Document:

EX-10.7

 Exhibit 10.7 

JFROG, INC. 

Confirmatory Employment Letter 
 Jacob
Shulman c/o JFrog, Inc. 
 270 E. Caribbean Dr. 
 Sunnyvale, CA
94089 
 Dear Jacob: 
 This letter agreement
(the “Agreement”) is entered into between JFrog, Inc. (the “Company” or “we”) and you. This Agreement is effective as of the date signed below (the “Effective Date”).
    The purpose of this Agreement is to confirm the current terms and conditions of your employment. 

1.    Position. Your current title is Chief Financial Officer of the Company. This is a full-time position. While
you render services to the Company, you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) without the prior approval of the Company’s Board of
Directors (the “Board”). By signing this Agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company. 

2.    Compensation and Benefits. 

(a)    Base Salary. Your rate of annual base salary as of the Effective Date will be $410,000 per year, less
applicable withholding, which will be paid in accordance with the Company’s normal payroll procedures 

(b)    Annual Bonus Opportunity. Your annual target bonus opportunity following the Effective Date will be sixty
percent (60%) of your annual base salary (the “Target Bonus”). The Target Bonus amount shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be
determined in accordance with the terms and conditions of the Company’s Compensation Policy for Directors and Officers (the “Compensation Policy”) and the individual bonus policy attached hereto as Exhibit A (the
“Bonus Policy”), provided that such Bonus Policy may be adjusted from time to time by the Board in its sole discretion. Bonuses will become earned and payable to you in accordance with terms of the Bonus Policy, provided that in no
event will any bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar
year in which such bonus is earned. You should note that the Company reserves the right to modify salaries and/or incentive compensation opportunities from time to time as it deems necessary, subject to the terms of the Compensation Policy. 

(c)    Employee Benefits. As a full-time employee, you will continue to be eligible to participate in the
Company’s standard benefits as in effect from time to time, on the 

 
same basis as those benefits are generally made available to other similarly situated executives of the Company, and subject to the Company’s policies. Such benefits are subject to change,
and may be supplemented, altered, or eliminated, in part or entirely. Any eligibility to participate in such benefits plans, as well as the terms thereof, shall be as set forth in the governing documents for such plans, or there are no such
governing documents, in the Company’s policies. 
 (d)    Equity Awards. You will be eligible to receive
compensatory equity awards such as stock options or restricted stock unit awards from the Company or its affiliates on the terms and conditions determined by the Board in its sole discretion, subject to the terms of the Compensation Policy and any
applicable Company equity plans. 
 (e)    Expenses. You will be entitled to receive prompt reimbursement for all
reasonable expenses incurred by you in the furtherance of or in connection with the performance of your duties hereunder, in accordance with the applicable policy of the Company, as in effect from time to time. In the event that any expense
reimbursements are taxable to you, such reimbursements will be made in the time frame specified by Treasury Regulation Section 1.409A-3(i)(1)(iv) unless another time frame that complies with or is exempt
from Section 409A is specified in the Company’s expense reimbursement policy. 
 (f)    Vacation. You
will be entitled to accrue paid vacation of twenty (20) business days per year in accordance with the Company’s vacation policy, as in effect from time to time. 

3.    Severance & Change of Control Benefits. In connection with executing this Agreement,
you are also entering into the Change in Control and Severance Agreement between you and the Company (the “Severance Agreement”), which is incorporated herein by reference. 

4.    Proprietary Information and Inventions Agreement. As an employee of the Company, you will continue to have
access to certain confidential information of the Company and you may, during the course of your employment, develop certain information or inventions that will be the property of the Company. To protect the interests of the Company, your acceptance
of this Agreement reaffirms that the terms of the Company’s At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement that you executed on (the “Confidentiality
Agreement”) continue to be in effect. 
 5.    At-Will
Employment. You acknowledge and agree that your employment with the Company will be “at-will” employment and may be terminated at any time with or without cause or notice. You understand and
agree that neither your job performance nor commendations, bonuses, or the like from the Company give rise to or in any way serve as the basis for modification, amendment, or extension, by implication or otherwise, of your employment with the
Company. However, as described in this Agreement, you may be entitled to severance benefits under the Severance Agreement depending on the circumstances of the termination of your employment with the Company. 

6.    Tax Matters. 

(a)    Withholding. All payments made under this Agreement shall be subject to reduction to reflect taxes or other
charges required to be withheld by law, and you will be 

 
solely responsible for any and all taxes arising in connection with this Agreement and compensation paid or payable to you, including but not limited to any taxes, penalties and interest, if any,
arising under Section 409A. 
 (b)    Section 409A. The Company intends that all payments and benefits
provided under this Agreement or otherwise are exempt from, or comply with, the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and any final regulations and guidance thereunder and any applicable state law
equivalent, as each may be amended or promulgated from time to time (“Section 409A”) so that none of the payments or benefits will be subject to the additional tax imposed under
Section 409A, and any ambiguities will be interpreted to so be exempt or comply. Each payment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of
Section 1.409A-2(b)(2) of the Treasury Regulations. 
 (c)    Tax
Advice. You are encouraged to obtain your own tax advice regarding your compensation from the Company. You agree that the Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities. 

7.    Entire Agreement, Amendment and Enforcement. This Agreement, the Severance Agreement and the Confidentiality
Agreement supersede and replace any prior agreements, representations or understandings (whether written, oral, implied or otherwise) between you and the Company, and constitute the complete agreement between you and the Company regarding the
subject matter set forth herein. This Agreement may not be amended or modified, except by an express written agreement signed by both you and a duly authorized officer of the Company. The validity, interpretation, construction and performance of
this Agreement shall be governed by the laws of the State of California without regard to the principles of conflict of laws thereof. To the extent you relocate to Israel, you shall be engaged by JFrog Ltd., the Company’s parent company (the
“Parent”), and such engagement shall be made in accordance with and under the terms of the Parent’s executive form of employment agreement, and the terms covered by this Agreement shall be adjusted thereby, mutatis mutandis,
such that the employer-cost associated therewith shall remain as reflected by this Agreement. 

8.    Miscellaneous. 

(a)    Arbitration. You that any and all controversies, claims, or disputes with anyone (including the Company and
any employee, officer, director, shareholder or benefit plan of the Company in their capacity as such or otherwise) arising out of, relating to, or resulting from your service to the Company, will be subject to arbitration in accordance with the
provisions of the Confidentiality Agreement. 
 (b)    Successors. In addition to any obligations imposed by law
upon any successor to the Company, the Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and
agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. 

 (c)    Validity. The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 

(d)    Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed to be an
original but all of which together will constitute one and the same instrument. 
 (e)    Acknowledgment. You
acknowledge that you have had the opportunity to discuss this Agreement with and obtain advice from your private attorney, have had sufficient time to, and have carefully read and fully understand all the provisions of this Agreement, and are
knowingly and voluntarily entering into this Agreement. 
 * * * * * 

We are extremely excited about your continued employment with the Company! 

Please indicate your acceptance of this Agreement, and confirmation that it contains our complete agreement regarding the terms and conditions
of your employment, by signing the bottom portion of this Agreement and returning a copy to me. 
  

	
	 Very truly yours,

	
	 JFrog, Inc.

	
	 By:
/s/                                        
                            

 I have read and accept this Agreement: 

 

			
		 	 /s/

	         	 	Jacob Shulman
		
		 	Dated:                                    
                                         
             

 EXHIBIT A 

Bonus PolicyEX-10.8

 Exhibit 10.8 
  

					
	 

  
	  	 EMPLOYMENT AGREEMENT

DATED AUGUST    , 2020
	  	

 Dear Yoav, 

Further to our recent discussion on these matters, JFrog Ltd. (the “Company”) has decided to enter into this new and
updated Employment Agreement (including its exhibits) which replaces any and all other agreements, representations and understandings between the parties in respect of your employment with the Company, including that certain prior Employment
Agreement effective as of September 1st, 2020. 
 Just to clarify,
the Company hereby acknowledges and agrees that you have continuously been employed by the Company from January 1st, 2010 (i.e., the original date
of your employment with the Company, referred herein as the “Original Date”) and that nothing in this Agreement shall be interpreted or implemented in a manner that would deprive you from any rights accumulated in your favor during
such continuous employment, and that for the purpose of calculating any rights that are cumulative in nature, whether under any applicable law or under this Agreement, the “Effective Date” of your employment hereunder shall be deemed to be
the Original Date. 
 You shall continue to be employed by the Company in the position of Chief Technology Officer (the
“Position”). In your position you will continue to be reporting to the Chief Executive Officer of the Company. Your designated supervisor may change from time to time in accordance with structural changes within the
Company. 
 You terms will be subject to and governed by the Company’s Compensation Policy for Directors and Officers, as in effect
from time to time (the “Compensation Policy”). Set forth below is a table summarizing the specific terms of your employment with the Company (the “Specific Terms”) as of the Agreement Date. The general terms and
conditions of your employment (the “General Terms”, together with the Specific Terms, and the ancillary forms and exhibits attached hereto constitute your employment agreement with the Company (collectively, the “Employment
Agreement”) with the Company are set forth in the pages following this document. 
 Please review carefully both the
“Specific Terms” and the “General Terms”. Once you fully understand the terms and conditions set forth herein and agreed to all the terms and conditions, you are kindly requested to sign this document and the
ancillary forms attached hereto and return them to the Company. Your execution of this document constitutes your agreement to both the “Specific Terms” and the “General Terms”. 

 

					
			
	1.	  	Employee Personal Details	  	 Full Name: Yoav Landman
 I.D. Number:

Address:
 Telephone Number (cell):

E-mail:

			
	2.	  	Agreement Date:	  	August     , 2020
			
	3.	  	Scope of Work	  	Full Time
			
	4.	  	Total Monthly Salary:	  	NIS 90,000
			
	5.	  	Notice Period (by the Company or the Employee)	  	Per applicable law.
			
	6.	  	Pension Insurance	  	☑ Entitled under Section 14 Arrangement- pursuant to Employee’s choice and in accordance with the General Terms.
			
	7.	  	Keren Hishtalmut (Educational Fund)	  	☑ Entitled- in accordance with Section 3.3 of the General Terms.
			
	8.	  	Vacation Days	  	20 vacation days per year, which shall increase from time to time according to the applicable law.
			
	9.	  	Maximum No. of Accrued Vacation Days	  	limited to 20 days in the aggregate.
			
	10.	  	Sick Leave Days per Year	  	Per Applicable Law.
			
	11.	  	Recreation Pay	  	Per Applicable Law.
			
	12.	  	Travel Expenses	  	NIS 5,500
			
	13.	  	Termination Agreements	  	1. Severance Payment- A lump sum cash payment equal to the difference between (i) (X) six times the Monthly Salary of the month preceding the termination date plus (Y) six months’ of any applicable social and
other benefits provided under this Employment Agreement; and (ii) (A) unless the Employee was required to work during the Notice Period, the value of the Notice Period (whether paid to the Employee as salary during the Notice Period or
redeemed, in accordance with the terms hereof) (plus (B) any amounts accrued in the funds under the Section 14 Arrangement as of the termination date, in accordance with the General
Terms.

 

 
  

					
			
		  		  	2. Change in Control- The difference between (i) (A) 12 times the Monthly Salary of the month preceding the termination date plus (B) the value of twelve months’ payments of all social and other benefits
provided under this Employment Agreement, plus (C) (X) Employee’s target Annual Bonus as in effect for the applicable fiscal year, multiplied by (Y) a ratio where the numerator is the number of full days during the
applicable fiscal year that the Employee was employed by the Company and the denominator is three hundred and sixty five (365), and (ii) (Z) unless the Employee was required to work during the Notice Period, the value of the Notice Period
(whether paid to the Employee as salary or redeemed, in accordance with the terms hereof)plus (AA) any amounts accrued in the funds under the Section 14 Arrangement as of the termination date, in accordance with the General
Terms.

 IN WITNESS WHEREOF, the parties have executed this Employment Agreement as of the Effective Date. 

 

									
	Company:	 		 	Employee:
			
	JFROG LTD.	 		 	YOAV LANDMAN
					
	By:	 	  
	 		 	Print Name:	 	  

	Name:	 	  
	 		 	Signature:	 	  

	Title:	 	  
	 		 		 	

  
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 General Terms and Conditions of Employment with the Company 

1.    Time and Attention 

1.1.    The Employee will be employed pursuant to the scope of Work set forth in the Specific Terms. The
Employee shall devote all necessary time and attention to the business of the Company and shall perform his/her duties diligently and promptly for the benefit of the Company. 

1.2.    The Employee is aware that the employment relationship between the Employee and the Company is based on trust and
the availability to work at irregular and flexible hours. The scope and requirement of the Employee’s position shall require the Employee, from time to time, to work beyond the regular work hours, and also on irregular days. In addition, as
part of the Position the Employee may be required to travel and stay abroad from time to time. The Employee agrees that while the Employee is abroad the Employee shall serve as a senior representative of the Company, a position which requires a
special degree of personal trust, and therefore, in such special circumstances, the provisions of the Working Hours and Rest Law shall not apply to the Employee’s employment under this Employment Agreement. The Employee acknowledges that while
the Employee is abroad, the Employee shall be required to work overtime hours, including during late hours and during weekly hours of rest, and that the Employee shall not be granted any additional compensation with regard to such overtime hours.
The Employee acknowledges that the monetary implications of this provision have been taken into account in his decision to engage in this Employment Agreement 

2.    Remuneration and Benefits 

2.1.    Salary 

2.1.1.    Subject to and in consideration of the Employee’s fulfillment of his/her obligations in pursuance of this
Employment Agreement, the Company shall pay the Employee an aggregate monthly amount salary in the amount as set forth in the Specific Terms (the “Monthly Salary”). The Monthly Salary only shall serve as the
sole basis for calculating pension rights and severance pay contributions, and it is specifically agreed that no other payment or benefit shall be considered as a basis for such calculation. The Monthly Salary shall be payable until the 9th of each month, for the previous month. 
 2.1.2.    An amount equal
to 10% of the Monthly Salary shall be considered as special compensation paid for the Employee’s obligations set forth in Exhibit A attached hereto (Confidentiality, Non-Compete, Proprietary
and Inventions Assignment Agreement), including without limitation in connection the assignment of inventions to the Company, and the non-compete undertakings (the “Special Compensation”).

 2.1.3.    Israeli income tax and other applicable withholding taxes with respect to the Monthly Salary and any other
benefits (as applicable) shall be deducted from the Monthly Salary and any other benefits (as applicable) by the Company at source. 

2.2.    Pension Insurance and Severance. 

2.2.1.    Pension. The Company shall insure the Employee under a pension arrangement at the Employee’s
choice (Managers Insurance, pension fund or a combination of both). The Company shall contribute, on a monthly basis, the amounts set forth below (the “Company Contributions”) and the Employee shall contribute, on a monthly basis,
the amounts set forth below (the “Employee Contributions”), which amounts shall be deducted from the Salary 

2.2.1.1.    Company Contributions: 

(i)    If for pension fund: severance - 8.33% of the Salary; pension - 6.5% of the Salary. 

(ii)    If for managers insurance: severance - 8.33% of the Salary; disability insurance - up to 2.5% of the
Salary (for insurance of 75% of the Salary); pension - the difference between 6.5% of the Salary and the actual percentage contributed for disability insurance, provided that the contributions for pension shall not be less than 5% of the Salary or
more than 7.5% of the Salary. 
 2.2.1.2.    Employee Contributions: 6% of the Salary towards pension. 

2.2.2.    Section 14 Arrangement. The parties hereby adopt the provisions of the General Approval Regarding
Payments by Employers to a Pension Fund and Managers insurance in lieu of Severance Pay, as attached to this Employment Agreement as Exhibit B (the “General Approval”). The Company waives any right that it may have for
the repayment of any monies paid by it to the insurance and/or the pension fund, unless the right of the Employee to severance has been revoked by a judicial decision, under Section 16 or 17 of the Severance Pay Law (to the extent of such
revocation) or in case the Employee withdrew monies from the insurance and/or the pension fund for any reason other than death, disability or retirement at the age of sixty or thereafter. The Employee hereby acknowledges and confirms that the
Company’s contributions towards the insurance and/or the pension fund are and shall be in lieu of any severance pay to which the Employee shall be entitled according to Section 14 of the Severance Pay Law, and in accordance with the
General Approval (the “Section 14 Arrangement”). 

  
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 2.3.    Study Fund (Keren
Hishtalmut). 
 2.3.1.    The Company shall contribute an aggregate monthly amount equal to
7.5% of the Monthly Salary for contributions towards a recognized advanced study fund as shall be selected by the Employee (Keren Hishtalmut) (the “Advanced Study Fund”). The Employee shall contribute, and for that purpose,
the Employee hereby irrevocably authorizes and instructs Company to deduct from his/her Monthly Salary at source, an aggregate monthly amount equal to 2.5% of the Monthly Salary for contributions as Employee’s participation in such Advanced
Study Fund. 
 2.3.2.    To the extent Monthly Salary exceeds the recognized ceiling for withholdings that are exempted
from taxes under the provisions of applicable law in effect from time to time (the “Advanced Study Fund Ceiling”), the foregoing contributions by the Company and by the Employee as set forth in Sections 3.3.1 and 3.3.2
above shall be calculated on the basis of the Advanced Study Fund Ceiling only. 
 2.3.3.    The Employee shall be
responsible for any tax imposed in connection with contributions to the Advanced Study Fund, if any. 
 2.3.4.    Upon
the termination of the Employee’s employment, the Company shall release to the Employee the amounts then accumulated in such fund, except that in the event of termination for Cause (as defined below), those portions of such fund constituting
the Company’s contributions, shall not be released to the Employee. 
 2.4    .Vacation; Sick
Leave; Recreation Pay 
 2.4.1.    The Employee shall be entitled to paid vacation days during each
year of his/her employment as set forth in the Specific Terms. Each such leave shall be coordinated with the supervisor with reasonable consideration to the needs of the Company. The Employee shall be obliged to take at least five
(5) paid vacation days during each year of the Employee’s employment, as prescribed by law. The Employee will make every effort to exercise his annual vacation; provided however, if the Employee is unable to utilize all the vacation days
by the end of a calendar year, he/she shall be entitled to accumulate the unused balance of the vacation days standing to his or her credit up to the Maximum Amount set forth in the Specific Terms. For the avoidance of doubt, any
unused vacation days in excess of the Maximum Amount are canceled and are not redeemable in any event. 
 2.4.2.    The
Employee shall be entitled to sick leave in accordance with the provisions of the Sick Pay Law of 1976. 
 2.4.3.    The
Employee shall be entitled to recreation pay (Dmey Havra’a) per year in accordance with the Israeli applicable law and regulations with respect to such pay. 

2.5.    Travel Expenses. The Employee shall be entitled to a monthly sum as travel expenses as set forth in
the Specific Terms, in accordance with applicable law. For the avoidance of doubt, such Travel Expenses shall not be deemed part of Employee’s Monthly Salary for the purpose of calculating any social entitlements or
rights.. 
 2.6.    Termination Agreements 

2.6.1.    Severance. To the extent this Employment Agreement is terminated by the Company not for Cause,
Employee shall be entitled to a lump sum in the amount set forth in the Specific Terms. 

2.6.2.    Change in Control. To the extent this Employment Agreement is terminated by the Company not for
Cause or by Employee for Good Reason during the three (3) months period prior to, or twelve (12) months following, a Change in Control Event, Employee shall be entitled to a certain lump sum and other benefits, as set forth in the
Specific Terms. 
 2.6.3.    Definitions 

2.6.3.1.    “Cause” shall mean the occurrence of any of the following: (i) the Employee’s
willful breach of any obligations the Confidentiality, Non-Compete, Proprietary and Inventions Assignment Agreement; (ii) the Employee’s willful misconduct that is materially injurious to any member
of the Company Group; (iii) the Employee’s conviction of, or plea of nolo contendere to, a crime that constitutes a felony under applicable law or involving fraud, embezzlement or any other act of moral turpitude; provided
that, with respect to clause (i) of this Section 3.6.3.1, if such conduct is susceptible to cure (as determined by the Company’s Board of Directors in good faith), the Employee shall have failed to cure such
Cause to the Company’s reasonable satisfaction within thirty (30) days of receipt of a written notice setting forth in reasonable detail the nature of such Cause. In the event that the conduct constituting Cause with respect to clause
(i) of this Section 3.6.3.1 is not subject to cure in the good faith determination of the Board, then the right to cure and applicable notice period will not apply 

2.6.3.2.    “Change in Board Event” means any time at which individuals who, as of the Agreement Date,
constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Company’s Board of Directors; provided, however, that any individual becoming a director subsequent to the Agreement
Date whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the
Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or
threatened solicitation of proxies or consents by or on behalf of a person other than the Company’s Board of Directors. 

  
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 2.6.3.3.    “Change in Control” shall mean the
occurrence of any of the events: (i) a sale of all or substantially all of the assets of the Company, or a sale (including an exchange) of all or substantially all of the shares of the Company, to any person, or a purchase by a shareholder of
the Company or by an affiliate of such shareholder, of all the shares of the Company held by all or substantially all other shareholders or by other shareholders who are not affiliated with such acquiring party; (ii) a merger (including, a
reverse merger and a reverse triangular merger), consolidation, amalgamation or like transaction of the Company with or into another corporation; (iii) a scheme of arrangement for the purpose of effecting such sale, merger, consolidation,
amalgamation or other transaction; or (iv) a Change in Board Event. Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control event within the meaning of
Section 409A of the Internal Revenue Code of 1986, as amended. Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (i) its sole purpose is to change the jurisdiction of the Company’s
incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction. 

2.6.3.4.    “Company Group” means the Company and any subsidiaries of the Company. 

2.6.3.5.    “Good Reason” shall mean the termination of the Employee’s employment with the Company
Group by the Employee in accordance with the next sentence after the occurrence of one or more of the following events without the Employee’s express written consent: (i) a material reduction of the Employee’s title, duties,
authorities, or responsibilities relative to the Employee’s duties, authorities, or responsibilities in effect immediately prior to the reduction;(ii) a reduction by a Company Group member in the Employee’s rate of annual base salary by
more than ten percent (10%); provided, however, that, a reduction of annual base salary that also applies to substantially all other similarly situated employees of the Company Group members by up to 10% will not constitute “Good Reason”;
(iii) a material change in the geographic location of the Employee’s primary work facility or location by more than thirty-five (35) miles from the Employee’s then present location; provided, that a relocation to a location that is
within thirty-five (35) miles from the Employee’s then-present primary residence will not be considered a material change in geographic location, or (iv) failure of a successor corporation to assume the obligations under this
Agreement. In order for the termination of the Employee’s employment with a Company Group member to be for Good Reason, the Employee must not terminate employment without first providing written notice to the Company of the acts or omissions
constituting the grounds for “Good Reason” within ninety (90) days of the initial existence of the grounds for “Good Reason” and a cure period of thirty (30) days following the date of written notice (the “Cure
Period”), the grounds must not have been cured during that time, and the Employee must terminate the Employee’s employment within thirty (30) days following the Cure Period.. 

2.7.    Annual Bonus. Employee will be eligible to earn an annual cash bonus, based upon the achievement of
certain targets and goals to be established annually by the Company, equal to the percentage of Employee’s aggregate Monthly Salary earned during such year and to be paid as set forth in Exhibit C attached hereto (the
“Bonus”). The Bonus amount shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. The bonus shall be determined in accordance with and subject to the terms and conditions of
the Compensation Policy and the individual bonus policy attached hereto as Exhibit C (the “Bonus Policy”), provided that such Bonus Policy may be adjusted from time to time by the Board in its sole discretion. Bonuses will become
earned and payable to you in accordance with terms of the Bonus Policy, provided that in no event will any bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s
fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned. Nothing in this clause shall be construed as Company’s commitment to Employee to grant any bonus payments at any
time, other than as explicitly set forth herein. Any bonus grant shall not form any commitment to Employee of any kind. Moreover, Employee waives any claim to custom regarding the bonus. For the avoidance of any doubt, any bonus granted pursuant to
this clause will not form part of Employee’s social benefits and will not be taken into account for the purpose of calculating the allocations to the pension insurance, Employee’s social rights and other benefits of any kind, as
applicable. 
  

	3.    Term	 and Termination 

3.1.    Termination Not For Cause. Either party may terminate this Employment Agreement and the employment
relationship without Cause (as defined below) by providing a prior written notice as set forth in the Specific Terms (the “Notice Period”). During the Notice Period, whether notice has been given by the
Employee or by the Company, the Employee shall continue to render his/her services to the Company unless instructed otherwise by the Company, and shall cooperate with the Company and use his/her best efforts to assist the integration into the
Company organization of the person or persons who will assume the Employee’s responsibilities and duties. 

3.1.1.    Waiver of Actual Work. Nonetheless, the Company shall be entitled, at any time prior to the
expiration of the Notice Period: (i) to waive the Employee’s actual work during the Notice Period, in which event the Company shall pay to the Employee during the remainder of the Notice Period the payments payable to the Employee under
Section 3 above and as set forth in the Specific Terms; or (ii) to immediately terminate this Employment Agreement 

  
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and the employment relationship, at any time prior to the expiration of the Notice Period, in which event the Company shall pay the Employee upon termination of the Employment Agreement and the
employment relationship the value of the Monthly Salary during the remainder of the Notice Period. 

3.2.    Termination for Cause. The Company may immediately terminate this Employment Agreement and the
employment relationship at any time for Cause without Notice Period or any compensation in lieu of Notice Period and/or severance pay (subject to applicable law). 

4.    Confidentiality, Non-Compete, Proprietary and Inventions Assignment  

4.1.    The Employee shall, simultaneously herewith, execute the Confidentiality,
Non-Compete, Proprietary and Inventions Assignment Agreement, attached hereto as Exhibit A. For the removal of any doubt, execution of such agreement by the Employee - is a condition precedent to
this Agreement becoming effective. 
 4.2.    The Employee shall keep the contents of this Employment Agreement
confidential and not to disclose the contents of this Employment Agreement to any third party without the prior written consent of the Company. 

5.    Employee Representations and Warranties 

5.1.    The Employee represents and warrants to the Company that: (i) the execution and delivery of this Employment
Agreement and the fulfillment of the terms hereof: (a) will not constitute a default under or breach of any agreement or other instrument to which he/she is a party or by which he is bound, including without limitation, any confidentiality or non-competition agreement; (b) do not require the consent of any person or entity; (ii) no provision of any agreement or other document the Employee is a party to or is bound to as a result of his/her
prior or current engagement with third parties, or to his/her knowledge, any law, or regulation, prohibits him from entering into this Employment Agreement; and (iii) shall not utilize during the term of his/her employment any proprietary
information of any third party, including prior employers of the Employee. Employee acknowledges that the Company is relying on the Employee’s representations under this section upon entering into this Employment Agreement and any
misrepresentation under this section by Employee shall constitute a material breach of this Employment Agreement. 

5.2.    The Employee shall at all times comply with the Company’s policies, procedures and objectives, as in effect
from time to time, and shall adhere to any applicable law or provision pertaining to his/her employment. 
 5.3.    The
Employee shall immediately and without delay inform the Company of any affairs and/or matters that might constitute a conflict of interest with the Employee’s Position and/or employment with Company and/or the interests of the Company. 

5.4.    The Employee acknowledges and agrees that personal information related to him/her and the Employee’s terms of
employment at the Company, as shall be received and held by the Company will be held and managed by the Company, and that the Company shall be entitled to transfer such information to third parties, in Israel or abroad. The information will be
collected, retained, used, and transferred for legitimate business purposes and to the reasonable and necessary scope only for the following purposes: human resources management, business management and customer relations, assessment of potential
transactions and relating to such transactions, compliance with law and other requests and requirements from government authorities and audit, compliance checks and internal investigations. 

 

	6.    Company	 Computers; Mobile Phone; Privacy 

6.1.    For the performance of the Employee’s duties, the Company may allow the Employee to use the Company’s
computer equipment and systems, including any desktop computer, laptop, software, hardware, Internet server and professional e-mail account (the “Computers”). The Employee acknowledges and
agrees that the Company may allow others to use the Computers. 
 6.2.    Subject to the Company’s policies as may
be in effect from time to time, the Employee: (i) shall not store personal files on the Computers (except on folders clearly labeled by the Employee as “Personal”); and (ii) the Employee may not store the Company’s
files on personal or external storage space. 
 6.3.    The e-mail account
assigned to the Employee is strictly a professional one and shall be strictly used for professional matters. For personal matters the Employee may use external email services (such as Gmail). 

6.4.    The Employee acknowledges and agrees that in order to maintain the security of the Computers and to protect the
Company’s legitimate interests, the Company shall have the right to monitor, inspect and review the Employee’s activity on the Computers, including usage habits and content transmission, and to collect, copy, transfer and review content
stored on the Computers, including, emails, electronic communications, documents and other files, all findings of which shall be admissible as evidence in any legal proceedings. In light of the Employee’s understanding of the above, the
Employee shall have no right to privacy in any content of the Computers, except with respect to folders which contain private information and which are clearly labeled by the Employee as “Personal”. 

6.5.    Sections 7.2-7.4 above shall apply also with respect to mobile
phone provided to the Employee by the Company (if provided) and the Employee’s personal mobile phone when used for the purpose of fulfilling the Employee’s work, with respect to unique professional apps, professional WhatsApp groups or
other professional media or massaging groups and the Employee’s professional e-mail account. 

  
 6 

 

 
  

 6.6.    The Employee acknowledges and agrees that during the course of
the Employee’s employment by the Company, the Company shall collect, receive and make use of certain personal information related to the Employee (such as Employee’s contact details, family status, salary, bank account-related information,
etc.) (the “Information”). Collecting, receiving, using and processing the Information shall be at the minimum extent required to manage the Company’s employees or to meet the Company’s legal obligations. The Company shall
be entitled to transfer the Information to third parties, including those located abroad, for the aforesaid purposes or in the course of a potential transaction (such as acquisition, merger or sale of asset). 

6.7.    The Employee acknowledges that the Company’s facilities are covered by security cameras, the locations of
which have been identified to the Employee. The location of the cameras may change from time to time. The use of cameras in the Company’s facilities is for security purpose and such cameras shall not be used for monitoring personal workspaces
(except in cases permitted by law) 
 7.    Miscellaneous. (i) This Employment Agreement constitutes the
entire understanding and agreement between the parties hereto, supersedes any and all prior discussions, agreements and correspondence with regard to the subject matter hereof, and may not be amended, modified or supplemented in any respect, except
by a subsequent written document executed by both parties hereto; (ii) the Company may assign or transfer this Employment Agreement or any right, claim or obligation provided herein, provided however that none of the Employee’s rights
under this Agreement are thereby diminished. The obligations of the Employee hereunder shall not be assignable or delegable; (iii) all notices, requests and other communications to any party hereunder shall be given or made in writing and
faxed, emailed, mailed (by registered or certified mail) or delivered by hand to the respective party at the address set forth in the caption of this Employment Agreement, the Specific Terms or to such other address (or fax number or email address)
as such party may hereafter specify for the purpose of notice to the other party hereto. Each such notice, request or other communication shall be effective (a) if given by fax or email, one (1) business day after such fax is transmitted
to the fax number or email address specified herein with confirmation of transmission, (b) if given by mail, four days following deposit in the mail, or (c) if hand delivered, upon delivery; (iv) this Employment Agreement shall be
governed by, and construed and enforced in accordance with, the laws of Israel without giving effect to principles of conflicts of law thereof. The parties submit to the exclusive jurisdiction of the competent courts of Tel-Aviv Israel in any dispute related to this Employment Agreement; (v) the parties hereby confirm that this is a personal services contract and that the relationship between the parties hereto shall not be
subject to any general or special collective employment agreement or any custom or practice of the Company in respect of any of its other employees or contractors; and (vi) this Employment Agreement includes the terms to be contained in, and
constitutes, the written notice to be delivered to the Employee pursuant to the Notice to Employee and Candidate (Employment Terms and Acceptance to Work), 2002. 

* * * * * * * * 

  
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