Document:

Exhibit

Non-Employee Director

Exhibit 10.47

CLEAN DIESEL TECHNOLOGIES, INC.

NON-QUALIFIED STOCK OPTION AGREEMENT

Non-Employee Director

Clean Diesel Technologies, Inc.
2016 OMNIBUS Incentive Plan
Notice Of NON-QUALIFIED STOCK OPTION Grant
You have been granted the following Non-Qualified Stock Options (“Options”) to purchase common stock, par value $0.01 per share (“Common Stock”) of Clean Diesel Technologies, Inc. (the “Company”):
Name of Optionee:                
Total Number of Shares Granted:                
		
	Exercise Price Per Share:
	$            

Grant Date:                
Vesting Commencement Date:                
Vesting Schedule:                
Expiration Date:                
By your signature and the signature of the Company’s representative below, you and the Company agree that the Options are granted under and governed by the terms and conditions of the Clean Diesel Technologies, Inc. 2016 Omnibus Incentive Plan (a copy of which has been provided to you) and the Non-Qualified Stock Option Agreement, which is attached hereto, both of which are made a part of this document.
	
		
	Optionee:
	Clean Diesel Technologies, Inc.

	

By:________________________________

Name:_____________________________
	

By:________________________________

Its:_____________________________

Non-Employee Director

CLEAN DIESEL TECHNOLOGIES, INC.
2016 OMNIBUS INCENTIVE PLAN
Non-Qualified Stock Option Agreement
1.Terms. Unless provided otherwise in the Notice of Non-Qualified Stock Option Grant (“Notice of Grant”), the following standard terms and conditions (“Standard Terms”) apply to non-qualified stock options (“Options”) granted to you under the Clean Diesel Technologies, Inc. 2016 Omnibus Incentive Plan (the “2016 Plan”). Your Notice of Grant, these Standard Terms and the 2016 Plan constitute the entire understanding between you and the Company. Capitalized and other terms used herein without definition shall have the meanings ascribed thereto in the 2016 Plan.

2.Non-Qualified Stock Options. The Options are not intended to be incentive stock options under Section 422 of the Code and will be interpreted accordingly.

3.Price. The exercise price of the Options (the “option price”) is 100% of the market value of Common Stock on the date of grant, as specified in the Notice of Grant.

4.Term and Exercise.

(a)To the extent the Options have become exercisable (vested) during the periods indicated in the Notice of Grant and have not been previously exercised, and subject to termination or acceleration as provided in these Standard Terms and the requirements of these Standard Terms, the Notice of Grant and the 2016 Plan, you may exercise the Options to purchase up to the number of shares of Common Stock set forth in the Notice of Grant by delivering a written notice in the form of Exhibit A attached hereto (“Notice of Exercise”) to the Company in the manner specified pursuant to Section 15(i) hereof. Such Notice of Exercise shall specify the election to exercise Options, the number of shares of Common Stock for which they are being exercised and the form of payment, which must comply with Section 4(b). The Notice of Exercise shall be signed by the person who is entitled to exercise Options. In the event that Options are to be exercised by the Optionee’s representative, the Notice of Exercise shall be accompanied by proof (satisfactory to the Company) of the representative’s right to exercise Options. Options shall be deemed exercised with respect to the number of shares of Common Stock subject to a proper Notice of Exercise upon receipt by the Company of the duly executed Notice of Exercise and payment of the option price of such shares of Common Stock in accordance with Section 4(b). Notwithstanding anything to the contrary in Section 6 or Sections 8 through 10 hereof, no part of the Options may be exercised after the Expiration Date set forth in the Notice of Grant.

(b)The process for exercising the Options (or any part thereof) is governed by these Standard Terms, the Notice of Grant and the 2016 Plan. Exercises of Options will be processed as soon as practicable. The option price may be paid:
(i)in cash;
(ii)through payment under a broker-assisted sale and remittance program acceptable to the Committee;
(iii)through net issue exercise based on the following formula:

Non-Employee Director

Net Number =    (A x B) - (A x C)
B
For purposes of the foregoing formula:
		
	A =
	the total number of shares with respect to which the Options are then being exercised.

		
	B =
	the market value of Common Stock on the date immediately preceding the date of the Notice of Exercise.

		
	C =
	the option price then in effect at the time of such exercise.

(iv)by delivery of any other lawful consideration approved in advance by the Committee; or
(v)in any combination of the foregoing.

Options may not be exercised for fractional shares. Shares of Common Stock will be issued as soon as practicable (subject to Section 4(c) below). You will have the rights of a stockholder only after the shares of Common Stock have been issued. For administrative or other reasons, the Company may from time to time suspend the ability of employees to exercise options for limited periods of time.
(c)Notwithstanding the foregoing, (i) the Company shall not be obligated to deliver any shares of Common Stock during any period when the Committee determines that the exercisability of the Options or the delivery of shares hereunder would violate any federal, state or other applicable laws and/or may issue shares subject to any restrictive legends that, as determined by the Company’s counsel, is necessary to comply with securities or other regulatory requirements, and (ii) the date on which shares are issued may include a delay in order to provide the Company such time as it determines appropriate to address tax withholding and other administrative matters.

(d)The number of shares of Common Stock for which Options may be exercised as specified in the Notice of Grant shall be adjusted for stock splits and similar matters as specified in and pursuant to the 2016 Plan.

(e)IF AN EXPIRATION DATE DESCRIBED HEREIN FALLS ON A WEEKDAY, YOU MUST EXERCISE YOUR OPTIONS BEFORE 12:00 P.M. LOS ANGELES TIME ON THE EXPIRATION DATE.

(f)IF AN EXPIRATION DATE DESCRIBED HEREIN FALLS ON A WEEKEND OR ANY OTHER DAY ON WHICH THE NASDAQ STOCK MARKET (“NASDAQ”) IS NOT OPEN, YOU MUST EXERCISE YOUR OPTIONS BEFORE 12:00 P.M. LOS ANGELES TIME ON THE LAST NASDAQ BUSINESS DAY PRIOR TO THE EXPIRATION DATE.

5.Change in Control.  In the event that your Service (as defined below) is terminated for any reason upon the occurrence of a Change in Control or within three (3) months thereafter (a “Termination Event”), all of the unvested Options will vest immediately prior to the effective date of such Termination Event and the Options shall become fully exercisable.

6.Leaves of Absence. For any purpose under these Standard Terms, your Service shall be deemed to continue while you are on a bona fide leave of absence, to the extent required by applicable law. To the extent 

Non-Employee Director

applicable law does not require such a leave to be deemed to continue your Service such Service shall be deemed to continue if, and only if, expressly provided in writing by the Committee or an executive officer of the Company or Subsidiary for whom you provide Service.

7.Suspension or Termination of Options for Misconduct. If at any time (including after a Notice of Exercise has been delivered) the Committee reasonably believes that you have committed an act of misconduct as described in this Section 7, the Committee may suspend the vesting of and your right to exercise your Options pending a determination of whether an act of misconduct has been committed. If the Committee determines that you have committed an act of embezzlement, fraud, dishonesty, nonpayment of any obligation owed to the Company, breach of fiduciary duty or deliberate disregard of Company rules resulting in loss, damage or injury to the Company, or if you make an unauthorized disclosure of any Company trade secret or confidential information, engage in any conduct constituting unfair competition, induce any customer to breach a contract with the Company or induce any principal for whom the Company acts as agent to terminate such agency relationship, all Options not exercised as of the date the Committee was notified that you may have committed an act of misconduct shall be cancelled and neither you nor any beneficiary shall be entitled to any claim with respect to the Options whatsoever. Any determination by the Committee with respect to the foregoing shall be final, conclusive, and binding on all interested parties.

8.Termination of Service.

(a)Except as expressly provided otherwise in these Standard Terms, if your Service terminates for any reason, whether voluntarily or involuntarily, other than on account of death, Disablement (defined below) or discharge for misconduct, you may exercise any portion of the Options that had vested on or prior to the date of termination at any time prior to three (3) months after the date of such termination. The Options shall terminate on the expiration of the three (3)-month period to the extent that they are unexercised. All unvested Options shall be cancelled on the date of Service termination, regardless of whether such Service termination is voluntary or involuntary.

(b)For purposes of this Section 8, your Service is not deemed terminated if, prior to sixty (60) days after the date of termination of your Service, you are re-engaged by the Company or a Subsidiary on a basis that would make you eligible for future stock option grants, nor would your transfer from the Company to any Subsidiary or from any one Subsidiary to another, or from a Subsidiary to the Company be deemed a termination of your Service. Further, your provision of service as an employee, director or consultant to any partnership, joint venture or corporation not meeting the requirements of a Subsidiary in which the Company or a Subsidiary is a party shall be considered Service for purposes of this provision if either (a) the entity is designated by the Committee as a Subsidiary for purposes of this provision or (b) you are specifically designated as providing Service for purposes of this provision.

9.Death.  Except as expressly provided otherwise in these Standard Terms, if you die while you are a Service provider, your Options will become one hundred percent (100%) vested, and the executor of your will, administrator of your estate or any successor trustee of a grantor trust may exercise the Options, to the extent not previously exercised, at any time prior to one (1) year from the date of death.  The Options shall terminate on the applicable expiration date described in this Section 9, to the extent that they are unexercised.

10.Disability.

(a)Except as expressly provided otherwise in these Standard Terms, if your Service terminates as a result of Disablement, your Options will become one hundred percent (100%) vested upon the later of 

Non-Employee Director

the date of termination of your Service due to your Disablement or the date of determination of your Disablement.

(b)The Options shall terminate one (1) year from the date of determination of Disablement, to the extent that they are unexercised.

(c)For purposes of these Standard Terms, “Disablement” means your inability to perform the essential duties, responsibilities and functions of your position with the Company or a Subsidiary for a continuous period of one hundred eighty (180) days as a result of any mental or physical disability or incapacity, as determined under the definition of disability in the Company’s long-term disability plan so as to qualify you for benefits under the terms of that plan or as determined by the Committee to the extent that no such plan is then in effect. You shall cooperate in all respects with the Company if a question arises as to whether you have become disabled (including, without limitation, submitting to an examination by a medical doctor or other health care specialist selected by the Company and authorizing such medical doctor or such other health care specialist to discuss your condition with the Company).

11.Tax Withholding.

(a)To the extent required by applicable federal, state or other law, you shall make arrangements satisfactory to the Company for the satisfaction of any withholding tax obligations that arise by reason of an Option exercise and, if applicable, any sale of shares of Common Stock. The Company shall not be required to issue or lift any restrictions on shares of Common Stock or to recognize any purported transfer of shares of Common Stock until such obligations are satisfied. The Committee may permit these obligations to be satisfied by having the Company withhold a portion of the shares of Common Stock that otherwise would be issued to you upon exercise of the Options, or to the extent permitted by the Committee, by tendering shares of Common Stock previously acquired.

(b)You are ultimately liable and responsible for all taxes owed by you in connection with your Options, regardless of any action the Committee or the Company takes or any transaction pursuant to this Section 11 with respect to any tax withholding obligations that arise in connection with your Options. The Company makes no representation or undertaking regarding the treatment of any tax withholding in connection with the grant, issuance, vesting or settlement of your Options or the subsequent sale of any of the shares of Common Stock underlying your Options that vest. The Company does not commit and is under no obligation to administer the 2016 Plan in a manner that reduces or eliminates your tax liability.

12.Transferability; Rights as a Stockholder.

(a)Unless otherwise provided by the Committee, each Option shall be transferable only:
(i)pursuant to your will or upon your death to your beneficiaries;
(ii)by gift to your Immediate Family (defined below), corporations whose only shareholders are you or members of your Immediate Family, partnerships whose only partners are you or members of your Immediate Family, limited liability companies whose only members are you or members of your Immediate Family, or trusts established solely for the benefit of you or members of your Immediate Family;
(iii)by gift to a foundation in which you and/or members of your Immediate Family control the management of the foundation’s assets; or
(iv)for charitable donations;
provided that such permitted assignee shall be bound by and subject to all of the terms and conditions of the Notice of Grant, these Standard Terms and the 2016 Plan relating to the transferred Options and shall execute 

Non-Employee Director

an agreement satisfactory to the Company evidencing such obligations; and provided further that you shall remain bound by the terms and conditions of the Notice of Grant, these Standard Terms and the 2016 Plan.
(b)For purposes of these Standard Terms, “Immediate Family” is defined as your spouse or domestic partner, children, grandchildren (including any adopted and step children or grandchildren), parents, grandparents or siblings. With respect to transfers by gift under Section 12(a)(ii), Options are transferable whether vested or not at the time of transfer. With respect to transfers by gift under Sections 12(a)(iii) or (iv), Options are transferable only to the extent the Options are vested at the time of transfer. Any purported assignment, transfer or encumbrance that does not qualify under Section 12(a) shall be void and unenforceable against the Company. Any Option transferred by you pursuant to Section 12(a) shall not be transferable by the recipient except by will or the laws of descent and distribution. The transferability of Options is subject to any applicable laws of your country of residence or employment.

(c)You will have the rights of a stockholder only after shares of Common Stock have been issued to you following exercise of your Options and satisfaction of all other conditions to the issuance of those shares as set forth in these Standard Terms. Options shall not entitle you to any rights of a stockholder of Common Stock and there are no voting or dividend rights with respect to your Options. Options shall remain terminable pursuant to these Standard Terms at all times until they vest and are exercised for shares. As a condition to having the right to receive shares of Common Stock pursuant to the exercise of your Options, you acknowledge that unvested Options shall have no value for purposes of any aspect of your Service relationship with the Company.

13.Disputes. Any question concerning the interpretation of these Standard Terms, your Notice of Grant, the Options or the 2016 Plan, any adjustments required to be made thereunder, and any controversy that may arise under the Standard Terms, your Notice of Grant, the Options or the 2016 Plan shall be determined by the Committee (including any person(s) to whom the Committee has delegated its authority) in its sole and absolute discretion. Such decision by the Committee shall be final and binding unless determined pursuant to Section 15(g) to have been arbitrary and capricious.

14.Amendments. The 2016 Plan and the Options may be amended or altered by the Committee to the extent provided in the 2016 Plan.

15.Other Matters.

(a)Any prior agreements, commitments or negotiations concerning the Options are superseded by these Standard Terms and your Notice of Grant. You hereby acknowledge that a copy of the 2016 Plan has been made available to you. The grant of Options to you in any one year, or at any time, does not obligate the Company or any Subsidiary to make a grant in any future year or in any given amount and should not create an expectation that the Company or any Subsidiary might make a grant in any future year or in any given amount.

(b)Options are not part of your Service contract (if any, unless otherwise specified therein), your salary, your normal or expected compensation, or other remuneration for any purposes, including for purposes of computing severance pay or other termination compensation or indemnity.

(c)Notwithstanding any other provision of these Standard Terms, if any changes in the financial or tax accounting rules applicable to the Options covered by these Standard Terms shall occur which, in the sole judgment of the Committee, may have an adverse effect on the reported earnings, assets or liabilities of 

Non-Employee Director

the Company, the Committee may, in its sole discretion, modify these Standard Terms or cancel and cause a forfeiture with respect to any unvested Options at the time of such determination.

(d)Nothing contained in these Standard Terms creates or implies an employment contract or term of employment upon which you may rely.

(e)Notwithstanding any provision of these Standard Terms, the Notice of Grant or the 2016 Plan to the contrary, if, at the time of your termination of Service with the Company, you are a “specified employee” as defined in Section 409A of the Code, and one or more of the payments or benefits received or to be received by you pursuant to the Options would constitute deferred compensation subject to Section 409A, no such payment or benefit will be provided under the Options until the earliest of (A) the date which is six (6) months after your “separation from service” for any reason, other than death or “disability” (as such terms are used in Section 409A(a)(2) of the Code), (B) the date of your death or “disability” (as such term is used in Section 409A(a)(2)(C) of the Code) or (C) the effective date of a “change in the ownership or effective control” of the Company (as such term is used in Section 409A(a)(2)(A)(v) of the Code). The provisions of this Section 15(e) shall only apply to the extent required to avoid your incurrence of any penalty tax or interest under Section 409A of the Code or any regulations or Treasury guidance promulgated thereunder. In addition, if any provision of the Options would cause you to incur any penalty tax or interest under Section 409A of the Code or any regulations or Treasury guidance promulgated thereunder, the Committee may reform such provision to maintain to the maximum extent practicable the original intent of the applicable provision without violating the provisions of Section 409A of the Code.

(f)Notwithstanding any provision of these Standard Terms, the Notice of Grant or the 2016 Plan to the contrary, if the Company determines, based upon the advice of the tax advisors for the Company, that part or all of the consideration, compensation or benefits to be paid to you pursuant to the Options constitute “parachute payments” under Section 280G(b)(2) of the Code, then, if the aggregate present value of such parachute payments, singularly or together with the aggregate present value of any consideration, compensation or benefits to be paid to you under any other plan, arrangement or agreement which constitute “parachute payments” (collectively, the “Parachute Amount”) exceeds 2.99 times your “base amount,” as defined in Section 280G(b)(3) of the Code (the “Base Amount”), the amounts constituting “parachute payments” which would otherwise be payable to you or for your benefit shall be reduced to the extent necessary so that the Parachute Amount is equal to 2.99 times the Base Amount (the “Reduced Amount”). In the event of a reduction of the payments that would otherwise be paid to you, then the Company may elect which and how much of any particular entitlement shall be eliminated or reduced and shall notify you promptly of such election; provided, however, that the aggregate reduction shall be no more than as set forth in the preceding sentence of this Section 15(f). Within ten (10) days following such election, the Company shall pay you such amounts as are then due pursuant to the Options and shall pay you in the future such amounts as become due pursuant to the Options. As a result of the uncertainty in the application of Section 280G of the Code at the time of a determination hereunder, it is possible that payments will be made by the Company which should not have been made (“Overpayment”) or that additional payments which are not made by the Company pursuant to this Section 15(f) should have been made (“Underpayment”). In the event of a final determination by the Internal Revenue Service, a final determination by a court of competent jurisdiction or a change in the provisions of the Code or regulations or tax law, that an Overpayment has been made, any such Overpayment shall be treated for all purposes as a loan to you that you shall repay to the Company together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code. In the event of a final determination by the Internal Revenue Service, a final determination by a court of competent jurisdiction or a change in the provisions of the Code or regulations or tax law pursuant to which an Underpayment arises under this Agreement, any such Underpayment shall be promptly paid by the Company 

Non-Employee Director

to you or for your benefit, together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code.

(g)Because these Standard Terms relate to terms and conditions under which you may purchase Common Stock, an essential term of these Standard Terms is that it shall be governed by the laws of the State of Delaware, without regard to choice of law principles of Delaware or other jurisdictions. Any action, suit, or proceeding relating to these Standard Terms or the Options granted hereunder shall be brought in the state or federal courts of competent jurisdiction in the State of California.

(h)Copies of the Company’s Annual Report to Stockholders for its latest fiscal year and the Company’s latest quarterly report are available, without charge, at the Company’s business office.

(i)Any notice required by these Standard Terms shall be given in writing and shall be deemed effective upon personal delivery or upon deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid. Notice shall be addressed to you at the address set forth in the records of the Company. Notice shall be addressed to the Company at: 
	
	
	Clean Diesel Technologies, Inc.

	1621 Fiske Place
Oxnard, California
Attention: Compensation and Nominating Committee

Non-Employee Director

EXHIBIT A
NOTICE OF EXERCISE
(To be signed only upon exercise of the option)
	
	
	Clean Diesel Technologies, Inc.

	1621 Fiske Place
Oxnard, California
Attention: Compensation and Nominating Committee

1.    Exercise of Option. The undersigned (the “Optionee”), the holder of the enclosed Non-Qualified Stock Option Agreement, hereby irrevocably elects to exercise the purchase rights represented by the options and to purchase thereunder _________________*  shares (the “Shares”) of Common Stock of Clean Diesel Technologies, Inc. (the “Company”), and herewith encloses, in full payment of the purchase price of such shares being purchased, payment of (check all that apply):
		
	

	$___________ in lawful money of the United States of America; and/or

		
	

	_______________ shares of the Company’s common stock; and/or

		
	

	irrevocable instructions to a broker pursuant to a sale and remittance program approved by the Committee; and/or

		
	

	_________ shares of the Company’s common stock pursuant to the net issue exercise provisions of Section 4(b)(iii) of the Non-Qualified Stock Option Agreement.

2.    Investment and Taxation Representations. In connection with the purchase of the Shares pursuant to the Non-Qualified Stock Option Agreement, Optionee represents to the Company the following:
(a)Optionee is aware of the Company’s business affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Shares; and
(b)Optionee understands that Optionee may suffer adverse tax consequences as a result of Optionee’s purchase or disposition of the Shares. Optionee represents that Optionee has consulted any tax consultants Optionee deems advisable in connection with the purchase or disposition of the Shares and that Optionee is not relying on the Company for any tax advice.

 *Insert here the number of shares called for on the face of the Option, or, in the case of a partial exercise, the number of shares being exercised, in either case without making any adjustment for additional Common Stock of the Company, other securities or property that, pursuant to the adjustment provisions of the Option, may be deliverable upon exercise.

Non-Employee Director

I ACKNOWLEDGE AND AGREE THAT THE SHARES ARE SUBJECT TO THE TERMS OF THE STANDARD TERMS INCLUDED WITH THE NOTICE OF NON-QUALIFIED STOCK OPTION GRANT.
Dated:                
                            	
	
	 

	(Signature must conform in all respects to name of holder as specified on the face of the Option)

	 

	(Please Print Name)

	 

	(Address)Exhibit 4.14

 

SERVICES AGREEMENT

 

This Services
Agreement (the “Agreement”) is entered into as of May 14, 2016, by and between intec
pharma ltd., a company incorporated under the laws of the State of Israel, with its principal office at 12 Hartom Street,
Har Hotzvim, Jerusalem 9777512, Israel (the “Company”), and John Warren Kozarich of 6999 Royal Birkdale Place,
PO Box 675758, Rancho Santa Fe, CA 92067-5758 USA (the “Chairman”).

 

Whereas,
the Chairman has presented his nomination to act as the chairman of the board of directors of the Company (the “Board”);
and

 

Whereas,
the Board deems it’s advisable and in the best interest of the Company to appoint the Chairman (subject to the approval of
Company’s shareholders) to act as the chairman of the Board;

 

Now,
Therefore, it is hereby agreed as follows:

 

		1.	Term; Termination.

 

		1.1.	Subject to the approval of the terms of this Agreement by the Company’s shareholders and
the effectiveness of the Chairman’s appointment as the Chairman of the Board, this Agreement shall become effective on July
1, 2016 and shall continue for a period of three (3) years thereafter, or until its termination in accordance with its terms (the
“Term”).

 

		1.2.	Each of the parties (in the case of termination by the Company, in accordance with a resolution
of the Board to remove the Chairman from his position as chairman of the Board) may at any time terminate this Agreement for whatever
reason with an advance written notice of at least 90 days.

 

		1.3.	Notwithstanding anything to the contrary, the Agreement shall automatically terminate on the date
the Chairman no longer serves as the chairman of the Board of the Company.

 

		2.	The Services.

 

		2.1.	During the Term, the Chairman shall render his services, advice and assistance to the Company and
to the Board and management as may be consistent with his title of Chairman of the Board and as may be required by applicable law
and shall, among others: (a) regularly participate and preside at Board meetings, (b) chair the annual meeting of the
Company’s shareholders, and (c) to the extent requested by and in coordination with the Company’s Chief Executive
Officer: (i) provide support with potential customer and industry relations; (ii) provide assistance and guidance on
Company strategy; (iii) support strategic employee recruiting and retention; (iv) provide support on investor relations;
and (v) recommend world-class Board candidates to the Board for its evaluation (the “Services”).

 

		2.2.	The Services shall be rendered in the USA, but the Chairman shall do such traveling on behalf of
the Company as may be reasonably required by his duties.

 

		2.3.	The Services shall be provided to the Company by the Chairman only.

 

		2.4.	The Chairman shall utilize the highest professional skill, diligence, ethics and care in providing
the Services.

 

		3.	Consideration.

 

		3.1.	As sole compensation for the Services, the Company shall pay the Chairman the fees set forth in
Exhibit A (the “Fees”).

 

		3.2.	The Fees constitute the full and final consideration for the Services, and the Chairman shall not
be entitled to any additional consideration (including, without limitations, any annual or per meeting fees for participation in
and/or attending meetings of, the Board and/or committees thereof), of any form, for the Services.

 

     

     

    

 

		3.3.	By signing this Agreement, the Chairman acknowledges and agrees that as a Chairman to the Company,
he is not entitled to receive from the Company any social benefits (including without limitation, health insurance, paid vacation
days, paid sick leave, severance payments, pension funds, etc.).

 

		3.4.	All income taxes, national and health insurance payments and any other taxes and levies, of whatever
nature, imposed on the payment to the Chairman hereunder or which may arise as a result of this Agreement, shall be borne and payable
by the Chairman only, and the Chairman shall be responsible for the payment thereof.

 

		3.5.	In the event that pursuant to any law or regulation, tax is required to be withheld at source from
any payment made to the Chairman, the Company shall withhold said tax at the rate set forth in the certification issued by applicable
tax authority or if there is no such certification, at the rate determined by said law, regulation or tax treaty provisions, unless
the Chairman has presented the Company with a valid tax withholding exemption certificate issued by the applicable tax authority,
in which case the reduced withholding tax will apply. Any tax so withheld by the Company or paid by the Chairman shall be deemed
for all intents and purposes as part of the Fees paid to the Chairman.

 

		4.	Independent Contractor.

 

		4.1.	The Chairman agrees and acknowledges that he is performing the Services hereunder as an independent
contractor and that no employer-employee relationship exists or will exist between the Company and the Chairman.

 

		4.2.	The Chairman hereby fully and irrevocably represents, warrants and undertakes as follows:

 

		4.2.1.	The execution and delivery of this Agreement and the fulfillment of the terms hereof (i) will not
constitute a default under or conflict with any agreement or other instrument to which the Chairman is a party or bound to; (ii)
will not result in a breach of any confidentiality undertaking to any third party, and (iii) do not require the consent of any
person or entity.

 

		4.2.2.	The Fees are the sole and exclusive consideration which the Company shall be required to pay for
the Services rendered to it.

 

		4.2.3.	The Chairman is estopped from making any claim regarding the existence of employer-employee relations
with the Company.

 

		4.2.4.	If, despite the parties' express representations and agreements hereunder, it shall, at any time,
be determined by a court of competent jurisdiction or by any other governmental authority, that the Chairman is an employee of
the Company or is holding any other status (rather than an independent contractor) with the Company (in each case in light of a
claim by the Chairman with respect to its independent contractor status), and that as a consequence of such employment or other
status the Chairman is entitled to payments or benefits that are not otherwise entitled to according to this Agreement, then all
payments made and benefits granted to the Chairman pursuant to this Agreement will be reduced by 30%, retroactively as of their
payment or grant. In such event, the Chairman will repay the Company any overpayment made by the Company as a consequence of such
reduction. Furthermore, the Company will be entitled to set off that amount from all payments the Chairman will be entitled to
receive from the Company.

 

		5.	Confidentiality; Non-Use. Chairman
will not, during or subsequent to the Term: (i) use the Confidential Information for any purpose whatsoever other than the
performance of the Services or (ii) disclose the Confidential Information to any third party. Chairman agrees that all Confidential
Information will remain the sole property of the Company. Chairman also agrees to take all reasonable precautions to prevent any
unauthorized disclosure of such Confidential Information.

 

    	 	2	 

     

    

 

For the purpose of this Agreement
“Confidential Information” means any non-public information that relates to the actual or anticipated business
or research and development of the Company, technical data, trade secrets or know-how, including, but not limited to, research,
product plans or other information regarding Company’s products or services and markets therefor, customer lists and customers,
developments, inventions, processes, formulas, technology, designs, drawing, engineering, marketing, finances or other business
information. Confidential Information does not include information that has become publicly known and made generally available
through no wrongful act of Chairman.

 

		6.	Non-Compete; Non-Solicitation. Chairman
shall not, directly or indirectly, in any capacity whatsoever, whether independently or as a shareholder, employee, consultant,
officer or in any managerial capacity, carry on, set up, own, manage, control or operate, be employed, engaged or interested in
a business anywhere in the world which directly competes with the Company; The foregoing shall not apply to (i) holdings of securities
of any company that shares of which are publicly traded on a stock exchange, so long as the Chairman has no active role in such
public company, or (ii) de minims non- commercial activities. For the purpose of this Agreement, a “business competes
with the Company” in the event such business functions in the development of products that might directly compete with
the Company's products or product candidates.

 

Further, the Chairman shall not,
directly or indirectly, interfere with the commercial relationship between the Company and any person who is or was a customer,
prospective customer, supplier, subcontractor, employee or consultant of the Company (or its subsidiaries), and will not, directly
or indirectly, induce any employee or consultant of the Company (or its subsidiaries) to leave his employment/engagement therewith
or to derogate from the time he commits to such employment/engagement with the Company. This Section 6 shall survive the expiration
or early termination of the Agreement for a period of one (1) year.

 

		7.	New Inventions. The Chairman
agrees and declares that all Inventions (as defined below) which the Chairman has developed or may develop, made, conceived, reduced
to practice, or learned, either alone or with others during the period Chairman provides the Services, that (i) are developed in
whole or in part using Company’s equipment, supplies, facilities or Confidential Information, or (ii) directly result from
any task assigned to the Chairman or any work performed by the Chairman for or on behalf of the Company, or by the scope of the
Chairman’s duties and responsibilities with the Company under this Agreement, or (iii) are directly related to the business
competes with the Company, or to any future business the Company will actually engage in while the Chairman provides Services to
the Company (the “Company Inventions”), shall be the sole property of the Company and its assigns, and the Chairman
agrees and declares that he does not have any proprietary right and shall have no suit and/or claim of any kind against the Company
in any matter relating to any Company Inventions and the intellectual property rights thereto. The Chairman shall provide the Company
with any and all information and documents relating to the Company Inventions in his possession, or development that Chairman has
developed conceived, reduced to practice, during the Term of this Agreement or in the course of, and due to, Chairman’s Services
under this Agreement. Without derogating from the aforementioned, the Chairman hereby explicitly waives any interest, claim or
demand that it may have for, or may be entitled to, with respect to any consideration, compensation or royalty in connection with
the Company Inventions, including but not limited to, any claims for consideration, compensation or royalty pursuant to Section
134 of the Israeli Patents Law of 1967 (the “Patents Law”) (if and as applicable). Chairman hereby acknowledges
and declares that the Fees and any other benefits provided under this Agreement constitute the entire compensation to which he
is entitled to from the Company and includes any and all consideration with respect to the Company Inventions developed by him.
Chairman further waives the right to bring any claims, demands or allegations to receive compensation, consideration or royalty
with respect to the Moral Rights (as defined below) and the Company Inventions before the Committee for Compensation and Royalties
under the Patents Law (the “Committee”). Notwithstanding the above, in the event that despite the parties’
agreement hereunder as set forth in this Section 7 and in Section 9 below, the aforementioned waiver it is determined
by any competent authority (including but not limited to the Committee) that for any reason whatsoever Chairman is or will be entitled
to consideration, compensation or royally in connection with one or more Company Inventions, Chairman agrees and acknowledges that
the Fees described hereunder will be deemed the sole and final consideration, compensation or royalty payments to which Chairman
is, and will be, entitled to from the Company in connection with such Company Inventions. 

 

    	 	3	 

     

    

 

For the purpose
of this Agreement “Intellectual Property Rights” means all rights patents, copyrights, trade secrets,
trademarks, service marks, trade names, applications and other proprietary rights in any jurisdiction, arising from any Inventions.
“Inventions” means any patent applications, patents, trade secrets, know-how, technical information, work product,
designs, ideas concepts, information, materials, processes, data, programs, improvements, innovations, discoveries, developments,
artwork, works of authorship, concepts, drawings, algorithms, techniques, methods, systems, processes, compositions of matter,
computer software programs, databases and mask works formulae, other copyrightable works, and technique, whether or not patentable,
copyrightable or protectable as trade secrets, irrespective of whether registered as a patent, copyright, trademark or in another
form.

 

		8.	Intellectual Property Assignment. The Chairman hereby assigns and agrees to assign
in the future (when any such Company Inventions or intellectual property rights are first reduced to practice or first fixed in
a tangible medium, as applicable) to the Company all the Chairman's right, title, and interest in and to any and all Company Inventions
(and all intellectual property rights with respect thereto) and shall sign, execute and acknowledge, at the Company’s expense,
any and all documents as may be necessary for the purpose of securing to the Company the Company Inventions. The Chairman agrees
to reasonably assist the Company at the Company’s cost in every proper way to obtain and enforce its property rights relating
to the Company Inventions in all countries.

 

		9.	Waiver of IP Claims and Moral Rights. The Chairman hereby explicitly waives any interest,
claim or demand for any Moral Rights that it has or may have in the future, with respect to the Company Inventions and all rights
to assert against the Company, any claim whatsoever, before any forum, including without limitations judicial and administrative
forums, with respect to said compensation for Company Inventions or with respect to said Moral Rights. “Moral Rights”
as used herein includes all rights of paternity, integrity, disclosure and withdrawal and any other rights that may be known as
or referred to as “moral rights,” “artist’s rights,” “droit moral,” or the like, including
without limitation, the rights of an author under Section 45 of the Israeli Copyright Law of 2007, or any other similar provision
under any law of any applicable jurisdiction, including the right of the author to be known as the author of its work; to prevent
others from being named as the author of its work; to prevent others from making deforming changes in its work in a manner that
reflects negatively on its professional standing, its goodwill or dignity. To the extent Chairman retains any such Moral Rights
under applicable law, it hereby ratifies and consents to any actions that may be taken by or authorized by the Company with respect
to such Moral Rights, and agrees not to assert any Moral Rights with respect thereto. The Chairman will confirm any such ratifications,
consents and agreements from time to time as requested by the Company

 

		10.	Governing Law and Venue. This
Agreement shall be governed by and construed under the laws of the State of Israel without reference to its principles and laws
relating to the conflict of laws. The competent court of Tel-Aviv-Jaffa in Israel shall have exclusive jurisdiction with respect
to any dispute and action arising under or in relation to this Agreement.

 

		11.	Miscellaneous. This Agreement may not be assigned by either party. This Agreement may not
be amended or modified, except by the written consent of both parties hereto. In the event that any covenant, condition or other
provision contained in this Agreement is held to be invalid, void or illegal by any court of competent jurisdiction, the same shall
be deemed severable from the remainder thereof, and shall in no way affect, impair or invalidate any other covenant, condition
or other provision therein contained. All notices required to be delivered under this Agreement shall be effective only if in writing
and shall be deemed given when received by the party to whom notice is required to be given and shall be delivered personally,
by registered mail to the addresses noted above (or such other address as either party may designate to the other by notice in
writing in accordance with the terms hereof), by fax or by means of electronic communication.

 

Notwithstanding
anything to the contrary provided in the Agreement the obligations under Sections 5, 7 ,8 and 9 shall survive the expiration or
early termination of this Agreement.

 

    	 	4	 

     

    

 

IN WITNESS WHEREOF, the parties have executed
this Agreement as of the date first above written.

 

Intec Pharma
Ltd.

 

	By:	
        /s/ Zeev Weiss
	

	Name:	Zeev Weiss	 
	Title:	Chief Executive Officer	 

 

	Chairman	 	 
	 	 	 
	By:	 /s/ John Warren
    Kozarich	 
	Name:	 John Warren Kozarich	 

 

    	 	5	 

     

    

 

Exhibit
A

 

Fee
Schedule

 

	Annual Fee; Expense Reimbursement:	 	
        US$80,000 paid in four quarterly payments payable
        each within 15 days of the end of each quarter.

         

        The Company shall reimburse the Chairman for
        its out-of-pocket expenses incurred in connection with providing the Services against invoices and/or receipts.

	 	 	 
	Options:	 	
        A one-time grant of options to purchase up
        to 224,478 ordinary shares of the Company, representing 1.75% of the Company's fully diluted share capital, with a 3-year vesting
        schedule (the options will vest in three equal annual tranches over a three-year period), and an exercise price per share equal
        to the average closing sale prices for such shares on NASDAQ over the thirty (30) day calendar period preceding the date of the
        Board approving the grant (which is equal or greater than the fair market value of an ordinary share of the Company in accordance
        with Section 409A of the U.S. Internal Revenue Code of 1986, as amended (the "Code") on the date of award) (the
        “Options”). The Options will be subject to the terms and conditions of the 2015 Equity Incentive Plan of the
        Company (the "Plan") and the option agreement provided pursuant to the Plan, which the Chairman will be required
        to sign as a condition to receiving the Options.

         

        The Options shall automatically be accelerated
        and become fully vested in the event of a "Change in Control".

         

        A “Change in Control”
        means (a) (i) the sale of all or substantially all of the assets of the Company and its subsidiaries in a single transaction or
        series of related transactions whether by liquidation, dissolution, merger, consolidation or sale or (ii) the sale or other transfer
        of at least 51% of the outstanding ordinary shares of the Company in a single transaction or a series of related transactions,
        in either case to any person who is not an affiliate of the Company, or of a shareholder thereof, immediately prior to such transaction
        or transactions, or (b) the effective time of any merger, share exchange, consolidation, or other business combination of the Company
        if immediately after such transaction persons who hold a majority of the outstanding voting securities entitled to vote generally
        in the election of directors of the surviving entity (or the entity owning 100% of such surviving entity) are not persons who,
        immediately prior to such transaction, held the majority of the outstanding securities of the Company entitled to vote generally
        in the election of directors; provided, however, that such sale, transfer or other event results in a change in control within
        the meaning of Section 409A of the Code.

	 	 	 
	D&O Insurance / Indemnification	 	In accordance with Company’s policy.

 

    	 	6

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