Document:

Exhibit 10.12

 

PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT

 

THIS PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT,
dated as of [●], 2021, (as it may from time to time be amended, this “Agreement”), is entered into by and between
GP-Act III Acquisition Corp., a Cayman Islands exempted company (the “Company”) and Cantor Fitzgerald & Co. (the
 “Purchaser”).

 

WHEREAS, the Company intends to consummate an initial
public offering of the Company’s units (the “Public Offering”), each unit consisting of one Class A ordinary
share of the Company, par value $0.0001 per share (each, an “Ordinary Share”), and one-half of one redeemable warrant;

 

WHEREAS, each whole warrant entitles the holder to
purchase one Ordinary Share at an exercise price of $11.50 per Ordinary Share; and

 

WHEREAS, the Purchaser has agreed to purchase 2,500,000
warrants (the “Private Placement Warrants”).

 

NOW THEREFORE, in consideration of the mutual promises
contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

AGREEMENT

 

Section 1.              Authorization,
Purchase and Sale; Terms of the Private Placement Warrants.

 

A.               
Authorization of the Private Placement Warrants. The Company has duly authorized the issuance and sale of the Private Placement
Warrants to the Purchaser.

 

B.                
Purchase and Sale of the Private Placement Warrants.

 

(i)            On the date of the consummation of the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser
and the Company (the “Initial Closing Date”), the Company shall issue and sell
to the Purchaser, and the Purchaser agrees to purchase from the Company, 2,500,000 Private Placement Warrants, each at a price of $1.00
per warrant for the aggregate purchase price of $2,500,000, not including additional Private Placement Warrants that may be purchased
pursuant to Section 1(B)(ii)) (the “Purchase Price”), which shall be paid by
the Purchaser by wire transfer of immediately available funds to the Company at least one day prior to the Initial Closing Date in accordance
with the Company’s wiring instructions. On the Initial Closing Date, following the payment by the Purchaser of the Purchase Price
by wire transfer of immediately available funds to the Company, the Company, at its option, shall deliver a certificate to the Purchaser
evidencing the Private Placement Warrants purchased and received by the Purchaser on such date duly registered in the Purchaser’s
name to the Purchaser or effect such delivery in book-entry form.

 

     

     

    

 

(ii)           On the date of any closing of the over-allotment option in connection with the Public Offering or on such earlier time and date
as may be mutually agreed by the Purchaser and the Company (each such date, an “Over-allotment
Closing Date,” and each Over-allotment Closing Date (if any and where applicable) and the Initial Closing Date, a “Closing
Date”), the Company shall issue and sell to the Purchaser, and the Purchaser agrees to purchase from the Company, up
to 375,000 Private Placement Warrants, in the same proportion as the amount of the option that is then so exercised, at a price of $1.00
per warrant for an aggregate purchase price of up to $375,000 (if the over-allotment option in connection with the Public Offering is
exercised in full) (the “Over-allotment Purchase Price”), which shall be paid
by wire transfer of immediately available funds to the Company at least one day prior to such Over-allotment Closing Date in accordance
with the Company’s wiring instructions. On the Over-allotment Closing Date, following the payment by the Purchaser of the Over-allotment
Purchase Price by wire transfer of immediately available funds to the Company, the Company, at its option, shall deliver a certificate
evidencing the Private Placement Warrants purchased by the Purchaser on such date duly registered in the Purchaser’s name to the
Purchaser, or effect such delivery in book-entry form.

 

C.                
Terms of the Private Placement Warrants.

 

(i)            Each
Private Placement Warrant shall have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent,
in connection with the Public Offering (a “Warrant Agreement”).

 

(ii)          At
the time of, or prior to, the closing of the Public Offering, the Company and the Purchaser shall enter into a registration rights agreement
(the “Registration Rights Agreement”) pursuant to which the Company will grant
certain registration rights to the Purchaser relating to the Private Placement Warrants and the Ordinary Shares underlying the Private
Placement Warrants.

 

D.               
FINRA Restrictions.

 

The undersigned further acknowledges and agrees
that the Private Placement Warrants will be deemed compensation by the Financial Industry Regulatory Authority (“FINRA”)
and will, therefore, be subject to restrictions imposed by FINRA Rule 5110(e). The Private Placement Warrants and underlying shares may
not be sold, transferred, assigned, pledged or hypothecated or be the subject of any hedging, short sale, derivative, put or call transaction
that would result in the economic disposition of such securities by any person for a period of 180 days immediately following the commencement
of sales of the offering except to any member participating in the offering and the officers or partners, registered persons or affiliates
thereof if all securities so transferred remain subject to the lock-up restriction for the remainder of the time period or as otherwise
permitted by FINRA Rule 5110(e)(2). In addition, for as long as the Private Placement Warrants are held by the Purchaser or its designees
or affiliates, they may not be exercised after five years from the effective date of the registration statement. The Purchaser will have
resale registration rights, but may not exercise its demand and “piggy back” registration rights beyond five (5) and seven
(7) years, respectively, after the effective date of the registration statement and may not exercise its demand rights on more than one
occasion.

 

     2

     

    

 

Section 2.             Representations
and Warranties of the Company. As a material inducement to the Purchaser to enter into this Agreement and purchase the Private Placement
Warrants, the Company hereby represents and warrants to the Purchaser (which representations and warranties shall survive the Closing
Date) that:

 

A.               
Organization and Corporate Power. The Company is an exempted company duly incorporated, validly existing and in good standing
under the laws of the Cayman Islands and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably
be expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company possesses
all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement and the Warrant Agreement.

 

B.                
Authorization; No Breach.

 

(i)            The
execution, delivery and performance of this Agreement and the Private Placement Warrants have been duly authorized by the Company as
of the Closing Date. This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance with its terms.
Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the Private Placement
Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as of the Closing Date.

 

(ii)           The
execution and delivery by the Company of this Agreement and the Private Placement Warrants, the issuance and sale of the Private Placement
Warrants, the issuance of the Ordinary Shares upon exercise of the Private Placement Warrants and the fulfillment, of and compliance
with, the respective terms hereof and thereof by the Company, do not and will not as of the Closing Date (a) conflict with or result
in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any lien, security
interest, charge or encumbrance upon the Company’s share capital or assets under, (d) result in a violation of, or (e) require
any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with, any court or administrative
or governmental body or agency pursuant to, the amended and restated memorandum and articles of association of the Company (in effect
on the date hereof or as may be amended prior to completion of the contemplated Public Offering), or any material law, statute, rule
or regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject, except for
any filings required after the date hereof under federal or state securities laws.

 

C.                 Title
to Securities. Upon issuance in accordance with, and payment pursuant to, and registration in the register of members of the
Company, the terms hereof and the Warrant Agreement and the Amended and Restated Memorandum and Articles of Association of the
Company, the Ordinary Shares issuable upon exercise of the Private Placement Warrants will be duly and validly issued, fully paid
and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the
Purchaser will have good title to the Private Placement Warrants and the Ordinary Shares issuable upon exercise of such Private
Placement Warrants, free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions
hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions under federal and state securities
laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Purchaser.

 

     3

     

    

 

D.               
Governmental Consents. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental
authority is required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation
by the Company of any other transactions contemplated hereby.

 

E.               
Additional Representations. The representations and warranties of the Company set forth in the Underwriting Agreement, dated
as of the date hereof, by and between the Company and the Purchaser, are hereby incorporated herein.

 

 

Section 3.             Representations
and Warranties of the Purchaser. As a material inducement to the Company to enter into this Agreement and issue and sell the Private
Placement Warrants to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties
shall survive the Closing Date) that:

 

A.               
Organization and Requisite Authority. The Purchaser possesses all requisite power and authority necessary to carry out the
transactions contemplated by this Agreement.

 

B.                
Authorization; No Breach.

 

(i)            This
Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting creditors’
rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii)           The
execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the Purchaser
does not and shall not as of the Closing Date conflict with or result in a breach by the Purchaser of the terms, conditions or provisions
of any agreement, instrument, order, judgment or decree to which the Purchaser is subject.

 

C.                
Investment Representations.

 

(i)            The
Purchaser is acquiring Private Placement Warrants as described above and, upon exercise of such Private Placement Warrants, the Ordinary
Shares issuable upon such exercise (collectively, the “Securities”), for the
Purchaser’s own account, for investment purposes only and not with a view towards, or for resale in connection with, any public
sale or distribution thereof.

 

(ii)           The
Purchaser is an “accredited investor” as such term is defined in Rule 501(a) of Regulation D under the Securities Act
of 1933, as amended (the “Securities Act”).

 

(iii)          The
Purchaser understands that the Securities are being offered and will be sold to it, him or her in reliance on specific exemptions from
the registration requirements of the United States federal and state securities laws and that the Company is relying upon the truth and
accuracy of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth herein in order
to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

     4

     

    

 

(iv)          The
Purchaser decided to enter into this Agreement not as a result of any general solicitation or general advertising within the meaning
of Rule 502(c) of Regulation D under the Securities Act.

 

(v)          The Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and materials
relating to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the opportunity
to ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment in the Securities
involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make an informed
investment decision with respect to the acquisition of the Securities.

 

(vi)         The
Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed on or made
any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities by the Purchaser
nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(vii)        The
Purchaser understands that: (a) the Securities have not been and are not being registered under the Securities Act or any state securities
laws, and may not be offered for sale, sold, assigned or transferred unless (1) in a registered transaction or (2) sold in reliance on
an exemption therefrom; and (b) except as specifically set forth in the Registration Rights Agreement, neither the Company nor any other
person is under any obligation to register the Securities under the Securities Act or any state securities laws or to comply with the
terms and conditions of any exemption thereunder. In this regard, the Purchaser understands that the Securities and Exchange Commission
(the “SEC”) has taken the position that promoters or affiliates of a blank
check company and their transferees, both before and after a Business Combination, are deemed to be “underwriters” under
the Securities Act when reselling the securities of a blank check company. Based on that position, Rule 144 adopted pursuant to the Securities
Act would not be available for resale transactions of the Securities despite technical compliance with the requirements of such Rule,
and the Securities can be resold only through a registered offering or in reliance upon another exemption from the registration requirements
of the Securities Act.

 

(viii)       The Purchaser has such knowledge and experience in financial and business matters, knows of the high degree of risk associated
with investments in the securities of companies in the development stage such as the Company, is capable of evaluating the merits and
risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount contemplated
hereunder for an indefinite period of time. The Purchaser has adequate means of providing for its current financial needs and contingencies
and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Securities. The
Purchaser can afford a complete loss of its investments in the Securities.

 

     5

     

    

 

(ix)          The Purchaser understands that the Private Placement Warrants shall bear the legend substantially in the form set forth in the
Warrant Agreement.

 

Section 4.              
Additional Agreements, Acknowledgements and Waivers of the Purchaser

 
A.               
The Purchaser hereby acknowledges that it is aware that the Company will establish a trust account (the “Trust Account”)
for the benefit of its public shareholders upon the closing of the IPO. The Purchaser, for itself and its affiliates, hereby agrees that
it has no right, title, interest or claim of any kind in or to any monies held in the Trust Account, or any other asset of the Company
as a result of any liquidation of the Company, provided that nothing in this paragraph shall (i) serve to limit or prohibit the Purchaser’s
right to pursue a claim against the Company for legal relief against assets held outside the Trust Account, for specific performance or
other equitable relief; (ii) serve to limit or prohibit any claims that the Purchaser may have in the future against the Company’s
assets or funds that are not held in the Trust Account (including any funds that have been released from the Trust Account and any assets
that have been purchased or acquired with any such funds); (iii) apply to the Purchaser’s rights or claims, if any, to any funds
in the Trust Account with respect to any common stock sold as part of the units in the Public Offering or acquired in the aftermarket
(if any) held by the Purchaser; (iv) apply to any redemption and liquidation rights, if any, the Purchaser may have in respect of any
Ordinary Shares held by it and (v) apply to any rights to the payment of a Deferred Underwriting Commission (as defined in the Underwriting
Agreement), if any, the Purchaser may have pursuant to the Underwriting Agreement and the Investment Management Trust Agreement between
the Company and Continental Stock Transfer & Trust Company.

 

B.                
The Purchaser hereby agrees that it shall have no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it
may have now or in the future, provided that nothing in this paragraph shall (i) serve to limit or prohibit the Purchaser’s right
to pursue a claim against the Company for legal relief against assets held outside the Trust Account, for specific performance or other
equitable relief; (ii) serve to limit or prohibit any claims that the Purchaser may have in the future against the Company’s assets
or funds that are not held in the Trust Account (including any funds that have been released from the Trust Account and any assets that
have been purchased or acquired with any such funds); (iii) apply to the Purchaser’s rights or claims, if any, to any funds in the
Trust Account with respect to any common stock sold as part of the units in the Public Offering or acquired in the aftermarket (if any)
held by the Purchaser; (iv) apply to any redemption and liquidation rights, if any, the Purchaser may have in respect of any Ordinary
Shares held by it and (v) apply to any rights to the payment of a Deferred Underwriting Commission (as defined in the Underwriting Agreement),
if any, the Purchaser may have pursuant to the Underwriting Agreement and the Investment Management Trust Agreement between the Company
and Continental Stock Transfer & Trust Company.

  

    6

     

    

 

Section 5.              Conditions
of the Obligations of the Purchaser. The obligations of the Purchaser to purchase and pay for the Private Placement Warrants are
subject to the fulfillment, on or before the Closing Date, of each of the following conditions:

 

A.               
Representations and Warranties. The representations and warranties of the Company contained in Section 2 shall be true and
correct at and as of the Closing Date as though then made.

 

B.                
Performance. The Company shall have performed and complied with all agreements, obligations and conditions contained in
this Agreement that are required to be performed or complied with by it on or before the Closing Date.

 

C.                
No Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization
having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this
Agreement or the Warrant Agreement.

 

D.               
Warrant Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to
the Purchaser.

 

Section 6.              Conditions
of the Company’s Obligations. The obligations of the Company to the Purchaser under this Agreement are subject to the fulfillment,
on or before the Closing Date, of each of the following conditions:

 

A.               
Representations and Warranties. The representations and warranties of the Purchaser contained in Section 3 shall be true
and correct at and as of the Closing Date as though then made.

 

B.                
Performance. The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in
this Agreement that are required to be performed or complied with by the Purchaser on or before the Closing Date.

 

C.                
No Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization
having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this
Agreement or the Warrant Agreement.

 

D.               
Warrant Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to
the Company.

 

Section 7.              Termination.
This Agreement may be terminated at any time after March 31, 2022 upon the election by either the Company or the Purchaser upon written
notice to the other party if the closing of the Public Offering does not occur prior to such date.

 

    7

     

    

 

Section 8.              Survival
of Representations and Warranties. All of the representations and warranties contained herein shall survive the Closing Date.

 

Section 9.              Definitions.
Terms used but not otherwise defined in this Agreement shall have the meaning assigned to such terms in the registration statement on
Form S-1 the Company has filed with the SEC, under the Securities Act.

 

Section 10.              Miscellaneous.

 

A.               
Successors and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement
by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether
so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement, other
than assignments by the Purchaser to its affiliates.

 

B.                
Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such
provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C.                
Counterparts. This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the
signatures of more than one party, but all such counterparts taken together shall constitute one and the same agreement.

 

D.               
Descriptive Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do
not constitute a substantive part of this Agreement. The use of the word “including” in this Agreement shall be by way of
example rather than by limitation.

 

E.                
Governing Law. This Agreement shall be deemed to be a contract made under the laws of the State of New York and for all
purposes shall be construed in accordance with the internal laws of the State of New York.

 

F.                 
Amendments. This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument
executed by all parties hereto.

 

[Signature page follows]

 

    8

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	GP-ACT III ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	PURCHASER:
	 	 
	 	CANTOR FITZGERALD & CO.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature page to Private Placement Warrants
Purchase Agreement]Exhibit 10.1

 

WARRANT EXERCISE AGREEMENT

 

This Warrant Exercise Agreement
(this “Agreement”), dated as of December 20, 2021, is by and between Can-Fite BioPharma Ltd., an Israeli company (the
“Company”), and the undersigned holder (each, a “Holder” and, collectively, the “Holders”)
of Series A warrants to purchase ordinary shares of the Company, par value NIS 0.25 per share (the “Ordinary Shares”),
represented by American Depositary Shares issued by the Company, which warrants were issued on August 16, 2021 and are exercisable at
an exercise price of $2.00 per ADS, (the “Original Warrants”).

 

WHEREAS, the Holder’s
Original Warrants are exercisable into American Depositary Shares represented by a number Ordinary Shares as set forth on the Holder’s
signature page hereto (the “Warrant Shares”) and are currently registered pursuant to registration statement on Form
F-1 (File No. 333-259085) which became effective on August 31, 2021 (the “Registration Statement”).

 

WHEREAS, the Holder wishes
to exercise all or a portion of such Original Warrants as set forth herein and, immediately prior to such exercise and in consideration
of the Holder’s exercise of such Original Warrants, the Company has agreed to issue the Holder, in addition to the ADSs to which
such exercising Holder is entitled, new warrants in the form attached hereto as Exhibit A (the “New Warrants”);
provided that such New Warrants shall not be registered and shall include the legend set forth in Section 2.2(a). The Ordinary Shares
represented by ADSs underlying the New Warrants are referred to herein as the “New Warrant Shares” and collectively
with the New Warrants, the “Securities”. The number of ADSs and Ordinary Shares underlying the New Warrants shall be
as determined pursuant to Section 2.1(c).

 

NOW, THEREFORE, IN CONSIDERATION
of the mutual covenants contained in this Agreement, and for good and valuable consideration the receipt and adequacy of which are hereby
acknowledged, the Holder and the Company agree as follows:

 

ARTICLE I

DEFINITIONS

 

Section 1.1 Definitions.
Capitalized terms not defined in this Agreement shall have the meanings ascribed to such terms in the Original Warrants.

 

ARTICLE II

EXERCISE OF EXISTING WARRANT

 

Section 2.1  Exercise
of Original Warrants.

 

(a) The
Company and the Holder hereby agree that the Holder shall immediately exercise the Original Warrants with respect to the number of Warrant
Shares set forth on the Holder's signature page hereto at an exercise price per share equal to $2.00 per ADS, pursuant to the terms of
the Original Warrants (the “Warrant Exercise”). Notwithstanding anything herein to the contrary, in the event that
the Warrant Exercise would otherwise cause the Holder to exceed the beneficial ownership limitation (the “Beneficial Ownership
Limitation”) in the Original Warrants, the Company shall only issue such number of Warrant Shares to the Holder (as instructed
in writing by the Holder) that would not cause such Holder to exceed the maximum number of Warrant Shares permitted thereunder with the
balance to be held in abeyance until the balance (or portion thereof) may be issued in compliance with such beneficial ownership limitations.
Holder shall provide written notice to the Company promptly when any additional Warrant Shares may be issued in compliance with the Beneficial
Ownership Limitation. The balance of the Warrant Shares shall promptly be issued when the Holder provides notice that the Holder holds
less than the Beneficial Ownership Limitation.

 

    1

     

    

 

(b) Upon
satisfaction of the covenants and conditions set forth in Section 2.3 but no later than the 2nd Trading Days following the
date hereof, the closing shall occur at the offices of H.C. Wainwright & Co., LLC (the “Placement Agent”) or such
other location as the parties shall mutually agree. Unless otherwise directed by the Placement Agent, settlement of the Warrant Shares
shall occur via “Delivery Versus Payment” (“DVP”) (i.e., on the Closing Date, the Company shall issue the
ADSs registered in the Holders’ names and addresses and released by the Depositary directly to the account(s) at the Placement Agent
identified by each Holder; upon receipt of such ADSs, the Placement Agent shall promptly electronically deliver such ADSs to the applicable
Holder, and payment therefor shall be made by the Placement Agent (or its clearing firm) by wire transfer to the Company). The date of
the closing of the exercise of the Original Warrants shall be referred to as the “Closing Date”.

 

(c) Within
two (2) Trading Days of the Closing Date, the Company shall issue to the Holder New Warrants to purchase such number of New Warrant Shares
as follows:

 

A warrant to purchase Ordinary Shares
represented by American Depositary Shares exercisable into a number of ADSs equal to 120% of the number of Warrant Shares received by
the Holder upon such applicable exercise of the Original Warrants with an exercise price equal to $2.00, a term commencing on the Closing
Date and ending five (5) years following the effectiveness of an initial resale registration statement to be filed by the Company registering
the ADSs issuable upon the exercise of the warrants, in the form attached hereto as Exhibit A.

 

Section 2.2  Legends;
Restricted Securities.

 

(a)  The
Holder understands that the New Warrants and the New Warrant Shares are not, and will not be, registered under the Securities Act of 1933,
as amended (the “Securities Act”), or the securities laws of any state and, accordingly, each certificate, if any,
representing such securities shall bear a legend substantially similar to the following:

 

“THIS SECURITY HAS NOT BEEN REGISTERED
WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT
TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY MAY BE
PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT
IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.”

 

    2

     

    

 

(b)  Certificates
evidencing the New Warrant Shares shall not contain any legend (including the legend set forth in Section 2.2(a) hereof), (i) while a
registration statement covering the resale of such New Warrant Shares is effective under the Securities Act, (ii) following any sale of
such New Warrant Shares pursuant to Rule 144, (iii) if such New Warrant Shares are eligible for sale under Rule 144, or (iv) if such legend
is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the
staff of the Commission). In such event, the Company shall cause its counsel to issue a legal opinion to the Transfer Agent if required
by the Transfer Agent to effect the removal of the legend hereunder. If all or any portion of a New Warrant is exercised at a time when
there is an effective registration statement to cover the resale of the New Warrant Shares, or if such New Warrant Shares may be sold
under Rule 144 and the Company is then in compliance with the current public information required under Rule 144, or if the New Warrant
Shares may be sold under Rule 144 without the requirement for the Company to be in compliance with the current public information required
under Rule 144 as to such New Warrant Shares or if such legend is not otherwise required under applicable requirements of the Securities
Act (including judicial interpretations and pronouncements issued by the staff of the Commission), then such New Warrant Shares shall
be issued free of all legends. The Company agrees that at such time as such legend is no longer required under this Section 2.2(b), it
will, no later than two (2) Trading Days following the delivery by the Holder to the Company or the Transfer Agent of a certificate representing
New Warrant Shares, as the case may be, issued with a restrictive legend (such Trading Day, the “Legend Removal Date”),
deliver or cause to be delivered to the Holder a certificate representing such shares that is free from all restrictive and other legends.
The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer
set forth in this Section 2.2(b). Certificates for securities subject to legend removal hereunder shall be transmitted by the Transfer
Agent to the Holder by crediting the account of the Holder’s prime broker with the Depository Trust Company System as directed by
the Holder.

 

(c) In
addition to the Holder’s other available remedies, the Company shall pay to the Holder, in cash, (i) as partial liquidated damages
and not as a penalty, for each $1,000 of New Warrant Shares (based on the VWAP of the Ordinary Shares on the date such New Warrant Shares
are submitted to the Transfer Agent) delivered for removal of the restrictive legend, $10 per Trading Day (increasing to $20 per Trading
Day five (5) Trading Days after such damages have begun to accrue) for each Trading Day after the Legend Removal Date until such certificate
is delivered without a legend and (ii) if the Company fails to (A) issue and deliver (or cause to be delivered) to the Holder by the Legend
Removal Date a certificate representing the New Warrant Shares so delivered to the Company by the Holder that is free from all restrictive
and other legends and (B) if after the Legend Removal Date the Holder purchases (in an open market transaction or otherwise) ADSs or Ordinary
Shares to deliver in satisfaction of a sale by the Holder of all or any portion of the number of ADSs or Ordinary Shares, or a sale of
a number of ADSs or Ordinary Shares equal to all or any portion of the number of ADSs or Ordinary Shares that the Holder anticipated receiving
from the Company without any restrictive legend, then, an amount equal to the excess of the Holder’s total purchase price (including
brokerage commissions and other out-of-pocket expenses, if any) for the ADSs or Ordinary Shares so purchased (including brokerage commissions
and other out-of-pocket expenses, if any) over the product of (1) such number of New Warrant Shares that the Company was required to deliver
to the Holder by the Legend Removal Date multiplied by (2) the price at which the sell order giving rise to such purchase obligation was
executed.

 

    3

     

    

 

Section 2.3 Issuance
of Press Release. Prior to 4:05 p.m. (New York City time) on the date hereof, the Company shall issue a press release disclosing the
material terms of the transactions contemplated hereby and within the time required by the laws file a Report on Form 6-K with the Commission,
which shall include this Agreement (the “6-K Filing”). From and after the issuance of the press release, the Company
represents to the Holder that it shall not be in possession of any material, nonpublic information received from the Company, any of its
Subsidiaries or any of their respective officers, directors, employees or agents that is not disclosed in press release. In addition,
effective upon the issuance of the press release, the Company acknowledges and agrees that any and all confidentiality or similar obligations
under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their respective officers, directors,
affiliates, employees or agents, on the one hand, and the Holder or any of its affiliates, on the other hand, shall terminate.

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES

 

Section 3.1  Representations
and Warranties of the Company. The Company hereby makes the representations and warranties set forth below to the Holder that as of
the date of its execution of this Agreement:

 

(a) Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement by
the Company and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary action on the
part of such Company and no further action is required by such Company, its board of directors or its shareholders in connection therewith.
This Agreement has been duly executed by the Company and, when delivered in accordance with the terms hereof will constitute the valid
and binding obligation of the Company enforceable against the Company in accordance with its terms except (i) as limited by general
equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting
enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive
relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable
law.

 

    4

     

    

 

(b)  Organization.
The Company is a duly organized and validly existing corporation in good standing under the laws of the State of Israel.

 

(c)  Registration
Statement. The Warrant Shares are registered for issuance to the Holder on the Registration Statement, and the Company knows of no
reasons why such Registration Statement shall not remain available for the issuance of such Warrant Shares for the foreseeable future.
The Company shall use commercially reasonable efforts to keep the Registration Statement effective and available for use by the Holder
until all Warrant Shares are issued to the Holder.

 

(d)  No
Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the transactions
contemplated hereby do not and will not: (i) conflict with or violate any provision of the Company’s certificate or articles
of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default (or an event
that with notice or lapse of time or both would become a default) under, result in the creation of any lien upon any of the properties
or assets of the Company, or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice,
lapse of time or both) of, any material agreement, credit facility, debt or other material instrument (evidencing Company debt or otherwise)
or other material understanding to which the Company is a party or by which any property or asset of the Company is bound or affected,
or (iii) conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction
of any court or governmental authority to which the Company is subject (including federal and state securities laws and regulations),
or by which any property or asset of the Company is bound or affected.

 

(e)  Disclosure.
Except with respect to the material terms and conditions of the transactions contemplated by this Agreement, the Company confirms that
neither it nor any other Person acting on its behalf has provided the Holder or any of its agents or counsel with any information that
it believes constitutes or might constitute material, non-public information. The Company understands and confirms that the Holder will
rely on the foregoing representation in effecting transactions in securities of the Company. All of the disclosure furnished by or on
behalf of the Company to the Holder regarding the Company and its Subsidiaries, their respective businesses and the transactions contemplated
hereby, including but not limited to the disclosure set forth in the SEC Reports, is true and correct and does not contain any untrue
statement of a material fact or omit to state any material fact necessary in order to make the statements made therein, in light of the
circumstances under which they were made, not misleading. As used herein, “SEC Reports” means all reports, schedules,
forms, statements and other documents required to be filed by the Company with the Commission pursuant to the reporting requirements of
the Securities Exchange Act of 1934, as amended, including all exhibits included therein and financial statements, notes and schedules
thereto and documents incorporated by reference therein.

 

    5

     

    

 

(f)  Issuance
of Securities. The issuance of the New Warrants is duly authorized and, upon issuance in accordance with the terms of this Agreement,
the New Warrants shall be validly issued and free from all preemptive or similar rights (except for those which have been validly waived
prior to the date hereof), taxes, liens and charges and other encumbrances with respect to the issue thereof. As of the Closing Date,
a number of Ordinary Shares shall have been duly authorized and reserved for issuance which equals or exceeds the maximum number of New
Warrant Shares issuable upon exercise of the New Warrants (without taking into account any limitations on the exercise of the New Warrants
set forth therein). Upon exercise of the New Warrant in accordance with the terms of the New Warrant, the New Warrant Shares when issued
will be validly issued, fully paid and nonassessable and free from all preemptive or similar rights, taxes, liens, charges and other encumbrances
with respect to the issue thereof, with the holders being entitled to all rights accorded to a holder of Ordinary Shares. Assuming the
accuracy of each of the representations and warranties set forth in Section 3.2 of this Agreement, the offer and issuance by the Company
of the New Warrant is exempt from registration under the Securities Act.

 

(g)  No
General Solicitation. Neither the Company, nor any of its Subsidiaries or affiliates, nor any Person acting on its or their behalf,
has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer
or sale of the New Warrants.

 

(h)  No
Disqualification Events. With respect to Securities to be offered and sold hereunder in reliance on Rule 506(b) under the Securities
Act, none of the Company, any of its predecessors, any affiliated issuer, any director, executive officer, other officer of the Company,
any beneficial owner of 20% or more of the Company's outstanding voting equity securities, calculated on the basis of voting power, nor
any promoter (as that term is defined in Rule 405 under the Securities Act) connected with the Company in any capacity at the time of
sale (each, an “Issuer Covered Person” and, together, “Issuer Covered Persons”) is subject to any
of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification
Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3). The Company has exercised reasonable care
to determine whether any Issuer Covered Person is subject to a Disqualification Event. The Company has complied, to the extent applicable,
with its disclosure obligations under Rule 506(e), and has furnished to the Buyers a copy of any disclosures provided thereunder, if any.

 

    6

     

    

 

(i) Market
Standoff. From the date hereof until thirty (30) days after the Closing Date, neither the Company nor any Subsidiary shall (A) issue,
enter into any agreement to issue or announce the issuance or proposed issuance of any ADSs, Ordinary Shares or Ordinary Share Equivalents
or (B) file any registration statement or any amendment or supplement to any existing registration statement (other than a resale registration
statement in connection with the transaction contemplated hereunder or a prospectus supplement to the Registration Statement to reflect
the transactions contemplated hereby).

 

Section 3.2  Representations
and Warranties of the Holder. The Holder hereby makes the representations and warranties set forth below to the Company that as of
the date of its execution of this Agreement:

 

(a) Due
Authorization. The Holder represents and warrants that (i) the execution and delivery of this Agreement by it and the consummation
by it of the transactions contemplated hereby have been duly authorized by all necessary action on its behalf and (ii) this Agreement
has been duly executed and delivered by the Holder and constitutes the valid and binding obligation of the Holder, enforceable against
it in accordance with its terms.

 

(b)  No
Conflicts. The execution, delivery and performance of this Agreement by the Holder and the consummation by the Holder of the transactions
contemplated hereby do not and will not: (i) conflict with or violate any provision of the Holder’s organizational or charter
documents, or (ii) conflict with or result in a violation of any agreement, law, rule, regulation, order, judgment, injunction, decree
or other restriction of any court or governmental authority which would interfere with the ability of the Holder to perform its obligations
under this Agreement.

 

(c) Access
to Information. The Holder acknowledges that it has had the opportunity to review this Agreement and the SEC Reports and has been
afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the
Company concerning the terms and conditions of the exercise of the Original Warrants and issuance of the New Warrants and the merits and
risks of investing in the Warrant Shares underlying the Original Warrants; (ii) access to information about the Company and its financial
condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and
(iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense
that is necessary to make an informed investment decision with respect to the investment. The Holder acknowledges and agrees that neither
H.C. Wainwright & Co., LLC (the “Agent”) nor any Affiliate of the Agent has provided the Holder with any information
or advice with respect to the Original Warrants, the Warrant Shares or the Securities nor is such information or advice necessary or desired.
Neither the Agent nor any Affiliate of the Agent has made or makes any representation as to the Company or the quality of the Original
Warrants, the Warrant Shares or the Securities, and the Agent and any Affiliate of the Agent may have acquired non-public information
with respect to the Company which the Holder agrees need not be provided to it. In connection with the issuance of the Warrant Shares
and the Securities to the Holder, neither the Agent nor any of its Affiliates has acted as a financial advisor or fiduciary to the Holder.

 

(d)  Holder
Status. The Holder is an “accredited investor” as defined in Rule 501 under the Securities Act.

 

    7

     

    

 

ARTICLE IV

MISCELLANEOUS

 

Section 4.3 Notices.
 Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be made by email to
the email address of Holders set forth on Holders’ signature page.

 

Section 4.4 Survival.
 All warranties and representations (as of the date such warranties and representations were made) made herein or in any certificate
or other instrument delivered by any party hereto or on its behalf under this Agreement shall be considered to have been relied upon by
the parties hereto and shall survive the issuance of the Warrant Shares. This Agreement shall inure to the benefit of and be binding upon
the successors and permitted assigns of each of the parties; provided, however, that no party may assign this Agreement or the obligations
and rights of such party hereunder without the prior written consent of the other parties hereto.

 

Section 4.5  Execution.
 This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood
that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission, such signature
shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force
and effect as if such facsimile signature page were an original thereof.

 

Section 4.6 Severability.
If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the remaining
terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon
a valid and enforceable provision that is a reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision
in this Agreement.

 

Section 4.7  Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be determined pursuant
to the Governing Law provision in Section 5(e) of the Original Warrants.

 

Section 4.8  Entire
Agreement. The Agreement, together with the exhibits and schedules thereto, contain the entire understanding of the parties with respect
to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which
the parties acknowledge have been merged into such documents, exhibits and schedules.

 

Section 4.9  Construction.
The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any
of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express their
mutual intent, and no rules of strict construction will be applied against any party.

 

Section 4.10  Fees
and Expenses. Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all
other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement.
The Company shall pay all transfer agent fees, stamp taxes and other taxes and duties levied in connection with the delivery of any Warrant
Shares.

 

Section 4.11 Registration
Obligations. The Company shall prepare and file with the Commission a registration statement relating to the resale of the New Warrant
Shares by the holders of the New Warrants under the Securities Act and use commercially reasonable best efforts to cause such registration
statement to be declared effective by the Commission as soon as practical.

 

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

 

    8

     

    

 

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

 

	COMPANY:	 
	 	 
	CAN-FITE BIOPHARMA LTD.	 
	 	 	 
	By: 	          	 
	Name: 	 	 
	Title:	 	 

 

Bank Account and Wire Instructions:

 

    9

     

    

 

[HOLDER SIGNATURE PAGES TO CANF

WARRANT EXERCISE AGREEMENT]

 

IN WITNESS WHEREOF, the undersigned have caused this Warrant Exercise
Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.

 

	Name of Holder:	 
	 	 
	Signature of Authorized Signatory of Holder:	 
	 	 
	Name of Authorized Signatory:	 
	 	 
	Title of Authorized Signatory:	 
	 	 
	Email Address of Holder:	 

 

Number of Warrant Shares underlying Original Warrants issued
in August 2021 to be exercised:

 

5,000,000 ADSs (or 150,000,000 Ordinary Shares)

 

	Aggregate Exercise Price of Original Warrants to be Exercised:	 	$	10,000,000	 
	New Warrant Shares underlying New Warrants:	 	 	6,000,000	 

 

DWAC Instructions for Warrant Shares to
be issued upon exercise of Original Warrants:_________________

 

Deliver address of New Warrants:                                                                                                                                                               

 

 

10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00338-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00338-of-00352.parquet"}]]