Document:

Exhibit 10.1

 

INDEMNIFICATION AGREEMENT

 

THIS INDEMNIFICATION AGREEMENT (the “Agreement”),
dated as of _____, 2022 , is entered into by and between Beamr Imaging Ltd., an Israeli company whose address is 10 Hamanofim Street Herzliya,
4676670, Israel (the “Company”), and the undersigned Director or Officer of the Company whose name appears on the signature
page attached hereto (the “Indemnitee”).

 

		WHEREAS,	Indemnitee is an Office Holder (“Nosse Misra”), as such term is defined in the Companies
Law, 5759—1999, as amended (the “Companies Law” and “Office Holder” respectively), of the
Company;

 

		WHEREAS,	both the Company and Indemnitee recognize the increased risk of litigation and other claims being asserted
against Office Holders of companies and that highly competent persons have become more reluctant to serve corporations as directors and
officers or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification against
inordinate risks of claims and actions against them arising out of their service to, and activities on behalf of, companies;

 

		WHEREAS,	the Amended and Restated Articles of Association of the Company (the “Articles”) authorize
the Company to indemnify and advance expenses to its Office Holders and provide for insurance and exculpation to its Office Holders, in
each case, to the fullest extent permitted by applicable law, and this Agreement is provided to Indemnitee in accordance with applicable
law, the Articles and all requisite corporate approvals;

 

		WHEREAS,	the Company has determined that (i) the increased difficulty in attracting and retaining competent persons
is detrimental to the best interests of the Company’s shareholders and that the Company should act to assure such persons that there
will be increased certainty of such protection in the future, and (ii) it is reasonable, prudent and necessary for the Company contractually
to obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law,
so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified;

 

		WHEREAS,	the Company acknowledges that Indemnitee is relying on the obligations of the Company set forth in this
Agreement in agreeing to serve the Company, which obligations are therefore irrevocable; and

 

		WHEREAS	in recognition of Indemnitee’s need for substantial protection against loss arising from the Indemnitee’s
liability, including costs and expenses incurred by the Indemnitee due to his or her position as an Office Holder, in order to assure
Indemnitee’s continued service to the Company in an effective manner and, in part, in order to provide Indemnitee with specific
contractual assurance that the indemnification, insurance and exculpation afforded by the Articles will be available to Indemnitee, the
Company wishes to undertake in this Agreement for the indemnification of and the advancing of expenses to Indemnitee to the fullest extent
permitted by applicable law and as set forth in this Agreement and provide for insurance and exculpation of Indemnitee as set forth in
this Agreement.

 

NOW, THEREFORE, the parties hereto agree as follows:

 

		1.	INDEMNIFICATION AND INSURANCE.

 

		1.1.	The Company hereby undertakes to indemnify Indemnitee to the fullest extent permitted by applicable law
and the Articles, as each may be amended from time to time, for any liability and expense specified in Sections 1.1.1 through 1.1.4 below,
imposed on Indemnitee due to or in connection with an act performed by such Indemnitee, either prior to or after the date hereof, in Indemnitee’s
capacity as an Office Holder, including, without limitation, as a director, officer, employee, agent, observer or fiduciary of the Company,
any subsidiary thereof or any other corporation, collaboration, partnership, joint venture, trust or other enterprise, in which Indemnitee
serves at any time at the request of the Company (the “Corporate Capacity”). The term “act performed in Indemnitee’s
capacity as an Office Holder” shall include, without limitation, any act, omission and failure to act and any other circumstances
relating to or arising from Indemnitee’s service in a Corporate Capacity. Notwithstanding the foregoing, in the event that the Office
Holder is the beneficiary of an indemnification undertaking provided by a subsidiary of the Company or any other entity, with respect
to his or her Corporate Capacity with such subsidiary or entity, then the indemnification obligations of the Company hereunder with respect
to such Corporate Capacity shall only apply to the extent that the indemnification by such subsidiary or other entity does not actually
fully cover the indemnifiable liabilities and expenses relating thereto. The following shall be hereinafter referred to as “Indemnifiable
Events”:

 

     

     

    

 

		1.1.1.	a financial liability imposed on Indemnitee in favor of another person by any court judgment, including
a judgment given as a result of a settlement or an arbitrator’s award which has been confirmed by a court in respect of an act performed
by the Indemnitee. For purposes of Section 1 of this Agreement, the term “person” shall include, without limitation,
a natural person, firm, partnership, joint venture, trust, company, corporation, limited liability entity, unincorporated organization,
estate, government, municipality, or any political, governmental, regulatory or similar agency or body;

 

		1.1.2.	reasonable Expenses (as defined below) expended by Indemnitee as a result of an investigation or proceeding
instituted against him or her by an authority authorized to conduct such investigation or proceeding, provided that (1) no indictment
(as defined in the Companies Law) was filed against such Indemnitee as a result of such investigation or proceeding; and (2) no financial
liability in lieu of a criminal proceeding (as defined in the Companies Law) was imposed upon him or her as a result of such investigation
or proceeding or if such financial liability was imposed, it was imposed with respect to an offence that does not require proof of criminal
intent, or in connection with a financial sanction;

 

		1.1.3.	reasonable Expenses expended by Indemnitee or that were imposed on Indemnitee by a court in a proceeding
filed against the Indemnitee by the Company or in its name or by any other person or in a criminal charge in respect of which the Indemnitee
was acquitted or in a criminal charge in respect of which the Indemnitee was convicted for an offence that does not require proof of criminal
intent;

 

		1.1.4.	a financial liability imposed upon Indemnitee and reasonable Expenses expended by Indemnitee as a result
of an administrative proceeding instituted against Indemnitee. Without derogating from the generality of the foregoing, such liability
or Expense will include a payment which Indemnitee is obligated to make to an injured party as set forth in Section 52(54)(a)(1)(a) of
the Israeli Securities Law, 1968 — 5728 (the “Securities Law”) and Expenses that Indemnitee incurred in connection
with a proceeding under Chapters H’3, H’4 or I’1 of the Securities Law; and

 

		1.1.5.	any other event, occurrence, matter or circumstance under any law with respect to which the Company may,
or will be able to, indemnify the Indemnitee (including, without limitation in accordance with Section 50P of the Israeli Economic Competition
Law, 5758-1988 (the “RTP Law”), if and to the extent applicable).

 

			For the purpose of this Agreement, “Expenses”
shall include, without limitation, attorneys’ fees and all other costs, expenses and obligations paid or incurred by Indemnitee
in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to defend, be
a witness in or participate in any claim, action, suit, proceeding, alternative dispute resolution mechanism, hearing, inquiry or investigation
relating to any matter for which indemnification hereunder may be provided, and costs and expenses paid or incurred by Indemnitee in
successfully enforcing this Agreement. Expenses shall be considered paid or incurred by Indemnitee at such time as Indemnitee is required
to pay or incur such cost or expenses, including upon receipt of an invoice or payment demand. The Company shall pay the Expenses in
accordance with the provisions of Section 1.3.

 

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		1.2.	Notwithstanding anything herein to the contrary, the Company’s undertaking to indemnify the Indemnitee
in advance under Section 1.1.1 shall only be with respect to events described in Exhibit A hereto. The Board of Directors
of the Company (the “Board”) has determined that the categories of events listed in Exhibit A are likely
to occur in light of the operations of the Company. The maximum amount of indemnification payable by the Company under Section 1.1.1 of
this Agreement with respect to all persons with respect to whom the Company undertook to indemnify under agreements similar to this Agreement
(the “Indemnifiable Persons”), for all events described in Exhibit A shall be as set forth in Exhibit
A hereto (the “Limit Amount”). If the Limit Amount is insufficient to cover all the indemnity amounts payable
with respect to all Indemnifiable Persons, then such amount shall be allocated to such Indemnifiable Persons pro rata according to the
percentage of their culpability, as finally determined by a court in the relevant claim, or, absent such determination or in the event
such persons are parties to different claims, based on an equal pro rata allocation among such Indemnifiable Persons. The Limit Amount
payable by the Company as described in Exhibit A is deemed by the Company to be reasonable in light of the circumstances.
The indemnification provided under Section 1.1.1 herein shall not be subject to the limitations imposed by this Section 1.2 and Exhibit
A if and to the extent such limits are no longer required by the Companies Law.

 

		1.3.	If so requested by Indemnitee, and subject to the Company’s repayment and reimbursement rights set
forth in Sections 3 and 5 below, the Company shall pay amounts to cover Indemnitee’s Expenses with respect to which Indemnitee is
entitled to be indemnified under Section 1.1 above, as and when incurred. The payments of such amounts shall be made by the Company directly
to the Indemnitee’s legal and other advisors, as soon as practicable, but in any event no later than fifteen (15) days after written
demand by such Indemnitee therefor to the Company, and any such payment shall be deemed to constitute indemnification hereunder. All amounts
paid as indemnification hereunder shall be grossed up to cover any tax payment that Indemnitee may be required to make if the indemnification
payments are taxable, subject to the Limit Amount if required by applicable law. As part of the aforementioned undertaking, the Company
will make available to Indemnitee any security or guarantee that Indemnitee may be required to post in accordance with an interim decision
given by a court, governmental or administrative body, or an arbitrator, including for the purpose of substituting liens imposed on Indemnitee’s
assets.

 

		1.4.	The Company’s obligation to indemnify Indemnitee and advance Expenses in accordance with this Agreement
shall be for such period as Indemnitee shall be subject to any actual, possible or threatened claim, action, suit, demand or proceeding
or any inquiry or investigation, whether civil, criminal or investigative, arising out of the Indemnitee’s service in the Corporate
Capacity as described in Section 1.1 above, whether or not Indemnitee is still serving in such position (the “Indemnification
Period).

 

		1.5.	The Company undertakes that, subject to the mandatory limitations under applicable law and the Articles,
as in effect from time to time, as long as it may be obligated to provide indemnification and advance Expenses under this Agreement, the
Company will purchase and maintain in effect directors’ and officers’ liability insurance, which will include coverage for
the benefit of the Indemnitee, providing coverage in amounts as reasonably determined by the Board; provided that, the Company shall have
no obligation to obtain or maintain directors and officers insurance policy if the Company determines in good faith that such insurance
is not reasonably available, the premium costs for such insurance are disproportionate to the amount of coverage provided, or the coverage
provided by such insurance is so limited by exclusions that it provides an insufficient benefit. The Company hereby undertakes to notify
the Indemnitee thirty (30) days prior to the expiration or termination of such directors’ and officers’ liability insurance.

 

		1.6.	The Company undertakes to give prompt written notice of the commencement of any claim hereunder to the
insurers in accordance with the procedures set forth in each of the policies. The Company shall thereafter diligently take all actions
reasonably necessary under the circumstances to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of
such action, suit, proceeding, inquiry or investigation in accordance with the terms of such policies. The above shall not derogate from
Company’s authority to freely negotiate or reach any compromise with the insurer which is reasonable at the Company’s sole
discretion provided that the Company shall act in good faith and in a diligent manner.

 

		1.7.	In making a determination with respect to entitlement to indemnification hereunder, the person or persons
or entity making such determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has
requested it, and the Company shall have the burden of proof to overcome that presumption in connection with the making of any determination
contrary to that presumption.

 

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		2.	SPECIFIC LIMITATIONS ON INDEMNIFICATION.

 

			Notwithstanding anything to the contrary in this Agreement, the Company shall not indemnify or
                                                                             advance Expenses to Indemnitee with respect to (i) any act, event or circumstance with respect to which it is prohibited to do so
                                                                             under applicable law, or (ii) a counter claim made by the Company or in its name in connection with a claim against the Company
                                                                             filed by the Indemnitee.

 

		3.	REPAYMENT OF EXPENSES.

 

		3.1.	In the event that the Company provides or is required to provide indemnification with respect to Expenses
hereunder and at any time thereafter the Company determines, based on advice from its legal counsel, that the Indemnitee was not entitled
to such payments, the amounts so indemnified by the Company will be promptly repaid by Indemnitee, unless the Indemnitee disputes the
Company’s determination, in which case the Indemnitee’s obligation to repay to the Company shall be postponed until such dispute
is resolved by a court of competent jurisdiction in a final and non-appealable order.

 

		3.2.	Indemnitee’s obligation to repay the Company for any Expenses or other sums paid hereunder shall
be deemed as a loan given to Indemnitee by the Company subject to the minimum interest rate prescribed by Section 3(9) of the Income Tax
Ordinance [New Version], 1961, or any other legislation replacing it, which is not considered a taxable benefit.

 

		4.	SUBROGATION.

 

			In the event of payment under this Agreement, the Company shall be subrogated to the extent of such
                                                                             payment to all of the rights of recovery of Indemnitee, who shall execute all documents required and shall do everything that may be
                                                                             necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit
                                                                             to enforce such rights.

 

		5.	REIMBURSEMENT.

 

			The Company shall not be liable under this Agreement to make any payment in connection with any
                                                                                Indemnifiable Event to the extent Indemnitee has otherwise actually received payment under any insurance policy or otherwise
                                                                                (without any obligation of Indemnitee to repay any such amount) of the amounts otherwise indemnifiable hereunder. Any amounts paid
                                                                                to Indemnitee under such insurance policy or otherwise after the Company has indemnified Indemnitee for such liability or Expense
                                                                                shall be repaid to the Company as soon as practical upon receipt by Indemnitee, in accordance with the terms set forth in Section
                                                                                3.2.

 

			The Company hereby acknowledges that the Indemnitee has now or may have in the future certain rights
                                                                                to indemnification, advancement of expenses and/or insurance provided by third parties (the “Third Party
                                                                                Indemnitor”), and the Company hereby agrees (i) that the Company is the indemnitor of first resort (i.e., its obligations
                                                                                to the Indemnitee are primary and any obligation of any Third Party Indemnitor to advance expenses or to provide indemnification for
                                                                                the same expenses or liabilities incurred by the Indemnitee are secondary), (ii) it shall be required to advance the full amount of
                                                                                expenses incurred by the Indemnitee and shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts
                                                                                paid in settlement to the fullest extent legally permitted and as required by the terms of this Agreement and/or the Articles (or
                                                                                any other agreement between the Company and the Indemnitee), without regard to any rights the Indemnitee may have against the Third
                                                                                Party Indemnitors, and (iii) that it irrevocably waives, relinquishes and releases any Third Party Indemnitor from any and all
                                                                                claims against any Third Party Indemnitor for contribution, subrogation or any other recovery of any kind of respect of the subject
                                                                                matters of this Agreement. Without altering or expanding any of the Company’s indemnification obligations hereunder, the
                                                                                Company further agrees that no advancement or payment by any Third Party Indemnitor on the Indemnitee’s behalf with respect to
                                                                                any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and any Third Party Indemnitor
                                                                                shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of
                                                                                recovery of the Indemnitee against the Company. The Company and the Indemnitee agree that the Third Party Indemnitors are express
                                                                                third party beneficiaries of the terms of this Section 5.

 

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		6.	EFFECTIVENESS.

 

			The Company represents and warrants that this Agreement is valid, binding and enforceable in
                                                                             accordance with its terms and was duly adopted and approved by the Company, and shall be in full force and effect immediately upon
                                                                             its execution and shall continue to be in full force for the duration of the Indemnification Period.

 

		7.	NOTIFICATION AND DEFENSE OF CLAIM.

 

			Indemnitee shall notify the Company of the commencement of any action, suit or proceeding, and of
                                                                             the receipt of any notice or threat that any such legal proceeding has been or shall or may be initiated against Indemnitee
                                                                             (including any proceedings by or against the Company and any subsidiary thereof), promptly upon Indemnitee first becoming so aware;
                                                                             but the omission to so notify the Company will not relieve the Company from any liability which it may have to Indemnitee under this
                                                                             Agreement unless and to the extent that such failure to provide notice materially and adversely impacts the Company’s ability
                                                                             to defend such action. Notice to the Company shall be directed to the Chief Executive Officer or Chief Financial Officer of the
                                                                             Company at the address shown in the preamble to this Agreement (or such other address as the Company shall designate in writing to
                                                                             Indemnitee). With respect to any such action, suit or proceeding as to which Indemnitee notifies the Company of the commencement
                                                                             thereof and without derogating from Sections 1.1 and 2:

 

		7.1.	The Company will be entitled to participate therein at its own expense.

 

		7.2.	Except as otherwise provided below, the Company, alone or jointly with any other indemnifying party similarly
notified, will be entitled to assume the defense thereof, with counsel selected by the Company. Indemnitee shall have the right to employ
his or her own counsel in such action, suit or proceeding, but the fees and expenses of such counsel incurred after notice from the Company
of its assumption of the defense thereof shall be at the expense of Indemnitee, unless: (i) the employment of counsel by Indemnitee has
been authorized in writing by the Company; (ii) the Company shall have, in good faith, reasonably concluded that there may be a conflict
of interest under the law and rules of attorney professional conduct applicable to such claim between the Company and Indemnitee in the
conduct of the defense of such action; or (iii) the Company has not in fact employed counsel to assume the defense of such action within
reasonable time, in which cases the reasonable fees and expenses of Indemnitee’s counsel shall be at the expense of the Company.
The Company shall not be entitled to assume the defense of any action, suit or proceeding brought by or on behalf of the Company or as
to which the Company shall have reached the conclusion specified in (ii) above.

 

		7.3.	The Company shall not be liable to indemnify Indemnitee under this Agreement for any amounts or expenses
paid in connection with a settlement of any action, claim or otherwise, effected without the Company’s prior written consent.

 

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		7.4.	The Company shall have the right to conduct the defense as it sees fit in its sole discretion (provided
that the Company shall conduct the defense in good faith and in a diligent manner and that the Company and its counsel shall keep the
Indemnitee reasonably notified on a regular basis of all events in the action), including the right to settle or compromise any claim
or to consent to the entry of any judgment against Indemnitee without the consent of the Indemnitee, provided that, the amount of such
settlement, compromise or judgment does not exceed the Limit Amount (if applicable) and is fully indemnifiable pursuant to this Agreement
(subject to Section 1.2 of this Agreement) and/or applicable law, and any such settlement, compromise or judgment does not impose any
penalty or limitation on Indemnitee without the Indemnitee’s prior written consent. The Indemnitee’s consent shall not be
required if the settlement includes a complete release of Indemnitee, does not contain any admission of wrong-doing by Indemnitee, and
includes monetary sanctions only as provided above. In the case of criminal proceedings, the Company and/or its legal counsel will not
have the right to plead guilty or agree to a plea-bargain in the Indemnitee’s name without the Indemnitee’s prior written
consent. Neither the Company nor Indemnitee will unreasonably withhold or delay its consent to any proposed settlement.

 

		7.5.	Indemnitee shall fully cooperate with the Company and shall give the Company all information and access
to documents, files and to his or her advisors and representatives as shall be within Indemnitee’s power, in every reasonable way
as may be required by the Company with respect to any claim that is the subject matter of this Agreement and in the defense of other claims
asserted against the Company (other than claims asserted by Indemnitee), provided that the Company shall cover all expenses, costs and
fees incidental thereto such that the Indemnitee will not be required to pay or bear such expenses, costs and fees.

 

		8.	EXCULPATION.

 

			Subject to the provisions of the Companies Law, the Company hereby releases, in advance, the Office
                                                                                Holder from liability to the Company for any damage that arises from the breach of the Office Holder’s duty of care to the
                                                                                Company (within the meaning of such terms under Sections 252 and 253 of the Companies Law), other than breach of the duty of care
                                                                                towards the Company in a distribution (as such term is defined in the Companies Law).

 

		9.	NON-EXCLUSIVITY.

 

			The rights of the Indemnitee hereunder shall not be deemed exclusive of any other rights Indemnitee
                                                                                may have under the Articles, applicable law or otherwise, and to the extent that during the Indemnification Period the
                                                                                indemnification rights of the then serving Indemnitees are more favorable to such Indemnitees than the indemnification rights
                                                                                provided under this Agreement, Indemnitee shall be entitled to the full benefits of such more favorable indemnification rights to
                                                                                the extent permitted by law.

 

		10.	PARTIAL INDEMNIFICATION.

 

			If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company
                                                                                for some or a portion of the Expenses, judgments, fines or penalties actually or reasonably incurred by Indemnitee in connection
                                                                                with any proceedings, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the
                                                                                portion of such Expenses, judgments, fines or penalties to which Indemnitee is entitled under any provision of this Agreement.
                                                                                Subject to the provisions of Section 5 above, any amount received by Indemnitee (under any insurance policy or otherwise) shall not
                                                                                reduce the Limit Amount hereunder and shall not derogate from the Company’s obligation to indemnify the Indemnitee in
                                                                                accordance with the provisions of this Agreement up to the Limit Amount, as set forth in Section 1.2.

 

		11.	BINDING EFFECT.

 

			This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties
                                                                                hereto and their respective successors and permitted assigns and their respective heirs, personal representatives, executors and
                                                                                administrators. In the event of a merger or consolidation of the Company or a transfer or disposition of all or substantially all of
                                                                                the business or assets of the Company, the Indemnitee shall be entitled to the same indemnification and insurance provisions as the
                                                                                most favorable indemnification and insurance provisions afforded to the then-serving Office Holders of the Company. In the event
                                                                                that in connection with such transaction the Company purchases a directors and officers’ “tail” or
                                                                                “run-off” policy for the benefit of its then serving Office Holders, then such policy shall cover Indemnitee and such
                                                                                coverage shall be deemed to be in satisfaction of the insurance requirements under this Agreement. This Agreement shall continue in
                                                                                effect during the Indemnification Period regardless of whether Indemnitee continues to serve in a Corporate Capacity.

 

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			Any amendment to the Companies Law, the Israeli Securities Law, the RTP Law or other applicable law
                                                                                adversely affecting the right of the Indemnitee to be indemnified, insured or released pursuant hereto shall be prospective in
                                                                                effect, and shall not affect the Company’s obligation or ability to indemnify or insure the Indemnitee for any act or omission
                                                                                occurring prior to such amendment, unless otherwise provided by applicable law.

 

		12.	SEVERABILITY.

 

			The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of
                                                                                any provision shall not affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement, or
                                                                                the application thereof or any circumstance, is invalid or unenforceable, (i) a suitable and equitable provision shall be
                                                                                substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or
                                                                                unenforceable provision and (ii) the remainder of this Agreement and the application of such provision or circumstances shall not be
                                                                                affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity or enforceability
                                                                                of such provision, or the application thereof, in any other jurisdiction.

 

		13.	NOTICE.

 

			All notices and other communications pursuant to this Agreement
shall be in writing and shall be deemed provided if delivered personally, telecopied, sent by electronic facsimile, email, reputable
overnight courier or mailed by registered or certified mail (return receipt requested), postage prepaid, to the parties at the addresses
shown in the preamble to this Agreement, or to such other address as the party to whom notice is to be given may have furnished to the
other party hereto in writing in accordance herewith. Any such notice or communication shall be deemed to have been delivered and received
(i) in the case of personal delivery, on the date of such delivery, (ii) in the case of telecopier or an electronic facsimile or email,
one business day after the date of transmission if confirmation of receipt is received, (iii) in the case of a reputable overnight courier,
three business days after deposit with such reputable overnight courier service, and (iv) in the case of mailing, on the seventh business
day following that on which the mail containing such communication is posted.

 

		14.	GOVERNING LAW; JURISDICTION.

 

			This Agreement shall be governed by and construed and enforced in accordance with the laws of the
                                                                                State of Israel, without giving effect to the conflicts of law provisions of those laws. The Company and Indemnitee each hereby
                                                                                irrevocably consent to the exclusive jurisdiction and venue of the courts of Tel Aviv, Israel for all purposes in connection with
                                                                                any action or proceeding which arises out of or relates to this Agreement.

 

		15.	ENTIRE AGREEMENT AND TERMINATION.

 

			This Agreement represents the entire agreement between the parties and supersedes any other
                                                                                agreements, contracts or understandings between the parties, whether written or oral, with respect to the subject matter of this
                                                                                Agreement. For the avoidance of doubt, it is hereby clarified that nothing contained herein derogates from the Company’s right
                                                                                in its sole discretion, subject to applicable law and the Articles, to indemnify Indemnitee post factum for any amounts the
                                                                                Indemnitee may be obligated to pay.

 

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		16.	NO MODIFICATION AND NO WAIVER.

 

			No supplement, modification or amendment, termination or cancellation of this Agreement shall be
                                                                                binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be
                                                                                deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a
                                                                                continuing waiver. Any waiver shall be in writing. The Company hereby undertakes not to amend its Articles in a manner that will
                                                                                adversely affect the provisions of this Agreement.

 

		17.	ASSIGNMENTS; NO THIRD PARTY RIGHTS.

 

			Neither party hereto may assign any of its rights or obligations hereunder except with the express
                                                                                prior written consent of the other party. Nothing herein shall be deemed to create or imply an obligation for the benefit of a third
                                                                                party, except as set forth in Section 5. Without limitation of the foregoing, nothing herein shall be deemed to create any right of
                                                                                any insurer that provides directors’ and officers’ liability insurance, to claim, on behalf of Indemnitee, any rights
                                                                                hereunder.

 

		18.	INTERPRETATION; DEFINITIONS.

 

			The obligations of the Company as provided hereunder shall be interpreted broadly and in a manner
                                                                                that shall facilitate its execution, to the extent permitted by law, and for the purposes for which it was intended.

 

			Unless the context shall otherwise require: words in the singular shall also include the plural, and
                                                                                vice versa; any pronoun shall include the corresponding masculine, feminine and neuter forms; the words “include”,
                                                                                “includes” and “including” shall be deemed to be followed by the phrase “without limitation”;
                                                                                the words “herein”, “hereof” and “hereunder” and words of similar import refer to this Agreement
                                                                                in its entirety and not to any part hereof; all references herein to Sections or clauses shall be deemed references to Sections or
                                                                                clauses of this Agreement; any references to any agreement or other instrument or law, statute or regulation are to it as amended,
                                                                                supplemented or restated, from time to time (and, in the case of any law, to any successor provisions or re-enactment or
                                                                                modification thereof being in force at the time); any reference to “law” shall include any supranational, national,
                                                                                federal, state, local, or foreign statute or law and all rules and regulations promulgated thereunder; any reference to a
                                                                                “day” or a number of “days” (without any explicit reference otherwise, such as to business days) shall be
                                                                                interpreted as a reference to a calendar day or number of calendar days; reference to month or year means according to the Gregorian
                                                                                calendar; reference to a “company”, “corporate body” or “entity” shall include a, partnership,
                                                                                firm, company, corporation, limited liability company, association, joint venture, trust, unincorporated organization, estate, or a
                                                                                government municipality or any political, governmental, regulatory or similar agency or body, and reference to a
                                                                                “person” shall mean any of the foregoing or a natural person.

 

		19.	COUNTERPARTS.

 

			This Agreement may be executed in any number of counterparts, each of which shall be deemed an
                                                                                original and enforceable against the parties actually executing such counterpart, and all of which together shall constitute one and
                                                                                the same instrument; it being understood that parties need not sign the same counterpart. The exchange of an executed Agreement (in
                                                                                counterparts or otherwise) by facsimile or by electronic delivery in pdf format shall be sufficient to bind the parties to the terms
                                                                                and conditions of this Agreement, as an original.

 

[SIGNATURE PAGE TO FOLLOW]

 

    8 

     

    

 

IN WITNESS WHEREOF,
the parties, each acting under due and proper authority, have executed this Agreement as of the date first mentioned above, in one or
more counterparts.

 

	Beamr Imaging Ltd.	 
	 	 
	By:		
	 	 	 
	Name and title: 	 	 
	
     

    Indemnitee:
	 
	 	 
	Name:	 	 
	 	 	 
	Signature:	 	 
	 	 	 
	Address:	 	 

=

 

    9 

     

    

 

EXHIBIT A*

 

	 	 	CATEGORY OF INDEMNIFIABLE EVENT	 	LIMIT AMOUNT PER EACH

SPECIFIC EVENT WITHIN

THIS CATEGORY OF EVENTS
	 	 	 	 	 
	1.	 	Claims in connection with employment relationships with and/or by employees or consultants of the Company, and in connection with business relations between the Company and its employees, independent contractors, customers, suppliers, partners and various service providers.	 	the greater of (i) an amount equal to 25% of our shareholders’ equity on a consolidated basis, based on our most recent financial statements made publicly available before the date on which the indemnity payment is made, and (ii) $[__] million (the “Maximum Amount”).
	 	 	 	 	 
	2.	 	Negotiations, execution, delivery and performance of agreements of any kind or nature, anti-competitive acts, acts of commercial wrongdoing, approval of corporate actions including the approval of and recommendation or information provided to shareholders with respect to corporate actions, the approval of the acts of the Company’s management, their guidance and their supervision, actions concerning the approval of transactions with Office Holders or shareholders, including controlling persons, actions pursuant to or in accordance with the policies and procedures of the Company (whether or not such policies and procedures are published) and claims of failure to exercise business judgment and a reasonable level of proficiency, expertise and care or any other applicable standard with respect to the Company’s business.	 	The Maximum Amount
	 	 	 	 	 
	3.	 	Violation, infringement, misappropriation, dilution and other misuse of copyrights, patents, designs, trade secrets and any other intellectual property rights, acts in connection with the registration, assertion or protection of rights to intellectual property and the defense of claims related to intellectual property, breach of confidentiality obligations, acts in regard of invasion of privacy including with respect to databases or personal information, acts in connection with slander and defamation, and claims in connection with publishing or providing any information, including any filings with any governmental authorities, whether or not required under any applicable laws.	 	The Maximum Amount
	 	 	 	 	 
	4.	 	Violations of securities laws of any jurisdiction, including without limitation, claims under the U.S. Securities Act of 1933, as amended from time to time, or the U.S. Exchange Act of 1934, as amended from time to time, or under the Israeli Securities Law, as amended from time to time, fraudulent disclosure claims, failure to comply with any securities authority or any stock exchange disclosure or other rules and any other claims relating to relationships with investors, debt holders, shareholders, holders of any other equity or debt instrument of the Company and the investment community and any claims related to the Sarbanes-Oxley Act of 2002, as amended from time to time; claims relating to or arising out of financing arrangements, any breach of financial covenants or other obligations towards lenders or debt holders of the Company, class actions, violations of laws requiring the Company
to obtain regulatory and governmental licenses, permits and authorizations in any jurisdiction; actions taken in connection with the issuance,
purchase, holding or disposition of any type of securities of Company, including, without limitation, the grant of options, warrants or
other rights to purchase any of the same or any offering of the Company’s securities to private investors or to the public, and
listing of such securities, or the offer by the Company to purchase securities from the public or from private investors or other holders,
and any undertakings, representations, warranties and other obligations related to any such offering, listing or offer or to the Company’s
status as a public company or as an issuer of securities.	 	The Maximum Amount

 

    10 

     

    

	 	 	 

                                
	 	 
	5.	 	Liabilities arising in connection with development of any products or services developed, distributed, rendered, sold, provided, licensed or marketed by the Company, and any actions or omission in connection with the distribution, provision, sale, marketing, license or use of such products or services, including without limitation in connection with professional liability and product liability claims.	 	The Maximum Amount
	 	 	 	 	 
	6.	 	The offering of securities by the Company to the public, including the offering of securities by a shareholder in connection with a secondary offering.	 	The gross proceeds raised by the Company and/or any selling shareholder in such public offering
	 	 	 	 	 
	7.	 	The offering of securities by the Company to private investors or the offer by the Company to purchase securities from the public and/or from private investors or other holders pursuant to a prospectus, agreements, notices, reports, tenders and/or other proceedings.	 	The Maximum Amount
	 	 	 	 	 
	8.	 	Events in connection with change in ownership or in the structure of the Company, its reorganization, dissolution, winding up, any other arrangements concerning creditors rights or any decision concerning any of the foregoing, including but not limited to, merger, sale or acquisition of assets, division, spin off, divestiture, change in capital.	 	The Maximum Amount
	 	 	 	 	 
	9.	 	Any claim or demand made in connection with any transaction not in the ordinary course of business of the Company, including the sale, lease or purchase of, or the receipt or any grant of any rights with respect to, any assets or business.	 	The Maximum Amount
	 	 	 	 	 
	10.	 	Any claim or demand made by any third party suffering any personal injury and/or bodily injury or damage to business or personal property or any other type of damage through any act or omission attributed to the Company, or its employees, agents or other persons acting or allegedly acting on its behalf, including, without limitation, failure to make proper safety arrangements for the Company or its employees and liabilities arising from any accidental or continuous damage or harm to the Company’s employees, its contractors, its guests and visitors as a result of an accidental or continuous event, or employment conditions, permanent or temporary, in the Company’s offices.	 	The Maximum Amount
	 	 	 	 	 
	11.	 	Any claim or demand made directly or indirectly in connection with complete or partial failure, by the Company or its directors, officers and employees, to pay, report, keep applicable records or otherwise,
of any foreign, federal, state, county, local, municipal or city taxes or other compulsory payments of any nature whatsoever, including,
without limitation, income, sales, use, transfer, excise, value added, registration, severance, stamp, occupation, customs, duties, real
property, personal property, capital stock, social security, unemployment, disability, payroll or employee withholding or other withholding,
including any interest, penalty or addition thereto, whether disputed or not.	 	The Maximum Amount

 

    11 

     

    

	 	 	 

                                
	 	 
	12.	 	Any administrative, regulatory or judicial actions, orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance or violation by any governmental entity or other person alleging the failure to comply with any statute, law, ordinance, rule, regulation, order or decree of any governmental entity applicable to the Company or any of its businesses, assets or operations, or the terms and conditions of any operating certificate or licensing agreement.	 	The Maximum Amount
	 	 	 	 	 
	13.	 	Participation and/or non-participation at the Company’s Board meetings, bona fide expression of opinion and/or voting and/or abstention from voting at the Company’s Board meetings, including, in each case, any committee thereof.	 	The Maximum Amount
	 	 	 	 	 
	14.	 	Review and approval of the Company’s financial statements and any specific items or matters within, including any action, consent or approval related to or arising from the foregoing, including, without limitations, execution of certificates for the benefit of third parties related to the financial statements.	 	The Maximum Amount
	 	 	 	 	 
	15.	 	Violation of laws, rules or regulations requiring the Company to obtain regulatory and governmental licenses, permits and authorizations (including without limitation relating to export, import, encryption, antitrust or competition authorities) or laws related to any governmental grants in any jurisdiction.	 	The Maximum Amount
	 	 	 	 	 
	16.	 	Resolutions and/or actions relating to investments in the Company and/or its subsidiaries and/or affiliated companies and/or the purchase and sale of assets, including the purchase or sale of companies and/or businesses, and/or investment in corporate or other entities and/or investments in traded securities and/or any other form of investment.	 	The Maximum Amount
	 	 	 	 	 
	17.	 	Liabilities arising out of advertising, including misrepresentations regarding the Company’s products or services and unlawful distribution of emails.	 	The Maximum Amount
	 	 	 	 	 
	18.	 	An announcement or statement, including a position taken or an opinion or representation made in good faith by the Office Holder in the course of his duties or in conjunction with his duties, whether in public or in private, including during a meeting of the Board of Directors of the Company or any of the committees thereof.	 	The Maximum Amount

 

	19.	 	Management of the Company’s bank accounts, including money management, foreign currency deposits, securities, loans and credit facilities, credit cards, bank guarantees, letters of credit, consultation agreements concerning investments including with portfolio managers, hedging transactions, options, futures, and the like.	 	The Maximum Amount
	 	 	 	 	 
	20.	 	Any action or decision in relation to protection of work safety and/or working conditions, including with respect to provisions of the law, procedures or standards as applicable in or outside of Israel with relating to protection of work safety, pertaining, inter alia, to contamination, health protection, production processes, distribution, use, treatment, storage and transportation of certain materials, including in connection with corporal damage, property and environmental damages.	 	The Maximum Amount
	 	 	 	 	 
	21.	 	Any liability arising under any administrative, regulatory, judicial or civil actions orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance or violation of Section 50P of the RTP Law.	 	The Maximum Amount
	 	 	 	 	 
	22.	 	All actions, consents and approvals relating to a distribution of dividends, in cash or otherwise, or to any other “distribution” as such term is defined under the Companies Law.

                                                                       
	 	The Maximum Amount
	

    12 

     

    

	 	 	 

                                
	 	 
	23.	 	Any administrative, regulatory, judicial, civil or criminal, actions orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance, violation or breaches alleging potential responsibility, liability, loss or damage (including potential responsibility or liability for costs of enforcement, investigation, cleanup, governmental response, removal or remediation, property damage or penalties, or for contribution, indemnification, cost recovery, compensation or injunctive relief), whether alleged or claimed by customers, consumers, regulators, shareholders or others, arising out of, based on or related to: (a) cyber security, cyber-attacks, data loss or breaches, unauthorized access to databases and use or disclosure of information contained therein, not preventing or detecting the breach or failing to otherwise disclose or respond to the breach; (b) circumstances forming the basis of any violation of any law, permit, license, registration or other authorization required under applicable law governing data security, data protection, network security, information systems, privacy or any cyber environment (including, users, networks, devices, software, processes, information systems, databases, information in storage or transit, applications, services, and systems that can be connected directly or indirectly to networks); (c) failure to implement a reporting system or control, or failure to monitor or oversee the operation of such a system; (d) data destruction, extortion, theft, hacking, and denial of service attacks; losses or liabilities to others caused by errors and omissions, failure to safeguard data or defamation; or (e) security-audit, post-incident public relations and investigative expenses, criminal reward funds, data breach/privacy crisis management (including, management of an incident, investigation, remediation, data subject notification, call management, credit checking for data subjects, legal costs, court attendance and regulatory fines), extortion liability (including, losses
due to a threat of extortion, professional fees related to dealing with the extortion), or network security liability (including, losses
as a result of denial of access, costs related to data on third-parties and costs related to the theft of data on third-party systems).	 	The Maximum Amount

  

	 	 	Aggregate Limit Amount for all events together.	 	The Maximum Amount

 

 

			*Any reference in this Exhibit
A to the Company shall include the Company and any entity in which the Indemnitee serves in a Corporate Capacity.

 

13Exhibit 10.2

 

I.C.V.T Ltd.

 

2010 Option Plan

 

1. 
Name. This plan, as adopted by the Board of Directors of I.C.V.T Ltd. (the “Company”) on December 22,
2010, and as amended from time to time, shall be known as the “I.C.V.T Ltd. 2010 Option Plan” (the “Plan”).

 

2. 
Purpose of the Plan. The purposes of this Plan are to attract and retain the best available individuals for positions of
substantial responsibility, and to promote the success of the Company’s and Affiliate’s business by aligning the financial interests
of individuals providing services to the Company and Affiliates with long-term shareholder value.

 

3. 
Headings and Definitions

 

3.1.
The section headings are intended solely for the reader’s convenience and in no event shall they constitute a basis for the
interpretation of the Plan.

 

3.2.
In this Plan, the following terms shall have the meanings set forth beside them:

 

	 	“Affiliate”	
    Corporate entities who are related to the Company
    by way of common ownership or control, either directly or indirectly, either partially or entirely, including but not limited to any “employing
    company” as defined in Section 102(a) of the Ordinance;

     

	 	“Applicable Law”	
    The legal requirements applicable to the administration
    of option and share award plans, any Stock Exchange rules or regulations and the applicable laws, rules and regulations of any country
    or jurisdiction where Options are granted under the Plan, as such laws, rules, regulations and requirements shall be in place from time
    to time;

     

	 	“Approved Option”	
    An Option granted under Section 102(b)(2) of the
    Ordinance, in accordance with the “capital gain tax route”, and other rights granted with respect to such Option;

     

	 	“Board”	
    The Company’s Board of Directors, or, subject
    to applicable law and the Company’s Articles of Association, any committee empowered by the Board for the purpose of implementation of
    this Plan (or any aspect thereof);

     

 

     

     

    

 

	 	“Cause”	
    Any of the following-

     

    (a) A material breach of the employment or engagement
    agreement between the Company or an Affiliate and a Participant, including but not limited to, a breach of any confidentiality duty of
    a Participant (including in regards to the confidentiality of this Plan and any grant made thereunder), inappropriate use of confidential
    information of the Company or an Affiliate or an event of breach of trust or breach of any non-competition obligation of a Participant;

     

    (b) Any act which constitutes a breach of a Participant’s
    fiduciary duty towards the Company or an Affiliate, including without limitation disclosure of confidential information of the Company
    or an Affiliate and acceptance or solicitation to receive unauthorized or undisclosed benefits, irrespective of their nature, or funds
    or promises to receive either, from individuals, Consultants or corporate entities that the Company or an Affiliate does business with;

     

    (c) Any act of fraud by a Participant or embezzlement
    of funds of the Company or an Affiliate;

     

    (d) Any conduct or omission by, or state of affairs
    related to, the Participant reasonably determined by the Board to be materially detrimental to, or against the interests of, the Company
    or an Affiliate;

     

    (e) Any conviction of any felony involving moral
    turpitude or affecting the Company or an Affiliate;

     

    (f) Circumstances justifying the revocation and/or
    reduction of a Participant’s entitlement to severance pay pursuant to Sections 16 or 17 of the Severance Pay Law, 1963; or

     

    (g) Any other reason which is be defined as Cause
    in the Participant’s personal employment contract.

     

	 	“Company”	
    I.C.V.T Ltd.,
    a company incorporated under the laws of the State of Israel, or any Successor Company; 

     

	 	“Consultant”	
    Shall mean any person, except an Employee, engaged
    by the Company or an Affiliate, in order to render services to such company, including as an advisor or officer;

     

	 	“Controlling Shareholder”	
    A controlling shareholder of the Company as defined
    in section 32(9) of the Ordinance;

     

	 	“Employee”	
    Shall mean any person, who is a common law employee
    of the Company or an Affiliate, and who is on the payroll of such the Company or an Affiliate, or, solely in respect of Approved Options,
    any officer or a member of the board of directors of such company all in accordance with Section 102;

     

	 	“Exercise Price”	
    Shall mean the consideration required to be paid
    by a Participant in order to exercise one Option;

     

	 	“Expiration Date”	
    With respect to an Option, the earlier of
(i) the time such Option is fully exercised, or (ii) ten (10) years from the Grant Date of such Option, or (ii) the time on which such
Option expires in accordance with Sections 9 and 12 below;

     

 

    2

     

    

 

	 	
    “Fair Market Value” 

     
	
    Shall mean, as of any date, the value of an ordinary
    share of the Company determined as follows:

     

    (i) If the ordinary shares are listed on any established
    Stock Exchange, the Fair Market Value shall be the closing sales price for such ordinary shares (or the closing bid, if no sales were
    reported), as quoted on such Stock Exchange for the last market trading day prior to the time of determination;

     

    (ii) If the ordinary shares are regularly quoted
    by a recognized securities dealer but selling prices are not reported, the Fair Market Value shall be the mean between the high bid and
    low asked prices for the ordinary shares on the last market trading day prior to the day of determination, or;

     

    (iii) In the absence of any of the above, the
    Fair Market Value thereof shall be determined in good faith by the Board of Directors of the Company.

     

    For the avoidance of doubt, the above definition
    of Fair Market Value shall not apply for the purpose of determining the tax liability pursuant to Section 102(b)(3) of the Ordinance;

     

	 	“Grant Date”	
    The date on which an Option is granted to a Participant,
    as set forth in the resolution of the Board granting such Option;

     

	 	“Holding Period”	
    the holding period provided under Section 102
    in respect of the “capital gain tax route” or under a tax ruling by the Israeli Tax Authority;

     

	 	“Ordinance”	
    The Israeli Income Tax Ordinance [New Version],
    1961, as amended from time to time;

     

	 	“Option”	
    An option to purchase one Share, granted to a
    Participant, subject to the provisions of this Plan and the applicable Option Agreement;

     

	 	“Option Agreement”	
    A written agreement between the Company and a
    Participant setting forth the terms and conditions under which Options are granted to a Participant;

     

	 	“Participant”	
    Shall mean an Employee of or Consultant of the
    Company or an Affiliate to which an Option was granted;

     

	 	“Plan”	
    Shall mean this
    I.C.V.T Ltd. 2010 Option Plan, including any amendments thereto;

     

	 	“Section 102”	
    Section 102 of the Ordinance and the Israeli Income
    Tax Rules (Tax Relief in Issuance of Shares to Employees) 2003, as amended from time to time;

     

	 	“Share”	
    An ordinary share of the Company, nominal value
    NIS 0.01, which is issued or issuable to a Participant upon exercise of an Option;

     

	 	
    “Stock Exchange”

     
	
    Any stock exchange, on which ordinary shares of
    the Company are listed, or such other market or a national market system, on which the Company’s ordinary shares’ prices are
    regularly quoted;

     

 

    3

     

    

 

	 	
    “Structural Change”

     

     
	
    Any Deemed Liquidation Event, as defined herein
    or as such term (or any other equivalent term) may be determined pursuant to the Company’s Articles of Association in effect from time
    to time.

     

    The term “Deemed Liquidation Event”
    means any of the following transactions:

     

    (i) the sale or other irrevocable disposition
    of all or substantially all of the assets or the issued and outstanding shares of the Company or any subsidiary of the Company; or

     

    (ii) the consolidation or merger or other reorganization
    of the Company with or into any other person

     

    other than, in each of the
    cases described in subsections (i) and (ii), a transaction in which the shareholders of the Company prior to the transaction will maintain
    exactly the same voting control of the resulting entity after the transaction (provided, however, that shares of the surviving entity
    held by shareholders of the Company acquired by means other than the exchange or conversion of the shares of the Company shall not be
    used in determining if the shareholders of the Company own more than fifty percent (50%) of the voting power of the surviving entity (or
    its parent), but shall be used for determining the total outstanding voting power of the surviving entity).

     

	 	“Successor Company”	
    Shall mean any entity with or into which the Company
    merged, or to which certain operations or certain assets of the Company were transferred, or which purchased substantially all the Company’s
    assets or ordinary shares, provided that the Company is not the surviving entity;

     

	 	“Tax”	
    Any applicable tax and other compulsory payments
    such as social security and health tax contributions under any applicable law;

     

	 	
    “Termination”

     
	
    For an Employee, the termination of employment
    as an Employee, and for a Consultant, the interruption, expiration, or termination of such person’s consulting or advisory relationship
    with the Company or an Affiliate, or the occurrence of any termination event as set forth in such person’s Option Agreement; 

     

    For the purpose of this Plan, any temporary interruption
    in such person’s availability to provide services to the Company or an Affiliate, which has been authorized in writing by the Board
    prior to its commencement, shall not be considered as Termination;

     

 

    4

     

    

 

	 	“Termination Date”	
    With regard to any Employee, the first date following
    the Date of Grant on which there are no longer employment relations between such Employee and the Company or an Affiliate, for any reason
    whatsoever; however for the purpose of Termination for Cause, the Termination Date is the date on which a notice regarding such termination
    was sent by the Company or an Affiliate to the Employee;

     

    With regard to any Consultant, the earlier of
    (i) the date of termination of the agreement between the Consultant and the Company or an Affiliate; or (ii) the date on which a notice
    regarding such termination of agreement was sent by the Company or an Affiliate, or by the Consultant, to the other party;

     

	 	“Transfer”	
    With respect of any Option or Share – the
    sale, assignment, transfer, pledge, mortgage or other disposition thereof or the grant of any right to a third party thereto;

     

	 	“Trustee”	
    Any trustee appointed by the Company in accordance
    with Section 102 and approved by the Israeli Tax Authority;

     

	 	
    “Non-Approved 102 Option”

     
	An Option which is governed by Section 102(c) of the Ordinance;
	 	“Vesting Date”	
    The date upon which the Option becomes exercisable,
    as determined in accordance with this Plan and set forth in the Option Agreement.

     

 

4. 
Administration of the Plan

 

4.1.
The Board shall have the power to administer the Plan.

 

4.2.
Subject to the provisions of the Plan, Applicable Law and the Company’s incorporation documents, the Board shall have the authority,
at its discretion: (i) to grant Options to Participants; (ii) to determine the terms and provisions of each Option granted (which need
not be identical), including, but not limited to, the number of Options to be granted to each Participant, provisions concerning the time
and the extent to which the Options may be exercised, the underlying Shares sold and the nature and duration of restrictions as to the
Transferability of Options and/or Shares; (iii) to amend, modify or supplement (with the consent of the applicable Participant, if such
amendments adversely affect the terms of his Options) the terms of each outstanding Option; (iv) to interpret the Plan; (v) to prescribe,
amend, and rescind rules and regulations relating to the Plan, including the form of Option Agreements; (vi) to authorize conversion or
substitution under the Plan of any or all Options or Shares and to cancel or suspend Options, as necessary, provided the interests of
the Participants are not harmed; (vii) to accelerate or defer (with the consent of the Participant) the right of a Participant to exercise
in whole or in part, any previously granted Options; (viii) to authorize any person to execute on behalf of the Company any instrument
required to effectuate the grant of an Option previously granted by the Board; and (ix) to make all other determinations deemed necessary
or advisable for the administration of the Plan.

 

    5

     

    

 

4.3.
This Plan shall apply to grants of Options made following the adoption of this Plan by the Board.

 

4.4.
All decisions, determinations, and interpretations of the Board shall be final and binding on all Participants unless otherwise
determined by the Board.

 

5. 
Eligibility. Options may be granted to Employees or Consultants and to persons who have signed an employment or consultancy
agreement with the Company or an Affiliate; An Approved Option and a Non-Approved Option may only be granted to Israeli Employees of an
Israeli resident Affiliate as stated in Section 102 (“Israeli Employees”), who at the time of grant, or as a consequence
of the grant are not a Controlling Shareholders of the Company.

 

6. 
Shares Reserved for the Plan 

 

6.1.
The Company may designate Options granted to Israeli Employees pursuant to Section 102 as Non-Approved Options or Approved Options.

 

6.2.
Subject to Section 12.1 of the Plan, the maximum aggregate number of Shares that may be subject to awards under the Plan and any
other share and option plans which may be adopted by the Company in the future, subject to any adjustment made to the share capital of
the Company by way of share split, reverse share split, distribution of share dividend or similar recapitalization events, at any time
hereafter, shall be such number of Shares, as determined by the Board from time to time. The Shares may be authorized but unissued ordinary
shares, or reacquired ordinary shares of the Company. If an Option should expire or become un-exercisable for any reason without having
been exercised in full Shares that were subject thereto shall, unless the Plan shall have been terminated, become available for future
grant under the Plan. Shares issued under the Plan and later repurchased by the Company pursuant to any repurchase right which the Company
may have, shall be available for future grant under the Plan.

 

6.3.
The Company’s election of the type of Approved Options granted to Israeli Employees (the “Election”),
shall be appropriately filed with the Israeli Tax Authority before the first Grant Date of an Approved Option under such Election. Such
Election shall become effective beginning the first Grant Date of an Approved Option under such Election and shall remain in effect until
the end of the year following the year during which the Company first granted Approved Options under such Election. The Election shall
obligate the Company to grant only the type of Approved Option it has elected, and shall apply to all Participants who were granted Approved
Options 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 Non-Approved Options or other Options simultaneously.

 

6.4.
The Company during the term of this Plan will at all times reserve and keep available such number of Shares as shall be sufficient
to satisfy the requirements of the Plan.

 

7. 
Options 

 

7.1.
Grant

 

7.1.1.
The Board may grant from time to time to Participants, Options on a personal basis. The Options granted pursuant to the Plan, shall
be evidenced by a written Option Agreement between the Company and the Participant, in such form as the Board shall from time to time
approve. Each Option Agreement shall state, among other matters, the number of Options granted, the Vesting Dates, the Exercise Price,
the tax route and such other terms and conditions as the Board at its discretion may prescribe, provided that they are consistent with
this Plan.

 

    6

     

    

 

7.1.2.
Options which are Approved Options, as determined in the Option Agreement, and any Shares issued in respect of such Approved Option
shall be subject to the Trustee’s trusteeship, as provided in Section 11 below. Any grant of an Approved Option shall be subject
to compliance with the conditions of Section 102 including and shall be granted only after the submission of the Plan for approval by
the Israeli Tax Authority.

 

7.2.
Vesting.

 

The Board shall set vesting
criteria in its discretion, which, depending on the extent to which the criteria are met, will determine the number of Options that will
vest and become exercisable. The Board may set vesting criteria based upon the achievement of Company-wide, business unit, or individual
goals (including, but not limited to, continued employment), or any other basis determined by the Board in its discretion. Unless otherwise
determined by the Board, all Options granted under this Plan shall vest over a 4-year period, with 25% thereof vesting on the end of a
12-month period following the date of grant (or the date of commencement of employment or service relationship, as applicable), and the
remaining 75% thereof vesting in 12 equal portions at the end of each 3-month period thereafter. The vesting conditions and schedule shall
be set in the applicable Option Agreement. No Option shall be exercised after the Expiration Date. The vesting provisions of individual
Options may vary.

 

7.3.
An Option may be subject to such other terms and conditions, not inconsistent with the Plan, on the time or times when it may be
exercised as the Board may deem appropriate.

 

7.4.
Exercise of Options

 

7.4.1.
An Option shall be exercised by submission to the Company of a notice of exercise, in a form set by the Company. The exercise of
an Option shall occur on such time on which a notice of exercise has been received by the Company accompanied by payment in full of the
Exercise Price payable therefor, and as soon as practicable thereafter the Company will issue the Share(s) underlying such exercised Option,
provided that the Shares so issued shall not be delivered to the Participant or any third party (other than the Trustee, if applicable)
unless and until all applicable Tax was paid to the Trustee’s (if applicable) and the Company’s full satisfaction and subject
to compliance with Applicable Law.

 

7.4.2.
Except as otherwise provided in the Plan or in an Option Agreement, an Option may be exercised in full or in part, provided it
is not exercised for a fraction of a Share.

 

7.4.3.
Notices of exercise of Options, which are submitted after the Expiration Date, or which relate to Options that have not yet vested,
or which do not contain all of the details required by the exercise form, shall not be accepted and shall have no force whatsoever.

 

7.4.4.
The Participant shall sign any document required under any Applicable Law or by the Company or the Trustee for the purposes of
issuance of the Shares.

 

7.5.
Consideration.

 

7.5.1.
The Exercise Price of each Share subject to an Option shall be determined by the Board in its sole and absolute discretion in accordance
with applicable law, subject to any guidelines as may be determined by the Board from time to time. Each Option Agreement will contain
the Exercise Price determined for each Option covered thereby (but in any event, not less than the nominal value of the Share issuable
upon exercise thereof).

 

    7

     

    

 

7.5.2.
The Exercise Price shall be paid in cash or cheque at the time the Option is exercised. Should the Company’s ordinary shares be
listed for trade on a Stock Exchange the Board may consider allowing a cashless exercise, subject to the provisions of Applicable Law.
If, as of the date of exercise of an Option the Company is then permitting cashless exercises, the Participants will be able to engage
in a “same-day sale” cashless brokered exercise program, involving one or more brokers, through such a program that complies
with the Applicable Laws and that ensures prompt delivery to the Company of the amount required to pay the Exercise Price and any Tax.

 

7.5.3.
The Exercise Price shall be denominated in the currency of the primary economic environment of, at the Company’s discretion,
either the Company or the Participant (that is the functional currency of the Company or the currency in which the Participant is paid).

 

8. 
Terms and Conditions of the Options. Options granted under the Plan shall be evidenced by the related Option Agreement and
shall be subject to the following terms and conditions and to such other terms and conditions included in the Option Agreement not inconsistent
therewith, as the Board shall determine:

 

8.1.
Non Transferability of Option. Unless otherwise determined by the Board, an Option shall not be Transferable by the Participant
other than by will or by the laws of descent. Options or rights arising therefrom shall not be subject to mortgage, attachment or other
willful encumbrance, and no power of attorney shall be issued in respect thereof, whether such enter into force immediately or at a future
date.

 

8.2.
One Time Benefit. The Options and underlying Shares are extraordinary, one-time benefits granted to the Participants, and
are not and shall not be deemed a salary component for any purpose whatsoever, including in connection with calculating severance compensation
under any Applicable Law.

 

8.3.
Fractions. An Option may not be converted into a fraction of a Share. In lieu of issuing fractional Shares, on the vesting
of a fraction of an Option, the Company shall convert any such fraction of an Option, which represents a right to receive 0.5 or more
of a Share, to one Share and shall extinguish any such fraction of an Option, which represents a right to receive less than 0.5 of a Share
without issuing any Shares.

 

8.4.
Term. No full or partial exercise of an Option shall be carried out following the Expiration Date of such Option.

 

9. 
Termination of Employment or Engagement. 

 

9.1.
Unvested Options. Unless otherwise determined by the Board, in the case of Termination, any Option or portion thereof that
was not vested as of the Termination Date shall immediately expire on the Termination Date.

 

    8

     

    

 

9.2.
Vested Options

 

9.2.1.
Termination other than for Cause. 

 

9.2.1.1.
Unless otherwise determined by the Board, in the case of Termination other than for Cause, any Option or portion thereof that is
vested as of the Termination Date may be exercised but only within such period of time ending on the earlier of (i) ninety (90) days following
the Termination Date, or (ii) the Expiration Date, but only to the extent to which such Option was exercisable at the time of the Termination
Date. If, after the Termination Date, the Participant does not exercise his or her Option within the time specified above or in the Option
Agreement, the Option shall expire.

 

9.2.1.2.
In the event of (i) Termination as a result of the Participant’s death or disability or (ii) the Participant dies within
the period (if any) specified in the Option Agreement after the Termination Date, then the Option may be exercised (to the extent exercisable
as of the date of death) by the Participant’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 Participant’s death, but only within the period ending on the earlier
of (1) the date twelve (12) months following the date of death or the Termination Date due to disability (as the case may be) (or such
longer or shorter period specified in the Option Agreement) or (2) the Expiration Date. If, after death or termination due to disability
(as the case may be), the Option is not exercised within the time specified herein, the Option shall expire.

 

9.2.1.3.
If the exercise of an Option following the Termination Date would be prohibited at any time solely because the issuance of Shares
would violate requirements of any Applicable Law, then the Option shall expire at the end of a period of ninety (90) days after the Termination
Date, or twelve (12) months after the date of death, as applicable, during which the exercise of the Option would not be in violation
of such requirements.

 

9.2.1.4.
It is clarified that during such periods following the Termination Date the Participant’s entitlement to Options shall not continue
to vest.

 

9.2.1.5.
The Board shall have the sole authority to extend the exercise periods detailed in sections 9.2.1.1 – 9.2.1.3 above at its
sole discretion.

 

9.2.2. Termination
for Cause. If a Participant’s employment or engagement with the Company is terminated for Cause, any Option or portion
thereof that has not been exercised as of the Termination Date shall immediately expire on the Termination Date.

 

9.3.
No Participant shall be entitled to claim against the Company that he or she was prevented from continuing to vest Options as of
the Termination Date. Such Participant shall not be entitled to any compensation in respect of the Options which would have vested in
his favor had such Participant’s employment or engagement with the Company not been terminated.

 

10. 
No Right to Employment, Service or Shares. The grant of an Option or a Share under the Plan shall impose no obligation on
the Company or an Affiliate to continue the employment of any Employee or the engagement with any Consultant and shall not lessen or affect
the Company’s or an Affiliate’s right to terminate the employment or service relationship of such Participant at any time and/or for any
or no reason with or without Cause. No Participant or other person shall have any claim to be granted any Options, and there is no obligation
for uniformity of treatment of Participants, or holders or beneficiaries of Options. The terms and conditions of Options and the Board’s
determinations and interpretations with respect thereto need not be the same with respect to each Participant (whether or not such Participants
are similarly situated).

 

    9

     

    

 

Nothing contained in the
Plan shall prevent the Company from adopting, adjusting or continuing in effect compensation arrangements, which may, but need not, provide
for the grant of Options or Shares.

 

11. 
Trust

 

11.1. Approved Options and
any Shares issued in connection with such Approved Options shall be held by the Trustee for the benefit of the Participant, in accordance
with the provisions of Section 102 in the “capital gain tax route”. Any grant and any exercise of an Option or sale of a Share
shall be notified to the Trustee.

 

11.2. The validity of any
order given to the Trustee by a Participant shall be subject to approval of such order by the Company. The Company does not undertake
to approve orders given by any Participant to the Trustee within any period of time.

 

11.3. Subject to the provisions
of this Plan, the Approved Options and any Shares issued in connection with such Approved Options shall not be released from the control
of the Trustee nor shall they be Transferred unless the Company and the Trustee are satisfied that the full amounts of Tax due by the
applicable Participant have been paid or will be paid.

 

11.4. Subject to the provisions
of Section 102, a Participant shall not Transfer or release from the control of the Trustee any Approved Option or any Share issued in
connection with such Approved Options, until the lapse of the Holding Period. Notwithstanding the above, if any such sale, release or
Transfer occurs during the Holding Period, the sanctions under Section 102 shall apply to and shall be borne by such Participant.

 

11.5. As long as the Approved
Options and any Shares issued in connection with such Approved Options are held by the Trustee for the benefit of the Participant, all
rights of the Participant over the Approved Options and Shares cannot be Transferred other than by will or laws of descent and distribution.

 

11.6. Without derogating
from the aforementioned, the Board shall have the authority to determine the specific procedures and conditions of the trusteeship with
the Trustee in a separate agreement between the Company and the Trustee, all subject to Section 102.

 

11.7. Should the Approved
Options or any Shares issued in connection with such Approved Options be transferred by power of a last will or under laws of decent,
the provisions of Section 102 shall apply to the heirs or transferees of the deceased Participant.

 

11.8. Approved Options that
do not comply with the requirements of Section 102 shall be considered Non-Approved 102 Options.

 

12. 
Adjustments to the Shares subject to the Plan

 

12.1. Adjustment Due
to Change in Capital. If the ordinary shares of the Company shall at any time be changed or exchanged by declaration of a share dividend
(bonus shares), share split, combination or exchange of shares, recapitalization, or any other like event by or of the Company, and as
often as the same shall occur, then the number and class of the Shares underlying the Options subject to the Plan and the Exercise Price
of the Options shall be appropriately and equitably adjusted so as to maintain the proportionate equity portion represented by the Option,
provided, however, that no adjustment shall be made by reason of the distribution of subscription rights (rights offering) on outstanding
ordinary shares or other issuance of shares by the Company. Upon happening of any of the foregoing, the class and aggregate number of
Shares underlying the Options, issuable pursuant to the Plan under section 6 above, shall be appropriately adjusted by the Board, whose
determination in that respect shall be final, binding, and conclusive. Except as expressly provided herein, no issuance by the Company
of shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment by reason thereof shall be
made with respect to, the number or price of Shares underlying an Option. Any adjustment according to this section shall be subject to
the receipt of a tax ruling or approval from the tax authorities, as necessary.

 

    10

     

    

 

12.2. Structural Change.
Without derogating from the Board’s general power under the Plan, in the event of any Structural Change, the Board shall be entitled
(but not obliged), at its sole discretion, to determine any of the following: (i) provide for an assumption or exchange of Options and/or
Shares for options and/or shares and/or other securities or rights of the Successor Company; and/or (ii) provide for an exchange of Options
or Shares for a monetary compensation; and/or (iii) determine that all unvested Options and un-exercised vested Options shall expire on
the date of such Structural Change. In the case of assumption and/or substitution of Options, appropriate adjustments shall be made so
as to reflect such action and all other terms and conditions of the Option Agreements shall remain unchanged, including but not limited
to the vesting schedule, all subject to the determination of the Board, which determination shall be at its sole discretion and final.
The grant of any substitutes for the Options and/or Shares to Participants further to a Structural Change, as provided in sub-clauses
(i) and (ii), shall be considered as full compliance with the terms of this Plan. The value of the exchanged Options and/or Shares pursuant
to this section 12.2 shall be determined in good faith solely by the Board, based on the Fair Market Value, and its decision shall be
final and binding on all the Participants.

 

Unless determined otherwise
by the Board of Directors, any Options not assumed or exchanged for options and/or shares and/or other securities or rights of the Successor
Company shall expire immediately prior to the consummation of the Structural Change.

 

For the purposes of this
section 12.2, Options shall be considered assumed or substituted if, following the Structural Change, the Options confer the right to
purchase or receive, for each underlying Share immediately prior to the Structural Change, the consideration (whether shares, options,
cash, or other securities or property) received in the Structural Change by holders of ordinary shares held on the effective date of the
Structural Change (and if such holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority
of the outstanding ordinary shares); provided, however, that if such consideration received in the Structural Change is not solely
ordinary shares (or their equivalent) of the Successor Company or its parent or subsidiary, the Board may, with the consent of the Successor
Company, provide for the consideration received in the Structural Change, for each Share underlying an Option immediately prior to the
Structural Change, to be solely ordinary shares (or their equivalent) of the Successor Company or its parent or subsidiary equal in value
to the per Share consideration received by holders of a majority of the outstanding ordinary shares in the Structural Change; and provided
further that the Board may determine, at its discretion, that in lieu of such assumption or substitution of Options for options of
the Successor Company or its parent or subsidiary, such Options will be substituted for any other type of asset or property including
cash which is fair under the circumstances.

 

Without derogating from
the above, in the event of a Structural Change the Board shall be entitled, at its sole discretion, to require the Participants to exercise
all vested Options 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 ordinary shares as part of the Structural Change.

 

    11

     

    

 

12.3.
Liquidation. In the event of the proposed dissolution or liquidation of the Company, all Options will expire immediately prior
to the consummation of such proposed action, unless otherwise provided by the Board. 

 

13. 
Taxes and Withholding Tax

 

13.1. Approved Options and
Non-Approved 102 Options shall be taxed in accordance with Section 102. For the avoidance of doubt it is clarified that any Option granted
to a Consultant or a Controlling Shareholder or any Option granted to a Participant who is not an Israeli tax resident, shall not be subject
to the provisions of Section 102 and shall be taxed in accordance with Applicable Law.

 

13.2. Any Tax imposed in
respect of the Options and/or Shares, including, but not limited to, in respect of the grant of Options, and/or the exercise of Options
into Shares, and/or the Transfer, waiver, or expiration of Options and/or Shares, and/or the sale of Shares, shall be borne solely by
the Participants, and in the event of death by their heirs or transferees. The Company, the Affiliates, the Trustee (if applicable) or
anyone on their behalf shall not be required to bear the aforementioned Taxes, directly or indirectly, nor shall they be required to gross
up such Tax in the Participants’ salaries or remuneration. The applicable Tax shall be deducted from the proceeds of sale of Shares
or shall be paid to the Company, an Affiliate or the Trustee (if applicable) by the Participants. Without derogating from the aforementioned,
the Company, an Affiliate and the Trustee (if applicable) shall be entitled to withhold Taxes according to the requirements of any Applicable
Laws, rules, and regulations, including withholding taxes at source.

 

13.3. The Company’s or Trustee’s
(if applicable) obligation to deliver Shares upon exercise of an Option or to sell or transfer Shares is subject to payment (or provision
for payment satisfactory to the Board and the Trustee (if applicable)) by the Participant of all Taxes due by him under any Applicable
Law.

 

13.4. The Participants shall
indemnify the Company and/or the applicable Affiliate and/or the Trustee (if applicable), immediately upon request, for any Tax (including
interest and/or fines of any type and/or linkage differentials in respect of Tax and/or withheld Tax) for which the Participant is liable
under any Applicable Law or under the Plan, and which was paid by the Company, the Affiliate or the Trustee (if applicable), or which
the Company, the Affiliate or the Trustee (if applicable) are required to pay. The Company, the Affiliate and the Trustee (if applicable)
may exercise such indemnification by deducting the amount subject to indemnification from the Participants’ salaries or remunerations.

 

13.5. In respect to Non-Approved
102 Options, if there occurs a Termination of the Participant’s service to or employment with the Company, the Participant shall extend
to the Company or the applicable Affiliate a security or guarantee for the payment of Tax due in respect of such Option as required under
Section 102.

 

14. 
Registration of the Shares on a Stock Exchange 

 

14.1. Should reorganization
or certain other arrangements regarding the Company’s share capital be necessary prior to the registration of the Company’s
ordinary shares or their respective depositary receipts on a Stock Exchange, such arrangements or reorganization may be also carried out
in respect of the Participants and their Options and/or Shares.

 

14.2. The Participant acknowledges
that in the event that the Company’s ordinary shares or their respective depositary receipts shall be registered for trading in
any Stock Exchange, or in the event of a private offering of shares, the Participant’s rights to sell the Shares may be subject
to certain limitations (including a lock-up period), as will be requested by the Company or its underwriters, and the Participant unconditionally
agrees and accepts any such limitations.

 

    12

     

    

 

14.3. The Company does not
undertake to cause the ordinary shares or the Shares to be listed on a Stock Exchange, or that the registration of the ordinary shares
for trade, if at all, shall take place within a certain period of time.

 

15. 
The Rights Attached to the Shares

 

15.1. Equal Rights.
The Shares constitute part of the ordinary shares of the Company, and they shall have equal rights for all intents and purposes as the
rights attached to the ordinary shares of the Company, subject to the provisions of this Plan and any Option Agreement. The Shares, being
part of the ordinary shares of the Company, shall not be protected against dilution in any manner whatsoever, unless otherwise determined
by the Board. It is hereby clarified that the Shares shall not constitute a separate class of shares, but shall be an integral part of
the Company’s ordinary shares.

 

Any change of the Company’s
Articles of Association or any other incorporation document, which may change the rights attached to the Company’s ordinary shares,
shall also apply to the Shares, and the provisions hereof shall apply with the necessary modifications arising from any such change.

 

The grant of Options and
Shares under this Plan shall not restrict the Company in any way regarding future creation of additional and/or other classes of shares,
including classes of shares, which may in any manner be preferred over the currently existing ordinary shares which are offered to Participants
under this Plan. Subject to section 12.1 above, the grant of Options and Shares under this Plan shall not entitle any Participant to receive
any compensation in the event of any change of the Company’s capital.

 

15.2. Dividend Rights.
No Participant shall have any rights to receive dividends in respect of the Shares underlying any outstanding Options, until such Options
are exercised into Shares and these Shares are issued to the Participant or the Trustee. Following the issuance of such Shares by the
Company, such Shares will entitle the Participant to receive any dividend, to which other holders of ordinary shares in the Company are
entitled.

 

15.3. Right of First
Refusal 

 

15.3.1. Notwithstanding
anything to the contrary in the incorporation documents of the Company, none of the Participants shall have a right of first refusal in
relation with any sale of shares in the Company by virtue of the Shares held by such Participant or for its benefit.

 

15.3.2. Unless otherwise
determined by the Board, until consummation of an initial public offering of the Company’s securities under the securities laws
of any jurisdiction (“IPO”), a Participant shall not have the right to sell Shares issued upon the exercise of an Option
within six (6) months and one day of the date of exercise of such Option or issuance of such Shares.

 

15.3.3. Sale of Shares by
the Participant shall be subject to a right of first refusal as set forth in the incorporation documents of the Company or any shareholders
agreements, investors’ rights agreements or similar agreement(s) by which some or all holders of ordinary shares of the Company are bound.
In the event that the incorporation documents or such agreements of the Company do not contain any provision regarding rights of first
refusal, then, unless otherwise determined by the Board, until consummation of an IPO, the sale of Share issuable upon the exercise of
an Option shall be subject to a right of first refusal on the part of the Repurchaser(s).

 

    13

     

    

 

“Repurchaser(s)”
means (i) the Company, if permitted by applicable law, (ii) if the Company is not permitted by applicable law, then any affiliate of the
Company designated by the Board; or (iii) if no decision
is reached by the Board, then the Company’s then existing shareholders who hold more than 2% of the then issued and outstanding
share capital of the Company (save, for avoidance of doubt, for other Participants who already exercised their Options), pro rata in accordance
with their respective shareholding. 

 

The Participant shall give
a notice of sale (hereinafter the “Notice”) to the Company in order to offer the Shares to the Repurchaser(s).

 

15.3.4.
The Notice shall specify the name of each proposed purchaser or other transferee (hereinafter the
“Proposed Transferee”), the number of Shares offered for sale, the price per Share and the payment terms. The Repurchaser(s)
will be entitled for thirty (30) days from the day of receipt of the Notice (hereinafter the “Notice Period”), to purchase
all or part of the offered Shares on a pro rata basis based upon their respective holdings in the Company. 

 

15.3.5.
If by the end of the Notice Period not all of the offered Shares have been purchased by the Repurchaser(s), the Participant shall be entitled
to sell all Shares at any time during the ninety (90) days following the end of the Notice Period on terms not more favorable than those
set out in the Notice, provided that the Proposed Transferee agrees in
writing that the provisions of this Section shall continue to apply to the Shares in the hands of such Proposed Transferee. Any sale of
Shares issued under the Plan by the Participant that is not made in accordance with the Plan or the Option Agreement shall be null and
void.

 

15.3.6. The Board shall
be entitled not to approve and/or recognize a transfer of Shares if such a transfer has not been performed in accordance with the provisions
of this section 15.3 or in the event that it has not been preformed in accordance with the provisions of Section 102 and/or section 11
above.

 

15.3.7. In the event that
the Participant’s Shares shall be over-subscribed, each Repurchaser shall be entitled to purchase his pro-rate share of the Shares
(calculated by dividing each acquiring Repurchaser’s rates of holdings
or beneficially ownership in the Company, by the aggregate rates of holdings or beneficially ownership in the Company of all the Repurchaser
who wish to acquire the Shares).

 

15.3.8. Without derogating
from the aforementioned, and in addition thereto, any sale of Shares in accordance with this section 15.3 shall be subject to the prior
approval of the Board.

 

15.4. Bring
Along. For the avoidance of doubt it is clarified that as part of the ordinary shares of the Company, Shares
issued upon exercise of Options or in connection thereto shall be subject to any bring-along provision included in the incorporation documents
of the Company or any shareholders agreement or similar agreement(s) by which some or all holders of ordinary shares of the Company are
bound. 

 

15.5. Voting
Rights. No Participant shall have any rights to vote in the Company’s meetings in respect of underlying Shares, until such Shares
are issued to the Participant or the Trustee. Following the issuance of such Shares by the Company, the Participant shall have the same
voting rights as other holders of ordinary shares in the Company do. Notwithstanding the aforesaid, and as long as the Company’s
ordinary shares are not traded on a Stock Exchange, any Shares issued upon the exercise of an Option shall be voted by an irrevocable
proxy, such proxy to be assigned to the person or persons designated by the Board.

 

    14

     

    

 

16. 
Changes to the Plan. The Board shall be entitled, from time to time, to update and/or change the terms of this Plan, in
whole or in part, at its sole discretion, provided that in the Board’s opinion such a change shall not materially derogate from
the rights attached to the Options and/or Shares already granted under this Plan, unless mutually agreed otherwise between the Participant
and the Company. The Board shall be entitled to terminate this Plan at any time, provided that such termination shall not materially affect
the rights of Participants, to whom Options have already been granted.

 

17. 
Effective Date and Duration of the Plan

 

17.1. The Plan shall be
effective as of the day it was adopted by the Board and shall terminate at the end of ten (10) years from such day of adoption.

 

17.2. The Company shall
obtain the approval of the Company’s shareholders for the adoption of this Plan or for any amendment to this Plan, if shareholders’
approval is necessary or desirable to comply with any Applicable Law, including without limitation the securities laws of jurisdictions
applicable to Options granted to Participants under this Plan, or if shareholders’ approval is required by any authority or by any
governmental agency or by any national securities exchange, including without limitation the US Securities and Exchange Commission.

 

17.3. Termination of the
Plan shall not affect the Board’s ability to exercise the powers granted to it hereunder with respect to Options granted under the
Plan prior to the date of such termination.

 

18. 
Successors and Assigns. The Plan and any Option granted thereafter shall be binding on all successors and assigns of the
Company and a Participant, including, without limitation, the estate of such Participant and the executor, administrator or trustee of
such estate, or any receiver or trustee in bankruptcy or representative of the Participant’s creditors.

 

19. 
Miscellaneous 

 

19.1. Notices. Notices
and requests regarding this Plan shall be sent in writing by registered mail or by courier to the addresses of the Company and the Participant
as follows: if to the Company: at its principal offices; if to the Participant - to the Participant’s address, as registered in
the Company’s registries. Such notices shall be deemed received at the addressee as follows: if sent by registered mail - within
three (3) business days following their deposit for mailing at a post office located in the country of addressee, or seven (7) business
days following their deposit for mailing at a post office located outside the country of addressee, and if hand-delivered - on the day
of delivery (or refusal to receive).

 

19.2. This Plan
(together with the applicable Option Agreement(s) entered into with any Participant) constitutes the entire agreements and
understandings between the Company and such Participant in connection with the grant of Options to Participant. Any representation
and/or promise and/or undertaking made and/or given by the Company or by whosoever on its behalf, which has not been explicitly
expressed herein, shall have no force and effect.

 

* * * * *

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