Document:

Exhibit 10.6

 

THIS
PROMISSORY NOTE (“NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”).  THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE
OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE
TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.  

 

PROMISSORY
NOTE

 

	Principal
    Amount:  $300,000	 Dated
    as of February 21, 2021

 

ION
Acquisition Corp 3 Ltd., a Cayman Islands exempted company (the “Maker”), promises to pay to the order of ION
Holdings 3, LP, a Cayman Islands exempted limited partnership, or its registered assigns or successors in interest (the
“Payee”), or order, the principal sum of Three Hundred Thousand Dollars ($300,000) or such lesser amount as shall
have been advanced by Payee to Maker and shall remain unpaid under this Note on the Maturity Date (as defined below) in lawful money
of the United States of America, on the terms and conditions described below.  All payments on this Note shall be made by check
or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the Payee may from time to
time designate by written notice in accordance with the provisions of this Note.

 

1. Principal. The
entire unpaid principal balance of this Note shall be payable on the earlier of: (i) December 31, 2021 or (ii) the date on which Maker
consummates an initial public offering of its securities (such earlier date, the “Maturity Date”). The principal
balance may be prepaid at any time. Under no circumstances shall any individual, including but not limited to any officer, director,
employee or shareholder of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder.

 

2. Interest. No
interest shall accrue on the unpaid principal balance of this Note.

 

3. Application
of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under
this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late charges and finally
to the reduction of the unpaid principal balance of this Note.

 

4. Events
of Default. The following shall constitute an event of default (“Event of Default”):

 

(a)  Failure
to Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business days of
the date specified above.

 

(b)  Voluntary
Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation
or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian,
sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment
for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate
action by Maker in furtherance of any of the foregoing.

 

(c)  Involuntary
Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker in
an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee,
custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up
or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive
days.

  

5. Remedies.

 

(a)  Upon
the occurrence of an Event of Default specified in Section 4(a) hereof, Payee may, by written notice to Maker, declare this Note to be
due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable hereunder, shall become
immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived,
anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

     

     

    

 

(b)  Upon
the occurrence of an Event of Default specified in Sections 4(b) or 4(c), the unpaid principal balance of this Note, and all other sums
payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on the
part of Payee.

  

6. Waivers. Maker
and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest,
and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the
terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property, real
or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or
providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any real estate
that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold upon any
such writ in whole or in part in any order desired by Payee.

 

7. Unconditional
Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement
of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party,
and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to
by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect
to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties
hereto without notice to Maker or affecting Maker’s liability hereunder.

 

8. Notices. All
notices, statements or other documents which are required or contemplated by this Note shall be: (i) in writing and delivered personally
or sent by first class registered or certified mail, overnight courier service or electronic transmission to the address (including,
as applicable, to the electronic mail address most recently provided to such party or such other electronic mail address) as may be designated
in writing by such party.  Any notice or other communication so transmitted shall be deemed to have been given (i) on the day
of delivery, if delivered personally, (ii) one (1) business day after delivery to an overnight courier service or five (5) days after
mailing if sent by mail or (iii) one (1) business day after receipt of written confirmation, if sent by electronic transmission.

 

9. Counterparts;
Electronic Signatures. This Note may be executed in one 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 in PDF format via electronic mail, 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 signature page were an original thereof. The
use of electronic signatures and electronic records for this Note shall be of the same legal effect, validity and enforceability as
a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law,
including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and
Records Act, and any other applicable law, including any state law based on the Uniform Electronic Transactions Act or the Uniform
Commercial Code.

 

10. Construction. THIS
NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.

 

11. Severability. Any
provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction.

 

12. Trust
Waiver.  Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest
or claim of any kind (“Claim”) in or to any distribution of or from the trust account to be established in which
the proceeds of the IPO conducted by the Maker (including the deferred underwriters discounts and commissions) and the proceeds of
the sale of the warrants issued in a private placement to occur prior to the consummation of the IPO are to be deposited, as
described in greater detail in the registration statement and prospectus to be filed with the Securities and Exchange Commission in
connection with the IPO, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the
trust account for any reason whatsoever.

 

13. Amendment;
Waiver.  Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent
of the Maker and the Payee.

 

14. Assignment.  No
assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law or
otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required consent
shall be void.

 

[Signature
page follows]

 

     

     

    

 

IN
WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the
day and year first above written.

 

	 	ION ACQUISITION CORP 3 LTD.,

                                                                     a
Cayman Islands exempted company

	 	 	 
	 	By:	/s/
    Gilad Shany
	 	 	Name:
    Gilad Shany
	 	 	Title:
    Director

 

Agreed
and acknowledged:

 

	ION
    HOLDINGS 3, LP,	 
	 a
    Cayman Islands exempted limited partnership	 
	 	 
	Acting
    by its General Partner 	 
	ION
    Acquisition Corp GP Ltd.	 
	 	 	 
	By:	/s/
    Anthony Reich	 
	 	Name:
    Anthony Reich 	 
	 	Title:
    Authorized Signatory	 

   

[Signature
Page to Promissory Note]Exhibit 10.7

 

ION ACQUISITION CORP 3 LTD.

89 Medinat Hayehudim Street

Herzliya 4676672, Israel

 

February 21, 2021

 

ION Holdings 3, LP

89 Medinat Hayehudim Street

Herzliya 4676672, Israel

 

RE: Securities Subscription Agreement 

 

Ladies and Gentlemen:

 

ION Acquisition Corp 3 Ltd.,
a Cayman Islands exempted company (the “Company”, “we” or “us”), is pleased to
accept the offer made by ION Holdings 3, LP, a Cayman Islands exempted limited partnership (“Subscriber” or “you”),
to subscribe for and purchase 6,325,000 Class B ordinary shares of the Company, $0.0001 par value per share (the “Shares”),
up to 825,000 of which are subject to forfeiture by you to the extent that the underwriters of the initial public offering (“IPO”)
of the Company’s units, each comprised of one Class A ordinary share and one, or a portion of one, warrant to purchase one Class
A ordinary share (“Units”), do not fully exercise their option to purchase additional Units to cover over-allotments,
if any (the “Over-allotment Option”). The terms of the sale by the Company of the Shares to Subscriber, and the Company
and Subscriber’s agreements regarding the Shares, are as follows:

 

1. Purchase
of Securities.

 

1.1. Subscription
and Purchase of Shares. For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges receiving
in cash, the Company hereby issues the Shares to Subscriber, and Subscriber hereby subscribes for and purchases the Shares from the Company,
on the terms and subject to the conditions, including regarding forfeiture, set forth in this letter agreement (this “Agreement”).

 

1.2. All
references in this Agreement to shares of the Company being surrendered and canceled shall take effect as surrenders and cancellations
for no consideration of such shares as a matter of Cayman Islands law. The Subscriber hereby irrevocably surrenders to the Company for
cancellation and for nil consideration the one Class B ordinary share standing in its name in the register of members of the Company

 

		2.	Representations, Warranties and Agreements.

 

2.1. Subscriber’s
Representations, Warranties and Agreements. To induce the Company to issue the Shares to Subscriber, Subscriber hereby represents
and warrants to the Company and agrees with the Company as follows:

 

2.1.1. Organization
and Authority. Subscriber is a limited liability company, duly organized, validly existing and in good standing under the laws of
the Cayman Islands, and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.
This Agreement is a legal, valid and binding agreement of Subscriber, enforceable against Subscriber in accordance with its terms, except
as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement
of creditors’ rights generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding
at law or in equity).

 

     

     

    

 

2.1.2. No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by Subscriber of the transactions contemplated
hereby do not violate, conflict with or constitute a default under (i) the formation and governing documents of Subscriber, (ii) any agreement,
indenture or instrument to which Subscriber is a party or (iii) any law, statute, rule, regulation, order, judgment or decree to which
Subscriber is subject.

 

2.1.3. No
Governmental Consents. No governmental, administrative or other third party consents or approvals are required, necessary or appropriate
on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

2.1.4. Experience,
Financial Capability and Suitability. Subscriber is sophisticated in financial matters and is able to evaluate the risks and benefits
of the investment in the Shares. Subscriber acknowledges that the Shares have not been registered under the Securities Act of 1933, as
amended (the “Securities Act”), and therefore cannot be sold unless subsequently registered under the Securities Act
or an exemption from such registration is available. Subscriber understands that it must bear the economic risk of this investment until
the Shares are sold pursuant to: (i) an effective registration statement under the Securities Act or (ii) an exemption from registration
available with respect to such sale. Subscriber is able to bear the economic risk of an investment in the Shares for an indefinite period
of time and to afford a complete loss of Subscriber’s investment in the Shares.

 

2.1.5. No
Government Recommendation or Approval. Subscriber understands that no federal or state agency has passed upon or made any recommendation
or endorsement of the offering of the Shares.

 

2.1.6. Access
to Information; Independent Investigation. Prior to the execution of this Agreement, Subscriber has had the opportunity to ask questions
of and receive answers from representatives of the Company concerning an investment in the Company, as well as the financial condition,
business and prospects of the Company, and the opportunity to obtain additional information to verify the accuracy of all information
so obtained. In determining whether to make this investment, Subscriber has relied solely on Subscriber’s own knowledge and understanding
of the Company and its business based upon Subscriber’s own due diligence investigation. Subscriber understands that no person has
been authorized to make any representations other than as set forth in this Agreement and Subscriber has not relied on any other written
or oral representations relating to the financial condition, business and prospects of the Company in making its investment decision.

 

2.1.7. Investment
Representations. Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of Regulation
D under the Securities Act and acknowledges the sale contemplated hereby is being made in reliance on the private placement exemption
in Section 4(a)(2) of the Securities Act and/or said Regulation D and similar exemptions under state law. Subscriber is purchasing the
Shares solely for investment purposes, for Subscriber’s own account and not for the account or benefit of any other person, and
not with a view towards the distribution or dissemination thereof. Subscriber did not decide to enter into this Agreement as a result
of any general solicitation or general advertising within the meaning of Rule 502 under the Securities Act.

 

    2

     

    

 

2.1.8. Restrictions
on Transfer; Shell Company. Subscriber understands the Shares are being offered in a transaction not involving a public offering within
the meaning of the Securities Act. Subscriber understands the Shares will be “restricted securities” within the meaning of
Rule 144(a)(3) under the Securities Act, and Subscriber understands that the certificates or book-entries representing the Shares will
contain a legend or notation in respect of such restrictions. If, in the future, Subscriber decides to offer, resell, pledge or otherwise
transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred only pursuant to: (i) an effective registration
statement under the Securities Act or (ii) an exemption from registration available with respect to such sale. Subscriber agrees that
if any transfer of its Shares or any interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber
may be required to deliver to the Company an opinion of counsel satisfactory to the Company. Absent registration or available exemption,
Subscriber agrees not to resell the Shares. Subscriber further acknowledges that because the Company is a shell company, Rule 144 may
not be available to Subscriber for the resale of the Shares until one year following consummation of the initial business combination
of the Company, despite the release or waiver of any contractual transfer restrictions.

 

2.2. Company’s
Representations, Warranties and Agreements. To induce Subscriber to subscribe for and purchase the Shares, the Company hereby represents
and warrants to Subscriber and agrees with Subscriber as follows:

 

2.2.1. Incorporation
and Authority. The Company is an exempted company, duly incorporated, validly existing and in good standing under the laws of the
Cayman Islands, and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.
This Agreement is a legal, valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except
as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement
of creditors’ rights generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding
at law or in equity).

 

2.2.2. No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated
hereby do not violate, conflict with or constitute a default under (i) the memorandum and articles of association of the Company, (ii)
any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule, regulation, order, judgment or
decree to which the Company is subject.

 

2.2.3. No
Governmental Consents. No governmental, administrative or other third party consents or approvals are required, necessary or appropriate
on the part of the Company in connection with the transactions contemplated by this Agreement.

 

2.2.4. Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the memorandum and articles of association
of the Company, and registration in the Company’s register of members, the Shares will be duly and validly issued as fully paid
and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof, and registration in the Company’s
register of members, Subscriber will have or receive good title to the Shares, free and clear of all liens, claims and encumbrances of
any kind, other than (a) transfer restrictions hereunder and other agreements to which the Shares may become subject, (b) transfer restrictions
under federal and state securities laws and (c) liens, claims or encumbrances imposed due to the actions of Subscriber.

 

    3

     

    

 

3. Forfeiture
of Shares.

 

3.1. Partial
or No Exercise of the Over-allotment Option. In the event the Over-allotment Option is not exercised in full, Subscriber acknowledges
and agrees that it (or, if applicable, it and/or any transferees of Shares) shall forfeit any and all rights to such number of Shares
(up to an aggregate of 825,000 Shares (as such amount may be adjusted for share sub-divisions, share capitalizations, reorganizations,
recapitalizations and the like) and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following
such forfeiture, Subscriber (and all other initial shareholders of the Company prior to the IPO, if any) will own an aggregate number
of Shares equal to 20.0% of the issued and outstanding Shares immediately following the IPO.

 

3.2. Termination
of Rights as Shareholder. If any of the Shares are forfeited in accordance with this Section 3, then after such time Subscriber (or
its successor in interest), shall no longer have any rights as a holder of such forfeited Shares, and the Company shall take such action
as is appropriate to cancel such forfeited Shares.

 

4. Waiver
of Redemption Rights. Subscriber hereby waives any and all rights to redeem the Shares for a portion of the amounts held in the trust
account into which substantially all of the proceeds of the IPO will be deposited (the “Trust Account”) in the event
of the Company’s failure to timely complete an initial business combination, an extension of the time period to complete an initial
business combination or upon the consummation of an initial business combination. For purposes of clarity, in the event Subscriber subscribes
for and purchases Class A ordinary shares included in the Units issued in the IPO (“Public Shares”), either in the
IPO or in the aftermarket, any Public Shares so subscribe for and purchased shall be eligible to be redeemed for a portion of the amounts
held in the Trust Account in the event of the Company’s failure to timely complete an initial business combination (but, for the
avoidance of doubt, not in connection with an extension of the time period to complete an initial business combination or upon the consummation
of an initial business combination).

 

5. Restrictions
on Transfer.

 

5.1. Securities
Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement
(commonly known as an “Insider Letter”) to be dated as of the closing of the IPO by and between Subscriber and the
Company (which will also contain other agreements with respect to the Shares), Subscriber agrees not to sell, transfer, pledge, hypothecate
or otherwise dispose of all or any part of the Shares unless, prior thereto, (a) a registration statement on the appropriate form under
the Securities Act and applicable state securities laws with respect to the Shares proposed to be transferred shall then be effective
or (b) the Company has received an opinion from counsel, reasonably satisfactory to the Company, that registration is not required because
such transaction is exempt from registration under the Securities Act and the rules promulgated by the Securities and Exchange Commission
thereunder and all applicable state securities laws.

 

5.2. Restrictive
Legends. Any certificates representing the Shares shall have endorsed thereon legends substantially as follows (and any book-entries
representing the Shares shall have similar notations):

 

“THE SECURITIES REPRESENTED HEREBY HAVE
NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY U.S. STATE SECURITIES LAWS AND NEITHER THE SECURITIES
NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION
OF COUNSEL, IS AVAILABLE.”

 

    4

     

    

 

“THE SECURITIES REPRESENTED BY THIS
CERTIFICATE ARE SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER SET FORTH IN A LETTER AGREEMENT WITH THE COMPANY (A COPY OF WHICH MAY BE
OBTAINED FROM THE COMPANY AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE) AND MAY NOT BE OFFERED, SOLD, TRANSFERRED,
PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF IN VIOLATION OF SUCH RESTRICTIONS.”

 

5.3. Additional
Shares or Substituted Securities. In the event of the declaration of a share capitalization, the declaration of an extraordinary dividend
payable in a form other than Shares, a spin-off, a share sub-division, an adjustment in conversion ratio, a recapitalization or a similar
transaction affecting the Company’s outstanding Shares without receipt of consideration, any new, substituted or additional securities
or other property which are by reason of such transaction distributed with respect to any Shares subject to this Section 5 or into which
such Shares thereby become convertible shall immediately be subject to this Section 5 and Section 3 hereof. Appropriate adjustments to
reflect the distribution of such securities or property shall be made to the number and/or class of Shares subject to this Section 5 and
Section 3.

 

6. Other
Agreements.

 

6.1. Further
Assurances. Subscriber agrees to execute such further instruments and to take such further action as may reasonably be necessary to
carry out the intent of this Agreement.

 

6.2. Notices.
All notices, statements or other documents which are required or contemplated by this Agreement shall be in writing and delivered personally,
by certified mail (return receipt requested) or overnight courier service or by electronic mail, if to the Company, at the address of
its principal offices and any electronic mail address as may be designated in writing by the Company, as applicable, and, if to Subscriber,
at its address in the books and records of the Company and any electronic mail address as may be designated in writing by Subscriber,
as applicable, or to such other addresses as may be designated in writing by the Company or Subscriber. All such notices, statements or
other documents shall be deemed received on the date of receipt by the recipient thereof if received prior to 8:00 p.m. on a business
day in the place of receipt. Otherwise, any such notices, statements or other documents shall be deemed to have been received on the next
succeeding business day in the place of receipt.

 

6.3. Entire
Agreement. This Agreement, together with the Insider Letter and the registration rights agreement to be entered into with respect
to the Shares, each substantially in the form to be filed as an exhibit to the Registration Statement on Form S-1 associated with the
Company’s IPO, embodies the entire agreement and understanding between Subscriber and the Company with respect to the subject matter
hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation,
warranty, covenant or agreement of any kind not expressly set forth in this Agreement shall affect, or be used to interpret, change or
restrict, the express terms and provisions of this Agreement.

 

    5

     

    

 

6.4. Modifications
and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by all parties
hereto.

 

6.5. Waivers
and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by a
written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed
to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar.
Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not
constitute a continuing waiver or consent.

 

6.6. Assignment.
The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent of the other
party.

 

6.7. Benefit.
All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto and shall
inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement shall be construed
to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded as a third-party beneficiary
of this Agreement.

 

6.8. Governing
Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by
the laws of the State of New York applicable to contracts wholly performed within the borders of such state, without giving effect to
the conflict of law principles thereof.

 

6.9. Severability.
In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in this Agreement
shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent that such court deems
it reasonable and enforceable, and, as so limited, shall remain in full force and effect. In the event that such court shall deem any
such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement shall nevertheless remain in full
force and effect.

 

6.10. No
Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement,
and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of such party. No single
or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance of steps
to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any
other right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver of the right of such
party to pursue other available remedies. No notice to or demand on a party not expressly required under this Agreement shall entitle
the party receiving such notice or demand to any other or further notice or demand in similar or other circumstances or constitute a waiver
of the rights of the party giving such notice or demand to any other or further action in any circumstances without such notice or demand.

 

6.11. Survival
of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any other
agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof and any investigations
made by or on behalf of the parties.

 

    6

     

    

 

6.12. No
Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other financial consultant
has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as to create any liability
on the other. Each of the parties hereto agrees to indemnify and save the other harmless from any claim or demand for commission or other
compensation by any broker, finder, financial consultant or similar agent claiming to have been employed by or on behalf of such party
and to bear the cost of legal expenses incurred in defending against any such claim.

 

6.13. Headings
and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference only and shall
in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

6.14. Counterparts;
Electronic Signatures. This Agreement may be executed in one 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 in PDF format via
electronic mail, 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 signature page were an original thereof. The use of electronic signatures and electronic
records for this Agreement shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a
paper-based record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global
and National Commerce Act, the New York State Electronic Signatures and Records Act, and any other applicable law, including any state
law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code.

 

6.15. Construction.
The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent
or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption or burden of
proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement. The words “include,”
“includes,” and “including” will be deemed to be followed by “without limitation.”
Pronouns in masculine, feminine, and neuter genders will be construed to include any other gender, and words in the singular form will
be construed to include the plural and vice versa, unless the context otherwise requires. The words “this Agreement,”
“herein,” “hereof,” “hereby,” “hereunder,” and words of similar
import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties hereto intend
that each representation, warranty, and covenant contained herein will have independent significance. If any party hereto has breached
any representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty
or covenant relating to the same subject matter (regardless of the relative levels of specificity) which such party hereto has not breached
will not detract from or mitigate the fact that such party hereto is in breach of the first representation, warranty, or covenant.

 

6.16. Mutual
Drafting. This Agreement is the joint product of Subscriber and the Company and each provision hereof has been subject to the mutual
consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

[Signature Page Follows]

 

    7

     

    

 

If the foregoing accurately
sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return it to us.

  

	 	Very truly yours,
	 	 
	 	ION ACQUISITION CORP 3 LTD.,
	 	a Cayman Islands exempted company
	 	 	 
	 	By:	/s/ Gilad Shany
	 	 	Name: Gilad Shany
	 	 	Title: Director

 

Accepted and agreed as of the date first written above:

 

	ION HOLDINGS 3, LP,	 
	a Cayman Islands exempted limited partnership	 
	 	 
	Acting by its General Partner 	 
	ION Acquisition Corp GP Ltd.	 
	 	 	 
	By:	/s/ Anthony Reich	 
	 	Name: Anthony Reich 	 
	 	Title: Authorized Signatory	 

 

[Signature Page to Securities Subscription Agreement]

 

 

8

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