, copyrightable or protectable as trade secrets (collectively, “Employee Inventions”): 
  

 
  

	 	3.8	 Employee shall not use any Employee Inventions in the performance of any tasks as an employee of the Company,
and I shall not disclose any proprietary information related to the Employee Inventions to any Company personnel (managers, employees, consultants, etc.). 

 

 
  

	 	3.9	 Notwithstanding the aforesaid, to the extent that any Employee Inventions are found to have been incorporated
into, included in or otherwise used in conjunction or in connection with any Company intellectual property, and specifically any Company Inventions, or to the extent that any Company intellectual property, and specifically any Company Inventions,
arc found to be based or relying on any Employee Inventions or making use thereof in any manner, Employee hereby irrevocably grant the Company and its assignees a worldwide, irrevocable, transferable, free of any charge or royalties, license and
right to use the Employee Inventions to such extent. Employee hereby agree and undertake not to raise any claims against the Company or its assignees with respect to any such use of Employee Inventions, entitlement to any compensation or
consideration, or any “Moral Rights” in such Employee Inventions (“Moral Rights” mean any rights under judicial or statutory law of any country in the world, or under any treaty, regardless of whether or not such right is
denominated or generally referred to as a “moral right”). 

  
 

 
  

							
	
                 
	 		 		 	
                 

	

 Employee	 		 		 	

 Company

 

 

 

 

  
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 3EX-10.14

 Exhibit 10.14 

 
 

 
  

			
	Annex A — Terms of Engagement	  	

 Annex A dated as of commencement of trading on NASDAQ of a company wholly holding (indirectly) the Company, to that certain
agreement (“Agreement”) entered into as of the date executed, by and between Security Matters Ltd., Israeli company number 51-512577-1 of Ketura, Israel
(“Company”) and Haggai Alon, Israeli ID number 025599838 of Naan, Israel (“Employee”). 
  

 
 This document replaces any prior Annex A and Al and is also a notice of terms of employment as required under law. 

 
 

 
  

	
	 1   Amendment –

  

	 	1.1	 The following words shall be deleted from Section 5.7 of the Agreement “other than matters that
relate to Australian law, or the rules of a relevant financial market, in which case, those provisions shall be interpreted in accordance with the laws of the State of Victoria and the laws of the Commonwealth of Australia, in particular the
Corporations Act 2001(Cth) insofar as Security Matters Limited (ASX:SMX) is the Parent” 

  
 

 
  

	 	1.2	 The following words shall be deleted from Section 5.10 of the Agreement “an Australian public company
traded on the Australian Stock Exchange) and is thus subject to certain public disclosures obligation, including the ASX Listing Rules” 

  

 
  

	
	 2   Appointment and Position -

  

	 	2.1	 Employee will provide his services to Company as CEO of Company, Parent and anywholly owned subsidiary thereof
and shall supply services also to other members of the group of companies of which Company is part, as will be required. Employee will report to the Board of Directors of the Company (the “Board”). As CEO, Employee will be serving
in a position that requires a special measure of personal trust, with all that is implied. During the term of the Agreement, Employee shall serve as a member of the Board and of the Parent Board (as defined below) and of any company held (directly
or indirectly, including partly) by the Parent, unless Employee agrees otherwise in writing. The parties agree that the Employee will not be entitled to any additional consideration or benefit for serving in any position in any company in the
Company’s group (except for the Salary paid pursuant to this Agreement). 

  
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	 	2.2	 Employee will be employed on a full time basis as an employee of Company. 

 
 

 
  

	 	2.3	 An ordinary working week of work of Employee shall be 8.36 hours a day for 5 days and the weekly rest day of
Employee shall be Saturday. 

  
 

 
  

	 	2.4	 It is expressly agreed that the salary of Employee includes payment for overtime which is required of Employee
because the position of Employee in Company is a position that requires a special degree of personal confidence, conditions of employment of Employee and the circumstances do not allow Company in some cases to control the working hours.

  
 

 
  

	3	 Remuneration -

 

  

	 	3.1	 As consideration for the work of Employee and other obligations of Employee hereunder Company will pay Employee
a gross monthly salary (“Base Salary”), in the amount of ILS 80,000 per month. The Base Salary includes a global payment for an average of 60 extra hours every month, but Company will not be required to pay for any additional hours.

 Employee will be entitled to educational fund (Keren Hishtalmut) at the rate of 7.5% of the amount
stipulated in this §3.1 up to the annual cap for educational fund as set by the income tax regulations. 

  
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	 	3.2	 Company will deduct from the Base Salary (and any other payment made to Employee) all deductions for all
applicable taxes and withholdings required under law or this Agreement. 

  
 

 
  

	 	3.3	 At each January 1st while employee is employed, Employee
will be entitled to a retention bonus in cash equal to two times the Base Salary, which shall be considered as part of Employee’s annual remuneration. 

  

 
  

	 	3.4	 In addition to §3.3 above, subject to meeting individual and Company goals, which will be determined by
the board of directors (the “Parent Board”) of Empatan Public Limited Company (SMX Public Limited Company), Irish company registration number 722009 (the “Parent”) annually, Employee will be entitled to an annual
bonus in the amount of up to one Base Salary (at Company discretion (“Annual Bonus”). Company will deduct all taxes and mandatory payments required by Company and Employee, including income tax, social security, health tax, etc.,
from the Annual Bonus amount to be paid to Employee. The above bonus shall not apply towards calculation of social benefit rights. 

  

 
  

	4	 Company shall provide Employee with a leased car in full operational lease (“Car”) at a level
befitting the position of Employee, and shall bear all expenses incurred in connection with the leasing or use of the Car. 

  

 

  
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	5	 Employee shall be entitled to Annual Leave as set by law, but not less than 28 days per annum. The dates and
times of the leave shall be coordinated in advance with Company. Any accrued vacation days shall not be cancelled at the end of a year and may be redeemed in cash by Employee at any time in whole or in part. 

 
 

 
 Subject to the approval of the Parent Board, Employee shall receive _________ restricted stock units
(“RSUs”) with respect to a number of shares of the capital stock of Parent (“Parent Stock”) representing 5% of the issued and outstanding Parent Stock on a fully diluted basis as of the grant date (subject to the
terms and conditions of Parent’s 2022 Incentive Equity Plan and subject to Employee’s execution of an award agreement) as approved by the Parent Board. The RSUs shall be subject to a vesting schedule as follows: 20% of the RSUs shall be
fully vested immediately upon grant. The remaining RSUs shall vest at a rate of 5% quarterly thereafter (on the last day of each calendar quarter thereafter, beginning with the first full calendar quarter following the date of grant of the RSUs),
over a period of five (5) years commencing on the grant date, subject to the Employee’s continued employment with the Company through each such vesting date, pursuant to the terms of this Agreement, the 2022 Incentive Equity Plan and the
applicable award agreement. Employee acknowledges that Employee may be required to execute additional documents in compliance with the applicable laws and regulations or as required by the 2022 Incentive Equity Plan. In the event of any Change of
Control (as defined in the 2022 Incentive Equity Plan), all RSUs that are not then vested shall vest in full as of the effective date of the Change in Control. 
  

 
 Sick Leave and Recuperation Days as set by law. Employee shall be entitled to .6 

 
 

 
  

	6	 Application of Section 14 (“Section 14”) of the Severance Pay Law,
1953 

 

 
  

	 	6.1	 The Employee hereby confirms, acknowledges and agrees that Section 14 applies to his employment as of the
commencement date of my employment (i.e., October 15, 2018) and that the Company’s contribution to the managers insurance policy or pension fund, as applicable, in accordance with the Agreement, shall be instead of severance payment which
may be due upon termination of his employment with the Company. 

  
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	 	6.2	 The Company shall insure the Employee under an acceptable ‘Managers Insurance’ plan (the
“Managers Insurance Policy”) or Pension Fund (the “Pension Fund”) or a combination of both, as elected by Employee in advance, by contributing the following amounts to the respective components of such applicable
policy or fund, as of the date required under applicable law: 

  

	 	6.2.1	 Managers’ Insurance Policy: 

 

	 	6.2.1.1	 Disability Insurance—The Company, at its own discretion and expense, shall purchase a disability
insurance, under normal and acceptable conditions, which would insure 75% of the Salary (the “Disability Insurance”). The Company’s contribution for Disability Insurance shall, in no circumstances, exceed the amount of 21/4% of the Salary; 

  

	 	6.2.1.2	 Severance—an amount equal to 81/4% of the Salary; and 

  

	 	6.2.1.3	 Company’s contribution towards pension—the difference between 6.5% (the “Base Rate”)
of the Salary and the actual percentage of the Salary contributed towards Disability Insurance, provided that the Company’s contribution towards pension shall not be lesser than 5% of the Salary; 

 

	 	6.2.1.4	 Employee’s contribution towards pension—6% of the Salary. 

 

	 	6.2.2	 Pension Fund: Severance—an amount equal to 81/4% of the Salary; Pension—an amount equal to 6.5% of the Salary. In addition, the Company will deduct from Employee’s monthly paycheck a sum equal to 6% of the Salary as Employee’s
contribution. 

 Employee hereby instructs the Company to transfer to the Managers Insurance Policy and/or the Pension
Fund the amounts that constitute Employee’s contributions, which are deducted as aforesaid from Employee’s Salary. 
 In the event
Employee chooses to consolidate plans (Managers Insurance Policy and Pension Fund), the above percentages will apply to such portion of the Salary which Employee has allocated towards each such plan, such that the aggregate contribution to all such
plans for each such Severance and Pension components shall not exceed the applicable respective percentage set forth above. The foregoing rates will be updated from time to time in accordance with the requirements of applicable laws and regulations.

  
 5 

 

 
  

 Employee shall bear any and all taxes applicable and required by law to Employee and/or the
Company in connection with amounts paid by Employee and/or the Company to the insurance company or pension fund pursuant to Section 8.2 above. 
  

 
  

	 	6.3	 It is hereby specifically agreed that upon termination of employment, Company shall release to the Employee all
amounts accrued in the pension and severance pay funds, as the case shall be, on account of both Company’s and Employee’s contributions, including in similar funds outside of Israel. All, in accordance with the General Permit promulgated
by the Minister of Labor on June 30, 1999 (“Permit”)1 pursuant to Article 14 of the Severance Pay Law. Employee hereby acknowledges that the amounts contributed by Company
for severance payment in any manner shall be deemed to be made instead of the severance payments to which Employee may be entitled under the provisions of the Severance Pay Law, and shall constitute a full and complete payment thereof.

  

	1 	 https://employment.molsa.gov.il/Employment/WorkRights/EmploymentTermination/documents/ishursaifl4.pdf

  
 6 

 

 
  

 

 
  

	 	6.4	 Company hereby waives any entitlement and/or right for reimbursement with respect to the Severance Payment and
acknowledges, that upon termination of Employee’s employment in Company, including inter alia, in the event of Employee’s resignation, Company shall release the Severance Payment and shall transfer them to Employee, except in the event
that: (i) Company terminated Employee’s engagement due to circumstances under which Employee’s entitlement for severance payment is denied pursuant to Articles 16 or 17 of the Severance Pay Law; or (ii) Employee already withdrawn
funds from the fund and not because of an “Entitling Event” under section 2(b) of the Permit. 

  

 
  

	7	 Payment for the obligations in Annex B and Annex C 

 
 

 
 A third of any payment or other consideration under this Agreement is remuneration for the
non-Competition of Employee as described in Annex B and Annex C. 
  
 

 
  

	8	 Term

 

  

	 	8.1	 Subject to any limitation under applicable law: Engagement of Employee by Company shall be deemed to be
October 15, 2018 (“Commencement Date”), and will continue unless terminated as provided hereunder. This Agreement may be terminated by either party upon prior notice, but in any case the term will be no less than at least 5
years as of commencement of trading of the Parent on NASDAQ. Notwithstanding the foregoing to the contrary, the parties hereby agree as follows: (i) in the event that despite the terms of this Agreement, the Employee will resign at any time
before the expiration of such five year period, then as of such date of termination and without derogating from any other rights or remedies that may be due to the Company and its affiliates, the Employee will not be entitled to any consideration
and benefits; and (ii) in case of termination of this Agreement by the Company without Cause, if the amounts and benefits paid to the Employee pursuant to this section are higher than the amounts due to him pursuant to Section 9,3, the
Employee will receive the higher amount, but will not receive all amounts together. 

  
 7 

 

 
  

	 	8.2	 The prior notice for termination by Company or Employee will be 180 days provided that during the notice
period, the Employee will hand over his work to any person as shall be designated by the Board or the Parent Board. Notwithstanding the foregoing to the contrary, in the event of “Cause” (as defined below), the Company may terminate this
Agreement with immediate effect despite the 5 years term. 

  

	 	8.3	 In the event of a notice for termination by Company (without Cause (as defined below) or by the Employee,
Employee shall be entitled, subject to his compliance with the terms of this Agreement during the term of this Agreement and thereafter and in consideration for Employee’s compliance with his obligation not to compete with the group of
companies of which Company is part following termination of his employment, to continued Base Salary and other benefits for an additional 9 months following the termination date, during which Employee shall not be required to work and may commence
working in another location, subject to the terms of Annex B and C. 

  

	 	8.4	 Any of the following, without Employee’s prior written consent, may be treated by Employee as a notice for
termination by Company, if (a) the Employee provided a written notice to the Board and Parent Board of such circumstances within thirty (30) days and the Company or Parent failed to cure it; and (b) the Employee provided a termination
notice immediately following the expiration of thirty (30) day notice period: (i) reduction of Employee’s responsibilities or powers as a CEO in Company or any of the group of companies to which it is part, (ii) relocation of
Employee’s principal place of employment by more than thirty miles, (iii) breach by the Company of its obligations under this Agreement, or (iv) the Company’s failure to obtain an agreement from any successor to the Company to
assume and agree to perform this Agreement in the same manner and in the same extent that the Company would be required to perform if no succession had taken plan, except where such assumption occurs by operation of law. 

 

	 	8.5	 Due to lower (or no) payment for Employee’s positions in the group of corporations affiliated with
Company, in case of termination of employment, Employee shall be entitled to a retirement bonus in a gross amount of ILS 780,000, subject to any relevant provision of any applicable law, including but not limited to any applicable tax withholdings.

  

	 	8.6	 “Cause” shall means circumstances under which the Company may terminate this Agreement, as a
result of (i) a conviction of, indictment of, or pleading of no-contest by, the Employee in connection with a criminal offence involving moral turpitude, theft, embezzlement or fraud, which in the good
faith judgment of the Board or the Parent Board adversely affects the Company or an affiliate of the Company or the ability of the Employee to satisfy all of his duties to the Company or an affiliate of the Company (including pursuant to the
Agreement); (ii) the Employee’s dishonesty, fraud, unethical or illegal act, misappropriation 

  
 8 

 

 
  

	 	
or embezzlement which in the good faith judgment of the Board or the Parent Board causes (or would reasonably be likely to cause) damage to the Company or an affiliate of the Company;
(iii) breach of the Employee’s fiduciary duties to the Company or an affiliate of the Company; (iv) willful or deliberate violations of the Employee’s obligations to the Company or an affiliate of the Company or violation of any
instructions provided to the Employee by the Board or Parent Board; or (v) material breach of any of the terms or conditions of (a) the Employment Agreement, (b) the Employee’s confidentiality obligations with respect to
Confidential Information under the Employment Agreement and the undertaking attached as Annex B therein, (c) the Employee’s agreement to not engage in competition, if any, with the Company or an affiliate of the Company, in each of the
cases in sub-clauses (a) where such breach is not cured, if capable of cure, within thirty days of Employee’s receipt of Company’s first written notice to that effect. 

 
 

 

  
 9 

 

 
  

 

 
  

	9	 Restriction to hold shares of a public company 

Employee may not hold more than 2% of a publicly traded company that may be a competitor of Company, unless first receiving approval of the
Board. 
  
 

 
  

	10	 Waiver —

 

  

	 	10.1	 The Employee hereby confirms, acknowledges and agrees, on behalf of himself, his heirs, executors,
administrators, legal representatives, and any person or entity acting on his behalf as follows: 

  

	 	10.2	 Since the Commencement Date and until today, the Employee has received from the Company the complete, full and
final amounts due to him in connection with his employment in a timely manner and in accordance with the provisions of any collective agreement, statute, and/or regulation applicable to the Employee and the Agreement, including without limitation,
full wages, supplements to wages, bonuses, overtime, grants, recreation pay, transportation expenses, reimbursements of expenses, severance pay and any other amounts rights or benefits due him under law, agreement, or custom, in connection with the
Employee’s engagement and employment with the Company. 

  

	 	10.3	 Without derogating from the generality of the foregoing, the Employee hereby confirms that between the period
commencing on August 27, 2014 and until October 15, 2018, no employer-employee relationship existed between the Employee and the Company and the Employee was providing services to the Company through Kibbutz Naan and received full
consideration and benefits due to him directly from the Kibbutz and the Company has no obligation whatsoever towards Employee with respect to such period. 

  

	 	10.4	 The Employee hereby irrevocably waives any and all claims and demands that he may have against the Company, its
officers and shareholders (former or future) in connection with (i) his employment until the date hereof, or with (ii) any consideration or benefit that he may have been entitled to receive in connection with that certain Business
Combination Agreement that is currently being negotiated between the parties thereto and any related transaction, except for the consideration specifically specified in this Agreement. 

  
 10 

 

 
  

	 	10.5	 The undersigned acknowledges that he is a senior officer of the Company, has read and fully understands the
terms of this waiver and has consulted and received advice of counsel regarding this waiver or have had sufficient opportunity to do so. This confirmation contains the entire and exclusive agreement of the undersigned and the Company with reference
to the matters discussed herein. This waiver supersedes all prior drafts and communications with respect hereto, except for any other waiver which may have been signed in connection with the subject hereto. This waiver shall be binding upon and
inure to the benefit of the Company, its officers, directors and shareholders and their respective successors and assigns. 

  

 
 We agree to the terms of this Agreement (including all its annexes) and guarantee its full performance by Company thereof.

  
 

 
 Empatan Public Limited Company (SMX Public Limited Company), Irish company registration number 722009. 

  
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