Document:

Exhibit 10.11

 

FORM OF INDEMNIFICATION AGREEMENT

 

WHEREAS, Indemnitee
is an Office Holder (“Nosse Misra”), as such term is defined in the Israel Companies Law, 5759–1999, as amended
(the “Israeli Companies Law” and “Office Holder” respectively), of Arbe Robotics Ltd. (“Arbe” or
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, as may be amended and restated from time to time (the “Restated Arbe 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 Restated Arbe 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 Restated Arbe 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 ISSURANCE.

 

		1.1.	The Company hereby undertakes to indemnify Indemnitee to the fullest extent permitted by applicable law
and the Restated Arbe 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 favour 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 Israeli 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 Israeli 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.

 

		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 Israeli
Companies Law.

 

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		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 Restated
Arbe 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 proceedings, 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 notified the Company of the commencement thereof and without derogating from Section 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.

 

		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.

 

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		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 Israeli 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 Israeli Companies Law), other than breach of the duty of care towards the Company in a distribution
(as such term is defined in the Israeli 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.

 

Any amendment
to the Israeli 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.

 

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	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.

 

	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.

 

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	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]

 

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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.

 

	ARBE
    ROBOTICS LTD.	 
	 	 
	By:	         	 
	Title:
    	 	 
	Name:  	 	 

 

	INDEMNITEE	 
	 	 
	Name:	         	 
	Signature:  
    	 	 
	Address:	 	 

 

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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 [       ] 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) [       ] (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	 	The Maximum Amount

 

    10 

     

    

 

	 	 	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.	 	 
	 	 	 
	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 

     

    

 

	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
	 	 	 
	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

 

    12 

     

    

 

	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
	 	 	 
	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	 	The Maximum Amount

 

	 	 	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).	 	 
	 	 	 
	 	 	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 10.12

 

ARBE
ROBOTICS LTD.

 

Compensation
Policy for Executive Officers and Directors

 

(As adopted on ___, 2021)

 

A. OVERVIEW AND OBJECTIVES

 

		1.	GENERAL

 

This document
sets forth the compensation policy for Executive Officers and Directors (this “Compensation Policy” or
“Policy”) of Arbe Robotics Ltd. (“Arbe” or the “Company”), in
accordance with the requirements of the Companies Law, 5759-1999 (the “Companies Law”).

 

Compensation
is a key component of Arbe’s overall human capital strategy to attract, retain, reward, and motivate highly skilled individuals
that will enhance Arbe’s value and otherwise assist Arbe to reach its business and financial long-term goals. Accordingly, the structure
of this Policy is established to tie the compensation of officers and directors to Arbe’s goals and performance.

 

For purposes
of this Policy, “Executive Officers” shall mean “Office Holders” as such term is defined in Section 1 of
the Companies Law, excluding, unless otherwise expressly indicated herein, members of the Board of Directors of Arbe (the “Board”).

 

This policy
is subject to applicable law and is not intended and should not be interpreted as limiting or derogating from, provisions of applicable
law to the extent not permitted by such law.

 

This Policy
shall apply to compensation agreements and arrangements which will be approved after the date on which this Policy is adopted and shall
serve as Arbe’s Compensation Policy for five years years, commencing as of its adoption, unless amended earlier. The Compensation
Committee of the Board (the “Compensation Committee”) shall review and reassess the adequacy of this Policy from time
to time, as required by the Companies Law.

 

This Policy
is designed solely for the benefit of Arbe and none of the provisions thereof are intended to provide any rights or remedies to any person
other than Arbe.

 

		2.	OBJECTIVES

 

Arbe’s
objectives and goals in setting this Policy are to attract, motivate and retain highly experienced leaders who will contribute to Arbe’s
success and enhance shareholder value, while demonstrating professionalism in a highly achievement-oriented culture that is based on merit
and rewards excellent performance in the long term, and embedding Arbe’s core values as part of a motivated behaviour. To that end,
this Policy is designed, among others:

  

		2.1.	To closely align the interests of the Executive Officers with those of Arbe’s shareholders in order
to enhance shareholder value;

 

		2.2.	To align a significant portion of the Executive Officers’ compensation with Arbe’s short and
long-term goals and performance;

 

		2.3.	To provide the Executive Officers with a structured compensation package, including competitive salaries,
performance-motivating cash and equity incentive programs and benefits, and to be able to present to each Executive Officer an opportunity
to advance in a growing organization;

 

		2.4.	To strengthen the retention and the motivation of Executive Officers in the long term;

 

     

     

    

 

		2.5.	To provide appropriate awards in order to incentivize superior individual excellency and corporate performance;
and

 

		2.6.	To maintain consistency among Executive Officers in the way Executive Officers are compensated.

 

		3.	COMPENSATION ISTRUMENTS

 

Compensation
instruments under this Policy may include the following:

 

		3.1.	Base Salary;

 

		3.2.	Benefits;

 

		3.3.	Cash Bonuses;

 

		3.4.	Equity Based Compensation;

 

		3.5.	Change of Control terms; and

 

		3.6.	Retirement and Termination Terms. 

 

		4.	OVERALL COMPENSATION – RATIO BETWEEN FIXED AND VARIABLE COMPENSION 

  

		4.1.	This Policy aims to balance the mix of “Fixed Compensation” (comprised of base salary and benefits)
and “Variable Compensation” (comprised of cash bonuses and equity-based compensation) in order to, among other things, appropriately
incentivize Executive Officers to meet Arbe’s short and long-term goals while taking into consideration the Company’s need
to manage a variety of business risks.

 

		4.2.	The value of the total annual bonus and equity-based compensation of each Executive Officer shall not exceed
85% of the value of the total compensation package of such Executive Officer on an annual basis, as determined based on the accounting
principles used by the Arbe for its financial statements or such other method as determined by the Compensation Committee or the Board.

 

		5.	INTER-COMPANY COMPENSATION RATIO

 

		5.1.	In the process of drafting and updating this Policy, Arbe’s Board and Compensation Committee have examined
the ratio between employer cost associated with the engagement of the Executive Officers and directors, and the average and median employer
cost associated with the engagement of Arbe’s other employees (including contractor employees as defined in the Companies Law) (the
“Ratio”).

 

		5.2.	The possible ramifications of the Ratio on the daily working environment in Arbe were examined and will continue
to be examined by Arbe from time to time in order to ensure that levels of executive compensation, as compared to the overall workforce
will not have a negative impact on work relations in Arbe.

 

    - 2 -

     

    

 

B. BASE SALARY AND BENEFITS

 

		6.	BASE SALARY

 

		6.1.	A base salary provides stable compensation to Executive Officers and allows Arbe to attract and retain competent
executive talent and maintain a stable management team. The base salary varies among Executive Officers, and is individually determined
according to the educational background, prior vocational experience, qualifications, role at the company, business responsibilities
and the past performance of each Executive Officer.

 

		6.2.	Since a competitive base salary is essential to Arbe’s ability to attract and retain highly skilled
professionals, Arbe shall seek to establish a base salary that is competitive with the base salaries paid to Executive Officers in similar
companies operating in the same technology sectors, with similar characteristics to Arbe, while considering, among others, such companies’
size and characteristics including (but not limited to) their revenues, profitability rate, number of employees, and operating arena (in
Israel or globally), the list of which shall be reviewed and approved by the Compensation Committee at least every two (2) years. To that
end, Arbe shall utilize as a reference, comparative market data and practices, which will include a compensation survey that compares
and analyses the level of the overall compensation packages offered to an Executive Officers of the Company with compensation packages
in similar positions to that of the relevant officer in such companies. Such compensation survey may be conducted internally or through
an external independent consultant. Information on such compensation survey may be included in the proxy statement published in connection
with the annual general meeting of Arbe’s shareholders.

 

		6.3.	The Compensation Committee and the Board may periodically consider and approve base salary adjustments for
Executive Officers. The main considerations for base salary adjustments are similar to those used in initially determining the base salary,
but may also include change of role or responsibilities, recognition for professional achievements, regulatory or contractual requirements,
budgetary constraints or market trends. The Compensation Committee and the Board will also consider the previous and existing compensation
arrangements of the Executive Officer whose base salary is being considered for adjustment.

 

		7.	BENEFITS

 

		7.1.	The following benefits may be granted to the Executive Officers in order, among other things, to comply with
legal requirements:

 

		7.1.1.	Vacation days in accordance with market practice;

 

		7.1.2.	Sick days in accordance with market practice;

 

		7.1.3.	Convalescence pay according to applicable law;

 

		7.1.4.	Monthly remuneration for a study fund, as allowed by applicable law and in accordance with Arbe’s practice
and in reference to the practice in similar companies;

 

		7.1.5.	Arbe shall contribute on behalf of the Executive Officer to an insurance policy, a pension fund or retirement
fund, as allowed or required by applicable law and with reference to Arbe’s policies and procedures and the practice in similar
companies; and

 

		7.1.6.	Arbe shall contribute on behalf of the Executive Officer towards work disability insurance, as allowed or
required by applicable law and with reference to Arbe’s policies and procedures and to the practice in similar companies.

 

		7.2.	Non-Israeli Executive Officers may receive other similar, comparable, or customary benefits as applicable
in the relevant jurisdiction in which they are employed. Such customary benefits shall be determined based on the methods described in
Section 6.2 of this Policy (with the necessary changes and adjustments).

 

		7.3.	In the event of relocation or repatriation of an Executive Officer to another geography, such Executive Officer
may receive other similar, comparable, or customary benefits as applicable in the relevant jurisdiction in which he or she is employed
or additional payments to reflect adjustments in cost of living. Such benefits shall include reimbursement for out of pocket one-time payments
and other ongoing expenses, such as housing allowance, car allowance, and home leave visit, etc.

 

    - 3 -

     

    

 

		7.4.	Arbe may offer additional benefits to its Executive Officers to the extent such benefits are reasonable and
necessary or comparable to customary market practices, such as, but not limited to: cellular and land line phone benefits, company car
and travel benefits, reimbursement of business travel including a daily stipend when traveling and other business related expenses, insurances,
other benefits (such as newspaper subscriptions, academic and professional studies), etc., provided, however, that such additional
benefits shall be determined in accordance with Arbe’s policies and procedures.

 

C. CASH BONUSES

 

		8.	ANNUAL CASH BONUSES 

 

		8.1.	Compensation in the form of an annual or other periodic cash bonus is an important element in aligning the
Executive Officers’ compensation with Arbe’s objectives and business goals. Therefore, Arbe’s compensation philosophy
reflects a pay-for-performance element, in which bonus pay-out eligibility and levels are determined based on actual financial
and or operational results, as well as individual performance.

 

		8.2.	A cash bonus may be awarded to an Executive Officer upon the attainment of pre-set periodic objectives
and individual targets determined by the Compensation Committee (and, if required by law, by the Board) (i) at the beginning of each calendar
or fiscal year or bonus period, (ii) upon engagement, in case of a newly-hired Executive Officers, or (iii) upon the establishment of
a new bonus program, taking into account Arbe’s short and long-term goals, as well as its compliance and risk management policies.

 

		8.3.	The Compensation Committee and the Board shall also determine applicable minimum thresholds that must be
met for entitlement to a cash bonus (all or any portion thereof) and the formula for calculating any such cash bonus entitlement, with
respect to each calendar year, for each Executive Officer.

 

		8.4.	In special circumstances, as determined by the Compensation Committee and the Board (e.g., regulatory changes,
significant changes in Arbe’s business environment, a significant organizational change, a significant merger and acquisition events,
or other similar events etc.), the Compensation Committee and the Board may modify the objectives and/or their relative weights and the
amount of bonus pay-outs (including decreasing such amounts to zero) during the applicable bonus period.

 

		8.5.	In the event the employment of an Executive Officer is terminated prior to the end of a bonus period, the
Company may (but shall not be obligated to) pay such Executive Officer the full cash bonus for the applicable period (based on achievement
of the bonus targets during such period) or a prorated one, or no bonus at all. Such bonus, if paid, will become due on the same scheduled
date for cash bonus payments by the Company.

 

		8.6.	The actual cash bonus to be awarded to Executive Officers shall be approved by the Compensation Committee
and the Board.

 

		8.7.	The annual cash bonus of Arbe’s Executive Officers will be based on performance objectives, and a discretionary
evaluation of the Executive Officer’s overall performance, and subject to minimum thresholds.

 

		8.8.	The performance objectives and the weight to be assigned to each achievement in the overall evaluation, will
be based on overall company performance measures, which may be based on actual financial and operational results, such as (but not limited
to) revenues, operating income and cash flow and may further include, divisional or personal objectives which may include operational
objectives, such as (but not limited to) market share, initiation of new markets and operational efficiency, customer focused objectives,
project milestones objectives and investment in human capital objectives, such as employee satisfaction, employee retention and employee
training and leadership programs.

 

    - 4 -

     

    

 

		8.9.	The performance objectives will be determined and approved by the Compensation Committee and the Board, following
the recommendation of the chairperson of the Board with respect to the chief executive officer (the “CEO”), and the recommendation
of the CEO with respect to all other Executive Officers, at the commencement of each calendar year (or upon engagement, in case of newly
hired Executive Officers or in special circumstances as determined by the Compensation Committee and the Board) on the basis of, but not
limited to, Company division and individual objectives.

 

		8.10.	These performance measurable objectives, which include the objectives and the weight to be assigned to each
achievement in the overall evaluation, will be categorized as described below:

 

		8.10.1.	Between 70% - 100% will be based on goals set forth in the Company’s annual operating plan
and long-term plan, such as achieving business, financial and/or technological objectives and design wins and achieving strategic technology
objectives.

 

		8.10.2.	The less significant part of the annual cash bonus may be based on a discretionary evaluation, which shall
not exceed more than 30% of the total amount of the annual cash bonus. Such evaluation shall be based on the evaluation of the relevant
Executive Officer’s individual performance, subject only to the approval of the Compensation Committee and of the Board, following
the recommendation of the chairperson of the Board with respect to the CEO and following the recommendation of the CEO with respect to
all other Executive Officers, based on quantitative and qualitative criteria.

 

		8.11.	The maximum annual cash bonus that an Executive Officer, including the CEO, will be entitled to receive for
any given calendar year, will not exceed 100% of such Executive Officer’s annual base salary, and for overachievement performance,
will not exceed 67% of such Executive Officer’s annual base salary.

 

		8.12.	It is hereby clarified that the Company may determine that, with respect to any specific year, all or any
particular officers shall not be entitled to an annual cash bonus.

 

		9.	OTHER BONUSES

 

		9.1.	Special Bonus. Arbe may grant its Executive Officers with a special or ad hoc cash bonus as an award
for special achievements (such as in connection with mergers and acquisitions, offerings, achieving target budget or business plan under
exceptional circumstances or special recognition in case of retirement) or as a retention award at the CEO’s discretion (and in
the CEO’s case, at the Board’s discretion, following the recommendation of the chairperson of the Board), subject to any additional
approval as may be required by the Companies Law (the “Special Bonus”). The Special Bonus will not exceed 50 % of the
Executive Officer’s total compensation package on an annual basis.

 

		9.2.	Signing Bonus. Arbe may grant a newly hired Executive Officer with a signing bonus at the CEO’s
discretion (and in the CEO’s case, at the Board’s discretion, following the recommendation of the chairperson of the Board),
subject to any additional approval as may be required by the Companies Law (the “Signing Bonus”). The Signing Bonus
will not exceed 100 % of the Executive Officer’s annual base salary.

 

		9.3.	Relocation/Repatriation Bonus. Arbe may grant its Executive Officers with a special bonus in the event
of relocation or repatriation of an Executive Officer to another geography (the “Relocation Bonus”). The Relocation
Bonus will include customary benefits associated with such relocation and its monetary value will not exceed 100% of such Executive Officer’s
annual base salary.

 

    - 5 -

     

    

 

		10.	COMPENSATION RECOVERY (“CLAWBACK”)

 

		10.1.	In the event of an accounting restatement, Arbe shall be entitled to recover from its Executive Officers
the bonus compensation or performance-based equity compensation in the amount in which such compensation exceeded what would have been
paid under the financial statements, as restated, provided that a claim is made by Arbe prior to the third anniversary of end of the fiscal
year restated in the financial statements.

 

		10.2.	Notwithstanding the aforesaid, the Clawback will not be triggered in the following events:

 

		10.2.1.	The financial restatement is required due to changes in the applicable financial reporting standards; or

 

		10.2.2.	The Compensation Committee has determined that Clawback proceedings in the specific case would be impossible,
impractical, or not commercially or legally efficient.

 

		10.3.	Nothing in this Section 10 derogates from any other “Clawback” or similar provisions regarding
disgorging of profits imposed on Executive Officers by virtue of applicable laws.

 

D. EQUITY BASED COMPENSATION

 

		11.	GUIDELINES FOR THE GRANT OF AWARDS

 

		11.1.	The equity-based compensation for Arbe’s Executive Officers is designed in a manner consistent with
the underlying objectives in determining the base salary and the annual cash bonus, with its main objectives being to enhance the alignment
between the Executive Officers’ interests with the long-term interests of Arbe and its shareholders, and to strengthen the retention
and the motivation of the Executive Officers in the long term. In addition, since equity-based awards are structured to vest over several
years, their incentive value to recipients is aligned with longer-term strategic plans.

 

		11.2.	The equity-based compensation offered by Arbe is intended to be in the form of share options and/or other
equity-based awards, such as restricted stock unit awards, in accordance with the Company’s equity incentive plans in place as may
be updated from time to time.

 

		11.3.	Equity-based compensation awarded by the Company to employees, Executive Officers or directors shall not
be, in the aggregate, in excess of 20% of the Company’s share capital on a fully diluted basis at the date of the grant.

 

		11.4.	Equity-based compensation granted by Arbe shall not exceed (i)
with respect to an Executive Officer other than the CEO, 250% of his annual base salary, and (ii) with respect to the CEO, 400% of his
annual base salary.

 

		11.5.	Generally, equity-based incentives granted to Executive Officers shall be subject to vesting periods in order
to promote long-term retention of the awarded Executive Officers.

 

		11.6.	Unless otherwise determined in a specific award agreement approved by the Compensation Committee and the
Board, grants to Executive Officers other than non-employee directors shall vest gradually for a period of at least two years.
The exercise price of such options shall be determined in accordance with Arbe’s policies, the main terms of which shall be disclosed
in the annual report of Arbe.

 

		11.7.	The Company may further determine other or additional specific terms and conditions or criteria, whether
for the vesting of all or any part of such awards or for entitlement thereof, and whether generally or with respect to specific grants,
specific officers or otherwise, including that the vesting of the equity-based awards will be subject to the attainment of measurable
performance goals set by the Company.

 

    - 6 -

     

    

 

		11.8.	The Company may approve the accelerated vesting of equity-based awards upon termination of service or employment
and/or upon a change of control, and may provide for continued vesting of, or an extended exercise period for, equity-based awards beyond
those generally applicable pursuant to the relevant plan in such circumstances, provided such extended exercise period does not extend
beyond the original exercise period set forth in the terms of the grant.

 

		11.9.	All other terms of the equity-based compensation awards shall be in accordance with Arbe’s incentive
plans and other related practices and policies. Accordingly, the Board may, following approval by the Compensation Committee, extend the
period of time for which an award shall remain exercisable and make provisions with respect to the acceleration of the vesting period
of any Executive Officer’s awards, including, without limitation, in connection with a corporate transaction involving a change
of control, subject to any additional approval as may be required by the Companies Law.

 

		11.10.	The equity-based compensation shall be granted from time to time and be individually determined and awarded
according to the performance, educational background, prior business experience, qualifications, role, and the personal responsibilities
of the Executive Officer, and such other criteria as determined by the Compensation Committee and the Board.

 

		11.11.	In determining the equity-based compensation granted to each Executive Officer, the Compensation Committee
and Board shall consider the factors specified in Section 13.1 above, and in any event the total fair market value of any annual
equity-based compensation at the time of grant shall not exceed: (i) with respect to the CEO - the higher of (w) 400% of his
or her annual base salary or (x) 0.5% of the Company’s fair market value; and (ii) with respect to each of the other Executive
Officers - the higher of (y) 250% of his or her annual base salary or (z) 0.35% of the Company’s fair market value.

 

		11.12.	The fair market value of the equity-based compensation for the Executive Officers will be determined according
to acceptable valuation practices at the time of grant.

 

E. RETIREMENT AND TERMINATION
ARRANGEMENTS

 

		12.	GENERAL GUIDELINES FOR TERMINATION PAYMENTS

 

		12.1	Termination payments will generally be set forth in Executive Officer’s employment or service agreements
and are intended to comply with applicable laws, and to provide officers with compensation in the event of termination in circumstances
determined by the Company, including voluntary termination.

 

		12.2	When considering termination payments, the Company will generally consider, among other matters, the Executive
Officer’s term of service or employment, his or her remuneration during such term, Company performance during such term and the
contribution of such officer to the achievement of the Company’s goals and maximization of its profits, as well as the circumstances
of termination.

 

		12.3	The total non-statutory payments under Section E herein shall not exceed twenty-four
(24) monthly base salaries of the Executive Officers.

 

		13.	COMPONENTS OF TERMINATION PAYMENTS 

 

		13.1.	Advance Notice Period. Arbe may (but is not obligated to, unless otherwise required by applicable
law) provide an Executive Officer according to his/her seniority in the Company, his/her contribution to the Company’s goals and
achievements, and the circumstances of retirement a prior notice of termination of up to (i) 6 months in the case of an Executive
Officer other than the CEO; and (ii) 12 months in the case of the CEO, during which the Executive Officer may be entitled to all of the
compensation elements, and to the continuation of vesting of his/her options.

 

    - 7 -

     

    

 

		13.2.	Adjustment Period. Arbe may provide an additional adjustment period of up to 6 months to an Executive
Officer, other than the CEO, according to his/her seniority in the Company, his/her contribution to the Company’s goals and achievements,
and the circumstances of retirement.

 

		13.3.	Non-Compete Grant. Upon termination of employment and subject to applicable law, Arbe may grant to
its Executive Officers a non-compete grant as an incentive to refrain from competing with Arbe for a defined period of time.
The terms and conditions of the non-compete grant shall be determined by the Compensation Committee and the Board and shall
not exceed such Executive Officer’s six (6) monthly base salaries.

 

		13.4.	Additional Retirement and Termination Benefits. Arbe may provide
additional retirement and terminations benefits and payments as may be required by applicable law (e.g., mandatory severance pay under
Israeli labor laws), or which will be comparable to customary market practices.

 

F. EXCULPATION, INDEMNIFICATION,
AND INSURANCE

 

		14.	EXCULPATION

  

		14.1.	Arbe may exempt its directors and Executive Officers in advance for all or any of his/her liability for damage
in consequence of a breach of the duty of care vis-a-vis Arbe, to the fullest extent permitted by applicable law.

 

		15.	INSURANCE AND INDEMNIFICATION

 

		15.1.	Arbe may indemnify its directors and Executive Officers to the fullest extent permitted by applicable law,
for any liability and expense that may be imposed on the director or the Executive Officer, as provided in the indemnity agreement between
such individuals and Arbe, all subject to applicable law and the Company’s Articles of Association, as in effect from time to time.

 

		15.2.	Arbe will provide directors’ and officers’ liability insurance (the “Insurance
Policy”) for its directors and Executive Officers as follows:

 

		15.2.1.	The annual premium to be paid by Arbe shall not exceed 25% of the aggregate coverage of the Insurance Policy;

 

The limit of
liability of the insurer shall not exceed the greater of US$25,000,000 or 25% of the Company’s shareholders equity based on the
most recent financial statements of the Company at the time of approval by the Compensation Committee; and

 

		15.2.2.	The Insurance Policy, as well as the limit of liability and the premium for each extension or renewal shall
be approved by the Compensation Committee (and, if required by law, by the Board) which shall determine that the sums are reasonable considering
Arbe’s exposures, the scope of coverage and the market conditions and that the Insurance Policy reflects the current market conditions,
and it shall not materially affect the Company’s profitability, assets or liabilities.

 

		15.3.	Upon circumstances to be approved by the Compensation Committee (and, if required by law, by the Board),
Arbe shall be entitled to enter into a “run off” Insurance Policy of up to seven years, with the same insurer or any other
insurance, as follows:

 

    - 8 -

     

    

 

		15.3.1.	The limit of liability of the insurer shall not exceed the greater of US$25,000,000 or 25% of the Company’s
shareholders equity based on the most recent financial statements of the Company at the time of approval by the Compensation Committee;

 

		15.3.2.	The annual premium shall not exceed 400% of the last paid annual premium; and

 

		15.3.3.	The Insurance Policy, as well as the limit of liability and the premium for each extension or renewal shall
be approved by the Compensation Committee (and, if required by law, by the Board) which shall determine that the sums are reasonable considering
the Company’s exposures covered under such policy, the scope of cover and the market conditions, and that the Insurance Policy reflects
the current market conditions and that it shall not materially affect the Company’s profitability, assets or liabilities.

 

		15.4.	Arbe may extend the Insurance Policy in place to include cover for liability pursuant to a future public
offering of securities as follows:

 

		15.4.1.	The additional premium for such extension of liability coverage shall not exceed 150% of the last paid annual
premium; and

 

		15.4.2.	The Insurance Policy, as well as the additional premium shall be approved by the Compensation Committee (and
if required by law, by the Board) which shall determine that the sums are reasonable considering the exposures pursuant to such public
offering of securities, the scope of cover and the market conditions and that the Insurance Policy reflects the current market conditions,
and it does not materially affect the Company’s profitability, assets, or liabilities.

 

G. ARRANGEMENTS UPON
CHANGE OF CONTROL

 

		16.	The following benefits may be granted to the Executive Officers in addition to the benefits applicable in
the case of any retirement or termination of service upon a “Change of Control” (as such term will be defined from time to
time in the share incentive plans of the Company):

 

		16.1.	Vesting acceleration of outstanding options or other equity-based awards;

 

		16.2.	Extension of the exercising period of options for Arbe’s Executive Officers for a period of up to five years;
and

 

		16.3.	Up to an additional 6 months of continued base salary and benefits following the date of employment
termination (the “Additional Adjustment Period”). For avoidance of doubt, such additional Adjustment Period shall be
in addition to the advance notice and adjustment periods pursuant to Sections 14 and 15 of this Policy, but subject to the limitation
set forth in Section 18 of this Policy;

 

		16.4.	A cash bonus, which shall not exceed 67% of the Executive Officer’s annual base salary in the case
of an Executive Officer other than the CEO, and 100% in case of the CEO.

 

H. BOARD OF DIRECTORS
COMPENSATION

 

		17.	The following benefits may be granted to Arbe’s Board members:

 

		17.1.	All Arbe’s Board members, excluding the chairman of the Board, may be entitled to an annual cash fee
retainer of up to US$100,000, Arbe committee membership annual cash fee retainer of up to US$60,000 and committee chairperson annual cash
fee retainer of up to US$70,000. The chairperson of Arbe’s Board may be entitled to an annual cash fee retainer of up to US$100,000.

 

		17.2.	The compensation of the Company’s external directors, if elected, shall be in accordance with the Companies
Regulations (Rules Regarding the Compensation and Expenses of an External Director), 5760-2000, as amended by the Companies Regulations
(Relief for Public Companies Traded in Stock Exchange Outside of Israel), 5760-2000, as such regulations may be amended from time to time.

 

    - 9 -

     

    

 

		17.3.	Notwithstanding the provisions of Section 17.1 above, in special circumstances, such as in the case of a
professional director, an expert director, or a director who makes a unique contribution to the Company, such director’s compensation
may be different than the compensation of all other directors and may be greater than the maximal amount allowed under Section 17.1.

 

		17.4.	Each member of Arbe’s Board (excluding the chairman of the Board) may be granted an equity-based award
in a value of up to US$200,000 per annum. The equity-based awards shall vest annually over a period of up to 3 years, but not
less than one year.

 

		17.5.	The chairperson of Arbe’s Board may be granted an equity-based award in a value of up to US$250,000
per annum. The equity-based awards shall vest annually over a period of up to 3 years, but not less than one year.

 

		17.6.	Members of Arbe’s Board may be entitled to reimbursement of expenses when traveling abroad on behalf
of Arbe, in accordance with the Company’s policies, in an amount which shall not exceed US$40,000 per each individual trip.

 

		17.7.	It is hereby clarified that the compensation (and limitations) stated under Section H will apply to directors
who serve as Executive Officers.

 

I.
MISCELLANEOUS

 

		18.	Nothing in this Policy shall be deemed to grant any of Arbe’s Executive Officers, directors or employees
or any third party any right or privilege in connection with their employment by or engagement with the Company. Such rights and privileges
shall be governed by the respective personal employment agreements and/or engagement letters and/or grant letters. The Board may determine
that none or only part of the payments, benefits, and perquisites detailed in this Policy shall be granted and is authorized to cancel
or suspend a compensation package or part of it.

 

		19.	An Immaterial Change in the Terms of Employment of an Executive Officer other than the CEO may be approved
by the CEO, provided that the amended terms of employment are in accordance with this Policy. An “Immaterial Change in the Terms
of Employment” means a change in the terms of employment of an Executive Officer with an annual total cost to the Company not
exceeding an amount equal to 2 monthly base salaries of such employee.

 

		20.	In the event that new regulations or a law amendment in connection with Executive Officers or directors compensation
will be enacted following the adoption of this Policy, Arbe may follow such new regulations or law amendment, even if such new regulations
are in contradiction to the compensation terms set forth herein.

 

		21.	The Policy shall be governed by the laws of the State of Israel, excluding
its conflict of law rules, except with respect to matters that are subject to tax or labor laws in any specific jurisdiction, which shall
be governed by the respective laws of such jurisdiction. Certain definitions, which refer to laws other than the laws of such jurisdiction,
shall be construed in accordance with such other laws.

 

		22.	The term of this Policy shall not be limited in time, except that it
will terminate at the earlier of (i) such time that the Policy is no longer in effect under the Companies Law, or (ii) such time that
the Policy is terminated by the Board, to the extent that the Board has the power under the Companies Law to terminate the Policy, or
(iii) such time determination of Terms of Employment of Office Holders is not required to be made pursuant to a Compensation Policy under
the Companies Law, including, without limitation of the foregoing, in the event that the Company ceases to be a Public Company (as defined
in the Companies Law), in which case this Policy shall have no effect with respect to Terms of Employment of Office Holders at such time.

 

		23.	The Policy shall take effect upon its approval in accordance with the
Companies Law.

 

		24.	It is hereby clarified that any amount specified in US dollars may be awarded in an equivalent amount in
any other currency, and the Company may adopt a mechanism for payment updates and currency conversion calculations (which will take into
account fluctuations in exchange rates), as shall be approved by the Compensation Committee.

 

		25.	Applicable value added tax will be added to the any compensation permitted hereunder, in accordance with
applicable law.

 

*********************

 

 

 

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